Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut

Drew Angerer | Getty ImagesSluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. Slower economyAs earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was


Drew Angerer | Getty ImagesSluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. Slower economyAs earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was
Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: patti domm
Keywords: news, cnbc, companies, await, investors, trade, gdp, market, rate, cut, roth, fed, expected, companies, earnings, growth, sluggish, quarter, week


Week ahead: Earnings, GDP expected to show sluggish growth as investors await rate cut

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE), January 2, 2019. Drew Angerer | Getty Images

Sluggish economic and earnings growth will be a theme in markets in the week ahead, as investors await a Fed interest rate cut at the end of the month. More than a quarter of the S&P 500 companies report earnings in the coming week, the second big week of the second quarter reporting season. FAANG names, like Alphabet and Amazon, and blue chips from McDonald’s to Boeing and United Technologies are among the more than 130 companies reporting. There is also some key economic data, including Friday’s second quarter GDP, which should show a slowing to 1.8% from the first quarter’s 3.1% pace, according to Refinitiv. On Thursday, durable goods are reported and will include an update on businesses investment. There are also existing home sales Tuesday, new home sales Wednesday and advance economic indicators Thursday. But there will be no Fed speakers, after a parade of central bank officials in the past week, including Fed Chair Jerome Powell. The most impactful comments, however, came Thursday from New York Fed President John Williams, who set off a debate about how much the Fed could cut rates at its July 30-31 meeting — 25 or 50 basis points. Even as the New York Fed later said Williams comments were not about current policy, market pros took heed of his words about how central bankers should “act quickly.”

Fed dominates

Fed officials do not speak publicly in the days ahead of policy meetings, but market pros will find plenty to debate. Fed funds futures were predicting a 43% chance of a 50 basis point cut in July, after shooting as high as 70% Thursday afternoon. “For sure, the Fed is going to dominate for next week. I think we’ll get at least a 25 basis point cut. I’m thinking we’re not going to get 50 basis point cut…The Fed has been burned when it’s been bold,” said Tony Roth, chief investment officer at Wilmington Trust. Roth said he believes the market is already pricing in a quarter-point cut, and he does not see the Fed’s rate cut as much of a longer-term catalyst for stocks. If it trims by a half percentage point, he expects just a short-term pop.

Economists believe the Fed will cut interest rates even though recent data has improved. That’s in part because Powell has stressed the Fed is focused on the global economic slowdown, trade wars and low inflation, and that it will do what it takes to keep the economy expanding. “The only real catalyst that would really help the market would be if there was a trade deal with China,” Roth said. “I think the likelihood of that is less than 10%. We’re very pessimistic on the possibility of a real deal with China prior to the [2020 presidential] election.” So, in the void ahead of the Fed’s meeting, the market will be watching earnings. As earnings rolled out this past week, stocks took a rest from their record-setting streak, as some companies lowered forecasts and most beat earnings and revenue estimates. As of Friday morning, 77% of the roughly 80 companies reporting had beaten earnings estimates, and 65% topped revenue forecasts, according to Refinitiv. Based on actual reports and forecasts, earnings per share for the S&P companies are expected to be up 1% in the second quarter. That is up from expectations that the profit growth would be slightly negative this quarter. “If you look at the numbers, we’re above the averages for top and bottom line beats, but at the same time when you look at revisions, every day we’re getting revisions for third and fourth quarter, and they’re coming down.There’s a real worry of an earnings recession, when you get out into the third and fourth quarter and out to next year,” Roth said. Roth said he’s currently neutral on risk assets, and he sees a slowdown brewing in the smallest U.S. companies that could spread up the food chain. “We do see those fundamental cracks in the economy in small business and the small business labor market, and on top of that you have these big macro risks out there,” such as trade and the upcoming election, Roth said.

