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☆ Intel reports largest quarterly loss in company history
▼ + stars: | 2023-04-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

It's also Intel's largest quarterly loss of all time, beating out the fourth quarter of 2017, when it lost $687 million. In the first quarter, Intel swung to a net loss of $2.8 billion, or 66 cents per share, from a net profit of $8.1 billion, or $1.98 per share, last year . For the second quarter, Intel expects to lose 4 cents per share on revenue of $12 billion. Still, the loss per share and sales were slightly better than soft Wall Street expectations. In the meantime, a business that used to print money is struggling, especially in PC chips, which used to be the company's strongest product line.

☆ Fintech giants Klarna and Block slam 'outdated' UK buy now, pay later regulation proposals
▼ + stars: | 2023-04-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Alex Marsh, Klarna's head of U.K., said the proposals would lead to lengthened application times and result in "disproportionate friction" for consumers. In a consultation paper published in February, the U.K. government suggested applying parts of existing regulation – namely, the Consumer Credit Act – to buy now, pay later plans. The currently unregulated buy now, pay later model would be supervised by the Financial Conduct Authority. Buy now, pay later loans allow shoppers to defer payment by a month or to split the cost of their purchases over a period of equal monthly instalments. Based on Klarna modelling, that could increase to five minutes under the new U.K. rules, Marsh said.

☆ What one top tech analyst is worried about on Apple's stock into earnings
▼ + stars: | 2023-04-27 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Despite positive sentiment and with valuation hovering around its peak, analyst Toni Sacconaghi says Wall Street may be overshooting with estimates for third and fourth quarter revenue. The firm has a market perform rating on Apple stock with a price target of $125 per share, or 24% downside against Wednesday's close of $163.76. AAPL YTD mountain Apple stock could be riding too high on strong sentiment that may be unfounded, according to Alliance Bernstein. Wall Street consensus expects $84.4 billion and $93.6 billion in the third and fourth quarter, respectively, the firm notes. Sacconaghi noted that Apple stock has outperformed expectations by 2,040 basis points after first quarter earnings.

☆ A Newspaper Was Planning Its Last Edition. Then the Press Caught Fire.
▼ + stars: | 2023-04-26 | by ( Corey Kilgannon | ) www.nytimes.com time to read: +1 min

As other regional and community papers were fading, Montclair Local popped up with a subscription price: $12 a month. It added a website and weekly email newsletters, and for seven years, it defied the odds. Every Thursday, mailboxes in town were fed 20 fresh pages of local coverage, from school board updates to rumblings of a new supermarket — and of course high school sports. Last week, the Local’s board announced it would go online-only and merge with another online outlet, Baristanet. Its last print edition would come out the following Thursday, April 27.

☆ Here’s our April rapid-fire update on the stocks in Cramer’s Charitable Trust
▼ + stars: | 2023-04-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

When AMD reports earnings next week, we'll be looking for signs that its integration of Xilinx has proven a success. Amazon (AMZN): Investors will be looking closely at profit margins and the growth rate at cloud unit Amazon Web Services when the company reports earnings after the closing bell Thursday. After a disappointing fourth-quarter print, we're hoping to see evidence that CEO Jim Farley has righted the ship. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ The Woman Shaping a Generation of Black Thought
▼ + stars: | 2023-04-26 | by ( Jenna Wortham | ) www.nytimes.com time to read: +4 min

In her first book, “Monstrous Intimacies,” Sharpe writes extensively on Walker’s work to reveal how society is programmed to default to racist narratives. The work in Sharpe’s office, like many of Walker’s famous prints and sculptures, is devoid of color. The more time I spend with Sharpe’s work, the more it inflects my ways of seeing the world. According to Sharpe, Blackness is anagrammatical, meaning that the structures that order language, thought and society become disordered — if not destroyed entirely — when they encounter Blackness. “Her work has shown that we, as Black people, are the foils of humanity,” Frank B. Wilderson III, author of “Afropessimism,” told me.

