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In this articleVIACNHLICharles Barkley on Inside the NBASource: NBA on TNTThe National Hockey League needs crossover appeal, and with its new media rights partnership with Turner Sports, it’s the perfect time to add Charles Barkley to its coverage.The NHL and Turner’s parent company WarnerMedia agreed to a rights pact for more than $1 billion in April, under which Turner will air three Stanley Cups and the Winter Classic. Turner wasted no time adding to broadcasting talent, and on Wednesday, landed hockey legend Wayne Gretzky.The decision to add Gretzky is a good move, especially if Turner hopes to get a Tony Romo-like impact to its coverage. And who better to break down hockey than “The Great One?”But Turner’s coverage isn’t about just explaining the dynamics of an NHL contest. It’s about entertainment and growing the NHL outside of its traditional fanbase. Barkley can help with that growth.In sports business circles, there’s chatter TNT president Lenny Daniels is being urged to consider the move, and he should. Here’s why.The Babe Ruth of the NHLOn Tuesday, Gretzky, 60, vacated an executive role with the Edmonton Oilers and will now attempt to reinvent himself the same way Barkley did in 2000 when he joined Turner’s “Inside the NBA” show. In an interview with the Associated Press, Gretzky said the “stars were aligned” while discussing the move to Turner Sports since he’ll be closer to family, which is a bonus. “And I get to do what I love to do, which is talk about hockey,” he added.There’s no doubt Gretzky was a phenom on the ice. He’s the all-time leader in total points, goals scored, and assists. He won the Hart Memorial Trophy nine times, making 18 NHL All-Star appearances, and won four Stanley Cup trophies. Respected sports media adviser Lee Berke said Gretzky’s Turner Sports addition is like the Babe Ruth of hockey showing up.”There is nobody better offensively, and he’s got a terrific name that appeals to people – and casual fans know Wayne Gretzky,” said Berke, the CEO of LHB Sports, Entertainment and Media. “The question is: As good as a reputation is, how will that person do as an analyst?””He’s going to have to prove himself all over again,” Berke added. “And they’re (Turner Sports) going to have to give him time. But in terms of attracting attention, building momentum, it’s a good move.”Jamie Redmond interviews Wayne Gretzky before Game Four of the 2019 NHL Stanley Cup Final between the Boston Bruins and the St. Louis Blues at Enterprise Center on June 03, 2019 in St Louis, Missouri.David Flotte | NHL Images | National Hockey League | Getty ImagesAgain, if he emulates Romo, the former Dallas Cowboys quarterback turned CBS Sports star, it’s a success. But remember, ESPN tried to transform another Cowboys great, Jason Witten, for a similar role, and that didn’t work out as well.It’s here Barkley can help with Gretzky’s transition. After all, he’s credited with helping land Gretzky to Turner’s NHL crew. Barkley is authentic and has a great TV personality. Viewers tune in, whether they agree with his perspective or not.And Barkley is a sports fan. Outside of the NBA, he does studio work for Turner and CBS’ NCAA men’s basketball coverage and chimes in on golf events. He’s also a hockey fan, so he’s familiar with the sport.”He’s iconoclastic, opinioned – his opinions are thought out, funny and clever,” said Berke, mentioning Barkley’s short appearance on NBC Sports’ NHL coverage while attending a Stanley Cup game in 2019.”He was only on about five or six minutes, and he was terrific,” Berke added. “I think he would be a tremendous addition and has a great perspective to offer up.”NHL on Turner needs to be different Speculation about Barkley’s addition for NHL coverage isn’t new. A few media outlets, including Sports Illustrated, mentioned the idea after Turner captured NHL rights. But the network will need to differentiate from ESPN to bring in a new audience.The Disney-owned network will return pro hockey to its lineup for the first time since 2004, paying about $400 million total for the package, which includes streaming. Berke said ESPN will continue to feature NHL analyst Barry Melrose for its coverage and, more than likely, take a “professional” approach in the way it presents hockey games.Turner can explore a bit more, though, as the network does with the NBA. Berke credited Turner’s move to add legendary pitcher Pedro Martinez to its Major League Baseball coverage in 2013.”It’s one of the great things about Turner,” Berke said. “They come up with a way of showcasing sports. They do a spectacular job with the NBA. They come up with their own flair and commentary that gives a different perspective.”Asked how Daniels would approach building an NHL audience, Berke, who has known the sports executive for years, responded: “I think he’s going to want to come up with his distinctive approach.””You already have a core audience that wants to see these games,” he added. “So you’re not going to reinvent everything from scratch. You’ll need to develop credibility, and certainly Kenny Albert, Wayne Gretzky develop credibility. But you also want to develop your own style for it.”And what better way to do that than with a voice like Sir Charles?Barkley doesn’t need to teach the game. He just needs to make it entertaining for casual fans. Turner could add a Barkley hockey cam or get a sponsored segment with Barkley’s insight from time to time. Something, anything, but find a way to include him. The challenges are there, especially since the NBA and NHL seasons overlap. But there are also opportunities to make it work, like the Winter Classic or those Stanley Cup showings.”Add Barkley, add Gretzky – come up with more stars and showcase in a way that makes it yours,” said Berke. “I hope they can pull it off. He (Barkley) adds interest and viewers to anything he gets involved in.” More
With the stock market trading in record territory, CNBC’s Jim Cramer on Tuesday delivered advice on how investors can capitalize and turn profits if stocks take a tumble in the future.
