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☆ Goldman's global head of equity research shares 2 fundamental issues with the AI craze — and how to prepare for a bubble pop
▼ + stars: | 2024-07-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +10 min

And to him, AI doesn't exhibit the signs of a truly groundbreaking innovation like the ones he's seen before. AdvertisementAI comes with a trillion-dollar price tagIt's no secret that AI technology isn't cheap. Advertisement"A lot of people say, 'Well, we'll be able to replace call centers with AI,'" Covello said. However, once it encounters unfamiliar situations outside its training set, AI doesn't have the ability to reason like humans do. If AI doesn't actually have the ability to conduct higher-order reasoning, it won't leave a trillion-dollar impact on the economy.

Persons: —, Goldman Sachs's Jim Covello, Covello, Goldman Sachs, it's, buildout, we'll, Tesla, who've Organizations: Service, Business, Investors, Nvidia, Amazon, CVS, Big Tech Locations: Netherlands

☆ Top Democrat Raskin privately encouraged Biden to reconsider reelection campaign
▼ + stars: | 2024-07-18 | by ( Betsy Klein | Pamela Brown | ) edition.cnn.com time to read: +5 min

He could have made himself not a future president but a future monarch, in effect,” Raskin wrote. Raskin continued, quoting Biden, “’In America,’ you say, ‘genuine leaders — democratic leaders, with a small ‘d’? Everything else pales in comparison to this struggle, even your magnificent policy achievements.”He framed Biden’s choice about the future of his reelection campaign as a political one. They are also political questions because both political leaders and tens of millions of voting citizens have formed judgments based on the events of the last few weeks. Raskin added, ”Your situation is tricky because you are both our star pitcher and our Manager.

Persons: Jamie Raskin, Joe Biden, George Washington, Pedro Martinez, Raskin’s, Biden, “, ” Raskin, “ George Washington, Raskin, ’ ” Raskin, ”, “ Martinez, ” Martinez Organizations: CNN —, Red Sox, New York Times, CNN, America, ”, Continental Army, New York Yankees, Boston Red Sox, Yankees, Caucus Locations: Maryland, Valley Forge , Pennsylvania, Washington, America

☆ What if the A.I. Boosters Are Wrong?
▼ + stars: | 2024-07-13 | by ( Bernhard Warner | Sarah Kessler | ) www.nytimes.com time to read: +1 min

would contribute only “modest” improvement to worker productivity, and that it would add no more than 1 percent to U.S. economic output over the next decade. That pales in comparison to estimates by Goldman Sachs economists, who predicted last year that generative A.I. The bullish camp has great hopes for A.I. Sam Altman of the ChatGPT maker OpenAI sees A.I. of Nvidia, the dominant maker of the chips used to power A.I., says the technology has ushered in “the next industrial revolution.”

Persons: Daron Acemoglu, Acemoglu, Goldman Sachs, Sam Altman, OpenAI, Jensen Huang, ” Organizations: A.I, Nvidia Locations: O.E.C.D

☆ When will AI's stock-market dominance fade? Goldman says watch this key signal.
▼ + stars: | 2024-07-11 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

With that in mind, the authors of the note — led by Ryan Hammond — are closely watching downward revenue revisions for signs the AI spending isn't paying off. "Today's hyperscalers will eventually be required to prove that revenues and earnings will be generated from their investments," analysts wrote. "Investors have expressed uncertainty about the return on those investments for the mega-cap tech stocks, but these stocks remain extremely popular," the analysts wrote. Goldman also points out that, according to a measure it tracks, just 5% of companies are currently using AI to produce goods and services. "Adjusting for profits of these companies, the AI capex cycle still pales in comparison to the tech bubble," the analysts wrote.

