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☆ A major student-loan company is once again at the center of a lawsuit blocking debt cancellation for millions of borrowers
▼ + stars: | 2024-09-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Even with the financial burden his student debt has brought him, Larry said he has tried to remain optimistic about the prospect of debt relief, given President Joe Biden and Vice President Kamala Harris' actions during their term. Larry and millions of other student-loan borrowers will have to keep waiting. It's the same argument a different group of GOP states used that led the Supreme Court to strike down Biden's first attempt at broad debt relief last summer. Their arguments are based on internal documents the states obtained from the Education Department to federal student-loan servicers regarding preparation to implement its second try at broader debt relief. According to the documents, the Education Department sent a memo to MOHELA saying, "In September of 2024, the Biden-Harris Administration will launch the Federal Student Loan Debt Initiative."

Persons: missouri Larry, bachelor's, Larry —, —, Larry, Joe Biden, Kamala Harris, I've, they've, I'm, Biden, Biden's, Luke Herrine, Herrine, Harris, Sen, Bill Cassidy, MOHELA, he's Organizations: Service, Business, Higher, University of Alabama, GOP, Department of Education, Education Department, Biden, Harris Administration, Federal, Loan, Initiative, Department, Republican Locations: missouri, Georgia's, Missouri, Missouri , Georgia, Alabama , Arkansas, Florida, North Dakota, Ohio

☆ Japanese chip equipment firms count on China sales amid U.S. moves to block high-end exports to Beijing
▼ + stars: | 2024-09-06 | by ( Anniek Bao | In | ) www.cnbc.com time to read: +1 min

That share increased to nearly 50% in the first quarter of financial year 2025 compared with 39.3% in the same period last year. Screen Holdings , meanwhile, generated as much as 43% of its total sales from China in the financial year ended March 2024, up from 19% in financial year 2023. That share rose to 51% in the first quarter of the current financial year from 23% in the same period last year. The company expects China sales share to be at 41% for the fiscal year ending in March 2025. The large business of Japanese chip companies in China underscores the challenge that the U.S. ally faces in balancing White House's demands with its domestic economic interests.

Persons: Yuichi YAMAZAKI, YUICHI YAMAZAKI Organizations: Tokyo University, Getty Images, U.S ., Tokyo, Screen Holdings, Department of Commerce Locations: Tokyo, AFP, China, U.S

☆ The Kansas City Chiefs are the NFL’s current dynasty — here's why they are worth less than teams that regularly miss the playoffs
▼ + stars: | 2024-09-06 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +3 min

The Kansas City Chiefs, the NFL's current dynasty, are only the 18th most valuable team in the league at $6.07 billion, according to CNBC's Official 2024 NFL Team Valuations. The bulk of a team's revenue in a given season comes from the ballooning media rights fees that the NFL charges for its games. Contrast that with leagues like the NBA and NHL, where clubs receive a much bigger cut of playoff ticket revenue. Stadium ownership and operating rights are also a lucrative source of revenue for NFL teams. Perennial playoff teams can also be more attractive to sponsors because they can almost guarantee that thousands of additional people will be in their stadiums every year.

Persons: Jerry Jones, Jones, Lamar Hunt, — Organizations: NFL, Kansas City Chiefs, New York Jets, Denver Broncos, Chiefs, NBA, NHL, Dallas Cowboys, T, Jackson, Sports, Authority, Cowboys, Los Angeles Rams, Las Vegas Raiders, Baltimore Ravens Locations: Arrowhead, Jackson County , Missouri

☆ Stocks making the biggest moves midday: Intel, Nio, Super Micro Computer and more
▼ + stars: | 2024-09-06 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Super Micro said in late August that it would delay the release of its annual 10-K filing. DocuSign — Shares of the software company rose around 4% after fiscal second-quarter results topped expectations, fueled by strong subscription growth. Guidewire Software — The software stock jumped 12.4% thanks to the company's fiscal fourth-quarter beat. UiPath — The software stock slid 6% amid the tech-led market sell-off Friday. Intel , Mobileye — Shares of autonomous driving tech company Mobileye slumped 8.5%.

