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The company posted earnings of $1.88 per share, excluding items, on revenue of $52.28 billion. Analysts polled by FactSet called for adjusted earnings per share of $1.62 on revenue of $50.90 billion. Intel — Shares popped 9% after the chipmaker topped third-quarter earnings estimates and shared upbeat quarterly guidance. The company posted adjusted earnings of 17 cents per share on $13.28 billion in revenue. Chevron also returned a record of more than $7 billion to shareholders in the quarter through buybacks and dividends.
Persons: Health —, Cardinal, FactSet, Atlassian, Donald Trump, Ernst, Ernst & Young, Avis, , Alex Harring, Brian Evans, Michelle Fox Theobald, Sean Conlon, Samantha Subin Organizations: Health, Boeing —, Intel, Amazon, Web Services, Apple —, Trump Media & Technology Group, Communications, Abbott Laboratories, Abbott, Ernst &, Avis Budget, LSEG, Chevron Locations: Europe, buybacks
CNN —A headset worn at home that zaps the brain with the energy of a 9-volt battery could help relieve symptoms of depression, a new study shows. Rebalancing brain activity in depressionThe device is available in the UK, Norway, Hong Kong and countries in the EU. Studies show that people with depression tend to have less brain activity than normal in the dorsolateral prefrontal cortex and more brain activity than normal in the ventromedial prefrontal cortex. A ‘spicy’ sensation with brain benefitsLeana De Hoyos, a 34-year-old mother of two who lives in Houston, was one of the study participants. Helping people use brain stimulation at homeFu says that when her team started looking at transcranial direct current stimulation for depression, they first reviewed the medical literature.
Persons: , Rodrigo Machado, Vieira, Machado, It’s, it’s overactive, Daniel Mansson, Cynthia Fu, Fu, Leana De Hoyos, De Hoyos, didn’t, ” De Hoyos, I’m, you’ve, , , ” Fu, Dr, Sanjay Gupta, “ We’re, Mansson, hasn’t Organizations: CNN, Nature Medicine, Therapeutics, US Food and Drug Administration, Neuroscience, King’s College London, CNN Health, Locations: UTHealth, Norway, Hong Kong, Swedish, United States, Houston, Europe
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEveryday investors buy Trump Media & Technology Group shares ahead of Election DayCNBC's Alex Harring reports on the spike in net inflows for Trump Media & Technology ahead of the 2024 presidential election.
Persons: Alex Harring Organizations: Trump Media & Technology Group, Trump Media & Technology
The Chinese EV giant said in its third-quarter earnings on Wednesday it had surpassed Tesla's revenues from EV sales for the first time. Executives have said they want half of BYD's sales to come from abroad in the future. Unlike its rival, Tesla, BYD also offers a selection of hybrid vehicles, which are popular in China. Some 311,000 of the 500,000 passenger vehicles BYD sold in October were hybrids, with hybrid sales rising by 62% year-on-year. JADE GAO/AFP via Getty ImagesBYD has sold nearly two million hybrid vehicles this year.
Persons: BYD, Elon Musk, , Tesla, Elon, GAO, Dylan Khoo, Stella Li, MotorTrend, Axel Schmidt, David Bailey Organizations: EV, Service, BYD, Getty, Mercedes, BMW, China, ABI Research, University of Birmingham Locations: China, Costfoto, Mexico, Brazil, Americas
CNN —Former President Donald Trump’s social media stock is plunging just ahead of the election, cutting deeply into his net worth. Truth Social owner Trump Media & Technology Group’s share price plunged another 9% on Friday after tumbling 12% Thursday and 22% Wednesday — Trump Media’s worst one-day loss since going public in March. Trump Media’s shares, which trade under the ticker “DJT,” have become a proxy for how traders think the presidential election will turn out. Trump Media did not release any major news that would explain the nosedive. The enormous gains boosted Trump Media’s value to $10.3 billion as of Tuesday’s close.
Persons: Donald Trump’s, , Trump, Kamala Harris, , Steve Sosnick, ” Sosnick, George Kailas, he’s, ” Kailas, Organizations: CNN, Truth Social, Trump Media & Technology, Trump, Trump Media’s, Interactive Brokers, Trump Media, ” Trump, Elon Musk, Similarweb, CBS, Paramount Global
AdvertisementChina is developing military space gear at a "mind-boggling" pace, according to the US Space Force chief. "The number of different categories of space weapons that [China has] created and . In an interview with Politico, Saltzman added that China's progress in military space technology posed a bigger challenge than possible Russian nuclear weapons in orbit. "For the first time in decades, US leadership in space and space technology is being challenged," Meink added. As the FT notes, the US space defense capabilities are heavily reliant on private companies, such as SpaceX.
