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Dollar Tree, Vera Bradley fall; Valero, Williams-Sonoma rise, Wednesday, 3/13/2024 2024-03-13 16:15:20+00:00 - NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Wednesday: Dollar Tree Inc., down $21.27 to $128.42. The discount retail chain will close nearly 1,000 stores and took a surprising loss in the fourth quarter. Allbirds Inc., down 18 cents to 75 cents. The footwear company gave investors a disappointing revenue forecast for the current quarter. Petco Health & Wellness Co., down 4 cents to $2.52. The pet store chain gave investors a disappointing earnings forecast. Williams-Sonoma Inc., up $42.82 to $283.87. The seller of cookware and home furnishings reported encouraging fourth-quarter financial results and raised its dividend. Vera Bradley Inc., down 95 cents to $6.16. The handbag and accessories company reported disappointing fourth-quarter earnings and revenue. Freeport-McMoRan Inc., up $3.05 to $43.41. The copper mining company gained ground along with rising prices for the base metal. Valero Energy Corp., up $7.90 to $158.63. Energy companies rose along with crude oil prices. Village Farms International Inc., down 4 cents to 70 cents. The Canadian greenhouse operator’s fourth-quarter loss was bigger than Wall Street expected.

This Freight Stock Just Got an Upgrade and Institutional Buyers 2024-03-13 13:51:00+00:00 - Key Points Shipping stocks are about to go on a massive bull run, or so do futures traders expect. Jobs are flowing to transportation, and interest rate cuts will only increase demand for shipping quotes. ZIM Integrated is the best (and cheapest) option to take advantage of the situation. 5 stocks we like better than Charles Schwab Investment houses like The Goldman Sachs Group Inc. NYSE: GS have an average winning ratio of over 85% in their trading business. You can wonder how they achieve these results, or you can rest assured that their idea-generation process relies heavily on a “top-down” analysis. Today, you will see what these professionals may be looking at. This process leads to a peaking interest in the transportation sector for reasons that will become clear shortly. By using MarketBeat’s research tools, you can start to screen for stocks in this space. Before you get in the weeds of it all and make your own selection, remember that ZIM Integrated Shipping Services NYSE: ZIM is a standout deal at a ridiculous discount today. Get Charles Schwab alerts: Sign Up With shipping and freight quotes moving, stocks like ZIM will likely see a boost in their earnings per share (EPS) coming in the following quarterly results. Being only one of many reasons to believe in the stock, you will find out why Wall Street analysts upgraded their price targets on the stock, coupled with some institutional buying. Starting at the Top For the best picture of the current economic environment, traders may look to the PMI index of ISM manufacturing. While one month of data can give you great insights, you should take more than a couple of months to tune into the market’s wave. Digging in, you will see that the transportation equipment industry has broken out of its December contraction and is now expanding for two consecutive months. Knowing that each quarterly earnings report contains results for the past three months, you can probably guess that stocks exposed to shipping (and its rising rates) can beat earnings expectations. According to employment data from the past month, the United States economy added 275,000 jobs. Out of those, 19,700 (or 7.2%) went to the transportation and warehousing industry. Now, why else would hiring managers and logistics planners go on a hiring spree if not for the expectation of busier times ahead? Now that geopolitical tensions are rising in the Hamas strip, Israel-based ZIM Integrated stock suffers from a temporary contraction. The stock trades at 89% of its 52-week high, whereas competitors like Kirby Co. NYSE: KEX and Scorpio Tankers Inc. NYSE: STNG trade at 100% and 95%, respectively. The lackluster performance definitely needs to reflect rising shipping rates today. According to futures contract data from CME Group Inc. NASDAQ: CME, traders are bidding contracts higher for May and June 2024. These expectations also align with the FedWatch tool, which is pushing for interest rate cuts priced for those same months. If the Federal Reserve (the Fed) lowers interest rates by those dates, global shipping and freight quotes will likely go as high as traders expect due to more global commerce. Screen for the Best You now know that ZIM Integrated shows a discount to competitors, but is it cheap for a reason? It is probably a hiccup due to conflicts affecting shipment routes. You will see ZIM earning some love by refreshing the list of stocks recently upgraded by analysts. Those working for Jefferies Financial Group Inc. NYSE: JEF see a valuation of up to $20 a share for ZIM. These price targets reflect a near 72% upside from the stock's current price. But valuations aren’t the only thing making ZIM the top pick in the space. These analysts expect the stock’s EPS to grow by as much as 30% over the next twelve months, significantly higher than the industry’s 14% average. Knowing that the industry trend is favorable and the global landscape is set for ZIM to likely beat its subsequent quarterly earnings, some institutional buyers have started to buy the stock. Barclays added 19.8% to its $1.1 million position in ZIM this month, but that’s not all. Charles Schwab Co. NYSE: SCHW also added 75% to its larger $2.9 million already in the stock. In a vote of confidence for industry-leading growth, these asset managers see the writing on the wall, double-digit ‘unjustified’ discounts. On a price-to-book (P/B) valuation basis, ZIM Integrated stock trades at a discount of 50% to its book, or a 0.5x ratio. On the other hand, competitors Kirby and Scorpio trade at respective 1.7x and 2.8x ratios. This spread makes ZIM a ridiculous discount based on a fear-driven market. → An Unusual Way to Invest in Gold (From Edge On The Street) (Ad) Before you consider Charles Schwab, 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 Charles Schwab wasn't on the list. While Charles Schwab currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Casey’s General Store Stock Discounted; Analysts to Raise Targets 2024-03-13 13:24:00+00:00 - Key Points Casey's General Store had a mixed quarter, with revenue falling short, but margin strength offset the miss. Capital returns are solid and expected to continue with strength in F2025. Analysts' activity is mixed but lifted the consensus target by 7.5%, leading the market to fresh highs. 