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AI Is Booming, But Not For These Stocks …Yet 2024-05-31 13:49:00+00:00 - Key Points AI is booming, but mega-cap blue-chip techs like NVIDIA, MSFT, and ORCL see the biggest gains. Growth is forecasted but is less than the analysts expected, which undercuts the outlook for MongoDB and UiPath. Dell analysts would have liked better results but are raising their price targets and leading the market higher. 5 stocks we like better than Dell Technologies AI is booming, but not for stocks like MongoDB NASDAQ: MDB, UiPath NYSE: PATH, and Dell Technologies NYSE: DELL, which are all thought to be well-positioned for the industry. The caveat is that AI is dominated by a few mega-cap tech companies, which are seeing the most gains. AI is aiding growth for these companies, but AI is still in its early phases, and the NVIDIA-like boom has yet to materialize. NVIDIA NASDAQ: NVDA, the leader in AI because of its chips and full-stack approach, will lead the industry long into the future. Others, like Microsoft NASDAQ: MSFT, Micron NASDAQ: MU, and Oracle NYSE: ORCL, are well-positioned because of their offerings and scale. They have the position, reach, and financing to meet the demand. The problem for MongoDB, UiPath, and Dell, to a lesser extent, is that they are better positioned for the second wave of AI, which is yet to come. Get Dell Technologies alerts: Sign Up Weak Guidance Undercuts Solid Results for Tech Stocks MongoDB Today MDB MongoDB $236.06 -73.94 (-23.85%) 52-Week Range $225.25 ▼ $509.62 Price Target $374.29 Add to Watchlist Results from MongoDB, UiPath, and Dell echo details from Salesforce NYSE: CRM, which reported solid growth, impressive margin, and growth guidance, but the guidance is weak and undercut the outlook. That’s bad news because the outlook was inflated. All three produced solid reports, outperforming their consensus targets, but cited a slow-down in activity at the start of the year that impacted the guidance. All have guided for growth but have set targets for Q2 and FY 2024 that are below the analysts' consensus, and there is a risk that the slowdown will persist and lead to another reduction later this year. Among the details impacting the guidance is increased CAPEX plans. Dell, in particular, is ramping up spending on AI to prepare for expected growth in its server, networking, and devices segments. Its servers and networking business is already trending at record levels, with backlogs growing by double-digits, so it should sustain growth this year and next. MongoDB and UiPath focus on client growth, innovation, and new products. MongoDB is well-positioned for the proliferation of AI-empowered apps and services that are expected to blossom over the next three to five years, UiPath for the business automation revolution that is already underway. Operational quality is a highlight for these companies. There was margin pressure across the board, but all performed better than expected and drove significant cash flow and FCF. Dell’s report was the worst, with earnings contracting compared to last year, but CAPEX mitigated the decline. MongoDB and UiPath reported increased FCF, which aided balance sheet improvement and set them up to provide long-term shareholder value. Analysts Reset the Outlook for MongoDB, UiPath, and Dell The analysts are resetting the outlook for these stocks, and the activity shows a glaring difference. Many UiPath and MongoDB analysts have come out to cut their targets, while only two analysts have revised their Dell outlook, which are positive revisions. The takeaway for MDB and PATH investors is that analysts view these stocks as Moderate Buys with a double-digit upside potential relative to the new lows. UiPath Today PATH UiPath $12.26 +0.19 (+1.57%) 52-Week Range $11.71 ▼ $27.87 Price Target $19.59 Add to Watchlist The caveat is that analysts lowered their targets by more than 30% on average for MDB and PATH, leading the market to the low end of the range. This is a significant headwind for their markets and will not likely be overcome soon. MongoDB has the added headwind of an overinflated P/E running in the triple-digit range ahead of its report: UiPath the weight of a sudden and unexpected CEO change. The upshot with that news is that founder and chief innovation officer Daniel Dines will retake the helm. Analysts Lead Dell Higher: Shares Fall 15% Dell Technologies Today DELL Dell Technologies $139.56 -30.36 (-17.87%) 52-Week Range $44.45 ▼ $179.70 Dividend Yield 1.28% P/E Ratio 28.48 Price Target $135.81 Add to Watchlist Dell shares are down 15% in premarket trading, but the analysts' activity suggests a quick rebound. The analysts issued numerous price target increases before the release, and the trend continued. Marketbeat is tracking two revisions within the first twelve hours, both with higher price targets. They agree on a $155 price target, $20 above the $135 consensus, and at the low end of the recent range. The targets issued in May suggest this stock should trade between $155 and $185, a 10% to 30% upside from $143. Before you consider Dell Technologies, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Dell Technologies wasn't on the list. While Dell Technologies currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

