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☆ Nvidia’s wild ride in 2024 is boosting insiders’ wealth. What it could mean for employees holding the stock
▼ + stars: | 2024-06-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

The stock's rise has been a boon to employees and insiders at the chip company who own shares. So-called RSUs provide workers with shares at a future date following a vesting period of typically three to five years. Employers can also offer incentive stock options, which allow employees to buy a specified number of shares at a stated – or strike – price. Workers who exercise their ISOs are also subject to capital gains taxes when they sell the stock they've purchased. Nonqualified stock options are another form of equity compensation.

Persons: Tench Coxe, Blair duQuesnay, they're, Albert J, Campo, – Organizations: Nvidia, Securities and Exchange Commission, Ritholtz Wealth Management, CNBC's, Employees, Workers, CPA, Campo Financial Locations: New Orleans, Freehold , New Jersey

☆ Mega-cap stocks are overvalued and risk a big correction, according to a CIO. Here's why that presents a 'monstrous' buying opportunity.
▼ + stars: | 2024-06-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The stock market's leaders are overvalued and could suffer a big correction, RBA's Richard Bernstein said. The RBA chief investment officer pointed to a discrepancy between the debt and equity markets, which could hint at a soon-to-come market correction. But, only a narrow group of stocks are dominating the equity market, which implies profits aren't expanding for most companies. While large-cap stocks tanked during the lost decade of the 2000s, small-cap, energy, and emerging market stocks did exceedingly well. In a previous note, he said the stock market's shifting leadership from the most-hyped names to underloved equities presents once-in-a-generation opportunity for investors.

Persons: RBA's Richard Bernstein, —, Richard Bernstein, Bernstein, Goldman Sachs, Goldman Sachs Research Bernstein, Russell Organizations: Service, Wall Street, Apollo, Bloomberg, Goldman Sachs Research, Nasdaq

☆ 26North founder Josh Harris on the power of hiring great people
▼ + stars: | 2024-06-11 | 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 Email26North founder Josh Harris on the power of hiring great peopleJosh Harris paid a record $6.05 billion to add the NFL's Washington Commanders to his firm's sports portfolio, which already included the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and Crystal Palace of the English Premier League. The deal brought hope to one of the NFL's most storied teams and tortured fan bases. They hope Harris' track record in sports and as a successful hedge fund manager will put a winning team on the field and make the price Harris paid look like a real bargain. He joins CNBC's Andrew Ross Sorkin from the 2024 CEO Council Summit in Washington D.C. to discuss his leadership style and much more.

Persons: Josh Harris, Harris, Andrew Ross Sorkin Organizations: NBA's Philadelphia 76ers, New Jersey Devils, English Premier League, Summit Locations: Washington

☆ How 'X Factor' judge Simon Cowell wound up broke and living with his parents at 30 — then became a music mogul and TV star
▼ + stars: | 2024-06-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Simon Cowell ended up broke at the age of 30, but rebounded to become a TV star and music tycoon. The "America's Got Talent" and "The X Factor" celebrity told the story on a new podcast. Cowell compared smartphones to toasters and regretted not owning the rights to the One Direction name. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSimon Cowell went from a broke 30-year-old living with his parents to a music mogul and TV star.

Persons: Simon Cowell, Cowell, —, Sinitta Organizations: Service, Records, Business

☆ Russia has started sending female convicts to fight in Ukraine: report
▼ + stars: | 2024-06-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Female convicts are joining Russia's war efforts against Ukraine, per The New York Times. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia's military is starting to tap into another source of manpower — female convicts. A group of female convicts were released from a prison near St. Petersburg last month to fight in Ukraine, The New York Times reported on Monday, citing two former inmates it had spoken to. According to The Times, roughly 10% of the prison's 400 inmates signed on with the military last year.

Persons: — Organizations: Ukraine, New York Times, Service, The New York Times, The Times Locations: St, Petersburg, Ukraine, The

☆ Macron's snap election gamble in France resurfaces an old criticism — that he's arrogant
▼ + stars: | 2024-06-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Left-leaning newspaper Liberation described the snap election call as an "extreme gamble," while the center-right Le Figaro ran a brief headline Monday: "Le choc" ("shock"). That happened well before the humiliation of the European election results, in which Macron's Renaissance party got less than half as many votes as the far-right Rassemblement National ... In the meantime, other commentators and newspapers, such as Les Echos, have characterized Macron's move as a game of poker. Macron's supporters defend the president as a self-made and ambitious man who has a direct way of speaking to voters. "First, he has interpreted the vote for the European Parliament as a personal insult, as a rejection of his domestic policy direction.

