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CNBC
20-05-2025
- Business
- CNBC
Josh Brown says AI is more important than tariffs to the stock market
Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor , said Tuesday the most important theme for the stock market right now is not tariffs, but rather artificial intelligence. "The most important thing to come out of this past earnings report is that AI is more important than tariffs to the stock market," Brown said on CNBC's " Halftime Report ." Citing JPMorgan research, the widely followed investor noted that the term "AI" was mentioned 2.6 times more often than the word "tariff" in this last round of S & P 500 earnings reports. Brown said those Big Tech companies affirming or even raising guidance saved the entire stock market from the massive turmoil in April. For example, Microsoft issued surprisingly strong guidance at the end of April, lifting shares up more than 20% this quarter. Meta was one of the companies that increased its 2025 capital expenditures. "This is an AI driven tape. This is still the most important theme in the entire market," Brown said. "Yes, there are other themes. Yes, there are other sectors doing well, but absent AI, there's just no chance that we would have pulled this this spring out of the hole the way that we have, and that's because of the affirmed guidance." Brown said he's bullish on chipmaker Nvidia headed into its quarterly earnings next week, calling it the most important company in the AI story. "It's the sun, and AI is a solar system, revolving around it," Brown said, referring to Nvidia. (For "The Best Stocks in the Market" from Josh Brown and team, see here.) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
15-05-2025
- Business
- CNBC
Best stocks: This software name is a category killer and has broken out
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh: Today we're spotlighting a stock you've probably heard me talking about on CNBC over the past few years, Toast (TOST) . For the first time ever, Toast has hit our list of the Best Stocks in the Market . Sean was really excited to write this one up and I was excited to read his take on the fundamental story. My take is very simple — I believe this company has reached the point where it is an established, acknowledged category killer. I love catching stories like these in the earlier stages, before everyone figures out the dominant player is going to have advantages that become cumulative. This is where the Toast story is now. The more penetration they get into a given metropolitan area, the more local service industry workers (and their employers) are comfortable using the software within their counter service or restaurant business. Toast becomes the de facto default option for point-of-sale payment systems. Everyone is trained on it and it becomes entrenched. Once Toast gets to a certain threshold within these markets, it's a wrap. They are then able to knock down the rest of local players and the sales cycle gets shorter and easier. Next they can sell all sorts of horizontal software solutions to the same population of customers — food ordering, staff tracking, payroll, etc. Writing about the company's most recent quarterly report last week, Mizuho analyst Dan Dolev cited the company's ability to defy the "difficult environment" for restaurants and relay strong guidance while giants McDonalds, Sweetgreen and Chipotle were posting warnings. Dan was bullish about Toast's increased take rate as well — they kept 48 basis points of all transaction revenue on their platform (1 basis point equals 0.01%). He sees even more opportunity on this front as contracts with customer-restaurants are renegotiated. I originally put this position on for myself as a trade a long time ago but the more I saw these guys execute, the more I wanted to stay. Now I consider myself a long-term investor in the name. Best Stock Spotlight: Toast Inc (TOST) On the list since: May 13th, 2025 Sean: TOST is a digital platform for 140,000-plus restaurants, generating revenue from subscription fees and transaction fees. Unlike its competitors, Toast intermediates every payment transaction on its platform; it processed more than $150 billion in gross platform volume in 2024. TOST is digitizing the fragmented and highly competitive restaurant industry, and the stock is breaking out. TOST just broke out above its November 2024 high of $43. TOST hasn't traded above the $45 mark since November of 2021. Similar to Monday's Best Stocks in the Market piece on Carvana, TOST has spent a lot of time below all time highs. TOST has been a public company since September of 2021, equal to 916 trading days. Of those 916 trading days, TOST saw an all time high on just 3 of them, and the first 2 all-time highs came on the first and second day of trading. It's last all time high occurred on November 3rd of 2021 — 885 days ago. TOST's all-time low came in May of 2022 in the midst of the hottest run of inflation prints the market had seen since the early 80s. Investors priced in a reduction of restaurant spending by consumers because of this inflation. A recession became the base case for nearly 100% of economists. Those economists were wrong, and we saw the hottest spending trends come into the service category. In 2023, consumer spending on food away from home increased to $1.5 trillion, up from $1.3 trillion in 2022, marking a significant shift as dining out expenditures surpassed grocery spending. TOST is up 254% off its 2022 low. TOST hit $43 in November as the animal spirits about the U.S. economy