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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFriday's jobs report makes September cut very likely: JPMorgan’s David KellyDavid Kelly, JPMorgan Asset Management chief global strategist; David Zervos, Jefferies chief market strategist; Stephanie Roth, Wolfe Research chief economist; and Steve Liesman join 'CNBC's Special' to discuss what Friday's weak job reports suggest, their expectation from the Fed, and more.
Persons: JPMorgan’s David Kelly David Kelly, David Zervos, Stephanie Roth, Wolfe, Steve Liesman Organizations: JPMorgan Asset Management, Jefferies, Wolfe Research
They act as if they're not," Jim Cramer said Friday. "They're talking about a lack of innovation and a pipeline that doesn't look that good," Cramer said, suggesting he's not too pleased with the situation. DoorDash : The stock jumped 7% after a strong quarter and a guidance raise. "This is a very good stock." Cramer said that if ad share is going to Meta Platforms , "just go buy Meta."
Persons: Jim Cramer's, they're, Jim Cramer, David Zinsner, Pat Gelsinger, Cramer, he's Organizations: CNBC, Club, Intel, Meta
Carvana stock skyrockets on massive Q2 sales beat
  + stars: | 2024-07-31 | 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 EmailCarvana stock skyrockets on massive Q2 sales beatCNBC's Phil LeBeau, David Zervos, Jefferies chief market strategist, and Brooke May, Evans May Wealth managing partner, join 'Closing Bell Overtime' to talk Carvana earnings and today's slate of earnings.
Persons: CNBC's Phil LeBeau, David Zervos, Brooke May, Evans Organizations: Jefferies, Wealth
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, what to expect from OpenAI's newest AI model that's in the works. GPT-5, the newest model upgrade for OpenAI's chatbot, is coming soon . AdvertisementOpenAI has a lot riding on its newest model, including its ability to get customers to cough up more cash. That's not ideal for a company that's preparing to take on one of the biggest juggernauts in tech: Google's Search.
Persons: , Z's, Let's, Nordin Catic, OpenAI, Darius Rafieyan, Darius, ChatGPT, Justin Sullivan, Chelsea Jia Feng, it's, Sam Altman, Ned Davis, David Solomon, Goldman Sachs, David Zalubowski, Chiang Ying, Mark Zuckerberg, Jensen Huang, Alexa von Tobel, Tyler Le, Mark Zuckerberg's, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Getty, OpenAI, Ned Davis Research, Blackstone, Harvard, Microsoft, Starbucks, Apple, Apple Intelligence, Fed, Meta, Boeing, Kraft Locations: undergrad, New York, China, London
The topic of Temu and Shein's growth will hover over tech earnings this week, as Amazon reports second-quarter results alongside Meta, eBay and Etsy. watch nowIn Amazon's report on Thursday, the company is expected to show revenue growth of about 11% to $148.6 billion, according to LSEG. That's where Temu and Shein come into play, as merchants now have new ways to get products to American consumers. Amazon has continued to highlight its delivery prowess and its focus on speed in the face of growing competition from Temu and Shein. However, while it's long touted itself as the "lowest-priced U.S. retailer," Amazon has shown that it's well aware of Temu and Shein's increasing popularity.
Persons: Stefani Reynolds, David Zapolsky, Zapolsky, it's, Shein, Andy Jassy, Jassy, It's, Angus Mordant, Temu, Meta, Susan Li, Jamie Iannone, Etsy, Amazon, Amazon's Zapolsky Organizations: Apple, CNBC, Afp, Getty, eBay, Meta, Etsy, Tech, YouTube, Microsoft, Intel, Qualcomm, Google, PDD Holdings, Amazon, European Union, Bloomberg, Barclays, Finance, EBay, Bank of America, Walmart Locations: U.S, China, Temu, New York, Asia, Pacific, San Francisco, Singapore
If you ask Zaslav, though, the reason Roberts and other potential buyers of media assets aren't interested is because the government has scared them away. Or, perhaps, legacy media companies are simply undesirable assets to own. He extended the life of his previous company, Discovery Communications — and probably his own tenure running a media company — by merging it with AT&T's WarnerMedia in 2022. Without a deal, Discovery would have wallowed as a subscale content provider and owner of declining cable networks. Discovery with another legacy media company, such as Paramount Global , Fox or Disney , or NBCUniversal, if it were spun off from Comcast.
