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Shares of Meta Platforms are hovering near record highs — but at least one Wall Street analyst is on edge heading into the social-media giants earnings report later this month. "[We] believe buyside expectations for a clean beat and raise quarter have minimal margin of error," Roth MKM wrote. Another reason: Roth MKM believes Temu and Shein are seeing declining importance in using Facebook and Instagram to acquire customers through ads. META YTD mountain Meta Platforms' stock performance so far in 2024. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Roth MKM, Roth, Shein, they've, Jim Cramer's, Jim Cramer, Jim, Porte, Julien De Rosa Organizations: Facebook, Temu, Meta, CNBC, Porte de, Afp, Getty Locations: Asia, Pacific, China, Temu, Europe, Paris
Meanwhile, Jefferies began coverage of Reddit with a buy rating and a price target of $90. Champine said the Federal Reserve lowering interest rates was a driving force for the price target changes. Analyst William Kerr initiated coverage of the pet ecommerce retailer with a buy rating and $38 price target. RBLX YTD mountain RBLX in 2024 — Alex Harring 5:50 a.m.: Citi says UPS is a buy Buy the dip on UPS shares, according to Citi. Analyst Ariel Rosa initiated the delivery giant with a buy rating and a price target of $162.
Persons: Jefferies, Laura Champine, Champine, Helene, Milton, Lowe's, — Alex Harring, Piper Sandler downgrades Blackstone Piper Sandler, Crispin Love, Love, Blackstone, Morgan Stanley, Sanjit Singh, Singh, Alex Harring, TD Cowen, William Kerr, Kerr, Benjamin Soff, Soff, Ken Gawrelski, Gawrelski, Roblox, Ariel Rosa, Rosa, — Fred Imbert, John Colantuoni, Colantuoni, EBITDA Organizations: CNBC, Wednesday, Citi, UPS, Capital, Federal Reserve, Blackstone, Industry, Deutsche Bank, New York Times, Amazon Logistics, Walmart Locations: Wells, China, Tuesday's
Why health care could be a winner heading into year-end
  + stars: | 2024-10-09 | by ( Fred Imbert | ) www.cnbc.com   time to read: +2 min
Health care may be the answer, if history is any indication. The Health Care Select Sector SPDR Fund (XLV) has posted a November gain in eight of the last 10 years. Health care trades at a forward price-to-earnings ratio of 22.2, while the S & P 500 has a multiple of 24. The optimism around health care comes as the sector lags the broader market. Some health care names poised to do well, according to Krinsky, are Masimo and Viking Therapeutics .
Persons: What's, Jonathan Krinsky, Krinsky Organizations: iShares Biotechnology, Viking Therapeutics, Viking, Politan, Citi, UPS, Amazon Logistics, Walmart Locations: China
China stocks – U.S.-listed shares of Chinese companies fell after Beijing's economic planning agency failed to announce any new major stimulus plans . Online video company Bilibili fell 13%, while automaker Nio and Temu parent PDD tumbled about 6% each. Humana — Shares jumped 2.8% after Bernstein upgraded the beaten-down health insurance company to outperform, even though it substantially decreased its price target. Roblox — Shares fell 4% after Hindenburg Research disclosed a short position on the gaming platform, alleging the company inflated metrics. BTIG upgraded Affirm to buy , with analyst Vincent Caintic lauding the company's growth compared to traditional payment companies like American Express.
Persons: Bilibili, Nio, Young Liu, Blackwell, Bernstein, Roblox, David Byrnes, Byrnes, Jefferies, there's, BTIG, Vincent Caintic, CNBC's Michelle Fox, Hakyung Kim, Pia Singh, Sean Conlon, Alex Harring Organizations: U.S, Vegas Sands, Wynn Resorts, MDU Resources, Super, Nvidia, CNBC, Hindenburg Research, Waters, Jefferies, American Locations: China, Vegas, Macau
China stocks – U.S.-listed shares of Chinese companies fell after China's state planner Zheng Shanjie failed to announce any new economic stimulus plans . Online video company Bilibili tumbled more than 13%, while automaker Nio and Temu parent PDD each fell more than 9%. E-commerce companies JD.com and Alibaba also fell nearly 9% and 7%, respectively. Wells Fargo – The bank rose more than 1% after Wolfe Research upgraded the lender to outperform from peer perform. Humana – Shares rose nearly 1% after Bernstein upgraded the health insurer to outperform from market perform.