5 stocks we like better than Casey's General Stores Casey’s General Store NASDAQ: CASY peaked ahead of its FQ3 release and is correcting afterward, but don’t think the sell-off will continue for long. The company’s results were tepid and mixed but revealed resiliency in a business model that has delivered value to shareholders for years. Takeaways from the results include flat revenue, better-than-expected profitability, cash flow, capital returns, and shareholder equity, which increased by 10%. The operational quality and trends leading to these results have the stock up in the 1, 3, 5, 10, and 20-year comparisons and heading higher this year and next. Get Casey's General Stores alerts: Sign Up Casey’s Mixed Quarter: No Problem for Analysts Casey’s had a mixed quarter with flat revenue missing the Marketbeat.com consensus estimate but margin, cash flow, and profits exceeding the mark. Revenue came in at $3.33 billion, flat YOY and 600 basis points short of the consensus, but this is the worst news. Revenue is driven by an increased store count and higher inside comp sales offset by lower fuel revenue. Inside comps are up 4%, 9.1% in the two-year stack, on strength in grocery and prepared foods. Prepared foods advanced 7.5% on strength in beverages and sandwiches as consumers lean into the lower-priced offerings. Gas comps were down slightly, 0.4%, compounded by lower realized pricing. Margin news is the brightest spot in the report. Inside margins were widened on sales strength and fewer hours worked, driving segment operating profits up by 11.3%. This was offset by a -2% decline in fuel profits and higher operating costs associated with more stores, leaving the GAAP earnings at $2.23. The $2.23 is down 13% YOY but $0.19 or 900 bps ahead of consensus, bolstering the capital return outlook and shareholder value. Casey’s General Store Builds Value for Investors The stock trades above the broad market average at 21X current year earnings, but you get more than average returns. The balance sheet highlights include reduced cash due to acquisitions offset by increased assets, reduced debt, and a 10% increase in shareholder equity. Cash flow is used to grow the business, repurchase shares and pay dividends, which are reliable if not robust. Share repurchases in Q3 bring the YTD share count down by 0.6% and are expected to remain solid through year-end and next year. The company spent $30 million on repurchases in the quarter and has $310 million left under the authorization. Dividends aren’t robust at 0.6%yield but are incredibly safe at 14% of earnings and growing. The company has increased its distribution annually for 24 years and is on track to make another in FQ1. Analysts Raise the Bar for Casey’s General Store Analysts' activity following the Q3 release is mixed for Casey’s, but the takeaways are bullish. The high end of the range was lowered, and the bottom raised, narrowing the range, but there were more upward revisions than down, leaving the consensus higher than before the release and 5% above the current price action. Among those raising targets are Deutsche Bank, JPMorgan Chase & Co, and RBC, which have a three-way consensus of $306, aligning with the broader consensus. Consensus is up 7.5% following the release and will likely increase as the year progresses. The technical outlook is good. This stock is in a long and sustained uptrend driven by its growth, operational quality, cash flow and dividends. The stock peaked ahead of the release and is pulling back now with potential for solid support near current levels. Assuming the market sustains support near $290, it should rebound soon and set new highs by mid-year. If not, this stock could pull back to the long-term EMA near $280 before rebounding and continuing its uptrend. → An Unusual Way to Invest in Gold (From Edge On The Street) (Ad) Before you consider Casey's General Stores, 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 Casey's General Stores wasn't on the list. While Casey's General Stores currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Has the Stock Market Priced in a Rate Cut? 2024-03-13 11:47:00+00:00 - Key Points The stock market advanced following hotter-than-expected inflation data. CPI data showed headline and core inflation accelerated compared to last year. The market priced in an interest rate cut but is mispricing when it will come. 5 stocks we like better than Costco Wholesale The stock market has absolutely, 100% priced in a rate cut. The market has been expecting a rate cut for more than a year and is, in fact, pricing in a soft landing and sustained economic growth. The question that needs to be answered is whether the market is mispricing a rate cut, and the answer to that is also yes. Estimates in late 2023 had the first interest rate cuts happening now, and the FOMC is a long way from fulfilling that hope. This means the market is setting itself up for a fall, which could be a big one. Get Costco Wholesale alerts: Sign Up The FOMC Won’t Cut Rates Before Mid-Summer The latest CPI data says the FOMC won’t cut rates until mid-summer at the earliest. The CPI data is a leading indicator for the PCE Price Index, the Fed’s favored tool to gauge consumer-level inflation, and it is hot. The CPI data for February shows headline and core a tenth hotter than expected month-to-month and year-over-year, with the YOY comps accelerating. The core YOY comp came in at 3.8%, up from 3.7%, which will not give the Fed confidence inflation is tamed. At best, the committee will hold fast while it waits for more data, and there isn’t enough time for enough data to match market expectations for when the first cut will come. The market has been pushing back its timeline for rate cuts and pushed it back again following the CPI release. The CME FedWatch Tool says there is a 0% chance for a rate cut this month and only a 16% chance for a cut in May. The odds for the first cut aren’t appreciable until June, and there is a chance of less than 50/50 for two by July. In comparison, the market had expected two cuts by June only two months ago. The takeaway is that inflation is still hot and interest rates are high; they are both likely to remain that way through mid-year, where the risk to markets lies. Equity markets are banking on an economic pivot mid-year. That pivot is centered on interest rates and FOMC and highlighted by the forecasts for earnings. The S&P 500 NYSEARCA: SPY is expected to produce growth this year. More importantly, earnings growth is expected to accelerate sequentially throughout the year, with the back half doubling the 6.2% gain in the front. Most growth is expected in Q4, about 17% YOY, but it may not come if rates aren’t cut. Consumers are Resilient: Labor Markets are Solid There were some signs of weakening in the February labor data, but the data was solid on balance. Robust job gains were offset by downward revisions that left the three months above average for the preceding ten years. Unemployment rose but remains low relative to history and at levels deemed healthy in 2018-2020. Wages are also increasing, up more than 4% YOY, underpinning resilience in the consumer economy. Consumer habits are shifting, but spending remains strong, and growth is present among top retailers, including Walmart, Costco Wholesales NASDAQ: COST, Kroger NYSE: KR, and The TJX Companies NYSE: TJX—no reason for the Fed to cut rates and ample for them to keep policy tight. The Technical Outlook: S&P 500 Advances on “As-Expected” Inflation Data Some MSM outlets reported the inflation data as expected, and the S&P 500 advanced. The market gained more than 1% at the session's high but showed resistance near the all-time high. Resistance at the all-time high may be strong. Even if the all-time high doesn’t cap gains the upside is limited because the S&P 500 chart highlights include a 25% gain since November 2023 and diverging indicators. Diverging indicators are a sign of market weakness that often precede corrections. Trading at the current level, the index is more than 5% above the 2021 all-time high, the first and best target for solid support, and set up to fall. → Americans Now Favor Gold Over Stocks as an Investment Vehicle (From Edge On The Street) (Ad) Before you consider Costco Wholesale, 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 Costco Wholesale wasn't on the list. While Costco Wholesale currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

