DIRS.INFO The most relevant business & tech news

☆ 2024 WNBA season: A historic year for women’s basketball, both on and off the court
▼ + stars: | 2024-10-24 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +12 min

CNN —With confetti falling from the rafters, a boisterous Brooklyn crowd bellowing and the victorious New York Liberty celebrating, the curtain fell on the 2024 WNBA season. ‘The perfect storm’The latest edition of the WNBA season had all the hallmarks for booming success, with all the pieces falling into place almost serendipitously. The Fever superstar also set rookie season records for both points and three-pointers made and became the first rookie to get a triple-double. Las Vegas Aces star A'ja Wilson was named WNBA MVP for the third time following the 2024 season. It’s super exciting and kind of crazy to say that.”The New York Liberty beat the Minnesota Lynx to win the 2024 WNBA Finals at Barclays Center.

Persons: LaChina Robinson, Caitlin Clark, Angel Reese, it’s, ’ ” Robinson, Robinson, –, agonizingly, Liberty –, Sarah Stier, ” Robinson, “ I’m, “, Chelsea Gray, Charisma Osborne, ” Osborne, They’ve, Clark, Reese, A’ja Wilson, Darron Cummings, Osborne, “ It’s, UConn’s irrepressibly, Paige Bueckers, Wilson, “ We’ve, ”, A'ja Wilson, Kirby Lee, they’ve, Maya Moore, Diana Taurasi, we’ll, Wendell Cruz, Gray, I’ve Organizations: CNN, New York Liberty, WNBA, CNN Sport, Minnesota Lynx, Liberty, Barclays Center, Phoenix Mercury, Aces, ESPN, UCLA, Indiana, Chicago Sky, Sky, Las Vegas Aces, USA, Sports, Reuters, YouTube, Area Locations: Brooklyn, Nevada

☆ Barclays profit jumps 23% in third quarter, beating expectations
▼ + stars: | 2024-10-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts and was 23% higher than the same period in 2023. In the second quarter, Barclays net profit fell slightly year-on-year amid lower income at its U.K. consumer bank and corporate bank, as net profit jumped 10% at its investment bank. Corporate bank income was 1% higher due to a rise in average deposit balances, while investment banking income gained 6%. Amid declines, income at Barclays' private U.S. consumer bank dipped 2% year-on-year as its wealth management unit fell 3%.

Persons: Venkatakrishnan, we've Organizations: LONDON, Barclays, Revenue, Tesco Bank, CNBC

☆ The New York Liberty celebrated its first-ever championship and record-breaking WNBA season
▼ + stars: | 2024-10-24 | by ( Mykenna Maniece | Dan Latu | ) www.businessinsider.com time to read: +3 min

The New York Liberty defeated the Minnesota Lynx to become first-time WNBA champions. AdvertisementThe New York Liberty celebrated its WNBA championship victory with a parade through Manhattan's Financial District on Thursday in a picture-perfect conclusion to a record-shattering season. On Sunday, the Liberty defeated the Minnesota Lynx 67-62 in overtime of game five of the WNBA finals to bring home the team's first-ever championship. The Liberty broke revenue and attendance records this yearFrom the drafting of powerhouse rookies like Caitlin Clark and Angel Reese, the 2024 WNBA season was destined to be different. Viewership was up, too, with an average of 1.19 million viewers — a 170% increase from last season — making it the most-watched WNBA regular season on ESPN in history.

Persons: —, Breanna Stewart, New York —, Ja, Caitlin Clark, Angel Reese, isn't Organizations: New York Liberty, Minnesota Lynx, WNBA, Service, York Liberty, Manhattan's Financial, Liberty, New York, Associated Press, Sports, ESPN, Nielsen Locations: Lower Manhattan, New, York, Sportico

☆ Stocks making the biggest moves after hours: Dexcom, Capri, Skechers, Capital One and more
▼ + stars: | 2024-10-24 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Dexcom — Shares slid nearly 7%, despite the manufacturer of diabetes management devices posting a third-quarter adjusted earnings and revenue beat. L3Harris reported adjusted earnings of $3.34 per share on revenue of $5.29 billion, while analysts polled by LSEG had expected $3.26 per share on $5.28 billion in revenue. Boyd reported adjusted earnings of $1.52 a share, beating the consensus estimate of analysts polled by FactSet by 12 cents. In the third quarter, Capital One reported adjusted earnings of $4.51 per share on revenue of $10.01 billion. The company's provision for credit losses came in at $2.48 billion, versus the $2.83 billion estimate from analysts polled by StreetAccount.

