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    Restaurant Brands International earnings top estimates, fueled by stronger Tim Hortons, Burger King sales

    Restaurant Brands International beat Wall Street’s estimates for its second-quarter earnings and revenue.
    Burger King and Tim Hortons fueled the company’s global same-store sales growth of 9%.
    But in the U.S., Burger King reported flat same-store sales.

    A sign is posted in front of a Burger King restaurant on February 15, 2022 in Daly City, California.
    Justin Sullivan | Getty Images

    Restaurant Brands International on Thursday reported quarterly earnings and revenue that topped Wall Street’s expectations, fueled by international sales growth at Burger King and the recovery of Tim Hortons’ Canadian locations.
    In the U.S., the company said same-store sales were flat at Burger King and Popeyes.

    Shares of the company were roughly flat in premarket trading.
    Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

    Earnings per share: 82 cents adjusted vs. 73 cents expected
    Revenue: $1.64 billion vs. $1.57 billion expected

    Restaurant Brands reported second-quarter net income attributable to shareholders of $236 million, or 76 cents per share, down from $259 million, or 84 cents per share, a year earlier.
    Excluding costs related to its acquisition of Firehouse Subs and other items, the company earned 82 cents per share.
    Net sales rose 14% to $1.64 billion. Global same-store sales across the company’s portfolio increased 9% in the quarter, fueled by the performance of Tim Hortons and Burger King.

    Tim Hortons reported same-store sales growth of 12.2%, beating StreetAccount estimates of 8%. The coffee chain’s Canadian same-store sales increased 14.2% in the quarter. Tims, which accounts for about 60% of Restaurant Brands’ revenue, has taken longer to bounce back from the pandemic, largely because of its home market’s tougher restrictions.
    Burger King’s same-store sales increased 10% in the quarter, topping Wall Street’s expectations of 3.4%. Outside the U.S., same-store sales climbed 18.4%. But its home market’s same-store sales were flat. Restaurant Brands executives are planning to share more details on its turnaround strategy for Burger King’s U.S. restaurants in early September.
    Popeyes Louisiana Kitchen reported same-store sales growth of 1.4%, beating estimates of 0.3%. Like Burger King, Popeyes reported flat same-store sales in the U.S. The fried chicken chain has seen its growth lag in recent quarters as it faces tough comparisons to the earlier days of the pandemic, when its chicken sandwich fueled soaring sales.
    Firehouse Subs, the newest addition to Restaurant Brands’ portfolio, saw its same-store sales fall 1.4% in the quarter.
    Read the full earnings report here.

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    UAE hospital group Burjeel posts record full-year revenues ahead of a potential IPO

    UAE-based hospital group Burjeel Holdings on Thursday published basic financial results ahead of a potential public offering as soon as this year.
    Burjeel confirmed it has appointed advisors, including JP Morgan, to run the potential listing but a final decision has not been made.

    Talk of a potential listing for Burjeel Holdings comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year.
    Bloomberg | Bloomberg | Getty Images

    DUBAI, United Arab Emirates — Indian billionaire Shamsheer Vayalil is accelerating plans to take Burjeel Holdings public after the Emirates-based hospital group posted record full-year revenues and profit.
    Burjeel Holdings, which operates 16 hospitals, 23 medical centers and 15 pharmacies in the UAE and Oman, reported record full-year 2021 revenue of 3.35 billion UAE dirhams ($912m) and a profit for the year of 234 million UAE dirhams, according to a statement released Thursday.

    Burjeel said it reported EBITDA (earnings before interest, taxes, depreciation, and amortization) of 779 million UAE dirhams in the 12 months through to Dec. 31 last year.
    The figures, audited by EY, offer the first look into the performance of the hospital group wholly owned by Vayalil — a radiologist who started with a single hospital in 2007.
    Burjeel, a spinoff of his VPS Healthcare business, now employs more than 1,200 doctors and its portfolio of assets includes Burjeel Medical City in Abu Dhabi, one of the largest private hospitals in the country.
    “We are looking at the next phase of growth,” Vayalil told CNBC as the potential listing plans take shape.
    Burjeel has appointed JP Morgan, Emirates NBD, EFG-Hermes, and Dubai Islamic Bank as joint global coordinators for the listing, possibly on the Abu Dhabi bourse, as soon as this year.

