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Google parent Alphabet to report Q2 earnings Tuesday with AI, ad spending front and center 2024-07-23 03:16:00+00:00 - Google parent Alphabet (GOOG, GOOGL) will report its fiscal second quarter earnings after the bell on Tuesday, giving Wall Street a closer look at the state of the digital advertising market and whether generative AI hype is translating to revenue growth. The tech giant is coming off of an impressive first quarter during which it announced it initiated its first dividend of $0.20 per share and authorized stock repurchases of $70 billion. Alphabet shares are up 30% year to date. Shares of rivals Microsoft (MSFT) and Amazon (AMZN) are up 18% and 22% year to date, respectively. All three companies are pouring money into building out their generative AI capabilities, spending lavishly on data centers capable of powering the AI models they offer via their cloud service platforms. For the quarter, analysts are anticipating earnings per share of $1.85 on revenue of $84.35 billion, according to data compiled by Bloomberg. That would be a major jump from the same period last year when the company reported earnings per share of $1.44 on revenue of $74.6 billion. Wall Street expects advertising revenue to top $64.5 billion, up from $58.1 billion last year. That includes year-over-year increases in Google Search & other, YouTube ads, and Google Network revenue, pointing to a positive advertising environment. A beat by Alphabet could also buoy shares of ad business rival Meta (META). In an investor note, Jefferies analyst Brent Thill said he expects advertising spending to be similar to or better than Q1, with Google paid search growth in the mid-teens. “Fundamentals remain healthy, with solid ad spend, potential benefits from Olympics and elections,” Thill wrote. Wedbush analyst Scott Devitt struck a similarly upbeat tone in his investor note. “We think the setup remains positive heading into 2Q results with our ad survey and agency commentary pointing to continued strength for Google Search,” he wrote. Google Chief Executive Sundar Pichai speaks during the tech titan's annual I/O developers conference on May 14 in Mountain View, Calif. (Photo by GLENN CHAPMAN/AFP via Getty Images) (GLENN CHAPMAN via Getty Images) On the cloud front, Wall Street is anticipating Google Cloud revenue of $10.1 billion and operating income of $982.2 million. That would mark an increase from the $8 billion in revenue and $395 million in operating income the company reported in Q2 2023. Google still trails both Amazon and Microsoft in the cloud space, with its rivals capturing the number one and two spots, respectively. However, the segment continues to grow, and Alphabet is banking on its investments in generative AI to help power stronger revenue and customer acquisition in the future. But when exactly AI starts to generate revenue for Google’s Cloud business, let alone its ad segment, is still up in the air. Story continues “It is still too early to count on AI benefits as most [companies] remain in pilot mode, and material AI [revenue] is more likely a 2025-26 event,” Thill wrote. As for Google’s search business, Devitt says AI search overviews could create “incremental engagement and may become a tailwind for Search monetization over time.” Google is still trying to find its footing with AI Overview, the generative AI feature that shows up at the top of Google Search results pages. In May, the company rolled out the search function, only for users to quickly discover that its answers weren’t always accurate, with now famous responses telling users to put glue in their pizza or to eat a rock every day. Google responded by pulling back some of the gen AI features. While generative AI is sure to be a major theme this earnings season, it’s still unclear how much it will boost companies' bottom lines. But with Google the first among Big Tech companies to report earnings, it should give us some indication of whether the technology is generating meaningful revenue or not. Subscribe to the Yahoo Finance Tech newsletter. (Yahoo Finance) Email Daniel Howley at dhowley@yahoofinance.com. Follow him on X at @DanielHowley. For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here Read the latest financial and business news from Yahoo Finance

AMC Uses Theaters to Help Restructure Billions in Debt 2024-07-23 02:42:00+00:00 - (Bloomberg) -- AMC Entertainment Holdings Inc. said it reached a sweeping restructuring deal with creditors that will let it delay repayment of more than $1.6 billion of debt for several years, buying it time to execute a turnaround. The world’s largest movie theater chain reached an agreement that calls for swapping $1.2 billion of term loans due 2026 for new loans due three years later and undertaking a similar swap with $500 million of junior notes, according to a company statement. Exchangeable notes could also be swapped for stock, and some additional 2026 debt may be pushed out to 2029. It’s a major milestone for AMC, which has been fighting against $4.5 billion of long-term borrowings as theater attendance remains below pre-pandemic levels. Chief Executive Officer Adam Aron said the deal makes AMC “ever more confident in the future of our business.” AMC moved 175 theaters and related intellectual property out of the reach of some creditors as part of the transaction, according to regulatory filings. The maneuver enables the company to exchange existing debt for new obligations backed by the shifted assets, the filings show. A representative with AMC declined to comment on the additional details of the swap. AMC as of March 31 had more than $2.8 billion of maturities due in 2026, according to regulatory filings, including a $1.9 billion term loan and nearly $1 billion of second-lien notes. It has been chipping away at its maturities through other swaps and buybacks. The company recently capitalized on a brief meme stock frenzy to reduce its debt, a playbook it has before used to help shore up liquidity. --With assistance from Thomas Buckley. (Adds details from statement throughout.) Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

Google reneges on plan to remove third-party cookies in Chrome 2024-07-22 22:41:00+00:00 - Google is getting rid of "cookies" that track users Google is getting rid of "cookies" that track users 00:36 Google on Monday said the search company is reversing its plan to phase out the use of third-party cookies in its Chrome browser in favor of a new strategy that will allow people to "make an informed choice that applies across their web browsing." The about-face was announced in a July 22 blog post from Anthony Chavez, vice president of Privacy Sandbox, a Google initiative created to phase out third-party cookies. Google first announced plans in 2020 to phase out third-party cookies, data stored in web browsers that allow companies to track users. Among other things, cookies help marketers target ads to specific groups of people, and Google on Monday said that it was reversing course partly after receiving feedback from advertisers. "This feedback has helped us craft solutions that aim to support a competitive and thriving marketplace that works for publishers and advertisers, and encourage the adoption of privacy-enhancing technologies," Chavez wrote. He added, "Instead of deprecating third-party cookies, we would introduce a new experience in Chrome that lets people make an informed choice that applies across their web browsing, and they'd be able to adjust that choice at any time." Google said it will discuss the new approach with government agencies. The proposal needs to be approved by regulators, including in the U.K. and European Union, which had opened investigations into the proposed new practice. —Agence France Press contributed to this report.

