More stories

  • in

    A dog in France has monkeypox, worrying scientists that we won't be able to eradicate the virus if it spreads to more animals

    Historically, the monkeypox virus has jumped from animals to people in Africa.
    Some scientists worry as the human outbreak grows, monkeypox could spill from people into animals in the U.S., making the virus more difficult to eradicate.
    The probability of such an event is low, scientists say, but a more robust surveillance system for animals is needed to prepare for the possibility.

    Monkeypox virus, illustration.
    Thom Leach | Science Photo Library | Getty Images

    In 2003, 47 people across six Midwestern states caught monkeypox from pet prairie dogs that were infected after they were housed with rodents imported from Ghana, Africa.
    Today’s outbreak, which has already infected more than 14,100 people in the U.S. and more than 41,000 across the globe, is spreading mostly through close human contact among gay and bisexual men. But scientists reported the first presumed human-to-pet transmission in a dog in France this month, prompting U.S. and global health officials to step up warnings to ensure the virus doesn’t spread to other pets and animals. 

    The recommendation stems from concerns that monkeypox could spill into wildlife or rodent populations as the human outbreak grows, allowing the virus to pass back-and-forth between humans and animals and giving the virus a permanent foothold in countries where it hasn’t historically circulated. 
    Prior to the global outbreak this year, monkeypox spread primarily in remote parts of West and Central Africa where people caught the virus after exposure to infected animals. The 2003 outbreak, which was contained, was the first documented case of humans catching the virus outside Africa.
    The current global outbreak differs dramatically from past patterns of transmission. Monkeypox is now spreading almost entirely through close physical contact between people in major urban areas in the U.S., European nations and Brazil. 
    But the first presumed case of people infecting an animal in the current outbreak was reported in France this month. A pet dog tested positive for the virus after a couple in Paris fell ill with monkeypox and shared their bed with the animal. 

    CNBC Health & Science

    Read CNBC’s latest global health coverage:

    WHO officials have said a single incident of a pet catching the virus is not surprising or a cause for major concern, but there is a risk that monkeypox could start circulating in animals if people don’t know they can infect other species. 

    If monkeypox becomes established in animal populations outside Africa, the virus would have more opportunities to mutate, which carries the risk of higher transmissibility and severity. Animals could then potentially give the virus to people, increasing the risk of future outbreaks.
    “What we don’t want to see happen is disease moving from one species to the next and then remaining in that species,” said Dr. Mike Ryan, director of the WHO’s health emergencies program, said during a press conference in Geneva last week. “It’s through that process of one animal affecting the next and the next and the next that you see rapid evolution of the virus.”
    The Centers for Disease Control and Prevention has not received any reports of pets infected with monkeypox in the U.S., said Kristen Nordlund, an agency spokesperson. But the virus can spread from people to animals or from animals to people, according to the CDC. 
    “While we are still learning which species of animals can get monkeypox, we should assume any mammal can be infected with monkeypox virus,” Nordlund said. “We do not know if reptiles, amphibians, or birds can get monkeypox, but it is unlikely since these animals have not been found to be infected with viruses in the same family as monkeypox.”
    Dr. Rosamund Lewis, the WHO’s lead monkeypox expert, said it’s important to dispose of potentially contaminated waste properly to avoid the risk of rodents and other animals becoming infected when they rummage through garbage.
    “While these have been hypothetical risks all along, we believe that they are important enough that people should have information on how to protect their pets, as well as how to manage their waste, so that animals in general are not exposed to the monkeypox virus,” Lewis said.
    Ryan said that while vigilance is important, animals and pets do not represent a risk to people at the current time.
    “It’s important that we don’t allow these viruses to establish themselves in other animal populations,” Ryan said. “Single exposures or single infections in particular animals is not unexpected.”

    Rodents in Africa

    Although scientists have done some research on monkeypox in Africa, where it’s historically circulated, their work was limited due to a lack of funding. So scientists don’t know how many different species of animals can carry the virus and transmit it to humans.
    Scientists have only isolated monkeypox from wild animals a handful of times in Africa over the past 40 years. They included rope squirrels, target rats and giant pouched rats in the Democratic Republic of Congo, as well as two types of monkeys in Cote d’Ivoire. Rodents, not monkeys, are thought to be the host animal population in Africa, though the precise animal reservoir is unknown.
    Public health officials don’t know whether the types of animals in close proximity to people in urban settings in the U.S. — racoons, mice and rats — can pick up and transmit the virus. Some types of mice and rats can get monkeypox but not all species are susceptible, according to the CDC.
    “We know this is a virus that’s transmitted from rodents in West Africa,” said Dr. Peter Hotez, an infectious disease expert at Baylor College of Medicine in Texas. “Could rats or other rodents in urban environments mean that it gains a foothold there and it also becomes more of a permanent fixture — we don’t want that to happen,” he said.
    The CDC recommends that people who have monkeypox avoid contact with animals — pets, livestock, domestic animas and wildlife. If a pet becomes sick within 21 days of contact with someone who has monkeypox, the animal should be evaluated by a veterinarian.
    Waste contaminated with monkeypox should go into in a lined, dedicated trash can and shouldn’t be left outside because wildlife could potentially become exposed the virus, according to CDC.