    Burjeel said discussions about a transaction were ongoing and details on the size of the offer and valuation are under review. A final decision has not been made.

    Health check

    Any listing will be a significant test of investor appetite in the sector following the collapse of NMC Health, once touted as the largest private healthcare company in the UAE. NMC was the first company from Abu Dhabi to list on the London Stock Exchange, but delisted in April 2020 and restructured after an alleged fraud that revealed billions in undisclosed debts.
    NMC administrators took legal action against EY for alleged negligence in auditing the business before the collapse. EY denies any wrongdoing.
    Talk of a potential listing comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year. A Burjeel Holdings listing, if successful, would mark a rare milestone as the first privately held business to go public in the recent government listing wave.
    “The macroeconomics for us are right, and unless something changes drastically that is not in our hands, we feel very positive about what we are doing, and we are confident that our story is right,” Vayalil said.

    Targeting scale

    “Healthcare is a basic need, and that need is going to grow,” Vayalil said, describing Burjeel Holdings as “fit for scale” with operations targeting several socio-economic demographics across its five brands, including Burjeel Hospitals, Medeor Hospital, LLH Hospital, Lifecare Hospital, and Tajmeel — a medical center operator.
    Vayalil said he plans to focus on service expansion in the UAE, where Burjeel already has a 17% inpatient market share, and would also target what he sees as growing demand for medical tourism in the country.
    “What we have to build is more trust for people to believe that this place can offer what is available anywhere in the world,” Vayalil said. “If we can stop or reduce people traveling about for treatment, that is one parameter that I focus on,” he added.

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    Adidas boss says LIV Golf a 'normal evolution,' wants to focus on player partnerships

    LIV is being bankrolled by Saudi Arabia’s sovereign wealth fund, and critics accuse the series of serving to enhance the kingdom’s image despite persistent concerns about human rights violations.
    Speaking to CNBC’s “Squawk Box Europe” on Thursday, CEO Kasper Rorsted said no decision had yet been made on whether Adidas would sponsor a team in the LIV series, but that the company wants to “remain a sponsor of the individual.”

    Phil Mickelson of the U.S. during the inaugural LIV Golf Invitational at the Centurion Club, Hemel Hempstead, St Albans, Britain, June 8, 2022
    Paul Childs | Action Images via Reuters

    Adidas CEO Kasper Rorsted believes the controversial Saudi Arabia-backed LIV Golf series is part of a “normal evolution” of the sport and said the German sportswear giant will continue to focus on partnerships with individual players.
    The PGA Tour has suspended many of its big names over their participation in the breakaway competition, which is in its inaugural season and has caused friction throughout the golfing world after attracting players with enormous fees.

    LIV is being bankrolled by Saudi Arabia’s sovereign wealth fund, and critics accuse the series of serving to enhance the kingdom’s image despite persistent concerns about human rights violations and potential ties to 9/11 plotters.
    The PGA Tour now faces an antitrust lawsuit from 11 players who joined the LIV series, including Phil Mickelson and Ian Poulter, over their suspension from the traditional North American tour.
    Golfing legend and 15-time major champion Tiger Woods turned down an offer in the region of $700 million to $800 million to join LIV Golf, its CEO revealed on Monday, having voiced his disapproval of the series at last month’s Open Championship.

    Speaking to CNBC’s “Squawk Box Europe” on Thursday following Adidas’ quarterly earnings report, Rorsted said no decision had yet been made on whether the company would sponsor a team in the LIV series.
    Asked for his opinion on the rebel tour, he said: “We think it is a normal evolution that is going on, and eventually it is the bodies who need to decide what they do. We have the same conversation when you look upon the Champions League or the World Cup with UEFA or FIFA.”

    Rorsted added that Adidas wants to “remain a sponsor of the individual.”
    “We have a very strong point of view of the players, and in essence, we want to make certain that we partner with the best player — we think that is how easy that is.”
    Adidas on Thursday posted a 28% year-on-year decline in operating profit for the second quarter, as a suspension of business in Russia, higher supply chain costs and Covid-19 lockdowns in China dented earnings despite continued strength in North America.

