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☆ Top Amazon aggregator Thrasio files for bankruptcy
▼ + stars: | 2024-02-28 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

Thrasio, an early leader in the big business of Amazon aggregators, had a booth at the popular Prosper Show for Amazon sellers in Las Vegas, Nevada, on July 14, 2021. Thrasio, an early leader in aggregating Amazon sellers, filed for Chapter 11 bankruptcy protection in a New Jersey court Wednesday. Thrasio and other Amazon aggregators raised billions of dollars from investors looking to cash in on the third-party seller rollup craze. Aggregators bought up promising products and storefronts on Amazon, to use their data and operational expertise to turbocharge sales. WATCH: What's behind the big hype and billion-dollar aggregator start-ups buying Amazon seller brands

Persons: Prosper, Thrasio, Greg Greeley, Aggregators, Josh Silberstein, Carlos Cashman Organizations: Amazon, fizzle, CNBC Locations: Las Vegas , Nevada, New Jersey, Greeley

☆ Tiny home sensation Boxabl welcomes investors in as its founders plan to cash out $10 million
▼ + stars: | 2024-02-28 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +5 min

As the company has sought a financial lifeline by inviting more investors in, its cofounders are cashing out. The Tiramanis together previously sold off about $10 million of their shares in a 2022 fundraising round and have awarded themselves annual salaries of close to a million dollars each. "Maybe they're afraid that if they don't sell shares now they will walk away with nothing." A spigot of cash running dryBoxabl is seeking to raise $64 million in the share offering, an additional $10 million for the Tirmanis, and $1 million for other insiders at the company. AdvertisementAmong the insiders in the company seeking to sell shares in the funding round are Darryl and Lucille Maslak, the parents of Shawna Maslak, Galiano's wife.

Persons: —, Paola Tiramani, Galiano, Chad Cohen, Erik Gordon, Cohen, Darryl, Lucille Maslak, Shawna, Gordon Organizations: Service, Business, Scala Advisors, University of Michigan's Ross School of Business, Securities and Exchange Commission, University of Michigan Locations: North Las Vegas , Nevada, Canada

☆ To Protect Your Miles, Be Careful How You Book
▼ + stars: | 2024-02-28 | by ( Elaine Glusac | ) www.nytimes.com time to read: 1 min

Earlier this month, American Airlines announced that beginning May 1, it will require travelers to book directly with the airline, partner airlines or “preferred travel agencies” in order to receive points in its loyalty program. The unprecedented move confused many travelers eager to protect their mileage currency, prompting posts like this one on X: “@AmericanAir your news about earning miles/loyalty points is a bit concerning — we’re loyal to you no matter who we book through!”In an email, a representative of the airline said that the approved list of travel agencies would not be published until April. While there is much to be determined about the new policy, a battle for customers between the airline and third-party ticket sellers, which includes online travel agencies like Orbitz, has emerged. Here’s what travelers should know before booking their next flight.

Persons: we’re Organizations: American Airlines

☆ Financial lessons to be learned from the viral 'Who TF Did I Marry?' TikTok series
▼ + stars: | 2024-02-27 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +7 min

Some financial abusers use their partners to take out massive amounts of debt or make expensive purchases in their name. But experts told BI there are some early warning signs to keep an eye out for that may mean you're not a financial match. Andrea Woroch, a consumer finance and budgeting expert, told BI that partnering up with someone with similar financial values when it comes to spending and saving helps to minimize financial conflicts and fights. AdvertisementJacqueline Newman, a divorce attorney, told BI that someone who is "incredibly shady" about their income, or constantly changes their stories about their finances could be hiding something. "Keep an eye on their purchasing habit," he told BI.

Persons: —, Reesa Teesa, it's, Teesa, Legion, Jerome JC Rome McCoy, MailOnline, McCoy, Andrea Woroch, Woroch, Jacqueline Newman, Chad Willardson, Willardson, I've, Newman Organizations: Service, Business, Legion, Facebook, BI Locations: Covid

☆ 10 fascinating facts about Nvidia CEO Jensen Huang, who has a company tattoo and dozens of direct reports
▼ + stars: | 2024-02-27 | by ( Aaron Mok | ) www.businessinsider.com time to read: +6 min

Nvidia cofounder and CEO Jensen Huang is on track to be one of the richest people in the world. Here are 10 surprising facts about Huang, from his Nvidia tattoo to his staggering number of direct reports. AdvertisementJensen Huang, the CEO and cofounder of Nvidia, is leading the charge towards an AI future — with his company making billions. He has a tattoo of Nvidia's logo on his shoulderNvidia founder, president and CEO Jensen Huang displays his tattoo in September 2010. "The more direct reports the CEO has, the less layers are in the company," Huang said during an interview at the 2023 DealBook Summit.

