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G-III Apparel Group — Shares surged 22% after the apparel maker posted second-quarter results that topped estimates. Adjusted earnings of 52 cents per share beat the 27 cents a share that analysts expected, according to FactSet. Hewlett Packard Enterprise — Shares dropped 6% after Hewlett Packard Enterprise saw gross margins decline from a year ago. In its fiscal first quarter, C3.ai saw $73.5 million in revenue, lower than the $79.2 million forecast by analysts polled by FactSet. In its fiscal third quarter, Toro posted adjusted earnings of $1.18 per share on revenue of $1.16 billion.
Persons: FactSet, ChargePoint, LSEG, Verint, Steven Cahall, Tesla, Zimmer Biomet, McKesson, Toro, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Alex Harring, Yun Li, Pia Singh Organizations: JetBlue Airways, JetBlue, III, Hewlett Packard Enterprise, Hewlett, Enterprise, Frontier Communications, Verizon Communications —, Verizon, Casey's, Verint Systems, Technology, , Old Dominion, Old Dominion Freight, Toro Locations: New York, FactSet, Wells Fargo, Europe, China, Wells
Check out the companies making headlines in midday trading: Dollar Tree — Shares tumbled more than 22% after the discount retailer slashed its full-year outlook for net sales and adjusted earnings per share. GitLab — The software developer's stock soared more than 21% thanks to a strong third-quarter earnings outlook. Zscaler — The stock lost more than 18% after the cloud security company's fiscal first-quarter earnings outlook came in weaker than expected. Zscaler expects to earn between 62 cents and 63 cents per share, below the 73 cents per share analysts were estimating, per LSEG. Asana sees sales for the third quarter coming in between $180 million and $181 million, while analysts expected $182 million, according to LSEG.
Persons: LSEG, Zscaler, Cowen, Andrew Charles, , Lisa Kailai Han, Michelle Fox Organizations: Dick's, Goods, FactSet, UBS, AMD Locations: Cape Canaveral , Florida
DJT shares dropped to $17.89 per share around midday Tuesday, The stock's prior low was set on Aug. 28, when it hit $19.38 per share. The stock price was down roughly 77% from its high of $79.38 per share on March 26, following Trump Media's merger with a publicly traded special purpose acquisition company. DJT closed at $18.08 per share, down over 7% for the Wednesday trading day. Trump Media's single-day slide accompanied a broader market dip on Tuesday, especially for tech companies. Stock Chart Icon Stock chart icon DJT stock vs. Nasdaq stock exchange over six months.
Persons: Jakub Porzycki, Donald Trump, DJT, Trump Organizations: Nurphoto, Trump Media, Social, Trump, Nasdaq, Dow Jones
Cleanspark released its mining update for August, which showed that it mined 478 bitcoins last month. Vaxcyte – Shares were recently up more than 36% and earlier hit a record high after the vaccine company reported positive results from the Phase 1/2 study for its 31-valent pneumococcal conjugate vaccine candidate. Semiconductor stocks – Shares of some of the biggest chipmakers fell during the first trading session of the month. Last week, shares fell 19% on news of its filing delay and Hindenburg's disclosed short position. United States Steel – Shares fell around 6% after Vice President Kamala Harris opposed the planned sale of U.S. Steel to Japan's Nippon Steel at a Labor Day rally for union members in Pittsburgh.
Persons: Cleanspark, Vaxcyte, Leerink, Morgan Stanley, Redfin, Charles Liang, Hindenburg's, Hindenburg, Kamala Harris, Harris, Lisa Kailai Han, Pia Singh, Jesse Pound, Fred Imbert, Michelle Fox Organizations: Leerink Partners, Boeing, Riley Securities, Semiconductor, KLA, Nvidia, Micron Technology, Taiwan Semiconductor Manufacturing, Broadcom, Hindenburg, Securities and Exchange, United States Steel, Steel, Japan's Nippon Steel, Labor, U.S Locations: Wells, U.S, Pittsburgh, American
Afternoon commuters sit in traffic on southbound Interstate 5 near downtown San Diego on March 12, 2024. Kevin Carter | Getty Images"Rush" hour isn't what it used to be. Ridership sank during the pandemic, Federal Reserve Bank of St. Louis data shows, and never fully recovered. The result is a surge in traffic congestion throughout the peak midday and evening hours, according to Pishue. "Pre-Covid, the morning rush hour would be a peak and then the evening peak would be much larger," he said, describing two apexes with a valley in between.
