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OpenAI has introduced o1, a new model with "enhanced reasoning capabilities." BI tested the new model to see if it could reason its way to a better brand name. Even CEO Sam Altman has admitted OpenAI needs better product names. Go to newsletter preferences Thanks for signing up! AdvertisementOpenAI needs better product names.
Persons: OpenAI, Sam Altman, , Trevor Noah's Organizations: BI, Service, OpenAI o1, Business
Adobe shares fall 9% on weak fourth-quarter guidance
  + stars: | 2024-09-13 | by ( Ashley Capoot | In | ) www.cnbc.com   time to read: +2 min
Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange in New York City, Feb. 20, 2024. Shares of Adobe fell more than 9% on Friday, a day after the software company released third-quarter results that offered worse-than-expected guidance for the fourth quarter. Adobe reported $5.41 billion in revenue for the quarter, up 11% year over year and above the $5.37 billion expected by analysts according to LSEG. Analysts at Bank of America said Adobe reported results and outlook that were somewhat mixed but healthy overall. "No change to our positive view on Adobe," they wrote in a Friday note.
Persons: Shantanu Narayen, LSEG, Goldman Sachs, Adobe's, — CNBC's Michael Bloom, Kif Leswing Organizations: CNBC, New York Stock Exchange, Adobe, Bank of America, Microsoft, UBS Locations: New York City
New York City CNN —New US men’s national team coach Mauricio Pochettino said on Friday that his aim is nothing short of competing with – and beating – the best teams in the world. Finally, the 52-year-old Argentine was announced this past Tuesday, just minutes before the men’s national team labored to an uninspiring 1-1 draw in a friendly match against New Zealand in Cincinnati. Pochettino’s new charges have now failed to win their past four matches, a fact surely not lost on a head coach universally known as Poch, even if he wasn’t watching from inside the stadium. The recent hiring of U.S. Women’s National Team head coach Emma Hayes was a coup for the USWNT, as the Blues legend won no fewer than 16 trophies in her 12-year stint with the Chelsea’s women’s team. But does the new hire read anything into being unveiled on Friday 13th, a date many people are superstitious about?
Persons: Mauricio Pochettino, , Germain, Gregg Berhalter, Christian Pulisic, , Pulisic, Sport’s Don Riddell, Pochettino, , ” Pochettino, , Weston McKennie, Yunus Musah, Antonee Robinson, Tyler Adams, Timothy Weah, Giovanni Reyna, Folarin, Lionel Messi, Neymar, Mbappé, Emma Hayes, Hayes Organizations: York, York City CNN —, men’s, , Chelsea, Tottenham Hotspur, Paris Saint, CNN Sport, Copa America, New Zealand, CNN, Argentine, Mexico, women’s, South, Espanyol, Spain’s, Spain’s La Liga, English Premier League, Southampton, UEFA Champions League, Spurs, Liverpool, Ligue, Premier League, Pochettino, U.S, Women’s, Team, Blues Locations: York City, USA, Argentine, Cincinnati, New York, Austin, Panama, Canada, Mexico, Argentina, South Korea, Japan, United States, Europe, Spain’s La, Chelsea, Paris
The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.
Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S
Back in 2008, the Obama campaign made an unprecedented effort to target young voters. In critical swing states like Pennsylvania and Nevada, young voters were more likely to report being contacted by the Obama campaign than older voters were. The issues that fire up young voters are increasingly out of step with the interests of an older, more moderate electorate. Young women have grown more liberal, and young men have become noticeably more sympathetic to the GOP. Related storiesSo to court America's young voters, Harris needs to appeal to their desire for something new.