Persons: Jensen Huang, Huang, —, who's, it's, Lori, Chris Malochowsky, Curtis Priem, Robert Galbraith, you've, Fortune, Noah Berger, what's, He's, he'll, Jackie Chan Organizations: Nvidia, Service, Oneida Baptist Institute in, Wired, NPR, Oregon State University, HP, Stanford, New York Times, Wilson Jackets, New Yorker, Yorker, New York Times DealBook Locations: Oneida Baptist Institute in Kentucky, California, Shutterstock

☆ Empty office buildings won't be the solution to the US housing shortage
▼ + stars: | 2024-02-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The US housing market faces an inventory shortage, but empty offices don't offer a solution. Goldman Sachs strategists say that offices can't be cheaply or easily converted into residential units. Goldman Sachs Investment Research, CoStar dataIn the same stretch, a combination of high mortgage rates and home prices with limited housing inventory has frozen the US housing market. Residential housing affordability has declined for the last 15 years and hit a historical low in 2022. "Our analysis implies that only 0.8% of US office inventory is currently priced at a level that makes conversion to multifamily housing financially feasible," the bank maintained.

Persons: Goldman Sachs, —, it's, Goldman, Jan Hatzius Organizations: Service, Goldman Sachs Investment Research, Goldman, San Locations: San Francisco, Los Angeles, Seattle

☆ Your home sale may leave you in a tax shock. Here's how to reduce your capital gains tax bill
▼ + stars: | 2024-02-24 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Those gains could trigger a tax bill this season, depending on the size of the windfall, experts say. In 2023, home sellers made a $121,000 profit on the typical median-priced single-family home, according to ATTOM, a nationwide property database. Still, "the tax laws were written to encourage homeownership," and many sellers qualify for a tax break, Ringbauer said. Single homeowners can shield up to $250,000 of home sales profit from capital gains taxes and married couples filing jointly can exclude up to $500,000, provided they meet IRS eligibility. Who qualifies for the capital gains exemptionsThere are strict rules to qualify for the $250,000 or $500,000 capital gains exclusions, Ringbauer warned.

Persons: Witthaya, Miklos Ringbauer, Ringbauer, you've, There's, Assunta McLane Organizations: Summit Place Financial Locations: Los Angeles, Summit , New Jersey

The economy has been doing surprisingly well so far this year, and it's pushing mortgage rates back up. Average 30-year mortgage rates rose 13 basis points to 6.90% this week, according to Freddie Mac. Average 15-year mortgage rates also increased to 6.29% this week, a 17-point jump. Once the Federal Reserve starts lowering the federal funds rate, mortgage rates are expected to go down as well. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Prepare for house price growth to slow, says First American chief economist
▼ + stars: | 2024-02-22 | by ( Chris Johnston | ) www.businessinsider.com time to read: +3 min

First American's chief economist told Fortune that lower mortgage rates will cool price growth. First American chief economist Mark Fleming told Fortune that the pace of price growth has likely topped out because mortgage rates are poised to decline this year. The hikes fueled an increase in 30-year mortgage rates to more than 8% in October — a two-decade high. AdvertisementLower mortgage rates promise to boost demand, as buyers will be able to afford more expensive homes once again. "Shark Tank" investor Barbara Corcoran disagreed, predicting they would pop by 15% or 20% once mortgage rates dropped to about 5%.

Persons: Fortune, —, Mark Fleming, Sellers who'd, they'd, Fleming, Elon Musk, Barbara Corcoran Organizations: Service, First, Business

☆ Dunkin’ is now selling caffeinated energy drinks, even after Panera’s charged lemonade controversy
▼ + stars: | 2024-02-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Dunkin’ is adding an energy drink to its menu to capture some of the buzz generated by heavily caffeinated beverages, which are surging in popularity. But the menu addition comes with a risk: Panera Bread is facing multiple lawsuits over its its own energy drink. The Dunkin’ energy drink has less caffeine for a similarly sized cup with 192 mg for both flavors, according to its website. Despite the controversy, energy drinks are big sellers for chains. At Dutch Bros, a fast-growing chain, its lineup of energy drinks accounts for a quarter of its sales.

