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☆ HSBC: the Malaysian Ringgit is boosted by central bank policy and 'promising' structural reform
▼ + stars: | 2024-09-30 | 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 EmailHSBC: the Malaysian Ringgit is boosted by central bank policy and 'promising' structural reformYun Liu of HSBC says Malaysia's economic growth is 'on fire at all fronts', and discusses strength of the ringgit and increasing amount of Chinese investments into the country specifically related to green transition.

Persons: Yun Liu Organizations: HSBC Locations: Malaysian

☆ How Warren Buffett decides when to sell a stock, and why he might be dumping Bank of America
▼ + stars: | 2024-09-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

When Warren Buffett, the ultimate buy-and-hold investor, sells a stock, it often sends a negative signal about the underlying business and maybe even the entire industry. "We're more reluctant to sell them than most people," Buffett said of his large positions at Berkshire's annual meeting in 2009. Bank of America sales Many top holdings in Berkshire Hathaway's equity portfolio are decades old — Buffett has held Coca-Cola shares since 1988 and American Express since 1991. Buffett said bank failures in 2008 during the Global Financial Crisis , and again in 2023, lessened confidence in the system, made worse by poor messaging by regulators and politicians. At the time, Buffett foresaw more bank failures down the road , but stuck with his Bank of America investment, partly because he personally negotiated the original deal and admired CEO Brian Moynihan.

Persons: Warren Buffett, Buffett, — Buffett, Goldman Sachs, Wells, BofA, digitalization, fintech, It's, Brian Moynihan Organizations: Herald, Buffalo News, Bank of America, American Express, Oracle, JPMorgan, U.S . Bancorp ., Silicon Valley Bank, First, Signature Bank Locations: Omaha, Berkshire, BofA, Wells Fargo, U.S, U.S . Bancorp . Berkshire, Bank, Silicon, First Republic, saviors

☆ Stocks making the biggest moves premarket: Bristol-Myers Squibb, Costco, Super Micro Computer and more
▼ + stars: | 2024-09-27 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Costco Wholesale — The membership-only retailer saw shares dip about 1% after the company missed expectations for fiscal fourth-quarter revenue. Super Micro Computer — Shares of the artificial intelligence beneficiary slipped 2%, adding to their 12% loss in the previous session. The Wall Street Journal reported that the U.S. Justice Department had opened a probe on the company. Dollar General — Shares fell 2% after Citi downgraded Dollar General to sell from neutral, saying Walmart 's increasing dominance in retail, especially on pricing, has the dollar store "on the wrong side." HP Inc. — The tech hardware stock fell about 2% after a downgrade to neutral from buy at Bank of America.

Persons: Myers Squibb, Costco, Hindenburg, Morgan Stanley, —, KeyBanc, — CNBC's Hakyung Kim, Lisa Kailai Han, Yun Li, Sarah Min, Jesse Pound, Samantha Subin, Michelle Fox Organizations: Myers, U.S . Food, Drug Administration, Novo Nordisk —, JPMorgan, Costco Wholesale, Revenue, Street Journal, U.S . Justice Department, U.S . Securities, Exchange Commission, Wynn Resorts, Citi, Walmart, HP Inc, Bank of America, HP Locations: Bristol, U.S, Novo Nordisk — U.S, Danish

☆ Stocks making the biggest moves midday: Wynn Resorts, Rocket Lab USA, Cassava Sciences and more
▼ + stars: | 2024-09-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

That came after short-seller Hindenburg Research revealed last month it had taken a short position in the company, citing "fresh evidence of accounting manipulation." Cassava Sciences — The biotech company fell 11% after agreeing to pay $40 million to settle a case with the Securities and Exchange Commission. Wynn Resorts — The stock rose about 6% thanks to an upgrade to overweight from equal weight at Morgan Stanley. Amgen — The biotech's shares rose 2% after Cantor Fitzgerald initiated research coverage with an overweight rating. — The aerospace and defense stock added 16% following a price target increase from KeyBanc Capital Markets, which retained an overweight investment rating.