Slower economy

As earnings growth was muted in the second quarter, so was the pace of economic gains. If growth comes in as expected, it would be the first quarter where growth was under 2% since the first quarter of 2017. Economists are watching to see how consumer spending fared in the quarter, after a recent pickup and also whether business inventories are declining. “The data we need is not Q2. What’s at risk is the growth and magnitude of the Fed rate cut. I don’t think Q2 is going to have much impact on the Fed’s thinking,” said Marc Chandler, chief market strategist at Bannockburn Global Forex. “It’s really how Q3 is progressing. It seems to me the economy softened in April and May and picked up in June with jobs data, retail sales and manufacturing sector.” Chandler said investors will also be focused on the European Central Bank, which some economists believe could cut its overnight deposit rate to negative 0.5% from negative 0.4% currently when it meets Thursday. Chandler said odds are about 50% for the rate cut, which many also expect in September. “While we’re waiting for the Fed to figure out whether it’s 25 or 50 basis points, and we’re waiting for the ECB to get all its forms sorted out … the emerging markets are pushing ahead,” said Chandler, noting Russia and Turkey could cut rates in the next several days, after similar moves in the past week by South Africa, South Korea and Indonesia. “It just makes the story more global. You’re seeing the trade numbers from China, Japan, Singapore and South Korea weaken. You’re seeing exports form China suffer. Exports from all of Asia are suffering,” he said. “The big surprise for China and Japan has also been on the import side. The declines in their imports is really someone else’s [drop in] exports.”

Rate cuts and currency wars

Dollar strength has been a consequence of the trade war, and Fed action could help turn it around. “If the Fed fails to move, you’re going to end up with an increasingly stronger dollar,” which impacts corporate earnings, Roth said. “The dollar is quite strong and is increasingly going to be a headwind for U.S. companies. It hasn’t appreciated that much in 12 months, but if we see a divergence in monetary policy between the U.S. and the rest of the world, you would see a carry trade develop where people would want to buy assets in the U.S.,” he said. The dollar index was slightly higher on the week, but Wall Street has been focused on President Donald Trump’s negative comments on the currency’s strength. As Trump has criticized the Fed, he also complains that other central banks manipulate their currencies to give them an edge in trade. Trump has said the Fed should already be cutting rates, something it hasn’t done since December 2008. A number of Wall Street strategists have said they now believe it is possible that the U.S. government could intervene to weaken the dollar, but that would be unlikely.

Calendar for the Week Ahead


Company: cnbc, Activity: cnbc, Date: 2019-07-19  Authors: patti domm
Keywords: news, cnbc, companies, await, investors, trade, gdp, market, rate, cut, roth, fed, expected, companies, earnings, growth, sluggish, quarter, week


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Stocks making the biggest moves midday: Netflix, Philip Morris, United Rentals & more

Check out the companies making headlines midday Thursday:Netflix — Netflix shares plunged more than 11% after the video streaming company reported disappointing international user growth. IBM — IBM rose nearly 4% after the company reported better-than-expected earnings as its cloud business grew more than forecast. Analysts polled by Refinitiv expected a profit of $3.07. EBay — Shares of the e-commerce company rose 2.1% after reporting better-than-expected results as eBay attracts more users. Th


Check out the companies making headlines midday Thursday:Netflix — Netflix shares plunged more than 11% after the video streaming company reported disappointing international user growth. IBM — IBM rose nearly 4% after the company reported better-than-expected earnings as its cloud business grew more than forecast. Analysts polled by Refinitiv expected a profit of $3.07. EBay — Shares of the e-commerce company rose 2.1% after reporting better-than-expected results as eBay attracts more users. Th
Stocks making the biggest moves midday: Netflix, Philip Morris, United Rentals & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: fred imbert
Keywords: news, cnbc, companies, stocks, moves, quarter, netflix, rentals, making, share, billion, midday, philip, morris, earnings, refinitiv, company, biggest, united, rose, reported, expected, sales


Stocks making the biggest moves midday: Netflix, Philip Morris, United Rentals & more

Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, May 31, 2019.

Check out the companies making headlines midday Thursday:

Netflix — Netflix shares plunged more than 11% after the video streaming company reported disappointing international user growth. Netflix said it added 2.83 million international paying users, well below a FactSet estimate of 4.81 million. The company also posted a surprising loss of U.S. users.

IBM — IBM rose nearly 4% after the company reported better-than-expected earnings as its cloud business grew more than forecast. The company posted earnings per share of $3.17. Analysts polled by Refinitiv expected a profit of $3.07.

Philip Morris International — Phillip Morris rose 9% after the tobacco company’s second-quarter earnings beat estimates. Philip Morris reported adjusted earnings per share of $1.46 on revenues of $7.7 billion. Analysts polled by Refinitiv had expected earnings per share of $1.32 on revenues of $7.37 billion. Philip Morris said the strong quarter was driven by sales from it heated-tobacco line. The company also increased its full-year adjusted earnings forecast.

