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The third quarter starts on Monday with corporate earnings trends largely intact, but showing early signs of trouble in tech land. The good news: for the big-cap tech companies that are truly dominating the market ( Apple , Microsoft , Alphabet , Nvidia , etc.) Still no recession, in the economy or in earnings So far, we have a deceleration in big-cap tech earnings and clear signs the consumer wants lower prices. Earnings trends for tech may still be rising (even if it is decelerating), but the rest of the market is generally flattish on earnings. Earnings: rising Positive Tech earnings: rising but decelerating Negative Job growth: strong but moderating Positive Interest rates: moderating Positive Inflation: moderating Positive Consumer: increasingly cautious Negative
Persons: Jensen, Nick Raich, it's, Raich, Lori Calvasina, We've, I've, you've, Levi Strauss, General Mills, Tim Wentworth, Taco Bell, Mills Organizations: Apple, Microsoft, Nvidia, Big, Meta, Jensen Huang's, Scout, U.S, Equity, RBC Capital Markets, CNBC, Nike, Walgreens, Micron, FedEx, General, . Companies, Southwest Airlines, Pool Corp, Urban Outfitters, Yum Brands
Former President Donald Trump, left, and President Joe Biden take part in the CNN presidential debate on Thursday, June 27. Austin Steele/CNN Trump and Biden were debating each other for the first time since 2020. Austin Steele/CNN Biden's campaign won a coin toss before the debate to choose which side he would stand on. Austin Steele/CNN Biden addresses Trump directly during the debate. Austin Steele/CNN Biden answers an early question.
Persons: Joe Biden, Donald Trump ., Biden, Trump, , ” Trump, he’d, it’s, ” Biden, Biden’s, Hunter, Stormy Daniels, Trump’s, Jake Tapper, Dana Bash, Roe, , Tristen Rouse, Joe, – Biden flailed, Austin Steele, We’d, Herbert Hoover, David, “ I’ve, Beau, Daniels, Trump “, Wade, “ It’s, Israel, , Donald Trump, Will Lanzoni, Jill Biden, Adam Rose, CNN US Sen, Marco Rubio, CNN Trump, CNN Biden, CNN Tapper, Robert F, Kennedy Jr, Kennedy, CNN MJ Lee, Mandel Ngan, Megan Varner, Reuters Kennedy, Burk Stringfellow, Vladimir Putin, Putin, we’ve, I’m, Hillary Clinton –, South Carolina Republican Sen, Tim Scott, – Biden, freefall ”, Tapper – Organizations: CNN, Biden, Trump, Democratic, ABC, , Atlantic, Capitol, Capitol Hill, US Supreme Court, CNN US, House, CNN Biden's, CNN Biden, Atlanta, White House, Getty, Reuters, NATO, Ukraine, Western Europe, South Carolina Republican, Blacks, Trump – Locations: Atlanta, Washington ,, America, Iraq, United States, Israel, Gaza, Palestinian, Georgia, CNN's, AFP, Afghanistan, Russian, Ukraine, Iran, Wisconsin , Michigan, Pennsylvania, North Carolina, South, freefall, Covid
Micron — Shares slipped nearly 6% after the semiconductor manufacturer posted revenue guidance of $7.6 billion for its current quarter, coming in line with analyst expectations. Walgreens Boots Alliance — Shares tumbled more than 11% after the retail pharmacy company reported a third-quarter earnings miss and cut its full-year adjusted profit outlook. Goldman Sachs — The U.S. banking stock slipped nearly 2% after the latest round of stress test results . However, the company reported EBITDA guidance for its fiscal year 2025 that was 5% lower than analyst consensus estimates, according to FactSet. U.S. Bancorp — The bank stock slipped more than 1% following a downgrade to neutral from overweight at J.P. Morgan.
Persons: Levi Strauss, Suzano, Walgreens, Goldman Sachs, Morgan, Vivek Juneja, — CNBC's Michelle Fox, Alex Harring, Fred Imbert Organizations: Micron, GSK —, Centers for Disease Control, LSEG, Walgreens, Federal Reserve, . U.S, Bancorp Locations: U.S, .
