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Check out the companies making headlines in midday trading: Southwest Airlines — The stock rose 9% after activist hedge fund Elliott Management amassed a $1.9 billion stake in Southwest Airlines. GameStop — The meme stock slipped nearly 15% in volatile trading after a roller-coaster week. Advanced Micro Devices — The chipmaker fell 3% after Morgan Stanley downgraded shares to equal weight from overweight, saying investors' expectations look elevated. ReNew Energy Global — Shares popped more than 7% after Morgan Stanley upped its price target, saying the narrative for the U.K.-based company remains strong. DraftKings — The sports entertainment stock gained 2% after Morgan Stanley renamed the company as a top pick.
Persons: Bob Jordan, Gary Kelly, Keith Gill, Huntington Bancshares, Huntington, Morgan Stanley, GoDaddy —, Dow, Robert Half, Jefferies, DraftKings, Yun Li, Alex Harring, Michelle Fox, Sarah Min, Pia Singh, Sean Conlon Organizations: Southwest Airlines, Management, Southwest, GameStop, KKR, CrowdStrike, GoDaddy — KKR, Dow Jones, Comerica, Apple, Energy, Jefferies Locations: 2H24, Illumina, Illinois
Three-Stock Lunch: Adobe, Southwest Airlines and Krispy Kreme
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Adobe, Southwest Airlines and Krispy KremeJames Demmert, Main Street Research CIO, joins 'Power Lunch' to discuss stock plays for three stocks, including Adobe, Southwest Airlines, and Krispy Kreme.
Persons: James Demmert, Krispy Organizations: Southwest Airlines, Street Research, Adobe
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMonday’s rapid fire: Southwest, Adobe, AMD, Walmart and CrowdStrikeCNBC’s Jim Cramer on Monday discussed Elliott Management’s stake in Southwest along with a batch of other headlines on Wall Street, including an upgrade of Walmart.
Persons: CNBC’s Jim Cramer, Elliott Management’s Organizations: Adobe, AMD, Walmart Locations: Southwest
Read previewDiners are cutting back on meals out during the week and saving the money for the weekends instead, a restaurant executive says. Jim Holthouser, CEO of GoTo Foods, formerly known as Focus Brands, said that some diners had been limiting their spending. GoTo Foods owns Cinnabon, Auntie Anne's, Jamba, Moe's Southwest Grill, McAlister's Deli, Schlotzsky's, and Carvel. The data only compares restaurant spending in 2019 and 2023, and doesn't show how this has changed in recent months. Estimated retail sales from GoTo Foods' licensing partners totaled about $1.5 billion in 2023, or just over a quarter of total sales across its brand portfolio.
Persons: , Jim Holthouser, Auntie Anne's, Carvel, Holthouser, Wendy's, GoTo, Anne's pretzels Organizations: Service, GoTo Foods, Focus Brands, Business, Subway
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElliott doesn't want to run an airline, just want change: Fmr. United CEO on $2B Southwest stakeOscar Munoz, Former United Airlines CEO, joins 'Closing Bell Overtime' to talk activist investor Elliott Management's new stake in Southwest airlines.
Persons: Elliott doesn't, Oscar Munoz, Elliott Management's Organizations: Former United Airlines CEO Locations: Southwest
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "Southwest Air is an underperformer for many, many years, but it does have a good balance sheet," Jim Cramer said. "I'm not so sure they're as high as people think," Cramer said. The CNBC Investing Club has long owned Nvidia , the dominant maker of AI chips. And yet if you look at the long term, Palo Alto has been very good," Cramer said.
Persons: Jim Cramer's, Elliott, Jim Cramer, Ben Reitzes, Cramer, you've, Morgan Stanley, Lisa Su's, GoDaddy, George Kurtz Organizations: CNBC, Club, Southwest Airlines, Elliott Management, Melius, Adobe, Devices, Nvidia, Walmart, JPMorgan, Costco, Investing Club, KKR, Palo Alto, Palo Alto Networks Locations: Texas, , Palo Alto
Russia is fortifying the Kerch Bridge with barges, says the UK's defense ministry. The barges will help "to defend the bridge and shipping channel" from Ukrainian attacks, per the UK. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia is shoring up the defenses for the Kerch Bridge with barges, the UK's defense ministry said on Saturday. "Analysis of imagery has identified the installation of eight barges on the southern side of the Kerch Bridge," the UK's defense ministry wrote in its intelligence dispatch.
