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☆ Berkshire Hathaway shares are cheap after a pullback from record high, CFRA says
▼ + stars: | 2023-11-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Berkshire Hathaway 's shares are trading at a significant discount, offering investors a buying opportunity ahead of the conglomerate's earnings report, according CFRA. The current trading level is "offering investors an attractive entry point to acquire the shares," Seifert said in a note. BRK.B YTD mountain Berkshire Hathaway The Omaha-based conglomerate's class A shares have rallied 11.7% this year. Warren Buffett 's Berkshire is set to report its third-quarter earnings Saturday morning. "CFRA believes Berkshire's diversified revenue and earnings mix is positive for the shares, and following a recent pullback, we view BRK.B undervalued versus historical averages," CFRA said.

Persons: Berkshire Hathaway, Catherine Seifert, Seifert, Warren Buffett, CFRA Organizations: CFRA's, Berkshire Hathaway Locations: Berkshire, CFRA's Berkshire, Berkshire Hathaway The Omaha

☆ Steve Eisman on one thing he has learned in his career and why it’s keeping him away from banks
▼ + stars: | 2023-11-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Steve Eisman of the "The Big Short" fame said Thursday that one investment mantra he swears by is telling him that buying beaten-up bank stocks won't be fruitful. "One thing I've learned in my career over the years is that buying something just because it's cheap is a value trap and shorting something because it's very expensive is a death wish," Eisman said on CNBC's " Squawk Box ." Uncertainty caused by the collapse of Silicon Valley Bank earlier this year triggered outflows at other regional banks as well as larger institutions, he said. KRE YTD mountain SPDR S & P Regional Banking ETF The SPDR S & P Regional Banking ETF , which tracks 140 regional banks, has fallen about 30% this year. Apart from banks, Eisman said companies selling high-priced real estate, cars and solar panels could be under pressure as lofty interest rates could keep consumers from borrowing.

Persons: Steve Eisman, I've, Eisman, Michael Lewis, Oscar, Neuberger Berman Organizations: Regulators, Regional Banking, Regional Banking ETF Locations: Silicon

☆ Stanley Druckenmiller says government needs to stop spending like 'drunken sailors,' cut entitlements
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"We are spending like drunken sailors," Druckenmiller said on CNBC's "Squawk Box" Wednesday. Now it's 25% of GDP ... My father told me if you're in a hole, stop digging Stan." Despite his calls to cut overall spending, the widely followed investor stressed that it's necessary for the U.S. to support Ukraine and disagrees with Republicans urging to stop funding in that region. "I was actually happy to see when the announcement the support for Ukraine and Israel $106 billion," Druckenmiller said. Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992.

Persons: Stanley Druckenmiller, Druckenmiller, Stan, Putin, George Soros Organizations: Social, Duquesne Family Office, Social Security, Quantum Fund, Duquesne Capital Management Locations: Duquesne, Israel, Ukraine

☆ The winning trading method pros use — where the Fed and the economy don't matter
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Merger Arbitrage hedge funds gained 4.4% in the third quarter, standing out as the best-performing strategy for the period, beating every category in event-driven, equity, macro and value funds, according to Hedge Fund Research . "The merger arbitrage strategy has historically thrived in a rising interest rate environment when an investor's fixed income portfolio may have suffered losses," said Michael Peck, co-chief investment officer at First Trust. As the proposed deal nears completion, the target's stock typically rises and the acquirer's shares fall. This short-term trading strategy often utilized by fast-money hedge funds typically involves multiple long and short positions, and might be too sophisticated for the average individual investor. The First Trust Merger Arbitrage ETF (MARB) and the IQ Merger Arbitrage ETF (MNA) are two popular ones that capitalize on the technique.

