Author: openjargon

  • Biden and Trump’s first 2024 debate will be different than any other in recent memory

    Joe Biden and Donald Trump
    Former President Donald Trump and President Joe Biden will square off in a historically early debate that will be different from all face-offs in recent memory.

    • Joe Biden and Donald Trump will debate Thursday night.
    • Their face-off is the earliest major debate on record.
    • There are other notable changes, including commercial breaks and no studio audience. 

    President Joe Biden and former President Donald Trump are set to face off Thursday night in the earliest major presidential debate on record.

    Both men enter their first faceoff of 2024 locked into a race that remains too close to call nationally. According to Real Clear Politics' polling averages, Trump holds narrow leads in key swing states that could decide the race.

    In an era where Americans watch few live events besides football, the evening offers both campaigns a chance to get their message in front of millions.

    Here are the vital facts you need to know before Thursday night's debate.

    When is it and how can I watch it?

    The first presidential debate of the 2024 election will be Thursday, June 27 at 9 p.m. ET. CNN will host the debate, but all major broadcast and cable networks will offer simulcasts. You can also stream the debate through Max. If you can't access the debate any of those ways, CNN is also streaming it through its website here. You don't even need a cable login.

    The debate will last 90 minutes.

    Donald Trump looks at Joe Biden during the final 2020 presidential debate
    Then-President Donald Trump eyes former Vice President Joe Biden during the final debate of the 2020 election.

    How is this debate different?

    Beyond taking place in the summer, this debate will differ from any other recent memory. Instead of a live audience, Trump and Biden will square off at CNN's studios in Atlanta. There will be moderators, but both campaigns effectively killed off the bipartisan organization that has hosted debates for years. So, CNN chose anchors Jake Tapper and Dana Bash.

    At Biden team's urging, CNN has also pledged to mute the mic of the candidate who is not speaking. You might recall that in 2020, Biden asked then-President Trump, "Will you shut up man?" during their raucous first debate. The first debate was considered by just about everyone involved to be an abject disaster.

    Trump is set to get the last word this time since Biden elected to choose his podium position after winning a coin toss. As a result, Trump will be the last to deliver a closing statement. There will be no opening statements.

    Wait, there are going to be commercials?

    Yes, there will also be two commercial breaks. This, too, is a major departure from traditional debates.

    What about fact-checking?

    CNN correspondent Daniel Dale rose to fame fact-checking Trump, but don't expect him, Tapper, or Bash to chime during the debate. David Chalian, CNN's political director, told The New York Times that the debate "is not the ideal arena for live fact-checking." The fact-checking will have to wait until after the debate finishes.

    Independent presidential candidate Robert F. Kennedy Jr.
    Independent presidential candidate Robert F. Kennedy Jr. did not qualify for the debate.

    What's Robert F. Kennedy Jr. going to be doing?

    It's not entirely clear yet. We know he won't be joining the two presidents on the stage. CNN confirmed that Kennedy failed to reach their twin thresholds of 15% in four selected national polls and qualifying for the requisite number of ballots in each state. Billionaire attorney and philanthropist Nicole Shanahan, Kennedy's running mate, has promised "a few surprises" with their own live broadcast.

    https://platform.twitter.com/widgets.js

    Kennedy's campaign is in a critical moment. He previously announced that he raised less money in May than in any month this year, mainly due to Shanahan's decision to tap into less of her fortune. The noted vaccine skeptic is also in the thick of trying to qualify for the ballot in all 50 states.

    A third-party presidential hopeful hasn't made a debate stage since 1992, so Kennedy's failure is far from unprecedented.

    How is Trump approaching the debate?

    After years of suggesting Biden is too feeble to do the job, Trump has been slightly complementary of the man who beat him in the 2020 election.

    https://platform.twitter.com/widgets.js

    Republicans seem to recognize that setting the bar for Biden's performance at practically not dying on the stage is, uh, a low bar. So, instead, Trump is engaged in the very traditional game of trying to shape the media narrative before the showdown begins.

    What about Biden?

    Biden has spent days prepping for the debate at Camp David, the presidential retreat. History shows that incumbent presidents typically struggle in the first debate, a fact both President Obama and Trump can attest to. Biden's lawyer, Bob Bauer, is expected to reprise his role of playing the former president in mock debates. Former White House chief of staff Ron Klain, who has prepped Democrats for general election debates for decades, is taking time off from his new perch at AirBnb to help as well.