“The market is often wrong, especially during earnings season. You need memory to take advantage of these temporary multi-day declines,” the “Mad Money” host said.
The comments come after a mixed day on Wall Street where the Dow Jones and S&P 500 averages dipped from their highs the day prior, snapping a six-day winning streak in both indexes. The Dow declined about 10 points to 31,375.83 and the benchmark S&P 500 declined a modest 0.11% to 3,911.23.
The Nasdaq Composite was the exception, rising 0.14% for a record close of 14,007.70, extending its streak of gains to four days.
“There’s always another sell-off … so on a tepid day where nothing much really happened,” Cramer said, “let me tell you how to profit from the next sell-off. You need to remember what got plastered the last time and then bounced right back, so that you’re ready for the next opportunity.”
Cramer used recent trading action in Chipotle and Constellation Brands for examples.
Chipotle shares pulled back nearly 3% over two trading days after the restaurant chain posted a mixed quarterly report a week ago. While some investors disapproved of the company’s results from the holiday quarter, Cramer labeled it a mistake, given that Chipotle saw same-store sales grow 11% in January, the first month of the current quarter.
Shares have since rebounded 4.8%, reaching a new closing high of $1,550.49 Tuesday.
“This stock got crushed by people who didn’t like the quarter. I told you they were wrong. Why? Because those people knew nothing,” Cramer said. “Sure enough, today Chipotle hit a new all-time high. Don’t sell it. Right now the company’s just banging it out with delivery and all sorts of new ways to handle takeout.”
Constellation Brands, the spirits and wine company whose brands include Modelo and Corona beers, lost 8% of market value after about a month ago reporting a top- and bottom-line beat in its fiscal third quarter. After falling below $211 in late January, Constellation stock has since rebounded almost 11% to $233.8 Tuesday.
The alcohol company also has a large stake in Canadian-cannabis producer Canopy Growth, which reported mixed results in its fourth-quarter report Monday. Canopy shares are up almost 63% in the past month.
“The market was just dumb. It was dumb-as-a-bag-of-hammers wrong. Today, Constellation hit $233,” Cramer said. “This is going to take out its all-time high of $240. Canopy’s surged from $29 to $49. [CEO] Bill Newlands came on [this show] and he gave you a two-fer, but you had to listen. You had to know that he was right and the market was wrong.”

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Elon Musk, Warren Buffett, Ray Dalio and others have weighed in on the fraying U.S.-China relations and rising tensions over a possible invasion of Taiwan.
Their consternation could help center Taiwan in the coming 2024 election cycle, where China is already bound to be a chief foreign policy issue.
Florida Gov. Ron DeSantis, former President Donald Trump, ex-Vice President Mike Pence and former UN Ambassador Nikki Haley have discussed the cross-strait tensions.
Chinese tourists walk past an installation depicting Taiwan (R) and mainland China at a tourist area on Pingtan island, the closest point to Taiwan, in China’s southeast Fujian province on April 6, 2023.
Greg Baker | AFP | Getty Images
Fraying U.S.-China relations and rising tensions over Taiwan have influential business leaders such as Elon Musk and Warren Buffett sounding alarms about a possible invasion – a matter that will likely loom over the 2024 election.
