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Check out the companies making headlines before the bell:Campbell Soup (CPB) – Campbell Soup beat estimates by 14 cents with adjusted quarterly earnings of $1.02 per share. Pinterest (PINS) – Pinterest rose 1.2% in premarket trading after an official from activist investor Elliott Management was added to the image-sharing website operator's board of directors. Carvana tumbled 18.2% in premarket trading. Dave & Buster's (PLAY) – Dave & Buster's shares slid 3.9% in premarket action even though its quarterly profit matched analyst estimates. Airbnb (ABNB) – Airbnb fell 3.8% in premarket trading after Morgan Stanley downgraded the stock to underweight from equal-weight.
MongoDB — The database platform surged almost 22% following the company's quarterly results. State Street — Shares of the asset manager jumped more than 8% after the company announced a new buyback plan. Toll Brothers — Shares of the luxury homebuilder rose 7% after the company reported quarterly results. Chinese tech stocks — Shares of U.S. listed China stocks declined even as Beijing announced it will lift some Covid restrictions. Airlines — Airline stocks fell as a group during midday trading.
MongoDB — The database platform surged about 26% in extended trading following the company's quarterly results. Mongo posted better-than-expected revenue for the most recent quarter and issued upbeat fourth-quarter revenue guidance, according to Refinitiv. Dave & Buster's — Shares of the restaurant and video arcade operator dropped 5% even after it posted better-than-expected revenue and posted earnings that were in line with estimates, according to Refinitiv. Toll Brothers — Shares of the luxury homebuilder rose 1% after hours following the company's quarterly results. Toll Brothers posted home sales revenue that was better than Wall Street expectations, according to Refinitiv.
Stock futures are trading up slightly Monday night as investors tried to shake the previous session's selloff. S&P 500 futures and Nasdaq-100 futures both gained 0.1%. Monday's close marked a negative start to the trading week. Market observers are still largely expecting a 50 basis point increase to interest rates at the Fed's December meeting. Investors will look ahead to data Tuesday morning on international trade for insight into the strength of the U.S. and global economy.
This is not the first crypto winter, as long-term fans of bitcoin can attest. “It is very clear that we as an industry need to build better products,” said Hany Rashwan, CEO of 21.co, a crypto investment firm. That’s about triple where prices were during the depths of the crypto bear market in the early pandemic days of 2020. Others point out that the underlying blockchain technology behind bitcoin and crypto remains solid. Pride and Reynolds added that it’s erroneous to think that bitcoin can hold up well during stock market volatility.
Driving the action were several key economic reports, including the November ADP employment and nonfarm payrolls reports and the October personal spending report. The comments came after a softer-than-expected ADP employment report, but before a stronger-than-expected nonfarm payrolls report. With these kinds of mixed signals, expect more market choppiness as investors remain on the hunt for more definitive signs that the Fed is winning its war on inflation and can therefore definitively ease up on their hawkish stance. Initial jobless claims for the week ending Nov. 26 were 225,000, a decrease of 16,000 from the prior week and below expectations of 235,000. Finally, on Friday the all-important nonfarm payrolls report was released, indicating a 263,000 payrolls increase in November, above the 200,000 expected.
Markets could be volatile and in search of a catalyst in the week ahead, as investors consider year-end trades in the lull before the Federal Reserve's December 13-14 policy meeting. Stocks were higher in the past week, with the year's worst performing sectors, communications services and consumer discretionary companies, leading the gains. On the geopolitical front, Arone said investors will watch the Dec. 6 runoff election in Georgia's senate race . Week ahead calendar Monday Earnings: Sumo Logic , Gitlab 9:45 a.m. Services PMI 10:00 a.m. ISM services 10:00 a.m. Initial jobless claims 10:00 a.m. Quarterly services survey Friday 8:30 a.m. PPI 10:00 a.m. Consumer sentiment 10:00 a.m. Wholesale trade
The Unless shoe, which will retail for $139, was made in partnership with Natural Fiber Welding, which makes various materials from natural products, including plants and minerals. While other brands, including Allbirds and Camper, have worked with Natural Fiber Welding, Unless is the first to build a shoe from top to bottom with its materials. "What's unique about what Eric has done in the footwear industry is paid attention to every single component of the shoe," Natural Fiber Welding President Steve Zika told Insider. In April, Natural Fiber Welding announced an $85 million Series B investment round. Its investors include industry giants such as Ralph Lauren and Allbirds.
Gem: 100A maker of recruiting software, the startup cut a third of its workforce Nov. 1, The Information reported. HealthCare.com: 149The health insurance marketplace announced the job cuts Aug. 3, Miami Inno reported, citing state regulatory filings. Fabric: 120The robotics startup said July 13 that it was layoffing off 40% of them, TechCrunch reported, citing company confirmation. It affected about 300 people, the Silicon Valley Business Journal reported, citing company confirmation. Policygenius: 170The online insurance company cut about 25% of its staff, Axios reported June 6, citing company confirmation.
