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☆ BNP says tough economy could spur opportunities for bolt-on deals
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 26 (Reuters) - Slower economic growth in 2024 could create more opportunities for bolt-on acquisitions, BNP Paribas (BNPP.PA) Chief Financial Officer Lars Machenil said on Thursday. "If the (economic) growth is a bit more timid, which is probably what we're going to see next year, then that fuelling of additional growth - natural, organic - will be a tad slower," Machenil said. Machenil didn't elaborate on the nature of the potential bolt-on acquisitions. "Depending on how the next year will unfold, yes (there) might (be a) shift a bit towards bolting on," he said. Reporting by Mathieu Rosemain Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Lars Machenil, Machenil, Mathieu Rosemain, Mark Potter Organizations: BNP, Deutsche, ABN Amro, Bank of, Thomson Locations: Bank

☆ ECB clears 2.5 billion UniCredit share buyback tranche
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

Unicredit Bank logo is seen in this illustration taken March 12, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMILAN, Oct 26 (Reuters) - The European Central Bank (ECB) has given the green light for UniCredit (CRDI.MI) to buy back an initial tranche of shares up to a value of 2.5 billion euros ($2.6 billion), the Italian bank said in a statement on Thursday. UniCredit intends to distribute a minimum of 6.5 billion euros to its shareholders this year via dividends and buybacks. UniCredit this week beat third-quarter profit forecasts and kept its full-year income goal unchanged. ($1 = 0.9495 euros)Writing by Keith Weir, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, UniCredit, Keith Weir, Alvise Organizations: REUTERS, European Central Bank, Thomson

☆ TotalEnergies sticks to share buyback plans despite net income drop
▼ + stars: | 2023-10-26 | by ( ) www.cnbc.com time to read: +2 min

TotalEnergies on Thursday posted a 35% fall in third quarter adjusted net income from last year's record high, hurt by a drop in energy prices, but maintained its share buyback operation as conflicts push oil prices back up. The French energy company's adjusted net income stood at $6.5 billion, down from the year-earlier $10 billion but just beating an analyst forecast of $6.4 billion, according to a consensus established from LSEG data. Second quarter adjusted net income was $5 billion. Profits were buoyed by the company's increase in renewable capacity and integration as well as persistently high oil prices, despite crude falling from a decade-plus high last year following Russia's invasion of Ukraine. Oil prices remained buoyant at around $90 per barrel at the beginning of the fourth quarter, it said.

Persons: Patrick Pouyanne, TotalEnergies Locations: Ukraine, United States, Port Arthur, Antwerp, Belgium, France

☆ Santander tops forecast as strong Europe offsets weaker US
▼ + stars: | 2023-10-25 | by ( Jesús Aguado | ) www.reuters.com time to read: +4 min

In Europe, net profit jumped 64% year-on-year in the quarter, while in South America it fell 7%. In Spain, the bank's biggest market, net profit surged almost 60%, while NII jumped 56%. In the UK, net profit rose 5.7% year-on-year in the quarter. In Brazil, its second-biggest market, net profit fell 8.9%, though NII rose 3.3%, reflecting an improvement in trends. Net profit in the United States fell 50.4% on higher funding costs in the auto business while provisions rose 49%.

Persons: Violeta Santos Moura, Ana Botin, JP Morgan, NII, Jesús, David Holmes, Mark Potter Organizations: Santander, REUTERS, Revenues, Thomson Locations: Boadilla del Monte, Madrid, Spain, MADRID, Spanish, Europe, United States, America, South America, SPAIN, BRAZIL, Portugal, Poland, Brazil

Britain's biggest mortgage lender on Wednesday reported a pre-tax profit of 1.9 billion pounds ($2.3 billion) for the three months to September 30, in line with the 1.8 billion expected by analysts in forecasts compiled by the bank. The bank's quarterly profit was up on 576 million pounds the prior year, which was restated due to accounting changes. Analysts welcomed the steady set of results, noting a bad loan charge of just 187 million pounds - versus 668 million in the same quarter a year earlier - was much lower than expected. However, Lloyds said it increased its deposits by 500 million pounds during the third quarter, reversing a trend of outflows seen by many banks this year. Deposits remained down 5 billion pounds year to date at 470 billion pounds.

