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[1/4] U.S. President Joe Biden delivers remarks on the economy at Arcosa, a wind tower manufacturing facility, in Belen, New Mexico, U.S., August 9, 2023. REUTERS/Jonathan ErnstBELEN, New Mexico, Aug 9 (Reuters) - U.S. President Joe Biden took his economic pitch to New Mexico on Wednesday to boast how his signature legislation helped turn a previously shuttered facility into a wind tower manufacturing facility. Biden said previous administrations promised to invest in U.S. manufacturing, only to see jobs and capital move abroad. Antonio Carrillo, CEO of Arcosa (ACA.N), said his company and the wind power industry were struggling before the infusion of new funds from Washington. After the IRA passed, he said he received its biggest order for wind towers.
Persons: Joe Biden, Jonathan Ernst BELEN, Biden, invigorate, ” Biden, Antonio Carrillo, Nandita Bose, Jeff Mason, Jarrett Renshaw, Simon Cameron, Moore, Jonathan Oatis Organizations: REUTERS, Democrat, Republican, Reuters, Thomson Locations: Arcosa, Belen , New Mexico, U.S, New Mexico, American, America, Washington
We're selling 200 shares of Halliburton (HAL) at roughly $40.64 each Following Wednesday's trade, Jim Cramer's Charitable Trust will own 1,400 shares of HAL, decreasing its weighting to 1.97% from 2.24%. HAL YTD mountain Halliburton YTD performance Supporting the energy trade of late has been the impressive recovery in oil and natural gas . The recent move in HAL and our energy stocks has us feeling a little greedy about our three positions, which also at one point this year were in the red. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. A Halliburton oil well fielder works on a well head at a fracking rig site January 27, 2016 near Stillwater, Oklahoma.
Persons: Jim Cramer's, Halliburton, We'll, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Technology, West Texas, Coterra, Natural Resources, CNBC, Getty Locations: Stillwater , Oklahoma
Around $180 billion of Apple's (AAPL) market value has been incinerated since the tech giant reported quarterly results last week — a reaction we consider overblown for this own-it, don't-trade-it stock. Apple's market cap is now under $3 trillion after a string of losses before and after last week's earnings. AAPL YTD mountain Apple's YTD performance Late last Thursday , Apple posted strong Services sales, but missed on Products. Overall revenue for the company's fiscal third quarter of $81.8 billion fell 1% year-over-year but beat out expectations of $81.69 billion. Apple shares received a rare downgrade from Wall Street following the earnings numbers.
Persons: Apple, Barton Crockett, Crockett, Jim Cramer, Jim, Tim Cook, Morgan Stanley, Jim Cramer's Organizations: Products, Apple, Rosenblatt Securities, Big Tech, Silicon, JPMorgan, Bears, CNBC, Getty Locations: Tuesday's, U.S, Cupertino , California, Big Tech, India, Shanghai, China
The three-day online poll, which asked Americans if they approve or disapprove of the way Biden is handling his job, matched the July reading of 40%. The economy, unemployment and jobs remained Americans' top concern with a fifth of respondents citing that as the most important problem facing the U.S. today. A separate Reuters/Ipsos poll last week found that worries about the economy could cost Biden support in the 2024 election, when he faces a likely rematch with Republican former President Donald Trump. The latest poll's approval rating for Biden of 40% was just four points higher than the 36% lows he hit in mid-2022. The Reuters/Ipsos poll was conducted online, in English, Aug. 4-6 and collected responses from 1,032 adults, using a nationally representative sample.
Persons: Joe Biden, Kevin Lamarque, Joe Biden's, Biden, White, Donald Trump ., Josephine Walker, Scott Malone, Alistair Bell Organizations: Social Security, Medicare, OB Johnson, Community Center, REUTERS, Reuters, Democratic, Republican, Thomson Locations: Hallandale Beach , Florida, U.S
UBS is moving to the sidelines on shipping giant UPS while the company tries to improve margins. The firm downgraded the shipping giant to neutral from buy on Wednesday and lowered its price target to $185 from $198. UPS said the cost of a new labor contract with employees would weigh on shipping volumes. The analyst lowered his 2023 and 2024 earnings per share forecasts by 12% to reflect the margin pressure. UPS YTD mountain UPS stock has added 3.8% so far in 2023.
