DIRS.INFO The most relevant business & tech news

☆ RBC downgrades Carvana, says sell the car retailer even after its recent earnings beat
▼ + stars: | 2023-07-20 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

RBC Capital Markets thinks it's time to sell Carvana even after its recent earnings beat. Analyst Brad Erickson downgraded Carvana to underperform from sector perform, saying any upside from the online auto retailer's better-than-expected second-quarter results is more than priced in. "CVNA's better Q2 results, debt restructuring & newly enabled access to equity capital reduced liquidity risks once again — a big positive for the stock. CVNA 1D mountain Carvana shares 1-day The downgrade comes after the company's earnings results Wednesday topped estimates on the top and bottom lines. Carvana reported a loss of 55 cents per share, lower than $1.15 per share expected by analysts polled by Refinitiv.

Persons: Brad Erickson, Carvana, Erickson, Carvana's, —, we'd, — CNBC's Michael Bloom Organizations: RBC Capital Markets, Refinitiv . Revenue Locations: underperform, Wednesday's

☆ Morgan Stanley upgrades Anheuser-Busch InBev, says it's attractive valued after Bud Light controversy
▼ + stars: | 2023-07-20 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Anheuser-Busch InBev is a buying opportunity even after its controversial handling of a social media campaign involving a transgender influencer, according to Morgan Stanley. Simon called the parent company behind Bud Light a top pick that's attractively valued after its decline this year. "We see a very favourable risk reward underpinned by attractive valuation," Simon wrote to clients on Thursday. BUD 1D mountain Anheuser-Busch InBev shares 1-day The analyst raised her price target to $68.50 from $64, which represents about 17% upside for Anheuser-Busch InBev from Wednesday's closing price. Anheuser-Busch InBev has come under pressure in the U.S. this year after it partnered with transgender influencer Dylan Mulvaney for promotions of Bud Light.

Persons: Morgan Stanley, Sarah Simon, Simon, Bud Light, Bud, BUD, influencer Dylan Mulvaney, — CNBC's Michael Bloom Organizations: Anheuser, Busch InBev, Busch, Brewers Locations: U.S

☆ Analysts take Tesla results in stride, but margin concerns remain
▼ + stars: | 2023-07-20 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Wall Street is holding onto its outlook on Tesla after it delivered a solid earnings report that nevertheless showed weaker margins after the company's aggressive price cuts. The electric vehicle maker reported revenue of $24.93 billion, beating the consensus estimate of $24.47 billion, according to Refinitiv. "We believe this was a solid 2Q report with Tesla taking market share and slightly exceeding our automotive non-GAAP margin estimate (and beating in Energy/Services)," Delaney said Wednesday. "However, we believe there could continue to be margin headwinds in the intermediate term if Tesla lowers prices to support higher volumes." "Ultimately, the weaker gross margin highlighted the impact of TSLA's aggressive price cutting and, at 9.6%, its operating margin is now approaching the level of incumbent original equipment manufacturers (OEMs)," he added.

Persons: That's, Elon Musk, Tesla, Goldman Sachs, Mark Delaney, Tesla's, Delaney, Bank of America's John Murphy, Murphy, Morgan Stanley's Adam Jonas, Jonas, — CNBC's Michael Bloom, Lora Kolodny Organizations: Wall Street, Tesla, Energy, Services, Bank of America's

North Korea's state media, which in the past reported on the detention of U.S. nationals, have also not commented on the incident so far. "I don't think anyone who was sane would want to go to North Korea, so I assumed it was some kind of stunt." State Department spokesman Miller said Sweden has been engaged as it acts as a diplomatic channel for Washington which remains technically at war with North Korea. North Korea has previously detained Americans who entered the country and put them on trial but eventually released them, often following high-level diplomatic intervention. A former North Korean diplomat who defected to South Korea said King may be used as a propaganda tool, but it was not clear how long North Korea would want to exploit his presence.

