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[ad_1] General view of the UBS building in Manhattan on June 5, 2023 in New York City. Eduardo Munoz Alvarez | View Press | Corbis News | Getty Images UBS on Thursday posted a second-quarter profit of $28.88 billion in its first quarterly earnings since Switzerland's largest bank completed its takeover of stricken rival Credit Suisse . Analysts had projected a net profit of $12.8 billion for the three months to the end of June, according to a Reuters poll. UBS said the result primarily reflected $28.93 billion in negative goodwill on the Credit Suisse acquisition. Underlying profit before tax, which excludes negative goodwill, integration-related expenses and acquisition costs, came in at $1.1 billion. Negative goodwill represents the fair value of assets acquired in a merger over and above the purchase price. UBS paid a discounted 3 billion Swiss francs ($3.4 billion) to acquire Credit Suisse in March. "Two and a half months since closing the Credit Suisse acquisition,

[ad_1] Nicolas Jammet, chief concept officer and co-founder of Sweetgreen Inc., right, eats a salad during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 18, 2021. Michael Nagle | Bloomberg | Getty Images Sweetgreen on Thursday reported a narrower-than-expected loss in its first quarter after slowing its expansion to focus on profitability. The salad chain, which went public in November 2021, is aiming to turn a profit for the first time by 2024. Last quarter, it announced it would take a more conservative approach to entering new markets. It's also cutting support-center costs and simplifying its management structure. Sweetgreen shares rose 7% in extended trading. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Loss per share: 30 cents vs. 35 cents expected Revenue: $125.1 million vs. $126 million expected

[ad_1] Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 13, 2024.  Brendan McDermid | Reuters U.S. stock futures inched higher on Wednesday night as traders looked ahead to another inflation reading. Dow Jones Industrial Average futures rose 32 points, or less than 0.1%. S&P 500 futures advanced 0.1%, and Nasdaq 100 futures climbed 0.2%. In after-hours action, trading platform Robinhood popped 10% after the company reported a 16% increase in assets under custody in February from the prior month. Troubled electric vehicle startup Fisker tumbled 46% after The Wall Street Journal reported that the company has hired restructuring advisors to prepare for a potential bankruptcy filing. These moves come after the major stock indexes ended Wednesday's session with mixed activity. A sharp decline in the technology sector — particularly as Nvidia dropped 1.1% — pulled the S&P 500 and the Nasdaq Composite lower, with the two b

[ad_1] Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. Wall Street saw some volatility Friday around Federal Reserve Chairman Jerome Powell's morning speech from the central bank conference in Jackson Hole, Wyoming. Powell said inflation is still "too high" and the Fed is "prepared to raise rates further" if economic data dictates it. No interest rate hike is expected at next month's Fed meeting, according to the CME FedWatch tool . There's a split in the market on whether we'll see one more rate hike before year-end. Currently, no action is favored. 2. The overall market remains oversold, according to Jim Cramer's trusted S & P Oscillator , but not as oversold as it was earlier in the week. We've been making strategic buys all week long. One day after a blowout quarter, we boosted on Thursday our Nvidia (NVDA) pr

[ad_1] The launch of Eli Lilly 's weight-loss drug Zepbound — a key pillar of our investment thesis in the pharmaceuticals giant — is going swimmingly in the U.S., Jefferies said Friday. Weekly Zepbound prescriptions totaled 7,700 in the week ended Dec. 8, its fourth on the U.S. market, according to Jefferies, which cited data compiled by health-care analytics firm IQVIA. That is more than Novo Nordisk 's Wegovy — currently the most popular obesity drug in the country — had in its fourth week after being approved in 2021, Jefferies concluded. "Zepbound has shown strong launch momentum in the weeks following its first prescription recorded," the analysts wrote in a research note. That's an encouraging finding for investors, given it will be more than a month before Eli Lilly reports earnings with formal revenue contributions from its much-hyped obesity drug. The Club holding typically reports fourth-quarter results in late January or early February. To be sure

[ad_1] US Secretary of State Antony Blinken (L) walks with China's Foreign Minister Qin Gang (R) ahead of a meeting at the Diaoyutai State Guesthouse in Beijing on June 18, 2023. Leah Millis | Afp | Getty Images U.S. Secretary of State Antony Blinken on Sunday met with Chinese Foreign Minister Qin Gang in Beijing on a high-stakes diplomatic mission to cool U.S.-China tensions that have overshadowed geopolitics in recent months. The trip by Blinken makes him the highest-level American official to visit China since Joe Biden became U.S. president and the first U.S. secretary of state to make the trip in nearly five years. Blinken had "candid, substantive, and constructive talks" with Qin, a U.S. State Department spokesperson said in a statement Sunday . He raised concerns as well as "opportunities to explore cooperation," and he emphasized the importance of open communication, according to the statement. "The Secretary made clear that the United States w

