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☆ Analysts love these cheap dividend-paying stocks heading into the second half
▼ + stars: | 2024-06-28 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

The stock market has had a hot first half, with the S & P 500 up roughly 15%, but there are still opportunities for investors to find cheap names with solid dividends. They also have upside to the average analyst price target of 10% or more, according to FactSet. The S & P 500 energy sector has also done well this year, up more than 9% so far. SLB has a whopping 41.5% upside to the average price target, while ConocoPhillips has more than 27% upside to the average price target. About 68% of analysts covering the stock rate it a buy or overweight, and it has nearly 22% upside to the average price target.

Persons: Sempra, Baker Hughes, SLB Organizations: Federal Reserve, CNBC Pro, Hotels, Resorts, BMO, Utilities, ConocoPhillips, Analysts, Oil, Hasbro, Bank of America Locations: SLB

☆ We are starting a position in a market-leading renewable energy company
▼ + stars: | 2024-06-27 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Following Thursday's trade, Jim Cramer's Charitable Trust will own 350 shares of NXT with a weighting of about 0.5%. It's the "backbone" of any solar power system, as management would say. It's why we are starting this position on the smaller side, leaving plenty of room to scale over time. If the stock can trade up to 18 times the high end of its full-year earnings guidance, the stock will trade at $55. Last week, it announced it paid $119 million to buy Ojjo, a renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation.

Persons: Jim Cramer's, Locker, Nextracker, Dan Shugar, We'll, Solaredge, Jim Cramer, Jim Organizations: NXT, UBS, Meta, Microsoft, Google, U.S . Energy, Jim Cramer's Charitable, CNBC Locations: Nextracker, Thursday's, U.S, United States, Eaton

☆ Walgreens slashes profit guidance, citing 'challenging' environment for consumers and pharmacies
▼ + stars: | 2024-06-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. Walgreens on Thursday reported fiscal third-quarter earnings that fell short of expectations and slashed its full-year adjusted profit outlook, citing a "challenging" environment for pharmacies and U.S. consumers. Still, Walgreens topped revenue estimates for the quarter on strong performance in its health-care segment. The company reported a net income of $344 million, or 40 cents per share, for the quarter. The company has not offered that guidance since October, when it said it expected $141 billion to $145 billion in sales.

Persons: Tim Wentworth, we've, Wentworth Organizations: Walgreens, Walgreens Boots Alliance, CNBC, LSEG Locations: Manhattan , New York City

☆ How Delta made itself America's luxury airline — and what United wants to do about it
▼ + stars: | 2024-06-25 | by ( Leslie Josephs | ) www.cnbc.com time to read: +16 min

Rival United Airlines — second to Delta in net profit margins — is circling. Delta plans to open Delta One lounges in Boston and Los Angeles later this year, and is studying airports where it could open others. Like other airlines, Delta accepted billions in federal aid to weather the pandemic. Luxury air travel and the United States didn't go together for many years — and might not still, if you ask well-heeled globetrotters. And at Delta and other airlines, many of the perks for luxury flyers come through lounges.

Persons: Benoit Tessier, Ed Bastian's, Bastian, Ed Bastian, John F, Raymond James, Savanthi Syth, Andrew Nocella, Patrick Quayle, Quayle, Richard Anderson, Anderson, Delta, Barack Obama's, They're, Shai Weiss, Claude Roussel, Joe Biden, United States didn't, Henry Harteveldt, Scott Kirby Organizations: Airbus, Delta Air Lines, Reuters Delta Air Lines, Transportation Department, Rival United Airlines —, CNBC, Delta Air Lines Inc, Bloomberg, Getty, American Express, Kennedy International Airport, United, Boeing, U.S, Labor, Southwest Airlines, U.S ., JetBlue Airways, Delta, Corporate, Northwest Airlines, Endeavor, Virgin, American, Sky Club, New, LaGuardia, Etihad Airways, Singapore Airlines, Atmosphere Research, Airlines, Sky Clubs, Los Angeles International Airport, JFK, American Airlines, JPMorgan, Consumer Electronics, Starbucks Locations: punctuality, New York, Delta, Chicago, Boston, Los Angeles, Dubrovnik, Croatia, Amman, Jordan, Cape Town , South Africa, Atlanta, U.S, Queens, N.Y, United, Tokyo, York, United States, Las Vegas

☆ CNBC Daily Open: Dow jumps as investors rotate out of tech; Nvidia sinks
▼ + stars: | 2024-06-25 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.

Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China

☆ FedEx shares jump after hours as massive cost-cutting measures kick in
▼ + stars: | 2024-06-25 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +4 min

FedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts' estimates in both earnings and revenue. FedEx further expects the demand environment to moderately improve through the next fiscal year, according to Carere. Investor's eyes are also on the company's largest segment Express, which has been struggling with margin growth the past year. Subramaniam said improving performance of the Express segment is a "top priority" for the company. USPS was the largest customer for the company's Express segment.

Persons: Brie Carere, Carere, Raj Subramaniam, Subramaniam, John Dietrich Organizations: FedEx, LSEG, Services, Federal Express Corporation, U.S . Postal Service, United Parcel Service, UPS, USPS Locations: United States

☆ U.S. probing China Telecom, China Mobile over internet and cloud risks, Reuters reports citing sources
▼ + stars: | 2024-06-25 | by ( ) www.cnbc.com time to read: +7 min

Routing through ChinaChina Telecom, China Mobile and China Unicom have long been in Washington's crosshairs. The FCC denied China Mobile's application to provide telephone service in 2019 and revoked China Telecom and China Unicom's licenses to do the same in 2021 and 2022 respectively. It cited at least nine instances where China Telecom misrouted internet traffic through China, putting it at risk of being intercepted, manipulated or blocked from reaching its intended destination. China Telecom has previously denied the government's allegations and told U.S. agencies that routing problems are common and occur on all networks. China Telecom did not respond to requests for comment about its U.S. based PoPs.

Persons: Peter Parks, Biden, China Unicom, Doug Madory, Bill Woodcock, Alibaba Organizations: HK, China Mobile, Peter, AFP, Getty, China Telecom, Authorities, Commerce Department, China, Commerce, Embassy, Reuters, Washington, Regulators, China China Telecom, FCC, U.S, Justice Department, PoPs Locations: China Mobile, China, Beijing, United States, Washington, crosshairs, U.S

☆ Gold could rally to $3,000 over the next 12-18 months, according to Bank of America
▼ + stars: | 2024-06-24 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Gold prices could hit $3,000 per ounce over the next 12 to 18 months if demand increases among large institutional investors, according to Bank of America commodity strategists. Central bank demand is also a positive sign, according to Bank of America. Monetary authorities are planning to increase their purchases of gold, according to the World Gold Council's central bank survey . Central banks are increasing gold reserves as a hedge against inflation, according to the survey. Monetary authorities are also reducing U.S. Treasury holdings and increasing gold reserves amid worries about the dominance and health of the dollar, according to Bank of America.

Organizations: Bank of, Federal Reserve, Bullion Market, Bank of America, Monetary, World Gold, Treasury Locations: Central, China, Beijing, @GC

An Israeli strike killed a top official in charge of ambulance services in the Gaza Strip, local health officials said on Monday, as the Israeli defense minister met with top American officials in Washington about a possible new phase in the Israeli offensive. The official, Hani al-Jafarawi, who was the director of ambulance and emergency services in Gaza, was killed in a strike on a health clinic in Gaza City, the Gazan Health Ministry said. The Israeli military did not respond to a request for comment. The meetings in the Washington area by Israel’s defense minister, Yoav Gallant, with the C.I.A. director, William J. Burns, and Secretary of State Antony J. Blinken on Monday coincided with a potential shift in the military campaign signaled by Israeli officials in recent days.

