DIRS.INFO The most relevant business & tech news

☆ Here are Wednesday's biggest analyst calls: Nvidia, Netflix, Dell, GM, SunPower, Alphabet, Nio, Tesla, Exxon & more
▼ + stars: | 2024-05-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are the biggest calls on Wall Street on Wednesday: UBS reiterates Nvidia as buy UBS said it's standing by its buy rating heading into Nvidia earnings next week. Wells Fargo names Natera a top pick Wells said the fertilizer company is a new top pick at the firm. Morgan Stanley resumes Exxon as overweight Morgan Stanley resumed coverage of the stock and says it has "attractive growth at a compelling valuation." Morgan Stanley reiterates Palo Alto as overweight Morgan Stanley said it's bullish on shares of Palo Alto heading into earnings next week. Morgan Stanley names Dell a top pick Morga Stanley raised its price target on the stock and says it remains a best idea.

Persons: it's, Cantor Fitzgerald, Tesla, Canto, Tesla's, Wells, CTVA, KeyBanc, TD Cowen, Janus Henderson, Morgan Stanley, Palo, Bernstein, Mills, Campbell, underperform Bernstein, Wolfe, SunPower, Dell, Morga Stanley, Stephens, Truist, Oppenheimer, Will, DA Davidson Organizations: UBS, Nvidia, " Bank of America, Bank of America, Alphabet's, Google, JPMorgan, China, Deutsche Bank downgrades, Deutsche, Fair, Six, Sciences, NTR, Netflix, Energy, Palo Alto, Palo, Food, Tech, Barclays, General Motors, Holdings, ALC, Apple, Apple's Worldwide Developer's Conference, Will Apple, Walmart, D.A Locations: OW, Palo Alto, U.S

☆ Wednesday, May 15, 2024: Cramer says this mega-cap stock still faces 'existential' threat from AI
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: 1 min

Wednesday, May 15, 2024: Cramer says this mega-cap stock still faces 'existential' threat from AIJim and Jeff discuss the latest moves in this consumer retail stock. They also talk about the AI event from this mega cap tech stock. Finally, they discuss the uncertainty around this consumer retail stock.

Persons: Cramer, Jim, Jeff

☆ Treasury yields fall ahead of fresh consumer inflation figures
▼ + stars: | 2024-05-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last at 4.8061% after falling by over one basis point. U.S. Treasury yields were lower on Wednesday is investors considered the outlook for inflationary pressures and awaited the latest consumer price index data. The producer price index for April, which tracks wholesale prices, came in higher than expected on Tuesday. This comes ahead of the consumer price index for April which is expected to be released Wednesday. On an annual basis, inflation is anticipated to slow slightly to 3.4% from 3.5% in March.

Persons: Dow Jones, Jerome Powell Organizations: Treasury, Investors, Labor Department's Bureau of Labor Statistics, PPI, Core CPI

☆ Oil prices slip as International Energy Agency cuts demand growth forecast
▼ + stars: | 2024-05-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: 1 min

Crude oil futures edged lower Wednesday as the International Energy sees global demand growing less than originally forecast this year. World oil demand is forecast to grow by 1.1 million barrels per day this year, down 140,000 bpd from last month's projection as demand in developed economies softened in the first quarter, according to an IEA report. Here are today's energy prices:Global crude inventories surged in March by 34.6 million barrels as trade disruptions pushed oil on water to a post pandemic high, according to the IEA. Oil deliveries have been rerouted this year due to attacks by Yemen-based Houthi militants on shipping through the Red Sea. Inventories continued to build in April as oil on water was discharged to land, leading to an increase in onshore stockpiles, according to the IEA.

Persons: Brent Organizations: International Energy, IEA Locations: Yemen

☆ Netflix to stream Christmas Day NFL games for three years
▼ + stars: | 2024-05-15 | by ( Jacob Pramuk | ) www.cnbc.com time to read: +1 min

Netflix will stream Christmas Day NFL games for the next three years, in its first true step into live sports. The streaming platform will show two games on Christmas Day this year, followed by at least one matchup in both 2025 and 2026, the league announced Wednesday. It is unclear how much Netflix paid for the rights to stream the games. Now, Netflix will stream games for the most watched U.S. sports league, at a time when it is trying to boost profits by raising subscription prices, pushing users toward an ad-tier membership and cracking down on password sharing. The three Christmas Day NFL games averaged 28.68 million viewers last year, according to Sports Media Watch.