Persons: Emmanuel Macron, Xi Jinping, Ursula von der Leyen, Gonzalo Fuentes, Emmanuel Macron's, Macron, drubbing, Jordan Bardella, Le Figaro, Alexis Brézet, Fenoglio, Macron's, it's, Robert Ladrech, Chirac Organizations: Reuters, Macron's Renaissance Party, National Assembly, Le Monde, CNBC, Keele University Locations: Paris, France, what's, EU

☆ Apple poised to beat Nvidia and rest of Magnificent Seven from here, BTIG says
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

The tide's turning in Apple 's favor, with the iPhone maker poised to outperform AI chipmaker Nvidia , according to a chart analyst at BTIG. So far in 2024, Tim Cook's company is ahead less than 7% while Nvidia has soared 144%. AAPL NVDA 5Y mountain Apple vs Nvidia over past five years. Krinsky, whose note was published before the stock market opened Tuesday but after Apple debuted its latest artificial intelligence plans on Monday, said Apple was poised to break out to a new high. In trading Tuesday, Apple climbed as much as 6.7% to a record $206.03 intraday, scoring its first all-time high since last December.

Persons: Jonathan Krinsky, Tim Cook's, Krinsky, Apple Organizations: Apple, Nvidia

☆ These stocks are half as cheap as the S&P 500 and beating the benchmark
▼ + stars: | 2024-06-11 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

The S & P 500 has been notching fresh highs as of late, but investors with a keen eye may find reasonably priced stocks that are beating the market. The benchmark is currently flexing a last 12-month price-earnings ratio of roughly 25 times, according to FactSet data. But some stocks are offering solid performance at a lower valuation when compared with the S & P 500. Shares climbed more than 18% in 2024 through Monday's close, compared with the S & P 500's 13% gain. Shares have climbed more than 35% in 2024, while Arch's TTM price-earnings ratio sits at 7.95, the lowest on the list.

Persons: Chubb, Warren, Berkshire Hathaway, Joshua Shanker, America's Shanker Organizations: CNBC Pro, CNBC, . Insurance, Berkshire, Chubb, Bank of America, " Insurance, Arch Capital, Arch, Bank, America's, Fox Corp, Hartford Financial, Altria Locations: Monday's

☆ A mysterious hole on Mars could be a jackpot of scientific discoveries, from extraterrestrial life to where astronauts could live
▼ + stars: | 2024-06-11 | by ( Ellyn Lapointe | Jessica Orwig | ) www.businessinsider.com time to read: +6 min

But there is a possibility that residual underground lava tubes may still exist. HUM Images/Getty ImagesIf these lava tubes are anything like Earth's, they could be the perfect place for astronauts to hunker down during their stay on Mars. It's unclear if lava tubes on Mars would also be this warm — it's not a stretch to imagine, just a challenge to confirm. But to be clear, just because there could be life in these pits, doesn't mean Mars definitely hosts extraterrestrials. "This is a good place to look, but we don't know if there's life on Mars at all," Johnson said.

Persons: —, Brandon Johnson, Johnson, George Rose, Ross Beyer, Beyer, there's, it's Organizations: Service, University of Arizona, Business, NASA, JPL, Scientists, Purdue University, Olympus, SETI Institute, Goddard, Arizona State University, Reconnaissance Locations: Arizona, Tharsis, Hawaii

☆ Malawi's vice president and 9 others are confirmed dead after the wreckage of their plane is located
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: +5 min

Malawian Vice President Saulos Chilima and nine other people died when the small military plane they were traveling in crashed in bad weather in a mountainous region in the north of the country, the president said Tuesday. He said Chilima was "a good man, a devoted father and husband, a patriotic citizen who served his country with distinction, and a formidable vice president." Former first lady Shanil Dzimbiri, the ex-wife of former President Bakili Muluzi, was also on the plane, the president had said. The president described the aircraft as a small, propeller-driven plane operated by the Malawian armed forces. Chilima was serving his second term as vice president.

Persons: Saulos Chilima, Chilima, Lazarus Chakwera, Chakwera, Shanil Dzimbiri, Bakili Muluzi, Peter Mutharika, Mutharika, — Organizations: Malawian, U.S, Embassy, Department of Defense, Chilima's United Transformation Movement, World Bank Locations: Mzuzu, South Korea, Lilongwe, Air, Viphya, Africa, Malawi, U.S, Norway, Israel

☆ Gold is getting so expensive that even China's central bank stopped buying
▼ + stars: | 2024-06-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's central bank has paused gold buying after prices reached record highs. China's gold holdings were unchanged in May, halting an 18-month purchasing streak. Gold prices are up 11% this year due to geopolitical tensions, but have softened from a record high. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . On Friday, official data showed China's gold holdings were unchanged in May from the prior month — which means the central bank did not buy gold.

