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☆ Amazon CEO Andy Jassy needs to take a page out of Mark Zuckerberg's cost-cutting playbook at Meta
▼ + stars: | 2023-04-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +9 min

Andy Jassy, CEO of Club holding Amazon (AMZN), said Thursday he's committed to investing in overall growth while creating cost efficiencies throughout the enterprise. Jim has said that Amazon needs to cut another 200,000 jobs or more to even approach pre-pandemic staffing of around 798,000 in Q4 of 2019. For example, Amazon has stopped physical store expansion, shuttered Amazon Care and Amazon Fabric, and it's letting go of devices that won't provide solid returns. Jassy also addressed Amazon's stock price during CNBC's interview. AMZN .SPX mountain 2020-04-09 Amazon vs. S & P 500 since April 2020 Bottom line Amazon needs to make additional moves to further reduce its headcount.

☆ Dealmaker Raine Group bucks the M&A blues
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters Breakingviews) - Amid a dealmaking drought, The Raine Group’s rainmakers are creating some flow themselves. And now it has unveiled an acquisition of its own, buying Code Advisors, a technology-focused boutique M&A firm co-founded by former CBS executives Quincy Smith and Michael Marquez. It is the first purchase for Raine since it was co-founded by a group including Joe Ravitch and Brandon Gardner in 2009 in the aftermath of the last big downturn. Since then, Raine has ballooned to 170 people with about 20 partners advising on transactions such as last year’s 4.25 billion pound ($5.3 billion) sale of Chelsea Football Club. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ 'The numbers need to come down,' bears say ahead of the next round of earnings reports
▼ + stars: | 2023-04-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Earnings season does not start until April 14, when the big banks begin reporting, but already the bears are saying expectations are too high. One of the issues that drives bears crazy is the refusal of analysts to slash earnings estimates for 2023. This is exactly what happened during the big selloff that culminated in the drop in the S & P in October of last year. These estimates from analysts are known as "bottoms-up" estimates, because the estimates come from an analysis of individual companies. I'll get into this more as we get closer to earnings season, but here's an example from Wolfe Research's Chris Senyek.

☆ Top tech analyst Mark Mahaney has a new top pick
▼ + stars: | 2023-03-09 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Evercore ISI's Mark Mahaney has a new top pick, and it's one of last year's biggest losers: Meta Platforms . In addition, he expects Meta shares can jump 48% from Wednesday's close to his $275 price target. META 1Y mountain Meta shares 1-year Meta is outperforming this year after lagging the market and its Big Tech brethren last year. Mahaney expects investors are in search of quality names after the carnage in tech stocks last year. Of those tech stocks that have soared more than 50% in 2023, Mahaney identified Meta is a high quality name.

☆ Elizabeth Warren leads cavalry into deal battles
▼ + stars: | 2023-03-07 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

It would be the third curious regulatory intervention in recent weeks, each encouraged by Democratic Senator Elizabeth Warren. In a September letter to Transportation Secretary Pete Buttigieg, Warren argued that the DOT should use its own tools, specifically in the Spirit situation. UnitedHealth (UNH.N) beat back a federal lawsuit against its plan to buy Change Healthcare; Facebook owner Meta Platforms (META.O) shrugged off an FTC attempt to stop its purchase of fitness app developer Within. JetBlue says it built time for a lawsuit into the Spirit merger agreement. As the senator charges up the competition cavalry, dealmakers may have to redraw their battle plans.

☆ Happy New Year! In 2023 kick out Trump, Elon Musk, Kanye and Depp
▼ + stars: | 2023-01-01 | by ( Lynn Stuart Parramore | Lynn Stuart Parramore Is A Cultural Historian Who Studies The Intersection Of Culture | Psychology | ) www.nbcnews.com time to read: +9 min

Though in far different fields, men like Ye (formerly known as Kanye West), Elon Musk, Donald Trump, Johnny Depp and Sam Bankman-Fried will forever be linked by this ignominious characteristic. Over the past 12 interminable months, America has witnessed the rantings of Hitler-loving Ye; Musk’s edgelord trolling on his new plaything, Twitter; Depp and his toxic TikTok fanboys; and Trump being Trump on any given day. While seemingly not vain like Ye or Depp or openly thuggish like Trump and Musk, he nonetheless exhibits traits that point to something sinister behind the “just-a-regular-dude” persona. Trump seems to be losing ground, and Republicans on the House Judiciary Committee finally took down their “Kanye. Musk asked Twitter users whether he should step down as CEO, and they voted “yes.”Unfortunately, until we address roots causes, there will always be another blustering bully, another Trump, another Ye.

