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☆ Russia's GDP growth slowed in Q2 while inflation continued to soar on the back of heavy state spending: report
▼ + stars: | 2024-08-10 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Russia's GDP growth slowed to 4% in Q2, while inflation continued to rise. Economists have long been warning that the Russian economy is showing signs of "overheating." Go to newsletter preferences Thanks for signing up! AdvertisementRussia's economic growth slowed to 4% in the second quarter of 2024, down from 5.4% in Q1, AFP reported, citing official data released on Friday. While the Russian economy continues to expand, it marked the lowest quarterly GDP growth result since the beginning of 2023, the report said.

Persons: — Organizations: Service, AFP, Business Locations: Russian

☆ Marqeta CEO on Q2 earnings, consumer trends and the end of cash
▼ + stars: | 2024-08-09 | 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 EmailMarqeta CEO on Q2 earnings, consumer trends and the end of cashSimon Khalaf, Marqeta CEO, joins 'Power Lunch' to discuss the payments business and BNPL trends.

Persons: Simon Khalaf

☆ Akamai CEO Tom Leighton on Q2 earnings beat, AI adoption and growth outlook
▼ + stars: | 2024-08-09 | 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 EmailAkamai CEO Tom Leighton on Q2 earnings beat, AI adoption and growth outlookAkamai Technologies co-founder and CEO Tom Leighton joins 'Squawk Box' to discuss the company's quarterly earnings results, growth outlook, impact of generative AI adoption, his thoughts on the CrowdStrike outage, and more.

Persons: Tom Leighton Organizations: Technologies

☆ If you invested $1,000 in drugmaker Eli Lilly 10 years ago, here's how much money you'd have now
▼ + stars: | 2024-08-08 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +2 min

One of the world's most valuable drug manufacturers by market capitalization reported its second-quarter earnings results Thursday, and they were impressive. Zepbound was approved Nov. 8 by the U.S. Food and Drug Administration as a treatment for weight management and obesity, according to Eli Lilly. In its first full quarter in the U.S. market, Zepbound brought in $517.4 million in revenue, Eli Lilly reported in April. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC during a "Squawk Box" interview Thursday. And drug manufacturers such as Eli Lilly and Novo Nordisk, the pharmaceutical company that makes Ozempic and Wegovy, are racing to meet that demand.

Persons: you've, Eli Lilly, it's, Zepbound, we're, David Ricks, Morgan Stanley's Organizations: U.S . Food, Drug Administration, CNBC, Centers for Disease Control, Pew Research Center, Novo Nordisk Locations: U.S, United States

☆ These are the 5 luxury items China's Gen Z is going nuts for, a retail expert says
▼ + stars: | 2024-08-08 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +7 min

Related storiesThat makes sense because, per Germano, Gen Z Chinese buyers are less logo-orientated than their parents' generations. Saint LaurentGermano's third pick was the Saint Laurent Niki Medium bag, which retails for $3,150. Yves Saint LaurentThe Saint Laurent Le 5 à 7 Hobo handbag, which retails from $1,750 to $5,100, is another one of Germano's picks. Jeremy Moeller/Getty ImagesMaison Margiela's Replica sneakers are trendy among Chinese Gen Z-ers, Germano said. Like the understated Saint Laurent Le 5 à 7 Hobo, Maison Margiela's Replica sneakers are simple and discreet enough for everyday use.

Persons: —, Zers, Antonello Germano, Z, GG Marmont, Gucci, Marmont, Edward Berthelot, Germano, Gucci Horsebit, Jeremy Moeller, Gen, millennials, Laurent Niki, Saint Laurent Germano's, Saint Laurent Niki, Saint Laurent, Laurent Le, Yves Saint Laurent The, Yves Saint Laurent The Saint Laurent Le, Germano's, Laurent, Burberry, Hugo Boss, Bernard Arnault's LVMH, Louis Vuitton, Maison, Saint Laurent Le Organizations: Service, Daxue Consulting, Business, Getty, Saint, Yves Saint Laurent The Saint, tote, Bloomberg, Swatch, Dior Locations: China, Givenchy, Japan, Miami

☆ 'Babies tossed out with the bath water': Why top strategists aren't scared during the wildest market since March 2020
▼ + stars: | 2024-08-06 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Related storiesWhile those concerns served as the kindling, it was the July jobs report that sparked terror. A closer look at the jobs report reveals that while job additions underwhelmed, jobless claims were also minimal. AdvertisementSecond-quarter earnings growth has been impressive so far and seems set to rise by low single digits, according to UBS GWM. The bullish strategy chief remarked in a note Monday that six of the 11 market sectors have enjoyed double-digit earnings growth this quarter, while only three have seen declines. "Such sell-offs can offer an opportunity to 'catch babies tossed out with the bath water,'" Stoltzfus wrote.

