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☆ 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.

☆ Flutter Q1 revenues jump 29% as U.S. races ahead, UK bounces back
▼ + stars: | 2023-05-03 | by ( Padraic Halpin | ) www.reuters.com time to read: +2 min

Led by its Fanduel brand, Flutter maintained its leading 50% share of the U.S. sports betting market after revenue jumped 92% year-on-year on a constant currency basis. UKI revenue had fallen sharply in the same period last year, partly due to the impact of measures to curb gambling addiction. Chief Executive Peter Jackson put about half the growth down to product improvements and said competitors belatedly adopting safer gambling measures may also have helped Flutter outperform the market, which he estimated was flat year-on-year. Revenue also rose 69% on a constant currency basis in its international division, where Flutter said the recently acquired Italian gaming operator Sisal performed exceptionally well. The Dublin-based firm forecast in November that Fanduel's revenue would jump to around $15 billion over the long term - twice Flutter's entire revenue last year.

May 2 (Reuters) - Starbucks Corp (SBUX.O) beat Wall Street estimates on Tuesday for quarterly profits and comparable sales, powered by a sharp recovery in business in China and steady demand for its coffees and cold drinks in North America. Even so, some analysts expected China sales to remain in the red after tumbling 29% the previous quarter. Instead, the world's largest coffeehouse chain posted a 3% rise in China comparable sales in its second quarter ended April 2, boosting the company's international sales 7%, more than double the 2.94% increase of the average analyst's estimate, according to Refinitiv data. Globally, the Seattle-based chain's comparable sales climbed 11%, trouncing analysts' expectation of a 7.36% rise. Excluding one-time items, Starbucks earned 74 cents per share, beating estimates of 65 cents.

☆ Players union warns agents over mobile betting apps in memo
▼ + stars: | 2023-05-02 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

NEW YORK, May 2 (Reuters) - The National Football League Players Association (NFLPA) has sounded the alarm about the use of sports betting apps, warning agents that the mobile gambling platforms can track their clients' activity, leading to stiff penalties. "We have confirmed that some states monitor/audit FanDuel and the other gambling apps to ensure that the companies are in compliance with state law," the NFLPA said in a memo on Monday seen by Reuters. It was as part of that monitoring that the NFL learned of the players using the apps at work in violation of NFL rules," it said. In March, Jacksonville Jaguars wide receiver Calvin Ridley was reinstated after serving one year of an indefinite suspension for violating NFL rules on gambling. "At no time should players open or use any mobile gambling app while at work."

NEW YORK, May 1 (Reuters) - Subway, which is exploring a potential $10 billion sale, further shrank last year in the United States as franchisees closed 2.7% of the brand's sandwich shops, squeezing its royalties and fees. The chain shed another net 571 locations in 2022 after even steeper closings in previous years in the United States, its largest global market, according to the latest disclosure document it provides to franchisees who are interested in buying locations. Subway has closed thousands of U.S. locations in recent years due to over-expansion, outdated operations and decor, stale menus and $5 footlong deals that eroded franchisees' profits. Subway franchisees closed more than 1,000 net U.S. locations in 2021 and 1,609 in 2020. At the end of 2022, Subway had 20,576 shops in the United States.

☆ NBA, NBPA ratify new collective bargaining agreement
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 - The NBA Board of Governors and NBA players ratified the new Collective Bargaining Agreement on Wednesday, a seven-year deal that will start on July 1 and run through the 2029-30 season. It features a number of major changes, including an in-season tournament where players on the winning team would each earn $500,000. Despite the plethora of changes, the CBA still requires players to be at least 19 years old to enter the league. But the sides never reached an agreement on that, keeping the "one-and-done" rule in place. Had the sides not reached an agreement on the CBA earlier this month, either party could have decided to opt out of the current agreement, which would have caused the first major NBA work stoppage since the 2011-12 season.

