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Watch CNBC's full interview with OpenAI COO Brad Lightcap
  + stars: | 2024-05-07 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with OpenAI COO Brad LightcapCNBC's David Faber sits down exclusively with OpenAI's COO Brad Lightcap from the Milken Institute Global Conference to discuss its latest content tools, competition in the AI space, company structure and more.
Persons: Brad Lightcap CNBC's David Faber, Brad Lightcap Organizations: Milken Institute Global Conference
Logitech CEO Hanneke Faber sits down with Jim Cramer
  + stars: | 2024-05-07 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Logitech CEO Hanneke Faber sits down with Jim CramerLogitech CEO Hanneke Faber joins 'Mad Money' host Jim Cramer to talk quarterly results, the evolving workplace, consumer trends and more.
Persons: Hanneke Faber, Jim Cramer Logitech, Jim Cramer Organizations: Logitech
Darren Woods, chairman and chief executive officer of Exxon Mobil Corp, speaks during the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Monday, March 18, 2024. Exxon CEO Darren Woods said Monday that the dispute with Chevron over Hess Corporation 's oil assets in Guyana likely will not be resolved until 2025. "This is an important arbitration obviously not only for Exxon Mobil but for Chevron and Hess," Woods said. Exxon is claiming a right of first refusal on Hess' assets in Guyana under a joint operating agreement that governs a consortium that is developing the South American nation's prolific oil resources. The CEO has repeatedly expressed confidence that Exxon will prevail in the dispute, saying the company wrote the agreement that governs the consortium.
Persons: Darren Woods, Woods, CNBC's David Faber, Hess Organizations: Exxon Mobil Corp, P Global, Exxon, Chevron, Hess Corporation, Milken Institute's Global Conference, Exxon Mobil, Hess, International Chamber of Commerce Locations: Houston , Texas, Guyana, Los Angeles, Paris
Shari Redstone, chair of Paramount Global, attends the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on Tuesday, July 11, 2023. The consortium has been waiting for word from Paramount's special committee on whether the panel will recommend its bid to acquire the company to Redstone. Spokespeople for Skydance, Redstone's National Amusements and Paramount's special committee declined to comment on Friday. Previously, Redstone rejected an offer by Apollo in favor of exclusive talks with Skydance. Redstone has preferred a deal that would keep Paramount together, as Skydance's offer would, CNBC previously reported.
Persons: Shari Redstone, David Ellison's Skydance, CNBC's David Faber, Ellison, Spokespeople Organizations: Paramount Global, Allen, Co . Media, Technology Conference, Skydance, Apollo Global Management, Sony Pictures, RedBird Capital, KKR, Paramount, Apollo, Sony, CNBC, Redstone Locations: Sun Valley , Idaho
The decision to remove Bakish as CEO comes as Paramount Global closes in on a merger agreement with Skydance Media. A number of large common shareholders, including Gamco Investors, Ariel Investments, Matrix and Aspen Sky Trust have publicly criticized the deal, arguing it destroys value for common shareholders. Paramount Global shares jumped about 5% in premarket trading Monday. Typically, Paramount Global shareholders, such as Gabelli, would compare an offer to the standalone company's prospects — hence his comments about not seeing a sale at all. But by removing Bakish, Redstone and the Paramount Global board are now throwing the status quo into chaos.
Persons: Bob Bakish, CNBC's David Faber, Shari Redstone, David A, Skydance, Mario Gabelli, That's, , Bakish Organizations: Paramount, CNBC, Paramount Global, Skydance Media, Gamco Investors, Ariel Investments, Aspen Sky Trust, National Amusements, Allen & Company Sun Valley, Grogan, Amusements, New York Post, Bloomberg, Street Journal, Skydance, Apollo Global, Sony, New York Times, Apollo, Foreign Investment, U.S, Communications, Charter Locations: Sun Valley , Idaho, U.S, United States
Tesla , Li Auto — Tesla shares declined nearly 4%, hitting a 52-week low, following announcements of price cuts. Verizon reported $33 billion in revenue, slightly under the $33.32 billion figure penciled in by analysts, per FactSet. Informatica — The enterprise data management company tumbled nearly 9% after acquisition talks with Salesforce broke down. Salesforce shares inched higher by less than 1%. Riot Platforms — The bitcoin miner rallied 14% following the " halving" event , in which bitcoin mining rewards were cut in half.
