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Santoli’s Wednesday market notes: Could September’s stock shakeout tee up strength for the fourth quarter?

https://www.cnbc.com/2021/09/29/santolis-wednesday-market-notes-could-septembers-stock-shakeout-tee-up-strength-for-the-fourth-quarter.html

2021-09-29T17:09:39+0000

Michael Santoli

CNBC

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.

cnbc, Premium, Articles, Investment strategy, Markets, Investing, PRO Home, CNBC Pro, Pro: Santoli on Stocks, source:tagname:CNBC US Source

<div class="group"><p><em>This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.</em></p><ul><li>A muted, inconclusive bounce that has left the indexes fully within yesterday's low-to-high range all morning so far.</li></ul></div>

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics.A muted, inconclusive bounce that has left the indexes fully within yesterday's low-to-high range all morning so far.

2021-10-30 14:11:23.709372

My take on the early Brexit winners and losers

https://www.cnbc.com/2016/06/24/ian-bremmers-take-on-the-early-brexit-winners-and-losers-commentary.html

2016-06-24T13:50:48-0400

CNBC

This commentary originally ran on Facebook. Boris Johnson – The former London mayor and grudging "Leave" supporter-turned enthusiastic "Leave" leader chose the winning side. He's now a front-runner to lead the Tory party. ‪#‎HellFreezesOver‬ Theresa May – Boris Johnson's populist approach to the Brexit campaign ticked off quite a few Tory elders, so the real money should be on UK Home Secretary Theresa May to succeed outgoing Prime Minister David Cameron. May is a political heavyweight and is generally respected among the Tories, something Boris Johnson is … um, not. Nigel Farage – the once-embattled UK Independence Party leader gets his moment in the sun. Also gets to keep having a political career. And the fact that he quoted "Independence Day" in his victory speech made a crazy night that much crazier. Marine Le Pen/Geert Wilders – Charismatic figures with a long history agitating for EU exits, France's Marine Le Pen and the Netherlands' Geert Wilders wasted no time calling for their own referendums. Brexit legitimizes their years of saber-rattling, and moves them from the political fringes into the mainstream, where they can do serious damage to the European project. Vladimir Putin – Russia's strongman needed this. Low oil prices have leveled the Russian economy, and the International Olympic Committee has banned Russian track athletes from competing at ‪#‎Rio2016‬. But now he gets to say "at least we're not Europe." Nicola Sturgeon – The head of the Scottish National Party delivered on her end from Scotland, where 62 percent of Scots voted to "Remain," though turnout wasn't as high as hoped. She now has political leverage by threatening to hold another Scottish referendum. And if Scotland leaves, the British drought at Wimbledon gets retroactively reinstated. German/US relations – Going to get stronger. By default. David Cameron – The man called the referendum to keep Euroskeptic Tories from defecting to the UK Independence Party camp in last year's parliamentary election. That turns out to have bought him an extra year in 10 Downing Street. Hope it was worth it, David. ‪#‎KarmaIsABitch‬ British pollsters – whiffed on the Scottish referendum. Whiffed on last year's parliamentary elections. Whiffed on the Brexit referendum. We were better off flipping a coin. Alexis Tsipras – when the Greek Prime Minister held a referendum on whether the Greek people should sign a deal for more austerity, he just ignored the results. The fact that Cameron actually fell on his referendum sword makes Tsipras look silly. Oh, and Grexit is now a real possibility now that the precedent has been sent. Labour Party Leader Jeremy Corbyn – Pundits have pointed to Labour's particularly poor showing to get out the vote as a key reason why the "Remain" side failed to win. And Jeremy Corbyn just failed in his first real test as Labour leader. Labour has some soul-searching to do, though it feels like we say that after every election. German Chancellor Angela Merkel – Brexit is now yet another problem for Europe (read: Merkel) to deal with. As if she didn't have enough to worry over. The British pound sterling – As the pound fell to levels not seen since 1985, maybe the first time ever that the British wish they had adopted the euro. London's financial sector – Despite the UK's long-fraught relationship with the EU, it was clearly a net benefit for London's financial sector, which could lay claim as the financial center of Europe. Much harder to do that when you've announced to the world you no longer want to be part of "Europe." Look for Frankfurt to pick up the slack. Donald J. Trump – Would have made him a winner, except he arrived in Scotland and announced that the Scottish "took their country back." So many things factually incorrect in that one statement I don't even know where to begin. Still, Brexit shows that divisive politics has an audience, which could bode well for The Donald. Commentary by Ian Bremmer, the president and founder of Eurasia Group. He is also a professor at New York University and the author of "Superpower: Three Choices for America's Role in the World." Follow him on Twitter@ianbremmer. For more insight from CNBC contributors, follow @CNBCopinion on Twitter.

Articles, Politics, Europe News, European Central Bank, S&P 500 Index, U.S. Markets, Commentary, Brexit, US Economy, stocks, Wall Street, World Economy, Markets

2021-10-30 14:11:23.820139

Europe&#039;s recovery depends on Renzi&#039;s Italy

https://www.cnbc.com/2014/03/25/europes-recovery-depends-on-renzis-italycommentary.html

2014-03-25T13:29:45-0400

CNBC

In spring, ambitious reforms began in Italy. Under Matteo Renzi, the ailing economy will either begin a real recovery, or slide further. The outcome is vital to Italy, Europe and the global economy. Soon the name of Matteo Renzi, the new prime minister of Italy, will be known better internationally, after his meetings with German Chancellor Angela Merkel and President Obama. Along with French President François Hollande, the two know only too well what's at stake in Italy's recovery. If it succeeds, the recovery of the euro zone will slowly continue. If not, the implications will be global. The reform drive of il Rottamatore One year after being sworn in as Mayor of Florence in 2009, Matteo Renzi declared that a complete change was necessary in his Democratic Party and Italian politics. So he was nicknamed il Rottamatore ("The Scrapper"). Last February, the 39-year-old Renzi became the youngest person in history to be Italy's Prime Minister — even younger than Mussolini. (Read more: France to ply China with wine) But can the Great Scrapper reverse Italy's economic decline? First, the good news: In the end of 2013, only two months before Renzi arrived in Rome, the longest recession in Italy's postwar history ended. The bad news is that, after nine consecutive quarters of negative growth, the economy is almost 10 percent smaller than before the crisis. Meanwhile, business continues to complain about the tax burden, and the unemployment rate has doubled to over 12 percent since 2007. Despite pledges of austerity in Brussels and Rome, Italy's fiscal deficit is 3 percent of the GDP and its sovereign debt has climbed to more than 132 percent of the gross domestic product (GDP). Among the EU members, only Greece has more. The only bright spot is the current account surplus, which is almost 1 percent of the GDP. The positive turn stems from a higher contribution from net exports, coupled with a decline in imports. Nonetheless, it will be hard for Italian exporters to sustain their performance in the near future. The economy suffers from a de facto process of de-industrialization. Industrial production has not increased ever since August 2011 and is now down 25 percent from its peak. Credit contraction weighs heavily on business confidence and consumer sentiment. Ambitious programs — on a monthly basis Today, Renzi's Democratic Party, Partito Democratico (PD), has its strongest constituencies in Northern-Central Italy and the big cities. PD runs 12 Italian regions out of a total of 20. It is social-democratic, progressive by outlook, reformist by inclination. Renzi himself is perceived as a liberal modernizer. When he became prime minister, it was a sign of much-needed generational change in the aging Italy, in which potential growth amounts to barely 0.8 to 1 percent in the coming years. (Read more: Russia's next step: Capitol controls?) Italy needs huge structural and institutional reforms. Renzi hopes to reverse the country's longstanding decline by launching one large project every month, starting with a new electoral law to consolidate political decision-making, reforms in the public administration, and the tax system. Even before Italy's European Council presidency will begin on July 1, 2014, Renzi hopes to achieve on a monthly basis what Rome's political class has failed to achieve in decades. After Berlusconi's rule, he sees Italy's political landscape as devastated. Even before his premiership, he suggested that Italy's parliamentarians should vote for their own removal. To become prime minister, Renzi politically maneuvered his predecessor Enrico Letta to resign. Nonetheless, Renzi's program will initiate the long-needed transformation of Italy. If this program will fall apart, the failure could push the economy deeper into the abyss. Slow recovery — or devastating depression In the past, the euro zone avoided a major crisis as long as friction points were restricted to small economies (e.g., Greece, Portugal, Ireland), which each accounted for less than 3 percent of the euro zone GDP. Everything changed in fall 2011 when the contagion effect reached Spain and Italy, which together account for almost 30 percent of the regional GDP. If, under these circumstances, Greece would have defaulted, it could have caused a contagion effect, particularly in Italy. That is why Greece has now received two bailouts (73 billion euros and 164 billion euros), is in talks about a third one (up to 20 billion euros) and more generous repayment terms. As long as Greece remains solvent, Italy and Spain will have time to restore sustained growth. (Read more: ECB's Weidmann says QE not out of the question) The Italian economy remains vulnerable, however. Standard & Poor's still has a negative outlook on the country's "BBB" rating. Even by 2016, Italian economic output is likely to remain nearly 7 percent below 2007 levels. It is suffering from a "lost decade." The stakes are massive. Italy continues to account for 5 percent of gross commercial long-term debt globally, although its population is less than 1 percent of the world total. While Brussels has demanded tough austerity programs, an exclusive focus on the latter would only make things worse in Italy. Instead, Renzi's government is likely to reduce its huge debt only slowly, but focus on a lower deficit. A failure to achieve progress would polarize Italy, destabilize Southern Europe and reduce global growth prospects. How Italy goes, so will the world go. — By Dan Steinbock Dan Steinbock is research director of International Business at India China and America Institute (USA), visiting fellow at Shanghai Institutes for International Studies (China) and in the EU-Center (Singapore). See also www.differencegroup.net.

Articles, Business News, Economy, Europe Economy, Employment, Commentary, Politics, source:tagname:CNBC US Source

2021-10-30 14:11:23.854710

US Moves Closer to Becoming A Major Shareholder In GM

https://www.cnbc.com/2009/04/22/us-moves-closer-to-becoming-a-major-shareholder-in-gm.html

2009-04-22T19:49:03+0000

Michelle Caruso-Cabrera

CNBC

The US government is increasingly likely to convert a $13.4 billion loan to General Motors into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.

cnbc, Articles, General Motors Co, Business News, Transportation, Autos, source:tagname:CNBC US Source

<div class="group"><p>The US government is increasingly likely to convert a $13.4 billion loan to <strong>General Motors</strong> into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.</p></div>,<div class="group"><p>The move, which is still under discussion, is partly aimed at getting GM's bondholders and the United Auto Workers union to make more concessions and avert a possible bankruptcy filing, these sources said. The government is pressuring the UAW to make concessions on GM retiree health benefits. </p><div style="height:100%" class="lazyload-placeholder"></div><p>People involved in the talks caution that nothing has been decided yet. Officials from President Obama's auto task force and the UAW had no comment.</p><p>The US agreed to loan GM up to $13.4 billion in December provided the auto maker convinced bondholders and the UAW to accept much of what the company owes them in stock rather than cash. </p><ul><li><a href="https://www.cnbc.com/2009/04/09/New-York-Auto-Show-2009.html">Slideshow: What's new at New York Auto Show</a></li></ul><p>So far, both groups have balked. Both the union and bondholders are worried that if they accept stock, and the company goes bankrupt anyway, they will be left with nothing. </p><p>However, if the government converts its loan to equity, it signals to both groups that the White House will not let the company fail, and that the stock will eventually be worth something.</p><p>GM owes the UAW $20 billion for its retiree health care benefits, and it owes bondholders $27.5 billion. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Crucial to all of this: a new business plan for GM that reflects the current economic environment. That means fewer plants, fewer models, lower pay for union employees and a balance with far less, if any, debt. If that cannot be achieved, President Obama has said that forcing the company into bankruptcy is a strong possibility. </p><p>Previously, GM offered the bondholders 8 cents in cash, 16 and half cents in new debt, and 90% of the company's equity. It offered the union $10 billion amortized over 20 years, and $10 billion in preferred stock with a 9% interest rate. However, the auto task force told GM those offers were too generous because of the unprecedented and precipitous decline in auto sales. </p><p>Those previous offers were based on the assumption that auto sales would return to an annual pace of around 11 million cars. Thus far however, they have hovered around 9 million cars per year. </p><p>As CNBC reported more than a week ago, GM is planning to offer the bondholders no cash, no new debt, and only as much as 20% of the stock of GM, perhaps even as little as 10%. Again, negotiations are ongoing and nothing has been finalized. Terms of a possible offer could change on a daily or even hourly basis.</p><p>Reuters reports they are considering offering the unions only stock as well. If true, that would sit very poorly with the union, as it needs cash to pay for retiree health care benefits. Doctor visits and MRIs can't be paid for with stock. </p><p>However, the union retiree benefit plan does have some cash. GM had already paid them $10 billion out of $30 billion owed to them, late last year. Some argue that would justify paying the rest that is owed to them in stock, which down the road they could sell, and use to pay retiree health care benefits. </p></div>

The US government is increasingly likely to convert a $13.4 billion loan to General Motors into common stock, sharply reducing the company's debt burden and giving taxpayers a major stake in the struggling auto maker, sources tell CNBC.The move, which is still under discussion, is partly aimed at getting GM's bondholders and the United Auto Workers union to make more concessions and avert a possible bankruptcy filing, these sources said. The government is pressuring the UAW to make concessions on GM retiree health benefits. People involved in the talks caution that nothing has been decided yet. Officials from President Obama's auto task force and the UAW had no comment.The US agreed to loan GM up to $13.4 billion in December provided the auto maker convinced bondholders and the UAW to accept much of what the company owes them in stock rather than cash. Slideshow: What's new at New York Auto ShowSo far, both groups have balked. Both the union and bondholders are worried that if they accept stock, and the company goes bankrupt anyway, they will be left with nothing. However, if the government converts its loan to equity, it signals to both groups that the White House will not let the company fail, and that the stock will eventually be worth something.GM owes the UAW $20 billion for its retiree health care benefits, and it owes bondholders $27.5 billion. Crucial to all of this: a new business plan for GM that reflects the current economic environment. That means fewer plants, fewer models, lower pay for union employees and a balance with far less, if any, debt. If that cannot be achieved, President Obama has said that forcing the company into bankruptcy is a strong possibility. Previously, GM offered the bondholders 8 cents in cash, 16 and half cents in new debt, and 90% of the company's equity. It offered the union $10 billion amortized over 20 years, and $10 billion in preferred stock with a 9% interest rate. However, the auto task force told GM those offers were too generous because of the unprecedented and precipitous decline in auto sales. Those previous offers were based on the assumption that auto sales would return to an annual pace of around 11 million cars. Thus far however, they have hovered around 9 million cars per year. As CNBC reported more than a week ago, GM is planning to offer the bondholders no cash, no new debt, and only as much as 20% of the stock of GM, perhaps even as little as 10%. Again, negotiations are ongoing and nothing has been finalized. Terms of a possible offer could change on a daily or even hourly basis.Reuters reports they are considering offering the unions only stock as well. If true, that would sit very poorly with the union, as it needs cash to pay for retiree health care benefits. Doctor visits and MRIs can't be paid for with stock. However, the union retiree benefit plan does have some cash. GM had already paid them $10 billion out of $30 billion owed to them, late last year. Some argue that would justify paying the rest that is owed to them in stock, which down the road they could sell, and use to pay retiree health care benefits.

