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CNBC Daily Open: Nvidia shares top $1,000 on AI boom
  + stars: | 2024-05-23 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nvidia to split stock, sales to soarShares of Nvidia rose more than 7%, topping $1,000 for the first time, in after-hours trading after its first-quarter earnings and sales beat analysts' expectations. The company plans to split its stock 10 for 1. The media outlet went public in 2021 and has seen its shares fall 94% since then.
Persons: OpenAI, Vivek, Vivek Ramaswamy, Ramaswamy, Goldman Sachs Organizations: CNBC, Nvidia, Dow Jones, Nasdaq, Dow, Google, GOP, Securities and Exchange Commission
JPMorgan Chase 's chairman and CEO Jamie Dimon says the the U.S. economy could see a "hard landing." When asked by CNBC's Sri Jegarajah about the prospect of a hard landing, Dimon replied: "Could we actually see one? The CEO was speaking at the JPMorgan Global China Summit in Shanghai. Dimon said the worst outcome for the U.S. economy will be a "stagflation" scenario, where inflation continues to rise, but growth slows amid high unemployment. "I look at the range of outcomes and again, the worst outcome for all of us is what you call stagflation, higher rates, recession.
Persons: JPMorgan Chase, Jamie Dimon, CNBC's, Jegarajah, Dimon, we'll Organizations: JPMorgan, JPMorgan Global China Summit Locations: U.S, Shanghai
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe've probably seen the worst of bond market volatility, Pimco saysChristian Stracke, president and global head of credit research at Pimco, says the 10-year Treasury will likely be "in a range."
Persons: Pimco, Christian Stracke Organizations: Treasury
Read previewEuropean countries are preparing to reveal plans for a $4.3 billion Iron Dome-style air and missile defense system, Poland's prime minister announced on Monday. The European Sky Shield Initiative, or ESSI, is conceived as a means to jointly procure ground-based interoperable air defense systems. There is no reason for Europe not to have its missile defense shield," Tusk said, per The Telegraph. Related storiesIsrael's Iron Dome has long been seen as one of the world's most advanced air defense systems, protecting the country's skies from rockets and other projectiles. AdvertisementWhile a direct hot-war attack by Russia on NATO Europe is not considered an immediate likelihood, many countries — particularly those that border Russia — are deeply alarmed.
Persons: , . Donald Tusk, Tusk, ESSI, Olaf Scholz, It's, Andrzej Duda Organizations: Service, AVN, European Council, Kyiv Post, Business, Sky Shield Initiative, Telegraph, NATO, Patriots, IRIS Locations: Kyiv, Israel, Europe, Russia, Iran, NATO Europe, Ukraine, Germany, Austria, Switzerland, Turkey, Greece, German, ESSI
Read previewCutting down on ultra-processed foods and eating more fiber is good for gut health. Done wrong, an infusion of fiber can lead to bloating, gas, abdominal pain, cramping, and changes in bowel habits like constipation or diarrhea. Anytime we change our diet, our gut microbes are forced to adapt, he said. Stay hydratedBeing well-hydrated improves our ability to process and digest fiber, Bulsiewicz said. Drinking water when you eat fiber also helps prevent gas and bloating, according to UMass Chan Medical School.
Persons: , It's, Dr, Will Bulsiewicz, shouldn't, Bulsiewicz, Zoe Organizations: Service, Business, Mayo Clinic, UMass Chan Medical
She’s a business mogul in every sense: Aside from a prolific music career, she’s launched successful brands including her cosmetics empire Fenty Beauty – worth an estimated $2.8 billion according to Forbes – and her lingerie label Savage X Fenty. Her latest move in China to promote makeup products is something of a masterclass in how to tap into its lucrative – mostly online – Gen Z market. On Tuesday night, the chart-topping singer attended a Fenty Beauty pop-up held at a Shanghai photography museum, “servin’ face” according to brand’s Instagram, and “jianbing” – a popular Chinese breakfast crepe that costs about a dollar. In a screengrab from Instagram, Rihanna makes jianbing in Shanghai, China, during a visit to promote Fenty Beauty. While Fenty Beauty products have been available in the country since 2019, the brand announced this March that it would be expanding its presence via Sephora stores on the mainland.
