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The Norwegian Pearl cruise ship is seen docked at Miami port, after Norwegian Cruise Line Holdings Ltd cancelled sailings amid rising fears of Omicron-related coronavirus infections, in Miami, Florida, U.S. January 5, 2022. Rival Royal Caribbean (RCL.N) last week forecast an upbeat third-quarter profit as well as lifted its annual profit expectations. Norwegian Cruise forecast its annual adjusted EBITDA, a key measure of profitability, between $1.85 billion and $1.95 billion, up from $1.80 billion to $1.95 billion previously. Despite undertaking price hikes on its itineraries, Norwegian Cruise has been bogged down by inflation and higher labor costs. Rival Carnival (CCL.N) has also forecast third-quarter profit below estimates on higher costs.

Persons: Marco Bello, Patrick Scholes, Royal, Harry Sommer, Norwegian's, Granth, Shinjini Organizations: Cruise Line Holdings Ltd, REUTERS, Reuters, Cruise, Royal, Truist Securities, Norwegian Cruise, Thomson Locations: Norwegian, Miami, Miami , Florida, U.S, Royal Caribbean, Bengaluru

☆ Norwegian Cruise projects third-quarter profit below estimates as costs bite
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Norwegian Cruise Line (NCLH.N) forecast third-quarter profit below estimates on Tuesday as higher costs offset its gains from pent-up demand for leisure travel and raised ticket prices, sending its shares down about 10% before the bell. Despite undertaking price hikes, higher costs and spiraling marketing expenses have eroded the benefits of a recent resurgence in demand from affluent customers. Rival Carnival (CCL.N) has forecast third-quarter profit below estimates, signalling that rising marketing and labor costs were eating into its gains from higher ticket prices and steady demand. Norwegian Cruise expects third-quarter adjusted profit of 70 cents per share, compared with analysts' average estimate of 79 cents, according to data from Refinitiv. However, the cruise operator expects full-year adjusted profit of 80 cents per share, compared with its earlier forecast of 75 cents.

Persons: Granth, Shinjini Organizations: Cruise, Carnival, Royal Caribbean Cruises, Norwegian Cruise, Thomson Locations: Russia, Ukraine, Norwegian, Refinitiv, Bengaluru

☆ Stocks making the biggest moves midday: Coinbase, SoFi, DoorDash and more
▼ + stars: | 2023-08-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

DoorDash — Shares tumbled about 4% ahead of the company's quarterly earnings announcement Wednesday after the bell. Despite reporting better-than-expected earnings and revenue in the second quarter, its third-quarter revenue guidance was lower than analysts were expecting. Leidos Holdings — The defense solutions company's shares rallied 6.7% after its second-quarter results topped analyst estimates. Eaton Corporation — The power management company's shares increased 5.6% after beating analyst expectations on both earnings and revenue in the second quarter. Meanwhile, analysts had estimated $2.59 earnings per share on $2.19 billion in revenue, according to FactSet.

Persons: Refinitiv, ResMed, Adrienne Yih, Leidos, FactSet, — CNBC's Alexander Harring, Yun Li, Pia Singh, Tanaya Macheel, Michelle Fox, Sarah Min Organizations: Toyota, Securities, SEC, RBC, Barclays, JetBlue Airways –, American Airlines, Technologies, Cruise Line Holdings, Norwegian Cruise Line, Rockwell Automation, Systems, Molson Coors Beverage —, StreetAccount, Leidos Holdings, Eaton Corporation, Global Payments Locations: San Diego , U.S, Manhattan, Monday's, FactSet

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2023. Uber (UBER.N) fell after the ride-hailing company missed second-quarter revenue expectations. Arista Networks (ANET.N) stocks rose as the network gear maker forecast quarterly revenue above estimates after delivering better-than-expected results. According to preliminary data, the S&P 500 (.SPX) lost 12.25 points, or 0.26%, to end at 4,576.94 points, while the Nasdaq Composite (.IXIC) lost 62.11 points, or 0.43%, to 14,284.20. JetBlue Airways (JBLU.O) stocks dropped after it lowered its annual profit forecast due to a hit from the termination of its revenue-sharing deal with American Airlines (AAL.O).

