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CNBC’s Jim Cramer on Tuesday told investors that the market is in bull mode, so declines represent opportunities to buy on a dip.
Stocks rose on Tuesday, with the S&P 500 reaching its best January performance since 2019 on strong corporate earnings and softer-than-expected inflation data.

CNBC’s Jim Cramer on Tuesday told investors that the market is in bull mode, so declines represent opportunities to buy on a dip.
“If we’re in a bull market, and I think we are, you have to prepare yourself,” he said, adding, “We have to prepare for the down days now because in a bull market, they’re buying opportunities.”

Stocks rose on Tuesday, with the S&P 500 reaching its best January performance since 2019 on strong corporate earnings and softer-than-expected inflation data. The Nasdaq Composite saw its best January since 2001.
Cramer said the market’s ability to gain due to strong earnings reports suggests that it has more room to run.
“Bear market goes the opposite way — stocks open up, then get clobbered and you feel humiliated. Good earnings mean nothing except price target cuts,” he said.
The market’s gains come a day after stocks fell to start the week. Cramer said that Tuesday’s turnaround shows that high-quality names will eventually rebound in the current market.
“Even if it doesn’t reverse today, well then, there’s always tomorrow, so don’t think of betting against it,” he said.

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Santa Fe prosecutors have charged Alec Baldwin with two counts of involuntary manslaughter in the “Rust” movie set shooting.
The prosecutors allege that he was not properly trained to handle the weapon that ultimately led to the killing of cinematographer Halyna Hutchins.
Hannah Gutierrez-Reed, the armorer of the film, has also been officially charged with the same counts.

Actor Alec Baldwin arrives at the 2022 Robert F. Kennedy Human Rights Ripple of Hope Award Gala at the Hilton Midtown in New York on December 6, 2022.
Angela Weiss | Afp | Getty Images

Santa Fe prosecutors on Tuesday filed charges of two counts of involuntary manslaughter against Alec Baldwin for the fatal shooting on the set of the movie “Rust.”
They alleged the actor had not been properly trained to handle the weapon that ultimately killed cinematographer Halyna Hutchins.

Hannah Gutierrez-Reed, the armorer of the film, was also charged with the same two counts of involuntary manslaughter. David Halls, the assistant director of “Rust” who was also involved in handling the gun that killed Hutchins, signed a plea deal, suspending his sentence and granting him six months of probation.
“Today, we have taken another important step in securing justice for Halyna Hutchins,” New Mexico First Judicial District Attorney Mary Carmack-Altwies said. “In New Mexico, no one is above the law and justice will be served.”
Baldwin’s attorneys did not immediately provide a comment.
Baldwin had been “distracted and consistently talking on his cell phone to his family,” during what had intended to be a more than one-hour firearm-training session, according to a statement of probable cause that was filed in conjunction with the charges. Due to Baldwin’s distractions, the training he received was estimated to be 30 minutes, according to the DA’s statement.
In addition to being the star of the film, Baldwin was one of the producers, deeming him responsible for upholding the safety protocols and for hiring Gutierrez-Reed despite her lack of qualifications.

“Baldwin, by act or omission or failure to act in his position as a producer directly contributed and/or failed to mitigate reckless and dangerous actions during a very short time period,” alleges the DA’s office, which claims that at least a dozen “acts or omissions of recklessness” took place on the day of the shooting alone.
According to the probable cause statement, Baldwin has “asserted publicly that he is an ‘…expert…’ in the realm of firearms and filmmaking.”
“Reed knew Baldwin required more training,” which “could have prevented the fatal shooting,” prosecutors said, citing a statement Gutierrez-Reed issued in her deposition.
Hours before the shooting took place, half a dozen members of the film crew walked off the set to protest what they viewed as harsh, unsafe working conditions, according to a report from the Los Angeles Times.
Lawyers for Gutierrez-Reed pushed back on the probable cause statement, saying the district attorney “completely misunderstood the facts” and “reached the wrong conclusions.” They also said she was “denied and brushed aside” when she pleaded to provide more training with firearms.
“She was told by production to focus on props. Hannah asked Halls if they could us a plastic gun for the rehearsal scene and he said no, wanting a ‘real gun.’ Hannah asked to be called back into the church if Baldwin was going to use the gun at all and Halls failed to do that,” attorneys Jason Bowles and Todd Bullion said in a statement.
“Yet the district attorney has given Halls a 6 month probation misdemeanor and charged Hannah and Baldwin with felony offenses carrying at least 5 years in prison. The tragedy of this is had Hannah just been called back into the church by Halls, she would have performed the inspection and prevented this tragedy,” they added.
Authorities announced earlier this month they would file criminal charges in the case.
The documents filed in association with the charges state that Baldwin had not been properly trained for handling the weapon that killed Hutchins and injured Joel Souza, the film’s director, in October 2021.
Evidence from the Santa Fe district attorney’s office also claims that Gutierrez-Reed was unqualified for the role of armorer for the film, having “possessed no certification or certifiable training, or union ‘card’ for this practice, and that she admitted she was the armorer for only one film prior to this production.”
Baldwin and Gutierrez-Reed both face two counts of involuntary manslaughter. Both are felonies that carry $5,000 fines, but one includes an 18-month sentence while the other has a five-year sentence.
The two have been charged under a standard called “charged under the alternative,” meaning that a jury will decide which of the two manslaughter counts applies.

