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A chipmaker was among Monday's biggest analyst calls along with a hospital stock. Morgan Stanley upgraded Micron Technology and raised its price target on the stock — though it sees only limited gains ahead. U.S. Steel shares have dropped more than 26% year to date. The bank upgraded the computer memory stock to equal weight from underweight and increased its price target to $130 per share from $98. He also raised hi 12-month price target to $226 from $189, implying upside of 27% from Friday's close.
Persons: Morgan Stanley, Dell, Samik Chatterjee, Bernstein, Toni Sacconaghi, DELL, — Brian Evans, Jefferies, Christopher LaFemina, LaFemina, Stifel, Ruben Roy, Baird, Tristan Gerra, Tom O'Malley, Brian Evans, Micron Technology Morgan Stanley, Morgan Stanley's, Joseph Moore, Moore, AJ Rice, Rice, Fred Imbert Organizations: CNBC, Micron Technology, UBS, Universal Health Services, JPMorgan, Dell, Jefferies, U.S, Steel, U.S . Steel, Nippon Steel's, Wall, TAM, Nvidia, Barclays Locations: U.S, Friday's
Ukraine launched a drone strike on a key Russian air base on Saturday, sources say. Ukraine says many of Russia's devastating glide bombs are launched from planes at Kushchyovskaya air base. AdvertisementUkraine says it launched strikes on a key air base with a view to thwarting Russia's devastating glide bombs, according to Sky News. An unnamed military source told the outlet that the operation overnight on Saturday had "significantly reduced" Russia's ability to target the front line with the bombs. The attack took place at the Kushchyovskaya air base in Krasnodar Krai, southwest Russia, the source claimed.
Persons: Chasiv Yar, Organizations: Service, Sky News Locations: Ukraine, Krasnodar Krai, Russia
Mr. Keys and his wife, Charae Williams Keys, were getting into their car after a Father’s Day visit in 2021 with her grandparents in a leafy neighborhood near Walnut Hill Park in Columbus, Ohio. A 72-year-old neighbor carrying a rifle accosted them in the belief, he later told the police, that Mr. Keys had let the air out of his daughter’s tires and poisoned his lawn. It took a moment for everyone to realize that the shots had come from a fourth gun across the street. Elias Smith, a 24-year-old ex-Marine, had stepped to his front door with a so-called ghost gun, an AR-style rifle that Mr. Smith had assembled from parts ordered online. Within seconds, he opened fire, hitting Mr. Keys five times.
Persons: Jason Keys, Keys, Charae Williams, Elias Smith, Smith Locations: Walnut Hill, Columbus , Ohio
A “catalog of failures” by government and medical officials in Britain, most of them avoidable errors, led to blood contaminations that killed about 3,000 people and infected more than 30,000 others over two decades, according to a long-awaited report published on Monday. The report is the product of a six-year inquiry that the British government ordered in 2017 after decades of pressure from victims and their families, and it could pave the way for sizable compensation payments. The independent report puts a harsh spotlight on Britain’s state-run National Health Service, identifying “systemic, collective and individual failures” by British authorities as they dealt with the infections of tens of thousands of people by tainted blood transfusions or contaminated blood products between the 1970s and the 1990s. The authorities at the time refused to acknowledge those failings — including the lack of proper screening and testing of blood — by “hiding the truth,” the report said.
Persons: Organizations: Health Service Locations: Britain
The Joint Program Office declined to comment to Military.com regarding the restriction. A spokesperson for the Marine Corps could not provide details on the restriction but said efforts are underway to return the aircraft to full operations. Pedro Caballero, a spokesperson for the Marine Corps, told Military.com when asked whether the restrictions applied to its roughly 350 Ospreys, the vast majority of the military's fleet. US Marine Corps MV-22B Ospreys take off at Port Darwin in Australia. An MV-22B Osprey conducts an external lift with US Marines during helicopter support team training at Marine Corps Air Station in Miramar, California.