Persons: Bill Gross, Pimco, Michael Peck, Michael Kors, Jimmy Choo, there's, Gross, Broadcom's, Warren Buffett Organizations: Fund Research, First Trust, Gross, Activision Blizzard, Microsoft, Capri Holdings, Capri, VMware, Broadcom, Activision

☆ DoubleLine’s Gundlach says interest rates are going to fall as recession arrives early 2024
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach believes interest rates are about to trend lower as the economy deteriorates further and tips into a recession next year. "I do think rates are going to fall as we move into a recession in the first part of next year," Gundlach said Wednesday on CNBC's "Closing Bell." The Federal Reserve's rate-setting committee unanimously agreed Wednesday to hold the key federal funds rate in a target range between 5.25% to 5.5%, where it has been since July. "One thing that the market is going to have to confront is we cannot sustain these interest rates and this deficit any longer," Gundlach said. "We can't afford this government that we're running at today's interest rate level.

Persons: Jeffrey Gundlach, Gundlach, Stanley Druckenmiller, Jerome Powell, hasn't Organizations: DoubleLine, Billionaire, Social Security, CNBC PRO Locations: New York, U.S

☆ Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more
▼ + stars: | 2023-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Pinterest — Shares of the image-sharing social media platform soared 19% Tuesday, a day after the firm's third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just "slightly" above the same quarter a year prior. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts had forecast, according to FactSet.

Persons: Pinterest, Busch, Jet Blue, LSEG, Wolfspeed, Chegg, Morgan Stanley, Baird, SoFi, Roku, MoffettNathanson, — CNBC's Pia Singh, Yun Li, Hakyung Kim, Lisa Kailai Han, Brian Evans, Jesse Pound Organizations: Anheuser, Busch, LSEG, Revenue, Caterpillar, JetBlue —, Jet, JetBlue, Spirit Airlines, Arista Networks, Arista, VF Corp, Vans, U.S, BP, ON, Asbury Automotive, JPMorgan Locations: Israel, LSEG, U.S

☆ Dutch regulator disputes Apple's commissions in dating app case
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. Although the case is limited to dating apps in the Netherlands, it is seen as having potential to set a precedent for other markets. Apple did agreed to make changes to the app store including opening it to alternative forms of payment for dating apps in the Netherlands. In February 2022 Apple cut commissions for dating app makers in the Netherlands to 27% from 30%. "Apple ... harms dating app providers by charging them an additional, and inexplicably higher, fee for the same services" it does other types of app makers, it said in the document.

Persons: Mike Segar, Foo Yun Chee, Toby Sterling, David Gregorio Our Organizations: Apple, REUTERS, Apple Inc, U.S ., Reuters, Bloomberg, Authority for Consumers and Markets, Rotterdam Court, ACM, Thomson Locations: Manhattan, New York City, Netherlands, U.S, Rotterdam

☆ Goldman says sell-off is a buying opportunity for these stocks with healthy balance sheets
▼ + stars: | 2023-10-30 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The recent sharp drawdown in stocks presents a buying opportunity for those stocks that are positioned to withstand a double whammy of higher interest rates and an economic slowdown, according to Goldman Sachs. "Although we expect headwinds to discount rates and balance sheets to persist, we would view a substantial further downgrade to the growth outlook as a buying opportunity," David Kostin, Goldman's chief U.S. equity strategist, said in a note to clients. Therefore, Goldman believes many cyclical stocks, or those with a high sensitivity to the economy, shouldn't suffer. "We therefore remain wary of long-duration and highly levered stocks but think investors should treat cyclical sell-offs as a buying opportunity," Kostin said. Energy stocks Devon Energy and Patterson-UTI Energy also made the list.

Persons: Goldman Sachs, David Kostin, Goldman, Kostin Organizations: Academy Sports, PVH Corp, Holdings . Energy, Devon Energy, Patterson, UTI Energy

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsBRUSSELS, Oct 29 (Reuters) - The Group of Seven industrial countries will on Monday agree a code of conduct for companies developing advanced artificial intelligence systems, a G7 document showed, as governments seek to mitigate the risks and potential misuse of the technology. The voluntary code of conduct will set a landmark for how major countries govern AI, amid privacy concerns and security risks, the document seen by Reuters showed. The 11-point code "aims to promote safe, secure, and trustworthy AI worldwide and will provide voluntary guidance for actions by organizations developing the most advanced AI systems, including the most advanced foundation models and generative AI systems", the G7 document said. The code urges companies to take appropriate measures to identify, evaluate and mitigate risks across the AI lifecycle, as well as tackle incidents and patterns of misuse after AI products have been placed on the market. Companies should post public reports on the capabilities, limitations and the use and misuse of AI systems, and also invest in robust security controls.

