Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros. The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report. Revenue for the company’s fourth q


Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.
The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.
Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.
Revenue for the company’s fourth q
Siemens posts profit beat but strikes gloomy tone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


Siemens posts profit beat but strikes gloomy tone

Siemens on Thursday posted industrial operating profit of 2.64 billion euros ($2.92 billion) for its fourth quarter, beating analyst expectations of 2.33 billion euros.

The figure represents a 20% rise in the three months to the end of September on the back of a substantial increase in large orders.

However, the German conglomerate offered a cautious tone for 2020, warning of an expected weakening in the global economy over the next 12 months and projecting a slowdown for its short-cycle automotive and machinery products.

“The weakening of the global economy accelerated clearly during fiscal 2019. Nevertheless, we were again able to underscore Siemens’ performance aspiration with a brilliant fourth quarter,” Siemens CEO Joe Kaeser said in the earnings report.

“We fully achieved our fiscal-year guidance in all aspects! Our Vision 2020+ strategic concept is beginning to get traction.”

Revenue for the company’s fourth quarter came in at 24.5 billion euros, an 8% increase year-on-year, while orders rose 4% to 24.7 billion euros.

Speaking to CNBC’s “Squawk Box Europe” Thursday morning, Kaeser said political leadership was “going backwards” by shifting trade and economic policy towards nationalization and protectionism, but suggested that international powerhouses like Siemens were “one notch above territorial boundaries.”

“We can allocate resources at any given point in time, so I am rather optimistic that exactly those companies who are so widely localized will actually be the ones who can get over these geopolitical matters.”

Despite the prospect of the U.S. pulling out of the Paris Climate Accord, Kaeser said his customers stateside, from oil and gas and automotive companies to hospitals, were all concerned about reducing emissions.

“As much as I welcome and admire activities from young people, children at times, that really shake up society, that really take charge of their own future, this is only a diagnostics matter,” he said.

“If you only have diagnostics, you are not going to get healthy, we need to have the cure. You need to have somebody who takes actions to bring down emissions and that is exactly what we do.”

Kaeser added that the company is expecting in the next fiscal year to declare success on its target set four years ago for a 50% reduction in emissions by 2020, and suggested Siemens may bring forward its target of reaching CO2 neutrality by 2030.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: elliot smith
Keywords: news, cnbc, companies, really, tone, profit, weakening, kaeser, strikes, 2020, gloomy, siemens, billion, target, suggested, beat, fourth, posts, quarter


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Hasbro has ‘come out of the gates into the fourth quarter strongly,’ CEO Brian Goldner tells Jim Cramer

Hasbro CEO Brian Goldner on Tuesday told CNBC that sales are off to a strong start in the fourth quarter. “We have a number of new products coming into the holidays,” he said in a “Mad Money” interview with Jim Cramer. “We said we believe we can grow in the fourth quarter and, as we go forward, we will get through this issue related to the tariffs.” “Going forward after fourth quarter 2019 our teams, like we always do, address these issues in real time,” Goldner said. “We’ve come out of the gate


Hasbro CEO Brian Goldner on Tuesday told CNBC that sales are off to a strong start in the fourth quarter.
“We have a number of new products coming into the holidays,” he said in a “Mad Money” interview with Jim Cramer.
“We said we believe we can grow in the fourth quarter and, as we go forward, we will get through this issue related to the tariffs.”
“Going forward after fourth quarter 2019 our teams, like we always do, address these issues in real time,” Goldner said.
“We’ve come out of the gate
Hasbro has ‘come out of the gates into the fourth quarter strongly,’ CEO Brian Goldner tells Jim Cramer Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: tyler clifford
Keywords: news, cnbc, companies, tells, quarter, tariffs, goldner, hasbro, cramer, come, strong, forward, transformers, toys, strongly, jim, start, gates, products, fourth


Hasbro has 'come out of the gates into the fourth quarter strongly,' CEO Brian Goldner tells Jim Cramer

Hasbro CEO Brian Goldner on Tuesday told CNBC that sales are off to a strong start in the fourth quarter.

The toymaker’s third quarter proved to be tough, missing top- and bottom-line estimates in its quarterly report that sent shares down nearly 17% on the session. The chief expressed optimism in that shipments picked up “appreciably” in September following two straight months of decline.