Persons: CNN —, Rihanna, She’s, she’s, Forbes –, brand’s Instagram, , China’s TikTok, , Guo Pei, jianbing, RihannashowsupinShanghai, Gucci, Dior, Louis Vuitton Organizations: CNN, Vogue China, Academy of China Council, Promotion of International Trade Locations: China, Shanghai, Instagram, Weibo, Shandong, , China’s Shandong province, Jianbing, Douyin
Russia’s relentless onslaught has a key goal: If they take Lyptsi, then they can position artillery within range of Ukraine’s second city, Kharkiv, 20 minutes down the road. “They’re not sending just anyone into the assaults.”His stare lengthens when asked about what fortifications were in place before the surprise Russian attack. At one position closer to the Russian border, the 92nd Assault Brigade showed CNN a Russian artillery gun, captured in the first days of the war, from which they are now firing French mortar shells. The gun was partially hidden by a wire net, aimed at providing some protection from an attack drone. Attacks persisted in the distance however, keeping the city’s residents awake through violently loud nights, now amplified by the threat of Russian artillery edging closer.
Persons: , “ They’re, Artun, Mick Krever, tugging, ” Artun, , CNN’s Nick Paton Walsh, Oleksandr, Brice Lainé Organizations: CNN, National Guard, 92nd Assault Brigade Locations: Ukraine, Kharkiv, Russian, Soviet, Lyptsi, Russia, Cherkaska Lozova
Check out the companies making headlines after the bell : Nvidia — The chipmaker added about 4% after announcing a 10-for-1 stock split . Nvidia also surpassed Wall Street's fiscal first-quarter estimates on the top and bottom lines, and it issued strong guidance for the current quarter. Fiscal first-quarter revenue surpassed the Street's expectations, coming in at $829 million, versus consensus estimates for $786 million, per LSEG. — The apparel and footwear company sank 9% after posting an unexpected loss for the recent quarter and revenue that fell short of Wall Street's estimates. VF Corp. posted a loss of 32 cents per share on $2.37 billion in revenue.
Persons: LSEG, FactSet, Synopsys, LiveRamp, Dow Jones, Goldman Sachs, Morgan Stanley, Ed Breen, Lori Koch, Breen, , Darla Mercado, Sarah Min, Scott Schnipper, Christina Cheddar, Berk Organizations: Nvidia, Super Micro, Devices, Corp, VF Corp, LiveRamp Holdings, News Corp, JPMorgan, DuPont de Nemours, DuPont
Hong Kong CNN —Apple is offering unprecedented price cuts in China as big brands and retailers launch promotions for the annual “618” shopping festival in the face of sluggish consumer demand. The JD.com Inc. headquarters during a ceremony marking company's 20th anniversary and 618 shopping event in Beijing, China, on Sunday, June 18, 2023. The 618 shopping festival, a key barometer of consumption in the country, has seen growing competition by e-commerce sites and retailing brands to offer discounts. One statement, issued by 10 publishing houses in Beijing, said the boycott was a necessary move to “maintain the stability and prosperity” of the book publishing market. Even major state-owned publishing companies voiced opposition to “chaotic” price wars.
Persons: Apple, Alibaba —, Alibaba, Rihanna, iPads, , Jefferies Organizations: Hong Kong CNN, Apple, Huawei, Vivo, JD.com, Inc, Bloomberg, Getty, Counterpoint Research, Xiaomi, Shanghai Century Publishing Locations: Hong Kong, China, Shanghai, Beijing
The Equinox EV is launching with higher-priced models that start at roughly $43,000 to $51,100 (without any incentives). The Equinox EV is arriving to market following the Blazer EV and alongside GM's more than $96,000 Silverado EV RST. Equinox EVAll of that being said, the Equinox EV is an Equinox in name only. Outside of the U.S., the Equinox EV will be sold in Canada, Mexico, the Middle East and some South American markets such as Brazil. GM's 2024 Chevrolet Equinox EV (right) next to a gas-powered Chevy Equinox on May 16, 2024 in Detroit.
