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☆ Tesla’s Profit Fell 45% in the Second Quarter on Weak E.V. Sales
▼ + stars: | 2024-07-23 | by ( Neal E. Boudette | ) www.nytimes.com time to read: 1 min

Tesla on Tuesday reported a significant drop in profit in the three-month period between April and June, a result of the electric car company’s sluggish sales. The automaker said it earned $1.5 billion in the second quarter of the year on revenue of $25.5 billion. In the second quarter of 2023, Tesla made $2.7 billion and had revenue of $24.9 billion. The company’s current operating profit margin, a measure of how much money it makes on every dollar of revenue, was 6.3 percent, compared with 9.6 percent in the same period a year ago. The results will most likely heighten pressure on Tesla and its chief executive, Elon Musk, to show that the company can find new ways to grow and make money.

Persons: Tesla, Elon Musk

☆ Stocks making the biggest moves premarket: Spotify, General Motors, Coca-Cola and more
▼ + stars: | 2024-07-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

General Motors — The auto stock jumped 4.6% after General Motors easily topped second-quarter estimates. The aerospace company posted second-quarter earnings of $6.85 per share on revenues of $18.12 billion. NXP Semiconductors — Shares dropped 7% after NXP Semiconductors reported second-quarter earnings that missed estimates. Danaher — The life sciences stock jumped 6% after Danaher posted second-quarter earnings and revenue that exceeded expectations. Zions Bancorporation — Shares gained 3% after Zions Bancorp posted second-quarter earnings that exceeded expectations.

Persons: General Motors, Lockheed Martin, LSEG, Danaher, Rainer Blair, Zions, CNBC's Hakyung Kim, Jesse Pound Organizations: Technology, Spotify Technology, General, General Motors, GM, Lockheed, Cola, NXP Semiconductors, United Parcel Service, UPS, Holdings, Crown Holdings, Zions Bancorp, LSEG, GE Aerospace, Comcast —, Comcast Locations: China

How to request an overdraft refundAs soon as you see an overdraft fee on your account, check your bank's website for instructions on requesting an overdraft fee waiver or refund. With U.S. Bank's Overdraft Fee Forgiven program, you can waive overdraft fees for balances overdrawn more than $50 if you make a qualifying deposit before 11 p.m. What to do if you can't get your overdraft fees coveredUnfortunately, you might not always be able to avoid an overdraft fee. Enrolling in overdraft protection services can help you avoid overdraft fees in the future. Review your bank's overdraft protection options and choose the one that's best suited to your spending habits.

Persons: Banks, Overdraft, Chase, you've Organizations: Chase, Bank of America, Bank of America : Bank of America, Chase Bank, Wells, Wells Fargo Bank, Citibank, Citibank doesn't, . Bank, U.S, Truist, Truist Bank, PNC Bank, PNC, TD Bank, Fifth Third Bank, Fifth, Citizens Bank, Regions Bank, Consumer Financial Protection Bureau Locations: Wells Fargo, Wells, Chevron

☆ Goldman says buy this little-known digital entertainment stock primed to surge more than 200%
▼ + stars: | 2024-07-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Webtoon Entertainment could be a good add for investors looking for exposure to the creator economy, according to Goldman Sachs. The bank initiated the stock with a buy rating and a 12-month price target of $62. Webtoon Entertainment went public last month and priced at $21 per share. First, he thinks Webtoon has exposure to several markets, including a $130 billion paid content market opportunity, the $477 billion advertising space and a $900 billion global entertainment industry. Sheridan also believes that Webtoon could grow revenue at a compound annual rate of 19% through 2029 to roughly $3.5 billion.

Persons: Goldman Sachs, Goldman, Eric Sheridan, Sheridan, Webtoon Organizations: Webtoon, Webtoon Entertainment Locations: North America

☆ Investors are about to find out if the mega-cap tech rally is over
▼ + stars: | 2024-07-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Mega-cap tech stocks have a lot to prove with upcoming second-quarter earnings results. The long-term outperformance of mega-cap tech relative to small-cap stocks is being tested by slowing revenue growth. AdvertisementThe mega-cap tech rally hit a wall in recent weeks as investors turned their attention to small-cap stocks in a historic way. That's in stark contrast to the dominance of mega-cap tech stocks relative to small-cap stocks over the past one-, three-, five-, and ten-years. Investors will get their first taste of mega-cap tech earnings on Tuesday, with Tesla and Alphabet set to release their second-quarter results after the market close.

