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☆ These industrials are powering ahead after a bleak start to the year
▼ + stars: | 2023-08-04 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

CAT YTD mountain Caterpillar (CAT) year-to-date performance. Caterpillar had a stand-out quarter , delivering big on an item that previously dinged its share price. The company's backlog – sales made, but not yet completed and recorded — increased to $30.8 billion, an increase of $2.2 billion year-over-year. EMR YTD mountain Emerson Electric (EMR) year-to-date performance. Emerson Electric posted a strong quarter , with better-than-expected profit margins and a raised full-year outlook for sales and earnings.

Persons: Industrials, Stanley Black, Decker, Rockwell, Stanley, Morgan Stanley, Linde, Sanjiv Lamba, Jim Cramer, Jim Cramer's, Jim, David Paul Morris Organizations: Club, Caterpillar, Emerson Electric, Honeywell, Linde, LIN, CAT, U.S, Emerson, Rockwell Automation, Revenue, Citi, CNBC, Bloomberg, Getty Locations: North America, Wall, West Sacramento , California

European shares (.STOXX) slipped 0.6%, bruised by disappointing earnings reports and elevated U.S. bond yields, on course for their third straight day of losses. Sterling extended losses after the BoE decision, falling as much as 0.7% to its lowest since June 30. The BoE decision was closely watched for clues on how central banks globally will balance taming inflation and maintaining growth. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4%, extending losses after a drop of 2.3% a day earlier.

Persons: Sterling, BoE, Stuart Cole, Morgan Stanley, Tom Wilson, Stella Qiu, Mark Potter, Bernadette Baum Organizations: REUTERS, Staff, Sterling, LONDON, Bank of England, FTSE, Equiti, Nasdaq, Treasury, U.S, AMAZON Investors, Apple, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, China, London, Sydney

European shares (.STOXX) slipped 1.1% after falling on Wednesday to two-week lows as rating agency Fitch cut the U.S. government's credit rating. UK shares (.FTSE) fell 1.3%, with the Bank of England (BoE) expected to raise interest rates later in the day. Pressuring stocks were a climb in long-term U.S. Treasury yields after stronger-than-expected private employment data and the announced refunding of the U.S. government's maturing debt. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. The risk, investors said, was that a repeat of June's surprise half-point increase could fuel bets that major central banks are not done tightening yet.

Persons: Issei Kato, Fitch, BoE, Jonathan Petersen, Morgan Stanley, Sterling, Tom Wilson, Stella Qiu, Kim Coghill, Mark Potter Organizations: REUTERS, Apple, LONDON, Bank of England, Nasdaq, Treasury, U.S, Capital Economics, APPLE, Thomson Locations: Tokyo, Japan, Asia, SYDNEY, Pacific, China, London, Sydney

☆ Progressive Democrats are proposing a new tax they say will help 'close the exorbitant wealth gap'
▼ + stars: | 2023-08-03 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

The richest 0.1% of US households held 20% of the wealth, says the Patriotic Millionaires group. It's helped several Democrats Representatives devise legislation for a new wealth tax. The Bill aims to close the "exorbitant" US wealth gap but has little chance of passing the House. The legislation has four brackets:2% for all wealth between 1,000 and 10,000 times median household wealth4% for all wealth between 10,000 and 100,000 times median household wealth6% for all wealth between 100,000 and 1,000,000 times median household wealth8% for all wealth over 1,000,000 times median household wealthThe median American household wealth is just over $120,000, according to the Patriotic Millionaires. The Patriotic Millionaires have long campaigned for fairer income redistribution, and say the net worth of America's 735 billionaires is now $4.7 trillion.