Persons: , Military.com, Beth Teach, Cpl, Juan Torres, Capt, Pedro Caballero, Caballero, Colton Martin Lt, Rebecca Heyse, Amelia Kang, Brian Taylor, Taylor, Juan Paz Taylor Organizations: Service, Force, Marine Corps, Ospreys, Business, Navy, Naval Air Forces, Office, Naval Air Systems Command, Royal Australian Air Force Base, US Marine Corps, Corps, Port Darwin, Air Force Special Operations Command, Greyhound, House Armed Services, US Marines, Marine Corps Air, Services, Aviation, Air Force, Marines, Program Office, Marine, US Air National Guard, Staff Locations: Japan, Port, Australia, Miramar , California, Darwin, Washington ,, Lemonnier, Djibouti
The race to put artificial intelligence everywhere is taking a detour through the good old laptop computer. Microsoft on Monday introduced a new kind of computer designed for artificial intelligence. The machines, Microsoft says, will run A.I. systems on chips and other gear inside the computers so they are faster, more personal and more private. The new computers, called Copilot+ PC, will allow people to use A.I.
Organizations: Microsoft, Acer, Asus, Dell, HP, Lenovo, Samsung
Here are Monday's biggest calls on Wall Street: Melius reiterates Apple as buy Melius said it sees several positive catalysts ahead for Apple. Bernstein reiterates Dell as outperform Bernstein raised its price target on the stock to $155 per share from $120. Goldman Sachs reiterates Amazon as buy Goldman said it's standing by its top pick status on shares of Amazon. " Barclays reiterates Nvidia as overweight Barclays raised its price target on Nvidia to $1,100 from $850. Morgan Stanley upgrades Micron to equal weight from underweight Morgan Stanley raised its price target on Micron to $130 per share from $98.
Persons: Melius, Bernstein, Dell, Stifel, Baird, Goldman Sachs, Goldman, , Huntington Ingalls, it's, it's bullish, Redburn, Tesla, Morgan Stanley, Salesforce, Jefferies, Evercore, TJX Organizations: Apple, Developers, Citi, RIO, Nvidia, Barclays, Robotics, Group, Marex Group, Micron, Hasbro, U.S . Steel, UBS, Universal Health Services, JPMorgan, TJX Companies, SSS, Seaport, FedEx, US Locations: Tinto, America, Cleveland, China
Microsoft's Yusuf Mehdi on Copilot, new PCs and AI future
  + stars: | 2024-05-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft's Yusuf Mehdi on Copilot, new PCs and AI futureMicrosoft's Yusuf Mehdi joins 'Power Lunch' to discuss the company's unveiling of new products and apps.
Persons: Microsoft's Yusuf Mehdi, Copilot
CNN —The Israeli military has released a Hamas propaganda video it said it recovered showing a child who was held hostage by Hamas, spokesperson Daniel Hagari said on Sunday. Hagari did not say when or where Israel Defense Forces (IDF) recovered the video, which shows the since-freed child, Ela Elyakim, speaking to the camera asking to be released. The IDF released an image showing sisters Ela and Dafna Elyakim, who were previously held hostage by Hamas, in front of a flag with the Hamas logo. IDFAround 250 people were taken hostage during Hamas’ surprise October 7 attack on southern Israel, in which 1,200 people were killed, according to Israeli officials. Gantz demanded that the cabinet adopt a plan to secure the return of Israeli hostages, the demobilization of Hamas and the demilitarization of the Gaza Strip by June 8.