Persons: Goldman Sachs, —, Russell, David Kostin, Kostin, That's Organizations: Service, Vanguard, Growth, Tech, Investors, Microsoft, Apple, Amazon, Nvidia, Big Tech, Trump

☆ From Zyn to vapes: Big Tobacco pushes further toward cigarette alternatives. Here’s who could come out on top
▼ + stars: | 2024-07-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +12 min

If you haven't been paying attention to tobacco companies, you might not recognize the new landscape. The alternatives also include heated tobacco and nicotine vapor products, although with the latter, tobacco companies face big competition from vaping companies and the proliferation of illicit vapes. PM 1Y mountain Philip Morris' one-year performance Countries around the globe have been working for years to reduce tobacco use. There is no way back," Philip Morris Chief Financial Officer Emmanuel Babeau said at a Deutsche Bank conference in June. Most of that came from companies in China, with tobacco companies only taking about 15% share, the bank said.

Persons: Philip Morris, —, Brett Cooper, I'm, Philip, Emmanuel Babeau, Owen Bennett, Cooper, Altria, vapes —, Faham Baig, Dan Ahrens, Ahrens, Edge's Cooper, Jefferies, Bennett, Murray Garnick Organizations: Philip Morris International, Reynolds American, British, Tobacco, Big Tobacco, World Health, Philip Morris, Deutsche Bank, Jefferies, Philip Morris USA, Centers for Disease Control, Drug Administration, U.S, Supreme, FDA, UBS, WHO, Brands, BAT Locations: Colorado, China, rey, Japan, Iquos, U.S, Kentucky, Marlboro, U.S ., London, RRPs

☆ Activist Starboard took a stake in Match. Here are steps the investor may take to help lift shares
▼ + stars: | 2024-07-20 | by ( Kenneth Squire | ) www.cnbc.com time to read: +8 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. On July 15, Starboard sent a letter to Match highlighting various opportunities to improve operations, financial results and capital allocation. Match's EBITDA margin of 36% may be high for an average company, but it's low for a company like Match. Starboard thinks that this is a highly valuable asset that may be well-suited to operate as a private company. Starboard is not the first activist to launch a public campaign at Match.

Persons: Russell, Bernard Kim's, Jeff Smith, Thomas McInerney, Smith, Elliott, Ken Squire Organizations: IAC, Altaba, Yahoo, Elliott Management, Anson, 13D

☆ Here are Friday's biggest analyst calls: Netflix, Nvidia, Apple, Arm, Meta, Amazon, Hasbro, Coinbase, Broadcom & more
▼ + stars: | 2024-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: UBS upgrades Accenture to buy from neutral UBS said the IT services company has AI optionality. UBS upgrades Wolverine World Wide to buy from neutral UBS said it sees sales growth and margin upside for the footwear manufacturer. JPMorgan reiterates Netflix as overweight JPMorgan said it's sticking with its overweight on Netflix following Thursday's earnings report. Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating following Amazon's Prime Day. UBS upgrades Ameren to buy from neutral UBS upgraded the electric services company and said regulatory risks are "overly discounted."

Persons: Morgan Stanley, Oppenheimer, William Blair, it's, Needham, Coinbase, Wedbush, it's bullish, Barclays downgrades Molson Coors, Cantor Fitzgerald, Cantor, Evercore, JPMorgan, Buck, Melius Organizations: UBS, Accenture, JPMorgan, Netflix, Revenue, Bank of America, 3Q, Nvidia, Meta, NASDAQ, Trump, Vance, Big Tech, Choice, Barclays downgrades, Barclays, TAP, Apple, Services, Broadcom, Broadcom's, Consumer, Hasbro Locations: China, Coinbase

☆ Stocks making the biggest premarket moves: CrowdStrike, American Express, SLB, Travelers and more
▼ + stars: | 2024-07-19 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

American Express — Shares fell nearly 2% after the financial company reported second-quarter revenue of $16.33 billion, below the $16.59 billion expected from analysts polled by LSEG. However, American Express' adjusted earnings per share were $3.49, above the $3.25 consensus estimate. Comerica's net interest income came in at $533 million, above the $530.5 million expected from analysts polled by FactSet. Analysts surveyed by LSEG were expecting $1.54 in earnings per share on $1.97 billion of revenue. Earnings per share came in at $2.51 per share, excluding items, topping the $1.98 LSEG consensus estimate.

