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☆ Tyson Foods Suspends Executive After Second Alcohol-Related Arrest
▼ + stars: | 2024-06-13 | by ( Alexandra E. Petri | ) www.nytimes.com time to read: +1 min

A top executive at Tyson Foods who is a fourth-generation member of the Tyson family business was suspended on Thursday after he was charged with driving while intoxicated, the company said in a statement. John Randal Tyson, 34, the company’s chief financial officer and a great-grandson of Tyson’s founder, was arrested in Fayetteville, Ark., by the University of Arkansas Police Department and booked at the Washington County jail at about 1:30 a.m. Thursday, jail records show. It was the second time in less than two years that Mr. Tyson had been charged with an alcohol-related offense. Mr. Tyson, whose father is Tyson’s chairman, was named the company’s chief financial officer in September 2022. He had been in his position just over a month when he was arrested in November 2022, after a woman called the police to report that she had returned to her home in Fayetteville to find him asleep in her bed, The Arkansas Democrat Gazette reported.

Persons: Tyson, John Randal Tyson, Tyson’s Organizations: Tyson Foods, University of Arkansas Police Department, Arkansas Democrat Locations: Fayetteville, Ark, Washington, Arkansas

☆ Why Shari Redstone called off talks with David Ellison’s Skydance on Paramount deal
▼ + stars: | 2024-06-12 | by ( Oliver Darcy | ) edition.cnn.com time to read: +4 min

After weeks of endless speculation about the future of Paramount Global, and more than half a year of grueling negotiations, the heiress called off talks with David Ellison’s Skydance Media, astonishing the industry and raising questions about the future of her family-controlled media empire. Why Redstone ultimately vetoed the deal is now up for discussion. Chief among them was whether the deal should have been subject to approval from a majority of the minority shareholders. And tried they did over the last several months, with the negotiations claiming several high-profile casualties along the way. Over the course of the last few months, Bob Bakish was ousted as chief executive of Paramount Global and four directors resigned from the company’s board.

Persons: Shari Redstone, David Ellison’s Skydance, Sumner, Skydance, Ellison, Charles Phillips, “ Shari, Bob Bakish, ”, Brian Robbins, George Cheeks, Chris McCarthy, NAI Organizations: New York CNN, Paramount Global, Amusements Inc, CNN, Redstone, Redbird Capital, Paramount’s Office, Company’s, Directors, Paramount, “ Locations: New York

☆ Politicians keep courting the TikTok vote. Users aren’t impressed
▼ + stars: | 2024-06-12 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

Many TikTok users in the survey said they care far more about entertainment, culture and friends. TikTok users don’t care much about politicsMany TikTok users, roughly 4 in 10, said they do see at least some politics content on the app, according to the survey. Only a third of TikTok users said they use the app to keep up with politics; 41% said they use it to get news. Right now, 22% of TikTok users say content on the app is mostly liberal, while 6% say it’s mostly conservative, according to Pew’s latest survey. TikTok users who identify as Republicans were slightly more likely than Democratic TikTok users to say TikTok is bad for US democracy, but only by a slim margin of 7 percentage points.

Persons: Washington CNN —, John S, James L, Donald Trump, Joe Biden’s, TikTok, Biden, Pew, ” Pew, we’ve, ”, Colleen McClain, —, Elon Musk, ” McClain, McClain, Musk, it’s Organizations: Washington CNN, Pew Research Center, Knight Foundation, TikTok, Facebook, Trump, CNN, Pew, Democratic, Elon, “, Republican Twitter Locations: China, United States, TikTok, Gaza

☆ US bus company Coach files for bankruptcy to sell its business
▼ + stars: | 2024-06-12 | by ( ) edition.cnn.com time to read: +2 min

Coach USA, the operator of Megabus and other commuter bus lines in the US and Canada, filed for bankruptcy protection in Delaware late Tuesday, seeking to sell its assets and shed debt incurred in an ill-timed 2019 private equity buyout. Coach, the largest privately owned bus company in the US, was acquired by private equity firm Variant Equity Advisors for $270 million, mostly using debt that is still on the company’s books. Coach CEO Derrick Waters said that buses will continue to run as normal during the company’s bankruptcy. The company operates several other bus brands in addition to Coach, including Megabus, Dillon’s Bus Company, and Go Van Galder. Renco Group, a private investment company, would acquire the majority of Coach’s assets in exchange for taking on $130 million of company debt and certain union contracts.

