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As Vice President Kamala Harris’s presidential campaign rushes to shore up its base, its efforts will be bolstered by a ready-made coalition: the more than two million members of Black Greek-letter organizations who have quickly united to mobilize Black voters nationwide. Before Ms. Harris had even hosted her first official campaign event as the de facto Democratic nominee, the heads of the “Divine Nine,” the country’s nine most prominent Black sororities and fraternities, were planning a giant voter organization effort. When President Biden announced on Sunday that he was stepping aside and endorsing Ms. Harris, excitement over her ascent spread swiftly among these groups’ members in group chats, Facebook groups and conference calls. After all, Ms. Harris, a member of Alpha Kappa Alpha since her undergraduate days at Howard University, is one of them. Once Ms. Harris ran for president, in 2020, she said, that changed.
Persons: Kamala Harris’s, Harris, Biden, Ms, , Frederica S, Wilson of Organizations: Black, Democratic, Facebook, Alpha Kappa Alpha, Howard University Locations: Wilson of Florida
Read previewIf you consider yourself very online, you'd likely be able to name the early wave of top YouTube creators, from Lilly Singh and PewDiePie to Zoella and Tyler Oakley. AdvertisementDuring the early days of YouTube, there were only a handful of channels to watch with creators consistently making quality content. But now, the number of YouTube creators uploading content and making money from the platform has grown tremendously. Still, Allocca said he's noticed there are more successful creators than there used to be but fewer huge stars. AdvertisementSo, while there may be more opportunities for YouTube creators now, it may be a while before we see another rising star who can amass the broad appeal of someone like MrBeast.
Persons: , Lilly Singh, PewDiePie, Tyler Oakley, it's, YouTube execs Amjad Hanif, Kevin Allocca, Hanif, Anthony Baroud, Aphmau, Krew, Alpha, Allocca, he's, There's, Gen, Ally Sheehan, Taylor Swift Organizations: Service, YouTube, Business, Brands Locations: Zoella, VidCon, Anaheim , California, North Carolina
CNN —President Joe Biden’s decision to end his reelection bid and endorse Vice President Kamala Harris to replace him in the campaign has upended the presidential race and shined a renewed spotlight on Harris. Harris is the first woman to become vice president, as well as the first Black or Asian American person to hold the office. One-year-old Kamala Harris, right, with her mother Shymala Gopalan Harris. Archivio GBB/contrasto/ReduxIn 1982, Harris enrolled at Howard University, a historically Black university in the heart of Washington, DC. The couple met on a blind date and Harris later joked in her memoir that her staffers referred “to that era as A.D. – ‘After Doug.’”Emhoff is the nation’s first second gentleman.
Persons: Joe Biden’s, Kamala Harris, Harris, California’s, Kamala Devi Harris, ” Harris, Shymala Gopalan Harris, Archivio, Donald, Shyamala Gopalan Harris, , , Kamala, Biden’s, Beau, , Doug Emhoff, Doug, , Barbara Davidson, California Sen, Barbara Boxer, Barack Obama, Biden, Donald Trump, I’ve Organizations: CNN, Democratic, University of California, Stanford, Berkeley, Howard University, Alpha Kappa Alpha, Black, , Oakland’s Alameda, American, Los Angeles Times, Committee, Intelligence, White House, South, White Locations: Oakland , California, United States, Jamaica, Berkeley, India, Berkley, Washington, DC, California, University of California Hastings, America, Oakland’s Alameda County, San Francisco, Los Angeles, South Asian
Verizon misses quarterly revenue estimates on slow phone upgrades
  + stars: | 2024-07-22 | by ( ) www.cnbc.com   time to read: +2 min
Verizon Communications missed quarterly revenue estimates on Monday due to slow phone upgrades in the United States, taking the shine off strong growth in wireless subscribers and sending shares of the telecom firm down 3.4% before the bell. Verizon reported second-quarter revenue of $32.8 billion, compared with analysts' average estimate of $33.06 billion, according to LSEG data. Verizon said it added 148,000 net monthly bill-paying wireless phone subscribers from April to June, above analysts' average estimate of 127,870 additions, according to Visible Alpha. It even raised the price of some older plans in March to prompt customers to switch to the new plans. The company's consumer business reported net losses of 8,000 wireless retail postpaid phone subscribers in the latest quarter, compared with 136,000 losses a year earlier.