“We have a number of new products coming into the holidays,” he said in a “Mad Money” interview with Jim Cramer. “We said we believe we can grow in the fourth quarter and, as we go forward, we will get through this issue related to the tariffs.”

The U.S.-China trade war has weighed heavily on Hasbro’s shipping and warehousing costs, Goldner said. Tariffs and the threat of more tariffs on toys imported from China is a headwind that the company has tried to dodge throughout the year. Hasbro is the parent of household toy brands Transformers, G.I. Joe and Power Rangers, among others.

Hasbro faces another 10% tariff hike that President Donald Trump plans to impose on toys and a list of other products shipped from China. The new round of tariffs was initially scheduled for Sept. 1, but it was delayed with the holiday shopping season in mind.

“Going forward after fourth quarter 2019 our teams, like we always do, address these issues in real time,” Goldner said. “We have a way to go forward with our retailers where tariffs, whether they’re enacted or not, will not have an impact on our business, but in the short term it did have an impact.”

Hasbro is relying on a range of new and soon-to-be released products to carry sales in the Christmas quarter. Goldner counted the debut of Disney’s “Frozen 2” among them. He said “we’re seeing very strong growth” from the latest “Star Wars” movie and that the Nerf Ultra launch is “off to a very good start.” The Play Doh, Transformers, Monopoly and Magic: The Gathering businesses are up year to date, he added.

“We’ve come out of the gates into the fourth quarter strongly,” Goldner said.

Hasbro is expected to record more than $1.5 billion in total revenue and $1.51 of profit per share in the December quarter, based on analyst consensus. Wall Street expects $4.68 earnings per share on nearly $5 billion totals for full-year 2019, according to FactSet.


Company: cnbc, Activity: cnbc, Date: 2019-10-22  Authors: tyler clifford
Keywords: news, cnbc, companies, tells, quarter, tariffs, goldner, hasbro, cramer, come, strong, forward, transformers, toys, strongly, jim, start, gates, products, fourth


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Watch five key moments from the fourth Democratic debate

Watch five key moments from the fourth Democratic debate19 Hours AgoDemocratic candidates took the stage to debate issues ranging from health care, wealth inequality, and the US economy.


Watch five key moments from the fourth Democratic debate19 Hours AgoDemocratic candidates took the stage to debate issues ranging from health care, wealth inequality, and the US economy.
Watch five key moments from the fourth Democratic debate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16
Keywords: news, cnbc, companies, took, fourth, moments, hours, ranging, key, watch, stage, inequality, democratic, issues, debate, wealth


Watch five key moments from the fourth Democratic debate

Watch five key moments from the fourth Democratic debate

19 Hours Ago

Democratic candidates took the stage to debate issues ranging from health care, wealth inequality, and the US economy.


Company: cnbc, Activity: cnbc, Date: 2019-10-16
Keywords: news, cnbc, companies, took, fourth, moments, hours, ranging, key, watch, stage, inequality, democratic, issues, debate, wealth


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Joe Biden’s cash problems squeeze donors and fundraisers with early primaries on the horizon

Another fundraiser explained that Biden’s lack of cash going into the fourth quarter could put him at a “handicap” for the primary states. “We got started later than anybody at all in this campaign,” Biden told reporters while in Columbus, Ohio. Since he entered the race in April, Biden’s campaign has seen an influx of large individual contributions. The primary debate on Tuesday could prove to be a key moment for Biden’s start to the fourth quarter. Biden’s campaign has yet to say how much it h


Another fundraiser explained that Biden’s lack of cash going into the fourth quarter could put him at a “handicap” for the primary states.
“We got started later than anybody at all in this campaign,” Biden told reporters while in Columbus, Ohio.
Since he entered the race in April, Biden’s campaign has seen an influx of large individual contributions.
The primary debate on Tuesday could prove to be a key moment for Biden’s start to the fourth quarter.
Biden’s campaign has yet to say how much it h
Joe Biden’s cash problems squeeze donors and fundraisers with early primaries on the horizon Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: brian schwartz
Keywords: news, cnbc, companies, problems, joe, early, quarter, donors, bidens, fundraising, million, fourth, biden, primary, fundraisers, squeeze, campaign, super, primaries, horizon, going, cash


Joe Biden's cash problems squeeze donors and fundraisers with early primaries on the horizon

Sen. Bernie Sanders (I-VT), former Vice President Joe Biden, and Sen. Elizabeth Warren (D-MA) enter the stage before the Democratic Presidential Debate at Otterbein University on October 15, 2019 in Westerville, Ohio.

