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HP forecast its first-quarter profit below Wall Street expectations on Tuesday, in a sign of persistent choppiness in demand in the personal computers market. PC makers have seen demand retreat from its peak during the pandemic, when customers stocked up on tech products. AI PCs have not boosted the overall PC demand as "buyers have yet to see their clear benefits", Gartner analyst Mikako Kitagawa said. The PC maker's adjusted profit 93 cents per share met expectations. For the fiscal 2025, the company forecast its adjusted profit to be between $3.45 and $3.75 per share, the midpoint of which is in line with analysts' estimate.
Persons: Mikako Kitagawa, LSEG, Karen Parkhill Organizations: Hewlett, Packard, HP, Gartner, IDC Locations: Palo Alto , California
Pakistan deployed its army within the nation’s capital on Tuesday with orders to shoot protesters if necessary, as deadly clashes escalated between the police and supporters of former Prime Minister Imran Khan. The government said that at least six members of the security force had been killed in the violence, as thousands of protesters marched to Islamabad to demand his release from prison. Patriotic songs blared from vehicles, and supporters of Mr. Khan danced in front of the slow-moving convoy, some chanting, “Revolution! Revolution!”Mr. Khan, an enormously popular politician and former cricket star who has been jailed since August of last year, called for the demonstration over the weekend. Pakistan’s military-backed civilian government put the capital on lockdown, blocking major highways and suspending cellular and internet services in several areas.
Persons: Imran Khan, Mr, Khan Locations: Pakistan, Islamabad
When Erika Kullberg's law firm refused to accommodate a family emergency, she knew she had to quit. Kullberg left her law firm after she was denied an extension on a work assignment despite being in the middle of a family emergency. When Kullberg left her law firm — and her salary with it — these are the steps she took to ensure she'd still be financially secure. "I had a number of months I was very, very comfortable with, and so I made sure that that was saved up." "Ever since I was at a law firm, I was really frugal," she said.
Persons: Erika Kullberg's, , Erika Kullberg, Kullberg, wasn't, doesn't Organizations: Finance, Service
New York CNN —Disney has agreed to pay $43 million to settle a lawsuit that it paid female employees less than their male counterparts in similar roles for nearly a decade. The settlement agreement, reached Monday, stems from a 2019 lawsuit filed by LaRonda Rasmussen. “I strongly commend Ms. Rasmussen and the women who brought this discrimination suit against Disney, one of the largest entertainment companies in the world. They risked their careers to raise pay disparity at Disney,” Lori Andrus, a partner at Andrus Anderson, said in a statement. The plaintiffs accused Disney of paying female employees less than their male counterparts when they started at the company because their pay was lower at previous companies.
Persons: New York CNN —, LaRonda Rasmussen, , , Rasmussen, ” Lori Andrus, Andrus Anderson, Disney Organizations: New, New York CNN, New York CNN — Disney, Disney, CNN, Wall Street Journal Locations: New York, California
Workday stock slips on light quarterly forecast
  + stars: | 2024-11-26 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
For the fiscal fourth quarter, Workday called for an adjusted operating margin of 25% on $2.03 billion in subscription revenue. Analysts polled by StreetAccount were looking for a 25.5% margin and $2.04 billion in subscription revenue. Subscription revenue totaled $1.96 billion, up around 16%, consistent with the $1.96 billion consensus among analysts surveyed by StreetAccount. In October Workday told employees that Doug Robinson, a co-president, will retireDuring the quarter, Workday acquired contract lifecycle management software startup Evisort. Workday's finance chief, Zane Rowe, called for $8.8 billion in fiscal year 2026 subscription revenue, good for 14% growth.
Persons: Carl Eschenbach, StreetAccount, Rowe, Rob Enslin, Doug Robinson, Zane Rowe Organizations: Allen & Company Sun Valley, U.S ., Google, SAP Locations: Sun Valley , Idaho, U.S
AdvertisementDonald Trump's latest tariff threats have set alarm bells ringing on Wall Street. Analysts warned of a trade war, volatility, steeper inflation, and a flight to safety in markets. Analysts said the president-elect's latest threats could presage tariffs on other countries' exports and escalate into a full-scale trade war. "There has been a view among some investors that Trump's tariff talk was a negotiating tactic, a threat rather than a promise. Advertisement"The president-elect's scorched-earth approach has stoked fears of a trade war, with investors increasingly wary that Europe could be next in his crosshairs."