Persons: New York CNN — Dunkin, Dunkin, ” Dunkin ’, Panera, “, CNN’s Eva Rothenberg Organizations: New, New York CNN, US Food and Drug Administration, CNN, Dutch Bros Locations: New York

☆ Leak: Amazon retail CEO tells employees about his 'AI show and tell' and warns of companies that 'failed to adapt' to big technology shifts
▼ + stars: | 2024-02-20 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

“I would say it's important to remember that history is littered with big successful companies who faced big technology shifts,” Herrington said during the event. Internally, Amazon is scrambling to brainstorm new AI projects . Herrington oversees Amazon’s entire retail business, including the online marketplace, healthcare unit, and logistics service. While mentioning big companies that failed to adapt to these transitions and ultimately phased out, Herrington said he’s confident Amazon is going to be a leader in AI. Advertisement“It's all of our responsibility together to make sure that's not going to be the Amazon story,” Herrington said.

Persons: —, Doug Herrington, ”, Herrington, “, ” Herrington, didn’t, ’, There’s, Andy Jassy Organizations: Service, Amazon, Business

Its price target of $4,380 suggests nearly 18% upside from Friday's close. "We expect numbers to reset lower (again) with the downward revision a negative catalyst for the multiple, and the margin story likely being pushed out to 2025," wrote analyst Christian Carlino. Analyst Anthony Powell accompanied the move by raising his price target to $204 from $194, implying a potential 15% rally for the stock. The investment firm upgraded the airline stock to market-perform from underperform, boosting its price target to $32 from $26. His price target of $338 per share implies upside of just 5% from Friday's close.

Persons: Bernstein, Evercore, Piper Sandler, Brian Mullan, Mullan, — Jesse Pound, Aaron Kessler, — Michelle Fox, JPMorgan downgrades Holley, Holley, Christian Carlino, Carlino, HLLY, hasn't, — Lisa Kailai Han, AvalonBay, Anthony Powell, Powell, AVB, Lisa Kailai Han, Joshua Shanker, Morgan Stanley, bullish Tesla, Tesla, Adam Jonas, Jonas, Russell Quelch, Quelch, MSCI, Arun Viswanathan, Viswanathan, Rosenblatt, Hans Mosesmann, Mosesmann, Michael Linenberg, Linenberg, David Vernon, David Raso, Raso, Assuredness, Fred Imbert, ~$ ~$ Organizations: CNBC, Airlines, Southwest Airlines, Deutsche Bank, JetBlue, Caterpillar, Foods, . Restaurant, Seaport Research, Booking Holdings Seaport Research Partners, Booking Holdings, JPMorgan, Barclays, Bank of America, AIG, of America, Tesla Network, RBC, Ball Corporation, Markets, Ball Corp, Aerospace, BAE Systems, Ball, Micro Computer, Super Micro Computer, Micro, ASM, Spirit Airlines, Bernstein, Spirit, Boeing Max, ISI, CAT Locations: Southwest, Friday's

☆ We're debating buying Palo Alto's sharp post-earnings drop. Here's what we're considering
▼ + stars: | 2024-02-20 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Palo Alto Networks has been at the forefront of this trend because it's the best-of-breed in 21 categories. PANW 1Y mountain Palo Alto Networks 1 year However, we're not going to try to go in and out of Palo Alto. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. Nikesh Arora, Palo Alto Networks Adam Galica | CNBC

Persons: billings, Nikesh Arora, Arora, We've, Jim Cramer, we're, –, I'm, Jim, Let's, Jim Cramer's, Galica Organizations: Palo Alto Networks, Revenue, LSEG, billings, Alto Networks, Securities and Exchange Commission, SEC, Palo, CNBC Locations: U.S, cybersecurity, billings, Palo, Palo Alto

☆ The economy's gone from strength to strength after the pandemic — but no one quite knows why, or what comes next
▼ + stars: | 2024-02-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +8 min

America has gone from a pandemic crash and recession fears to stocks at record highs and an economic boom. Lockdowns, wars, shortages, inflation, interest rates, day trading, and AI have all played a role. Noam Galai/SOPA/Getty ImagesMany Americans also socked away money during the pandemic, as they saved on expenses like travel and live entertainment. Stimulus-fueled demand, combined with pandemic and war-related supply disruptions, caused inflation to spike to a 40-year high of 9.1% in June that year. The Fed swiftly raised interest rates to rein in the price growth, lifting them from virtually zero to upward of 5% in under 18 months, and hasn't touched them since.

