The NFL kicks off its first ever game in South America on Friday night, as the league pushes to grow its footprint overseas.As the NFL enters the Southern Hemisphere, professional football has never been stronger financially. Last season, the league pulled in $13 billion in revenue, and the average team is worth about $6.5 billion, according to CNBC’s Official NFL Team Valuations.But as the league tries to sustain its growth, international markets are a priority.Ahead of the league’s inaugural game in Sao Paulo, Brazil, on Friday, NFL Commissioner Roger Goodell told CNBC’s “Squawk Box” the league aims to become an…
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Goldman Sachs said investors shouldn’t pull the plug on Broadcom after its latest earnings report. Analyst Toshiya Hari reiterated a buy rating on the semiconductor and infrastructure software supplier on Friday. Hari’s $190 price target implies shares can rally 24% from Thursday’s closing level. Hari’s call comes one day after Broadcom posted fiscal third-quarter earnings that beat analyst estimates for both revenue and earnings. But Broadcom also said revenue in the current quarter should come in at about $14 billion, a touch below the consensus estimate of $14.11 billion, based on analysts polled by FactSet. The Goldman analyst also noted…
The early September pullback has made lots of stocks attractive. Savita Subramanian thinks investors need to be cautious, however. “The name of the game is don’t be a hero,” Bank of America’s head of U.S. equity and quantitative strategy, told CNBC’s ” Squawk Box ” on Friday. “Park in safe, total-return type vehicles where you get paid to wait.” Subramanian mentioned utilities and real estate as sectors that can help investors navigate this tough market. The Real Estate Select Sector SPDR Fund (XLRE) and Utilities Select Sector SPDR Fund (XLU) are each up more than 5% in the past month.…
Here are five key things investors need to know to start the trading day:1. Zero-for-three for the S&PStocks saw more losses on Thursday, with the S&P 500 suffering its third straight session of the month in the red. The broad market index fell 0.3% to close out the session at 5,503.41. The Dow Jones Industrial Average also suffered losses, sliding 0.54% to finish at 40,755.75. Unlike those two major averages, the Nasdaq Composite ended the session with gains. The tech-heavy index rose 0.25% to finish at 17,127.66, even moving as high as 1.2% earlier in the session. Arun Sai, senior…
Pavel Durov, chief executive officer of Telegram, at the Mobile World Congress in Barcelona, Spain, on Tuesday, Feb. 23, 2016.Chris Ratcliffe | Bloomberg | Getty ImagesThe boss of messaging platform Telegram said late Thursday that charges against him by France are “misguided,” in his first public comments since being detained in the country nearly two weeks ago.Pavel Durov, who founded Telegram in 2013, was last week charged with enabling criminal activity on the messaging app — including dissemination of child pornography, drug trafficking, and fraud, and refusal to share information with authorities.One of the charges — complicity in the administration…
The entrance to Google’s U.K. offices in London.Olly Curtis | Future Publishing | via Getty ImagesLONDON — Britain’s competition watchdog on Friday issued a statement of objections over Google’s ad tech practices, which the regulator provisionally found are impacting competition in the U.K.In a statement, the Competition and Markets Authority alleged that the U.S. internet search titan “has harmed competition by using its dominance in online display advertising to favour its own ad tech services.”The “vast majority” of the U.K.’s thousands of publishers and advertisers use Google’s technology in order to bid for and sell space to display ads, the…
Nobel Prize-winning economist Joseph Stiglitz says the Federal Reserve should deliver a half-point interest rate cut at its forthcoming meeting, accusing the U.S. central bank of going “too far, too fast” with monetary policy tightening and making the inflation problem worse.His comments come ahead of Friday’s pivotal release of U.S. jobs data, with investors closely monitoring the August nonfarm payrolls count for clues on the size of an expected rate cut this month. The jobs data is scheduled out at 8:30 a.m. ET.Strategists have typically said that the most likely outcome from the Fed’s Sept. 17-18 meeting is a 25-basis-point…
U.S. Federal Reserve Chairman Jerome Powell holds a press conference after the release of the Fed policy decision to leave interest rates unchanged, at the Federal Reserve in Washington, U.S, September 20, 2023. REUTERS/Evelyn HocksteinEvelyn Hockstein | ReutersAs investors await the upcoming rate decision by the U.S. Federal Reserve this month, Carl Weinberg of High Frequency Economics said that a deep interest rate cut was unlikely.Policymakers at the U.S. central bank are widely expected to begin lowering interest rates as they meet on Sept. 17-18, marking a shift from the post-pandemic policy tightening that has raised fears of a U.S.…
A man uses an umbrella for shade in Seoul on August 14, 2024, during a prolonged heatwave which has gripped much of the country.Anthony Wallace | Afp | Getty ImagesThe summer of 2024 was the hottest on record, according to the European Union’s climate monitor, extending an alarming run of temperature records that has put the planet firmly on course to notch its hottest year in human history.The EU’s Copernicus Climate Change Service (C3S) said on Friday that the global average temperature for the boreal summer, which refers to the Northern Hemisphere’s June through August period, was the highest on…
Customers exit a 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kobe, Japan, on Friday, Aug. 30, 2024. Alimentation Couche-Tard Inc. had made a preliminary non-binding proposal to buy Seven & i, which operates more than 85,000 stores across the globe, and the deal would be the biggest-ever foreign takeover of a Japanese company. Photographer: Soichiro Koriyama/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesSeven & i Holdings has rejected the takeover offer from Canadian convenience store operator Alimentation Couche-Tard, saying the offer “is not in the best interest” of its shareholders and stakeholders.In a filing with…