CNBC Markets Now: June 9, 2025
CNBC Markets Now provides a look at the day's market moves with commentary and analysis from Michael Santoli, CNBC Senior Markets Commentator.
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Yahoo
2 hours ago
- Yahoo
Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level'
Steph Curry's house-of-brands conglomerate Thirty Ink generated $173.5 million in revenue in 2024, the company told CNBC on Wednesday. Thirty Ink owns Unanimous Media, Gentleman's Cut bourbon, and Underrated Golf and Basketball. However, the highest percentage of the company's revenue comes from Curry's partnership with Under Armour (NYSE:UAA, UA)). There, the NBA star is president of Curry Brand, a basketball and golf footwear and apparel line. As a part of the 2023 deal with the sportswear company, Curry was given 8.8 million common shares, which were valued at $75 million at the time. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . The company said that while it incurs annual expenses for using Curry's name, image, and likeness, it doesn't rack up traditional bottom-line operational costs, which allows for its exorbitant earnings. Thirty Ink's secretary chair, Suresh Singh, told CNBC that every brand under the company's umbrella is profitable. "It's completely unique. One of the big things, I believe, is that there's a lot of athlete- and celebrity-driven partnerships and businesses that aren't necessarily focused on profit, aren't necessarily focused on mission. We do both," he said. "Obviously, from a national perspective, a lot of the narrative is trying to peel back programs and opportunities that are programs and resources that are allowing people to have just a fair shot and a fair chance," Curry said in an interview with CNBC. "Everything that we do and what I can control is about true equity. If you look at all of our businesses — our DEI writers for Unanimous, or even looking at something like the Underrated brand — it's about creating true representation and opportunity from a grassroots level." Trending: Wall Street's Missing This AI Surgical Tech — You Don't Have To. "All that stuff is important to me. I want to actually walk the walk and live it. And hopefully that's an example for how our country should," he told CNBC. Thirty Ink's mission is to "elevate the under" according to its website, a goal that manifests differently for every brand. Unanimous Media co-founder and co-CEO Eric Peyton told CNBC that it looks like hiring diverse writers to create projects about family, faith and sports. "[Curry's] vision is to inspire through media," he said. It's really a feeling when you watch our projects, hopefully you're a little bit happier, you know, maybe it makes you feel a little bit better." Unanimous Media is currently four years into a first-look deal with Comcast's (NASDAQ:CMCSA) NBC Universal unit. Next year, it will release its first full-length feature film, "GOAT," with Sony Pictures Animation. With Gentlemen's Cut and Underrated Golf and Basketball, that mission expresses itself as a commitment to DEI. Gentlemen's Cut was in talks with a buyer who wanted to feature Black-owned businesses, in 2024. The Trump administration's crackdown on DEI squashed the deal, but it would have valued the business between $120 million and $200 million, a source told CNBC. Underrated Golf, according to the company's website, is specifically designed to give Black children an opportunity to participate in a sport that hasn't historically catered to them. Read Next: Invest where it hurts — and help millions heal:. Here's what Americans think you need to be considered wealthy. Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? COMCAST (CMCSA): Free Stock Analysis Report This article Steph Curry's Thirty Ink Generates $174 Million In 2024, 'It's About Creating True Representation And Opportunity From A Grassroots Level' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
2 hours ago
- CNBC
Jim Cramer says Circle Internet stock is 'too hot' to buy up here
CNBC's Jim Cramer on Monday examined Circle Internet, a stablecoin issuer that made a splash during its market debut last week, saying he'd wait to buy the stock until it has retreated from recent highs. "Circle Internet Group's a solid company, but the stock, right now, has gotten too hot for me. I can't recommend it up here," he said. "Why don't you let it cool off before you even think about pulling the trigger." Circle Internet founded USDC, a dollar-pegged stablecoin meant to act as fiat money on the internet. USDC is the second-largest stablecoin on the market behind Tether's USDT. The stock opened at $69 last Thursday after being priced at $31, and shares soared 168% during the session. Cramer likened stablecoins to casino chips in the crypto currency space, explaining that they can be used to buy other cyrpto currencies like Bitcoin and Ethereum, but retain their value. According to Cramer, Circle Internet's stablecoin business is more transparent than that of Tether, saying it's unclear what the latter is doing with its reserves. USDC, however, is backed by genuine reserves of fiat currency, with Cramer calling it "a more sanitized, less-sketchy version of the stablecoin concept." He was also impressed with Circle Internet's financials, saying it seems business is good and USDC is popular. But it's hard to justify buying shares when the company's valuation has swelled dramatically, from $5.5 billion to around $25 billion in a matter of weeks, Cramer said. Plus, he continued, the company is still linked to the ever-volatile crypto ecosystem, telling investors they'll "get a better buying opportunity simply by being patient." Cramer warned that the IPO market in general is "starting to get a little crazy here," pointing to CoreWeave, an artificial intelligence infrastructure outfit that went public in March. The Nvidia-backed company was the biggest tech IPO in the U.S. since 2021, and it closed flat at $40 after its first day of trading. But now the stock trades at about $162, which Cramer said he finds to be a little extreme. "This is the type of action that gets people hurt, so I need you to be a little careful." Circle Internet and Tether did not immediately respond to request for comment. Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest
CNBC
3 hours ago
- CNBC
Stock futures are little changed as investors await details on U.S.-China trade policy: Live updates
Traders work at the New York Stock Exchange on June 4, 2025. NYSE Stock futures are near flat on Monday night as investors waited for more insight on trade discussions between the U.S. and China. Dow Jones Industrial Average futures add 25 points points, or 0.1%. S&P 500 futures and Nasdaq 100 futures each also rose 0.1%. Those moves follow a muted day on Wall Street as investors kept an eye on a day of trade talks between officials from the two countries. The discussion is slated to resume on Tuesday morning, a source familiar with the situation told CNBC. The S&P 500 added nearly 0.1% in the regular trading session, eking out its second straight winning day. The Dow ended marginally below its flatline, while the Nasdaq Composite ticked higher by around 0.3%. Traders are monitoring the U.S.-China discussions for signs of a deal that doesn't involve the countries enforcing lofty tariffs on one another. Both nations agreed last month to temporarily slash their duties, which was seen as a major breakthrough in trade negotiations after U.S. President Donald Trump unveiled his plan for broad and steep levies on imports. "I think most people are assuming that some conversation is better than nothing, that we're making progress," said Adam Parker, founder of Trivariate Research, on CNBC's "Closing Bell." Because of that, "people aren't … wanting to sell stocks." Investors will watch Tuesday for small business data due in the morning. That comes ahead of closely watched reports on consumer and producer inflation slated for later in the week. Companies slated to report quarterly earnings Tuesday include J. M. Smucker Co. and GameStop . Futures tied to the Dow, S&P 500 and Nasdaq 100 all traded up by about 0.1% shortly after 6 p.m. ET on Monday night. — Alex Harring
