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Ingram Micro began trading Thursday at the NYSE under the symbol INGM, surging as much as 17% from its $22 initial public offering price . Still no signs of IPO life, despite record highs for stocks Unfortunately, Ingram is not going to change the IPO dynamic. Pre-covid, a normal year would see roughly $50 billion raised. Recent large IPOs (amount raised, and gain from IPO price) KinderCare $576 m. +20.7% StandardAero $1.4 b. In 2021, private capital was able to raise record funding for tech companies, which became benchmarks for private valuations.
Persons: Imgram, Ingram, Matt Kennedy, BlackRock, Kennedy Organizations: Ingram Micro, NYSE, Tianjin Tianhai Investment Company, HNA, Equity, KinderCare, Renaissance Capital, HPS Investment Partners Locations: Tianjin, IPOs, China
AdvertisementTesla's earlier Robotaxi unveiling failed to impress investors, despite a surprise Robovan announcement and promises that unsupervised fully autonomous driving would be available in California and Texas next year. After the unveiling, Tesla's stock fell 10%. And the stock increase shows just how much analysts focus on the near-term and Tesla's automotive business, he said. The company also said in its earnings report that production on "more affordable models" remains on track for the first half of 2025. Musk also touted other aspects of Tesla's business, including its energy products and fully autonomous self-driving cars.
Persons: , Tesla, Musk, Piper Sandler, Dan Levy, Gene Munster, Mark Narayan Organizations: Tesla, Service, Elon Musk's, Analysts, Barclays, Deepwater Asset Management, RBC Capital Markets, Optimus Locations: California, Texas
Chinese smartphone company Oppo ranks second in mainland China, and fourth worldwide, according to Canalys. Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone company Oppo is doubling down on artificial intelligence as it holds weekly talks about AI with senior management at Google and Microsoft in the run-up to the launch of its flagship phone overseas. The rise of generative AI — tech that can produce human-like responses when prompted — has companies from Apple to Honeywell rushing to tap its capabilities. AI smartphones set for growthOppo in June announced it plans to integrate generative AI in 50 million of its devices this year. Apple next week is due to publicly release its first software update with AI tools.
Persons: , Billy Zhang, Zhang, Xiaomi, Oppo Organizations: Nurphoto, Getty, Google, Microsoft, Apple, Honeywell, CNBC, Samsung, Tech Locations: China, BEIJING, Shenzhen, Europe, Southeast Asia, U.S
Amid the flurry of partnerships announced on the occasion was a deal between Reliance and Nvidia to build AI infrastructure in India. Nvidia on Thursday announced a slew of partnerships with major Indian firms and launched a Hindi language model, as the American chip company looks to ramp up business in one of the world's biggest technology markets. Nvidia also announced Nemotron-4-Mini-Hindi 4B — a small language model in Hindi, the widest-spoken of India's multitude of languages. Companies running Nvidia hardware can deploy this language model, while Indian IT consultancy Tech Mahindra is using Nvidia's model to launch its own Hindi AI model, Project Indus 2.0. "India is very, very dear to the world's computer industry, central to the IT industry," Huang said.
Persons: Huang, Jensen Huang, Akshay Kumar, Mukesh Ambani, Narendra Modi, Modi, Neil Shah, Shah Organizations: Reliance, Nvidia, Yotta, Tata Communications, Reliance Industries, Companies, Indian, Tech Mahindra, Infosys, Wipro, TCS, Reliance Jio, Ambani's Reliance Industries, Counterpoint Research, CNBC Locations: India, Mumbai, American
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFuture of warfare is convergence of hardware, software, and AI, says L3Harris CEO Chris KubasikAlex Karp, Palantir CEO & co-founder, and Chris Kubasik, L3Harris CEO, joins 'Closing Bell Overtime' to talk the companies' strategic partnership to advance AI in defense.
Persons: Chris Kubasik Alex Karp, Chris Kubasik Organizations: Palantir
Here are Thursday's biggest calls on Wall Street: KeyBanc downgrades Verizon to sector weight from overweight KeyBanc downgraded the telecom provider following earnings. Jefferies initiates California Resources at buy Jefferies says the energy company has a differentiated offering. " TD Cowen reiterates Microsoft as buy The firm recommended Microsoft heading into earnings next week. Bank of America reiterates Amazon as buy Bank of America touted Amazon ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight The firm says it's sticking with top pick Tesla following earnings on Wednesday.
