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Blackstone is set to grant shares to workers at the businesses it buys, The Wall Street Journal reported. It's set to award stock to employees at Copeland, which it bought last year for $14 billion. Other private equity giants including KKR and Apollo also offer equity to portfolio companies' staff. AdvertisementBlackstone is set to start granting stock to its portfolio companies' employees, The Wall Street Journal reported. The private equity giant's plans to give equity to workers at most of the large US-based businesses it buys are expected to be announced at a conference this week.
Persons: Blackstone, It's, Organizations: Street Journal, KKR, Apollo, Service, Emerson Electric, Business Locations: Copeland
Read previewGoogle might be one of the biggest players in the AI space, but an employee says the tech giant's work in the field has been motivated by "stone cold panic." But Google, Jenson said, wasn't the only tech giant guilty of making this mistake. AdvertisementJenson's scathing assessment comes as tech giants like Google and Apple have been struggling to play catch-up with AI upstarts like OpenAI. AdvertisementWhen Google unveiled its new AI model Gemini 1.5 on February 15, OpenAI dropped its text-to-video model Sora just a few hours later. Last week, OpenAI debuted its new flagship AI model, GPT-4o, a day before Google announced various updates for their models.
Persons: , Scott Jenson, Jenson, Tony Stark, who'd, Apple didn't, Siri, OpenAI, Sam Altman Organizations: Service, Google, Business, LinkedIn, Stanford, Android, Facebook, Apple, BI, New York Times, OpenAI, iOS, Bloomberg Locations: Siri, Cupertino
U.S. stock futures were little changed on Tuesday night as investors looked ahead to the widely-anticipated release of Nvidia 's latest earnings report. Dow Jones Industrial Average futures hovered near the flatline, as did futures tied to the S&P 500 and Nasdaq 100 . The moves followed the S&P 500 and Nasdaq Composite 's new record-setting closes on Tuesday afternoon. The stock has rallied nearly 93% so far in 2024 and added 0.6% during Tuesday's trading session. Traders will also watch out for minutes from the latest Federal Open Market Committee meeting, alongside April's existing home sales.
Persons: Charles Schwab's, Liz Ann Sonders, Raymond James Financial Organizations: Nvidia, Dow Jones Industrial, Nasdaq, Urban Outfitters, Dow Jones, Devices, Wednesday, Traders
An exterior view of a Wendy's fast-food restaurant in Bloomsburg, Pennsylvania, on May 19, 2024. Wendy's will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. Last week, CNBC reported the fast-food giant's $5 meal deal would be available in stores for only a month, starting June 25. Wendy's earlier this month reported first-quarter revenue grew a modest 1.1% to $534.8 million. Although higher prices have helped the chain's revenue, they have scared away some low-income customers.
Persons: Wendy's, McDonald's, Ian Borden Organizations: CNBC, Consumers, KFC, Taco Bell, Yum Brands Locations: Bloomsburg , Pennsylvania
"I think the iPhone next generation has to incorporate far more AI than it does now," Jim said on Monday. The Club's belief is that doing so will prompt iPhone users to upgrade to the newer model, helping reignite topline growth for Apple following a prolonged period of sluggishness. The majority of Apple's installed base of more than 2.2 billion devices is iPhones, Melius said in its note Monday. AAPL YTD mountain Apple (AAPL) year-to-date performance AI can boost more than just iPhone sales, according to Melius. In the three months ended March 30, the iPhone 15 and iPhone 15 Pro Max held the No.
Persons: Jim Cramer, Jim, Melius, Max, Jim Cramer's Organizations: Melius Research, Apple, Conference, Cupertino, Reuters, Huawei, CNBC, Citizens, Nurphoto, Getty Locations: China, Melius, India, Shanghai
Apple's new Pencil Pro shows the tech giant really thought of everything in its latest launch. The Pencil Pro launched May 7 alongside the new M4 iPad. AdvertisementThe new Apple Pencil Pro comes with a subtle yet surprising new feature. The pencil stylus was launched on May 7 at the "Let Loose" event alongside the new M4 iPad Pro and iPad Air. Apple showed off the capabilities of the new Pencil Pro, but a recent TikTok revealed another feature that highlights the tech giant's attention to detail.
