Raphael Stevens

The jackpot has been growing for three months and through 38 drawings, with no ticket matching all six numbers pulled.
For Monday night’s Powerball drawing, the cash option for the $540 million jackpot is $384.3 million (before taxes).
Your chance of winning the game’s top prize is about 1 in 292 million.

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The Powerball jackpot just won’t quit.
Through 38 drawings over three months, no ticket has managed to match all six numbers drawn. For Monday night’s drawing, the jackpot is now $540 million.

Yet the prize still isn’t enough to vault it into the top 10 largest lottery jackpots. The crown goes to a 2016 Powerball jackpot worth $1.58 billion when three winners — from California, Florida and Tennessee — hit the motherlode. Not far behind is a $1.53 billion Mega Millions jackpot in 2018 that was claimed by a sole winner in South Carolina.

To enter the top 10, a jackpot would have to reach more than $648 million — that’s the amount in 10th place, which was split in 2013 by two Mega Millions players, one from California, the other from Georgia.

Of course, there are winners of smaller amounts in each drawing.
In the last Powerball pull, held Saturday, a ticket sold in Florida landed $10 million in the game’s “Double Play,” which not all jurisdictions offer. Additionally, someone in Maryland won $2 million, and three tickets — sold in Arizona, California and Florida — are worth $1 million each. 
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The advertised prize amounts are based on the winner taking their loot as 30 payments over 29 years. Most jackpot winners, however, choose the lower, immediate cash option. For this $540 million Powerball prize, that cash amount is $384.3 million (before taxes).
Meanwhile, the Mega Millions jackpot is $244 million for Tuesday night’s drawing. The cash option is $172.5 million.
The chance of a single ticket hitting the jackpot in either game is tiny: 1 in 292 million for Powerball and 1 in 302 million for Mega Millions.

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The New York attorney general’s office issued subpoenas to Donald Trump Jr. and his sister Ivanka Trump for a civil investigation of the company owned by former President Donald Trump.
The elder Trump last month sued New York Attorney General Letitia James in federal court in Albany, New York, seeking to block her investigation.
The probe is focused on allegations that the Trump Organization misstated the value of various properties for financial benefits.

Republican presidential candidate Donald Trump (C) gives two thumbs up as Donald Trump Jr. (L) and Ivanka Trump (R) stand and cheer for Eric Trump as he delivers his speech during the third day of the Republican National Convention on July 20, 2016 at the Quicken Loans Arena in Cleveland, Ohio.
Joe Raedle | Getty Images

The New York attorney general’s office issued subpoenas to Donald Trump Jr. and his sister Ivanka Trump for a civil investigation of the company owned by former President Donald Trump, a court filing revealed Monday.
The subpoenas aim to force the Trump siblings to answer questions under oath about valuations of real estate assets by Trump Organization, just as their brother Eric Trump did last year after losing a legal fight that sought to delay his interview until after the 2020 presidential election lost by their father.

The subpoenas also “would allow investigators or any matter which the Attorney General deems pertinent,” the court filing in Manhattan Supreme Court says.
New York Attorney General Letitia James, whose office filed the document, already was known to be seeking to have ex-president Trump questioned under oath.
But it was not previously known that she wants to question Donald Jr., who runs the Trump Organization with Eric, and Ivanka, a former White House senior advisor during their father’s administration. The New York Times first reported details of the filing.
The elder Trump last month sued James in federal court in Albany, New York, seeking to block her investigation, which is focused on allegations that the Trump Organization misstated the value of various properties for financial benefits. Trump’s suit argues, among other things, that James’ investigation is tainted by political bias. The attorney general is a Democrat and Trump is a Republican.
Donald Trump, Donald Jr. and Ivanka are disputing the subpoenas, according to Monday’s court filing by James’s office.