5 Unexpected AI Innovators Transforming Their Sectors 2024-05-31 13:39:00+00:00 - Key Points Companies across different sectors leverage AI to innovate and enhance their operations and customer experiences. Several companies are making significant strides with AI, including these five companies leveraging AI unexpectedly: NKE, SOFI, DE, NFLX, and TSLA. Deere & Company, for example, has employed AI to conserve agricultural chemicals, provide data-driven insights to farmers, and introduced a fully autonomous tractor. 5 stocks we like better than Netflix As the artificial intelligence (AI) revolution continues gaining momentum, companies across various sectors embrace AI technologies to enhance operations, improve customer experiences, and drive innovation. Leading the charge is NVIDIA Corp. NASDAQ: NVDA, whose remarkable performance, up 130% year-to-date, underscores the transformative power of AI. While NVIDIA's leadership in AI might be well-known, several other companies, some surprising, are also making significant strides with AI. Get Netflix alerts: Sign Up Here are five companies that are leveraging AI in unexpected ways. SoFi Technologies, Inc. SoFi Technologies Today SOFI SoFi Technologies $6.90 -0.01 (-0.14%) 52-Week Range $5.59 ▼ $11.70 Price Target $9.08 Add to Watchlist SoFi Technologies, Inc. NASDAQ: SOFI, an internet-based financial institution, is integrating AI to enhance its banking services. The company uses the conversational AI engine from its Galileo fintech platform to improve customer satisfaction, response times, and overall business efficiency. AI is also crucial in SoFi's fraud detection, automated investment portfolio management, and instant loan approvals. Despite being down 31% year-to-date, analysts hold a hold rating with a forecasted 32% upside based on the consensus price target, reflecting optimism about SoFi's AI-driven future. Netflix, Inc. Netflix Today NFLX Netflix $641.62 -6.04 (-0.93%) 52-Week Range $344.73 ▼ $664.25 P/E Ratio 44.53 Price Target $632.00 Add to Watchlist Netflix, Inc. NASDAQ: NFLX, a streaming giant needing no introduction, has seen its stock soar, up 33.9% year-to-date and 18% this month alone. The company uses AI extensively to personalize user experiences, enhance content quality, and optimize operations. Netflix's AI algorithms recommend shows and movies based on user preferences and viewing history, helping maintain high user engagement. Additionally, AI assists in content categorization, strategic decision-making, post-production processes, and customer service through chatbots. Analysts are bullish on Netflix, with a moderate buy rating from 35 analysts, bolstered by the company's impressive 70% rise over the past year. Deere & Company Deere & Company Today DE Deere & Company $374.76 +6.41 (+1.74%) 52-Week Range $345.55 ▼ $450.00 Dividend Yield 1.57% P/E Ratio 11.28 Price Target $432.92 Add to Watchlist Deere & Company NYSE: DE, a leader in agricultural, construction, and forestry equipment, is down 8.3% year-to-date but is actively adopting AI to revolutionize its industry. The company's AI-powered See & Spray product helps farmers reduce herbicide use, while AI algorithms provide data-driven insights to improve farming decisions. Deere's introduction of a fully autonomous tractor marks a significant leap in agricultural innovation. Analysts are optimistic about Deere's AI initiatives, forecasting an 18.08% upside with a moderate buy rating, signaling potential growth despite current market challenges. Nike, Inc. NIKE Today NKE NIKE $95.05 +1.60 (+1.71%) 52-Week Range $88.66 ▼ $123.39 Dividend Yield 1.56% P/E Ratio 27.96 Price Target $116.26 Add to Watchlist Nike, Inc. NYSE: NKE, renowned for its sportswear and athletic footwear, is leveraging AI to transform customer experiences and operational efficiencies. AI-driven technologies enhance shoe fitting accuracy, personalize offers, and support virtual assistants. Nike employs advanced analytics and AI strategies in its supply chain to boost speed, accuracy, and sustainability. Although the stock is down almost 14% year-to-date, analysts predict a 24.7% upside with a moderate buy rating. Nike's commitment to AI underscores its ongoing innovation and customer engagement efforts. Tesla, Inc. Tesla Today TSLA Tesla $178.08 -0.71 (-0.40%) 52-Week Range $138.80 ▼ $299.29 P/E Ratio 45.43 Price Target $185.90 Add to Watchlist Tesla, Inc. NASDAQ: TSLA is at the forefront of AI-driven autonomous vehicle technology. The company's AI systems use a network of sensors and cameras to monitor surroundings and make real-time driving decisions, powering features like Autopilot and Full Self-Driving (FSD). Tesla's AI extends to battery management and navigation, enhancing the driving experience. Known for its revolutionary approach, Tesla continues to lead the charge in AI adoption within the automotive industry, underscoring its role as an innovator in intelligent driving technology. The Bottom Line for These AI Innovators The rise of AI is not confined only to the tech giants; companies across diverse sectors are harnessing AI to drive innovation and improve operations. From SoFi's AI-driven financial services to Deere's AI-powered service, these five companies exemplify AI's broad and transformative impact. Investors should watch these surprising AI plays, recognizing the potential for growth and further innovation as the AI revolution continues to unfold and expand. Before you consider Netflix, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Netflix wasn't on the list. While Netflix currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Dell Falls After AI Server Sales Fail to Impress Investors 2024-05-31 05:18:00+00:00 - (Bloomberg) — Dell Technologies Inc. fell about 18% in extended trading after its first revenue increase since 2022 wasn’t enough to impress investors with high expectations for the company’s AI server business. Most Read from Bloomberg Sales increased 6.3% to $22.2 billion in the period ended May 3, the Round Rock, Texas-based company said Thursday in a statement. Analysts, on average, estimated $21.6 billion. Profit, excluding some items, was $1.27 a share, compared with the average projection of $1.23. Revenue from Dell’s powerful servers equipped to handle artificial intelligence tasks more than doubled from the previous quarter to $1.7 billion, Chief Operating Officer Jeff Clarke said in the statement. The backlog for those machines increased more than 30% quarter-over-quarter to $3.8 billion, he added. Dell expects the momentum from AI demand will continue through the year, Chief Financial Officer Yvonne McGill said on a conference call after the results were released. The company raised its revenue outlook for the fiscal year ending in February 2025 to a range of $93.5 billion to $97.5 billion, an 8% increase at the mid-point, which would top analysts’ average estimate of a 7% gain. Adjusted profit will be about $7.65 a share, compared with the $7.70 average estimate. But that excitement around AI demand for Dell’s machines raised expectations for Thursday’s results, Woo Jin Ho, an analyst at Bloomberg Intelligence, said in an interview on Bloomberg Television after the report was released. The shares dropped to a low of $138.15 in extended trading after closing at $169.92 in New York. Dell’s stock has more than tripled over the past 12 months as investors have viewed the hardware maker as a beneficiary of demand for artificial intelligence. Large corporations increasingly need high-powered servers to train and run demanding generative AI tasks, which are sold by Dell and few other companies. “Results weren’t bad, but expectations were very high, and the numbers weren’t strong enough to spur further near-term upside,” wrote analysts at Vital Knowledge. For its better-known business of selling personal computers, Dell reported $12 billion in revenue, little changed from the same period a year earlier. Sales of business PCs increased 3% to $10.2 billion, surprising analysts who expected a 2% drop. Story continues The PC market had seen a historic decline over the last two years after many consumers, businesses and schools purchased laptops in the early months of the pandemic. In the first quarter, shipments picked up 1.5% — the first increase since the end of 2021 — industry analyst IDC said in April. PC-makers have been hopeful those numbers signaled the end of the slump and that growth would accelerate in 2024 with the launch of machines equipped with a new version of Microsoft Corp.’s Windows software as well as hardware equipped with chips to handle artificial intelligence tools. Dell’s primary PC competitor, HP Inc., reported signs of a recovering computer market Wednesday, sending its shares up 17% on Thursday. Like Dell, HP reported a bump in sales among its business customers rather than consumers. Total sales at Dell’s infrastructure unit, which includes servers and networking and storage equipment, jumped 22% to $9.2 billion. (Updates with outlook in the fifth paragraph.) Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

