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Read previewThere's "little doubt," Supreme Court Justice Samuel Alito wrote, that Congress would have considered bump stocks akin to a machine gun. AdvertisementThe Supreme Court on Friday struck down the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) rule that classified bump stocks as "machine guns." He argued it had been too broad in interpreting firearms law and that Congress never explicitly meant to ban bump stocks, challenging the law on statutory grounds, not Second Amendment protections. "A bump stock does not convert a semi-automatic rifle into a machinegun any more than a shooter with a lightning-fast trigger finger does," Thomas wrote. AdvertisementBut Alito said Congress needs to be explicit that it wants to ban bump stocks, too, by amending the law or passing a new one.
Persons: , Samuel Alito, Alito, Trump, Michael Cargill, Clarence Thomas, Thomas, Sonia Sotomayor, it'll Organizations: Service, Las, Business, Alcohol, Tobacco, Firearms, Explosives, ATF Locations: Austin , Texas, Las Vegas
CNBC Daily Open: Mega money Musk, Kitty's stake grows
  + stars: | 2024-06-14 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Chipmaker Broadcom soared after it delivered better-than-expected second-quarter earnings and announced a 10-for-1 stock split. Mainland China's CSI 300 index fell 0.4%, while South Korea's Kospi rose 0.3%. Broadcom's shares soared 13% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.% after reporting earnings that beat analyst expectations and announcing a 10-for-1 stock split.
Persons: Elon, Musk, Janet Yellen, that's, Yellen, CNBC's Andrew Ross Sorkin, That's, Kitty, Keith Gill, Gill, Australia's, BofA Organizations: CNBC, Dow, Nasdaq, Broadcom, Dow Jones, Musk, Treasury, GameStop, Trade, Nikkei, Bank of Japan's, U.S, China's CSI, Chipmaker Broadcom, Bank of America Locations: U.S, Delaware, Japan, South
Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.
Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma
Geologist M. King Hubbert developed the "peak oil" theory in the 1950s. He famously projected that U.S. oil production would peak between 1965 and 1970, which seemed accurate as U.S. oil production did peak around 1970. Hubbert's prediction about the U.S. oil production peak was largely accurate for conventional oil production. Still, global oil production has not followed Hubbert's anticipated timeline due to discoveries, technological advancements, and new extraction techniques. Hydraulic fracturing (fracking) and deep-water drilling have significantly increased oil production beyond what was initially thought possible.
Persons: M, King Hubbert, Hubbert, Hubbert's, I've, Ford Organizations: Federal Electric Vehicle, ICE, GM, Ford, Trade Locations: United States, California
Read the Court’s Decision to Uphold Access to Abortion Pill
  + stars: | 2024-06-13 | by ( ) www.nytimes.com   time to read: +3 min
Held: Plaintiffs lack Article III standing to challenge FDA's actions regarding the regulation of mifepristone. (a) Article III standing is a “bedrock constitutional requirement that this Court has applied to all manner of important disputes." Causation requires the plaintiff to establish that the plaintiff's injury likely was caused or likely will be caused by the defendant's conduct. Because plaintiffs do not prescribe or use mifepristone, plaintiffs are unregulated parties who seek to challenge FDA's regulation of others. Plaintiffs advance several complicated causation theories to connect FDA's actions to the plaintiffs' alleged injuries in fact.
Persons: , Allen, Wright, Ramirez, Summers, Lujan Organizations: Fifth Circuit, FDA, Earth Island Institute, of Wildlife Locations: States, . Texas
Read previewLauren Boebert's teenage son, Tyler Boebert, has finally hired an attorney for his Colorado criminal theft case after months without any representation. Tyler Boebert had been without an attorney during his last two court appearances, first telling the judge that he was having trouble affording a lawyer. "I wish you'd turned in that application a little sooner," Neiley told Tyler Boebert at the time. But Tyler Boebert did not go with a public defender, after all. Police say Tyler Boebert was spotted in a Colorado store where a stolen credit card was used.