Persons: Curtis Farmer, Morgan Stanley, LSEG Organizations: Microsoft, LSEG, American Express, Comerica, FactSet, Revenue, Arm Holdings

☆ Stocks making the biggest moves after hours: Intuitive Surgical, Netflix and more
▼ + stars: | 2024-07-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

These are the stocks making notable moves after the market close on July 18. Netflix reported earnings of $4.88 per share on $9.56 billion of revenue. Intuitive Surgical — The biotech stock jumped more than 6% after a stronger-than-expected report for the second quarter. Intuitive Surgical reported adjusted earnings of $1.78 per share on $2.01 billion of revenue. The company reported $2.50 in adjusted earnings per share for the second quarter, which was 2 cents ahead of estimates.

Persons: LSEG Organizations: Netflix, PPG, Western Alliance

☆ Trump's New Jersey liquor-license hearing is delayed in latest ripple-effect benefit from SCOTUS immunity opinion
▼ + stars: | 2024-07-18 | by ( Laura Italiano | ) www.businessinsider.com time to read: +4 min

Read previewThe drinks will keep flowing at Donald Trump's New Jersey golf courses, at least for now, in the latest ripple-effect benefit from this month's Supreme Court presidential-immunity opinion. The hearing is being pushed back due to the delay in Trump's sentencing in his hush money case, officials explained. AdvertisementNothing else about "ABC's process" has changed, the spokesperson said, signaling that their efforts to challenge Trump's licenses have not ended. AdvertisementAs Business Insider revealed last month, Trump's three Jersey liquor licenses are in his eldest son's name. Trump has said in a press statement that none of the liquor licenses at his properties are in his own name.

Persons: —, Donald Trump's, it's, Friday's, Pine Hill —, Trump, Matthew J, Platkin, Donald J, SCOTUS Organizations: Service, Trump National Bedminster, Trump National Golf Club, New, New Jersey Office, Business, Alcoholic Beverage Control, ABC, Bedminster, Colts, Trump National Philadelphia —, Trump Revocable Trust, Trump, Manhattan Locations: Donald Trump's New Jersey, Colts, New Jersey, Manhattan, Pine Hill, Jersey, Florida

Our comprehensive guide explores the best ways to redeem credit card points without traveling. This guide will help you understand why and when to consider doing so, and the most innovative uses for credit card rewards beyond flights and hotels. Our guide to the most popular travel rewards credit cards can help you make sense of each loyalty program and its reward "currency", while our guide to the best credit card rewards apps help you track how many points you have, and when they will expire. Credit card rewards can have somewhat complicated tax implications, especially if you choose cash-back rewards instead of for products, services, or experiences. Use credit card rewards for Amazon purchasesMany major credit card issuers including American Express, Capital One, and Chase let you use your rewards to pay for purchases on Amazon.

Persons: you've, Chase, cardholders, Mags, Miles, Taylor, Swifties, Miles4Migrants, Miles Citi Organizations: Business, Amazon Visa, Schwab, American Express, IRS, Visa, Mastercard, Amazon, American, Capital One Entertainment, Foundation, United, JetBlue, United Airlines MileagePlus Air, Alaska Airlines, Air France – KLM, Blue, Delta, Lufthansa Miles Locations: Olive, Alaska, Delta, United Airlines MileagePlus Air Canada, Chevron

☆ Goldman's top stock strategist explains why small caps are rallying so much
▼ + stars: | 2024-07-16 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

The small-cap benchmark Russell 2000 jumped 2% on Tuesday, heading for its fifth straight winning day. Small-cap companies are especially sensitive to rate policy, as their financing costs rise when interest rates are high. Falling rates could be a boon for these names, said Kostin, Goldman's chief equity strategist, on CNBC's " Squawk on the Street ." In that period, the Russell 2000 Index has added more than 11%, compared with the S & P 500 's 4% advance. In 2024, the S & P 500 has surged more than 18%, while the Russell 2000 has added 10%.