☆ Strategists are struggling to figure out what stocks will do in 2023
▼ + stars: | 2022-12-29 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The big sport everyone follows is the 2023 year-end price estimates for the S & P 500 . Strategist estimates for 2023 are all over the map Strategists, not surprisingly, remain a fairly bullish lot. The same survey of strategists indicated earnings estimates for 2023 varied widely, but most expect earnings will be lower. The average of strategists think 2023 will see earnings at $210, a drop of 4.5%. Collectively, analysts see 2023 S & P 500 earnings at $230, a gain of 4.5%.

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☆ The Best Banks for Small Business
▼ + stars: | 2022-12-27 | by ( ) www.wsj.com time to read: +15 min

To find the best business banks, we evaluated two dozen of the biggest institutions, looking for accounts that are easy to use, with low or no fees, and that don’t require large balances. Amex is one of relatively few banks that offers a competitive interest rate on its business checking account, with a current APY of 1.3% on balances up to $500,000. If you’re on the lookout for a new business credit card, the American Express Business Gold Card is Buy Side’s pick for Best Business Credit Card. How we pickedTo pick Buy Side from WSJ’s Best Banks for Small Business, we evaluated small-business checking accounts offered by two dozen traditional and digital banking institutions. We looked for business checking accounts that offered the best combination of convenience, low fees and features that make running a business easier, like integration with other business technology platforms and the availability of (or ability to connect with) payment processing systems.

☆ Why North Korea’s missile tests are going higher and further
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +14 min

North Korea missiles Stronger, faster, higher North Korea has made steady progress in expanding its missile programme, developing weapons that can strike across the globe - or hit critical targets closer to home. North Korea has forged ahead in developing ballistic missiles, testing new capabilities, honing existing weapons and putting them into service. Like most North Korean long-range ballistic missile tests, both ICBMs were fired on lofted trajectories. Trajectories of some of North Korea’s long-range missile testsNuclear warheads South Korea and the United States have warned since early 2022 that North Korea may resume nuclear testing for the first time since 2017. Same missiles, different locationsAmong North Korea's ballistic missiles, SRBMs appear to be the most likely to be deployed, Panda said.

☆ Consumer Reports: Best Wireless Multiroom Speakers of 2022
▼ + stars: | 2022-12-09 | by ( Allen St. John | Consumer Reports | ) www.nbcnews.com time to read: +11 min

You can buy a wireless multiroom speaker system with great performance and unprecedented flexibility for surprisingly little money. Our top-rated multiroom speakers offer not only solid sound but also impressive flexibility. The following are some of the top multiroom speakers in CR’s ratings. The Studio can be integrated into a multiroom system with other Amazon Echo speakers. The Sonos One can also integrate with the company’s wireless models, adding smart speaker functionality to an existing Sonos system.

☆ It's been a bad year for tech. But top investor Paul Meeks is betting on these bright spots
▼ + stars: | 2022-12-01 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

E-commerce Meeks is avoiding the e-commerce space altogether, citing concerns about "lackluster" online Christmas spending in the United States and the return of Covid shutdowns in China. Among the world's major e-commerce stocks, Meeks said he prefers JD.com to Alibaba and Amazon , though he suggested that "investors wait to buy any of them." Cyber stocks Cyber stocks, like nearly everything else in the broader tech sector, haven't been spared from this year's tech rout. The First Trust Nasdaq Cybersecurity ETF (CIBR) and the iShares Cybersecurity and Tech ETF (IHAK) are both down by about 22% this year, less than the Nasdaq's 30% drop. The semiconductor sector has, however, recovered slightly, with the SOX up 14.9% since the end of the third quarter.

