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He outlined three recent events that give him cause for concern: Cohere valuation The first is that generative AI company Cohere is reportedly on track to raise funds at a $5 billion valuation. "Another red flag was Microsoft's ability to hire the CEO and 70 staff from the AI start-up Inflection AI," he said. Amazon investment Emphasizing the "FOMO effect" around AI, Windsor noted that even tech giant Amazon isn't immune. Amazon's largest-ever investment will see it continue to pump money into the generative AI start-up, which has a chatbot Claude that competes with OpenAI 's ChatGPT. He added that he already owns chip stock Qualcomm , which is in a "very good position to benefit as generative AI starts to be implemented at the edge."
Persons: Richard Windsor, Cohere, Windsor, Martin Kon, Claude, OpenAI, Stocks, , Kate Rooney Organizations: Radio Free Mobile, Mar, CNBC, Nvidia, Google, Windsor, Nomura Securities, Microsoft, Qualcomm Locations: Amazon's
Here are Thursday's biggest calls on Wall Street: Wells Fargo reiterates Bank of America as overweight Wells Fargo raised its price target on Bank of America to $44 per share from $40. HSBC downgrades Bank of America to hold from buy HSBC downgraded Bank of America mainly on valuation. Benchmark reiterates Nvidia as buy Benchmark said it's standing by its buy rating on Nvidia. Bank of America reiterates Amazon as buy Bank of America said it's bullish on Amazon's investments in AI. "We are initiating coverage on CYBR with a Buy rating and a $317 PT."
Persons: Wells Fargo, Bernstein, it's, Goldman Sachs, Tesla, Goldman, Piper Sandler, Piper, Clark, Kimberly, Claude, Estee Lauder, BTIG, TD Cowen, Cowen, Grindr, William Blair, Bentley, Morgan Stanley, JPMorgan, KeyBanc, Oppenheimer, Monness Crespi Hardt downgrades Palantir, Palantir Organizations: Bank of America, FDIC, Apple, HSBC downgrades Bank of America, HSBC, of America, PNC, Tesla, EV, Kimberly, Nvidia, Amazon, Bentley Systems, Allstate, JPMorgan, Major Pharma, Citi, Boeing, Barclays, Meta, SNAP Locations: mkts, DraftKings
Georgia lawmakers voted on Thursday to tighten the state’s already strict immigration laws in response to the killing of Laken Riley, a 22-year-old nursing student, whose death became ensnared in the broader fight over immigration policy after a man from Venezuela who entered the country illegally was charged with her murder. In the frenzied final hours of the legislative session, the state’s House of Representatives gave final approval to a measure that would require local law enforcement agencies to scrutinize the immigration status of people in their custody and to cooperate with federal immigration authorities. The legislation was the result of a vow from Republican lawmakers to crack down after Ms. Riley’s body was found last month in a wooded area on the University of Georgia campus in Athens. Her death rattled the community that is the home of the state’s flagship university, roughly 70 miles from Atlanta. The case quickly reverberated beyond Georgia, with Republicans arguing that her killing exemplified a failure by President Biden to adequately respond to an influx of migrants.
Persons: Laken Riley, Biden Organizations: University of Georgia Locations: Georgia, Venezuela, Athens, Atlanta
Ukraine's intelligence chief claimed on Wednesday that Russia was aware that a terrorist attack was being planned since at least Feb.15. The Islamic State militant group claimed it was behind the Moscow attack, but Russia has blamed Ukraine and its allies, saying they orchestrated the attack. Budanov claimed Russia knew where the combat groups would come from, and which countries the attackers would travel through to reach Russia. Similarly, Russia has not produced evidence to back up its claims that Ukraine and the West were behind the terrorist attack. Read more here: Russia knew of terrorist attack plot weeks ago, Ukraine's military spy chief says— Holly Ellyatt
Persons: Kyrylo Budanov, Dmytro Kotsiubailo, Budanov, Ukrinform, Read, — Holly Ellyatt Organizations: Directorate of Intelligence, Crocus City Hall, Russian Federation, Islamic State, White, Russia Locations: Ukraine, Kyiv, Russia, Crocus, Moscow, Syria
Meme-stock fans have boosted Trump Media & Technology Group stock by nearly 80% this week. Truth Social's parent company is now valued at over $13 billion on a fully diluted basis. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeme-stock mania has boosted the value of Trump Media & Technology Group beyond Etsy, Hasbro, and Paramount Global — three S&P 500 companies worth nearly $8 billion each. Truth Social's parent company completed a SPAC merger on Monday, and began trading under the ticker DJT on Tuesday.
