Cramer’s lightning round: Business at these two oil plays will improve in 2019

I think BP and Schlumberger are going to have better 2019s than 2018s, particularly Schlumberger, but, boy, I seem to be the only person who feels that way right now.” Sell, sell, sell. Because I think they’re doing well, but I’ve got to tell you, high-multiple anything – including apparel – is being sold. I mean, they’re all getting crushed. Intuitive Surgical Inc.: “I’m with Intuitive Surgical and I say buy, buy, buy!


I think BP and Schlumberger are going to have better 2019s than 2018s, particularly Schlumberger, but, boy, I seem to be the only person who feels that way right now.” Sell, sell, sell. Because I think they’re doing well, but I’ve got to tell you, high-multiple anything – including apparel – is being sold. I mean, they’re all getting crushed. Intuitive Surgical Inc.: “I’m with Intuitive Surgical and I say buy, buy, buy!
Cramer’s lightning round: Business at these two oil plays will improve in 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, improve, business, lightning, im, bp, 2019, buy, mean, cramers, sell, think, dont, yields, oil, theyre, schlumberger, round, plays


Cramer's lightning round: Business at these two oil plays will improve in 2019

Schlumberger Ltd.: “My charitable trust owns SLB and it owns BP because these have good yields and good balance sheets and I think that oil is not done. I was going back and forth with my colleague today and he said, ‘Listen, you’ve got to be really careful. This is the twilight of fossil.’ And that’s what you’re really seeing. I think BP and Schlumberger are going to have better 2019s than 2018s, particularly Schlumberger, but, boy, I seem to be the only person who feels that way right now.”

Tyson Foods Inc.: “No, no. Tyson had a bad quarter. I’m sorry. Sell, sell, sell. They’ve got to get it together because millennials love protein.”

Antero Resources Corp.: “We’re recommending very, very few oil companies. One of the only ones I like is BP. Why? Because it yields about 6 percent and it just raised the dividend, so I’m not worried about whether it can pay it.”

Lululemon Athletica Inc.: “Oh, boy, is this a controversial one. Because I think they’re doing well, but I’ve got to tell you, high-multiple anything – including apparel – is being sold. I don’t want to sell it. I don’t want to sell it, but I’m trying to give you both sides of the story.”

Talend SA: “Oh my god, there’s a million other Talends out there. That’s software. I mean, they’re all getting crushed. I so want to just go buy the tape. I mean, Atlassian, symbol TEAM, … had a fantastic quarter. The stock’s down 10 percent. I mean, what kind of market is this? It’s awful.”

Intuitive Surgical Inc.: “I’m with Intuitive Surgical and I say buy, buy, buy! We don’t have to give up on everything in this market.”


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, improve, business, lightning, im, bp, 2019, buy, mean, cramers, sell, think, dont, yields, oil, theyre, schlumberger, round, plays


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‘Data is the new oil’: UAE says energy executives should embrace A.I. to improve profits

Big Oil should do all it can to embrace fast-improving Artificial Intelligence (AI) in the energy industry, according to the United Arab Emirates’ (UAE) first minister dedicated to fostering the technology. Speaking at the ADIPEC oil summit in Abu Dhabi on Tuesday, Omar bin Sultan Al Olama, the UAE’s minister of state for AI technology said: “Data is the new oil.” “Any company, any government that merges data and oil is going to get yields that we have never seen before. The oil and gas market r


Big Oil should do all it can to embrace fast-improving Artificial Intelligence (AI) in the energy industry, according to the United Arab Emirates’ (UAE) first minister dedicated to fostering the technology. Speaking at the ADIPEC oil summit in Abu Dhabi on Tuesday, Omar bin Sultan Al Olama, the UAE’s minister of state for AI technology said: “Data is the new oil.” “Any company, any government that merges data and oil is going to get yields that we have never seen before. The oil and gas market r
‘Data is the new oil’: UAE says energy executives should embrace A.I. to improve profits Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: sam meredith, ken cedeno, corbis news, getty images
Keywords: news, cnbc, companies, executives, data, yields, industry, al, energy, profits, going, improve, oil, olama, ai, embrace, minister, uae


'Data is the new oil': UAE says energy executives should embrace A.I. to improve profits

Big Oil should do all it can to embrace fast-improving Artificial Intelligence (AI) in the energy industry, according to the United Arab Emirates’ (UAE) first minister dedicated to fostering the technology.

