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☆ Dollar dips as U.S. election outcome remains uncertain, Fed rate cut looms
▼ + stars: | 2024-11-04 | by ( ) www.cnbc.com time to read: +3 min

The euro rose 0.4% to $1.0876 but faces resistance around $1.0905, while the dollar dipped 0.3% on the yen to 152.45 yen . Analysts believe Trump's policies on immigration, tax cuts and tariffs would put upward pressure on inflation, bond yields and the dollar, while Harris was seen as the continuity candidate. "A Harris win and a split Congress would likely result in 'Trump trades' quickly reversed and priced out," he added. Uncertainty over the outcome is one reason markets assume the Federal Reserve will choose to cut rates by a standard 25 basis points on Thursday, rather than repeat its outsized half-point easing. Futures imply a 99% chance of a quarter-point cut to 4.50%-4.75%, and an 83% probability of a similar-sized move in December.

Persons: Kamala Harris, Republican Donald Trump, Harris, Chris Weston, Trump, Goldman Sachs, Jan Hatzius Organizations: Democratic, Republican, Dealers, Trump, Reserve, of England, Norges Bank, Reserve Bank of Australia, Labor, China's National People's Congress, Reuters Locations: Asia, United States, Iowa, Treasuries, gilts, Beijing

☆ What Nvidia's Dow inclusion means for the chipmaker, according to history
▼ + stars: | 2024-11-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors are expecting the Dow Jones Industrial Average to get a boost from the inclusion of the biggest artificial intelligence beneficiary of the last year. The 30-stock Dow has underperformed this year and last after failing to capitalize on the artificial intelligence boom that helped bolster the comparatively tech-heavy S & P 500 and Nasdaq Composite. By comparison, the S & P 500 has surged 20% in 2024, after climbing 24% last year. Nvidia shares have gained 179% this year, and last advanced 1.8% in midday trading. Meanwhile, Intel shares have tumbled more than 55% in 2024; on Monday, it was last off by another 3.5%.

Persons: Dow Jones, CFRA Research's Angelo Zino, Dow, Nvidia doesn't, Ned Davis, Zino, bullish Organizations: Dow Jones, Dow, Nasdaq, Nvidia, Ned Davis Research, Blackwell, Intel, Amazon, Walgreens, Alliance, Walgreens Boots Alliance

☆ Palantir shares surge on rosy revenue outlook
▼ + stars: | 2024-11-04 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Palantir shares jumped 13% in extended trading on Monday after the data analytics software maker reported robust third-quarter results and revenue guidance. With respect to guidance, Palantir called for fourth-quarter revenue of $767 million to $771 million. It now sees $2.805 billion to $2.809 billion, compared with $2.742 billion to $2.750 billion in August. The company is targeting over $687 million in U.S. commercial revenue for the year, implying about 24% of the total. As of Monday's close, Palantir shares were up 141% in 2024, while the tech-heavy Nasdaq had gained 21%.

Persons: Alex Karp, Palantir, Karp, LSEG, StreetAccount, Joe Lonsdale Organizations: Palantir, Bloomberg, P Global, Nasdaq, Musk Locations: Palo Alto , California, U.S, United States, Europe

☆ Top Wall Street analysts are confident about the long-term potential of these 3 stocks
▼ + stars: | 2024-11-03 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Top Wall Street analysts closely follow the key details of a company's quarterly results. (See Fiserv Financials on TipRanks)Boot BarnWe now move to Boot Barn (BOOT), a retailer of western and work-related footwear, apparel and accessories. Despite the beat-and-raise quarter, BOOT stock plunged as investors reacted unfavorably to the company's announcement about the planned departure of CEO Jim Conroy in November. Following the print, Baird analyst Jonathan Komp upgraded his rating for Boot Barn stock to buy from hold, while maintaining the price target at $167. (See Boot Barn Stock Charts on TipRanks)Chipotle Mexican GrillFinally, let's look at this week's third stock, restaurant chain Chipotle (CMG).

Persons: Ivan Feinseth, Feinseth, TipRanks, Jim Conroy, Conroy, Baird, Jonathan Komp, Komp, Chris O'Cull, O'Cull Organizations: Manhattan , New York City . Tech, Wall Street, Tigress, FI, Ross Stores Locations: Manhattan , New York City

That’s when Election Day turns into election night, and each state starts reporting its vote totals. Virginia is an example of a state that usually has a geography-driven red mirage early on election night. Another factor that can cause vote mirages is partisan differences by vote mode — mail ballots, early in-person votes, Election Day in-person votes, and so on. This will produce a vote mirage if there are partisan differences between the earliest-returned mail ballots and the later-returned ones. As Election Day votes were reported in the next few hours of election night, the size of the blue mirage shrunk to about 3.5 points.