China is already bound to be a major issue in the U.S. campaign as President Xi Jinping pushes to expand his nation’s power. China’s policy regarding Taiwan, the world’s leader in the semiconductor industry, could end up making it an even bigger focus.
The cross-strait strife has already provoked commentary from some top contenders in the Republican presidential primary race who have stressed the need to deter a possible Chinese invasion invasion of the island. Taiwan is also a topic of discussion during this week’s Group of Seven meeting in Japan, which President Joe Biden is attending.
Xi has made Taiwan “reunification” a focal point of his agenda and Beijing has ramped up hostilities against the island, putting a spotlight on its importance to the global economy and conjuring fears of a major international conflict that could eclipse Russia’s devastating war in Ukraine.
“The official policy of China is that Taiwan should be integrated. One does not need to read between the lines, one can simply read the lines,” Tesla CEO Musk said in an interview Tuesday with CNBC’s David Faber.
“So I think there’s a certain — there’s some inevitability to the situation,” Musk said, adding that it would be bad for “any company in the world.”
Tesla just last month announced plans to open a new factory in Shanghai that will build “Megapack” batteries.
Musk’s remarks came one day after Buffett’s Berkshire Hathaway revealed in a filing that it has completely abandoned its recently acquired stake in Taiwan Semiconductor Manufacturing Co., once worth more than $4 billion. The world’s largest chipmaker, based in Hsinchu, Taiwan, produces the majority of the advanced semiconductors used by top tech companies like Apple, Amazon, Google, Qualcomm and more.
Buffett said in recent weeks that the geopolitical strife over Taiwan was “certainly a consideration” in his decision to offload the shares over the last two fiscal quarters. And in an analyst call earlier this month, Buffett said that while the company was “marvelous,” he had “reevaluated” his position “in the light of certain things that were going on.”
“I feel better about the capital that we’ve got deployed in Japan than Taiwan. And I wish it weren’t so, but I think that’s a reality,” he said.
Meanwhile, Ray Dalio, founder of hedge fund titan Bridgewater Associates, in late April wrote a lengthy post on LinkedIn warning that the U.S. and China were on the “brink of war” — though he specified that that could mean a war of sanctions rather than military might.
The apparent worries from the three members of Forbes’ list of the world’s richest people come “a little late to the party,” Longview Global senior policy analyst Dewardric McNeal said in an interview with CNBC.
“It’s frustrating to me,” McNeal said. “We’ve been talking about this for years, and we’ve also been trying to warn against being overly dependent on China as your source for selling products [and] manufacturing products.”
He also noted that Berkshire Hathaway still holds stock in BYD, an electric car maker based in Shenzhen, China. “Quite frankly, it is advantageous for China to scare investors away from Taiwan and damage or taint that economy, because that is one of the scenarios [in which] that they could bring Taiwan to heel without an armed intervention,” McNeal said.
Buffett’s company has sold more than half the stake in BYD it held as of last year.
“I don’t think an attack is imminent, but that doesn’t mean you shouldn’t be using this time to plan,” McNeal said. “And what I often see is businesses sort of talking beyond the point, hoping — hope is not a strategy — that this won’t happen.”
The U.S. policy on Taiwan
U.S. intelligence officials have said Xi is pushing China’s military to be ready to seize Taiwan by 2027. China is “likely preparing for a contingency to unify Taiwan with the [People’s Republic of China] by force,” the Pentagon said in 2021.
China asserts Taiwan, a self-governing democracy, is part of its territory. It has pushed to absorb the island under the banner of “one country, two systems,” a status rejected by Taiwan’s government in Taipei.
Beijing in recent years has steadily ramped up its pressure over Taiwan on economic and military fronts. It flexed its might as recently as last month by conducting large combat drills near Taiwan, while vowing to crack down on any hints of Taiwanese independence.
China has not ruled out using force to take control of Taiwan.
Taiwan’s recent interactions with the U.S. have provoked aggressive reactions from China. After then-House Speaker Nancy Pelosi, D-Calif., visited Taipei last summer, China launched missiles over Taiwan and cut off some diplomatic channels with the U.S.
A meeting in California last month between Taiwan’s president, Tsai Ing-wen, and current House Speaker Kevin McCarthy, R-Calif., prompted more threats and fury from Beijing.
