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This is what it looks like when Google dances
  + stars: | 2024-04-25 | by ( Hugh Langley | ) www.businessinsider.com   time to read: +1 min
Alphabet reports Q1 earnings surpassing estimates with a 15% year-on-year revenue increase. Google has made significant strides in AI, countering perceptions of falling behind in the field. Parent company Alphabet reported blockbuster Q1 earnings on Thursday that blew past analyst estimates. A 15% revenue bump year over year sent stocks soaring. "This is a new Google," Wedbush analyst Dan Ives said on CNBC.
Persons: , Satya Nadella, Dan Ives Organizations: Google, Service, CNBC
Tesla is back on track as Elon Musk is finally acting like the "adult in the room," Wedbush said. AdvertisementTesla stock could be headed for better days, thanks to Elon Musk finally stepping up as the "adult in the room" to calm investors as the company battles an array of headwinds, according to Wedbush Securities analyst Dan Ives. Ives pointed to Tesla's first-quarter earnings call on Tuesday, during which Musk issued firm guidance on the electric vehicle maker's strategy going forward. The company has a "golden vision" surrounding its full self-driving technology, which will be key to Tesla's strategy over the next decade, Ives added. Tesla stock surged in early trading on Wednesday, despite the company missing its revenue goal by nearly $1 billion over the last quarter.
Persons: Tesla, Elon Musk, Wedbush, Dan Ives, , Ives, Musk, Wall, Tesla's Organizations: Elon, EV, Service, Wedbush Securities Locations: China
Tesla stock surged as much as 14% on Wednesday after the company reported 1st-quarter earnings. While the company badly missed analyst estimates, Elon Musk did commit to an affordable car. "We're updating our future vehicle lineup to accelerate the launch of our low-cost vehicles," Tesla said. So, I mean, if somebody doesn't believe Tesla is going to solve autonomy, I think they should not be an investor in the company," Musk said. While Ives remained bullish on Tesla stock, he did lower his price target to $275 from $300.
Persons: Elon Musk, Tesla, , Lars Moravy, Musk, robotaxi, it's, Dan Ives, Ives Organizations: Elon, Service, Tesla, Reuters, Wall Street
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview on Tesla earnings with Wedbush's Dan Ives and Gerber Kawasaki's Ross GerberHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Wedbush's Dan Ives, Gerber Kawasaki's Ross Gerber, Brian Sullivan, Organizations: CNBC
The City of Baltimore has said that the owner and manager of the cargo ship that brought down the Francis Scott Key Bridge last month are directly responsible for the accident and should not be allowed to avoid legal liability, according to court documents filed on Monday. The 985-foot-long ship hit the bridge in the early hours of March 26 after leaving the Port of Baltimore and losing power to its engine and navigation equipment. The bridge collapsed moments later, killing six construction workers, forcing the port to close and disrupting the shipping industry up and down the East Coast. In the meantime, the ship’s owner and operator, both based in Singapore, have asked a federal judge in Maryland to exonerate them from liability for any related losses or damages. In early April, lawyers for the ship’s owner, Grace Ocean, and its manager, Synergy Marine, said in a court filing that the accident had not resulted from “any fault, neglect or want of care” on the companies’ part.
Persons: Francis Scott Key, Grace Ocean Organizations: Port, Synergy Locations: Baltimore, Port of Baltimore, East Coast, Singapore, Maryland
Investors will get an idea of just how bad after the company reports earnings and offers comments to investors after the bell today. And it makes what Tesla says Tuesday evening very important for its future. Analysts are forecasting Tesla to report adjusted earnings of 49 cents a share, sharply lower than the 85 cents a share it reported a year ago. Its profit margins, also a closely watched number, have been falling steadily since it started an EV price war more than a year ago. What he says about the competition from Chinese EVs today will also be a key focus for investors.
Persons: New York CNN — Tesla, Tesla, Elon Musk, , Dan Ives, it’s, Ives, Gordon Johnson, Musk Organizations: New, New York CNN, Investors, Elon, Wedbush Securities, Toyota, General Motors, Ford, GLJ Research, Mr, Reuters Locations: New York, China, Delaware
Hundreds of millions of people in South and Southeast Asia were suffering on Monday from a punishing heat wave that has forced schools to close, disrupted agriculture, and raised the risk of heat strokes and other health complications. The weather across the region in April is generally hot, and comes before Asia’s annual summer monsoon, which dumps rain on parched soil. In Bangladesh, where schools and universities are closed this week, temperatures in some areas have soared above 107 degrees Fahrenheit, or 42 degrees Celsius. “Due to increasing moisture incursion, the discomfort may increase” over the next 72 hours, the Bangladesh Meteorological Department said in a notice on Monday. In Dhaka, the capital, the humidity was 73 percent, and many areas in the country have experienced daily power outages.