Persons: It's, Bill, Barbara Lee of, Jamaal Bowman, Lee, Morris Pearl Organizations: Patriotic Millionaires, Service, New, BlackRock, Republican, Internal Revenue Service Locations: Wall, Silicon, Barbara Lee of California, New York, United States, America

☆ 'Realistic, not frothy': Investor says S&P 500 will hit 5,000, names stocks to buy in that scenario
▼ + stars: | 2023-08-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Some on Wall Street are getting increasingly bullish on the S & P 500 , raising their price targets for the index. It increased its year-end S & P 500 price target from 4,400 to 4,900 — the highest in CNBC's Market Strategist survey . Mid-cap tech stocks : Ball said "mid tech is the equity place for tomorrow." Big tech stocks have contributed to much of the gains this year — although the rally is broadening out — but other well established "but not gigantic" tech stocks have "more premise looking ahead." Energy stocks: The S & P 500 energy subsector has underperformed this year, gaining just 1% to date.

Persons: Sanders Morris Harris, George Ball, CNBC's, Ball Organizations: Oppenheimer Asset Management, CNBC's, Citi, Trade, Energy, Enterprise Products Partners Locations: Tuesday's, bitcoin

☆ The Conductor John Wilson Doesn’t Like Musical Distinctions
▼ + stars: | 2023-08-03 | by ( Hugh Morris | ) www.nytimes.com time to read: +1 min

There’s an affability between Wilson and the players, many of whom he’s had relationships with for two decades. (“I feel very much as if I’m one of them,” he said in an interview later.) “We want to be in that very demanding, high-achieving environment, where most of us, 90 percent of the time, feel like we’re impostors. Wilson aims “for a different kind of homogeneity,” Mills said. “There’s plenty of sizzling vibrato,” said Charlie Lovell-Jones, another leader of the orchestra, making “a sound you can chew.”

Persons: There’s, Wilson, he’s, ”, tersely, ” Wilson, William Walton’s, “ John, John Mills, “, ” Mills, Mills, Charlie Lovell, Jones Organizations: Sinfonia, London

European stocks (.STOXX) fell 0.2%, stepping back from a 2% gain in July, its second month of gains. UK stocks (.FTSE) edged up 0.1%, however, with HSBC (HSBA.L) climbing 2.6% after announcing a $2 billion share buyback and raising its key profitability target. Oil prices traded near a three-month high hit on Monday amid signs of tightening global supply. Also buoying prices were producers cutting output and demand in the United States, the world's biggest fuel consumer, remaining resilient. The U.S. dollar index - which measures the currency against six major peers - rose as high as 102.07 for the first time since July 10.

Persons: Sandrine Perret, Hong, HSI, Alec Jin, Tom Wilson, Kevin Buckland, Ankur Banerjee, Lincoln, Bernadette Baum Organizations: HSBC, LONDON, . Federal, Fed, Brent, Energy, BP, Bank of, Japan's Nikkei, Reserve Bank of Australia, U.S, Thomson Locations: TOKYO, Unigestion, United States, London, Asia, Tokyo

But two months after President Joe Biden announced US support for training Ukrainian pilots on F-16s, there remain a number of critical details to work out. It is also still unclear which countries will commit F-16s to the training program – and to Ukraine itself once the program is finished. The training program will be for Ukraine and “also for other countries who are transitioning to the fourth generation fighter jets,” she said. The number of Ukrainian pilots set to be trained is also still being determined, but the Air Force memo recommended a pool of 10-12 participants. “The United States will not be the holdup in ensuring that this F-16 training can get under way.”

Persons: Volodymyr Zelensky, Joe Biden, Biden, ”, Kajsa Ollongren, “, Strategic Communications John Kirby, ’ skillset, Jake Sullivan Organizations: Washington CNN, CNN, Denmark’s Ministry of Defense, Skrydstrup Fighter Base, Dutch Ministry of Defense, Dutch Defense, NATO, National Security, Strategic Communications, Vasco Cotovio, US Air Force, The Air Force, Morris Air National Guard Base, Force, Yahoo, an Air Force, Air Force, Ukraine’s Air Force, American, Russian, National Locations: Ukraine, Denmark, Romania, American, Netherlands, Belgium, Canada, Luxembourg, Norway, Poland, Portugal, Sweden, Fort Sill, Oklahoma, Europe, Tucson , Arizona, Soviet, United States

☆ Stanley Black & Decker's turnaround is in full swing, and we're raising our price target
▼ + stars: | 2023-08-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

With gross margins improving and earnings growth inflecting next year, we're sticking with the stock and looking to add to our position on potential pullbacks. As a result, we're raising our price target to $110 a share, up from $100. Taken together, the company's adjusted gross margins were 23.6%, down from last year's 27.9% rate. That's why we were pleased to see adjusted gross margins expand 50 basis points from the first quarter. This midpoint now factors in a "modestly lower" organic-growth rate, offset by stronger gross margins.

