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2 Daniil Medvedev was knocked out by Brazilian qualifier Thiago Seyboth Wild in the first round on Tuesday. Playing on this court against this kind of player and beating him is a dream come true,” Seyboth Wild, 23, said during his on-court interview. After winning match point with another crushing forehand, the beaming Brazilian turned to the crowd in disbelief, before raising his arms aloft. I started cramping in the second set. I did my best and tried to play my best tennis and it worked,” Seyboth Wild said.
Trump has backed away from a nationwide law on abortion, saying the issue is best left to states. Asa Hutchinson, and Sen. Tim Scott of Florida — declined to draw a strong contrast with Trump on abortion. That statement quickly upset many on the anti-abortion right. Maggie DeWitte, the director of an Iowa anti-abortion group, had a table that included "free babies." "We need to convince more people that the life position is the right position," said Horman.
Pascal Mora | Bloomberg | Getty Imageswatch nowHowever, the downward spiral of Credit Suisse's share price and mounting asset outflows were underway long before the collapse of Silicon Valley Bank earlier this month. Swiss regulator FINMA has come under fire for allowing the situation to deteriorate as the bank spent years mired in losses and scandal. Mark Yallop, chairman of the U.K.'s Financial Markets Standards Board and former U.K. CEO at UBS, told CNBC on Tuesday that he agreed with the broad assessment that Credit Suisse's downfall was "idiosyncratic." "It's unfortunate that the problems with some of the smaller U.S. banks in the last two or three weeks happened at the same time as this issue with Credit Suisse but the two are completely different and very largely unrelated," he said. By contrast, the Swiss banking and regulatory system has come under fire.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis has been a long time coming for Credit Suisse shares, analyst saysSteven Glass, managing director and analyst at Pella Funds Management, says the plunge of Credit Suisse shares has been a long time coming.
Glass highlighted three copper or copper-related stocks that could get a boost from the weaker dollar. Glass also named Chilean copper mining group Antofagasta , and metals and mining firm Boliden. "There just has not been enough investment in copper," Glass told CNBC's "Street Signs Asia" on Tuesday. Glass isn't the only one bullish on copper. Three-month copper on the London Metal Exchange was trading around $9,418 a metric ton on Wednesday, up from around $8,000 a metric ton in November.
Now, a precipitous plunge in its share price in 2022 puts its value well under $400 billion. At the end of last week, the EV maker cut prices in the U.S. and throughout Europe in what's being viewed as an effort to boost sales volumes. But there have also been some self-inflicted pains too: the long-running Twitter saga ; Musk's massive sale of Tesla shares ; and a capacity expansion in the face of slowing demand. Tesla alternatives For Deutsche Bank, Chinese EV maker Nio is the only pure-play name among its top automotive picks for 2023. Nio shares ended Friday at $11.81, down over 60% over the last year.
The once-hot chip sector was hit hard in 2022, with the PHLX Semiconductor Sector Index falling around 37% over the year. And one name keeps coming up as a top pick: Taiwan Semiconductor Manufacturing Company (TSMC). But analysts overall remain positive, with 90% of those covering the stock giving it a buy rating, according to FactSet, and average price target upside of 37%. Morgan Stanley also named TSMC as a top pick in a December note, giving it a price target of $700, or upside of 55%. It explained that the semiconductor industry must continue to invest at a high level in order to achieve future growth, however "investment efficiency" has deteriorated.
The yield curve is already signaling that a recession could be on the horizon. I think that's pretty clear," fund manager Steven Glass told CNBC's "Street Signs Asia" Monday. So, we think the bond market suggests that could likely be a recession in probably the next year," Glass added. An inverted yield curve occurs when interest rates on shorter-term U.S. Treasury bonds are higher than longer-term ones. With inflation likely to remain higher-for-longer in the near term and companies facing earnings pressure, Glass said he is focusing on companies with earnings visibility.
Apple The Switzerland-based fund manager says Apple's shares have performed relatively better than Microsoft's because it has spent $90 billion buying back shares in the last financial year, compared to Microsoft's $30 billion of buybacks. Dodds believes this masks underlying weaknesses in Cupertino-headquartered Apple's business. Microsoft On the other hand, Dodds highlighted steps that Microsoft is taking that make it a better investment. Whereas Dodds said Apple relies on a handful of highly profitable revenue streams to keep up growth. "They rely a lot on the consumer continuing to convince themselves that an Apple 14 is a must have over an Apple 13."