Persons: Nio, LSEG, Guidewire, UiPath, UiPath's, FactSet, Yun Li, Alex Harring, Jesse Pound, Michelle Fox, Lisa Han, Sean Conlon Organizations: JPMorgan, Micro, Intel, Bloomberg, Semiconductor, VanEck Semiconductor, Nvidia, KLA Corporation, Marvell Technology, ASML Locations: —, Mobileye

☆ Roblox will let developers sell games for real dollars as it expands beyond virtual currency
▼ + stars: | 2024-09-06 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

The New York Stock Exchange welcomes executives and guests of Roblox in celebration of its direct listing, March 10, 2021. Roblox , the popular kid's gaming platform that generates billions of dollars a year in the virtual world, is getting real. The company said on Friday that some game developers on the platform will be able to charge users real money rather than relying on payments through Roblox's digital currency called Robux. Game creators can now more easily sell to users without dealing with an intermediary virtual currency. It's part of the company's ambitious plans to facilitate 10% of all global gaming content sales through the Roblox platform and reach 300 million daily active users.

Persons: Manuel Bronstein Organizations: New York Stock Exchange, Roblox Locations: San Jose , California

☆ Stocks making the biggest moves premarket: Bowlero, UiPath, Broadcom and more
▼ + stars: | 2024-09-06 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

The higher end of the company's revenue outlook for fiscal 2025 was also above estimates. UiPath — The stock rose more than 8% following the software company's better-than-expected second-quarter results. Broadcom — Shares of the chipmaker fell 7% after the company's revenue guidance for the current quarter was less than expected . Guidewire Software — Shares jumped more than 7% after the company surpassed the Street's expectations. Samsara estimated adjusted earnings of between 16 cents and 18 cents per share and revenue of $1.224 billion to $1.228 billion.

Persons: UiPath, Smartsheet, Guidewire, FactSet, —, Jesse Pound, Sarah Min, Michelle Fox Theobald Organizations: Broadcom —, Broadcom, Reuters, Blackstone, JPMorgan Locations: Vista

☆ Rising NFL valuations mean massive returns for owners. Here's how good the investment is
▼ + stars: | 2024-09-05 | by ( Michael Ozanian | ) www.cnbc.com time to read: +7 min

watch nowA National Football League team today is a $6.5 billion business. That is the average value of the NFL's 32 franchises, according to CNBC's Official 2024 NFL Team Valuations. Across the past 10 NFL teams to be sold, seven of the 10 outperform the S&P 500 on a percentage-gained basis in the period since the sale. Rising valuationsThe escalation in football team values is largely the result of the league's massive and growing media deals. The typical NFL team has an EBITDA margin of 19%.

Persons: Robert McNair, That's, Peacock, Taylor Swift, Allen J, Tampa Bay's Raymond James, Ryan Flournoy, Matt Hankins, Ron Jenkins, Rob Walton, Josh Harris, Jerry Jones, Jones Organizations: National Football League, Pro, Houston Texans, NFL, Texans, Super, Washington, Denver Broncos —, Miami Dolphins, Comcast, Disney, Paramount, Fox, YouTube, NFL Sunday, Amazon Prime, Thursday, Netflix, CNBC, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Kansas City Chiefs, Los Angeles Times, Getty, Tampa, New England's Gillette, Lincoln Financial, Dolphins, Dallas Cowboys, Los Angeles Chargers, T, Denver Broncos, Tampa Bay Buccaneers, Cowboys, The Cowboys, Dallas Locations: U.S, Chicago, Green Bay ; Wisconsin, Buffalo , New York, New York, Los Angeles, Inglewood , California, Arlington , Texas

☆ Mark Cuban says Harris won't tax unrealized capital gains: 'Not going to happen'
▼ + stars: | 2024-09-05 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president. Cuban, who says he speaks with Harris' team frequently, maintained to CNBC that she is not interested in taxing unrealized gains. He cautioned, "I'm not going to speak for the vice president, she makes the final decision." Harris, who took over the Democratic ticket less than four months before Election Day, has not explicitly ditched the plan to tax unrealized gains. Harris, said Cuban, is "starting from the Biden plan as a starting point, but that's not necessarily her ending point."

