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☆ Novo Nordisk strikes deal worth up to $1.1 billion to expand cardio business
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: +1 min

A view of the logo of Novo Nordisk at the company's office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024. Denmark's Novo Nordisk said on Monday it had agreed to buy Cardior Pharmaceuticals for up to 1.03 billion euros ($1.1 billion) to strengthen its cardiovascular pipeline. The deal is in line with Novo's aim to expand its focus on diabetes and weight-loss therapies to include cardiovascular disease treatments. The Danish company has rocketed to become one of the world's most valuable companies on the back of its hugely popular weight-loss treatment Wegovy. The deal includes Cardior's lead compound CDR132L, currently in intermediate Phase II clinical trials for the treatment of heart failure, Novo said.

Persons: Novo, CDR132L Organizations: Novo Nordisk, Denmark's, Nordisk, Cardior Pharmaceuticals Locations: Bagsvaerd, Copenhagen, Denmark, Danish, Novo

☆ Japan’s Labor Market Has a Lesson for the Fed: Women Can Surprise You
▼ + stars: | 2024-03-19 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

But there’s another, longer-running trend happening in the Japanese economy that could prove interesting for American policymakers: Female employment has been steadily rising. Working-age Japanese women have been joining the labor market for years, a trend that has continued strongly in recent months as a tight labor market prods companies to work to attract new employees. The jump in female participation has happened partly by design. Since about 2013, the Japanese government has tried to make both public policies and corporate culture more friendly to women in the work force. The goal was to attract a new source of talent at a time when the world’s fourth-largest economy faces an aging and shrinking labor market.

Organizations: Bank of Japan

☆ MicroStrategy shares up 180% this year after debt sale to buy more bitcoin spurs latest rally
▼ + stars: | 2024-03-13 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Michael Saylor, chairman and CEO of MicroStrategy, speaks during the Bitcoin 2022 conference in Miami on April 7, 2022. Saylor told CNBC's "Squawk Box" on Monday that bitcoin is going to "eat gold." "The price of bitcoin is going to have to adjust up in order to meet that investor demand," Saylor said. MicroStrategy said in the release that it "used the net proceeds from the sale of the notes to acquire additional bitcoin." As of Monday, Canaccord's analysis showed that MicroStrategy's equity value premium over its bitcoin holdings was 86%.

Persons: Michael Saylor, Saylor, CNBC's, bitcoin, MicroStrategy, Canaccord, MicroStategy Organizations: MicroStrategy, BTC, CNBC Locations: Miami, bitcoin

☆ Cryptocurrencies recover after bitcoin retreats from new record
▼ + stars: | 2024-03-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

On Tuesday bitcoin reached a new intraday record , for the first time since November 2021, of $69,210. It had been pushing higher for weeks – it's up 55% over the past month – and tumbled shortly after notching the new high. Bitcoin was last higher by 6% at $66,315.19, according to Coin Metrics, while ether rocketed more than 11% to $3,785.76, its highest level since January 2022. Cryptocurrencies bounced on Wednesday, recovering much of the losses from the previous day's sell-off, which came soon after bitcoin hit an all-time high. When traders use leverage to short bitcoin and the cryptocurrency's price rises, they buy bitcoin back from the market to close their positions, which pushes the price up and causes more positions to be liquidated.

Persons: bitcoin, –, Bitcoin, Cryptocurrencies, David Wells, Binance, Shiba, Microstrategy Organizations: Metrics, Solana, Marathon Digital, CNBC PRO

☆ FTC Chair Lina Khan takes victory lap on blocking Nvidia-Arm merger
▼ + stars: | 2024-02-27 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Federal Trade Commission Chair Lina Khan speaks during the New York Times annual DealBook Summit in New York City on Nov. 29, 2023. Federal Trade Commission Chair Lina Khan cited the surging stock prices of Nvidia and Arm as an example of how blocking mergers can lead to increased innovation. The evidence, Khan said, is in the company stock prices. Nvidia's value has nearly tripled mostly on the strength of sales of its AI chips for servers such as the A100 and H100. Arm stock has more than doubled since the company went public in August 2023, although SoftBank still owns 90% of the company's shares.