Persons: Kamala Harris, Tamara Keith, Harris, Obama, Joe Biden, Gen, They're, Zers, Gen Z, Hunter, Trump, David Shor, Young, Biden, she's, Hillary Clinton's, , Hillary Clinton, Joe Biden's, Harris doesn't, Tim Walz, Melanie, Camilla Harrison, hadn't Organizations: NPR, Obama, Democratic, Democrats, Pew Research Center, Trump, Gallup —, Pew, Democratic Party, Politico, Younger Democrats, GOP, Wall Street, New York Times, Monmouth University, Democratic National Convention, The New York Times, Biden Locations: Iowa, Pennsylvania, Nevada, American, Michigan, Siena, Florida
US stocks tested record highs as Fed chairman Jerome Powell delivered his speech at Jackson Hole. "The time has come for policy to adjust," Powell said, confirming imminent interest rate cuts. AdvertisementUS stocks tested record highs on Friday as Federal Reserve chairman Jerome Powell delivered remarks at the Jackson Hole economic symposium. AdvertisementOf note about Powell's Jackson Hole speech, according to Renaissance Macro Research, is that it didn't include the word "gradual." AdvertisementIf Friday's surge higher holds, it could buck the trend of the stock market's reaction to Powell's previous Jackson Hole speeches.
Persons: Jerome Powell, Jackson, Powell, , Susan Collins, Raphael Bostic, Powell's Jackson, Steve Sosnick, Sosnick Organizations: Service, Federal, Treasury, CNBC, Macro, Interactive Brokers
Starbucks Why we own it : Starbucks has one of the most recognizable brands of any restaurant. Like Starbucks, McDonald's has had a challenging 2024 and the company reported uninspiring results — missing on revenues, same-store sales, and earnings per share. Quarterly commentary Comparable store sales in North America — a key restaurant industry metric — fell 2%, slightly beating estimates of a 2.2% drop forecasted by Wall Street analysts, according to FactSet. In Starbucks' international segment, comparable store sales fell 7%, missing estimates of a 5.1% decline. A Starbucks store stands in Manhattan on January 30, 2024 in New York City.
Persons: Elliott, Elliott Management's, Dunkin, McDonald's, We'd, Laxman Narasimhan, We're, Narasimhan, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Starbucks, Revenue, Elliott Management, Bros, McDonalds, Citi, Wall Street, CNBC, Getty Locations: China, North America, U.S, East, Southeast Asia, Europe, Manhattan, New York City
Sometimes, Brené Brown starts meetings by asking attendees a simple question: How are you feeling, in two words? The two-word version prompts honest answers and encourages people to see each other as humans first, co-workers second, said Brown. Common answers include "anxious" and "tired," or someone describing their mentality as "vacation brain," she added. If someone says they're anxious and overwhelmed during a meeting, for example, Brown said she'll thank them for sharing before moving on to the next person. Then, after the meeting, she'll inquire about how the person is doing.
Persons: Brené Brown, Adam Grant, Simon Sinek, Brown, she'll
Read previewJP Morgan analysts say American Airlines leadership isn't doing enough to shore up profits, calm anxious investors, and improve stock performance after disappointing second-quarter results. American Airlines executives plan to lean on additional earnings from a recently revamped ticket distribution strategy as part of a turnaround strategy. AdvertisementThe disastrous policies cost the company $750 million in lost revenue during the first half of the year, American Airlines CEO Robert Isom said during the earnings call on Thursday. American Airlines did not respond to a request for comment. Second-quarter earnings for American, Delta, and United all fell short of Wall Street expectations.
Persons: , Morgan, they'd, JP Morgan, Jamie Baker, Baker, Robert Isom, JP, uninspiring, Scott Kirby Organizations: Service, American Airlines, Business, . American Airlines, United Airlines Locations: United
Related storiesThough Remi recruited people she knew, shadow stand-ins are often sourced from a complex online web of faceless providers. Facebook Groups are a popular forum for recruiting shadow stand-ins, providing a two-sided marketplace where workers and providers can connect to one another. The dustup highlighted a key drawback to shadow stand-ins: While alluring, things can go horribly wrong. "It required a lot of micromanaging," said a backend engineer in Pennsylvania who hired shadow stand-ins to help him juggle multiple jobs. Pay rates for shadow stand-ins are "definitely more than what people earn in their regular payday, that's for sure," he said.