Persons: Dado Ruvic, Vera Jourova, Foo Yun Chee, Alexander Smith, Susan Fenton Organizations: REUTERS, Rights, Reuters, European Union, Companies, EU, Commission, Thomson Locations: Rights BRUSSELS, Canada, France, Germany, Italy, Japan, Britain, United States, Hiroshima, Southeast Asia, Kyoto

☆ The S&P 500 has entered a correction. Here's why Warren Buffett likely thinks that's good news
▼ + stars: | 2023-10-28 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The stock market tumbled into correction territory this week, spurring fear among investors that more turmoil is ahead. But if you are a disciple of Warren Buffett, a 10% drawdown for the equity benchmark shouldn't matter. "I know what markets are going to do over a long period of time — They're gonna go up. Buffett believes that when there's emotional selling in the market, it offers an opportunity for him to hunt for bargains. "Anytime stocks go down as far as I'm concerned, I like it because I'm a net buyer of stocks," he said.

Persons: Warren Buffett, Buffett, Benjamin Graham, They're, I've, Berkshire Hathaway, Stocks, aren't Organizations: Columbia University, CNBC, Berkshire, Oracle, Omaha, BNSF Railway, America, Dow, Cities Locations: Berkshire

☆ Stocks making the biggest moves midday: Intel, Chipotle, Juniper Networks and more
▼ + stars: | 2023-10-27 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Intel — Shares of the chipmaker popped 9.3% Friday, a day after Intel reported third-quarter results that topped analysts' expectations. Juniper Networks — The network management software provider climbed 6.1% after exceeding Wall Street's expectations on earnings and revenue for the third quarter. Juniper earned 60 cents per share on an adjusted basis, while analysts surveyed by FactSet expected 55 cents per share. Chipotle Mexican Grill — Chipotle shares led the market higher Friday, gaining 4.5% after the company's third-quarter earnings topped expectations. While profits fell short of Wall Street's expectations, revenue topped estimates.

Persons: Pat Gelsinger, Dexcom, Stanley Black, Decker, Juniper, FactSet, Chipotle, Ford, —, Alex Harring, Samantha Subin, Yun Li, Hakyung Kim Organizations: Intel —, Intel, Juniper Networks, Revenue, Bank of America, LSEG, Enphase Energy, Chevron, Ford, UAW

☆ ‘Big Short’ Michael Burry takes a victory lap after calling the tech-led market correction
▼ + stars: | 2023-10-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Michael Burry, best known for calling 2008's subprime mortgage crisis, just added a new notch in his belt by predicting the latest market correction led by tech stocks. The California-based investor, who now runs his hedge fund Scion Asset Management, had amassed massive bets against the stock market in the second quarter. These 20,000 options contracts were against shares worth $738.8 million at the end of the second quarter. These two indices fell into correction territory this week , making Burry's bets lucrative in theory. Also in the second quarter, Burry bought small stakes in travel names Expedia and MGM Resorts , as well as health care plays Cigna and CVS Health .

Persons: Michael Burry, SPDR, Burry, Michael Lewis, it's, Burry's Organizations: Asset Management, Scion, Nasdaq, Meta, CNBC, Federal Reserve, MGM Resorts, CVS Health Locations: California

Those meetings could set the stage for a summit between President Joe Biden and Chinese President Xi Jinping next month on the sidelines of an Asia-Pacific Economic Cooperation forum leaders gathering in San Francisco. Political Cartoons View All 1218 ImagesIn the months that followed that crisis, however, Blinken rescheduled his trip and went to China in June. The Chinese president last came to the U.S. in 2017, when former President Donald Trump hosted him at his Mar-a-Lago resort in Florida. The Chinese president told the governor that “the achievements of China-U.S. relations have not come easily and should be cherished all the more,” according to the official news agency Xinhua. It deteriorated further over a range of issues, including rights abuses, the South China Sea, Taiwan, technology and the COVID-19 pandemic.

