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☆ Short seller alleges Oddity Tech is misleading investors
▼ + stars: | 2024-05-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. Ningi has a short position in Oddity but didn't disclose the size of that position. Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online. Ningi Research is alleging that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based. Oddity previously told CNBC that more than half of its business is from repeat customers.

Persons: it's, Ningi, didn't, ODDITY's, they've, Oran Holtzman, Holtzman, authorizations, We'll, we've Organizations: Tech, CNBC, Ningi, U.S . Ningi, Better Business Locations: Israel, U.S

☆ World’s most expensive feather sells at New Zealand auction
▼ + stars: | 2024-05-21 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

CNN —A feather from a long-extinct New Zealand bird has set a record after selling for $46,521 NZD (about $28,400 USD), the auction house handling the sale has said. The huia bird feather, which was expected to sell for up to $3,000 NZD ($1,830), smashed the estimate on Monday to become the world’s most expensive feather ever sold, Webb’s Auction House said. For Maori, the bird’s feathers were a mark of high status and the distinctive, white-tipped plumage were used for ceremonial headdresses. A Maori chief wears a huia feather in his hair Bettmann Archive/Getty ImagesEuropean New Zealanders also came to see the huia as a symbol of prestige. “People kind of had a frenzy and decided that everyone wanted a huia feather,” said Morris of the event.

Persons: Leah Morris, Duke, Duchess, York, ”, Morris, Johannes Keulemans Organizations: CNN, Museum, New, Getty, New Zealand, New Zealand’s Ministry for Culture and Heritage Locations: Zealand, Auckland, New Zealand, Zealanders, Dutch

☆ Charts show little fear of a market drawdown. So now may be a good time to hedge
▼ + stars: | 2024-05-21 | by ( Todd Gordon | ) www.cnbc.com time to read: +5 min

Breaking down the market charts The S & P 500 broke out above the 2021 highs of 4,820 in the first two weeks of this year. Again, I don't know. I don't know. And I'm content to come before you and say I don't know and we can't know. This measures how much premium is embedded in the at the money puts and calls in the S & P 500.

Persons: Todd Gordon, Gordon Organizations: Nvidia, Inside Edge, Inside Edge Capital Management

☆ A Gen Xer who barely lives above the poverty line sells plasma to cover her rent because she doesn't qualify for government assistance: 'There's a lot of praying and just hanging on.'
▼ + stars: | 2024-05-21 | by ( Allie Kelly | ) www.businessinsider.com time to read: +4 min

Kelley used to drive 30 minutes across the Kentucky border every morning to work as a security guard. A growing number of American households can barely pay their bills but make too much to qualify for government assistance. Kelley can't afford healthcare and has started selling her plasma for extra moneyKelley said her top expenses are housing and food. She also said it's a lot more difficult to qualify for government assistance since she isn't actively supporting children. "If you make too much, there's no help; if you are healthy, there's no help; if you don't have kids, there's no help."

Persons: —, Lisa Kelley, Kelley, she's, ALICE —, ALICE, I've, She's, isn't Organizations: Service, Business, Survey, United Way's, Medicare Locations: Cincinnati, Kentucky, DollarTree

☆ Nestlé is releasing a lineup of frozen food for people on Ozempic and other GLP-1 drugs
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +4 min

New York CNN —Nestlé, the maker of frozen food brands like Stouffer’s and DiGiorno, is slimming down with a new line of meals for people taking GLP-1 drugs, such as Ozempic, for weight loss. However, a recent study on Wagovy significantly reduced heart risk in addition to helping with weight loss. An example of Vital Pursuit food. It also made a $100 million-plus deal to buy Sequence, a telehealth business that offers virtual prescriptions to patients for these weight loss drugs where appropriate. Food companies, like Nestlé, are also bracing for GLP-1 consumers to buy fewer sugary snacks and drinks.