Persons: Lina Khan, Khan, SoftBank Organizations: Federal Trade, New York Times, Nvidia, Bloomberg, FTC, Apple, Google, Qualcomm, Investors, CNBC PRO Locations: New York City, U.S, Europe, Asia

☆ Distress soared 440% in a key corner of the commercial real estate debt market in the last year
▼ + stars: | 2024-02-26 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: 1 min

Distress in a corner of the commercial mortgage market rose 440% in the last year. Loans packaged into commercial real estate CLOs saw a big uptick in distress. Distress levels in an important corner of the commercial real estate debt market have rocketed higher in the last year. Commercial mortgages packaged into collateralized loan obligations and sold to investors as bonds saw a distress rate of 8.6% in January, marking a huge jump from the beginning of 2023 when the rate was 1.4%. The amount of outstanding loans packaged into CLOs is about $80 billion, according to a report by data and analytics firm CRED iQ.

Persons: CLOs Organizations: CLOs, Business

☆ Novo Nordisk and Eli Lilly rival soars 32% after promising weight-loss drug results
▼ + stars: | 2024-02-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Vials move along a conveyor at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Monday, June 12, 2023. Shares of Denmark's Zealand Pharma rocketed higher, after the company posted strong results from a trial of a liver disease treatment that has been touted as a potential competitor in the booming weight-loss drug market. The drug has "demonstrated efficacy" in people with obesity and is currently undergoing five Phase-3 trials in a clinical program for people who are overweight or obese. Analysts latched onto the drug's possible efficacity in obesity research following the latest test results, which indicated the safety of the top dosage used in that trial. Several other firms, including Eli Lilly, Roche and AstraZeneca, also seek to compete in the sector.

Persons: Ozempic, Eli Lilly, Roche Organizations: Novo Nordisk, pharma, Denmark's Zealand Pharma, U.S . Food, Drug Administration, Zealand Pharma, Nordisk, AstraZeneca Locations: Hillerod, Denmark, U.S, London, Danish

☆ Is it too late to buy Nvidia shares? Here's what Wall Street says
▼ + stars: | 2024-02-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

The bank increased its price target for Nvidia to $820 from $575 in a Feb. 22 note. TD Cowen said in a Feb. 21 note that the company is likely to maintain strong data center growth in the coming years. It raised its price target for Nvidia from $800 to $925. Luria only has a neutral rating for Nvidia, giving it a $410 price target — implying a 47% downside. Bottomline: According to FactSet, analysts covering Nvidia gave it a 93% buy rating, with an average price target of $850.97, implying upside of 8.4%.

Persons: Jeff Pu, CNBC's, TD Cowen, BofA, Gil Luria, D.A, Davidson, Luria, — CNBC's Michael Bloom Organizations: Nvidia, Citi, Haitong, Apple, NVIDIA, Microsoft, Google, AMD, Intel Locations: BofA

☆ Girls to the Front: Olivia Rodrigo’s Fans Show Up in Force
▼ + stars: | 2024-02-26 | by ( Ok Mccausland | ) www.nytimes.com time to read: 1 min

Olivia Rodrigo shot to pop stardom pretty much overnight: Her first single, “Drivers License,” rocketed to No. 1 in January 2021 while most of the world was still in coronavirus lockdown, making her the youngest artist to debut atop Billboard’s Hot 100 chart. In April of the following year, she finally brought her songs to life onstage with her punky Sour Tour, which played theaters, though she could have easily sold out arenas. Now she has done just that: Her tour supporting her second album, the cathartic, rock-oriented LP “Guts,” kicked off last Friday night at Acrisure Arena in Palm Desert, Calif., with a performance “advertising the power of girlhood,” The Times pop music critic Jon Caramanica wrote in his review. The venue, and its parking lot, was filled with young women ready to receive the message.

