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Traders work on the floor of the New York Stock Exchange during afternoon trading on April 9, 2024. Stock futures fell sharply Thursday after the latest U.S. economic data showed a sharp slowdown in growth and pointed to persistent inflation. Futures tied to the Dow Jones Industrial Average fell 419 points or 1.1%. Along with the downbeat growth rate for the quarter, the report showed consumer prices increased at a 3.4% pace, well above the previous quarter's 1.8% advance. Following the GDP print, traders moved down expectations for an easing of Federal Reserve monetary policy.
Persons: Dow Jones, Chris Larkin, Morgan Stanley Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Treasury, Dow, Federal Reserve, Federal, Traders
Hilton Worldwide Holdings — The hotel stock climbed 4% on the back of strong first-quarter adjusted earnings and raised full-year guidance. Mattel saw $810 million in revenue during the quarterly period, which was less than the consensus estimate of $832 million. Adjusted earnings per share came in at 61 cents, beating analysts' expectations of 27 cents per share, according to LSEG. Revenue of $757 million was greater than the $739 million analysts anticipated. Sales of Biogen's Alzheimer's drug Leqembi came in at about $19 million for the quarter, surpassing the $11 million analysts had anticipated, per FactSet.
Persons: LSEG, Elon Musk, Tesla, Musk's, Hilton, Mattel, Enphase, Biogen, LSEG ., Leqembi, , Jesse Pound, Alex Harring, Michelle Fox, Lisa Han Organizations: Boeing, . Old Dominion, Hilton Worldwide Holdings, Texas, Mattel, LSEG, Hasbro, Enphase Energy, Dynamics —, Dynamics, Seagate Technology, Seagate Locations: FactSet, LSEG
Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. U.S. stock futures fell on Wednesday night after tech juggernaut Meta Platforms reported its latest quarterly results. S&P 500 futures slid 0.6%, and Nasdaq 100 futures dropped 1.1%. Meta Platforms plunged 15% in extended trading after the social media giant issued second-quarter revenue guidance that was lighter than expected. Fed funds futures trading suggests the first cut could take place at the September Fed meeting, according to CME FedWatch Tool.
Persons: Dow Jones, Anastasia Amoroso, Northrop Grumman, Myers Squibb Organizations: New York Stock Exchange, Traders, Dow Jones, Nasdaq, Business Machines, Dow, Federal, FedWatch, Caterpillar, Honeywell, Northrop, American Airlines, Comcast, Merck, Bristol, Myers, CNBC Locations: New York City . U.S
Ford Motor — The automobile stock rose 2% after posting a first-quarter adjusted earnings beat and raising its adjusted free cash flow outlook for 2024. On the other hand, Ford's first-quarter revenue came in below expectations. First-quarter revenue of $14.46 billion missed consensus estimates of $14.55 billion, LSEG said. Chipotle earned $13.37 per share, excluding items, outpacing the $11.68 per share LSEG estimate, as traffic to its restaurants was robust. United Rentals — The equipment rental company added 2.4% after posting a first-quarter adjusted earnings and revenue beat.
Persons: LSEG, Ford's, Ethan Allen, Ethan Allen's, Chipotle, Lam, ServiceNow, , Christina Cheddar, Berk, Darla Mercado, Scott Schnipper Organizations: Technology, Facebook, Meta, Ford, Machines, IBM, Whirlpool, Research, Lam Research, Revenue, Churchill, United Rentals
Some companies that are about to report earnings could see a slide in their share prices. With the busiest week of earnings season underway, investors are certainly in for a hectic time. Nearly a third of the companies in the S & P 500 are scheduled to report their earnings this week. CNBC Pro screened the S & P 500 for companies that could see their stocks tumble after earnings. Industrial technology company Rockwell Automation has had its earnings revised downward 29 times in the past three months.
