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☆ China gears up for an uncertain 2025. How investors plan to prepare
▼ + stars: | 2024-12-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

"It is clear that China is setting the stage to increase stimulus in 2025, potentially to counteract any adverse trade policies from the incoming Trump administration," Costello said. Cambridge Associates is neutral on Chinese stocks, wanting to see more evidence of a pickup in growth. "With recovery of China's hospital procurement for medical equipment from September, we foresee a growth rebound for the China medical device sector in 2025," the HSBC analysts said. Snibe, traded in the Shenzhen market, can see 19% earnings growth, with Mindray profits expected to climb 15%. In contrast, this year's rally in Chinese stocks could snap multiple years of declines.

Persons: Aaron Costello, Stocks, Trump, Costello, Biden, Donald Trump, CNBC's Jim Cramer, Xi Jinping, Karoline Leavitt, Xi, Paul Christopher, Christopher, Wells, Downside, — CNBC's Michael Bloom Organizations: Cambridge Associates, Ministry of Finance, HSBC, Imaging, New York Stock Exchange, Fox News, Macro Research, Reuters, Citigroup, Wells, Wells Fargo Investment Institute Locations: Asia, Beijing, China, Shanghai, Shenzhen, U.S, Wells Fargo, Hong Kong

☆ Top Wall Street analysts believe in the long-term prospects of these stocks
▼ + stars: | 2024-12-15 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

To pick such stocks, investors can track the recommendations of Wall Street experts, who perform in-depth analysis to offer useful insights about a company's strengths and growth opportunities. Here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. The database software company crushed analysts' expectations in its fiscal third quarter, thanks to solid demand for its Enterprise Advanced (EA) and Atlas offerings. Further, the analyst noted the company's decision to reallocate certain mid-market investments to prioritize the Enterprise segment. 511 among more than 9,200 analysts tracked by TipRanks.

Persons: Pavlo Gonchar, GitLab, Gray Powell, Powell, TipRanks, Michael Gordon, Needham, Mike Cikos, Cikos, SentinelOne Organizations: Lightrocket, Getty, Wall Street, EA, Daily Locations: U.S

When I first started learning how to budget, I meticulously tracked every penny in a spreadsheet. These gurus taught me that developing sound money habits was a vital first step to achieving both goals. While they sometimes disagreed about what those sound money habits should be, one recurring suggestion I encountered was to track every last penny I spent or earned. Second, confronting my spending habits in black and white gave me an honest view of where my money was going. While developing sound money habits is important, recognizing when they've outlived their usefulness is also important.

Persons: Suze Orman, J.D, Roth, overspending, they've, doesn't Organizations: Business, Service Locations: reallocate

That's sure to result in increased volatility for the companies in our portfolio exposed to China, the world's second-largest economy. Consumer-dependent stocks Apple and Starbucks may be the most at risk given they are more discretionary versus the aforementioned names. At the Club, Jim has bestowed his "own it, don't trade it" designation on only those two stocks, Apple and Nvidia. AAPL YTD mountain Apple YTD Furthermore, while China growth may be tempered, Apple is aggressively looking to grow its presence in India — both on the consumer side and product manufacturing side of its business. Bottom line The risks for companies that do business in China have certainly increased following Trump's presidential election win.

Persons: Donald Trump, Jim Cramer, Joe Biden, Jensen Huang, Leonardo da Vinci, Lisa Su, Su, Tim Cook, Trump, Jim, China —, Brian Niccol, Niccol, we're, Jim Cramer's, Xi Jinping, Kevin Lemarque Organizations: Devices, Nvidia, GE Healthcare, Apple, AMD, Trump, Club, Bloomberg, U.S, Starbucks, Yum Brands, China, Taco Bell, Chipotle, Jim Cramer's Charitable, CNBC Locations: we're, China, U.S, India, Vietnam, Osaka, Japan