Organizations: Bangladesh Meteorological Department Locations: South, Southeast Asia, Bangladesh, Dhaka
An escalating civil war threatens to break apart a country of roughly 55 million people that sits between China and India. That has international consequences, but the conflict hasn’t commanded wide attention. Over the past six months, resistance fighters in Myanmar’s hinterlands have been defeating the ruling military junta in battle after battle, stunning analysts. That raises the possibility that the junta could be at risk of collapsing.
Persons: hasn’t Locations: China, India
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShelving Model 2 for Robotaxi could be a gamble that defines Tesla, says Wedbush's Dan IvesDan Ives, Wedbush Securities managing director, joins 'Squawk on the Street' to discuss why Ives believes shelving Tesla's Model 2 for Robotaxi would be a considerable gamble, what would be a disaster of epic proportions, and more.
Persons: Wedbush's Dan Ives Dan Ives, Ives Organizations: Wedbush Securities
Apple (AAPL) has already spent almost $16 billion through its supply chain in the country since 2019, the government quoted Cook as saying. According to the statement, Cook said Apple “stands ready … to enhance cooperation and investment activities” in the Southeast Asian country. Nguyen, whose firm manages $6 billion in assets, told CNN that labor costs in Vietnam’s manufacturing sector are about half those in neighboring China. That’s a big draw for foreign tech companies looking to hire workers for their factories, and find consumers for their products. Still, Vietnam represents a far smaller market than India, which has also been wooing large foreign companies, including Tesla (TSLA), to set up factories in the country.
Persons: Tim Cook, Pham Minh Chinh, Cook, Apple “, Thuy Anh, Nguyen, Dan Ives, “ We’re, , , Tuan Hung, Ho, That’s, Ives, Juliana Liu Organizations: London CNN, Apple, Vietnamese, Dragon, CNN, country’s Ministry of Planning, Investment, Wedbush Securities, Intel, Consumer, Monetary Fund Locations: Vietnam, China, Hanoi, Beijing, India, United States, Ho Chi Minh City, Washington, That’s, Europe
Tesla laid off more than 10% of its workforce, a memo sent by CEO Elon Musk showed. One worker who lost his job a month after joining Tesla told KVUE he couldn't pay his rent. AdvertisementAn employee who'd been working at Tesla for about a month learned he'd been laid off on Monday, local news station KVUE reported. This includes quietly removing inventory discounts for its EVs in the US, as Tesla investor Sawyer Merritt noted on X.AdvertisementMusk responded, "We are simplifying and streamlining the whole Tesla sales and delivery system. Musk announced his latest moonshot on X earlier this month and said Tesla would launch a self-driving taxi called "Robotaxi," which it would reveal on August 8.
Persons: Tesla, Elon Musk, KVUE, , who'd, he'd, Ezekiel Love, Love, Insider's Grace Kay, Sawyer Merritt, Musk, Dan Ives, Ives Organizations: Tesla, Service, EV Locations: Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThis is a 'fork in the road' period for Musk and Tesla, says Wedbush's Dan IvesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Wedbush's Dan Ives, Brian Sullivan, Organizations: CNBC
Hedge fund manager and New York Mets baseball team owner Steven Cohen has already begun to invest in a four-day work week. Cohen isn't alone in forecasting a four-day work week. Jefferies thinks artificial intelligence will make workers more efficient and eventually lead to a four-day work week becoming the norm, according to a note from June 2023. Bank of America also expects the changing post-pandemic work landscape may result in a shorter work week. Opposition to change Opponents to a shorter work week, however, argue that such a change is both politically and economically unfeasible.
Persons: Steven Cohen, " Cohen, Cohen isn't, Jefferies, Henry Ford, Ford, Christian Magoon, Cohen, Magoon, It's, David Bahnsen, Bahnsen, I'm Organizations: New York Mets, CNBC, Bank of America, Economic, COVID, Cloud Technology ETF, IVES, Ionos, Broadcom, Cisco Systems, General Dynamics Locations: France, U.S, Nice
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAn employee who'd been working at Tesla for about a month learned he'd been laid off on Monday, local news station KVUE reported. This includes quietly removing inventory discounts for its EVs in the US, as Tesla investor Sawyer Merritt noted on X.AdvertisementMusk responded, "We are simplifying and streamlining the whole Tesla sales and delivery system. Musk announced his latest moonshot on X earlier this month and said Tesla would launch a self-driving taxi called "Robotaxi," which it would reveal on August 8. Tesla didn't immediately respond to Business Insider's request for comment made outside of normal working hours.
