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☆ Never Mind Covid, Investors Want a Pfizer Obesity Pill
▼ + stars: | 2023-10-31 | by ( David Wainer | ) www.wsj.com time to read: +1 min

Pfizer says it hasn’t gotten the data on its experimental oral obesity medication. It is little wonder, then, that investors were hoping Pfizer could jump to the winning camp with an obesity pill. But the company’s silence on its experimental oral medication, danuglipron, during its earnings release Tuesday, is worrying Wall Street. “Not one mention [of danuglipron] in the prepared remarks from Pfizer,” noted Will Sevush , a healthcare strategist for Jefferies. Before today’s earnings, David Risinger , a Leerink Partners analyst, had written that Pfizer might even release data from its midstage study alongside the earnings results as soon as Tuesday.

Persons: hasn’t, Gabby Jones, Eli Lilly, ”, Will Sevush, Jefferies, David Risinger, Albert Bourla, TD Cowen, Steva Scala Organizations: Pfizer, The Wall, Novo Nordisk, Moderna, Partners

☆ Stocks Gain After Major Companies Beat Wall Street Expectations
▼ + stars: | 2023-10-25 | by ( David Uberti | ) www.wsj.com time to read: 1 min

3M shares rose 5.3% Tuesday after the company boosted its earnings projections. Photo: Gabby Jones/Bloomberg NewsMakers of everything from Post-it Notes to jet engines to business software clued in Wall Street Tuesday on their 2023 outlooks. The three major stock indexes opened in the green and didn’t look back. The Dow Jones Industrial Average edged higher 0.6%, or 205 points. The S&P 500 climbed 0.7% while the tech-heavy Nasdaq Composite rose 0.9%.

Persons: Gabby Jones Organizations: Bloomberg, Dow Jones Locations: Wall

☆ Disney revealing ESPN's financials is a key step in CEO Bob Iger's turnaround
▼ + stars: | 2023-10-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Disney 's (DIS) first-ever breakout of ESPN's financials is another key step in CEO Bob Iger's turnaround for the embattled entertainment giant, displaying a stable top line and plenty of room for growth. For the nine months ended July 1, ESPN delivered $12.56 billion in revenue, according to this week's 8K government filing from Disney. The experiences division, which was basically unchanged in Iger's segment overhaul, had $24.39 billion during the first three quarters of fiscal 2023. Growing losses in Disney's linear TV assets may compel the company to sell all or some of them. We'll look for continued improvement when Disney's fiscal fourth-quarter earnings come out next month.

Persons: Bob Iger's, Iger, Disney, Morgan Stanley, Goldman Sachs, Goldman, We're, Jim Cramer's, Jim Cramer, Jim, Gabby Jones Organizations: Disney, ESPN, ABC, CNBC, Penn Entertainment, ESPN Bet, Hulu, Comcast, Pro, Iger, Bloomberg, Getty Locations: Brooklyn, New York

☆ P&G Washes Away Consumer Blues Everywhere but China
▼ + stars: | 2023-10-18 | by ( Aaron Back | ) www.wsj.com time to read: 1 min

Procter & Gamble, whose brands include Herbal Essences, said on Wednesday its organic sales rose 7% from a year earlier in the three months through September. Photo: GABBY JONES for The Wall Street JournalProcter & Gamble sees a recovering consumer everywhere but in one market, which just so happens to be the world’s second-largest economy. That is encouraging news for the company itself, but an unsettling message more broadly about the state of China. The maker of Tide detergent and Gillette razors on Wednesday said its organic sales, which strip out the impacts of currency movements and mergers, rose 7% from a year earlier in the three months through September. As has been the case in prior quarters, this was entirely thanks to price increases, as underlying volumes fell 1%.