☆ No one's buying Ivana Trump's townhouse — an extravagant unit filled with leopard print and pink marble — almost 9 months after her accidental death in the apartment
▼ + stars: | 2023-04-26 | by ( Azmi Haroun | ) www.businessinsider.com time to read: +3 min

Notably, the price of Ivana Trump's former abode has not budged since being listed in November 2022. The home was listed with Douglas Elliman and features extravagant rooms tied to Ivana Trump's personality, as well as a haunting doll modeled after Ivana Trump. After Ivana Trump's highly-publicized and financially contentious divorce from Donald Trump, Ivana Trump was awarded a settlement worth $25 million and purchased the home for $2.5 million. Ivana and Donald Trump's three children, Donald Trump Jr, Eric Trump, and Ivanka Trump, spent their teenage years in the apartment. Correction: April 25, 2023 — An earlier version of this story misstated the months since Ivana Trump's passing.

"It really seems like companies have become addicted to junk fees." Junk fees are making companies billions of dollars richer and the practice spans industries, including banking, telecom, entertainment and hospitality. CNBC sorted some of the biggest junk fee offenders into three separate buckets. "Junk hotel fees and these ancillary fees are bringing in about $3 billion a year for the hotel industry," Wolfe told CNBC, citing a Consumer Reports estimate. Watch the video above to learn more about where junk fees hide, how agencies are proposing changes, where policy falls short and whether increased regulatory oversight may be enough to squash junk fees once and for all.

☆ Halliburton's first-quarter results validate our reasons for owning the stock
▼ + stars: | 2023-04-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

In addition to its top-and-bottom line beats, Halliburton also posted better-than-anticipated operating margin and operating cash flow. Halliburton's free cash flow disappointed. As a reminder, in January, Halliburton announced a new framework to return at least 50% of annual free cash flow via dividends and buybacks going forward. Halliburton's free cash flow came in at negative $105 million in three months ended March 31, compared with estimates of positive $134 million. It's important to remember the weakness is largely due to normal seasonal trends, a dynamic also impacting Halliburton rival SLB, which last week reported negative first-quarter free cash flow, too.

☆ Democrats say Florida is 'dead for Biden' as his 2024 presidential campaign starts: 'We just need to be realistic'
▼ + stars: | 2023-04-25 | by ( Nicole Gaudiano | Kimberly Leonard | ) www.businessinsider.com time to read: +15 min

"It's like a dead carcass on the side of the road," DeSantis said in April of the Florida Democratic Party. Nearly two decades ago, Florida Democrats were "similarly declared dead, you know, forever, Amen," Schale said, but they rebounded. Wilfredo Lee/AP PhotoDemocrats say they still have spend in FloridaBut it's important for Democrats to still invest campaign resources in Florida, Democratic insiders said. Florida Democratic Party Chair Nikki Fried said the party had no infrastructure and no voter registration drive when she took the helm in February. Joe Raedle/Getty Images, Scott Olson/Getty ImagesBuilding a Democratic benchFried she's optimistic about Florida Democrats' future — and Biden's potential there.

☆ Jeff Bezos, accidental style icon, was spotted at Coachella in a butterfly-print button-down shirt
▼ + stars: | 2023-04-25 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +3 min

Amazon founder Jeff Bezos showed up at Coachella in a butterfly-print button-down shirt. "Looks like a low budget Fast and Furious scene," wrote Redditor RuckOver3 in a post that was upvoted more than 34,000 times as of press time. Bezos was spotted at the festival with his partner Lauren Sanchez, Kardashian matriarch Kris Jenner, and Jenner's partner, Corey Gamble, per TMZ. wrote Redditor BarfJello, in a comment that had been upvoted more than 13,000 times as of press time. "Looks like the average Coachella attendee," wrote Reddit user electricman420.

CNN —The 2-year-old boy found last month in an alligator’s mouth in a St. Petersburg, Florida, lake died of drowning, police say. The boy was put in the lake by his father, who is charged in both deaths, according to a St. Petersburg police affidavit. The Pinellas County medical examiner confirmed Monday that the cause of death was drowning, St. Petersburg police told CNN. Thomas Mosley St. Petersburg PoliceThe toddler’s father, Thomas Mosley, 21, is facing two counts of first-degree murder. They found Jeffery inside with “apparent cuts and stabs in excess of 100 wounds,” according to the affidavit.

