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☆ Gold bars are selling like hot cakes in Korea's convenience stores and vending machines
▼ + stars: | 2024-05-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Aside from ramen and sausages, South Korea's convenience stores have a new popular item on the menu — gold bars. The country's largest convenience store chain, CU, has been collaborating with the Korea Minting and Security Printing Corporation (KOMSCO) to offer customers mini gold bars — and they're selling like hot cakes. A variety of finger-nail sized gold bars weighing between 0.1 gram and 1.87 gram have been up for sale at CU outlets since April. Priced at 113,000 won each, 1 gram bars were sold out within two days, according to local news reports. This was the sharpest quarterly increase in gold purchases in South Korea in more than two years, WGC noted.

Organizations: Printing Corporation, Gold Locations: Korea, South Korea

☆ Nintendo expects to sell 13.5 million Switch consoles this year as it beats profit estimates
▼ + stars: | 2024-05-07 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Nintendo on Tuesday reported quarterly profit that beat market estimates and said it sold more units of its flagship Switch console than it had forecast. Here's how Nintendo did in its fiscal fourth quarter versus LSEG estimates:Revenue: 277.1 billion Japanese yen ($1.8 billion) versus 280.6 billion yen expected. Net profit: 82.6 billion yen versus 57.2 billion yen expected. Earlier this year, Nintendo hiked its forecast for sales of its flagship Switch console to 15.5 million units in its fiscal year ended March. The company said it expects to sell 13.5 million Switch consoles in the fiscal year ended March 2025.

Persons: Mario Organizations: NINTENDO, Universal Studios Hollywood, Nintendo, Investors, Analysts, CNBC, Mario Bros Locations: Universal City , California

☆ Nintendo says Switch successor will be unveiled by March 2025
▼ + stars: | 2024-05-07 | by ( Jerome Taylor | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Nintendo says it plans to announce the followup to its popular Switch console by March 2025. “We will make an announcement about the successor to Nintendo Switch within this fiscal year,” Shuntaro Furukawa, the company’s president, wrote on X on Tuesday. “It will have been over nine years since we announced the existence of Nintendo Switch back in March 2015.”The announcement will be welcome news to fans who have been salivating for years over the prospect of a potential Switch successor, which Nintendo bosses have remained tight lipped about. The company expects to sell 13.5 million Switch units in the current financial year, according to Reuters, compared to sales of 15.7 million units last year. There’s the Nintendo Switch OLED and its rich, immersive screen; the standard Nintendo Switch with its tried-and-true hybrid design; and the cheaper and smaller Nintendo Switch Lite for those who mainly play on the go.

Persons: “, ” Shuntaro Furukawa Organizations: Hong Kong CNN — Nintendo, Nintendo, Reuters, Sony, SONY, Microsoft Locations: Hong Kong

☆ Today's 'pain trade' is a rapidly rising market catching many investors off-guard
▼ + stars: | 2024-05-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

A rapidly rising market has caught a lot of investors off-guard. He loves to watch what he calls the "pain trade," the move in the markets that would catch the largest number of active investors off-guard. Surveying Monday's late-day rally on the floor, Anderson looked up at the NYSE boards and said, "the pain trade is up." The S & P 500 is now within 1.4% of its old closing high of 5,254 from March 28th. The STOXX Europe 600, essentially the S & P 500 of Europe, is also less than 1% below an historic high.

Persons: Tim Anderson, Anderson, It's, Nicholas Colas, DataTrek, Ingersoll Rand, Parker, Hannifin, it's, Alec Young, MAPsignals.com Organizations: MND Partners, NYSE, Nasdaq, Utilities, Reuters, Southern Company, EatoN Corp Locations: Europe, industrials

☆ Goldman is bullish long term on nuclear power and uranium. This stock is a key way to gain exposure
▼ + stars: | 2024-05-06 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

Goldman has raised Cameco's 12-month stock price target by $1 to $56, implying 15.7% upside from Friday's close. CCJ YTD mountain CCJ 3-mo chart "We continue to see CCJ as a key means of gaining exposure to the entire value chain of uranium," Goldman analysts lead by Neil Mehta told clients in a note Monday. Though Cameco's sales of 7.3 million pounds of uranium in the quarter missed guidance of 8.25 million pounds, the company maintained its full-year guidance of 32 million pounds to 34 million pounds. Governments around the world increasingly view nuclear power as a key pillar of the energy transition because the technology can provide reliable carbon-free energy at a time when electricity demand is rising. Western countries are seeking secure supplies of uranium to support a nuclear buildout, rather than relying on Russia or neighboring Kazakhstan.

