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But perhaps Pepsi's most memorable disaster (in the US, anyway) was when it was nearly forced to buy a McDonnell Douglas AV-8B Harrier II fighter jet for one of its consumers. He never got it, but the memory of his attempt has long outlived the Pepsi Points campaign. A pile of Liquid Death cans at a festival. All you need to do is visit the giveaway site and start a text chain, buy a Liquid Death product from a physical store, and text a photo of the receipt. The company swears entrants to the jet contest will not have to take them to court to get the prize.
Persons: Kendall Jenner, McDonnell Douglas, Douglas, Jerod Harris, John Leonard, that's, it's, Joseph Okpako, Andy Pearson, Liquid, Adweek Organizations: Service, PepsiCo, Pepsi, McDonnell, Getty, Netflix, Pepsi Points, Warsaw Pact, Albatros Locations: America, Philippines, Czech, Los Angeles, Czechoslovakia, Warsaw
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementWhile growth has normalized, prices still remain elevated, with median prices of existing and new homes both near all-time highs. In fact, the Housing Affordability Index fell to its all-time low last year, but Schwab noted that it seems to be pushing back up from the bottom. AdvertisementThe bank added that mortgage rates are likely to keep drifting higher, as federal interest rates normalize at around current levels. "Yet, a stabilization in activity, price growth, and interest rate volatility will likely provide a more stable foundation for the sector."
Persons: , Charles Schwab, Schwab, That's, homebuilders, it's Organizations: Service, Business Locations: Redfin
Its peak $100 billion valuation once made it the world's third largest privately-held company, behind TikTok owner Bytedance and Elon Musk's SpaceX. Estimates have pegged Shein's IPO valuation at around $90 billion, Bloomberg reported last year. AdvertisementTo gauge what happens to some Shein items once they're returned, BI reporters in the UK put two AirTag trackers on Shein garments and sent them back. Shein is more directly involved in production and focuses on clothes, but Temu's popularity "could affect the valuation," Swartz said. In a November statement following the news of Shein's IPO, chairman Mike Gallagher urged investors and banks underwriting the move to "carefully examine Shein's regulatory and compliance programs."
Persons: , Bytedance, Sky Xu, Yangtian Xu, Chris, Shein, confidentially, David Swartz, Swartz, Lululemon, JADE GAO, Stephanie Benedetto, Queen, Benedetto, they're, Shein's, Morningstar's Swartz, Temu, Mike Gallagher Organizations: Service, Elon, SpaceX, Business, Reuters, Authentic Brands, Wall Street, CNBC, Bloomberg, Morningstar, Zurich Insurance Group, Guardian, BI, Coventry Airport, SEC, Street, Financial Times, London Stock Exchange, Chinese Communist Party, Nike, Adidas Locations: China, , Singapore, Sequoia China, London , Hong Kong, York, London, Canary Wharf, Coventry, Walsall, Northern Ireland, England, Kent, Washington, Xinjiang, Dublin, Shein
A broker sent him a listing: The founder of Novel Ice Cream, which owned two local scoop shops in Arizona, wanted to sell. The parties agreed on a $1.1 million purchase price for Novel. "They really liked the idea, and so they graciously put down the $110,000, which was 10% of the purchase price, to buy [it]." Allard bought the scoop shops — located in Phoenix and Mesa, respectively — in August 2023. "I'm living way below my means so I can invest as much as possible back into my business."
Persons: Shawn Allard, Allard, He's Organizations: Small Business Administration, CNBC Locations: Arizona, Phoenix, Mesa
Chipotle has come a long way since the burrito-maker first went public nearly 20 years ago. Although it was founded in 1993, the restaurant chain made its stock market debut in January 2006 with shares priced at $22 each. Chipotle's stock price sat at $3,072.85 as of the market close on May 29. The chain is also preparing for its first stock split, which is set to take place after the market close on June 25. "This split comes at a time when our stock is experiencing an all-time high driven by record revenues, profits, and growth."
