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Target – Shares plunged more than 17% after the Minneapolis-based retailer missed third-quarter earnings and revenue estimates and slashed its full-year guidance, just three months after raising that forecast. Delta Air Lines – The Atanta-based carrier fell more than 1% after reiterating its outlook for the fourth quarter . Nio – U.S. shares fell more than 2% after the Chinese electric vehicle maker posted lower-than-expected revenue for the third quarter. Dolby earned 61 cents per share in its fiscal fourth quarter, above analysts' estimated 45 cents per share, according to FactSet. Powell Industries – Shares of the electrical equipment company fell 13% after new orders in the fiscal fourth quarter fell to $267 million from $356 million in the third quarter.
Persons: NBCUniversal, Brian Roberts, Goldman Sachs, Morgan Stanley, Nio, Dolby, Robinhood, Needham, Keysight, Piper Sandler, Mike Tyson, Jake Paul, , Alex Harring, Jesse Pound, Pia Singh, Sarah Min Organizations: , Comcast, CNBC, MSNBC, Delta Air Lines, Delta, FactSet, Dolby, Technologies, Powell, BDO, Nasdaq, Netflix Locations: Minneapolis, Nio –
Williams-Sonoma earned $1.96 per share on $1.80 billion in revenue, while analysts surveyed by LSEG had anticipated just $1.78 in earnings per share and $1.79 billion in revenue. Target — Shares plunged more than 21% after the big-box retailer disappointed on third-quarter earnings and revenue estimates and cut its full-year guidance, just three months after raising that forecast. Target reported only a slight uptick in customer traffic as CEO Brian Cornell noted "lingering softness in discretionary categories." That is better than the $1.57 in earnings per share that analysts were expecting, per FactSet. Dolby earned 61 cents per share in its fiscal fourth quarter, higher than analysts' forecast of 45 cents per share, according to FactSet.
Persons: LSEG, Ford, Piper Sandler, Brian Cornell, Robinhood, Needham, Morgan Stanley, Keysight, Dolby, , Alex Harring, Brian Evans, Sean Conlon, Yun Li, Michelle Fox Organizations: Sonoma, Ford, U.S, Nvidia, LSEG, , Air Lines, Delta, Super Micro, BDO, Nasdaq, Dolby, Wall, Qualcomm Locations: Robinhood
Don't sweat the drop in Palo Alto Networks stock, which came despite a solid beat and raise after Wednesday's closing bell. Bottom line Palo Alto Networks is off to a strong start to its fiscal year 2025. Palo Alto Networks passed through the fiscal first-quarter earnings beat into its full-year fiscal 2025 outlook. NGS ARR includes revenue for Palo Alto Network's Prisma, Cortex, QRadar, and certain cloud-delivered security services. Nikesh Arora, Chairman and CEO of Palo Alto Networks, speaking at the TEC Summit on October 29, 2019 in New York City.
Persons: Platformization, We're, Palo, Nikesh Arora, Arora, Jim Cramer, SASE, billings, Jim Cramer's, Jim, Astrid Stawiarz Organizations: Palo Alto Networks, Palo, LSEG, Palo Alto, Alto Networks, Cisco Systems, cybersecurity, Street, Management, CNBC, TEC Summit Locations: Palo, platformization, Palo Alto, New York City
Japan's exports posted a 3.1% rise in October compared to a year ago, rebounding from a fall in September that marked a 43-month low. The climb beat expectations of a 2.2% rise from economists polled by Reuters, and is a reversal from the 1.7% fall in September. Government data showed that Japanese exports increased the most to the Middle East region, recording a 35.4% rise, compared to the same period a year ago. He added: "Any escalation of tensions between the U.S. and China on tariffs and trade is likely to weigh upon global trade and global growth. Japan, as an open and cyclical economy, will be impacted by any deterioration in global trade and the global economy."