☆ Arm CEO says AI growth is being limited by finding enough talent: 'I need more engineers'
▼ + stars: | 2024-10-28 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Arm CEO Rene Haas said in a recent interview that he needs more engineers to drive AI growth. Companies are aggressively recruiting top AI talent, with some offering lucrative compensation. AdvertisementThe AI train is running at full steam, but Arm CEO Rene Haas believes there's one thing they need to keep it moving — more engineers. The comments from Arm and its CEO highlight how the generative artificial intelligence boom following ChatGPT's launch nearly two years ago has led to a talent war for top AI engineers and researchers. Related storiesA limited pool of researchers and candidates with experience in areas like machine learning and data engineering has allowed AI talent to become more selective when evaluating job offers.

Persons: Rene Haas, —, Haas, Sam Altman, Mark Zuckerberg, Ram Srinivasan, JLL Organizations: Service, Bloomberg, SEC, Competition Locations: British, PwC

☆ Cox: Corporate America has consistently proven Wall Street wrong.
▼ + stars: | 2024-10-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCox: Corporate America has consistently proven Wall Street wrong. Callie Cox, Chief Market Strategist at Ritholtz Wealth Management, sees opportunities in stocks despite lowered Q3 earnings estimates, advising investors to reallocate tech holdings into value options.

Persons: Callie Cox Organizations: Cox, America, Ritholtz Wealth Management

County election officials in Florida, meanwhile, are facing a potential new challenge after Hurricane Milton made landfall on its western coast late Wednesday. Other county election offices in the state similarly said this week that that they would perform fresh assessments of their election infrastructure following Milton. Chris O'Meara/AP David Jalving throws outdoor furniture into his father's pool in Fort Myers to prepare for Hurricane Milton. Marta Lavandier/AP A man in Progreso boards up an apartment building to protect it from Hurricane Milton on Monday. “We should have the most poll workers we’ve ever had here in Oconee County,” said Ryan Nowland, assistant director of Oconee County elections.