Persons: Goldman Sachs, —, they'll, Goldman, Ryan Hammond — Organizations: Meta, Microsoft, Service, Nvidia

☆ The AI chip race is minting thousands of new millionaires in Taiwan, but not everyone is benefiting
▼ + stars: | 2024-07-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

This number could surge by 47% to about 1.16 million millionaires by 2028, UBS predicts, leading the 56 global markets the bank analyzed in its report. AdvertisementThe US was home to nearly 22 million millionaires last year, per UBS. That number is expected to grow 16% to 25.5 million millionaires over the next five years. UBS attributes Taiwan's wealth growth to its semiconductor chip industry, which is "set to reap the rewards of the boom in artificial intelligence." The rise of the chip behemoth has created an entire tech ecosystem in Taiwan, much of which is centered on hardware.

Persons: —, TSMC, Ma Tieying Organizations: Service, UBS, Business, Taiwan Semiconductor Manufacturing Company, chipmaker, Apple, Nvidia, New York Stock Exchange, DBS Locations: Taiwan, Swiss, China

☆ Financial ETF nears substantial breakout, according to the charts
▼ + stars: | 2024-07-10 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

The charts indicate the ETF could be nearing a substantial breakout attempt. The ETF is comprised of five industries: financial services (33%), banks (26%) capital markets (21%), insurance (16%) and consumer finance (4%). Daily Bullish Pattern First, here's the daily chart. The SPX finally eclipsed its 2007 high in 2013; the XLF reclaimed its 2007 high in 2021, but that didn't hold. Putting it all together, a successful daily pattern breakout also would help the much bigger weekly pattern break out, which would finally create distance from the 2007 high and prompt a multi-decade breakout.

Persons: Banks, XLF, it's, that's, Frank Cappelleri Organizations: CNBC, NBC UNIVERSAL

☆ Confessions from 5 women who've dated men in finance
▼ + stars: | 2024-07-04 | by ( Maria Noyen | ) www.businessinsider.com time to read: +14 min

Read previewLast week, I went looking for women dating men in finance. Here, five women with firsthand experience dating a man in finance share their experiences. Some women dating men with demanding jobs discussed the challenges, from getting stood up due to work running late and endless conversations about golf and money. AdvertisementShe said she understands why people trying to pursue relationships with men in finance might wonder: "Does this guy even like me? He's been 'saving' his entire life for meAniesia Williams — a 43-year-old entrepreneur and chief client officer for a tech firm Epigen — had little experience dating men in finance.

Persons: —, Megan Boni, Boni, David Guetta, Finance Bro, Boni's TikTok, They're, Cristina Vanko gravitates, Vanko, Goldman Sachs, Spencer Platt, bro, Weren't, they've, Bro, Bob Thomas, Getty, Summer, she's, hasn't, it's, TikTok, He's, Aniesia Williams, Epigen —, Williams, Dennis Morrow, Morrow, Aniesia Williams Williams Organizations: Service, Trust, Business, Finance, League, Labor Statistics, JPMorgan, Getty, Rolex, Washington DC, Hamptons, BI, Bank of America Locations: Patagonia, United States, NYC, Berlin, Los Angeles, Chicago, Boston, Washington, Bumble, Raleigh , North Carolina, Charlotte, Raleigh

☆ The Abortion Case That Has Much to Say About the Supreme Court - The New York Times
▼ + stars: | 2024-07-03 | by ( Linda Greenhouse | ) www.nytimes.com time to read: +1 min

Last Thursday, nine weeks after hearing argument, the court dismissed the case as “improvidently granted,” meaning that the court, upon reflection, should not have accepted the case for review. The litigation in the lower federal courts involved a dispute over Idaho’s defiance of that federal law. The case now returns to the lower courts, where it stood before the Supreme Court intervened on the state’s behalf. Dismissal of a case, which happens maybe once or twice a term, has no formal meaning as a precedent and usually not much meaning at all. But it seems to me that the fate of this particular case, Moyle v. United States, has much to tell us about the Supreme Court at a supremely fraught moment.

Persons: “ improvidently, Donald Trump, Moyle Locations: Idaho, United States

☆ Biden’s mental fitness could have been better covered leading up to the debate, some White House reporters acknowledge
▼ + stars: | 2024-07-02 | by ( Hadas Gold | ) edition.cnn.com time to read: +10 min

After Biden’s lackluster performance last week, some are questioning whether the White House press corps dropped the ball on fully covering Biden’s limitations. Nearly every media outlet has reported on growing concerns about Biden’s age well before the debate. Several White House reporters told CNN that the coverage of Biden’s age and his mental stamina should have pushed harder. The White House press shop has also been very “aggressive” and “fairly successful” in mitigating coverage of concerns over the president’s age, said another White House reporter who works for a different publication. “I think the press, most of the White House press, did suffer from a bit of lack of curiosity,” one of the reporters said.