Persons: —, Oppenheimer, Jonathan Golub, Oppenheimer Jason Draho, Americas Solita Marcelli, Marcelli, Beryl, Draho, That's, David Lefkowitz, John Stoltzfus, Stoltzfus Organizations: Service, Business, UBS, UBS Global Wealth Management, Labor, UBS GWM Locations: Americas

☆ Airbnb shares drop 14% on earnings miss as company warns of slowing U.S. demand
▼ + stars: | 2024-08-06 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Airbnb CEO and co-founder Brian Chesky speaks at The Fast Company Innovation Festival on September 21, 2022, in New York. Airbnb shares dropped 14% in after-hours trading after the company reported second-quarter earnings that missed analyst expectations and warned that it's seeing signs of slowing demand from U.S. customers. Here's how the company did compared to LSEG estimates for the quarter ended June 30:Earnings per share: $0.86 versus $0.92 expected. Revenue: $2.75 billion versus $2.74 billion expected. It also cautioned that it was "seeing shorter booking lead times globally and some signs of slowing demand from U.S.

Persons: Brian Chesky, Airbnb Organizations: Revenue, Asia Pacific, Federal Reserve Locations: New York, Latin America

☆ Oil giant Saudi Aramco's second-quarter profit dips 3% on lower crude production volumes
▼ + stars: | 2024-08-06 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Members of media chat before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Saudi state oil giant Aramco reported $29.1 billion in net profit for the second quarter, a dip of just over 3% from the same period last year as crude production volumes remained low. Net income from the first half of the financial year was $56.3 billion, down from $62 billion during the same period last year. The firm also posted free cash flow for the second quarter of $19 billion compared to $23.2 billion one year prior. Aramco reaffirmed its second-quarter base dividend of $20.3 billion, and declared a performance-linked dividend of $10.8 billion to be paid in the third quarter.

Persons: Amin Nasser, Capital, Brent Organizations: Aramco, Plaza Conference, Al Locations: Dhahran, Saudi Arabia, Saudi, Riyadh

☆ GlobalFoundries CEO on Q2 earnings beat
▼ + stars: | 2024-08-06 | 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 EmailGlobalFoundries CEO on Q2 earnings beatGlobalFoundries CEO Thomas Caulfield joins 'Money Movers' to discuss the company's quarterly earnings results, why the auto sector is special for the company, and much more.

Persons: Thomas Caulfield

☆ 5 reasons why Uber is on the up
▼ + stars: | 2024-08-06 | by ( Tom Carter | ) www.businessinsider.com time to read: +1 min

After years of massive losses, Uber is finally making money. Uber partly owes its recent hot streak to increased demand for its ride-hailing and delivery services. Go to newsletter preferences Thanks for signing up! AdvertisementAfter years of massive losses and huge spending, Uber is now making a habit of turning a profit. This comes after Uber announced its first-ever annual operating profit of $1.1 billion for 2023 in February.

Persons: Uber, — Organizations: Service

☆ Meta's Gen Z secret weapon is Facebook Marketplace
▼ + stars: | 2024-08-06 | by ( Jordan Hart | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Read previewMeta is counting on Gen Z's love of a good deal to attract more young users to Facebook. Facebook Marketplace has "seen particular traction with young adults" and has been "one of the drivers of strength in young adults" for Meta, said CFO Susan Li during Meta's Q2 earnings call last month. Among social media users, Marketplace is the most popular social commerce platform, according to Capital One Shopping research. AdvertisementIn an average month, up to 1.228 billion online shoppers worldwide make a purchase from Facebook Marketplace, and 51.2% of all social media users made their latest social media purchase from it. Thanks in part to Marketplace, Zuckerberg is "particularly pleased with the progress that we're making with young adults on Facebook," he said in the earnings call last month.

