Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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Jim Cramer says he expects ‘many layoffs’ at companies after Christmas

CNBC’s Jim Cramer on Tuesday predicted that more companies will trim their workforces after the holiday season. “I’m sure there’ll be many layoffs after Christmas. I don’t want to finger-point at the retailers who’re most likely to be thrown into bankruptcy when the holidays are over, but I do want people to realize that, in a way, our current high-inflation economy is a high-quality problem,” he said. A growing number of companies across industries have curtailed their headcounts this year in an effort to control their expenses in a dipping…

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PepsiCo plans to cut hundreds of corporate jobs, report says

Pepsi soft drinks are displayed at a convenience store in San Francisco, California. Justin Sullivan | Getty Images PepsiCo is eliminating hundreds of corporate jobs in North America, according to the Wall Street Journal. The layoffs will affect employees of its food and beverage businesses in Chicago; Plano, Texas and Purchase, New York, the Journal reported, citing people familiar with the matter and a company memo. PepsiCo’s portfolio includes Gatorade drinks, Frito-Lay snacks and Quaker Oats foods. The company’s beverage unit is expected to be hit harder by the cuts…

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Civil rights leaders call for all advertisers to stop spending on Twitter

Elon Musk’s photo is seen through a Twitter logo in this illustration taken October 28, 2022. Dado Ruvic | Reuters While Elon Musk complains publicly about advertisers abandoning Twitter due to activist pressure, a coalition of civil rights groups is escalating a call for brands to halt spending on the platform in light of what they see as inflammatory rhetoric and problematic policy changes from the company’s new owner. The coalition, dubbed #StopToxicTwitter, consists of organizations including Media Matters, Free Press, Accountable Tech and Color of Change. Earlier this week,…

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Facebook used to be a Big Tech giant — now Meta isn’t even in the top 20 most valuable U.S. companies

Mark Zuckerberg during Metaverse conversation on CNBC Source: CNBC Sixteen months after Facebook crossed $1 trillion in market cap, joining an exclusive club consisting of Apple, Microsoft, Apple and Amazon, its parent company Meta is worth less than Home Depot and barely more than Pfizer and Coca-Cola. Far from Facebook’s Big Tech days, Meta is no longer among the 20 most valuable U.S. companies after the stock sank 23% on Thursday. The company has lost 70% of its value this year and 74% since the stock peaked in Sept. 2021,…

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Fanatics hires its first chief people officer as Michael Rubin’s sports business giant expands

Orlando Ashford has been appointed chief people officer of Michael Rubin’s sports business platform Fanatics. Source: Fanatics Orlando Ashford, known for holding senior level HR roles at Fortune 500 companies like Marsh & McLennan, Coca-Cola and Motorola, is joining Fanatics in a newly created role as chief people officer, the company announced Thursday. Ashford will report directly to both CEO Michael Rubin and CFO Glenn Schiffman. At Fanatics, he will be tasked with managing global human resources, which includes matters that range from talent development to diversity and inclusion efforts,…

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Stocks making the biggest moves premarket: Coca-Cola, General Motors, JetBlue and others

Check out the companies making headlines before the bell: Coca-Cola (KO) – Coca-Cola shares rose 2.9% in the premarket after the beverage giant’ third-quarter earnings and sales beat Street forecasts. The company also raised its full-year outlook as demand remains steady even as it has raised prices to make up for higher expenses. General Motors (GM) – GM shares rallied 4.4% in premarket trading after the automaker reported a better-than-expected third-quarter profit, helped by rebounding sales. GM also said supply chain constraints are easing, allowing it to increase inventories on…

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Coca-Cola is about to report earnings. Here’s what to expect

A Coca-Cola truck in New York City. Alexi Rosenfeld | Getty Images Coca-Cola is expected to report its third-quarter earnings before the bell on Tuesday. Here’s what Wall Street analysts surveyed by Refinitiv are expecting: Earnings per share: 64 cents expected Revenue: $10.52 billion expected Rival PepsiCo reported its results earlier this month and hiked its full-year outlook as higher prices fueled sales growth for drinks like Gatorade and Mountain Dew. Coke has similarly been raising prices to mitigate higher costs, but investors will be watching for any signs that…

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Cramer’s week ahead: Earnings season heats up and companies could ‘keep flying’ barring a severe slowdown

CNBC’s Jim Cramer on Friday told investors that stocks will likely continue to do well as long as the economy holds up. “Many companies have battened down the hatches, so to speak, and prepped for a recession. So if we don’t get a severe slowdown, they will indeed keep flying,” he said. He also previewed next week’s slate of earnings. All earnings and revenue estimates are courtesy of FactSet. Monday: Logitech Q2 2023 earnings release at 9 p.m. ET; conference call on Tuesday at 8:30 a.m. ET Projected EPS: 85…

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Jim Cramer makes the bull case for consumer goods stocks

CNBC’s Jim Cramer on Wednesday told investors to consider adding shares of well-established consumer packaged-goods companies to their portfolios. “Nobody’s championing what actually works: these old-line consumer packaged-goods names that we all know,” he said. Cramer highlighted three companies’ most recent quarterly results as examples of why investors should have such stocks on their shopping lists: “I bet we get something similar from Bristol-Myers, Coca-Cola and Eli Lilly [when they report earnings],” he said. Cramer also reiterated two points that he’s made throughout this year: invest in boring companies with…

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