DIRS.INFO The most relevant business & tech news

☆ Investors Aren’t Buying Apple’s New iPhone
▼ + stars: | 2023-11-03 | by ( Dan Gallagher | ) www.wsj.com time to read: 1 min

Apple’s stock has recently been underperforming its big tech peers. Photo: Brittany Peterson/Associated PressCompared with its big tech peers inflated by artificial-intelligence hype, Apple seemed to have the lowest bar to clear in the current earnings season. At the very least, Apple’s fiscal fourth-quarter results late Thursday indicate that its newest iPhones aren’t off to a raging start. The company launched the iPhone 15 family during its usual window about a week before the quarter’s end in late September. But that compares with a 10% gain in the previous year’s fourth quarter and a 47% surge in 2021, when the iPhone 13 family launched to surprisingly strong demand.

Persons: Brittany Peterson Organizations: Associated

☆ Retailers predict a slower holiday shopping season
▼ + stars: | 2023-11-02 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Retailers are projecting slower growth this holiday shopping season as inflation, higher borrowing costs, and the resumption of student loan repayments cause many consumers to pull back. The government reported that strong consumer spending drove the economy to a robust 4.9% annual growth rate in the July-September quarter. Consumer confidence dropped for the third consecutive month despite the booming economy. The resumption of student loan repayments last month after a three-year pause could also impact consumer spending. “Student loan repayments will diminish the already dwindling savings among younger households,” Moody’s said in a report this week.

Persons: Matthew Shay, ” Dana Peterson, “ Consumers, ”, ” Moody’s, ” Shay Organizations: New, New York CNN — Retailers, National Retail Federation, “, Consumer, Conference Board, Consumers Locations: New York, splurging

☆ Premarket stocks: American inequality is rising despite higher wages
▼ + stars: | 2023-11-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

The median (or mid-point) net worth for households has also increased. And while the median net worth has increased significantly, it’s still under $200,000 — far short of the estimated amount Americans should have in retirement savings. Bud Light sales keep sinkingBud Light continues to drag on Anheuser-Busch InBev’s bottom line in the United States, reports my colleague Jordan Valinsky. In the summer, Bud Light lost its long-held top-selling American beer title to rival Modelo. In an effort to jumpstart sales, Bud Light has been rolling out marketing campaigns and partnerships it thinks will placate fans.

Persons: it’s, ”, “ Consumers, ” Dana Peterson, Bud, Bud Light, Jordan Valinsky, Dylan Mulvaney, Elisabeth Buchwald, Biden, ’ Organizations: CNN Business, Bell, New York CNN, Labor Department, Consumer Finances, Governors, Federal Reserve, Conference, Board, “, Conference Board, Wall, Dow, Nasdaq, Bud Light, Anheuser, Busch, InBev, Modelo, Beer Business, NFL, UFC Locations: New York, Black, United States

There are reasons for the central bank to be, as policymakers have said, "careful" in approving any further rate increases. "We think real rates are higher due to very strong US growth," analysts from Citi wrote ahead of this week's Fed meeting. As of the September meeting, Fed officials said they still felt one more rate hike would be necessary. But Powell has also said growth needs to slow - and if it doesn't, it means the Fed's policy rate will need to move higher. It's a good thing that the labor market's strong," Powell said at his press conference following the end of the Sept. 19-20 policy meeting.

Persons: Jerome Powell, Brendan McDermid, Powell, Nancy Vanden Houten, Dana Peterson, Consumers, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal, Economic, of New, REUTERS, Federal Reserve, Treasury, Citi, Fed, Reuters Graphics Reuters, U.S, Investors, Gross, Oxford Economics, Conference Board, Conference Board's, Thomson Locations: of New York, New York City, U.S, WASHINGTON, joblessness

☆ Caterpillar is upgraded on strong quarterly results — and a misguided sell-off
▼ + stars: | 2023-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

It's true the operating margin is expected to contract a bit from Tuesday's results. Latin America sales fell 31% due to lower sales volume that was only partially offset by higher prices. Higher prices also aided profitability, despite the dual headwinds of lower volumes and an unfavorable product mix. The adjusted operating profit margin for the fourth quarter is expected to be lower versus the third quarter result. All told, we believe the operating margin consensus on Wall Street needs an upward revision.

