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☆ Wise's billionaire CEO fined £350,000 by UK regulators over failure to report tax issue
  + stars: | 2024-10-28 | by ( Ryan Browne | ) www.cnbc.com   time to read: +4 min
In this article WISE-GB Follow your favorite stocks CREATE FREE ACCOUNTKristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | Sportsfile | Getty ImagesLONDON — Kristo Käärmann, the billionaire CEO of money transfer firm Wise , was slapped with a £350,000 ($454 million) fine by financial regulators in the U.K for failing to report an issue with his tax filings. "We continue to build a product and a company that will serve our customers and owners for the decades to come," Käärmann added. The chair of Wise, David Wells, said that the company's board of directors "continues to take Wise's regulatory obligations very seriously." In a note Monday, analysts at British investment bank Peel Hunt boosted their expectations for Wise's full-year profit before tax by 15%.
Persons: Kaarmann, Wise, Eoin Noonan, Sportsfile, Käärmann, Taavet Hinrikus, Forbes, Therese Chambers, David Wells, Peel Hunt, Gautam Pillai, Barun Singh Organizations: WISE, Getty, Financial, Authority, FCA, Customs, Peel Locations: Estonian
☆ China's industrial profits plunge at fastest pace since the pandemic
  + stars: | 2024-10-28 | by ( Anniek Bao | In | ) www.cnbc.com   time to read: +2 min
China's industrial profits in September dropped at its fastest pace since the pandemic, data from the National Bureau of Statistics showed, as the country tussles with an economy plagued by slow growth, lack of demand and a property crisis. After a 17.8% fall in August, industrial profits declined 27.1% in September from a year ago, marking the steepest plunge since March 2020, when it dropped by 34.9%, according to data kept by Wind Information. In the first nine months, industrial profits fell by 3.5% from a year ago. NBS statistician Yu Weining said "insufficient demand and a sharp decline in producer prices" weighed down the profitability of industrial firms. Gary Ng, senior economist at Natixis, said in an email to CNBC that "the weakness of industrial profits indicates China's greater need for demand-side policies."
Persons: Goldman Sachs, Hui Shan, Yu Weining, Gary Ng Organizations: National Bureau, Statistics, Information, People's, CNBC, Reuters, PMI Locations: Jiangxi Province, Shanghai, China, Beijing
☆ NASA chief and Democratic lawmakers urge investigation into reports of Musk-Putin conversations
  + stars: | 2024-10-27 | by ( Erin Snodgrass | Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +6 min
The Wall Street Journal reported that Elon Musk and Vladimir Putin have shared secret calls since 2022. A former DoD analyst said that a relationship like this could pose national security concerns. Because of his work with the federal government via SpaceX, Musk holds a security clearance that gives him access to some classified information. "The security clearance adjudication process looks at several factors, and undue foreign influence is just one of those factors," Stransky, now a partner at Thompson Hine law firm, said. The existence of an ongoing Musk-Putin relationship would be further complicated by the billionaire tech leader's recent foray into US politics.
Persons: Elon Musk, Vladimir Putin, —, Bill Nelson, Musk, Putin, Nelson, Semafor, Adam Smith, aren't, Sen, Jeanne Shaheen, Smith, Shaheen, Dmitry Peskov, Steven Stransky, Thompson, Stansky, Robert English, Xi, Trump, he's, Tesla Organizations: Street Journal, Washington, Service, Democratic, SpaceX, Business, NASA, Department of Defense, House Armed Services Committee, Politico, Defense Department, New, New Hampshire Democrat, Senate Foreign Relations, Senate Armed Services Committee, DoD, National Reconnaissance Office, astronautics, Pentagon, Department of Homeland Security, National Security Council, Central, University of Southern, Trump Locations: New Hampshire, University of Southern California, Taiwan
☆ 14 earnings reports and major economic data will be the stock market movers this week
  + stars: | 2024-10-27 | by ( Zev Fima | ) www.cnbc.com   time to read: +15 min
The Street is looking for Stanley Black & Decker sales of $3.8 billion in the third quarter and earnings per share (EPS) of $1.05. The Street is looking for Linde sales of $8.35 billion in the third quarter and EPS of $3.89. In addition to the headline results and forward guidance, overall organic sales growth and data center energy power demand will be focus items for investors. The Street is looking for sales of $94.47 billion in its fiscal fourth quarter and EPS of $1.55. The Street is looking for Coterra sales of $1.3 billion in the third quarter and EPS of 34 cents.
