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    Stock futures are flat after Dow starts week lower

    In this article.SPX.DJITraders on the floor of the New York Stock ExchangeSource: NYSEStock futures are flat in overnight trading Monday after the Dow and S&P 500 each started the week lower.Futures on the Dow Jones Industrial Average fell 18 points, or 0.05%. S&P 500 futures ticked 0.01% higher and Nasdaq 100 futures added 0.09%.The Dow fell 126 points, or 0.36%, in the regular session Monday for its worst daily performance since May 19. The S&P 500 dipped 0.08%, and a losing materials sector — down 1.2% — weighed on the market.The Nasdaq Composite edged 0.5% higher on Monday, boosted by shares of Biogen. The biopharmaceutical stock surged 38% after the FDA approved its groundbreaking Alzheimer’s drug.Meme stocks continued their rally Monday. Shares of AMC Entertainment jumped 14.8%, and BlackBerry and GameStop shares also popped double-digits. The U.S. Securities and Exchange Commission said Monday it’s watching ongoing volatility in the market and vowed to protect retail investors.Investors are awaiting new inflation signals later this week following Friday’s jobs report. While the U.S. added fewer jobs than expected in May, the unemployment rate dropped to 5.8% from 6.1% and markets reacted positively to the readout.”The reflation trade is taking a bit of a backseat even as Friday’s ‘Goldilocks’ payrolls report served to quell some concerns that the economy might be doing a bit too well,” Goldman Sachs’ Chris Hussey said in a note Monday. “Today’s market action shows that these concerns might be here to stay.”May’s consumer price index is set to be released Thursday. Economists are expecting the CPI to rise 4.7% from a year earlier, according to Dow Jones. In April, the CPI increased 4.2% on an annual basis, the fastest rise since 2008.All eyes are on the next Federal Open Market Committee meeting scheduled for June 15-16 as investors look for what Fed officials will say about inflation and monetary policy. Recent comments by officials suggest the Fed is beginning to prepare markets for tapering its asset purchases. More

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    T-Mobile CEO says company is poised to dominate 5G for the next decade

    In this articleTMUST-Mobile CEO Mike Sievert on Monday laid out his vision for the next decade, telling CNBC that he believes his company can be the leader in 5G for the next decade.”We’re making the rules for the 5G era because we’re way ahead — and I mean miles ahead — and those rules are going to be customer friendly and we’re going to be able to monetize … this lead over the decade,” Sievert said in an interview with “Mad Money” host Jim Cramer. “We’re going to hold on to this 5G lead for the entirety of the 5G decade.”T-Mobile has watched its stock rise after the company began investing early in the new network infrastructure, which is the fifth generation of wireless connectivity. The company currently says it has 5G coverage for 295 million people across 1.6 million square miles. Sievert said the future was 5G mobile internet pure-play, adding that the company expects to increase the reach of its Ultra Capacity 5G product by about 40% this year. “We’re covering 140 million people with that today, compared to like 4 or 5 million with the other guys, and we’re going to be at 200 million by the end of this year,” Sievert said. “It puts us years ahead of the other guys,” he said.Shares of T-Mobile slipped 0.69% on Monday to close at $143.51. The stock price is up more than 6% in 2021, handily beating the 1.11% rise in AT&T and 2.64% decline in Verizon year to date.Questions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

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    AMC stock jumps nearly 15% as retail-fueled rally stretches to another week

