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artificial-intelligence-revolutionaries-evercore-uber-correction
  + stars: | 2024-04-23 | by ( ) www.cnbc.com   time to read: 1 min
This article has been updated to reflect that in February, Uber's revenue for the fourth quarter was up 15% from the same quarter last year. An earlier version of this article misstated the quarter.
Airbnb's new chief business officer correction
  + stars: | 2024-04-23 | by ( ) www.cnbc.com   time to read: 1 min
Dave Stephenson started as Airbnb's chief financial officer in 2019. An earlier version misstated the year.
Persons: Dave Stephenson
Nine people were arrested Tuesday morning at the University of Minnesota’s Twin Cities campus after they formed an encampment that went against school policy, the university told CNN in a statement. The university's Department of Public Safety received reports Tuesday morning of an encampment near the Northrop Mall on the Twin Cities campus, the statement said. Police arrived around 6 am local time and told those at the encampment "they were in violation of both University policy and state trespassing law," they said. Police asked the group to disperse by 7 am and told they would be arrested if they stayed. The university said in its statement it "supports and respects free speech through lawful protest" and "supports the rights of all members of our University community to speak and demonstrate peacefully."
Organizations: University of Minnesota’s, CNN, university's Department of Public Safety, Northrop, Twin Cities, Police, University, The, Staff, Justice, University of Minnesota Locations: University of Minnesota’s Twin Cities, Palestine
Less obviously visible but equally impressive are the historical treasures, some more than 12,000 years old, that can be found underground. Unlike the Basilica, this underground chamber was completely forgotten about until less than 15 years ago. Other than locals herding their livestock through the ruins of a garrison city dating to the 6th century, few people went there. Now, the site has given up numerous treasures including rock-cut tombs, an olive processing workshop and a series of underground cisterns. Yeraltı, literally meaning underground, was originally a dungeon in the basement of a fort built by the Byzantines in the 8th century CE.
Persons: James Bond, Theodosius II, Theodosius, Derinkuyu, tufa, émigrés, Han, Rümeli Han, Sarıcazade Ragıp Pasha, Sultan Abdülhamid II’s, Sancaklar, Göbeklitepe, Yeraltı, , Fatih Sultan Mehmet, Grand Vizier Bahir Mustafa Paşa, dervish Organizations: CNN, Love, UNESCO, Şanlıurfa Archaeology Locations: Turkey, Europe, Asia, Russia, Faith, Istanbul, Constantinople, Fatih, Belgrade Forest, Valens, Dara, Mardin, Nevşehir, Cappadocia, Derinkuyu, Taksim, stairwells, Sancaklar, Büyükçekmece, Mecca, Göbeklitepe, everyone’s, Şanlıurfa, Karaköy, Yeraltı, Ottoman, Grand
Now the California-based startup is attempting to make asteroid mining a reality. That makes AstroForge the only company with a refinery that can turn M-type asteroids into PGMs in space, he adds. Some in the scientific community are skeptical that the private sector will be able to afford asteroid mining. Its all-or-nothing, lower-cost approach may help push asteroid mining closer to reality. “I hope if nothing else,” Gialich says, “we’re known as a space company that went for it.”
Persons: Matt Gialich, Gialich, Jose Acain, , , we’re, “ We’re, AstroForge, Edward Carreon, “ that’s, , Dan Britt, REx, James Cameron, Larry Page, Britt, “ I’m, ” Gialich, NASA's, Aubrey Gemignani, ” Britt, AstroForge’s Organizations: CNN, Virgin, SpaceX, NASA, Companies, Apple, Center, University of Central, JAXA, United, United Arab Emirates ’ Space Agency, UAE Space Agency, AP NASA, Planetary Resources, Titanic, Google, NASA's Kennedy Space Center, Getty Locations: California, University of Central Florida, China, United Arab, United Arab Emirates, Utah, Los Angeles, Florida
An independent review of the UN's main relief agency in Gaza has found that “neutrality-related issues persist” among staff, and recommended strengthening UNRWA's neutrality. Israel has longstanding issues with UNRWA, accusing it of aiding Hamas and calling for it to be entirely dismantled. What the UN said: UN chief Antonio Guterres accepted the recommendations, while UNRWA head Philippe Lazzarini welcomed the findings. What Israel said: The review was not "genuine" or "thorough," Israeli Foreign Ministry spokesperson Oren Marmorstein claimed. "This is what an effort to avoid the problem and not address it head on looks like," he said.
