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After flatlining the week before, mortgage demand rose last week, despite mortgage rates increasing for the fourth straight week. Total application volume climbed 1.7% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home rose 2% for the week but were 1% lower than the same week one year ago. Purchase demand was driven by conventional and FHA loans, with FHA purchase applications seeing a 7% increase. Mortgage rates are about flat so far this week, according to a separate survey from Mortgage News Daily.

Persons: ”, Joel Kan, Matthew Graham Organizations: Mortgage, Mortgage News Locations: Ukraine, Russia

Comcast announced a plan Wednesday to spin off most of its cable television networks into a separate publicly traded company. The new company will include the USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and the Golf Channel. Comcast will retain key NBCUniversal assets, including the NBC broadcast network, NBC News, NBC Sports, the streaming service Peacock, and the cable channel Bravo. The move comes as the traditional cable television bundle faces stiff economic headwinds, most notably the rise of cord-cutting and the shift to streaming alternatives. Matt Strauss will become chairman of the NBCUniversal Media Group.

Persons: Mike Cavanagh, ” Cavanagh, “, Cavanagh, Mark Lazarus, Anand Kini, Dan Ives, ”, ” Rich Greenfield, ” Greenfield, Cesar Conde, Conde “, ” Donna Langley, Peacock, Matt Strauss, Mark Woodbury Organizations: Comcast, USA Network, CNBC, MSNBC, SYFY, Golf Channel, NBC, NBC News, NBC Sports, Bravo, Wall Street Journal, Wedbush Securities, LightShed Partners, Wednesday, NBCUniversal, Group, Telemundo, NBCUniversal Entertainment, Studios, NBCUniversal Media, Universal, General Electric, Netflix, Amazon Prime Locations: NBCUniversal

Target reported earnings Wednesday that came in far below Wall Street's expectations, something the big-box retailer attributed to slower-than-expected demand. The company announced profits that missed forecasts by 20%, its widest miss in two years. Broader stock trading did not immediately react, however, as Wall Street awaits earnings from chipmaker Nvidia, which has helped power the market higher throughout the year. Target's report comes a day after rival Walmart reported earnings and revenues that beat expectations. “We’re expecting this holiday period to be very consistent with that,” Walmart Chief Financial Officer John David Rainey told CNBC.

Persons: Brian Cornell, Michael Fiddelke, “ We’re, John David Rainey, “ They’re Organizations: Target, Nvidia, Walmart, CNBC

The House Ethics Committee weighs releasing their report on Matt Gaetz. And Susan Smith, who made headlines for killing her sons 30 years ago, is up for parole. The Ethics Committee has jurisdiction only over sitting members of Congress, Johnson argues. But there is precedent for the Ethics Committee to publish reports after a member of Congress has resigned. Susan Smith up for parole 30 years after killing her sonsSusan Smith leaves court after a hearing in Union, S.C., in 1995.

Persons: Matt Gaetz, Susan Smith, Donald Trump, Gaetz, Susan Wild, Joel Leppard, Mike Johnson, Trump, Johnson, Read, Mike Cavanaugh, ”, Vladimir Putin, Brooks Kraft, Smith’s, Michael, Alex, Smith, Rafael Nadal, Jay Leno, Barbara Gauntt, Chokwe Antar Lumumba, Lumumba, — Bracey Harris Organizations: Comcast, Justice Department, Republicans, Democrats, Gaetz, MSNBC, Syfy, Golf, CNBC, Oxygen, NBC News, NBC, Bravo, United, Brooks, Brooks Kraft LLC, Getty, South, Davis, Mississippi State Capitol, Clarion, Ledger, Residents Locations: Florida, USA, U.S, Kyiv, United States, Ukrainian, Russian, Ukraine, Union, South Carolina, Northern California, Pacific, California, Jackson

Comcast is expected to announce a plan Wednesday to spin off its cable networks into a separate company, two people familiar with the matter told NBC News. Comcast had announced during its quarterly earnings call in October that it was considering spinning off its cable networks. Bravo will remain part of Comcast’s NBCUniversal because its content is heavily featured on Peacock, CNBC reported. Comcast Chairman and CEO Brian Roberts will have a voting position in the new entity, but he won't be on the board of directors, CNBC reported. Executive Vice President Adam Miller will become NBCUniversal’s chief operating officer, CNBC reported.