    U.S. outbreak in 2003

    In the 2003 outbreak, the CDC was able to quickly administer vaccines and quarantine patients before the virus could spread farther. There were no cases of monkeypox spreading between people. The CDC then banned the importation of rodents from Africa.
    Containing the 2003 outbreak took 10,000 hours of work to trace the virus back to Gambian rats and other rodents imported from Ghana to an animal distributor in Texas, according to Marguerite Pappaioanou, a former CDC official who worked on the outbreak.
    The Food and Drug Administration banned the importation of all African rodents in the wake of the 2003 outbreak. The agency also prohibited the interstate distribution of prairie dogs and their release into the wild over concerns monkeypox could become established in wildlife populations.
    The U.S. Georgical Survey and Department of Agriculture subsequently trapped 200 wild animals in Wisconsin at sites close to where humans contracted monkeypox from pet prairie dogs. They did not find any evidence that the virus had spread into wild animals, and the FDA lifted the ban on distributing prairie dogs between states. It’s still illegal to import rodents from Africa.

    Wastewater worries

    Scientists in California detected monkeypox DNA in sewage samples this summer. New York is also conducting wastewater surveillance for the virus, according to the state health department, though results have not been publicly released yet. The wastewater findings in California have raised concern among some health experts that the virus could infect rodents through the sewage.
    “There is the risk because of the widespread nature of infections and the fact that it’s sewage and wastewater,” said Dr. James Lawler, an infectious disease expert at Global Center for Health Security at the University of Nebraska Medical Center. “That’s a concern, about getting into an animal population and having a zoonotic risk reservoir and honestly, if that’s the case that I think it’s game over for us.”
    But it’s not clear if live virus is present in wastewater. The study measured monkeypox DNA in sewage samples, not whether the virus was still infectious, according to Marlene Wolfe, a scientist at Emory University who is working on the project.
    Wastewater is treated in most urban areas so the probability of the virus surviving and replicating in such an environment is low, according to Amira Roess, a former official with the CDC’s Epidemiological Intelligence Service. Roess said garbage that contains contaminated materials such as bedsheets or towels likely poses a higher risk than wastewater.
    “There are wildlife species that rummage in your garbage and then they’re more likely to pick up virus that is able to replicate. “There’s a lot of ifs, but it happens,” said Roess, who is now a professor of epidemiology at George Mason University.

    Low probability

    Several steps would have to take place for the monkeypox virus to spill over from humans into animals and then spill back into people causing another outbreak, according to Richard Reithinger, an epidemiologist at RTI International.
    The virus would have to circulate in an animal population with a wide geographic distribution, but not cause so much mortality in the species that the train of transmission is snuffed out, Reithinger said. Humans would also need to have some level of regular contact with animals.
    “Each step has a certain probability. Once once you kind of add up all the probabilities of these steps, the probability actually becomes quite low,” Reithinger said.
    It’s also possible that monkeypox might be transmitting more efficiently among people in the current outbreak due to some sort of viral mutation, Roess said. If the virus has adapted to humans, it could be more difficult for people to give the disease to animals, she added. It also depends on what kind animal comes into contact with the virus, according to Pappaioanou.
    “All animals are not susceptible. We don’t even know which ones are,” said Pappaioanou, who is now an affiliate professor at the University of Washington.

    Better surveillance needed

    Although the risk of the virus becoming entrenched in a U.S. animal population and causing future human outbreaks is low, the U.S. needs a more robust surveillance system to prepare for such a possibility, according to Pappaioanou and Roess. There are major gaps in the ability of public health agencies to monitor animal populations for infectious diseases, the former CDC officials said.
    “It’s a very big gap. We don’t have a good surveillance system for humans,” Roess said. “For wildlife, it depends on who is interested in what pathogen and if they’re able to convince someone to fund surveillance. A lot of our surveillance is just really sporadic”
    Livestock such as cows, sheep and poultry are monitored by the Department of Agriculture, Pappaioanou said. But wildlife surveillance is underfunded and it takes a tremendous amount of work to monitor these animals for infectious disease, she said There’s no government agency that overseas the health of dogs and cats, she said. Local health departments may monitor rodents and have population control programs but this also requires funding and significant staffing, she added.
    “More and more people around the world are moving to cities,” Pappaioanou said. “What would it mean in a highly urbanized city to have a reservoir of infection? We don’t know the answer.”