came roaring into the headlines. From that November level, TOST hit a low of $30 on April 8th, down 30% from November, again reflecting worries about the U.S. consumer and their ability to spend with an ongoing trade war. Again, we're seeing economists throw the recession word around. And again, TOST is shrugging off those worries. High-growth stock TOST is a high-growth business. It has compounded its top line revenue by 48% annually going back to 2020. Their profitability is growing too. Looking at its operating margin from Q4 of 2023 through Q1 of 2025, its gone from -4.1% to 3.7%, growing profitability by 780 basis points. Part of the reason why TOST landed on our list is the outstanding earnings call it just reported. TOST delivered record Q1 2025 results with 31% annual recurring revenue growth, 22% gross payment volume growth, and profitability driven by strong customer spending and massive enterprise wins. TOST added 6,000 net new locations bringing the total to 140,000 locations, which is a 25% YoY increase. Toast's profitability margins have improved significantly. Gross profit margin increased from 20.5% in Q4 2022 to 25.9% in Q1 2025. Operating margin turned positive, going from -12.9% to 3.2%. Net profit margins improved from -12.9% to 4.19%, and EBITDA margin grew from -12.1% to 10.0% over the same period. (data via QUARTR) TOST also reported a partnership with Applebee's, which represents the company's largest deal to date. The enterprise pipeline is described as the strongest it has ever been for TOST, with ongoing conversations with other large brands. The economics of these enterprise deals are super beneficial for TOST, with large value-add ARR opportunities and lower churn rates for larger customers. TOST reported these numbers on May 8, and the stock was up 11.4% the next day. From April 8th through 5/14 the stock is up 50%. The market is pricing in this growth, and the stock is in breakout mode. Risk Management Josh: My instinct here is the stock pulls back and retests the recent breakout. If the volume is light and the buyers come in to defend that gap ($39.75), that becomes the new support and we could be off to the races. If Toast gets back into the gap and fills it, you're back in the $35-$37 range, coincidentally the rising 200-day is there to cushion the fall as well (see below). Toast has been a volatile stock as investors doubted the company's commitment to reaching consistent profitability. Now those doubts are fading away and my hope would be that the volatility can fade with them. DISCLOSURES: Josh owns the stock All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
CNBC
05-05-2025
- Business
- CNBC
Best Stocks: Two tech names bucking the market turbulence with businesses that can beat a recession
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh here — This week we have a few new entrants to the Best Stocks in the Market list I keep with Sean, including two stocks I own personally as a long-term shareholder: CrowdStrike and Uber . These names are among the best performers of the year so far and have been rallying for weeks now. The broad comeback for markets last week was certainly felt among the stocks on our list. Interestingly, utilities remained one of the largest and most consistent pockets of leadership within the Russell 3000 even as more stocks from other sectors work their way back toward the old highs. Sector Leaderboard As of the morning of May 5, there are 72 names on The Best Stocks in the Market list Top 5 Best Stocks by Relative Strength: RBLX , 78 NFLX , 76 CAH , 76 VRSN , 75 APH , 74 New additions: CrowdStrike, Uber Added: CrowdStrike Holdings Inc (CRWD) Date Added: 5/2/2025 Josh: CrowdStrike doesn't necessarily rely on rallies for AI-related stocks and the Mag 7 - it's had a much better year than pretty much all of them. But when the 'animal spirits' around the AI theme come alive again, investors tend to remember that there is no AI theme without massive, consistent and continued spending on cybersecurity. Last week we heard from Meta, Microsoft and Amazon that their AI spending plans for the second half of this year are not only intact, they might prove to be conservative. Cyber stocks built on the recent rally and CRWD has now retraced almost the entire sell-off since the Nasdaq topped in February. CrowdStrike is not a value stock or a consumer staple, but it has been relatively defensive versus the rest of the technology sector while the market has sold off. It has also more than held its own as the bear turned into a bull. This is the very definition of what it means to be a Best Stock . Welcome to the list. Sean: CrowdStrike is widely regarded as one of the premier cybersecurity companies in the world, specializing in cloud-delivered protection of endpoints, workloads, identities, and data. Its flagship platform, Falcon, is built on a scalable architecture that continuously analyzes billions of events in real time, enabling proactive threat detection and response. CRWD checks the boxes of AI, cybersecurity, and more recently, momentum. CrowdStrike closed above its July 2024 outage level, and is nearing its recent all time high prior to so-called Liberation Day in early April when President Donald Trump rolled out super-sized tariffs before later walking most of them back. The market bottomed on April 9 and CRWD is up 17% from that day, making it the 19th best performing S & P 500 stock from the trough. CRWD has some of the highest customer retention rates and growth rates across the cyber landscape. CRWD's last 4 quarters of YoY revenue growth were 