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Wall Street is in the thick of earnings season, and some companies that have already reported could outperform going forward, Wolfe Research found. Following the bank's latest earnings report on Oct. 15, Wells Fargo reiterated its overweight rating on shares of Goldman Sachs. Shares rallied nearly 18% on Thursday after the health-care company posted earnings and revenue beats. Molina Healthcare earned an adjusted $6.01 per share, while the LSEG consensus estimate called for $5.81 in earnings per share. ServiceNow shares are up more than 35% year to date.
Persons: Wolfe, we're, Goldman Sachs, Wells, Mike Mayo, Molina, ServiceNow, Brad Sills Organizations: Wolfe Research, U.S, Molina Healthcare, . Software, Bank of America
This past Wednesday alone, he recorded 21 videos for the Harris campaign. Obama acolytes have spent the last eight years rationalizing Trump as the last gasp backlash to the Democrat and his presidency. While most of the party leaders Harris called that Sunday afternoon, including Bill Clinton, and immediately pledged support, Obama held off. Harris advisers knew Obama and former House Speaker Nancy Pelosi favored an open process to find a new nominee. And according to people who know about the conversations, he checks in with several of his own closest aides now helping run Harris’ campaign, such as current campaign chair Jen O’Malley Dillon and his own 2008 campaign manager, David Plouffe.
Persons: Barack Obama, Obama’s, president’s, Harris, Obama, Kamala Harris, Joe Biden, Donald Trump’s, He’s, he’d, Trump, rationalizing Trump, Bruce Springsteen, , Hannah Hankins, ” Obama, Kai Jones, Biden, Jones, Obama “, ” Austin Davis, It’s, Hakeem Jeffries, Michelle, Jeffries, Alexandria Ocasio, Cortez, Marie Gluesenkamp Perez, Mary Peltola, Chuck Schumer, Pennsylvania Sen, Bob Casey, Casey, Elissa Slotkin, Ruben Gallego, Josh Shapiro, Arizona Sen, Mark Kelly, he’s, Kelly, , Harris Obama, Mike Donilon, , Bill Clinton, diehards, feckless, Nancy Pelosi, Jen O’Malley Dillon, David Plouffe, she’s, Michelle Obama, She’s, Paige Mirsky, hadn’t, ” Mirsky, Eric Swanson, Swanson, Pitt, ” Amelia Staresink, Sara Kulkarni, Eve Majewski Organizations: CNN — America, CNN, Democratic, Trump, Democrat, Netflix, House, Democratic Party, , University of Pittsburgh, Washington, New, Democratic House, World Wildlife Federation, New York Rep, Washington Rep, Alaska Rep, Senate, Pennsylvania, Obama, August’s Democratic National Convention, White, Social Security, Republican Locations: Pittsburgh, Pennsylvania, New York, Washington, Alexandria, Michigan, Arizona, Buffalo, Canada, Grant Park
China's stock market has recently rebounded on the promise of further economic and market stimulus. The measures include cuts to a variety of interest rates , as well as support for China's flagging real estate sector . China's stimulus efforts The Shanghai Composite has rallied sharply in the aftermath of those moves but remains about 50% below its all-time high of nearly 6,000, last seen in 2007. These moves have failed to boost growth or lead to a durable and sustainable stock market rally. The U.S. stock market accounted for roughly 60% of global stock market valuation in 2023.
Persons: David Tepper, Let's, Ron Insana Organizations: Bank, Atlanta, Apple, Microsoft, Nvidia, Amazon, European Union, U.S . Energy, Administration, The, U.S, Olympus, CNBC Locations: United States, China, It's, Shanghai, U.S, Beijing, Europe, Canada, European, The U.S, Russia, Iran, North Korea
The history of the US Secret Service
  + stars: | 2024-09-16 | by ( Zachary B. Wolf | ) edition.cnn.com   time to read: +7 min
The agency was commissioned within the Treasury Department, and the Secret Service was entirely focused on counterfeit money, a major problem of the day. Threatening presidents was not made a crime until 1917, the same year Congress approved Secret Service protection for the immediate family of a president. The Secret Service remained a part of the Treasury Department until 2003, when a massive government reorganization after the 9/11 terror attacks moved the Secret Service to the Department of Homeland Security. But the Secret Service is still tasked with fighting financial crimes. The entire Secret Service employs nearly 8,000 people for its protective and investigative missions, and it secures thousands of events each year.
