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President-elect Donald J. Trump has so far told advisers that he is standing behind Mr. Hegseth as his pick for defense secretary. The woman’s allegation, the outlines of which surfaced last week, have complicated Mr. Trump’s intention to have Mr. Hegseth lead the Defense Department next year. Mr. Trump has told advisers that he is standing behind Mr. Hegseth, a veteran of the wars in Iraq and Afghanistan. The complainant told authorities that she could not recall how she got to Mr. Hegseth’s hotel room or whether intercourse occurred. Mr. Hegseth told the police that he was “buzzed” but not intoxicated that night.
Persons: Pete Hegseth, Donald J, Trump, Hegseth, Jane Doe, ejaculating, , Hegseth’s, Karoline Leavitt, Trump “, Pete, Hegseth “, Mr, Knuckles, , “ Jane Doe, Hegseth ejaculated, Orlando Mayorquín Organizations: National Council of Young Israel, California Federation of Republican Women, Hyatt Regency Monterey, Defense Department, Fox News, Knuckles Sports, Kaiser Permanente, Office Locations: New York, Monterey, Calif, Hegseth’s, Hyatt Regency Monterey Hotel, Spa, Iraq, Afghanistan, Kaiser, Monterey County
Russia sent a volley of missiles at the eastern city of Dnipro on Thursday, Ukrainian officials said, the latest assault in a week of rising hostilities between the two adversaries. Ukraine claimed Russia had used an intercontinental ballistic missile, which would have represented a significant escalation in its assaults. But several Western officials said that the weapon was not an ICBM and instead was likely an intermediate-range missile that flies shorter distances. President Volodymyr Zelensky said Russia had attacked Ukraine with a new class of missile. “All the parameters — speed, altitude — match those of an intercontinental ballistic missile,” he said.
Persons: Volodymyr Zelensky, Organizations: Russian Defense Ministry Locations: Russia, Dnipro, Ukraine, Russian, Astrakhan
Meituan HSBC is bullish on Meituan and has a target price of 220 Hong Kong dollars ($28.30) on the stock, giving it 25.8% upside potential. "Despite the macro challenges, Meituan's growth profile remains resilient," said Charlene Liu, HSBC Global Research's head of internet and gaming research for Asia-Pacific. Calling it a "best-in-class small-cap" idea, HSBC Global Research's India health-care analyst Damayanti Kerai believes it is "well positioned to sustain healthy growth." Kia's shares have been on an uptrend, gaining around 8% in the last five days. HSBC has a target price of 160,000 Korean Won ($114.80) on the stock, implying nearly 63.1% upside potential.
Persons: Charlene Liu, Liu, Damayanti Kerai, Kerai, Will Cho, Cho, — CNBC's Michael Bloom Organizations: HSBC, Hong, HSBC Global Research's, Morningstar, Hong Kong Exchange, Krishna, Medical Sciences, Bombay Stock Exchanges, Kia, Korea Exchange, Won Locations: Asia, Hong Kong, U.S, HSBC Global Research's India, Korean, HSBC Global Research's Korea, EU
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Emaile.l.f Beauty CEO Tarang Amin: 'Our facts unravel' the short report against companye.l.f Beauty CEO Tarang Amin joins 'Mad Money' host Jim Cramer to talk the recent short-seller call against the company.
Persons: Tarang Amin, Jim Cramer Organizations: e.l.f
The arrest warrants issued by the International Criminal Court are the first time that leaders of a modern Western democracy have been accused of war crimes and crimes against humanity by a global judicial body. By themselves, the warrants, seeking the arrests of Prime Minister Benjamin Netanyahu of Israel and his former defense minister, Yoav Gallant, represent an important diplomatic landmark. They will be seen by many countries in the global south, rightly or wrongly, as a sign that international institutions are no longer necessarily tools of the West. The arrest warrants “are binding on all parties to the I.C.C.,” said Philippe Sands, an expert in international law who has argued before the court. “If they set foot on the territory of a state party, that state party has an obligation to arrest and transfer to The Hague.
