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☆ Hindenburg Research targets $4.6 billion Kazakh brokerage for allegedly helping Russian oligarchs evade sanctions
▼ + stars: | 2023-08-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Timur Turlov, CEO of Freedom Finance brokerage speaks to Reuters during the interview in the office in Moscow, Russia October 10, 2019. Freedom Holding Corp. was founded in Moscow in 2008, before later moving to Kazakhstan, and listed on the Nasdaq in 2019. After Russia invaded Ukraine early last year, U.S. sanctions essentially severed ties between American and Russian banks and companies. But according to a report from Hindenburg on Tuesday, those ties remain tight. One former senior executive alleged to Hindenburg that Russian money laundering was rampant.

Persons: Timur Turlov, Jack Dorsey's Block, Carl Icahn, Freedom, Hindenburg's, Hindenburg, OFAC, I've Organizations: Freedom Finance, Reuters, Hindenburg Research, Freedom Holding, Nasdaq, Freedom, noncompliance, U.S . Treasury Department's, Foreign Assets, SEC, European Union, Freedom's, Ukraine Locations: Moscow, Russia, Kazakhstan, Ukraine, Hindenburg, Russian, United Kingdom, Belizean

☆ Cramer's Lightning Round: Stay away from Plug Power
▼ + stars: | 2023-08-14 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Plug Power's year-to-date stock performance. Stock Chart Icon Stock chart icon PayPal's year-to-date stock performance. Stock Chart Icon Stock chart icon ModivCare's year-to-date stock performance. Stock Chart Icon Stock chart icon 3M's year-to-date stock performance. Stock Chart Icon Stock chart icon On Holding's year-to-date stock performance.

Persons: you'd, I've, They've, that's Organizations: PayPal, MasterCard, Visa

☆ Ant group quarterly profit rises 17.5% on year to 13.37 bln yuan - Alibaba filing
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

A booth of Ant Group is pictured at the Singapore FinTech Festival, Singapore, November 4, 2022. REUTERS/Anshuman DagaSHANGHAI, Aug 10 (Reuters) - China's Ant Group made net profit of 13.37 billion yuan ($1.85 billion) in the three months to March 31, up 17.5% from a year earlier, according to Reuters calculations from Alibaba Group Holding's (9988.HK) earnings report released Thursday. The e-commerce giant reports profit from Ant one quarter in arrears. Chinese authorities in July announced a fine of 7.12 billion yuan ($984 million) for Ant Group for violating laws concerning consumer protection and corporate governance, ending a years-long regulatory overhaul of the fintech company. ($1 = 7.2097 Chinese yuan renminbi)Reporting by Casey Hall Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Ant's, Casey Hall, Bernadette Baum Organizations: Ant, Singapore FinTech Festival, REUTERS, Alibaba, HK, Ant Group, Thomson Locations: Singapore, SHANGHAI

REUTERS/Jonathan Bachman/File PhotoHOUSTON, July 21 (Reuters) - A U.S. court set Oct. 23 as the start date for a long-expected auction of shares in Venezuela-owned refiner Citgo Petroleum's parent to pay creditors with judgments against the South American nation. U.S. Judge Leonard Stark in Delaware this week accepted a recommendation by a court official in charge of organizing the auction. Proceeds from any sale of PDV Holding shares would be used to pay off creditors previously cleared by the court. Any sale of Citgo without the participation of Venezuela would be "hurtful," Pedro Tellechea, Venezuela's oil minister, said on Friday. "It's not a PDVSA asset.