Persons: Goldman Sachs, David Kostin, Jerome Powell, Russell Organizations: Russell, Federal

Wolfe Research initiated coverage of Amazon with an outperform rating, calling for nearly 30% upside. 7:03 a.m.: Goldman Sachs increases Spotify price target Goldman Sachs thinks Spotify will surpass Wall Street's second-quarter earnings forecasts. The firm and increased its price target to $320 from $317 on shares while maintaining a neutral rating. The analyst upgraded the e-commerce stock to buy from neutral and raised his price target to $82 per share from $78. Analyst Alan Gould downgraded the forum social network stock to hold from buy and reiterated a $75 per share price target.

Persons: Wolfe, Goldman Sachs, Wall, Eric Sheridan, Brian Evans, Shopify, Brad Sills, Sills, — Brian Evans, Jefferies, Surinder Thind, Piper Sandler, Peter Keith, Keith, DLTR, Alan Gould, Gould, Shweta, Khajuria, Fred Imbert Organizations: CNBC, Wolfe Research, Bank of America, Spotify, Jefferies, EPAM, EPAM Systems, Trump, Biden, Democrat, Advertising, Cloud Computing, Health, Business, Amazon Logistics Locations: Reddit, Monday's

☆ Spirit Airlines forecasts wider quarterly loss as revenue falls short of expectations
▼ + stars: | 2024-07-16 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport in Austin, Texas, on Feb. 12, 2024. Spirit Airlines said Tuesday it would post a wider-than-expected loss for the last quarter because of revenue that came in short of its expectations. Spirit expects to report an adjusted loss of between $160 million and $173 million for the three months ended June 30, compared with a previous estimate for a loss of no more than $145 million. Spirit said non-ticket revenue, which accounts for the myriad fees long associated with its rock-bottom fares, came in "several dollars lower than anticipated" per passenger. "As the Company progresses on its transformation strategy, it anticipates that over time it will be able to drive improvement in total revenue per passenger segment," Spirit said.

Persons: Whitney Organizations: Spirit Airlines, Austin, Bergstrom International Airport, Frontier Airlines, Pratt, JetBlue Airways Locations: Austin , Texas, U.S

☆ Trump Media Stock Jumps as Traders Bet on His Rising Political Fortunes
▼ + stars: | 2024-07-15 | by ( Matthew Goldstein | More About Matthew Goldstein | ) www.nytimes.com time to read: +1 min

Shares of former President Donald J. Trump’s social media company surged on the first trading day after his attempted assassination. Shares in Trump Media & Technology Group, the parent company of the Truth Social platform, rose more than 30 percent soon after the start of trading. Mr. Trump is the largest shareholder of Trump Media, with 114 million shares. Trump Media has been a volatile stock since it debuted in the market in March after its merger with a cash-rich shell company. Trump Media is not generating much in the way of revenues from advertising on Truth Social, but at times the stock has become a proxy for Mr. Trump’s political fortunes.

Persons: Donald J, Trump, Trump’s Organizations: Trump Media & Technology Group, Trump Media, Truth

☆ Stocks making the biggest moves midday: Intuit, AMD, LegalZoom.com, Baidu and more
▼ + stars: | 2024-07-10 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

In terms of revenue, LegalZoom now expects between $675 million and $685 million for the full year. Taiwan Semiconductor Manufacturing — The chip stock advanced 3% following the company's revenue results . Though the company's reported T$207.87 billion for the month of June was a 9.5% decrease from last month, it was a 32.9% increase from the year-ago period. For January through June this year, the company reported T$1.27 trillion, which is a 28% increase from the same period last year. Carvana — Shares of the online car seller added 5% after Needham upgraded the stock to buy from hold.