Persons: , Lauren Boebert's, Tyler Boebert, William Trent Palmer, John Neiley, Neiley, you'd, Palmer, Tyler Boebert's, Boebert, Lauren Boebert, Donald Trump Organizations: Service, Business, Judicial, DA, WTP, Rifle Police Department Locations: Colorado, Garfield, Carbondale , Colorado, , Colorado, Rifle , Colorado, New York City
Walmart's 4,600 US stores are supported by a network of 42 regional distribution centers. Of those 42, there's "some level of automation" at 15 of them, CFO John David Rainey said. When a DC is automated, Rainey said it sees as much as a 4X leap in efficiency. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Of those 42 DCs, Walmart CFO John David Rainey said the company has 15 that now have "some level of automation," serving about 1,700 stores.
Persons: John David Rainey, Rainey, Organizations: Service, Walmart, Business
AdvertisementPassengers with disabilities or reduced mobility are legally entitled to special assistance without an additional charge when flying from the UK, the US, and many other countries. "We have been away lots of times and always had special assistance, so this was nothing new to us," Victoria told the BBC. AdvertisementIn a statement sent to Business Insider, a Ryanair spokesperson said special assistance is "provided by Bristol Airport's special assistance provider — not Ryanair." "We sincerely apologise to these passengers for any inconvenience caused as a result of Bristol Airport's special assistance provider's error and have assured that they will be fully compensated by Bristol Airport," the statement concluded. AdvertisementA spokesperson for Bristol Airport told BI that the situation is being investigated, and the couple will be contacted to "direct their complaint to the correct business partner for resolution."
Persons: , Victoria Gore, Andrew, Victoria Organizations: Service, BBC News, Ryanair, Business, Bristol Airport, Bristol Airport's, BBC, Kaunas Airport, Department of Transportation, Bristol, BI, ABM Locations: Spain, Andrew, Barcelona, Victoria, Lithuania, England, Bristol, Kaunas, Riga, Latvia
For many college students, attending a prestigious Ivy League school is a dream come true. But many commentators and admissions experts now have a slightly wider view of schools that are on par with the Ivy League. These days, several colleges, including Stanford University, are known as "Ivy-Plus" schools. For the 2024-25 school year, tuition alone at Stanford costs $65,127. Here's how much students typically pay to go to Stanford.
Organizations: Ivy League, Stanford University, Stanford, Massachusetts Institute of Technology, The University of Chicago, Duke University, Ivy, U.S . News Locations: U.S
Tesla shareholders on Thursday voted to ratify CEO Elon Musk's mammoth 2018 pay plan, five months after a judge in Delaware ordered the company to rescind the package, finding it had been improperly granted by the board. Watch Elon Musk speak at the Tesla shareholder meeting nowThe compensation package was previously worth as much as $56 billion in Tesla stock. However, during last year's meeting, Musk promised shareholders he would spend less time on the app going forward, calling the business a "short-term distraction." Regarding the Cybertruck, which hit the market in late 2023, Musk said deliveries are picking up. Musk promised Tesla would move into "limited production" of Optimus in 2025 and test out humanoid robots in its own factories next year.
Persons: Elon, Musk, Judge Kathaleen McCormick, didn't, Tesla, He's, Pony.ai, Didi, Waymo, Optimus, Cathie Wood Organizations: ., Shareholders, SpaceX, Tesla, ARK Locations: Delaware, Austin , Texas, China, Texas
Supreme Court Justice Clarence Thomas has omitted at least three private jet trips gifted by Republican megadonor Harlan Crow from his annual financial disclosures, a top Senate Democrat alleged Thursday. Those trips included private flights in 2017, 2019 and 2021 that Thomas failed to disclose, according to Judiciary Committee Chairman Dick Durbin of Illinois. The Senate probe of the Supreme Court "makes it crystal clear that the highest court needs an enforceable code of conduct, because its members continue to choose not to meet the moment," Durbin said in a statement. Spokespeople for Thomas and the Supreme Court did not immediately respond to CNBC's requests for comment. Thomas said in his latest disclosure that those two trips were "inadvertently omitted" at the time.