33%, 32%, 29%, and 25%, respectively. As of CRWD's last earnings report, they earn 80% gross margins, leading to 21% operating margins and a 27% free cash flow margin. Crowdstrike's earnings are growing, but they're also higher quality as their products are billed on a recurring basis. As of Q4 2025, CRWD earned $1.3B in ARR (annual recurring revenue), up 50% YoY. ARR is considered higher quality because it reflects predictable, contract-based revenue streams that provide greater visibility and stability compared to one-time or transactional sales. Importantly, CrowdStrike's business model is inherently resilient to global trade dynamics, including tariffs. Unlike hardware-based companies that manufacture and ship physical goods across borders, CrowdStrike operates entirely within a digital infrastructure. Its product is delivered via the cloud, meaning it requires no international shipping, warehousing, or physical supply chain exposure. CRWD has exceeded earnings per share expectations for its last four quarters by an average of 10%. Last quarter, the company beat by almost 20%. Risk Management: Josh: Short term traders may want to rely on the $400 level, where it's beginning to form support. Longer term investors can look for the 200 day moving average - around $335 for a stop loss. Crowdstrike reports on Tuesday, June 3rd after the market's close. Expect the typical tech stock volatility around that report. Added: Uber Technologies Inc (UBER) Date Added: 5/2/2025 Sean: Uber is the fifth best performing stock in the S & P 500 this year, up 40%. It's the second best performing stock in the S & P Tech sector year-to-date, trailing only Palantir up 64% this year, and it's the second best performing stock in the S & P Industrials sector behind Howmet Aerospace, up 41% YTD. (There is some disagreement amongst the classification community as to what UBERs sector truly is.) UBER is executing at an incredibly high level. The company reported its strongest quarter ever in Q4 2024. The company achieved record demand in both mobility and delivery segments, surpassing its three-year outlook for gross bookings, adjusted EBITDA, and free cash flow. UBER also entered into an accelerated share repurchase agreement to buy back $1.5 billion of common stock. UBER trades at a trailing 18x price to earnings and a forward 20x price to earnings, both cheaper than current S & P 500 valuations. On a price to free cash flow basis, UBER trades at a 26x multiple, much lower than its 3yr median multiple of 49x. As UBER continues to execute, the stock is starting to see incremental buyers come in. From the start of 2024 through 'Liberation Day,' the stock was up 13% in total return, underperforming the S & P 500 which returned 15% the same period. Since 'Liberation Day' through today, UBER is up 21% vs 6% for the S & P 500. Interestingly, as the recession whispers get louder, UBER is getting stronger. There is a known dichotomy between UBER and recessions called the trade-down effect. Recessions typically expand the pool of gig economy workers. As job losses mount and people seek alternative income streams, Uber sees a surge in new drivers joining the platform. This deeper driver pool enhances service reliability, shortens rider wait times, and can alleviate pricing spikes, improving customer experience and keeping riders in the app. It's worth pointing out that Uber was born in the midst of the worst recession in decades, the Great Financial Crisis of 2008. Uber's diversified service offerings also provide resilience. Even if riders downgrade from premium tiers to lower-cost options like UberX, the company retains their business and maintains engagement on the platform. This flexibility allows Uber to capture a broad spectrum of demand, ensuring it remains a go-to transportation option even as consumer budgets shrink. In combination, these factors could position Uber well to absorb economic shocks, gain market share, and strengthen its two-sided marketplace during periods of macro uncertainty. And with a reasonable valuation, a capable management team, higher-than-market earnings growth, and momentum providing a tailwind, Uber is in a great position. Risk Management: Josh: Short term traders can look to cut losses around the $80 mark while longer term investors should keep a close eye on the $75 level - a key area of support the past year. Uber reports earnings before the market opens on Wednesday, May 7th. Risk-averse investors sometimes opt to sit these events out given the binary nature of market reactions to these reports. The risk of doing so is missing out if the company can positively shock the market with a beat and raise. The benefit is not starting out with a big drawdown should the company disappoint. One solution to this conundrum is to start a position in stages if one is highly sensitive to short-term volatility. DISCLOSURES: Josh personally owns Uber, CrowdStrike All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Daily Mirror
27-04-2025
- Entertainment
- Daily Mirror
Judd Trump nets £100k bonus for hitting 100 centuries in same season