Persons: Goldman Sachs, Goldman, Cameco, Neil Mehta, Mehta, Joe Biden Organizations: Uranium, The U.S, Senate Locations: Friday's, Canada, Russia, Kazakhstan, The, Russian

☆ Buy stocks in May because inflation is set to plunge through the rest of 2024, Fundstrat's Tom Lee says
▼ + stars: | 2024-05-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

That's because inflation is set to fall "dramatically" through the rest of the year, Lee predicted. AdvertisementInvestors should be buying stocks this month, as inflation is bound for a steep decline for the rest of the year, according to Fundstrat's head of research Tom Lee. Real-time price declines will eventually catch up with the official inflation report. High rates risk tipping the economy into a recession and sparking market volatility, as investors, banks, and consumers grapple with a higher cost of borrowing. It is quite high, and as you know, it's putting a lot of pressure on regional banking ... the cost of money is quite high," Lee said.

Persons: Tom Lee, Lee, —, That's, it'll Organizations: Service, CNBC

☆ Tourism in China surges during May Day holiday but travelers turn frugal
▼ + stars: | 2024-05-06 | by ( Laura He | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —China has reported a surge in tourism during the just concluded Labor Day holiday, but travelers cut back on their spending, in a sign that consumption in world’s second largest economy remains sluggish. That was 28% more than the number of trips taken during the Labor Day holiday period in 2019, which lasted only four days. This year’s Labor Day tourism revenue was 166.89 billion yuan ($23.6 billion), only 13.5% higher than the 2019 level. Passengers at Nanjing Railway Station in East China's Jiangsu province on May 5, the last day of the Labor Day holiday. On Monday, a private sector survey showed that the Caixin/S&P Global services PMI fell to 52.5 in April from 52.7 in the previous month.

Organizations: Hong Kong CNN, Labor, Tourists, Ministry of Culture, Tourism, Passengers, Nanjing Railway, PMI, TD Securities, P Global, National Bureau, Statistics Locations: China, Hong Kong, Nanjing, East China's Jiangsu

☆ Trump’s bombardment of dishonesty: Fact-checking 32 of his false claims to Time
▼ + stars: | 2024-05-04 | by ( Daniel Dale | ) edition.cnn.com time to read: +43 min

We’re paying for close to 100% of NATO.”Facts First: Trump’s claim is false. They don’t pay their bills.”Facts First: Trump’s claim is false. (It rose to about $314 billion in 2020, Trump’s last full year in office.) Facts First: Trump’s claim is false. Facts First: Trump’s claim that “nobody died other than Ashli” is false.