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The filing lays out a schedule to lawyers for all three Trumps to file motions that would seek to quash the subpoena or otherwise modify them, and for James’ office to reply to those motions. Lawyers for the Trumps agreed to that schedule. Judge Arthur Engoron signed off on the proposed schedule. The lawyers filed the motions later Monday.
A spokesman for James said, “As her investigation into financial dealing of the Trump Organization continues, Attorney General James is seeking interviews under oath of Donald Trump, Donald Trump Jr., and Ivanka Trump.”
James herself issued a statement later Monday.
“For more than two years, members of the Trump family and the Trump Organization have continually sought to delay and impede our investigation into Donald Trump and the Trump Organization, but despite their names, they must play by the same rules as everyone else,” she said. “These delay tactics will not stop us from following the facts or the law, which is why we will be asking the court to compel Donald Trump, Donald Trump Jr., and Ivanka Trump to testify with our office under oath. Our investigation will continue undeterred.”
Lawyers for the former president and Donald Jr. and Ivanka did not immediately respond to requests for comment.
The Manhattan District Attorney’s Office is conducting a criminal investigation into the same issues related to Trump Organization valuation of real estate properties as James is for her civil inquiry.

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Ford’s shares jumped by roughly 140% last year, making it the top-performing auto stock.
Morgan Stanley analyst Adam Jonas said it was “truly a breakthrough year for Ford … easily the most important year strategically for the company since the financial crisis.”
Since auto veteran Jim Farley took the CEO helm more than 15 months ago, the stock is up by more than 200%.

The all-electric Ford F-150 Lightning truck during an augmented reality presentation at the Motor Bella Auto Show in Pontiac, Michigan, on Tuesday, Sept. 21, 2021.
Emily Elconin | Bloomberg | Getty Images

DETROIT – Shares of Ford Motor soared by roughly 140% last year, beating Tesla, its larger crosstown rival General Motors and a host of electric vehicle start-ups to become the best performing stock among automakers in 2021.
Investors have rewarded the new direction under auto veteran Jim Farley, who took the helm in October 2020 after the Ford board ousted industry outsider Jim Hackett.

Farley promised to be more open and direct with investors. He also launched the Ford+ restructuring plan, which shifts more resources to build electric vehicles like the upcoming F-150 Lightning pickup.
“We’re executing our plan and we’ll continue to do that so every business in our portfolio has a sustainable future. If not, we will restructure it,” he said in a January 2021 interview.

Morgan Stanley analyst Adam Jonas said it was “truly a breakthrough year for Ford … easily the most important year strategically for the company since the financial crisis.”
Ford’s largest single-day share increase came on Dec. 10 when Farley confirmed on Twitter that it would triple production of the electric Mustang Mach-E to more than 200,000 units per year for North America and Europe by 2023. He told CNBC the day before that the company halted reservations of the F-150 Lightning after they hit 200,000 units.
Shares that day jumped 9.6% to a roughly 20-year high of $21.45 a share.

The next best day for investors came on Oct. 28 after the automaker delivered its third-quarter earnings, raising its yearly guidance and announcing EPS that doubled analysts’ estimates. Shares rose by 8.7%.
Other big days included a 8.5% jump on May 26 during the automaker’s investor day, with details of the Ford+ turnaround plan, and a 8.4% gain on Jan. 20 after Deutsche Bank added a short-term buy on the stock ahead of its annual earnings report.
Since Farley took the helm more than 15 months ago, the stock is up by more than 200%. The runup will continue if the company is able to deliver on Ford+ plan initiatives that included accelerating EV plans, observers say, and achieve an 8% adjusted profit margin before interest and taxes by 2023.
Ford is rated overweight with a price target of $20.25 a share and a long-term growth rate of 67.8%, according to an average of 22 analysts compiled by FactSet. Shares closed last year at $20.77, up by 136.3% in 2021.  