☆ Fanatics moves one step closer to IPO, hiring Meta's head of investor relations
▼ + stars: | 2023-04-27 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

While an IPO is not on the immediate horizon, the company is taking a step in the direction of preparing for one, hiring Meta's investor relations head to further build out its engagement with current and future shareholders. Deborah Crawford, who has served as Meta 's vice president of investor relations for more than eight years, is being appointed as Fanatics' head of investor relations, a new position at the company. Prior to Meta, Crawford was head of investor relations for Netflix, where she helped initiate the streaming company's first formal investor relations function, according to Fanatics. Schiffman declined to comment on the potential timing of a Fanatics IPO but confirmed the company has a goal of going public. Fanatics has seen its valuation and investor roster drastically expand in recent years, which has also helped to fuel IPO chatter.

April 25 (Reuters) - Chipotle Mexican Grill Inc (CMG.N) topped Wall Street expectations for first-quarter profits and sales on Tuesday, helped by higher menu prices, 41 new restaurant openings and some recovery among lower-income customers. The company said it expects second quarter and full year comparable sales growth in the mid-to-high single digits. Even with inflation squeezing household budgets, restaurant chains are expected to post higher sales growth in the first quarter. Comparable sales at California-based Chipotle jumped about 11% in the first quarter, while analysts on average expected an 8.6% rise, according to Refinitiv data. Inflation in the second half is "really a wild card," Chief Financial Officer Jack Hartung said on the earnings call.

rushed to embrace a lucrative line of business it had denounced for decades as bad for the sport. The league on Friday handed down some of the strictest penalties it has ever issued, banning three players for at least the 2023 season for betting on N.F.L. games and suspending two others for six games for other violations of the league’s betting policy. The scale of the latest scandal and the terse verdict from the league rekindles questions about the precarious line the N.F.L. This week’s investigation ended with two more Lions players, receivers Stanley Berryhill and Jameson Williams, suspended for six games for lesser gambling violations that did not include betting on N.F.L.

☆ NFL Suspends Five Players for Sports Gambling
▼ + stars: | 2023-04-21 | by ( Andrew Beaton | ) www.wsj.com time to read: 1 min

Detroit Lions wide receiver Jameson Williams was a first-round pick in 2022. Photo: Paul Sancya/Associated PressThe NFL has suspended five players, including four on the Detroit Lions, for violating the league’s gambling policy in the league’s biggest crackdown since the widespread proliferation of legal sports betting across the U.S.Three players—the Lions’ Quintez Cephus and C.J. Moore, along with Shaka Toney of the Washington Commanders—were suspended indefinitely, through at least 2023, for betting on NFL games this past season. Detroit released Cephus and Moore when their suspensions were announced.

☆ Top pro leagues, media outlets team up to combat problematic sports-betting ads
▼ + stars: | 2023-04-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The nation's top professional leagues are teaming up with some TV broadcasters to tackle irresponsible sports-betting advertising. The NFL, NBA, NHL, MLB, WNBA, NASCAR, and MLS have joined media companies NBCUniversal and Fox to form The Coalition for Responsible Sports Betting Advertising. The coalition, led by NFL vice president of public policy and government affairs, Jonathan Nabavi, aims to regulate sports-betting advertising as it floods television, internet and print media. The move comes as sports betting becomes legal in more states and opponents worry its advertising targets minors. The National Council on Problem Gambling has commended the coalition and promised to work in collaboration with it to "better mitigate problem gambling related harm."

NEW YORK, April 18 (Reuters) - Burger King is banking on its viral "Whopper Whopper" jingle to lift sales as part of the flagging fast-food chain's turnaround plan, as broader economic uncertainty pushed two big franchisees into bankruptcy. "I'm optimistic about the trajectory of sales in 2023," said U.S. and Canada Burger King president Tom Curtis in an interview, adding that the jingle's fervent success was "unanticipated." Unlike other fast-food chains like Subway that are consolidating restaurant ownership among fewer franchisees, Burger King is expanding the number of owners in its system. This year, two large U.S. Burger King franchisees that run more than 200 locations across at least 10 states have filed for bankruptcy, citing poor sales atop surging costs for labor and goods. "We don't want to diminish the importance of this crisis, but we also will leverage it to bring in new operators," Curtis said.

