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☆ Stocks making the biggest moves midday: Rivian, Levi Strauss, Biogen, First Solar and more
▼ + stars: | 2023-07-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Rivian Automotive — The electric vehicle maker popped more than 16% after Wedbush raised its price target on shares to $30 from $25, citing an improved outlook. Levi Strauss — Shares of the jeans maker slumped 6.7% after the company cut its full-year profit forecast on Thursday. Levi Strauss now expects an adjusted $1.10 to $1.20 per share compared to a previous range of $1.30 to $1.40. First Solar — The solar company climbed 4.6% after receiving a five-year revolving line of credit as well as a guarantee for a $1 billion facility. The firm said it sees sales of TG Therapeutics' treatment for relapsing forms of multiple sclerosis, Briumvi, to come in above expectations for the second quarter.

Persons: Alibaba, Wedbush, Levi Strauss —, Levi Strauss, Cantor Fitzgerald, DraftKings, Jefferies, CNBC's Hakyung Kim Organizations: Reuters, Ant Group, JPMorgan, Therapeutics, TG Therapeutics, Food and Drug Administration Locations: Chicago , Illinois, Alibaba —, Thursday's

☆ Read the pitch decks from sports and video game startups that helped raise millions of dollars
▼ + stars: | 2023-07-06 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Here are pitch decks 10 sports startups used to raise millions in Series A and Seed rounds. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators. Insider talked with a handful of sports startup founders who've pitched their startups to investors about their process. They broke down the pitch decks they used to secure millions of dollars in funding. Read the pitch decks that helped 10 sports-focused startups raise millions of dollars:This post has been updated with new information.

Persons: It's, Kevin Kim, Kim, who've Organizations: Sports, Venture, Technology, Labs, NBA Locations: California

☆ Fanatics increases its offer to $225 million to acquire PointsBet's U.S. assets
▼ + stars: | 2023-06-28 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Fanatics has raised the stakes as it looks to acquire PointsBet's U.S. business. The sports platform company increased its offering by 50% to $225 million in an effort to outbid DraftKings , which made a non-binding offer of $195 million earlier this month. PointsBet shareholders will formally vote on the new offer Thursday night. "The Board unanimously supports the improved proposal from Fanatics Betting and Gaming, which provides a superior price plus certainty," PointsBet Chairman Brett Paton said in a statement. Fanatics CEO Michael Rubin told CNBC after the DraftKings announcement that he was highly skeptical of their proposed offer, which he viewed as DraftKings attempting to slow Fanatics down.

Persons: Michael Rubin, DraftKings, Brett Paton, PointsBet, Jason Robins, Paton, Rubin Organizations: PointsBet's, CNBC, PointsBet, U.S, Gaming Locations: New York, Melbourne, U.S, Australia, Canada

[1/5] Starbucks workers attend a protest as part of a collective action over a Pride decor dispute, outside a Starbucks shop in Manhattan in New York City, New York, U.S., June 25, 2023. About a dozen Starbucks workers picketed outside New York's Astor Place location in lower Manhattan on Sunday afternoon near the route of the city's Pride parade, chanting: "New York is a union town! Starbucks spent decades building its reputation as a progressive company that supports LGBTQ+ workers and customers. Maggie McKeon, who was headed into the Starbucks at Astor Place, turned around after learning about the strike. Sam Cornetta, a barista at the Farmingville, New York, Starbucks, who joined coworkers on strike at Astor Place on Sunday, said the company was alienating LGBTQ+ workers.