Danaher — Danaher ticked up 1.5% after the medical equipment and devices company’s second-quarter results beat estimates. Danaher reported adjusted earnings per share of $1.19 on revenues of $5.16 billion. Analysts had expected earnings per share of $1.16 on revenues of $5.09 billion, according to Refinitiv. Thomas Joyce Jr., the company’s president and CEO, said “recent investments in innovation and commercial initiatives” contributed to the strong results.

EBay — Shares of the e-commerce company rose 2.1% after reporting better-than-expected results as eBay attracts more users. EBay reported earnings per share of 68 cents on revenue of $2.69 billion. Analysts polled by Refinitiv expected a profit of 62 cents a share on sales of $2.68 billion.

Qualcomm — Qualcomm shares dropped 1.7% after the Barclays downgraded it to equal weight from overweight, citing issues related to Huawei. It said it sees “a downside to estimates” for Qualcomm and “can’t fully discount the potential for a worst case scenario that includes a failed appeal/change to license rates.”

Advanced Micro Devices — An analyst at Mizuho downgraded AMD to neutral from buy, citing a high valuation relative to its peers after a monster rally of more than 80% in 2019. The stock traded down 2.8%.

Union Pacific — Union Pacific rose 4.2% after beating Wall Street earnings expectations for the second quarter. The railroad company reported $2.22 in earnings per share, topping analyst expectations of $2.14 per share, according to Refinitiv. Union Pacific improved its operating ratio year on year, reporting 59.6% on the profitability measure, 3.4 points better than the same quarter in 2018.

United Rentals — The equipment rentals company slid 6.5% after the company cut the high end of its revenue guidance for the year. United Rentals expects full-year revenue to range between $9.15 billion and $9.45 billion. The company previously expected full-year sales to range between $9.15 billion and $9.55 billion. “Our updates to guidance reflect a slightly slower than expected pace for the BlueLine integration, as well as historically bad weather in several key regions this past quarter,” CEO Michael Flannery said.

Taiwan Semiconductor — Taiwan Semiconductor’s shares rose 2% after it announced a 21.9% sales increase in June and a 3.3% year over year revenue increase in its quarterly report. The company’s profits have been declining, with a fall of 31.6% in the first quarter — its steepest fall in seven years, but this quarter’s sales were only 7.6% less than the same period last year, a sign that its sales difficulties may be easing.

—CNBC’s Elizabeth Myong, Mallika Mitra, Jesse Pound and Marc Rod contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: fred imbert
Keywords: news, cnbc, companies, stocks, moves, quarter, netflix, rentals, making, share, billion, midday, philip, morris, earnings, refinitiv, company, biggest, united, rose, reported, expected, sales


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Netflix is set to report earnings after the bell

Netflix is expected to release its earnings report for its second quarter of 2019 after the bell on Wednesday. Already, Netflix is preparing to part ways with two of its most-watched shows, “The Office” and “Friends,” according to analytics firm Jumpshot. CNBC previously reported that Netflix was willing to pay up to $90 million a year for the rights. Netflix previously spent $80 million to keep “Friends” just through the end of this year, according to Vulture. Netflix previously said 2019 would


Netflix is expected to release its earnings report for its second quarter of 2019 after the bell on Wednesday. Already, Netflix is preparing to part ways with two of its most-watched shows, “The Office” and “Friends,” according to analytics firm Jumpshot. CNBC previously reported that Netflix was willing to pay up to $90 million a year for the rights. Netflix previously spent $80 million to keep “Friends” just through the end of this year, according to Vulture. Netflix previously said 2019 would
Netflix is set to report earnings after the bell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: lauren feiner
Keywords: news, cnbc, companies, previously, forecast, earnings, expected, friends, million, set, billion, bell, streaming, refinitiv, netflix, report


Netflix is set to report earnings after the bell

Reed Hastings attends Reed Hastings panel during Netflix ‘See What’s Next’ event at Villa Miani on April 18, 2018 in Rome, Italy.

Netflix is expected to release its earnings report for its second quarter of 2019 after the bell on Wednesday.