Persons: Brendan McDermid, It's, Scott Ladner, Echo Wang, Johann M Cherian, Vinay Dwivedi, Richard Chang Organizations: New York Stock Exchange, REUTERS, PMI, Dow, Nasdaq, Horizon Investments, Caterpillar, Pfizer, Treasury, Arista Networks, Dow Jones, Norwegian Cruise, JetBlue Airways, American Airlines, Thomson Locations: New York City, U.S, New York, Bengaluru

☆ Op-ed: Gottlieb says A.I. may take on doctors' roles sooner than later
▼ + stars: | 2023-07-31 | by ( Scott Gottlieb | ) www.cnbc.com time to read: +7 min

The AI tools being applied to healthcare can generally be divided into two main categories. The first encompass large language models that are applied to administrative functions like processing medical claims or creating and analyzing medical records. In fact, up to 30 percent of radiology practices have already adopted AI tools. Right now, there are only a few clinical language models, and even the largest ones possess a relatively small number of parameters. As the quality and scope of clinical data available for training these large language models continue to grow, so will their capabilities.

Persons: Scott Gottlieb, ChatGPT, Amazon's, retinopathy, IBM's, Watson, they're, William J Organizations: CNBC, Pfizer, Aetion Inc, Cruise Line Holdings, Harvard, FDA, Oncology, Google, Healthcare

☆ Energize Capital just raised a $300 million fund to back growth-stage climate tech startups. Here's the 11-slide pitch deck it used to get investors on board.
▼ + stars: | 2023-07-31 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +2 min

Chicago-based climate software fund Energize Capital just raised $300 million in growth funds. Chicago-based Energize Capital, formerly Energize Ventures, just raised $300 million to help close the growth funding gap for climate startups. The growth capital will be spread across 12 startups over a three-year investment period, with around half expected to be from Energize's earlier-stage ventures portfolio, Tough said. Currently a team of around 20, Energize expects to keep growing and have five investors on its growth fund. Check out the 11-slide redacted pitch deck Energize used to raise the fund below:

Persons: generalists, John Tough, Energize, Caprock, Tough Organizations: Energize, Energize Ventures, Aurora, Bank Credit Suisse, Mercy Investment Services, Schneider Electric Locations: Chicago, Europe

☆ Putin is forming mysterious private armies across Russia to protect himself from Wagner soldiers, report says
▼ + stars: | 2023-07-31 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Russian President Vladimir Putin is forming private militias across Russia. The plans for the private military companies, or "special enterprises," were noted in a new bill that raises the draft age for the Russian military. It comes weeks after the mutiny by Russia's Wagner mercenary group, which exposed gaps in Putin's defenses. According to the report, Putin's militias would be under the command of regional governors, operate at Putin's behest, and would be armed by the Russian Ministry of Defense. "They are a tool to enhance security [important given very active clandestine actions by Ukrainian military intelligence], and can, as necessary, help against any new mutiny," said Sokov.

Persons: Vladimir Putin, Yevgeny Prigozhin, Wagner, Andrey Kartapolov, Russia's Wagner, Putin, Nikolai Sokov Organizations: Service, Daily Beast, Fighters, Kremlin, Russian Ministry of Defense, Barents Observer, Daily Locations: Russia, Russian, Wall, Silicon, Rostov, Moscow, Norwegian, Ukraine

Women’s World Cup 2023: Live scores, fixtures, results, tables and top scorersCNN —New Zealand picked up an unwanted record by becoming the first host nation knocked out at the Women’s World Cup group stages, after its 0-0 draw against Switzerland on Sunday. The tournament had started so well for the cohost when it shocked Norway 1-0 in the opening game, securing its first ever World Cup win. New Zealand players applaud fans after crashing out of the Women's World Cup. “I’m just happy that we made it to the World Cup and happy that we were able to get a result, get a win,” she told CNN Sport. “It felt like a home game, which doesn’t happen often especially in the World Cup,” she added.