Persons: Wang Yi, Antony Blinken, Jake Sullivan, Joe Biden, Xi Jinping, Blinken, Janet Yellen, John Kerry, Gina Raimondo, Sullivan, Wang, Han Zheng, Biden, “ Wang Yi’s, Ryan Hass, John L, ”, Yun Sun, Xi, “ Wang, ” Sun, ” Scott Kennedy, Kennedy, Donald Trump, Gavin Newsom, Chuck Schumer, Schumer, Trump Organizations: WASHINGTON, —, Hamas, Economic Cooperation, Ukraine, General Assembly, Biden, Thornton China Center, Brookings Institute, China Program, Stimson Center, San, APEC, Center for Strategic, International Studies, Chinese Foreign Ministry, U.S . California Gov, Xinhua Locations: East, Europe, U.S, China, Washington, Israel, Russia, Ukraine, Asia, San Francisco, The U.S, Taiwan, South, North Korea, Malta, New York, Lago, Florida, Bali , Indonesia, Beijing, South China Sea

☆ Mideast in Focus as US, China Meet to Pave Way for Biden-Xi Summit
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +6 min

But whether Beijing will use it remains to be seen and experts say China may instead watch from the sidelines for a while longer. Blinken, during a whirlwind Middle East trip last week, spoke by phone to Wang and asked him to use Beijing's clout to ensure the conflict does not widen. On Wednesday, Xi said whether Washington and Beijing could establish the "right" way of getting along and managing their differences would be crucial to the world. U.S. and Chinese officials held a virtual meeting on Monday on macroeconomic developments, talks the U.S. called "productive and substantive" and China called "in-depth, frank and constructive." U.S. officials said Taiwan and the South and East China Seas, where they accused Beijing of "destabilizing and dangerous actions" against rival territorial claimants, would also be on the agenda.

Persons: Humeyra Pamuk, David Brunnstrom, Laurie Chen WASHINGTON, Wang Yi, Joe Biden, Xi, Biden, Antony Blinken, Wang, Jon Alterman, WANG, BIDEN Shi Yinhong, Shi, Israel, Zhang Jun, Wang's, Blinken, Jake Sullivan, Xi's, Yun Sun, Washington, Laurie Chen, Trevor Hunnicutt, Josie Kao Organizations: State Department, . Security, Washington's Center, Strategic, International Studies, Renmin University of China, Reuters, White, PATH, BIDEN, Asia Pacific Economic Cooperation, China, Washington's, APEC, East China Seas, China's Global Times Locations: BEIJING, Washington, China, Beijing, Iran, Israel, Taiwan, South, U.S, Gaza, Asia, San Francisco, Bali, China . U.S, East

☆ Pending home sales rose in September, despite high mortgage rates
▼ + stars: | 2023-10-26 | by ( Anna Bahney | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —US pending home sales ticked up in September despite mortgage rates surging over 7%. Pending sales were down 11% from a year ago. Pending sales had seen slight increases in June and July, despite elevated prices and higher mortgage rates. But mortgage rates topping 7% in August snapped that streak, and pending sales dropped 7% from July to August. “Because of home builders’ ability to create more inventory, new-home sales could be higher this year despite increasing mortgage rates,” said Yun.

Persons: “, ”, Lawrence Yun, Yun, They’re Organizations: DC CNN, National Association of Realtors, South, West, “, Midwest, Housing Locations: Washington, Northeast, Midwest

☆ Stocks making the biggest moves midday: Merck, Bristol-Myers Squibb, Align Technology and more
▼ + stars: | 2023-10-26 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

UPS — The shipping company saw shares decline 5.9% after releasing its third-quarter earnings report, which showed disappointing revenue. Full-year revenue guidance was also slightly below expectations. Whirlpool — The home appliance company dropped 15.8% on Thursday after Whirlpool issued full year earnings guidance of about $16 per share. Bristol-Myers Squibb — Shares of the drug maker fell 6.2% after the company reported a decline in sales of its popular blood cancer drug, Revlimid, citing generic competition. ServiceNow — The workflow software company jumped 1.6% after posting third-quarter earnings and revenue that beat analyst expectations.

