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☆ Baylor University outperformed the Ivy League in university endowment performance rankings. Here’s how
  + stars: | 2024-02-27 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Baylor University's $2 billion endowment — a fraction of those in the Ivy League — generated a 6.4% return for the fiscal year that ended June 30, outperforming the entire conference. Morehead joined the university in 2011, and since fiscal 2012, Baylor's endowment has more than doubled. The key to Baylor's endowment success, according to Chief Investment Officer David Morehead, is taking advantage of dislocations in the market. This increase comes as endowment returns have rebounded nationally. Endowment returns were up 7.7% in fiscal 2023, per the latest study by the National Association of College and University Business Officers and Commonfund.
Persons: Morehead, CNBC's, David Morehead, Baylor's annualized Organizations: Baylor University's, Ivy League, Brown University, Wall Street, National Association of College and University Business, CNBC, Nvidia
☆ Baylor University outperformed the Ivy League to top university endowment performance rankings. Here’s how
  + stars: | 2024-02-27 | by ( Sean Conlon | ) www.cnbc.com   time to read: +3 min
Baylor University's $2 billion endowment — a fraction of those in the Ivy League — generated a 6.4% return for the fiscal year that ended June 30, outperforming the entire conference. Morehead joined the university in 2011, and since fiscal 2012, Baylor's endowment has more than doubled. The key to Baylor's endowment success, according to Chief Investment Officer David Morehead, is taking advantage of dislocations in the market. This increase comes as endowment returns have rebounded nationally. Endowment returns were up 7.7% in fiscal 2023, per the latest study by the National Association of College and University Business Officers and Commonfund.
Persons: Morehead, CNBC's, David Morehead, Baylor's annualized Organizations: Baylor University's, Ivy League, Brown University, Wall Street, National Association of College and University Business, CNBC, Nvidia
☆ Guys in tech, finance, and other white-collar jobs are paying stylists thousands of dollars to dress them
  + stars: | 2024-02-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com   time to read: +4 min
These stylists charge thousands to help workers balance professional and casual styles. So white-collar workers in tech, law, and finance are turning to professional stylists to help them navigate their sartorial confusion. And they’re willing to shell out thousands of dollars to nail the right balance of cool and professional. Those hiring a professional stylist should be prepared to swap their $50 shirts for ones closer to the $250 range, Michelle Sterling, a professional image consultant previously told Business Insider. AdvertisementFinding the right style for your corporate jobSome white-collar stylists start by assessing their clients’ personalities before they start dressing them.
Persons: —, Michelle Sterling, Brunello Cucinelli, Sterling, Peter Nguyen, Cassandra Sethi, Nate Dudek —, Ted Baker, Jacci Jaye, Jaye, Sylvie di Giusto Organizations: Service, Wall Street Journal, Consulting Locations: New York, Patagonia
☆ 3 students won $700,000 for using AI to translate 2 tweets worth of text from previously unreadable ancient scrolls
  + stars: | 2024-02-10 | by ( Lakshmi Varanasi | ) www.businessinsider.com   time to read: +4 min
Three students won the Vesuvius Challenge for uncovering text in the Herculaneum papyri. The students were awarded a $700,000 prize after using AI to uncover the passages. “This is the society from which the modern Western world is descended.”The Herculaneum papyri were buried thousands of years ago during the eruption of Mt. The Vesuvius Challenge hopes entrants will help uncover about 90% of the first four scrolls. AdvertisementThe founders of the Vesuvius Challenge hope they’ll be able to crack open and read the entirety of all 800 scrolls in the next few years.
Persons: —, Youssef Nader, Luke Farritor, Julian Schilliger, ” Nader, Julius Caesar’s, ” Robert Fowler, Salvatore Laporta, Nat Friedman, Daniel Gross, Brent Seales —, Seales, uncracked, Philodemus, Friedman, …, fihs9ADb48 — Nat Friedman, they’ll Organizations: Service, Freie University, Wall Street, University of Nebraska, ETH Zurich, Villa, Herculaneum Society, Bloomberg Locations: Berlin, Switzerland, Vesuvius, Italian, Herculaneum
☆ Goldman Sachs leaders are charting a course for the bank's future in Miami for the second year in a row. Here's how the stakes are different this time.