Persons: Zheng Shanjie, Bilibili, Nio, Alibaba, Young Liu's, Liu, Wells, Bernstein, Oppenheimer, LSEG, , Jesse Pound, Brian Evans, Michelle Fox Theobald Organizations: U.S, Wynn Resorts, China, MDU Resources, Nvidia, Blackwell, Wolfe Research, Microsoft –, PepsiCo –, Gatorade, Frito, PepsiCo Locations: China, Las, Macau, Wells
But he did not announce any major new plans for ensuring economic health, leaving investors feeling underwhelmed. The iShares MSCI China ETF (MCHI) sank nearly 11%, on track for its worst day ever. The iShares China Large-Cap ETF, for example, soared 33% between Sept. 23 and Oct. 7. Morgan Stanley strategist Laura Wang on Tuesday revised price targets for the major Chinese stock market indexes, suggesting no room for further gains compared with current levels. "Today's press conference at least in the near term reinforces such belief, in our view, and the stock market could see more divergence at individual stock level."
Persons: Zheng Shanjie, Bilibili, Nio, Ray Dalio, FXI, Jeff deGraaf, David Tepper, Morgan Stanley, Laura Wang, Wang, Merrill Lynch, Helen Qiao, Xiangrong Yu, Yu Organizations: National, Reform Commission, CSI China Internet, Billionaire, Bridgewater Associates, Greenwich Economic, Appaloosa Management, U.S . Federal Reserve, Wynn Resorts, Sands, Macau — Locations: China, Greenwich, Greenwich , Connecticut, Beijing, Macau, Tuesday's, U.S
“When you’re a regular person and you’re going on to your email job during the day and then every time you take a dopamine break on your phone, you’re getting hit by ‘You’re not fashionable enough. Everyone is overconsuming to keep upWhen shopping for clothes, Martinson is almost exclusively a thrifter. “They’re grasping at straws, just throwing something at the wall to see what sticks.”The new mall is TikTok ShopFast fashion was the first harbinger of the death of personal style, Thomas said. If you’re going to buy a clothing item, think of three outfits you can wear it with. Pre-Industrial Revolution habits of secondhand shopping, mending old clothes and keeping things around are coming back.
Persons: Fiza Faheem, , Faheem, microtrends, XCX’s, They’ve, Instagram, Dejeuné Harris, you’re, ‘ You’re, it’s, Alana Martinson, Dana Thomas, , Luke Meagher, Tamika Smith, Harris, I’m, “ I’m, TikTok, ” Harris, Thomas, ” Thomas, “ We’d, Zara …, ” Martinson, Hope, ” Meagher, they’ve Organizations: University of York, Washington , D.C, YouTube Locations: Washington ,, Zara, , U.S, TikTok
Many Gen Zers purchase cheap goods from the Chinese e-commerce companies Shein and Temu. The Biden administration is taking steps to make more Chinese imports subject to import fees. AdvertisementTwo of Gen Z's favorite shopping platforms for cheap goods could get more expensive in the near future. The trade provision, called "de minimis," allows US consumers to avoid paying these import fees on direct-to-consumer shipments of less than $800. However, import fees could vary by product.
Persons: Biden, , Gen, Chad Schofield, wouldn't, it's, — Schofield, Kaziukėnas, Joe Biden's, Xers, Temu, Schofield, Donald Trump, Kamala Harris, Shein, he'd, Temu It's, they'd Organizations: Service Locations: Shein, China, Canada, Mexico
Meta CEO Mark Zuckerberg has surpassed Jeff Bezos as the world’s second richest person, reports CNBC. Zuckerberg’s net worth reached $206.2 billion on Thursday, according to the Bloomberg Billionaires Index, topping the $205.1 billion net worth of the former Amazon CEO and president. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50 billion, the index showed. The company’s online advertising system suffered a major setback in 2021 when Apple introduced an iOS privacy update that weakened its ability to track users across the web. Investors reacted favorably to Meta’s cost cutting while the company’s online advertising business began to rebound and was bolstered by the massive digital ad spending campaigns by Chinese-linked retailers Temu and Shien.
Persons: Mark Zuckerberg, Jeff Bezos, Elon Musk, Meta, Zuckerberg Organizations: CNBC, Bloomberg, Amazon, Facebook, Meta, Apple, Investors, Orion Locations: Meta
Meta CEO Mark Zuckerberg has surpassed Jeff Bezos as the world's second richest person. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50 billion, the index showed. Meta has pointed to its hefty artificial intelligence investments as helping improve the performance of its online advertising platform as a reason for its sales growth. The company's online advertising system suffered a major setback in 2021 when Apple introduced an iOS privacy update that weakened its ability to track users across the web. Investors reacted favorably to Meta's cost cutting while the company's online advertising business began to rebound and was bolstered by the massive digital ad spending campaigns by Chinese-linked retailers Temu and Shien.