2021-10-30 14:11:24.261143

Trump: 'Mission accomplished' on 'perfectly executed' Syria strike

https://www.cnbc.com/2018/04/14/trump-mission-accomplished-on-perfectly-executed-syria-strike.html

2018-04-14T14:59:04+0000

Javier E. David

CNBC

cnbc, Articles, George W. Bush, Vladimir Putin, Donald Trump, Chemical weapons, Syria, Politics, Europe News, World News, US: News, source:tagname:CNBC US Source

<div class="group"></div>,<div class="group"><p>President Donald Trump hailed the U.S.-led intervention in Syria as "perfectly executed," adding that the military campaign to degrade <a href="https://www.cnbc.com/bashar-al-assad/">Bashar Assad's</a> chemical weapons capability had accomplished its goals.</p><p>Less than a day after U.S., British and French forces targeted suspected chemical weapons sites in retaliation to an attack that left dozens of civilians dead last week, Trump thanked the U.S. coalition partners.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Yet in an echo of former president <a href="https://www.cnbc.com/george-w-bush/">George W. Bush</a>, Trump used words that ultimately came back to haunt his predecessor, by pronouncing "Mission Accomplished." That characterization raised questions about whether Western forces would intervene again if Assad used chemical weapons again, or if the conflict escalated amid Russia's growing bellicosity.</p><p><a href="https://twitter.com/realDonaldTrump/status/985130802668294144?ref_src=twsrc%5Etfw&amp;amp;ref_url=https%3A%2F%2Ftwitter.com%2Frealdonaldtrump%2Fstatus%2F985130802668294144" target="_blank">"A perfectly executed strike last night. Thank you to France and the United Kingdom for their wisdom and the power of their fine Military. Could not have had a better result. Mission Accomplished!" Trump said in a Twitter post.</a></p><p>Defense Secretary James Mattis called the strikes a "one time shot" aimed at the Syrian government's chemical weapons infrastructure.</p><p>"Clearly, the Assad regime did not get the message last year," Mattis told reporters on Friday from the Pentagon.</p><p>"Together we have sent a clear message to Assad and his murderous lieutenants that they should not perpetrate another chemical weapons attack for which they will be held accountable."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Back in May 2003, Bush prematurely declared the Iraq war as being over, in the wake of U.S. forces successfully toppling the government of Saddam Hussein. The event, staged on a U.S. bomber under a massive banner that screamed "Mission Accomplished," overshadowed the years of conflict and bloodshed that followed.</p><p>In a briefing on Saturday, Pentagon officials also <a href="https://www.cnbc.com/2018/04/14/syrian-military-strikes-were-successful-pentagon-says.html">described the Syria bombing as having successfully accomplished its goals</a>. </p><p>Trump's declaration came as Moscow, which is backing Syria in its long civil conflict, has denounced the bombing campaign with undisguised contempt. In the wake of Friday's strike, Russia's ambassador to the U.S. warned of "consequences," while Russian President <a href="https://www.cnbc.com/vladimir-putin/">Vladimir Putin</a> reportedly <a href="https://www.thesun.co.uk/news/6050462/russia-syria-bombings-response-chemical-attack-vladimir-putin/" target="_blank">called the intervention an "act of aggression."</a><br></p><p><em>--CNBC's Amanda Macias contributed to this article.</em></p></div>

President Donald Trump hailed the U.S.-led intervention in Syria as "perfectly executed," adding that the military campaign to degrade Bashar Assad's chemical weapons capability had accomplished its goals.Less than a day after U.S., British and French forces targeted suspected chemical weapons sites in retaliation to an attack that left dozens of civilians dead last week, Trump thanked the U.S. coalition partners.Yet in an echo of former president George W. Bush, Trump used words that ultimately came back to haunt his predecessor, by pronouncing "Mission Accomplished." That characterization raised questions about whether Western forces would intervene again if Assad used chemical weapons again, or if the conflict escalated amid Russia's growing bellicosity."A perfectly executed strike last night. Thank you to France and the United Kingdom for their wisdom and the power of their fine Military. Could not have had a better result. Mission Accomplished!" Trump said in a Twitter post.Defense Secretary James Mattis called the strikes a "one time shot" aimed at the Syrian government's chemical weapons infrastructure."Clearly, the Assad regime did not get the message last year," Mattis told reporters on Friday from the Pentagon."Together we have sent a clear message to Assad and his murderous lieutenants that they should not perpetrate another chemical weapons attack for which they will be held accountable."Back in May 2003, Bush prematurely declared the Iraq war as being over, in the wake of U.S. forces successfully toppling the government of Saddam Hussein. The event, staged on a U.S. bomber under a massive banner that screamed "Mission Accomplished," overshadowed the years of conflict and bloodshed that followed.In a briefing on Saturday, Pentagon officials also described the Syria bombing as having successfully accomplished its goals. Trump's declaration came as Moscow, which is backing Syria in its long civil conflict, has denounced the bombing campaign with undisguised contempt. In the wake of Friday's strike, Russia's ambassador to the U.S. warned of "consequences," while Russian President Vladimir Putin reportedly called the intervention an "act of aggression."--CNBC's Amanda Macias contributed to this article.

2021-10-30 14:11:24.489490

Chevron CEO Watson says he supports Trump on tax reform

https://www.cnbc.com/2017/03/07/chevron-ceo-watson-says-he-supports-trump-on-tax-reform.html

2017-03-07T23:07:14+0000

Lauren Thomas

CNBC

Chevron Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President Donald Trump's administration. Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "Closing Bell." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained.

cnbc, Articles, White House, Oil and Gas, Chevron Corp, Donald Trump, Business, Exxon Mobil Corp, Business News, Closing Bell, source:tagname:CNBC US Source

<div class="group"><p><a href="//www.cnbc.com/quotes/CVX" target="_blank">Chevron</a> Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President <a href="https://www.cnbc.com/donald-trump/">Donald Trump</a>'s administration. </p><p>Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "<a href="https://www.cnbc.com/closing-bell/">Closing Bell</a>." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained. </p></div>,<div class="group"><p>A border-adjustment tax would likely result in the appreciation of the dollar, to ease the burden of hiked prices on consumers. Would this hurt a company such as Chevron? Not so fast, Watson said. </p><p>"I think what you'll see is a disconnect," he explained. U.S. oil prices might rise, but international prices would offset this. </p><p>And Chevron wouldn't try to move money offshore, either, CEO Watson told CNBC. "What we'll tend to do is take the cash flow that's generated ... and we'll recycle it into shorter cycle-time investments — the portfolio of assets we have in the U.S., in the Gulf of Mexico, in California and elsewhere." </p><p>Since former <a href="//www.cnbc.com/quotes/XOM" target="_blank">Exxon Mobil</a> Chief Executive <a href="https://www.cnbc.com/rex-tillerson/">Rex Tillerson</a> joined the Trump administration, Watson said he's visited with White House staff on multiple occasions and has been encouraged by those meetings.</p><p>"We've seen a more pro-business environment ... I think the approach they're taking toward business — toward enabling our economy to grow again — is a real positive."</p></div>,<div class="group"></div>,<div class="group"></div>

Chevron Chief Executive John Watson told CNBC Tuesday that he "strongly supports U.S. tax reform" under President Donald Trump's administration. Trump's administration wants to make U.S. tax reform competitive, Watson said during an interview on CNBC's "Closing Bell." Specifically he discussed a proposed bill — a border-adjustment tax — that could hike rates on American imports. Despite concerns that a border tax could hurt oil prices, Chevron's Watson said industry imports would "come into balance" over time. "The unpredictable effects of the U.S. dollar strengthening is what concerns a lot of people," he explained. A border-adjustment tax would likely result in the appreciation of the dollar, to ease the burden of hiked prices on consumers. Would this hurt a company such as Chevron? Not so fast, Watson said. "I think what you'll see is a disconnect," he explained. U.S. oil prices might rise, but international prices would offset this. And Chevron wouldn't try to move money offshore, either, CEO Watson told CNBC. "What we'll tend to do is take the cash flow that's generated ... and we'll recycle it into shorter cycle-time investments — the portfolio of assets we have in the U.S., in the Gulf of Mexico, in California and elsewhere." Since former Exxon Mobil Chief Executive Rex Tillerson joined the Trump administration, Watson said he's visited with White House staff on multiple occasions and has been encouraged by those meetings."We've seen a more pro-business environment ... I think the approach they're taking toward business — toward enabling our economy to grow again — is a real positive."

2021-10-30 14:11:24.736488

22. Hexadite

https://www.cnbc.com/2017/02/28/upstart-25-hexadite.html

2017-02-28T11:00:37-0500

CNBC

Founders: Eran Barak, Barak Klinghofer (chief product officer), Idan Levin (CTO) Launched: 2014 Headquarters: Boston Funding: $10.5 million The three founders of Hexadite, a Boston-based cybersecurity firm, have backgrounds in investigating and mitigating attacks for military intelligence units and global defense companies. They knew that these same kinds of automated cyberattacks were plaguing a wide variety of companies, leaving them unprepared when responding to a breach or, worse, preventing a future attack.Hexadite uses artificial intelligence to investigate and remediate every alert a company receives, claiming it can resolve incidents in seconds, freeing up a company's response team to focus on threats that truly need their expertise. Hexadite's Automated Incident Response Solution platform can integrate with customers' existing security technologies and can cut response time by 95 percent, the company says.Co-founder and CEO Eran Barak spent five years in an elite intelligence unit of the Israel Defense Forces before starting Hexadite in 2014 and was also head of Elbit Systems' cybertraining and simulation team. Late last year the company formed an alliance with other cybersecurity companies across the country, including Carbon Black, Check Point Software Technologies and Hewlett Packard Enterprise, to better integrate their products and automate important security processes.The goal of the alliance, explains Barak, is to utilize software to lighten the workload of security teams so that they can focus their time on the most dangerous and complex threats. The company has raised $10.5 million in funding from investors, including Hewlett Packard Ventures and TenEleven Ventures.

Articles, Technology, CNBC Upstart 2018, Boston, Special Reports, Crime, Hardware, Start-ups, Cybersecurity, CNBC Upstart, source:tagname:CNBC US Source

2021-10-30 14:11:24.797620

European stocks close higher on supportive Fed; Signature Aviation skyrockets 40%

https://www.cnbc.com/2020/12/17/european-stock-futures-us-fed-to-support-economy-.html

2020-12-17T06:08:38+0000

Elliot Smith,Holly Ellyatt

CNBC

LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.

cnbc, Articles, World economy, World Markets, FTSE MIB, CAC 40 Index, DAX, FTSE 100, Jerome Powell, United States, STOXX 600, United Utilities Group PLC, Zalando SE, thyssenkrupp AG, ams AG, Signature Aviation Ltd, Blackstone Inc, World Economy, Europe Economy, Markets, Europe Markets, source:tagname:CNBC Europe Source

<div class="group"><p>LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.</p></div>,<div class="group"><p>The pan-European <a href="https://www.cnbc.com/quotes/.STOXX">Stoxx 600</a> provisionally closed up by around 0.4%, with retail shares adding 2.1% to lead gains as most sectors and major bourses advanced.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The positive trend comes after the Fed said it will buy at least $120 billion of bonds each month <a href="https://www.cnbc.com/2020/12/16/fed-decision-december-2020-fed-commits-to-keep-buying-bonds-until-the-economy-gets-back-to-full-employment.html">"until substantial further progress has been made toward the Committee's maximum employment and price stability goals."</a></p><p>Fed Chairman Jerome Powell also said on Wednesday that stock prices are not necessarily highly priced given how low interest rates are.</p><p>On Wall Street, the S&amp;P 500 and Nasdaq Composite opened at record highs on Thursday, boosted by hopes of Washington coming through on additional financial aid before the end of 2020.</p></div>,<div class="group"><p>Congressional leaders on Wednesday closed in on a <a href="https://www.cnbc.com/2020/12/16/coronavirus-stimulus-update-congress-may-offer-900-billion-relief-plan.html">$900 stimulus package</a> that would include direct payments to individuals.</p><p>In Europe Thursday, the <a href="https://www.cnbc.com/2020/12/17/bank-of-england-holds-rates-as-coronavirus-outlook-remains-uncertain.html">Bank of England kept its main lending rate at 0.1%</a>, having earlier cut twice from 0.75% since the onset of the pandemic in March, and retained its target stock of asset purchases at £895 billion ($1.2 trillion).</p><div style="height:100%" class="lazyload-placeholder"></div><p>In terms of individual share price action, British aviation firm <a href="//www.cnbc.com/quotes/BBAVY" target="_blank">Signature Aviation</a> skyrocketed 40% to lead the Stoxx 600 after confirming it was in talks with <a href="//www.cnbc.com/quotes/BX" target="_blank">Blackstone</a> for a possible cash takeover offer of $5.17 a share.</p><p>At the other end of the index, Austrian chipmaker <a href="//www.cnbc.com/quotes/AMS-AT" target="_blank">AMS</a> slid nearly 5%.</p><p><em>Subscribe to </em><a href="https://www.cnbc.com/pro/"><em>CNBC PRO</em></a><em> for exclusive insights and analysis, and live business day programming from around the world.</em></p><p><em>— CNBC.com staff contributed to this market report.</em></p></div>

LONDON — European stocks closed higher on Thursday as traders reacted positively to comments from the U.S. Federal Reserve that it will continue to support the economy.The pan-European Stoxx 600 provisionally closed up by around 0.4%, with retail shares adding 2.1% to lead gains as most sectors and major bourses advanced.The positive trend comes after the Fed said it will buy at least $120 billion of bonds each month "until substantial further progress has been made toward the Committee's maximum employment and price stability goals."Fed Chairman Jerome Powell also said on Wednesday that stock prices are not necessarily highly priced given how low interest rates are.On Wall Street, the S&P 500 and Nasdaq Composite opened at record highs on Thursday, boosted by hopes of Washington coming through on additional financial aid before the end of 2020.Congressional leaders on Wednesday closed in on a $900 stimulus package that would include direct payments to individuals.In Europe Thursday, the Bank of England kept its main lending rate at 0.1%, having earlier cut twice from 0.75% since the onset of the pandemic in March, and retained its target stock of asset purchases at £895 billion ($1.2 trillion).In terms of individual share price action, British aviation firm Signature Aviation skyrocketed 40% to lead the Stoxx 600 after confirming it was in talks with Blackstone for a possible cash takeover offer of $5.17 a share.At the other end of the index, Austrian chipmaker AMS slid nearly 5%.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.— CNBC.com staff contributed to this market report.