Speaking at the ADIPEC oil summit in Abu Dhabi on Tuesday, Omar bin Sultan Al Olama, the UAE’s minister of state for AI technology said: “Data is the new oil.”

“Any company, any government that merges data and oil is going to get yields that we have never seen before. We are going to see lower costs, with profits that cannot be found elsewhere.”

The oil and gas market represents around 50 percent of the world’s energy demand at present, Al Olama said, before adding data, blockchain, AI, the internet of things and other emerging technologies would radically change the industry over the coming years.

He argued technological developments would soon make the energy sector more sustainable, as well as making it easier for executives to make better decisions on nearly every domain.

“The opportunities are endless — some estimates say AI can have a $2.85 billion contribution in the energy industry by 2022. That’s a start, but the impact is going to be much bigger than that.”


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: sam meredith, ken cedeno, corbis news, getty images
Keywords: news, cnbc, companies, executives, data, yields, industry, al, energy, profits, going, improve, oil, olama, ai, embrace, minister, uae


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Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet


The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets. The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency. Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions. The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The Australian dollar, often considered a baromet
Dollar gains after US shares rise, yen slips as risk appetites improve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


Dollar gains after US shares rise, yen slips as risk appetites improve

The dollar strengthened against most major peers on Wednesday, while the yen weakened as upbeat Wall Street earnings reduced global appetites for safe haven assets.

The three main Wall Street indexes each rose by more than 2 percent as blue-chips delivered strong earnings indicating that the U.S. economic recovery is on track despite rising interest rates and global trade war tensions.

Data on Tuesday showed that U.S. industrial production increased for a fourth straight month in September, boosted by gains in manufacturing and mining output, but momentum slowed sharply in the third quarter

The dollar index, a gauge of its value against six major peers, rose 0.14 percent to quote at 95.18 on Wednesday.

The greenback was trading at 112.34 yen, a gain of 0.07 percent against the Japanese currency.

Through Monday, when it hit a one-month high of 111.61, the yen had strengthened seven out of eight sessions.

“The rebound in global sentiment has taken the appreciation pressure off the yen,” said Stuart Ritson, portfolio manager, emerging markets debt at Aviva Investors.

Market participants will be looking for clues on the dollar’s direction and the path ahead on U.S. interest-rate hikes from minutes of the Federal Reserve’s September meeting, due for release later on Wednesday.

Interest rate futures are pricing in a 77 percent likelihood that the Fed will again raise rates in December, according to the CME Group’s FedWatch Tool.

“The Fed is close to neutrality and the FOMC will pause when the Fed funds rate gets to 2.75 percent,” Brian Martin, ANZ head of global economics, said in a note.

“While there are upside risks to our forecasts, we think the Fed will struggle to raise the Fed funds target much beyond 3.0 percent,” he added.

The British pound was at $1.3175, down 0.1 percent, after tacking a gain of 0.25 percent on Tuesday.

While sterling was supported by Tuesday’s stronger than expected British employment data, investors are still doubtful that the European Union Summit on Wednesday will yield much progress on the Northern Island border issue blocking a Brexit agreement.

On Wednesday, the euro traded lower at $1.1560, down 0.1 percent. On Tuesday, the single currency reached $1.1622 – its highest since Oct. 1 – before giving up its gains.

The New Zealand dollar traded flat versus the greenback, at 0.6589 on Wednesday. The kiwi clocked a gain of 0.5 percent on Tuesday as domestic inflation picked up stronger than expected.

The Australian dollar, often considered a barometer of global risk appetite, lost 0.07 percent to US$0.7135. The Aussie has gained marginally against the greenback over the past two trading sessions. It hit a more than two-year low of US$0.7039 on Oct. 8.

Gold lost 0.16 percent to trade at $1,223 per ounce on Wednesday. The yellow metal hit its highest level since July 27 on Monday, hitting an intra-day high of $1,233 per ounce.