Persons: Daniel Hagari, Hagari, Ela Elyakim, Ela, Elyakim, Nir Oz, , ” Hagari, Noam, , Dafna Elyakim, , Benny Gantz, Benjamin Netanyahu didn’t, Gantz Organizations: CNN, Israel Defense Forces, IDF, Palestinian Ministry of Health, Nova Locations: Israel, Gaza
A Safety Check for OpenAI
  + stars: | 2024-05-20 | by ( Andrew Ross Sorkin | Ravi Mattu | Bernhard Warner | ) www.nytimes.com   time to read: +1 min
OpenAI’s fear factorThe tech world’s collective eyebrows rose last week when Ilya Sutskever, the OpenAI co-founder who briefly led a rebellion against Sam Altman, resigned as chief scientist. “Safety culture and processes have taken a backseat to shiny products,” Jan Leike, who resigned from OpenAI last week, wrote on the social network X. Along with Sutskever, Leike oversaw the company’s so-called superalignment team, which was tasked with making sure products didn’t become a threat to humanity. Sutskever said in his departing note that he was confident OpenAI would build artificial general intelligence — A.I. Leike spoke for many safety-first OpenAI employees, according to Vox.
Persons: Ilya Sutskever, Sam Altman, hadn’t, ” Jan Leike, Sutskever, Leike, , Vox, Daniel Kokotajlo, Altman Organizations: OpenAI, C.E.O
A congressional investigation found that BMW, Jaguar Land Rover and Volkswagen purchased parts that originated from a Chinese supplier flagged by the United States for participating in forced labor programs in Xinjiang, a far western region of China where the local population is subject to mass surveillance and detentions. BMW shipped to the United States at least 8,000 MINI vehicles containing the part after the Chinese supplier was added in December to a U.S. government list of companies participating in forced labor. Volkswagen took steps to correct the issue. The investigation, which began in 2022 by the chairman of the Senate Finance Committee, Ron Wyden of Oregon, a Democrat, highlights the risk for major automakers as the United States tries to enforce a two-year-old law aimed at blocking goods from Xinjiang. The Uyghur Forced Labor Prevention Act bars goods made in whole or in part in Xinjiang from being imported to the United States, unless the importer can prove that they were not made with forced labor.
Persons: Ron Wyden Organizations: BMW, Jaguar, Rover, Volkswagen, Senate Finance, United States, Labor Locations: United States, Xinjiang, China, U.S, Oregon, United
Apple's new Pencil Pro shows the tech giant really thought of everything in its latest launch. The Pencil Pro launched May 7 alongside the new M4 iPad. AdvertisementThe new Apple Pencil Pro comes with a subtle yet surprising new feature. The pencil stylus was launched on May 7 at the "Let Loose" event alongside the new M4 iPad Pro and iPad Air. Apple showed off the capabilities of the new Pencil Pro, but a recent TikTok revealed another feature that highlights the tech giant's attention to detail.
Persons: , Oliur, Apple didn't Organizations: Pro, Service, iPad, Apple, Business
Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. CNN —China has hinted at possible tit-for-tat action against trade barriers imposed by the United States last week, as relations between the two economic superpowers become increasingly fraught. On Sunday, China’s Ministry of Commerce said it was launching an anti-dumping probe into polyoxymethylene or POM copolymers, a thermoplastic used in various industries ranging from auto parts to electronics, imported from the US, the European Union, Taiwan and Japan. Thermoplastics are malleable when heated but become fixed in a solid shape when cooled, and can partially replace metals such as copper and zinc. The investigation should take a year to complete, but may be extended by another six months, the ministry added.
Persons: Joe Biden Organizations: CNN, United, China’s Ministry of Commerce, European Union, EV Locations: China, United States, Taiwan, Japan
But her lip movements don’t quite match the audio of the videos, which were posted recently to an account using the name “Ladina.” That is because it is footage of Shadé Zahrai, an Australian career strategist with more than 1.7 million TikTok followers, that has been modified using artificial intelligence. Someone dubbed Ms. Zahrai’s video clips with a voice speaking Mandarin Chinese to make it seem that she was peddling Russian products. Welcome to a flourishing genre on Chinese social media: A.I.-manipulated videos that use young, purportedly Russian, women to rally support for China-Russia ties, stoke patriotic fervor or make money — and sometimes all three at once.