[ad_1] Next week is one of the biggest of the year for health-care investors, and it has historically been a good time to own ETFs that track the industry. The 2023 JPMorgan Health Care Conference is set to kick off next Monday in San Francisco. The event features keynote speeches from the CEOs of Sage Therapeutics and Eli Lilly , as well as presentations from dozens of other health-care and biotech companies. The conference typically sees many companies preannounce quarterly results, revise outlooks and update investors about clinical trials. While those updates can break both ways for individual companies, they have recently been good news for the sector as a whole. Over the past five years, many of the biggest ETFs in health care and biotech have seen an average positive return in the first half of January, when the conference is typically held. The three funds below — the SPDR S & P Biotech ETF (XBI) , the Health Care Select Sector SPDR Fund (XLV) and the iShares U.S. Medi

[ad_1] An American Airlines 777 is loaded with cargo at Philadelphia International Airport. Leslie Josephs/CNBC Airlines' cargo revenue is slumping. That's a sign of good news for travel recovery. Delta , United and American this month each reported year-over-year declines of about 40% in their second-quarter cargo revenue. For the first half of 2023, Delta's cargo business generated $381 million, down from $561 million in the first half of 2022, while American's cargo unit brought in $420 million compared with $692 million in the first six months of last year. United brought in $760 million from cargo so far this year, down from $1.2 billion a year earlier. Zoom In Icon Arrows pointing outwards Meanwhile, airlines are reporting record revenue , if not earnings , thanks to the rebound in travel demand. That means the business impact of cargo, which once helped prop up airlines' revenue during the Covid pandemic travel plunge, has faded. Cargo revenue at Unite

[ad_1] As Wall Street on Tuesday attempted to hold onto recent gains, we received positive updates on two Club holdings that are seeing outsized moves to the upside: Danaher (DHR) and Constellation Brands (STZ). DHR 1Y mountain Danaher's 1 year stock performance Danaher is set to present at the JPMorgan Healthcare Conference on Tuesday afternoon. However, ahead of the event, on Monday evening, the life sciences and medical diagnostics company released its slide deck. In addition to providing a high-level look at what the company will look like after the separation of its Environmental & Applied Solutions business, it included an upward revision to fourth-quarter guidance. Shares jumped 4% on the positive revision. Some investors were concerned that management would preannounce weak earnings. Now, management sees core sales growth up in the high single-digit range. The increase can be largely attributed to better-than-expected performance in Cepheid's molecular diagnost

[ad_1] Another disappointing quarter for Tesla served as just another speed bump for shareholders. Shares plummeted more than 12% Thursday as the Elon Musk's electric carmaker warned about slowing growth. I want to deploy an options strategy to use this emotional overreaction as an opportunity to add to my Tesla position. The slowdown, of course, was not a news flash as we have seen Lithium futures tumble 80% in the last year. However, when coupled with the second consecutive quarter that Tesla missed earning expectations, nearly $100 billion in market cap rapidly evaporated. TSLA 5Y mountain Tesla, 5 years Tesla did not help themselves in the short-term, on the conference call by removing volume guidance for 2024 since it will be notably lower. Another concerning issue is Elon is asking for a 25% voting control. He currently owns 13% but, Musk holds nearly 300 million unexercised stock options representing another 9% of Tesla's 3.2 billion shares outstanding. Thus, invest

[ad_1] MUMBAI: Benchmark indices declined in initial trade on Thursday after eight days of rally amid weak trends in the US equity markets triggered by fresh concerns over recession. IT counters took a beating in the morning trade which resulted in weak trend in the benchmark indices. The 30-share BSE Sensex fell 164.66 points to 60,228.11 in early trade. The broader NSE Nifty declined 44.45 points to 17,767.95. Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro , NTPC, Kotak Mahindra Bank and Tata Steel were among the major laggards. The country's largest IT services exporter TCS on Wednesday reported a 14.8 per cent increase in March quarter net profit at Rs 11,392 crore but flagged worries from its key market of North America. Power Grid, Bajaj Finserv , Hindustan Unilever, Nestle, State Bank of India and Maruti were among the gainers. In Asian markets, Seoul, Japan and Shanghai were trading in the green, while Hong Kong