Persons: Hurricane Helene, “ I’ve, ”, Mary Beth Tipton, “ We’ve, ” Tipton, Yancey County, Hurricane Milton, “, ” Brian Corley, Milton, Robert Inman, Inman, Cliff Marr, Marr, ” Marr, Helene, Karen Brinson Bell, Bell, Corinne Duncan, Duncan, ” Duncan, Christopher Heath, Ron DeSantis, Corley, Bill Nye, CNN Kari Ewalt, Osceola, ” Ewalt, they’re, Conway Belangia, I’ve, Belangia, Connie Gore, Cecelia Smith, Crystal Vander, Miguel J, Rodriguez Carrillo, Robert Turick, Turick, Rebecca Blackwell, Cristobal Herrera, Julio Cortez, Giorgio Viera, Ricardo Arduengo, Liz Kelly, Matt, Andrew West, Chandan Khanna, Nadia Zomorodian, Austin, Joe Raedle, Sean Rayford, Marta Lavandier, Jefferee Woo, Bryan R, Smith, Chris Urso, Marco Bello, Brandon Marlow, Marie Cook, Bill Ingram, Reuters Stephen Lundgren, Doug Engle, Ron Rook, Paul Hennessy, Saul Martinez, Payton Wyse, Andrew Goncharsky, Christian Burke, Lee, Connor Ferran, Fort Myers, Nicolette Mariano, Kaila Jones, Damon Higgins, Ted Carlson, McKenzie, Evan Purcell, Purcell's, Anna Maria Island, Carlson, Yamil Lage, Matthew Dominick, NASA Aurelio Ortiz, Lorenzo Hernandez, Mike Carlson, Jose Luis Gonzalez, Reuters John Fedor, Chris O'Meara, David Jalving, Pete, Octavio Jones, Tristan Wheelock, Gerald, Martin Zetina, Gregg Newton, ” Belangia, we’ve, Ryan Nowland, “ We’re, everyone’s Organizations: CNN, Trump, Hurricane, “ Communications, Republican, Republican Gov, Voters, Osceola County’s, South, USA, AFP, Getty, AP, Daytona, Network, Reuters, Bradenton, Tropicana, Major League, Tampa Bay Rays, Celtic Ray Public, Tampa Bay Times, NOAA, Vanguard, School, Ocala, Orlando International Airport, Anadolu, Disney, Fort, Palm Beach Daily, Florida Army National Guard, Tampa General Hospital, NASA, International, Milton, Tampa International Airport, Bloomberg, AP Contractors, New Port Richey, AP Tropicana Locations: Carolina, Hurricane, North Carolina’s Yancey County, Yancey, Florida, Florida’s Pasco County, North Carolina, North Carolina’s, Haywood County, North Carolina’s Polk County, ”, Buncombe County, Asheville, Covid, Orange County, Milton, Pasco County, South Carolina, Greenville County, ” County, Martin County , Florida, Port St Lucie , Florida, Englewood , Florida, Manasota Key, Hurricane Milton, Venice , Florida, Riverview , Florida, Lakewood Park , Florida, Siesta Key, Punta Gorda , Florida, North Fort Myers , Florida, Siesta, Volusia, South Daytona , Florida, Bradenton Beach, St . Petersburg, Punta Gorda, Odessa , Florida, Venice, Matlacha , Florida, Palmetto Beach, Tampa, Bradenton , Florida, St . Petersburg , Florida, Clearwater, AFP, Sarasota , Florida, Segundo, Davis, Fort Myers , Florida, Wellington , Florida, Palm, Ocala , Florida, County, Wellington, Orlando, Gulfport , Florida, Lee County, Fort Myers, Sebastian , Florida, Palm Beach , Florida, Palm Beach, Havana, Cuba, Celestún, Mexico, Port Richey , Florida, Tampa Bay, Treasure Island , Florida, St, Pete Beach , Florida, Treasure, Fort Myers Beach, Progreso, New Port, Kissimmee , Florida, Pickens County, Oconee County, Oconee

☆ US Navy's new submarines are 'in crisis' as costs balloon by $17 billion, lawmaker says
▼ + stars: | 2024-09-20 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

The news comes after a major report earlier this year revealed the Navy's biggest projects, including new Virginia-class submarines, were facing severe delays of up to three years. Absent today's intervention, I have zero confidence that Navy shipbuilding will get back on track." The Navy attributed shipbuilding delays across its top programs to COVID-19's impact on the workforce and supply chain. "Somehow, the Navy continues to assert that commitments to INDOPACOM and our AUKUS partners remain on track" despite Virginia-class delays, he said. Virginia-class submarines are considered vital to the US' role in deterring and, if necessary, fighting China.

Persons: —, Ken Calvert, Calvert, Carlos Del Toro, Christopher Kastner, Politico, Del Toro Organizations: Service, Business, Navy, California Republican, General Dynamics Corp, Huntington Ingalls Industries, U.S . Navy, Shipyard, White, DOD, Pentagon, US Navy Public Affairs, Columbia, US Navy, US, Royal Australian Navy Locations: Virginia, California, Columbia, China, Australia

☆ Investors are pouring into this defensive corner of the stock market amid fears of an economic slowdown
▼ + stars: | 2024-09-17 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Analysts are increasingly recommending defensive stocks to blunt the impact of an economic slowdown. The S&P 500's consumer staples sector has risen more than 4% in the last month. AdvertisementAmid fears of a recession and increased market volatility, analysts have been pointing to defensive stocks as a safe bet to hedge macro risk. Among defensive sectors — which include things like real estate and financials — investors recently have been pouring into consumer staples in particular. With the Federal Reserve likely to finally cut rates at its meeting this week, defensive stocks could be poised for further growth.