Persons: , Oliur, Apple didn't Organizations: Pro, Service, iPad, Apple, Business
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
The U.K.'s Competition and Markets Authority cleared Microsoft's AI partnership with Mistral of regulatory concerns after previously inviting views on whether the arrangement qualified as a merger. Now, the regulator says it's no longer looking into Microsoft's investment in Mistral. It has given no update on its inquiries into the Amazon-Inflection deal and into Microsoft's hiring of employees from Inflection. Microsoft previously denied its deals with OpenAI and Mistral and hiring of employees from Inflection constituted mergers. Amazon has also said that its partnership with Anthropic represents a limited corporate investment, not a merger.
Persons: OpenAI Organizations: Markets, Mistral, CMA, Enterprise, CNBC, Microsoft, U.S, Anthropic Locations: French, U.S, Mistral
Mark Zuckerberg, CEO of Meta testifies before the Senate Judiciary Committee at the Dirksen Senate Office Building on January 31, 2024 in Washington, DC. Facebook parent company Meta on Thursday was hit with a major investigation from the European Union into alleged breaches of the bloc's strict online content law over child safety risks. The Commission added that it is concerned about age verifications on Meta's platforms, as well as privacy risks linked to the company's recommendation algorithms. "This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission." The EU said it will carry out an in-depth investigation into Meta's child protection measures "as a matter of priority."
Persons: Mark Zuckerberg, Meta, Thierry Breton Organizations: Dirksen, Facebook, Meta, European Union, European Commission, CNBC Locations: Washington ,
The DA Davidson analyst has predicted as much as a 20% decline in Nvidia stock by the end of the year. Nvidia's largest customers could turn into competition as they develop their own AI chips, Luria warned. AdvertisementMost of Nvidia's business comes from its five largest customers, Luria said, which include Amazon, Meta, Microsoft, Alphabet, and Tesla. And while some of Nvidia's customers are stockpiling its GPUs, demand is bound to run out eventually, Luria previously told Bloomberg, as firms can only accumulate so many chips. AdvertisementLuria has among few forecasters who are bearish on Nvidia stock.
Persons: Gil Luria, Davidson, Luria, , BNN, That's Organizations: Service, Nvidia, BNN Bloomberg, Meta, Microsoft, Tesla, Apple, Bloomberg
Netflix to stream Christmas Day NFL games for three years
  + stars: | 2024-05-15 | by ( Jacob Pramuk | ) www.cnbc.com   time to read: +1 min
Netflix will stream Christmas Day NFL games for the next three years, in its first true step into live sports. The streaming platform will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the league announced Wednesday. It is unclear how much Netflix paid for the rights to stream the games. Now, Netflix will stream games for the most watched U.S. sports league, at a time when it is trying to boost profits by raising subscription prices, pushing users toward an ad-tier membership and cracking down on password sharing. The three Christmas Day NFL games averaged 28.68 million viewers last year, according to Sports Media Watch.
Persons: Mike Tyson, Jake Paul, We've, Ted Sarandos, Sarandos Organizations: Netflix, NFL, Sports Media Watch Locations: Los Angeles
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
In today's big story, we're looking at Google's big event that's pitching all the ways AI agents can make our lives easier . Google I/O, the tech giant's biggest developer conference, was heavy on the rise of so-called AI agents , writes Business Insider's Hugh Langley, who was there in person. AdvertisementGoogle's faithful, old search engine got a noticeable facelift with the help of AI , writes BI's Geoff Weiss. Steven Puetzer/Getty, Tyler Le/BIThe stakes for Google are high, as nailing AI agents opens up a massive business opportunity. For AI agents to be so intuitive, they'll need access to seemingly every aspect of our lives.