Persons: Hani al, Muhammad Salah, Israel’s pulverizing, Yoav Gallant, William J, Burns, Antony J, Blinken, Benjamin Netanyahu, “, ” Organizations: Gazan Health Ministry, Hamas, Health Ministry Locations: Gaza, Washington, Gaza City, Israel

☆ CDK's cyber outage hits U.S. auto dealers for second day in a row
▼ + stars: | 2024-06-21 | by ( ) www.cnbc.com time to read: +1 min

A cyber outage at retail technology and software provider CDK entered its second consecutive day on Thursday, impacting automobile dealers across the United States, the affected companies said on Thursday. "The CDK outage is impacting automotive dealerships across the U.S. and Canada, including a portion of BMW Group dealers," a spokesperson for BMW North America told Reuters. CDK told Reuters it was working to reinstate its services and get its dealers back to business "as quickly as possible". The company, which provides software to car dealerships, briefly shut down all its systems on Wednesday, saying it was investigating a cyber incident. Investment firm Brookfield Business Partners bought CDK in April 2022 for $6.41 billion in a cash deal, taking the last major publicly traded provider of software to auto dealers and manufacturers private.

Persons: CDK, Holman Organizations: CDK, BMW Group, BMW North America, Reuters, National Automobile Dealers Association, Privately, Investment, Brookfield Business Partners Locations: United States, Canada, CDK

☆ CDK cyberattack hits U.S. auto dealers for third day in a row
▼ + stars: | 2024-06-21 | 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 EmailCDK cyberattack hits U.S. auto dealers for third day in a rowCNBC's Eamon Javers joins 'Squawk on the Street' with the latest news.

Persons: Eamon Javers

☆ Experts say Shein's U.S. IPO is all but dead
▼ + stars: | 2024-06-21 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +2 min

The Shein logo can be seen on a smartphone, while the Chinese online retailer's website is open on a laptop. China-founded e-commerce company Shein's hopes of going public in the United States are growing slimmer by the day, according to experts, as rising tensions between Beijing and the U.S. roil business and trade. A London IPO could, in theory, be easier than a U.S. offering, according to Bochanis. If Shein's London IPO succeeds, it is unlikely to keep pursuing a U.S. offering, said University of Florida finance professor Jay Ritter, who studies IPOs. It became one of the first prominent Chinese companies to do so in the U.S. even as the Biden administration has increasingly cracked down on Chinese-made electric vehicles.

Persons: Shein's, confidentially, Angelo Bochanis, Bochanis, Jay Ritter, Zeekr, Biden Organizations: U.S, National Retail Federation, CNBC, TJX Companies, UBS, Target, Walmart, Renaissance, Securities and Exchange Commission, London Stock, University of Florida Locations: China, United States, Beijing, U.S, London

☆ EU to challenge U.S. and China strategically on trade, competition chief says
▼ + stars: | 2024-06-18 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

Executive Vice President of the European Commission for A Europe Fit for the Digital Age Margrethe Vestager talks to media in the Berlaymont, the EU Commission headquarter on May 23, 2024 in Brussels, Belgium. The European Union may be no economic match for its U.S. and China trade partners, but it can seek to contend with them strategically, the bloc's competition chief said Tuesday. Margrethe Vestager told CNBC that the EU had become "much better" at defending itself against unfair trade practices, and that it would continue to find novel ways of competing equitably with its economic partners. "The point is to realise we can never outspend China or the U.S.," Vestager told Silvia Amaro in Brussels. It follows similar measures by the U.S. last month, the latest phase in a growing trade tensions between the two economic powerhouses.

Persons: Margrethe Vestager, Vestager, Silvia Amaro Organizations: European Commission, European, CNBC, EU, EV, U.S Locations: Brussels, Belgium, China

☆ SoftBank-backed travel tech firm TravelPerk acquires U.S. rival and bags $135 million for expansion
▼ + stars: | 2024-06-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

To help fund the deal and TravelPerk's broader expansion efforts, the company also raised $135 million in debt financing from private equity firms Blackstone and Blue Owl. Avi Meir, TravelPerk's CEO and co-founder, told CNBC the deal would allow the company to turbocharge its growth in the United States. He expects the deal to double TravelPerk's U.S. revenues and make the country its biggest revenue-generating region by 2026. The Global Business Travel Association estimated that the US corporate travel sector was worth $329 billion in 2023. TravelPerk said its U.S. office footprint would expand to include AmTrav's offices in Boston, Chicago, Los Angeles and Miami.

