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☆ SAP Invests in Singapore to boost business AI adoption
▼ + stars: | 2024-10-03 | by ( ) www.cnbc.com time to read: 1 min

SAP's Asia Pacific and Japan President Paul Marriot talked about the company's S$12 million investment in Singapore's Digital Innovation Accelerator and the next stage of AI applications

Persons: Paul Marriot Organizations: SAP's Asia, Japan Locations: SAP's Asia Pacific

☆ Hong Kong's New World Development shares surge 23% after CEO resigns
▼ + stars: | 2024-09-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Signage at the New World Tower, which houses the headquarters of New World Development Co., in Hong Kong, China, on Thursday, Sept. 26, 2024. New World Developmen suspended trading of its shares in Hong Kong on Thursday morning. Shares of Hong Kong's New World Development surged following the resignation of Adrian Cheng, a member of the founding family. Hong Kong listed shares of the major development company traded 23% higher after trading resumed on Friday. New World's woes come as property pains continue to plague Hong Kong and mainland China.

Persons: Adrian Cheng, Cheng, Eric Ma Siu, Cheung, Alicia Garcia, Herrero, Hong Kong tycoons, China's Organizations: New, Hong, HK, Asia Pacific, CNBC, China's Locations: Hong Kong, China, Natixis, tycoons, Asia

☆ Gold touches record high on rate-cut bets, weaker U.S. dollar
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bars sit in a vault at the Perth Mint Refinery, operated by Gold Corp, in Perth, Australia, on August 9, 2018. Gold hit a record high on Wednesday, boosted by a softer U.S. dollar and hopes of more interest rate cuts, while investors looked for new signals for the Federal Reserve's interest rate trajectory. Spot gold was steady at $2,658.08 per ounce, as of 0557 GMT, after hitting an all-time high of $2,670.43 earlier. On Tuesday, China announced a slew of support measures including outsized rate cuts, after the U.S. Fed cut rates by 50 basis points last week. Inflows to gold exchange-traded funds, particularly from Western investors, will rise in the coming months, providing further support for record-high bullion prices, analysts said.

Persons: Gold, Kelvin Wong, OANDA's, Wong, Michelle Bowman, Jerome Powell's, heightening Organizations: Perth Mint Refinery, Gold Corp, U.S, Fed, Asia Pacific, Traders Locations: Perth, Australia, China, Beirut

SHENZHEN, China — Chinese vendor Yin Xinwei sometimes makes close to $1,400 a day selling low-priced pill boxes, barbecue spits and other items to U.S. online consumers. Each year hundreds of millions of packages, mostly from Chinese platforms, are sent directly to American consumers eager to take advantage of rock-bottom prices on clothing, electronics and other products. That could mean painful times ahead for the Chinese sellers that supply the platforms — and higher prices for American consumers. Chinese state media has criticized the proposal as protectionist and say it will hurt American consumers. Yin used to sell to Chinese consumers but has given up his domestic business to focus entirely on the overseas market.

Persons: Yin, ”, ” Yin, David Townsend, Dorsey, Trump, Biden, ” Townsend, Temu, “, Jacky Lu, Shein, Eunice Yoon, Jennifer Jett Organizations: CNBC, Whitney, PDD Holdings, White, U.S . Customs, U.S Locations: SHENZHEN, China, Shenzhen, United States, U.S, Singapore, Boston, Hong Kong, Europe, “

☆ Amazon's Bedrock success prompts a surprising question: Do you need a top model to win in AI?
▼ + stars: | 2024-09-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewSo far, the generative AI race has been about who can build the most powerful models. Almost two years later, there are so many powerful AI models out there, it's no longer that special. Advertisement'Important but not critical'AWS CEO Matt Garman appears to be fine not having a fancy, home-grown AI model. "It'll be important but not critical," Garman said when asked about the importance of offering a top-performing first-party AI model. AGI teamThis doesn't mean Amazon has given up on building its own powerful AI model.

Persons: —, Claude, Meta's, Matt Murphy, Anthropic, Murphy, ChatGPT, Patrick Neighorn, Amazon's, Andy Jassy, Matt Garman, Garman, Matt McIlwain, Brent Thill, Jefferies, Thill Organizations: Service, Google, Business, Microsoft, OpenAI, Gemini, Menlo Ventures, AWS, Intuit, Toyota, New York Stock Exchange, BI, Asia, Madrona Venture Group, Amazon Locations: Europe, Middle East, Africa, Asia Pacific, Japan, North America

BEIJING — Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country. The iPhone 16 Pro Max starts at $1,199, and the iPhone 16 at $799. Huawei’s trifold Mate XT starts at the equivalent of more than $2,800. The Apple iPhone 16 Pro Max was selling for 10,500 yuan to 16,300 yuan, the site showed. He said he bought the iPhone 16 because he heard its battery lasted longer, but was willing to wait for the iPhone 17 for any artificial intelligence features.