Persons: Lars Baron, Victoria Esson, Ali Riley, Norway’s Sophie Román Haug, Caroline Graham Hansen, Guro Reiten, Alicia Barker, Rafaela Pontes, Philippines ’ Sarina Bolden, “ I’m, ”, it’s, Bolden Organizations: CNN —, Zealand, Switzerland, Norway, Football Ferns, Swiss, Dunedin, New Zealand, The Football Ferns, New, CNN Sport, Filipinas Locations: Philippines, New Zealand, Switzerland, Norway, New, Zealand, Norwegian, Eden

☆ Cruises are increasingly adopting the strategy of budget airlines: Get ready to pay more for all the extras.
▼ + stars: | 2023-07-30 | by ( Brittany Chang | ) www.businessinsider.com time to read: +9 min

Cruise lines are seemingly adopting the budget airline model: Charge a base fare and pile on extras. Newer cruise ships have "more opportunities to upsell" with restaurant and entertainment options. In fact, cruise lines have told their investors recently that passengers are embracing these add-on costs — and enhancing their bottom lines. "Cruise lines are creative to try to make you forget you actually bought some things nine months ago," Scholes said. Cruise lines are trying to cut costs at the same timeThe cost of drink packages have been increasing on some cruise lines.

Persons: Brittany Chang, Patrick Scholes, Guy, Scholes, Silversea, It's, it's, Josh Weinstein, Tynan Smith, Kara Wallace, Royal Organizations: Cruise, New, Truist Securities, Norwegian Cruise Line, MSC Cruises, Royal, Royal Caribbean Group, Royal Caribbean, Carnival Corp, Street Journal, UBS, Royal Caribbean's Locations: New York City, Norwegian, Royal Caribbean, Royal, Brittany

☆ 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.