2021-10-30 14:11:24.834045

Fewer investors have a 'fear of missing out,' so it may be time to buckle up, market bull suggests

https://www.cnbc.com/2019/07/26/fear-of-missing-out-sentiment-is-fading-market-bull-says.html

2019-07-28T21:00:47+0000

Stephanie Landsman

CNBC

Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks."Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "Futures Now" last Thursday.With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive."We're highly selective at this point with the S&P 500 up over 20%," he said.The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility."It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher."It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as consumer discretionary, industrials, financials and technology on weakness."Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.

cnbc, Articles, S&P 500 Fut (Dec'21), Technology Select Sector SPDR Fund, S&P 500 Industrials Sector, Consumer Discretionary Select Sector SPDR Fund, Wall Street, Markets, Investment strategy, Commodity markets, Futures & Commodities, Futures Now, Futures, Finance, Investing, CNBC TV, source:tagname:CNBC US Source

<div class="group"><p>Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.</p><p>The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks.</p><div style="height:100%" class="lazyload-placeholder"></div><p>"Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "<a href="https://www.cnbc.com/futures-now/">Futures Now</a>" last Thursday.</p><p>With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive.</p><p>"We're highly selective at this point with the <a href="https://www.cnbc.com/quotes/@SP.1">S&amp;P 500</a> up over 20%," he said.</p><p>The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility.</p><p>"It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."</p><div style="height:100%" class="lazyload-placeholder"></div><p>Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher.</p><p>"It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.</p><p>For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as <a href="https://www.cnbc.com/quotes/0L4P-GB">consumer discretionary</a>, <a href="https://www.cnbc.com/quotes/.SPLRCI">industrials</a>, <a href="https://www.cnbc.com/quotes/?symbol=.5SP40">financials</a> and <a href="https://www.cnbc.com/quotes/XLK">technology</a> on weakness.</p><p>"Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.</p></div>,<div class="group"></div>

Oppenheimer Asset Management's John Stoltzfus suggests investors may want to fasten their seat belts.The long-time bull expects a wave of near-term volatility to pressure stocks. He's blaming uncertainty surrounding this week's Federal Reserve decision on interest rates, another big batch of second quarter earnings results and a fresh round of U.S.-China trade talks."Any kind of disappointment in a sense, okay, I can kind of take profits today without FOMO [fear of missing out] gripping my soul," the firm's chief investment strategist told CNBC's "Futures Now" last Thursday.With the fear of missing out gripping fewer investors, Stoltzfus contends it's not the time to get aggressive."We're highly selective at this point with the S&P 500 up over 20%," he said.The index, which closed the week at new record highs, has already surpassed Stoltzfus' year-end target of 2,860 by almost 6%. He's planning to tweak the number once there's more visibility."It's under revision at this time. We're going to wait until after the Fed makes its decision on the 31st," he said "At that point, we'll put in our new target for the year-end, depending on how that goes."Stoltzfus notes a more favorable development in the U.S.-China trade war would be an integral part of his bull case. He believes it's the biggest headwind holding back stocks from ripping even higher."It would be confirmation that indeed the markets thought things weren't so bad, were actually pretty good," he said.For now, Stoltzfus is bracing for a 3 to 4% pullback to strike stocks near term. He'd look to add cyclical names such as consumer discretionary, industrials, financials and technology on weakness."Tech looks like a great place to be because technology flows into all of the eleven sectors. Every business needs technology," Stoltzfus said.

2021-10-30 14:11:25.039804

Morgan Stanley Tries to Stave Off Ratings Cut

https://www.cnbc.com/2012/04/05/morgan-stanley-tries-to-stave-off-ratings-cut.html

2012-04-05T06:53:57+0000

CNBC

James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.

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<div class="group"><p>James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.</p></div>,<div class="group"><p>Morgan Stanley owns 51 percent of Smith Barney, and holds an option, which kicks in at the end of May, to increase its stake to 65 percent. Taking full control of the brokerage is a centrepiece of Mr Gorman’s strategy. Morgan Stanley declined to comment.</p><div style="height:100%" class="lazyload-placeholder"></div><p>People familiar with the bank’s thinking have said Morgan Stanley could consider buying all of Smith Barney outright, but its ultimate decision will depend on price. Analysts have valued Citi’s remaining Smith Barney stake at around $10 billion.</p><p>Morgan Stanley would most likely have to issue debt to fund the purchase, people say. That would become more expensive if Morgan Stanley is downgraded. Moody’s put Morgan Stanley, along with five other banks, on review for a downgrade in February. The bank could see its rating reduced by as many as three notches to Baa2 - two levels above junk status.</p><p>A downgrade would also force Morgan Stanley to provide additional collateral to back its vast derivatives business, where it acts as a counterparty. </p><p>Mr Gorman has been meeting Moody’s executives since earlier this year. The chief executive, who took over from John Mack at the beginning of 2010, is also thought to be discussing possible steps the bank could take to cushion the impact of a downgrade. These include shifting the banks’ derivatives books to a higher-rated subsidiary, which would help save it collateral costs. Other banks including Citigroup and Bank of America have done this.</p><p>Other major banks, such as <strong>JPMorgan</strong> and Goldman Sachs , are also on review for downgrade at Moody’s. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Morgan Stanley agreed to fold its retail brokerage business into a joint venture with Smith Barney in 2009. The venture is a key component of the bank’s push to become less dependent on volatile trading operations.</p><p>“[A downgrade] will make it more expensive [to issue debt] on the margin, but the overall cost of funding is not very expensive,” said one banker, who specializes in selling financials’ debt. Markets may be pricing in a higher cost of funding, he added.</p></div>

James Gorman, Morgan Stanley’s chief executive, has been in discussions with Moody’s in an attempt to maintain its credit ratings and stave off a downgrade that could diminish the bank’s ability to buy the rest of Citigroup brokerage Smith Barney, according to people familiar with the matter.Morgan Stanley owns 51 percent of Smith Barney, and holds an option, which kicks in at the end of May, to increase its stake to 65 percent. Taking full control of the brokerage is a centrepiece of Mr Gorman’s strategy. Morgan Stanley declined to comment.People familiar with the bank’s thinking have said Morgan Stanley could consider buying all of Smith Barney outright, but its ultimate decision will depend on price. Analysts have valued Citi’s remaining Smith Barney stake at around $10 billion.Morgan Stanley would most likely have to issue debt to fund the purchase, people say. That would become more expensive if Morgan Stanley is downgraded. Moody’s put Morgan Stanley, along with five other banks, on review for a downgrade in February. The bank could see its rating reduced by as many as three notches to Baa2 - two levels above junk status.A downgrade would also force Morgan Stanley to provide additional collateral to back its vast derivatives business, where it acts as a counterparty. Mr Gorman has been meeting Moody’s executives since earlier this year. The chief executive, who took over from John Mack at the beginning of 2010, is also thought to be discussing possible steps the bank could take to cushion the impact of a downgrade. These include shifting the banks’ derivatives books to a higher-rated subsidiary, which would help save it collateral costs. Other banks including Citigroup and Bank of America have done this.Other major banks, such as JPMorgan and Goldman Sachs , are also on review for downgrade at Moody’s. Morgan Stanley agreed to fold its retail brokerage business into a joint venture with Smith Barney in 2009. The venture is a key component of the bank’s push to become less dependent on volatile trading operations.“[A downgrade] will make it more expensive [to issue debt] on the margin, but the overall cost of funding is not very expensive,” said one banker, who specializes in selling financials’ debt. Markets may be pricing in a higher cost of funding, he added.

2021-10-30 14:11:25.106016

Consultant to 'Vampire Squid of Expert Network Firms' Questioned by FBI

https://www.cnbc.com/2010/11/30/consultant-to-vampire-squid-of-expert-network-firms-questioned-by-fbi.html

2010-11-30T15:42:50+0000

Ash Bennington

CNBC

We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.

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<div class="group"><p>We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.</p></div>,<div class="group"><p>The purpose of the expert network firms is to provide information and insight about companies that investors are interested in—and also, perhaps more crucially, to help manage the relationships between the investors and the managers of companies they seek to invest in. Think about the nature of that scenario: Investors and managers chatting together informally, outside the scope of more traditional venues like earnings calls and IR events. It seems a safe bet that, amid allegations of widespread insider trading, the government might be interested in exploring that channel to see if material nonpublic information might have changed hands. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Today, the news is that <strong>Gerson Lehrman Group</strong>, the largest of the expert network firms, had at least <a href="http://online.wsj.com/article/SB10001424052748703945904575645202769315746.html?mod=wsj_share_twitter" target="_blank">one of its consultants questioned by the FBI</a>. For those not familiar with the hedge fund/expert network axis, the significance of this may not be immediately obvious. </p></div>,<div class="group"><p>While Gerson Lehrman Group may sound to the uninitiated a bit like a dish prepared by the Swedish Chef on the Muppets, this firm is a very serious player in the expert network space. The Wall Street Journal reports that "Gerson controls two-thirds of the market for expert networks" </p><p>To put that number in perspective, think about this: <a href="http://dealbook.nytimes.com/2010/04/06/jpmorgan-keeps-lead-in-i-banking-league-tables/" target="_blank">JPMorgan is the current leader </a>in capital markets transaction—and they control only 7.8 percent market share. </p><p>So, in the space they play in, Gerson is a vampire squid on steroids. </p><p>The Wall Street Journal article alludes to the significance: "The FBI questioning of the Gerson consultant shows the government's examination of the expert-network business is broader than Primary Global. Criminal and civil authorities are investigating whether these consultants passed inside information to clients, who pay the expert companies large fees for their services." </p><div style="height:100%" class="lazyload-placeholder"></div><p>It seems that it's not just Gerson in the crosshairs—but more broadly the clients they serviced. </p><p>And which firms are Gerson clients? </p><p>According to the Journal: "In recent years, Gerson's client roster has included prominent hedge funds like SAC Capital Advisors LLC, mutual-fund company Fidelity Investments, private-equity firm Carlyle Group LLC and Wall Street investment banks, said people familiar with the matter." </p><p>The phrase "has included" tells you that we're not looking at an exhaustive inventory in the list that follows—but only a sampling. </p><p>And the message from that sample seems to be that Gerson clients are many of the big boys. </p><p>Interestingly, no "Wall Street investment banks" are cited by name – but if the sampling of hedge funds and private equity groups provided is representative of the caliber of firms Gerson did business with on the banking side, you might expect to see some of your favorite A-list players from the top of the banking league tables represented on their client list. </p><p>The Journal article reports that <a href="https://www.cnbc.com/2010/11/22/hedge-fund-raid.html">Diamondback Capital</a> —which has already been raided by the FBI in the probe—is a client of Gerson. </p><p>It is important to note that no allegations of wrongdoing have been made against Gerson or any of its employees related to the current probe. </p><p>Nonetheless, one's curiosity might naturally be piqued by the client list and the nature of the relationships involved—enough to keep following this story. Closely.</p><p>_____________________________________________________</p><p><strong><em>Questions? Comments? Email us at</em></strong></p><p><strong><em>Follow NetNet on Twitter @ twitter.com/CNBCnetnet</em></strong></p><p><strong><em>Facebook us @ </em></strong></p></div>

We know that one of the principal focuses of the government in their investigation into insider trading in general—and into hedge funds in particular—are the so-called "expert-network" firms.The purpose of the expert network firms is to provide information and insight about companies that investors are interested in—and also, perhaps more crucially, to help manage the relationships between the investors and the managers of companies they seek to invest in. Think about the nature of that scenario: Investors and managers chatting together informally, outside the scope of more traditional venues like earnings calls and IR events. It seems a safe bet that, amid allegations of widespread insider trading, the government might be interested in exploring that channel to see if material nonpublic information might have changed hands. Today, the news is that Gerson Lehrman Group, the largest of the expert network firms, had at least one of its consultants questioned by the FBI. For those not familiar with the hedge fund/expert network axis, the significance of this may not be immediately obvious. While Gerson Lehrman Group may sound to the uninitiated a bit like a dish prepared by the Swedish Chef on the Muppets, this firm is a very serious player in the expert network space. The Wall Street Journal reports that "Gerson controls two-thirds of the market for expert networks" To put that number in perspective, think about this: JPMorgan is the current leader in capital markets transaction—and they control only 7.8 percent market share. So, in the space they play in, Gerson is a vampire squid on steroids. The Wall Street Journal article alludes to the significance: "The FBI questioning of the Gerson consultant shows the government's examination of the expert-network business is broader than Primary Global. Criminal and civil authorities are investigating whether these consultants passed inside information to clients, who pay the expert companies large fees for their services." It seems that it's not just Gerson in the crosshairs—but more broadly the clients they serviced. And which firms are Gerson clients? According to the Journal: "In recent years, Gerson's client roster has included prominent hedge funds like SAC Capital Advisors LLC, mutual-fund company Fidelity Investments, private-equity firm Carlyle Group LLC and Wall Street investment banks, said people familiar with the matter." The phrase "has included" tells you that we're not looking at an exhaustive inventory in the list that follows—but only a sampling. And the message from that sample seems to be that Gerson clients are many of the big boys. Interestingly, no "Wall Street investment banks" are cited by name – but if the sampling of hedge funds and private equity groups provided is representative of the caliber of firms Gerson did business with on the banking side, you might expect to see some of your favorite A-list players from the top of the banking league tables represented on their client list. The Journal article reports that Diamondback Capital —which has already been raided by the FBI in the probe—is a client of Gerson. It is important to note that no allegations of wrongdoing have been made against Gerson or any of its employees related to the current probe. Nonetheless, one's curiosity might naturally be piqued by the client list and the nature of the relationships involved—enough to keep following this story. Closely._____________________________________________________Questions? Comments? Email us atFollow NetNet on Twitter @ twitter.com/CNBCnetnetFacebook us @

2021-10-30 14:11:25.194014

Average tax refunds are down 8.4% in the wake of Trump tax cuts

https://www.cnbc.com/2019/02/11/average-tax-refunds-are-down-8point4percent-in-wake-of-trump-tax-cuts.html

2019-02-11T10:04:30+0000

CNBC

The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.

cnbc, Articles, Tax planning, Politics, Personal finance, Government taxation and revenue, Personal Finance, US: News, Taxes, Investing, Tax Planning, source:tagname:Reuters

<div class="group"><p>The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.</p><p>According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>The partial government shutdown - at 35 days, the longest in U.S. history - ended three days before the tax filing season officially opened on Jan. 28. The final deadline is Apr. 15.</p><p>Republicans passed a $1.5 trillion tax overhaul in the final weeks of 2017 that cut rates for both individuals and corporations, giving fellow Republican Trump a major policy victory. Democrats had warned that the cuts and other changes in the overhaul would primarily benefit the country's wealthiest, and many are eager to see how it will affect average Americans.</p><p>Treasury Secretary Steven Mnuchin said in a statement on Friday that the 2019 "filing season has successfully launched with millions of tax returns having been filed."</p></div>

The first U.S. tax filing season under the overhaul that President Donald Trump signed into law at the end of 2017 got off to a slow start in the first week, with data released on Friday showing a significant drop in returns and refunds.According to the Internal Revenue Service, the total number of returns received in the week ending Feb. 1, 16.04 million, was down 12.4 percent from the week that ended on Feb. 2, 2018. Only 13.31 million returns were processed, down 25.8 percent from the year before. The average refund of $1,865 was 8.4 percent smaller than the average refund in the period last year.The partial government shutdown - at 35 days, the longest in U.S. history - ended three days before the tax filing season officially opened on Jan. 28. The final deadline is Apr. 15.Republicans passed a $1.5 trillion tax overhaul in the final weeks of 2017 that cut rates for both individuals and corporations, giving fellow Republican Trump a major policy victory. Democrats had warned that the cuts and other changes in the overhaul would primarily benefit the country's wealthiest, and many are eager to see how it will affect average Americans.Treasury Secretary Steven Mnuchin said in a statement on Friday that the 2019 "filing season has successfully launched with millions of tax returns having been filed."