Persons: Organizations: Service, Russian, Ukrainian Unmanned, Vehicles, Business Locations: Russia, Kerch, Crimea, Ukraine
A Southwest Airlines jet comes in for a landing at Laguardia Airport in New York City, New York, U.S., January 11, 2023. Activist hedge fund Elliott Management has amassed a $1.9 billion stake in Southwest Airlines and plans to push for leadership changes at the airline that has lagged big rivals. Elliott said it intends to "pursue all available pathways to deliver the leadership changes" the activist believes Southwest needs. Jordan and Kelly have "presided over a period of stunning underperformance at" Southwest, Elliott said. In just the last few months, the activist has taken a $2.5 billion stake in semiconductor firm Texas Instruments , a $2 billion stake in Japanese conglomerate SoftBank and a $1 billion stake in mining concern Anglo American .
Persons: Elliott, Bob Jordan, Gary Kelly, Jordan, Kelly, Henry Harteveldt, Elliott's Organizations: Southwest Airlines, Laguardia, Elliott Management, Southwest, Delta Air Lines, United Airlines, CNBC, Atmosphere Research, Boeing, Crown, Texas Instruments Locations: New York City , New York, U.S, Southwest, Texas
'Mad Money' host Jim Cramer talks Elliott Management's $2 billion stake in Southwest airlines. Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email
Persons: Jim Cramer, Elliott Management's Locations: Southwest
New York CNN —Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier. Southwest (LUV) stock gained more than 6% in trading Monday on the news of Elliott’s letter to the Southwest Board. Ellioitt’s letter made no mention of a desire to change Southwest from an all-737 fleet, which would increase the cost of pilot training and spare parts. Its letter does not give details about the changes it wants to see, other than a change in leadership at the airline. CEO Bob Jordan told investors last month that the airline is “seriously studying” a possible change to that policy.
Persons: , Elliott, Bob Jordan Organizations: New, New York CNN, Elliott Investment Management, Southwest Airlines, Dallas, Southwest Board, Boeing, Department of Transportation, Texas, Johnson Controls Locations: New York, ” Florida, Softbank
DraftKings — The sports betting stock added 1.8% after Morgan Stanley reiterated its overweight rating and said shares were again worthy of a top-pick designation. Morgan Stanley said the stock can rally despite concerns around Illinois' legalization of a sports betting tax. Nvidia — Shares were marginally lower ahead of the chipmaker stock's first day of trading after its 10-for-1 stock split . Planet Fitness — Stock in the fitness center chain advanced about 4% on the heels of an upgrade from Jefferies earlier on Monday. Analyst Randal Konik said "the stars have aligned" for Planet Fitness stock, adding that he expects strong franchise unit growth in 2025.
Persons: GoDaddy, Robert Half, Dow, Morgan Stanley, Joseph Moore, Randal Konik, — CNBC's Michelle Fox, Alex Harring, Jesse Pound Organizations: KKR, CrowdStrike, Comerica, Dow Jones, Dell Technologies, Palantir Technologies, AMD —, Nvidia —, Southwest Airlines —, Street Journal, Elliott Investment Management, Carvana, JPMorgan, Energy Global, Jefferies, Fitness Locations: Illinois
But if you ask some Americans, airfares have gotten out of control in recent years. Keyes said international inflation-adjusted airfares for US passengers have also generally fallen over the past decade. To be sure, any frustrations about airfare prices haven't stopped many Americans from flying. "The decline in inflation-adjusted airfares appears to be uncorrelated with the financial performance of the 'big three' airlines," Tan said. AdvertisementIt's also possible that after airfare prices plummeted due to the pandemic, 2022's swift rise in airfares caught Americans off guard.
Persons: , airfares, Scott Keyes, Mike Daher, It's, Keyes, Biden, Kerry Tan, they've, haven't, Tan, ​ Tan, there's, airfare, Hayley Berg, Hopper's, NerdWallet Organizations: Service, Bureau of Transportation Statistics, Business, Deloitte, Gallup, JetBlue, Spirit Airlines, Department of Transportation, TSA, Loyola University Maryland, Delta, of Transportation, Airlines for America, Southwest, Spirit, United, Biden Administration, The Airlines Locations: United, America
Delta Air Lines said Monday that it will bring its premium economy service to transcontinental flights in September, its latest attempt to boost sales of higher-priced tickets to customers willing to splurge for more space and perks. Premium economy is a relatively new class of service that major airlines offer on longer, mostly international flights. Delta customers who purchase standard economy tickets will be able to pay for upgrades to premium economy on the transcontinental flights. The seats were sold as extra legroom tickets, which are a rung below premium economy. Some American Airlines ' shorter domestic flights operate a similar model, featuring lie-flat seats but not the Flagship service offered on international flights.