Bethesda Game Studios Unionizes Under Communication Workers Of America - Microsoft (NASDAQ:MSFT), Sega Sammy Holdings (OTC:SGAMY) 2024-07-22 22:38:00+00:00 - Loading... Loading... Bethesda Game Studios has become the first Microsoft-owned game developer to fully unionize under the Communication Workers of America (CWA). The union, consisting of 241 developers, includes artists, engineers, programmers and designers, marking a significant shift in the industry's labor dynamics, IGN reported. See Also: Microsoft’s Xbox Closes 4 Video Game Studios In Bethesda Restructure A Unified Voice The union was officially confirmed after 241 developers either signed a union authorization card or expressed their desire for unionization through an online portal. This milestone follows the unionization of Bethesda Game Studios Montreal in late June and approximately 300 quality assurance workers within Zenimax, Bethesda's parent company. “We, a majority of developers at Bethesda Game Studios Dallas, Rockville, and Austin, are ecstatic to announce the formation of our union with @CWAUnion,” the group announced on X (formerly Twitter). “Together as #OneBGSUSA, we advocate for the betterment of every developer at BGS, setting the new standard for our industry.” Negotiations Ahead With Microsoft Corp MSFT recognizing the union, the next step involves negotiating a contract. Senior system designer Mandi Parker highlighted the significance of this development in a press release: “It is clear that every worker can benefit from bringing democracy into the workplace and securing a protected voice on the job. We're thrilled to get down to brass tacks and win a fair contract, proving that our unity is a source of real power to positively shape our working conditions, our lives, and the company as a whole.” Industry-Wide Implications Unionization is increasingly becoming a trend in the gaming industry as workers seek protections against issues like mass layoffs. Earlier this year, Sega Sammy Holdings Inc. – ADR‘s SGAMY union ratified a contract, and Activision’s quality assurance workers also formed a union. Microsoft has previously indicated it would not obstruct a potential union at Activision Blizzard, a stance that evidently extends to Bethesda Game Studios as well. Read Next: Image created using photos from Shutterstock.

Tesla Vehicle Goes Up In Flames At Charging Station: 'These Are Not Easy Fires To Put Out,' First Responder Says - Tesla (NASDAQ:TSLA) 2024-07-22 21:58:00+00:00 - Loading... Loading... Tesla Inc TSLA is under scrutiny again due to the intensity of a battery fire and the potential spread of hazardous materials. What Happened: A Tesla vehicle burst into flames at a “Supercharger” station in Pennsylvania earlier this month. The car proceeded to melt, resulting in a temporary road closure, according to a report from PCMag. When firefighters arrived, they targeted the fire using a nearby hydrant. After most of the fire was extinguished, first responders began the cooling process of the vehicle’s battery. “These are not easy fires to put out, and the hazmat concerns they pose are difficult to mitigate,” the Upper Allen Fire Department reportedly said. Check This Out: EXCLUSIVE: Tesla ‘An Elon Musk And A Technology Story First, EV Story Last’ — Market Strategist Explains Why To Buy The Stock Why It Matters: This isn’t the first time a Tesla-related fire has been reported. In June, a Tesla charger seemingly malfunctioned and set the home of NFL star Randall Cobb ablaze. In September, a Tesla owner told Business Insider that his Model Y suddenly began shaking and, after pulling over, burst into flames. A similar scenario occurred in 2022. See below. At the time, Tesla found itself under the scanner of the U.S. federal transport regulator — the National Highway Traffic Safety Administration — due to quality issues with its cars. In the case of EVs, the battery chemistry can cause the vehicle to enter into a phenomenon known as thermal runaway. This is when the battery cells begin self-heating and consume more oxygen, which can cause the flames to reignite repeatedly. Battery fires can also reportedly burn up to 1,000 degrees hotter than gas or diesel engine fires. This latest Tesla fire, however, is particularly concerning given that it took place while the vehicle was charging. The exact cause of the fire has not been made public. Images from the scene appear to show that multiple Superchargers were damaged by the flames. Contrary to popular belief, EVs are less prone to fires compared to conventional internal combustion engine (ICE) vehicles. According to the National Fire Protection Agency, there are about 25 fires per year for every 100,000 electric vehicles. In contrast, there are more than 1,500 fires per year for every 100,000 ICE vehicles. It’s important to note that this data may be skewed since the average age of EVs is significantly lower than that of ICE vehicles. TSLA Price Action: Tesla shares were up 5.35% at $252.03 at the time of publication Monday afternoon, according to Benzinga Pro. Read Next: This illustration was generated using artificial intelligence via Midjourney.

Verizon Revenue Misses Estimates on Lower Equipment Upgrades 2024-07-22 21:53:00+00:00 - (Bloomberg) -- Verizon Communications Inc. reported second-quarter operating revenue that missed analysts’ estimates as fewer people upgraded wireless equipment. Total operating revenue was $32.8 billion, up less than 1% from a year ago, while analysts were looking for $33.1 billion on average. The shares fell as much as 7% Monday morning in New York, the most in just over a year. The weak overall growth masked surprising gains in wireless phone customers and an increase in fixed wireless broadband internet customers. Wireless service revenue was $19.8 billion in the three months that ended in June, the company reported on Monday, up 3.5% and in line with analysts’ estimates. The biggest US mobile carrier, Verizon gained 148,000 wireless retail postpaid phone customers, beating estimates for 118,000. Verizon has made efforts to avoid losing subscribers to rivals, through perks like a bundled plan that includes Netflix and Hulu Max for an extra $10 a month. Customers can also add a Disney+ or an Apple bundle. The New-York based carrier has been focusing on its fixed wireless product, which delivers high-speed internet over airwaves rather than through lines into the home. The company said it added 218,000 consumer subscribers in the second quarter, a 7.4% increase from the first three months of the year, and 160,000 business customers signed on, the highest quarterly result to date. That gives the company a base of more than 3.8 million fixed wireless customers, an increase of almost 69% from a year earlier. Growth in fixed wireless is helping to offset an overall decline in broadband subscribers, after a government subsidy program ended in June. The Affordable Connectivity Program provided low-income households with a monthly discount toward broadband internet service. The company reported total broadband net additions of 391,000, in the second quarter, down 6.5% from a year ago but beating estimates, boosted by gains in fixed wireless and its Fios wired product, Verizon said. Adjusted earnings were $1.15 per share, in line with analysts’ forecasts. The company confirmed its outlook for the year of wireless service revenue growth of 2% to 3.5% and adjusted earnings per share of $4.50 to $4.70. Verizon shares have gained about 10% so far this year, lagging wireless rivals AT&T Inc. and T-Mobile US Inc., which are both up about 14% in the same period. (Updates shares in second paragraph.) Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