Persons: Avi Meir, Meir, AmTrav, TravelPerk Organizations: CNBC, Blackstone, American Airlines, Business Travel Association, TravelPerk Locations: Chicago, U.S, United States, Britain, Boston , Chicago, Los Angeles, Miami

☆ Japan did it first. Chinese stocks with some of the biggest global upside
▼ + stars: | 2024-06-16 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

If the international expansion of Japanese companies is any guide, Chinese companies still have significant potential left in the global market. The company did not break out overseas revenue for the first quarter, but said overall revenue grew by 14% from a year ago to 3.8 billion yuan. When compared to Japanese companies, the contribution of overseas revenue to the total for Chinese businesses is low across industries. "We believe Zhejiang Dingli will benefit from strong boom lift sales growth, especially in the US market," the HSBC report said. I think the conversation has moved now more toward being tough on global trade or free trade," David Chao, global market strategist, Asia Pacific (ex-Japan), at Invesco, said during a webinar Thursday.

Persons: Steven Sun, Christine Peng, Anker, Dingli, Snibe, David Chao, — CNBC's Michael Bloom Organizations: HSBC, CSI, Japan's Nikkei, HSBC Qianhai Securities, UBS Asia Pacific, Companies, Amazon, Apple, Google, U.S . Commerce Department, Shenzhen New Industries Biomedical Engineering, Asia Pacific, U.S, Association of Southeast Asian Nations, Union Locations: China, Japan's, Shanghai, Germany, Indonesia, East, South America, Shenzhen, Zhejiang, Snibe — Shenzhen, U.S, Asia, Japan, Invesco, Singapore, The U.S

☆ First Came ‘Spam.’ Now, With A.I., We’ve Got ‘Slop’
▼ + stars: | 2024-06-11 | by ( Benjamin Hoffman | ) www.nytimes.com time to read: +1 min

Slop, at least in the fast-moving world of online message boards, is a broad term that has developed some traction in reference to shoddy or unwanted A.I. content in social media, art, books and, increasingly, in search results. The term became more prevalent last month when Google incorporated its Gemini A.I. model into its U.S.-based search results. Rather than pointing users toward links, the service attempts to solve a query directly with an “A.I.

Organizations: Google, Facebook

☆ China's consumers are spending on experiences. Travel stocks to watch
▼ + stars: | 2024-06-09 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

In a report last week about China's consumer market potential, Bank of America Securities analysts chose hotel operator H World as one of its top picks. "We believe H World is best positioned to capture long-term growth in the China hotel industry given best-in-class execution," the analysts said. BofA rates H World a buy, and expects its U.S.-listed shares can reach $47. That's 30% above where H World shares closed Thursday. In China, H World also owns master franchisee rights for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel.

Persons: Wang Xing, Meituan, Styles, Grand, Goldman Sachs, Morgan Stanley, Wang, Neil Shen, Shen, BTG's, BTG, Trip.com, — CNBC's Michael Bloom Organizations: HSBC, Hong, Bank of America Securities, Mercure, Grand Mercure, Novotel, Travelers, BTG Hotels, Shanghai, Jefferies Locations: Hong Kong, China, U.S, Asia, Macau, Taiwan, —, Mainland China

☆ Ukraine says it hit latest-generation Russian fighter jet for first time
▼ + stars: | 2024-06-09 | by ( ) www.cnbc.com time to read: +2 min

The Sukhoi Su-57 jet fighter at the MAKS-2019 Moscow International Airshow near Zhukovsky, southeast of Moscow. Ukrainian forces have for the first time hit a latest-generation Russian Sukhoi Su-57 fighter jet at an air base inside Russia, Kyiv's GUR defense intelligence agency said on Sunday, showing satellite pictures which it said confirmed the strike. In a Telegram post, the GUR did not specify how the Su-57 was hit or by which unit of the Ukrainian military. Russian blogger Fighterbomber said the jet fighter was struck by shrapnel and the damage was currently being assessed to see if the aircraft could be repaired. It is a heavy fighter jet capable of fulfilling a variety of battlefield roles.

Persons: Sukhoi Su, Kyiv's GUR, GUR, Fighterbomber, Alexander Kharchenko Organizations: Sukhoi, RIA Locations: Zhukovsky, Moscow, Russia, Russian, Ukraine

Oppenheimer raised its price target on Microsoft to $500 on the potential of increasing AI adoption. Shares of AT & T are up 9% on the year, but analyst Michael Rollins' $20 price target implies that shares could rise another 9%. Analyst Andrew Obin upgraded the Post-it and Scotch parent to buy from neutral and raised his price target by $15 to $120. Analyst Christopher Nardone upgraded the shoe maker to buy from neutral and raised his price target by $16 to $87. Analyst Jay Sole upped his price target on the clothing maker by $14 to $174, now suggesting upside of 43.4%.