Persons: Shadé Organizations: stoke Locations: Australian, China, Russia
On May 16 the Justice Department formally moved to reclassify marijuana from Schedule I of the Controlled Substances Act to Schedule III. It is, however, the biggest step yet toward abolishing the legal fiction that cannabis is as dangerous as heroin. And it puts marijuana — used more than any other illicit drug in the world — on a pathway for fully legal recreational use, which a majority of Americans support. It also offers an opportunity to start ironing out the details of what federal cannabis oversight ought to look like if the time comes — both to redress past harms and protect public health. Learning from the experiences of states that have legalized marijuana is essential.
Organizations: Justice Department, Food and Drug Administration, Psychiatry
Professionals at the RSA Conference shared insights on securing 5G devices and networks. Business Insider spoke with several cybersecurity professionals at the annual RSA Conference, which took place from May 6 to 9 in San Francisco. Private 5G networks will change the way in which everything connects." Here are cybersecurity professionals' best practices for securing 5G devices and networks. That's because as more devices get connected to 5G networks, the bigger the attack surface becomes.
Persons: , Nathan Howe, it's, Andrea Carcano, Boaz Gelbord, Donna Johnson, you've, Christine Gadsby, It's, Darren Guccione, Guccione, Jimmy Mesta, Carcano Organizations: RSA, Service, Business, RSA Conference, Nozomi Networks, BlackBerry, RAD Security Locations: San Francisco, cybersecurity
AdvertisementIt's a rare admission from Altman, who has worked hard to cultivate an image of being relatively calm amid OpenAI's ongoing chaos. Safety team implosionOpenAI has been in full damage control mode following the exit of key employees working on AI safety. He said the safety team was left "struggling for compute, and it was getting harder and harder to get this crucial research done." Silenced employeesThe implosion of the safety team is a blow for Altman, who has been keen to show he's safety-conscious when it comes to developing super-intelligent AI. The usually reserved Altman even appeared to shade Google, which demoed new AI products the following day.
Persons: , Jan Leike, Ilya Sutskever, Sam Altman, Altman, Leike, Leopold Aschenbrenner, Pavel Izmailov, Daniel Kokotajlo, William Saunders, Cullen O'Keefe, Kokotajlo, Vox, OpenAI, Joe Rogan's, Neel Nanda, i've, Scarlett Johansson, OpenAI didn't Organizations: Service, Business, AGI
London CNN —Saudi Arabia’s national airline has placed an order for 105 Airbus airplanes in the largest-ever deal in the country’s aviation history — another win for troubled Boeing’s European rival. Saudia Group’s current fleet comprises 93 Airbus and 51 Boeing aircraft, according to its website. Al-Omar did not specify whether it was the number of airplanes ordered or the total value of the order that made it Saudi Arabia’s biggest-ever aviation deal. When asked by CNN about that, as well as the value of the deal, Saudia Group did not respond, while Airbus declined to comment. Despite having a backlog of orders amounting to more 5,600 commercial jets, worth $529 billion, Boeing cannot make planes quickly enough each year to turn a profit as it’s working to address its quality issues.
Persons: Ibrahim Al, Omar, , “ Saudia, ” Al Organizations: London CNN, Saudi Arabia’s, Saudia Group, Saudia, Future Aviation, Airbus, Boeing, CNN, Future Aviation Forum, Saudi, National Tourism Strategy, Max Locations: Saudi, Riyadh
CNN —Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. (Regulators made no allegation of wrongdoing against Trump Media, which was not mentioned in the charges against the auditor.) Experts have said the price tag on Trump Media stock defies logic given the company’s financial results and small footprint in social media. Despite all the fanfare for the public listing earlier this year, Truth Social remains a very tiny player in social media.