☆ Tech Selloff Catches Up With Private Startups
▼ + stars: | 2022-11-29 | by ( Julie Steinberg | Ben Dummett | ) www.wsj.com time to read: 1 min

Tech startups are plunging in value in private trades, mirroring the big markdowns of their publicly listed brethren over the past year. Before companies go public, their shares are often traded by employees, founders and institutions in secondary deals. The trades allow existing holders to cash out before a startup goes public, and buyers to make new investments or add to existing holdings.

☆ I Finally Found a Hat That Fits Over a Bun, Top-Knot or Updo
▼ + stars: | 2022-11-27 | by ( ) www.wsj.com time to read: +3 min

When I started wearing my hair in a bun virtually every day, I discovered that wearing a sun hat became…a real pain in the buns. Suddenly, the bucket hat styles that I’d loved for years either didn’t stay on my bun-topped head or looked rather ridiculous—like a lumpy Cat in the Hat. The North Face hat is made for outdoor adventures, fabricated from a durable, quick-dry recycled nylon with a perfectly-angled bucket brim with some oomph to it. The North Face name and logo comes embroidered boldly and noticeably smack-dab on the forehead, which was a little too much for me. Once I started wearing it all the time, in my Brooklyn neighborhood, I realized it was more an object of envy than ridicule.

☆ 'I've grown up,' far-rightist tells Israelis worried about his rise
▼ + stars: | 2022-11-07 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

[1/2] Jewish Power party leader Itamar Ben-Gvir speaks following the announcement of exit polls in Israel's general election, at his party headquarters in Jerusalem November 2, 2022. Having won an election last week, conservative former prime minister Benjamin Netanyahu's most powerful likely coalition ally is Religious Zionism, a party led by ultranationalist Jewish settlers in the occupied West Bank. "I've grown up, I've moderated and I've come to understand that life is more complicated," Ben-Gvir, 46, said in a front-page article in the biggest-circulation Israel Hayom newspaper. He said security services had "used irresponsible manipulation, which to this day has not been fully exposed, to encourage the murderer". Religious Zionism, like other Israeli parties on the right, opposes Palestinian statehood.

☆ There are more signs that a revaluation of growth stocks is underway
▼ + stars: | 2022-10-31 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

It is the value player's dream: A revaluation of growth stocks. As a result, money in October has been moving into financials, materials, industrials, energy and even small caps. Investors have noticed this deceleration in earnings for growth sectors and have been buying classic "value" sectors like energy, industrials and health care this month. Third-quarter arnings growth for tech names is down a modest 1.2% and is only projected down 3.3% for the fourth quarter. Krinsky wasn't alone in his caution about earnings estimates.

☆ Is Exxon the new 'FANG'? The value rotation is starting to look more real
▼ + stars: | 2022-10-28 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Value buyers have been waiting for a sustainable rally for so long, many have moved on to other quests. "Exxon is the new FANG," has been a quip on trading desks for the past few weeks. As the year has gone on, the direction of earnings growth has decelerated for big-cap tech — in some cases dramatically. "2022's pandemic era earnings growth rates are proving to be unsustainable, so markets are revising their estimate of fair value for these stocks," he said. True, all are seeing earnings growth, just not as fast as expected a couple years ago.

☆ This short-term investment hasn't looked as attractive since 2007
▼ + stars: | 2022-10-20 | by ( Patti Domm | In | ) www.cnbc.com time to read: +2 min

Just like their longer duration brethren, the yields on short-term Treasury bills have been ripping higher. The yield on the 3-month Treasury bill, for example, stood at 3.99% Thursday, the highest since 2007. The 1-month Treasury bill was yielding about 3.14% Thursday, while the 6-month bill was yielding 4.45%. To put that in perspective, the 30-year Treasury bond was yielding 4.16% Thursday. Bond yields move opposite to price, so if investors buy a bond or bill, and interest rates rise, they could lose principal.

☆ Radio DJ Art Laboe, who helped desegregate music venues and celebrated 'oldies but goodies,' dies at 97
▼ + stars: | 2022-10-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Dennis-Romero-Circle-Byline-Template.Jpg | Dennis Romero | ) www.nbcnews.com time to read: +4 min

Radio DJ Art Laboe, who interviewed Elvis for radio in the 1950s before helping make Black music and Latino youths lifelong friends, has died. The DJ, who hosted a show on Los Angeles radio station KDAY, died Friday of pneumonia, according to a statement on his Facebook page. The final show from Laboe, who is credited with coining the phrase "oldies but goodies," was broadcast Sunday. "Art Laboe's legacy will endure as his team will continue to produce his current nightly request and dedication syndicated radio show, 'The Art Laboe Connection,'" the post said. In the mid-1950s, Laboe was the top daytime radio DJ in Los Angeles.