Persons: John F Organizations: Boeing, Delta Air Lines, JFK International, Delta, JetBlue Airways, Southwest Airlines, Kennedy International Airport, Medallion, American Airlines, Flagship Locations: Dublin, New York, Manhattan, Los Angeles, New
Read previewTwo cargo ships traveling off Yemen's southern port city of Aden caught fire after being hit by projectiles suspected to have been fired by Houthi rebels, UK maritime agencies reported. Suspicion for the attack fell on Yemen's Houthi rebels, who have not claimed responsibility for the latest attack but have been targeting shipping in the area for several months with missiles and drones. AdvertisementThe British security firm Ambrey later said a cargo vessel from Antigua and Barbuda had been hit by a missile 83 nautical miles southeast of Aden. "The master reports that the vessel was hit by an unknown projectile on the aft section, which resulted in a fire. On Monday, the Houthi rebels said they had fired a new solid-fuel missile called the "Palestine" at the southern Israeli city of Eilat on Monday.
Persons: , Houthi, Sundayit, Yemen's, Ambrey, UKMTO, we're, Stéphane Dujarric Organizations: Service, United Kingdom Maritime Trade Operations, UK's Royal Navy, Business, Reuters, Command, Reuters Houthis, Shipping, US Navy, UN, Unicef, Food, Unesco, Bloomberg Locations: Aden, UKMTO, Antigua, Barbuda, Yemen, Israel, Gaza, Africa, Palestine, Eilat, Monday, New York
CNN —US and Canadian officials are investigating after a 689-foot ship collided with an underwater object and began taking on water in Lake Superior, the US Coast Guard says. The merchant ship was carrying taconite, a low-grade iron ore, the Coast Guard said on X. Half of the ship’s 22-person crew was removed from the vessel after the incident, according to a news release. The US Coast Guard and Transport Canada will conduct marine casualty investigations to determine if the hull damage was caused by the ship running aground, hitting a fixed or floating object, hull failure or a combination of these, according to Thomas. The ship departed Two Harbors, Minnesota, on Friday and was headed to Thunder Bay in Canada, according to MarineTraffic.com.
Persons: Michipicoten, Lorne Thomas, Thomas Organizations: CNN, US Coast Guard, Coast Guard, Ninth Coast Guard District, Transport Locations: Lake Superior, Isle Royale, Thunder Bay , Ontario, Transport Canada, Harbors, Minnesota, Bay, Canada
Where New Tent Cities Are Rising in Central Gaza
  + stars: | 2024-06-09 | by ( Lauren Leatherby | ) www.nytimes.com   time to read: +4 min
Tents seen in southwest Gaza in May Tents seen in April Area analyzedWhere New Tent Cities Are Rising in Central GazaA growing area of central Gaza is filling up with tents, satellite imagery shows, as Palestinians who fled south to Rafah to escape danger have picked up their possessions and moved yet again in search of safety. Sea Deir al Balah Deir al Balah GAZA STRIP GAZA STRIP Khan Younis Khan Younis Many left Rafah for central Gaza beginning in early May GAZA STRIP Area shown Rafah Rafah Mid April Late May Area where tents are visible Med. Sea Deir al Balah Deir al Balah GAZA STRIP GAZA STRIP Many left Rafah for central Gaza beginning in early May Khan Younis Khan Younis GAZA STRIP Area shown Rafah Rafah Source: Satellite imagery from Planet Labs. Some people sheltering in western Rafah also began packing up, even though the area was not named in the evacuation order. With space at a premium, some people have been forced to pitch their tents just meters away from the waves.