Persons: Thomas Wadewitz, Wadewitz, — CNBC's Michael Bloom Organizations: UBS, UPS Locations: 2Q24
Mets meet Cubs, look to put together win streak
  + stars: | 2023-08-08 | by ( Field Level Media | ) www.reuters.com   time to read: +3 min
August 8 - A season that began with World Series aspirations turned into a nightmare long ago for the New York Mets. Alonso, Lindor and the Mets will look to earn a rare series win Tuesday night when New York hosts the Chicago Cubs in the middle game of a three-game set. The Mets snapped a six-game losing streak Monday night when Alonso matched career highs with two homers and six RBIs in an 11-2 victory. "It's a hard game," Cubs manager David Ross told MLB.com. Taillon earned the win on Thursday, when he allowed two runs over five innings in the Cubs' 5-3 victory over the Reds.
Persons: Pete Alonso, Francisco Lindor, Alonso, Lindor, Carlos Carrasco, Jameson Taillon, Brandon ) Nimmo, Buck Showalter, David Ross, Carrasco, Taillon Organizations: New York Mets, Mets, New York, Chicago Cubs, Kansas City Royals, Baltimore Orioles, New York Yankees, Washington Nationals, National League, Cubs, Chicago, Cincinnati Reds, Miami Marlins, The Cubs, Royals, Reds, Thomson Locations: New York
All of this frenzied activity unfolding on one day represents just a snapshot of the complex legal morass now surrounding Trump. And while Monday was notable for a head-spinning sequence of legal maneuvering, it did not even encompass all of the pending cases against Trump. When it comes to Smith’s indictment, Trump’s lawyers are arguing that he was within his rights to claim the election was stolen. Trump’s legal plight reverberates in 2024 campaignAny normal political candidate would have seen their political ambitions crushed by even one of the cases in Trump’s bulging portfolio of legal jeopardy. Thanks to Trump’s unfathomable and widening legal nightmare, nothing about the 2024 election is going to be anywhere near normal.
Persons: quagmire, Donald Trump, Joe Biden’s, It’s, he’s, Biden, Jack Smith’s, Trump, Bernie Kerik, Rudy Giuliani –, , Jean Carroll, Walt Nauta, Aileen Cannon’s, Gov, Geoff Duncan, Smith, Nancy Pelosi, Mitch McConnell, I’m, Tanya Chutkan, Mike Pence, Chutkan, Barack Obama, reverberates, Ron DeSantis, DeSantis, ” Trump, Pence, Trump’s Organizations: CNN, Republican, Trump, GOP, House, New, FBI, Trump’s, Justice Department, US, soccer, Prosecutors, Capitol, Republican Party, Florida Gov, NBC, White Locations: Georgia, Washington, New York City, Manhattan, West Palm Beach , Florida, Atlanta, Trump, , West Virginia, Chutkan, Fulton County , Georgia, New Hampshire, Iowa
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating after Apple's quarterly 10-Q report. Morgan Stanley upgrades Laureate to overweight from equal weight Morgan Stanley said the education company is a beneficiary of nearshoring. Morgan Stanley reiterates Palo Alto Networks as overweight Morgan Stanley said the company has a "differentiated" and "disruptive" platform. " UBS reiterates Berkshire Hathaway as buy UBS said it's standing by its buy rating on shares of Berkshire after its earnings report Saturday. Morgan Stanley reiterates Cinemark as overweight Morgan Stanley said it's standing by its overweight rating on Cinemark as the success of "Barbie" and "Oppenheimer" has "squashed" the theatrical bear case.
Persons: Morgan Stanley, Apple, DA Davidson, Andy Jassy, Wells, Holley, it's, Raymond James, Charles Schwab, Schwab, EchoStar, Guggenheim, Berkshire Hathaway, Cinemark, Oppenheimer, Truist, Piper Sandler, Piper, MNST, Wright Organizations: UBS, Meta, Facebook, Bank of America, Nvidia, U.S ., Networks, Alto Networks, United Airlines, Berkshire, Comcast, CNBC, Monster Beverage Locations: WhatsApp, nearshoring, United, Berkshire, NBCUniversal
Mattel wants a "Chief Uno Player" to hype another of its brands after the "Barbie" movie's success. One can only hope this Uno hype isn't a precursor to an Uno movie. One can only hope this Uno hype isn't a precursor to an Uno movie. Either way, good luck to the Chief Uno Player-to-be. And if you get the job, please be sure to lobby Mattel to keep Uno off the big screen, for all our sakes.