Persons: Joe Biden’s, Biden, –, Donald Trump’s, Robert Hurr, “, Martha Joynt Kumar, Kumar, George Stephanopoulos, it’s, ” Alex Thompson, ”, Vlodomyr Zelensky, Biden’s, Trump’s –, Trump Organizations: CNN, White House, Wall, New York Times, The Times, White, Towson University, Trump, ABC News, House, gaslight, Ukrainian, Air Force, Biden Locations: American, ”, Trump’s

☆ How the Panthers avoided historic collapse to win their first Stanley Cup with 2-1 Game 7 win: 5 takeaways
▼ + stars: | 2024-06-24 | by ( Michael Russo | Daniel Nugent-Bowman | ) www.nytimes.com time to read: +8 min

The Panthers were also trying to avoid becoming the first back-to-back Stanley Cup losers since the 1977 and 1978 Boston Bruins. Canada’s Stanley Cup drought has now reached 31 years. After being largely silent in the past three games, the Panthers’ big guns showed up big in the make-or-break final game. Aleksander Barkov became the first Finnish captain in NHL history to lead his team to a Stanley Cup. Panthers arena flooded with Oilers fansIt’s a rarity to see a home arena invaded by visiting fans in the Stanley Cup Final, let alone in a Game 7.

Persons: Connor McDavid, Canada’s, Carter Verhaeghe, Sam Reinhart, Verhaeghe, Reinhart’s, Dmitry Kulikov, Mattias Janmark, McDavid, Conn Smythe, Sergei Bobrovsky backstopped, Paul Maurice, Maurice, Aleksander Barkov, “ Mr, Clutch ”, Vladimir Tarasenko, Clutch, Matthew Tkachuk’s, CARTER VERHAEGHE, ino H, ince, aron E kblad, hird, rick Organizations: NHL, Florida Panthers, Edmonton Oilers, Amerant Bank, Panthers, Oilers, Toronto Maple Leafs, Boston Bruins, Edmonton, Eastern, Stanley, ino H ard, ust Locations: Fla, Florida

☆ Corporate America may soon be handed a large bill for all the buybacks it has been doing
▼ + stars: | 2024-06-12 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The public comment period for the Treasury Department's rule formalizing the 1% tax on buybacks closed Tuesday. That means some of the largest companies in America may soon be getting a tax bill. The goal seems to be to discourage corporate America from buying back stock and instead invest more in hiring people and making capital expenditures. "We have a good shot at beating that old record this year," Silverblatt from S & P Global tells me. Higher growth means companies will be more willing to invest in hiring more people and making capital expenditures.

Persons: Joe Biden, Howard Silverblatt, Silverblatt, Biden Organizations: Treasury, Apple, Microsoft, Exxon Mobil, Wells, Chevron, & $ Locations: America

What Ukraine Has Lost A drone photograph shows numerous severely damaged buildings with labels highlighting residential buildings, a football field and a high school. This is the first comprehensive picture of where the Ukraine war has been fought and the totality of the destruction. More buildings have been destroyed in Ukraine than if every building in Manhattan were to be leveled four times over. In mid-May, the Russians bombed some towns in northeastern Ukraine so ferociously that one resident said they were erasing streets. “No matter how unpatriotic it may sound, there’s not much future for her in Ukraine,” Ms. Hrushkovska said.