Persons: New York CNN — Nestlé, It’s, Morgan, Steve Presley, Neil Saunders, Nestlé, it’s “, Saunders, ”, “ Nestlé, Sesame, WeightWatchers, ” Saunders, CNN’s Nathaniel Meyersohn Organizations: New, New York CNN, North, GlobalData, Lean, CNN, Companies, Costco, Equinox Locations: New York

☆ Wilson deal: Caitlin Clark just did something no athlete has done since Michael Jordan
▼ + stars: | 2024-05-21 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Breakout basketball star Caitlin Clark has a new achievement that hasn’t been accomplished since Michael Jordan. The WNBA player signed a multiyear deal with Wilson Sporting Goods Co., the league’s official basketball supplier, for “signature basketball collections celebrating Clark’s continued legacy,” the company announced Tuesday. In addition, she will “creatively direct her first-ever signature basketball line” that will roll out later this year. Wilson, which has produced the basketballs for the NBA for several decades, became the official game ball of the WNBA in 2020. Nike is also reportedly on the verge of signing Clark to design her shoe line, but no official deal has been formally announced.

Persons: Caitlin Clark, hasn’t, Michael Jordan, Clark’s, Wilson, Clark, “ Wilson, ” Clark, ” Organizations: New, New York CNN, WNBA, Wilson Sporting Goods Co, CNN, NBA, Indiana Fever, ESPN2, ESPN, Nike, Farm, Gatorade, Panini Locations: New York

☆ Here's how Disney’s streaming business can work toward Netflix-like profitability
▼ + stars: | 2024-05-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +14 min

Disney's streaming margins, while still negative due to losses and nowhere near Netflix's, have improved significantly in recent quarters and are now on the doorstep of an important milestone. Disney's streaming overview Disney+ is its flagship streaming service across the globe. The ARPU discrepancy on Disney+ core helps explain why Netflix is much more profitable than Disney's streaming business. Given that Disney's streaming business has rolled out pretty much everywhere across the globe, Cruetz said moving forward "it's about driving more penetration in those markets." The latest is a matchup with Disney and HBO's parent Warner Bros Discovery , whose flagship streaming service is called Max.

Persons: Bob Iger, Disney, Iger, Covid, Morgan Stanley, It's, That's, Cowen, Doug Creutz, Hulu's, Cowen's Cruetz, Brandon Nispel, Cruetz, TD Cowen, Max, Creutz, cannibalization, it's, KeyBanc's Nispel, Wells Fargo, Jim Cramer's, Jim Cramer, Jim, Presley Ann Organizations: Disney, Netflix, ESPN, Reliance Industries, Century Fox, CNBC, Comcast, Capital, Warner Bros Discovery, Getty Locations: Netflix's, Hulu, India, Malaysia, Philippines, Thailand, U.S, Canada, Europe, Africa, West Asia, Los Angeles

☆ How I built a billion dollar coffee company called Kopi Kenangan
▼ + stars: | 2024-05-20 | by ( Ernestine Siu | ) www.cnbc.com time to read: +12 min

And recognizing that very notion is what makes Indonesian coffee chain Kopi Kenangan different from many of its competitors. Which is why this cup of Kopi Kenangan coffee here in Singapore may taste different from a cup in Indonesia. Edward Tirtanata: Before I started Kopi Kenangan, I started this tea chain called Lewis and Carroll. And that is why our first menu is called Kopi Kenangan Mantan, which directly translates into, memory of my ex-girlfriend coffee. Ernestine Siu: In 2019, Kopi Kenangan received its first outside investment of $8 million from venture capital firm Alpha JWC Ventures.

