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☆ Bluesky is growing so fast it's racing to get hold of more servers, its chief operating officer says
▼ + stars: | 2024-11-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

AdvertisementBluesky's user base surged to 21 million, prompting the company to race to get more servers. Its growth follows users leaving X, with over 280,000 closing their accounts on Election Day. Bluesky has "blown past" its user growth projections so much that it's racing to get more servers to keep the site running smoothly, the social media platform's chief operating officer has said. AdvertisementThe social media network has surpassed 21 million users, up from 13 million in October, as X users have left in droves and flocked to the platform. The US election appears to have triggered a migration of X users to Bluesky, which has been praised because of its similarity to the "old Twitter."

Persons: Rose Wang, Bluesky, Wang, Gordon MacMillan, X's, Elon Musk, Donald Trump, Jack Dorsey, Jay Gruber, Dorsey, Musk, Elon Organizations: Twitter, Wired

It took Rep. John Curtis, R-Utah, just a few weeks to make his mark on the Senate — even before he'd actually take the oath of office to replace retiring Sen. Mitt Romney next year. But I’m not going to give him an unconditional yes to anything that he wants.”“He is not Mitt Romney and he is not Donald Trump. Former Utah Republican Gov. After deciding to run for Senate after Romney’s retirement announcement, Trump weighed in and endorsed Riverton Mayor Trent Staggs. But his colleagues and Trump allies felt that they understood his perspective, with Curtis’ likely disapproval of Gaetz leading to his quick withdrawal.

Persons: John Curtis, he'd, Sen, Mitt Romney, Donald Trump, Curtis, Matt Gaetz’s, Trump, I’m, He’s, ”, Carlos Curbelo, Romney, ” Curbelo, Jason Chaffetz, Hillary Clinton, Gary Herbert, Herbert, ” Herbert, he’s, Curbelo, Curtis ’, “, John, ‘, ’ ” Curbelo, it’s, didn’t, censuring Trump, It’s, Riverton Mayor Trent Staggs, he’d, you’re, That’s, Gaetz, Curtis didn’t, general’s, ” “ He’s, what’s Organizations: Rep, Justice Department, Republican Party that’s, Trump, GOP, NBC, Republican, “, Brigham Young University, Democratic Party, Congress, Former Utah Republican Gov, NBC News, Commission, Senate, Republicans, GOP House, Capitol, Riverton Mayor, Republican Senate, Ford Locations: Utah, Florida, Salt Lake City, Taiwan, Provo, Washington, Texas, “

☆ The High Risk, High Reward Trump Market
▼ + stars: | 2024-11-22 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

Markets abhor uncertainty. That bit of Wall Street wisdom helps explain their ebb and flow since Donald J. Trump’s victory on Election Day, and even earlier. Stocks and bond yields began rising early in October, when Wall Street concluded that Mr. Trump would win. Yet for the markets, uncertainty hasn’t vanished. He promises lower corporate taxes and less regulation: Those assurances are being widely interpreted as a recipe for fat company profits and a prosperous stock market.

Persons: Donald J, Trump, It’s Organizations: Wall, Mr, Trump Locations: Washington

☆ A 26-year-old solopreneur with a 6-figure business shares 4 tips for successfully transitioning from a normal job to a full-time content creator
▼ + stars: | 2024-11-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +6 min

AdvertisementNatalie Fischer quit her corporate job to become a solopreneur creating financial content. In 2023, Fischer took a leap of faith and quit her corporate job to focus full time on finance content creation as a solopreneur, or a one-person business. Advertisement"That gave me a lot of comfort knowing that if worse comes to worse, I can always get another job," Fischer said. You can do bothBeing a solopreneur and working a corporate role aren't diametrically opposed. Fischer has seen fellow solopreneurs balance a content creation business, a corporate role, and even write a book at the same time.