Persons: Jonathan Bachman, Judge Leonard Stark, PDV, Pedro Tellechea, Horacio Medina, Stark, Venezuela's, Hugo Chavez, PDVSA, Marianna Parraga, Gary McWilliams, Richard Chang, Grant McCool Organizations: Citgo Petroleum, REUTERS, South, Petróleos, PDV, U.S . Treasury Department, PDVSA, Crystallex, ConocoPhillips, Siemens Energy, Tree Investments, Inc, Huntington Ingalls Industries, ACL1 Investments, Rusoro, Koch Industries, Thomson Locations: U.S, Stowell , Texas, Venezuela, South American, PDV, Delaware

☆ Bullish developments for three stocks across sectors — and our take, too
▼ + stars: | 2023-07-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

Morgan Stanley analysts believe the market for obesity drugs is even larger than initially expected, a finding that aligns with our rosy outlook on Eli Lilly (LLY). The news: Obesity drugs could generate annual sales up to $77 billion in 2030, Morgan Stanley said Friday, a nearly 43% increase to the firm's previous forecast. Insurance reimbursement for obesity drugs has spread quicker than Morgan Stanley expected, which helped prompt the firm to update its multiyear sales outlook. However, there's been some concern that insurance companies would be hesitant to cover this new class of obesity drugs, which carry hefty price tags, along with side effects like nausea and vomiting. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Morgan Stanley, Eli Lilly, LLY, Lilly, Wegovy, Eli Lilly's, Morgan Stanley's, Jim Cramer's, we've, there's, Sartorius, Danaher, We've, We're, Lisa Su, Su, TSM, Apple's, There's, Jim Cramer, Jim, Cristina Arias Organizations: Club, Novo Nordisk, Wall, AMD, Devices, Club holding's, Nikkei Asia, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Intel, CNBC, Company, Pharmaceutical Locations: U.S, Japan, Tokyo, Taiwan, China, Beijing, Arizona, Alcobendas, Madrid, Spain

☆ Cramer's Lightning Round: KeyCorp is a buy
▼ + stars: | 2023-07-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Illumina's year-to-date stock portfolio. Stock Chart Icon Stock chart icon Compass Pathways' year-to-date stock performance. Stock Chart Icon Stock chart icon KeyCorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Eaton's year-to-date stock performance. Stock Chart Icon Stock chart icon ASML Holding's year-to-date stock performance.

Persons: Eaton, you've, ASML Organizations: Verve Therapeutics, ASML, Taiwan Semi Locations: Informatica, Taiwan

☆ Prigozhin-controlled Russian media group shuts amid mutiny fallout
▼ + stars: | 2023-07-02 | by ( ) www.reuters.com time to read: +2 min

July 2 (Reuters) - Yevgeny Prigozhin's media holding group is to shut down, the director of one of its outlets said, highlighting the mercenary chief's worsening fortunes a week after the collapse of a brief mutiny staged by his Wagner Group fighters. Patriot Media, whose most prominent outlet was the RIA FAN news site, had taken a strongly nationalist, pro-Kremlin editorial line, while also providing positive coverage of Prigozhin and his Wagner Group. Russian newspaper Kommersant reported on Friday that the country's communications watchdog Roskomnadzor had blocked media outlets linked to Prigozhin, without elaborating. Despite the abortive mutiny, Russian authorities have not officially outlawed the Wagner Group, but Putin said on Tuesday the finances of Prigozhin's catering firm would be investigated. Under Prigozhin's leadership, the group has grown into a sprawling international business with mining interests and fighters in Africa and the Middle East.

Persons: Yevgeny Prigozhin's, Wagner, Vladimir Putin, Yevgeny Zubarev, Zubarev, Roskomnadzor, Prigozhin, Putin, Alexei Navalny, Felix Light, Gareth Jones Organizations: Wagner Group, Patriot Media, Kremlin, Russian, Kommersant, Patriot, Wagner, Russia, Thomson Locations: Belarus, United States, Russia, Ukraine, Africa, Ukraine's Crimea, Donbas

☆ Top 10 things to watch in the stock market Wednesday, including a Nvidia decline
▼ + stars: | 2023-06-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Handful of price target bumps on Snowflake (SNOW) following the company's investor day. Canaccord also catching up on its price target, cutting it to $720 per share from $953. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: MoffettNathanson, Oppenheimer, Mills, downgrades, Canaccord, Wolfe, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Street Journal, Nvidia, Walgreens Boots Alliance, Deutsch Bank, Barclays, JPMorgan, Club, Nike, Electric, GE, Paris Airshow, CNBC Locations: China, downgrades, Wells Fargo, Wells