Persons: Edward Tirtanata, Ernestine Siu, It's, Serena Williams, Jay, Eduardo Savrin's, Edward, Kopi Kenangan, Carroll, James Prananto, James, Little, Kopi, creamer Organizations: Alpha JWC Ventures, Northeastern University, Starbucks, Entrepreneurship, Toyota Locations: Jakarta, Singapore, New York, Indonesia, Vietnam, Southeast Asia, Boston, United States, Kopi, Bandung, U.S, Indonesian

☆ These corporate insiders have bought and sold millions of their own stock in May
▼ + stars: | 2024-05-20 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

Corporate insiders have been actively buying and selling their own stock in May, with one recent weeklong stretch showing higher ups at five different companies spent at least $1 million, according to VerityData. A similar situation happened at Akamai Technologies , where CEO Tom Leighton bought about $2 million worth of stock last Tuesday. Insider sales The dollar figures attached to major insider sales during the same time period were even larger than the buys. Meanwhile, Crowdstrike CFO Burt Podbere sold about $8 million of stock, with chief security officer Shawn Henry also selling shares. The CEOs of Squarespace and T-Mobile each sold more than $6.5 million worth of stock.

Persons: VerityData, Jared Isaacman, Isaacman, Nancy Disman, Tom Leighton, Anthony Williams, John Childs, Childs, Gregory Bailey, Vlad Coric, Jayshree Ullal, Burt Podbere, Shawn Henry, Anthony Casalena's, Jonathan Neman, —, Nick Wells Organizations: Shift4, Akamai Technologies, VerityData, Arista Networks, Mobile Locations: Biohaven

☆ Is America ready for a $400 pineapple? Luxury fruit is now a thing
▼ + stars: | 2024-05-19 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +9 min

The Rubyglow pineapple –— bred for its distinctive red exterior and its sweetness — costs $395.99 at Melissa’s Produce, a California-based seller of specialty fruit and veggies. It took Del Monte, a wholesaler which sells a variety of produce but specializes in pineapple, a decade and a half to develop the red-hued fruit. And yet, there’s interest in premium fruit — enough to convince Del Monte to bring the Rubyglow, which is grown in Costa Rica, stateside. Courtesy Fresh Del MonteThe Pinkglow was never supposed to be a grocery list staple, said Melissa Mackay, VP of marketing in North America at Del Monte. Melissa’s started with 50 pineapples, according to Robert Schueller, director of public relations at Melissa’s Produce.

Persons: Del, ”, Cindy van Rijswick, “ there’s, Cotton Candy, McIntosh, Jim Luby, Patrick T, Fallon, Luby, Lane Turner, Oishii, Hiroki Koga, Jerod Harris, Melissa Mackay, “, It’s, Melanie Zanoza Bartelme, pricey, Hailey, Strawberry, it’s, Melissa’s, Robert Schueller, ” Schueller, Bo Corley, ” Corley, Corley Organizations: New, New York CNN, “, University of Minnesota, Getty, Rabobank, Citrus, Boston Globe, Vox Media, Del, Mintel, Melissa’s Locations: New York, California, Del Monte, China, United States, America, Costa Rica, AFP, Minnesota, Beverly Hills , California, North America, Erewhon, Angeles, Las Vegas, Southern California

☆ Meet WiFi Money: Wealthy Finance Influencers Who Infuriated Investors
▼ + stars: | 2024-05-19 | by ( Rob Price | ) www.businessinsider.com time to read: +26 min

The Texas couple were staring down more than $100,000 in debt, much of which they had poured into WiFi Money. Those who give their money to WiFi Money are often encouraged to sign up other people in return for a cut of their profits — and perhaps, one day, a chance to become part of the WiFi Money crew. As the money poured in, WiFi Money gained a patina of mainstream credibility. AdvertisementThrough WiFi Money, Moeller and Frederick had created a virtuous cycle of money and influence. The same month investors took WiFi Money to court over the stores, DBC announced it was closing down.