Here are the key numbers:

Earnings per share: 56 cents expected, per Refinitiv consensus estimate

56 cents expected, per Refinitiv consensus estimate Revenue: $4.93 billion expected, per Refinitiv

$4.93 billion expected, per Refinitiv Domestic paid subscriber additions: 352,000, forecast by FactSet

352,000, forecast by FactSet International paid subscriber additions: 4.81 million, forecast by FactSet

The report is a chance for Netflix to prove how it plans to compete against legacy media companies that are now expanding into streaming. As Disney, AT&T’s WarnerMedia, and Comcast’s NBCUniversal all plan to launch direct-to-consumer streaming services by the first quarter of 2020, Netflix stands to lose both content and customers. Already, Netflix is preparing to part ways with two of its most-watched shows, “The Office” and “Friends,” according to analytics firm Jumpshot.

NBC announced in June that it plans to remove “The Office” from Netflix in 2021 and move it to its own streaming service. CNBC previously reported that Netflix was willing to pay up to $90 million a year for the rights. In the end, NBC beat the offer and agreed to pay $100 million.

Earlier this month, WarnerMedia announced its new streaming service, HBO Max, will include exclusive rights to stream “Friends” when it launches publicly in the spring of 2020. Netflix previously spent $80 million to keep “Friends” just through the end of this year, according to Vulture.

The threat of new streaming services has highlighted the importance of creating proprietary content for Netflix. The company has been on a spending tear, fueling its cash burn by twice offering $2 billion in debt since October. Netflix previously said 2019 would be its peak year for cash burn. It later revised that statement to say its cash flow would be consistent with the negative $3 billion of the prior year.

Netflix has raised its prices to help offset its costs, but has resisted pressure to bring in advertising. While industry executives anticipate Netflix will someday have ads, a recent study found that 23% of respondents would definitely or probably drop their subscription if it began running ads at its current price or a dollar cheaper.

Disclosure: Comcast owns NBCUniversal, the parent company of CNBC and NBC.

Subscribe to CNBC on YouTube.

WATCH: Netflix’s DVD business is still alive and profitable — here’s what it looks like


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: lauren feiner
Keywords: news, cnbc, companies, previously, forecast, earnings, expected, friends, million, set, billion, bell, streaming, refinitiv, netflix, report


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After a great start to earnings season, overall profits are no longer expected to decline

The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou


The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled ou
After a great start to earnings season, overall profits are no longer expected to decline Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
Keywords: news, cnbc, companies, expected, season, earnings, companies, think, 500, great, week, market, start, bell, profits, longer, sp, secondquarter, stock, decline, overall


After a great start to earnings season, overall profits are no longer expected to decline

Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange. Drew Angerer | Getty Images

Corporate earnings forecasts for the second quarter were lowered so much that companies are easily beating them, and expectations for negative profit growth are already expected to turn positive, after just the first several dozen reports. The earnings season began this week, with 43 S&P 500 companies reporting as of Wednesday morning, and a whopping 84% beating analysts’ estimates. Refinitiv’s S&P 500 earnings growth forecast had been negative 0.3% at one point, but with the actual reports and forecasts for the rest of the S&P, second-quarter earnings look set to grow about 0.4%, a number that could continue to rise. Actual reported earnings of the 9% of the S&P that have reported are up 8.8%. “No matter what the economic circumstances are, no matter what the backdrop is, there’s this dynamic that companies like to lowball and analysts like to give them headroom,” said Ed Keon, chief investment strategist at QMA. “The fact that numbers are coming in better than expected — it’s been the case for decades now.” The stock market, meanwhile, has traded sideways to slightly lower on thin volume this week, as earnings rolled out. “After such a great run and the summer doldrums, I wouldn’t be surprised to see a modest pullback here. I guess the way to think about it is we’re a little cautious, but we think stock prices will work higher over the course of the year,” said Keon.

Will the good trend continue?

The S&P 500 is up about 19.5% for the year so far, and for July, it is up 1.8% after a 7% gain in the month of June. “I think the market should kind of digest things,” said CFRA investment strategist Lindsey Bell. “Second quarter is pretty good so far. It’s still fairly early in the earnings season. I think the managers are being fairly cautious as they provide guidance for the rest of the year.” But Bell said the market may not continue to take all earnings reports in stride and could sell off when industrial companies begin to report. Those companies could discuss the negative impact of trade wars on profits and revenues, like Fastenal did last week when it said its price increases could not offset higher costs. “As we get more industrials in the next couple of weeks, I think that will create more volatility and drive the market lower in the near term. You look at CSX’s end market, and its autos, chemicals and metals. Chemicals and metals are two areas where I expect pressure,” she said. She added that industrials had rallied along with the market in the last month. Railroad company CSX reported lower-than-expected profits Tuesday afternoon, and its revenues fell short, declining to $3.06 billion from $3.1 billion. Its stock plunged more than 10% Wednesday after it lowered its guidance and its CEO, James Foote, blamed its performance on economic conditions, saying, “the present economic backdrop is one of the most puzzling I have experienced in my career.” “I think you’re going to see that third-quarter numbers come down and the fourth-quarter will come down. Second-quarter were lowered enough,” said Bell. She noted that S&P Capital IQ is now expecting a decline of just over 1% in second-quarter S&P 500 profits, from an earlier 2% decline. “The beats from the banks have been pretty solid. I think we’re going to get closer to 2 to 2.5% positive growth in the second quarter.”