Darren Walker, president of Ford Foundation, will step down by the end of 2025 2024-07-22 21:38:59+00:00 - NEW YORK (AP) — If there are rock stars in philanthropy, Darren Walker, the president of the Ford Foundation, is one of them. And he’s about to exit the stage. Walker, 64, has been named one of Rolling Stone’s “25 People Shaping the Future” and Time’s “100 Most Influential People” as he led one of the original American philanthropies since 2013. The foundation said Monday that he will step down from his role by the end of 2025. A search committee has been convened to find Walker’s replacement, said Ford Foundation board chair Francisco Cigarroa. Walker “has guided Ford through some of the most challenging moments of our time with grace, kindness, and empathy, and his tenure will be remembered as one of the most consequential periods in the institution’s nearly 90-year history,” Cigarroa said in a statement. A former corporate attorney and chief operating officer of the Harlem-based Abyssinian Development Corporation, Walker oversaw major investments in advocating for gender equity and disability rights, interrogating the impact of new technologies, and leveraging the foundation’s own assets for impact. In describing his outlook, including in a 2021 interview with The Associated Press, Walker often referenced Dr. Martin Luther King, who he credited with saying, “philanthropy is commendable, but it should not allow the philanthropist to overlook the economic injustice that makes philanthropy necessary.” Latanya Mapp, president and CEO of Rockefeller Philanthropy Advisors, called Walker an “icon’ and ”a beacon,” for how to lead authentically in the struggle for social justice in a changing world. “He has been able to, I think, bring change in ways that many philanthropies have only put rhetoric towards,” said Mapp, noting that Walker had previously served on RPA’s board. Former President Barack Obama told The New York Times, which first reported Walker’s resignation, that Walker has, “devoted his career to social justice, human rights, and reducing inequality around the world — and he’s inspired countless organizations and individuals to do the same.” As the impact of the COVID-19 pandemic began to crystalize in 2020, Walker advocated that Ford leverage its endowment to issue a social bond, essentially taking out debt to increase its grantmaking. The board approved a $1 billion bond issuance, which was snapped up by socially-conscious investors and which the foundation paid out over two years to its grantees. The vast majority went to organizations led by people of color, the foundation said at the time, and most of the funds were unrestricted. Other foundations followed suit, helping to both stabilize nonprofits and to strengthen the racial justice movement that exploded again after the murder of George Floyd. A gay man and a Black man, Walker has spoken of growing up in poverty in rural Texas and of the particular perspective he brings to leading the Ford Foundation. Mapp called Walker incredibly humble and said he speaks about the issues facing people in communities without centering his own experiences. “He centers the communities themselves and the stories of the people who are going through, many of the challenges and the needs of today,” she said. With an endowment of $16 billion, the Ford Foundation is one of the largest U.S. philanthropic foundations. It was founded with the wealth of the Ford family, who made their fortune manufacturing cars through Ford Motor Co. ___ Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.

I signed up for a matchmaker after getting tired of dating apps. I couldn't believe how well my first date went. 2024-07-22 21:17:11+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 This as-told-to essay has been adapted from a conversation with Taylor Bannks, a 33-year-old New Yorker working with a professional matchmaker. It has been edited for length and clarity. Before I got in touch with a matchmaker, I was dating how most people date. I've had some relationships through dating apps. However, in recent times, it has just not been enjoyable. I don't enjoy constantly swiping left and right. I deleted them from my phone even before signing up for the matchmaker. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. At this stage, I'm not looking for something casual. I've figured out who I am and what I want in a partner, so I'm in a good place to enter a longer-term, more serious relationship. Advertisement I saw an ad for a matchmaker on Instagram I had been curious about matchmaking for about five years. A colleague told me that's how she dated, and I was like, "What? People do that? That seems old school, but I'm curious." The idea has always been in the back of my mind, and then I saw a matchmaker on an Instagram ad. They didn't have a ton on their feed, so I didn't know if it was a scam. I clicked the link, and the next thing I knew, I was entering my first name, last name, and email address to get more information. I had an intro call with the recruiter of the matchmaker service, and it went well. She did a really good job answering my questions. Advertisement Taylor Bannks worked with a matchmaker. Courtesy of Taylor Bannks It's well known that Black women have a different type of dynamic when it comes to dating and, of course, life. And I asked her that very difficult question. I was like, "Look, I'm a Black woman. How do you feel that the matchmaker will be best able to find someone for me given that?" I was really happy with how she responded. She didn't shy away from it. That was a very big green flag for me. If you want to go the matchmaking route, do your due diligence to ensure it's a legitimate company. I Googled them, looked at the founder, looked her up on LinkedIn, and looked up the matchmakers on LinkedIn. I signed up at the beginning of June and have it for four months. What I like about the service I chose is that you can get your money refunded after a particular period if you're unhappy. Advertisement It's a couple thousand dollars, so it is an investment. Because of the cost, I feel that anyone in the network is more intentional because you have to pay, and it's not $50 or $100 a year. It is a commitment. I filled out a questionnaire for my matchmaker The matchmaking service learned more about me from the initial sign-up call. I shared a couple of bullet points I wrote about the characteristics I'm looking for in a potential partner. Related stories That was part one. Part two is when you're paired with a matchmaker. You have an introductory call that lasts about an hour on Zoom. Before the call, they email you a 30-question document about who you are and what you're looking for in another person. Advertisement Some of the questions involve what ethnicities you're open to dating. Also, what age? Height? Politics? What is your ideal partner? Can you describe the characteristics? How would you describe yourself? Are you athletic? Are you short or tall? Are you petite? Do you work out? Do you drink socially? Do you have a dog or cat? Are you allergic to dogs or cats? It was very thorough. It was a solid questionnaire and a good starting point for the conversation about who I am and what I'm looking for. I really appreciated the Zoom conversation. It was a good hour and felt like a proper interview. I went in very specific, and I think that served me well. My matchmaker scheduled my first date After my initial call with my matchmaker, finding a first match took about a week and a half to two weeks. Advertisement They are working in the background and interviewing guys for me to date, which is nice. It's kind of like a recruiter for relationships. It is a slow process. You should make sure that you are in a solid place in your life because you won't get people every day — at least, that's not my experience. I thought I would receive more information on the person than I did for my first match. You get a two-sentence write-up. You get their first name, where they go to school, a couple of hobbies, and two photos. After we both said yes and agreed to date one another through the matchmaker, she made all the accommodations. She set a location, made the reservation, and emailed us the details. Advertisement I do like that. However, I didn't have any context as to how the man would plan a date. I could not believe how well the date went You're not in any kind of communication with the guy at all before the date. It's all through the matchmaker. I was excited and a little nervous getting there, feeling a little of everything at that moment. But once the evening started to flow, I was almost in disbelief about how well we meshed. Advertisement It was really easy to talk to this person. I felt very calm and at ease when sitting next to him. I'm very big on letting my feelings lead the way in terms of whether I feel comfortable with someone and whether I want to get to know them more. And the way that we just kind of meshed right off the bat was super impressive. It was a stark difference from a dating app or meeting someone in real life. We both gave feedback after the date After the date, the matchmaker sends an email that contains feedback. It asks: On a scale of one to five, one being the worst and five being the best, how do you rate the date overall? Advertisement It also asks you questions like: What did you think about your date? Did you and your date have any challenges, or did you clash? Did you guys connect on any specific level? Give examples. It was a very detailed questionnaire again. Once I provided all the feedback, I set up a 15-minute Zoom call with my matchmaker to discuss my feedback about the guy and hear about how the date went. The scary part is that the man on the other end is doing the same. The matchmaker will not read verbatim the answers that your date provided but high-level bullet points so you can get a feel for what the other person felt while they were on the date with you. You cannot get that on a dating app or in person. Advertisement It's a good opportunity to reflect on how you are on dates. Granted, this will be different from person to person. But it's a helpful dynamic and tool to understand how people take you in while you're socializing with them. It might not work out It is a departure from how I previously dated, and it's been a good departure so far. I have to manage my expectations. I'm open to a new, healthy relationship, but it's not magical. I have the real perspective that maybe I will go through this process and it won't work out. I have to be OK with that as well. Advertisement I would not do this if you feel wishy-washy within yourself or need validation. You have to be really, really confident and solid in who you are, no matter the outcome of the process.