☆ Ford's electric future looks bright, as the automaker doubles down on batteries and cuts costs
▼ + stars: | 2023-06-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

As CEO Jim Farley continues to rein in costs, Ford is preparing to enact a new round of layoffs in the coming weeks, according to a Wall Street Journal report Thursday. Nonetheless, news of the potential layoffs come after Farley told Jim this week that Ford still needs bring down costs at its EV division. The company has estimated its EV costs are roughly $7 billion higher than its competitors. F 1M mountain Ford stock performance month-to-date. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Farley, Ford, Jim Cramer, Farley, Jim, We're, Jim Cramer's, Rebecca Cook Organizations: Ford, U.S, Wall, U.S . Energy Department, SK, Blue, SK —, EV, it's EV, CNBC, Ford Motor Co, Amperex Technology Locations: Korean, U.S, Marshall , Michigan, Romulus , Michigan

☆ Jim Cramer looks at what investors can do as Wall Street enters 'profit-taking mode'
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 'Profit-taking mode' Wall Street was lower Wednesday, as investors monitored Federal Reserve Chairman Jerome Powell's congressional testimony. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jerome, Powell, haven't, Jim, Jim Cramer's Organizations: CNBC, Federal, House Financial Services, Investors, The Federal Trade, Amazon, Amazon Prime, Constellation Brands, Citigroup, Corona, Modelo, Constellation Locations: U.S

☆ 'I think we have to let it run,' Cramer says of this industrial powerhouse
▼ + stars: | 2023-06-07 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Watch Eli Lilly Eli Lilly (LLY) is set to present data on its earlier-stage diabetes-and-obesity drugs in the coming weeks, offering another potential upside catalyst for a stock that's already climbed nearly 40% over the past three months. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Caterpillar Watch Eli Lilly, Jim, Eli Lilly Eli Lilly, it's, Eli Lilly, Jim Cramer's Organizations: CNBC, Caterpillar Watch, Nasdaq, Meta, Microsoft, Nvidia, Caterpillar Construction, Caterpillar, Diabetes

We also see knock-on benefits for rival Club name Meta Platforms (META), which unveiled its latest headset last week. Overall, Vision Pro, which debuted at Apple's annual Worldwide Developers Conference Monday, should prove to be a net win for the Club portfolio. The stock market appears to be less impressed, with Apple stock under pressure since CEO Tim Cook presented the new devic e in a pre-recorded presentation Monday. Implications for Meta Vision Pro shouldn't be seen as a detriment to Meta's products , which currently dominant the AR/VR headset market. Apple CEO Tim Cook stands next to the new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California.

Persons: Tim Cook, it's, We're, Goldman Sachs, Davidson, That's, Jim Cramer, Morgan Stanley, Jim Cramer's, Jim, Justin Sullivan Organizations: Apple, holding's, Apple Watch, Club, Meta, Vision, Developers, Pro, D.A, Bank of America, IDC, Meta Vision, Unity Software, CNBC, Apple Vision, Apple Worldwide Locations: Cupertino , California

The Shenzhen-listed company, known for its flagship SF Express delivery business, has started preparations for the Hong Kong listing and aims to file the prospectus with the Hong Kong exchange by June, one of the sources said. SF Holding, which has a market value of 267 billion yuan ($38.63 billion), did not immediately respond to Reuters' request for comment. Bloomberg News on Friday first reported SF Holding's listing plans, citing people familiar with the matter. Its express delivery business covers nearly 100 countries overseas including the United States and Japan, according to its 2022 annual report. SF went public in Shenzhen in 2017 and listed two of its units - SF Real Estate Investment Trust (2191.HK) and Hangzhou SF Intra-City Industrial (9699.HK) - in Hong Kong in 2021.

