Cramer urges investors to give new Lowe’s CEO more time to fix things as shares plummet

CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock. “People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ” Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Lowe’s should be back to meeting Wall Street expect


CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock. “People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ” Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Lowe’s should be back to meeting Wall Street expect
Cramer urges investors to give new Lowe’s CEO more time to fix things as shares plummet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, ceo, companys, shares, plummet, cnbcs, lowes, cramer, investors, things, ellison, jc, improvement, earnings, fix, written, urges


Cramer urges investors to give new Lowe's CEO more time to fix things as shares plummet

CNBC’s Jim Cramer on Wednesday urged investors not to bail on Lowe’s new CEO Marvin Ellison after the home improvement giant reported disappointing earnings that led to a major sell-off in the stock.

“People have written off Ellison but he’s been there for five minutes,” Cramer told CNBC’s “Squawk Box. ”

Exactly one year ago, Lowe’s announced that Ellison would take over as CEO, effective July 2018, poaching him from the C-suite at J.C. Penney. Prior to J.C. Penny, he spent 12 years at Lowe’s rival Home Depot.

Lowe’s should be back to meeting Wall Street expectations by its third quarter, the “Mad Money” host said, echoing a similar prediction from Ellison.

Ellison said, in the company’s earnings news release, “We are still in the early stages of our transformation, and with the changes we are putting in place. We expect to deliver improved gross margin performance over the balance of the year.” He also said, “The unanticipated impact of the convergence of cost pressure, significant transition in our merchandising organization, and ineffective legacy pricing tools” as being behind the company’s missed earnings.

Most of these mistakes were brought over from past executives, Cramer said. “Marvin’s doing everything he has to do,” he added. “I think the hand he got wasn’t so great.”

Lowe’s shares were falling about 10% Wednesday, as higher costs weighed on its fiscal first-quarter earnings, which fell short of estimates, and prompted the home improvement retailer to cut its forecast for the year.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, ceo, companys, shares, plummet, cnbcs, lowes, cramer, investors, things, ellison, jc, improvement, earnings, fix, written, urges


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Obama budget official: ‘Medicare for All’ is Democrat version of GOP’s ‘repeal and replace’

Peter Orszag, CEO of Financial Advisory at Lazard Ltd., speaking at the CNBC Healthy Returns conference in New York on May 21, 2019. Instead, the public will begin to see a “bogeyman” version of government-run health care emerge after the 2020 presidential election. Democratic proposals for a government-run health-care system are the equivalent of Republican bids pushing to repeal and replace Obamacare, and they will never pass, President Barack Obama ‘s former budget chief said Tuesday. Lawmake


Peter Orszag, CEO of Financial Advisory at Lazard Ltd., speaking at the CNBC Healthy Returns conference in New York on May 21, 2019. Instead, the public will begin to see a “bogeyman” version of government-run health care emerge after the 2020 presidential election. Democratic proposals for a government-run health-care system are the equivalent of Republican bids pushing to repeal and replace Obamacare, and they will never pass, President Barack Obama ‘s former budget chief said Tuesday. Lawmake
Obama budget official: ‘Medicare for All’ is Democrat version of GOP’s ‘repeal and replace’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, system, health, orszag, version, york, replace, official, budget, gops, ceo, medicare, healthcare, democrat, repeal, governmentrun, obama


Obama budget official: 'Medicare for All' is Democrat version of GOP's 'repeal and replace'

Peter Orszag, CEO of Financial Advisory at Lazard Ltd., speaking at the CNBC Healthy Returns conference in New York on May 21, 2019.

“Single-payer is the Democratic equivalent of repeal and replace. It’ll never be legislated, because the details are too hard,” said Orszag, now CEO of financial advisory at Lazard.

“Medicare for All” will never be implemented in the U.S. because the “details” are “too hard,” former Office of Management and Budget Director Peter Orszag said at CNBC’s Healthy Returns conference in New York. Instead, the public will begin to see a “bogeyman” version of government-run health care emerge after the 2020 presidential election.

Democratic proposals for a government-run health-care system are the equivalent of Republican bids pushing to repeal and replace Obamacare, and they will never pass, President Barack Obama ‘s former budget chief said Tuesday.

President Donald Trump, who has long opposed Obamacare, formally known as the Affordable Care Act, failed to rally the GOP behind an effort in 2017 to repeal and replace it, as he promised during his campaign.

