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Read previewIt was last May, and Elon Musk was sitting down for an interview with CNBC's David Faber. When asked about Altman and OpenAI, Musk grew visibly frustrated. AdvertisementMusk's answer may have been the writing on the wall that the billionaire was ready to take Altman and OpenAI to court. "It would be very difficult to claim a breach of contract without a written contract," Hoffman said. As one of the richest men in the world, Musk could tie OpenAI up in litigation for years, according to Lawrence.
Persons: , Elon Musk, CNBC's David Faber, Altman, Musk, OpenAI, Kyle Lawrence, Falcon Rappaport, Berkman, he'd, Tesla, Musk's grandstanding, David Hoffman, Hoffman, Samuel Brunson, Lawrence, who's, " Brunson Organizations: Service, Business, Microsoft, GPT, Falcon, University of Pennsylvania, Altman, Loyola University Locations: Lawrence
Ari Faber has lived as a man for nine years. But because of a state law, Mr. Faber, a Democratic candidate for the Ohio Senate, will appear on ballots in a March primary election with a woman’s name. The law, which was passed in 1995 to prevent deception, requires candidates who have changed names in the last five years to list previous names on election petitions. It has become an obstacle for Mr. Faber, who has not legally changed his name, and the three other transgender people seeking a seat in Ohio’s Legislature this year. One candidate was disqualified for failing to do so; another saw her campaign challenged; a third campaign faced a disqualification hearing; and Mr. Faber was directed to run under his deadname, a term that transgender people use for a birth name that they no longer use.
Persons: Ari Faber, Faber Organizations: Democratic, Ohio Senate, Republican Locations: Ohio’s, Ohio
Anheuser-Busch last year suffered a major backlash over its Bud Light marketing promotion with a transgender influencer, Dylan Mulvaney. In his Truth Social post on Tuesday, Trump appeared to be well-informed about detailed aspects of the beer company's operations. Trump wrote, "Anheuser-Busch is a GREAT American brand that perhaps deserves a Second Chance?" "Am building a list, and might just release it for the World to see," Trump wrote. Trump wrote.
Persons: Donald Trump, Busch, Dana White, Dylan Mulvaney, White, Trump, Bud, Bud Light, Kid Rock Organizations: Anheuser, UFC, CNBC, Busch, Bud Light, Trump, GREAT, TKO, Holdings, Republican Locations: Nevada, Treasure, Las Vegas , Nevada, U.S, American, Las Vegas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailESPN, Fox & Warner Bros. Discovery launching sports streaming serviceCNBC's David Faber joins 'Closing Bell Overtime' to talk breaking news from the sports streaming space.
Persons: CNBC's David Faber Organizations: ESPN, Fox & Warner Bros, Discovery
When Redstone's father, Sumner Redstone, the founder of National Amusements, died in 2020, Shari Redstone inherited his shares. Paramount Global has a market capitalization of nearly $10 billion and about $13 billion of net debt. If she agrees to sell either National Amusements or all of Paramount Global, she'll need buy in from other investors. Talks are further along with Redstone regarding NAI than they are with Paramount Global, two of the people said. Paramount Global charges $5.99 per month for Paramount+ with advertising.
Persons: Shari Redstone, Mike Blake, it's, David Ellison, Byron Allen, SpongeBob, I'm, National Amusements Shari Redstone, Brendan Mcdermid, Redstone's, Sumner Redstone, Shari, John Malone, Bob Bakish, It's, Banker Byron Trott, Warren Buffett, Berkshire Hathaway, Skydance, Spokespeople, There's, CNBC's David Faber, Bakish, Jim Cramer Organizations: National Amusements, WSJ Tech, Reuters Paramount Global, Paramount, Paramount Global, Skydance Media, Paramount Pictures, CBS, Nickelodeon, Comedy Central, Hollywood, Allen, Co, Sun, Reuters, Amusements Inc, National, Warner Bros, Discovery, CNBC, Comcast, NBCUniversal, Paramount Global's, Amusements, U.S, Disney, Charter, CNBC Paramount Global, Viacom Locations: Laguna Beach , California, Israel, Sun Valley , Idaho, Wells Fargo, America, Berkshire, NAI, Skydance, U.S
Jim Cramer on January jobs report: This is an incredible economy
  + stars: | 2024-02-02 | 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 EmailJim Cramer on January jobs report: This is an incredible economyCNBC’s Carl Quintanilla, Jim Cramer and David Faber break down the January jobs report.