Persons: Clarence Thomas, Harlan Crow, Thomas, Dick Durbin of, Crow, Durbin, Spokespeople, ProPublica, Elliot Berke Organizations: Republican, Dick Durbin of Illinois, CNBC, Washington , D.C, D.C, Senate Locations: St, Louis , Missouri, Kalispell , Montana, Dallas , Texas, Washington ,, Savannah , Georgia, San Jose , California, Bali, Indonesia, Monte Rio , California, Crow
And yes, a former president, Donald Trump, has been found guilty on felony charges. The US economy is expected to grow at double the rate of its G7 peers, according to the International Monetary Fund. Trump loved touting new Wall Street records; under Biden, the Dow hit over 40,000 for the first time. The president proposed hiking the corporate tax rate to 28%; billion-dollar companies would also face a higher corporate minimum tax. Some of the stock market and unemployment records that were set under Trump pre-COVID-19 have been surpassed by Biden.
Persons: Roe, Donald Trump, James Carville's, Biden, Joe Biden, Trump, qtN5DBOjAS — Heather Long, Jerome Powell, Powell Organizations: Service, ABC, Business, International Monetary Fund, Dow, Department of Agriculture, Auto, Federal Reserve, Union, Trump, Wall Street, NPR Locations: Russia's, Ukraine
Pamela Smart case timeline
  + stars: | 2024-06-12 | by ( Christina Zdanowicz | ) edition.cnn.com   time to read: +6 min
Pamela Smart, then 22, was a high school media director when she began an affair with 15-year-old Billy Flynn. In her trial, prosecutors said Smart then coaxed Flynn into carrying out the murder plot with two teenage friends. Here’s a timeline of Pamela Smart’s murder conspiracy plot, the resulting legal cases and convictions. March 4, 1991: Oral arguments began in Smart’s murder conspiracy trial in the Rockingham County Superior Court in Exeter, New Hampshire. William Flynn, 17, is shown the gun he used at Pamela Smart's trial on March 12, 1991.
Persons: Pamela Smart, Billy Flynn, Smart, Flynn, Gregg Smart, Pamela Smart’s, Joyce Maynard’s, Nicole Kidman, Joaquin Phoenix, Linda Wojas, CNN’s Larry King, Pamela Smart's, Patrick Randall, Vance Lattime Jr, Gregory Smart, Raymond Fowler, Gregory Smart’s, couldn’t, William Flynn, Jim Cole, Randall, WMUR, Fowler, Chris Sununu, Smart’s, Lattime, CNN’s Hayley Wilson, Gary Tuchman Organizations: CNN, Police, Associated Press, AP . Police, Court, Prosecutors, WMUR, . New, . New Hampshire Gov, AP, Sununu, Smart, Bedford Hills Correctional Facility Locations: Derry , New Hampshire, Rockingham, Exeter , New Hampshire, WMUR, ., . New Hampshire, Bedford Hills, Westchester County , New York
In its latest medium-term market report, titled Oil 2024, the global energy watchdog said oil demand growth was on track to slow down before ultimately reaching its peak of near 106 million barrels per day by 2030. That's up from just over 102 million barrels per day in 2023. At the same time, the IEA expects total oil production capacity to surge to nearly 114 million barrels per day by 2030 — a whopping 8 million barrels per day above projected global demand. The burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis. The share of fossil fuels in the global energy supply has stayed at around 80% for decades, according to the IEA, although it expects this to fall to around 73% by 2030.
Persons: Fatih Birol, Birol Organizations: The International Energy Agency, Big Oil, IEA Locations: Monahans , Texas, U.S, OPEC
Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating following the company's Worldwide Developers Conference. Baird reiterates Tesla as outperform Baird said it's sticking with its outperform rating heading into Thursday's shareholder meeting. "We are initiating coverage of Bitdeer Technologies Group (BTDR) with an Overweight rating and $13 PT." We argue the former, initiating coverage with an Outperform rating and $50 TP." Barclays reiterates PepsiCo as overweight Barclays said it's sticking with its overweight rating on the stock despite a bumpy macro in the salty snacks category.