Persons: , Tyler Le, you've, OpenAI's ChatGPT, Hugh Langley, Sundar Pichai, Geoff Weiss, Hugh, Alistair Barr, Gregory Wayne, Steven Puetzer, hasn't, Alistair, Demis Hassabis, Minchillo, Keith Gill, Naz Vahid, Andy Sieg's, Noah Berger, Jia Feng, Tingting Ji, Jenny Chang, Rodriguez, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Google, Astra, GameStop, AMC Entertainment, JPMorgan, Citi, Amazon Web Services, Walmart, UPS, Nielsen, Cisco Systems, Warner Bros, Discovery Locations: New York, Dublin, London
Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Nvidia as buy UBS said it's standing by its buy rating heading into Nvidia earnings next week. Wells Fargo names Natera a top pick Wells said the fertilizer company is a new top pick at the firm. Morgan Stanley resumes Exxon as overweight Morgan Stanley resumed coverage of the stock and says it has "attractive growth at a compelling valuation." Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said it's bullish on shares of Palo Alto heading into earnings next week. Morgan Stanley names Dell a top pick Morga Stanley raised its price target on the stock and says it remains a best idea.
Persons: it's, Cantor Fitzgerald, Tesla, Canto, Tesla's, Wells, CTVA, KeyBanc, TD Cowen, Janus Henderson, Morgan Stanley, Palo, Bernstein, Mills, Campbell, underperform Bernstein, Wolfe, SunPower, Dell, Morga Stanley, Stephens, Truist, Oppenheimer, Will, DA Davidson Organizations: UBS, Nvidia, " Bank of America, Bank of America, Alphabet's, Google, JPMorgan, China, Deutsche Bank downgrades, Deutsche, Fair, Six, Sciences, NTR, Netflix, Energy, Palo Alto, Palo, Food, Tech, Barclays, General Motors, Holdings, ALC, Apple, Apple's Worldwide Developer's Conference, Will Apple, Walmart, D.A Locations: OW, Palo Alto, U.S
Funds like Renaissance Technologies, Two Sigma, and D.E. RenTech founder Jim Simons died last week; the billionaire stepped down as chairman in 2021. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe last full month of returns Renaissance Technologies delivered during its founder's life were strong. The quant giant's two largest funds for outside investors, Renaissance Institutional Equities Fund and Renaissance Institutional Diversified Alpha, did well in April, before the firm lost its founder, 86-year-old billionaire Jim Simons, on Friday.
Persons: Shaw, Jim Simons, , Simons — Organizations: Renaissance Technologies, Sigma, Service, Renaissance Institutional, Fund, Alpha, Business
Google's big summer conference, Google IO, kicks off today at 1 p.m. Business Insider will be in attendance and covering the biggest announcements — follow along below. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. ET to kick off Google IO, the company's annual developer conference. This story is available exclusively to Business Insider subscribers.
Persons: , it's, Sundar Pichai Organizations: Google, Service, Business
Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "That was a big, big mistake that they did that. They cut the… price target of Constellation," Cramer said. The CNBC Investing Club owns shares of Constellation Brands . The Investing Club has long owned Eli Lilly , which makes GLP-1s.
Persons: Jim Cramer's, Jim Cramer, Cramer, You've, cautioning, Eli Lilly Organizations: CNBC, Club, Boston, Jefferies, CNBC Investing Club, Constellation Brands, JPMorgan Locations: Swiss
Alibaba said it is working on a rival to ChatGPT, the artificial intelligence chatbot that has caused excitement across the world. Alibaba posted a beat on revenue in its fiscal fourth quarter ended March, even as the Chinese e-commerce giant's net profit plunged sharply. Here's how Alibaba did in the March quarter versus LSEG consensus estimates:Revenue: 221.9 billion Chinese yuan ($30.7 billion) versus 219.66 billion yuan expected. Net income attributable to ordinary shareholders came in at 3.3 billion yuan, down 86% year-on-year. It also separately implemented several high-profile management changes, with company veteran Eddie Wu taking over the reins as chief executive in September.
Persons: Alibaba, Eddie Wu Locations: ChatGPT, U.S
Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter. Walmart will still let staff work remotely part time, as long as they are in offices a majority of the time, the report said. Walmart employed approximately 2.1 million associates as of Jan. 31, 2024, according to regulatory filings. In February 2023, it shut three of its U.S. technology hubs and asked hundreds of workers to relocate to keep their jobs, pushing for more employees to report to work from office. Walmart didn't immediately respond to a Reuters request for comment.
