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☆ Target shares plunge 21% after discounter cuts forecast, posts biggest earnings miss in two years
▼ + stars: | 2024-11-20 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

The big-box retailer reversed course and cut its full-year profit guidance, just three months after hiking that forecast. That's lower than the $9 to $9.70 per share range that it shared in August and below the $9.55 a share expected by analysts, according to StreetAccount. That metric, which is also known as same-store sales, includes sales on its website and stores open at least 13 months. The company fell short of Wall Street's earnings per share estimate by 20%, its biggest miss in two years. Target eked out a comparable sales gain of 0.3%, as shoppers spent more on its website but less at its stores.

Persons: Brian Cornell, Michael Fiddelke, Rick Gomez Organizations: LSEG, Shoppers, Target Locations: Selinsgrove . Target

☆ Jim Cramer looks at Target earnings, says consumers are loyal to value and not brands
▼ + stars: | 2024-11-20 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Wednesday said consumers right now aren't focused on brand names, but on companies that can provide the most value. The big box retailer cut its full-year guidance, and management said it saw weakness in discretionary products despite price cuts. Although the two retailers offer similar products, Cramer said Walmart is simply more affordable. He also named other discount outfits that are seeing success despite a tough consumer landscape, including Costco , TJX , Chili's-parent Brinker and Texas Roadhouse . On Wall Street, this focus on value extends beyond consumer companies and to sectors like tech, Cramer added.

Persons: CNBC's Jim Cramer, we're, " Cramer, Cramer, Brinker, Microsoft — Organizations: Target, Walmart, Costco, Texas, Nvidia, Google, Oracle, Microsoft

☆ NHL Commissioner Bettman: There's nothing more valuable than sports content
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNHL Commissioner Bettman: There's nothing more valuable than sports contentGary Bettman, NHL commissioner, joins 'Squawk Box' to discuss how valuable sports content is, the league's media deal in Canada, and much more.

Persons: Bettman, Gary Bettman Organizations: NHL Locations: Canada

☆ Target's quarter was worse than expected by a wide margin, says Melius Research's Karen Short
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTarget's quarter was worse than expected by a wide margin, says Melius Research's Karen ShortKaren Short, Melius Research retail analyst, joins 'Squawk Box' to discuss what Target's executives are saying about earnings, positive things in the company's quarter, and much more.

Persons: Melius Research's Karen Short Karen Short Organizations: Melius Research

“We’re expecting this holiday period to be very consistent with that,” he said. Retailers, including Walmart, are contending with a mixed bag of factors this holiday season. The holiday season is also shorter this year and parts of the U.S. have had unseasonably warm weather, two dynamics that could hurt retailers. That would be lower than the 3.9% year-over-year jump from the 2022 to 2023 holiday season, when spending totaled $955.6 billion. Rainey said the holiday period is “off to a pretty good start.”He said items like TVs, Apple AirPods, Beats headphones and even tires have been selling.

Persons: John David Rainey, “ We’re, ”, “ They’re, Rainey, Walmart’s, Donald Trump’s, it’s, We’ve Organizations: Walmart, CNBC, LSEG, New York Stock Exchange, Sam’s, Walmart U.S, U.S, National Retail Federation, Apple Locations: U.S, China

Now, Fonsi is making his debut as a lead actor in the film “Say a Little Prayer,” which opens at AMC and other theaters nationwide Friday. The movie, which features a nearly all-Latino cast, follows the romantic adventures of three best friends in San Antonio. “And to be able to do that in a film is great.”A poster for “Say a Little Prayer,” opening Friday. Luis Fonsi performs the theme song from “Say a Little Prayer” in San Antonio. The cast and crew of “Say a Little Prayer” in San Antonio in October.

Persons: Luis Fonsi's, “, ”, I’d, Anthony, Rafael, It’s, valentine, Fonsi, ” Fonsi, Vannessa Vasquez, Jackie Cruz, Vivian Lamolli, Angélica María, Chris Kattan, Luis Fonsi, Patrick Perez Vidauri Vasquez, Adela, Vasquez, ” Vasquez, carne, Selena, ’, Latinas, Cristina Nava, ” Nava, ” Vivian Lamolli, Nava, Jeff Valdez, Sol Trujillo, Edward James Olmos, Olmos, El Viaje, It's, Daddy Yankee, That’s, “ I’m Organizations: NBC News, AMC, Productions, westside, Centro de Artes, San, San Fernando Cathedral, “, Hulu, Cadence Productions, McKinsey & Company, El, YouTube Locations: Miami, Madrid, San Antonio, San Fernando, Mexican, Houston, Los, Latina, Antonio, Hollywood, “, America, U.S, Spain, Puerto Rico