Persons: pricier, Max, Huawei’s, Yang, Wang, hadn’t Organizations: CNBC, XT, Huawei, Apple, People, Mate Locations: BEIJING, China, . U.S, Beijing, Hefei, Shanghai

☆ Japan's Nikkei leads gains in Asia Pacific after Wall Street soars on Fed's jumbo rate cut
▼ + stars: | 2024-09-20 | by ( Anniek Bao | In | ) www.cnbc.com time to read: 1 min

A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016. Asia-Pacific markets opened higher on Friday with Japan's Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve's outsized rate cut. Japan's core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the previous month. The reading will be the last gauge of the economy before the BOJ concludes its two-day monetary policy meeting, where it's expected to keep interest rates unchanged at 0.25%. The Japanese yen was nearly flat at 142.67.

Persons: PBOC Organizations: Japan's Nikkei Locations: Tokyo, Japan, Asia, Pacific

☆ Gold holds ground after Fed's oversized rate cut
▼ + stars: | 2024-09-19 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices held steady on Thursday after hitting a record high in the previous session, after the U.S. Federal Reserve delivered a super-sized interest rate cut. Spot gold was little changed at $2,562.85 per ounce, as of 0319 GMT after scaling a record high of $2,599.92 on Wednesday. Powell, however, said the economy remained strong, with many job market indicators like unemployment claims and even the current 4.2% unemployment rate not at worrying levels. Zero-yield bullion tends to be a preferred investment in a lower interest rate environment and during geopolitical turmoil.

Persons: Jerome Powell, Powell, Kelvin Wong, OANDA's Organizations: Aurum, U.S . Federal Reserve, Fed, Asia, Traders Locations: ., Lebanon

☆ Lenovo executive: India is a hub for our global business
▼ + stars: | 2024-09-18 | 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 EmailLenovo executive: India is a hub for our global businessAmar Babu, President, Asia Pacific at Lenovo talks about its business in India and the company's AI strategy.

Persons: Amar Babu Organizations: Lenovo, India, Asia Pacific Locations: Asia, India

☆ Big names like David Tepper and 'Big Short' investor Michael Burry are quietly upping their bets on the Chinese economy
▼ + stars: | 2024-09-17 | by ( Zahra Tayeb | ) www.cnbc.com time to read: +5 min

From property woes to sluggish economic data, China appears to be suffering from long Covid. Wall Street turns bullishBillionaire investors, including Appaloosa Management founder David Tepper and "Big Short" investor Michael Burry, recently revealed they are sticking to their China bets. The famed investor loaded up on Alibaba stock in the second quarter, revealing an $11.2 million position in the company. That makes Alibaba Burry's largest holding, with other Chinese tech stocks including Baidu and JD.com also featuring on Burry's portfolio. Meanwhile, BCA Research recently upgraded Chinese onshore stocks to overweight, with China strategist Jing Sima expecting Chinese onshore stocks to passively outperform global equities.

Persons: Jiang Sheng, It's, Ted Alexander, CNBC's, David Tepper, Michael Burry, Alibaba, Tepper, Burry, JD.com, Jing Sima, George Boubouras, Goldman Sachs, Song Zhiyong, Eric Lin Organizations: Visual China, Getty, Appaloosa Management, KE Holdings, Baidu, BCA Research, K2 Asset Management, CNBC, Bank of America, National Bureau of Statistics, China's Ministry of Transport, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, Paris Olympic Games, Greater, Greater China Research, UBS Locations: China, Beijing, Wall, Japan, South Korea, Singapore, Europe, Greater China

☆ EY's Choi: China consumer sector a favorite for PE and VC firms
▼ + stars: | 2024-09-17 | 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 EmailEY's Choi: China consumer sector a favorite for PE and VC firmsRingo Choi, Asia Pacific IPO lasiaeader at EY, discusses Midea's secondary listing in Hong Kong and the opportunities in China's consumer sector.