Persons: Mike Cavanagh, Peacock, Peacock's, Mark Lazarus, Anand Kini, Brian Roberts, Donna Langley, Matt Strauss, Cesar Conde, Adam Miller Organizations: Comcast, NBC News, MSNBC, Syfy, Golf, CNBC, Oxygen, Wall Street Journal, NBC, NBCUniversal, Bravo, Paris, NBCUniversal Entertainment, Studios, NBCUniversal Media Group, Group, Telemundo Locations: USA, NBCUniversal

☆ Sherman: Comcast is the first to spin off cable networks
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSherman: Comcast is the first to spin off cable networksAlex Sherman, CNBC Media & Sports Reporter, discusses Comcast's plan to spin off its cable networks, including CNBC. He explains that this move is a test for the media industry as Comcast focuses on profitable assets like Peacock and Bravo, while the new cable company may be rolled up with other networks or sold to private equity due to the declining future of cable.

Persons: Alex Sherman, Peacock, Bravo Organizations: Sherman, Comcast, CNBC Media, Sports, CNBC

☆ Utah Jazz owner Ryan Smith on how Utah is becoming a major sports destination
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUtah Jazz owner Ryan Smith on how Utah is becoming a major sports destinationRyan Smith, owner of Utah Hockey Club and Utah Jazz, joins CNBC's 'Squawk on the Street' to discuss rising NHL team valuations, the interplay of mixed-use real estate in sports, and more.

Persons: Ryan Smith Organizations: Utah Jazz, Utah Hockey Club Locations: Utah

☆ Chart of the Day: Target
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChart of the Day: TargetTarget shares are plunging today after earnings. The company said it’s cutting their 2024 forecast. It’s our Chart of the Day. Shareholder Stephanie Link, CIO at Hightower, joins CNBC's 'Halftime Report' to discuss Target's biggest miss in two years.

Persons: Stephanie Link, Hightower

☆ The future of travel in the Middle East
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe future of travel in the Middle EastGlobal travel CEOs speak to CNBC's Emma Graham at Skift Global Forum East in Dubai about the future of travel in the Middle East.

Persons: Emma Graham Organizations: East Global, Skift Global Locations: Dubai

☆ Watch CNBC's full interview with Muddy Waters Research founder Carson Block
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Muddy Waters Research founder Carson BlockCarson Block, founder and CIO of Muddy Waters Research, joins CNBC's 'The Exchange' to discuss why his firm is shorting e.l.f. Beauty, why he believes the company may be lying about some of its data, and more.

Persons: Carson Block Carson Organizations: Muddy Waters Research

☆ NAB delays RBA rate cut expectations to May 2025, sees soft landing for the Australian economy
▼ + stars: | 2024-11-20 | 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 EmailNAB delays RBA rate cut expectations to May 2025, sees soft landing for the Australian economyNAB's CFO Nathan Goonan expects only a marginal slowdown in business credit growth, telling CNBC that Australia is still on track to see solid growth in 2025.

Persons: Nathan Goonan Organizations: NAB, CNBC Locations: Australia

☆ Burberry shares are down 40%. One hedge fund manager says the stock offers 'good value' right now
▼ + stars: | 2024-11-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Luxury retailer Burberry 's shares present an attractive investment opportunity after the company revealed a new turnaround strategy, according to hedge fund manager David Neuhauser. The stock, which is also traded in the U.S. and Germany, remains down around 40% year-to-date, however. UBS said Burberry was the only luxury retailer not to report "weak organic sales growth" in the latest quarter. "I think Burberry has a good turnaround in place with a new CEO," Neuhauser added, while cautioning that the recovery might take longer than expected. "I think over some time, a good turnaround by Burberry, with strong leadership, could really see the stock price increase.

