All stocks and economy. All the time. Except when I mix in references to sports and pop culture. Senior markets analysis writer
@barronsonline
. Ex-
@CNNBusiness
.
Personal news! I'm part of the
@CNN
layoffs. I'll keep working until early March. After that? A much needed break to recharge after 21+ years! I feel awful for my amazing colleagues who are losing their jobs. But don't cry for me. I'll be fine. Now it's time to get back to work!
McDonald's has a limited edition MacCoin to commemorate the 50th anniversary of the Big Mac. It's an actual coin. Not a cryptocurrency. How quaint! $MCD
If there were a way to double, triple, or even quadruple heart this tweet, I would. Every
@CNN
employee I know has nothing but praise and thanks for the brave security people in our building, NYPD, FBI, etc. that have helped protect us.
JPMorgan Chase CEO Jamie Dimon unsurprisingly has a very gloomy outlook for the US economy. But he says $JPM is ready to lend to businesses and consumers in need -- and criticizes politicians for botched Covid-19 preparations/planning. My story.
First it was deals with streaming media giants $NFLX $SPOT and $AAPL. Now The Duke and Duchess of Sussex are looking to become investing royalty too. More on the ESG deal originally reported by
@dealbook
. My story.
No. BTS isn’t playing in Omaha. This is the line to get into the
@CHICenterOmaha
today for the start of the Berkshire shareholder festivities!
#BRK2019
Personal news! I'll be starting at
@barronsonline
on 3/4 as a senior markets analysis writer. So excited to be joining such a great newsroom of talented editors and reporters. Looking forward to continuing to write about investing!
Interesting take here from Democratic presidential contender
@AndrewYang
in an op-ed for
@CNNBusiness
. The name may need to be workshopped a bit. But as a parent of two young kids, I share the concerns about too much screen time.
Here we go. US CPI up 0.1% month over month in August. More than expected. And up 8.3% year over year. Also a little higher than forecast but down from last month's 8.5% pace.
#inflation
Cannabis and Martha Stewart. Perfect together? Canopy Growth partnering with Sequential Brands on hemp and CBD products and Martha Stewart will be a Canopy advisor. $CGC up 3%. Penny stock $SQBG up 30%.
Good morning from Omaha! Change of plan though. Instead of going to see Warren Buffett, I will try to find the Cinnabon where Saul Goodman works.
@BetterCallSaul
#BRK2019
People going out again. And America still making stuff. Leisure/hospitality added 78K jobs in April, with 44K in food/drinking places and 22K in accommodation. Leisure/hospitality still down 1.4M jobs since pre-pandemic though. Manufacturing a bright spot too. Added 55K jobs.
US econ data out this morning. Second revision of Q4 GDP showed 7% annualized growth, up from earlier estimate of 6.9%. In line with forecasts. And latest weekly jobless claims fell to 232K. Down from week ago and below estimates.
So long MoviePass? $HMNY says "MoviePass notified its subscribers that it would be interrupting the MoviePass service for all its subscribers effective September 14, 2019, because its efforts to recapitalize MoviePass have not been successful to date."
These two kids are trending on Twitter today because of their In the Air Tonight and Jolene videos. Absolutely LOVE this and I wish them much success. Awesome.
Tomorrow is my last day at
@CNN
. Been a heck of a ride. Think I’ll be on
@cnni
for some final TV hits. And I’m going to “work” in the office. So here’s hoping the commute is smooth! Ciao.
🎶The time is now
The day is here
My last day at
@CNN
was a year ago. But I'm excited for my new work chapter to begin! Starting Monday at
@barronsonline
as a senior markets analysis writer. Can't wait! Thanks again to
@investorplace
&
@IBDinvestors
for freelance gigs! Now it's time to go enjoy the weekend! Ciao.