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    Charts suggest now is the perfect time to buy gold, Jim Cramer says

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

    CNBC’s Jim Cramer on Wednesday told investors that gold is poised to rally, making now an optimal time for investors to pounce.
    “The charts, as interpreted by the legendary Larry Williams, suggest that the general public’s giving up on gold en masse,” the “Mad Money” host said.

    CNBC’s Jim Cramer on Wednesday told investors that gold is poised to rally, making now an optimal time for investors to pounce.
    “The charts, as interpreted by the legendary Larry Williams, suggest that the general public’s giving up on gold en masse and he thinks that that makes it the perfect entry time to do some buying,” the “Mad Money” host said.

    Gold futures fell on Wednesday, facing pressure from a stronger U.S. dollar and Treasury yields after Federal Reserve leaders’ hawkish comments on inflation the day before took metals lower.
    Gold is considered a safe investment and often attracts investors during periods of economic and geopolitical turmoil.
    Cramer began his explanation of Williams’ analysis by examining the weekly action of gold going back to 2014, paired with the Commodity Futures Trading Commission’s Commitments of Traders report data.

    Arrows pointing outwards

    The CFTC tracks futures positions of small speculators, large speculators like money managers and commercial hedgers that include companies that work with the commodity.
    When small speculators get too bullish on gold, it’s often a sign that it’s about to peak, according to Williams. Conversely, gold tends to be near a bottom when small speculators get too bearish.

    The Commitments of Traders data, at the bottom of the chart, reveals that small speculators are in their smallest long position since May 2019 – right before there was a major gold rally. Also worth noting is that small speculators were in their largest net long position in four years during gold’s recent peak in March.

    Stock picks and investing trends from CNBC Pro:

    While this doesn’t mean investors should always do the opposite of what small speculators are doing, this is a sign that gold could gain soon, according to Cramer.
    “That would be too glib, but he points out that in the last 9 years, whenever their net long position in gold has been this low, the actual metal has rallied. And the best-selling points all came at moments when they had large long positions,” Cramer said.
    For more analysis, watch Cramer’s full explanation in the video below.

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    Cramer's lightning round: Canoo is not a buy

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

    It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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    MannKind Corp: “No one ever likes me to say anything bad about Mannkind. … What happens if it’s not a good company? Does that matter at all? To me it does, therefore I say, sell, sell, sell.”

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    Canoo Inc: “They just lose money. We’re done with those stocks that just lose money.”

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    Trade Desk Inc: “I think [CEO] Jeff Green is terrific, but the fact is, the overvalued tech stocks are not where to be.”

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    Community Bank System Inc: “I like it very much. I think you should own it right here, right now.”

    Disclosure: Cramer’s Charitable Trust owns shares of Ford.

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    China, Cairo, Italy: The top ‘travel-inspired’ baby names in the U.S. and the UK

    Baby Emma, David or Elizabeth? Not for American parents Caitlin and Luke McNeal.
    Rather than naming their children after grandparents, biblical figures or the British monarchy, the couple chose the names of places that hold meaningful travel memories for them.

    “Kinsale was when we lived in Ireland, and we vacationed in Kinsale and fell in love with it,” said Caitlin. “Keeneland is from Kentucky, the first place we ever vacationed together to watch the horse races.”
    And lastly there’s Sabi — “from the Sabi Sands in South Africa, where we went on our first solo vacay without Kinsale.”  
    The McNeals are part of a growing trend of choosing baby names based on travel destinations.

    The McNeal family — Keeneland, Luke, Sabi, Caitlin and Kinsale.
    Source: Caitlin McNeal

    The popularity of “travel-inspired” names increased 14% between 2000 and 2020, according a study by the luggage storage app Bounce. The company compared a short list of destination names and travel-related words with data from the U.S. Census Bureau and the U.K.’s Office for National Statistics, it said.
    The results show overlap in baby name choices in both countries. However, the trend of naming children after countries and cities is more pronounced in the United States than the United Kingdom, even after accounting for differences in population sizes, the study shows.

