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☆ Don't act on new activist push for board seats at Salesforce before earnings, Benioff reaction
▼ + stars: | 2023-03-01 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Hedge fund Elliott Management's decision to nominate candidates for Salesforce 's (CRM) board represents an escalation of the activist agitation at the Club holding. The Club generally believes activists' wishes for cost-cutting at Salesforce are positive, as long as Benioff remains at the helm. It's unclear whether Elliott is nominating two or three candidates for Salesforce's board, according to CNBC's David Faber, who broke the story Wednesday morning . Benioff is chairman of Salesforce's board. However, we don't want the activist pressure at Salesforce to cause Benioff to depart the company.

☆ Norwegian Cruise sees weak annual profit as fuel, labor costs soar
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Feb 28 (Reuters) - Norwegian Cruise Line Holdings Ltd (NCLH.N) on Tuesday forecast full-year profit below Wall Street estimates, as the cruise operator struggles with soaring fuel and labor costs even as travel demand bounces back. Cruise operators like Carnival Corp (CCL.N) and Norwegian Cruise Line Holdings (NCLH.N) have been struggling with rising interest rates, a stronger dollar and soaring food as well as fuel prices due to the conflict in Ukraine. The cruise operator forecast a profit 70 cents per share for 2023, compared with estimates for a profit of $1.06, according to IBES data from Refinitiv. The company forecast a loss of 45 cents per share for the first quarter, compared with estimates for a loss of 33 cents per share. Fourth-quarter revenue rose to $1.52 billion from $487.4 million a year earlier, compared with analysts' average estimate of $1.50 billion.

☆ Norwegian Cruise 2023 profit forecast falls short; shares slide
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

Feb 28 (Reuters) - Norwegian Cruise Line Holdings Ltd (NCLH.N) forecast for its first annual profit in three years fell short of estimates on Tuesday, as the cruise operator battles soaring fuel and labor costs. Shares fell about 7% in premarket trading after the company's first-quarter loss expectation was bigger than expected. The cruise operator forecast an adjusted profit of 70 cents per share for 2023, compared with estimates of $1.06, according to IBES data from Refinitiv. However, affluent passengers unaffected by high inflation have boosted booking volumes and occupancy rates, helping the company beat fourth-quarter revenue estimates. The "wave season" is the period during January - March where cruise operators offer special deals and discounts for the year to attract customers.

☆ Tesla, tech and travel stocks have ginormous gains this year
▼ + stars: | 2023-02-28 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

Beaten-up travel stocks have also enjoyed solid gains this year, as investors bet that the worst-case fears of an imminent recession may turn out to be for naught and consumers catch up on missed travel. Some fear this ferocious rebound in consumer and tech stocks may be happening too quickly. “That means there are broader opportunities outside of tech and growth stocks and more in the value and small cap sectors.”Growth stocks, and tech in particular, make more sense as investments if the Fed were set to start slashing interest rates. Add all that up and it could mean that the recent rebound for Tesla, big techs and media firms and other consumer stocks could be short-lived. “Inflation and interest rate uncertainty means we continue to believe value stocks, including the global energy sector, will outperform growth stocks,” Haefele said.

☆ Salesforce, activist investor Elliott may soon reach deal - sources
▼ + stars: | 2023-02-17 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Feb 17 (Reuters) - Cloud-based software firm Salesforce Inc (CRM.N) and activist investor Elliott Management Corp are in discussions to reach an agreement that may end a possible board challenge, according to two people familiar with the matter. The battle at Salesforce has pitted Elliott as well as other activist investors against Marc Benioff, one of Silicon Valley's most iconic chief executives. Salesforce's growth has slowed dramatically in recent quarters and last month the company said it would cut 10% of jobs to address its performance. Representatives for Salesforce and Elliott declined to comment. Elliott too has long invested in technology companies and in the past reached settlements for board seats with companies including Pinterest (PINS.N), Twitter and eBay (EBAY.O).

☆ Here are Wednesday's biggest analyst calls: Tesla, Apple, Target, Walmart, Microsoft, Roku & more
▼ + stars: | 2023-02-08 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Wednesday's biggest calls on Wall Street: CFRA downgrades Roku to sell from hold CFRA said it sees "challenging fundamentals" for Roku . Piper Sandler reiterates Target as overweight Piper said Target is a key beneficiary of Bed Bath & Beyond struggles. Bank of America reiterates Chipotle as buy Bank of America said it sees more earnings per share upside after the company's earnings report on Tuesday. Bank of America reiterates Domino's as buy Bank of America said it's bullish on Domino's launch of loaded tater tots. Bank of America reiterates Microsoft as buy Bank of America said it's bullish long-term on Microsoft's venture into AI.