Persons: Michael Wayland, Mark Reuss, Tesla, Kathleen Murawski, Chevy Bolt, It's, We've, Rory Harvey, we've, Marissa West, West, Paul Waatti, Waatti Organizations: CNBC DETROIT, General Motors, GM, CNBC, Chevy, GMC Hummer EV, Blazer, Global, Silverado EV RST, Silverado, GM North America, Chevrolet, Motors, EV Locations: Detroit, China, U.S, Canada, Mexico, Brazil
A long-running debate about a small part of Britain’s Holocaust history has been settled. A panel of historians tasked with investigating the death toll in Alderney, a British Crown Dependency and one of the Channel Islands in the English Channel, has adjusted the island’s historical record, adding several hundred people to an official count from the 1940s. On Wednesday, he presented the findings with members of the panel in a packed room at the Imperial War Museum in London. It concluded that the likely range of deaths was between 641 and 1,027, with a maximum number of 1,134 people. Most of them were forced laborers from the Soviet Union.
Persons: Eric Pickles, Britain’s, Organizations: British, Channel, Imperial War Museum Locations: Alderney, London, Soviet Union, France
At a high point for Ukraine in its war against Russia, when its army was sweeping Russian forces from the country’s northeast, a small-town police chief proudly hung a Ukrainian flag on his newly liberated city hall. A year and a half later, the policeman, Oleksiy Kharkivskyi, was dashing into the burning ruins of the same town, Vovchansk, last week to evacuate its few remaining residents as Russian forces closed in. “Everywhere they come is just razed to the ground,” Mr. Kharkivskyi said of the advance of the Russian troops, who have returned to the region with a scorched-earth ferocity, setting in motion one of the largest displacements of people since the first months of the war. Russian troops punched across the border between Russia and Ukraine this month and pushed toward Ukraine’s second-largest city, Kharkiv, which has a population of about a million people. Military analysts say Russia lacks the troops to capture the city but could advance to within artillery range, touching off a larger flow of refugees.
Persons: Oleksiy Kharkivskyi, Mr, Kharkivskyi Organizations: Ukrainian, Military Locations: Ukraine, Russia, Vovchansk, Kharkiv
The BackgroundFluoride strengthens tooth enamel, and research suggests that drinking water with added fluoride can reduce cavities by up to 25 percent. Most of the women lived in areas with fluoridated water. The researchers measured the fluoride levels in their urine in a single test during the third trimester. And on average, higher fluoride levels in the mothers’ urine were correlated with a greater risk of behavioral problems in the children. That said, the increases in behavioral scores were relatively small — about two points on a scale from 28 to 100 for overall behavioral problems.
Persons: , Beate Ritz, Patricia Braun, Ashley Malin, Malin, Joseph Braun Organizations: National Institutes of Health, Environmental Protection Agency, JAMA, Fielding School of Public Health, University of Colorado School of Medicine, American Academy of Pediatrics, College of Public Health, Health, University of Florida, Water Watch, Center, Environmental, Brown University Locations: United States, Mexico, Canada, Spain, Denmark, Los Angeles
London CNN —British lawmaker Craig Mackinlay has received a standing ovation in Parliament as he returned to the House of Commons after undergoing a quadruple amputation following a sepsis infection. The life-threatening condition requires urgent medical care to prevent organ damage and death. Mackinlay’s wife, Kati Mackinlay, told GB News that doctors told her he had only a 5% chance of survival, but she remained hopeful. “I always knew that Craig would pull through and he did.”The operation, in which his arms were amputated from the elbow and his legs from the knee, took around 4-5 hours, Mackinlay told GB News. “Get back into the saddle, get back into Parliament, get back doing the things I enjoy,” he told GB News.
Persons: Craig Mackinlay, Victoria Jones, , Mackinlay, Jessica Taylor, it’s, he’s, Kati Mackinlay, , Craig Organizations: London CNN, Conservative, BBC, US Centers for Disease Control, Reuters Locations: South Thanet, England
Would you feel more prepared for job interviews if you knew which questions were going to be asked? John Lewis, a 160-year-old retail giant based in the U.K. with 80,000 employees, has revealed interview questions for job candidates on its website in advance to make the hiring process more equitable. Bullett explained that it will give candidates the opportunity to prepare and "confidently demonstrate what they can do." People are divided on whether this development is beneficial because there isn't a standardized process for interviews, Khyati Sundaram, CEO of recruitment platform Applied, told CNBC Make It. But she warned that revealing job interview questions in advance isn't a "silver bullet" and there are some caveats.