    WATCH LIVEWATCH IN THE APP More

  • in

    Dick's Sporting Goods boosts 2022 outlook after second-quarter earnings top estimates

    Dick’s Sporting Goods reported second-quarter earnings and revenue that topped Wall Street estimates.
    The company boosted its full-year earnings per share guidance.
    It also raised the low end of its full-year comparable store sales guidance.

    Cars are seen parked in front of a Dick’s Sporting Goods store at Monroe Marketplace in Pennsylvania.
    Paul Weaver | SOPA Images | LightRocket | Getty Images

    Dick’s Sporting Goods on Tuesday reported quarterly earnings and revenue that topped analysts’ expectations and boosted its financial outlook for the year.
    The sporting goods retailer said it now expects comparable store sales for 2022 to decline between 6% to 2%. It had previously forecast the figure to be down between 8% and 2%, after its sales of sporting and outdoor equipment surged during the pandemic.

    Shares were up about 2% in pre-market trading.
    For the full year, Dick’s now expects adjusted earnings per share to be between $10 and $12. That’s up from its previous forecast of $9.15 and $11.70.
    Dick’s noted that its net sales for the quarter were up significantly from the same period in 2019. Executive Chairman Ed Stack said results show the company wasn’t just a beneficiary of higher sales during the pandemic, but reflect the structural changes it made years ago.
    Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

    Earnings per share: $3.68, adjusted, vs. $3.58 expected
    Revenue: $3.11 billion vs. $3.07 billion expected

    For the three months ended July 30, net sales fell 5% from a year ago while comparable store sales declined 5.1%.

    In an interview with CNBC, Stack noted the demand for Dick’s products in the “highs and lows of the economy” and cited the example of someone’s 10-year-old daughter needing bigger sneakers for soccer.
    “You don’t walk up to her, put your arm around her go, ‘Hey, honey, you know what? Put on your old cleats, curl up your toe and go play soccer.’ You go buy a new, a new pair of cleats,” he said.
    The company said that its inventory level was healthy and well-positioned for the back-to-school season.
    “We had some trailers that were backed up and our system got clogged up,” Stack told CNBC. “We’ve worked through the vast majority of that and it’ll be all cleaned up by the end of this month, maybe the second week of September.”
    −CNBC’s Courtney Reagan contributed to this report.

    WATCH LIVEWATCH IN THE APP More

  • in

    A sunken city and an Instagrammer's dream: Dubai's new water attractions tap into revenge tourism trend

    View from the Gulf

    Blatant one-upmanship and theatrical displays are part of the city’s DNA — and in an era of depressing international news, who can blame holidaymakers for wanting some out-of-this-world escapism?
    It has been a tale of dramatic downs and ups in the past couple of years for the emirate, nicely symbolized by the world’s deepest dive pool and the world’s highest infinity pool.
    No sector plummeted harder or faster when Covid-19 hit than travel, a pillar of the most powerful economies across the globe.

    The Deep Dive Dubai pool has been verified by Guinness World Records as the world’s deepest swimming pool
    Deep Dive Dubai

    DUBAI, United Arab Emirates — Aside from the year-round sun and a mammoth well-serviced international airport, Dubai keeps drawing in hordes of overseas visitors due to an unmatched flair for publicity bolstered by a “let’s have a go” approach to new construction.
    Blatant one-upmanship and theatrical displays are part of the city’s DNA — and in an era of depressing international news, who can blame holidaymakers for wanting some out-of-this-world escapism?

    And there are two new record-breaking destinations in Dubai offering just that.
    Those who love free-falling into mysterious watery terrains can now put their skills to the test at Deep Dive Dubai — the only facility in the world where you can dive to depths of 60 meters, which is 15 meters deeper than any other space, not to mention four times bigger.
    Located in Dubai’s Nad Al Sheba neighborhood, the Deep Dive Dubai pool has been verified by Guinness World Records as the world’s deepest swimming pool and holds 14 million liters of water, the equivalent of six Olympic-sized pools. To try it out you need to book in advance and it’s only open to those aged 10 years and above for the scuba.
    Built to resemble a vast sunken city, this eerie hole in the heart of the desert is equipped with 56 cameras to ensure visitor safety along with state-of-the-art lighting and sound systems.
    “By design, Deep Dive Dubai offers something truly unique for everyone and our team is committed to ensuring a memorable experience,” commented facility Director Jarrod Jablonski at the launch last year, himself a world record-holding cave diver.

    Dubai expat Gautam Kulkarni from India recently took the plunge at this unusual attraction and was suitably impressed.
    “The dive itself was very good — it’s amazing to step into a pool with normal depth and then suddenly have an entire abyss open up under you,” he told CNBC.
    He added that the only downside was the lack of marine life, but that it’s great for a one-time experience.