Check out the companies making headlines in midday trading: Walgreens Boots Alliance — The stock plummeted more than 24.5% after the retail company reported third-quarter earnings results that missed Wall Street's expectations . Levi Strauss — The denim maker's stock tumbled 17.1% after revenue came in at $1.44 billion for the second fiscal quarter. International Paper — Shares of the paper manufacturing company fell nearly 8% following the news that Suzano is no longer pursuing a potential acquisition of the company. Hunterbrook Capital, a hedge fund Hunterbook is affiliated with, has a short position in the company's shares. Micron Technology — The memory chip stock shed nearly 7% after Micron Technology offered guidance that was roughly in line with expectations.
Persons: Levi Strauss, Suzano, Gary Friedman, AeroVironment, Goldman Sachs, Alex Harring, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Walgreens, Alliance, CVS, LSEG, Hunterbrook Media, Hunterbrook, Micron Technology, Arista Networks, Citi
Three-Stock Lunch: Micron, Walgreens Boots and Levi Strauss
  + stars: | 2024-06-27 | 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 EmailThree-Stock Lunch: Micron, Walgreens Boots and Levi StraussAnthony Forcione, Rockland Trust portfolio manager, joins 'Power Lunch' to discuss stock plays for three stocks.
Persons: Levi Strauss Anthony Forcione Organizations: Micron, Walgreens Boots, Rockland Trust Locations: Rockland
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLevi Strauss CEO Michelle Gass goes one-on-one with Jim CramerLevi Strauss President and CEO Michelle Gass joins 'Mad Money' host Jim Cramer to talk quarterly results, omnichannel retail, its DTC business and more.
Persons: Levi Strauss, Michelle Gass, Jim Cramer Levi Strauss, Jim Cramer
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are sharpening our women's business strategy, and it's working, says Levi Strauss CEOLevi Strauss President and CEO Michelle Gass joins 'Mad Money' host Jim Cramer to talk quarterly results, omnichannel retail, its DTC business and more.
Persons: Levi Strauss, Michelle Gass, Jim Cramer
The jeans creator on Wednesday posted fiscal second quarter revenue that fell just short of Wall Street's expectations at a time when shoppers are stocking their wardrobes with denim dresses, skirts and ultra-low-rise baggy pants. It's not clear how sales at Docker's were affected by the timing of Levi's wholesale orders. The changes are necessary because nearly half of Levi's sales these days are coming from its own website and stores. During the quarter, wholesale revenue grew 7%, but excluding the shift in timing of wholesale orders, sales in the channel decreased 4%. Singh noted that wholesale revenue improved on a sequential basis, but the company has a "conservative" view of the channel's growth moving forward.
Persons: hasn't, Levi Strauss, Levi's, Harmit Singh, Singh, Michelle Gass Organizations: LSEG, Finance, CNBC, Levi's, Nike Locations: U.S, Europe, Macy's
U.S. S&P 500 futures fell slightly Wednesday night after the S&P 500 rose for a second day. S&P 500 futures and Nasdaq 100 futures dipped 0.19% and 0.32%, respectively. Goldman Sachs shares slid 1.7%, while JPMorgan Chase shares rose slightly. During the regular session Wednesday, the S&P 500 closed up 0.2%, while the Nasdaq Composite added 0.5%. Strategists surveyed by CNBC Pro anticipate the S&P 500 will likely end the year not even 1% higher from current levels.
Persons: Levi Strauss, Goldman Sachs, Brian Levitt, CNBC's Organizations: New York Stock Exchange, Nasdaq, Dow Jones Industrial, Micron, Bank, Federal Reserve, U.S, JPMorgan Chase, Dow Jones, Amazon, CNBC Pro, Walgreens Boots Alliance, Nike
In a Wednesday interview with CNBC's Jim Cramer, Levi Strauss CEO Michelle Gass said the popularity of "top-to-bottom" denim outfits is growing. "Our new focus is, yes, continuing to own jeans, but taking that denim top to bottom," she said. Besides the "head-to-toe denim lifestyle," Gass added other trends like baggier and looser items are on the rise. She said that much of this quarter's success came from the direct-to-consumer business and the women's category. "We see our consumers as being really resilient, and we're excited about the [denim] category," she said.