Persons: Donald Trump's, Donald Trump, There's, George Saravelos, Trump, Dan Coatsworth, AJ Bell, Matt Britzman, Hargreaves Lansdown, Nigel Green, Mark Haefele, Ruben Ferreira, FlowCommunity Organizations: Analysts, Deutsche Bank, Free, deVere, UBS Global Wealth Management Locations: Mexico, Canada, China, America, Europe
Dell shares fall on light forecast despite growing AI sales
  + stars: | 2024-11-26 | by ( Kif Leswing | ) www.cnbc.com   time to read: +3 min
Dell Technologies forecast fourth-quarter revenue and earnings below Wall Street expectations on Tuesday, despite bullish commentary from the company on AI sales growth. It said it expected $2.50 in adjusted earnings per share, versus expectations of $2.65 per share. Dell's AI server sales are reported in the company's Infrastructure Solutions Group (ISG), which includes AI servers, storage, networking components, and traditional servers. The strongest part of Dell's ISG business was its Servers and Networking subsidiary, which includes AI systems. The overall ISG unit is more profitable, thanks to sales of pricier AI systems.
Persons: Michael Dell, Dell, Jensen Huang, Jeff Clarke Organizations: Dell Inc, Dell Technologies, Dell, Nvidia, Blackwell, Solutions, Networking, Intel, AMD Locations: Las Vegas , Nevada, Asia, Dell's
Here are the biggest calls on Wall Street on Tuesday: Wells Fargo upgrades Eastman Chemical to overweight from equal weight Wells Fargo says the chemical company is "attractive." HSBC downgrades Goldman Sachs & Morgan Stanley to hold from buy HSBC said the risk/reward is a less attractive. KeyBanc reiterates Nvidia as overweight The firm says it sees "limited competitive risks" for Nvidia shares. Wells Fargo reiterates Starbucks as overweight Wells raised its price target on the stock to $115 per share from $110. Redburn Atlantic Equities reiterates Amazon as buy The firm raised its price target on the stock to $235 per share from $225.
Persons: Wells Fargo, HSBC downgrades Goldman Sachs, Morgan Stanley, Baird, Bernstein, KeyBanc, it's bullish, TD Cowen, Pinterest, Cowen, Wells, Guggenheim, Michael Kors, UAL Organizations: Eastman Chemical, UBS, HSBC, Royal Caribbean, Nvidia, Bank of America, Citi, Chevron, ExxonMobil, SPX, JV, China, Guggenheim, Capri Holdings, Barclays, Apple, and Department of Justice, Google, DoJ, UBS reinstates United, Alaska Airlines, Amazon Web Services, Anheuser, Busch InBev, GAP Locations: Caribbean, China, Delta, DAL
New York CNN —Yet another fast food CEO is stepping down. Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Chidsey, the first chief executive outside of the chain’s founding family, joined Subway as CEO in 2019. The chain’s store count is also shrinking, closing 400 restaurants in the US last year and finishing 2023 with the lowest store count since 2005. Incoming interim CEO Walsh is currently the company’s president of Europe, Middle East and Africa and also served as global chief marketing officer.
Persons: John Chidsey, Carrie Walsh, Chidsey, Walsh, – CNN’s Jordan Valinsky Organizations: New, New York CNN, Subway, Starbucks Locations: New York, Wendy’s, Europe, Middle East, Africa
The weeks heading into year-end often mark a bullish time for stocks, and smaller companies especially might be poised for outperformance. With that in mind, Jeffrey Hirsch, editor-in-chief of the Stock Trader's Almanac, believes investors should buy small caps from the Tuesday before Thanksgiving this year and hold them until Jan. 3rd, 2025. The tendency for small caps to outperform large caps from mid-December through January, combined with the so-called Santa Claus rally right around Christmas, can bolster small-cap growth stocks, Hirsch said. That rally "rhymes with the post-2016 election move," according to John Hancock Investment Management co-chief investment strategist Emily Roland. He's really focused more on the food companies, eating healthier, vaccine companies and just making sure they're held to the same standards."