Persons: Derrick Waters, ” Waters, Van Galder Organizations: USA, Equity, Coronavirus, Economic Security, Dillon’s Bus Company, Renco, Avalon Transportation, ABC Buses Locations: Canada, Delaware, Wilmington , Delaware, Atlanta , Georgia

☆ 66% of Americans give companies a failing grade for CEO pay
▼ + stars: | 2024-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Americans are fed up with massive CEO pay packages. Just 13% say companies are doing a good or excellent job at avoiding a major pay gap between CEOs and average employees. For the third year in a row, the vast majority – 66% — say companies are doing a “poor” job here. Politically, the majority of Democrats (96%), independents (83%) and Republicans (67%) agree that it’s important to avoid major pay gaps. The findings show how the issue of CEO pay strikes a chord among many Americans, some of whom are struggling to make ends meet in an increasingly expensive world.

Persons: Gallup, ”, Nell Minow, Elon Musk, Tesla, “, Cynthia Clark, Bernie Sanders, Elizabeth Warren, “ It’s, Bill George, Medtronic, Hock Tan, William Lansing, George, Dave Calhoun, Dodd, Frank, Clark, ” Minow, Minow Organizations: New, New York CNN, Bentley University, Gallup, CNN, ValueEdge Advisors, Associated Press, “, Democrats, Sens, Broadcom, Harvard Business School, Boeing, Congress Locations: New York, ”

☆ Tesla’s Pay Package Ruined Elon Musk. Shareholders Should Reject It. - The New York Times
▼ + stars: | 2024-06-11 | by ( J. Bradford Delong | ) www.nytimes.com time to read: +1 min

But Mr. Musk changed the world. Much has changed since 2018, the year Tesla dreamed up an unorthodox pay package that, in theory, tied Mr. Musk’s pay to the company’s performance. Problem is, the performance was not for making high-quality cars or making affordable cars or making cars at scale. This pay package was, I think, bad for Mr. Musk. Tesla is now asking its shareholders to reapprove this pay package, which would hand Mr. Musk an eye-popping roughly $46 billion, making him, the world’s richest man, one of its highest-paid executives.

Persons: Elon Musk, Musk, Tesla, Musk’s

☆ Mistral, a French A.I. Start-Up, Is Valued at $6.2 Billion
▼ + stars: | 2024-06-11 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +1 min

Mistral, a French artificial intelligence start-up, said on Tuesday that it had raised 600 million euros, or about $640 million, from investors, a sign of robust interest in a company seen as Europe’s most promising rival to OpenAI and other Silicon Valley A.I. Mistral is now valued at €5.8 billion, according to a person familiar with the investment, an eye-popping sum for a company founded just one year ago by alumni from Meta and Google. Since OpenAI released ChatGPT in November 2022, investors have poured money into generative A.I. Two weeks ago, Elon Musk raised $6 billion for his start-up, xAI. OpenAI has raised roughly $13 billion from Microsoft, while another California start-up, Anthropic, has raised more than $7.3 billion.