Persons: Benjamin Netanyahu, Israel, Yoav Gallant, Netanyahu, Gallant, , Philippe Sands Organizations: International Locations: United States, Israel, Hague
AdvertisementIncoming boss Mark Lazarus addressed the CNBC newsroom Thursday. Three CNBC staffers told BI the mood inside the company seemed upbeat during Lazarus' visit. Three CNBC staffers told Business Insider they felt Lazarus' optimistic talk landed well in the newsroom. Lazarus said SpinCO "would be a predator, not prey" and examine various targets "like digital businesses and IP," a second CNBC staffer recalled. Before his meeting with CNBC staff on Thursday, Lazarus and MSNBC president Rashida Jones spoke to execs, producers, anchors, and hosts at MSNBC on Wednesday, Vanity Fair reported.
Persons: Mark Lazarus, Lazarus, Joe Kernan quipping, We're, SpinCO, Rashida Jones, Rachel Maddow, it's, Bob Iger Organizations: CNBC, Comcast, CNBC —, PE, MSNBC, Bravo, Disney Locations: New Jersey
After returning to the site on November 1, Deep Sea Vision — an ocean exploration company based in Charleston, South Carolina, that captured the original sonar image — has identified the object to be a natural rock formation. The hunt for Earhart’s plane continuesThe rock formation was more than 16,000 feet (4,877 meters) underwater. The team sent out the AUV directly above the site in early November, producing a high-resolution image of the rock formation. After the anxious wait, the image surprisingly revealed that the object was a natural rock formation, he said. When Deep Sea Vision first announced the anomaly, Jourdan cautioned against using sonar imagery to identify anything on the seafloor.
Persons: Amelia Earhart, Earhart, Electra, , Tony Romeo, , ” Romeo, Romeo, shouldn’t, Nauticos, David Jourdan, Jourdan, ” Jourdan, ” Amelia Earhart, Fred Noonan, Dorothy Cochrane, Cochrane Organizations: CNN, Lockheed, US Air Force, Vision, Smithsonian National Air and Space Museum Locations: Charleston , South Carolina, Kennebunkport , Maine, Lae, Papua New Guinea, Howland
This is due to unprofitable EV investments, Chinese market losses, and more domestic competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. AdvertisementBut despite that growth — and with EVs accounting for roughly 10% of US auto sales — companies not named Tesla have struggled to make their EV businesses profitable. German carmakers are losing out to Chinese EV upstarts like BYD. Analysts say inventory levels are improving at Stellantis and industry-wide as automakers react to a slower sales environment.
Persons: Ford, Josh Lefkowitz, EVs, That's, Tesla, Tim Levin, Daniel Pier, Stellantis, Price, Donald Trump Organizations: Ford, GM, Volkswagen Group, General Motors, Volkswagen, Silverado, Angeles Auto, EV, Cadillac, VW Group, Geely, VW, Competition Locations: Germany, Cadillac Lyriq, China, United States
China’s recent breach of the innermost workings of the U.S. telecommunications system reached far deeper than the Biden administration has described, the chairman of the Senate Intelligence Committee said on Thursday, with hackers able to listen in on telephone conversations and read text messages. “The barn door is still wide open, or mostly open,” the Democratic chairman, Senator Mark Warner of Virginia, a former telecommunications executive, said in an interview on Thursday. and other investigators believed that China’s hackers used stolen passwords to focus mostly on the system that taps telephone conversations and texts under court orders. It is administered by a number of the nation’s telecommunications firms, including the three largest — Verizon, AT&T and T-Mobile. But in recent days, investigators have discovered how deeply China’s hackers had moved throughout the country by exploiting aging equipment and seams in the networks connecting disparate systems.
Persons: Biden, Mark Warner of, Warner, Donald J, Trump, JD Vance Organizations: Senate Intelligence, Democratic, Microsoft, Verizon Locations: Mark Warner of Virginia, China
Nvidia — Shares of the chipmaker dipped about 1% in midday trading, after gyrating earlier in the session. Analysts polled by LSEG had called for earnings of 75 cents per share on $33.16 billion in revenue. Baidu — U.S. shares of the Chinese search engine fell about 5% after Baidu's third-quarter revenue declined by 3% compared to the year-ago period . BJ's Wholesale Club — Shares moved 9% higher after the warehouse club's third-quarter adjusted earnings beat the Street's estimates. The company said it will increase its membership fee and announced plans to repurchase $1 billion shares.
