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Pairs trading is a market-neutral trading strategy that involves simultaneously buying one asset, such as a stock, and selling another related asset. We will review a pairs trade candidate and how to execute it with options. The idea with pairs trading is that, from time to time or over time, there may be a divergence or spread in their prices. Alternatively, another form of pairs trading takes a longer-term and more fundamental perspective. Nike vs. Lululemon Well-known athletic apparel companies Nike (NKE) and Lululemon Athletica (LULU) aren't direct competitors.
Persons: Jim Simons, shorting, Lululemon Athletica, LULU, aren't, Michael Jordan, Tiger Woods, Serena Williams, Lulu, DK Metcalf, Jordan Clarkson, Leylah Fernandez, Lululemon, Lulu hedged Organizations: Ford, General Motors, Technologies, Nike, Seattle Seahawks, NBA, LULU, Lululemon, mojo, CNBC, NBC UNIVERSAL Locations: Lulu
“It’s incredible,” Payton II told NBC News. One might be Payton II, the son of longtime Seattle SuperSonics star Gary Payton, a member of the NBA’s 75th Anniversary Team. Golden State faced Los Angeles twice in the preseason, and Payton II made sure to go over to the younger James pregame to offer a few words of advice. Rarely do players with those statistics get drafted by an NBA team, but the Lakers took Bronny in the second round with the 55th overall pick. That idea of feeling undeserving is something Payton II experienced growing up.
Persons: Gary Payton II, Bronny James, , — LeBron James, ” Payton, , Payton II, Gary Payton, James, LeBron James wasn’t, Payton, Larry Nance Jr, Nance Jr, , don’t, Jett Howard, Juwan Howard, ” Howard, It’s, Martin, Star Kenyon Martin, Bronny, ” Martin, I’m, LeBron, Hey, ’ ” Nance Jr, Anthony Davis, JJ Redick, won’t Organizations: ANGELES, Golden State Warriors, Los Angeles Lakers, NBC News, Seattle SuperSonics, Golden State, Los Angeles, Sierra Canyon High School, USC, Trojans, NBA, Lakers, Atlanta Hawks, ” Orlando Magic, ” 76ers, K.J, G League, Warriors Locations: Las Vegas, Sierra, Southern California, Los Angeles
Amazon is shutting down a service that offers same-day delivery from mall and brick-and-mortar retailers, CNBC has learned. Select retail partners will be able to continue fulfilling orders with Amazon Today through Jan. 24, 2025, Amazon told CNBC. The closure of Amazon Today is the latest example of the company’s broader cost-cutting efforts. Launched in 2022, Amazon Today allows retailers who sell on Amazon to offer speedy delivery from their brick-and-mortar stores and shopping malls in select cities. Amazon Today was part of the company’s push to get online purchases to shoppers’ doorsteps at faster speeds.
Persons: Andy Jassy, Jassy, Jeff Bezos, Amazon’s, , Kate Hudson, Organizations: CNBC, Amazon, Amazon Today, Employees, Flex, , Staples Locations: Jan
Here are Evercore ISI's top chip stock picks into earnings
  + stars: | 2024-10-22 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
Evercore ISI has its eyes set on a handful of chip stocks ahead of earnings, including Nvidia and Broadcom . Chip stocks will come into focus later in the season, with artificial intelligence bellwether Nvidia slated to report on Nov. 20. Against this backdrop, Evercore ISI highlighted several stocks in the space it likes heading into their quarterly reports. The stock has gained more than 189% in 2024 and is the favorite semiconductor play over the next 12 months for investors polled by Evercore ISI in a survey. Other semiconductor stocks Evercore ISI is eyeing heading into earnings include Marvell Technology and AMD .
