DIRS.INFO The most relevant business & tech news

☆ China to resume issuing visas for foreigners starting March 15
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +1 min

March 13 (Reuters) - China will begin re-issuing various categories of visas to foreigners from March 15, the Chinese Embassy in the United States said on Monday, as the country continues to re-open its borders after three years of COVID-19 containment measures. In a statement, the embassy said China will also lift visa restrictions for various locations, including Hainan Island and cruise ships passing through Shanghai port. Visa-free entry to Guangdong for foreigners from Hong Kong and Macao will also be resumed, the embassy said. China, which dismantled its zero-COVID-19 policy in December and opened its borders a month later, has seen a sharp increase in travel over the past two months. The country's leaders had signalled victory over a recent COVID-19 surge that gripped the country for months.

☆ U.S. plans to lift Covid testing requirements for travelers from China
▼ + stars: | 2023-03-08 | by ( Sally Bronston | Zoë Richards | ) www.cnbc.com time to read: +2 min

The U.S. plans to lift a Covid testing requirement for travelers from China put in place earlier this year, a source familiar with the matter said Tuesday. The U.S. began requiring pre-departure negative Covid tests for travelers ages 2 and up flying from China on Jan. 5. The policy followed a surge in coronavirus cases in China after it ended its strict "Covid-zero" policy in December. China has repeatedly been accused of undercounting Covid-related deaths. After the Covid travel policy was implemented in January, U.S. officials have seen evidence that cases, hospitalizations and deaths in China are declining, sources familiar with the decision to lift the testing requirement said.

☆ US set to lift COVID-19 testing requirements for travelers from China - source
▼ + stars: | 2023-03-08 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

WASHINGTON, March 7 (Reuters) - The U.S. Centers for Disease Control and Prevention (CDC) is set to end on Friday mandatory COVID-19 tests for travelers from China, joining other countries in dropping the requirements, a source briefed on the matter told Reuters. The source told Reuters the United States would continue to monitor cases in China and around the world. The United States in early January joined India, Canada, Italy, Japan and other countries in taking new measures after Beijing's decision to lift stringent zero-COVID policies. The United States in December expanded its voluntary genomic sequencing program at airports, adding Seattle and Los Angeles. TGS will continue to monitor flights from the China and regional transportation hubs, as well as flights from more than 30 other countries, the source said.

☆ Beware these stocks with high leverage as a potential recession looms, Wolfe Research says
▼ + stars: | 2023-03-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Concerns of an impending recession have become paramount in corporate America after the Federal Reserve began raising interest rates in a bid to cool inflation. Given this environment, Senyek screened for stocks that could be most vulnerable as interest rates rise and the economy slows. Norwegian Cruise Line also made the list, but for its estimated floating debt rate. TransUnion also raised a red flag for its 98% estimated floating debt rate. Despite the floating debt rate and lackluster earnings forecast, others are still optimistic about the credit reporting agency.

☆ All-weather stocks that can outperform in any economic 'landing,' according to Evercore ISI
▼ + stars: | 2023-03-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

As investors weigh the possibility of a U.S. recession or a soft landing, there are certain stocks that should outperform in either scenario, according to Evercore ISI. However, Evercore ISI is among those on Wall Street that have a base-case scenario of a recession in the second half of the year. The other is what he calls " valmentum stocks " — value stocks with momentum — that have high free-cash-flow yield and strong earnings-per-share momentum, he added. Booking Holdings is one of Evercore ISI's valmentum stocks and could rally about 15% from Friday's close, according to the firm's price target of $3,000. Wynn is up more than 40% year to date, while Las Vegas Sands stock has gained more than 26%.

