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☆ ‘Race to Survive: New Zealand’: US reality show contestant kills and eats protected bird
▼ + stars: | 2024-07-24 | by ( Lex Harvey | ) edition.cnn.com time to read: +3 min

CNN —A reality show contestant who killed and ate a protected bird has been let off with a warning after New Zealand wildlife officials said cast members were tired, hungry and placed in a “unique” situation. Spencer “Corry” Jones, an American white water river guide, killed and ate the large, flightless weka during filming of “Race to Survive: New Zealand” last fall, CNN affiliate RNZ reported Tuesday. Swain said the producers of “Race to Survive” had a permit to film on public conservation land and were aware that protected species and plants could not be harvested or eaten. In a statement, “Race to Survive” production said it alerted authorities as soon as they became aware of the weka incident. New Zealand has a plethora of unique flora and fauna due to its long geological isolation from the supercontinent Gondwana, according to independent conservation organization Forest and Bird.

Persons: Spencer “ Corry ” Jones, Jones, RNZ, Oliver Dev, –, ”, Dylan Swain, ” Spencer, Corry, Brian Finestone, “, Swain, ” Jones, Dev Organizations: CNN, Zealand ”, RNZ, International Union for Conservation, USA Network, New Zealand’s Department of Conservation, USA Locations: New Zealand, American, Zealand

☆ Oil prices drop to lowest levels in more than a month
▼ + stars: | 2024-07-23 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Crude oil futures on Tuesday dropped to the lowest level in more than a month, as the market has largely ignored recent tit-for-tat strikes between Israel and Houthi militants in Yemen. Israel responded with airstrikes against Houthi targets near the Al Hudaydah Port in Yemen over the weekend, hitting oil facilities. "Oil is starting to feel as if it is heading for the doldrums," John Evans, analyst at oil broker PVM, told clients in a note. Wildfires in Alberta, however, poses a potential risk to crude supplies in Canada though production has remained solid so far, according to Goldman. The worst of the wildfire season likely lies ahead, with a third of the wildfires in Alberta burning out of control, threatening 400,000 barrels per day in production, according to the investment bank.

Persons: Goldman Sachs, John Evans, Goldman Organizations: UBS Locations: Stanton , Texas, Israel, Yemen, Tel Aviv, Al Hudaydah Port, Alberta, Canada

☆ Meet Spencer Conley, the 'Bachelorette' contestant and 'pet portrait entrepreneur' with 'golden retriever energy'
▼ + stars: | 2024-07-23 | by ( Olivia Singh | ) www.businessinsider.com time to read: +1 min

Spencer Conley is one of the 25 contestants on season 21 of "The Bachelorette" starring Jenn Tran. From night one, Jenn is attracted to Spencer's "golden retriever energy" and attentiveness. Spencer is a "pet portrait entrepreneur" from Dallas who founded Print Our Pet in 2019. AdvertisementAs contestants are eliminated each week on season 21 of "The Bachelorette," Spencer Conley's "golden retriever energy" continues to charm Jenn Tran. "Since night one, Spencer's always been one to be really attentive toward me and he has golden retriever energy, which I am digging," Jenn says.

Persons: Spencer Conley, Jenn Tran, Jenn, Spencer, —, Sam M, Devin, Spencer's Organizations: Service Locations: Dallas

CNN —The Trump campaign on Tuesday filed a complaint with the Federal Election Commission arguing money raised for President Joe Biden’s reelection bid cannot be transferred to Vice President Kamala Harris’ presidential campaign. But, he added, “that doesn’t mean it can’t get tied up in FEC proceedings for years.”An FEC spokesperson declined to comment, citing the agency’s policy on not discussing enforcement matters. “If President Biden is committed to passing the torch to his vice president, and wants to be able to seed her campaign with the current Biden for President campaign war chest, he’ll first have to become his party’s legal nominee,” Spies wrote in an op-ed in The Wall Street Journal before Biden’s exit from the race. And Federal Election Commissioner Dara Lindenbaum, a Democrat viewed as a swing vote on the evenly divided commission, has said Harris could access what Biden raised through the campaign committee because it is registered for both the president and vice president. Lindenbaum wrote on X, “If Kamala Harris becomes the Democratic Party nominee, she gets access to the Joe Biden campaign funds.”This story has been updated with additional reporting.