Organizations: ISI, Nvidia, Broadcom, Semiconductors, VanEck Semiconductor, Evercore ISI, Taiwan Semiconductor, Marvell Technology, AMD
First openly transgender lawyer to argue at Supreme Court
  + stars: | 2024-10-21 | by ( ) www.nbcnews.com   time to read: +4 min
An American Civil Liberties Union lawyer will make history in December as the first openly transgender attorney to argue before the U.S. Supreme Court, opposing Tennessee’s Republican-backed law banning gender-affirming medical care for transgender minors. The Supreme Court on Monday ordered that the argument time for the ban’s challengers be divided between the Justice Department and attorneys representing the original plaintiffs who sued the state. Several plaintiffs — including two transgender boys, a transgender girl and their parents — sued in Tennessee to defend the treatments they have said improved their happiness and wellbeing. The Supreme Court has confronted several cases in the past decade implicating LGBTQ rights. In 2020, it ruled that a landmark federal law forbidding workplace discrimination protects gay and transgender employees.
Persons: Chase Strangio, Joe Biden’s, Cecillia Wang, ” Wang, Strangio, Gavin Grimm, Chelsea Manning, , “ Tennessee, Jonathan Skrmetti Organizations: American Civil Liberties Union, U.S, Supreme, Republican, Justice Department, ACLU, HIV, Department, Circuit Locations: Strangio, Virginia, Tennessee, Constitution’s, , Cincinnati, Washington
Disney has tapped James Gorman to replace Mark Parker as the company’s next chairman, effective in January, as the media giant lays the groundwork to name a successor for CEO Bob Iger in early 2026, the company said Monday. He will continue to lead that committee after he takes over as board chairman from Nike Executive Chairman Parker. Yuki Iwamura / Bloomberg via Getty Images fileParker will step down after nine years on the Disney board “to focus on other areas” of his work, according to a Disney statement. The board fired Iger’s handpicked successor, Bob Chapek, in November 2022 after a turbulent tenure that lasted less than three years. He and the board haven’t decided if Iger will extend his board tenure past 2026, said the people familiar.
Persons: James Gorman, Mark Parker, Bob Iger, Gorman, Parker, , James Gorman’s, , ” Iger, “ I’m, ” James Gorman, Yuki Iwamura, Elliott Hill, John Donahoe, Disney, Morgan Stanley, Ted Pick, Iger’s, Bob Chapek, Iger, Jimmy Pitaro, Josh D’Amaro, Dana Walden, Alan Bergman —, Nelson Peltz Organizations: Disney, Nike, Bloomberg, Getty, CNBC, ESPN, Disney Entertainment, Iger
The U.S.-based cleric Fethullah Gulen, who built a powerful Islamic movement in Turkey and beyond but spent his later years mired in accusations of orchestrating an attempted coup against Turkish leader Reccep Tayyip Erdogan, has died. Since the failed coup, his movement has been systematically dismantled in Turkey and its influence has declined internationally. Soon after the 2016 coup, Erdogan described Gulen’s network as traitors and “like a cancer”, vowing to root them out wherever they are. The Turkish government said its actions were justified by the gravity of the threat posed to the state by the coup. Gulen had travelled to the United States for medical treatment but remained there as he faced a criminal investigation in Turkey.
Persons: Fethullah Gulen, Reccep Tayyip Erdogan, Gulen, Erdogan, , Erdogan’s Organizations: U.S, AK Party, Prosecutors, Gulen, Reuters Locations: Turkey, U.S, United States, Turkish, Erzurum, Edirne, Izmir, Turkey’s, Central Asia, Balkans, Africa, Gulen, Ankara, Pocono
Iger's CEO contract currently runs until Dec. 31, 2026. Gorman joined Disney's board earlier this year and in August was named the lead of Disney's succession planning committee, which is tasked with finding Iger's replacement. In Nelson Peltz's unsuccessful proxy fight earlier this year, the activist investor took issue with how Disney's board previously handled succession. The firm's new CEO, Ted Pick, has "reaped some of the great success of Gorman," Jim added. Morgan Stanley shares soared to all-time highs last week after it reported top and bottom-line beats for its third quarter .