Persons: Myers Squibb, Steve Chesney Organizations: CNBC Pro, Myers, Bristol, Myers Squibb, Rockwell Automation, Gilead Sciences Locations: Bristol, Biopharmaceutical, Gilead
A severely ill 54-year-old woman earlier this month became the second person to receive a kidney transplanted from a genetically modified pig, surgeons at NYU Langone Health in New York announced on Wednesday. The patient, who had both heart failure and kidney failure, was given the organ on April 12, just eight days after receiving a mechanical heart pump. Surgical teams at NYU Langone carried out the two procedures over the course of nine days. The kidney came from a genetically engineered pig provided by United Therapeutics Corporation, a biotech company. The pig carried a gene for producing a sugar called alpha-gal that had been “knocked out,” or blocked.
Persons: NYU Langone, Lisa Pisano, Organizations: NYU Langone Health, NYU, United Therapeutics Corporation Locations: New York, New Jersey
Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicLawmakers approved a giant new tranche of support for Ukraine late last night after a tortured passage through the U.S. Congress, where it was nearly derailed by right-wing resistance in the House. Marc Santora, a Times reporter in Ukraine’s capital, Kyiv, explains what effect the money could have, given Ukraine’s increasing desperation on the battlefield.
Persons: Marc Santora Organizations: Spotify, Amazon Music Lawmakers, Ukraine, U.S . Congress Locations: Kyiv
Less obviously visible but equally impressive are the historical treasures, some more than 12,000 years old, that can be found underground. Unlike the Basilica, this underground chamber was completely forgotten about until less than 15 years ago. Other than locals herding their livestock through the ruins of a garrison city dating to the 6th century, few people went there. Now, the site has given up numerous treasures including rock-cut tombs, an olive processing workshop and a series of underground cisterns. Yeraltı, literally meaning underground, was originally a dungeon in the basement of a fort built by the Byzantines in the 8th century CE.
Persons: James Bond, Theodosius II, Theodosius, Derinkuyu, tufa, émigrés, Han, Rümeli Han, Sarıcazade Ragıp Pasha, Sultan Abdülhamid II’s, Sancaklar, Göbeklitepe, Yeraltı, , Fatih Sultan Mehmet, Grand Vizier Bahir Mustafa Paşa, dervish Organizations: CNN, Love, UNESCO, Şanlıurfa Archaeology Locations: Turkey, Europe, Asia, Russia, Faith, Istanbul, Constantinople, Fatih, Belgrade Forest, Valens, Dara, Mardin, Nevşehir, Cappadocia, Derinkuyu, Taksim, stairwells, Sancaklar, Büyükçekmece, Mecca, Göbeklitepe, everyone’s, Şanlıurfa, Karaköy, Yeraltı, Ottoman, Grand
General Motors — Shares rose more than 4% after the automaker exceeded analysts' expectations for its first-quarter results . General Motors posted adjusted earnings of $2.62 per share on revenue of $43.01 billion. Danaher — The life sciences firm popped more than 7% after beating analysts' expectations for its first-quarter results. Spotify — The streaming music company surged 16% after easily topping earnings expectations . KeyBanc Capital Markets downgraded Sunnova Energy to sector weight from overweight, citing caution on residential solar names particularly ahead of first-quarter earnings.
Persons: General Motors, JetBlue's, LSEG, Nucor, Danaher, Sherwin, Williams, Sunnova, LKQ, MSCI, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: General Motors, General, GE Aerospace —, GE, PepsiCo, Novartis, JetBlue Airways —, Spotify, JPMorgan, Sunnova Energy, KeyBanc, FactSet Locations: U.S, LSEG . Cleveland, Cleveland
The results were better than analysts' expectations of 65 cents per share on revenues of $15.14 billion, according to LSEG. UPS posted $1.43 adjusted earnings per share while analysts had estimated $1.29 earnings per share, according to LSEG. Danaher — The life sciences firm popped more than 8% after beating analysts expectations for its first-quarter results. Spotify — Shares rallied 8.4% after the music streaming company's first-quarter revenues beat analysts' expectations. Sherwin-Williams reported adjusted earnings per share of $2.17, missing the FactSet consensus estimate of $2.22.