Persons: it’s, Corey Scher, Den, Finbarr, Jamon, Diego Ibarra Sánchez, Marinka, ”, Iryna Hrushkovksa, “, Hrushkovska’s, Hanna Horban, ” Ms, Hrushkovska, ” Marinka, Celestino Arce, Tyler Hicks, Laura Boushnak, Finbarr O’Reilly, Horban, Horban’s, Vova, Svitlana Moskalevska, Olha Herus, “ Fish, Jan, Serhii Nuzhnenko, Gleb Garanich, Leonid Ragozin, Varvara, Herus’s, Tetiana, Ms, Herus, Reni, Izmail, Vavara, Varvara Hrushkovska, Hanna Kovalenko, “ It's, ” Artem Hoch, Danylo Organizations: New York Times, City University of New York Graduate Center, Den Hoek of Oregon State University, The New York Times, Copernicus Sentinel, Maxar Technologies, Google, Russia’s Defense Ministry, Ukraine ., Museum of Local, People’s Museum, Getty, Ukrainian Army, Reuters, SHEVCHENKA, SHCHORSA, New York, Kyiv Kharkiv, Ukrainian, Chernihiv Kyiv Kharkiv UKRAINE Dnipro, Kherson Mariupol, Kyiv Kharkiv UKRAINE Mariupol, Microsoft Bing, Institute for, American, The New York Locations: Ukraine, Russia, Marinka, Kyiv, Mariupol, Rubizhne, Kherson, Kharkiv, Manhattan, Dresden, London, Gaza, Den Hoek of, Geneva, Donetsk, Izium, Den Hoek, Crimea, Russian, Donetsk City, Vilkhivka, Huliaipole, “, Ukrainian, Berlin, Pavlograd, Soviet Union, NurPhoto, Kolos, Marinka — Donetsk, Donetsk People’s Republic, іі, Marinka’s, Irpin, Ukraine’s, Bakhmut, Ukrainians, Zaporizhzhia, Orikhiv, Dnipro, Nova, Oleshky, Donbas, Chernihiv Kyiv Kharkiv UKRAINE, CRIMEA, Kyiv Kharkiv UKRAINE

☆ A new Howitzer ammo plant nearly doubles US production, but it's still not nearly enough to match Russia's output
▼ + stars: | 2024-05-30 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewThe US has opened a new factory for Howitzer ammo near Dallas, which aims to pump out 30,000 of the 155mm shells a month as the Ukraine war chews through Western stocks. The new facility at max capacity would bump total production to 66,000 shells a month for the US. Kofman told the outlet that while the Mesquite plant would be important for long-term production, Russia would likely still be producing more ammo than the West even if the US hits its 2025 goal. The US and Europe have sent Ukraine more than 3 million 155mm artillery shells since the war began. With Washington and its allies expected to produce about 1.3 million rounds in 2024, that would be about a third of Russia's forecast capacity at triple the cost.

Persons: —, John Ismay, Ismay, Michael Kofman, That's, Kofman, Doug Bush Organizations: Service, General Dynamics, The New York Times, Business, Texas, US Army, CNN, Kyiv, Carnegie Endowment, International, European Union, Sky News, Bain & Company, Washington, Press, Pentagon Locations: Dallas, Ukraine, Mesquite , Texas, The, Pennsylvania, Moscow, Kyiv . Washington, Israel, Europe, Russia, Mesquite, Kyiv

☆ This unexpected corner of the market offers quality dividend payers, Bank of America says
▼ + stars: | 2024-05-22 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +3 min

Investors hunting for income ought to look to small-cap stocks for a few high-quality dividend payers, according to Bank of America. There are names within it that offer quality dividend yields, according to Jill Carey Hall, equity strategist at Bank of America, in a Monday research report. Further, once the Federal Reserve begins cutting rates, yields paid on cash will fall, and that will make these dividend payers even more attractive for income. Finally, Bank of America added Essential Properties Realty Trust to its list of buy-rated dividend payers. The stock has a dividend yield of 4.2%, and shares are up 7.5% in 2024.

