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☆ Americans' cost-of-living anxiety is creating a population of oversavers
▼ + stars: | 2024-11-10 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

That's largely due to anxiety about higher costs of living, especially in retirement, experts told BI. Many high-income Americans are hoarding cash and trying to cut costs anywhere they can. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Cost-of-living stressThe pace of inflation has cooled significantly, but many Americans—even wealthy ones—are still dismayed that many costs are still higher overall. AdvertisementExperts, though, say oversaving could hurt Americans trying to build wealth in the long run.

Persons: That's, —, spender, she's, I've, oversavers, Kitty Ritchie, Ted Rossman, Ritchie, he's Organizations: Service, of America, Drucker Wealth Management, Companies, Challenger, Michigan Locations: Michigan, America

☆ I'm 49 and don't want kids. I mostly date older women because of my choice.
▼ + stars: | 2024-11-08 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +4 min

He finds it easier to date older women now but is also content to be alone. He says dating older women means there's no pressure to talk about having children. It wasn't necessarily a conscious decision, but several influences probably contributed to my never having children with the women I dated. It's not just the idea of having kids I've let go as I have gotten older — I also no longer feel forced to have a serious relationship. But now that I'm decidedly not having children and my age has eased, the pressure to be in a relationship has eased.

Persons: Brian Gross, —, I've, I'm, didn't, It's, it's Organizations: Service Locations: Angeles

☆ China economy: Beijing approves $1.4 trillion debt package in latest measure to boost flagging growth
▼ + stars: | 2024-11-08 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Lan revealed that, as of the end of 2023, China had an enormous hidden debt balance of 14.3 trillion yuan ($1.99 trillion). Officials aim to trim that amount to 2.3 trillion yuan ($320 billion) by 2028. Hitting a growth targetThe scale of the debt swap, seen as underwhelming by some investors, was largely in line with the expectations of economists. Still, at this pace of growth, there’s a risk Beijing may miss its growth target rate of around 5%. Since then, economists have been expecting additional stimulus measures worth up to 10 trillion yuan ($1.4 trillion) to restore bullishness in the world’s second-largest economy.

Persons: Donald Trump, Lan Fo’an, ” Lan, Lan, Larry Hu, Xi Jinping Organizations: Hong Kong CNN, House, Finance, National People’s Congress, “, Macquarie Bank, Reuters Locations: China, Hong Kong, Lan, Beijing

☆ 'It's gross, it's unprofessional': Some LinkedIn users are being put off the platform by unsolicited flirtatious DMs
▼ + stars: | 2024-11-08 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +8 min

studioEAST | Getty ImagesSome LinkedIn users have reported receiving unsolicited flirtatious messages via the platform, with expert Bernie Hogan at the Oxford Internet Institute saying the employment-focused social website is increasingly being used for dating purposes. "It's just a gross feeling ... it's gross, it's unprofessional," Huddy told CNBC. "LinkedIn is not a workplace, it merely frames itself as a workplace," he told CNBC Make It. A recent Forbes Health Survey of 1,000 Americans who have used dating apps in the past year found that 78% felt fatigued emotionally, mentally, or physically by dating apps sometimes, often, or always. "So LinkedIn has effectively created a dating site without dating," Hogan added.

Persons: Bernie Hogan, Blair Huddy, Huddy, She's, Shriya, DatingNews.com, Hogan, Courtney Boyer, Boyer, Sasha Dutta, Dutta, Oscar Wong Organizations: Getty, Oxford Internet Institute, Hudson Davis Communications, CNBC, LinkedIn, Microsoft, Facebook, Forbes Health Survey Locations: studioEAST, Los Angeles, U.S, Central Florida, Asian

☆ Rivian is shoring up sourcing for its R2 affordable SUV with Trump's proposed tariffs in mind, CEO says
▼ + stars: | 2024-11-08 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Rivian CEO RJ Scaringe said during an earnings call the company has been bracing for tariffs. The fate of the $7,500 EV tax credit issued under the Biden Administration remains unclear. AdvertisementEV company Rivian says it's already bracing for the impact that the increased tariffs proposed by President-elect Donald Trump would have on its supply chain. Rivian CEO RJ Scaringe said that to prepare for potential tariffs Trump has proposed on foreign goods, the company has been deliberate about materials sourcing for its upcoming lower-cost SUV, the R2. On top of the uncertainty that comes with the second Trump administration, Rivian continues to face hurdles toward profitability — a challenge many new automakers face, with the exception of Tesla.