PANW YTD mountain Palo Alto Networks YTD About half of the funds raised from this Lilly sale will go into building up our position in Palo Alto Networks . But here is our problem with reading too much into the conference calls of Tenable and Cloudfare and extrapolating that to Palo Alto. While it is highly likely that deal uncertainty increased out of the regional banking crisis, Palo Alto Networks is in a special class within the industry because it is taking share from the little guys. As a market leader in thirteen categories within security, Palo Alto is a winner from what is happening in the market. And with a management team committed to profitable growth and accelerating leverage in the business, we think Palo Alto Networks will continue to surprise to the upside.

The U.S. Treasury Department since 2020 has protected Citgo from creditors with claims against Venezuela, and its change of heart will allow claims to be settled by negotiation or through an auction of shares in Citgo parent PDV Holding. Citgo is PDV Holding's only asset. Houston-based Citgo is the seventh-largest U.S. oil refiner. Other creditors with at least $2.6 billion in claims against Venezuela have received conditional approvals to join the case. Pincus proposed starting the sales process on Sept. 5 with the highest bid reviewed by the court in June 2024.

☆ Sales, spins and splits — what are the differences and why do they matter for investors like us?
▼ + stars: | 2023-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +20 min

Investors may get one share in the spun-out entity for every share of the parent company they owned. What's left of J & J will be focused on pharmaceuticals and medical technologies, which were responsible for over 84% of the company's total 2022 revenue of $94.94 billion. It underscores that once free of the parent company tethers a divested company can chart its own destiny. Those priorities may not have necessarily been wrong when considering J & J as the overall enterprise. We believe J & J and Danaher are poised to deliver two more examples.

☆ De Bruyne rises to the occasion again for superb City
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +3 min

Arsenal came into the match stuttering from three draws while City, like all the great teams, were girding their loins for the last big push when the trophies are decided. And it was the Belgian midfielder who set the tone and then maintained it as City really should have reached halftime four or five up instead of 2-0. As is becoming the norm, De Bruyne was withdrawn by manager Pep Guardiola, as ever, looking disgruntled at the decision, as Holden pulled one back for the visitors before Haaland ensured City finished on a high. De Bruyne revelled in that freedom and City looked much more of a goal threat than so often when they patiently probe up and down the flanks trying to manoeuvre themselves into dangerous positions. “We know what people will say, but it is still seven games,” he said.

☆ Clarence Thomas didn't recuse himself from a 2004 appeal tied to Harlan Crow's family business, per Bloomberg
▼ + stars: | 2023-04-24 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +4 min

Clarence Thomas previously said his friend Harlan Crow had no business before the court. But a case involving Trammell Crow Residential made its way to the Supreme Court in 2005, per Bloomberg. Harlan Crow was CEO of Crow Holdings from 1988 to 2017, and remains chair of its board, per Bloomberg and The Real Deal. "At the time of this case, Trammell Crow Residential operated completely independently of Crow Holdings with a separate management team and its own independent operations," the statement to Bloomberg said. Neither Harlan Crow nor Crow Holdings had knowledge of or involvement in this case, and a search of Crow Holding's legal records reveals no involvement in this case.

☆ How ChatGPT and generative A.I. are already changing the way we book trips and travel
▼ + stars: | 2023-04-22 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +8 min

Already, generative AI is being experimented with inside the travel sector, albeit with mixed results. "Travel is fundamentally about connecting people and communities, and that human connection will always play a crucial role in the travel experience," Fogel said. It described ChatGPT "as a virtual travel assistant," allowing for more conversational interactions with Kayak's search engine. There may be not better example today of travel plan disruption than the airport experience. Breed predicts that at least some of the anxiety can be eliminated or mitigated by focused use of AI and generative AI tools like ChatGPT.

