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CNBC reached out to the SEC about the recent batch of Wells notices sent to crypto firms, and an agency spokesperson declined to comment. Exchanges, both centralized and decentralized, would be forced to choose between registering with the SEC, or delisting ether altogether. watch nowBoth Consensys and Uniswap suggest the SEC's broad approach to classifying securities may be outdated. "The SEC is arguing that the Uniswap protocol is an unregistered securities exchange, and that the Uniswap interface and wallet are both unregistered broker brokers," Ammori said. Uniswap argues in its response to the SEC that the majority of its trading volume is obvious nonsecurities, like ether, bitcoin and stablecoins.

Persons: Marvin Ammori, “ Ammori, Wells, Consensys, overreach, Joseph Lubin, Lubin, “, —, Christopher Gerold, Laura Brookover, Brookover, ethereum, Bill Hinman, Hinman, Patrick McHenry, Gary, Crypto, haven't, Uniswap, Ammori, there's, Alma Angotti, Guidehouse, Coinbase, We've, Christina Rea, We're, CNBC's Jordan Smith Organizations: Securities and Exchange Commission, Uniswap, SEC, Ethereum Foundation, CNBC, Security, New, New Jersey Bureau of Securities, Consensys, Securities, Exchange Commission's, of Corporation Finance, Rep, Robinhood Locations: U.S, Lubin, New Jersey, ethereum, R

☆ Longtime tech investor Dan Niles is fundraising. He explains why he believes now is the time for his Satori Fund.
▼ + stars: | 2024-05-16 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

Read previewTwenty years after Dan Niles started running his tech-focused portfolio at Lehman Brothers, he's looking to grow. Niles, a longtime money manager running the Satori Fund and a frequent market commentator, has only recently taken over the fund entirely. After the collapse of Lehman Brothers, which the fund was a part of, Niles spun the fund out. Now, under a new brand — Niles Investment Management — and with the current market environment, Niles is eyeing hundreds of millions in new capital for the fund. "Since 2007, it's been the right product at the wrong time," Niles said about his strategy in an interview with Business Insider.

Persons: —, Dan Niles, Lehman, Niles, it's, he's, Stanley Druckenmiller, George Soros, I've Organizations: Service, Lehman Brothers, Business, Niles Investment Management, Google, Microsoft, Amazon Locations: Niles, West Coast, South Florida, Seattle

☆ Instagram's top exec praised YouTube's monetization and dissed Snapchat's, as he explained his platform's approach
▼ + stars: | 2024-05-09 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +6 min

Last month, the company rolled out a new temporary "Spring Bonus," which he said was called Spring Bonus and not the "permanent bonus program" because he wanted to set expectations. For Instagram's bonus program to be successful, it would need to meet three criteria, according to Mosseri:It's a sustainable model, and Meta is not "burning cash." 'The thing I'm most excited about is subscriptions'The bonus program wasn't the only feature top of mind for Mosseri. Advertisement"The thing I'm most excited about is subscriptions," Mosseri said. And while it isn't useful for every creator, Instagram recently announced that there are now 2 million active subscriptions to creators on the app.

Persons: —, Adam Mosseri, Mosseri, — Haley Kalil, Hassan Khadair —, Instagram, she's, Kalil, I'm, TikTok, Snapchat, We're, That's, it's, YouTube's Organizations: Service, Meta's, YouTube, Business, Meta Locations: York

Goldman Sachs hiked its price target on Nvidia, calling for nearly 20% more gains ahead. The firm upgraded shares of Target to buy from neutral, and reiterated its $180 per share price target. The firm upgraded the clothing retailer to buy from neutral and increased its target price to $28 per share from $21. — Brian Evans 5:45 a.m.: Goldman Sachs raises Nvidia price target on still strong AI demand Goldman Sachs sees enough demand for artificial intelligence to drive sky high Nvidia even higher. The firm reiterated a buy rating on the chipmaker and raised its 12-month price target on the chipmaker to $1,100 from $1,000.

