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☆ This life-sciences leader continues to demonstrate a nimble M&A strategy
▼ + stars: | 2023-08-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Equities rise Watch Danaher's portfolio A flurry of trades 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. 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, Jerome Powell's, Danaher, Estee Lauder, Walt Disney, Jim Cramer's, Jim Organizations: CNBC, Federal, Treasury, West Texas, Micro Devices, Broadcom, GE HealthCare Technologies, Starbucks, Jim Cramer's Charitable Locations: Jackson Hole , Wyoming, Danaher

☆ China's Sinopec's interim profit down 20.1% on lower oil prices
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +2 min

Chinese refiners overall benefited from cheap crude oil supplies from Iran, Venezuela and Russia, as Western sanctions forced those producers to sell oil at deep discounts to keep revenue flowing. Although state majors have shied away from Iranian and Venezuelan oil, Sinopec has been taking in Russian supplies, traders have said. Sinopec produced 139.68 million barrels of crude oil during the six months, up 0.02% year on year, while its natural gas output gained 7.6% to 660.88 billion cubic feet. Capital expenditure for the half-year came in at 74.67 billion yuan, versus 64.65 billion yuan a year earlier. Its Hong Kong-listed shares have risen 14.4% year-to-date, outperforming Hang Seng Index (.HSI) which has fallen 10.9% during the period.

Persons: Chris Helgren, Sinopec, Chen Aizhu, Judy Hua, Robert Birsel Organizations: China Petroleum & Chemical Corporation, REUTERS, Rights, China Petroleum & Chemical, Sinopec Corp, Thomson Locations: Vancouver , British Columbia, Canada, Iran, Venezuela, Russia, Sichuan, Hong Kong

☆ Vivek Ramaswamy, an 'anti-woke' biotech millionaire and former Harvard rapper running against Trump, is outperforming expectations in the 2024 GOP race
▼ + stars: | 2023-08-24 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +1 min

Vivek Ramaswamy announced his candidacy for the 2024 GOP presidential nomination in February 2023. The biotech entrepreneur, who is the son of Indian immigrants, was Harvard and Yale-educated. He became a conservative firebrand after writing anti-woke books and regularly appearing on Fox News. Though his campaign is picking up a little steam, he's still a longshot for the GOP nomination. But the conservative firebrand says he has big plans to start a "cultural movement."

Persons: Vivek Ramaswamy, Donald Trump, Nikki Haley, Ramaswamy Organizations: Harvard, Yale, Fox News, Service, South Carolina Gov, Republican, GOP, firebrand Locations: Wall, Silicon, India

☆ Bounce in European property stocks: false start or turning point?
▼ + stars: | 2023-08-24 | by ( Danilo Masoni | ) www.reuters.com time to read: +5 min

MILAN, Aug 24 (Reuters) - It's hard to be bullish about real estate in an environment of sharply higher interest rates. Two years of steep falls have made European property a short-seller favourite as sector valuations and investor positioning plunged to levels last seen during the 2008 global financial crisis. A gauge of European real estate shares (.SX86P) has halved in value to about $131 billion since 2021, but the mood shifted in July as earnings expectations improved. "Things aren't great for real estate companies and that's why they are trading at a huge discount. Meanwhile, BlackRock's iShares European Property ETF (IPRP.L) has seen a 10% surge in inflows from late February, according to data on its website.

Persons: Gerry Fowler, Zsolt Kohalmi, BlackRock's, Natixis, Banks, Charles de Boissezon, Kohalmi, UBS's Fowler, Danilo Masoni, Sinead Cruise, Elaine Hardcastle Organizations: MILAN, European Equity, UBS, European Central Bank, Pictet, Advisors, P Global Market Intelligence, Property, Bank of, Societe Generale, Equity, Thomson Locations: Europe, London, U.S

☆ Goldman’s list of hedge fund favorite stocks is beating the market. Here’s what’s in it
▼ + stars: | 2023-08-24 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

A group of hedge funds' favorite stocks trounced the broader market, thanks to the strength of mega-cap tech, according to Goldman Sachs. It then compiled a basket of the most popular long positions, dubbed Goldman's Hedge Fund VIP basket, comprising 50 stocks that most frequently appear among the largest 10 holdings of hedge funds. The VIP basket has returned 22% this year as of mid-August, outperforming the S & P 500 , which was up 15% during the same period. The largest tech stocks — Amazon , Microsoft , Google parent Alphabet and Meta Platforms — remain the most popular hedge fund long positions at the end of June. Big artificial intelligence winner Nvidia was the fifth-most popular stock among hedge funds.