Persons: John Lewis, you've, Lorna Bullett, Bullett, Khyati Sundaram, Sundaram Organizations: John, CNBC
Read previewSaudi Arabia has grand plans for its Neom megaproject. The city is part of Saudi Crown Prince Mohammed bin Salman's Vision 2030 project , which plans to revolutionize the country's oil-dependent economy for a post-fossil fuel future. Swim lanes for commutersThe megacity is also considering including swim lanes for commuters, according to a Neom "style catalog" seen by Bloomberg. Neom planners are reportedly considering including canals with swimmable water, which would allow residents to swim to work or school. A robot and AI networkNeom has grand plans to be the most high-tech city in the world.
Persons: , It's, Prince Mohammed bin Salman's, Jan Paterson, Neom's, Neom, Nadhmi Al, Nasr, Wayne Borg, Paul Marshall Organizations: Service, Business, Planners, Bloomberg, Wired, BBC Locations: Saudi Arabia, Saudi, Neom, Aqaba, Treyam, Neom's
The US Air Force just released more photos of the B-21 Raider, its newest stealth bomber. The long-range aircraft is working through flight testing in California. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US Air Force on Wednesday published more photos of its newest stealth bomber, the B-21 Raider, as the penetrating strike aircraft continues to work through flight testing. The photos, captured in January and April, show the sleek-looking new bomber in the middle of its testing — consisting of ground testing, taxiing, and flight operations — at California's Edwards Air Force Base.
Persons: Organizations: US Air Force, Pentagon, Service, Edwards Air Force Base, Business Locations: California
A youth walks past the entrance of the Reserve Bank of India head office in Mumbai on Nov. 17, 2021. The board of India's central bank approved a record surplus transfer of 2.11 trillion rupees ($25.35 billion) to the government for the fiscal year ended March, sharply above analysts' and government projections. The government had budgeted a dividend of 1.02 trillion rupees from the Reserve Bank of India, state-run banks and other financial institutions, interim budget estimates for the fiscal year 2024/25 show. The RBI board also decided to raise the contingency risk buffer (CRB) to 6.5% from 6% previously. Analysts had expected a surplus transfer in the range of 750 billion rupees to 1.2 trillion rupees, aided by strong foreign exchange earnings.
Persons: Garima Kapoor Organizations: Reserve Bank of India, Elara Locations: Mumbai, India's
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence to move forward on interest rate reductions. Minutes from the April 30-May 1 policy meeting of the Federal Open Market Committee released Wednesday indicated apprehension from policymakers about when it would be time to ease. The meeting followed a slew of readings that showed inflation was more stubborn than officials had expected to start 2024. The Fed targets a 2% inflation rate, and all of the indicators showed price increases running well ahead of that mark.
Persons: Jerome Powell, Christopher Waller, FOMC, Stocks Organizations: Federal, Committee, Federal Reserve, Market, Fed, University of Michigan, New York Fed Locations: Washington , U.S
The ex-husband of a former BP mergers and acquisitions manager was sentenced to two years in federal prison for insider trading that netted him $1.76 million after he eavesdropped on her work calls about the oil giant buying another company. The ex-husband, Tyler Loudon, also was sentenced to one year of supervised release after his prison term and fined $10,000 by U.S. District Court Judge Sim Lake in Houston on Monday. The prison sentence was at the bottom end of the 24-to-30-month range requested by federal prosecutors. His purchases started after he secretly listened to his wife's work calls about BP buying TravelCenters and later discussed the deal with her in "normal" married-couple kinds of conversations, according to court records. Loudon's wife, who was not accused of wrongdoing, reported his actions to her BP supervisor, but she ended up getting fired later, court records show.
