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☆ UK’s improving finances will bear no fiscal gifts
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Yves Herman/File Photo Acquire Licensing RightsLONDON, Aug 22 (Reuters Breakingviews) - Higher tax receipts helped Britain to borrow less than expected in July. The UK’s poor economic health leaves him with little room for fiscal giveaways ahead of a prospective 2024 election. Public sector net borrowing stood at 4.3 billion pounds in July, less than the 5 billion pounds expected by economists polled by Reuters. In the first four months of the fiscal year, borrowing was 11.3 billion pounds below the Office for Budget Responsibility’s forecast. The recent rise in bond yields will add around 18 billion pounds to debt interest spending by 2027/28, says Capital Economics.

Persons: Jeremy Hunt, Mairead McGuinness, Yves Herman, Hunt, Francesco Guerrera, EY’s loveless, Lisa Jucca, Katrina Hamlin Organizations: Financial Stability, Financial Services, Capital Markets, REUTERS, Reuters, Budget, Economics, Twitter, TPG, Thomson Locations: Brussels, Belgium

☆ CNN Overhauls Programming Lineup, Aiming to Lift Ratings
▼ + stars: | 2023-08-14 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

CNN, which has battled sagging ratings this year, on Monday unveiled a dramatic remaking of its morning and evening programming. Laura Coates, an anchor and chief legal analyst at CNN, will anchor the network’s 11 p.m. hour. Earlier this year, CNN named Kaitlan Collins, its former White House correspondent, as anchor of its 9 p.m. hour, replacing Mr. Cuomo. The show will be co-hosted by Ms. Harlow and Phil Mattingly, CNN’s chief White House correspondent. Ms. Hunt was previously anchor of “Way Too Early,” a morning show on MSNBC.

Persons: Abby Phillip, ”, Laura Coates, Chris Cuomo, Andrew Cuomo, Kaitlan Collins, Cuomo, Don Lemon, Collins, Lemon, Poppy Harlow, Harlow, Phil Mattingly, CNN’s, Kasie Hunt, Hunt Organizations: CNN, New York Gov, White House, White, MSNBC

☆ 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

☆ 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 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

☆ European stocks open mixed with slew of earnings ahead; Ocado up 7.5%
▼ + stars: | 2023-07-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Telecom stocks fell 0.95%, while health-care and financial services both nudged around 0.2% higher. British grocery delivery firm Ocado was among the top gainers, up 7.5% as it reported a swing to underlying profit in first-half results, though a wider group loss before tax. Regarding recent speculation of takeover interest from Amazon, Reuters quoted CEO Tim Steiner as saying: "Speculation is speculation, I have nothing to say." Swiss health-care firm Novartis raised its full-year earnings guidance as it reported sharply higher operating income. China missed gross domestic product estimates Monday, weighing on global stocks, while European luxury declined after Richemont reported a slowdown in U.S. demand.

Persons: Ocado, Tim Steiner, Morgan Stanley, Lockheed Martin, J.B, Richemont Organizations: Telecom, Reuters, Novartis, Sandoz, Bank of America, Bank of New York Mellon, PNC Financial, Lockheed, Federal Reserve, Bank of England Locations: Amazon, Swiss, Bank, Hunt ., China, Asia, Pacific

☆ Stock futures inch lower ahead of busy earnings day: Live updates
▼ + stars: | 2023-07-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Stock futures were little changed in overnight trading as Wall Street looked ahead to a busy earnings day. Futures tied to the Dow Jones Industrial Average dipped 21 points, or 0.06%, while S&P 500 futures and Nasdaq-100 futures slipped 0.1% and 0.13%, respectively. The action followed a downgrade from Citi on the heels of an investigation by The Wall Street Journal that linked the telecom company to toxic lead cable use. Wall Street awaits a packed earnings day Tuesday, with results on deck from Bank of America , Morgan Stanley , Bank of New York Mellon and PNC Financial . "You wouldn't have those negative leading indicators, and even some of the concurrent indicators, if we were in a sweet spot."