Persons: Dado Ruvic, Zoe Gillespie, Banks, Iain Withers, Lawrence White, Jason Neely Organizations: Lloyds Bank, REUTERS, Lloyds Banking Group, savers, Lloyds, Barclays, RBC Brewin, Thomson

☆ Carrefour confident over year-end even as Q3 sales growth slows
▼ + stars: | 2023-10-25 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

[1/2] A customer pushes a shopping trolley as she shops in a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. Third-quarter sales reached 23.63 billion euros ($25 billion), marking like-for-like growth of 9% which was less than 10.3% growth in the second quarter, Carrefour said, adding it confirmed a cost savings target of 1 billion euros for the year. The sales growth moderation reflected a slowdown in food inflation in Carrefour's core markets of France and Brazil. In France, hypermarket sales rose 4.2% in the third quarter of 2023 compared with a 6.6% rise in the second quarter of 2023. The company said it had achieved 664 million euros out of its 800 million euros buyback programme for 2023.

Persons: Sarah Meyssonnier, Dominique Vidalon, Sudip Kar, Gupta, Mike Harrison Organizations: REUTERS, Rights, Carrefour, Thomson Locations: Carrefour, Montesson, Paris, France, Brazil

The company's third-quarter sales volumes were also up against a tough comparative period from last year, when the recall of a rival U.S.-based company's infant formula boosted sales of Reckitt's Enfamil products there. Reckitt said quarterly like-for-like net sales rose 3.4%, behind the 3.7% growth analysts had expected in a company-supplied poll. Rival consumer products makers who have raised prices over the past two years have said in recent weeks that sales volumes could soon see improvements. The price/mix for Reckitt's products, which include Nurofen tablets and Durex condoms, rose 7.5%. Volumes declined 4.1% compared with last year.

Persons: Andrew Kelly, Reckitt, Kris Licht, Bernstein, Bruno Monteyne, Richa Naidu, Jason Neely, David Evans, Helen Popper Our Organizations: Benckiser, REUTERS, Wednesday, Thomson Locations: Manhattan , New York City, U.S

☆ How Morgan Stanley exec Ted Pick rose from 'rough edged' deal junkie to CEO
▼ + stars: | 2023-10-25 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +21 min

Editor's note: Morgan Stanley announced on October 25 that Ted Pick would replace James Gorman as CEO. Employees knew they were getting promoted if Pick told them to wear a tie the following day, an ex-managing director recalled. While Morgan Stanley currently trades at a premium among its Wall Street peers, its enviable success isn't thanks to Pick. Gonzalo Marroquin/Patrick McMullan via Getty Images Show less Morgan Stanley investment management head and dark horse in the race for CEO, Dan Simkowitz. Despite enjoying the stock price gains under Gorman's reign, plenty of longtime employees want another dyed-in-the-wool Morgan Stanley loyalist, according to a former senior executive.

