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Analyst Corinne Johnson initiated coverage of the biopharmaceutical stock focused on unique diseases at a buy rating. "Our positive view of the company is based on what we view as multi-blockbuster, first-to-market commercial opportunities ... coupled with the scalable nature of the company's antibody oligonucleotide conjugate platform," Johnson wrote to clients. The first is del-brax, a drug designed to fight facioscapulohumeral muscular dystrophy, or FSHD — which has estimated peak sales of $2.7 billion. The other is del-desiran, a therapy to treat myotonic dystrophy type 1, or DM1 — with a predicted peak sale figure of $4 billion. Shares have soared more than 380% in 2024, reversing course after dropping more than 59% last year.
Persons: Goldman Sachs, Corinne Johnson, Johnson, what's Organizations: Avidity Biosciences, LSEG Locations: Monday's
CNN —The company that built and operated the Titan submersible asked employees to forego their pay as it faced economic challenges, according to former employees testifying before the US Coast Guard panel probing the vessel’s deadly implosion last year. OceanGate employees were asked to “defer our paychecks” at the start of 2023, Amber Bay, the company’s former director of administration, said Tuesday as part of a two-week hearing before the Marine Board of Investigation – the highest level of Coast Guard inquiry. The board is reviewing the cause of the June 2023 implosion during the submersible’s dive to the Titanic, which claimed the life of OceanGate CEO Stockton Rush and four others. Members of the Coast Guard's Titan Submersible Marine Board of Investigation listen during the hearing inside the Charleston County Council Chambers on September 23, 2024, in North Charleston, South Carolina. Lochridge raised safety concerns about the company’s operations, he testified, saying he had “no confidence whatsoever” in how the Titan was built.
Persons: , Amber Bay, , Rush, Phil Brooks, OceanGate’s, Brooks, Laura Bilson, OceanGate, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, David Lochridge, Lochridge, ” Lochridge, CNN’s Ray Sanchez Organizations: CNN, Titan, US Coast Guard, Marine Board, Investigation, Coast Guard, Stockton Rush, Everett, Marine, Chambers, NTSB Locations: Amber, ” Bay, Stockton, Washington, paychecks, OceanGate, Charleston County, North Charleston , South Carolina, Rush
In today's big story, why you should care about a potential Intel-Qualcomm deal , even if it might not work. Getting all that varied experience has proved particularly beneficial for TSMC in the age of cutting-edge mobile and AI chips. The US needs Intel to keep (and get better at) manufacturing chips. The problem with that is that this manufacturing business would have almost no customers, and would fall even further behind TSMC. Experts seem incredibly skeptical about a Qualcomm deal going through.
Persons: , Jamie Dimon, Moneyball, Rupert Murdoch's, Chelsea Jia Feng, I'm, it's, Palantir alums, Jamie Dimon Tom Williams, he's, Goldman Sachs, Chelsea JIa Feng, ChatGPT, Vinod Khosla, Chris Gash, Lachlan Murdoch, Murdoch, Lachlan's, Caroline Ellison, Biden, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Milan Sehmbi, Amanda Yen Organizations: Service, Intel, Qualcomm, Business, Tech, Getty, TSMC, Inc, JPMorgan, Bank of America, Big Tech, Web Services, Employees, Bloomberg Global Business Forum, FAA, OPEC, Oil Locations: Taiwan, China, San Francisco, Nevada, New York, London
Demi Moore gives the wildest performance of her career in French filmmaker Coralie Fargeat's provocative new movie "The Substance." "The Substance" centers on Elisabeth Sparkle (Moore), a former A-lister whose career is on the decline. They can't survive separately because with Elisabeth dead, there's no more stabilizer fluid, and without stabilizer fluid, Sue can't continue to exist. So Sue's body (while she's en route to the big New Year's Eve performance) starts deteriorating: her teeth begin coming out, and a nail pops off. The monster rips down a photo of Elisabeth's younger face and tapes it on, then dolls itself up with carefully placed earrings and some makeup.
