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President-elect Donald Trump's second term could spell big gains for Robinhood , according to Bernstein. Analyst Gautam Chhugani, who has an outperform rating on the stock, increased his price target by $21 to $51 and named it his top "crypto deregulation" trade. "But under a potentially new pro-crypto SEC, this looks set to change, and we expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds." Among the 17 analysts covering Robinhood, nine have a strong buy or buy rating, according to LSEG data. On the other hand, seven have taken a neutral stance with a hold rating and one has an underperform rating.
Persons: Donald Trump's, Bernstein, Gautam Chhugani, skyrockets, Chhugani, Gary Gensler, HOOD, , Oppenheimer, Teresa Goody Guillén –, BakerHostetler, Trump, Owen Lau Organizations: Robinhood, Securities and Exchange Commission, Trump, SEC Locations: HOOD
Shopify shares popped more than 25% in Tuesday morning trading after the Canadian e-commerce company posted better-than-expected revenue for the third quarter and gave an optimistic forecast for the holiday shopping season. Revenue: $2.16 billion vs. $2.12 billion expected by LSEGShopify said it expects revenue in the current quarter to grow at at a percentage in the mid- to high-twenties. That surpassed Wall Street's expectations of 22.8% for revenue growth, according to FactSet. Shopify sells software for merchants who run online businesses as well as services such as advertising and payment processing tools. Shopify shares are up about 45% year to date.
Persons: LSEG Shopify, FactSet, Gross, Harley Finkelstein, Vera Bradley, Hanes, Finkelstein, Jeff Hoffmeister Organizations: Walmart, Lionsgate Entertainment, Reebok, Nasdaq
Americans disappointed with the outcome of the U.S. election took their anguish online, with searches related to moving abroad surging following the results of the presidential race. Google Trends showed that searches related to "leaving the country" and "how to move to …" spiked following the news that Donald Trump would be returning to the White House. Searches for "how to move to Canada" peaked on Nov. 6, with Google Trends showing interest in the phrase highest among Democratic strongholds, like Vermont, Maine, Oregon and Washington. A survey conducted earlier this month found that 21% of Americans said they would consider moving abroad if their preferred candidate lost the race. Among those polled, nearly 60% said they would be "very unlikely" to move, while only 2.6% said they were "very likely" to uproot and leave.
Persons: Donald Trump Organizations: Google, Democratic, NBC, Trump —, Casino.org Locations: Canada, Vermont , Maine , Oregon, Washington, Wisconsin, Pennsylvania, Oregon, Minnesota, Indiana
In today's big story, Big Tech is pulling back on the freebies for its employees . The perks help recruit and retain talent and keep employees working at the office. Some Amazon employees aren't buying it. It's not all bad news for Amazon employees, though. Some Amazon employees support Jeff Bezos' controversial WaPo decision.
Persons: , David Arky, Tyler Le, Insider's Lara O'Reilly, Rob Price, Hugh Langley, Sydney Bradley, It's, Matt Garman, Frederic J . BROWN, BI's Jyoti Mann, Ashley Stewart, Garman, Stave Huffman, Spencer Platt, Natalie Ammari, Tesla, Meta, Jenny Chang, Rodriguez, Harris, Trump, you'll, Jeff Bezos, Bezos, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Microsoft, SEC, Big Tech, Meta, Citibank, Tech, Services, Getty, Amazon Web Services, Amazon, BI, Google, Semiconductor, Intel, Washington Post, Apple Locations: OpenAI, AFP, New York, London
Hurricane Milton's insured losses could cost between $30 billion and $50 billion, said analysts. AdvertisementHurricane Milton stormed Florida on Wednesday, leaving an estimated $30 billion to $50 billion of insured losses, according to analysts from Fitch Ratings in a Thursday note. Milton's insured losses could range from $30 billion to $50 billion, according to Fitch, making it the largest since Hurricane Ian in 2022, which caused $60 billion in damages. According to a September report by Moody's Analytics, Hurricane Helene's insured losses were between $20 billion and $34 billion. Fitch analysts said local insurers might face insufficient reinsurance coverage to handle the losses and drive up premium rates.
