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We're be buying 400 shares of Coterra Energy (CTRA) at roughly $26.79 each. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 1,550 shares of CTRA, increasing its weighting in the portfolio to 1.48% from 1.1%. The energy trade may be the group hit hardest Tuesday as worries about the China economic recovery, which continues to disappoint, put pressure on oil prices. CTRA YTD mountain Coterra Energy YTD performance Shares of Coterra Energy dropped more than 3.5% on Tuesday morning, one day after reporting second-quarter earnings . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: We're, Jim Cramer's, Moody's, Coterra, we're, Jim Cramer, Jim, Spencer Platt Organizations: Coterra Energy, CTRA, Texas, Natural Resources, CNBC, New York Stock Exchange, Getty Locations: China

☆ Oil hedge funds place their bets on heat-fueled hurricane season
▼ + stars: | 2023-08-08 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Gasoline prices usually rise ahead of the U.S. summer driving season. Money managers in the week to Aug. 1 boosted their net long holdings of NYMEX RBOB gasoline futures to the highest since late February 2022. HEDGE FUND-FUELED TURNAROUNDGasoline futures have risen around 14% this year, compared with a roughly 2% rise for U.S. crude futures . To guarantee a profit, they need the rise in gasoline prices to be sustained until hurricane activity is confirmed. But for gasoline to continue its rise against the price of crude oil, there needs to be a hurricane in the Gulf of Mexico, they said.

Persons: Liz Hampton, Tom Kloza, Vincent Elbhar, Eliot Geller, Brent Belote, Cayler, Belote, Arion, Nell Mackenzie, Laura Sanicola, Barbara Lewis Organizations: REUTERS, Liz Hampton LONDON, Gulf Coasts, Silicon Valley, Societe Generale, Reuters, Money, Futures Trading Commission, Reuters Graphics, El, Oil Price Information Service, CTA, Investment, Commodity, Fund, Aspect, CoreCommodity Management, CoreCommodity, Barclays, JP, Cayler, Thomson Locations: Loco Hills, New Mexico, U.S, Russia, Ukraine, Gulf of Mexico, United States, Gulf, Silicon, Gulf Coast, Mexico, Europe, Hurricanes, Washington

☆ China chipmaker Hua Hong posts modest gains in Shanghai debut
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, Aug 7 (Reuters) - Hua Hong Semiconductor, China's second-largest chip foundry, posted modest gains in its Shanghai debut on Monday, reflecting a weak market sentiment and investor caution amid mounting Sino-U.S. chip rivalry. Hua Hong shares opened 13% higher on Shanghai's tech-focused STAR Market, but quickly faltered. The Shanghai Composite Index (.SSEC) was down 0.6%, while Hua Hong's Hong Kong-listed shares declined more than 7%. Randall said the money raised by Hua Hong is not huge in a capital-intensive industry, but shows chipmakers are broadening fundraising channels in addition to government backing. Hua Hong will use most of the proceeds to boost capacity at a facility in Wuxi, in eastern Jiangsu province, according to the company's prospectus.

Persons: Hua, Hua Hong, Joe Biden's, Stewart Randall, Randall, Li Gu, Brenda Goh, Mo Yelin, Muralikumar Anantharaman, Himani Organizations: Hua Hong Semiconductor, Hua Hong, Trump, Washington, Thomson Locations: SHANGHAI, Shanghai, U.S, Hong Kong, Beijing, Washington . U.S, China, Wuxi, Jiangsu

☆ Here's why we're reviewing our price target on an oil stock after quarterly results and guidance
▼ + stars: | 2023-08-07 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Oil and natural gas producer Coterra Energy (CTRA) delivered mixed results after the closing bell Monday, with second-quarter sales missing expectations and profit outpacing estimates. However, natural gas liquid prices missed estimates. While management did raise their outlook for total production along with their production targets for oil and natural gas, they left capital expenditure expectations alone. Given the pressure seen on commodity prices, particularly in natural gas, management was forced to lower their outlook for operating cash flow and free cash flow. Guidance Forward guidance for both the third quarter and full year 2023 was mixed — and unfortunately, the full-year misses were on management's cash flow forecasts.