Persons: That’s, ”, Joe Biden, Donald Trump, Biden, Donald Trump’s, Kyrsten Sinema, Trump, Ann Arbor, Clark, Clark’s Organizations: North Carolina —, Republican, Washington , D.C, Democratic, Democrat, NBC, Trump, Biden, Senate Locations: Florida, Georgia, North Carolina, Arizona , Nevada, California, Virginia, Fairfax, Washington ,, Fairfax County, Arizona, Maricopa County, Atlanta, Pennsylvania, Democratic Philadelphia, Allegheny, Philadelphia, Michigan, Detroit, Grand Rapids, Ann, Wisconsin, Milwaukee, Nevada, Las Vegas

☆ 4 retail stocks that look good even if the holiday shopping season is soft
▼ + stars: | 2024-11-02 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

The holiday shopping season is upon us, and our retail stocks are well-positioned to thrive, according to Wall Street research firm Telsey Advisory Group. Telsey Advisory expects value-seeking to be a key theme among shoppers this year, which puts companies with reputations for good deals on solid ground. Overall, the firm expects holiday retail sales up between 3% to 3.5% this year, compared with 4.6% growth last year and a 5.4% increase in 2022. Costco has had a good year so far, and that should continue in the final months of 2024, Telsey Advisory argued. Big picture Telsey Advisory selecting these four Club stocks as preferred names this holiday season reflects their competitive chops within their respective categories.

Persons: Dana Telsey, Milton, we've, Jim Cramer's, Jim Cramer, Jim, Thomas Trutschel Organizations: Telsey Advisory, Costco, TJX Companies, Telsey, Walmart, CNBC, National Retail Federation, Hurricanes, U.S, Amazon Prime, Photothek, Getty

☆ Bill Gates is surprised more people don't ask him these 'boring' questions: They're 'more important than the GDP'
▼ + stars: | 2024-11-02 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Bill Gates is constantly asked for his thoughts on big topics like artificial intelligence, climate change and pandemics. Gates, 69, told LinkedIn co-founder Reid Hoffman during an episode of the "Possible" podcast that published on Wednesday. — even though those types of topics aren't always top of mind for most Americans. It's "one of the most important questions ever," Gates wrote, adding: "It is hard to think of a measure of how a society is doing that reveals more than whether it is protecting its children, and especially its most vulnerable children," Gates wrote. Malnutrition probably isn't a top concern for the average person living in an area that's relatively unaffected by the issue, Gates told Hoffman.

Persons: Bill Gates, Reid Hoffman, Gates, —, Hoffman, I'm Organizations: Microsoft, LinkedIn, New York Times, World Health Organization, CNBC

As the Fed lowers rates, mortgage rates are expected to go down, though next week's cut is already priced in and is unlikely to have an impact. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.50%, according to Zillow data. But now that inflation has decelerated and the Fed has started cutting rates, mortgage rates have trended down.

Persons: they've, Freddie Mac, it's, Fannie Mae Organizations: of Labor Statistics, Boeing, Federal Reserve, Zillow, Fed, Mortgage, Association, ARM, . Government Locations: U.S, Chevron, Government

☆ Stocks making the biggest moves midday: Intel, Amazon, Boeing, Chevron and more
▼ + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The company posted earnings of $1.88 per share, excluding items, on revenue of $52.28 billion. Analysts polled by FactSet called for adjusted earnings per share of $1.62 on revenue of $50.90 billion. Intel — Shares popped 9% after the chipmaker topped third-quarter earnings estimates and shared upbeat quarterly guidance. The company posted adjusted earnings of 17 cents per share on $13.28 billion in revenue. Chevron also returned a record of more than $7 billion to shareholders in the quarter through buybacks and dividends.