    An AMC theatre is pictured in Times Square in the Manhattan borough of New York City, New York, June 2, 2021.Carlo Allegri | ReutersAMC Entertainment, the meme stock that amazed Wall Street recently, rallied double digits on Monday as speculative trading activity in the struggling movie theater gained steam.Shares of AMC jumped as much as 25% Monday, following an 80% rally in the previous week. AMC has dethroned GameStop to become the star on the infamous WallStreetBets forum on Reddit, with retail traders encouraging each other to pile into the shares and call options.AMC Shares closed 14.8% higher at $55 on Monday.A call option is an instrument that gives an investor the right to buy a stock at a stated price within a particular time frame.Zoom In IconArrows pointing outwardsAMC has gained more than 110% in June alone after a 160% advance in May, pushing its 2021 rally to nearly 2,500%. The stock has far surpassed its January high amid the GameStop trading mania, hitting an intraday record of $72.62 last week.Other meme stocks also traded higher Monday as momentum built. Bed Bath & Beyond advanced 7.2%, while BlackBerry popped 13.8%. GameStop gained 12.7%.Amid the wild trading, TD Ameritrade said Sunday it increased margin requirements on AMC and GameStop to 100%, meaning investors are required to purchase all the securities with cash. The brokerage firm said it may also implement additional requirements on opening trades on AMC options that expire on Friday.”#NakedShorts” and “#NakedShorting” were trending Monday on Twitter as well as over the weekend, referring to the elevated short interest in AMC. Naked shorting is the illegal practice of short selling where a stock’s short interest may be larger than the tradable shares in the market sometimes due to discrepancies between paper and electronic trading systems.AMC has around 18% of its float shares sold short, versus about 5% for an average U.S. stock, according to data from S3 Partners. Short sellers betting against AMC suffered $2 billion in losses last week, S3 data showed.The Securities and Exchange Commission said Monday it’s keeping a close eye on the wild trading to determine if there have been “any disruptions of the market, manipulative trading, or other misconduct.””It is extremely tempting to short these stocks, but unless you have huge liquid resources, please try to resist the temptation because these prices can go to unimaginable highs before they settle down to a reasonable valuation, and you may have to cover on the high point,” Interactive Brokers Chairman Thomas Peterffy said Monday on CNBC’s “Squawk Box.””On the long term, stocks always approach their fundamental values, which in this case is much, much lower,” Peterffy added.AMC took advantage of the massive rally last week, selling 20 million shares in two separate deals and generating around $800 million in cash. CEO Adam Aron has signaled he wants to sell up to 25 million more shares.— CNBC’s Kevin Stankiewicz contributed reporting.Enjoyed this article?For exclusive stock picks, investment ideas and CNBC global livestreamSign up for CNBC ProStart your free trial now More

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    Stocks making the biggest moves after hours: Stitch Fix, Marvell, Coupa and more

    In this articleKDPAMCBIIBCOUPMRVLSFIXThe Stitch Fix logo on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7.Tiffany Hagler-Geard | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell: Stitch Fix — Shares of Stitch Fix surged 15% in extended trading after the online styling service reported fiscal third-quarter results beating Wall Street expectations. The company posted a loss of 18 cents per share on revenue of $536 million. Analysts were expecting a loss of 27 cents per share on revenue of $511 million, according to Refinitiv. Stitch Fix reported 4.1 million active clients, up 20% year-over-year and higher than the previous quarter.Marvell Technology — Marvell shares traded 2.6% higher after hours following better-than-expected first-quarter earnings.Coupa Software — Shares of Coupa Software fell 7% in extended trading despite beating Wall Street expectations for the company’s first-quarter financial results. Coupa reported adjusted earnings of 7 cents per share, beating analysts’ expectations of a 19-cent loss per share, according to Refinitiv. The company posted revenue of $166.9 million, which topped Wall Street’s projection of $152.6 million.Biogen — Shares of Biogen dipped slightly in extended trading after closing 38% higher in the regular session. The FDA approved the company’s Alzheimer’s drug Monday, the first new medicine for the disease in nearly two decades.Keurig Dr Pepper — Shares of the company fell 2.3% in extended trading after it announced a secondary offering of 28 million shares on behalf of Mondelez International Holdings. The stock sale represents about 2% of KDP’s outstanding common stock, according to the company.AMC Entertainment — Shares of AMC added 3% in extended trading after the meme stock rallied another 14.8% in the regular session. The movie theater stock soared 83% last week amid speculative trading led by retail investors. More

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    AMC insider selling picks up as meme stock rises amid retail wave

