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☆ How can foreign investors cash in on India’s growth? Here are the ETFs and stocks to buy
▼ + stars: | 2024-03-07 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

India's economic prospects are shining bright, attracting global investors eager to capitalize on the country's immense growth potential. The International Monetary Fund expects India's real gross domestic product (GDP) to expand by 6.5% in 2024. However, tapping into these opportunities as a foreign investor is not as straightforward as buying shares listed on the Indian stock exchanges. This allows investors outside India to buy shares more easily. ADRs are a way for investors to own shares in a foreign company, with the shares themselves held by a U.S. bank.

Persons: Malcolm Dorson, Alex Watts, GDRs, Dorson Organizations: Monetary Fund, India Active, Franklin FTSE, Interactive, London Stock Exchange, Major, Nokia, Airtel Locations: India, Franklin FTSE India, U.S, Canada, Germany, France, Finnish, China, Europe

☆ India’s booming tech sector suffers a big blow as Byju’s and Paytm plunge into crisis
▼ + stars: | 2024-03-07 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +2 min

A subsequent audit "revealed persistent non-compliances and continued material supervisory concerns in the bank," the central bank said on Jan. 31. Yet to be profitable, Paytm is also reportedly being probed by the federal anti-fraud agency on possible violations of foreign exchange laws. On Feb. 26, One97 Communications, the parent company of Paytm, said in an exchange filing that founder and CEO Vijay Shekhar Sharma had resigned from the board of Paytm Payments Bank. During the pandemic, Paytm capitalized on the digital payments boom in India, reporting a 3.5 times growth in transactions. SoftBank and Ant Group are now reportedly cutting their stakes in the payments company, according to local media.

Persons: Anindito Mukerjee, There's, Karan Mohla, Paytm, Vijay Shekhar Sharma, SoftBank Organizations: Bloomberg, Getty, B Capital, Reserve Bank of India, One97 Communications, Paytm Payments, Alibaba, Ant, Ant Group Locations: Greater Noida, India

☆ Elon Musk might not get to keep his $55 billion Tesla package. But overall, CEOs shouldn't panic about their paydays.
▼ + stars: | 2024-03-07 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +4 min

A judge recently voided Elon Musk's $55 billion compensation package at Tesla. AdvertisementA Delaware judge recently ruled that Elon Musk should not get a $55 billion compensation package for his work at Tesla despite his contributions to the company. So now that Musk's compensation has to be renegotiated, will other executives kiss their massive bonuses, stock options, and paychecks, goodbye? The more Tesla was worth, the higher Musk's compensation would get. "I don't know whether individual CEOs are panicking or taking Elon Musk as a role model, thinking, 'Well, if he doesn't like Delaware, then I have to move out of Delaware,'" Lipton said.

Persons: —, Elon, Tesla, I'm, James, Kathaleen McCormick, Musk, Musk Ann Lipton, Lipton, Musk's, Kimbal, Elon Musk Organizations: Elon Musk's, Tesla, Service, University of California, Delaware Supreme, Tulane University, Business Locations: Delaware, Los Angeles

☆ Will Nikkei's record-breaking rally sustain even as Japan's economy sputters?
▼ + stars: | 2024-03-05 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +3 min

Fuji and Tokyo skyline Jackyenjoyphotography | Moment | Getty ImagesJapan's Nikkei stock index has been on a record-breaking spree on the back of robust earnings and investor-friendly measures. But the country's ailing economy has experts divided over this sustainability of this rally. Japan's corporate governance reforms have been a key driver for the country's stock markets, Momma said, while stressing that stock indexes do not necessarily represent the entire economy that includes SMEs and households. SMEs are a critical lever in the Japanese economy, accounting for 70% of national employment and 50% of the country's economic growth. "Spillover from the global boom of AI-related stocks certainly helped Nikkei," Momma said.