Persons: Abraham Lincoln, Allan Pinkerton, Lincoln, Erik Larson, Pinkerton, Union Gen, George McClellan, McClellan, Lafayette Baker, John Frederick Parker, Parker, John Wilkes Booth, Baker, Booth, Grover Cleveland, — James Garfield, William McKinley, Leon Czolgosz, Theodore Roosevelt, Roosevelt, Robert F, Kennedy, Trump’s reemergence, Trump, CNN’s Stephen Collinson, Kamala Harris, walling, Ryan Wesley Routh, Sen, JD Vance, Trump’s, Ron DeSantis, Kimberly Cheatle Organizations: CNN, Union, of Congress, Library of Congress, Smithsonian Magazine, Ford’s Theatre, United States Secret Service, Service, Treasury Department, Congress, White, California Democratic, Department of Homeland Security, Trump, Republican, Secret Service, Republican Gov Locations: Baltimore, Lincoln, Washington, DC, Los Angeles, New York City, Pennsylvania, West Palm Beach , Florida, Alexandria, Virginia
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. What we've been seeing in the market lately is a "classic pullback," Jim Cramer said Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Russell, Ford, management's, Jim, We're, Jim Cramer's Organizations: CNBC, Nasdaq, Nvidia, Ford Pro Locations: Wednesday's
However, Ford went 0 for 2 on Wednesday as an old enemy in warranty expenses returned to bite the Blue Oval. And it's an even more unfortunate setback because Ford management said on its April earnings call that the company has made "real progress" on its goal of making better vehicles. The best story at Ford remains Ford Pro , the unit that houses the company's fleet and commercial vehicles. But last quarter management said the business was tracking toward the higher end of the range, and that no longer appears to be the case. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan.
Persons: FactSet ., Motors, Ford, Morgan Stanley, Adam Jonas —, JD Power's, It's, Jim Farley, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Ford, LSEG, FactSet, General Motors, Tesla, Ford Model, Revenue, Ford Pro, Super Duty, CNBC, Ford Dearborn Plant, Getty Locations: Ford, management's, Dearborn , Michigan
Taylor Swift is back on TikTok despite a feud between the app and her label Universal Music Group. Swift's reemergence shows that even the world's biggest stars need TikTok to promote their work. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . UMG artists can still post videos on TikTok, but they can't use their own tracks, making it harder to push a new album. Related storiesSwift's return to TikTok shows that even the industry's biggest stars still need to use the app to help a new album take off.
Persons: Taylor Swift, Swift's, , Drake, Olivia Rodrigo, Taylor, she's, Swift, TikTok, Chauncey Hollis Jr Organizations: Universal Music Group, Service, Universal, Poets Department, Business, Spotify, AMC, Bloomberg Locations: TikTok, Hollywood, Singapore, Australia
Simon Harris becomes Ireland’s youngest-ever leader
  + stars: | 2024-04-09 | by ( Rob Picheta | ) edition.cnn.com   time to read: +7 min
CNN —Simon Harris has become the youngest-ever prime minister of Ireland, officially taking office in Dublin on Tuesday after Leo Varadkar suddenly stepped down last month. Harris, 37, ran unopposed to replace Varadkar as leader of the ruling Fine Gael party, and the final formalities of his rise to power were completed in the Dáil, Ireland’s parliament. And we are seeing innocent children, women, and men being starved and slaughtered,” Harris told lawmakers in the Irish parliament. The son of a taxi driver, born in eastern Ireland, Harris studied journalism and French at a Dublin university but dropped out to instead focus on politics. As health minister, Harris was prominent when Ireland voted to legalize abortion.
Persons: CNN — Simon Harris, Leo Varadkar, Harris, Varadkar, Sinn Fein, Israel, , ” Harris, Fine, , Brian Lawless, Simon Harris ”, “ chillax, “ Didn’t, chillax, , Jennifer Bray, Enda Kenny, Harris’s Organizations: CNN, Ireland, Fine Gael, Irish Republican Army, Irish, Hot Press, Varadkar, Twitter, , Sky News Locations: Dublin, Ireland’s, Ireland, Gaza, , Northern Ireland
But Japan's economy — the long-unconscious patient — recently started to wiggle its toe. The country's stock market is ripping; the Nikkei recently exceeded the all-time highs it set 34 years ago. Now, Koo says, Chinese academics and policymakers are flocking to Japan to glean some kind of wisdom from the country's experience. Advertisement"This has made Japan attractive for foreign investors, and the stock market has done well," Koo said. Even without a currency war with Beijing, the world is building defenses against another wave of Chinese goods.