RIAs are solving the problem of limited tech integration by creating their own overlay tools. An abundance of wealth management-focused fintechs to choose from combined with a lack of integration between systems has led some advisory firms scrambling to piece them all together. In turn, the company decided to make that a value proposition by taking customers' data and entering it into a database for them. Once those customers created a Redshift data warehouse, they then could connect with Orion's warehouse and pull their data from there. Orion met with AWS' strategic-partnerships team and walked them through their use cases of applying Redshift technology.
Ordergroove makes software that brands and retailers use to sell their products via subscriptions. Ordergroove helps brands build long-term rapport with customers through subscriptions and memberships. "When I started Ordergroove, there were three retailers at the time doing subscriptions: Amazon, QVC, and Petco," Alvo said. 'We just want our customers to be successful'The needs of Ordergroove's customers have changed in recent decades. Recharge similarly sells subscription management software and has raised $277 million in venture funding since it was founded in 2014.
Billie Jean King defeating Bobby Riggs in the Battle of the Sexes marked a historic moment for women's tennis, and sport. It’s their job now to step up, lead and shape the future.”Billie Jean King worked with fashion designer Tory Burch on the Billie Jean King Cup's 'winner's jacket.' Magazine IAnd inside the jacket, to remind the champions of the Billie Jean King Cup of the ‘fight’ and their place in it, is a message from King herself. “Congratulations on winning the 2022 Billie Jean King Cup,” King reads aloud. Billie Jean King, be bold.”
Florida's first lady, Casey DeSantis, is a close confidant to her powerful husband, several people told Insider. He added, "We would not see Ron DeSantis outside of press conferences if he did not have a wife and kids." Ron DeSantis began clawing his way into the national spotlight in 2017 as a member of the US House of Representatives. She smiled wryly and said: "Everyone knows my husband, Ron DeSantis, is endorsed by President Trump, but he's also an amazing dad. "Ron DeSantis would be a very good candidate for the St. Johns county commission if he did not have Casey DeSantis in his life," Schorsch said.
[1/5] Likud party leader Benjamin Netanyahu waves as he addresses his supporters at his party headquarters during Israel's general election in Jerusalem, November 2, 2022. REUTERS/Ammar AwadJERUSALEM, Nov 2 (Reuters) - Israel's former premier Benjamin Netanyahu appeared set to return to power on Wednesday, saying his right-wing camp was on the cusp of a great election win, after exit polls predicted his bloc gaining a slim parliamentary majority. "We have won a huge vote of confidence from the people of Israel," a smiling Netanyahu told cheering supporters at his Likud party election headquarters. As actual results began trickling in, Lapid stopped short at conceding the election and said he would wait until the final count. Exit polls late on Tuesday predicted his camp would take 53-54 Knesset seats, far behind Netanyahu.
LONDON, Oct 31(Reuters) - Sterling fell on Monday, but was still headed for its largest monthly gain in over a year after the turbulence in British politics over the last few weeks finally appeared to subside. The Bank of England is likely to raise interest rates by another 75 basis points when it meets later this week. Hunt has ditched almost all the proposals in Truss's plan, returning a semblance of stability to UK markets and toning down a lot of the hawkishness around rate expectations. UK interest rates are currently expected to peak at around 4.87% in September next year, up from 2.25% right now. In the aftermath of Truss's so-called mini-budget, UK money markets showed traders expected rates to peak above 6% next September.
Benin has in the last few years become Africa's leading cotton producer, with annual production of 728,000 tonnes in 2020/21, according to government figures. Register now for FREE unlimited access to Reuters.com Register"We have decided that in this country, we are no longer going to sell this cotton raw. We are going to transform this cotton, in particular by installing integrated textile factories," said Letondji Beheton, managing director of the Glo-Djigbe Industrial Zone (GDIZ), about 45 km from Cotonou. 1/6 People work at a shirt-making factory in the Glo-Djigbe Industrial Zone (GDIZ) in Abomey-Calavi, Benin October 13, 2022. Although the systems are not yet in place to get cotton from field to factory, GDIZ has started training about 1,000 garment workers using imported materials for now.
Rupert Murdoch’s odd reunion simplifies succession
  + stars: | 2022-10-17 | by ( Jennifer Saba | ) www.reuters.com   time to read: +3 min
NEW YORK, Oct 17 (Reuters Breakingviews) - Rupert Murdoch is seeking to stitch his empire back together again. The media mogul’s family trust wants to reunite News Corp (NWSA.O) and Fox (FOXA.O) almost a decade after they split. The boards of News Corp and Fox said Friday they had formed special independent committees to explore a potential merger. Rupert Murdoch and his family trust control approximately 42% of voting shares in Fox and 39% of voting shares in News Corp. The companies split in 2013.