Persons: We'll, that's, Stanley Black, Decker, Emerson, Bausch, Leggett, Platt, SIRI, Ares, COLM, PERI, Kraft Heinz, Phillips, Ferrari N.V, Johnson, Robinson, COOK, BUD, Kellogg, Papa, Pitney Bowes, Parker, Trimble, Ziff Davis, Nonfarm, Jim Cramer's, Jim Cramer, Jim, Apple Tim Cook, Kevin Dietsch Organizations: Nasdaq, Dow, Federal Reserve, Federal, ISM Manufacturing, Services PMI, Investors, Caterpillar, Devices, Starbucks, Natural Resources, AMD, Management, Emerson Electric and, Humana, Bausch Health, Apple, Microsoft, Resource Partners, AerCap Holdings, CNA Financial Corp, CNA, Apellis Pharmaceuticals, Bank, SJW, Hutchison China MediTech, Camtek Ltd, Silvercrest Asset Management, Loews Corp, Oxford Lane Capital Corp, Banco Santander, Silicom Ltd, SuperCom Ltd, Arista Networks, Avis Budget Group, Diamondback Energy, Lattice Semiconductor Corp, Republic Services, Yum China Holdings, Western Digital Corp, Power Systems, Tenet Healthcare Corp, Vornado Realty, BioMarin Pharmaceutical, PetMed, SBA Communications Corporation, Brixmor, Snack Foods Corp, Cushman & Wakefield, Sanmina Corporation, TFI, PMI, Cruise Line Holdings Ltd, Uber Technologies, Pfizer, Enterprise Products Partners, Merck, JetBlue Airways Corporation, Allegro MicroSystems, Altria, SunPower Corp, SiriusXM Holdings, Molson Coors Beverage, Marriott International, Toyota Motor Corp, BP, SYSCO Corp, Marathon Petroleum Corp, Ares Management, Equitrans Midstream Corporation, Game Technology, Illinois Tool, IDEXX Laboratories, Rockwell Automation, Packaging International Corp, Gartner, Zebra Technologies Corp, IQVIA Holdings, Oshkosh Corporation, Leidos Holdings, Eaton Corp, yte Corp, Lear Corp, Starbucks Corp, Devon Energy Corp, SolarEdge Technologies, Lumen Technologies, Virgin Galactic Holdings, Caesars Entertainment, VF Corp, Sciences Corp, Paycom, Vertex Pharmaceuticals, Suncor Energy, Holdings, Chesapeake Energy Corp, Boston Properties, American International Group, AIG, Allstate Corp, Aspen Technology, Electronic Arts, EA, Flowserve Corporation, Denny's, Corp, Prudential Financial, Store, Ternium S.A, Vimeo, Emerson, Lomb, CVS Health, Generac Holdings, Cameco Corp, Perion Network Ltd, Builders, Carlyle Group, Scorpio, Teva Pharmaceutical Industries, Ltd, Rithm Capital Corp, AeroSystems Holdings, Vertiv Holdings Co, Johnson Controls, CDW Corp, DuPont, Brands Holdings, Scotts Miracle, Gro, SMG, Brands, Allegheny Technologies, AmerisourceBergen Corporation, ABC, Real Estate Corporation, Adient plc, Editas, Garmin Ltd, WWE, Bunge Ltd, Criteo S.A, PayPal, QUALCOMM, Occidental Petroleum Corp, Apache Corp, Albemarle Corp, MGM Resorts International, MGM, Marathon Oil Corp, Joby Aviation, Industrial, CF Industries Holdings, Goodyear Tire &, Realty ome Corp, Metlife, Pacific Biosciences of, Rush Street Interactive, Zillow, JFrog Ltd, Herbalife Nutrition Ltd, Simon Property Group, McKesson Corp, Storage, Cerus Corporation, GXO Logistics, MAX Holdings, Health, Anheuser, Busch InBev, Warner Bros ., Cheniere Energy, ConocoPhillips, Hasbro, CIGNA Corp, Lantheus Holdings, Regeneron Pharmaceuticals, Fiverr International, Air Products & Chemicals, TopBuild Corp, EPAM Systems, Lightspeed Commerce, Aurinia Pharmaceuticals, Cummins, CMI, Slair Corporation, Starwood Property Trust, Vulcan, Alnylam Pharmaceuticals, New Energy Corp, Cedar Fair Entertainment, Intellia Therapeutics, Lending, Privia Health, Dickinson, Chimera Investment, CIM, Hyatt Hotels Corp, Lion Electric, LEV, Deluxe Corp, Murphy Oil Corp, PBF Energy, Papa John's, Targa Resources Corp, Wix.com Ltd, Apollo Global Management, LLC, Butterfly, Sempra Energy, Aptiv PLC, Brookfield Infrastructure Partners, Canada Goose Holdings, Hannifin Corporation, WESCO International, WCC, Arrow Electronics, Constellation Energy Group, Midstream Partners, Coinbase, Petroleo Brasileiro SA Petrobras, Gilead Sciences, Opendoor Technologies, Booking Holdings, Atlassian Corporation, International, Redfin Corporation, Motorola Solutions, Monster Beverage Corporation, Consolidated Edison, Rocket Companies, Apple Hospitality, Cirrus, Resources, Universal Display Corporation, Chesapeake Utilities Corp, Social, Defense, Security Solutions, Post Holdings, Tandem Diabetes Care, Nikola Corporation, Magna International, Dominion Energy, ACM Research, Frontier Communications, Brookfield Renewable Partners, inTEST Corporation, American Pipeline, TELUS International, XPO Logistics, Fluor Corp, Gray Television, Cboe, LyondellBasell Industries, Twist Bioscience, Global, Jim Cramer's Charitable, CNBC, Allen & Company Sun Valley, Getty Locations: U.S, China, India, Oxford, Chile, Illinois, Columbia, Pacific, Pacific Biosciences of California, Southern, PBI, Gilead, Sun Valley , Idaho

☆ Norway, Finland battle rapid spread of bird flu
▼ + stars: | 2023-07-28 | by ( Louise Rasmussen | ) www.reuters.com time to read: +2 min

[1/2] People wearing protective suits collect dead birds, as there is a major outbreak of bird flu, in Vadso municipality in Finnmark in Norway, July 20,2023. Oyvind Zahl Arntzen/NTB/via REUTERS/File PhotoCOPENHAGEN, July 28 (Reuters) - Norway and Finland face record outbreaks of bird flu this year which have killed thousands of seagulls and other species, put livestock at risk and restricted travel in some areas, officials said. Avian influenza, commonly called bird flu, has circulated throughout Europe in recent years, leading to a cull in May and June of millions of birds on French farms alone and affecting the supply of poultry meat and eggs. The H5N1 virus strain has spread among poultry and wild birds for years but there have been sporadic outbreaks reported globally in mammals such as cats, mink and otters. Neighbouring Finland also said wild birds were heavily affected and that the H5N1 strain has now been found in 20 fur farms, up from 12 earlier this week.