Ford, at a market cap of $83 billion, still has a long road ahead of it to get its market value up to most of its established competitors as well as EV start-up Rivian.
Here’s how other legacy automakers, as well as top emerging EV start-ups, did last year and what analysts expect from them in 2022, according to average analysts compiled by FactSet.
Tesla (TSLA): $1,056.78, up 49.8%

Rating/target: Hold/$878
Market cap: $1.1 trillion

Lucid (LCID, since July 26): $38.05, up 41.8%

Rating/target: Overweight/$44.33
Market cap: $62.6 billion

Volkswagen (VWAGY): $29.39, up 41.2%

Rating/target: Overweight/$28.77
Market cap: $127.9 billion

General Motors (GM): $58.63, up 40.8%

Rating/target: Buy/$74.45
Market cap: $85.1 billion

Toyota (TM): $185.30, up 19.9%

Rating/target: Overweight/$211.59
Market cap: $253.2 billion

Ferrari (RACE): $258.82, up 12.8%

Rating/target: Hold/$258.40
Market cap: $47.6 billion

Stellantis (STLA): $18.76, up 10%

Rating/target: Buy/$26.51
Market cap: $59.2 billion

Fisker (FSR): $15.73, up 7.4%

Rating/target: Overweight/$25.50
Market cap: $4.7 billion

Rivian (RIVN, since Nov. 10): $103.69, up 2.9%

Rating/target: Overweight/$133.92
Market cap: $93.4 billion

Nio (NIO): $31.68, down 35%

Rating/target: Buy/$59.18
Market cap: $52.1 billion

Nikola (NKLA): $9.87, down 35.3%

Rating/target: Hold/$15.29
Market cap: $4 billion

Lordstown Motors (RIDE): $3.45, down 82.8%

Rating/target: Underweight/$4.60
Market cap: $663.2 million

– CNBC’s Michael Bloom contributed to this report.

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The Food and Drug Administration on Monday expanded eligibility for Pfizer and BioNTech booster shots to children ages 12 to 15 years old.
The FDA also shortened the time between the second Pfizer dose and the booster shot to five months, down from six months.
The agency also authorized a third vaccine dose as part of the primary series of shots for children ages 5 through 11 who have compromised immune systems.
New Covid infections have hit a pandemic high in the U.S. as the highly contagious omicron variant has supplanted delta as the dominant strain.

The Food and Drug Administration on Monday expanded eligibility for Pfizer and BioNTech booster shots to children ages 12 to 15 years old, as school restarts after winter break amid a surge of Covid infections across the U.S.
The FDA also shortened the time between the second Pfizer dose and the booster shot to five months, down from six months. People who received the two-dose Moderna vaccine are still supposed to get their booster at least six months after the second shot, while those who received Johnson & Johnson as their primary vaccine are eligible for a booster at least two months after their first shot.

The agency also authorized a third vaccine dose as part of the primary series of shots for children ages 5 through 11 who have compromised immune systems.
Dr. Rochelle Walensky, director of the U.S. Centers for Disease Control and Prevention, has encouraged everyone who is eligible to receive a booster dose. The CDC still has to sign off on expanded eligibility for 12- to 15-year-old kids, and its expert advisory panel will meet on Wednesday.

“The recent rise in COVID-19 cases is concerning to all and today’s decision by the FDA to further expand the Emergency Use Authorization of a booster dose of our vaccine is critical to help us ultimately defeat this pandemic,” Pfizer CEO Albert Bourla said in a statement.
“We continue to believe that broad use of boosters is essential to preserving a high level of protection against this disease and reducing the rate of hospitalizations,” Bourla said.
The FDA said no new safety concerns had emerged after evaluating real-world data from Israel on 6,300 kids ages 12 through 15 who received a Pfizer booster dose. There were no new cases in this age group of myocarditis or pericarditis, rare conditions in which heart tissue is inflamed or swells, respectively.