Like Biden, many boomers are facing the end of their careers. It brings up feelings of grief and identity loss. 2024-07-22 21:11:48+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 After weeks of calls to replace President Joe Biden as the 2024 Democratic nominee, Biden officially dropped out of the race on Sunday. Despite his desire to seek reelection, Biden stepped down after reports of memory struggles and some Democratic leaders withdrawing their support. While Biden's career trajectory may not be relatable, the pain that can come with retiring is. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. CNN commentator Van Jones likened Biden's announcement to taking away a grandfather's car keys. "You finally get the keys back," Jones said. "And then you just cry. Because this is somebody that you love." Advertisement As the youngest boomers approach retirement age, many might soon find themselves in Biden's shoes, Dr. Natasha P. Trujillo, a counseling and sports psychologist who specializes in grief around career transitions, told Business Insider. "Biden spent his entire career and most of his life engaged in this work," Trujillo said. For people who feel forced to retire, it "can bring up a lot of more existential questions that they're not really thinking about with the hustle and bustle that comes along with their careers." People resist retiring out of many fears There are many reasons people put off retiring, Angela Williams, LCSW and career coach, told BI. First and foremost, "there's a freedom in being able to hold a position of power, to be autonomous and do the work," she said. Giving that up "can lead to confusion, fear, and anxiety of what can come next" because of how ingrained a person's career might be with their identity, routine, and social interaction. Advertisement Joe Biden, then a senator, in 1973. Bettmann/Getty Images Pride can also play a huge role in the resistance to stepping down, especially if it's related to physical abilities. Related stories "You may doubt yourself more, or other people may doubt you more, which could be a new experience for a lot of people," Trujillo said. "It's emotionally loaded and can be really, really hard for them to come to terms with what they have to give up." Retirement grief can lead to depression and early death Trujillo said that retirement often involves a grieving process. Some might be "losing that sense of purpose or meaning in their life and are unsure how they might reinvent that," she said. She said that one of the biggest issues that comes up around retirement is the fear of finding a new identity, and that some clients find it "scary" to pursue new hobbies or interests if they're not as good at them or don't find them as satisfying. Advertisement Others might not find anything outside of work to be worth their time, Williams said, noting that it becomes harder to accept retirement if you tie your value to work. Having more free time (and little to fill it with) along with the feelings of grief around retirement can lead to depression, illness, and even earlier death, according to some research. Balance and connection are important Establishing an identity outside your career can soften the blow of retirement. "People who have well-rounded hobbies and interests have an easier time transitioning because they have a lot more sources to draw from," Williams said. Advertisement For example, Trujillo said that some retired pro athletes transition into philanthropic work to give their life new meaning. Similarly, she said, people who retire should look for a hobby or volunteer work that aligns with their values. Much of that comes from having a growth mindset, Williams said. People with a growth mindset "can always find that there was a lesson or something helpful to be learned from," she said, while those with fixed ones tend to be "very closed off to new opportunities." To help her clients figure out their next steps after big life events like retirement, Trujillo said she emphasizes looking at gains and losses. While retirement can come with a lot of loss, benefits might include a less rigid schedule, more opportunities to travel, or more time to spend with family and friends. Even people with plenty of social connections and hobbies outside work may still find retirement jarring. Williams recommended finding a therapist who specializes in retirement and leaning on loved ones to make the change less difficult. Advertisement It's important to take the feelings around retirement seriously, no matter what age you are, Trujillo said. "When people can recognize that and understand that this is a major transition, I think that's hugely effective."

