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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.
For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. But stocks still face a host of issues, none of which are going away next week.
[1/4] South Korean President Yoon Suk Yeol delivers remarks to the U.S.-Korea Business Council at the U.S. Chamber of Commerce in Washington, D.C., U.S., April 25, 2023. He said the two countries' economies had been facing new challenges and the economic slowdown was unsettling the investment environment. "Competition for technological hegemony, energy issues and climate crises are casting more uncertainties on business activity day by day," Yoon said. "This cooperation should extend beyond semiconductors to future emerging technologies such as AI, Quantum, SMR (Small Modular Reactors) and more," Yoon said. Core technologies from the United States and South Korea's advanced manufacturing capabilities would "create enormous synergies that will benefit both countries," he said.
The lucky breaks that built Nike
  + stars: | 2023-04-08 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
Fittingly as "Air" hits theaters, Nike will release an Air Jordan in "lucky green." "Luck plays a big role," Nike cofounder Phil Knight wrote in the closing of his 2016 memoir, "Shoe Dog." Athletes get lucky, poets get lucky, businesses get lucky." Knight wrote. Next Wednesday, Nike will release the "Black and Lucky Green" Air Jordan 1.
Eight top Olaplex employees have left the company since October, Insider has learned. Her LinkedIn profile says she joined the online-game company Big Fish this year as vice president of people and culture. Kathy Lewis, Olaplex's vice president of education, had been on "contracted sabbatical" since December, according to her LinkedIn profile. The hair-care brand Wella said in a LinkedIn post last week that it hired Lewis as the vice president and global head of education. Olaplex grew its head count over the following year to 174 employees, according to its 10-K filing in February.
French cosmetics giant L'Oreal plans to buy Aesop for $2.5 billion. Aesop is an Australian skincare brand, known for its simple marketing and gender-neutral products. Aesop is an Australian brand that dates back to 1987 when founder Dennis Paphitis opened a Melbourne hair salon and began mixing essential oils into hair products. Today, it's known for luxurious home fragrances, hair oils, and skincare products, which are served up in apothecary-style brown bottles. It has become an aspirational brand for wealthy millennials who are happy to spend $40 on its hand wash to make their bathrooms look more upmarket.
Thyssenkrupp Nucera held talks about several potential green hydrogen projects "with very concrete timelines" during a trip to the United States last week, Chief Executive Werner Ponikwar said in an interview. Green hydrogen, produced using renewable energy, is seen as key to decarbonising industry and so meeting climate targets. "We are gaining a new growth market," Ponikwar said. Ponikwar expects the U.S. hydrogen market to grow to a mid double-digit gigawatt (GW) amount by the end of the decade, from just a few hundred megawatts currently. While the IRA supports hydrogen production, it does not require makers of hydrogen equipment to produce locally, unlike other renewable technologies where that's a condition to qualify for credits.
Meta Platforms ' (META) "year of efficiency" set to continue: Bloomberg is reporting job cuts in the thousands could happen as soon as this week. WW International (WW) is higher after announcing deal to acquire the anti-obesity-focused telehealth provider Sequence. (Jim Cramer's Charitable Trust is long META, LIN, CSCO, AMZN, LLY. 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.
Dozens more customers have joined an ongoing lawsuit against the TikTok-famous brand Olaplex. More than 100 customers now say in an amended suit that they suffered physical injuries like hair loss. Olaplex has said clinical tests have shown its hair products to be "safe and effective." Dozens of customers have joined an amended complaint filed Thursday night in California federal court, adding to a rising volume of allegations that Olaplex products can cause hair loss and scalp problems. "However, Olaplex products do not cause hair loss or hair breakage."
Olaplex, facing a new lawsuit over its hair products, said tests show its products are safe. The brand, a staple in TikTok hair care routines, posted "third-party" test records on its website. "As such, there is no induced inflammation to the hair follicle, which is the primary cause of hair loss." The test reports that Olaplex posted were issued by a number of laboratories including BioScreen Testing Services Inc., Consumer Product Testing Company, and Brazil-based Allergisa Pesquisa Dermato Cosmética Ltda. A representative for Olaplex said on Wednesday that the HRIPT reports are "industry standard and reflect the use of Olaplex products under real world conditions."
All that extra cash should support strong spending through February and perhaps March, said Bank of America analysts. That means the Fed may use the strong data as an excuse to keep hiking interest rates. Recession risk may be deferred, but it certainly hasn’t dissipated.”PPI, housing starts and bald spots: What investors are watching today▸ Thursday morning brings two big data releases: The January Producer Price Index and housing starts. ▸ Housing starts, a measure of new home construction, have declined every month since August. Housing starts are expected to decline slightly.
"We do think stocks have pretty good upside from here," he said. That should give the stock market a little bit of a tailwind," Katz said on Friday. "We generally find that we're successful buying fallen angels or growth stocks that have long trajectories at value prices." "[We] recommend that investors position portfolios for better times 12 months out and play offense, not defense," he added. Stock picks Katz named four stocks he said look like quality businesses at attractive prices right now.