Persons: Bristol Myers, Hindenburg, Morgan Stanley, Amgen, Cantor Fitzgerald, Olivia Brayer, Michael Leshock, — CNBC's Sean Conlon, Alex Harring, Yun Li, Hakyung Kim, Samantha Subin, Pia Singh Organizations: Bristol Myers Squibb, Food and Drug Administration, Bristol, Nordisk —, JPMorgan, Wall, Costco Wholesale, Revenue, Wall Street Journal, Justice Department, Hindenburg Research, Securities and Exchange Commission, Wynn Resorts, UAE, HP Inc, Bank of America, KeyBanc Locations: Nordisk — U.S, Danish, Las Vegas

☆ David Tepper says the Fed has to cut rates at least two or three more times to keep credibility
▼ + stars: | 2024-09-26 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Appaloosa Management's David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility. "Probably two or three interest rates, 25 basis point cuts, they have to do, or they lose credibility," Tepper said. You know, another 25, 25, 25 seems like it's going to have to be done." The super-sized rate cut last week came despite most economic indicators looking fairly solid. "It was around the 90s in that market where the where the Fed cut rates into Y2K in a good economy," he said.

Persons: David Tepper, Tepper, " Powell, Jerome Powell, Rich, " Tepper Organizations: Federal Reserve, Gross, Atlanta Fed, U.S, National Football League's Carolina Panthers Locations: U.S, China

☆ Stocks making the biggest moves midday: Micron Technology, Super Micro Computer, Southwest Airlines and more
▼ + stars: | 2024-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Southwest Airlines — The airline jumped 11% after it raised its third-quarter revenue forecast and authorized $2.5 billion in share buybacks. Starbucks — The coffee chain rose nearly 2% after Bernstein upgraded shares to outperform , citing confidence in the company's new CEO . CarMax — The used car retailer jumped nearly 6% after topping sales estimates for the fiscal second quarter. New York Community Bank — Shares of the regional lender jumped nearly 8% after Barclays upgraded the stock to overweight from equal weight. Accenture — The professional services stock rose nearly 5% on better-than-expected fiscal fourth quarter results.

Persons: Bernstein, Jabil, Goldman Sachs, Goldman, Morgan Stanley, Erik Woodring, —, Jesse Pound, Yun Li, Alex Harring, Pia Singh, Hakyung Kim Organizations: Micron Technology, Applied Materials, ASML, Lam Research, Wall Street Journal, Justice Department, Southwest Airlines —, Elliott Investment Management, Starbucks, NRG Energy, GE Healthcare —, UBS, Jefferies, New York Community Bank, Barclays, Bilibili, Accenture Locations: China, Bilibili —

☆ Stocks making the biggest moves midday: Flutter Entertainment, Hewlett Packard Enterprise and more
▼ + stars: | 2024-09-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. KB Home reported $2.04 in earnings per share, or 2 cents short of consensus estimates, according to analysts surveyed by LSEG. Analysts had expected $1.14 in earnings per share on revenue of $176.2 million, according to FactSet. The workplace uniform company sees revenue of $10.22 billion to $10.32 billion for fiscal 2025, compared to its prior guidance of $10.16 billion to $10.31 billion.

Persons: HPE, Morgan Stanley downgrades, Adam Jonas, Ford, Bilibili, Warren Buffett's Berkshire Hathaway, Cintas, — CNBC's Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han, Pia Singh Organizations: Hewlett Packard Enterprise, Barclays, Juniper Networks, General Motors, Ford —, JPMorgan, . Bank of America, LSEG, Trump Media & Technology Locations: Bilibili —

☆ Nvidia shares pop as CEO may be done selling shares after hitting preset plan limit
▼ + stars: | 2024-09-24 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Nvidia CEO Jensen Huang is done selling the chipmaker's stock for the time being, cashing in more than $700 million under a prearranged plan. The 61-year-old executive in mid-March adopted a trading plan for the sale of up to six million Nvidia shares by the end of the first quarter of 2025. Huang has hit that threshold months ahead of schedule after a flurry of transactions between June 13 and Sept. 12, according to a new regulatory filing. Even though the sales were made under a 10b5-1 plan, which allows insiders to sell shares under a preplanned structure, Nvidia shares seemed to get a boost from the update Tuesday, trading more than 4% higher.