Persons: Demi Moore, Coralie, Palme, Fargeat, Moore, , Elisabeth Sparkle, lister, Elisabeth, she's, Harvey, Dennis Quaid, who's, convulses, Margaret Qualley, double's, Sue, Sue doesn't, specter, it's, Christine Tamalet, Elisabeth isn't, Sue wakes, Sue can't, regurgitates Organizations: Service, Cannes Film, Business, Hollywood Locations: Hollywood
Nvidia stock closed 4% higher on a report that CEO Jensen Huang is done selling shares. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNvidia shares climbed as much as 5% on Tuesday as Barron's reported CEO Jensen Huang is done with planned sales of stock. According to an SEC filing from September 18th, the executive holds over 75 million worth of Nvidia common stock; that's aside from another 785 million held through various trusts and partnerships.
Persons: Jensen Huang, Huang, Organizations: Nvidia, Service, SEC, Microsoft
New York CNN —Boeing still has to make “significant changes” to improve the quality and safety of its airplanes, according to the head of the Federal Aviation Administration. “There must be a shift in the company’s safety culture to holistically address its systemic quality assurance and production issues,” he will say, according to his remarks. The incident sparked numerous federal investigations into Boeing, and numerous congressional hearings that raised questions about its quality and safety of its planes. Whitaker is set to say that Boeing must make “significant changes” to address “systemic production quality issues.” And his remarks also promise that the FAA will be more active in oversight of both Boeing and its primary supplier, Spirit AeroSystems, which Boeing is in the process of purchasing. “We have added more safety inspectors in the Boeing and Spirit AeroSystems facilities, and we will maintain our increased on-site presence for the foreseeable future,” he will say, according to his remarks.
Persons: Michael Whitaker, Max, , , Whitaker’s, Whitaker, Joe Buccino Organizations: New, New York CNN, Boeing, Federal Aviation Administration, Alaska Airlines, FAA, Reuters, CNN Locations: New York, Alaska
That's liquid cooling, a cooling technology used in data centers which helps to improve power and cost efficiency. "As air cooling is approaching the limit of its cooling capacity, the importance of liquid cooling is getting increasingly more pronounced … liquid cooling [is] becoming a must-have for GB200," said the bank. Nomura estimates the liquid cooling penetration rate in Nvidia's AI servers is set to rise from 8% in 2024 to 43% in 2025, and 47% in 2026. Liquid cooling systems are the solution to "power shortage pressures" in data centers, Morgan Stanley said in a previous report . Against that backdrop, Jefferies is bullish on four Asian stocks it says will be "key beneficiaries" of the liquid cooling trend.
Persons: Nomura, Morgan Stanley, Jefferies, it's, — CNBC's Michael Bloom Organizations: Nvidia, Nomura, Tech, Jefferies, Nvidia's G200, Micro Computer, Quanta's CDU, Microsoft, Meta, Web Services Locations: Taiwan, Delta
Nvidia is the latest poster child on Wall Street for "10 baggers," stocks that soar in price 10 times. But the AI chipmaker's path to " 10-bagger " status included what is also a typical slump (or two) along the way, according to Trivariate Research. To find the 84 stocks, Parker looked for names with market capitalizations over $2 billion and average daily trading volume of at least $30 million. He then screened for stocks that achieved 10-bagger status, and further culled the list to only those that accomplished the feat in the past 25 years. The chart below contains the names that achieved 10-bagger status most recently, along with information on their drawdowns.
Persons: Morgan Stanley, Adam Parker, Parker, Trivariate, they've, Jensen Huang, Tesla Organizations: Nvidia, Research
Read previewThis as-told-to essay is based on a conversation with Jonathan Sit, a regional general manager for ONE15 Marina. I joined ONE15 Marina at Sentosa Cove Singapore in 2014 as a management associate for two years before becoming regional general manager. You're starting an argument, and members don't want to argue. Don't put wealthy people on a pedestalIt sounds cliché, but the marina industry is a people business, and members want to be treated like humans. Learning a bit about yachting also helps me relate to the members better.
Persons: , Jonathan Sit, It's, I've, it's, they've, we've, They're Organizations: Service, ONE15 Marina, Michelin Star, Business, ONE15, CNBC Locations: Hong Kong, Singapore, Sentosa Cove Singapore, Sentosa
Sonia runs the family's hotel business, turning it into a sprawling collection of resorts and luxury locations. Sonia Cheng, pictured left, is the head of the Rosewood Hotel Group, which owns 51 hotels and is planning more than two dozen others. With Sonia at the helm, Rosewood has since expanded into a global powerhouse for luxury hotels, with 34 locations and another 24 on the way. Rosewood's Hong Kong property ranked second on the World's 50 Best Hotels' 2023 list, with two other hotels in São Paulo and Paris earning spots as well. He's the founder of Altaya Group, a wine wholesaler, and the boutique restaurant company Classified Group, which runs five locations.