Persons: —, Z's, Mark Zuckerberg, it's, Gen, Zuck, Meta, that's, Susan Li, Max Willens, Willens, Karissa Franklin, Franklin, Zuckerberg Organizations: Service, Facebook, Business, Meta

☆ Uber CEO Dara Khosrowshahi on Q2 results: Company is really hitting on all cylinders
▼ + stars: | 2024-08-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber CEO Dara Khosrowshahi on Q2 results: Company is really hitting on all cylindersUber CEO Dara Khosrowshahi joins 'Squawk Box' to discuss the company's quarterly earnings results, the performance of Uber Eats, challenges facing the company's freight business, and more.

Persons: Dara Khosrowshahi, Uber

(This is CNBC Pro's live coverage of Monday's Wall Street chatter as global markets sell off. — Lisa Kailai Han 7:02 a.m.: How long sell-offs typically last Bad news: The current market sell-off may have further to go. — Lisa Kailai Han 6:09 a.m.: Oppenheimer's Stoltzfus: Best to not 'jump to conclusions' Investors need to have a cool head as global markets sell off, according to Oppenheimer's John Stoltzfus. — Fred Imbert 5:51 a.m.: Global markets in an 'aggressive risk-unwind', Vital Knowledge says Fears of a U.S. recession are pressuring global markets, leading investors around the world to sell some of this year's top winners, according to Adam Crisafulli of Vital Knowledge. "Markets are caught in an aggressive risk-unwind as equities plunge around the world, with tech getting hit particularly hard," he wrote in a note Monday.

Persons: Wharton's Siegel, Jeremy Siegel, CNBC's, Siegel, hasn't, it's, … They're, —, Lisa Kailai Han, Tom Lee, Lee, Duncan Toms, Toms, Fred Imbert, Victoria Greene, Greene, It's, Nimrit Kang, — Lisa Kailai Han, Dan Ives, Gene Goldman, Gennadiy Goldberg, Ives, Goldman, Goldberg, Oppenheimer's John Stoltzfus, Evercore, Ed Hyman, Hyman, Adam Crisafulli, Crisafulli Organizations: CNBC, Stock, Nikkei, Dow Jones Industrial, Nasdaq, Wharton, Federal Reserve, Fundstrat Global, HSBC, G Squared, Wealth, NorthStar Asset Management, Street, Wedbush, TD Securities, Federal, NASDAQ, U.S, Fed, Global Locations: U.S, Europe, Japan, China

☆ Top Wall Street analysts like these 3 stocks for long-term prospects
▼ + stars: | 2024-08-04 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Instead, they should consider the recommendations of top Wall Street analysts, who perform an in-depth analysis of a company's fundamentals so they can highlight stocks with solid long-term growth potential. Here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. However, the growth in YouTube advertising revenue slowed down in the quarter and missed analysts' expectations. Following the results, BMO Capital analyst Brian Pitz reiterated a buy rating on GOOGL stock with a price target of $222. (See ServiceNow Stock Charts on TipRanks)Travel + LeisureThis week's third stock is Travel + Leisure (TNL), a membership and leisure travel company.

Persons: Brian Pitz, Pitz, TipRanks, ServiceNow, Goldman Sachs, Kash Rangan, ServiceNow's, Ivan Feinseth, Feinseth, TNL Organizations: Wall Street, BMO Capital, BMO, YouTube, Tigress, Sports Illustrated Resorts Locations: TipRanks

☆ Home flipping and BRRRR are back: Interest rate cuts are set to fuel a resurgence in the real-estate investing strategies, says BiggerPockets' housing-market guru
▼ + stars: | 2024-08-04 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

Read previewHome flipping and the BRRRR method have been in the doghouse among much of the real-estate investing community over the last couple of years. As the Federal Reserve jacked up interest rates and home prices cooled off, warnings about the viability of these strategies abounded. But now, the popular strategies are due for a resurgence, according to Dave Meyer, BiggerPockets' housing market expert. Related storiesOne piece of evidence for this is that home flipping profits have generally been on the rise since the start of 2023 and jumped significantly in Q1 2024, according to real-estate data firm ATTOM. Further, he argues, the housing market is not as volatile as the stock market, and it's rare to see forced selling on a grand scale, he said.