Persons: Israel, Catherine Colonna, Antonio Guterres, Philippe Lazzarini, Oren Marmorstein Organizations: French, UN, Foreign Ministry Locations: Gaza, Israel
CNN —Britain’s Prince and Princess of Wales have released a new photo of Prince Louis to mark his sixth birthday on Tuesday, the first image to be released by the family since a photo-editing scandal erupted last month. A royal source said the Waleses were grateful for the birthday messages they have received for Louis and the photo was taken by Kate, 42, in the last few days in Windsor. “This is in an unprecedented time for the Wales family as the princess continues her recovery,” the source said. The Waleses have released a celebratory photo of Louis each year to mark his birthday. Kensington Palace had released an official family photo, said to have been taken by Prince William, which was later found to have been tampered with.
Persons: CNN —, Prince, Princess, Wales, Prince Louis, Louis –, Catherine , Princess of, Louis, Kate, William, Catherine, Mario Testino, Chris Jackson, Millie Pilkington, Prince William, Kate –, , , , Queen Elizabeth II, King Charles III Organizations: CNN, Twitter, Getty, CNN’s Royal Locations: Catherine , Princess of Wales, Windsor, , Wales, Sandringham, Kensington
Heightened geopolitical tensions have triggered volatility in crude oil prices, but one strategist is looking keenly for opportunities in the energy sector. Stephen Ellis, energy and utilities strategist at Morningstar, said oil market volatility does present challenges and urged investors to be patient, which "regularly pays off within energy." Brent crude oil prices were trading around $86.50 on Apr. 'Quality' names within energy Ellis said he searches for quality names when selecting stocks in the energy space. "All of these are 'moaty' firms that have some upside to our fair value estimates, even in a period of high oil prices," Ellis explained.
Persons: Stephen Ellis, Ellis, Morningstar, SLB Morningstar, It's Organizations: Morningstar, CNBC Pro, TC Energy, APA Corp, ExxonMobil, Schlumberger Locations: Brent, Suriname
Now, Threads has more daily users in the US than X, a trend that's been ongoing since December, when Threads became Apple's most downloaded app. "Threads DAUs in the US passed X in December 2023 and it has not looked back," Thomas Grant, Apptopia's VP of research, said. That's a roughly 55% increase in DAUs from December when Threads averaged an estimated 18 million users each day. According to Sensor Tower estimates, daily users of the X app worldwide are down 19% compared to October 2022, the month that Musk took over Twitter. An estimate of daily users from Apptopia for the week also shows no gain in Threads users.
Persons: Elon Musk, Thomas Grant, Apptopia's, It's, Musk, X, Mark Zuckerberg's, Taylor Swift, Swift, MAUs, Zuckerberg, X MAUs, Kali Hays Organizations: Service, Elon, Business, Apple, Google, Twitter, US Locations: That's, DAUs, khays@businessinsider.com
Others took evening walks in the city and shared the bright orange scenes on social media. A low-pressure system over northern Africa swept dust over Cyprus several times in mid-April, “darkening skies and reducing air quality,” NASA said Tuesday. Dust was expected to continue to cross the Mediterranean, impacting both Cyprus and Greece over the next several days, NASA said. People cross a snow covered railway in Helsinki, Finland, on April 23, 2024, as an unusual weather system brought trams in the city to a halt. Photos showed Helsinki residents walking through thick snow and ice, carrying umbrellas under heavy snowfall, and tall clusters of snow piled up on sidewalks, cars and scooters.
Persons: Alessandro Rampazzo, Johannes Laitila, Finavia, ” Finavia, , Antti Vigelius Organizations: CNN, NASA, Anadolu Agency, Getty, YLE, Helsinki Airport, Johannes Locations: Greece, Africa, Athens, Cyprus, Helsinki, Finland, Europe
As Airbnb's recently appointed chief business officer, Dave Stephenson is playing a crucial role in the company's future growth plans. He's also filling another role that is critical to that growth: an Airbnb host. An avid skier and hiker, Stephenson is quick to share details of the best trails with his guests. Airbnb is also looking to expand its services, making it easier to be a host as well as a guest. That could include helping hosts facilitate check-ins or helping them get the items they need for guests, like linens.