Persons: Warner Bros Discovery's Max Organizations: Verizon Communications, Verizon, Apple, IDC, Mobile, Netflix, Warner Bros Discovery's Locations: United States
In just three and a half weeks, Kamala Harris has moved from the shadows to the forefront of the Democratic Party. At the time of the catastrophic debate that spelled the beginning of the end for President Biden, the vice president was still something of a maligned figure, standing in the president’s shadow. She redeemed herself with speeches like the one she delivered on July 10 at the Dallas convention of her sorority, Alpha Kappa Alpha, where she defended the administration’s record and laid out the approach she would take if she became the party’s nominee. He barely did a middling job of introducing her to the public and setting her up for success. Instead, his advisers diminished her by casting her as a placeholder.
Persons: Kamala Harris, Biden, Jonathan Chait, , , Harris Organizations: Democratic Party, Alpha Kappa Alpha, New York, Democratic Locations: Dallas
Take activist hedge funds, which buy up a percentage of a company's stock (or an asset) and then use their weight to push for operational changes. Or there would be a fun, splashy war between the hedge fund and the C-suite. Hedge funds rely on outperforming the market when times are hard and it's easier to find pockets of outperformance and exploit them. Of course, hedge funds are having a hard time coming up with a crew because the clients have changed too. Advertisement"At the end of the 1960s, the bubble burst, and everyone thought, 'That's the end of hedge funds,'" Mallaby said.
Persons: David Tepper, Anthony Scaramucci, Lenny Kravitz, lanyards, Bobby Jain, Goldman Sachs, Denise Shull, Charles Lemonides, ValueWorks, Saba Capital's Boaz Weinstein, BlackRock, Nelson Peltz, Bob Iger, Paul Singer's Elliott, , Elliott, Meir Statman, Statman, I'm, That's, Paris, Marc Jacobs, they've, they're, Sebastian Mallaby, Julian Robertson, Julian, Mallaby, Lemonides, wonky quants, Keith Gill, David Einhorn, Andrew Left, bro Organizations: Appaloosa Management, Carolina Panthers, Bellagio, Millennium Management, Credit Suisse, Jain, Disney, Paul Singer's Elliott Management, Santa Clara University, Behavioral Finance, New, Tiger Management, Met, rockstar, Ferrari, Greenlight, Harvard, Princeton grad, Research Locations: Vegas , New York City, Singapore, Argentine
Elliot has observed hedge funds expressing bullishness on the dollar in two main ways. Hedge funds are also taking long positions in exchange-traded funds specific to sectors likely to benefit from a loosening of regulatory constraints. In response, Elliot says hedge funds are moving into short positions on long-duration bonds, which is five years or more. Finally, given the rising uncertainty around inflation and deficit spending, hedge funds have shifted to increasing their positions in gold by buying gold futures contracts, he said. These contracts set up agreements on the purchase of a predetermined amount of gold at a set price by a set date.
Persons: Bob Elliott, Elliot Organizations: Service, Federal, Trump, Republican Locations: Washington
After over four decades of tabloid celebrity, reality-TV stardom and presidential politics, you would think this would be a settled question. But after his near assassination in Pennsylvania, the Republican National Convention teased that the former president was going to unveil a softer, changed version of himself. The answer was: Yes, and yes. It led to Mr. Trump’s taking the stage with a new, somber voice as he recounted his brush with death. The introductory hours of the night featured a rotation of admirers, heavily male, who cited Mr. Trump’s close call and defiant survival as testimony to his macho fighting spirit.