    What topics can we expect?

    Only Tapper, Bash, and a few select people at CNN know the exact questions. That being said, a few issues seem almost guaranteed to come up. Polls show that Americans have deep concerns about Biden's age. Some national polls have also showed support for Trump dropping slightly in the wake of him becoming the first former president to be convicted of a felony. Tapper has also grilled Republicans, who, like Trump, continue to try to raise doubts about the 2020 election. The former president never directly conceded the race.

    Trump's comeback campaign is also surging due to views about the US economy. Traditional metrics show Biden has much to be proud of, but while inflation has cooled, voters are still angry about high prices. Voters are also deeply skeptical of Biden's immigration policies, one of the biggest areas of disagreement between the two hopefuls.

    Wasn't it possible there would be no debates?

    Yes, that was a very real possibility. In 2022, The Republican National Committee formally withdrew from the Commission on Presidential Debates after years of tensions with the organization that has organized general election debates since 1988. It became an open question of how debates would move forward this time.

    Trump, who easily dispatched his primary opponents, began goading Biden to debate him anyplace and anytime. In late April, Biden told radio host Howard Stern he would debate Trump. Weeks later, Biden's campaign delivered the final blow to the commission, confirming that Biden would not participate in any of its scheduled debates. The president's team said the debates had become too unruly and were scheduled too late in the calendar.

    https://platform.twitter.com/widgets.js

    Trump and Biden then quickly agreed on the CNN debate and another contest in September, operating without any help from the commission. For now, the pair hasn't agreed to a third debate. Traditionally, the commission held two formal debates and one town-hall-style debate.

    What's next after the debate?

    Both sides are set to campaign on Friday. Biden will be in North Carolina. Trump will be in Virginia, a state that hasn't gone for the GOP in a presidential election since 2004. Trump is optimistic he can expand the list of potential swing states.

    At least one more debate is on the calendar; ABC News will host a September 10 debate. Vice President Kamala Harris and Trump's yet-to-be-named running mate are also expected to debate. As of now, they haven't settled on one network to host that debate.

    Read the original article on Business Insider
  • Here are the top 10 ASX 200 shares today

    Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.

    The S&P/ASX 200 Index (ASX: XJO) endured another day in the red this Thursday, making it a fairly depressing week for ASX shares thus far.

    By the time the markets closed today, the ASX 200 had been walked back by 0.3%, leaving the index at 7,759.6 points.

    This miserly showing from ASX shares comes after a more bullish night of trading over on the US markets last night.

    The Dow Jones Industrial Average Index (DJX: .DJI) had a decent day, recovering from an early drop to post a gain of 0.04%.

    The Nasdaq Composite Index (NASDAQ: .IXIC) did decidedly better though, lifting by a confident 0.49%.

    But time now to get back to the local markets and take a look at what the various ASX sectors were up to today.

    Winners and losers

    Despite the drop of the broader market, we still saw quite a few ASX sectors record a rise this Thursday.

    But first, to the losers.

    The worst place to have had money in this session was in real estate investment trusts (REITs). The S&P/ASX 200 A-REIT Index (ASX: XPJ) had a horrible time of it today, tanking by 2.26%.

    Utilities shares were also on the nose, but the S&P/ASX 200 Utilities Index (ASX: XUJ)’s loss of 0.79% looked tame by comparison.

    Industrial stocks were next. The S&P/ASX 200 Industrials Index (ASX: XNJ) plunged at open, but managed to recover slightly to post a 0.67% retreat by the closing bell.

    ASX financial shares also had a rough trot, with the S&P/ASX 200 Financials Index (ASX: XFJ) losing 0.5% of its value.

    Communications stocks were another sore point. The S&P/ASX 200 Communication Services Index (ASX: XTJ) was sent 0.18% lower by investors.

    Consumer staples shares did a little better, with the S&P/ASX 200 Consumer Staples Index (ASX: XSJ) sliding down 0.02%.

    Mining stocks were our final winners. The S&P/ASX 200 Materials Index (ASX: XMJ) also slipped by 0.02%.