Persons: Natalie Fischer, Fischer, influencer, Fischer couldn't, She's, Fischer's, Goldman Sachs, didn't, I'd, Christine Ji Organizations: Business

☆ Jaguar boss speaks out after backlash to the car brand's latest ad campaign — which didn't include any cars
▼ + stars: | 2024-11-22 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

AdvertisementJaguar defended its rebranding campaign after online critics roasted a promotional video. The campaign, featuring models and no cars, was criticized as "woke." Jaguar's managing director is defending the British luxury-car maker's rebranding campaign — calling out some of its online critics and characterizing their reaction as "vile hatred" and "intolerance." (Most 2024 Jaguar models have list prices of about $50,000 to $80,000.) In response to the video posted on X by Jaguar, Musk wrote : "Do you sell cars?"

Persons: Jaguar's, Rawdon Glover, Brad Audet, —, Glover, India's Tata, Elon Musk, Andrew, Tristan Tate, Ian Miles Cheong, Musk, Nick Freitas, Bud Light, Bud, it's Organizations: Financial Times, Mazda, North America, Jaguar, Rover, Land Rover, India's, India's Tata Motors, Tesla, Republican, Delegates Locations: Virginia

☆ Buy these cheap stocks with high cash levels as new Trump tariffs loom, UBS says
▼ + stars: | 2024-11-22 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

President-elect Donald Trump's tariff plans could weigh on the broader stock market, but some attractively valued names with strong cash levels could withstand the pressure, according to UBS. "The rally overlooks the potentially negative knock-on implications of tax cuts and tariffs on corporate performance and valuations." Against that backdrop, UBS looked for stocks that have high levels of cash and are attractively valued. The stock has a dividend yield of 2.7%. It has a dividend yield of 2.2%.

Persons: Donald Trump's, Trump, Michel Lerner, Lerner, Smoot, Paychex, Jason Kupferberg Organizations: UBS, Bank of America, CVS, Federal Trade Commission, Glenview Capital Locations: China, U.S, Hawley

☆ The salary Americans say they need to feel successful at every age—it's over $500,000 for Gen Z
▼ + stars: | 2024-11-22 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

But with living costs pinching even high earners and the fact that more money almost always brings individuals more happiness , it's understandable that Americans say you need a substantial salary to be considered successful. While the average salary Americans say they need to be successful is high compared with what the average person is currently earning, Gen Z sets their sights even higher. The average salary adults between the ages of 18 and 27 say they need to be successful is $587,797, Empower found. That could be part of the reason they say they'd need such a high salary to feel accomplished, says Rebecca Rickert, head of communications at Empower. On average, Americans say you need a net worth of about $5.4 million to be considered successful, Empower reported.

Persons: Gen Z, Rebecca Rickert, boomers, Rickert Organizations: . Census, CNBC Locations: U.S

☆ Opinion | We Wanted a New Republican Party. Trump Delivered.
▼ + stars: | 2024-11-22 | by ( Ross Douthat | ) www.nytimes.com time to read: +55 min

Barack Obama was elected president, and the mood in the Republican Party picked up on the mood you’ve already described. But in the end, what he did electorally was not in that election to build the pan ethnic working class Republican Party. But at the very least, there was the conventional wisdom was that the Republican Party had to move substantially to the left on immigration. I just think that if the Republican Party is not the party of private property and wealth building, so I don’t think. Is there any chance that the Republican Party is about to not be the party of private property and wealth building No, no, I think you’re right.