Persons: KeyBanc, Jefferies, Bernstein, ServiceNow, TD Cowen, Wells, Susquehanna, Lisa Su, SRE, Morgan Stanley, Tesla, Rosenblatt, Apple Organizations: Verizon, " Bank of America, IBM, Bank of America, CRC, Facebook, Google, Microsoft, Deutsche Bank, Deutsche, JPMorgan, NextEra Energy Partners, NextEra Energy, AMD, Sempra Energy Locations: California, Regions
Wang is the CEO and cofounder of Scale AI, a data-labeling company valued at $13.8 billion. The company employs contractors to annotate training data essential for developing AI models. The company initially focused on data labeling for autonomous vehicles but has since expanded to power the generative AI boom, working with prominent startups such as OpenAI. Before founding Scale AI, Wang was an algorithm developer at Hudson River Trading and held software-engineering roles at Quora and Addepar. See Business Insider's full AI Power List
Persons: Wang Organizations: Trading Locations: Hudson
S&P 500 futures are muted Thursday night after the broad index ended a three-day negative streak. Futures tied to the broad index added less than 0.1%, as did Nasdaq 100 futures . The Nasdaq Composite joined the S&P 500 in finishing the session in the green, with both lifted by Tesla' s post-earnings rally. A slide in Treasury yields also gave the S&P 500 and Nasdaq upward momentum, according to Megan Horneman, chief investment officer at Verdence. The Dow has fared the worst with a drop of more than 2% as of Thursday's close, while the S&P 500 and Nasdaq have shed 0.9% and 0.4%, respectively.
Persons: Dexcom, Tesla, Elon, Megan Horneman, Horneman, Dow, They'll Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Treasury, IBM, Boeing, Colgate, Palmolive, AutoNation, Newell Brands, University of
CNN —Police are investigating incidents of arson, vandalism and attempted burglary at a historic synagogue in Philadelphia that occurred within hours of each other Tuesday. Surveillance footage released by police shows the suspect standing inside the dumpster, then smoke coming out of the dumpster before it’s engulfed in flames. Then, around 6:30 a.m., two men attempted to break into the synagogue, police say. Philadelphia police are asking the public for help identifying the suspects in the arson and attempted break-in. The synagogue, which refers to itself as the “Synagogue of the American Revolution,” has “deep ties to Philadelphia’s and our nation’s founding,” the statement said.
Persons: haven’t, , Israel, , Brendan Boyle, ” Boyle, CNN’s Josh Campbell Organizations: CNN — Police, Mikveh Israel, Jewish Federation of Greater, Philadelphia Police Department, CNN, KYW, Philadelphia, Defamation, Islamic Relations, Jewish Federation of, Pennsylvania Locations: Philadelphia, Center City, Jewish Federation of Greater Philadelphia, Israel, United States
Dr. Andrea Maier is a health and longevity expert in Singapore who practices what she encourages her patients to do for longevity. Dr. Andrea Maier is a health and longevity expert with nearly 25 years of experience in the field of geroscience, where she studied what aging is and why we age. CNBC Make It interviewed Maier about her personal habits for longevity and what she does to stay happy and healthy. Maier: I think brain health is very underestimated. We also know that for longevity it's important to have and maintain positive relationships in your life.