Persons: Jeffrey Hirsch, Jan, Hirsch, Santa Claus, Donald Trump's, Russell, What's, Emily Roland, Julie Biel, Kayne Anderson, Biel, Gregg Fisher, Matt Unger, Robert F, Kennedy Jr, Unger, they're Organizations: Stock, CNBC, Regional Banking, John Hancock Investment Management, Quent, Osterweis Opportunity, Trump, Department of Health, Human Services, RFK Locations: Santa
With former high-flying gambling stocks struggling so far in the fourth quarter, it's tempting to write off the entire group. MGM is only up about 10% since the August market low, and CZR is slightly above the S & P 500 in terms of performance. Over the same period, we can see that DraftKings Inc (DKNG) is up around 35%, doubling the return of the S & P 500. FLUT has now made a new 12-month relative high, as the strong performance in Q4 has outpaced other gambling stocks as well as the major equity benchmarks. As long as these two gambling stocks continue to demonstrate strong relative strength characteristics, we feel they represent excellent opportunities into year-end 2024.
Persons: FLUT, David Keller Organizations: Caesars Entertainment, MGM Resorts International, MGM, Nasdaq, CMT, CNBC, NBC UNIVERSAL
The apparel company issued strong holiday guidance on Tuesday after posting its sixth straight quarter of double-digit sales growth and another quarter of results that topped expectations. For the all-important holiday shopping quarter, Abercrombie is expecting sales growth of 5% to 7%, ahead of the 4.8% growth that analysts had expected, according to LSEG. That new outlook is higher than the 12.1% growth analysts had expected, according to LSEG. The Abercrombie and Hollister brands posted comparable sales growth of 11% and 21%, respectively. Horowitz noted the strong performances lapped growth of 26% for Abercrombie and 7% for Hollister last year.
Persons: Fitch isn't, Mike Jeffries, Abercrombie, Fran Horowitz, Horowitz, Hollister, it's, It's, Donald Trump's, , bullishness Organizations: Abercrombie, Fitch, LSEG, NFL, Hollister, Black, Dick's Locations: Manhattan, New York City, Americas
CNBC's Jim Cramer on Tuesday defended his stance on cryptocurrency, saying he endorses owning some as a hedge against government spending and a ballooning deficit, as "national debt worries are never going to go away." Some on Wall Street believe that due to cryptocurrency's fixed supply, it will be a solid asset in the event that continued excessive federal spending — and a widening U.S. national debt — devalues the dollar. However, he acknowledged that cryptocurrency is also fairly new and doesn't yet have a proven track record. Cramer expressed skepticism that the government will be able to solve the debt issue any time soon. "I think bitcoin, ethereum and maybe even some other cryptocurrencies deserve a spot in your portfolio, too," Cramer said.
Persons: CNBC's Jim Cramer, I've, , Cramer, cryptocurrency
"I have one ... suggestion for all parents, whether they are of modest or staggering wealth," Buffett, the CEO of Berkshire Hathaway, wrote in a letter to his company's shareholders on Monday. Aim to ensure your children understand "both the logic for your decisions and the responsibilities they will encounter upon your death," Buffett wrote. Many people don't know the details of their parents' estate plans, or even if they exist. "As soon as the parents are gone, those emotions come out of the closet like a torrent, and no, [the heirs] don't always get along," said Shenkman. Buffett and longtime friend and business partner Charlie Munger, who died last year, observed the same phenomenon, Buffett wrote: "Charlie and I saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry."
Persons: Warren Buffett, , Buffett, Berkshire Hathaway, Martin Shenkman, Charlie Munger, Charlie Organizations: Berkshire, CNBC Locations: New Jersey
John Tinniswood: World’s oldest man dies aged 112
  + stars: | 2024-11-26 | by ( Jack Guy | ) edition.cnn.com   time to read: +2 min
CNN —John Tinniswood, the world’s oldest man, has died at the age of 112. Born August 26, 1912, Tinniswood had held the record for the world’s oldest living man since April 2024, following the death of 114-year-old Juan Vicente Pérez of Venezuela. “You either live long or you live short, and you can’t do much about it,” he told GWR earlier this year. According to GWR, the oldest man ever was Jiroemon Kimura of Japan. This year has also seen the death of the world’s oldest person.