Former Vice President Joe Biden’s top donors have mixed feelings about the campaign’s path forward now that it has only $8.9 million on hand going into a pivotal fourth quarter.

Some, like former Pennsylvania Gov. Ed Rendell, believe that Biden is going to have to work harder on the campaign trail with that amount of cash. But, in the end, he argues there will be enough financial resources to compete in the early caucus and primary states of Iowa, New Hampshire, Nevada and South Carolina, and then later Super Tuesday. That crucial primary day includes states that account for 40% of the total delegate allocation such as California, North Carolina and Texas.

Biden’s campaign privately stressed to members of its finance committee during a conference call on Wednesday that the fourth quarter is the most important one yet as it pertains to fundraising, according to those familiar with the discussions. They also discussed ways to improve their appeal to grassroots donors, these people added.

Yet, there are other Biden financiers, who spoke on condition of anonymity, that now fear possible hurdles for the former vice president in those states and beyond if he can’t turn his fundraising game around by the end of December. The total cash on hand was disclosed late Tuesday in the campaign’s Federal Election Commission filing. It also showed the campaign raised just more $15 million and spent $17.6 million in the third quarter. More than $900,000 was spent on private jet travel, and millions were spent on payroll, along with other expenses.

Biden’s totals lag behind Sens. Bernie Sanders and Elizabeth Warren and South Bend, Indiana, Mayor Pete Buttigieg. Their strong cash arsenals range from $33.7 million for Sanders to Buttigieg with $23 million. President Donald Trump and the Republican National Committee combined to have $156 million on hand after the third quarter.

The first four contests of the Democratic primary season are scheduled for February. Super Tuesday is set for March 3. Biden’s campaign has previously signaled to its fundraisers that they need to start ramping up their efforts if they want to have the best chance at making inroads on Super Tuesday.

“Look, he’s going to have to work a little harder, but I don’t have a doubt he will do well on Super Tuesday,” Rendell said in an interview Wednesday, while noting the Biden organization will have plenty of cash to make a breakthrough in February and March.

“I think he has to do better by the way he campaigns,” Rendell said, adding that he thought Tuesday’s debate was one of Biden’s best performances.

Bernard Schwartz, CEO of investment firm BLS Investments who has contributed the max amount to Biden, said an $8.9 million reserve going into Super Tuesday won’t be enough, yet argues big money fundraising events, along with his name recognition will get him over the finish line.

“Oh no, I don’t think it’s enough at all,” Schwartz said. “He has some big money tickets coming in and I have every confidence we are going to make it,” he added.

Schwartz said he has offered to host fundraisers in Southampton, New York, and in New York City, but the campaign has yet to agree on a date.

Other donors though are not as optimistic. They stress that the current cash-on-hand situation puts pressure on them, along with the campaign, to have a successful fourth quarter.

“He needs a big fourth quarter to be properly positioned going into the actual caucuses and primaries,” a leading Biden financier explained. “Only thing our donor base can do is drive in more dollars. At this point the low hanging fruit has been harvested and we have to dig deeper,” this person added.

“It’s all going to count in the fourth quarter. If he doesn’t have strong numbers, he’s f—ing done,” said another fundraiser helping Biden behind the scenes.

Another fundraiser explained that Biden’s lack of cash going into the fourth quarter could put him at a “handicap” for the primary states. “We all thought he would be better than this,” this max contributor said.

Biden himself brushed off any questions about the $8.9 million not being enough to maintain and pick up the extra assets he needs in order to stay alive in the race for his party’s nomination.

“We got started later than anybody at all in this campaign,” Biden told reporters while in Columbus, Ohio. “We did not start off by dropping $10 million from a Senate campaign, wherever that money came from,” he added as a reference to Warren’s large transfer from her Senate coffers to her presidential organization.

A spokesperson for the Biden campaign did not return a request for comment.

Still, skeptical bundlers of Biden’s are pointing to data they say is a question mark: where are they going to acquire the big checks of $2,800 now that many in their networks have maxed out? The $2,800 sum is the most an individual can give directly to a campaign in each election cycle.

