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  • HGTV’s Christina Haack slips on bikini for Hawaii getaway with boyfriend Chris Larocca

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    Christina Haack traded winter layers for a bikini and a tropical getaway.

    The HGTV star shared a series of vacation photos on Instagram from Kapalua, Hawaii, where she spent time soaking in ocean views and warm weather alongside boyfriend Chris Larocca.

    Haack posed poolside with Larocca, wearing a white bikini top paired with a matching wrap skirt. She accessorized with oversized sunglasses and a purple lei as rows of pool loungers and palm trees framed the scene behind her. 

    Larocca stood beside her in a black T-shirt, white shorts and flip-flops as the couple smiled for the camera.

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    Christina Haack poses poolside with boyfriend Chris Larocca during a Hawaii vacation in Kapalua. (Christina Haack/Instagram)

    The 42-year-old mother of three shared a close-up selfie while lounging with a drink in hand, smiling broadly as she wore the same white bikini and lei.

    Haack captioned the post, “Aloha 2026. Hands down my fav January yet. 🤍🌸” The couple enjoyed a romantic getaway, and Haack shared a glimpse of the stunning views with her followers.

    Christina Haack takes a selfie by the pool in a bikini.

    Christina Haack smiles in a close-up selfie while relaxing during her Hawaiian getaway. (Christina Haack/Instagram)

    Before heading to Hawaii, the couple bundled up for a blended-family winter trip to Park City, Utah.

    In one photo from the New Year’s trip, Haack posed alongside ex-husband Tarek El Moussa, his wife Heather Rae El Moussa and boyfriend Chris Larocca as the group participated in après-ski activities. The foursome smiled for the camera while bundled in winter layers, marking the holiday together despite lighter-than-expected snowfall.

    Haack acknowledged the conditions in the caption, joking that it was “the saddest amount of snow” she had seen in Park City, while noting that the blended family still made the most of the trip.

    Christina Haack, Chris Larocca, Tarek El Moussa and Heather Rae El Moussa hold champagne glasses while spending time together during a blended-family getaway in Park City, Utah.

    Christina Haack, Chris Larocca, Tarek El Moussa and Heather Rae El Moussa during a trip to Park City, Utah. (Christina Haack/Instagram)

    KYLIE JENNER, BRITTANY ALDEAN AND MORE STARS SHARE SIZZLING HOLIDAY VACATION LOOKS

    Another image from the post focused on the children, showing Haack’s 6-year-old son Hudson, whom she shares with ex-husband Ant Anstead, posing with her and El Moussa’s son Brayden, 10, along with Tarek and Heather Rae El Moussa’s 2-year-old son, Tristan. The kids appeared bundled against the cold as the snowy mountain landscape stretched out behind them.

    The group’s vacation comes as Haack and Heather Rae El Moussa continue to collaborate professionally. The two star together on HGTV’s house-flipping competition series “The Flip Off,” which follows the women — alongside Tarek El Moussa — as they compete to see which couple can achieve the biggest profit renovating homes. The series was renewed for a second season set to air in 2026.

    HGTV STAR CHRISTINA HAACK FIRES BACK AT EX JOSH HALL AFTER ‘LIAR’ POST: ‘HIS 15 MINUTES ARE ALMOST UP’

    Despite their complicated history, Haack and El Moussa have embraced a collaborative blended-family dynamic, frequently sharing moments from group trips and holidays while continuing to work together on television.

    side by side of El Moussa and Haack children.

    Christina Haack and Tarek El Moussa’s children during a trip to Park City, Utah. (Christina Haack/Instagram)

    Haack’s Hawaii and Park City trips come as the HGTV star continues to navigate a highly public personal life that has unfolded alongside her television career.

    Haack first rose to prominence alongside former husband Tarek El Moussa, whom she married in 2009 after the two met while working as real estate agents in California. The pair later starred together on HGTV’s hit series “Flip or Flop,” building both a business and a family before their relationship ended.

    Despite their split, Haack has spoken candidly about how her relationship with El Moussa has evolved over time. During an appearance on SiriusXM’s Radio Andy in January 2025, she reflected on how he has changed since their marriage.

    “He’s way different,” Haack said. “He’s much more calm. Thank God for everybody. And I think he wants to make his relationship work.”

    Heather Rae, Tarek El Moussa and Christina Haack all pose together wearing black

    Christina Haack, Tarek El Moussa and Heather Rae El Moussa star together on HGTV’s house-flipping competition series “The Flip Off.” (Phillip Faraone/Getty Images for HGTV)

    Haack also addressed her dynamic with El Moussa’s wife, Heather Rae El Moussa, noting that the two developed a strong working relationship while filming together.

    “I actually really like her,” Haack said. “She’s a hard worker, she puts up with Tarek and she’s a great stepmom.”

    HGTV STAR CHRISTINA HAACK BREAKS DOWN HOW SHE STAYS CLOSE FRIENDS WITH BOTH HER EX-HUSBANDS

    After her divorce from El Moussa was finalized in 2018, Haack married British TV personality Ant Anstead. The former couple welcomed a son together before announcing their separation in 2020 and finalizing their divorce the following year.

    Haack later married real estate agent Josh Hall in October 2021, a relationship that ended in a contentious split, with the divorce not finalized until May 2025. Speaking openly on Radio Andy, Haack detailed the status of the divorce proceedings back January 2025.

    Christina Hall attends Barbie premiere

    Christina Haack has three children from her previous marriages. (Michael Buckner/Getty Images)

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    “Not even close,” she said when asked if the couple had reached a settlement. “We’re going to be going to trial I hear.”

    She also confirmed hiring prominent divorce attorney Laura Wasser during the process.

    “Yeah, it’s not cheap,” Haack said.

    Amid the ongoing legal battle, Haack confirmed in February 2025 that she had moved on with current boyfriend Chris Larocca. Since then, she has shared glimpses of their relationship through social media and blended-family gatherings.

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  • Country star Russell Dickerson says small-town upbringing meant ‘rodeos and tractor pulls,’ not the movies

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    Russell Dickerson is reflecting on his small-town roots.

    The country music star, who grew up in Tennessee and is best known for hit songs like “Yours” and “Blue Tacoma,” has spent the past decade building a successful country music career that has taken him from rural fairgrounds to some of the biggest stages in the genre, including an upcoming performance at the Houston Livestock Show and Rodeo. 

    While speaking with Fox News Digital, Dickerson said that entertainment in his household growing up revolved around small-town traditions.

    COUNTRY STARS LAINEY WILSON, LEANN RIMES AND KELSEA BALLERINI DAZZLE ON CMA AWARDS RED CARPET IN NASHVILLE

    Russell Dickerson reflects on his small-town Tennessee roots and a full-circle career moment ahead of his Houston Rodeo appearance. (Houston Livestock Show and Rodeo )

    “Absolutely… we didn’t go to the movies that much really. We went to rodeos, we went to tractor pulls and that was my redneck entertainment growing up.”

    WATCH: COUNTRY STAR RUSSELL DICKERSON SAYS SMALL-TOWN UPBRINGING MEANT ‘RODEOS AND TRACTOR PULLS,’ NOT THE MOVIES

    That upbringing is now coming back around in a very real way for the country singer as he prepares to take the stage at one of the most iconic rodeos in the country.

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     “So to bring it full circle at RodeoHouston, I get to perform my music there is unbelievable.”

    For Dickerson, the milestone carries added meaning beyond his own career, as it’s a moment he wants to share with his family.

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    “Yes, I mean, surely we’ll bring my oldest son, Remington. Surely he’ll be there, ‘cuz this is the biggest show of my entire life. And he’s gotta see that. I think he’ll flip out.”

    Country music singer Russell Dickerson performs onstage in front of a live audience.

    Russell Dickerson performs during a recent live concert as he prepares for a milestone appearance at the Houston Rodeo. (Gilbert Flores/Getty Images)

    On Wednesday, Jan. 7, Dickerson helped bring a taste of RodeoHouston culture to New York City, taking part in a pop-up performance in Times Square as part of the event’s national promotion. The appearance gave fans a preview of the Western traditions that shaped his upbringing ahead of his upcoming HoustonRodeo performance.

    “I’ve never seen this many cowboy hats and boots stomping around Times Square. It’s a beautiful sight, and country music is universal like that.”

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    The Times Square New York City appearance was just one part of a bigger moment for Dickerson, as the RodeoHouston invitation marked a major milestone in his career.

    WATCH: RUSSELL DICKERSON SAYS COUNTRY MUSIC TOOK OVER TIMES SQUARE AHEAD OF RODEOHOUSTON MOMENT

    Dickerson said the opportunity was especially meaningful as an artist.

    “I remember when I got the call. I was just in the gym, you know, and my manager — they were like, there was all three of them on the phone. And I was like, ‘This is weird.’ And they’re like, ‘Hey, we just wanted to all tell you at the same time that you got invited to play the RodeoHouston.’ And I just, like, ‘Oh, I mean, absolute bucket list.’ So it’s already been said, but an absolute honor to be one of those artists that’s in that lineup this year.”

    The moment comes as Dickerson is riding one of the biggest years of his career. His song “Happen to Me,” released in March 2025, took off and helped introduce his music to an even wider audience.

    Dickerson said the response caught him by surprise, calling it “absolutely out of nowhere,” and thanked fans for embracing the song and showing up along the way. 