S&P 500 climbs for best day since early June as Nvidia shares lead tech turnaround 2024-07-22 21:11:00+00:00 - The S&P 500 rose Monday to notch its best day since June 5 as tech shares bounced on the heels of the worst weekly loss for the index since April. The benchmark climbed 1.08% to settle at 5,564.41 and clinch its best day since June 5, while the Nasdaq Composite advanced 1.58% to close at 18,007.57. The Dow Jones Industrial Average rose 127.91 points, or 0.32%, to finish at 40,415.44. Nvidia popped 4.8%, recovering some of its 8% pullback from last week. Other major tech stocks such as Meta Platforms and Alphabet also rose more than 2%. CrowdStrike was the worst performer in the S&P 500, dropping 13.5% and building on last week’s nearly 18% loss. “We’re seeing a rotation back into the technology sector after a pretty meaningful sell-off, exacerbated by the CrowdStrike meltdown,” said Mona Mahajan, a senior investment strategist at Edward Jones. “A combination of broadening in earnings and the Fed cutting rates is giving investors some hope.” Tech stocks were under pressure last week as investors rotated out of those names in favor of smaller names, sending the S&P 500 lower by nearly 2% last week. The Nasdaq shed more than 3% during that period. Despite tech’s strong gains, small-cap stocks held up. The Russell 2000 closed about 1.7% higher on Monday. Traders also kept an eye on the U.S. political landscape after President Joe Biden dropped out of the presidential race on Sunday and endorsed Vice President Kamala Harris. Since Biden’s disastrous debate performance in June, many analysts were seeing an increasing likelihood of a win by former President Donald Trump in November. Earnings and central bank policy remain top of mind for Wall Street. Traders have been pricing in a nearly 93% likelihood of the Federal Reserve cutting interest rates during its September meeting.

Delta cancels hundreds more flights as fallout from CrowdStrike outage persists 2024-07-22 21:00:00+00:00 - CrowdStrike- major player in cybersecurity released automatic update that caused major global outage CrowdStrike - major player in cybersecurity released automatic update that caused major global outage 01:46 Delta Air Lines canceled flights for a third straight day Monday as it struggles to recover from a global software outage that took down Microsoft systems around the world. The outage, related to a faulty update from cybersecurity company CrowdStrike, also hindered operations at shipping and logistics companies, retailers and banks. Delta CEO Ed Bastian said in a public letter Sunday that it paused flying after the outage occurred on Friday, resulting in 3,500 canceled flights through Saturday and continuing into Sunday. The outage hit on what was the airline's "busiest travel weekend of the summer," according to Bastian. On Monday, when most other airlines had largely recovered from the software outage, as of 3 p.m. Eastern Time Delta had canceled or delayed a total of more than 2,000 flights within, into or out of the U.S., according to flight tracking website FlightAware. As of 3 p.m. Eastern, the carrier had canceled more than 800 flights. Overall, Delta has scrapped more than 4,500 flights since July 19 — more than double its total number of 2024 cancellations before the CrowdStrike glitch, FlightAware data shows. Unfortunately for Delta customers, such flight disruptions could persist for several more days, Bastian said in a video message to employees on Monday. Delta also acknowledged that the CrowdStrike problem is causing ongoing issues with the software the carrier uses to track and schedule flight crew. "There is no excuse" Some travel industry experts faulted Delta for the snafu, saying the company should be better prepared for tech problems of the kind caused by the CrowdStrike update. "There is no excuse for this. None. Delta has the money to invest in new [information technology]. They should have made those investments," Atmosphere Research Group President Henry Harteveldt told CBS News senior transportation correspondent Kris Van Cleave. "But IT investments take a long time and don't give you stuff to show off on Instagram." Bastian said many Delta applications run on Microsoft Windows, which was affected by the CrowdStrike issue. Most crucially, one of the airline's crew tracking tools was rendered inoperable, making it impossible for Delta to "effectively process the unprecedented number of changes triggered by the system shutdown," Bastian said. "Our teams have been working around the clock to recover and restore full functionality." Bastian said Delta would offer travel waivers to customers on affected flights, allowing them to change their itineraries and rebook flights without a fee. "I encourage you to take advantage of that flexibility if possible," Bastian said in his letter. Secretary of Transportation Pete Buttigieg took aim at Delta on X, calling the way the airline was treating customers during the business interruption "unacceptable." "We have received reports of continued disruptions and unacceptable customer service conditions at Delta Air Lines, including hundreds of complaints filed with @USDOT. I have made clear to Delta that we will hold them to all applicable passenger protections," he wrote. He also made clear that under federal regulations, customers are not obligated to accept travel credit to rebook their flights, rather they are entitled to immediate refunds. "Delta must provide prompt refunds to consumers who choose not to take rebooking, free rebooking for those who do, and timely reimbursements for food and hotel stays to consumers affected by these delays and cancellations, as well as adequate customer service assistance," Buttigieg said. CrowdStrike warning CrowdStrike issued an update Sunday, saying it's testing a new way to bring companies' software systems back online. CrowdStrike added it had identified and isolated the issue that caused the outage, and that the incident was not related to a cyberattack. Microsoft says the glitch affected 8.5 million devices around the world, with experts saying it could take days or even weeks to repair every affected computer. Companies in other industries such as health care continue to grapple with restoring their systems and service to customers. For example, hospitals, which cancelled elective procedures Friday, now have a backlog of appointments to reschedule. The recovery process unfolds as CrowdStrike cautioned that other cybercriminals are attempting to exploit the event. The company warned in a blog post that bad actors, posing as CrowdStrike, have tried to distribute a malicious ZIP archive named crowdstrike-hotfix.zip, claiming it is a fix to the system flaw. —CBS News' Kris Van Cleave and the Associated Press contributed to this story