Persons: Kim Hong, Ji, Travis T, Matthew Miller, King, Sarah Leslie, Miller, Karine Jean, Pierre, Biden, Otto Warmbier, hyang Choi, Phil Smith, Steve Holland, Jack Kim, Ed Davies, Lincoln Organizations: REUTERS, State Department, Pentagon, Korean People's Army, North, Joint Security Area, New Zealand, Reuters, . State, U.S, United Nations Command, Thomson Locations: Panmunjom, South Korea, U.S, Sweden, North Korea, SEOUL, WASHINGTON, Washington, Pyongyang, North, United States, New, Korea, Korean, Seoul

☆ The 6 best credit cards to use for Costco purchases in 2023
▼ + stars: | 2023-07-19 | by ( Juan Ruiz | ) edition.cnn.com time to read: +13 min

Let’s take a look at what types of credit cards Costco accepts and the best credit cards for Costco purchases, whether you’re looking for financing, cash back or travel rewards. The best credit cards for Costco in 2023How did we choose our best credit cards when shopping at Costco in 2023? Best for Costco loyalists: Costco Anywhere Visa Card by CitiUse this credit card to earn bonus cash back on gasoline purchases, both at Costco and other gas stations. Best for travel rewards: Capital One Venture Rewards Credit CardEarn travel rewards on your Costco purchases with the Capital One Venture card. These premium Chase cards include the Chase Sapphire Preferred® Card, Chase Sapphire Reserve® Card, or Ink Business Preferred® Credit Card.

Persons: it’s, It’s, cardholders, Read, Cash Organizations: CNN, American Express, Costco, Getty, Mastercard, American, Google, Samsung, Citi, EV, Read CNN, Wells, Costco Wholesale Clubs, Capital One Venture, One Venture, Venture, Capital, Chase, Sapphire, Ink Business, Ink, Cash, Citi Travel, Card, Citi Prestige ® Locations: drugstores

She was among some 40 other tourists who were walking around and taking photos in the moments before King made a dash to North Korea. "I don't think anyone who was sane would want to go to North Korea, so I assumed it was some kind of stunt," she told Reuters. North Korea is likely to milk the border crossing by a U.S. soldier for propaganda purposes but will probably not be able to gain political leverage, analysts and a former North Korean diplomat said. The notable exception was U.S. college student Otto Warmbier, who died in 2017 shortly after being released from a North Korea prison. Still, analysts suggested that King's stay in North Korea could be lengthy.

Persons: Travis T, King, Carl Gates, Gates, Travis, Sarah Leslie, Leslie, Tae Yong, Andrei Lankov, Otto Warmbier, Lankov, It's, Victor Cha, Josh Smith, Matt Spetalnick, Don Durfee, Sandra Maler Organizations: U.S . Army, The Korea Times, U.S, Cavalry, Korean, Force, National Defense Service, Korean Defense, Overseas Service, Daily, Joint Security Area, Reuters, South, Korea Risk Group, Center for Strategic, International Studies, Thomson Locations: SEOUL, WASHINGTON, South Korea, Washington, North, Seoul, Fort Bliss , Texas, North Korea, Racine , Wisconsin, New Zealander, U.S, North Korean, Korea, Korean, Korea's, Pyongyang

☆ The tech sector is officially in a bubble, and Citi says investors should join the hype
▼ + stars: | 2023-07-19 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time for investors to join the tech bubble, according to Citi. The Wall Street firm said tech stocks officially entered a bubble in May after their extraordinary run-up. "The tech sector has entered a bubble, but we believe there is still time to join the hype, not fade it," strategist Hannah Sheetz wrote to clients Tuesday, following a review of 28 sector bubbles over the last four decades. .IXIC YTD mountain Tech in a bubble, Citi says The analyst said tech bubbles usually return 6.4% in addition to the market for the first six months after the signal flashes. "Historically, a tech bubble will stay inflated for a median of 23 months before hitting our bubble exit condition.

Persons: Hannah Sheetz, Sheetz, — CNBC's Michael Bloom Organizations: Citi, Nvidia, Tech

☆ Stocks making the biggest moves premarket: Carvana, Joby Aviation, Goldman Sachs, Interactive Brokers and more
▼ + stars: | 2023-07-19 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Omnicom posted second-quarter revenue of $3.61 billion, lower than forecasts of $3.67 billion, according to consensus estimates from FactSet. It narrowly beat earnings expectations, posting adjusted earnings of $1.81 per share, higher than the consensus estimates of $1.80 per share. Goldman Sachs — The bank stock declined 0.3% after Goldman Sachs missed expectations in its second-quarter earnings. Goldman also reported revenue of $10.9 billion, which was more than the expected $10.84 billion. J.B. Hunt reported second-quarter earnings of $1.81 per share on revenue of $3.13 billion.