Persons: Andrea Maier, Maier, she's, it's, That's, It's, I've, Coke, I'm Organizations: CNBC, BBC, New York Times Locations: Singapore, Paris, Berlin
However, slower-than-expected adoption of EVs and higher costs have led it to change course and include extended-range electric vehicles, or EREVs. Scout Terra pickup truck conceptKeogh said Scout added EREVs to better protect the brand from any market volatility amid less-than-expected consumer demand for EVs. Interior of Scout Traveler SUV concept ScoutBoth the Traveler and Terra are expected to start between $50,000 and $60,000 with available incentives, according to Scout. It's larger than Jeep's well-known Wrangler, which is currently available as a plug-in hybrid electric vehicle. Scout Traveler SUV concept
Persons: Scott Keogh, Keogh, Scout, Ford, Stellantis Organizations: Scout, NASHVILLE, — Volkswagen, Scout Motors, CNBC, EV, Lucid, VW, International, American, Ford Bronco, Toyota Land, Ford, General Motors Locations: Tenn, American, U.S, South Carolina, Scout's South Carolina, Canada, U.S ., Nashville , Tennessee
In a Business Insider interview this week, he let loose again, blasting Microsoft's Copilot AI assistant, while touting the Salesforce AI agents that are rolling out soon. In the interview with BI, Benioff focused on Salesforce's continued lead in the CRM market, rather than Microsoft's creeping gains. Generative AI may change CRMGenerative artificial intelligence may be a new challenge to Salesforce and especially its lead in CRM software. He cited CRM software, which replaced the physical Rolodex and helped salespeople keep in better touch with their contacts. It helps companies create their own AI agents to assist with tasks such as customer service and sales.
Persons: , Marc Benioff isn't, Benioff, Copilot, Salesforce's, Rishi Jaluria, salespeople, Salesforce, Jaluria, It's, Morgan Stanley, Einstein, Agentforce Organizations: Microsoft, Salesforce's, Service, IDC, RBC Capital Markets
Finix is a startup that works with merchants so they can accept and manage payments. On Thursday, it raised a $75 million Series C that included Lightspeed Ventures and Acrew Capital. AdvertisementSome of the industry's biggest fintech investors just backed an up-and-coming payments startup challenging Stripe and Square. The San Francisco-based startup raised $75 million in a Series C funding round, the company announced Thursday. AdvertisementFinix processes billions of dollars every month for tens of thousands of merchants, Serna said.
Persons: , Richie Serna, Finix, Serna, " Serna Organizations: Lightspeed Ventures, Acrew, Service, Acrew Capital, Lightspeed Venture Partners Locations: San Francisco, Finix's, Serna
Looking ahead to November, Oppenheimer has updated its top stock ideas list, which features additions such as CarMax , Mastercard and Atlassian . He has an outperform rating on the stock, and his price target implies nearly 26% upside from Wednesday's close. Analyst Ittai Kidron has an outperform rating on the stock, and his $230 target reflects nearly 22% upside, as of Wednesday's close. That implies more than 15% upside from Wednesday's close. Evercore ISI also added Broadcom to its top chip stock picks ahead of its earnings report later in the year.
Persons: Oppenheimer, Michael Wiederhorn, Cigna, Ittai Kidron, Kidron, Atlassian, Morgan Stanley, Rick Schafer, Schafer, Hock Tan Organizations: Dow Jones, Nasdaq, Mastercard, Dick's Sporting Goods, Bloomberg, Humana, Bloomberg News, Broadcom, ISI
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Dow Jones Industrial Average fell modestly, under pressure from declines in Club and Dow stock Honeywell following a mixed quarter and a disappointing sales outlook. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Bonds, Jeff Marks, Jim Cramer's, Jim Organizations: CNBC, Fed, Nasdaq, Lam, Nvidia, Dow Jones, Dow, Honeywell, Jim Cramer's Charitable Locations: Central
Epic is the world's largest provider of software for electronic health records, serving about 40% of US hospitals, including leading institutions such as the Cleveland Clinic, Mayo Clinic, and Massachusetts General Hospital. Rana, who's worked at Epic for 26 years and now serves as its head of research and development, leads all the EHR giant's initiatives across AI — from developing algorithms that predict when a patient might develop certain conditions to summarizing doctors' notes. Rana says Epic has more than 100 generative-AI applications live or in the works. He also oversees Epic's partnerships with healthcare AI companies including Microsoft's Nuance and the startup Abridge. See Business Insider's full AI Power List
Persons: who's, Rana Organizations: Cleveland Clinic, Mayo Clinic, Massachusetts General Hospital, Rana Locations: Massachusetts
Jordan Page was deeply unhappy in his 9-to-5 digital content job at a Fortune 500 company. At the beginning of this job, I'd hardly freelanced, putting all my energy into my new role. With decent pay from the corporate role, I'd saved around £6,000, around $7,800, to live on as I tried to build a career as a writer. But when I told them I'd quit, I could see the shock on their faces. Would I have quit my job if "Brat" hadn't been released?