A number of Democratic proposals already making the campaign rounds call for eliminating private health insurance and replacing it with a universal Medicare plan. Lawmakers say it would help reduce administrative inefficiencies and costs in the U.S. health-care system. Most recently, presidential contender Sen. Bernie Sanders, I-Vt., unveiled a bill that would create a government-run system to provide health insurance for all Americans.

Analysts say actually implementing “Medicare for All” would be tough even if Sanders won. Democrats would need to hold on to their edge in the U.S. House and win at least three new Senate seats in the 2020 election to regain control of Congress. Then they would likely need 60 votes in the Senate and two-thirds of the House to overcome any potential filibusters.

The possibility has CEOs of major health-care companies worried too.

The sharpest rebuke came from UnitedHealth Group CEO David Wichmann, who said that “Medicare for All” would “surely destabilize” the U.S. health system.

WATCH: What ‘Medicare-for-All’ looks like in France


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: berkeley lovelace jr
Keywords: news, cnbc, companies, system, health, orszag, version, york, replace, official, budget, gops, ceo, medicare, healthcare, democrat, repeal, governmentrun, obama


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Dressbarn is about to close 650 stores — here’s a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl


Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands. Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Ascena earlier this month compl
Dressbarn is about to close 650 stores — here’s a map of these locations Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


Dressbarn is about to close 650 stores — here's a map of these locations

Dressbarn’s owner Ascena Retail Group said Monday its closing all of its roughly 650 stores, as it hopes to stabilize its business.

Ascena has built up a portfolio of apparel brands over the past decade through acquisitions, including plus-size retailer Lane Bryant and women’s apparel brand Ann Taylor. But as shopping has shifted online and styles have evolved, Ascena has been grappling with sagging sales and a large debt-load.

Same-store sales for the year ended July 2018 were down 2%, according to Factset. The company had $1.33 billion in total debt, in the same period. Shares of the company, which have a market value of $214.4 million, are down 55% year-to-date

Looking to stem the losses, Ascena is turning to pruning its less successful brands.

“We are committed to addressing performance at our under-performing brands, and continue to explore opportunities within our portfolio that can allow us to focus capital and management attention on those brands that we believe can deliver sustained growth and profitability by maintaining a differentiated position in the marketplace,” said former CEO David Jaffe in March.

Jaffe retired as CEO and chairman earlier this month. He was replaced as CEO by Gary Muto, who previously was president and CEO of Ascena Brands.

Dressbarn generated $164 million in sales in the second quarter of 2019, down 7% from the same quarter a year prior. Its sales that quarter represented roughly 10% of Ascena’s overall brands.

Ascena, which did not lay out a timeline for the Dressbarn closures, said in a statement Monday customers can continue to shop online and in-stores, where they can get “even better deals and value.”

Ascena earlier this month completed the sale of its Maurice’s brand to an affiliate of OpCapita for roughly $300 million.


Company: cnbc, Activity: cnbc, Date: 2019-05-21  Authors: john w schoen, lauren thomas, lauren hirsch
Keywords: news, cnbc, companies, roughly, map, 650, quarter, online, brands, dressbarn, ceo, ascena, stores, million, locations, sales, month, close, portfolio, heres


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

‘I don’t need cash’ — but the Ryanair CEO wants Boeing to pay for 737 Max delivery delays

Ryanair CEO Michael O’Leary told CNBC on Monday he is confident that Boeing’s grounded 737 Maxes will resume flights this summer. For the airline, the addition of 737 Max jets had been projected to have added 1 million new passengers this summer alone. “We’re having a discussion with Boeing” about getting financial compensation for the delays, O’Leary said on “Squawk Box.” Boeing’s fleet of Maxes was grounded worldwide in March after the second crash in five months involving the model. The FAA’s


Ryanair CEO Michael O’Leary told CNBC on Monday he is confident that Boeing’s grounded 737 Maxes will resume flights this summer. For the airline, the addition of 737 Max jets had been projected to have added 1 million new passengers this summer alone. “We’re having a discussion with Boeing” about getting financial compensation for the delays, O’Leary said on “Squawk Box.” Boeing’s fleet of Maxes was grounded worldwide in March after the second crash in five months involving the model. The FAA’s
‘I don’t need cash’ — but the Ryanair CEO wants Boeing to pay for 737 Max delivery delays Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, summer, delivery, ceo, maxes, delays, ryanair, need, grounded, added, pay, dont, told, cash, crashes, 737, wants, airline, max, oleary


'I don't need cash' — but the Ryanair CEO wants Boeing to pay for 737 Max delivery delays

Ryanair CEO Michael O’Leary told CNBC on Monday he is confident that Boeing’s grounded 737 Maxes will resume flights this summer. But he said the grounding after two deadly crashes has hurt business.