Stock market today: Dow extends slide as Salesforce plunges, rate jitters rattle tech 2024-05-31 05:13:00+00:00 - US stocks endured more losses on Thursday as lingering concerns about higher-for-longer interest rates and a Salesforce (CRM) sell-off dampened investors' spirits. The Dow Jones Industrial Average (^DJI) sank nearly 0.9%, or more than 350 points, after shedding over 400 to lead Wednesday's stock market slide. The S&P 500 (^GSPC) fell 0.6%, while the tech-heavy Nasdaq Composite (^IXIC) dropped about 1%. Stocks have lost steam amid renewed gloom about the odds for rate cuts, stoked by data showing less cooling in inflation than the Federal Reserve wants. At the same time, hopes that Nvidia's (NVDA) blockbuster earnings would spur a broader stock rally were disappointed. Leading the way down on the corporate front Thursday was Salesforce (CRM), whose results sparked other worries about likely losers in the AI boom. The software maker's shares slid nearly 20% after it said sales growth would stall to the slowest in its history, its most significant decline since 2004. Meanwhile, new government data showed that the US economy grew at a slower pace than initially thought during the first quarter. The Bureau of Economic Analysis's second estimate of first quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 1.3% during the period, down from a first reading of 1.6% growth in April. On deck for investors is a key inflation reading Friday. The Personal Consumption Expenditures Price Index, which includes the Fed's closely watched "core" PCE measure, will offer potential clues on the path of interest rates less than two weeks ahead of the Fed's next meeting. Read more: How does the labor market affect inflation?

Why Is UiPath Stock Crashing, and Is It a Buying Opportunity? 2024-05-31 05:01:00+00:00 - Fool.com contributor Parkev Tatevosian reviews UiPath (NYSE: PATH) stock and answers if the dip is a buying opportunity for long-term investors. *Stock prices used were the afternoon prices of May 29, 2024. The video was published on May 30, 2024. Should you invest $1,000 in UiPath right now? Before you buy stock in UiPath, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and UiPath wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $703,539!* Stock Advisor provides investors with an easy-to-follow blueprint for success, including guidance on building a portfolio, regular updates from analysts, and two new stock picks each month. The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of May 28, 2024 Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends UiPath. The Motley Fool has a disclosure policy. Parkev Tatevosian is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool. Why Is UiPath Stock Crashing, and Is It a Buying Opportunity? was originally published by The Motley Fool

Costco Q3 earnings beat all key metrics, after shares closed at an all-time high 2024-05-31 04:48:00+00:00 - Costco (COST) posted another bulk-sized quarter as consumers look for wallet-friendly prices on everyday essentials. On Thursday afternoon, the company reported net sales of $58.52 billion, compared to estimates of $57.98 billion. Its adjusted earnings of $3.78 also beat estimates of of $3.70. Same-store sales, excluding fuel, jumped 6.5%, led by its growing international business (up 8.5%), Canada (up 7.4%), and the US (up 6%). In the quarter, the wholesale retailer saw foot traffic go up year over year, beating the likes of Sam's Club (WMT) and BJ's Wholesale Club (BJ), according to Placer.ai. E-commerce is also a bright spot, surpassing expectations of an 11.5% year-over-year bump with a 20.7% increase. In the previous quarterly report, digital sales grew more than 18% year over year, which was powered by demand for gold bars, silver, and appliances, former Costco CFO Richard Galanti said then on the earnings call. Membership fees, a key revenue stream, came in line with estimates at $1.12 billion, a 7.6% increase compared to last year. A Costco Gold Star membership costs $60 per year, while an Executive Membership goes for $120. Some on the Street predicted last year that Costco would raise fees this summer. Shares of Costco are up 25% year to date, outpacing the S&P 500's (^GSPC) 10% gain, and closed at a record high prior to reporting its fiscal Q3 results on Thursday. "We continue to believe a premium valuation is warranted, given Costco's superior global unit growth prospects, leading competitive position, and track record of driving share gains," Oppenheimer analyst Rupesh Parikh wrote in a note to clients prior to the report, adding that "management can unlock even more shareholder value over time through driving alternative revenue streams." JPMorgan analyst Christopher Horvers wrote that the company's stock continues to benefit from a higher income audience, along with a long history of consistent market share gain. Wall Street is eager to hear how non-food categories like the jewelry department (including gold bars) performed, along with traditional strength from fresh food, led by meat and produce. This comes as consumers are looking for value in groceries. In April, grocery prices jumped 1.1% compared to last year but dropped 0.2% compared to March, per the US Bureau of Labor Statistics. A family moves through the checkout lane with its groceries at a Costco Wholesale store on Nov. 13, 2023, in Colchester, Vermont. (Robert Nickelsberg/Getty Images) (Robert Nickelsberg via Getty Images) The earnings rundown: Here's what Costco posted in its fiscal third quarter earnings, compared to Wall Street estimates: Net sales: $58.52 billion versus $57.98 billion Adjusted EPS: $3.78 versus $3.70 Story continues Total company comparable sales, excluding fuel: 6.5%, compared to 5.93% US same-store sales growth: 6% versus 5.51% Canada same-store sales growth: 7.4% versus 6.96% Other international: 8.5% versus 7.46% E-commerce growth: 20.7% versus 11.5% Membership fees: $1.12 billion versus $1.12 billion — Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. Click here for all of the latest retail stock news and events to better inform your investing strategy