Persons: David Neuhauser, Neuhauser, CNBC's, Livermore, they're, Zuzanna Pusz, Burberry, –, Joshua Schulman, Rogerio Fujimori, Adam Cochrane, FactSet, — CNBC's Karen Gilchrist Organizations: Burberry, Livermore Partners, UBS, Deutsche Bank, Stifel Locations: London, U.S, Germany, Asia, Swiss

☆ Watch CNBC's full interview with former NBC Cable president Tom Rogers
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with former NBC Cable president Tom RogersTom Rogers, Oorbit Gaming executive chairman and former NBC Cable president, joins 'Squawk Box' to discuss Rogers' thoughts on Comcast's decision to spinoff cable channels, how Comcast was able to pull this off first, and much more.

Persons: Tom Rogers Tom Rogers, Rogers Organizations: NBC Cable, Oorbit Gaming, Comcast

☆ Indian billionaire Gautam Adani and others indicted in U.S. over alleged bribery scheme
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndian billionaire Gautam Adani and others indicted in U.S. over alleged bribery schemeCNBC's Seema Mody joins 'Closing Bell Overtime' with breaking news on the indictment of Indian billionaire Gautam Adani.

Persons: Gautam Adani, Seema Mody Locations: U.S

☆ Plural co-founder on whether Nvidia's dominance can be shaken
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPlural co-founder on whether Nvidia's dominance can be shakenIan Hogarth, co-founder of Plural Platform, speaks with CNBC's Arjun Kharpal at the Slush technology event in Helsinki, Finland, about the artificial intelligence chip landscape and whether Nvidia's dominant market position can be challenged.

Persons: Ian Hogarth, CNBC's Arjun Kharpal Locations: Helsinki, Finland

☆ Here are Trump's latest administration picks
▼ + stars: | 2024-11-20 | by ( Megan Cassella | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere are Trump's latest administration picksCNBC's Megan Cassella reports on the latest news regarding the Trump transition.

Persons: Megan Cassella, Trump

☆ Investment Committee Moves: EPAM, Paycom, Blackstone, Healthequity, Booz Allen, Leidos, and Vertiv
▼ + stars: | 2024-11-20 | 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 EmailInvestment Committee Moves: EPAM, Paycom, Blackstone, Healthequity, Booz Allen, Leidos, and VertivKaren Firestone and Steve Weiss join CNBC's 'Halftime Report' to detail their latest portfolio moves.

Persons: Booz Allen, Leidos, Vertiv Karen Firestone, Steve Weiss, CNBC's Organizations: Email Investment, Blackstone, Healthequity Locations: Paycom

☆ This lithium stock is an under-the-radar turnaround story, according to the charts
▼ + stars: | 2024-11-20 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +4 min

On the day that Nvidia is reporting earnings post-close, there isn't much attention on anything else, especially not chemical companies. There's no use in trying to bottom fish a stock that continues to make new lows… until it actually shows a marked change of character. If the stock can, in fact, see an upside follow through soon, then the measured move target would be up at $138. Past performance is no guarantee of future results, but patterns have the tendency to repeat – both over the short-term and long-term. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: it's, ALB Organizations: Nvidia, CNBC, NBC UNIVERSAL Locations: Albemarle, ALB

☆ A bearish options trade on Apple as stock struggles to keep up with broader market
▼ + stars: | 2024-11-20 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

Back in late September, I laid out a bearish thesis on Apple and the trade expired last Friday and resulted in a 100% gain. Apple (AAPL) continues to face significant headwinds, with disappointing iPhone 16 sales, growing competition in augmented reality, and underwhelming progress in artificial intelligence (AI). China's slowing economy has weighed heavily on Apple, exacerbating challenges in one of its largest markets. While Apple boasts industry-leading net margins of 24%, its expected EPS growth of 11.6% and revenue growth of 6.9% provide limited justification for this valuation premium. With iPhone sales growth faltering and the lack of a clear catalyst from AI or AR/VR initiatives, AAPL's premium valuation remains increasingly difficult to sustain.

