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☆ What Wall Street learned from the week's Big Tech earnings flurry
▼ + stars: | 2024-11-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Among the megacap stocks, Alphabet , Amazon and Microsoft grew year-over-year, cloud-based revenue by 35%, 19% and 20%, respectively. But of the five largest companies that have so far reported results — Meta Platforms , Alphabet, Amazon, Apple and Microsoft — only two finished the week higher. META 5D mountain Meta, 5 days Commentary from some of the tech companies signaled that AI demand remains robust. Amazon CEO Andy Jassy justified stepped up AI spending, saying that investors will be rewarded over the long haul. AMZN 5D mountain Amazon, 5 days Meanwhile, the still enormous spending patterns among megacap technology companies signals no downturn for de facto AI leader Nvidia.

Persons: Gene Munster, Sundar Pichai, Andy Jassy, Ray Wang, Wang, Mark Malek, Constellation's Wang, Satya Nadella's, Eric Clark, Clark Organizations: Microsoft, Apple, Constellation Research, Brands, Nvidia

☆ Halloween to holidays: How Disney turns over its parks between its two most important seasons
▼ + stars: | 2024-11-02 | by ( Sarah Whitten | ) www.cnbc.com time to read: +5 min

DisneyIt's time for Disney parks to swap pumpkins for poinsettias. In the thick of its busiest season, Disney's domestic theme parks have already begun to transition from Halloween decorations to Christmas colors. About two weeks before Halloween, Disney's crew begins installing "inconspicuous" elements for the holiday season, such as lighting rigs. Festive food options arrive just in time for the holidays at Disney's theme parks. At the Walt Disney World resort, Mickey's Very Merry Christmas Party launches Nov. 8 and Jollywood Nights start Nov. 9.

Persons: Ken Potrock, Mickey, Mickey's, Gavin Doyle, Doyle, —, Jack Skellington, Santa Claus Organizations: Disney, Disneyland Resort, Walt Disney, Christmas Party Locations: Orlando , Florida, Anaheim , California, Florida, California, It's, Santa

The fee turned up in September 2019, after Trump placed 25% tariffs on steel, and hasn’t gone away since. So far, the tariffs in force under both White Houses have cost Americans $79 billion, the nonpartisan Tax Foundation estimated this summer. The nation’s roughly 33 million small businesses employ nearly half the nation’s workers and generate more than 43% of the gross domestic product, the U.S. Chamber of Commerce estimates. “Whether we like it or not, Asia is the bike manufacturing hub of the world,” said Zagata, who raised prices by between 18% and 22% after the Trump tariffs took hold. San Diego-based entrepreneur Nichole MacDonald said profit margins for her patented, 10-pocket Sash Bag have been thinning in recent years as material and freight costs have jumped, and tariffs aren’t helping.

Persons: Donald Trump, Chris Smith, Trump, hasn’t, Smith, ”, Biden, —, who’ve, Erica York, Julia Demaree Nikhinson, they’re, Jonathan Gold, Gold, “ they’ve, Ryan Zagata, Zagata, he’d, Felix Tintelnot, Trump’s, ” Trump, Brian Hughes, Nichole MacDonald Organizations: Virginia Beer Co, Constellation Brands, Corona, Trump, Foundation, Tax, National Retail Federation, U.S . Chamber, Commerce, Brooklyn Bicycle Co, GOP, Duke University, “ Locations: Williamsburg , Virginia, U.S, China, Modelo, Mexico, New York City, Asia, York, Germany, Diego, India

☆ Is this the deal to end Boeing’s crippling 7-week strike?
▼ + stars: | 2024-11-01 | by ( Chris Isidore | Vanessa Yurkevich | ) edition.cnn.com time to read: +10 min

New York CNN —More than 30,000 Boeing workers will vote again Monday on whether or not to end a crippling seven-week strike. The deal is not significantly different from an offer rejected by nearly two-thirds of membership just over a week ago. And it happened 10 years ago at Boeing, when about two-thirds of members rejected an offer that ended the pension plan. Despite its many problems, Boeing is a major force in America economy, and it is the largest American exporter. Ending the strike is important for Boeing’s new CEO, Kelly Ortberg, who started in the job just five weeks before the strike began.