US Is Slowing AI Chip Exports to Middle East by Nvidia, AMD 2024-05-31 04:28:00+00:00 - (Bloomberg) -- US officials have slowed the issuing of licenses to chipmakers such as Nvidia Corp. and Advanced Micro Devices Inc. for large-scale AI accelerator shipments to the Middle East, according to people familiar with the matter, while officials conduct a national security review of AI development in the region. Most Read from Bloomberg It’s unclear how long the review will take, nor is there a concrete definition of what constitutes a large shipment, said the people, who asked not to be identified because the discussions are private. Officials are particularly focused on high-volume sales, the people said, as countries including the United Arab Emirates and Saudi Arabia look to import massive quantities of the chips used in AI data centers. AI accelerators — a category pioneered by Nvidia — help data centers process the flood of information needed to develop artificial intelligence chatbots and other tools. They’ve become essential equipment for companies and governments seeking to build an AI infrastructure. In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE. US officials have delayed or not responded to license applications submitted under that rule in the past several weeks, some of the people said. That includes attempts to sell to customers in the UAE, Saudi Arabia and Qatar, according to one of the people. In addition to Nvidia and AMD, Intel Corp. and startup Cerebras Systems Inc. also make accelerator chips. The four companies declined to comment. The goal is to give Washington time to develop a comprehensive strategy around how the advanced chips will be deployed overseas, according to the people. That includes negotiating who manages and secures the facilities used to train AI models, some of the people said. Shares of Nvidia slipped to a low for the day after Bloomberg reported on the license reviews. At the close in New York, the stock was down 3.8% to $1,105. AMD, meanwhile, pared earlier gains. It was up less than 1% to $166.75. Story continues In a statement, the Commerce Department said its highest priority was “protecting national security.” “With regards to the most cutting edge technologies, we conduct extensive due diligence through an interagency process, thoroughly reviewing license applications from applicants who intend to ship these advanced technologies around the world,” a representative for the department said. “As always, we remain committed to working with our partners in the Middle East and around the world to safeguard our technological ecosystem.” Thea Kendler, who leads export administration at the Commerce Department, visited the UAE, Saudi Arabia, Qatar and Kuwait earlier this month as part of those ongoing discussions. In the UAE, she indicated that there was progress in collaboration on semiconductor export controls, another person familiar with the matter said. Part of the concern is that Chinese companies, which are largely cut off from cutting-edge American technology themselves, could access those chips through data centers in the Middle East. The Biden administration has been waging a broader campaign to keep advanced semiconductors and manufacturing equipment out of China’s hands, for fear that the technology will be used to bolster its military. The UAE and Saudi Arabia have been jockeying for regional leadership in AI, aiming to reduce their economies’ dependence on oil. Both countries see the US as a key partner in that effort, and top officials and companies have said they’ll fulfill US requests to keep Chinese supply chains separate — or divest from Chinese technology entirely. Meanwhile, Saudi Arabia just forged a deal with China’s Lenovo Group Ltd. that involves the computer maker building a research and development center in Riyadh. Read More: Lenovo Forges Saudi Pact With $2 Billion Convertibles Issue The ability to secure export licenses is a major part of negotiations surrounding Microsoft Corp.’s $1.5 billion investment in Abu Dhabi AI firm G42 — a partnership that followed months of talks with US officials. --With assistance from Nick Wadhams. (Updates shares in seventh paragraph.) Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

Marvell Tech misses first-quarter revenue estimates on weak enterprise demand 2024-05-31 04:12:00+00:00 - (Reuters) -Chipmaker Marvell Technology missed Wall Street expectations for first-quarter revenue on Thursday, hurt by weak client spending in its wireless carrier and enterprise markets. The company reported revenue of $1.16 billion, compared with estimates of $1.17 billion, according to LSEG data. Shares of the Santa Clara, California-based company fell around 2% in extended trading. Marvell's results signal that the company continues to grapple with weaker demand in its consumer markets as well as a cut back on IT spend by its enterprise clients due to signs of a soft economy. "We see a favorable setup for the second half of this fiscal year, driven by continued growth in data center and the beginning of a recovery in enterprise networking and carrier infrastructure," Marvell CEO Matt Murphy said. Excess chip inventory at its carrier clients and telecom operators have prompted them to clear their built-up stock and withhold on placing new chip orders, hitting demand for firms like Marvell. The company forecast second-quarter revenue in line with analysts' estimates. It also sees adjusted earnings per share of 29 cents, plus or minus 5 cents, compared with estimates of 30 cents. However, the company's data center segment, which includes its custom chips business, continues to outperform as cloud computing firms shore up spending on hardware used to power artificial intelligence. Data center revenue jumped 87% to $816.4 million, higher than estimates of $772.6 million. Revenue in the enterprise networking segment fell 58% to $153.1 million, while the company's carrier infrastructure unit declined 75% to $71.8 million. On an adjusted basis, the company earned 24 cents per share, compared with estimates of 25 cents. (Reporting by Zaheer Kachwala in Bengaluru; Editing by Maju Samuel)

Thinking Of Buying AT&T For Its 6.5% Dividend Yield? Consider This Alternative Option 2024-05-31 03:50:00+00:00 - Thinking Of Buying AT&T For Its 6.5% Dividend Yield? Consider This Alternative Option Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. For income-focused investors, AT&T Inc. (NYSE:T) has long been a staple in dividend portfolios. With a forward dividend yield of 6.48% and a payout ratio of just 47.03%, the telecom giant appears to offer an attractive combination of high yield and sustainability. However, before rushing to buy shares of AT&T, it’s worth considering an alternative option that could potentially provide an even better short-term income play. It’s true that AT&T has a strong history of consistent dividend growth, having raised its payout for 38 consecutive years until 2022 when it cut its quarterly dividend from $0.52 to $0.2775 per share following the spinoff of its media assets. But things are looking up for the company, with improved performance suggesting that dividend increases could resume in the near future. AT&T’s Q1 2024 earnings release highlighted solid 5G and fiber customer additions, profitable growth driven by increased Mobility service and broadband revenues, and a significant year-over-year increase in free cash flow. The company also reaffirmed its full-year financial guidance, projecting 3% wireless service revenue growth, 7%+ broadband revenue growth, and free cash flow in the $17-$18 billion range. Analysts seem to agree that AT&T is on the right track. The last three analyst ratings, released by Barclays, Scotiabank, and RBC Capital between April 11 and April 29, 2024, have an average price target of $19.83, implying a 15.51% upside from current levels. So, with a juicy 6.5% yield, improving fundamentals, and bullish analyst sentiment, AT&T looks like a tempting buy for dividend investors. However, there’s one key factor to consider before pulling the trigger: the looming specter of a potential U.S. recession. Many economists and market watchers believe that the U.S. economy is nearing a downturn, which could negatively impact stock prices across the board – even for relatively defensive names like AT&T. If a recession does materialize, there could be a better opportunity to scoop up shares of AT&T at an even more attractive valuation down the road. An Alternative High-Yield Opportunity In the meantime, income investors might want to consider an alternative option: Basecamp Alpine Notes. This short-term cash management tool, offered by real estate investing platform EquityMultiple, targets a compelling 9% yield with a brief 3-month term and a low minimum investment of just $1,000. The beauty of Basecamp Alpine Notes is that they allow investors to earn a high yield on their cash while maintaining the flexibility to redeploy that capital when better opportunities arise – such as a potential recession-driven dip in AT&T’s stock price. Rather than locking up funds in AT&T shares today, investors could park their cash in Basecamp Alpine Notes, earn a 9% annualized return, and then have dry powder ready to fire when the time is right. Story continues Basecamp Alpine Notes also offer a level of simplicity and predictability that can be appealing in uncertain economic times. With zero fees and monthly compounding, investors know exactly what return they can expect over the 3-month term. And with a strong track record of meeting all payment obligations, EquityMultiple has built a reputation as a reliable partner for income-seeking investors. Visit EquityMultiple's website to learn more about Basecamp Alpine Notes. Of course, no investment is without risk, and Basecamp Alpine Notes are no exception. As with any investment, it’s crucial to do your own due diligence and carefully consider how the notes fit into your overall financial plan. But for investors who are eyeing AT&T’s 6.5% dividend yield and wondering if now is the right time to buy, Basecamp Alpine Notes offer a compelling alternative – a way to generate high short-term income while keeping your options open for future opportunities. In a market full of uncertainty, that kind of flexibility can be invaluable. This article Thinking Of Buying AT&T For Its 6.5% Dividend Yield? Consider This Alternative Option originally appeared on Benzinga.com