Persons: , Hurricane Milton, Milton, Alejandro Mayorkas, Fitch, Ian, Morningstar DBRS, Jefferies, Ron DeSantis, Helene Organizations: Service, Hurricane, Fitch, US Homeland, White, Morningstar, Reuters, Analytics, National Hurricane Center, Gov, Moody's Analytics, P, Global, Swiss RE Locations: Florida, Tampa, Swiss, Fitch
The good news is that recent data suggests a decline in overdose deaths, the first significant drop in decades. Skyrocketing overdose deaths are nearly unavoidable, regardless of whether a state enforces tough penalties for drug possession or decriminalizes it. Since 2021, at least two-thirds of America’s 100,000 annual overdose deaths involved a synthetic opioid like fentanyl. Overdose deaths in the Northeast Deaths per 100,000 people Looking at regional overdose deaths shows this pattern clearly. It’s not coincidental that the exponential rise in overdose deaths has occurred in tandem with a profound increase in income inequality.
Persons: bartenders, skyrockets, didn’t Organizations: for Disease Control, National Forensic Laboratory Locations: East Coast, United States, America, East, Mississippi, Texas, Idaho, Oregon, New York City, Chicago, Rural West Virginia, Florida, West, U.S, Mexico
Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.
Persons: , Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside
Since October 8, the day after Hamas’ deadly attack on Israel, there has been regular cross-border fire between Hezbollah and the Israeli military. Hezbollah first fired at Israel to protest the war in Gaza, demanding a ceasefire there as a condition to end its attacks. Should Israel enter full-scale war with Hezbollah, experts say it will face a much stronger threat than Hamas – and commensurate costs. “It’s devastating on the Israeli economy, on Israeli society,” Guzansky said, adding that the impacts will live on for years to come. Domestically, while Israelis showed a greater appetite for fighting at the outset of the Gaza war, polls show that domestic support has waned over the last months.
Persons: Israel, , , Yoel Guzansky, Tsur Shalom, Abbas Ahmad Srour, Mohammad Hussein Kassem, Chris McGrath, Hassan Nasrallah, ⁠ Behnam Ben Taleblu, ” Ben Taleblu, Mizrahi, ” Orna Mizrahi, ” Mizrahi, Yoav Gallant, Guzansky, Netanyahu, Mostafa Alkharouf, ” Guzansky, , Lebanon's, Jack Guez, Amir Yaron, That’s, Moody’s Organizations: CNN, Hamas, Israel, Institute for National Security Studies, National Security Council, Reuters, Military, Ramat, Foundation for Defense of Democracies, Washington DC, IDF, Israel Defense Forces, Israeli, Division, Getty, Organization for Economic Cooperation, Development, Lebanon's Hezbollah, Bank, Israel Democracy Institute Locations: Gaza, Israel, Lebanon, Tel Aviv, Kiryat, Moreshet, Haifa, Aita al Chaab, Israel’s, Iraq, Yemen, , Ramat David, Lebanese, Iran, , Anadolu, Independence, Kiryat Bialik, AFP
The U.S. lawsuits filed in DC Superior Court Monday shine a spotlight on the supply chains of some U.S. companies operating in the Mexican avocado industry. Reuters could not independently verify the accounts from the local residents or Climate Rights International’s findings. “They have even gone to destroy avocado orchards,” said Claudia Alejandra Sanchez, an activist for Michoacán’s Purepecha Indigenous people. Reuters reviewed copies of letters shared by Climate Rights International. Most of those companies have publicly pledged to adhere to sustainable supply chains in compliance with local laws.
Persons: Del, Richman, Mexico Ken Salazar, avocados, , Claudia Alejandra Sanchez, Michoacán’s, Guardian Forestal, ’ avocados, ” Daniel Wilkinson, Climate Rights International’s, Alejandro Mendez, Savas Melchor Gómez, deforest, Alfredo Ramírez, ” Ramirez Organizations: Reuters, U.S, Organic Consumers Association, Inc, Produce Inc, West Pak, DC, Rights, Climate Rights International, Richman Law, U.S . Department of Agriculture, Climate Rights, Residents, Foods, Costco, Guardian, Pak, Trade, Locations: Madero, Mexico’s, United States, Minnesota, U.S, West, Irvington, N.Y, Mexico, Washington, Michoacán, Jalisco
Carvana stock skyrockets on massive Q2 sales beat
  + stars: | 2024-07-31 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCarvana stock skyrockets on massive Q2 sales beatCNBC's Phil LeBeau, David Zervos, Jefferies chief market strategist, and Brooke May, Evans May Wealth managing partner, join 'Closing Bell Overtime' to talk Carvana earnings and today's slate of earnings.