Even in a political climate where both major U.S. parties have been critical of China and wary of its encroaching global influence, leaders have tread carefully around the volatile subject of Taiwan. The U.S. has officially recognized a “One China” policy — that Taiwan is a part of the mainland — for more than four decades, and China has vowed to sever diplomatic ties with countries that seek official diplomacy with Taiwan.
While Pelosi spoke of America’s interest in preserving Taiwan’s democracy on her trip to Taipei, she stressed in a Washington Post op-ed at the time that her visit “in no way contradicts the long-standing one-China policy.”
Biden was seen to break with America’s longstanding stance on Taiwan when he said last year that U.S. forces would defend the island if it was attacked by China. The White House, however, maintains the U.S. policy on Taiwan is unchanged.
2024 contenders weigh in
Dalio predicted that the brinksmanship between the two superpowers will grow more aggressive over the next 18 months, in part because the 2024 U.S. election cycle could usher in a swell of anti-Chinese rhetoric.
There’s little doubt that China will a major topic on the campaign trail. At least three Republicans who are seen as potential presidential candidates — Florida Gov. Ron DeSantis, Virginia Gov. Glenn Youngkin and former United Nations Ambassador John Bolton — have recently embarked on trips to Asia, including Taiwan, to meet with allied leaders.
Meanwhile, U.S. lawmakers at every level have produced an array of legislation seeking to reverse China’s growing influence, some of which has drawn accusations of fearmongering. And some of the potential presidential contenders have already weighed in with calls to meet Chinese aggression with strength.
“Xi clearly wants to take Taiwan at some point,” DeSantis said in an interview with Nikkei while in Japan. “He’s got a certain time horizon. He could be emboldened to maybe shorten that horizon. But I think ultimately what I think China respects is strength,” DeSantis said.
DeSantis had drawn criticism for a previous foray into geopolitics when he described Russia’s war in Ukraine as a “territorial dispute.” His views on U.S. policy toward Taiwan, in contrast, were more vague.
“I think our policy should really be to shape the environment in such a way that really deters them from doing that,” DeSantis said of a potential Chinese invasion of Taiwan. “I think if they think the costs are going to outweigh whatever benefits, then I do think that they would hold off. That should be our goal.”
DeSantis, who is gearing up to formally announce his presidential campaign next week, is seen as former President Donald Trump’s top rival for the Republican nomination.
Trump said last year that he expected China to invade Taiwan because Beijing is “seeing that our leaders are incompetent,” referring to the Biden administration.
Former Vice President Mike Pence, who says he will make his own decision about running for president by next month, said in April that the U.S. should increase sales of military hardware to Taiwan, “so that the Chinese will have to count the cost before they make any move against that nation.”
In an interview Wednesday on CNBC’s “Squawk Box,” Pence cited the cross-strait tensions as an argument against cutting U.S. military spending.
“At a time when China is literally floating a new battleship every month and continuing military provocations across the Asia-Pacific and Russia’s waging an unprovoked war in Eastern Europe, the last thing we ought to be doing is cutting defense spending,” he said.
Former United Nations Ambassador Nikki Haley, who launched her presidential campaign in February, said in a statement to CNBC, “American resolve matters to China.”
“They are watching what we do in Ukraine. If we abandon our friends in Ukraine, as some want us to do, it will only encourage China to attack our friends in Taiwan,” Haley said.
‘Like trying to separate conjoined twins’
But the political will to defend Taiwan in a Chinese invasion may clash with economic forces.
“Almost no one realizes that the Chinese economy and the rest of the global economy are like conjoined twins. It would be like trying to separate conjoined twins,” Musk told CNBC on Tuesday. “That’s the severity of the situation. And it’s actually worse for a lot of other companies than it is for Tesla. I mean, I’m not sure where you’re going to get an iPhone, for example.”
Some CEOs of America’s biggest banks have said they would pull their business from China if directed to do so following an invasion of Taiwan. But Musk’s characterization of the entangled global economy is no exaggeration — and much of the focus has fallen on TSMC.
“If Taiwan were taken out, we would be like severing our brain, because the world economy will not work without [TSMC] and the chips that come out of Taiwan today,” John Rutledge, chief investment strategist of Safanad, said Wednesday on CNBC’s “Power Lunch” in response to Musk’s comments.