Persons: Goldman Sachs, TGT, Paul Lejuez, — Brian Evans, Wall, Brian Evans, Stephanie Yee, Toshiya Hari, Myles Allsop, Allsop, Fred Imbert Organizations: CNBC, Nvidia, UBS, Vale, Citi, Target, JPMorgan, UL Solutions, UL Locations: Monday's, North America, U.S, stoke, RIO

☆ Snapchat avoided 'AI' and leaned into real experiences in its annual pitch to brands
▼ + stars: | 2024-05-02 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +6 min

During the Snap-owned app's pitch to brands at its NewFronts presentation on Wednesday in New York, the company emphasized the value of real-world experiences, or IRL, over social-media scrolling. Sharing became contrived, and social media as a whole began feeling like an inauthentic version of our lives rather than a source of genuine connection." It's plastered ads on competitive social media platforms and billboards with its "Less Social Media. Related storiesSnapchat executives mentioned AI just once during the NewFronts presentation, saying the company had used AI models to build augmented-reality lenses. Snap is not the only social platform addressing lonelinessSnapchat's war against social media taps into a broader trend.

Persons: —, Colleen DeCourcy, Cipriani, DeCourcy, TikTok, Dan Whateley, NewFront, Meta's, Mervana Parekh, Snapchat, Patrick Harris, Piper Sandler Organizations: Service, Facebook, Meta, Business, NFL, NBA, NBC, Entertainment, Media, Snap's, Acrew, Big Tech Locations: New York, Manhattan, Americas

☆ Young Americans' wealth grew by nearly 50% over the last 4 years—it's not just from buying homes
▼ + stars: | 2024-04-30 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

The inflation-adjusted average net worth of households headed by someone age 40 or under was around $174,000 at the end of 2019. That number grew by $85,000 to hit $259,000 by the end of 2023, CAP found. But compared with where it was before the pandemic, young Americans' wealth appears to be on the come up, per CAP's analysis. Struggles to buy homes, pay off student debt and save for retirement have plagued many millennials' and other young adults' financial outlooks since they entered adulthood. But now, as the bulk of the millennial generation enters their mid-30s, they seem to be catching up.

Persons: Zers, — Organizations: Center, Federal Reserve, CAP

☆ Amazon’s advertising revenue jumps 24% in first quarter
▼ + stars: | 2024-04-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Amazon reported 24% growth in its advertising unit on Tuesday, the latest sign that the digital ad market is continuing its rebound. Ad revenue climbed to $11.8 billion in the first quarter from $9.5 billion a year earlier. Amazon reported $143.3 billion in total revenue for the period, up 13% from a year ago. Alphabet followed on Thursday, reporting ad revenue for the first quarter of $61.66 billion, up 13% from the year prior, with YouTube ad revenue jumping 21% to $8.09 billion. Snap shares rocketed 28% on Friday after the company reported a 21% increase in revenue to $1.19 billion, the strongest growth in two years.

Organizations: Amazon, Meta, YouTube Locations: New York

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Exxon Mobil, Snap and more
▼ + stars: | 2024-04-26 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Earnings of $1.89 per share beat the $1.51 in earnings per share anticipated by analysts polled by LSEG. Exxon Mobil — The energy stock fell more than 2% after Exxon Mobil posted first-quarter adjusted earnings that missed analysts' forecasts. Revenue of $83.08 billion topped estimates of $78.35 billion. ResMed — Shares soared 17% after fiscal third-quarter results topped analysts' estimates. Snap — Shares soared 28% after the social media company posted adjusted earnings and revenue that defied analysts' expectations, per LSEG.

Persons: FactSet, LSEG, Skechers, Roku, Rowe Price, —, Samantha Subin, Alex Harring, Lisa Kailai Han, Sarah Min Organizations: Microsoft —, Google, LSEG, Exxon Mobil, Intel, Revenue, Charter Communications, Technologies, Management Locations: LSEG .

☆ Stocks making the biggest moves premarket: Alphabet, Microsoft, Intel, Snap and more
▼ + stars: | 2024-04-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Earnings of $1.89 per share topped the $1.51 in earnings per share anticipated by analysts polled by LSEG. Revenue of $80.54 billion topped expectations of $78.59 billion. Revenue of $83.08 billion topped estimates of $78.35 billion. Otherwise, Chevron's earnings of $2.93 per share topped the consensus estimate of $2.87 in earnings per share. Charter Communications — The broadband and cable provider dropped 3.4% after first-quarter earnings came in weaker than anticipated.

Persons: Snap's, Chevron's, LSEG, AutoNation, AbbVie, Skechers, FactSet, — CNBC's Michelle Fox, Alex Harring, Tanaya Macheel, Jesse Pound Organizations: Microsoft, LSEG, Intel —, Intel, Exxon Mobil, Chevron, Colgate, Palmolive, Revenue, Charter Communications, Charter Locations: LSEG .