Persons: Mark Zuckerberg, Jeff Bezos, Elon Musk, Meta, Zuckerberg Organizations: Meta, Facebook, Bloomberg, Amazon, Apple, Investors, Orion, CNBC Locations: Meta
Humana – Shares plunged more than 22% after the healthcare company announced dire preliminary Medicare Advantage data for 2025. China stocks – Shares of Chinese companies continued to gain amid the broader stimulus rally . Diamondback Energy – The oil stock rose 3% following an upgrade to overweight from equal weight at Barclays. Energy stocks – Shares of energy companies rose following Iran's missile attack on Israel . APA Corp and Marathon Oil both rose more than 2%, and Occidental Petroleum rose more than 1%.
Persons: PDD, Alibaba, Lamb Weston –, Lamb, Betty Jiang, Diamondback, Dan Arnold, Rich Steinmeier, Davidson, , Lisa Kailai Han, Jesse Pound, Sarah Min, Michelle Fox Theobald Organizations: Nike –, Nike, Li Auto, Baidu, Diamondback Energy, Barclays, Endeavor Energy Resources, LPL, LPL Financial, Baird, Energy, APA Corp, Marathon Oil, Occidental Petroleum Locations: China, Israel
Stocks in China rose in response, with the CSI 300 Index climbing 4.3% Tuesday, its best day since July 2020. But whether or not the latest policy steps succeed, CNBC Pro screened for China stocks that analysts praise regardless of the pace of economic growth at home. About three quarters of analysts covering PDD rate it a buy, and the stock could climb roughly 43% based on analysts' consensus price target. On Tuesday, after the announcement of the latest policies to revive the flagging China economy, PDD shares in the U.S. jumped more than 11%. Other names on the list of favored China stocks included online learning and tutoring provider TAL Education Group and digital shipping platform Full Truck Alliance .
Persons: Hong, Morgan Stanley, Terence Flynn, Flynn, CoreValues, Ben Harburg, CNBC's, Harburg, Biden Organizations: People's Bank of China, CSI, CNBC Pro, China ETF, Therapeutics, YE25, U.S, TAL Education Group, Alliance Locations: China, Ph3, U.S
The Fed effectively cut rates to zero during the pandemic plunge, and the S & P had an extraordinary bull market. How to play it Consider PDD Holdings . PDD Holdings Inc. is a multinational commerce group that owns and operates several online platforms. PDD YTD mountain PDD Holdings, YTD The share price is nearly 44% below the all-time highs of early 2021. If you're looking for a single stock to get involved with to hitch your wagon to PBOC's train, consider PDD Holdings.
Persons: you've, I've, PDD Organizations: Fed, People's Bank of China, Holdings, PDD Holdings Inc, Pinduoduo, PDD Holdings, CNBC, NBC UNIVERSAL Locations: U.S, United States, China
A new Senate report details what went wrong before the assassination attempt against Donald Trump in July. More adults than thought may have an iron deficiency. → After a sniper with local law enforcement texted a Secret Service leader about the man who would soon fire shots at Trump, it took seven minutes for the Secret Service leader to send an email relaying the information and photos. It’s unclear how long it then took other members of the Secret Service to read the email. More coverage of Donald Trump:The Senate unanimously passed legislation to boost Secret Service protection for presidential candidates.
Persons: Donald Trump, Trump, Abbott, Costello, Who’s, , Democratic Sen, Richard Blumenthal, ” Blumenthal, Ryan Routh, Helene, Ron DeSantis, , Leo Buckley, Kamala Harris, Sen, JD Vance, Harris, Chuck Todd, Elise Stefanik, ” Israel, Brett Favre’s, Emmanuel Littlejohn, Kenneth Meers, he’s, Sean “ Diddy ” Combs, Eunice Yoon, — Jennifer Jett, Elizabeth Robinson Organizations: Senate Homeland Security Committee, Investigations, Secret Service, Democratic, Service, Trump, Top U.S, Florida Gov, NBC, Republican, GOP, NBC News, The Justice Department, Visa, of Fame, U.S . Forest Service, CNBC, White Locations: U.S, Butler , Pennsylvania, Trump’s Florida, Iran, Florida, Mexico, Bend, Pittsburgh, Haitian, Springfield , Ohio, Lebanon, Tel Aviv, Oklahoma, drugging, Shenzhen, China, Asia
SHENZHEN, China — Chinese vendor Yin Xinwei sometimes makes close to $1,400 a day selling low-priced pill boxes, barbecue spits and other items to U.S. online consumers. Each year hundreds of millions of packages, mostly from Chinese platforms, are sent directly to American consumers eager to take advantage of rock-bottom prices on clothing, electronics and other products. That could mean painful times ahead for the Chinese sellers that supply the platforms — and higher prices for American consumers. Chinese state media has criticized the proposal as protectionist and say it will hurt American consumers. Yin used to sell to Chinese consumers but has given up his domestic business to focus entirely on the overseas market.