Persons: Li Auto, Li, CNBC's David Faber, Salesforce, Crypto, Coinbase, MicroStrategy, UnitedHealth's OptumRx, Cardinal Health's, Zions, , Jesse Pound, Samantha Subin, Michelle Fox, Alexander Harring Organizations: Tesla, Reuters, Li Auto, Verizon Communications, Verizon, Paramount Global, Sony, Informatica, JPMorgan, Health Locations: China
CNBC Pro screened for stocks that are already trending downward to determine which stocks might fall further. According to analysts' consensus price targets, these stocks have an estimated downside of 5% or more, and all have a market capitalization of at least $2 billion. Here are the stocks that are already in a correction and still disliked on Wall Street. Shares have slumped 21.5% since May 2023 and — based on analysts' consensus price target — are estimated to decline another 29.1%. Other stocks already in a correction and vulnerable to additional declines include Palantir Technologies , Dillard's , MGE Energy , GameStop and Advance Auto Parts .
Persons: CNBC's David Faber Organizations: Dow Jones, Nasdaq, CNBC Pro, Bank of, FactSet, Fed, Silicon Valley Bank, Regional Banking ETF, CBS, Paramount Global, Skydance Media, Paramount, Palantir Technologies, MGE Energy, GameStop, Advance Locations: Bank of Hawaii, Silicon, Bank
CarMax — The used vehicle seller tumbled 13% after reporting fourth-quarter earnings of 32 cents per share on revenue of $5.63 billion. Analysts had expected earnings per share of 49 cents on revenue of $5.80 billion, according to LSEG, formerly known as Refinitiv. Nike — The athletic apparel maker added 3.2% after Bank of America upgraded Nike to buy from neutral. The deal values Alpine shares at $65, roughly 67% above its close on Tuesday, the day before reports that Alpine was considering its options. Atlassian — Shares rose 3.2% after Barclays upgraded the software maker to overweight from equal weight and raised its price target.
Persons: CNBC's David Faber, David Ellison, Faber, Lisa Kailai Han, Sarah Min, Yun Li, Samantha Subin, Michelle Fox, Alex Harring Organizations: Nike, Bank of America, Paramount, Skydance Media, Sciences, Vertex Pharmaceuticals, U.S . Space Force Space Systems Command, Constellation, Constellation Brands, LSEG, Barclays
In the shadow of the Rocky Mountains, with an elevation one mile closer to space than sea level, lies an area that's home to a burgeoning cluster of aerospace businesses. Voyager Space CEO Dylan Taylor traveled to space on a Blue Origin flight in 2021. For Voyager, that's been true. For Taylor, who has been to space himself after a trip on Blue Origin's New Shepard, the Denver-Boulder space story extends beyond Voyager too. Denver area startup Orbit Fab is building refueling ports for satellites that will allow them to fuel up in space.
Persons: Dylan Taylor, CNBC's Morgan Brennan, Lockheed Martin, Northrop Grumman, RTX, Jeff Bezos, Morgan Brennan, Sen, John Hickenlooper, Hickenlooper, that's, Taylor, Shepard, He's, Northrop, Daniel Faber, Orbit, Faber Organizations: Buckley Space Force, CNBC, Aerospace, Colorado Space Coalition, Voyager, Denver . Voyager, AFP, Getty, Lockheed, Boeing, Northrop, Launch Alliance, BAE Systems, Space, Space Station, Airbus, Mitsubishi, Northrop Grumman, AAA Locations: Colorado, CNBC's, Rocky, Denver, Boulder, California, Silicon Valley
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney is 'finally on the right foot' with its priorities and how to fix them, says Michael NathansonMichael Nathanson, MoffetNathanson founding partner, joins 'Squawk on the Street' to discuss his take on Iger's recent interview with David Faber, whether Disney can get to double-digit margins in streaming, and if Trian Partners helped the company focus or improve performance.