Tech earnings ahead


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: patti domm
Keywords: news, cnbc, companies, expected, season, earnings, companies, think, 500, great, week, market, start, bell, profits, longer, sp, secondquarter, stock, decline, overall


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The economic signs are moving against the Fed’s expected rate cut: ‘It just doesn’t smell right’

Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals. “It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. Indeed, the latest data points to soli


Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals. “It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. Indeed, the latest data points to soli
The economic signs are moving against the Fed’s expected rate cut: ‘It just doesn’t smell right’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jeff cox
Keywords: news, cnbc, companies, fed, sales, expected, solid, right, signs, smell, moving, cut, feds, doesnt, economic, policy, monetary, easing, data, rate


The economic signs are moving against the Fed's expected rate cut: 'It just doesn't smell right'

If the Federal Reserve follows through on strong hints that it will be cutting interest rates in late July, it will do so in the face of a powerful consumer, a record-breaking stock market and an increasingly difficult case to make for easier monetary policy.

Justifying a policy easing against that kind of a backdrop might be tricky for the Fed, even though markets fully expect a cut this month plus perhaps two more before the end of the year. The central bank is not normally in the business of easing into an economy that is showing few signs of a recession, generally holding fire until more pronounced signs of a slowdown are in view.

But this is not a normal time in the world of monetary policy, and the Fed is likely to follow though despite the solid economic signals.

“It just doesn’t smell right given the strength of the economic data,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “The consumer is back in a big way. You really have to ask yourself why they are going to cut rates.”

Indeed, the latest data points to solid consumers, who accounted for 67.4% of economic activity in the first quarter.

Retail sales rose 0.4% in June, according to Commerce Department figures that easily topped the 0.1% expected gain. On a year-over-year basis, sales increased 3.4%.


Company: cnbc, Activity: cnbc, Date: 2019-07-17  Authors: jeff cox
Keywords: news, cnbc, companies, fed, sales, expected, solid, right, signs, smell, moving, cut, feds, doesnt, economic, policy, monetary, easing, data, rate


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‘Sleep box’ Mark Zuckerberg invented launched on Kickstarter, raised more than $100,000 so far

Greg Hovannisyan did just that — he and a team engineers and builders developed a prototype for Zuckerberg’s sleep box and launched a Kickstarter campaign to fund the production in June. When Mark Zuckerberg throws out an idea for a business, it doesn’t take long for an entrepreneur to turn it into a reality. Early bird pricing for the basic Zucklight is $29, which is more than half off the expected $60 retail price, according to the Kickstarter campaign. Early bird pricing for the Zucklight Plu


Greg Hovannisyan did just that — he and a team engineers and builders developed a prototype for Zuckerberg’s sleep box and launched a Kickstarter campaign to fund the production in June. When Mark Zuckerberg throws out an idea for a business, it doesn’t take long for an entrepreneur to turn it into a reality. Early bird pricing for the basic Zucklight is $29, which is more than half off the expected $60 retail price, according to the Kickstarter campaign. Early bird pricing for the Zucklight Plu
‘Sleep box’ Mark Zuckerberg invented launched on Kickstarter, raised more than $100,000 so far Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: catherine clifford
Keywords: news, cnbc, companies, light, sleep, hovannisyan, 100000, raised, mark, kickstarter, launched, invented, team, far, box, expected, according, zucklight, product, retail, zuckerberg


'Sleep box' Mark Zuckerberg invented launched on Kickstarter, raised more than $100,000 so far

Greg Hovannisyan did just that — he and a team engineers and builders developed a prototype for Zuckerberg’s sleep box and launched a Kickstarter campaign to fund the production in June.

Zuckerberg said “a bunch” of his friends seemed interested in having one, so he posted his creation on Facebook “in case another entrepreneur wants to run with this and build sleep boxes for more people,” he said.