Persons: Carvana, — Omnicom, Omnicom, Goldman Sachs, Goldman, Cinemark, J.B, . Hunt, Refinitiv, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: noteholders, Interactive, Joby Aviation, JPMorgan, Hunt Transport Services, Western, U.S, Bancorp, U.S . Bancorp, Nasdaq Locations: FactSet, Hollywood, U.S

North Korea's state media has made no mention of the incident. North Korea has been testing increasingly powerful missiles capable of carrying nuclear warheads, including a new solid-fuel intercontinental ballistic missile last week. Forces Korea, said the military was "working with our KPA counterparts to resolve this incident," referring to North Korea's People's Army. NORTH KOREA FIRES MISSILESThe soldier was on a tour of the Panmunjom truce village with other visitors when he crossed a Military Demarcation Line, U.S. officials say. The launch came hours after the South Korea and the United States held the first round of talks on Tuesday on upgrading coordination in the event of a nuclear war with North Korea.

Persons: Travis T, King, Lloyd Austin, Austin, Isaac Taylor, Taylor, Kim Hong, Panmunjom, Tae Yong, Josh Smith, Hyonhee Shin, hyang Choi, David Brunnstrom, Phil Stewart, Idrees Ali, Kiyoshi Takenaka, Nobuhiro Kubo, Jack Kim, Lincoln Organizations: U.S, The U.S . Army, Security Area, U.S . Defence, United Nations, U.S . Forces, Korea's People's Army, Command, UNC, North Koreans, KOREA, REUTERS, Ji, U.S ., Korea's Unification Ministry, South, United, Thomson Locations: North North Korea, Pyongyang, U.S, South Korea, WASHINGTON, American, North Korea, Washington, The, New York, U.S . Forces Korea, Paju, Ji U.S, United States, Korean, Korea's, Seoul, Tokyo

[1/3] Foreign tourists participating in DMZ tour walk past a military fence near the demilitarized zone separating the two Koreas, in Paju, South Korea July 19, 2023. REUTERS/Kim Hong-JiPAJU, South Korea, July 19 (Reuters) - Only hours after U.S. Most infamously, axe-wielding North Korean soldiers in the DMZ in 1976 murdered two U.S. soldiers who were cutting down a tree to secure a clear view. In 2017, a North Korean soldier was riddled with bullets by his comrades, but ultimately survived as he made a dash into the South. He must have done it not knowing exactly what North Korea is like," Lee told Reuters at the observation point.

Persons: Kim Hong, Ji PAJU, Travis T, King, Felicia, Lee Sang, Lee, Soo, hyang Choi, Gyun Kim, Hongji Kim, Ed Davies, Sharon Singleton Organizations: REUTERS, Joint Security Area, South Korean, United Nations Command, UNC, ITC, North, American, Reuters, Thomson Locations: Paju, South Korea, North Korea, Korea, U.S, North Korean, Seoul, Minwoo

☆ Chaos as U.S. soldier Travis King bolted into North Korea -witness
▼ + stars: | 2023-07-19 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

SEOUL, July 19 (Reuters) - American and South Korean guards shouted "get him" as they scrambled unsuccessfully to stop U.S. Army soldier Travis King from sprinting into North Korea, a New Zealand woman who was on the same tour to the border area said on Wednesday. "I don't think anyone who was sane would want to go to North Korea, so I assumed it was some kind of stunt." The U.S. military was scrambling on Wednesday to determine King's fate after what officials said was a wilful, unauthorised crossing of the border into North Korea, throwing Washington into a new crisis in its dealings with the state. One American soldier shouted "get him," and other American and South Korean guards ran after King, but he was already on the north side of the border, Leslie said. "It was too late," she said, adding that he disappeared from sight and she didn't see him enter any buildings or be detained by North Korean guards.