    Country music singer Russell Dickerson poses with his wife, Kailey, at the CMAS

    Russell Dickerson poses with his wife, Kailey, with whom he shares two sons. (Taylor Hill/WireImage/Getty Images)

    He is set to perform at RodeoHouston on March 5, 2026, joining a star-studded lineup that includes Chris Stapleton, Kelly Clarkson, Luke Bryan, Lainey Wilson, Tim McGraw, Lizzo and Cody Johnson, among others.

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  • Nicole Scherzinger floods social media with bikini photos while teasing wedding plans

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    Nicole Scherzinger is having fun during her Maldives vacation.

    The Pussycat Dolls star has been flooding social media with stunning bikini photos this week as she enjoys the start of the New Year.

    The 47-year-old showcased her physique on Instagram with a series of photos in a pastel triangle string bikini accented with beaded details. She kept her beach accessories simple with clear brown sunglasses and small hoop earrings.

    Nicole Scherzinger throws her hands in the air while posing in a pastel bikini during a sunny beach moment in the Maldives. (Nicole Scherzinger/ Instagram )

    In the first photo, she threw her hands up joyfully and tilted her head back in the sun.

    ELIZABETH HURLEY, CHRISTIE BRINKLEY AND JEWEL LEAD STARS OVER 50 IN AGE-DEFYING SWIMSUIT PHOTOS

    Scherzinger also included a shot from behind as she walked into the water to meet her fiancé, Thom Evans, a former Scottish international rugby player turned model and television personality.

    Her photo shoot continued with her kneeling in the sand, the vibrant turquoise water behind her. Scherzinger glowed with an excited expression, her arms raised again in the air.

    Split image shows Nicole Scherzinger from behind as she walks into the ocean in a pastel bikini and, in a second photo, posing joyfully with her arms raised in the shallow water during her Maldives vacation.

    Nicole Scherzinger is photographed from behind walking into the ocean and celebrating with her arms raised in the water. (Nicole Scherzinger/Instagram )

    NINA DOBREV FLAUNTS BIKINI BODY IN VACATION PHOTOS CELEBRATING THE ‘FINAL DAYS OF 2025’

    She captioned her post, “Hope everyone had a beautiful start to the New Year. First Monday, learning something new — Muay Thai 🥊🩵.” 

    The fitness queen hasn’t taken a vacation from workouts or fast-paced activities. The final slide of her carousel featured a video of her trying her hand at Muay Thai, a form of Thai boxing.

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    The former “X Factor” judge shared another workout look in the second slide of her post, opting for an all-black outfit from baseball cap to athletic sneakers.

    The Tony Award winner has been enjoying the getaway with her fiancé, whom she first met in 2019 while serving as a judge on “The X Factor: Celebrity,” in which Evans competed. Several of Scherzinger’s posts this week have featured romantic moments in a series of video montages from their trip.

    Nicole Scherzinger models an all-black athletic outfit during her Maldives vacation.

    Nicole Scherzinger poses in an all-black athletic look while gazing at the ocean during her Maldives getaway. (Nicole Scherzinger/Instagram )

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    A few days earlier, the star posted a playful video to the viral song “Where Is My Husband?” The clip begins with Scherzinger dancing and shaking her hips before pointing to her fiancé and pulling him forward as he follows her lead. The on-screen text states, “POV: everyone keeps asking, ‘So when’s the wedding?’” 

    She then jumps into his arms as he twirls her around.

    She captioned the post, “Asking the universe for patience… and sunscreen 🩵.”

    Nicole Scherzinger poses on the red carpet wearing a silver gown with photographers in the background.

    Nicole Scherzinger recently shared bikini photos from a Maldives vacation while ringing in the new year. (John Shearer/WireImage/Getty Images)

    Fans in the comments were excited about the pending nuptials, with some joking it should be a New Year’s resolution to make it official. The couple got engaged in June 2023 after three years of dating.

    JESSICA ALBA DAZZLES IN CHEETAH PRINT BIKINI ON PDA-FILLED BEACH VACATION WITH ‘TOP GUN’ STAR BOYFRIEND

    Earlier this summer, Scherzinger admitted wedding plans had taken a back seat while she focused on her Broadway run. Speaking to HELLO! magazine, the Tony Award winner said, “Oh, there’s no wedding planning, honey. When you do Broadway, it’s only Broadway.” 

    She added that her fiancé has been supportive, saying, “Thank God I have a very understanding, wonderful and supportive fiancé.”

    Scherzinger starred as Norma Desmond in “Sunset Boulevard,” which opened on Broadway in October 2024. Due to strong audience demand, the production extended its run through early summer 2025, with its final performance on July 20.

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  • Paramount revives ‘Rush Hour’ franchise reportedly after Trump’s request

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    Paramount Pictures is distributing “Rush Hour 4” after a report suggested President Donald Trump personally lobbied the company for another sequel.

    Deadline confirmed Tuesday that Paramount Pictures will distribute the fourth installment of the buddy-cop action series starring Jackie Chan and Chris Tucker on behalf of Warner Bros. Discovery. Chan and Tucker are expected to return, along with franchise director Brett Ratner.

    The news followed a Semafor report Sunday that Trump had been speaking with Paramount owner David Ellison, son of longtime donor Larry Ellison, about possibly reviving the franchise.

    JOHN RICH SAYS HOLLYWOOD’S PRAISE OF TRUMP PROVES ‘WOKE MONSTER’ IS FADING AS WOODY ALLEN APPLAUDS PRESIDENT

    Chris Tucker and Jackie Chan starred in the 1998 movie “Rush Hour.” (New Line Cinema/Getty Images)

    “Trump appears to want to revive the raucous comedies and action movies of the late 1980s to late 1990s,” the report read. “He’s passionate, for instance, about the 1988 Jean-Claude Van Damme sports flick ‘Bloodsport.’ A person directly familiar with the conversations told Semafor that the president of the United States has personally pressed the Paramount owner to revive another franchise from Ratner: ‘Rush Hour,’ a buddy-cop comedy starring Jackie Chan and Chris Tucker that blended physical comedy, martial arts and gags about racial stereotypes.”

    Fox News Digital reached out to the White House and Paramount for comment.

    ACTORS GO BEHIND-THE-SCENES ON HOW TRUMP IS MAKING HOLLYWOOD GREAT AGAIN

    Ratner previously worked with the Trump family after directing a documentary about first lady Melania Trump in the days leading up to the 2025 inauguration that is set to be released in January.

    CBS News staffers say they're

    President Donald Trump reportedly lobbied Paramount CEO David Ellison for a new “Rush Hour” film. (Charly Triballeau/AFP via Getty Images)

    Arthur M. Sarkissian, who produced all three “Rush Hour” films, also produced the 2024 documentary “The Man You Don’t Know” through his company, Global Ascension Studios. The documentary, released before the 2024 presidential election, sought to offer “fresh perspectives” on Trump through interviews with friends and family.

    Franchise stars Chan and Tucker have been comparatively supportive of Trump in the past, especially when compared with outspoken liberal figures in Hollywood.

    HOLLYWOOD POWERHOUSE SAYS HE RECEIVED ‘BLOWBACK’ AFTER VOTING FOR TRUMP

    In 2016, Chan encouraged people to give Trump “a chance to try to change America and change the world” after he won his first presidential election.

    Melania Trump, Donald Trump

    Director Brett Ratner previously worked on a documentary about first lady Melania Trump. (Joe Raedle/Getty Images)

    “He’s a businessman…I think he knows how to handle these types of things,” Chan told Yahoo Celebrity.

    In 2018, Tucker told “Good Morning Britain” that he hoped Trump “does a good job” and that he would “pray for him.”

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    “I hope he does a good job because, listen, we need a great president. We need a lot of things to happen in our country, in America. I hope he does good. I hope tomorrow he wakes up and does the right thing,” Tucker said.

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  • Jimmy Kimmel chokes up as he explains Kirk comments, says he ‘never’ intended to mock assassination

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    “Jimmy Kimmel Live!” host Jimmy Kimmel insisted that he never intended to make light of Charlie Kirk’s assassination in comments that led to his show’s suspension.

    Tuesday night was the first show Kimmel hosted since Disney announced its return on Monday after nearly a week off the air.

    Kimmel came out to a standing ovation which continued into chants of “Jimmy! Jimmy! Jimmy!” and ongoing cheering.

    “If you are just joining us, we are preempting your regularly scheduled encore episode of ‘Celebrity Family Feud,’ we’re bringing you this special report,” Kimmel opened. “I’m happy to be here with you tonight.” 

    WHY ABC BRINGS BACK JIMMY KIMMEL TODAY AFTER ITS DEBACLE OVER FREE SPEECH

    “Jimmy Kimmel Live!” returned Tuesday night after almost a week’s suspension. (Randy Holmes/ABC via Getty Images)

    He went on to thank his fellow late-night talk show hosts, including Stephen Colbert, Jon Stewart and David Letterman, along with right-leaning critics like Clay Travis and Sen. Ted Cruz, R-Texas, for showing some support for him during his suspension.

    Kimmel then addressed, though did not apologize for, the comments that originally got him suspended.

    “I’ve been hearing a lot about what I need to say and do tonight, and the truth is, I don’t think what I have to say is going to make much of a difference,” Kimmel said. “If you like me, you like me. If you don’t, you don’t. I have no illusions about changing anyone’s mind. But I want to make something clear, because it’s important to me as a human, and that is – you understand that it was never my intention to make light of the murder of a young man.”