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Sens. Richard Blumenthal and Ed Markey are reintroducing passenger protections after massive flight cancellations over the holidays.
The proposed bills call for minimum passenger compensation for getting bumped off of oversold flights.
Southwest canceled nearly 17,000 flights in the last 10 days of the year.

Passengers walk past a flight status board in Terminal C at Orlando International Airport that shows many delays, Wednesday, Jan. 11, 2023, after the FAA grounded all U.S. flights earlier in the day.
Joe Burbank | Tribune News Service | Getty Images

Two Senate Democrats on Tuesday reintroduced legislation to strengthen airline passenger protections following a year of travel disruptions that was capped by chaos that stranded thousands of people over the December holidays.
Sens. Richard Blumenthal of Connecticut and Edward Markey of Massachusetts are trying to get traction on two bills that aim to speed up passenger refunds during flight disruptions and tamp down on airline fees that range from seating assignments to checked bags and brought in billions for the airline industry.

The Airline Passengers’ Bill of Rights, which is co-sponsored by Sens. Sheldon Whitehouse, D-R.I., Bob Casey, D-Pa., Ron Wyden, D-Ore., and Bernie Sanders, I-Vt., also calls for minimum compensation of $1,350 for travelers bumped off of oversold flights. Currently airlines can cap compensation for those delays at $1,550, according to the Transportation Department.
Their attempt to get the legislation approved comes a month after Southwest Airlines canceled some 16,700 flights from Dec. 21 through Dec. 31 after its internal crew rebooking systems were unable to handle numerous flight changes from bad weather, prompting executives to slash the schedule. Southwest last week said it has processed nearly all reimbursement requests but declined to provide further detail.
Sen. Maria Cantwell, D-Wash., is planning to hold a hearing on the latest airline disruptions in the coming weeks.
The bills also follow a push by the Biden administration for stricter airline passenger rules, including for traveler refunds.
Airlines for America, an industry group whose members include the largest U.S. carriers, didn’t immediately comment.

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General Motors executives said they don’t expect significant production increases of new EVs until the second half of this year.
The problem? Battery cell production at GM’s new or under-construction U.S. plants, executives said.
As GM slowly increases production, others such as Hyundai and Ford have been ratcheting up production of EVs to close the gap on industry leader Tesla.

Production is now set to begin at the former Detroit-Hamtramck assembly plant, less than two years after GM announced the massive $2.2 billion investment to fully renovate the facility to build a variety of all-electric trucks and SUVs.
Photo by Jeffrey Sauger for General Motors

DETROIT – When General Motors launched the GMC Hummer EV in 2021, the automaker touted it as a new benchmark for its vehicle development time, but the production and sales pace of the truck have been anything but that.
The Detroit automaker only sold 854 of the vehicles in 2022. That’s an average of 17 trucks per week, including some downtime at the production plant. It’s a far cry from a traditional production ramp-up over several months, albeit it an all-new vehicle.

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But it’s not just the Detroit-produced Hummer. It’s all of GM’s new EVs in the U.S., as the company slowly ramps up production of vehicles on its new “Ultium” EV platform.
GM executives said Tuesday they don’t expect significant production increases of the new EVs until the second half of this year – making the Hummer a nearly two-year ramp-up and causing production of the new Cadillac Lyriq to be painfully slow at a plant in Tennessee.
The problem? Cell production at GM’s new or under-construction U.S. plants, according to executives.
“We’ll be ramping up EV volumes throughout the year,” GM finance chief Paul Jacobson told reporters Tuesday morning after releasing fourth-quarter results. “We’ll obviously be at a significantly higher run rate at the back half of this year, other than what we’re starting and it’s really all indexed to cell capacity.”