☆ A millennial who grew his net worth to $600,000 explains what it took to dig his way out of debt after overcoming a gambling addiction
▼ + stars: | 2023-04-10 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

Ambus Hunter, 36, said he almost went broke when he became addicted to gambling over a decade ago. His net worth is now about $600,000, and he works part time as a financial coach. Over the course of just four weeks, he said he lost roughly $10,000 — almost all his savings — playing roulette. Hunter said he'd had one major hiccup since he committed to quitting gambling but that he was able to get back on track. He said he set out to quickly replace the roughly $10,000 he'd lost.

☆ Here are Wednesday's top analyst calls of the day: Disney, Apple, Amazon, Dutch Bros, Meta & more
▼ + stars: | 2023-04-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Bank of America reiterates Disney as buy Bank of America said Disney remains "best-in-class." Piper Sandler reiterates Apple as overweight Piper said its survey checks show Apple is still a top pick for teens. Bank of America upgrades Livent to buy from neutral Bank of America said the lithium company's "value proposition" has increased. " Wedbush upgrades Dutch Bros to outperform from neutral Wedbush upgraded the coffee chain and said it sees more upside. Bank of America reiterates Apple as buy Bank of America raised its price target on Apple to $168 per share from $158 and said it sees iPhone trends stabilizing.

☆ Taxes and adulting: What to know about filing taxes on your own for the first time
▼ + stars: | 2023-04-03 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

Taxes are genuinely confusingIf you’re confounded by filing your taxes, you may think it’s because you’re young and inexperienced. Organize everything before filling out anythingYour tax return is a financial snapshot of your life over a 12-month period, in this case 2022. Above those levels, the child tax credit starts to get reduced. Deadlines matterYour federal tax return is due on April 18. That is the day by which you must have filed your 2022 individual tax return and paid any remaining federal income taxes owed for last year.

☆ Brazil targets Asian e-commerce giants, local companies in tax push
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +2 min

BRASILIA, April 3 (Reuters) - Brazil will soon unveil tax measures, including a crackdown targeting Asian e-commerce giants and curbs on some company tax benefits, as it looks to raise more than 100 billion reais ($20 billion), Finance Minister Fernando Haddad said on Monday. The e-commerce measures come in response to complaints from local retailers about unfair competition from Asian giants such as AliExpress, Shein, and Shopee. He later told journalists that combating the practice, which Haddad called "smuggling", should generate 7 billion reais to 8 billion reais in new revenue for the government. The most significant impact will come from the government's move to seek approval from the Federal Supreme Court to disallow companies from receiving tax breaks from states on operating expenses, which result in them paying less federal tax. The tax reform proposal should be voted in the Lower House by July and in the Senate by October, Haddad said.

[1/2] Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, U.S., November 17, 2022. REUTERS/Lindsay DeDario//File PhotoNEW YORK, March 29 (Reuters) - Starbucks shareholders approved a proposal for the coffee chain to conduct an independent assessment of its labor practices as it contends with hundreds of newly unionized U.S. cafes, according to voting results filed on Wednesday. The city's public pension funds and a coalition of other shareholders, who combined hold about 2.2 million Starbucks shares, proposed the assessment. "It is clear from the vote result in the proposal that our investors share our commitment to our partners," Starbucks said in its regulatory filing disclosing the results. The Seattle-based company said it will use findings of the review to "understand how we can best support our partners."

REUTERS/Julia NikhinsonWASHINGTON/NEW YORK, March 29 (Reuters) - Starbucks' former Chief Executive Howard Schultz defended himself and the coffee chain against allegations of "union busting" at a U.S. Senate committee hearing in Washington on Wednesday. Senator Bernie Sanders, Chair of the Senate Health, Education, Labor, and Pensions Committee, told Schultz that "Starbucks has waged the most aggressive and illegal union busting campaign in the modern history of our country." "These are allegations and Starbucks has not broken the law," Schultz told Sanders during the hearing. His return to Starbucks as its interim leader in April 2022 was "95% focused on the operations of the business" and his involvement in the company's union strategy has been "de minimis," Schultz said. Republicans defended Schultz, praising the company's competitive wages, health benefits, employee stock purchase program and other benefits.

