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☆ These bankers got deals done despite a dismal environment
▼ + stars: | 2023-02-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Top M&A bankers of 2022. That's why you could argue that this year's edition of "The Rainmakers" — Insider's annual list of the 20 M&A bankers who handled the largest deals of the year in North America — is more impressive than previous editions. What's interesting about this year's list is how it was made up of bankers almost entirely from the bulge-bracket. Check out our list of the top-20 M&A bankers who made the most during a difficult year for dealmaking. Jeff Bezos' $500 million yacht finally hit the open water.

☆ Returns from top venture firms NEA, DCM, and Khosla have been dismal over the past 2 decades, according to filings from California's largest pension fund, CalPERS
▼ + stars: | 2023-02-15 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

CalPERS is the US's largest public pension plan, managing the retirement accounts of 1.5 million California employees and retirees. Unlike many other financial institutions, VC funds are not required to show their return on investment in startups. The CalPERS fund's $75 million bet in 2001 on a venture fund managed by the Carlyle Group lost money. A $25 million investment in DCM's 2000 fund had a 1.9% IRR. Its $260 million investment in two Khosla Ventures funds in 2009 yielded an IRR of 11.8% for the early-to-midstage fund and 6.9% for the seed-stage fund.

Ford can save up to $2.5 billion this year through better management of production schedules and a drop in commodity prices, the company's chief financial officer, John Lawler, said at an auto conference. The automaker posted dismal quarterly results earlier this month and blamed chip shortages, supply chain disruptions and production "instabilities" for adding to its costs. Lawler has said Ford faces $5 billion in higher costs this year and that the company will be "very aggressive" in reducing expenses in its manufacturing, supply chain and distribution operations. Longer term, the company aims to reduce dealer inventories and drive more transactions online, among other measures, according to Chief Executive Jim Farley. Making an EV more aerodynamic can save "thousands of dollars in battery costs," Farley said.

☆ The US Navy's struggle to keep ships in fighting shape is leading sailors to 'cannibalize' more parts from other ships
▼ + stars: | 2023-02-15 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Shortages of spare parts is driving US sailors to take more and more parts from other ships. The spare parts shortage only exacerbates an already dismal Navy maintenance situation, with overburdened and understaffed shipyards unable to perform necessary overhauls on schedule. The study listed a cascade of causes for the shortage of spare parts: "Parts obsolescence, diminishing manufacturing sources, and material shortages are common issues." Likewise, militaries have long cannibalized equipment during operations when spare parts may not be available. Steaming hours have also declined for Navy ships, though by how much isn't clear, as the Department of Defense has classified the data.

☆ Bond ETFs are bouncing back this year. Here’s why
▼ + stars: | 2023-02-15 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +4 min

After a dismal 2022 for fixed income funds, bonds are steadily regaining steam in the new year thanks in part to an inverted yield curve. "There's now income within the fixed income ETFs that are available," Todd Rosenbluth, head of research at VettaFi, told Mike Santoli on CNBC's "ETF Edge" on Monday. We've seen high-yield fixed income ETFs see inflows this year, as well as some of the safer products." Given the inverted shape of the yield curve, JPMorgan Ultra-Short Income ETF (JPST) offers a portfolio comprised of short-term, investment-grade bonds. "It's really too early to declare and wave a victory flag with regard to the soft landing," Schneider said in the same segment on Monday.

☆ Iranian Nationalists Reject the Regime
▼ + stars: | 2023-02-14 | by ( Reuel Marc Gerecht | Ray Takeyh | ) www.wsj.com time to read: +1 min

In Washington’s liberal foreign-policy circles, it has long been accepted that any significant foreign military action against Iran would be counterproductive. Iranian nationalism would kick into gear, turning opponents of the regime into angry patriots. Iranian hard-liners would become more recalcitrant, foreclosing the possibility of reform. But 44 years after the Islamic revolution, it’s no longer true that Iranian nationalists support the status quo. The mullahs have done much to anger the Iranian people since 1979 and little to win them over.