Two investors face off on their bull-or-bear case for Apple
  + stars: | 2022-12-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTwo investors face off on their bull-or-bear case for AppleJordan Cvetanovski of Pella Funds Management and Ross Gerber of Gerber Kawasaki debate whether investors should buy or avoid Apple.
CNBC Stock World Cup: SoftBank vs. JPMorgan — who wins?
  + stars: | 2022-12-08 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Stock World Cup: SoftBank vs. JPMorgan — who wins? In CNBC's Stock World Cup challenge, Jordan Cvetanovski of Pella Funds gives his take on whether SoftBank or JPMorgan is a better bet in giving investors a greater total return in the next year.
Bear case: growth set to be 'harder' Jordan Cvetanovski, chief investment officer of Pella Funds Management, believes that growth for Apple is "going to be harder and harder and harder going forward." "They rely a lot on the consumer continuing to convince themselves that an Apple 14 is a must have over an Apple 13," he said. Bull case: Apple is 'solid as a rock' Apple is a company with "a lot of room for innovation," said Ross Gerber, CEO of investment management firm Gerber Kawasaki. Gerber said that when assessing the risk-reward of the stock, it still "makes for a good place in a portfolio." "So you own these different stocks in your portfolio, but I think Apple fits that part of your portfolio perfectly."
I don't think people realize just how inverted the 2-10 year [Treasury yield] is at the moment, which is really historically a strong signal of an imminent recession," Glass told "Squawk Box Asia" on Monday. 'Cheap' stocks to buy In this environment, Glass selected nine stocks that he said, "look particularly cheap given their growth outlook." His favorites are major U.S. discount retailer Dollar General , investment company 3i whose largest asset is European discount retailer Action, and B & M Value Retail. On 3i, he noted that Action accounts for 50% of its investment portfolio, and the discount retailer is a "beneficiary of rich-poor divide" and consumers trading down. He also said that Action is "recession and inflation resistant," with an attractive valuation at a more-than 20% discount to its net asset value.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailValuations are critical, says asset manager, who names 'cheap' stocks to buySteven Glass, managing director of Pella Funds Management, says it's essential for investors to look at stock valuations right now. He names stocks in one sector that "makes sense" to buy in the current environment.
But with the tech-heavy Nasdaq down more than 30% year-to-date, analysts say there are some bright spots that could offer opportunities to investors. Two stand-out Big Tech names All the major tech stocks declined sharply following the bad earnings reports last week – except for Apple , which saw its stock rise. "For me, the legacy tech companies is a melting ice cube in a lot of ways if you're in the wrong one. Buy the 'right type' of Big Tech stock There are two types of mega tech companies, according to Yoshikami. In comparing the two types of companies, Yoshikami said he likes companies that are not transitioning.
Rep. Mariannette Miller-Meeks is running against Democratic state Rep. Christina Bohannan in Iowa's 1st Congressional District. IA-03 HouseRepublican Rep. Mariannette Miller-Meeks faces off against Democrat Christina Bohannan in Iowa's 1st Congressional District. Iowa's 1st Congressional District candidatesDon't say your vote doesn't cout: Miller-Meeks, first elected in 2020, won the election by just six votes after a recount. Bohannan, Miller-Meek's challenger, currently represents the 85th District in the Iowa House of Representatives. Voting history for Iowa's 1st Congressional DistrictIowa's 1st Congressional District covers most of central and southeastern Iowa and includes Iowa City, Davenport, Pella, and Burlington.
There is huge demand for cars in both the U.S. and China -- the world's two largest autos markets -- according to fund manager Steven Glass, who named one automaker to cash in. In the U.S. alone, the shortfall stands at five million vehicles, Glass, managing director and analyst at Pella Funds Management, told CNBC's Street Signs Asia on Monday. How to play it His top pick to play the sector is German automaker BMW . The Bavarian automaker aims to have two million EVs on the roads by 2025 and estimates half of its car sales to comprise EVs by 2030. Of this investment, $1 billion has been earmarked to prepare BMW's existing U.S. manufacturing facility in South Carolina to produce EVs.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: Where one fund manager is putting his money during the market madnessCNBC's Will Koulouris quizzed Pella Funds Management’s Jordan Cvetanovski on how to invest during the market turmoil. Cvetanovski, who is CIO and portfolio manager, shared his tactics for not just making money – but also finding responsible investments for the long term.
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