Persons: LSEG, Snowflake, Sridhar Ramaswamy, Merus, Goldman Sachs, — Stocks, Michael Novogratz, MicroStrategy, Miner Mara Holdings, BJ's, PDD, — CNBC's Sean Conlon, Yun Li, Michelle Fox Organizations: Nvidia —, Nvidia, Baidu, Department of Justice, Google, Chrome, Netflix, of America, , Galaxy Digital, Miner, BJ's Wholesale, PDD Holdings
Here's why dollar stores are hurting
  + stars: | 2024-11-21 | by ( Ryan Baker | Tala Hadavi | Melissa Repko | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why dollar stores are hurtingThe dollar store industry has historically done well when the consumer was under pressure. And so, in the decade that followed the Great Recession, Dollar General and Dollar Tree outperformed the S&P 500. But the current economic environment is playing out differently as both companies face competition in e-commerce and have been burdened with a number of operational challenges. Watch the video to find out why the share price of both stocks have plunged more than 50% in the past couple of years.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Emaile.l.f Beauty CEO Tarang Amin goes one-on-one with Jim Cramere.l.f Beauty CEO Tarang Amin joins 'Mad Money' host Jim Cramer to talk the recent short-seller call against the company.
Persons: Tarang Amin, Jim Cramer e.l.f, Jim Cramer
Investors shouldn't let a smaller-than-expected guidance beat overshadow tailwinds from Nvidia's looming Blackwell graphics processing unit rollout come January. Citi's Atif Malik lifted the firm's price target to $175 and opened a positive catalyst ahead of the consumer electronics show in January. Wells Fargo's Aaron Rakers moved to a $185 price target, reflecting 27% upside from Wednesday's close. Meanwhile, JPMorgan's Harlan Sur lifted his price target to $170 a share, saying that margins should improve toward the mid-70s range in the second half of 2025 as Nvidia streamlines costs. What's next for the stock Despite strong Blackwell expectations, some analysts warn of potential near-term volatility.
Persons: Wall, Blackwell, NVDA, Jefferies, Blayne Curtis, Citi's Atif Malik, Wells, Aaron Rakers, Bernstein's Stacy Rasgon, JPMorgan's Harlan Sur, What's, America's Vivek Arya, Tom O'Malley, Baruah, Cantor, C.J, Muse, Morgan Stanley, Joseph Moore Organizations: tailwinds, Blackwell, Nvidia, America's, Barclays Locations: Nvidia's
President-elect Donald Trump and Federal Reserve Chair Jerome Powell could be on a policy collision course in 2025 depending on how economic circumstances play out. That in turn could infuriate Trump, who lashed Fed officials including Powell during his first term in office for not relaxing monetary policy quickly enough. Though Powell became Fed chair in 2018, after Trump nominated him for the position, the two clashed often about the direction of interest rates. Should the results start to show up in the data, the Powell Fed may be tempted to hold tougher on monetary policy against inflation. "They're going to look at a very nontraditional approach to policy that Trump is bringing forward but put it through a very traditional economic lens," he said.
Persons: Jerome Powell, Donald Trump, Powell, infuriate Trump, Joseph LaVorgna, Trump Organizations: White, Washington , D.C, Federal, National Economic Council, Trump, Fed, Nikko Securities Locations: Rose, Washington ,, Trump's, Nikko
California Governor Gavin Newsom vetoed California's bill at the end of September but signed into law another bill which requires transparency in generative AI systems. "A lot of the privacy risks associated with AI can be tackled through a comprehensive data privacy regime," she said. The U.S. has historically approached data privacy with decentralized, state-by-state legislation, which is where AI regulation is currently headed. Regarding Colorado's successful AI bill, Maroney wrote on Facebook, "It is unfortunate that Connecticut chose not to join Colorado as a leader in this space. Even a model approach, if done wrong, could pose a major risk to the U.S. "Everybody's looking at California, especially when it comes to tech," Elgendy said.