Persons: Ralph Lauren, Campbell Soup, Organizations: Trump Media & Technology Group, American Airlines, Service, Trump Media & Technology, Hasbro, Paramount Global, Business
Pamela Holt lost her entertainment career after two car accidents. "I hit rock bottom on that second accident," Holt told BI. Related storiesAfter a successful surgery, Holt woke up to her mom, who was already on the phone with American Airlines. After booking the trip, Holt told her doctors she planned to lug around a 40-pound backpack just half a year later. Pamela Holt at Vatican City, which is surrounded by Rome.
Persons: Pamela Holt, , Holt, Pamela Holt Holt's, Petra —, Pamela Holt's Organizations: Service, American Airlines, Vatican City, Amazon Prime Locations: Mexico, Machu Picchu, Peru, Petra, Jordan, South America, Rome, Vatican, Holt, Thailand, Vietnam, Iceland, Bhutan
“I just don’t see how this stunt can do anything to significantly alter those risks and instead reflects the relative privilege of the parents involved,” he said. Parents have been on edge after a few high-profile crimes on university campuses. Berkeley mascot — spent more than $40,000 to hire the security officers through a contractor. From March 6 to 23, six “safety ambassadors” in bright yellow jackets patrolled areas near the school, but not on campus, from 6:30 p.m. until 3:30 a.m. The areas were chosen because of recent crime reports, according to the parents.
Persons: , , , Sagar Jethani, SafeBears Organizations: Augusta University, University of Georgia Locations: Athens, Ga, . Berkeley
Unlike Obama and Clinton before him, Biden is running against a candidate only a few years his junior. It was a twist on how Clinton answered a question about Dole's age during the second presidential debate in 1996. There is not much precedent for the event Biden's campaign is putting on Thursday. Obama, Biden and Clinton will inevitably go down memory lane during a discussion moderated by comedian Stephen Colbert. Aside from private conversations, Biden also often directs his top aides to follow up with Obama or Clinton on various topics of conversation.
Persons: Barack Obama, Joe Biden, Bill Clinton, Robert Byrd, George H.W . Bush, Bob Dole, John McCain, , Biden, Obama, Clinton, Still, Dole, McCain, Seth Meyers, Donald Trump, Sen, Scott Reed, Reed, Mike Pence's, — McCain, Mark Salter, George W, Bush, Hillary Clinton, Salter, McCain's, Mindy Kaling, Jill Biden, Queen Latifah, Lizzo, Ben Platt, Cynthia Erivo, Lea Michele, Annie Leibovitz, Harris, Jeffrey Katzenberg, Rufus Gifford, Chris Korge, Condé, Anna Wintour, Julie Chavez Rodriguez, DJ D, Stephen Colbert, Jeff Zients, Anita Dunn, Steve Ricchetti, Bruce Reed, Jen O'Malley Dillon, Mike Donilon, Ricchetti Organizations: West Virginia State Capitol, NBC, NBC News, Democratic, Radio City Music Hall, Biden, Biden Victory Fund, DJ, Affordable, Trump, he's Locations: Charleston , West Virginia, New York, New Hampshire
CNBC Daily Open: A key inflation gauge in focus
  + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Yellen on China dumpingU.S. Treasury Secretary Janet Yellen warned that China is dumping its surplus of solar panels and EVs on global markets, distorting market prices. This signals Beijing's latest efforts to boost foreign investment in China as relations with the U.S remain fraught. Investors anxious over a market decline should hedge their positions to limit risk in financial assets, according to fund managers.
Persons: Janet Yellen, Yellen, Xi Jinping, Stephen Schwarzman, Cristiano Amon, Mark Carney, Francis Scott Key, David Neuhauser Organizations: CNBC, Dow, Treasury, U.S, Blackstone, Qualcomm, Bloomberg, Francis Scott Key Bridge, Livermore Partners Locations: Yellen, China, U.S, Baltimore, Port of Baltimore
The S&P 500 was up 0.1% on Thursday, reaching a new record high. The Dow gained 47 points, or 0.1% also hitting a new high. Thursday was the final day of trading for March and the first quarter of 2024, wrapping up an outstanding quarter for US stocks. For the quarter, the S&P 500 is about 10.2% higher, its strongest first quarter since 2019. Tech stocks like Nvidia and the AI-craze have helped drive stocks higher in the first quarter.
Persons: Dow Organizations: New, New York CNN, Nasdaq, Tech, Nvidia, Federal Reserve Locations: New York
“Rhythm and blues and country music are the most parallel types of music,” Singleton has been quoted as saying. “Country music tells a story,” Martell told Rolling Stone. And while Martell recalls receiving two standing ovations that night, the road to country music success was far from smooth. A place in historyMartell’s story may have languished in history were it not for both her country music family and her biological one. “Minority, women and marginalized artists deserve to play on a level playing field in the country music industry,” Thompson told The Tennessean last year.