Persons: We'll, Jim Cramer's, Jim Cramer, Jim, Pavlo Gonchar Organizations: Coterra Energy, Revenue, Refinitiv, Natural Resources, Management, West Texas, CNBC, Energy Inc, Getty

Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion riyals a year earlier, beating a company-provided median estimate from 15 analysts of $29.8 billion. The group declared a base dividend of about $19.5 billion for the second quarter, roughly in line with its payout for the first quarter. Aramco will begin paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, it said. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The firm still sees capital expenditure at between $45 billion and $55 billion this year, Nasser said on a media call.

Persons: Maxim, Graphics Brent, Brent, Amin Nasser, Nasser, Maha El Dahan, Yousef Saba, Jan Harvey, Bernadette Baum Organizations: Aramco, Investment Fund, Saudi, REUTERS, Graphics, of, Petroleum, Thomson Locations: China chem, DUBAI, Saudi Arabian, Aramco, Saudi, Saudi Arabia, Russia, Saudi Aramco, Abqaiq, Moscow, Riyadh

☆ Top Wall Street analysts are banking on these stocks for solid returns
▼ + stars: | 2023-08-06 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +4 min

In this article GMMSFTSPOTMETADPZ Follow your favorite stocks CREATE FREE ACCOUNTThe Spotify logo on the New York Stock Exchange, April 3, 2018. Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performance. Domino's PizzaMeta PlatformsNext up is Meta Platforms (META). Nonetheless, Goldman Sachs analyst Kash Rangan, who ranks 459th among more than 8,500 analysts tracked on TipRanks, remains bullish on MSFT stock. However, he observed that historically, whenever Microsoft increased its capital expenditure in the cloud market, Azure growth rate shot up meaningfully and margins rebounded, driving the stock price higher.

Persons: Lucas Jackson, Wall, Brian White, White, Goldman Sachs, Kash Rangan, Rangan Organizations: GM, New York Stock Exchange, Reuters, Meta, TipRanks, Spotify, Microsoft, General

☆ South Korean defense stocks power ahead as overseas interest grows for weapon systems
▼ + stars: | 2023-08-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

In this handout image released by the South Korean Defense Ministry via Dong-A Daily, a missile is fired during a joint training between the United States and South Korea on June 6, 2022 in East Coast, South Korea. South Korean Defense Ministry | Getty ImagesSouth Korean defense stocks have recorded stellar gains over the past 12 months, with one stock soaring more than 60% as tensions on the Korean Peninsula accelerate. The company manufactures air defense systems, armored fighting vehicles and artillery systems. Escalating tensions in the Korean Peninsula have also kept interest in South Korean weapon platforms high. Tech and industrial baseMorgan Stanley is optimistic about the outlook for the South Korean defense industry.

Persons: Ukraine —, Morgan Stanley, National Defense Mariusz Blaszczak, Maffei, Janes, Youngsoo Han, Kayoung Lee, KAI, Victor Cha, Cha, Yoon Suk Organizations: South Korean Defense Ministry, Getty, Hanhwa Aerospace, Hanhwa Group, Peace Research Institute, The, North, South Korea —, South Korean, K9, Hyundai Rotem, Korea Aerospace Industries, Korean, Poland's, National Defense, Nikkei, NATO, Krauss, South, FA, Samsung Securities, ., Center for Strategic, International, CNBC Locations: United States, South Korea, East Coast , South Korea, Ukraine, South, Stockholm, The U.S, East, Europe, Korean, U.S, Jeju, North Korea, Asia, Russia, Poland, Polish, South Korean, Malaysia, . Tech, Korea

☆ 'Stark contrast' to China: Morgan Stanley upgrades India stocks and shares 4 top picks
▼ + stars: | 2023-08-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley upgraded Indian stocks to "overweight" from "equal weight," citing a strong profit outlook and the country's attractiveness to investors in a "multipolar world." India's situation is in "stark contrast to that in China," the bank said in its Aug. 2 note. Morgan Stanley downgraded Chinese stocks to equal weight in the same note. Stock picks While Indian stock valuations "overshot somewhat" last October, it's "less extreme" now, Morgan Stanley said. Morgan Stanley added two Indian stocks to its focus list: Maruti Suzuki : Morgan Stanley said the automaker is set to benefit from a higher per-capita income in India; an expansion in market share; and an improving product mix.