Persons: Remi, Zer, couldn't, — Remi, Walter Keane, Margaret, Tim Ferriss, Raj Kumar, isn't, Kevin, Andrew, it's, Lorenzo Matteucci, Brandon Nowak, , Amber Clayton, Tim Woodruff, Woodruff, they're, Ranjan, Kiran, Rahul, Peter Steele, Michel Anteby, doesn't Organizations: Business, Labor, Verizon, Southwestern, Facebook, Amazon Web Services, BI, Companies, Corporations, Society for Human Resource Management, Secret Service, Department of, Treasury, FBI, LinkedIn, Boston University Locations: Chicago, India, Pakistan, China, Southwestern US, Atlanta, San Jose , California, Bengaluru, American Java, Southeast Asia, United States, Colorado, Southern California, Pennsylvania, Washington, Indian, Michigan, Oregon, England
Competition may have died down but the original smartphone wars were so intense for Steve Jobs he once declared that he'd start a "thermonuclear war." Smartphone wars in the AI eraThe smartphone market has been lagging. The company will be banking on Apple Intelligence being a hit with consumers, potentially revitalizing sales in markets like China. Samsung Galaxy S24 lineup. SamsungThe South Korean tech giant must be hoping to regain its crown as king of the smartphone market.
Persons: , Steve Jobs, Jobs, Walter Isaacson, Justin Sullivan, Assurant, Tim Cook, Siri, Apple, OpenAI, iPhones, Wang Gang, it's Organizations: Service, Apple, Samsung, Business, Android, Google, Samsung Galaxy, Samsung's, Apple Intelligence, Worldwide, Huawei, Project Astra, Galaxy, South, IDC Locations: China, Paris
CNN —Reigning champion Italy was knocked out of Euro 2024 in the last 16 after Switzerland produced a stunning upset to win 2-0 on Saturday at the Olympiastadion in Berlin. Swiss supporters didn’t have to wait long after the break for a second goal – only 27 seconds to be exact. Italy’s continued sloppiness on the ball carried over into the second half, immediately giving the ball away from it’s own kickoff. While Switzerland deservedly advanced, it was an uncharacteristically out-of-sorts performance for Italy, who’s defense of its title ends in the first knockout game of the tournament. Italy’s defeat means that the reigning champion has been eliminated in the round of 16 at the last three Euros.
Persons: Remo Freuler, Ruben Vargas, Murat Yakin’s, Freuler, Gianluigi Donnarumma, didn’t, Italy’s, Vargas, Ronny Hartmann, Riccardo Calafiori –, Gianluca Mancini, Breel, Stephan El Shaarawy, Manuel Akanji, Vargas vies, Italy's Gianluca Mancini, Karina Hessland, Reuters Italy’s, Ricardo Rodriguez, Fabian Rieder, Luciano Spalletti’s, Fabian Schär invertedly, Yann Sommer, Matthias Schrader, Federico Chiesa, Mattia Zaccagni, Gianluca Scamacca’s, Nicolò Fagioli Organizations: CNN — Reigning, Italy, Switzerland deservedly, Getty, Swiss, Reuters, BBC, AP Locations: Switzerland, Berlin, Italy, Vargas, England, Slovakia, Swiss, AP Italy
I talked to Samuel Freedman, a Columbia Journalism School professor, about his recent book about Humphrey and the 1948 Democratic convention in Philadelphia. The book’s title, “Into the Bright Sunshine,” is taken from a line in Humphrey’s rousing speech on civil rights. In 1968, the Democratic Party was operating under old rules in which primary voters actually had relatively little direct effect on delegates. When Strom Thurmond and the Dixiecrats bolted from the Democratic Party in 1948, that’s the beginning of the vast majority of the White South becoming Republicans, stepping away from the Democratic Party. Show me a major Republican politician in the MAGA movement who is a fervent supporter of civil rights legislation.