Persons: Jensen Huang, Huang Organizations: Nvidia

☆ Value investor Bill Nygren looking outside of crowded megacap tech, adds cheap financial stock
▼ + stars: | 2024-09-23 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Longtime value investor Bill Nygren warned that the popular benchmark S & P 500 is not as diversified as it used to be, and he is picking cheap stocks outside the dominant tech sector. Nygren, portfolio manager at Oakmark Funds for 40 years, said the technology sector has grown so powerful in the S & P 500 that the 25 or so largest names make up about half the investment. "It's not nearly as diversified as investors think it is. I think we will see investors revisit the idea of the S & P 500 being kind of the low-risk way to invest in equities," Nygren said on CNBC's " Money Movers " on Monday. "It's become so important to us that we invest with companies that are taking matters into their own hands and using excess capital to repurchase their own stock," Nygren said.

Persons: Bill Nygren, It's, Nygren Organizations: Oakmark Funds, Nvidia, Meta, AIG

☆ A new ETF uses AI to emulate Warren Buffett's investment style
▼ + stars: | 2024-09-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Investment startup Intelligent Alpha is working on launching the Intelligent Omaha ETF , with the ticker AIWB, that relies on AI to emulate the Berkshire Hathaway CEO's investment philosophy and create a portfolio of 25-30 stocks that it thinks Buffett might buy. It remains to be seen how deeply AI could understand Buffett's unique investing style that has evolved significantly over seven decades. All about AI Intelligent Alpha has been testing its Buffett strategy for six months and the portfolio AI puts together would overlap Berkshire's by anywhere between 30 to 60%. "The vision for Intelligent Alpha is to build the AI-powered BlackRock," Clinton said. "There are two big pillars, serving retail investors [through Registered Investment Advisors], and then there's serving institutional investors."

Persons: Warren Buffett, Buffett, Claude —, he's, Doug Clinton, Charlie Munger's, Clinton, Stanley Druckenmiller, David Tepper Organizations: Alpha, Berkshire Hathaway, Intelligent Alpha, Apple, Livermore, Nvidia, Advisors Locations: Omaha

☆ Stocks making the biggest moves midday: FedEx, Nike, Constellation Energy and more
▼ + stars: | 2024-09-20 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Constellation Energy – Shares surged more than 17% after the company announced plans to restart the Three Mile Island nuclear plant and sell that power to Microsoft to satisfy the energy needs of its data centers. ASML – The semiconductor stock slid 3.4% in the wake of a Morgan Stanley downgrade to equal weight from overweight. Morgan Stanley said the risk-to-reward ratio has been "balancing." Centessa Pharmaceuticals – The biotech stock rose more than 4% after Morgan Stanley upgraded it to overweight from equal weight. Valero Energy – The energy stock declined nearly 3% after a Piper Sandler downgrade to neutral from an overweight rating, citing "less room for outperformance."

Persons: Raj Subramaniam, Elliott Hill, John Danahoe, Eli Lilly's orforglipron, Eli Lilly, Vistra, it's, Donald Trump, Lennar, ASML, Morgan Stanley, Piper Sandler, Buddy Chester, Alex Harring, Brian Evans, Samantha Subin, Yun Li, Lisa Kailai Han, Jesse Pound, Michelle Fox Organizations: FedEx, Nike, Constellation Energy, Microsoft, Novo Nordisk –, Deutsche Bank, Corbus Pharmaceuticals, Novo Nordisk's, Viking Therapeutics, Vision, Trump Media & Technology, Pharmaceuticals, Valero Energy Locations: Novo, Texas

☆ CNBC Daily Open: Markets seemed taken aback by the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty Images News | Getty ImagesThis 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, Getty, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

☆ CNBC Daily Open: Markets need time to digest the 50-point cut
▼ + stars: | 2024-09-19 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Anna Moneymaker | Getty ImagesThis 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. By contrast, the prevailing sentiment among experts was that a 25-point cut was more likely, according to a CNBC survey. And he was likely aware that a bigger-than-usual cut might connote that the Fed's worried about the economy. "I don't see anything in the economy right now that suggests that the likelihood of a recession, sorry, of a downturn, is elevated," Powell said.