3 Small-Cap Leaders Poised for Significant Growth 2024-03-13 11:05:00+00:00 - Key Points Several small stocks, including Ultra Clean, Powell Industries and AdaptHealth are outperforming major indexes. Small caps have underperformed as big techs led the market, but analysts believe that situation may reverse itself. Small stocks are currently trading at attractive valuations compared to the S&P 500. 5 stocks we like better than AdaptHealth They may not be household names like Meta Platforms Inc. NASDAQ: META or investor favorites like Nvidia Corp. NASDAQ: NVDA, but several small stocks, such as Ultra Clean Holdings, Inc. NASDAQ: UCTT, Powell Industries Inc. NASDAQ: POWL and AdaptHealth Corp. NASDAQ: AHCO are outperforming major indexes. With the dominance of big artificial intelligence stocks leading the market higher, small-caps have been underperforming their larger counterparts, as you can see if you compare the SPDR Portfolio S&P 600 Small Cap ETF NYSEARCA: SPSM with the SPDR S&P 500 ETF Trust NYSEARCA: SPY. Get AdaptHealth alerts: Sign Up According to research from asset manager Pinnacle Associates, small-cap stocks have been underperforming larger ones for the second-longest stretch since 1926. However, there are some signs that small caps may be ready to break out of their slump. For starters, smaller stocks are trading at attractive valuations, compared with the S&P 500. Compelling Valuations for Small Cap Stocks According to data compiled by Yardeni Research, the S&P 500’s forward price-to-earnings ratio is 20.5, while the S&P 400 Midcap’s forward P/E is 15.7, and the S&P 600 Small Cap Index has a forward P/E of 14.6. “The bullish case for investing in small cap stocks considering recent underperformance and attractive valuations is compelling,” Pinnacle said. “Historically, when the performance of small-cap stocks is this abysmal, an extended period of strong returns follows,” Pinnacle analysts added. Here are three little-known small-cap stocks that are outperforming broader markets, and could offer early opportunities for investors hoping to uncover hidden gems. Ultra Clean Stock Cleaning up Along with Semiconductors Ultra Clean, with a market cap of a little over $2 billion, supplies parts, cleaning services and analytical services to the chip industry. Its two largest revenue customers in fiscal years 2021, 2022 and 2023 were Applied Materials, Inc. NASDAQ: AMAT and Lam Research Corp. NASDAQ: LRCX, each of which accounted for more than 10% of total revenue in those three years. Wall Street expects Ultra Clean earnings to grow 154% this year, to $1.42 a share. In 2025, earnings are forecast to grow 118% to $3.11 per share. The Ultra Clean chart shows the stock extended following a rally of 55.28% over the past three months. A moving-average pullback may offer the next potential buy opportunity. Powell Industries Powering Higher The maker of gear for power substations returned 34% in January and 56% in February. Blowout earnings reports are behind the big price moves; MarketBeat’s Powell Industries earnings data show the company beating top and bottom-line views in the past two quarters. Analysts expect earnings to grow by 71% this year, to $7.69 a share. Powell has a market capitalization of just $1.8 billion, and only 9.2 million shares in float, meaning there’s scant analyst coverage. The absence of analyst coverage can limit market visibility and investor confidence, potentially leading to undervaluation. However, with few shares available for institutions to trade, interest among big investors will naturally be muted. However, a lack of attention from Wall Street can also provide opportunities for contrarian investors or those willing to do a little digging. The Powell Industries chart reveals the stock is in a buy range, after pulling back from its March 1 high of $197.87. AdaptHealth Pivots Back to Profits Pennsylvania-based AdaptHealth provided equipment and services for home healthcare, primarily in the areas of sleep therapy, diabetes treatment, after-care following hospital discharge, oxygen and related chronic therapies and other services such as urology and wound care. Revenue comes largely from Medicare, Medicaid and commercial insurance payors. The stock has a market capitalization of $1.4 billion and 78.4 million shares in float. The stock has a beta of 1.69, meaning it’s more volatile than the broader market. The AdaptHealth chart clearly illustrates that volatility: Recent performance has been strong, with gains of 46.09% and 32.68% in the past month and three months, respectively. However, the stock struggled prior to that, with a one-year decline of 21.45%. This is another small stock that appears to have plenty of room to grow: MarketBeat’s AdaptHealth analyst forecasts show coverage from eight analysts. The consensus price target is $12.10, an upside of 10.91%. Analysts expect earnings of 82 cents a share this year, returning to profitability after a loss in 2023. In 2025, earnings are expected to grow by 27% to $1.04 a share. → Americans Now Favor Gold Over Stocks as an Investment Vehicle (From Edge On The Street) (Ad) Before you consider AdaptHealth, 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 AdaptHealth wasn't on the list. While AdaptHealth currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Can WeightWatchers Regain its Mojo after Oprah Steps Down? 2024-03-13 11:04:00+00:00 - Key Points WeightWatchers stock hit all-time lows after its Q4 2023 earnings report, missing consensus EPS estimates by $1.00 and Oprah Winfrey leaving the Board of Directors. Oprah will also be donating her financial stake in WW to the National Museum of African American History and Culture. WeightWatchers expects to return to YoY growth in subscription revenues in the second half of 2024. 5 stocks we like better than WW International WW International Inc. NASDAQ: WW (WeightWatchers) has had a disastrous 2024, with its shares collapsing 66.7% year-to-date (YTD). The company made a praiseworthy strategic pivot in 2023, acquiring Sequence Inc. to enter into the GLP-1 clinical weight loss space, gaining the ability to prescribe medications like Novo Nordisk A/V NYSE: NVO owned Ozempic and Wegovy and Eli Lilly& Co. NYSE: LLY GLP-1 agonists like Mounjaro and Zepbound. The foresightful move complemented its flailing WeightWatchers business. Get WW International alerts: Sign Up WeightWatchers Shares Surge and Slide Shares rocketed towards Goldman Sach's $13 price target, which was raised from $3.80. Incidentally, Weight Watchers achieved the target price, hitting $13.31 in October 2023 before plunging to all-time lows of $2.79 after its underwhelming Q4 2023 earnings release. Additionally, its famed director, Oprah Winfrey, who lost over 60 pounds on GLP-1 meds, opted not to seek reelection to its Board of Directors. Investors are left to ponder if Weightwatchers will ever regain its mojo. Leading the GLP-1 Platform Trend Weight Watchers was one of the first platforms to jump on the GLP-1 weight loss trend, which was embraced by telehealth platforms like Teladoc Health Inc. NYSE: TDOC, LifeMD Inc. NASDAQ: LFMD and Hims & Hers Inc. NYSE: HIMS in the medical sector. The WeightWatchers Turnaround Loses Shape On Feb. 28, 2024, Weightwatchers reported a fourth-quarter 2023 GAAP EPS loss of $1.11, missing consensus estimates for a loss of 11 cents by $1.00. Revenues continued to fall 7.6% YoY to $205.96 million versus $206.91 million consensus estimates. Subscribers at the end of the period rose 7.1% to $3.8 million, with 67,000 end-of-period clinical subscribers. Gross margins were 60.4% and 61.4% adjusted, excluding the net impact of restricting charges. Operating loss was $6 million. For 2023, WeightWatchers ended the year with 67,000 clinical subscribers, which is up 47% sequentially and 3X when the acquisition of Sequence Inc. was announced in 2023. The combination of behavioral and medical weight health solutions is the new integrated approach to the member experience. Downside Guidance for WeightWatchers Stock WeightWatchers issued downside guidance for the full year 2024 with revenues of $830 million to $860 million versus $924.03 consensus estimates. The guidance reflects a $55 million YoY headwind from the decision to wind down its low-margin consumer products business. The company's reporting segments will change in 2024, reporting as one segment based on total revenues from North America and internationally. Oprah Walks Away from WeightWatchers Oprah Winfrey has been on the WeightWatchers Board of Directors since 2015. Her presence was a ringing endorsement for the brand. Oprah's weight loss of over 60 pounds using GLP-1 treatments further helped the brand, especially during its strategic pivot to focusing on GLP-1 drug prescriptions. However, Oprah stepping down from the Board and donating her shares to the National Museum of African American History and Culture insinuates the loss of her endorsement of the brand. This is what the stock reflects as shares tumbled to their lowest levels ever. It also reveals that the shares had a very real Oprah halo effect that was able to put in a floor, which appears to be gone now. WeightWatchers CEO comments WW International CEO Sima Sistani noted that the restructuring also recalibrated their marketing spend. They recalibrated the bulk of their spending to Q3 from Q1, when traditionally 40% of annual sign-ups occurred in the first quarter. They will take the same approach in 2024. Sistani commented, “We are on track to deliver growth in total subscribers in 2024, expecting to end the year with subscribers in the range of 3.8 million to 4.0 million, including between 140 thousand and 160 thousand subscribers to our new WeightWatchers Clinic.” WW International analyst ratings and price targets are at MarketBeat. WW International peers and competitor stocks can be found with the MarketBeat stock screener. Daily Descending Triangle The daily candlestick chart for WW illustrates a descending triangle pattern. The descending upper trendline formed at $3.92 on Feb. 28, 2024, capping bounce attempts at lower highs. The flat-bottom lower trendline sits at the $2.79 low. The daily relative strength index (RSI) has been flat near the 40-band since its earnings release. Pullback support levels are at $2.79, $2.42, $2.04 and $1.58. → An Unusual Way to Invest in Gold (From Edge On The Street) (Ad) Before you consider WW International, 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 WW International wasn't on the list. While WW International currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here