  + stars: | 2024-02-07 | by ( Reed Alexander | Emmalyse Brownstein | ) www.businessinsider.com   time to read: +5 min
The Miami Beach Edition hotel on Collins Avenue, where conferences for Goldman parnters are being held. Inside the Edition Hotel in Miami, which is playing host to the Goldman Sachs partner conference this week. The Faena Hotel along Collins Avenue is also playing host to some Goldman partners and events this week. A spokesperson for Goldman Sachs declined to comment about the Miami gathering this week. Are you a Goldman Sachs or Wall Street insider?
Persons: Goldman Sachs, confab, —, Goldman, Denis Coleman, Avinash, Goldman parnters, Emmalyse, David Solomon, Solomon, Lloyd Blankfein, he's, Reed Alexander Big, Solomon —, John Waldron —, Solomon himself, Emmalyse Brownstein Goldman, George Lee, Alison Mass, Trevor Noah, decamped, Reed Alexander Organizations: Magic City, Miami Beach, Business, Wall Street Journal, Goldman, Wall Street Locations: New York, London, Miami, Collins, New York City, South Florida, ralexander@businessinsider.com
☆ Ex-Twitter workers snapped up enormous hashtag signs and company art auctioned off by Elon Musk to decorate their homes
  + stars: | 2024-01-17 | by ( Tom Carter | ) www.businessinsider.com   time to read: +3 min
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewElon Musk laid off thousands of Twitter employees following his chaotic takeover — and some appear to have taken part of the company with them. Asset manager Fidelity recently estimated that X is now worth 71% less than when Musk took over . pic.twitter.com/uUO7Dgw1Yz — Mike Sington (@MikeSington) December 9, 2022Other ex-Twitter employees snagged company art and memorabilia when Musk put it up for auction last year. Former engineering manager Jon Ball, who left the company in 2019, picked up a three-foot-tall hashtag statue, according to the Journal.
Persons: —, Elon Musk, Lauren Fratamico, Musk, witter, egan, ince, orth, witter H, ike S ington, witter e Organizations: Service, Business, Twitter, Wall Street Locations: lon, usk
☆ Larry Fink just kicked off the last chapter of his BlackRock reign
  + stars: | 2024-01-12 | by ( Michelle Abrego | Rebecca Ungarino | ) www.businessinsider.com   time to read: +6 min
This all comes as Larry Fink, 71, is entering what is likely the last chapter of a successful career as cofounder and chief executive of $10 trillion BlackRock. Here's everything you need to know:BlackRock is set to buy Global Infrastructure Partners in its biggest deal in 15 yearsThroughout 2023, Fink signaled that a "transformational deal" was on the cards. He found his target in private equity firm and infrastructure investor Global Infrastructure Partners, the firm announced on Friday. Jessica Tan, head of BlackRocks' sustainability and transitions strategy, will head the global product solutions team in the Americas. Charles Hatami, global head of the financial and strategic investor group that focuses on relationships with large investors like insurers and sovereign wealth funds, will join BlackRock's global executive committee.
Persons: Larry Fink, Fink, Rob Kapito, BlackRock iShares, GIP, Kapito, Goldman Sachs, Goldman, David Solomon's, Ogunlesi, Wells, Mike Mayo, Larry, Stephen Cohen, Salim Ramji, Jessica Tan, Jane Sloan, GIP's, Edwin Conway, Conway, Rachel Lord, Lord, Charles Hatami Organizations: Business, BlackRock, Global Infrastructure Partners, GIP, London Gatwick, Wall Street, Asia Pacific, Securities, Exchange Commission Locations: Sydney, Bayo, Ogunlesi, BlackRock, Americas, Europe, East, India, Asia, Pacific
☆ 'Venice has been lost, but we can still save Florence:' Italy's fight against Airbnb
  + stars: | 2023-12-01 | by ( Dan Latu | ) www.businessinsider.com   time to read: +4 min
30% of homes in central Florence, Italy, are listed on Airbnb, the Wall Street Journal said. In October, Florence decided to ban all new Airbnb listings in the city center. Florence is not alone in its attempts to limit the reach of short-term rentals. Venice has been lost, but we can still save Florence." Efforts to combat the effects of short-term rentals haven't broken through nationally.