Persons: Travis King, Sarah Leslie, King, Leslie, Travis T, Handout, REUTERS King, Hyunsu Yim, Josh Smith, Bernadette Baum Organizations: U.S, Army, Joint Security Area, Reuters, Security Area, REUTERS, North, Thomson Locations: SEOUL, North Korea, New Zealand, Washington, U.S, Panmunjom, South Korea, American

☆ US soldier got in fights, damaged police car before dash to North Korea
▼ + stars: | 2023-07-19 | by ( Ju-Min Park | ) www.reuters.com time to read: +3 min

SEOUL, July 19 (Reuters) - Months before he fled into North Korea, U.S. soldier Travis King faced two assault allegations and was fined by a South Korean court for damaging a police car, according to a court ruling and a lawyer who represented him. The U.S. military was scrambling to establish the fate of King, who made an unauthorised crossing of the inter-Korean border into North Korea on Tuesday, throwing Washington into a new crisis in its dealing with the nuclear-armed state. Two U.S. officials, who spoke on condition of anonymity, said the soldier had been due to face disciplinary action by the U.S. military. Forces Korea (USFK) declined to confirm whether King had been in South Korean or U.S. military detention. King's mother, Claudine Gates, told ABC News she was shocked at the news her son had crossed into North Korea.

Persons: Travis King, King, expletives, Reuters King, King's, Claudine Gates, Travis, 1,266.9100, Josh Smith, Lincoln Organizations: U.S, Court, Reuters, U.S ., Police, Korean, U.S . Forces Korea, ABC News, Thomson Locations: SEOUL, North Korea, U.S, Washington, South Korea, United States, Korean, Seoul, South Korean, Pyeongtaek

☆ Stocks making the biggest moves midday: Carvana, Goldman Sachs, AT&T and more
▼ + stars: | 2023-07-19 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Goldman Sachs — The banking titan advanced 1.6% despite missing expectations of analysts polled by Refinitiv for earnings and revenue. The company beat expectations for earnings expectations by one cent at $1.81 per share. Elevance Health — The stock rose 6% after Elevance Health beat analysts' expectations on the top and bottom lines in its second-quarter results. J.B. Hunt Transport Services — The transportation and logistics stock rose 1.5% despite a disappointing quarterly report. Qualcomm — Shares rose 2.8% after JPMorgan added the stock to its focus list and said it's one of the firm's best growth idea.

Persons: Goldman Sachs, Refinitiv, Goldman, Elevance, J.B, Hunt, Charles Schwab —, ServiceNow, —, Samantha Subin, Hakyung Kim, Sarah Min, Jesse Pound, Michelle Fox, Yun Li Organizations: Joby, JPMorgan, FactSet, Elevance Health, Revenue, Trust, Refintiv, Hunt Transport Services, Refinitiv, Western, Street Journal, U.S . AT, Argus, Qualcomm, Cisco —, Cisco, Bank of America Locations: FactSet, Tahoe

☆ Stocks making the biggest moves midday: Morgan Stanley, Bank of America, Charles Schwab and more
▼ + stars: | 2023-07-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Morgan Stanley — Shares of the James Gorman-led bank jumped more than 6% after the firm posted second-quarter earnings and revenue that topped analysts' expectations. Bank of America – Bank of America shares rose nearly 4% after the company reported second-quarter financial results. Bank of New York Mellon — Shares rose more than 4% after Bank of New York Mellon reported second-quarter revenue and profit that beat Wall Street's expectations. PNC Financial — Shares gained 2.6% after PNC Financial reported second-quarter earnings that topped Wall Street's earnings expectations but came in slightly short on revenue. The Swiss pharmaceutical firm reported second-quarter earnings that topped estimates, according to StreetAccount.