Persons: Morgan Stanley, Ted Pick, James Gorman, Pick, Gucci loafers, Blackstone, Tony James, Morgan, Gorman, Andy Saperstein, Dan Simkowitz, John Mack, Ted, James, Phil Purcell, Mack, Purcell, Merrill Lynch, Paul Taubman, Colm Kelleher, coheads, Gonzalo Marroquin, Patrick McMullan, Saperstein, Euromoney, Parker Gilbert, He's, John, cohead, Bolu, Goldman Sachs, Pablo, tony, Betsey Kittenplan, Smith Barney, James cochairs, Jim Breyer, Anna Wintour, John Mack pranking Pick, John Waldron, I'm, Howard Marks, Bill Parcells, atta, Brian Moynihan, aren't, David Solomon, Jamie Dimon's, Eaton Vance, he's, you've, Richard Drew, —, Hayley Cuccinello Organizations: Employees, Archegos Capital Management, Blackstone, McKinsey, Getty, Middlebury College, China Construction Bank, Harvard Business School, Mitsubishi, Wall, Autonomous Research, Anguilla, Agricultural Bank of China, Capital Management, Metropolitan Museum of Art, Vogue, New York Rangers, Oaktree Capital Management, Bloomberg, Staten, Disney, JPMorgan, Trade, AP Locations: China, Beijing, Manhattan, New York City, Caracas, Venezuela, Brookville, tony Long, hcuccinello@insider.com

☆ Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +5 min

Since our shareholders are getting Chevron stock, we get to participate in the upside, and also get a higher dividend," he said. He added that Hess shareholders who keep their shares in their combined company will see their dividend rise from $1.75 to $6 per share following the close of the deal. Exxon and Chevron are keen on these deals because they want to avoid the risk of exploring unproven reserves as oil and gas become scarcer. Exxon and Chevron had $29.5 billion and $9.3 billion in cash, respectively, as of the end of June. Keeping dividends and share buybacks strong helps compensate existing Exxon and Chevron shareholders for the dilution incurred in the all-stock acquisitions.

Persons: Hess, John Hess, Andrew Dittmar, David French, Greg Roumeliotis, Marguerita Choy Organizations: Exxon Mobil, Chevron, Exxon, Natural Resources, PDC Energy, Noble Energy, Morningstar, Anadarko, Occidental Petroleum, Thomson Locations: Ukraine, U.S, Guyana, New York

☆ Analysis: Cash-rich Exxon, Chevron use stock for mega deals amid energy market jitters
▼ + stars: | 2023-10-24 | by ( David French | ) www.reuters.com time to read: +5 min

☆ Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap and more
▼ + stars: | 2023-10-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Microsoft — Shares jumped more than 3% after the maker of Windows software and Xbox video games reported fiscal first-quarter results that topped analysts' estimates. Meanwhile, analysts had forecast EPS of $2.65 on $54.50 billion in revenue, according to LSEG, formerly known as Refinitiv. Alphabet — The Google and YouTube parent fell 5% despite beating analysts' estimates on both top and bottom lines in the third quarter. Stride reported 11 cents in earnings per share, while analysts had estimated a loss of 37 cents per share, according to FactSet. Revenue also topped estimates, coming in at $480.2 million, compared to analysts' estimates of $425.2 million.

Persons: LSEG, Evan Spiegel, Stride Organizations: Microsoft —, Microsoft, Google, YouTube, StreetAccount, Visa, Texas, Revenue, Education Locations: Israel, FactSet

☆ Barclays narrowly beats profit forecasts on strong consumer, credit card business
▼ + stars: | 2023-10-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — Barclays on Tuesday reported a net profit of £1.27 billion ($1.56 billion) for the third quarter, slightly ahead of expectations as strong results in its consumer and credit card businesses compensated for weakening investment bank revenues. Venkatakrishnan said the bank "continued to manage credit well, remained disciplined on costs and maintained a strong capital position" against a "mixed market backdrop." Barclays' corporate and investment bank (CIB) saw income decrease by 6% to £3.1 billion, with the bank citing reduced client activity in global markets and investment banking fees. The bank did not announce any new returns of capital to shareholders after July's £750 million share buyback announcement. The cost-income ratio in the third quarter was 63%, but the bank has set a medium-term target of below 60%.