Persons: Jerome Powell, William McChesney Martin Jr, Anna Moneymaker, Jerome Powell's, Powell, –, Jeff Cox, Yun Li, Hakyung Kim, Samantha Subin Organizations: Federal, Federal Reserve, CNBC, Dow Jones, Nasdaq Locations: Washington , DC

☆ Wells Fargo says don't buy this rally, fundamentals don't support it
▼ + stars: | 2024-09-19 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

But Wells Fargo cautioned that the pop is detached from reality. However, the benefits of easing policy may not be truly felt until next year due to the uncertainty surrounding the presidential election, Wells said. The Wall Street bank said the S & P 500 is likely to be range bound in the coming months and it is already trading toward the top of the range. Wells sees the S & P 500 finishing 2024 at 5,200, 7% below Wednesday's closing level. Its target is one of the lowest forecasts among Wall Street strategists, who on average project the benchmark ending the year at 5,571, according to CNBC Pro's market strategist survey.

Persons: Stocks, Wells Fargo, Scott Wren, Wells, Wren Organizations: Street, CNBC Locations: U.S

☆ Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria's Secret and more
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. The move is likely intended to push a decision on the politically controversial takeover past the presidential election in November. Victoria's Secret — The intimate apparel maker gained 5% after Barclays upgraded shares to equal weight from underweight, citing a more balanced risk/reward backdrop. The investment firm said VF Corp should start to see benefits from last year's CEO change this fall. Casella Waste Systems — The recycling company fell 5% after announcing a $400 million public offering of its Class A common stock.

Persons: Steward, McGrath RentCorp —, McGrath, Eli Lilly's GLP, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Yun Li, Jesse Pound, Pia Singh Organizations: NASA, United States Steel, Nippon Steel, Barclays, Medical Properties, Medical Properties Trust, WillScot Holdings, Wolfe Research, Casella Waste Systems Locations: U.S

☆ The Fed forecasts lowering rates by another half point before the year is out
▼ + stars: | 2024-09-18 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., July 31, 2024. The Federal Reserve projected lowering interest rates by another half point before the end of 2024, and the central bank has two more policy meetings to do so. Through 2025, the central bank forecasts interest rates landing at 3.4%, indicating another full percentage point in cuts. Through 2026, rates are expected to fall to 2.9% with another half-point reduction. The central bank lowered the federal funds rate to a range between 4.75%-5% on Wednesday, its first rate cut since the early days of the Covid pandemic.

Persons: Jerome Powell Organizations: Federal, Committee, Federal Reserve Locations: Washington , U.S

☆ CNBC Daily Open: Tech might not be the biggest beneficiary of rate cuts
▼ + stars: | 2024-09-17 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Gary Hershorn | Corbis News | Getty ImagesThis 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. What you need to know todayThe bottom lineTechnology stocks benefit the most from low interest rates, conventional market wisdom says. When rates are low, that proposition appears attractive because returns are low elsewhere. This implies investors have been moving out of tech to other sectors that might experience tailwinds amid lower rates.