Persons: Joe Biden’s, Kamala Harris ’, David Warrington, ” “ Kamala Harris, Harris, Keana Spencer, “ flagrantly, ” Harris, Charles Kretchmer Lutvak, Donald Trump, MAGA, ”, “, ” Rick Hasen, Charlie Spies, Biden, he’ll, ” Spies, Dara Lindenbaum, Lindenbaum, Kamala Harris, Joe Biden Organizations: CNN, Trump, Federal, Commission, Biden, Republican, Democratic Party

☆ CNBC Daily Open: Biden drops out
▼ + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

This 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. Starbucks stake Activist investor Elliott Management has taken a substantial stake in Starbucks and is engaging with management to boost the company's share price, according to the Wall Street Journal. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.

Persons: haven't, Stephanie Pope, Max, Elliott Management, Laxman Narasimhan, Howard Schultz, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, —, Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Rohan Goswami Organizations: CNBC, Dow, Boeing, Farnborough, Wall Street, Starbucks, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: London, New York, New Delhi, Washington

☆ CNBC Daily Open: Biden drops out, endorses Harris
▼ + stars: | 2024-07-22 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) on June 01, 2023 in New York City. This 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. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Big Tech faces the challenge of rekindling Wall Street's enthusiasm after a $900 billion tech rout.

Persons: Sebastian Raedler, haven't, Stephanie Pope, Max, CNBC's Jim Cramer, Elon Musk, Dan Ives, Lina Khan, Khan, Ives, CrowdStrike, Fred Imbert, —, Alex Harring, Jesse Pound, Kevin Williams, Leslie Josephs, Josie Rozzelle, Kevin Breuninger, Dan Mangan, Zev Fima, Spencer Kimball, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Bank of America, Boeing, Farnborough, Trump, Microsoft, Securities, Big Tech, Google, Apple Locations: New York City, London, New York, New Delhi, Washington

☆ Iran Pays You to Become Trans, but It Comes at a Cost — Your Dignity
▼ + stars: | 2024-07-20 | by ( Joshua Nelken-Zitser | Additional Reporting Ida Reihani | ) www.businessinsider.com time to read: +17 min

In 2007, The Guardian reported that Iran ranked second only to Thailand in the number of gender-affirming surgeries performed. Related stories"They told me I had two options," she told BI. Molkara, who died in 2012, was instrumental in securing the fatwa that legalized gender-affirming surgeries in Iran. Related stories"The questions were so graphic that my mom, at some point, left the room," she told BI. Homosexuality as a sinJavad Sadidi, a Mashhad surgeon who specializes in gender-affirming surgeries, told BI that the process takes a minimum of two years.

Persons: Varamini, He'd, Becca Kia, I'm, Ajoudani, she's, Vahid, Ruhollah Khomeini, Khomeini's, Maryam Khatoon Molkara, Molkara, Khomeini, Kaveh Kazemi, Legal Medicine Organization —, Pooya, Eugene Gologursky, it's, Sadidi, Mahmoud Ahmadinejad, SPENCER PLATT, Elina, Shadi Sadr, who's, Soheil, he's Organizations: Business, Guardian, Eleos, Islamic Revolutionary Guard Corps, Revolutionary Guard Corps, State Welfare Organization of, Australia's Department of Foreign Affairs, Trade, Legal Medicine Organization, BI, Columbia University, Justice, Tristar Media, United, Lancet, Global Surgery, State Welfare Organization of Iran, Mahtaa Institute Locations: Tehran, Shayan, Iran, Thailand, Tehran's, Islamic Republic, Iraq, London, State Welfare Organization of Iran, Iranian American, Mashhad, Shadi, Iranian, Shadi Sadr, United Nations, Karaj, Canada