In October, GM CEO Mary Barra pushed back plans for GM to collectively produce 400,000 EVs in North America by six months due to the inability to ramp up battery production as quickly as the company expected.

Doug Betts, an industry veteran and J.D. Power president of automotive, said a normal ramp-up – from the start or production to hitting targeted units – is about 30 days to 60 days. However, that can vary by product, depending on the amount of new parts and procedures for employees.
Barring any supply chain problems, Betts said electric vehicles should be easier and faster to build than traditional vehicles with internal combustion engines for an experienced automaker.

EVs coming

Barra said Tuesday that the ramp-up remains “on track” for the Ohio facility in addition to construction completion of similar battery facilities in Tennessee later this year and Michigan in 2024. She said the Ohio plant should be at full production capacity around the end of this year, adding about 20% per quarter.
“This is the breakout year for the Ultium platform,” Barra told investors Tuesday, adding the Tennessee plant should be able to scale more quickly. “These plants will help us meet pent-up demand … and it keeps our other EV launches on track.”
GM said Monday it launched production of the GMC Hummer SUV EV at a plant in Detroit. That vehicle is expected to be followed by an electric Chevrolet Silverado work truck by midyear and electric versions of the Chevrolet Blazer and Equinox during the second half of 2023.
GM argues it’s planning for the mid- to long-term and is “well positioned” with its Ultium EVs, including securing all the raw materials needed for North American production capacity of 1 million units by 2025. The company said Tuesday that it plans to invest $650 million in Lithium Americas in a bid to gain more access to lithium, a key component in EV batteries.
“This has been carefully cadenced,” said Stephanie Brinley, principal automotive analyst at S&P Global Mobility, also signaling supply chain problems across the auto industry. “In the long-run, they are going to be better off being careful about it. … They’re still in a good position to lead over time.”

General Motors revealed its all-new modular platform and battery system, Ultium, on March 4, 2020 at its Tech Center campus in Warren, Michigan.
Photo by Steve Fecht for General Motors

But others such as Hyundai Motor and Ford Motor have been ratcheting up production of EVs. Industry leader Tesla also targets to produce 2 million electric vehicles globally this year.
Ford, which ranked second in EV sales in the U.S. last year, expects to increase production of its electric Ford F-150 Lightning. GM’s Detroit rival was able to ramp-up production of the electric pickup to sell more than 15,600 of the vehicles since the truck went on sale in May.
Following recent price cuts by Tesla and Ford on its Mustang Mach-E crossover, Jacobson said the company feels its EVs “are well positioned” regarding pricing. GM’s EVs currently range from the mid-$20,000 Chevrolet Bolt models to the more than $100,000 Hummer vehicles.
GM expects to ramp-up production of the Bolt models, which use older battery technology, to 70,000 vehicles this year, GM has said.

Different batteries?

To assist in scaling its EVs, GM could potentially change the packaging of its batteries to cylinder cells instead of pouches.
Barra declined to comment on media reports about such a change, or the addition of the cylinder cells, to its plans. She said the company has been evaluating different battery form factors and it designed the Ultium platform to be agnostic of current battery shapes.
“We can look to what is going to be the right battery for the specific vehicle from a performance perspective, so we have that complete flexibility,” Barra said.
She said GM currently uses cylinder cells for EVs in China, including the Lyriq. Dealers there delivered about 2,400 vehicles from September through December, she said. That compares to 122 Lyriq EVs with pouch cells in the U.S.
It’s unclear whether switching to cylinder cells would increase production in the U.S., as China’s battery plant production is farther along than in America.
A GM spokesman declined to comment on whether a fourth announced battery plant in the U.S. could produce cylinder cells. Talks between GM and LG Energy Solution recently stalled, and the automaker is seeking another partner.

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Nike is suing Lululemon for patent infringement related to at least four of the apparel company’s shoes.
Nike said it has suffered economic harm and irreparable injury as a result of Lululemon’s sale of the Chargefeel Mid, Chargefeel Low, Blissfeel and Strongfeel sneakers.
The Oregon-based company previously sued Lululemon for patent infringement over its at-home Mirror fitness device.