Persons: Uno, Barbie, we've, Margot Robbie, Ryan Gosling, one's, There's, anthropomorphized Uno Organizations: Mattel, UNO, Uno, anthropomorphized Locations: New York
How Cooking Videos Took Over the World
  + stars: | 2023-08-07 | by ( Priya Krishna | Umi Syam | ) www.nytimes.com   time to read: +9 min
Cooking videos have never been more persuasive, more inescapable, more addictive, more entertaining. How Cooking Videos Took Over The WorldVideos on TikTok with the #foodtok hashtag have been viewed more than 64 billion times. But cooking videos are not only an unavoidable part of being online — they’ve also infiltrated physical spaces. That is what makes these videos so engaging.”Today, there isn’t just one way to make a successful cooking video. But the evolution of cooking videos represents a broader shift: Algorithms and artificial intelligence increasingly drive everyday behaviors and can stifle creativity.
Persons: they’ve, Julia Child, Joyce Chen, , Ashley Rose Young, , John Gara, … TikTok, Covid, Sunny Xun Liu, , Bennett, Hetal Vasavada, soothingly, Althea Brown, Frankenfood, Gara, Bacon, Ahmad Alzahabi, Liu, Vasavada, that’s, they’re Organizations: Department of Motor Vehicles, Smithsonian Institution, Food Network, “ East, YouTube, Facebook, Stanford Social Media, Locations: New York City, United States, TikTok, Denver
Orioles shooting for sweep of sputtering Mets
  + stars: | 2023-08-06 | by ( Field Level Media | ) www.reuters.com   time to read: +3 min
"It's really fun to have the fans there to support us, and it's really fun to be out there," Orioles outfielder Anthony Santander said. The Orioles go into Sunday afternoon's game against the visiting New York Mets looking to add to their latest surge of six wins in their last seven games. "The energy in the ballpark the entire game was fantastic," Orioles manager Brandon Hyde said, referring to the atmosphere surrounding Saturday night's 7-3 win. "Not where I want to be, not where the team wants to be. Left-hander Jose Quintana (0-2, 3.57) gets the call for the Mets in just his fourth big-league game of the season.
Persons: Anthony Santander, Brandon Hyde, They've, We're, Hyde, Jeff McNeil, McNeil, Kyle Bradish, Jose Quintana, Jimmy Yacabonis, John Curtiss, Reed Garrett, Colton Cowser Organizations: Baltimore Orioles, Orioles, New York Mets, American League East, Baltimore, Miami Marlins, Mets, Triple, Thomson Locations: Syracuse, Baltimore
GM vows to boost jobs next year despite EV shift
  + stars: | 2023-08-04 | by ( David Shepardson | ) www.reuters.com   time to read: +3 min
GM, Ford Motor (F.N) and Chrysler-parent Stellantis last month opened contract talks with the United Auto Workers (UAW) union ahead of the Sept. 14 expiration of the current four-year labor deals. GM manufacturing chief, Gerald Johnson, said on Friday he did not agree it would need fewer workers for EV production. Separately, CFRA Research on Friday downgraded GM on concerns about a possible strike after the UAW sought large pay and benefit hikes. The UAW wants new limits on temporary workers and for them to receive profit sharing. Sources said the union wants the companies to agree to the equivalent of a paid day-off per week, at a time of growing trials globally of a four-day working week.
Persons: Joe Biden, Jonathan Ernst, autoworkers, Gerald Johnson, Johnson, Ford, Stellantis, Shawn Fain, David Shepardson, Marguerita Choy Organizations: Hummer, Motors, REUTERS, General Motors, GM, Ford Motor, Chrysler, United Auto Workers, UAW, EV, Research, Company, U.S, Thomson Locations: Detroit , Michigan, U.S
Six percent of Biden's 2020 voters picked Trump. Forty-two percent of Biden's 2020 voters in the poll said the economy was "worse" than it was in 2020, compared to 33% who said it was "better" and 24% who said it was "about the same." Most of Biden's 2020 voters in the poll - 78% - said they approved of his performance as president, well above his 40% approval rating among all respondents. But a critical division exists among Biden's 2020 voters. When poll respondents were asked to describe how much Biden and his administration have invested in the U.S. economy, 35% of Biden's 2020 voters selected the option "not enough."