☆ The ultra-wealthy just gained $49 trillion in wealth thanks to stocks
▼ + stars: | 2024-07-19 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

There are now 426,330 individuals worth $30 million or more, known as ultra-high-net worth (UHNW) individuals, according to Altrata's World Ultra Wealth Report 2024. Their total wealth surged by 7% to $49 trillion in 2023, helped mainly by the year-end stock rally. In the U.S., the ultra-high-net-worth population increased 13%, to 147,950, meaning the U.S. now accounts for a third of the world's ultra-high-net worth population. Over the next five years, the UHNW population is expected to grow by 38% to 587,650, according to the report. Their combined fortunes will rise by $19 trillion — creating a massive new opportunity for companies that cater to the ultra-wealthy, according to the report.

Persons: Spencer Platt, Robert Frank Organizations: New York Stock Exchange, Getty Locations: New York City, U.S

☆ Carol Burnett shares time capsule tribute to Bob Newhart
▼ + stars: | 2024-07-19 | by ( Dan Heching | ) edition.cnn.com time to read: +7 min

Sid Avery/MPTV/Reuters Newhart poses as an addled accountant at an adding machine for a promotional photo of "The Bob Newhart Show." Allan Grant/The LIFE Picture Collection/Getty Images Newhart appears in a supermarket sketch during an episode of "The Bob Newhart Show" in 1961. Herb Ball/NBCU Photo Bank/Getty Images Newhart performs on the set of "The Bob Newhart Show." CBS/Getty Images Newhart counsels a clown about his problems in a 1972 episode of "The Bob Newhart Show." Walt Disney Television/Getty Images Newhart takes direction from Dick Martin, right, during a scene for "The Bob Newhart Show" in 1977.

Persons: Bob Newhart, Carol Burnett, “, Bob, ” Burnett, Newhart, Jon Favreau, “ Bob Newhart, ” Favreau, ”, Johnny Galecki, Mayim Bialik, ” Bob Newhart, Alex Welsh, Nat, King, Cole, Frank Sinatra, Harry Belafonte, Michael Ochs, Ed Sullivan, Sid Avery, MPTV, Reuters Newhart, Allan Grant, Herb Ball, Julian Wasser, Norman Fell, Johnny Carson, Frank Carroll, Bob Hartley, Ed McMahon, Suzanne Pleshette, Emily, Gene Wilder, Dick Martin, Ginnie, Robert, Timothy, Jennifer, Courtney, Ron Galella, Dick Loudon, Will Ferrell, Spencer Green, Conan O'Brien, Paul Drinkwater, NBCU, Bill Nye, Monty Brinton, Scott Kirkland, Emma McIntyre, ” Newhart, Paul Feig, ” Feig Organizations: CNN, New York Times, Michael Ochs Archives, CBS, Reuters, Bank, Getty, Paramount Pictures, NBCU, Hulton, Bettmann, Walt Disney Television, Everett, Academy of Television Arts & Sciences, Newhart, Hollywood Locations: “, Los Angeles, Chicago, Cypress Gardens , Florida, Vermont

☆ Solar stocks tumble as clean energy investors fear a Trump win — these companies are most exposed
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

This week, the benchmark Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) are down 6.2% and 4.6%, respectively. Residential solar stocks, including Enphase , Sunnova , Sunrun , SolarEdge and SunPower , would face a "severe impact" if Republicans successfully weaken or entirely repeal the IRA, according to Piper. The stock in the clean energy space with the least exposure to election risks is GE Vernova , according to a July slide deck from JPMorgan on clean energy. As a domestic manufacturer, First Solar potentially stands to benefit if the U.S. trade war with China intensifies under a Trump administration, according to Kallo. Though total IRA repeal may be unlikely, solar and clean energy stocks will "continue to be volatile until (and even after) the election due to headline risk," Kallo said.