Persons: —, David, It's, Dario Nardella, Florence, Linda Sanesi, Nardella, I'm, Massimo Torelli Organizations: Wall Street Journal, Service, Rome's La Sapienza University, Wall Street Locations: Florence, Italy, Rome's, Florence's, Nardella, New York City, Portugal, Venice
☆ A sale isn't worth it anymore unless you're getting 40% off
  + stars: | 2023-11-29 | by ( Cork Gaines | ) www.businessinsider.com   time to read: +4 min
Many retailers are extending holiday shopping discounts to record levels and for longer periods. To get the best discounts, you might have to head to your nearest mall. To get the best holiday deals, you might have to go to the mall. That worked in the last few years but didn't this year because financially stressed consumers became even more cost-conscious and looked for the best deals, he added. "Retailers moved a lot of those sales earlier than usual, and then it became one big event culminating on Cyber Monday."
Persons: LSEG, —, Jharonne Martis, Martis, Centric Market Intelligence —, Howard Schnapp, Kraig Foreman, CNBC's, Foreman Organizations: Service, Adobe, London Stock Exchange Group, London Stock Exchange, Centric Market Intelligence, Getty, CNBC, Wall Street, Retailers
☆ OpenAI's offices were sent thousands of paper clips in an elaborate prank to warn about an AI apocalypse
  + stars: | 2023-11-23 | by ( Tom Carter | ) www.businessinsider.com   time to read: +3 min
An employee at rival Anthropic sent OpenAI thousands of paper clips in the shape of their logo. The prank was a subtle jibe suggesting OpenAI's approach to AI could lead to humanity's extinction. Anthropic was formed by ex-OpenAI employees who split from the company over AI safety concerns. AdvertisementOne of OpenAI's biggest rivals played an elaborate prank on the AI startup by sending thousands of paper clips to its offices. AdvertisementAnthropic was founded by former OpenAI employees who left the company in 2021 over disagreements on developing AI safely.
Persons: Anthropic, —, Nick Bostrom, Bostrom, OpenAI, Sam Altman, Altman, Ilya Sutskever, Sutskever Organizations: Service, OpenAI's, Anthropic, Wall Street, Microsoft, Business Locations: Francisco
☆ Video shows Israeli armored vehicles clearing paths into Gaza ahead of a likely ground invasion
  + stars: | 2023-10-26 | by ( Thibault Spirlet | ) www.businessinsider.com   time to read: +4 min
The footage shows Israeli armored vehicles clearing paths into northern Gaza. The paths will likely be used by the Israeli Defense Forces to invade Gaza. AdvertisementAdvertisementIsraeli armored vehicles have cleared paths into Gaza ahead of a likely ground invasion, according to a video shared by the Israel Defense Forces (IDF). The footage shows dozens of armored vehicles clearing dirt piles and constructing several paths near the border fence between Gaza and Israel. X/@IDFOSINT Defender said the paths "will likely be used" by the IDF in their upcoming ground invasion.
Persons: —, oMdSDR84rU, OSINT, Benyamin Netanyahu Organizations: Israeli Defense Forces, Service, Israel Defense Forces, IDF, Caterpillar, Puma, Israel's, Israel's Defense, Wall Street, Military, Hezbollah, Islamist Locations: Gaza, Israel, Israeli, Northern Gaza, Lebanese
☆ Stocks making the biggest moves premarket: Pfizer, Lululemon, Manchester United, Rite Aid and more
  + stars: | 2023-10-16 | by ( Pia Singh | ) www.cnbc.com   time to read: +2 min
Pfizer , Moderna , BioNTech — Shares of Pfizer dropped 1.3% after the company slashed its full-year revenue guidance by $9 billion, noting waning demand for its Covid treatment and vaccine. Following the guidance cut, Jefferies upgraded Pfizer on Monday, citing an attractive buying opportunity. Vaccine markers Moderna and BioNTech also dropped premarket, losing 4.1% and 5%, respectively. Colgate-Palmolive — The consumer products stock gained more than 1% in premarket trading after Stifel upgraded Colgate-Palmolive to buy from hold. The firm cited the stock's attractive valuation and the rapid and profitable growth of TAL's non-academic tutoring business as catalysts.