Persons: Russell, Jill Carey, Peter Galbo, Utz, Alton Stump, Stump, Nick Joseph Organizations: Bank of America, Nasdaq, Federal Reserve, Brands, Properties Realty Trust, Citi Locations: West, Midwest, Southwest, Hanover , Pennsylvania, comps

☆ A recession in early 2025 could send the stock market tumbling 30%, strategist says
▼ + stars: | 2024-05-07 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A recession by early next year could send stocks down 30%, says BCA strategist Roukaya Ibrahim. AdvertisementThere are two factors signaling a recession by year-end or early 2025, and a downturn could spark a 30% correction in stocks, according to BCA strategist Roukaya Ibrahim. "But eventually, the unemployment rate is going to take higher and that's going to lead to concerns about a recession." Ibrahim isn't alone in calling a recession and a steep plunge in the stock market. Wall Street veteran Gary Shilling, known for predicting the mid-2000s mortgage bubble, is also forecasting a 30% stock market crash by the end of this year, with a recession likely to crush speculative bets that have piled up in recent years.

Persons: Roukaya Ibrahim, Gary Shilling, —, Ibrahim, Ibrahim isn't Organizations: Wall Street, Service, Bloomberg Locations: Friday's, China, Europe

☆ How to handle being the subject of a Taylor Swift diss track, according to PR experts
▼ + stars: | 2024-05-07 | by ( Callie Ahlgrim | ) www.businessinsider.com time to read: +12 min

For a celebrity, being referenced in a Taylor Swift song can cause a PR crisis. Advertisement"He's showing due deference to the power of Taylor Swift," Nierman said. The Kim Kardashian method: Let anonymous sources do the talkingTaylor Swift and Kim Kardashian at the 2015 VMAs. "I don't think Taylor Swift really needs to negotiate with anyone. Advertisement"Everything is done for a reason and any person would be a fool to bet against or to cross Taylor Swift," Nierman said.

Persons: Taylor, Joe Alwyn, Matty Healy, Kim Kardashian, —, Taylor Swift, Swift, Healy, TMZ, reveling, artfully, Robert Kamau, who's, Evan Nierman, Banyan, John, recoils, Erik Bernstein, Bernstein, hasn't, Nierman, Healy's, what's, Jackson Lee, Alwyn hasn't, Alwyn, Kevin Mazur, Aimee, aIMee, KIM, Kardashian, it's, John Mayer Organizations: BI, Service, Poets Department, Getty, Department, Swift, Rights Locations: New York City, London, Cincinnati , Ohio

☆ How Nvidia is dominating an AI-obsessed earnings season without even reporting yet
▼ + stars: | 2024-05-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Nvidia is dominating earnings season, and it hasn't even reported results yet. Other mega-cap tech giants have been mentioning on earnings calls that they're boosting investment in AI infrastructure. AdvertisementThe company is gearing up for the release of its next-generation AI chip, named Blackwell, later this year. Nvidia has competition, but it still dominatesRecent earnings results from Nvidia's rival, AMD, suggest that most of this business is going to Nvidia and not its competitors. AdvertisementInvestors will have to wait until after the market close on May 22 to hear what Nvidia's earnings results actually are.

Persons: Blackwell, Elon Musk, We've, Musk, Tesla, Meta, Yann LeCun, John Werner, Brian Olsavsky Organizations: Nvidia, Microsoft, Tesla, Meta, UBS, Blackwell, AMD, Intel, Gaudi Locations: Meta

Joe Biden has tried to stake out a middle ground as protests spread across college campuses. Unlike other lawmakers of his generation, Biden largely stayed away from the Vietnam War protests that sparked upheaval on college campuses nationwide. Advertisement"I was in law school," Biden said of the Vietnam War protests, per The New York Times. Even among young voters, the trend remains the same. A Harvard Youth Poll of 18-to-29-year-olds nationwide found that the war was far less important to voters than inflation or healthcare.