Persons: CNBC's Jim Cramer, Levi Strauss, Michelle Gass, Gass, there's Locations: U.S
Ozak Tekstil told CNN it had terminated the workers “as a last resort” when they declined an invitation to return to work. If it refused, “we will be forced to take the appropriate next steps to uphold workers’ rights,” Levi’s wrote. It did not reinstate all of the fired workers. Inside the Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023. The Ozak Tekstil factory in Sanliurfa, Turkey, in December 2023.
Persons: , Levi’s, LEVI, Ozak Tekstil, Zara, Hugo Boss, Guess, Ralph Lauren, Seher Gulel, Gulel, , Sen, Tekstil, Levi Strauss, Justin Sullivan, ” Gulel, enshrines, Sen didn’t, unionize, ” Ozak Tekstil, ” Levi’s, Scott Nova, ” Nova, “ Ozak, Carolin Westermann, Funda Bakis, CNN Bakis, Bakis, ” Bakis, Tanem Zaman, Eyad Kourdi, Brice Laine Organizations: Istanbul CNN —, ’ Association, Worker Rights Consortium, CNN, Birtek, WRC, Ozak Locations: Istanbul, Turkey, Turkey’s Sanliurfa, San Francisco , California, Sanliurfa
CNBC's Jim Cramer guided investors through this week's most important Wall Street action, highlighting earnings reports from Micron , Walgreens and General Mills . Wednesday brings a slew of earnings reports, including Micron , General Mills , Levi Strauss , AeroVironment and Jefferies Financial . Cramer noted some segments that drive General Mills' business — including snacks, cereal and dough — could be vulnerable because of the rising popularity of weight loss drugs. Walgreens will report on Thursday, and Cramer said Wall Street doesn't have great expectations for the company. McCormick also reports that day, and Cramer said analysts are taking down price targets due to sluggish growth.
Persons: CNBC's Jim Cramer, Mills, Cramer, else's, it's, General Mills, Levi Strauss, AeroVironment, Jefferies, Tim Wentworth, McCormick Organizations: Micron, Walgreens, Big Tech, Carnival, FedEx, Royal, General, Jefferies Locations: Royal Caribbean
America’s housing crisis continues to worsen
  + stars: | 2024-06-23 | by ( Bryan Mena | ) edition.cnn.com   time to read: +6 min
Washington CNN —Homeowners in America aren’t the only ones struggling with an unaffordable housing market. A report from Harvard University’s Joint Center for Housing Studies released last week showed that both homeowners and renters in recent years have become increasingly burdened by climbing housing costs. That’s all part of a broader struggle in the US housing market, and recent data shows that it hasn’t gotten any better. But there’s a problem: ChatGPT — soon to be integrated into Siri — is banned in China, reports my colleague Samantha Murphy Kelly. The Chicago Fed releases its National Activity Index for May.