Persons: That's, It's, Stanley Black, Decker, we're, We're, Eli Lilly, Lilly, Amy Hood's, Brian Niccol, Wednesday's, Linde, it's, we'll, Phillips, Horton, Kraft Heinz, SIRI, Estee Lauder, BUD, Cardinal Health, Jim Cramer's, Jim Cramer, Jim, Stephanie Keith Organizations: Nasdaq, Dow, Fed, PCE, YouTube, Justice, AMD, GE Healthcare, Reality Labs, Microsoft, Management, Starbucks, U.S, Presidential, Linde, Apple Intelligence, Amazon, Services, Coterra Energy, WM, Cadence Design Systems, Labor, PayPal, BP, Pfizer, Royal Caribbean Cruises, JetBlue, HSBC, Devices, Grill, Electronic Arts, EA, Gross, Caterpillar, Brinker International, AFortive Corporation, Illinois Tool, Coinbase, eBay, EBAY, Booking Holdings, MGM Resorts, MGM, Bausch Health, LIN, Merck, ConocoPhillips, Mastercard, Altria, Cruise, Myers Squibb, Comcast, Mobileye, Cheniere Energy, Regeneron Pharmaceuticals, Anheuser, Busch InBev, Intel, United States Steel, Juniper Networks, Chevron, Exxon Mobil, Dominion Energy, Charter Communications, LyondellBasell Industries, Cardinal, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Eaton, Corning, Illinois, Bristol, New York City
☆ The world's most accurate economist predicts the election outcome and its potential shock impact on the 10-year Treasury
  + stars: | 2024-10-26 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +6 min
Right now, he has his sights set on the US election, with its high stakes and wide range of economic possibilities. AdvertisementThe third scenario is a Trump win with a Republican sweep, which Barraud believes is the most likely outcome. In the short term, it would have a positive impact on US economic growth, creating a GDP boost in 2025 between 2.1% and 2.3%, he said. If Harris wins with a dividend Congress, yields could drop further from where they are, he said. This time, election forecasting includes monitoring multiple poll-betting markets with the highest volume of users to gauge election outcomes.
Persons: Christophe Barraud, —, Barraud, Kamala Harris, Donald Trump, Trump, there's, Harris Organizations: Service, Bloomberg, Market Securities Monaco, Trump, Republican Locations: Washington
☆ How activist Starboard may help boost value in Kenvue's skin and beauty business
  + stars: | 2024-10-26 | by ( Kenneth Squire | ) www.cnbc.com   time to read: +8 min
The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. Self Care product categories include pain care; cough cold allergy; and "other self care." The Skin Health and Beauty segment's product categories include face and body care and hair, sun and others. Skin Health and Beauty has been proven to be a marketing business whose growth can be greatly aided by social media. Kenvue has a solid business with iconic brands and one underperforming segment in Skin Health and Beauty.
Persons: Russell, Johnson, Kenvue, Michael CeraVe, Ken Squire Organizations: Skin, Health, Self, pharma, Colgate, Palmolive, Haleon, Kenvue, Essential Health, L'Oreal, Beauty, Skin Health, Management, 13D Locations: North America, Asia, Europe, Middle East, Africa, America, CY19, CeraVe
☆ Putin once asked Elon Musk to not activate Starlink over Taiwan as a favor to Xi Jinping: report
  + stars: | 2024-10-25 | by ( Matthew Loh | ) www.businessinsider.com   time to read: +6 min
Vladimir Putin asked Elon Musk to withhold Starlink from Taiwan as a favor to China, per The Wall Street Journal. Musk has been in regular contact with Putin since 2022, the Journal reported, citing officials. AdvertisementRussian leader Vladimir Putin once asked Elon Musk to withhold Starlink access from Taiwan as a favor to China's Xi Jinping, The Wall Street Journal reported. AdvertisementThe Journal reported that in late 2023, Musk received his first request from the Kremlin to refrain from activating Starlink over Taiwan. Musk, SpaceX, the Pentagon, and NASA also did not respond to similar comment requests.