Persons: we've, James Umpleby, Umpleby, nonresidential, I've, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Caterpillar, Revenue, CAT, U.S, North, Energy, SG, Dealers, Guidance Management, CNBC, Peterson Locations: North America, America, Europe, Africa, Asia, China, San Leandro , California

☆ US consumer confidence fall further in October
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Bing Guan/File Photo Acquire Licensing RightsWASHINGTON, Oct 31 (Reuters) - U.S. consumer confidence declined for a third straight month in October amid persistent worries about inflation, higher borrowing costs and the political environment, a survey showed on Tuesday. The Conference Board said its consumer confidence index fell to 102.6 this month from an upwardly revised 104.3 in September. Economists polled by Reuters had forecast the index slipping to 100.0 from the previously reported 103.0. "Consumers also expressed concerns about the political situation and higher interest rates. Reporting by Lucia Mutikani; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bing Guan, Dana Peterson, Consumers, Lucia Mutikani, Chizu Organizations: REUTERS, Rights, Board, Reuters, Conference Board, Thomson Locations: SoHo, New York City, U.S

Home prices rose 0.4% in August and at an annual rate of 2.6%, as low inventories buoyed prices even while mortgages hit the 7% level. The CoreLogic Case-Shiller index for the month found 12 of the 20 cities in the index saw higher prices in August from the year-ago period. home prices continued to rise in August 2023,” said Craig J. Lazzara, managing director at S&P DJI. “The year’s increase in mortgage rates has surely suppressed housing demand, but after years of very low rates, it seems to have suppressed supply even more. Political Cartoons on the Economy View All 604 Images“The affordability challenge is being exacerbated by persistently higher mortgage rates,” said Lisa Sturtevant, chief economist for Bright MLS.

Persons: ”, Craig J, Lazzara, ” Selma Hepp, Lisa Sturtevant, Hannah Jones, That’s, Rhys Williams, It’s, Venkat Balakrishnan, –, Dana Peterson, “, ” Peterson Organizations: Bright MLS, Federal Reserve, ”, Census Bureau, “, Realtor.com, Management, Fed, Conference Board, Hamas, Financial Group Locations: Chicago, New York, Detroit, Las Vegas, “, Israel

☆ US consumer confidence dropped for third consecutive month despite the booming economy
▼ + stars: | 2023-10-31 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

For the third month in a row, the Conference Board’s Consumer Confidence Index fell — dropping to 102.6 in October from an upwardly revised 104.3 in September. The decline in consumer confidence was not evident across all age groups and household income levels. People above the age of 55 exhibited the biggest monthly decline in consumer confidence. Meanwhile, consumers with a household income between $25,000 to $35,000 saw the biggest decline in confidence about the economy over the past month. In contrast, consumers with a household income between $100,000 to $125,000 saw the biggest jump in confidence over the past month.

Persons: ” Dana Peterson, “ Consumers, ”, Bill Adams, ” Peterson, Jeffrey Roach Organizations: New, New York CNN, Conference, Board, Conference Board, “, Big Three, United Auto Workers, Comerica Bank, LPL Financial, Federal Locations: New York, Israel

WASHINGTON (AP) — American consumers are feeling increasingly less confident these days as fears of an oncoming recession remain elevated. The index measures both Americans’ assessment of current economic conditions and their outlook for the next six months. The index measuring Americans short-term outlook for income, business and job market declined again, to 75.6 in October from 76.4 in September. Though they continue to spend, inflation, geopolitical conflicts and inflation remain at the forefront of American consumers' minds. Consumers’ view of current conditions also fell this month, to 143.1 from 146.2 in September.