Persons: LegalZoom.com, Dan Wernikoff, Jeffrey Stibel, LegalZoom, Carvana, Needham, robotaxi, —, Alex Harring, Fred Imbert, Samantha Subin, Pia Singh, Michelle Fox, Darla Mercado Organizations: Intuit —, Intuit, Taiwan Semiconductor Manufacturing, Baidu, Street Journal, Shanghai, Mastercard, Visa, Bank of America, Manchester United, BioSciences, Analysts, Illumina, Teva Pharmaceutical Industries, Argus, UBS, Science, AMD, Silo Locations: China, Shanghai, Hoka, Europe

☆ This AI play is about to issue an upside preannouncement, according to a Wells Fargo analysis
▼ + stars: | 2024-07-10 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

That leaves Wells Fargo optimistic about a possible update from the company late next week, particularly given improved sentiment and valuation behind the stock. But under the most optimistic, upside scenario, Wells targets the stock at $1,200, suggesting 34% upside. This year, Super Micro has more than tripled, climbing 215%, as analysts have touted the company as a back-door play on artificial intelligence. Wells Fargo cites Nvidia's Blackwell product cycle, which includes GB200 Grace-Blackwell Superchips in late 2024, saying its customer base is significantly more diverse compared with Nvidia's Hopper GPU architecture. "We are positive on SuperMicro's ability to continue to be a meaningful player in the ongoing AI server investment cycle," Rakers said.

Persons: Wells Fargo, Aaron Rakers, Wells, Rakers, FactSet, Nvidia's Blackwell, Grace, Blackwell Superchips Organizations: Super

☆ There's a reason AI firms can barely conceal their contempt for the creative industry
▼ + stars: | 2024-07-09 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

AI companies have been upfront with their goal to disrupt the creative industry. But they have barely been able to hide their contempt for the artists they are trying to displace. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAI companies may be hard at work disrupting the creative industry, but some firms can barely hide their disdain for the artists their product might hurt. This story is available exclusively to Business Insider subscribers.

Persons: —, Mira Murati, Murati Organizations: Service, creatives, Dartmouth College, Business Locations: Columbia, mater

☆ UiPath to lay off 10% of workforce in companywide restructuring
▼ + stars: | 2024-07-09 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Daniel Dines, Co-founder & CEO at UiPath addresses the audience during the third day of the Web Summit 2021 at Parque das Nacoes in Lisbon. UiPath , a developer of automation software, is cutting 10% of its workforce, or about 420 jobs, as part of a broader restructuring, the company said in filing with the SEC on Tuesday. Most of the layoffs will be implemented by the end of the first quarter of fiscal 2026, the company said. UiPath shares dropped about 7% on Tuesday and have now lost more than half their value this year. UiPath said Tuesday that it expects to incur $15 million to $20 million in costs related to the layoffs, and total restructuring costs between $17 million and $25 million.

Persons: Daniel Dines, UiPath, Rob Enslin, — CNBC's Rohan Goswami Organizations: Parque das Nacoes, SEC, Nasdaq Locations: Lisbon, UiPath, U.S

☆ Apple stock has 17% upside because the AI revolution will have to run through its hardware, Wedbush says
▼ + stars: | 2024-07-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Apple's upcoming AI upgrade will trigger a surge of app interest, Wedbush Securities said. Its new Apple Intelligence will make the firm the "gatekeeper" of AI customers, the note said. Meanwhile, the iPhone 16 upgrade will prompt an upgrade cycle this fall. Encouraging the outlook is an improving demand in China, and an iPhone growth turnaround will likely begin by September, he said. The "massive" upgrade cycle puts Apple on route to a $4 trillion market capitalization.

Persons: —, Dan Ives, Ives, Steve Eisman Organizations: Wedbush Securities, Apple Intelligence, Service, Apple, Worldwide, Conference, Google, Ives, CNBC Locations: that's, Cupertino, It's, China, Asia

☆ There's a new top pick on Wall Street emerging in the media space
▼ + stars: | 2024-07-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

"Big picture - pricing and margin trajectory reinforces [overweight] thesis, top pick in media & entertainment," wrote Morgan Stanley analyst Benjamin Swinburne, referring to the audio streaming giant. The firm's $370 price target suggests 17% upside from Friday's close, while a $450 bull scenario implies that shares can rally 42%. The analyst also highlighted Spotify's leading product position, solid user growth runway and underappreciated earnings power among the reasons for the bullish thesis. Wells Fargo analyst Steven Cahall reiterated his overweight rating on Spotify and his $400 price target, citing long-term margin potential spurred by price hikes and a "margin accretive dynamic" with labels. The price increases should add 9.3% to year-over-year average revenue per user and offer a 905 million euro lift to 2025 revenues.