Persons: September's, Daniel Hurley, Rowe Price, Donald Trump's Organizations: Reuters, U.S, Trump Locations: Yokohama, Japan, East, China
China's central bank on Wednesday kept major benchmark lending rates unchanged, as Beijing assesses the effects of its recent stimulus measures. The People's Bank of China said it would keep the 1-year loan prime rate at 3.1%, and the 5-year LPR at 3.6%. The 1-year LPR affects corporate and most household loans in China, while the 5-year LPR acts as a benchmark for mortgage rates. Only retail sales beat expectations, with a 4.8% year-on-year increase, indicating that recent stimulus had started seeping into certain sectors of the economy. Goldman, however, maintained "overweight" stance on China equities, forecasting a 13% upside to the benchmark CSI 300 index next year.
Persons: Bruce Pang, Pang, Pan Gongsheng, Morgan Stanley, Goldman Sachs, Goldman, Donald Trump's Organizations: People's Bank of China, People's Bank of, Reuters, Ministry of Finance Locations: Beijing, China's, People's Bank of China, China, JLL
LOS ANGELES — Erik and Lyle Menendez’s bid for freedom hit another possible roadblock this week as California Gov. Gavin Newsom said that he will not review their clemency request until after the incoming Los Angeles County district attorney makes a resentencing recommendation. Nathan Hochman is set to take office Dec. 2 after his win earlier this month over District Attorney George Gascón, who has supported Menendez resentencing and urged clemency. A hearing is scheduled before a judge on Dec. 11Nathan Hochman on Oct. 10 in Los Angeles. Michael Blackshire / Los Angeles Times via Getty Images fileBut the incoming DA said he needs to review the case, including transcripts from two trials and prison disciplinary records, before making a recommendation.
Persons: Erik, Lyle Menendez’s, Gavin Newsom, Nathan Hochman, Attorney George Gascón, Menendez resentencing, Hochman, , Newsom, Lyle Menendez, Jose, Mary Louise “ Kitty ” Menendez, Gascón, Michael Blackshire, , ” Gascón, resentencing ., Kim Kardashian, ” Hochman, Menendez, Juan Mejia, ” Mejia, Gascon Organizations: California Gov, Angeles, Attorney, Netflix, Los Angeles Times, Getty, NBC News, resentencing, Los Angeles County Locations: California, Angeles County, Los Angeles
Mattel has released a new Barbie doll in honor of Rita Moreno's upcoming 93th birthday. Rita Moreno holds her Academy Award in 1962. Rita Moreno at the Academy Museum of Motion Pictures on Oct. 19 in Los Angeles. Mattel“It’s an honor to celebrate Rita Moreno as the latest addition to our Barbie Tribute Collection,” said Krista Berger, senior vice president of Barbie and global head of dolls at Mattel. MattelWhile Moreno officially turns 93 on Dec. 11, the doll designed in her honor is already available online at the Mattel shop.
Persons: Rita Moreno's, Moreno, , Anita, Rita Moreno, Tony, “ Jane, Virgin, Amy Sussman, Mattel “, , Krista Berger, Barbie, Lucille Ball, Vera Wang, Laverne Cox, “ It’s, ” Moreno Organizations: Mattel, Latina, Bettmann, Getty Images, Academy Museum of Motion Pictures, of Arts, Kennedy, Peabody Locations: Puerto Rico, New York City, Hollywood, Los Angeles
Gisele Pelicot on Tuesday lambasted the cowardice of the dozens of men accused of abusing her during 10 years of mass rape organized by her husband and told the court hearing the trial France’s patriarchal society must change. Most of the 50 other men on trial have denied rape. “For me this is the trial of cowardice, there is no other way to describe it,” Gisele Pelicot said, with many of the accused in the courtroom. “It is time for society to look at this macho, patriarchal society and change the way it looks at rape,” Gisele Pelicot told the court. “Rape is rape,” she said on Tuesday.