Persons: Dexcom, LSEG, Kate Spade, Gucci, Michael Kors, Jimmy Choo, FactSet, Morgan Stanley, Skechers, Boyd, Darla Mercado, Lisa Kailai Han, Christina Cheddar Berk Organizations: Technologies, Tapestry, LSEG, Kinsale Capital, Kinsale, Joby Aviation, Allen, Co, FactSet, Boyd, Revenue, StreetAccount Locations: Kinsale

☆ 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 .

☆ Russia's frozen assets are being used by the UK for a $3 billion loan to Ukraine
▼ + stars: | 2024-10-22 | by ( ) www.businessinsider.com time to read: +2 min

The UK is using profits from Russia's frozen assets to offer a $3 billion loan to Ukraine. About $322 billion of Russian assets were frozen abroad following the invasion of Ukraine. AdvertisementThe British government is tapping Russia's frozen assets for a loan to Ukraine, with the intention of helping Kyiv secure more military and fund reconstruction costs. The loan, which amounts to £2.3 billion, or $3 billion, is being provided using profits generated from Russian assets, according to a memo on the UK government website. AdvertisementAbout $322 billion of Russian assets were frozen abroad as the West imposed sanctions to hobble the Kremlin's war machine following the invasion of Ukraine in 2022.

Persons: —, John Healey Organizations: Service, Bloomberg, UK Defence Locations: Ukraine, Kyiv, Europe

☆ Stocks making the biggest moves midday: Genuine Parts, General Motors, Verizon, Philip Morris and more
▼ + stars: | 2024-10-22 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

General Motors — The stock jumped more than 9% after the automaker posted better-than-expected third-quarter results and raised its full-year forecast. Verizon Communications — The telecommunications giant dipped 4% after posting third-quarter revenue of $33.33 billion, which came in below the $33.43 billion analysts polled by LSEG had expected. GE Aerospace reported adjusted revenue of $8.94 billion, while analysts polled by LSEG estimated $9.02 billion. Meanwhile, adjusted earnings per share of $1.15 beat consensus forecasts by just 1 cent. Philip Morris International — The tobacco company popped nearly 9% after reporting third-quarter results that beat expectations.

Persons: FactSet, General Motors, LSEG, Philip Morris, Lockheed Martin —, Lockheed Martin, Zions, Sherwin, Williams, —, Alex Harring, Samantha Subin, Lisa Kailai Han, Hakyung Kim Organizations: General, GM, Verizon Communications, GE Aerospace, LSEG, Philip Morris International, Lockheed, Citi, U.S, Global, Diagnostics, Norfolk Southern

☆ 'Flexible co-living' could help bring down office-conversion costs and add housing supply, new study says
▼ + stars: | 2024-10-22 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +5 min

A study finds that dorm-style housing could be an efficient path to convert vacant office space. The study comes as office vacancies rise and housing supply remains constrained. The report comes as companies reevaluate their need for office space in the wake of the COVID-19 pandemic. The national office vacancy rate is set to rise to around 20% by the end of this year, according to commercial real estate firm CBRE. The report comes as the number of office spaces set for residential conversions is on the rise, up to 55,000 this year.