    Infinity pool

    Move back out into the dazzling Dubai sunlight and head 294 meters up into the sky and you find another Guinness World Record breaker — the outdoor infinity pool atop the lavish five-star Address Beach Resort in Jumeirah Beach Residence, the highest in the world.
    Jutting out of the 77th-floor, the pool (which also opened last year) is an Instagrammer’s fevered dream with incredible panoramic views of the city’s most popular landmarks such as Bluewaters Island, Palm Jumeirah, and the sail-shaped Burj Al Arab — although swimmers prone to vertigo should steer well clear of the edge with its breath-sucking drop.
    The wet surface area on the rooftop gives the appearance of a massive lake in the sky, while the space is also home to ZETA Seventy Seven, a chic Asian restaurant with a seafood-inspired menu.
    To ensure guests enjoy the serene vistas and VIP treatment, the floor is only open to those over the age of 21.

    The outdoor infinity pool atop the lavish five-star Address Beach Resort in Jumeirah Beach Residence.
    Address Beach Resort, Dubai

    “We’ve been coming to Dubai for years and it’s insane, the place never stops coming up with these mind-blowing sights — you think they can’t top something then they do,” Stuart Davids, a tourist from the U.K. enjoying Address hotel’s poolside cabanas told CNBC. 
    He added: “We’ve been to some of the best hotels in Dubai but this one is extra special — the insane views, the gorgeous infinity pool, the service, everything.”
    Address Beach Resort is part of a twin tower project developed by Al Ain Holding alongside the Address Beach Residences and consists of 217 hotel rooms and suites, 443 serviced apartments, and 478 residential apartments.
    These swanky pads are currently being snapped up in Dubai’s equally booming real estate market by the influx of wealthy individual’s that soared to 54,000 in June 2021 from 52,000 in December 2020, achieving a growth of 3.8%, according to research firm New World Wealth.

    Covid hit More

  • in

    $14.9M palatial estate in Connecticut priced to break local record

    The wealthy enclave attracts executives who want to be commuting distance from New York City, about 40 miles south.
    The estate has undergone numerous changes over the decades, with past owners making upgrades and dramatic expansions.

    Hidden behind a stone wall spanning 1,500 feet in one of Connecticut’s wealthiest neighborhoods is a palatial estate with a great room inspired by a Scottish castle. The brick-and-limestone residence, built in 1929, is the most expensive home for sale in New Canaan with a $14.9 million price tag.
    Prices in the wealthy enclave, about 40 miles northeast of New York City, have been on a steady a rise, according to an analysis by Jonathan Miller, president of real estate appraisal and consulting firm Miller Samuel. Still, the estate’s price tag is more than seven times the $1.9 million average New Canaan sale price in the second quarter, according to real estate firm Douglas Elliman.

    The private drive leads to lush landscaping and a fountain at the home’s main entry.
    Global Extreme

    The parlor of the main residence.
    Global Extreme

    Listing agent Danielle Malloy, of Nest Seekers International, told CNBC the neighborhood attracts high-level executives and that she’s confident the property’s sale price will smash the local record. That was set in 2014, when a 14,000-square-foot mansion on 52 acres sold for $14.3 million, according to public records.
    “It’s the crown jewel of New Canaan built with the highest quality materials that you can’t find these days,” said Malloy, “There’s nothing else like it.”

    The Gallery Hall is encased in iron-framed windows with limestone walls and floors made of Tunisian marble.
    Extreme Global

    Orchard’s End sits on a smaller lot than the mansion that set the current record, but delivers more living space. The meticulously manicured property spans over 6.2 acres and includes 25,000 square feet across three structures. The residence boasts 35 rooms, 12 bedrooms, 16 baths, a resort-sized pool and outdoor basket ball court.

    Back lawn view and pool area.
    Global Extreme

    Malloy told CNBC the estate has undergone changes over the decades, with past owners making significant upgrades and dramatic expansions. The main residence, originally designed by acclaimed architect William Tubby, has more than doubled in size and currently spans 18,000 square feet.

    The Great Room takes inspiration from a Scottish Castle.
    Global Extreme

    The home also now includes a great room inspired by Duart Castle, which is located on Scotland’s Isle of Mull and was featured in the 1999 movie “Entrapment” starring Sean Connery and Catherine Zeta-Jones.

    The view from the mezzanine balcony in the Great Room.
    Global Extreme

    The space has exposed beams that crisscross the 35-foot high ceiling, heated Tunisian marble floors, steel-framed windows and a mezzanine balcony.

    A portion of the estate’s seven-foot stone wall that spans 1,500 feet.
    Global Extreme

    “The mayor of Mexico City bought the property in the 80s and he built one of the largest stone mortar-less walls.”
    Malloy said the mayor constructed the stone barrier around the property that’s 7-feet high and 1,500-feet long for an additional layer of privacy and security.