Since he entered the race in April, Biden’s campaign has seen an influx of large individual contributions. Out of the $36 million it has raised, 64% was from large donations, according to the nonpartisan Center for Responsive Politics. Meanwhile, 35% of donors have given $200 or less. Compare that with Warren, who has caught up to Biden in the polls but also has at least 53% of her donors giving her less than $200. She finished the third quarter raising just more than $24 million and has $25.7 million on hand.

The primary debate on Tuesday could prove to be a key moment for Biden’s start to the fourth quarter. A few of his opponents have already announced their fundraising success since the contest in Ohio.

Buttigieg spokeswoman Lis Smith tweeted that her candidate raised over $1 million in the past 24 hours from contributors in all 50 state.

Sanders campaign announced early Wednesday that it brought in more than $620,000 from more than 40,000 contributions. Sen. Amy Klobuchar’s campaign said it had its best hour of fundraising following the debate.

Biden’s campaign has yet to say how much it has raised since the debate.


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: brian schwartz
Keywords: news, cnbc, companies, problems, joe, early, quarter, donors, bidens, fundraising, million, fourth, biden, primary, fundraisers, squeeze, campaign, super, primaries, horizon, going, cash


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Trade, capitalism, money in politics: These are the business issues to watch in the fourth Democratic debate

Former Vice President Joe Biden speaks with Senator Elizabeth Warren during the 2020 Democratic U.S. presidential debate in Houston, Texas, September 12, 2019. Mike Blake | ReutersThe impeachment inquiry into President Donald Trump is heating up Capitol Hill, but disagreements over fiscal issues could create just as much friction at the Democratic primary debate Tuesday night. Billionaire Tom Steyer, a late entry in the crowded primary field, will be making his debut debate appearance. Here are


Former Vice President Joe Biden speaks with Senator Elizabeth Warren during the 2020 Democratic U.S. presidential debate in Houston, Texas, September 12, 2019. Mike Blake | ReutersThe impeachment inquiry into President Donald Trump is heating up Capitol Hill, but disagreements over fiscal issues could create just as much friction at the Democratic primary debate Tuesday night. Billionaire Tom Steyer, a late entry in the crowded primary field, will be making his debut debate appearance. Here are
Trade, capitalism, money in politics: These are the business issues to watch in the fourth Democratic debate Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, primary, issues, president, trade, money, business, candidates, capitalism, trump, watch, democratic, state, sanders, sen, fourth, politics, debate


Trade, capitalism, money in politics: These are the business issues to watch in the fourth Democratic debate

Former Vice President Joe Biden speaks with Senator Elizabeth Warren during the 2020 Democratic U.S. presidential debate in Houston, Texas, September 12, 2019. Mike Blake | Reuters

The impeachment inquiry into President Donald Trump is heating up Capitol Hill, but disagreements over fiscal issues could create just as much friction at the Democratic primary debate Tuesday night. The fourth debate of the primary season is guaranteed to be the biggest yet, with 12 candidates set to appear at Otterbein University in Westerville, Ohio — including Sen. Bernie Sanders, who recently suffered a heart attack. Former Vice President Joe Biden and Sen. Elizabeth Warren will hold court in the center of the stage, flanked by Sanders and South Bend, Ind., Mayor Pete Buttigieg. Billionaire Tom Steyer, a late entry in the crowded primary field, will be making his debut debate appearance. They’ll have plenty to talk about in the debate, which is being hosted by CNN and The New York Times from 8 p.m. to 11 p.m. ET. Some of the widest divisions among the Democrats relate to trade, where some candidates see tariffs — a tool condemned by free-marketeers but championed by Trump — as a viable option. Expect to see Democrats respond with skepticism to Trump’s recent announcement that he’s reached a “phase one deal” with China.

