Several U.S. companies could win big if a TikTok shutdown goes into effect Sunday, according to Morgan Stanley. Research into beneficiaries comes amid reports that TikTok is preparing to shutter its app in the U.S. on Jan.19 in response to a federal ban slated to go into effect. The Supreme Court heard oral arguments last week over the future of the company and whether legislation signed last year forcing parent ByteDance to sell TikTok or face a ban violates free speech protections in the U.S. Constitution. META 1Y mountain Meta shares over the past year Limits or a ban on…
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Check out the companies making headlines in midday trading. Netflix — The streamer added 1% on the back of Seaport’s upgrade to buy from neutral. The firm put out its call ahead of the company’s earnings report next week. UnitedHealth Group — The stock shed more than 4% after UnitedHealth’s fourth-quarter revenue missed analysts’ expectations. The company posted $100.81 billion, below the consensus estimate of $101.76 billion, according to LSEG. UnitedHealth did beat earnings estimates, however, posting adjusted earnings of $6.81 per share versus the $6.72 per share that analysts were expecting. DigitalOcean Holdings — Morgan Stanley upgraded the software…
WASHINGTON — An influential group of five House Republicans from high-tax states is threatening to hold up a major tax package that is a top priority for President-elect Donald Trump unless they get a significant boost to the amount that their constituents can deduct from federal income taxes to reflect state and local taxes already paid.As negotiations over a major tax cuts bill get underway, they are also drawing a firm line: Simply doubling the maximum allowed deduction from the current $10,000 cap to $20,000, they say, is not enough. “The $20,000 is a nonstarter,” Republican Rep. Nick LaLota, N.Y. told…
The Nintendo Switch 2 docked with a TV behind it.NintendoNintendo on Thursday said its long-awaited new Switch 2 hybrid will be available this year, touting a bigger screen and controllers, as the company looks to breathe new life into its struggling hardware business.The business showed off the Switch 2 in a video trailer. The start of the clip features a current version of the console before detaching the two “joy-con” controllers to expand the size of the tablet they attach onto. The video then shows the joy cons growing in size and changing to a matte black color. The joysticks and controller covers come in light…
Michael Olise does not like shin pads.So much so that when the France winger was being brought on for Leroy Sane during Bayern Munich’s 1-0 win over Paris Saint-Germain in the Champions League in November, he was not wearing any.This was spotted by the game’s fourth official Florin Andrei, who instructed the 23-year-old to put some on. Olise reluctantly tucked some into his socks before slinging them out again when officials looked away. As Michael Olise prepared to come off the bench for Bayern in their Champions League game vs. PSG, he appeared to have a brief exchange with the…
Hundreds of mourners flocked to Paris’s venerable Val-de-Grâce church on Thursday to pay their final respects to Jean-Marie Le Pen, the architect of France’s modern far-right movement who was known for his racist and antisemitic remarks.A speaker at the requiem Mass praised Mr. Le Pen, saying he had “perceived, before all others, the dangers that threaten France today.” A choir sang a French military song asking God for “the ardor to fight.” The crowd repeated the words of a prayer to Joan of Arc, with its plea that “the people of France will always be a Christian people.” But since…
Goldman Sachs should be particularly helped by President-elect Donald Trump’s preference for deregulation, Bank of America suggested. Less oversight can boost investor confidence that Goldman will provide sustainable returns on equity, analyst Ebrahim Poonawala told clients on Wednesday. In fact, he said Goldman should be one of the clearest winners from this type of policy shift among large banks. “We expect Goldman Sachs to be among the biggest beneficiaries of a more balanced regulatory environment, especially a change in regulatory attitudes toward the capital markets business,” Poonawala wrote. “This should lead to improved flexibility on capital allocation and allow mgmt.…
U.S. consumer prices rose less than expected in December, a report revealed this week, signaling a potential cooling of inflation pressures. I’ll describe a trade that’s a bet on further tame inflation and a drop in rates. The core consumer price index (CPI), which excludes volatile food and energy prices, increased by 0.2%, down from 0.3% over the previous four months, marking the first decrease in the rate of core CPI growth in six months, driven by lower hotel prices, slower increases in medical care costs, and moderate rent growth. The data renewed hopes that the Federal Reserve might ease…
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.Credit card welcome bonus offers are an easy way to earn extra rewards when you open an account. While these deals can be lucrative, you should consider your budget before signing up for a card and only take advantage if you can pay off your balance on time and in full. You typically need to meet a minimum spending requirement to earn the most valuable credit card welcome bonuses, and you’ll want to do that without overspending to avoid potential interest charges if you carry a balance.CNBC Select analyzed hundreds…
Official portraits of President-elect Donald Trump and Vice-President-elect J.D. VancePresident-elect Donald Trump’s transition team shared official portraits of Trump and Vice President-elect JD Vance days before their inauguration.Both of the brightly lit portraits capture the Republicans wearing blue suits over white collared shirts and blue ties, with Trump sporting an American flag pin on his lapel.Vance, the former U.S. senator from Ohio, is smiling with a closed mouth, while Trump’s expression and head angle closely mirror the stone-faced expression he wore when his mugshot was taken in Fulton County Jail in 2023.Trump’s chief photographer, Daniel Torok, first revealed the photos…