Persons: David Dee Delgado, Lynne Fox, we've, Jackie Zhou, Maggie McKeon, McKeon, baristas, Arthur Pratt, Pratt, Sam Cornetta, They've, Hilary Russ, Caroline Valetkevitch, Vanessa O'Connell, Lananh Nguyen, Diane Craft Organizations: REUTERS, Starbucks Corp, Workers, Starbucks, Seattle, Workers United, Reuters, U.S, Supreme, Pride, Seattle Gay, Human Rights, HRC, National Labor Relations Board, Thomson Locations: Manhattan, New York City , New York, U.S, Astor, York, New York City, San Francisco, Chicago, Portland , Oregon, , New York, Ashland , NY, New York

☆ Andrew Tate says he wants to train Elon Musk to fight the jiu-jitsu loving Mark Zuckerberg, after the two billionaires told the world they'd go mano a mano in a cage match
▼ + stars: | 2023-06-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Controversial influencer Andrew Tate wants to train Elon Musk to take down Mark Zuckerberg. Musk and Zuckerberg have been hyping up a potential "cage match" between them. Andrew Tate has offered to be billionaire Elon Musk's trainer in an apparent upcoming cage match with Meta founder Mark Zuckerberg. "Meta banned me everywhere for telling the truth about vaccines," Tate wrote. "Let's go full MMA," Musk tweeted on Thursday evening.

Persons: Andrew Tate, Mark Zuckerberg, Zuckerberg, Elon Musk's, Tate, Meta, Musk, tweeting, Iska Saric, Alex Heath, he'd, who's, Insider's Will Gendron, Bovada, It's, Musk's, Maye Organizations: Elon, Morning, Meta, Facebook, Tesla, Twitter, Sports, Las Vegas UFC, Tate Locations: Instagram, Romania, Redwood City , California

☆ NFL underlines gambling policy for players with six ‘key rules’ after recent spate of violations
▼ + stars: | 2023-06-21 | by ( Ben Morse | Wayne Sterling | ) edition.cnn.com time to read: +3 min

CNN —The NFL has stiffened its gambling policy for players by introducing six ‘key rules’ after a recent spate of violations. Don’t bet on the NFL;2. And don’t bet when you’re at work, wherever work happens to be in that moment. Rodgers added he made an “error in judgment.”In April, the NFL suspended five players for violating the league’s gambling policy. Moore of the Detroit Lions and Shaka Toney of the Washington Commanders were suspended indefinitely for betting on NFL games during the 2022 season.

Persons: Don’t, ” Jeff Miller, “ Don’t, That’s, you’re, ” Miller, Isaiah Rodgers, Rodgers, ”, Quintez, . Moore, Shaka Toney, Stanley Berryhill, Jameson Williams, Calvin Ridley, Roger Goodell, ” Goodell, “ We’ve, foolproof Organizations: CNN, NFL, Indianapolis Colts, Detroit Lions, Washington Commanders, Lions, Jacksonville Jaguars, Atlanta Falcons, Spring League Locations: Minnesota

☆ Chris Christie's appeal with moderates and previous ties to Trump helped make him the 'George Washington' of sports betting, former lobbyist said
▼ + stars: | 2023-06-18 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

His ties to former Donald Trump helped foster relationships with companies, per the Times. One such company was sports betting site DraftKings, the Times reported. Christie asserts that his time working with the company did not overlap with his time working with Trump. Sports betting companies like DraftKings also paid Christie thousands to advise and lobby their interests. One unnamed source told the outlet that one company, Scientific Games, paid Christie $30,000 a month as a consultant in 2018.

Persons: Chris Christie, Donald Trump, —, Christie, DraftKings, Jeremy Kudon, Trump, George Washington, Kudon, Trump's Organizations: New York Times, Times, Service, Pacira Biosciences, Trump, Trump . Sports, Sports, Hall of Fame, Scientific, Scientific Games Locations: New Jersey

☆ The Business of Being Chris Christie
▼ + stars: | 2023-06-16 | by ( Nick Corasaniti | Alexandra Berzon | ) www.nytimes.com time to read: +1 min

And in 2018, the Christies bought a multimillion-dollar shorefront home in Bay Head, one of the more exclusive towns on the Jersey Shore. The business of being Chris Christie has received only sporadic attention since he left public office. Mr. Christie has made millions from interests wanting to leverage his political ties, including pharmaceutical, medical and sports betting companies, like DraftKings — whose hiring of Mr. Christie has not been previously reported. Some had business with the state when Mr. Christie was governor, and saw him as a reliable advocate for their bottom line, while others were interested in tapping into his close association with Mr. Trump and the Trump administration. Christie 55 Solutions earned roughly $1.3 million in federal lobbying fees from April 2020 to April 2021, according to federal records.