Persons: LSEG, Merck —, Merck, Steven Vondran, Thomas Bartlett, ServiceNow, —, Alex Harring, Yun Li, Lisa Kailai Han, Tanaya, Hakyung Kim Organizations: Bunge —, Comcast, UPS, Hasbro, Whirlpool, Bristol, Myers, Merck, Technology, American Tower Corporation, Flex, IBM —, Wall, CNBC Locations: NBCUniversal, American

Persons: Wang Yi, Joe Biden, Xi, Biden, Antony Blinken, Wang, Jon Alterman, WANG, BIDEN Shi Yinhong, Shi, Israel, Zhang Jun, Wang's, Blinken, Jake Sullivan, Xi's, Yun Sun, Washington, Humeyra Pamuk, David Brunnstrom, Laurie Chen, Trevor Hunnicutt, Josie Kao Organizations: State Department, . Security, Washington's Center, Strategic, International Studies, Renmin University of China, Reuters, White, PATH, BIDEN, Asia Pacific Economic Cooperation, China, Washington's, APEC, East China Seas, China's Global Times, Thomson Locations: WASHINGTON, BEIJING, Washington, China, Beijing, Iran, Israel, Taiwan, South, U.S, Gaza, Asia, San Francisco, Bali, China . U.S, East

☆ What the new House speaker means for government shutdown odds and the markets
▼ + stars: | 2023-10-26 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

After three weeks without a speaker, House Republicans finally handed the gavel to Mike Johnson of Louisiana on Wednesday. The new House speaker arrives as lawmakers have been unable to pass spending legislation — with a Nov. 17 deadline nearing. Ukraine funding Another pressing issue is President Joe Biden's $106 billion defense supplemental request, on which Johnson has not signaled a clear position. "We expect Mr. Johnson and House Republicans will try to unbundle the proposal." Johnson is taking over as House speaker as the stocks market struggles.

Persons: Mike Johnson of, Johnson, Tobin Marcus, Jan Hatzius, Goldman Sachs, Marcus, Joe Biden's, Brian Gardner, Stifel's, Biden, Gardner, — CNBC's Michael Bloom Organizations: Republicans, Street, GOP, Wolfe Research, Senate, Ukraine, House Republicans, Nasdaq Locations: Mike Johnson of Louisiana, Israel, Ukraine, Washington

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Waste Management and more
▼ + stars: | 2023-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. Norfolk Southern — The freight railroad dropped 5.3% on the back of disappointing third-quarter earnings. General Dynamics — Shares of General Dynamics rose 4% after the defense contractor's third-quarter earnings and revenue topped estimates. The semiconductor manufacturer sees earnings per share between $1.35 and $1.57, versus the $1.76 expected by analysts polled by FactSet. The stock's third-quarter revenue also disappointed investors, coming in at $4.35 billion, versus the $4.58 billion estimated by analysts polled by LSEG.

Persons: Wells, Max, —, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li Organizations: Microsoft —, Microsoft, Windows, Norfolk Southern, LSEG, Revenue, Dynamics —, Dynamics, General Dynamics, Boeing —, Deutsche Bank, . Waste Management, Texas, FactSet Locations: U.S

☆ What it will take to make homes affordable again for millions of Americans
▼ + stars: | 2023-10-25 | by ( Tim Mullaney | ) www.cnbc.com time to read: +12 min

"At the current 8% mortgage rate, mortgage payment[s] are 38% of median income," Moody's Analytics chief economist Mark Zandi said. The National Association of Realtors measures affordability through its 34-year old Housing Affordability Index, or HAI. And even if home prices do the decline, that trend won't be sustainable unless America builds millions of more homes. And spreads will likely remain extra-wide until short-term interest rates drop below the rates on longer-term treasuries, Duncan said. "Mortgage rates will not go back to 3% – we'll be lucky if we get back to 5," Yun said.