Persons: CNBC's Phil LeBeau, David Zervos, Brooke May, Evans Organizations: Jefferies, Wealth
Military and police personnel arrest protesters during the anti-corruption protest in the Ugandan capital, Kampala, on July 23, 2024. Those protesting are angry about widespread government corruption in the country, which loses an estimated Sh. 10 trillion ($2.7 billion) in public funding to graft annually, according to Ugandan anti-corruption body the Inspectorate of Government (IG). In the preceding months, Ghana, Senegal’s fellow West African state, saw days of anti-government protests as demonstrators railed against economic hardships and unemployment. “All over Africa, we are… sitting on a keg of gunpowder,” he said in a recent interview with CNN affiliate Citizen TV.
Persons: Z –, William Ruto, Fabz, Anita Annet, Yoweri Museveni, Inibehe Effiong, , Bola Tinubu, Edward Buba, ” Mugano, Mamadou Thior, ” Thior, Thior, Macky Sall, Sall backtracked, Bassirou Diomaye Faye, Olusegun Obasanjo, There’s, … unempowered, Obasanjo Organizations: CNN, Military, Xinhua, Security, of Government, World Bank, South Africa’s Durban University of Technology, , Citizen TV Locations: Kenya, East, Kampala, Uganda, Ugandan, United States, United Kingdom, Nigeria, West, Africa, West Africa, Senegal, Ghana
The IHG Premier Credit Card and IHG Premier Business Credit Card both offer a free night annually. Introduction to the IHG Free Night CertificateOverview of the IHG Rewards ProgramIf you stay with IHG hotels, even occasionally, the IHG One Rewards Premier Credit Card and IHG One Rewards Premier Business Credit Card are worth considering. How the Free Night Certificate WorksEach year on your IHG One Rewards Premier Credit Card or IHG One Rewards Premier Business Credit Card anniversary, you'll receive a free night certificate valid at IHG hotels that cost up to 40,000 points per night. Redeeming Your IHG Free Night CertificateHow to RedeemTo book your reward night, select your free night certificate and search for available hotels as you normally would. Can I use my IHG Free Night Certificate at any IHG hotel?
Persons: you'll, De, they'll, Alma, Fido Organizations: Credit, Premier Business Credit Card, Business, Card, Business Credit, United Travel Bank, TSA, Resorts, Amsterdam De, IHG, InterContinental, Alma San Diego, Holiday Inn, Holiday, Desert Club, Miami Beach Families, Art Deco District Locations: Bali, Amsterdam, Netherlands, De Witt, Europe, Amsterdam De Witt, InterContinental Bali, Fairmont, InterContinental Bali Sanur, Diego, Palomar, San Diego's, Vegas, Las Vegas, Miami, Miami Beach
But health professionals are warning consumers not to take medical advice from the same companies trying to sell them food, supplements and other consumables. “People who are on (GLP-1 drugs) eat less calories. Daily Harvest, a meal kit service, has a GLP-1 food collection. In May it announced a new line of frozen meals called Vital Pursuit, pitching the brand to users of weight loss drugs. Some taking GLP-1 drugs have reported losing hair and muscle.
Persons: Ozempic, JP Morgan, , , Donny Kranson, GLP, Nestlé’s, Jorge Moreno, Jody Dushay, Tom Little, “ I’m, , 1nutrition.com, Atkins, Robert Atkins, Nestlé, Mark Schneider, Marie Callender’s, Slim Jim, Orville Redenbacher’s, Tom McGough, William Dietz Organizations: New, New York CNN, , Vontobel Asset Management, GNC, Nestlé, Visitors, Yale School of Medicine, Physicians, Harvard Medical School, Danone, Bloomberg, STOP, George Washington University Locations: New York, United States, Switzerland, Novo Nordisk's, Hillerod, Denmark, what’s, Conagra, GLP
CNBC Make It asked locals in their 20s and 30s living in New York and LA about how much they pay in rent — and if they think it's actually worth the money. Mia pays $3,500 per month for a 2-bedroom apartment in Manhattan that she shares with a roommate. "I pay way too much, but it is a beautiful apartment," she tells CNBC Make It. Outside of Manhattan, rent isn't much more affordable. "If I lived in [Manhattan], I'd probably be spending $4,000 to $5,000 for what I have now," Shane adds.