Persons: Mike Tyson, Jake Paul, We've, Ted Sarandos, Sarandos Organizations: Netflix, NFL, Sports Media Watch Locations: Los Angeles

☆ Inflation eases in April with consumer prices rising 3.4% from a year ago
▼ + stars: | 2024-05-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department's Bureau of Labor Services reported Wednesday. Excluding food and energy, the key core inflation reading came in at 0.3% monthly and 3.6% on an annual basis, both as forecast. The core 12-month inflation reading was the lowest since April 2021. Futures traders raised the implied probability that the Federal Reserve would start cutting interest rates in September. That figure is adjusted for seasonality but not inflation, suggesting consumers did not keep up with the pace of price increases.

Persons: Dow Jones Organizations: Labor Department's Bureau of Labor Services, Markets, Treasury, Federal Reserve

☆ Netflix inks a 3-year deal with the NFL to show football games
▼ + stars: | 2024-05-15 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Netflix announced a three-season deal with the NFL. The streamer will show two NFL games on Christmas this year. AdvertisementNo more wondering if Netflix is going to show real live sports: The streamer now has a three-season deal with the most popular sports league in America — the NFL. Netflix will show two NFL games on Christmas Day this year, plus "at least one" game on Christmas in 2025 and 2026, the company and the NFL announced Wednesday. The deal will cost Netflix "less than $150 million per game," Bloomberg reports.

Persons: — Organizations: Netflix, NFL, Service, America —, Bloomberg, Business Locations: America

☆ Young Thai activist’s death in detention after 65-day hunger strike sparks calls for justice reform
▼ + stars: | 2024-05-15 | by ( Helen Regan | Kocha Olarn | ) edition.cnn.com time to read: +7 min

She had been in jail since January 26 and was awaiting trial, according to legal advocacy group Thai Lawyers for Human Rights. While in detention, Netiporn went on a 65-day hunger strike until April to protest the jailing of political dissidents without bail, the group said. Panu Wongcha-Um/Reuters/FileThe activist faced seven criminal cases, including two lese majeste charges. Those attending included Panusaya “Rung” Sithijirawattanakul, a fellow activist who also faces lese majeste charges for her involvement in the 2020 protests. At least 270 people have been charged with lese majeste during that time, the group added.

Persons: Thailand’s, ”, “, Netiporn, Thalu Wang, Thais, Panu, Panusaya, lese, Srettha Thavisin, Srettha, Strettha, Mongkol Thirakhot, majeste, Akarachai Chaimaneekarakate, Akarachai Organizations: CNN, ” Thailand’s Corrections Department, Thammasat University Hospital, Thai Lawyers for Human Rights, Thai Corrections Department, Bangkok Criminal Court, Thailand’s Ministry, Justice, Rights, United Nations Human Rights Council, European Union Locations: Bangkok, Thailand, Thai, lèse

☆ Stocks making the biggest moves premarket: AMC, GameStop, Boeing, Dell and more
▼ + stars: | 2024-05-15 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

AMC Entertainment , GameStop — AMC and GameStop shares posted fell in early morning trading as momentum fizzled from the meme stock craze , which was reignited Monday by a social media reappearance from "Roaring Kitty." GameStop shares slid 6%. Boeing — The airplane manufacturer's shares slid 1.1% after the Justice Department said Boeing violated a 2021 settlement related to its two fatal 737 Max crashes, exposing the company to potential U.S. prosecution. SunPower — The solar stock dropped 22.3%, giving back some of its 59% surge from the prior session. On Wednesday, however, Wolfe Research downgraded the stock underperform from peer perform, noting SunPower the "most extreme example of the meme stock resurgence" within clean technology names.

Persons: Lien, Max, Nio, Dell, Morgan Stanley, Wolfe, —, Alex Harring, Fred Imbert, Jesse Pound Organizations: AMC Entertainment, GameStop, AMC, Boeing, Justice Department, JPMorgan, White House, Wolfe Research Locations: China

☆ US inflation slowed in April, providing a glimmer of hope for weary Americans
▼ + stars: | 2024-05-15 | by ( Alicia Wallace | ) edition.cnn.com time to read: +1 min

CNN —After a hot start to 2024, inflation cooled back down in April, providing a bit of hope for Americans worn down by elevated prices. On a monthly basis, prices rose 0.3%, a slower pace of growth than the 0.4% seen in the two months prior. Rising gasoline and shelter costs accounted for more than 70% of the monthly increase in overall inflation, according to the report. Wednesday’s report landed mostly in line with economists’ expectations, which is a welcome turnabout from January, February and March, when CPI (and other inflation gauges) came in hot, hot, hot. The Federal Reserve has been wanting to see meaningful process on inflation before it starts trimming back interest rates.