Persons: —, We've, Noam Galai, hasn't, It's, dory Organizations: Service, Federal Reserve, GameStop, AMC Entertainment, AMC, Bank Locations: America, China, Ukraine

☆ Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business
▼ + stars: | 2024-02-20 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +2 min

Walmart has agreed to buy TV maker Vizio , the companies announced Tuesday, as the largest U.S. retailer grows its high-profit ad business. Walmart will acquire Vizio for $2.3 billion, or $11.50 per share, in cash. But in buying the company, Walmart touted the potential to boost its ad business through Vizio's SmartCast Operating System, which allows users to stream free ad-supported content on their TVs. As it pushes for higher profits, the retail titan has tried to expand its media business Walmart Connect, which comes with bigger profit margins than selling groceries or clothing. In a news release, Walmart said Vizio's SmartCast system has 18 million active accounts.

Persons: Seth Dallaire Organizations: Walmart, Vizio, Walmart Connect, Walmart U.S, CNBC PRO Locations: Secaucus New Jersey, U.S

☆ Walmart beats Wall Street’s holiday expectations as e-commerce sales soar
▼ + stars: | 2024-02-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

In this article WMT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowWalmart said Tuesday that quarterly revenue rose 6%, as shoppers turned to the big-box retailer throughout the holiday season and the company's global e-commerce sales grew by double digits. Yet, he said even after the holiday rush, Walmart saw continued sales strength. Walmart said it expects consolidated net sales to rise 4% to 5% in its fiscal first quarter. Comparable sales, an industry metric also known as same-store sales, rose 4% for Walmart U.S. At Sam's Club, comparable sales increased 1.9%, including fuel. Global e-commerce sales jumped 23% year over year, topping $100 billion in total.

Persons: John David Rainey, Rainey, Walmart's, Doug McMillon, McMillon Organizations: Walmart, CNBC, Electronics, LSEG, Walmart U.S, Sam's Club, Global, Home Locations: U.S

If inflation remains near current levels or looks like it's ticking back up, mortgage rates could climb higher. Average 30-year mortgage rates rose 13 basis points to 6.77% this week, according to Freddie Mac. Once the Fed starts lowering its benchmark rate, the federal funds rate, mortgage rates are expected to go down as well. This means we might not see mortgage rates fall substantially until the second half of 2024. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, Price, you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Housing-market activity stalls in January amid uncertain rate outlook
▼ + stars: | 2024-02-16 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . After showing stronger signs of life in recent months, activity in the US housing market shifted back to low gear in January. The culprit behind the slowdown has been more subdued expectations for rate cuts by the Federal Reserve, which has, in turn, kept mortgage rates high. The 30-year fixed mortgage rate rose to 6.87% last week, an uptick after a period of steady declines.

Persons: —, Hal Bennett, Bennett Organizations: Service, Federal Reserve, Investors Locations: Bellevue , WA

☆ What's behind the 'once-in-a decade momentum' in Arm Holdings stock
▼ + stars: | 2024-02-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

"That's just created this once-in-a-decade momentum," said Mehdi Hosseini, an equity research analyst covering the stock at Susquehanna International Group. While the company posted robust results and guidance, analysts have cast doubt over the magnitude of recent stock moves, which include a 48% post-earnings rally and a 19% drop during Tuesday's session. ARM mountain 2024-02-08 Arm since reporting earnings One key factor at play is the limited number of shares in the marketplace. Traders typically buy shares short as a bet that the price of an asset will fall. The unwavering excitement around AI that's driven an investing frenzy over the last year may also be a factor at play with Arm.

Persons: That's, Mehdi Hosseini, Needham, Charles Shi, Ryuta Makino, there's, SoftBank, Hosseini, Shi Organizations: Holdings, Susquehanna International Group, Apple, Nvidia, Devices, ARM, GAMCO Investors, Retail, Tesla, Vanda Research, Partners, Traders

☆ Investors bought a record 26% of the affordable houses in the US last quarter
▼ + stars: | 2024-02-15 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

US property investors snapped up 26.1% of low-priced homes in the fourth quarter, a record share. Single-family homes accounted for more than two-thirds of investors' purchases in Q4, at 68.6%. Zooming in, low-priced homes accounted for 46.5% of investor purchases, with mid-priced homes at 24.6% and high-priced homes at 28.8%. Inventory is still low across the country as sellers cling to lower mortgage rates they locked in years ago. It's worth noting though that big institutions make up a small percentage of investors in the market buying homes.