Persons: Venkatakrishnan Organizations: LONDON, Barclays, Reuters, C.S, Barclays U.K, Q423 Locations: London

☆ What the return of China's high rollers to Macao means for Wynn Resorts
▼ + stars: | 2023-10-19 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. In gambling hub Macao, China — where Club holding Wynn Resorts (WYNN) also operates — LVS' EBITDA was up $90 million sequentially, with improved margins. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome Powell, EBITDA, Craig Jelinek, Ron Vachris, Varchis, Jelinek, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Investors, Federal, West Texas, Wynn Resorts, WYNN, Wynn, Club, Costco Wholesale, Costco – Locations: Macao, China

☆ What tie-ups in the U.S. oil patch could mean for players like Coterra Energy
▼ + stars: | 2023-10-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

While we don't own companies as mergers-and-acquisition plays, the potential for more tie-ups could have significant implications for our remaining oil name: Coterra Energy (CTRA). Chevron's market cap is around $324 billion, while ConocoPhillips is worth roughly $152 billion, based on Thursday's stock prices. Companies in this basket could include Coterra, Devon Energy (DVN) and Diamondback Energy (FANG). Coterra is valued at roughly $22.4 billion Thursday, while Devon and Diamondback are valued at $31.7 billion and $30.5 billion, respectively. The shift has generally been positive for the stock prices of oil companies.

Persons: Gabriele Sorbara, Siebert Williams Shank, Nitin Kumar, I'm, Kumar, Pioneer's, Devon, Paul Cheng, Cheng, Jim Cramer's, Mizuho's Kumar, Jim Cramer, Jim, Paul Ratje Organizations: Exxon Mobil, Natural Resources, Coterra Energy, Exxon, Co, Chevron, ConocoPhillips, Mizuho Securities, Companies, Devon Energy, Diamondback Energy, Marathon, Bloomberg, Scotiabank, Pioneer, Jim Cramer's Charitable Trust, CNBC, Afp, Getty Locations: U.S, West Texas, New Mexico, Coterra, Devon, Oklahoma, Houston

☆ Whitbread's profits jump as Premier Inn-owner enjoys steady demand
▼ + stars: | 2023-10-18 | by ( Eva Mathews | ) www.reuters.com time to read: +2 min

Shares in the British company, originally a brewer, were up 3.5% to 3,437 pence by 0737 GMT to lead London's blue-chip (.FTSE) index. Leisure and business demand are showing signs of staying, Paul said, adding forward-booked revenue was ahead of last year. Whitbread, which owns restaurant chains such as Bar+Block Steakhouse and Brewers Fayre has also seen signs of food inflation easing. The company announced a further 300 million pound share buyback on Wednesday and proposed an interim dividend per share of 34.1 pence, up 40% on last year. ($1 = 0.8193 pounds)Reporting by Eva Mathews in Bengaluru; editing by Subhranshu Sahu and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Lee Smith, WTB.L, Dominic Paul, Paul, Whitbread, Hargreaves, Derren Nathan, Brewers Fayre, Eva Mathews, Subhranshu Sahu, Jason Neely Organizations: Premier Inn Hotel, Brewers, REUTERS, H1, Whitbread, Inn, Thomson Locations: Durham, County Durham, Britain, British, Germany, Bengaluru

☆ Key takeaways from the IMF/World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +5 min

Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.

Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S

☆ Key takeaways from the IMF-World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.cnbc.com time to read: +4 min

U.S. Secretary of Treasury Janet Yellen arrives for a bilateral meeting on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023. Susana Vera | ReutersOvershadowed by fresh Middle East violence and hosted by a country still recovering from an earthquake, the week-long annual meetings of the International Monetary Fund and World Bank wrapped up on Saturday. Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer-term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France.