Persons: Chance Saltzman, , Saltzman, Xi Jinping, Bill Nelson, Troy Meink, Space.com, Meink, Arthur Herman, John F, Kennedy, Ronald Reagan, we've Organizations: SpaceX, Service, US Space Force, Financial Times, Politico, NASA, UN, National Reconnaissance Office, Asia Pacific Foundation of Canada, Hudson Institute Locations: China, Colorado, Russia
Dubbed the Iron Beam, the shield aims to use high-power lasers to counter an array of projectiles, including missiles, drones, rockets and mortars, Israel’s defense ministry said this week. “The initial capability of the ground-based laser system… is expected to enter operational service within one year,” he said. Israel first unveiled a prototype of the Iron Beam in 2021 and has since been working to get it up and running. From Social MediaIt is unclear if Iran has developed a laser defense system of its own. Experts say the Iron Beam could also act as a deterrent to further attacks by Iran or its proxies.
Persons: ” Eyal Zamir, , Israel, Benjamin Netanyahu’s beachside, Yehoshua Kalisky, Rafael, Naftali Bennett, ” Sascha Bruchmann, Kalisky, Benjamin Netanyahu's, Hunter, Bruchmann, Israel “, ” Bruchmann Organizations: CNN, Rafael, Defense Systems, Elbit Systems, Israel’s, Institute for National Security Studies, Israel Defense Forces, Rafael Advanced Defense Systems, , Institute for Strategic Studies, US Navy, Pentagon, New York Times, Hamas, Times . CNN Locations: Iran, Israel, Gaza, Lebanon, Yemen, Syria, Iraq, Caesarea, Lebanese, Tel Aviv, London, United Kingdom, China, Russia
Greater China is a key market for Apple, with new AI features expected to roll out in April. It also rolled out its highly-anticipated Apple Intelligence software in the US in English on Monday. While consumers may be buying the newest iPhones in Greater China, they'll have to wait until April for Apple Intelligence to launch in Chinese, however. However, competition is stiff, and Apple Intelligence still needs time to prove itself. It'll take months to know for certain if AI can move the needle for Apple in Greater China.
Persons: Apple, , Tim Cook, Jacob Bourne, It'll Organizations: Apple, Baidu, Service, Apple Intelligence, Huawei, Xiaomi, Business, Wedbush Securities Locations: Greater China, China, EMARKETER
CNN —Talented though they may be, monkeys will never type out the complete works of William Shakespeare, or even a short book, a new study suggests. The Infinite Monkey Theorem is a famous thought experiment that states that a monkey pressing random keys on a typewriter would eventually reproduce the works of the Bard if given an infinite amount of time and/or if there were an infinite number of monkeys. However, in the study published in the peer-reviewed journal Franklin Open, two mathematicians from Australia’s University of Technology Sydney have rejected this theorem as “misleading” within the confines of our finite universe. They challenged it by looking at the Finite Monkeys Theorem, in which there is a finite amount of time and a finite number of monkeys. “By the time you’re at the scale of a full book, you’re billions of billions of times less likely,” he continued.
Persons: William Shakespeare, Bard, Stephen Woodcock, , Woodcock, Jay Falletta, George, ” Woodcock, Chris Banerji, Alan Turing, Banerji, ’ ”, Bard ‘ Organizations: CNN, Franklin, Australia’s University of Technology Sydney, University of Technology, Alan, Locations: University of Technology Sydney, London
Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street's estimates. Chevron topped Wall Street's third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion.
Persons: Atlassian, FactSet, Abbott, Ernst, Young, Wall, LSEG, , Jesse Pound, Sean Conlon, Pia Singh, Sarah Min Organizations: Amazon Web Services, Apple —, Intel —, LSEG, Abbott, Boeing —, . Avis Budget, Chevron, Exxon Mobil —, Exxon, Juniper Networks, Hewlett Packard Enterprise Locations: Europe, Missouri
The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.
Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs
An Intel employee raised concerns about the upcoming US election's impact on CHIPS Act funding. Intel invested billions in US factories but hasn't received CHIPS Act grants yet. AdvertisementIntel CEO Pat Gelsinger addressed an employee-submitted question about whether the upcoming US election would affect Intel's CHIPS and Science Act funding at an all-hands meeting on Friday. He also addressed the delay of CHIPS Act funding distribution. Government leaders are also monitoring the CHIPS Act funding delays.
Persons: hasn't, Dow Jones, , Pat Gelsinger, Gelsinger, I've, Semafor, Mike DeWine, Stephen Ezell, Kamala Harris, Donald Trump, Dow, maniacally Organizations: Intel, Nvidia, Dow, Service, US Commerce Department, Bank, Bloomberg, Congress, Government, White, Information Technology, Innovation Foundation, Life Sciences, Dow Jones Locations: New Mexico , Arizona , Ohio, Oregon, Washington ,, Ohio, New Albany
But the true implications for investors monitoring the election may lie in which party controls Congress, rather than who will sit in the White House. .SPX YTD mountain S & P 500 The importance of whichever party controls Congress was highlighted by Trump's recent trips outside battleground states such as New Mexico , a state that hasn't voted for a GOP presidential nominee in roughly 20 years. On the other hand, Evercore ISI's Emanuel expects a Harris victory, with a Democratic sweep of Congress, could result in the S & P 500 falling to roughly 5,700. The S & P 500 slid 1%, while the Nasdaq dipped 0.5%. Earnings season continues with about 100 S & P 500 companies confirmed to report.
Persons: Donald Trump, Kamala Harris, Trump, Nanette Abuhoff Jacobson, I'm, Abuhoff Jacobson, hasn't, Brian Burrell, Jay Hatfield, Harris, Hatfield, Evercore ISI's Julian Emanuel, Evercore ISI's Emanuel, Jerome Powell's, Ralph Lauren, Warner, Alex Harring Organizations: NBC, Congress, House, Democratic, Republican, Hartford Investments, GOP, Thornburg Investment Management, Infrastructure Capital Advisors, Senate, Wednesday, Regional Banking, Treasury, Federal Reserve, Dow Jones, Nasdaq, National, Marriott International, Diamondback Energy, Wynn Resorts, Palantir Technologies, NXP Semiconductors, PMI, PMI Services, Services PMI, Petroleum, Brands, Technology, Computer, CVS, Howmet Aerospace, Gilead Sciences, Labor, Consumer, Moderna, Molson Coors Beverage, Halliburton, Hershey Co, Warner Bros, Expedia, Akamai Technologies, Paramount Locations: New Mexico, Albuquerque, Santa Fe , New Mexico, Hartford, Albemarle, Qualcomm, Michigan
Salesforce CEO Marc Benioff attends the TIME100 Gala at Jazz at Lincoln Center in New York on April 26, 2023. The Greek media company Antenna Group is in talks to acquire Time from Salesforce co-founder Marc Benioff, according to people familiar with the matter. "There is no agreement to sell Time," said a Time spokesperson, who declined to comment on the talks with Antenna. An Antenna Group spokesperson didn't respond for comment. The Antenna Group nearly acquired Vice Media in 2022 before the company declared bankruptcy.
Persons: Marc Benioff, didn't, Benioff, Jeff Bezos, Lynne, Alan Murray Organizations: Jazz, Lincoln Center, Antenna, Comcast, Washington Post, U.S, NPR, Meredith Corp, Time Inc, Meredith, Media, Arianna, CNBC Locations: New York, Europe, Arianna Huffington's
Voyager 1 is now using a radio transmitter it hasn’t relied on since 1981 to stay in contact with its team on Earth while engineers work to understand what went wrong. NASA's Voyager 1 spacecraft is depicted in this artist's concept traveling through interstellar space, or the space between stars, which it entered in 2012. Voyager 1 has been using one of its two radio transmitters, called an X-band based on the frequency it utilizes, for decades. In the meantime, engineers sent a message to Voyager 1 on October 22 to check that the S-band transmitter was working and received confirmation on October 24. “The S-band signal is too weak to use long term,” Waggoner said.
