Biden senior advisor Anita Dunn has to divest investment portfolio worth between $16.8 million and $48.2 million to avoid conflicts

White House senior advisor Anita Dunn is being forced to divest an investment portfolio worth an estimated $16.8 million to $48.2 million that ethics attorneys say poses significant conflicts of interest in her new role. The political and communication’s strategist will also have to recuse herself from a myriad of domestic and international issues that affect her former clients. Dunn’s newly released financial disclosures, which are 93 pages long, show extensive stock, options, bond and private equity holdings — a fortune she and her husband, veteran attorney Bob Bauer, have…

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Stocks making the biggest moves premarket: Honest Company, Rivian, Illumina and others

Check out the companies making headlines before the bell: Honest Company (HNST) – Honest Company’s stock rose 1.6% in the premarket in spite of a wider-than-expected quarterly loss. The natural consumer products maker now sees a wider full-year loss than previously thought, due to cost pressures, but expects improvement as the year goes on, including positive adjusted earnings for the fourth quarter. Rivian Automotive (RIVN) – Rivian shares fell 1% in premarket trading after the electric vehicle maker widened its loss estimate for 2022. It also affirmed prior production guidance.…

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Huawei’s second quarter revenue rises slightly from a year ago

Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Pictured here on July 8, 2022, is a Huawei flagship store in Shenzhen, Guangdong province of China. Jade Gao | Afp | Getty Images BEIJING — Chinese telecommunications giant Huawei released figures Friday that showed its first quarterly increase in revenue since 2020. Huawei has come under pressure in the last few years from U.S. sanctions. Last year, Huawei reported its first annual revenue decline on record. However, the company’s latest figures showed…

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This Chinese province set a 9% GDP target — but then it locked down

Sanya, on the southern coast of Hainan, was the top destination for couples flying from three of China’s largest cities last week for China’s version of Valentine’s Day, according to booking site Trip.com. Lucas Schifres | Getty Images News | Getty Images BEIJING — China’s tourist-heavy province of Hainan is falling further behind lofty growth goals it set in January. Back then, the island said it aimed for 9% GDP growth this year. But like China’s economy overall, growth is running far below initial targets — due in a large…

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Cramer’s lightning round: Charles Schwab is terrific

Amyris Inc: “There’s another company called IFF … that does a better job.” TechnipFMC PLC: “I like that company very, very much. … Maybe wait for a couple day pullback.” Canopy Growth Corp: “If Canopy Growth is good, then that means that you have one more reason to buy Constellation Brands. … I would buy it right here, right now, tomorrow morning.” Disclosure; Cramer’s Charitable Trust owns shares of Constellation Brands. Source link

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Jim Cramer says to pick up these four stocks if the market goes down on Friday

CNBC’s Jim Cramer offered a list of stocks to buy on Friday if the market declines. “I was very disappointed in the performance of the tech stocks today … That said, I think the market will let you into the best ones and you’re going to get better prices again,” the “Mad Money” host said Thursday. While stocks jumped on Thursday on the heels of the softer-than-expected PPI reading, they slumped by the end of the trading session. The tech-heavy Nasdaq Composite and S&P 500 both ended down while the…

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Gas prices are falling — Here’s why it’s happening and whether it can continue

A customer pumps gas at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images Gas prices are below $4 for the first time since March, but the market remains precarious and experts said it’s too early to know if the move lower will hold. The national average for a gallon of gas has fallen for the last 58 straight sessions, according to AAA, and is now $3.99 per gallon. The fall from June, when prices topped out above $5, has been fast.   Here’s…

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Stocks making the biggest moves midday: Six Flags, Disney, Sonos and more

Customers are socially distanced on rides like the Wonder Woman: Lasso of Truth at Six Flags Great Adventure in Jackson, New Jersey. Kenneth Kiesnoski/CNBC Check out the companies making headlines in midday trading. Six Flags — Shares dropped more than 22% after the theme park company sharply missed second-quarter earnings expectations. Six Flags reported earnings of 53 cents per share on revenue of $435 million. Analysts surveyed by Refinitiv forecast earnings of $1.01 per share on revenue of $519 million. The theme park operator attributed the miss to weak attendance,…

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Charts suggest oil could bounce temporarily then head lower, Jim Cramer says

CNBC’s Jim Cramer on Wednesday said that oil could rally in the short term, but it’s unlikely to last. “The charts, as interpreted by Carley Garner, suggest that oil could be due for a short-term bounce, but over the next few months she ultimately sees it headed lower — possibly much lower. That’s exactly what the [Federal Reserve] needs to see [to tamp down inflation],” the “Mad Money” host said. OPEC+, a group made up of OPEC and non-OPEC partners, said last week that it is sticking with its planned…

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Stocks making the biggest moves premarket: Six Flags, Canada Goose, Warby Parker and more

Check out the companies making headlines before the bell: Six Flags (SIX) – The theme park operator’s stock tumbled 12.8% in the premarket after its quarterly profit and revenue fell well short of Wall Street forecasts. Six Flags saw its results hit by a 22% drop in attendance, among other factors. Canada Goose (GOOS) – The outerwear maker reported a smaller-than-expected quarterly loss, with revenue exceeding analyst forecasts. Canada Goose is the latest luxury retailer to see its high-end consumers maintain their spending levels. The stock added 2.4% in premarket…

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