Persons: Kevin Carter, Bob Pishue, Louis, Gallup Organizations: INRIX Inc, Midday, Federal Reserve Bank of St Locations: San Diego
Trump Media ended Wednesday's trading session down more than 4% at $20.10 per share. The monthslong Trump Media stock slide continued Wednesday, as shares of the company majority-owned by former President Donald Trump fell below $20 for the first time since the Truth Social maker went public more than five months ago. A Trump Media spokesperson did not immediately respond to CNBC's request for comment on the stock's latest dive. If he does sell — or if he even appears likely to — investors could lose confidence in Trump Media, a situation the company's own regulatory filings have acknowledged. But the company has noted that its fledgling social media platform, Truth Social, depends at least partly on Trump's enduring popularity and reputation.
Persons: monthslong, Donald Trump, Trump, Kamala Harris Organizations: Trump Media, Nasdaq, monthslong Trump Media, Republican, Trump, Forbes, Democratic Locations: Pennsylvania
Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.
Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau
NVDA YTD mountain Nvidia Wall Street is bullish heading into Nvidia's earnings results next week, figuring any hiccups to its next generation AI chips does little to dim the earnings potential of a company that essentially has a monopoly on the market. Economists polled by FactSet anticipate PCE to show increases of 0.2% month on month and 2.6% from the year-earlier period. Wall Street anticipates that stocks could go higher from here, though the road from now to the end of the year could be bumpy. Other notable earnings results include tech names Salesforce and CrowdStrike, as well as consumer names such as Campbell Soup, Dollar General and Ulta Beauty. Earnings: Nvidia , Bath & Body Works , J. M. Smucker , Salesforce , CrowdStrike , NetApp , HP Thursday Aug. 29 8:30 a.m.
Persons: Nvidia's, chipmaker, they've, Harsh Kumar, Piper Sandler, Blackwell, Jensen Huang, Jim Cramer, Kumar, Louis Navellier, Jerome Powell, Jackson, Powell, FactSet, David Miller, Miller, Kamala Harris, Donald Trump, He's, Campbell, Lululemon Organizations: Nvidia, Blackwell, Navellier, Associates, Federal Reserve, PCE, Nasdaq, Dow Jones, U.S, Catalyst Funds, Ulta, Dallas Fed, Richmond Fed, Body, HP, Autodesk, PCE Deflator, Chicago PMI Locations: Russia, Ukraine, Chicago, Michigan
Starbucks sent shockwaves through the business world on Tuesday with its announcement that Chipotle CEO Brian Niccol would take the same role at the coffee chain, replacing Laxman Narasimhan. While Starbucks shareholders and Wall Street rejoiced , it's a double-edged sword for Tengler as a holder of both stocks. "While I cheered the move of Brian to Starbucks this morning, I mourned it at the loss at Chipotle." To be sure, Starbucks investors had to go through pain to get to this point. Heading into Tuesday's opening bell, the stock was down about 22% compared with when Narasimhan, the outgoing Starbucks CEO, took over in March 2023.
Persons: Laffer, Nancy Tengler, she's, Brian Niccol, Laxman Narasimhan, it's, Tengler, Brian, she'll, Chipotle, Niccol, nabbed, I'm, that's, , Robert Hum, Tom Rotunno Organizations: Starbucks Locations: Chipotle, Seattle
Starbucks , Chipotle Mexican Grill — Starbucks stock shot up 21% after the coffee chain ousted CEO Laxman Narasimhan effective immediately and replaced him with Chipotle CEO Brian Niccol, who will step in Sept 9. Three Wall Street firms already upgraded Starbucks stock after the news. Revenue of 567.7 million Swiss francs topped the 562.1 million expected by analysts polled by StreetAccount. The filings showed that the shareholders, including the Ontario Teachers' Pension Plan Board, were working with Morgan Stanley to sell a total of about 11 million shares of ViaSat. Rumble — Shares advanced more than 5% after the video sharing company's second-quarter results beat expectations on the top and bottom lines.
