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☆ iPhone 14 Pro Max tops global smartphone shipments as people shun budget phones for top-end devices
▼ + stars: | 2023-08-28 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

In the January-to-June period, Apple's iPhone 14 Pro Max shipped 26.5 million units — the most out of any model from any manufacturer — compared with 21 million unit shipments for the iPhone 14 Pro. That's according to Omdia's "Smartphone Model Market Tracker - 2Q23" report, which tracks sales of different models of phone. Apple accounted for all four of the top-shipping models, with the iPhone 14 coming in third on 16.5 million units, and the iPhone 13 selling 15.5 million units. This year, the iPhone 14 Pro Max, the most expensive of the Cupertino, California, tech giant's smartphone array, has taken the crown. Sky-high prices north of $1,000 attached to the top-end phones from companies like Apple, Samsung and Xiaomi have also put people off buying flagship phones more generally.

Persons: Max, That's Organizations: Max, Apple, Samsung Locations: Cupertino , California

☆ The word 'ESG' is vanishing from earnings calls. Here's what companies are pitching instead
▼ + stars: | 2023-08-26 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

But Mahaffy's research found that it is not necessarily because companies have leaned away from socially conscious strategies. Instead, she pointed a growing use of the term "sustainability," as well as other words like "climate" or "decarbonization" that fall under the ESG umbrella. It comes at a time when ESG has become increasingly fraught in the political sphere. Mahaffry noted that areas like the U.S. where ESG has received the most scrutiny have seen the biggest drops in use of the term on earnings calls. On WestRock's earnings call earlier this month, Sewell told listeners: "This is just one example of many of how WestRock's unique capabilities position us for growth."

Persons: —, Sara Mahaffy, ESG, it's, Williams, Alan Armstrong, Peter Vanacker, David Gitlin, Marvin Ellison, Joseph Dominguez, Dominguez, Robert Venkat Pragada, Whitney, REI, Satya Nadella, David Sewell, Sewell, Michael Bloom Organizations: RBC Capital, LyondellBasell Industries, Carrier, Constellation Energy, Engineering, Jacobs Solutions, Pratt, Microsoft, Sustainability, Costco Locations: U.S, ESG

☆ Mark Zuckerberg’s new return-to-office mandate is a clear problem, says Harvard expert: It’ll cause a ‘huge amount of distrust’
▼ + stars: | 2023-08-25 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

The latest twist in Meta's return-to-office saga doesn't reflect well on CEO Mark Zuckerberg, says a Harvard University expert. Meta established a widely encompassing remote-work policy in 2021, before announcing its intention to move toward a hybrid schedule in June. Employees can still apply for full-time remote status, the memo noted. "Leaders must make sure that they're practicing transparency, and that their actions match their words," Gardner says. "Establishing trustworthiness is an essential part of being a leader, and it takes empathy to create that trust."

Persons: Mark Zuckerberg, it's, Heidi K, Gardner, Meta Organizations: Harvard University, Meta, Employees, Harvard Law School, CNBC

☆ Here are the 8 trades and 3 price-target changes we made during a busy week
▼ + stars: | 2023-08-25 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

Monday Monday proved to be a harbinger for the rest of the week, beginning with purchases of GE Healthcare (GEHC) and Stanley Black & Decker (SWK). GE Healthcare and Stanley Black & Decker appeared especially attractive, leading us to buy 100 shares and 150 shares, respectively. For GEHC, we wanted to take advantage of what we believe was an unwarranted decline in the medical technology company's stock price. Our purchase of Starbucks represents another buying-into-post-earnings-weakness situation, as we did with Microsoft and Stanley Black & Decker earlier in the week. That's why on Thursday we took our Nvidia price target to $600 per share from $450, implying roughly 27% upside.