Persons: I’m Ross Douthat, Donald Trump didn’t, Trump, I’ve, Reihan Salam, Reihan, George W, I’m, pry, Ross, Ross Douthat, let’s, Bill Kristol, Bush, Boomer, Giuliani, Ronald Reagan, wasn’t, Bill O’Reilly, Ross Reihan, Bush’s, Barack Obama, Obama, That’s, Mitt Romney, Paul Ryan, Ryan, Rush Limbaugh, notionally, Jeb Bush, Marco Rubio, Bill Clinton, Donald J, Let’s, it’s, It’s, ”, Donald Trump, Rudy Giuliani, Will, electorally, Romney, we’d, didn’t, Pat, John McCain, Frank, Kavanaugh, Trump’s, George Floyd, Biden, hadn’t, progressivism, premised, ender, New Party ”, ryan, neoliberals, Steve Bannon, Steve Moore, we’re, Moore, Bannon didn’t, COVID, JD Vance, Elon Musk, Musk, he’s, Vance, hasn’t, Clinton, Hillary Clinton, Margaret Thatcher’s, Reagan, Roosevelt, Republican policymaking, we’ve Organizations: New York, Republican Party, Manhattan Institute for Policy Research, New Party, New York Times, Harvard Institute of Politics, Harvard, The, Democratic, Great Society, Republicans, Republican, Reagan Democrats, Tribune, Trump, Perot, Tea Party, Party, Social Security, Grand New Party ”, Romney, Obama Trump voters, GOP, Amnesty, Reagan, Biden, American, America, romney, Infrastructure, Clinton Democrat, Uc Locations: Washington , DC, Northwestern, Washington ,, New York, Washington, Iraq, America, “, China, American, United States, Clinton, it’s, Nevada

☆ The 'Roaring 20s' rally will continue in 2025. UBS shares 8 ways to maximize gains.
▼ + stars: | 2024-11-22 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

While Wall Street is confident that there will be a continued boom under Trump, UBS GWM is less sure. "AI infrastructure spending remains robust, and we expect key semiconductor components needed for AI to remain supply constrained in 2025, supporting pricing," UBS GWM strategists wrote. "We believe investment-grade bonds offer attractive yields and expect mid-single-digit returns in US dollar terms," UBS GWM strategists wrote. "In 2025, we believe gold will remain an effective hedge against key political concerns, including government debt levels, inflation, or geopolitical tensions," UBS GWM strategists wrote. Residential and commercial properties both make sense, though UBS GWM specifically cited property types like logistics, data centers, and multifamily housing.

Persons: Donald Trump, Mark Haefele, UBS GWM, Haefele Organizations: UBS Global Wealth Management, UBS GWM, Trump, UBS, Technology, Utilities Locations: Japan

☆ One of Trump’s Treasury contenders hails from the most cutthroat private equity firm on Wall Street
▼ + stars: | 2024-11-22 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

The words “private equity” are almost poetic in their power to obfuscate in such a way that most people simply tune out when they hear them. But there’s a reason workers tend to have a negative association with private equity. Per Bloomberg, Apollo “built its name as the scrappiest private equity and distressed-debt investor on Wall Street by buying businesses and loading them up with debt that offered creditors meager protections in the face of default.”Historically, private equity deals were largely handled by big banks. Private equity firms now hold controlling stakes across an array of industries, including supermarkets, housing, health care, fashion, restaurants and vet clinics. And other efforts to force more transparency and accountability in private equity have similarly faced opposition.

Persons: CNN Business ’, Marc Rowan, Donald Trump’s, Rowan, Bill Lazonick, he’s, ”, Megan Greenwell, aren’t, ” Dennis Kelleher, Apollo “, it’s, Sen, Elizabeth Warren of, hadn’t, Scott Bessent, Kevin Warsh, “, ” Greenwell Organizations: CNN Business, New York CNN, Apollo Global Management, Treasury, OCC, Republicans, Industry Research Network, — Bloomberg, KKR, Blackstone, Carlyle Group, Securities and Exchange Commission, “, Research, Treasury Department, Bloomberg, Financial Times, Federal Reserve Locations: New York, ”, Elizabeth Warren of Massachusetts

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow corporate America may be 'quiet quitting' DEIAs companies navigate a politically charged climate in 2024, some are scaling back their DEI initiatives. While many Fortune 1000 companies committed to DEI after George Floyd's death in 2020, major corporations like Google, Meta, and Ford are retreating amid conservative pressures and economic concerns. However, DEI advocates argue the pullback is overstated, with many executives still prioritizing diversity. Despite challenges, most companies recognize DEI's long-term value.