Persons: David Zaslav, David Grogan, Brian Roberts, " Roberts, Comcast's, Roberts, Zaslav, Shari Redstone, Rob Kindler, Paul, Weiss, they've, Kindler, haven't, Morgan Stanley's, Donald Trump's, There's, Joe Biden's, Simon, Simon & Schuster, JD Vance, Lina Khan's, Lina Khan, Biden, Vance, Kamala Harris Organizations: Allen & Company Sun Valley Conference, CNBC Comcast, Warner Bros, Discovery, Allen & Co, Sun, Paramount, Skydance Media, CNBC Redstone, Starz, AMC Networks, Vice Media, Discovery Communications, NBA, Apple, Paramount Global, Fox, Disney, Comcast, CNBC, Google, Scripps Networks Interactive, Time Warner, Scripps, Viacom, CBS, Sky, AMC, IFC, Sundance, Lionsgate, Media, Republican, Democratic, Donald Trump's Department of Justice, Simon &, Random, MGM, Federal Trade, & $ Locations: Sun Valley , Idaho, RemedyFest
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Discovery boss David Zaslav told investors he'd be ok without NBA games, which his TNT network had been airing for decades. You can read an excellent blow-by-blow of WBD's failed negotiations with the NBA from John Ourand at Puck. One is that WBD somehow wins its suit and ends up forcing the NBA to give it games it would prefer to sell somewhere else. And then there are two other possibilities: One is that WBD doesn't get the games, but extracts some kind of settlement from the NBA for supposedly breaching a contract.
Persons: , David Zaslav, He's, it's, they've, WBD's, John Ourand, WBD, who's, doesn't, Fox — Organizations: Service, Warner Bros, NBA, TNT, Disney, Comcast, Business, HBO, WBD, Fox, Advertisement College, NFL Locations: Puck
New York CNN —The stage is now officially set for a high-stakes showdown between the NBA and TNT parent company Warner Bros. WBD, the parent company of CNN, paid for matching rights when it struck its current deal with the NBA. In doing so, the NBA argued that WBD’s offer was not a legally valid match since it would also be broadcasting the games on TNT. And it should be noted that the contractual paperwork giving WBD matching rights is pages long and not simple. Zaslav and his deputies believe that they have a robust legal argument and that they are indeed entitled to use their contractual rights to match Amazon’s bid.
Persons: WBD’s, David Zaslav, Adam Silver, Warner, WBD, , that’s, , NBCU, Zaslav, Stephen A, Smith Organizations: New, New York CNN, NBA, TNT, Warner Bros ., Wednesday, Amazon, Warner Bros, CNN, CNBC, NBCUniversal, Disney, ESPN, Big Tech, Apple, Google Locations: New York
Discovery and Disney launched a cross-studio bundle of Disney+, Hulu, and Max on Thursday, bringing the services together at a discounted price as the entertainment giants look to scale their streaming businesses. Disney+ with Hulu is also available for $9.99 a month with ads. Disney already offers its own streaming bundle that includes Disney+, Hulu, and ESPN+ at a bargain rate. Earlier this month, Hallmark announced that it, too, will launch its own standalone streaming platform, Hallmark+, ahead of the holiday season. Disney, WBD and Fox Corp. are also launching the dedicated sports streaming service Venu this fall, which will combine ESPN, TNT, Fox Sports and other assets under a single streaming roof.
Persons: Max, Marvel, , David Zaslav, NBC’s Peacock, Peacock, Venu, “ We’ve, Bob Iger, Organizations: New, New York CNN, Warner Bros . Discovery, Disney, HBO, ABC, CNN, Food Network, FX, HGTV, Hulu, Pixar, Star Wars, Warner Bros, Netflix, Amazon Prime, ESPN, Verizon, Paramount, Apple, Comcast, Hallmark, Fox Corp, TNT, Fox Sports, ” Disney, CNBC Locations: New York, Hulu
Warner Bros. Warner Bros. Warner Bros. Warner Bros. Warner Bros.