Persons: —, Wes LeBlanc, Alex Horowitz Organizations: Service, Pew Locations: Denver, Minneapolis, Seattle

☆ Five NBA rookies to watch this season: Zach Edey, Bronny James and more
▼ + stars: | 2024-10-22 | by ( Johannes Sasay-Wada | ) edition.cnn.com time to read: +10 min

Here are five NBA rookie storylines to watch in 2024-25. Zach Edey, center, Memphis GrizzliesThe first thing you will notice about Canadian rookie Zach Edey is his formidable size, measuring in at 7-foot-4-inches and 305 pounds. Jared McCain, guard, Philadelphia 76ersOne of the highest profile rookies entering the league this season, former Duke guard Jared McCain has become a social media sensation due to his larger-than-life personality. Bronny James, guard, Los Angeles LakersBronny James comes into the NBA as one of the most scrutinized second round picks of all time. This is because his father is four-time MVP and NBA champion LeBron James, as well as the league’s all-time leading scorer.

Persons: Zach Edey, Edey, Trevor Ruszkowski, Myles Turner, Ja, Jared McCain, McCain, Bill Streicher, Duke, Tyrese Maxey, Maxey, Joel Embiid, Paul George, Rob Dillingham, Anthony Edwards, Vincent Carchietta, Dillingham, Stephon, Victor Wembanyama, Eric Gay, of Famer Chris Paul, Gregg Popovich, Paul, Pop –, Bronny James, James, LeBron James, LeBron, Bronny James dribbles, Cary Edmondson, Bronny, JJ Redick – Organizations: CNN, NBA, Summer League, Memphis Grizzlies, Purdue, UConn, Naismith, Basketball, USA, NCAA, Indiana Pacers, Grizzlies, Philadelphia 76ers, Sixers, Duke, Zion, Boston Celtics, Eastern, Minnesota Timberwolves, Wildcats, SEC, San Antonio Spurs, Team USA, Timberwolves, Dillingham, Big, Huskies, New Spurs, AP, of Famer, Spurs, Los Angeles Lakers, Bronny, University of Southern, Lakers, Golden State Warriors, Sports, Reuters, USC, Trojans, League, South Bay Lakers, LeBron Locations: TikTok, Duke, shifty, The North Carolina, Kentucky, Minnesota, Stephon, San Antonio, University of Southern California

"We find President Trump's campaign proposals would dramatically worsen Social Security's finances," the CRFB budget group said in a blog post. Social Security trust funds are set to be exhausted by Fiscal Year 2034, according to the Congressional Budget Office. "If you cut income taxes and cut payroll taxes, then you're going to have an impact on Social Security," Freese said. "I don't believe the Trump campaign is looking to undermine Social Security," said Andrew Biggs, senior fellow at the American Enterprise Institute and former principal deputy commissioner of the Social Security Administration. "And likewise, Social Security is so big, any changes to Social Security will affect other things."

Persons: Trump's, Trump, Karoline Leavitt, Leavitt, Kamala Harris, Maria Freese, Freese, Harris, Andrew Biggs, Biggs Organizations: Republican, CNBC, Social Security, Democratic, Social, Congressional, Trump, National Committee, Preserve Social Security, Medicare, American Enterprise Institute, Social Security Administration, Security Locations: Monday's

☆ A Trump presidency would drain Social Security's finances faster, budget group warns
▼ + stars: | 2024-10-21 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

Trump's proposals would dramatically worsen Social Security's finances, a nonpartisan budget group is warning. The group predicts Trump's agenda would push up Social Security insolvency by 3 years. Harris' proposals would have little impact on Social Security's insolvency timeline, the group says. AdvertisementThe Social Security and Medicare Boards of Trustees estimated that the fund would run out a year later, in 2035. President Trump delivered on his promise to protect Social Security in his first term, and President Trump will continue to strongly protect Social Security in his second term," Leavitt said in the statement.

Persons: Harris, —, Trump, Trump's, wouldn't, nominee's, that's, Karoline Leavitt, Leavitt, Kamala Harris, CRFB's, Marc Goldwein, Xers, they're Organizations: Social, Service, Federal, Social Security, Congressional, Office, Security, Trump, Republican, Business, Democratic, Washington Post

☆ Stocks making the biggest moves after hours: Nike, Zions Bancorporation, Nucor and more
▼ + stars: | 2024-10-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Zions reported earnings of $1.37 per share on $792 million in revenue, ahead of the earnings of $1.17 per share and $779 million in revenue expected by analysts polled by LSEG. Nucor — The steel production company declined about 3% despite posting adjusted earnings and revenue that topped expectations in the third quarter. Nucor said it expects a decline in GAAP earnings per share for the current period over the prior quarter. In the third quarter, Hexcel reported adjusted earnings of 47 cents per share on revenue of $456.5 million. Alexandria reported third-quarter revenue of $791.6 million and funds from operation of $2.37 per share, as adjusted.