For “Interior Chinatown” star Jimmy O. Yang, playing an invisible Chinatown extra in the new series hit close to home. “Interior Chinatown,” based on the National Book Award-winning novel of the same name by Charles Yu, is technically a show within a show. His character, Willis, sneaks into “Black and White” by disguising himself as the tech guy and the Chinese food deliveryman, using these stereotypes to his advantage. Though Willis learns to jump between the worlds of “Black and White” and Chinatown, Fatty stubbornly refuses to leave the Chinese restaurant where the two friends work. “We were really strategic with when to highlight the fact that I came from both worlds,” Bennet said.

Persons: Jimmy O, Yang, Willis Wu, Charles Yu, — Yang, Chloe Bennet, Ronny Chieng —, Willis, ” Yang, “, “ We’re, ”, Fatty Choi, Fatty, ” Chieng, Mike Taing, Lana Lee, Bennet, ” Lee, Lana, ” Bennet, “ Lana, Charlie, Yu Organizations: Hulu, Chinatown Locations: “, Chinatown, America, Hulu

☆ I took a job at JP Morgan for the prestige. Quitting to travel changed the way I view success.
▼ + stars: | 2024-11-19 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +5 min

AdvertisementAshley Tan got a job at JP Morgan in Singapore after graduating from university. This as-told-to essay is based on a conversation with Ashley Tan, 29, who quit her job at JP Morgan Singapore to travel. After graduating from university, I went straight to work and took a role at JP Morgan for the company name. I joined JP Morgan because of it's prestigeI was hired by JP Morgan in December 2022 as an events and marketing analyst. It was scary, but I officially quit JP Morgan in March because I knew I'd regret it if I didn't take the risk.

Persons: Ashley Tan, Tan, It's, I've, JP Morgan, Morgan, I'd, it's, it'll, I'm, what's, you've, Tess Martinelli Organizations: Morgan, JP Morgan, JP, Singapore Locations: Singapore, JP Morgan Singapore, Bali, Europe, Australia, tmartinelli

☆ Stocks making the biggest moves midday: Walmart, Lowe's, Intuit, Kraft Heinz and more
▼ + stars: | 2024-11-19 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Walmart — The big-box retailer saw shares jump nearly 5% to hit a record after the retail giant topped fiscal third-quarter earnings and revenue expectations. The retailer also hiked its outlook again as it saw growth in e-commerce and improvements in sales outside of the grocery aisles. Lowe's — The home improvement retailer dropped more than 3% after saying it expects sales to decline in 2024 . Kraft Heinz — The packaged food company dipped about 1% after a Piper Sandler downgrade to neutral from overweight. Insmed — Shares rallied more than 8% after the drugmaker terminated a $500 million equity sales agreement with health-care investment bank Leerink Partners.

Persons: Young, Lowe's, Kraft Heinz —, Piper Sandler, Kraft Heinz, Robert F, Kennedy Jr, Trump, —, Wall, Symbotic, Donald Trump's, Jesse Pound, Yun Li, Sarah Min, Alex Harring, Sean Conlon, Pia Singh Organizations: Walmart, BDO, Ernst, Nasdaq, Leerink Partners, Viking Holdings, Revenue, Intuit, Washington Post, Donald Trump's Department, Government

☆ Bitcoin edges higher as tensions mount between Ukraine and Russia
▼ + stars: | 2024-11-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Both stocks benefit from the trading of other, non-bitcoin assets across the crypto market. Bitcoin moved higher Tuesday even as other risk assets sold off amid rising geopolitical tensions between Ukraine and Russia. That drove bitcoin to fresh records and sent smaller crypto assets soaring. Like gold, crypto assets are seen by many investors as a "non-confiscatable," long-term hedge against geopolitical uncertainty. Citigroup, for example, in a note Monday reiterated the bank's view that bitcoin doesn't exhibit store-of-value properties.

Persons: Robinhood, cryptocurrency, Bitcoin, Vladimir Putin, Joe Biden, bitcoin, Matt Sigel, Sigel Organizations: Metrics, Investors, U.S, U.S ., Citigroup Locations: Coinbase, Ukraine, Russia, U.S

☆ I tried 20 of Trader Joe's popular breakfast foods, and I'd buy most of them again
▼ + stars: | 2024-11-19 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +27 min

AdvertisementI tried 20 breakfast foods from Trader Joe's, from Greek yogurt to pancakes. I tried some of Trader Joe's most popular breakfast foods as part of an ongoing series to review the chain's best items. VERDICT: Because of its convenience, Trader Joe's brioche French toast is worth trying at least once. AdvertisementVERDICT: Though I prefer a more traditional sandwich with actual bread, I'd be willing to buy Trader Joe's eggwich again. I didn't like Trader Joe's chicken-sausage breakfast bowl at allTrader Joe's chicken-sausage breakfast bowl wasn't my favorite.