Persons: Zumper, Mia, It's, Shane Organizations: CNBC Locations: New York, Los Angeles, LA, NYC, Manhattan, Bronx, New York City
CNN —The mix of local residents visiting the Enfield Food Shelf in Connecticut has changed a lot in the last few years. It now seems that one unexpected expense tips people’s finances.”Between 300 and 400 households visit the Enfield Food Shelf in Connecticut each week. Khamphay Khen shops at the Enfield Food Shelf to help feed his family of six. The Enfield Food Shelf serves between 300 and 400 households a week. “Even though there are a lot of jobs available, and the unemployment rate is low, we’re seeing food insecurity increasing,” said East.
Persons: Kathleen Souvigney, Souvigney, , , Jason Jakubowski, Khamphay, he’s, Khen, Honda, it’s, Enfield, Chloe East Organizations: CNN, Enfield Food, Survey, Connecticut Foodshare, Enfield Food Shelf, Urban Institute, The Hamilton, Brookings Institution Locations: Connecticut, Enfield, America
Those include higher inflation, greater market volatility, and a lower quality of life for Americans. AdvertisementThe US is sitting on the biggest pile of public debt in its history, and economists are getting nervous about it. AdvertisementIt's critical for the US to sell its debt to investors, which range from institutions, individuals, and other countries. It won't be on housing, it'll be on interest," Zagorsky said. There's little the government can do to stop those problems from brewing, other than to stop taking on so much new debt, Zagorsky and Rubin say.
Persons: , Les Rubin, Rubin, Jay Zagorsky, Zagorsky, it'll, There's Organizations: Service, Bank of America, US Treasury, Boston University, Inflation, Social Security
Editor’s Note: Ed Manning is a media executive and prostate cancer survivor. In the blink of a news cycle, prostate cancer was again casually swept aside as among the best cancer to have. As a prostate cancer survivor, I can report from painful experience that those misguided assessments are to men’s health and longevity what ice was to the Titanic. As the American Cancer Society notes:• Prostate cancer is the second leading cause of cancer death in men. A biopsy confirmed somewhat aggressive prostate cancer, a diagnosis which stunned and terrified me.
Persons: Ed Manning, Lloyd Austin, Dr, Martin Luther King Jr’s, Dexter, Simpson, , , it’s Organizations: CNN, Houston, American Cancer Society, PSA, National Cancer Institute Locations: peeing
It always seems to start the same way. I’ll beat you up! A brush-fire confrontation between strangers in a subway loudly skyrockets toward hostility before anyone else is even sure who is yelling at whom, or why. Do something about it! A moment so familiar that other passengers hardly bother to look up from their phones or pause their conversations.
Persons: I’ll
Texas cities Houston, El Paso, and Lubbock require the lowest salaries for comfortable living. New York City has the highest salary to live comfortably, followed by many in California. AdvertisementResidents of Houston, El Paso, and Lubbock, Texas, require the lowest salaries to live comfortably, a new SmartAsset analysis found. Lubbock came in third at $75,739 a year for a single adult. Other cities in the top 10 included Milwaukee, Tulsa, and Cleveland, which all have hourly wages below $40 for a single adult.
Persons: , Houston, Francisco Organizations: New, Service, Texas — El Paso, Lubbock Locations: Texas, Houston, El Paso, Lubbock, New York City, California, Houston , El Paso, Lubbock , Texas, Payscale, Texas —, Milwaukee, Tulsa, Cleveland, Jose, Irvine, Santa Ana, Texas , Tennessee, Oklahoma
Payment apps have come under scrutiny by lawmakers and regulators as their usage skyrockets. That ease of use has 80% of Americans using mobile payment apps, according to a recent survey by NerdWallet. Transaction volume across all payment app service providers in 2022 was estimated at about $893 billion, according to the Consumer Financial Protection Bureau. Lawmakers are also calling on payment app companies to clarify their reimbursement policy if consumers get scammed and to make it easier for users to report fraud. In the meantime, experts say that consumers need to understand how these apps work, the fees that may be charged and the risks involved in storing money in a mobile payment app.
Persons: Amy Zirkle, Sen, Sherrod Brown Organizations: Consumer Financial, Finance, Democratic, Capitol, Banking Locations: Ohio
CNN —Nvidia CEO Jensen Huang’s wealth saw a major boost on Thursday as the company he cofounded in 1993 surged in value. Huang, 61, is now worth an estimated $68.1 billion, passing Charles Koch and rapidly gaining on members of the Walton family, who own Walmart, which has a roughly $471 billion market cap. Huang has been at the helm of Nvidia since its beginning, serving as co-founder, CEO, president and board member. Shares of AMD (AMD) were 11% higher on Thursday and Microsoft (MSFT) rose 2%. But the company’s soaring stock price over the past year — shares grew around 230% in 2023 — means Nvidia is now deeply important to the broader market, too.