Dr. Peter Marks, who oversees vaccine safety for the FDA, said myocarditis primarily affects males ages 16 to 17, though men as old as 30 have also had the condition. Marks said it is a relatively uncommon side effect of the vaccine and 98% of cases have been mild, with a median hospitalization stay of one day. Patients generally have not had long-lasting effects, Marks said.
“In the setting of a tremendous number of omicron and delta cases in this country, the potential benefits of getting vaccinated in this age range outweigh that risk,” Marks said during a press briefing Monday.
The FDA said peer-reviewed data from multiple laboratories demonstrates that Pfizer booster doses greatly improve an individual’s antibody response to the omicron variant. Allowing people to get booster shots a month sooner may provide better protection faster as omicron rapidly spreads, the agency said.

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Children ages 5 to 11 who have undergone organ transplants or have conditions that compromise their immune systems at a similar level may not respond adequately to two shots, according to the FDA. A third dose would give children in this age group the maximum benefit from vaccination, the agency said.
The FDA made clear that kids ages 5 to 11 with normal immune systems do not need a third vaccine dose right now, but it will review emerging data and update its authorization if third shots are needed broadly for that age group.

New Covid infections have hit a pandemic high in the U.S. as the highly contagious omicron variant has supplanted delta as the dominant strain. The U.S. reported a seven-day average of 404,000 new cases as of Sunday, an increase of 104% compared with the week prior, according to a CNBC analysis of data compiled by Johns Hopkins University.
Elected officials are determined to avoid school closures, and studies from the United Kingdom have shown that booster shots significantly increase an individual’s protection against infection from omicron. Two doses of Pfizer’s vaccine still protect against severe disease from omicron, but the original series of shots are much less effective at preventing infection from the new variant.
More than 65% of people ages 5 and older are fully vaccinated in the U.S., according to CDC data. Children under 5 years of age are not yet eligible for vaccination.
A growing body of data from the U.K. and South Africa indicates that omicron results in hospitalization less often than the delta variant, though researchers and public health officials have cautioned that it is still too early to draw broad conclusions about the strain’s severity.
Children are generally at lower risk of developing severe disease from Covid, though pediatric hospital admissions are increasing in the U.S.

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Starbucks is readying its workforce to comply with the Biden administration’s vaccine-or-test Covid requirements for private businesses.
OSHA is mandating the private companies with at least 100 employees have to enforce weekly testing for unvaccinated workers, although legal challenges have brought the matter before the Supreme Court.
Starbucks also updated its policy dealing with how long baristas should isolate after contracting Covid-19, following the CDC’s new guidance.

A Starbucks employee wears a facial covering while working in Dallas, Texas.
Ronald Martinez | Getty Images

Starbucks is readying its workforce to comply with the Biden administration’s vaccine-or-test Covid requirements for private businesses.
The Occupational Safety and Health Administration is mandating that private companies with at least 100 employees enforce weekly Covid testing and masking for unvaccinated workers as part of a broader plan to encourage vaccinations and slow viral spread. The mandate has faced court challenges from Republican-led states and business groups, and the Supreme Court is expected to hear oral arguments on the matter Friday.

Starbucks, meanwhile, is asking its U.S. employees to disclose their vaccination status by Jan. 10. If they aren’t fully vaccinated by Feb. 9, when enforcement of the federal mandate is set to begin, workers will have to present a negative Covid-19 test no more than seven days before their next shift and once a week going forward.
Unvaccinated workers will have to procure their own tests, and at-home tests will not be accepted.
If the enforcement date changes as a result of the ongoing legal battle over the mandate, Starbucks said it will update its timeline for workers.
The coffee chain also said it may later update its policies if the pandemic worsens. Restaurants’ and retailers’ staffing woes have intensified in recent weeks as the omicron variant spreads, pushing businesses to encourage vaccinations, routine testing and masking for employees.
“If vaccination rates rise and community spread slows, we will adapt accordingly. But if things get worse, we may have to consider additional measures,” John Culver, chief operating officer and North American group president at Starbucks, wrote in a Dec. 27 letter to U.S. baristas.