    A circular staircase leads to the top of the home’s windowed turret.
    Global Extreme

    More recently, the estate’s current owners undertook a three-year, $6 million renovation that added even more living space, including a four-bedroom guest house, and the conversion of the estate’s old horse stables into a 5,000-square-foot carriage house.

    The exterior view of the old horse stables recently converted into a 5,000 sq ft wellness area.
    Global Extreme

    This newly renovated area includes what Malloy said the owner’s call a “she shed” − a female version of a man cave.

    The lounge and bar area inside the so-called She Shed.
    Global Extreme

    The so-called shed is a wellness-themed lounge area with its own tea and juice bar with seating for seven.

    The old horse stables now house an expansive yoga studio.
    Global Extreme

    The shed is connected to a giant yoga studio, weight-training gym and sauna.

    Global Extreme

    The latest owner’s round of additions also delivered a newly constructed kitchen, an even bigger primary bedroom suite and closet.

    Primary bedroom
    Global Extreme

    The primary bedroom’s ensuite bath.
    Global Extreme

    The third level is also devoted to children, with a large game room, another gym and a bunk room for sleepovers that sleeps six.

    The main residence’s second floor game room.
    Global Extreme

    An inner courtyard and dining area from above.
    Global Extreme

    According to Miller, the average price per square foot in the neighborhood hit $546 in the second quarter, up almost 22% from a year ago. Orchard’s End’s list price puts the estate at just under $600 per square foot.
    Real estate taxes on the property, which first hit the market in early 2022 at $16.9M, are about $86,000 a year, Malloy said.

    WATCH LIVEWATCH IN THE APP More

  • in

    Trump-linked SPAC warns decline in ex-president's popularity could hurt his social media company

    The special purpose acquisition company that agreed to take Trump Media and Technology Group public, warned that potential damage to ex-President Donald Trump’s popularity could hurt his firm.
    Digital World Acquisition Corp. set a meeting to vote on delaying the deadline for completing a merger with Trump Media and Technology Group.
    DWAC said it could liquidate if the merger isn’t consummated.

    The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022.
    Dado Ruvic | Reuters

    Digital World Acquisition Corp., the special purpose acquisition company that agreed to take Trump Media and Technology Group public, warned Monday that potential damage to former President Donald Trump’s popularity could hurt his firm.
    The warning came in a securities filing that set a Sept. 6 shareholder meeting to determine whether to delay the deadline for completing a merger with Trump’s firm, which owns the Truth Social app. DWAC also said it could liquidate if the merger isn’t consummated.

    The deadline is currently set at Sept. 8. The company looks to extend it by a year to Sept. 8, 2023.
    “If President Trump becomes less popular or there are further controversies that damage his credibility or the desire of people to use a platform associated with him, and from which he will derive financial benefit, TMTG’s results of operations, as well as the outcome of the proposed Business combination, could be adversely affected,” DWAC said in the filing.
    Trump is currently under multiple investigations, including those relating to the removal of records from the White House and the Jan. 6, 2021, Capitol riot. He launched Truth Social after he was banned from Twitter over his tweets on the day of the insurrection.
    DWAC said it is worried that the value of the deal could be affected by damage to the former president’s reputation.

    The filing also cited surveys that indicated demand for Truth Social might be limited. “According to The Hill, only 30% of people surveyed would use a social media site associated with President Trump,” the filing said. “In addition, according to a survey published in The New York Post, only 60% of Republicans would use such a platform.”

    Trump Media and Technology Group didn’t immediately respond for a request for comment on DWAC’s filing. A call to Patrick Orlando, CEO of DWAC, went to voicemail.
    DWAC, in pushing for the deadline extension, also cited the ongoing Securities and Exchange Commission and Justice Department investigations into its deal with Trump Media.
    “Our failure to obtain any required regulatory approvals in connection with the Business Combination or to resolve certain ongoing investigations within the requisite time period may require us to liquidate,” the filing said.
    DWAC delayed its earnings report last week.
    Shares of DWAC closed effectively flat Monday, but they’re down dramatically from their highs in October, when the Trump deal was announced.

    WATCH LIVEWATCH IN THE APP More

  • in

    'House of the Dragon' is largest HBO series premiere in history, with nearly 10 million viewers

    The first episode of “House of the Dragon” was seen by 9.986 million viewers across linear and HBO Max platform on Sunday night. This is the largest audience of any new original series in the history of HBO.
    The 10-episode series, which is being released weekly, tells the story of the Targaryen civil war that took place about 200 years before the events portrayed in “Game of Thrones.”
    The stakes are high for the prequel series. It arrives as newly minted CEO David Zaslav is looking for fat to trim. Cost-cutting measures have become status quo at the recently merged company including layoffs and content eliminations from HBO Max.