Biden Budget Lays Out Economic Battle Lines Against Trump 2024-03-12 15:28:38+00:00 - President Biden in his budget this week staked out major economic battle lines with former President Donald J. Trump, the presumptive Republican presidential nominee. The proposal offers the nation a glimpse of the diverging directions that retirement programs, taxes, trade and energy policy could take depending on the outcome of the November election. During the past three years, Mr. Biden has enacted key pieces of legislation aimed at bolstering the green energy economy, making infrastructure investments and reinforcing America’s domestic supply chain with subsidies for microchips, solar technology and electric vehicles. Few of those priorities are shared by Mr. Trump, who has pledged to cut more taxes and erect new trade barriers if re-elected. The inflection point will be arriving as the economy enters the final stretch of what economists are now expecting to be a “soft landing” after two years of high inflation. However, the prospect of a second Trump administration has injected increased uncertainty into the economic outlook, as companies and policymakers around the world brace for what could be a dramatic shift in the economic stewardship of the United States. Here are some of the most striking differences in the economic policies of the two presidential candidates.

Oracle Jumps as ‘Large’ New Cloud Contracts Spur Revenue Growth 2024-03-12 05:17:00+00:00 - (Bloomberg) -- Oracle Corp. surged 11% after signaling that growth in its closely watched cloud computing business is stabilizing, showing progress in its bid to capture more market share in the competitive market. Most Read from Bloomberg Cloud revenue jumped 25% to $5.1 billion in the period that ended in February, the company said Monday in a statement, surpassing Wall Street’s $5.06 billion estimate. Of that, $1.8 billion came from renting out computing power and storage over the internet and $3.3 billion from applications. The Austin-based company, known for its database software, is focused on expanding its cloud infrastructure business to compete with Amazon.com Inc., Microsoft Corp. and Alphabet Inc.’s Google. That effort has faced headwinds in recent quarters as growth rates slowed. But there were signs of stabilizing in the third quarter with sales gaining at nearly the same pace as the three months preceding it. Remaining performance obligation, a measure of backlogged sales, was $80 billion at the end of the quarter. That’s significantly ahead of the $59 billion expected by analysts. Chief Executive Officer Safra Catz pointed to this figure, which she said was driven by “large new cloud infrastructure contracts signed in the third quarter,” as evidence of customer momentum. “We expect to continue receiving large contracts reserving cloud infrastructure capacity,” Catz said, adding that Oracle is “very rapidly” opening new cloud data centers to meet demand. Shares jumped to as high as $126.46 in extended trading. Oracle’s stock was down about 10% over the past six months through Monday’s close, lagging the iShares software ETF, which gained 16%. The results were “certainly better than feared,” said Jeffries analyst Brent Thill in an interview on Bloomberg TV, noting that other cloud vendors like Amazon and Microsoft have similarly reported strong results recently. Story continues Total sales in the fiscal third quarter increased 7.1% to $13.3 billion, roughly in line with analysts’ estimates, according to data compiled by Bloomberg. Profit, excluding some items, was $1.41 a share, compared with the average estimate of $1.38. Sales of Fusion software for managing corporate finance increased 18% in the quarter from a year earlier. Revenue from NetSuite, enterprise planning tools aimed at small- and mid-sized companies, was up 21%. Revenue from both businesses gained 21% in the previous period. After acquiring Cerner, the electronic health records company, Oracle has been focused on modernizing the legacy software business. It “finished moving the majority of Cerner customers” to Oracle cloud infrastructure in the quarter, Chairman Larry Ellison said. Further updates over the coming year, such as a new suite of applications, will “transform Cerner and Oracle Health into a high-growth business for years to come,” he added. (Updates with CEO comment in fourth paragraph and adds software-specific sales) Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

Oracle beats quarterly profit expectations on AI-driven cloud demand 2024-03-12 04:17:00+00:00 - (Reuters) -Oracle beat estimates for quarterly profit on Monday, as demand rose for its cloud-computing services on the back of a boom in generative AI. Shares of Oracle jumped 9.8% to $125.31 in extended trading. The 46-year-old database giant has been trying to reinvent itself as a cloud-computing provider by offering services cheaper than those of rivals such as Amazon.com. It has tried to drum up demand for its subscription plans through partnerships with rival Microsoft and AI chip leader Nvidia, which has powerful and expensive supercomputers that can be used by customers of Oracle's cloud service. "We expect to continue receiving large contracts reserving cloud infrastructure capacity because the demand for our Gen2 AI infrastructure substantially exceeds supply — despite the fact we are opening new and expanding existing cloud datacenters very, very rapidly," CEO Safra Catz said. Excluding items, the company posted profit of $1.41 per share for the third quarter, up 16%, above analysts' average estimate of $1.38 per share, according to LSEG data. However, revenue of $13.28 billion for the three months ended February 29 was below analysts' average estimate of $13.30 billion. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Krishna Chandra Eluri)