Persons: Mark Cuban, Kamala Harris, I've, it's, Harris, I'm, Biden, Cuban's, Joe Biden, that's, Donald Trump Organizations: Democratic, CNBC, Republican, Democrat, Biden

☆ Stocks making the biggest moves after hours: Broadcom, DocuSign, UiPath and more
▼ + stars: | 2024-09-05 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

DocuSign's adjusted earnings of 97 cents per share for the second quarter exceeded analysts' expectations of 80 cents per share, according to LSEG. Broadcom said it sees $14 billion of revenue for the fiscal fourth quarter , while analysts called for $14.04 billion, per LSEG. Bowlero's fiscal fourth-quarter revenue came in ahead of estimates at $283.9 million, while analysts called for $273.4 million, per FactSet. Analysts polled by LSEG anticipated 13 cents per share in earnings and revenue of $1.21 billion. Adjusted earnings for the fiscal second quarter came in at 44 cents per share, while revenue was $276.4 million.

Persons: LSEG, UiPath, FactSet, —, Darla Mercado Organizations: Broadcom, Reuters

☆ Why Cramer advises against running out to buy Nvidia's post-earnings stock dip
▼ + stars: | 2024-08-28 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

Jim doesn't see a need to step in first thing Thursday morning and buy the dip. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. Quarterly commentary During Nvidia's fiscal second quarter, better-than-expected sales were driven by strength in all key segments, including a Data Center segment revenue record. Regarding China, Kress said, "Data Center revenue in China grew sequentially in Q2 and is a significant contributor to our Data Center revenue. Guidance Taking a closer look at guidance, Nvidia's fiscal third quarter may not have beaten the Street's estimates by the magnitude some were hoping for, but it's far from disappointing.

Persons: Lindy, Triple Lindy, Jensen Huang, Hopper, Blackwell, Jim Cramer, Jim doesn't, Colette Kress, Kress, it's, inferencing, ChatGPT, Cloud prem, Nvidia Isaac, Jim Cramer's, Jim, Andrej Sokolow Organizations: Nvidia, Revenue, Triple, Moore's, Hopper, Blackwell, Amazon Web Services, Google, Enterprise, Devices, Intel, Apple, Data Center, Networking, Management, Data, Centers, Automotive, Siemens, Nvidia Blackwell, Mercedes, Benz, Nvidia Omniverse, CNBC, Getty Locations: China, Boston, Silicon Valley

☆ Salesforce gets back on track — here's what the software giant needs to deliver next
▼ + stars: | 2024-08-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Salesforce shares jumped more than 4% in extended trading Wednesday after the enterprise software giant beat sales and earnings expectations in the second quarter. Salesforce Why we own it : Salesforce is a leading enterprise software tool for companies across all industries, helping employees to better communicate with colleagues internally and with their customers. Salesforce's new AI tools — which it is calling autonomous AI sales agents — may be the company's answer to this negative thesis. The next task for Salesforce is proving these new AI products will become a material driver of revenue growth. For the third quarter, Salesforce forecasts revenues of $9.31 billion to $9.36 billion, which is below the $9.4 billion estimate.

Persons: cRPO, —, Marc Benioff, It's, they're, Benioff, Salesforce, Brian Millham, Amy Weaver, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Revenue, LSEG, SAP, Microsoft, Salesforce, Club, Nvidia, Federal, Management, CNBC, Bloomberg, Getty Locations: Americas, San Francisco , California

☆ Trump budget would spike deficits by nearly 5 times Harris proposal, says Penn Wharton
▼ + stars: | 2024-08-27 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +1 min

Former President Donald Trump's economic proposals would increase federal deficits by $5.8 trillion over the next decade, almost five times more than those of Vice President Kamala Harris, which would add $1.2 trillion, according to a new pair of studies from the nonpartisan Penn Wharton Budget Model. The Trump report found that his plan to permanently extend the 2017 tax cuts would add more than $4 trillion to deficits over the next 10 years. His proposal to eliminate taxes on Social Security benefits comes with a $1.2 trillion price tag, while his pledge to further reduce corporate taxes would add nearly $6 billion. And her proposal to create a $25,000 subsidy for all qualifying first-time homebuyers would add $140 billion over a decade. Along with corporate tax hikes, Harris has said she supports the $5 trillion worth of revenue raisers contained in President Joe Biden's budget proposal for the 2025 fiscal year.