☆ Royal Caribbean reports smaller-than-expected loss; forecast disappoints
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Feb 7 (Reuters) - Royal Caribbean Group (RCL.N) reported a smaller-than-expected loss for its fourth quarter on Tuesday, as pent-up demand for leisure travel helped offset the pressures from rising fuel prices and stronger dollar. In late December, Carnival Corp (CCL.N), (CCL.L) also said it was seeing a strong start to the wave season after it posted a smaller-than-expected quarterly loss. Royal Caribbean saw occupancy rates rise to 94.9% in the fourth quarter ended Dec. 31, compared to 59.3% a year earlier, when Omicron-related restrictions dampened demand for cruises. It reported a fourth-quarter loss of $1.12 per share, compared with analysts' expectations of a loss of $1.34, according to Refinitiv IBES data. However, the cruise operator missed revenue estimates for the fourth quarter and forecast 2023 adjusted profit between $3.00 and $3.60 per share, compared with estimates for a profit of $3.31.

☆ 2022's stock losers are this year's winners so far
▼ + stars: | 2023-01-30 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But it’s still been a solid start to the year for the market — and many of last year’s losers have led the way on Wall Street so far in January. Discovery, which plunged nearly 60% last year, has surged 55% so far in 2023 and is the best performer in the S&P 500. Rising market tide lifting questionable boatsStill, some investors are worried this year’s market rally is eerily reminiscent of prior market bubbles. GameStop (GME) is up nearly 25%. “Most investors don’t realize the Fed has to fight the inflation in the stock market, too,” Trainer added.

☆ Salesforce appoints new board directors amid activist investor pressure
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

Jan 27 (Reuters) - Salesforce Inc (CRM.N) on Friday named three new board directors, including the chief of hedge fund ValueAct Capital, amid pressure from activist investors for better cost control and a management shakeup at the cloud-based software firm. The company appointed chief executive of hedge fund ValueAct Capital Mason Morfit, Mastercard (MA.N) finance chief Sachin Mehra and former chief executive of Carnival Corp (CCL.N) Arnold Donald to its board. Reuters reported on Thursday that Elliott Management Corp, the activist investment firm that recently made a multimillion-dollar investment in Salesforce, plans to nominate several director candidates. The company also said Sanford Robertson and Alan Hassenfeld, directors at Salesforce since 2003, will not stand for re-election. Reporting by Tiyashi Datta in Bengaluru; Editing by Sherry Jacob-Phillips and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Upside surprises — Credit Suisse predicts these stocks will have a big 2023
▼ + stars: | 2023-01-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Certain names will surprise to the upside in 2023, according to Credit Suisse, in what's expected to be another volatile year for the stock market. Credit Suisse predicts Carnival will see upside to estimates for earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2023 and 2024. Carnival has 47% upside to Credit Suisse's $16 price target, as of Wednesday's close. CCL mountain 2020-01-26 Carnival's performance since late January, 2020 Meanwhile, FedEx had a challenging 2022 but could rally nearly 27%, according to Credit Suisse's $238 price target. Nvidia shares have more than 8% upside to Credit Suisse's $210 price target.

☆ Here are Tuesday's biggest analyst calls: Apple, Exxon, Amazon, Boeing, Spotify, Microsoft & more
▼ + stars: | 2023-01-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley downgrades Boeing to equal weight from overweight Morgan Stanley downgraded the stock mainly on valuation. Morgan Stanley names Taiwan Semiconductor a catalyst driven idea Morgan Stanley said it's bullish heading into the semiconductor company's earnings later this week "Comments on 2023 full-year guidance and semi cycle recovery are keys to watch. Morgan Stanley resumes Virgin Galactic as equal weight Morgan Stanley resumed coverage of the space flight company and says it has first mover advantage. Morgan Stanley reiterates Spotify as overweight Morgan Stanley said Spotify has several levers to pull and that it's a self-help story. JPMorgan reiterates Apple as overweight JPMorgan said it appears that iPhone lead times are moderating for Apple.

☆ Cruise lines to appeal U.S court's big award to owner of Havana dock
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: +2 min

[1/2] Royal Caribbean logo is seen displayed in this illustration taken, May 3, 2022. U.S. District Judge Beth Bloom in Miami ruled last week to award a total of $440 million to the plaintiff, Delaware-registered Havana Docks Corp; registered to two U.S. citizens who claim to be descendants of the original owners of the Havana Cruise Port Terminal. It comes after Bloom ruled in March that the use of the port constituted trafficking in confiscated property owned by Havana Docks Corp. Royal Caribbean in a comment to Reuters said it "disagree(d) with the ruling and will appeal. Havana Docks sued the cruise lines under the Helms-Burton Act, which allows U.S. nationals to sue over use of property seized in Cuba after 1959.