Persons: Joe Biden, Jonathan Ernst, Biden, Donald Trump, Chris Jackson, Jackson, Jason Lange, Andrea Shalal, Scott Malone, Conor Humphries Organizations: Auburn Manufacturing, REUTERS, U.S, Reuters, Republican, Biden, Trump, Democratic, White, Thomson Locations: U.S, Auburn , Maine, Arizona, New Mexico, Utah
A version of this story appeared in the August 4 edition of CNN’s Royal News, a weekly dispatch bringing you the inside track on Britain’s royal family. We recently found out that Prince Harry will also be grabbing his passport and heading to the Southeast Asian nation for his own charitable cause. The Duke of Sussex will be competing in his Sentebale charity’s annual polo match there next weekend. Meghan, Duchess of Sussex attends the Sentebale Polo Cup 2018 in Windsor, England. It was also at a polo match in Windsor in 1970 where a young Prince Charles reportedly first met Camilla Shand and they became friends.
Persons: Prince, Wales, Prince Harry, Duke, Sussex, Harry, Prince Seeiso, Duke of Sussex, Dominic Lipinski, Nacho Figueras, Haruhisa Handa, Handa, Meghan, Duchess of Sussex, Samir Hussein, Prince William, , William, Catherine, Max Mumby, Barack Obama, Prince George, King Charles, Prince Philip, Prince Charles, Camilla Shand, Love, Prince Archie, George, Charlotte, Louis Organizations: CNN’s Royal, London CNN, Kasane, Singapore Polo Club Team, Promotion Society, Values, Polo Cup, Polo, cyberbullying, Technology, Power, New, Royal, Polo Day, Billingbear Polo Club Locations: London, Singapore, Lesotho, Africa, Botswana, Lion City, Tokyo, Our, Windsor , England, New York, Persia, Windsor, Surrey, England
The Germans drew 1-1 with South Korea on Thursday, ending up third in their group at the tournament in Australia and New Zealand. Their shock exit comes just eight months after the men's team suffered a second consecutive World Cup group stage elimination with a disastrous run in Qatar. "I think the thrill of anticipation (for the Euro) will come," DFB president Neuendorf told German broadcaster ZDF on Friday. "I am confident that we will achieve this euphoria, that it will come," Neuendorf added. His team have won just one of their last five matches since their World Cup exit in December.
Persons: Lena Oberdorf, Nicole Anyomi, Alexandra Popp, Dan Peled BERLIN, Bernd Neuendorf, Neuendorf, Hansi Flick, Karolos, Christian Radnedge Organizations: Soccer Football, FIFA, Brisbane Football, World, FA, DFB, ZDF, Thomson Locations: New Zealand, South Korea, Germany, Brisbane, Australia, Qatar, German
A Huawei logo is seen on a cell phone screen in their store at Vina del Mar, Chile July 18, 2019. REUTERS/Rodrigo Garrido/File photoBERLIN, Aug 4 (Reuters) - Germany's national railway operator would have to spend up to 400 million euros ($437.44 million) to replace all the components in its infrastructure supplied by Chinese tech giant Huawei Technologies [RIC:RIC:HWT.UL], Spiegel magazine reported on Friday. Deutsche Bahn, which is state-owned, would face delays of five to six years for its projects if the German government decided to ban Huawei components in the short term, the report said, citing an internal company document. A spokesperson for Deutsche Bahn said the company would not comment on internal documents. Any decision to ban Huawei outright would likely draw an angry response from Beijing, with the Chinese foreign ministry having urged Berlin to act in line with its own interests and international rules.