Persons: Donald Trump, Joe Biden's, Biden, Piper Sandler, Wolfe, Piper, Enphase, SolarEdge, SunPower, Trump, Baird, Ben Kallo, Kallo Organizations: Republican Party, Democratic Party, Trump, Senate, Clean Energy, U.S, White House, Congress, Wolfe Research, Tax, Technologies, Republicans, GE Vernova, JPMorgan, GE, GOP, UBS, CNBC, Republican Locations: U.S, Ohio , Alabama, Louisiana, China

☆ U.S. will fall behind in the AI race without natural gas, Williams Companies CEO says
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

"The only way we're going to be able to keep up with the kind of power demand and the electrification that's already afoot is natural gas," Williams Companies CEO Alan Armstrong said in an interview Thursday. Williams Companies handles about one-third of the natural gas in the U.S. through a pipeline network that spans more than 30,000 miles. Some of the largest independent data center developers, which build the infrastructure that houses servers for other companies, have approached Williams to receive natural gas capacity directly from the company's pipelines, Armstrong said. We've run out of alternatives — we can't meet the needs of our customers without using natural gas,'" Armstrong said, without disclosing names. Williams projects natural gas to demand to grow 18% from 2023 through the end the decade across all sources of consumption, including power generation and liquid natural gas, Armstrong said.

Persons: Alan Armstrong, Williams Cos, Carter Smith, Williams, Armstrong, We've, We're Organizations: P Global, Bloomberg, Getty, CNBC, Williams, Williams Companies, Transcontinental, U.S, Dominion Energy, Southern Company Locations: Houston , Texas, U.S, Virginia, Georgia, Turkey, Atlanta

☆ Utah Republican Gov. Spencer Cox pledges Trump his support after saying last week he wouldn’t vote for him
▼ + stars: | 2024-07-19 | by ( Kate Sullivan | ) edition.cnn.com time to read: +3 min

Spencer Cox on Friday pledged his support to former President Donald Trump in a notable shift after telling CNN last week he would not vote for Trump in November and hadn’t voted for him in 2016 or 2020. Cox told Trump in a letter he posted on X that God “had a hand in saving you,” after the attempt on the former president’s life at his Pennsylvania rally last weekend. He had not voted for the top of the GOP ticket since 2012, Cox told Collins. In his letter, Cox said he was impressed with the statements Trump and former first lady Melania Trump made following the assassination attempt, saying that “there was strength in those words, and also humility. I’m not writing this letter looking for a position in your Cabinet or a role on your team.

Persons: Spencer Cox, Donald Trump, hadn’t, Cox, Trump, “, ”, Cox’s, ” Trump, CNN’s Kaitlan Collins, Collins, Melania Trump, Mr, I’m, Ronald Reagan, Biden, ” Cox Organizations: CNN, Utah Gov, Trump, Pennsylvania, Republican, Capitol, GOP

☆ SunPower stock collapses to nearly $1 as company halts leases, installations and shipments
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

Workers install solar panels during a SunPower installation on a home in Napa, California, US, on Monday, July 17, 2023. SunPower stock collapsed more than 40% this week after the company informed dealers that it will no longer support new leases, installations or product shipments, with analysts largely writing the company off as on the verge of going out of business. SunPower stock has lost nearly all of its value the last 12 months, with shares down nearly90% to close at $1.51 on Thursday. "We think this effectively marks the end for SPWR as an operating business," Guggenheim analysts Joseph Osha and Hilary Cauley told clients in a Friday note. "Considering the debt that the company has accumulated, we believe that SPWR's equity no longer has any value."

Persons: Roth, Guggenheim, Joseph Osha, Hilary Cauley Organizations: Guggenheim Securities, CNBC Locations: Napa , California

☆ U.S. oil holds to gains after three weeks of crude inventory declines
▼ + stars: | 2024-07-18 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

U.S. oil futures edged slightly lower on Thursday after jumping 2.6% in the previous session as crude inventories fell for the third week in a row. U.S. commercial crude inventories fell by 4.9 million barrels last week, though gasoline stocks rose by 3.3 million barrels and motor fuel demand weakened by 615,000 barrels per day. Here are today's energy prices:Falling oil inventories, geopolitical tensions in the Middle East, seasonal demand and expectations of lower interest rates have all coincided to push oil prices higher in recent weeks, Bart Melek, head of commodity strategy at TD Securities, told clients in a note late Wednesday. "However, we don't expect the current rally to be sustained," Melek said. But the market will be volatile as hurricanes, uncertainty in the Middle East, policy in China, and statements from OPEC all have the to potential to move prices, according to Melek.