Persons: GABBY JONES Organizations: Procter, Gamble, The Wall Street, Gillette Locations: China

That shift in legal doctrine was profound, shaping how courts have applied antitrust law ever since. Khan’s ideas have challenged the closest thing to a sacred cow in antitrust law. The most ambitious of those never became law, but Khan’s role in the probe, which Cicilline described as “critical,” helped further raise her profile. Amazon and Meta have both pushed for Khan to recuse herself from matters involving the companies, questioning her objectivity. The US Federal Trade Commission sued Amazon.com Inc. in a long-anticipated antitrust case, accusing the e-commerce giant of monopolizing online marketplace services by degrading quality for shoppers and overcharging sellers.

Persons: Lina Khan, Khan, Stephanie Keith, ” Khan, “, Joe Biden, ”, William Kovacic, George W, Bush, Barry Lynn, Lynn, New America Foundation —, Obama, —, ” Lina Khan, Rong Xu, ” Lynn, it’s, ’ ”, Reagan, Robert Hockett, Khan’s, David Cicilline, Lina, ” Cicilline, Cicilline, Justin Tallis, Biden, Trump, Douglas Farrar, Gary Gensler, Tom Williams, Jonathan Kanter, Roe, Wade, Kevin Kiley, Meta, she’s, “ We’ve, they’re, Federal Trade Commission Lina Khan, Al Drago, Kathleen Bradish, Bradish, Christine Wilson, Wilson, Noah Phillips, Gabby Jones, NetChoice, Carl Szabo, “ It’s, ” Szabo, There’s, ” Kovacic Organizations: CNN, Federal Trade Commission, Amazon, FTC, Big, Microsoft, Meta, Bloomberg, Getty, Republican, White House, Williams College, New America Foundation, Washington Monthly, Yale Law, Washington Post, Cornell Law School, Big Tech, Rhode, Rhode Island Democratic, Apple, Facebook, Cambridge, Activision, SEC, Financial Services, General Government, Securities and Exchange Commission, Capitol, Justice Department, Epic Games, California Republican, Washington , D.C, American Antitrust Institute, GOP, US Federal Trade Commission, Amazon.com Inc Locations: Big Tech, Robbinsville , New Jersey, Washington, Larchmont , New York, Rhode Island, Washington ,, New York

☆ A new docuseries follows Juul’s catastrophic crash and burn
▼ + stars: | 2023-10-11 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +7 min

If you were a millennial, brought up amid secondhand smoke in homes and restaurants in the ’80s and ’90s (like this writer), Juul’s rise might not have felt so alarming. But if you were a teenager, Juul’s impact was immediately striking — and likely unnerving for your parents — as explored in a new Netflix docuseries. “Big Vape” neither neatly ties up Juul’s troubles nor addresses the company’s motives. Bulls***t.”“Big Vape: The Rise and Fall of Juul” is out now on Netflix. Watch: “Thank You for Smoking” (2005)This Jason Reitman-directed black comedy follows Big Tobacco lobbyist Nick Naylor (Aaron Eckhart), who spins, spins, spins the narrative by any means necessary, his job at odds with his role as parent to a 12-year-old.

Persons: R.J . Cutler, “, Juul, Gabby Jones, James Monsees, Adam Bowen, David Pierce —, Pierce, Juul’s splashy, “ James, Adam, ”, Jamie Ducharme, — Bella Hadid, Dave Chapelle, Adele, Jennifer Lawrence, ” Chase Amiratta, Spencer Platt, ‘, ’ ”, Erica Halverson, Jamie Ducharme’s, Stanford grads ’, —, Jason Reitman, Nick Naylor, Aaron Eckhart, Pets.com ”, Pets.com, Anna Lembke, Dr Organizations: CNN, Netflix, Juul Labs, Food and Drug, Apple, Bloomberg, Getty, Washington D.C, Bulls, Stanford, ., Big Tobacco Locations: “, New York , California , Massachusetts, New Mexico , Illinois, Colorado, Washington, Juul

We're be buying 200 shares of Coterra Energy (CTRA) at roughly $26.79 each. Following Monday's trade, Jim Cramer's Charitable Trust will own 1,750 shares of CTRA, increasing its weighting in the portfolio to 1.7% from 1.5%. We also do not believe shares are adequately reflecting the rise in natural gas prices over the past week and a half. Remember, Coterra's business is about 50-50 nat gas and oil . It's worth noting that CTRA stock was moving lower with nat gas and oil prices on Monday.