Persons: Airbnb's, Dave Stephenson, He's, Stephenson, Brian Chesky, Chesky, Airbnb Organizations: Airbnb, CBO, Netflix Locations: Ankara, Turkiye, Amazon, Seattle , Washington, that's, Germany, South Korea, Brazil, Bavaria, Washington
PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, despite a recall of some Quaker Foods cereal and bars that dented U.S. volume. The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter. The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume. The Quaker Foods recall dented Pepsi's organic volume by roughly 1%. For the full year, the company is expecting organic revenue will rise at least 4% and core constant currency earnings per share will climb at least 8%.
Organizations: Pepsi, Brooklyn borough New, PepsiCo, Quaker, LSEG, Gatorade, North, Quaker Food, Quaker Oats, Frito, Lay Locations: Flatbush, Brooklyn borough, Brooklyn borough New York City, Quaker, America, U.S, Asia Pacific, Australia, New Zealand, China, Europe
General Motors — Shares rose more than 4% after the automaker exceeded analysts' expectations for its first-quarter results . General Motors posted adjusted earnings of $2.62 per share on revenue of $43.01 billion. Danaher — The life sciences firm popped more than 7% after beating analysts' expectations for its first-quarter results. Spotify — The streaming music company surged 16% after easily topping earnings expectations . KeyBanc Capital Markets downgraded Sunnova Energy to sector weight from overweight, citing caution on residential solar names particularly ahead of first-quarter earnings.
Persons: General Motors, JetBlue's, LSEG, Nucor, Danaher, Sherwin, Williams, Sunnova, LKQ, MSCI, — CNBC's Michelle Fox, Sarah Min, Jesse Pound Organizations: General Motors, General, GE Aerospace —, GE, PepsiCo, Novartis, JetBlue Airways —, Spotify, JPMorgan, Sunnova Energy, KeyBanc, FactSet Locations: U.S, LSEG . Cleveland, Cleveland
Tesla is due to report earnings after the bell Tuesday, with Wall Street looking for any sign of a reprieve from this year's struggles. Here's the company's setup heading into the report, what analysts expect and which product updates analysts and investors are going to focus on. Big earnings drop expected For the first quarter, analysts polled by LSEG expect Tesla to report earnings of 51 cents per share, which represents a 39.8% year-over-year decline in earnings. Wells Fargo's Colin Langan maintained his underweight rating and cut his price target to $120 a share, citing poor fundamentals. Deutsche Bank's Emmanuel Rosner downgraded the stock to hold from buy and slashed his price target to $123 a share.
Persons: Tesla, Tom Narayan, Itay Michaeli, Wells Fargo's Colin Langan, Deutsche Bank's Emmanuel Rosner, Rosner, Morgan Stanley's Adam Jonas, Jonas, Elon Musk, Musk, America's John Murphy, Murphy, Deutsche Bank's Rosner, Levy Organizations: Management, RBC, LSEG, Citi, Deutsche, EV, Reuters, America's, Barclays, Tesla
Meta Platforms will report its first-quarter earnings on Wednesday after the closing bell. Wall Street is optimistic about the social media firm's result, citing optimism around AI and ad spending. Here's what Wall Street expects from Meta's first-quarter earnings after the closing bell on Wednesday:Wells Fargo: In need of a new catalystWells Fargo has projected ad-led strength in the first-quarter, with Meta benefiting from a robust e-commerce environment. The bank highlighted the fact that Instagram Reels has reached revenue neutrality, and should remain a key revenue growth tailwind over the coming years. JPMorgan rates Meta at "Overweight" with a $535 price target.
Persons: , Wells, Ken Gawrelski, optionality, Brad Erickson, Goldman Sachs, Goldman, Justin Post, Nitin Bansal, Doug Anmuth Organizations: Service, Meta, RBC, Bank of America, Washington . Bank of America, JPMorgan Locations: Meta's, Fargo, Wells, Washington .
UBS doesn't see the Federal Reserve embarking on rate cuts until September — and that means now is the time to snap up tax-free municipal bonds. Bond yields and prices move inversely, so a decline in rates will come with price appreciation for the underlying issues. "Against that backdrop, we believe that yields on quality municipal bonds look attractive at current levels," wrote UBS Wealth Management senior municipal bond strategist Kathleen McNamara in a report last week. The kicker of tax-free income Muni bonds are generally backed by the full faith and credit of the issuer, which makes them less of a default risk compared with corporates. Large diversified municipal bond funds can be cheap, but state-focused funds tend to be a little more costly.