Persons: Goldman Sachs, Goldman, Uber, — CNBC's Michael Bloom Organizations: Microsoft, Google, Nvidia, Activision, Apple, Horizon Therapeutics, Visa

☆ This Club mega cap tech stock is the most over-owned, according to Morgan Stanley. Here's why
▼ + stars: | 2023-08-23 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Apple (AAPL) became the most under-owned mega cap technology stock at the end of the second quarter, according to a Morgan Stanley research note published Wednesday. That positions the stock for further upside, making us even more optimistic on this essential "own it, don't trade it" Club stock. Behind Apple, the Morgan Stanley report showed, the other most under-owned stocks were Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN) and Google (GOOGL). Ultimately, analysts at Morgan Stanley argued, "on average, stocks appear to experience a technical pull higher when active ownership is much lower than the market, and vice versa." That, Morgan Stanley analysts said, resulted in the spread between Apple's S & P 500 weighting and active ownership widening by 91 basis points sequentially, to 2.21%.

Persons: Morgan Stanley, Apple, Apple's, Morgan Stanley's, Jim Cramer, Jim, Jim Cramer's, Justin Tallis Organizations: Apple, Microsoft, Nvidia, Google, Oracle, Meta, CNBC, Facebook, Getty Locations: Apple's, India, EU

☆ Global stock market correction likely before year-end: Reuters poll
▼ + stars: | 2023-08-23 | by ( Hari Kishan | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummary poll dataReuters poll graphic on global stock market outlookBENGALURU, Aug 23 (Reuters) - Global stock markets are heading for a correction in coming months, though overall they should post marginal gains between now and the end of 2023, according to a majority of analysts polled by Reuters. A bad year for stocks in 2022 carried into this year as global central banks battled inflation with interest rate rises that are now largely drawing to an end. A 71% majority of analysts, 55 of 77, who answered an additional question in the Aug. 9-23 poll said a correction by year-end in their local equity market was either likely or very likely. A "fear of missing out" is said to have helped drive much of the equity market rallies of recent years. The year-end forecast in February's Reuters poll was 4,200.

Persons: Brendan McDermid, Jerome Powell, Marko Kolanovic, Morgan, Terry Sandven, Europe's, Hari Kishan, Indradip Ghosh, Ross Finley, John Stonestreet Organizations: New York Stock Exchange, REUTERS, Reuters, Treasury, NIKKEI, February's Reuters, U.S, Bank Wealth Management, Japan's Nikkei, IPC, Thomson Locations: New York City, U.S, BENGALURU, Jackson, February's, Bengaluru, Buenos Aires, London, Mexico City, Milan, New York, San Francisco, Sao Paulo, Tokyo, Toronto

☆ Stocks, yields rise as traders balance China, oil supply
▼ + stars: | 2023-08-21 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +4 min

While disappointment sent Asian shares lower, European shares rose on Monday and U.S. stock futures also pointed to a recovery there. ,Europe's STOXX 600 (.STOXX) index was up 0.7% by 1207 GMT, following last week's 2.3% drop, with energy companies outperforming as oil prices rose with tightening supply from Saudi Arabia offsetting demand concerns. Oil prices rose as much as $1 after snapping a seven-week winning streak last week on concerns about Chinese demand. Bond yields move inversely with prices. The ascent of the dollar and yields was weighing on gold at $1,894 an ounce , after it touched a five-month low last week.