☆ Taiwan is paying tourists to visit—here's what you need to know
▼ + stars: | 2023-03-06 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Places like Hong Kong and regions in Italy have turned to offering free travel and even free houses to encourage people to visit and to help boost their economies. The government is offering tourists 5,000 New Taiwan dollars (about $163 USD) per traveler or NT$20,000 (about $653 USD) for up to 90,000 tour groups. Taiwan is focusing on attracting more visitors from places like Japan, South Korea, Southeast Asia, Hong Kong and Macao, Europe, and the U.S. According to the Taiwan Tourism Bureau, it saw under 900,000 visitors in 2022 compared to a record 11.8 million international tourists in 2019. It's still unclear when and how Taiwan will start distributing the digital tourist cards, as the government hasn't yet released its plan.

Generative AI boost for Nvidia NVDA 1Y mountain Nvidia (NVDA) 1-year performance Nvidia (NVDA) was the Club's biggest winner in January, climbing 33.7%, and in February its 18.8% monthly gain is second to only Bausch Health (BHC). The stock's exceptional performance this year goes much deeper to company-specific factors — specifically, all the buzz around generative artificial intelligence (AI). "AI adoption is at an inflection point," Nvidia CEO Jensen Huang said on the chipmaker's earnings conference call last week. Bausch bounces, but questions remain BHC 1Y mountain Bausch Health (BHC) 1-year performance Bausch Health (BHC) has had an incredible start to the year, climbing roughly 21% in both January and February. Efficiency commitment lifts Meta META 1Y mountain Meta Platform (META) 1-year performance Meta Platforms (META) has really turned it around, gaining roughly 24% in January and over 17% in February.

☆ Hong Kong to scrap Covid mask mandate from March 1
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: +1 min

The Central MTR subway station on May 21, 2021 in Hong Kong. The special administrative region of Hong Kong is one of the last places globally that still imposes a mask mandate. Hong Kong and Macao both followed China's zero-Covid policy for much of the past three years. Hong Kong started unwinding its stringent Covid rules last year but mask-wearing has remained constant since 2020. It is a clear message to show Hong Kong is resuming normalcy," Lee said.

☆ Here's our Annual Meeting update on 9 consumer names in the Club portfolio
▼ + stars: | 2023-02-27 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Here's an update on our consumer discretionary and consumer staples stocks in Jim Cramer's Charitable Trust, the 35 holdings that make up the CNBC Investing Club's portfolio. TJX Companies (TJX): TJX is a winner in a slower economy as shoppers love the treasure-hunting experience for cost-saving deals. If their stores have excess inventory, that could serve as a catalyst for TJX stock to go higher. Constellation Brands (STZ): Consumer demand for Constellation's premium alcoholic beverages is strong even as inflation weighs on consumers since people continue to drink beer in an economic slowdown. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Barclays says buy MGM, a 'premium diversified global gaming operator' with nearly 40% upside
▼ + stars: | 2023-02-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

It's time for investors to bet on shares of MGM Resorts International , according to Barclays. Analyst Brandt Montour initiated coverage of the casino operator with an overweight rating, saying that shares should benefit from a recovery in Macao and continued strength in the Las Vegas market. MGM YTD mountain Shares have rise nearly 29% year to date MGM shares have surged nearly 29% after tumbling more than 25% in 2022. Compared to U.S. regional casinos, Montour expects Las Vegas to better weather a softening economy this year, which should bode well for MGM. MGM's "iGaming position is second to none, a business we are bullish on over the next 2-5 years," Montour said.

☆ Standard Chartered plans hiring spree in Hong Kong as it sees a 'pickup' after Covid
▼ + stars: | 2023-02-21 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Standard Chartered is going on a hiring spree in Hong Kong this year, in a sign of renewed confidence in its biggest market as the city reopens its border with mainland China. The British bank said it would add 300 to 500 employees to its ranks of roughly 5,500 to 5,800. Standard Chartered (SCBFF) Hong Kong CEO Mary Huen said the new recruitment drive would position the bank to capitalize on the reopening of the city’s border with mainland China. China fully reopened its borders with its special administrative regions of Hong Kong and Macao this month, in what is expected to be a major boost for the economies of the two cities. Hong Kong is also its biggest market.