Persons: CNN —, Donald Trump, , Devin Nunes, Nunes, Semple, Cooper Organizations: CNN, CNN — Trump Media & Technology Group, Truth Social, Trump Media, Company, Big Tech, ” Trump Media, Marchal, Regulators
German automaker BMW imported at least 8,000 Mini Cooper vehicles into the United States with electronic components from a banned Chinese supplier, a U.S. Senate report released on Monday said. A report by Senate Finance Committee Chairman Ron Wyden's staff said BMW imported 8,000 Mini Coopers with parts from a Chinese supplier banned under a 2021 law and that BMW continued to import products with the banned parts until at least April. BMW Group said in an email it had "taken steps to halt the importation of affected products." The report found that Bourns Inc, a California-based auto supplier, had sourced components from Sichuan Jingweida Technology Group (JWD). That Chinese company was added to the UFLPA Entity List in December, which means its products are presumed to be made with forced labor.
Persons: Ron Wyden's, Wyden Organizations: BMW, U.S, Senate, Senate Finance, Coopers, BMW Group, Labor, Customs and Border Protection, Inc, Sichuan Jingweida Technology Locations: Leipzig, Germany, United States, China's Xinjiang, China, California, Sichuan
Microsoft announces new PCs with AI chips from Qualcomm
  + stars: | 2024-05-20 | by ( Jordan Novet | ) www.cnbc.com   time to read: +3 min
Copilot+ PCs with AMD and Intel chips will follow, Microsoft said during a press keynote address on its campus in Redmond, Washington. AI models will be able to generate images based on written descriptions as well as drawings. Microsoft is banking on Qualcomm's energy-efficient Arm -based chips that can handle AI models to defend its Windows franchise. The new PCs can run some AI models locally without an internet connection. Microsoft has had little success in getting people to adopt Arm-based Windows computers, which haven't always performed as well as PCs running Intel or AMD chips.
Persons: Satya Nadella, Snapdragon, haven't, Morgan Stanley Organizations: Microsoft Corp, Microsoft, Windows, Qualcomm, Lenovo, Dell, HP, Asus, Acer, Samsung, AMD, Intel, Apple Locations: Jakarta, Indonesia, Redmond , Washington
And when it comes to the return on investment, some projects now offer the highest return values in history — with a few home upgrades averaging returns of nearly 200% for the first time ever — according to the 2024 Cost vs. Value report from Zonda Media, a housing market research and analytics firm. Garage door replacements offered the highest average return at 194%, followed by upgrading to a steel front door, with a 188% return on investment — both worth nearly double what they were last year, the report found. Curb appeal is keyForget a designer chef's kitchen, the projects offering the greatest returns in resale value are mostly related to curb appeal rather than more glamorous kitchen and bath remodels, according to Zonda's report. In fact, nine out of the top 10 projects with the highest return on investment were exterior improvement projects, the report found. Only three projects on Zonda's list can typically deliver even a 100% return on investment, including replacing the garage doors, upgrading to a steel front door and installing a stone veneer.
Persons: Clay DeKorne, Zonda's, DeKorne, Angelica Ferguson VonDrak, Todd Tomalak, Tomalak Organizations: Zonda Media, Finance, Photodisc, Getty Locations: Rhinebeck , New York
US stocks traded mixed on Monday after last week's rally to record highs. Investors are preparing for a big week of AI updates, with Nvidia earnings on deck. Microsoft is set to unveil new product and AI updates at its 2024 Build conference. AdvertisementUS stocks were mixed on Monday, wavering slightly after last week's run to record highs in the wake of an encouraging April inflation report. Microsoft's 2024 Build Conference is the other big AI event of the week, and will showcase new hardware and software products from the company.
Persons: , Copilot, Dan Ives Organizations: Nvidia, Microsoft, Service, Investors, Excel, Federal, PMI Locations: Here's
Natural gas futures have cleared their 200-day moving average and appear to have entered a long-term basing process. Given the potential for a long-term turnaround phase in natural gas prices, we were drawn to the energy sector as a source of potential long-term stock opportunities. Secondary resistance for natural gas comes from a Fibonacci retracement level near $3.50/MMBtu. How to play it One of the natural gas-related stocks that sets up well from a technical perspective is Cheniere Energy (LNG) , which is a provider of liquified natural gas. Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only.
Persons: Katie Stockton Organizations: Energy, Fairlead, CNBC Pro, Securities
"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.
Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City
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