2021-10-30 14:11:25.234847

Watch: Oaktree Capital's Howard Marks speak from the Context Summit

https://www.cnbc.com/2019/01/30/watch-oaktree-capitals-howard-marks-speak-from-the-context-summit.html

2019-01-30T20:32:22+0000

Thomas Franck

CNBC

[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.Oaktree Capital had $124 billion of assets under management as of September 2018, according to its website.Subscribe to CNBC on YouTube.

cnbc, Articles, Oaktree Capital Group LLC, Investment strategy, Markets, Investing, Investment Strategy, Investment Strategies, US: News, source:tagname:CNBC US Source

<div class="group"><p>[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]</p><p>Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.</p><p>Oaktree Capital had $124 billion of assets under management as of September 2018, according to its <a href="https://www.oaktreecapital.com/about" target="_blank">website</a>.</p><p><a href="https://www.youtube.com/c/CNBC?sub_confirmation=1" target="_blank"><em><strong>Subscribe to CNBC on YouTube.</strong></em></a></p></div>

[The stream is slated to start at 3:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]Oaktree Capital Management co-chairman Howard Marks on Wednesday will speak from the Context Summits Miami conference in Miami Beach, Florida.Marks is known for his prescient investment memos, which warned about the financial crisis and the dot-com bubble implosion. During the 2007-09 market meltdown, the longtime investor established an $11 billion distressed-debt fund aimed at buying the financial instruments of companies near or currently in bankruptcy, helping Marks deliver some of the best returns on Wall Street at the time.Oaktree Capital had $124 billion of assets under management as of September 2018, according to its website.Subscribe to CNBC on YouTube.

2021-10-30 14:11:25.269740

Guggenheim says solar sell-off is a buying opportunity and has an unusual favorite stock

https://www.cnbc.com/2021/06/03/solar-stocks-sunrun-sunnova-among-guggenheims-buy-rated-picks.html

2021-06-03T10:44:44+0000

Pippa Stevens

CNBC

Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks."We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."Following a 140% gain in 2020, the iShares Global Clean Energy ETF has dipped 20% this year. The S&P 500, by comparison, has gained 12%.Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.

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<div class="group"><p>Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks.</p><p>"We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."</p><p>Following a 140% gain in 2020, the <a href="https://www.cnbc.com/quotes/ICLN">iShares Global Clean Energy ETF</a> has dipped 20% this year. The <a href="https://www.cnbc.com/quotes/.SPX">S&amp;P 500</a>, by comparison, has gained 12%.</p><div class="inline-piano-offer"></div><p>Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.</p><p>But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.</p></div>

Renewable energy is poised to play an ever greater role as the world shifts away from fossil fuels, and the recent pullback in clean tech stocks presents a buying opportunity, Guggenheim said while initiating coverage on solar stocks."We believe that the shift to distributed energy generation and storage is a large, sustained phenomenon, and owning best-in-class companies makes sense," the firm wrote in a note to clients. "We expect distributed solar installations to continue growing robustly, especially now that energy storage is becoming economically viable."Following a 140% gain in 2020, the iShares Global Clean Energy ETF has dipped 20% this year. The S&P 500, by comparison, has gained 12%.Guggenheim pointed to several possible factors driving the declines, including excessive valuations after 2020's record run, as well as slower-than-expected governmental policies. Other concerns include rising input costs, such as for steel and semiconductors, and higher interest rates.But given solar's large and growing market, Guggenheim said the pullback is an "attractive opportunity" to pick up shares of quality names.

2021-10-30 14:11:25.348668

Eni Pays Dominion $4.76 Billion for U.S. Gulf Assets

https://www.cnbc.com/2007/04/30/eni-pays-dominion-476-billion-for-us-gulf-assets.html

2007-04-30T06:55:55+0000

CNBC

Italian oil and gas company Eni has bought upstream assets in the Gulf of Mexico from Dominion Resources for $4.757 billion, Eni said in a statement on Monday.Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated."Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.It has made several large acquisitions recently.Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm YUKOS but they handed the bulk of the prize to Russian gas monopoly Gazprom.Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy.

cnbc, Articles, Business News, Economy, US Economy, US: News, source:tagname:Reuters

<div class="group"><p>Italian oil and gas company<strong> Eni </strong>has bought upstream assets in the Gulf of Mexico from <strong>Dominion Resources </strong>for $4.757 billion, Eni said in a statement on Monday.</p><p>Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated.</p><p>"Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.</p><p>Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.</p><p>It has made several large acquisitions recently.</p><p>Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm <strong>YUKOS</strong> but they handed the bulk of the prize to Russian gas monopoly Gazprom.</p><p>Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy. </p></div>

Italian oil and gas company Eni has bought upstream assets in the Gulf of Mexico from Dominion Resources for $4.757 billion, Eni said in a statement on Monday.Eni said the acquisition would boost its production in the area to more than 110,000 barrels of oil equivalent per day (boepd) in the second half of 2007. In the period from 2007-2010, production from the new assets would average more than 75,000 boepd.Eni, Europe's fourth-biggest oil company by market value, said included in the purchase were exploration assets for $680 million and said around 60% of he overall leases were operated."Through this transaction we reach the necessary critical mass for our activities in the Gulf of Mexico," Eni Chief Executive Officer Paolo Scaroni said in the statement.Eni is one of the few world oil majors which has been able to largely avoid a decline in output as it adds production both through acquisitions and as new fields come onstream.It has made several large acquisitions recently.Earlier this month it won with Italian utility Enel a $5.8 billion auction for assets formerly held by bankrupt oil firm YUKOS but they handed the bulk of the prize to Russian gas monopoly Gazprom.Eni agreed to buy a package of Congolese assets from France's Maurel et Prom for $1.4 billion earlier this year and in March struck a deal to split a stake in one of those fields with Burren Energy.

2021-10-30 14:11:25.862794

Strategist Paulsen: Market bottom is not in

https://www.cnbc.com/2015/10/06/strategist-paulsen-market-bottom-is-not-in.html

2015-10-06T19:24:25+0000

Tae Kim

CNBC

Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over. "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom." Here is why he believes the market is vulnerable…

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<div class="group"><p>Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over.<br></p><p> "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. </p><p>He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom."</p><div class="inline-piano-offer"></div><p> Here is why he believes the market is vulnerable…</p></div>

Jim Paulsen, chief investment strategist of Wells Capital Management, believes the stock market sell-off is not over. "Finding a bottom in the stock market may well be a fool's game, but that does not stop us fools from trying," Paulsen wrote to clients Tuesday. He added: "In our view, a quick recovery back near all-time highs would leave the stock market with many of the same vulnerabilities that started the correction. Consequently, we would not be surprised if the stock market tests its correction low yet again and perhaps even fails before reaching a final bottom." Here is why he believes the market is vulnerable…

2021-10-30 14:11:26.028573

CDC says 28 blood clot cases, 3 deaths may be linked to J&J Covid vaccine

https://www.cnbc.com/2021/05/12/cdc-says-28-blood-clot-cases-3-deaths-may-be-linked-to-jj-covid-vaccine.html

2021-05-12T21:01:16+0000

Dawn Kopecki,Rich Mendez

CNBC

CDC scientists say their investigation into a rare blood clotting issue linked to the Johnson & Johnson Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 asked states to temporarily halt using J&J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.They recommended resuming use of the shot 10 days later after the CDC determined that the benefits of the inoculations outweighed their risks.CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows

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<div class="group"><p>CDC scientists say their investigation into a rare blood clotting issue linked to the <a href="//www.cnbc.com/quotes/JNJ" target="_blank">Johnson &amp; Johnson</a> Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.</p><p>The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 <a href="https://www.cnbc.com/2021/04/13/us-regulators-reportedly-call-for-pause-in-use-of-johnson-johnson-vaccine-due-to-clotting-issues.html">asked states to temporarily</a> halt using J&amp;J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.</p><div style="height:100%" class="lazyload-placeholder"></div><p>They recommended <a href="https://www.cnbc.com/2021/04/23/jj-covid-vaccine-cdc-panel-recommends-resuming-use-of-jj-vaccine-.html">resuming use of the shot 10 days later</a> after the CDC determined that the benefits of the inoculations outweighed their risks.</p><p>CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.</p></div>,<div class="group"><p>CDC official Dr. Tom Shimabukuro said Wednesday that four of the 28 people with TTS remained in the hospital as of May 7, one of whom was in the ICU, and two have been discharged to a post-acute care facility. The remaining 19 patients have all been discharged, he said during a presentation to the CDC's Advisory Committee on Immunization Practices. The panel voted earlier in the day to recommend the <a href="//www.cnbc.com/quotes/PFE" target="_blank">Pfizer</a>-<a href="//www.cnbc.com/quotes/BNTX" target="_blank">BioNTech</a> vaccine for use in 12- to 15-year olds.</p></div>,<div class="group"><div class="RelatedContent-relatedContent" id="RegularArticle-RelatedContent-1"><div class="RelatedContent-container"><div class="RelatedContent-nonCollapsibleContent"><h2 class="RelatedContent-header">CNBC Health &amp; Science </h2><div class="group"><p>Read CNBC's latest global coverage of the Covid pandemic:</p><p><a href="https://www.cnbc.com/2021/10/29/pfizer-covid-vaccine-fda-authorizes-for-kids-ages-5-to-11.html">FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11</a> </p><p><a href="https://www.cnbc.com/2021/10/29/south-korea-loosens-restrictions-in-step-toward-living-with-covid-19.html">South Korea loosens restrictions in first step toward 'living with Covid-19' </a> </p><p><a href="https://www.cnbc.com/2021/10/28/florida-sues-biden-over-contractor-covid-vaccine-mandate.html">Florida sues Biden over contractor Covid vaccine mandate</a></p><p><a href="https://www.cnbc.com/2021/10/28/global-covid-cases-and-deaths-rise-for-the-first-time-in-two-months-who-says.html">Global Covid cases and deaths rise for the first time in two months, WHO says</a> </p><p><a href="https://www.cnbc.com/2021/10/28/covid-vaccine-some-5percent-of-unvaccinated-adults-have-quit-their-jobs-over-a-mandate-survey-shows.html">Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows </a></p></div></div></div></div></div>,<div class="group"><p>Read CNBC's latest global coverage of the Covid pandemic:</p><p><a href="https://www.cnbc.com/2021/10/29/pfizer-covid-vaccine-fda-authorizes-for-kids-ages-5-to-11.html">FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11</a> </p><p><a href="https://www.cnbc.com/2021/10/29/south-korea-loosens-restrictions-in-step-toward-living-with-covid-19.html">South Korea loosens restrictions in first step toward 'living with Covid-19' </a> </p><p><a href="https://www.cnbc.com/2021/10/28/florida-sues-biden-over-contractor-covid-vaccine-mandate.html">Florida sues Biden over contractor Covid vaccine mandate</a></p><p><a href="https://www.cnbc.com/2021/10/28/global-covid-cases-and-deaths-rise-for-the-first-time-in-two-months-who-says.html">Global Covid cases and deaths rise for the first time in two months, WHO says</a> </p><p><a href="https://www.cnbc.com/2021/10/28/covid-vaccine-some-5percent-of-unvaccinated-adults-have-quit-their-jobs-over-a-mandate-survey-shows.html">Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows </a></p></div>,<div class="group"><p>The median age of the patients with TTS was 40, ranging from 18 to 59 years old. Women who were 30 to 39 years old accounted for the biggest risk group. All of the patients received the J&amp;J shot before the pause on April 13. Out of the 28 TTS cases, 19 affected the brain with 10 of those patients suffering from a cerebral hemorrhage, Shimabukuro said.</p><p>The other clots formed in the lower extremities, pulmonary arteries or other areas of the body.</p></div>

CDC scientists say their investigation into a rare blood clotting issue linked to the Johnson & Johnson Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 asked states to temporarily halt using J&J's vaccine "out of an abundance of caution" while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.They recommended resuming use of the shot 10 days later after the CDC determined that the benefits of the inoculations outweighed their risks.CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.CDC official Dr. Tom Shimabukuro said Wednesday that four of the 28 people with TTS remained in the hospital as of May 7, one of whom was in the ICU, and two have been discharged to a post-acute care facility. The remaining 19 patients have all been discharged, he said during a presentation to the CDC's Advisory Committee on Immunization Practices. The panel voted earlier in the day to recommend the Pfizer-BioNTech vaccine for use in 12- to 15-year olds.CNBC Health & Science Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows Read CNBC's latest global coverage of the Covid pandemic:FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11 South Korea loosens restrictions in first step toward 'living with Covid-19'  Florida sues Biden over contractor Covid vaccine mandateGlobal Covid cases and deaths rise for the first time in two months, WHO says Some 5% of unvaccinated adults quit their jobs over Covid vaccine mandates, survey shows The median age of the patients with TTS was 40, ranging from 18 to 59 years old. Women who were 30 to 39 years old accounted for the biggest risk group. All of the patients received the J&J shot before the pause on April 13. Out of the 28 TTS cases, 19 affected the brain with 10 of those patients suffering from a cerebral hemorrhage, Shimabukuro said.The other clots formed in the lower extremities, pulmonary arteries or other areas of the body.

2021-10-30 14:11:26.081052

The world’s most powerful women are …

https://www.cnbc.com/2014/05/28/the-worlds-most-powerful-women-are.html

2014-05-29T01:01:17+0000

CNBC

Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence." Read More Why am I rich? Wealthy women cite frugality, good advice She cited Sheryl Sandberg, the chief operating officer at Facebook, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign.