Persons: Jerome Powell's Jackson, Here's, Stanley Black, Decker, SWK, Nikesh Arora, Jim Cramer, that's, Locker, Locker's, —, Jim Cramer's, Jim, Angela Weiss Organizations: Federal, GE Healthcare, Microsoft, Palo Alto Networks, Big Tech, Amazon, Starbucks, Broadcom, Devices, Nvidia, Charitable, AMD, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Danaher, New York City

☆ Investors make a case for standing by Nvidia after another blowout report
▼ + stars: | 2023-08-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

The results boosted shares of Nvidia as much as 8%. Justifying the valuation After a more than 232% jump in 2023, Nvidia shares are on pace for their third best year on record and best yearly stretch since 2001. Opening and building positions Despite the blowout report, Nvidia gave up some of its gains, while its beneficiaries and competitors slumped into negative territory. Even so, the moves boosted his case for beefing up his position in Nvidia and other AI plays. Cerity Partners' Jim Lebenthal revealed to CNBC's "Halftime Report" on Thursday that he initiated a position in Nvidia earlier this week to get a "toehold before earnings."

Persons: Josh Brown, CNBC's, Nancy Tengler, Paul Meeks, Ken Mahoney, Jerome Powell's, Meeks, Cerity, Jim Lebenthal Organizations: Nvidia, Devices, Marvell Technology, Micro Computer, Taiwan Semiconductor Manufacturing, Laffer, Investments, Independent Solutions Wealth Management, Asset Management, Apple, Federal, Computer, AMD, Cerity Partners Locations: Jackson Hole , Wyoming

☆ Ford F-150 drivers say their vehicle speakers are making weird noises that sound like a 'static boom,' as the carmaker promises to fix the issue
▼ + stars: | 2023-08-24 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Ford F-150 drivers say they're hearing mysterious crackling noises from the truck's speakers. AdvertisementAdvertisementDrivers of Ford's F-150 pickup trucks say they're facing loud bursts of static and sudden noises over their speakers, according to a report from The Wall Street Journal. A Ford spokesperson confirmed that around 100 complaints have been made to the National Highway Traffic Safety Administration (NHTSA) about the mysterious noises. A spokeswoman for Ford told the newspaper that the company is "working swiftly" to resolve the problem. Meanwhile, Ford has cut prices of its electric F-150 Lightning as demand for electric vehicles cools and competition increases.

Persons: Ford, Phil Floraday, must've, Jim Farley, Farley, Tesla, Elon Musk Organizations: Ford, Morning, Wall Street, National, Traffic Safety Administration, Expedition, Lightning

☆ Nvidia's blowout earnings report is boosting this single-stock ETF
▼ + stars: | 2023-08-24 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

A blowout earnings report for Nvidia is rewarding the chipmaker's shareholders once again and delivering even bigger returns for traders who use a red-hot leveraged ETF. And the GraniteShares 1.5x Long NVDA Daily ETF (NVDL) jumped 3.5%, continuing a banner year for the single-stock ETF. NVDL 1D mountain The GraniteShares NVDL ETF has soared this year as the excitement around artificial intelligence has boosted Nvidia's stock. GraniteShares launched four more funds in the single-stock category this week, including the 1.5x Short NVDA Daily ETF (NVD) and the 1.5x Short TSLA Daily ETF (TSDD). Single-stock funds also tend to have higher expense ratios than broader funds that are not leveraged.

Persons: Will Rhind, Rhind, GraniteShares, NVDL Organizations: Nvidia, Securities and Exchange Commission, Daily Semiconductor Locations: U.S

☆ Stocks making the biggest moves midday: Nvidia, Peloton, Foot Locker, Dick's Sporting Goods and more
▼ + stars: | 2023-08-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nvidia has been one of the biggest winners on the back of the AI boom with shares rising nearly 220% this year. Peloton reported a loss of 68 cents per share, versus the 38-cent loss per share expected by analysts polled by Refinitiv. Foot Locker — The athletic retailer plunged 33% after cutting its outlook again for the year and suspending its quarterly dividend. Advanced Auto Parts — Advance Auto Parts rose 1% after beating analysts' revenue expectations for its second quarter. The auto retail company reported revenue of $2.69 billion, greater than the consensus estimate of $2.66 billion, according to Refinitiv.