Europe’s largest discount airline, which ordered 135 Max 200 models with the option for 75 more, had been expecting to receive its first five between April and June but now expects them to be flying by November.

For the airline, the addition of 737 Max jets had been projected to have added 1 million new passengers this summer alone.

“We’re having a discussion with Boeing” about getting financial compensation for the delays, O’Leary said on “Squawk Box.” “I don’t need cash,” he added, saying he wants movement on pricing. CFO Neil Sorahan told Reuters they plan to discuss “modest compensation.”

Boeing’s fleet of Maxes was grounded worldwide in March after the second crash in five months involving the model. The crashes in Indonesia and Ethiopia killed a combined 346 people. Anti-stall software is suspected in the crashes.

The Federal Aviation Administration has come under fire as people questioned the agency’s oversight. The FAA’s internal probe of the 737 Max approval process reportedly found senior agency officials failed to review crucial assessments of the flight-control system.


Company: cnbc, Activity: cnbc, Date: 2019-05-20  Authors: jessica bursztynsky
Keywords: news, cnbc, companies, summer, delivery, ceo, maxes, delays, ryanair, need, grounded, added, pay, dont, told, cash, crashes, 737, wants, airline, max, oleary


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Apple CEO Tim Cook: ‘If you love what you do, you will never work a day in your life’ is ‘total crock’

Then work won’t be work. So says Apple CEO Tim Cook. And though Cook may love the work he does, he also certainly works hard. The Apple CEO gets up before 4 a.m. each day, he told Axios in November. See also:Apple CEO Tim Cook to the class of 2019: ‘My generation has failed you’Apple CEO Tim Cook: ‘The world is full of cynics and you have to tune them out’Apple CEO Tim Cook: ‘Don’t work for money … you will never be happy’


Then work won’t be work. So says Apple CEO Tim Cook. And though Cook may love the work he does, he also certainly works hard. The Apple CEO gets up before 4 a.m. each day, he told Axios in November. See also:Apple CEO Tim Cook to the class of 2019: ‘My generation has failed you’Apple CEO Tim Cook: ‘The world is full of cynics and you have to tune them out’Apple CEO Tim Cook: ‘Don’t work for money … you will never be happy’
Apple CEO Tim Cook: ‘If you love what you do, you will never work a day in your life’ is ‘total crock’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-18  Authors: catherine clifford
Keywords: news, cnbc, companies, tim, total, day, ceo, told, work, apple, steve, wont, cook, crock, tools, love, life


Apple CEO Tim Cook: 'If you love what you do, you will never work a day in your life' is 'total crock'

Find what you love. Do what you love. Then work won’t be work.

It sounds too good to be true. Because it is. So says Apple CEO Tim Cook.

“There is a saying that if you do what you love, you will never work a day in your life,” Cook said Saturday in his commencement speech at Tulane University in New Orleans, La., at the Mercedes-Benz Superdome.

“At Apple, I learned that is a total crock,” Cook said.

Rather, when you find a job you are passionate about, you will work hard, but you won’t mind doing so, Cook says.

“You will work harder than you ever thought possible, but the tools will feel light in your hands,” Cook says.

Cook joined Apple at the behest of the iconic entrepreneur Steve Jobs.

He was inspired to be part of the larger purpose behind the products.

“In 1998, Steve Jobs convinced me to leave Compaq behind to join a company that was on the verge of bankruptcy. They made computers, but at that moment at least, people weren’t interested in buying them. Steve had a plan to change things. And I wanted to be a part of it,” Cook said.

“I wasn’t just about the iMac or the iPod or everything that came after. It was about the values that brought these inventions to life. The idea that putting powerful tools in the hands of everyday people helps unleash creativity and moves humanity forward,” Cook says.

And though Cook may love the work he does, he also certainly works hard.

The Apple CEO gets up before 4 a.m. each day, he told Axios in November.

“I like to take the first hour and go through user comments and things like this that sort of focus on the external people that are so important to us,” Cook told Axios. “And then I go to the gym and work out for an hour because it keeps my stress at bay.”