Persons: Bruce Waggoner, hasn’t, Waggoner, it’s, ” Waggoner Organizations: CNN, NASA, JPL, Caltech, Jet Propulsion Laboratory, Space, Network, Engineers, Space Network Locations: Pasadena , California
Shifting to a skills-first hiring approach diversifies talent pools and improves job matching, helping find the best candidates for the job. AI tools like Indeed Smart Sourcing can help put the focus on candidates' skills to streamline sourcing and reduce hiring time. Amid rapid technological advancement across industries, employers' hiring needs are changing, requiring them to bring the right talent on board quickly. The skills-first hiring approach can also ultimately help employers reduce both the time and costs associated with hiring, especially when supported by AI. As hiring needs continue to evolve, making the hiring process easier with AI helps companies better plan and staff for the future.
Persons: Donal McMahon, Chris Hyams Organizations: Employers, Harvard, Insider Studios
AdvertisementThe days of European carmakers dominating China's luxury vehicle market are over. A study by AlixPartners found that Chinese automakers released 40 over-the-air software updates between March 2023 and February this year, compared with just two from legacy automakers. AdvertisementHard to quitDespite a challenging environment, Western premium automakers can ill afford to give up on China. As well as increased competition, European automakers face a geopolitical headache. AdvertisementTim Urquhart, principal automotive analyst at S&P Global Mobility, told BI the European Union's tariffs on Chinese automakers meant Beijing could impose levies on European car imports in retaliation.
Persons: , Aston Martin, James Bond, Chris Brownridge, BYD, Lutz Meschke, Max, Xiaomi, Steve Dyer, Dyer, AlixPartners, Mercedes, GAO, China's, Tim Urquhart, Urquhart Organizations: BMW, Mercedes, Benz, Porsche, Service, upstarts, Volkswagen, Royce, British, Bloomberg, Reuters, Getty, P Global Mobility Locations: China, British, London, Korea, Western Europe, Beijing
Decisions I would normally agonize over, like travel logistics or whether to scuttle dinner plans because my mother-in-law wants to visit, A.I. Letting your mother-in-law cook can be a great idea, especially if she enjoys it and it gives you a break. And it made good decisions, such as advising me to be nice to my mother-in-law and accept her offer to cook for us. (Generative A.I. Just as we’ve outsourced our sense of direction to mapping apps, and our ability to recall facts to search engines, this explosion of A.I.
Persons: ChatGPT, I’d, couldn’t, Taupe ”, Chive, didn’t, Ms, Jang, , Judith Donath, Harvard’s Berkman Klein, , it’s, Donath Organizations: Harvard’s Berkman Klein Center, chum, The New York Times, OpenAI, Microsoft Locations: A.I, Olive, OpenAI
The outcome of the U.S. presidential election on Nov. 5 won't affect oil production levels in the short- to medium term, Exxon CEO Darren Woods told CNBC on Friday. Former President Donald Trump has called for unconstrained oil and gas production to lower energy prices and fight inflation, boiling his energy policy down to three words on the campaign trail: "Drill, baby, drill." "I'm not sure how drill, baby, drill translates into policy," Woods told CNBC's "Squawk Box" Friday after the largest U.S. oil and gas company reported third-quarter results. Woods said U.S. shale production does not face constraints from "external restrictions." The U.S. has produced record amounts of oil and gas during the Biden administration.
Persons: Darren Woods, Donald Trump, Woods, CNBC's, Biden, Wood Organizations: U.S, Exxon, CNBC, Energy Information Administration Locations: U.S, Saudi Arabia, Russia, of Mexico
Given the uncertainty surrounding the election next week and some mixed mega-cap technology earnings this week, I want to book some 2024 chip stock profits. I want to hedge my exposure by owning put options in the high-flying VanEck Semiconductor ETF (SMH) . SMH YTD mountain VanEck Semiconductor ETF, YTD Risk can happen fast. Nonetheless, I'm looking to hedge given the big gains this year for the market and tech. This is downside risk mitigation and in the event this trade doesn't pay off, the Big tech exposure I have in my portfolio will continue to create 2024 gains.
Persons: SMH Organizations: VanEck Semiconductor, Semiconductor, Nasdaq, Boeing, CNBC, NBC UNIVERSAL
New York Attorney General Letitia James speaks during a press conference at the Office of the Attorney General in New York on February 16, 2024. With four days until the presidential election, U.S. government officials are cautioning against reliance on artificial intelligence chatbots for voting-related information. "Study after study has shown examples of AI chatbots hallucinating information about polling locations, accessibility of voting and permissible ways to cast your vote." "We agree with the NY Attorney General that voters should consult official channels to understand where, when, and how to vote," an Anthropic spokesperson told CNBC. "For specific election and voting information, we direct users to authoritative sources as Claude is not trained frequently enough to provide real-time information about specific elections."