    Turning now to the winners from today’s trading, these were led by tech shares. The S&P/ASX 200 Information Technology Index (ASX: XIJ) had another happy session, vaulting 0.74% higher.

    Gold stocks weren’t too far off that. The All Ordinaries Gold Index (ASX: XGD) saw its value rise by 0.66%.

    Healthcare shares had a pleasant time of it as well, illustrated by the S&P/ASX 200 Healthcare Index (ASX: XHJ)’s 0.35% lift.

    Consumer discretionary stocks were a little less enthusiastic, but the S&P/ASX 200 Consumer Discretionary Index (ASX: XDJ) still bounced 0.12% higher.

    Finally, energy shares counted themselves lucky. The S&P/ASX 200 Energy Index (ASX: XEJ) pulled off a 0.06% increase.

    Top 10 ASX 200 shares countdown

    Today’s index winner was energy stock Strike Energy Ltd (ASX: STX). Strike shares rose by a confident 6.38% today up to 25 cents apiece.

    This bullish move followed Strike releasing a flow test update for its Walyering gas field this morning, which investors obviously found uplifting.

    Here’s the rest of today’s top index stocks:

    ASX-listed company Share price Price change
    Strike Energy Ltd (ASX: STX) $0.25 6.38%
    ResMed Inc (ASX: RMD) $28.78 4.09%
    Arcadium Lithium plc (ASX: LTM) $5.18 3.81%
    West African Resources Ltd (ASX: WAF) $1.61 3.54%
    Star Entertainment Group Ltd (ASX: SGR) $0.48 3.23%
    Sims Ltd (ASX: SGM) $10.31 3.00%
    Capricorn Metals Ltd (ASX: CMM) $4.80 2.78%
    WiseTech Global Ltd (ASX: WTC) $98.34 2.48%
    Tabcorp Holdings Ltd (ASX: TAH) $0.695 2.21%
    BlueScope Steel Ltd (ASX: BSL) $20.32 2.01%

    Our top 10 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

    The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Bluescope Steel Limited right now?

    Before you buy Bluescope Steel Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Bluescope Steel Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed and WiseTech Global. The Motley Fool Australia has positions in and has recommended ResMed and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Releasing ChatGPT made OpenAI the poster company of the AI race. But winning it is proving really hard.

    OpenAI CEO Sam Altman.
    OpenAI CEO Sam Altman has had issues launching new ChatGPT features.

    • ChatGPT put OpenAI at the forefront of the drive to build human-like AI.
    • But the momentum of that hugely impactful launch has been tough to maintain.
    • The company has had PR setbacks and development snags.

    "Try talking with it here," Sam Altman wrote on X, linking to an "early demo" of ChatGPT.

    He gave some thoughts on "language interfaces" and how people would soon "talk to the computer" with voice or text to get what they want, "for increasingly complex definitions of want!"

    That thread marked what turned out to be one of the most impact launches in Silicon Valley history.

    ChatGPT' prompted a surge of interest in generative AI. Tech giants like Microsoft, Apple, Google, and Meta poured billions of dollars into the technology, and venture capitalists pumped even more into startups focusing on it.

    It made OpenAI the poster child of the race to create human-like artificial general intelligence, which has become Altman's stated mission.

    But getting there from the ChatGPT demo he debuted in November 2022 is a long road. Few would've mistaken the chatbot — with a tendency to hallucinate and get basic facts wrong — for a human. The company is struggling under the weight of expectations the initial launch created — and following up with launches as smooth and impactful is getting tougher.

    Meanwhile, rivals like Google, Meta, and smaller companies have tried to catch up by unveiling their own AI models, such as Gemini Ultra and Llama 3.

    OpenAI's new products have had issues

    On Tuesday, OpenAI said it was delaying a highly anticipated upgrade to its chatbot's "voice mode" feature, which had been due for imminent release.

    The existing voice feature, first introduced in September 2023, had suffered delays in responding to users' attempts to have a back-and-forth conversation and struggled to "directly observe tone," as well as multiple speakers and background noises, the company said.