Snap shares surged 28% on Friday after the company surprised Wall Street by showing a profit and reported sales and user numbers that exceeded analysts' estimates. The company reported adjusted earnings per share of 3 cents, while analysts were expecting a 5-cent loss. Snap said adjusted EBITDA "exceeded our expectations" and was primarily driven by operating expense discipline, as well as accelerating revenue growth. Snap reported more than 9 million Snapchat+ subscribers for the period. For the second quarter, Snap expects to report revenue between $1.23 billion and $1.26 billion, up from the $1.22 billion expected by analysts, according to StreetAccount.

Persons: Derek Andersen, Evan Spiegel Organizations: Barker, Revenue, Snapchat, Meta Locations: Santa Monica , California

☆ Combination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO says
▼ + stars: | 2024-04-25 | 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 EmailCombination of Nvidia's AI hardware and SAP's business data will create great partnership, SAP CEO saysSAP CEO Christian Klein discusses first-quarter results and explains how business AI is driving growth across the company.

Persons: Christian Klein Organizations: SAP

☆ Snap shares soar 25% as company beats on earnings, shows strong revenue growth
▼ + stars: | 2024-04-25 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

Snap reported first-quarter results on Thursday that beat analysts' estimates and showed a return to double-digit revenue growth. Adjusted EBITDA for the first quarter was $46 million, far surpassing the $68 million loss expected by analysts, according to StreetAccount. For its second quarter, Snap expects to report revenue between $1.23 billion and $1.26 billion, up from the $1.22 billion expected by analysts, according to StreetAccount. Snap said adjusted EBITDA will fall between $15 million and $45 million, compared to Wall Street's expectations of $15.5 million. The company expects to report around 431 million DAUs in its second quarter, up from the 430 million expected by StreetAccount.

Persons: Snap's, Snap Organizations: LSEG Revenue, LSEG, LSEG Global, Revenue, Snapchat, Meta, StreetAccount

☆ Millennial wealth is booming. It turns out avocado toast didn't tank them after all.
▼ + stars: | 2024-04-24 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

That rate of rapid wealth growth has never happened before in the data series' history, per the analysis, and it comes after wealth growth remained relatively stagnant for young Americans pre-pandemic. This data, as the authors of the CAP analysis note, suggests that wealth gains weren't just reserved for the top-earning millennials since both median and average wealth grew. "This suggests that the strong wealth growth for younger Americans is broad-based and not the result of strong growth of a handful of wealthy younger households," the authors write. As that report notes, financial assets were a major component of younger Americans' wealth growing. "We need to keep this robust labor market going and Congress needs to set its sights on younger Americans' greatest affordability challenge: housing," Duke said.

Persons: —, Gen X, Brendan Duke, Christian Weller, X, millennials, Duke, BI's Noah Sheidlower Organizations: Service, Center for American Progress, Federal, Business, Boomers, Federal Reserve's Survey, Consumer Finances, millennials, Liberty Street, Federal Reserve Bank of New Locations: millennials, Federal Reserve Bank of New York

☆ Buckle up. These stocks could see big moves in reaction to earnings this week
▼ + stars: | 2024-04-22 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

As the busiest week for first quarter earnings results kicks off, several stocks on the docket to report this week may be poised for big swings. As of last Friday, 74% of companies in the S & P 500 reported a positive earnings surprise while 58% beat revenue expectations, according to FactSet. This week is scheduled to be the busiest one of the season, with 29% of companies in the S & P 500 — or 146 companies — due to post results. With so many corporate results to be released this week, investors may want to pay special attention to some earnings more than others in advance. CNBC Pro screened for the stocks that could see significant post-earnings moves either up or down, based on investors' expectations in the options market.