In April, the Facebook CEO shared that he built his wife, Priscilla Chan, a device he called a “sleep box,” a wooden box that sits on the bedside table and emits a soft light between the hours of 6 a.m. and 7 a.m., when it’s time to go get theit kids. That way Chan doesn’t have to constantly wake up and check the time on her phone.

When Mark Zuckerberg throws out an idea for a business, it doesn’t take long for an entrepreneur to turn it into a reality.

By May 18, Hovannisyan had a prototype, on June 13 he launched the Kickstarter campaign and with 27 days left it has already raised $108,000, more than 21 times its $5,000 goal.

In fact, two hours after launching on Kickstarter, the project was fully funded, a spokesperson for the company tells CNBC Make It. Hovannisyan has also received partnership offers from “various” distributors, according to the spokesperson, who declined to disclose specifics.

Hovannisyan hosted an online question-and-answer session about Zucklight on the popular product innovation discussion platform Product Hunt on July 3 and it was the No. 1 product of the day, which is a ranking determined by community votes.

Hovannisyan and the founding team are Armenian, so the Zucklight is being developed by team of engineers in Armenia. The company’s headquarters, meanwhile, are in New Jersey.

Early bird pricing for the basic Zucklight is $29, which is more than half off the expected $60 retail price, according to the Kickstarter campaign. Early bird pricing for the Zucklight Plus, which includes wireless charging, is $39, which is more than half off the expected retail price of $80. The Zucklight Pro, which has wireless as well as environmental sensors to measure the level of humidity, carbon dioxide and temperature in the room as well as alerts, is available to early bird backers for $47 and is expected to retail at $100.

The Zucklight comes in light oak, mahogany or white aspen and customers can select the color and brightness for the light with a related app. The color of the light can be programmed to change as time progresses, so it can glow green at 6 a.m. and red at 7 a.m., for example, according to a video accompanying the campaign.

As of Tuesday, 1,951 backers have contributed $108,313.

Prior to launching Zucklight, Hovannisyan has invested in IT and specifically security technology. In 2006, he started a technology security and networking company which does work for, among other customers, government offices, according to his bio on Kickstarter.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: catherine clifford
Keywords: news, cnbc, companies, light, sleep, hovannisyan, 100000, raised, mark, kickstarter, launched, invented, team, far, box, expected, according, zucklight, product, retail, zuckerberg


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Retailers should thank Amazon: Adobe estimates the size of a Prime Day bump

Amazon’s Prime Day is fueling other retailers’ online sales, an early reading shows. Adobe said Amazon’s Prime Day is now the third period outside of the holiday season during which online sales in the U.S. will top $2 billion, like they did on Labor Day last year and Memorial Day this year. Amazon’s Prime Day kicked off at 3 a.m. Last year, Prime Day lasted 36 hours. Amazon also said that its sellers worldwide on Monday had the biggest 24-hour sales day in the company’s history, with millions o


Amazon’s Prime Day is fueling other retailers’ online sales, an early reading shows. Adobe said Amazon’s Prime Day is now the third period outside of the holiday season during which online sales in the U.S. will top $2 billion, like they did on Labor Day last year and Memorial Day this year. Amazon’s Prime Day kicked off at 3 a.m. Last year, Prime Day lasted 36 hours. Amazon also said that its sellers worldwide on Monday had the biggest 24-hour sales day in the company’s history, with millions o
Retailers should thank Amazon: Adobe estimates the size of a Prime Day bump Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren thomas
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Retailers should thank Amazon: Adobe estimates the size of a Prime Day bump

Amazon’s Prime Day is fueling other retailers’ online sales, an early reading shows.

On Monday, the first day of Amazon’s 48-hour shopping extravaganza this year, retailers that make more than $1 billion in annual revenues saw a 64% increase in their digital sales compared with an average Monday, according to Adobe Analytics. That’s better than a 54% spike last year, said Adobe, which measures transactions at 80 of the top 100 internet retailers in the U.S.

Niche retailers, which Adobe classifies as those that bring in less than $5 million in annual sales, saw a 30% increase in online sales on Monday, according to the firm.

Adobe said Amazon’s Prime Day is now the third period outside of the holiday season during which online sales in the U.S. will top $2 billion, like they did on Labor Day last year and Memorial Day this year.