Company: cnbc, Activity: cnbc, Date: 2018-10-17
Keywords: news, cnbc, companies, wall, dollar, appetites, risk, traded, yen, slips, global, fed, gain, shares, gains, rise, improve, trading, hit, greenback


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Apple buys music analytics company Asaii to improve music playlists

Apple has bought music analytics company Asaii, according to a LinkedIn profile update from the start-ups co-founder, in a move that’s likely to make Apple Music playlists better. Asaii ranks tracks and artists by popularity across music streaming platforms. It’s another means to bolster Apple Music as the company takes on streaming giant Spotify. Apple bought music recognition app Shazam earlier this year. Apple’s subscription service boasted 50 million active users in May, though the company h


Apple has bought music analytics company Asaii, according to a LinkedIn profile update from the start-ups co-founder, in a move that’s likely to make Apple Music playlists better. Asaii ranks tracks and artists by popularity across music streaming platforms. It’s another means to bolster Apple Music as the company takes on streaming giant Spotify. Apple bought music recognition app Shazam earlier this year. Apple’s subscription service boasted 50 million active users in May, though the company h
Apple buys music analytics company Asaii to improve music playlists Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sara salinas, stephen lam
Keywords: news, cnbc, companies, company, bought, analytics, improve, million, buys, playlists, asaii, spotify, streaming, update, music, apple, comment


Apple buys music analytics company Asaii to improve music playlists

Apple has bought music analytics company Asaii, according to a LinkedIn profile update from the start-ups co-founder, in a move that’s likely to make Apple Music playlists better.

Asaii ranks tracks and artists by popularity across music streaming platforms. The company’s machine learning algorithms predict which artists will top the charts next — “to find the next Justin Bieber, before anyone else,” the company says.

It’s another means to bolster Apple Music as the company takes on streaming giant Spotify. Apple bought music recognition app Shazam earlier this year.

Apple’s subscription service boasted 50 million active users in May, though the company hasn’t offered an official update since. Spotify has 83 million paying subscribers and 100 million or so unpaid users.

Apple declined to comment on the Asaii acquisition. Asaii did not immediately respond to request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: sara salinas, stephen lam
Keywords: news, cnbc, companies, company, bought, analytics, improve, million, buys, playlists, asaii, spotify, streaming, update, music, apple, comment


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Snap could go private if it can’t get people to stay on its app for longer, analyst says

Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm. Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users. “Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With


Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm. Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users. “Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With
Snap could go private if it can’t get people to stay on its app for longer, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: lucy handley, adam galica
Keywords: news, cnbc, companies, app, monetization, usage, snapchat, private, improve, snap, company, trends, analyst, research, cant, wieser, longer, stay, recent


Snap could go private if it can't get people to stay on its app for longer, analyst says

Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm.

Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users.

“The data we look at is showing a widening user base, although one which is collectively reducing its time on the platform,” said Brian Wieser, a senior research analyst at Pivotal Research Group, in an email to CNBC.

“Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With ongoing experimentation, we have some faith that they should be able to do both.”

“At the same time, if they are unable to do so in the near term, the company could become an attractive candidate to go private with the stock’s price at current levels,” Wieser added. However, he remained positive overall about the stock and upgraded it from a “hold” to a “buy” in a recent research note.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: lucy handley, adam galica
Keywords: news, cnbc, companies, app, monetization, usage, snapchat, private, improve, snap, company, trends, analyst, research, cant, wieser, longer, stay, recent


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Textio helping Cisco, Atlassian improve workforce diversity

Krupa didn’t hesitate — it was fairly priced, and it’s made a measurable contribution since Cisco launched it for all of the company’s recruiters to use around the world. Textio has contributed to the improvements, Krupa said. Many technology companies have been rushing to improve their diversity numbers after the biggest ones began to report statistics in 2014. Textio was founded the same year, but improving diversity through the analysis of the words people use wasn’t really the original point


Krupa didn’t hesitate — it was fairly priced, and it’s made a measurable contribution since Cisco launched it for all of the company’s recruiters to use around the world. Textio has contributed to the improvements, Krupa said. Many technology companies have been rushing to improve their diversity numbers after the biggest ones began to report statistics in 2014. Textio was founded the same year, but improving diversity through the analysis of the words people use wasn’t really the original point
Textio helping Cisco, Atlassian improve workforce diversity Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-09  Authors: jordan novet, troels graugaard, getty images
Keywords: news, cnbc, companies, startups, atlassian, krupa, cisco, companys, job, helping, diversity, company, improve, textio, technology, based, words, workforce


Textio helping Cisco, Atlassian improve workforce diversity

The other day Michael Krupa signed the paperwork for a two-year renewal of Cisco’s subscription to software from Textio, whose technology helps people write job ads that resonate with a diverse pool of people.