Persons: Fed's Jackson, Susannah Streeter, Hargreaves Lansdown, Europe's, Brent, Jerome, Powell, Seema Shah, Jackson, Nvidia, Yoruk Bahceli, Wayne Cole, Dhara Ranasinghe, David Evans, Mark Potter Organizations: REUTERS, Staff, Treasury, Hargreaves, Global, U.S . Federal, U.S ., Thomson Locations: Frankfurt, Germany, China, Saudi Arabia, U.S ., Atlanta

☆ Goldman Sachs: Here are the 20 options trades to make now using an investing strategy that has outperformed the market for the last 27 years
▼ + stars: | 2023-08-17 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Goldman Sachs created an options investing strategy that has outperformed the S&P 500 for 27 years. Analysts at Goldman Sachs break down the 20 stocks that investors can use this strategy with now. Market-beating options trading strategyIn essence, this profitable options strategy boils down to one simple concept: overwriting. "Over the past 27 years, buy-write strategies have outperformed the total return of the S&P 500 on a risk-adjusted basis," Marshall wrote. So, Marshall screened for stocks in the top two-thirds of Goldman Sachs' stock coverage universe, as well as stocks with implied volatility in the top two-thirds.

Persons: Goldman Sachs, John Marshall, Marshall, Sharpe, outperforming Organizations: Goldman

☆ This stock buyback ETF is beating the S&P 500 this summer. Here's how it works
▼ + stars: | 2023-08-16 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

The Invesco BuyBack Achievers ETF (PKW) has risen 10.7% over the past three months, accounting for more than 100% of its gains for the year. The SPDR S & P 500 ETF Trust (SPY), by comparison, is up 7.6% over the past three months. PKW 3M mountain The Invesco BuyBack Achievers ETF is outperforming the S & P 500 over the past three months. Over the past decade, the Invesco fund has an average annual total return of 10.8%. That is below the returns for the broad S & P 500 but better than that of the iShares S & P 500 Value ETF (IVE) and SPDR Portfolio S & P 500 Value ETF (SPYV) .

Persons: Nick Kalivas, Kalivas, Morgan Stanley Organizations: Trust, Nasdaq, Comcast, ConocoPhillips, Pacer U.S, Cash, CNBC Locations: U.S

☆ Cash-rich stocks to buy: Bank of America details how 7 small and mid-sized companies are increasingly rewarding their shareholders right now
▼ + stars: | 2023-08-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

Small and mid-cap stocks are providing cash-flow opportunities, according to Bank of America. If you're looking for cash in the form of buybacks and dividends, small and mid-cap stocks may be a good bet, according to a Bank of America note from August 14. Earlier this year, the bank warned investors to remain discerning when it comes to buying in small-cap stocks. When an economy is on the mend, small-cap value stocks tend to rally ahead, leading the recovery by outperforming their larger counterparts over multiple years, according to David Wagner, portfolio manager for the SmallCap Value Fund at T. Rowe Price (PRSVX). Earlier in August, Bank of America held a virtual conference with executives from 20 small and mid-cap companies.

Persons: David Wagner, Rowe Price, Jill Carey Hall Organizations: Bank of America, Bank, America

☆ Stephen Mandel's Lone Pine Capital reveals new stakes in Nvidia and Live Nation
▼ + stars: | 2023-08-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Hedge fund Lone Pine Capital built large bets on two high-performing stocks during the second quarter, a new U.S. Securities and Exchange Commission filing shows. Shares of Live Nation are up more than 23% year to date, outperforming the S & P 500. The new additions came as Lone Pine trimmed many of its top holdings, including Workday and Amazon . Lone Pine added to its positions in Microsoft , Amazon and Taiwan Semiconductor in the fourth quarter of last year, just before the tech sector took off. The quarterly hedge fund filings do not show trading data that would reveal when Lone Pine sold or bought shares of any individual stock.

Persons: Lone Pine, Stephen Mandel, Verity, Mandel, Julian Robertson Organizations: Lone Pine Capital, . Securities, Exchange Commission, Entertainment, Nvidia, Booking Holdings, Mastercard, Devices, Tiger Management, Microsoft, Amazon, Taiwan Semiconductor, Lone Locations: Lone

A general view of the facade of Banco de la Nacion Argentina (Bank of the Argentine Nation), in Buenos Aires, Argentina December 7, 2021. The official FX rate will be fixed at 350 pesos per dollar until the October elections, the central bank said. The country's sovereign dollar bonds fell as much as 2 cents on the dollar, with the 2038 note leading the slide, according to MarketAxess data. Latin America's third-largest economy has been grappling with a severe economic crisis with sky-high inflation and falling central bank reserves. A candidate needs 45% of the Oct. 22 vote to win outright or 40% and a 10-point lead over second place.