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<div class="group"><p> Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. </p><p> "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. </p><div style="height:100%" class="lazyload-placeholder"></div><p> "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence."</p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/03/11/wealthy-women-cite-frugality-good-advice-in-creating-wealth.html">Why am I rich? Wealthy women cite frugality, good advice</a><br></p><p> She cited Sheryl Sandberg, the chief operating officer at <a href="//www.cnbc.com/quotes/FB" target="_blank">Facebook</a>, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign. </p></div>,<div class="group"><p>"This is someone who not only has huge power in the business arena, changing the face of connectivity as we know it, but someone who's also shaping the agenda and driving conversations on critical issues for women," Forbes said. "That is power and that is using it across multiple spheres."<br></p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/03/04/women-in-business-females-still-mostly-shut-out-of-boardrooms.html">Boardroom boys club: Women still mostly shut out</a><br></p><div style="height:100%" class="lazyload-placeholder"></div><p> Only three of the top-10 come from the corporate world, likely a side effect of the few female leaders at the largest companies, but the 28 corporate CEOs on the list control around $1.7 trillion in annual revenue and 18 founded their own companies or foundations. </p><p> Angela Merkel, the chancellor of Germany, topped the list, her 10th appearance since the list was created 11 years ago. The second spot went to Janet Yellen, the chief of the U.S. Federal Reserve, in her inaugural appearance on the list. </p><p>Melinda Gates, the co-chair of the Bill &amp; Melinda Gates Foundation, Dilma Rouseff, the president of Brazil, and Christine Lagarde, managing director of the IMF, round out the top five spots, according to Forbes. </p><p> <span class="label-read-more">Read More</span> <a href="https://www.cnbc.com/2014/05/28/constant-inspection-stymies-women-in-power-wolf.html">'Constant inspection' stymies women in power: Wolf</a><br></p><p> Among women who have made the list every year, Hillary Clinton, a former U.S. senator, former U.S. Secretary of State, former First Lady and likely presidential candidate, took the number six spot. </p></div>,<div class="group"><p> Within Asia, Ho Ching, the CEO of Singapore's sovereign wealth fund <a href="//www.cnbc.com/quotes/undefined" target="_blank">Temasek</a>, which has around $170 billion under management, moved up to number 59 from 64 last year. She's been on the list every year since its founding. </p><p> The list also includes some less obvious players, such as list newcomer Yao Chen, a Chinese actress, who ranked at 83. </p><p> <span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2014/05/08/womenomics-japans-new-growth-bazooka.html">Womenomics: Japan's new growth bazooka? </a><br></p><p> "She's someone who reflects a new dynamic of power, with 51 million followers on <a href="//www.cnbc.com/quotes/WB" target="_blank">Weibo</a>, the largest social media following of any of our listees," Forbes said. "She's become a huge voice for human rights in a country like China. She's become the first U.N. refugee ambassador form the country. So she's leveraging that influence not just for her celebrity brand, but in a positive way to spotlight critical issues." <br></p><p> One high profile dropout from the list this year was Yingluck Shinawatra, who was removed from her post as the prime minister of Thailand shortly before a military coup. Yingluck is currently under house arrest and forbidden from leaving her country. </p><p> <em>—By CNBC.Com's Leslie Shaffer; Follow her on Twitter</em> <a href="https://twitter.com/LeslieShaffer1" target="_blank">@LeslieShaffer1</a></p></div>

Forbes has "leaned in," releasing its annual list of the world's 100 most powerful women, looking largely outside the corporate C-suite for its power players. "We've taken a much more expansive, dynamic look at power, not just traditional power roles such as running a corporation or head of state, but also creative dynamic power," Moira Forbes, president and publisher of ForbesWoman, told CNBC. "Money is always important to look at because it is a form of influence particularly when you're looking at the size of a global business, the impact it has, the size of an economy," Forbes said. "But also we looked at things like social influence." Read More Why am I rich? Wealthy women cite frugality, good advice She cited Sheryl Sandberg, the chief operating officer at Facebook, ranked ninth on the list, as an example, noting Sandberg is a business leader, self-made billionaire and uses her influence to drive dialogues on women in leadership through her "lean in" campaign. "This is someone who not only has huge power in the business arena, changing the face of connectivity as we know it, but someone who's also shaping the agenda and driving conversations on critical issues for women," Forbes said. "That is power and that is using it across multiple spheres." Read More Boardroom boys club: Women still mostly shut out Only three of the top-10 come from the corporate world, likely a side effect of the few female leaders at the largest companies, but the 28 corporate CEOs on the list control around $1.7 trillion in annual revenue and 18 founded their own companies or foundations. Angela Merkel, the chancellor of Germany, topped the list, her 10th appearance since the list was created 11 years ago. The second spot went to Janet Yellen, the chief of the U.S. Federal Reserve, in her inaugural appearance on the list. Melinda Gates, the co-chair of the Bill & Melinda Gates Foundation, Dilma Rouseff, the president of Brazil, and Christine Lagarde, managing director of the IMF, round out the top five spots, according to Forbes. Read More 'Constant inspection' stymies women in power: Wolf Among women who have made the list every year, Hillary Clinton, a former U.S. senator, former U.S. Secretary of State, former First Lady and likely presidential candidate, took the number six spot. Within Asia, Ho Ching, the CEO of Singapore's sovereign wealth fund Temasek, which has around $170 billion under management, moved up to number 59 from 64 last year. She's been on the list every year since its founding. The list also includes some less obvious players, such as list newcomer Yao Chen, a Chinese actress, who ranked at 83. Read MoreWomenomics: Japan's new growth bazooka? "She's someone who reflects a new dynamic of power, with 51 million followers on Weibo, the largest social media following of any of our listees," Forbes said. "She's become a huge voice for human rights in a country like China. She's become the first U.N. refugee ambassador form the country. So she's leveraging that influence not just for her celebrity brand, but in a positive way to spotlight critical issues." One high profile dropout from the list this year was Yingluck Shinawatra, who was removed from her post as the prime minister of Thailand shortly before a military coup. Yingluck is currently under house arrest and forbidden from leaving her country. —By CNBC.Com's Leslie Shaffer; Follow her on Twitter @LeslieShaffer1

2021-10-30 14:11:26.124835

Banks within Wal-Mart stores collecting high fees

https://www.cnbc.com/2014/05/12/banks-within-wal-mart-stores-collecting-high-fees.html

2014-05-12T15:38:19+0000

CNBC.com staff

CNBC

Wal-Mart has a reputation for offering shoppers low prices, but a report in The Wall Street Journal found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges. After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits. Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company. Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt. A Wal-Mart spokesperson told the Journal it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."To read the full story, click here.

cnbc, Articles, Retail industry, Banks, Walmart Inc, Retail, US: News, DO NOT USE Consumer, Regional Banks, Business News, source:tagname:CNBC US Source

<div class="group"><p> <a href="//www.cnbc.com/quotes/WMT" target="_blank">Wal-Mart</a> has a reputation for offering shoppers low prices, but <a href="http://online.wsj.com/news/articles/SB10001424052702304734304579515730198367754?mg=reno64-wsj" target="_blank">a report in <em>The Wall Street Journal</em></a> found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges.</p><p> After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits.</p><div style="height:100%" class="lazyload-placeholder"></div><p> Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company.</p><p> Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt.<br></p><p> A Wal-Mart spokesperson told the <em>Journal</em> it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."</p><p>To read the full story, <a href="http://online.wsj.com/news/articles/SB10001424052702304734304579515730198367754?mg=reno64-wsj" target="_blank">click here</a>.</p></div>

Wal-Mart has a reputation for offering shoppers low prices, but a report in The Wall Street Journal found that the independent banks it houses inside its stores levy some of the highest bank fees, largely as a result of overdraft charges. After analyzing federal filings, the publication found that last year, the five banks that have the largest presence in the discounter's stores were among the top 10 domestic banks in terms of income from fees as a percentage of deposits. Those banks are Fort Sill National Bank, First Convenience Bank, Academy Bank, Woodforest National Bank and City National Bank and Trust Company. Overdraft fees can be a big issue for people struggling financially, as accruing them over time makes it makes it difficult to get out of debt. A Wal-Mart spokesperson told the Journal it plays no part in operating the banks, but that it ensures "they're in line with Wal-Mart's philosophy of saving customers money."To read the full story, click here.

2021-10-30 14:11:26.231448

The Materials Of A Trade

https://www.cnbc.com/2008/03/03/the-materials-of-a-trade.html

2008-03-04T00:25:24+0000

Lee Brodie

CNBC

cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source

<div class="group"></div>,<div class="group"><p>In Monday’s Web Extra, Pete Najarian reveals where he’s seeing put buying. Also why stocks are plunging in Japan. This content is only available online - you won't find these trades on TV. <br><br></p><p><br>______________________________________________________<br>Got something to say? Send us an e-mail at <a href="mailto:fastmoney-web@cnbc.com" class="webresource" target="_blank">fastmoney-web@cnbc.com</a> and your comment might be posted on the <em>Rapid Recap</em>! Prefer to keep it between us? You can still send questions and comments to <!-- -->.</p><div style="height:100%" class="lazyload-placeholder"></div><p><em>Trader disclosure: On Mar. 3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"</em></p></div>

In Monday’s Web Extra, Pete Najarian reveals where he’s seeing put buying. Also why stocks are plunging in Japan. This content is only available online - you won't find these trades on TV. ______________________________________________________Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .Trader disclosure: On Mar. 3, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (ATVI) (YHOO); Najarian Owns (AAPL), (C), (ETFC), (MS), (MSFT), (XLF); Najarian Owns (COP) Calls; Najarian Owns (YHOO) And (YHOO) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (MSFT), (TSO), (YHOO), (BJS); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Charles Schwab Is A Sponsor Of "Fast Money"

2021-10-30 14:11:26.384403

CA leaders propose $1B drought relief package

https://www.cnbc.com/2015/03/19/ca-leaders-propose-1b-drought-relief-package.html

2015-03-19T19:43:07+0000

Jacob Pramuk

CNBC

California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."Read More2014 California drought was bad. 2015 will be worseThe package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather.

cnbc, Articles, Legislation, Agriculture, Weather, Weather and Natural Disasters, US: News, Politics, Law, source:tagname:CNBC US Source

<div class="group"><p> California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. </p><p> "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."<br></p><div style="height:100%" class="lazyload-placeholder"></div><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/03/03/california-drought-seen-having-worsening-3-billion-economic-impact-in-2015.html">2014 California drought was bad. 2015 will be worse</a></p><p>The package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather.</p></div>,<div class="group"><p> It would also accelerate $128 million in funding from Brown's budget to communities heavily affected by the drought, the governor's office said. </p><p> About 93 percent of California remains in at least a severe drought, according to the U.S. Drought Monitor. Drought in the state is expected to causes losses of about $3 billion this year.</p><p><span class="label-read-more">Read More</span><a href="https://www.cnbc.com/2015/02/10/california-drought-states-tempt-california-dairy-farms--we-have-water.html">Why California's dairy cows are leaving the state</a></p><p> California has pledged more than $870 million to drought relief since last February. Brown has previously called on California residents to reduce their water use.</p></div>

California Gov. Jerry Brown and state leaders unveiled legislation Thursday for a $1 billion drought relief package designed to help the state deal with ongoing dry conditions. "This unprecedented drought continues with no signs yet of letting up," Brown said in a release. "The programs funded by the actions announced today will provide direct relief to workers and communities most impacted by these historic dry conditions."Read More2014 California drought was bad. 2015 will be worseThe package would include funding for safe drinking water and infrastructure projects designed to help the state deal with dry weather. It would also accelerate $128 million in funding from Brown's budget to communities heavily affected by the drought, the governor's office said. About 93 percent of California remains in at least a severe drought, according to the U.S. Drought Monitor. Drought in the state is expected to causes losses of about $3 billion this year.Read MoreWhy California's dairy cows are leaving the state California has pledged more than $870 million to drought relief since last February. Brown has previously called on California residents to reduce their water use.

2021-10-30 14:11:26.589512

Philippines Q1 GDP growth slows to 1.1% q/q

https://www.cnbc.com/2016/05/18/philippines-q1-gdp-growth-slows-to-11-qq.html

2016-05-19T03:03:37+0000

CNBC

Philippines' economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. Follow CNBC International on Twitter and Facebook.

cnbc, Articles, Economy, Asia News, Philippines, Business News, US Economy, Economic Reports, GDP, source:tagname:Reuters

<div class="group"><p><a href="https://www.cnbc.com/id/10000170">Philippines'</a> economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. </p><p>The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. </p><div style="height:100%" class="lazyload-placeholder"></div><p>From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. </p><p><em> Follow CNBC International on <a href="https://twitter.com/cnbci" target="_blank">Twitter</a> and <a href="https://www.facebook.com/cnbcinternational" target="_blank">Facebook</a>.</em><br></p></div>

Philippines' economic growth halved in the first quarter from the previous three-month period as weak exports and agriculture hurt overall output, the statistics agency said on Thursday. The economy grew 1.1 percent in the first quarter, below the 1.6 percent forecast in a Reuters poll, and slower than the upwardly revised 2.1 percent in October-December. From a year earlier, first quarter growth was 6.9 percent, picking up from 6.5 percent in the fourth quarter and stronger than a forecast 6.6 percent. Follow CNBC International on Twitter and Facebook.

2021-10-30 14:11:26.630228

Pitbull fallout: Governor wants tourism head to step down

https://www.cnbc.com/2016/12/17/pitbull-fallout-governor-wants-tourism-head-to-step-down.html

2016-12-17T15:07:56+0000

CNBC

Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.

cnbc, Articles, US: News, Business News, Economy, US Economy, source:tagname:The Associated Press

<div class="group"><p> Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.</p><p>Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.</p><p>House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.</p><p>Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.</p><br></div>

Gov. Rick Scott wants the head of the state's tourism marketing agency to step down after Visit Florida refused to publicly disclose it paid rapper Pitbull $1 million to promote the state.Scott made the request Friday in a letter sent to the agency's board. The governor is also asking Visit Florida to begin publishing its spending, contracts, salaries, audits and other financial information.The requests comes after Visit Florida refused to make public the contract it had with Pitbull, who recorded a video of the song "Sexy Beaches" to promote Florida.House Speaker Richard Corcoran sued this week to have the contract released, and Pitbull — not Visit Florida — made it public two days later.Scott said it is ridiculous that Visit Florida wasn't transparent about its spending.

2021-10-30 14:11:26.913081

Georgia's lieutenant governor says he will 'kill' Delta tax break unless airline reinstates relationship with NRA

https://www.cnbc.com/2018/02/26/georgia-lt-gov-will-kill-delta-tax-break-unless-airline-restores-nra-ties.html

2018-02-26T21:26:02+0000

Leslie Josephs

CNBC

Republican politicians in Delta Air Lines' home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting."I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back." I will kill any tax legislation that benefits @Delta unless the company changes its position and fully reinstates its relationship with @NRA. Corporations cannot attack conservatives and expect us not to fight back.

cnbc, Articles, Business, Politics, Avis Budget Group Inc, American Airlines Group Inc, Southwest Airlines Co, United Airlines Holdings Inc, Delta Air Lines Inc, Life, Transportation, Travel, Business News, US: News, DO NOT USE Consumer, Airlines, source:tagname:CNBC US Source

