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☆ Fanatics to launch live events business as it seeks to create a sports version of Comic-Con
▼ + stars: | 2023-07-13 | by ( Yuheng Zhan | ) www.cnbc.com time to read: +2 min

Fanatics will launch a new live events business that will look to recreate the Comic-Con experience for sports collectibles, the company said Thursday. The new venture, called Fanatics Events, will be a partnership with events and talent management giant IMG, which is part of Endeavor . Fanatics Events plans to organize global events through partnerships and acquisitions. Fanatics said Fanatics Events aims to start holding events next year. "Fanatics Events will be super-charged by the full power of Endeavor's flywheel, global network, and events expertise to deliver once-in-a-lifetime moments that fans will remember forever," said Paul Caine, president of On Location and IMG Events.

Persons: Goldman Sachs, DraftKings, Lance Fensterman, Fensterman, Paul Caine, –, Jessica Golden Organizations: Endeavor, Barclays, York Comic Con Locations: U.S

☆ Bank of America says this gambling stock is reaching an 'inflection point' and should rally 20%
▼ + stars: | 2023-07-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

DraftKings is poised for an upswing as the sports betting stock nears an inflection point, according to Bank of America. Shaun Kelley upgraded the sports betting stock to a buy from a neutral rating, citing expectations for an acceleration in revenue momentum and inflection in both margins and profitability. The analyst lifted his price target to $35 from $25 a share, reflecting about 21% upside from Tuesday's close. He expects the market to grow 35% year over year in 2023 and at a 15% compounded annual growth rate between this year and 2027. "DraftKings has also reached a key cost inflection in its young business model, as we believe the rate of growth in cost of revenue and external marketing have peaked," Kelley said.

Persons: DraftKings, Shaun Kelley, DKNG, Kelley, " Kelley, — CNBC's Michael Bloom Organizations: Bank of America Locations: That's

☆ Here are Wednesday's biggest analyst calls: Nvidia, Tesla, DraftKings, Amazon, Netflix, TJX and more
▼ + stars: | 2023-07-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

TD Cowen reiterates Nvidia as outperform TD Cowen said it's standing by its outperform rating on the stock. Bank of America upgrades DraftKings to buy from neutral Bank of America upgraded the fantasy sports company due to a margin inflection. Citi reiterates Tesla as neutral Citi said it's "neutral to slightly negative" on Tesla heading into earnings next week. Bank of America upgrades Stellantis to buy from neutral Bank of America said in its upgrade of the European automaker that it sees valuation upside. Bank of America downgrades Cisco to neutral from buy Bank of America said in its downgrade of Cisco that consensus estimates are too high.

Persons: TD Cowen, Cowen, it's, Oppenheimer, Baird, Locker, underperformed Ford, JPM, YTD, Holley, Tesla, Raymond James, SunPower, it's bullish, Morgan Stanley, Lazard, Davidson downgrades Redfin, Davidson Organizations: Nvidia, NVIDIA, Nasdaq, AMD, Companies, Citi, General Motors Citi, Watch, GM, JPMorgan, Bank of America, of America, UBS, Netflix, Tech, Cisco, AstraZeneca Locations: China, California

☆ Stocks making the biggest moves midday: Domino's Pizza, DraftKings, Lucid, SunPower and more
▼ + stars: | 2023-07-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The agreement has the potential to add incremental orders from Uber Eats to 70% of Domino's stores, the company said. DraftKings — Shares of the sports betting app rallied about 5% following an upgrade to buy by analysts at Bank of America. Bank stocks — Bank stocks jumped after consumer prices came in lighter than expected. SunPower — Shares jumped 9.4% after the solar power company was upgraded by Raymond James to strong buy from outperform. Beyond Meat shares added 4% in the previous session.