☆ Alaska Airlines is getting rid of the self-serve airport kiosks that print boarding passes
▼ + stars: | 2023-04-24 | by ( Bianca Giacobone | ) www.businessinsider.com time to read: +3 min

Alaska Airlines is removing check-in kiosks as part of a $2.5 billion overhaul of its airport lobbies. Alaska Airlines has started removing kiosks to print boarding passes at airports, as part of a $ 2.5 billion investment in its passengers' "lobby experience." QR codes in airport lobbies will prompt passengers to get a boarding pass on their phones if they arrive without one, an Alaska Airlines representative told Insider. Kiosks have already been removed at nine airports: Portland International Airport in Oregon, Boise Airport, Cleveland Hopkins International Airport, Indianapolis International Airport, Harry Reid International Airport in Las Vegas, Missoula International, Ontario International, Palm Springs International, Rocky Gutierrez Airport in Sitka, Alaska. Alaska Airlines is a passengers' favorite in terms of customer satisfaction, according to a recent survey.

☆ A brief timeline of Tucker Carlson’s rise: From CNN and PBS to Fox.
▼ + stars: | 2023-04-24 | by ( Daniel Victor | ) www.nytimes.com time to read: 1 min

After graduating from Trinity College in 1991, Tucker Carlson entered print journalism, writing for a variety of right-leaning and mainstream publications. His move into broadcast began his ascent into stardom. Here is a brief timeline of his career.

☆ Fashionphile founder and CCO explains why that 'ludicrously capacious' bag from 'Succession' had a 310% spike in online searches
▼ + stars: | 2023-04-23 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Since "Succession" character dubbed this Burberry bag "ludicrously capacious," search for the brand has spiked. One of the show's central characters, Tom Wamsgans, scoffs at the luxury bag, describing it as "ludicrously capacious." Tom Wamsgans' comment about another character's "ludicrously capacious" bag in season four of "Succession" went viral. Macall B. Polay/HBOIn the weeks since the episode aired, searches for "Burberry tote bag" have jumped 310%, according to virtual fitting room company 3DLOOK, per Harper's Bazaar UK. Searches for "Burberry handbag" are up 180%, while "Burberry tote" increased 25%.

☆ The 5 absolute worst ways to earn passive income, according to a 6-figure entrepreneur who's tried dozens of them
▼ + stars: | 2023-04-23 | by ( Jen Glantz | ) www.businessinsider.com time to read: +8 min

Flipping products, making money through ads, and credit-card bonuses were a waste of her time. At first, I was making passive income as the stocks increased in value, and I sold off a few shares to make a profit. Trying to make passive income in the stock market is risky, especially when you're someone who doesn't fully understand it. In the end, this passive income stream proved to be stressful, time-consuming, and risky. After earning those bonus points, I redeemed them for cash or statement credits, and called that passive income.

☆ The Janes 1960s underground abortion network
▼ + stars: | 2023-04-23 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +28 min

The group was officially created in 1969 as the “Abortion Counseling Service of Women’s Liberation.”But after running ads in an underground newspaper: “Pregnant? “It wasn’t just abortion,” Barron explained. “Vacuum aspiration was much easier to do, and I think it’s less difficult for the woman,” Scott said. We had to keep the service running.”Laura Kaplan volunteered for the Janes, later immortalizing the group in her book, "The Story of Jane: The Legendary Underground Feminist Abortion Service." Each Jane was charged with 11 counts of abortion and conspiracy to commit abortion, with a possible sentence of up to 110 years in prison.

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

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☆ A Maine senator lays out why everyone should be a YIMBY: Building more housing could bring families extra income and help solve the labor shortage
▼ + stars: | 2023-04-22 | by ( Eliza Relman | ) www.businessinsider.com time to read: +5 min

Sen. Angus King, a Maine independent, told Insider the lack of affordable housing is "a national crisis." Maine is facing a severe shortage as it's welcomed a surge of new residents in recent years. The law also eliminated all single-family zoning, eliminates some regulatory restrictions on multi-unit homes, and incentivizes the construction of affordable housing. New Mainers, though welcomed in an aging state in need of more workers, have exacerbated the housing shortage. A lack of affordable housing is central: the state housing authority reported last year that the average price of a house in nearly every county in Maine was unaffordable for the average household income.