Persons: Alex Moeller, influencer, Jasmine Sadry, Joey Martin, Martin, Moeller, Chris Frederick, Casa Moeller Martinez, MentorCI, Kim Kardashians, Gary Vee, Uber, Etsy, Farnaz Ghaedipour, Frederick, Jay Gatsby, Scott Fitzgerald's, Brandon Celi, There's, Billy, Chris Casey, There's Todd Cahill, Liz Friesen, Tana Mongeau, Kardashian, —, James Ragano, BI Moeller, wouldn't, Kyle McDougal, Sadry, Kyncey, McDougal, hustlers, Kevin O'Leary, Jordan Belfort, Ronaldinho, Glenn Beck, I've, he'd, Daemon, I'm, they'd, It's, Chris Costello, Francis, Ashley, Costello, Gatsby, Casey, Avery Williamson, Victor Bermudez, DBC, They're, Instagram, Rolex Submariner Organizations: WiFi, Lamborghini, McLaren, Fox News, YouTube, Invest, Stanford University, PBS, BI, Social, Yahoo Finance, Business, Times, Piccadilly Circus, Fort, DMs, Kyncey Investments, Amazon, Kyncey, Investors, CNN, Fox Business, Big Tech, Florida Tropics Soccer Club, Royce, WiFi Money, Federal Trade Commission, WifiMoney, IRS, NFL, Dallas, Rolex Locations: Instagram, Mexico, Texas, Dallas, Quito, Ecuador, @amoeller, Florida, pecs, Maryland, Europe, Illinois, Mita, Burj, Fort Worth, dropshipping, Brazilian, New York City, ensconced, Minnesota, Los Angeles, Munich

☆ Benedictine Sisters denounce Harrison Butker’s speech as his jersey sales rise
▼ + stars: | 2024-05-18 | by ( The Athletic Staff | ) www.nytimes.com time to read: +4 min

AdvertisementIn a statement released Friday, the sisters of Mount St. Scholastica said they “do not believe that Harrison Butker’s comments in his 2024 Benedictine College commencement address represent the Catholic, Benedictine, liberal arts college that our founders envisioned and in which we have been so invested. “Instead of promoting unity in our church, our nation, and the world, his comments seem to have fostered division. These women have made a tremendous difference in the world in their roles as wives and mothers and through their God-given gifts in leadership, scholarship, and their careers.”The Benedictine Sisters are a founding institution and sponsor of Benedictine College, according to the Mount St. Scholastica website. Butker’s jersey sales appear to be rising significantly since he delivered the 20-minute speech. (Christian Petersen / Getty Images)The NFL distanced itself from the ideas Butker expressed in his speech.

Persons: Scholastica, Harrison Butker’s, ”, Harrison, …, Tavia Hunt, Clark Hunt, Instagram, “, ” Hunt, Christian Petersen, Butker, Jonathan Beane, ” Beane, Lou Holtz, ” Holtz, Harrison Butker, Tim Nwachukwu Organizations: Benedictine College, Catholic, Kansas City Chiefs, Month, Benedictine, Chiefs Pro Shop, Chiefs, The Athletic, Institute for Family Studies, Getty, NFL, Athletic, People, America Locations: Mount St, Atchison , Kansas, St

☆ Opinion | What Hillary Clinton Got Wrong About Student Protesters
▼ + stars: | 2024-05-17 | by ( Elizabeth Spiers | ) www.nytimes.com time to read: +2 min

Appearing last week on “Morning Joe,” Hillary Clinton lamented what she views as the ignorance of students protesting the war in Gaza. The host, Joe Scarborough, asked her about “the sort of radicalism that has mainstream students getting propaganda, whether it’s from their professors or from the Chinese Communist government through TikTok.” Ms. Clinton was happy to oblige. “I have had many conversations, as you have had, with a lot of young people over the last many months,” she said. I’ve also seen and heard the assumptions made about them by some of their elders — administrators, parents and others. In the current panic, the protesters are described as somehow both terribly fragile and such a threat to public safety that they need to be confronted by police officers in riot gear.