Persons: , who'd, he'd, Ezekiel Love, Love, Elon Musk, Insider's Grace Kay, Sawyer Merritt, Musk, Dan Ives, Ives, Tesla Organizations: Service, Tesla, EV, Business Locations: Texas
Elon Musk has been urged to lay out a vision for Tesla as senior staff leave amid layoffs. AdvertisementElon Musk must set out a vision for Tesla after investors were spooked by high-profile departures amid layoffs, an analyst has said. Tesla stock fell 5.6% on Monday after Elon Musk announced over the weekend that more than 10% of its workforce would be laid off. Those departing Tesla worked on critical projectsBoth Baglino and Thurston worked on critical projects at the Texas factory. In an X post earlier this month, Musk said Knight was "going to join OpenAI, so it was either xAI or them."
Persons: Elon Musk, Tesla, Musk, , Elon, Dan Ives, Ives, Drew Baglino, he'd, Rohan Patel, Anthony Thurston, Electrek, Thurston, Fred Lambert, Amir Mirshahi, Zachary Kirkhorn, Tesla's, Ethan Knight, Musk's, Knight Organizations: Service, Elon, Energy, Tesla, Business, OpenAI Locations: Texas
How to position in the markets following last week's sell-off
  + stars: | 2024-04-15 | 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 EmailHow to position in the markets following last week's sell-offStephanie Link, Chief Investment Strategist at Hightower, and Dan Ives, Managing Director of Equity Research at Wedbush, discuss where stocks go from here following last week's sell-off.
Persons: Stephanie Link, Hightower, Dan Ives Organizations: Equity Research Locations: Wedbush
Israeli military analysts are divided on whether a more direct confrontation with Iran would alter the war in Gaza. But it occurred against the backdrop of the war in Gaza, where Israel is battling Hamas, a militant group funded and armed by Iran. Some analysts argued that the implications for Gaza would depend on whether Israel responded with a major counterattack against Iran. Other military experts, however, dismissed the link between the Iranian attack and the war in Gaza. General Gilead said that Israel’s army had enough resources to fight against Iran and continue to wage war against Hamas in Gaza.
Persons: Israel, Shlomo Brom, General Brom, “ It’s, Benjamin Netanyahu, , , Amos Gilead, General Gilead, Giora Eiland, Eiland, Mr, Netanyahu, ” Aaron Boxerman Organizations: Hamas, Israel’s National Security Council Locations: Khan Yunis, Gaza, Iran, Israel, Israeli, Damascus, Rafah, United States, Britain, Jordan, Lebanon, Jerusalem
The Iranian armed forces are among the biggest in the Middle East, with 580,000 soldiers and officers and also 200,000 reservists. The start of a direct military confrontation between Iran and Israel has brought renewed attention to Iran’s armed forces. Instead, Israel and Iran have been engaged in a long shadow war via air, sea, land and cyberattacks, and Israel has covertly targeted military and nuclear facilities inside Iran and killed commanders and scientists. It’s that they realize any war against Iran is a very serious war.”What sort of military threat does Iran pose? The commander in chief of Iran’s armed forces is the supreme leader, Ayatollah Ali Khamenei, who has the last word on all major decisions.
Persons: , Afshon Ostovar, “ It’s, Ayatollah Ali Khamenei, Fabian Hinz, , Atta Kenare, Ostovar, Ayatollah Khamenei, Shah Mohammed Reza Pahlavi, Will Israel’s Organizations: Naval Postgraduate School, Islamic Revolutionary Guards Corps, International Institute for Strategic Studies, Guards, General Staff of, Armed Forces, Quds Force, Agence France, Phantoms, Iranian Army, Associated Press Locations: Tehran, Iranian, Iran, Israel, Damascus, United States, Washington, Lebanon, Yemen, Syria, Iraq, Jihad, Gaza, Berlin, speedboats, Persian, Hormuz, Russia, Ukraine, Sudan, North Korea
The bank reports $1.26 in earnings per share vs. $1.11 expected. A round of price target increases on Constellation Brands after its strong quarter and upside guide Thursday. Following the release and conference call, we reiterated our buy-equivalent 1 rating on shares and raised our price target to $300 from $270. A couple more price target cuts on Tesla . BMO starts coverage on the Novo Nordisk shares with a buy-equivalent outperform rating and a $163 per share price target.