Persons: Donald Trump, Trump, “, William Barr, Bill Barr, Barr, Bill, I’m, ”, it’s, Biden, Joe Biden, Tamar Hermann, Hermann, Bill Clinton, “ Trump, ” Trump, …, National Guard Trump, I’ve, George Floyd, Tim Walz, Walz, Paul —, –, Erwan, George Washington, “ don’t, they’re, Stoltenberg, Trump’s, Lagadec, Marc Lipsitch, Barack Obama, European Union won’t, Cortellessa, “ Moody’s, Moody’s, Mark Zandi, Zandi, ’ ” Zandi, Joe Biden’s, rioter Ashli Babbitt, Brian Sicknick, Sicknick, Trump’s ‘, patriotically, ‘, patriotically ’, ” Nancy Pelosi, Nancy Pelosi, “ Nancy Pelosi, Pelosi, Christopher Miller, Miller, Eric Cortellessa, Alvin Bragg’s, Bragg, Matthew Colangelo, Colangelo, Alvin Bragg, ” Cortellessa, Hillary Clinton, —, Roe, Wade, Kimberly Mutcherson, “ Donald Trump’s, Maya Manian, Mary Ziegler, Davis, Ziegler, Ruth Bader Ginsburg, Roe should’ve, ’, Crime Biden, don’t, “ Biden, he’s, James Biden, Jeff Asher, Asher, It’s, ” “, ” Asher Organizations: Washington CNN, Time, Trump, NATO, Capitol, Trump’s, Trade Center, didn’t, World Trade Center, Department, ISIS, CNN, Democratic, White House, White, South Korea Trump, Pentagon’s Defense Manpower Data, Biden Administration, Congressional Research Service, Israel, Israeli Democracy Institute, National Guard, Minnesota Democratic Gov, Minnesota National Guard, Guard, North Atlantic Treaty Organization, George Washington University’s Elliott School of International Affairs, Transatlantic, for Disease Control, World Bank, Washington Post, Harvard, Harvard’s, National, Trump -, of Health, Human Services, Strategic, Biden, U.S . International Trade Commission, European, Benz, Volkswagen, BMW, European Union, US, European Automobile Manufacturers ’ Association, Bloomberg Economics, US Capitol Police, Capitol Police, “, Republican, Democratic Rep, National Guardsmen, District of Columbia National Guard, Army, Capitol Police Board, Senate, Justice Department, Pulitzer Foundation, Pulitzer, New York Times, Electoral, Democrat, ” Rutgers Law, American University, university’s Health, University of California, ”, Customs, Border Protection, Crime, Manchurian, Republicans, FBI Locations: “, New York City, Saudi, Florida, al Qaeda, New York, Texas, Mexico, South Korea, Trump , South Korea, South, Korea, Israel, Washington, Trump , Minneapolis, Minneapolis, Trump, Minnesota, St, United States, Germany, Brussels, Belgium, Harvard University, China, EU, DC, Trump’s, ”, York, Manhattan, York’s, Russia, That’s

Once the Fed is able to start cutting the federal funds rate, mortgage rates should trend down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-Year Fixed Mortgage Rates Go Down (-0.24%)The average 15-year mortgage rate is 6.24%, 24 basis points lower than last week. Mortgage Refinance Rates30-Year Fixed Refinance Rates Fall Slightly (-0.06%)The average 30-year refinance rate is 7.36%, six basis points lower than last week. Mortgage rates also rose dramatically in 2023, though they started trending back down toward the end of the year.

Persons: Jerome Powell, Powell, you'll, It's, refinance Organizations: of Labor Statistics, Investors, Zillow, FHA Locations: Chevron

☆ Gold set for second weekly fall; U.S. payrolls on investors' radar
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.

Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel

☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ DJT shares plummet more than 10% as hot streak for Trump Media stalls
▼ + stars: | 2024-05-01 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Trump Media shares dropped sharply in morning trading Wednesday, shortly after rising above the $50 per share threshold for the first time in nearly a month. Trump Media, which trades under the DJT ticker, rose by more than 8% in early trading, before dropping by more than 10%. The company, which owns the Truth Social app, has seen its share price increase by more than 50% in the past week. Trump Media in a regulatory disclosure Tuesday confirmed that former President Donald Trump received an extra 36 million shares of the company in a so-called earnout bonus. Trump''s stake in Trump Media now stands at 65% of the company's shares, and is worth $5.7 billion at a share price of $50.

Persons: Donald Trump, Trump Organizations: Trump Media

☆ Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. Starbucks said bad weather dragged its same-store sales lower. Wingstop , Wall Street's favorite restaurant chain, reported its U.S. same-store sales soared 21.6% in the first quarter. This marks the second consecutive quarter that Burger King reported stronger U.S. same-store sales growth than McDonald's.

