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☆ Vanishing short-sellers have helped push stocks to record highs. But beware a sharp negative reversal, JPMorgan says.
▼ + stars: | 2024-06-20 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Short bets against funds that track major US indexes have declined to record lows, JPMorgan said. As the S&P 500 and Nasdaq have hit a streak of record highs this year, short interest in funds that track the indexes has dropped, the bank said. AdvertisementFirst, short bets are expensive to maintain when a stock or fund is climbing, a risk that's especially relevant in today's bull run. Second, regulators have added restraints to short selling, by mandating transparency and adding costs to short sellers that target equities, JPMorgan said. According to JPMorgan, short positions are also disappearing from individual stocks, with a clear decline in the top seven leading equities.

Persons: —, Nikolaos Panigirtzoglou, Jim Chanos Organizations: JPMorgan, Service, Nasdaq

☆ With 10% yields, private credit looks attractive, says UBS. What you need to know before investing
▼ + stars: | 2024-06-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

There's a lot to like about private credit right now, according to UBS. "We still have defaults very low on the private credit side, lower than what we're seeing on public. "With private credit, you don't know how things might change going forward," she explained. While there are some good players in private credit, there are others who are not, he said. Investing in BDCs Another way to get exposure to private credit is by investing in the public stocks of the business development companies, or BDCs, that are doing the private lending.

Persons: Leslie Falconio, Falconio, Jamie Dimon, Dimon Organizations: UBS, Blackstone Private Credit Fund, Franklin BSP Private Credit Fund, SEC Locations: UBS Americas, Franklin, BDCs

☆ U.S. crude oil holds above $81 per barrel, on pace for second weekly gain in a row
▼ + stars: | 2024-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. crude oil held firm above $81 per barrel on Thursday, with the benchmark heading for its second weekly gain in a row. West Texas Intermediate has gained 4% this week, while global benchmark Brent is up 3.3%. JPMorgan is forecasting that Brent will hit $90 per barrel in September as the market tightens on falling inventories. Here are today's energy prices:Crude oil has proven resilient with upside momentum firming, Ryan McKay, senior commodity strategist at TD Securities, told clients in a research note Wednesday. Commodity trading advisors could ease up on buying and liquidate some of their length if U.S. oil drops below $80.33 and Brent falls under $84.92, McKay said.

Persons: Brent, Natasha Kaneva, Morgan, Ryan McKay, McKay Organizations: West Texas Intermediate, Brent, JPMorgan, TD Securities Locations: 3Q24

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

More than $200 billion in assets track the JPMorgan Emerging Market Index in which India will eventually have a weight of 10% by March 2025, suggesting total passive inflows of at least $20 billion over the 10-month period. Since there is no precedent for these debt index-related inflows, bankers' estimates of the timing of flows are based on similar index adjustments in the equity markets. "Obviously, all this is a first and you can't be sure how things will be," the head of trading at a large foreign bank cautioned. In anticipation, large foreign banks could look at building short dollar/rupee positions to help manage inflows when they happen, an FX trader at a foreign bank said. As a senior banker at a large foreign bank said: "all the pipes that have been put in place might not work."

Organizations: JPMorgan, Reserve Bank of India, FX Locations: India

☆ UK inflation is finally back at 2%. Here’s why rate cuts are still ‘off the table’
▼ + stars: | 2024-06-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

That suggests the Bank of England won’t follow the European Central Bank in cutting interest rates when it meets Thursday. A rate cut in August, when UK policymakers meet next, is now also less likely. Other economists, including analysts at Nomura, thought an August rate cut was still possible if pay rises and the price of services cooled further. “For an August rate cut, we will need other economic news to play ball,” the analysts wrote in a note. UK inflation peaked at 11.1% in October 2022, driven to a 41-year high by surging food and energy costs.