Persons: Uber, DraftKings, it's, Lazard, Jefferies, Morgan Stanley, Goldman Sachs, KeyCorp, Lucid, FactSet, Raymond James, Pavel Molchanov, Stellantis, Holley, JPMorgan, Yun Li, Alex Harring, Samantha Subin, Michael Bloom Organizations: Domino's, Bank of America, TV, Jefferies, Bank, — Bank, Citigroup, Goldman, Comerica, Acadia Healthcare, Holley Inc, —, JPMorgan Chase Locations: Zions, U.S, New Mexico, Acadia

☆ 3-Stock Lunch: DKNG, TJX & CSCO
▼ + stars: | 2023-07-12 | 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 Email3-Stock Lunch: DKNG, TJX & CSCOJay Woods, Freedom Capital Markets, joins ‘Power Lunch’ to discuss three stocks: DraftKings, TJX Companies and Cisco.

Persons: Jay Woods Organizations: Freedom Capital, TJX Companies, Cisco

☆ Stocks making the biggest moves midday: Carvana, Icahn Enterprises, Novavax, Fisker and more
▼ + stars: | 2023-07-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Carvana — Shares soared 10% in midday trading. The company said on Monday it expected exponential growth within its used electric vehicle segment as consumer demand for EVs skyrocket. Lucid — The luxury electric vehicle company added 3.4%. Fisker — Fisker rose 2% after the electric vehicle maker said it's issuing a $340 million convertible note offering. On Friday, the company disclosed in a securities filing that it would receive $350 million from Canada for unused Covid-19 vaccines.

Persons: EVs skyrocket, Morgan Stanley, Jefferies, DraftKings, Carl Icahn's, Fisker, Jesse Pound, Sarah Min, Yun Li, Samantha Subin Organizations: EVs, Shockwave, JPMorgan, Cava, Icahn Locations: Cava, Canada

☆ These stocks that are about to turn a profit should beat the market, Jefferies says
▼ + stars: | 2023-07-09 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

In a Thursday note, the firm outlined a basket of stocks that may be on the brink of turning a profit. Jefferies has a buy rating on DraftKings stock with a $35 per share price target, or about 39% upside from Thursday's close. Jefferies' buy rating and $250 per share price target equates to roughly 18% upside for the stock from Thursday's close. SoFi stock has climbed more than 78% from the start of the year. SOFI YTD mountain Jefferies' buy rating and $9.60 price target forecasts about 19% upside for SoFi Stock.

Persons: Jefferies, John Colantuoni, Colantuoni Organizations: CNBC, Boeing, Jefferies, SoFi Stock Locations: SoFi, fintech

☆ Stocks making the biggest moves midday: Rivian, Levi Strauss, Biogen, First Solar and more
▼ + stars: | 2023-07-07 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Rivian Automotive — The electric vehicle maker popped more than 16% after Wedbush raised its price target on shares to $30 from $25, citing an improved outlook. Levi Strauss — Shares of the jeans maker slumped 6.7% after the company cut its full-year profit forecast on Thursday. Levi Strauss now expects an adjusted $1.10 to $1.20 per share compared to a previous range of $1.30 to $1.40. First Solar — The solar company climbed 4.6% after receiving a five-year revolving line of credit as well as a guarantee for a $1 billion facility. The firm said it sees sales of TG Therapeutics' treatment for relapsing forms of multiple sclerosis, Briumvi, to come in above expectations for the second quarter.

Persons: Alibaba, Wedbush, Levi Strauss —, Levi Strauss, Cantor Fitzgerald, DraftKings, Jefferies, CNBC's Hakyung Kim Organizations: Reuters, Ant Group, JPMorgan, Therapeutics, TG Therapeutics, Food and Drug Administration Locations: Chicago , Illinois, Alibaba —, Thursday's

☆ Read the pitch decks from sports and video game startups that helped raise millions of dollars
▼ + stars: | 2023-07-06 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +3 min

Here are pitch decks 10 sports startups used to raise millions in Series A and Seed rounds. This has opened the opportunity for startups to build marketplaces or creator tools to help student-athlete creators. Insider talked with a handful of sports startup founders who've pitched their startups to investors about their process. They broke down the pitch decks they used to secure millions of dollars in funding. Read the pitch decks that helped 10 sports-focused startups raise millions of dollars:This post has been updated with new information.

