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The Wall Street investment bank analyzed the holdings of 707 hedge funds with $2.7 trillion of gross equity positions at the start of the second quarter. Goldman found that hedge funds added to under-the-radar winners across the entire AI universe, particularly players in infrastructure, including Marvell Technology , TD Synnex , AES Corporation and Littelfuse . Copper miner Freeport-McMoRan and solar tracking company Nextracker, both involved in AI's power production, also saw increased popularity among hedge funds. Hedge funds also trimmed positions in other megacap stocks benefiting from the AI enthusiasm, including Microsoft , Meta Platforms and Amazon . Apple was the exception in the so-called " Magnificent Seven " group — hedge funds added exposure to the Tim Cook-led iPhone maker, according to Goldman.
Persons: Goldman Sachs, Goldman, Ben Snider, Tim Cook Organizations: Marvell Technology, AES Corporation, Littelfuse, Walgreens Boots Alliance, American, Nvidia, Microsoft, Meta, Apple Locations: Freeport, McMoRan
An exterior view of the International Criminal Court in The Hague, Netherlands, on December 6, 2022. Peter Dejong/AP/FileUS President Joe Biden slammed the International Criminal Court's efforts to seek arrest warrants on charges of war crimes for Israeli Prime Minister Benjamin Netanyahu, his defense minister and three Hamas leaders. “It's clear Israel wants to do all it can to ensure civilian protection. Let me be clear, what’s happening is not genocide,” Biden said. France broke from its Western allies — including the US, UK and Italy — to express support for the ICC.
Persons: Peter Dejong, Joe Biden, Benjamin Netanyahu, , ” Biden, Karim Khan, Italy — Organizations: Criminal, US, Republican, ICC Locations: The Hague, Netherlands, Israel, France, Italy
"He called me and I said, 'Well, I guess we're gonna be in Mexico,'" Szekely says. My husband was due to go to England, and when we married, we were going to England," Szekely tells CNBC Make It. Deborah Szekely is 102 years old and works three days a week at the fitness resort and spa that she co-founded with her then-husband in 1940. Now, Rancho La Puerta is led by the Szekely's daughter, Sarah Livia Brightwood, who is the resort's president, but Deborah is still heavily involved in the resort's operations. I meet with the presenters [every] Tuesday, so I know what my guests are talking about," Szekely tells CNBC Make It.
Persons: Szekely, Edmond's, Deborah Szekely, Deborah, Sarah Livia Brightwood, Centenarians Organizations: CNBC, Rancho, Puerta, Rancho La Puerta Locations: Mexico, Edmond, England, Szekely's, North America, San Diego
In the TSA PreCheck line, pre-screened travelers can go through security quickly without taking off their shoes or removing electronics or liquids from their carry-on bags. In November 2023, the TSA reported that more than 17 million Americans have TSA PreCheck. Ott said this can cause the line to move slower, but he shared his best tips for TSA PreCheck travelers. I have it in my backpack, knowing I'll put it on as soon as I get through PreCheck," Ott told BI. Be ready before it's your turnWhen you first get in line, Ott recommends having your boarding pass and identification out before it's your turn to show them.
Persons: , Chase, John Raoux Gilbert Ott, Ott, ROBYN BECK, we'd Organizations: Service, TSA, Business, Venture, Capital, Chase Sapphire Reserve, Delta, American Express, AP, Getty
Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.
Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP
The ICC does not have a 'real case,' analyst says
  + stars: | 2024-05-21 | 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 EmailThe ICC does not have a 'real case,' analyst saysBanafsheh Keynoush, non-resident scholar at the Middle East Institute, discusses the International Criminal Court's request for arrest warrants for Israeli Prime Minister Benjamin Netanyahu, among others, and says it's a "symbolic gesture" from the court.