Persons: ”, Zara Noakes, Rebecca Florisson, Jake Finney Organizations: London CNN —, Bank of, Bank of England, European Central Bank, JPMorgan Asset Management, Nomura, “ Workers, Work Foundation, Lancaster University, PwC Locations: United Kingdom, England, United States, Europe

☆ The luxury conglomerate behind Cartier is beating LVMH at its own game
▼ + stars: | 2024-06-19 | by ( Madeline Berg | ) www.businessinsider.com time to read: +10 min

But there's another corporation beating LVMH at its own game, and you probably haven't even heard of it: Richemont. Switzerland-based Richemont, behind brands like Cartier, Van Cleef & Arpels, and Piaget, is having a moment. "All of this favors the most established brands: Cartier and Van Cleef." Driven by Richemont's top brands, Cartier and Van Cleef, sales gained 7% in the country, including Hong Kong and Macau, in Richemont's 2024 fiscal year. "If you're in a bar or restaurant, you're sitting at a distance, you can recognize the Labra pendant from Van Cleef.

Persons: —, Louis Vuitton, Bernard Arnault's, Van Cleef, Piaget, outperforming LVMH, Saint Laurent, It's, Cartier, Chiara Battistini, it's, Gucci, Arnault, Johann Rupert, Rupert, Richemont, Fflur Roberts, HSBC's Rambourg, Diana —, Tim Graham, Jelena Sokolova, Morningstar, Rambourg, Euromonitor's Roberts, Van, Keith Tsuji, Sokolova, Cleef, Nicolas Bos, — Bos, Nicholas Bos, Jared Siskin, I've, What's, JPMorgan's Battistini, Bos, Porter Organizations: Service, LVMH, Business, Cartier, Gucci, HSBC, Google, JPMorgan, Credit Suisse, Deloitte, Local, Art Basel, McKinsey, Prada Locations: Switzerland, China, Euromonitor, Hong Kong, Macau, Art Basel Hong Kong, Asia

☆ Sen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this country
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Warren: It's not the job of Jay Powell to carry water for the biggest banks in this countrySen. Elizabeth Warren (D-Mass.) joins 'Squawk Box' to discuss her letter to Fed Chair Jerome Powell questioning the Fed about closed door conversations with JPMorgan CEO Jamie Dimon advocating for slashing bank capital requirements in half, why she's accusing Powell of doing the financial industry’s bidding in considering changes to Basel III Endgame regulations, and more.

Persons: Email Sen, Warren, It's, Jay Powell, Sen, Elizabeth Warren, Jerome Powell, Jamie Dimon, Powell Organizations: Email Locations: Basel

☆ 10 things to watch in the stock market Tuesday including Nvidia price-target hikes
▼ + stars: | 2024-06-18 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

JPMorgan boosted its price target on shares of Apple to $245 each from $225 after the firm raised iPhone volume expectations in 2025 and 2026 due to artificial intelligence upgrades. More price-target hikes for Nvidia : Wells Fargo went to $155 a share from $125 at Wells Fargo while Rosenblatt Securities went to $200 from $140. Piper Sandler called the sell-off in Celsius Holdings overdone and reiterated its $90 price target and buy-equivalent rating. Meanwhile, Stifel increased its price target on the memory chipmaker's stock to $165 a share from $145 ahead of earnings June 26. Netflix 's price target raised to $750 a share from $700 by analysts at Loop Capital.

Persons: Wells Fargo, Piper Sandler, Kroger, Lennar, Netflix's, Jim Cramer's, Jim Cramer, Jim, Nvidia Piper Sandler, Merck Micron Lennar Piper Sandler Organizations: JPMorgan, Apple, Nvidia, Rosenblatt Securities, Holdings, BMO Capital, Kroger, Albertsons, Merck, Food and Drug Administration, Investors, Micron, Bank of, Netflix, Loop, NFL, Jim Cramer's Charitable, CNBC, Holdings BMO Capital, Merck Micron Locations: Wells, Bank of America's, Miami, U.S

JMP Securities reiterated its market outperform rating on CoStar Group, with its price target implying upside of nearly 50%. Canaccord Genuity, meanwhile, raised its price target on Elf Beauty. Elsewhere, JPMorgan raised its price target on Apple to $245 from $225. ET: JPMorgan raises Apple price target Apple's AI announcements could lead to bigger iPhone sales, according to JPMorgan. Analyst Michael Lavery reiterated his overweight rating and $90 price target on shares, which suggests a 50% gain from Monday's close.