Persons: —, Morgan Stanley's, Mike Wilson, Wilson, that's, Savita Subramanian, Subramanian Organizations: Service, Retailers, Walmart, Target, Bank of America, P Global Semiconductor, Financial Times, Bloomberg, Federal Reserve Locations: cyclicals

Leo and Faith Jean-Louis were paying about $2,200 in minimum monthly payments towards their debt. In order to maintain their debt payments, the couple had a minimum monthly payment of $2,200 between the two of them. At that rate, it would take them 15 years and cost them $125,000 in additional interest to pay off their debt. After returning from their honeymoon in Greece, they decided to tackle their debt and pay it off as soon as possible. Leo and Faith didn't want their kids to start their lives off financially behind or in debt like they did.

Persons: Leo, Faith Jean, Louis, —, Leo Jean, Roth, Faith didn't, Faith, hadn't, doesn't, Faith babysat, couldn't Organizations: Service, Ramsey Locations: Greece

☆ Stocks won't hit new highs anytime soon and 3 things mean the market is fairly valued, Wells Fargo says
▼ + stars: | 2024-09-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The S&P 500 probably isn't hitting fresh highs anytime soon, according to Wells Fargo. AdvertisementThe stock market's long winning streak may be done for now, Wells Fargo said. That's because to a trifecta of headwinds will cap gains for the S&P 500. "For these reasons, we find it unlikely that the S&P 500 Index will reach meaningful new highs in the coming months." Since then, growth fears have overshadowed excitement about rate cuts, and questions about the sustainability of the AI rally have dented tech bullishness.

Persons: —, Wells Fargo, Stocks, Kamala Harris, Donald Trump Organizations: Service, Federal, Fed, Investor Locations: Wells Fargo

☆ Head of Panel That Ruled Against Jordan Chiles Represented Romania in Other Cases
▼ + stars: | 2024-08-13 | by ( Tariq Panja | ) www.nytimes.com time to read: +1 min

The head of a panel that ruled that the American gymnast Jordan Chiles had to give up her Olympic bronze medal in favor of a Romanian athlete has represented Romania for almost a decade in arbitration cases, documents show. The Romanian athlete, Ana Barbosu, was awarded the bronze medal as a result of the panel’s decision, and Chiles was dropped to fifth place. The result left Chiles brokenhearted: It took away her only individual medal at the Games, and means her appearance on the podium — the first all-Black medals stand at a gymnastics event at the Olympics — is now left with an asterisk. Chiles posted four broken heart emojis on a black background on social media on Saturday after the decision was announced, and later said she was stepping away from social media altogether amid a torrent of racial abuse. The decision to reallocate the medals in the floor exercise outraged U.S. Olympic and gymnastics officials, who have threatened to take their fight to the Swiss courts.

Persons: Jordan Chiles, Chiles’s, Ana Barbosu, Chiles, Hamid G, — Organizations: Olympics, Sport, Games Locations: Romanian, Romania

PARIS — U.S. gymnast Jordan Chiles must return her bronze medal in the floor exercise, the International Olympic Committee said Sunday, upholding findings that a coach's protest that got her on the podium shouldn't have been allowed. Romanian Ana Bărbosu, 18, will now be the floor exercise bronze medalist. "We are devastated by the Court of Arbitration for Sport ruling regarding women’s floor exercise," according to a statement issued by USA Gymnastics on Saturday night. "The inquiry into the Difficulty Value of Jordan Chiles’ floor exercise routine was filed in good faith and, we believed, in accordance with FIG rules to ensure accurate scoring." "I am taking the time and removing myself from social media for my mental health thank you," she wrote.