Persons: — Organizations: Service, People's Bank of, Business Locations: People's Bank of China

☆ This under-the-radar tech stock is a Gen AI 'enabler,' and analysts give it 40% upside
▼ + stars: | 2024-06-11 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Informatica , a U.S.-listed software developer, is well-positioned to benefit from the rise of artificial intelligence, according to analysts at Scotiabank. The California-headquartered firm last month launched its AI model — CLAIRE GPT — which is designed to help businesses use their data for generative AI applications. Generative AI, or GenAI, is the technology behind the hugely popular chatbot ChatGPT and other similar products. According to FactSet, the average price target of 16 analysts points to a 39% upside for the stock. RBC Capital analysts expect the stock to rise by 43% to $41 a share over the next 12 months.

Persons: CLAIRE GPT, Patrick Colville, FactSet, Matthew Hedberg, Salesforce Organizations: Scotiabank, The, RBC Capital, Microsoft, Data Management, RBC, Wall Street Journal Locations: Informatica, U.S, The California, Snowflake

☆ Norway discovers Europe's largest deposit of rare earth metals
▼ + stars: | 2024-06-11 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Mining firm Rare Earths Norway says it has discovered Europe's largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region. One of the few deposits not owned or controlled by China, the discovery of continental Europe's largest rare earths deposit is considered a welcome boost in Europe's bid to break China's rare earths dominance. Alf Reistad, CEO of Rare Earths Norway, told CNBC that the discovery at Fen represents a "great milestone" for the company. "It is important to state that there is absolutely no extraction of rare earth elements in Europe today," Reistad said via videoconference on Monday. Rare Earths Norway said the rare earths deposit in Telemark, roughly 210 kilometers (130 miles) southwest of Oslo, is likely to underscore Norway's position as an integral part of Europe's rare earth and critical raw material value chain.

Persons: Alf Reistad, Reistad Organizations: Tech Co, Mining, Nordic, Rare, Norway, CNBC Locations: Mongolia, Baotou, Inner Mongolia, China, Norway, Sweden, Europe, videoconference, Telemark, Oslo

☆ 'A unique Nvidia proxy': Morgan Stanley names a global stock as its new top pick
▼ + stars: | 2024-06-11 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley named a new top pick which it called a "unique Nvidia proxy." "We see Aspeed as a unique NVIDIA-related play, being the sole BMC supplier for GB200 and a key supplier to help realize Omniverse adoption," said Morgan Stanley analysts in a June 7 note. Morgan Stanley said with an average selling price of $100 per chip, it estimates the company could enjoy gross margins of 90%. The positive outlook for cloud capital expenditure is also set to benefit the data center supply chain, according to Morgan Stanley. That expected growth would be a 42-point acceleration from just 2% year-on-year growth in 2023, Morgan Stanley said.

Persons: Morgan Stanley, CNBC's Michael Bloom Organizations: NVIDIA, BMC, GB200, Nvidia, Aspeed, Meta, Microsoft, Google, International, Emerging, China ETF Locations: Taiwan, China

☆ Why AI deals in healthcare have grown faster than other areas of tech — and what VCs are paying close attention to
▼ + stars: | 2024-06-11 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +8 min

Healthcare AI companies raised $2.8 billion in the first quarter of this year, according to the SVB report titled "The AI-powered Healthcare Experience." SVB projects funding to AI healthcare companies to total $11.1 billion in 2024. While healthcare AI startups might have it better, they're not out of the woods. Healthcare startups using AI for administrative tasks have grabbed $6.6 billion since 2021 and made up 42% of healthcare AI deals in the first quarter of this year, according to SVB. AdvertisementIn some cases, Big Tech companies are pushing healthcare startups forward.

Persons: —, Raysa Bousleiman, they're, Siva Namasivayam, Galym, Bousleiman, Shiv Rao Abridge, Lynne Chou O'Keefe, Lightspeed's Imanbayev Organizations: Service, Silicon Valley Bank, Business, Big Tech, Abridge, Health, Lightspeed Venture Partners, Google, Fathom, Nvidia, Ventures, Technologies Locations: Cohere, Abridge, SVB .