Persons: Morgan Stanley, capex, Maruti Suzuki, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Maruti, ICICI Bank, Hindustan Aeronautics Locations: China, India, Saudi Arabia

☆ Exclusive: Russia doubles 2023 defence spending plan as war costs soar
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +5 min

They show that in the first half of 2023 alone, Russia spent 12%, or 600 billion roubles, more on defence than the 4.98 trillion roubles ($54 billion) it had originally targeted for 2023. Defence spending in the first six months of 2023 amounted to 5.59 trillion roubles, 37.3% of a total 14.97 trillion roubles spent in the period, the document showed. Between 2011 and 2022, Russia spent a minimum of 13.9% and a maximum 23% of its budget on defence. Russia has already spent 57.4% of its new annual defence budget, the document showed. Funding for schools, hospitals and roads was already being squeezed this year in favour of defence and security, but as the share of defence spending grows, other areas could face cuts.

Persons: Vladimir Putin, Ilya Pitalyov, Denis Manturov, Dmitry Polevoy, Yevgeny Suvorov, Suvorov, Mike Collett, White, Philippa Fletcher Organizations: Sputnik, Reuters, Defence, MMI Telegram, Bank of Russia, Monetary Fund, Thomson Locations: Russian, Saint Petersburg, Russia, Ukraine, Moscow, Locko

☆ BMW forecasts growth in Europe, warns supply chain issues remain
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] A BMW iX electric car is displayed during a media tour at the plant of German automaker BMW in San Luis Potosi, Mexico, February 3, 2023. Still, it warned that supply chain issues and inflation would likely continue to weigh on the rest of the year. BMW reported a 2.9% drop in second-quarter net profit, in line with analysts' expectations, after last year's figures were boosted by its decision to take majority control of its Chinese joint venture BMW Brilliance Automotive. BMW saw significantly higher revenues for the first half at 74 billion euros due in part to the integration of its Chinese joint venture BMW Brilliance Automotive (BBA) as well as higher sales and pricing. It paid 3.7 billion euros to take majority control of the Chinese joint venture in February last year, pushing up earnings before tax in the first half of 2022 by 7.7 billion euros.

Persons: Toya Sarno Jordan BERLIN, Victoria Waldersee, Friederike Heine, Edmund Klamann, Bernadette Baum Organizations: BMW iX, BMW, REUTERS, Thomson Locations: San Luis Potosi, Mexico, United States, China

☆ China's sprawling spy agencies are designed to root out the 'five poisons' at home and abroad, British intelligence says
▼ + stars: | 2023-08-03 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +8 min

Yin Gang/Xinhua via Getty) (Xinhua/Xinhua via Getty ImagesIn a recent report to parliament, the British intelligence services detailed the operations and goals of the Chinese intelligence services. The Chinese intelligence services are also collecting information on the Chinese democracy movement at home and abroad — including in the US — in an attempt to subvert it. According to the British intelligence report, Xi has sought to make Chinese intelligence activity more professional through reform and investment. "In more ways than one, the broad remit of the Chinese Intelligence Services poses a significant challenge to Western attempts to counter their activity," the report said, citing assessments by British intelligence officers. "To compound the problem, it is not just the Chinese Intelligence Services: the Chinese Communist Party co-opts every state institution, company and citizen.

Persons: Yin, Ma Ying, Xi Jinping, Chuang, Gong, Dalai Lama, Murad Sezer, Xi, Xie Huanchi, hoover, Stavros Atlamazoglou Organizations: Chinese Communist Party, intel, Beijing, Service, Ministry of Public Security, Yin Gang, Getty, Xinhua, of State Security, of Public Security, Force, NSA, REUTERS, CCP, of, People, US National Counterintelligence and Security Center, Chinese Intelligence Services, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University, Johns Hopkins, School, International Locations: China, Wall, Silicon, Beijing, Xinhua, Taipei, Singapore, Xinjiang, Taiwan, Tibet, Bhutan, Nepal, India, Istanbul, Johns

☆ Cloudflare raises full-year forecasts as tech spending bounces back
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

Aug 3 (Reuters) - Software firm Cloudflare (NET.N) raised its annual revenue and profit forecasts after delivering better-than-expected results for the second quarter on Thursday, sending its shares up nearly 6% in extended trading. Cloudflare now sees 2023 revenue in the range $1.283 billion to $1.287 billion, compared with its earlier forecast of $1.280 billion to $1.284 billion. It also raised its adjusted per-share profit forecast by more than 2 cents. San Francisco, California-based Cloudflare sells tools and software, grouped as content delivery network (CDN) services, that help companies manage their applications on the internet. The company forecast third-quarter revenue of between $330 million and $331 million, while analysts expect $329.4 million.