Persons: CNN — Beyoncé’s, Cowboy Carter ”, Linda Martell, , Beyoncé, , Martell, Thelma Bynem, “ You’d, William “ Duke ” Rayner, Shelby Singleton Jr, ” Singleton, Singleton, ” Martell, Rolling, Jeannie C, Riley, BlackHistoryMonth Martell, Mickey Guyton, Rolling Stone, ” Guyton, “ I’ve, I’ve, , Marquia Thompson, ” Thompson, ” Beyoncé Organizations: CNN, Rolling Stone, Grand Ole Opry, SSS, Records, Country Blues, Tennessean Locations: Texas, South Carolina, Harper, Singleton
CNBC Daily Open: Focus turns to key inflation data
  + stars: | 2024-03-28 | by ( Sumathi Bala | ) www.cnbc.com   time to read: +2 min
Photographer: Christopher Dilts/Bloomberg via Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Xi on China tech progressChinese President Xi Jinping told Dutch Prime Minister Mark Rutte that no force can stop China's tech advance. Separately, Xi also told U.S. executives that bilateral ties can have a "brighter future" and vowed to improve the business environment. The next few days could prove crucial in diverting trade away from the port, logistics executives told CNBC, after a container ship collided into the Francis Scott Key Bridge early Tuesday.
Persons: Christopher Dilts, Topix, Xi, Xi Jinping, Mark Rutte, Janet Yellen, Yellen, Francis Scott Key, David Neuhauser Organizations: Bloomberg, Getty, CNBC, Nikkei, U.S ., CSI, Dow, Nasdaq, Dutch, Xinhua News Agency, U.S, Treasury, Francis Scott Key Bridge, Livermore Partners Locations: Chicago , Illinois, Japan, Seng, China, Beijing, U.S, Baltimore, Port of Baltimore
Robert Mazur tells the full story of his time as a government agent investigating drug-money laundering. Mazur went undercover for the US Drug Enforcement Administration, the Internal Revenue Service intelligence division, and the Customs Service. In Operation C-Chase, Mazur successfully infiltrated the Medellín cartel by posing as a wealthy, mob-connected businessman named Robert Musella. At its peak, the Cali cartel is estimated to have produced 80% of the world's cocaine supply. It was controlled by Gilberto Rodríguez Orejuela, Miguel Rodríguez Orejuela, Pacho Herrera, and José Santacruz Londoño.
Persons: Robert Mazur, Mazur, Robert Musella, Pablo Escobar's, Gonzalo Mora, Roberto Alcaino, Robert Baldasare, Gilberto Rodríguez Orejuela, Miguel Rodríguez Orejuela, Pacho Herrera, Londoño, Bryan Cranston, John Leguizamo, Diane Kruger, B095BKWD8L Read Organizations: US Drug Enforcement Administration, Internal Revenue Service, Customs Service, New York Times, KYC Locations: Italian American, Cali
Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.
Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's
“The tankers and cargo ships of 1950 aren’t the tankers and cargo ships of today,” said James Salmon, a spokesman for the Delaware River and Bay Authority. “It’s going to do a number on them,” he said of a modern ship and the hazard it poses to a bridge like the one in Baltimore. Image The new bridge ship collision protection system project on the Delaware Memorial Bridge will install eight stone-filled “dolphin” cylinders, each measuring 80 feet in diameter. Credit... Delaware River and Bay AuthorityThe situation with the Key Bridge is “unique,” said Jim Tymon, executive director of the American Association of State Highway and Transportation Officials, which represents state transportation departments. A protection system was subsequently built around the new pier.
Persons: , James Salmon, Francis Scott Key, Michael Rubino, don’t, Joseph Ahlstrom, It’s, “ It’s, Dali, hurtled, Jim Tymon, ” John Snyder, Pete Buttigieg, , Paul, Gerald Desmond Bridge, Matt Gresham, Joong Kim, Michael Forsythe Organizations: Bay Authority, Port, SUNY Maritime College, New York State, American Association of State, Transportation, National Transportation Safety, Sunshine Skyway, Administration, Baltimore Sun, Union, National Oceanic, Atmospheric Administration, Liberty University Locations: Delaware, Bay, Baltimore, Port of Los Angeles, . Delaware, Maryland, Tampa Bay, Tampa, U.S, Minnesota, Union Pacific, St, New York, Bayonne, New Jersey, Staten Island, Long Beach, Calif, New Orleans, Mississippi, Port of New Orleans
More than two years later, only four states — Ohio, New York, Pennsylvania and Hawaii — have opened stations funded by the program. The Biden administration says the federal charging program is on track. The grants will fund 47 EV charging stations and related projects in 22 states and Puerto Rico, including 7,500 charging ports. But even some of the government’s own experts say 500,000 public chargers won’t be enough to meet Biden’s ambitious climate goals. The availability of charging stations is key to persuading Americans to buy EVs.