Why Meta Platforms, Taiwan Semiconductor, Advanced Micro Devices, and Other Artificial Intelligence (AI) Stocks Tumbled on Monday 2024-03-12 02:53:00+00:00 - One of the byproducts of the accelerating adoption of artificial intelligence (AI) has been the investor practice -- for better or for worse -- of viewing AI stocks collectively. In many instances, developments concerning one company in the space can have a ripple effect, bringing a broad cross-section of stocks in the space up or down with them. That appears to be the case Monday morning, as two developments seem to be having on outsize impact on AI companies. With that as a backdrop, foundry Taiwan Semiconductor Manufacturing (NYSE: TSM) tumbled 4.1%, social media company Meta Platforms (NASDAQ: META) slumped 4%, chipmaker Advanced Micro Devices (NASDAQ: AMD) dropped 3.8%, computer memory specialist Micron Technology (NASDAQ: MU) declined 3.1%, and semiconductor specialist Broadcom (NASDAQ: AVGO) fell 1.9%, as of 1:32 p.m. ET on Monday. A check of all the usual suspects -- regulatory filings, financial reports, and changes to analysts' price targets -- turned up one piece of negative company-specific news -- while surprisingly, there were a number of positive catalysts (more on that in a bit). Furthermore, troubling news about a high-profile company in the space seemed to put AI investors in a dour mood. Image source: Getty Images. A one-two punch Broadcom released the results of its fiscal 2024 first quarter (ended Feb. 4) on Friday, and investors weren't particularly impressed. The semiconductor specialist generated revenue of $11.96 billion, an increase of 34% year over year, resulting in adjusted earnings per share (EPS) of $10.99, an increase of 6%. While both metrics exceeded Wall Street's expectations, management's forecast seemed to catch investors off guard. Broadcom reiterated its outlook for the 2024 fiscal year, guiding for revenue of $50 billion. Investors were hoping the company would boost its guidance after exceeding expectations for the quarter. The news weighed on many AI and chip stocks on Friday. Investors seemed to be waiting for the other shoe to drop, which happened over the weekend. Reports emerged that a proposed class action lawsuit was filed late on Friday, accusing Nvidia of copyright infringement. Three authors sued the chipmaker, alleging that Nvidia had used their books -- along with hundreds of thousands of others -- to train its NeMo AI platform, and had not requested permission. As one of the undisputed beneficiaries of the adoption of AI, this development will be carefully watched by investors. Story continues This is merely the latest in a growing number of lawsuits filed by writers claiming that copyrighted works have been used to train generative AI systems without their knowledge or consent. Late last year, a group of noteworthy authors -- including George R.R. Martin, Michael Connelly, and Jonathan Franzen -- filed a similar suit against Microsoft and OpenAI, charging that ChatGPT was trained on their copyrighted works. Meta Platforms is in the midst of a similar lawsuit regarding its LLaMA AI model. While these lawsuits are currently having a chilling effect on the development of generative AI, it's too early to tell how these cases will ultimately be decided. There's good news While it's understandable that investors might be concerned about these developments, not all the news is bad. In fact, there were some positive bits of company-specific news, and investors appear to be missing the forest for the trees. Here are a few examples: On Friday, Wells Fargo analysts maintained an overweight (buy) rating on Micron stock while raising their price target to $125, suggesting potential upside of 28% compared to Friday's close. The analysts believe the company is at an inflection point, which will become evident in the next two quarters. AMD also got a price target increase on Friday, courtesy of Melius Research. The analysts maintained a buy rating on AMD stock while raising their price target to $265, suggesting potential upside of 28% compared to Friday's close. They cited AMD's recently released MI300X AI chip as having good prospects in data centers. Broadcom got a pair of price target increases Monday morning. Baird maintained an outperform (buy) rating and raised its price target to $1,500, or upside of 19% compared to Friday's close. Citi analysts also maintained a buy rating on the stock and hiked its price target to $1,560, or 19% upside potential. Both analysts cited the secular tailwinds of AI as a catalyst fueling future growth. These announcements suggest that investors should take care in painting all AI stocks with the same brush. While there will no doubt be both positive and negative developments that will impact the entire industry, each of these companies will need to execute on the opportunity and secular tailwinds represented by AI. Meta Platforms and Taiwan Semiconductor are the least expensive among the group, selling for 32 times and 27 times earnings, respectively. Furthermore, when measured in terms of the price/earnings-to-growth (PEG) ratio -- which factors in strong growth -- both stocks clock in at less than 1 -- the standard for an undervalued stock. Each of these stocks represents an intriguing opportunity, particularly in light of the opportunity represented by AI, but investors should size their positions based on their risk tolerance and the degree of volatility they're willing to endure. Should you invest $1,000 in Taiwan Semiconductor Manufacturing right now? Before you buy stock in Taiwan Semiconductor Manufacturing, 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 Taiwan Semiconductor Manufacturing wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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 tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 11, 2024 Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. Citigroup is an advertising partner of The Ascent, a Motley Fool company. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Danny Vena has positions in Meta Platforms, Microsoft, and Nvidia. The Motley Fool has positions in and recommends Advanced Micro Devices, Meta Platforms, Microsoft, Nvidia, and Taiwan Semiconductor Manufacturing. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Why Meta Platforms, Taiwan Semiconductor, Advanced Micro Devices, and Other Artificial Intelligence (AI) Stocks Tumbled on Monday was originally published by The Motley Fool

Unfortunate News for Fisker Stock Investors 2024-03-12 01:07:00+00:00 - Fool.com contributor Parkev Tatevosian reviews Fisker's (NYSE: FSR) challenges in gaining market share in the EV industry. *Stock prices used were the afternoon prices of March 8, 2024. The video was published on March 10, 2024. Should you invest $1,000 in Fisker right now? Before you buy stock in Fisker, 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 Fisker wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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 tripled the return of S&P 500 since 2002*. See the 10 stocks *Stock Advisor returns as of March 11, 2024 Parkev Tatevosian, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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. Unfortunate News for Fisker Stock Investors was originally published by The Motley Fool

'Bitcoin Is Going to Eat Gold': MicroStrategy’s Michael Saylor 2024-03-12 01:00:00+00:00 - MicroStrategy CEO Michael Saylor said bitcoin will "eat" gold in the future. Bitcoin has all the the metal's great attributes, but none of its problems. MicroStrategy on Monday purchased another 12,000 bitcoin, bringing its total holdings to 205,000 tokens. Appearing on CNBC after his company on Monday announced the purchase of an additional 12,000 bitcoins {{BTC}}, MicroStrategy (MSTR) Executive Chairman Michael Saylor said the crypto will be a much more valuable asset than gold in the future. “Bitcoin is certainly at least digital gold, it’s going to eat gold,” Saylor said, “It’s got all of the great attributes of gold and it’s got none of the defects of gold.” As one well-worn example, Saylor said that gold can’t easily be moved from New York to Tokyo in a few minutes, unlike bitcoin. He also expects bitcoin to divert money away from other risk assets, including the giant SPDR S&P 500 ETF (SPY), and for bitcoin to begin showing up in other funds similar to the BlackRock setting plans to acquire spot BTC ETFs in its Global Allocation Fund. Bitcoin on Monday became the world’s eighth most valuable asset, surpassing silver as its market cap rose above $1.4 trillion. It has a long way to go before it reaches the value of gold, which stands at a whopping $14.7 trillion valuation. Saylor reminded of the upcoming Bitcoin halving in April, which will reduce the crypto's block reward by 50%, meaning just 450 new bitcoins hitting the market each day from the current 900. “The price of bitcoin is going to have to adjust up in order to meet that investor demand.”

Biden campaign takes aim at Trump stance on entitlements in new advertisement 2024-03-11 22:43:00+00:00 - U.S. President Joe Biden disembarks Air Force One as he arrives in Manchester, New Hampshire, U.S., March 11, 2024. The re-election campaign of President Joe Biden on Monday released a new digital advertisement targeting Donald Trump over comments the former president made to CNBC about cutting government programs including Social Security, Medicare and Medicaid. The Biden campaign gave CNBC a first look at the new 20-second ad highlighting the statement on "Squawk Box by Trump, who as the presumptive GOP presidential nominee is expected to face Biden in November's election. The ad will be published on Biden's X, Facebook, Instagram and Threads social media accounts, the campaign said. In the interview Monday, CNBC host Joe Kernen asked Trump he had changed his "outlook on how to handle entitlements: Social Security, Medicare and Medicaid?" Kernen's question was based on a concern that those programs, if not cut, will continue to fuel increases in the U.S. national debt. Trump answered: "There is a lot you can do in terms of entitlements — in terms of cutting — and in terms of also the theft and the bad management of entitlements." The Biden campaign highlighting that response closes with footage from the president's State of the Union speech, on Thursday, when he said: "If anyone here tries to cut Social Security, Medicare or raise the retirement age, I will stop you." The ad was was part of series of responses by Biden and his campaign to Trump's interview, which they the seized on an opportunity to attack the Repbulican for suggesting cuts to programs that benefit more than 150 million Americans, many of them older voters. Biden's campaign first tweeted out footage from Trump interview interview, and Biden's official X account then responded with a report that said, "Not on my watch." Biden during a campaign event later Monday in New Hampshire said, "Even this morning Donald Trump said cuts to Social Security and Medicare are on the table again." "The bottom line is he's still at it," Biden said. "I'll never allow that to happen. I won't cut Social security. I won't cut Medicare." White House spokesman Andrew Bates put out a separate statement highlighting the president's promise to protect the program. Trump's team, meanwhile, spent Monday trying to explain his comments on "Squawk Box." "If you losers didn't cut his answer short, you would know President Trump was talking about cutting waste," the Trump campaign said in a tweet responding to the Biden campaign's post featuring video of the former president.