Persons: Joe Biden, Hubert Humphrey, Republican Richard Nixon, Humphrey, uninspiring, Harry Truman, Thomas Dewey, Samuel Freedman, Freedman, Biden, Truman WOLF, Donald Trump, FREEDMAN, Truman, – Henry Wallace, Strom Thurmond, Jill Stein, Minneapolis Hubert H, Lyndon, George McGovern, FDR hadn’t, Brown, Ed, WOLF, there’s, Martin Luther King, It’s, Lyndon Johnson, Bobby Kennedy, Eugene McCarthy, I’m, Nixon, Spiro Agnew, Byron Donalds, Abraham Lincoln, Adlai, Stevenson, Barry Goldwater, Nixon’s, Ronald, Reagan’s, Willie Horton, Jim Crow, MAGA, Mitt Romney’s, George Romney, William Scranton, Edward Brooke, that’s Organizations: CNN —, House, Republican, Minneapolis, Columbia Journalism School, Democratic, Democratic Party, Civil Rights Movement, RFK Jr, Democratic National Convention, Civil, Chicago, CNN, Civil Rights, Southern Democrats, South Carolina Democrat, Republicans, South, JFK, Trump, Republican Party –, LBJ, Southern, Republican Party, Michigan Gov, Pennsylvania Gov, NAACP Locations: Israel, Chicago, Vietnam, New York, Philadelphia, America, , Harlem, Minneapolis, Alabama, Southern, Montgomery, , Florida, Lincoln, Massachusetts
GameStop shares slide 16% following Friday's 40% sell-off
  + stars: | 2024-06-10 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Meanwhile, meme stock champion Keith Gill hosted his first livestream in a few years Friday. He revealed that he didn't have any institutional backers and the GameStop positions he had shared in screenshots were his only bets. The video game company's stock declined to just below $24 apiece on Monday after falling nearly 40% on Friday alone. GameStop shares fell more than 16% on Monday as the meme stock extended Friday's sell-off sparked by a dismal earnings report and a uninspiring livestream from Roaring Kitty. The analyst thinks that any boost GameStop got from Gill could turn out to be short-lived.
Persons: Keith Gill, Gill, Roaring Kitty, Michael Pachter, Pachter, NFTs, Roaring Organizations: New York Stock Exchange, GameStop, Amazon Locations: New York, Roaring
While he has stated support for Roe v Wade, in 2023, at a fundraiser Biden said, “I’m a practicing Catholic. Feminist activists demonstrate in favor of the decriminalization of abortion on International Safe Abortion Day, in Mexico City, September 2023. Silvana Flores/AFP/Getty ImagesFor decades, abortion was criminalized in Mexico, while in the US the constitutional right was established in the Roe v. Wade decision in 1973. Since the Supreme Court overturned Roe v. Wade, more than 20 US states ban or restrict abortion. I never imagined that.”In the US, I wonder if I will see a woman elected as president in my lifetime.
Persons: Alice Driver, , Mexico’s, Alice Driver Luis_Garvan, Claudia Sheinbaum, Xóchitl, , Donald Trump, Andrés Manuel López Obrador, Sheinbaum, Susan Segal, Trump, Stormy Daniels, Roe, Wade, Biden, “ I’m, I’m, Roe America, Silvana Flores, Verónica Cruz, ” Cruz Organizations: American Worker, Meatpacking Company, New Yorker, The New York, Oxford American, CNN, CNN —, Mexico City, Society, Americas, Roe, Getty, Mexico’s, America –, Trump, Biden, Young Texas Locations: Mexico, New, United States, New York, Roe, Mexico City, AFP, Arkansas, America, America – Mexico, Argentina, Colombia, Mexican
They can track a patient's health over time, suggesting personalized interventions. AdvertisementDonaldson was one of the first customers at Twin Health. Twin Health is the only company that leverages digital twin AI for diabetes "reversal" — or, as doctors prefer to say, "remission." If his blood sugar starts going up, he's noticed that getting out for a walk can help bring it back down. "All of my information goes in and it talks to me like a smarter version of myself saying, 'you ate this, this was really good.
