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Starbucks , Chipotle Mexican Grill — Starbucks stock shot up 21% after the coffee chain ousted CEO Laxman Narasimhan effective immediately and replaced him with Chipotle CEO Brian Niccol, who will step in Sept 9. Three Wall Street firms already upgraded Starbucks stock after the news. Revenue of 567.7 million Swiss francs topped the 562.1 million expected by analysts polled by StreetAccount. The filings showed that the shareholders, including the Ontario Teachers' Pension Plan Board, were working with Morgan Stanley to sell a total of about 11 million shares of ViaSat. Rumble — Shares advanced more than 5% after the video sharing company's second-quarter results beat expectations on the top and bottom lines.
Persons: Laxman Narasimhan, Brian Niccol, Morgan Stanley, Carlyle, Riley, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Jesse Pound Organizations: Starbucks, Home Depot, Depot, Dell Technologies, Barclays, Entertainment, Mobile, Citigroup, StreetAccount, ViaSat, Ontario, Board, Garden, Madison, Garden Sports, Baxter, Baxter International, Riley, SEC Locations: China, FactSet, Madison
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTuesday's rapid fire: Home Depot, On Holding, Baxter, Hormel Foods and MicronCNBC's Jim Cramer on Tuesday offered his thinking on five stocks outside the Investing Club portfolio.
Persons: Baxter, Jim Cramer Organizations: Hormel Foods, Micron
The home improvement retailer said it now expects full-year comparable sales to decline by 3% to 4% compared to the prior fiscal year. It had previously expected comparable sales, a metric that takes out the impact of store openings and closures and other one-time factors, to decline about 1%. Total sales are expected to increase between 2.5% and 3.5% including a 53rd week in the fiscal year and approximately $6.4 billion in sales from SRS. In an interview with CNBC, Chief Financial Officer Richard McPhail said Home Depot has contended with consumers who have a "deferral mindset" since the middle of 2023. It marked the seventh consecutive quarter of negative comparable sales at Home Depot.
Persons: Richard McPhail, They've, McPhail, Jerome Powell, , Robert Hum Organizations: CNBC, LSEG, Depot, Target, Home Depot, Consumers, Federal Reserve Locations: Florida Keys, United States, U.S
CNN —Despite sweltering August temperatures, more stores are rolling out products in what was once the quintessential fall flavor: pumpkin spice. IHOP will launch its fall-themed lineup on September 1, including pumpkin spice pancakes, pumpkin spice cold foam cold brew and maple pumpkin cheesecake-flavored pancakes. And Krispy Kreme unveiled its fall menu even earlier, announcing the return of the pumpkin spice cake doughnut and pumpkin spice latte beginning August 12. Pumpkin spice has cemented itself as a fall staple, with Americans spending more than $500 million on pumpkin spice products each year, according to data from Nielsen. And with companies from Starbucks to Bath & Body Works consistently rolling out their own line of pumpkin spice products as the days grow shorter, the flavor has become a well-established part of the consumption calendar.
Persons: Krispy Kreme, , Neil Saunders, Saunders Organizations: CNN, Nielsen, Body, Home, Locations: Bath
Management blamed "higher interest rates and greater macroeconomic uncertainty" for pressuring consumer spending on home improvement projects. The recent data certainly supports the idea of a rate cut at the Fed's mid-September meeting. However, that's weeks away, we know things can turn on a dime in the data and the stock market. Lower rates can certainly impact the stock market — but when it comes to picking individual stocks, we remain focused on earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Thursday's, Stanley Black, Decker, Stifel, bode, Russell, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, PPI, Management, Dow, Home Depot, Trade, Costco, Depot, CNBC, New York Stock Exchange, Getty Locations: U.S, New York City
Three-Stock Lunch: Home Depot, Starbucks and Chipotle
  + stars: | 2024-08-13 | 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 EmailThree-Stock Lunch: Home Depot, Starbucks and ChipotleWill McGough, Prime Capital Investment Advisors director of investments, joins 'Power Lunch' to discuss stock plays for three stocks: Home Depot, Starbucks and Chipotle.
Persons: Will McGough Organizations: Starbucks, Prime Capital Investment
Kilburg: Worst is priced into Home Depot heading into earnings
  + stars: | 2024-08-13 | 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 EmailKilburg: Worst is priced into Home Depot heading into earningsJeff Kilburg, Founder and CEO of KKM Financial, discusses earnings from Home Depot.
Persons: Jeff Kilburg Organizations: KKM, Home Depot
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.