Persons: General Motors, Nucor, Danaher, Lockheed Martin, LSEG, Sherwin, Williams, — Hakyung Kim, Tanaya Macheel, Alex Harring, Jesse Pound, Lisa Han Organizations: General, GM, GE Aerospace —, United Parcel Service, UPS, Pepsico —, Pepsico, Novartis — U.S, JetBlue Airways —, JetBlue, Wall Street, SAP — U.S, SAP, Revenue, Lockheed, , Spotify Locations: Swiss, Wall Street Cleveland
Brussels, Belgium CNN —A Belgian man was acquitted of drunk driving on Monday because he suffers from auto-brewery syndrome (ABS), a rare condition whereby the body produces alcohol, his lawyer said. Anse Ghesquiere told Reuters that in “another unfortunate coincidence” her client works at a brewery, but three doctors who independently examined him confirmed he suffered from ABS. The Bruges police court, which acquitted the man, did not immediately reply to an email from Reuters. Lisa Florin, clinical biologist with Belgian hospital AZ Sint-Lucas, explained that people with the condition produce the same type of alcohol as the one in alcoholic drinks but that they generally feel less of its effects. She added that people are not born with ABS but can get it when they already suffer from another intestine-related condition.
Persons: Belgium CNN —, Anse Ghesquiere, Lisa Florin, Lucas Organizations: Belgium CNN, Reuters, ABS, Belgian, AZ Sint Locations: Brussels, Belgium, Belgian, Bruges
New York CNN —Columbia University student organizers were given a midnight deadline Tuesday to resolve talks with the university over dismantling the pro-Palestinian encampment that has cast its campus into days of turmoil and unease, the school’s president said. Though the outcome of the negotiations is still unclear, Columbia President Minouche Shafik said the university would consider “alternative options” if no agreement was reached by midnight. As of 12:10 a.m., the NYPD had not been asked by Columbia University to respond to the campus, a police spokesperson told CNN. Harvard University has closed Harvard Yard and officials at the university suspended a pro-Palestinian student organization for allegedly violating school policies. The encampment at Columbia University was lively early this week, with many students congregating in circles, eating and talking.
Persons: Minouche Shafik, Shafik, ” Shafik, Joe Biden, Mike Johnson, Barnard, Lisa Rosenbury, , Eric Adams, Cameron Jones, , Jacob Schmeltz, it’s, , Biden, Andrew Bates, Bates, Hakeem Jeffries, It’s, ” CNN’s Kate Sullivan, John Towfighi, Melanie Zanona, Taylor Romine, Omar Jimenez, Sara Smart, Matt Egan, Nic F, Anderson, Isabel Rosales Organizations: New, New York CNN — Columbia University, Columbia, New York Police Department, NYPD, Columbia University, CNN, Barnard College, New York University, NYU, Yale University, University of New, University of Minnesota’s, Massachusetts Institute of Technology, Emerson College, University of California, University of Michigan . Harvard University, Harvard, Columbia Columbia, New York City, Democratic Locations: New York, Columbia, United States, New Haven , Connecticut, Gaza, University of New Mexico, University of Minnesota’s Twin Cities, Berkeley, Israel
Al Drago/Bloomberg via Getty ImagesThe Biden administration issued a final rule on Tuesday that cracks down on the investment advice that advisors, brokers, insurance agents and others give to retirement savers. The final rule takes effect on Sept. 23. Current retirement rules don't provide adequate protections to savers, Labor Department officials said during a press call Tuesday. Such a dynamic can "chip away" at Americans' savings, Gomez said. The amount of 401(k)-to-IRA rollovers is 'astronomical'The final rule doesn't differ significantly from the Biden administration's initial proposal, Labor officials said.