Snooker star Judd Trump is £100,000 richer after he struck his 99th and 100th centuries of the season this evening against Shaun Murphy at the Crucible Judd Trump has netted an eye-watering £100,000 bonus after recording a century of centuries over the course of the season. The 35-year-old struck his 99th and 100th breaks of 100 or over this evening against Shaun Murphy. Trump is playing at the World Championship, where he was the pre-tournament favourite to win a second Crucible crown. Having seen off Zhou Yuelong in the first round, he was paired with fellow ex-champion Murphy in round two. He took a slender 5-3 advantage into the second session and threatened two century breaks only to break down before reaching the 100 mark. Trump held a 7-6 advantage going into the 14th frame and produced a sublime break of 106 with numerous balls in unfavourable positions. He then backed that up with a 132 total clearance in the 15th to win the bonus. The Ace in the Pack was afforded a standing ovation by the Crucible crowd as he allowed himself a smile and a fist pump, while opponent Murphy also applauded. It's the second time Trump has achieved the feat, with Neil Robertson the only other player in history to manage it, although no bonus was on offer on either previous occasion. It comes after Mark Allen struck the tournament's only 147 so far earlier this week, trousering himself a £40,000 bonus. He also takes a third of the high break prize, owing to two maximums by Jackson Page in Crucible qualifying. The Welshman became the first player ever to score two breaks of 147 in the first match, netting a £147,000 bonus in the process. The extra money was available to any player who could strike two maximum breaks across snooker's Triple Crown events - the UK Championship, Masters and World Championship. Allen's maximum also won a crowd member £25,000. Someone watching in the Crucible is selected at random before each session and, should a 147 be scored on either side of the partition, they scoop the prize courtesy of tournament sponsors Midnite. "To do it for the fan who won £25,000, it was a nice break," Allen told TNT Sports. "I was commentating the other day and saw someone had a chance, Dave Gilbert, but they broke down. "It kept panning to the guy in the crowd who was picked for that day. Fair play, it is a great initiative. It is a great buzz."
Tatler Asia
21-04-2025
- Tatler Asia
The irresistible appeal of the agricultural tourism trend
In Asia, Japan stands out for its well-established agritourism offerings. Hokkaido is celebrated for its sweeping dairy farms and dreamy flower fields, while Nagano is noted for its apple orchards and golden barley. Other provinces such as Wakayama delight visitors with peach, citrus, and Japanese apricot orchards—not to mention mesmerising sunset vistas. South Korea, too, is investing in agritourism across many provinces. Jeju Island remains a favourite, offering farm stays, tea plantation visits and fruit-picking experiences. Gangwon-do, with its mountainous terrain and patchwork of potato and corn fields, offers a more rustic retreat. It also serves as a backdrop for beloved Korean dramas, making it a must-visit for those seeking nature and nostalgia in equal measure. In Vietnam, Moc Chau is among the destinations drawing growing numbers of visitors, owing to its rich natural charm and cultural heritage. In spring, the hills come alive with apricot and plum blossoms in full bloom, while traditional festivals lend a festive air that appeals to travellers. As summer unfolds, the district is awash with the crimson hue of ripening plums and the vivid green of tea-covered slopes. Come autumn, Moc Chau is animated with festivals and cultural celebrations, while in winter, the landscape softens under a blanket of white mustard flowers, dotted with the golden glow of wild sunflowers. Mang Den, too, has enjoyed a surge in popularity in recent years. Once little known among tourists, it has since become a favourite spot for photo opportunities on social media. In early 2025, the blush of cherry blossoms lured nearly 230,000 visitors, generating around VND80 billion in revenue. Looking ahead, Kon Plong district has plans to plant one million cherry blossom trees, with aspirations of transforming Mang Den into a town known for its flowering canopies. Agritourism: An inevitable outcome towards sustainable agricultural and tourism development For travellers, agritourism offers more than novelty—it fosters physical and emotional wellbeing. As highlighted by VerywellMind, gardening activities are particularly effective in relieving stress, enhancing physical health and encouraging social interaction. Spending time immersed in natural surroundings has also been linked to a surge in creative thinking and improved problem-solving abilities. The study Creativity in the Wild: Improving Creative Reasoning Through Immersion in Natural Settings noted the positive impact of unplugging from technology and reconnecting with nature, including elevated moods and mental clarity. You might be interested in: 'Shukubo stay' travel trend: Minimalist living, sleeping in a temple, eating like a monk Beyond offering visitors a genuine and memorable experience, agritourism supports local communities, small enterprises and the sustainable growth of the tourism sector. Travelling to regions rich in scenic beauty and agricultural traditions contributes directly to livelihoods and economic vitality. Vietnam, with its varied terrain, abundant ecosystems and layered cultural history, holds immense potential in this area. When nurtured through thoughtful investment and planning, agritourism could emerge as a key draw for both domestic and international visitors. More than just a trend, this form of travel helps preserve the distinctive cultural character of each region, highlighting local identities while offering a unique competitive edge in a crowded tourism market. Many localities are now prioritising service upgrades, with a view to delivering more refined resort experiences and wellness-focused stays.