Persons: ” Lael Brainard, , , Brainard, Biden, ” Brainard, ChatGPT —, Siri —, Samantha Murphy Kelly, OpenAI, Siri, ChatGPT, Read, Christopher Waller, Lisa Cook, Michelle Bowman, General Mills, Levi Strauss, Tom Barkin Organizations: CNN Business, Bell, Washington CNN — Homeowners, America aren’t, Harvard University’s, for Housing Studies, Harvard, , White, Economic Council, Urban Institute, Administration, Apple, Apple Intelligence, Microsoft, Google, Meta, Samsung, Cyberspace Administration, FedEx, Chicago Fed, Global, Index, Board, Micron, General, US Commerce Department, Federal Reserve, Nike, McCormick, Walgreens, US Labor Department, National Association of Realtors, Richmond Fed, University of Michigan Locations: Washington, America, Congress, China
Nvidia had some strong moves in the days after its 10-for-1 stock split traded in the market on June 10. Tuesday brought weaker-than-expected May retail sales , which the stock market took in stride, perhaps on the view that softness helps the view that the Federal Reserve will indeed cut interest rates later this year. Ultimately, the economic readings this past week signal that while U.S. growth remains resilient, things are slowing, which is an ideal setup for stock market bulls. The Fed's favorite inflation gauge and the tail end of earning season will be drivers of the market in the week ahead. ET: New Home Sales Before the bell: General Mills (GIS), Paychex (PAYX), UniFirst (UNF) After the bell: Micron (MU), BlackBerry (BB), Levi Strauss (LEVI) Thursday, June 27 8:30 a.m.
Persons: we're, Levi Strauss, Mills, LEVI, McCormick, Jim Cramer's, Jim Cramer, Jim, Emily Elconin Organizations: Nasdaq, Dow, Nvidia, Microsoft, Apple, Broadcom, Energy, West Texas, Utilities, Federal, Juneteenth, FedEx, Nike, Micron, UniFirst, UNF, BlackBerry, Walgreens Boots Alliance, Outdoor Brands, Jim Cramer's Charitable, CNBC, Shoppers, Getty Locations: U.S, Oaks, Novi , Michigan
Trump’s campaign insists the former president is his own best adviser and he alone will make the call. Vance,” Trump Jr. told Newsmax in January. That’s a key concern of Trump’s top advisers who have otherwise let the former president dictate the process. “President Trump should not be made to explain other people’s scandals or statements.”Burgum’s wealth may have worked in his favor for a time when Trump trailed President Joe Biden in the money wars. But the recent influx of cash into the campaign following Trump’s fundraising blitz and criminal convictions has blunted that advantage.
Persons: Donald Trump, Donald Trump Jr, Sen, J.D, Vance, Rupert Murdoch, Trumpworld, Doug Burgum, Sean Hannity, Florida Sen, Marco Rubio, Trump, , Burgum, Rubio, South Carolina Sen, Tim Scott, Elise Stefanik, Byron Donalds, Ben Carson, , Susie Wiles, Chris LaCivita, Wiles, “ Susie, Nikki Haley, Scott, In Rubio, Hannity, Kellyanne Conway, Trump’s, Mike Pence, Conway, ” Conway, namechecked Donalds, Marc Andreessen, Brian Hook, Bill Ackman —, Ken Griffin, Griffin, Haley, Steve Bannon, Bannon, Paul, Trump’s Jesus, Jesus, ” Bannon, ” Trump, Newsmax, ” Tucker Carlson, Carlson, Vance “, I’ve, Pence, , bankroll, Marco Rubio’s, Joe Biden Organizations: CNN, Ohio Republican, North Dakota Gov, Fox News, Florida, Trump, Republican National Convention, House GOP, Florida Rep, Urban, Street, South Carolina Gov, Indiana Gov, Washington Post, Democratic Party, The New York Times, Wednesday, White, Politico, Trump Jr, GOP, Fox, North, Republican, New, , Wall Street, Murdoch’s, Corp, Locations: Milwaukee, South Carolina, Florida, New York City, Nevada, Conway, Mar, Washington, South Florida, Miami, Vance’s, North Dakota, White
Michael Clinton is all about practicing what he preaches. (See Michael Clinton, above.) The book hit an unexpected nerve with readers and was the catalyst for creating Roar Forward, in partnership with the Hearst Corporation, his former employer. An online platform to access newsletters, content and storytelling, Roar Forward focuses on “individuals aged 50 and over who are redefining the second half of life in their careers, passions and lifestyles,” said Mr. Clinton, 70, who includes himself among the growing cohort of people he calls “re-imagineers.”It’s quite a deviation from his hectic past life. After a 40-year career in New York media, he retired in 2020 from Hearst Magazines, where he was president of marketing and publishing.