Persons: Zions, Nucor, Hexcel, FactSet, —, Darla Mercado Organizations: Nike, NBA, WNBA, LSEG, SAP, Alexandria Real Locations: Alexandria

☆ Top crypto PAC targets close House races as 2024 election hits final stages
▼ + stars: | 2024-10-20 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

"Make Bitcoin Great Again" hats displayed for sale at the Bitcoin 2024 conference in Nashville, Tennessee, US, on Saturday, July 27, 2024. With the 2024 election hitting its homestretch, the leading pro-crypto super PAC has funneled a big chunk of its final donations to close House races as part of an effort to push candidates favorable to the group's agenda over the top. Of that sum, $20 million went to two affiliated PACs — $15 million to the Defend American Jobs PAC, a single-issue committee focused on cryptocurrency and blockchain policy that's favored Republicans, and $5 million to Protect Progress, which has only supported Democrats. Of the House donations, $6.2 million went to Democratic candidates and $2.3 million to Republicans. Crypto groups have spent over $130 million in congressional races for this year's election, including the primaries, according to FEC data.

Persons: Trump, that's, Fairshake, James Delmore, Southern California Republicans David G, Valadao, Michael Garcia, They've, Delmore, Patrick Ryan, Steven Horsford, Angela Dawn Craig, Derek Yoo, Katie Porter Organizations: US, —, American Jobs PAC, Republicans, CNBC, Southern, Southern California Republicans, Democratic, Progress, Senate, Public Citizen, SEC, Moonsong, California Senate, Fairshake's, Crypto Locations: Nashville , Tennessee, New York , Nevada, California, Southern California, Illinois , Colorado , Oregon , Iowa, Arkansas, Arizona, Michigan, Utah

☆ Here are the 5 things that could move the stock market in the week ahead
▼ + stars: | 2024-10-20 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Earnings drove the stock market higher — can they do it again in the week ahead? But he acknowledged that timing is key because our portfolio discipline mandates that we consider lightening up our stock exposure in an overbought market. In fact, AMD was our worst-performing stock for the entire week, losing more than 7% following the prior week's 1.8% slide. Energy was the worst sector of the week for the market as oil prices sank. In the week ahead, housing numbers are the main draw on the economic front.

Persons: Jim Cramer, ASML, Morgan Stanley, WTI, industrials, We're, Sartorius, Danaher, we're, Stanley Black, Lockheed Martin, Philip Morris, Clark, Baker Hughes, Lam, DOV, CARR, Davidson, Northrop, Edwards Lifesciences, Jim Cramer's, Jim, Stocks, Tuesday's, Spencer Platt Organizations: Dow, Nasdaq, Netflix, Modelo, Corona, Constellation Brands, Taiwan Semiconductor Manufacturing Company, Nvidia, AMD, Broadcom, Club, Abbott Laboratories, Energy, Texas, Honeywell, Danaher, Federal Reserve, Treasury, SAP, Logitech, Verizon, General Motors, GE Aerospace, GE, Lockheed, Quest Diagnostics, Norfolk Southern, Polaris, Seagate Technology, Texas Instruments, Canadian National Railway Company, Boeing, GE Vernova, Fisher, Boston, General Dynamics, Hilton, Lam Research, Business Machines, IBM, Newmont, Viking Therapeutics, Vista Energy, Mattel, O'Reilly Automotive, Whirlpool, American Airlines, United Parcel Service, Southwest Airlines, Tractor Supply Company, Carrier Global, Dow Chemical, DOW, Harley, Union Pacific, Valero Energy, Hasbro, Northrop Grumman, Ryder, Boyd Gaming, Western, Boston Beer Company, York Community Bancorp, Colgate, Palmolive, Newell Brands, Jim Cramer's Charitable, CNBC, NEW, Traders, New York Stock Exchange, Getty Locations: BlackRock, CrowdStrike, U.S, Dover, Freeport, McMoRan, Kimberly, Norfolk, Las, ORLY, VALE, New York City