Persons: , Goldman Sachs, there's, Nomura, Richard Koo, Koo, Shinzo Abe, Japan's, What's, it's, we're, haven't, Xi Jinping, doesn't, Xi, we've, Brasília Organizations: Nikkei, Goldman, Bank of Japan, Corporations, International Monetary Fund, Japan, Peterson Institute, European Union, China Locations: East Asia, China, Japan, Real, Tokyo, Beijing, Brussels, Brasília, American, Washington, Brazil, Turkey
What's on deck:This story is available exclusively to Business Insider subscribers. Long considered the bane of white-collar workers' existence, people now view cubicles as a sanctuary instead of a jail cell. AdvertisementCalling for a return to the cubes might seem odd when so many are pushing to evolve the workplace. Experts told Business Insider that a wave of retiring Boomers means the generation will soon be at "peak burden" to the economy. Get in touchAdvertisementinsidertoday@insider.comTo read unlimited articles, subscribe to Business Insider.
Persons: , It's, Rebecca Zisser, Long, Kelli María Korducki, haven't, Korducki, cubicles, Ken Griffin, Vernon Yuen, Jerome Powell, Donald Trump, buybacks, Tammi Jantzen, Joe Rogan, Both Rogan, BI's Peter Kafka, Jenny Chang, Rodriguez, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Business, Corporate, Citadel, Getty, Federal Reserve, Deutsche Bank, Spotify, Bureau of Labor Statistics, Boomers, Caterpillar Inc Locations: Silicon Valley, Wellington, Astarte, China, New York, London
BOSTON (AP) — Getting the chance to host seven matches for the 2026 World Cup was more than expected and offers a much-needed shot in the arm to the city’s economy, Boston officials said Monday. Among the seven matches that will be played at Gillette Stadium in the Boston suburb of Foxborough will be five group stage matches, one match in the round of 32 and a quarterfinal match on July 9, 2026. I don't think FIFA could have done a better job.”Martha Sheridan, president & CEO of Meet Boston, said “nothing compares” to hosting World Cup matches. Foxborough hosted games at the 1994 World Cup, but Gillette Stadium is a different venue, built near the old Foxboro Stadium. Foxborough also hosted matches during the 1999 and 2003 Women’s World Cup.
Persons: , Mike Loynd, , , it's, ” Martha Sheridan, Foxborough, Sheridan, COVID, ” Sheridan, Brian Bilello, ” Bilello Organizations: BOSTON, FIFA, Mexico City’s Estadio Azteca, New York Jets, Giants, Gillette, Boston Soccer, Boston, Amtrak, New England, U.S Locations: Boston, Mexico, Foxborough, Philadelphia and New Jersey, New York City, Philadelphia, New Jersey, United States, Massachusetts, U.S, Canada, Atlanta, Inglewood , California, SoFi
CNN —Donald Trump’s core general election argument is that President Joe Biden is weak and incapable as events spin out of control at home and abroad. Instead, we are on the brink of World War 3,” Trump said in a statement. So Trump’s picture of a world in disarray as Biden stands by helplessly may have some political potency. It remains to be seen whether voters will buy into the image Biden and his team are trying to paint of Trump. But his reemergence as the GOP’s likely nominee is also highlighting the extraordinary liabilities that he would carry into a general election.
Persons: Donald Trump’s, Joe Biden, , Trump, Biden, ” Trump, Joe Biden’s, Nikki Haley, Haley, Joe Biden weren’t, ” Haley, Republican Sen, Lindsey Graham of, Trump’s, – Trump, It’s, , Mike Johnson, I’d, , Democratic Sen, Christopher Murphy of, CNN’s Dana, Mitch McConnell, Johnson, it’s, Donald Trump, ” Biden, Nancy Pelosi, Shawn Fain, Jean Carroll, Organizations: CNN, GOP, Trump, New, Democratic, Baptist, United, Republican, Republican Party, Christopher Murphy of Connecticut, Union, United Auto Workers, UAW, Washington Locations: Nevada, United States, Jordan, New Hampshire, South Carolina, East, Iran, Lindsey Graham of South Carolina, Louisiana, “ State, Ukraine, France, Trump
Eliana Goldstein is a career coach for millennial and Gen Z workers. AdvertisementThis as-told-to essay is based on a conversation with Eliana Goldstein, a 35-year-old career coach from New York City. As a career and success coach who predominantly works with millennials and Gen Zers, I help people create careers that don't make them dread Monday morning . From there, we work on strategies to determine the right career path for them, then execute and land the job. Hospitality companies collect data on their guests, such as booking information and reviews, while tech companies collect data on consumer spending habits, among other things.