Persons: Vladimir Putin, Elon Musk, Musk, Putin, —, Xi, Defense Department —, Ian Bremmer, Per Bremmer, Dmitry Peskov, Peskov, Musk's, Donald Trump, Karoline Leavitt, there's, it's President Trump, Leavitt, Trump Organizations: Street, Service, Street Journal, SpaceX, Pentagon, NASA, The New York Times, Defense Department, Business, New York Times, Eurasia Group, Kremlin, Putin, Trump, it's, Republican Locations: Starlink, Taiwan, China, Moscow, Beijing, Europe, Russia, Russian, Washington, Ukraine, Crimea
☆ Does height matter in football? Yes, but not in the way you might think
  + stars: | 2024-10-25 | by ( Liam Tharme | ) www.nytimes.com   time to read: +11 min
GO DEEPER Short centre-backs: How much does size matter in the Premier League? The decline of the small midfielder has been a league-wide trend in the Premier League in the last four years. Last season, the taller trend stopped, City’s minutes to smaller players went up and taller players back down. GO DEEPER Short centre-backs: How much does size matter in the Premier League? That tends to suit taller players, or short(er) ones who have exceptional speed, positioning and decision-making.
Persons: d’Or, Lionel Messi, Lionel Messi’s, Rich Storry, Bayer, Germain, Costel, Antonio Conte, Stefano Piolo, taka, StatsBomb, Rico Lewis, Pep Guardiola, Shaun Botterill, Guardiola, Lewis, Erling Haaland’s, Phil Foden, Bernardo Silva, Arsenal’s, David Raya, Emmanuele, Mikel Arteta, ” Arteta, Napoleon, William Saliba's, Mikel Arteta's, That's, ike Organizations: Ballon, University of Wolverhampton, Inter Milan, Bayer Leverkusen, Manchester City, Paris Saint, Leverkusen, Serie, Inter, Premier League 183.3 Manchester City, Ligue, PSG, La Liga 181.8 Real Madrid 181.3, Bundesliga, Premier League, La Liga, A, Romania, AC Milan, Spanish, Premier League ? Football, ”, Arsenal, Bournemouth, Premier League’s, Getty, 😬# Locations: U.S, England’s, Paris, Real Madrid, Germany, Spain, La, Manchester, David
☆ Asia-Pacific markets mixed ahead of Japan elections; Tokyo inflation slows
  + stars: | 2024-10-25 | by ( Lim Hui Jie | ) www.cnbc.com   time to read: 1 min
Asia-Pacific markets were mixed on Friday, with investors awaiting Japan's general election over the weekend. Japan also released its October inflation numbers for the capital city of Tokyo on Friday, its last key economic data before the election. Tokyo's inflation is widely considered a leading indicator of nationwide trends. The city's headline inflation rate fell to 1.8% in October from 2.2% the month before, with core inflation — which strips out prices of fresh food — also coming in at 1.8%, down from 2%. Economists polled by Reuters had forecast the core inflation rate in Tokyo to slow to 1.7% in October.