Persons: Liam Sawyer, Sawyer, , Joe Biden, Biden, Shailen Bhatt, , ” Bhatt, “ We’re, , Gabe Klein, Bhatt, Tesla, Mike DeWine, DeWine, Preeti Choudhary, Loren McDonald, you’re, ” ___ Daly, John Organizations: , Ford, Allegheny National Forest, Pilot Travel, Electric Vehicle Infrastructure, Democrat, Transportation, Walmart, Joint Office of Energy, National Renewable Energy Laboratory, Alternative Fuels Data, Energy Department, Associated Press, NORC, for Public Affairs Research, Energy, Institute, University of Chicago ., Republican Gov, Ohio, Department of Transportation, Public Utilities Commission, Locations: Ohio, Indianapolis, Pennsylvania, Columbus , Ohio, London , Ohio, — Ohio, New York , Pennsylvania, Hawaii, U.S, Maine , Vermont, Colorado, Puerto Rico, America, California, Washington, St, Detroit, AP.org
A chapter of Rebel Wilson's memoir is about her claims that Sacha Baron Cohen harassed her on set. AdvertisementRebel Wilson's memoir, "Rebel Rising," features a chapter about her experiences with Sacha Baron Cohen while they were filming the action comedy "The Brothers Grimsby." In 2014, Rebel Wilson said Sacha Baron Cohen asked her to put a finger in his butt while filming a scene for 'The Brothers Grimsby'Rebel Wilson as Dawn and Sacha Baron Cohen as Nobby in "The Brothers Grimsby." Rebel Wilson has been extremely consistent over the past decade in talking about what she experienced with Sacha Baron Cohen. The 'asshole' I am talking about in ONE CHAPTER of my book is: Sacha Baron Cohen."
Persons: Rebel, Sacha Baron Cohen, Wilson, Cohen, , Nobby Butcher, Mark Strong, Nobby's, Dawn Grobham, Rebel Wilson, Dawn, Nobby, Kyle, Jackie O, I'd, Sacha, That's, — Kayleigh Donaldson, He's, they'd Organizations: Service, The, Grimsby, Sony Pictures, Courier, Twitter, Business, SBC Locations: Grimsby, England, Australia, Cape Town
Alaska Air shares just getting started Alaska Air Group has recently broken above a key resistance level and could represent a compelling option for investors searching for stocks earlier on in their uptrends. Alaska remained below that retracement level as well as a declining 200-day moving average until this week. Now we're seeing ALK power above $42 with an initial upside target at the 61.8% retracement level around $47. The momentum characteristics are consistent with bullish phases, with Alaska becoming overbought this week after a quick rise. While overbought conditions could indicate a short-term pullback in the coming weeks, we're inclined to assume this uptrend could be just getting started.
Persons: we've, — David Keller Organizations: Nasdaq, US Global Jets ETF, JETS, Alaska Air Group, Alaska Air, CMT Locations: Alaska
Charlie Lentz has been going to the restaurant in North Carolina for decades, WXII-TV reported. AdvertisementA man in North Carolina who goes to Bojangles every Sunday after church was thrown a surprise party by his local fried chicken spot to celebrate his 105th birthday. Advertisement"This was a big surprise," Lentz, who wore a Bojangles crown at the party, told WXII-TV. "He's very consistent with his order," Spencer told WXII-TV, adding that Lentz's go-to order was its $8 Leg & Thigh two-piece meal, which also comes with two sides and a biscuit. "And a lot of times, before he even gets in the door, the employees have it ready for him," Spencer told the channel.
Persons: Bojangles, Charlie Lentz, Lentz's, , Charlie, Horace Spencer, " Lentz, Lentz, WXII, Bojangles Lentz, Spencer Organizations: Service, NBC Locations: North Carolina, Winston, Salem, Charlotte, Bojangles, Charlotte , North Carolina, Carolinas
More than 40,000 out of well over 70,000 reservations for the Fisker Ocean have been canceled to date, according to internal company metrics viewed by Business Insider. The reservation cancellations pose an issue for the company, representing potential sales slipping away during a time when the company desperately needs to generate more revenue. The company said a reservation "will hold your approximate spot in our order queue to purchase your Fisker EV." Related storiesThe company also has a few thousand order cancellations, according to the data viewed by BI, which are different than reservations and not fully refundable. The Fisker CEO and Danish car designer's previous startup, Fisker Automotive, filed for bankruptcy protection in 2013.