Persons: Scott Weiner, Wiener, Gavin Newsom, California's, Tatiana Rice, Jonas Jacobi, Mohamed Elgendy, Elgendy, Rice, Robert Rodriguez, James Maroney, Maroney Organizations: Conference, AI Alliance, Washington D.C, U.S ., European Union AI, Privacy, Data, American, White, Office of Science, Technology, Democratic, Colorado Senate, Democratic Connecticut State, Facebook, Colorado Locations: California, San Francisco, Washington, Puerto Rico, U.S, U.S . Virgin Islands, Colorado, Silicon, Connecticut
Dollar stores companies were some best performing stocks in the S&P 500 during the Great Recession, said Piper Sandler managing director Peter Keith. Shares of Dollar Tree — which owns its namesake brand and Family Dollar — and Dollar General have both fallen roughly 50% this year. Lower income Americans, who comprise about 60% of Dollar General sales, are under more pressure to stretch their dollars in the face of high inflation. In its fiscal 2024 second quarter earnings call, Dollar General said those customers are also more reliant on online storefronts, which dollar stores have had less success in rolling out. Both Dollar Tree and Dollar General have also faced numerous worker safety violations over the past decade.
Persons: Piper Sandler, Peter Keith, Keith, Melissa Repko Organizations: Walmart, CNBC
AdvertisementMcDonald's is launching a new value menu to attract budget-conscious customers in the US. The chain has raised prices in recent years in response to inflation, putting off some customers. McDonald's is preparing to launch its new value menu in the US to win back cash-strapped shoppers. The chain has touted this new menu in recent earnings calls, saying it plans to roll it out in Q1 next year. But McDonald's is investing $100 million to regain trust, per a memo sent to employees seen by CNN.
Persons: McDonald's Organizations: Bloomberg, US Centers for Disease Control, CNN
The stock market has always pulled back when valuations are stretched as they are now, according to Deutsche Bank macro strategist Henry Allen in a note to clients this week. "[T]urning points can happen quickly, and … when valuations are stretched to start with, there can be limited scope for further gains," Allen noted. "[E]xamples of high returns through history have often been followed by sizeable reversals." The bank cited lofty current readings in the Cyclically Adjusted Price-to-Earnings (CAPE) ratio developed by economist Robert Shiller, arguing that "the CAPE ratio for the S&P 500 has only been higher on two other occasions in the last century" than it is today. "Indeed, on both the occasions the CAPE ratio has got as high as it is today, there was then a significant correction."
Persons: Henry Allen, Allen, Robert Shiller, — Scott Schnipper Organizations: Deutsche Bank
Two years ago, Gen. Mark A. Milley, then the chief military adviser to President Biden, suggested that neither Russia nor Ukraine could win the war. A negotiated settlement, he argued, was the only route to peace. Mr. Trump has made clear his distaste for continuing to help Ukraine take back territory seized by Russia, making a negotiated settlement the only real viable option left. The ascendance of Mr. Trump as Ukraine suffers losses on the battlefield in fact means less room for Ukraine to maneuver. Mr. Trump has said he would end the war quickly, though he has not explained how.
Persons: Mark, Biden, Donald J, Trump’s, Trump, JD Vance Locations: Russia, Ukraine, Europe
E.l.f. CEO addresses short seller's fraud accusations
  + stars: | 2024-11-21 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
Hedge fund Muddy Waters said Wednesday that it had shorted shares of E.l.f., alleging that the cosmetics company had overstated its inventory numbers. asked the U.S. Customs and Border Protection in February to keep its import data confidential for "competitive reasons," so Muddy Waters' claims don't hold weight. But Muddy Waters claimed its proof of deceit goes beyond import data. "In addition to the import data, Muddy Waters confirmed with three of E.l.f. 's purchases have declined this calendar year," Muddy Waters founder Carson Block told CNBC in a statement.
Persons: CNBC's Jim Cramer, E.l.f, Tarang Amin, Amin, Muddy Waters, Waters, Muddy, Carson Block, Circana Organizations: U.S . Customs, Protection, Muddy Waters, CNBC, Nielson Locations: E.l.f, U.S
North Carolina Republican lawmakers voted to strip the state’s incoming Democratic governor and attorney general of key powers, passing a sweeping bill before the GOP likely loses their veto-proof supermajority in the Legislature next year. That power currently lies with the governor's office, which will remain in Democratic hands after Attorney General Josh Stein defeated Republican Lt. Gov. Republicans have long sought control of the state Board of Elections, which is historically controlled by the same party as the current governor, but their past efforts have been foiled by the courts. That means they would be unable to override any future vetos from Stein without Democratic support. Stein is succeeding outgoing Cooper, whose administration repeatedly clashed with the Republican-led Legislature in the battleground state.
