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☆ Stocks making the biggest moves before the bell: General Motors, 3M, Spotify, Verizon and more
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

General Motors — Shares of General Motors rose more than 1% after the automaker raised its full-year guidance and reported second-quarter results that rose on a year-over-year basis. 3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. The company also raised its full-year earnings guidance and reaffirmed its revenue guidance. The airline's full-year earnings guidance of $5.50 to $7.50 per share was roughly in-line with the average analyst estimates of $6.65, according to FactSet. Verizon — The telecommunications giant traded 2.6% higher after reaffirming its full-year guidance.

Persons: Danaher, FactSet, Lilium, Refinitiv, Piper Sandler, Edward Yruma, —, Samantha Subin, Yun Li, Jesse Pound, Sarah Min, Tanaya Macheel Organizations: General Motors, Xerox, FactSet, General, GE, Spotify, European Union Aviation Safety Agency, Alaska Air, Raytheon, Refinitiv, Verizon, Walmart Locations: Alaska

3M posted $7.99 billion in revenue, beating analysts' estimates of $7.87 billion, according to Refinitiv. Elsewhere, RTX reported second-quarter earnings that topped Wall Street expectations, posting $1.29 in adjusted earnings per share on $18.32 billion in revenue. The home appliance company posted revenue of $4.79 billion, lower than the consensus estimate of $4.82 billion, according to Refinitiv. It did beat on earnings expectations, reporting adjusted earnings of $4.21 per share, higher than the $3.76 estimate. The company notched adjusted earnings per share of $3.29, while analysts estimated $2.70 per share.

Persons: Refinitiv, RTX, it's, Biogen, Morgan Stanley, FactSet, General Motors, Invesco, Andrew Schlossberg, BTIG, Sherwin, Williams, Yun Li, Samantha Subin, Sarah Min, Tanaya Macheel, Brian Evans, Alex Harring Organizations: Spotify, Alaska Air, Pratt & Whitney, Airbus, General, GE, Whirlpool, Revenue, LG Electronics, LG Energy, GM, Refinitiv, UPS, Teamsters, Xerox –, Xerox, Packaging Corp, America, Secure

☆ Stocks making the biggest moves midday: AMC Entertainment, Mattel, Chevron, Spotify and more
▼ + stars: | 2023-07-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Knight-Swift Transportation — The freight transportation company's shares gained more than 1%. Knight-Swift reported adjusted earnings of 49 cents per share on revenue of $1.55 billion. Intuitive Surgical reported adjusted earnings of $1.42 per share on revenue of $1.76 billion. The fast-food chain reported mixed quarterly results, including adjusted earnings of $3.08 per share, beating analysts' predictions for $3.05 per share. Spotify — The music streaming company's shares dropped 5.5% after Spotify announced price increases for its premium subscription plans.

Persons: Oppenheimer, Riley, Eric Wold, Barbie, Mike Wirth, Chevron, Swift, Domino's, Becton Dickinson, Raymond James, Gilead, Estée Lauder, Piper Sandler, — CNBC's Hakyung Kim, Yun Li, Alex Harring, Samantha Subin Organizations: AMC, Mattel, Warner Bros, Chevron, Swift Transportation, U.S . Food, Drug Administration, Sirius XM, Deutsche Bank, Nasdaq, Spotify, Gilead Sciences Locations: New York, U.S, Gilead, China

☆ Elon Musk reportedly microdoses ketamine to treat depression and takes full doses of the drug at parties
▼ + stars: | 2023-06-27 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Elon Musk has told people he microdoses ketamine for depression, The Wall Street Journal reported. On Monday, Musk said on Twitter that ketamine is a "better option" than traditional drugs. Elon Musk has told people he is taking small doses of ketamine to treat depression and has been seen taking the drug recreationally as well, according to a recent report from The Wall Street Journal. The publication said the billionaire takes full doses of the drug at parties, citing individuals who have seen Musk use ketamine as well as other people with direct knowledge. But, the Tesla CEO tweeted about the use of ketamine to treat depression less than two hours after The Journal's report was published.