Persons: Deir, Khan Younis Khan Younis, May Khan Younis Khan Younis, Israel, Khan Younis, Deir al Balah Organizations: Planet Labs, United Nations, Labs Locations: Gaza, Central Gaza, Rafah, Deir al, GAZA, Rafah Rafah, May Khan Younis Khan Younis GAZA, Al, Israel, Deir, Deir al Balah, Wadi Gaza, Egypt
Duran Duran. Ms. Cole, 54, who described fandom as “basically obligatory” when she was in high school, hadn’t listened to the band much since. That is, until she met Ms Moore, also 54, and a lifelong “Duranie,” as die-hard fans are called. “Beth and I spent hours picking apart their videos,” and analyzing what she described as “pornographic images of women.” (Nevertheless, she remains a fan.) Their fervent discussions inspired Ms. Cole to write her master’s thesis on the subject.
Persons: Sheri Kathleen Cole, Ellen Elizabeth Moore, Duran Duran, Ms, Cole, hadn’t, Ms Moore, Duranie, , Duran Duran’s, “ Beth Organizations: Southwest Center, University of Cincinnati Locations: Philadelphia
CNN —Rachel Smolkin, a veteran media executive who leads CNN’s global digital news, is departing the network to become the next president and CEO of Oregon Public Broadcasting. OPB called Smolkin a forward-thinking journalist and a strong business strategist who can help lead the 100-year-old public media organization through a difficult environment for the journalism industry – and public media, in particular. “Rachel will advance our work with deep experience in journalism, wide professional networks and adaptive leadership skills.”Smolkin joined CNN in 2014 to lead politics coverage for CNN Digital. Over the past several years, Smolkin’s purview grew to include national, international, business and live news for CNN Digital. Before joining CNN, Smolkin worked at Politico, USA Today and the American Journalism Review.
Persons: Rachel Smolkin, OPB, , Rukaiyah Adams, “ Rachel, ” Smolkin, Rachel, Virginia Moseley, CNN’s, “ She’s, Smolkin, Mark Thompson, , Steve Bass, Sam Feist Organizations: CNN, Oregon Public Broadcasting, CNN Digital, University of Virginia’s Darden School of Business, Politico, USA, American, SPAN Locations: Oregon, Pacific Northwest, , Washington
As high prices at grocery stores, gas pumps and pharmacies have soured many voters on his first term, President Biden has developed a populist riposte: Blame big corporations for inflation, not me. Now, some progressives are urging Mr. Biden to follow those senators’ lead and make “greedflation,” as they call it, a driving theme of his re-election bid. And they believe polls show voters are primed to hear the president condemn big corporations in more forceful terms. “It’s a winning message for Democrats,” said April Verrett, the president of the Service Employees International Union, which is knocking on doors in battleground states as part of a $200 million voter-turnout operation. “And clearly Bob Casey, who’s doing better in the polls than the president, is proving that it’s the winning message.”
Persons: Biden, The Biden, Bob Casey of Pennsylvania, Sherrod Brown of Ohio, , Mr, , Donald J, Trump, It’s, , Verrett, Bob Casey, who’s Organizations: The, Service Employees International Union
Eyewitnesses told CNN Thursday how fighters from Sudan’s paramilitary Rapid Support Forces (RSF) descended upon Wad al-Nour village in the central Al-Jazira state on Wednesday. Both the Sudanese army and the RSF have faced damning accusations of civilian massacres since the civil war broke out in April 2023. The RSF acknowledged the attack in a statement Wednesday and said it was a pre-emptive attack on Sudan’s Armed Forces (SAF), camps in Wad Al-Noura in response to a planned attack by the army. This was not the first attempt by the RSF to control Wad al-Noura, as they have tried several times to take the village. Since the conflict started, both the Sudanese army and the RSF have faced damning accusations of civilian massacres.
Persons: Nour, we’ve, , RSF, , Abdel Fattah al, Burhan, Mohamed Hamdan Dagalo, Alice Wairimu Nderitu, ” CNN’s Avery Schmitz Organizations: CNN, Sudan’s, Rapid Support Forces, Sudanese, Sudan’s Armed Forces, SAF, Sudanese Army, Transitional Sovereignty, Organization for Migration, UN, Humanitarian Affairs, UN Security Council Locations: Sudan, Al, Jazira, Nour, Khartoum
Some 170 miles southwest of the celebrated landing beaches in Normandy, the remains of a D-Day site few visit peek out from behind trees in rural Brittany. Among them were French army commandos parachuted in to block the Nazis from sending reinforcements to the beaches. But before the operation could be put into full swing, the camp was discovered by the Nazis and destroyed. Dozens of fighters were hunted down and killed. In retribution, most buildings in the surrounding area were burned and hundreds of locals were executed.