[ad_1] CNBC's Jim Cramer called out General Electric as a winner in the industrial sector for the strides it's making in nuclear power. GE's Verona Nuclear Fuel business said Wednesday it received approval from the U.S. Nuclear Regulatory Commission to manufacture, ship, and analyze the performance of higher enrichment fuel. These "regulatory milestones" will help the company "innovate to help our customers run their plants even more efficiently and be ready to support the next generation of reactor technology," according to the press release . GE shares were trading about 2% higher on the news. GE YTD mountain GE stock performance year to date. "[General Electric] just keeps going higher," Cramer said Wednesday. While that's mainly due to demand for its aircraft engines, Cramer added that investors "love any way to be able to make nuclear fuel work." In November 2021, GE announced plans to split and form three publicly trade

[ad_1] Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Stock futures were little changed Tuesday after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Futures tied to the Dow Jones Industrial Average rose 35 points, or 0.1%. Meanwhile, S&P 500 futures traded around the flatline, and Nasdaq-100 futures dipped 0.1%. Lyft shares gained 4% in the premarket after the ridesharing company announced a new CEO and that its cofounders would step away from their day-to-day roles. PVH Corp. shares popped 12% on strong quarterly results. The moves follow a mixed session on Monday. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. The Nasdaq Composite dipped 0.47% as tech stocks moved lower. A slew of positive news reports helped lift sentiment on Wall Street, including First

[ad_1] AT&T Inc : "It's not as bad as it used to be." Plug Power Inc : "[CEO] Andy Marsh has promised us profitably for a very long time. ... My bountiful patience is beginning to get tried." Devon Energy Corp : "Keep buying." Disclaimer: Cramer's Charitable Trust owns shares of Devon Energy. Jim Cramer's Guide to Investing Click here to download   Jim Cramer's Guide to Investing  at no cost to help you build long-term wealth and invest smarter. [ad_2] Source link https://worldnews2023.com/business/cramers-lightning-round-i-like-juniper-networks/?feed_id=293300&_unique_id=65fe472c5df52

[ad_1] Federal Reserve Chairman Jerome Powell testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled The Semiannual Monetary Policy Report to the Congress, in Hart Building on Tuesday, March 7, 2023. Tom Williams | Cq-roll Call, Inc. | Getty Images When the Federal Reserve starts to raise interest rates, it generally keeps doing so until something breaks, or so goes the collective Wall Street wisdom. So with the second- and third-largest bank failures ever in the books happening just over the past few days, and worries of more to come, that would seem to qualify as significant breakage and reason for the central bank to back off. related investing news Not so fast. Even with the failure over the past several days of Silicon Valley Bank and Signature Bank that forced regulators to spring into action , markets still expect the Fed to keep up its inflation-fighting efforts. Suring bond yields played into the demise in particular of SVB as the bank fa

[ad_1] New Delhi:  Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards. HDFC Bank's valuation declined by Rs 37,848.16 crore to Rs 8,86,070.99 crore at close on Friday. The market valuation of Reliance Industries fell by Rs 36,567.46 crore to Rs 16,14,109.66 crore. The valuation of TCS tumbled Rs 36,444.15 crore to Rs 12,44,095.76 crore and that of HDFC tanked Rs 20,871.15 crore to Rs 4,71,365.94 crore. The market capitalisation (mcap) of ICICI Bank fell by R

[ad_1] A Procter & Gamble (P&G) logo is seen during the 6th China International Import Expo (CIIE) at the National Exhibition and Convention Center (Shanghai) on November 7, 2023 in Shanghai, China. VCG | Getty Images Procter & Gamble on Tuesday reported mixed quarterly earnings and revenue for its fiscal second quarter of 2024. The company also narrowed its outlook for full-year adjusted earnings per share to a range of $6.37 to $6.43, although its forecast for unadjusted earnings fell due to its plans to write down Gillette and restructure certain markets. Shares of the company rose about 1% in premarket trading. Here's what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv: Earnings per share: $1.84 adjusted vs. $1.70 expected Revenue: $21.44 billion vs. $21.48 billion expected P&G reported fiscal second-quarter net income attributable to the company of $3.47 billion, or $1.40 p

[ad_1] The consumer price index rose 3.2% from a year ago in July, a sign that inflation has lost at least some of its grip on the U.S. economy. Prices accelerated 0.2% for the month, in line with the Dow Jones estimate, the Bureau of Labor Statistics reported Thursday. However, the annual rate was slightly below the 3.3% forecast though higher than June. Excluding volatile food and energy prices so-called core CPI also increased 0.2% for the month, equating to a 12-month rate of 4.7%. The annual rate for core also was slightly below a Dow Jones consensus estimate for 4.8%. Markets reacted positively to the report, with futures tied to the Dow Jones Industrial Average up nearly 200 points and Treasury yields mostly lower. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. The BLS said more than 90% of the increase came from that category, which accounts for about one-third of the CPI weighting. Food prices incre