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☆ Jim Cramer warns investors not to make generalizations about retail stocks
▼ + stars: | 2022-11-18 | 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 EmailJim Cramer warns investors not to make generalizations about retail stocksCramer explained how the 'abnormal' situation in retail is making it impossible to draw conclusions about the industry.

Genesis is owned by Stamford, Connecticut-based venture capital company Digital Currency Group. The contagion concerns stem from Genesis' prominence in crypto, its links to troubled firms and broader reach into the financial world. "It's a signal of worse outcomes" for the crypto market, particularly since Genesis also deals with brokers, family offices and money managers. Last year, Genesis extended $130.6 billion in crypto loans and traded $116.5 billion in assets, according to its website. Crypto.com, an exchange, and Tether, which operates the world's largest stablecoin, on said Wednesday they had no exposure to Genesis.

☆ Meet Prenuvo, a company that says its whole-body MRI scan can detect the earliest stages of disease. Experts say it could do more harm than good.
▼ + stars: | 2022-11-18 | by ( Sarah Braner | ) www.businessinsider.com time to read: +8 min

Prenuvo, a company offering preventive MRI scans, raised a $70 million Series A in October. Some say healthy people probably don't need whole-body scans, which can lead to risky procedures. On October 18, the company, based in Vancouver, British Columbia, said it had raised a $70 million Series A to provide whole-body MRI scans to consumers. The website says the scans are performed by MRI technologists and analyzed by radiologists trained to read Prenuvo scans. PrenuvoWhole-body MRI scans aren't accessible for everyoneSafavi said whole-body MRI scans have been available for more than two decades for people curious about what might be in their bodies undetected.

☆ Covid vaccine trials didn't monitor menstrual changes. Researchers say it's part of a bigger problem.
▼ + stars: | 2022-11-17 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Aria-Bendix-Byline-Jm.Jpg | Aria Bendix | ) www.nbcnews.com time to read: +6 min

Although they made up around half the participants in Covid vaccine trials, women were not asked about any menstrual changes as part of that process. Since then, several studies have revealed that Covid vaccines can indeed induce short-term changes in menstrual cycles. A 2021 study found that just eight out of 45 clinical trials that tested Covid vaccines and therapies separated results based on sex. In the past, menstrual changes have also been reported among those who received vaccines for typhoid, hepatitis B and influenza. Researchers don't know why post-vaccine menstrual changes occur.

CNN —A biologic therapy that delays the onset of type 1 diabetes received approval from the US Food and Drug Administration on Thursday. The most common side effects reported in the trial participants were low white blood cells and lymph cells, rash and headache. Without insulin, blood sugar can build up in the bloodstream and break down the body’s own fat and muscle. With Tzield, doctors would screen individual family members of people with type 1 diabetes to see whether they have those specific antibodies. As of 2019, about 1.9 million people have type 1 diabetes in the United States, according to the American Diabetes Association, including 244,000 children and adolescents.

☆ Singapore's Temasek writes down $275 million in FTX, calls belief in Sam Bankman-Fried 'misplaced'
▼ + stars: | 2022-11-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN Business —Singapore has become the latest backer of crypto exchange FTX to admit being burned by its spectacular collapse. FTX Group abruptly filed for bankruptcy in the United States last Friday when its founder, Sam Bankman-Fried, resigned as CEO. This “write down of our investment in FTX will not have significant impact on our overall performance,” Temasek said in the statement. Last week, investor Sequoia Capital said it had marked the value of its FTX stake down to $0. Last week, crypto lending platform BlockFi said it was pausing customer withdrawals.

☆ Texas GOP looks to restrict transgender health care and drag shows
▼ + stars: | 2022-11-16 | by ( Zachary Schermele | ) www.nbcnews.com time to read: +4 min

Texas Republicans introduced several bills this week that target the transgender community, including at least two measures seeking to criminalize gender-affirming care for minors and one bill looking to prevent children from attending drag performances. For minors, this type of care typically includes puberty blockers, which are recommended to trans youths before the onset of puberty, or hormone therapy for teenagers. The Texas bills come on the heels of a previous attempt this year by the state’s attorney general, Ken Paxton, to deem transition-related care for minors as child abuse under state law. Greg Abbott, the state’s Republican governor, subsequently called on citizens to report parents of transgender minors to the state if they suspect these minors are receiving gender-affirming care. The state’s current definition of “sexually oriented businesses” includes any venue where two or more people perform nude and alcohol is served.