Gilead Sciences says it is pricing its remdesivir treatment, which could be used for Covid-19 patients, at $390 a vial. Typical patient needs 6 vials for 5 days. So that works out to $2,340. $GILD
Wow. Started
@CNN
Nov. '01. Amazing 21+ years. Thanks to all who followed me. Gonna take Twitter break for a bit. But looking forward to what's next. I'll leave you with a song that came out just before I began here. Bye. But only for now. This is NOT it.
Tough one today. November 5, 2014. My father passed away. November 5, 2017. My wife’s father passed away. We both miss our dads. And it saddens me that our two sons only got to know them for a few years. But we have the memories. 😞
I've lost track of all the amazing colleagues at
@CNN
that got the bad news yesterday. But to any editors, HR people, headhunters, etc: please do yourself a favor and reach out to these soon to be former CNN people. So many talented reporters and editors who deserve new job ASAP.
Criticism from
@DivesTech
on Musk/Twitter $TSLA. “Very nervous few months ahead for Tesla investors as they remain the ones that have been punched again and again by the Musk Twitter antics and the stock now is deep in the investor penalty box.” Calls it “dark comedy show.”
Some long-term crypto HODLers wish Elon Musk would put the phone down and focus more on building cool electric cars and trucks for Tesla and less on what's going on with bitcoin and doge. My story. $TSLA $BTC
#dogecoin
Taking one last week off next week before my LAST week at CNN. Planned before layoff news. Really going to try and just stay off Twitter until 2/27 and take it easy. After all, they say it's my birthday at some point next week. The big 5-0! Ciao! 🎂 🎉 🥃
Short sellers are learning the hard way that you fight the Reddit WSB board at your own peril. Just look at what's happened to investors betting against GameStop. My story on the dramatic surge in $GME shares this year.
Spoiler free tweet for those who haven’t watched yet. But episode 8 of
@BetterCallSaul
season 5? Bagman? Wow. Floored. Can you say Ozymandias?
@BreakingBad
$AMCX
I love my children. Dearly. But I'm officially at the point where working from home has lost all of its allure. They are so loud. All the time. And the fact that they are both young boys means it is constantly WrestleMania + UFC in the apartment. Sigh.
Bad Boys 3 trending. Looks like Bad Boys For Life is really finally happening. I was 22 and about to graduate college when the first movie came out. I'll be almost 47 with 10-year old & 6.5 year-old bad boys of my own when this hits theaters in 2020. Gulp!
Can't stress this enough. Fact checking is NOT censorship. Trying to prevent the 21st century equivalent of screaming FIRE in a crowded theater or inciting violence is NOT censorship. $TWTR
Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and “smart!” You shouldn’t be partners with a Gas Killing Animal who kills his people and enjoys it!
Parent-teacher conference last night. Buzz, Jr. wrote an essay about why I am his role model. “My dad is very good at writing stories.” I’m not crying. You’re crying!
Honest question for people who won't wear masks. I get this a free country. But do you also not wear seat belts in a car or plane, smoke in enclosed public spaces & drive 100 miles per hour because it's a free country? There are some laws/requirements for good reasons. Rant over.
As someone who wrote for an online only publication for the past 20+ years, it’s been awhile since I’ve seen my name in print. Never gets old.
@barronsonline
$DJT
Gap chairman Robert Fisher on the Old Navy split. "It’s clear that Old Navy’s business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thrive moving forward." $GPS
New S&P 500 earnings estimates from
@FactSet
. Numbers still coming down.
Q1: -14.6%
Q2: -42.9%
Q3: -24.8%
Q4: -12.4%.
Full year 2020: -20.8%
Sales plunging too. 2020 top line expected to drop 3.9%
But Wall Street forecasting 27.8% EPS rebound in 2021 & 8.6% revenue growth.
Here are latest estimates from
@FactSet
on earnings for 2020. Slightly worse than last week but revisions aren't dramatic. Stopping the bleeding?
Q1: -13.8%
Q2: -41.9%
Q3: -23.8%
Q4: -11.6%
Full year 2020: -19.7%
Analysts now projecting 27.3% profit rebound in 2021. Too rosy?