Persons: Andreessen Horowitz, Elon Musk, OpenAI Organizations: Meta, Google, Catalyst, Lightspeed Ventures, Nvidia, Samsung, Salesforce, Cisco, IBM, BNP, Microsoft Locations: California

☆ More than 15,000 Amazon contract drivers file legal claims asking for compensation for overtime and unpaid wages
▼ + stars: | 2024-06-11 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —More than 15,000 Amazon contract drivers filed arbitration claims against the e-commerce giant on Tuesday, alleging Amazon classified them as independent contractors instead of employees with minimum wage and overtime rights. Amazon Flex, launched in 2015, allows independent contractors to sign up to deliver Amazon packages. Flex drivers provide Amazon Fresh grocery deliveries or same-day deliveries from the company’s warehouse hubs. Since the drivers are classified as independent contractors, these claims ask for compensation for unpaid wages and overtime, and reimbursement for expenses such as mileage and cell phone usage. Tindall told CNN that the workers filed independent arbitration claims instead of a class action lawsuit because drivers have to sign an agreement that forbids class action.

Persons: misclassification, Steven Tindall, Tindall, Joseph Sellers, “, Sellers, we’re, ” Tindall, CNN’s Samantha Delouya Organizations: New, New York CNN, Amazon, Flex, American Arbitration Association, Drivers, CNN Locations: New York, California , Massachusetts, Illinois

☆ Fox board members subpoenaed in Smartmatic’s defamation lawsuit over 2020 election lies
▼ + stars: | 2024-06-11 | by ( Jon Passantino | ) edition.cnn.com time to read: +3 min

CNN —Four Fox Corporation board members have been subpoenaed in voting technology company Smartmatic’s $2.7 billion defamation lawsuit against Fox News over its airing of 2020 election lies, alleging executives at the right-wing cable channel’s parent company knew it was spreading false claims. In a court filing Monday, Smartmatic subpoenaed the four board members — Anne Dias, Charles Carey, Roland Hernandez, Jacques Nasser — over Fox News’s repeated airing of bogus conspiracy theories that the 2020 election was stolen from former President Donald Trump. “Smartmatic plans to pursue Fox’s board members as well to determine why they allowed the company’s most valuable asset, Fox News, to spread disinformation about the 2020 election.”New York Judge David Cohen had previously ordered Fox Corporation to turn over documents related to the board members in the case. Rupert Murdoch, the right-wing media mogul who founded Fox Corporation, the parent company of Fox News, was also deposed late last year. Fox News has previously denied defaming anyone and claimed that Smartmatic’s lawsuit is an assault on the First Amendment.

Persons: Smartmatic, — Anne Dias, Charles Carey, Roland Hernandez, Jacques Nasser —, Fox News’s, Donald Trump, Rupert, Lachlan Murdoch, ”, Erik Connolly, “ Smartmatic, David Cohen, Rupert Murdoch, “, Lachlan Murdoch’s, Cohen, Murdoch, Joe Biden Organizations: CNN, Four Fox Corporation, Fox News, Fox, “, Fox Corporation, New York State, Dominion Voting Systems Locations: New York

☆ Boeing sales remain stalled
▼ + stars: | 2024-06-11 | by ( Chris Isidore | ) edition.cnn.com time to read: +2 min

New York CNN —Boeing reported another weak month for new plane orders as it struggles to overcome questions about safety and production problems with its commercial jets. The company reported it took orders for only four new jets in May, all for the 787 Dreamliner, and none for the troubled 737 Max. That was down from even the modest orders of seven gross orders in April, and far below the order of 69 jets it reported in May 2023. Orders for Boeing jets have fallen sharply, for the most part, from the strong sales it reported in 2023, including a monthly record for orders in December, due to airlines’ eagerness to expand their capacity to meet increased passenger travel demand. Shares of Boeing, a component of the Dow Jones industrial average, fell more than 3% on the report.

Persons: Max Organizations: New, New York CNN, Boeing, American Airlines, FAA, Alaska Airlines, Dow Locations: New York

☆ Apple’s AI: We’ve seen some of this before
▼ + stars: | 2024-06-11 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

On the other hand, however, other AI tools look familiar from what we’ve seen on the market. Ahead of the demo, the company emphasized that the majority of the new tools are powered by Apple Intelligence. If you want your email to sound more professional, or more friendly, Apple says its AI will take a stab. Siri’s AI flexApple really flexes its AI muscle, however, when it comes to Siri, which Apple says is taking a massive step forward by becoming more contextually relevant and more personal. In the demo, Apple showed how someone could upload a picture of vegetables at a farmer’s market and ask what they could make for dinner.