AMD CEO Lisa Su Says AI Is 'Most Important' Technology Of Last 50 Years, 'Everyone' Will Want An AI PC - Advanced Micro Devices (NASDAQ:AMD) 2024-03-11 22:09:00+00:00 - Loading... Loading... Advanced Micro Devices Inc AMD CEO Lisa Su anticipates immense growth in the artificial intelligence space in the coming years and is positioning AMD to capture share as the technology advances. What Happened: Monday on CNBC’s “Closing Bell: Overtime,” Su stressed the importance of AI development. “AI is actually the most important technology that we’ve seen over the last 50 years, you know, it’s arguably the most important,” Su said. “When you think about what it can do for enterprises, for all of us, for research, for development — all of that capability — you need more compute.” AI technology is language-based so anyone can use it, but it’s still in its infancy, the AMD CEO said, adding that it will become faster, more accessible and better overall. She told CNBC that she anticipates “tremendous growth” in AI over the next three to five years. AMD is working on gaining share in the space through partnerships in the cloud and edge computing. The company is also offering AI-powered personal computers to help increase AI accessibility, Su said. “I’m very excited about this continuum of AI products as you go from cloud to edge to PC and really trying to get, you know, sort of the user experience such that everybody has AI somewhere in their lives,” Su said. The AMD CEO explained that people have a lot of personal data and use their PCs as personal productivity tools as is, but the AI PC can offer users much more capable personal assistants and boost productivity dramatically. “As the technology gets better, I am absolutely sure that everyone is going to want an AI PC,” Su said. Check This Out: Redditor Sees More Value In These AI Stocks Than Nvidia, AMD AMD Price Action: AMD shares closed Monday down 4.34% at $193.39, according to Benzinga Pro. Photo: Shutterstock.

Outdoor Industry Veteran, Mike Carney, Appointed as President & CEO of Outdoor Sportsman Group 2024-03-11 21:56:00+00:00 - Loading... Loading... New Head of Outdoor Sportsman Group to Oversee Best-In-Class Television Networks, MyOutdoorTV and Leading Industry Publications DENVER, March 11, 2024 /PRNewswire/ -- Outdoor Sportsman Group (OSG) announces the appointment of Mike Carney as the new President & Chief Executive Officer. A familiar face at OSG with a rich history in the outdoor media landscape, Carney previously held the position of Chief Operating Officer within the company. Under his new leadership role, Carney will manage and oversee Outdoor Channel, Sportsman Channel, and World Fishing Network, while continuing to guide the vision for MyOutdoorTV, as well as OSG's extensive list of leading brand publications. This move is set to strengthen the broadcast, SVOD, digital, social and print presence of OSG, fortifying its commitment to delivering premium content to outdoor enthusiasts everywhere. Mike Carney brings to the position a lifetime of industry experience, having been intimately involved with editorial content, sales, brand marketing, and consumer product sales management for the past 20-plus years. Carney's depth of knowledge and understanding of the outdoor industry positions him as the ideal leader to spearhead innovation and growth at Outdoor Sportsman Group. "As a respected professional in the outdoor sports media field, Mike Carney has consistently proven his commitment and capability," stated Steve Smith, President of KSE Media Ventures. "His promotion to President & CEO reflects our confidence in his vision and strategic planning abilities for our evolving platforms. His deep roots in hunting, shooting, and fishing, along with his profound grasp of the market dynamics, its heritage, and the driving factors behind consumer behavior, positions him perfectly to guide us in delivering innovative and efficient solutions to our partners." Carney's previous successes demonstrate his ability to provide robust leadership and an unwavering commitment to the organization's values and objectives. His promotion will lead OSG into a new era, capitalizing on digital trends and nurturing connections with OSG's extensive audience base. "I am honored to step into the role of President & CEO at Outdoor Sportsman Group," said Mike Carney. "I look forward to leading our amazingly talented team as we continue to inspire and fuel the passions of outdoor enthusiasts around the world with our premium content, on all our proven legacy and emerging media platforms." In his new role as President & CEO, Carney will lead strategic initiatives that align with Outdoor Sportsman Group's overarching goals of entertaining, educating and empowering the outdoor community. He will play a crucial role in identifying and capitalizing on emerging market trends, expanding the company's digital and streaming footprint, and strengthening industry partnerships to amplify OSG's group's mission. About Outdoor Sportsman Group: Outdoor Sportsman Group is comprised of the world's foremost media and entertainment brands for outdoor adventure enthusiasts. It includes three leading multichannel networks: Outdoor Channel, Sportsman Channel and World Fishing Network, as well as Sportsman Channel (Canada) and MOTV, the world's leading subscription streaming platform created for outdoor lifestyle enthusiasts. The Group also consists of numerous established publishing assets: 15 outdoor magazines including Guns & Ammo, Game & Fish, Petersen's HUNTING, In-Fisherman and 20 top websites, including OutdoorChannelPlus.com. Additionally, Outdoor Sportsman Group includes television production operations Winnercomm. For more information, visit www.outdoorsg.com. MEDIA CONTACT: Outdoor Sportsman Group | OSGPress@OutdoorSG.Com SOURCE Outdoor Sportsman Group

Rumble Cloud Launches to the Public - Rumble (NASDAQ:RUM) 2024-03-11 21:56:00+00:00 - Loading... Loading... LONGBOAT KEY, Fla., March 11, 2024 (GLOBE NEWSWIRE) -- Rumble RUM, the video-sharing platform and cloud services provider, announced today the public launch of Rumble Cloud, a new infrastructure as a service offering that champions the free and open internet. Rumble Cloud is designed to empower businesses to become independent from incumbent hyperscalers' unfair pricing, vendor lock-in strategies, and censorship. Rumble Cloud, which provides the backbone for rumble.com , includes a portfolio of essential cloud computing services, available by self-service, including virtual machines and Kubernetes orchestration, block and object storage, load balancers, and a virtual private cloud option. Rumble Cloud's vision is to provide the most predictable and affordable pricing in the market to allow businesses to regain control of their IT budgets. To that end, ‘Resource Tiers' for compute resources offer monthly plans at a fixed price with unlimited usage to combat the price predictability pain points that are commonly felt with a consumption-based model. By providing an independent and neutral alternative to Big Tech, Rumble Cloud has already attracted prominent clients through its successful beta program, including Truth Social, which surged to number one in the Apple App Store last year while hosted on Rumble Cloud. "Rumble Cloud is essential in today's market," said Devin Nunes, CEO of Trump Media and Technology Group. "A trusted partner since day one, Rumble Cloud's incredible service and unrivaled performance have paved the way for Truth Social's rapid growth," he continued. Another high-profile Rumble Cloud customer is the presidential campaign of Robert F. Kennedy Jr. According to campaign manager Amaryllis Kennedy, "Partisanship and censorship are threats to uniting the country. In almost every aspect of the campaign, we ask ourselves how do we make choices that are the most inclusive and neutral so that everyone feels welcome. This includes our choices of business services to run the campaign. The new Rumble Cloud provides a neutral and independent cloud infrastructure to run our essential campaign applications, free of Big Tech and government censorship." "The cloud market is desperate for real competition that isn't controlled by an oligopoly. Our cloud will bring top network speed and quality, but most importantly, we plan to disrupt the market with our pricing strategy," said Rumble Chairman and CEO Chris Pavlovski. "Just as our video platform has taken market share away from YouTube, we plan to do the exact same in the cloud market that Amazon, Google, and Microsoft have cornered," he added. If you are interested in joining or learning more about Rumble Cloud, visit rumble.cloud. ABOUT RUMBLE Rumble is a high-growth video platform and cloud services provider that is creating an independent infrastructure. Rumble's mission is to restore the internet to its roots by making it free and open once again. For more information, visit: corp.rumble.com. Contact: press@rumble.com