Persons: Jim Cramer, It's, Blackwell, Nvidia's, Eaton, Paulo Ruiz, Ruiz, Craig Arnold, Arnold, We're, Stanley Black, Decker, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, UBS, Club, Fed, PPI, Jim Cramer's Charitable Locations: York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are in a consumer discretionary recession, says TD Cowen's Oliver ChenOliver Chen, TD Cowen senior retail analyst, joins 'Squawk Box' to discuss key retail earnings from Walmart and Home Depot this week, what to expect from the retail giants, state of the consumer, and more.
Persons: Cowen's Oliver Chen Oliver Chen, TD Cowen Organizations: Walmart
Home Depot earnings on deck: Here's what to expect
  + stars: | 2024-08-12 | 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 EmailHome Depot earnings on deck: Here's what to expectLaura Champine, Loop Capital Markets director of research, joins 'The Exchange' to discuss Home Depot as the home improvement company is set to report its earnings.
Persons: Laura Champine Organizations: Capital
U.S. equity futures fell on Sunday evening as investors braced for key inflation data, after almost completely reversing its violent market rout last week. S&P 500 futures dipped 0.08% and Nasdaq 100 futures inched lower by 0.05%. Fear often works in our favor as stock market investors. "Another round of good [inflation] data could help calm fears that the Fed is potentially losing the plot," Cox said. "Retail sales and retailer earnings may show that fears of a job market slowdown are overblown," she added.
Persons: Callie Cox, they'll, Cox Organizations: Dow Jones, Nasdaq, Dow, Ritholtz Wealth Management, CNBC, Walmart
For example, this season started with the banks roaring higher on great numbers, legitimately great numbers led by a phenomenal Bank of America quarter. The later just made no sense because it is pulling away from Intel on the low end and if Nvidia really does have production problems then AMD is the de facto winner. In fact, the only stock that didn't suffer from an Nvidia relation, Apple, got through earnings without too much trouble. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: , techs, We've, Warren Buffett, Buffett, industrials Eaton, Donald Trump, we've, execs, I've, Kamala Harris, Trump, Jim Cramer's, Jim Cramer, Jim, Rob Kim Organizations: Federal Reserve, of America, Bank of America, Club, Apple, Fed, SL Green, Boston Properties, Nvidia, Arista Networks, Micron, Dell, Hewlett Packard Enterprise, Devices, Intel, AMD, Accenture, Deloitte, McKinsey, White, Jim Cramer's Charitable, CNBC Locations: Lowe's
Looking back, quarterly earnings also played a key role in big stock moves for the portfolio. Looking ahead, we'll see an update on some key inflation data, plus a closer look at the state of the housing and retail sectors. ET: Producer Price Index Earnings: Home Depot (HD), Pandora (PANDY), Nu Holdings (NU), Sea Limited (SE) Wednesday, August 14 8:30 a.m. ET: Consumer Price Index Earnings: Tencent Holdings (TCEHY), Cisco (CSCO), UBS (UBS), JD.com (JD) Thursday, August 15 8:30 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Eli Lilly, Walt, Jim Cramer, we've, JD.com, Jim Cramer's, Jim, Spencer Platt Organizations: Dow Jones, Dow, Nasdaq, Walt Disney, Microsoft, Ford Motor, Wynn Resorts, DuPont, Devices, Procter, Gamble, Club, Abbott Laboratories, Federal, Traders, Sun Life, Nu Holdings, Sea, Tencent Holdings, Cisco, UBS, Philadelphia Fed, Walmart, Materials, Deere & Co, Ross Stores, Lenovo, Housing, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: U.S, Dover, Wells Fargo, Nextracker, Eaton
Insider Today: A shot to reverse aging
  + stars: | 2024-08-10 | by ( Joi-Marie Mckenzie | ) www.businessinsider.com   time to read: +7 min
On the agenda:This story is available exclusively to Business Insider subscribers. AdvertisementVeronica Thatcher, who's worked at Costco for 18 years, told Business Insider she also spotted "Halloween- and harvest-themed decorative pillows" in the big-box store this month. According to eMarketer, Lowe's made Halloween merch available online on June 1 and it'll be available IRL on August 23. iStock; Rebecca Zisser/BIWealthy patient, healthy jointsIt's hard to slow down aging, but the wealthy are giving it their best shot, literally. More of this week's top reads:The Insider Today team: Jordan Parker Erb, editor, in New York.