Persons: Agustin Marcarian, Javier Milei, William Jackson, overvalued, Sunday's, Goldman Sachs, Patricia Bullrich, Sergio Massa, Ricardo Delgado, Eliana Raszewski, Rodrigo Campos, Jorge Otaola, Medha Singh, Adam Jourdan, Bernadette Baum, John Stonestreet, Andrew Cawthorne Organizations: de la Nacion Argentina, Bank of, Argentine, REUTERS, LONDON, Capital Economics, Investment, JPMorgan, Gross, Milei, Peronist, Economy, Analytica, Reuters Graphics Reuters, International Monetary Fund, IMF, Qatar, Thomson Locations: Buenos Aires, Argentina, Agustin Marcarian BUENOS AIRES, MERV, Argentine, refinance, Washington, Rosario

☆ This Spanish bank has ripped more than 30% higher this year. BofA sees even more gains ahead
▼ + stars: | 2023-08-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The Spanish lender's U.S.-listed shares are up 32% in 2023, on pace for their biggest annual gain since 2009 — when they rallied 73%. SAN YTD mountain SAN in 2023 Bank of America thinks the 166-year-old bank can build on its strong 2023 performance, saying it trades at a low relative valuation. Reale has a price target of $5.09 per share on Santander's U.S.-listed shares. Last month, Santander reported second-quarter net income and revenue that exceeded analyst expectations. On top of that, Reale said Santander has "de-risked its book, shifting its mix from subprime to prime clients.

Persons: Wells, Goldman Sachs, Antonio Reale, …, Reale, America's Reale, Michael Bloom Organizations: Banco Santander, JPMorgan Chase, Citigroup, Bank of America, Santander, of America, U.S, America's Locations: Spanish, U.S, Wells Fargo, Santander, Europe, Spain, Brazil

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Home Depot, Disney, Ulta, Nio, Penn & more
▼ + stars: | 2023-08-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

TD Cowen reiterates Home Depot as outperform TD said the stock is best-in-class heading into earnings next week. " Deutsche Bank names Walmart and Ulta as top picks Deutsche said it sees upside to estimates for Walmart due to GLP-1 obesity drugs. Citi downgrades Petrobras to neutral from buy Citi downgraded the Brazilian petroleum company mainly due to political risks. " Bank of America reiterates Disney as buy Bank of America said it's standing by its buy rating on the stock after Wednesday's earnings and that its valuation is attractive. Bank of America reiterates Tesla as neutral Bank of America said it's standing by its neutral rating on the stock as cutting prices is keeping margins under pressure. "

Persons: Morgan Stanley, TD Cowen, Ulta, Oppenheimer, Freshpet, Jefferies, GPN, Penn, Truist, PENN, Goldman Sachs, Goldman, Davidson, Nio, NIO, Tesla, TSLA Organizations: Nvidia, NVIDIA, Deutsche Bank, Walmart, Deutsche, Citi, Petrobras, Bank of America, Disney, DIS, Jefferies, ESPN, Networks, Holdings, DA, of America Locations: Palo Alto

☆ European stocks outperform as Italy soothes bank tax nerves
▼ + stars: | 2023-08-09 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/2] Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. MSCI's broad index of global shares (.MIWD00000PUS) was 0.2% higher in European afternoon trade. Europe's regional Stoxx 600 (.STOXX) share index rose 0.9%, with bank stocks (.SX7P) around 1.6% higher. Italy's FTSE MIB share index gained 1.8%. "The burden-sharing of the costs and benefits from higher rates has a habit of becoming a political issue," Deutsche Bank strategist Jim Reid said.

Persons: Toby Melville, Jim Reid, China's, Naomi Rovnick, Stella Qiu, Sydney, Ellen Zhang, Christina Fincher, David Evans Organizations: London Stock Exchange, REUTERS, China CPI, Wall Street, Deutsche Bank, Federal Reserve, Nasdaq, Moody's, U.S . National Federation of Independent, Wednesday, U.S . Treasury, BCA, Reserve, Brent, U.S . West Texas, Thomson Locations: Canary Wharf, London, Britain, China, Italy, Thursday's U.S, U.S, Saudi Arabia, Beijing

☆ Outperforming analysts reveal 2 new oil and gas stock picks — with one expected to rise by 35%
▼ + stars: | 2023-08-09 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Analysts at RBC Capital Markets have revealed two new top stock picks in the oil and gas sector. The bank's energy and utilities equity team is behind a basket of stock picks called the Global Energy Best Ideas List. RBC said the basket rose 7.8% in July, compared to a 6.2% rise in the iShares S & P Global Energy ETF . ALA-CA YTD mountain Callon RBC analysts also favor Callon Petroleum . As well as adding the above two stocks to their Best Ideas List, RBC analysts removed several others this month.