Persons: Donald J, Trump, Trump’s Organizations: Republican National Convention Locations: Pennsylvania
Kids increasingly prefer to zone out for hours watching free short-form videos instead of full-length TV episodes and movies. In April, Nielsen estimated, kids 2 to 11 watched three times as much YouTube as Disney+ content. Kids watching Disney clips on YouTube may have no need for Disney+. 5 spot for kids' entertainment on YouTube in 2023, according to Tubular, a social video analytics company. Kids preferring short-form videos on YouTube over full-length episodes and movies is a problem that Disney doesn't seem to be able to solve.
Persons: Bob Iger, Bob Chapek's, Iger, Taylor Swift, Nelson Peltz, Disney, Alexia Raven, it's, Gen Alpha, , Liz Huszarik, Nick Macknight, King, Aladdin, Justin Timberlake, Zendaya, Ariel, Bernstein, Discovery's Max, Florida's Gov, Ron DeSantis, Macknight, Lucia Moses Organizations: Disney, Epic Games, Investors, Disney Channel, Nielsen, YouTube, Warner Bros, Discovery, Media, Comcast, Paramount, Google, Netflix, Moonbug Entertainment, Disney's, Hulu, Marvel, Lucasfilm, Florida's, Pixar, Dallas, Business Locations: WarnerMedia, Dallas
Swatch sales, profits hit by flagging demand in China
  + stars: | 2024-07-15 | by ( ) www.cnbc.com   time to read: +2 min
Swatch Group reported a steep fall in first half sales and earnings on Monday as the world's biggest watchmaker struggled with weaker demand in China. The sales figure missed the 3.75 billion francs forecast by analysts in a consensus gathered by Visible Alpha. Net profit tumbled to 147 million francs from 498 million francs, it added. Sales during the first half of the year were hurt by a negative currency impact of 145 million francs, it noted. Sales figures outside of China in local currencies were at the level of 2023, a record year, Swatch said.
Persons: Nick Hayek, Tissot, Longines Organizations: Swatch Group, Swatch ETA, Swatch, Alpha Locations: Grenchen, Switzerland, China, Swiss, Hong Kong, Macau, Japan, United States
This strategy can offer double-digit yields — at a cost
  + stars: | 2024-07-12 | by ( Michelle Fox | ) www.cnbc.com   time to read: +7 min
With tantalizing yields that can reach 10% or more, covered-call exchange-traded funds have become a popular investment. The result is income for investors, based on the option's premium, in return for capped upside if the option is exercised. The derivative income Morningstar category, dominated by covered-call ETFs, saw inflows of $24.3 billion over the past year, as of June. The largest actively-managed, covered-call ETF is the JPMorgan Equity Premium Income ETF , which has a 6.88% 30-day yield and an adjusted expense ratio of 0.35%. Investors should also be aware of the strategy being used by the fund managers, which will affect the upside potential and call premium.
Persons: Morningstar, Lan Anh Tran, Tran, JEPI, Rohan Reddy, Reddy, QYLD, XYLD, Rick Wedell, It's, Wedell, X's Reddy, erferring, Morningstar's Tran Organizations: Nasdaq, JPMorgan
IWM 5D mountain iShares Russell 2000 ETF Next week's earnings results will help investors glean whether that rotation trade is sustainable. The Dow Jones Industrial Average, which is weighted more toward the real economy than is the S & P 500 and Nasdaq, rose to a new record above 40,000. According to FactSet consensus estimates, S & P 500 companies are set to post blended earnings growth of 9.2% in the second quarter. "It's not unthinkable to see us exiting this year at 5,800 on the S & P," he said. This follows a difficult 2Q, when 75% of Large Cap Core managers trailed the S & P 500," Palfrey wrote.