Persons: Olivia Rodrigo, rocketed, ”, Jon Caramanica Organizations: Acrisure Locations: Palm Desert, Calif

☆ The 10 most deeply discounted electric cars right now
▼ + stars: | 2024-02-25 | by ( Nora Naughton | ) www.businessinsider.com time to read: +2 min

Discounts are getting bigger after it got harder to qualify for the $7,500 tax credit. In order to deal with a slowdown in demand for big, expensive electric cars — and dwindling federal incentives — dealers and manufacturers are pouring on discounts. By the end of last year, electric cars were seeing some of their highest discounts ever, according to Kelley Blue Book. Changes to requirements for a $7,500 electric vehicle tax credit have also put more responsibility on the dealer and the manufacturer to discount prices. We asked Edmunds for a list of the most discounted electric cars in January.

Persons: —, Elon, Kelley, Edmunds Organizations: EV, Service, Tesla

☆ Bidders Chase Elton John Memorabilia and a Banksy in First Week of Sales
▼ + stars: | 2024-02-23 | by ( Julia Halperin | ) www.nytimes.com time to read: +1 min

More than 3,500 people from 34 countries registered for the chance to bid on the superstar Elton John’s rocket-shaped cocktail shakers, ornate jumpsuits, and black-and-white fashion photography at Christie’s “Goodbye Peachtree Road” auction this week. Two sales over three days featuring the celebrated musician’s belongings rocketed to $14.4 million, with auction-house fees, outperforming the high estimate of $11.3 million. Bidders vied for silver leather platform boots the singer wore throughout the 1970s (they sold for $94,000, more than nine times the high estimate) and an 18-karat gold Rolex watch with a leopard-print dial (it fetched $176,400, about three times the high estimate). Most of the remaining auctions will take place online through Feb. 28, including sales of John’s celebrity portraits, jewelry and Versace clothes. With six online sales to go, the collection has already exceeded the original (and perhaps conservative) expectation of $10 million set by Christie’s.

Persons: Elton John’s, rocketed, John, David Locations: Peachtree, Atlanta

☆ German central bank losses soar, wiping out risk provisions
▼ + stars: | 2024-02-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

Losses incurred by the German central bank rocketed into the tens of billions in 2023 due to higher interest rates, requiring it to draw on the entirety of its provisions to break even. That leaves it with just under 700 million euros in reserves, the central bank said. Net interest income was negative for the first time in its 57-year history, declining by 17.9 billion euros year-on-year to -13.9 billion euros. They are likely to exceed the remaining reserves," Bundesbank President Joachim Nagel said in a press conference. The central bank will report a loss carryforward that will be offset through future profits, he said.

Persons: Joachim Nagel, Nagel Organizations: Deutsche Bundesbank Locations: Frankfurt, Germany, German, rocketed

Nvidia CEO Jensen Huang speaks at the Supermicro keynote presentation during the Computex conference in Taipei on June 1, 2023. Nvidia shares are up more than 200% over the past 12 months due to seemingly limitless demand for its AI chips, which underpin powerful AI models from Google, Amazon, OpenAI and others. TuSimple, an autonomous trucking company, rocketed 40% on Thursday after the disclosure of Nvidia's $3 million stake. Nvidia bought $50 million worth of shares in 2023 and now has an investment worth $76 million, according to its filing. In recent years, Nvidia has backed hot AI startups including Cohere, Hugging Face, CoreWeave and Perplexity.

Persons: Jensen Huang, SoundHound, TuSimple, what's, Nvidia's, they're, Jonathan Cohen Organizations: Nvidia, Investors, Apple, Microsoft, Google, Zebra, Nasdaq, Committee Locations: Taipei, U.S, SoundHound, TuSimple

BANGKOK (AP) — Shares rose in Asia on Thursday after Wall Street stocks recovered much of their sharp losses from a day before. On Wednesday, the S&P 500 climbed 1% to 5,000.62, clawing back more than two-thirds of its loss from Tuesday. It was the single strongest force lifting the S&P 500 index. Most companies in the S&P 500 have been topping analysts’ forecasts for the last three months of 2023. Hopes for stronger growth in 2024 from a solid economy have been another reason the S&P 500 has set 10 records already this year.