Persons: Gisele Pelicot, Dominique Pelicot, ” Gisele Pelicot, Christophe Simon, , , Beatrice Navarro Organizations: Getty Locations: Avignon, France, AFP
Can you sing along to “Wicked” show tunes in a movie theater? “I don’t want to hear you singing.”The discourse surrounding “Wicked” mirrors other recent conversations about etiquette at public gatherings. However, when it comes to movie theater etiquette, the conversation has largely centered around people using their devices during the film. Williams is among the contingent of “Wicked” fans who think singing along in a theater wouldn’t be the worst offense. “But come a second time and let us sing to you.”“We understand it if you do, and if you don’t,” Grande added.
Persons: , Alex Lewis, Lewberger, Cynthia Erivo, Ariana Grande, ” Lewis, Glinda, Taylor Swift, Oz, Lexi Williams, , , Jon Chu, Jonathan Bailey, Michelle Yeoh, Madame Morrible, Williams, she’s, she’ll, Alamo Drafthouse, Erivo, ” Erivo, ” Grande, Grande Organizations: Broadway, NBC News, eventual, Shiz, Alamo, Universal Pictures, NBC, Comcast Locations:
Reuters —Gisele Pelicot on Tuesday lambasted the cowardice of the dozens of men accused of abusing her during 10 years of mass rape organized by her husband and told the court hearing the trial France’s patriarchal society must change. Most of the 50 other men on trial have denied rape. “For me this is the trial of cowardice, there is no other way to describe it,” Gisele Pelicot said, with many of the accused in the courtroom. Video recorded by her husband and shown in court over the past weeks have repeatedly featured Gisele Pelicot motionless, sometimes snoring, while some of the accused abused her. “It is time for society to look at this macho, patriarchal society and change the way it looks at rape,” Gisele Pelicot told the court.
Persons: Gisele Pelicot, Dominique Pelicot, ” Gisele Pelicot, , , Beatrice Navarro, ” “ Locations: Avignon, France
This week, the new Free Application for Federal Student Aid expanded its "phased rollout" so all students can now apply for aid for the upcoming academic year. Up until Monday, the 2025-26 FAFSA was only available to limited groups of students in a series of beta tests that began on Oct. 1. Now, the form is open to all and the Department of Education has said it will be out of testing entirely by Nov. 22 — which puts the official launch ahead of schedule. This year, the plan was to be available to all students and contributors on or before Dec. 1. Students who submit a form during this final "expanded beta" phase before Nov. 22 will not need to submit a subsequent 2025–26 FAFSA form, the Education Department said.
Persons: FAFSA, Mark Kantrowitz Organizations: Federal Student Aid, Department of Education, Education Department, Finance
In today’s edition, national political reporter Ben Kamisar examines how House Republicans are growing increasingly aligned with Donald Trump. “One of the main takeaways from this cycle is that the Democratic Party has a lot of work to do on how we’re reaching voters,” Democratic strategist Christina Freundlich said. It’s one more thing a narrow House Republican majority will have to work through early next year. The remaining House Republicans are going to have to summon a different level of unity than they have managed recently to move the party’s legislative agenda. Martin O’Malley, a onetime presidential candidate, announced he’d enter the race for Democratic Party chair, but many more names are already circulating.
Persons: Ben Kamisar, Donald Trump, Kristen Welker, Mark Murray, Kamala Harris, Harris, Trump, Christina Freundlich, , Steve Schale, Barack Obama’s, Joe Biden, , ” Schale, Sen, John Fetterman, Sahil Kapur, Syedah Asghar, Ryan Nobles, Kyle Stewart, Mike Johnson, We’re, ” Johnson, Donald Trump’s, you’d, , Matt Gaetz’s, Elise Stefanik, Mike Waltz, Pete Hegseth, Brendan Carr, Carr, Johnson, ann o, lea Organizations: NBC, White House, Capitol, Republicans, Press, Democrats, Democratic Party, Democratic, PAC, Kyle Stewart Congress, “ Fox, Republican, NBC News, Trump, Fox News, Federal Communications Commission’s, adjourning, gov Locations: Florida, Gaetz
If you still haven’t booked your holiday travel plans, take note: Prices tend to rise the closer you get to the days you’re looking to travel. To afford holiday trips, about 50% of respondents are cutting back on other expenses while 49% are picking up discounts and deals, according to the 2024 Holiday Travel Outlook by Hopper, a travel site. Some last-minute holiday travelers are leaning into so-called “Travel Tuesday” — or the Tuesday after Cyber Monday and Black Friday — which falls on Dec. 3 this year. As you shop, make sure to read the fine print in case discounts only apply for certain routes and days, Dengler explained. “I really encourage travelers to do that exploration now so that on Travel Deal Tuesday, they can be ready to actually book,” she said.