Persons: It's, McDonald's, it's, Taco Bell, January's snowstorms, we've, Ian Borden, Wall, International's Popeyes, Chris Kempczinski, Laxman Narasimhan, Narasimhan, David Gibbs, Taco, Yum, Burger, – Organizations: Starbucks Workers, D.C, Starbucks, KFC, Yum Brands, Taco, Bureau of Labor Statistics, Taco Bell, Brands Locations: Dupont Circle, Washington, Pizza, U.S, Australia, Canada, Germany, Japan, Taco

☆ Super Micro plummets 15% after posting revenue miss
▼ + stars: | 2024-05-01 | by ( Alex Koller | ) www.cnbc.com time to read: +2 min

The Super Micro Computer logo is seen on a smartphone screen. Super Micro Computer shares plunged 15% on Wednesday after the server company upped its top-line guidance but reported third-quarter revenue that slightly missed estimates. Super Micro hiked its fiscal 2024 revenue forecast to between $14.7 billion and $15.1 billion, exceeding the $14.6 billion expected, per LSEG. Super Micro joined the S&P 500 in March. Also on Tuesday, Wells Fargo analysts, maintaining an equal weight rating on Super Micro stock, dropped their price target from $960 to $890.

Persons: Wells, SMCI, — CNBC's Michael Bloom Organizations: Micro Computer, LSEG, Micro, Dell, Hewlett Packard Enterprise, Nvidia, Bank of America, JPMorgan, Barclays

☆ Stocks making the biggest moves midday: Super Micro Computer, Starbucks, Pfizer and more
▼ + stars: | 2024-05-01 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Super Micro Computer — The server vendor dropped 15% after missing revenue expectations for its fiscal third quarter. However, Super Micro beat analysts' expectations for its adjusted earnings and hiked its revenue guidance for its fiscal 2024 year. Starbucks posted adjusted earnings of 68 cents per share on revenue of $8.56 billion. Pfizer now expects adjusted earnings of $2.15 to $2.35 per share for the full year, higher than its previous forecast of $2.05 to $2.25 per share. Yum Brands — The fast-food giant lost nearly 4% after it reported quarterly adjusted earnings and revenue that missed analysts' expectations.

Persons: Joseph Otting, —, Cowen, Skyworks, SiriusXM, Goldman Sachs, Powell, Estée Lauder —, Estée Lauder, Kraft Heinz, Pinterest's, Alex Harring, Yun Li, Lisa Kailai Han, Hakyung Kim, Michelle Fox Organizations: New York Community Bank, Super Micro, Starbucks, Pfizer, Apple, Amazon Web Services, CVS, Powell Industries, Wall, LSEG, Brands, KFC, Pizza, Taco, JPMorgan Locations: Houston, Taco Bell's

☆ Huawei’s comeback gathers pace as quarterly profit surges
▼ + stars: | 2024-05-01 | by ( ) edition.cnn.com time to read: +2 min

Beijing Reuters —Huawei Technologies’s net profit leapt 564% to 19.65 billion yuan ($2.71 billion) in the first quarter, a regulatory filing by its parent company showed on Tuesday, as it continues to recover from US sanctions. Huawei’s revenue for the quarter to the end of March rose 37% to 178.5 billion yuan, the filing to China’s National Interbank Funding Center showed. It did not break down how business units, such as consumer and smart car components, performed. Apple’s share in the world’s biggest smartphone market fell to 15.7% in the first quarter from 19.7% a year earlier. It has become a force in smart car technology too, with its driver assistance system touted by at least seven Chinese automakers at the Beijing auto show.

Persons: “ digitalization, decarbonization ”, Counterpoint Organizations: Beijing Reuters, Huawei, Apple Locations: Beijing

☆ Once-hot AI play Super Micro is getting crushed, but most analysts are staying bullish
▼ + stars: | 2024-05-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

Super Micro Computer shares are selling off at the moment, but major Wall Street firms are hopeful about the company's long-term prospects. Super Micro, one of the vendors that builds Nvidia-based servers, released quarterly results on Tuesday after market close. Super Micro also bumped up its fiscal 2024 revenue guidance above its previously estimated range and what analysts are expecting. But a revenue miss dragged shares of Super Micro 16% lower on Wednesday. On the other hand, Goldman Sachs and Wells Fargo maintained their neutral-equivalent ratings for shares of Super Micro.