    The upgrade was set to roll out to a small group of ChatGPT Plus users in late June until the company announced it needed to work on "the model's ability to detect and refuse certain content" and to prepare "infrastructure to scale to millions while maintaining real-time responses."

    https://platform.twitter.com/widgets.js

    The hiccup came after OpenAI made headlines when Scarlett Johansson accused the company of touting a voice — "Sky" — that, she claimed, was "eerily similar" to hers.

    Though Altman later claimed it "was never intended to resemble" Johansson's, the company decided to pause using the voice.

    The voice feature isn't the only one having a hard time.

    OpenAI still has no release date for Sora, the model that generates videos based on users' text prompts and was first demonstrated publicly in February. In May, Google boss Sundar Pichai said OpenAI's training of Sora may have violated YouTube's terms and conditions.

    Open AI released GPT-4o, its most advanced multimodal AI model and the successor to GPT-4, in May but rival AI lab Anthropic showed data on Claude 3.5 Sonnet, which it released last week, that suggest its model beats GPT-4o on "graduate-level reasoning," "code," and "reasoning over text" benchmarks.

    claude by anthropic
    Anthropic's new model outperforms OpenAI's GPT-4o.

    According to Chatbot Arena, a widely followed performance table, Claude 3.5 Sonnet beat GPT-4o in coding. GPT-4o maintains the overall top spot on the table but only by a narrow margin.

    This month did give OpenAI something to celebrate; Apple announced that it was partnering with the company to bring ChatGPT to iPhones, iPads, and Macs. This gives OpenAI access to Apple's huge install base of more than 2 billion active devices.

    But OpenAI isn't getting paid for the integration, and Apple didn't guarantee exclusivity, as it has signaled it's open to partnering with other companies on AI.

    ChatGPT gave OpenAI a headstart in the race to make AGI. But in a race that long, anyone could win.

    Read the original article on Business Insider
  • Another Boeing whistleblower has come forward with shocking allegations that he saw ‘substandard manufacturing’ and holes being drilled incorrectly on 787 planes

    Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023.
    Boeing 787 Dreamliners are built at the aviation company's North Charleston, South Carolina, assembly plant on May 30, 2023.

    • Another whistleblower has come forward with complaints of Boeing's safety lapses.
    • Richard Cuevas said that he saw holes drilled improperly, which could lead to "catastrophe."
    • The airplane mechanic said he was fired from his job shortly after raising concerns. 

    Another Boeing whistleblower has come forward, saying that he witnessed 787 Dreamliner planes being built in a manner that could lead to a "catastrophe down the line."

    Richard Cuevas was a Strom airplane mechanic who used to work as a contractor for Boeing and Spirit AeroSystems. He said that in 2023, he witnessed substandard manufacturing of the 787 planes' forward pressure bulkheads, which help maintain air pressure.

    In a complaint filed by his lawyers on Tuesday to the Federal Aviation Administration, Cuevas said Spirit AeroSystems workers were drilling holes into the fasteners of the plane's forward pressure bulkhead, which were bigger than what Boeing had specified.

    They did this to "clear excess paint from the holes and speed up a slow process," per the complaint. Cuevas said that the faults could lead to a loss of air pressure in the flight and run the risk of power failure.

    However, in March, a few months after he reported his findings to Boeing and Spirit AeroSystems, he was fired from his job, the complaint said.

    In a statement to CNN, Boeing said it had investigated Cuevas' concerns and determined that they were not safety threats.

    "A subcontractor's employee previously reported concerns to us that we thoroughly investigated as we take seriously any safety-related matter," the company said to CNN. "Engineering analysis determined that the issues raised did not present a safety concern and were addressed."

    Latest in a long list of Boeing whistleblowers

    Cuevas is the latest whistleblower to allege that the aircraft manufacturer has been lax with safety and quality control.

    A sprawling 204-page report by the Senate subcommittee investigating Boeing's safety and quality practices, released on June 17, cited accounts from numerous other whistleblowers.

    These include Sam Mohawk, a quality assurance inspector for Boeing, who alleged that the company lost track of hundreds of faulty 737 parts and ordered staff to conceal improperly stored plane parts so that FAA inspectors would not see them.

    Merle Meyers, a former Boeing quality manager, said that Boeing's manufacturing team regularly tried to retrieve bad parts from a "reclamation" area even after they were thrown out.

    John Barnett, a Boeing manager turned whistleblower, said that safety procedures were ignored in the interest of speed and efficiency in building the planes.

