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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Tesla plans to spend $3.6 billion more on battery and truck manufacturing in Nevada

An aerial view of the Tesla Gigafactory near Sparks, Nevada Bob Strong | Reuters Tesla plans to spend $3.6 billion more on expanded battery and heavy duty truck manufacturing in Nevada, the company said Tuesday on social media. According to its public statements, Tesla intends to hire 3,000 more people across two new facilities eventually. It wasn’t immediately clear whether Tesla’s plans expand the company’s manufacturing footprint beyond the property it is already developing outside of Reno in Sparks, Nevada. Tesla said in a statement that its new facilities will…

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Jim Cramer says he likes these 5 Nasdaq stocks for 2023

CNBC’s Jim Cramer on Thursday gave investors a list of stocks that he believes could be worthwhile additions to investors’ portfolios. All of his picks are listed in the Nasdaq Composite. While the index is heavy with tech stocks that were hammered last year, there are still names that could perform well even in a recessionary environment, according to Cramer. “In an index that’s been folded, spindled and mutilated, I am still feeling good about a few of these stocks,” he said. Here are his picks: T-Mobile Cramer said that…

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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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Tesla CEO Elon Musk kicks off first Semi truck deliveries

Tesla CEO Elon Musk kicks off deliveries of the company’s heavy-duty truck, the Semi, at the Gigafactory in Sparks, Nevada. Tesla Inc. Tesla CEO Elon Musk kicked off deliveries of the company’s first few production Semi trucks on Thursday, speaking on stage at the company’s factory in Sparks, Nevada, with Dan Priestly, the company’s senior manager for Semi truck engineering. As CNBC previously reported, Tesla set up lines and started production of the Semi outside of Reno this year at the site where it primarily makes the battery cells, drive…

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Jim Cramer says these 10 ‘old guard’ stocks are making a comeback

CNBC’s Jim Cramer on Tuesday offered investors a list of 10 companies that he believes are rising to the top as tech stocks collapse. “It’s the revenge of the old guard right now, right here. All sorts of boring, conventional companies are taking back the market while the digitizers and disruptors are being burned,” he said. Here is his list: Johnson & Johnson Eli Lilly Boeing Honeywell Raytheon Caterpillar Deere & Co PepsiCo Starbucks Nucor  Cramer also warned that many investors refuse to embrace the “new reality” of the market’s…

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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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Beyond Meat is rolling out its steak substitute in grocery stores

Beyond Steak Source: Beyond Meat Beyond Meat is launching a steak substitute in grocery stores on Monday. The new product will roll out nationwide at more than 5,000 Kroger and Walmart stores, as well as Albertsons, Ahold Delhaize, Jewel-Osco, Sprouts and other local grocers. The announcement concludes a rocky month for the maker of meat alternatives. Beyond ousted Chief Operating Officer Doug Ramsey after he was arrested for allegedly biting another man’s nose. The company also announced plans to cut 19% of its workforce, or roughly 200 employees, as well…

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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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