Persons: Kazuo Momma, Momma, Sayuri Shirai, pare, Shirai, Phillip Colmar MRB Organizations: Nikkei, Mizuho Research, CNBC, Bank of Japan, Nvidia, Technology, Stock, Keio University, Bank of America, Phillip Colmar MRB Partners Locations: Fuji, Tokyo, Germany, Japan, U.S, China

☆ Activist Elliott calls for a big buyback at Mitsui Fudosan — 3 ways the company may create value
▼ + stars: | 2024-03-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Business: Mitsui Fudosan is a Japan-based company engaged in the real estate business. Even as a commercial real estate company, Mitsui Fudosan does possess some brand power, which translates to premium pricing power. Mitsui Fudosan is grappling with a low valuation and return on equity in absolute terms and relative to peers. Right now, Mitsui Fudosan has 0.65 times price to adjusted book value (for real estate companies) and the lowest ROE among its peers. There are three things Mitsui Fudosan can do right away to create value for shareholders.

Persons: Elliott, Palliser, ROE, debatably, Dai, Takashi Ueda, Ken Squire Organizations: Mitsui Fudosan, Mitsui Home, Mitsui, Nikkei, Oriental Land Company, Tokyo, Mitsui Fudosan's, Tokyo Stock Exchange, Keisei Rail, Dai Nippon Printing, Dai Nippon, Services, 13D Locations: Japan, COOs, ValueAct, OLC, OLC .

☆ Tiny home sensation Boxabl welcomes investors in as its founders plan to cash out $10 million
▼ + stars: | 2024-02-28 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +5 min

As the company has sought a financial lifeline by inviting more investors in, its cofounders are cashing out. The Tiramanis together previously sold off about $10 million of their shares in a 2022 fundraising round and have awarded themselves annual salaries of close to a million dollars each. "Maybe they're afraid that if they don't sell shares now they will walk away with nothing." A spigot of cash running dryBoxabl is seeking to raise $64 million in the share offering, an additional $10 million for the Tirmanis, and $1 million for other insiders at the company. AdvertisementAmong the insiders in the company seeking to sell shares in the funding round are Darryl and Lucille Maslak, the parents of Shawna Maslak, Galiano's wife.

Persons: —, Paola Tiramani, Galiano, Chad Cohen, Erik Gordon, Cohen, Darryl, Lucille Maslak, Shawna, Gordon Organizations: Service, Business, Scala Advisors, University of Michigan's Ross School of Business, Securities and Exchange Commission, University of Michigan Locations: North Las Vegas , Nevada, Canada

☆ Why South Korea's Japan-style measures to boost its stock market may not work
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSouth Korea's Japan-style measures for improving corporate governance may not be enough to boost its undervalued stock markets and tackle the so-called "Korea discount." Asia's fourth-largest economy is striving to boost stock market valuations that are considered much lower compared to peers, with analysts referring to the phenomenon as the "Korea discount." The 'chaebol' problemSouth Korean markets are made up of corporations called "chaebols," which are large family-owned global conglomerates, typically controlled by the founder's family. "The behavior that leads to South Korea's low stock prices is motivated, and therefore seeking to coax South Korean controlling families into 'being nice' to minority stockholders is unlikely to be successful," Pines said.

Persons: SeongJoon Cho, James Lim, Jonathan Pines, Federated Hermes, Daniel Tan Organizations: Korea Exchange, Bloomberg, Getty Images Bloomberg, Getty, Financial, FSC, Samsung Electronics, LG, SK, Hyundai, Dalton Investments, Japan, Korean Stock Exchange, Federated, Grasshopper Asset Management, CNBC Locations: Seoul, South Korea, Japan, Korea, Tokyo, Asia, Singapore

☆ CNBC Daily Open: Americans sour on the economy
▼ + stars: | 2024-02-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Mixed bag on Wall StreetU.S. stocks ended mixed Tuesday as investors prepared for key inflation data due out later this week. South Korea's Japan-style measures to boost corporate governance may not work to lift its undervalued stock markets and tackle the so-called "Korea discount." Honor's foray into flip phonesChinese technology firm Honor will launch a foldable flip phone this year, the company's CEO George Zhao told CNBC.

Persons: Joe Biden, Dow, Bitcoin, Tesla, George Zhao, Andrew Organizations: CS Wind America Inc, CNBC, Wall Street, Nasdaq, Apple, Bloomberg, Will, Korea's, Financial Services Commission, Samsung Locations: Pueblo , Colorado, Korea's Japan, Korea

☆ South Korea unveils measures aimed at boosting stock markets, tackling 'Korea discount'
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A man leads a bull during a ceremony celebrating the New Year's opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. The announcement by the FSC highlighted steps that Korean authorities are taking to boost valuations of stock markets in Asia's fourth-largest economy. The country's stock markets are often considered undervalued by analysts, who refer to the phenomenon as the "Korea discount." The FSC said it will also introduce the "Korea Value-up Index" for institutional investors, including pension funds. "ETFs that track the Korea Value-up index will also be listed to facilitate retail investors' access to these companies," according to the statement.