Persons: Michael Clinton, Everest’s, , Clinton, Organizations: Columbia University, Hearst Corporation, Hearst Magazines Locations: New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Just ask Christian Siriano, who's dressed numerous celebrities for red-carpet occasions. Beginning June 26 at 6 p.m., Siriano will take live questions on Persil's TikTok account about re-styling outfits and maintaining the quality of beloved pieces. AdvertisementFrom left to right: Zhavia Ward, Alicia Silverstone, Indya Moore, Leslie Jones, Rachel Bilson, Angela Sarafyan, and Heidi Klum with Christian Siriano at his show at New York Fashion Week. I want you to be able to wear your special Christian Siriano gown to other things throughout your life."
Persons: , Hilary Duff's, Lizzie McGuire, Emma Stone, Cate Blanchett, Kate Middleton, Christian Siriano, who's, Siriano, Zhavia Ward, Alicia Silverstone, Indya Moore, Leslie Jones, Rachel Bilson, Angela Sarafyan, Heidi Klum, Jamie McCarthy, Siriano Siriano, Laura Dern, Jordan Strauss, Ian West Organizations: Service, Business, New York
Michaela Jaé Rodriguez is known for her work on "Pose" and became the first transgender person to win a Golden Globe in 2022. Jordan Strauss/APBefore landing her role in "Pose," Rodriguez appeared on TV in shows like "Nurse Jackie" and "The Carrie Diaries." After three seasons, Rodriguez was finally nominated for an Emmy in May 2021 for her role in "Pose," making history. And in January 2022, Rodriguez made history again by becoming the first transgender person to win a Golden Globe. "This is the door that is going to Open the door for many more young talented individuals," Rodriguez wrote on Instagram.
Persons: Michaela Jaé Rodriguez, Mj Rodriguez, Jordan Strauss, Rodriguez, Jackie, Blanca Rodriguez, Maya Rudolph, Adam Scott, Joel Kim Booster Organizations: Globe, Black Latina, Netflix, Apple Locations: Black, Newark New Jersey
Fatherhood is good for dads. Here’s why
  + stars: | 2024-06-14 | by ( Elissa Strauss | ) edition.cnn.com   time to read: +9 min
CNN —Many arguments about why dads should do more parenting focus on why that would be good for their wives or partners and kids. Simon & SchusterBut with their kids, dads have a chance to explore all these sides and more, often away from the scrutiny of the public eye. Dads really are doing more careIt may not always feel like fathers are doing more parenting, but they are. One cross-national study found that dads spent an average of 16 minutes a day caring for their kids in 1965. Also, dads find parenting “extremely important to their identity,” and enjoyable and rewarding nearly identically as often moms do.
Persons: It’s, Elissa Strauss, Simon, Schuster, ” Matt Englar, Carlson, Eric Gardner, Gardner, ” Gardner, ” Stephanie Coontz, , Brad Harrington, Harrington, they’re, , Caregiving, Brian Anderson, David Bullman, Bullman, I’m, , ” Elissa Strauss Organizations: CNN, Center for Boys, California State University, Fullerton, US Army, Boston College Center for Work, American Psychological Association, Others Locations: Colorado Springs
When you're applying for a job, many career experts will tell you to tailor your resume to the job description. They recommend sifting through its requirements to see what's most relevant for the role and tweaking your resume accordingly. Longtime HR executive James Hudson, who's led talent acquisition at companies like Nike and Levi Strauss & Co., disagrees with this approach. "It's bad advice to customize your resume" for every role, he says. But the job description itself might not give a 100% sense of where the emphasis will be on day-to-day job duties.