Persons: Cloudflare, Refinitiv, Yuvraj Malik, Pooja Desai Organizations: Companies, Thomson Locations: San Francisco , California, Bengaluru

☆ Russia's closed airspace adds up to four hours onto some flights. United, British Airways, and Finnair are all avoiding the area.
▼ + stars: | 2023-08-03 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Russia's airspace is closed to many global airlines, forcing carriers to detour around the nation. Routes to and from Asia are up to four hours longer. Finnair's flight to Japan is four hours longer, while United treks an extra two hours to India. Carriers like British Airways, Finnair, Dutch carrier KLM, and Lufthansa, are flying about one to three hours longer than normal to avoid Russia. "Instead of a three-man crew, the extra hours can tip an airline into a heavy crew of four — and when there is a global pilot shortage, that can be really inconvenient."

Persons: They're, they're, OAG, John Grant, it's, Robert Mann, Grant Organizations: United, Morning, Carriers, British Airways, KLM, Lufthansa, Japan Airlines, Korean, All Nippon Airways, Monday, United Airlines, Juneyao Airlines, Emirates, Air, ABC News Locations: Asia, Japan, India, Ukraine, Dutch, Russia, New Delhi, London, Beijing, Seoul, Tokyo, Hong Kong, Helsinki, Soviet Union, Mumbai, San Francisco and New Delhi, China, Europe, Shanghai, Finland, Air India, New York

☆ Virtual Healthcare Has Green Benefits
▼ + stars: | 2023-08-02 | by ( Cecilia Butini | ) www.wsj.com time to read: +8 min

Virtual doctor’s appointments are helping healthcare companies reduce carbon emissions, though sustainability is mostly seen as a side benefit of telehealth rather than its main driver. The healthcare industry is responsible for about 5% of global greenhouse-gas emissions, of which the U.S. healthcare system alone accounts for a quarter. Similarly, in England, medicines, buildings, equipment and other supply-chain items generate most of the National Health Service’s emissions, according to official NHS figures. The company has designed an app for teleconsultations that is able to show patients the carbon emissions avoided through that consultation. In line with national data, the company said its Scope 3 emissions account for 75% of its total emissions.

Persons: telehealth, Cynthia Cox, KFF, ”, Colin Cave, ” Cave, Glyn Richards, Ben Phillips, BUPA, Marijka Grey, Kyle Zebley, — Dieter Holger, Cecilia Butini Organizations: McKinsey, Sustainable Business, Affordable, Energy, U.S . Agency for Healthcare Research, National Health, Kaiser Permanente, Permanente Kaiser Permanente, Spain —, CommonSpirit Health, CommonSpirit, American Telemedicine Association Locations: England, telemedicine, Kaiser, U.S, Northwest, U.K, Spain, Grey, Europe

☆ Here are the 9 smartest ways to invest in artificial intelligence right now, according to Bank of America, Morgan Stanley, and UBS
▼ + stars: | 2023-08-02 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Here's how Bank of America, Morgan Stanley, and UBS recommend investing in AI. Bank of America, Morgan Stanley, and UBS are more optimistic about AI stocks after each expressed hesitations earlier this year as shares of companies tied to the technology exploded higher. In contrast, Morgan Stanley has dismissed concerns that AI stocks are in a bubble. "Inevitably, the market will compare AI to the dot-com boom," wrote Morgan Stanley analyst Shawn Kim in a July report. As for chipmakers, Morgan Stanley agreed with Bank of America that the path forward is bifurcated.

Persons: Morgan Stanley, Marcelli, Art Cashin, Michael Hartnett, Shawn Kim, Mike Wilson, Morgan, Vivek Arya, Wilson Organizations: Wall, Bank of America, UBS, Americas, Nvidia, Marvell Technology, Broadcom, Cadence Design Systems, Bank of, Accenture, Microsoft, Taiwan Semiconductor Manufacturing Company, Consumer Locations: California, Snowflake, OpenAI

☆ Stick with Treasurys even after Fitch downgrades U.S., UBS says
▼ + stars: | 2023-08-02 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Government bonds are still a sound investment, according to UBS. Fitch attributed the downgrade Tuesday to an "erosion of governance," referring to political standoffs around the debt limit, as well as growing debt levels. The firm expects government debt to reach 118.4% of gross domestic product by 2025. US10Y US2Y YTD line U.S. 2 year and 10 year yields Bond yields move opposite to their prices. She noted that the added benefit of having U.S. Treasurys is they offer the potential for capital appreciation if investors become concerned about slowing growth.