Persons: Australia's, Taiwan’s Taiex, India's Sensex, Russell, Lyft, Airbnb Organizations: Wall, Bank of Japan, Nikkei, Reserve, Dow Jones Industrial, Nasdaq, Treasury, Nvidia, Technologies, Akamai Technologies, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Seoul, Japan, Britain, China, Germany, Hong Kong, Bangkok, Italy, U.S

☆ Stocks making the biggest moves midday: Uber, Airbnb, MGM Resorts, Robinhood and more
▼ + stars: | 2024-02-14 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Uber — Uber's shares jumped 11%, climbing to a new 52-week high, after the ride-hailing company announced an inaugural $7 billion share repurchase authorization program. The higher end of the company's full-year earnings per share guidance, $11.40, was also above estimates of $10.83 per share. On Tuesday, DaVita posted earnings of $1.87 per share, ex-items, on $3.15 billion in revenue. Robinhood Markets — Shares of the trading platform jumped 9% after the company posted a surprise earnings and revenue beat. Robinhood posted earnings of 3 cents per share, while analysts expected a 1 cent per share loss, according to LSEG.

Persons: Uber, Uber's, Lyft, IQVIA, Charles River, DaVita, FactSet, Robinhood, Zillow, LSEG, bitcoin, Energy rocketed, CleanSpark, Topgolf Callaway, Akamai, Kraft Heinz, Airbnb, CNBC's Hakyung Kim, Alex Harring, Jesse Pound, Pia Singh, Michelle Fox Organizations: Uber Technologies, Inc, IQVIA Holdings, Charles River Laboratories, Revenue, Miners, Energy, Marathon, MGM Resorts, Hasbro Locations: New York City, FactSet, LSEG, China, Macau, U.S, Detroit

☆ Las Vegas hopes to hit the jackpot with the Super Bowl
▼ + stars: | 2024-02-10 | by ( Alicia Wallace | ) edition.cnn.com time to read: +10 min

CNN —When Super Bowl Sunday rolls around each year — whether it’s in Miami, New Orleans, Los Angeles or Minneapolis — Las Vegas still draws the crowds. It took years — and a Supreme Court ruling legalizing sports betting — for the National Football League to view Las Vegas in a different light. “We’re sold out, have been for the last month,” said Paul Hobson, general manager of the Sahara Las Vegas hotel-casino. “Las Vegas has a lot of people going there for Super Bowl weekend anyway,” Stephenson said. Additionally, the visitors it attracts spend a whole lot more than the ones who would show up on your typical Super Bowl weekend, Hill said.

Persons: they’ve, Steve Hill, ” Hill, “, Hill, We’re, ”, Paul Hobson, It’s, Aaron J, Thornton, famer Michael Irvin, ” Hobson, Noel Bowman, you’re, ” It’s, Bowman’s, “ We’ve, Vince Lombardi, Ethan Miller, Frank Stephenson, ” Stephenson, Kirby Lee, “ We’re, “ That’s, Winston Fisher, David Farris, Café Lola, George Kittle, Travis Kelce, Lin Jerome, Lola, Alexandra Lourdes, “ It’s, Felicia Parker, she’s, Parker, it’s, Harry Reid Organizations: CNN, Minneapolis —, Football, Super, Las Vegas Convention, Visitors Authority, Las Vegas, National Football League, Playmakers Party, FHM, famer, NFL, Sunday, Visitors, Las, Super Bowl, Priceline, Berry College, of Sports Economics, USA, Reuters, Bowl, Business Connect, ”, Harry, Harry Reid International Airport Locations: it’s, Miami , New Orleans, Los Angeles, Minneapolis, Vegas, Sin City, Las Vegas, Sahara, Mandalay Bay, Mount Berry , Georgia

CAPE CANAVERAL, Fla. (AP) — NASA’s newest climate satellite rocketed into orbit Thursday to survey the world’s oceans and atmosphere in never-before-seen detail. SpaceX launched the Pace satellite on its $948 million mission before dawn, with the Falcon rocket heading south over the Atlantic to achieve a rare polar orbit. The satellite will spend at least three years studying the oceans from 420 miles (676 kilometers) up, as well as the atmosphere. Photos You Should See View All 15 ImagesNASA already has more than two dozen Earth-observing satellites and instruments in orbit. NASA is collaborating with India on another advanced Earth-observing satellite due to launch this year.