Amazon’s Prime Day kicked off at 3 a.m. ET on Monday and runs for 48 hours, the longest in the event’s history. Last year, Prime Day lasted 36 hours.

Other retailers including Walmart, Target, eBay, Macy’s and Best Buy have been touting deals this week to compete. Target is pushing discounts for its in-house home goods brands. Walmart is expected to run deals, on everything from Google Home smart speakers to Instant Pots, through Wednesday this week.

More than 250 retailers altogether are expected to have sales going on to try to take advantage of the surge of web traffic around Prime Day, according to RetailMeNot, which tracks coupons online.

To be sure, it’s unclear if shoppers are actually buying more around Prime Day through impulse purchases, or if they’re just buying things now that they would’ve normally purchased later in the year. If the latter is the case, the week could end up only stealing sales from the back-to-school and holiday shopping seasons.

A study from Deloitte already shows back-to-school spending is expected to be about flat with last year, as more consumers are feeling price sensitive.

Amazon also said that its sellers worldwide on Monday had the biggest 24-hour sales day in the company’s history, with millions of Alexa-enabled devices already sold.

Amazon shares are up more than 34% this year, bringing its market cap to more than $995 billion.


Company: cnbc, Activity: cnbc, Date: 2019-07-16  Authors: lauren thomas
Keywords: news, cnbc, companies, size, billion, adobe, thank, bump, retailers, sales, amazon, expected, amazons, according, estimates, online, prime, day


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United Auto Workers union opens tense labor talks with Ford, GM, Fiat Chrysler

Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. DEARBORN, Mich. — Billions of dollars in investments and the viability of the U.S. auto industry are on the line this year as the Big Three Detroit automakers kick off negotiations with the United Auto Workers union with a ceremonial handshake at Ford’s headquarters Monday. EVs, according to the UAW, take less labor to build


Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan. DEARBORN, Mich. — Billions of dollars in investments and the viability of the U.S. auto industry are on the line this year as the Big Three Detroit automakers kick off negotiations with the United Auto Workers union with a ceremonial handshake at Ford’s headquarters Monday. EVs, according to the UAW, take less labor to build
United Auto Workers union opens tense labor talks with Ford, GM, Fiat Chrysler Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: michael wayland
Keywords: news, cnbc, companies, labor, tense, united, fiat, industry, opens, auto, union, negotiations, gm, president, workers, uaw, mich, expected, ford, talks


United Auto Workers union opens tense labor talks with Ford, GM, Fiat Chrysler

Gary Jones, the newly-elected President of the United Auto Workers (UAW), addresses the 37th UAW Constitutional Convention June14, 2018 at Cobo Center in Detroit, Michigan.

DEARBORN, Mich. — Billions of dollars in investments and the viability of the U.S. auto industry are on the line this year as the Big Three Detroit automakers kick off negotiations with the United Auto Workers union with a ceremonial handshake at Ford’s headquarters Monday.

The talks are expected to be the most contentious in a decade amid “America first” policies from the Trump administration, a tight labor market and thousands of job cuts and cost reductions as the industry prepares for an expected economic downturn.

Adding to the tension is a shift to emerging technologies such as electric and autonomous vehicles. EVs, according to the UAW, take less labor to build and puts an estimated 35,000 or more jobs at risk.

Union leaders said this year’s negotiations will set the wages and benefits for about 158,000 members. The outcome will also help steer investment plans for General Motors, Ford and Fiat Chrysler in the U.S. for the next several years.

“The biggest tool that they’ve got is to strike,” said Kristin Dziczek, vice president of industry, labor and economics at the Center for Automotive Research in Ann Arbor, Mich. “It wouldn’t be too far of a stretch to say they’re willing to go there.”


Company: cnbc, Activity: cnbc, Date: 2019-07-15  Authors: michael wayland
Keywords: news, cnbc, companies, labor, tense, united, fiat, industry, opens, auto, union, negotiations, gm, president, workers, uaw, mich, expected, ford, talks


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European stocks close flat following euro zone, China data; Thomas Cook plunges 60%

European stocks closed flat on Friday as investors reacted to new Chinese trade data and euro zone industrial production figures. The pan-European Stoxx 600 was in positive territory at the closing bell, chemicals stocks leading the gains with a 1.2% climb while autos recovered from an early fall to trade 0.8% higher. An official report Friday revealed that China’s exports fell less than expected in June, with dollar-denominated exports falling 1.3% from the same period a year ago. EU statistics