David Sacks, a research fellow at the Council on Foreign Relations, said on CNBC that Apple is in a “very tough position” because the most advanced chips it needs are made in a single building on TSMC’s campus in Taiwan.
The company’s technological edge in the production of semiconductors, which are used in all manner of products from cars to washing machines, has led to it being a potential “single point of failure” for many companies, McNeal said.
But he also noted that the global reliance on TSMC — including by China, which reportedly depends on the company to provide about 70% of the chips needed to fuel its electronics industry — could act as a sort of bulwark against an invasion.
A paper from the Stimson Center on Taiwan’s “Silicon Shield” put a fine point on the issue: “Without a doubt, the first Chinese bomb or rocket that should fall on the island would make the supply chain impact of the COVID pandemic seem like a mere hiccup in comparison.”
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There are nevertheless efforts underway to diversify the industry geographically, including through a $40 billion investment to expand TSMC chip production in Arizona.
McNeal said the issue should not solely be centered around TSMC and possible supply chain woes.
“For our Taiwan friends, that message says you don’t give a damn about them, their lives, their safety. You’re only in this for what it means for your bottom line,” he said. “For me personally, that’s not a message that I want to send.”
— CNBC’s Amanda Macias and Michael Bloom contributed to this report.
Disclosure: Dewardric McNeal is a CNBC contributor. More
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 169,387, according to Johns Hopkins University. Global deaths: At least 6,513, according to Johns Hopkins University. US cases: At least […] More
Abercrombie & Fitch has seen blockbuster growth over the last two years but it’s expecting that pace to moderate more than Wall Street expected in the year ahead.
The company is forecasting fiscal 2025 sales to rise between 3% and 5%, falling short of expectations of 6.8%, according to LSEG.
During its holiday quarter, Abercrombie narrowly beat expectations on the top and bottom lines.
An Abercrombie & Fitch store stands in midtown Manhattan in New York City on Oct. 24, 2024.
Spencer Platt | Getty Images
Abercrombie & Fitch’s growth story is starting to slow down.
The apparel retailer issued weaker-than-expected guidance for its current quarter and fiscal 2025, and said it expects its sales will grow more slowly than Wall Street anticipated.
Abercrombie is expecting sales to rise between 3% and 5% in fiscal 2025, well below estimates of 6.8% growth, according to LSEG. During its current quarter, the company anticipates earnings per share will be between $1.25 and $1.45, short of expectations of $1.97.
Shares fell nearly 5% in premarket trading.
Beyond its guidance, Abercrombie narrowly beat Wall Street’s expectations in its fiscal fourth quarter. Here’s how the retailer performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
Earnings per share: $3.57 vs. $3.54 expected
Revenue: $1.58 billion vs. $1.57 billion expected
The company’s reported net income for the three-month period that ended Feb. 1 was $187 million, or $3.57 per share, compared with $158 million, or $2.97 per share, a year earlier.
Sales rose to $1.58 billion, up 9% from $1.45 billion a year earlier.
In January, Abercrombie offered investors a glimpse into its holiday performance when it released an early set of results and raised its fourth-quarter outlook. Still, its stock tumbled that day because the forecast showed that Abercrombie was expecting its growth to moderate, and it didn’t anticipate its operating margin would improve beyond its previous forecast.
Following about two years of explosive stock and sales growth, Abercrombie’s business appears to be leveling out, and the markets may be turning away from retail’s biggest star in favor of names with more immediate upside.
The company is still growing, and working to build out its international market, but it’s unclear if it’s still going to see the blockbuster numbers it’s been putting out after implementing a turnaround under CEO Fran Horowitz. It faces tough prior-year comparisons, and some of the buzz from the turnaround might be starting to fade.
Plus, consumers have been noticeably cautious since the start of the year, which is always going to pressure specialty retailers that sell discretionary goods like clothes. Geopolitics, unseasonably cool weather and mass tragedies like the wildfires in Los Angeles have dampened consumer demand, but shoppers are also concerned about things like rising prices from tariffs. In February, consumer confidence slipped to its lowest levels since 2021.