Online content creators, they say, often fail to ensure the same basic standards for treating cast and crew that more traditional entertainment sets do. However, as digital productions grow, those who work with or under creators said some could benefit from the structure seen on traditional Hollywood sets. Unlike Hollywood sets, most digital productions do not necessarily rely on union workers. Some believe the digital entertainment space — which includes a wide range of productions, including reality and scripted content — would benefit from union oversight. “Because new [digital] media has got about 15 years, the unions have 100.

Persons: ” MrBeast, Jimmy Donaldson, “, Donaldson, Mair Mulroney, “ I’ve, ”, YouTuber Dhar Mann, Scott Brown, They’ve, ” NABET, Bernie Su, Su, Lizzie Bennet, Emma, YouTubers, ” Su, Mulroney, Dhar, Mann, there’s, ” Mulroney, Neal Mohan, Brown, don’t, they’re, ” Brown Organizations: Amazon Studios, Beast, Hollywood, “ Beast, In Hollywood, Screen, American Federation of Television, Radio Artists, International Alliance, MrBeast, SAG, National Association of Broadcast Employees, Technicians, Guild of Canada, YouTube, Guild of America, VidCon, Rodeo Locations: Las Vegas , Toronto, Panama, In, Toronto

☆ Luxury stocks may be a risky China stimulus bet
▼ + stars: | 2024-10-19 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +7 min

A post-pandemic spending surge led to luxury stocks such as LVMH to reach all-time highs in early 2023, but that soon changed. We believe improved confidence and sentiment is required to reach even our flat year-over-year Chinese luxury growth forecast for 2025," Wallace noted. Luxury stocks are feeling the pressure — year to date, U.S.-traded shares of major players LVMH and Kering are down about 17% and 41%, respectively. Analysts and investors are mixed as to whether the Chinese stimulus measures can revive luxury spending growth among consumers — and whether it will create a meaningful tailwind for luxury companies. Whether the luxury sector can continue growing at the same levels without as much Chinese consumer spending remains in question.

Persons: — stoking, Ben Harburg, Morgan Stanley, Ashley Wallace, Wallace, Jean, Jacques Guiony, Moncler, Hermes, Prada, Richemont, LVMUY CFRUY, —, Edouard Aubin, Sauron, Harburg, LVMH's Guiony, we've Organizations: Alpha, Bank of America, of America, Consumers Locations: China, Covid, 3Q24, U.S, LVMH

☆ Drone targets Israeli prime minister’s house as strikes in Gaza kill 50
▼ + stars: | 2024-10-19 | by ( ) www.cnbc.com time to read: +5 min

Sirens wailed Saturday morning in Israel, warning of incoming fire from Lebanon, including a drone launched toward Israeli Prime Minister Benjamin Netanyahu's house in Caesarea, the Israeli government said. Meanwhile, in Gaza, more than 50 people, including children, have been killed in several Israeli strikes, in less than 24 hours, according to hospital officials and an Associated Press reporter. Israel's emergency services said a 50-year-old man was killed after being hit by shrapnel while sitting in his car in northern Israel. At Al-Awda hospital in Jabaliya, in northern Gaza, strikes hit the building's top floors, injuring several staff members, the hospital said in a statement. The strikes knocked out internet networks in northern Gaza, said Paltel, the Palestinian communications company, on Facebook Saturday.