Persons: Michael Nathanson Michael Nathanson, MoffetNathanson, David Faber Organizations: Disney, Trian Partners
Paramount Global 's stock slumped 8% on Thursday after CNBC's David Faber reported the company would need to raise as much as $3 billion in new equity if it were to merge with David Ellison's Skydance Media, according to sources familiar with the deal. This deal comes as media mogul Shari Redstone, the controlling shareholder of Paramount, is said to be in exclusive talks with Ellison on selling her stake to him, according to Bloomberg. Faber said Ellison and his partners would likely step up to provide a good amount of that equity, but it would be dilutive. Redstone is looking to sell Paramount, as the company has been in talks with Warner Bros Discovery on its acquisition. The MTV and CBS parent company has a market capitalization of nearly $10 billion and about $13 billion of net debt.
Persons: CNBC's David Faber, David Ellison's Skydance, Shari Redstone, Ellison, Faber Organizations: Paramount, David Ellison's Skydance Media, Bloomberg, Wall Street Journal, Apollo Global Management, Redstone, Warner Bros Discovery, MTV, CBS
Disney wins proxy fight with Nelson Peltz's Trian Partners
  + stars: | 2024-04-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney wins proxy fight with Nelson Peltz's Trian PartnersCNBC's David Faber joins 'The Exchange' to report on the result of Disney investors' vote in a proxy war.
Persons: Nelson Peltz's, CNBC's David Faber Organizations: Disney
Disney's boardroom battle: Here's what you need to know
  + stars: | 2024-04-02 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDisney's boardroom battle: Here's what you need to knowCNBC's David Faber joins 'Halftime Report' to discuss the latest news on Silver Lake acquiring Endeavor, and Disney's boardroom battle.
Persons: CNBC's David Faber Organizations: Silver, Endeavor
In his first public comments since Disney fired him as CEO in November 2022, Bob Chapek told CNBC he sees no reason for Disney-owned ESPN to add minority partners. The company hasn't yet announced a deal to sell a stake in ESPN. Disney owns 80% of ESPN and Hearst owns the other 20%, a structure that's been in place since 1996. Bringing on a technology or telecommunications company such as Verizon or Apple could give ESPN broader distribution options by reaching larger customer bases. That is something, as Bob [Iger] has said, that we are very much open to, but this is about partnership and accelerating the launch or the adoption of ESPN flagship."
Persons: Bob Chapek, Chapek, Bob Iger, CNBC's David Faber, Disney, Iger, Disney's, Jimmy Pitaro, Pitaro, Bob Organizations: Disney, CNBC, ESPN, National Football League, National Basketball Association, Hearst, Verizon, Apple Locations: American
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Elon Musk's ketamine use: I defend him as much as possibleCNBC's David Faber and Jim Cramer discuss Elon Musk's use of ketamine.
Persons: Jim Cramer, David Faber, Elon
Faber Report: Likelihood of total TikTok ban
  + stars: | 2024-03-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFaber Report: Likelihood of total TikTok banCNBC's David Faber reports on the likelihood of a TikTok ban in the U.S.
Persons: CNBC's David Faber Locations: U.S
Faber Report: U.S. Steel deal scrutiny
  + stars: | 2024-03-15 | 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 EmailFaber Report: U.S. Steel deal scrutinyCNBC's David Faber reports on the latest developments on Nippon Steel's deal with buy U.S. Steel.
Persons: CNBC's David Faber Organizations: . Steel, Nippon, U.S . Steel
For the last six years, Finland has been ranked the happiest country in the world. I've lived here most of my life, and as a psychologist and happiness researcher, I'm often asked: what exactly makes people in Finland so satisfied with their lives? However, research has shown that those most desperately seeking happiness tend to be less happy. 'Who has happiness should hide it'In Finland, we tend to believe that if you've found happiness, you shouldn't show it. 'The pessimist will never be disappointed'This is an old Finnish saying without any clear origin.
Persons: I've, I'm, you've, Eino Leino, It's, Charles Peirce, Faber Organizations: Nordic Locations: Finland, Helsinki, American, Rome
Faber Report: Pres. Biden to weigh in on U.S. steel deal
  + stars: | 2024-03-14 | 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 EmailFaber Report: Pres. Biden to weigh in on U.S. steel dealCNBC’s David Faber reports on the latest developments on Nippon Steel's deal to buy U.S. Steel.