Persons: Rodrigo Garrido, Rachel More, Miranda Murray Organizations: Huawei, Vina del, REUTERS, Huawei Technologies, Spiegel, Deutsche Bahn, Deutsche Telekom, Thomson Locations: Vina del Mar, Chile, BERLIN, Beijing, Berlin
Next job-market challenge: the Great Unresignation
  + stars: | 2023-08-04 | by ( Ben Winck | ) www.reuters.com   time to read: +4 min
The U.S. economy has weathered inflation without widespread layoffs so far, but a Great Unresignation could make seemingly healthy job numbers harder to read. But a big input in firms’ hiring plans is “attrition” – the number of workers expected to quit. The so-called quit rate in the finance and insurance sector dropped to 1.1%, well below a peak of 2.4% in April 2022. Wells Fargo flagged “slower than expected” attrition as a driver of higher severance costs during the bank’s July 14 earnings call. The U.S. economy added 187,000 nonfarm payrolls in July, the Bureau of Labor Statistics said on Aug. 4.
Persons: haven’t, Wells, That's, , John Foley, Sharon Lam Organizations: Reuters, Wall, Bureau of Labor Statistics, Companies, of Labor Statistics, Citigroup, payrolls, Thomson Locations: U.S, United States
In a jam-packed week of earnings, the Club executed multiple trades and elevated price targets for some of our biggest stocks. Following AMD's better-than-feared Q2 release late Tuesday, we raised our price target on the stock to $135 per share from $120. Wednesday On this relatively calm day, we reiterated our 1 rating and $110 price target on shares of Emerson Electric (EMR). Against this bullish backdrop, we raised our price target on Amazon to $160 per share, up from $140. Our previous price target was $185.
Persons: Here's, Johnson, Stanley Black, Decker, Jim Cramer, AMD's, Emerson, , it's, Eli Lilly, LLY, Walt Disney, We'll, Jim Cramer's, Jim, Jim Cramer Rob Kim Organizations: Club, Microsoft, GE Healthcare, GE, Honeywell International, Caterpillar, Devices, Honeywell, Turnaround, AMD, Emerson Electric, National, Big Tech, Apple, Coterra Energy, Wynn Resorts, WYNN, Jim Cramer's Charitable, CNBC Locations: MSFT, GEHC, Missouri
TD Cowen upgrades Ross to outperform from market perform TD Cowen said consensus is "underestimating [a] margin recovery" for Ross. TD Cowen downgrades Columbia to market perform from outperform TD Cowen said demand looks muted for Columbia Sportswear . Bernstein downgrades Etsy to market perform from outperform Bernstein said it's concerned about slowing growth. Piper Sandler reiterates Crocs as overweight Piper Sandler said the shoe company is "underpinned by +DD [double digit] earnings growth and compelling valuation." Citi reiterates Apple as buy Citi said it's standing by its buy rating heading into Apple earnings after the bell.
Persons: TD Cowen, Ross, Cowen, Bernstein, Etsy, it's, Piper Sandler, Crocs, CROX, QCOM, Jefferies, Simon, Telsey, Roblox, Morgan Stanley, Robinhood, Janney, Coke Organizations: TD Cowen downgrades Columbia, Columbia, Buyers, Citi, Deutsche Bank, Qualcomm, Apple, Simon, Bank of America, UBS, Costco Locations: underperform, Wingstop, 1Q22
He's using a regular brokerage account and a solo 401(k) with pre- and after-tax advantages. Late last year, he decided he wanted to build a retirement portfolio worth $2 million that he could track and others could follow along. To date, he has $47,400 in a brokerage account and $72,774 in a retirement account, according to records viewed by Insider. This account has four sections: dividend stocks, technology stocks, risky stocks, and the S&P 500. These stocks account for 35% or about $17,000 in this account.
Persons: Austin Hankwitz, Hankwitz, Roth, I've, Crocs, doesn't Organizations: Lowe's Companies, Apple, Microsoft, Google, Palo Alto Networks, Costco, Vanguard Locations: Wall, Silicon, TikTok
Revenue in Apple's fiscal third quarter of $81.8 billion edged down 1% but edged out expectations of $81.69 billion. Gross margin was 44.5%, expanding 126 basis points from a year ago and coming in slightly above the 44.3% estimate. However, as we've noted before, the installed base represents the outlet for Apple's higher margin, recurring revenue Services business. Cash flow & capital allocation In its June quarter, Apple generated operating cash flow and free cash flow results that were well above what the Street was looking for. Guidance For the current September quarter, Apple expects year-over-year revenue performance to be similar to the June quarter, assuming no worsening macro outlook.