Persons: Joe's, Wilson, you'll, I'm, I've, I'd, could've, wasn't ravenous, Wilson I've, Savanna, —, Joe's eggwich Organizations: Wilson Locations: Savanna, scone

☆ The 'Wicked' movie only covers part of the musical. Here's everything we know about the second film.
▼ + stars: | 2024-11-19 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +5 min

AdvertisementThe "Wicked" movie, coming to theaters on Friday, only covers part of the original musical's plot. A second film is coming in November 2025 to complete the story. Related VideoIt remains true even as Universal is marketing the movie as "Wicked," instead of "Wicked Part One." Elphaba's younger sister, Nessa, has become a cruel governor of Munchkinland and earned the title of the Wicked Witch of the East. There has been no casting announcement to suggest Dorothy will have a larger role in the second film.

Persons: Jon M, Chu, Elphaba, Oz, Ariana Grande, Cynthia Eviro, Michelle Yeoh, Steven Spielberg's, haven't, Marc Platt, Stephen Schwartz, Platt, Jeff Goldblum, Madame Morrible, Giles Keyte, Cynthia Erivo, Glinda, Schwartz, Grande, Dorothy's, Dorothy Organizations: Broadway, Universal, Warner Bros, Entertainment, Grande, Shiz University Locations: Shiz

☆ Here's what to expect in Russia's response to Ukraine's long-range missiles
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what to expect in Russia's response to Ukraine's long-range missilesElbridge Colby, Deputy Assistant Secretary of Defense in the Trump administration, joins 'Squawk Box' to discuss the recent comments from Putin, the threat of a nuclear escalation, and much more.

Persons: Elbridge Colby, Trump, Putin Organizations: Defense

☆ Sen. Markwayne Mullin on Trump's cabinet picks and tariffs
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Markwayne Mullin on Trump's cabinet picks and tariffsSen. Markwayne Mullin (R-Okla.) joins 'Squawk Box' to discuss Trump's priority of tariffs, the search for a Treasury Secretary, and much more.

Persons: Email Sen, Markwayne Mullin Organizations: Email, Sen

☆ Jim Cramer explains why budget retailers like Walmart are seeing success
▼ + stars: | 2024-11-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

The big box retailer posted an earnings and revenue beat on Tuesday, impressing Wall Street and sending the stock to a new 52-week high, up 3% by the close. Walmart highlighted growth in its e-commerce segment and advertising business as factors that contributed to its success. But to Cramer, the main reason Walmart's quarter impressed Wall Street is its affordable merchandise and price reductions. Walmart and peer retailers that focus on value — like Amazon and Costco — are what consumers want right now, and these retailers are some of the only ones that can afford large price rollbacks, he added. "There's something going on underneath, something that's hurting every department store, every dollar store, every mall store," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wall Organizations: Walmart, Costco Locations: U.S

☆ Oura CEO on new partnership with Dexcom
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOura CEO on new partnership with DexcomTom Hale, Oura CEO, joins 'Squawk Box' to discuss the company's new partnership with Dexcom, glucose monitors, and much more.

Persons: Dexcom Tom Hale

☆ Former Google CEO on the company's antitrust battle with the DOJ
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Google CEO on the company's antitrust battle with the DOJEric Schmidt, former Google chairman and CEO, joins 'Squawk Box' to discuss Schmidt's most recent book, if Google needs to divest part of its business, and if the whole antitrust game will change under Trump.

Persons: DOJ Eric Schmidt Organizations: DOJ, Trump

☆ Martha Stewart on 100th book and new Netflix documentary
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMartha Stewart on 100th book and new Netflix documentaryMartha Stewart, entrepreneur and author of ‘Martha: The Cookbook’, joins 'Squawk Box' to discuss how different the role of books is from the time Stewart wrote her first book, Stewart's takeaways on her Netflix documentary, and much more.

Persons: Martha Stewart, ‘ Martha, Stewart, Stewart's takeaways Organizations: Netflix

☆ Roblox CEO on new safety updates following October Hindenburg report
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoblox CEO on new safety updates following October Hindenburg reportDavid Baszucki, Roblox CEO, joins 'Squawk Box' to discuss the list of new safety products available for users, the chief executive's first reactions to the short report, and much more.