Persons: Donald Trump's, Kamala Harris, Trump, Harris, Joe Biden's Organizations: Penn Wharton Budget, Social Security

☆ Engaged Capital might have the recipe to build value for shareholders at Portillo's
▼ + stars: | 2024-08-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +5 min

The company was acquired by private equity firm Berkshire Partners in 2014 from the founder for approximately $1 billion. The non-Chicago locations have achieved AUVs of $6 million to $7 million, more than double quick service restaurants and fast casual industry averages. While Portillo's has much larger AUV than its peers, the company has an even larger average footprint than peers. Closing this gap will take significant capital allocation improvements, technology initiatives, marketing plans, real estate restructurings and operational advancements. Engaged is supportive of management and expects they will recruit a strong operator into the presently vacant COO role.

Persons: Portillo's, –, Ken Squire Organizations: Berkshire Partners, Berkshire, Management, NFL, Del, Shake, 13D Locations: Berkshire, Chicago, Portillo's, That's, Del Frisco's

☆ Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.

Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, —, Samantha Subin, Jesse Pound, Pia Singh Organizations: —, JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo

☆ Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.

Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau

☆ Streaming is getting more expensive for consumers. Here's why
▼ + stars: | 2024-08-16 | by ( Justine Fisher | ) www.cnbc.com time to read: +7 min

Now, looking for a return on their content investments, Disney , Warner Bros. Disney said last week that its combined streaming services — Disney+, Hulu and ESPN+ — were profitable for the first time during its fiscal third quarter. Ahead of earnings, Disney announced it's raising streaming prices by $1 to $2 a month for Hulu, Disney+ and ESPN+. Similar to Disney, Paramount Global said last week in its quarterly earnings conference call that its streaming business, centered on flagship service Paramount+, reached profitability. Discovery said during its second-quarter earnings conference call that streaming ad revenue doubled year over year.

Persons: Jaque Silva, Mike Proulx, Disney, Bob Iger, Iger, Discovery's Max, Comcast's Peacock, Gunnar Wiedenfels, Forrester's Proulx, Proulx, Discovery's Wiedenfels, Discovery, Tim Nollen, Ted Sarandos, Sarandos Organizations: Netflix, Disney, Warner Bros . Discovery, Forrester, Hulu, ESPN, Warner Bros, Paramount, Paramount Global, Discovery, Max, Hub Entertainment Research, Getty, Media, Macquarie, Westend61 Locations: Paramount's, Peacock

☆ Stocks making the biggest moves midday: Walmart, Nike, Dell, Tapestry and more
▼ + stars: | 2024-08-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +4 min

The firm owned more than 3 million shares of Nike at the end of June, a stake worth roughly $229 million, the filing disclosed. Dell — Shares climbed 7.1% after JPMorgan added Dell to its focus list, noting the potential for upside after a recent pullback. Tapestry adjusted earnings per share of 92 cents, versus analysts' estimates of 99 cents per share, per LSEG. Berkshire holds 132.9 million shares of Sirius XM versus 36.7 million previously. Earnings per share fell to $4.59 in the fiscal second quarter from $7.98 per share a year ago.