Persons: Bob Iger, James Gorman, Morgan Stanley, Mark Parker, Disney, Gorman, Iger, Bob Chapek, Nelson Peltz's, Jim Cramer, Jim, Ted Pick, Gary Hershorn Organizations: Disney, Nike, Wall, DIS, Club, CNBC, Hulu, ESPN, Magic, Walt Disney World, Corbis, Getty Locations: Orlando , Florida
For some shoppers, the upcoming holiday season may lead to significant credit card debt. "Between buying gifts and booking peak-season travel, the holidays are an expensive time of year," said Sara Rathner, NerdWallet's credit cards expert. "Not only are consumers at risk of getting into credit card debt, but that debt can stick around long after the decorations come down." More from Personal Finance:2 in 5 cardholders have maxed out a credit card or come close2.5% adjustment to Social Security benefits coming in 2025'Fantastic time' to revisit bonds as interest rates fallThe stakes are higher in 2024 with credit card debt already at $1.14 trillion. The average credit card charges more than 20% — near an all-time high.
Persons: Sara Rathner Organizations: Finance, Security, National Retail Federation, Shoppers
A DJI Inspire 1 Pro drone is flown during a demonstration at the SZ DJI Technology Co. headquarters in Shenzhen, China, on Wednesday, April 20, 2016. China has unveiled a set of export control regulations for so-called dual-use items, which refer to goods or technologies that can be used for civilian as well as military purposes, ahead of President Xi Jinping's trip to Russia. The regulations come amid intensified U.S. sanctions targeting Chinese companies which the U.S. deems have been supplying dual-use goods, such as drones, to aid Russia's war effort in Ukraine. China has attempted to show that "it is following similar norms as other nations in terms of how it regulates trade in dual-use goods," he added. Alicia Garcia-Herrero, chief economist for Asia-Pacific at Natixis, however, suggested that Russia will likely be exempted from the possible export controls.
Persons: Xi, Mao Ning, Benjamin Cavender, Alicia Garcia, Herrero, Alex Capri Organizations: SZ, Technology, State, China Market Research Group, National University of Singapore Locations: Shenzhen, China, Russia, Ukraine, Russian, Kazan, Washington, Asia, Natixis
Eli Lilly said on Monday it sued three medical spas and online vendors for selling products claiming to contain tirzepatide, the main ingredient in its popular weight-loss medicine Zepbound, including in the form of dissolvable tablets. Pivotal Peptides says it offers research grade tirzepatide, while MangoRx sells a compounded version, both online. Lilly has accused Pivotal Peptides of selling products claiming to contain tirzepatide directly to patients without any prescription from a medical professional, despite advertising the drugs for research purposes. Lilly said it sent a cease and desist letter to Pivotal Peptides before filing the lawsuit. Eli Lilly is seeking court orders barring the vendors from selling their drugs claiming to contain tirzepatide and unspecified monetary damages.
Persons: Eli Lilly’s, Eli Lilly, tirzepatide, Lilly, MangoRx, drugmaker, Genesis Organizations: Lifestyle Medicine of, U.S . Food, Drug Administration, Genesis, FDA, B12 Locations: New York City, Lifestyle Medicine of Nevada, U.S, Indiana , Texas, Washington, Indianapolis
Philadelphia Eagles running back Saquon Barkley rushed for 176 yards on 17 carries against the New York Giants, his former team, outgaining their offense on Sunday by himself. The second overall pick in the 2018 draft by New York, Barkley signed a three-year, $37.75 million contract with the Eagles in March. Saquon Barkley #26 of the Philadelphia Eagles during the game against the New York Giants on Sunday. Al Bello / Getty ImagesThrough five games entering Sunday, Barkley had run for 482 yards on 91 carries, with four touchdowns. The Jones-led passing offense hasn’t been much better after the team drafted wide receiver Malik Nabers with the sixth overall pick.
Persons: Saquon Barkley, Barkley, Daniel Jones, “ We’ve, Jones, Joe Schoen, Al Bello, hasn’t, Malik Nabers Organizations: Philadelphia Eagles, New York Giants, Giants, Eagles, New, Sunday, NFL, Philadelphia Locations: New York, York
By Zack Rosenblatt, Mike DeFabo and Lauren MerolaPittsburgh Steelers quarterback Russell Wilson posted a strong stat line Sunday against the New York Jets at Acrisure Stadium, in part thanks to star wide receiver George Pickens. Russell Wilson passes first testWhen Tomlin pivoted, sitting Fields in favor for a healthy Wilson, the decision was sure to have a microscope on it. Wilson found his rhythm as the game went on, showing great chemistry with George Pickens. Wilson and the Steelers capitalized on the miscue, when the QB hit Pickens for a touchdown to cap a four-play, 54-yard drive. That set the stage for Wilson to sneak the ball in, giving the Steelers an eight-point lead.