Persons: Janet Yellen, Susana Vera, Pierre, Olivier Gourinchas, Italy —, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen Organizations: International Monetary Fund, Bank, Reuters, Emerging, Research, HSBC, Export, Import Bank of Locations: Marrakech, Morocco, Moroccan, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China

"We would like to start as quickly as possible," he said of the buyback. Exceptional access would allow Kenya to ask for more than its limit of IMF funding. As of Oct. 5, the central bank said it had $6.9 billion in usable foreign exchange reserves, enough to cover around 3.7 months' worth of imports. The central bank held its main interest rate (KECBIR=ECI) at 10.5% on Oct. 3. Despite Kenya's debt pressures, the economy is set to grow 5.5% this year and around 6% in 2024, Thugge said, above the IMF forecasts for Sub-Saharan Africa of 3.3% and 4% respectively.

Persons: Kamau Thugge, Thugge, Rachel Savage, Jorgelina, Duncan Miriri, Karin Strohecker, Elisa Martinuzzi, Jan Harvey Organizations: Reuters, Trade, Development Bank, African Export, Import Bank, World Bank, International Monetary Fund, Thomson Locations: MARRAKECH, Morocco, Kenya, Marrakech, Saharan Africa, Rosario, Nairobi

☆ India's TCS skids on demand recovery worries after Q2 revenue miss
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

[1/2] Figurines with computers and smartphones are seen in front of Tata Consultancy Services logo in this illustration, July 24, 2022. The poor results and commentary from India's largest IT services provider took the shine off TCS' $2 billion share buyback announcement, and also slammed shares of peers. TCS' revenue rose 7.9% to 596.92 billion rupees ($7.18 billion) in the September quarter, it said after market hours on Wednesday, but fell short of the analysts' estimates of 602.44 billion rupees. In the post-earnings press conference, TCS also hinted that there was no clear picture of when discretionary spends will return. TCS shares are currently down 1.5%, bringing year-to-date gains to 11.4%, compared with the IT index's 13% rise this year.

Persons: Dado Ruvic, Jefferies, Nomura, Ashna Teresa Britto, Janane Organizations: Tata Consultancy Services, REUTERS, Rights, India's Tata Consultancy Services, Infosys, TCS, Thomson

☆ India's TCS reports marginal Q2 profit beat, approves $2 bln share buyback
▼ + stars: | 2023-10-11 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

Figurines with computers and smartphones are seen in front of Tata Consultanct Services logo in this illustration, July 24, 2022. The company also approved share buyback worth 170 billion Indian rupees ($2.04 billion). Net profit rose 8.7% to 113.42 billion Indian rupees ($1.36 billion) in the three months ended Sept. 30 from 104.31 billion rupees a year earlier. Analysts, on average, had expected a profit of 113.17 billion rupees, according to LSEG data. TCS said its order book for the July-September period stood at $11.2 billion - higher than the $8.1 billion worth of deals it signed a year ago.

Persons: Dado Ruvic, Janane Organizations: Tata Consultanct Services, REUTERS, Rights, Tata Consultancy Services, TCS, Sethuraman NR, Thomson Locations: U.S, Europe, Bengaluru

☆ Here's a rapid-fire update on all 36 stocks in our portfolio, including our latest addition
▼ + stars: | 2023-10-11 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

Here's a rapid-fire update on all stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. After reducing expenses to improve margins on its retail business, Jim said it's on the right track. Costco Wholesale (COST): Costco remains one of Jim's favorite stocks in the entire our entire portfolio. Ford Motor (F): Jim expressed confidence in Ford CEO Jim Farley, as the targeted United Auto Workers strike approaches the one-month mark. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, there's, it's, Bausch, we're, We've, Coterra, Dupont, We're, Nelson Peltz, Peltz, Estee Lauder, Patience, Fabrizio Freda, Emerson, Jim Farley, Ford, Locker, Mary Dillon, GEHC, Vimal Kapur, Bruce Broussard, Broussard, he's, Eli Lilly, Lilly, Mark Zuckerberg, Morgan Stanley, Morgan Stanley's, James Gorman, Laxman Narasimhan, Elliott, Stanley Black, Decker, Piper, Wells Fargo, Wells, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Federal Trade, Broadcom, VMWare, Bausch Health, Caterpillar, Costco Wholesale, Costco, Coterra Energy, Exxon Mobil, Natural Resources, Disney, ESPN, Hulu, Comcast, Emerson, National Instruments, Ford, United Auto Workers, Nike, GE Healthcare, Electric, GE, Honeywell International, Honeywell, Humana, Linde, LIN, Microsoft, Nvidia, Oracle, Alto Networks, cyberattacks, Palo Alto Networks, Procter & Gamble, Pioneer, Exxon, Constellation Brands, Elliott Management, FactSet, TJX, Marshalls, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: China, U.S, Maxx, Las Vegas, Boston, Macau, Asia