Persons: Oyvind Zahl, Ole, Herman Tronerud, Louise Breusch Rasmussen, Terje Solsvik, Toby Chopra Organizations: Norwegian Food Safety Authority, Norwegian Food, World Health, Thomson Locations: Vadso, Finnmark, Norway, COPENHAGEN, Finland, Europe, Norway's Finnmark, Norwegian

☆ July jobs report and more Big Tech earnings are in the week ahead after markets notch historic run for Dow
▼ + stars: | 2023-07-28 | by ( Sarah Min | ) www.cnbc.com time to read: +9 min

More Big Tech earnings and the jobs report are in the week ahead as investors wrap up a strong week that included a historic run for the Dow Jones Industrial Average . Jobs report out Friday Investors will digest the latest data from the July jobs report due out next Friday. "I don't expect any huge surprise from this jobs report next week," said Liz Young, head of investment strategy at SoFi. Earnings will continue to pour in next week, with key results from Big Tech companies Apple and Amazon on Thursday. Still, cooling inflation, strong jobs market and a resilient economy could spell a happy path for Wall Street.

Persons: Dow, Queen Victoria, Kim Forrest, Jerome Powell, Forrest, Nonfarm, Dow Jones, Liz Young, Bokeh's Forrest, they're, She'd, we've, SoFi's Young, Young, she'd, Stanley Black, Decker, The Kraft Heinz Organizations: Big Tech, Dow Jones, Dow, Cotton Oil, Bokeh Capital Partners, Meta, Federal Reserve, Pew Research, Apple, Semiconductor, Bank of Japan, Chicago PMI SA, Dallas Fed, Arista Networks, Western, Systems, PMI Manufacturing SA, ISM Manufacturing SA, Merck, Co, Caterpillar, Marriott International, Altria, Cruise Line Holdings, Pfizer, Marathon Petroleum, Molson Coors Beverage, SolarEdge Technologies, Devices, Caesars Entertainment, Electronic Arts, Starbucks, ADP Employment Survey SA, CVS Health, Fidelity National Information Services, Generac Holdings, Humana, The Kraft, Brands, MetLife, Marathon Oil, Occidental Petroleum, PayPal Holdings, Qualcomm, Etsy, Costco Wholesale, MGM Resorts, SA, PMI, Factory, PMI SA, News Corp, Constellation Energy, Moderna, Warner Bros, Discovery, Hasbro, ConocoPhillips, Kellogg, Booking Holdings, Expedia, Motorola Solutions, Monster Beverage, Manufacturing Payrolls SA, Nonfarm Payrolls SA, Dominion Energy Locations: United Kingdom, U.S

☆ Norwegian woman and Nepali guide set record for summit of 14 ‘super peaks’
▼ + stars: | 2023-07-27 | by ( Caolán Magee | ) edition.cnn.com time to read: +2 min

CNN —A Norwegian woman and a Nepali man smashed the record on Thursday for the fastest summit of all 14 of the world’s 8,000-metre (26,000-feet) mountains, their team said in a statement. The pair surpassed Nepal-born British adventurer Nirmal Purja’s record of six months and six days, set in 2019. Purja is now attempting to set the record for the fastest ascent of all 14 peaks without supplemental oxygen, he said on Twitter. Mount Everest, the tallest of the 14 highest peaks, issued permits for a record number of climbers this year, for this spring season’s expeditions. According to Nepali officials as the spring climbing season came to an end in June, 12 people died and five were missing on Everest.

Persons: Kristin Harila, Lama –, “, Nirmal Purja’s, Nirmal Purja, Mount Everest, Nirmal, ” Lama, Everest Organizations: CNN, Twitter Locations: Norwegian, Nepal, Purja, Mount

July 27 (Reuters) - Royal Caribbean Group (RCL.N) raised its full-year profit forecast on Thursday, betting on higher ticket prices and resilient demand for leisure travel from affluent customers, sending shares surging. Royal Caribbean's shares were up 8.1% at $109.01 in premarket trading as it also forecast third-quarter adjusted profit above estimates. The company expects an adjusted profit between $3.38 and $3.48 per share in the third quarter, compared with estimates of $2.89 per share. Royal Caribbean expects annual adjusted profit between $6.00 and $6.20 per share, compared with its earlier forecast of $4.40 to $4.80 per share. Shares of rival operators Carnival Corp and Norwegian Cruise Line Holdings rallied in tandem following Royal Caribbean's results, gaining 5.2% and 4.7%, respectively.