On the domestic front, many of the candidates recently released their third-quarter fundraising totals — all of which fell far short of Trump’s massive war chest. The numbers coming in have stoked tensions within the party about the role of money in politics, which could be further hashed out at the debate. Biden — who remains the front-runner in the race, according to the RealClearPolitics polling average — has the most to lose at the debate. And he’s likely to be hit with some tough and unflattering questions about his son Hunter’s business dealings, which Trump has latched onto amid the increasingly popular impeachment inquiry. Sen. Kamala Harris, entrepreneur Andrew Yang, Sen. Cory Booker, former Housing and Urban Development Secretary Julian Castro, former Rep. Beto O’Rourke, Sen. Amy Klobuchar and Rep. Tulsi Gabbard will also share the stage. Here are the business issues to watch going into the fourth debate:

Trade

The fourth debate is taking place in Ohio, widely viewed as a swing state and a bellwether for the national presidential election. Trump won the state in 2016 with about 51% of the vote. It’s also a Midwest industrial state that has struggled with the loss of manufacturing jobs and agricultural uncertainty, said Melissa Miller, an associate professor of American politics at Ohio’s Bowling Green State University. That puts the long-running U.S.-China trade negotiations into sharp focus for the debate. Democrats have previously gone after Trump over trade, but the White House’s apparent recent progress in the trade talks could complicate their criticisms. Still, the first “phase” of the deal has yet to be put on paper, and new worries about the negotiations started to emerge Monday. “The president does have a way of undermining little steps forward with big steps backward on Twitter and the like,” Miller said. “The Democrat who can really simplify and make clear to voters what’s at stake and the extent to which actual households will feel the impacts, that’s the candidate who can break through,” she added.

Fundraising

Health care

As in the previous debates, health care is set to be a major sticking point. Most politicians support finding ways to expand health coverage while avoiding spiraling costs. But there are chasms of differences among the candidates about how to achieve that goal. Sanders has long advocated a government-run program — “Medicare for All” — that applies to everyone. His proposal, currently a bill that has no chance of passing the Republican-controlled Senate, would widen the types of coverage available, as well as push private insurers out of the Medicare mix in favor of a single-payer model.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: kevin breuninger
Keywords: news, cnbc, companies, primary, issues, president, trade, money, business, candidates, capitalism, trump, watch, democratic, state, sanders, sen, fourth, politics, debate


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If you invested $1,000 in Delta 10 years ago, here’s how much money you’d have now

Since returning to the public market in 2007, Delta’s stock has been a consistent performer, making it a win for those who invested 10 years ago. While Delta’s stock has done well over the years, any individual stock can over- or underperform and past returns do not predict future results. CNBC: Delta stock as of October 10, 2019. As J.P. Morgan analysts put it, Delta’s prospects for the fourth quarter could be compared with “limping across the finish line.” But going into the fourth quarter, ma


Since returning to the public market in 2007, Delta’s stock has been a consistent performer, making it a win for those who invested 10 years ago. While Delta’s stock has done well over the years, any individual stock can over- or underperform and past returns do not predict future results. CNBC: Delta stock as of October 10, 2019. As J.P. Morgan analysts put it, Delta’s prospects for the fourth quarter could be compared with “limping across the finish line.” But going into the fourth quarter, ma
If you invested $1,000 in Delta 10 years ago, here’s how much money you’d have now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: anna hecht
Keywords: news, cnbc, companies, tepper, invested, ago, 1000, fourth, deltas, heres, money, share, stock, airlines, total, quarter, thirdquarter, delta, youd


If you invested $1,000 in Delta 10 years ago, here's how much money you'd have now

Delta Air Lines was the first U.S. carrier to report third-quarter earnings this year, and despite rising costs putting pressure on the airline, strong travel demand helped its revenue and profit grow.

Since returning to the public market in 2007, Delta’s stock has been a consistent performer, making it a win for those who invested 10 years ago. A $1,000 investment in 2009 would be worth more than $6,600, as of Oct. 10, 2019, for a total return of nearly 570%, according to CNBC calculations. In the same time frame, by comparison, the S&P 500 earned a total return of nearly 240%. The Atlanta-based airline’s current share price is hovering around $54.

While Delta’s stock has done well over the years, any individual stock can over- or underperform and past returns do not predict future results.

CNBC: Delta stock as of October 10, 2019.

Despite performing well in its third quarter, Delta’s fourth quarter could be tough due to the airline’s expectation that costs, excluding fuel, could rise as much as 5% year over year, CNBC reports. As J.P. Morgan analysts put it, Delta’s prospects for the fourth quarter could be compared with “limping across the finish line.”

Delta’s stock has faced both ups and downs this year. In January, the shares tumbled almost 9% in one day after it predicted lower revenue growth. However, the stock is up almost 8% this year.

But going into the fourth quarter, many experts stand behind Delta, despite a lackluster forecast. Mark Tepper, CEO of Strategic Wealth Partners, said he’s a fan of Delta’s stock — as opposed to other popular U.S. airlines — for three main reasons.