Persons: Laxman Narasimhan, Brian Niccol, Morgan Stanley, Carlyle, Riley, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Starbucks, Home Depot, Depot, Dell Technologies, Barclays, Entertainment, Mobile, Citigroup, StreetAccount, ViaSat, Ontario, Board, Garden, Madison, Garden Sports, Baxter, Baxter International, Riley, SEC Locations: China, FactSet, Madison
Check out the companies making headlines in midday trading: JetBlue — Shares sank 13% after the airline said it plans to sell $400 million of five-year convertible senior notes. Hawaiian Electric also reported a consolidated net loss of $1.3 billion, or $11.74 per share, in the second quarter, including charges for goodwill impairment. KeyCorp — The Cleveland-based regional bank surged 13% after The Bank of Nova Scotia agreed to take a minority position, making KeyCorp the top performer in the S & P 500 on Monday. Monday.com — Shares surged about 12%, hitting a new 52-week high, after the Israel-based software company posted better-than-expected second-quarter results. Par Technology — The restaurant technology stock added 1.8% following a Jefferies upgrade to buy from hold.
Persons: , KeyCorp, Monday.com, FactSet, Jeff Smith, Wolfe, Piper Sandler, Robinhood, Alex Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox Organizations: JetBlue —, Hawaiian Electric Industries, Maui, Electric, Bank of Nova, Scotiabank, Street Journal, Starbucks, Qualcomm, Wolfe Research, Apple, Technology —, Jefferies Locations: — The Cleveland, Bank of Nova Scotia, Israel, Par
Should Soccer Make Space for Other Sports?
  + stars: | 2024-08-09 | by ( Rory Smith | ) www.nytimes.com   time to read: +1 min
For almost half a century, the BBC’s broadcast schedule on a Saturday afternoon was both startlingly simple and comfortably unchanging. It amounted, in fact, to just a single word, one that somehow conveyed everything while telling viewers absolutely nothing. That word was Grandstand. From the moment it first appeared in 1958, it was a cornerstone of British broadcasting, a national institution, its bright, jolly theme song burned into the country’s consciousness. Its timings were consistent: “Grandstand” was on (almost) every Saturday, from midday until a little after 5 p.m.Its content, though, was not.
Doximity — Shares jumped more than 38% after the digital health company reported first-quarter earnings that surpassed expectations. That is more than the 22 cents per share that analysts polled by FactSet were expecting. Expedia reported adjusted earnings of $3.51 per share, versus the $3.06 per share LSEG consensus estimate. Akamai Technologies — The stock rose nearly 11% after the cloud company reported better-than-expected second-quarter results. According to LSEG, analysts expected $1.53 per share on $977 million in revenue.
Persons: Sweetgreen, Doximity, FactSet, Unity, LSEG, Versace, Michael Kors, Expedia, Akamai, Insulet, Alex Harring, Samantha Subin, Yun Li, Jesse Pound, Pia Singh, Michelle Fox Organizations: Unity, Capri, Capri Holdings, Revenue, Technologies, Paramount Global, Bank of America
Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.
Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, , Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai
Check out the companies making headlines in midday trading: Crypto stocks — Several bitcoin-related names were hit following the cryptocurrency's drop below $50,000 for the first time since February. Apple — The tech stock dropped more than 5% in the broad market sell-off after news that Warren Buffett's Berkshire Hathaway dumped half its stake in the iPhone maker. Palantir — The software stock fell more than 4% ahead of the company's s quarterly results. Tech stocks — Major tech names dropped during Monday's sell-off. According to LSEG, analysts are expecting a loss of 26 cents per share on revenue of $192 million.
Persons: Robinhood, MicroStrategy, Warren, Berkshire Hathaway, Tyson, Tyson Foods, , Samantha Subin, Yun Li, Sarah Min, Darla Mercado Organizations: Nvidia, Computer, Micro Computer, Semiconductor, VanEck Semiconductor, Micron Technology, Taiwan Semiconductor Manufacturing, Arm Holdings, Apple, Oracle, Tech, Microsoft, Facebook, Meta, Intel —, FactSet, GameStop Locations: Berkshire, Omaha, FactSet .
Cryptocurrencies were among the hardest assets hit this morning as bitcoin slid 15% toward its worst day since June 2022. The turmoil has investors wondering, once again: what happened to the narrative that bitcoin is a store of value, and a hedge against uncertainty? For short- and even medium-term traders it may not be, since it trades so closely with risk assets. "That's, in a way, why [it] tends to have a more solid floor than other risk assets like equities … because of the diversity of their narrative." Before this weekend bitcoin was supported by a strong floor of about $55,000 and has struggled to break through its $70,000 ceiling.