<div class="group"><p>Republican politicians in <a href="//www.cnbc.com/quotes/DAL" target="_blank">Delta Air Lines' </a>home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting.</p><p>"I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back."</p><div style="height:100%" class="lazyload-placeholder"></div><p><a href="https://twitter.com/CaseyCagle/status/968199605803454465" target="_blank"> I will kill any tax legislation that benefits @<b>Delta</b> unless the company changes its position and fully reinstates its relationship with @<b>NRA</b>. Corporations cannot attack conservatives and expect us not to fight back. </a></p></div>,<div class="group"><p>Atlanta-based Delta and its competitor <a href="//www.cnbc.com/quotes/UAL" target="_blank">United Airlines</a> over the weekend said they would no longer offer discounts for travel to the meeting in May. The airlines joined a list of other companies, including <a href="//www.cnbc.com/quotes/CAR" target="_blank">Avis Budget Group</a>, <a href="//www.cnbc.com/quotes/HTZZ" target="_blank">Hertz Global Holdings</a> and <a href="//www.cnbc.com/quotes/MET" target="_blank">Metlife</a> that announced they would end their relationship with the gun rights group after 17 people were killed in the mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, on Feb. 14.</p><p>Candidate for lieutenant governor and former state senator Rick Jeffares tweeted that he is "leading the charge to let Delta know their attack on the NRA and our 2nd Amendment is unacceptable."</p><p><a href="https://twitter.com/RickJeffaresGA/status/968176525550997504" target="_blank">If Delta is so flush that they don't need NRA members h<em>a</em>rd-earned dollars, they can certainly do without the $40 million tax break they are asking GA taxpayers for</a></p><p>After its tweet announcing the end of the NRA discounts, Delta said in a statement that the "decision reflects the airline's neutral status in the current national debate over gun control amid recent school shootings" and that it was taken "out of respect for our customers and employees on both sides." </p><div style="height:100%" class="lazyload-placeholder"></div></div>,<div class="group"><p>The airline added that "it continues to support the Second Amendment."</p><p>On social media, some customers thanked the airlines for taking a stance against the NRA while others said they would take their business to other airlines. Delta is the second-largest airline behind <a href="//www.cnbc.com/quotes/AAL" target="_blank">American Airlines</a>, which does not have such a discount agreement with the NRA, a spokesman said. <a href="//www.cnbc.com/quotes/LUV" target="_blank">Southwest</a> also said it does not have an agreement with the NRA.</p><p>The NRA called the decision of the companies to cut perks to the NRA "a shameful display of political and civic cowardice.</p><p>In time, these brands will be replaced by others who recognize that patriotism and determined commitment to Constitutional freedoms are characteristics of a marketplace they very much want to serve," the NRA added.</p><p>United and Delta had offered airfare discounts of between 2 percent and 10 percent, according to the NRA's website. </p><p>The decision by the two airlines is more "symbolic" and doesn't cut any meaningful discount, said Henry Harteveldt, a travel-industry expert and founder of the consulting group Atmosphere Research Group. After airlines have gone through waves of large mergers many travelers may not have much choice in alternative carriers.</p><p>"You have consolidation," Harteveldt said.</p></div>,<div class="group"></div>,<div class="group"></div>

Republican politicians in Delta Air Lines' home state of Georgia are striking back at the airline after it decided to scrap discounted airfare for participants in an upcoming National Rifle Association meeting."I will kill any tax legislation that benefits Delta unless the company changes its position and fully reinstates its relationship with the NRA," tweeted Lt. Gov. Casey Cagle, referring to a bill that could save Delta taxes on jet fuel. "Corporations cannot attack conservatives and expect us not to fight back." I will kill any tax legislation that benefits @Delta unless the company changes its position and fully reinstates its relationship with @NRA. Corporations cannot attack conservatives and expect us not to fight back. Atlanta-based Delta and its competitor United Airlines over the weekend said they would no longer offer discounts for travel to the meeting in May. The airlines joined a list of other companies, including Avis Budget Group, Hertz Global Holdings and Metlife that announced they would end their relationship with the gun rights group after 17 people were killed in the mass shooting at Marjory Stoneman Douglas High School in Parkland, Florida, on Feb. 14.Candidate for lieutenant governor and former state senator Rick Jeffares tweeted that he is "leading the charge to let Delta know their attack on the NRA and our 2nd Amendment is unacceptable."If Delta is so flush that they don't need NRA members hard-earned dollars, they can certainly do without the $40 million tax break they are asking GA taxpayers forAfter its tweet announcing the end of the NRA discounts, Delta said in a statement that the "decision reflects the airline's neutral status in the current national debate over gun control amid recent school shootings" and that it was taken "out of respect for our customers and employees on both sides." The airline added that "it continues to support the Second Amendment."On social media, some customers thanked the airlines for taking a stance against the NRA while others said they would take their business to other airlines. Delta is the second-largest airline behind American Airlines, which does not have such a discount agreement with the NRA, a spokesman said. Southwest also said it does not have an agreement with the NRA.The NRA called the decision of the companies to cut perks to the NRA "a shameful display of political and civic cowardice.In time, these brands will be replaced by others who recognize that patriotism and determined commitment to Constitutional freedoms are characteristics of a marketplace they very much want to serve," the NRA added.United and Delta had offered airfare discounts of between 2 percent and 10 percent, according to the NRA's website. The decision by the two airlines is more "symbolic" and doesn't cut any meaningful discount, said Henry Harteveldt, a travel-industry expert and founder of the consulting group Atmosphere Research Group. After airlines have gone through waves of large mergers many travelers may not have much choice in alternative carriers."You have consolidation," Harteveldt said.

2021-10-30 14:11:26.955704

Fast Funds: Final Call

https://www.cnbc.com/2007/07/04/fast-funds-final-call.html

2007-07-05T00:57:16+0000

Carlo Dellaverson

CNBC

So what do the guys think is the best ETF overall?Jeff Macke says it’s the EWA, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. Pete Najarian loves the refiners, and thinks PXE is the best ETF to play them. Guy Adami likes the German EWG for its financial and utilities spin. Eric Bolling has two dividend-yielding ETFs: the DVY as a domestic play and the PID for international exposure.

cnbc, Articles, CNBC TV, Fast Money, source:tagname:CNBC US Source

<div class="group"><p>So what do the guys think is the best ETF overall?</p><p>Jeff Macke says it’s the <strong>EWA</strong>, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Pete Najarian loves the refiners, and thinks <strong>PXE</strong> is the best ETF to play them. </p><p>Guy Adami likes the German <strong>EWG </strong>for its financial and utilities spin. </p><p>Eric Bolling has two dividend-yielding ETFs: the <strong>DVY </strong>as a domestic play and the <strong>PID </strong>for international exposure. </p></div>,<div class="group"><p><br>_________________________________________<br>Got something to say? Send us an e-mail at <a href="mailto:fastmoney-web@cnbc.com" class="webresource" target="_blank">fastmoney-web@cnbc.com</a> and your comment might be posted on the <em>Rapid Recap</em>! Prefer to keep it between us? You can still send questions and comments to <!-- -->.</p><p><em>Trader disclosure: On July 3rd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders </em><em>Macke Owns (DIS); Najarian Owns (DNDN), (ERIC), (HLT), (JNPR (CBH), (IMMR); </em>Najarian Closed Out Of (BIDU) Today; <em>Bolling Owns (DIS), (T), (XOM), Natural Gas, Corn; </em>Najarian Owned (HOT) On 6/4/07</p></div>

So what do the guys think is the best ETF overall?Jeff Macke says it’s the EWA, the Australian ETF that services the explosion in China without all the volatility. Australia is a long-term growth story, he says. Pete Najarian loves the refiners, and thinks PXE is the best ETF to play them. Guy Adami likes the German EWG for its financial and utilities spin. Eric Bolling has two dividend-yielding ETFs: the DVY as a domestic play and the PID for international exposure. _________________________________________Got something to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap! Prefer to keep it between us? You can still send questions and comments to .Trader disclosure: On July 3rd 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Macke Owns (DIS); Najarian Owns (DNDN), (ERIC), (HLT), (JNPR (CBH), (IMMR); Najarian Closed Out Of (BIDU) Today; Bolling Owns (DIS), (T), (XOM), Natural Gas, Corn; Najarian Owned (HOT) On 6/4/07

2021-10-30 14:11:27.110423

Dow closes 380 points lower, snaps longest monthly win streak since 1959

https://www.cnbc.com/2018/02/28/us-stocks-interest-rates-fed-markets.html

2018-02-28T14:30:29+0000

Fred Imbert

CNBC

U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.The Dow Jones industrial average closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.The pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The Nasdaq composite ended 0.8 percent lower at 7,273.01.Jeff Kilburg, CEO of KKM Financial said the S&P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.Earlier in the session, the S&P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. The Dow and S&P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm."The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."

cnbc, Articles, Lowe's Companies Inc, NASDAQ Composite, S&P 500 Index, Dow Jones Industrial Average, Goldman Sachs Group Inc, Markets, US: News, U.S. Markets, source:tagname:CNBC US Source

<div class="group"><p>U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.</p><p>The <a href="https://www.cnbc.com/quotes/.DJI">Dow Jones industrial average</a> closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.</p><div style="height:100%" class="lazyload-placeholder"></div><p>More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.</p><p></p><div class="InlineImage-imageEmbed" id="ArticleBody-InlineImage-undefined" data-test="InlineImage"><div class="InlineImage-wrapper InlineImage-wrapperNoCaption"><div class="InlineImage-imagePlaceholder" style="padding-bottom:55.55555555555556%"><div style="height:100%" class="lazyload-placeholder"></div></div><div><div class="InlineImage-imageEmbedCaption"></div><div class="InlineImage-imageEmbedCredit"></div></div></div></div><p>The <!-- --> pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The <a href="https://www.cnbc.com/quotes/.IXIC">Nasdaq composite</a> ended 0.8 percent lower at 7,273.01.</p><p><span>Jeff Kilburg, CEO of KKM Financial said the S&amp;P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.</span></p><p><span>Earlier in the session, the S&amp;P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. </span></p><div style="height:100%" class="lazyload-placeholder"></div><p>The Dow and S&amp;P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&amp;P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.</p><p>February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm.</p><p>"The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."</p></div>,<div class="group"><p>But the Dow, S&amp;P 500 and Nasdaq had recovered some of those losses as of Wednesday's close. The Dow and S&amp;P 500 are 6 percent and 5.5 percent, respectively, below their all-time highs, while the Nasdaq was 3.1 percent away.</p><p>Stocks rose earlier on Wednesday as interest rates stabilized. On Tuesday, the 10-year U.S. note yield jumped about five basis points to over 2.9 percent after Federal Reserve Chair Jerome Powell hinted at the possibility of more than three rate hikes for 2018 in his testimony to Congress members.</p><p>Powell's testimony also sent stocks reeling. The Dow closed nearly 300 points lower, while the S&amp;P 500 and Nasdaq finished the previous session down 1.3 percent and 1.2 percent, respectively.</p><p>"Valuations keep getting stretched," said Eric Ervin, CEO of Reality Shares. "As long as rates remain low, the market can justify them. But as rates go higher, then we have to have higher earnings growth. The question is can companies sustain this."</p><p>Powell is scheduled to testify in front of Congress again on Thursday.</p><p>In corporate news, home improvement retailer <a href="//www.cnbc.com/quotes/LOW" target="_blank">Lowe's</a> reported weaker-than-expected quarterly earnings, sending the company's stock down more than 6 percent. </p><p><a href="//www.cnbc.com/quotes/BKNG" target="_blank">Booking Holdings</a> — formerly known as Priceline — saw its shares spike more than 6 percent after reporting better-than-expected adjusted earnings.</p><p><em>Correction: Powell is scheduled to testify in front of Congress on Thursday. A previous version of this story misstated the day.</em></p></div>,<div class="group"></div>,<div class="group"></div>

U.S. stocks fell sharply in choppy trade Wednesday, giving up earlier gains, as Wall Street wrapped up a volatile month for the major averages.The Dow Jones industrial average closed 380.83 points lower at 25,029.20, with Caterpillar as the worst-performing stock in the index.More than half of the day's losses came in the final hour of trading with the Dow losing more than 240 points in the final 60 minutes.The pulled back 0.9 percent to close at 2,713.83, with energy as the worst-performing sector. The Nasdaq composite ended 0.8 percent lower at 7,273.01.Jeff Kilburg, CEO of KKM Financial said the S&P 500 dipped below its 50-day moving average late in the session. "That forces some technical selling pressure and flushes out some weak longs," he said.Earlier in the session, the S&P 500 and Nasdaq rose as much as 0.6 percent and 0.7 percent, respectively. The Dow gained as much as 166.12 points. The Dow and S&P 500 snapped 10-month winning streaks, their longest since 1959. The Nasdaq posted a monthly loss for the first time in eight months. For the month, the Dow and S&P 500 closed lower by 4.3 percent and 3.9 percent, respectively. The Nasdaq closed February down 1.9 percent.February was a volatile month for stocks. The major averages dipped in correction territory earlier this month, falling 10 percent from record highs set on Jan. 26. The move lower came as fears of rising inflation sent rates higher and sent market volatility surging after a year of unprecedented calm."The volatility is being caused by one overarching theme: The market doesn't know what to expect from the Fed," said Tom Essaye, founder of The Sevens Report. "There's uncertainty around that and it's going to continue for the next several months."But the Dow, S&P 500 and Nasdaq had recovered some of those losses as of Wednesday's close. The Dow and S&P 500 are 6 percent and 5.5 percent, respectively, below their all-time highs, while the Nasdaq was 3.1 percent away.Stocks rose earlier on Wednesday as interest rates stabilized. On Tuesday, the 10-year U.S. note yield jumped about five basis points to over 2.9 percent after Federal Reserve Chair Jerome Powell hinted at the possibility of more than three rate hikes for 2018 in his testimony to Congress members.Powell's testimony also sent stocks reeling. The Dow closed nearly 300 points lower, while the S&P 500 and Nasdaq finished the previous session down 1.3 percent and 1.2 percent, respectively."Valuations keep getting stretched," said Eric Ervin, CEO of Reality Shares. "As long as rates remain low, the market can justify them. But as rates go higher, then we have to have higher earnings growth. The question is can companies sustain this."Powell is scheduled to testify in front of Congress again on Thursday.In corporate news, home improvement retailer Lowe's reported weaker-than-expected quarterly earnings, sending the company's stock down more than 6 percent. Booking Holdings — formerly known as Priceline — saw its shares spike more than 6 percent after reporting better-than-expected adjusted earnings.Correction: Powell is scheduled to testify in front of Congress on Thursday. A previous version of this story misstated the day.