Persons: ” Hillary Clinton, Joe Scarborough, Ms, Clinton, “, ”, ” I’ve, I’ve, it’s, Ken Griffin, Bill Ackman, Donald Trump —, —, whiny ”, Mike Lawler, Mr, Lawler, Kaz Daughtry, Rousseau Organizations: Communist, New York, Republican, Columbia University, Columbia, Oxford University Locations: Gaza, TikTok, New, New York, U.S

☆ Cramer reviews GigaCloud, says the company's story is 'unnecessarily fraught'
▼ + stars: | 2024-05-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday reviewed the performance of GigaCloud Technology , a company that offers business-to-business ecommerce systems for large parcel merchandise, like furniture. GigaCloud's stock has soared since it became public in 2022, putting up some great earnings reports, according to Cramer. But last fall, a report from short-seller firm Culper Research called some of the company's business methods into question. Culper also claimed an investigator it sent to some of the company's U.S. warehouses observed "laughably sparse activity" there. "If you take everything about the story at face value, then buying GigaCloud would be a no-brainer," he said.

Persons: CNBC's Jim Cramer, GigaCloud, Cramer, Culper Organizations: GigaCloud Technology, Research Locations: Asia, U.S

☆ Two trades to generate some income from outperforming retailers Walmart and Amazon
▼ + stars: | 2024-05-17 | by ( Michael Khouw | ) www.cnbc.com time to read: +4 min

As we think about the multiple premium afforded to online retailers such as Amazon, Walmart's global eCommerce sales rose 21%. Walmart shares, at 26 times earnings, are value-priced relative to Costco's 46 times earnings. Amazon trade Amazon (AMZN) is growing topline considerably faster. Amazon revenues overtook Costco in 2016, and 2025 could be the first year that Amazon revenues exceed Walmart's. If growth is what you're after buy Amazon.

Persons: eCommerce Organizations: Walmart, Costco, Sam's

☆ Seeking Access to Congo’s Metals, White House Aims to Ease Sanctions
▼ + stars: | 2024-05-16 | by ( Eric Lipton | ) www.nytimes.com time to read: +1 min

Three years after Biden administration officials tightened sanctions on a billionaire Israeli mining executive for corrupt business practices in the Democratic Republic of Congo, they have reversed themselves and are offering the executive a deal they hope will bolster the supply of a metal vital to electric vehicles. The plan would allow the executive, Dan Gertler, to sell off his remaining stakes in three giant copper and cobalt mining operations in Congo. Once Mr. Gertler sells his positions, the Biden administration hopes Western-leaning companies will be more willing to invest in Congo, perhaps delivering a greater supply of cobalt to the United States as automakers race to increase domestic production of batteries. But certain State and Treasury Department officials strongly opposed the effort, saying that Mr. Gertler should not be allowed to profit from his deal-making, which the Biden administration earlier argued had cheated the citizens of Congo out of more than $1 billion in mining revenues.

Persons: Dan Gertler, Gertler, Biden Organizations: Biden, Democratic, Treasury Department Locations: Democratic Republic of Congo, Congo, United States

☆ Walmart Opens the Year With Stronger Sales and Profit
▼ + stars: | 2024-05-16 | by ( Jordyn Holman | ) www.nytimes.com time to read: +1 min

The Numbers: Sales grew in stores and especially online. Walmart said its comparable-store sales in its U.S. business rose 3.8 percent from the quarter a year earlier. Walmart has performed better than retailers dependent on apparel sales, in part because it also sells essential goods like groceries. Walmart’s quarterly profit, of $5.1 billion, was triple the result a year earlier. The retailer’s stock rose in premarket trading, as investors reacted to last quarter’s results and the company’s upgraded forecast for growth this year.

Persons: ”, David Silverman Organizations: Walmart, Fitch

While he suffered in wet running shoes all day, a few of the guides around him were wearing Teva sandals. In the last 30 years, Paigen's take on the sport sandal, Chaco, has become a cult favorite among outdoor adventurers worldwide. With the sandal design finalized, all that was left to decide was a name. AdvertisementTaking a closer look at the Chaco Z/1 Classic SandalChaco now sells many different sandal styles. For years I was firmly against wearing sandals, but I've softened my stance recently.