Persons: Jensen, Huang, Charles Koch, Walton, Elon Musk, Bernard Arnault, Jeff Bezos, Chris Malachowsky, Curtis Priem, Priem, Dan Morgan, Goldman Sachs, ” CNN’s Clare Duffy, Nicole Goodkind Organizations: CNN, Nvidia, Bloomberg, Walmart, Elon, Oregon State University, Stanford University, Devices, Wall Street, AMD, Microsoft, IBM, Synovus Trust Company, Google, Cisco Locations: Malachowsky
Even as tourism to the Yucatán Peninsula skyrockets, many visitors never travel beyond the so-called Riviera Maya, the heavily developed and wildly crowded coastline between Cancún and Tulum. For travelers drawn to Mexican culture and history, Mérida — founded by the Spanish in the 1500s and constructed using the stones from Maya ruins — is an antidote to the coast’s wall-to-wall all-inclusive resorts. Beyond colonial architecture and centuries-old traditions, Mérida is a young, artsy place best experienced with a free-spirited sensibility. While not a late-night city, it is very safe and comes alive after dark, when there are a few hours of cooler evening air, music calling from seemingly every corner and a general sense that if you wander a few blocks in any direction, you’ll stumble upon something really special.
Persons: Mérida —, you’ll Locations: Cancún, Spanish
The NFL season is down to four teams with the conference championships up next. AdvertisementFour teams are still vying for a chance to play in this year's Super Bowl in Las Vegas. Despite all four starting quarterbacks helping to take their teams to the playoffs, there is a large divide among what they make, and that can be a huge advantage for NFL teams. Purdy would earn the standard $164,000 Super Bowl bonus all players would receive for winning the championship. He is in his eighth NFL season.
Persons: Brock Purdy, , Lamar Jackson, Patrick Mahomes, Jared Goff, Jackson, Spotrac, Mahomes, Goff, Purdy, Tony Avelar, Russell Wilson, Isaiah J, Downing, Purdy's, Nick Zakelj Organizations: NFL, Service, AFC, Baltimore Ravens, Kansas City Chiefs, NFC, Detroit Lions, San Francisco 49ers, AP, Super, Seattle Seahawks, USA, 49ers, Los Angeles Rams Locations: Las Vegas, San Francisco
Some of these semi-retired workers are gig drivers for companies like Uber and DoorDash. Over half of the missing gig workers were aged 60 or older, and over 40% of them described themselves as "retired." Many of these semi-retired workers are gig drivers for companies like Uber and DoorDash. Business Insider previously spoke with six gig drivers about why they're driving during their retirement and the strategies they're using to make money. As her pay-per-ride declines and the cost of maintenance skyrockets, she's been forced to find other types of gig work.
Persons: Uber, , boomers, didn't, Robert A, Peterson, John Fleming, Charles Rosenblatt, Jeff Hoenig, he'd, Jeff Hoenig Jeff Hoenig, Wesley Johnson, San Francisco Uber, Johnson, Omar Ford, Omar Ford Omar Ford Ford, he's, Germaine, she's, it's, Bill, Rich Organizations: Service, Hebrew University, Federal Reserve Bank of Boston, Survey, AARP, The University of Texas, Business, Hertz, Security, North Carolina, BI, Arizona Uber, Uber, Social Locations: Austin, Myrtle Beach , South Carolina, San Francisco, South Florida, New York City, Florida, North, Arizona
Compounding pharmacies prepare custom-made versions of commercially available treatments to meet the specific needs of a patient. Novo Nordisk first sued Brooksville Pharmaceuticals over copycat versions of Wegovy and Ozempic in July. Including the newest lawsuits, Novo Nordisk has filed 12 legal actions against compounding pharmacies, medical spas and weight loss clinics allegedly selling dupes of Wegovy and Ozempic. That puts patients "at risk of taking drug products that are less effective than expected based on their labeling," according to Novo Nordisk. Several states have also threatened to take legal action against compounding pharmacies that make or distribute unapproved variations of Novo Nordisk's weight loss treatments.
Persons: Eli Lilly, Jason Brett, Novo Organizations: Novo Nordisk, Wells Pharmacy Network, Brooksville Pharmaceuticals, Nordisk, Wells Pharmacy, Novo, U.S . Food, Drug Administration, FDA, CNBC PRO Locations: Oslo, Norway, Florida, U.S, Danish, Ozempic
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