Persons: Patrick Palfrey, Hogan, Keith Buchanan, Buchanan, Palfrey, David Sekera, Quincy Krosby, Goldman Sachs, Morgan Stanley, Huntington Organizations: Nasdaq, UBS, Investors, Riley, Dow Jones, Globalt Investments, Riley Securities, Big Tech, Core, LPL, BlackRock, Bank of America, Taiwan Semiconductor, Price, Retail, Hunt Transport Services, State, PNC Financial Services, UnitedHealth, United Airlines, Discover Financial Services, U.S . Bancorp, Johnson, Citizens Financial Group, Philadelphia Fed, Netflix, T Bank, KeyCorp, American Express, Halliburton, Fifth Third Bancorp, Regions Locations: Nasdaq, NAHB, Horton, Blackstone, Taiwan
CNN —As President Joe Biden took on his critics in Washington, Vice President Kamala Harris made the case to their allies around the country. She told Black voters at Essence Fest that 2024 is the “most significant election of our lifetime” over the weekend. “As President Biden has said, he counts on Vice President Harris’ advice and counsel,” Harris press secretary Ernesto Apreza said in a statement. In March, Harris became the first sitting vice president to visit an abortion clinic. We have a president and a vice president who are doing a good job, and I don’t expect those nominees to change.”
Persons: Joe Biden, Kamala Harris, Donald Trump, ” Harris, , Biden, Harris, you’ve, LaTosha Brown, Harris’s, Dennisa Thomas, , Trump, “ Kamala Harris, Joe Biden’s, she’s, Ohio Republican Sen, J.D, Vance, Harris vouching, , Adrianne, Harris ’, Ernesto Apreza, , Roy Cooper, Biden’s, First Lady Jill Biden, ” Cooper, “ Joe Biden Organizations: CNN, Black, Essence, Dallas Wednesday, Alpha Kappa Alpha, Democratic, Trump, Republican, Pacific Islander American, Washington Post, ABC, Biden, The Associated Press, don’t, Ohio Republican, Democratic Party loyalists, , Greensboro’s Dudley High School, Democratic Gov Locations: Washington, Nevada, Dallas, California, Pennsylvania, Kansas City , Missouri, Ohio, Adrianne Shropshire, Mexico, Central America, North Carolina, Guilford County, Biden’s Raleigh, Wilmington, America
That pullback has materialized and according to our Elliott Wave analysis of the bitcoin chart, support has possibly been formed in the zone of $59k - $49k. Looking at the 3-chart overlay below you'll find bitcoin, gold, and US 10-year yields since 2020. First is that gold and Bitcoin (blue and orange) have a very close positive correlation. Pulling it all together higher rates have a negative impact on all three; bitcoin, gold, and the stock market, which are all showing a positive relationship in recent months. In summary, being very bullish on the stock market, I would like to see bitcoin and gold move higher along with lower US yields.
Persons: Bitcoin, Elliott, Todd Gordon, Gordon, IBIT Organizations: Tactical Alpha, Edge, Inside Edge, CNBC, NBC UNIVERSAL Locations: bitcoin
Read previewThere is perhaps no better example of the hedge fund industry's maturation than Brevan Howard. The $35 billion firm has changed considerably since 60-year-old Alan Howard stepped back from running its day-to-day operations in 2019. Now, Howard — the firm's majority owner — no longer manages money at Brevan. The firm's two biggest funds — the long-running, $11.9 billion Master Fund and the younger, $12.2 billion Alpha Fund — each manage more money now than the entire firm did five years ago. Advertisement"The real challenge is keeping the trading talent," said Nagi Kawkabani, a former Brevan Howard co-CEO told Institutional Investor in 2019.