Persons: Yin, , ” Yin, David Townsend, Dorsey, Trump, Biden, ” Townsend, Temu, , Jacky Lu, Shein, Eunice Yoon, Jennifer Jett Organizations: CNBC, Whitney, PDD Holdings, White, U.S . Customs, U.S Locations: SHENZHEN, China, Shenzhen, United States, U.S, Singapore, Boston, Hong Kong, Europe,
The White House wants to close a trade loophole exploited by Chinese discount e-retailers — a move that would have a ripple effect on at least two of our portfolio stocks: Amazon and Meta Platforms. The de minimis exemption has allowed Chinese e-commerce giants, particularly low-cost Temu and Shein, to flourish. Temu has risen in popularity in the U.S. for selling items directly from Chinese merchants at massive discounts. Temu is generally seen as a growing competitor to Amazon since its prices are often lower. Meta challenges On the other hand, the trade shift could present a challenge for Meta, which relies on advertising from e-commerce platforms.
Persons: Harris, hocking, Temu, it's, Jeff Marks, Shein, Meta, Jim Cramer's, Jim Cramer, Jim Organizations: Biden, Harris Administration, Amazon, Deutsche Bank, Deutsche Bank analysts, JPMorgan, Services, Meta, Management, CNBC, Getty Locations: U.S, China, Temu
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta and Google face potential ad revenue loss as Temu's growth stallsCNBC’s Deirdre Bosa reports on potential trouble ahead for Meta and Google as Temu growth continues to slow.
Persons: Deirdre Bosa Organizations: Meta, Google
FedEx reported a steep quarterly profit drop and lowered its full-year revenue forecast on Thursday after its customers continued to trade down from speedy, pricey delivery to cheaper, slower options. Shares in the Memphis-based delivery giant tumbled almost 11% to $267.74 in after-hours trading, dragging shares in rival United Parcel Service down 2.5%. The shift to less-profitable packages is squeezing profits at FedEx and UPS. Subramaniam is leading a complex restructuring at FedEx that involves slashing billions of dollars in overheads and merging its separate Ground and Express delivery units. On an adjusted basis, profit fell to $3.60 per share from $4.55 per share a year ago.
Persons: Raj Subramaniam, Subramaniam Organizations: FedEx, United Parcel Service, UPS, Reuters, Federal, United States Postal Service, FedEx Freight Locations: Memphis, China, Shein, U.S
Circuit U.S. Court of Appeals sounded unconvinced Monday that the TikTok “sale or ban” law, signed by President Joe Biden in April, was unconstitutional. TikTok and ByteDance have since condemned the practice and said that three employees involved were terminated, with an additional employee resigning. Pincus also said that the data TikTok collects from American users is anonymized and is comparable to other Chinese companies, like major e-commerce platforms. TikTok creators and users in the U.S. have responded overwhelmingly negatively to the proposed ban. Trump then expressed support for TikTok following Biden’s passage of the national security package that included the provision to ban TikTok.
Persons: Joe Biden, TikTok, , Andrew Pincus, , it’s, Pincus, Pincus didn’t, Judge Neomi Rao, ” Rao, Biden, Kamala Harris, Kamala, Donald Trump’s, TAYLOR SWIFT, ” Trump, Trump Organizations: Circuit U.S, Chinese Communist Party, Oracle, Forbes, Palestine Information Office, ByteDance, Justice Department, “ Biden Locations: U.S, Texas, Oracle’s U.S, China, Palestine, Tibet
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. CNBC's Sarah Min breaks down how a rate cut could affect the S&P 500 . Welcome to U.S. rate cut week! But given that the rate cut has been so clearly telegraphed by the Fed, it's hard to imagine it not happening. This cut might not be big in terms of basis points, but it will be big in what it signals to markets.
Persons: It's, Sarah Min, Biden, Donald Trump, Rafael Barros, Cat Stevens, Aditya Bhave, CNBC's Pia Singh, Hakyung Kim, Brian Evans Organizations: Eccles Federal Reserve, CNBC, U.S . Federal Reserve, Discount, China's National Bureau, Statistics, Republican, Federal Bureau of Investigation, Secret Service, U.S, Federal, Fed, Bank of America U.S Locations: Washington , DC, Florida, U.S
U.S. President Joe Biden delivers remarks during a visit to the United Association Local 190 Training Center in Ann Arbor, Michigan, U.S., September 6, 2024. Known as the de minimis loophole, the trade provision allows packages with a value of less than $800 to enter the United States with relatively little scrutiny. Over the past decade, the number of de minimis shipments has exploded, from roughly 140 million to more than a billion, according to a White House estimate. Each individual package is typically worth far less than $800, and thereby qualifies for the de minimis exemption. The Biden administration also called on Congress to pass legislation to overhaul the original de minimis rules.