Persons: Eliana Goldstein, , millennials, Gen Zers, it's, We've, It's, They're Organizations: Service, Tech, Hospitality, Employers, Technology Locations: New York City
"American Nightmare" examines the 2015 kidnapping of Denise Huskins. AdvertisementIn 2015, a man broke into the Mare Island, California, home of Aaron Quinn, kidnapped his girlfriend Denise Huskins, and held her hostage for two days. On March 23, 2015, Quinn, then 30, reported that a man in a wetsuit brandishing a Taser had drugged him and then kidnapped Huskins. Denise Huskins and Aaron Quinn married in 2018 and have two daughtersAaron Quinn and Denise Huskins on their wedding day in 2018. Denise Huskins/InstagramDenise Huskins and Aaron Quinn stayed together after enduring the disturbing ordeal and tried to move on with their life.
Persons: Denise Huskins, Huskins, Quinn, , Aaron Quinn, Matthew Muller, Vallejo, Gillian Flynn's, Mr, Kenny Park, Muller, Miller, Quinn didn't, Shawny Williams, Williams, Netflix docuseries, Apiros, Olivia, Naomi Organizations: Service, Netflix, Local, Vallejo Police Department, Business, Vallejo Police, ABC7, Police Locations: Mare Island , California, Huntington Beach, Vallejo, Coast
Meme stocks have been on the rise recently as November's market rally brings a wave of bullishness. "The upshot: the reemergence of meme stocks shows investors' animal spirits are starting to run hot again," DataTrek said. AdvertisementMEME, BOTZ, and IWO have seen gains of 10.8%, 6.6%, and 5.9%, respectively, while the S&P 500 has gained 3.1% in that stretch. AdvertisementStill, the recent outperformance for funds with exposure to meme stocks reflect "generally bullish market conditions," Colas and Rabe maintained. DataTrek also noted on Tuesday that S&P 500 sector correlations suggests the November stock rally should continue through the end of the year.
Persons: , Nicholas Colas, Jessica Rabe, iShares Russell, DataTrek, Colas, Rabe Organizations: Service, Robotics, Treasury, IWO, GameStop, AMC
Israeli prime minister Benjamin Netanyahu during a press conference with defense minister Yoav Gallant and Cabinet minister Benny Gantz in the Kirya military base in Tel Aviv , Israel , 28 October 2023. Netanyahu's comments this week suggesting that Israel would be responsible for Gaza security indefinitely drew pushback from the United States, Israel's main ally. Speaking to U.S. television's Fox News on Thursday, Netanyahu said: "We don't seek to conquer Gaza, we don't seek to occupy Gaza, and we don't seek to govern Gaza." Netanyahu said a civilian government would need to take shape in Gaza but that Israel would make sure an attack like Oct. 7 does not happen again. Palestinian Prime Minister Mohammad Shtayyeh told PBS this week the PA would not return to Gaza "on the back of an Israeli tank".
Persons: Benjamin Netanyahu, Yoav Gallant, Benny Gantz, Washington, Israel, Netanyahu, Mahmoud Abbas, Abbas, Mohammad Shtayyeh, Rami Ayyub, Grant McCool Organizations: Hamas, television's Fox, Palestinian Authority, West Bank, Palestinian, PBS, Thomson Locations: Tel Aviv, Israel, ABIR, Gaza, United States, deradicalized
BERLIN (AP) — A leader of the far-right Alternative for Germany party was given medical treatment and then taken to a hospital shortly before he was due to speak at an election rally in Bavaria on Wednesday, police said. There were few details about what exactly happened at the event in Ingolstadt, before a state election on Sunday. The party said that Tino Chrupalla, one of its two co-leaders, was hospitalized following what it called a “violent incident,” German news agency dpa reported. According to the party, the incident happened in a crowd shortly before he was due to speak. Alternative for Germany, known by its German acronym AfD, was founded in 2013, initially with a focus against eurozone rescue packages.
Persons: , Tino Chrupalla, Chrupalla, Alice Weidel Organizations: BERLIN Locations: Germany, Bavaria, Ingolstadt
A small group of lawyers and media executives gathered in a well-appointed back room to listen to Gabriel Shipton, Assange's half-brother. In the case of Vault 7, WikiLeaks' source turned out to be a disgruntled former C.I.A employee. AdvertisementAdvertisementIn New York, Gabriel Shipton, Assange's half-brother, declined to rule out the possibility of a plea deal. Every time the Australian government raises this issue, the Chinese government puts out a statement about Julian Assange. Senator Peter Whish-Wilson, right, was part of a delegation of Australian officials in the US to press for the release of Julian Assange.