Persons: EY's Choi, Ringo Choi Locations: China, Asia Pacific, EY, Hong Kong

☆ This 32-year-old cashed out on over $2 million in startup equity—here are five tips on how to negotiate for more shares
▼ + stars: | 2024-09-13 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +6 min

Over the course of about 10 years at the company, Vashi worked his way up from an entry-level consultant role to vice president. It all paid off in June 2022, when Anaplan was acquired by private equity company Thoma Bravo at a roughly $10.4 billion valuation. Here are five tips on how to negotiate for more equity at work, according to Vashi:1. "The best way to secure equity compensation is to make yourself extremely important to the company," he said. When it comes to employees, it is "all based on [their] contributions, either actual contributions or expected contributions," Vashi said.

Persons: Bhavik Vashi, Vashi, Anaplan, Thoma, they've Organizations: University of California, CNBC, Thoma Bravo, Asia Pacific, Carta, Employees Locations: Valley, Berkeley, Silicon Valley, Middle East

☆ Alibaba’s Taobao shopping app launches AI-powered English version in Singapore, jumps to first place in Apple’s App Store
▼ + stars: | 2024-09-13 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +3 min

In this article BABA Follow your favorite stocks CREATE FREE ACCOUNTThe logo of Alibaba's e-commerce app Taobao is displayed next to mobile phones displaying the app, in this illustration picture taken October 25, 2023. Reuters | Florence LoSingapore — Chinese e-commerce giant Alibaba 's Taobao shopping app topped the Apple App Store charts in Singapore after releasing an English version on Tuesday — thanks to translations powered by artificial intelligence. That's according to Sensor Tower, a market intelligence firm whose data shows Taobao shot to first place in Apple's Singapore App Store across all categories, as of Sept. 11. As early as last year, Singaporean Taobao users had previously made guides on how to purchase clothes, furniture and lifestyle items from Taobao. These video guides were posted on the ByteDance-owned TikTok platform, another Chinese app.

Persons: Florence Lo, Alibaba, Bain, David Zehner Organizations: Reuters, Company, Asia, South Korean, Bain, CNBC Locations: Florence, Florence Lo Singapore, Singapore, Apple's Singapore, China, AliExpress, Malaysia, Asia Pacific, Singapore's

☆ Gold inches higher as investors eye U.S. data for rate cues
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Gold prices edged higher on Thursday, with traders focusing on the upcoming U.S. economic data that may offer further insights into an expected reduction in the Federal Reserve's interest rate next week. Data on Wednesday showed that U.S. consumer prices rose marginally in August, but underlying inflation showed some stickiness, which could discourage the Federal Reserve from delivering a half-point interest rate cut next week. CPI data showed no major inflation spikes, which is supporting gold prices to hold above $2,500 and suggesting no immediate changes to Fed policy, Wong added. Palladium climbed 1.3% to $1,021.84, its highest since July 8, following comments on export regulations from Russian President Vladimir Putin.

Persons: Kelvin Wong, OANDA's, Price, Wong, Vladimir Putin, Putin Organizations: Asia Pacific, Traders, U.S, PPI, Reserve, West Locations: U.S, Moscow

☆ Investors are 'dramatically overestimating' an oil glut, Carlyle's Jeff Currie says
▼ + stars: | 2024-09-10 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

SINGAPORE — Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle. China's crude oil imports in 2023 had notched a record high. China's oil demand has been declining on the back of a slump in industrial inputs, according the International Energy Agency. On the supply side, black oil production in the U.S., one of the world's top crude oil producers, has been "flat" this year, Currie said. Black oils include crude oil, fuel oil, furnace oil, asphalt and tar.

Persons: Currie, Jeff Currie, Carlyle, I've, Energean Organizations: Asia Pacific Petroleum Conference, SINGAPORE —, International Energy Agency, Reuters Locations: Stanton , Texas, Singapore, SINGAPORE, APPEC, U.S, Egypt, Italy, Croatia

☆ China's wealthy are increasingly looking overseas for business investment opportunities
▼ + stars: | 2024-09-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Instead of high-net-worth individuals, C-suite executives in China are increasingly using business jets, said Paul Desgrosseilliers, general manager at ExecuJet Haite General Aviation Services. ExecuJet HaiteBEIJING — China's wealthy are increasingly looking for ways to move capital outside the mainland to pursue business opportunities, rather than just chasing investment returns, according to asset managers and consultants. The company's active overseas clients rose by nearly 63% year on year to 3,244. Overseas assets under management rose nearly 15% to $5.4 billion from a year earlier, while mainland China assets under management fell over 6% to $15.8 billion, according to Noah's quarterly earnings report. "What we are hearing from them is that the fastest growth in terms of interest from Chinese clients [occurred] in the post-Covid [period to] early last year."