☆ Tom Brady and Gisele Bundchen named in lawsuit against FTX
▼ + stars: | 2022-11-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Genesis said it was working with advisers “to explore all possible options,” adding that it would release a plan for the lending business next week. “We’re working tirelessly to identify the best solutions for the lending business, including among other things, sourcing new liquidity,” the company said. The suspension comes as the entire crypto industry is on edge following the unraveling of Sam Bankman-Fried’s FTX exchange and Alameda Research hedge fund, both of which filed for bankruptcy late last week. On Wednesday an FTX investor sued Bankman-Fried as well as several celebrities who have endorsed the platform, including Tom Brady, Gisele Bundchen and Steph Curry. “The deceptive FTX platform maintained by the FTX entities was truly a house of cards,” the proposed class-action lawsuit states.

☆ Bahamian police reportedly interviewed Sam Bankman-Fried this weekend, investigations into downfall intensify
▼ + stars: | 2022-11-13 | by ( Bethany Biron | ) www.businessinsider.com time to read: +2 min

Bahamian police questioned FTX founder Sam Bankman-Fried on Saturday, Reuters reported. The police say they are investigating if "criminal misconduct occurred" tied to the downfall of FTX. Bankman-Fried was rumored to have fled to Argentina earlier this weekend. The Royal Bahamas Police questioned Bankman-Fried to discover if any "criminal misconduct occurred," Reuters reported on Sunday. The Financial Times later reported that FTX held only $900 million in sellable assets against $9 billion in liabilities.

☆ FTX says it's removing trading and withdrawals, moving digital assets to a cold wallet after a $477 million suspected hack
▼ + stars: | 2022-11-12 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

In this photo illustration, the FTX website is seen on a computer on November 10, 2022 in Atlanta, Georgia. Elliptic found that $663 million in various tokens were drained from FTX's crypto wallets. Of that amount, $477 million was taken in the suspected theft, while the remainder is believed to have been moved into secure storage by FTX. Miller, FTX's general counsel, said the decision to push digital assets into cold storage was meant "to mitigate damage upon observing unauthorized transactions." People who choose to hold their own cryptocurrency can store it "hot," "cold," or some combination of the two.

☆ 'This dude is bullshit': Elon Musk describes the first time he met now disgraced FTX founder Sam Bankman-Fried
▼ + stars: | 2022-11-12 | by ( Bethany Biron | ) www.businessinsider.com time to read: +3 min

Elon Musk said his "bullshit meter was redlining" after meeting with Sam Bankman-Fried before the Twitter takeover to discuss an investment. Musk said he felt there was "something wrong" during the discussion. And I know my bullshit meter was redlining. Bankman-Fried stepped down as CEO, lost 94% of his net worth, and admitted he "fucked up twice" in an apology on Twitter. Musk tweeted early Saturday morning "FTX meltdown/ransack being tracked in real-time on Twitter" and also posted a crude meme of Bankman-Fried.

☆ FTX is investigating 'abnormal transactions' of customer funds after the crypto platform filed for bankruptcy: report
▼ + stars: | 2022-11-12 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Crypto exchange FTX is investigating abnormal transactions of customer funds after a potential hack. The trading platform filed for bankruptcy and CEO Sam Bankman-Fried resigned on Friday. More than $260 million worth of crypto assets were withdrawn from the platform, analysts estimate, the newspaper reported. when he was asked about the missing funds. FTX, once valued at more than $30 billion, filed for Chapter 11 bankruptcy on Friday and Bankman-Fried resigned as CEO after the company failed to secure a rescue deal.

☆ We're sticking with Apple despite questions about holiday-quarter iPhone production delays
▼ + stars: | 2022-11-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

He continued, "If sales in the quarter are back-end loaded because of production delays, the week could be a notably strong one for Apple." We're not recommending investors step in and buy Apple shares here, recognizing the macro environment is complicating the valuations for large-cap tech stocks. This is part of the reason why we lowered our price target on Apple shares last week despite its better-than-expected fiscal fourth quarter , also referred to as the September quarter. Apple shares on Wednesday are trading at roughly 22 times forward earnings, above their five-year average of 21.4, according to FactSet. In Wednesday's note, Sacconaghi suggests an undertone of demand softening could be at play with the aforementioned iPhone production cuts.