Persons: , Fisker, Henrik Fisker's Organizations: Service, Business, BI, Fisker Automotive
In the wake of Nvidia 's launch of powerful new artificial intelligence chips, Goldman Sachs is predicting major growth for memory chips used in AI systems. Called Blackwell, the new GPU chips from Nvidia that power AI models require the latest third-generation memory chips, also known as high-bandwidth memory (HBM/HBM3E). The investment bank expects the total addressable market for HBM to expand tenfold to $23 billion by 2026, up from just $2.3 billion in 2022. The Wall Street bank sees three major memory makers as prime beneficiaries of the booming HBM market: SK Hynix , Samsung Electronics and Micron . Investors have been cautious about the memory market for AI systems since all three major suppliers are due to expand manufacturing capacity and add downward pressure on profit margins.
Persons: Goldman Sachs, Blackwell, Giuni Lee, Goldman, Peter Lee, Jensen Huang, — CNBC's Michael Bloom Organizations: Nvidia, HBM, SK Hynix, Samsung Electronics, Micron, Investors, Intelligence, Innovation Fund, MU, Goldman, Citi Locations: U.S, Germany
Nvidia stock has soared more than 80% in 2024, as the company continues to benefit from investor excitement over AI. NVDA YTD mountain Nvidia stock. Analysts remain exceedingly bullish on the key AI play, with 88% of those surveyed by FactSet maintaining a buy rating. Moving forward, analysts forecast Micron stock to climb a further 7.3%. MU YTD mountain Micron Technology stock.
Persons: Blackwell, Bob Iger Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Micron Technology, CNBC Pro, Micron, MU, Super, Computer, Disney, Epic Games
Foreign companies exiting Russia over its invasion of Ukraine have amassed losses of $107 billion. Despite thousands pledging to leave, only 372 companies have exited Russia since the war started. At that time, foreign companies leaving Russia had lost over $80 billion in the departure process. Thousands of foreign companies pledged to leave Russia after it started the war in Ukraine. Other than writedowns and lost revenue, departing foreign companies have also been paying huge fees to the Russian government.
Persons: , Vladimir Putin's, Ian Massey Organizations: Service, Reuters, Washington, Moscow . Companies, Kyiv School of Economics, Companies, HSBC, Polymetal International, Kremlin, RBC Daily, Ikea Locations: Russia, Ukraine, writedowns, Moscow
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank's William McChesney Martin building on March 20, 2024 in Washington, DC. His comments come as investors await the release of further U.S. economic data and closely monitor clues from Fed officials about the expected number of interest rate cuts in 2024. Asked on Thursday about the likelihood of one or no Fed interest rate cuts this year, Blitz said that it's "getting pretty good. Blitz said markets will likely continue to march higher, even if the Fed decides not to impose any interest rate cuts this year — a prospect that U.S. asset manager Vanguard named as their base-case scenario. Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, DC, US, on Friday, March 22, 2024.
Persons: Jerome Powell, William McChesney Martin, Chip Somodevilla, Steven Blitz, Blitz, They're, CNBC's, it's, Christopher Waller, Waller, Raphael Bostic, Jerome, Powell Organizations: Bank, Getty, Federal Reserve, TS Lombard, Traders, Fed, Vanguard, Economic, of New, Atlanta Federal Reserve, US Federal Reserve, Bloomberg Locations: Washington ,, U.S, of New York, Atlanta, Washington , DC
Gang violence has killed more than 1,500 people in Haiti so far this year, the United Nations human rights office reported on Thursday, the result of what it described as a “cataclysmic situation” in the country. Corruption, impunity and poor governance, together with increasing levels of gang violence, have brought the Caribbean nation’s state institutions “close to collapse,” the agency said. The U.N. human rights office reported that gang violence had left 1,554 people dead and 826 injured this year, as of March 22, A new report released by the agency described a surge in sexual violence by gang members, including rapes of women, often after having witnessed the killing of their husbands. There is also widespread, deadly vigilantism, with community groups — some calling themselves “self-defense brigades” — attacking people suspected of petty crime or gang affiliation. Last year, 528 people were reported killed in that way, and 59 more so far this year, the U.N. said.
Persons: Organizations: United Nations Locations: Haiti, Caribbean
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