Persons: Japan's Organizations: Reuters Locations: Asia, Pacific, Japan, Tokyo
☆ Stocks making the biggest moves midday: Tapestry, Capri, L3Harris Technologies and more
  + stars: | 2024-10-25 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com   time to read: +3 min
The sharp moves come after a judge ruled in favor of the Federal Trade Commission's case to block Tapestry's acquisition of Capri . L3Harris Technologies — Shares rose 3.5% after the defense company reported a top- and bottom-line beat in the third quarter. Western Digital posted adjusted earnings of $1.78 per share, versus consensus forecasts for $1.72 per share, according to LSEG. Adjusted earnings before interest, taxes, depreciation, and amortization of $3.27 billion was just slightly short of consensus calls for $3.28 billion. In the fiscal second quarter, Booz Allen Hamilton reported adjusted earnings of $1.81 per share on $3.15 billion in revenue.
Persons: L3Harris, FactSet, ResMed, Booz Allen Hamilton, —, Alex Harring, Lisa Kailai Han, Sean Conlon Organizations: Tapestry, Federal Trade, Capri, FactSet, Colgate, Palmolive, Western Digital, Digital Realty Trust, Management, HCA, HCA Healthcare, Booz
☆ Tesla shares jump on profit beat, Elon Musk's prediction of at least 20% 'vehicle growth' next year
  + stars: | 2024-10-24 | by ( Lora Kolodny | ) www.nbcnews.com   time to read: +6 min
Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. Earlier this month, Tesla reported third-quarter vehicle deliveries of 462,890. While deliveries increased 6% from a year earlier, they fell shy of analysts’ expectations and followed two straight quarters of year-over-year declines. “Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024,” the company said in its earnings deck Wednesday.
Persons: Tesla, Elon Musk, FactSet, Musk, ” Tesla, “, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn’t Organizations: Revenue, Energy, that’s, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Texas, California, Bay, U.S, China, Harrisburg , Pennsylvania
☆ Conflicting economic signals are causing confusion in the bond market
  + stars: | 2024-10-24 | by ( ) www.cnbc.com   time to read: +5 min
Bond market investors are having trouble figuring out an economy that looks good from 30,000 feet, but less so closer to the ground. Whether it's payrolls, gross domestic product or retail sales, or a host of other measures, growth looks solid, at the very least. On Wall Street, the general view was of concern: The Beige Book "showed no material improvement in a generally bleak outlook," Citigroup economist Andrew Hollenhorst wrote. However, if growth deteriorates, as the Beige Book indicates it has, that likely would push the Fed towards more reductions. "Despite recent stronger-than-expected data on U.S. employment, retail sales, and consumer inflation, the Fed's latest Beige Book signals a still weakening economy."
Persons: it's, Goldman Sachs, Donald Trump, Goldman, Andrew Hollenhorst, Kathy Bostjancic, Peter Boockvar, Jerome Powell, Nicholas Colas Organizations: Treasury, Federal Reserve, Atlanta Fed, Fed, Citigroup, Nationwide, Bleakley Financial, DataTrek
☆ CNBC Sport: Adam Silver speaks exclusively, and TKO makes a big bet
  + stars: | 2024-10-24 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com   time to read: +21 min
☆ Exclusive: Maven Clinic is swapping out its finance chiefs as the women's health unicorn looks ahead to an IPO
  + stars: | 2024-10-24 | by ( Rebecca Torrence | ) www.businessinsider.com   time to read: +3 min
Maven's chief financial officer has left the women's health unicorn one year after taking the role. AdvertisementMaven Clinic is swapping out its chief financial officers on the heels of a fresh funding round as the women's health startup inches closer to an IPO. Related storiesAs the highest-valued women's health startup, Maven is expected to be a candidate for the next wave of digital health IPOs. The startup's hopeful future exit would be a boon for the women's health market, which remains a small fraction of all healthcare funding. Wrapbook raised a $20 million funding round in September at a valuation of $750 million.