Persons: Chipotle, Jack Hartung Organizations: Washington D.C Locations: Washington, U.S, Canada, United Kingdom, France, Germany
"With yields holding firm at elevated levels , large caps continue to outperform small caps. Hopes for multiple rate cuts from the Federal Reserve this year have dimmed after recent inflation readings showed signs of stickiness. An economy that is growing more slowly, but with cooler inflation, could be the combination small caps need. Small caps could also benefit from an uptick in the global economy that benefits areas like manufacturing that has heavy representation in the small-cap index. Investors who really want exposure to small caps could also look outside of the U.S. Wolfe Research analyst Rob Ginsberg said in a May 29 note to clients that global small caps are outperforming their U.S. counterparts and are poised for a potential breakout.
Persons: Russell, Todd Sohn, JC O'Hara, Roth MKM, Chad Miller, you've, Miller, Cayla, Seder, Mark Haefele, Solita, Angelo Kourkafas, Edward Jones, Rob Ginsberg, — CNBC's Michael Bloom Organizations: CNBC, ESG, Silicon Valley Bank, Federal Reserve, Big Tech, Companies, UBS, Institute, Supply, PMI, Investors, U.S . Wolfe Research Locations: Thrivent, Silicon
The Equinox EV is a solid addition to the electric crossover market. The Equinox EV is priced and designed to compete directly with Tesla's mass-market cars. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's another electric Chevrolet crossover on the market as the bowtie brand leans into EVs while others are pulling back. Two trims of the Equinox EV are available on dealer lots today, with a starting price of $43,295.
Persons: Organizations: Service, Metro Detroit, GM, Business
Read previewThe company behind San Francisco's $700-a-month tiny sleeping "pods" has accused city officials of worsening the city's homelessness problem as it battles a lengthy investigation. James Stallworth, CEO of Brownstone Shared Housing, told Business Insider that San Francisco Planning Department staff had an "adversarial attitude toward housing." Brownstone says it is waiting for city officials to approve a change-of-use request so it can continue operating its 4-foot-high sleeping pods in Mint Plaza. City officials told BI that Brownstone still needed to complete important safety upgrades to comply with the law. AdvertisementThe pods made headlines late last year after proving a hit with some tech workers seeking affordable accommodation in central San Francisco.
Persons: , James Stallworth, Daniel Sider, Stallworth, Sider, Christian Lewis Organizations: Service, Francisco's, San Francisco Planning Department, Business, Tech Locations: San Francisco, Francisco
Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.
Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City
Still, when you're saving for something that's decades away, such as retirement, it's easy to feel like you're not doing enough or that you're falling behind without some context. Even if you're not doing as well as you'd like, you may be doing better than most. "Automating savings ensures consistency and discipline, making it easier to stick to your retirement savings goals." It's "essentially free money that can significantly boost your retirement savings," says Basso. "Don't treat your retirement savings like Vegas and go all in on something.
Persons: you've, Ashton Lawrence, Alyson Basso, Basso, couldn't, Andrew Herzog Organizations: Fidelity, Mariner Wealth Advisors, Hayden Wealth Management, CNBC Locations: Greenville , South Carolina, Middleton , Massachusetts, Plano , Texas, Vegas
Mr. Met poses before the game between the Chicago Cubs and the New York Mets at Citi Field. To that end, the Mets will be working on development, production and distribution with Range Sports, a division of entertainment management firm Range Media Partners. Mets owner and hedge fund manager Steve Cohen is a minority investor in Range through his Point72 Ventures fund. The Mets will be focused on a variety of content, Havens said, from players talking about fashion or what they do in the offseason to storytelling around the culture of Mets fans. "That opens up a bunch of new opportunities to engage Mets fans and non-Mets fans," Havens said.