Persons: Health —, Cardinal, FactSet, Atlassian, Donald Trump, Ernst, Ernst & Young, Avis, —, Alex Harring, Brian Evans, Michelle Fox Theobald, Sean Conlon, Samantha Subin Organizations: Health, Boeing —, Intel, Amazon, Web Services, Apple —, Trump Media & Technology Group, Communications, Abbott Laboratories, Abbott, Ernst &, Avis Budget, LSEG, Chevron Locations: Europe, buybacks

☆ For first time in six decades, freight rails split on union negotiation strategy
▼ + stars: | 2024-11-01 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +8 min

He added, "Votes of union workers in the United States against tentative agreements tend to reflect the white-hot anger of union employees against their employers. Tentative agreements are their only chance for them to express their frustration with their employer and their anger at the way they have been treated." A BNSF spokesperson said it is planning to attend the formal national labor negotiations even as it has announced nine tentative union agreements, five of which have already been ratified. It also has tentative agreements with the International Brotherhood of Electrical Workers (IBEW), SMART-TD, SMART-TD-YDM (Yardmasters Department), the International Brotherhood of Boilermakers, and Iron Ship Builders (IBB). To date, Norfolk Southern has reached tentative agreements with 10 of its 13 unions, covering approximately 67% of its craft workforce.

Persons: Berkshire Hathaway, Jeremy Ferguson, Ferguson, Joe Biden, Richard Edelman, Mooney, Green, Murphy, Welch, Daniel Imbro, Stephen, Brotherhood of Railway Carmen, we've, Mark George, Imbro, it's Organizations: Union Pacific, CSX, BNSF, Canadian Pacific, Canadian Pacific Kansas City —, SMART, Railway Labor, National Carriers ' Conference Committee, Railroads, NSC, National Conference of Firemen, Oilers, Tran, Transportation Communications Union, TCU, Brotherhood of Railway, International Brotherhood of Electrical Workers, Yardmasters Department, International Brotherhood of Boilermakers, Iron Ship Builders, Norfolk, Norfolk Southern, National Carriers ' Locations: Southern, Berkshire, Canadian Pacific Kansas, United States, Norfolk Southern, Norfolk

☆ Jobless rate ticks higher in October for white Americans, bucking the broader trend
▼ + stars: | 2024-11-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Yuki Iwamura | Bloomberg | Getty ImagesThe unemployment rate for white Americans inched higher in October, according to data released Friday by the Department of Labor. In October, white Americans saw their jobless rate rise to 3.8% from 3.6% in the month prior. On the other hand, the jobless rates for both white men and women edged higher in October. While Hispanic women saw their jobless rate climb to 5.2% from 4.8%, unemployment rates for their male counterparts slid to 4.0% from 4.1%. The unemployment rate also ticked lower for Black women to 4.9% from 5.3%, while it climbed to 5.7% from 5.1% for Black men.

Persons: Yuki Iwamura, Heidi Shierholz, Shierholz Organizations: New York, Bronx Library Center, Bloomberg, Getty, Department of Labor, Economic Policy Institute, CNBC Locations: Bronx, New York

☆ Stocks making the biggest moves premarket: Amazon, Apple, Atlassian and more
▼ + stars: | 2024-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street's estimates. Chevron topped Wall Street's third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion.

Persons: Atlassian, FactSet, Abbott, Ernst, Young, Wall, LSEG, —, Jesse Pound, Sean Conlon, Pia Singh, Sarah Min Organizations: Amazon Web Services, Apple —, Intel —, LSEG, Abbott, Boeing —, . Avis Budget, Chevron, Exxon Mobil —, Exxon, Juniper Networks, Hewlett Packard Enterprise Locations: Europe, Missouri

☆ DJT shares implode right before the election, losing Trump $2.4 billion in net worth
▼ + stars: | 2024-11-01 | by ( Matt Egan | David Goldman | ) edition.cnn.com time to read: +3 min

CNN —Former President Donald Trump’s social media stock is plunging just ahead of the election, cutting deeply into his net worth. Truth Social owner Trump Media & Technology Group’s share price plunged another 9% on Friday after tumbling 12% Thursday and 22% Wednesday — Trump Media’s worst one-day loss since going public in March. Trump Media’s shares, which trade under the ticker “DJT,” have become a proxy for how traders think the presidential election will turn out. Trump Media did not release any major news that would explain the nosedive. The enormous gains boosted Trump Media’s value to $10.3 billion as of Tuesday’s close.