Persons: we've, Apple, we're, it's, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Services, Management, Greater, Apple Watch, CNBC, Nurphoto, Getty Locations: Greater China, Europe, Americas
It's clear now more than ever that living longer is heavily influenced by lifestyle choices like diet and exercise, but a recent unpublished study found that certain habits can add more than 20 additional years to your life. The research, presented last month at the American Society for Nutrition's annual meeting, found that practicing eight healthy habits at age 40 was associated with an additional 24 years of life for men. Women saw similar benefits from incorporating the practices in their lives at age 40, with 21 extra years added to their lives. "We were really surprised by just how much could be gained with the adoption of one, two, three, or all eight lifestyle factors," said Xuan-Mai Nguyen, lead study author and health science specialist at the Department of Veterans Affairs, in a press release. "The earlier the better, but even if you only make a small change in your 40s, 50s, or 60s, it still is beneficial."
Persons: Xuan, Mai Nguyen Organizations: American Society, Department of Veterans Affairs
Former U.S. President Donald Trump enters Erie Insurance Arena for a political rally while campaigning for the GOP nomination in the 2024 election on July 29, 2023 in Erie, Pennsylvania. Decrying President Joe Biden as "crooked" and federal prosecutor Jack Smith as "deranged," Trump in a social media post late Wednesday said he hoped the criminal case would be moved to "an impartial Venue, such as the politically unbiased nearby State of West Virginia!" Trump won West Virginia by more than 30 points in the 2020 election. The former president's post on Truth Social came just hours before he was expected to travel to D.C. for a 4 p.m. ET appearance before a federal magistrate judge at the E. Barrett Prettyman courthouse.
Persons: Donald Trump, Trump, Joe Biden, Jack Smith, Barrett Organizations: U.S, Erie Insurance, GOP, Trump, Washington, D.C, West Virginia, Truth Social Locations: Erie , Pennsylvania, State, West Virginia, Washington
There were hints of a similar strategy in the first hearing in the election subversion case. Key prosecutors make their public debutThursday marked the public debut of the Smith team that will handle the election subversion prosecution. Smith himself attended the hearing, as he did for Trump’s first appearance in the classified documents case in Florida earlier this year. Windom – who moved from the US attorney’s office in Maryland to play a central role in the federal election subversion investigation, spoke on behalf of the government Thursday. In the election subversion case, Trump’s attorneys have previewed arguments that the case should be moved elsewhere, given the city’s political bent.
Persons: Donald Trump, Trump, Jack Smith’s, Smith, John Lauro, they’ll, ” Lauro, Thomas Windom, Tanya Chutkan, Fani Willis, There’s, Jean Carroll, Windom –, Molly Gaston, Gaston, Steve Bannon, Rick Gates –, , Paul Manafort, Lauro, Todd Blanche, Blanche, Evan Corcoran, He’s, he’ll, didn’t, , he’s Organizations: CNN, Trump, Republican, Fulton, New, DC US, Justice Department, Trump . New Trump, Capitol, Metropolitan Locations: Washington, DC, Georgia, Fulton County, Manhattan, New York, Florida, Maryland, Manhattan’s, egging
Shares of Moderna rose Thursday after the biotech company hiked its full-year outlook for its Covid vaccine, its only marketable product, despite reporting a quarterly loss and sharp drop in revenue. But Moderna hopes to end the sales slump on strong demand for its updated Covid vaccine targeting the omicron subvariant XBB.1.5. The forecast includes around $4 billion in previously announced Covid vaccine purchase agreements and $2 billion to $4 billion in "signed and anticipated" contracts in the U.S. and other markets. Pfizer on Tuesday warned that Covid shot sales in the commercial market are uncertain, adding that vaccination rates will help the company better predict sales for 2023 and beyond. ET, which will likely provide more updates on its upcoming Covid vaccine rollout and drug pipeline.
Persons: Novavax haven't, Mandy Cohen Organizations: Moderna, Pfizer, Novavax, Food and Drug Administration, NPR, Merck Locations: U.S, Union, Massachusetts, Covid
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