☆ This village in Italy went viral for $1 homes and has more cheap houses for sale—but the price has gone up
▼ + stars: | 2024-06-11 | by ( Celia Fernandez | ) www.cnbc.com time to read: +4 min

Sambuca di Sicilia is hoping to continue years of success with its latest scheme to sell off abandoned homes at a very low cost. The Italian village first went viral in 2019 when it auctioned off old homes with bids starting at 1 euro. This time around, Sambuca di Sicilia has about a dozen properties set for auction, according to CNN reports. Since Sambuca di Sicilia started its viral scheme, 250 homes have been sold outside of the original auctions. Sambuca di Sicilia first went viral in 2019 for selling off homes for 1 euro.

Persons: Giuseppe Cacioppo, Sicilia, Cacioppo, it's, Juan Carlos Fotografia, di Silicia, Meredith Tabbone, Tabbone, Mickey Todiwala, she's Organizations: Sambuca, CNN, Foreigners, Istock, CNBC Locations: Sicilia, Sambuca, Chicago

☆ Russia had a golden opportunity to open a new front in Ukraine but is squandering it, military experts say
▼ + stars: | 2024-06-11 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +8 min

Read previewRussia is fumbling a golden opportunity in Ukraine as its latest offensive stalls, experts told Business Insider. The monthslong Republican delay over a new tranche of US military aid had left Ukrainian forces desperately short of ammo and equipment. AdvertisementBut it's likely Putin had other goals — and he may have succeeded in some of them, Bury told BI. Even so, it looks like Russian forces were quickly overextended and poorly protected, The Telegraph reported. "The Kharkiv offensive, even if it wasn't what the Russians have hoped for, ultimately in many ways it served its purpose," said Reynolds.

Persons: —, John Kirby, Patrick Bury, Vladimir Putin, readying, Jake Epstein, Chasiv Yar, Putin, Ann Marie Dailey, it's, Bury, Rob Lee, Nick Reynolds, Volodymyr Zelenskyy, Dailey, Putin's, Joe Biden —, Reynolds, Russia's Organizations: Service, White House National Security Communications, Business, UK's University of Bath, Republican, of Defence, BBC, Washington Post, RAND, Policy, Telegraph, Royal United Services Institute, for, Kyiv Post, Bury, Politico, Kharkiv, Russia's Kharkiv Locations: Ukraine, Kharkiv, Russia, Ukrainian, Vovchansk, Russian, Belgorod, Kyiv, Ukraine's, Sumy

☆ Europe is reckoning with a 'much more unpredictable' U.S., former EU chief says
▼ + stars: | 2024-06-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Former European Commission President Jose Manuel Barroso speaks on stage during the 2022 Concordia Annual Summit in New York on September 20, 2022. Leigh Vogel | Getty Images Entertainment | Getty ImagesA more "unpredictable" U.S. will only add to the challenges facing the incoming European Parliament as it navigates increasingly fraught ties with China and Russia, according to former EU Commission President José Manuel Barroso. "It's not just that the European Union is facing a much more aggressive Russia, a much more assertive China, it's also facing a much more unpredictable United States of America. watch nowBarroso, who served as commission president from 2004 to 2014, said that the U.S. remains the EU's "biggest ally," and that the two sharing close ties, including within NATO. "Today there are some doubts about which way the United States can go.

Persons: Jose Manuel Barroso, Leigh Vogel, José Manuel Barroso, Barroso, Donald Trump, It's, it's, CNBC's Silvia Amaro Organizations: European, Getty, EU, CNBC, Republican, U.S, NATO, Goldman Sachs Locations: New York, China, Russia, Europe, States of America, Ukraine, U.S, United States

Where to watch USA vs. India in the USThe USA vs. India game will live stream on Wednesday at 10:30 a.m. Shop at FuboWhere to watch USA vs. India in the UKThe USA vs. India game will be shown on Sky Sports in the UK. Where to watch USA vs. India in AustraliaThe USA vs. India game will live stream through Prime Video in Australia. Where to watch USA vs. India in IndiaThe USA vs. India game will live stream for free through the Disney+ Hotstar mobile app in India. How to watch USA vs. India from anywhereThose who will be traveling away from home when the USA vs. India game takes place can keep up with their live subscriptions using a VPN.