Persons: Wednesday’s Organizations: CNN, Bureau of Labor Statistics, CPI, Federal Reserve

☆ European markets set for higher open ahead of key U.S. inflation data
▼ + stars: | 2024-05-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European markets are heading for a higher open Wednesday as global investors look ahead to the latest U.S. inflation print. Traders are hoping that a return to Federal Reserve rate hikes is largely off the table despite a recent slew of hotter-than-expected inflation prints. On Tuesday, April's producer price index came in higher than economists' expectations, dampening expectations that the Fed would begin cutting rates later this year. Fed Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected, likely keeping interest rates elevated for an extended period. Asia-Pacific markets were mostly higher overnight, tracking Wall Street gains on Tuesday that saw the Nasdaq Composite index hit a fresh record closing high despite the strong inflation data.

Persons: Jerome Powell Organizations: Traders, Federal, Fed, Nasdaq Locations: Asia, Pacific

☆ Senators Propose $32 Billion in Annual A.I. Spending but Defer Regulation
▼ + stars: | 2024-05-15 | by ( Cecilia Kang | David Mccabe | ) www.nytimes.com time to read: +1 min

A bipartisan group of senators released a long-awaited legislative plan for artificial intelligence on Wednesday, calling for billions in funding to propel American leadership in the technology while offering few details on regulations to address its risks. Innovation in Artificial Intelligence,” the Senate leader, Chuck Schumer, and three colleagues called for spending $32 billion annually by 2026 for government and private-sector research and development of the technology. But they said congressional committees and agencies should come up with regulations on A.I., including protections against health and financial discrimination, the elimination of jobs, and copyright violations caused by the technology. “It’s very hard to do regulations because A.I. is changing too quickly,” Mr. Schumer, a New York Democrat, said in an interview.

Persons: Chuck Schumer, ” Mr, Schumer, “, ” Organizations: Intelligence, New, New York Democrat Locations: New York

☆ Singapore law professor discusses biggest challenges the country's new prime minister will face
▼ + stars: | 2024-05-15 | 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 EmailSingapore law professor discusses biggest challenges the country's new prime minister will faceEugene Tan, associate professor of law at Singapore Management University, discusses the issues that incoming Singapore Prime Minister Lawrence Wong will have to address. Wong will be sworn in on Wednesday.

Persons: Eugene Tan, Lawrence Wong, Wong Organizations: Singapore, Singapore Management University

☆ Europe must avoid ‘disaster’ of trade decoupling as it eyes China tariffs, EU's economics chief says
▼ + stars: | 2024-05-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

The European Union must avoid a harmful decoupling of global trade as it mulls tariffs on Chinese electric vehicles and other goods, the bloc's economic chief said Wednesday. "But this is not bringing us to a theory of decoupling of global trade, which would be a disaster for both parts of the decoupling," he said. "The characteristic of the EU economy is to be more open, more influenced by trade, and less by only internal consumption. This is the reason, the economic reason, why it is in the interest of the European Union to keep the doors of trade open." Meanwhile, several EU nations are nervous about potential Chinese retaliatory trade measures hitting important domestic industries, from German automotives to French cognac.

Persons: Paolo Gentiloni, CNBC's Silvia Amaro, Gentiloni Organizations: European, European Union, CNBC Locations: European Union, Europe, China, EVs, U.S, Russia, Ukraine

☆ Sony-backed computing startup heads for rare IPO in sidelined London stock market
▼ + stars: | 2024-05-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

British computing startup Raspberry Pi on Wednesday said it plans to list in London, in a rare win for the U.K. stock market. Raspberry Pi, which makes tiny single-board computers, is considering an initial public offering on the main market of the London Stock Exchange. The IPO is a win for the London stock market, which has been struggling to attract high-growth tech companies. A slew of major U.K. tech firms have chosen New York over London for their listings over the last year. Upton established Raspberry Pi in 2012 to make computing more accessible to young people, gaining traction among hobbyists and teachers in the early days.

Persons: Ocado, Eben Upton . Raspberry Pi, Upton, Raspberry Organizations: London Stock Exchange, Nasdaq, Sunday Telegraph, Sky News, Raspberry Pi Foundation, Sony, amortization Locations: London, New York, British

☆ Macron Moves to Declare State of Emergency in New Caledonia
▼ + stars: | 2024-05-15 | by ( Cassandra Vinograd | ) www.nytimes.com time to read: +1 min

President Emmanuel Macron of France convened a crisis meeting on Wednesday and moved to declare a state of emergency in New Caledonia after deadly riots in the semiautonomous French Pacific territory that has long sought independence. A vote in France’s Parliament approving the amendment on Tuesday ignited riots overnight that left three people dead. Mr. Macron met Wednesday with his Defense and National Security Council about the situation, according to a statement from his office. It said he had expressed “strong emotion” over the deaths and gratitude to French security forces. It also said he had requested that a state of emergency be declared for the territory at the afternoon cabinet meeting.