Persons: Pres, Biden, CNBC’s David Faber Organizations: Nippon, . Steel
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFaber Report: Jamie Dimon endorses Disney CEO Bob Iger in proxy fight with Trian PartnersCNBC’s David Faber reports on the latest developments on Disney's proxy battle with Trian Partners' Nelson Peltz.
Persons: Jamie Dimon, Bob Iger, Trian Partners CNBC’s David Faber, Nelson Peltz Organizations: Disney, Trian Partners
Bob Iger, Chairman and CEO of Walt Disney (C) speaks next to Jamie Dimon(L), Chairman & CEO of JP Morgan Chase & Co during the Bloomberg Global Business Forum in New York on September 25, 2019. Trian, run by Nelson Peltz, launched an intense proxy fight against Disney, asking investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3. Dimon gave the following statement on Iger to Faber:JPMorgan Chase CEO Jamie Dimon endorsed Disney CEO Bob Iger in his proxy battle with activist Trian Partners, CNBC's David Faber has learned. Meanwhile, Iger has been trying to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable. Dimon rarely weighs in on proxy battles, while JPMorgan does have a history of advising Disney on defensive matters.
Persons: Bob Iger, Walt Disney, Jamie Dimon, JP Morgan Chase, Nelson Peltz, Jay Rasulo, Bob, Dimon, Iger, Faber, Trian, CNBC's David Faber, Peltz Organizations: Walt, Co, Bloomberg Global Business, Disney, JPMorgan Chase, Trian Partners, Netflix, JPMorgan Locations: New York
Read previewIt was last May, and Elon Musk was sitting down for an interview with CNBC's David Faber. When asked about Altman and OpenAI, Musk grew visibly frustrated. AdvertisementMusk's answer may have been the writing on the wall that the billionaire was ready to take Altman and OpenAI to court. "It would be very difficult to claim a breach of contract without a written contract," Hoffman said. As one of the richest men in the world, Musk could tie OpenAI up in litigation for years, according to Lawrence.
Persons: , Elon Musk, CNBC's David Faber, Altman, Musk, OpenAI, Kyle Lawrence, Falcon Rappaport, Berkman, he'd, Tesla, Musk's grandstanding, David Hoffman, Hoffman, Samuel Brunson, Lawrence, who's, " Brunson Organizations: Service, Business, Microsoft, GPT, Falcon, University of Pennsylvania, Altman, Loyola University Locations: Lawrence
Ari Faber has lived as a man for nine years. But because of a state law, Mr. Faber, a Democratic candidate for the Ohio Senate, will appear on ballots in a March primary election with a woman’s name. The law, which was passed in 1995 to prevent deception, requires candidates who have changed names in the last five years to list previous names on election petitions. It has become an obstacle for Mr. Faber, who has not legally changed his name, and the three other transgender people seeking a seat in Ohio’s Legislature this year. One candidate was disqualified for failing to do so; another saw her campaign challenged; a third campaign faced a disqualification hearing; and Mr. Faber was directed to run under his deadname, a term that transgender people use for a birth name that they no longer use.
Persons: Ari Faber, Faber Organizations: Democratic, Ohio Senate, Republican Locations: Ohio’s, Ohio
Anheuser-Busch last year suffered a major backlash over its Bud Light marketing promotion with a transgender influencer, Dylan Mulvaney. In his Truth Social post on Tuesday, Trump appeared to be well-informed about detailed aspects of the beer company's operations. Trump wrote, "Anheuser-Busch is a GREAT American brand that perhaps deserves a Second Chance?" "Am building a list, and might just release it for the World to see," Trump wrote. Trump wrote.
Persons: Donald Trump, Busch, Dana White, Dylan Mulvaney, White, Trump, Bud, Bud Light, Kid Rock Organizations: Anheuser, UFC, CNBC, Busch, Bud Light, Trump, GREAT, TKO, Holdings, Republican Locations: Nevada, Treasure, Las Vegas , Nevada, U.S, American, Las Vegas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailESPN, Fox & Warner Bros. Discovery launching sports streaming serviceCNBC's David Faber joins 'Closing Bell Overtime' to talk breaking news from the sports streaming space.
Persons: CNBC's David Faber Organizations: ESPN, Fox & Warner Bros, Discovery
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