Persons: AllianceBernstein, Mark Shmulik, Shmulik, Jamie Baker, Morgan Stanley, Benjamin Swinburne Organizations: Dow Jones, CNBC Pro, JetBlue, American Airlines, JPMorgan, Spotify Locations: Stockholm

☆ Taylor Swift, Tupac, and Snoop Dogg are now somehow part of the weekslong rap beef between Drake and Kendrick Lamar
▼ + stars: | 2024-04-21 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +4 min

Read previewIf you thought rap's latest all-out brawl couldn't get any more convoluted, enter Taylor Swift, Snoop Dogg, and Tupac Shakur. On Friday, an embattled Drake released "Taylor Made," his second diss track in response to Kendrick Lamar, which mentions the "Fortnight" singer and uses what sounds like an AI-generated Shakur and Snoop Dogg to try to humble Lamar. AdvertisementThe fake Tupac gives Lamar advice on how to properly diss Drake by referencing rumors about the Canadian rapper "liking young girls." The actual human Snoop Dogg humorously responded to the verse in an Instagram video Friday evening. Representatives for Swift, Snoop Dogg, Drake, and Lamar, and a lawyer for Shakur's estate did not immediately respond to a request for comment from Business Insider.

Persons: —, Taylor Swift, Snoop Dogg, Tupac Shakur, Drake, Taylor, Kendrick Lamar, Lamar, J, Cole, Prince, Mike Jack, Michael Jackson, Jackson, Pop, Rick Ross, Ye, Lamar —, Tupac, Shakur, Snoop, Lamar hasn't, Swift Organizations: Service, Business, Metro Boomin, Listeners, Poet's Department, Genius, Dawg Entertainment, Apple Music Locations: Lamar

☆ Snap's move on TikTok news is 'a bit premature', says Roth MKM's Rohit Kulkarni
▼ + stars: | 2024-04-17 | 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 EmailSnap's move on TikTok news is 'a bit premature', says Roth MKM's Rohit KulkarniRohit Kulkarni, Roth MKM senior research analyst, and Paul Gallant, TD Cowen TMT policy analyst, join 'Closing Bell Overtime' to talk the TikTok bill in congress and its impact on other social media companies.

Persons: Roth, Rohit Kulkarni Rohit Kulkarni, Paul Gallant, TD Cowen

☆ Taylor Swift, Rihanna, Blackpink's Lisa: Celebrities spotted at Coachella 2024
▼ + stars: | 2024-04-15 | by ( Amanda Goh | Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +9 min

The annual Coachella music festival, held in Indio, California, is underway. Here are the celebrities who have attended the music festival so far. The likes of Jeff Bezos and Lauren Sanchez, Taylor Swift, and even Blackpink's Lisa have been spotted among the audience. Here are the celebrities who have been seen enjoying Coachella 2024 so far. Taylor Swift and Travis KelceTaylor Swift and Travis Kelce at Neon Carnival held during the Coachella Music and Arts Festival on April 13, 2024 in Thermal, California.

Persons: Taylor Swift, Rihanna, Lisa, —, Lana Del Rey, Tyler, Jeff Bezos, Lauren Sanchez, Travis Kelce Taylor Swift, Travis Kelce, Gilbert Flores, Swift, Jason, Lauren Sánchez, Kris Jenner's, Corey Gamble, Lana Del Rey's, Rocky, Shakira, Blackpink's Lisa LISA, BLACKPINK, Bizarrap's, Blackpink's Lisa, Blackpink, Barry Keoghan Barry Keoghan, Tommaso Boddi, Sabrina Carpenter's, Keoghan, Carpenter, Justin Bieber, Jaden Smith Bieber, Smith, Hailey Bieber Hailey Bieber, Campbell Puckett, 🌵🎡, Rob e, mee, fou, ann u, e, Lew, tim e Organizations: Service, Billboard, Los Angeles Times, Coachella Music, Arts Festival, Getty, NFL, Coachella, AP, Valley Music, Arts, spo Locations: Indio , California, Thermal , California, Coachella, Singapore, fes, Fes

☆ All the surprise guest appearances at Coachella 2024, from Shakira to Paris Hilton
▼ + stars: | 2024-04-15 | by ( Eammon Jacobs | ) www.businessinsider.com time to read: +5 min

Voices of a generationWatch more from the Coachella Stage all weekend on the @Youtube livestream at https://t.co/369m1pWQBo pic.twitter.com/CHCyTBKcuX — Coachella (@coachella) April 13, 2024Will Smith performed 'Men in Black' during J. Balvin's set, wearing a very appropriate suit. Olivia Rodrigo performed with No Doubt. Gwen Stefani of No Doubt and Olivia Rodrigo perform at the Coachella Stage during the 2024 Coachella Valley Music and Arts Festival at Empire Polo Club on April 13, 2024 in Indio, California. AdvertisementKesha also joined Rapp during her setReneé Rapp and Kesha perform onstage together. Peso Pluma Brings Out Becky G to Perform "Chanel" at Coachella 🖤 • @iambeckyg pic.twitter.com/niypTDldVK — ERIKA ❤️‍🔥 (@beckygchanel_) April 14, 2024Paris Hilton played games with Vampire WeekendParis Hilton at Neon Carnival during Coachella.