Persons: , I'm, Chelsea Jia Feng, you've, Veronica Thatcher, who's, Mike Booth, prepping, eMarketer, Lowe's, Taylor Rains, Insider's Taylor Rains, Beond, Rebecca Zisser, Bryan Johnson, — Johnson, Edward Berthelot, Burberry, Natalie Ammari, they've, Kit Harington, Oscar, Anthony Hopkins, Jordan Parker Erb, Dan DeFrancesco, Lisa Ryan, Amanda Yen Organizations: Service, Business, Retailers, Costco, CFVR, Home Depot, Burberry, US, HBO, Paramount, Showtime Locations: Alberta, Canada, Michaels, Italy, Maldives, Dubai, Bahamas, British, London, Nazi, New York, New York City
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. It's a big one for retail with earnings from Home Depot and Walmart and, more broadly, the Commerce Department's July retail sales report. 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.
Persons: Jim Cramer, Eli Lilly, Cowen, TJ Maxx, we'll, Jim Cramer's, Jim Organizations: CNBC, Taiwan Semiconductor Manufacturing Company, Apple, Nvidia, Management, Home Depot, Walmart, Commerce, TJX, Reserve, Jim Cramer's Charitable Locations: Marshall's
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
The wildest week of 2024 has investors bracing for more volatility in the week ahead, with key insight on the consumer and inflation coming at a time when recession fears are top of mind. Inflation, labor data Next week's inflation data could get less attention than it has over the past year when the Fed's fight against pricing pressures put inflation reports on center stage. Recently, it's been the labor market getting the most attention. "The market's caring much more about about labor markets and growth, than they do inflation right now," Ladner said. Week ahead calendar All times ET Monday, Aug. 12 2 p.m. Treasury Budget (July) Tuesday, Aug. 13 8:30 a.m. Producer Price Index (July) Earnings: Home Depot Wednesday, Aug. 14 8:30 a.m. Consumer Price Index (July) 8:30 a.m.
Persons: Scott Ladner, it's, Ladner, , Strategas, Ryan Grabinski, RJ Assaly, Jeremy Siegel, Chen Zhao, Zhao, Price Organizations: Federal, Walmart, Home, Horizon Investments, Bank of Japan, Wharton, Fed, UBS, Investments, Treasury Budget, Price, Philadelphia Fed, Retail, Manufacturing, Materials, Tapestry, Deere, Co, Housing Locations: U.S, NAHB, Michigan
But all the excitement to get a jump start on Halloween comes as consumers are showing more signs of financial stress. Tricking consumers into treating themselves more“It’s clear that consumers have been interested in buying Halloween products earlier and earlier,” said Champine. Michaels said it started selling Halloween goods in June, the earliest the retailer has ever done so. The initial launch of Halloween goods at Michaels “has been consistently beating our internal expectations,” he added. By selling Halloween goods earlier, they’re likely hoping it’ll decrease the likelihood of having to discount, she added.
Persons: can’t, , Laura Champine, they’re, Joe Feldman, Michaels, ” John Gehre, Michaels “, ” Kelsey Robinson, Lance Allen, , ” Allen, David Zalubowski, they’ve, they’ll, Champine, ” Lowe’s, Feldman Organizations: New, New York CNN, Disney, Walt Disney, Loop, Telsey Advisory, CNN, Costco, Consumer, McKinsey, Labor, Depot Locations: New York, Los Angeles, Sheridan , Colorado, Lowe’s
New York CNN —After a prolonged period of calm, financial markets went into a tailspin this week. One trigger for the selloff was the unraveling of the Japanese yen carry trade. Some investors say there could be more volatility to come, particularly since it’s unclear how much more the yen carry trade could unwind. The carry trade is “enormous. The unwinding of the carry trade and weak labor data came at a delicate time rife with uncertainty for Wall Street.
Persons: Wharton, Jeremy Siegel, Siegel, , Steve Sosnick, Joe Biden, Donald Trump, Dow, Liz Young Thomas Organizations: New, New York CNN, Nikkei, Dow, Nasdaq, Bank of Japan, Companies, Federal Reserve, Investors, CNBC, Interactive Brokers, Markets, Republican, Home Depot, Walmart Locations: New York, Israel, Ukraine, Russia
These freebies are in addition to the Philippine House of Representatives' cash incentive of 3 million Philippine pesos granted to all gold medalists. In the US, gold medalists take home $37,500. Hong Kong — which offers the highest bonus — awards 6 million Hong Kong dollars, or about $768,000, to its gold medalists, per CNBC. AdvertisementCorrection: August 7, 2024 — An earlier version of this story misdescribed Hong Kong. It's 6 million Hong Kong dollars, not 600,000 Hong Kong dollars.