Persons: Gary Hershorn, Goldman Sachs, Christopher Barto, It's, CNBC's Hakyung Kim, Pia Singh, Yun Li Organizations: Trade Center, Corbis, CNBC, Nvidia, Meta, U.S . Federal, VanEck Semiconductor, Nasdaq, Dow Jones, Fort Pitt Capital Locations: Manhattan, Jersey City , New Jersey

☆ Point72's Steve Cohen is stepping back from trading his own book
▼ + stars: | 2024-09-17 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Steven Cohen, founder of Point72 and majority owner of the New York Mets, attends a news conference at Citi Field, the home stadium of MLB's New York Mets, in Queens, New York, on Feb. 10, 2021. Billionaire investor Steve Cohen is retiring from the trading floor at his hedge fund Point72. The prominent hedge fund investor, who also owns the New York Mets, will continue his role as the co-chief investment officer at Point72, which Cohen converted from S.A.C. Most recently, the firm is planning to launch a separate, artificial intelligence-focused hedge fund to capitalize on the boom. Bloomberg News first reported on Cohen's move away from trading earlier Tuesday.

Persons: Steven Cohen, Steve Cohen, Cohen, Steve, he's, Point72 Organizations: New York Mets, Citi Field, MLB's New York Mets, Capital Advisors, Bloomberg Locations: MLB's, Queens , New York, S.A.C

☆ Stocks making the biggest moves midday: Gannett, Accenture, Hewlett Packard and more
▼ + stars: | 2024-09-17 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Hewlett Packard Enterprise — The tech hardware stock jumped 6% after Bank of America upgraded the stock to a buy rating from neutral. Shopify — The e-commerce stock advanced nearly 2% after receiving an upgrade to buy from neutral at Redburn Atlantic. AppLovin — The mobile software stock advanced about 6% following a UBS upgrade to buy from neutral. Gannett — Shares soared 16% after Citi upgraded the newspaper stock to a neutral rating from sell. GE Vernova — The energy stock rallied nearly 4% after Bank of America upgraded the stock to buy from neutral.

Persons: Marie Myers, Biden, Shopify, FanDuel, Michael McGovern, Andrew Obin, Philip Morris, — CNBC's Sean Conlon, Yun Li, Sarah Min, Samantha Subin Organizations: Hewlett Packard Enterprise, Bank of America, Microsoft, Intel, UBS, Gannett —, Citi, Gannett, GE, Vectura Group, Molex Asia Holdings, Vectura, Accenture —, Bloomberg Locations: U.S

☆ DoubleLine’s Gundlach says the Fed needs to cut rates quickly, sees a half-point reduction Wednesday
▼ + stars: | 2024-09-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach said Tuesday that the Federal Reserve needs to ease policy swiftly amid the current economic slowdown, seeing a half-point interest-rate reduction this week. A quarter-point rate cut had been the consensus as recently as a week ago. But the 2-year Treasury yield was last at around 3.59%. The size of the Fed's first rate cut in years has been a point of debate on Wall Street. On the one hand, a rate cut could help boost earnings growth for companies following a period of high borrowing costs and stubborn inflation.

Persons: Jeffrey Gundlach, Gundlach, CNBC's Scott Wapner Organizations: DoubleLine, Federal Reserve, Treasury Locations: Huntington Beach , California, United States

☆ Goldman Sachs sees S&P 500 at 6,000 in 12 months, gives basket to play lower rates
▼ + stars: | 2024-09-16 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The Wall Street investment bank sees the S & P 500 rising about 6% to 6,000 in the next 12 months from Friday's close of 5,626.02. "Resilient economic growth should lead to modestly higher bond yields while continued earnings growth drives modestly higher equity prices," David Kostin, Goldman's head of U.S. equity, said in a note to clients on Friday. Wall Street is counting on lower corporate and consumer borrowing costs to boost earnings growth and stock prices. With multiples flat, EPS growth will lead the S & P 500 modestly higher." Goldman believes stocks with a "long duration" could outperform in a falling interest rate environment.

Persons: Goldman Sachs, Goldman, David Kostin, Kostin, Russell, Goldman's Organizations: Federal Reserve, Electric, Rivian Automotive, Lucid, Costco Wholesale Locations: U.S, Friday's

☆ Stocks making the biggest moves midday: Nuvalent, Alcoa, Sprouts Farmers Market, Apple and more
▼ + stars: | 2024-09-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Upstart Holdings – Shares of the personal finance firm fell 5% after the announcement of a new debt offering. Sprouts Farmers Market – Shares of the supermarket chain rose nearly 5% following an upgrade to outperform from in line at Evercore ISI. The investment firm wrote that Sprouts, which specializes in organic products, could be a beneficiary of a trend towards healthier eating. Apple – Shares slumped 3% following reports of sluggish demand for some of the company's latest iPhone models. Yelp – Shares dropped 4% after Bank of America initiated coverage of Yelp with an underperform rating.