Persons: Charles Schwab, Morgan Stanley —, James Gorman, Morgan Stanley's, Refinitiv, PacWest, Bernstein, UnitedHealth, Pinterest, intraday, Masimo preannounced, Stifel, Lockheed Martin, Macheel, Sarah Min, Yun Li, Alex Harring, Michelle Fox Organizations: Bank of America – Bank of America, Regional Banking, Western Alliance, FB Financial, Verizon, AT, Bank of New York Mellon, PNC, PNC Financial, Novartis — U.S, Novartis, Sandoz, Masimo, Lockheed Locations: San Francisco , California, Swiss, FactSet

[1/2] The South Korean and American flags fly next to each other at Yongin, South Korea, August 23, 2016. Officials from the United States and South Korea are meeting on Tuesday in Seoul for the first Nuclear Consultative Group discussion, aimed at better coordinating allied nuclear response in the event of a war with North Korea. China and North Korea have criticised the group's formation as further raising tensions on the Korean peninsula. When asked whether South Korea will have a role in U.S. nuclear war planning, a senior U.S. administration official told Reuters the group was more about sharing information. "We will discuss information sharing, consultation system, steps for joint planning and implementation to strengthen nuclear deterrence against North Korea," Yoon's spokesperson, Lee Do-woon, told reporters on Monday.

Persons: Ken Scar, Yoon Suk Yeol, Yoon, Kim Tae, Pacific Affairs Kurt Campbell, Lee, woon, General John Weidner, Josh Smith, Steve Holland, David Brunnstrom, hyang Choi, Ed Davies, Stephen Coates Organizations: . Army, REUTERS, Nuclear, Monday, South, Reuters, South Korea's, . National Security, Pacific Affairs, . U.S, U.S . Forces, Thomson Locations: Yongin, South Korea, SEOUL, United States, North Korea, Seoul, Korea, U.S, Washington, China, ., U.S . Forces Korea, Lincoln

☆ Stocks making the biggest moves after hours: Interactive Brokers, Western Alliance, Omnicom and more
▼ + stars: | 2023-07-18 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Interactive Brokers — Interactive Brokers slid 2.6% after the brokerage firm's second-quarter earnings missed estimates. The firm reported adjusted earnings of $1.32 per share, weaker than consensus estimates of $1.40 per share, according to Refinitiv. Carvana said Tuesday it will post second-quarter earnings results on Wednesday, moving the date of its report up from August 3. The global marketing company posted second-quarter revenue of $3.61 billion, lower than forecasts of $3.67 billion, according to consensus estimates from FactSet. Western Alliance Bancorp — The regional bank stock declined about 5% after Western Alliance posted second-quarter results.

Persons: Carvana, Refinitiv Organizations: Omnicom Group, Hunt Transport Services —, Hunt Transport Services, Western Alliance Bancorp, Western Alliance, Revenue Locations: FactSet, Refinitiv

☆ Stock futures are little changed after Dow posts a seventh straight day of gains: Live updates
▼ + stars: | 2023-07-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

U.S. stock futures were little changed Tuesday night after the Dow Jones Industrial Average notched its longest winning streak since 2021. Dow Jones Industrial Average futures wavered near the flat line. The Dow Jones Industrial Average notched a seventh straight positive session on Tuesday for its longest string of gains since March 2021. Housing starts are expected to have dropped by 9.3%, according to economists polled by Dow Jones. Meanwhile, June building permits are anticipated to have declined 0.7%, according to Dow Jones consensus estimates.

Persons: Carvana, Alger's Ankur Crawford, we've troughed, Crawford, Goldman Sachs, Dow Jones, Dow Organizations: Dow Jones, Dow Jones Industrial, Nasdaq, Dow, Netflix, Tesla, IBM, United Airlines, Housing

☆ These stocks win when the U.S. dollar falls, as it's doing in July
▼ + stars: | 2023-07-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A group of stocks including Advanced Micro Devices are set to benefit now that the dollar is weakening, according to a stock screen from CNBC Pro. CNBC Pro reviewed the five biggest monthly declines in the dollar s over the past five years, using the U.S. ICE Dollar Index and FactSet data. On a median basis, the chip stock gained more than 24% during the past five largest monthly declines in the dollar. Over the past five largest monthly dollar declines, First Solar advanced more than 18% on a median basis. Nvidia also stands to gain when the dollar is weaker, having already jumped more than 11% in earlier periods of dollar weakness.