Persons: Maven, —, Kristina Campbell, isn't, Campbell didn't, haven't, Campbell, Wrapbook Organizations: Service, StepStone Group, Business, Sequoia Capital, Catalyst, Lux Capital, Oak HC, SEC
☆ Another European Central Bank member says a jumbo cut is on the table
  + stars: | 2024-10-24 | by ( Matt Clinch Sam Meredith | Matt Clinch | Sam Meredith | ) www.cnbc.com   time to read: +2 min
Mārtiņš Kazāks, governor of the Bank of Latvia and a member of the European Central Bank's Governing Council, on Thursday weighed in on the possibility of a jumbo half-point interest rate cut for December. When asked for his views on a 50-basis rate cut by the ECB at its next meeting, he said that "everything should be on the table." "But we will have that discussion in December," he told CNBC's Karen Tso at the IMF's annual meetings in Washington, D.C. Thursday. His comments come after the ECB delivered a back-to-back interest rate cut for the first time in 13 years at its October meeting. It also comes a day after Portuguese central bank chief Mario Centeno made similar comments.
Persons: Mārtiņš Kazāks, CNBC's Karen Tso, —, Mario Centeno, Centeno Organizations: Bank of, European Central Bank's Governing, ECB, CNBC Locations: Bank of Latvia, Washington ,, Portuguese
☆ Top 45 MLB free agents for 2024-25 with contract predictions, team fits: Will Soto get $600M+?
  + stars: | 2024-10-24 | by ( Jim Bowden | ) www.nytimes.com   time to read: +48 min
MLB free agency is almost here so it’s time for my annual ranking of the top free agents with contract predictions and the best team fits for each player. Best team fits: Dodgers, Yankees, Mets, Diamondbacks, Red SoxSalary comps: NoneContract prediction: Minor-league contract4. Several teams have early interest in Walker, with the Astros and Mariners being the best early team fits. Best team fits: Padres, Rangers, Dodgers, Orioles, Guardians, MetsSalary comps: N/AContract prediction: None at this time19. Best team fits: Yankees, Mariners, Diamondbacks, BrewersSalary comps: Anthony Rizzo (2 years, $40M); Josh Bell (2 years, $33M)Contract prediction: 1 year, $15 million42.
Persons: Juan Soto, Corbin Burnes, Blake Snell, Max Fried, Roki Sasaki, Pete Alonso, Anthony Santander, Christian Walker, Alex Bregman, I’ve, He’s, Aaron Judge, Bobby Witt Jr, Soto, Mike Trout, Mookie Betts, Cy Young, Burnes, Stephen Strasburg, Jacob deGrom, Aaron Nola, Roki, Sasaki, he’s, Gerrit Cole, Cole, Cole won’t, Will, Brett Davis, They’ll, Carlos Rodón, Patrick Corbin, Tyler Glasnow, Pete, Matt Olson, Nolan Arenado, Kris Bryant, Carlos Correa, George Springer, Matt Chapman, Nolan Arenado’s, Dana Brown, Xander Bogaerts, Snell, —, José Berríos, Sonny Gray, Freddy Peralta, Peralta, Anthony, Shohei Ohtani, Tommy Gilligan, Brandon Nimmo, Willy Adames, Corey Seager, Andrew Friedman, Adames, Dansby Swanson, Javier Báez, Trevor Story, Marcell Ozuna, Ozuna, Walker, Paul Goldschmidt, Anthony Rizzo, Cody Bellinger, Cody Bellinger didn’t, Bellinger, Nick Castellanos, Kyle Schwarber, Shane Bieber, Tommy John, Bieber, Sean Manaea, Brad Penner, Manaea, Hyun Jin