Persons: Jefferies, BioNTech, premarket, Morgan Stanley, Jim Ratcliffe, Jeffrey Stein, Dow, Charles Schwab, CNBC's Hakyung Kim, Jesse Pound, Tanaya Macheel, Michelle Fox Theobald, Lisa Han Organizations: Pfizer, Moderna, BioNTech, Colgate, Palmolive, Manchester United, Wall Street, . Rite, Dow Jones, Activision, Microsoft, TAL Education Group, UBS Locations: New Jersey
☆ Leaked email shows Amazon's private label boss moved to a new job internally after the company cut dozens of in-house brands
  + stars: | 2023-10-16 | by ( Eugene Kim | ) www.businessinsider.com   time to read: +2 min
Amazon's executive in charge of its private-label business has found a new role on the supply chain side, following the company's decision to axe dozens of house brands, Insider has learned. Matt Taddy, formerly Amazon's VP of private brands, is now VP of supply chain optimization technology, also known as SCOT, according to an internal email reviewed by Insider. Amazon's private label business launched dozens of in-house brands in recent years across a number of categories, including clothing, furniture, and electronics. The Federal Trade Commission said in a lawsuit against Amazon last month that the company "degrades its search quality by stacking the deck against third-party competitors of Amazon's private label products." In response, Amazon started significantly scaling back its private label business, and decided to cut many of these brands, according to the Wall Street Journal .
Persons: Matt Taddy, Taddy, Deepack Bhatia, John Felton, Felton, Matt, didn't Organizations: Worldwide Operations, Federal Trade Commission, Amazon, Wall Street, University of Chicago, Microsoft
☆ A mediator who worked on a 2011 Israeli prisoner exchange says Hamas' hostage-taking is 'unprecedented': 'What do they even do with them now that they have them?'
  + stars: | 2023-10-16 | by ( Thibault Spirlet | ) www.businessinsider.com   time to read: +3 min
Gershon Baskin helped secure the release of an Israeli soldier from Hamas in 2011. He says Hamas' hostage-taking campaign is "unprecedented," per The Wall Street Journal. AdvertisementAdvertisementA mediator who helped negotiate the 2011 exchange of an Israeli soldier said Hamas' hostage-taking in its recent terror attacks was "unprecedented" due to the sheer number of people involved, according to The Wall Street Journal . "It's unprecedented, there's no doubt," Gershon Baskin, the Middle East director for International Communities Organization, a UK-based peace-building NGO, told the newspaper. Baskin, an American-Israeli peace activist, helped secure the release of Israeli soldier Gilad Shalit from Hamas in 2011.
Persons: Gershon Baskin, —, Baskin, Gilad Shalit, He's, Abu Ubaida, Israel Organizations: Street, Service, Wall Street, International Communities Organization, Israel Defense Forces, Department, West Bank, Hamas Locations: Gaza, Israel, American
☆ Tech bosses and workers are joining up to fight in Israel and say it's their 'duty to protect our country'
  + stars: | 2023-10-10 | by ( Tom Carter | ) www.businessinsider.com   time to read: +3 min
Israel's tech CEOs and workers are volunteering and being conscripted for military service. They've said it's their duty to "protect our country" after the "bloodiest day in Israel's history." "I want to be part of the people who are protecting our country," Israeli startup CodiumAI CEO Itamar Friedman, who has reported for reservist duty, told The Wall Street Journal . People have been rushing into military service," he added. Israel has compulsory military service, with all male citizens over the age of 18 required to serve 32 months in the armed forces.