Persons: Caribbean's, Jason Liberty, Granth, Shounak Dasgupta Organizations: Royal Caribbean Group, Royal Caribbean, Carnival Corp, Cruise Line Holdings, Thomson Locations: Royal Caribbean, Bengaluru

☆ Norwegian woman, Nepali sherpa become world's fastest to climb all 14 tallest peaks
▼ + stars: | 2023-07-27 | by ( Gopal Sharma | ) www.reuters.com time to read: +2 min

“They have become the fastest to climb all 14 peaks,” Tashi, told Reuters, quoting information from the base camp. Climbing all 14 highest peaks in a few months is a challenging feat, which is normally done by many climbers in years. They set the fastest climbing record by beating Nirmal Purja from Nepal who completed all peaks in six months and one week in 2019. "They have made a summit a short while ago," Madison told Reuters adding that the Norwegian woman was "extremely tough mentally and physically". One of the sherpas, the 17-year-old Nima Rinjin Sherpa, also becomes the youngest to climb K2, Tashi said.

Persons: Kristin Harila, Nepal’s Tenjen, Tashi Lakpa Sherpa, Tashi, Nirmal Purja, Cho Oyu, Nanga Parbat, Gasherbrum, Garrett Madison, Madison, Nima Rinjin Sherpa, Gopal Sharma, Michael Perry Organizations: Seven, Guinness, Madison Mountaineering, Reuters, Thomson Locations: KATHMANDU, Norwegian, Pakistan, Kathmandu, “, Nepal, Tibet, China, Annapurna, U.S

Norwegian producer Norsk Hydro (NHY.OL) has called for the exchange to reconsider its decision last November to continue accepting deliveries of Russian metal. China imported 462,000 metric tons of Russian-brand primary aluminium last year, up from 291,000 metric tons in 2021. The country has emerged as the market of first resort for Russian metal since the invasion of Ukraine in February 2022. The top two destinations for June's "exports" were Japan (10,000 metric tons) and South Korea (20,500 metric tons). China's aluminium run-rate fell by an annualised 636,000 metric tons over the first quarter, according to the International Aluminium Institute.

Persons: Rusal, Goldman Sachs, ingot, isn't, Jane Merriman Organizations: London Metal Exchange, Norsk Hydro, Hydro, Rusal, International Aluminium Institute, AZ Global, Reuters, Thomson Locations: Norwegian, Russian, China, United States, Europe, Asia, Ukraine, Japan, South Korea, Gwangyang, CHINA, Yunnan

☆ Bill Miller, who once beat the market for 15 straight years, redefines value investing
▼ + stars: | 2023-07-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Bill Miller, the value investor known for once beating the market for 15 years in a row, is also well recognized as an early investor in bitcoin and Amazon . Miller made his name by running the Legg Mason Capital Management Value Trust, which beat the S & P 500 every year from 1991 to 2005. He left Legg Mason to found Miller Value Partners in 2012 after the fund suffered steep losses and an exodus of assets during the financial crisis. Samantha McLemore, Miller's longtime co-manager, will assume management of Miller Opportunity Trust through her firm Patient Capital. His eldest son, Bill Miller IV, will become the lead manager for the Miller Income Fund.

Persons: Bill Miller, Miller, Legg Mason, Jeff Bezos, MacKenzie Scott, bitcoin, who's, Samantha McLemore, Miller's, Bill Miller IV Organizations: Legg Mason Capital Management Value Trust, Miller Value Partners, Amazon, Opportunity Trust, Morningstar, Delta Air Lines, Cruise Line, Big Tech, Miller Opportunity Trust, Capital, Miller Income Fund Locations: bitcoin

☆ Oil giant Shell posts sharp drop in second-quarter profit on weaker commodity prices
▼ + stars: | 2023-07-27 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Picture Alliance | Picture Alliance | Getty Imageswatch nowShares of the London-listed oil major slipped 2% on Thursday morning. 'Softening oil and gas environment'French oil major TotalEnergies also reported weaker-than-expected earnings on Thursday, posting second-quarter adjusted net income of $5 billion. TotalEnergies CEO Patrick Pouyanne said the firm's "robust" earnings came during a "favorable but softening oil and gas environment." Norwegian oil and gas giant Equinor had on Wednesday reported a 57% decline in year-on-year second-quarter profit as oil and gas prices slipped from last year's high levels. Oil and gas prices were under pressure in the first half of the year, however, as global economic jitters outweighed supply-demand fundamentals.