Additionally, Abercrombie could have seen an impact from the proposed TikTok ban, which dragged on E.l.f. Beauty’s performance at the start of the year. Both of the companies rely heavily on TikTok for marketing. In February, E.l.f. CEO Tarang Amin told CNBC that he suspects the proposed ban impacted cosmetics sales because people weren’t posting things like “get ready with me” videos or clothing hauls, which can drive sales.
In a news release in January, Horowitz signaled that moving forward, Abercrombie will be more focused on boosting profits than sales as it looks to “drive long-term shareholder value.”
“Following an expected two years of double-digit top and bottom-line growth, I am as confident as ever in the power of our brands and operating model as we move forward, supported by the outstanding capabilities we’ve built,” said Horowitz. “In 2025, we will look to continue sustainable, profitable growth through the execution of our playbooks to win and retain customers around the world. Our goal is to leverage our healthy margin structure and balance sheet to grow operating income dollars and earnings per share at rates faster than sales.” More
In this articleVIACNHLICharles Barkley on Inside the NBASource: NBA on TNTThe National Hockey League needs crossover appeal, and with its new media rights partnership with Turner Sports, it’s the perfect time to add Charles Barkley to its coverage.The NHL and Turner’s parent company WarnerMedia agreed to a rights pact for more than $1 billion in April, under which Turner will air three Stanley Cups and the Winter Classic. Turner wasted no time adding to broadcasting talent, and on Wednesday, landed hockey legend Wayne Gretzky.The decision to add Gretzky is a good move, especially if Turner hopes to get a Tony Romo-like impact to its coverage. And who better to break down hockey than “The Great One?”But Turner’s coverage isn’t about just explaining the dynamics of an NHL contest. It’s about entertainment and growing the NHL outside of its traditional fanbase. Barkley can help with that growth.In sports business circles, there’s chatter TNT president Lenny Daniels is being urged to consider the move, and he should. Here’s why.The Babe Ruth of the NHLOn Tuesday, Gretzky, 60, vacated an executive role with the Edmonton Oilers and will now attempt to reinvent himself the same way Barkley did in 2000 when he joined Turner’s “Inside the NBA” show. In an interview with the Associated Press, Gretzky said the “stars were aligned” while discussing the move to Turner Sports since he’ll be closer to family, which is a bonus. “And I get to do what I love to do, which is talk about hockey,” he added.There’s no doubt Gretzky was a phenom on the ice. He’s the all-time leader in total points, goals scored, and assists. He won the Hart Memorial Trophy nine times, making 18 NHL All-Star appearances, and won four Stanley Cup trophies. Respected sports media adviser Lee Berke said Gretzky’s Turner Sports addition is like the Babe Ruth of hockey showing up.”There is nobody better offensively, and he’s got a terrific name that appeals to people – and casual fans know Wayne Gretzky,” said Berke, the CEO of LHB Sports, Entertainment and Media. “The question is: As good as a reputation is, how will that person do as an analyst?””He’s going to have to prove himself all over again,” Berke added. “And they’re (Turner Sports) going to have to give him time. But in terms of attracting attention, building momentum, it’s a good move.”Jamie Redmond interviews Wayne Gretzky before Game Four of the 2019 NHL Stanley Cup Final between the Boston Bruins and the St. Louis Blues at Enterprise Center on June 03, 2019 in St Louis, Missouri.David Flotte | NHL Images | National Hockey League | Getty ImagesAgain, if he emulates Romo, the former Dallas Cowboys quarterback turned CBS Sports star, it’s a success. But remember, ESPN tried to transform another Cowboys great, Jason Witten, for a similar role, and that didn’t work out as well.It’s here Barkley can help with Gretzky’s transition. After all, he’s credited with helping land Gretzky to Turner’s NHL crew. Barkley is authentic and has a great TV personality. Viewers tune in, whether they agree with his perspective or not.And Barkley is a sports fan. Outside of the NBA, he does studio work for Turner and CBS’ NCAA men’s basketball coverage and chimes in on golf events. He’s also a hockey fan, so he’s familiar with the sport.”He’s iconoclastic, opinioned – his opinions are thought out, funny and clever,” said Berke, mentioning Barkley’s short appearance on NBC Sports’ NHL coverage while attending a Stanley Cup game in 2019.”He was only on about five or six minutes, and he was terrific,” Berke added. “I think he would be a tremendous addition and has a great perspective to offer up.”NHL on Turner needs to be different Speculation about Barkley’s addition for NHL coverage isn’t new. A few media