'Oppenheimer' Scoops The 96th Academy Awards With 7 Oscars: Emma Stone Lands Second Actress Award For 'Poor Things' - Fox (NASDAQ:FOX), Walt Disney (NYSE:DIS) 2024-03-11 21:44:00+00:00 - Loading... Loading... “Oppenheimer” was the big winner at the 2024 Academy Awards on Sunday, scooping up seven Oscars from its 13 nominations. The biopic about the “father of the atomic bomb” and his role in the Manhattan Project, won the Oscar for Best Picture, with Christopher Nolan winning Best Director and Cillian Murphy, Best Actor in a Leading Role, with Robert Downey Jr. winning Best Actor in a Supporting Role. Its other accolades were for Best Score, Best Cinematography and Best Editing. The second-best performing film, with three wins, was “Poor Things,” the “Frankenstein”-inspired story, based on the novel by Alasdair Grey, which provided Emma Stone with her second Best Actress in a Leading Role Oscar following the one she received for “La La Land” at the 2017 awards. Other notable winners included Da’Vine Joy Randolph, Best Actress in a Supporting Role, in the comedy-drama “The Holdovers.” “Barbie,” despite its seven nominations, won only for Best Original Song — “What Was I Made For?” by Billie Eilish and Johnnie Burn. Meanwhile, the writing awards went to Justine Triet and Arthur Harari, Best Original Screenplay, for “Anatomy Of A Fall,” while Best Adapted Screenplay was won by Cord Jefferson for “American Fiction.” Also Read: Is Nvidia Stock Becoming Too Volatile To Buy? Best-Performing Stock On S&P 500 Tests Investors’ Nerves Market Reaction Film production and TV streaming services got a post-awards lift on stock exchanges in hopes their subscriptions and box office takings will be boosted. Paramount Global PARA climbed 6.4%, while Warner Bros Discovery Inc. WBD gained 4.7% and Fox Corp FOX added 4.4%. Walt Disney Co DIS which, through its various subsidiaries and tie-ins earned a total 20 nominations, including “Oppenheimer,” “Poor Things” and “Barbie,” gained 2%. The Communication Services Select Sector SPDR Fund XLC, an exchange-traded fund that tracks the media sector, was flat. Loading... Loading... Full list of 2024 winners Best picture: “Oppenheimer” “Oppenheimer” Best director: Christopher Nolan, “Oppenheimer” Christopher Nolan, “Oppenheimer” Best actress: Emma Stone, “Poor Things” Emma Stone, “Poor Things” Best actor : Cillian Murphy, “Oppenheimer” : Cillian Murphy, “Oppenheimer” Best supporting actress : Da’Vine Joy Randolph, “The Holdovers” : Da’Vine Joy Randolph, “The Holdovers” Best supporting actor: Robert Downey Jr., “Oppenheimer” Robert Downey Jr., “Oppenheimer” Best original screenplay : Justine Triet and Arthur Harari, “Anatomy of a Fall” : Justine Triet and Arthur Harari, “Anatomy of a Fall” Best adapted screenplay : Cord Jefferson, “American Fiction” : Cord Jefferson, “American Fiction” Best animated feature: “The Boy and the Heron” “The Boy and the Heron” Best animated short: “War is Over! Inspired by the Music of John Lennon and Yoko Ono” “War is Over! Inspired by the Music of John Lennon and Yoko Ono” Best international feature : “The Zone of Interest” (U.K.) : “The Zone of Interest” (U.K.) Best documentary feature: “20 Days in Mariupol” “20 Days in Mariupol” Best documentary short : “The Last Repair Shop” : “The Last Repair Shop” Best live action short: “The Wonderful Story of Henry Sugar” “The Wonderful Story of Henry Sugar” Best score : Ludwig Göransson, “Oppenheimer” : Ludwig Göransson, “Oppenheimer” Best original song: Billie Eilish and Finneas O’Connell, “What Was I Made For?” from “Barbie” Billie Eilish and Finneas O’Connell, “What Was I Made For?” from “Barbie” Best sound: Tarn Willers and Johnnie Burn, “The Zone of Interest” Tarn Willers and Johnnie Burn, “The Zone of Interest” Best production design : James Price, Shona Heath and Zsuzsa Mihalek, “Poor Things” : James Price, Shona Heath and Zsuzsa Mihalek, “Poor Things” Best cinematography : Hoyte van Hoytema, “Oppenheimer” : Hoyte van Hoytema, “Oppenheimer” Best makeup and hairstyling : Nadia Stacey, Mark Coulier and Josh Weston, “Poor Things” : Nadia Stacey, Mark Coulier and Josh Weston, “Poor Things” Best costume design : Holly Waddington, “Poor Things” : Holly Waddington, “Poor Things” Best editing: Jennifer Lame, “Oppenheimer” Jennifer Lame, “Oppenheimer” Best visual effects: Takashi Yamazaki, Kiyoko Shibuya, Masaki Takahashi and Tatsuji Nojima, “Godzilla Minus One” Now Read: Gold Speculators Pave Ground For ‘Multi-Year Bull Market In Metals’ Photo: Shutterstock

US Air Force special ops forces are turning big cargo planes into bombers with a new weapon 2024-03-11 21:31:01+00:00 - Workhorse transport planes fighting as bombers The rehearsals allow the airmen to rapidly employ a litany of effects via airdrop from airlift platforms, such as the MC-130J Commando II. US Army Photo Traditionally, the Air Force's workhorse transport planes, like the C-17 Globemaster III and MC-130J Commando II, have aided in the strategic and rapid delivery of fuel and supplies via airdrop. The big aircraft can also carry personnel. These two types of planes were selected for the initiative because turning them into bombers required fewer modifications and training. "The beauty of that capability is it doesn't require any aircraft modifications," Lt. Gen. Jim Slife, then-deputy chief of staff of US Air Force Special Operations Command, told reporters at the Air and Space Forces Association conference, which Business Insider attended at the time. "It doesn't require any special aircrew training. It really just takes advantage of the characteristics of that platform." The MC-130J can climb 28,000 feet with a 42,000 payload and has a range of 3,000 miles. Slife said the cargo plane can carry as many long-range weapons as a B-52. "An MC-130J is the perfect aircraft for this capability because we can land and operate from 3,000-foot highways and austere landing zones whereas a bomber cannot," Lt. Col. Valerie Knight, 352nd Wing mission commander, said in a release in November 2022. The C-17 has a payload capacity of nearly 171,000 pounds, designed to transport armored vehicles, trucks, and trailers, as well as airdrop more than 100 paratroopers and their accompanying equipment. This plane, given its size, can carry three times as many long-range precision munitions as a B-52 bomber, according to Slife.