Persons: Marcel Maquis — Organizations: Saint, BBC Locations: Normandy, Brittany
The pilots of the Delta flight aborted their takeoff run following a frantic call from the air traffic controller in the tower. The two planes came within 1,400 feet of colliding, NTSB data released earlier this year found. It also follows two recent runway incursions at Ronald Reagan Washington National Airport, including one being investigated by the NTSB. Known as ASDE-X, the NTSB says the system helped stop the impending collision at JFK, but it is deployed at only 35 major airports in the United States. Such a recording would have provided key details about what happened, the NTSB said.
Persons: John F, Ronald Reagan, we’ve, Jennifer Homendy, Homendy Organizations: CNN, Kennedy International, National Transportation Safety Board, American Airlines Boeing, Delta Air Lines Boeing, NTSB, Federal Aviation Administration, JFK, Thursday’s NTSB, FedEx, Ronald Reagan Washington National Airport, FAA Locations: JFK’s, Thursday’s, Austin , Texas, Southwest, Ronald Reagan Washington, JFK, United States
Just ask Black rugby player and England international Sadia Kabeya, who says a lack of cultural and ethnic diversity in her sport took a toll on her identity. Representation mattersA 2020 report by Sport England showed that the participation share of White British adults in rugby union was more than 90%, 8.2% higher than the national population share. A lack of diversity in the sport in England is also reflected in the demographics of rugby audiences. Kabeya is particularly passionate about the topic of Black rugby players’ hair. Its significance runs deep, given the historical links between Black hair and identity and also resistance.
Persons: Kabeya, , , ” Kabeya, Maud Muir, Lucy Packer, David Rogers, you’re, White, ” “, ” Jatin Patel, weren’t, Luther Burrell, Burrell, ” Patel, Ashton Hewitt –, , ” Hewitt, Hewitt, Tyler Miller, Liam Scott, Scott, Mike Hewitt, Patel, George Floyd Organizations: CNN — Elite, England, CNN Sport, Rugby Football Union, RFU, Rugby, Rugby Players Association, Nations, Richmond Women, CNN, Six Nations, Getty, Loughborough Lightning, Sport England, Diversity, Daily Mail, Newcastle Falcons, Dragons, United Rugby, Leinster, rugby, Ireland, Twickenham, Pictures Locations: , England, London, Richmond, Wales, Dublin, Black
A view of transmission towers in flames as Corral Fire continue in San Joaquin County, California, United States on June 2, 2024. "It's coming early," said Eric Kurth, a meteorologist with the National Weather Service in Sacramento, California. The forecast suggests temperatures may climb to 113 degrees Fahrenheit in Phoenix and could reach 108 in California's Central Valley. The National Weather Service is forecasting a heat wave throughout much of the Southwest and parts of California from Tuesday through Thursday as a ridge of high pressure centers over the region. Following a bout of extreme pre-summer heat in Texas and Florida , California and Arizona are next in line for temperature spikes.
Persons: It's, Eric Kurth, Cecile Juliette, Kurth Organizations: National Weather Service, Fire, California Department of Forestry, Atmospheric Administration, Southwest, Associated, for Disease Control, AP Locations: San Joaquin County , California, United States, Sacramento , California, Phoenix, Central Valley, California, Texas, Florida , California, Arizona, Tracy , California, San Francisco, U.S, Maricopa County
Ukraine has deployed special forces to Syria to fight Russian mercenaries there, per the Kyiv Post. They are backing Syrian rebels in fighting the Assad regime in the southwest, per the outlet. Ukraine is also fighting Wagner mercenaries in Sudan, the outlet previously reported. AdvertisementUkraine has deployed special forces units to Syria to combat Russians there, according to the Kyiv Post. Ukrainian special forces are fighting side by side with Syrian rebels against Russian mercenaries and Syrian President Bashar Assad's regime in the Middle Eastern country, the outlet reported.
Persons: Assad, Wagner, , Bashar Assad's Organizations: Kyiv Post, Service, Russian, Ukrainian, Directorate of Intelligence, Business Locations: Ukraine, Syria, Kyiv, Sudan, Ukrainian
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