Ryu, Eduardo Rodriguez, Chris Bassitt, Miles Mikolas, Jack Flaherty, Flaherty, NL Cy Young, Lance McCullers Jr, Mitch Keller, Pablo López, Kyle Hendricks, Tomoyuki Sugano, Sugano, Michael Wacha, Jameson Taillon, Jon Gray, Nathan Eovaldi, Seth Lugo, Teoscar Hernández, Jayne Kamin, Teoscar, Hernández, Starling Marte, Jorge Soler, Walker Buehler, Buehler, Tanner Scott, Raisel Iglesias, Robert Suarez, Jurickson, Profar, Mitch Haniger, Lourdes Gurriel Jr, Michael Conforto, Eugenio Suárez, Suárez, Chris Taylor, Max Muncy, Jordan Montgomery, Wasserman, Ken Kendrick, Montgomery doesn’t, Seong Kim, Mike Shildt, Kim, J.P, Crawford, Jeff McNeil, Nico Hoerner, Orlando Arcia, Gleyber Torres, Torres, Tyler O’Neill, Bob DeChiara, Cody Bellinger —, O’Neill, Andrew Benintendi, Ian Happ, Yusei Kikuchi, Kikuchi, Tyler Anderson, Brandon Lowe, Lowe, Brandon Drury, Jorge Polanco, Nick Martinez, Martinez, Charlie Morton, Frankie Montas, Joc Pederson, Rhys Hoskins, Mitch Garver, Justin Turner, Charlie Blackmon, Carlos Estévez, Gregory Fisher, Estévez, Dave Dombrowski, Jeff Hoffman, Kendall Graveman, José Alvarado, Joe Jiménez, Ryan Pressly, Taylor Rogers, Luis Severino, Zach Eflin, Lucas Gioloto, Marcus Stroman, Reynaldo López, Jose Quintana, Tyler Mahle, Blake Treinen, Emilio Pagán, Wandy Peralta, Alex Verdugo, Mark Canha, Manuel Margot, Hunter Renfroe, Jose Iglesias, Chris Sale, Iglesias, Isiah Kiner, Miguel Rojas, Goldschmidt, Josh Bell, Hoskins, Hoffman, Matt Strahm, Chris Martin, Matthew Boyd, Boyd, Lance Lynn, Kyle Gibson, Clay Holmes, Luke Weaver, Dan Goldfarb, Mary DeCicco, Daniel Shirey Organizations: MLB, eventual, The Athletic, Baseball, OF, Boras, Yankees, American League, New York, Blue Jays, Dodgers, Phillies, Rangers, Nationals, Mets, Orioles, Red Sox, Chiba Lotte Marines, NPB, Diamondbacks, Angels, Kansas City, Braves, FIP, Star, Mariners, Astros, Giants, Rockies, Cardinals, Cy Young, Brewers, Milwaukee, Anthony Santander, RF, Santander, Reds, Adames, Rays, Cubs, Pirates, Cy, Guardians, Padres, Tigers, NL Cy, Twins, Yomiuri Giants, of Famers, Royals, Excel, Marlins, NL, The Diamondbacks, Montgomery, Sox, Tampa Bay, White Sox, Atlanta, Talent Sports, Apex, Athletics, Getty Locations: Bronx, Japan, New York, Houston, Walker, Seattle, Bledsoe, Tampa, Philadelphia, Fiume
☆ Stocks making the biggest moves premarket: Tesla, UPS, Lam Research, IBM and more
  + stars: | 2024-10-24 | by ( Sean Conlon | ) www.cnbc.com   time to read: +5 min
For the period, UPS earned $1.76 per share on $22.25 billion in revenue, above the LSEG consensus estimates of $1.63 per share and $22.14 billion. The company posted earnings of 86 cents per share on revenue of $4.16 billion, above the consensus estimate of 80 cents per share and revenue of $4.05 billion, per LSEG. Newmont – The stock fell more than 4% after the company posted weaker-than-expected earnings for the third quarter. Newmont posted earnings of 81 cents per share, excluding items, on revenue of $4.61 billion. Whirlpool posted earnings of $3.43 per share, more than the $3.20 per share expected by analysts polled by FactSet.