Persons: “, —, ”, Dana Peterson Organizations: WASHINGTON, Conference Board, Federal Reserve

☆ Spora Health's founder painted a rosy portrait of his healthcare startup. The reality is more complicated.
▼ + stars: | 2023-10-30 | by ( ) www.businessinsider.com time to read: +14 min

The way Dan Miller told it, his startup Spora Health was crushing it, providing high-quality care to "thousands" of people online. The startup had secured at least one big contract, with Apple, according to three former Spora employees and another source close to Spora. Four of them told Insider they either no longer worked with Spora or hadn't seen Spora patients in a year. Two doctors listed on Spora's website as "featured Spora providers" also told Insider that they no longer worked for the startup. Another former clinician said she only ever treated a handful of Spora patients.

Persons: Dan Miller, Miller, Spora, it's, UnitedHealthcare, Aetna didn't, paychecks, hadn't, he's, It's, —, we've, " Miller, Shelby Livingston, Rob Price, Emmalyse Brownstein, Ryan Pickrell, Gloria Dawson, Stephanie Hallett, Alcynna Lloyd, Hayley Peterson Organizations: Company, TechCrunch, Spora, US Securities and Exchange Commission, Apple, Aetna, Stanford Graduate School of Business, Human Ventures, MaC Venture, SEC Locations: Spora, Level's, slivingston@insider.com

A group of poultry producers, including the world’s largest, have asked a federal judge to dismiss his ruling that they polluted an Oklahoma watershed. Arkansas-based Tyson Foods, Minnesota-based Cargill Inc. and the others say in a motion filed Thursday that evidence in the case is now more than 13 years old. A spokesperson for Oklahoma Attorney General Gentner Drummond did not immediately return a phone call for comment Saturday. “The Court’s findings and conclusions rest upon a record compiled in 2005–2009,” the poultry companies' motion stated. Attorneys for the companies and the state attorney general each said in Thursday filings that mediation had failed.

Persons: Tyson, Judge Gregory Frizzell, Gentner Drummond, Frizzell, ” Frizzell, Cobb Organizations: Tyson Foods, Cargill Inc, U.S, Oklahoma, Tulsa, Cal, Maine Foods Inc, Tyson Poultry Inc, Tyson Chicken Inc, Vantress, Cargill, George’s Inc, George’s, Inc, Peterson Farms Inc, Simmons Foods Inc Locations: Oklahoma, Arkansas, Tyson Foods , Minnesota, Tulsa, Illinois, Cargill Turkey

☆ New Speaker Mike Johnson Gets ‘Grace Period’ as He Reboots House
▼ + stars: | 2023-10-27 | by ( Kristina Peterson | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/politics/new-speaker-mike-johnson-gets-grace-period-as-he-reboots-house-7dc752f0

Persons: Dow Jones, johnson

☆ Why Trump Is Right About Tariffs
▼ + stars: | 2023-10-27 | by ( Oren Cass | ) www.wsj.com time to read: +1 min

President Donald Trump at a Whirlpool manufacturing facility in Ohio, Aug. 2020. Photo: Scott Olson/Getty ImagesEconomists have reacted poorly to Donald Trump’s recent proposal for a 10% tariff on all imports. After all, tax revenue is necessary to provide public services, and tariffs have long proved an effective way to collect it. In 1789, the first law in the first Congress—advocated by Alexander Hamilton, introduced by James Madison and signed by George Washington on the Fourth of July—established a tariff not unlike Trump’s. For much of the nation’s history, while growing from colonial backwater to continent-spanning industrial colossus, the U.S. imposed some of the world’s highest tariffs, which were the primary means of funding the federal government.