Persons: , Devlin Donaldson, he'd, that's, Donaldson, I'm, Omada, Twin's, Twin, he's, Nicola Guess, Guess, she's Organizations: Service, Business, Twin Health, Virta, Oxford University, Apple Watch, Twin Health Healthcare, McKinsey & Company
There was a time when Nikki Haley thought an “unstable and unhinged” person should not be president. Flip-flopping has a long if uninspiring history in American presidential politics. But rarely have the flip-flops been as stark and head-snapping as those prompted by Mr. Trump. Ever since he vaulted to the leadership of the Republican Party eight years ago, the same Republicans who once deemed him a “kook,” a “pathological liar” and a “delusional narcissist” nonetheless have come around to endorse handing him the nuclear codes. Even some Republicans no longer aspiring to hold public office have buried their apprehensions to stay with the choice of the party’s voters.
Persons: Nikki Haley, Donald J, Trump, “ kook, , narcissist ” Organizations: Trump —, Mr, Republican Party, Republicans
Since then, several major investment firms have lifted their long-term S&P 500 price targets. The firm recommends pairing cyclicals and growth stocks with those attributes so that investors are prepared for stronger or weaker growth. Technology firms using AI need more power, which is a major long-term tailwind for utility companies, Wilson wrote. "We see the recent pullback as an attractive entry point and an opportunity to formally upgrade the sector to overweight," Wilson wrote. "Small-cap valuation is relatively cheap but earnings growth is highly concentrated," Wilson wrote.
Persons: , Brian Belski, Binky, Morgan Stanley, Long, Mike Wilson, subpar, Wilson, Wilson's, Goldman Sachs, Morgan, Morgan Stanley's Organizations: Service, Business, BMO Capital, Deutsche Bank, optimist, Consumer, Utilities
Selipsky's three years as AWS CEO were marked by mixed results. AdvertisementHe steered through some of the cloud business' slowest growth rates, largest layoffs, and biggest challenges in the artificial intelligence space. AdvertisementAmazon's generative AI service Bedrock was delayed after originally being scheduled to launch in the fall of 2022, the person said. Garman was once considered a frontrunner to replace former AWS CEO Andy Jassy in 2021 when Jassy took over as Amazon's CEO. Some insiders referred to Selipsky as "just a sales guy" and "uninspiring," as the cloud leader faced unprecedented competition in generative AI.
Persons: , Adam, Selipsky, shakeup, Patrick Neighorn, Matt Garman, Garman, Andy Jassy, Jassy, Amazon, Ashley Stewart Organizations: Service, Web Services, Business, AWS, Amazon, BI, Rivals Microsoft, Google
Read previewDespite years of believing it was the only path, a Los Angeles-based millennial decided against climbing the corporate ladder. Kirra Dickinson, a 27-year-old content creator and manifestation coach, told Business Insider she spent years in technology research after graduating from UC Berkeley. Dickinson said she felt pressure to climb the corporate ladder growing up. In the video, which has over 1.1 million views, Yin said he is electing to "descend the corporate ladder" to better his health. Like some commentators on Yin's video, Dickinson said she felt "relieved" after ditching the corporate ladder.
Persons: , Kirra Dickinson, Dickinson, we're, Octavia Goredema, Zers gravitating, Goredema, Aaron Yin, Yin Organizations: Service, UC Berkeley, Business, Fidelity Locations: Los Angeles, Boston, Salesforce, Southern California, New York
That's over a 2000% gain, compared to 83% for the S & P 500. While the absolute numbers were uninspiring, the relative performance, versus the S & P 500, was even more discouraging. Of the 49 double-bagger-plus names, only 21, or 43%, outperformed the S & P in the next year, with 28, or 57% underperforming. It generally relies on earnings growth, often before those profits emerge, but eventually as the company's sustaining force. Does that mean buying NVDA is safe, because of that earnings growth rate?