Persons: Locker, Fitch, Abercrombie, Charles Schwab —, Schwab, Oppenheimer, Brown, Forman —, Morgan Stanley, Avery Dennison, Davidson, Safehold, Goldman Sachs, Goldman, it's, Shane O'Kelly, — CNBC's Hakyung Kim, Samantha Subin, Yun Li, Sarah Min, Jesse Pound Organizations: Nvidia, Refinitiv . Revenue, Dick's, Goods, Abercrombie, Pharmaceuticals, Nike —, Urban Outfitters, Refinitiv, Revenue, Netflix, Bank of America, UBS, DA, Marvell Technology, Susquehanna Locations: Louisiana, Pacific

☆ Piper Sandler's Harsh Kumar expects Nvidia to deliver on data center, which he says is the most important
▼ + stars: | 2023-08-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPiper Sandler's Harsh Kumar expects Nvidia to deliver on data center, which he says is the most importantCNBC’s Kristina Partsinevelos and Piper Sandler’s Harsh Kumar join 'Power Lunch' to discuss Nvidia ahead of the semiconductor giant's quarterly earnings report.

Persons: Piper, Harsh Kumar, Kristina Partsinevelos, Piper Sandler’s Harsh Kumar Organizations: Nvidia

☆ Foot Locker shares plunge 30% as it slashes guidance and blames 'consumer softness'
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

The dismal quarter prompted Foot Locker to lower its forecast again – just five months after introducing it. Those heavy markdowns have weighed on Foot Locker's margins, which dropped 4.6 percentage points compared with the year-ago period. Shrink, a retail industry term that refers to merchandise lost by theft, damage or other means, also weighed on profits, Foot Locker said. It didn't disclose how much shrink cut into its margins compared with promotions. But Foot Locker has been trying to reduce its reliance on Nike and balance its vendor mix.

Persons: Locker, Foot, Mary Dillon, Foot Locker Organizations: Refinitiv, Nike

☆ Google's Achilles' heel: The tech giant's struggles in augmented reality highlight a much bigger weakness
▼ + stars: | 2023-08-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

But the tech giant's struggles in AR highlight a bigger weakness at the company: hardware. The tech giant has struggled to gain momentum in the mixed-reality sector despite numerous efforts, Insider's Hugh Langley reports. AdvertisementAdvertisementFrom Iris to Alius to Betty, Google's code-named AR projects rival a millennial parent's baby-name list. But in the world of AR, hardware is the most critical piece of the puzzle. Of course, the tech giant might argue it has bigger fish to fry.

Persons: It's, Insider's Hugh Langley, Alius, Betty, Hugh, —, Google's, it's Organizations: Google, — Apple, Apple Vision, Samsung, Meta Locations: Google's

☆ Morning Bid: 'Flash' business funk and AI buzz
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +4 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. Euro zone government bond yields and the euro tumbled as traders bet the European Central Bank may soon pause its interest-rate hike campaign, with money markets now pricing less than a 50% chance of further tightening. The dollar (.DXY) hit its highest since early June as both the euro and sterling took a hit. Existing home sales dropped to a six-month low in July, with new home sales numbers due later today. European and Japanese shares were up smartly too, but mainland Chinese stocks (.CSI300) underperformed yet again and dropped another 1%-plus.

Persons: Mike Segar, Mike Dolan, Wednesday's, John Stonestreet Organizations: Wall, New York Stock Exchange, REUTERS, Micron Technology, European Central Bank, Treasury, Federal, Jackson, Nvidia, Apple, Microsoft, Devices, Autodesk, Advance, Thomson, Reuters Locations: Manhattan, New York City , New York, U.S, Europe, Philadelphia, United States, Johannesburg

☆ 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

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Dick's, Meta, Amazon, Charles Schwab & more
▼ + stars: | 2023-08-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche said it sees an even "more" attractive risk/reward for Schwab shares after Tuesday's sell-off. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday.