Persons: Oppenheimer, Exxon, Neal Dingmann, Dingmann, aren't, — Spencer Kimball, Michael Rollins, Rollins, Lisa Kailai Han, BofA, Andrew Obin, William Brown, Michael Roman, Brown, Obin, — Alex Harring, Christopher Nardone, Nardone, Skechers, Jeffrey Zekauskas, Zekauskas, Huntsman, Benjamin Soff, Soff, Fred Imbert, PVH, Jay Sole, Calvin Klein, Tommy Hilfiger, Sole, Alex Harring, Morgan Stanley, Dara Mohsenian, Mohsenian, Anthony Chukumba, Chukumba, Gavin Parsons, Parsons, Tami Zakaria, Zakaria, Herc, Morgan, Tim Hsiao, Bernstein's Eunice Lee, NIO, America's Ming Hsun Lee, Timothy Horan, Horan, Rob Sanderson, Sanderson Organizations: CNBC, Microsoft, Loop, Exxon, Natural Resources, Citi, AT, VZ, Bank of America, Huntsman, JPMorgan, Deutsche Bank, UBS, Colgate, Palmolive, Loop Capital, UBS shaves, Boeing, Rentals, United Rentals, Herc Holdings, Wall, 3Q, Bank, OpenAI Locations: Truist, Guyana, OPEC, Thursday's, America's

☆ Payhawk, a $1 billion corporate card startup, plans M&A shopping spree to boost its U.S. footprint
▼ + stars: | 2024-06-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Saravutvanset | Room | Getty ImagesAMSTERDAM, Netherlands — Corporate payments startup Payhawk told CNBC it is planning mergers and acquisitions to grow its footprint in the U.S. and take on big players in the space like SAP and venture-backed firms Brex and Ramp. "We see an opportunity to have much better unit economics in this business," Borisov told CNBC at the Money 20/20 conference in Amsterdam, Netherlands, this week. Payhawk is a corporate spend management platform that issues smart cards for clients' employees to make payments and keep track of their expenses. Consolidation the name of the gamePayhawk recorded huge growth in the first quarter, the company told CNBC. Now, Payhawk wants to grow its U.S. footprint in a big way — and M&A will be a key to unlocking that growth, according to Borisov.

Persons: Hristo Borisov, Borisov, Payhawk, we're Organizations: Getty Images, CNBC, American Express Locations: Getty Images AMSTERDAM, Netherlands, U.S, Amsterdam

☆ OPEC+ policy shift 'casts a bearish shadow' over oil prices for next two years, Deutsche Bank says
▼ + stars: | 2024-06-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The decision by OPEC+ to increase oil production will cast a "bearish shadow" over oil prices for the next two years, creating a level of uncertainty not seen since the pandemic severely disrupted demand, according to Deutsche Bank. It is "inconceivable that the market could absorb anything close" to 2.2 million bpd, Deutsche Bank analyst Michael Hsueh told clients in a note Wednesday. The supply increase is similar in magnitude to the 2.3 million bpd oversupply during the first year of the pandemic in 2020, Hsueh wrote. The policy shift by OPEC+ "marks the end of the tightening cycle that began in October 2022," Hsueh said. The supply deficit of 500,000 bpd this quarter will rise to 1 million bpd in the third quarter before the OPEC+ production increases start, according to Deutsche.

Persons: Michael Hsueh, Hsueh, Goldman Sachs, Brent Organizations: OPEC, Deutsche Bank ., Deutsche Bank, TD Securities, Deutsche, Brent Locations: Saudi Arabia, Russia, OPEC, Mexico, U.S

Shares of Logitech are up 2% on the year and could rally another 17%, if Scemama's target price holds true. Analyst Kristine Liwag accompanied the move by raising her price target to $225 from $178. The bank reiterated its overweight rating on the credit card stock but lifted its price target to $275 from $265. International revs should run above the 10%+," the analyst added. Goldman analyst Tina Hou set a 12-month price target of $34, while Bank of America analyst Ming Hsun Lee set a price objective of $35.