Persons: Emmanuel Macron, Macron Organizations: Defense, National Security Council Locations: France, New Caledonia

☆ Burberry’s profit slumps by a third as sales in China plunge
▼ + stars: | 2024-05-15 | by ( ) edition.cnn.com time to read: +2 min

London — British luxury brand Burberry has reported a 34% drop in annual profit after sales fell sharply in China — its biggest market — in the final three months of last year. The company had previously warned that achieving its goal of taking the 168-year-old brand further upmarket, to become the definition of “Modern British Luxury,” had been harder than expected after demand for luxury had slowed. Sales fell 12% in the final quarter, dragged down by a 19% slump in China, and wiping out gains made earlier in the year, Burberry said Wednesday. Sales in London, its home market, declined 17%, which Chief Executive Jonathan Akeroyd blamed on a lack of tax-free shopping for tourists. The world’s largest luxury group, Louis Vuitton owner LVMH, also reported weak sales in its latest quarter as spending on luxury items slowed.

Persons: ”, Burberry, Jonathan Akeroyd, ” Akeroyd, Akeroyd, Hermes, Prada, Kerring, Louis Vuitton, LVMH, Daniel Lee Organizations: London, Burberry, London Fashion Locations: China, London, Paris, Europe, British, Burberry’s, Americas

☆ Live Updates: Inflation Cooled Slightly, Offering Some Relief for Consumers and the Fed
▼ + stars: | 2024-05-15 | by ( Ben Casselman | ) www.nytimes.com time to read: +6 min

But economists cautioned that one month of encouraging data was far from enough to set those worries to rest. Both overall and core prices rose 0.3 percent from the previous month, down from 0.4 percent in February and March. The encouraging inflation report on Wednesday is unlikely to change those expectations. The report is also likely to be met with relief at the White House after what has been a rough recent run of inflation data for President Biden. Gasoline prices rose a seasonally adjusted 2.8 percent in April from March.

Persons: “, ”, Stephen Stanley, there’s, Sarah House, Biden, Jerome H, Powell, we’re, Blerina Uruci, Rowe Price, Jeanna Smialek, Jim Tankersley Organizations: Labor Department, Federal Reserve, Santander, White, Federal Reserve Bank of New, Fed Locations: Wells Fargo, Amsterdam, Federal Reserve Bank of New York

☆ Biden issues a challenge to Trump as he withdraws from traditional debate dates
▼ + stars: | 2024-05-15 | by ( Betsy Klein | Michael Williams | ) edition.cnn.com time to read: +2 min

In the letter, the campaign proposed debate dates in June and September. CNN has reached out to the Trump campaign and the committee for comment. In recent public appearances, Trump has seemed eager to debate Biden – he set up an empty lectern at a campaign rally in Wisconsin early last month in a taunt to Biden. The Commission on Presidential Debates announced dates for three presidential debates last November. The campaign also proposed that a vice presidential debate take place in late July after the Republican Party nominates its candidate for that position.

Persons: Joe Biden’s, Donald Trump, Biden, “ Donald Trump, ” Biden, I’ll, Donald –, Biden’s, Trump, Biden –, “, Joe, ” Trump, Jen O’Malley Dillon, ” Organizations: Washington CNN, CNN, Presidential, Republican Party Locations: Wisconsin, Green Bay, Texas, Virginia, Utah

☆ Gold prices flat as U.S. inflation data takes centre-stage
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +2 min

Gold prices traded flat on Wednesday as investors looked forward to a critical U.S. inflation print that could offer clues on the Federal Reserve's interest rate-cut trajectory. Spot gold held its ground at $2,359.99 per ounce, as of 0704 GMT, trading in a narrow $6 range, after gaining 1% on Tuesday. According to a Reuters poll, the data is expected to show that core inflation in April rose 0.3% month-over-month, down from 0.4% the prior month. Bullion is known as an inflation hedge, but higher rates increase the opportunity cost of holding non-yielding gold. However, data on Tuesday showed that U.S. producer prices increased more than expected in April.