Persons: George Floyd's Organizations: DEI, Google Locations: America

☆ There's still plenty of 'meat on the bone' in municipal bonds, Vanguard portfolio manager says
▼ + stars: | 2024-11-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

So that's why I say there's plenty of meat left on the bone for investing in credit munis," McFee said. Sector outlook Municipal bond funds buy and hold fixed income instruments issued by state and local governments or related entities. Over the past month, major index funds iShares National Muni Bond ETF (MUB) and Vanguard Tax-Exempt Bond ETF (VTEB) have raked in about $2.2 billion of combined inflows, according to FactSet. The big iShares and Vanguard muni funds have each returned about 1.7%, year to date, compared with 1.6% for the iShares Core U.S. And Vanguard is not the only asset manager pushing new muni funds into the market.

Persons: weren't, Steve McFee, McFee, Goldman Sachs Organizations: Vanguard, Bond, McFee, AAA, Muni Bond ETF, Vanguard muni, iShares, Aggregate Bond

☆ Adani vs. Hindenburg: How one of India's biggest empires descended into chaos
▼ + stars: | 2024-11-21 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +4 min

Gautam Adani, the billionaire chairman of India's Adani Group, was indicted on Wednesday along with seven others in New York federal court for his involvement in a large-scale bribery and fraud scheme. March 2023 to May 2023In March, India's Supreme Court sets up an independent six-member panel to investigate the allegations made in the Hindenburg report. Then in May, the court-appointed panel said it has "drawn a blank" in its probe into Adani group, according to Reuters. December 2023 to January 2024By the end of 2023, Adani Enterprise shares had recovered from the fallout and concluded the year with smaller declines of 26%. Modi has been accused by opposition leader Rahul Gandhi for assisting the Adani Group in securing contracts in Sri Lanka, India and Australia.

Persons: Gautam Adani, Hindenburg, Adani, Madhabi Puri, Narendra Modi, Modi, Rahul Gandhi Organizations: Hindenburg Research, India's, Adani, Hindenburg, Adani Enterprises, Reuters, Adani Enterprise, Bloomberg, Indian, Forbes Locations: Krakow, Poland, New York, Asia, Madhabi Puri Buch, Sri Lanka, India, Australia

☆ Britain’s 'mini-budget' disaster should serve as a warning to the U.S., bond strategists say
▼ + stars: | 2024-11-21 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +5 min

Bloomberg | Bloomberg | Getty ImagesFears are mounting that the U.S. could soon experience its own version of Britain's "mini-budget" crisis, with bond strategists warning that Donald Trump's return to the White House brings with it the specter of currency volatility and surging bond yields. The former president's economic agenda has ratcheted up concerns about a surge in consumer prices, which strategists say could spark significant shifts in bond yields and investor behavior. They warn a scenario that mirrors Britain's mini-budget crisis of 2022 is not out of the question. watch nowBritain's mini-budget crisis refers to a tumultuous period under former Prime Minister Liz Truss and ex-Finance Minister Kwasi Kwarteng. Bond yields tend to rise when market participants expect higher consumer prices or a growing budget deficit.

Persons: Donald Trump, Donald Trump's, Trump, Remtulla, Liz Truss, Kwasi Kwarteng, Kwarteng, Althea Spinozzi, Trump's, Spinozzi, Angela Weiss, Paul Ashworth, Ashworth, Thierry Wizman, likelier, Wizman Organizations: Economic, of New, Bloomberg, Getty, EFG, CNBC, U.S ., Finance, U.S, Bank of England, Saxo Bank, White, Treasury, Traders, New York Stock Exchange, AFP, Capital Economics, Macquarie Group Locations: of New York, New York, U.S, Foreign, Treasurys, Treasuries, New York City, America

☆ Ray Dalio says to understand Trump's 2nd administration, you should study how far-right governments in the 1930s worked
▼ + stars: | 2024-11-21 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

AdvertisementRay Dalio said Trump's approach to governance was tried by hard-right states in the 1930s. Dalio, who often publishes personal remarks on the global economy, wrote a LinkedIn commentary on Wednesday with his predictions for a second Trump administration. Advertisement"Think of Gordon Gekko and the perspective he conveyed in his 'greed is good' speech," Dalio wrote of Trump's approach, referring to Michael Douglas' character from "Wall Street," the 1987 film. Dalio wrote that he isn't saying Trump's administration would be fascist or that Trump would behave like fascist leaders. Brandon Bell/Getty ImagesTheir mission, Dalio wrote, is to "create maximum economic strength and fight foreign enemies."