For one, Delta doesn’t fly the Boeing 737 Max, a type of airplane which has been grounded since March after two fatal crashes, Tepper said during a recent segment of CNBC’s “Trading Nation.” Two, it has “the best maintenance team in the industry,” which helps extend the life of its aircraft, making it a good move financially. And three, Tepper supports Delta’s partnership with American Express, which he calls “the gold standard,” because it helps the company’s bottom line.

Delta gained extra business while its competitors such as Southwest and American Airlines were forced to stop operating the Max and cancel thousands of flights. While Delta CEO Ed Bastian agrees the extra market share helped the airline’s third-quarter performance, he doesn’t believe “it was the main driver,” Bastian said during a recent appearance on CNBC’s “Squawk Box.”


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: anna hecht
Keywords: news, cnbc, companies, tepper, invested, ago, 1000, fourth, deltas, heres, money, share, stock, airlines, total, quarter, thirdquarter, delta, youd


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Citi: Risk sentiment should turn in the fourth quarter

Citi: Risk sentiment should turn in the fourth quarter2 Hours AgoKen Peng of Citi Private Bank says investors should be adding to U.K. stocks because the odds are to the upside. He also discusses the U.S.-China trade war.


Citi: Risk sentiment should turn in the fourth quarter2 Hours AgoKen Peng of Citi Private Bank says investors should be adding to U.K. stocks because the odds are to the upside. He also discusses the U.S.-China trade war.
Citi: Risk sentiment should turn in the fourth quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-14
Keywords: news, cnbc, companies, fourth, citi, upside, stocks, sentiment, war, trade, uschina, quarter, turn, risk


Citi: Risk sentiment should turn in the fourth quarter

Citi: Risk sentiment should turn in the fourth quarter

2 Hours Ago

Ken Peng of Citi Private Bank says investors should be adding to U.K. stocks because the odds are to the upside. He also discusses the U.S.-China trade war.


Company: cnbc, Activity: cnbc, Date: 2019-10-14
Keywords: news, cnbc, companies, fourth, citi, upside, stocks, sentiment, war, trade, uschina, quarter, turn, risk


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GM furloughs more workers as union strike enters fourth week

United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit. DETROIT – The United Auto Workers’ strike against General Motors, now in its fourth week, is continuing to hit the automaker’s operations outside of the U.S. The temporary layoffs add to roughly 10,000 non-UAW workers in North America that have been furloughed because of the strike. GM last week idled a plant in Mexico tha


United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit. DETROIT – The United Auto Workers’ strike against General Motors, now in its fourth week, is continuing to hit the automaker’s operations outside of the U.S. The temporary layoffs add to roughly 10,000 non-UAW workers in North America that have been furloughed because of the strike. GM last week idled a plant in Mexico tha
GM furloughs more workers as union strike enters fourth week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: michael wayland
Keywords: news, cnbc, companies, workers, fourth, united, furloughs, enters, told, production, strike, union, week, engine, outside, company, plant


GM furloughs more workers as union strike enters fourth week

United Auto Workers members on strike picket outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 with Vermont Sen. Bernie Sanders (far left) in Detroit.

DETROIT – The United Auto Workers’ strike against General Motors, now in its fourth week, is continuing to hit the automaker’s operations outside of the U.S.

The company halted production of a V-8 engine and transmission at its engine plant in Ramos Arizpe, Coahuila, Mexico, and told about 415 of the factory’s 2,100 employees not to come to work on Monday, a company spokesman told CNBC on Monday. The temporary layoffs add to roughly 10,000 non-UAW workers in North America that have been furloughed because of the strike.

GM last week idled a plant in Mexico that produces its highly-profitable Chevrolet Silverado and GMC Sierra 1500 pickups, temporarily laying off 6,000 workers. Prior to that, the company cut several operations in Canada and its jointly operated DMax engine facility in Ohio.

The Buckingham Research Group on Monday estimated GM has lost about 153,000 units of production after three weeks, much of which it won’t be able to make up in the fourth quarter.

GM’s stock opened Monday at $34.60, down 10% since the Friday before the strike began. Shares of the Detroit automaker are still up 4.4% for the year.