☆ U.S. judge orders Norwegian Cruise Line to pay $110 mln for use of Cuba port
▼ + stars: | 2022-12-30 | by ( Brian Ellsworth | ) www.reuters.com time to read: +1 min

MIAMI, Dec 30 (Reuters) - Norwegian Cruise Line (NCLH.N) must pay $110 million in damages for use of a port that Cuba's government confiscated in 1960, according to a ruling by a U.S. judge released on Friday. The decision by U.S. District Judge Beth Bloom in Miami follows her March ruling that the use of the Havana Cruise Port Terminal constituted trafficking in confiscated property owned by the plaintiff, Delaware-registered Havana Docks Corp."Judgment is entered in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd," reads the decision. "Plaintiff is awarded $109,848,747.87 in damages," it says, adding that Norwegian should also pay an additional $3 million in legal fees and costs. Norwegian Cruise Line did not immediately respond to a request for comment. Havana Docks had also sued cruise lines Carnival (CCL.N), Royal Caribbean (RCL.N) and MSC under the Helms-Burton Act, which allows U.S. nationals to sue over use of property seized in Cuba during the Cold War era.

FedEx Corp (FDX.N), which sparked a market selloff in September after pulling financial forecasts, provided financial guidance and announced plans for $1 billion cost cuts. Also, U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong while 12-month inflation expectations fell to 6.7%, the lowest since September 2021. It's been helped by upbeat corporate commentary and an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St. Louis referring to Nike and FedEx. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2022. On U.S. exchanges 9.81 billion shares changed hands, compared with the 11.16 billion average for the last 20 sessions.

FedEx Corp (FDX.N), which sparked a market selloff in September after pulling financial forecasts, provided financial guidance and announced plans for $1 billion cost cuts. U.S. consumer confidence rose to an eight-month high in December as inflation retreated and the labor market remained strong while 12-month inflation expectations fell to 6.7%, the lowest since September 2021. It's been helped by upbeat corporate commentary and an improvement in consumer confidence," said Angelo Kourkafas, investment strategist at Edward Jones in St Louis referring to Nike and FedEx. The smallest gainer among the sectors was consumer staples (.SPLRCS) but it was still up 1%. The S&P 500 posted 5 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 49 new highs and 211 new lows.

☆ Carnival Corp posts smaller loss as it tightens control on costs
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Carnival Corp (CCL.N), (CCL.L) on Wednesday posted a smaller-than-expected quarterly loss as the cruise operator kept a tight lid on operating costs, sending its shares up about 7% in morning trade. Cruise operators including Carnival have been wrestling with rising fuel prices, a stronger U.S. dollar and higher interest rates, which have been further exacerbated due to the ongoing Russia-Ukraine conflict. The cruise operator's revenue rose to $3.84 billion in the fourth quarter ending Nov. 30 from $1.29 billion a year earlier, but missed analysts' average estimate of $3.91 billion, according to IBES data from Refinitiv. The company posted a smaller adjusted net loss of 85 cents per share compared with analysts' expectation of 87 cents. Reporting by Granth Vanaik in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

☆ Dow surges thanks to strong earnings and confident consumers
▼ + stars: | 2022-12-21 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks surged Wednesday as investors cheered healthy results from two of America’s leading companies and a surprisingly strong reading on consumer sentiment. The Dow was up more than 500 points, or 1.6%, after FedEx (FDX) and Dow component Nike (NKE) each reported earnings that topped analysts’ forecasts. Still, the market could at least finish 2022 on a positive note following strong gains for stocks in both October and November. The jump in sentiment on Main Street came even as more signs point to a continued slowdown in the housing market. But BlackBerry (BB), the former mobile device leader that has since morphed into a cybersecurty company, tumbled 7% to a new 52-week low following a weak outlook.

☆ Housing slump to continue but some hopeful signs ahead
▼ + stars: | 2022-12-18 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +6 min

While that’s already had a negative impact on the housing market, we’ll get more details this week about how much worse the damage has become. A long list of housing data is on tap. On Tuesday the US Census Bureau will report housing starts and building permits figures for November, followed by Friday’s release of new home sales data for the same month. Housing market was frothy, but not a bubbleOthers in the industry are cautiously optimistic as well. That all amounts to a few good reasons why the housing market could avoid a severe and prolonged slump.