    In this articleAMCInsider selling activity at AMC Entertainment ramped up like never before during the recent explosive rally driven by enthusiastic retail investors.A total of seven insiders at the movie theater chain have sold a portion of their stakes since May 28 when the latest leg up began, selling in a wide price range of $27.42 to $62.67, according to InsiderScore’s analysis of regulatory filings. The stock price has more than doubled since that day, last trading at $57.70 apiece.Six of them disclosed their sales on Friday after the market close, and one revealed at the end of May, according to InsiderScore.”Clearly, AMC insiders don’t want to miss out on the opportunity to cash in some stock-based compensation at valuations that few people could have imagined just months ago,” said Ben Silverman, director of research at InsiderScore.Zoom In IconArrows pointing outwardsA total of nine insiders have sold this quarter, and three cashed out in the first quarter, according to InsiderScore. That compares with no sellers in all of 2020 and just three from 2017 to 2019, InsiderScore said.Notably, CEO Adam Aron, who joined the company at the start of 2016, has never sold his AMC shares.AMC has gained more than 120% in June alone after a 160% advance in May, pushing its 2021 rally to over 2,600%. The stock has far surpassed its January high amid the GameStop trading mania, hitting an intraday record of $72.62 last week.Insiders are required to file their transactions in a company’s common stock as well as derivative securities with the Securities and Exchange Commission within two business days following the transaction date.Amid the massive rally last week, AMC managed to quickly sell 20 million shares in two separate deals, and generated around $800 million in cash. “Between those two transactions we raised over $800 million of cash, not to line my pocket or anybody who works at AMC, but to put that money in the treasury of AMC to strengthen AMC and let AMC do more good things, to grow the company,” Aron said in a YouTube video last week.Aron has signaled he wants to sell up to 25 million more shares as the company is near the limit of the number of shares outstanding its charter allows. From January to May, AMC raked in about $1.6 billion in cash from stock sales.The company has around 501 million shares outstanding and about 46,000 shares left for future issuance.— CNBC’s Sarah Whitten contributed to this story.Enjoyed this article?For exclusive stock picks, investment ideas and CNBC global livestreamSign up for CNBC ProStart your free trial now More

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    Five Below CEO says the discount retailer is well positioned to handle inflation

    In this articleFIVEFive Below CEO Joel Anderson told CNBC on Monday that the discount retailer is well positioned to handle inflationary pressures during the pandemic economic recovery.”As inflation emerges, we can approach it both ways: either with moving the top-line retail or else creating more value for our customers,” Anderson said in an interview on “Closing Bell.”The company’s relatively new category called Five Beyond — in which some products are for sale above $5 — represents one response to price pressures, Anderson said.”If you’d asked me that a couple years ago, I would have probably said, ‘You know, that’s a challenge.’ But since then, we’ve launched Five Beyond,” said Anderson, who has led the Philadelphia-based company since 2015. He’s also the former president and CEO of Walmart.com.Inflation is currently a key issue for the economy, as businesses develop responses to rising costs for some commodities and wage increases.Five Below has raised its minimum wage to attract workers, Anderson said. However, he said that in general, Five Below will be able to stand out to bargain-seeking shoppers in an inflationary environment.”Five Below has always been a value retailer,” he said. “And the last thing we do is try and raise our retails. So I think as inflation goes up, it gives us an opportunity to, actually, really increase the value that we bring to our customers.”The company reported quarterly results last week, with net sales for the period ending May 1 coming in at $598 million. That’s up 64% compared with the same quarter in 2019 and 198% compared with 2020, when Covid-related store closures significantly hampered sales.Shares of Five Below closed Monday’s session down 2.5% at $185.47. The stock is up roughly 6% so far in 2021 and 68.5% in the past 12 months. More

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    Stitch Fix shares soar as sales top estimates, styling service raises full-year outlook

