Amazon is warning its over 300 million customers to watch out for cybercriminals who are out in force this holiday season impersonating reps from the e-commerce giant — as the FBI said online crooks have stolen nearly $300 million by taking over victims’ accounts so far this year.The largest online retailer in the world recently emailed customers about criminals trying to “get access to sensitive information like personal or financial information or Amazon account details,” according to Forbes. The warning ...

Core Viewpoint - New York City's outgoing Comptroller Brad Lander is urging the city's top pension funds to sever ties with BlackRock due to allegations that the firm is not adequately addressing climate change concerns [1][3]. Group 1: Allegations Against BlackRock - Lander accused BlackRock of scaling back its climate engagement, which he claims puts investments at unnecessary risk [3]. - He criticized the firm for allegedly succumbing to pressure from the White House and Republicans, leading to a reversal on green investments [1][11]. - BlackRock's recent withdrawal from the United Nations-backed Net Zero Asset Managers Initiative is highlighted as a significant shift in its climate commitments [13]. Group 2: Pension Funds and Investment Management - Lander has specifically called on the New York City Employees' Retirement System, Teachers' Retirement System, and Board of Education Retirement System to consider moving their investments to firms with a stronger commitment to combating climate change [3][8]. - BlackRock manages approximately $42.3 billion in retirement funds for city workers, indicating its significant role in the city's pension system [8]. - The total assets under management by BlackRock globally reached a record $13.46 trillion as of September 30, 2023, reflecting its substantial market presence [10]. Group 3: Political Context - Lander's comments come as he prepares to leave office, with socialist Mayor-elect Zohran Mamdani set to influence the city's pension system starting January 1 [8][14]. - The political landscape is shifting, with Mamdani's administration expected to pursue an aggressive agenda that may impact investment strategies [14].

Economic Overview - Wall Street's main indexes rose for a fourth consecutive session, with the Dow Jones Industrial Average increasing by 416 points (0.9%) to 47,528, and both the Nasdaq and S&P 500 gaining 0.9% [1] - Mixed economic data was released, showing jobless claims fell to 216,000, below expectations of 225,000, while new orders for capital goods surged in September [2] Federal Reserve Insights - The economy is not slipping into recession, but it is weak enough to allow for another interest rate cut by the Federal Reserve, as there remains a high number of unemployed individuals [3] - Traders are pricing in an 84.9% chance of a 25-basis-point rate cut next month, nearly double the odds from the previous week, influenced by softer consumer demand signals and dovish remarks from Fed officials [4] Company Performance - Dell's stock rose by 2.3% after its quarterly forecasts surpassed expectations, driven by strong demand for servers in AI data centers, contributing to the S&P 500 and Nasdaq reaching two-week highs [5] - HP's stock fell by 2.3% following the announcement of disappointing profit forecasts and job cut plans [8] Retail Sector Outlook - The upcoming holiday shopping period is crucial for big-box retailers, with expectations of holiday sales surpassing $1 trillion for the first time, despite mixed results from retailers like Walmart and Target [7][8] - The trading volumes are expected to thin out during the holiday period, which could lead to sharper price swings [7]

Core Insights - HP plans to cut between 4,000 and 6,000 jobs globally by fiscal 2028 to streamline operations and enhance productivity through artificial intelligence [1][2] - The job cuts will affect teams focused on product development, internal operations, and customer support, representing up to 10% of its workforce [2] - The company anticipates $1 billion in gross run rate savings over three years from this initiative [4] Financial Performance - HP's revenue for the fourth quarter was $14.64 billion, surpassing estimates of $14.48 billion [11] - The company expects adjusted profit per share for fiscal 2026 to be between $2.90 and $3.20, which is below analysts' average estimate of $3.33 [9] - For the first quarter, HP expects adjusted profit per share between 73 cents and 81 cents, with the midpoint below estimates of 79 cents [11] Market Trends - Demand for AI-enabled PCs has increased, accounting for over 30% of HP's shipments in the fourth quarter ended October 31 [5][8] - A surge in global memory chip prices due to rising demand from data centers may increase costs and pressure profits for HP and other consumer electronics makers [5][6] - HP is taking measures to mitigate cost increases by qualifying lower-cost suppliers and reducing memory configurations [9]

Core Viewpoint - Netflix is actively pursuing Warner Bros. Discovery (WBD) by engaging in lobbying efforts to alleviate antitrust concerns, positioning itself as a serious contender in the bidding process for WBD's streaming service and studio [1][2][9]. Group 1: Bidding Dynamics - The bidding war for WBD is intensifying, with a second round of bids expected soon, allowing participants to increase their offers or withdraw [3]. - Paramount Skydance has submitted a bid of approximately $25 per share, totaling around $60 billion for WBD, which includes the Warner Bros. studio and HBO Max streaming service [5]. - Comcast has also made a bid for WBD, while Netflix has emerged as a dark horse in the competition due to its historical reluctance towards large acquisitions and existing antitrust issues [6][10]. Group 2: Antitrust Considerations - Netflix's lobbying efforts led by CEO Ted Sarandos are reportedly diminishing Paramount Skydance's perceived advantage in the auction, particularly regarding antitrust concerns [2][7]. - Legal arguments presented by Netflix suggest that traditional antitrust laws may not apply to streaming services due to the abundance of content available on platforms like YouTube and social media [8][9]. - WBD's board is increasingly doubtful that Netflix will encounter significant antitrust challenges in its bid for HBO Max and its studio, countering arguments made by Paramount Skydance's legal team [9][12]. Group 3: Strategic Appeal - Netflix's interest in acquiring only the studio and streaming service aligns with WBD's strategy to maximize value by separating these assets from its traditional cable properties [17]. - The potential acquisition is seen as appealing to WBD's board, especially in light of the company's plans to split into two entities [17]. Group 4: Market Reactions - Netflix's stock has experienced a nearly 10% decline over the past month, reflecting investor concerns regarding its acquisition strategy [20][21].