Persons: it’s, ”, “, John Deere, “ It’s, Brandon Felton, we’ve, Jon Holden, haven’t, ” Holden, you’ve, ’, hasn’t, Lindsey Wasson, Holden, What’s, Max fuselages, David Ryder, they’ve, Kelly Ortberg, Ortberg, “ Ortberg Organizations: New, New York CNN, Boeing, International Association of Machinists, Labor, ” Union, United Auto Workers, CNN, IAM, ”, Anderson Economic Group, Anderson, Reuters, Alaska Airlines Locations: New York, Michigan, Seattle, America

☆ Amazon shares jump 7%, approach record after earnings beat
▼ + stars: | 2024-11-01 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon shares jumped 7% on Friday and neared an all-time high after the company reported better-than-expected earnings, driven by growth in its cloud computing and advertising businesses. Revenue increased 11% in the quarter to $158.9 billion, topping the $157.2 billion estimate of analysts surveyed by LSEG. Sales in the Amazon Web Services cloud business increased 19% to $27.4 billion, coming in just shy of analysts' estimates, according to StreetAccount. That was an acceleration from 12% a year ago, but trailed growth at rivals Microsoft and Google , where cloud revenue increased 33% and 35%, respectively. The midpoint of that range, $185 billion, fell short of the average analyst estimate of $186.2 billion, according to LSEG.

Persons: Roth MKM, Brian Olsavsky, Andy Jassy, Jassy, we're, — CNBC's Ari Levy Organizations: Amazon, Revenue, LSEG, Services, Microsoft, Google, Nvidia, Meta

Peloton announced that Ford executive Peter Stern will join the company as its new CEO. The fitness company is betting Stern can help turn things around. He's expected to focus on trimming spending and retaining current Peloton subscribers. Peloton announced in May 2024 that CEO Barry McCarthy would be stepping down. McCarthy's departure came as the fitness company announced it was cutting around 15% of its workforce.

Persons: Peter Stern, Stern, —, Simeon Siegel, Neil Saunders, Saunders, Siegel, Scott Markman, Barry McCarthy, Everest Organizations: Ford, Service, Capital Markets, GlobalData, Apple

Following Friday's trade, Jim Cramer's Charitable Trust will own 30 shares of BLK, increasing its weighting to 0.85% from 0.5%. Our CNBC Investing Club Reporter Morgan Chittum took a look at a few catalysts on the horizon that can keep BlackRock's earnings momentum going. Elsewhere, BlackRock's GIP deal also shows investors that the firm "got back on the front foot" in private markets growth, Evercore ISI said in a recent note. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Morgan Chittum, Larry Fink, Fink, Biden, there's, Sudhir Nair, BlackRock's, Morgan Stanley, Jim Cramer, Jim Organizations: BlackRock, BLK, Devices, CNBC Investing, Catalyst, Global Infrastructure Partners, Biden Administration, Club, Microsoft, Preqin, Money, Federal Reserve, Boeing, CNBC Locations: BlackRock, U.S, Florida, Riyadh, Saudi Arabia

☆ Amazon said its shoppers keep choosing cheap items – and that's good for business
▼ + stars: | 2024-11-01 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Amazon's customers are buying cheap products, the retailer's top execs said in its Thursday earnings call. Amazon reported a strong third quarter, beating earnings expectations. While these items "often have a lower average selling price," Olsavsky said that these buying patterns are still a net positive for Amazon. Representatives for Amazon did not respond to a request for comment from Business Insider, sent outside business hours. Its net sales for the quarter hit $158.9 billion, outperforming analyst expectations of $157.3 billion.

Persons: execs, —, we're, Andy Jassy, Brian Olsavsky, Olsavsky, Jassy, Wells Fargo Organizations: Service, Amazon's, Amazon, Business Locations: North America

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Analysts stay bullish on Apple with hopes of an iPhone upgrade boom
▼ + stars: | 2024-11-01 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Despite a somewhat mixed quarterly report, analysts on Wall Street are sticking by Apple . Goldman Sachs reiterates buy rating and $286 price target Analyst Michael Ng's forecast implies about 27% upside from Thursday's close. UBS stays neutral on Apple stock over 'muted' iPhone demand outlook The firm's $236 per share price target calls for about 4% upside. Bank of America remains unchanged with $256 per share target price Analyst Wamsi Mohan reiterated a buy rating on Apple. "With iPhones likely flat to modestly up into Dec, we expect iPhone growth to improve through F25 and beyond."

Persons: Tim Cook, Goldman Sachs, Michael Ng's, Ng, Morgan Stanley, Erik Woodring, Woodring, qtr, David Vogt, Wamsi Mohan, Mohan Organizations: Apple, CNBC, Wall, Apple Intelligence, UBS, Bank of America Locations: CY25

Companies beat expectations, with some boosted by large cloud growth. AdvertisementThe tech giants Meta, Alphabet, Amazon, Apple, and Microsoft reported earnings this week, and investors were laser-focused on the results of AI investments. Cloud is kingMicrosoft, Alphabet, and Amazon saw significant growth in their cloud businesses, fueled by increased demand. Jeremy Goldman, EMARKETER's senior director of briefings, told BI that Microsoft's cloud business had decelerated from the "breakneck pace" of previous quarters. Related storiesWhile Google reported stronger cloud growth, Microsoft still leads it in cloud market share, and both are behind Amazon Web Services.