Persons: Elon Musk, Musk, US Food and Drug Administration hasn't, Sergey Brin, Brin, Spokespeople, Joe Rogan, Tesla, he'd, David Marglin Organizations: Street Journal, Wall Street, Drug Foundation, US Food and Drug Administration, Fund, SpaceX, Spotify, Founders Fund, New Times, New York Times, Bay Area, Times Locations: Silicon Valley, Los Angeles, San Francisco

☆ Stocks making the biggest moves premarket: Spotify, FedEx, Tesla, Coinbase and more
▼ + stars: | 2023-06-21 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading. MicroStrategy — The cloud services firm with exposure to bitcoin added 2.9% in premarket trading, following other names higher. The company reported an adjusted $2.13 per share against estimates of $1.78, according to FactSet. Spotify — Shares of the music streaming service rose about 2% in premarket trading after Wolfe Research upgraded Spotify to outperform from peer perform. Exact Sciences — Shares added 6% on news of research agreements with The MIT and Harvard Broad Institute to exclusively use the company's molecular residual disease diagnostic testing platform.

Persons: Mike Lenz, Coinbase, MicroStrategy, Tesla, Wolfe, Price, Rivian, Jesse Pound Organizations: FedEx Corp, FedEx, Riot, U.S . Securities, Exchange Commission, Barclays, Winnebago Industries, Spotify, Wolfe Research, MIT, Harvard Broad Institute Locations: Midtown, New York, U.S

☆ Stocks making the biggest moves midday: Palo Alto Networks, 3M, Amedisys, Target and more
▼ + stars: | 2023-06-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

A view of the exterior of the new Dutch head office of international technology company 3M in Delft, Netherlands, November 5, 2014. EPAM Systems — Shares of the software engineering firm tumbled 18% after it cut guidance amid further deterioration in near-term demand. Amedisys — The health care company's shares rallied 14% after it received an unsolicited buyout offer from Optum, a unit of UnitedHealth , to acquire Amedisys for $100 a share in cash. ImmunoGen — The biotechnology company's shares gained 5% after it announced results from ovarian cancer treatment Elahere showing a roughly 35% reduction in the risk of disease progression or death compared to chemotherapy. Dollar General — Shares fell 2.7% after Morgan Stanley downgraded the discount retailer's stock to equal weight from overweight Sunday.

Persons: Dow, Coinbase, Binance, Changpeng Zhao commingled, Robinson, Ford's David Bozeman, Morgan Stanley, KeyBanc, —, Yun Li, Alex Harring, Jesse Pound, Samantha Subin, Brian Evans Organizations: Palo Alto Networks, Dow Jones, Dish Network, 3M, Bloomberg, U.S . Securities, Exchange Commission, Care, Ford, Equitrans Midstream Corporation, Ford Motor Co, Citi, Spotify, Target, Apple —, Developers Conference, Apple Locations: Delft, Netherlands, Optum, Bozeman, U.S, Cupertino , California

☆ Stocks making the biggest moves premarket: Rivian, Kohl's, Novavax and more
▼ + stars: | 2023-03-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Revenue for the quarter came in at $663 million, falling well below analysts' estimates of $742 million, according to Refinitiv. Sarepta Therapeutics — The biotech stock soared by 17% after Morgan Stanley upgraded Sarepta shares to overweight from equal weight. Kohl's reported a loss of $2.49 per share on $5.78 billion of revenue. Analysts surveyed by Refinitiv had expected positive earnings of 98 cents per share on $5.99 billion of revenue. Monster reported $1.51 billion in revenue, falling short of analysts' expectations of $1.6 billion.

☆ Stocks making the biggest moves midday: Lyft, Spotify, Expedia, Yelp and more
▼ + stars: | 2023-02-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Expedia — The travel company's stock toppled nearly 8% after falling short of analysts' revenue and earnings expectations for the recent quarter. Yelp — Yelp's stock jumped 4% after fourth-quarter revenue beat analysts expectations, according to Refinitiv. Deutsche Bank — Shares fell 3% after Bank of America downgraded Deutsche Bank to underperform from neutral, saying the European bank is "struggling to improve profitability." The decline in shares came despite a top-and-bottom line beat on analysts' expectations, according to FactSet. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter came in below analysts' expectations, according to FactSet.

☆ Stocks making the biggest moves premarket: Tyson Foods, PayPal, Children's Place and more
▼ + stars: | 2023-02-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Tyson Foods – Shares of the food processing giant suffered a 6% drop in premarket trading after the company reported weaker-than-expected results for the first quarter. Analysts expected $1.34 per share in earnings and revenue of $13.52 billion, according to Refinitiv. PayPal — Shares of the payments company fell 2.6% in premarket after Raymond James downgraded the stock to market perform from outperform. Lyft — Shares of the ride-hailing company fell about 2% in premarket trading after Lyft was downgraded to hold from buy at research firm Gordon Haskett. Energizer Holdings — The battery maker's stock fell 6% after revenue and earnings for the recent quarter fell short of expectations, according to analysts surveyed by FactSet.