Persons: Donald Trump, Scott Olson, Donald Trump’s, Adam Posen, Michael Strain, —, Alexander Hamilton, James Madison, George Washington Organizations: Getty, Peterson Institute for International Economics, American Enterprise Institute Locations: Ohio, U.S

☆ 'We are expecting a pause' from the Fed next week, says Conference Board's Dana Peterson
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We are expecting a pause' from the Fed next week, says Conference Board's Dana PetersonDana Peterson, Conference Board chief economist, joins 'Fast Money' to talk today's PCE data and what to expect from the FOMC meeting next week.

Persons: Board's Dana Peterson Dana Peterson Organizations: Fed, Conference Board

☆ JPMorgan on clean tech stocks: It's going to get worse before it gets better
▼ + stars: | 2023-10-27 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

There could be more pain ahead for clean technology stocks — but there may be a buying opportunity for long-term investors, according to JPMorgan. Analyst Bill Peterson said clean technology stocks have seen sentiment become even more challenged following the second-quarter earnings cycle, as investors struggle to digest sliding demand trends, inflation and project delays. Clean technology stocks have fallen about 22% since 2023 began by JPMorgan's calculations, while the technology-heavy Nasdaq Composite has climbed around 21%. "Despite several positive catalysts on the horizon, we think the Clean Tech universe will likely see sentiment worsen before it gets better," Peterson told clients on Friday. However, the average analyst polled by LSEG has a buy rating with an expected upside of nearly 320%.

Persons: Bill Peterson, Peterson, LSEG, — CNBC's Michael Bloom Organizations: JPMorgan, Nasdaq

1 seed in the NCAA Women’s Tournament will get preferential treatment moving forward, a response to South Carolina coach Dawn Staley's concerns and criticism. 1 seed between the regional final and for the Women's Final Four. 1 overall seed. 1 overall seeded team by allowing that team the most possible rest time between the regional final and the Women’s Final Four,” said Lisa Peterson, chair of the committee and senior associate commissioner for sports management with the Pac-12 Conference. "We made that decision unanimously.”The 2024 Women’s Final Four will be played April 5 and 7 in the Rocket Mortgage FieldHouse in Cleveland.

Persons: Dawn Staley's, . Staley, “ It’s, ” Staley, ”, Lisa Peterson Organizations: CLEVELAND, NCAA, Basketball, ESPN, LSU, Virginia Tech, AP, womens Locations: South Carolina, Destin , Florida, Iowa, Dallas, Cleveland

☆ New Speaker Mike Johnson’s To-Do List: A Looming Funding Deadline and Israel, Ukraine Aid
▼ + stars: | 2023-10-26 | by ( Kristina Peterson | Lindsay Wise | ) www.wsj.com time to read: 1 min

House Republicans elected Rep. Mike Johnson of Louisiana as speaker of the House on Wednesday, more than three weeks after Kevin McCarthy was ousted. Photo: Reuters/Elizabeth FrantzWASHINGTON—The House is back open for business. But getting legislation through it—much less agreeing with the Democratic Senate and President Biden—won’t be easy for brand-new Speaker of the House Mike Johnson , with major deadlines less than a month away. After 22 days of GOP infighting, the Louisiana Republican secured his post Wednesday without any opposition from his fellow House Republicans. That unity will be tested soon, with lawmakers facing a slew of policy and political challenges, including a government funding deadline in three weeks, aid requests for Israel and Ukraine and a farm bill that has already expired.

Persons: Mike Johnson of, Kevin McCarthy, Elizabeth Frantz WASHINGTON, Biden — won’t, Mike Johnson Organizations: Republicans, Reuters, Democratic Senate, Louisiana Republican Locations: Mike Johnson of Louisiana, Louisiana, Israel, Ukraine

ARLINGTON, Texas (AP) — Former President George W. Bush, the former Rangers owner, will throw out the ceremonial first pitch before Texas plays the Arizona Diamondbacks in the World Series opener on Friday night. This will be Bush's fourth World Series ceremonial first pitch but his first before an opener. Bush was U.S. president from 2001-09 and threw out the ceremonial first pitch before Game 3 of the 2001 World Series at Yankee Stadium between New York and Arizona. Bush, before Game 4 of the 2010 World Series in Texas and before Game 5 of the 2017 World Series in Houston. Former Rangers star Adrián Beltré will throw out the ceremonial first pitch before Game 2 to Rangers Hall of Famer Ferguson Jenkins.

