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☆ This $18 million Invisible House is the most expensive listing in Joshua Tree — and it's already a money-maker
▼ + stars: | 2023-05-18 | by ( Ray Parisi | ) www.cnbc.com time to read: +7 min

Brian AshbyThe modern glass architecture is situated on 67.5 acres just steps away from the Joshua Tree National Park. Brian AshbyThe home was designed by film producer and current owner, Chris Hanley, and Frank Gehry-collaborator, architect Tomas Osinski. According to co-listing agent Matt Adamo, the highest price ever achieved for a home in Joshua Tree was $3.5 million. The Invisible House in Joshua Tree, California is a mirrored 22-story horizontal skyscraper. The rooftop of the Invisible House is equipped with an array of solar panels that supply the home with electricity, heat and hot water.

"Markets reacted positively because they saw the inflation data as a small positive," said Michael Harris, president at hedge fund Quest Partners LLC. The rate-sensitive S&P 500 technology sector index (.SPLRCT) went up 1.22% and the communication services (.SPLRCL) rose 1.69%. REUTERS/Brendan McDermidIndexes were choppy during the session, as investors digested the positive inflation print with concerns about the looming debt ceiling. Advancing issues outnumbered decliners on the NYSE by a 1.32-to-1 ratio; on Nasdaq, a 1.40-to-1 ratio favored advancers. The S&P 500 posted 18 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 86 new highs and 152 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. The lower-than-expected inflation data drove the Nasdaq Composite Index (.IXIC) up as much as 1.17% to its highest intraday level in more than eight months. The rate-sensitive S&P 500 technology sector index (.SPLRCT) rose 0.82%, while communication services (.SPLRCL) was up 1.21%. Declining issues outnumbered advancers on the NYSE by a 1.17-to-1 ratio; on Nasdaq, a 1.03-to-1 ratio favored advancers. The S&P 500 posted 14 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 71 new highs and 135 new lows.

The Labor Department's Consumer Price Index (CPI) rose 4.9% in April from a year ago and compared with expectations of a 5% increase. "You still have a reasonably strong economy and rates that are not going any higher." ET, Dow e-minis were up 181 points, or 0.54%, S&P 500 e-minis were up 33.75 points, or 0.82%, and Nasdaq 100 e-minis were up 116.25 points, or 0.88%. Shares of regional banks rose after a few volatile sessions last week on concerns about the health of the sector. Oil and gas producer Occidental Petroleum Corp (OXY.N) fell 0.9% after its first-quarter earnings fell short of analysts' estimates.

Large-cap technology stocks, including Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O), dipped about 0.4% each in premarket trading. ET, Dow e-minis were down 62 points, or 0.18%, S&P 500 e-minis were down 7.25 points, or 0.18%, and Nasdaq 100 e-minis were down 25.25 points, or 0.19%. PacWest Bancorp (PACW.O) fell 2.5%, while Zions Bancorporation (ZION.O) and Western Alliance Bank (WAL.N) inched up 0.7% and 0.6%, respectively. Oil and gas producer Occidental Petroleum Corp (OXY.N) fell 1.5% after its first-quarter earnings fell short of analysts' estimates. Airbnb Inc (ABNB.O) lost 13.5% as the vacation rental booking company saw fewer bookings and lower average daily rates in the second quarter.

☆ Stocks stumble as investors' nerves show ahead of US inflation data
▼ + stars: | 2023-05-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

SINGAPORE, May 10 (Reuters) - Stocks were struggling to advance in Asia and the dollar was firm on Wednesday ahead of U.S. consumer price data that could damage hopes for interest rate cuts later this year if inflation fails to show much of a decline. Overnight the S&P 500 (.SPX) fell 0.5% and S&P 500 futures were steady in the Asian morning. A firm U.S. dollar pushed the euro back below $1.10 to $1.0971. Treasuries were broadly steady overnight, though debt-ceiling brinkmanship is warping the bills market as investors avoid bills maturing early in June. The dollar was also firm at 135.14 yen and has lifted slightly from recent lows on the Aussie , kiwi and sterling .