Persons: Canaccord Genuity, Goldman Sachs, Alexander Duval, Duval, — Hakyung Kim, Samik Chatterjee, Chatterjee, Fred Imbert, Piper Sandler, Michael Lavery, Lavery, Canaccord, Susan Anderson, Anderson, Nicholas Jones, Jones, monetizing Homes.com, CSGP Organizations: CNBC, JMP Securities, JPMorgan, Apple, Walmart Locations: underperformance . U.S, Monday's, Canada

☆ Sen. Warren warns Powell against weakening banking regulations: ‘Do your job’
▼ + stars: | 2024-06-18 | by ( Hugh Son | ) www.cnbc.com time to read: +3 min

"I am disappointed by press reports indicating that you are personally intervening—after numerous meetings with big bank CEOs—to delay and water down the Basel III capital rules," said Warren. Last year, three U.S. banking regulators including the Federal Reserve unveiled the proposed rules, a long-expected regime shift around bank capital and risky activities such as trading and lending. The regulations incorporate new international standards created as a response to the 2008 global financial crisis. In March, Powell told lawmakers that he expected "broad and material changes" to the proposal in the wake of the industry's campaign against the rules. Warren urged Powell to allow a Federal Reserve Board vote on the original, tougher Basel proposal by the end of this month.

Persons: Sen, Elizabeth Warren, Jerome Powell, Warren, Powell, —, JPMorgan Chase, Jamie Dimon, Donald Trump Organizations: Senate Armed Services, Washington , D.C, Federal, CNBC, Federal Reserve, Bank, JPMorgan, Street, Fed Locations: Afghanistan, South, Central Asia, Washington ,, Basel, Basel III, U.S

☆ US announces major bust as efforts to crack down on Chinese money launderers working with drug cartels ratchet up
▼ + stars: | 2024-06-18 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +17 min

A US-based lawyer who has represented accused Chinese money launderers said the tempo of law enforcement operations against the alleged launderers has increased in recent weeks as federal agents close in on “bigger fish” among Chinese money launderers in the US. None of the federal law enforcement agencies involved in tracking Chinese money launderers agreed to be interviewed on the record. Grassley and Whitehouse have each introduced legislation they say is key to closing loopholes in US law that are actively exploited by the cartels’ money launderers. Elaborate networksRecent court documents illuminate how far-flung and elaborate US-based networks of alleged Chinese money launderers are. Mirror TransactionsExperts say the Chinese money launderers have mastered the art of so-called mirror transactions, which involve a series of deposits at multiple bank accounts to conceal the drug money.

Persons: ”, Anne Milgram, surveil, “, Don Im, Biden, HSI, Ricardo Mayoral, William Kimbell, ” Kimbell, launderers, —, Sen, Sheldon Whitehouse, ” Whitehouse, Treasury Department —, Whitehouse, Christopher Wray, Joe Biden, Xi Jinping, Republican Sen, Charles Grassley, Enhua Fang, Li Pei Tan, Tan, Joe Habachy, Matthew Rothbeind, Fang, Chaojie Chen, Chen, Greg Hunter, ” David Luckey, JPMorgan Chase Organizations: CNN, Drug, Administration, Sinaloa Cartel, US Court, Central, Central District of, DEA, IRS, “, Centers for Disease Control, Federal, Homeland Security, Treasury, Treasury Department, Treasury’s, Network, Homeland Security Investigations, DHS, Financial Crimes, Rhode Island Democrat, intel, Department of Homeland Security, FBI, Senate, ” CNN, White, Office of National Drug Control, Service, Biden, Republican, Grassley, Rand Corporation, of, JPMorgan Chase, Bank of America, JPMorgan, Organization Locations: California, Mexican, China, Mexico, Los Angeles, Sinaloa, Central District, Central District of California, Colombia, America, Oregon, Virginia, South Carolina, Washington, DC, North, Central America, —, Iowa, North Carolina, Belize, Chinese, Georgia, Chicago, Tulsa, East Coast, Detroit , Chicago, Ohio, Western, of North Carolina, Wells Fargo