Persons: David Zaslav, NBCUniversal Organizations: Warner Bros, Discovery, National Basketball Association, Amazon Prime, NBA, Warner Bros . Discovery, TNT, Amazon, Disney, Comcast, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHarris' business and economic policies are likely to mirror President Biden's, says DCLA's SethiDavid Zervos, Jefferies chief market strategist, and Sarat Sethi, DCLA managing partner and portfolio manager, join CNBC's 'Special Report' to discuss the impact of a possible Harris presidency on the economy and markets.
Persons: Harris, Biden's, DCLA's Sethi David Zervos, Sarat Sethi, DCLA, CNBC's Organizations: Jefferies
"Should Biden leave the race, we would not immediately change our electoral odds (60% Trump vs. 40% Biden/Dem). However, we would note that the policies of a potential Harris administration would largely align with those of President Biden," Mills said. "The primary market moves on election night will come through the equity side as a result of significant regulatory policy divergences. Under a Biden win, it will be status quo in markets. With a Trump win, [stocks] will get some serious legs," Jefferies chief market strategist David Zervos said in a Friday note to clients.
Persons: Joe Biden, Donald Trump, Biden, Raymond James Washington, Ed Mills, Stocks, Trump, Harris, Mills, MAGA, TD Cowen, Chris Krueger, David Zervos Organizations: NBC, Trump, Biden, Federal, Democratic, Traders, Republican, Democratic Party, GOP, Senate, Jefferies
That's basically the pitch the management of Warner Bros. Discovery is floating to investors today, via a story in the Financial Times: "A dramatic plan to split its digital streaming and studio businesses from its legacy television networks." And would the money from those declining networks be enough to service all that debt? Apple, most notably, inquired about buying HBO way back when its parent company was called Time Warner. If WBD can't split the company the way it's supposedly proposing now, it will end up selling off assets (maybe CNN?
Persons: That's, WBD, I've, hasn't, Pimple Popper, HBO hasn't, Jessica Reif Ehrlich, Rich Greenfield, you'll, it's, Time Warner, David Zaslav —, Donald Trump, he's, Zaslav Organizations: Service, Warner Bros, Financial, Business, HBO, Max, CNN, Netflix, Big Tech, Apple, Time, Sun, Paramount
But China has been rocked by a number of high-profile stabbing cases in recent decades, including multiple such attacks at schools. These worries were clear on Chinese social media after the latest attacks, with several commentators connecting China’s dire economic circumstances to the violence, even as the attackers’ motives remained unclear. Rare violent crimeTwo of the most high-profile recent attacks came in June – and both targeted foreign nationals. Video Ad Feedback Four Americans are stabbed in a shock attack in China 04:20 - Source: CNNUltra-nationalism has risen across China and Chinese social media in recent years, as has anti-American and anti-Japanese sentiment. On social media, the belief that economic insecurity is making the country less safe remains palpable.
Persons: , haven’t, China –, Michelle Miao, , Mao Ning, Adam Zabner, David Zabner, Adam, Stabbings, Miao, CUHK Organizations: Hong Kong CNN, Chinese University of Hong, Stanford University’s Center, Behavioral Sciences, CNN, Ministry of Public Security, World Bank, United Nations Office, Drugs, Americas, Xinhua, Youth Locations: Hong Kong, China, Guangxi, Weibo, , Chinese University of Hong Kong, , Iowa, Beishan Park, Jilin, Asia
CNN —Israel’s ultra-Orthodox Shas party urged potential conscripts Wednesday to ignore a call-up from the Israel Defense Forces, as political divisions over the controversial issue showed signs of widening. Ultra-Orthodox Jews, or Haredi, have traditionally been exempt from military service so as to be able to study the Torah. The move sparked fierce protests among Haredi communities. Prime Minister Benjamin Netanyahu’s fragile government coalition relies on two Haredi parties – United Torah Judaism and Shas – to govern. Netanyahu has been trying to advance legislation through Israel’s parliament, the Knesset, that would enshrine in law a draft exemption for Haredi men.