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: michael wayland
Keywords: news, cnbc, companies, workers, fourth, united, furloughs, enters, told, production, strike, union, week, engine, outside, company, plant


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DNC turns to 2020 candidates for fundraising help in fourth quarter as committee struggles to raise cash

The Democratic National Committee, which is struggling to keep up with its Republican counterpart’s fundraising pace, is turning to 2020 presidential candidates for help raising cash in the pivotal fourth quarter. The DNC aide explained that for the donor events, tickets range from $100 to $50,000. After publication, this same aide said that they sold tickets to the Warren DNC fundraiser for $100. Representatives for all the other candidates that are being featured in fundraising events this mon


The Democratic National Committee, which is struggling to keep up with its Republican counterpart’s fundraising pace, is turning to 2020 presidential candidates for help raising cash in the pivotal fourth quarter. The DNC aide explained that for the donor events, tickets range from $100 to $50,000. After publication, this same aide said that they sold tickets to the Warren DNC fundraiser for $100. Representatives for all the other candidates that are being featured in fundraising events this mon
DNC turns to 2020 candidates for fundraising help in fourth quarter as committee struggles to raise cash Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: brian schwartz
Keywords: news, cnbc, companies, fourth, events, fundraising, help, turns, struggles, million, tickets, dnc, steyer, candidates, committee, cash, quarter, harris, raise, national, warren


DNC turns to 2020 candidates for fundraising help in fourth quarter as committee struggles to raise cash

2020 Democratic presidential candidates, Pete Buttigieg, mayor of South Bend, Senator Bernie Sanders, Former U.S. Vice President Joe Biden, Senator Elizabeth Warren, Senator Kamala Harris, Andrew Yang, founder of Venture for America, Beto O’Rourke, and Julian Castro, Development (HUD), debate in Houston, Texas, U.S., on Thursday, Sept. 12, 2019.

The Democratic National Committee, which is struggling to keep up with its Republican counterpart’s fundraising pace, is turning to 2020 presidential candidates for help raising cash in the pivotal fourth quarter.

In an email to donors and forwarded to CNBC, Chris Lowe, the committee’s deputy national finance chair, listed two events in New York in October that will feature Sen. Kamala Harris and former Secretary of Housing, Julian Castro. Harris’ fundraiser is dubbed the “DNC Chairman’s Dinner.”

Separately, a DNC aide sent CNBC a list of other events this month, which will include a “chairman’s dinner” in San Francisco with billionaire candidate Tom Steyer and Sen. Elizabeth Warren headlining the “Women Will Vote Gala.” Warren’s event will coincide with the Women’s Leadership Forum Conference in Washington. All proceeds for these fundraisers go to the DNC and the party’s infrastructure, the aide added.

Warren has sworn off having her campaign take part in big money fundraisers. Tickets for Warren’s gala go up to $5,000 and others can gain access by raising up to $50,000 for the party, according to an online portal that allows attendees to buy tickets. Those who raise the five figure sum will receive 10 VIP tickets to the fundraiser.

The DNC aide explained that for the donor events, tickets range from $100 to $50,000. After publication, this same aide said that they sold tickets to the Warren DNC fundraiser for $100. DNC Chairman Tom Perez will be in attendance for Harris and Steyer’s dinners, this person added.

The latest Federal Election Commission filings show that in August, the Republican National Committee raised just over $23 million and have $53 million on hand, while the DNC brought in $7.9 million and had $7.2 million in debt. Meanwhile, Trump and the RNC combined in the third quarter to raise over $125 million.

While this would not mark the first time the DNC has hosted candidates for fundraisers this cycle, the October donor meetings coincide with a moment when the Republican National Committee are seeing a boom in fundraising while the DNC has seen a dip as their candidates battle it out in a primary.

Harris, Castro and Steyer are much lower in the polls than Warren, former Vice President Joe Biden and Sen. Bernie Sanders. For all the contenders, these occasions give candidates a chance to connect with donors who have yet to give to their campaigns. Sanders had the biggest third quarter haul with $25 million. Warren announced her $24.6 million take on Friday. Mayor Pete Buttigieg pulled in $19 million, while Biden raised $15 million.

Ian Sams, a spokesman for Harris, insisted the proceeds from her dinner will only go to the DNC and noted that she had a committee based event earlier this summer in her home state of California. Alberto Lammers, a spokesman for Steyer, said they plan to review the guest list before their event to make sure no fossil fuel executives attend. Steyer was one of many candidates who signed the no fossil fuel money pledge.