☆ Want the S&P 500 to gain 10% this year? A Super Bowl win by the Philadelphia Eagles may be your best bet
▼ + stars: | 2023-02-12 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

The Philadelphia Eagles and the Kansas City Chiefs will face off in Super Bowl LVII on Sunday in Arizona. An analyst said historic data suggests a win by an NFC team will produce a 10% return for the S&P 500 this year. Maybe not," Detrick wrote about this year's Super Bowl. From that viewpoint, stock investors may want to see the Chiefs win their third Super Bowl. Before Sunday's game, the S&P 500 has risen about 6% in 2023, and there's been a rotation in market leadership since 2022's dismal end.

☆ Lyft is second horse in a one-horse town
▼ + stars: | 2023-02-10 | by ( Jennifer Saba | ) www.reuters.com time to read: +2 min

NEW YORK, Feb 10 (Reuters Breakingviews) - Lyft (LYFT.O) shares skidded 35% on Friday morning after the company reported dismal quarterly results. Lyft’s net loss of nearly $600 million in the fourth quarter was twice what it lost a year earlier. Uber dominates ride-sharing because it has five times as many monthly active drivers and couriers as Lyft. The ride-sharing firm recorded a quarterly net loss of $588 million compared to a net loss of $283 million in the fourth quarter of 2021. Lyft rival Uber Technologies reported on Feb. 8 that fourth-quarter revenue increased 49% to $8.6 billion.

☆ Ackman's Pershing Square reaps $2.7 bln from rate trade but down 9% in 2022 -letter
▼ + stars: | 2023-02-10 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

U.S. stock indexes had a dismal 2022 with the S&P 500 slumping almost 20%, as the Federal Reserve battled soaring inflation with aggressive interest rate hikes that roiled markets. The assets minus the liabilities in Ackman's fund trade at a discount to its share price. "This possibility is also something that we do not feel is currently reflected in PSH's share price," it said. The interest rate hedges were initiated in late 2020 and early 2021. In 2022 the fund entered new positions in long-term interest rates, currencies and energy it said.

☆ Burt Bacharach, legendary composer of pop songs, dies at 94
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: +10 min

Bacharach was both an innovator and throwback, and his career seemed to run parallel to the rock era. He was an eight-time Grammy winner, a prize-winning Broadway composer for "Promises, Promises" and a three-time Oscar winner. Fellow songwriter Sammy Cahn liked to joke that the smiling, wavy-haired Bacharach was the first composer he ever knew who didn't look like a dentist. Bacharach was essentially a pop composer, but his songs became hits for country artists (Marty Robbins), rhythm and blues performers (Chuck Jackson), soul (Franklin, Luther Vandross) and synth-pop (Naked Eyes). He's everybody's composer ... Burt Bacharach!"

Cooperman says he voted for Biden in 2020, but he accused Democrats of deliberately misleading people about how the billionaire tax proposal would work. The billionaire tax proposal is "completely dead on arrival," said Charles Myers, a 2020 bundler for Biden's presidential campaign and the chairman of Signum Global, an investment advisory firm. Myers said the purpose of Biden's billionaire tax announcement, however, was never to jumpstart a negotiation in Congress. But for some in the party, Biden's billionaire tax contains a fatal flaw. With plans for a billionaire tax stalled in Washington, wealth tax advocates and activists are turning to the states.

☆ Iger's on track to bring back the magic at Disney — allowing the stock to soar
▼ + stars: | 2023-02-09 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

But now comes the hard part: Executing on ambitious cost cuts and generating long-sought profits at Disney's beleaguered streaming unit. Disney stock, which is up more than 26% year-to-date, soared more than 5% on the news before giving up those gains Thursday afternoon amid a broader retreat in equities markets. But while Disney shares have made a strong comeback since Iger returned as CEO, the company must now deliver on its plan. Ultimately, we think Iger will bring back the magic at Disney — and we reiterate our 1 rating on the stock, meaning we would buy shares of Disney here. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Amazon bursts back into the trillion-dollar club as the stock rally allows Big Tech to retake top slots among most valued companies
▼ + stars: | 2023-02-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Amazon has returned to the trillion-dollar market-cap club as it continues to rebound after a dismal 2022. The boost to Amazon's market cap comes alongside the resurgence of Big Tech stocks this year. The Amazon stock traded around $99.20 at last check on Wednesday. That, in turn, has helped investors shake off their fear of riskier assets, like tech stocks. Several securities firms are predicting further sizable gains the Amazon stock.