Persons: it's, Steve Cohen, John Malone's Liberty, David Bonderman, Scott Havens, Havens, Pete Alonso, Jorge Lopez, Will Funk, Greg Luckman, Bradley Cooper, Jack Harlow, Brock Purdy, LIV, WWE's, Cohen Organizations: Chicago Cubs, New York Mets, Citi Field, The New York Mets, Major League Baseball, NBA, NFL, Mets, Sports, Range Media Partners, Point72 Ventures, John, John Malone's Liberty Global, TPG, Business, Bloomberg Media, San Francisco 49ers, CW, LIV Golf, ACC football, WWE's NXT Locations: Queens , New York
U.S. consumers and businesses alike have turned cautious on spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. That's a sharp slowdown from the nearly 10% growth rate seen in May 2023, he said. Referring to consumers and businesses, Moynihan said: "Both of our customer bases that have a lot to do with how the American economy runs are saying, 'You know what? The same is true for small- and medium-sized businesses, the Bank of America CEO said. Moynihan and other bank CEOs have a birds-eye view of the economy, given their coast-to-coast coverage of households and companies.
Persons: Brian Thomas Moynihan, Brian Moynihan, Moynihan, That's, We've, They're, JPMorgan Chase Organizations: of America, U.S . Senate Banking, Housing, Urban Affairs, Wall, Capitol, Bank of America, The Fed, U.S, JPMorgan, Fed Locations: Washington , U.S, New York, McDonald's, U.S
Tesla is rehiring some of the nearly 500 Supercharger staff members Musk fired in April as a cost-saving measure amid challenging times at the EV company, Bloomberg reported earlier this month. Advertisement"Desperate times call for desperate measures," Musk told CNBC's David Faber in May 2023. At Tesla, for example, Musk told his employees that he would personally approve all new hires, according to an email obtained by Business Insider. Musk is also known to have fired employees who disagreed with his decisions. Other former Twitter employees and executives have sued Musk, accusing him of unpaid severance pay.
Persons: , Elon Musk, Tesla, Musk, CNBC's David Faber, Lex Fridman, Walter Isaacson, Musk's, Alec Levenson, " Levenson, Spencer Platt, Levenson, that's, Weeks, Kali Hays Organizations: Service, EV, Bloomberg, Twitter, Business, SpaceX, University of Southern California Marshall Center, BI, Tesla, New York Times, National Labor Relations, NLRB, Musk's SpaceX, Twitter's Locations: York
CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. I'd be surprised if most Americans know that there are not one, but two crewed space stations in orbit currently. I'd like to think the International Space Station is common knowledge, but is Tiangong? Tiangong, that second space station in orbit, is built and run by the Chinese. Ideally, NASA also gets more than one space station.
Persons: CNBC's Michael Sheetz, I'd, I've, NASA's Organizations: NASA, NASA's, Soyuz Locations: U.S, China
Roku 65-inch Pro Series 4K QLED TV Roku's flagship Pro Series TV is a great all-around 4K QLED. AdvertisementShould you buy the Roku Pro Series TV? The Roku Pro series offers good image quality in a convenient, easy to use package. Ryan Waniata/Business InsiderThe Roku Pro Series is a worthy buy for anyone who wants a great midrange QLED TV. We tested a 65-inch Roku Pro Series model, but our overall impressions also apply to the 55- and 75-inch sizes.
Persons: Roku, 120Hz, Ryan Waniata, you've, U8N, Max, Roku's, It's, Hisense's U8N, You'll Organizations: Business, TCL, Shop, Walmart Shop, Dolby, Pro, TCL's, Samsung, Google, Processing Unit, Smart, AMD FreeSync Locations: Moana
Read previewThe US has opened a new factory for Howitzer ammo near Dallas, which aims to pump out 30,000 of the 155mm shells a month as the Ukraine war chews through Western stocks. The new facility at max capacity would bump total production to 66,000 shells a month for the US. Kofman told the outlet that while the Mesquite plant would be important for long-term production, Russia would likely still be producing more ammo than the West even if the US hits its 2025 goal. The US and Europe have sent Ukraine more than 3 million 155mm artillery shells since the war began. With Washington and its allies expected to produce about 1.3 million rounds in 2024, that would be about a third of Russia's forecast capacity at triple the cost.