    Just days before he was supposed to give a deposition, Barnett was found dead from a"self-inflicted gunshot wound," the Charleston County coroner's office told BI's Matthew Loh. No further details were provided.

    Boeing's troubles

    Boeing planes have been plagued by technical issues in recent months.

    On Saturday, a Korean Air 737 Max 8 flight bound for Taiwan had to turn back and make an emergency landing after detecting a fault with the aircraft's pressurization system.

    Earlier in March, a United Airlines Boeing 777 taking off from San Francisco International Airport lost a tire just after takeoff, which crushed a car in the airport parking lot.

    Most prominently, in January, a door plug came off a Boeing 737 Max 9 Alaska Airlines jet at 16,000 feet, resulting in a gaping hole in the plane.

    Cuevas' lawyers and representatives of Boeing and Spirit AeroSystems didn't immediately respond to a request for comment from Business Insider, made outside regular working hours.

    Read the original article on Business Insider
  • ASX 200 stock rallies as monopoly remains intact

    A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.

    Real estate shares were in the doldrums today. The property-centric sector dropped 2%, with some ASX 200 property stocks carving more than 5% off their share price amid fears of another interest rate increase.

    But there was a glimmer of green among the many downtrodden property shares: PEXA Group Ltd (ASX: PXA). Shares in the electronic property conveyancing platform lifted 2% to $13.90. Although such a move wouldn’t normally be worth celebrating, it’s notable given the day’s bleak backdrop.

    The viridescent glow of PEXA coincides with the company’s return from yesterday’s trading halt and a fresh announcement.

    Hitting pause on interoperability

    This morning, PEXA acknowledged a statement released by the Australian Registrars National Electronic Conveyancing Council (ARNECC). In this release, the ARNECC revealed it was halting work on its interoperability program, with its project team being stood down.

    ARNECC’s interoperability program has been in development for around three years. In short, the program was an initiative to enable a more competitive industry for electronic conveyancing by making communication between all electronic lodgement network operators (ELNOs) and banks possible.

    The pause in interoperability efforts was attributed to issues outside the reach of the government body, stating:

    State and Territory Ministers also noted recent issues that have been raised by the banking industry in relation to the Interoperability Program, and that some of these are beyond the remit of States and Territories to address effectively.

    Still, the ARNECC reiterated the desire for more competition and its benefits. However, it conceded that ‘significant challenges’ stand in the way of making further progress. As such, the body has called upon the Commonwealth Government and regulators to assist.

    Meanwhile, PEXA said, “We continue to participate constructively with our regulators and industry participants to support and evolve an ecosystem that operates in the best interests of Australian home and property owners.”

    What about the competitor to this ASX 200 stock?

    Sydney-based Sympli is trying to break the Australian e-settlement monopoly. Hence, the startup would be a major beneficiary in a more open and interoperable digital conveyancing market.

    So, it comes as no surprise the competitor had a few remarks of its own today.

    Sympli responded to the ARNECC release by saying:

    Sympli confirms that we are, and have always been, committed to ensuring our bank processes are supported in interoperability, but we remain extremely disappointed that this same commitment does not appear to be shared by the industry incumbent. Unfounded claims of intellectual property rights over what have been decades-established industry practices are blocking the finalisation of data standards required to deliver the reform – this must be stopped.

    The company is calling on further work to make interoperability possible.

    PEXA Group, the ASX 200 stock, is up 5.06% over the past year.

    The post ASX 200 stock rallies as monopoly remains intact appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Pexa Group right now?

    Before you buy Pexa Group shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pexa Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended PEXA Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Biz leaders could learn a thing or 2 from the way Ayo Edibiri directed her very first episode of ‘The Bear’

    Ayo Edebiri  at The Bear launch waving hello
    Ayo Edibiri, one of the stars of the hit show "The Bear."

    • Ayo Edibiri directed episode six on season three of "The Bear." 
    • The actor said she tried her best to stay in a good mood and "talk decently to people" on set.
    • Studies show that employees want to feel valued and appreciated at work.

    Ayo Edebiri stepped into the director's chair for an episode on season three of "The Bear," and she says her focus was on bringing positive energy to the set.