    Kimmel began tearing up as he said he posted a message to Instagram sending love to Kirk’s family the day of his death.

    “Nor was it my intention to blame any specific group for the actions,” he continued. “It was a deeply disturbed individual. That was really the opposite of the point I was trying to make, but I understand that, to some, it felt either ill-timed or unclear or maybe both, and for those who think I did point a finger, I get why you’re upset. If the situation was reversed, there’s a good chance I would have felt the same way.” 

    Kimmel added, “I have many friends and family members on the other side who I love and remain close to, even though we don’t agree on politics at all. I don’t think the murderer who shot Charlie Kirk represents anyone. This was a sick person who believed violence was a solution, and it isn’t ever.”

    LIBERALS RAGE AS ABC PULLS JIMMY KIMMEL OFF AIR FOLLOWING CHARLIE KIRK ASSASSIN COMMENTS

    Jimmy Kimmel in a tux

    Jimmy Kimmel came under fire last week over comments he made about Charlie Kirk’s alleged assassin.  (Getty Images)

    Kimmel also gave his mixed thoughts on Disney suspending his show after 23 years on the air.

    “Every night, they defended my right to poke fun at our leaders and to advocate for subjects that I think are important by allowing me to use their platform, and I’m very grateful for that. With that said, I was not happy when they pulled me off the air on Wednesday,” Kimmel said.

    He added, “I did not agree with that decision and I told them that, and we had many conversations. I shared my point of view, they shared theirs. We talked it through. And at the end, even though they didn’t have to, they really didn’t have to, this is a giant company, we have short attention spans, and I am a tiny part of the Disney corporation, they welcomed me back on the air.”

    Kimmel closed his monologue by tearfully recounting Erica Kirk’s speech at her husband’s funeral where she showed forgiveness to his assassin.

    “There was a moment over the weekend, a very beautiful moment. I don’t know if you saw this. On Sunday, Erika Kirk forgave the man who shot her husband. She forgave him. That is an example we should follow. If you believe in the teachings of Jesus, as I do, there it was. That’s it. A selfless act of grace, forgiveness from a grieving widow. It touched me deeply, and I hope it touches many, and if there’s anything we should take from this tragedy to carry forward, I hope it can be that,” Kimmel said.

    Kimmel’s show was suspended by Disney last Wednesday after he said right-wing commentators were “desperately” trying to characterize Kirk’s alleged assassin as someone who wasn’t “MAGA.”

    “We hit some new lows over the weekend with the MAGA gang desperately trying to characterize this kid who murdered Charlie Kirk as anything other than one of them and doing everything they can to score political points from it,” Kimmel said on Sept. 15.

    Broadcasting companies Sinclair Broadcasting Group and Nexstar Media Group announced after the episode aired that they would be preempting the show across dozens of ABC affiliates because of Kimmel’s “ill-timed and insensitive” comments. 

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    Jimmy Kimmel

    Major local station owners Nexstar Media Group and Sinclair Broadcast Group have announced they will continue to preempt ABC’s “Kimmy Kimmel Live!” in key markets. (Randy Holmes/Disney via Getty Images)

    Federal Communications Commission (FCC) chair Brendan Carr also made a veiled threat against the show following backlash from the comments.

    Sinclair and Nexstar preempted Kimmel’s show again Tuesday night and have said they will keep doing so as discussions with ABC continue behind the scenes.

    Ahead of Kimmel’s return, President Donald Trump attacked both Kimmel and ABC for bringing the show back despite being told that it was “canceled.”

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    “I can’t believe ABC Fake News gave Jimmy Kimmel his job back. The White House was told by ABC that his Show was cancelled! Something happened between then and now because his audience is GONE, and his ‘talent’ was never there. Why would they want someone back who does so poorly, who’s not funny, and who puts the Network in jeopardy by playing 99% positive Democrat GARBAGE,” Trump wrote.

    He continued, “He is yet another arm of the DNC and, to the best of my knowledge, that would be a major Illegal Campaign Contribution. I think we’re going to test ABC out on this. Let’s see how we do. Last time I went after them, they gave me $16 Million Dollars. This one sounds even more lucrative. A true bunch of losers! Let Jimmy Kimmel rot in his bad Ratings.”

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  • As Nvidia prepares to post results, these three Europe chip names are tipped for gains, JPMorgan says

    As Nvidia prepares to post results, these three Europe chip names are tipped for gains, JPMorgan says

    As Nvidia prepares to publish its much-anticipated full-year results this Wednesday, analysts at JPMorgan say VAT Group, ASML Holding, and ASM International all offer the strongest prospects for investors seeking to cash in on an upturn in the market for microchips. 

    JPMorgan analysts led by Sandeep Deshpande explained that while the slump in the microchip market is now showing signs of improvement, certain segments of the market — including those that supply chips to the auto and industrial sectors — are improving more slowly than others.

    The market for memory chips is, meanwhile, giving off signals of a bumper recovery, with inventory levels for the microchips used in computer storage devices currently sitting at lower than average seasonal levels, they said in a note to clients that published Monday. 

    As such, those Europe-based semiconductor companies least exposed to the autos and industrial sectors, which have the highest exposure to the market for memory chips, are set to see the biggest benefits in the near term, said Deshpande and the team.

    Swiss company VAT Group
    VACN,
    +0.37%

    makes vacuum valves used in chip manufacturing, while Dutch firms ASML Holding
    ASML,
    -0.10%

    ASML,
    -1.73%

    and ASM International
    ASM,
    -2.13%

    both make the lithography machines used to manufacture semiconductors. 

    Shares in all three European companies are up significantly over the previous 12 months — VAT has gained 51%, ASML 43% and ASM 81%.

    Notably, all three European companies are all focused on making the equipment used to manufacture the advanced microchips used in electronic products, including smartphones and personal computers. In JPMorgan’s view, this puts them in an advantageous position to benefit from any recovery. 

    At the same time, those companies most exposed to the auto and tech industries, including German firm Infineon Technologies AG
    IFX,
    -0.96%

    and Swiss firm STMicroelectronics
    STM,
    -0.29%
    ,
    are set to continue trading at subdued levels — despite already being cheap — as the market remains challenging, they caution.

    Deshpande and the team noted that inventory levels for the chips used in the auto and industrial sectors currently sit at rates 38.7% higher than three-year seasonal averages in the fourth-quarter of 2023, marking a deterioration on the 31.1% rate in the third quarter of 2023.

    In contrast, inventory levels for memory chips improved significantly in the final three months of 2023, having fallen from rates 19% above seasonal averages in the third quarter to rates 1.7% below normal seasonal levels at the end of the fourth quarter of last year.

    For reference, ASML Holding, which was previously split off from ASM International in 1984 through a joint venture with Philips
    PHIA,
    -0.32%
    ,
    is currently the world’s sole manufacturer of the extreme ultraviolet lithography machines used to make the advanced chips used in the AI industry. 

    ASM International continues to design the wafer processing machines used to make microchips. VAT Group produces vacuum valves that are needed to manufacture high tech chips in sterile environments to ensure they are not exposed to outside particles.  

    Nvidia
    NVDA,
    -0.06%
    ,
    the world’s largest chip designer, will on Wednesday announce quarterly results, which investors are expected to pore over, seeking vital clues on the health of the global chip market amid much excitement around a possible AI driven boom. 

    Read: Nvidia’s earnings report could kill the momentum driving U.S. stocks higher, regardless of how it turns out.

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  • Mark Zuckerberg could pay millions to the IRS on Meta dividends. He still might be getting ‘a major break’.

    Mark Zuckerberg could pay millions to the IRS on Meta dividends. He still might be getting ‘a major break’.


    Mark Zuckerberg delighted Meta shareholders and Wall Street this week with news of the social media giant’s first-ever dividend.

    The IRS may also be happy, now that it’s staring at millions in taxes on the Meta stock dividends bound for Zuckerberg’s portfolio.

    Zuckerberg, the CEO of Meta Platforms Inc.
    META,
    +20.32%
    ,
    is poised to make $700 million in dividends yearly. He owns nearly 350 million shares, according to FactSet, and the company will start paying a quarterly dividend of 50 cents a share.

    That would yield nearly $167 million in federal taxes yearly, after a qualified-dividend tax of 20% and another 3.8% tax on the investment returns of rich households, two accounting experts said.

    California income taxes of 13.3% on the dividends could cost Zuckerberg another $93.1 million, said Andrew Belnap, an accounting professor at the University of Texas at Austin’s McCombs School of Business.

    All in, that’s a combined $259.7 million in federal and state taxes annually on the Meta dividends, Belnap estimated.

    For context, U.S. taxpayers reported over $285 billion in qualified-dividend income to the IRS though mid-November 2023, according to agency statistics. Nearly 30 million tax returns reported qualified dividends through that time.

    Meta said it plans a quarterly cash dividend going forward, with the first such payment in March.

    Meta shares soared 20.5% on Friday, ending with a record-high close of $474.99. The Dow Jones Industrial Average
    DJIA,
    S&P 500
    SPX
    and Nasdaq Composite
    COMP
    all closed higher Friday.

    ‘Zuck is getting a major break’

    Meta announced the dividend payment in its earnings results Thursday, on the same week that Americans began filing their income taxes.

    A look at Zuckerberg’s dividends and their tax implications offer a peek at the debate about the varying ways wages and wealth are taxed.

    “Zuck is getting a major break,” said Andrew Schmidt, an accounting professor at North Carolina State University’s Poole School of Management who also crunched the numbers for MarketWatch.