Persons: , John Ismay, Ismay, Michael Kofman, That's, Kofman, Doug Bush Organizations: Service, General Dynamics, The New York Times, Business, Texas, US Army, CNN, Kyiv, Carnegie Endowment, International, European Union, Sky News, Bain & Company, Washington, Press, Pentagon Locations: Dallas, Ukraine, Mesquite , Texas, The, Pennsylvania, Moscow, Kyiv . Washington, Israel, Europe, Russia, Mesquite, Kyiv
Foot Locker surged Thursday after its quarterly earnings report showed signs that CEO Mary Dillon's turnaround plan is starting to pay off. At its highs of the session Thursday, Foot Locker was up nearly 32% before giving up some of those gains. That counts for something, especially when Foot Locker's stock entered Thursday down nearly 35% since the session before the March disaster. Encouragingly, Dillon told CNBC that Foot Locker and Kids Foot Locker saw positive comp-store sales. Foot Locker Why we own it: We are in Foot Locker for the turnaround.
Persons: Locker, Mary Dillon's, Dillon, Thursday's, Foot, Mary Dillon, Jim Cramer, Encouragingly, comps, Nike, we've, Jim Cramer's, Jim, Xavi Lopez Organizations: LSEG, CNBC, Nike, Holding, JD, Dick's Sporting Goods, Shoppers, Lightrocket, Getty Locations: Oregon, It's, Spain
Read previewIsrael's ongoing war in Gaza — and President Joe Biden's continued support for it — has become a major issue in the 2024 election. After Hamas killed more than 1,200 people in its October 7 attack, Israel launched a counteroffensive aimed at eliminating the group. Here's a guide to where President Joe Biden and former President Donald Trump stand on Israel — and why some are threatening to stay home or cast protest votes in November. I mean, moving shots of bombs being dropped into buildings in Gaza… it's a very bad picture for the world." For these voters — some of whom may have even had family members killed in Gaza — they argue that the war outweighs all other considerations.
Persons: , Joe Biden's, That's, Joe Biden, Donald Trump, Israel —, Biden, he's, Nathan Howard, Israel Trump, Israel, Israel Hayom, Trump, Benjamin Netanyahu, Doug Mills, Syria —, we're, Biden's, it's, Abdullah Hammoud, Jill Stein, Cornel West Organizations: Service, Business, UN, United Nations Relief, Works Agency, GOP, Israeli, Washington Post, Muslim, Democratic, Biden, Trump, Green Party Locations: Gaza, Israel, Rafah, Tel Aviv, Jerusalem, Syria, Biden's Israel, Dearborn, Michigan
A Best Buy store stands outside of a Brooklyn mall on August 29, 2023 in New York City. Best Buy on Thursday missed Wall Street's quarterly sales expectations, but stressed higher profits and lower costs as softer demand for consumer electronics continues. Adjusting for one-time items, including restructuring charges, Best Buy reported earnings of $1.20 per share. She did not specify the number of layoffs, but said Best Buy would invest in areas that could drive growth, like artificial intelligence. Best Buy on Thursday adjusted its full-year capital expenditures forecast to an estimate of $750 million, down from as much as $800 million.
Persons: Corie Barry, Barry, Matt Bilunas Organizations: LSEG, Apple, Microsoft Locations: Brooklyn, New York City, U.S, Minneapolis
One screenshot from a Lyft driver based in Arizona showed a $2.62 ride that took 15 minutes and traveled 4.32 miles. For some drivers, these sub-$3 trips are a symbol of their broader frustrations with their pay. AdvertisementCompared to January 2023, sub-$3 trips — excluding tips — have become more common for DoorDash, Grubhub, and Uber Eats drivers and less common for Uber and Lyft drivers, per Gridwise. Otherwise, the pay would likely increase if drivers rejected these rides since drivers would be more likely to accept a higher-paying ride. AdvertisementMoises Diaz, a 41-year-old Uber and Lyft driver in California, started driving part-time in December.
Persons: , Sergio Avedian, Guy, Avedian, it's, Lyft, they're, Uber, Grubhub, Gridwise, Randy Scott, he's, Scott, There's, he'll, Moises Diaz Organizations: Service, Business, Research, Gridwise, South, BI, Uber Locations: Arizona, Cleveland , Houston, Fort Lauderdale, Orange County, Los Angeles, Florida, California, South Florida
America's young men aren't working. The effect was driven almost entirely by young men: Unemployment went up by 2.7 percentage points for young men but by only 0.1 percentage points for young women. AdvertisementEmployers might also see young men as riskier to bring on board. Fairly or unfairly, there's a stereotype that young men are more volatile, more immature, and less responsible than their female counterparts. As for why so many young men aren't working, it's a doozy.