☆ A lack of estate planning contributes to the racial wealth gap in homeownership. How JPMorgan is stepping in to help
▼ + stars: | 2024-06-18 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Owning a home can provide a way to build wealth that will transfer from one generation to the next. One such issue, known as heirs' property, happens when homeowners die without a will and informally leave property to multiple descendants. The non-formal ownership may make it difficult to pass on property, access government assistance in the event of a natural disaster and to qualify for property tax relief, according to research from JPMorgan Chase. JPMorgan Chase on Tuesday announced it is providing more than $9.6 million in philanthropic commitments to organizations that help preserve homeownership by addressing heirs' property issues, appraisal bias and the undervaluation of homes. Both heirs' property and appraisal bias disproportionately affect communities of color.

Persons: JPMorgan Chase Organizations: D.C, JPMorgan Chase, JPMorgan Locations: Parkland , Florida, Washington

☆ JPMorgan raises its EPS estimates for Apple, says stock could rise another 13%
▼ + stars: | 2024-06-18 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "We don't want to be too greedy after a parabolic move," said Jeff Marks, the CNBC Investing Club's director of portfolio analysis. 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, Jeff Marks, We're, Jim Cramer's, MSFT, DOV, Jim Organizations: CNBC, Broadcom, JPMorgan, Apple's Worldwide, Conference, Wall Locations: U.S, Dover

☆ Risk assets make sense as long as our base case remains soft landing, says JPMorgan's Priya Misra
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRisk assets make sense as long as our base case remains soft landing, says JPMorgan's Priya MisraPriya Misra, JPMorgan Asset Management fixed income portfolio manager, joins 'Squawk Box' to discuss the latest market trends, state of the economy, the Fed's rate path outlook, strength of the labor market, and more.

Persons: JPMorgan's Priya Misra Priya Misra Organizations: JPMorgan, Management

☆ Andy Sieg Could Be Citi's Next CEO If He Can Fix a Broken Wealth Business
▼ + stars: | 2024-06-17 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

Andy Sieg shocked the finance industry last spring when he left Merrill Wealth Management. AdvertisementBank of America analyst Ebrahim Poonawala recently argued that Citi should consider selling the wealth business if it cannot improve its profitability. AdvertisementWhile Sieg has told Citi managing directors to manage up less, a former Merrill executive who worked under him said Sieg was adept at it. Former Citi managing directorAdvertisementVahid's position will be taken by Kris Bitterly, the global head of investment products, in September. Mirroring tactics that supercharged Merrill, Sieg has changed Citi Wealth's compensation scheme to prioritize asset gathering, to the consternation of several employees.

Persons: Andy Sieg, Kevin Crain, Sieg, Crain, Jane Fraser, Fraser, Morgan Stanley, Merrill, Smith Barney, Ebrahim Poonawala, Wells, Mike Mayo, Brian Moynihan, Alex Wong, Moynihan, Fraser isn't, Mayo, anoint, Jamie Dimon, Jennifer Piepszak, Marianne Lake, Viswas Raghavan, Jane, He'd, George H, Bush, Bill Schreyer, Merrill Lynch, Dave Komansky, David Komansky, YOSHIKAZU TSUNO, Phil, Doug, Lord Abbett, David Poole, Citi's, there's, That's, Poole, Glenn Schorr, Jim O'Donnell, O'Donnell, Sieg's, Andy Sieg's, Naz Vahid, David Bailin, Bailin, Naz, Phil Waxelbaum, Vahid, Kris, Don Plaus, Keith Glenfield, Dawn Nordberg, Edward Jones, They're, Ernst & Young, he's Organizations: Merrill Wealth Management, Business, Citi, Bank of America, Morgan, BI, Merrill, Bank, Citigroup, JPMorgan, Harvard, Penn State, JPMorgan Advisors, United Arab, Citi . Citi, Work, Citi lifer, Former Citi, North, Citi Alliance, Citi Wealth, Bloomberg, Ernst &, Citizens Bank Locations: Sieg, Wells Fargo, Merrill, Bellefonte , Pennsylvania, Poole, Singapore, United Arab Emirates, Mexico, London, Aventura , Florida, Asia, Manhattan, North America