These retail chains may not survive a recession
  + stars: | 2022-10-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +4 min
New York CNN Business —America’s retail chains have proven surprisingly strong during the pandemic. At the beginning of the pandemic, stores temporarily closed to halt the spread of Covid-19 and retail sales tumbled. “That wave of defaults effectively flushed out a lot of debt and unprofitable stores from the sector,” Sokolyanska said. Retail sales quickly recovered thanks to federal stimulus checks, growing personal savings accounts and pent-up consumer demand. Retail sales remain above pre-pandemic levels and more stores have announced openings than closings this year.
As third-quarter earnings season gets underway, investors will be missing a good chunk of the action if they ignore guidance for the fourth quarter. Paint and coatings producer PPG Industries said " sales volume declines were most pronounced in September" and it expects difficult conditions to continue into the fourth quarter. Fourth-quarter earnings estimates for the S & P 500 have already been reduced in half since July 1 – which was just before the start of the second-quarter earnings season. Take a look at what happened during the just-completed Q2 earnings season. That's why it's important to watch what happens with the forward-looking fourth-quarter estimates this earnings season.
Deutsche Bank reiterates Nike as buy Deutsche said it's standing by shares of Nike heading into earnings next week. Canaccord downgrades Stitch Fix to neutral from buy Canaccord downgraded the online personal styling service after the company's disappointing earnings report. " Goldman Sachs upgrades Estee Lauder to buy from neutral Goldman said in its upgrade of the stock that investors should buy the weakness. Deutsche Bank reiterates Costco as buy Deutsche said it sees upside potential heading into earnings on Thursday. " Bank of America reiterates Apple as buy Bank of America said its survey checks on Apple show that carrier promos are driving more consumers to upgrade iPhones.
Check out the companies making headlines before the bell:General Mills (GIS) – General Mills shares gained 1.8% in the premarket after the food producer reported a better-than-expected quarterly profit and raised its full-year sales forecast. Stitch Fix (SFIX) – Stitch Fix slid 5.9% in premarket trading after reporting a wider-than-expected quarterly loss and issuing a weak forecast. Beyond Meat fell 1.1% in premarket trading on top of a 6% slide Tuesday, its sixth consecutive down day. Defense stocks – Shares of defense contractors are rising in the premarket after Russian President Vladimir Putin mobilized more troops to Ukraine in what's seen as a major escalation of the Ukraine war. Aurora Cannabis (ACB) – Aurora Cannabis reported a breakeven quarter, on an adjusted basis, surprising analysts who predicted a quarterly loss.
Stitch Fix — Stitch Fix was up about 12%, even after the company posted downbeat quarterly numbers. General Mills — Shares of the food producer jumped 7% after the company posted a better-than-expected quarterly profit. The company now sees adjusted EBITDA between $1.4 billion and $1.45 billion, below prior guidance of $1.475 billion and $1.575 billion. Sotera Health — Sotera Health shares dropped more than 7% after JPMorgan downgraded the company to underweight from overweight, citing risks from more than 700 outstanding trials. Coty — The stock rose 5.6% after the beauty company said it has a strategy to double skincare product sales by fiscal year 2025.
Buy Club holding Ford into any Fed weakness. Barclays downgrades Club holding and Dow stock Cisco Systems (CSCO) to equal weight from overweight (hold from buy). Wells Fargo cuts PT to $75 tom $90 but keeps overweight (buy) rating. However, BofA keeps buy rating on Visa. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Anxious investors are piling into hedge funds
  + stars: | 2022-09-20 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com   time to read: +7 min
London (CNN Business) For years, the climate for hedge funds was tough. That's boosting interest in hedge funds, through which professional investors try to beat the market by deploying less-conventional approaches. Investors trying to capitalize on turmoil in commodity markets have done particularly well, according to Robert Sears, chief investment officer at Capital Generation Partners, which invests in hedge funds for wealthy families. "Until we get into the cycle of earnings going down and the Federal Reserve starting to ease policy, really you're set for an environment when hedge funds should do quite well," Sears told me. Investors see an 80% probability that the Fed will hike interest rates by three-quarters of a percentage point on Wednesday.
As such, experts' forecasts for the Fed's key short-term rate after the November meeting range from 3.5% to 4%. In other words, the Fed's rate hikes could ultimately lead to the economy cooling off more than the central bank would like. Too many big rate hikes risk "sending the economy into a mild recession," Chubb said. What's more, other central banks, mainly the European Central Bank, are likely to step up the pace and size of rate increases as well. "Major central banks still have work to do on inflation, including the Fed and the ECB.
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