Persons: “, they’re, –, Siri, Craig Federighi, It’ll, they’ve, OpenAI, Apple, Genmoji, Roger Federer, he’s, it’s Organizations: CNN, Developers, Apple, “ Apple Intelligence, Apple Apple Intelligence, Google, Samsung, Catering, Apple Intelligence

☆ Elon Musk Withdraws His Lawsuit Against OpenAI and Sam Altman
▼ + stars: | 2024-06-11 | by ( Cade Metz | More About Cade Metz | ) www.nytimes.com time to read: 1 min

Elon Musk withdrew his lawsuit on Tuesday against OpenAI, the maker of the online chatbot ChatGPT, a day before a state judge in San Francisco was set to consider whether it should be dismissed. The suit, filed in February, had accused the artificial intelligence start-up and two of its founders, Sam Altman and Greg Brockman, of breaching OpenAI’s founding contract by prioritizing commercial interests over the public good. A multibillion-dollar partnership that OpenAI signed with Microsoft, Mr. Musk’s suit claimed, represented an abandonment of the company’s pledge to carefully develop A.I. and make the technology publicly available. Mr. Musk had argued that the founding contract said that the organization should instead be focused on building artificial general intelligence, or A.G.I., a machine that can do anything the brain can do, for the benefit of humanity.

Persons: Elon Musk, Sam Altman, Greg Brockman, OpenAI, Musk’s, Musk Organizations: OpenAI, Microsoft Locations: San Francisco

☆ Elizabeth Holmes, Silicon Valley’s most famous convict, makes her long-shot appeal
▼ + stars: | 2024-06-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Holmes was sentenced to 11 years in prison for defrauding investors in her failed blood-testing company, Theranos. She is seeking a new trial, arguing that the judge in her case erred in several decisions during the 2022 proceedings. Since her conviction, her projected release date from prison has been moved up, shaving about two years off her sentence. Theranos’ unraveling, and Holmes herself, became the subject of a bestselling book, a Hulu scripted series and an award-winning documentary. Holmes knowingly concealed the technology’s problems, and still pushed to get the company’s Edison devices into pharmacies, prosecutors argued.

Persons: Elizabeth Holmes, Holmes, Stanford, Steve Jobs, Larry Ellison, Rupert Murdoch, Ramesh “ Sunny ”, “ Holmes, Balwani, Holmes ’, Theranos, “, Edward Davila, Balwani “, laywers, ”, Agustin Orozco, Crowell, Orozco Organizations: New, New York CNN, California’s, Circuit, Wall Street, Prosecutors, Moring Locations: New York, California, Texas

☆ Starbucks joins the value menu wars with a new discounted offer
▼ + stars: | 2024-06-11 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Starbucks is the latest entrant in the value menu wars, joining its rivals in releasing new offers to lure back cash-strapped consumers. The offer, available all day, comes in two options: For $5, a customer can order a tall iced or hot coffee or an iced or hot tea paired with a croissant. For Starbucks, it’s part of broader changes rolling out this summer, which include a new iced coffee blend, updated its app with more accurate ordering times and new promotions. Starbucks is also making tweaks to its two-year-old partnership with Delta Air Lines’ SkyMiles program, which lets customers earn miles on every transaction. Beginning Wednesday, customers will only earn miles on Starbucks account reloads of $25 or more rather than per dollar spent at its cafes.