Persons: Morgan Stanley, Benjamin Swinburne, Swinburne, Morgan Stanley isn't, Wells, Steven Cahall Organizations: Spotify Technology, Spotify Locations: 2H24, EBITDA

☆ The pool party’s over as Americans ease up on backyard upgrades
▼ + stars: | 2024-07-04 | by ( Davis Giangiulio | ) www.cnbc.com time to read: +5 min

Americans will be splashing around this summer in the backyard pools they've already got, but not splashing out as much on new ones. Swimming pool installations were part of the home improvement frenzy that swept the country during the pandemic as Americans were stuck at home. Pool Corp., a national pool equipment distributor with a roughly $11 billion market valuation, said last week it expects new pool construction to fall by 15% to 20% this year. But businesses that rely on Americans' appetite for home upgrades are still adjusting to leaner times — including pool builders. In Arizona, Ast said, "the lines get blurred a little bit between luxury and need in the middle of the desert."

Persons: Skip Ast, wasn't, Scott Payne, Payne Organizations: Pool Corp, Shasta, Airlines, Analytics, Ast, Corp Locations: Phoenix, Hatfield , Pennsylvania, Shasta, Arizona

☆ The five secrets to Ferrari’s success as a luxury brand
▼ + stars: | 2024-07-04 | by ( Robert Frank | ) www.cnbc.com time to read: +10 min

In this article RACE-IT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowIn the world of luxury, Hermès is arguably the gold standard. Analysts predict Hermès could surpass Louis Vuitton in revenue within the next three years as the world's largest luxury brand. There is one luxury company, however, that has raced past Hermès when it comes to growth and brand cache – Ferrari. To better understand what makes Ferrari a luxury brand, CNBC traveled to Ferrari headquarters in Maranello, Italy, to interview the company's CEO, Benedetto Vigna. "A luxury company is a company that is using technology, innovation, storytelling, heritage, everything, with the ultimate goal to feed that emotional side that we all have."

Persons: Birkin, Louis Vuitton, Hermès, Enzo Ferrari, Ford, Ferrari, Bernstein, Luca Solca, Benedetto Vigna, Robert Frank, Vigna, Adam Jeffery, Solca, Ferraris, Martyn Lucy, Bernard Arnault, Crystal Lau, Francesca Volpi Organizations: Ferrari, New York Stock Exchange, General Motors, CNBC, Ferraris, Goodwood Festival, Getty, Spiders, Rolex, Hermès, Bloomberg Locations: Maranello, Italy, Geneva, Chichester , England, it's, California, Roma

☆ Online-gambling giants conquer U.S. with tactics deemed too tough for Britain
▼ + stars: | 2024-07-03 | by ( ) www.cnbc.com time to read: +22 min

NYSEIn 2018, British regulators sanctioned the UK arm of online gambling giant Flutter after it failed to catch an astonishing anomaly. The United States is Flutter's largest and fastest-growing market in terms of revenue. Both online sports betting and online casinos have been legal and regulated far longer in Britain than in the United States. But in the United States, Flutter doesn't place such limits on the age group. Around a decade ago, British politicians became concerned about a rise in gambling-linked fraud and suicides involving online VIP customers.

Persons: Peter Jackson, America —, Amit Patel, Patel, Alex King, King, FanDuel, Chris Ratcliffe, haven't, hasn't, Jackson, weren't incentivized, Flutter's FanDuel, Entain, Rob Wood, BetMGM, Paul Tonko, Tonko, Entain's Wood, —, Joe K, Joe, Pavlo Gonchar, Rob Gronkowski, Jamie Foxx, Foxx, Gronkowski, Goldman Sachs, who'd, Betfair, Entain's, Felicia Grondin, Silquia Patel, Eduardo Munoz, Flutter's, Chris Jones, Josh Giaramita Organizations: MGM, New York Stock Exchange, NYSE, Flutter's U.S, Jacksonville Jaguars, Reuters, Fanduel Inc, Bloomberg, Getty, The New York Stock Exchange, NYSE BetMGM, MGM Resorts International, MGM Resorts, New York Democrat, U.S, Lightrocket, Supreme, American Gaming Association, New York, Gaming Commission Locations: America, Edinburgh, Britain, United States, Dublin, U.S, British, BetMGM, New Jersey, States, United Kingdom, Ireland, New York, East Rutherford , New Jersey, FanDuel

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