Persons: Jordan Page, , I'd, Charli XCX, They'd, they'd, Kamala Harris, I've, hadn't, I'm Organizations: Fortune, Service, Brands Locations: California, Turkey
I've been taking 20-hour Amtrak trips for over seven years, so I know which items to pack. A neck pillow and zip-up hoodie will provide some extra comfort and can help you sleep better. AdvertisementA neck pillow and blanket provide some comfortI once made the mistake of not bringing a neck pillow because I thought it would make me look stupid. I've never taken a long train ride without one since. I won't get bored with varied sources of entertainmentI always keep busy with a book or my Nintendo DS on a long train ride.
Persons: I've, , who's, Sam White, White, Sam White There's Organizations: Service, Amtrak, Nintendo DS, Nintendo, Chargers Locations: New York, South Carolina
In the battle of the tech giants, Wall Street firm Bernstein favors Meta Platforms over Alphabet . The analysts raised their Meta price target to $675 per share from $600 and kept their outperform buy rating on the stock. Bernstein acknowledged the valuation of Meta stock versus Alphabet "feels stretched" at the moment. Big picture Bernstein's bullish assessment of Meta's future growth prospects comes as the stock has significantly outperformed both the overall market and Alphabet. META YTD mountain Meta Platforms YTD Before Wednesday's 3% drop in an ugly market, Meta closed Tuesday just 2% off its record close of $595.94 on Oct. 4.
Persons: Bernstein, Meta, Shein, we're, Jim Cramer's, Kamala Harris, Jim, Jim Cramer Organizations: Wall, Google, Meta, Adobe, Facebook, CNBC Locations: Wednesday's, U.S
Earnings growth is falling short of expectations thus far
  + stars: | 2024-10-24 | by ( Brian Evans | ) www.cnbc.com   time to read: +2 min
Corporate earnings are not meeting expectations thus far. Roughly 160 S & P 500 companies have posted third-quarter results thus far, with their bottom lines growing an average of just 2.6%, per FactSet. The blended growth rate, which includes the reports already out and estimates for those on the docket, points to overall S & P 500 earnings growing at 3.4% from the year-earlier period. The S & P 500 rebounded slightly from a three-day slide on Thursday due in part to strong earnings reports. Companies slated to report earnings after the close Thursday include Deckers, Capital One and DexCom.
Persons: Joseph Cusick, " Cusick, Sam Stovall, Stovall Organizations: Calamos Investments, Research, Whirlpool, PayPal, CNBC, Companies, Tech, Amazon, Apple
The summary Three NASA astronauts and a Russian cosmonaut left the International Space Station on Wednesday after weeks of delays. After weeks of delays due to inclement weather, three astronauts and a cosmonaut left the International Space Station on Wednesday, wrapping up an almost eight-month stint in orbit. NASA astronauts Matthew Dominick, Michael Barratt and Jeanette Epps and Russian cosmonaut Alexander Grebenkin departed the space station at 5:05 p.m. Had Crew-8 departed at the original time, that would have left astronauts without a way to get home should an urgent problem arise. Members of the group that departed the space station Wednesday spent their time there conducting research, scientific experiments and assisting with visiting spacecraft, including the problem-plagued Starliner.
Persons: Matthew Dominick, Michael Barratt, Jeanette Epps, Alexander Grebenkin, Hurricane Milton, Dominick, Barratt, Epps, Grebenkin, Butch Wilmore, Sunita Williams —, Nick Hague, Aleksandr Gorbunov —, Williams Organizations: NASA, SpaceX, Kennedy Space, Station Locations: Russian, Milton, Hurricane, Florida, Merritt Island, Fla
President Donald Trump did nothing but show respect to my family & Vanessa. In fact, I voted for President Trump today,” she posted. He said Trump showed the family respect by "standing against the military complex" and supporting the Guillén family. "They didn't want to get to the bottom of the investigation, and President Trump brought awareness to that, and he didn't have to do that," Muniz said. She represents the very best of the Mexican American and Latino community.”