Core Viewpoint - H&M is closing two large stores in Manhattan as part of a global cost-cutting strategy, which will add significant retail space to the market in New York City [1][2]. Group 1: Store Closures - H&M will close its stores located at 18 Church St. at the World Trade Center and 150 E. 86th St. in January, resulting in a total of 55,000 square feet of retail space becoming available [1][3]. - After these closures, H&M will retain eight locations in New York City [2]. Group 2: Global Strategy - The closures in Manhattan are part of H&M's broader plan to shut down approximately 200 of its more than 4,300 stores worldwide as a measure to reduce costs [2].

Core Insights - Inflation is significantly impacting US incomes, comparable to the 2008 Great Recession, which may reduce consumer spending power ahead of the holiday shopping season [1] - The median income growth for individuals aged 25 to 54 is only 1.6% when adjusted for inflation, indicating weak income growth [1][10] - The unemployment rate increased to 4.4% in September, the highest since October 2021, affecting income gains for young workers [6][13] Income and Spending Trends - Households are ending the year with stagnant income growth and flat bank balances after adjusting for inflation [2] - Approximately half of workers aged 50 to 54 have experienced an earnings loss when accounting for inflation [8] - Consumers are facing a holiday season with limited budgets due to low income growth, despite strong stock market gains that are unevenly distributed [11] Inflation and Economic Indicators - US inflation rose by 3% year-on-year in September, the fastest rate since January, while wholesale inflation increased by only 0.3% [12][14] - Retail sales saw a nominal increase of 0.2% in September, but actual spending fell by 0.1% due to a 0.3% rise in prices [12] - Consumer confidence dropped to 88.7 in November, the lowest since April, with a significant decline in perceptions of business conditions and job availability [14]

Core Insights - American Eagle's shares increased by approximately 3% following the announcement of Martha Stewart as the new face of the brand, succeeding the controversial campaign featuring Sydney Sweeney [1][2] - The new "Give Great Jeans Campaign" features Stewart in a full denim outfit, aimed at capturing attention during the holiday shopping season [1][3] Marketing Strategy - American Eagle has adopted bold marketing strategies, as highlighted by the choice of Martha Stewart, which aligns with the brand's current direction [2] - The previous campaign featuring Sydney Sweeney faced criticism for its wordplay, which some found inappropriate, indicating the brand's willingness to take risks in its marketing approach [2][6] Brand Image and Target Audience - Martha Stewart's persona is seen as resonating with a younger audience, showcasing her ability to remain relevant despite her age [4] - Stewart's diverse promotional history, including products like CBD gummies and collaborations with celebrities, reinforces her adaptability as a brand ambassador [5] Controversies and Challenges - American Eagle faced backlash from the previous campaign with Sydney Sweeney, which was accused of promoting eugenics, highlighting the potential risks associated with celebrity partnerships [6][7]

Core Insights - The potential successors to Tim Cook as CEO of Apple include four top executives, with John Ternus being the frontrunner [1][12] - Apple's board is reportedly enhancing its succession planning, with Cook possibly stepping down as soon as next year [9] - Cook has expressed a desire for the next CEO to come from within Apple and confirmed that there are "very detailed succession plans" in place [13] Group 1: Potential Successors - John Ternus, head of hardware division, oversees key products like the iPhone, Mac, and AirPods [1] - Craig Federighi, the software chief, is increasingly involved in AI integration following past missteps [2] - Eddy Cue, head of services, has a long history with Apple and close ties to both Cook and Steve Jobs [3] - Greg Joswiak, head of marketing, plays a significant role in iPhone promotions and managing PR challenges [4] Group 2: Tim Cook's Tenure and Future - Tim Cook has led Apple since 2011, overseeing its growth from a market valuation of approximately $350 billion to $4 trillion [12] - There is no mandatory retirement age for Apple's CEO, allowing Cook to remain in his position as long as he chooses [7] - Cook has indicated he enjoys his role and expects to continue leading Apple for the foreseeable future [13]

Core Insights - Meta is reportedly in discussions to spend billions on Google's tensor processing units (TPUs) for its data centers by 2027, which could significantly impact Nvidia's revenue [1][3] - The potential deal could result in Google capturing up to 10% of Nvidia's annual revenue, translating to billions for Google [3] - Nvidia's shares fell approximately 4% following the news of Meta's negotiations with Google [1][11] Company Developments - Meta is exploring the use of Google's TPUs not only for existing AI models but also for training new models, indicating a shift in its AI strategy [13][14] - Google has been actively marketing its TPUs as a cost-effective alternative to Nvidia's GPUs, aiming to attract major clients like Meta [8] - Google Cloud is experiencing increased demand for both its TPUs and Nvidia GPUs, showcasing a competitive landscape in the AI chip market [4] Competitive Landscape - Nvidia remains a dominant player in the AI sector with a market cap of $4.2 trillion, making it the most valuable company globally [9][13] - Analysts suggest that mastering inference chips is crucial for any competitor to challenge Nvidia's dominance in the AI space [14] - Google is making strides in its AI capabilities, recently releasing its large language model, Gemini 3, which has received positive feedback [10]