Persons: Zack Rosenblatt, Mike DeFabo, Lauren Merola, Russell Wilson, George Pickens, Pickens, Wilson, Mike Tomlin, Justin Fields, Tomlin, Wilson’s, Pickens Wilson, Darnell Washington, Van Jefferson, Aaron Rodgers, Tyler Conklin, Jeff Ulbrich, Rodgers, Garrett Wilson, Greg Zuerlein, can’t, Woody Johnson, Robert Saleh, Davante Adams, Haason Reddick, — Zack Rosenblatt, Takeaways, Beanie Bishop, Bishop, , Joe Sargent Organizations: Lauren Merola Pittsburgh Steelers, New York Jets, Acrisure, Cincinnati Bengals, nab, Steelers, Pittsburgh, The Jets, Steeler, Jets, Beanie, QB, Getty Locations: New York, Pickens
Several companies due to report next week could get a boost after their earnings results. To separate the wheat from the chaff, CNBC Pro screened FactSet for companies reporting in the coming days that are liked by analysts and also have strong earnings momentum. One bullish analyst is Morgan Stanley's Erik Woodring, who reiterated an overweight rating and $133 price target on Seagate in an Oct. 15 note to clients. Health care stocks Universal Health Services and HCA Healthcare have also seen improved sentiment, as measured by earnings estimates since the Spring. The investment bank maintained its buy rating while increasing its price target on HCA by $75 to $450, implying 8% potential upside from Friday's close.
Persons: Morgan Stanley's Erik Woodring, Woodring, TD Cowen Organizations: CNBC Pro, Seagate Technology, Seagate, Universal Health Services, HCA Healthcare, Analysts, Healthcare, HCA
Royal Caribbean is facing legal trouble after passengers filed a lawsuit over hidden cameras placed in state rooms by a former employee. Mirasol, a former stateroom attendant for Royal Caribbean, is now serving 30 years in federal prison. Winkleman is the attorney representing the plaintiffs in this case, and he said Royal Caribbean should also be to blame. “I think Royal Caribbean had a moral obligation to notify all the passengers that likely could’ve been affected they didn’t do that, now the notice is out there,” said Winkleman. “It’s more about getting the word out there because Royal Caribbean is not,” said the woman.
Persons: Arvin Mirasol, Margulies, Mirasol, NBC6, , “ Mirasol, Daniel Perez Garcia, Michael Winkleman, Winkleman, , ” NBC6, ” Winkleman, there’s Organizations: Caribbean’s Symphony, Royal, Santos Locations: Caribbean, Miami’s, New Hampshire, Royal Caribbean, Malaga, Spain
Airplane fuselages bound for Boeing's 737 Max production facility await shipment on rail sidings at their top supplier, Spirit AeroSystems Holdings Inc., in Wichita, Kansas, on Dec. 17, 2019. Boeing supplier Spirit AeroSystems will furlough some 700 workers as a strike by machinists at the planemaker enters its sixth week, a spokesman for the supplier said Friday. Spirit AeroSystems had been scrambling to cut costs after more than 32,000 Boeing machinists walked off the job Sept. 13 after overwhelmingly rejecting a tentative labor deal with Boeing. "If the strike continues beyond November, we will have to implement layoffs and additional furloughs," spokesman Joe Buccino told CNBC on Friday. Spirit workers on Boeing's best-selling 737 Max are not affected, he added.