Persons: Al Drago, Biden, Obama, Lisa Gomez, That's, Gomez, Andrew Oringer, Oringer Organizations: U.S . Department of Labor, Bloomberg, Getty, Labor, Security, The Labor Department, Economic Advisers, Biden, Finance, Economic, Wagner, Department of Labor Locations: Washington, IRAs
CNN —Kim Kardashian has led quite the life. “She was my next door neighbor when I was like seven and eight years old,” Kardashian said. “Everyone was like, ‘Oh my God I love your bracelets.’ And we were like, ‘Thanks. Kimmel also asked a few questions to clear up rumors he had heard about Kardashian, like whether she blow dries her jewelry before she wears it. Kardashian does not, however, have six toes on one foot.
Persons: CNN — Kim Kardashian, Kardashian, Jimmy Kimmel, Kourtney, Madonna, , ” Kardashian, ’ ” Kardashian, Kimmel, Michael Organizations: CNN
Li Auto , Tesla — The electric vehicle makers tumbled more then 7% and 3%, respectively, following announcements of price cuts. Tesla chopped down the sticker price of its Model 3 in China, on top of decreases in other markets Reuters reported . Verizon — The telecommunications giant traded 1.5% higher as earnings per share came in ahead of expectations. Block — Shares added 0.7% after Bank of America reiterated its buy rating on the financial services stock. Hut 8 — Shares gained 2.6% after Benchmark initiated coverage of the data center operator with a buy rating, citing Hut 8's diversified business model and its sizeable bitcoin holdings.
Persons: Li Auto, Tesla, Li, Xpeng, JPMorgan Chase, Morgan Stanley, , Lisa Kailai Han, Hakyung Kim, Sarah Min Organizations: Tesla, Reuters, Verizon, FactSet, Wall Street, JPMorgan, Marathon, Alcoa, Bank of America Locations: China, New York
Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicThe outbreak of bird flu currently tearing through the nation’s poultry is the worst in U.S. history. Scientists say it is now spreading beyond farms into places and species it has never been before. Emily Anthes, a science reporter for The Times, explains.
Persons: Emily Anthes Organizations: Spotify, The Times
Things are not looking up for Apple ahead of its fiscal second-quarter earnings, according to tech investor Dan Niles. Apple, which is due to report May 2, has dropped 14% this year — lagging behind other major technology stocks, such as Nvidia and Meta Platforms. Apple is also lagging behind its peers in the artificial intelligence race, which is why it keeps on exploring opportunities with potential partners such as Alphabet , Niles added. "On a longer-term basis at this valuation with no growth, I don't know why you would be bullish on it," the portfolio manager said. Niles has been bearish on Apple in the past.
Persons: Dan Niles, Satori, haven't, Niles, CNBC's, he's Organizations: Apple, Nvidia, Meta, Satori Fund, Huawei isn't Locations: China
As the busiest week for first quarter earnings results kicks off, several stocks on the docket to report this week may be poised for big swings. As of last Friday, 74% of companies in the S & P 500 reported a positive earnings surprise while 58% beat revenue expectations, according to FactSet. This week is scheduled to be the busiest one of the season, with 29% of companies in the S & P 500 — or 146 companies — due to post results. With so many corporate results to be released this week, investors may want to pay special attention to some earnings more than others in advance. CNBC Pro screened for the stocks that could see significant post-earnings moves either up or down, based on investors' expectations in the options market.
Persons: AllianceBernstein, Mark Shmulik, Shmulik, Jamie Baker, Morgan Stanley, Benjamin Swinburne Organizations: Dow Jones, CNBC Pro, JetBlue, American Airlines, JPMorgan, Spotify Locations: Stockholm
From the multiplex to social media, the prospect of America collapsing into armed conflict has moved from being an idea on the tinfoil-hat fringes to an active undercurrent of the country’s political conversation. Voters at campaign events bring up their worries that political division could lead to large-scale political violence. A cottage industry has arisen for speculative fiction, serious assessments and forums about whether the country could be on the verge of a modern-day version of the bloodiest war in American history. And “Civil War,” a dystopian action film about an alternative America plunged into a bloody domestic conflict, has topped box office sales for two consecutive weekends. Of course, the notion of a future civil war remains a mere notion.