Persons: Donald Trump's, RJ Scaringe, Biden, —, Rivian, Donald Trump, we've, EVs —, Claire McDonough, Rivian's, Tom Narayan, Scaringe, Trump, Tesla Organizations: Service, President, Trump, Biden, RBC Capital Markets, CNBC

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Home Depot, Domino's, Wingstop, Warby Parker, Rivian, Bank of America & more
▼ + stars: | 2024-11-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Jefferies reiterates Nvidia and Marvell as buy The firm says the two chipmakers still have the most upside. Citi upgrades Bank of America to buy from neutral Citi says the bank could be a beneficiary of lighter regulation. Bank of America downgrades Rivian to neutral from buy Bank of America said it sees regulatory risk under a Trump administration. Bank of America upgrades Teledyne Technologies to buy from neutral The firm says it sees upside ahead for the industrial conglomerate. Goldman Sachs upgrades Wingstop to buy from neutral The firm says the wings restaurant has "best-in-class" growth.

Persons: William Blair, Warby Parker, Bernstein, Apple, Lowe's, Jefferies, Goldman Sachs, Sweetgreen, Goldman, outperformance, it's bullish, BNTX, Oppenheimer, Piper Sandler, Wells, Airbnb, Gross, Trump, TDY Organizations: Apple, Apple Intelligence, Nvidia, Marvell, Enterprise, JPMorgan, China EV, Catalyst, Holdings, Barclays downgrades, Body, Citi, U.S, Deutsche Bank, UBS, Molson Coors, OW, Bank of America, Trump Administration, " Bank of America, Teledyne Technologies Locations: AVGO, 4Q24, DPZ, UW

☆ Affirm beats on top and bottom lines
▼ + stars: | 2024-11-07 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Affirm , the provider of buy now, pay later loans reported better-than-expected fiscal first-quarter results. Revenue less transaction costs (RLTC) came in at $285 million, ahead of earlier guidance of $265 million to $280 million. Affirm said it expects to achieve profitability on a GAAP basis in its fiscal fourth quarter of 2025. Affirm is guiding to GMV in the range of $9.35 billion to $9.75 billion. In June, Affirm and Apple announced plans for U.S. Apple Pay users on iPhones and iPads to be able to apply for loans directly through Affirm.

Persons: Max Levchin, StreetAccount, Kevin Kennedy, Kennedy, —, Robert Hum Organizations: Revenue, Apple, U.S Locations: LSEG

☆ Goldman Sachs slashes European growth forecasts on Trump win
▼ + stars: | 2024-11-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —President-elect Donald Trump’s proposed protectionist policies, including hefty tariffs, will hurt Europe’s economic standing — leaving crisis-hit Germany particularly vulnerable, Goldman Sachs predicts. Goldman Sachs expects gross domestic product across the 20 countries that use the euro to expand 0.8% next year, down from the 1.1% it forecast previously. Goldman Sachs’ central expectation is for “a more limited set of tariffs on European economies,” targeting primarily their auto exports. Goldman Sachs now expects the German economy to grow only 0.5% next year because of trade tensions, just over half the 0.9% growth it forecast previously. “For European businesses, Trump’s return to the White House implies considerable trade policy risks and geopolitical uncertainty,” Berenberg chief economist Holger Schmieding wrote in a note Thursday.

Persons: Donald Trump’s, Goldman Sachs, Trump’s, Trump, ”, Holger Schmieding, “ Organizations: London CNN —, NATO, Republican, European Union, Volkswagen, VW Locations: Germany, United States, Europe, Ukraine, China

☆ Federal Reserve cuts interest rates by a quarter point
▼ + stars: | 2024-11-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowThe Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to rightsize monetary policy. Among them was an altered view in how it assesses the effort to bring down inflation while supporting the labor market. The statement slightly downgraded the labor market, saying "conditions have generally eased, and the unemployment rate has moved up but remains low." Generally, the labor market has held up well. An acceleration in economic activity under Trump could persuade the Fed to cut rates less, depending on how inflation reacts.