Persons: machinists, AeroSystems, Boeing machinists, Joe Buccino, Buccino, Max Organizations: Spirit AeroSystems Holdings Inc, Boeing, Spirit, CNBC, Reuters Locations: Wichita , Kansas
"Nothing done wrong at all," Trump said in a lengthy response after a Republican voter from Florida said he had lost his vote because of his responses to the riot and the Covid pandemic. The voter also questioned why he should support Trump when so many people who held high positions in his administration, including former Vice President Mike Pence, weren't backing him this year. "The vice president, I disagree with him on what he did. Trump has pleaded not guilty to the charges against him in Washington and in another election interference case in Georgia. At the town hall, Trump also called Jan. 6, when rioters who delayed the electoral vote count for hours injured over 140 police officers, as "a day of love."
Persons: Donald Trump, Trump, Mike Pence, Joe Biden’s, you’ll, Jack Smith’s, Christopher Alberts, Mark Mazza, Guy Reffitt, John Micklethwait, Organizations: Republican, Univision, Trump, Capitol, Prosecutors, Washington , D.C, Bloomberg, Justice Department Locations: Florida, Washington, Washington ,, Georgia
DETROIT — A judge has approved a $13 million settlement in a lawsuit over an unannounced active shooter drill at a Michigan psychiatric hospital for children, an event that terrified kids and staff and caused them to scramble for cover, text family and urgently call 911. They were barricading the doors, trying to figure out how to protect the children.”Fifty children at the hospital each will receive roughly $60,000. “The state recognized that this was really a bad decision and harmed a lot of people,” she said of the drill. “We regret that our patients, staff and community were negatively affected by the unfortunate incident in December 2022,” she said. Wagner said the drill was organized by the Hawthorn Center’s safety director, who still works for the state.
Persons: Robin Wagner, ” Wagner, ’ ”, Wagner, , James Redford, Lynn Sutfin, Organizations: DETROIT, Hawthorn Center, of Health, Human Services, Hawthorn Locations: Michigan, Detroit
watch nowAmericans often splurge on gifts during the holidays. This year, holiday spending from Nov. 1 through Dec. 31 is expected to increase to a record total of $979.5 billion to $989 billion, according to the National Retail Federation. Even as credit card debt tops $1.14 trillion, holiday shoppers expect to spend, on average, $1,778, up 8% compared to last year, Deloitte's holiday retail survey found. Meanwhile, 28% of holiday shoppers still haven't paid off the gifts they purchased for their loved ones last year, according to another holiday spending report by NerdWallet. How shoppers pay for holiday giftsThe problem with credit cards and BNPL
Organizations: National Retail Federation, NerdWallet
A federal appeals court has fast-tracked the Commodity Futures Trading Commission's case challenging the right of the event exchange Kalshi to offer U.S. political election contracts. Kalshi touted its presidential election contracts on electronic signs in New York City's Times Square over the weekend. The CFTC told the appellate court that election contracts "are susceptible to market manipulation" and also pose a risk to election integrity or how the public views the integrity of elections. Kalshi CEO Tarek Mansour, in a statement, said his company is "confident" that the law allows election contracts. As of Monday, Kalshi had booked more than $7 million in contracts on the presidential election outcome.
Persons: Kalshi, Tarek Mansour, Mansour, Donald Trump, Kamala Harris Organizations: Long, Fitness Center, Interactive, U.S, Senate, New York City's, Appeals, District of Columbia Circuit, CFTC, Washington , D.C Locations: Virginia's, Arlington , Virginia, New York, U.S, Washington ,
Changes you can make during open enrollmentDuring Medicare open enrollment, retirees may select new health plans and prescription drug plans. They may switch from original Medicare, which is provided by the federal government, to Medicare Advantage plans that are privately managed. They may also switch from Medicare Advantage to Medicare original or change Medicare Advantage plans. Original Medicare includes Medicare Parts A and B. Medicare Part A covers care provided by hospitals, skilled nursing facilities and hospice, as well as some home health care. Retirees also should be on the lookout for changing Medicare Advantage coverage, Moeller said.
