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☆ 23andMe is low on cash and its stock is worth pennies. The CEO wants another chance
▼ + stars: | 2024-02-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Just three years ago, DNA testing company 23andMe was the golden child of Wall Street and Silicon Valley. In 2018, 23andMe agreed to a five-year exclusive drug development partnership with GSK (formerly GlaxoSmithKline). Genetic testing company 23andMe, once valued at $6 billion, is facing the possibility of delisting from NASDAQ. Justin Sullivan/Getty ImagesSo far, the partnership between GSK and 23andMe has produced more than 50 new drug targets. But drug discovery is a very long process and it can be anywhere from 10 to 15 years on average from target discovery to an FDA-approved drug.

Persons: New York CNN —, 23andMe, Anne Wojcicki, ” Wojcicki, “, Susan Wojcicki, Sergey Brin, Kyle Grillot, Wojcicki, they’ve, ”, we’re, “ We’ve, Steven Mah, TD Cowen, Mah, they’re, Justin Sullivan Organizations: New, New York CNN, Nasdaq, CNN, Stanford, Palo Alto High School, YouTube, Google, 23andMe Inc, Bloomberg, Time Magazine, P Biotech ETF, GSK, GlaxoSmithKline, NASDAQ, Big Pharma, it’s Locations: New York, Silicon Valley, Los Angeles , California, U.S, London, Sunnyvale , California, United States

☆ Silver Lake Looks to Privatize Hollywood Agency Titan Endeavor
▼ + stars: | 2023-10-25 | by ( Jessica Toonkel | Joe Flint | ) www.wsj.com time to read: 1 min

Ari Emanuel, chief executive officer of Endeavor, says, ‘an evaluation of strategic alternatives is a prudent approach’ to ‘maximizing value for our shareholders.’ Photo: Kyle Grillot/Bloomberg NewsPrivate-equity giant Silver Lake said it is working on a proposal to take private Endeavor Group Holdings, the owner of talent agencies WME and IMG. “Silver Lake firmly believes in Endeavor’s business and is not interested in selling its shares in Endeavor to a third-party nor in entertaining bids for assets that are a part of Endeavor,” the firm wrote in a statement. Silver Lake owns about 71% of the voting stake in Endeavor.

Persons: Ari Emanuel, Kyle Grillot, Silver Organizations: Endeavor, ’, Bloomberg, Private, Endeavor Group Holdings, Silver Lake

CNN —Millions of American homeowners could see insurance rates surge in the coming years in part due to worsening climate disasters, new data shows. It’s another alarming sign for the future of America’s homeowners’ insurance market. “We’re still kind of at the forefront of the insurance industry pricing in climate risk into the real estate market,” Porter told CNN. Premiums are at risk of surging to a lesser extent in cities across the country, First Street data shows. “I know where the places are where people are dropping their insurance — it’s Florida, Louisiana, California and Colorado,” Bach told CNN.

Persons: ”, David Jones, Jeremy Porter, “, ” Porter, Hurricane Ian, Matias J, Jones, ” Jones, Amy Bach, Bach, ” Bach, Kyle Grillot, Reuters Jones, Porter, ‘ I’m, it’s Organizations: CNN, Foundation, UC Berkeley’s Center for Law, Energy, Hurricane, Miami Herald, Tribune, Service, Los, National Flood Insurance, FEMA, United, Residents, Reuters Locations: California , Florida, Louisiana, California, Matlacha , Florida, Florida, Texas, Vermont, Montpelier . Kentucky, West Virginia, Miami, Jacksonville, New Orleans, East Coast, Atlantic City , New Jersey, Virginia Beach, Norfolk , Virginia, Wilmington , North Carolina, Charleston , South Carolina, Savannah , Georgia, New York City, Phoenix, Chicago , Pittsburgh, Louisville, Cincinnati, West Coast, Riverside , California, Los Angeles, Gulf Coast, Plaquemines Parish , Louisiana, Collier County , Florida, Colorado, Wrightwood , California

☆ Frugal but fun: 'Simpsons' and podcast star Yeardley Smith on wealth
▼ + stars: | 2023-09-14 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

[1/2] Actor Yeardley Smith arrives at the Human Rights Campaign (HRC) dinner in Los Angeles, California, U.S., March 30, 2019. Smith has a fascinating sideline: co-host of the true-crime podcast "Small Town Dicks" which is about to launch its 13th season on Sept. 22. A: We were not well off, but my mother was really good with money. Like I have a friend whose son is really good at computers, and she was paying for him to take extra classes. I invest in things I love, things that move me, things that I believe will make the world a better place.