Persons: Jim Cramer, Carl Quintanilla, David Faber
The IPO market is looking very shaky and confronted with a host of challenges that are holding it back. Regardless, recent IPO performances have been poor across the board. IPO investors cheered the advance by bidding up the Renaissance Capital IPO ETF (IPO), a basket of recent IPOs, in December, assuming the IPO market would open up. CNBC's Jim Cramer, speaking early Thursday on Squawk on the Street , highlighted another obstacle for IPO buyers: investors are getting comfortable returns elsewhere with far lower risk. When David Faber asked why the IPO market was off to such a slow start with the markets so strong, Cramer replied, "I think it's the five percent solution," he said, referring to the ocean of money still sitting in money market funds.
Persons: Jay Powell's, Birkenstock, Smith Douglas, Amer, Greg Martin, Martin, Matt Kennedy, Kennedy, What's, Rainmaker, Del, CNBC's Jim Cramer, David Faber, Cramer Organizations: Amer, Wilson, NYSE, Smith Douglas Homes, BrightSpring, Renaissance Capital, Rainmaker Securities, Renaissance, Microsoft Locations: EBITDA, Squawk
Activist investor Elliott Management has a "sizable" investment in e-commerce firm Etsy , which announced on Thursday that Elliott partner Marc Steinberg would join the company's board. The activist investor has built a roughly 13% position in the stock, a person familiar with the matter told CNBC. The position would make it Etsy's largest investor. Still, the e-commerce company's stock is down about 10% year-to-date. It competes with e-commerce companies including Amazon, which has its own handcrafted products platform.
Persons: Elliott, Marc Steinberg, CNBC's David Faber, Josh, Steinberg, Etsy, Josh Silverman, Silverman Organizations: Nasdaq, Elliott Management, CNBC, Vanguard, BlackRock, Match Group, Philips, Amazon Locations: New York City, Salesforce, Brazil
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLogitech CEO Hanneke Faber on earnings beat, outlook and the gaming marketLogitech CEO Hanneke Faber discussed the company's most recent quarterly report with CNBC's Jim Cramer, describing headwinds that may impede sales. These headwinds include smaller IT budgets and high office vacancies.
Persons: Hanneke Faber, CNBC's Jim Cramer Organizations: Logitech
Logitech CEO Hanneke Faber discussed the company's most recent quarterly report with CNBC's Jim Cramer, describing external headwinds that may hinder top line sales growth. "What we wanted to do ... in our reporting today is make sure that we're a little cautious," Faber said. "Because while there's a lot of stuff that Logitech's got going for it, we do think the recovery to growing top line sales will be gradual, and that's because there's so much happening in the external environment." She added that office vacancies in the U.S. just hit an all-time high, and empty office buildings mean fewer Logitech products sold. "There's just a lot of things happening in the market, that's why we're a little cautious," Faber said.
Persons: Hanneke Faber, CNBC's Jim Cramer, Faber, Logitech's, Tuesday's Organizations: Logitech Locations: U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLogitech CEO Hanneke Faber: Sales growth will be 'gradual' due to external headwindsLogitech CEO Hanneke Faber discussed the company's most recent quarterly report with CNBC's Jim Cramer, describing headwinds that may impede sales. These headwinds include smaller IT budgets and high office vacancies.
Persons: Hanneke Faber, CNBC's Jim Cramer Organizations: Logitech
COLUMBUS, Ohio (AP) — Several transgender candidates for state office in Ohio are facing challenges and even outright disqualification for omitting their former names from petition paperwork under a little-known state elections law, confronting a unique dilemma as they vie for office in increasing numbers in the face of anti-LBGTQ+ legislation. But state law mandates that candidates list any name changes in the last five years, though it isn't in the Secretary of State's 33-page candidate requirement guide. Michigan has a similar elections law, which mandates candidates list any name changes in the past decade, but it's not clear which others states have one. Political Cartoons View All 253 ImagesThe Ohio law has existed in some form since as early as the 1920s, and the current version has been in place since the 1990s. It's rarely been enforced in Ohio over the decades, usually in response to candidates wishing to use a nickname on the ballot.
Persons: , Bobbie Arnold, Arienne, Angie King, It's, Vanessa Joy, Joy, it's, Frank LaRose, ” LaRose, Zephyr, , Ari Faber, Arnold, Childrey, potty, ” ___ Samantha Hendrickson Organizations: Democratic, Republican, Ohio House, Senate, Montgomery County, Associated Press, Ohio Supreme, Washington County, Ohio Democratic Party, AP, Zooey, America Statehouse News Initiative, America Locations: COLUMBUS , Ohio, Ohio, West Alexandria, Montgomery, Auglaize County, Michigan, Stark County, Stark, Montana, Athens , Ohio
Morgan Stanley CEO James Gorman said Thursday that he's gearing up to join a succession planning committee at Disney , which will advise the board on choosing CEO Bob Iger's successor. Trian said it would push for Peltz and former Disney executive Jay Rasulo to join the board. "Disney is forming a succession committee, which I'll be joining," Gorman told CNBC's David Faber. Disney said Gorman was referring to the succession committee the company announced in January. Before he ended his previous reign as CEO, Iger renewed his contract multiple times.