Persons: Tricia Neuman, Ryan Ramsey, Philip Moeller, Moeller, Harris, KFF's Neuman, Neuman Organizations: Getty, Medicare, National Council, Aging, Biden Locations: Connecticut, Maine, Massachusetts, New York
Elliott Investment Management has requested a special meeting at Southwest Airlines , formalizing the launch of a long-signaled proxy fight for control of the carrier's board. Elliott has also trimmed the size of its board slate from 10 director candidates to eight, after Southwest shrunk its board size from 15 to 12. CNBC reported last month that Elliott was preparing to call a special meeting. David Hess, who joined Southwest's board in 2021, was also on the board of Arconic in the midst of its proxy fight with Elliott. Elliott has never before called for a special meeting, which at Southwest carries a higher threshold of approval compared with voting at a regularly scheduled shareholder meeting.
Persons: Elliott, Bob Jordan, Gary Kelly, David Hess, Elliott . Hess, Jordan, Southwest's, John Pike, Bobby Xu, — CNBC's Leslie Josephs Organizations: Hartsfield, Jackson Atlanta International, Elliott Investment Management, Southwest Airlines, Southwest, CNBC, Alcoa, Artisan Partners, Salesforce, Starbucks Locations: Atlanta , Georgia
The prospect of installing a new roof atop Tropicana Field comes at a difficult time for local governments, which are already committed to building a new Rays stadium in time for the 2028 season. So whatever investment is put into Tropicana Field now would be used by the Rays for only three more seasons. A rep for the company that installed the stadium’s roof, Geiger Engineers, did not return messages from NBC News seeking comment Thursday. That roof was “well past its intended service life,” Geiger Engineers principal David Campbell told the newspaper. Tropicana Field opened to the public in 1990 and still had its original roof.
Persons: Councilmember Gina Driscoll, Ann Heisenfelt, Emily Guglielmo, Guglielmo, , David Campbell Organizations: Tropicana Field, Tampa Bay Rays, MLB, Rays, Tropicana, NBC, Minnesota Vikings, St, American Society of Civil Engineers, Committee, Colorado Rockies, Geiger Engineers, The New York Times, ” Geiger Engineers Locations: Hurricane Milton, St, Petersburg, Tampa Bay, Minneapolis, California, America
Japanese atomic bomb survivor organization Nihon Hidankyo won the Nobel Peace Prize on Friday in recognition of the organization's efforts to achieve a world free of nuclear weapons. "Gradually, a powerful international norm developed, stigmatising the use of nuclear weapons as morally unacceptable. The Norwegian Nobel Committee said it had not been able to contact Nihon Hidankyo yet, but that "it hoped to do so very soon." The committee has previously sought to spotlight the issue of nuclear weapons, awarding the peace prize to the International Campaign to Abolish Nuclear Weapons (ICAN) in 2017. Winners of the Nobel Prize typically receive 11 million Swedish krona ($1.06 million), although multiple winners share the sum.
Persons: Kido Suechi, Nihon Hidankyo, Nihon, Alfred Nobel Organizations: Nuclear, Austrian, International Locations: Japan, Vienna, Austria, Norwegian, Hiroshima, Nagasaki, Oslo, Norway, Swedish
The Nobel Prize in literature was awarded Thursday to South Korean author Han Kang for what the Nobel committee called “her intense poetic prose that confronts historical traumas and exposes the fragility of human life.”Mats Malm, permanent secretary of the Swedish Academy’s Nobel Committee, announced the prize in Stockholm. Han, 53, won the International Booker Prize in 2016 for “The Vegetarian,” an unsettling novel in which a woman’s decision to stop eating meat has devastating consequences. The literature prize has long faced criticism that it is too focused on European and North American writers of style-heavy, story-light prose. On Wednesday, three scientists who discovered powerful techniques to decode and even design novel proteins were awarded the Nobel Prize in chemistry. The prize carries a cash award of 11 million Swedish kronor ($1 million) from a bequest left by the award’s creator, Swedish inventor Alfred Nobel.
Persons: Han Kang, ” Mats Malm, International Booker, Annie Ernaux of, Victor Ambros, Gary Ruvkun, John Hopfield, Geoffrey Hinton —, Alfred Nobel Organizations: International, North Locations: Korean, Swedish, Stockholm ., Annie Ernaux of France
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