    "I tried my best to just be in a good mood, try to talk decently to people, because that I think can do a lot for how the workday flows," Edebiri told The Hollywood Reporter on Tuesday.

    Edebiri has won an Emmy, Golden Globe, and Critics Choice Award for her role as chef Sydney Adamu on "The Bear," where she acts alongside Jeremy Allen White.

    In an interview with Variety in December, White, who plays chef Carmen "Carmy" Berzatto, explained that since the focus of the second season was on transforming The Original Beef of Chicagoland into an upscale restaurant named The Bear, there was less cooking on set.

    "But now, in the third season, I think we're going to go back to that functioning kitchen atmosphere that we had in the first," he said.

    Edebiri, a comedian, writer, producer, actor, and now director, said she turned to the show's creator Christopher Storer for inspiration while directing the episode. "Energy kind of goes from top down," she said, per The Hollywood Reporter.

    And it's not just actors who need positive energy. Employees also want to feel valued and appreciated at work.

    A 2021 study by the global management-consulting firm McKinsey found that one of the top reasons people quit their jobs is because they don't feel valued by their company or their manager.

    "CEOs need to invest more time, energy, and resources into developing their culture, into developing their employees," Jasmine Hill, the CEO of Radiant Slate Consulting, told Business Insider.

    Being pleasant to people at work has benefits at home, too. According to research published in the Journal of Applied Psychology in 2018, behaving well at work can even help you sleep better.

    Read the original article on Business Insider
  • General Mills will push out ‘cheesier’ mac and cheese and ‘fudgier’ brownies to win back shoppers

    Betty Crocker brownie mixes at a grocery store.
    General Mills' CEO said the company is working on making Betty Crocker brownies fudgier to boost sales.

    • General Mills will boost product flavors to attract price-conscious customers amid inflation.
    • The company said it expects little sales growth in the next year.
    • General Mills' shares were down 4.6% at closing on Wednesday after it reported earnings.

    General Mills is turning up the flavor to attract price-conscious customers.

    The snack and cereal maker said it will improve the taste of some of its biggest products to boost sales as inflation continues to hit consumers.

    "In tough economic times, consumers can't afford to waste, so they're looking for great-tasting products they know their family will eat," CEO Jeff Harmening said on an earnings call on Wednesday.

    "Pillsbury biscuits will be flakier, Annie's mac and cheese will be cheesier, and Betty Crocker fudge brownies will be fudgier," Harmening said.

    Sales growth for the year ending May 25 fell 1%. General Mills predicted sales growth for the next fiscal year to be between zero and 1%, below what investors expected.

    General Mills' shares were down 4.6% at closing on Wednesday after the company reported earnings.

    Americans are feeling the burden of rising prices at grocery stores and food items in general. They're buying fewer things in supermarkets and at fast-food restaurants alike, CEOs in both industries have said in recent months.

    Along with higher-flavor iterations, General Mills' CEO said that the company will also introduce value or bulk packs on some products and will spend more on coupons — over 20% more in the next six months.

    As part of its attempt to remain top-of-mind, General Mills is working with NFL stars Travis and Jason Kelce and comedian-actor Pete Davidson. The company is also sponsoring Canadian, British, and Australian athletes in the upcoming Olympics.

    General Mills is not the only company that is being forced to get creative.

    Earlier this year, rival breakfast giant Kellogg's faced backlash for encouraging cash-strapped shoppers to eat cereal for dinner. Some people noted that even if they were trying to save on groceries, they would not opt for relatively expensive name brands like Kellogg's.

    Read the original article on Business Insider
  • Guess which small cap ASX stock could rise 45%

    A woman's hair is blown back and her face is in shock at this big news.

    Do you have a higher than average tolerance for risk? If you do, then it could be worth checking out the small cap ASX stock in this article.

    That’s because analysts at Bell Potter have just initiated coverage on its shares with a buy rating and are tipping huge returns.

    Which small cap ASX stock?

    The small cap that Bell Potter has named as a buy is Biome Australia Ltd (ASX: BIO).

    It develops, licenses, commercialises and markets innovative, evidence-based live biotherapeutics (probiotics) and complementary medicines. The company notes that many of these are supported by clinical research.

    At the last count, Biome Australia was marketing 18 products under the Activated Probiotics brand.