☆ Electric vehicle stocks roar back to life in 2023 — Wall Street's favorite plays from here
▼ + stars: | 2023-02-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The average analyst price target calls for at least a 10% gain in the next 12 months, per FactSet. It also has 82% upside to the average analyst price target. Rivian Automotive has a whopping 90% upside to the average analyst price target. Lastly, General Motors has nearly 15% upside to the average analyst price target, with 54% of analysts covering the Cadillac maker rating it a buy. While a majority of the analysts covering the stock rate it a buy, the average price target implies 1% downside.

☆ Premarket stocks: State of the Union, recession, crypto woes and more tech layoffs: What investors are watching
▼ + stars: | 2023-02-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

Wall Street will also be watching closely for clues about the ongoing debt ceiling debate, tax policy, foreign relations and more. The unemployment rate ticked down a tenth of a percentage point to 3.4% — the lowest jobless rate since May 1969. European diesel prices fall as Russian ban kicks inEurope’s ban on Russian diesel arrived this week without inflicting more pain on the region’s economy. Russia accounted for 29% of the region’s total diesel imports last year, data from Rystad Energy shows. Countries have prepared for the latest ban by ramping up imports of Moscow’s diesel in recent months.

Add to that mix the classic 60/40 portfolio model — a standard investing benchmark — that helps investors achieve that last point. Below, CNBC Select spoke to two financial professionals about how novices can put a 60/40 portfolio strategy in action. Once you're ready to invest, here are four simple ways to start putting money into a 60/40 portfolio. Vanguard Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected. Wealthfront Learn More Minimum deposit and balance Minimum deposit and balance requirements may vary depending on the investment vehicle selected.

☆ Exclusive: China eyes help for shell-shocked consumers but big stimulus unlikely-sources
▼ + stars: | 2023-02-03 | by ( Kevin Yao | ) www.reuters.com time to read: +6 min

That has raised expectations that hefty household stimulus measures could be announced at a parliament meeting in March. Prominent academics have felt emboldened to speak publicly about sizeable demand-side measures such as 1 trillion yuan ($148.28 billion) or more in consumption vouchers. Some analysts say pent-up demand during the pandemic may be enough for consumption to grow with little policy support. Household savings jumped 7.9 trillion yuan last year to 17.8 trillion yuan. Several Chinese cities have already offered about 5 billion yuan in consumption vouchers and subsidies in total since December.

☆ Futures fall as megacaps slide on downbeat earnings
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

Shares of Wall Street heavyweights Apple (AAPL.O), Amazon Inc (AMZN.O) and Alphabet Inc (GOOGL.O) declined between 3.5% and 6% in premarket trading. The economy is expected to have added 185,000 jobs, fewer than the 223,000 additions in December. The unemployment rate is expected to tick higher to 3.6% in January, from 3.5% in December. The unemployment rate is expected to tick higher to 3.6% in Janaury, from 3.5% in December. ET, Dow e-minis were down 81 points, or 0.24%, S&P 500 e-minis were down 29.25 points, or 0.7%, and Nasdaq 100 e-minis were down 181.5 points, or 1.41%.

☆ Apple misses on top and bottom lines
▼ + stars: | 2023-02-02 | 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 EmailApple misses on top and bottom linesCNBC's Steve Kovach joins 'Closing Bell: Overtime' to report on Apple's earnings. The Overtime Panel react to the dismal numbers.

☆ Meta stock could jump 30% as Mark Zuckerberg sobers up on his metaverse ambitions and focuses on other initiatives, Gene Munster says
▼ + stars: | 2023-02-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Meta stock could see a 30% upside as Mark Zuckerberg shows he's listening to investors, Gene Munster says. Despite the Meta CEO's ambitions in the metaverse, Zuckerberg promised investors a "year of efficiency." But Zuckerberg shifted his tone in Meta's latest earnings call, Munster noted. "It's as if Zuckerberg is just saying what investors want to hear," Munster said in an interview with CNBC on Thursday. Munster estimated that the firm's earnings would rise 17%, adding Meta and other FAANG stocks could see upside of around 30% in 2023.