[1/2] Starbucks Chairman and CEO Howard Schultz looks on during its Annual Meeting of Shareholders in Seattle, Washington March 21, 2012. Senators blasted ex-Starbucks Chief Executive Howard Schultz on Wednesday over the company's "union busting" when he was at the helm. Starbucks has denied allegations that it illegally fired pro-union baristas or spied on workers as hundreds of stores organized unions starting in late 2021. "These are allegations and Starbucks has not broken the law," Schultz told Sanders during the hearing. His return to Starbucks as its interim leader in April 2022 was "95% focused on the operations of the business" and his involvement in the company's union strategy has been "de minimis," Schultz said.

☆ Hedge Fund manager Dan Niles says the banking crisis will get worse. How to invest from here
▼ + stars: | 2023-03-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

The market is still dealing with the potential fallout of the banking crisis and Satori Fund's Dan Niles says it could get a lot worse before it gets better. Investors have been abuzz lately about the possibility that the Federal Deposit Insurance Corporation (FDIC) would consider providing "blanket insurance" for all banking deposits. The next step in navigating the ongoing crisis starts there, Niles said. "The next phase is we have to expand the FDIC insurance," he told CNBC's "Squawk Box" Thursday. Niles also mentioned that 3-month Treasury bills are a good opportunity to get a 4.7% return "with no risk."

☆ A 27-page report breaks down where the money is flowing in sports tech and the investors to watch. Here were 5 key takeaways.
▼ + stars: | 2023-03-22 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +7 min

Investment bank Drake Star broke down dealmaking in 2022 and what it means for the year ahead. Sports tech M&A activity in 2022, from Drake Star's Global Sports Tech Report 2022. Drake Star Global Sports Tech Report 2022The fourth quarter saw a surge in M&A volume with 67 deals, the most in the sector's recent history. More sports tech companies could explore public listings in the second half of the year. "Some of the IPO ready sports tech companies are expected to explore IPO/SPAC listings."

☆ Don't lose your life savings on your phone: A millennial with a sports-betting addiction explains how he's cut back as March Madness hype mounts
▼ + stars: | 2023-03-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

James said sports betting was a way to "lose your life savings on your phone." But sometimes gambling addiction gets you to do crazy things." While the highs were "exhilarating," James said, gambling began to take over his life. After downloading a sports-betting app, he began by betting roughly $50 to $100 at a time on anything from baseball to hockey to tennis. But then he started winning — at one point winning roughly 14 of 16 bets — which he said was the "worst thing" that could have happened to him.

☆ Betting on WWE matches? 'NFW!' say gaming operators and regulators
▼ + stars: | 2023-03-10 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

"The Colorado Division of Gaming is not currently and has not considered allowing sports betting wagers on WWE matches," they said. It issued a public statement advising WWE to work with the gaming industry. replied Adam Greenblatt, CEO of BetMGM, whether he would be eager to accept wagers on the WWE's scripted matches. The American Gaming Association, which represents both commercial and tribal operators, told CNBC: "Both regulators and operators must have confidence in the integrity of the competitions." "Ultimately, most industry stakeholders seem to view WWE betting as even more optically-challenging than betting on awards shows," Sharp Alpha Advisors managing director Lloyd Danzig said.

☆ London fears for its future as companies defect to Wall Street
▼ + stars: | 2023-03-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —London is used to punching well above its weight in global financial markets. And 70% of global secondary bond market trading happens in the city, according to the London Stock Exchange. Beyond the jobs they create and the tax they generate, financial markets also channel capital into companies to fund future growth. In other words, to safeguard its future, London needs to reinvigorate its stock markets. Those “unicorns” should be listing in London “at an earlier stage,” Haynes argues, “rather than growing through private equity and being sold off to Nasdaq.”Hoggett of the London Stock Exchange puts it this way: “London needs to be young, scrappy and hungry.”

☆ WWE wants betting to become legalized as the wrestling organization lobbies state regulators
▼ + stars: | 2023-03-10 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +2 min

WWE reportedly wants its fans to be able to bet on its scripted matches just like other sports. WWE has presented betting on other events where results are predetermined like the Oscars as a comparable example. Under WWE's new proposal, it will keep the results of events secret for months by working with an accounting firm. The first states that WWE approached about the possibility of legalizing the bets included Michigan, Indiana, and Colorado, according to CNBC. In the few states where it's legal, some sportsbooks like DraftKings and FanDuel allow betting on events like the Oscars in their mobile app, CNBC reported.

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