Persons: John Tinniswood, Tinniswood, , , Juan Vicente Pérez, you’ve, Susan, “ John, Jiroemon Kimura, Japan, Maria Branyas Morera, Jeanne Louise Calment . Organizations: CNN, Guinness World Records, GWR Locations: Southport , England, Venezuela
European stocks are heading for a lower open Tuesday as investors assess the global implications of U.S. President-elect Donald Trump 's plans to hike tariffs on China, Mexico and Canada. That in turn could boost the U.S. dollar against currencies such as the euro and sterling. "Immediate market reaction looks negative," analysts at Maybank said in a note Tuesday. "However, these tariffs do differ quite a bit from what Trump had mentioned during his campaign of 60% for China and a 10% broad tariff for the rest of the world. Whilst the market maybe cautious of the risk that Trump maybe incrementally introducing the tariffs, we do note the possibility that the final imposition may not be quite the same as what was proposed by him."
Persons: Donald Trump, Trump, Maybank Organizations: Dow Jones, Federal Reserve, U.S, Trump Locations: China, Mexico, Canada
CNN —The Maldives, with its sprawling white sand beaches and dazzling coral reefs, is one of the world’s most expensive holiday destinations. Now, though, this Indian Ocean archipelago nation has just increased the price it costs to leave. The departure tax is broken down per passenger based on the class of service they’re using to fly out of the Maldives. Located off the coast of India, the Maldives has a population of about 525,000 across more than 1,000 islands and atolls. Geography makes the Maldives an easy sell for high-end brands, as hotels and resorts can easily have their own private island.
Persons: MIRA, St Regis Organizations: CNN, Passengers, Maldivian Inland Revenue Authority, International, Ritz Carlton, US State Department Locations: Maldives, Delhi, London, Maldivian, MIRA, India, Malé
While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.
Persons: It’s, it’s, , Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, , ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, , they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota
At a time when most Federal Reserve officials see lower interest rates head, a key report on Wednesday is expected to show inflation drifting further away from target. The Commerce Department will release the October look at its personal consumption expenditures price index, the Fed's primary yardstick to measure the pace of price increases. "Recent data show progress on inflation has slowed," Brett Ryan, senior U.S. economist at Deutsche Bank, said in a note. "Recent wage data shows gains remain elevated and suggests core inflation is unlikely to cool near the Fed's 2% target," BlackRock experts said Monday in their weekly market note. "Markets have been pricing out Fed rate cuts — and moving closer to our view — as it becomes clearer that inflation pressures could prove persistent."
Persons: Dow Jones, What's, Donald Trump's, Brett Ryan Organizations: Federal, Commerce Department, Deutsche Bank, BlackRock
AdvertisementFormula 1 and General Motors announced that Cadillac will join the sport as its 11th team in 2026. The team, led by the US' most successful F1 driver, Mario Andretti, had been pushing to join the sport for several years. Andretti said on X that he will be involved in the Cadillac team but not in its day-to-day operations. Three races are now held in the country every year: the Miami Grand Prix, the United States Grand Prix in Austin, and the Las Vegas Grand Prix. The previous TV record in the US was 2.6 million viewers, which was set in 2022 for the inaugural Miami Grand Prix.
Persons: Andretti, Mario Andretti, Biden, Trump, Greg Maffei, Logan Sargeant, Williams Organizations: General Motors, Cadillac, Grands Prix, Miami, Andretti, GM, Business, Liberty Media, Miami Grand Prix, United States, Prix, Las Vegas Locations: Michigan, Colorado, Austin
Trump will use tariffs as a negotiating lever, says analyst
  + stars: | 2024-11-26 | 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 EmailTrump will use tariffs as a negotiating lever, says analystLuis Costa, global head of emerging markets strategy at Citi, talks about the market reaction and outlook off the back of President-elect Donald Trump's announcement of tariffs on China, Canada, and Mexico.