Persons: Stanley Black, Decker, it's, Stanley, Stanley isn't, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, Refinitiv, Stanley, Management, CNBC, Bloomberg, Getty Locations: Emeryville , California

CNN —A judge in Fulton County, Georgia, on Monday rejected efforts by Donald Trump’s legal team to toss evidence in the criminal investigation into the former president’s efforts to overturn the 2020 election in Georgia and to disqualify the district attorney investigating him. Fulton County Superior Court Judge Robert McBurney also rejected efforts by Cathy Latham, who served as one of the GOP fake electors in Georgia, to join Trump’s push. CNN previously reported that Willis is considering bringing racketeering and conspiracy charges in connection with Trump and his allies’ efforts to overturn the 2020 election in Georgia. Trump’s team already raised their arguments before the Georgia Supreme Court, which dismissed Trump’s attempt to shut down the investigation. A hearing on that matter is currently scheduled before another judge on August 10.

Persons: CNN —, Donald Trump’s, Robert McBurney, Cathy Latham, Trump, Latham, ”, McBurney, Fani Willis, Willis, Trump’s, ” McBurney, “, Willis ’ Organizations: CNN, Fulton, Fulton County DA, Trump, CNN Fulton, Georgia Supreme, Attorney Locations: Fulton County , Georgia, Georgia, Fulton County, CNN Fulton County

☆ Trump's legal problems are fueling his political power as he looks to 2024 presidential election
▼ + stars: | 2023-07-31 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

Read CNN’s full report on Trump’s legal bills. A legal defense fund is also being set up to help offset legal costs for Trump’s associates. Read CNN’s report by Kara Scannell and Tierney Sneed on Trump’s legal maneuvers. ‘Rumpelstiltskin’He also alluded in a footnote to how Trump has fanned fury at his legal problems for his own political purposes. Trump’s political fortunes stay brightCNN’s Harry Enten has two very important points in his analysis.

Persons: Donald Trump’s, Joe Biden, Trump, Read, CNN’s Kristen Holmes, Walt Nauta, Carlos De Oliveira, De Oliveira, Nauta, James L, William Hennessy Jr, ”, Evan Perez, Manhattan DA Alvin Bragg, –, Hillary Clinton, Kara Scannell, Tierney Sneed, Fani Willis, “ We’ve, We’re, ” Willis, Willis, Robert McBurney, Trump’s, ‘, ” McBurney, Sara Murray, Jason Morris, Harry Enten, He’s, Ron DeSantis, Biden Organizations: CNN, DC, Republican, PAC, New York Times, Save, FBI, Trump, King, Manhattan DA, GOP, Siena College, Florida Gov, Marquette University Law School, Biden Locations: Coast : New York , Florida, Georgia, Washington, Manhattan, Florida, Fulton County, Lago, Miami, Atlanta, Fulton County , Georgia, Fulton, Pennsylvania

☆ Timing of Medical-Device Recalls Linked to CEO’s Ownership Stake in the Company
▼ + stars: | 2023-07-30 | by ( Suman Bhattacharyya | ) www.wsj.com time to read: 1 min

Journal Reports: LeadershipAs Generative AI Reshapes the Workforce, These Companies May Be Most AffectedBy Betsy MorrisAmong the companies that could gain the most, according to a study: IBM, Nvidia, Microsoft, Verizon and Intuit.