Persons: It's, Kevin Kim, Kim, who've Organizations: Sports, Venture, Technology, Labs, NBA Locations: California

☆ Fanatics increases its offer to $225 million to acquire PointsBet's U.S. assets
▼ + stars: | 2023-06-28 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

Fanatics has raised the stakes as it looks to acquire PointsBet's U.S. business. The sports platform company increased its offering by 50% to $225 million in an effort to outbid DraftKings , which made a non-binding offer of $195 million earlier this month. PointsBet shareholders will formally vote on the new offer Thursday night. "The Board unanimously supports the improved proposal from Fanatics Betting and Gaming, which provides a superior price plus certainty," PointsBet Chairman Brett Paton said in a statement. Fanatics CEO Michael Rubin told CNBC after the DraftKings announcement that he was highly skeptical of their proposed offer, which he viewed as DraftKings attempting to slow Fanatics down.

Persons: Michael Rubin, DraftKings, Brett Paton, PointsBet, Jason Robins, Paton, Rubin Organizations: PointsBet's, CNBC, PointsBet, U.S, Gaming Locations: New York, Melbourne, U.S, Australia, Canada

☆ Wimbledon is the only grass court Grand Slam
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +9 min

The grass courts are now in session Wimbledon is the only grass court Grand Slam and retains a glamor born from white clothes and impeccable green courts. The grass courts at Wimbledon are grown from 10 metric tons of seed each year, with renovations beginning in September. Until 1974, the only Grand Slam tournament played on a surface other than grass was the French Open, and now Wimbledon is the lone remaining grass Grand Slam. Grand Slam surface history Wimbledon is the oldest of the Grand Slam tournaments and has been held on grass though its entire duration. Relative court speeds A row of three embroidered tennis court patches displaying different surfaces on a spectrum, showing the grass court at the fastest end and the clay court at the slowest end.

Persons: ”, Caitlin Thompson, ” Thomson, ” Clay, Eddie Seward, John McEnroe, Pete Sampras, Thompson, Novak Djokovic, Roger Federer, “, Djokovic, Draftkings Organizations: Wimbledon, U.S ., New York Times, Association of Tennis Professionals Locations: you’ll, French, Wimbledon, racquets, Serbian

☆ Andrew Tate says he wants to train Elon Musk to fight the jiu-jitsu loving Mark Zuckerberg, after the two billionaires told the world they'd go mano a mano in a cage match
▼ + stars: | 2023-06-23 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Controversial influencer Andrew Tate wants to train Elon Musk to take down Mark Zuckerberg. Musk and Zuckerberg have been hyping up a potential "cage match" between them. Andrew Tate has offered to be billionaire Elon Musk's trainer in an apparent upcoming cage match with Meta founder Mark Zuckerberg. "Meta banned me everywhere for telling the truth about vaccines," Tate wrote. "Let's go full MMA," Musk tweeted on Thursday evening.

Persons: Andrew Tate, Mark Zuckerberg, Zuckerberg, Elon Musk's, Tate, Meta, Musk, tweeting, Iska Saric, Alex Heath, he'd, who's, Insider's Will Gendron, Bovada, It's, Musk's, Maye Organizations: Elon, Morning, Meta, Facebook, Tesla, Twitter, Sports, Las Vegas UFC, Tate Locations: Instagram, Romania, Redwood City , California

☆ Elon Musk and Mark Zuckerberg were grumbling about each other behind closed doors long before talk of a potential cage fight, report says
▼ + stars: | 2023-06-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Before the cage match offer, Elon Musk and Mark Zuckerberg privately grumbled about each other, WSJ reported. Tensions between Elon Musk and Mark Zuckerberg appear to have been simmering for quite some time — long before the two indicated they might be ready to settle their differences in a cage match. The Tesla CEO was named as Time's Person of the Year in 2021 and has received wide recognition for running five different companies, including Tesla and SpaceX. The Meta CEO was quick to respond to Musk's taunt, telling him "Send me location." Meanwhile, a spokesperson for Meta told The Verge that Zuckerberg is serious about the offer to fight.

Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, gripes, Musk, Bill Gates, Jeff Bezos, Forbes, Tesla, Dana White, Insider's Hasan Chowdhury Organizations: Morning, Elon, Street, Meta, Tesla, SpaceX, Facebook, Bloomberg, Vegas, UFC, Twitter, DraftKings

☆ The betting odds are rolling in for who is favored to win in a cage fight between Elon Musk and Mark Zuckerberg
▼ + stars: | 2023-06-22 | by ( Will Gendron | ) www.businessinsider.com time to read: +4 min

Elon Musk raised the possibility of a hypothetical "cage match," with Mark Zuckerberg, over Twitter. Who has better odds in a physical match-up between Mark Zuckerberg and Elon Musk? Now, oddsmakers are hurriedly putting out betting lines for a cage fight between Zuckerberg and Musk — aged 39 and 51 respectively. Meanwhile, Musk was listed as a +140 underdog, meaning a $100 bet on Twitter's former CEO to win, would net $140. In its prediction, Musk is a -150 favorite, meaning you would have to bet $150 to win $100, while Zuckerberg is a +110 underdog, meaning a $100 bet, would net $11o.

Persons: Elon Musk, Mark Zuckerberg, Instagram, Sportsbooks, Elon, Musk, Zuckerberg, Nurmagomedov's playbook, Johnny Avello, DraftKings, Zuck, Dana White Organizations: Twitter, Meta, Morning, sportsbooks, Elon, UFC, & Sports Operations, TMZ Sports

Violations were found in 25-50% of audits reviewed, depending on the audit standard at issue, the SEC said. "Marcum neglected its essential gatekeeper function in service to its own growth," said SEC Chair Gary Gensler in a statement. The SEC found the deficiencies were not limited to Marcum's SPAC clients. In addition to the civil penalty, settlement requires Marcum undertake remedial actions including hiring an independent consultant to review its policies procedures and to abide by certain restrictions when taking on new clients. Reporting by Chris Prentice; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcum, Nikola, Gary Gensler, Chris Prentice, Conor Humphries Organizations: Nikola, U.S . Securities, Exchange Commission, SEC, SPACs, Marcum, DraftKings Inc, Thomson

☆ Chris Christie's appeal with moderates and previous ties to Trump helped make him the 'George Washington' of sports betting, former lobbyist said
▼ + stars: | 2023-06-18 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

His ties to former Donald Trump helped foster relationships with companies, per the Times. One such company was sports betting site DraftKings, the Times reported. Christie asserts that his time working with the company did not overlap with his time working with Trump. Sports betting companies like DraftKings also paid Christie thousands to advise and lobby their interests. One unnamed source told the outlet that one company, Scientific Games, paid Christie $30,000 a month as a consultant in 2018.

Persons: Chris Christie, Donald Trump, —, Christie, DraftKings, Jeremy Kudon, Trump, George Washington, Kudon, Trump's Organizations: New York Times, Times, Service, Pacira Biosciences, Trump, Trump . Sports, Sports, Hall of Fame, Scientific, Scientific Games Locations: New Jersey

Sports gambling powerhouse DraftKings has made a $195 million, all-cash offer for PointsBet's U.S. assets, it said on Friday, as it looks slow down the rise of Fanatics. The offer comes a month after Fanatics agreed to buy the Australian company for $150 million in an effort to boost its presence in sports gambling. "We believe DraftKings is uniquely positioned to submit this superior proposal due to our scale and corresponding ability to generate meaningful synergies from the acquisition." Fanatics CEO Michael Rubin told CNBC after the announcement that he's highly skeptical of the deal, which he views as DraftKings attempting to slow Fanatics down. "It's a move to delay our ability to enter the market," Rubin said.

Persons: DraftKings, Jason Robins, Michael Rubin, Rubin Organizations: Sports, PointsBet's U.S, CNBC Locations: United States

☆ The Business of Being Chris Christie
▼ + stars: | 2023-06-16 | by ( Nick Corasaniti | Alexandra Berzon | ) www.nytimes.com time to read: +1 min

And in 2018, the Christies bought a multimillion-dollar shorefront home in Bay Head, one of the more exclusive towns on the Jersey Shore. The business of being Chris Christie has received only sporadic attention since he left public office. Mr. Christie has made millions from interests wanting to leverage his political ties, including pharmaceutical, medical and sports betting companies, like DraftKings — whose hiring of Mr. Christie has not been previously reported. Some had business with the state when Mr. Christie was governor, and saw him as a reliable advocate for their bottom line, while others were interested in tapping into his close association with Mr. Trump and the Trump administration. Christie 55 Solutions earned roughly $1.3 million in federal lobbying fees from April 2020 to April 2021, according to federal records.