☆ Top Wall Street analysts are bullish on these 5 stocks
▼ + stars: | 2023-02-19 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +6 min

Here are five stocks chosen by Wall Street's top analysts, according to TipRanks, a platform that ranks analysts based on their past performances. Santarelli also noted that the stock's valuation is reasonable, as the company is still in the early stages of the Macao recovery cycle. (See Wynn Blogger Opinions & Sentiment on TipRanks) Santarelli's recommendation is worthy of consideration as he ranks 26th among more than 8,000 analysts tracked by TipRanks. (See CMG Insider Trading Activity on TipRanks)Meta PlatformsSocial media behemoth Meta Platforms (META) is next on our list. Moskowitz holds the 236th position among more than 8,000 analysts on TipRanks.

☆ Jim Cramer's top 10 things to watch in the stock market Thursday: Disney delivers, market rally back, another activist in Salesforce
▼ + stars: | 2023-02-09 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

The outlook for Club holding Wynn Resorts (WYNN) hasn't been this good since the Covid pandemic started. I've been saying more needs to be done to right the ship at this Club holding. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Wynn CEO on consumer outlook, return of Macao and a casino in the Middle East
▼ + stars: | 2023-02-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWynn CEO on consumer outlook, return of Macao and a casino in the Middle EastCraig Billings, Wynn Resorts CEO, joins 'Halftime Report' to discuss the company's earnings and consumer outlook.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Hong Kong's new global promotional campaign will "kickstart" the city's reopening to international travelers, the Hong Kong Tourism Board told CNBC's "Squawk Box Asia" on Friday. As part of the "Hello Hong Kong" campaign, which was launched on Thursday, 500,000 air tickets will be given away over the next six months, starting in March. The tickets will be given out through three Hong Kong's carriers — Cathay Pacific, HK Express and Hong Kong Airlines. "[But] you want to kickstart and … tell the world in a clear message that Hong Kong and then mainland — we have finally reopened." Some 80,000 tickets have also been reserved for Hong Kong residents which authorities aim to give out in the summer.

Hong Kong CNN —China will fully reopen borders with its special administrative regions of Hong Kong and Macao next week, in what is expected to be a major boost for the economies of the two cities. From Monday, travelers entering mainland China from Hong Kong or Macao will no longer need to provide proof of negative Covid tests, as long as they have not traveled abroad in the previous week, the State Council’s Hong Kong and Macao Affairs Office said in a Friday statement. Hong Kong is a major international financial center, and, before the pandemic, Macao was the world’s casino capital. Over the past three years, limited cross-border travel to mainland China has been listed as the top concern for businesses across the city, according to industry groups. Businesses began seeing some relief last month, when residents of Hong Kong and mainland China were permitted to resume two-way, quarantine-free travel.

☆ JPMorgan says Hong Kong shares to rebound in February and names 5 stocks to own
▼ + stars: | 2023-02-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

JPMorgan named five stocks it recommends to buy amid an expected rise in the broader Chinese stock market during February. The investment bank said it "remains bullish" on Macao casino operator Sands China and Galaxy Entertainment , and Hong Kong retail landlords Wharf REIC , LINK and Fortune REIT . Strategists at the Wall Street bank attributed last week's sell-off in Hong Kong listed shares as profit-taking by some investors. They also said the broader market rotate into "quality laggards in consumption as well as value cyclical and growth spaces." However, JPMorgan's Kim said analysts' expectations are due to jump higher on the positive data points.

☆ These stocks have been hit the hardest by Fed rate hikes — now they could rally if there's a pause
▼ + stars: | 2023-01-31 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

To find such names, CNBC Pro looked back at the stocks that were hit the hardest in the five trading days after each of last year's Fed rate hikes, starting with the first quarter point increase last March. Of those, we took the worst median performance within that five-day period for each of 2022's seven rate hikes. Warner Bros Discovery tops the list, losing a median 10.7% after the Fed rate hikes (bearing in mind the present company was put together in early April last year.) Chipotle Mexican Grill was also hit in the wake the Fed's rate increases, losing a median 6.9% overall. Overall, the electrical vehicle leader lost a median 6.8% in the week following last year's Fed rate hikes.