Persons: Morgan Stanley, Apple, WWDC, Oppenheimer, Ford, Baird, Tesla, Evercore, Cantor Fitzgerald, Cantor, Piper Sandler, Piper, it's, it's bullish, Bernstein, BTIG, D.A, Davidson, Citi, Uber Organizations: Nets, Apple, JPMorgan downgrades, JPMorgan, Nvidia, Bitdeer, Bitdeer Technologies, Citi, Broadcom, VMware, Barclays, DA, PepsiCo Locations: JPMorgan downgrades Cleveland, Cleveland, Delaware, China
Ramsay's 10-minute pasta tasted delicious, and I couldn't believe it had only taken 10 minutes. I would definitely make Ramsay's 10-minute scampi again. Anneta Konstantinides/Business InsiderThere was a lovely lightness to Ramsay's 10-minute scampi that I always look for in a great summer dish. It tasted like an elevated version of Martha Stewart's famous one-pot pasta dish. I'll definitely whip up Ramsay's 10-minute scampi again when I need something quick but delicious on a busy summer weeknight.
Persons: Anneta, Martha Stewart's
JPMorgan upgraded Walmart to 'Overweight' from 'Neutral' and raised its price target to $81. "The stock adds a strong balance of defense and offense on both the top and bottom lines in a soft consumer backdrop," JPMorgan said. AdvertisementWalmart stock is trading at record highs, but JPMorgan thinks it's still a great buy for investors. According to the bank, Walmart can play both offense and defense when it comes to growing its business during uncertain times. AdvertisementBut perhaps most important to Walmart is its growing profits from "alternative profit pools," which include its third-party fulfillment business, Walmart+ subscription, and growing advertising business.
Persons: , it's, Christopher Horvers, Horvers, Horver Organizations: JPMorgan, Walmart, Service, Wall
JPMorgan upgrades Walmart
  + stars: | 2024-06-10 | 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 EmailJPMorgan upgrades WalmartCNBC's Melissa Repko and Christopher Horvers, JP Morgan Analyst, join 'Power Lunch' to discuss Walmart's big bet on groceries and the analyst call to upgrade the stock.
Persons: Melissa Repko, Christopher Horvers, Morgan Organizations: JPMorgan, Walmart
The second half of this year is the perfect time for Walmart, according to JPMorgan. The firm upgraded Walmart to overweight from neutral and raised its price target to $81, which represents a 23% gain from Friday's close. Walmart also said it would hit the high-end of its full-year guidance as it won over more higher-income shoppers. JPMorgan said that, along with liking Walmart's individual merits, there was also a macroeconomic reason behind the call. JPMorgan said it was maintaining its 2024 EPS forecast of $2.57, which is above the $2.43 Wall Street consensus and raising its 2025 EPS estimate to $2.86.
Persons: Christopher Horvers Organizations: Walmart, JPMorgan Locations: Friday's
In late 2022, Valcourt left the U.S. to move to France and go to pastry school. Valerie Valcourt moved to France in late 2022 to go to pastry school, which was a childhood dream. After some online research, she applied to a pastry school in Paris, got accepted and quit her job. Valerie Valcourt's pastry school program included three months of intensive culinary and language classes, followed by a four-month internship at a Michelin-level restaurant. Most of Valerie Valcourt's meals come from her restaurant job, but she spends roughly 20 euros ($21.43) per week.
Persons: Valerie Valcourt, Valcourt, She's, Chabran, Luis Carballo, Valerie Valcourt's, she's, It's Organizations: CNBC, Google, Michelin, France, Transportation, Apple, Spotify, Spotify Insurance, Peugeot Locations: U.S, France, Tournon, Seattle, Paris, Connecticut, Europe
Read previewStudent-loan borrowers enrolled in President Joe Biden's new repayment plan may have just gotten some relief from legal challenges. Crabtree wrote that the three states' standing is "weaker than the one that prevailed" at the Supreme Court. Crabtree explained how this case is different from Biden v. Nebraska, the case brought before the Supreme Court. In the case to block SAVE, the states are not arguing they would lose money from servicing loans. It's also in the process of implementing a broader student-loan forgiveness plan to replace the one the Supreme Court struck down, which is also likely to result in lawsuits.