Persons: Elon Musk, Transocean, Newmont, FactSet, Boeing machinists, Molina, Robert Isom, —, Alex Harring, Sarah Min, Michelle Fox Theobald Organizations: United Parcel Service, UPS, Lam Research, Bloomberg, Bloomberg News, Mobile, Boeing –, Boeing, Mattel, Wall Street, Honeywell, Northrop Grumman –, LSEG, Southwest Airlines, Revenue, Molina Healthcare, IBM, Whirlpool, FactSet . American Airlines, American Airlines
☆ Boeing said it's lost another $250 million on the Starliner project
  + stars: | 2024-10-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com   time to read: +4 min
Boeing has recorded another $250 million loss on its Starliner program. Boeing has lost $1.85 billion on the Starliner program to date. AdvertisementAerospace manufacturer Boeing said on Wednesday that it was incurring an additional $250 million charge against earnings on its beleaguered Starliner program. This is in addition to the $125 million charge against earnings Boeing recorded in the second quarter of this year. Boeing has lost $1.85 billion on the Starliner program to date.
Persons: Kelly Ortberg, —, Starliner, Butch Wilmore, Suni Williams, Wilmore, Williams, Ortberg, Boeing's Organizations: Boeing, New, Service, Aerospace, Space, NASA, SpaceX, SEC, Ortberg, Business Insider, Max, Airlines, Wednesday Locations: New Mexico, Oregon, California
☆ Stocks making the biggest moves midday: Tesla, IBM, Whirlpool, Molina Healthcare and more
  + stars: | 2024-10-24 | by ( Lisa Kailai Han | ) www.cnbc.com   time to read: +5 min
Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Therefore, the company's third-quarter revenue and guidance were not comparable with Wall Street's estimates. ServiceNow posted third-quarter adjusted earnings of $3.72 per share, topping Wall Street's estimate of $3.46 per share, according to LSEG. International Business Machines — Shares tumbled about 7% after the tech giant posted third-quarter revenue that disappointed analysts' expectations. Sales for IBM came out to $14.97 billion in the last quarter, versus the $15.07 billion analysts had expected, per FactSet.
Persons: Tesla, Elon, Newmont, FactSet, Molina, CBRE, Raymond James Financial, Teradyne, Northrop Grumman, ServiceNow, Boeing machinists, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: —, Molina Healthcare, Whirlpool, LSEG . West Pharmaceutical, West Pharmaceutical Services, injectables, Carrier, Northrop, Mattel, LSEG, Boeing, IBM Locations: —, FactSet
☆ This AI play has bottomed and is breaking out, according to options trader Zhang. How to play it
  + stars: | 2024-10-23 | by ( Tony Zhang | ) www.cnbc.com   time to read: +3 min
As industries increasingly rely on real-time AI models, Akamai's infrastructure offers both speed and enhanced security by processing data closer to users. This technological edge, combined with the company's attractive valuation, offers substantial upside potential, with recent market activity reflecting growing investor interest in its AI-driven growth opportunities. AKAM has formed a classic bottoming pattern over the past few months and is now breaking above a major resistance level at $102.50. AI models distributed on Akamai's extensive edge computing network provide significant upside potential, especially as demand for low-latency AI solutions increases across various industries. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.
Persons: AKAM, Zhang Organizations: Akamai Technologies, CNBC, NBC UNIVERSAL Locations: AKAM
☆ Tesla shares jump on profit beat, Musk's prediction of at least 20% 'vehicle growth' next year
  + stars: | 2024-10-23 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com   time to read: +6 min
Net income rose to about $2.17 billion, or 62 cents a share, from $1.85 billion, or 53 cents a share, a year ago. Profit margins were bolstered by $739 million in automotive regulatory credit revenue during the quarter. Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. "Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024," the company said in its earnings deck Wednesday.
Persons: Elon Musk, Tesla, FactSet, Musk, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn't Organizations: LSEG, Energy, that's, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Los Angeles , California, U.S, Texas, California, Bay, China, Harrisburg , Pennsylvania
☆ IBM stock slips on disappointing consulting and infrastructure revenue
  + stars: | 2024-10-23 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
In the third quarter, IBM generated $6.52 billion in revenue from software. Revenue from Red Hat, a 2019 acquisition, grew 14%, compared with 7% in the second quarter. The company's infrastructure segment had $3.04 billion in revenue, down 7% and beneath StreetAccount's $3.24 billion consensus. IBM now has a generative artificial intelligence book of business exceeding $3 billion, up more than $1 billion in the second quarter. During the quarter, IBM said it would expand its network of Oracle product consultants and buy Oracle services company Accelalpha.