Persons: It’s, Jeremy Werdell, Pace, “ Pace, Karen St, Germain, Trump, ” Werdell Organizations: SpaceX, Pace, NASA, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: CAPE CANAVERAL, Fla, India

☆ Strong economic growth but high unemployment: A look at Nevada’s economy
▼ + stars: | 2024-02-08 | by ( Alicia Wallace | Tami Luhby | ) edition.cnn.com time to read: +13 min

In Las Vegas, the cacophony of voices, music, ringing slot machines and car horns that typically pulsed through the Las Vegas Strip was replaced by silence, the chirps of birds and the wails of sirens. In tourism-dependent Nevada, the unemployment rate rocketed even higher, topping out at 30.6% that month. “This is an unemployment rate that’s not driven by job losers, this is an unemployment rate driven by job seekers,” he said. Homes under construction in the Summerlin community, on July 31, 2023, in Las Vegas, Nevada. As of December 2023, the Reno metro area’s unemployment rate was just 0.2 percentage points above the nation’s 3.7% rate.

Persons: John Simpson, Steve, Sisolak, ” Simpson, It’s, ”, they’re, I’ve, Stephen M, Miller, Mario Tama, Bob Potts, there’s, There’s, Nevadans, Annie E, Casey Foundation’s, Jamelle Nance, Marty Elquist, ” Elquist, “, Andrew Woods, Nicholas Irwin, Start’s Simpson, Irwin, Ethan Miller, Maurice Page, Page, Tesla, ” Potts, Carolyn Cole, Potts, You’ve, you’ve Organizations: CNN, Las, Republican Party, of Labor Statistics, University of Nevada, Lee Business School’s Center for Business, Economic Research, New York, Nevada Governor’s, Economic, Las Vegas, New, Workforce, Children’s, Alliance of Nevada, Education, Development, Silver State, Center for Business, UNLV, Reno, ”, Homes, Nevada Housing Coalition, Harvard University’s, for Housing Studies, Silver, Means, Reno Industrial Park, Apple, Panasonic, Google, Reno Industrial, Los Angeles Times, NCAA, NFL, NFL Pro Bowl Locations: Nevada, Las Vegas, Reno, ” Nevada, State, New York, New, Las, New Mexico, Vegas, “ Nevada, Silver, UNLV . Nevada, California, Sparks, Las Vegas , Nevada, Florida, Hawaii, Clark County, Sparks , Nevada, New Orleans, Denver, Southern Nevada, Northern Nevada, Los Angeles

☆ SoftBank nets $16 billion on Arm earnings pop, exceeding its total losses in WeWork
▼ + stars: | 2024-02-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Arm shares rocketed as much as 41% late Wednesday after the chip designer reported revenue and earnings that sailed past analysts' estimates. SoftBank took Arm public in September and still owns about 930 million shares, or roughly 90% of the chip designer's outstanding stock. Arm pared its initial gains, but SoftBank's stake still jumped by almost $16 billion — from close to $71.6 billion to $87.4 billion — after the earnings report. Softbank acquired Arm in 2016 for $32 billion, and its shares were worth just over $47 billion at the time of the IPO last year. The Vision Fund, SoftBank's venture arm, posted a $6.2 billion loss in the second quarter of 2023, tied to WeWork and other soured bets.