Persons: Betsy Morris Organizations: IBM, Nvidia, Microsoft, Verizon, Intuit

☆ As Generative AI Reshapes the Workforce, These Companies May Be Most Affected
▼ + stars: | 2023-07-30 | by ( Betsy Morris | ) www.wsj.com time to read: 1 min

Journal Reports: LeadershipThe Best-Managed Companies Have the Most AI Jobs Postings. What Explains That? By Rick Wartzman , and Kelly TangIt may be a virtuous circle: The most-effective companies are good at looking ahead, and investing in AI makes them the most-effective companies.

Persons: Rick Wartzman, Kelly Tang

☆ What does Elon Musk's 'Burnt Hair' perfume really smell like? We asked our newsroom to do a blind test of the new fragrance.
▼ + stars: | 2023-07-30 | by ( Lakshmi Varanasi | Sarah Jackson | ) www.businessinsider.com time to read: +6 min

Elon Musk's Boring Company launched a $100 perfume called "Burnt Hair" in October. Last October, he added "perfume salesman" to his list when he began selling a scent called "Burnt Hair" to the world. The unisex fragrance is sold through The Boring Company, where it was originally listed for $100. Upon sniffing Burnt Hair directly from the bottle he concluded that it actually smelled better than most perfumes. "It's pretty gross…It does smell like burnt hair."

Persons: Elon, Elon Musk, Musk, it's, Boring, Madeline Renbarger, Nathan McAlone, Darius Rafieyan, Rafieyan, Taylor Rains, Meghan Morris, Maddie Berg, who'd, Brad Davis, Tim Levin Organizations: Elon Musk's Boring Company, SpaceX, The, Company, Twitter, The Boring Company, eBay, Boring Company, Boring, Aviation, Transportation Locations: Colorado

CNN —Fulton County District Attorney Fani Willis reaffirmed in a local news interview that she will announce charging decisions by September 1 in her investigation into efforts by Donald Trump and his allies to overturn Georgia’s 2020 presidential election result, while applauding the ramped-up security measures around the local courthouse. “The work is accomplished,” Willis told CNN affiliate WXIA at a back-to-school event over the weekend. We’re ready to go.”Willis has previously signaled in letters to local officials and those providing security that she would make any charging announcements between July 31 and the end of August. “I am sending to you in case you are unclear on what I and my staff have come accustomed to over the last 2 ½ years,” Willis wrote in the email to Fulton County officials. In a response to Willis’ email also obtained by CNN, Fulton County Solicitor-General Keith E. Gammage said: “The awful communication that you received is meant to threaten, harass and intimidate, not just you, but all of us.”This story has been updated with additional developments.

Persons: Fani Willis, Donald Trump, Georgia’s, ” Willis, “ We’ve, We’re, Willis ’, Willis, ”, “ I’m, “, Keith E, Gammage Organizations: CNN, WXIA, Trump, Fulton, Atlanta Journal Locations: Fulton County

☆ Class Is in Session. The Teacher? Mark Morris.
▼ + stars: | 2023-07-28 | by ( Alastair Macaulay | More About Alastair Macaulay | ) www.nytimes.com time to read: +2 min

I teach above all to prevent injury and to help everyone work with music.”And is there a Morris style, as there are Graham and Cunningham and Taylor styles? Yes, Morris said: “Everything in my work derives from music. While teaching, Morris walks around the room, giving advice and corrections. In an interview at the Mark Morris Dance Center in Brooklyn in July, he recalled how he used to stretch his arms too straight upward in certain positions. Morris would say, “You only have three joints in your arm.

Persons: Morris, ”, Vaganova, Balanchine, Graham, Cunningham, Taylor, Olive Oyl, Aaron Loux, “, “ Mark, Sam Black, Joyce, Mark Morris Organizations: Mark Morris Dance Center Locations: New York, Seattle, Brooklyn

CNN —Security barricades have been placed outside of the Superior Court of Fulton County in downtown Atlanta, where former President Donald Trump and his allies are being investigated for violating the law in their efforts to overturn the 2020 election. In a written statement, the Fulton County Sheriff’s office says that it is “proactively coordinating with local, state and federal agencies to enhance security during high profile legal proceedings at the Fulton County Courthouse. Fulton County District Attorney Fani Willis, who is spearheading the investigation, announced remote workdays for staff in August and asked judges to reduce in-person hearings, likely out of security concerns. Willis previously alerted local police that possible charges could be announced between July 11 and September 1. The Fulton County Sheriff’s Office, who oversees security at the Superior Court, sent teams to New York and Miami to study the security protocols for Trump’s two previous arraignments this year, CNN has reported.