☆ Two investors opposed to debt plan call for Orpea shareholder meeting
▼ + stars: | 2022-11-09 | by ( Andreas Rinke | Christina Amann | ) www.reuters.com time to read: +2 min

Nov 9 (Reuters) - Two shareholders that together own more than 5% of France's Orpea (ORP.PA) have called for a shareholder meeting at the beleaguered care homes group as they try to rally opposition to its planned debt restructuring plan. "An unprecedented shareholder ruin is now emerging", family-owned Mat Immo Beaune and investment group Nextstone said in a letter sent to Orpea on Tuesday and reviewed by Reuters. Orpea said in June an independent audit had found evidence of financial wrongdoing, and in October warned of asset impairments and said it had requested talks with creditors. French media outlet l'Agefi on Monday reported ESG-driven fund Mirova had sold its 4% stake in Orpea. Shares in Orpea, which have lost 90% of their value this year, were down 2% at around 1100 GMT.

☆ A gay Republican who said Trump was 'at his full awesomeness' on January 6 is headed to Congress
▼ + stars: | 2022-11-09 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

George Santos is set to become the only openly gay sitting Republican member of Congress. Santos will also be only the third openly gay Republican member of Congress, following former Reps. Jim Kolbe of Arizona and Steve Gunderson of Illinois. He is the first Republican to be openly gay at the time of his election. At the same time, Republicans have shown an increasing openness to same-sex marriage. Nonetheless, most members of the House Republican Conference voted against enshrining the right to same-sex marriage into law.

☆ Shanghai bourse unit suffers temporary glitch in a market data system
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Nov 9 (Reuters) - A Shanghai Stock Exchange (SSE) unit said on Wednesday a market data system had resumed normal service following a temporary glitch that had led to abnormal data being supplied to information providers. In early trading on Wednesday, some investors complained in social media of abnormal data on various stock trading platforms, which affected their investment. The InfoNet also said that Shanghai market trading was not affected by the system switch, after checking with the SSE. However, many investors reported their trading platforms crashed or showed abnormal market data in the morning and complained about losses caused by the breakdown. This technical glitch came a day after a fat-finger incident in China's financial futures market.

☆ Stocks have gained in the year after every midterm election since World War II - and investors can expect that run to continue even as the Fed keeps hiking rates
▼ + stars: | 2022-11-08 | by ( Carla Mozée | ) www.businessinsider.com time to read: +5 min

The S&P 500 is likely to extend a historic run of positive returns after midterm elections, market strategists say. The S&P 500 in has posted positive returns in the 12 months after midterm elections since the end of World War II. The broad equity index has posted positive returns after each mid-term since 1946–after World War II ended in September 1945. He said heading into the year-end it appears that the S&P 500 has found a "very strong floor of support," at 3,500. Detrick said dovish signals from the Fed could leave the S&P 500 in 2023 with a higher post-midterm election return than the 14.1% average he had found.

☆ In Halloween crush, South Koreans see young people being failed again
▼ + stars: | 2022-11-07 | by ( Soo Youn | ) www.nbcnews.com time to read: +8 min

Then they placed white chrysanthemums on a memorial altar for the 156 mostly young victims of the Halloween crowd crush, and wrote condolences for scores of people who had departed this life decades too soon. Older generations, she said, failed them like they failed the costumed partygoers on Oct. 29. “Why couldn’t the police have gotten there sooner?”South Koreans across the country are asking the same questions. On Monday, Yoon apologized for the crowd crush, vowing to improve police and safety management systems and hold accountable anyone found responsible. The anti-Yoon protests have been going on for weeks with a heavy police presence, including the night of the Halloween crush, which has also angered critics, as has Yoon’s move out of the official presidential residence into a luxury apartment building.

☆ North Korea says missile tests were practice to attack South and U.S.
▼ + stars: | 2022-11-07 | by ( The Associated Press | ) www.nbcnews.com time to read: +5 min

SEOUL, South Korea — North Korea’s military said Monday its recent barrage of missile tests were practice to “mercilessly” strike key South Korean and U.S. targets such as air bases and operation command systems with a variety of missiles that are likely nuclear-capable. Almost all other North Korean missiles launched last week were likely short-range, many of them nuclear-capable weapons. They place key military targets in South Korea, including U.S. military bases there, within striking range. Later Monday, South Korea’s military disputed some of the North’s accounts of its missile tests. On Saturday, the final day of the air force exercises, the United States flew two B-1B supersonic bombers over South Korea in a display of strength against North Korea, the aircraft’s first such flyover since December 2017.