Persons: Walmart didn't Organizations: Walmart, Wall Street Locations: Dallas , Atlanta, Toronto, Bentonville, Hoboken, Southern California
McDonald's reportedly plans to launch a limited-time $5 meal. AdvertisementMcDonald's is looking to launch a $5 meal in the US in a move to bring back price-sensitive customers. CEO Chris Kempczinski said McDonald's has local value meals around the US, but no standard national offering like competitors do. A meal consisting of the same four items — a McChicken, fries, a drink, and four-piece chicken nuggets — costs $18.26 in downtown New York City. AdvertisementThe new bundle would be priced lower than a Happy Meal, which starts at $6.39 in downtown Manhattan.
Persons: McDonald's, , Ian Borden, they're, Chris Kempczinski, Gunther Plosch Organizations: Service, Bloomberg, Restaurant Business, Customers, downtown, Burger King, Restaurant Brands Locations: New York City, downtown San Francisco, Manhattan
Microsoft said in a statement Monday that it's committing 4 billion euros ($4.3 billion) toward expanding its cloud and AI infrastructure in France, in addition to funding AI skilling and support for France's technology industry. The announcement was made during the "Choose France" summit, a gathering dedicated to encouraging foreign investment in France. Amazon, meanwhile, made a commitment of its own to invest 1.2 billion euros in France. Collectively, the commitments from Microsoft and Amazon to France amount to $5.6 billion of funding. In total, France reportedly bagged a record 15 billion euros of investment commitments from foreign companies at an annual "Choose France" summit on Monday.
Persons: it's, , Brad Smith, , , Frederic Duval, Duval, Emmanuel Macron, Macron, Redmond Organizations: Microsoft, Amazon, Facebook, FAIR, Mistral Locations: Athens, Greece, France, French, Mulhouse, Amazon's, Paris, Washington, Mistral
Just seven S & P 500 names are slated to post their quarterly figures, including Home Depot and Walmart. Management is scheduled to hold a call at 4:30 p.m. Last quarter: Cisco posted fiscal second-quarter results that beat expectations. What history shows: Cisco shares have risen after the last six earnings releases, Bespoke data shows. Thursday Walmart is set to report earnings in the premarket, followed by a call at 8 a.m. Last quarter: Walmart earnings topped analysts' estimates, thanks to soaring e-commerce sales . What history shows: Walmart has beaten bottom-line forecasts 71% of the time, per Bespoke.
Persons: Wells, Zachary Fadem, LSEG, Samik Chatterjee, Robert Ohmes Organizations: Home Depot, Walmart, CNBC, Investment, Cisco Systems, Management, Cisco, JPMorgan, Campus Networking, Bank of America
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "It's a quiet, incredible bull market because it's so diverse," Jim Cramer said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Stocks, Jim said, We're, , Jim, OpenAI, Jim Cramer's Organizations: CNBC, Dow Jones, Nasdaq, Procter, Gamble, Taiwan Semiconductor Manufacturing, Club, Nvidia, Broadcom, Reuters, Microsoft, Bloomberg News
Uber lost some of its "most frequent customers" thanks to the rise of remote working, its CEO said. Dara Khosrowshahi made the observation during the company's Q1 earnings call. That trend is reversing somewhat though, and "people are getting back to work," Khosrowshahi said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUber CEO Dara Khosrowshahi wants to see more workers going back to the office, and not just at his own company.
Persons: Uber, Dara Khosrowshahi, Khosrowshahi, Organizations: Service, Workers, Business
Four stocks in the Stoxx Europe 600 index tend to rise alongside Nvidia shares, according to an analysis of share price data by CNBC Pro . The European stocks are also semiconductor focused companies: ASML, VAT Group, ASM International , and BE Semiconductor Industries . The share price performances of these technology stocks were highly correlated to Nvidia's over the past year. However, unlike the AI chip giant's 210% share price increase over the past 12 months, these stocks rose relatively moderately between 40% and 85%. A correlation of zero would indicate no statistical link between the chip maker's stock and the share price of the four companies.
Organizations: Nvidia, CNBC Pro, ASM International, BE Semiconductor Industries, Group, BE Semiconductors, CNBC Locations: Europe, U.S, Germany, lockstep, Netherlands, Swiss
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