European stocks closed flat on Friday as investors reacted to new Chinese trade data and euro zone industrial production figures. The pan-European Stoxx 600 was in positive territory at the closing bell, chemicals stocks leading the gains with a 1.2% climb while autos recovered from an early fall to trade 0.8% higher. An official report Friday revealed that China’s exports fell less than expected in June, with dollar-denominated exports falling 1.3% from the same period a year ago. EU statistics
European stocks close flat following euro zone, China data; Thomas Cook plunges 60% Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: chloe taylor elliot smith, chloe taylor, elliot smith
Keywords: news, cnbc, companies, zone, euro, thomas, cook, trade, stocks, stock, production, month, expected, following, european, plunges, flat, data, period, billion


European stocks close flat following euro zone, China data; Thomas Cook plunges 60%

European stocks closed flat on Friday as investors reacted to new Chinese trade data and euro zone industrial production figures.

The pan-European Stoxx 600 was in positive territory at the closing bell, chemicals stocks leading the gains with a 1.2% climb while autos recovered from an early fall to trade 0.8% higher. Health care was the worst performing sector, shedding 1.3%.

An official report Friday revealed that China’s exports fell less than expected in June, with dollar-denominated exports falling 1.3% from the same period a year ago. Economists polled by Reuters had expected a 2% decline on the back of the ongoing trade war with the U.S.

Euro zone industrial production rose more than expected in May, data showed on Friday, offsetting declines over the past two months and defying gloomy forecasts caused by prolonged trade tensions. EU statistics agency Eurostat said euro zone factory output grew by 0.9% in May on the month, exceeding modest market expectations of a 0.2% rise.

Daimler stock was down 0.6% by the end of the session, after the German carmaker warned investors to expect a second-quarter loss before interest and taxes of 1.6 billion euros ($1.8 billion) after a 2.6 billion euro profit posted in the same period last year.

Meanwhile, Deutsche Bank shares received a welcome reprieve, rising 2.5% after UBS became the first broker to upgrade the German lender’s stock following a mass restructuring effort.

Investors are also processing mixed messages from the U.S. Federal Reserve after Chairman Jerome Powell kept the focus Thursday on global risks which could trigger a rate cut this month, while colleagues from regional Fed districts painted a rosier picture of continued U.S. growth and a solid business outlook.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: chloe taylor elliot smith, chloe taylor, elliot smith
Keywords: news, cnbc, companies, zone, euro, thomas, cook, trade, stocks, stock, production, month, expected, following, european, plunges, flat, data, period, billion


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Asia stocks edge up; China’s June exports fall less than expected

Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants. The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while


Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants. The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while
Asia stocks edge up; China’s June exports fall less than expected Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: eustance huang
Keywords: news, cnbc, companies, close, higher, trade, fell, trading, stocks, exports, chinas, showed, expected, index, declined, edge, fall, asia


Asia stocks edge up; China's June exports fall less than expected

Stocks in major Asian stock markets mostly closed higher on Friday. Meanwhile, China’s trade with the U.S. declined in the first half of the year, amid an impasse between the two economic giants.

The Nikkei 225 in Japan closed 0.2% higher at 21,685.90, while the Topix index fell 0.15% to end its trading day at 1,576.31. Over in South Korea, the Kospi advanced 0.29% to close at 2,086.66.

Australia’s S&P/ASX 200 slipped 0.29% to close at 6,696.50.

Mainland Chinese stocks rose on the day, with the Shanghai composite up 0.44% to 2,930.55 and the Shenzhen composite 0.506% higher to 1,556.77. The Shenzhen component also gained 0.66% to close at 9,213.38.

Hong Kong’s Hang Seng index added 0.23%, as of its final hour of trading. Overall, MSCI’s broadest index of Asia-Pacific shares outside Japan declined fractionally.

Data on Friday showed that China’s dollar-denominated exports fell 1.3% in June from a year ago while imports fell 7.3% in the same period. Economists polled by Reuters had expected China’s June exports to have declined 2% from a year ago, while imports were expected to have contracted 4.5% from a year earlier.

In the first half of the year, China’s total trade with the U.S. was down 9%, customs data showed.


Company: cnbc, Activity: cnbc, Date: 2019-07-12  Authors: eustance huang
Keywords: news, cnbc, companies, close, higher, trade, fell, trading, stocks, exports, chinas, showed, expected, index, declined, edge, fall, asia


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