Persons: bitcoin, Bitcoin, it's, Noelle Acheson Organizations: Dow Jones, Nasdaq, CNBC, Marathon
Chevron reported adjusted earnings $2.55 per share on revenue of $51.18 billion. DoorDash reported revenue of $2.63 billion, against a forecast from analysts polled by LSEG of $2.54 billion. Clorox now expects full-year adjusted earnings between $6.55 and $6.80 per share, while analysts surveyed by LSEG expected $6.45 per share. Coterra reported adjusted earnings of 37 cents per share, while analysts surveyed by FactSet were looking for 39 cents a share. Adjusted earnings in the fiscal first quarter topped analysts' estimates, while revenue came in line with forecasts.
Persons: LSEG, Clorox, FactSet, CNBC's Hakyung Kim, Sarah Min, Yun Li Organizations: Chevron — Stock, Chevron, Intel, Amazon, Apple, Wall, LSEG, Coterra Energy, Management Locations: Snapchat, LSEG
LONDON — European markets are set to open mixed on Thursday as investors process a raft of central bank action. The Bank of England announces its latest monetary policy decision at midday London time. Market pricing slightly favors a 25 basis point interest rate cut from the U.K. central bank, kicking off its path of monetary easing. Investors are still processing Wednesday's surprise move from the Bank of Japan, which raised its benchmark interest rate to around 0.25%, its highest level since 2008, and hinted at more tightening to come. The decision powered the yen to a four-and-a-half month high against the U.S. dollar, as Japanese stocks tumbled.
Persons: Germany's DAX, Jerome Powell, Powell Organizations: CAC, Bank of England, U.S, Bank of Japan, U.S . Locations: U.S . Federal,
However, it topped second-quarter revenue estimates and posted a narrower-than-expected loss for the quarter. Teladoc — The telehealth stock moved more than 4% lower after the company posted weaker-than-expected second-quarter revenue. Air Products and Chemicals — The industrial gases company's stock surged more than 10% after beating Wall Street's earnings expectations. MGM Resorts — The stock declined nearly 14% despite the casino operator surpassing second-quarter earnings expectations. Crocs — The stock shares fell about 2% even though the company surpassed second-quarter earnings and revenue expectations.
Persons: Shack, C.H, Robinson, Teladoc, LSEG, Royce —, Royce, Wall, Meta, Carvana, Crocs, Akash Palkhiwala, , Samantha Subin, Yun Li, Michelle Fox Organizations: LSEG, Moderna, Royce, Air Products, Chemicals, Meta, MGM Resorts, MGM, Arm, Holdings, Qualcomm Locations: LSEG ., U.S
Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. LONDON — Several analysts expect the Bank of England to announce an interest rate cut on Thursday, but a lack of clear signaling from the central bank has shrouded the decision in uncertainty. The Bank Rate has been held at a 16-year high of 5.25% since August 2023. The decision will be announced at midday U.K. time and will be followed by a press conference. Thursday will also see the release of the quarterly Monetary Policy Report, which will contain economic growth and inflation projections.
Persons: BOE Organizations: Bank of England Locations: City of London, London, United Kingdom
New York CNN —Stocks tumbled Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high. Wage growth is running at a cooler pace and the unemployment rate is now at its highest point in more than two years, at 4.1%. Investors will get their next look at the state of the economy on Friday morning from the July jobs report. Economists polled by FactSet project a net gain of 175,000 jobs — a touch below the average for the past three months — and for the unemployment rate to hold steady. Powell said Wednesday that any significant weakening in the job market would be concerning.
Persons: Stocks, Dow, , Jerome, Powell, , Chris Zaccarelli Organizations: New, New York CNN, Nasdaq, Labor Department, Independent, Alliance, , Fed, Investors Locations: New York
Match Group — Shares of the Tinder dating app owner moved 13% higher after the company posted second-quarter revenue of $864 million. That is above the $856.5 million estimate that analysts polled by FactSet had expected. Revenue, however, came in below expectations at $6.48 billion, compared to the $6.55 billion analysts polled by FactSet had expected. Marriott reported $6.44 billion, which was below the $6.47 billion analysts polled by FactSet had expected. Bunge — The food stock moved nearly 8% lower after the company posted second-quarter results that missed analysts' expectations.