See also:

Apple CEO Tim Cook to the class of 2019: ‘My generation has failed you’

Apple CEO Tim Cook: ‘The world is full of cynics and you have to tune them out’

Apple CEO Tim Cook: ‘Don’t work for money … you will never be happy’


Company: cnbc, Activity: cnbc, Date: 2019-05-18  Authors: catherine clifford
Keywords: news, cnbc, companies, tim, total, day, ceo, told, work, apple, steve, wont, cook, crock, tools, love, life


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer on CEO reaction to China trade war — some think Trump is ‘stupid,’ others want to stop him

Reaction from American chief executive officers to the escalating U.S. trade war and stalled trade talks with China ranges from thinking President Donald Trump is “stupid” for taking such a hard line to thinking they can actually stop him, CNBC’s Jim Cramer said Friday. “There are some CEOs who think Trump is stupid and that this is all bad and it will go away in the election,” Cramer said on “Squawk on the Street. ” Cramer continued, “Then there are CEOs who have been trying to get into China f


Reaction from American chief executive officers to the escalating U.S. trade war and stalled trade talks with China ranges from thinking President Donald Trump is “stupid” for taking such a hard line to thinking they can actually stop him, CNBC’s Jim Cramer said Friday. “There are some CEOs who think Trump is stupid and that this is all bad and it will go away in the election,” Cramer said on “Squawk on the Street. ” Cramer continued, “Then there are CEOs who have been trying to get into China f
Cramer on CEO reaction to China trade war — some think Trump is ‘stupid,’ others want to stop him Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: berkeley lovelace jr jessica bursztynsky, berkeley lovelace jr, jessica bursztynsky
Keywords: news, cnbc, companies, president, think, china, trade, companies, going, cramer, ceo, ceos, week, trump, reaction, tariffs, stop, stupid, war


Cramer on CEO reaction to China trade war — some think Trump is 'stupid,' others want to stop him

Reaction from American chief executive officers to the escalating U.S. trade war and stalled trade talks with China ranges from thinking President Donald Trump is “stupid” for taking such a hard line to thinking they can actually stop him, CNBC’s Jim Cramer said Friday.

“There are some CEOs who think Trump is stupid and that this is all bad and it will go away in the election,” Cramer said on “Squawk on the Street. ” “There are CEOs who say, ‘You know what, we’re not going to let this happen.'” Cramer continued, “Then there are CEOs who have been trying to get into China for years — and never been allowed — and they’re the companies, the companies going higher.”

Cramer also speculated Friday that Trump does not want “sincere talks” with China over trade because the president feels like he has “got them on the run” and “feels this is how you get re-elected.”

Last week, Cramer reported people were saying that U.S. companies that did not reduce their China exposure after months and months of watching Washington and Beijing clash over trade and economic issues have only themselves to blame.

The Trump administration, at 12:01 a.m. ET last Friday, increased duties on $200 billion worth of Chinese products from 10% to 25%. On Monday, in retaliation, China announced plans to raise tariffs rates on $60 billion in U.S. goods. The president has also been threatening all along to put tariffs on the rest of China’s imports.

Wall Street has been concerned higher tariffs could eventually harm U.S. businesses, especially those with lots of exposure to China. The moves from the Trump administration led to a massive sell-off to start the week. But stocks clawed back most of their losses through Thursday’s close.

Cramer on Friday said, “Why is everyone so confused by these [China moves from Trump]? I don’t think he could be more clear. He’s saying, ‘Listen, I’m not going to do what the previous presidents have done.'”

“Trump doesn’t want American companies to do business with China,” the “Mad Money” host added. “Trump doesn’t want any sort of effort that makes China militarily better, that makes them ahead of us in terms of 5G,” the next generation wireless technology.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: berkeley lovelace jr jessica bursztynsky, berkeley lovelace jr, jessica bursztynsky
Keywords: news, cnbc, companies, president, think, china, trade, companies, going, cramer, ceo, ceos, week, trump, reaction, tariffs, stop, stupid, war


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China and Huawei need US more than America needs them in 5G wireless race, say industry insiders

President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday. CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the disc


President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday. CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the disc
China and Huawei need US more than America needs them in 5G wireless race, say industry insiders Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, national, industry, banker, say, needs, wellknown, america, investment, chinese, china, wireless, race, need, ceo, huawei, telecom, insiders, war


China and Huawei need US more than America needs them in 5G wireless race, say industry insiders

President Donald Trump’s new order effectively blacklisting Huawei, the Chinese telecommunications networking equipment maker and smartphone giant, from the U.S. market will not hurt America in the race to build out next-generation 5G wireless technology, a well-known CEO and a top telecom investment banker who did not want to be identified told CNBC on Friday.