Persons: Shas, they’d, David Zini, General Shay Tayeb, Rabbi David Label, Benjamin Netanyahu’s, Shas –, Netanyahu, Mick Krever Organizations: CNN, Israel Defense Forces, IDF, IDF Training Command Locations: Israel, Bnei Brak, Israel’s
Zaslav, the cable-executive-turned-mogul, orchestrated the tie-up between Warner Media and Discovery after running the latter for 15 years. "The current composition as a consolidated public company is not working," Ehrlich wrote in a July 16 note. AdvertisementZaslav should reexamine his strategy and look at options that would benefit his long-suffering stock, Ehrlich wrote. 3 best blueprints for a WBD turnaroundIn the note, BofA media analysts outlined several potential paths forward for Zaslav and the company. Advertisement"We have long discussed an impending 'rebundling' in media, as the current streaming market is oversaturated and ripe for consolidation," Ehrlich wrote.
Persons: , it's, David Zaslav, hasn't, Jessica Reif Ehrlich, Ehrlich, BofA, Bob Iger, Fox Organizations: Service, Warner Bros, Warner Media, Discovery, Business, Bank of America's, NBC, Disney, ABC, CBS, Paramount, Skydance, Max Locations: Zaslav, Hollywood
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPowell's comments were a 'victory lap speech,' says Jeffries' David ZervosDavid Zervos, Jeffries’ chief market strategist, joins CNBC's 'The Exchange' to discuss Fed Chair Jerome Powell's comments at the Economic Club of Washington D.C.
Persons: Jeffries, David Zervos David Zervos, Jerome Powell's Organizations: Economic, of Washington D.C
Even though Fishman is the owner of the VitaCup brand, he said he lost the buy box to a reseller of his coffee products. That meant it was indexed by Amazon's pricing algorithms, Fishman said, causing him to lose the buy box. Angus Mordant | Bloomberg | Getty ImagesWinning the buy box is paramount to a seller's success on Amazon. Nearly 98% of sales made on Amazon go through the buy box button, the FTC alleged in its suit. "The only way to get back the Amazon buy box is to lower our price on Amazon," Arnold said.
Persons: Tom Williams, Brandon Fishman, Fishman, I've, David Zapolsky, Amazon's, Target, Angus Mordant, Mason Arnold's, Arnold, Sunwink, we're Organizations: Washington , D.C, Cq, Inc, Target, Amazon, Walmart, Federal Trade Commission, JPMorgan, Bloomberg, Getty, FTC Locations: Washington ,, Harriman , New York
But for now, we're turning to Wall Street in our big story, as big banks gear up to report their earnings. The big storyEarnings to watchMomo Takahashi/BIJust like that, it's Wall Street earnings season once again. Wall Street banks have been waiting for M&A, IPOs, and other fee-generating corporate dealmaking to come roaring back for two years. In May, the CEO shocked Wall Street by saying he plans to step down in the next five years . Will banks start charging for everyday consumer products like checking accounts?
Persons: , Joe Biden's, Sen, Peter Welch, Biden, Momo Takahashi, Wells, Goldman Sachs, Morgan Stanley, Kaja Whitehouse, Jamie Dimon's, Kaja, Jefferies, Jamie Dimon, Wall, Marianne Lake, We're, Larry Fink, Jenny Chang, Rodriguez, Neil Dutta, Tesla's, Elon Musk, Jeff Bezos, Rich Guy, Alyssa Powell, Andrei Cojocaru, David Zaslav, isn't, Joe, Zaslav, Jordan Parker Erb, Lisa Ryan, Joe Ciolli, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Democrat, Democratic, Hollywood, NATO, Business, showtime, JPMorgan, Citigroup, BlackRock, Bank of America, Getty, Warner Bros, Discovery, Air Lines, PepsiCo, Bureau of Labor Statistics Locations: New York, Chicago, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWarner Bros. Discovery CEO David Zaslav talks sports streaming bundle 'Venu'CNBC's Julia Boorstin talks what she is hearing from top media execs at the Allen & Co. Sun Valley Conference kicks off.
Persons: David Zaslav, Julia Boorstin Organizations: Warner Bros, Discovery, Allen, Co, Sun Valley Conference
Media and tech bosses hate Joe Biden's antitrust policies, which they think are holding them back from buying and selling each other. Not WBD CEO David Zaslav, though. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Discovery CEO David Zaslav has no opinion about who should win the US presidential election this fall. But he got plenty close Tuesday at Sun Valley, the annual media and tech mogul conference:Via Bloomberg:
Persons: Joe, David Zaslav, , Joe Biden, didn't Organizations: Service, Warner Bros, Discovery, Bloomberg Locations: Sun
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWBD CEO David Zaslav: Over the next year or two we're going to see more media consolidationCNBC's Julia Boorstin talks what she is hearing from top media execs at the Allen & Co. Sun Valley Conference kicks off.