Persons: Ray Dalio, Trump, Donald Trump, Trump's, Elon Musk, Vivek Ramaswamy, Gordon Gekko, Dalio, Michael Douglas, Ramaswamy, Marco Rubio, Tucker Carlson, Steve Bannon, Brandon Bell, Pete Hegseth, Elise Stefanik Organizations: Bridgewater Associates, of Government, Trump, SpaceX, Fox News, Defense Secretary, New York, United Nations, US Senate, Republican, Business Locations: United States, Washington, China

☆ Here's what 5 CEOs learned by becoming undercover bosses
▼ + stars: | 2024-11-21 | by ( Maria Noyen | ) www.businessinsider.com time to read: +1 min

Dara Khosrowshahi, CEO of Uber, drove and delivered for Uber Eats in 2022Dara Khosrowshahi is the CEO of Uber. TASOS KATOPODIS/Getty ImagesUber CEO Dara Khosrowshahi spent time picking up shifts as an Uber Eats delivery driver on an e-bike and an Uber driver for a spell in 2022. While making deliveries on an e-bike, he encountered "tip-baiting," where customers offer a big tip but reduce it on delivery. "We didn't take pride in the driver product because very few of us drove," he said. It is a point of pride for employees now — when they drive they get a little badge on their corporate profile."

Persons: Dara Khosrowshahi, Uber, TASOS KATOPODIS, Dave K, Khosrowshahi Organizations: Tesla, Wall Street Journal Locations: San Francisco

☆ RFK Jr. once praised scathing description of Trump and his base as “idiots,” “Nazis” and “bootlickers”
▼ + stars: | 2024-11-21 | by ( Andrew Kaczynski | ) edition.cnn.com time to read: +8 min

Asked in August whether he would ever serve in Trump’s cabinet, Kennedy said, “No.” but weeks later, he ended his campaign and endorsed Trump. Kennedy has since refrained from any public criticism of Trump, aligning himself with the former president on issues like government censorship and public health. Trump, left, greets Robert F. Kennedy Jr., at a campaign rally in Glendale, Arizona, on August 23. “And you can see that every statement that Donald Trump makes is fear-based,” Kennedy said on his radio show in December 2016. “And, you know, he’s not like Hitler,” Kennedy said.

Persons: Robert F, Kennedy Jr, Donald Trump’s, ”, ” Kennedy, “, Trump, Adolf Hitler, Benito Mussolini, Kennedy, Hitler, “ Hitler, President Trump, demagogues, Adriana Zehbrauskas, Trump’s, Francisco Franco, Mussolini, Huey Long, Father Coughlin, Donald Trump, Obama, barker, George Wallace, …, ’, ‘, Matt Taibbi’s, ’ ” Kennedy, Taibbi, he’s, He’ll, Michael Mann, “ Michael Mann, Erik McGregor, “ Trump, Andrew Wheeler Organizations: CNN, Health, Human Services, Trump, HHS, Centers for Disease Control, Prevention, Drug Administration, National Institutes of Health, Democratic Party, New York Times, Civil Rights Movement, Alabama Gov, ”, Pipeline, EPA Locations: Glendale , Arizona, White, America, Paris, Albany , New York

☆ Adani Group shares nosedive after chairman Gautam Adani charged with fraud in New York
▼ + stars: | 2024-11-21 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Signage of Adani Group at Adani Defence and Aerospace booth during the Aero India 2023 at Air Force Station Yelahanka in Bengaluru, India, on Monday, Feb. 13, 2023. India's Adani Group saw shares of its companies plunge Thursday after its billionaire chairman Gautam Adani was indicted in a New York federal court over his alleged involvement in an extensive bribery and fraud operation. The Indian group's flagship firm Adani Enterprises fell 10%, while the company in the eye of the storm Adani Green Energy tanked 17.28%. Adani Energy fell 20%. Adani Power lost 13.81%, Adani Port's share price dropped 10%, while the group's retail arm Adani Wilmar shed 7.87%.