Persons: Charles Schwab, Schwab, SCHW, Wells Fargo, Wells, Morgan Stanley, Apple, Oppenheimer, Brown, Forman, GM headwinds, Edward Jones, DUK, Avery Dennison, Davidson, Goldman Sachs, Goldman, Susquehanna, Marvell Organizations: Deutsche Bank, Deutsche, Signet, Netflix, GM, Edward, Bank of America, Meta, Barclays, Duke Energy, JPMorgan, UBS, " Bank of America, Infosys, India IT, Marvell Locations: AAPL, 4Q23, Louisiana, Pacific, LPX, India

☆ Nike falls for record 10th straight day as Foot Locker woes, China slowdown hit stock
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Nike's stock tumbled Wednesday for the 10th day in a row after Foot Locker reported dismal quarterly results and consumers continue to pull back from the footwear sector. "This became much more evident through the second quarter including a weaker start to back to school. The store traffic and conversion challenges we began to see in late Q1 persisted through the second quarter as our customer remained cautious with their discretionary dollars," she said. China's uneven recovery could also be weighing on Nike's stock. However, it's unclear if that growth is continuing and what the results will look like when Nike next reports earnings.

Persons: Foot Locker, We've, Rick Patel, Raymond James, There's, We're, Foot, Patel, Locker, Mary Dillon, John Donahoe Organizations: Nike, CNBC, Dick's Sporting Goods, StreetAccount Locations: U.S, China

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices -dataBuoyant heating oil lifts crude prices -analystChinese economy and US rate risk continues to weighLONDON, Aug 21 (Reuters) - Oil prices edged higher on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth. Brent crude was up 52 cents to $85.32 a barrel at 1348 GMT and U.S. West Texas Intermediate crude was up 65 cents at $81.90. A weaker dollar makes oil purchases less expensive for holders of other currencies, potentially boosting demand. Another bullish factor is the high price of heating oil, which is in focus as the northern hemisphere approaches darker months, said John Evans of oil broker PVM. However, what is like trying to hit a "flying insect with a bazooka" is determining whether the buoyant heating oil market is enough to rally the oil complex or just hold it in the face of broader macroeconomic concerns, he said.

Persons: Lucy Nicholson, Brent, Warren Patterson, ING's, John Evans, Natalie Grover, Paul Carsten, Florence, Mohi Narayan, David Goodman, Mark Potter Organizations: REUTERS, . West Texas, of, Petroleum, Thomson Locations: Bakersfield , California, China, Saudi Arabia, Russia, OPEC, Saudi, London, Florence Tan, Singapore, New Delhi

☆ Oil up 1% on tighter supplies and heating oil prices
▼ + stars: | 2023-08-21 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices -dataBuoyant heating oil lifts crude prices -analystChinese economy and US rate risk continues to weighLONDON, Aug 21 (Reuters) - Oil prices rose more than 1% on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concern over global demand growth. A weaker dollar makes oil purchases less expensive for holders of other currencies, potentially boosting demand. Another bullish factor is the high price of heating oil, which is in focus as the northern hemisphere approaches darker months, said John Evans of oil broker PVM. However, what is like trying to hit a "flying insect with a bazooka" is determining whether the buoyant heating oil market is enough to rally the oil complex or just hold it in the face of broader macroeconomic concerns, he said. "Unless there's a recession and demand slows or drops, OPEC+ is in control," said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore.

Persons: Lucy Nicholson, Brent, Warren Patterson, ING's, John Evans, Stefano Grasso, Natalie Grover, Paul Carsten, Florence, Mohi Narayan, David Goodman Organizations: REUTERS, . West Texas, of, Petroleum, Thomson Locations: Bakersfield , California, China, Saudi Arabia, Russia, OPEC, Saudi, 8VantEdge, Singapore, London, Florence Tan, New Delhi

☆ Oil edges up on tighter supplies, heating oil prices
▼ + stars: | 2023-08-21 | by ( Natalie Grover | ) www.reuters.com time to read: +3 min

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices - dataBouyant price of heating oil lifts crude prices - analystChina economic sentiment, US rate hike risk continues to weighLONDON, Aug 21 (Reuters) - Oil prices edged higher on Monday as tighter supply reflected in fewer exports from Saudi Arabia and Russia and high heating oil prices outweighed concerns about global demand growth amid high interest rates. The September WTI contract expires on Tuesday and the more active October contract gained 78 cents to $81.44 a barrel. As well, "the dollar seems to be taking somewhat of a breather, which would be providing some support," he said. A weaker dollar makes oil purchases less expensive for holders of other currencies, sparking demand. Also supporting crude is the buoyant price of heating oil, which is in focus as the northern hemisphere approaches darker months, said John Evans of oil broker PVM.