Persons: Letitia James, Donald Trump, Kamala Harris, James, It's, Alexandra Reeve Givens, chatbots, Claude, OpenAI, ChatGPT, it's Organizations: New, New York, Republican, Democratic, Center for Democracy & Technology, CNBC, Google, NY Locations: New York, U.S, Mistral
Dominion Energy is talking with other tech companies about developing small modular nuclear reactors, after the Virginia utility entered into an agreement with Amazon last month to look at advancing the next-generation technology. Tech companies are investing in nuclear power as they hunt for carbon-free, reliable electricity to support the growing energy needs of artificial intelligence data centers. Alphabet 's Google agreed last month to purchase power from the startup Kairos Power, a developer of small modular reactors. Small modular reactors promise to reduce capital costs and speed the deployment of nuclear plants. There is no operating small modular reactor in the U.S. right now.
Persons: Robert Blue, Blue, It's, we've Organizations: Dominion Energy, Amazon, Dominion, Tech, Talen Energy, Susquehanna, Microsoft, Constellation Energy, Google Locations: Saint Paul , Virginia, Virginia, Louisa County , Virginia, Virginia . Virginia, Pennsylvania, U.S
CNN —In the closely watched battleground state of Michigan, election officials are under the microscope, with isolated mistakes or missteps serving as fodder for election deniers to lay the groundwork for widespread doubt of election results. Some of the confusion appears to have originated from a post on X by Matthew DePerno, one of the more high-profile election deniers in Michigan. DePerno has pleaded not guilty in the voting machines case. When it does happen, we take it extremely seriously,” Michigan Secretary of State Jocelyn Benson and Washtenaw County Prosecutor Eli Savit said in a statement. Despite the recent challenges, election officials in Michigan say they are confident that they are prepared to withstand efforts to undermine confidence in the results.
Persons: Lawrence Kestenbaum, , Matthew DePerno, DePerno, Donald Trump, Lara Trump, Jocelyn Benson, , Ben Decker, Eli Savit, can’t, Kestenbaum, David Becker, Benson, Elon Musk, Dominion “, Joe Biden’s, ” he’s, ” Kestenbaum, Kylie Atwood Organizations: CNN, GOP, Republican National Committee, Democrat, Trump, Pundit, University of Michigan, Authorities, Department, Election Innovation, Research, Investigations, Michigan, Tech, Benson, The Michigan Department of State, of, “ Dominion, Dominion Locations: Michigan, Washtenaw County, Ann Arbor, of Michigan, Barry County , Michigan
Wall Street analysts think Amazon is only at the beginning of a new era of growth. Here's what analysts at some of the biggest shops on Wall Street are saying about Amazon's latest earnings report. His $250 per share price target implies more than 34% upside from Thursday's close. "Another margin upside surprise supports our retail margin efficiency upside thesis, while AWS is still in the early innings of a big AI cycle and is investing accordingly," Post said. The analyst also increased his 2025 full-year earnings per share forecast by roughly 4%.
Persons: Doug Anmuth, Anmuth, Justin Post, Lee Horowitz, " Horowitz, Ronald Josey's, Josey Organizations: Web Services, JPMorgan, Bank of America, Deutsche Bank, Citi
Fast-food chains and retailers are using loyalty programs to drive sales amid inflation challenges. AdvertisementRetailers and fast-food chains are leaning into loyalty programs to drive sales. Starbucks' loyalty program is also growing. AdvertisementThe power lies in the perksHowever, a good loyalty program should be about more than just the points. Advertisement"In a marketplace where choices are endless, a strong loyalty program doesn't just retain customers, it also builds a relationship that feels personal and valuable," she said.
Persons: , McDonald's, Chris Kempczinski, Kempczinski, It's, Laxman Narasimhan, Paschal, Lindsey Wasson, Burger, Kevin Shahnazari, Zsuzsa Kecsmar, Zarina Stanford, doesn't, Kecsmar Organizations: Service, Global, Starbucks, Costco, AP, KFC, Burger King, Nike Locations: Colorado
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