☆ CNBC Daily Open: Nasdaq record, $25 trillion Tesla?
▼ + stars: | 2024-06-17 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nasdaq recordThe Nasdaq Composite hit its fifth consecutive record close, while the S&P 500 and Dow Jones Industrial Average saw slight declines. Consumer sentiment dropped in June, but hopes for cooling inflation boosted the S&P 500 and Nasdaq by 1.6% and 3.2% respectively for the week. Caterpillar and Boeing dragged down the Dow, while Carnival and Norwegian Cruise Line were the biggest laggards on the S&P 500. Tempus AI debutTempus AI, an AI-driven health-care diagnostics company, rose as much as 15% in its Nasdaq stock market debut.

Persons: Elon Musk, Recep Tayyip Erdogan, Fatih Aktas, Pavan Davuluri, Eric Lefkofsky, Adobe, Shantanu Narayen, Pope Francis Organizations: Turkish, United Nations, UN, Anadolu Agency, Getty, CNBC, Nasdaq, Dow Jones, Caterpillar, Boeing, Dow, Cruise Line, Microsoft, Windows, Google, China, Seven, JPMorgan Locations: New York, United States, Carnival, Russia

☆ This ETF strategy may help investors skirt market concentration risk
▼ + stars: | 2024-06-15 | by ( Anna Gleason | ) www.cnbc.com time to read: +2 min

Investors worried about concentration risk in the market may want to consider value-oriented investments. Avantis' U.S. Large Cap Value ETF (AVLV) tracks the Russell 1000 Value index, but with a caveat — the fund managers screen stocks using a profitability overlay. After Apple and Meta , the Large Cap Value fund's next-largest holdings are JPMorgan , Costco and Exxon Mobil , according to FactSet. Avantis' Large Cap Value ETF is up 7.7% in 2024, as of Friday's market close. The Russell 1000 Value index gained 4.5% during the same period.

Persons: Phil McInnis, CNBC's, McInnis Organizations: Avantis Investors, Apple, Meta, JPMorgan, Costco, Exxon Mobil, Financial

☆ Investors are hoarding cash, a tidal wave of non-tech earnings is quietly rising, and 3 other fascinating takeaways from JPMorgan Asset Management's mid-year outlook
▼ + stars: | 2024-06-15 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Since then, those technology titans have crushed the rest of the market in earnings growth and returns. By contrast, the other 493 stocks in the S&P 500 saw their earnings fall in 2023. The firm is calling for 17% earnings growth in the fourth quarter, both for stocks in and out of the Magnificent 7. All 11 market sectors will enjoy earnings growth in Q4 for the first time since Q2 of 2021, according to JPMAM's projections. That includes healthcare, energy, and materials, which saw earnings decline earlier this year.

Persons: Tesla, Stocks, Santos, JPMAM Organizations: Asset Management, Apple, Meta, Microsoft, Nvidia

☆ CNBC Daily Open: Mega money Musk
▼ + stars: | 2024-06-14 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock Exchange in New York City, U.S., July 12, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The yield on the 10-year Treasury slipped after the producer price index unexpectedly fell. Reasonable debtJanet Yellen, U.S. Treasury Secretary, said the ballooning national debt that's currently at $34.7 trillion is manageable.