Persons: Hopper, , ’ ”, Sally French, , Phil Dengler, Hayley Berg, Dengler, NerdWallet’s, “ They’re, you’ll, ” Dengler, you’re, Berg, Organizations: McKinsey and Company, Travel, Travel Deal, Black
WASHINGTON — Congress faces a Dec. 20 deadline to fund the government and avert a shutdown, and Speaker Mike Johnson says House Republicans will probably push the fight into early 2025 rather than reach a full-year funding deal this year. And then then we should be actually working on the next year’s appropriations.”But even if they push the fight to early 2025, Republicans won’t have full control over spending decisions. Government funding legislation is subject to the 60-vote threshold in the Senate, which top Republicans have promised to preserve. That means they’ll have to reach a deal with Democrats, who currently control the Senate and want to pass full-year funding this year, not in 2025. “The bottom line is we’ve got to control spending and not allow there to be a runaway spending bill in December,” he said.
Persons: Mike Johnson, , We’re, ” Johnson, Donald Trump’s, you’d, Donald J, Trump, Robert Aderholt, there’s, it’ll, ” Aderholt, Trump’s, ” Sen, John Boozman, ” Boozman, Republicans won’t, Patty Murray, Susan Collins, We’ve, I’ve, , Pete Aguilar, “ Mike Johnson, Chip Roy, Boozman Organizations: WASHINGTON, “ Fox, Democrats, , Committee, Republicans, NBC, GOP, CRs Locations: WASHINGTON —, Maine, Texas
Bannon is facing numerous charges from the Manhattan district attorney's office for allegedly defrauding donors who believed they were giving money to build a wall at the southern U.S. border. "We’re not changing it again," Newbauer told both sides including Bannon, who attended virtually. Bannon was indicted in the case in Sept. 2022 and hit with charges including money laundering, scheming to defraud, and conspiracy. Three other members of the group, including Kolfage, have already been convicted of charges related to the scheme. Bannon was initially hit with charges related to the same scheme by federal prosecutors in Aug. 2020.
Persons: Steve Bannon, Donald Trump, White, Bannon, Bannon's, Newbauer, Brian Kolfage, Attorney Alvin Bragg, Bragg Organizations: Manhattan, Attorney, Democrat, Trump, Capitol Locations: York, Manhattan, U.S
In October 1975, a 28-year-old Elton John performed two sold-out shows at Dodger Stadium in Los Angeles, cementing his status as the biggest pop star in the world. Those two seminal events in the iconic singer-songwriter’s life form the foundation of “Elton John: Never Too Late,” now playing in select theaters and debuting Dec. 13 on Disney+. Elton John performs at Dodger Stadium in Los Angeles in 1975. John Lennon makes a surprise appearance at an Elton John concert at Madison Square Garden in New York City in 1974. Elton John and his husband, David Furnish, in West Hollywood, Calif., in 2020.