Persons: Bon Jovi, Chris Christie, Donald J, Trump, —, Christie, DraftKings Organizations: New, Mr, Christie, Pacira Biosciences, ABC News Locations: Bay Head, Jersey Shore, New Jersey

☆ Entain shares slide after deal to buy Poland's STS Holdings
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: 1 min

LONDON, June 14 (Reuters) - Entain (ENT.L) shares fell to the bottom of the London blue-chip index (.FTSE) on Wednesday after the betting company announced deal to buy Poland-based sports betting operator STS holdings (STH1.WA). Entain shares fell 10% to their lowest since March 29, in their biggest daily decline in four months. After the European market close on Tuesday, the sports-betting and gaming company said it will pay 24.8 Polish zlotys ($5.97) for each STS shares in a 750 million pounds ($946 million) deal, which will further its footprint in Europe. STS shares surged to December 2021 high, last up 12.3%. Reporting by Joice Alves; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Joice Alves, Amanda Cooper Organizations: Thomson Locations: Poland, . WA, Europe

☆ European shares open flat ahead of Fed decision; Entain plunges
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +1 min

June 14 (Reuters) - European shares opened flat on Wednesday ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve, while Entain shares fell sharply after announcing a deal. The pan-European STOXX 600 index (.STOXX) held steady at 463.49 points by 0709 GMT, with the travel & leisure index (.SXTP) falling 0.9%. Ladbrokes-owner Entain (ENT.L) plunged 10.0%, falling to the bottom of the STOXX 600 after it said on Tuesday it will buy Poland-based sports betting operator STS Holdings (STH1.WA) for 750 million pounds ($946 million),Traders have all but fully priced in the Fed holding rates at the 5.00%-5.25% range later in the day, while giving it a 63% chance of a rate hike in July, according to the CME FedWatch tool. The European Central Bank will hold its policy meeting on Thursday, where it is expected to hike rates by another 25 basis points to tame stubborn inflation. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Entain, Shreyashi Sanyal, Nivedita Organizations: U.S . Federal Reserve, Holdings, Traders, European Central Bank, Thomson Locations: Poland, . WA, Bengaluru

☆ Fanatics holds second investor day as the company moves toward IPO
▼ + stars: | 2023-06-13 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Portrait for a profile on Fanatics founder & CEO Michael Rubin at his office in downtown NYC. Fanatics held its second investor day in nearly a year as the company quietly moves closer to an initial public offering, a source familiar with the matter tells CNBC. Investors were also treated to a surprise visit by football great Tom Brady, an investor in the company. Last November, Rubin gathered sell-side analysts for a meet-and-greet and to talk about his growth plans for the company. And in April, the company announced it was hiring Deborah Crawford from Meta to lead investor relations, a new position at the company.

Persons: Michael Rubin, Goldman Sachs, Tom Brady, Brady, Rubin, Deborah Crawford, Ness Organizations: CNBC, Barclays, NBA Players Association, Philadelphia 76ers, New Jersey Devils, NFL, NHL, NBA, MLB, Topps, CNBC Disruptor Locations: York, NY, NYC, New York, Florida, Meta, U.S

NEW YORK, June 6 (Reuters) - Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. Other companies are also beefing up their presence in China, including Starbucks, which plans to open 3,000 new stores there by 2025. Subway's deal with master franchisee Shanghai Fu-Rui-Shi Corporate Development Co Ltd (FRS) is the largest such agreement in Subway's history. FRS will get exclusive rights to manage and develop all Subway locations in China. "China is a key market with significant long-term growth opportunity, and we look forward to bringing the Subway experience to even more guests in the region," Subway Chief Executive John Chidsey said in a statement.