Persons: It's, Wells Fargo, Aaron Rakers, Goldman Sachs, CNBC's Michael Bloom Organizations: CNBC Pro, U.S, ICE, AMD, Nvidia, Deere & Company, General Electric Locations: FactSet

SEOUL, July 17 (Reuters) - A year after South Korea vowed to step up readiness for extreme weather driven by climate change, experts say not enough work has been done even as greater volumes of sudden and torrential rains are expected in coming decades. South Korea is mountainous and urban development has left many regions vulnerable to landslides, while readiness to respond to extreme weather has not been up to speed. [1/3]Rescue workers look for victims during a search and rescue operation near an underpass that has been submerged by a flooded river caused by torrential rain in Cheongju, South Korea, July 16, 2023. REUTERS/Kim Hong-jiA 2020 study by the Korea Meteorological Administration found that property damage costs and casualties from extreme weather have tripled compared to the yearly average of the previous decade. "In advanced countries, they allocate 70% for prevention and 30% for recovery, prioritising recovery over prevention."

Persons: Jeong Chang, Jeong, Yoon Suk, Yoon, Kim Hong, Sejong, Jung, Lee Su, Lee, 1,267.1100, Hyun Young Yi, Hyunsu Yim, Jack Kim, Tom Hogue Organizations: Induk University, REUTERS, Korea Meteorological Administration, Korea Environment Institute, University of Seoul, Thomson Locations: SEOUL, Korea, Cheongju, Seoul, Busan, Gangnam, South Korea, North Gyeongsang, Gyeongsang

☆ China's quarterly report card is in, and it's bad — but Beijing is unlikely to step in and prop up the economy just yet
▼ + stars: | 2023-07-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China posted GDP growth of 6.3% in the second quarter of 2023, badly missing expectations. Even so, China is unlikely to unleash major stimulus measures to boost the economy because it's already in so much debt. And while the GDP did grow year-on-year, it bears noting that the comparison is with a low base from last year when China's economy was battered by on-off COVID-19 restrictions. "There are growing hopes for 'big bang' stimulus to fire up China's growth," Vishnu Varathan, the head of economics and strategy at Mizuho Bank, wrote in a Monday note before China's second-quarter GDP release. The inherent risk with such high debt levels is that a default threatens a domino impact on the Chinese economy — and even the world.

Persons: Vishnu Varathan, China's, Liu Guoqiang, Zhu Min, Robert Carnell, ING's, Carnell, Nomura Organizations: Service, Reuters, Mizuho Bank, Bloomberg, International Monetary Fund, Asia Pacific Locations: China, Wall, Silicon, Beijing, Tianjin

☆ Son says he would rather play for Spurs than move to Saudi club
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +2 min

July 17 (Reuters) - Tottenham Hotspur forward Son Heung-min said he would have moved to Saudi Arabia to continue his career if he wanted to but opted to stay with the Premier League club to redeem himself after a disappointing 2022-23 campaign. "Probably if I wanted to go there (Saudi Arabia) I would be out there, not here," he said with a laugh. Obviously money is also important, but I dream of playing in the Premier League and still a lot of things to do. But the Premier League is still a dream for me to play (in) and I'm looking forward to this season." He's here and while he's here, he's totally committed to what we're doing."

Persons: Son Heung, Son, Sonny, Harry Kane, Ange Postecoglou, Kane, we've, Harry, he's, Stefan Haskins, Rohith Nair, Shri Navaratnam Organizations: Tottenham Hotspur, Premier League, Premier League Golden, South Korea, Spurs, West Ham United, Saudi, Bundesliga, Bayern Munich, Thomson Locations: Saudi Arabia, Perth, London, England, Sydney, Bengaluru

☆ Stocks making the biggest moves premarket: AT&T, Microsoft, JPMorgan, Citi and more
▼ + stars: | 2023-07-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The company reported an adjusted $4.37 per share and $42.4 billion in revenue, while analysts polled by Refinitiv estimated $4 a share and $38.96 billion. Wells reported an adjusted $1.25 per share and $20.53 billion in revenue, while analysts polled by Refinitiv forecasted $1.16 per share and $20.12 billion. Citi -- Citi stock added nearly 2% in premarket trading after beating on earnings. Analysts polled by Refinitiv forecasted $1.30 per share and $19.29 billion. The company reported an adjusted $6.14 per share and $92.9 billion in revenue while analysts polled by Refinitiv forecasted $5.99 and $91 billion.