Persons: We're, Jim Cramer's, CTRA @NG, Jim Cramer, Jim, Gabby Jones Organizations: Coterra Energy, CTRA, Morning, Nat Gas, The U.S . Energy Information Administration, CNBC, The New York Stock Exchange, Bloomberg, Getty Locations: Ukraine, The, United States

☆ Binance to Exit Russia With Sale to New Crypto Exchange CommEX
▼ + stars: | 2023-09-27 | by ( ) www.wsj.com time to read: 1 min

Binance to Exit Russia With Sale to New Crypto Exchange CommEXOperating in Russia isn't "compatible with Binance's compliance strategy," the crypto exchange said. (Gabby Jones/Bloomberg News)Binance, the world’s largest cryptocurrency exchange, is exiting Russia by selling its operations there to a new crypto exchange known as CommEX. “As we look toward the future, we recognize that operating in Russia is not compatible with Binance's compliance strategy,” said Noah Perlman, Binance's chief compliance officer.

Persons: Gabby Jones, ”, Noah Perlman Organizations: Russia, New Crypto, Bloomberg Locations: Russia

☆ The risks to alcohol and food stocks from Ozempic-like weight loss drugs
▼ + stars: | 2023-09-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

The rise of new anti-obesity medications could result in less alcohol consumption, impacting Club name Constellation Brands (STZ). The risk already seems to be playing out in food stocks with exposure to snacks and junk food. We don't think Constellation Brands stock will suffer the same fate as shares of leading snack food companies like J.M. Key points The increasing popularity of new diabetes/weight loss drugs could curtail consumer appetite for junk food and alcohol. Constellation Brands (STZ), the Club name behind the Mexican beers Corona and Modelo, should be able to weather any such headwind.

Persons: Eli Lilly, it's, Mills, Lilly, Jim Cramer, Mounjaro, Morgan, Morgan Stanley, AOMs, Jefferies, Jim Cramer's, Jim, Gabby Jones Organizations: Constellation Brands, Corona, Modelo, Pacifico, Nordisk, Ozempic, Club, Novo Nordisk, Brands, Conagra Brands, Constellation, Bud Light, Jefferies, JPMorgan, CNBC, Bloomberg, Getty Locations: U.S, Oro, Brooklyn Borough, New York

☆ CNBC Daily Open: Wall Street disagrees with main street
▼ + stars: | 2023-09-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +5 min

Gabby Jones | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] FOMC meeting this weekThe Federal Reserve's meeting on Wednesday will be the main event to keep an eye on for this week. "Investors remained upbeat about the outlook for stocks and the economy in August," according to a Vanguard Investor Expectations Survey. In that open space between breaths, equilibrium between Wall Street and main street may be reached.

Persons: Gabby Jones, Hong, Kospi, Joe Biden, there's, Edward Jones, Mona Mahajan, CNBC's, Mahajan, Ray, Greg Bassuk Organizations: New York Stock Exchange, Bloomberg, Getty, CNBC, Dow Jones, Index, Nikkei, China, European Central Bank, Federal Reserve, Bank of England, U.S, Initiative, FedEx, University of Michigan, Consumers, Survey, Dow Jones Industrial, Nasdaq, Dow Locations: New York, Asia, Pacific, China Venture, China, India, East, Europe

Leon Neal/AFP/Getty Images2008: iPhone 3G, meet the App StoreWith the second version of the iPhone, Apple introduces the App Store and 3G connectivity. Stephen Lam/Reuters2016: iPhone SE, a budget optionTaking a step back, the iPhone SE is a cheaper, smaller device than the 6S, giving customers a chance to enjoy Apple’s phones at a much lower cost. People handle the new Apple iPhone XS and iPhone XS Max during a media tour at an Apple office in Shanghai, China, on September 21, 2018. Brendon Thorne/Bloomberg/Getty Images2020: iPhone 12 Mini, small but mightyThe iPhone 12 mini is smaller than the usual iPhone but packs a powerful punch. Mike Segar/Reuters2021: iPhone 13 Series, same price for more spaceThe iPhone 13 stays at the same price as the iPhone 12 with double the storage space, as well as featuring a much smaller top notch.