Getty Images

Nike is suing Lululemon for patent infringement related to at least four of the apparel company’s shoes, extending a contentious legal history between the two companies.
In the complaint, filed Monday in Manhattan federal court, Nike claims it has suffered economic harm and irreparable injury as a result of Lululemon’s sale of the Chargefeel Mid, Chargefeel Low, Blissfeel and Strongfeel shoes.

Nike said its three patent claims focus on textile elements, including knitted elements, webbed areas and tubular structures on the footwear. One patent claim also addresses the footwear’s performance.
Nike, which is based in Oregon, is seeking unspecified damages.
“Nike’s claims are unjustified, and we look forward to proving our case in court,” a Lululemon spokesperson said in a statement Tuesday.
Vancouver-based Lululemon released Blissfeel, its first-ever running shoe for women, in March, marking the company’s official foray into the sneaker market. The second shoe in its lineup, the Chargefeel, launched in July for running and training.
Nike also sued Lululemon in January 2022, accusing the Canadian apparel maker of infringing on six patents over its at-home Mirror fitness device and related mobile applications. Nike is seeking triple damages in that case.

Nike claimed it invented — and filed a patent application back in 1983 on — a device that determined a runner’s speed, calories expended, distance traveled and time elapsed. Interactive workout platform Mirror guides users through cardio classes and other exercises. The complaint noted similarities between the technology enabling users to compete with other users, record their performance and target specific exertion levels.
Lululemon said in a statement at the time, “The patents in question are overly broad and invalid. We are confident in our position and look forward to defending it in court.”

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Airlines canceled hundreds of flights in Texas.
Ice, snow and freezing rain have disrupted thousands of flights this week.
Dallas/Fort Worth International Airport and Dallas Love Field shared the majority of the day’s cancellations.

Delayed flights prepare to depart from Dallas-Fort Worth International Airport (DFW) on January 11, 2023 in Dallas, Texas.
John Moore | Getty Images

More than 1,000 U.S. flights were canceled Tuesday as winter weather hit Texas.
Over 700 flights to and from American Airlines’ hub Dallas/Fort Worth International Airport were canceled, about 40% of the airport’s schedule, according to flight tracker FlightAware. Nearly 200 flights at Dallas Love Field, where Southwest Airlines is based, were canceled.

The Federal Aviation Administration slowed arrivals into both airports. Airlines lifted fees or fare differences for travelers affected by the weather if they can fly in early February instead.
Austin-Bergstrom International Airport warned travelers about dangerous road conditions and closures heading to the airport.
Airlines canceled 1,129 U.S. flights on Monday, about 4.6%, the biggest share since year-end holiday disruptions, according to FlightAware data.

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Co-CEO of DC Studios James Gunn outlined nearly a dozen projects that will be part of the DCEU’s first new chapter, dubbed “Gods and Monsters.”
Among them are new feature films centered on Batman and Damian Wayne as well as Superman and Supergirl.
Television content includes an Amanda Waller series and a “Game of Thrones”-style show set in Wonder Woman’s home Themyscira.

James Gunn speaks onstage at the Marvel Cinematic Universe Mega-Panel during 2022 Comic-Con International Day 3 at San Diego Convention Center on July 23, 2022 in San Diego, California.
Daniel Knighton | Getty Images

“Storytelling is always king. That’s all that matters to us,” James Gunn, the co-CEO of DC Studios said Tuesday as he announced a new slate of film and TV projects that will be part of the next eight to 10 years of comic book content from Warner Bros. Discovery.
Gunn and Peter Safran were named as the new heads of the studio in October, and they are finally revealing their plans for the DC Extended Universe. In a taped video posted to social media, Gunn outlined nearly a dozen projects that will be part of the DCEU’s first new chapter, dubbed “Gods and Monsters.”

“So as many of you know, DC has been disconnected in film and television for a long time,” Gunn said in a video posted on Twitter. “And it’s one of our jobs, mine and Peter’s, to come in and make sure the DCU is connected in film, television, gaming, and animation that the characters are consistent, played by the same actors and it works within one story.”
The announcement comes as Gunn’s “Guardians of the Galaxy Vol. 3,” which he made for Disney’s Marvel Studios, gets set to hit theaters in May.
Gunn noted that going forward projects will be clearly labeled as either part of the DCEU or part of “DC Elseworlds,” which is content that lives outside the mainstream continuity. This includes “The Batman – Part II,” a follow up film to Matt Reeves’ “The Batman.” The film is slated for release on October 3, 2025. A “Joker” sequel starring Joaquin Phoenix and Lady Gaga is due next year.
Here is what is coming as part of the next wave of DCEU projects.