    According to the note, Bell Potter believes the small cap ASX stock is well-placed to grow materially in the coming years. It commented:

    We have strong conviction in the potential of BIO to grow into a material business through a combination of: 1) differentiation through condition-specific probiotic strains / formulations; 2) more efficient delivery system through microencapsulation and blister packaging; 3) a training and education focused sales model that builds trust, deep customer relationships and brand value; 4) clinical evidence based products that drives credibility and opens up significant potential for co-prescribing of medications; and 5) international expansion to replicate the Australian model.

    Bell Potter is expecting this to underpin revenue of $12.7 million in FY 2024, $18,9 million in FY 2025, and then $26.6 million in FY 2026.

    As for earnings, a net loss of $2.4 million is expected this year, then profits of $0.3 million in FY 2025 and $3.2 million in FY 2026.

    Big returns

    Bell Potter has initiated coverage on the small cap ASX stock with a buy rating and 73 cents price target.

    Based on its current share price of 50.5 cents, this implies potential upside of approximately 45% for investors over the next 12 months.

    Its analysts think that investors should snap up its shares and gain exposure to “BIO’s exciting growth phase.” The broker concludes:

    We initiate coverage of BIO with a BUY recommendation and Target Price of $0.73 / sh. BIO provides rare exposure to the global probiotics market that leverages off the theme of preventative health. Investors can gain exposure during BIO’s exciting growth phase as the business moves through breakeven into profitability and positive cash flow. Expansion into the UK and Canada should also drive material improvement in performance.

    The post Guess which small cap ASX stock could rise 45% appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Biome Australia Limited right now?

    Before you buy Biome Australia Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Biome Australia Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 24 June 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Here are 3 ASX retirement shares to buy in July

    Two people smiling at each other while running.

    When you first start out investing, you can invest in fledgling growth stocks and small caps.

    That’s because if things don’t go quite to plan, you have plenty of time to recoup your losses.

    However, if you’re already in retirement, you cannot really afford to lose money. As a result, it’s arguably best to look beyond growth stocks and focus more on capital preservation and income.

    But which ASX retirement shares could be worth considering? Let’s take a look at three that could be top options:

    APA Group (ASX: APA)

    It’s always good to have defensive shares in your retirement portfolio. Especially those that are able to pay sustainable dividends.

    APA Group certainly ticks these boxes. This energy infrastructure company has a long track record of dividend growth. In fact, it is currently on course to increase its dividend for 20 years in a row.

    Analysts at Macquarie expect the company to deliver on this. The broker is forecasting dividends of 56 cents per share in FY 2024 and then 57.5 cents per share in FY 2025. Based on the current APA Group share price of $7.95, this equates to 7% and 7.2% dividend yields, respectively.

    Macquarie also sees plenty of upside for investors. It has an outperform rating and $9.40 price target on its shares.

    Coles Group Ltd (ASX: COL)

    Supermarkets are another generator of defensive earnings. As they provide daily essentials, consumers are forced to fill their trolleys each week no matter how much they raise their prices.

    Morgans is very positive on the company’s outlook and believes its growth will resume in FY 2025 after a tricky time in FY 2024.

    It is expecting this to lead to Coles paying fully franked dividends of 66 cents per share in FY 2024 and then 69 cents per share in FY 2025. Based on the current Coles share price of $17.10, this implies dividend yields of 3.85% and 4%, respectively.

    Morgans has an add rating and $18.95 price target on its shares.

    Telstra Group Ltd (ASX: TLS)

    There are few industries that are more defensive that the telecommunications industry. After all, mobile phones and internet are services that many of us could not go without.

    This could make Telstra a great ASX retirement share to buy. Especially given its leadership position in the market.

    Goldman Sachs thinks it would be a great option. Its analysts have even highlighted its “low risk earnings (and dividend) growth” as a reason to buy. In addition, the broker is expecting some attractive dividend yields.

    It is forecasting fully franked dividends per share of 18 cents in FY 2024 and then 18.5 cents in FY 2025. Based on the current Telstra share price of $3.59, this will mean yields of 5% and 5.15%, respectively.

    Goldman has a buy rating and $4.25 price target on its shares.

    The post Here are 3 ASX retirement shares to buy in July appeared first on The Motley Fool Australia.