Persons: Joe Biden, Biden, —, — it's, Joe Biden hasn't, haven't, That's, @eyokley, Cf5Ot4q2t4, CSeqbdsWtK, Jason I, McMann, Donald Trump, It's, Israel, Barack Obama, Trump Organizations: Service, Israel, Biden, Democratic, NBC, New York Times, Muslim, CBS, Harvard Locations: Gaza, Israel, Vietnam, Michigan

☆ 3 of Wall Street's biggest banks share what's next for markets after the largest earnings surprise in years — and 25 top stocks to invest in for stable, long-term profit growth
▼ + stars: | 2024-05-02 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Large technology stocks have continued to be a key driver of earnings growth. Those calls are based on the firms' expectation that the economy will continue to grow despite uncomfortably high interest rates. Bullish firms concur that elevated interest rates are a serious concern for investors. "Should the outlook for earnings growth deteriorate, the recent stretch of quality outperformance will likely continue and also expand to include stocks with stable growth," Kostin wrote. Along with each is its ticker, market capitalization, sector, 2024 expected earnings growth rate, and 10-year EBITDA growth variability rate, according to Goldman Sachs.

Persons: Morgan Stanley, That's, Jonathan Golub, David Lefkowitz, Stocks, they've, Mike Wilson, Morgan, 19.3x, Goldman Sachs, David Kostin, Wilson, Kostin, Russell Organizations: UBS, Business, UBS Beats, UBS Global Wealth Management, Companies, Federal Reserve

☆ ‘Should have been done yesterday’: Rural, older Americans could get hurt as affordable internet program runs out of cash
▼ + stars: | 2024-04-29 | by ( Brian Fung | Jason Carroll | ) edition.cnn.com time to read: +14 min

But in just a few weeks, her internet bills, and those of other Americans like her, could skyrocket by hundreds of dollars a year. The program is heavily used by Americans over age 50, military veterans and low-income working families nationwide, according to FCC data. Amira Karaoud/Reuters/FileRural and older usersThe ACP has quickly gained adoption since Congress created the program in the 2021 bipartisan infrastructure law. Large swaths of the ACP’s user base trend older; Americans over 65 account for almost 20% of the program. The FCC’s Lifeline program, which dates to the Reagan administration, similarly gives low-income households a monthly discount on phone or internet service.

Persons: Cindy Westman, —, I’ll, ”, Westman, ’, Westman —, Gigi Sohn, “, Biden, Allison Bailey /, Cynthia George, George, ” George, Marc Veasey, They’re, Geoffrey Starks, “ It’s, ” Starks, Amira Karaoud, Walter Durham, I’m, ” Durham, Michelle McDonough, McDonough, she’ll, doesn’t, “ I’m, ” McDonough, Kamesha Scott, Louis, Megan Janicki, ” Janicki, Reagan, Mike Johnson, Blair Levin, Johnson didn’t, Levin, Jonathan Blaine, ” Blaine, they’re Organizations: CNN, Program, Social, Federal Communications Commission, FCC, Capitol, Getty, MSN, White, ” Texas Democratic, “, Comcast, ACP, Navy, American Library Association, Lifeline, Republicans, Republican, New, Research, ” Bills Locations: Eureka , Illinois, America, Dallas, Las Vegas, Kentucky, San Diego, United States, Maine, St, Vermont

☆ Saudi Arabia wants big spenders for the first part of its Neom megaproject
▼ + stars: | 2024-04-28 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Saudi Arabia plans to open the first part of its Neom megaproject this year. Saudi Arabia is pushing to distinguish itself in the high-end luxury market to compete with Dubai. AdvertisementSaudi Arabia plans to open the first region of its Neom megacity by the end of the year. Neom recently ended investor roadshows in China by confirming the luxury island resort would open this year, Arab News reported. A rendering of The Line, part of the Neom project planned by Saudi Arabia.

Persons: —, Neom, roadshows, It's, Marriott Bonvoy, Chadi, MDLBEAST, Kristian Coates Ulrichsen, Saudi Arabia hasn't, Ulrichsen, Saudi Crown Prince Mohammed bin Salman's Organizations: Dubai, Service, Arab News, Marriott, United, Rice, Baker Institute for Public Policy, Emirates, Saudi, Bloomberg, Business Locations: Saudi Arabia, Sindalah, China, Saudi, Vives, Dubai, United Arab Emirates, Saudi Crown, Gulf Kingdom

☆ History says this market downturn is just getting started. A veteran strategy chief shares 18 stocks to buy to hedge against risk and gain upside during the recovery.
▼ + stars: | 2024-04-28 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

There have been 13 other market selloffs during the second year of a bull market since 1946, Belski noted. AdvertisementFollowing its 2021 pullback, the S&P 500 finished the second year of its bull market up 22.6% and 11.5% higher than its nadir. Valuations are still historically high, and mega-cap growth companies continue to make up a disproportionately large share of the S&P 500. Since Belski thinks this bull market has legs, he doesn't want to forgo future upside. These firms have higher earnings growth than the median S&P 500 name and also have lower price-to-earnings (P/E) and P/E-to-growth (PEG) ratios — a recipe for success.