Persons: Son, Masayoshi Son's SoftBank, SoftBank, Softbank Organizations: Vision Locations: Tokyo, Arm's, WeWork, Alibaba

☆ The Fed shouldn't 'waste' rate cuts now and risk another inflation spike, 'Big Short' investor Steven Eisman says
▼ + stars: | 2024-02-05 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

The Fed shouldn't waste rate cuts right now and risk a resurgence of inflation, "Big Short" investor Steven Eisman said. AdvertisementThe US economy is healthy, which means the Fed shouldn't needlessly cut rates, "The Big Short" investor Steven Eisman said. AdvertisementBut Eisman thinks there's no need for the Fed to cut rates without a significant negative data point. GDP, jobs, and inflation data have all been strong in the past few months. The commercial real estate sector seems to be crumbling, but the office market crash at the center of those gyrations is not big enough to knock down the economy, Eisman said.

Persons: Steven Eisman, —, Powell, redoing Volcker, Eisman, Jerome Powell, Powell's hawkish, It's Organizations: Service, CNBC, Bank of America, Fed

☆ In El Salvador, self-styled ‘world’s coolest dictator’ Nayib Bukele heads for re-election amid human rights concerns
▼ + stars: | 2024-02-03 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +15 min

Employees of the Supreme Electoral Tribunal load boxes containing electoral material for the presidential and legislative elections at the Electoral Organization Directorate in San Marcos, El Salvador, on February 2, 2024. He adopted Bitcoin as legal tender in El Salvador in 2021 and invited the tech-bros of the world to surf in the Pacific. Under Bukele, El Salvador’s homicide rate has plummeted. So, while El Salvador no longer faces record murder rates, it now boasts the highest incarceration rate in the world. Camilo Freedman/AFP/Getty ImagesA tale of two victimsJackelyne Zelaya does not see the enduring state of emergency as a problem.

Persons: Jocelyn Zelaya, ”, Jackelyne, ” Jackelyne Zelaya, Marcela, Jocelyn, Mara Salvatrucha, Zelaya, “, isn’t, Nayib, Yuri Cortez, Bukele, El, Camilo Freedman, Jackelyne Zelaya, won’t, Maria, tipster, Marvin Reyes, EFE, Guillermo Villatoro, Villatoro, Salvadorean Sandra Hernandez, Jose Dimas Medrano, Stringer, ‘, ’, Ilhan Omar, Samuel Rodriguez of MOVIR, “ Bukele, Daniel Noboa, Latinobarometro, she’s, Maria ’, ” Maria Organizations: CNN, World Bank, El, Employees, Electoral, Getty, FMLN, Civil, Justice Department, Army, “, Congress, Police, National Police, Security Ministry, Human Rights, Democratic, Barrios, Washington DC Locations: San Salvador, Zelaya, El Salvador, American, San Marcos, AFP, America, Latin America, United States, New York, El Salvador’s, Santa Ana, El Rosario, Honduras, WOLA, Washington, Ecuador, El

☆ How the U.S. Became the World’s Biggest Gas Supplier
▼ + stars: | 2024-02-03 | by ( Brad Plumer | Nadja Popovich | ) www.nytimes.com time to read: +8 min

Became the World’s Biggest Gas SupplierTop exporters of liquefied natural gas 12 billion cubic feet per day U.S. Qatar 10 Australia 8 6 Russia 4 Malaysia 2 2014 2023 12 billion cubic feet per day United States Qatar Australia 10 8 6 Russia 4 Malaysia 2 2014 2023 Source: S&P Global Note: Data reflects annual average liquefied natural gas exports by country. But climate activists worry that soaring exports of liquefied natural gas could make global warming worse. In the early 2000s, natural gas was relatively scarce at home, and companies were spending billions of dollars to build terminals to import gas from places like Qatar and Australia. In the mid-2000s, U.S. drillers perfected methods to unlock vast reserves of cheap natural gas from shale rock. The process of making and shipping liquefied natural gas adds complexity and cost, but if the difference between U.S. natural gas prices and overseas prices is big enough, it is profitable.