Persons: John Chidsey, Hilary Russ, Lincoln Organizations: YORK, Starbucks, Shanghai Fu, Corporate Development Co, Asia Investment Capital, Thomson Locations: China, U.S

That month, it announced five new agreements with multi-unit operators to condense and transfer more than 230 existing restaurants. "There is strong interest in growth opportunities with Subway from multi-unit operators," Subway said in a statement to Reuters for this story. Klein, the franchise attorney, said that since 2022, his firm examined three multi-unit Subway deals on behalf of clients interested in investing in the chain for the first time. Of the 100 largest multi-unit U.S. restaurant franchisees by revenue in 2022, none had a Subway in their portfolio, according to a ranking by Franchise Times magazine. Instead, top franchisees owned hundreds of Wendy's (WEN.O), Yum Brands' (YUM.N) Pizza Hut and Taco Bell, Restaurant Brands' Burger King, Dine Brands' (DIN.N) Applebee's and other chains.

Persons: Justin Klein, John Gordon, Klein, it's, Gordon, Burger, Alicia Miller, Hilary Russ, Matthew Lewis Organizations: YORK, Subway, Reuters, QSR Magazine, Restaurant Brands International Inc, Times, Yum Brands, Bell, Restaurant Brands, Catalyst Insight, Thomson Locations: United States, U.S, Miami, Jersey, New York, Nevada, New Mexico

☆ Betting expert talks how to make the most of the upcoming NBA and NHL finals
▼ + stars: | 2023-06-01 | 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 EmailBetting expert talks how to make the most of the upcoming NBA and NHL finalsKelly Stewart, Barstool Sports betting analyst, joins 'Last Call' to discuss how to make the most out of your money in the upcoming NHL and NBA finals.

Persons: Kelly Stewart Organizations: NBA, NHL, Barstool Sports

☆ DraftKings and FanDuel are dominating sports betting
▼ + stars: | 2023-05-31 | by ( Contessa Brewer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDraftKings and FanDuel are dominating sports bettingCNBC's Contessa Brewer joins 'Squawk on the Street' to report on DraftKings' outperformance and dominance in the sports betting sector.

Persons: Contessa Brewer

Sandra Douglass Morgan has seen a lot of changes in the five years since she was named to the Nevada Gaming Commission. The same year she became a gaming regulator, the Supreme Court cleared the path for legalized sports betting. During that time, Douglass Morgan went from gaming regulator to chair of the Nevada Gaming Control Board to the corporate board of directors for casino giant Caesars Entertainment . I'm incredibly blessed that I've been given these opportunities, you know, based on my skill set and my experience," Douglass Morgan told CNBC. Douglass Morgan said.

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, DraftKings, Nike, Snowflake & more
▼ + stars: | 2023-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Piper Sandler names Microsoft, Snowflake and Oracle top AI picks Piper said that Microsoft, Snowflake and Oracle are the next "all-stars" in AI. Citi adds a negative catalyst watch on Nike Citi said Foot Locker's negative earnings report last week does not portend well for Nike. Citi downgrades Foot Locker to neutral from buy Citi downgraded Foot Locker after its disappointing earnings report last week and says shares are not fully de-risked. Deutsche Bank reiterates Snowflake as buy Deutsche says it's "constructive" heading into Snowflake earnings on Wednesday. Bank of America reiterates Alphabet as buy Bank of America says the internet search giant is "well positioned for mobile."

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

In this photo illustration, the American daily fantasy sports contest and sports betting company DraftKings logo is displayed on a smartphone screen. Law enforcement authorities searched Garrison's home in Wisconsin on Feb. 23, and recovered his computer and cellphone, according to the complaint. The messages included ones where Garrison wrote, "fraud is fun . CNBC also found the same images on a website that purportedly sells compromised accounts on DraftKings and Fanduel, among others. Garrison is charged with conspiracy to commit computer intrusions, unauthorized access to a protected computer to further intended fraud, unauthorized access to a protected computer, wire fraud conspiracy, wire fraud and aggravated identity theft.