    Approximately $167 million “seems like a high tax bill,” he said. But if Zuckerberg received the $700 million as a straight salary, Schmidt estimated he’d be looking at a roughly $259 million tax bill on the wages after they were taxed at the top marginal rate of 37%.

    Federal income tax brackets run from 10% to 37%.

    Meanwhile, the IRS taxes qualified dividends and capital gains at 0%, 15% and 20%, depending on income and household status. The net investment income tax adds another 3.8% for individuals making at least $200,000 or married couples worth $250,000.

    For federal and state taxes on the Meta dividends, Zuckerberg would face a combined rate of 37.1%, Belnap noted. “His tax rate on this is actually fairly high,” he said.

    The gap in tax rates on income derived from wages and investments “has been a big criticism with U.S. tax policy,” Schmidt said, especially as lawmakers look for ways to come up with more tax revenue.

    Regular retail investors enjoy the same preferential rates on capital gains and dividends as the top 1% of taxpayers, Schmidt added. The issue is that those dividends and stock profits are a smaller part of their income while salaries, taxed at higher rates, are a bigger proportion.

    Belnap noted that California’s state tax rules don’t provide special treatment to dividends.

    Read also: Where Trump, Biden and Haley stand on capital gains, the child tax credit and other key tax questions

    Zuckerberg received a $1 base salary in 2022, a figure that hasn’t changed in several years. He is now worth $142 billion, according to the Bloomberg Billionaires Index, making him the fifth-richest person in the world.

    Meta did not immediately respond to a request for comment.

    Taxes on the Meta dividends will not be something Zuckerberg, or any Meta shareholders big or small, need to deal with until next year’s tax season, Belnap and Schmidt observed.

    But as taxpayers amass their 1099-DIV forms on dividend income, IRS figures show that it’s mostly upper-echelon taxpayers reaping the rewards on the preferential rates for qualified dividends.

    Households worth at least $1 million accounted for 40% of the approximate $285.3 billion in qualified dividends reported through mid-November, according to agency figures.

    For less affluent investors, “it’s usually a nice supplement, but I’d say very few people are living off dividends,” Belnap said.



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  • Meta’s stock is the most overbought in 11 years, but that could be a good thing

    Meta’s stock is the most overbought in 11 years, but that could be a good thing


    There’s a common belief that “overbought” is a technical condition for a stock, but in practice it seems to be more of an ability.

    Meta Platforms Inc.’s stock
    META,
    +20.32%

    soared so much Friday after a blowout earnings report, that some technical readings have reached levels not seen in 11 years.

    The stock rocketed 20.9% to close at a record $474.99, to book the third-biggest gain since going public in May 2012. The only bigger rallies were 23.3% on Feb. 2, 2023 and 29.6% on July 25, 2013, which were also after earnings reports.

    The stock’s Relative Strength Index, which is a momentum indicator that measures the magnitudes of recent gains and losses, climbed to 86.48. That’s the highest level seen since it closed at a record 89.39 on July 30, 2013.

    But that shouldn’t scare off Meta bulls.

    Many chart watchers believe RSI readings above 70 are signs of “overbought” conditions, which suggests bulls need a breather after running faster and farther than they are used to.

    There are also many who believe the ability to become overbought is a sign of underlying strength, since a stock tends to be trending higher when RSI hurdles 70. (Read Constance Brown’s “Technical Analysis for the Trading Professional.”)

    For example, the record RSI reading came three days after the record stock-price rally of 29.6% on July 25, 2013. Even though RSI closed at what was then a record of 88.27 after a record price gain on the 25th, the stock continued to rally and become even more overbought.

    It was that spike that snapped the stock out of the year-long doldrum that followed the initial public offering, and flipped the long-term narrative on the stock to bullish. (Read “Facebook’s ‘breakaway gap’ is a bullish game changer,” from The Wall Street Journal.)


    FactSet, MarketWatch

    And while the record RSI readings in July 2013 did lead to a minor short-term pullback, it didn’t stop the stock from embarking on a long-term uptrend, in which RSI made multiple forays above 70.


    FactSet, MarketWatch

    And the last time RSI closed above 85 was Feb. 2, 2023, when it closed at 86.07, also after a blowout earnings report.

    And similar to 10 years earlier, that historically high overbought reading helped launch another long-term rally.


    FactSet, MarketWatch

    So yes, Meta’s stock is now facing historically high overbought conditions. But as many chart watchers like to say, overbought doesn’t mean over.

    One thing to consider, however, is that the two prior times RSI spiked above 85 were while the long-term fates of the stock were still in question — the stocks were working on short-term bounces following long-term downtrends.


    FactSet, MarketWatch

    But Friday’s blast off happened just days after the stock closed at a record high. There was no resistance to hurdle, so rather than a bullish “breakaway gap,” Friday’s jump could be considered more a bullish leap of faith.

    Also read:

    Meta’s killer stock rally could add $200 billion in market cap — a historic haul.

    Nvidia’s stock could rise above $600 — despite signs it’s already overbought.



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  • So Long, Apple and Tesla. We Built a Better Magnificent 7.

    So Long, Apple and Tesla. We Built a Better Magnificent 7.

    In this article

    AMZN

    AAPL

    MSFT

    NVDA

    SPX

    The Magnificent Seven had an extraordinary year in 2023—one that will be very difficult to repeat. And there will be a new Magnificent Seven in 2024.

    Continue reading this article with a Barron’s subscription.

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  • Berkshire Buys More Liberty SiriusXM Tracking Stock

    Berkshire Buys More Liberty SiriusXM Tracking Stock

    Berkshire Hathaway purchased 2.8 million shares of the Liberty SiriusXM tracking stock in recent days, apparently seeking to capitalize on Liberty Sirius’ discount relative to the value of its stake in Sirius XM Holdings, the satellite radio company.

    Continue reading this article with a Barron’s subscription.

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  • Mark Zuckerberg sold $428 million of Meta stock in the last two months of 2023

    Mark Zuckerberg sold $428 million of Meta stock in the last two months of 2023

    Mark Zuckerberg cashed in on his company’s 2023 stock rally in a big way — selling nearly $428 million worth of shares in Meta Platforms Inc. over the final two months of the year.

    The Meta
    META,
    -0.53%

    co-founder and chief executive offloaded just under 1.8 million shares over the course of every trading day between Nov. 1 and the end of last year, according to a regulatory filing with the U.S. Securities and Exchange Commission on Tuesday. 

    The sales were in accordance with a Rule 10b5-1 trading plan adopted by Zuckerberg in July and saw him capitalize on Meta’s rebounding stock price, which soared 194.1% in 2023 — and nearly threefold since it hit a seven-year low in November 2022. By comparison, the S&P 500
    SPX
    and the Nasdaq Composite
    COMP
    indexes gained 24.2% and 43.4%, respectively, in 2023.

    The moves also broke a two-year hiatus, dating back to November 2021, during which Zuckerberg did not sell any of his stock in the Facebook parent company, according to Bloomberg, which first reported the news. Zuckerberg, who owns roughly 13% of Meta, is ranked the seventh-richest person in the world with a net worth of $125 billion, according to the Bloomberg Billionaires Index.

    Nasdaq-listed Meta shares, which fell 0.5% on Wednesday to $344.47, are now roughly 11% off their all-time closing high of $382.18 from September 2021.

    Representatives for Meta could not immediately be reached for comment.

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  • The Russell 2000 Index has soared, but you might be better off looking elsewhere for quality small-cap stocks

    The Russell 2000 Index has soared, but you might be better off looking elsewhere for quality small-cap stocks

    The Russell 2000 Index soared 12% in December, which might reflect investors’ exuberance about the state of the U.S. economy — it appears the Federal Reserve has won its battle against inflation.

    But if you are looking to broaden your exposure to the stock market beyond the large-cap S&P 500
    SPX,
    buying shares of a fund that tracks the Russell 2000 Index
    RUT
    might not be the best way to do it. This is because the Russell 2000 isn’t selective — it is made up of the smallest 2,000 companies by market capitalization in the Russell 3000 Index
    RUA,
    which itself is designed to capture about 98% of the U.S. public equity market.

    A better choice might be the S&P Small Cap 600 Index
    SML
    because S&P Global requires companies to show four consecutive quarters of profitability to be initially included in the index, among other criteria.

    Below is a screen of analysts’ favorite stocks among the S&P Small Cap 600, along with another for the Russell 2000.

    Watch for a “head fake”

    Much of the small-cap buying in December might have resulted from covering of short positions by hedge-fund managers. This idea is backed by the timing of trading activity immediately following the Federal Open Market Committee’s announcement on Dec. 13 that it wouldn’t change its interest-rate policy, according to MacroTourist blogger Kevin Muir. The Fed’s economic projections released the same day also indicate three cuts to the federal-funds rate in 2024.

    Heading into the end of the year, a fund manager who had shorted small-caps, and then was surprised by the Fed’s interest-rate projections, might have scrambled to buy stocks it had shorted to close-out the positions and hopefully lock in gains, or limit losses.

    That buying activity and resulting pop in small-cap prices could set up a typical “head fake” for investors as the new year begins, according to Muir.

    The long-term case for quality

    Looking at data for companies’ most recently reported fiscal quarters, 58% of the Russell 2000 reported positive earnings per share, according to data provided by FactSet. In other words, hundreds of these companies were losing money. These might include promising companies facing “binary events,” such as make-or-break drug trials in the biotechnology industry.