Persons: —, Kate Leaman, Jeremy Goldman, EMARKETER's, Amy Hood, Dan Romanoff, Andy Jassy, Tracy Woo, Forrester, AWS's, Jassy, Rufus, Sundar Pichai, Pichai, Mark Zuckerberg, Hood, Michael Field, Jaejune Kim, Lisa Su, we've Organizations: Apple, Companies, Service, Microsoft, Amazon, Morningstar, Google, Amazon Web, Amazon Web Services, Investment, Big Tech, Bank of America Securities, Meta, Nvidia, SK Hynix, Samsung, AMD, Services

☆ CNBC Daily Open: Big Tech needs to go beyond beating earnings expectations
▼ + stars: | 2024-11-01 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech drags down marketsMajor U.S. indexes slumped on Thursday, weighed down heavily by losses in Big Tech shares. While the company's cloud division missed revenue expectations, it's growing faster than it had in the same period last year. CNBC Pro checked in with Teng again to find out how his picks have performed, and if he has changed his mind on the stocks he's betting on.

Persons: Kevin Teng, Teng Organizations: CNBC, Big Tech, U.S, Japan's Nikkei, CSI, Apple, Amazon, P Global, PMI, Boeing, Wrise Private Singapore Locations: Asia, Pacific, Cupertino, China

☆ Alphabet needs more clarity on how capex will translate to revenue, says Needham's Laura Martin
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAlphabet needs more clarity on how capex will translate to revenue, says Needham's Laura MartinLaura Martin, Needham analyst, joins CNBC's 'Money Movers' to discuss tech earnings, thoughts on whether regulators should break up Alphabet, and more.

Persons: Needham's Laura Martin Laura Martin, Needham

☆ 25-year-old spent $300 on a sewing machine in high school—now her seven-figure denim brand is worn by Taylor Swift
▼ + stars: | 2024-11-01 | by ( Nicolas Vega | ) www.cnbc.com time to read: +7 min

Elena Bonvicini didn't set out to start a multimillion-dollar denim brand worn by the likes of Taylor Swift, Gigi Hadid and Kendall Jenner. Even charging her friends and classmates just $10 or $30 for a pair of jeans, Bonvicini turned a nice profit. Elena Bonvicini Founder, EB DenimAt college, Bonvicini worked diligently to expand EB Denim. This exposure also got EB Denim into high-end retailers like REVOLVE and Selfridges. By the time she was a junior, she says EB Denim was bringing in over $1 million in revenue and had a small handful of employees and interns.

Persons: Elena Bonvicini didn't, Taylor Swift, Gigi Hadid, Kendall Jenner, Bonvicini, Elena Bonvicini, EB, Chiara Ferragni, Danielle Bernstein, Kylie Jenner of, —, seamstresses, couldn't, Kylie Jenner, Hailey Bieber, Bella Hadid Organizations: CNBC, Denim, EB, Melrose Trading, Flea, USC Locations: Southern California, Wisconsin, influencers, Kylie Jenner of Italy

☆ Russia faces a crisis regardless if Putin ends or continues the war in Ukraine, economist says
▼ + stars: | 2024-11-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia faces a crisis whether it continues the war or not, economist Alexander Mertens says. War spending has been a major boost to Moscow's GDP growth and wealth, and ending the war will be tricky. If Russia continues the war, the economy looks on track for a "severe recession" and long-running stagnation, Mertens said. "The current state of the Russian economy is far from critical but it does present Putin with a dilemma. The Russian economy is not yet close to collapse, but it is increasingly dependent on wartime conditions and faces growing risks of overheating."

Persons: Alexander Mertens, —, Vladimir Putin, Mertens, Merten, Putin, That's Organizations: Service, Kyiv's International Institute of Business, Ukraine, Atlantic Council, Russian National Welfare Fund, Kremlin, International Monetary Fund Locations: Russia, Ukrainian, Ukraine

☆ Google employees pressure costumed execs at all-hands meeting for clarity on cost cuts
▼ + stars: | 2024-11-01 | by ( Jennifer Elias | ) www.cnbc.com time to read: +2 min

Alphabet executives, donning Halloween costumes, faced questions from concerned employees at an all-hands meeting on Wednesday, following comments on the company's earnings call suggesting that more cost cuts are coming. "There is a reality to it," said Brian Ong, vice president of Google recruiting, according to a recording of the meeting reviewed by CNBC. Ashkenazi said one of her key priorities in the new role would be to make more cuts as Google expands its spending on artificial intelligence infrastructure in 2025. Google has been restructuring its workforce to move more quickly in the AI arms race, where it faces increased competition. Within Google, employees have expressed concern that the company is preparing for more layoffs, possibly after the end of the year, according to internal correspondence viewed by CNBC.