Persons: Jordan Chiles, Chiles, Cecile Landi, Marcel Ciolacu, he'd, Romanian Ana Bărbosu, Ana Bărbosu, She's, Jordan, she'd, David K, Li, Sean Nevin Organizations: PARIS, International Olympic, Romanian, IOC, Sunday, Sport, International Gymnastics Federation, NOC, USA Gymnastics Locations: U.S, Romanian, Romania, France, New York City, Tokyo, Paris, London

☆ Jordan Chiles: US gymnast stripped of bronze medal in floor exercise
▼ + stars: | 2024-08-11 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —The International Olympic Committee (IOC) announced on Sunday that the bronze medal given to American gymnast Jordan Chiles in the floor exercise at the Paris Games will be awarded to her Romanian counterpart Ana Bărbosu. And the IOC confirmed that the score change will mean Chiles will be stripped of her bronze and given to Bărbosu. Ana Bărbosu reacts after competing in the women's floor exercise. Immediately after the competition finished on Monday with Chiles’ routine, Bărbosu thought she had won the bronze medal after posting a score of 13.700. However, CAS’ ruling that the inquiry submitted on behalf of Chiles “was raised after the conclusion of the one-minute deadline” stipulated in the regulations threw Chiles’ medal into doubt.

Persons: Jordan Chiles, Ana Bărbosu, Chiles, Ana Barbosu, “, Jordan, Jamie Squire, Rebeca Andrade, Simone Biles, Andrade, Chiles “, ” CNN’s Issy Ronald, Jacob Lev, Homero De La Fuente, Dan Moriarty Organizations: CNN, Olympic Committee, Paris Games, Sport, USA, Gymnastics Federation, IOC, International Gymnastics Federation, NOC, Paralympic, FIG, Games Locations: Romanian, Romania, ”, “

☆ Jordan Chiles to lose Olympic bronze medal after court overturns score change
▼ + stars: | 2024-08-11 | by ( Zack Pierce | ) www.nytimes.com time to read: +3 min

“The IOC will reallocate the bronze medal to Ana Bǎrbosu (Romania),” the statement said. But her coach, Cecile Landi, submitted an inquiry to challenge the difficulty score Chiles had received. The court agreed, invalidating Chiles’ score, and the International Gymnastics Federation, known as FIG, then announced that it had officially changed the ranking of the competition, putting Chiles back in fifth place. “The inquiry into the Difficulty Value of Jordan Chiles’ floor exercise routine was filed in good faith and, we believed, in accordance with FIG rules to ensure accurate scoring,” the statement said. AdvertisementA few days later, she was in the floor exercise final.

Persons: Jordan Chiles ’, Ana Bǎrbosu, Chiles, Cecile Landi, Sabrina Maneca, Landi, Jordan Chiles, Jordan, ” Chiles, “, ” Simone Biles, Naomi Baker, Simone Biles, Sunisa Lee, Lee, She’s, — Organizations: Paris Games, International Olympic, National Olympic, Sport, International Gymnastics Federation, U.S, Olympic, Paralympic Committee, Disneyland Paris Locations: Romania, Bǎrbosu, ”

☆ Bitcoin miner Core Scientific rides AI from bankruptcy to $6.7 billion partnership in eight months
▼ + stars: | 2024-08-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

In January, U.S. bitcoin miner Core Scientific was bankrupt and battling angry lenders. Core Scientific will deliver an additional 112 megawatts of computing infrastructure to support CoreWeave's operations. Core Scientific said the deal will generate an additional $2 billion in revenue over 12 years, on top of an existing arrangement that's expected to bring in $4.7 billion. In total, the company plans to provide about 382 megawatts of infrastructure to CoreWeave by the first half of 2026, with the possibility of adding 118 megawatts at other Core Scientific sites. "We've seen tremendous growth since our emergence in January and have been laser focused on developing best-in-class digital infrastructure," Core Scientific CEO Adam Sullivan told CNBC.

Persons: We've, Adam Sullivan Organizations: Nvidia, CNBC

☆ We recommend defensive value amidst market turbulence, says Stifel's Bannister
▼ + stars: | 2024-08-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe recommend defensive value amidst market turbulence, says Stifel's BannisterBarry Bannister, Stifel chief equity strategist, joins 'Money Movers' to discuss whether equity markets are nearing their bottom, whether investors should reallocate their portfolios, and more.