☆ P&G stock gets the respect it deserves after delivering a great quarter and outlook
▼ + stars: | 2023-04-21 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Club holding Procter & Gamble (PG) reported fiscal third-quarter results that were better than expectations before the opening bell Friday. The fact that volumes were only down 3%, despite a 10% price increase, is a testament to Procter & Gamble's strong pricing power. This new target comes as management now expects all-in (non-organic) sales growth to be up 1%, an increase from the down 1% to flat range previously provided. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

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☆ China’s central bank expects ‘U-shaped’ recovery in consumer prices
▼ + stars: | 2023-04-20 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Workers at a factory making lithium battery products for domestic and international markets in Nantong, Jiangsu province, China. BEIJING — The People's Bank of China said Thursday it expects consumer prices to pick up this year, and that the central bank is not expecting inflation or deflation to become a significant problem for China. China's consumer price index hit an 18-month low in March, and rose 0.7% year-on-year. Zou added that in the medium to long term, China's economy has no basis for an inflationary or deflationary trend. He claimed that's because demand and supply in China's economy are even, and monetary policy is "reasonable."

☆ Haas F1 boss Steiner plays it by the book
▼ + stars: | 2023-04-20 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

LONDON, April 20 (Reuters) - Haas boss Guenther Steiner has famously not watched the Netflix 'Drive to Survive' docu-series that made him a cult hero for a new wave of Formula One fans, but he has read every word of 'Surviving to Drive'. If they feel happy, I’m happy for them," said Steiner. He came back in 2005 when Red Bull bought the Jaguar team but then moved to NASCAR, returning to F1 when Haas debuted in 2016. RARE EXAMPLEThe book is a rare example of an active F1 boss putting his thoughts into print, however forthright and uncomplimentary. Ralf Schumacher, brother of seven times world champion Michael and uncle of Haas's dropped former driver Mick, is unlikely to enjoy it.

☆ Want to open your first brokerage account? Follow these 4 easy steps
▼ + stars: | 2023-04-19 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

One thing worth considering on this front is where your workplace retirement account is held, if you have one. If you have a short-term goal, such as saving for a down payment on a home, you'll likely want to open a taxable brokerage account. If you're saving for a long-term goal, such as retirement, gravitate toward an individual retirement account. Step 3: Sign up and fund your accountOnce you decide on an account, you'll have to fill out an application. Generally, you can make a deposit by linking a bank account, ordering a wire transfer, cutting a check or transferring funds from another type of brokerage account.

☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Tesla, Amazon, Bowlero, Exxon & more
▼ + stars: | 2023-04-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

UBS upgrades Exxon to buy from neutral UBS said in its upgrade of the oil and gas giant that it likes the company's balance sheet. Bank of America reiterates Meta as buy Bank of America says it likes "self-help stocks in an uncertain macro." Bank of America reiterates Nvidia as buy Bank of America raised its price target on the AI beneficiary to $340 per share from $310. Bank of America downgrades CDW to neutral from buy Bank of America downgraded the technology products company after its disappointing earnings report on Tuesday. Wolfe reiterates Amazon as outperform Wolfe says it's standing by its outperform rating on the stock heading into earnings next week. "

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☆ Top pro leagues, media outlets team up to combat problematic sports-betting ads
▼ + stars: | 2023-04-19 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

The nation's top professional leagues are teaming up with some TV broadcasters to tackle irresponsible sports-betting advertising. The NFL, NBA, NHL, MLB, WNBA, NASCAR, and MLS have joined media companies NBCUniversal and Fox to form The Coalition for Responsible Sports Betting Advertising. The coalition, led by NFL vice president of public policy and government affairs, Jonathan Nabavi, aims to regulate sports-betting advertising as it floods television, internet and print media. The move comes as sports betting becomes legal in more states and opponents worry its advertising targets minors. The National Council on Problem Gambling has commended the coalition and promised to work in collaboration with it to "better mitigate problem gambling related harm."

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