☆ Club meeting recap: Stocks fall, Emerson upgrade, Danaher readthrough
▼ + stars: | 2023-04-20 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stocks fall on earnings Emerson upgrade Danaher readthrough 1. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Ukraine says it seized assets of billionaire accused of aiding Russia
▼ + stars: | 2023-04-13 | by ( Max Hunder | ) www.reuters.com time to read: +4 min

The Security Service of Ukraine (SBU) has accused Novynskyi of "aiding" Russia, which invaded Ukraine last year. The representative, who did not want to be named, on Friday said the billionaire denies the charge. The SBU said it had seized assets including ownership deeds to 40 Ukrainian enterprises and 30 natural gas wells. "The property of pro-Russian oligarch Vadym Novynskyi, who is involved in aiding the aggressor country, was seized," the SBU said in a statement. The details of the accusations against him for aiding Russia have not been spelled out by the SBU.

☆ Chinese top hotpot chain's overseas unit sees profit this year
▼ + stars: | 2023-03-31 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

SINGAPORE, March 31 (Reuters) - The overseas unit of China's biggest hotpot chain Haidilao expects to return to profit this year, after posting almost 80% year-on-year growth in revenue for 2022 late on Thursday. Haidilao International Holding's (6862.HK) overseas unit, Super Hi International Holding (9658.HK), posted revenue of $558.2 million and a net loss of $41.3 million for 2022, compared with a loss of $150.8 million in 2021. Overall, we are satisfied with our performance in 2022, and optimistic with this year," Zhou Zhaocheng, 50, CEO of Haidilao's overseas unit told Reuters in an interview. The pace of opening new stores overseas this year would be similar to last year, when 17 new stores were added, Zhou said. Haidilao International Holding carved out its overseas units to form Super Hi International Holding and listed it in Hong Kong in December.

☆ China's Meizu unveils first smartphones since deal with Geely founder
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

A company run by Geely Chairman Eric Li took a majority stake in Meizu last year, making the Volvo owner the first established carmaker to enter the premium smartphone sector. He later named the company Xingji Meizu, with the brand as its smartphone arm. Other tech-auto partnerships in China include Huawei Technologies (HWT.UL), whose Harmony operating system powers Seres cars. Meizu, a two-decade-old Chinese consumer electronics company, rose to prominence early in the 1ast decade as an up-and-coming Chinese Android. ($1 = 6.8766 Chinese yuan renminbi)Reporting by Josh Horwitz, Zhang Yan and Brenda GohOur Standards: The Thomson Reuters Trust Principles.

☆ Salesforce, Caterpillar and Disney are in the news. Here's our take on the headlines
▼ + stars: | 2023-03-27 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +7 min

Meanwhile, analysts who cover Caterpillar (CAT) put out fresh research that cuts against our own thinking, and layoffs will soon begin at Disney (DIS). The Salesforce co-founder echoed the we-can-learn-from-everybody philosophy he laid out on March 1 in an interview with Jim Cramer. Salesforce shares, which rose modestly Monday, has surged more than 44% this year, the third-best performing Club stock behind Nvidia (NVDA) and Meta Platforms (META). Baird turns bearish on CAT CAT 1Y mountain Caterpillar's 12-month stock performance. "It's very hard to get in and out of CAT," Jim said Monday.

☆ Wealth managers ramp up staff in Hong Kong to chase Chinese demand
▼ + stars: | 2023-03-24 | by ( Summer Zhen | ) www.reuters.com time to read: +4 min

HONG KONG, March 24 (Reuters) - Wealth management firms are expanding operations aggressively in Hong Kong to meet pent-up demand from rich Chinese individuals looking to invest more money overseas after three years of COVID-19 curbs, industry sources said. Noah Holdings (NOAH.N), the largest independent wealth management firm in China, was among five private banks and wealth management firms Reuters talked to that said they held client events in the city and organised private art tours. Hywin Holdings (HYW.O), another Chinese wealth manager, invited 30 ultra-high-net worth clients to workshops, fund manager visits and even a yacht party in Hong Kong last week. Chinese financial institutions are vying for this growing wealth management business in Hong Kong. Chinese Everbright Bank and Hua Xia Bank set up private banking departments in Hong Kong in the past few months, according to sources familiar with their plans.

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