[1/2] A woman checks the arrivals and departures board at Chicago Midway International Airport in Chicago, Illinois, U.S. April 18, 2023. REUTERS/Jim Vondruska/File PhotoNEW YORK, May 10 (Reuters) - A gloomy forecast from vacation rental firm Airbnb (ABNB.O) weighed on travel-related stocks on Wednesday as an expected slowdown in bookings signaled an impending slump in travel demand with consumers seeking cheaper accommodation amid inflation and recession fears. Airbnb's forecast will heighten caution in the travel sector, which encompasses hotels, airlines, and vacation rental firms, according to an investor note by JPMorgan analysts, led by Doug Anmuth. "We also believe Airbnb's commentary will result in increased caution in the travel space, but more specifically around vacation and the U.S.," the analysts said. Reporting by Chibuike Oguh in New York; Editing by Lance Tupper and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Three Stock Lunch: ABNB, TWLO & NYT
▼ + stars: | 2023-05-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree Stock Lunch: ABNB, TWLO & NYTVictoria Greene, G Squared Private Wealth CIO, joins ‘Power Lunch’ to discuss three stocks: Airbnb, Twilio and New York Times.

May 9 (Reuters) - Vacation rental booking company Airbnb Inc (ABNB.O) said on Tuesday that it expected fewer bookings and lower average daily rates in the second quarter versus a year earlier, sending shares down 11.5% in after-hours trading. Average daily rates were flat year-on-year at $168. Nicholas Cauley, an analyst at Third Bridge, said pressure on household budgets was likely to result in consumers choosing more affordable accommodation, leading to a decline in average daily rates in future quarters. "Some of the pressures that we're seeing there on overall revenue growth has frankly just been some of the elevated (average daily) rates," Airbnb Chief Financial Officer David Stephenson told investors. The company said earlier this year that average daily rates would remain pressured as vacationers returned to lower-cost urban rentals.

☆ Airbnb forecasts slower bookings in Q2, shares fall
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

May 9 (Reuters) - Airbnb Inc (ABNB.O) said on Tuesday it expects bookings growth and average daily rates to decline in the current quarter, signaling a reverse in demand trends and sending the vacation rental firm's shares down 9%. Revenue rose about 20% to $1.82 billion from a year earlier, compared with the average analyst estimate of $1.8 billion. The company said earlier this year that average daily rates (ADRs) will remain pressured as vacationers return to lower-cost urban rentals. Its first-quarter average daily rates (ADRs) remained flat at $168 compared with a year earlier. It forecast second-quarter revenue between $2.35 billion and $2.45 billion, largely in line with analysts' expectations.

☆ Wall Street’s still worried despite Friday’s fakeout
▼ + stars: | 2023-05-07 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

In other words, Wall Street still has concerns about the banking sector’s health, the Federal Reserve’s interest rate trajectory and the possibility of recession. Key inflation reports aheadThe April Consumer Price Index and Producer Price Index are on deck for next week. The Fed on Wednesday raised interest rates by a quarter point and opened the door to a pause later this year. Wednesday: April Consumer Price Index and earnings report from Disney (DIS). Thursday: April Producer Price Index, mortgage rates and jobless claims.

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

☆ Top tech analyst Mahaney has 2 buys and a short going into first-quarter earnings
▼ + stars: | 2023-04-13 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Evercore ISI is gearing up for first-quarter tech earnings by making short-term, bullish calls and a tactical bearish recommendation. Well-known technology analyst Mark Mahaney said underperformance in first quarter earnings is less likely given the negative revisions already seen across the tech sector in recent quarters. 1-ranked analyst for five years, named two two of his favorite tech names going into first quarter earnings, and one stock to bet against. Wall Street's consensus for Meta's first-quarter revenue is reasonable while the second quarter's is beatable, Mahaney argued. While industry checks were in line with forecasts through the beginning of March, demand appears to have cooled later in the quarter, Mahaney said.