Organizations: South, Korea Exchange, Financial, Commission, FSC, Nikkei Locations: South Korea, Korea, Seoul, Asia's, Tokyo

☆ Norfolk Southern CEO received 37% raise following derailment
▼ + stars: | 2024-02-26 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Norfolk Southern CEO Alan Shaw received a 37% increase in compensation last year, even after the company’s railroad was involved in a financially and ecologically disastrous derailment in East Palestine, Ohio. Shaw received $13.4 million in total compensation in 2023, up from $9.8 million in 2022. His base salary rose $200,000 to $1.1 million, and his stock and option awards rose $2.2 million to $10 million. Shares of Norfolk Southern (NSC) fell 22% in the two months following the accident, but the stock has since recovered most of its value, and its current share price is slightly above its pre-derailment level. The opposition investor group said the company’s new slate of board members won’t stop it from pushing its slate of eight candidates.

Persons: Alan Shaw, Shaw, Shaw’s, “, Jim Barber Jr, Richard H, Anderson, Mary Kathryn “ Heidi ” Heitkamp, “ Mr, ” Organizations: New, New York CNN, Norfolk, Norfolk Southern, of Locomotive Engineers, Ancora Holdings, CNN, UPS, Amtrak, Delta Air Lines Locations: New York, Norfolk Southern, East Palestine , Ohio, Ohio, East Palestine, Norfolk, ” Norfolk Southern, North Dakota

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

☆ Goldman Sachs reveals the 'Seven Samurai' — Japan's version of the 'Magnificent Seven' stocks
▼ + stars: | 2024-02-23 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Investors have been bullish on Japan stocks since last year, repeatedly driving them to record highs. Goldman Sachs has named "Seven Samurai" stocks in Japan, which it says could be an equivalent of the United States' "Magnificent Seven." The "Magnificent Seven" comprises Apple , Amazon , Alphabet , Meta , Microsoft , Nvidia and Tesla , which were behind much of the gains that drove the S & P 500 up a whopping 24% or so in 2023. In a Feb. 18 report, Goldman answered clients' requests for the Japanese equivalent of the "Magnificent Seven." With that criteria, Goldman has come up with a list of seven stocks, and they are: Screen Holdings, Advantest, Disco, Tokyo Electron, Toyota Motor, Subaru and Mitsubishi.

Persons: Goldman Sachs, Goldman, they've, CNBC's Ying Shan Lee Organizations: Nikkei, Apple, Microsoft, Nvidia, Tesla, Screen Holdings, Tokyo Electron, Toyota Motor, Subaru, Mitsubishi, Tokyo Stock Exchange Locations: Japan, United States, Tokyo

☆ Boxabl customers tired of waiting for their tiny homes ask for their deposits back as a cash crunch looms
▼ + stars: | 2024-02-22 | by ( Daniel Geiger | Alex Nicoll | ) www.businessinsider.com time to read: +12 min

While most of those customers say they have received their money, some said their refund requests were disputed or ignored. Two-thirds, or 23, of those people said they had asked to be refunded, or were going to ask Boxabl for their money back. Boxabl said it recently received approval to sell its homes in Arizona and is close to receiving similar clearances in California and Nevada. Amid its own dwindling cash supply, Boxabl has recently appeared less willing to grant refunds to some depositors who want out. When he sent an email in January to Boxabl asking for a refund, the company declined his request.