Organizations: Nvidia
AdvertisementBusiness Insider asked Manuela Hamilford, founder and principal designer of Hamilford Design , to share the items she wouldn’t have in her home. Here’s what the high-end designer, who specializes in luxury interiors and has been in the industry for over 25 years, avoids in her own space. Yuganov Konstantin/Shutterstock“White walls are tricky to keep pristine and don’t age well,” Hamilford told BI. “Although your inner 14-year-old may be drawing you towards all things shiny, back away from the crystal-trimmed cushions,” the designer told BI. AdvertisementThe designer avoids flush-mount ceiling lights in her homeFlush-mount ceiling lights are a no-no, especially in a dining room.
Persons: Manuela Hamilford, they’re, Konstantin, Shutterstock, ” Hamilford, you've, Hamilford, , they're, Mike Higginson, She's,
The Jan. 31 session, which came after the first Big Tech earnings day, was tough. A non-stock devotee would be blown away by any of the following data points: In the fourth quarter , Meta grew ad volume by 21% year over year. Meanwhile, net sales for Amazon in 2023 hit $574.8 billion – a 12% increase from the year earlier. The above table illustrates the compound annual growth rate analysts expect for the mega caps, the S & P 500, and the 494 stocks excluding the Big Six. This compares to 20.3 for the S & P 500.
Persons: we've, Jerome Powell's, Meta, Apple, bemoaned Meta's, ROA, — Karen Firestone Organizations: Big Tech, Microsoft, Nasdaq, Nvidia, Apple, Google, Power, Amazon, TikTok, Facebook, Asset Management
At the time, I was living almost 600 miles away, but wanted to be her caregiver. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It was the day an ambulance rushed my mother to the hospital — and the day "cancer" became a routine topic of conversation in our household. I wanted to be my mother's caregiver but lived 600 miles awayThe care team developed a treatment plan that included monthly rounds of chemotherapy and radiation. Almost 600 miles separated my parents' home in coastal North Carolina from my Brooklyn apartment.
Persons: , Tiffany Drummond's Organizations: Service Locations: North Carolina, Brooklyn, New York
No modern president has been as visceral about Washington as Trump – and his contempt offers insight into his politics and his character. Washington’s marbled monuments have also been the been the backdrop for some of the most notorious moments of Trump’s political career and have highlighted his autocratic leanings. In 2020, he tweeted that people protesting the death of Floyd would be met by “vicious dogs” if they breached the White House fence. Lyndon Johnson and George W. Bush were always keen to swap the White House for their Texas ranches. Presidents have also often ventured out of the White House for refreshment.
Persons: Donald Trump, Washington, , ” Trump, , Trump, He’s, Steve Bannon, he’s, George Floyd, Joe Biden’s, Floyd, Muriel Bowser, It’s, , Washington –, Franklin Roosevelt, Lyndon Johnson, George W, Bush, Biden, Barack Obama, Theodore Roosevelt, Ronald Reagan, Abraham Lincoln, he’d, John Kennedy, Richard Nixon, Jimmy Carter, Ulysses S, Grant, Andrew Johnson, Grover Cleveland, Warren Harding, Clinton, Obama, Rudy Giuliani, MAGA, Washington Trump, George Washington, State Thomas Jefferson Organizations: CNN, Brotherhood of Teamsters, GOP, Capitol, Democratic, Trump, Fox, Memorial, Washington, Civil Rights, Washington’s Democratic, White House, Northwest DC, USS, Republican, Democratic National Committee, – Air Force, Boeing, West Palm Beach, State, Washington , D.C, White Locations: Manchester , New Hampshire, Washington ,, Washington, Lafayette, St, John’s, , America, Springs, Georgia, Hyde, , New York, Texas, Virginia, Florida, New Jersey, Delaware, Chicago, Rock Creek, Northwest, West Palm, Georgetown, Trump, Pennsylvania, Athens, Rome, Republic
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