Persons: Dave Boliek, Jessica Holmes, Josh Stein, Mark Robinson, Roy Cooper's, , Karen Brinson Bell, Jeff Jackson, Stein, Cooper Organizations: North, North Carolina Republican, Democratic, GOP, Republican, Gov, Republicans, Democratic Gov, Board, State Board, North Carolina Legislature Locations: North Carolina, Stein
McDonald’s is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants. Local value offerings have been on menus across the country and in the app as of late, including 10 piece nuggets for $1, among other deals, as a part of the broader value strategy. While operators are still voting on the 2025 value offerings, the initiative looks likely to pass, two people familiar with the matter said. In its most recent quarter, McDonald’s reported earnings and revenue that topped expectations, but saw its same-store sales fall globally by 1.5%. And when you do that with news and great marketing, you can get strong full margin check that goes along with some of those value programs,” he said.
Persons: McDonald’s, that’s, Chris Kempczinski, , coli Organizations: CNBC Locations: U.S
The filing said those claims are "unambiguous violations of the Consent Injunction, and the Court should hold him in civil contempt." A representative for Giuliani, Ted Goodman, called the motion "a dishonest and duplicitous attack meant to deprive Mayor Rudy Giuliani of his First Amendment right to freedom of speech." "The ongoing lawfare against Mayor Giuliani must end," he said in a statement. Giuliani was found liable for defaming the pair during his efforts on Trump's behalf to overturn the results of the 2020 election. Moss and Freeman's attorneys urged the judge to stick with the current trial date, which was set last month.
Persons: Donald Trump, Rudy Giuliani, Ruby Freeman, Shaye Moss, Giuliani, he'll, , Ted Goodman, Mayor Giuliani, Freeman, Moss, Lauren Bacall, Aaron Nathan, District Judge Lewis Liman, Plaintiff, Trump's Jan Organizations: Washington , D.C, America's, Mayor, Benz, U.S, District Locations: Georgia, Washington ,, New York, Florida
Speaker Mike Johnson on Wednesday said that he supports restricting “single-sex facilities” in the Capitol, including restrooms, to “individuals of that biological sex”— which would effectively ban the first transgender congresswoman from using women’s bathrooms in the next Congress. Rep. Nancy Mace, R-S.C., introduced a resolution this week that would ban transgender women from using women's bathrooms and other facilities at the Capitol. She said Tuesday the bill "absolutely" targets Rep.-elect Sarah McBride, D-Del., the first openly transgender person elected to Congress. In a statement posted to X on Wednesday, McBride wrote, “I’m not here to fight about bathrooms. We should be focused on bringing down the cost of housing, health care, and child care, not manufacturing culture wars."
Persons: Mike Johnson, Nancy Mace, Sarah McBride, Johnson, ” Johnson, McBride, “ I’m, Speaker Johnson, I’ve, , doesn’t, Mace, resoundingly, Hakeem Jeffries, ” Jeffries, ” Sarah McBride, Andrew Harnik, Jeffries, Jamie Raskin, Pramila Jayapal, Jayapal, Chuck Schumer, ” McBride Organizations: Rep, Capitol and, GOP, Republican, Small House Republican Conference, U.S, Capitol
COLUMBIA, S.C. --- Susan Smith, the young mom who shocked the nation 30 years ago when she rolled her car into a lake with her two sons inside and watched them drown, was denied parole Wednesday. Susan Smith is led from the Union County Courthouse after the first day of testimony in the penalty phase of her trial. Brooks Kraft LLC / Sygma via Getty Images fileFrom behind bars, Smith continued to claim she was a good mother. He then read a passage that Smith wrote explaining why she allowed her sons to die. “I knew Jesus would take better care of them than I could,” Smith wrote, according to Thomas.
Persons: Susan Smith, Smith, recusing, Michael, Alex, Smith's, David Smith, It's, it’s, Brooks Kraft, , ” Smith, Tommy A, Thomas, Jesus, ” Tommy Pope, “ Susan, Susan, , Juliette Arcodia, Corky Siemaszko Organizations: COLUMBIA, S.C, TV, Courthouse, Reuters, Brooks, Brooks Kraft LLC, Getty, State, Women’s Correctional, South Carolina Department of Corrections, Republican, Pro Tem, South Carolina House Locations: Union , South Carolina, Union, South Carolina, Columbia, New York
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