Persons: —, Lana Del Rey, Sabrina Carpenter, Barry Keoghan, Megan Fox, Taylor Swift, Travis Kelce, Jeff Bezos, Del Rey, Lauren Sánchez, Billie Eilish, Shakira, Lana Del Rey's, Christina House, 369m1pWQBo, Will Smith, Balvin's, Arturo Holmes, Olivia Rodrigo, Gwen Stefani, John Shearer, Rodrigo, Bizarrap, Valerie Macon, Childish Gambino, Charlie Wilson, Tyler, Gambino, Donald Glover, Igor, Reneé Rapp, Leisha Hailey, Jennifer Beals, Katherine Moennig, Ilene Chaiken, Rapp, Kesha, Emma McIntyre, ToK, l1TbBn9Mnq — Courtney Howard, Becky G, Chanel, Becky, RIKA ❤ ️‍🔥 ( Organizations: Service, Colorado, Business, Machine, Guardian, Los Angeles Times, Del, Coachella, Valley Music, Arts Festival, Empire Polo Club, Vogue, Bizarrap, WHO Locations: Coachella, Black, Indio , California, AFP, LA

☆ How much Snap pays employees in the US
▼ + stars: | 2024-04-15 | by ( Ashley Rodriguez | Shriya Bhattacharya | ) www.businessinsider.com time to read: +2 min

Snapchat's owner Snap is hiring in the US and pays five or six figures for many jobs. Business Insider analyzed public data to get a sense of how much Snap pays its employees in the US. Snap has offered salaries from about $45,000 to over $1.95 million for various roles. Related storyWith dozens of openings in the US, Business Insider updated its analysis of how much Snap pays employees in the country for certain jobs. According to the data, Snap offered certain US staffers between October 2021 and December 2023 annual salaries ranging from $45,282 to $1.95 million for various roles.

Persons: — Organizations: Business, Service, US Department of Labor's, Foreign Labor

☆ Snap offers as much as $500,000 in base salary to top Snapchat talent. Here's pay data on US jobs in engineering, sales, and more.
▼ + stars: | 2024-04-13 | by ( Ashley Rodriguez | Shriya Bhattacharya | ) www.businessinsider.com time to read: +27 min

Despite laying off full-time staff earlier this year, Snap has open roles in areas including engineering, sales, and marketing. On April 12, Snap had globally listed 142 open positions on its jobs board, including 88 openings in US cities. Related storiesMany of Snap's applications included annual salary ranges rather than a single salary for a given role. For example, Snap included a pay rate of $97,760 and $140,000 a year for one software engineer position. In cases where Snap submitted multiple applications for a particular job, such as a level III software engineer, we included the lowest and highest salary for the role as well as the median range.

Persons: Dan Whateley Organizations: Stars, Advertising Research Center, Business, US, of Foreign Labor, Department of Labor, Inc, Santa, Research, Data, Analytics, CRM Technology, Finance Technology, IT Corp Services, Learning, Partner, Engineering, Security Engineering, Software, Software Engineering, Oracle Systems, Assurance, iOS, Wireless Network, Global, Lens, Advisory Partners, Corporate, Corporate Finance, Strategic Locations: Santa Monica, Seattle, View, Palo Alto , New York, San Francisco

☆ Megan Thee Stallion's diet, fitness and mental wellness routine: 'I want to look as good as I feel'
▼ + stars: | 2024-04-12 | by ( Renée Onque | ) www.cnbc.com time to read: +1 min

It would be an understatement to say Megan Thee Stallion, one of rap's hottest stars, has experienced a lot these last few years. In 2020, Megan Thee Stallion, was shot by rapper Tory Lanez and was doubted and ridiculed, with many blaming her for what happened or downright denying that it happened altogether. There was a highly publicized trial and Tory Lanez was found guilty in 2022. "I watched people build me up, tear me down, and be confused about their expectations of me," Megan, whose given name is Megan Pete, said in a recent talk with Women's Health. "Working on myself made me get into working out because I needed to focus my energy somewhere else," she told Women's Health.