    Milly Alcock as Rhaenyra Targaryen in HBO’s “House of the Dragon,” a prequel to “Game of Thrones.”
    Warner Bros. Discovery

    HBO’s “House of the Dragon” had some pretty big shoes to fill, following in the footsteps of the mega hit “Game of Thrones.” It seems, fans of the high fantasy series were at least intrigued enough to settle in to watch the first episode of the series, leading to HBO’s biggest series premiere in its history.
    On Monday, Warner Bros. Discovery revealed that 9.986 million viewers across linear and HBO Max platforms tuned in to watch the first episode of the prequel series Sunday night. This is the largest audience of any new original series in the history of HBO, the company said.

    The company said that Sunday night viewership for a HBO series typically represents around 20% to 40% of the show’s total audience.

    “It was wonderful to see millions of ‘Game of Thrones’ fans return with us to Westeros last night,” said Casey Bloys, chief content officer for HBO and HBO Max.
    “House of the Dragon” tells the story of the Targaryen civil war that took place about 200 years before the events portrayed in “Game of Thrones.” It is based on George R.R. Martin’s novel “Fire and Blood.” Unlike Martin’s other books in the “Song of Ice and Fire” series, this one features an omniscient narrator who documents the histories based on collected accounts of events. In some cases, these stories contradict each other and there are multiple versions of events.
    The stakes are high for “House of the Dragon,” which arrived on HBO and HBO Max as newly minted CEO David Zaslav is looking for fat to trim. Cost-cutting measures have become status quo at the recently merged company including layoffs and content eliminations from HBO Max.
    As Warner Bros. Discovery seeks to save money, it’s also looking to consolidate its streaming services, something that will be expensive and time-consuming.

    “House of the Dragon,” only the second entrant in its Game of Thrones franchise, has a lot to prove, and to live up to. The final season of “Game of Thrones” left a sour taste in many fans’ mouths, as showrunners wrote beyond the events in the material created by author Martin, who has yet to finish the story in his books.
    “House of the Dragon” holds an 83% “Fresh” rating on Rotten Tomatoes from 413 reviews, as of Monday afternoon. For comparison, the first season of “Game of Thrones” released in 2011 had a 90% “Fresh” rating. In fact, every season except the final season had a score above 90%. Season eight generated a 55% rating.
    Analysts, investors and, most importantly, Warner Bros. Discovery executives will be keenly watching “House of the Dragon’s” viewership metrics going forward to see if it can sustain momentum over the course of the 10-episode series.
    Disclosure: Comcast is the parent company of NBCUniversal and CNBC. Rotten Tomatoes is owned by NBCUniversal.

    WATCH LIVEWATCH IN THE APP More

  • in

    Cramer's game plan: This week is all about Powell, but don't overlook any great earnings reports

    Monday – Friday, 6:00 – 7:00 PM ET

    Federal Reserve Chair Jerome Powell’s speech later this week is the most important event for the market, CNBC’s Jim Cramer said Monday.
    However, the “Mad Money” host said investors should not ignore the earnings calendar because great reports could be ahead.

    Wall Street is collectively bracing for Federal Reserve Chair Jerome Powell’s speech later this week, CNBC’s Jim Cramer said Monday after the major U.S. stock indexes tumbled.
    Powell’s address — set for 10 a.m. ET Friday as part of the Fed’s annual Jackson Hole symposium — is by far the biggest event on the calendar, according to the “Mad Money” host. The reason is investors are trying to gauge how hawkish the U.S. central bank may be in the coming months, and the Fed chief’s commentary is expected to offer clues on the matter.

    While Friday’s speech is highly important to the market, Cramer stressed that he’s not ignoring corporate earnings and the economic insights they offer. He said reports last week from the likes of Cisco Systems and Target have been far better than feared, and he’s keeping his eye on many more this week.
    Here is what Cramer is watching, with all earnings and revenue estimates compiled by FactSet:

    Tuesday: Macy’s, Dick’s Sporting Goods, Toll Brothers and Intuit

    Macy’s

    Q2 earnings before the bell; conference call scheduled for 8 a.m. ET Tuesday
    Projected EPS: 86 cents
    Projected sales: $5.49 billion

    Dick’s Sporting Goods

    Q2 earnings before the open; conference call scheduled for 10 a.m. ET Tuesday
    Projected EPS: $3.59
    Projected revenue: $3.07 billion

    Toll Brothers

    Q3 earnings release after the close; conference call set for 8:30 a.m. ET Wednesday
    Projected EPS: $2.30
    Projected revenue: $2.51 billion

    “I bet Macy’s has a decent story to tell about the right clothes at the right time. Dick’s is selling all the best sporting goods at good prices, and Toll Brothers is only making homes that it can reap huge profits on. All three should have gotten much better on that supply chain front, too, versus when they spoke last,” Cramer said.
    Intuit

    Q4 earnings release after the close; conference call at 4:30 p.m. ET Tuesday
    Projected EPS: 98 cents
    Projected sales $2.34 billion

    Cramer said he’s expecting a “terrific quarter” from Intuit, driven by “good growth in tax returns and also all the things they do for small business.”