Persons: Yeardley Smith, Kyle Grillot, Lisa Simpson, Smith, Tom Stoppard, Jeremy Irons, Glenn Close, Christine Baranski, Cynthia Nixon, Yeardley, Lauren Young, Richard Chang Organizations: Human Rights, REUTERS, Apple, Reuters, Broadway, Saks, Thomson Locations: Los Angeles , California, U.S, New York City, Italy, Florence

☆ 8 of the world’s best new theme parks
▼ + stars: | 2023-08-18 | by ( Kate Springer | ) edition.cnn.com time to read: +13 min

Peppa Pig Theme Park, FloridaFlorida's Peppa Pig Theme Park opened in 2022. Peppa Pig Theme ParkThe world’s first Peppa Pig Theme Park opened last year in Winter Haven, Florida, and has been delighting children with wholesome fun ever since. Look out for another Peppa Pig Theme Park, opening in Dallas, Texas, next year. Peppa Pig Theme Park. Genting SkyWorlds Theme Park, MalaysiaMalaysia's Genting SkyWorlds Theme Park offers 26 attractions across nine themed areas.

Persons: we’re, Katmandu, Kilgore Goode, Kyle Grillot, Peach’s, Mount Beanpole, Mario, Bowser, Bowser Jr, Tomohiro Ohsumi, Miyazaki’s, There’s, LEGOLAND, gil, Aquaverse, there’s, Chang, Potato’s, Grandad, Wynter, ” Organizations: CNN, Northern, Columbia Pictures, Super Nintendo, California Mario Kart, Universal Studios Hollywood, Bloomberg, Universal Studios Japan, Mushroom Kingdom, Toadstool, Nintendo, Universal City Plaza, Universal, Ghibli, Ghibli Park, South Korea LEGOLAND, LEGOLAND, Thailand Columbia Pictures, Columbia, Lotte, Adventure, South Korea Lotte, Adventure Busan Lotte, Tinker, Potato’s Showtime, Genting, Andromeda Base, Plaza, Genting SkyWorlds Locations: Japan, Thailand, Punta Cana, Dominican Republic, Caribbean, Nepal, Av, Alemania, California, Bowser’s, Mount, Universal City , CA, Nagoya, Nagakute, Aichi, Korea, South Korea, York, Legoland, LEGOLAND Korea, Chuncheon, Seoul, Gangwon, Asia, Pattaya, Bangkok, Transylvania, Chon, Adventure Busan, Tinker Falls, “ Queen, “, Busan, Florida, Winter Haven , Florida, Dallas , Texas, Wynter Haven , Florida, Malaysia, Resorts, Kuala Lumpur, Rio, Liberty Lane, Central Park, Genting, Genting Highlands, Pahang

☆ Crypto firm Ripple buys Swiss startup as SEC crackdown forces companies to consider overseas moves
▼ + stars: | 2023-05-17 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Ripple CEO Brad Garlinghouse speaks during the Milken Institute Global Conference in Beverly Hills, California, on Oct. 19, 2021. "This is the largest deal we've seen in the last year," Brad Garlinghouse, CEO of Ripple, told CNBC on a call Tuesday. Garlinghouse said last week that the firm will have spent $200 million in total defending itself against the SEC lawsuit. Numerous crypto industry insiders have been calling for a clear regulatory framework from the U.S. Congress to help give companies clarity over how they can operate in a way that's legally sound. WATCH: Ripple will have spent $200 million fighting SEC lawsuit, CEO says