Feds say 13-year-old girl worked at Hyundai plant in Alabama 2024-05-30 22:56:00+00:00 - The U.S. Department of Labor is suing South Korean auto giant Hyundai Motor Co., an auto parts plant and a recruiting company after finding a 13-year-old girl illegally working on an assembly line in Alabama. The agency filed a complaint Thursday in U.S. District Court for the Middle District of Alabama to require that Hyundai, SMART Alabama, an auto parts company, and Best Practice Service, a staffing agency, relinquish any profits related to the use of child labor. The move comes after federal investigators found a 13-year-old girl working up to 50 to 60 hours a week on an assembly line in Luverne, Alabama, operating machines that turned sheet metal into auto body parts, the Labor Department said. The child worked at the facility over a period of six to seven months, and "instead of attending middle school, she worked on an assembly line making parts," the legal document stated. "A 13-year-old working on an assembly line in the United States of America shocks the conscience," Jessica Looman, the DOL's wage and hour division administrator, said in a statement. The Korean automaker is liable for repeated child labor violations at SMART Alabama, one of its subsidiaries, between July 11, 2021, through Feb. 1, 2022, according to the department. The child was allegedly dispatched to work at the component parts provider by Best Practice, it said. According to the complaint, SMART told the staffing firm that "two additional employees were not welcome back at the facility due to their appearance and other physical characteristics, which suggested they were also underage." "Companies cannot escape liability by blaming suppliers or staffing companies for child labor violations when they are in fact also employers themselves," Seema Nanda, solicitor of the Labor Department said in a news release. Hyundai did not immediately respond to a request for comment. However, a spokesperson told other media outlets including the Washington Post that the Labor Department is attempting to impose "an unprecedented legal theory that would unfairly hold Hyundai accountable for the actions of its suppliers and set a concerning precedent for other automotive companies and manufacturers." The case marks the first time the labor department has sued a major company for allegedly violating child labor law at a subcontractor, and stems from a government probe and separate Reuters report that unveiled widespread and illegal use of migrant child laborers at suppliers of Hyundai in Alabama. Reuters reported in 2022 that children as young as 12 were working for a Hyundai subsidiary and in other parts suppliers for the company in the Southern state. The wire service reported on underaged workers at Smart after the brief disappearance in February 2022 of a Guatemalan migrant child from her family's home in Alabama. The 13-year-old girl and two brothers, 12 and 15, worked at the plant in 2022 and were not going to school, sources told Reuters at the time. The Labor Department in fiscal 2023 investigated 955 cases with child labor violations involving 5,792 kids nationwide, including 502 employed in violation of hazardous occupation standards. Some minors have suffered serious and fatal injuries on the job, including 16-year-old Michael Schuls, who died after getting pulled into machinery at a Wisconsin sawmill last summer. Another 16-year-old worker also perished last summer after getting caught in a machine at a poultry plant in Mississippi.

What to know about the purported theft of Ticketmaster customer data 2024-05-30 22:49:00+00:00 - A cybercriminal group claims it has stolen personal data belonging to more than 500 million Ticketmaster customers. Although the event ticketing service, owned by Live Nation Entertainment, hasn't confirmed the attack, security experts warn that it could put users of the platform at risk for a range of scams. The hackers, called ShinyHunters, said in an online forum that they have gained access to Ticketmaster customers' information and that they plan to sell the data. But Jared M. Smith, an engineer at SecurityScorecard, a company that monitors computer network breaches across the internet, cautioned that it remains to be seen if the theft is real. "It's still not verified. We don't know whether the hackers that posted it are making this up or not, that's something we're waiting for," he said. "It could be part of a publicity stunt." Here's what to know about what kind of data might have been exposed, as well as how to protect yourself. What is ShinyHunters? The hacking group emerged in 2020 and drew attention the following year when it exposed huge troves of customer records from more than 60 companies. According to the Department of Justice, the ShinyHunters stored and sold stolen data on the "dark web," including customer databases with personal and financial information. Members of the group also used social media to solicit potential buyers for the for data, including sometimes notifying the media about their exploits and posting images on a website appearing to show stolen material. Targets included a range of companies and millions of consumers. Sebastien Raoult, a French computer hacker and ShinyHunters member, in January was sentenced to three years in prison and ordered to pay more than $5 million in restitution after pleading guilty to conspiracy to commit wire fraud and aggravated identity theft. ShinyHunters may not have hacked Ticketmaster, and instead could effectively be serving as a middleman by selling the customer data, experts noted. The group's post said the data was available for purchase for $500,000 in a "one-time sale." How many people may have been affected? ShinyHunters said it has obtained personal data belonging to 560 million Ticketmaster customers. Although that would rank as one of the largest cyberthefts of all time, one expert said that some of the info the group claims to have stolen was likely already publicly available. "The reality is there are a lot of records missing, and it sounds really bad. But from a practical standpoint, how many people had information stolen that isn't out there already? A lot of it is public record," cybersecurity expert Joseph Steinberg told CBS MoneyWatch. "From the raw data itself, there's probably a lot less than it sounds like. We sometimes get impressed by numbers, but what matters much more is the quality of the data and what it means." What kind of information was purportedly exposed? ShinyHunters said it obtained the full names of Ticketmaster customers addresses, phone numbers, partial credit card details, and order and transaction info. CBS News reviewed 52 email addresses that were posted by ShinyHunters and found they were connected to individuals in several U.S. states, as well as in Canada and New Zealand, CBS News' Erielle Delzer reported. Many of the addresses were linked to TicketMaster accounts, while the names of current and former employees of the event platform were also included in the leak. "It's a lot of information you don't often see together," Smith said. Often hackers just get usernames and passwords, and sometimes payment information. But you don't often see addresses and past purchases, and all of that together would make quite a perfect set up for a group to put up sites that look like Ticketmaster sales partners to target consumers they know have purchased event tickets before," he told CBS MoneyWatch. "This breach would prey on a really easy target audience to scam people into buying fake tickets," Smith added. What is Ticketmaster doing about the alleged attack? Nothing, yet. The company has not verified the purported cyberattack. It didn't immediately respond to a request for comment. The Australian government said Thursday it is investigating the hacking group's claims. The FBI has offered assistance to Australian authorities, a spokesperson for the U.S. Embassy in Canberra told Agence France-Presse. "The Australian Government is aware of a cyber incident impacting Ticketmaster," a spokesperson for the Australia Home Affairs Department said in a statement to CBS News. "The National Office of Cyber Security is engaging with Ticketmaster to understand the incident." The department also urged people with "specific inquiries relating to this incident" to contact Ticketmaster. What should Ticketmaster users do now? First, and crucially, consumers should assume that they are at risk of being hacked, Steinberg said, emphasizing the need for people to have the right mindset. For example, a consumer who believes they're being targeted by hackers will think twice before clicking on a link offering them concert tickets to their favorite band from an unknown entity. "You have to internalize the fact that you are a target. People who believe they are targeted behave differently than people who don't believe that," he said. Regarding Ticketmaster, Smith urged consumers not to click on links to concert ticket sales they don't recognize and to call the service's support line to verify any offers. "Someone who doesn't think they're targeted would say, 'Wow, this is great, not thinking they got the data from the Ticketmaster breach and social engineered it," Steinberg said. More generally, Steinberg recommended that people use two-factor authentication to protect their accounts. —CBS News' Erielle Delzer contributed to this report.