    In comparison, 78% of companies among the S&P Small Cap 600 were profitable, and 93% of the S&P 500 were in the black.

    Here are long-term performance figures for exchange-traded funds that track all three indexes:

    ETF

    Ticker

    2023

    3 years

    5 years

    10 years

    15 years

    20 years

    iShares Russell 2000 ETF

    IWM 17%

    7%

    61%

    99%

    428%

    365%

    iShares Core S&P Small Cap ETF

    IJR 16%

    25%

    69%

    129%

    540%

    515%

    SPDR S&P 500 ETF Trust

    SPY 26%

    34%

    108%

    210%

    629%

    527%

    Source: FactSet

    An approach tracking the S&P Small Cap 600 has outperformed the Russell 2000 for all periods, with margins widening as you go further back.

    Brett Arends: You own the wrong small-cap fund. How to get into a better one.

    Looking ahead for quality… or not

    For the first screen, we began with the S&P Small Cap 600 and narrowed the list to 385 companies covered by at least five analysts polled by FactSet. Then we cut the list to 92 companies with “buy” or equivalent ratings among at least 75% of the covering analysts.

    Here are the 20 remaining stocks among the S&P Small Cap 600 with the highest 12-month upside potential indicated by analysts’ consensus price targets:

    Company

    Ticker

    Share “buy” ratings

    Dec. 29 price

    Consensus price target

    Implied 12-month upside potential

    Vir Biotechnology Inc.

    VIR,
    +4.47%
    88%

    $10.06

    $32.00

    218%

    Arcus Biosciences Inc.

    RCUS,
    +3.04%
    82%

    $19.10

    $41.00

    115%

    Xencor Inc.

    XNCR,
    +6.03%
    92%

    $21.23

    $39.83

    88%

    Dynavax Technologies Corp.

    DVAX,
    +2.86%
    100%

    $13.98

    $24.80

    77%

    ModivCare Inc.

    MODV,
    +0.95%
    100%

    $43.99

    $75.50

    72%

    Xperi Inc

    XPER,
    +1.81%
    80%

    $11.02

    $18.20

    65%

    Thryv Holdings Inc.

    THRY,
    100%

    $20.35

    $32.75

    61%

    Ligand Pharmaceuticals Inc.

    LGND,
    +1.25%
    100%

    $71.42

    $114.80

    61%

    Green Plains Inc.

    GPRE,
    -1.67%
    80%

    $25.22

    $40.30

    60%

    Patterson-UTI Energy Inc.

    PTEN,
    +0.28%
    75%

    $10.80

    $17.00

    57%

    Ironwood Pharmaceuticals Inc. Class A

    IRWD,
    +8.48%
    83%

    $11.44

    $17.83

    56%

    Catalyst Pharmaceuticals Inc.

    CPRX,
    +1.78%
    100%

    $16.81

    $26.20

    56%

    Payoneer Global Inc.

    PAYO,
    -3.45%
    100%

    $5.21

    $8.00

    54%

    Helix Energy Solutions Group Inc.

    HLX,
    -2.63%
    83%

    $10.28

    $15.00

    46%

    Arlo Technologies Inc.

    ARLO,
    -3.05%
    100%

    $9.52

    $13.80

    45%

    Pacira Biosciences Inc.

    PCRX,
    -5.16%
    100%

    $33.74

    $48.40

    43%

    Privia Health Group Inc.

    PRVA,
    +2.95%
    100%

    $23.03

    $32.53

    41%

    Semtech Corp.

    SMTC,
    -1.23%
    92%

    $21.91

    $30.90

    41%

    Talos Energy Inc.

    TALO,
    +1.19%
    78%

    $14.23

    $20.00

    41%

    Digi International Inc.

    DGII,
    -1.21%
    100%

    $26.00

    $36.14

    39%

    Source: FactSet

    Any stock screen should only be considered a starting point. You should do your own research to form your own opinion before making any investment. one way to begin is by clicking on the tickers for more about each company.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Moving on to the Russell 2000, when we narrowed this group to stocks covered by at least five analysts polled by FactSet, we were left with 936 companies. Among these, 355 have “buy” or equivalent ratings among at least 75% of the covering analysts.

    Among those 355 stocks in the Russell 2000, these 20 have the highest implied upside over the next year, based on consensus price targets:

    Company

    Ticker

    Share “buy” ratings

    Dec. 29 price

    Consensus price target

    Implied 12-month upside potential

    Karyopharm Therapeutics Inc.

    KPTI,
    +4.18%
    75%

    $0.87

    $6.00

    594%

    Rallybio Corp.

    RLYB,
    +0.42%
    100%

    $2.39

    $16.50

    590%

    Vor Biopharma Inc.

    VOR,
    -0.89%
    100%

    $2.25

    $15.44

    586%

    Tenaya Therapeutics Inc.

    TNYA,
    -0.62%
    100%

    $3.24

    $19.14

    491%

    Compass Therapeutics Inc.

    CMPX,
    -5.13%
    86%

    $1.56

    $9.17

    488%

    Vigil Neuroscience Inc.

    VIGL,
    +2.66%
    88%

    $3.38

    $18.75

    455%

    Trevi Therapeutics Inc.

    TRVI,
    -2.99%
    100%

    $1.34

    $7.33

    447%

    Inozyme Pharma Inc.

    INZY,
    +1.64%
    100%

    $4.26

    $21.00

    393%

    Gritstone bio Inc.

    GRTS,
    +6.86%
    100%

    $2.04

    $10.00

    390%

    Actinium Pharmaceuticals Inc.

    ATNM,
    +4.72%
    83%

    $5.08

    $23.36

    360%

    Lineage Cell Therapeutics Inc.

    LCTX,
    86%

    $1.09

    $4.83

    343%

    Century Therapeutics Inc.

    IPSC,
    +9.64%
    86%

    $3.32

    $14.67

    342%

    Acrivon Therapeutics Inc.

    ACRV,
    +1.83%
    100%

    $4.92

    $21.13

    329%

    Avidity Biosciences Inc.

    RNA,
    +1.22%
    100%

    $9.05

    $37.50

    314%

    Longboard Pharmaceuticals Inc.

    LBPH,
    +316.25%
    100%

    $6.03

    $24.17

    301%

    Omega Therapeutics Inc.

    OMGA,
    -1.33%
    100%

    $3.01

    $12.00

    299%

    Allogene Therapeutics Inc.

    ALLO,
    +12.77%
    82%

    $3.21

    $12.79

    298%

    X4 Pharmaceuticals Inc.

    XFOR,
    +5.21%
    86%

    $0.84

    $3.26

    289%

    Caribou Biosciences Inc.

    CRBU,
    -2.79%
    89%

    $5.73

    $22.25

    288%

    Stoke Therapeutics Inc.

    STOK,
    +11.41%
    78%

    $5.26

    $19.33

    268%

    Source: FactSet

    That’s right — this Russell 2000 list is all biotech. And in case you are wondering if any companies are on both lists, the answer is no.

    Don’t miss: 11 dividend stocks with high yields expected to be well supported in 2024 per strict criteria

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  • These 20 stocks soared the most in 2023

    These 20 stocks soared the most in 2023

    (Updated with Friday’s closing prices.)

    The 2023 rally for stocks in the U.S. accelerated as more investors bought the idea that the Federal Reserve succeeded in its effort to bring inflation to heel.

    The S&P 500
    SPX
    ended Friday with a 24.2% gain for 2023, following a 19.4% decline in 2022. (All price changes in this article exclude dividends). Among the 500 stocks, 65% were up for 2023. Below is a list of the year’s 20 best performers in the benchmark index.

    This article focuses on large-cap stocks. MarketWatch Editor in Chief Mark DeCambre took a broader look at all U.S. stocks of companies with market capitalizations of at least $1 billion, to list 10 with gains ranging from 412% to 1,924%.

    The Fed began raising short-term interest rates and pushing long-term rates higher in March 2022 by allowing its bond portfolio to run off. That explains the poor performance for stocks in 2022, as bonds and even bank accounts because more attractive to investors.

    The central bank hasn’t raised the federal-funds rate since moving it to the current target range of 5.25% to 5.50% in July, and its economic projections point to three rate cuts in 2024.

    Investors are anticipating the return to a low-rate environment by scooping up 10-year U.S. Treasury notes
    BX:TMUBMUSD10Y,
    whose yield ended the year at 3.88%, down from 4.84% on Oct. 27 — the day of the S&P 500’s low for the second half of 2023.