Persons: James Hudson, who's, Levi Strauss, they're, Hudson Organizations: Nike
Read previewApple has made a big brand-partnerships hire who will work across its Apple TV+ entertainment business, a sign that it's serious about becoming a bigger advertising company. Lewinsky's role at Apple is expected to resemble that of Mahta Eghbali, who led copromotions for Apple TV+ films, TV, and sports and who left the company in 2023. Industry sources who work in branded entertainment said Apple TV+ has been stepping up efforts to use brands to promote its entertainment. Apple TV+ doesn't have an ad tier, but it's made a handful of hires from the TV business that have fueled speculation that it plans to introduce one, despite its long-held stance on customer privacy. Apple TV+ also recently hired a marketing vet, Tony Trujillo, to run marketing partnerships.
Persons: , Mike Lewinsky, Eghbali, Lewinsky, Monica Lewinsky, Barbie, merch, Ted Lasso, It's, Lauren Anderson, Magno Herran, it's, Ricky Strauss, Chris Van Amburg, JP Richards, Tony Trujillo Organizations: Service, Apple, Endeavor, InBev, DP, Marriott International, Visa, Business, Creative Artists Agency, Entertainment Media Ventures, Nike, Tandem, Amazon MGM, Netflix, Lacoste Locations: 160over90
As such, many will also be writing their resumes for the first time in hopes of catching recruiters and hiring managers' attention. There's one more line worth including under each experience that could give recruiters a sense of your history. "I think it's really helpful to have an anchor statement," says James Hudson, an HR executive who's headed talent acquisition at companies like Nike and Levi Strauss & Co. 'Fintech company with half a billion dollars in revenue'An anchor statement shows up under your job title and the company you worked for. "But even for consumer-facing brands," says Hudson, "it can be helpful to put the anchor statement because, yeah, sure, everyone's heard of Nike or Apple, but most people probably don't know how big those companies are."
Persons: , James Hudson, who's, Levi Strauss, Hudson, everyone's Organizations: Nike, Apple
Significantly less clear, though, is how much the NRA can help Trump’s bid to win the White House once again. “Donald Trump is winning no new voters when he boasts about doing nothing about gun violence during his presidency. Period,” said Nick Suplina, a senior vice president at Everytown for Gun Safety, a group founded in the aftermath of the 2012 Sandy Hook Elementary School shooting. Suplina said Trump’s NRA appearance “shows that both the organization and the man are a bit desperate for each other. Among both gun safety advocates and gun rights groups, there’s little disagreement about the stakes in 2024.
Persons: Donald Trump, Trump, Wayne LaPierre, It’s, , “ It’s, I’ve, ” Trump, Kristi Noem, Donald Trump Jr, Joe Biden’s, Bryan Lanza, “ Donald Trump, ” Lanza, , Biden, Nick Suplina, Sandy, Suplina, Aidan Johnston, Johnston, ” Suplina, ” Biden, Karoline Leavitt, CNN’s Kristen Holmes, Alayna Treene Organizations: Dallas CNN —, National Rifle Association, NRA, White House, New, Political, Mar, CNN, North Dakota Gov, Libertarian Party, Republican, Trump, Biden, Safety, Sandy Hook Elementary, Gun Owners of America, White, U.S Locations: New York, Manhattan, Jersey, Washington ,, Minnesota, United States, Wyoming, Pennsylvania, Parkland , Florida
Take-Two CEO on GTA VI release, upswing in mobile gaming
  + stars: | 2024-05-17 | 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 EmailTake-Two CEO on GTA VI release, upswing in mobile gamingTake-Two Interactive CEO Strauss Zelnick joins 'Money Movers' to discuss the company's quarterly earnings results, how confident Zelnick is in the guidance for fall 2025, and much more.
Persons: Strauss Zelnick
Grand Theft Auto 6 is set to release in Fall 2025, according to Take Two. Take Two's CEO expressed confidence in Rockstar and expects a high commercial impact from the game. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"Grand Theft Auto 6," perhaps the most anticipated game of the last decade, finally has a release date after reports of possible delays. Take Two Interactive, the company behind Rockstar Games — which creates "Grand Theft Auto" — announced that "GTA 6" will get a release date sometime in Fall 2025.
Persons: , Strauss Zelnick Organizations: Service, Rockstar Games, , Hollywood
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