Persons: Lucy Nicholson, Brent, Warren Patterson, ING's, John Evans, Stefano Grasso, Natalie Grover, Florence, Mohi Narayan, Shri Navaratnam, Tom Hogue Organizations: REUTERS, U.S, West Texas, Organization of, Petroleum, Thomson Locations: Bakersfield , California, China, Saudi Arabia, Russia, OPEC, Saudi, 8VantEdge, Singapore, London, Florence Tan, New Delhi

☆ Oil prices climb on expectations of lower OPEC+ exports in August
▼ + stars: | 2023-08-21 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsSummary China draws on record inventories amid high prices -analystsRussia remains China's top crude supplier in July -dataChina's July diesel exports surge -dataSINGAPORE, Aug 21 (Reuters) - Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates. The September WTI contract expires on Tuesday and the more active October contract gained 73 cents to $81.39 a barrel. Supply is tightening, however, with OPEC+ crude exports set to fall a second month in August, said Stefano Grasso, a senior portfolio manager at 8VantEdge in Singapore, citing preliminary data from shiptracking firm Kpler. "Unless there is a recession and demand slows or drops, OPEC+ is in control." Meanwhile, Chinese refiners ramped up refined products exports in July, drawn by strong export margins.

Persons: Lucy Nicholson, Brent, Stefano Grasso, " Grasso, Baker Hughes, Florence Tan, Shri Navaratnam, Tom Hogue Organizations: REUTERS, U.S, West Texas, U.S ., Organization of, Petroleum, Thomson Locations: Bakersfield , California, China, Russia, SINGAPORE, Saudi Arabia, 8VantEdge, Singapore, OPEC, Saudi, United States

☆ Amazon's 'Thursday Night Football' is winning over advertisers after a bumpy launch year, and a top exec says it will be 'aggressive' in pursuing more live sports
▼ + stars: | 2023-08-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

The tech giant is gearing up for a big 'Thursday Night Football' season with key matchups and new ad offerings. After hitting some snags with its inaugural NFL "Thursday Night Football" season on Prime Video last year, Amazon is bringing plenty of swagger to the field this year. Amazon is getting more TV ad dollars this year as the twin Hollywood strikes rage on, a top exec said. Amazon last year had also softened on its initial ask that advertisers buy the entire season's games and gave them the option to buy a portion of the games. Some advertisers were forgiving, though, given it was Amazon's first go at a live sports broadcast.

Persons: It's, Jay, Amazon's, We're, Al Michaels, Kaylee Hartung, NFL's, haven't, Kelly Metz, Marine, We'll, we'll Organizations: NFL, Football, Minnesota Vikings, Philadelphia Eagles, Toyota, Fox, ESPN, Amazon, Marine, Omnicom Media

☆ Oil prices flat as rates anxiety, China gloom offset tighter supply
▼ + stars: | 2023-08-21 | by ( ) www.cnbc.com time to read: +2 min

Oil well pump jacks operated by Chevron Corp. in San Ardo, California, U.S., on Tuesday, April 27, 2021. Oil prices were steady on Monday with Brent staying above $80 a barrel, as investors balanced tightening supply driven by OPEC+ cuts with nagging concerns about global demand growth amid high interest rates. Brent crude dipped 8 cents to $84.72 a barrel by 0033 GMT while U.S. West Texas Intermediate crude was at $81.28 a barrel, up 3 cents. The September WTI contract expires on Tuesday and the more active October contract eased 3 cents to $80.63 a barrel. China's renewed economic weakness has raised questions over whether its oil demand can remain resilient, they said.