Persons: Banafsheh Keynoush, Benjamin Netanyahu Organizations: ICC, Middle East Institute
American households struggled to cover some day-to-day expenses in 2023, including rent, and many remained glum about inflation even as price increases slowed. That’s one of several takeaways from a new Federal Reserve report on the financial well-being of American households. The report suggested that American households remained in similar financial shape to 2022 — but its details also provided a split screen view of the U.S. economy. But that optimistic share is down from 78 percent in 2021, when households had just benefited from repeated pandemic stimulus checks. And signs of financial stress tied to higher prices lingered, and in some cases intensified, just under the report's surface.
Organizations: Federal Locations: U.S
The ICC's decision to charge Israel and Hamas leaders was made with help from Amal Clooney. Clooney joined of team of experts analyzing evidence of suspected crimes against humanity. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHuman rights attorney Amal Clooney was part of the team that convinced the International Criminal Court to charge both Israeli and Hamas leaders with war crimes.
Persons: Israel, Amal Clooney, Clooney, Netanyahu, Biden, , George Clooney Organizations: Service, Court, Clooney Foundation for Justice, Business Locations: Israel, Gaza
President Joe Biden and Democrats have tried unsuccessfully to restore nationwide abortion rights since the Supreme Court issued its landmark reversal of Roe in 2022. AdvertisementHogan's position makes him one of the few prominent Republicans to support abortion rights. When he first announced his Senate run, Hogan initially said he needed to think more about his position on abortion rights. Democrats have already placed abortion rights on the Florida ballot this November. No Republican Senate is going to make a serious effort to codify Roe, given the party's near-universal support to restrict abortion rights.
Persons: , Larry Hogan, Roe, Hogan, Wade, he's, Joe Biden, Angela Alsbrooks, Alsobrooks, David Trone, Susan Collins of, Lisa Murkowski, codifying Roe, Donald Trump, Mitch McConnell, Court's Dodds, hasn't, it's, Trump Organizations: Service, Maryland Gov, GOP, Democrats, Business, Prince, Wine, Republicans, Press, Senate, Biden, Republican Senate Locations: Prince George's County, Susan Collins of Maine, Alaska, Maryland, Florida, Arizona
The first two new stores in Walmart's 150-location plan have opened in Florida and Georgia. The Neighborhood Markets are almost 50 percent larger than Walmart's typical grocery-focused store. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe first two locations in Walmart's five-year, 150-store expansion plan have opened in Florida and Georgia. The pair of grocery-focused stores are the first new openings in Walmart's Neighborhood Market segment in more than four years.
Persons: Organizations: Service, Business Locations: Florida, Georgia
Goldman's top technology analyst is laying out his best internet picks as the first-quarter earnings season wraps up. He added that Alphabet should benefit from signs of strong advertising demand as it recovers from overblown concerns regarding long-term search. Sheridan also expects Meta Platforms to benefit from similar ad trends and its AI potential. Beyond the megacap names, Sheridan highlighted Expedia as a stock that should benefit from the normalization of online travel toward pre-Covid levels. EXPE YTD mountain Shares this year Instacart is another internet stock poised to benefit in this changing consumer landscape, including consolidation toward fewer online services and platforms, according to Sheridan.
Persons: Eric Sheridan, Sheridan Organizations: Amazon, Web Service, Sheridan, CART, UBER
Impact of Biden's tariff hike: What you need to know
  + stars: | 2024-05-20 | 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 EmailImpact of Biden's tariff hike: What you need to knowMick Mulvaney, former White House chief of staff, and Heidi Heitkamp, former U.S. Senator, join 'Squawk Box' to discuss whether new U.S. tariffs on China are here to stay, if tariffs work, and each expert's thoughts on the polls.