☆ Top Wall Street analysts expect these five stocks to fetch attractive returns
▼ + stars: | 2023-04-09 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Meta PlatformsWeakness in digital ad spending due to macro pressures has hit social media giant Meta Platforms (META) over the recent quarters. SoFi TechnologiesNext on our list is fintech firm SoFi Technologies (SOFI), which offers digital financial services to over 5.2 million members. The acquisition is expected to drive SoFi's mortgage growth and operational efficiencies and broaden its mortgage product offerings. (See SoFi Insider Trading Activity on TipRanks)PVHApparel company PVH (PVH), which owns popular brands like Calvin Klein and Tommy Hilfiger, delivered better-than-expected results for the fourth quarter of fiscal 2022. The analyst sees "an attractive risk reward profile" in PVH stock based on the company's earnings growth potential and current valuation.

April 6 (Reuters) - Shares of Airbnb Inc (ABNB.O) fell as much as 6% on Thursday after an online independent publication released a report that probed unpleasant experiences that customers had during stays booked through the short-term rental platform. The company's shares were last down 5% in afternoon trading. Nights and experiences booked rose 20% from a year earlier but missed analysts' estimates. Last month, a fire broke out in a building in Montreal being used by long-term residents and short-term guests who booked lodgings through Airbnb. Some of the company's top professional hosts have cut out Airbnb and built their own booking platforms and are offering cheaper deals.

☆ Canadian investigators seek seven missing after fire at Montreal building
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

[1/6] Firefighters watch as investigators inspect a three-storey heritage building in Old Montreal where a fire broke out last week leaving seven people unaccounted for, in Montreal, Quebec, Canada March 19, 2023. REUTERS/Christinne MuschiMONTREAL, March 19 (Reuters) - Police and fire officials in Canada said they were preparing on Sunday to search the rubble of a Montreal heritage building for seven missing people believed trapped after flames engulfed the site last week. Flowers were left across a courtyard from the beige stone building in the historic Old Montreal district as workers took steps to secure the three-storey structure which remained inaccessible to firefighters and police on Sunday morning. Montreal Police spokesperson Jean-Pierre Brabant said investigators had reason to believe there were victims inside. Reporting By Allison Lampert in Montreal Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Airbnb cuts recruiting staff headcount
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +1 min

March 3 (Reuters) - Home rental firm Airbnb Inc (ABNB.O) laid off some of its recruiting staff this week, a company spokesperson said on Friday, noting that it's not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4% of the San Francisco-based company's total workforce of about 6,800, the spokesperson said. "We've become a leaner and more focused company over the last three years," Airbnb spokesperson said in a statement, adding that the company expects to grow its headcount this year. The company said in February it expects headcount growth in the range of 2% to 4% in 2023, compared with 11% growth last year. In 2020, amid the COVID-19 pandemic, Airbnb laid off 25% of its workforce, or nearly 1,900 employees, after its business was hit hard as global travel came to a standstill.

☆ Airbnb cuts recruiting staff by 30%
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

March 3 (Reuters) - Home rental firm Airbnb Inc (ABNB.O) laid off 30% of its recruiting staff this week, a company spokesperson said on Friday, noting that it's not an indication of more widespread layoffs. The decision, first reported by Bloomberg News, affected less than 0.4% of the San Francisco-based company's total workforce of about 6,800, the spokesperson said. "We've become a leaner and more focused company over the last three years," Airbnb spokesperson said in a statement, adding that the company expects to grow its headcount this year. The company said in February it expects headcount growth in the range of 2% to 4% in 2023, compared with 11% growth last year. In 2020, amid the COVID-19 pandemic, Airbnb laid off 25% of its workforce, or nearly 1,900 employees, after its business was hit hard as global travel came to a standstill.

☆ U.S. travel companies experience high demand but economic worries cloud outlook
▼ + stars: | 2023-02-24 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +3 min

NEW YORK, Feb 24 (Reuters) - Fears of recession and the impact of inflation on consumer budgets could curb a rebound in travel demand reported by U.S. travel companies in the fourth quarter, although bookings are holding up so far this year, analysts said. U.S. travel spending in December 2022 totaled $97 billion, 3% above 2019 levels and 7% above 2021 levels, according to the U.S. Travel Association. The demand contrasts with declining home improvement sales and other discretionary purchases that have hurt furniture stores and retailers like Home Depot. International travel spurred demand growth for Airbnb and Marriott International Inc (MAR.O) in the fourth quarter. Group bookings are still down 15% compared to pre-pandemic levels, while headwinds in several industries continue to affect business travel, said Truist's Scholes.