Persons: —, Boxabl, Dan Pena, Pena, Chris Armbruster, Gary Palmer, Palmer, He's, Galiano Tiramani, Zach Punnett, Punnett, Tiramani, What's, Paolo, Boxabl Galiano, Paolo Tiramani, Peers, Helene, Ali Faraji, Faraji, wouldn't Organizations: Service, North Las, Business, Securities and Exchange Commission, SEC, Oklahoma City, Archdiocese, Regulators, Tesla Plaid Locations: North Las Vegas, California, Los Angeles, Joshua Tree, Fort Worth , Texas, Riverside , California, Guantanamo Bay, Arizona, Nevada, Oklahoma, California , Virginia , Nevada , Arizona , Utah, Hawaii, Canada, Atlanta, Aptos, Santa Cruz

☆ Elon Musk may be done with Delaware, but don't expect other corporations to follow his crusade
▼ + stars: | 2024-02-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Elon Musk has had it with Delaware — but don't expect other corporations to flee the business-friendly state, too. Musk also specifically went after the judge who ruled to void his pay package, Kathleen McCormick, calling her an "activist and politician" in an X post. "The reason Elon Musk frequently escapes account from other judges is because they don't see through his phantabulating," Lauren Pringle, editor of the Chancery Daily, which covers Delaware courts, told the outlet. Advertisement"I don't expect a mass migration of firms from Delaware," Michal Barzuza, a professor at the University of Virginia who researches corporate law and governance, told the Post. So, despite Musk's latest crusade against the state, it seems unlikely many other Delaware-based corporations will jump ship anytime soon.

Persons: Elon Musk, Musk, Lawrence Cunningham, Kathleen McCormick, McCormick, Lauren Pringle, Michal Barzuza, John Coates, Fortune, there's, Coates, Musk's Organizations: SpaceX, Business, Fortune, Markel Group, Constellation Software, Washington Post, Chancery, University of Virginia, Harvard Locations: Delaware, Texas

☆ Carl Icahn gets two seats on JetBlue’s board. Here’s how he may help build value
▼ + stars: | 2024-02-17 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

Activist Commentary: Carl Icahn is the grandfather of shareholder activism and a true pioneer of the strategy. While Carl Icahn is not slowing down at all, in October 2020, he reached an agreement with his son Brett Icahn to rejoin the firm as the eventual successor. Carl Icahn is the quintessential, iconic corporate governance investor. On Jan. 19, Carl Icahn started acquiring his position. On Feb. 12, her first day in her new post, she had a Carl Icahn 13D on her desk.

Persons: Carl Icahn, Brett Icahn, Brett, hasn't, Carl, Sargon, Joanna Geraghty, Carl Icahn 13D, Icahn, Robin Hayes, Geraghty, Hayes, Ken Squire Organizations: Apple, Netflix, Forest Labs, JetBlue, Spirit, Investors, U.S, Transportation Department, 13D Locations: Icahn, Delta, United

☆ SpaceX files to relocate to Texas after Elon Musk's spat with Delaware over pay package
▼ + stars: | 2024-02-15 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

SpaceX has filed to relocate its business incorporation from Delaware to Texas. The move follows a Delaware judge's decision to void CEO Elon Musk a $55 billion Tesla pay package. AdvertisementSpaceX, which was incorporated in the famously corporation-friendly Delaware, filed to relocate its business incorporation with the Texas Secretary of State, Bloomberg reported. SpaceX CEO Elon Musk publicly railed against the Diamond State and a judge's decision to void his $55 billion Tesla pay package. "The public vote is unequivocally in favor of Texas," Musk wrote on February 1.

Persons: Elon Musk, —, Musk, B7FLByL2dY — Elon, Tesla, Charles Elson Organizations: SpaceX, Service, Texas, State, Bloomberg, Diamond State, Business, Weinberg, Corporate, University of Delaware, Wall Street Locations: Delaware, Texas, Neuralink, Nevada, it's, Brownsville, Austin, Silicon Valley

☆ Will Japan's bull run continue? Here's what the pros say — and how to invest
▼ + stars: | 2024-02-14 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The enthusiasm for Japan's stocks was reflected on Tuesday when its benchmark index Nikkei 225 climbed to a 34-year high. Will its bull run continue though, and how should investors play this Asian market? Here’s what Wall Street and other pros say, and how to invest — including the stocks to buy. Jeremy Schwartz, global chief investment officer at WisdomTree, told CNBC’s “Squawk Box Asia” on Friday that Japanese stocks are a “catalyst-rich” asset class. How – and what – to invest Global investors may find it more accessible to invest in Japan markets via exchange-traded funds.