Persons: Julian Assange, Assange, Gabriel Shipton, Tucker Carlson, Tucker, Shipton, he'd, Anthony Albanese, Joe Biden, Monique Ryan, Albanese, Mike Pompeo, Caroline Kennedy, Der Spiegel, El Pais, David Hicks, Julian, John Shipton, Assange's, John, Gabriel, Brett Assange, Peter Whish, Wilson, We've, Robert Carr, Chelsea Manning's, Obama, We're, Cheng Lei, , Chelsea Manning, Manning, What's, Julian Assange's, John MacDougall, , they'd, he's, John Young, Laura Poitras's, Mueller, Robert Mueller's, John Podesta's, Bernie Sanders, John Koeltl, They've, Donald, Trump, we've, James Comey, Hillary Clinton, He's, I'm, Yevgeny Prigozhin's Wagner, I've, Putin, exfiltrate Assange, Julian wasn't, Dana Rohrabacher, Rohrabacher, Jennifer Robinson, Tracey Nearmy, we'd, Marjorie Taylor, Greene, Antony Blinken, Biden, Mattathias Schwartz Organizations: United Nations General Assembly, WikiLeaks, Washington Post, Washington, DOJ, The Washington, Australia's Labor Party, New, Biden, Senate Intelligence, Justice Department, New York Times, Guardian, Chelsea, Pentagon, Getty, Justice, The State Department, Laura Poitras's WikiLeaks, State Department, DNC, Democratic, Committee, Democratic National Convention, of, Russian Federation, Novaya Gazeta, Trump, CIA, The Justice Locations: New York, London, Assange's, Pacific, Ecuadorian, Washington, Russia, Australia, Shipton, Brig, Chelsea, Iraq, Australian, China, American, Moscow, Getty Shipton, … Shipton, Cryptome, There's, Southern, of New York, Russian, Ukrainian, Ukraine, Panama, schwartz79@protonmail.com
Unions have nowhere near the pull, or members, that they did decades ago, yet something has changed. Fain became president of United Auto Workers this year, but his time with the union began at that then-Chrysler plant in 1994. He vowed to clean up the union and unite members following a wide-ranging scandal that landed two former presidents in prison. The union under Fain has threatened to hit more plants if there is not enough movement from automakers during negotiations. Corporate greed is the problem.”Sean O'Brien, International Brotherhood of TeamstersMuch of what you need to know about Teamsters president Sean O'Brien is right there in his handle for X/Twitter: @TeamstersSOB.
Persons: Shawn Fain, Fain, Fain “, ” Fain, “ We’re, ” Sean O'Brien, Sean O'Brien, James Hoffa, Jimmy Hoffa, Hoffa, O’Brien, O'Brien, ” O’Brien, Fran Drescher, AFTRA Fran Drescher, , She's, they're, Drescher, , , Television Producers, Michael Winship, Lisa Takeuchi Cullen, WGAE’s, Takeuchi Cullen, ” Meredith Stiehm, Rich Talarico, Peele Organizations: Unions, Hollywood, UPS, United Auto Workers, Chrysler, UAW, General Motors, Ford, Fiat Chrysler, Detroit, Brotherhood, Teamsters, Amazon, Screen Actors, American Federation of Television, Radio Artists, SAG, Associated Press, Alliance, Television Producers, Writers Guild of America, WGA, Television, Writers Guild of America East, , CBS, Writers Guild of America West Locations: Missouri , Michigan, Ohio, Kokomo , Indiana, Boston, Hollywood
The octogenarian president is increasingly coming under scrutiny over his ability to serve a full second term if he wins in November 2024. But the trauma seizing Washington will soon intrude, transfixing the nation in a tumultuous 2024 election. The turmoil in the Republican Party is creating the kind of dysfunction and extremism that could turn off general election voters next year. In more placid times, the auto strike would be a dominant national issue defining a fraught political moment. But it’s just one of many crises threatening to overwhelm a political system that appears on the verge of a serious malfunction.