Krupa didn’t hesitate — it was fairly priced, and it’s made a measurable contribution since Cisco launched it for all of the company’s recruiters to use around the world.

Cisco now gets 10 percent more female job candidates and it takes less time to fill positions, said Krupa, senior director for digitization and business intelligence inside the company’s office of inclusion and collaboration.

More from CNBC Upstart 100:

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“We are the most diverse Cisco we’ve been since the year 2000,” Krupa said in an interview with CNBC, pointing to the company’s latest diversity report, which shows 24 percent of Cisco’s worldwide employees are women, while 47 percent of U.S. employees identify as nonwhite or non-Caucasian. Textio has contributed to the improvements, Krupa said.

Many technology companies have been rushing to improve their diversity numbers after the biggest ones began to report statistics in 2014.

Textio was founded the same year, but improving diversity through the analysis of the words people use wasn’t really the original point of the company, said co-founder and chief technology officer Jensen Harris.

At first he and his wife, Kieran Snyder, who is the other co-founder and the start-up’s CEO, imagined putting together a company that could help parents find nearby playgrounds from their mobile devices. The couple, who met while they both worked at Microsoft, incorporated a company called Kidgrid.

But then the couple got a better idea: predicting things like whether Kickstarter campaigns would be funded based purely on the text included in the page about the campaign. They raised their first funding round based on this technology. That’s when they started working on their first product, called Textio Hire, which uses artificial intelligence to analyze job posts as people type them out or edit them, and highlights words that could lead to positive as well as negative outcomes.

As you tweak a job post and improve its content, Textio updates the score for the post, based on how gender-neutral and jargon-free the language is, so that fewer people are discouraged from applying. The service stays hip to changes in language in job descriptions over time.


Company: cnbc, Activity: cnbc, Date: 2018-10-09  Authors: jordan novet, troels graugaard, getty images
Keywords: news, cnbc, companies, startups, atlassian, krupa, cisco, companys, job, helping, diversity, company, improve, textio, technology, based, words, workforce


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Ford is planning cuts to its salaried workforce

Ford said Friday that it is planning cut to its salaried workforce in an effort to make the company more efficient. The news was reported Friday in both the Detroit News and Detroit Free Press, but confirmed with CNBC. The company does not yet know how many jobs it plans to cut, the company said. Ford said it employs 70,000 salaried workers. Ford hired Hackett in early 2017 after seeing its stock languish under previous management, despite delivering several profitable quarters.


Ford said Friday that it is planning cut to its salaried workforce in an effort to make the company more efficient. The news was reported Friday in both the Detroit News and Detroit Free Press, but confirmed with CNBC. The company does not yet know how many jobs it plans to cut, the company said. Ford said it employs 70,000 salaried workers. Ford hired Hackett in early 2017 after seeing its stock languish under previous management, despite delivering several profitable quarters.
Ford is planning cuts to its salaried workforce Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: robert ferris, rebecca cook
Keywords: news, cnbc, companies, improve, detroit, cut, company, salaried, cuts, hackett, ford, planning, plans, fallen, workforce, stock


Ford is planning cuts to its salaried workforce

Ford said Friday that it is planning cut to its salaried workforce in an effort to make the company more efficient.

The news was reported Friday in both the Detroit News and Detroit Free Press, but confirmed with CNBC.

The company does not yet know how many jobs it plans to cut, the company said. But it expects to have more details by the second quarter of 2019. Ford said it employs 70,000 salaried workers.

CEO Jim Hackett has said the second-largest U.S. automaker needs to improve its financial health.

Shares of Ford ended the day down less than 1 percent at $9.12. The stock has fallen about 27 percent since the beginning of the year.

Ford hired Hackett in early 2017 after seeing its stock languish under previous management, despite delivering several profitable quarters. However, since then some investors have grown frustrated with what they say is a lack of a specific plans to improve the company’s outlook. The shares have fallen from a 52-week high of $13.33 set on Jan. 16 to a 52-week low of $9.09 on Thursday.