Persons: Michelle Bowman, Jerome Powell, nonfarm, Donald Trump, Trump, Powell, Pace Organizations: Federal Reserve, Federal, Committee, Gross, Atlanta Fed, Trump Locations: Tuesday's

☆ Rivian lowers earnings guidance after missing Wall Street's third-quarter expectations
▼ + stars: | 2024-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Rivian Automotive lowered its earnings forecast for the year after missing Wall Street's third-quarter expectations, including a significant miss in revenue. That compares to a previous guidance of roughly $2.7 billion loss. The company reported a negative gross profit of $392 million for the third quarter compared with a loss of $477 million a year earlier. The automaker's net loss narrowed year-over-year to $1.1 billion compared to $1.37 billion during the third quarter of 2023. Its revenue compared to a year ago dropped by 34.6% amid supplier disruptions that impacted the company's production.

Persons: Wall, Rivian Organizations: Workers, Rivian Automotive Locations: Normal , Illinois, U.S

☆ I've been on every Norwegian cruise line — here's how the 3 brands with very different prices compare
▼ + stars: | 2024-11-07 | by ( Brittany Chang | ) www.businessinsider.com time to read: +9 min

Norwegian Cruise Line Holdings operates three brands: Norwegian, Regent Seven Seas, and Oceania. Norwegian Cruise Line: Family-friendly affordabilityNorwegian Cruise Line invited me on a complimentary four-night Norwegian Prima voyage in 2022. AdvertisementRegent Seven Seas Cruises: The priciest ultra-luxury optionRegent Seven Seas invited me on a three-night "christening sailing" for its one-year-old Seven Seas Grandeur. Regent Seven Seas invited me on a complimentary three-night Seven Seas Grandeur sailing in 2023. Norwegian Cruise Line Holdings' most luxurious cruise line, Regent Seven Seas, serves dishes like beef tenderloin topped with seared foie gras.

Persons: —, Brittany Chang, Prima —, mary, Bulgari, Pablo Picasso, bocce, toiletries Organizations: Cruise Line Holdings, Regent Seven, Service, Norwegian, Cruise, Cruise Line, Prima, Oceania, Oceania Vista, Beverage, Seven Seas, Business, Regent Seven Seas Locations: Oceania, Norwegian, Whittier , Alaska, Vancouver, British Columbia, Oceania Vista, Italian, New York, Rhode Island, Bermuda, Caribbean, San Juan , Puerto Rico

☆ Trump victory deals latest severe blow to a struggling Germany
▼ + stars: | 2024-11-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Krisztian Bocsi | Bloomberg | Getty ImagesDonald Trump's election as U.S. President could mark yet another major blow for the struggling German economy. The print came after the German economy ministry in October said it was now expecting the country's economy will contract, rather than grow this year. Trump's victory could make matters worse. Reliance on exportsThe German economy is heavily reliant on exports — and Trump is set to slap tariffs and other restrictions on imports. The German statistics office Destatis last month said that the U.S.' importance as a trading partner for Germany has been growing.

Persons: Olaf Scholz, Germany's, Krisztian Bocsi, Donald Trump's, Moritz Schularick, Trump, Schularick, ifo, Morningstar DBRS, Lisandra Flach Organizations: Bloomberg, Getty, PMI, P Global, Hamburg Commercial Bank, Kiel Institute, Trump, Reliance, China, Beijing, Destatis, ifo Center, International Economics, European Union, EU Locations: Berlin, Germany, Federal Republic of Germany, Europe, U.S

☆ Airbnb misses on earnings but squeaks in a revenue beat
▼ + stars: | 2024-11-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. Here's how the company did:Earnings per share: $2.13 vs. $2.14 expected by LSEG$2.13 vs. $2.14 expected by LSEG Revenue: $3.73 billion vs. $3.72 billion expected by LSEGRevenue increased 10% from $3.4 billion a year earlier. Airbnb reported net income of $1.37 billion, or $2.13 per share, compared with $4.37 billion, or $6.63 per share, in the same period last year. Gross booking value, used by Airbnb to track host earnings, service fees, cleaning fees and taxes, totaled $20.1 billion in the third quarter. That's above the $19.9 billion expected by analysts, according to StreetAccount.