Persons: There’s, ” David Henkes, Laxman Narasimhan, ” Henkes, Danielle Wiener, Bronner Organizations: New, New York CNN, Starbucks, CNN, Delta Air Locations: New York, Technomic

☆ Raspberry Pi London IPO: Why investors are going gaga over a tiny, $35 computer
▼ + stars: | 2024-06-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Investors are snapping up the shares of a British maker of tiny computers after it went public on the London Stock Exchange Tuesday. Raspberry Pi stock soared as much as 40% in early trade before paring those gains slightly by 11.54 a.m. The Cambridge-based company started life in 2012 as a commercial subsidiary of the Raspberry Pi Foundation, a charity founded four years earlier to promote computer science in schools. To date, Raspberry Pi has sold more than 60 million computers worldwide, according to its website. Raspberry Pi plans to invest the funds raised in developing its products and expanding its educational activities.

Persons: Pi, Eben Upton, “ It’s, ” Russ Mould, AJ Bell, haven’t, ” Organizations: London CNN —, London Stock Exchange, Pi, Pi Foundation, Industrial, University of Cambridge, Nasdaq, Cambridge University, Sony, SONY, CNN Locations: British, Cambridge, New York, London

☆ Activist investor takes $1.9 billion stake in Southwest Airlines, calls for leadership changes
▼ + stars: | 2024-06-10 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —Elliott Investment Management announced Monday it has taken a $1.9 billion stake in Southwest Airlines and said there needs to be new leadership at the Dallas-based carrier. Southwest (LUV) stock gained more than 6% in trading Monday on the news of Elliott’s letter to the Southwest Board. Ellioitt’s letter made no mention of a desire to change Southwest from an all-737 fleet, which would increase the cost of pilot training and spare parts. Its letter does not give details about the changes it wants to see, other than a change in leadership at the airline. CEO Bob Jordan told investors last month that the airline is “seriously studying” a possible change to that policy.

Persons: ”, Elliott, Bob Jordan Organizations: New, New York CNN, Elliott Investment Management, Southwest Airlines, Dallas, Southwest Board, Boeing, Department of Transportation, Texas, Johnson Controls Locations: New York, ” Florida, Softbank

☆ Americans tired of sky-high borrowing costs will be disappointed this week
▼ + stars: | 2024-06-10 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Another month, another hot jobs report that has Wall Street wondering when the Federal Reserve will finally cut interest rates. On the other, it puts long-awaited interest rate cuts from the Federal Reserve on the back burner. Before the Bell: Do you think the Fed could lower its projection for three quarter-point rate cuts this year? Is it concerning that the European Central Bank and Bank of Canada have begun cutting rates before the Fed? A Samsung spokesperson told CNN that, “there is no impact on production and management activities” as a result of the one-day walkout.

Persons: Bell, Nate Thooft, I’m, that’s, Yoonjung Seo, —, Son Woomok, Matt Egan, Lina Khan, Beam, Robinson Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Manulife Investment Management, Reserve, European Central Bank, Bank of Canada, European Central Bank and Bank of Canada, Workers, Samsung Electronics, Nationwide Samsung Electronics Union, CNN, Reuters, Samsung, SK Hynix, Micron Technology, Federal Trade Commission, Southern, Biden, FTC, Politico Locations: New York, South Korea, Miami, United States

☆ A Big Decision for Boeing’s Next C.E.O.: Is It Time for a New Plane?
▼ + stars: | 2024-06-10 | by ( Niraj Chokshi | ) www.nytimes.com time to read: +1 min

More than a decade ago, executives at Boeing made a pivotal decision: To keep up with the company’s main rival, Airbus, they gave up on the idea of developing a new airplane and raced to update the 737, the company’s most popular jet. The jet’s troubles have left Boeing behind Airbus in the global market for single-aisle planes, which it once dominated. Now, Boeing, which is expected to appoint a new chief executive by the end of the year, has to make another critical choice: When should it develop its next brand-new plane? If the company missteps, it could spend billions of dollars and still lose market share to Airbus, which is based in Toulouse, France. Both manufacturers also face a distant but rising threat from China and growing pressure to cut planet-warming emissions.