Cybersecurity stock Palo Alto could benefit from CrowdStrike's outage woes 2024-07-22 20:58:00+00:00 - CrowdStrike's dramatic setback could be Palo Alto's gain. The software update by CrowdStrike last week caused one of the largest IT blackouts in history, disrupting computers and technology systems worldwide and hammering the cybersecurity company's reputation. While the risk of CrowdStrike losing existing customers is low, the outage may have an impact on new customer wins, BTIG wrote in a Monday note to clients. Those customers could go to cybersecurity rival — and Club holding — Palo Alto . "We see Palo Alto as a potential beneficiary because maybe they can win some business from that," said Jeff Marks, the Investing Club's director of portfolio analysis. Analysts at BTIG said CrowdStrike committed the "cardinal sin" for any security provider by hurting the revenue generation of its customers. Early on Friday, airlines, banks and health-care providers around the world saw their Microsoft Windows devices go offline because of a CrowdStrike-issued update to its Falcon product. This is the platform CrowdStrike designed to prevent cybersecurity breaches using cloud technology, and requires deep access to each computer's operating system. Microsoft said the incident impacted 8.5 million Windows devices. The effects were so widespread because CrowdStrike's services are utilized by many Fortune 500 companies. CrowdStrike has said that a fix for the defect has been deployed. Shares of CrowdStrike have taken a beating, plummeting 22.7% since Thursday's close, including an 11% plunge on Monday following several notable negative Street notes Guggenheim Securities downgraded the stock to a neutral rating from buy on Monday. "With the stock still trading at the highest multiple of recurring revenue across our entire Software coverage, we are stepping away for the time being," the analysts said. Although it will take time to repair its image, investors with a multi-year horizon can ride it out. Oppenheimer removed CrowdStrike from the firm's 2024 list of top picks, citing near-term pressure on the stock, while both BTIG and Scotiabank downgraded the stock to hold from buy. Palo Alto shares have yet to see much of a bounce on the news, up just 2.7% since Thursday's close. Jim Cramer said that the market's reaction is unwarranted, and shares of the portfolio name should be higher. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance We're long-term bullish on Palo Alto because of its stellar leadership with CEO Nikesh Arora at the helm, along with the company's dominance in its respective market as the only real soup-to-nuts cybersecurity play. Plus, Jim recently said Palo Alto is tied to "one of the greatest secular growth themes," which ensures more demand for the company's offerings regardless of the macroeconomic environment. "There are only two companies that do this kind of cloud technology. It's CrowdStrike.. and Palo Alto, which with this 'platformization' strategy has started to do better," Cramer said. We currently have a 2 rating on Palo Alto shares and a price target of $360. (Jim Cramer's Charitable Trust is long PANW, MSFT. 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. CrowdStrike makes software to help firms manage their security in IT environments. Sopa Images | Lightrocket | Getty Images

Kamala Harris breaks donation record and raises $81 million in a single day 2024-07-22 20:54:16+00:00 - Harris' team broke the record for the biggest single-day raise in presidential history. More than 888,000 grassroots donors contributed, with 60% giving for the first time this election. Trump seems furious and said that he should be "reimbursed" for the money he spent attacking Biden. 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 Kamala Harris is seeing green, and it's not just because of the Charli XCX Brat memes. It's because she is swimming in a new influx of cash — $81 million, to be exact. Harris' team amassed the $81 mil in the 24 hours after Joe Biden dropped his reelection bid and endorsed her presidential campaign. The fundraising blitz marks the biggest single-day raise in presidential history. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Warner Bros. Discovery tells NBA it intends to match Amazon's media rights package 2024-07-22 20:49:00+00:00 - Warner Bros. Discovery said Monday it has informed the National Basketball Association that it intends to use its matching rights for a package of games earmarked for another company. Warner Bros. Discovery is targeting the deal carved out for Amazon Prime Video, according to a person familiar with the matter. "In an effort to continue our long-standing partnership, during both exclusive and non-exclusive negotiation periods, we acted in good faith to present strong bids that were fair to both parties. Regrettably, the league notified us of its intention to accept other offers for the games in our current rights package, leaving us to proceed under the matching rights provision, which is an integral part of our current agreement and the rights we have paid for under it," Warner Bros. Discovery said in a statement. "We have reviewed the offers and matched one of them. This will allow fans to keep enjoying our unparalleled coverage, including the best live game productions in the industry and our iconic studio shows and talent, while building on our proven 40-year commitment for many more years," the company said. "Our matching paperwork was submitted to the league today. We look forward to the NBA executing our new contract." The NBA has "received Warner Bros. Discovery's proposal" and is "in the process of reviewing it," according to a league spokesperson. Warner Bros. Discovery acquired matching rights as part of its previous deal with the league, which expires at the end of next season. Those rights allow the company to match payment for any of the games that aired on TNT in the current deal. The question for both the NBA and Warner Bros. Discovery is if the rights extend to an all-streaming package, as has been carved out for Amazon. Warner Bros. Discovery also owns a streaming service, Max, which it could use to air games. Still, Amazon Prime Video has more than twice as many global customers — more than 200 million to Max's roughly 100 million — which may make the service a more appealing platform for the league. The streaming rights are global, even though Warner Bros. Discovery is only bidding on U.S. rights, according to people familiar with the language in the contract. Amazon is also on firmer footing as a stand-alone company, with a market capitalization of nearly $2 trillion. Warner Bros. Discovery's market valuation has fallen to about $20 billion, and CEO David Zaslav has repeatedly discussed his interest in more mergers or partnerships, putting the future of the company into question. That's an added potential headache for the league, which wants stability in its broadcast partners. The league has also inked deals with Disney and Comcast's NBCUniversal for two other packages of games. Both Disney and Comcast have market valuations of more than $150 billion. If the NBA rejects Warner Bros. Discovery's right to match the Amazon package, what happens next remains unclear. It is possible Warner Bros. Discovery could sue the NBA. It is also possible the league could work out a settlement with the company. It is unclear if the NBA would ask Amazon to pay more money for its package. One possibility that is not likely is crafting a fourth package of games, according to people familiar with the matter. In the past two months, the NBA has entertained putting together a fourth package, but those talks fizzled because deals were already in place with Disney, Comcast and Amazon, and those partners did not want to give away inventory, said the people. All three partners plan to pay more money for fewer games than the league is currently getting from either Disney or Warner Bros. Discovery in its current deal. Disney will pay about $2.6 billion per year for its package, and NBCUniversal around $2.5 billion per year, CNBC has previously reported. Amazon's deal is worth $1.8 billion per year. The less-expensive price tag is why Warner Bros. Discovery has targeted that package of games for its matching rights, according to people familiar with the matter. The NBA also has not wanted to carve out too many packages because it is sensitive to consumer confusion and limiting the number of services for which fans need to subscribe, the people said. While Amazon plans to include NBA games with its Prime subscribers at no extra charge, Max's sports strategy includes an additional $9.99-per-month fee for access to live games on top of a basic Max membership. Warner Bros. Discovery has not decided if it will include the NBA games on its basic tier or sports tier, according to people familiar with the matter. Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.