    Most popular ‘travel-related’ baby names

    Preston, Israel, Phoenix and Orlando appear on both lists, yet Preston — which means priest’s town — is the most popular overall.  
    The baby website The Bump calls the name “old-fashioned and rather quirky … Though some may see it as a reserved title for the wealthy, Preston is the name place of a Northern English town once known for its role in the industrial revolution.”
    American parents of baby boys tended to prefer domestic city names, while British parents showed a proclivity to look abroad, with names like Milan, Orlando and Rome topping their list.

    Sydney made the “top 10” lists for baby girl names in both the U.S. and the U.K., but is far more popular with American parents. It’s the only name to have been chosen more than 100,000 times in the 20-year period analyzed in the study.
    However, Sydney’s popularity is dwindling in the United States. After peaking in 2002, the name fell from the 23rd most popular name that year to 249th place in 2021, according to the U.S. Social Security Administration.

    Historically, baby names have been inspired by literary characters, biblical figures and the British monarchy. Now, there’s a growing trend to add travel destinations to the list.
    Source: Ria Hoban

    London also made the top 10 lists for American baby names — for both boys and girls — but may be a bit too close to home for British parents. It was chosen only 220 times in the U.K. from 2000 to 2020, compared with 44,556 times in the U.S., according to the study.
    Of all names in the study, Atlas rose the most in popularity, according to Cody Candee, CEO of Bounce. There were only eight babies named Atlas in 2000, but nearly 2,175 in 2020 — an increase of more than 27,000%, he said.
    “This may be due to parents favoring more unique and meaningful names, with Atlas originating from Greek mythology and meaning ‘to endure,'” he said.
    “On the other hand, there are a few names that have decreased in popularity,” he added. “In fact, there were 11 that disappeared completely, the biggest of which was Montreal which went from 23 to 0.”

    Baby names that match country names

    Ria and Connor Hoban with their children, (from left) Bruno, Joaquin, Bode and India.
    Source: Ria Hoban

    “Indus is female for river,” said Ria Hoban. “I had my elements read by chance during a night out when I found out I was pregnant, and I was told that I was a water element.”
    “In addition, Connor and I honeymooned in India — Delhi, north and south Goa, and Rajasthan, and I have always been mystified by the region. I’ve also always loved the regale of the name and [I’m] a fan of India Hick’s design,” she said, referencing the British designer and relative of the British royal family.
    In both the U.S. and the U.K., the trend of naming babies after countries is far more common for daughters. Except for Israel, Trinidad and Cuba, the names on both lists were either exclusively or far more popular choices for girls.

    Baby names that match city names

    Though London, Kingston (the name of singers Gwen Stefani and Gavin Rossdale’s oldest son) and Paris dominate the lists, one name is noticeably absent from this list: Brooklyn.
    That’s because the study didn’t include names of suburbs or boroughs, said Candee.
    The popularity of Brooklyn skyrocketed after Victoria and David Beckham chose it for their firstborn son in 1999, said Candee.
    If the name was included, Brooklyn would be the “second most popular travel-inspired name for girls in the USA, with 75,948 girls named Brooklyn over the last 20 years,” he said. However, the name is less popular boys, he said — it was chosen just 1,412 times for boys in the U.S. during the same period.
    Candee also said that several names were excluded from the analysis for being too commonly used to be inspired by travel. These names include Jordan, Madison, Austin and Charlotte, he said.

    It’s unknown to what extent other names were inspired by travel or some other association parents may have made with the names.
    One example is Hamilton. Though there are towns and cities named Hamilton in Canada, New Zealand, the U.K. and the U.S., the popular Broadway play “Hamilton” or the Formula One driver Lewis Hamilton may have inspired some parents to choose the name for their children.
    Similarly, it’s unknown to what extent parents who named their babies Paris were inspired by the French capital, the Hilton socialite or Shakespeare’s “Romeo and Juliet” — or something else entirely. More

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    Jim Cramer says Congress’s spending bills could worsen inflation, but he’s remaining bullish

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

    CNBC’s Jim Cramer on Wednesday said that Congress’s two behemoth spending bills have him worried about inflation’s trajectory.
    “I’m still a bull — I’ve felt bullish since June when I saw commodities were going in the right direction. And I’d be very confident about wage inflation, too, if not for Congress,” the “Mad Money” host said.