☆ Stocks like Microsoft have more room to run, as analysts name their top fourth-quarter picks
▼ + stars: | 2023-10-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Wall Street analysts have issued their lists of top stocks for the fourth quarter, and a slate of familiar names made the cut. These companies are firing on all cylinders and have more room to run, they said. They include Nvidia , Microsoft, Boeing and T-Mobile. Microsoft Buy any dip in the tech giant's shares, Wells Fargo said earlier this week. In addition, Boeing is in a "premier position" with its jumbo jet manufacturing as the company maintains a large market share, the firm said.

Persons: Wells Fargo, Michael Turrin, ROY, Wells, Mobile Goldman Sachs, Brett Feldman, Feldman, Goldman, Ronald Epstein, AeroSystems, Epstein, Grace, Hopper, C27E, …, Goldman Sachs Organizations: CNBC, Nvidia, Microsoft, Boeing, Mobile, Sprint, Boeing Global, Bank of America, Mizuho, ~$

☆ Hipgnosis shareholders preparing to block to music rights deal - FT
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] A headset is seen in front of displayed Hipgnosis logo in this illustration taken, June 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsOct 6 (Reuters) - Major shareholders in music investor Hipgnosis Songs Fund (SONG.L) are preparing to block the sale of a rights portfolio worth $440 million to a private fund owned by Blackstone, the Financial Times reported on Friday. Hipgnosis had said the deal would help fund a share buyback, pay down debt and bolster its stock price. One of the top 10 investors in the company said that the price being offered by Blackstone was not high enough, according to the FT report. Reporting by Eva Mathews in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Hipgnosis, Shakira, Nelly, Blackstone, Eva Mathews, Saumyadeb Organizations: REUTERS, Blackstone, Financial Times, U.S, Thomson Locations: Bengaluru

☆ Jim Cramer sees a major catalyst ahead for Corona maker Constellation Brands stock
▼ + stars: | 2023-10-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +2 min

A potentially significant catalyst for Constellation Brands (STZ) stock is just a few weeks away, CNBC's Jim Cramer said Friday. "Elliott obviously… wants their stock higher," Cramer said on "Squawk on the Street." Elliott has "the ability to suggest things including perhaps maybe getting rid of some of the disappointing spirits business," said Cramer. The beer portfolio led by Modelo saw 11.8% year-over-year sales growth, while its wine-and-spirits division saw a 14% drop in revenue on an annual basis. The wine-and-spirits division has been a known weak spot for some time now, and Cramer has been advocating that Constellation sell it.

Persons: CNBC's Jim Cramer, Elliott, Cramer, Jim Cramer's Organizations: Modelo, Corona, Elliott Management, Constellation, CNBC, Constellation Brands, The Locations: U.S

☆ Watch CNBC's full interview with Dell CEO Michael Dell
▼ + stars: | 2023-10-06 | 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 EmailWatch CNBC's full interview with Dell CEO Michael DellMichael Dell, Dell Technologies chairman and CEO, joins 'Squawk Box' to discuss the state of the company, after the computing giant announced an expansion of its stock buyback plan and a boost to its profit outlook, the impact of A.I. on business across the spectrum, growth outlook, and more.

Persons: Michael Dell Michael Dell Organizations: Dell, Dell Technologies

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