Persons: downgrades, Stuart Lamont, Patrick Pouyanne Organizations: Getty, RBC Brewin, Shell, BP, Exxon Mobil, Chevron Locations: London, Ukraine, U.S

☆ Stocks making the biggest moves midday: Meta Platforms, Chipotle, Royal Caribbean and more
▼ + stars: | 2023-07-27 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

Meta Platforms reported earnings of $2.98 per share on $32 billion in revenue. Royal Caribbean , Norwegian Cruise Line — Shares of Royal Caribbean surged 8.7% after the cruise company beat expectations for the second quarter. Royal Caribbean reported $1.82 in adjusted earnings per share on $3.52 billion of revenue. The company reported $5.98 in adjusted earnings per share on $3.21 billion in revenue. The company reported $2.05 in adjusted earnings per share, below the StreetAccount consensus of $2.33 per share.

Persons: Chipotle, Refinitiv, Lam, L3Harris, Willis Towers Watson, Northrop Grumman, Northrop, Sunnova, Edwards, StreetAccount, —, Alex Harring, Hakyung Kim, Samantha Subin, Yun Li Organizations: Refinitiv, Cruise, Royal Caribbean, Lam Research, KLA Corp, —, L3Harris, Northrop Grumman, Northrop, Management, Energy, Honeywell, Honeywell International, Comcast —, Comcast, Southwest Airlines, eBay, Wall Street, CNBC Locations: Royal Caribbean, Refinitiv

☆ Cruise Stocks Surge, Airlines Fall After Earnings
▼ + stars: | 2023-07-27 | by ( ) www.wsj.com time to read: 1 min

One takeaway from this morning’s round of earnings: Demand for leisure travel is booming, but business travel is still shaky. Royal Caribbean stock jumped nearly 7% after the cruise operator reported second-quarter earnings of $1.82 per share, well above Wall Street expectations of $1.57. Southwest Airlines fell more than 8%, the worst performer in the S&P 500 and on pace for the stock's worst day since 2020. The airline said business travel demand hasn’t yet recovered to prepandemic levels. Delta, American and United shares also edged lower.

Organizations: Royal, Southwest Airlines, United Locations: Royal Caribbean, Norwegian

Deutsche Bank's emerging market carry strategy index had its best year on record in the 12 months to May. Reuters GraphicsOVERCROWDING FEARSInvestors, however, are becoming concerned the carry trade might be becoming too popular for its own good. "You have to be worried about some of these more crowded positions," said Stephen Gallo, European head of FX strategy at BMO Capital Markets. "I think that is big enough to offset any carry trade income," said Yujiro Goto, head of FX strategy for Japan at Nomura. A hypothetical $50,000 invested in a short Norwegian crown, long dollar carry trade in the first three weeks of July would have lost $3,000, according to Refinitiv.

Persons: Refinitiv, Kamakshya Trivedi, Goldman Sachs, Stephen Gallo, Gallo, James Athey, Yujiro Goto, Oliver Brennan, Brennan, Robin Winkler, Goldman's Trivedi, Geoff Yu, BNY Mellon, Harry Robertson, Alun John, Ankur, Rae Wee, Bernadette Baum Organizations: LONDON, Bank of America, FX, Deutsche, Federal Reserve, European Central Bank and Bank of Japan, BMO Capital Markets, Nomura, BNP Paribas, Bank of England, Bank of Japan, Reuters Graphics, Federal, Deutsche Bank, Swiss, Reuters, Korean, BNY, Thomson Locations: SINGAPORE, Japan, European, U.S, America, Asia, London, Singapore

☆ Dollar’s decline throws spotlight on battered commodity currencies
▼ + stars: | 2023-07-26 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

While that's driven rallies in risk assets such as stocks, raw materials prices and some commodity currencies have been slower to respond. Reuters GraphicsThe bullish view on commodity currencies gained traction in recent days after leaders in China - the world’s leading commodity consumer - on Monday pledged to step up policy support for the economy. Prices for oil, copper and other raw materials rose on the news, while commodity currencies such as the Australian and New Zealand dollars edged up. Some other commodity currencies have seen similar declines, with the New Zealand dollar down 2% and the South African rand down 3%. Commodity currencies are far from the only way to play further dollar weakness.