☆ Markets close out the week lower, as investors brace themselves for more rate hikes next year
▼ + stars: | 2022-12-16 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

But what irked markets was Fed Chair Jerome Powell's indication the Fed could continue to raise rates for longer to bring inflation under control. The S & P 500 lost around 2.25% for the week, closing out Friday down more than 1%. Under the hood, the consumer discretionary sector led to the downside this week, followed by financials and technology. Initial jobless claims for the week ending Dec. 10 came in at 211,000, a decrease of 20,000 from the prior week and below expectations of 232,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Jim Cramer’s week ahead: Earnings and economic data should give clues on Fed policy
▼ + stars: | 2022-12-16 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

All estimates for earnings, revenue and economic data are courtesy of FactSet. ETProjected EPS: $2.82Projected sales: $23.70 billion Last time FedEx reported, it detailed significant cost-cutting plans that should help boost profitability. Nike Q2 2023 earnings at 4:15 p.m. Thursday: Earnings from Paychex and CarmaxPaychex Q2 2023 earnings before the open; conference call at 9:30 a.m. ETProjected EPS: 95 centsProjected sales: $1.19 billion Cramer said he thinks Paychex is an even better small- and medium-size business barometer than Cintas.

☆ Jim Cramer's top 10 things to watch in the market Thursday: Fed selling, chip stocks boost, Disney concern
▼ + stars: | 2022-12-15 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Barclay's raises price target on Club holding Wynn Resorts (WYNN) to $95 per share from $75; keeps an equal weight (hold) rating. Citi raises price target on Club holding Linde (LIN) to $402 per share from $322; keeps buy rating. HSBC starts Club stock Nvidia (NVDA) with a reduce rating and a $136-per-share price target; says downside not priced in. Cowen downgrades JetBlue (JBLU) to market perform from outperform (hold from buy); trims price target to $10 per share from $9. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Nobel awards to take place in Stockholm with full glitz and glamour
▼ + stars: | 2022-12-10 | by ( ) www.reuters.com time to read: +3 min

NTB/Haakon Mosvold Larsen via REUTERSSTOCKHOLM, Dec 10 (Reuters) - Nobel laureates congregated in the Swedish capital Stockholm on Saturday for the first fully in-person award ceremonies complete with a formal banquet since the COVID-19 pandemic that curtailed events in the past two years. Five of the six Nobel prizes are awarded in Stockholm every year after a nomination process that is kept secret for the next 50 years. The Nobel Peace Prize is awarded in Oslo where separate festivities are held. The Nobel Foundation has also snubbed the ambassadors of Russia and Belarus, following Russia's invasion of Ukraine. Jailed Belarusian activist Ales Byalyatski, Russian rights group Memorial and Ukraine's Center for Civil Liberties won the 2022 Nobel Peace Prize.

☆ S&P, Nasdaq extend losing streaks amid rising recession worries
▼ + stars: | 2022-12-07 | by ( David French | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., November 29, 2022. For the benchmark S&P 500 (.SPX), it was the fifth straight session that it has declined, while the Nasdaq (.IXIC) finished down for the fourth time in a row. The S&P 500 (.SPX) lost 7.34 points, or 0.19%, to close at 3,933.92 and the Nasdaq Composite (.IXIC) dropped 56.34 points, or 0.51%, to finish at 10,958.55. The S&P 500 is on track to snap a three-year winning streak. The S&P 500 posted seven new 52-week highs and seven new lows; the Nasdaq Composite recorded 61 new highs and 307 new lows.

☆ Here are Tuesday's biggest analyst calls: Tesla, Apple, JPMorgan Chase, GE, Starbucks, Costco & more
▼ + stars: | 2022-12-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Tuesday's biggest calls on Wall Street: UBS reiterates Apple as buy UBS said Apple's iPhone supply chain headwinds are abating. Cowen reiterates TJX Company as outperform Cowen said it's feeling more bullish on the stock after a series of recent management meetings. Piper Sandler reiterates Tesla as outperform Piper said reports of Tesla cutting production in China are mostly overdone. Bank of America reiterates Chipotle as buy Bank of America said the Mexican chain restaurant has "price elasticity." Oppenheimer upgrades General Electric to outperform from market perform Oppenheimer said it's starting to see strong execution from GE .

☆ JPMorgan double downgrades Royal Caribbean Group, says it's 'more vulnerable' to macro pressures
▼ + stars: | 2022-12-06 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Sell shares of Royal Caribbean Group as they could fall 20% from here, JPMorgan said Tuesday. Analyst Daniel Adam double downgraded shares to underweight from overweight, and slashed his price target, saying that Royal Caribbean is "more vulnerable" to macro pressures than its peers because of its future capital commitments. To be sure, Royal Caribbean has some advantages, including an 18% share of the cruise market that is expected to have a better setup heading into 2023. Shares of Royal Caribbean are down roughly 22% this year. The analyst's December 2023 price target of $47, cut from the December 2022 price target of $106, suggests roughly 20% downside from Monday's closing price.

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