Persons: Donald Trump’s, —, Trump, Kamala Harris, ”, Steve Sosnick, ” Sosnick, George Kailas, he’s, ” Kailas, … Organizations: CNN, Truth Social, Trump Media & Technology, Trump, Trump Media’s, Interactive Brokers, Trump Media, ” Trump, Elon Musk, Similarweb, CBS, Paramount Global

☆ China is sending military gear into orbit at a 'mind-boggling' pace, says US Space Force chief
▼ + stars: | 2024-11-01 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +4 min

AdvertisementChina is developing military space gear at a "mind-boggling" pace, according to the US Space Force chief. "The number of different categories of space weapons that [China has] created and . In an interview with Politico, Saltzman added that China's progress in military space technology posed a bigger challenge than possible Russian nuclear weapons in orbit. "For the first time in decades, US leadership in space and space technology is being challenged," Meink added. As the FT notes, the US space defense capabilities are heavily reliant on private companies, such as SpaceX.

Persons: Chance Saltzman, —, Saltzman, Xi Jinping, Bill Nelson, Troy Meink, Space.com, Meink, Arthur Herman, John F, Kennedy, Ronald Reagan, we've Organizations: SpaceX, Service, US Space Force, Financial Times, Politico, NASA, UN, National Reconnaissance Office, Asia Pacific Foundation of Canada, Hudson Institute Locations: China, Colorado, Russia

☆ Sabae: The ‘eyeglasses capital’ of Japan
▼ + stars: | 2024-10-31 | by ( Milly Chan | Karla Cripps | ) edition.cnn.com time to read: +7 min

Among them is the small city of Sabae, in Fukui prefecture, about a 3.5-hour train ride from Tokyo. An eyeglasses sculpture in Sabae, Japan. Fukui prefecture has four stations on the extended Shinkansen line – Awara Onsen Station, Fukui Station, Echizen-Takefu Station and Tsuruga Station. (Travelers can hop on a separate train from Fukui Station for the 15-minute ride to Sabae.) GI15702993/iStockphoto/Getty ImagesIn addition to being home to the eyeglasses capital of Japan, Fukui prefecture is filled with well-preserved ancient architecture, historic sites and temples, as well as newer attractions, including Nishiyama Zoo, famed for its red pandas.

Persons: Buddhika Weerasinghe, Sabae, Takeshi Yamae, “, ”, Futa Nagao, Takeshi, Sabae’s, It’s, There’s, sakura, Soto, you’re Organizations: CNN, CNN —, Bloomberg, Getty, Boston Club, Sabae’s Megane, Asahi Shimbun, Fukui, Takefu, Tsuruga, Nishiyama Zoo, Fukui Prefectural Dinosaur Museum, Soto Zen, Food, Museum Locations: Sabae, Fukui prefecture, Tokyo, Japan, Honshu, Fukui, Japan’s Hokuriku, Toyama, Niigata, Ishikawa, Kyoto, Echizen, Maruoka, Tojinbo, Mikata, Wakasa, Tsuruga

☆ We're hiking our price target on an industrial whose earnings benefit from AI data center boom
▼ + stars: | 2024-10-31 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Electrical components and power systems company Eaton delivered mixed third-quarter results Thursday morning, and its stock paid the price. Eaton management raised its full-year guidance for both operating margin and earnings per share (EPS). However, we're increasing our price target to $375 per share from $350, implying over 9% upside from Wednesday's close. 2025 outlook Looking to next year, management didn't provide formal sales or earnings guidance, but they did provide growth assumptions for the company's key end markets. Industrial facilities (12% of sales), defense aerospace (6% of sales), and commercial and institutional (20% of sales) are expected to realize "modest growth."

Persons: Eaton, it's, we've, Oliveri Leonetti, Parker, wouldn't, Craig Arnold, Jefferies, Jim Cramer's, Jim Cramer, Jim Organizations: Revenue, LSEG, Boeing, Electrical, Aerospace, Hannifin, DuPont, Honeywell, CNBC, Eaton Corporation, NYSE Locations: Florida, Eaton, Americas, North America

☆ California could soon have nation’s highest minimum wage if voters approve
▼ + stars: | 2024-10-31 | by ( Tami Luhby | ) edition.cnn.com time to read: +5 min

CNN —California voters will decide this election whether to increase the state’s minimum wage to $18 an hour, which would be the highest in the US. Currently, the Golden State’s minimum wage is $16 and is set to rise to $16.50 next year. California has been among the more aggressive states when it comes to hiking the minimum wage. Some 44% of likely California voters said they would vote yes in an October poll conducted by the Public Policy Institute of California, down from 50% in September. Jerry Brown, gradually raised the minimum wage, giving employers the opportunity to adjust, Condie said.