Persons: Morgan Stanley, James Gorman, Bob Iger's, Gorman, Jan, Jeremy Darroch, Nelson Peltz, Trian, Jay Rasulo, CNBC's David Faber, Morgan Stanley's, he's, Disney, Iger, Bob Chapek Organizations: Disney, Sky, CNBC
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer on Elon Musk: An unfiltered person who answers to absolutely no oneCNBC’s Carl Quintanilla, Jim Cramer and David Faber discuss Elon Musk's interview at The New York Times DealBook Summit.
Persons: Jim Cramer, Elon, Carl Quintanilla, David Faber, Elon Musk's Organizations: The New York Times DealBook
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailActivist investor Nelson Peltz seeks two seats on Disney board as potential proxy fight loomsCNBC's David Faber reports on the latest news from Disney.
Persons: Nelson Peltz, CNBC's David Faber Organizations: Disney
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShareholder resistance? Potential Cigna-Humana deal faces pushbackCNBC's David Faber reports on the latest developments in the potential Cigna-Humana merger.
Persons: pushback CNBC's David Faber Organizations: Humana
Petco — Shares of the pet retailer plummeted 17% after reporting a third-quarter loss of 5 cents per share. Analysts had anticipated the company would earn 2 cents per share on revenue of $1.51 billion, according to a LSEG survey. CrowdStrike — Shares of the cybersecurity company gained 2.7% after it reported positive third-quarter earnings and raised its fourth-quarter forecast. The results topped estimates of 74 cents per share on revenue of $777 million expected by analysts, according to LSEG. The company, which was slated to report its third-quarter earnings after the bell on Wednesday, posted its results early.
Persons: TD Cowen, Steve, Hormel, LSEG, NetApp, CrowdStrike, Okta, Phillips, Elliott, CNBC's David Faber, , Macheel, Jesse Pound Organizations: Toyota, AstraZeneca, pharma, LSEG, General Motors, GM, JMP Securities, Elliott Management Locations: Tuesday's, U.S
Late Tuesday, the company reported fourth-quarter earnings of 2 cents per share, topping the FactSet consensus estimate of a loss of 7 cents per share. Foot Locker — The footwear retailer gained 17% after Foot Locker topped analysts' expectations in its third quarter. The company also issued third-quarter earnings guidance and a full-year forecast that came ahead of what the Street anticipated. Workday — The enterprise cloud stock popped 12% after Workday reported third-quarter results that exceeded expectations. Phillips 66 — Phillips 66 gained 3.6% after Elliott Investment Management on Wednesday said it took a $1 billion stake in the company.
Persons: Locker, CrowdStrike, General Motors, Vestis, Phillips, — Phillips, CNBC's David Faber, Jabil, Hormel, LSEG, , Alex Harring, Darla Mercado Organizations: Rover, Blackstone, Fluence Energy, Revenue, LSEG, General, GM, United Auto Workers, Hewlett Packard Enterprise, Elliott Investment Management, Petco, Wellness, Hormel
Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is seeking as many as two board seats in a push to improve the company's performance, according to a Wednesday letter from the activist investor. Elliott's push for the board seats comes as Phillips has underperformed its competitors Marathon Petroleum and Valero . Elliott backed CEO Mark Lashier's plan to improve the company's performance. The CEO plans to do this through a more than $1 billion improvement in Phillips' refining segment, selling $3 billion in noncore assets and increasing the company's long-term capital return policy. Elliott said Phillips 66's stock has an upside of 75% from its last closing price of $118 if the company executes on these goals.
Persons: Phillips, CNBC's David Faber, Elliott, John Pike, Mike Tomkins, Mark Lashier's Organizations: Elliott Investment Management, Phillips, Marathon Petroleum, Valero
Check out the companies making the biggest moves midday: PDD Holdings — U.S.-listed shares of the international ecommerce company jumped more than 18% after PDD posted a big earnings and revenue beat . PDD, the parent of Pinduoduo and Temu, reported a whopping 94% year-over-year increase in revenue for its third quarter. Micron Technology — Micron Technology's stock fell nearly 3% even after the memory chipmaker boosted its revenue guidance for its fiscal first-quarter. Twilio — The enterprise software stock jumped nearly 4% after CNBC reported activist investor Anson Funds has built a stake in Twilio. U.S. Steel — Shares added 1.7% in midday trading.