Persons: Paul Desgrosseilliers, ExecuJet, there's, Ryota Kadogaki, Grant Pan, Noah Holdings, Noah, Kadogaki, Mu Chen, That's, Pan, ExecuJet Haite Organizations: General Aviation Services, Beijing Daxing, Monolith, Investors, Ministry of Commerce, CNBC, Noah Holdings, Beijing Daxing International Locations: China, Beijing, BEIJING, Japan, Mainland China, Singapore, Hong Kong, Southeast Asia, East, Africa, Asia Pacific

☆ Honor steps up challenge to Samsung with launch of thin foldable phone
▼ + stars: | 2024-09-05 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Honor launched the Magic V3 foldable smartphone in international markets as it steps up its challenge to Samsung. With the Honor Magic V3, Honor talked up how thin the device is compared to rivals. Honor launched the Magic V3, its latest foldable smartphone, in international markets on Thursday as the Chinese tech company ramps up its challenge to Samsung in the fast-growing market. Global foldable smartphone shipments grew 48% year-on-year in the second quarter of 2024, Counterpoint Research data shows. Competition in the space continues to rise with Google last month launching its latest foldable phone.

Persons: Honor's Organizations: Samsung, Google, Research, Competition, Huawei Locations: China, Europe, Asia, India, South Korea, America, Western Europe, France, Germany, Italy, Spain, East, Asia Pacific, Africa

☆ I moved from the UK to Australia after a divorce and extreme burnout. I'm unbelievably happy with my life change.
▼ + stars: | 2024-09-04 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Read previewThis as-told-to essay is based on a conversation with Ruth Faulkner, a 34-year-old digital nomad based in Australia. I have very close friends in Australia, so I decided to move there to be with them in January. There are some cultural differences between the UK and Australia, but they've mostly felt minor. I'm unbelievably happy with my life changeI feel like I've embraced and accepted myself instead of trying to fit into a box. With the time difference, cost, and time required for travel, Australia can feel far away from everything, but so far, my life here outweighs this.

Persons: —, Ruth Faulkner, It's, couldn't, I've, what's Organizations: Service, Accenture, Business Locations: Australia, Adelaide, South Australia, London, Isle of Wight, Port Noarlunga, France, Europe, Bali, Asia Pacific

☆ China expects air travel to hit a record in 2024
▼ + stars: | 2024-08-14 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +1 min

China is expected to see a record-level of passenger air travel in 2024, according to the Civil Aviation Administration of China. China is expecting air passenger travel to hit a record in 2024, bouncing past pre-pandemic levels. In the first half of this year, total passenger trips rose nine percent from the same period in 2019, the State Council added, signaling that China's air travel sector has rebounded from the pandemic. The country's projection for 2024 comes in higher than the 619.6 million air passenger trips seen in 2023, according to data released in June by Chinese officials. Meanwhile, the broader Asia-Pacific region's travel sector has seen growth this year thanks to Chinese tourists.

Persons: Zhiyong Organizations: Civil Aviation Administration of, Civil Aviation Administration, Asia Pacific Summit for Aviation Safety, State, Council, Paris Olympic Games Locations: China, Civil Aviation Administration of China, Japan, South Korea, Singapore, Europe, Asia, Pacific

☆ Goldman Sachs names the Japanese stocks to buy right now — and gives 2 over 50% upside
▼ + stars: | 2024-08-12 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +3 min

In a note on Aug. 7, Goldman's analysts revealed a number of top picks, including three buy-rated Japanese stocks with over 40% upside potential over the next 12 months. Year-to-date, Asics shares are up 99.5%. Goldman has a target price of 3,100 Japanese Yen ($21.07) on the stock, giving it around 50% upside potential at the time of the note. Goldman has a target price of 6,900 Japanese Yen on the stock, or 37% potential upside. Goldman has a target price of 4,850 Japanese Yen on the stock, giving it around 54% upside potential at the time of the bank's note.