Persons: Stocks, Morgan Stanley, Lockheed Martin, J.B, Hunt, SoFi's Liz Young Organizations: Dow Jones, Nasdaq, Citi, Wall Street, Bank of America, Bank of New York Mellon, PNC Financial, Lockheed Locations: Bank

☆ 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

☆ ‘Mission: Impossible — Dead Reckoning Part One’ Review: Still Running
▼ + stars: | 2023-07-11 | by ( Manohla Dargis | More About Manohla Dargis | ) www.nytimes.com time to read: +2 min

I don’t know if anyone has ever clocked whether Tom Cruise is faster than a speeding bullet. He racks up more miles in “Mission: Impossible — Dead Reckoning Part One,” the seventh entry in a 27-year-old franchise that repeatedly affirms a movie truism. That is, there are few sights more cinematic than a human being outracing danger and even death onscreen — it’s the ultimate wish fulfillment! Once again, he plays Ethan Hunt, the leader of a hush-hush American spy agency, the Impossible Mission Force. The whole thing is complicated, as these stories tend to be, with stakes as catastrophic as recent news headlines have trumpeted.

Persons: Tom Cruise, —, Ethan Hunt, Rebecca Ferguson, Vanessa Kirby, handymen, Simon Pegg, Ving, Ethan, ”, that’s, Hunt, Harley Quinn, Rome —, Wade Eastwood, Grace, Hayley Atwell Organizations: Mission Force Locations: “, Paris, Rome

☆ Wells Fargo's top ideas for the third quarter including a possible stock double
▼ + stars: | 2023-07-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

As the third quarter kicks into high gear, Wells Fargo is offering up its top short picks for the months ahead. Here are some of the names that made the cut: Wells Fargo highlighted consumer electronics stock Vizio as one of its top picks with about 126% upside potential with strong top-and-bottom line growth potential. VZIO YTD mountain Vizio shares in 2023 Within the technology sector, Wells Fargo also highlighted Pinterest as a third-quarter pick. Wells Fargo views the latest technological whirlwind as a "once-in-a generation product cycle" for the company that could contribute to about 17% upside potential in shares. Wells Fargo also included lithium producer Albemarle and J.B. Hunt Transport Services among its top third-quarter ideas.

Persons: Wells, Steven Cahall, Wells Fargo, Ken, Wednesday's, Gary Mobley, Albemarle, — CNBC's Michael Bloom Organizations: Technology, Nasdaq, Wall, CTV, Amazon, Hunt Transport Services Locations: Wells Fargo, Wells, J.B

☆ UK has little wiggle room on mortgage aid
▼ + stars: | 2023-06-21 | by ( Francesco Guerrera | ) www.reuters.com time to read: +4 min

LONDON, June 21 (Reuters Breakingviews) - UK Prime Minister Rishi Sunak is under pressure to provide relief for mortgage borrowers buckling under soaring interest rates. The problem is that mortgage relief dilutes the Bank of England’s fight against inflation, which remained stubbornly high at 8.7% in May. The UK government is to meet mortgage lenders to discuss helping households struggling with their home loans, finance minister Jeremy Hunt told parliament on June 20. However, Hunt ruled out introducing state-backed support to help mortgage borrowers facing higher costs due to soaring interest rates. Hunt said that offering government mortgage relief would be inflationary.

Persons: Rishi Sunak, Liz Truss, –, Jeremy Hunt, BoE, Hunt, George Hay, Oliver Taslic Organizations: Reuters, UK Finance, Conservatives, Labour Party, Bank of England’s, Conservative Party, Bank of England, Thomson Locations: Spain, Poland

☆ Why finding a camp for your kid is this summer's madness
▼ + stars: | 2023-06-13 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

NEW YORK, June 13 (Reuters) - For American kids, summer camps can conjure up some idyllic experiences: Canoeing on lakes, munching on s’mores by campfires. THE EARLY BIRD GETS THE WORMMany day camps open registration in January, February and March, and overnight camps often start the previous fall. Indeed, in 2022 the average day camp cost rose to $87 per day, and the average overnight camp to $172 a day, according to an ACA survey of participating camps. “Investigate if your employer provides any summer camp assistance as part of their benefits package. Says Rosenberg: “Summer camp is hot again.”Editing by Lauren Young Follow us @ReutersMoneyOur Standards: The Thomson Reuters Trust Principles.

Persons: ”, Ellen Sheng, it’s, ” Sheng, “, Tom Rosenberg, Rosenberg, ” Rosenberg, Anna Sergunina, ” Sergunina, Hunt, Says Rosenberg, Lauren Young Organizations: YORK, campfires, American Camp Association, YMCA, “, Thomson, Reuters Locations: Summit , New Jersey, Greater New York, Los Gatos , California