☆ Spotify's CEO sent a memo announcing layoffs. It also contained 'a powerful example of toxic positivity.'
▼ + stars: | 2023-01-23 | by ( Shana Lebowitz | ) www.businessinsider.com time to read: +5 min

Spotify is laying off about 6% of its employees, CEO Daniel Ek announced in a memo. This might as well have been the message Spotify CEO Daniel Ek shared in a memo announcing layoffs at the company. Of Ek's comment about doing his best work, Galinsky said, "That's just completely lost here." "In hindsight, I was too ambitious in investing ahead of our revenue growth," Ek wrote. The standard CEO memo announcing layoffs can seem formulaic, Galinsky said.

☆ Stocks making the biggest moves midday: Wayfair, Meta, Apple, Spotify, Qualcomm and more
▼ + stars: | 2023-01-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Wayfair — Shares of the furniture retailer jumped 24.1% on Monday after Wayfair received upgrades from multiple Wall Street firms, include a double upgrade to overweight from underweight at JPMorgan. Spotify — Spotify gained 3.1% after the company sent an internal memo to staff on Monday announcing plans to lay off 6% of its global workforce, or about 600 employees. Western Digital — Shares jumped 7% after Bloomberg reported that merger talks between Western Digital and Kioxia are advancing. Western Digital would spin off its flash business and merge it with Kioxia in a separately traded company, the report said. Evoqua shares jumped more than 14% following the announcement.

☆ Outperforming asset manager picks the stocks set to win as margins get squeezed
▼ + stars: | 2022-11-25 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

"Consumers are going to have their purse strings pulled by utility bills, higher mortgage costs, higher petrol prices, and there's going to be margin squeeze." He said wage pressure and higher commodity prices were particularly challenging and could eat into companies' margins. Luxury Luxury stocks are another favorite for Armstrong. Moreover, the "massive" profit margins of luxury companies are also insulated from increases in input prices, he added. Within the space, Armstrong's fund owns French luxury goods companies LVMH and Hermes , given their "defendable margins" and the ability to be price setters.

☆ Stocks making the biggest moves midday: Harley-Davidson, Visa, Microsoft, Biogen and more
▼ + stars: | 2022-10-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Harley-Davidson — Shares of the motorcycle company climbed 13% after Harley reported quarterly earnings beat top- and bottom line estimates. The per share loss was 0.99 euros per share on 3.04 billion of euros in revenue. Analysts surveyed by Refinitiv were expecting a loss of 0.85 euros per share and 3.02 billion of euros in revenue. Visa reported earnings of $1.93 per share on revenue of $7.79 billion. CMG reported revenue of $2.22 billion versus the $2.23 billion expected by analysts surveyed by Refinitiv.

☆ Stocks making the biggest moves after hours: Alphabet, Microsoft, Texas Instruments and more
▼ + stars: | 2022-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Alphabet — The search engine parent dropped 5.8% after Alphabet missed third-quarter earnings expectations, and reported a decline in YouTube ad revenue. Texas Instruments — Shares declined 5.7% after TI's Q4 revenue and earnings forecasts missed the average analyst's consensus estimate, according to FactSet. Texas Instruments posted Q3 revenue of $5.24 billion, greater than the $5.14 billion forecast, according to consensus estimates from Refinitiv. Spotify — The streaming stock dropped 6.9% after Spotify's results failed to meet earnings expectations, reporting a loss of 98 cents per share. Analysts were expecting a loss of 84 cents per share, according to consensus estimates on FactSet.

☆ How a 27-year-old country-music star making up to $75,000 a month in streaming royalties got his start on TikTok
▼ + stars: | 2022-02-03 | by ( Matt Craig | ) www.businessinsider.com time to read: +11 min

Spencer Crandall is a country-music artist who got his start primarily on TikTok. Thanks to relentless posting, he's attracted a wide audience of fans to promote his tour. He's an independent artist, not signed to any record label or publishing deal. He said his relentless promotional strategy included posting three to five TikTok videos most days; posting daily on Facebook, Instagram, and Twitter; and maintaining a YouTube channel and a podcast. Through sheer force of will he's built large followings — more than 2.2 million on TikTok — and converted those audiences into fans.

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