Persons: Stifel's Bannister Barry Bannister

☆ How the AI revolution could cost you your job without replacing you
▼ + stars: | 2024-07-26 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

But as tech firms plan to invest billions of dollars in generative AI technologies, there's been another explanation for job cuts. While there's been a mountain of speculation about if and when AI technologies like ChatGPT could displace workers, their near-term impact on job losses could be less about job replacement and more about the cost of AI investments. The risks of AI job replacement remains to be seenIn the big picture, Netzer said he expects AI technologies to be an "enhancer rather than a replacer of jobs" in the years ahead. Advertisement"For many jobs, AI is likely to enhance our job, allowing us to spend more time on the things we enjoy doing and less time on the mundane," he said. AdvertisementBenedikt Frey pointed to translators as one profession that has seen fewer employment opportunities due to generative AI, per his research.

Persons: —, there's, Goldman Sachs, Mark Zuckerberg, Meta, Sundar Pichai, Daniel Rausch, Dan Ives, It's, Carl Benedikt Frey, Netzer, Benedikt Frey Organizations: Service, Apple, Microsoft, Industry, Business, Google, Amazon, Alexa, Fire, Wedbush Securities, Big Tech, FT, Columbia Business School, University of Oxford

☆ Kamala Harris has Biden's endorsement as Democratic nominee. Here are her next steps
▼ + stars: | 2024-07-21 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Kevin Mohatt | ReutersVice President Kamala Harris on Sunday received President Joe Biden's endorsement to replace him at the top of the Democratic ticket in the race against Donald Trump. "I am honored to have the President's endorsement and my intention is to earn and win this nomination," Harris said in a Sunday statement. Biden's endorsement puts Harris on a glidepath to the Democratic nomination. Secure nominationThough Harris has a significant leg-up with Biden's endorsement, she is not the Democratic nominee until the necessary number of delegates say so. The voting process will repeat itself until a candidate wins a majority and can be officially designated the Democratic nominee.

Persons: Kamala Harris, Kevin Mohatt, Joe Biden's, Donald Trump, Harris, Carol Hamilton, Josh Shapiro, Andy Beshear, Arizona Sen, Mark Kelly, Roy Cooper, J.B ., Pete Buttigieg, Gretchen Whitmer, Biden, Anna Massoglia Organizations: Air Force, Joint Base Andrews, Reuters, Sunday, Democratic, Democrats, Trump, CNBC, Pennsylvania, Kentucky Gov, North Carolina Gov, Illinois Gov, J.B . Pritzker, Transportation, Michigan Gov, Democratic National Convention, Federal Locations: Philadelphia , Pennsylvania, Joint Base Andrews , Maryland, U.S, India, Jamaica, Kentucky, Arizona, Illinois, Chicago

☆ Boneparth: Time to pare back exposure from mega-caps and reallocate to small-caps
▼ + stars: | 2024-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoneparth: Time to pare back exposure from mega-caps and reallocate to small-capsDouglas Boneparth, President of Bone Fide Wealth, discusses how to navigate market volatility.

Persons: pare, Douglas Boneparth Organizations: Bone

Here's what you need to know about how to get out from under your student loan debt fast. Interest rates play a role: High interest rates demand aggressive tactics. Key strategies to tackle your student loansBudgeting is your foundationThe path to paying down your student loans starts with a budget. When it's a federal student loan, that means knowing who your federal student loan servicer is, and that can change from time to time. To calculate how long it will take to pay off your loans, student loan calculators can help.