Persons: They've, —, Itamar Friedman, Shmuel Chafets, Armis, Amitai Ratzon, Israel Organizations: Hamas, Service, Gaza, Wall Street, Bloomberg, Target Global Locations: Israel, Tel Aviv, Gaza
☆ Softbank chief says that those who don't adopt AI are 'goldfish' who will be 'left behind'
  + stars: | 2023-10-04 | by ( Tom Carter | ) www.businessinsider.com   time to read: +2 min
Masayoshi Son said AI skeptics are "hallucinators" who will be "left behind." The Softbank founder believes that AI will surpass all human knowledge by 2030. Softbank is reportedly discussing a $1 billion deal with OpenAI and Jony Ive to create the "iPhone of AI." AdvertisementAdvertisementSoftbank CEO Masayoshi Son has slammed AI doubters as "goldfish" and "hallucinators" – and suggested that AI models will be smarter than every human on earth by the end of the decade. AdvertisementAdvertisementHis comments come amid an AI arms race, as major tech companies and investors pour huge amounts of money into artificial intelligence start-ups.
Persons: Masayoshi Son, Softbank, —, –, Son, Anthropic, OpenAI, Johnny Organizations: Service, Wall Street, Amazon, Financial Times, Apple Locations: Tokyo
☆ Meta wants to charge EU users $14 a month if they don't agree to personalized ads on Facebook and Instagram
  + stars: | 2023-10-03 | by ( Tom Carter | ) www.businessinsider.com   time to read: +3 min
Meta could offer subscription versions of Instagram and Facebook in Europe. AdvertisementAdvertisementMeta has a new plan to navigate the European Union's tough new ad privacy rules – charge users $14 a month. AdvertisementAdvertisementThe new subscription tiers, which could roll out in the next few months are an attempt to comply with the EU's crackdown on personalized advertising, according to The Journal. The bloc's regulators ruled last year that Meta must give users the option to opt out of personalized ads based on their activity on their platforms. "Meta believes in the value of free services which are supported by personalized ads," said a Meta company spokesperson.
Persons: —, Meta Organizations: Facebook, Wall Street, Service, Street, Apple, Meta Locations: Europe
☆ Formula 1 could be coming to Apple as it mulls offering up to $2 billion a year to show races, report says
  + stars: | 2023-10-01 | by ( Polly Thompson | ) www.businessinsider.com   time to read: +3 min
Apple is interested in the exclusive global rights for Formula 1 races, Business F1 reported. The iPhone maker could offer up to $2 billion a year for the rights, per the report. AdvertisementAdvertisementApple is reportedly considering making a bid of up to $2 billion a year for the rights to show Formula 1 races, according to a report by Business F1. Formula 1 Group declined to comment to Business F1 and didn't immediately respond to a request for comment from Insider. CHANDAN KHANNA/Getty ImagesAn MLS Season Pass costs $14.99 a month or $29 a season, while Apple TV+ subscribers pay $12.99 a month or $25 a season.
Persons: —, Tim Cook, JIM WATSON, Lionel Messi, CHANDAN KHANNA, Apple wouldn't Organizations: Apple, Business, Major League Soccer, Service, Prix, Liberty Media, Sirius XM, MLS, Inter Miami, Wall Street, ESPN, ABC, Forbes, Sky, Revenue, Parks Associates, Amazon, Football, Sports Media Watch Locations: Austin , Texas
☆ A second Nikola electric semi-truck caught fire during tests to determine the cause of another blaze
  + stars: | 2023-09-10 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
A Nikola electric semi-truck caught fire during a battery test outside its Phoenix headquarters. It comes after another Nikola Tre truck caught alight this week in Tempe, Arizona. The electric vehicle maker was testing why a battery pack on another of its trucks caught fire this week when the incident occurred. The semi-truck was undergoing a "battery fire investigation and testing" when it caught alight in its second fire incident this week, the company told Bloomberg in an email. In the first fire, a Tre battery-electric vehicle caught alight in Tempe, Arizona, Reuters reported.
Persons: Nikola Tre, Nikola, Steve Girsky, Michael Lohscheller, Girsky, Nikola didn't Organizations: Service, Bloomberg, Reuters, Street, General Motors Locations: Phoenix, Tempe , Arizona, Wall, Silicon
☆ China is pulling every lever to kill Apple's iPhone 15
  + stars: | 2023-09-07 | by ( Hasan Chowdhury | ) www.businessinsider.com   time to read: +3 min
The iPhone 15 will be a tough sell in China. And China's homegrown rival Huawei has a new, superfast phone out, the Mate 60. China is Apple's second-biggest single market by sales outside the US, and its third-biggest region behind the US and Europe. Another important metric: China grew faster by revenue than Europe, implying continued prospects for growth for Apple beyond saturated Western markets. The advanced chip inside the new Mate 60 was made by Chinese company SMIC, according to a teardown by Bloomberg.