Persons: Mark Paigen, Paigen's, Paigen, I've, I'm, Chacos, — Sally Kaplan, they'd, Lavender, couldn't, Connie Chen, Chaco, — Breton Fischetti, REI Organizations: Business, Wolverine Worldwide, Urban Outfitters, Commerce Urban, Amazon, Nordstrom, Nike Locations: Colorado, Chaco, New York, —

☆ I tried 23 popular frozen meals from Trader Joe's, and would buy at least half of them again
▼ + stars: | 2024-05-16 | by ( Savanna Swain-Wilson | ) www.businessinsider.com time to read: +34 min

I'm picky about instant meals, though, so I reviewed 23 of Trader Joe's frozen entrées. AdvertisementVERDICT: Although Trader Joe's penne arrabbiata could make for a satisfying, last-minute dinner, it wasn't memorable enough for me to buy again. Trader Joe's frozen section offers many different Tex-Mex and Mexican-inspired dishes, but I noticed these because of the "hatch chile" description. I thought Trader Joe's vegetable-and-cheese enchiladas were a disappointing, soggy messOnce cooked through, Trader Joe's vegetable-and-cheese enchiladas didn't impress me. I hoped Trader Joe's spicy peanutty noodle bowl with chicken would be goodI enjoyed Trader Joe's spicy peanutty noodle bowl with chicken.

Persons: —, Joe's, Wilson, Wilson I'm, it's, penne arrabbiata, I'm, fryer, Savanna, gooey Monterey Jack oozed, they're, might've, I've, provolone, Wilson Jackfruit, didn't, It's, I'd, you've, mozzarella, Bolognese, would've, bolognese, microwaving, gnocchi, it'll, chow, chiles, Wilson I, raved Organizations: Service, Business, Monterey, Wilson, Joe's Locations: Savanna, Monterey Jack, gooey Monterey, Cuban, pesto, jalapeño, gnocchi

☆ Wayfair to open its first large store, as physical locations make a comeback
▼ + stars: | 2024-05-16 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +10 min

Wayfair follows other direct-to-consumer brands that have opened stores, including Warby Parker , Figs , Casper, Glossier and Everlane. In the early 2010s, new store openings largely outpaced closures, until the tide turned in 2017. Jeenah Moon | Bloomberg | Getty ImagesOther privately held direct-to-consumer brands have also expanded into retail stores, including bedding company Brooklinen, furniture store Burrow and apparel brands Everlane and Untuckit. High cost of entryIf direct-to-consumer brands could all open stores and suddenly boost sales and profitability, they'd all be doing it. Courtesy: WayfairSome direct-to-consumer brands have already been burned after they expanded too quickly and demand fell.

Persons: Niraj Shah, Wayfair, Warby Parker, Glossier, They're, Larry Cheng, It's, you'll, Liza Lefkowski, Shah, Coresight, John Mercer, Coresight's, Trina Spear, Spears, King, King of Prussia, Rebecca Fitts, Alvarez, Tolia, Allbirds, Al Drago Organizations: CNBC, Apple iOS, Companies, Walmart, Target, Joss, Discount, TJX, Bloomberg, Getty, Marsal, Washington , D.C Locations: Wilmette , Illinois, Chicago, Casper, Amazon, U.S, Coresight Research's, Burlington, Los Angeles, Philadelphia, King, King of Prussia , Pennsylvania, Georgetown, Washington ,

☆ ‘Big Short’ investor Michael Burry piles into physical gold fund, making it his biggest bet
▼ + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Michael Burry, known for calling the subprime mortgage crisis, piled into a physical gold trust in the first quarter, making it his biggest bet, according to a new regulatory filing. Burry, who now manages hedge fund Scion Asset Management, bought more than 440,000 units of the Sprott Physical Gold Trust (PHYS), worth more than $10 million in the first quarter. The closed-end fund holds its assets in physical gold bullion. The gold trust is trading at a discount to its net asset value. The widest discount PHYS has traded at over the past 52 weeks is 2.52%.