☆ Investors, you can bet on midterms bringing in a market rally even as the Fed keeps hiking rates.
▼ + stars: | 2022-11-07 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Let's start with a basic fact: Stocks have gained after every midterm election since World War II. But Ryan Detrick, chief market strategist at Carson Group, still thinks the stage is set for a substantial year-end market rally. How do you expect the stock market to react to the 2022 midterms? US stocks are ticking higher early Monday as election week begins. It's possible the stock market crashes 29% if a drop in corporate earnings happens at the same time as a recession.

☆ Abnormal Security: 2022 Top Startups for the Enterprise
▼ + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

Compromised business email remains one of the top cybersecurity threats with an estimated $43 billion in losses exposed since June 2016, according to the FBI. Abnormal Security, founded in 2018, uses an AI-based cloud-native email security platform that leans on behavioral data science to stop socially engineered and other unique email attacks that can evade traditional secure email gateways. The company, which closed a $210 million Series C round of financing in May led by Insight Partners and included Greylock Partners and Menlo Ventures, says it protects more than 5% of the Fortune 1000 including Xerox , Urban Outfitters , Groupon and Royal Caribbean . The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC). Learn more about CNBC Councils.

Nicole became a Category 1 hurricane on Wednesday evening as the storm made landfall on Great Bahama Island. It is expected to remain a hurricane as it approaches Florida, according to forecasters at the National Hurricane Center. By The New York TimesThe National Hurricane Center said that areas along the Florida, Georgia and South Carolina coastlines could see life-threatening storm surge. Storm surge is an abnormal rise of water caused by strong winds from a storm pushing water toward the shore. Potential storm surge flooding 1 3 6 9+ feet The New York Times; storm surge flooding prediction by NOAA as of 10:30 p.m. Eastern on Nov. 9.

☆ Analysis: For China's COVID policy, change comes in small increments
▼ + stars: | 2022-11-06 | by ( Tony Munroe | ) www.reuters.com time to read: +6 min

Authorities are making changes such as more precisely targeting lockdowns, rolling out new vaccines and adding international flights. Daily infections, though extremely low by international standards, are hitting six-month highs, while officials repeatedly reaffirm the zero-COVID policy that President Xi Jinping argues saves lives. Still, Huang does not expect fundamental change in China's COVID policy anytime soon. "COVID is not scary, it is preventable and treatable," the city's health authority told residents. China recently began rolling out what is believed to be the world's first inhalable COVID vaccine, which could help in reducing vaccine hesitancy that is especially widespread among older Chinese.

☆ No liquidity distress in U.S. bonds: NY Fed economist
▼ + stars: | 2022-11-04 | by ( Shankar Ramakrishnan | ) www.reuters.com time to read: +2 min

Nov 4 (Reuters) - Cost of new debt for companies may be at a premium but there is no liquidity distress yet in the U.S. corporate bond markets, said Nina Boyarchenko, head of microfinance studies at the Federal Reserve Bank of New York and a developer of the Corporate Bond Market Distress Index (CMDI). The index, with historical data dating back to 2005, for U.S. investment grade bonds touched a new two-year high of 0.52 on Oct. 21. That level is just 13 points away from the 0.65 level touched at the height of the COVID-19 crisis when the Fed announced a liquidity backstop for corporate credit markets. CMDI for high-yield bonds, meanwhile, stood at 0.24 versus 0.60 at the height of the COVID crisis. "From the perspective of market functioning, it is not really a sign of distress," she said.

☆ Factbox: What is China's zero-COVID policy and how does it work?
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +4 min

Here are key facts on China's zero-COVID policy. Those deemed close contacts of infected people must quarantine, and even distant or potential contact can result in an order to stay home. Arrivals of all nationalities are subject to seven days of quarantine at a facility and three days of home isolation. People must keep a "normal" COVID profile with continual negative test results, no contact with infected people and no visits to risky places. As of Tuesday, 3.44 billion doses had been administered, with over 90% of China's population fully vaccinated.

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