Persons: Elton John, John, “ Elton John, , R.J . Cutler, John’s, David, , Rocket Entertainment —, Chris Walter, WireImage, Cutler, Billie Eilish, Bill Clinton’s, Martha Stewart, Cliff Jahr, Elton, didn’t, ” Cutler, it’s, ” Cutler —, John Lennon —, John Lennon, Steve Morley, , Alexis Petridis, ‘ Elton ’, Cliff, ” John, , Michael Kovac, , ” Elton John, “ It’s Organizations: Dodger, Disney, Rocket Entertainment, Getty, Rolling Stone, NBC News, Madison, Garden, Stone, New York Public Library, Toronto Locations: Los Angeles, North America, New York City, Redferns, West Hollywood, Calif, Toronto
Beyoncé is expected to perform at the halftime show for the Christmas Day matchup between the Houston Texans and Baltimore Ravens, which will be streaming live on Netflix. The streaming service announced the game's halftime performance in a statement Sunday. The album included contributions from artists including Dolly Parton, Willie Nelson, Miley Cyrus, Post Malone and Shaboozey, among others. The streaming service said it hopes the holiday matchups become a tradition. Netflix said it will livestream the Kansas City Chiefs' game against Pittsburgh Steelers starting at 1 p.m.
Persons: Beyoncé, Netflix livestreams, Cowboy Carter, Dolly Parton, Willie Nelson, Miley Cyrus, Post Malone, Shaboozey, DeVille, Mike Tyson, Jake Paul, , ” Beyoncé, Bruno Mars Organizations: Houston Texans, Baltimore Ravens, Netflix, Texans, Ravens, NRG, Coldplay, Super, NFL, Kansas City Chiefs, Pittsburgh Steelers Locations: Beyoncé's, Houston, New Orleans, Santa Clara , California
Investors may like AT & T for its juicy dividend, but the underlying shares also have "significant upside" ahead, according to Goldman Sachs. The Wall Street investment bank sees a number of factors at play that should boost returns for the Dallas-based telecom giant, which pays a dividend yield of 4.89%. Overall, Schneider anticipates sustained EBITDA growth of 3%, which is 100 to 200 basis points faster growth than Wall Street is currently modeling, he said. That sustained improvement on EBITDA growth should warrant a higher multiple over time, he added. The stock, which hit a 52-week high on Monday, is up 37% year to date, excluding the dividend.
Persons: Goldman Sachs, Goldman, James Schneider, Schneider, T's Organizations: Dallas, Verizon, Mobile Locations: United States
It builds on the P/E ratio (price-earnings ratio) by incorporating the expected long term earnings growth rate, providing a more dynamic perspective. Using a two-axis growth of a similar relative scale, we can normalize and compare BJ's revenue growth to Costco's. Costco's growth rate is better than that of its smaller competitors, but is the stock itself a better value? Over the past five years, Costco has experienced a growth rate of 11%, and BJ's is a more modest but still respectable 7%. BJ's PEG ratio is 21/7 = 3.
Persons: BJ, I've, BJ Jan Organizations: BJ's Wholesale Club Holdings, BJ's, Costco, Walmart, CNBC, NBC UNIVERSAL Locations: Marlborough , Massachusetts, East Coast, Midwest
A Georgia appeals court on Monday canceled until further notice oral arguments on an effort by President-elect Donald Trump and other co-defendants to remove Fulton County District Attorney Fani Willis from the criminal election interference prosecution against them. The Georgia Court of Appeals acted on its own in canceling the arguments scheduled for Dec. 5. Trump and other defendants had appealed that ruling, and the Court of Appeals in June halted proceedings in the case pending the outcome of that effort. Circuit Court of Appeals to suspend proceedings in that case, citing Trump's election victory. That federal appeals court granted Smith's request.
Persons: Donald Trump, Fani Willis, Trump, Joe Biden, Scott McAfee, Willis, Jack Smith, Aileen Cannon, Smith Organizations: Republicans, Hyatt, Georgia, Trump, Republican, Appeals, U.S . Department of Justice, Washington , D.C, Biden's, White, U.S, Circuit Locations: Washington , DC, Georgia, Fulton County, Atlanta, York, Manhattan, Washington ,, Florida, U.S
Dollar sitting pretty, yen bears wary of Bank of Japan hawks
  + stars: | 2024-11-18 | by ( ) www.cnbc.com   time to read: +3 min
Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.
Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada
Just ahead of the official Dec. 1 launch date, the Department of Education announced all students and families can now access the 2025-26 Free Application for Federal Student Aid. Select students and families were invited to fill out the 2025-26 FAFSA starting on Oct. 1 as part of a beta testing period. The application is still in beta testing as the department ensures it still functions successfully with a greater influx of applicants. But those who submit a form now while in beta mode will not need to submit another application after Dec. 1. "Students who submit a FAFSA form during any beta period…will be able to make any needed corrections to the form and will not need to submit a subsequent 2025–26 FAFSA form."
Persons: studentaid.gov Organizations: Department of Education, Federal Student Aid
“Some Black Friday deals are misleading as retailers may inflate original prices to make a deal look like a better value,” said consumer savings expert Andrea Woroch. This year, in particular, some of the deals are already as good as they are going to get. Retailers plan to deliver your holiday deals a little slower this year. Travelers can check out Travel Tuesday deals from 2023 to get an idea of what to expect this year. If an item costs less at another store or popular site, often the retailer will match the price, Woroch said.
Persons: , Andrea Woroch, Adam Davis, Patrick Kelleher, Lauren Beitelspacher, ” Beitelspacher, “ we’ve, ” Davis, Lululemon, , Woroch, ” Woroch Organizations: National, Wells, Wells Fargo Retail Finance, , Consumers, DHL Supply, North, CNBC, Retailers, Babson College, Nike, , Day, Labor, Walmart, Target, Black Locations: Wells Fargo, North America
Does Sunday’s wild win in Pittsburgh tell us more about the Steelers or Ravens when it comes to AFC contenders? Nguyen: This Packers team is better than last year’s edition. A month from now, are we going to be talking about the Dolphins, Colts, both or neither as competing for the seventh seed in the AFC? Pompei: The competition for the last wild-card spot in the AFC could come down to the Dolphins, Colts, Bengals and Broncos. The Colts defense has improved, and on Sunday Richardson executed better than he did prior to his benching.
Persons: Mike Jones, Ted Nguyen, Dan Pompei, Jones, Steelers hadn’t, Lamar Jackson, Derrick Henry, Henry, Justin Tucker, Tucker’s, Mike Tomlin, Nate Herbig’s, Payton Wilson, Hill, Tucker, I’m, Jeff Hafley, Jordan Love, Love, he’s, Josh Jacobs, Tua Tagovailoa’s, Anthony Richardson, Sunday Richardson, They’re, Richardson, Tagovailoa, hasn’t, Anthony Weaver, Mike Macdonald, Joe Sargent Organizations: Packers, Steelers, Ravens, AFC, The Athletic NFL, Pittsburgh, Chargers, 49ers, NFC, Green Bay, Bears, Dolphins, Colts, Bengals, Broncos, Lions, Patriots, Titans, Giants, Jaguars, Jets, Browns, Texans, Raiders, Chiefs, Getty Locations: Chicago, Pittsburgh, Atlanta, Washington, Baltimore, Green, Houston, Miami
How a viral, duct-taped banana came to be worth $1 million
  + stars: | 2024-11-17 | by ( ) www.cnbc.com   time to read: +4 min
But a banana duct-taped to a wall? That might sell for more than $1 million at an upcoming auction at Sotheby's in New York. The yellow banana fixed to the white wall with silver duct tape is a work entitled "Comedian," by Italian artist Maurizio Cattelan. Now, the conceptual artwork has an estimated value of between $1 million and $1.5 million at Sotheby's auction on Nov. 20. When asked to compare Cattelan's banana to a classic like Monet's "Nymphéas," Galperin says impressionism was not considered art when the movement began.
Persons: Maurizio Cattelan, David Datuna, David Galperin, Galperin, Sotheby's, Cattelan, Chloé Cooper Jones, Cooper Jones, Claude Monet Organizations: Art Basel Miami Beach, Columbia University School of, Arts Locations: Miami Beach , Florida, Sotheby's, New York, Italian, Selfie, Miami
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