Persons: Hindenburg, David Baszucki

☆ Ikea group CEO tells BI shoppers are trading down to save money
▼ + stars: | 2024-11-19 | by ( Nora Redmond | ) www.businessinsider.com time to read: +3 min

And while the past year has been challenging, this strategy is paying off, according to Jasper Brodin, CEO of Ikea's parent company, Ingka Group. "People have the same needs, but they have much less money in their wallet," he added. AdvertisementHowever, Ikea has benefited from investing in low prices because it has attracted more shoppers away from pricier rivals. AdvertisementBecause of this, he said that Ikea customers are largely engaging in needs-based shopping, picking up the necessities first, like a new bed or kitchen table, instead of non-essential items. "There is a large stimulus package coming from the government right now, which is helping, but people have been holding on to their money," Brodin said.

Persons: Jasper Brodin, — Brodin, —, Nora Redmond, lockdowns, Brodin Organizations: Ikea, Ingka, Oxford, Starbucks Locations: London, China

☆ Doubts mount over Britain’s ambitious growth plans — with warnings of further tax rises possible
▼ + stars: | 2024-11-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

A higher economic growth rate could theoretically boost the government's tax take without the need to raise taxes further, because overall revenues would be higher. The OBR now expects U.K. real GDP growth of 1.1% in 2024, followed by expansion of 2% in 2025, before falling to 1.5%. The Labour government did not immediately respond to CNBC's request for comment on further possible tax changes. 'Desperate' growth ratesThe U.K. economy barely grew in the third quarter, eking out a less-than-expected 0.1% expansion, data from the Office for National Statistics showed Friday. We've had 1% growth, or around 1% growth now since the Financial Crisis.

Persons: Rachel Reeves, James Smith, CNBC's, John Grieve, Reeves, Gieve, —, Labour's, ING's Smith, We've Organizations: Treasury, Getty, Labour, Finance, ING, of, CNBC, National Insurance, Office, National Statistics, Gross Locations: London, England

☆ Rare silver coin struck before the American Revolution sets auction record
▼ + stars: | 2024-11-19 | by ( Issy Ronald | ) edition.cnn.com time to read: +3 min

CNN —An American silver coin dating back to the 17th century, before the United States was founded, has sold for a record-breaking $2.52 million at auction, eight years after it was discovered in an old cabinet in Amsterdam. The threepence coin was struck in 1652 in Boston just weeks after the first mint in the then-British colony had opened, according to a statement released Monday by Stack’s Bowers Galleries, which handled the sale. This was a threepence coin, as shown by the Roman numerals on one side of it. A rare 1794 silver dollar believed to be one of the first – if not the first – made by the US mint sold for $10 million in 2013. Meanwhile, a rare 1933 “Double Eagle” coin, one of the last gold coins ever struck for circulation in the US, sold for $18.9 million in 2021.

Persons: Stack’s Bowers, Ma, Stack's Bowers, Thomas Brand Hollis, Netherlands John Adams, Adams, Abigail, John Hull, Ben Orooji Organizations: CNN, Stack’s Bowers Galleries, United States Mint, Boston Mint, Massachusetts Historical Society, Yale College Locations: United States, Amsterdam, Boston, British, Netherlands, Quincy, New England, Massachusetts, England, American

☆ Markets will rally into year-end and potentially be strong next year too: Defiance ETFs' Jablonski
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarkets will rally into year-end and potentially be strong next year too: Defiance ETFs' JablonskiSylvia Jablonski, Defiance ETFs CIO and CEO, joins 'Squawk Box' to discuss the market's reaction to new reports out of Ukraine, the promises that won't be delivered from the Trump campaign, and Jablonski's thoughts on equity valuations.

Persons: Sylvia Jablonski, Trump Locations: Ukraine

☆ Watch CNBC's full interview with the former Google CEO Eric Schmidt
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the former Google CEO Eric SchmidtEric Schmidt, former Google chairman and CEO, joins 'Squawk Box' to discuss Schmidt's most recent book, if Google needs to divest part of its business, and if the whole antitrust game will change under Trump.

Persons: Eric Schmidt Eric Schmidt Organizations: Google, Trump

☆ What DOJ's focus on Google means for the tech company
▼ + stars: | 2024-11-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat DOJ's focus on Google means for the tech companyAneesh Chopra, former White House CTO under President Obama and Arcadia chief strategy officer, joins 'Squawk Box' to discuss the Department of Justice's aim at Google, what could change with the company's ad network, and much more.

Persons: Aneesh Chopra, Obama Organizations: White, Google Locations: Arcadia

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