Persons: Fitch, Marcelli, — CNBC's Michael Bloom Organizations: UBS, ., AAA, UBS Global Wealth Management, Treasury, Federal Locations: Americas

☆ Tinder-parent Match sees third-quarter revenue above estimates on strong user growth
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

The company forecast revenue between $875 million and $885 million for the third quarter. It posted adjusted operating income of $301 million in the second quarter, compared with market estimates of $278.5 million. Match said Tinder's "It Starts with a Swipe" campaign was crucial in lifting new user signups, particularly among young women. It also said there has been strong demand for its weekly subscription packages, which benefited Tinder's revenue. The company posted a revenue of $830 million in the second quarter, compared to analysts' estimate of $811.4 million, according to Refinitiv IBES data.

Persons: Akhtar Soomro, Tinder, Akshita Toshniwal, Akash Sriram, Pooja Desai Organizations: REUTERS, Thomson Locations: Bengaluru

The new campaign by the group working to pass the August measure, called Protect Women Ohio, includes a $4.5 million expenditure on two new 30-second television ads, as well as $1 million on statewide radio and digital ads. The ads continue a strategy by the group to tie the Aug. 8 measure, as well as a November ballot measure that would enshrine abortion rights in the state constitution, to parental rights restrictions. Protect Women Ohio’s ads and statements also argue that the presence of ACLU of Ohio in the pro-amendment coalition is evidence of a push beyond abortion rights. The group has also, so far, committed $25 million for ads to oppose the November ballot measure. If voters pass the threshold measure in August, then the proposed abortion rights amendment in November would need 60% support from voters to pass.

Persons: ”, Hunter, ” Hunter, Vivina Napier, you’ll, ” Napier Organizations: Protect, NBC News, Reproductive, Ohio Constitution Locations: Ohio, Women Ohio

☆ Americans are being pinched by rising prices and grueling debt - and the pain isn't going away soon, analyst says
▼ + stars: | 2023-08-01 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Higher prices and interest rates are pressuring consumers and companies, Stephanie Pomboy says. Meanwhile, businesses are suffering a "migraine" in the form of higher debt costs, the Macro Mavens founder and president said. She pointed to the pressure on consumer spending, the limited supply of labor, and striking workers raising companies' costs by driving up wages and securing settlements. Inflation surged to a 40-year high of 9.1% last summer, spurring the Federal Reserve to hike interest rates from nearly zero to north of 5.25% today — a 22-year high. Higher rates can ease upward pressure on prices by encouraging saving over spending, hiring, and investing.

Persons: Stephanie Pomboy, Robert Heller, Pomboy, Paul Krugman, aren't, Heller Organizations: Fed, Service, Fox Business, Federal Reserve, Federal Locations: Wall, Silicon, Pomboy

☆ Even Trump's PAC is skiplagging now
▼ + stars: | 2023-08-01 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Trump's political action committee has embraced skiplagging, according to federal campaign finance reports. Save America PAC used the tactic as it spent more than $21 million on legal fees. Airlines are increasingly trying to thwart skiplagging as passengers embrace the practice amid rising prices. While some of that money was routed back to Trump's super PAC, more than $21 million was spent on legal fees. A representative for Trump did not immediately respond to a request for comment about how the former president's orbit is using skiplagging.

Persons: Donald Trump's, SkipLagged, Joe Biden, Trump, Bobby Laurie Organizations: Save America PAC, Service, Trump, Trump PAC, Trump's, US Airways, Virgin America Locations: Wall, Silicon, New York

☆ Pope Francis Portugal visit: Street artist Bordalo II rolls out ‘banknote’ carpet in protest
▼ + stars: | 2023-07-31 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Lisbon, Portugal Reuters —Portugal’s famed street artist, Bordalo II, has broken into a Lisbon venue where Pope Francis will celebrate a mass next week and rolled out a huge carpet of oversized banknotes to criticize how much the state has spent on the event. Artur Bordalo, who goes by the name Bordalo II, poses at his studio in Lisbon, Portugal. Patricia De Melo Moreira/AFP/Getty imagesOfficial estimates in January showed the event would cost 161 million euros ($177 million), to be paid by the government, the Catholic Church, the city council of Lisbon and nearby Loures. Earlier this year, heavy criticism forced the Lisbon city council to cut planned spending on an altar for Francis to celebrate a mass to 2.9 million euros ($3.2 million) from over 5 million euros ($5.5 million). Asked about Bordalo II’s carpet, Lisbon Mayor Carlos Moedas told reporters the artist used his voice to express his concerns and that such protests were normal for these events.