Persons: Sonia, Sonia Cheng, Carlyle, Pascal Le Segretain, Thomas Iannaccone, Morgan Stanley, Warburg Pincus, Maritz, It's, Henry, Paulo Pong Kin, Yee Organizations: Rosewood, Group, Fashion, Penske Media, Getty, Harvard University, Warburg, CNBC, Rosewood Hotel Group, Rosewood Corp, Wolff, Channel News Asia, Paris, Altaya Locations: New York City, Rosewood, Manhattan, China, Beijing, Sanya, Shanghai, Shenzhen, Hong Kong, São Paulo, Hong
Read previewThis as-told-to essay is based on a conversation with Robert Doyle, a Walmart store manager in Cibolo, Texas. As a store manager, each day is a little different, but the process is the same. At about 8 o'clock I'll start working with my morning management team, which includes a few coaches and some team leads. The technology is growing so fast and it changes day to day to day, and we're working to stay on top of it. I like to present my store as the best store in town — whatever competitor I have, I've got the best store.
Persons: , Robert Doyle, I've, There's, that's, We've, Dominick Organizations: Service, Walmart, Business, Home Office Locations: Cibolo , Texas, DeLand , Florida, Germany, Florida, Illinois, North Carolina, Pennsylvania, Texas
Read previewSo far, the generative AI race has been about who can build the most powerful models. Almost two years later, there are so many powerful AI models out there, it's no longer that special. Advertisement'Important but not critical'AWS CEO Matt Garman appears to be fine not having a fancy, home-grown AI model. "It'll be important but not critical," Garman said when asked about the importance of offering a top-performing first-party AI model. AGI teamThis doesn't mean Amazon has given up on building its own powerful AI model.
Persons: , Claude, Meta's, Matt Murphy, Anthropic, Murphy, ChatGPT, Patrick Neighorn, Amazon's, Andy Jassy, Matt Garman, Garman, Matt McIlwain, Brent Thill, Jefferies, Thill Organizations: Service, Google, Business, Microsoft, OpenAI, Gemini, Menlo Ventures, AWS, Intuit, Toyota, New York Stock Exchange, BI, Asia, Madrona Venture Group, Amazon Locations: Europe, Middle East, Africa, Asia Pacific, Japan, North America
Nielsen names NBCU top media distributor in August
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNielsen names NBCU top media distributor in AugustNielsen CEO Karthik Rao joins 'Squawk Box' to discuss the company's new report on top media distributors, new ways to measure audiences, TV viewership, and more.
Persons: Karthik Rao Organizations: Nielsen
Microsoft to spend $1.3 billion in Mexico on cloud, AI tech
  + stars: | 2024-09-24 | by ( ) www.cnbc.com   time to read: +1 min
Microsoft CEO Satya Nadella speaks at a company event on artificial intelligence technologies in Jakarta, Indonesia, on April 30, 2024. Microsoft will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia's biggest economy to spur growth. Tech giant Microsoft will invest $1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence, the company announced on Tuesday. "We're doubling down on bringing more capacity to Mexico," Chairman and CEO Satya Nadella said at an event in Mexico City. Microsoft and communications company Viasat are also working to bring the internet to more than 150,000 Mexicans previously without cellular connectivity by the end of 2025, Microsoft said.
Persons: Satya Nadella, Marcelo Ebrard Organizations: Microsoft, Tech, Viasat Locations: Jakarta, Indonesia, Mexico, Mexico City
Helsinki, Finland — Finland will return two giant pandas to China in November, more than eight years ahead of time, as the zoo where they live can no longer afford their upkeep, the chair of the zoo’s board told Reuters on Tuesday. Since its founding in 1949, the People’s Republic of China has sent pandas to foreign zoos to strengthen trading ties, cement foreign relations and boost its international image. The Finnish agreement was for a stay of 15 years, but instead the pandas will soon go into a month-long quarantine before they are shipped back to China, according to Ahtari Zoo, the pandas’ current home. The pandas will soon go into a month-long quarantine before they are shipped back to China. Lehtikuva/Roni Rekomaa/ReutersRising inflation had added to the costs, the zoo said, and Finland’s government in 2023 rejected pleas for state funding.