Persons: Bernstein, Goldman Sachs, Goldman, TZE, Brian Lee, Lee, — Spencer Kimball, Didier Scemama, Scemama, — Lisa Kailai Han, Morgan Stanley, Kristine Liwag, Heico's, Liwag, Stanley Black, Decker, Julian Mitchell, Mitchell, Wells, Wells Fargo, Donald Fandetti, Fandetti, Canaccord, Kingsley Crane, Crane, Oppenheimer, Jed, Kelly foresees, FanDuel —, Kelly, Zeekr, Tina Hou, Ming Hsun Lee, Hou, Stacy Rasgon, Rasgon, Fred Imbert Organizations: CNBC, Broadcom, Bank of America, Investors, Technologies, Department of Energy, Logitech, Boeing, Barclays, Stanley, Nvidia, American, Express, American Express, U.S . American Express, Wall, Zeekr, China EV, China, Geely Automobile, AMD Locations: Monday's, EU, U.S, China, BofA

☆ Best energy and utility stocks to own for rest of year, according to UBS
▼ + stars: | 2024-05-31 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

In a Thursday note, analyst Josh Silverstein listed the firm's "most compelling" buy-rated stocks to own across the energy and utilities sectors, including Suncor Energy , Coterra Energy , SLB , NextEra Energy and First Solar . Energy and utilities sectors are faring well this year, gaining 12.5% and 8.9%, respectively, while the broader market has advanced about 9.3%. His $90 price target suggests shares could jump 15.1%. First Solar is another favorite of UBS, which assigned the stock a $350 price target that implies 26.5% upside. Other energy and utility favorites UBS named include Coterra and Suncor Energy .

Persons: Josh Silverstein, William Appicelli, Jon Windham, —, SLB Organizations: UBS, Suncor Energy, Coterra Energy, NextEra Energy, . Energy, Big Tech Locations: Schlumberger

☆ BlackRock-backed fintech Trustly says IPO still at least one year out even as profits jump 51%
▼ + stars: | 2024-05-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The boss of Swedish financial technology startup Trustly says an initial public offering for the company is still a year or two away from happening, even after a 51% jump in operating profit. "We need another year or two to really demonstrate to the market that open banking is happening happening, it's here," Tjarnberg told CNBC. Trustly is holding out on an IPO even after reporting a strong set of financials. Growth accelerated significantly in the second half of the year, Trustly said, climbing 27% compared with the same period in 2022. Tjarnberg told CNBC that the company's performance in 2023 was heavily driven by the growth at its U.S. business.

Persons: Johan Tjarnberg, Tjarnberg, Trustly, PayWithMyBank Organizations: CNBC, Trustly

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Below $200 a share is the level we'd get interested in buying more Salesforce stock, Jim said. The industrial name will continue to be a beneficiary of the AI trade due to Eaton's booming data center business. Alphabet : If this mega-cap name experiences a move lower, investors should scoop up shares, Jim said. Nvidia : There's not much more to say about Nvidia in light of another blowout earnings report and the strong guidance accompanying it.

Persons: Jim Cramer's, Jim, Apple's, Goldman Sachs, Salesforce, We've, Danaher, he'd, Walt Disney, We're, Estee Lauder, Eaton, Ford, Motors, Mary Dillon's, It's, Linde, Eli Lilly, Mark Zuckerberg's, Morgan Stanley, we're, Stanley Black, we've, Wynn, Jim Cramer, Michael M Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Abbott Laboratories, Abbott Labs, Amazon Web Services, Broadcom, Dell, Samsung, Costco Wholesale, Coterra Energy, DuPont De Nemours, DuPont, The, Eaton, Ford, GE Healthcare, Honeywell, Jim, Linde, Microsoft, Nvidia, Palo Alto Networks, Palo Alto, Change, Procter & Gamble, Constellation Brands, Constellation, Modelo, Corona, Federal Reserve, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Santiago, Getty Locations: China, Dover, Eaton, U.S, Maxx, HomeGoods, Wells Fargo, Macau, New York City

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