Persons: isn't, Trump, Gina Raimondo, CGTN, Sanford C, Bernstein Organizations: Huawei, Service, Apple, Staff, Wall Street, ZTE, US, Weibo, Bloomberg, Sanford Locations: China, Beijing, Wall, Silicon, Cupertino, Europe
☆ Chanel's CEO says she's been the 'first woman, the first brown person, the first Asian, the first Indian' in every job – and wants to lift others up
  + stars: | 2023-08-29 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
Chanel CEO Leena Nair told The Wall Street Journal she's been a trailblazer in every job she's had. The 54-year-old is the luxury fashion retailer's second female boss in its 113-year history. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. The French luxury retailer appointed Leena Nair as only its second female boss in its 113-year history in January 2022. Maureen Chiquet became the Chanel's first female boss when she was appointed as its global CEO in 2007, before she resigning in 2016 due to strategic differences.
Persons: Leena Nair, she's, Nair, Chanel, I've, Pascal Le Segretain, she'd, Maureen Chiquet, Alain Wertheimer Organizations: Wall, Service, Wall Street, Unilever, Chanel Locations: Wall, Silicon, Paris
☆ Caterpillar, Emerson and Pioneer are in the news. Here’s our Club take on the headlines
  + stars: | 2023-03-06 | by ( Paulina Likos Kevin Stankiewicz | Paulina Likos | Kevin Stankiewicz | ) www.cnbc.com   time to read: +7 min
Club holdings Caterpillar (CAT), Emerson Electric (EMR) and Pioneer Natural Resources (PXD) are in the news Monday. Emerson's decline is overblown EMR YTD mountain Emerson Electric (EMR) YTD performance The news: UBS upgraded its rating on American industrials giant Emerson Electric back to a buy but lowered its price target by $3-per-share to $97. We also agree that EMR stock has an attractive valuation. So, we were never contemplating any deal with Range Resources," Sheffield said. The Club continues to ponder whether to continue owning three different exploration and production companies: Pioneer, Coterra Energy (CTRA) and Devon Energy (DVN).
☆ Top 10 things the Club is watching in the stock market Monday: Stocks look mixed, dueling Disney notes
  + stars: | 2023-02-13 | by ( Jeff Marks | ) www.cnbc.com   time to read: +4 min
Club holding Caterpillar (CAT) downgraded to neutral (hold) at Baird; price target cut to $230 per share from $290. Disney (DIS), a Club stock, price target is lowered to $130 per share from $145 at Citi; keeps a buy rating following last week's solid earnings and restructuring announcement. Merck (MRK) price target is increased to $125 per share from $120 at Credit Suisse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
☆ Nordstrom could use an activist, but Ryan Cohen might not be the right one
  + stars: | 2023-02-03 | by ( Christina Cheddar Berk | ) www.cnbc.com   time to read: +6 min
Activist investor Ryan Cohen is building a stake in the department store chain as he looks to shake up its board, people familiar with the matter told CNBC. Tritton had once worked at Nordstrom, and Cohen thinks this makes him "conflicted and unqualified" to serve, the Journal report said. JWN 1D mountain Nordstrom shares surged after a report says Ryan Cohen is building a stake in the department store chain. 'Begs for an activist' The department store business hasn't been an easy one as shoppers buy more goods online or look to avoid large malls. The analyst also recalled that El Puerto de Liverpool, a Mexico City-based department store operator, holds a 10% stake in Nordstrom.
☆ Activist investors in Salesforce spell good news for shareholders like us
  + stars: | 2023-01-23 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +4 min
Pressure from activist investors is mounting at Club holding Salesforce (CRM). Elliott's investment in Salesforce comes roughly three months after activist investor Starboard Value disclosed a position in the company. Moreover, Jim Cramer has said, at least two other investors with activist backgrounds, including Jeff Ubben , have taken a stake in Salesforce. If these high-profile investors thought Salesforce was irreparably damaged company, whose tech was at a competitive disadvantage, they may have looked elsewhere. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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