Persons: Brian Chesky, Airbnb, Airbnb's, StreetAccount Organizations: Airbnb Inc, LSEG, LSEG Revenue, StreetAccount Locations: Los Angeles , California

☆ Capital gains tax hikes 'entirely off the table' under President-elect Trump, Republican Congress, economist says
▼ + stars: | 2024-11-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Long-term capital gains rates apply to assets owned for more than one year. Higher capital gains tax rates, however, are "entirely off the table," under a Trump presidency and Republican-controlled Congress, said Erica York, senior economist and research manager with the Tax Foundation's Center for Federal Tax Policy. Even with partial Republican control, "it's most likely that capital gains tax policy just stays put where it is," York explained. For 2024, investors pay long-term capital gains rates of 0%, 15% or 20%, depending on taxable income. Combined with long-term capital gains taxes, higher earners currently pay up to 23.8% on investments.

Persons: Donald Trump, Jim Watson, Donald Trump's, Kamala Harris, Harris, Joe Biden's, Erica York, York, Howard Gleckman Organizations: U.S, Republican, Afp, Getty, Trump, Tax, Center, Federal Tax Policy, Republicans, Representatives, White, Urban, Brookings Tax Locations: Palm Beach

☆ Block shares plunge 11% on revenue miss
▼ + stars: | 2024-11-07 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

Block shares tumbled 11% in extended trading on Thursday after the company reported third-quarter revenue that trailed Wall Street expectations. Earnings per share: 88 cents adjusted vs. 87 cents expected88 cents adjusted vs. 87 cents expected Revenue: $5.98 billion vs. $6.24 billion expectedBlock, formerly known as Square, posted $2.25 billion in gross profit, up 19% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. The company reported net income of $283.7 million, or 45 cents per share, after losing $88.7 million, or 15 cents a share, a year earlier. The company said gross profit for the fourth quarter will increase 14% to $2.31 billion.

Persons: Jack Dorsey Organizations: LSEG, Twitter

☆ Mysterious black balls that washed up on Sydney beach were foul-smelling mini ‘fatbergs’
▼ + stars: | 2024-11-07 | by ( Lex Harvey | ) edition.cnn.com time to read: +3 min

CNN —The mystery of the black balls that washed up on some of Sydney’s most iconic beaches last month has now been solved – and it’s more disgusting than you could ever imagine. Australian beachgoers were turned away from seven beaches last month after lifeguards spotted thousands of black spheres, prompting closures and clean-up efforts. People visit Coogee Beach in Sydney, Australia after authorities closed it to the public on October 16, 2024, following the sighting of mysterious black balls on its shores. These Sydney fatbergs were no ordinary fatbergs, however. The blobs contained everything from fecal matter to medication and recreational drugs, the scientists wrote.

Persons: ”, Jon Beves, Saeed Khan, William Alexander Donald, ” Donald, 9news, Fatbergs, Sydney fatbergs Organizations: CNN, University of New, UNSW, New South, New South Wales Environment, Protection Authority, Sydney, Getty, EPA, “ Authorities Locations: University of New South Wales, New, New South Wales, Bondi, Coogee Beach, Sydney, Australia, AFP, Birmingham, “

☆ Here are Thursday's biggest analyst calls of the day: Nvidia, Tesla, Duolingo, Disney, Allstate, & more
▼ + stars: | 2024-11-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Bank of America downgrades Solaredge to underperform from neutral Bank of America says Solaredge is at risk of tariffs in a Trump administration. Barclays downgrades Coty to underweight from equal weight Barclays downgraded the beauty stock following earnings and says it sees "strategy creep." Baird upgrades McKesson to outperform from neutral Baird upgraded the healthcare and medical supply company following earnings. JPMorgan upgrades Clearwater to overweight from neutral JPMorgan upgraded the software company following earnings. " Seaport downgrades Duolingo to neutral from buy The firm downgraded the language App company mainly on valuation following earnings.

Persons: Solaredge, Jefferies downgrades Palantir, Jefferies, PLTR, Bernstein, Ford, Morgan Stanley, Wolfe, it's, Trump, Coty, Schneider, Schneider National's, Apple, it's bullish, Max, Baird, MCK, JPM, CWAN, Guggenheim, Sunrun, Raymond James, Tesla Organizations: Barclays, Qualcomm, Bank of America, of America, Intelligence, Allstate, Nvidia, AMD, Coty, underperform Bank of America, Citi, Apple, Deutsche Bank, Disney, HC, JPMorgan, UBS, Vulcan, Guggenheim, Technologies, USM Locations: Trump, 1Q23, China, F4Q

To lower housing costs, Trump has said he would allow homes to be built on federally protected land, something that could help increase the supply of homes in places like Nevada and Arizona. TaxesTrump has proposed a number of tax cuts, including a complete elimination of the federal income tax. Those cuts lowered the corporate tax rate to 21% from 35%, reduced individual income tax rates, and increased the standard deduction. That could create havoc for workers and consumers and reduce the amount of income taxes the federal government brings in. About 40% of Social Security recipients pay federal income taxes, typically because they have other sources of income that raise them above a certain threshold where they are required to pay income tax, according to the Social Security Administration.