Persons: AAPL Organizations: Apple, Apple Intelligence, Meta, Microsoft, CNBC, NBC UNIVERSAL Locations: OptionsPlay

☆ Watch Wednesday's full episode of the Halftime Report — November 20, 2024
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Wednesday's full episode of the Halftime Report — November 20, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.

Persons: CNBC's Scott Wapner Organizations: CNBC PRO

☆ Nvidia's quarterly report will be 'drop the mic' moment, says Wedbush's Dan Ives
▼ + stars: | 2024-11-20 | 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 EmailNvidia's quarterly report will be 'drop the mic' moment, says Wedbush's Dan IvesDan Ives, Wedbush Securities global head of technology research, joins CNBC's 'Squawk on the Street' to discuss expectations for Nvidia's earnings, how competitors stand, and more.

Persons: Wedbush's Dan Ives Dan Ives Organizations: Wedbush Securities

☆ Watch CNBC's full interview with Goldman Sachs chairman & CEO David Solomon
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Goldman Sachs chairman & CEO David SolomonDavid Solomon, Goldman Sachs chairman and CEO, sits down with CNBC's Leslie Picker to discuss whether deregulation promises made by president Donald Trump will come to fruition, expectations for markets in the new administration, and more.

Persons: Goldman Sachs, David Solomon David Solomon, CNBC's Leslie Picker, Donald Trump

☆ CNBC Daily Open: Investors prioritize Nvidia’s earnings over geopolitical risks
▼ + stars: | 2024-11-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

In this article BRBY-GB.N225SMCI.SPXNVDA.IXIC.DJI Follow your favorite stocks CREATE FREE ACCOUNTChip company Nvidia's headquarters in Silicon Valley in February 2024. Andrej Sokolow | Picture Alliance | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. I clearly expect to see some kind of immediate reaction, knee-jerk reaction," Tiffany McGhee, CEO and CIO of Pivotal Advisors, told CNBC. Considering Nvidia's performance over the past two years, however, it's hard to think of any other asset that will give investors the same sense of safety.

Persons: SPX, Andrej Sokolow, Tiffany McGhee, Stocks, McGhee, Gonzalo Asis, Blackwell, Jensen Huang, bubbled, Iordache, Katrina Bishop, Brian Evans, Samantha Subin, Pia Singh Organizations: Getty, CNBC, Nasdaq, Dow Jones, Reserve, Bank of America Securities Locations: Silicon Valley, Russia, Ukraine

☆ CNBC's Official NHL Team Valuations 2024: Here's how the 32 franchises stack up
▼ + stars: | 2024-11-20 | by ( Michael Ozanian | ) www.cnbc.com time to read: +1 min

The National Hockey League is commanding more respect when it comes to team values. The average NHL team is worth $1.92 billion, according to CNBC's Official 2024 NHL Valuations, and recent transactions come at revenue multiples that rival deals done in Major League Baseball. For the 2023-24 season, the NHL's hockey-related revenue was $6.3 billion, 8.6% higher than the previous season, according to the league. The NHL also hit record national sponsorship revenue last season, bringing in $250 million, as well as record regular-season gate receipt revenue of $2.4 billion, the NHL said. The average NHL team posted EBITDA of $45 million on revenue of $223 million for the 2023-24 season, according to CNBC calculations.

Organizations: National Hockey League, NHL, Major League Baseball, CNBC

☆ Elon Musk's government influence raises conflict of interest questions
▼ + stars: | 2024-11-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's government influence raises conflict of interest questionsCNBC's Deidre Bosa joins 'Money Movers' to discuss what a Trump administration means for Elon Musk's business empire.

Persons: CNBC's Deidre Bosa, Trump Organizations: Elon

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