Organizations: Boeing, Airbus Locations: Toulouse, France, China

☆ Apple AI: Today’s the day for Apple to reveal its next big thing
▼ + stars: | 2024-06-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Here’s a closer look at what to expect at Apple’s big event:AI, AI and more AIApple is expected to call its AI initiative “Apple Intelligence” and make it opt-in only. A strategic partnershipIn the spring, Apple was reportedly discussing partnership opportunities with both OpenAI and Google to power its AI tools. That partnership Apple could elaborate on during the opening keynote on Monday. Apple aligning itself with a company and a technology that have yet to win public trust could pose some risks for Apple down the line. Generative AI could potentially propel the headset into another level of personalization and immersion and usher in new use cases for businesses, particularly in the education and medical spaces.

Persons: OpenAI, ”, Tim Cook, Dan Ives, Here’s, –, Siri, ” Thomas Husson, Forrester, Reece Hayden, Apple, ” Hayden, Hayden Organizations: California CNN, Developers Conference, Nvidia, ” Apple, Apple, Apple Intelligence, Bloomberg, CNN, ABI Research, Google, Fortune, Apple Vision, Gartner Locations: Cupertino, California, China, Washington

☆ World War II veteran, 100, marries 96-year-old fiancée near Normandy’s D-Day beaches
▼ + stars: | 2024-06-10 | by ( Story The Associated Press | ) edition.cnn.com time to read: +5 min

But World War II veteran Harold Terens and his sweetheart Jeanne Swerlin proved that love is eternal as they tied the knot Saturday inland of the D-Day beaches in Normandy, France. Their respective ages — he’s 100, she’s a youngster of just 96 — made their nuptials an almost double-century celebration. “(The town of) Carentan was happy to host your wedding, and us, your wedding dinner,” he told the couple. Harold Terens and his 96-year-old bride, Jeanne Swerlin Terens, wave to a crowd following their wedding. On D-Day, Terens helped repair planes returning from France so they could rejoin the battle.

Persons: Harold Terens, Jeanne Swerlin, she’s, —, Terens, ″, “, Adolf Hitler’s, Loic Venance, Glenn Miller, “ oui ”, Carentan’s, ” Terens, Win McNamee, –, Emmanuel Macron, Joe Biden, ” Macron, Carentan, ”, Mayor Jean, Pierre Lhonneur’s, wasn’t, hadn’t, Jeanne Swerlin Terens, Louise, Jane Ollier, ’ ’ Ollier, Swerlin Organizations: Allied, Marais Town Hall, Getty, Army Air Forces Locations: Normandy, France, AFP, “, Ukraine, Gaza, Swerlin, Carentan, Florida, Europe, New York City, Brooklyn, Bronx, Britain, England

☆ Tesla clears another hurdle to launching full self-driving in China
▼ + stars: | 2024-06-10 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —Tesla is one step closer to launching full-self driving (FSD) technology in China after it clinched an agreement with Baidu to upgrade its mapping software. The Chinese tech giant said Saturday that it was providing lane-level navigation services for Tesla cars. China’s answer to Google has been been providing mapping services to Tesla since 2020. It could also accelerate Tesla’s global development of its self-driving technology, as data from China could be used to train Tesla’s algorithms needed for fully autonomous vehicles. “Tesla’s (own) navigation system can finally be used.”Introducing the FSD system could provide a revenue boost to Tesla, which is having a tough time in China.