☆ I'm a bear when it's called for, like in 2007. But this stock market belongs to the bulls
▼ + stars: | 2023-04-30 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I have not been bombarded with as many warnings about how we are about to embark upon a wave of failures of all sorts — shadow banks, regional banks, commercial real estate lenders, real estate investment trusts — at any time since 2007. Let's take commercial real estate. I mention SL Green because it may be the most challenged of the REITs, real estate investment trusts, other than Vornado Realty Trust (VNO), a historically fine New York real estate concern, which just delayed its dividend. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Where the trucking and rail recession is showing up in the economic data
▼ + stars: | 2023-04-28 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +6 min

The decrease negatively impacts earnings for both trucking and rail where revenue is generated by moving freight. Ocean freight orders are a leading indicator of train and trucking earnings since 90% of the world's trade moves by water. This is one of three key supply chain charts that are signaling more financial potholes for trucking and rail companies. West Coast ports have been losing trade to both the East Coast ports and Gulf ports as a result of prolonged labor negotiations, though union representatives indicated last week a "tentative agreement" had been reached, but no details were provided. Trucking is needed for both container pick up at the ocean terminals and rail ramps.

☆ Jim Cramer: This is what I learned from the real first week of earnings season
▼ + stars: | 2023-04-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

"Simply stated we're in a freight recession." That line, uttered last Monday by Shelley Simpson, president of J.B. Hunt (JBHT), the fourth-largest trucking company in the United States, was the most memorable of the real first week of earnings season. If so, it would know that we're dealing with much more than a freight recession. It's not enough to offset the immense deflationary pressure emanating from the regional banks and the freight recession described by J.B. Hunt. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Organizations: & $

☆ Drop in Transportation Stocks Foreshadows Weakening Economy
▼ + stars: | 2023-04-20 | by ( Vicky Ge Huang | ) www.wsj.com time to read: 1 min

Delta posted a quarterly loss and said consumers’ behavior is shifting in ways that can be hard to predict. Photo: ed jones/Agence France-Presse/Getty ImagesEconomically sensitive stocks, like those of transportation and small-cap companies, are trailing the broader market, reflecting growing investor concern about a potential recession. The Dow Jones Transportation Average, which tracks 20 large U.S. companies ranging from airlines to railroads to truckers, has underperformed the Dow Jones Industrial Average by about 8.3 percentage points since early February. Shares of Norfolk Southern Corp., American Airlines Group Inc. and J.B. Hunt Transport Services Inc. have dropped at least 10% over the same period.

☆ Next week's stock market moves hinge on the longer-term outlook for earnings
▼ + stars: | 2023-04-14 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

Next week's market action could be dictated by how well the latest quarterly reports from corporate America are received. Expectations about the immediate earnings outlook have been down for so long, the actual numbers themselves could look like up to investors. Earnings for all financials in the S & P 500 are actually expected to expand in the first quarter by 4.3%. ET: NAHB Housing Market Index (April) Earnings: Charles Schwab, M & T Bank, State Street, J.B. Hunt Transport Tuesday 8:30 a.m. ET: Philadelphia Fed President Patrick Harker speaks on the economic outlook Earnings: AT & T, American Express, D.R.

☆ Goldman Sachs says these stocks are a safe place to hide even in this uncertain market
▼ + stars: | 2023-03-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

"A reopening in China also serves as a catalyst for accelerating revenue growth and upside in IRM's ITRenew business," he wrote. "We believe IRM's pricing power and expanding growth portfolio will drive attractive organic revenue growth," he added. ... Reopening in China also serves as a catalyst for accelerating revenue growth & upside in IRM's ITRenew business. ... IRM's revenue mgmt strategy is translating into healthy storage pricing trends. ... We believe IRM's pricing power and expanding growth portfolio will drive attractive organic revenue growth."

☆ Hunt, hemmed in by debt, set to focus on growth in UK budget
▼ + stars: | 2023-03-14 | by ( William Schomberg | ) www.reuters.com time to read: +5 min

Instead, hemmed in by his promise to lower the burden of Britain's 2.5 trillion pounds ($3.0 trillion) of debt, Hunt will seek to tackle some of the causes of Britain's long-term economic funk. "In the autumn we took difficult decisions to deliver stability and sound money," Hunt is due to say, according to excerpts of his budget speech. "Today, we deliver the next part of our plan: a budget for growth," he adds. Labour's would-be finance minister, Rachel Reeves, sought to keep the heat on Hunt by calling for urgent action now. In an attempt to soften that tax hit, Hunt has hinted at new incentives for business investment.