Persons: Kathleen McNamara, McNamara, FKTFX Organizations: UBS, Federal, UBS Wealth Management, Bond, SEC, Vanguard California, Franklin, Franklin California Tax, Income Fund, Muni Bond ETF, Vanguard New Locations: There's, New York , California, New Jersey, California, Franklin California
Companies are using drones and special software to plant trees and overcome reforestation pain points. Robotics making reforestation more efficientThe tech-driven company Mast Reforestation uses drones and biotechnology to help landowners restore forestland after wildfires. Another company using robotics to plant trees is Flash Forest, which employs automated drones to restore burn sites and other damaged forest areas. To combat this issue, Mast Reforestation uses its custom-built software as a seed-inventory and seed-collection logistics platform. The software helped Mast Reforestation collect enough seeds last year to reforest about 2,100 acres on Sheep Creek Ranch in Montana.
Persons: Matthew Aghai, Aghai, Grant Canary, they're, Chris Ireland, Flash, Randy Johns, Jeff Renton, Forest's Organizations: Service, Global Forest Watch, Forest, Ireland, Business, Flash, Boreal, Keewatin Community Development Association, Flash Forest Locations: forestland, Technology, , Canada, Ireland, Keewatin, Canadian, Saskatchewan, Montana, , Montana
A new social media trend is urging users to "look between" certain letters on their keyboard. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. That's because of a new trend that is enthralling — and irritating — thousands of users on X and other similar platforms. cheaters will tell you they love you and then their actions tell you to look between h and l on your keyboard. that's all we baggin' this year, trust — ً (@ahdebee) April 21, 2024look between Y and I on your keyboard, that’s all I want.
Persons: JK, , you've, Yui Hirasawa, — Kemi Marie, Jesus, ike Organizations: Service, 4chan, New England Patriots, Brands
Read previewDigital regulators in Europe are clamping down on a new feature by TikTok that rewards users for consuming videos and interacting with creators, citing addiction concerns among children. The European Commission said on Monday that it had opened formal proceedings against TikTok Lite, a spinoff version of the TikTok app that uses less mobile data and launched in Spain and France in March. Users can earn such points on the Lite app by watching videos for up to 85 minutes daily. "We suspect TikTok 'Lite' could be as toxic and addictive as cigarettes 'light,'" said Thierry Breton, commissioner for the internal market in the EU. "The TikTok Lite rewards hub is not available to under 18s, and there is a daily limit on video watch tasks," the spokesperson said.
Persons: , TikTok, Thierry Breton, Tiktok, TikTok didn't, Breton, it's Organizations: Service, European, Business, AFP, Digital Services Locations: Europe, Spain, France, EU
A solar energy company and a video game maker were highlighted by analysts Tuesday. Meanwhile, JPMorgan upgraded Roblox to overweight from neutral, and its new price target implies upside of more than 35%. — Pia Singh 5:43 a.m.: KeyBanc downgrades beaten-down solar stock Sunnova Energy Heading into first-quarter earnings, KeyBanc Capital Markets is cautious on residential solar names, particularly Sunnova Energy . Analyst Sophie Karp downgraded the Texas-based residential and commercial solar energy company to sector weight from overweight and removed her price target on the stock. It also raised its price target to $48 from $41, implying a 37% rally over the next 12 months.
Persons: KeyBanc, Oppenheimer, Dwight, Rupesh Parikh, Parikh, — Pia Singh, DataDog, Andrew Nowinski, Datadog, Nowinski, Yun Kim, Kim, MDB, KeyBanc downgrades, Sophie Karp, Karp, , Cory Carpenter, Carpenter, Fred Imbert Organizations: CNBC, JPMorgan, Loop Capital, Sunnova Energy, NOVA, SolarEdge Technologies, Enphase Energy Locations: Sunnova, Parikh, Wells Fargo Wells, Texas, U.S
Nvidia has been a cash cow for retail investors lucky enough to buy before the huge AI-fueled rally. Early retail investors told Business Insider their gains have paid for cars, vacations, and dream homes. The stock's steep climb — up over 1,500% since 2019 — has transformed the lives of some of Nvidia's long-term retail investors, resulting in comfier retirements, new cars, and gains worth millions for some. Nvidia shares tumbled by more than 30% in 2018. That sense of security that such a windfall provides was the top theme among the Nvidia investors Business Insider connected with.