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: robert ferris, rebecca cook
Keywords: news, cnbc, companies, improve, detroit, cut, company, salaried, cuts, hackett, ford, planning, plans, fallen, workforce, stock


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The new NAFTA deal doesn’t mean US-China trade relations are about to improve

A last-gasp deal to salvage the North American Free Trade Agreement (NAFTA) does nothing to improve the prospect of a meaningful breakthrough in the U.S.-China trade war, one market expert told CNBC on Monday. Just hours before a midnight deadline, U.S. and Canadian officials reached a deal to revamp NAFTA, which also includes Mexico, after more than a year of grueling negotiations. Until recently, Canada appeared to be on the brink of being excluded from a final agreement but negotiations over


A last-gasp deal to salvage the North American Free Trade Agreement (NAFTA) does nothing to improve the prospect of a meaningful breakthrough in the U.S.-China trade war, one market expert told CNBC on Monday. Just hours before a midnight deadline, U.S. and Canadian officials reached a deal to revamp NAFTA, which also includes Mexico, after more than a year of grueling negotiations. Until recently, Canada appeared to be on the brink of being excluded from a final agreement but negotiations over
The new NAFTA deal doesn’t mean US-China trade relations are about to improve Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: sam meredith, rebecca cook
Keywords: news, cnbc, companies, nafta, breakthrough, market, deal, relations, agreement, weekend, expert, mean, war, improve, trade, doesnt, uschina, told


The new NAFTA deal doesn't mean US-China trade relations are about to improve

A last-gasp deal to salvage the North American Free Trade Agreement (NAFTA) does nothing to improve the prospect of a meaningful breakthrough in the U.S.-China trade war, one market expert told CNBC on Monday.

Just hours before a midnight deadline, U.S. and Canadian officials reached a deal to revamp NAFTA, which also includes Mexico, after more than a year of grueling negotiations.

Until recently, Canada appeared to be on the brink of being excluded from a final agreement but negotiations over the weekend eventually culminated in all three countries signing up to the new United States-Mexico-Canada (USMCA) accord.

However, one market expert cautioned the new NAFTA deal shouldn’t be seen as a sign that there could soon be a breakthrough in troubled trade relations between the U.S. and China.

“I do believe that unfortunately the China story is a lot more complicated (than NAFTA talks),” Luis Costa, head of CEEMEA FX and rates strategy at Citibank, told CNBC’s “Squawk Box Europe” on Monday.


Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: sam meredith, rebecca cook
Keywords: news, cnbc, companies, nafta, breakthrough, market, deal, relations, agreement, weekend, expert, mean, war, improve, trade, doesnt, uschina, told


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California just became the first state to require women on corporate boards

The bill requires that every publicly traded corporation headquartered in California have at least one women on their board of directors by the end of 2019, according to the Los Angeles Times. Companies with six or more members on their board of directors will be required to have at least three women by the end of 2021. They will also be fined $100,000 if they do not report the gender ratio of their board of directors to the California secretary of state. “It’s a clear gender preference in that


The bill requires that every publicly traded corporation headquartered in California have at least one women on their board of directors by the end of 2019, according to the Los Angeles Times. Companies with six or more members on their board of directors will be required to have at least three women by the end of 2021. They will also be fined $100,000 if they do not report the gender ratio of their board of directors to the California secretary of state. “It’s a clear gender preference in that
California just became the first state to require women on corporate boards Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: abigail hess, rawpixel ltd, getty images
Keywords: news, cnbc, companies, corporate, california, women, tells, board, bill, boards, improve, directors, companies, state, require, gender


California just became the first state to require women on corporate boards

The bill requires that every publicly traded corporation headquartered in California have at least one women on their board of directors by the end of 2019, according to the Los Angeles Times. Companies with six or more members on their board of directors will be required to have at least three women by the end of 2021.

According to the Associated Press, companies will be fined $100,000 the first year they fail to meet these requirements and $300,000 for each additional year they do not comply. They will also be fined $100,000 if they do not report the gender ratio of their board of directors to the California secretary of state.

The text of the bill suggests that promoting gender equality on corporate boards will not only improve opportunities for women and girls but will also improve productivity, citing a 2014 study from Credit Suisse that found that companies with all-male boards had an average return on equity of 10.1 percent while companies with at least one woman director had an average return on equity of 12.2 percent.