Film projects

“Superman: Legacy” – Due out in theaters on July 11, 2025, this film will be written by Gunn, and focus on Superman balancing his Kryptonian heritage with his human upbringing.
“The Authority” – WildStorm characters will join the DCU as members of The Authority take matters into their own hands to do what they believe is right.
“The Brave and the Bold” – Inspired by Grant Morrison’s comic series, the DCEU will introduce Batman and Damian Wayne as Robin in this new film.
“Supergirl: Woman of Tomorrow” – Based on Tom King’s comic series, this film is a science-fiction adventure about Supergirl.
“Swamp Thing” – The film will investigate the dark origins of Swamp Thing

Television projects

“Creature Commandos” – A seven-episode animated show in which Amanda Waller creates a black ops team out of monstrous prisoners.
“Waller” – Starring Viola Davis as Amanda Waller this series will feature characters from “Peacemaker.”
“Booster Gold” – Booster Gold uses basic technology from the future to pretend to be a superhero in present day.
“Lanterns” – A “True Detective”-style show centered on intergalactic cops John Stewart and Hal Jordan as they uncover a dark mystery  
“Paradise Lost” ­– A “Game of Thrones”-style show set in Themyscira, home of the Amazons and birthplace of Wonder Woman, this drama focuses on the genesis and political intrigue of an island of all women.

“One of the things that’s very important for me in all of these movies and TV series is that the director’s vision and the vision of the writers and all of the creators is unique,” Gunn said.

He noted that while the projects will have different tones, they will all feed into a greater over-arching story.
Remaining on the slate for 2023 are the theatrical releases of “Shazam: Fury of the Gods,” “The Flash,” “Blue Beetle” and “Aquaman and the Lost Kingdom.”

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Los Angeles-based Embedded Ventures kicked off an inaugural $100 million fund.
The firm is looking to back companies building for both commercial and national security customers, especially in the space sector.
In 2021, Embedded signed a cooperative agreement with the U.S. Space Force.

Cofounders of Embedded Ventures Jenna Bryant, CEO, and Jordan Noone, CTO.
Embedded Ventures

Los Angeles-based Embedded Ventures kicked off an inaugural $100 million fund, the firm announced Tuesday, as it looks to back companies building for both commercial and national security customers, especially in the space sector.
Embedded is led by general partners Jenna Bryant and Jordan Noone, the latter who came to the VC side after co-founding 3D rocket printer Relativity Space. The firm has previously made early investments in a half dozen aerospace startups, including satellite communications company Akash Systems and space data-focused Slingshot Aerospace, Embedded said.

But Bryant and Noone noted those deals were fundraised on a case-by-case basis – with the new fund marking the next stage of Embedded’s growth.
“We have patient capital and – even if that means we have to miss out on an opportunity – that’s OK. Every company has to go through our diligence process and it’s more thorough than most,” Bryant said in an interview with CNBC.

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Embedded is focused on investing in dual-use technologies, meaning products that serve both commercial and defense customers. In 2021, Embedded signed a cooperative agreement with the U.S. Space Force – which Noone said has acted as “a very open door conversation” between the firm and the military branch.
“Often venture investors have the first eyes on new technologies,” Noone said. The firm’s relationship with the Space Force is aimed at “how we get that in the eyes and ears of people who are making the decisions on what to adopt, or where to drive things like congressional funding,” he said.

From left: Embedded Ventures’ portfolio company KittyCAD CTO Hannah Bollar and CEO Jessie Frazelle, with Jordan Noone and Jenna Bryant.
Embedded Ventures

Noone and Bryant also said they have brought on operating partner Mandy Vaughn, who most recently led the national security subsidiary of Virgin Orbit and oversees the government business development side of the VC firm.

While Embedded declined to specify how much of the $100 million fund it raised during the first close, Noone said it was a “substantial” amount, expecting to complete the raise by the end of the second quarter.
Embedded is kicking off its due diligence process with six new potential investments, Noone said, noting the strength of its young portfolio.
None of the companies it’s invested in have seen layoffs or “down rounds” of valuation, Noone said.

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