Persons: Mick Mulvaney, Heidi Heitkamp Organizations: White House Locations: U.S, China
The witness, attorney Robert Costello, was called by the defense to attack the credibility of key prosecution witness Michael Cohen. Within minutes of taking the stand, Costello was in open conflict with New York Supreme Court Justice Juan Merchan, the judge presiding over the case. "If you don't like my ruling you don't say 'Jeez," you don't give me side eye, and you don't roll your eyes," the judge scolded. "You don't say 'strike it,'" the judge told the witness, adding that it's his job, not the witness' to strike testimony. Bove could not instigate a "trial within a trial," the judge ordered, by asking Costello questions beyond this limited topic.
Persons: , Donald Trump's, Robert Costello, Michael Cohen, chafed, Costello, Juan Merchan, Merchan, Costello glared, Trump, Robert Balin, Emil Bove, Cohen —, Rudy Giuliani, Cohen, Cohen's, Bove, Costello audibly, Stormy Daniels, Blanche, Daniel Citco Organizations: Service, Business, New York, Trump, Manhattan District, Republican Locations: Nassau County, New
Walmart's chief people officer, Donna Morris, commented similarly in a memo announcing the layoffs and relocations earlier that week. She wrote that working in an office would help workers collaborate, innovate, and "move even faster." Still, some employees continued working remotely, and several satellite offices remained open in cities like Atlanta, Dallas, Toronto, and Seattle. He also said he doesn't think the company is using this RTO mandate as a cover for achieving cost savings through workforce reductions, commonly referred to as "quiet firing," but that it's more part of Walmart's ethos. For the remote worker BI spoke with, the next few weeks will be filled with uncertainty.
Persons: , it's, Sam Walton, Nelson Lichtenstein, Doug McMillon, Donna Morris, Morris, Suresh Kumar, Walmart's, Kumar, Kelli Oakes, she'd, I'm, Oakes, Lichtenstein, there's, Gartner Organizations: Service, Walmart, Business, University of California, Executives, BI, Home, LinkedIn, Walmart Global Tech, Sam's Club, UC Locations: Arkansas, Bentonville , Arkansas, New York, San Francisco, Santa Barbara, Bentonville, Atlanta, Dallas, Toronto, Seattle, Bay, Hoboken , New Jersey, South Carolina, Northwest Arkansas
United States Supreme Court Associate Justice Samuel Alito poses for an official portrait at the East Conference Room of the Supreme Court building on October 7, 2022 in Washington, DC. Supreme Court Justice Samuel Alito sold shares of beer giant Anheuser-Busch InBev as conservatives were ditching the Bud Light brewer over its partnership with a transgender social media influencer . The Supreme Court did not immediately respond to CNBC's request for comment on Alito's transaction report or the timing of his stock activity. In May 2023, Modelo replaced Bud Light as the top-selling beer in the U.S. Data from around that time showed sales of Bud Light had dropped nearly 25% year over year. Roth noted that the beer companies in question have no pending business before the Supreme Court that he can think of.
Persons: Samuel Alito, Alito, Bud Light, Busch, influencer Dylan Mulvaney, Mulvaney, , Martha, Ann Alito, Gabe Roth, " Roth, Roth Organizations: East, Anheuser, Busch, Molson Coors, Supreme, Busch InBev, Bud, Modelo, InBev, Coors, Blacks, New York Times, Trump, U.S . Capitol, Times, CNBC, Bud Light Locations: Washington , DC, U.S
"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.
Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City
"We as students, faculty and alums who are standing on the right side of history do not stand with Biden," said another Morehouse student, sophomore Anwar Karim. Most recently, Morehouse faculty were split over the decision to award Biden an honorary doctorate degree at the ceremony. Divisions on campus led to at least three meetings between Morehouse President David Thomas and students and faculty. That sentiment was shared by other Morehouse students critical of Biden's visit. But still, Biden's Morehouse visit will come amid a concerted effort by his administration and campaign this week to sharpen his message to Black voters.