Persons: India's, Gautam Adani, Adani, Sagar Adani, Ranjit Gupta, Rupesh Agarwal, Saurabh Agarwal, Cyril Cabanes, Deepak Malhotra, CDPQ, shortseller, Hindenburg, Raymond James ', Matt Orton Organizations: Adani Defence, Aerospace, Aero, Air Force, India's Adani, Adani Enterprises, Energy, Adani Energy, Adani Power, NSE, Adani Green Energy, Power, Quebec, U.S, Hindenburg Research, CNBC Locations: Bengaluru, India, New York, U.S, Brooklyn

☆ Microsoft's Copilot has an oversharing problem. The company is trying to help customers fix it.
▼ + stars: | 2024-11-21 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Copilot's indexing of internal data led to oversharing of sensitive company information. Some corporate customers delayed Copilot deployment due to security and oversharing concerns. On Tuesday, Microsoft released new tools and a guide to help customers mitigate a Copilot security issue that inadvertently let employees access sensitive information, such as CEO emails and HR documents. These updates are designed "to identify and mitigate oversharing and ongoing governance concerns," the company explained in a new blueprint for Microsoft's 365 productivity software suite. AdvertisementAs a result, some customers have deployed Copilot, only to discover that it can enable employees to read an executive's inbox or access sensitive HR documents.

Persons: Copilot, overshares, Microsoft's Copilot, Joe Blow, Joe Organizations: Microsoft, Business

☆ TGI Friday's Bankruptcy: Changing Tastes, Wall Street Crushed Chain
▼ + stars: | 2024-11-21 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The hundreds of TGI Fridays franchises across 41 countries are independently owned entities and, therefore, not part of the bankruptcy process. AdvertisementIf you're a TGI Fridays lover, that means you can still go to the one nearby if you want. Like companies in a similar situation, the story of TGI Fridays is one of slow decline before an accelerated crash. In addition to grappling with changing tastes, TGI Fridays has also been subject to another trend in the restaurant business: private equity financial maneuvering. It can always be Friday anywhere, not just TGI Fridays, and maybe at a better price point or nicer experience.

Persons: Ray Blanchette, Brandon Coleman III, Coleman, Weldon Spangler, It's, Jonathan Maze, Tom Cruise, Ruby, Chili's, You've, they'll, who'd, Burt, hasn't, There's, John Bringardner, Bringardner, that's, Ragini, Alicia Kelso, Kelso, TriArtisan, Hostmore, I'm, Emily Stewart Organizations: Street, Restaurant Business, Buffalo Wild Wings, NFL, Strategic Resource, — TriArtisan Capital Advisors, Sentinel Capital Partners —, Sentinel, Citibank, SEC, FTI Consulting, Creditsafe, Hooters, Business Locations: Beppo, New York, Olive, Nation's

☆ Piper Sandler highlights the stocks most likely to benefit from bullish market sentiment
▼ + stars: | 2024-11-21 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Wall Street's optimistic tone since Donald Trump secured a return to the White House could have outsized benefits for a handful of stocks that typically gain when sentiment is bullish, according to Piper Sandler. "By many metrics, bullish sentiment is at an extreme," Michael Kantrowitz, Piper Sandler's chief investment strategist and head of portfolio strategy, wrote in a Tuesday note. Against this backdrop, Piper Sandler screened for stocks that are most sensitive to bullish sentiment. Garmin is another stock that historically performs well when market sentiment is high, registering gains 62% of the time. GRMN YTD mountain Garmin stock has gained nearly 60% in 2024.