Tesla reports second-quarter earnings on Tuesday and investors want a robotaxi update 2024-07-22 20:46:00+00:00 - Tesla will report second-quarter earnings after the bell on Tuesday. The company's vehicle deliveries report on July 2 was better than analysts feared, but still represented a decline from the previous year. The earnings call on Tuesday will give investors a better understanding of what CEO Elon Musk and company are doing to return to growth after reporting the biggest revenue decline since 2012 during the first quarter. Some institutional investors will focus on the health of Tesla's automotive gross margins and the company's operating expenses after it implemented sweeping layoffs and offered price cuts and other incentives to drive EV sales. Retail investors who submitted questions via the Say Technologies platform ahead of time are hoping for answers about the company's delayed plan to unveil its CyberCab, a "dedicated robotaxi" and its progress on self-driving technology in general. According to LSEG, as of Monday, analysts were expecting Tesla to report 62 cents per share in adjusted earnings on revenue of $24.77 billion for the period ending June 30, 2024. Retail investors who submitted questions via the Say Technologies platform ahead of time are hoping for answers about the company's delayed plan to unveil its CyberCab, a "dedicated robotaxi" and its progress on self-driving technology. They're also seeking details about Tesla's near-term priorities; the outlook for its rapidly growing battery energy storage business; the status of a new factory it promised to build in Monterrey, Mexico; and more. In light of Musk's recent endorsement of former President Donald Trump, and the CEO becoming a Republican megadonor this presidential election cycle, Tesla shareholders also submitted political questions ahead of the call. One asked, "do you believe a Trump / Vance admin will support Tesla and EVs? How confident are you based on your conversations?" And another asked, "How can Elon Musk endorse/fund a party that denies climate change, yet at the same time Tesla's mission statement is derived directly to fight climate change?" Former president Trump has indicated that he would do away with subsidies and other federal programs that help buyers of, and producers of, fully electric vehicles specifically but not other automakers. Reuters reported last week that Musk's political and polarizing statements have "sparked concerns about Tesla's brand, especially in liberal states such as California, which accounts for 10% of the company's global deliveries." California Tesla registrations fell to 52,211 vehicles during the second quarter, according to data from the California New Car Dealers Association. Investors also submitted questions via Say Technologies about Tesla's progress developing humanoid robotics that the company aims to put to work in its factories. Musk claimed, during an annual shareholder meeting in June, that Tesla's Optimus robots will be the catalyst for lifting the company's market cap to an astronomical $25 trillion someday. Musk also called himself "pathologically optimistic" at that meeting.

This state was named the best place to retire in the U.S. 2024-07-22 20:40:00+00:00 - Nearly half of Gen X say they'll need a miracle to retire, study finds The best state to retire in the U.S. is also one of the smallest, according to a new ranking. Based on its high marks for affordability, access to high quality health care, overall well-being and other categories, Delaware, known as the "First State," earned the top spot in Bankrate's annual ranking of the best states to retire in the U.S. In 2023, the state ranked No. 2, behind Iowa. "While you might not think of Delaware as a typical retirement haven, it has many strong selling points for retirees," Bankrate analyst Alex Gailey told CBS MoneyWatch. Bankrate ranked states based on their scores across five key metrics: affordability, overall well-being, access to health care, weather and crime. Given its utmost importance for most retirees, affordability weighted more heavily than other categories — 40% of each state's overall score. Well-being counted for 25%, access to high-quality health care 20%, weather 10% and crime 5%. "Delaware moved from No. 2 to No. 1 because of the affordability metric. It carries the heaviest weight to reflect what's been happening in the economy, with the cost of living rising as much as it has," Gailey said. Indeed, food prices have increased dramatically since 2019, with Americans spending more of their income on food than they have in 30 years. Home prices rose 5.3% from April 2023 to April 2024, according to a June analysis from CoreLogic. Auto insurance went up a whopping 19.5% year over year in June, the latest CPI data shows. Americans also say they are behind on saving for retirement. Only one in five workers who are 55 years old have $447,000 or more in retirement savings, Prudential Financial's 2024 Pulse of the American Retiree Survey found. And a separate study on Gen X's preparedness for retirement found that half of those surveyed said they'd need a "miracle" to retire. While Delaware's cost of living is higher than the national average, the state scored well on other affordability metrics. For example, it has no state or local sales tax, and residents don't have to pay income tax on social security benefits. Delaware's racial and ethnic diversity and its high share of residents who are 62 and older also helped catapult it to the top of Bankrate's list. The state also provides residents access to high quality health care — a key consideration for many retirees. "Having access to good quality health care is so important in retirement, because it's one of biggest costs incurred," Gailey said. Worst U.S. state to retire in In contrast, Alaska was ranked No. 50. The state's low ranking was driven by its poor marks nearly across the board, Gailey said. Other low-ranked states include New York (49), Washington (48), and California (47), all of which were dinged for their high costs of living. "The common thread is they are expensive states to live in," Gailey said. "In retirement, you're on a fixed income and it can be jarring and stressful to see your retirement savings going down." See the full rankings here.

Mark Zuckerberg posted this pic in February. Someone just spotted an interesting object in the background. 2024-07-22 20:39:51+00:00 - Mark Zuckerberg posted a picture in February of him in Facebook's early days and this year. A Threads user recently pointed out something in the background that might be forthcoming AR glasses from Meta. Zuckerberg said the company will be "ready to share more later this year." 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 A photo Mark Zuckerberg shared in February may unintentionally offer some insight into Meta's roadmap for its AR hardware. The Meta CEO made a post on Threads earlier this year with the caption, "How it started vs. how it's going." It shows two images of Zuckerberg at a desk working on Facebook, one from the tech giant's early days and a more current pic. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Eminem Dethrones Taylor Swift With New Album 'The Death Of Slim Shady' - Universal Music Group (OTC:UMGNF) 2024-07-22 20:36:00+00:00 - Loading... Loading... Eminem has ended Taylor Swift's impressive 12-week reign. Following the release of his latest record, “The Death of Slim Shady (Coup de Grâce),” the veteran rapper achieved his 11th No. 1 album in the US. This release also marks the biggest week in 2024 for a rap album, according to Luminate, an analytics platform that tracks trends in music and entertainment. See Also: Eminem Accuses Donald Trump Of ‘Brainwashing’ His Followers: Rapper Says Those Are ‘The People He Cares About The F****** Least’ The artist’s latest work was released through Shady Records, Aftermath Entertainment, and Interscope Records, subsidiaries of Universal Music Group NV UMGNF A New Chapter For Eminem Eminem's new album, where he metaphorically “kills off” his controversial alter-ego, Slim Shady, sold 281,000 equivalent album units in the week ending July 19, The Independent reported. The album not only topped the U.S. charts but also secured the No. 1 spot on the UK albums chart. Despite its commercial success, “The Death of Slim Shady” has received mixed to negative reviews from critics. Before the album's release, Eminem revealed that “The Death of Slim Shady” is a “conceptual album” and that the songs should be listened to in order. For now, the album is available only as a digital download, with clean and explicit editions, and three exclusive variants sold on his official web store. Two of these variants, sold as pre-orders, included exclusive bonus tracks: “Kyrie & Luka” featuring 2 Chainz, and “Like My Shit” featuring FIFTEENAFTER. A third variant, released on July 17, featured both bonus tracks and an exclusive “Steve Berman” skit. CD and vinyl editions are set for release on Sept. 13 and Oct. 25, respectively. Taylor Swift’s Resilient Presence While Eminem’s latest release claims the top spot, Taylor Swift’s “The Tortured Poets Department,” which debuted on April 19, holds strong at No. 2 on the UK albums chart. Swift is currently gearing up for the final five shows of the European leg of her record-breaking Eras tour, set to take place at Wembley Stadium in London from August 15 to 20. These shows will feature rock band Paramore as the opening act. Read Next: Photo: Shutterstock