Persons: Xi Jinping, Ahtari, Risto Sivonen, Roni Rekomaa, Sivonen, ” Sivonen Organizations: Finland —, Reuters, Nordic, Ahtari Zoo Locations: Helsinki, Finland, Finland — Finland, China, People’s Republic of China
New York CNN —Coca-Cola is discontinuing the production of its new Spiced flavor just six months after the soda hit shelves, marking the end of a disappointing attempt to attract younger drinkers. “As part of this strategy, we’re planning to phase out Coca-Cola Spiced to introduce an exciting new flavor in 2025,” a spokesperson said. The short lifespan of Spiced Coke is surprising, because the company promoted it as a permanent flavor. Coca-Cola introduced Spiced Coke in February with a splashy ad campaign. The beverage blended the traditional Coke flavor with raspberry notes.
Persons: , Coke, DJ Marshmello, Sue Lynne Cha, ” Cha, , Coke’s Organizations: New, New York CNN, Dreamworld, North America, , CNN Locations: New York
Twice in my life, I've attempted to retire, and both times, I've been tempted back into full-time work. Both my husband and I had done very well in our jobs, so I was fortunate enough to be able to retire early. By the age of 40, I'd worked my way to the top as a financial planner. AdvertisementDuring my second attempt at retirement, I realized how much I loved working with clientsThen, I really lost my mojo for work. While this adventure was exhilarating, I ultimately realized I missed being at home near loved ones and, most of all, working with clients.
Persons: , Chris Childs, I've, I'd, We'd, wasn't, I'm, David, He'd Organizations: Service, Business, mojo Locations: Australia, Italy, France, England
DJT shares climbed as much as 7% in heavy trading shortly after the opening bell. The upswing followed six straight trading days in the red, which drove Trump Media stock down more than 32%. Stock Chart Icon Stock chart icon Trump Media (DJT) Stock PriceThat dive was just the latest negative stretch in a monthslong slump for Trump Media, which went public in late March after completing a merger with a special purpose acquisition company. Since surging to an intraday peak of $79.38 per share in its Nasdaq debut, Trump Media stock has lost more than 84% of its value. On Monday, the stock fell to its lowest point since before October 2021, when news of a planned merger between Trump Media and the SPAC, Digital World Acquisition Corp., was first made public.
Persons: Donald Trump Organizations: Getty Images Trump Media, Truth, Trump Media, Nasdaq, Trump, Republican
Some Wall Street analysts and money managers see a path to monetization ahead for Apple 's latest artificial intelligence features despite some near-term rollout headwinds. Earlier this month, the technology behemoth debuted its iPhone 16 , incorporating its new AI features known as Apple Intelligence. While including Apple Intelligence as a paid tool may not be on investors' radar, some see a strong case for a future added cost down the road. AAPL YTD mountain Apple shares in 2024 The setup with Apple Intelligence could resemble the company's Apple TV debut, notes CFRA Research analyst Angelo Zino. The portfolio manager also sees an avenue for third-party developers to draw on Apple's AI features to improve their offering.
Persons: Craig Moffett, Moffett, Angelo Zino, Zino, Gene Munster, Apple, OpenAI's, John Belton Organizations: Street, Apple, Apple Intelligence, Meta, Deepwater Asset Management Locations: Europe, China
New York CNN —A year ago, Caroline Ellison was preparing to testify against her former boss and ex-boyfriend in one of the biggest fraud trials in US history. Ellison, who ran Alameda, pleaded guilty to seven federal counts of fraud and conspiracy shortly after FTX’s collapse. A jury last year convicted former crypto billionaire Sam Bankman-Fried on multiple counts of federal fraud and conspiracy. Over three days on the stand, Ellison, who is 29, repeatedly reinforced that throughout her years at Alameda, the buck stopped with Bankman-Fried. While sentencing is entirely up to Judge Kaplan’s discretion, legal experts say it’s highly unlikely Ellison will end up in prison.