    Wednesday: Nvidia, Salesforce, Snowflake, Splunk and Box

    Nvidia

    Q2 earnings after the bell; conference call slated for 5 p.m. ET
    Projected EPS: 50 cents
    Projected sales: $6.7 billion

    Salesforce

    Q2 earnings after the close; conference call set for 5 p.m. ET
    Projected EPS: $1.03
    Projected revenue: $7.69 billion

    “Nvidia preannounced and missed not that long ago versus an already-lowered forecast. The same thing could happen again — rough time for these chips,” said Cramer, whose Charitable Trust owns both Nvidia and Salesforce shares. “I think Salesforce will complain about the strong dollar again, but don’t forget that it does a ton of business at Dreamforce and that conference is back in person this September.”
    Snowflake

    Q2 2023 earnings release after the close; conference call set for 5 p.m. ET
    Projected EPS: 7 cents
    Projected revenue: $721 million

    Splunk

    Q2 2023 earnings after the bell; conference call scheduled for 4:30 p.m. ET
    Projected EPS: loss of 36 cents
    Projected sales: $749 million

    Box

    Q2 2023 earnings after the close; conference call set for 5 p.m. ET
    Projected EPS: 27 cents
    Projected revenue: $245 million

    “There are lots of other software companies reporting that people are worried about, like Snowflake, Splunk and Box. I think they’re doing fine, but it just might not matter because of this general malaise” in the market, Cramer said.

    Thursday: Dollar General, Dollar Tree, Ulta Beauty, Gap, Affirm, Dell and Workday

    Dollar General

    Q2 earnings before the open; conference call set for 10 a.m. ET
    Projected EPS: $2.94
    Projected sales: $9.4 billion

    Dollar Tree

    Q2 earnings before the bell; conference call slated for 9 a.m. ET
    Projected EPS: $1.60
    Projected revenue: $6.79 billion

    Dollar General and Dollar Tree should “please the market to no end because investors have decided that we’re headed into a recession and the hedge fund playbook says you have to own one or both of these two stocks” in that situation, Cramer said. “I don’t like mindlessly following the playbook, but it’s not wrong here. My preferred one, by the way, is Dollar General if they have the merchandise.”
    Ulta Beauty

    Q2 earnings release after the close; conference call set for 4:30 p.m. ET
    Projected EPS: $4.95
    Projected sales: $2.21 billion

    “Both Estee Lauder and Target, which has embedded Ultas [in some stores], raved about how the chain’s doing. I think now we’re in a mask-off world, which is great for skin care. Ulta will shine,” Cramer said.
    Gap Inc.

    Q2 earnings after the bell; conference call scheduled for 5 p.m. ET
    Projected EPS: Loss of 5 cents
    Projected sales: $3.82 billion

    Affirm

    Q4 earnings after the close; conference call set for 5 p.m. ET
    Projected EPS: Loss of 62 cents
    Projected revenue: $355 million

    Dell Technologies

    Q2 2023 earnings release after the bell; conference call scheduled for 5:30 p.m. ET
    Projected EPS: $1.79
    Projected sales: $26.87 billion

    Gap, Affirm and Dell all fall into what Cramer called the “troublesome” reports category for their own reasons.
    “Gap could have still one more difficult quarter,” he said. “I’m not sure how good Affirm will be given how the market has turned against buy now, pay later. I think CEO Max Levchin will try to spin a good yarn, but it’s an awfully hard tape to pull that off in. Then there’s Dell. I bet it’s gonna report a solid number that will actually help tech, something we very well need by the time we get to [Thursday].”
    Workday

    Q2 2023 earnings after the close; conference call set for 4:30 p.m. ET
    Projected EPS: 79 cents
    Projected sales: $1.52 billion

    “I think Workday had a good quarter, and maybe because it’s on the eve of Jackson Hole, it will be as irrelevant as [Monday’s] sell-off,” Cramer said.

    Friday: Powell speech

    “Wall Street is starting to have less confidence in the idea that the Fed will soon pivot to a more dovish posture. I think Jay Powell can afford to be a little less ruthless with the rate hikes here, but the market clearly disagrees,” Cramer said. “We’ll find out who’s right on Friday — we need to slog through the whole week to get to the Fed’s guillotine. But even if the guillotine blade falls, we can ride through the turbulence and do some buying on the way down after this incredibly difficult two-day sell-off.”
    Disclosure: Cramer’s Charitable Trust owns shares of NVDA, CRM and CSCO.

    Jim Cramer’s Guide to Investing

    Click here to download Jim Cramer’s Guide to Investing at no cost to help you build long-term wealth and invest smarter.

    Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

    WATCH LIVEWATCH IN THE APP More

  • in

    Trump PAC paid nearly $1 million to defense lawyers in July alone as Georgia and New York probes heated up

    Former President Donald Trump’s political action committee paid nearly $1 million to civil and criminal defense attorneys in July alone.
    The expenditures came as investigations into him and the Trump Organization heated up.
    Trump’s legal bills could rise even more this month on the heels of an FBI raid of his residence at the Mar-a-Lago resort in Florida.
    The Justice Department is investigating possible crimes in Trump’s removal of presidential documents from the White House when he left office in January 2021.
    Trump also faces a criminal probe in Georgia related to efforts by him and his allies to overturn the 2020 election win by President Joe Biden.

    Former President Donald Trump speaks at a ‘Save America’ rally in support of Arizona GOP candidates on July 22, 2022 in Prescott Valley, Arizona.
    Mario Tama | Getty Images

    Former President Donald Trump’s political action committee, Save America, paid nearly $1 million to civil and criminal defense attorneys in July alone as investigations into him and the Trump Organization heated up, a new Federal Elections Commission filing by the PAC reveals.
    And Trump’s legal bills could rise even more this month and into the future on the heels of an FBI raid of his residence at the Mar-a-Lago resort in Florida, as part of a criminal investigation into his removal of presidential documents from the White House when he left office in January 2021.

    Trump also faces a criminal probe in Georgia, where a special grand jury is obtaining testimony and evidence related to efforts by him and his allies to overturn that state’s 2020 election win by President Joe Biden.
    Trump’s Save America political action committee has become the former president’s leading PAC, keeping White House veterans such as Dan Scavino and Lynne Patton on the payroll.
    Save America, which has more than $99 million on hand according to the FEC filing, has been asking donors for money it says will be used to defend conservative values and battle Biden.
    That money is also being used to pay Trump’s legal bills, which is allowed under the lenient rules governing the use of PAC funds.
    A spokesperson for Trump did not immediately respond to a request for comment on the disbursements.

    The FEC filing this weekend shows that the PAC paid 12 different law firms and companies $963,682 for legal services in July.
    That is more than $400,000 in legal expenditures for the PAC in June, and almost $200,000 more than what the organization spent on such services in April.
    One of those law firms, Habba Madaio & Associates, received more than $486,000 in payments from the PAC in July, according to the filing.
    Alina Habba, a partner in that small New Jersey firm, is the lead attorney representing the Trump Organization in a civil investigation by the office of New York Attorney General Letitia James.
    James is probing allegations that the Trump Organization improperly manipulated the stated valuations of various real estate assets to obtain financial benefits, such as more favorable loan and insurance terms, and tax breaks.
    Trump earlier this month invoked his Fifth Amendment right against self-incrimination more than 440 times as he refused to answer questions from James’ lawyers at a court-mandated deposition as part of that investigation. Two of his adult children, Donald Trump Jr. and Ivanka Trump, were deposed by James’ team in July.
    Save America paid a veteran Trump lawyer, the criminal defense attorney Alan Futerfas, $184,743 in July, according to the FEC filing.
    Futerfas has represented Donald Jr. and Ivanka in James’ probe. He also represents the Trump Organization in its criminal prosecution by the Manhattan District Attorney’s Office.
    The company, which has denied any wrongdoing, is set in that case to go on trial this fall on charges related to its alleged 15-year scheme to avoid the payment of taxes on compensation for top officials in the Trump Organization.
    On Thursday, the company’s former chief financial officer, Allen Weisselberg, pleaded guilty to multiple tax fraud charges in the case and agreed to testify against the Trump Organization at trial. Weisselberg will serve five months in jail and pay more than $2 million in taxes as part of that plea deal.
    Save America’s third-highest legal-related payment last month was $100,000 to Drew Findling, an Atlanta criminal defense attorney who is best known for representing hip-hop and R&B artists, including Cardi B and Faith Evans. Findling also once served as president of the National Association of Criminal Defense Lawyers.
    Findling, who once called Trump “racist” in a Twitter post, was hired to represent the ex-president for the criminal probe by Fulton County DA Fani Willis into efforts to overturn Georgia’s 2020 presidential election.
    Among other actions, Willis is eyeing a Jan. 2, 2021, phone call Trump made to Georgia Secretary of State Brad Raffensperger, the state’s top election official. In that call, Trump urged Raffensperger to “find 11,780 votes” so that Biden’s victory could be reversed.
    Trump has denied any wrongdoing in Georgia, and called Willis’ probe, like those of James and the Manhattan DA, a “witch hunt.”
    Trump’s former personal lawyer Rudy Giuliani, who led the efforts to overturn Biden’s victory, has been named a target of Wallis’ investigation.
    Giuliani on Wednesday appeared for more than six hours before the special grand jury in Atlanta that is collecting testimony behind closed doors in that probe.

    WATCH LIVEWATCH IN THE APP More