Persons: LSEG, Samik, Chatterjee, Ruplu Bhattacharya, George Wang, Wang, Goldman Sachs, Wells Fargo, Wells, SMCI, Michael Ng, Ng Organizations: Micro Computer, Nvidia, Super, JPMorgan, Barclays, Bank of America, DELL Locations: CY25, East, UAE, Saudi Arabia, Sweden, Japan, Korea, Malaysia

☆ Stocks making the biggest moves premarket: Pfizer, CVS, Amazon, Starbucks and more
▼ + stars: | 2024-05-01 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

Pfizer — Shares climbed more than 2% after New York City-based Pfizer beat Wall Street's first-quarter revenue forecast and raised its full-year profit guidance. CVS expects adjusted earnings of at least $7 per share for 2024, down from previous guidance of $8.30 per share. Analysts were expecting $8.28 per share, according to LSEG. A second-quarter revenue forecast also surpassed expectations, with Pinterest forecasting sales of $830 million to $850 million vs an LSEG consensus estimate of $827 million. Fiscal third-quarter revenue of $3.85 billion missed the Street's consensus estimate of $3.95 billion, according to LSEG.

Persons: Wall, Marriott, Estée Lauder, Estee Lauder, LSEG –, Kraft Heinz —, Powell, Macheel, Alex Harring, Sarah Min, Michelle Fox Organizations: Pfizer —, New, Pfizer, CVS, Marriott, LSEG, Starbucks, AMD —, AMD, Yum, KFC, Taco Bell, Powell Industries Locations: New York City, LSEG, Houston

☆ Stocks making the biggest moves after hours: Amazon, Starbucks, Pinterest, Advanced Micro Devices and more
▼ + stars: | 2024-04-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Amazon posted earnings of 98 cents per share on $143.31 billion in revenue. Analysts surveyed by LSEG had forecast earnings of 83 cents per share on $142.5 billion in revenue. However, the company's second-quarter revenue forecast was shy of estimates. It forecast revenue for the current quarter in line with the analyst forecast of $5.70 billion. Pinterest reported adjusted earnings of 20 cents per share, topping forecasts for 13 cents per share, according to LSEG.

Persons: LSEG, Pinterest, Mondelez, —, Sarah Min, Brian Evans, Alex Harring, Darla Mercado, Tanaya Macheel Organizations: Starbucks, Computer, Chesapeake Energy, Caesars Entertainment, Caesars, Revenue, Diamondback Energy Locations: LSEG

☆ Yen clings to sharp gains after suspected intervention, Fed in focus
▼ + stars: | 2024-04-30 | by ( ) www.cnbc.com time to read: +3 min

The yen held its line against the dollar on Tuesday after making sharp gains the previous day in moves that traders said were sparked by suspected intervention by Japanese authorities. "There is clearly a possibility that the sharp and sudden lifts in the JPY were sparked by intervention. Official figures that would reveal whether intervention did in fact occur won't be available until late May. The Japanese currency still sits lower than it was before the Bank of Japan's policy announcement last week. The Fed is expected to strike a hawkish message, meaning more yen selling is likely, CBA's Kong said.

Persons: haven't, Masato Kanda, Carol Kong, bode, CBA's Kong, pare, Sterling, bitcoin Organizations: Federal, Commonwealth Bank of Australia, Trading, Markets, Bank of, Fed, Traders, European Central Bank Locations: Buenos Aires, Argentina, Tokyo, Asia, Japan, U.S, Bank of England

☆ We're raising our Amazon price target, betting light guidance proves conservative
▼ + stars: | 2024-04-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Amazon Why we own it : Amazon may be widely known for online shopping, but its cloud business is the real breadwinner. While an International e-commerce sales increase of 10% to $31.94 billion missed estimates, the segment saw $903 million in operating income. Guidance Amazon expects second-quarter net sales to be between $144 billion to $149 billion, growing 7% to 11% year over year. However, thanks to disciplined cost management, operating income guidance is expected to come in much closer to the mark at $10 billion to $14 billion versus $12.73 billion expected. The midpoint of the sales and operating income estimates point to an operating margin target of 8.2%, which compares with an 8.5% estimate for the second quarter.