Persons: , Brevan Howard, Alan Howard, Howard, Howard —, Rishi Shah, Fash, Minal Bathwal, Trifon Natsis, Aron Landry, James Vernon, Jean, Philippe Blochet, Chris Rokos —, Natsis, Landry, Brevan, Nagi Kawkabani, Shah, Shaw, He's, he's Organizations: Service, Business, Fund, Alpha, Credit Suisse, Alpha Fund, Citadel, Bloomberg, Investor, United Arab, Winton Group Locations: Brevan, Ville, Natsis, Abu Dhabi, United Arab Emirates
So far this year, hedge fund managers have failed to beat the S & P 500 , one of the cheapest, easily available investment vehicles for ordinary investors. Hedge funds returned just 5% in the first half of the year after a 0.2% loss in June, with event-driven strategies the biggest laggards, according to data firm HFR. The performance may come as a disappointment as hedge funds often tout star stock pickers and niche strategies to justify their high fees. Hedge funds typically charge a 2% management fee on the total assets under management plus a performance fee of 20% of the fund's profits. Goldman Sachs' prime brokerage data showed hedge funds have been rotating out of tech stocks, especially winning chipmakers over the past few weeks, while pouring into financial stocks and commodities.
Persons: Hedge, Morgan Stanley's, Bill Meany, Morgan Stanley, Goldman Sachs, Ken Griffin's, Bill Ackman's Pershing, Dan Loeb's, Cliff Asness, AQR Organizations: Citadel, Apex, Equity Locations: Wellington
CNN —Second gentleman Doug Emhoff tested positive for Covid-19 Saturday after experiencing mild symptoms, according to a Sunday statement from his office. Vice President Kamala Harris has tested negative for the virus and remains asymptomatic, Emhoff communications director Liza Acevedo said in the statement. The couple were on a balcony at the White House with President Joe Biden and first lady Jill Biden on Thursday for an Independence Day celebration. CNN has reached out to the White House to ask whether the president is being tested. Emhoff previously tested positive for Covid-19 in March 2022, and Harris tested positive a month later but had no symptoms.
Persons: Doug Emhoff, Kamala Harris, Liza Acevedo, Joe Biden, Jill Biden, Harris, Biden, ” She’s, Emhoff, Samantha Waldenberg, Ebony Davis Organizations: CNN, White, Essence, Alpha Kappa Alpha, Locations: New Orleans, Dallas, Pennsylvania
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUS and China could do a 'deal' under a new Trump administration: Ben HarburgBen Harburg of Corevalues Alpha says China is more likely to have "positive" trade outcomes under a Trump Presidency, given his "transactional nature".
Persons: Trump, Ben Harburg Ben Harburg, Corevalues Alpha Organizations: Trump Presidency Locations: China
The names fans gushed over at this year's VidCon creator conference, held last week in Anaheim, California, weren't the influencers you might expect (or maybe I'm just getting old?) Here are seven top takeaways from VidCon 2024, from the reign of Minecraft streamers to the struggles of once-buzzy startups:Creator collective, Krew, meeting fans at VidCon. Fans of these Minecraft creators lined up outside the convention center each morning, often dressed in cosplay related to the creator's videos. Last year, creator startups made a huge splash at VidCon. Related storiesBut this year, traditional media companies replaced creator startups as sponsors.
Persons: , Jessica Bravura, Bravura, Products Amjad Hanif, Patrick Stevenson, VidCon, Tara, Alpha, TikTok, Tara Yummy, Jake Webber, Johnnie Guilbert, Hank, John Green, Amanda Perelli, Instagram, Meta, Ray, Twitch, Alix Earle, Jake Shane, Braxton Berrios, Dave Benett Organizations: Service, YouTube, Business, Products, White, Leadership Summit, SXSW, Cannes Lions, Merrell Twins, Publish Press, Disney, Hyatt Regency, YouTube Gaming, Hyatt, Facebook, UTA, Riviera, Cannes Locations: Anaheim , California, Bravura, VidCon, Spotify's, Australia
For the ATRFX fund, this means betting on currencies, equities, commodities, and bonds, but not in a direct way. Instead, it employs everything from arbitrage strategies, riding out momentum and interest rates, or sitting on the sidelines when it's choppy. Over the last couple of years, higher interest rates have brought in some good yields. Related storiesOne step further is to arbitrage interest rates across currencies. Investors can do this by identifying national currencies with low interest rates, borrowing in that currency, and then lending in the currencies with higher interest rates.