Persons: they're, willy, it's, Matt Darling, Darling, , aren't, There's, Emily Stewart Organizations: Social Security, Niskanen, Unemployment, Lawmakers, Capitol, Business Locations: Washington, Oregon
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewJerry Seinfeld doesn't care that "Unfrosted," his directorial debut, got terrible reviews. I think it's funny that you hated it because you wanted to laugh and you didn't laugh." "Unfrosted" follows a handful of successful recent movies about the creation of popular products, including "Steve Jobs," "The Social Network," and "Tetris." Even though it failed to make waves, Netflix didn't lose as much money on "Unfrosted" as it could have.
Persons: , Jerry Seinfeld, Bob Cabana, Melissa McCarthy, Hugh Grant, James Marsden, Bari Weiss, Seinfeld, he's, Steve Jobs, Mattel, Netflix didn't, would've, Glen Powell, Tom Cruise Organizations: Service, Rotten, Business, Social Network, Netflix Locations: California
AdvertisementIn addition to his eBay store, Richard owns a vintage clothing store, The Spot, in Coral Springs, Florida. Advertisement"The customer for a Tommy Bahama shirt is totally different from a customer that wants a Nike skateboard shirt," he said. For example, if you're selling a Tommy Bahama shirt, don't just title your listing "Tommy Bahama shirt," he said. "If your title says 'Tommy Bahama Shirt Purple Monkey Dishwasher,' nobody is ever going to search that," he said. So every single time a customer searches 'Tommy Bahama Hawaiian Shirt,' I show up; 'Tommy Bahama Camp Shirt,' I show up.
Persons: , Richard, he's, Richard S, It's, Tommy Bahama, Bahama, Tommy Bahama Camp, that's, I'm, I've Organizations: Service, CVS, Circuit, Business, eBay, BI, Nike Locations: Coral Springs , Florida, South Florida
Read previewScrolling through the profiles on OkCupid, Anna Akbari was drawn to a man who seemed handsome, witty, and highly intelligent. He was a catfisher — a person who fakes their online identity to trick victims into thinking they are someone else. He'd sent her a forged driving license, power points from his supposed job, and even copies of papers he claimed to have written at MIT. "We didn't know who this person was or why they were doing it," Akbari told BI. "Emily was Ethan, and Ethan was Emily," Akbari wrote in the book.
Persons: , Anna Akbari, They'd, Akbari, — Ethan Schuman, MIT —, Schuman, Ethan, Gchat, — Schuman, he'd, Warren Talmarkes, I'd, didn't, Gina Dallago, She'd, Dallago, Anna, He'd, they'd, Emily Slutsky, who'd, Emily, Slutsky Organizations: Service, Columbia University, MIT, Business, New York University, BI, Skype, Grand, Valentine's, Facebook, Grand Central Publishing, Columbia Locations: Washington, DC, New York, Ireland, Irish, Akbari, New York City, Japan, Columbia, Cork
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Ironically, Salama sympathizes with Nvidia skeptics about the company's valuation, which he said is in "nosebleed territory." Stocks will shatter expectations — and recordsLike AI-focused companies, US stocks aren't cheap but can continue to charge higher. Other investments to consider are companies tied to AI champion Nvidia, including server builder Super Micro Computer (SMCI) and venerable computer company Dell (DELL). AdvertisementOutside AI, Salama is incredibly bullish about bitcoin (BTC) during its mammoth rally and companies tied to cryptocurrencies, including Coinbase (COIN) and Robinhood (HOOD).
Persons: , Leon Cooperman, Cooperman, that's, John Salama, Salama, Salama's, doesn't, OpenAI Organizations: Service, Nvidia, Business, Trading, Microsoft, Apple, Micro, Dell, Coinbase Locations: bitcoin
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