Persons: Wells Fargo, Jefferies, Rosenblatt, Wells, Wedbush's Dan Ives, robotaxi, Eli Lilly, Jim Cramer's, Jim Cramer, Jim Organizations: Bank, JPMorgan, Citigroup, Constellation Brands, BMO, Devices, Arista Networks, Citi, EV, Boeing, Novo Nordisk, Jim Cramer's Charitable, CNBC Locations: China, Tesla, Wells Fargo
Microsoft has reported significant revenue growth from clients running AI models in its Azure public cloud, and the company wants to keep the trend going by rolling out new AI features for developers. The new head of Microsoft AI, Mustafa Suleyman, will take the stage alongside CEO Satya Nadella and other longtime executives during the show's opening keynote in Seattle. Suleyman — a cofounder of DeepMind, the AI startup that Google acquired in 2014 — joined Microsoft last month from startup Inflection AI. The software maker will also talk about new AI features "that allow users deeper interaction with their digital lives on Windows," according to one session description. At Build, Microsoft plans to discuss how Windows apps will be able to tap Arm-based neural processing engines, or NPUs, for AI.
Persons: Mustafa Suleyman, Nadella, Satya Nadella, Suleyman —, , Dan Ives Organizations: Ltd, Economic, Microsoft, Microsoft's, DeepMind, Google, Windows, Intel Locations: Davos, Switzerland, Seattle
The United States Postal Service on Tuesday proposed an overall increase of nearly 8 percent on the price of postage, the latest in a series of stamp hikes over the past three years. The new prices would take effect in July, pending approval from an independent regulatory commission. Among other changes, a Forever stamp would cost 73 cents instead of 68 cents, and the price of a domestic postcard would rise to 56 cents from 53 cents. The Postal Service has faced financial issues for years because it is required to fund retiree health care benefits for its employees in advance. It’s also facing headwinds, like other postal services globally, as fewer people send mail.
Persons: It’s Organizations: United States Postal Service, Postal Service
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle's Arm-based chip is a 'flexing the muscles' moment, says Wedbush's Dan IvesDan Ives, Wedbush Sr. Equity Research Analyst, joins 'Closing Bell Overtime' to discuss Google's new Arm-based chip, Alphabet hitting record highs, Apple's recent performance and more.
Persons: Wedbush's Dan Ives Dan Ives, Wedbush Organizations: Equity Research
Disappointing investors Tesla's inability to meet estimates and boost demand for its models has spurrred the newfound skepticism. The comments from Wood came one day after her firm purchased nearly $40 million worth of Tesla shares. A lack of investor understanding of the value of these alternative businesses and their future contribution to Tesla profits is plaguing Tesla shares, according to Corestone Capital's Will McDonough. TSLA 1Y mountain Tesla shares over the last year "Valuing Tesla as a car company is akin to valuing Amazon as a book sale company," the investor said. "There are definitely concerns in the marketplace around demand" for Tesla vehicles, said Robert W. Baird senior research analyst Ben Kallo.
Persons: Tesla, Morgan Stanley, Adam Jonas, Wedbush's Dan Ives, Ives, Michael Sansoterra, Tim Pagliara, EVs, Sansoterra, that's, CNBC's Andrew Ross Sorkin, Cathie Wood, Wood, Brad Gerstner, Elon Musk, Corestone Capital's Will McDonough, Robert W, Baird, Ben Kallo, We're Organizations: Elon, Silvant Capital Management, Wall, Motors, Ford, Toyota, Silvant, Ark Investment Locations: U.S, China
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewApple's recently announced foray into developing home robots could end up being a "horror show" for the company, according to Wedbush analyst Dan Ives. Ives thinks such a shift would be detrimental to Apple, which should instead be primarily focused on leaning into artificial intelligence. Even amid his concern around Apple's home robots, Ives remains bullish on the company's stock trajectory over the medium-term. But that projection hinges on Apple continuing to put its AI at the forefront of its priorities, the analysts suggested.
Persons: , Dan Ives, Ives, Cook, Gene Munster, Munster, Apple Organizations: Service, CNBC, Bloomberg, Apple, Business, Department of Justice Locations: China, Cupertino
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewApple's decision to cut more than 600 employees in California speaks to the challenges facing the technology titan and affecting its stock price — and why analysts are divided over its outlook. At the same time, reports suggest Apple is looking into building robots that help people with household tasks. Related storiesWorries that Apple has lost its way have weighed on its stock price. Even so, Apple is a mainstay of many stock portfolios and unlikely to fall much further, Craig Johnson, chief market technician at Piper Sandler, told Bloomberg.
Persons: , Gene Munster, Dan Ives, Cook, Apple, Craig Johnson, Piper Sandler, Warren Buffett, they've, Johnson Organizations: Service, Apple, Business, Deepwater Asset Management, CNBC, Big Tech, Microsoft, Bloomberg, Berkshire Hathaway, Yahoo Finance Locations: California, China, Europe, Berkshire
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