Persons: George W, Bush, Eddie Chiles, Derek Jeter, ” Bush, George H.W, George H.W . Bush, Thomas Hicks, Ray Davis, Iván Rodríguez, Adrián, Rangers Hall of Famer Ferguson Jenkins, H.E.R, Pearl Peterson, ___ Organizations: Rangers, Texas, Arizona Diamondbacks, Yankee, Yankees, Rangers Hall of Fame, Major League Baseball, Former Rangers, Rangers Hall of, Girls Locations: ARLINGTON , Texas, Texas, U.S, New York, Arizona, George H.W ., Houston

☆ Opinion | The Reactionary Futurism of Marc Andreessen
▼ + stars: | 2023-10-26 | by ( Ezra Klein | ) www.nytimes.com time to read: +4 min

I think the Republican Party’s collapse into incoherence reflects the fact that much of the modern right is reactionary, not conservative. It’s a coalition obsessed with where we went wrong: the weakness, the political correctness, the liberalism, the trigger warnings, the smug elites. The Silicon Valley cohort Andreessen belongs to has added a bit to this formula. Rather, it’s the pairing of the reactionary’s sodden take on modern society with the futurist’s starry imagining of the bright tomorrow. So call it what it is: reactionary futurism.

Persons: Jordan Peterson, J.D, Vance, Peter Thiel, Donald Trump, Patrick Deneen, ” Mark Lilla, “, —, ”, else’s, Andreessen, Nietzsche, ” “, John Galts Locations: incoherence, It’s

Rep. Jim Jordan of Ohio was removed as GOP nominee for speaker in a secret ballot after he lost his third bid. Rep. Kevin McCarthy, the previous speaker, was ousted three weeks ago. Mike Johnson of Louisiana was chosen as House Republicans’ latest nominee for speaker in a conference vote late Tuesday, hours after the party elected and then derailed a different member in its search for the elusive candidate who can actually win the gavel. At the end of a marathon day of internal debate and votes, Johnson, the vice chairman of the House Republican conference, bested Byron Donalds of Florida, a Trump ally popular with many of the House’s most conservative lawmakers. In a shift, lawmakers left the Capitol on Tuesday night optimistic that Johnson could unite them after a series of failed attempts to find a successor to former House Speaker Kevin McCarthy (R., Calif.), who was ousted three weeks ago.

Persons: Jim Jordan of, Kevin McCarthy, Valerie Plesch, Mike Johnson of, Republicans ’, Johnson, Byron Donalds of Organizations: Bloomberg WASHINGTON —, Republicans, House Republican, Trump, Capitol Locations: Jim Jordan of Ohio, Mike Johnson of Louisiana, Byron Donalds of Florida, Calif

House Republicans elected Rep. Mike Johnson of Louisiana as speaker of the House on Wednesday, more than three weeks after Kevin McCarthy was ousted. Photo: Chip Somodevilla/Getty ImagesWASHINGTON—The House elected GOP Rep. Mike Johnson of Louisiana as speaker, elevating a staunch conservative to the top post after three weeks of Republican infighting doomed other candidates aiming to succeed ousted leader Kevin McCarthy. The choice of Johnson, a close ally of former President Donald Trump, came after the party cycled through a series of hopefuls, prompting some members to wonder whether any colleague could thread the needle in the deeply divided conference. With a speaker now in place, lawmakers can finally get back to work, with many eager to pass aid for Israel and address a looming government-funding deadline next month.