Persons: Kyle Rodda, Bullion, Jerome Powell Organizations: Fort, BHP Group Locations: Fort Knox Alaska, Kinross, Tetlin , Alaska, ., U.S, American

☆ Walgreens to offer its own cheaper version of opioid overdose reversal drug naloxone
▼ + stars: | 2024-05-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Walgreens on Wednesday said it will offer its own cheaper version of the over-the-counter opioid overdose reversal spray naloxone. The company said it will sell a two-dose pack of "Walgreens Brand Naloxone" for $34.99. That's around $10 cheaper than the over-the-counter branded drug Narcan, which became the first prescription-free version of naloxone to win Food and Drug Administration approval last year. The company said the launch of its prescription-free naloxone nasal spray comes after the FDA's recent approval of the product. Mammen hopes that Walgreens can help reduce the stigma associated with drug overdoses and naloxone use.

Persons: naloxone, Priya Mammen Organizations: Walgreens, Centers for Disease Control, Food, Drug, CNBC Locations: U.S

☆ Inflation slightly cooled off in April as expected
▼ + stars: | 2024-05-15 | by ( Madison Hoff | ) www.businessinsider.com time to read: +1 min

The Consumer Price Index increased 3.4% year over year in April, just below March's rise of 3.5%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInflation in the US is still above 3%, new Consumer Price Index data released on Wednesday suggested, but cooled off slightly in April. The Consumer Price Index or CPI, an inflation measure, climbed 3.4% from April 2023 to this past April. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Service, Index, Business Locations: Investing.com

☆ Overdose Deaths Dropped in U.S. in 2023 for First Time in Five Years
▼ + stars: | 2024-05-15 | by ( Jan Hoffman | ) www.nytimes.com time to read: 1 min

Overdose deaths in the United States declined slightly last year, the first decrease in five years, according to preliminary federal data released Wednesday. Even as opioid deaths fell, deaths from stimulants such as cocaine and methamphetamine rose. And some states, including Oregon and Washington, continued to experience sharp rises in overall overdose fatalities. Drug overdoses overall in 2023 were estimated at 107,543, down from 111,029 in 2022, a 3 percent drop. Opioid deaths fell 3.7 percent while deaths from cocaine rose 5 percent and deaths from meth rose 2 percent.

Organizations: National Center for Health Statistics Locations: United States, Oregon, Washington

☆ Dollar droops to one-month low vs euro before key CPI test
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the new £10 note is seen alongside euro notes and U.S. dollar bills on Oct. 13, 2017 in Bath, England. The euro edged up 0.03% to $1.0823 in Asian trading hours, and earlier rose to $1.0828 for the first time since April 10. The dollar edged back 0.12% to 156.245 yen on Wednesday, but had pushed as high as 156.80 overnight. The dollar dropped 0.24% to 7.2232 yuan in offshore trading, after reaching the highest since May 1 at 7.2460 overnight. The New Zealand dollar climbed 0.37% to $0.6062, and earlier touched $0.6064 for the first time since April 10.

Persons: Alan Ruskin, Jerome Powell, Tony Sycamore, Joe Biden's Organizations: Reserve, U.S, Treasury, Deutsche Bank, Bank of Japan, CPI, IG, Australian, New Zealand Locations: Bath, England, U.S, China

☆ Chuck Schumer and bipartisan group of senators unveil plan to control AI – while investing billions of dollars in it
▼ + stars: | 2024-05-15 | by ( Brian Fung | ) edition.cnn.com time to read: +3 min

It also instructs multiple Senate committees to come up with guardrails for AI to address some of its biggest risks, such as AI-enabled discrimination, job displacement and election interference. “Harnessing the potential of AI demands an all-hands-on-deck approach and that’s exactly what our bipartisan AI working group has been leading,” Schumer said Wednesday. “This roadmap represents the most comprehensive and impactful bipartisan recommendations on artificial intelligence ever issued by the legislative branch,” Young said Wednesday. Schumer has described regulating artificial intelligence as a challenge for Congress unlike any other, vowing a swift timeline measured in months, not years. But policy analysts, and some congressional aides, doubt whether Congress can pass significant legislation regulating AI in an election year.

Persons: Chuck Schumer, Schumer, ” Schumer, New Mexico Democratic Sen, Martin Heinrich, Republican Sens, Mike Rounds, Todd Young, ” Young, ” Organizations: CNN, European Union, National Security, Artificial Intelligence, New, New Mexico Democratic, Republican, South, Todd Young of Indiana, EU Locations: New York, New Mexico, South Dakota

Search resuls for: "Wednesday"

25 mentions found