Persons: Joe Biden, Karine Jean, Pierre, Biden, He's, Jean, Pierre said, Court's Brown, Morehouse, Stephane Dunn, Calvin Bell, alums, Anwar Karim, he's, David Thomas, Thomas, Karim, Steve Benjamin, Benjamin, Trump, Malik Poole, Biden's Morehouse, Brown, Kamala Harris, Dunn Organizations: U.S, White, Morehouse College, NBC News, Education, Morehouse, Israel, CNN, House, Office, Public, Black, Alpha Kappa Alpha, Saturday, NAACP, Fund, Biden Locations: Israel, Washington , U.S, Gaza, Georgia, Detroit
Read previewA small taco stand in Mexico City has been awarded a much coveted Michelin star as part of the guide's first Mexican edition. GUSTAVO GRAF/ ReutersIn an online statement, the Michelin Guide celebrated its first Mexican edition: "What a joy it is to honor the uniqueness of the Mexican gastronomic landscape in Mexico City." Tire-manufacturing brothers André and Édouard Michelin released the first Michelin Guide in 1900 in an attempt to encourage motorists to try out restaurants around France. Another surprise Michelin award came in April when Disney World's Victoria & Albert's restaurant — which it calls its "culinary crown jewel" — earned a coveted star. In its review of the restaurant, the Michelin Guide said: "This restaurant is by no means an easy reservation, but the reward is a kind of magic rarely seen these days."
Persons: , León, Rodolfo Gaona, El, GUSTAVO GRAF, Arturo Rivera Martínez, — Rivera Martínez, Hawker Chan, Chan, Mario Hernandez Alonso, Édouard Michelin Organizations: Service, Michelin, Business, Reuters, Associated Press, Chinatown Food, Media, Tire, Disney World's Locations: Mexico City, Mexican, San Rafael, Mexico, Chinatown, Malaysian, France
Read previewIt will be a jury of 12 ordinary New Yorkers that will decide the fate of former President Donald Trump in his ongoing Manhattan hush-money trial. Using that document, we asked various AI chatbots whether they found Trump guilty. They were told to "choose now whether you would find him guilty or not guilty." AdvertisementBut OpenAI's ChatGPT and Perplexity weighed in — and both said they'd find Trump guilty. "I would vote guilty on the charges of falsifying business records," Perplexity responded definitively.
Persons: , Donald Trump, Trump, Michael Cohen, Stormy Daniels, Perplexity, they'd, ChatGPT, Trump's, Cohen, David Pecker, Juan Merchan, chatbots Organizations: Service, Business, Prosecutors, New York, Trump, National Enquirer Locations: Manhattan, , Trump
Justice Alito and his wife had an upside-down American flag flying on their lawn in January 2021. Inverted flags were a symbol of the pro-Trump "Stop the Steal" movement. Justice Alito told The New York Times his wife put it there and blamed a dispute with neighbors. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSupreme Court Justice Samuel Alito had an explanation for the pro-Trump symbol hanging outside his Virginia home in the weeks following the Capitol Riot: his wife put it there.
Persons: Alito, Justice Alito, , Samuel Alito, Joe Biden didn't Organizations: Trump, New York Times, Service, Capitol Riot, Times, Business Locations: Virginia
A top Wall Street analyst's stellar endorsement of TJX Companies makes us want to buy more shares of the discount retailer. Matt Boss of JPMorgan — Jim Cramer's favorite retail analyst — said Friday that several off-price retailers, including Ross Stores , Burlington Stores , and Club holding TJX, were buys. One possible catalyst for TJX stock is the company's quarterly earnings report this coming Wednesday before the opening bell. Part of the reason is also the growing appeal in off-price retailers and discounters as consumers in higher and higher income brackets seek value. "I continue to think that Costco is the stock to buy off of Walmart," Jim said Thursday.
