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The Google cofounder purchased Cayo Norte, a large private island in Puerto Rico, in 2018, according to documents reviewed by Business Insider. Cayo Norte sits about 20 nautical miles east of Puerto Rico and just northeast of Culebra, another island that forms an archipelago. Cayo Norte is known for its white sandy beaches, surrounding coral reefs, and preserving a refuge for endangered sea turtles. Google cofounder Larry Page bought Cayo Norte, an island in Puerto Rico. Page purchased the Lollik islands, which sit 23 miles east of Cayo Norte, in 2014 for $23 million, BI previously reported.
Persons: , Larry Page, Page, Lucinda Southworth, Cristina Rosado, Southworth, Dan Shelley, Hugh Langley, Shelley, Louis Padrón, Richard Gautier, Wayne Osborne, Great Hans Lollik, Hans Lollik, Osborne, Lucinda Southworth C, Mary Ann Lucking, Lucking, Sergey Brin, Kimberly White, Sundar Pichai, Brin, Kitty Hawk Organizations: Service, Google, Business, Virgin Island Properties, US Virgin, BI, LLC, Area, Cayo Norte, SVI Investments, Virgin Islands Locations: Cayo Norte, Puerto Rico, Caribbean, US, Puerto Rico's Fajardo, Cayo, Culebra, SVI, Padrón, Virgin, Great, Conservation, Kimberly White Cayo
S&P 500 futures were little changed in overnight trading after the Federal Reserve instituted a quarter percentage point hike, bringing rates to the highest level in more than 22 years. Futures linked to the S&P 500 traded flat, while Dow Jones Industrial Average futures lost 48 points, or 0.13%. The moves came after the Federal Reserve implemented a widely-expected 25 basis point hike, putting interest rates at their highest level since 2001. "If there was any doubt, Chairman Powell reiterated the Fed's commitment to 2% inflation and restoring price stability." Fresh economic data points include initial jobless claims, June durable goods orders, a preliminary second-quarter GDP reading and pending home sales.
Persons: Jerome Powell, Management's Yung, Yu Ma, Powell Organizations: Federal Reserve, New York Stock Exchange, Dow Jones Industrial, Nasdaq, Meta, Dow Jones, Federal, BMO, Honeywell, McDonald's, Intel, Ford Motor, Mobile, Royal Caribbean, Investors Locations: New York City
Roughly 150 S & P 500 companies are slated to report next week, including Microsoft , Coca-Cola and Boeing . Tech giant Meta Platforms , slated to report Wednesday, has had its earnings estimates hiked by more than 21% over the past three months. The average earnings per share estimate for the automotive giant is up 22% in the past three months. The company is slated to report earnings Tuesday before the bell. Analysts on average have raised their earnings estimates by 38% over both the past three and six months.
Persons: Nick Raich, Doug Anmuth, General Motors, Tesla, — CNBC's Michael Bloom Organizations: Microsoft, Boeing, Investors, CNBC Pro, Tech, Meta, Facebook, JPMorgan, General, GM, Alaska Air, Royal Locations: America, Royal Caribbean
After Wednesday saw the S&P 500 suddenly jump, CNBC's Jim Cramer looked back at 10 stocks that performed well even when the index bottomed out last October. "I think today's advance from the abyss last year all the way to near 4,300 is actually a very important landmark that you and I must explore," Cramer said. "We need to know which stocks can make us the most money when we get a true trend-line inflection." Cramer laid out 10 stocks that did well during that down period for the S&P 500. He pointed to insurance company Arch Capital Group , Facebook parent Meta , casino chains Wynn Resorts and Las Vegas Sands , credit-score platform Fair Isaac , homebuilder PulteGroupe , solar-panel manufacturer First Solar , Netflix , software giant Nvidia and cruise-line giant Royal Caribbean .
Persons: CNBC's Jim Cramer, Cramer, we've, Isaac, homebuilder Organizations: Arch Capital, Facebook, Wynn Resorts, Vegas Sands, Netflix, Nvidia, Royal Locations: Vegas, Royal Caribbean
Abnormal Security: 2022 Top Startups for the Enterprise
  + stars: | 2022-11-07 | by ( Cnbc.Com Staff | ) www.cnbc.com   time to read: 1 min
Compromised business email remains one of the top cybersecurity threats with an estimated $43 billion in losses exposed since June 2016, according to the FBI. Abnormal Security, founded in 2018, uses an AI-based cloud-native email security platform that leans on behavioral data science to stop socially engineered and other unique email attacks that can evade traditional secure email gateways. The company, which closed a $210 million Series C round of financing in May led by Insight Partners and included Greylock Partners and Menlo Ventures, says it protects more than 5% of the Fortune 1000 including Xerox , Urban Outfitters , Groupon and Royal Caribbean . The 2022 Top Startups for the Enterprise list is powered and inspired by the members of CNBC's Technology Executive Council (TEC). Learn more about CNBC Councils.
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