Persons: Goldman Sachs, U.S . Asics Corporation Goldman, Sho Kawano, Asics, Goldman, Suntory Beverage & Food Goldman, Takashi Miyazaki, Miyazaki, Ryo Harada, — CNBC's Michael Bloom Organizations: Nikkei, Tokyo Stock Exchange, U.S . Asics Corporation, Asics Corp, Suntory Beverage & Food, Asia Pacific, Suntory, Yen, Hitachi Locations: U.S, Japan, Europe, Asia

☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Airbnb shares drop 14% on earnings miss as company warns of slowing U.S. demand
▼ + stars: | 2024-08-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Airbnb CEO and co-founder Brian Chesky speaks at The Fast Company Innovation Festival on September 21, 2022, in New York. Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it's seeing signs of slowing demand from U.S. customers. Here's how the company did compared to LSEG estimates for the quarter ended June 30:Earnings per share: $0.86 versus $0.92 expected. Revenue: $2.75 billion versus $2.74 billion expected. It also cautioned that it was "seeing shorter booking lead times globally and some signs of slowing demand from U.S.

Persons: Brian Chesky, Airbnb Organizations: Revenue, Asia Pacific, Federal Reserve Locations: New York, Latin America

☆ 'Internal battle' in Modi's BJP on whether India needs Chinese investments, Natixis chief Asia economist says
▼ + stars: | 2024-08-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +5 min

Supporters of Bharatiya Janata Party (BJP) hold party flags as they celebrate Narendra Modi's swearing-in ceremony on June 9, 2024. Sopa Images | Lightrocket | Getty ImagesThere is an "internal battle" happening within India's ruling Bharatiya Janata Party over inviting Chinese investments, as the country strives to become Asia's manufacturing powerhouse, Alicia Garcia-Herrero, chief Asia Pacific economist at Natixis said. This proposal was shot down by Trade Minister Piyush Goyal on Tuesday who said that there was "no rethinking at present" on allowing Chinese investments into India, Reuters reported. Experts told CNBC that Chinese investments are needed in India's solar panel and battery manufacturing sectors — two areas that a report, citing Indian government sources last week, mentioned could see easing restrictions on Chinese investments. India increased scrutiny on Chinese investments into the country, and also blocked several Chinese mobile apps including TikTok following the incident.

Persons: Narendra Modi's, Alicia Garcia, Herrero, Natixis, V Anantha, Piyush Goyal, Modi, Garcia, Rajesh Kumar Singh, Harsh, Pant, Tauseef Mustafa, Jaishankar, Punit Paranjpe Organizations: Bharatiya Janata Party, BJP, Asia, Trade, Reuters, CNBC, Department, Promotion of Industry, Internal, Bloomberg, ICT, Communication Technologies, New Delhi's Observer Research Foundation, Afp, Getty, India's Foreign, Adani Locations: Asia Pacific, China, India, Europe, loggerheads, Eastern Ladakh, Tokyo, U.S, Mundra

☆ DuPont's recovery gains speed with another catalyst for the stock still looming
▼ + stars: | 2024-07-31 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

DuPont's water and protection segment may have seen a year-over-year decline in sales, but what matters most is that revenue was up 8% sequentially. Notably, DuPont's Water Solutions and Tyvek medical packaging businesses in China — an economy that's lately been a thorn in the side of so many companies — helped drive the quarter-over-quarter expansion. While there's been speculation that DuPont's water business is attracting interest from peers, management said the company has not had conversations about an outright sale. The range for operating EBITDA was raised to $3.06 billion to $3.11 billion, up from $2.9 billion to $3.05 billion previously. DuPont's third-quarter guidance of roughly $3.2 billion in sales, $815 million in operating EBITDA and adjusted EPS of $1.03 essentially matched expectations.

Persons: FactSet, EBITDA, DuPont's, Jim Cramer, —, It's, Ed Breen, Breen, DuPont, there's, Jim Cramer's, Jim, Jim Graham Organizations: DuPont, PPG Industries, Club, Devices, Solutions, Federal Reserve, Wall, Electronics, Semi Tech, CNBC, Bloomberg, Getty Locations: China, Asia Pacific

☆ Our Mexican beer powerhouse is down on a rival's troubles — so we're buying the dip
▼ + stars: | 2024-07-29 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

We're buying 50 shares of Constellation Brands at roughly $246 each. Following Monday's trade, Jim Cramer's Charitable Trust will own 375 shares of STZ, increasing its weighting in the portfolio to 2.8% from 2.46%. Shares of Mexican beer maker Constellation Brands were down 3% on Monday after Heineken reported weaker-than-expected earnings. We're also upgrading Constellation stock back to our buy-equivalent 1 rating . 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, Heineken, Bill Newlands, Newlands, Heineken doesn't, Jim Cramer, Jim Organizations: Constellation Brands, STZ, Heineken, Constellation, Asia Pacific, CNBC Locations: China, Modela, Europe, Americas, Asia Pacific, Africa, Middle, United States

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