Persons: Matt Boss, JPMorgan, Jim Cramer's, , Boss, HomeGoods —, Jim, TJX, Walmart's, Jim Cramer, Jeff Greenberg Organizations: TJX Companies, Ross Stores, Burlington Stores, JPMorgan, Walmart, Costco, TJX, CNBC, Universal, Getty Locations: Maxx, Port St Lucie , Florida
As we think about the multiple premium afforded to online retailers such as Amazon, Walmart's global eCommerce sales rose 21%. Walmart shares, at 26 times earnings, are value-priced relative to Costco's 46 times earnings. Amazon trade Amazon (AMZN) is growing topline considerably faster. Amazon revenues overtook Costco in 2016, and 2025 could be the first year that Amazon revenues exceed Walmart's. If growth is what you're after buy Amazon.
Persons: eCommerce Organizations: Walmart, Costco, Sam's
Almost 80% of current freight orders received for peak season are for mid-range price items, the survey shows. Similar to last year, respondents expect less consumer appetite for luxury and aspirational luxury items imported. The world's second-largest ocean freight company, Maersk, recently told CNBC it expected a "normal" peak season. "There's nothing that indicates that it would be a slower peak season or a bigger peak season," said Charles Van der Steene, president of Maersk North America, in a recent interview with CNBC. "We believe in normalized peak season.
Persons: Eric Thayer, Robinson, Kuehne, Nagel, Noah Hoffman, Hoffman, hypersensitive, Charles Van der Steene, We've, John David Rainey, Rainey, Larry, Jon Gold, Nate Herman, Biden Organizations: US, Bureau, Bloomberg, Getty, CNBC, Chain Survey, National Retail Federation, American Apparel and Footwear Association, United National Consumer Suppliers, ITS Logistics, DHL, Uber Technologies, C.H, Maersk, Walmart, Uber, International Longshoremen's Association, ILA, United States Maritime Alliance, Brands Locations: of Los Angeles, Los Angeles , California, U.S, Panama, Maersk North America, East Coast, Gulf, East, North America, West, Coast
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRep. Lauren Boebert made headlines with her show of support at former President Donald Trump's hush-money trial on Thursday, but has been conspicuously absent for her own son's court appearances, according to multiple reports. During the April hearing, Boebert was in Congress voting against the passage of the Sea Turtle Rescue Assistance and Rehabilitation Act, records show. Records show that the day before the May hearing, Boebert spoke in a House debate. Showing up to support Trump in court has become something of a pilgrimage for many GOP figures in recent weeks.
Persons: , Lauren Boebert, Donald Trump's, President Trump, Boebert, Stormy Daniels, Boebert's, Tyler, Tyler Boebert, He's, didn't Organizations: Service, Colorado congresswoman, Freedom Caucus, Business, Trump, Rescue Assistance, Rehabilitation, Daily Mail, Daily, The New York Times Locations: Manhattan, Denver, Colorado
But while the former president has been uncharacteristically restrained recently, a cast of Republican lawmakers and Trump surrogates have traveled to court to rail about the proceedings. It's raised questions about whether the "surrogates" could be violating Trump's gag order. Sen. Tommy Tuberville of Alabama, who has been floated as a potential VP pick, told Newsmax one reason he attended was to "overcome this gag order." Under the gag order, Trump is not allowed to comment about Cohen. But Neama Rahmani, a former federal prosecutor, told BI that "practically speaking," Judge Merchan can do little to stop lawmakers from speaking on Trump's behalf.
Persons: , Donald Trump, Michael Cohen, It's, Mike Johnson, JD Vance, Ohio, Rick Scott of, Vivek Ramaswamy, Vance, Doug Burgum, Matt Gaetz, Michael M, Trump, Juan Merchan's, Andrew Rice, he'd, Sen, Tommy Tuberville, Lauren Boebert, Cohen, Boebert, Donald J, Andrew Lieb, Lieb, ANGELA WEISS, Laurie Levenson, Neama, Merchan, Rahmani, Jeff Modisett Organizations: Service, Republican, Trump, Business, Sens, Gov, Republicans, MSNBC, Caucus, Loyola Law, Former Indiana Locations: Rick Scott of Florida, Florida, Alabama, Colorado, Manhattan
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