Persons: Donald Trump, Trump, —, ” Trump, “, Decker, Matt Priest, ”, Priest, It’s, He’s, hasn’t, Immigration Trump, Jim Tobin, Trump’s Organizations: Trump, Chicago Economic, Companies, National Bureau of Economic Research, Footwear Distributors, Retailers, U.S, Federal Reserve, Immigration, Business, Pew Research Center, NBC News, National Association of Home Builders, NBC, University of New, University of Pennsylvania, Social Security, Social, Social Security Administration Locations: U.S, China, Nevada, Arizona, Alaska, Saudi Arabia, Russia, University of New Hampshire

☆ Dow set to surge more than 1,200 points as Trump is reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +5 min

Markets, in particular, crave certainty, and the clear path forward will allow companies to adjust their business and hiring plans. But stocks may also be reacting to Trump’s victory, in particular. Trump flipped several swing states from President Joe Biden’s 2020 victory, and Republicans also took control of the Senate. So Trump’s victory, at least for now, appears to be keeping those rates somewhat higher. Other so-called Trump trades, including shares of his social media stock, Trump Media & Technology Group, surged Wednesday morning.

Persons: Donald Trump, Trump, Joe Biden’s, refocusing, Sam Stovall, Bitcoin, Crypto, Trump’s, Germany’s DAX, Australia’s, ”, Neil Newman, Hong, ” Daniel Murray Organizations: New, New York CNN —, Dow, Nasdaq, Republicans, Fed, JPMorgan, Democratic, CFRA Research, Gross, Treasury, Trump, Trump Media & Technology Group, CAC, Nikkei, Advisory, EFG Asset Management Locations: New York, Europe, Asia, China, Tokyo, Shanghai

☆ Capitol riot defendants are asking judges to halt their cases, saying Trump promised them pardons
▼ + stars: | 2024-11-06 | by ( Katie Balevic | Kenneth Niemeyer | ) www.businessinsider.com time to read: +5 min

Donald Trump said he'd pardon January 6 rioters if he won the presidential election. Carnell is one of those arrested in the aftermath of the Capitol riot who is now hoping Trump will follow through on a promise of a pardon. Advertisement"President-elect Trump made multiple clemency promises to the January 6 defendants, particularly to those who were nonviolent participants," the filing said. Related storiesThroughout his campaign, Trump described imprisoned January 6 defendants as "political prisoners" who were "ushered in" to the federal building by Capitol Police. "In the beginning, if he does something like that to a couple of defendants, yeah, you'll see a trend," Shapiro said.

Persons: Donald Trump, he's, —, Christopher Carnell, Carnell, Trump, Jaimee Avery, Avery, Mike Pence, Nadia Shihata, Kelly, Shihata, David Shapiro, John Jay, Shapiro Organizations: Service, Capitol, Justice Department, Capitol Police, National Association of Black Journalists, John, John Jay College of Criminal Locations: New York

☆ Trump claims presidential win. Here is what he promised the crypto industry ahead of the election
▼ + stars: | 2024-11-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

Former President Donald Trump arrives for his campaign rally at the Trump National Doral Golf Club in Doral, Florida, on July 9, 2024. Getting that money required him to make big promises pertaining to the crypto industry. "For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said during his keynote speech. Trump pledged to maintain the current level of bitcoin holdings that the U.S. has amassed from seizing assets from financial criminals. "On day one, I will fire Gary Gensler," Trump said, referencing the Joe Biden-appointed SEC chairman who has taken an aggressive approach to crypto regulation.