Persons: David Miller, ATRFX, Miller, It's, that's, Yen, it's Organizations: Service, Systematic Alpha Fund, Business, Catalyst Capital Advisors, BNP Paribas, BNP, Commodities Commodities, Bloomberg, Federal Reserve
Former President Donald Trump is the clear favorite when it comes to the stock market, according to the latest results of CNBC's Delivering Alpha Stock Survey. Of the 400 investors, traders and money managers polled, 67% said Trump would be better for stocks than President Joe Biden. The S&P 500 rose 68% during Trump's four years in office versus the 44% gain so far under Biden's administration. Seventy-seven percent of the survey respondents said they trusted the central bank to do right by the American economy, but 23% said they didn't trust the Fed. The 400 money managers who took the survey were evenly split on where they stand on the direction of the S&P 500 and Nasdaq.
Persons: Donald Trump, Trump, Joe Biden, there'll, we're Organizations: Alpha Stock Survey, Nasdaq, Biden, Federal Reserve
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI ‘may be’ the catalyst for a new hardware replacement cycle: AnalystMelissa Otto of Visible Alpha shares her take on Micron.
Persons: Melissa Otto Organizations: Visible Alpha, Micron
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEV regulations 'most at risk' from overthrow of Chevron, says Capital Alpha's James LucierJames Lucier, Capital Alpha Partners managing director, and Danny Cervallos, NBC News and MSNBC legal analyst, join CNBC's 'The Exchange' to discuss the Supreme Court ruling that reduces government regulation.
Persons: James Lucier James Lucier, Danny Cervallos, CNBC's Organizations: Chevron, Capital Alpha Partners, NBC News, MSNBC
Read preview"Try talking with it here," Sam Altman wrote on X, linking to an "early demo" of ChatGPT. AdvertisementIt made OpenAI the poster child of the race to create human-like artificial general intelligence, which has become Altman's stated mission. OpenAI still has no release date for Sora, the model that generates videos based on users' text prompts and was first demonstrated publicly in February. AdvertisementThis month did give OpenAI something to celebrate; Apple announced that it was partnering with the company to bring ChatGPT to iPhones, iPads, and Macs. ChatGPT gave OpenAI a headstart in the race to make AGI.
Persons: , Sam Altman, ChatGPT, Altman's, OpenAI, Scarlett Johansson, Altman, Sora, Sundar Pichai, Claude, OpenAI isn't Organizations: Service, Business, Tech, Microsoft, Apple, Google, Meta, ChatGPT, Chatbot Locations: Silicon Valley, GPT
But key challenges face the country as it looks to become the world's third-biggest AI hub. At the London Tech Week conference in the Olympia events venue earlier this month, tech executives from around the world touted London and the U.K. as a place to invest. London vs. FranceLondon is facing heated rivalry from France for the title of European AI leader. Can the UK keep its European AI crown? Seeking regulatory clarityAnother key source of uncertainty for tech leaders is the future of AI regulation in the U.K.
Persons: Mike Kemp, Alex Kendall, — Kendall, Wayve's, Brent Hoberman, Wayve, it's, Salesforce, Janet Coyle, Coyle, Arthur Mensch, Hanno Renner, that's, Europe's, CNBC's, Philip Belamant, Zilch, Matthew Holman, Cripps, Holman Organizations: Global, London Tech, Sage, Google, London, Partners, Viva Tech, Accel, CNBC, Mistral France Paris, Alpha, Alpha Germany Heidelberg, Face France Paris, France Paris, United, United Kingdom London, Kingdom London, Tech, European Union Locations: London, United Kingdom, China, Olympia, SoftBank, San Francisco, Vancouver . U.S, France London, France, Brazil, Silicon, Europe, Paris, Berlin, Alpha Germany, Germany, Brexit, Britain
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