Persons: it's, Andy Jassy, Jassy, we're, That's, Jim Cramer's, Jim Cramer, Jim, CNBC's Andrew Ross Sorkin Organizations: Amazon, LSEG, Walmart, Target, Microsoft, Services, Web Services, CNBC Locations: Amazon, America, North America

☆ Super Micro pushes up full-year revenue forecast as it points to strong AI demand
▼ + stars: | 2024-04-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Lisa Su, chair and CEO of Advanced Micro Devices, left, and Charles Liang, CEO of Super Micro Computer, speak at the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023. Notwithstanding the after-hours move, Super Micro stock is up 205% so far this year, while the S&P 500 stock index has gained 6%. If not for a key component shortage, Super Micro would have delivered more during the quarter, Liang said on a conference call with analysts. In March, Super Micro took the place of Whirlpool in the S&P 500. Reddit, GameStop and Super Micro surge

Persons: Lisa Su, Charles Liang, LSEG, Liang Organizations: Devices, Super Micro Computer, AMD, Super, Hewlett Packard Enterprise, Super Micro, Whirlpool, GameStop Locations: San Jose , California

☆ AMD's data center business grew 80% but the stock is down
▼ + stars: | 2024-04-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

AMD reported first-quarter earnings and sales on Tuesday that were slightly ahead of Wall Street expectations, and provided an in-line forecast for the current quarter. AMD said its closely-watched Data Center segment grew 80% on a year-over-year basis to $2.3 billion thanks to sales of its MI300 AI chip, which competes with Nvidia's AI graphics processors. AMD said it had sold over $1 billion of the AI chips since it launched in the fourth quarter of 2023. AMD also makes central processors which are often paired with advanced AI chips in servers. AMD reported $1.4 billion in first-quarter sales, a 85% annual increase, suggesting that last year's PC slump is over.

Persons: Lisa Su, Su Organizations: AMD, Wall, Revenue, Intel Locations: Las Vegas , Nevada, U.S

☆ Amazon reports earnings after the bell. Here's what Wall Street is watching
▼ + stars: | 2024-04-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

Amazon 's earnings report on Tuesday evening will give investors insight into two of the biggest stories on Wall Street — the resilient U.S. consumer and the artificial intelligence boom. Wall Street is generally optimistic about Amazon, as more than 90% of analysts have a buy or strong buy rating on the stock, according to LSEG. Several other tech companies, including Alphabet , have already reported strong advertising numbers for the first quarter. "We increase our Amazon advertising outlook following the impressive 2H23 performance and encouraging industry checks. On a ~55% margin, Advertising [earnings before interest and taxes] moves from $26B in FY23 to $41B in FY26," MoffettNathanson analyst Michael Morton said in an April 22 note.

Persons: Stephen Ju, Brian Pitz, Pitz, Michael Morton, Amazon's, Morton, MoffettNathanson, Ju, — CNBC's Michael Bloom Organizations: Amazon, Services, AWS, UBS, prem, BMO

☆ DJT: Trump receives 36 million shares of Trump Media worth $1.8 billion as earnout bonus
▼ + stars: | 2024-04-30 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +1 min

Republican presidential candidate and former U.S. President Donald Trump gestures as he arrives to Trump tower during the day of his trial over charges that he falsified business records to conceal money paid to silence porn star Stormy Daniels in 2016, in New York City, U.S. , April 19, 2024. Former President Donald Trump received 36 million more shares of Trump Media Technology Group on Friday, according to a newly filed disclosure Tuesday with the Securities and Exchange Commission. The shares were part of a contractual "earnout bonus" that Trump's eponymous media company agreed to shortly before it went public in March. At Tuesday's closing price of $49.93, Trump's newly awarded shares were worth around $1.8 billion, although he is prohibited from selling them until a six-month lockup period expires. The additional shares bring Trump's total in the newly public company to 114,750,000.

Persons: Donald Trump, Stormy Daniels, Trump's Organizations: Trump Media Technology Group, Securities and Exchange Commission, Trump, Nasdaq Locations: Trump, New York City, U.S

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