Persons: Pollsters Locations: America, Brownsville , Texas, Boston
Opinion: Shaking off the Trump effect
  + stars: | 2024-04-21 | by ( Richard Galant | ) edition.cnn.com   time to read: +19 min
We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“We are most deeply asleep at the switch,” wrote Annie Dillard, “when we fancy we control any switches at all. When the Senate voted to send new aid to Ukraine, Israel and Taiwan two months ago, House Speaker Mike Johnson took no action. With the help of Democrats, the House approved aid to Ukraine, Israel and Taiwan on Saturday. Writing for CNN Opinion, he emphasized that there are legal principles that require universities to prohibit expressions of antisemitism.
Persons: CNN —, , Annie Dillard, , time’s, , Mike Johnson, Donald Trump, Joe Biden, Trump, Biden, Sleepy Joe ”, Israel, Johnson, MAGA, Julian Zelizer, Walt Handelsman, Marjorie Taylor Greene’s, Kevin McCarthy’s, Clay Jones, Fareed Zakaria, Alejandro Mayorkas, “ Biden, ” Zakaria, Bill Clinton, ” Trump, Jack Ohman, Agency Donald Trump’s, dozed, Elliot Williams, Patrick T, Brown, , , , Attorney Alvin Bragg, ” Will, Jeffrey Abramson, ” “, Norm Eisen, Stormy Daniels, ” Eisen, Michael Cohen, Elie Honig, Frida Ghitis, Benjamin Netanyahu, ” Lisa Benson, GoComics.com Peter Bergen, Daniel R, DePetris, Dean Obeidallah, Susanne DeWitt, ” David Schizer, ” Schizer, Danielle Campoamor, Caitlin Clark, Simone Biles, Campoamor, Latika Bourke, John Howard, Justin J, Pearson, Winston Churchill, Holly Thomas, Boris Johnson, Rishi Sunak’s, It’s, ” Thomas, YouGov, ” Don’t, Drew Sheneman, Agency David M, Perry, Frankie de la, Angel Reese, Roy Schwartz, Joni Mitchell —, Raul A, Reyes, Sonia Sotomayor, Jules Boykoff, Jaime M, Valiathan, Ed Manning, Sara Stewart, Noah Berlatsky, Taylor Swift Amy Bass, Taylor Swift, Swift, Department ”, ” Bass, “ Swift, Joe, Alwyn, Diana, they’re, Clara Bow, Dylan Thomas, Patti Smith — Organizations: CNN, Republicans, MAGA Republicans, Agency, Congress, Biden, Homeland, National Guard, , Manhattan, Attorney, New York Democrats, Twitter, Facebook, New York Times, Trump, Berkeley, Nazism, Columbia, Nike, Team USA, Sydney, Port, Conservative, Squadron, Royal Auxiliary Air Force, Central Press, Hulton, National Health Service, WNBA, Ungentlemanly, Department Locations: Ukraine, Israel, Taiwan, Manhattan, Iran, Russia, China, , New, CNN Iran, “ Israel, Gaza, Israeli, Damascus, Iraq, America, Dearborn, Nazi Germany, Berkeley , California, Berkeley, East Bay, Sydney, Port Arthur, Tennessee, Surrey, Croydon, Quebec, Britain, Vancouver, London, Welsh
New York CNN —The Mona Lisa can now do more than smile, thanks to new artificial intelligence technology from Microsoft. In one demo video, researchers showed how they animated the Mona Lisa to recite a comedic rap by actor Anne Hathaway. Outputs from the AI model, called VASA-1, are both entertaining and a bit jarring in their realness. “We are opposed to any behavior to create misleading or harmful contents of real persons,” Microsoft researchers said in a blog post. For example, in one demo video set to a clip of someone sounding agitated, apparently while playing video games, the face speaking has furrowed brows and pursed lips.