☆ UK's taxes are at a 70-year high. But its finance minister won't splash the cash at upcoming Budget
▼ + stars: | 2023-03-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

U.K. Finance Minister Jeremy Hunt has said Britain should have a "20-year plan" to become the world's next Silicon Valley. Public sector borrowing has also undershot by around £30 billion year-to-date, economists noted this week, in part reflecting higher-than-expected tax receipts. This will lend credence to Hunt's aims of bringing public sector net borrowing below 3% by 2027/28. LONDON — British Finance Minister Jeremy Hunt will deliver the government's Budget commitments on Wednesday against a better-than-expected economic backdrop, but economists expect him to stay cautious for now. The U.K. economy flatlined in the final quarter of the year to narrowly avoid entering a technical recession, though suffered a sharp slump in December.

☆ UK growth demands better-directed fiscal fireworks
▼ + stars: | 2023-03-13 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

As a former health minister, Hunt is familiar with the Hippocratic Oath’s principle of “first, do no harm.” That credo didn’t resonate with former finance minister Kwasi Kwarteng. The Institute for Fiscal Studies estimates that borrowing in the current financial year is running 31 billion pounds below the November forecast by the Office for Budget Responsibility (OBR), the UK’s independent fiscal watchdog. A further 6 billion pounds will freeze fuel duties, avoiding a 23% rise from April. In November, the OBR forecast that Downing Street would meet that goal with just 9.2 billion pounds to spare. That would still cost 11 billion pounds a year but would boost investment by 5% in the long run.

☆ World markets set for aftershocks as SVB collapse ripples out
▼ + stars: | 2023-03-12 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +5 min

LONDON, March 12 (Reuters) - Markets were set for a bumpy ride this week as the fallout from collapsed startup-focused lender Silicon Valley Bank (SVB), the biggest U.S. bank failure since the 2008 financial crisis, coincides with key economic data and policy meetings. It later recovered most of its losses after Circle, the firm behind it, assured investors it would honour the peg despite exposure to Silicon Valley Bank. SVB could have a domino effect on other U.S. regional banks and beyond. The S&P 500 regional banks index (.SPLRCBNKS) dropped 4.3%, bringing its loss for the week to 18%, its worst week since 2009. UK finance minister Jeremy Hunt's UK budget may be overshadowed by the SVB fallout in Britain.

☆ Britain's early retired resist calls to work, despite higher living costs
▼ + stars: | 2023-03-09 | by ( David Milliken | ) www.reuters.com time to read: +8 min

The exodus of older workers has no equivalent in other advanced economies. "The best part of 90% of people who say they are early retired ... say that they will probably or definitely never work again." Based on data from before the pandemic, Britain's Resolution Foundation found the richest fifth of 50-59 year olds were 10 times likelier to retire early than the bottom fifth. Other companies say they value older workers for their experience. "Older workers are the ones that have got the skills - we don't find young people with the skills that we need.

☆ Minority directors reach milestone 20% of Russell 3000 board seats
▼ + stars: | 2023-02-21 | by ( Ross Kerber | ) www.reuters.com time to read: +3 min

Still, most minority groups hold a smaller share of board seats than their share of the total U.S. population. Often the investors have found receptive audiences, but slow turnover on corporate boards has limited the pace of change, recruiters say. The biggest gain over the four-year period was for Black or African-American directors, who nearly doubled their share of board seats to 8.3% from 4.4% in 2019. They were most represented in the utility sector, with 12% of board seats, and least represented among information technology, energy and healthcare companies, each at 6%. Compared to Hispanics' total share of the U.S. population, their 3.6% share of board seats "isn't anywhere near where it's supposed to be," she said.

☆ Meet Gracie Hunt, the pageant-queen daughter of mega-wealthy Kansas City Chiefs' owner Clark Hunt
▼ + stars: | 2023-02-13 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

The Hunt family is one of the wealthiest families in America. Kansas City Chiefs owner Clark Hunt and family pose prior to the NFL Honors on February 1, 2020. Rich Graessle/PPI/Icon Sportswire/Getty ImagesLong before Lamar and Clark Hunt were considered football royalty, oil tycoon Haroldson Lafayette Hunt was known as one of the wealthiest men in America. The New York Times reported that H. L. Hunt founded the Hunt Oil Company in 1936 and used his fortune from the oil business to invest in other industries such as publishing, cosmetics, and pecan farming. In 2024, Forbes estimated that the Hunt family is worth an estimated $24.8 billion, and continues to own oil and gas companies around the world in addition to their sports empire.

Persons: Clark Hunt, Rich Graessle, Long, Haroldson Lafayette Hunt, Hunt, Forbes Organizations: America . Kansas City Chiefs, NFL, Lamar, The New York Times, Hunt Oil Company, Forbes Locations: America ., America, H.L

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