Persons: —, Dave Meyer, BiggerPockets, Meyer, he's bullish, there's, it's, Skylar Olsen, she's Organizations: Service, Federal Reserve, Business, ATTOM, Labor

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Amazon, Intel, Morgan Stanley, Square, Coinbase, Lululemon and more
▼ + stars: | 2024-08-02 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Wells Fargo downgrades Morgan Stanley to underweight from equal weight Wells Fargo downgraded Morgan Stanley and said the "upward premium re-rating seems over." Morgan Stanley initiates Lionsgate Studios at overweight Morgan Stanley said it's bullish on shares of the movie studio company. Morgan Stanley reiterates Tesla as a top pick Morgan Stanley said it's standing by the stock following an analysis of July auto sales. Morgan Stanley upgrades Mobileye to equal weight from underweight Morgan Stanley said the risk/reward is more balanced for the auto supply tech company. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's sticking with its overweight rating on the AI chipmaker.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Apple, Q, Gildan, Wells, downgrades Morgan Stanley, it's, TD, TD Cowen, Cowen, Raymond James downgrades Crocs, Raymond James, CROX, Oppenheimer, Tesla, Rosenblatt, Lululemon, LULU, K's Organizations: TEAM, Apple Intelligence, Barclays, Deutsche Bank, Amazon, Big Cap Tech, Stifel, Bank of American, Bank of America, Lionsgate, Lionsgate Studios, Intel, of America, TD Cowen, Dynamics, U.S, EV, 7M, UBS downgrades, UBS, Nvidia Locations: California, USA

☆ Chevron CEO Mike Wirth on Q2 results: Our growth remains on track
▼ + stars: | 2024-08-02 | 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 EmailChevron CEO Mike Wirth on Q2 results: Our growth remains on trackChevron chairman and CEO Mike Wirth joins 'Squawk Box' to discuss the company's quarterly earnings results, growth and production outlook, state of the Hess deal, moving headquarters from California to Texas, and more.

Persons: Mike Wirth, Hess Organizations: Chevron Locations: California, Texas

☆ Exxon Mobil CEO Darren Woods on Q2 results: Reflects our work over the last 7 years
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil CEO Darren Woods on Q2 results: Reflects our work over the last 7 yearsExxon Mobil chairman and CEO Darren Woods joins 'Squawk Box' to discuss the company's quarterly earnings results, growth outlook, state of arbitration with Hess, energy policy, and more.

Persons: Darren Woods, Hess Organizations: Exxon Mobil

☆ Roblox CEO on Q2 results: Biggest record quarter we've ever seen
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRoblox CEO on Q2 results: Biggest record quarter we've ever seenRoblox CEO Dave Baszucki joins 'Squawk Box' to discuss the company's quarterly earnings results.

Persons: Dave Baszucki

☆ Intel having worst day since 1974
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIntel having worst day since 1974CNBC's Jon Fortt joins 'The Exchange' to discuss Intel's stock drop due to weaker-than-expected Q2 earnings and revenue.

Persons: Jon Fortt Organizations: Intel

☆ Boeing says it'll lose at least $125 million more as its Starliner aircraft remains stuck in space with no return date
▼ + stars: | 2024-08-02 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +1 min

The Boeing Starliner's return to Earth is delayed indefinitely, adding $125 million in losses. NASA astronauts have been stuck on the ISS for 57 days due to issues with its propulsion system. AdvertisementAs the Boeing Starliner's return to Earth is delayed indefinitely, the aerospace company expects to lose $125 million more. NASA astronauts Suni Williams and Butch Wilmore reached the International Space Station (ISS) via the Starliner on June 6, and were supposed to stay in space for eight days. However, due to thruster issues and helium leaks on the spaceship, they have been stuck there for 57 days and counting, with their return delayed indefinitely.