Activist pressure at Starbucks is the jolt the coffee giant needs to shake its slump 2024-07-22 20:36:00+00:00 - Elliott Management's stake in Starbucks is exactly the jolt the struggling coffee stock needs to return to its winning ways. The well-known activist hedge fund has taken a significant position in Starbucks and is in discussions with the company on ways to improve its depressed stock price, The Wall Street Journal reported Friday afternoon. While it's hardly a surprise — in fact, Jim speculated after Starbucks' disastrous second quarter that Elliott could get involved — we're glad this shoe has finally dropped. And we upgraded our rating on Starbucks to a buy-equivalent 1 in response. "I think Starbucks is a very big buy here because of Elliott," Jim Cramer said Monday on CNBC. "Elliott wants to help … and they can do a lot." If not for our restrictions, we would have added to our Starbucks position Monday. Starbucks' second-quarter report on April 30 revealed immense operational challenges including long lines and poor throughput. In North America, its biggest market, transactions were down 7%, indicating fewer orders, while same-store sales dropped 3%. Sluggishness in China, its second-largest market, also dragged down results. "The execution is horrendous" Jim said. However, the Starbucks brand "is unassailable so that if you fix the execution, then I think you have a big winner here." Shares of Starbucks on Monday were down more than 3%, giving back some of the 6.85% pop they received Friday afternoon after the Journal's report was published. The stock is down almost 20% year to date, dramatically lagging the S & P 500 , which has advanced nearly 17%. SBUX YTD mountain SBUX stock performance year-to-date. Elliott, led by founder Paul Singer, has an impressive track record investing in companies with underperforming stocks. The activist firm is known to seek board seats to help make major company decisions or revamping corporate strategies to improve fundamentals and drive stagnant stock prices higher. Elliott is no stranger to our portfolio. Last year, the firm and multiple other activists successfully jockeyed for changes at Salesforce , which has seen its stock more than double since E lliott's stake was revealed in late January 2023 . And in July 2023, Elliott and Constellation Brands entered into a cooperation agreement that enabled the firm to make suggestions to management. That remains a work in progress due to the challenges facing Constellation's wine-and-spirits business, but its beer business led by Modelo is humming and its capital discipline has been favorable. "If [Starbucks CEO Laxman Narasimhan] is willing to work with them a la what Marc Benioff did at Salesforce and a la Bill Newlands did at Constellation Brands, then Starbucks is going to have a ... nice run up," Jim said during the Club's Morning Meeting on Monday. "Otherwise, Laxman is going to go." It's not yet clear what Elliott may be pushing for at Starbucks, but Wall Street sees its presence in the stock as positive for the Seattle-based chain. Analysts at BTIG said Elliott could push for slower investment in China or an outright sale of its business in the world's second-largest economy. Other possibilities, according to BTIG, include more aggressive share repurchases and a faster rollout of its new Siren drink-making system that is designed to improve service quality. "These changes could go a long way to driving better fundamental performance, and in turn, a higher share price," the analysts wrote Monday. The firm, which maintains a buy rating and $100 price target on the rock, argued current sentiment is "overly negative." Elsewhere, TD Cowen analysts said the near-term opportunity for Starbucks is to cut general and administrative expenses and pick up the pace of returns to shareholders. Improving traffic in the U.S. and eventually China will be more difficult and play out over the medium to long-term, analysts wrote to clients Monday. We're under no illusions that Starbucks' troubles will be straightened out when it reports third-quarter results July 30 after the close. But we'll be listening closely to see if management addresses Elliott's involvement and offers clues that both parties are working together constructively to turn the ship around. (Jim Cramer's Charitable Trust is long SBUX, CRM, STZ. 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. Starbucks Coffee shop in Krakow, Poland on February 29, 2024. Beata Zawrzel | Nurphoto | Getty Images

Here's where Kamala Harris could stand on tax policy, experts say 2024-07-22 20:33:00+00:00 - U.S. Vice President Kamala Harris speaks during a campaign event at Westover High School in Fayetteville, North Carolina, on July 18, 2024. With President Joe Biden officially out of the election, experts are watching for tax policy from Vice President Kamala Harris, the frontrunner for the Democratic nomination. While Harris has yet to outline her economic agenda, voters could see similar themes to Biden's proposals, which have called for higher taxes on the wealthy and corporations, experts say. Ahead of the 2020 presidential election, Harris shared many of Biden's priorities but voiced distinct proposals before her campaign ended in December 2019. More from Personal Finance: How Project 2025 could impact your taxes under a second Trump term 'Recession pop' is in: Why so many listeners are returning to music from darker economic times CFPB cracks down on paycheck advance programs. What that means for workers Broadly speaking, it seems like Harris would be "largely on board" with most, if not all, of what Biden has been pushing, "especially in the big picture," said Garrett Watson, senior policy analyst and modeling manager at the Tax Foundation. If Harris becomes the Democratic nominee and leverages the Biden campaign's infrastructure and staff, it could limit her ability "to go in a way different direction," he said. The Harris campaign did not immediately respond to CNBC's request for comment. Here's what to watch from Harris when it comes to tax issues, according to policy experts.