Did Starbucks' job in China just get tougher? Here's our take on new campaign tariff talk 2024-03-11 21:31:00+00:00 - Former President Donald Trump 's promise of tougher China tariffs if elected again could make doing business in the world's second-largest economy more difficult for American companies like Starbucks which are already facing tough competition from lower-cost domestic competitors. "I fully believe in them [tariffs] economically when you're being taken advantage of by other countries," the presumptive 2024 Republican presidential nominee told CNBC in an interview Monday. The campaign rhetoric aside, many China tariffs imposed by the U.S. during Trump's administration have remained under President Joe Biden , the presumptive Democratic nominee. No matter who wins the election — any reaccelerated trade war between Washington and Beijing could hurt U.S. consumer companies in China by stoking nationalistic flames among Chinese buyers to boycott American brands. During Trump's trade war, Chinese consumers turned away from some U.S. goods and services in protest. In 2018, shortly after the initial round of Trump levies, then-Starbucks CEO Kevin Johnson argued his company's coffee was different. Starbucks built "in China for China," he said. The company operates "as an entity in China that's relevant to the consumer, to the culture, and we're playing the long game," he added at the time . SBUX 1Y mountain Starbucks 1 year Shares of Starbucks rose 1% on Monday as investors, perhaps, shrugged off China trade war worries. To be sure, the stock has fluctuated since the start of the year due to concerns about the company's performance in China where economic pressures and aggressive local rivals pose challenges. Such a scenario could fuel skepticism — already a worry among investors — about Starbucks' appeal to a broad swath of Chinese consumers. "I fear they're too expensive for China," Jim Cramer recently said, referring to Starbucks. China is a "no growth country," he added — given its shrinking population, which is a negative sign for businesses like Starbucks that rely on the country's growing consumption. While still massive with roughly 1.43 million, China lost its most populous nation in the world status to India last year. These pressures in China and the U.S. — the No. 2 and No. 1 markets, respectively, for Starbucks — have been weighing on the stock. Historically, Starbucks has traded at a price-to-earnings multiple of between 22 to 30 times forward earnings estimates. Starbucks' current P/E is 22 times, the lower end of that range. Jeff Marks, director of portfolio analysis for the Club, believes that Starbucks "currently reflects a lot that has gone wrong and doesn't anticipate what could potentially go right." To get back its premium multiple, the company "will need to prove it can get China back on track and reaccelerate U.S. comps," he added. The lagging post-Covid economic recovery in China has added to Starbucks' challenges. Economic improvement there, in part, hinges on whether the Chinese government will pass fiscal spending measures that would help boost consumer confidence. Last week, Beijing announced an ambitious economic growth target of roughly 5% in 2024. The Chinese government admits that meeting this target "will not be easy" as deflation, a property crisis, and mounting debt keep a lid on growth. A weaker Chinese economy is driving consumers there to be price-conscious — hence the rise of competitors like Chinese coffeehouse chains such as Luckin and Cotti, which are more promotional than Starbucks and offer big discounts. Luckin, on average, sells its drinks in China for around $1.38 each compared to $4.18 for Starbucks. Starbucks conversely has more of a premium beverage offering that targets middle- to higher-income consumers. Despite the headwinds, Starbucks sees significant potential in China's premium market and aims to differentiate itself through product innovation, new food offerings, and quality in-store and digital experiences. In its fiscal 2024 first quarter , Starbucks saw a weaker-than-anticipated comeback in China, driven by what management called a "more cautious" consumer that led to lower sales and an increased promotional environment in China. The two reasons Starbucks cited were lower sales of higher-priced merchandise in China and targeted promotional investments to personalize offers and reward customers. Peter Saleh, a restaurant analyst at financial services firm BTIG, said he wouldn't be surprised if Starbucks engages in more promotions in the near term since the Chinese consumer "seems a bit more subdued in the reopening" after the pandemic. "You have to battle for those transactions to increase sales," he told CNBC in an interview. "The goal is to get those customers back in your store. Over time, you can migrate them toward full-priced items." On Starbucks' more recent post-earnings conference call, management said they may be operating in an "increased promotional environment," but they are "not interested in entering the price war" with domestic Chinese coffee competitors. Rather, their focus is "capturing high quality but profitable sustainable growth" by being a leader in China's premium market. As the coffee market matures in China, Starbucks believes the industry will undergo a more defined tiered competition dynamic, which would expand opportunities as a high-end brand. At some point, Saleh believes consumers in China will come back and when they do, Starbucks' appeal will still be there."There are certain things you get at Starbucks you can't get elsewhere," he said. "It's more about the innovation of the brand and experience and that's why people choose to go to Starbucks. They've always operated in the premium segment and they've always found success there." However, it may take more time to get there. BTIG estimates that China's economic recovery has roughly six to eight months, at the least, before investors start to see a change in transaction count. But, since Chinese consumers are not off to a strong start in 2024, it might even take longer than that, according to Saleh. Starbucks has nearly 7,000 stores in China, as of its latest reported quarter. It's on track to hit its goal of 9,000 locations there by 2025. The company maintains "full confidence" in the business opportunity in China and continues to see "enormous potential in China's premium market." Only time will tell whether a Trump administration or another four years of Biden will be able to thread the needle to level the playing field with China without hurting U.S. companies' interests there. (Jim Cramer's Charitable Trust is long SBUX. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. Alex Tai/SOPA Images | LightRocket | Getty Images

Jimmy Kimmel says he was told not to read Trump's pan of the Oscars onstage, but obviously did it anyway 2024-03-11 21:27:15+00:00 - Jimmy Kimmel says he was told backstage not to read Trump's review of his performance at the Oscars. Obviously, Kimmel did it anyway. Trump made the post on his own social network, Truth Social. NEW LOOK 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. Advertisement Jimmy Kimmel apparently went against producers' advice at the Oscars when he decided to fill some spare time by reading President Donald Trump's review of his performance. "I was told we have, like, an extra minute, and I'm really proud of something and I was wondering if I could share it with you. I just got a review, and um…," Kimmel said during the ceremony before proceeding to read an excerpt of Trump's review of his performance off of a cellphone. In a Truth Social post, Trump lambasted Kimmel's performance, questioning whether there had ever been a "WORSE HOST" in the award ceremony's history. He also denounced the program as a "really bad politically correct show." In a post-show interview with Kelly Ripa and Mark Consuelos, Kimmel said that he read the post against the advice of those backstage. Advertisement "They're like, 'You got a little bit of time.' I was like, 'I'm reading the Trump tweet,'" Kimmel said, referring to Trump's post. "'They were like, 'No, no, don't read that," he continued. "'Yes I am!'" Representatives for the Oscars did not immediately respond to a request for comment. Jimmy Kimmel calls out Donald Trump at the 2024 #Oscars pic.twitter.com/bAGWxUFg9P — The Hollywood Reporter (@THR) March 11, 2024 Truth Social is Trump's social platform, launched after he was permanently suspended from X (then Twitter) after the January 6, 2021, siege. In a statement, Twitter said the ban was due to the "risk of further incitement of violence." After Elon Musk took over the company, Trump's account was reinstated, but the only public post on his account since its reinstatement is his August 2023 mugshot. Advertisement The 2024 presidential frontrunner has historically been a prolific poster, but he doesn't have the same reach he did in the past. Axios found in December 2023 that Trump's social reach was much smaller on Truth Social than on Twitter before his 2021 ban and that his engagement on Truth was falling. Truth Social, as the Daily Beast reported, crashed on Thursday as Trump posted through President Joe Biden's State of the Union address. The platform hasn't been doing well financially, either: a November 2023 SEC filing revealed that the platform had lost nearly $23 million in the first half of 2023, compared to a nearly $29 million profit during that same time period in 2022. And in April of 2022, the president reported in a financial disclosure form that he had made less than $201 on Truth Social . After reading his review, Kimmel hit back at Trump, chasing the self-deprecating humor with a jab at the former president, who faces many criminal charges. "Thank you, President Trump. Thank you for watching, I'm surprised you're still — isn't it past your jail time?" Kimmel said to laughter from the audience.