The world’s biggest luxury group logged revenue of €79.2 billion ($86.2 billion) and profit of €21.1 billion ($22.9 billion) for 2022, both up 23%. And in the coming months, “we have every reason to [be] confident, indeed optimistic, on the Chinese market,” LVMH (LVMHF) CEO Bernard Arnault said on a conference call. “In Macao, where Chinese can now travel to, the change is quite spectacular. He predicted, though, that Chinese tourists would not return in large numbers until at least the second half of the year. The removal of Chinese travel restrictions will likely also boost sales in overseas tourist destinations, the company added.

☆ China's reopening could boost global growth — and worsen inflation
▼ + stars: | 2023-01-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN —China’s swift reopening after nearly three years of strict coronavirus controls could provide a much-needed boost to global economic growth, but may also stoke inflation just as it has shown signs of falling back. The revival of the world’s second largest economy — and its biggest consumer of commodities — threatens to push up global prices for fuel, industrial metals and food this year. The speed of the reopening, as well as indications that infections may have already peaked, has been surprising, analysts told CNN. Yet, if global food and energy prices start rising again, that could feed through into higher consumer prices. China’s reopening could bump up demand for agricultural goods, while the world is still in the grips of the worst food crisis in modern history.

☆ Here's where mainland Chinese traveled overseas for the Lunar New Year
▼ + stars: | 2023-01-27 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Travelers from mainland China stuck close to home in Asia during the Lunar New Year, the first holiday after Beijing relaxed its Covid-related border controls. Hong Kong and Macao were the most popular spots, said Trip.com, citing flight bookings on its platform for the first four days of the Lunar New Year. Here are the next three most popular overseas destinations for mainland travelers, according to Trip.com:3. Phuket, ThailandFlight bookings for travel from the mainland to overseas destinations during the first four days of the holiday quadrupled from a year ago, Trip.com said. However, Japan and South Korea — both popular among Chinese tourists — subsequently imposed temporary restrictions on travelers from China, including limits on visas and quarantining Covid-positive individuals.

☆ Jim Cramer's top 10 things to watch in the market Thursday: GDP beat, Tesla records, Macao recovery
▼ + stars: | 2023-01-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +5 min

Credit Suisse cuts price target on Club holding to $285 per share from $365. On the Tesla earnings call, Musk also defends his ownership of Twitte r. Says he's not worried about Tesla brand and reputation due to his political tweets. LVS price target raised to $65 from $53. Oppenheimer out with a hilarious Alphabet (GOOGL) price target cut to $130 per share from $135; keeps outperform (buy) rating. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Stocks making the biggest moves midday: Chevron, Tesla, Seagate Technology, United Rentals and more
▼ + stars: | 2023-01-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

Analysts called for earnings of 10 cents per share on $1.83 billion in revenue, according to Refinitiv. Though United Rentals missed analysts' expectations for per-share earnings, it was in-line with Wall Street's forecasts for revenue, per FactSet. The company forecasted 2023 revenue to range between $13.7 billion and $14.2 billion, surpassing analysts' estimates, according to FactSet. Sherwin-Williams earned an adjusted $1.89 per share last quarter, topping estimates by 2 cents, according to Refinitiv. Tractor Supply's EPS came in at $2.43 versus analysts' estimate of $2.35 per share, according to Refinitiv.

☆ Stocks making the biggest moves premarket: Southwest, Tesla, Las Vegas Sands and more
▼ + stars: | 2023-01-26 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Tesla — The electric-vehicle maker soared 7% after reporting record revenue and an earnings beat. Wall Street analysts cited upbeat comments about its reopening in Macao on the company earnings call for their positive outlook on the stock. Levi Strauss topped analysts' revenue estimates and beat earnings projections by 5 cents a share. Total segment revenues fell short of expectations, while distributable earnings beat estimates by 12 cents a share. American Airlines — The airline gained 1.5% after its fourth-quarter profits beat Wall Street's expectations, thanks to strong holiday demand and high fares.

Search resuls for: "Macao"

25 mentions found