Persons: Vistra, FactSet, LSEG, Dan Dolev, AutoNation, Kraft Heinz —, Bunge, Robert " Kelly, Ortberg, Dave Calhoun, Rockwell Collins, , Alex Harring, Samantha Subin, Lisa Kailai Han, Hakyung Kim, Jesse Pound, Michelle Fox Organizations: FactSet, Nuclear Regulatory Commission, Nuclear, AMD, Nvidia, Qualcomm, Arista Networks, Mizuho, DuPont de Nemours, DuPont, Humana, Starbucks, LSEG, Marriott, Constellation Energy, Constellation, Boeing, Rockwell, Collins Aerospace Locations: Texas, Japan, Korea, Tuesday's
Check out the companies making headlines in midday trading: JetBlue — The airline soared almost 20% after reporting second-quarter earnings that beat analysts' expectations . The Phoenix-based grocery chain also raised its full-year earnings guidance, forecasting revenue rising between 9% and 10%, compared to analysts' 8.2% consensus growth estimate. Revenue of $695 million was higher than the $686 million analysts has estimated. Lattice Semiconductor — Shares pulled back 8.5% after second-quarter earnings and current-quarter revenue guidance came in below expectations. Howmet Aerospace — The aerospace manufacturer rallied 14% after second-quarter earnings and revenue beat Wall Street estimates.
Persons: Varonis, Woodward, FactSet, LSEG, Howmet, Corning, Gamble —, Stanley Black, Decker, , Alex Harring, Samantha Subin, Lisa Kailai Han, Hakyung Kim Organizations: JetBlue —, New, Revenue, Systems, FactSet, Inc, , Technology, Semiconductor, Bank of America, CNBC, Delta Air Lines, Microsoft, Merck, Howmet Aerospace, Wall, PayPal, LSEG, Procter, Technologies Locations: New York City, LSEG, New Jersey, Cincinnati, Connecticut
Roland Garros, Paris CNN —Coco Gauff looked to be cruising against Donna Vekić in her third-round singles match at the Paris Olympics. The most fraught moment of the match came midway through the second set when Gauff was reduced to tears during a heated exchange with chair umpire Jaume Campistol. A line call on Gauff’s baseline was initially deemed out, but Campistol overruled the decision and handed Vekić a crucial break point. The supervisor also came onto the court and the ensuing debate lasted five minutes, with Gauff wiping tears away from her eyes. The ball was flying a little bit, but after that, I got in rhythm and it was pretty good.”The dispute with the umpire in the second set, Gauff later explained, didn’t alter the result of the match.
Persons: Roland Garros, Paris CNN — Coco Gauff, Donna Vekić, Gauff, Philippe, Chatrier, Jaume Campistol, Campistol, jeers, “ There’s, , ” Gauff, Patricia de Melo Moreira, Maria Sakkari, Marta Kostyuk, “ Donna, “ She’s, , Vekić, ” Vekić, “ I’m, Jessica Pegula Organizations: Paris CNN, Paris, AFP, Getty, Wimbledon ‘, Wimbledon, USA Locations: Paris
Khan Younis, Gaza CNN —Palestinians who fled the southern Gazan city of Khan Younis just over a week ago started to return to their homes Tuesday to find extensive destruction, with many homes and multistory buildings reduced to ruins, after the Israeli military withdrew its forces. The Israeli military withdrew from eastern Khan Younis more than a week after an incursion and heavy bombardment that killed dozens of Palestinians and forced thousands of others to flee. But when Israeli forces began an assault on Khan Younis in early December, those living there were forced to seek refuge further south. Teams working for Gaza’s civil defense directorate recovered 42 bodies in the Bani Suheila area after the Israeli military withdrawal, the organization said on Tuesday. ET) on Tuesday, it had recorded the deaths of 290 Palestinians in eastern Khan Younis and the wounding of more than 700 others since July 22.
Persons: Khan Younis, Bani Suheila, Najm Abu Assi, Ibrahim Muhammad Abu Adwan, , gesturing, Adwan, Khan Younis – Gaza’s, Bani, Um Yahya, , … We’re, Abed Odeh, Khan, Khan Younis – Organizations: Gaza CNN, CNN, United Nations, Gaza’s Ministry of Interior, Palestinian Ministry of Health, Israel Defense Forces, Nasser Locations: Gaza, Gazan, Bani, Israeli, Israel, , Khan Younis, Gaza City, Khan
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