Persons: Jim Kavanaugh, Arvind Krishna, Kavanaugh, CNBC's Seema Mody, Mody, Krishna Organizations: IBM, Prudential, Revenue, StreetAccount, Red, Software, Oracle, Palo Alto Networks, Software AG Locations: StreetAccount .
☆ Global public debt will hit $100 trillion by year-end, says IMF
  + stars: | 2024-10-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com   time to read: +2 min
Global public debt will rise above $100 trillion by the end of 2024, the agency projected in its annual Fiscal Monitor report. By the end of the decade, the IMF forecasts global public debt will reach 100% of world GDP. The U.S. and China account for a significant share of rising public debt levels. If the two countries were excluded from calculations, the global public debt to GDP ratio would fall around 20%, the IMF said. Unsustainable debt levels place countries' markets at risk of a sudden sell-off if investors view a country's fiscal health as too poor.
Persons: Vitor Gaspar, shutdowns, spending's Organizations: International Monetary Fund, Monetary Fund, Global, U.S . Treasury Department Locations: Washington , DC, U.S, China, Saharan Africa
☆ Senate candidate Tim Sheehy’s firm promised jobs and more to a Montana county. It’s still waiting.
  + stars: | 2024-10-22 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Gretchen Morgenson | ) www.nbcnews.com   time to read: +13 min
And if the worst were to happen and Bridger defaulted on the debt, Gallatin County wouldn’t be on the hook. The second item that wasn’t publicly discussed involved collateral damage to Gallatin County if Bridger’s bonds, known as conduits, went bad. Neither did former commissioner Skinner, whom NBC News called to talk about his vote on the Bridger bond. “Gallatin County should expect that Bridger will not cover any of the costs to unwind this transaction,” he said. At the 2020 meeting about the bond issue, Sean Bowen, a deputy county attorney, was asked whether the county was comfortable approving it.
Persons: Tim Sheehy, Bridger, Gallatin, ”, Joe Skinner, Sheehy vies, Sheehy, Donald Trump, Democratic Sen, Jon Tester, Blackstone, Louise Johns, Justin Marlowe, ” Marlowe, ” Sheehy, didn’t, Sam Davis, Bridger’s, Nathan Bilyeu, wasn’t, Marlowe, ‘, ’ ”, “, Zach Brown, ” Brown, Bilyeu, Skinner, Brown, it’s, Sean Bowen, Bowen, hadn’t Organizations: Bridger Aerospace Group, Navy SEAL, U.S . Senate, Democratic, New, Blackstone Group, Republican, Bridger Aerospace, Bloomberg, Getty, University of Chicago Harris School of Public Policy, Municipal Finance, National Interagency Fire Center, Pilatus, Bridger, wasn’t, University of Chicago, Poor’s, NBC Locations: Montana, it’s, Gallatin County, Bozeman, U.S, Washington, Gallatin, New York City, Bridger, Mont, Helena, Chicago, Bolingbrook, ”
☆ Tudor Jones is long gold and bitcoin as hedge fund titan believes 'all roads lead to inflation'
  + stars: | 2024-10-22 | by ( Sarah Min | ) www.cnbc.com   time to read: +2 min
"I think all roads lead to inflation," Jones told CNBC's "Squawk Box" on Tuesday. "I'm long gold. I'm long bitcoin. I think commodities are so ridiculously underowned, so I'm long commodities. @GC.1 YTD mountain Gold, YTD The CBO expects deficits will hit $2.8 trillion by 2034, up from $1.8 trillion in fiscal 2024.
Persons: Paul Tudor Jones, Jones, CNBC's, That's, Robin Hood, Donald Trump, Bitcoin Organizations: Trump, Nasdaq, Tudor Investment, Robin, Robin Hood Foundation, Congressional, Treasury, Federal, Metrics Locations: U.S
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