☆ Verizon Chief Marketing Officer Diego Scotti Stepping Down After Eight Years
▼ + stars: | 2023-05-15 | by ( Patrick Coffee | Suzanne Vranica | ) www.wsj.com time to read: 1 min

Diego Scotti became one of the industry’s most visible marketing executives during his tenure at Verizon, with a focus on diversity among the telecommunications giant’s marketing partners. Photo: Kyle Grillot/Bloomberg NewsVerizon Chief Marketing Officer Diego Scotti has announced that he will step down after nearly nine years in the role, according to people with direct knowledge of the matter. Mr. Scotti told several contacts in recent days that he would be leaving Verizon but didn’t indicate if he would be moving to another job, they said. Mr. Scotti didn’t immediately respond to a request for comment.

☆ Tech giants are pouring money into A.I. as they cut costs elsewhere
▼ + stars: | 2023-04-28 | by ( Kif Leswing | ) www.cnbc.com time to read: +7 min

He said Google is using AI to improve the conversion rate of ads and reduce the amount of "toxic text" that goes into AI models. "There will be a small number of companies that want to invest that time and money and we will be one of them at Amazon," Jassy said. A concept he's particularly excited about is "AI agents," which often refer to AI programs that can carry out goals. "At this point we are no longer behind in building out our AI infrastructure," Zuckerberg said. Zuckerberg said the company would need to "continue investing," but would do so after it launches its generative AI products and gets a better grasp on the resources required.

☆ California superbloom: Hillsides are exploding with wildflowers. Here's what it looks like from space
▼ + stars: | 2023-04-20 | by ( Stephanie Elam | ) edition.cnn.com time to read: +4 min

Kyle Grillot/Bloomberg/Getty ImagesVisitors walk through a field of wildflowers at the Antelope Valley Poppy Reserve in Lancaster, California on April 14. Hillsides are covered in colorful wildflowers, seen here in a satellite image in Palmdale, California, on April 10. Kyle Grillot/Bloomberg/Getty ImagesWildflowers bloom at the Antelope Valley Poppy Reserve in Lancaster, California, on April 14. Kyle Grillot/Bloomberg/Getty ImagesWhile California hasn’t closed state parks because of the superbloom, at least one town is demanding that tourists stay away. The Antelope Valley Poppy Preserve in Lancaster, California, on March 30.

☆ We're downgrading one of our tech stocks and raising the price target on another
▼ + stars: | 2023-04-17 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

We're downgrading our rating on one tech stock in the portfolio whose AI initiatives may be lagging its competitors and increasing the price target on another that is gaining market share. Google search has become too ingrained in today's society. Given the mounting uncertainties facing the tech giant, it is only prudent to downgrade our rating to a 2 from a 1. Palo Alto Networks (PANW): Shares of this leader in cybersecurity are brushing up against our initial price target of $200. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Ripple CEO Brad Garlinghouse speaks during the Milken Institute Global Conference in Beverly Hills, California, on Oct. 19, 2021. "The SEC and Gary Gensler has very outwardly said he views almost all crypto as a security. At a September event organized by the Practising Law Institute, Gensler said that the "vast majority" of cryptocurrency tokens are securities. watch nowThe XRP case has important implications for both Ripple and the broader crypto market. A judgment pronouncing XRP a security could potentially impose much stricter curbs on Ripple with respect to the token.

☆ Porsche IPO has two investor roadblocks to clear
▼ + stars: | 2022-09-16 | by ( Neil Unmack | ) www.reuters.com time to read: +5 min

The 2020 Porsche 911 Carrera 4S is introduced during a Porsche press conference at the Los Angeles Auto Show in Los Angeles, California, U.S., November 28, 2018. Porsche’s valuation rests on how closely it can mimic peer Ferrari (RACE.MI), and what discount should be applied to its complex governance. VW’s influence in Porsche will be diluted by Porsche SE’s stake. Volkswagen will divide Porsche’s shares into voting ordinary and preferred shares, which carry no voting rights. Porsche’s valuation is likely to be between 70 billion euros and 80 billion euros, Reuters reported, citing a source close to the matter.

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