Persons: Donald Trump, Fani Willis, Willis, Willis ’ Organizations: CNN, Security, Superior, Sheriff’s Locations: Fulton County, Atlanta, Fulton, New York, Miami

☆ Opinion | What’s in a Name? Musk/Twitter Edition
▼ + stars: | 2023-07-27 | by ( Paul Krugman | ) www.nytimes.com time to read: +2 min

Philip Morris renamed itself Altria, presumably in part to diminish its perceived association with lung cancer, but its customers still smoke Marlboros. But absent such good reasons, sensible businesses keep the brand names their customers keep buying. The Twitter logo was also fine — distinctive, instantly recognizable and without any obvious negative connotations. Furthermore, the new logo — a slightly embellished version of the letter X — is problematic in several ways. Many TAFKAT users say that they’re embarrassed by the logo, which makes them feel as if they’re visiting a porn site.

Persons: Philip Morris, It’s, Jemima Organizations: Google, 7Up, PepsiCo, Twitter Locations: America, Ukraine

Still, money market traders are split on the odds of another increase later in the year.FEDWATCH"The 25 basis point rise is a done deal. "The risk is that the Fed, looking at market bullishness, may not want to sound too dovish - they may want to keep the door open for more rate hikes." The MSCI world equity index (.MIWD00000PUS), which tracks shares in 47 countries, was flat. In Hong Kong, the Hang Seng index (.HSI) was down 0.3% and China's blue chip CSI300 index (.CSI300) was off 0.2%. Positive sentiment had returned to China's market on Tuesday, when the CSI 300 Index snapped a six-day losing streak.

Persons: Luca Paolini, Alison Rose, Nigel Farage's, We're, David Chao, Tom Wilson, Scott Murdoch, Jamie Freed, Kim Coghill Organizations: Fed, Federal, Pictet Asset Management, NatWest, BBC, Lloyds, CSI, ECB, Brent, Thomson Locations: SYDNEY, U.S, Germany, France, Britain, CHINA, Asia, Pacific, Japan, Hong Kong, London, Sydney

☆ A mystery buyer paid $875,000 for 11 Hunter Biden paintings
▼ + stars: | 2023-07-25 | by ( Sonam Sheth | Mattathias Schwartz | ) www.businessinsider.com time to read: +4 min

A mystery buyer spent $875,000 on 11 of Hunter Biden's paintings. That's according to internal documents from Biden's art gallery that Insider obtained. Hunter Biden was aware of Hirsh Naftali's identity as well as the identity of another buyer, Kevin Morris, Insider learned. Hunter Biden's counsel told Insider that he became aware of the buyers' identities after their purchases because they were his friends. Hirsh Naftali's role on the commission establishes at least one point at which the worlds of Hunter Biden's art patrons and President Biden's donors overlap.

Persons: Hunter, Biden, Georges Bergès, Joe Biden, Elizabeth Hirsh Naftali, Hunter Biden, Hirsh Naftali's, Kevin Morris, Hunter Biden's, " Hunter Biden, Ian Sams, Nate Freeman, what's, Freeman, Benjamin Godsill, Godsill Organizations: Service, Commission, America's, Biden White, The Washington Post, White Locations: New York, Wall, Silicon, Manhattan

Stocks paying high dividend yields could become "increasingly important" for investors' portfolios, according to Trivariate Research founder and CEO Adam Parker. Energy company Chevron , the largest market-cap company on the list, offers a dividend yield of 3.7%. Almost 50% of analysts covering the stock have either a strong buy or buy rating on shares, according to Refinitiv. Three-quarters of analysts covering the company have either a strong buy or buy rating on shares, per Refinitiv. IBM is another high and steady yielding stock named by Trivariate, with a dividend yield of 4.7%.