☆ Booking Holdings says quarterly revenue up 36% on strong travel demand
▼ + stars: | 2023-02-23 | by ( Doyinsola Oladipo | ) www.reuters.com time to read: +1 min

NEW YORK, Feb 23 (Reuters) - Online travel agency Booking Holdings Inc (BKNG.O) reported a 36% year-over-year increase in fourth-quarter revenue on Thursday, aided by sustained travel demand. The Booking.com and KAYAK operator's revenue rose to $4 billion for the quarter, exceeding Wall Street's estimates for $3.89 billion in revenue, according to Refinitiv data. Gross bookings for the quarter rose 44% from the year-ago period to $27.3 billion, the company said. Booking Holdings said gross travel bookings for fiscal year 2022 increased 58% to $121.3 billion. Other U.S. travel companies including Booking's peer, vacation rental Airbnb Inc (ABNB.O), also reported strong fourth quarter results on sustained travel demand, despite economic concerns.

☆ Analysts like Airbnb's latest earnings but still see risks for the short-term rental stock
▼ + stars: | 2023-02-15 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Airbnb 's latest quarterly earnings outperformed expectations, but most analysts are still concerned about the stock going forward. Several analysts covering the stock reiterated their neutral or sell ratings on Airbnb a day after the company reported its calendar fourth-quarter results, citing ongoing risks for the short-term rental name. The analyst has a price target of $160 per share, implying upside of 32.3%. JPMorgan's Doug Anmuth also reiterated a neutral rating on the stock, noting that online travel is growing more competitive. Sheridan raised his price target on the stock to $98 per share from $87.

Feb 15 (Reuters) - Adobe Inc (ADBE.O) will need to secure European Union antitrust approval for its $20 billion bid for cloud-based designer platform Figma even though the deal falls short of the EU turnover threshold for a review, EU regulators said on Wednesday. The move by the European Commission underlines regulators' worries on Big Tech acquiring smaller innovative rivals and the impact on competition. Photoshop maker Adobe had originally sought approval from antitrust agencies in Austria and Germany for the deal. Austria subsequently referred the case to the Commission, prompting the other EU countries to join in. "We look forward to working constructively with the European Commission to address its questions and bring the review to a timely close," a spokesperson for San Francisco, California-based Figma said.

SummarySummary Companies Retail sales up 3% in Jan vs. est. A Commerce Department report showed retail sales surged 3% in January, driven by purchases of motor vehicles and other goods. "These numbers (retail sales) beat consensus by a long shot and it just shows that the consumer is still in a good spot," said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Of the more than half of the S&P 500 firms that have reported results so far, nearly 70% have topped profit expectations, as per Refinitiv data. ET, Dow e-minis were down 82 points, or 0.24%, S&P 500 e-minis were down 11.25 points, or 0.27%, and Nasdaq 100 e-minis were down 25.5 points, or 0.2%.

☆ Top 10 things the Club is watching in the stock market Wednesday: Retail sales up, stocks dip, Airbnb soars
▼ + stars: | 2023-02-15 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Retail sales for January came in higher than expected. Remember, retail sales are not adjusted for inflation, which of course remains elevated but growing at a slower rate in recent months. Earnings per share (EPS) of 48 cents versus 25 cents expected. Kraft Heinz (KHC) EPS beats: 85 cents versus 78 cents expected. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Airbnb confident on revenue as travel demand defies recession fears
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +1 min

A stronger U.S. dollar and reopening of closed borders have empowered consumers to spend more on travel even as recession fears have sparked concerns over discretionary spending. Airbnb said travel demand continues to be strong in the first quarter despite recessionary fears sparking concerns around consumer spending. The company forecast first-quarter revenue between $1.75 billion and $1.82 billion, higher than analysts' expectations of $1.69 billion, as per Refinitiv data. Revenue rose 24% to $1.90 billion during the holiday quarter ended December, lower than the preceding two quarters, but beat analysts' average estimate of $1.86 billion. Meanwhile, fourth-quarter average daily rates fell 1% to $153 and bookings rose 20% to $13.5 billion, below analysts' average expectation of $13.69 billion.

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