Persons: PDD, Ken Herbert, Twilio, Anson, Crocs, Raymond James, it's, CNBC's David Faber, Ogsiveo, Dow, Carlyle, Jefferies, nLight, Alex Harring, Samantha Subin, Lisa Han, Spencer Kimball, Jesse Pound Organizations: PDD Holdings —, Micron Technology, Micron, Boeing —, RBC Capital Markets, CNBC, . Steel, Steel, U.S . Steel, SpringWorks Therapeutics, Food and Drug Administration, Therapeutics, Carlyle, Dow Jones Indices, underperform Locations: Ireland, China, Twilio, Cleveland, United States
Jim Cramer said Tuesday he wants more clarity around why Amazon founder Jeff Bezos is aggressively selling shares. "I don't think anyone wants to be on the other side of Jeff Bezos selling," he added. The tech mogul on Tuesday could offload as many as 8 million to 10 million Amazon shares worth over $1 billion, according to CNBC's David Faber . While those are big numbers, more than 53 million shares of Amazon have traded hands as of late Tuesday afternoon. Tuesday's decline in Amazon shares follows an impressive rally of nearly 15% in the past month following better-than-expected third-quarter results in late October.
Persons: selloff, Jim Cramer, Jeff Bezos, CNBC's David Faber, paring, Jim, Bezos didn't, Jim Cramer's, Paul Ellis Organizations: Amazon, Bloomberg, CNBC, Change Locations: Amazon, Glasgow, Scotland, Britain
Jeff Bezos is expected to be "aggressive" in selling more shares of Amazon on Tuesday, sources told CNBC's David Faber. Bezos may sell as many as 8 to 10 million shares, which would amount to more than $1 billion worth of stock, the sources told Faber. Shares of Amazon are down about 2.6%. It comes after Bezos last week unloaded about $240 million worth of Amazon shares, according to financial filings. WATCH: Here's why Jeff Bezos is leaving Seattle for Miami
Persons: Jeff Bezos, CNBC's David Faber, Bezos, Faber, Bezos didn't, Bezos —, Bloomberg —, Lauren Sanchez, Sanchez Organizations: Amazon, Bloomberg, Fund, Seattle, Miami Locations: Maui, Seattle, Miami
Kohl's — Shares dropped more than 9% after the retailer reported weaker-than-expected revenues for the third quarter. American Eagle Outfitters — The apparel retailer sank 16% after its operating income guidance for the full year came in weaker than expected. C3.ai — Shares of the artificial intelligence software company added 3.4% in midday trading following an upgrade to outperform from Oppenheimer. Baidu reported 34.45 billion yuan for the quarter, surpassing the consensus estimate of 34.33 billion yuan from analysts polled by LSEG. Lowe's — Shares of the home improvement retailer dipped 2.7% after Lowe's reported softer-than-expected revenue for the third quarter .
Persons: CNBC's David Faber, Jeff Bezos, Faber, Medtronic, Kohl's, Timothy Horan, Fitch, — CNBC's Brian Evans, Alex Harring, Jesse Pound, Tanaya Macheel, Sarah Min Organizations: Amazon, Burlington, LSEG, Eagle Outfitters, Oppenheimer, Baidu, VMWare, Broadcom, Dick's, Goods, Abercrombie, Technologies, Agilent Technologies Locations: Burlington
'Squawk on the Street' crew react to the shake-up at OpenAI
  + stars: | 2023-11-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Squawk on the Street' crew react to the shake-up at OpenAICNBC’s Carl Quintanilla, Jim Cramer and David Faber discuss the turmoil facing OpenAI following the ouster of CEO Sam Altman.
Persons: CNBC’s Carl Quintanilla, Jim Cramer, David Faber, Sam Altman
Elon Musk says OpenAI's Ilya Sutskever wouldn't have fired Sam Altman unless it was necessary. "Ilya has a good moral compass and does not seek power," the former OpenAI board member said. "He would not take such drastic action unless he felt it was absolutely necessary," Musk continued. OpenAI's board said in a statement that Altman "was not consistently candid in his communications with the board" but has not given further details. AdvertisementMusk was previously on OpenAI's board of directors.
Persons: Elon Musk, Ilya Sutskever wouldn't, Sam Altman, Ilya, Musk, , Ilya Sutskever's, Sam Altman's, OpenAI's, Altman, Greg Brockman, Sutskever, ChatGPT, Grok, CNBC's David Faber, OpenAI, Faber, Emmett Shear, Satya Nadella Organizations: CNBC, Service, New York Times, OpenAI, Microsoft, Musk, Business Insider Locations: OpenAI
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