    Read: Treasury yields end mostly higher but little changed on year after wild 2023

    Before looking at the list of best-performing stocks of 2023, here’s a summary of how the 11 sectors of the S&P 500 performed, with the full index and three more broad indexes at the bottom:

    Sector or index

    2023 price change

    2022 price change

    Price change since end of 2021

    Forward P/E

    Forward P/E at end of 2022

    Forward P/E at end of 2023

    Information Technology

    56.4%

    -28.9%

    11.5%

    26.7

    20.0

    28.2

    Communication Services

    54.4%

    -40.4%

    -7.6%

    17.4

    14.3

    21.0

    Consumer Discretionary

    41.0%

    -37.6%

    -11.4%

    26.2

    21.7

    34.7

    Industrials

    16.0%

    -7.1%

    8.0%

    20.0

    18.7

    22.0

    Materials

    10.2%

    -14.1%

    -4.9%

    19.5

    15.8

    16.6

    Financials

    9.9%

    -12.4%

    -3.4%

    14.6

    13.0

    16.3

    Real Estate

    8.3%

    -28.4%

    -21.6%

    18.3

    16.9

    24.7

    Healthcare

    0.3%

    -3.6%

    -3.3%

    18.2

    17.7

    17.3

    Consumer Staples

    -2.2%

    -3.2%

    -5.4%

    19.3

    20.6

    21.4

    Energy

    -4.8%

    59.0%

    51.8%

    10.9

    9.8

    11.1

    Utilities

    -10.2%

    -1.4%

    -11.4%

    15.9

    18.7

    20.4

    S&P 500
    SPX
    24.2%

    -19.4%

    0.4%

    19.7

    16.8

    21.6

    Dow Jones Industrial Average
    DJIA
    13.7%

    -8.8%

    3.8%

    17.6

    16.6

    18.9

    Nasdaq Composite
    COMP
    43.4%

    -33.1%

    -3.5%

    26.9

    22.6

    32.0

    Nasdaq-100
    NDX
    53.8%

    -33.0%

    3.5%

    26.3

    20.9

    30.3

    Source: FactSet

    A look at 2023 price action really needs to encompass what took place in 2022 for context. The broad indexes haven’t moved much from their levels at the end of 2022 (again, excluding dividends). We have included current forward price-to-earnings ratios along with those at the end of 2021 and 2022. These valuations have declined a bit, which may provide some comfort for investors wondering how likely it is for stocks to continue to rally in 2024.

    Biggest price increases among the S&P 500

    Here are the 20 stocks in the S&P 500 whose prices rose the most in 2023:

    Company

    Ticker

    2023 price change

    2022 price change

    Price change since end of 2021

    Forward P/E

    Forward P/E at end of 2022

    Forward P/E at end of 2021

    Nvidia Corp.

    NVDA,
    239%

    -50%

    68%

    24.9

    34.4

    58.0

    Meta Platforms Inc. Class A

    META,
    -1.22%
    194%

    -64%

    5%

    20.2

    14.7

    23.5

    Royal Caribbean Group

    RCL,
    -0.37%
    162%

    -36%

    68%

    14.3

    14.9

    232.4

    Builders FirstSource Inc.

    BLDR,
    -1.02%
    157%

    -24%

    95%

    14.2

    10.7

    13.3

    Uber Technologies Inc.

    UBER,
    -2.49%
    149%

    -41%

    47%

    56.9

    N/A

    N/A

    Carnival Corp.

    CCL,
    -0.70%
    130%

    -60%

    -8%

    18.7

    41.3

    N/A

    Advanced Micro Devices Inc.

    AMD,
    -0.91%
    128%

    -55%

    2%

    39.7

    17.7

    43.1

    PulteGroup Inc.

    PHM,
    -0.26%
    127%

    -20%

    81%

    9.1

    6.3

    6.2

    Palo Alto Networks Inc.

    PANW,
    -0.24%
    111%

    -25%

    59%

    50.2

    38.0

    70.1

    Tesla Inc.

    TSLA,
    -1.86%
    102%

    -65%

    -29%

    66.2

    22.3

    120.3

    Broadcom Inc.

    AVGO,
    -0.55%
    100%

    -16%

    68%

    23.2

    13.6

    19.8

    Salesforce Inc.

    CRM,
    -0.92%
    98%

    -48%

    4%

    28.0

    23.8

    53.5

    Fair Isaac Corp.

    FICO,
    -0.46%
    94%

    38%

    168%

    47.1

    29.3

    28.7

    Arista Networks Inc.

    ANET,
    -0.62%
    94%

    -16%

    64%

    32.7

    22.3

    41.4

    Intel Corp.

    INTC,
    -0.28%
    90%

    -49%

    -2%

    26.6

    14.6

    13.9

    Jabil Inc.

    JBL,
    -0.45%
    87%

    -3%

    81%

    13.5

    7.9

    10.3

    Lam Research Corp.

    LRCX,
    -0.81%
    86%

    -42%

    9%

    25.2

    13.5

    20.2

    ServiceNow Inc.

    NOW,
    +0.57%
    82%

    -40%

    9%

    56.0

    42.6

    90.1

    Amazon.com Inc.

    AMZN,
    -0.94%
    81%

    -50%

    -9%

    42.0

    46.7

    64.9

    Monolithic Power Systems Inc.

    MPWR,
    -0.23%
    78%

    -28%

    28%

    49.1

    27.3

    57.9

    Source: FactSet

    Click on the tickers for more about each company.

    Click here for Tomi Kilgore’s detailed guide to the wealth of information available for free on the MarketWatch quote page.

    Don’t miss: Nvidia tops list of Wall Street’s 20 favorite stocks for 2024

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  • Dow nabs 3rd straight record close, S&P has longest weekly win streak in 6 years

    Dow nabs 3rd straight record close, S&P has longest weekly win streak in 6 years

    U.S. stocks closed mostly higher Friday, with major U.S. equity indexes booking a seventh straight week in the green in the wake of the Federal Reserve’s policy meeting.

    The S&P 500 saw its longest weekly winning streak since November 2017, according to Dow Jones Market Data.

    How stock indexes traded

    • The Dow Jones Industrial Average
      DJIA
      rose 56.81 points, or 0.2%, to close at a record 37,305.16.

    • The S&P 500
      SPX
      was about flat, slipping less than 0.1%, to finish at 4,719.19

    • The Nasdaq Composite
      COMP
      gained 52.36 points, or 0.4%, to end at 14,813.92.

    What drove markets

    U.S. stocks finished mostly higher Friday, with the Dow Jones Industrial Average logging a third straight record close.

    Equities broadly rallied this week after investors digested a closely watched reading on U.S. inflation as well as the Federal Reserve’s latest policy statement and projections on interest rates. The Dow, S&P 500 and Nasdaq Composite each logged a seventh straight week of gains.

    The “more optimistic tone of markets over the last several weeks has been justified,” Russell Price, chief economist at Ameriprise Financial, said in a Friday phone call. It’s “reasonable” for the stock market to be pricing in rate cuts by the Federal Reserve in 2024, with the recent drop in 10-year Treasury yields helping to lift equities, he said.  

    Price said he’s expecting the Fed may begin cutting rates in June and the U.S. economy will slow to a “sustainable” pace of growth in 2024. In his view, real gross domestic product may rise 1.8% to 1.9% next year.

    Nearly all of the S&P 500’s 11 sectors finished with gains this week, while small-capitalization stocks saw a stronger rally than large-cap equities.

    The small-cap Russell 2000 index
    RUT
    posted a weekly gain of around 5.6%, FactSet data show. The S&P 500 rose around 2.5% this week.

    At his press conference on Wednesday, Fed Chair Jerome Powell gave “a nod” that inflation was on the right path and lower rates were on the horizon next year, according to Price. But when it comes to the federal-funds futures, Price said that traders appear to have gotten “too far ahead” in their bets on rate cuts.

    Fed-funds futures pointed to the central bank starting to reduce its benchmark rate as soon as March, according to the CME FedWatch Tool.

    Stocks hit a speed bump in Friday’s trading session after New York Federal Reserve Bank President John Williams pushed back against those rate expectations during an interview with CNBC. “We aren’t really talking about cutting interest rates right now,” Williams said.

    Inflation, as measured by the consumer-price index, slowed to a year-over-year rate of 3.1% in November, down significantly from last year’s peak of 9.1% in June.  But “it’s too early to call ‘mission accomplished’ just yet” for the Fed’s goal of bringing inflation down to its 2% target, said Price.

    Still, Powell was explicit during his press conference about not needing a recession to cut rates, according to Nationwide’s chief of investment research Mark Hackett. “That was code for a soft landing,” Hackett said by phone Friday. 

    See: Williams says the Fed isn’t ‘really talking about cutting interest rates right now’

    On the economic news front Friday, the New York Fed’s Empire State manufacturing survey showed U.S. manufacturing activity continued to struggle as the gauge tumbled to a four-month low. Flash services and manufacturing PMIs from S&P affirmed that manufacturing activity remained weak, while services activity reached a five-month high.

    Read: U.S. economy posts steady but lackluster growth at year’s end, S&P finds

    Meanwhile, the yield on the 10-year Treasury note
    BX:TMUBMUSD10Y
    fell 31.7 basis points this week to 3.927%, the largest weekly drop since November 2022, according to Dow Jones Market Data.

    The S&P 500 ended Friday about flat, but just 1.6% below its record close, reached Jan. 3, 2022.

    “The momentum in the market is undeniably incredibly strong right now,” said Nationwide’s Hackett, though on Friday investors appeared to be taking “a natural break.”

    Companies in focus

    • Palantir Technologies Inc. shares
      PLTR,
      -0.05%

      slipped about 0.1% on Friday after the company announced an extension to a U.S. Army contract.

    • Steel Dynamics Inc.’s shares
      STLD,
      +4.52%

      jumped 4.5% after the company reported earnings, making it one of the S&P 500’s best performers in Friday’s trading session.

    • Costco Wholesale Corp. shares
      COST,
      +4.45%

      climbed around 4.5% after reporting fiscal first-quarter earnings and revenue largely in line with expectations following the market’s close on Thursday, and announced a special dividend of $15 a share.

    • JD.com
      JD,
      +4.46%

      gained 4.5% as fresh stimulus out of China helped boost shares of companies based in the world’s second-largest economy. Alibaba Group Holding Ltd.’s stock
      BABA,
      +2.76%

      rose 2.8%.