Persons: —, John Burns, maven Mohamed El, Lawrence Yun, Yun, Mark Zandi, That's, Doug Duncan, Fannie, Duncan, Daryl Fairweather, They've, Fairweather, they've, Freddie Mac, –, Zandi, it's Organizations: Nurphoto, Getty, National Association of Realtors, John Burns Real Estate Consulting, NAR, Redfin, Allianz, America, Federal Reserve, realtors, Builders, Fed Locations: Florida, Austin , Texas, Boise , Idaho, Fannie Mae, America, New York, California, Phoenix, Tampa, Louisville, Indianapolis, Chicago

☆ How oil could spike to $150, even $250 if Israel-Hamas war escalates, according to Bank of America
▼ + stars: | 2023-10-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The Wall Street side of the Charlotte-based bank laid out scenarios where oil could hit $150 per barrel, or even $250, depending on how the war shakes out. The international oil benchmark Brent crude held around $88 Wednesday after trading closer to $94 late last week. Bank of America sees any escalation involving Iran triggering a jump to $120 to $130 per barrel. If a physical supply disruption occurs because of attacks on energy infrastructure, oil could surge above $130 a barrel, Bank of America said. If the strait is closed, oil prices can spike above $250 per barrel, the bank said.

Persons: BofA Organizations: Hamas, Bank of America, Brent, . West Texas, West Texas, U.S, Hezbollah, bbl Locations: Israel, Charlotte, Iran, Palestinian, Yemen, Iraq, Lebanon, Tehran, Syria, Lebanese, Hormuz

☆ Stocks making the biggest moves premarket: Alphabet, Microsoft, Boeing and more
▼ + stars: | 2023-10-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Alphabet — The Google and YouTube parent sank more than 6% premarket after results for its cloud business fell short of estimates. Boeing — Shares of the jet plane maker rose more than 3% premarket after it reported a quarterly revenue beat . Texas Instruments —The semiconductor designer and manufacturer's stock slid 5.5%, one day after fourth quarter guidance trailed estimates. Visa — The payments stock fell 1.3% before the bell after fourth quarter earnings and revenue topped analyst estimates and it raised its dividend by 16%. Revenue also beat expectations, along with fiscal second quarter and full-year revenue guidance.

Persons: Max, TXN, FactSet's StreetAccount, Wells, Hilton, Stride, —, Alex Harring, Sarah Min, Fred Imbert, Yun Li Organizations: Google, YouTube, LSEG, Microsoft, Xbox, Boeing —, Boeing, Texas, Deutsche Bank — U.S, Deutsche Bank, Visa, Dynamics, General Dynamics, Mobile, Revenue Locations: Israel, FactSet

[1/3] The logo of French telecom operator Orange is pictured in Brussels, Belgium May 22, 2023. Orange and MasMovil plan to divest spectrum, a customers unit and a brand as well as offer Digi access to infrastructure, the people said. Digi has expanded rapidly in the Spanish market since it launched operations there in 2008. It had more than 5.7 million customers at the end of the first half of 2023. ($1 = 0.9440 euros)Reporting by Foo Yun Chee Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman, MasMovil, Orange, Foo Yun, Mark Potter Organizations: REUTERS, Rights, Orange, Regulators, European Commission, EU, Telefonica, Vodafone, Thomson Locations: Brussels, Belgium, Rights BRUSSELS, Spain, Spanish

Rates just keep climbing, with 30-year mortgage rates hovering near 8%. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.63%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.92% last week, a 3-point increase compared to the prior week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

Persons: Lawrence Yun, you'll, Freddie Mac Organizations: National Association of Realtors, Federal, Zillow, Federal Reserve Locations: Chevron

☆ Goldman's playbook for 5% 10-year yield. These strong balance sheet stocks are winners
▼ + stars: | 2023-10-23 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Investors should focus on stocks with strong balance sheets as these companies tend to be more resilient against high interest rates, according to Goldman Sachs. Bond yields have been surging lately as the Federal Reserve signaled higher rates for longer in its inflation fight. Higher rates make it more expensive to borrow, and they effectively lower the present value of any future earnings. Stocks with strong balance sheets have outperformed those with weak ones by 4 percentage points since the start of September, Goldman said. Meanwhile, investors are rotating away from stocks perceived to be vulnerable to the higher rate backdrop, including those with levered balance sheets, Goldman said.

Persons: Goldman Sachs, David Kostin, Goldman, Kostin, CNBC's Michael Bloom Organizations: Federal Reserve, Companies, Big Tech, Netflix, Nvidia, Colgate, Palmolive, Costco, American Airlines, Caesars Entertainment, Delta Air Lines

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