Persons: There's, Mark Reyes, Sallie Mae, Rick Castellano, it's, servicer, Reyes, Castellano, You'll Organizations: Albert, Chevron

CNN —A federal judge on Monday dismissed the classified documents case against Donald Trump, a shock ruling that clears away one of the major legal challenges facing the former president. In a 93-page ruling, District Judge Aileen Cannon said the appointment of special counsel Jack Smith violated the Constitution. She did not rule on whether Trump’s alleged mishandling of classified documents was proper or not. Even though a trial before the presidential election was considered highly unlikely, many legal experts had viewed the classified documents case as the strongest one of the four cases that were pending against the former president. Smith had charged Trump last year with taking classified documents from the White House and resisting the government’s attempts to retrieve the materials.

Persons: Donald Trump, Aileen Cannon, Jack Smith, ” Cannon, Cannon, Trump, ”, Smith, –, Clarence Thomas, James Pearce, “, Justice Department “, it’s Organizations: CNN, Republican National Convention, Truth Social, Justice Department, White, Trump, DOJ, United, United States Attorney Locations: Washington , DC, Georgia, New York, United States

There may be a path for Smith to revive the case, Cannon noted in her ruling, and Smith can appeal the decision. Cannon left open a potential pathway in her ruling for the classified documents case to be revived. (He is being prosecuted by a separate special counsel, David Weiss.) And during the Trump-Russia investigation, multiple Trump allies similarly attempted to derail special counsel Robert Mueller’s work. Former Attorney General Edwin Meese and Citizens United argued the same, writing that Smith’s appointment “severely undermines” the constitutional order.

Persons: Donald Trump’s, Aileen Cannon, Jack Smith, General Merrick Garland, Smith, Cannon, Trump, “, ”, ” Cannon, Garland, Bill Barr, John Durham, Smith’s, it’s, Clarence Thomas The, Clarence Thomas, Thomas ’, Thomas, John Roberts, wasn’t, ” Thomas, Steve Vladeck, Joe Biden’s, Hunter Biden, David Weiss, Robert Mueller’s, James Pearce, Cannon’s, Edwin Meese, ” “ Organizations: Washington CNN, Trump, Republican National Convention, Republican, Justice Department, Senate, United, United States Attorney, Defense, Treasury, The, Prosecutors, CNN, Georgetown University Law Center, FBI, Former, Citizens United Locations: Milwaukee, United States, California, Delaware, Russia, Virginia, Washington, DC, Mar

☆ We are upgrading our rating on Wells Fargo as investors dump stock post-earnings
▼ + stars: | 2024-07-12 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We are more excited by the outperformance of non-interest income than we are disappointed with the miss on net interest income. However, the team added, many of the factors driving net interest income are uncertain heading into the second half of the year. We don't like to see guidance misses, but bank interest income estimates depend on interest rates, which Wells Fargo has no real control over. Non-interest income increased 12% thanks to higher asset-based fees driven by an increase in market valuations.

Persons: Wells Fargo, Wells, Charlie Scharf, He's, Scharf, Wells Fargo's, —, It's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Wells, Bank of America, Citigroup, Management, Silicon Valley Bank, Consumer, Auto, Corporate, Wealth, CNBC, Getty Locations: Wells Fargo, Wells, NII, Silicon

☆ Companies are going bankrupt at the fastest past since the pandemic
▼ + stars: | 2024-07-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Read previewA historic surge of corporate bankruptcies is hitting Wall Street, with this year's volume of filings already above levels seen in the past 13 years, S&P Global Intelligence reported. When, earlier this year, hope was much stronger for a quick and significant reduction to interest rates, bankruptcies remained more subdued, S&P previously noted. AdvertisementYet, deteriorating consumer spending is also grinding down on corporate prospects. AdvertisementAmong notable June bankruptcies tracked by S&P Global, were the electric vehicle maker Fisker, as well as Redbox DVD rental operator Chicken Soup for the Soul Entertainment. That's followed by healthcare and industrials, S&P Global reported.

Persons: —, Tacking, Mark Zandi, Zandi, That's Organizations: Service, P Global Intelligence, Business, Global, Federal Reserve, CNBC, Fed, Nike, Walgreens, P Global, Soul Entertainment

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