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  • Why Brenda Lee may not see much money from her No. 1 Christmas song

    Why Brenda Lee may not see much money from her No. 1 Christmas song

    In case you missed the news, the pop-chart star of the moment is Brenda Lee, a 78-year-old Rock & Roll and Country Music Hall of Famer whose 1958 holiday hit, “Rockin’ Around the Christmas Tree,” is remarkably now the nation’s No. 1 song, according to Billboard.

    It all follows a major push by Lee’s label, Universal Music Group’s UMG Nashville/UMe
    UMG,
    +0.28%
    ,
    to bring the decades-old rockabilly-flavored song to the fore. That included releasing the first-ever video for the song, with cameos by country greats Tanya Tucker and Trisha Yearwood, plus a new EP.

    But here’s a related story that could come as a surprise: Lee may stand to gain relatively little financially from her chart-topping success, according to a number of entertainment-industry attorneys and experts who spoke with MarketWatch.

    David Schulhof, a veteran music-industry executive who is behind the MUSQ ETF MUSQ, an exchange-traded fund focused on the music business, said that Lee might take home $250,000 at best directly from recording royalties through her label.

    Not quite the millions of dollars you might expect, in other words. And certainly not the estimated $2.5 million to $3 million that Mariah Carey rakes in annually from her holiday hit, “All I Want for Christmas Is You,” the song that has given Carey the unofficial title of “Queen of Christmas.”

    But Lee’s case is not unique, Schulhof said. “A lot of these artists appear to be richer than they are,” he said.

    MarketWatch reached out to Lee for comment through Universal Music, but didn’t receive an immediate response.

    Lee did issue a statement through the company, however, saying, “This is amazing! I cannot believe that ‘Rockin’ has hit No. 1 65 years after it was released, this is just so special!…The song came out when I was a young teenager and now to know that it has resonated with multiple generations and continues to resonate — it is one of the best gifts I have ever received.”

    A label spokesperson didn’t have immediate comment on the recent royalties generated by the recording.

    Not that Lee’s royalty earnings this year may be anything to sneeze at — certainly, $250,000 is not a bad payday. But in general, the big money in the music business often goes to songwriters, Schulhof and others explain.

    “The richer pot of the two is definitely the composer’s side,” Barry Chase, a Miami-based entertainment attorney, told MarketWatch.

    That is, songwriters are guaranteed a solid chunk of royalties in most contractual arrangements. Indeed, the reason Carey does so well with “All I Want for Christmas Is You” is because she helped pen the hit, which is said to have earned her $60 million since its 1994 release. (That said, Carey is now facing a $20 million copyright lawsuit connected to the song.)

    In the case of “Rockin’ Around the Christmas Tree,” the songwriter is the late Johnny Marks, who also penned such holiday hits as “Rudolph the Red-Nosed Reindeer,” “A Holly Jolly Christmas,” “Silver and Gold” and “I Heard the Bells on Christmas Day.” Marks’ catalog is now managed by his estate, with the songwriter’s son, Michael Marks, helping guide the business.

    “Who would have thought?” Michael Marks told MarketWatch about the recent chart-topping success of “Rockin’ Around the Christmas Tree.” But he didn’t want to respond to other questions, saying, “This is a busy time for us.”

    A key reason songwriters stand to benefit so much is that they receive money from radio play, whereas recording artists — and record labels — do not, explained Chase. And while radio is not as significant in the era of Spotify and other digital outlets, it still counts for something.

    Chase says the radio arrangement was set in motion decades ago and that record companies didn’t push for money tied to airplay because they were eager for the exposure, which they saw as a way to drive sales of the singles or albums.

    Other issues are also at play for recording artists that affect their earnings, experts explain. That’s especially true for older artists who signed contracts decades ago, when the industry was especially known for taking advantage of singers.

    Further complicating matters: The artist contracts back in the day didn’t anticipate the advent of everything from digital platforms like Spotify to ringtones, all sources of royalty revenue, experts note. And while there might have been clauses that allowed for the potential of such future sources, there’s no saying those arrangements were fair.

    ‘It takes a lot of streams to make money.’


    — Entertainment attorney Lisa Alter

    Contracts can be renegotiated, of course — and often are, particularly if a label is trying to stay on good terms with an artist in anticipation of keeping them signed and making more hit records, industry professionals observe.

    But when it comes to something like Spotify, the royalties still may not amount to much — reports say they can be between $0.003 to $0.005 per stream. And even then, the artist is splitting that streaming revenue with the record label.

    “It takes a lot of streams to make money,” Lisa Alter, a partner and entertainment attorney with the New York-based firm Alter, Kendrick & Baron, told MarketWatch.

    Schulhof throws another wrinkle into the equation: Often, a contract renegotiation involves the recording artist getting an upfront payment from the label in advance of future royalties. So, in theory, an artist like Brenda Lee could be receiving nothing in 2023 from her label, with the money having been paid out years ago, Schulhof said.

    Lee can still mine her chart-topping success in other ways, however. Namely, through concert engagements, personal appearances and film, TV and advertising opportunities. Schulhof said that could easily add $100,000 to $150,000 in earnings this year, but probably not more.

    But Holly Gleason, a veteran music journalist who knows Lee personally, said Lee is both “cute-as-a-button crazy” and sharp and smart — in other words, just the formula that would make her someone in demand for a variety of opportunities and someone who would know how to mine them properly.

    And Gleason told MarketWatch that those opportunities could be endless. “Maybe she’ll be on QVC selling Christmas trees,” Gleason said.

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  • Spotify announces third and largest round of layoffs

    Spotify announces third and largest round of layoffs

    Spotify Technology SA on Monday said it plans to reduce head count by 17%, which would mark the third time the audio streaming group has announced layoffs cuts this year.

    The Wall Street Journal said the cuts would equate to about 1,500 jobs.

    The move was announced by Chief Executive Officer Daniel Elk in a letter to employees that was posted on the company’s website.

    “Economic growth has slowed dramatically and capital has become more expensive. Spotify is not an exception to these realities,” he said, adding that the “painful” cuts were needed to align the company with “future goals and ensure we are right-sized for the challenges ahead.”

    Spotify
    SPOT,
    -2.39%

    previously announced 200 workers would be laid off in June and 600 workers in January.

    Elk said that he realized the new reductions seem “surprisingly large, given the recent positive earnings report and the company’s performance” — shares have soared 128% in 2023.

    Analysts have credited Spotify’s share performance this year to strong growth and improved profitability, but Citi downgraded the stock last week, saying risk-reward is no longer attractive.

    “We debated making smaller reductions throughout 2024 and 2025. Yet, considering the gap between our financial goal state and our current operational costs, I decided that a substantial action to rightsize our costs was the best option to accomplish our objectives,” he said.

    Elk explained that in 2020 and 2021, Spotify took advantage of lower costs of capital and “invested significantly,” for example in expanding the company’s team and enhancing conent.

    “These investments generally worked, contributing to Spotify’s increased output and the platform’s robust growth this past year. However, we now find ourselves in a very different environment. And despite our efforts to reduce costs this past year, our cost structure for where we need to be is still too big,” he said.

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  • Hamas releases first group of hostages under truce agreement with Israel

    Hamas releases first group of hostages under truce agreement with Israel

    DEIR AL-BALAH, Gaza Strip (AP) — Hamas released the first batch of hostages under a ceasefire deal that began Friday, including 13 Israelis who have been held in the Gaza Strip since the militant group staged a raid on Israel nearly seven weeks ago, according to officials and media reports.

    Twelve Thai nationals were also released, according to Thai Prime Minister Srettha Thavisin.

    Dozens of Palestinian prisoners are expected to be freed by Israel.

    The ceasefire between Israel and Hamas began Friday, setting the stage for the exchange and allowing sorely needed aid to start flowing into Gaza.

    Don’t miss: A secret line of communication and a pivotal U.S. role: How the hostage-release deal evolved — and nearly fell apart — in final days

    There were no reports of fighting after the truce began. The deal offered some relief for Gaza’s 2.3 million people, who have endured weeks of Israeli bombardment and dwindling supplies of basic necessities, as well as for families in Israel worried about loved ones taken captive during Hamas’s Oct. 7 attack, which triggered the war.

    The truce raised hopes of eventually winding down the conflict, which has flattened vast swaths of Gaza, fueled a surge of violence in the occupied West Bank and stirred fears of a wider conflagration across the Middle East. Israel, however, has said it is determined to resume its massive offensive once the ceasefire ends.

    Under the deal, Gaza’s ruling Hamas group pledged to free at least 50 of the about 240 hostages it and other militants took in the Oct. 7 raid. In exchange, Hamas said Israel would free 150 Palestinian prisoners.

    It was not expected that captive Americans would be among those released late Friday afternoon, but the Biden White House said in a statement that it continued to work to ensure that U.S. nationals, including an Israeli-American girl who turns 4 on Friday, are among the initial 50.

    Both sides agreed to release women and children first, in stages starting Friday, and as planned 13 Israelis were released, according to Israeli media, citing security officials. An Israeli official, meanwhile, confirmed that the Thai captives left Gaza and were en route to a hospital in Israel.

    The official spoke on condition of anonymity because she was not authorized to discuss the releases with the media.

    Israel said the deal calls for the truce to be extended an extra day for every additional 10 hostages freed.