Working from home tomorrow and then it's one last day in the office Friday to wrap up my career at CNN. So how about we commemorate the occasion with some Europe!
#ilovethe80s
Good night.
🎶We're leavin' together
But still it's farewell
No sugarcoating it. Jobless claims numbers were brutal. 965,000. Nearly 200K higher than expected and big jump from last week. More stimulus is needed.
I first entered this building in 2004 as a 31-year old engaged renter. I leave it as a 46-year old married man with a mortgage, 2 kids & many good CNNMoney/
@CNNBusiness
memories & friends. Okay. 2008 wasn't fun. But it was exhilarating! So long, TWC. Next stop, Hudson Yards! Bye!
I was reminded this morning by
@chrisidore
, one of the few people who's actually been at
@CNNBusiness
longer than I have, that today is my 20th anniversary at
@CNN
. Wow. Time surely does fly. Here's to many more!
Is it God’s plan to use more cannabis? Canada’s Canopy Growth and Drake (I believe he’s Canadian too...heh) announce the creation of More Life Growth Company. $CGC up 2.5%
#premarket
.
This is no longer about politics. It's about common human decency. No matter what you think of the views of Roseanne and Samantha Bee, can't we all at least agree that this lowest common denominator name calling is unhealthy and not helping the country? Please?
More on $GME from
@ihors3
at
@S3Partners
. "We are seeing a short-squeeze on older shorts who have incurred massive mark-to-market losses on their positions but are seeing new shorts coming in and using any stock borrows that become available to initiate new short positions."
Bitcoin prices are at their highest levels in nearly three years. Will we soon surpass the record of near $20,000? Crypto experts are unsurprisingly bullish. My story. $BTC $XBT
Bitcoin prices have soared and are nearing $20,000. But there are plenty of other cryptocurrencies out there that have enjoyed larger pops recently. My story.
You might think I’m crazy. But that song (and many others by The Cars) really was a big influence for a lot of Gen Xers growing up on MTV. RIP Ric Ocasek. You kept it going 'till the sun fell down. You kept it going.
In case anyone was wondering why Frank Pentangeli is trending today, please watch The Godfather: Part II. Was Roger Stone involved with Donald Trump's father in the olive oil business a long time ago?
Am I the only one who is wondering if Amazon should have chosen a better hashtag than
#amazonshitcarshow
to promote The Grand Tour on Prime Video? Who at $AMZN approved this and didn't see the excrement right in the middle? There are no apostrophes in hashtags!
Homeward bound! Getting discharged from hospital. Thanks for all the kind thoughts/well wishes. Need to recover for a bit but hope to be able to start working again in a few weeks. Ciao!
Is the amazing run in Tesla pre-split another sign that a big bubble is about to burst? Not sure. But I see what's going on with $TSLA and it's eerily reminiscent of $QCOM splitting and tech stock mania just before March 2000.
My dad's birthday is today. Would have been 74. (Died in 2014.) Not sure how he would have dealt with the coronavirus. He hung out a lot in bars & was a big follower of sports. He'd be tremendously bored! I miss him. Wish my sons had been able to spend more time with him. Sigh.
Best news of my day? My mom, who turns 75 later this year, said she'll be getting first round of Covid-19 vaccine later this month. Huge sigh of relief.
$GOOGL now up 4% after hours. It's nice to have $117.2 billion in cash on the balance sheet. Also, check out the growth at YouTube. Ad sales up more than 33% to over $4 billion.
Past two months of jobs gains were better than initially reported. August payroll increases revised higher by 51K. September jobs gains 44K more than originally thought.
Vimeo is about to join the list of Baby Barrys -- companies spun off by Diller's IAC. I spoke to CEO
@anjsud
about the upcoming listing. We met in 2019 too and she predicted this day might eventually come. $IAC $VMEO