☆ Mega-bank status weighs on U.S. banking’s B-team
▼ + stars: | 2022-09-26 | by ( John Foley | ) www.reuters.com time to read: +4 min

The bosses of PNC Financial Services (PNC.N) , Truist Financial (TFC.N) and U.S. Bancorp (USB.N) joined jumbo-size counterparts on Capitol Hill for a grilling last week, their first appearance as what Congress terms mega-banks. Weighed on systemic significance, U.S Bancorp is around one-eighth as risky as JPMorgan, according to a U.S. Treasury analysis. They are also much simpler than their bigger rivals, lacking international networks and complex trading businesses. PNC boss Bill Demchak noted that his office is on Fifth Avenue, but the one in Pittsburgh, not Manhattan. Watchdogs say they fear a scenario where, say, U.S. Bancorp fails and needs to be absorbed by JPMorgan, making the biggest banks even bigger.

☆ 11 best exercise bikes in 2022 for indoor cycling
▼ + stars: | 2022-09-23 | by ( Justin Krajeski | Justin Krajeski Is An Associate Editor For Select On Nbc News. | ) www.nbcnews.com time to read: +16 min

LEARN MORE Best exercise bikes to shopWhen it comes to deciding which stationary bike is best for you, it’s important to determine how much you’ll exercise — as well as where and when. Maybe you want to easily adjust the bike’s resistance, move its handlebars or just need something quiet for nighttime sweats. Best exercise bikes to shopWe highlighted stationary bikes that cost less than $700, focusing on those with great customer reviews. (Unlike most of the higher-end models, budget stationary bikes don’t list how many resistance levels they have.) (Unlike most of the higher-end models, budget stationary bikes don’t list how many resistance levels they have.)

☆ Wall Street’s banking-as-a-service has a problem
▼ + stars: | 2022-09-23 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 28, 2016. The nature of the buyout business means there are asset flips, equity offerings, follow-ons, and recapitalizations that all generate recurring fees. Private equity clients are ideal for investment banks that otherwise have to schmooze large companies like Microsoft (MSFT.O) for years before receiving a one-off deal. Follow @JMAGuilford on TwitterCONTEXT NEWSPrivate equity firms accounted for 26% of M&A deals in the first six months of 2022, according to Refinitiv, a record-high share. During that time, investment banks earned $6.5 billion in fees worldwide from providing services to financial sponsors, Refinitiv data show.

read more Save America is a fundraising body known as a leadership PAC, which only allows politicians to help their allies financially. To be sure, Trump's Save America PAC has spent money on the midterms: close to $9 million on rallies with candidates where Trump has repeatedly hinted he could run for president again; and a similar amount on direct contributions to the more than 200 candidates Trump has endorsed. Reuters GraphicsFEDERAL PROBEThe New York Times reported earlier this month that a federal grand jury in Washington was seeking information on the formation of - and spending by - Save America. During the first half of the year, Save America vacuumed in close to a fifth of the funds raised through WinRed, the main Republican online fundraising platform. Save America regularly sends supporters emails proclaiming them "Patriot of the Month" - or chiding them for not yet contributing.

☆ Sorry, Biden backers. President Donald Trump actually has more campaign cash now than 4 years ago
▼ + stars: | 2020-09-10 | by ( Dave Levinthal | ) www.businessinsider.com time to read: +10 min

President Trump's campaign ended July with $120 million, about three times more than the roughly $39 million it reported at this point in 2016. This doesn't cost Trump's campaign anything but helps get his message to voters. In addition to the Trump campaign, the Republican National Committee and several pro-Trump super PACs have planned heavy spending before Election Day. The Trump campaign ended July with more than $120 million, compared with about $99 million for Biden. Some areas of Trump campaign spending have even dropped from 2016 to 2020.

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