    Early in the day, ambulances were seen arriving at the Hatzerim air base in southern Israel, preparing for the release. Those freed will then be taken to hospitals for assessment and treatment, Israeli officials said.

    See: Ambulances positioned at Israeli military base ahead of Hamas hostage release

    Among the Israeli citizens freed some have a second nationality, according to a Hamas official who spoke on condition of anonymity because he was not authorized to discuss details with the media.

    Israel’s Justice Ministry published a list of 300 Palestinian prisoners eligible for release. Thirty-nine — 24 women, including some convicted of attempted murder for attacks on Israeli forces, and 15 teenagers jailed for offenses like throwing stones — were expected to be freed Friday, Palestinian authorities said.

    On Friday, the truce brought quiet after weeks in which Gaza saw heavy bombardment and artillery fire daily as well as street fighting as ground troops advanced through neighborhoods in the north. The last report of air-raid sirens in Israeli towns near the territory came shortly after the truce took effect.

    Not long after, four tankers with fuel and four with cooking gas entered the Gaza Strip from Egypt, Israel said.

    Israel has agreed to allow the delivery of 130,000 liters, or 34,340 gallons, of fuel per day during the truce — still only a small portion of Gaza’s estimated daily needs of more than 1 million liters.

    For most of the past seven weeks of war, Israel had barred the entry of fuel to Gaza, claiming it could be used by Hamas for military purposes — though it has occasionally allowed small amounts in.

    U.N. aid agencies pushed back against the claim, saying fuel deliveries were closely supervised and urgently needed to avert a humanitarian catastrophe since fuel is required to run generators that power water-treatment facilities, hospitals and other critical infrastructure.

    The Israeli military dropped leaflets over southern Gaza, warning hundreds of thousands of displaced Palestinians who sought refuge there not to return to their homes in the territory’s north, the focus of Israel’s ground offensive.

    Even though Israel warned that it would block such attempts, hundreds of Palestinians could be seen walking north Friday.

    Two were shot and killed by Israeli troops and another 11 were wounded. An Associated Press journalist saw the two bodies and the wounded as they arrived at a hospital.

    Sofian Abu Amer, who had fled Gaza City, said he decided to risk heading north to check on his home.

    “We don’t have enough clothes, food and drinks,” he said. “The situation is disastrous. It’s better for a person to die.”

    The hope is that “momentum” from the deal will lead to an “end to this violence,” said Majed al-Ansari, a spokesman for the Foreign Ministry of Qatar, which served as a mediator along with the United States and Egypt.

    But hours before it came into effect, Israeli Defense Minister Yoav Gallant was quoted telling troops that their respite would be short and that the war would resume with intensity and continue for at least two more months.

    Prime Minister Benjamin Netanyahu has also vowed to continue the war to destroy Hamas’s military capabilities, end its 16-year rule in Gaza and return all the hostages.

    Israel’s northern border with Lebanon was also quiet on Friday, a day after the militant Hezbollah group, an ally of Hamas, carried out the highest number of attacks in one day since fighting there began Oct. 8.

    Hezbollah is not a party to the ceasefire agreement but was widely expected to halt its attacks.

    The war erupted when several thousand Hamas militants stormed into southern Israel, killing at least 1,200 people, mostly civilians, and taking scores of hostages, including babies, women and older adults, as well as soldiers.

    The soldiers will only be released in exchange for all Palestinians imprisoned by Israel, according to the Islamic Jihad militant group, which is reportedly holding about 40 hostages.

    It is not clear how many of the hostages are currently serving in the military or whether the militants also consider reserve soldiers to be “military hostages.”

    According to the Palestinian Prisoners’ Club, an advocacy group, Israel is currently holding 7,200 Palestinians on security charges or convictions, including about 2,000 arrested since the start of the war.

    The Israeli offensive has killed more than 13,300 Palestinians, according to the Health Ministry in Hamas-ruled Gaza, which resumed its detailed count of casualties in Gaza after stopping for weeks because of the health system’s collapse in the north.

    The ministry says some 6,000 people have been reported missing, feared buried under rubble.

    The ministry does not differentiate between civilians and militants in its death tolls. Women and minors have consistently made up around two-thirds of the dead, though the new number was not broken down. The figure does not include updated numbers from hospitals in the north.

    Israel says it has killed thousands of Hamas fighters, without presenting evidence for its count.

    MarketWatch contributed.

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  • Musk Strategy to Contain Anti-Semitism Fallout Is to Go ‘Thermonuclear’

    Musk Strategy to Contain Anti-Semitism Fallout Is to Go ‘Thermonuclear’

    Elon Musk employed an aggressive strategy—including the threat of a “thermonuclear” lawsuit— to contain the fallout after his endorsement of anti-Semitic rhetoric on X that prompted an advertising backlash at the billionaire’s social media company and some on Wall Street to call for his censure.

    [ad_2]
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  • Elon Musk’s X apocalyptic moment

    Elon Musk’s X apocalyptic moment

    Is this the beginning of the end for X, the social-media site previously known as Twitter?

    In the last two days, major advertisers, ranging from IBM Corp. IBM, Apple Inc. AAPL, Lions Gate Entertainment Corp. LGF.A, Walt Disney Co. DIS, even the European Union, have pulled their ads from X, after Elon Musk appeared to endorse antisemitic conspiracy theories and because these big spenders weren’t thrilled with the algorithm’s product placement nestled alongside pro-Nazi posts.

    Earlier…

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  • IBM pulls ads from X after Elon Musk’s incendiary comments over white pride

    IBM pulls ads from X after Elon Musk’s incendiary comments over white pride

    IBM Corp.
    IBM,
    +0.31%

    has abruptly pulled ads from X, formerly Twitter, amid a maelstrom of controversial comments from billionaire owner Elon Musk and the placement of IBM ads.

    “IBM has zero tolerance for hate speech and discrimination and we have immediately suspended all advertising on X while we investigate this entirely unacceptable situation,” the company said in a statement emailed to MarketWatch.

    IBM suspended advertising following a report by the Financial Times on Thursday that IBM ads appeared next to posts supporting Adolf Hitler and the Nazi Party. A Media Matters study also found ads from Apple Inc.
    AAPL,
    +0.90%
    ,
    Oracle Corp.
    ORCL,
    +0.53%
    ,
    and Comcast Corp.’s
    CMCSA,
    -0.28%

    Xfinity and Bravo were adjacent to pro-Nazi content.

    On Wednesday, Musk agreed with a post on X supportive of an antisemitic conspiracy theory that Jewish people hold a “dialectical hatred” of white people. “You have said the actual truth,” Musk wrote in response to the post.

    Compounding matters, Musk on Thursday said on X it was “super messed up” that white people are not, in the words of one far-right user’s tweet, “allowed to be proud of their race.”

    Adding fuel to the fire, Musk said on Wednesday that the Jewish advocacy group the Anti-Defamation League “unjustly attacks the majority of the West, despite the majority of the West supporting the Jewish people and Israel.” (Musk has threatened to sue the ADL because of its criticism of lax moderation practices on X that it says have allowed antisemitism to spread.)

    The cascading conflagration prompted Tesla Inc.
    TSLA,
    -3.81%

    bull and investment adviser Ross Gerber to grumble on X: “Getting a flood of messages from clients wanting out of tesla and anything to do with Elon Musk. Many saying they are selling their cars as well. What is he doing to the tesla brand??!!?!?”

    Earlier this year, Gerber backed down from his “friendly activist” efforts to join Tesla’s board, saying he felt his concerns had been addressed. His firm, Gerber Kawasaki Wealth and Investment Management, has its own ETF, AdvisorShares Gerber Kawasaki 
    GK,
     which has Tesla as its top investment, and has attracted many clients with Tesla shares in its portfolios

    In an interview on CNBC late Thursday, Gerber said that while he is not selling his Tesla stock, ” I’m not going to mince words about it anymore as a shareholder. It’s absolutely outrageous, his behavior and the damage he’s caused to the brand.”

    Gerber said Musk has essentially abdicated his responsibilities as Tesla CEO: “It’s all about Twitter, and what he can tweet, and how many people he can piss off… What’s going to happen to Tesla over the next 10 years, are they gonna achieve their mission if the CEO isn’t actually the CEO? Because he’s certainly not acting as the CEO of Tesla.”

    An X executive told MarketWatch that the company did a “sweep” of the accounts next to the IBM ads. Those accounts “will no longer be monetizable” and specific posts will be labeled “Sensitive Media.”

    The executive said 99% of measured ad placements on X this year have appeared adjacent to content scoring “above the brand safety floor” criteria set by industry standards.

    Late Thursday, X’s chief executive, Linda Yaccarino, tweeted: “X’s point of view has always been very clear that discrimination by everyone should STOP across the board — I think that’s something we can and should all agree on. When it comes to this platform — X has also been extremely clear about our efforts to combat antisemitism and discrimination. There’s no place for it anywhere in the world — it’s ugly and wrong. Full stop.”

    The posts and ad placement come amid a wave of antisemitism on digital forums including X and a downturn in advertising on the platform linked to hate speech and misinformation. Musk said in July that ad revenue had plunged about 50%.

    The latest kerfuffle is likely to complicate the efforts of Yaccarino, who was hired in June from Comcast Corp.’s
    CMCSA,
    -0.28%

    NBCUniversal to sway advertising agencies and major brands to stay on, or initiate relationships with, the platform now known as X.

    Tesla shares fell nearly 4% on Thursday but are still up about 90% to date in 2023.

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