Persons: Donald Trump, Joe Raedle, Elon Musk, Robert F, Kennedy, Jr, Cantor Fitzgerald, Howard Lutnick, Trump, MicroStrategy, Gary Gensler, Joe Biden, Gensler, Crypto, haven't, Sen, Elizabeth Warren, Bitcoin, Jerome Powell Organizations: Trump National Doral Golf Club, Getty, Republican, Strategic, White, U.S . Marshals Service, U.S . Securities, Exchange, SEC, Trump, Lago Club, Riot, Marathon Digital Holdings, Radical Communist, Federal Reserve Locations: Doral , Florida, Nashville, United States of America, Germany, America, Palm Beach , Florida, China, Russia, USA

☆ You could face the 'survivor's penalty' after a spouse dies — here's how to avoid it
▼ + stars: | 2024-11-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Andrew Bret Wallis | The Image Bank | Getty ImagesAfter a spouse dies, some retirees face a costly surprise — higher taxes. The shift from married filing jointly to single on future tax returns can trigger a "survivor's penalty," depending on whether your income changes. After that, older survivors typically use the "single" filing status, which may have higher tax rates, with narrower tax brackets and a smaller standard deduction. The IRS recently unveiled higher tax brackets and standard deductions for 2025. The survivor's penalty affects American women more often than men, because women are more likely to outlive male spouses.

Persons: Andrew Bret Wallis, Judy Brown, Brown Organizations: Bank, Getty, SC, H Wealth Advisors, D.C, IRS, Centers for Disease Control Locations: Washington, Baltimore

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Tesla, Nike, Ferrari, Amazon, Instacart, Spotify & more
▼ + stars: | 2024-11-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Goldman Sachs reiterates Nvidia as buy Goldman said the stock is best positioned ahead of earnings later this month. JPMorgan upgrades Yum China to overweight from neutral JPMorgan upgraded the China operator of brands like KFC following earnings. Wedbush reiterates Tesla as outperform The firm said the EV maker is a big winner of a Trump presidency. Deutsche Bank reiterates Spotify as buy Deutsche said it's bullish heading into the streaming company's earnings report on November 12. JPMorgan downgrades Super Micro to underweight from neutral JPMorgan downgraded the stock following earnings citing too much regulatory uncertainty.

Persons: Bernstein, Apple, Goldman Sachs, Goldman, YUMC, Wedbush, Tesla, Trump, Jefferies, Raymond James, it's, Wells, BURL, Oppenheimer, TD Cowen downgrades Brown, Forman, Cowen, Needham, revs, Ferrari, it's bullish, Mizuho, Monness Crespi Hardt, Snowflake Organizations: Nvidia, JPMorgan, KFC, Trump, Ryman Hospitality, Citi, GE Healthcare, General Electric, Barclays, Tencent, Entertainment, Deutsche Bank, Spotify, Deutsche, Nike, Burlington, GAP, Super Micro, Services, UBS, Ferrari, Data Center, 2027E, Bank of America, of America Locations: China, 2Q24, Snowflake

☆ E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain
▼ + stars: | 2024-11-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales. Sales rose to $301 million, up about 40% from $216 million a year earlier. raised its full-year revenue guidance from a previous range of $1.28 billion to $1.3 billion and also raised its adjusted earnings guidance. The retailer is expecting adjusted earnings to be between $3.47 to $3.53 per share, up from a prior outlook of between $3.36 and $3.41 per share. Analysts had been looking for earnings guidance of $3.51, according to LSEG.

Persons: we're, Tarang Amin, Amin, Donald Trump Organizations: LSEG, Gen Alpha, CNBC, Target, Walgreens Locations: U.S

☆ America’s economy explains a lot about why Trump got reelected
▼ + stars: | 2024-11-06 | by ( David Goldman | ) edition.cnn.com time to read: +6 min

That explains a lot about why Trump was reelected. Why the US economy stings so muchHousing: America’s home prices have reached new record highs for 15 straight months. No, really, the US economy is greatStill, Trump will be inheriting a strong economy — on paper, anyway. But they’re still growing at a 3.9% adjusted rate, according to the Department of Labor. Consumer spending, which accounts for more than two-thirds of America’s economy, is surging, rising 3.7% last quarter, the highest rate of growth since the first quarter of 2023, according to the BEA.

Persons: Donald Trump’s, Trump, Joe Biden, Kamala Harris, they’re, Biden, Covid, That’s, Trump’s Organizations: CNN, Republican, US Department of Housing, Urban Development, Bank of America, Brookings Institution, White, Democratic, Democrat, Companies, Bureau of Labor Statistics, Gross, Economic, International Monetary Fund, Labor, BEA Locations: America

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