Persons: Bill Ackman's, Warren Buffett, Berkshire Hathaway, Ted Weschler, Todd Combs, Alibaba, FactSet, Robinhood, Yun Li, Samantha Subin, Michelle Fox, Pia Singh, Alex Harring, Sean Conlon, Jesse Pound Organizations: Walmart, Nike, Bill Ackman's Pershing, Capital Management, Berkshire, Dell, JPMorgan, Citi, Cisco Systems, Cisco, Deere, Bros, UBS, Deutsche Bank, Lumentum Holdings, Sirius XM Holdings, Sirius XM, Management

☆ Stocks making the biggest moves after hours: Alphabet, Flutter, Nu Holdings and more
▼ + stars: | 2024-08-13 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Flutter Entertainment — Shares of the gaming company surged more than 10% after a stronger-than-expected report for the second quarter. The parent company of Fanduel reported $3.61 billion in revenue, topping the $3.40 billion expected by analysts, according to LSEG. Nu Holdings — Shares of the Brazil-based financial firm climbed about 4% after a stronger-than-expected second quarter. Ibotta — The tech stock fell almost 9% after a wider-than-expected loss for the second quarter. Ibotta reported a loss of $1.32 per share, compared with an estimated loss of 85 cents per share, according to LSEG.

Persons: Draftkings, Mercury, Ibotta Organizations: Bloomberg News, Justice Department, Nu Holdings, . Mercury Systems Locations: U.S, Illinois, Brazil

☆ Here are Tuesday's biggest analyst calls: Netflix, Amazon, Lyft, CrowdStrike, Dell, Disney, Hormel, Eli Lilly, Home Depot & more
▼ + stars: | 2024-08-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Tuesday: Wells Fargo initiates Rollins as overweight Wells says it's bullish on shares of the pest control company. Goldman Sachs reiterates Disney as buy Goldman said it's sticking with its buy rating following Disney's biennial D23 fan event in California. " Wells Fargo initiates ITeos Therapeutics at overweight Wells said in its initiation of coverage into ITeos that the biotech company has multiple catalysts ahead. Bank of America reiterates Lyft as buy The bank said the ride sharing company is trading at a "significant discount." Wells Fargo reiterates Home Depot as overweight Wells says investors should buy the dip in Home Depot shares following earnings Tuesday morning.

Persons: Wells, Rollins, it's bullish, Goldman Sachs, Goldman, Bernstein, WBD, BTIG, Eli Lilly, Stifel, Lyft Organizations: Wells Fargo, Disney, UBS, JPMorgan, Netflix, Mizuho, Palo Alto, Barclays, Dell, DELL, Citi, Sales, Warner Brothers Discovery, ITeos, " Bank of America, Bank of America, Co, McCormick &, Depot, Amazon Locations: California, Turkey

☆ Fund manager — who's consistently beaten the S&P 500 — names a key stock to own if recession hits
▼ + stars: | 2024-08-12 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As fears of a recession grip stock markets and consumers get squeezed, outperforming fund manager Sean Peche is betting on an unexpected retail player: the French multinational Carrefour . Peche, a portfolio manager at Ranmore Fund Management, highlighted the company's defensive nature and ability to grow earnings amid inflation as a key attractive quality. Peche noted that Carrefour has significantly increased its revenue over the past few years while maintaining stable inventory levels. The retailer's total revenue increased from 74.2 billion euros ($80.96 billion) in 2018 to 84.9 billion euros in 2023, according to FactSet data, a rise of 14.4%. The fund manager also highlighted Carrefour's growth in own-label products, which now account for nearly 40% of revenues.

Persons: Sean Peche, Peche, You've, CNBC's, There's, Cedric Lecasble, Stifel, Lecasble, Mahamkali Organizations: Carrefour, Peche, Ranmore Fund Management, Ranmore Global Equity Fund, Tesco, FactSet, UBS Locations: French, U.S, Germany, Switzerland, Carrefour, France, Brazil, Europe

☆ US to South Korea: TikTok star undergoes 15 beauty treatments in just 3 days
▼ + stars: | 2024-08-10 | by ( Steffi Cao | ) edition.cnn.com time to read: +12 min

“Getting a plane ticket to Korea to get Botox and filler done is honestly cheaper than getting it done here.”Lee undergoes a beauty treatment in South Korea. Courtesy _Lee @taxinoodle_A screenshot from Lee's TikTok video where she explains the 15 beauty treatments she had done in Seoul. Visitors and vendors discuss beauty products at the K-Beauty Expo, the largest beauty exhibition in South Korea, on October 12, 2023 in Goyang, South Korea. Courtesy _Lee @taxinoodle_Lee receives a consultation — and the requisite "before" shots to compare with post-treatment ones — at a clinic in South Korea. Courtesy _Lee @taxinoodle_Lee always gets her hair dyed ($125) in South Korea because she prefers the pricing and service.