The coffee chain also updated its policy dealing with how long baristas should isolate after contracting Covid-19, following the Centers for Disease Control and Prevention’s new guidance. Workers who are experiencing symptoms but have tested negative can return to work before the five-day isolation period is up, provided their symptoms have improved.
Baristas can receive self-isolation pay for up to five days of missed shifts twice during the company’s fiscal second quarter.
Shares of Starbucks fell more than 1% in afternoon trading, despite being named a top stock pick for 2022 by BTIG.

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Bed Bath & Beyond’s listing penetration share of wedding registries has fallen to 30% — the lowest-ever finding in the six years that Baird has conducted its annual survey.
Amazon is the most popular retailer among engaged couples, with 45% of listing penetration, according to the equity research firm’s January survey.
Wedding registries are an indicator of a brand’s strength since the category drives higher-margin purchases and can deepen customer loyalty.

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More engaged couples are skipping Bed Bath & Beyond and signing up for wedding registries at Amazon and Target instead, according to a recent survey by Baird.
Bed Bath & Beyond’s listing penetration share of wedding registries has fallen to 30% — the lowest-ever reading in the six years that the equity research firm has conducted its annual survey. That’s a drop from 33% in October and 34% in July, according to the trailing fourth-quarter average. The decline could signal trouble for the company amid a turnaround effort.

Amazon is the top retailer for wedding registries with 45% of listing penetration, according to Baird’s January survey, which tracks trailing fourth-quarter averages. Amazon is followed by Bed Bath with 30% and Target with 26%. Crate & Barrel and Williams-Sonoma both have 15% listing penetration as of January, the survey found. Cash/travel are also popular requests on couple’s registries, with 16% of listing penetration as of January’s survey.
Wedding registries are an important indicator for retailers who sell home goods. Registry purchases tend to have higher margins since family and friends often choose gifts from the list rather than hunting for deals, said Justin Kleber, a retail analyst for Baird. If a company wins a couple’s business during the milestone, it can deepen loyalty and become top of mind as that couple makes other major household purchases, he said.
“If you are capturing a customer at a point of time when they’re married, what comes after that is maybe a new apartment or a new house and maybe after that your family is expanding with a new baby or two,” Kleber said.
Wedding registries may have added significance this year, too. Many analysts expect a wedding boom in 2022, as couples move forward with ceremonies and larger celebrations after delaying them because of the pandemic. This year, 2.5 million nuptials are expected, according to a forecast by The Wedding Report — which would mark a four-decade high.
Baird tracks wedding registries quarterly by using randomized data of newly engaged couples from TheKnot.com. It uses the findings as a directional indicator of wedding registry market share and brands’ resonance among customers, Kleber said.

Those findings have shifted significantly since Baird began the survey in January 2017. Back then, Bed Bath was at the top of the list with 44% of listing penetration share, followed by Target with 29%, Amazon with 20% and Macy’s with 19%.
Kleber said the changes reflect Amazon’s soaring sales and the struggles of some brick-and-mortar players, including Macy’s and Bed Bath, to adapt to e-commerce and attract younger shoppers.
Bed Bath did not immediately respond to a request for comment. The company will report its fiscal third-quarter earnings on Thursday.
Retailers are competing with a new threat, too, he said. More engaged couples are opting for honeymoon and cash funds instead of requesting knife blocks, towels and duvets. Cash/travel has grown in popularity, with 10% of listing penetration in January 2017 to 16% of listing penetration in the January 2022 survey — with the rise of honeymoon registry websites like Honeyfund and the desire of some millennial and Gen Z customers to prioritize experiences over goods.
“There’s a greater incidence today of couples wanting cash or travel or honeymoon funds than there was five years ago,” he said. “That’s a little bit harder for retailers to solve for that piece of the registry equation.”

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