Persons: Joe Sanberg, ” Sanberg, “, Enrique Lopezlira, ” Lopezlira, ” Jennifer Barrera, Jot Condie, ”, Jerry Brown, Condie Organizations: CNN, Public, Institute of California, Institute for Research, Labor, Employment, University of California, MIT, California Chamber of Commerce, Golden State, California Restaurant, Democratic Gov Locations: California, Berkeley, Golden

☆ Stocks making the biggest moves after hours: Amazon, Apple, Intel and more
▼ + stars: | 2024-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Amazon — The e-commerce giant popped 4.7% after beating earnings expectations on both lines in the third quarter. Amazon reported $1.43 earned per share on revenue of $158.88 billion, while analysts polled by LSEG expected $1.14 and $157.2 billion, respectively. For the period, Intel posted revenue of $13.28 billion, while analysts surveyed by LSEG were expecting $13.02 billion. Apple — Shares slid 1.8% despite earnings and revenue topping Wall Street expectations for the fourth fiscal quarter. Analysts polled by StreetAccount expected a profit of 64 cents per share on revenue of $1.16 billion.

Persons: LSEG, Avis, —, Atlassian, StreetAccount, — CNBC's Sean Conlon Organizations: Amazon, Intel –, Intel, Apple, Avis Budget, FactSet

☆ Oil giant Shell posts $6 billion profit beat, launches new share buyback program
▼ + stars: | 2024-10-31 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024. British oil giant Shell on Thursday posted a small year-on-year drop in third-quarter profit as a sharp decline in crude prices and lower refining margins were partially offset by higher gas sales. The energy company reported adjusted earnings of $6 billion for the July-September period, beating analyst expectations of $5.3 billion, according to estimates compiled by LSEG. Shell posted adjusted earnings of $6.3 billion in the second quarter and $6.2 billion in the third quarter of 2023. It marks the 12th consecutive quarter that Shell has announced at least $3 billion in buybacks, Sinead Gorman, chief financial officer at Shell, said in a video presentation.

Persons: Shell, Sinead Gorman, Gorman Organizations: LSEG, Shell Locations: Radstock, Somerset, England, buybacks, London

☆ We're buying this stock for the second time this week, taking advantage post-earnings selling
▼ + stars: | 2024-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Following Thursday's trade, Jim Cramer's Charitable Trust will own 525 shares of DHR, increasing its weighting to 3.67% from 3.5%. With expectations more reasonable, Danaher is in a better position to beat next year, which should lead to a higher stock price. Our Club price target on Danaher is $305 per share, a tad higher than Wolfe's, and it implies 26% upside to Wednesday's close. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Danaher, Wolfe, Jim Cramer, Jim Organizations: DHR, Wolfe Research, CNBC Locations: Danaher

☆ Switzerland is now flirting with deflation, causing a dilemma for its central bank
▼ + stars: | 2024-10-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Urbazon | Istock | Getty ImagesSwitzerland could be at risk of slipping into deflationary territory next year, as a stronger Swiss franc beleaguers policymakers' efforts to get a handle on price growth. The central bank also revised down its forecasts, putting the average annual inflation rate for 2024 at 1.2% from 1.3%, while projecting price increases will grow by 0.6% in 2025, compared with a previous outlook of 1.1%. Foreign exchange (FX) interventions take place when a bank buys or sells its currency in the FX market to raise or lower its value against another currency. Swiss inflation has meanwhile continued to fall. In March, with inflation at 1.2%, the SNB become the first major Western central bank to cut interest rates.

Persons: Thomas Jordan, Adrian Prettejohn, Sophie Altermatt, Julius Baer, Prettejohn, Jordan Organizations: Istock, Getty, Swiss National Bank, Capital, Capital Economics, CNBC, FX Locations: Bern, Switzerland, Adrian Prettejohn Europe, Europe

☆ Millions of Movers Reveal American Polarization in Action
▼ + stars: | 2024-10-30 | by ( Ronda Kaysen | Ethan Singer | ) www.nytimes.com time to read: +15 min

Mr. Troyer, the Republican, moved to a more Republican neighborhood. Mr. Biden won Georgia in 2020, the first time a Democrat won the state since 1992. Over the same span, at least 10,000 more Republicans than Democrats moved out of the state — a third of them to Florida. In Pennsylvania, this year’s key battleground, Democratic gains actually came amid population loss: For both parties, more voters moved out than in. He says he feels more comfortable in his home in southwest Charlotte, in a precinct Mr. Biden carried by 46 points.