    In this articleSFIXThe Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7.Tiffany Hagler-Geard | Bloomberg | Getty ImagesStitch Fix shares soared Monday after the online shopping and styling service reported a narrower-than-expected loss in its fiscal third quarter.Sales topped analysts’ estimates, driven by consumers refreshing their wardrobes for summer vacations and the office and looking for styles in new sizes.The stock was recently up around 15% in extended trading.Stitch Fix also raised its revenue outlook for the full year, after previously lowering it due to the uncertainty stemming from the Covid pandemic. It offered a better-than-expected sales outlook for its fiscal fourth quarter.President and incoming CEO Elizabeth Spaulding noted that as the apparel retail backdrop improves across the country, the company is building momentum. In its men’s business, for example, button-down shirts are trending and suit requests are back up. Stitch Fix said its tailored shop is outperforming its lounge selection.Here’s how Stitch Fix did during the period ended May 1 compared with what analysts were anticipating, using Refinitiv estimates:Loss per share: 18 cents vs. 27 cents expectedRevenue: $535.6 million vs. $511 million expectedStitch Fix’s loss narrowed to $18.8 million, or 18 cents per share, compared with a loss of $33.9 million, or 33 cents per share, a year earlier. That was better than the 27 cent loss expected by analysts.Revenue grew 44% to $535.6 million from $371.7 million a year earlier, topping estimates for $511 million.Its active client count grew 20% year over year to 4.1 million and was up 234,000 from the previous quarter. Stitch Fix defines active clients as people who have bought an item directly from its website in the preceding 52 weeks from the last day of the quarter.Revenue per active client came in at $481, down 3% from a year earlier but up 3% from the prior quarter.For fiscal 2021, Stitch Fix is now calling for revenue to be in the range of $2.07 billion to $2.08 billion, which would imply year-over-year growth of 20.9% to 21.5%. Earlier this year, it had lowered its annual sales forecast for growth of 18% to 20%. Analysts have been looking for year-over-year revenue growth of 19.1%.For the fourth quarter, it expects sales to be up 21.8% to 24% from a year earlier. Analysts had been looking for a 20.6% increase.The company is still working to improve the window of time it takes for it to receive orders of merchandise to its warehouses, which were elongated over the holiday season and have weighed on recent results. CFO Dan Jedda said Monday that the shipping windows have come back down to pre-holiday levels, but remain heightened compared with a year earlier.Before the end of its fiscal year, Stitch Fix is set to launch its direct-buy service, which allows customers to purchase items individually from its app, to the public. Currently, only subscribers can use the direct-buy service. Stitch Fix has said the offering is an evolution of its business that should help it to continue to grow sales and reach new users.Spaulding is set to succeed founder and CEO Katrina Lake on Aug. 1.As of market close Monday, Stitch Fix shares are down about 1% year to date. The company’s market cap is $6.2 billion.Find the full financial press release from Stitch Fix here. More

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    Kroger to hire 10,000 workers across its grocery brands

    In this articleKRA shopper holding an umbrella walks towards a Kroger Co. grocery store in Louisville, Kentucky, U.S., on Sunday, April 26, 2020.Stacie Scott | Bloomberg | Getty ImagesKroger announced Monday that it will hold a hiring event on Thursday to fill 10,000 jobs across its businesses.The event will offer virtual and in-store interviews for prospective staff in its retail, e-commerce, pharmacy, manufacturing and logistical operations. In addition to its namesake Kroger stores, the company operates brands that include Fred Meyer, Harris Teeter and Ralphs.The company has an average national wage of more than $15.50 per hour. In March, Kroger said it planned to invest $350 million to raise the average associate wage to $16 per hour. In a press release, Kroger added its benefits include a tuition reimbursement program, mental health counseling, and discounts on groceries, electronics and streaming services.Retailers have been raising wages in an increasingly competitive market for labor.Kroger has been hiring staff since the beginning of the year, but this is its first nationwide hybrid hiring event. The company added 100,000 employees during the Covid pandemic, but a Kroger spokesperson said many of those workers have since returned to their pre-pandemic employers.The grocer had 468,000 employees at the end of 2020, a figure the company says is similar what it had before the pandemic.Kroger’s stock is up nearly 23% since January. More