Persons: Brian Ong, Ong, Anat Ashkenazi, Ruth Porat, Jeff Dean, Ashkenazi, Reggie Miller, Sundar Pichai, That's Organizations: Google, CNBC, Indiana Pacers, Amazon Locations: Silicon Valley

☆ This common mistake can tank a salary negotiation in minutes, says hiring expert: 'It looks like a cash grab'
▼ + stars: | 2024-11-01 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

The secret to a successful salary negotiation isn't what you ask for, but how you do it. Explaining why you deserve a higher salary makes the conversation more collaborative than confrontational. It also shows the hiring manager that you're invested in the role and have done your homework, Broda adds. Ultimately, "hiring managers are on your side in salary negotiations," says Broda. Take CNBC's new online course How to Negotiate a Higher Salary.

Persons: Adam Broda, Broda Organizations: Amazon, CNBC, LinkedIn

☆ Some Democratic political advertisers are still betting on X, despite Elon Musk's allegiance with Donald Trump
▼ + stars: | 2024-11-01 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Elon Musk's ownership has shifted X's political stance, affecting Democratic ad spending. X switched political ads back on last year as it looked to recoup lost revenue after a brand exodus. AdvertisementWhile some Democratic political advertisers — including Kamala Harris' presidential campaign — have stopped spending on X altogether, a small number are holding firm. It ceased taking political advertising in 2019 under former CEO Jack Dorsey; Musk reversed that decision last year. The research firm EMARKETER predicted that political ad spending in the US will top $12 billion this year.

Persons: X, —, Kamala Harris, Elon Musk, revved, hasn't, Colin Allred, Sen, Ted Cruz, Jon Tester, Tim Sheehy, — Jon Tester, it's, Harris, Linda Yaccarino, Tyler Goldberg, Mike Nellis, Nellis, I've, Matthew Madrazo, Jonathan Phelps, X's, Ned Segal, Jack Dorsey, Musk, Elon, Mark Jablonowski, Andy Kiersz Organizations: Elon, Democratic, Service, Twitter, Trump, Texas Senate, Montana, Solutions, Republican, Fox News, Democrats, Nellis, Media, X, Financial Times, Meta, Google Locations: Texas, Montana, Washington ,

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Berkshire Hathaway, Intel, Datadog, Uber & more
▼ + stars: | 2024-11-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Citi reiterates Amazon as buy Citi said the e-commerce giant has "multiple catalysts for growth" following earnings on Thursday. Gordon Haskett upgrades Uber to buy from hold The firm said investors should buy the dip in Uber following earnings on Thursday. Goldman Sachs initiates Penguin Solutions as buy Goldman called Penguin a "high performance hardware solutions for enterprise AI at an attractive valuation." Wells Fargo downgrades Estee Lauder to equal weight from overweight Wells downgraded the stock following a disappointing earnings report on Thursday. KeyBanc upgrades Atlassian to overweight from sector weight KeyBanc upgraded the software company following earnings.

Persons: Goldman Sachs, Gordon Haskett, Goldman, Wells, Estee Lauder, it'll, Atlassian, Kinder Morgan, Morgan Stanley, Arista, Datadog, it's, CFRA, Berkshire Hathaway, Jefferies Organizations: Apple, Apple Intelligence, Citi, Amazon, Penguin Solutions, Penguin, Suncor Energy, " Bank of America, Nvidia, Artificial, TAM, Bank of America, UBS, Intel, Mizuho, IDA, Energy Locations: Asia

☆ Wealth manager for the super-rich names 3 stocks to buy before the year-end
▼ + stars: | 2024-11-01 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Equity markets rallied this year, as investors remained bullish on Big Tech but also scooped up shares in under-the-radar companies. Year-to-date, shares in Exxon have gained 16.7%, while the stock of Barrick and Microsoft have gained around 10.8% and 15% respectively. Microsoft Teng remains bullish on Microsoft, despite Wrise making a "partial switch" and reducing its weight in the tech giant while increasing allocations to Nvidia in early August. Microsoft and and Nvidia are among the so-called Magnificent Seven stocks, which also include Alphabet , Amazon , Apple , Meta Platforms and Tesla . Nike Athletic footwear and apparel label Nike is another stock that Teng likes, despite bearish sentiments in Wall Street.