Persons: Luis Costa, Donald Trump's Organizations: Trump, Citi Locations: China, Canada, Mexico
Kohl's on Tuesday forecast a bigger drop in annual sales than previously expected, a sign the department-store chain is struggling to draw in shoppers as it navigates a CEO change ahead of a promotion-heavy holiday shopping season. "Our third-quarter results did not meet our expectations, as sales remained soft in our apparel and footwear businesses," Kingsbury said. The CEO's surprise departure comes as the company enters the critical holiday shopping period including Black Friday, one of the busiest times of the year for retailers and shoppers. It logged a decrease in comparable sales of 9.3% for the quarter ended Nov. 2, its eleventh consecutive quarter of decline. This is Kohl's third straight quarter with a lowered sales forecast.
Persons: Kingsbury, Kohl's, Tom Kingsbury, Ashley Buchanan, Cos Organizations: Walmart, Michaels Companies, LSEG Locations: Paxton, Harrisburg, Kohl's, Falls , Wisconsin
White House Council of Economic Advisers Chairman Kevin Hassett addresses reporters during the daily briefing at the White House in Washington, U.S. February 22, 2018. President-elect Donald Trump picked Kevin Hassett to lead the National Economic Council, a role that puts him at the center of the administration's policy-making discussions from trade to taxes and deregulation. The move brings Trump closer to rounding out his economic team, with U.S. trade representative being the last of the key positions left. During Trump's first administration, Hassett served as the chairman of the Council of Economic Advisers for two years, supporting the Republican's corporate tax cuts and defending Trump's punitive tariffs. Hassett previously served as a scholar of fiscal policy at the conservative American Enterprise Institute think tank before Trump nominated him to the White House role in 2017.
Persons: Kevin Hassett, Donald Trump, Trump, Hassett, Trump's, Jared Kushner, Scott Bessent Organizations: White, Council, Economic, National Economic Council, Trump, U.S, of Economic Advisers, American Enterprise Institute, Group Locations: Washington , U.S, Mexico, Canada
Ashley Green learned that when she was 21 years old: Her mom died suddenly, leaving her with only one picture of them together. The lesson inspired her and her husband Kenny Green to start a clothing company, Kaans Designs, while she was on maternity leave in 2014. Kaans Designs sells matching sets of shirts and apparel made for families' "perfect photo op," according to the company's website. On "Shark Tank," the Greens asked the show's panel of investor judges for $75,000, in exchange for a 15% equity stake in Kaans Designs. Their small business is profitable, they said — making $44,000 last year — and it's appeared on Oprah Winfrey's "favorite things" list twice.
Persons: Ashley Green, Kenny Green, Ashley, Kenny, sweatshirt, it's, Oprah Winfrey's Organizations: Kaans, Greens, CNBC Locations: Fort Wayne , Indiana
But I’m afraid for those I love, for those I don’t love, those I know, those I don’t know. Trump and Vice President Kamala Harris evenly split these voters nationally, with 49% each, according to exit polls. Levin sees women’s rights in retreat; lies and distortions that go largely unchallenged; meanness toward immigrants; and disdain for civility and democratic norms. I don’t know what that is unless it’s a people. It’s just, I don’t know, I don’t like the division and everything.”Murphy can agree on that point.
Persons: Pat Levin, It’s, , , Donald Trump, Democratic Sen, Bob Casey, Susan Wild, Franklin Roosevelt, Levin, ” Levin, wasn’t, Richard Nixon, Ronald Reagan, George H.W . Bush, George W, Bush, … I’m, — I’m, Trump, Kamala Harris, CNN's John King, CNN Levin, What’s, Marvin Boyer, Boyer, ” Boyer, I’m, ” Kamala Harris, Darrell Ann Murphy’s, ” Murphy, Harris, she’s, Murphy, Darrell Ann Murphy, Pamela Aita, Catherine Long, Catherine Long sparred, ” Aita, “ Long, doesn’t, “ I’m, Aita, Long, stokes, , We’ll, John Organizations: Pennsylvania CNN, Democratic, Republican, Bethlehem, CNN, White House, Elon, doer, Trump, elect’s Locations: Bethlehem, Pennsylvania, Vietnam, Harris . Pennsylvania, Northampton County, Northampton, Iowa, Easton , Pennsylvania, Easton, Palmer Township, America, It’s
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