Persons: Bon Jovi, Chris Christie, Donald J, Trump, —, Christie, DraftKings Organizations: New, Mr, Christie, Pacira Biosciences, ABC News Locations: Bay Head, Jersey Shore, New Jersey

☆ Stocks making the biggest premarket moves: Virgin Galactic, Adobe, SoFi, Cava and more
▼ + stars: | 2023-06-16 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Virgin Galactic — Shares soared nearly 45% in premarket trading, a day after the company said its first commercial space tourism flight is set for later this month. Adobe — The tech stock rallied nearly 5% following its earnings and revenue beat after the bell Thursday. SoFi Technologies — Shares dropped about 6% after being downgraded by Piper Sandler to neutral from buy. Cava Group — The newly debuted restaurant stock rose more than 4% in premarket trading on Friday, extending its massive gains from Thursday's session. DraftKings — Shares rose more than 1% after the online betting company made a $195 million offer for PointsBet's U.S. assets, outbidding Fanatics.

Persons: Piper Sandler, Oppenheimer, Cava, —, Jesse Pound Organizations: Virgin Galactic —, Adobe, Markets, Micron Technologies, Bloomberg, Micron, DraftKings, PointsBet's U.S Locations: India

☆ DraftKings and FanDuel are dominating sports betting
▼ + stars: | 2023-05-31 | by ( Contessa Brewer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDraftKings and FanDuel are dominating sports bettingCNBC's Contessa Brewer joins 'Squawk on the Street' to report on DraftKings' outperformance and dominance in the sports betting sector.

Persons: Contessa Brewer

☆ Three Stock Lunch: Chevron, Nike & DraftKings
▼ + stars: | 2023-05-22 | 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: Chevron, Nike & DraftKingsEva Ados, ER Shares chief operations officer, joins ‘Power Lunch’ to discuss three stocks: Chevron, Nike and DraftKings.

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

☆ Stocks making the biggest moves midday: PacWest, DraftKings, Pfizer, Foot Locker and more
▼ + stars: | 2023-05-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. DraftKings — Shares of the sports gambling platform soared 8% in midday trading. Earlier on Monday, UBS upgraded the stock to buy from neutral on strong growth in new states. Zions Bancorporation — The bank stock jumped 6.7% after Hovde Group initiated coverage of Zions at outperform, with a $40 price target, according to FactSet. Norfolk Southern — Norfolk Southern gained less than 1% during midday trading.

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, DraftKings, Nike, Snowflake & more
▼ + stars: | 2023-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Piper Sandler names Microsoft, Snowflake and Oracle top AI picks Piper said that Microsoft, Snowflake and Oracle are the next "all-stars" in AI. Citi adds a negative catalyst watch on Nike Citi said Foot Locker's negative earnings report last week does not portend well for Nike. Citi downgrades Foot Locker to neutral from buy Citi downgraded Foot Locker after its disappointing earnings report last week and says shares are not fully de-risked. Deutsche Bank reiterates Snowflake as buy Deutsche says it's "constructive" heading into Snowflake earnings on Wednesday. Bank of America reiterates Alphabet as buy Bank of America says the internet search giant is "well positioned for mobile."

☆ Buy this sports gambling stock for 24% upside on new market penetration, UBS says
▼ + stars: | 2023-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

DraftKings' penetration into new states could add to an already explosive year of growth for the stock, according to UBS. The firm upgraded the stock to buy from neutral on Monday, with a $30 price target up from $19. The new price target represents more than 24% upside compared to DraftKings' $24.11 close on Friday. UBS analyst Robin Farley said the company's ability to capture market share in new states is enough to fuel further growth in the stock. DKNG YTD mountain DraftKings stock.

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