outlets, including Sports Illustrated, mentioned the idea after Turner captured NHL rights. But the network will need to differentiate from ESPN to bring in a new audience.The Disney-owned network will return pro hockey to its lineup for the first time since 2004, paying about $400 million total for the package, which includes streaming. Berke said ESPN will continue to feature NHL analyst Barry Melrose for its coverage and, more than likely, take a “professional” approach in the way it presents hockey games.Turner can explore a bit more, though, as the network does with the NBA. Berke credited Turner’s move to add legendary pitcher Pedro Martinez to its Major League Baseball coverage in 2013.”It’s one of the great things about Turner,” Berke said. “They come up with a way of showcasing sports. They do a spectacular job with the NBA. They come up with their own flair and commentary that gives a different perspective.”Asked how Daniels would approach building an NHL audience, Berke, who has known the sports executive for years, responded: “I think he’s going to want to come up with his distinctive approach.””You already have a core audience that wants to see these games,” he added. “So you’re not going to reinvent everything from scratch. You’ll need to develop credibility, and certainly Kenny Albert, Wayne Gretzky develop credibility. But you also want to develop your own style for it.”And what better way to do that than with a voice like Sir Charles?Barkley doesn’t need to teach the game. He just needs to make it entertaining for casual fans. Turner could add a Barkley hockey cam or get a sponsored segment with Barkley’s insight from time to time. Something, anything, but find a way to include him. The challenges are there, especially since the NBA and NHL seasons overlap. But there are also opportunities to make it work, like the Winter Classic or those Stanley Cup showings.”Add Barkley, add Gretzky – come up with more stars and showcase in a way that makes it yours,” said Berke. “I hope they can pull it off. He (Barkley) adds interest and viewers to anything he gets involved in.” More
With the stock market trading in record territory, CNBC’s Jim Cramer on Tuesday delivered advice on how investors can capitalize and turn profits if stocks take a tumble in the future.
“The market is often wrong, especially during earnings season. You need memory to take advantage of these temporary multi-day declines,” the “Mad Money” host said.
The comments come after a mixed day on Wall Street where the Dow Jones and S&P 500 averages dipped from their highs the day prior, snapping a six-day winning streak in both indexes. The Dow declined about 10 points to 31,375.83 and the benchmark S&P 500 declined a modest 0.11% to 3,911.23.
The Nasdaq Composite was the exception, rising 0.14% for a record close of 14,007.70, extending its streak of gains to four days.
“There’s always another sell-off … so on a tepid day where nothing much really happened,” Cramer said, “let me tell you how to profit from the next sell-off. You need to remember what got plastered the last time and then bounced right back, so that you’re ready for the next opportunity.”
Cramer used recent trading action in Chipotle and Constellation Brands for examples.
Chipotle shares pulled back nearly 3% over two trading days after the restaurant chain posted a mixed quarterly report a week ago. While some investors disapproved of the company’s results from the holiday quarter, Cramer labeled it a mistake, given that Chipotle saw same-store sales grow 11% in January, the first month of the current quarter.
Shares have since rebounded 4.8%, reaching a new closing high of $1,550.49 Tuesday.
“This stock got crushed by people who didn’t like the quarter. I told you they were wrong. Why? Because those people knew nothing,” Cramer said. “Sure enough, today Chipotle hit a new all-time high. Don’t sell it. Right now the company’s just banging it out with delivery and all sorts of new ways to handle takeout.”
Constellation Brands, the spirits and wine company whose brands include Modelo and Corona beers, lost 8% of market value after about a month ago reporting a top- and bottom-line beat in its fiscal third quarter. After falling below $211 in late January, Constellation stock has since rebounded almost 11% to $233.8 Tuesday.
The alcohol company also has a large stake in Canadian-cannabis producer Canopy Growth, which reported mixed results in its fourth-quarter report Monday. Canopy shares are up almost 63% in the past month.
“The market was just dumb. It was dumb-as-a-bag-of-hammers wrong. Today, Constellation hit $233,” Cramer said. “This is going to take out its all-time high of $240. Canopy’s surged from $29 to $49. [CEO] Bill Newlands came on [this show] and he gave you a two-fer, but you had to listen. You had to know that he was right and the market was wrong.”

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