‘Gamechanger’ — billionaire investor just got a lot less bullish on the market

Chris Hayes Highlights The Irony Of DNC’s Desire For ‘Radical Transparency’

Chris Hayes on Monday suggested what he believes is the “grand irony” of the Iowa Democratic Party’s desire for more transparency and subsequent failure to release the results of the Iowa caucuses hours after they had ended.

The Iowa Democratic Party said it was performing “quality control” on the results, which it said it expected to release Tuesday.

The host of MSNBC’s “All In with Chris Hayes” noted during a panel discussion how the Democratic National Committee’s desire this year for “massive and radical transparency” required it “to report two new numbers, which are intermediary steps” in working out how many state delegates each candidate receives.

But it likely just ended up highlighting errors that had probably been in the system all along, he theorized.

Explained Hayes:

So you get a much more complicated process to report. I also think it’s possible that like a lot of these sheets math didn’t work and tonight was the first time it was being flagged because all the numbers are being reported. It seems to be possible that the transparency itself probably surfaced errors that were there in the past that are now popping up tonight.

Check out the clip here:

Goldman Sachs estimates modest hit to 2020 global growth from coronavirus

LONDON (Reuters) – Goldman Sachs says 2020 global growth will take a modest hit from the outbreak of coronavirus, assuming an aggressive response from authorities in China and elsewhere to bring the rate of new infections down sharply by the end of the first quarter.

Annual-average global GDP growth in 2020 will be downgraded by 0.1 to 0.2 percentage points, the bank estimated.

Who Really Won The Iowa Democratic Caucuses? Twitter Users Share Weird Theories

Who won Iowa’s Democratic caucuses on Monday? 

As of early Tuesday, no one knew for sure. But that didn’t stop some people from pretending they did. 

Former South Bend, Indiana, Mayor Pete Buttigieg said “all indications” showed he had won the first contest of the 2020 presidential campaign. Shortly afterward, the campaign of Sen. Bernie Sanders (I-Vt.) said it thought he had won. Sen. Elizabeth Warren’s (D-Mass.) campaign also believed she was still in the running. Early indications suggested former Vice President Joe Biden did not have a good night.  

Until the official results come in, it’s all just guesswork. Yet that didn’t stop the jokes on Twitter: 

WHO working on recommendations for resuming flights to China

GENEVA, Feb 4 (Reuters) – The World Health Organization is having a teleconference this week with travel and tourism industry representatives to work on recommendations on protecting their crews so they can resume flights to china, a WHO official said on Tuesday. (Reporting by Stephanie Nebehay; Editing by Andrew Heavens)

Royal Caribbean Cruise Sees Q1 Profit Below View

Royal Caribbean Cruises Ltd. (RCL) said it expects first quarter adjusted earnings per share to be in the range of $0.80 to $0.85 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.12 per share for the first-quarter. Analysts’ estimates typically exclude special items.

The company estimates 2020 adjusted earnings per share will be in the range of $10.40 to $10.70 per share. Analysts expect annual earnings of $10.47 per share.

The company said it has now cancelled 8 cruises out of China ending March 4th, and also modified certain itineraries in the region which overall have an estimated impact of $0.25 per share.

The company said its 20>25 by 2025 Program refers to the multi-year program designed to communicate and motivate employees to work towards company specific goals. The program includes several goals by 2025: delivering $20.00 adjusted earnings per share; further reducing the company’s carbon footprint by 25% against a 2019 base.

E.L.F. Beauty shares soar after upgrade based on market share gains from TikTok campaign

E.L.F. Beauty Inc. ELF, +3.95% stock soared 5.2% in Tuesday premarket trading after the cosmetics company was upgraded to overweight from neutral at Piper Sandler based on share gains, particularly among Gen Z, driven by a recent social media campaign. E.L.F. launched a TikTok campaign, #elfingamazing, in October, and the company has gotten more than 4 billion views since. At a recent beauty industry event that analysts attended, E.L.F. was a standout for its use of the TikTok platform. The company has also launched new products, one an extension of the popular Poreless Putty merchandise. "Too, we are encouraged by E.L.F.’s segmentation, with differing exclusives at top accounts (Walmart Inc. WMT, -0.19%, Ulta Beauty Inc. ULTA, +2.63% and Target Corp. TGT, +1.60%," Piper Sandler said. E.L.F. stock has skyrocketed more than 93% over the past year while the S&P 500 index SPX, +0.73% is up 19.2% for the period.

‘Gamechanger’ — billionaire investor just got a lot less bullish on the market

Just last month, billionaire hedge-fund manager David Tepper said he loves “riding a horse that’s running,” in reference to his bullish stance on the stock market. He’s “long and will continue that way,” he told CNBC at the time.

What a difference a potential pandemic makes.

That’s Tepper’s updated view of the market, which he just shared with CNBC following Friday’s hefty dose of selling.

He explained that the coronavirus has “certainly ruined the environment” for stocks that was in place a few weeks ago.

“If you’re a long-term person, you better not be leveraged,” warned Tepper, who owns the Carolina Panthers and, according to CNBC, oversees about $14 billion in assets for Appaloosa Management.

Watch the interview:

As for the latest on the coronavirus, at least 361 people have died and another 17,205 have been sickened. There are reportedly 151 cases outside of China.

Watch: Time-lapse shows hospital being built in China in 10 days

The market, however, is rebounding from Friday’s retreat. At last check, the Dow Jones Industrial Average DJIA, +0.51%was up triple digits, while both the S&P 500 index SPX, +0.73%and Nasdaq CompositeCOMP, +1.34%were also higher.