Persons: Michael Burry, Burry, It's, Michael Lewis Organizations: Asset Management, Nuveen, JD.com, HCA Healthcare, Citigroup, Block, Securities and Exchange

☆ Tesla's Chinese rival Nio launches a new brand and car that undercuts the Model Y by $4,000
▼ + stars: | 2024-05-15 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +2 min

In this article 9866-HK Follow your favorite stocks CREATE FREE ACCOUNTChinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China. CNBC | Evelyn ChengSHANGHAI — Chinese electric car company Nio revealed Wednesday that the first car for its new, lower-priced brand, Onvo, will be about $4,000 cheaper than Tesla's comparable Model Y. Elon Musk's electric SUV has been one of the best-selling pure battery-powered electric cars in China. watch nowFierce competition in China's electric car market has invited new entrants and prompted many companies to cut prices. Smartphone company Xiaomi in late March entered the electric car market with its SU7 sedan to rival Tesla's Model 3 with a price that was also about $4,000 cheaper.

Persons: Nio, Evelyn Cheng SHANGHAI, William Li, Onvo, CNBC's Eunice Yoon, Elon, Xiaomi, BYD, Li, Biden, Tesla Organizations: HK, CNBC, Onvo's, Tesla's, Elon Musk's Locations: Shanghai, China, Europe, .

☆ Adtech firm TripleLift strikes deal with Amazon to solve one of the biggest challenges in its $46 billion ad business
▼ + stars: | 2024-05-15 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +1 min

Adtech firm TripleLift has partnered with Amazon on so-called native ads. TripleLift will also pitch the product to other retailers with other types of ad formats. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdtech firm TripleLift has partnered with Amazon to allow advertisers to extend campaigns beyond Amazon's own websites. New York-based TripleLift, founded in 2012, sells these formats on behalf of publishers, and the ads are designed to resemble publishers' content.

Persons: TripleLift, Sellers, — Organizations: Amazon, Service, Business Locations: New York

☆ Dell surges 9% on optimism it has secured big AI server orders
▼ + stars: | 2024-05-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Dell is seeing accelerating momentum, especially in winning business to build AI servers, unlocking a new bull case for the stock, Morgan Stanley analyst Erik Woodring wrote in a note on Wednesday. "All-in, we are hearing about more AI server momentum at Dell than at any other OEM," Woodring wrote, saying that he expected about $10 billion of AI server revenue in the company's fiscal 2025 — ending next February. Most AI servers are built around Nvidia's chips which have become prized in the technology industry because they are used to build and deploy advanced AI models from companies like Google , OpenAI and Meta . Dell sells servers using the newest Nvidia AI chips, including its H100 GPU and the latest Blackwell-generation chips. But the PC industry is on course to grow again and is outperforming lowered expectations, Woodring wrote, which will benefit Dell.

Persons: Michael Dell, Morgan Stanley, Erik Woodring, Woodring, Wednesday's, Jensen Huang, Huang, Michael, Dell Organizations: Dell Technologies, Mobile, Dell, Hewlett Packard Enterprise, Google, Meta, Blackwell, Nvidia, Microsoft Locations: Barcelona, Spain

☆ Trade Tracker: Amy Raskin sells Nike and CVS
▼ + stars: | 2024-05-14 | 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 EmailTrade Tracker: Amy Raskin sells Nike and CVSAmy Raskin, CIO at Chevy Chase Trust, joins CNBC's "Halftime Report" to discuss her latest stock sales.

Persons: Amy Raskin, CVS Amy Raskin Organizations: Nike, CVS, Chevy Chase Trust

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