Persons: —, Redfin, Carrie Caruthers, Sheharyar Organizations: Service, Department of Housing, Urban Development Locations: California

☆ Now Hibernating: Chocolate Chip Ice Cream
▼ + stars: | 2024-02-15 | by ( Matt Richtel | ) www.nytimes.com time to read: +1 min

Her husband, Mark, 68, has long been a fan of chocolate chip, but he doesn’t see it around much anymore. “In the small container.” Then she corrected herself: “Oh, that’s chocolate chocolate chip.”Vanilla chocolate chip ice cream, once a staple of the ice cream world and one of the top sellers of all time, has fallen out of favor. The flavor can still be found (a closer inspection of the Safeway aisle in this university mountain town revealed pints of Baskin Robbins’s chocolate chip), but it has been losing ground to flavors with more stuff, like cookies and cream and chocolate chip cookie dough. Those two flavors are among the nation’s top five best sellers, according to the International Dairy Foods Association, while chocolate chip no longer makes the top 10. “Chocolate chip used to be a flavor we produced constantly,” said Christine Crowley, communications specialist for Babcock Dairy Plant, which has 75 years of ice-cream making under its belt, in Madison, Wis. Chocolate chip hasn’t been a staple for a decade, she said: “Now it’s seasonal.”

Persons: Cherry Garcia, Dr Pepper, Robin Sawyer, Mark, Ms, Sawyer, “, ”, Christine Crowley Organizations: Safeway, International Dairy Foods Association, Babcock Dairy Plant Locations: Baskin, Madison, Wis

☆ True Religion explores a sale as maximalist, Y2K-era styles make a comeback
▼ + stars: | 2024-02-15 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

The hedge fund that owns True Religion is exploring a sale of the Y2K-era jeans brand as it returns to growth and profitability after emerging from its second bankruptcy, CNBC has learned. It's unclear what valuation True Religion is seeking, but it could sell for a mid single digit multiple of its EBITDA, the people said. Farmstead Capital Management, True Religion's owner, has hired Baird to run the sale process. True Religion went public in 2003 and made headlines for its growth and profits. Buckley, who helmed the company during its 2000s heyday and returned in 2019, has transformed True Religion into a leaner machine.

Persons: Baird, Baird didn't, Juicy Couture, Jessica Simpson, Britney Spears, Neiman Marcus, Bloomingdales, Michael Buckley, athleisure, Buckley, Levi Strauss, Levi, Michael Kors, Ralph Lauren Organizations: CNBC, Farmstead Capital Management, Saks Fifth, Religion, Nike Locations: Angeles

☆ The epic stock rally will end badly, the AI bubble will burst, and the economy will sink, warns elite investor Jeremy Grantham
▼ + stars: | 2024-02-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Jeremy Grantham warned US stocks and the economy are headed for trouble. The elite investor and market historian said the AI frenzy is a bubble that's bound to burst. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Please be advised, the rest of the world is looking with amazement at the US, the US economy, the US stock market," he said. It's worth emphasizing that the US stock market and economy have defied Grantham's warnings of crashes and recession for several years now, and might well continue to do so.

Persons: Jeremy Grantham, Grantham, —, you've, it's Organizations: Service, Exchange, Nvidia, Microsoft Locations: Miami, Ukraine, Gaza

That platform's average ticket price was $394 on Wednesday. Face value for Iowa women's basketball tickets is about $15 when broken out of a season-ticket package, assistant athletic director for ticket operations Jess Rickertsen said. Logitix, which collects data from multiple secondary market sellers, reported the average price paid for Michigan-Iowa over the past seven days was $375. “The progressively increasing average ticket price is interesting,” Logitix spokesperson Eric Nemeth said in an email. The overall record average purchase price probably will be smashed in less than a month.

Persons: —, Caitlin Clark, Jess Rickertsen, Clark, Kelsey Plum, ”, Eric Nemeth, Will Norris, ” Norris, Steve Megargee, ___ Organizations: IOWA CITY, NCAA, Michigan, Carver, Iowa, Washington, Wolverines, Nebraska, Super Bowl, Ohio State, AP, womens Locations: IOWA CITY , Iowa, Iowa

MEXICO CITY (AP) — Mexican regulators have ordered online retailers Amazon and Mercado Libre to reveal their algorithms, and to wall off TV streaming to avoid stifling competition. The COFECE order also covers the biggest Latin American online retailer, the Uruguay-based firm Mercado Libre. The commission said it had laid out corrective measures that would include prohibiting Amazon from promoting its TV streaming service as an incentive for consumers to buy Amazon Prime memberships. The COFECE also ordered Amazon not to take the “logistics” method — the manner of delivering purchases — into account in determining the order or prominence of search results. Online sellers have complained in the past that Amazon Prime forces vendors to use the company's own delivery services.

Persons: Mercado Organizations: MEXICO CITY, Amazon, Mercado Libre, Mexico’s Federal, Economic, U.S . Federal Trade Commission Locations: MEXICO, Mexico, Uruguay, Seattle

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