Persons: Bart Melek, Melek, Brent Organizations: TD Securities, West Texas Intermediate Locations: China

☆ These 10 U.S. states have America’s worst economies in 2024
▼ + stars: | 2024-07-18 | by ( Scott Cohn | ) www.cnbc.com time to read: +12 min

That is why CNBC looks at state economies in ranking America's Top States for Business. We consider economic growth and job growth. We measure the breadth of each state's economy by looking at how many major corporations are headquartered there. Some states are at the top of their economic game — home to America's 10 best state economies. JB Pritzker, and all the major rating agencies have the state in their "A" categories for the first time in years.

Persons: Phil Scott, Jobs, J.B . Pritzker, Erin Hooley, JB Pritzker, Asplundh, Michael G, Janet Mills, Mills, Gina Raimondo, Joe Biden, Anna Moneymaker, Gina Raimondo —, —, Rhode Island's, Luke Sharrett, Ed Zurga, Bryan Tarnowski, Hurricane Katrina, New Hampshire Jada, Patrick T, Fallon, Hawaii's, Nature, Spencer Platt Organizations: CNBC, Business, Republican Gov, Direct Investment, Illinois, Illinois Illinois Gov, Thompson Center, Tribune, Service, Democratic Gov, Major Corporations, GE Healthcare Technologies, Mondelez, Seamans, Portland Press Herald, Getty, National Association of State, Officers, Pew, Major Corporation, IDEXX, Rhode, Semiconductors, America, White, U.S . Commerce, Major, CVS Health, Hasbro, Kentucky, Bloomberg, Bluegrass State, Federal Housing Finance Agency, Kansas Carpenters, Glenn Eagles, Louisiana Homes, Treme, Louisiana State University, Hurricane, Pool Corporation, Granite State, U.S . Chamber, Commerce, New Hampshire Department, Labor, The New Hampshire Tech Alliance, Afp, Aloha State Locations: U.S, States, Vermont, Illinois Illinois, Chicago, Lincoln, Illinois, Maine, Rhode Island WASHINGTON, DC, Washington , DC, Louisville , Kentucky, Bluegrass, Kentucky, Kansas, Kansas City , Kansas, Sunflower, Claiborne, New Orleans , Louisiana, New Orleans, New Hampshire, Granite, The, Hawaii, Maui, Lahaina , Hawaii, Mississippi, Biloxi , Mississippi

☆ Ocado upgrades technology arm, sending shares soaring
▼ + stars: | 2024-07-16 | by ( ) www.cnbc.com time to read: +2 min

Britain's Ocado lifted its annual guidance on Tuesday, citing an improvement in the profitability of its warehouse technology business, reassuring investors and sending its shares up by 18%. The group runs an online grocer in Britain through a joint venture with Marks & Spencer and also sells its cutting-edge warehouse technology to retailers around the world. Citi analysts said the share price reaction was to be expected given the upgrades to technology and cash expectations, plus weakness in recent days. It also forecast underlying cash flow would improve by 150 million pounds, ahead of a previous expectation of 100 million pounds, and said liquidity remains strong at 1.05 billion pounds. First-half underlying earnings, or adjusted EBITDA, Ocado's preferred measure, was 71.2 million pounds, up from 16.6 million pounds.