Persons: Morgan Stanley, Jesper Koll, Monex, Jeremy Schwartz, CNBC’s, ”, buybacks, ” Schwartz, Eastspring, Oliver Lee, Morgan Stanley’s, Morningstar, Kao, industrials, CNBC's Ganesh Rao Organizations: Nikkei, Eastspring Investments, —, Tokyo Stock Exchange, Ivailo Locations: Japan, China, Tokyo

☆ How Elon Musk's war on Delaware could change the way corporations make some of their biggest decisions
▼ + stars: | 2024-02-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

It remains to be seen what Tesla will do about Elon Musk's pay just a few weeks after a Delaware judge voided his $56 billion compensation package, the largest CEO pay package in public corporate history. But Musk has already made some big decisions, including a declaration of a war on the state of Delaware. "Never incorporate your company in the state of Delaware" Musk posted on X shortly after the decision. "Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk's compensation plan. But even as those figures have risen, Musk's compensation would be an "outlier among outliers," said Matteo Tonello, managing director at The Conference Board.

Persons: Elon Musk, Tesla, Elon Musk's, Musk, Chancellor Kathaleen McCormick, McCormick, Charles Elson, Todd Maron, Elson, Matteo Tonello Organizations: Elon, Twitter, Fortune, Weinberg, Corporate, Tesla, Company, The Conference Board Locations: Krakow, Poland, Delaware, Texas, Nevada

☆ Tesla board silent as investors await next steps after Elon Musk's $56 billion pay package revoked
▼ + stars: | 2024-02-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +7 min

Antonio Masiello | Getty ImagesTwo weeks after a Delaware court ruled that Tesla must rescind Elon Musk's $56 billion pay package, the company's board remains mum on what the decision means for shareholders or what's next for the mercurial CEO. CNBC sent requests for additional information to Tesla investor relations, Musk and some board members. "Given the high stakes involved, it is likely that Tesla will appeal the decision," Kastiel said in an email. In the absence of a successful appeal, "any new compensation arrangement with him will have to be assessed" in light of McCormick's decision, Kastiel said. Kastiel also said that the decision likely makes Musk and Tesla more vulnerable to other types of lawsuits.

Persons: Elon Musk, Antonio Masiello, Tesla, Chancellor Kathaleen McCormick, Musk, Richard Tornetta, Kimbal, Robyn Denholm, JB Straubel, Greg Varallo, Bernstein Litowitz Berger, Grossmann, Varallo, Kobi, Kastiel wasn't, Kastiel, Eric Talley, Talley, wasn't, He's, Walter Isaacson, CNBC's, you'll, Isaacson, Ann Lipton, Lipton, — Organizations: Tesla Inc, Fratelli, Getty, Elon Musk's, SEC, CNBC, Tel Aviv University, Washington University Law, Nasdaq, Columbia Law School, SpaceX, Tesla, Tulane Law Locations: Italy, Rome, Delaware, Texas, Tesla, Nevada, California

☆ Portfolio manager on Korean stocks and corporate governance reforms
▼ + stars: | 2024-02-13 | 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 EmailWe like Korean stocks because they are so cheap, but more corporate governance reforms are neededJonathan Pines from Federated says corporate government is gradually improving in South Korea, but a lot more needs to be done. More importantly, the regulators need to step in.

Persons: Jonathan Pines Organizations: Federated Locations: South Korea

☆ Activist Ancora may turn to a reliable tactic to enhance value at Norfolk Southern
▼ + stars: | 2024-02-10 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

When you see that in a railroad company, there is one key metric to look at, which drives railroad profitability and shareholder return: It's the operating ratio. The operating ratio is the company's operating expenses as a percentage of revenue. NSC's operating ratio is almost 69% and the right management team with the right strategy should easily be able to get the operating ratio down close to 60%. There is no need to reinvent the wheel here; the roadmap has already been drawn at Canadian Pacific and CSX. Inside the activist world, and among investors who were shareholders of Canadian Pacific and CSX, this is as sure of an activist strategy as there is.