Persons: CNN Business ’, Caroline Ellison, she’ll, FTX, Ellison, Sam Bankman, Lewis Kaplan, Ellison’s candor, Angela Weiss, “ Sam, , Dennis Kelleher, , Kaplan’s, Jordan Estes, Kramer Levin, Josh Naftalis, Kaplan, Pallas, Ryan Salame, Nishad Singh, Gary Wang Organizations: CNN Business, New York CNN, Alameda Research, Getty, Better, of, New, Bankman Locations: New York, Alameda, Bankman, of New York
Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022. Novo Nordisk 's top executive is slated to face a Senate grilling on Tuesday over the high prices of the company's weight loss drug Wegovy and diabetes treatment Ozempic, as demand for both injections soars in the U.S.Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.m. It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs the Senate panel, opened an investigation into the Danish drugmaker's pricing practices. Sanders contends that Novo Nordisk charges Americans substantially higher prices for its blockbuster drugs than it does for patients in other countries. Before insurance, Ozempic costs nearly $969 per month and Wegovy costs almost $1,350 per month in the U.S.
Persons: Lars Fruergaard Jørgensen, Sen, Bernie Sanders, Sanders Organizations: Novo Nordisk, Health, Education, Labor, Washington , D.C, Nordisk Locations: New York, U.S, Washington ,, Vermont, Danish, Germany
Telegram said it will share with officials the data of users who violate its policies to commit crimes. The announcement comes one month after CEO Pavel Durov was arrested in France. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTelegram is making some changes to its privacy stance, weeks after CEO Pavel Durov was arrested in France and after years of facing moderation and privacy issues.
Persons: Pavel Durov, , Durov, We've Organizations: Service, Business Locations: France
Starbucks — The coffee house chain moved 1.6% lower after Jefferies downgraded the stock to underperform from hold and cut its price target. BioNTech — U.S.-listed shares of the German biotechnology company rose 2.7% on the heels of a Morgan Stanley upgrade to overweight from equal weight. Pinterest — The image sharing company rose more than 1% after Oppenheimer initiated coverage of the stock with an outperform rating. GE Vernova — Shares gained nearly 1% after Guggenheim initiated coverage of GE Vernova with a buy rating, saying that it is "still in the early stages of a multi-year improvement in profitability." Analyst Joseph Osha's $300 price target implies a roughly 19% increase from Monday's closing price for the stock.
Persons: Jefferies, Piper Sandler, Lowe's, Oppenheimer, Morgan Stanley, BioNTech, Joseph Osha's, , Sarah Min, Michelle Fox, Pia Singh, Sean Conlon, Jesse Pound, Fred Imbert Organizations: Thor Industries, Arlo Technologies, Visa, Bloomberg, Justice Department, Citi, Mastercard, Federal Reserve, GE, Guggenheim Locations: U.S, China,
Oktoberfest is a worldwide phenomenon, a Bavarian beer festival celebrated in countries around the globe. Revelers, dressed in leather lederhosen, celebrate Oktoberfest in Munich on Sept. 21, 2024. A waiter brings beer to a table during Oktoberfest in Munich, Germany on Sept. 22, 2024. The world's biggest beer festival ends on Oct. 6, 2024. A waitress carries a tray of food at the start of the Munich Oktoberfest celebration.
Persons: Johannes Simon, Beer, Kirill Kudryavtsev, Revelers, Ein, driel, Crown Prince Ludwig, Princess Therese von Sachsen, Felix Hörhager, Alexander Hassenstein, Marco Polo, Jeff Dean Organizations: Munich's Department of Labor, Getty, Afp, Oktoberfest Museum, Oktoberfest Locations: Bavarian, Munich, steins, Germany, Hildburghausen, Munich's Beer, Salzburg, Austria, Rothenburg, Hong Kong, Hong Kong Harbour, Cincinnati , Ohio
The best iPhone 16 Plus screen protectors provide lasting protection against scratching and cracking without breaking the bank. Among the best iPhone 16 Pro screen protectors, our favorite is the Zagg Glass Elite screen protector, with its exceptionally durable aluminosilicate glass. For those on a budget, we recommend JETech's screen protector bundle, which includes three tempered glass screen protectors for a low price. AdvertisementWill an iPhone 15 Plus screen protector fit an iPhone 16 Plus? A screen protector meant for the iPhone 15 Plus should fit the iPhone 16 Plus, and vice versa, as the models' displays are the same size.
Persons: we've, Apple Organizations: Business
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