Persons: eavesdropped, Tyler Loudon, Sim Lake, Loudon's, Peter Zeidenberg, Lake, Loudon, Mr, Tyler, Zeidenberg Organizations: U.S, BP, Industry, Authority, CNBC Locations: Houston, Loudon, TravelCenters, America
CNN —There is no love lost between hip-hop moguls 50 Cent and Sean “Diddy” Combs. CNN has reached out to representatives for 50 Cent and Netflix for comment. Members of law enforcement are seen outside of Sean "Diddy" Combs' home in Los Angeles on March 25, 2024. Earlier this month, he released a song titled “Pick a Side” in support of his father and taking aim at critics like 50 Cent. Gareth Cattermole/Getty Images“All that gossip sh*t is whack when all they had was 50 Cent / Who put this city on the map?
Persons: Sean “ Diddy ” Combs, Combs, Cassie Ventura, Christopher Wallace, Wallace, , Tupac Shakur, Ventura, Sean, Diddy, ” Diddy, ” Combs, he’s, that’s, Christian Combs, King Combs, Justin, Aaron Dyer, ” King Combs, King, Gareth Cattermole, , “ I’m Organizations: CNN, Netflix, Department of Homeland Security Investigations, Hamptons, KCBS, Billboard Locations: Los Angeles, New York, Miami
Read previewWhether you're having people over or bringing a meal to a potluck, grilled chicken is always a crowd-pleaser. Buy high-quality chicken from a trusted sourceIt's important to read the labels on your chicken. Joe Gough/ShutterstockFirst and foremost, buy a good chicken from a trusted source. AdvertisementDon't underestimate the power of marinades, cures, and brinesA good marinade or brine can add even more flavor to a chicken. Getty ImagesA good BBQ sauce can bring finger-licking qualities to your chicken, but don't add it too soon.
Persons: , I've, Joe Gough, Shutterstock, isn't, wiggle Organizations: Service, Business
Urban Outfitters — The clothing retailer slid 4.6% despite posting a fiscal first-quarter beat, after trading higher before Tuesday's opening bell. Urban Outfitters reported adjusted earnings of 69 cents per share, higher than the 52 cents per share analysts polled by LSEG had expected. First Solar — Shares surged more than 18% in midday trading. Other alt energy stocks also surged, in part owing to enthusiasm that AI will lift power demand. Bloom Energy surged 18%; Sunnova Energy added 14%; and Enphase Energy , Fluence Energy and Sunrun were all up 10%.
Persons: Goldman Sachs, LSEG, , Alex Harring, Lisa Kailai Han, Jeff Greenberg Organizations: Goldman, Urban Outfitters, Garmin, Bank of America, , Toll, Citi, Tesla, Elon, Bloomberg, UBS, Bloom Energy, Sunnova Energy, Enphase Energy, Fluence Energy, Sonoma, Universal, Getty Locations: Massachusetts, Europe, FactSet, Miami Beach , Florida
Target on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. On a call with reporters, CEO Brian Cornell said the company's results reflect "continued soft trends in discretionary categories." Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers. Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items. Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5.
Persons: Brian Cornell, John David Rainey Organizations: Target, LSEG, Walmart, Aldi Locations: Miami , Florida, Minneapolis
Nvidia's Hopper chips include the H100, which was announced in 2022 and faced severe supply shortages last year as the AI gold rush intensified. Tuesday's AWS news represents a pushout in demand for Nvidia chips, not a loss of it. That would be the so-called "digestion" phase for AI chips that Wall Street has been speculating about since last year. If anything, AWS deciding to wait for the more-powerful Blackwell chips could mean the digestion phase is further out on the horizon than initially thought. Unlike last year, when Nvidia's chips were in such short supply, there are now rival chips out there, such as AMD's MI300X, which is angling for a corner of the inferencing market .
Persons: you've, it's, Jim Cramer, Hopper, Blackwell, Nvidia's Hopper, There's, Grace Hopper Superchip, Kimberly Powell, Powell, Jim Cramer's, Jim, Jensen Huang, Justin Sullivan Organizations: Nvidia, Blackwell, Amazon Web Services, CNBC, NVIDIA, AWS, Club, SAP Center Locations: Hopper, Ceiba, San Jose , California
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