Persons: Vern Yu, Yu, Vern Yu's Organizations: RBC Capital Markets, Global, RBC, P Global Energy, ALA, Callon Petroleum, Shell PLC, California Resources Corp Locations: Canada, United States, Enbridge, North America

☆ Home improvement retailers downgraded by research firm Telsey, citing end of post-Covid boom
▼ + stars: | 2023-08-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

He maintained his price target for Home Depot Shares at $315 , which implies 4.3% downside from Monday's close. He also kept his price target on Lowe's shares at $225, suggesting less than 1% upside from where shares last closed. He noted that Home Depot and Lowe's shares are up approximately 17% and 12% since May 2023, respectively. While the housing market does show signs of reaching some stability, the bottoming phase could still take some time, according to Feldman. Meanwhile, Lowe's shares also declined 1.4% Tuesday before the bell.

Persons: Joseph Feldman, Feldman, — CNBC's Michael Bloom Organizations: Home, Home Depot

☆ Here are Credit Suisse's top picks for August, including healthcare and tech stocks
▼ + stars: | 2023-08-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Credit Suisse refreshed its "top of the crop" stock picks for August, betting on some big-name stocks as investors continue to feed the markets with optimism. Credit Suisse recently highlighted several stocks the bank's analysts think can outperform this month. "It is increasingly clear that greater service levels in the form of faster delivery is leading to consumers assigning a higher value to Prime" memberships, Credit Suisse said. Credit Suisse also named electronics manufacturer Flex Ltd. as a top pick. Credit Suisse assigned a $126 price target on Merck, which implies 20% appreciation from Friday's closing price.

Persons: Stocks, Stephen Ju, Amazon's, Ju, Shannon Cross, Flex, Cross, Trung Huynh, Merck, — CNBC's Michael Bloom Organizations: Suisse, Credit Suisse, Amazon, Flex, Merck, Prometheus Biosciences

☆ This beauty company is the most oversold S&P 500 stock
▼ + stars: | 2023-08-05 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

But Wall Street sees a rally in Ulta's future, with the average price target suggesting 23% upside for the stock over the next year, according to FactSet. Slightly less than half of analysts rate the stock a buy. Health-care stock HCA is favored more, with about two-thirds of analysts recommending it as a buy. Nearly seven out of every 10 analysts rate the stock a buy, with an average price target implying shares could rise nearly 9%, according to FactSet. The consensus price target among analysts has IBM gaining less than 1% over the next year, while Packaging Corp. could tumble nearly 8%.

Persons: Ulta Organizations: Health, HCA, Marathon Petroleum, Marathon, IBM, Packaging Corporation of America, Packaging Corp, Packaging Corporation Locations: Ulta's

☆ Oil prices are up 20% and energy stocks are rebounding
▼ + stars: | 2023-08-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

New York CNN —Energy stocks are making a comeback after being left for dead earlier this year. Energy stocks faltered in the beginning of the year, defying investors’ expectations for last year’s boom to accelerate on a lack of global supply. That drop in energy stocks came despite OPEC+ producers, the cartel of oil producing countries plus Russia, announcing several output cuts in a bid to bump up crude prices. US WTI crude oil prices have gained 22% since June 11, while global benchmark Brent is up by 19%. Jobs report will likely be strongMarkets and economists are expecting another solid jobs report on Friday, reports my colleague Alicia Wallace.