Persons: , Carlos Yulo, freebies, Yulo, Megaworld, Virgil Lo, Bucket, Marcus Luer, Luer, James Crane, Buchwald, Joseph Schooling, Nestlé's Milo, Yakult, Hugo Boss, it's Organizations: Service, Olympics, Paris, McKinley, Business, Apollo Home Depot, Philippine, Hong, CNBC, Total Sports Asia, Olympic Games Locations: Megaworld, Taguig, Manila, Hong Kong, Singapore, Philippines, China
Buying a car, notching his first five-figure month, and partnering with a friend to bring the business onlineAfter a year of school, Shaidle restarted his cleaning business in June 2022. AdvertisementAran Giffen joined the Shaidle Cleaning team in 2023. He and Giffen spent their second year at university planning for what they expected to be a busy 2024 season for Shaidle Cleaning. Shaidle Cleaning is completely student-operated. Giffen, who's on a full university scholarship for accounting, isn't technically under contract as a Shaidle Cleaning employee.
Persons: Jacob Shaidle, Shaidle, , that's, Aran Giffen, He'd, didn't, Jake, Giffen, they've, you've, who's, I'd Organizations: Service, Business, Home, University of British, UBC, Hamilton Spectator, Shaidle Locations: Hamilton, Canadian, Ontario, University of British Columbia, Canada
Read previewThis as-told-to essay is based on a transcribed conversation with Rachel Hoobing, a 50-year-old electrician in San Francisco. I found it very stressful and decided to leave in May 2012 and apply for an electrician apprenticeship. In 2015, I got my electrical trainee card, which meant I could do some non-union work as an electrician. I applied for an electrical apprenticeship with a union in 2016, when I was 43, and started the following year. AdvertisementI work for a union as an electricianI became a union electrician at the end of my five-year apprenticeship in 2021.
Persons: , Rachel Hoobing, I'd, wasn't Organizations: Service, Business, Jobs Corps, Department of Labor, Job Corps, Home Depot Locations: San Francisco, arborists
Certain stocks should be winners as the Federal Reserve seeks to lower short-term rates, if history is any guide. Short-term yields have been falling this week in anticipation of a Fed action. CNBC Pro screened for the stocks in the S & P 500 that tend to rise the most when short-term rates decline. The majority of stocks are in businesses that would benefit from lower rates. There are also often volatile stocks that would benefit from lower rates increasing risk-taking by investors.
Organizations: Federal, Federal Reserve, Traders, CNBC Pro, Treasury, Camden Property Trust, Alto Networks, Power Systems, Qualcomm Locations: PutleGroup
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Persons: cardholders, you'll, you’ve, takeout, Williams, Cardholders, Uber, You'll Organizations: Business Insider, U.S . Bank, Bank, . Bank, Walmart, Target, Business, EV, Amazon, Cash, U.S, Bank Rewards, Visa, Service, American Express, ® Wells, Chase Travel, Home, Ikea, Sonoma, Emergency, Capital, Disney Locations: U.S, Chevron
Bank of America® Customized Cash Rewards Credit Card ReviewThe Bank of America® Customized Cash Rewards Credit Card is a decent option for folks who want more control over how they earn rewards. Bank of America Customized Cash Rewards bonusNew Bank of America® Customized Cash Rewards Credit Card cardholders can earn $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days of account opening. How to earn cash back with the Bank of America Customized Cash Rewards credit cardThe Bank of America® Customized Cash Rewards Credit Card has major appeal for folks looking to earn cash back on multiple spending categories. Bank of America Customized Cash Rewards Benefits and FeaturesThe Bank of America® Customized Cash Rewards Credit Card doesn't have many other benefits, but this is common with no-annual-fee credit cards. Bank of America Customized Cash Rewards FeesThe Bank of America® Customized Cash Rewards Credit Card has a $0 annual fee.
Persons: Cardholders, There's, That's, Sherwin, Williams, You'll Organizations: Business Insider, U.S . Bank, Citi, Bank of America, EV, of America, U.S . Bank Cash, Wells, Bank, American Express, CVS, Walgreens, IKEA, Lowe's, Bank of America Online Banking, Merill, Merrill, Card U.S, Citi Entertainment, Cash, Rewards Locations: Bath, Williams, Sonoma
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