Persons: Kevin Teng, —, Barrick, Barrick Gold Teng, Microsoft Teng, Teng, OpenAI, AlixPartners, Walt Disney, Mickey Mouse Organizations: Big Tech, CNBC Pro, Wrise Private Singapore, Microsoft, behemoth Exxon Mobil, Barrick Gold, Exxon, Barrick, Exxon Mobil, Nvidia, Apple, Tesla, Nike Athletic, Nike, Disney, Marvel Studios, Disney Plus, 4Q, Pixar Animation Studios Locations: Asia, East, Europe, Wall Street

☆ What the new 401(k) limits and other changes mean for your retirement
▼ + stars: | 2024-11-01 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +4 min

The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday. The catch-up contribution limit will remain the same at $7,500. Now for an ounce of reality: Most people do not max out their 401(k) savings, whatever their applicable contribution limit. Higher income thresholds for IRAsThe IRS did not increase the contribution limits for individual retirement accounts, known as IRAs. If you’re married and filing jointly and you personally are covered by a workplace retirement plan, your joint modified AGI must not exceed $146,000, up from $143,000.

Persons: CNN —, —, “, Roth IRAs, Roth, you’re Organizations: CNN, Internal Revenue Service, IRS, Vanguard, America, Social, Fidelity

☆ Stocks making the biggest moves premarket: Amazon, Apple, Atlassian and more
▼ + stars: | 2024-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street's estimates. Chevron topped Wall Street's third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion.

Persons: Atlassian, FactSet, Abbott, Ernst, Young, Wall, LSEG, —, Jesse Pound, Sean Conlon, Pia Singh, Sarah Min Organizations: Amazon Web Services, Apple —, Intel —, LSEG, Abbott, Boeing —, . Avis Budget, Chevron, Exxon Mobil —, Exxon, Juniper Networks, Hewlett Packard Enterprise Locations: Europe, Missouri

☆ These are the most overbought stocks as November kicks off
▼ + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Investors have been accumulating shares of several big-name companies, from GE Vernova to United Airlines , during the market's recent dip. But those and other overbought stocks could be due for a pullback, according to one popular yardstick. Strong earnings from tech giants Amazon and Intel late Thursday were partly responsible for equity gains on Friday, as investors still look to megacap tech stocks for leadership. CNBC Pro screened for stocks that are considered technically overbought on the basis of their 14-day relative strength index, or RSI. Companies with a 14-day RSI above 70 are often regarded as overbought, signaling a pullback may be ahead, while a 14-day RSI below 30 often suggests a stock is oversold and could see future upside.

Persons: Nicole DeBlase, DeBlase, FactSet, Estée Lauder, Dr Pepper Organizations: GE Vernova, United Airlines, Dow, Nasdaq, Amazon, Intel, CNBC Pro, Companies, GE, FactSet, Electric, Deutsche Bank, Pharmaceuticals, eBay Locations: United, U.S, Chicago, China

☆ Chevron beats earnings expectations, returns more than $7 billion to shareholders
▼ + stars: | 2024-11-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders. The company is also targeting $2 billion to $3 billion in cost reductions from 2024 through the end of 2026. When adjusted for foreign currency impacts, the company reported earnings of $2.51 per share, solidly topping Wall Street's expectations for the quarter. Chevron booked revenue of $50.67 billion, also beating Street expectations but declining 6% from the $54.1 billion reported in the third quarter last year. The oil major returned a record $7.7 billion to shareholders in the quarter, including $4.7 billion in share buybacks and $2.9 billion in dividends.

Persons: Hess, John Hess Organizations: Chevron, LSEG, Federal Trade Commission, Exxon Mobil, Hess Corp Locations: Canada, Congo, Alaska, Guyana

☆ You can contribute even more to your 401(k) in 2025—here's what to know
▼ + stars: | 2024-11-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

You can put even more of your pre-tax dollars toward saving for retirement in 2025. The Internal Revenue Service announced the new 401(k) contribution limits for 2025 on Friday. Individuals can contribute up to $23,500 to employer-sponsored retirement accounts including 401(k)s, 403(b)s, most 457 plans and federal Thrift Savings Plans. People in that age range can contribute an additional $11,250 in 2025 to hit a maximum contribution of $34,750. If you don't have access to a 401(k) or want an additional retirement account, savers can contribute up to $7,000 to an individual retirement account in 2025, plus an additional $1,000 for those ages 50 and older, the same limits as in 2024.

Persons: Roth Organizations: Internal Revenue Service, Savings, People

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