Persons: Donald Trump, Joe Biden’s, – Trump, Biden, Hunter’s, Kevin McCarthy, It’s, Washington’s, Volodymyr Zelensky, Trump, Zelensky, Vladimir Putin “, – Biden, tailgated, , McCarthy, Matt Gaetz, , Kevin, ” Gaetz, demagogue, Jack Smith, Tanya Chutkan, David Weiss, Hunter Biden, Trump’s, Hunter, , David Ignatius, Kamala Harris, it’s Organizations: CNN, Republicans, White, Republican, Trump Republicans, Senate, GOP, Hollywood, Press, NBC, Caucus, Florida GOP, Sunday, Fox News . House Republicans, Republican Party, Trump, United Auto Workers, Big Three, Biden Locations: American, China, Ukraine, Washington, Russian, Rosh
The grisly discovery was made on July 12 by climbers hiking along the Theodul Glacier in Zermatt, police in the Valais canton said on Thursday. "DNA analysis enabled the identification of a mountain climber who had been missing since 1986," the police said in a statement. "In September 1986, a German climber, who was 38 at the time, had been reported missing after not returning from a hike." The climber's remains underwent a forensic analysis at Valais Hospital, allowing experts to link them to the 1986 disappearance, the police said. Last year Switzerland's glaciers registered their worst melt rate since records began more than a century ago, losing 6% of their remaining volume -- nearly double the previous record in 2003.
Persons: Gabrielle Tétrault, Farber, Jonathan Oatis Organizations: Valais Hospital, Thomson Locations: GENEVA, Zermatt, Valais, German
CNN —First came Toys R Us’ roller coaster revival, and now Babies R Us is experiencing its own rebirth, too. Babies R Us, which went out of business in tandem with its parent company, Toys R Us, in 2018, is opening its new US flagship store on Wednesday at the American Dream Mall in New Jersey. Tru Kids had bought Toys R Us (which also owned Babies R Us) in a 2018 liquidation sale and had attempted to resurrect the toy store chain, opening two locations in New Jersey and Texas in late 2019. It opened a new 20,000 square foot Toys R Us flagship store, also at the American Dream Mall, in December 2021. He said Babies R Us’ comeback will “mimic” that of Toys R Us: “Expect the same ambitious rollout,” said Shmidman, adding that WHP is looking at taking Babies R Us nationwide with a similar partnership to Macy’s-Toys R Us.
Persons: CNN —, Yehuda Shmidman, , Jarrett Birnbaum, reemergence, , Shmidman, Organizations: CNN, US, WHP, Tru, Macy’s, Bed Locations: New Jersey, Texas
Furby, the ’90s toy phenomenon that divided kids and parents into opposing camps when it first hit stores and quickly became a craze, is making yet another comeback. The latest iteration of the animatronic toy launched on Amazon Thursday and rolls into stores nationwide on July 15 after a nearly 10-year gap. Still, Hasbro said it sold more than 40 million Furby toys globally in the first three years after they launched. In 2016, Hasbro launched Furby Connect, a version of the toy that incorporated Bluetooth for content upgrades via an app and an off button. “There’s a saying in the toy industry that what’s old is new again,” he said.
Persons: New York CNN —, Furby, pats, , Kristin McKay, Gen Alpha, , Jim Silver, “ Furby, Silver, , Barney Organizations: New, New York CNN, Hasbro, Amazon, Alpha, Hasbro Hasbro, Furby Locations: New York
However, a four-month drop in the dollar is threatening to derail that trend by raising the cost of imported goods. But the welcome relief on the prices front is now facing a new threat — in the form of a falling dollar. A weaker dollar raises the cost of imported goods, which would eventually feed into consumer prices in the US. The US is a net importer of materials such as lumber and semiconductors that are crucial in manufacturing supply chains, and these would become costlier due to dollar weakness. "If we continue to see the dollar trade at current levels or even increase in weakness, that would be a headwind in the fight against high global inflation," Lomholt told Insider.
To many executives, including Wall Street bank chiefs, even the ones who say a recession is in the cards, it isn't looking like a Fed-induced disaster scenario. In one particular way, the positioning this year is giving CFOs an even bigger role than they've had over the past decade of economic growth. "[Companies] are not imaging a draconian outcome for their own spending, their own budgets, and in that context," Arora told CNBC's Sara Eisen at Davos 2023. For many years in this hyper-growth environment, people were spending quickly to drive growth and CFOs were having to call them and say 'why are you spending so much money?' The Citi CIO Survey released on January 12, forecasts a slower growth rate for tech spending — well below the Covid peak and below the historical average, and down from Citi's last forecast in the Fall — but still representing a modest rate of growth.
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