Persons: Britain's Ocado, Spencer, Tim Steiner, I'm, We've, Steiner, Ocado, Sobeys, Kroger, Ocado's Organizations: Marks, Citi Locations: Britain, United States

☆ Small caps are the hottest trade going in the stock market right now and they're up again Tuesday
▼ + stars: | 2024-07-16 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City. The Russell 2000 index , the benchmark for the group, hit its highest level since January 2022 on Monday. The iShares Russell 2000 ETF, which tracks the index, was up about 1% in premarket trading Tuesday. The ETF is up 9% over the last one month, nearly triple the gains in the S&P 500. Stock Chart Icon Stock chart icon Russell 2000Fundstrat's Tom Lee, who's been correctly calling the stock market for the past few years, said the rally in small caps could last for more than two months, seeing dramatic gains for this cohort.

Persons: Spencer Platt, Russell, Tom Lee, who's, Lee Organizations: New York Stock Exchange, Getty, Investment Locations: New York City

A high-yield savings account has a higher interest rate than a typical bank savings account. A financial planner says they work best for short-term savings goals, like planning for a vacation. Here are three situations where Betts says you should definitely keep your cash in a high-yield savings account. Creating a travel budgetBetts advises his clients to use a high-yield savings account to save up for their travels. Paying down debtExperts recommend only keeping three to six months in a high-yield savings account for emergencies.

Persons: Spencer Betts, Betts, They're

☆ Kevin Costner seems set to continue with 'Horizon' saga despite the 1st film flopping and the 2nd being pulled from theaters
▼ + stars: | 2024-07-13 | by ( Eve Crosbie | ) www.businessinsider.com time to read: +3 min

Read previewThe second installment of Kevin Costner's "Horizon" film series will no longer be coming to theaters next month following the first film's disappointing box office performance — but that doesn't appear to be fazing the star. Despite the setback, Costner seems set on proceeding with the remaining two films of the "Horizon" tetralogy. Kevin Costner directing on the set of "Horizon." In 2014, he also provided the entire $9 million budget for "Black or White," a drama also starring Octavia Spencer and Bill Burr. It brought back more than double his investment at the box office, taking home over $21.5 million.

Persons: —, Kevin Costner's, Max, Costner, Kevin Costner, Richard Foreman, Warner, Oscar, It's, he's, Octavia Spencer, Bill Burr, hasn't Organizations: Service, Hollywood, Business, Pictures, Variety, Warner Bros, Territory Pictures Locations: Costner, Santa Barbara

☆ U.S. crude oil rises for third day, tops $83 per barrel after inflation eases, inventories fall
▼ + stars: | 2024-07-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

U.S. crude oil rose 1 % on Friday, topping $83 per barrel as consumer prices eased and inventories fall. The recent oil rally has stalled out with West Texas Intermediate largely flat this week, ahead 0.38%, after booking four-straight weeks of gains. U.S. crude oil and gasoline inventories also fell for the week ended July 5, in a sign that summer fuel demand may be finding some life. OPEC and the International Energy Agency once again sent conflicting demand signals. JPMorgan sees a global oil demand gain of 1.4 million bpd this year.

Persons: John Evans, Brent, Natasha Kaneva, Kaneva Organizations: West Texas, Reserve, JPMorgan, International Energy Agency, Colorado State University Locations: China, Gulf, Hurricane

☆ 10 things to watch in the stock market Friday, including bank earnings and inflation
▼ + stars: | 2024-07-12 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

10 things to watch Friday, July 12 Will the market rotation out of year-to-date tech winners and into the rest of the market continue? JPMorgan reported a top and bottom line beat: Revenue of $50.99 exceeded estimates of $49.87 billion; adjusted earnings per share (EPS) of $4.26 beat by 7 cents. No change to full-year 2024 expectation of $91 billion net interest income (NII) and $92 billion in adjusted expense. Revenue of $20.69 billion beat estimates of $20.29 billion and EPS of $1.33 beat by 4 cents. NII of about $13.5 billion beat estimates of $13.22 billion.