CNBC’s Joe Kernen reported on two emails he received from a “well-known CEO” and a “really smart telecom investment banker,” as the discussion on “Squawk Box ” turned to the president’s latest salvo in the U.S.-China trade war, a national emergency declaration over threats against American technology.

The move announced Wednesday states, among other requirements, that U.S. firms must seek government approval before doing business with Huawei. The Trump administration alleges that Huawei poses a national security threat because of close ties to the communist Chinese government.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: matthew j belvedere
Keywords: news, cnbc, companies, national, industry, banker, say, needs, wellknown, america, investment, chinese, china, wireless, race, need, ceo, huawei, telecom, insiders, war


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Pinterest CEO: We’re in growth phase of our business

Pinterest CEO: We’re in growth phase of our business47 Mins Ago”We’re trying to be transparent and … we want to focus on the long term,” CEO Ben Silbermann says.


Pinterest CEO: We’re in growth phase of our business47 Mins Ago”We’re trying to be transparent and … we want to focus on the long term,” CEO Ben Silbermann says.
Pinterest CEO: We’re in growth phase of our business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17
Keywords: news, cnbc, companies, transparent, phase, pinterest, trying, mins, growth, long, business, ceo, silbermann, term


Pinterest CEO: We're in growth phase of our business

Pinterest CEO: We’re in growth phase of our business

47 Mins Ago

“We’re trying to be transparent and … we want to focus on the long term,” CEO Ben Silbermann says.


Company: cnbc, Activity: cnbc, Date: 2019-05-17
Keywords: news, cnbc, companies, transparent, phase, pinterest, trying, mins, growth, long, business, ceo, silbermann, term


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Pinterest CEO after earnings report tumble: We’re in the growth phase of our business

The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected. Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that


The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected. Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that
Pinterest CEO after earnings report tumble: We’re in the growth phase of our business Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: tyler clifford
Keywords: news, cnbc, companies, billion, transparent, revenue, build, report, phase, tumble, advertising, earnings, business, users, growth, really, companys, pinterest, ceo, silbermann, share


Pinterest CEO after earnings report tumble: We're in the growth phase of our business

Pinterest CEO Ben Silbermann told CNBC’s Jim Cramer on Friday that the company’s leadership will continue to be transparent and focus on the company’s long-term trajectory — despite a tumble after the company’s first quarterly report as a public company.

Silbermann sat down with the “Mad Money” host a day after delivering Pinterest’s first quarterly results to shareholders since going public last month. The stock dropped nearly 14% during the session after the company posted a wider loss per share than Wall Street expected.

“We’re not trying to set expectations artificially low and go above them,” he said. “We’re trying to be transparent, and I think that the consistent thing you’ll hear from me … is that we want to focus on the long term.”

Pinterest reported a loss per share of 32 cents, compared with Refinitiv consensus estimate of 11 cents per share. However, the social media platform beat revenue estimates by $1.3 million. Revenue grew 54% year over year, Silbermann noted.

Monthly active users also grew by 22% from the same period the year prior. Silbermann said users come to the app for ideas around planning meals, wardrobe and home decor, among other things.

“We’re definitely in the growth phase of our business. We’ve tried to be very transparent and clear,” he said.

Pinterest is working with retailers and consumer packaged goods companies and is working on expanding to small- and medium-sized businesses and internationally, Silbermann said.

“We want to build the best place to get inspiration,” he said. “We want to build personalization, the best visual discovery tools, and then we want to make sure that if you see something you like, we can actually help you make it into reality.”

Pinterest is connecting its 291 million global users directly to businesses, Silbermann said. Two in three users come from outside the United States, he added. The technology company is building advertising tools that can present products to people at their finger tips and present metrics to business clients, he said.

Pinterest expanded its advertising markets from seven to 13 in the quarter, he added.

“That alignment has been really important as we build out advertising solutions,” Silbermann said. “If, for example, you’re finding new clothes to wear or if you’re redecorating your house, ads can actually be really, really helpful to turn that inspiration into something in your real life.”

Pinterest is forecasting between $1.06 billion and $1.08 billion in revenue for the full year 2019, which would mark its first $1 billion year. Analysts are projecting $1.07 billion.