Persons: Yerim Lee, Lee, It’s, ”, ” Lee, “ It’s, Chris Jung, Don’t, —, “, Botox, Jennie, Kim, there’s, @taxinoodle_ Yerim Lee, @taxinoodle_ Lee, TikTok, ‘ Organizations: CNN, . Visitors, Getty Images, South Korean Ministry of Health, Welfare Locations: Seoul, South Korea, New York City, Korea, _Lee, Goyang, Seoul’s Gangnam

☆ Bank of America's stocks to help you sleep at night after wild week
▼ + stars: | 2024-08-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Bank of America is offering up a selection of stocks to help investors sleep soundly during bouts of market volatility. The picks come on the heels of a roller-coaster week for Wall Street. Here are some of the companies that made the list: Several consumer staples stocks showed up, with the S & P 500 sector up more than 11% this year. PG 1M mountain Shares over the last month Lockheed Martin was another low-beta stock that made the cut. Shares of the aerospace and defense company have rallied more than 21%, outperforming the market year to date.

Persons: Stocks, Savita Subramanian, Gamble, Lockheed Martin Organizations: of America, Wall, Bank of America, Walmart, PepsiCo, Procter, Starbucks, Elliott Management, T Bank, Home Depot, Cisco Systems, Consolidated Edison, New Locations: U.S, China, New York

☆ Stocks making the biggest moves premarket: Palantir, Caterpillar, Yum China, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines before the bell: Palantir Technologies — The data analytics company rallied 11% after raising its full-year revenue forecast. Yum China — Shares surged 8% after the Shanghai-based operator behind Pizza Hut and Taco Bell posted second-quarter earnings that beat expectations. Adjusted earnings of 55 cents per share topped the 47 cents per share anticipated by analysts surveyed by LSEG. Earnings came in at 47 cents per share, topping the 31 cents expected from analysts polled by LSEG. CSX reported earnings of 49 cents per share in the second quarter, above the 48 cents anticipated by analysts in an LSEG survey.

Persons: Taco Bell, Piper Sandler, ZoomInfo, LSEG, Lucid, — CNBC's Michelle Fox, Fred Imbert, Jesse Pound Organizations: Technologies, Taco, LSEG, Revenue, Caterpillar, Nvidia, Micro Computer, Broadcom, Intel, CSX Locations: China, Shanghai

☆ Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.

Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, —, Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai

☆ Stocks making the biggest moves premarket: Nvidia, Apple, Kellanova and more
▼ + stars: | 2024-08-05 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines before the bell: Chip stocks — Nvidia shares fell roughly 12.5% in premarket trading as the artificial intelligence trade continues to unwind, dragging down once-hot semiconductor plays. Apple — Apple shares sank more than 6% after Warren Buffett's Berkshire Hathaway revealed it sold nearly half its stake in the iPhone maker. Tech stocks — Major tech stocks were among the biggest losers of Monday's global market sell-off. Analysts polled by FactSet forecast a loss of 27 cents per share for the second quarter on $190.3 million in revenue. Crypto — Stocks tied to the price of bitcoin were among the hardest hit in premarket trading as the flagship cryptocurrency dropped below $50,000 for the first time this year.

Persons: Warren Buffett's Berkshire Hathaway, Tesla, Crypto, Stocks, Coinbase, MicroStrategy, Palantir, Macheel, Samantha Subin, Jesse Pound, Brian Evans Organizations: Nvidia, Broadcom, Computer, Arm Holdings, Apple, Tech, Facebook, Microsoft, FactSet, Reuters, Street Journal, Marathon

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