Persons: Charlie Scharf's, Wells, Tesla, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, JPMorgan, Investment, Equity, Wells, Citigroup, UBS, Technologies, Citi, Wester Digital, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, Getty Locations: Wells Fargo, New York City

☆ UBS downgrades Tesla to sell rating, warns that AI fervor could wane
▼ + stars: | 2024-07-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

The premium attached to Tesla's stock is increasingly difficult to justify as the company's core auto business deteriorates while enthusiasm over the effect of artificial intelligence on its future growth could wane, according to UBS. UBS analysts led by Joseph Spak downgraded Tesla to sell, though they increased their price target by $50 to $197 per share. The higher target still implies 18% downside from Thursday's close of $241.03 per share. But taken together, this is only $93 of identifiable value in the current share price, which means future option value represents 61% of today's stock, the UBS analysts said. "Given the lack of visibility and the risk that these growth opportunities materialize on a longer time horizon (or don't materialize at all), we rate the stock Sell."

Persons: Joseph Spak, Tesla, Spak Organizations: UBS

☆ Big Tech has a problem thanks to energy-gobbling AI. These stocks may help solve it
▼ + stars: | 2024-07-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The tech sector faces a moment of truth in its ambitious climate targets, as the growing power needs of artificial intelligence data centers jeopardize the industry's promise to slash carbon emissions. Goals at risk The energy needs of AI computing pose a significant challenge to Google's and Microsoft's ambitious climate goals. Google aims to achieve net-zero emissions by 2030 through around-the-clock carbon-free energy on every electric grid where it operates. Holcim and Skia offer construction solutions that improve energy efficiency and promise to reduce the carbon footprint of buildings. Schneider Electric and Legrand help make data center servers more efficient through power management and temperature solutions.

Persons: Keith Weiss, Morgan Stanley's, Morgan Stanley, Legrand, Schneider Organizations: Google, Microsoft, AES Corporation, Bloom Energy, AES Corp, Schneider

☆ This utility is one of the best performing stocks in the market with room for more AI demand upside
▼ + stars: | 2024-07-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +6 min

A Texas-based power company that only joined the S & P 500 two months ago is the third-best performing stock in the index this year, boosted by the same demand for everything connected to artificial intelligence. Fast forward to today and Vistra stock has soared 139% this year, adding $18.5 billion to its market cap, which now totals $32 billion, according to FactSet data. "We are always surprised when you see a move the size that we've seen, but I think it's been a long time building," Jim Burke, CEO of Vistra, told CNBC's "Closing Bell" Tuesday. Vistra also owns nuclear power plants, one of the most in-demand power sources in the 2024 market because reactors burn no fossil fuel and emit no greenhouse gases . Guggenheim has a buy rating on Vistra stock with a price target of $133, implying 44% upside from Wednesday's close of $92.31.

Persons: Jim Burke, CNBC's, we've, Burke, Vistra, Shahriar Pourreza, Pourreza, they'll, Guggenheim, Vistra hasn't, Mark Nelson, Joseph Dominguez, Constellation's, aren't Organizations: Vistra Corp, Texas Utilities Co, Dynegy Inc, Computer, Nvidia, Nuclear, Guggenheim Securities, Energy, Guggenheim, CNBC, Amazon Web Services, Talen Energy, Constellation Energy, Wall Street, Radiant Energy, Constellation Locations: Texas, Irving , Texas, Dallas, Ohio, Pennsylvania, Energy Harbor, U.S, East Coast

☆ The Nasdaq looks ugly, giving many stocks in the broader market their time in the sun
▼ + stars: | 2024-07-11 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

However, most stocks were up with about 6 to 1 advancers to decliners on the New York Stock Exchange. The reverse happened Thursday as those stocks became a source of funds to buy the rest of the market, especially the housing stocks, solar stocks, real estate stocks, utilities, cyclical, and small caps. 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. Traders work on the floor of the New York Stock Exchange (NYSE) on July 11, 2024 in New York City.

Persons: Jim Cramer, Russell, Banks, Wells, Morgan Stanley, Jim Cramer's, Jim, Spencer Platt Organizations: CNBC, Nasdaq, New York Stock Exchange, Meta, Palo Alto Networks, Big Tech, FedWatch, CPI, PPI, JPMorgan, Citigroup, Jim Cramer's Charitable, Traders, Getty Locations: decliners, Wells Fargo, New York City

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