Persons: Hong Kong CNN — Tesla, Elon Musk’s, ” Baidu, Tesla, ”, Elon Musk, ” Tesla, “ Organizations: Hong Kong CNN, Baidu, “, Google, ” CNN, CNN, Weibo, Tesla Locations: China, Hong Kong

☆ FDA warns consumers against eating ‘microdosing chocolate bars’ after six were left hospitalized
▼ + stars: | 2024-06-10 | by ( Fabiana Chaparro | Nadia Kounang | ) edition.cnn.com time to read: +2 min

CNN —The US Food and Drug Administration is warning consumers and retailers to not “eat, sell or serve” any of Diamond Shruumz-brand’s microdosing chocolate bars after people across four states were left hospitalized. Eight people reported falling ill after eating Diamond Shruumz’s chocolates, the FDA said in an advisory. People who consumed the chocolate bars reported experiencing symptoms that include “seizures, central nervous system depression (loss of consciousness, confusion, sleepiness), agitation, abnormal heart rates, hyper and hypotension, nausea and vomiting,” said the FDA. CNN has reached out to Diamond Shruumz for comment but has not heard back by the time of publishing. If you or someone you know becomes ill after consuming Diamond Shruumz’s chocolate bars, the FDA recommends speaking to a health care provider and/or contacting the Poison Help Line at 1-800-222-1222.

Persons: Diamond, ”, Dr, Sanjay Gupta, Diamond Shruumz Organizations: CNN, Food and Drug Administration, FDA, People, CNN Health, US Centers for Disease Control, Centers Locations: Arizona, Indiana, Nevada, Pennsylvania

☆ What's the best way to determine whether to invest in a company after its IPO?
▼ + stars: | 2024-06-09 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

The timeline between filing the form and the actual IPO ranges, but it usually happens between several months and a year. If the float represents a very low share of total shares outstanding, it means more potential volatility in the stock. The smaller the IPO, or lower the float, the stronger the likelihood of a big swing post-lockup. If we are seeking to determine intrinsic value, the lockup period shouldn't impact our decision on whether the stock is a buy or not. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, — Tom, they've, Jim, Brendan Mcdermid Organizations: Securities and Exchange Commission, CNBC, Traders, Rubrik, Microsoft, New York Stock Exchange Locations: New York, New York City, U.S

☆ Apple needs to make the iPhone cool again. Tomorrow is its chance
▼ + stars: | 2024-06-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +5 min

And no product is more important to Apple than the iPhone. New AI features that provide a compelling reason to upgrade when Apple rolls out the iPhone 16 in the fall could boost the company at a crucial time. Here’s the thing: No matter how Monday goes, Apple isn’t losing its status as a tech powerhouse anytime soon. The latter scenario — assuming the features are compelling — could spur the next major iPhone upgrade cycle and have ripple effects for the entire company. “That’s the key: if it’s compelling and not backward-compatible, Apple will have the first upgrade cycle in four years,” Luria said.

Persons: they’ve, Apple isn’t, D.A, Davidson, Gil Luria, Gadjo Sevilla, “, Siri, Luria, ” Luria Organizations: New, New York CNN, Apple, CNN, ”, Nvidia, Microsoft, eMarketer, iOS, Samsung Locations: New York, China, WWDC

☆ Is a recession coming? Economists say look at women’s lips
▼ + stars: | 2024-06-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

Estee Lauder chairman Leonard Lauder created the lipstick index during the economic downturn following September 11, 2001. In fall 2001, US lipstick sales increased by 11%. “The lipstick index has been substituted with the moisturizing index,” said Freda. But data shows that more expensive prestige beauty sales are outpacing mass, lower-priced beauty sales. What do you see dominating the beauty market in the second half of the year?

Persons: Estee Lauder, Leonard Lauder, Fabrizio Freda, ”, Freda, “, Sephora, Bell, Neela Montgomery, Laura Mercier, We’ve, it’s, Skincare, It’s, we’re, Inflection’s, OpenAI, Sarah Myers West, ” West, Brian Fung, Jerome Powell, Price Organizations: CNN Business, Bell, New York CNN, CNN, Federal Trade Commission, Microsoft, FTC, Justice Department, Google, Nvidia, DOJ, US Department of Treasury, OPEC Monthly, Federal Reserve, US Bureau of Labor Statistics, Signet Jewelers, Federal Locations: New York, Asia

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