Critics of the bill, however, say that it will make it more difficult for companies to improve racial and ethnic diversity. Jennifer Barrera, senior vice president of the California Chamber of Commerce, tells the AP, the bill “creates a challenge for a board on achieving broader diversity goals.”

Still others question the bill’s legality. “I’m not at all convinced it would pass legal muster,” Jessica Levinson, a professor at Loyola Law School, tells the Los Angeles Times. “It’s a clear gender preference in that you are saying you need to single out women and get them on boards. The question is, can you make that preference and will it hurt men.”

Still, the authors of the bill maintain that the measure is necessary to achieve better representation for women. “We know that when boards are diverse and women’s voices are heard, it’s better for the whole workforce,” State Senator Connie Leyva tells the San Francisco Chronicle. She says that Senate Bill 826 sends “a big message to women that we value them, we respect them here in California.”

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Company: cnbc, Activity: cnbc, Date: 2018-10-01  Authors: abigail hess, rawpixel ltd, getty images
Keywords: news, cnbc, companies, corporate, california, women, tells, board, bill, boards, improve, directors, companies, state, require, gender


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Snap shares rise after analyst upgrade, saying recent executive hires will improve results

The firm raised its rating to outperform from neutral for Snap shares, saying the company’s recent executive changes will lead to stronger results. Snap shares are up 2.4 percent Tuesday. The company’s shares are significantly underperforming this year, down 33 percent through Monday versus the S&P 500’s 8 percent gain. Pachter raised his price target to $12.25 from $11.50 for Snap shares, representing 26 percent upside to Monday’s closing price. On Monday Snap shares fell 1.9 percent after the


The firm raised its rating to outperform from neutral for Snap shares, saying the company’s recent executive changes will lead to stronger results. Snap shares are up 2.4 percent Tuesday. The company’s shares are significantly underperforming this year, down 33 percent through Monday versus the S&P 500’s 8 percent gain. Pachter raised his price target to $12.25 from $11.50 for Snap shares, representing 26 percent upside to Monday’s closing price. On Monday Snap shares fell 1.9 percent after the
Snap shares rise after analyst upgrade, saying recent executive hires will improve results Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-11  Authors: tae kim, michael nagle, bloomberg, getty images, source, joe skipper, devan burris, saul loeb, afp
Keywords: news, cnbc, companies, improve, snap, executive, recent, strategy, upgrade, rise, companys, company, snaps, upside, hires, stone, view, saying, results, shares


Snap shares rise after analyst upgrade, saying recent executive hires will improve results

The big dip in Snap’s stock is a great buying opportunity, according to Wedbush Securities.

The firm raised its rating to outperform from neutral for Snap shares, saying the company’s recent executive changes will lead to stronger results.

“In our view, the change in top management positions the company to significantly improve its execution, and its valuation suggests upside from current levels,” analyst Michael Pachter said in a note to clients Tuesday. “Key hires and execution over the past six months suggest increased focus on shareholder value.”

Snap shares are up 2.4 percent Tuesday.

The company’s shares are significantly underperforming this year, down 33 percent through Monday versus the S&P 500’s 8 percent gain.

Pachter raised his price target to $12.25 from $11.50 for Snap shares, representing 26 percent upside to Monday’s closing price.

The analyst is impressed with the company’s recent financial executive hires. He noted Snap’s new chief financial officer, Tim Stone, had nearly two decades of experience at Amazon before joining the company in May.

On Monday Snap shares fell 1.9 percent after the company announced its chief strategy officer Imran Khan is leaving the company.

“The departure of Mr. Khan makes Mr. Stone both more visible and more vital in our view, and gives us confidence that corporate governance will improve and have a measurable impact on the development of and articulation of the company’s strategy,” he said.

Pachter also noted Snap’s new investor relations executive, Kristin Southey, who served in a similar role at Activision Blizzard for 15 years.

Southey “professionalizes the IR function, and increases our confidence that a unified and clear message will be articulated to shareholders,” he said.

Disclosure: CNBC parent NBCUniversal is an investor in Snap.


Company: cnbc, Activity: cnbc, Date: 2018-09-11  Authors: tae kim, michael nagle, bloomberg, getty images, source, joe skipper, devan burris, saul loeb, afp
Keywords: news, cnbc, companies, improve, snap, executive, recent, strategy, upgrade, rise, companys, company, snaps, upside, hires, stone, view, saying, results, shares


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