Persons: Ancora, James Chadwick, Mantle, Hunter Harrison, Harrison, John Kasich, Sameh Fahmy, Jim Chadwick, Ken Squire Organizations: Norfolk Southern, Railroads, TCI, CSX, Pershing, Canadian Pacific, Canadian National, CP, PSR, Kansas City Southern, 13D Locations: United States, Ancora, Ohio

☆ Japan's stock markets are on a tear. Will 'zombie’ firms threaten the bull run?
▼ + stars: | 2024-02-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +6 min

What are zombie companies? Japan's "zombie" problem has been around for a long time, said William Pesek, author of the book "Japanization: What the World Can Learn from Japan's Lost Decades." Raising the borrowing cost will put these zombie companies at risk of bankruptcy and bailouts, which could have a broader impact on the economy if there are job losses. "But the aid program has led to an increase in the number of 'zombie' companies that would otherwise have been unable to continue operating," the report added. Japan's stock markets have also been testing new highs since 2023, and higher interest rates could halt the bull run.

Persons: Adam Pretty, William Pesek, we've, Pesek, CNBC's Martin Soong, Warren Buffett's, Warren Buffett, Kazuo Ueda, Ueda Organizations: Getty, Bank of Japan, Tide, Asia Times, Japan Times, CNBC, Nikkei Locations: TOKYO, JAPAN, Roppongi Hills, Tokyo, Japan, Asia

☆ India is the new Asia growth story. Here’s why investors are bullish on the outlook
▼ + stars: | 2024-02-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +7 min

As China's property market and deflation woes continue to rattle investors, India's growth outlook appears all the more impressive. Last year's annual report attributed strong revenue growth partially to expansion in the Middle East, India, and Asia, Krishna wrote. "More than revenue, India is an important area for sourcing talent" as well, Krishna wrote. Growth potential For investors looking to gain exposure to the domestic stock market, Indian equities themselves aren't especially cheap though. "You're paying for the growth potential in India, certainly.

Persons: Morgan Stanley, Chetan Ahya, Ahya, Bernstein, —, Narendra Modi, Bill Fitzpatrick, Fitzpatrick, Quincy Krosby, Venu Krishna, Aecom, Krishna, Tim Long, Long, Simon Coles, Krosby, Jeffrey Gundlach, Gundlach, CNBC's, — CNBC's Michael Bloom Organizations: Investment, Logan Capital Management, Modi, Infrastructure Pipeline, Aecom, Barclays, Cisco Systems, Juniper Networks, India —, Semiconductor, Micron Technology, Qualcomm, Logan Capital Locations: India, China, Asia, Philadelphia, South Carolina . U.S, Dallas, East, Asia Pacific, Japan, Coles , U.S, U.S, IShares

☆ Tesla downgraded on concern Musk and board distractions could hurt innovation
▼ + stars: | 2024-02-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Tesla's corporate governance problems could undermine the automaker's competitive advantage by hindering its ability to invest long term and pursue breakout technologies, according to Daiwa Capital Markets. Analyst Jairam Nathan downgraded Tesla to neutral from outperform and slashed his price target for the automaker by about 20% to $195, which still implies nearly 8% upside from Monday's close of $181.06. The Wall Street Journal reported Saturday that Musk had used illegal drugs with some board members. "For instance, any Board reshuffle could slow decision-making and shorten investment time horizons," Nathan wrote. Daiwa is maintaining its earnings forecast of $3.10 per share for 2024 and $4.25 per share for 2025 based on 13% to 16% delivery volume growth.

Persons: Jairam Nathan, Tesla, Nathan, Elon Musk's Organizations: Daiwa, Markets, Street Locations: Delaware

☆ Stocks making the biggest moves premarket: Spotify, Eli Lilly, Palantir, UBS and more
▼ + stars: | 2024-02-06 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

The compan y posted adjusted earnings of $2.49 per share on revenue of $9.35 billion. Analysts anticipated $2.22 per share on revenue of $8.93 billion, according to LSEG. The company's revenue of $3.42 billion also beat analysts' forecasts of $3.40 billion. Chegg expects revenue between $173 million to $175 million, lighter than the $180.1 million consensus estimate, per StreetAccount. UPS -- Shares of the delivery company rose more than 1% after UBS upgraded the stock to buy from neutral.

Persons: Eli Lilly, Tesla, Li, amortization, Rambus, Macheel, Jesse Pound, Sarah Min, Michelle Fox Theobald Organizations: Spotify, LSEG, UBS —, JPMorgan, UBS, BP, Deutsche Bank, StreetAccount, UPS Locations: Swiss, StreetAccount .

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