Persons: Donald Trump, Piper Sandler, Stocks, Michael Kantrowitz, Piper, Uber, Trump, FactSet Organizations: Investors, Uber Technologies, Garmin, Materials, Micron Technology

☆ Stocks making the biggest moves after hours: Intuit, SL Green, Gap and more
▼ + stars: | 2024-11-21 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Intuit — Shares of the financial software company fell almost 5% despite an earnings report that beat expectations. Intuit reported $2.50 in adjusted earnings per share on $3.28 billion of revenue for its fiscal first quarter. SL Green Realty — The commercial real estate stock dipped more than 1% after SL Green announced a $400 million stock sale . Ross reported $5.07 billion in revenue, below the $5.15 billion expected by Wall Street. Analysts surveyed by LSEG were looking for earnings of 38 cents per share and revenue of $357 million.

Persons: LSEG, Ross, NetApp Organizations: Intuit —, Intuit, Green Realty, SL Green, Old Navy, Ross, Wall

☆ Citadel's Ken Griffin says Trump's tariffs could lead to crony capitalism
▼ + stars: | 2024-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Ken Griffin, chief executive officer and founder of Citadel Advisors LLC, speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 21, 2024. Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony capitalism could be a consequence. "I am gravely concerned that the rise of tariffs puts us on a slippery slope towards crony capitalism," the billionaire investor said Thursday at the Economic Club of New York. Crony capitalism is an economic system marked by close, mutually advantageous relationships between business leaders and government officials. At the same event, Griffin also said that he's not focused on taking Citadel Securities public in the foreseeable future.

Persons: Ken Griffin, Donald Trump, Griffin, Trump, he's, We're Organizations: Citadel Advisors, Economic, of New, Citadel, Citadel Securities Locations: of New York, New York, America, Washington

☆ Target's recent trade imports data tells the real story behind massive earnings miss
▼ + stars: | 2024-11-21 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +7 min

But cargo container trade data reviewed by CNBC tells a more nuanced tale. "We took some action to move product ahead of the port strike which came with more cost," Fiddelke said. Target's peak season imports for 2024 compared to 2023 were flat to down, according to cargo container volumes data pulled and analyzed by ImportGenius. According to customs data aggregated by Panjiva, Walmart imported 25,000 shipments from May 31-August 31, valued at $1.3 billion. "With any frontloading for the port strike, inventory would be up even higher than that."

Persons: Brandon Bell, Brian Cornell, Michael Fiddelke, Fiddelke, William George, Lynn Hughes, we're, Jerry Storch, Storch, Joe Feldman, Feldman, Bill Simon, Simon, Melissa Repko Organizations: Getty, CNBC, Target, ILA, ImportGenius, Storch Advisors, Panjiva, Walmart, Telsey Locations: Austin , Texas, U.S, New England, Texas, West Coast, Savannah , Georgia, Long Beach , California, of Virginia, West, East Coast, Gulf

In this article MAR Follow your favorite stocks CREATE FREE ACCOUNTMarriott International's business operations and growth are solid, CEO Anthony Capuano told CNBC Monday, amid layoffs of more than 800 corporate employees and continued sluggishness in China's tourism market. Marriott International reported net room growth of 6% year-on-year and room rate growth of 2.5%, driven by a strong return of group travel, which Capuano called the "bright, shining star" for the business today. The company raised its year-end guidance for net room growth, and added 9 million new Bonvoy members in the third quarter. That measure turned out to be corporate layoffs, first reported by the travel media company Skift on Nov. 14, which later linked to a notice of "mass layoffs" of 833 Marriott employees posted on a Maryland government labor website. watch nowCapuano denied that the company — which doubled in size during the past decade — grew too big, too fast, at least in terms of corporate employees, instead calling the move a much-needed "reorganization" of its global corporate structure.

Persons: Anthony Capuano, Capuano, Leeny Oberg, —, Rather Organizations: Marriott, CNBC, Marriott International, Uber, Starbucks Locations: RevPar, China, Greater China, Maryland, Bethesda , Maryland

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