Trump slams trial as 'rigged, disgraceful' after he is found guilty on all counts 2024-05-30 22:31:00+00:00 - Former U.S. President Donald Trump arrives to court for his hush money trial at Manhattan Criminal Court in New York City on May 30, 2024. Former President Donald Trump called his criminal hush money trial a "disgrace" on Thursday, after a New York jury found him guilty on all 34 criminal counts of falsifying business records. "This was a rigged, disgraceful trial," Trump told reporters outside the courtroom in Manhattan Supreme Court. "I'm a very innocent man," Trump said. "And it's OK, I'm fighting for our country, I'm fighting for our Constitution. Our whole country is being rigged right now." With the jury's unanimous verdict, Trump became the first former U.S. president ever to be convicted of a crime. "The real verdict is going to be November 5, by the people," Trump said, referring to the day of the presidential election. "They know what happened here, and everybody knows what happened here." Trump is expected to appeal his historic verdict after he is sentenced on July 11, but legal experts say there is no chance he will overturn his conviction prior to Election Day. This is breaking news. Please check back for updates.

Just graduated from college? Follow these job-hunting tips from a career expert. 2024-05-30 22:24:00+00:00 - Most of the 4 million students who are graduating from college in the U.S. this year will face a challenging labor market as they search for their first jobs. On the bright side, 32% of all the job openings posted on LinkedIn are for entry-level positions, meaning suitable for candidates with little or no work experience. For young job seekers, meanwhile, the mission will be to stand out from the crowd both on paper and in job interviews. "The first thing is have an open mind. The job market is going to be a little bit tough. So what you may have thought your career path was going to be right out the gate may change," LinkedIn career expert Catherine Fisher told CBS News. That means freshly minted grads should consider positions in a variety of fields and geographic locations, she noted. Another top tip Fisher offered is one that applies no matter the market conditions. "You also want to really work on that network," she said. "Network should be your full-time job until you get a job. But never give up on networking, even when you get that job." While graduates who are just beginning their careers may not have many professional contacts, reaching out to professors, coaches and even classmates is a good way to get started. More generally, when it comes to entering the working world, grads should get comfortable with the idea that they'll be doing many things for the first time, Fisher said. "You're going to have to write your first resumé, you're going to have your first interview, you're going to have so many firsts, it's going to be challenging. Get used to it." Being open-minded and adopting what Fisher called a "growth mindset" can also go a long way in any job hunt. Your first job doesn't have to be a perfect fit; rather it could be a stepping stone to something better. Not surprisingly, employers are increasingly looking for candidates with artificial intelligence skills, or at the very least comfort level working with AI tools. "We hear it all the time," she said. Be flexible on location By contrast, grads shouldn't necessarily pin their hopes on landing a job in New York City, San Francisco or other major cities. "Maybe you're going to end up in Arizona. Tucson is hiring a lot, so we're seeing lots of entry-level jobs there," Fisher said. She identified Gainesville and Tallahassee, both in Florida, as other hot spots for entry level jobs at large employers. As far as interviewing tips, Fisher advised focusing on your strengths, not your weaknesses. "A lot of these companies will give you the training, and your skills are probably transferrable. So make sure you're really playing up the skills that you have that they're looking for," Fisher said. And practice, practice, practice. "Be really creative in terms of that storytelling. Get your story down pat, practice with friends," Fisher said. "Think about how do you communicate that you're a great communicator."