Persons: David Zaslav, Julia Boorstin Organizations: Allen, Co, Sun Valley Conference
The vibe is trail-dad chic — think puffy Patagonia vests and Apple watches and stealth-wealth cashmere pullovers. Sun Valley is also widely believed to be the place where Jeff Bezos decided to buy The Washington Post, and the site of the meet-cute between Comcast and NBC Universal. There are also some notably absent names from the guest list this year. Bob Iger, CEO of Disney and one of the most recognizable business leaders on the planet, wore a name tag and aviators at last year's Sun Valley summit. Questions about President Joe Biden’s ability to campaign have wealthy donors and Democratic officials in a tizzy.
Persons: , Jeff Bezos, Warren Buffett, Sam Altman, Bob Iger, Tim Cook, Meta’s Mark Zuckerberg, Google’s Sundar Pichai, Rupert Murdoch, Oprah Winfrey, David Zaslav, Zaslav, Kevin Dietsch, There’s Buffett, Greg Abel, Buffett, Astrid, Elon Musk, Joe Biden’s, Gretchen Whitmer, Josh Shapiro, Wes Moore, Biden, it’s, Hamilton Nolan Organizations: New, New York CNN, Friedman, Allen & Company, Washington Post, Comcast, NBC Universal, Idaho Mountain Express, Disney, Warner Bros, Bloomberg, Variety, Discovery, Paramount, Democratic Locations: New York, Hailey , Idaho, Sun Valley , Idaho, Idaho, America, Sun
The next round of filings for spot ether ETFs with the SEC is due today, part of the ongoing regulatory process required before spot ether ETFs can be launched. One thing's for sure: the launch of spot bitcoin ETFs this year has been a success. That's still true for this year, but two of the top 10 ETF inflows year to date have been into spot bitcoin ETFs: iShares Bitcoin Trust (IBIT) at number four, and Fidelity Wise Origin Bitcoin Trust (FBTC) at number eight. Would 50% of the inflows of the spot bitcoin ETF be a win? We'll talk about this with Matt Hougan from Bitwise Asset Management, one of the applicants for a spot ether ETF.
Persons: That's, iShares, Matt Hougan, Matt, Nate Geraci Organizations: SEC, Nasdaq, Fidelity, Bitcoin, Stock, Aggregate, Blackrock US, Bitwise Asset Management, Edge
In past years, media companies chased high subscriber numbers in an attempt to best each other. Nathaniel S. Butler | National Basketball Association | Getty ImagesWith the NBA's media rights negotiations still ongoing, sports will remain a topic of conversation at this year's gathering. League commissioners, especially the NFL's Roger Goodell, are often attendees of the Sun Valley conference. Discovery has been weighing whether to match a competing offer for the media rights as the league looks to finalize smaller package deals. Sports remain the glue holding the traditional pay-TV bundle together, and has proven invaluable for streaming services, too.
Persons: Drew Angerer, Discovery's David Zaslav, Bob Iger, Dana Walden, Alan Bergman, Josh D'Amaro, Hugh Johnston, Ted Sarandos, Greg Peters, Andy Jassy, Jeff Bezos, Tim Cook, it's, Shari Redstone, Neil Begley, Redstone, David A, Barry Diller —, Paramount —, Jeff Shell, Max, Jonathan Miller, Begley, Sun, Mark Boidman, Dwyane Wade, Nathaniel S, Butler, Roger Goodell, Miller, Donald Trump, Joe Biden, Andrew Harnik Organizations: Getty Images Media, titans, Allen, Co, Warner Bros, Netflix, Apple, Amusements, Paramount Global, Paramount, Moody's Investors Services, Co . Media, Technology Conference, Grogan, CNBC, Media, Shell, Disney, Hulu, ESPN, Fox Corp, Integrated Media, Hollywood, Solomon Partners, Sports, NBA, National Basketball Association, Getty, League, Sun, NFL, YouTube, Amazon Locations: Sun Valley , Idaho, Sun, Idaho, Atlanta
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