Persons: JPMorgan Chase, Wells Fargo, Wells, Sarah Min Organizations: JPMorgan, Refinitiv, Citi, BlackRock, Northland Capital Markets, Microsoft, UBS, UnitedHealth, Alcoa Locations: New York, U.S, New York's

☆ Investors count on upward market momentum in the week ahead as earnings rain down
▼ + stars: | 2023-07-14 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Stocks could continue to gain momentum in the week ahead as traders turn their attention to earnings results after the past week's softer inflation news. The major benchmarks are headed for a positive week Friday after encouraging consumer and wholesale inflation in June cemented the likelihood that the Federal Reserve is closer to the end of its rate-hiking campaign. Some market participants expect this period could mark the trough for earnings, and urge traders to pay more attention to forward guidance. "And that's a great sign for the market and market health." ET: NAHB housing market index (July) Earnings: Bank of America , Morgan Stanley , Bank of N.Y. Mellon , Lockheed Martin , PNC Financial , J.B. Hunt Wednesday 8:30 a.m.

Persons: Sage, Rob Williams, Sam Stovall, gee, Stovall, It's, Yung, Yu Ma, MRB, Sage Advisory's Williams, Williams, Morgan Stanley, Wells, Baird's Ross Mayfield, Lockheed Martin, Baker Hughes, Goldman Sachs, Kinder Morgan, Equifax, Johnson Organizations: Federal Reserve, Traders, Reserve, Open, BMO Wealth Management's, MRB Partners, Bank of America, JPMorgan Chase, Investors, Bank, N.Y, Mellon, Lockheed, PNC Financial, J.B, Hunt, Housing, Nasdaq, Citizens Financial, Halliburton, Las Vegas Sands, IBM, Tesla, Netflix, American Airlines, United Airlines, CSX, Comerica, PPG, Roper Technologies, American Locations: Wells Fargo, Silicon Valley, Las Vegas, Horton

☆ Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more
▼ + stars: | 2023-07-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as it benefited from higher interest rates and better-than-expected bond trading. Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The Wall Street firm also said AT&T's exposure to cable may limit the upside for shares. Alcoa — The aluminum stock fell 4.9% following a downgrade to neutral from overweight by JPMorgan. Eli Lilly — The pharmaceutical stock rose 3% in midday trading.

Persons: JPMorgan Chase, Wells, UnitedHealth, Eli Lilly, Yun Li, Alex Harring, Sarah Min, Michelle Fox Organizations: JPMorgan, JPMorgan Chase —, Elevance, Citigroup —, JetBlue Airways, American Airlines — JetBlue Airways, American Airlines, Microsoft, UBS, Blackrock —, Alcoa, Progressive Locations: Wells, York

☆ Stocks making the biggest moves premarket: Delta Air Lines, PepsiCo, MillerKnoll and more
▼ + stars: | 2023-07-13 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Delta posted adjusted earnings per share of $2.68 cents, more than the $2.40 expected by analysts polled by Refinitiv. It gained adjusted revenue of $14.61 billion, greater than the $14.49 billion consensus estimate. MillerKnoll posted adjusted earnings of 41 cents per share on revenues of $957 million. PepsiCo — The beverage stock rose 2% after PepsiCo on Thursday beat earnings and revenue expectation in its recent results, and raised its full-year outlook. The firm reported adjusted earnings of $2.09 per share, more than the $1.96 per share consensus estimate from Refinitiv.

Persons: MillerKnoll, Noguchi, Eames, Refinitiv, Bob Iger's, Iger, Carvana, Bard chatbot, Morgan Stanley, SoFi, — CNBC's Michelle Fox, Jesse Pound Organizations: Delta Airlines, JFK International, Delta Air Lines, Air Lines, Refinitiv, PepsiCo, Walt Disney Company, Disney, CNBC, ViaSat, JPMorgan, European Union, Financial, Microsoft, Cirrus Logic, Barclays Locations: New York City, Americas, Brazil

Search resuls for: "Min"

25 mentions found