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    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group, Coles Group, Macquarie Group, and Telstra Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • The iShares S&P 500 ETF (IVV) is slowly becoming a dividend powerhouse. Here’s why

    The letters ETF in a trolley with money.

    ASX investors might want to buy the iShares S&P 500 ETF (ASX: IVV) for their stock portfolios for a number of reasons. It could be to gain exposure to a portfolio of stocks from outside Australia. It could be to add some of the best companies in the world to one’s investing strategy.

    But whatever the reason ASX investors might want to buy this exchange-traded fund (ETF), it’s likely that receiving dividend income isn’t high on the list.

    Unlike ASX shares, American stocks aren’t known for their dividends. Traditionally, if an investor picks up an ASX index fund, they can expect to receive a dividend yield of around 3%-5% from their investment, depending on where we are in the market cycle. Thanks to dividend heavyweights like Westpac Banking Corp (ASX: WBC) and BHP Group Ltd (ASX: BHP) amongst their top holdings, ASX index funds are usually generous when it comes to income.

    But the same isn’t usually said about American shares. Thanks to a different tax system, as well as the general makeup of the US markets, American stocks have never prioritised paying out dividends to the same extent as their Australian counterparts. So while it’s normal to get a 3%-5% yield from an ASX index fund, a US index fund is far more likely to get you a dividend yield of between 1% and 2%.

    We can see this playing out today. Right now, the iShares S&P 500 ETF is trading on a trailing dividend distribution yield of 1.21%. That comes from this ETF’s last four quarterly dividend distribution payments, which add up to an annual total of 66.19 cents per unit.

    But despite this, I’m starting to think that the iShares S&P 500 is slowly morphing into a dividend powerhouse.

    Why? Well, because its top holdings, which were previously (and conspicuously) not dividend payers, are slowly changing course.

    Big dividend changes for ASX investors in the IVV ETF

    Right now, the ten largest shares in the iShares S&P 500 ETF are as follows:

    1. Microsoft Corporation (NASDAQ: MSFT)
    2. NVIDIA Corporation (NASDAQ: NVDA)
    3. Apple Inc (NASDAQ: AAPL)
    4. Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL)
    5. Amazon.com Inc (NASDAQ: AMZN)
    6. Meta Platforms Inc (NASDAQ: META)
    7. Berkshire Hathaway Inc (NYSE: BRK.A)(NYSE: BRK.B)
    8. Eli Lilly and Co (NYSE: LLY)
    9. Broadcom Inc (NASDAQ: AVGO)
    10. JPMorgan Chase & Co (NYSE: JPM)

    Of these ten companies, none except JPMorgan currently offer a dividend yield of over 2%. And four don’t even pay a dividend. Well, at least until 2024.

    This year, both Meta Platforms and Alphabet announced that they would be breaking with a long tradition of not paying a dividend by initiating a maiden shareholder payment. That leaves only Berkshire Hathaway and Amazon as the last holdouts in this top ten.

    Sure, most of these stocks don’t have impressive upfront yields. But consider this: Microsoft has been growing its dividend by a compounded annual growth rate of 10.23% per annum over the past five years. For Nvidia, it’s 6.91%, and in Broadcom’s case, 15.97%.

    Now that Meta and Alphabet have finally started paying out dividends, it’s highly likely that these companies will also grow their payouts at a high rate in the years ahead, thanks to the mountains of cash these companies generate.

    As such, I am seeing more dividend income potential for an IVV investment on the ASX today than at any other time in recent history.

    It might have a low yield right now. But I think there’s a great chance that anyone who buys this ASX ETF today will be bagging a lot more income down the road.

    The post The iShares S&P 500 ETF (IVV) is slowly becoming a dividend powerhouse. Here’s why appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Ishares S&p 500 Etf right now?

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    Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Alphabet, Amazon, Apple, Berkshire Hathaway, Meta Platforms, and Microsoft. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, JPMorgan Chase, Meta Platforms, Microsoft, Nvidia, and iShares S&P 500 ETF. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Broadcom. The Motley Fool Australia has recommended Alphabet, Amazon, Apple, Berkshire Hathaway, Meta Platforms, Microsoft, Nvidia, and iShares S&P 500 ETF. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.