Persons: Portugal Reuters —, Bordalo, Pope Francis, Francis, ”, Artur Bordalo, Instagram, Patricia De Melo Moreira, Carlos Moedas Organizations: Portugal Reuters, AFP, Getty, Catholic Church Locations: Lisbon, Portugal, Loures, Portuguese

☆ Western Digital's first-quarter forecast disappoints as weak cloud demand weighs
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

July 31 (Reuters) - Memory chipmaker Western Digital Corp (WDC.O) forecast a bigger-than-expected loss in the first quarter and revenue below Wall Street targets on Monday as weak demand, mainly for its cloud business, forces it to cut production. Cloud companies will take another "couple of quarters" to clear out excess inventory, finance chief Wissam Jabre said in June. Western Digital forecast its adjusted loss per share to be in the range of $2.10 to $1.80, compared to an estimated loss of $1.40 per share. It also forecast revenue for the same period below estimates. Rival Seagate Technology (STX.O) also forecast downbeat revenue for its first quarter last week, on weakness in major market China and lower tech spending.

Persons: Wissam Jabre, David Goeckeler, Goeckeler, Chavi Mehta, Stephen Nellis, Pooja Desai Organizations: Digital Corp, Seagate Technology, Western Digital, Samsung Electronics, SK Hynix, Thomson Locations: China, South, Bengaluru, San Francisco

☆ Dish Network enters dangerous financial orbit
▼ + stars: | 2023-07-31 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

Billionaire Charlie Ergen staked Dish Network’s (DISH.O) future on wireless spectrum, a decision looking worse by the day. The satellite operator has spent some $25 billion since 2008 acquiring the finite resource used to carry data. In January, Dish issued $1.5 billion of senior notes, secured by spectrum, with an 11.75% coupon. The satellite operator said on July 17 that its 5G network covered nearly three-quarters of the U.S. population. Dish must meet additional thresholds in 2025 or it could face up to $2.2 billion in fines and might be forced to forfeit wireless spectrum.

Persons: Charlie Ergen, Morgan Stanley, Semafor, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Dish, New, Research, Dish Network, Amazon.com, U.S . Federal Communications Commission, Thomson Locations: EBITDA

☆ On tap this week: Jobs report plus 10 key earnings. Here's what we want to see
▼ + stars: | 2023-07-29 | by ( Zev Fima | ) www.cnbc.com time to read: +18 min

All three major averages advanced for the week, powered by strong mega-cap earnings and favorable inflation data. Looking to next week, earnings season enters its second half with the last of our mega-caps — Apple (AAPL) and Amazon (AMZN) — set to report on Thursday. We'll get a better read on the employment picture on Wednesday with the ADP report and then, more importantly, on Friday's nonfarm payrolls report for July. Thursday after the close brings us to the main events of the week: Earnings from Apple and Amazon. For those looking to review first quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

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WASHINGTON/LONDON, July 28 (Reuters) - The International Monetary Fund said on Friday that it has reached a staff-level agreement with Argentina to unlock about $7.5 billion and complete the fifth and sixth reviews of the struggling country's $44 billion loan program. Reuters first reported that the agreement would combine the fifth and sixth reviews of Argentina's IMF program -- a move that provides additional loan funds sooner. The IMF said its board would meet to consider the agreement in the second half of August. The Fund said that the program will need waivers because these measures are "against the introduction of multiple currency practices." Argentina is set to have another three reviews on its 2022 IMF programme by September 2024, though the IMF statement didn't specify what would happen with those.

Persons: Sergio Massa, David Lawder, Hugh Lawson, Alistair Bell Organizations: WASHINGTON, Monetary Fund, Reuters, IMF, Argentine, Thomson Locations: LONDON, Argentina, Buenos Aires, Beijing, Washington, Rosario, London

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