Persons: Steve Jobs, John Green, ” Jobs, Leon Neal, Justin Sullivan, Siri, FaceTime, “, ”, Jobs, Michael Nagle, Apple, Seth K, Hughes, Akio Kon, David Gray, Tim Cook, Josh Edelson, Stephen Lam, David Paul Morris, Phil Schiller, Aly Song, Max, Jason Lee, Pro Max, Phil Barker, Brendon Thorne, Mike Segar, Gabby Jones, Andrew Kelly Organizations: New, New York CNN, Apple, Macworld, Bay Area, Getty, Lightning, Bloomberg, Apple Inc, Worldwide, Steve Jobs, Steve, Pro, Future Publishing Locations: New York, San Francisco, London, AFP, San Francisco , California, New York City, Cupertino , California, Ginza, Tokyo, Japan, Sydney, Shanghai, China, Beijing, Australia, Manhattan , New York

☆ AI fears overblown? Theoretical physicist calls chatbots ‘glorified tape recorders’
▼ + stars: | 2023-08-13 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

New York CNN —The public’s anxiety over new AI technology is misguided, according to theoretical physicist Michio Kaku. “Mother Nature computes on electrons, electron waves, waves that create molecules. Quantum computing is an emerging technology utilizing the various states of particles like electrons to vastly increase a computer’s processing power. Instead of using computer chips with two states, quantum computers use various states of vibrating waves. We’re powerless to cure these diseases because we have to learn the language of nature, which is the language of molecules and quantum electrons.”

Persons: Michio Kaku, CNN’s Fareed Zakaria, ”, ’, chatbots, ChatGPT, Gabby Jones, ” Kaku, we’re, Kaku Organizations: New, New York CNN, Darktrace Plc, Bloomberg, – IBM, IBM, Microsoft, Google Locations: New York, Brooklyn, British

☆ Will Smith-backed U.S. broker Public launches in the UK in first foray overseas
▼ + stars: | 2023-07-13 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Gabby Jones | Bloomberg | Getty ImagesAmerican stock brokerage startup Public launched its services in the U.K. Thursday, marking its first international expansion its launch in 2017. The app, backed by celebrities including Will Smith and skateboarding legend Tony Hawk, will offer U.K. users commission-free trading in over 5,000 U.S.-listed stocks during the country's regular trading hours. Bibas said that, for now, the U.K. is the only country Public is focusing on for its international expansion. In the future, it hopes to take learnings from its U.K. launch to open in other European markets. Freetrade, the U.K. brokerage startup, slashed its valuation by a whopping 65% last month to £225m in a crowdfunding round, citing a "different market environment."

Persons: Gabby Jones, Will Smith, Tony Hawk, AJ Bell, Hargreaves Lansdown, Leif Abraham, Public's, Abraham, Jannick Malling, PFOF, Dann Bibas, Bibas, he's Organizations: Bloomberg, Getty, Public, CNBC, Jannick, GameStop, Citadel Securities, European Union, Khepri Advisers, Financial, Authority, Accel, Tiger Global Locations: U.S, Abraham, Denmark, Germany, New York, Copenhagen, London, Amsterdam, Covid

☆ Crypto prices stabilize after plunging on SEC crackdown jitters
▼ + stars: | 2023-06-12 | by ( Sheila Chiang | ) www.cnbc.com time to read: +2 min

The Binance website on a laptop arranged in the Brooklyn borough of New York, US, on Wednesday, June 7, 2023. The list of digital tokens deemed as unregistered securities by the Securities and Exchange Commission now spans over $120 billion of crypto after the US agencys lawsuits against Binance Holdings Ltd. and Coinbase Global Inc. The SEC sued Coinbase and Binance last week, accusing both of selling unregistered securities, among other charges. On Tuesday, the U.S. regulator alleged that Coinbase was operating as an unregistered exchange and broker, and that 13 assets listed on its platform were considered crypto asset securities. On Monday, it also accused Binance of inflating trading volumes, diverting customer funds and misleading customers about its controls, among others.