Persons: , I'm, ChatGPT, Tom, he'll, Danial hadn't, Danial, Roth, Jeff Roberts, Rick, He's, Chris Downs, Downs, he's Organizations: Nvidia, Business, Service, Vanda Research, Apple, Invest, Mexico City Locations: New Jersey, Texas, Costa Rica, Missouri, Bolivia, Paris, Mexico, Spain
Tesla — The electric vehicle maker climbed 6.9% despite earnings coming in weaker than analysts forecasted for the first quarter. Tesla posted 45 cents in adjusted earnings per share on $21.3 billion in revenue, while analysts surveyed by LSEG anticipated 51 cents and $22.15 billion. Mattel said it gave up 5 cents per share in the first quarter, less than the 12 cents anticipated by analysts polled by LSEG. Mattel saw $810 million in revenue for the three-month period, under Wall Street's consensus estimate of $832 million. The company said to expected second-quarter revenue between $290 million and $330 million, under the consensus forecast of $349 million.
Persons: Tesla, LSEG, Enphase Organizations: Mattel, LSEG, Texas, Visa
The results were better than analysts' expectations of 65 cents per share on revenues of $15.14 billion, according to LSEG. UPS posted $1.43 adjusted earnings per share while analysts had estimated $1.29 earnings per share, according to LSEG. Danaher — The life sciences firm popped more than 8% after beating analysts expectations for its first-quarter results. Spotify — Shares rallied 8.4% after the music streaming company's first-quarter revenues beat analysts' expectations. Sherwin-Williams reported adjusted earnings per share of $2.17, missing the FactSet consensus estimate of $2.22.
Persons: General Motors, Nucor, Danaher, Lockheed Martin, LSEG, Sherwin, Williams, — Hakyung Kim, Tanaya Macheel, Alex Harring, Jesse Pound, Lisa Han Organizations: General, GM, GE Aerospace —, United Parcel Service, UPS, Pepsico —, Pepsico, Novartis — U.S, JetBlue Airways —, JetBlue, Wall Street, SAP — U.S, SAP, Revenue, Lockheed, , Spotify Locations: Swiss, Wall Street Cleveland
The New York hush money trial of Donald Trump is set to resume Tuesday with testimony from its first witness, former National Enquirer publisher David Pecker. Most either referenced, or linked to articles referencing, Trump's former lawyer Michael Cohen, a key witness in the Manhattan Supreme Court trial. The posts "unquestionably relate to known witnesses and prospective jurors in this criminal trial" in violation of Trump's gag order, a state prosecutor wrote in a court filing Thursday. Defense lawyer Todd Blanche fired back, "I have a spoiler alert: There's nothing wrong with trying to influence an election. Manhattan District Attorney Alvin Bragg accuses Trump of carrying out the hush money scheme in order to influence the 2016 election, which he would go on to win.
Persons: Donald Trump, Stormy Daniels, David Pecker, Pecker, Trump's, Michael Cohen, Jesse Watters, Juan Merchan, Trump, Matthew Colangelo, Todd Blanche, It's, Cohen, Daniels, Attorney Alvin Bragg Organizations: National Enquirer, Manhattan Supreme, Fox News, Liberal, Trump, Manhattan, Attorney Locations: Manhattan, New York City, U.S, York
Sections of the Ghazipur landfill in New Delhi burst into flames on Sunday, causing dangerous heat and methane emissions and adding to India’s growing climate challenges. Smoke rises on April 23, following a fire that broke out at the Ghazipur landfill in New Delhi, India. Noemi Cassanelli/CNNFires burning at Ghazipur landfill site in New Delhi, India, April 22, 2024. Ghazipur landfill in New Delhi on April 23, following a fire that broke out. Firemen work to douse the fire at Ghazipur landfill on April 22, 2024 in New Delhi, India.
Persons: Noemi Cassanelli, Adnan Abidi, Taj, Narendra Modi, Vipin Kumar, hasn’t Organizations: New, New Delhi CNN, CNN, Reuters, Center for Science, Clean Air Initiative, Municipal Corporation of Delhi, Solutions, Indian, Firemen, Hindustan Times Locations: New Delhi, India, Ghazipur, Bhalswa
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