Saudi Aramco offers nearly $11.5 billion in new stock for sale 2024-05-30 22:22:00+00:00 - The logo of Aramco is seen as security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. Saudi Arabia's state-controlled Aramco said it would sell some $11.5 billion worth of additional stock in an offering that begins Sunday, as Riyadh tackles pressure to raise funds for an array of wide-ranging projects aimed at diversifying its fossil fuel-based economy. Aramco will offer 1.545 billion shares in a price range between 26.70 and 29 Saudi riyals per share, according to a company filing. At the midpoint of that range, the sale would total nearly $11.5 billion. The sale represents a follow-on offering, after Aramco initially entered the public markets in 2019 and raised $29.4 billion in the world's largest ever initial public offering. Questions have risen over the long-term profitability of the legacy oil and gas giant amid a broader global transition to green energy and decarbonization. In January this year, Aramco halted previous plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels, in a move that Saudi Energy Minister Abdulaziz bin Salman later pinned on the energy transition. Aramco has been focusing on gas and hydrogen, as part of a plan to widen its production streams. In the short term, Aramco's appeal to investors comes by way of its dividend yield, which stood at 6.6% on May 30, according to Factset data — compared to 4.2% at Chevron and 3.3% at ExxonMobil. Aramco lifted its base dividend for the fourth quarter to $20.3 billion, and boosted its performance-linked dividend to $10.8 billion. A further offering from Aramco, the historical backbone of Saudi Arabia's finances, would still barely dent the infrastructure costs of the kingdom's Vision 2030 economic diversification program, spearheaded by Crown Prince Mohammed bin Salman in 2016. Just one of the giga projects under the plan, the futuristic eco-city of Neom, is estimated to come with a $500 billion price tag. Saudi Arabia owns more than 82% of Aramco prior to the sale, the Wall Street Journal has reported. — CNBC's Spencer Kimball contributed to this report

Trump has been convicted — but that may not weigh down his White House bid. Here's why 2024-05-30 22:10:00+00:00 - Donald Trump is now the first former American president ever to be convicted in a criminal trial — but it's far from clear whether that black mark will sink, or even weigh down, his bid to unseat President Joe Biden. Recent polls suggest that the guilty verdict could affect how key voting blocs view Trump, the presumptive Republican presidential nominee. But any change may not be enough to change the trajectory of the presidential race, according to the latest poll finding that only a small fraction of non-Democratic voters would be less likely to vote for Trump if he is found guilty in the hush money trial. Nearly three-fourths of registered independents said that a guilty verdict against Trump would make no difference to their vote, according to the survey from NPR/PBS NewsHour/Marist released Thursday morning. Just 11% of those respondents said that outcome would make them less likely to back Trump in November, while 15% of the group said a guilty verdict would more them more likely to support him. Among Republicans, 25% said they will be more inclined to vote for Trump if he is found guilty in New York, versus 10% who say they will be less likely to do so. Those answers echo the results of a recent Quinnipiac University poll, in which just 6% of Trump voters said they would be less likely to vote for him if convicted, while nearly a quarter said they would be more likely to vote for him. However, 23% of independent registered voters in that poll said a Trump conviction would make them less likely to back him. "It's a strange situation where a criminal conviction probably makes little difference" politically, said Erik Gordon, a professor at the University of Michigan's Ross School of Business, in an interview. Most people on either side of the political spectrum have already made up their minds about Trump, the professor explained. "The only thing that could hurt trump at this point would be if somebody has a TikTok of him kicking a cat," he quipped. Compared with a Politico Magazine/Ipsos poll in March — which found 36% of independents would be less likely to vote for a convicted Trump — the more recent survey results suggest a decline in the potential impact of the hush money verdict. On the one hand, the poll findings indicate that the outcome of Trump's trial ultimately will not sway the vast majority of voters. But in a consistently tight race with two well-known candidates targeting a small-but-important slice of swing voters, any shift in opinion resulting from the guilty verdict could have an outsize effect. Still, few events in the unusual presidential rematch have so far made a clear, measurable impact on the state of the contest. Despite being weighed down by numerous lawsuits, dozens of criminal charges, and a regular stream of scandals and gaffes, national polling trackers show Trump is in an extremely close national race with Biden and leading slightly in key battleground states. Biden's White House and reelection campaign, meanwhile, have been dogged by consumer woes about inflation — consistently one of voters' top concerns — despite their efforts to spread a more positive message about the growing U.S. economy. NPR/PBS NewsHour/Marist polled 1,261 U.S. adults from May 21 to May 23 with a margin of error of 3.4 percentage points. For the 907 registered voters polled who definitely plan to vote in the Nov. 5 election, the margin of error rises to 4.1 percentage points. Quinnipiac polled 1,374 registered U.S. voters from May 16 to May 20, with a margin of error of 2.6 percentage points. This Politico Magazine/Ipsos poll of 1,024 U.S. adults was conducted March 8 to March 10. It has a margin of error of 3.3 percentage points.

Trump has been convicted. Here's what happens next 2024-05-30 22:05:00+00:00 - watch now A New York jury on Thursday found Donald Trump guilty on 34 felony counts of falsifying business records in an effort to conceal a hush money payment made to a porn star ahead of the 2016 presidential election. Politically, the unprecedented criminal conviction of a former U.S. president — and presumptive major-party presidential nominee — plunges the nation into uncharted waters, as the Republican continues his campaign against President Joe Biden. But legally, Trump's next moves are easier to predict. Here's what could happen next: Former US President Donald Trump returning to the courthouse moments before hearing that the jury had a verdict in his criminal trial in New York State Supreme Court in New York, New York, USA, 30 May 2024. Justin Lane | Via Reuters Sentencing schedule After delivering its verdict, the jury is dismissed. The case then moves to the sentencing phase, a process largely controlled by Judge Juan Merchan. The judge before adjourning Thursday afternoon set Trump's sentencing date for July 11 at 10 a.m. ET. He ordered parties in the case to file motions by June 13. The parties are expected to submit sentencing memos — in which each side presents arguments in favor of its preferred punishment — and other court filings. Trump will also likely sit for an interview with a probation officer for a pre-sentence report. The interview will likely include questions about Trump's personal history and criminal record. The responses will be incorporated into a pre-sentence report for the judge, which includes sentencing recommendations for Merchan to consider. Trump's attorneys may try to push his sentencing date later — possibly even after the Nov. 5 presidential election. But Merchan is unlikely to grant such a delay without a good reason, New York City defense lawyer Michael Bachner said. In the meantime, Trump will be free to speak to the press, travel and continue his presidential campaign. He will also no longer be bound by the gag order that barred him from discussing witnesses, jurors and the judge's family members, among others. Potential punishments — including jail The charges against Trump are Class E felonies, the least serious category under New York law. Each count carries a maximum sentence of four years in prison. Trump's sentence could include fines and restitution, probation or other conditions — but a sentence of imprisonment is not off the table. Merchan has broad discretion to determine Trump's sentence, and he can factor all sorts of things into his final decision. Some of those factors, such as Trump's age of 77 and his lack of a prior criminal record, will likely weigh in Trump's favor. But Trump's conduct during the trial could also factor into Merchan's ultimate decision. That could be a problem for the former president, who publicly attacked the judge and accused him of political bias throughout the trial. The judge also previously accused Trump of trying to "intimidate" the court, prompting an expansion of the gag order that Trump would later violate 10 times. "Trump's violation of the gag orders, his vilification of the court process, of the judge, or of the prosecution — all that is fair game" for Merchan to consider, Pace Law School Professor Bennett Gershman told CNBC. A lesser sentence is likely Experts tend to think it is highly unlikely that Trump will face any jail time as a result of the hush money verdict. "I'd be shocked" if Trump is sentenced to jail, Bachner said. He added that a sentence of probation would be normal for the average defendant convicted of the same crime. Merchan has made clear throughout the trial that he is mindful of Trump's unique political status, and he has previously expressed reluctance to put the ex-president behind bars. After Trump was held in contempt on May 6 for repeatedly violating his gag order, Merchan said punishing him with jail time was "the last thing I want to do." "You are the former president of the United States, and possibly the next president as well," Merchan told Trump at the time, adding that he worried about both the logistics "and the broader implications" of jailing him. Gershman told CNBC that a jail sentence is "certainly plausible," and that it "would not be out of bounds" for Merchan to sentence Trump to some time behind bars. But he acknowledged that, due to the immense and complex challenges of incarcerating a former president, the judge might instead opt for a sentence of house arrest. "This case goes to the heart of our democracy, according to the judge," Gershman said. "He views this case as very, very serious." Can Trump still run for president?