Persons: Gabby Jones, Coinbase, Ripple's XRP, Binance's, Binance Organizations: Securities and Exchange Commission, Binance Holdings, Coinbase Global Inc, Bloomberg, Getty, U.S . Securities, Exchange Commission, SEC, Polygon's Locations: Brooklyn, New York, U.S

☆ As shoppers look for savings, Nordstrom hopes Rack stores can fuel its revival
▼ + stars: | 2023-05-12 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

The success or failure of the Nordstrom Rack turnaround effort could shape the company's future. Those chains such as T.J.Maxx , Ross Stores and Burlington Stores , have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen. Nordstrom Rack stores outnumber the company's namesake stores, with 241 locations across the country, according to company filings. Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call. As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too.

☆ When Buying Now and Actually Paying Later Isn’t Enough
▼ + stars: | 2023-05-10 | by ( Telis Demos | ) www.wsj.com time to read: +1 min

Affirm has weathered rocky capital markets and increased its funding capacity from the prior quarter. Photo: Gabby Jones/Bloomberg NewsMore people are buying now and—despite what many have feared—also paying later. Buy now, pay later provider Affirm on Tuesday reported some reassuring things related to common concerns about the installment-payment business. Plus, Affirm has weathered rocky capital markets and increased its funding capacity from the prior quarter. In April, it closed a $400 million securitization deal that had been upsized from $250 million.

☆ U.S. Senators Revive Bid to Form Covid-19 Commission
▼ + stars: | 2023-05-10 | by ( Warren P. Strobel | Michael R. Gordon | ) www.wsj.com time to read: 1 min

Pop-up Covid-19 testing tents are still accessible in New York City. Photo: Gabby Jones for The Wall Street JournalWASHINGTON—A bipartisan group of U.S. senators is reviving efforts to establish a national Covid-19 task force modeled on the 9/11 Commission to investigate the U.S. government response to the pandemic and the disputed origins of the virus. Advocates have long pressed for such a panel, which would have investigatory powers and issue recommendations about how the U.S. can better prepare for future pandemics. But past legislative efforts have foundered because of partisan disagreement, turf fights in Congress, and a lack of support from the Biden administration, people familiar with the matter said.

☆ ChatGPT can pick stocks better than your fund manager
▼ + stars: | 2023-05-05 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —A basket of stocks selected by ChatGPT, a chatbot powered by artificial intelligence (AI), has far outperformed some of the most popular investment funds in the United Kingdom. It wouldn’t “be long until large numbers of consumers try to use [ChatGPT] for financial gain,” Jon Ostler, Finder’s CEO, said in a statement earlier this week. A typical investment fund pulls together money from multiple investors, and is overseen by a fund manager who decides how to invest that money. A survey of 2,000 UK adults conducted by Finder last week showed that 8% had already used ChatGPT for financial advice, while 19% said they would consider doing so. Nevertheless, “the democratization of AI seems to be something that will disrupt and revolutionize financial industries,” Ostler said.

☆ Paramount Posts Earnings Loss on $1.7 Billion Charge, Cuts Dividend
▼ + stars: | 2023-05-04 | by ( Will Feuer | ) www.wsj.com time to read: 1 min

Paramount and other streaming companies have been working to rein in costs. Photo: Gabby Jones/Bloomberg NewsParamount Global posted a steep loss in the first quarter, weighed down by nearly $1.7 billion in charges tied to its plan to remove certain programming as it combines its Showtime streaming service with its Paramount+ platform. The New York-based media company also slashed its dividend for the first time in over a decade as it continues to pour cash into its money-losing streaming division.