Persons: there's, Francesco Pesole, Brent, Thanos Bardas, Neuberger Berman, Bardas, Bipan Rai, Jane Foley, Saqib Iqbal Ahmed, Ira Iosebashvili, Leslie Adler Organizations: YORK, Reserve, ING Bank, Australian, Reuters, New, U.S, New Zealand, Deutsche Bank, International Monetary Fund, Bank of Japan, U.S ., CIBC, Rabobank, Thomson Locations: Norway, Australia, U.S, Norwegian, China, North America, Sweden

The new aid package, which was first reported by Reuters, will include for the first time U.S. furnished Black Hornet surveillance drones made by Teledyne FLIR Defense, part of Teledyne Technologies (TDY.N). The Norwegian-built Hornet is being used in Ukraine through donations by the British and Norwegian governments, the company said. More than $43 billion in U.S. military aid has been provided since Russia's invasion in 2022. Commenting on the aid announcement, Secretary of State Antony Blinken noted Russia's attacks on Ukraine ports and Ukrainian infrastructure since withdrawing from the Black Sea Grain Initiative last week. The Black Sea grain deal was brokered by the United Nations and Turkey a year ago to combat a global food crisis worsened by Russia's invasion.

Persons: Russia grinds, Antony Blinken, Blinken, Mike Stone, Patricia Zengerle, Ismail Shakil, Katharine Jackson, Matthew Lewis, Grant McCool Organizations: U.S . Department of Defense, Ukraine, Reuters, Teledyne FLIR Defense, Teledyne Technologies, British, Systems, U.S . Army, Patriot, Air Missile Systems, High Mobility Artillery Rocket Systems, Stryker, Carriers, Authority, United, European Union, Thomson Locations: Russia, Norwegian, Ukraine, United States, United Nations, Turkey, Britain, Washington, Ottawa

☆ Bank of America says Europe's oil majors ‘are close to bottoming out' — and names its top pick ahead of earnings
▼ + stars: | 2023-07-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Bank of America believes Europe's oil majors are about to hit an inflection point. This trend reflects investor anticipation for a long-awaited turn in earnings momentum, according to analysts at Bank of America. It named Shell as its "Big Oil top pick." The below table shows European Big Oil companies, the earnings release dates, and Bank of America's 12-month price target and upside potential. Shell As its top pick, Bank of America expects Shell to report strong second-quarter earnings and cash flows.

Persons: Christopher Kuplent, Shell, BofA, TotalEnergies Organizations: of America, Big, Bank of America, Shell, Oil, Big Oil, Bank of America's, BP, outflows, TotalEnergies Bank of America Locations: London , New York, Amsterdam, London, New York, Paris, Norwegian, Oslo

☆ Norway government ministries hit by cyber attack
▼ + stars: | 2023-07-24 | by ( ) www.reuters.com time to read: +1 min

OSLO, July 24 (Reuters) - Twelve Norwegian government ministries have been hit by a cyber attack, the Norwegian government said on Monday, the latest attack to hit the public sector of Europe's largest gas supplier and NATO's northernmost member. That weakness has now been shut," Erik Hope, head of the government agency in charge of providing services to ministries, told a news conference. The attack was identified due to "unusual" traffic on the supplier's platform, Hope said, declining to provide specifics. Norway is Europe's largest gas supplier after a drop in Russian gas flows and Western Europe's largest oil exporter. Norway's state sector has been hit by cyber attacks previously, including in June 2022, when a so-called distributed denial-of-service (DDoS) attack took place, blamed on a "criminal pro-Russian group".

Persons: Erik Hope, Hope, Gwladys Fouche, Louise Rasmussen, Terje Solsvik Organizations: NATO, Thomson Locations: OSLO, Norwegian, Norway, Norway's, Russia, Ukraine

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