Persons: —, Suni Williams, Butch Wilmore Organizations: Boeing, NASA, Service, Space, Business

☆ 'Baby Reindeer' Lawsuit: Why Netflix's 'True Story' Dramas Are Getting Them Sued
▼ + stars: | 2024-08-02 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +12 min

To many, "Baby Reindeer" is known as the Netflix series that swept the internet in the spring of 2024 with its harrowing, seemingly true tale based on creator Richard Gadd's experience of being stalked. Richard Gadd as Donny Dunn and Jessica Gunning as Martha Scott in "Baby Reindeer." The drama over "Baby Reindeer," which has been both a boon and a threat to the streamer, reflects a larger reckoning for prestige TV's favorite pastime: adapting true stories. Atsushi Nishijima/Netflix Show less "Baby Reindeer." Harvey's lawyer Roth doesn't think Netflix particularly cared about the risk of legal action when it greenlit "Baby Reindeer."

Persons: Richard Gadd's, Fiona Harvey, Gadd, Donny, he'd, Martha Scott, Martha, Richard Gadd, Donny Dunn, Jessica Gunning, Ed Miller, Piers Morgan, Harvey, Rachel DeLoache Williams, Anna Delvey, Anna Sorokin, Anna, Linda Fairstein, Ava DuVernay, Fairstein, Felicity Huffman, Katie Lowes, Rachel, Julia Garner, Laverne Cox, Duke, Alexis Floyd, Neff, Aaron Epstein, Buster Murdaugh, Alex Murdaugh, Kelly's, Kelly, Richard Roth, Joan of Arc, Victoria Price, Judge Horton, Ruby Bates, Bates, Michael, Bette, Joan ", Olivia de Havilland, we're, they're, Macbeth, Atsushi Nishijima, Griselda Blanco's, Griselda, Harvey's, Roth, There's, Jeff Lewis, there's, Lewis, Netflix hasn't, Jackie Ward, Ward Organizations: Netflix, Business, Former New York, Neff Dav, Lifetime, Hollywood, NBC, Scottsboro, Disney Locations: Scottish, England, California, Former New York City, Tennessee, New York, Los Angeles

☆ Coterra's strong energy production allowed for big cash returns to shareholders
▼ + stars: | 2024-08-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +6 min

CTRA YTD mountain Coterra Energy YTD The results were released after Thursday's close. Bottom line In addition to the strong production and strict capital expenditures discipline, management raised their production outlook and discretionary cash flow target for the remainder of the year. Coterra Energy Why we own it: Formed by the merger of Cabot Oil & Gas and Cimarex, Coterra Energy is an exploration-and-production company with a high-quality, diversified asset portfolio. It's committed to returning 50% or greater of annual free cash flow to shareholders. Under management's stated commitment to returning 50% or more of annual free cash flow via dividends and buybacks, Coterra has returned this year 103% of free cash flow to shareholders.

Persons: It's, Coterra, management's, Tom Jorden, Marcellus, Jim Cramer's, Jim Cramer, Jim, Pavlo Gonchar Organizations: Coterra Energy, LSEG, Cabot Oil & Gas, EQT Corp, Devon Energy, Oil, CNBC, Energy Inc, Getty Locations: Houston

☆ Booking Holdings CEO on Q2 results: Very happy with things overall
▼ + stars: | 2024-08-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBooking Holdings CEO on Q2 results: Very happy with things overallBooking Holdings CEO Glenn Fogel joins 'Squawk Box' to discuss the company's quarterly earnings results, state of travel demand, long-term growth outlook, impact of AI, and more.

Persons: Glenn Fogel Organizations: Booking, Holdings

☆ Intel plunges 30%, most since 1982, after announcing layoffs and weak guidance
▼ + stars: | 2024-08-02 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Intel's stock plunged as much as 30% on Friday, its biggest daily decline since at least 1982. The dip comes after the company announced plans to lay off 15,000 workers. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIntel's stock took a big hit after the company issued disappointing guidance and announced sweeping layoffs in its most recent earnings report. Shares plunged as much as 30% on Friday, its biggest single-day drop since at least 1982, according to Bloomberg data.

Persons: —, Pat Gelsinger, ASML, Gelsinger Organizations: Service, Bloomberg, Intel, Nikkei, Nvidia Locations: Tokyo, Japan, Netherlands

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