Insider has previously reported on Olaplex customers who said they experienced hair loss and got refunds. "OLAPLEX products do not cause hair loss or hair breakage," a spokesperson for the company told Insider in a statement. Insider has previously reported on customers alleging that they experienced hair loss after using Olaplex products and reported that some had even received refunds. Olaplex's statement added that there are "a wide variety of reasons for hair breakage or hair loss," calling the allegations in the lawsuit, "baseless accusations." "Defendants have been dismissive of their customers' hair loss, instead describing hair shedding as normal and unavoidable and attributing the hair loss to a long list of other potential causes," they wrote.
Olaplex has been sued by customers who alleged its products damaged their hair and scalp. Companies like Thinx, P&G, and Unilever have set aside millions of dollars to settle consumer suits. The suit's allegations follow a pattern familiar in other consumer lawsuits, which have also targeted companies' advertising and the ingredients in their products. In that case, customers said Devacurl's curly hair products contained ingredients that released formaldehyde and caused skin irritation, and said the company had quietly changed ingredients and formed a committee to handle negative publicity. Devacurl has said on its settlement website that it "vigorously denies" claims of health problems like hair loss and scalp problems.
Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. 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.
Late Wednesday, Meta reported revenue that topped analysts' expectations and announced a $40 billion stock buyback plan. Firms also responded positively to Meta's earnings report, with Bank of America and Goldman Sachs rating the stock a buy. W.W. Grainger reported adjusted quarterly earnings of $7.14 per diluted share, which came in ahead of the $7.01 per share estimated by analysts, according to FactSet. Align Technology — The orthodontics company saw its shares surge 28% the day after its quarterly earnings and revenue beat analysts' expectations, according to Refinitiv. The company posted earnings and revenue that came in short of analysts' estimates, according to FactSet.
While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.
Thinx customers can now seek recoveries as part of a settlement by the period underwear brand. The news may have some customers wondering: Can I, too, recoup money spent on a product that let me down? Instead, these cases — which can take years — may recoup only a portion of customers' spending on the products in question. The Thinx settlement includes a $4 million pot to pay customers and legal fees, and as much as another $1 million for any required "valid claims," according to the settlement. Unilever agreed to the settlement while "denying wrongdoing of any nature and without admitting liability," according to the settlement agreement.
In the race to reduce global carbon emissions to zero, clean hydrogen is increasingly expected to be a winner. As the costs of renewable power falls, green hydrogen is becoming a better solution to decarbonization, Goldman said. How to play it Goldman said buy-rated First Solar is among the key players in the generation of green hydrogen. Experts say the tax credit makes nuclear hydrogen highly competitive with fossil fuel produced hydrogen, as companies can look to make clean hydrogen without losing any money. Goldman identified both Air Products & Chemicals and Linde as integrated clean hydrogen supply chain players.
But with the dollar's stunning reversal since then, some companies should conversely start to catch a currency break and potentially see upside surprises. In the fourth quarter, because of the sophisticated hedging strategies from companies, they may not get the full benefit of the dollar's decline. Johnson & Johnson, for instance, said fourth quarter sales fell, in part because of the negative impact from currency translation. 3M said fourth quarter sales were 5% lower than they would have been were it not for the stronger dollar. Sacconaghi said the market has typically rewarded tech companies' "currency beats."
That debate will get renewed attention in April when Ben Affleck and Matt Damon release "Air," a movie that recounts how Nike signed Jordan. "A lot of people want to take credit for signing Michael Jordan, most obviously Sonny Vaccaro." It's unclear if Vaccaro spoke with Knight, Vaccaro, or Jordan or if he relied on existing sources, including "Sole Man," an ESPN documentary about Vaccaro. Several books and news stories also have recounted how the Jordan deal came about, including parts of "Just do it," "Swoosh," and a sweeping 1992 story in the Washington Post. Regardless of the movie's spin on events, the Jordan deal was a pivotal moment for Nike.
As the planned transition takes shape, there's been a lot of talk about the relationship between hydrogen and natural gas. "Now, what we can start to do today is … start to blend it with green hydrogen," he added. "But it's just difficult to see that you're going to have enough green hydrogen to substitute it like, in the next 10 years." Produced using electrolysis and renewables like wind and solar, green hydrogen has some high-profile backers. "We see green hydrogen as playing probably the most important role in the energy transition," she said.
Insider interviewed 10 former Olaplex users who voiced concerns about Olaplex on social media and in emails to Insider. Asked about the symptoms that the Olaplex users experienced, an Olaplex spokesperson told Insider: "We take each and every customer inquiry very seriously. Aftering switching to a drugstore brand of hair products, she said she saw an immediate reduction in hair loss. Keannia Johnson said her hair fell out and turned straw-like in texture after using Olaplex products. She started using Olaplex products in April.
The Vanguard High Dividend Yield Index (VYM) , for example, with more than $50 billion in assets, saw shares outstanding increase 20%. Dividend ETFs are typically divided into two groups: high dividend and dividend growers. ETFs that specialize in high dividends include iShares Select Dividend ETF (DVY) and Vanguard High Dividend Yield ETF (VYM), and these are typically paying yields in the 3% range. Dividend growers include ProShares S & P 500 Dividend Aristocrats ETF (NOBL) , Vanguard Dividend Appreciation (VIG) and Schwab U.S. Dividend Equity ETF (SCHD) . There are 58 of those in the S & P 500, including Caterpillar, Air Products, Franklin Resources, Aflac, and Procter & Gamble.
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