    CNBC’s Jim Cramer on Wednesday said that Congress’s two behemoth spending bills have him worried about inflation’s trajectory.
    “I’m still a bull — I’ve felt bullish since June when I saw commodities were going in the right direction. And I’d be very confident about wage inflation, too, if not for Congress,” the “Mad Money” host said.

    “If the re-branded stimulus bill doesn’t pass, we’ve got nothing to worry about, but if it does, we can only hope that it takes years and years for the government to put that money to work,” he added, referring to the Inflation Reduction Act of 2022.
    The bill represents a move from Democrats to reform the tax code, battle climate change and reduce health care costs. The bill, which is a revival of President Joe Biden’s Build Back Better bill, will invest over $400 billion and reduce the deficit by $300 billion over a decade-long period.
    Cramer said that he’s also worried about how the CHIPS and Science Act of 2022 could heighten inflation, stating that its higher-than-expected price tag raises concerns about the Fed’s next moves.
    Congress passed the bill, aimed to boost domestic production and research of chips, in late July. While the star of the show is the $52 billion in subsidies for U.S. companies producing computer chips, the package in total costs $280 million.
    Complicating Cramer’s concerns about inflation are hawkish comments on inflation from Fed leaders on Wednesday, suggesting that the central bank needs to continue taking aggressive action to slow down the economy.

    “I don’t want others to lose their jobs or their homes. … I have no idea how [Fed Chair] Jay Powell can stop the trillions of dollars in spending just when we have the lowest unemployment rate in decades,” Cramer said.

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    Ford reports big jump in July sales, including for trucks and electric vehicles

    Ford said its new vehicle sales last month increased 36.6% from a year ago, compared with industrywide sales that were estimated to have declined by 10.5%.
    Sales of Ford’s profitable F-Series pickups hit 63,341 in July – marking the first-time units have topped 60,000 this year.

    DETROIT – Ford Motor’s U.S. vehicle sales last month showed notable improvements in volumes and truck availability, following a fire at a supplier’s plant in Japan that hurt its year-ago sales.
    The Detroit automaker said Wednesday its new vehicle sales rose 36.6% in July from a year ago, compared to industry sales that were estimated to have declined by 10.5%. Ford’s July sales of 163,942 vehicles were up 7.7% from June.

    A year ago, Ford’s vehicle production and sales were down more than other automakers due to a fire at one of its chip suppliers in Japan that forced production cuts during the first half of 2021.

    Ford F-150 Lightning at the 2022 New York Auto Show.
    Scott Mlyn | CNBC

    Ford’s stock was up by as much as 6.5% during intraday trading Wednesday before closing at $15.69 a share, up 3.5%. Despite having its best performance last month since the Great Recession, the stock remains down about 25% in 2022.
    Sales of Ford’s profitable F-Series pickups hit 63,341 in July – marking the first time units have topped 60,000 this year. The sales were up 21.1% compared to a year ago and up roughly 10% from the previous month.
    Ford said its share of the U.S. electric vehicle market last month hit a record 10.9%, as the company increases production and availability of the F-150 Lightning pickup, Mustang Mach-E crossover and E-Transit van.
    Ford said electric vehicle sales totaled 30,648 units through July. That included sales of about 7,700 vehicles in July, which was 169% increase from a year ago.

    Sales of all Ford’s vehicles, including its luxury Lincoln brand, totaled more than 1 million units through July, a 3.3% decrease from a year ago. At the end of last month, the automaker’s U.S. vehicle inventory was about 245,000 units, up from 160,000 in July 2021.
    Cox Automotive expects total U.S. vehicle sales to be 14.4 million units in 2022, down from a previous forecast of 15.3 million, due to greater than expected supply chain issues. At current sales rates, new-vehicle sales this year would finish below 2020, when the coronavirus pandemic forced dealers and factories to temporarily shutter.

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