Persons: Stocks, Adam Parker ., Morgan Stanley, Parker, Chevron, Philip Morris, Jacek Olczak, — CNBC's Michael Bloom Organizations: Research, Federal, Energy, Chevron, Telecommunications, Verizon, Refinitiv, IBM Locations: FactSet

☆ Gas prices just saw their biggest one-day increase in a year
▼ + stars: | 2023-07-25 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —The monthslong calm in gas prices is over. However, gas prices are much lower today than they were last summer, when they spiked above $5 a gallon. David Paul Morris/Bloomberg/Getty ImagesAs recently as July 4, gas prices had experienced a nearly unprecedented year-over-year decline. The unwelcome shift higher in pump prices follows a jump in oil prices, which have climbed to three-month highs as part of a broader rally in commodities. Cooling inflation, driven in part by easing gas prices, has raised hopes that the United States can avoid a recession.

Persons: ”, Andy Lipow, David Paul Morris, Lipow, ” Lipow Organizations: New, New York CNN, AAA, CNN, Lipow Oil Associates, Bloomberg, Getty, Federal Reserve, OPEC Locations: New York, Ukraine, United States, Russia, Saudi Arabia, OPEC, Europe

☆ Nearly 4 in 5 US companies have posted second-quarter earnings that beat Wall Street estimates
▼ + stars: | 2023-07-25 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

As of Monday, 87 companies had reported their Q2 earnings – 78% of which beat analysts' expectations. Some of the biggest names to beat the Street this quarter are Tesla, Bank of America, and Philip Morris. The good news: 78% percent of them beat estimates, by an average 6.2%. Among the biggest names, Tesla reported a 20% earnings jump to 91 cents per share, surpassing analysts' estimate for 82. While earnings estimates have, for most companies, beaten targets, Fidelity's Timmer warns investors not to get carried away.

Persons: Philip Morris, It's, Jurrien, Jurrien Timmer, Timmer, Tesla, Goldman Sachs Organizations: Bank of America, Fidelity, Service, Microsoft, Fidelity Investments, Meta Locations: Wall, Silicon

☆ The US is in a 'Barbie-type' market at the moment: financial services firm
▼ + stars: | 2023-07-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe US is in a 'Barbie-type' market at the moment: financial services firmGeorge Ball of Sanders Morris Harris explains his bullish call for the S&P 500.

Persons: George Ball, Sanders Morris Harris

☆ Beond: the new Maldives airline that's all business class
▼ + stars: | 2023-07-24 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +9 min

BeondAbout three dozen airlines currently offer service to Velana International Airport, the Maldives’ main airport near the capital island Malé. “The Maldives is one of those markets that can fill an aircraft, even a mostly economy class cabin,” says Feuerherd. However all-business class airlines have used narrow-bodies before. There are no direct flights from Delhi, but carriers including Air India have business class seats from around $750 with a single connection. “There probably is a niche to carve out of premium travelers who want more of a private jet experience, but maybe don’t have the private jet budget.”

Persons: CNN —, –, ”, Sascha Feuerherd, “, Beond, “ We’re, they’d, Arabesque, coy, Feuerherd, it’s, Matteo Colombo, Rob Morris, ” Mike Stengel Organizations: CNN, Ferrari, Airbus, Velana International, Emirates, Qatar Airways, Turkish Airlines, Beond, Perth, Boeing, La Compagnie, British Airways, Etihad, Oman Air, Air India, – Locations: Maldives, India, ”, Malé, Dubai, Delhi, Germany, Frankfurt, Munich, Asia, UAE, Maldivian, Europe, Japan, South Korea, China, Australia, South Africa, Cape Town, La, French, Paris, New York, London, Oman, Emirates, Cirium, – Dubai, Qatar

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