Persons: Brent, China's, Baker Hughes Organizations: Chevron Corp, Brent, West Texas, U.S ., ANZ, Organization of, Petroleum Locations: San Ardo , California, U.S, Russia, OPEC, Saudi, China

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ Amazon is expanding its own shipping service that directly competes with FedEx and UPS, email invite shows
▼ + stars: | 2023-08-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

Amazon is inviting sellers to use its own in-house shipping service, called Amazon Shipping. Amazon is significantly expanding its own shipping service that competes with FedEx and UPS. Earlier this week, Amazon invited some sellers to use Amazon Shipping, its own in-house delivery service, according to an email invite seen by Insider. If the merchant used Amazon's fulfillment service, Amazon would decide which delivery service their packages would go through, whether it's UPS or Amazon's own shipping service. However, with Amazon Shipping, sellers now have the choice to use Amazon Shipping directly, even if they are shipping from their own warehouse.

Persons: It's, Pitney Bowes, That's, Olivia Connors Organizations: Amazon, Amazon Shipping, FedEx, UPS, US Postal Service, Pitney, Amazon's, eBay, Bloomberg Locations: United States, France, Italy, Spain, India, Los Angeles, London

☆ Here's a rapid-fire update on all 36 stocks in the Club's portfolio, including 2 recent buys
▼ + stars: | 2023-08-17 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 36 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Apple remains an "own it, don't trade it" stock, Jim said. Halliburton (HAL): Given we just added a new stock to the portfolio, Jim said Halliburton may be the stock we look to cut ties with. The lesson with P & G is that, sometimes, there's nothing to do but hold a stock, Jim said. Stanley Black & Decker (SWK): The maker of DeWalt and Craftsman tools is one of the best bargains in our portfolio, Jim said.

Persons: Jim Cramer's, Jim, it's, We're, —, he's, he'll, we're, Dupont, Walt Disney, Estee Lauder, Locker, Mary Dillon's, Halliburton, Humana, Humana's, Linde, Eli Lilly, there's, Mark Zuckerberg's, Jim said, Morgan Stanley, James Gorman, Nikesh Arora, Elliott Management's, Elliott, Stanley Black, Decker, It's, Wells Fargo, Wells, Charlie Scharf —, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon, Federal, Bausch Health, Caterpillar, Costco, Coterra Energy, DuPont de Nemours, Comcast, Emerson, Emerson Electric, Ford, United Auto Workers, GE HealthCare Technologies, Big Tech, NFL, Halliburton, HAL, Texas, Honeywell International, Honeywell, Linde, LIN, Facebook, Reality Labs, Microsoft, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, TJX, Goods, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: Bausch, China, Hulu, NBCUniversal, Palo, Macao

☆ China's Tencent posts smaller than expected revenue growth; gaming falls short
▼ + stars: | 2023-08-16 | by ( Josh Ye | ) www.reuters.com time to read: +2 min

The world's largest video game company and operator of the WeChat messaging platform said revenue reached 149.20 billion yuan ($20.45 billion) for the three months ended June 30. That compared with the 151.73 billion yuan average of 21 analyst estimates compiled by Refinitiv. Domestic gaming revenue stayed mostly flat at 31.8 billion yuan, while international gaming revenue rose 12% to 12.7 billion yuan, excluding the impact of currency movements. It grew 34% to 25 billion yuan as its TikTok-like short video service Video Accounts experienced increased demand. Revenue from fintech and business services grew 15% to 48.6 billion yuan which the company said reflected expansion in both offline and online payment activities.

Persons: David Kirton, HONG KONG, Tencent, Shawn Yang, Josh Ye, Himani Sarkar, Raju Gopalakrishnan Organizations: REUTERS, Tencent Holdings, HK, Refinitiv, Blue Lotus Capital Advisors, Inc, Thomson Locations: Nanshan district, Shenzhen, Guangdong province, China, HONG, fintech

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