Persons: Joshua Fisher, Ryan Troyer, Fisher, Troyer, Donald J, Trump, Biden, uproot, Mr, —, Ben Brewer, don’t, “, ”, James Gimpel, Nobody, ‘ Gee, ’, Amanda Kathleen Greene, “ It’s, Erin Thompson, Caitlin O'Hara, Andrew Clohessey, He’d, ” Naomi Hattaway, Audra Melton, Naomi Hattaway, Robert LaRoche, that’s Organizations: Voters, Republican, Democrat, New York Times, Democrats, Republicans, Mr, —, Democratic, Georgia, Michigan — Democrats, The New York Times, University of Maryland Locations: Sioux Falls, S.D, Charlotte, N.C.Biden, Otsego, Minn.Trump, Georgia, Florida, In Arizona, California, Arizona, — Pennsylvania, Wisconsin, Michigan, Pennsylvania, Texas , Arizona, Nevada, Minnesota, Minneapolis, N.C, South Dakota, Seattle, Gilbert, Phoenix, Cedar Falls , Iowa, Atlanta, Omaha, Las Vegas, Spring Hill, Fla, Tampa

☆ Eli Lilly stock tumbles 10% after drug giant misses estimates and slashes profit guidance
▼ + stars: | 2024-10-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Wednesday fell short of profit and revenue expectations for the third quarter, weighed down by disappointing sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro, and slashed its full-year adjusted profit guidance. Eli Lilly now expects full-year adjusted earnings of between $13.02 and $13.52 per share, down from previous guidance of $16.10 to $16.60 per share. Eli Lilly also lowered the high-end of its revenue outlook for the year and now expects sales of between $45.4 billion and $46 billion. The weekly injection raked in $1.26 billion in sales for the period, below the $1.76 billion that analysts expected, according to StreetAccount. As of Wednesday, the Food and Drug Administration's drug database said all doses of Zepbound and Mounjaro are available in the U.S. after extended shortages.

Persons: Eli Lilly, Mounjaro, Eli Lilly's Organizations: Novo Nordisk, LSEG, Food Locations: U.S

☆ Reddit's bet on AI is starting to pay off
▼ + stars: | 2024-10-30 | by ( Huileng Tan | Aditi Bharade | ) www.businessinsider.com time to read: +4 min

The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3. Reddit's third-quarter revenue soared 68% to $348.4 million from a year ago, comfortably beating analysts' expectations of $312.8 million. This positive net increase was consistent with its second-quarter results, during which the platform saw a 51% increase in daily active users globally. Elon Musk's X reported 1.6% growth in daily active users in 2024's second quarter, per the FT. The daily active users on all of Meta's platforms combined, which include Facebook, Instagram, and Threads, increased by 7%, according to its second-quarter earnings report.

Persons: —, Steve Huffman, Huffman, Reddit, AMAs, Elon Musk's, Jefferies, RDDT Organizations: Service, Analysts, Global, Elon, Facebook, New York Stock Exchange Locations: Spanish

☆ Arizona is the epicenter of the debate over how Trump's mass deportation plan would hit the economy
▼ + stars: | 2024-10-30 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +12 min

Donald Trump proposed mass deportation to lower housing costs and boost job opportunities. AdvertisementThe mass deportation of people living in the US illegally has been one of the cornerstones of the Republican presidential ticket leading up to the November election. Many Democrats say mass deportations would hurt businesses and employment opportunities for all Americans, in addition to separating families and displacing millions of people. She told BI that a mass deportation would devastate the agriculture, construction, and hospitality industries. AdvertisementHow much a mass deportation would cost the governmentThe Trump campaign has talked little about how mass deportations could be implemented and on what scale.

Persons: Donald Trump, —, Trump, Kamala Harris, Biden, Harris, Douglas Nicholls, Nicholls, Regina Romero, Romero, " Romero, Duncan Braid, Braid, Davis, Chloe East, Taylor Rogers, Trump's, Rogers, hasn't, Marcus Noland Organizations: Service, Republican, Pew Research Center, Business, Pew Research, Trump, Immigration, Customs, American Compass, University of California, Brookings Institution, ICE, New York Times, American Immigration, Taxation, Economic, Manhattan Institute, FEMA, RNC, Peterson Institute for International Economics, American Immigration Council, Peterson Institute Locations: Los Angeles, Springfield, Aurora, Ohio, Colorado, Arizona, Yuma , Arizona, Mexico, Yuma, Tucson, Reading , Pennsylvania, US, Aurora , Colorado

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