Persons: Megan Thee, Tory Lanez, Megan, Megan Pete, Women's Organizations: Women's, Nike

☆ J. Cole let hip-hop down
▼ + stars: | 2024-04-09 | by ( Sowmya Krishnamurthy | ) www.businessinsider.com time to read: +7 min

J. Cole regretted releasing "7 Minute Drill," dissing Kendrick Lamar. AdvertisementIn 2013, J. Cole released a tribute to his favorite rapper, "Let Nas Down." The hip-hop class Cole skipped: Fight nightJ. Cole. Cole, Kendrick, and Drake grew up bopping their heads to these battles and ostensibly studying and admiring them. Kendrick superiorityKendrick Lamar and J. Cole perform at Madison Square Garden on January 28, 2014 in New York City.

Persons: Cole, dissing Kendrick Lamar, —, J, Nas, Kendrick Lamar, Drake, Cole harangued Kendrick, Jay, Getty, Tim Mosenfelder, Kool Herc, Jeff Chang's, Biggie, Tupac, King, Jeezy, Gucci Mane, Kendrick, Taylor Hill, it's, rap's, Peter Rosenberg, Darden Organizations: Service, Festival, Morale, Garden, Metro Boomin, Kanye Locations: New York, North Carolina, New York City, East Coast, West, Madison, Taylor

A major U.S. bank and a legacy tech name were the focus of some of Tuesday's biggest analyst calls. The firm upgraded the apparel stock to overweight from neutral, and raised its price target to $31 per share from $26. The firm resumed coverage of the legacy tech company with an overweight rating and a $58 per share price target. He reiterated his $64 price target on the stock, implying upside of 10.7%. Additionally, he sees "greater risk to the achievement of our price target as the Fed rate cutting cycle begin."

Persons: Morgan Stanley, Matthew Boss, — Brian Evans, Goldman Sachs, Molson Coors Goldman Sachs, Molson, Molson Coors, Bonnie Herzog, Bud Light, Brian Evans, Goldman, Mark Delaney, Cisco, Morgan Stanley's, David Rochester, Fred Imbert Organizations: CNBC, Cisco Systems, JPMorgan, Eagle Outfitters JPMorgan, American Eagle Outfitters, Eagle Outfitters, Molson Coors, Molson, TAP, Tesla, Cisco, Wells Locations: U.S, Wells, Americas, EVs, Wells Fargo, 2H24, Rochester

☆ China's Nio to expand battery swap services to gain an edge on EV infrastructure
▼ + stars: | 2024-04-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Pictured here is a Nio battery swapping station in Haikou, Hainan province, China, on May 9, 2023. Bloomberg | Bloomberg | Getty ImagesBEIJING — Chinese electric car company Nio has been expanding its battery swap partnerships in a bid to gain an edge on the infrastructure side of the EV ecosystem. Nio also announced agreements earlier this year to work with two local battery companies on battery swap services. While having a large network of battery charging stations helps address those concerns, battery swapping is a faster method as it takes only a few minutes. CLSA's Luo said businesses also prefer to invest in normal charging stations than swap stations because they make a higher return.

Persons: Nio, —, JAC —, Ding Luo, Shen Fei, Shen, it's, Le, William Li, Shay Natarajan, Luo, Ford Organizations: Bloomberg, Getty, Chery, CNBC, Battery, Nissan, Sino Auto, Mobility Impact Partners, General Motors Locations: Haikou, Hainan province, China, BEIJING, U.S, San Francisco, Kyoto, Japan, Madrid, Spain, Europe, North America

☆ Cramer's Lightning Round: Palo Alto Networks is a buy
▼ + stars: | 2024-04-04 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon GitLab's year-to-date stock performance. Stock Chart Icon Stock chart icon Snap's year-to-date stock performance. Stock Chart Icon Stock chart icon Blackstone's year-to-date stock performance. Stock Chart Icon Stock chart icon Rocket Companies' year-to-date stock performance. Stock Chart Icon Stock chart icon Palo Alto Networks' year-to-date stock performance.

Persons: Snapchat, Blackstone, I'm, Jim Cramer's Organizations: Companies, Rocket, Palo Alto Networks

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