Persons: Joe Biden, Biden, Daleep Singh Organizations: United Association Local, Textile, Apparel Locations: Ann Arbor , Michigan, U.S, United, China, United States
The committee made the estimate after launching investigations into Shein and Temu more than a year ago. "If the de minimis exemption is removed, then the cost of products from marketplaces like Shein and Temu will rise. They will still be cheap marketplaces but they won't have quite the competitive edge on price that they do now," Saunders told CNBC in an email. On Friday morning, the Biden administration announced plans to bar overseas shipments of products that are subject to U.S.-China tariffs from being eligible for the de minimis exemption. Both Shein and Temu declined to tell CNBC if they will raise prices due the proposed changes.
Persons: Biden, Neil Saunders, GlobalData, Saunders, that's, Shein Organizations: Republican, Chinese Communist Party, CNBC, CCP, U.S . Customs Locations: U.S, China, United States
Two U.S. Consumer Product Safety Commission members are urging the agency to probe safety practices of "foreign-owned" e-commerce platforms such as Shein and Temu, specifically the alleged sale of "deadly baby and toddler products." "Our interests are aligned with the U.S. Consumer Product Safety Commission (CPSC) in ensuring consumer protection and product safety, and we will cooperate fully with any investigation," the Temu spokesperson said. CPSC officials have asked for more funding to hire staffers to monitor emerging e-commerce platforms such as Temu and Shein over safety practices, according to The Information. Last April, a congressional commission released a report detailing issues with Shein, Temu and other "Chinese 'fast fashion' platforms.'" They alleged the sites have numerous product safety hazards, are connected to the use of forced labor and are exploiting trade loopholes, among other concerns.
Persons: Peter Feldman, Douglas Dziak, Temu, Shein Organizations: U.S, Consumer Product Safety, U.S . Consumer Product Safety, Discount, Google, PDD Holdings, Amazon, CNBC Locations: U.S, China
New York CNN —Shein and Temu, two Chinese low-cost e-commerce websites, are the target of a proposed investigation by the United States government for selling “deadly baby and toddler products.”Two leaders from the Consumer Products Safety Commission said in an open letter Wednesday that they want commission staff to look into how the two companies comply with US safety regulations. Pointing to “recent media reports” that dangerous products sold for kids are easy to find on the websites, CPSC commissioners Peter Feldman and Douglas Dziak said they want to “better understand these firms, particularly their focus on low-value direct-to-consumer” shipmentsOne particular concern for the Commission is the companies’ use of “de minmis,” a rule that exempts shipments valued at $800 or less from tariffs. Much of the products sold on Shein and Temu are cheap and range from furniture to fast fashion. “As the Commission sets its priorities for next year, we expect agency staff to investigate the companies’ safety and compliance controls; relationships with third-party sellers and consumers; and any representations they make when products are imported,” Feldman and Dziak wrote. Last year, a US congressional commission called out Shein and Temu in a report that suggested the companies and others in China were potentially linked to the use of forced labor, exploitation of trade loopholes, product safety hazards or intellectual property theft.
Persons: New York CNN —, Peter Feldman, Douglas Dziak, ” Feldman, Dziak, Shein, ” Temu, they’re Organizations: New, New York CNN, United, Consumer Products Safety Commission, CNN Locations: New York, United States, China
A sign is posted in front of a Dollar Tree and Family Dollar store on March 13, 2024 in Rio Vista, California. Shares of Dollar Tree fell more than 22% on Wednesday after the discounter cut its full-year outlook, citing increasing pressures on middle-income and higher-income customers. Dollar Tree includes two store chains, its namesake, which sells a wide variety of lower-priced items like party supplies, and Family Dollar, which carries more food. At Dollar Tree, same-store sales increased by 1.3% and at Family Dollar, same-store sales fell by 0.1%. Dollar Tree bought Family Dollar for nearly $9 billion in 2015 and since then, it's struggled to strengthen the grocery-focused chain and better compete with Dollar General.
Persons: Jeff Davis, Todd Vasos, Davis, it's, , Robert Hum Organizations: LSEG, Dollar, Walmart Locations: Rio Vista , California
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