Persons: Biden, Fracking, ”, Kenneth Medlock, —, Ben Cahill Organizations: U.S, drillers, Cheniere Energy, Center for Energy Studies, Rice University, “, Asia, Department of Energy, Energy Department, . Energy, Energy Information Administration, Clearview Energy Partners, Center for Strategic, International Studies Locations: U.S, Qatar, Australia, Russia, Malaysia, United States Qatar Australia, United States, Japan, Europe, Asia, Ukraine, China, India, Pakistan, Bangladesh, Vietnam, Texas , Louisiana, Maryland, Georgia, Mexico

☆ AI server maker Super Micro boosts sales guidance — another sign to stick with Nvidia
▼ + stars: | 2024-01-30 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Super Micro makes computer servers for data centers, competing with the likes of Dell and Hewlett-Packard Enterprise . SMCI 1Y mountain Super Micro Computer 1 year Shares of Super Micro were on pace for a record close Tuesday, jumping 4%, to nearly $515 each — pushing year-to-date gains to roughly 80%. Still, the magnitude of Super Micro stock move Tuesday, compared to the size of the forecast revision, is a sign that investor expectations had already accounted for most of this good news. "I don't know whether [Super Micro] is Mercury or Venus, but I will tell you it ain't Pluto." Super Micro said it continued to see record demand for AI systems in its second quarter.

Persons: —, Jim Cramer, Thursday's, preannounced, Jim Cramer's, Jim, Tyrone Siu Organizations: chipmaker, Dell, Hewlett, Packard, Devices, Intel, Nvidia, AMD, Computer, Micro, Microsoft, Super Micro, Wall, Taiwan Semiconductor Manufacturing Company, CNBC, Nvidia Corporation Locations: San Jose , California, Taipei, Taiwan

☆ How Stanley went from making sturdy bottles for laborers to becoming an 'it' status symbol, and causing chaos at Target stores across the US
▼ + stars: | 2024-01-27 | by ( Grace Dean | ) www.businessinsider.com time to read: +10 min

"Every time we linked it, it would sell out so quickly," LeSueur told The New York Times. The Buy Guide had to pay for warehouse space and shipping and handling fees, but was allowed to keep the profits, The Times reported. "It was a big risk," LeSueur told CNBC. AdvertisementThe Buy Guide placed another wholesale order for 5,000 – and they sold out in an hour, Retail Dive reported. Reilly told CNBC that Stanley was making more products available with each drop but still wanted "a little bit of scarcity" to create a buzz.

Persons: —, Stanley, They've, Alphas, William Stanley Jr, Grace Dean, restocking, Ashlee LeSueur, Taylor Cannon, Linley Hutchinson —, LeSueur, Emily Maynard, Maynard, Terence Reilly, Reilly, he'd, Crocs, Frederic J . Brown, TikTokers, Bon Appétit, Stanley's Quenchers, Lainey Wilson, aren't, Gen Zers, Alpha, Casey Lewis, Lewis, –, Zers, they'll, Grace Mary Williams, it's, Kaitlin Gostel, Barnes, Noble, Harry Potter, Gostel, I've Organizations: Service, Business, Instagram, New York Times, CNBC, Times, The Times, Wall Street, Getty, Target, Starbucks Locations: Brooklyn, workdays, Crocs, AFP, Pendleton

TOKYO (AP) — Asian shares were mostly higher on Thursday, with Chinese stocks extending gains after Beijing announced a raft of policies to support sagging markets. Late Wednesday, the Chinese central bank announced a set of rules to govern lending to property developers. Earlier, it said it would cut bank reserve requirements to put about 1 trillion yuan ($141 billion) into the economy. The Chinese economy has slowed, with growth forecast below 5% this year, its lowest level since 1990 excluding the years of the COVID-19 pandemic. The yield on the 10-year Treasury rose to 4.17% from 4.14% late Tuesday.

Persons: Sydney's, Brent Organizations: TOKYO, Beijing, Shanghai, China Evergrande Holdings, Nikkei, Bank of Japan, Nasdaq, Dow Jones, Federal Reserve, Treasury, Fed, Global, U.S Locations: Hong Kong, Tokyo, Seoul . U.S, Shanghai, U.S

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