Persons: Mike Johnson of, Kevin McCarthy, Chip Somodevilla, Johnson, Donald Trump Organizations: Republicans, Getty, WASHINGTON, The Locations: Mike Johnson of Louisiana, Israel

☆ House Republicans have a multimillion dollar fundraising problem with their newest speaker
▼ + stars: | 2023-10-25 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

On Wednesday, GOP Rep. Mike Johnson became the newest speaker of the House. Now, with new Speaker Mike Johnson at the helm, the party may grapple for some time with how opposite Johnson is from his predecessor. Johnson's sudden rise to becoming speaker comes just over a year before the 2024 election where the Republican Party is aiming to regain control. Neither prediction ultimately came true: Republicans only gained a very slim majority of the House and managed to lose footing in the Senate. Less than two years later, it's now Johnson's responsibility to make sure the Republican Party remains in power.

Persons: Mike Johnson, He's, Mike McCarthy, Nancy Pelosi, Johnson, —, Kevin McCarthy, McCarthy, Pelosi, it's, Louisiana Republican's, he's, House Republicans —, Jeff Miller, Jordan Peterson Organizations: GOP, Service, Republican Party, Capitol, Democratic Rep, House GOP, Federal, Commission, House Republicans, House Republicans — Politico, Republicans Locations: Louisiana

Rep. Jim Jordan of Ohio was removed as GOP nominee for speaker in a secret ballot after he lost his third bid on Friday. Rep. Kevin McCarthy, the previous speaker, was ousted nearly three weeks ago. Photo: Valerie Plesch/BloombergWASHINGTON—House Majority Whip Tom Emmer (R., Minn.) dropped his bid to serve as House speaker just hours after he was narrowly elected as the Republican nominee, as stiff resistance from hard-right conservatives reinforced by former President Donald Trump sank the party’s latest pick to run the chamber. His withdrawal put the Republicans back to square one for the fourth time, three weeks after hard-liners engineered the ouster of former Speaker Kevin McCarthy (R., Calif.). Republicans regrouped again late Tuesday to map out their next steps, assembling another slate of candidates and holding a fresh forum in the evening.

Persons: Jim Jordan of, Kevin McCarthy, Valerie Plesch, Tom Emmer, Donald Trump Organizations: Bloomberg WASHINGTON —, Republican, Republicans Locations: Jim Jordan of Ohio, Minn, Calif

☆ Forget the Met or the Louvre—the Hardest Museum to Visit Is in the USDA
▼ + stars: | 2023-10-22 | by ( Kristina Peterson | Photographs Kent Nishimura For The Wall Street Journal | ) www.wsj.com time to read: 1 min

For roughly two years, Connelly has been on a mission to track down every interesting historical tool, book, clock, photo, pencil sharpener, cotton sample and stop-action motion picture camera still lurking in the thousands of rooms that make up the USDA. A photograph of 'Noodles' Hahn, a professional baseball pitcher at the turn of the 20th century who later became a USDA meat inspector.

Persons: Connelly, Hahn

Rep. Jim Jordan failed a second attempt at being elected speaker on Wednesday after 22 Republicans voted against him. It has been more than two weeks since the ouster of the previous speaker, Rep. Kevin McCarthy. Photo: Jim Lo Scalzo/ShutterstockWASHINGTON—Republican speaker nominee Rep. Jim Jordan was set to fall short in a third round of voting to secure the gavel Friday morning, after struggling to win support from colleagues who have opposed his candidacy, likely leaving Republicans at a fresh impasse. While the Ohio conservative has campaigned as a speaker who can unite the party, he continues to face long odds, a full week after securing the GOP nomination and more than two weeks after former Speaker Kevin McCarthy (R., Calif.) was ousted. Republicans have no current fallback plan after rejecting a proposal to vote on giving more powers to Speaker Pro Tempore Patrick McHenry (R., N.C.).

Persons: Jim Jordan, Kevin McCarthy, Jim Lo Scalzo, Pro Tempore Patrick McHenry Organizations: WASHINGTON, Republicans, GOP, Pro Tempore Locations: Ohio, Calif, N.C

Search resuls for: "Peterson"

25 mentions found