Can Trump still run for president after being convicted? Yes. 2024-05-30 21:52:40+00:00 - Former President Donald Trump was convicted on 34 felony counts in New York. Now a convicted felon, he is also the presumptive Republican nominee for president in 2024. A presidential candidate can still run for office despite being convicted of a crime. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Donald Trump is now officially a convicted felon. But can he still become president? Short answer: Yes, according to the Constitution. A New York jury convicted the former president on 34 felony counts on Thursday, reigniting a wave of questions about what it means for his 2024 presidential campaign. A presidential candidate can, indeed, still run for office despite being convicted of a crime, according to the US Constitution.

Costco says it's not ready to raise its $60 membership fee — for now 2024-05-30 21:48:08+00:00 - Costco isn't ready to raise its membership fee, but says it's still a matter of when, not if. The wholesale club last raised fees in 2017, and about every five years before that. Membership fees represent more than half the company's operating income. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Costco is once again kicking the can on raising its membership fee. But don't expect it to stay that way. "I would really kind of revert back to some of the comments that Richard shared previously," CFO Gary Millerchip told investors Thursday, referring to his predecessor, Richard Galanti, who said last year that a Costco membership fee increase would "happen at some point." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Is Trump going to jail? Ex-president's odds of lockup over his felony convictions are slim to none, legal experts say 2024-05-30 21:44:09+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview The chances of Donald Trump spending any time behind bars after a jury found Trump guilty on all counts in his New York hush-money trial are slim to none, legal experts told Business Insider. The jury in Trump's historic trial found him guilty on Thursday of 34 felony counts of falsifying business records to cover up a $130,000 hush-money payment to adult film actor Stormy Daniels. A sentencing hearing is expected in July, and the president can still appeal the verdict. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Manhattan District Attorney Alvin Bragg could technically seek to lock up Trump during sentencing, given that felony falsifying of business records allows a sentence of anywhere from zero jail time up to a maximum of four years in prison. But first-time offenders virtually never go to jail for these kinds of non-violent, low-level felonies. Prosecutors can also ask for other penalties — including a hefty fine, community service, and probation. Advertisement "I can't say for absolute 100% certainty there can't be jail because on the books, he can go to jail," said high-profile defense attorney and former Brooklyn prosecutor Arthur Aidala. But, Aidala said, "I do not see a scenario where Donald Trump spends one minute in jail." Aidala and other defense attorneys told Business Insider that it is beyond rare for a defendant in New York to get locked up on a non-violent, first-offense, E-level felony. Related stories "In New York State and in particular New York County, it is extraordinarily rare for a 70-something-year-old man, first arrest, who was convicted of a low-level non-violent felony to be incarcerated," said Mark Bederow, a defense attorney and former prosecutor for the Manhattan district attorney's office. Advertisement But Bederow noted that there is "no comparison" to this "unprecedented" case as Trump — a frontrunner in the 2024 presidential election. "If there was anyone who would be incarcerated over this type of crime, it would be an elected official," said former Manhattan prosecutor, Jeremy Saland, now a lawyer in private practice. "That said, to think for a moment that Trump is going to be incarcerated? That would shock me, for practical reasons and for reasons of allowing anger and divisiveness to fester." Aidala said that Bragg — a Democrat who has instructed prosecutors in his office to only seek jail or prison time for the most serious of crimes — "would lose all credibility in the entire legal community" if his prosecutors sought to put Trump behind bars. "It would be so beyond normal," Aidala said. "It would fly in the face of everything that [Bragg's] doing in that office, which is to try and keep people out of jail." Advertisement Bederow predicted there would even be Trump detractors who would speak out to say incarcerating him is "dangerous" and a "bad precedent." Defense attorneys told Business Insider that besides jail time, prosecutors could try to impose a large fine, community service, or probation on the former president. Aidala said if prosecutors "really want to embarrass" the former president "they may ask for community service." Any kind of community service would likely be "private," so Trump couldn't be "out there cleaning a park or picking up garbage," Aidala said.

Trump Can Proceed With Lawsuit Against His Niece, Court Rules 2024-05-30 21:43:51+00:00 - Former President Donald J. Trump can proceed with a lawsuit against Mary L. Trump, his estranged niece, over her role as a source for a New York Times investigation into Mr. Trump’s finances, a New York State appeals court said on Thursday. The ruling, from the Appellate Division of the State Supreme Court, was a victory for Mr. Trump, though it did not address the substance of his claim: that his niece should be held liable for breaching a confidentiality agreement when she provided financial documents to a team of Times journalists. Those documents became the basis of a series of news articles examining what The Times called Mr. Trump’s history of tax avoidance and “outright fraud.” The series received a Pulitzer Prize for explanatory reporting in 2019. Mr. Trump sued The Times in 2021 over the articles, accusing the news organization of improperly inducing his niece to provide the documents. Last year, a New York judge dismissed Mr. Trump’s claims against The Times and its journalists; the judge also ordered the former president to pay the newspaper’s legal fees.