2021-10-30 14:11:27.154787

Cramer’s Top 6 Comeback Stocks for 2010

https://www.cnbc.com/2010/07/26/Cramers-Top-6-Comeback-Stocks-for-2010.html

2010-07-26T14:19:22+0000

CNBC

Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.The Mad Money host found a number of stocks, culled from the S&P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.Read on for the Top 6 Comeback Stocks of 2010.Posted 26 July 2010

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<div class="group"><p>Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.<br><br>The Mad Money host found a number of stocks, culled from the S&amp;P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. <br><br>The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.<br><br>Read on for the Top 6 Comeback Stocks of 2010.<br><br><em>Posted 26 July 2010</em></p></div>,<div class="group"><p>When Cramer highlighted Verizon on July 12, the stock had fallen 15% over the first six months of 2010. They may come as little surprise given that telecommunications was the S&amp;P 500’s worst-of-the-worst sector over the same time period, but Cramer is expecting a turnaround here, at least for Verizon.<br><br>He said the company holds “huge opportunities” in the wireless space, where it owns 55% of the second-largest carrier in the industry, Verizon Wireless. And with the “reaffirmed rumors” that the company will start selling the Apple iPhone in January 2011, “I think … Verizon should lead the industry in terms of market share gains,” given how much of a game-changer the handset was for AT&amp;T. <br><br>And that’s not even taking into account smartphones as a whole. Only 17% of the company’s wireless subscribers own true smartphones, leaving open a huge opportunity for revenue growth as they make the switch.<br><br><a href="https://www.cnbc.com/2010/07/12/telcos-biggest-loser-this-year.html">Click here for more on Verizon.</a><br></p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Cramer thinks this graphics chipmaker, down 40% in the first half of the year, should snap back thanks to a number of new revenue-driving products for gaming PCs, notebooks, netbooks tablets and smartphones. There’s also new visual computing software, like Adobe’s Creative Suite 5, require NVIDIA’s high-end semiconductors, also giving a boost to revenues.<br><br>The company’s ION chips for notebook computers are in 70 laptop designs, 50 of which are scheduled to start production in the next six months. And NVIDIA’s chip for smartphones and tablets should be in a whole slew of products that are also going into production during the last part of the year.<br><br>For these reasons, NVDA should be ramping ahead of these products launches, not losing nearly half its share-price value. And that’s why Cramer thinks the stock could be “one of the biggest gainers in the second half” of 2010.<br><br><a href="https://www.cnbc.com/2010/07/13/techs-comeback-kids.html">Click here for more on NVIDIA.</a><br></p></div>,<div class="group"><p>Oddly, Jabil’s stock took a 15% hit over the first two quarters of the year, even though the company’s June 22 earnings report showed a business that is firing on all cylinders. The problem? Too much exposure to Europe – as much as 31% of Jabil’s production ends up on the Continent – and that has sent investors running. <br><br>According to the company, though, there has been no slowdown in business there. So that collective freak-out was all for naught. And as Europe comes back, Cramer said, so should JBL. Investors might consider buying the stock now given how cheap it is.<br><br><a href="https://www.cnbc.com/2010/07/13/techs-comeback-kids.html">Click here for more on Jabil Circuit.</a><br></p></div>,<div class="group"><p>The catalyst for this stock’s rebound will most likely be study that Range Resource conducted on its drilling practices that flew in the face of environmentalists everywhere. <br><br>Hydraulic fracturing, or fracking, is a process by which natural-gas drillers like RRC use large amounts of water with some chemical additives to boost production, and there had been concerns from both environmentalists and the Environmental Protection Agency that it could contaminate drinking water – even though there never been any documented cases of that contamination.<br><br>Well, Range Resources in July disclosed that , for its Marcellus shale wells, 99.86% of its drilling fluid consists of water and sand, with just 0.14% comprising highly diluted chemicals. RRC was the first company to “open its books,” so to speak, in this way, and RRC rallied accordingly.<br><br>“I think maybe this the beginning of a major turn in the stock,” Cramer said.<br><br><a href="https://www.cnbc.com/2010/07/14/range-resources-set-for-a-major-rebound.html">Click here for more on Range Resources.</a><br></p></div>,<div class="group"><p>This health-care company lost 11.4% of its value this year, in part, because of its exposure to Europe – 24% of the company's sales come from the Continent. But Cramer thinks this will become less of an issue in the second half of the year, as CEO Miles White has vowed to take a conservative stance on European business.<br><br>Cramer also likes the pharmaceutical company's range of drugs and little exposure to generics. Its flagship product, Humira, is a psoriasis drug and anti-inflammatory, which makes up 35% of the company's sales and is growing by 20%.<br><br>The Abbott Park, Ill.-based company is also making "savvy" acquisitions in emerging markets, including India, which is an $8 billion pharmaceutical market that's expected to double in size by 2015. <br><br>Plus, the company boasts a 3.6% dividend yield and, for the last 38 years, has increased its payout every year. 2010 should be no different, Cramer said, because it's growing earnings at 11% annually, which is twice the pace of other pharmaceuticals.<br><br><a href="https://www.cnbc.com/2010/07/15/healthcares-most-underrated-stock.html">Click here for more on Abbott Labs.</a><br></p></div>,<div class="group"><p>This West Chester, Ohio-based steel company struggled in the first half of the year, posting a 37% decline year-to-date. Cramer didn't like this stock at first because it's not a vertically-integrated steel maker, meaning it doesn't have its own mines and needs to buy its primary raw materials. In other words, AK Steel's operating costs were very high.<br><br>But Cramer thinks this stock could be poised for a turnaround, as those costs have since plummeted. He also likes the company's management, who reduced the employee headcount by 30% while maintaining the same production capacity. At the same time, the company has used more than $2 billion of internally generated cash to shore up its balance sheet. It has also managed to muddle through the recession without selling equity, issuing debt or cutting its small dividend, which has a 1.4% yield.<br><br>Click here for more on AK Steel.<br></p></div>

Down big in the first half of the year, up big in the second – that is Cramer’s latest investing thesis.The Mad Money host found a number of stocks, culled from the S&P 500’s worst-performing sectors, that he thinks offers a tremendous amount of snapback potential. One of them, in fact, has lost almost half its value so far in 2010, but Cramer said it could end up being one of the best stocks to own over the next six months. The others, whose loses may not be as severe, still stand up as very attractive buys for the rest of the year, Cramer said. Investors who agree with him probably want to buy in now, as these picks won’t stay secret for long.Read on for the Top 6 Comeback Stocks of 2010.Posted 26 July 2010When Cramer highlighted Verizon on July 12, the stock had fallen 15% over the first six months of 2010. They may come as little surprise given that telecommunications was the S&P 500’s worst-of-the-worst sector over the same time period, but Cramer is expecting a turnaround here, at least for Verizon.He said the company holds “huge opportunities” in the wireless space, where it owns 55% of the second-largest carrier in the industry, Verizon Wireless. And with the “reaffirmed rumors” that the company will start selling the Apple iPhone in January 2011, “I think … Verizon should lead the industry in terms of market share gains,” given how much of a game-changer the handset was for AT&T. And that’s not even taking into account smartphones as a whole. Only 17% of the company’s wireless subscribers own true smartphones, leaving open a huge opportunity for revenue growth as they make the switch.Click here for more on Verizon.Cramer thinks this graphics chipmaker, down 40% in the first half of the year, should snap back thanks to a number of new revenue-driving products for gaming PCs, notebooks, netbooks tablets and smartphones. There’s also new visual computing software, like Adobe’s Creative Suite 5, require NVIDIA’s high-end semiconductors, also giving a boost to revenues.The company’s ION chips for notebook computers are in 70 laptop designs, 50 of which are scheduled to start production in the next six months. And NVIDIA’s chip for smartphones and tablets should be in a whole slew of products that are also going into production during the last part of the year.For these reasons, NVDA should be ramping ahead of these products launches, not losing nearly half its share-price value. And that’s why Cramer thinks the stock could be “one of the biggest gainers in the second half” of 2010.Click here for more on NVIDIA.Oddly, Jabil’s stock took a 15% hit over the first two quarters of the year, even though the company’s June 22 earnings report showed a business that is firing on all cylinders. The problem? Too much exposure to Europe – as much as 31% of Jabil’s production ends up on the Continent – and that has sent investors running. According to the company, though, there has been no slowdown in business there. So that collective freak-out was all for naught. And as Europe comes back, Cramer said, so should JBL. Investors might consider buying the stock now given how cheap it is.Click here for more on Jabil Circuit.The catalyst for this stock’s rebound will most likely be study that Range Resource conducted on its drilling practices that flew in the face of environmentalists everywhere. Hydraulic fracturing, or fracking, is a process by which natural-gas drillers like RRC use large amounts of water with some chemical additives to boost production, and there had been concerns from both environmentalists and the Environmental Protection Agency that it could contaminate drinking water – even though there never been any documented cases of that contamination.Well, Range Resources in July disclosed that , for its Marcellus shale wells, 99.86% of its drilling fluid consists of water and sand, with just 0.14% comprising highly diluted chemicals. RRC was the first company to “open its books,” so to speak, in this way, and RRC rallied accordingly.“I think maybe this the beginning of a major turn in the stock,” Cramer said.Click here for more on Range Resources.This health-care company lost 11.4% of its value this year, in part, because of its exposure to Europe – 24% of the company's sales come from the Continent. But Cramer thinks this will become less of an issue in the second half of the year, as CEO Miles White has vowed to take a conservative stance on European business.Cramer also likes the pharmaceutical company's range of drugs and little exposure to generics. Its flagship product, Humira, is a psoriasis drug and anti-inflammatory, which makes up 35% of the company's sales and is growing by 20%.The Abbott Park, Ill.-based company is also making "savvy" acquisitions in emerging markets, including India, which is an $8 billion pharmaceutical market that's expected to double in size by 2015. Plus, the company boasts a 3.6% dividend yield and, for the last 38 years, has increased its payout every year. 2010 should be no different, Cramer said, because it's growing earnings at 11% annually, which is twice the pace of other pharmaceuticals.Click here for more on Abbott Labs.This West Chester, Ohio-based steel company struggled in the first half of the year, posting a 37% decline year-to-date. Cramer didn't like this stock at first because it's not a vertically-integrated steel maker, meaning it doesn't have its own mines and needs to buy its primary raw materials. In other words, AK Steel's operating costs were very high.But Cramer thinks this stock could be poised for a turnaround, as those costs have since plummeted. He also likes the company's management, who reduced the employee headcount by 30% while maintaining the same production capacity. At the same time, the company has used more than $2 billion of internally generated cash to shore up its balance sheet. It has also managed to muddle through the recession without selling equity, issuing debt or cutting its small dividend, which has a 1.4% yield.Click here for more on AK Steel.

2021-10-30 14:11:27.267245

What Apple’s $100 Billion Really Means

https://www.cnbc.com/2012/01/25/what-apples-100-billion-really-means.html

2012-01-25T20:27:04+0000

John Carney

CNBC

Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank.

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<div class="group"><p>Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.</p><p>Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Apple officials said the company is discussing ways to use the cash.  There’s some speculation that they could use it to build out the supply chain, lending money to their suppliers to bolster productivity, or perhaps increase their investment in Apple TV. </p><p>Many investors, of course, would like the see the company pay a dividend. But the low multiple to earnings suggests that the market doesn’t see this in the offing. </p><p>The main problem with a company that has accumulated a huge amount of cash is the temptation to do something foolish with it. Acquisitions, for instance, tend to increase when companies find themselves with an abundance of cash.  This seems unlikely in the case of Apple, since there appears to be few acquisition opportunities that wouldn’t raise antitrust concerns. </p><p>What most people do not appreciate about cash is that it is a strategic asset. Cash holdings might appear to do nothing in good times, but when credit constricts or markets wobble — and usually these things happen together — he who lives with the most cash wins. </p><p>It's tempting to think of Apple's cash hoard as a shield it can hide behind in tough times. But that's not quite right. It's more like a sword — a weapon to strike against weaker rivals. </p><div style="height:100%" class="lazyload-placeholder"></div><p>Companies with large cash holdings are reliably able to capture market share from cash-constrained competitors. Where the cash-poor competitors are forced to cut costs, reduce marketing and slow expansion if consumer demand slows, the cash rich can pour even more resources into hiring, marketing and development. They can use a crisis as an opportunity. </p><p>This is competition at its bloodiest. You can see why so many of the other top tech companies — such as Google and Microsoft — are also accumulating cash. They are all attempting to assure that if global markets take a downturn, they can keep flying high. </p><p><strong><em>Questions? Comments? Email us at</em></strong></p><p><strong><em>Follow John on Twitter @ twitter.com/Carney</em></strong></p><p><strong><em>Follow NetNet on Twitter @ twitter.com/CNBCnetnet</em></strong></p><p><strong><em>Facebook us @ </em></strong></p></div>

Apple’s jaw-dropping announcement that it had nearly $100 billion in cash on hand at the end of the last quarter has many people scrambling for ideas about what Apple should do with all that loot.Apple said this week it ended the last quarter and the year with $97.6 billion in cash, to be exact — much of it held overseas for tax purposes. By comparison, that's twice as much cash as Google, which ended the year with $44.6 billion in the bank. Apple officials said the company is discussing ways to use the cash.  There’s some speculation that they could use it to build out the supply chain, lending money to their suppliers to bolster productivity, or perhaps increase their investment in Apple TV. Many investors, of course, would like the see the company pay a dividend. But the low multiple to earnings suggests that the market doesn’t see this in the offing. The main problem with a company that has accumulated a huge amount of cash is the temptation to do something foolish with it. Acquisitions, for instance, tend to increase when companies find themselves with an abundance of cash.  This seems unlikely in the case of Apple, since there appears to be few acquisition opportunities that wouldn’t raise antitrust concerns. What most people do not appreciate about cash is that it is a strategic asset. Cash holdings might appear to do nothing in good times, but when credit constricts or markets wobble — and usually these things happen together — he who lives with the most cash wins. It's tempting to think of Apple's cash hoard as a shield it can hide behind in tough times. But that's not quite right. It's more like a sword — a weapon to strike against weaker rivals. Companies with large cash holdings are reliably able to capture market share from cash-constrained competitors. Where the cash-poor competitors are forced to cut costs, reduce marketing and slow expansion if consumer demand slows, the cash rich can pour even more resources into hiring, marketing and development. They can use a crisis as an opportunity. This is competition at its bloodiest. You can see why so many of the other top tech companies — such as Google and Microsoft — are also accumulating cash. They are all attempting to assure that if global markets take a downturn, they can keep flying high. Questions? Comments? Email us atFollow John on Twitter @ twitter.com/CarneyFollow NetNet on Twitter @ twitter.com/CNBCnetnetFacebook us @

2021-10-30 14:11:27.460836

US Treasurys lower as investors focus on data, monitor Russia-US relations

https://www.cnbc.com/2017/07/31/us-treasurys-lower-as-investors-focus-on-earnings-monitor-russia-us-relations.html

2017-07-31T19:31:48+0000

Silvia Amaro

CNBC

U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.The yield on the benchmark 10-year Treasury notes sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.

cnbc, Articles, Bonds, U.S. 10 Year Treasury, U.S. 2 Year Treasury, U.S. 5 Year Treasury, iShares Core U.S. Aggregate Bond ETF, Vanguard Total Bond Market Index Fund ETF Shares, Markets, source:tagname:

<div class="group"><p>U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.</p><p>The yield on the benchmark <a href="https://www.cnbc.com/quotes/US10Y">10-year Treasury notes</a> sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.</p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>A monthly index of signed contracts to purchase existing homes <a href="https://www.cnbc.com/2017/07/31/june-pending-home-sales-edge-up-1-point-5-percent-but-spring-market-stalled.html">increased 1.5 percent in June compared to May</a>, and May's figure was revised slightly higher, according to the National Association of Realtors.</p><p>Also on the data front, manufacturing activity across Texas rose at a faster pace in July than in June, according to the Federal Reserve Bank of Dallas's production index. The Dallas Fed's production index, a key measure of manufacturing conditions in the state, rose 11 points to 22.8, while its general business activity index edged higher to 16.8.</p><p>The White House dramas continued in the afternoon after <a href="https://www.cnbc.com/2017/07/31/trump-removes-anthony-scaramucci-from-communications-director-role-ny-times.html">President Donald Trump removed newly-appointed Anthony Scaramucci</a> as communications director. The decision came at the request of John Kelly, the president's new chief of staff, according to the New York Times.</p><p>On Friday, the Kremlin has told the United States it needs to cut 755 of its staff members in Russia and further measures could be taken as a result of new sanctions against the Moscow.</p><p>In commodity markets, prices hit a two-month high on Monday morning as the U.S. considers sanctions against Venezuela. <a href="https://www.cnbc.com/quotes/@LCO.1.S">Brent</a> was trading higher at $52.62 and <a href="https://www.cnbc.com/quotes/CRUD-GB">WTI</a> stood at $50.15.</p></div>

U.S. government debt prices were lower on Monday morning as investors monitored U.S.-Russia relations and digest new earnings reports.The yield on the benchmark 10-year Treasury notes sat at 2.291 while the yield on the 30-year Treasury bond was slightly higher at 2.894 percent. Bond yields move inversely to prices.A monthly index of signed contracts to purchase existing homes increased 1.5 percent in June compared to May, and May's figure was revised slightly higher, according to the National Association of Realtors.Also on the data front, manufacturing activity across Texas rose at a faster pace in July than in June, according to the Federal Reserve Bank of Dallas's production index. The Dallas Fed's production index, a key measure of manufacturing conditions in the state, rose 11 points to 22.8, while its general business activity index edged higher to 16.8.The White House dramas continued in the afternoon after President Donald Trump removed newly-appointed Anthony Scaramucci as communications director. The decision came at the request of John Kelly, the president's new chief of staff, according to the New York Times.On Friday, the Kremlin has told the United States it needs to cut 755 of its staff members in Russia and further measures could be taken as a result of new sanctions against the Moscow.In commodity markets, prices hit a two-month high on Monday morning as the U.S. considers sanctions against Venezuela. Brent was trading higher at $52.62 and WTI stood at $50.15.