Persons: Donald Trump, Vanessa Guillén, Trump, Mark Meadows, Alex Pfeiffer, Mayra Guillén, , Natalie Khawam, Khawam, Pfeiffer, Guillén, Fort, Vanessa Guillen, Joe Biden, Joaquin Castro, “ Trump, ” Trump, Gonzalo Curiel’s, Curiel, Hurricane Maria, Kamala Harris, Artemio Muniz, Mayra, Muniz, Jason Villalba, he’s, , ’ ”, Villalba, Trumper, ” Villalba, Domingo Garcia, Harris, Garcia, LULAC, Felix Longoria, Hector P, Rep, Sylvia Garcia, Vanessa, ” Garcia Organizations: Trump, Atlantic, White, NBC News, Army, Kabul Gold Star, League of United Latin American, LULAC, The, U.S, District, Trump University, Hurricane, NBC, Federation of Hispanic Republicans, Texas GOP, Texas Hispanic Public Policy Foundation, Republican, American GI, Mexican Locations: Afghanistan, Fort Hood, Cavazos, Texas, U.S, Mexico, Puerto Rico, Mexican American, American, Three Rivers , Texas, South Texas, Mexican
The first call came in at 6:12 p.m.“Gunshots at the Trump rally,” a woman’s voice exclaims. Law enforcement agents gather at the Butler County rally for former President Donald Trump. Anna Moneymaker / Getty ImagesSecret Service agents later thwarted a second apparent assassination attempt on Trump at his golf course in West Palm Beach, Florida, in September. In the aftermath of the Butler rally shooting, local agencies released some police body camera video from the rally, but none of the recordings from 911 calls surrounding the incident had been disclosed before Wednesday. OK.”Following the shooting, Butler County officials initially denied public records requests from news outlets, citing a provision in the state’s Right to Know Law that generally exempts 911 calls from disclosure.
Persons: Donald Trump, “ We’re, “ He’s, it’s, Trump, Jabin, , Thomas Matthew Crooks, rallygoer Corey Comperatore, Jim Copenhaver, David Dutch, countersniper, Kimberly Cheatle, Joe Biden, Anna Moneymaker, Butler, , He’s, , “ There’s, Joy Ramsingh Organizations: Trump, Washington, Getty, NBC News, Service, Secret Service, “ Paramedics, Butler, , NBC, Scripps News, Intercept Locations: Butler, Butler County , Pennsylvania, Butler County, Bethel Park , Pennsylvania, Trump, West Palm Beach , Florida, Allegheny County, North Carolina
Apple on Wednesday released a beta version of a slew of Apple Intelligence features, including its long-awaited ChatGPT integration. The preview included with iOS 18.2 contains:New abilities to describe how the user wants Apple Intelligence to rewrite a chunk of text. At the company’s developer conference, Apple showed how the ChatGPT integration will work. Apple execs have also suggested that other AI models, such as those from Google, may also integrate with Apple Intelligence in the future. Some Apple Intelligence features are already in testing by the public, and will be released next week as part of iOS 18.1.
Persons: Apple, Siri, OpenAI’s chatbot, ChatGPT, Sam Altman, OpenAI, Apple execs Organizations: Apple, Apple Intelligence, ChatGPT, Visual Intelligence, Microsoft, Google, iOS
As part of his efforts leading up to Election Day, former President Donald Trump will address the Asian American and Pacific Islander community at a rally in Nevada on Thursday. Trump will take the stage in Las Vegas alongside former GOP presidential candidate Vivek Ramaswamy and former Rep. Tulsi Gabbard of Hawaii in one of his first events geared toward Asian American communities. Organizers say they aim to bring Asian voters into the conservative movement and convince them Trump is the best choice for them. Exit polling after the 2020 election showed 58% of eligible voters in the community supported Joe Biden, while 40% supported Trump. Progressive Asian American and Pacific Islander leaders take issue with Kirk’s characterization that Asians in the state are aligning with Trump, saying their observation has been the opposite.
Persons: Donald Trump, Trump, Vivek Ramaswamy, Tulsi Gabbard, Charlie Kirk, , Trump’s, Joe Biden, Harris, , Eric Jeng, Steven Cheung, President Trump Organizations: American, Pacific, GOP, Change, Trump, Organizers, Progressive Locations: Pacific Islander, Nevada, Las Vegas, Hawaii, American, APIA Nevada
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