Company: cnbc, Activity: cnbc, Date: 2019-05-17  Authors: tyler clifford
Keywords: news, cnbc, companies, billion, transparent, revenue, build, report, phase, tumble, advertising, earnings, business, users, growth, really, companys, pinterest, ceo, silbermann, share


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

SoFi CEO reveals what he learned about millennial stock investing habits

Early investors tend to buy stocks that are less than $10, SoFi CEO Anthony Noto said Thursday. “They want to put a small amount of money sort of buying things that don’t cost a lot of dollars.” The millennial generation, made up of people born roughly between the early 1980s and late 1990s, includes many of the early investors. “That enabled us to launch these new products, like SoFi Money and give a great interest rate at 2.25% and help people get their money right,” he said. SoFi is a financi


Early investors tend to buy stocks that are less than $10, SoFi CEO Anthony Noto said Thursday. “They want to put a small amount of money sort of buying things that don’t cost a lot of dollars.” The millennial generation, made up of people born roughly between the early 1980s and late 1990s, includes many of the early investors. “That enabled us to launch these new products, like SoFi Money and give a great interest rate at 2.25% and help people get their money right,” he said. SoFi is a financi
SoFi CEO reveals what he learned about millennial stock investing habits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: tyler clifford
Keywords: news, cnbc, companies, reveals, things, money, theyre, early, sofi, investing, great, habits, stock, learned, noto, ceo, dont, millennial, financial


SoFi CEO reveals what he learned about millennial stock investing habits

Early investors tend to buy stocks that are less than $10, SoFi CEO Anthony Noto said Thursday.

They’re buying up recognizable names such as Ford Motor and General Electric, two centenarian corporations that are trading on the market for just above $10 per share.

“It’s a representation that they don’t want to put a lot of money at risk,” Noto said in an interview with “Mad Money’s” Jim Cramer. “They want to put a small amount of money sort of buying things that don’t cost a lot of dollars.”

The millennial generation, made up of people born roughly between the early 1980s and late 1990s, includes many of the early investors. They’re also likely to pick up on some of the hottest IPOs that they’re using, such as Uber and Lyft, he added.

“They’re focused on investing in things that they’re contributing to and things that they know, like these gig economy companies, but they’re also investing in things that they basically don’t use but are at a price point that allows them to get into the market and learn,” Noto said. “So we launched two ETFs that give them broad-based diversification.”

SoFi in recent months rolled out a suite of their own exchange-traded funds, which is a basket of underlying assets that trade throughout a session. Those include the SoFi Gig Economy ETF, tracking stocks of gig-oriented companies, on the Nasdaq Composite and the SoFi 50 ETF, tracking 50 of the top 1,000 high-growth U.S. companies, on the New York Stock Exchange.

Prior to those launches, SoFi also released an investing platform free of fees and commissions. SoFi Invest also carries all four of the financial technology firm’s ETFs. The mobile application uses artificial intelligence and machine learning, and also offers users financial education.

“You can get that diversification at a low allocation of money. It was an interesting learning,” Noto said. “It’s an imperative you invest in your twenties. If you miss those 10 years, that decade, you really have to catch up later on.”

To have a diversified portfolio, Cramer advises not to have more than 20% of your holdings in any one sector.

SoFi, the online lender that ranks No. 26 on this year’s CNBC Disruptor 50 list, launched in 2011 to refinance student loans.

More from CNBC Disruptor 50:

A big breakthrough in feeding the world may be spotted from outer space

Inside Impossible Foods’ mission to create the burger of the future

Why the next Uber may come from trucking

Since then the company has added more services that a traditional bank would have, including checking accounts, mortgages and renter’s insurance. As the ride-sharing apps did to ride-hailing services, it’s a technology that’s changing how customers engage in banking.

In the last 15 months, SoFi has made “great progress” and recorded its first “trifecta” in its last quarter, Noto said. The company grew revenue, loan volume and profitability, he said.

“That enabled us to launch these new products, like SoFi Money and give a great interest rate at 2.25% and help people get their money right,” he said. “We’ve meaningfully changed the core business of the company.”

As for when the company may enter public markets itself, “we’re focused on building great products first and someday that may come,” Noto said.

SoFi is a financial institution based in San Francisco with $1.9 billion in funding and a $4.4 billion valuation, according to PitchBook.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: tyler clifford
Keywords: news, cnbc, companies, reveals, things, money, theyre, early, sofi, investing, great, habits, stock, learned, noto, ceo, dont, millennial, financial


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post