2021-10-30 14:11:27.787573

Market Anxiety Hits Transports, Russell 2000, Nasdaq

https://www.cnbc.com/2012/04/16/market-anxiety-hits-transports-russell-2000-nasdaq.html

2012-04-16T16:44:20+0000

Bob Pisani

CNBC

Apple as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, oil prices hit a 10-month high as we closed out that month.That was the first non-confirmation that got bears going.

cnbc, Articles, Commodity markets, U.S. dollar, Broadcom Inc, NASDAQ Composite, Netflix Inc, Reliance Steel & Aluminum Co, Seagate Technology Holdings PLC, Apple Inc, Futures & Commodities, U.S. Dollar, DOW 30, Markets, U.S. Markets, Market Insider, Trader Talk, source:tagname:CNBC US Source

<div class="group"><p><strong>Apple</strong> as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, <a href="https://www.cnbc.com/futures-and-commodities/">oil prices</a> hit a 10-month high as we closed out that month.</p><p>That was the first non-confirmation that got bears going. </p></div>,<div class="group"><div style="height:100%" class="lazyload-placeholder"></div><p>Then, as we moved into a new quarter in April, it was noted that the small-cap Russell 2000 began underperforming the S&amp;P 500. It is a modest underperformance (down 4.7 percent for the month vs. the down 2.9 percent S&amp;P underperformance) but it too has been seized upon by bears as a sign that U.S. growth — even with modest expectations of 2.5 percent GDP growth — may be moderating. </p><p>Now, the Nasdaq — which has dramatically outperformed the S&amp;P 500 all year (up 14.5 percent vs. 8.7 percent), is underperforming — but only for today. Volume on the Nasdaq is slightly higher than normal. </p><p>It's not just Apple , plenty of other companies like Seagate, Broadcomm and even Netflix have turned in stellar performances this year. </p><p>I know everyone is worried about AAPL down 5 days in a row, but this is the first day the Nasdaq has significantly underperformed. </p><p>It's a sign of the power of AAPL that even a one-day drop has traders wondering. </p><div style="height:100%" class="lazyload-placeholder"></div><p>This is tricky. Apple, by traditional valuation metrics, is not overpriced. But the investor concentration in the name, along with a 50 percent runup in a little more than three months, has got many nervous. </p><p>And the bears have noted for weeks that estimates — and price targets — for AAPL have continued to climb. </p><p>Glass half empty? Economic data very mixed this morning: positive retail sales, but the Street is concentrating on the lower than expected housing and Empire Manufacturing figures. </p><p>The National Association of Home Builders Sentiment Index got an unusual amount of commentary this week, largely because of this comment from Chief Economist David Crowe: "Interest expressed by buyers in the past few months has yet to translate into expected sales activity." </p><p>Not all negative news: Reliance Steel   this morning increased its Q1 guidance to $1.50, well above prior guidance of $1.22-$1.40 and above consensus of $1.29. CEO David Hanna attributed the higher guidance to better pricing and "somewhat stronger" demand. RS is primarily a U.S.-based producer; their core business operates service centers that distribute metal products all over the U.S. </p><p>_____________________________<br><strong><em>Bookmark CNBC Data Pages:</em></strong><br></p><ul><li><a href="https://www.cnbc.com/dow-30/">The Dow 30 — in Real Time</a></li><li><a href="https://www.cnbc.com/futures-and-commodities/">Oil, Gold, Natural Gas Prices Now</a></li><li><a href="https://www.cnbc.com/us-dollar/">US Dollar, Minute by Minute</a></li></ul><p>_____________________________</p><p><em>Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. </em></p><p><em>Questions?  Comments?  <a href="mailto:tradertalk@cnbc.com" class="webresource" target="_blank">tradertalk@cnbc.com</a></em></p></div>

Apple as a non-confirmation? It started in the middle of February: Transports failed to keep advancing with the Industrials. At the time, the failure was blamed on higher fuel prices; indeed, oil prices hit a 10-month high as we closed out that month.That was the first non-confirmation that got bears going. Then, as we moved into a new quarter in April, it was noted that the small-cap Russell 2000 began underperforming the S&P 500. It is a modest underperformance (down 4.7 percent for the month vs. the down 2.9 percent S&P underperformance) but it too has been seized upon by bears as a sign that U.S. growth — even with modest expectations of 2.5 percent GDP growth — may be moderating. Now, the Nasdaq — which has dramatically outperformed the S&P 500 all year (up 14.5 percent vs. 8.7 percent), is underperforming — but only for today. Volume on the Nasdaq is slightly higher than normal. It's not just Apple , plenty of other companies like Seagate, Broadcomm and even Netflix have turned in stellar performances this year. I know everyone is worried about AAPL down 5 days in a row, but this is the first day the Nasdaq has significantly underperformed. It's a sign of the power of AAPL that even a one-day drop has traders wondering. This is tricky. Apple, by traditional valuation metrics, is not overpriced. But the investor concentration in the name, along with a 50 percent runup in a little more than three months, has got many nervous. And the bears have noted for weeks that estimates — and price targets — for AAPL have continued to climb. Glass half empty? Economic data very mixed this morning: positive retail sales, but the Street is concentrating on the lower than expected housing and Empire Manufacturing figures. The National Association of Home Builders Sentiment Index got an unusual amount of commentary this week, largely because of this comment from Chief Economist David Crowe: "Interest expressed by buyers in the past few months has yet to translate into expected sales activity." Not all negative news: Reliance Steel   this morning increased its Q1 guidance to $1.50, well above prior guidance of $1.22-$1.40 and above consensus of $1.29. CEO David Hanna attributed the higher guidance to better pricing and "somewhat stronger" demand. RS is primarily a U.S.-based producer; their core business operates service centers that distribute metal products all over the U.S. _____________________________Bookmark CNBC Data Pages:The Dow 30 — in Real TimeOil, Gold, Natural Gas Prices NowUS Dollar, Minute by Minute_____________________________Want updates whenever a Trader Talk blog is filed? Follow me on Twitter: twitter.com/BobPisani. Questions?  Comments?  tradertalk@cnbc.com

2021-10-30 14:11:27.936603

Phoenix Suns add another partnership, pairing up with Fanatics

https://www.cnbc.com/2021/05/11/phoenix-suns-partners-with-fanatics-in-new-merchandise-deal.html

2021-05-11T12:30:01+0000

Jabari Young

CNBC

The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner PayPal for payment options for consumers.Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold. The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the top three clubs on the list, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season."We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of $12.8 billion, up from $6.2 billion last August. And in February, it started its Fanatics China operation, joining investment firm Hillhouse Capital.Fanatics expects its China operation will be worth over $1 billion.The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, Verizon acquired the naming rights to the Suns' new $45 million practice center.The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told CNBC in April the naming rights slot is gaining interest."We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.

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<div class="group"><p>The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.</p><p>Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner <a href="//www.cnbc.com/quotes/PYPL" target="_blank">PayPal</a> for payment options for consumers.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold.</p><p> The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the <a href="https://www.nba.com/news/lebron-james-lakers-lead-nba-merchandise-sales-1st-half-2020-21" target="_blank">top three clubs on the list</a>, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season.</p><p>"We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.</p><p>Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of <a href="https://www.cnbc.com/2021/03/24/fanatics-valuation-doubles-to-12point8-billion-after-new-funding-round.html">$12.8 billion</a>, up from $6.2 billion last August. And in February, it started its <a href="https://www.cnbc.com/2021/02/25/fanatics-pairs-with-hillhouse-capital-to-start-china-based-operation.html">Fanatics China</a> operation, joining investment firm Hillhouse Capital.</p><p>Fanatics expects its China operation will be worth over $1 billion.</p><div style="height:100%" class="lazyload-placeholder"></div><p>The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.</p><p>Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, <a href="//www.cnbc.com/quotes/VZ" target="_blank">Verizon</a> acquired the naming rights to the Suns' new $45 million practice center.</p><p>The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told <a href="https://www.cnbc.com/2021/04/29/suns-owner-robert-sarver-matures-club-is-back-in-nba-playoffs-for-first-time-in-a-decade-.html">CNBC in April</a> the naming rights slot is gaining interest.</p><p>"We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."</p><p><em>Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.</em></p></div>

The Phoenix Suns announced Tuesday it will partner with sports merchandise company Fanatics.Fanatics will oversee the Suns' online, mobile and in-venue team shops at Phoenix Suns Arena in what is labeled an "omnichannel retail partnership." Fanatics will also control e-commerce operations for the Suns' sister team, the Mercury of the Women's National Basketball Association, and collaborate with team jersey patch partner PayPal for payment options for consumers.Fanatics said the deal is "long-term" but didn't provide financial details. In such agreements, National Basketball Association clubs usually provide Fanatics with a percentage of net revenue from merchandise sold. The NBA said the team ranks in the top half of merchandise sales but didn't respond to messages seeking where the team exactly ranks. The Los Angeles Lakers, Brooklyn Nets and Golden State Warriors are the top three clubs on the list, which ranks the most popular team merchandise for the first half of the NBA's 2020-21 season."We're really excited about the collaborative approach and the future innovations that we'll create together," Ed O'Brien, Fanatics senior vice president of business development, said in a statement announcing the Suns deal.Fanatics now operates 13 NBA clubs. In March, the company raised $320 million in new funding, giving it a valuation of $12.8 billion, up from $6.2 billion last August. And in February, it started its Fanatics China operation, joining investment firm Hillhouse Capital.Fanatics expects its China operation will be worth over $1 billion.The Suns are preparing for the NBA's postseason for the first time in a decade. The team is currently sitting second in the Western Conference with a 48-20 record.Business partnerships are accumulating now that the club is back in contention. The Suns announced an alliance with FanDuel to capitalize on Arizona's decision to allow mobile wagering. And last November, Verizon acquired the naming rights to the Suns' new $45 million practice center.The team has a significant asset open with its arena name, though. The Suns completed upgrades to their downtown complex via a $230 million project with the help of city funding. Suns CEO Jason Rowley told CNBC in April the naming rights slot is gaining interest."We're making sure we pick the right partner, and it's a good fit for the partner and us," he said. "These are long-term relationships that need to be mutual and beneficial."Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.

2021-10-30 14:11:27.972702

Financial planner: Here's when you should temporarily stop saving for retirement during the pandemic

https://www.cnbc.com/2020/03/18/when-to-temporarily-stop-saving-for-retirement-during-the-pandemic.html

2020-03-18T16:17:43+0000

Kathleen Elkins

CNBC

As the coronavirus spreads across the United States, American life has come to a halt: schools are closing, sports leagues are suspended, events are canceled and officials from major cities are announcing restrictions on restaurants and bars.Some Americans are already out of work and millions could end up losing their jobs in a potential recession.While financial advisors typically encourage setting aside at least a small portion of your income for the future, ideally 10-15%, now may be the time to scale back or stop contributing to retirement-specific accounts if you don't have cash savings to fall back on. If you don't have three to six months' worth of expenses saved in an emergency fund, "temporarily stop contributing to retirement accounts," Nick Holeman, certified financial planner at Betterment, tells CNBC Make It. Take the money you'd normally save for retirement and put it into an account for emergencies. Pausing retirement contributions "is not ideal," he emphasizes, "but this will be a short-term change. Commit to start contributing again once you are back on your feet."

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2021-10-30 14:11:28.011539

Instead of shunning Saudi Arabia after Khashoggi killing, investors flock to $7.5 billion bond sale

https://www.cnbc.com/2019/01/10/saudis-first-dollar-bond-sale-since-khashoggi-killing-is-a-success.html

2019-01-10T20:04:07+0000

Tom DiChristopher

CNBC

Saudi Arabia raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident Jamal Khashoggi incited an international uproar.Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.While some business executives have cut ties with the kingdom over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco will issue bonds in the second quarter of this year. The debt will most likely be issued in dollars, he said.WATCH: Turkish foreign minister says Saudis have heard Khashoggi killing audio

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<div class="group"><p><a href="https://www.cnbc.com/id/10000304">Saudi Arabia</a> raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident <a href="https://www.cnbc.com/search/?query=Jamal%20Khashoggi">Jamal Khashoggi</a> incited an international uproar.</p><p>Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.</p><div style="height:100%" class="lazyload-placeholder"></div><p>Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.</p><p>While some business executives have <a href="https://www.cnbc.com/2018/10/17/khashoggi-crisis-threatens-to-alienate-foreign-firms-remaking-saudi-economy.html">cut ties with the kingdom</a> over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.</p><p>The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.</p><p>Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.</p><p>U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.</p><div style="height:100%" class="lazyload-placeholder"></div><p>On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco <a href="https://www.cnbc.com/2019/01/10/saudi-arabia-plots-new-path-to-long-delayed-aramco-ipo.html">will issue bonds</a> in the second quarter of this year. The debt will most likely be issued in dollars, he said.</p><p><strong>WATCH: </strong><a href="https://www.cnbc.com/video/2018/12/16/turkish-foreign-minister-saudis-have-heard-khashoggi-killing-audio.html">Turkish foreign minister says Saudis have heard Khashoggi killing audio</a></p></div>,<div class="group"></div>

Saudi Arabia raised $7.5 billion in its first dollar bond sale since the killing of Saudi dissident and U.S. resident Jamal Khashoggi incited an international uproar.Khashoggi's killing sparked concerns that international investors would shun the kingdom. Saudi Arabia is prosecuting several agents and officials allegedly involved in the slaying at the Saudi Consulate in Istanbul.Riyadh denies that Saudi Crown Prince Mohammed bin Salman was involved in the murder, but the CIA has reportedly concluded that the king-in-waiting was complicit in the killing.While some business executives have cut ties with the kingdom over the incident, bond buyers do not appear ready to overlook an investment opportunity in Saudi Arabia, the world's largest oil exporter.The issuance was nearly four times oversubscribed, with the order book peaking at $27.5 billion, according to the Saudi Ministry of Finance.Saudi Arabia sold $4 billion in 10-year notes that mature in 2029, and $3.5 billion in in 31-year notes that come due in 2050.U.S.-based investors accounted for 40 percent of the 2029 bond purchases and 45 percent of the 2050 debt, according to Reuters.On Wednesday, Saudi Energy Minister Khalid al-Falih said state-owned oil giant Aramco will issue bonds in the second quarter of this year. The debt will most likely be issued in dollars, he said.WATCH: Turkish foreign minister says Saudis have heard Khashoggi killing audio

2021-10-30 14:11:28.125581