Persons: Sling's Desi, Fubo, ExpressVPN Organizations: Business, national, teams, ICC, Nassau County International Cricket, USA, Canada, Pakistan, India, Ireland, Willow, Sky Sports, Disney Locations: United States, New York, India, Pakistan, USA, Ireland, Australia

Learn moreWant to know where to watch Love Island USA? Where to watch Love Island USA online in the UKCurrently, there is no UK option for season six of Love Island USA. Where to watch Love Island USA online in AustraliaReality TV fans in Australia will eventually be able to watch Love Island USA online for free (date TBC). How to watch Love Island USA online with a VPNSign up for a VPN if you don't have one. Watch Love Island USA season 6.

Persons: We'll, Peacock, it's, ExpressVPN, ITVX Organizations: Business, Love, USA, ITV2, Hulu, Australia Reality Locations: Australia, New Zealand, Peacock

☆ Every summer I live at camp with my kids. As a working mom, I don't have to think about logistics as much.
▼ + stars: | 2024-06-11 | by ( Brianna Bell | ) www.businessinsider.com time to read: +6 min

Last year, my husband was offered a job as a Camp Director at a small children's camp in remote Southwestern Ontario. Instead of worrying about paying for summer activities, our kids will spend leisurely summer days at the camp. Our kids sleep so much better at campOne of the most unexpected bonuses of summer camp life is our sleep habits. I'll gladly jump into the lake on a hot summer day with my girls or play a game of beach volleyball. When I go to bed at night, my pillow smells like a campfire, sunscreen, and sweat — all signs of a perfect day at summer camp.

Persons: —, I'm, dealbreaker, doesn't, we'll, I'd, I've, Brianna Bell, Brianna Organizations: Service, Business, The New York Times, Guardian, The Globe & Mail Locations: Southwestern Ontario, Toronto, Lake Huron, Canadian

☆ How to Save Tech Industry: Fire Managers, Put Tech People in Charge
▼ + stars: | 2024-06-11 | by ( Ed Zitron | ) www.businessinsider.com time to read: +11 min

This disastrous mindset has hollowed out Silicon Valley's ability to innovate and caused regular people to grow increasingly frustrated with everyday tech. The large platforms have generally ignored this feedback for one big reason: The tech industry has been taken over by career managers. Now Google Search is more profitable and worse, elevating spammy content and outright scams, a problem exacerbated by artificial intelligence. AdvertisementBut today's tech products feel built to sell a dream of the future rather than solve a customer's existing pains. As long as the tech industry is controlled by people who don't build things, it will continue to build products that help raise growth metrics rather than help consumers with tangible problems.

Persons: scammers hawking, Meta's, Hewlett Packard, Kevin Systrom, Mike Krieger, Adam Mosseri, Systrom, Krieger, Mosseri, Mark Zuckerberg, Instagram, Kylie Jenner, Kim Kardashian, Sundar Pichai, Prabhakar Raghavan, Raghavan, Ben Gomes, Gomes, it's, Sam Altman, Helen Toner, Ilya Sutskever, Larry Summers, Fidji Simo, Meta —, —, Steve Jobs, Steve Wozniak Organizations: Facebook, Google, Microsoft, Amazon, Oracle, Adobe, Meta, Builders, Apple, Xerox, HP, Department, Reuters Institute, Oxford University, Silicon Valley Locations: Silicon, Silicon Valley

☆ Watch Tuesday's full episode of Fast Money — June 11, 2024
▼ + stars: | 2024-06-11 | 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 EmailWatch Tuesday's full episode of Fast Money — June 11, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.

Persons: Melissa Lee

☆ Raising Cane's co-CEO AJ Kumaran on California's fast-food minimum wage hike
▼ + stars: | 2024-06-11 | 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 EmailRaising Cane's co-CEO AJ Kumaran on California's fast-food minimum wage hikeHosted 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: Cane's, AJ Kumaran, Brian Sullivan, “ Organizations: CNBC

☆ Global gender gap could take 134 years to close — but 2024 elections offer hope, WEF says
▼ + stars: | 2024-06-11 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The 2024 bumper election year presents a unique opportunity to make progress in closing the global gender gap, according to the World Economic Forum. It is now estimated to take 134 years — or five generations — to close the global gender gap, up from 131 years in 2023, WEF said. This year's sweeping election cycle could narrow that gap, however, by boosting women's representation in the political sphere, the non-governmental organization said. WEF's Global Gender Gap Report, now in its 18th year, is an annual index designed to measure gender equality. "With over 60 national elections in 2024 and the largest global population in history set to vote, women's political representation and the overall gender gap could be set to improve," the report said.

Persons: WEF, Saadia Zahidi, Claudia Sheinbaum, Halla Tomasdottir Organizations: Economic Locations: Saroi, Bhadohi, India's Uttar Pradesh, Mexico, Iceland

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