☆ Your earnings investing playbook for the big Apple, Amazon and Alphabet results after the bell
▼ + stars: | 2023-02-02 | by ( Jesse Pound | ) www.cnbc.com time to read: +6 min

Thursday is a massive day for tech investors, as Amazon , Apple and Google-parent Alphabet are all set to report fourth-quarter earnings after the market close. Here are some key stats about Amazon's earnings report: Over the past three months, earnings estimates have fallen from nearly 22 cents per share to about 17, according to FactSet. Here are some key stats about Apple's earnings report: Over the past three months, earnings estimates have dropped from about $2 per share to roughly $1.94, according to FactSet. Alphabet Alphabet's earnings report could provide investors a clear window into the tech industry more broadly, given the company's reliance on search advertising and cloud computing. Here are some key stats about Alphabet's earnings report: Over the past three months, earnings estimates have declined by about 2 cents per share to roughly $1.18, according to FactSet.

☆ Is bitcoin being manipulated? A professor who proved it in 2017 sees more red flags, report says.
▼ + stars: | 2023-02-02 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

In 2017, professor John Griffin noticed the price of bitcoin appeared to be propped up by a single "whale," and he's now seeing similar red flags, per Fortune. "The same mechanism we saw in 2017 could be at play now in the still unreal bitcoin market." "The same mechanism we saw in 2017 could be at play now in the still unreal bitcoin market." "The whale kept establishing price floors, and those floors kept rising. Bitcoin price floor manipulationDuring bitcoin's latest run, it's peculiar how reliably bitcoin bounced above $16,000 seemingly the moment it breached that level, he said.

☆ Starbucks misses expectations as China drags down international sales
▼ + stars: | 2023-02-02 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Starbucks on Thursday reported quarterly earnings and revenue that fell short of analysts' expectations as weak international demand weighed on its results. However, Starbucks now expects negative same-store sales growth in China through the fiscal second quarter, followed by a reversal of the trend in the second half of the fiscal year. Globally, its same-store sales rose 5%, driven by a 7% increase in average transaction spend. In the U.S., Starbucks saw same-store sales growth of 10%, thanks to customers spending more and a 1% bump in traffic. Outside its home market, Starbucks' same-store sales shrank 13%, dragged down by China's dismal performance.

☆ BoE set to lift rates to 14-year high, might hint at next moves
▼ + stars: | 2023-02-02 | by ( William Schomberg | ) www.reuters.com time to read: +4 min

The European Central Bank looks set to raise rates by a half a percentage point on Thursday to 2.5% and the main question for investors is how much more tightening it will signal. LOWER RATES PEAKAs of Wednesday, investors were pricing a roughly two-in-three chance that BoE rates will peak at 4.5% by June, with the possibility of an earlier halt at 4.25%. The BoE's inflation forecasts are also likely to change with recent sharp falls in international gas prices and a rise in the value of sterling lowering inflation later this year. The BoE is also due to update its estimate of the rate of unemployment that does not push up inflation. A rise in the non-accelerating inflation rate of unemployment would represent a lower speed limit on Britain's already slow economy.

☆ Tesla is the one stock ARK Invest's Cathie Wood says she would hold for 10 years
▼ + stars: | 2023-02-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

If Cathie Wood had to hold one stock for the next decade, it would be Tesla, she said in an interview. Wood has been snapping up Tesla stock since shares of the EV maker closed out a dismal year in 2022. She estimates the stock will soar to $1,500 a share over the next five years, marking a 675% increase. In a recent Twitter Spaces interview with Cardone Capital, the famed money manager professed her bullishness for Tesla stock, which is the largest holding in her flagship ARK Innovation ETF. Wood anticipates Tesla stock reaching $1,500 a share over the next five years, implying a 675% increase from current levels.

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