☆ Fanatics' first big sports-betting acquisition could reignite M&A in the sector, as rumors fly and buyers 'smell blood in the water'
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Fanatics' first big sports-betting acquisition could be the spark that reignites M&A in the sector. Industry insiders speculate on what deals could come next. It's go time for M&A in sports betting as newcomer Fanatics makes its first big acquisition in the sector and rumors fly about who will be snapped up next. On Sunday, Australia's PointsBet announced it had agreed to sell its US operations to Fanatics' betting and gaming division for about $150 million in cash. "I think Fanatics smells blood in the water," said one industry consultant who had been following Fanatics closely.

☆ European gambling company Entain is nearing a deal to buy a sports pricing and analytics firm for about $200 million, sources say
▼ + stars: | 2023-05-18 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Entain is nearing a deal to buy pricing and analytics company Angstrom Sports, sources say. Pricing and analytics companies are attracting M&A buzz in sports betting. European gambling operator Entain is nearing a deal to buy the London-based pricing and analytics company Angstrom Sports, three people familiar with the discussions told Insider. The deal could be worth around $200 million, though the terms have not yet been agreed upon, the people said. Pricing and analytics companies are among several smaller pockets of the sports-betting industry where M&A is heating up.

BRASILIA, May 16 (Reuters) - Brazil's Finance Ministry is preparing a new set of initiatives to increase tax revenue, including a review of deductions and exemptions for income tax on individuals, according to three sources familiar with the matter. Previous administrations have tried - and failed - to restrict income tax deductions, which allow taxpayers to use proof of certain expenses, such as medical and educational costs, to reduce their tax bills. The government estimates it is set to lose 51.1 billion reais ($10.2 billion) from exemptions, along with 31.3 billion reais from deductions in its 2024 budget bill. The finance ministry's revenue chief Robinson Barreirinhas said last month that the government was working on additional revenue measures to be announced in the second half of this year. He mentioned "very solid and consistent" studies regarding the potential to boost annual revenue by 155 billion reais as a result of combined efforts.

☆ A pair of sports betting deals has the gaming industry asking, 'Who's next?'
▼ + stars: | 2023-05-15 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

Fanatics' splashy $150 million acquisition of PointsBet's U.S. business wasn't the only deal in gambling in recent days — and it could be a sign of more to come. Fanatics on Sunday announced it has agreed to buy PointsBet's U.S. assets, a long-rumored tie-up. Fanatics CEO Michael Rubin previously vowed to launch sports betting operations in every state where it's legal, except New York. For Fanatics, the deal really pays off when it comes to upfront licensing fees it would need to pay in new states. "We're really able to save tens of millions of dollars worth of upfront license fees by leveraging PointsBets footprint versus going at it with a new footprint," said Matt King, Fanatics CEO of Betting and Gaming, on Monday.

PointsBet forecast a loss of between $77 million and $82 million for the second half of the year. "This is a 10-year journey," Matt King, the CEO of Fanatics Betting, said at the SBC Conference earlier this month. You can kind of move slower, slightly slower today, in order to move fast later." Fanatics owns commerce assets, a sports trading card business, and is building out a sports betting division. The company acquired legendary trading card company Topps for $500 million last year.

☆ Stocks making the biggest moves premarket: Cigna, Apple, DraftKings, Lyft & more
▼ + stars: | 2023-05-05 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves premarket:Cigna — Cigna gained 3% in premarket trading after beating top- and bottom-line estimates for its latest quarter and raising its full-year forecast. Apple — Apple rose 2.7% in premarket trading after beating quarterly earnings and revenue estimates, with particularly upbeat results for its flagship iPhone. Bumble — Bumble posted higher than expected quarterly sales, as user demand for its dating app remained strong. Expedia did see its highest-ever first quarter revenue, in addition to a 20% leap in gross bookings. Coinbase — Coinbase posted better than expected quarterly results, leading to a 8.1% premarket rally for the cryptocurrency exchange's stock.

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