“It’s a small event focused on climate and the campaign will review the list to make sure fossil fuel executives are not included,” Lammers said.

Representatives for all the other candidates that are being featured in fundraising events this month did not return requests for comment.

Veteran Democratic donors have taken notice of the party’s struggle to raise cash and argue that it’s due to a lack of cohesion around a single candidate. There are close to 20 participants in the primary.

“It’s a standard off year fundraising challenge. No candidate, hard to get good surrogates for fundraising,” Rufus Gifford, President Barack Obama’s 2012 fundraising chief, told CNBC. “This will change when we have a candidate, but when will that be? Will it be too late?”


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: brian schwartz
Keywords: news, cnbc, companies, fourth, events, fundraising, help, turns, struggles, million, tickets, dnc, steyer, candidates, committee, cash, quarter, harris, raise, national, warren


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Dow set to drop 150 points, continuing its rough start to the fourth quarter amid recession fears

U.S. stock index futures fell sharply on Wednesday as investors worried over the possibility of an economic recession. ET, Dow Jones Industrial Average futures pointed to a drop of 157 points at the open. Tech shares fell in the premarket. The Dow dropped more than 300 points while the S&P 500 slid 1.2%, their biggest one-day drops since Aug. 23. Wall Street’s focus will remain on the economic data on Wednesday as ADP and Moody’s Analytics release their monthly private payrolls report.


U.S. stock index futures fell sharply on Wednesday as investors worried over the possibility of an economic recession. ET, Dow Jones Industrial Average futures pointed to a drop of 157 points at the open. Tech shares fell in the premarket. The Dow dropped more than 300 points while the S&P 500 slid 1.2%, their biggest one-day drops since Aug. 23. Wall Street’s focus will remain on the economic data on Wednesday as ADP and Moody’s Analytics release their monthly private payrolls report.
Dow set to drop 150 points, continuing its rough start to the fourth quarter amid recession fears Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: fred imbert silvia amaro, fred imbert, silvia amaro
Keywords: news, cnbc, companies, trade, shares, rough, quarter, recession, fourth, data, sides, slid, fears, start, points, dow, futures, set, fell, drop, economic


Dow set to drop 150 points, continuing its rough start to the fourth quarter amid recession fears

U.S. stock index futures fell sharply on Wednesday as investors worried over the possibility of an economic recession.

Around 7:35 a.m. ET, Dow Jones Industrial Average futures pointed to a drop of 157 points at the open. S&P 500 and Nasdaq 100 futures also indicated steep decline.

Tech shares fell in the premarket. Facebook and Amazon dropped 1% and 0.8%, respectively. Netflix lost 0.6% while Alphabet slid 0.7%. Industrial shares such as Caterpillar and Union Pacific pulled back more than 1% each.

Concern around the economy was sparked on Tuesday after the Institute for Supply Management said U.S. manufacturing activity fell last month to its lowest level in more than 10 years.

The weak data sent the major indexes tumbling on Tuesday, the first day of the fourth quarter. The Dow dropped more than 300 points while the S&P 500 slid 1.2%, their biggest one-day drops since Aug. 23. Those losses were enough to wipe out the Dow and S&P 500’s gains for the entire third quarter.

Nicholas Colas, co-founder of DataTrek Research, said the market will “want to see real progress” from the upcoming U.S.-China trade talks after the disappointing data. “Markets will be looking for positive commentary from both sides going into this meeting and tangible steps to an agreement immediately after,” he said in a note.

Chinese and U.S. officials are scheduled to meet in Washington next week. Both sides have been in a trade war since last year that has rattled investor sentiment and economic growth expectations.

Wall Street’s focus will remain on the economic data on Wednesday as ADP and Moody’s Analytics release their monthly private payrolls report. The data is seen by investors as a preview to the government’s monthly jobs report, which will be released Friday at 8:30 a.m. ET.

There are a number of Federal Reserve speeches, including from New York’s Fed President John Williams at 10:50 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2019-10-02  Authors: fred imbert silvia amaro, fred imbert, silvia amaro
Keywords: news, cnbc, companies, trade, shares, rough, quarter, recession, fourth, data, sides, slid, fears, start, points, dow, futures, set, fell, drop, economic


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