Persons: Mona Lisa, Anne Hathaway, VASA, it’s, OpenAI, Sora Organizations: New, New York CNN, Microsoft Locations: New York
Let Them Eat … Everything
  + stars: | 2024-04-21 | by ( Lisa Miller | ) www.nytimes.com   time to read: +1 min
The sheet-pan chicken and roasted broccoli are out of the oven, and white rice is steaming on the stove. Sole-Smith tries not to be a short-order cook. “Respect the labor,” is how she puts it, reminding her children that if they don’t like what she has prepared, there’s other stuff to eat in the house. A pullout shelf in the pantry holds Tate’s chocolate chip cookies, Goldfish crackers, pea snaps, and chocolate kisses. A year ago, Sole-Smith published “Fat Talk: Parenting in the Age of Diet Culture,” a guide to helping parents grapple with their discomfort and anxiety about weight and food.
Persons: Smith, Violet, Beatrix, Penelope Organizations: Virginia Locations: Cold, N.Y
With interest rate uncertainty on the rise across the market, it may be time to buy stocks with a demonstrated history of low volatility. The Cboe Volatility Index — a yardstick of expected market volatility — briefly rose above 21 on Friday, its highest level since last October. The insurance stock currently has a 5-year beta of 0.54 relative to the S & P 500, and a price volatility score of 6.28. With a 5-year beta of 0.78 versus the S & P 500 and a 5-year price volatility score of 6.50, medical equipment maker Boston Scientific also turned up on the screen. Compared to the S & P 500, Merck's 5-year beta comes in at 0.39, while its 5-year price volatility scores a 6.06.
Persons: Joanne Wuensch Organizations: CNBC Pro, Boston Scientific, Citigroup, Boston, Pharmaceutical, Merck, Food, NextEra Energy Locations: UnitedHealth
Insider Today: Skip the supplements
  + stars: | 2024-04-20 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +5 min
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The singer's rollout strategy for "The Tortured Poets Department" — releasing zero singles and barely promoting — is a true power move. Bernadette RankinThis week's dispatchGet into destination dupesAre you sick of high prices to travel to your favorite destination across the pond? AdvertisementAccording to Expedia, one of the biggest trends of 2024 is destination dupes — places where you can travel for way less. More of this week's top reads:The Insider Today team: Joi-Marie McKenzie, editor-in-chief, in New York.
Persons: , Taylor, Bernadette Rankin, Expedia, That's, Graham Denholm, Chelsea Jia Feng, Taylor Swift, Amy Sussman, WireImage, Alex Garland, Garland, Michael Pollan, Tabitha Soren, subjug, Tyler Le, Broccoli, Carl Juste, Rebecca Zisser, Birkin, Robert Durst, Riley Keough, Lily Gladstone fictionalizes, Joi, Marie McKenzie, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan Organizations: Service, Department, Business, Boeing, Danish, Mount, Rights Management, Chelsea, Poets Department, Defense, Food, Miami Herald, Tribune, Getty, Augusta National Golf, Hulu Locations: California, Copenhagen, Netherlands, Mount Vernon , Washington, Paris, New York City, New York
American voters absorbed their first view of an extraordinary split-screen campaign this week, with President Biden sprinting across one of the country’s top battleground states and former President Donald J. Trump sitting — and appearing to snooze — in a New York courtroom. Just as it has for years, the country’s political map has hardened into a battle across a handful of crucial swing states. Mr. Trump’s required appearance in a Lower Manhattan courtroom effectively leaves him little choice but to continue to be a weekend warrior in those states. Now, for much of the week, Mr. Biden has the electoral landscape largely to himself. Mr. Biden campaigned across Pennsylvania, casting Mr. Trump as an out-of-touch plutocrat and collecting endorsements from the Kennedy family.
Persons: Biden, Donald J, Trump, snooze, Trump’s, Mr, Kennedy, , John F, Robert F, Organizations: Locations: New York, Lower Manhattan, Pennsylvania, Scranton, Philadelphia
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