Persons: Benjamin Netanyahu, Mike Segar, Benjamin Netanyahu's, Yemen's, Hezbollah —, Iran —, Hassan Nasrallah, Israel, Bint Jbeil, Nasser Rashid, Yahya Sinwar, Iran's, Ayatollah Ali Khamenei, Khamenei, Sinwar's, Netanyahu, Sinwar, Abu Hamza, Paltel Organizations: Israel's, United Nations General Assembly, Reuters, Israel, Israeli, Associated Press, Hezbollah, Hamas, Palestinian Health Ministry, Indonesian, Aqsa Martyrs Hospital, Facebook Locations: U.N, New York, U.S, Israel, Lebanon, Caesarea, Gaza, Ben Gurion, Iran, Bint, Beirut, rearming, Beit Lahiya, Al, Jabaliya, Zawayda, Aqsa, Deir al, Palestinian

☆ Asia markets open mixed as investors await China economic data, assess Japan CPI
▼ + stars: | 2024-10-18 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

The skyline of the central business district in Beijing on August 13, 2019. (Photo by WANG Zhao / AFP)Asia-Pacific markets opened mixed Friday, as investors awaited key economic data from China and assessed Japan's inflation numbers. China's third-quarter GDP is expected to come in at 4.5%, as estimated by economists in a Reuters poll, compared with 4.7% growth in the prior quarter. China is set to release its house prices index for September at 9:30 a.m. local time. Japan's headline inflation for September came in at 2.5%, while core CPI — which excludes fresh food prices — rose 2.4% year on year compared with Reuters estimates of 2.3%.

Persons: WANG Zhao Locations: Beijing, AFP, Asia, Pacific, China

☆ Minimum wage is on the ballot in 5 states this November. Here's how the votes could go
▼ + stars: | 2024-10-18 | by ( Annie Nova | ) www.cnbc.com time to read: +6 min

"Since 2014, 12 states have passed minimum wage increases through ballot measures," Martinez Hickey told CNBC. Meanwhile, voters in Arizona will decide on a ballot measure that would lower the minimum wage for tipped workers. Here's what's at stake for workers who make the minimum wage, and the employers who pay them, in next month's election. 1 would raise the minimum wage to $13 in 2025, and to $14 in 2026. Question 5 in Massachusetts would slowly phase out its tipped minimum wage of $6.75 per hour, until it eventually matches the state's standard minimum wage by 2029.

Persons: Lucy Nicholson, Sebastian Martinez Hickey, Martinez Hickey, Here's, erick Pasquier, Joelle, Hall, Kati Capozzi, Capozzi, Richard von Glahn Organizations: California Labor, Reuters, Economic, Institute, CNBC, Alaska AFL, Alaska Chamber, Healthy Families, San Francisco, LAO, Massachusetts Institute of Technology Locations: Alaska , Missouri, California, Arizona, Alaska, United States, Bering Sea, Missouri, North America, U.S, Massachusetts Institute of Technology . Massachusetts, Massachusetts

☆ U.S. deficit tops $1.8 trillion in 2024 as interest on debt surpasses trillion-dollar mark
▼ + stars: | 2024-10-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The Biden administration rang up a budget deficit topping $1.8 trillion in fiscal 2024, up more than 8% from the previous year and the third highest on record, the Treasury Department said Friday. Even with a modest surplus in September, the shortfall totaled $1.833 trillion, $138 billion higher than a year ago. The deficit came despite record receipts of $4.9 trillion, which fell well short of outlays of $6.75 trillion. Government debt has swelled to $35.7 trillion, an increase of $2.3 trillion from the end of fiscal 2023. Interest expense for the year totaled $1.16 trillion, the first time that figure has topped the trillion-dollar level.

Organizations: Biden, Treasury Department, Social Security, Treasury, Congressional, Office

☆ Fed rate cuts can boost this trade that's a seasonal winner, Tom Lee says
▼ + stars: | 2024-10-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Tom Lee, Fundstrat's head of research, said in an Oct. 17 note to clients that the firm is opening a six-month "tactical overweight" on the homebuilding sector. The six-month timeline counts on a strong seasonal pattern where homebuilders tend to rally from late October to late April. While the reason for the historical trend is not clear, the fact that it currently coincides with a rate-cutting cycle for the Federal Reserve should lend homebuilders' stocks even more support, Lee said. "The Fed is cutting interest rates, at a time when U.S. housing has been in a recession. The sector exchange-traded funds highlighted by Lee include the iShares U.S. Home Construction ETF (ITB) , the SPDR S & P Homebuilders ETF (XHB) and the Invesco Building & Construction ETF (PKB) .