Persons: Nuvalent, Bausch, Goldman Sachs, Morgan Stanley, Donald Trump, Ming, Chi Kuo, —, Alex Harring, Samantha Subin, Yun Li, Lisa Kailai Han, Pia Singh, Jesse Pound Organizations: Financial Times, FT, Alcoa, Intel –, Bloomberg, Intel, Pentagon, Micron Technology, Evercore ISI, Trump Media & Technology, Apple –, TF Securities, Apple, JPMorgan, Bank of America Locations: California

☆ Big stock sales from tight-lipped Berkshire Hathaway executives are saying a lot
▼ + stars: | 2024-09-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Top bosses at Berkshire Hathaway are usually tight-lipped about their market outlook, but recent investment actions from the executives are saying a lot. News broke earlier this week that Ajit Jain, the conglomerate's insurance chief for nearly 40 years, sold more than half of his Berkshire stake worth $139 million. That marked the biggest sale of Berkshire stock by the 73-year-old vice chairman of insurance operations since he was hired by Warren Buffett in 1986. He believes it would be "value-destroying" if he overpaid for Berkshire shares. But the magnitude of the sales could also suggest a bearish attitude toward the market and stock valuations.

Persons: Berkshire Hathaway, Ajit Jain, Warren Buffett, Jain, Ajit, Steve Check, Buffett, Brian Meredith, Meredith Organizations: Berkshire, Berkshire Class, Check Capital Management, Berkshire Hathaway, UBS, BNSF Railway, of America, Apple, Buffett, Bank of America Locations: Berkshire, Omaha, U.S

☆ Hedge fund billionaire and Trump donor John Paulson says market would 'crash' under Harris tax plans
▼ + stars: | 2024-09-13 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"I think if they implement those policies, we'll see a crash in the markets, no question about it." Meanwhile, Harris previously endorsed the tax increases proposed by Biden that include a 25% tax on unrealized gains for households worth at least $100 million, known as the billionaire minimum tax. However, people close to the Harris campaign, including investor Mark Cuban, have said she has no interest in taxing unrealized gains and there are doubts if any such plan could make it through Congress. The 68-year-old investor believes the economy could quickly tip into a recession as well if the specific plan to tax unrealized gains were to be implemented. The investor also said the lower taxes would spark economic gains that help raise revenues and close the deficit gap.

Persons: John Paulson, Donald Trump, Kamala Harris, Paulson, Sara Eisen, Joe Biden, Harris, Biden, Mark Cuban, …, Trump Organizations: Democratic, Trump, CNBC

☆ Stocks making the biggest moves midday: Kroger, Petco, Moderna, Roku and more
▼ + stars: | 2024-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

That builds on Wednesday's post-earnings rally of nearly 33%, which marked the stock's best day on record. Moderna — The stock plummeted nearly 16% after the drugmaker said it will cut $1.1 billion in expenses by 2027. Interpublic Group of Companies — The advertising stock was trading 2% lower following a downgrade from UBS to sell from neutral. U.S. Bancorp — The bank stock slipped nearly 2% despite announcing a dividend hike and a $5 billion share buyback plan. Oracle – Shares of the software company rose nearly 2% after Bernstein named it a top investment idea .

Persons: Kroger –, Kroger, Moderna, Adam Berlin, Bernstein, Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kailai Han, Sarah Min Organizations: Kroger, Moderna, Gilead Sciences, Alaska Air Group, Interpublic, Companies, UBS, Amazon, Pfizer, Bancorp, Diageo, Bank of America, Wolfe Research, Oracle – Locations: Gilead, Alaska, U.S

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