Persons: , Joe Biden's, Daniel Crabtree, they'd, Crabtree, They're, Cato, It's Organizations: Service, Business, Kansas, Supreme, Public, Biden, . Nebraska, New Civil Liberties Alliance, Mackinac Center for Public, Sixth Circuit, Education Department Locations: Kansas, — South Carolina , Texas, Alaska, .
3 big trends are working in Walmart's favor
  + stars: | 2024-06-10 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +1 min
Walmart is enjoying the results of a flywheel effect between three major trends. As inflation attracts more customers to the retailer, its relative costs come down. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In a call with investors on Friday, executives at the retail giant revealed how the business is benefiting from a flywheel effect between three major trends. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Walmart, Service, Business
Insider Today: Asia's superpower clash
  + stars: | 2024-06-09 | by ( Matt Turner | ) www.businessinsider.com   time to read: +5 min
The latest to get in on the act: Tesla, which is selling a $450 bottle of mezcal on its website. The election result was a blow to Modi, who has governed India for a decade with an increasingly firm grip. India watchers expect the country's new government to move slower on some issues following the surprise election result. NvidiaGoing up against Nvidia is generally considered a pretty bad idea for startups in Silicon Valley. But Silicon Valley often thrives when true technologists keep hacking away at something they believe in, even if everyone else thinks it's dumb.
Persons: , Narendra Modi, SAJJAD HUSSAIN, Modi, He'll, Jamie Dimon, Dominic Bugatto, Alyssa Powell, hawking, Goldman Sachs, Goldman, HWA CHENG, Chelsea Jia Organizations: Service, Business, Bharatiya Janata Party's, Bharatiya Janata Party, titans, UN Security Council, Southern, Southern District of, Goldman, BI, HWA, Getty Images, Nvidia Locations: India, New Delhi, China, Southern District, Southern District of Texas, Salt Lake City, Nashville, Atlanta, AFP, Silicon Valley
Former U.S. President Trump found guilty on 34 felony counts of falsifying business records during his trial at Manhattan Criminal Court May 30th 2024 in New York City. Trump, the presumptive Republican presidential nominee, was convicted last month on all 34 felony counts of falsifying business records in the historic case. The probation interview is required by the court as part of the former president's pre-sentencing report. Judge Juan Merchan, who is presiding over the hush money case, permitted Blanche to be present for the probation interview over a video call after prosecutors did not object. Some legal experts noted that holding a probation interview over a video conference call is unusual but having the former president in a New York probation would also be unprecedented.
Persons: Trump, Todd Blanche, Judge Juan Merchan, Blanche, Martin Horn, Horn, Duncan Levin, Trump's, Levin, Michael Cohen Organizations: U.S, Manhattan Criminal, Former, New, Mar, NBC News, Trump, Republican National Convention, New York City Department of Corrections, NBC, Secret Service Locations: New York City, New York, Manhattan
Where to watch India vs. Pakistan in the USThe India vs. Pakistan match will stream through Willow TV in the US on Sunday at 10:30 a.m. View at FuboWhere to watch India vs. Pakistan in the UKThe India vs. Pakistan match will stream through Sky Sports in the UK. Where to watch India vs. Pakistan in AustraliaThe India vs. Pakistan game will stream through Prime Video in Australia. Where to watch India vs. Pakistan in IndiaThe India vs. Pakistan game, and the rest of the ICC Men's T20 World Cup, will stream for free through Disney+ Hotstar in India. How to watch India vs. Pakistan from anywhereIf you'll be traveling away from home during the India vs. Pakistan game and still want to watch it live, you can keep up with any of your subscriptions via a VPN (virtual private network).
Persons: we've, Sling's Desi, Fubo, VPNs, ExpressVPN Organizations: Business, ICC, Pakistan, Cricket, Ireland, TV, Sky Sports, Disney Locations: India, Pakistan, United States, Australia
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