Persons: Tom Lee, Fundstrat's, Lee Organizations: Federal, Home, Construction Locations: U.S

State polling misses in presidential elections with Trump Polls underestimated Democrat Republican 2020 D+10 D+5 Even R+5 R+10 Iowa Result Poll avg. State polling misses in presidential elections Polls underestimated Democrat Republican 2012 D+10 D+5 Even R+5 R+10 S.C. One theory, presented by a report evaluating 2020 polls, is that Trump supporters were less likely to respond to surveys. Past polling misses in presidential elections for battleground states Years in bold indicate those in which the polling leader lost in that state. D+15 D+10 D+5 Even R+5 R+10 R+15 Note: Averages not available for some states in some years.

Persons: it’s, Donald J, Hillary Clinton, Joseph R, Biden, pollsters, Barack Obama, Bill Clinton, Trump, Mr, Clinton, Obama, Mitt Romney, John McCain, George W, Bush, John Kerry, Al Gore, ”, Chris Jackson, Kamala Harris, Trump’s, “, Berwood Yost, we’ve Organizations: Republican, Mr, Trump Polls, Ohio Texas, Iowa Ohio, Electoral, N.H . Iowa Nev, Nev . Ohio N.M, Nev . Ohio N.M . Iowa Wis, ., . Ohio Mo, Democratic, Ipsos, Biden, Pew Research, Wisconsin Polling, Michigan Polling, Nevada Polling, Carolina Polling, Arizona Polling, Georgia Polling, Franklin & Marshall, Poll of Pennsylvania Locations: Ohio Texas Fla, N.C ., Ariz . Wis, Pa, Nev . Mich . Wisconsin, N.C, Ariz . Fla, Wis, Pa . Mich, N.H, Minn, Nev, Colo, Fla . Ohio Va, N.H . Iowa, Mich, South Carolina, Mont, Mo, Ind, Indiana, Fla, Nev . Ohio, Nev . Ohio N.M . Iowa, Ore, Hawaii, . Ohio, N.H . Fla, Iowa Minn, Wash, Ill, Florida, pollsters, State, Wisconsin, Michigan, Pennsylvania, Nevada, Carolina, Arizona, Georgia

☆ Netflix is rolling in cash. What a turnaround!
▼ + stars: | 2024-10-17 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Netflix makes money. Netflix is actually bringing in so much money that it is turning a profit, while its competitors struggle to break even. And Netflix financed all that cash incineration by taking on many billions of dollars in debt. In 2019, Netflix had negative cash flow of $3.3 billion. That doesn't mean Netflix is going to go hog-wild on spending now that its thesis has been borne out.

Persons: —, it's, we'll, you've Organizations: Netflix, Service

☆ TSMC third-quarter profit beats expectations as AI boom drives 54% hike
▼ + stars: | 2024-10-17 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +1 min

An image of a semiconductor wafer at the Taiwan Semiconductor Manufacturing Museum of Innovation in Hsinchu, Taiwan, on Jan. 11, 2022. Taiwan Semiconductor Manufacturing Company on Thursday reported a 54% hike in net profit, as global chipmakers continue to benefit from demand boosted by AI applications. The company's net income was 352.3 billion Taiwanese dollars ($10.1 billion) over the July-September quarter, surpassing an LSEG estimate of $300.2 billion Taiwanese dollars cited by Reuters. Capital expenditure edged higher to $6.4 billion in the third quarter, versus $6.36 billion across the three preceding months. TSMC's earnings beat comes the same week as Netherlands-based ASML , which supplies machines to the Taiwanese company, issued a lower-than-expected forecast of net sales, sending shares tumbling.

Organizations: Taiwan Semiconductor Manufacturing, Innovation, Taiwan Semiconductor Manufacturing Company, Reuters, TSMC, Apple, Nvidia Locations: Hsinchu, Taiwan, Netherlands

Search resuls for: "2.3"

25 mentions found