Persons: Elon, Judge Kathaleen McCormick, Janet Yellen, that's, Yellen, CNBC's Andrew Ross Sorkin, That's, Dow Jones, Donald Trump, Tim Cook, Jamie Dimon, BofA Organizations: New York Stock Exchange, CNBC, Dow, Nasdaq, Broadcom, Dow Jones, Musk, Treasury, Trump, Business, Capitol, Apple, JPMorgan Chase, Chipmaker Broadcom, Bank of America Locations: New York City, U.S, Delaware, Washington

Analyst Brian Essex upgraded Zscaler to overweight from neutral and raised his price target to $230 per share from $205. The bank upgraded the software stock to overweight from neutral on Friday, and raised its price target to $580 per share from $570. Champine reiterated a buy rating on the wholesaler and raised its price target to $940 per share from $890. The analyst upgraded shares of BofA to outperform from market perform and raised his price target to $46 per share from $37. He has an overweight rating and a price target of $52, implying upside of 20% over the next 12 months.

Persons: KBW, Piper Sandler, Pinterest, Brian Essex, Essex, — Brian Evans, Mark Murphy, Laura Champine, Champine, Keefe, David Konrad, Konrad, Brian Evans, Thomas Champion, Fred Imbert Organizations: CNBC, of America, JPMorgan, Security, Zero Trust Network Security, Adobe, Wall, Costco, Bank of America, Bank, America Locations: U.S, Los Angeles

☆ How Tesla Shareholders Upheld Elon Musk’s Sky-High Pay
▼ + stars: | 2024-06-14 | by ( Lily Boyce | Jason Karaian | ) www.nytimes.com time to read: +5 min

How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.

Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin

☆ Stocks making the biggest moves premarket: Adobe, Hasbro, GameStop and more
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

GameStop — The meme stock dipped 1.1% after Keith Gill, known as "Roaring Kitty," seemingly increased his ownership in GameStop. He appears to be holding 9.001 million GameStop shares and over $6 million in cash, according to a screenshot he posted to Reddit. JPMorgan upgraded shares to overweight from neutral on Friday, saying Adobe is poised for "smoother sailing ahead" after its strong quarterly print. Hasbro — Bank of America upgraded the toymaker to buy from neutral, sending shares 1.7% higher. On the other hand, the company saw $727 million in revenue, topping the $725 million estimate from analysts.

Persons: Keith Gill, Adobe, RH, LSEG, ZScaler, Alex Harring, Michelle Fox Theobald Organizations: GameStop, Adobe, JPMorgan, Hasbro — Bank of America, Wall, Boeing, New York Times, Federal Aviation Administration, Zero Trust Network Security

☆ Jim Cramer touts Adobe's place in AI race — plus, his latest thoughts on bank stocks
▼ + stars: | 2024-06-14 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Twilio : Shares dropped more than 2.5% after Morgan Stanley downgraded the communications software maker's stock to a hold-equivalent rating. The Investing Club owns Palo Alto Networks . Morgan Stanley is the other financial in the portfolio. "Morgan Stanley is more problematic to me," given the positioning of rival Goldman Sachs , Cramer said.

Persons: Jim Cramer's, They've, Jim Cramer, Morgan Stanley, Cramer, Keefe, Goldman Sachs Organizations: CNBC, Club, Wynn, Resorts, CNBC Investing, JPMorgan, Investing Club, Palo Alto Networks, Bank of America, Investing Locations: U.S, Carolina, Wells, Fargo

☆ Donald Trump is dangling tax cuts and less red tape to win over top CEOs
▼ + stars: | 2024-06-14 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Donald Trump met with some of America's top CEOs Thursday. The former president pledged to slash taxes and red tape in a bid to win over corporate America. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDonald Trump made his pitch to some of America's top CEOs Thursday, promising to cut taxes and red tape in a bid to win over corporate America.

Persons: Donald Trump, Tim Cook, Jamie Dimon, —, Bank of America's Brian Moynihan, Jane Fraser Organizations: Apple, JPMorgan, Service, America, Wall Street titans, Bank of America's, Citigroup, Business Locations: America, Washington ,

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