☆ Paramount Shares Drop 28% as Streaming Costs Mount
▼ + stars: | 2023-05-04 | by ( Will Feuer | Jessica Toonkel | ) www.wsj.com time to read: 1 min

Paramount and other streaming companies have been working to rein in costs. Photo: Gabby Jones/Bloomberg NewsParamount Global shares fell nearly 30% Thursday after the media company reported a steep first quarter loss and said it would cut its dividend, the latest sign of the challenges Hollywood’s titans face as they pivot to streaming. Paramount’s results were dragged down by major charges related to its cancellation of certain programming, a soft ad market that weighed on its TV business, and rising costs for its flagship streaming service. Paramount said it has restarted its sales process to unload its book publishing unit, Simon & Schuster, and has received interest.

☆ Paramount Shares Drop Nearly 30% as Streaming Costs Mount
▼ + stars: | 2023-05-04 | by ( Will Feuer | Jessica Toonkel | ) www.wsj.com time to read: 1 min

☆ Kraft Heinz Reports First-Quarter Sales Lifted by Higher Prices
▼ + stars: | 2023-05-03 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Kraft Heinz, maker of Kool-Aid and Jell-O, raised prices last year in a response to more expensive commodities and supply-chain challenges. Photo: Gabby Jones/Bloomberg NewsKraft Heinz ’s higher prices once again lifted its revenue but ate into sales volumes during the most recently completed quarter as sticker shock sets in for grocery shoppers. The Pittsburgh-based maker of Kool-Aid and Jell-O said revenue climbed 7.3% to $6.49 billion in the first three months of the year, driven by higher costs for consumers that offset a decline in volumes and unfavorable foreign currency fluctuations. Analysts had been expecting $6.39 billion, according to FactSet.

☆ Starbucks Profit Surges on Higher Prices, Improved Operations
▼ + stars: | 2023-05-03 | by ( Heather Haddon | ) www.wsj.com time to read: 1 min

Starbucks said earlier this year that customers weren’t cutting back despite higher prices. Photo: GABBY JONES for The Wall Street JournalStarbucks said that higher prices and more-efficient operations helped drive higher sales and profit in its most recent quarter, while business in its China market improved. The coffee giant reported sales of $8.72 billion for the three months ended April 2, exceeding analysts’ expectations of $8.41 billion. Revenue in the chain’s second quarter increased by 14.2% from the year-earlier period.

☆ Pfizer’s Earnings Fall With Cooling Demand for Covid Products
▼ + stars: | 2023-05-02 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Pfizer reaffirmed its outlook to see revenue decline by as much as a third this year from its record high $100 billion in 2022. Photo: Gabby Jones for The Wall Street JournalPfizer ’s first-quarter revenue and earnings were down by nearly a third from a year ago, when the spread of the Omicron variant of Covid-19 buoyed demand for pandemic products. The drugmaker for the first three months of the year logged revenue of $18.28 billion, down 29% from a year ago but still well above Wall Street analyst estimates for $16.61 billion, according to analysts polled by FactSet.

☆ U.S. Covid-19 Deaths and Hospitalizations Near New Lows
▼ + stars: | 2023-04-28 | by ( Jon Kamp | ) www.wsj.com time to read: 1 min

New Covid-19 subvariants are on the rise, but the U.S. has broadly recorded declining numbers this year. Photo: Gabby Jones for The Wall Street JournalU.S. Covid-19 hospitalizations and deaths are hovering near new lows, providing fresh evidence that even as the virus endures it has become less damaging in a population with strengthened immune defenses. New subvariants are on the rise, and cutbacks in data reporting have clouded the view of recent trends. But the U.S. has broadly recorded declining numbers this year following a winter of less intense Covid-19 spread.

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