Persons: That’s, what’s, ”, Rebecca Babin, Chevron, Derek Amey, Jobs, Alicia Wallace, Daniel Zhao, Refinitiv, Read, Here’s what’s, Danielle Wiener, Bronner, We’ve, ” Read Organizations: CNN Business, Bell, New York CNN — Energy, Energy, OPEC, Brent, Federal Reserve, CIBC Private Wealth, titans, Shell, Reuters, Glassdoor, USA Rice Federation Locations: New York, Russia, Saudi Arabia, China

☆ Money market funds are paying above 5%. What to know before ditching your savings account
▼ + stars: | 2023-08-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Money market funds — which are different than money market deposit accounts — are a type of mutual fund that typically invests in shorter-term, lower-credit-risk debt, such as Treasury bills. Currently, some money market mutual funds are outperforming assets such as high-yield savings accounts or newly purchased Series I bonds. Money market funds have less liquidity than savingsChristopher Lyman, a certified financial planner with Allied Financial Advisors in Newtown, Pennsylvania, said he's still proposing money market mutual funds for certain clients, with the caveat of higher risks or more stipulations for accessing the money. What's more, the U.S. Securities and Exchange Commission recently adopted "liquidity fees" for certain money market funds for withdrawals when daily outflows exceed 5% of the fund's value. Money market funds aren't risk freeWhile money market funds typically invest in lower-risk assets, experts say it's important to know the funds aren't risk free.

Persons: dowell, Christopher Lyman, he's, Lyman, Randy Bruns, Bruns Organizations: Federal Reserve, Data, Investment Company Institute, Financial Advisors, U.S . Securities, Exchange Commission, Fund, Federal Deposit Insurance Corporation Locations: Newtown , Pennsylvania, it's, Naperville , Illinois

☆ Volvo Cars sales up 21% year-on-year in July
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +1 min

An employee at a Volvo car dealer, wearing a protective mask is seen in the showroom, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman/File PhotoOSLO, Aug 3 (Reuters) - Sweden's Volvo Cars (VOLCARb.ST) on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company's 11th consecutive month of year-over-year growth. In the first seven months of 2023, Volvo sold 395,856 cars globally, a rise of 18% compared with the same period of 2022, led by soaring demand for fully-electric or plug-in-hybrid models. The manufacturer, which is majority-owned by China's Geely (0175.HK), said it sold 64,764 fully-electric cars year-to-date, up from 23,803 in the year-ago period. Shares in the company were up 0.4% at 0714 GMT, outperforming a 0.5% drop in Stockholm's benchmark index (.OMXS30).

Persons: Yves Herman, China's Geely, Terje Solsvik, Gwladys Organizations: Volvo, REUTERS, HK, Thomson Locations: Brussels, Belgium, OSLO

☆ Etsy shares plunge 12% on weak guidance
▼ + stars: | 2023-08-03 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Etsy shares slid more than 12% on Thursday afternoon, a day after the company reported better-than-expected second-quarter results but gave weak guidance for third-quarter revenue and gross merchandise sales, or GMS. Here's how the company did:Earnings : 45 cents per share, adjusted, vs. 43 cents per share, as expected by analysts, according to Refinitiv. : 45 cents per share, adjusted, vs. 43 cents per share, as expected by analysts, according to Refinitiv. Revenue: $629 million vs. $619 million as expected by analysts, according to Refinitiv. At the midpoint, it fell short of the $3.04 billion expected by a survey of Refinitiv analysts.

Persons: Etsy, Rachel Glaser, Josh Silverman, Silverman Organizations: Refinitiv, GMS, Services Locations: Refinitiv, Etsy, Silicon

☆ ‘Zelda’ sales breakout juices Nintendo’s aging Switch
▼ + stars: | 2023-08-03 | by ( ) edition.cnn.com time to read: +2 min

Tokyo CNN —Japan’s Nintendo on Thursday said it sold 3.91 million units of its Switch console in the April-June quarter, exceeding sales in the same period a year earlier, boosted by the runaway success of its latest “Zelda” title. Nintendo (NTDOF) said it sold 18.51 million units of “Tears of the Kingdom” in the first quarter. The Kyoto-based gaming firm maintained its full-year forecast for the console of 15 million units. It sold 17.97 million units in the previous financial year. Nintendo’s shares have delivered a more than three-fold return, including dividends, since the Switch went on sale in major markets in March 2017, outperforming the benchmark Nikkei’s 91% return over the same period.

Persons: Zelda, Mario, ”, Serkan Toto, Pikachu Organizations: Tokyo CNN —, Nintendo, Mario Bros, Kantan Locations: Kyoto

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