Persons: —, pales, Keith Lerner, Truist, Lerner, who've, Brian Belski, he's, Belski, selloffs Organizations: Service, Business, BMO Capital Markets, selloffs

☆ Here's how Caitlin Clark's $338,000 WNBA contract compares to No. 1 picks from the NFL, NBA and MLB
▼ + stars: | 2024-04-18 | by ( Nicolas Vega | ) www.cnbc.com time to read: +2 min

1 overall selection by the Indiana Fever in this week's WNBA draft, Clark's salary her first season will be just over $76,000. Clark's pay will escalate over the course of her four-year rookie contract, leaving her with total earnings of $338,056. The WNBA has grown in popularity in recent years, but it still trails behind the NBA, NFL, MLB and NHL. The highest paid WNBA player is Las Vegas Aces star Jackie Young, who will earn just over $250,000 this season. Here's how Clark's rookie deal stacks up against the most recent top picks from America's big four sports leagues.

Persons: Caitlin Clark, she'll, Jackie Young, Steph Curry, Cathy Engelbert, we're Organizations: WNBA, Indiana, Gatorade, Nike, NBA, NFL, MLB, NHL, Las Vegas Aces, Golden State Warriors, CNBC Locations: State

☆ D.N.C. Helped Pay Biden’s Legal Bills in Special Counsel Investigation
▼ + stars: | 2024-04-12 | by ( Reid J. Epstein | ) www.nytimes.com time to read: +1 min

Even as some of President Biden’s top campaign officials were attacking Donald J. Trump’s campaign for soliciting donations to pay his legal fees, the Biden-aligned Democratic National Committee was helping pay for lawyers in the special counsel investigation into Mr. Biden’s handling of classified documents. has directed at least $1.7 million to lawyers since July to cover the president’s representation in the documents inquiry, a figure that pales in comparison to Mr. Trump’s use of supporters’ donations to pay his hefty legal fees. The former president has spent more than $100 million on legal bills since leaving office, relying almost entirely on donations. Federal Election Commission records show that since the investigation began last year, the D.N.C. has paid $1.05 million to Bob Bauer, the president’s lawyer.

Persons: Biden’s, Donald J, Bob Bauer, Jennifer Miller, Biden, ”, —, Axios, Barack Obama Organizations: Biden, Democratic, Committee, Commission Locations: Boston

☆ Jim Cramer's week ahead: Nonfarm payroll data and Disney's proxy fight comes to a head
▼ + stars: | 2024-03-28 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday guided investors through next week's Wall Street action, saying to pay attention to new nonfarm payroll data and Walt Disney's annual shareholder meeting, where its long and arduous proxy fight will come to a head. "Keep an eye on the employment report, because everything else that's coming next week pales in comparison — even the no-holds-barred Disney proxy fight." On Monday, Cramer expects decent earnings from PVH , an apparel maker known for brands including Calvin Klein and Tommy Hilfiger. Walt Disney 's annual shareholder meeting will take place on Wednesday, bringing an end to the company's monthslong bitter proxy fight with activist investor Nelson Peltz. On Friday, the U.S. Department of Labor will release the nonfarm payroll report, and Cramer said he's expecting strong figures.

Persons: CNBC's Jim Cramer, we'll, Cramer, Calvin Klein, Tommy Hilfiger, he's, Walt Disney, Nelson Peltz, Levi Strauss, Conagra, Slim Jims, Orville Redenbacher's, Boyardee, haven't Organizations: Walt, Disney, Enterprise Products Partners, U.S . Department of Labor Locations: Paychex

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