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☆ Cramer applauds DOJ suit to break up Live Nation — plus calls on 4 more stocks
▼ + stars: | 2024-05-23 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Snowflake : The data cloud company shares fell nearly 3% despite a revenue beat and a good guide. However, the revenue guidance was a little light. Live Nation : The Justice Department and 30 states are suing Live Nation, looking to break up Live Nation and Ticketmaster. Cramer countered that, saying VF Corp is selling a lot of products and clearing lots of inventory. He added the story at the company is not as negative as the stock, which has dropped 36% in 2024.

Persons: Jim Cramer's, Jim Cramer, Ralph Lauren, Cramer, That's, Taylor, Williams Organizations: CNBC, Club, Nvidia, Paris, The Justice Department, Ticketmaster, DOJ, VF Corp

☆ News Corp. and OpenAI strike 'multi-year global partnership' deal to use journalistic content to improve ChatGPT
▼ + stars: | 2024-05-22 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

on Wednesday announced a "multi-year global partnership" that will allow OpenAI to access current and archived articles from News Corp.'s outlets, including The Wall Street Journal, MarketWatch, Barron's, The New York Post and more. As part of the deal, OpenAI will be able to display content from News Corp.-owned outlets within its ChatGPT chatbot, in response to user questions. The news follows Reddit's announcement on Thursday that it will partner with OpenAI, allowing the ChatGPT maker to train its AI models on Reddit content. As part of that deal, OpenAI will gain access to Reddit's Data application programming interface, or API, "which provides real-time, structured, and unique content from Reddit," according to a release. Google announced a similar partnership with Reddit in February, allowing the company to train its AI models, such as Gemini, on Reddit content via access to the platform's API.

Persons: Sam Altman, Robert Thomson, OpenAI, Reddit, Mira Murati, Murati Organizations: Economic, News Corp, Wednesday, Street, The New York Post, News, Google, Reddit Locations: Davos, Switzerland, OpenAI, The, OpenAI's

☆ When Nvidia beats estimates, these 6 AI stocks tend to rise
▼ + stars: | 2024-05-22 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Six artificial intelligence-related stocks tend to react positively to Nvidia 's quarterly results, according to CNBC Pro analysis. Five U.S.-listed stocks — Super Micro Computer , AMD , Marvell Technology , Vertiv , and Synopsys — along with Japan-listed Advantest Corp have each risen between 6% and 33% in the past after Nvidia revealed bumper earnings. Super Micro Computer Super Micro Computer, a tech infrastructure company, has become one of the biggest winners of Wall Street's appetite for AI investments. Advanced Micro Devices AMD, the biggest competitor to Nvidia, has also seen its shares jump after Nvidia's earnings. The stock rose 7.5% after Nvidia revealed its last quarterly figures and 16.2% after the first quarter 2023 numbers were out.

Persons: Nvidia's, Synopsys, Leswing, Alex Koller Organizations: Nvidia, CNBC, U.S, Computer, AMD, Marvell Technology, Advantest Corp, CNBC Pro, Wall Street Locations: Japan, United States

☆ Nvidia shows no signs of AI slowdown after over 400% increase in data center business
▼ + stars: | 2024-05-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during the Nvidia GPU Technology Conference (GTC) in San Jose, California, US, on Tuesday, March 19, 2024. Nvidia's most important clients for its graphics processing units are the big cloud providers — Amazon Web Services, Microsoft Azure, Google Cloud and Oracle Cloud. For example, CoreWeave, a GPU cloud, is currently quoting $4.25 per hour to rent an Nvidia H100. Huang said Meta has declared its intention to spend billions on 350,000 Nvidia chips, even though the company isn't a cloud provider. Meta's cluster of servers is an example of "essential infrastructure for AI production," Huang said, or, "what we refer to as AI factories."

Persons: Jensen Huang, There's, Nvidia's, Colette Kress, Kress, Huang, Meta, Blackwell, Elon Musk's xAI Organizations: Nvidia Corp, Nvidia, Technology Conference, Web Services, Microsoft, Google, Oracle, NVIDIA, Facebook, Meta, Tesla Locations: San Jose , California

☆ Stocks making the biggest moves after hours: Nvidia, Snowflake, VF Corp. and more
▼ + stars: | 2024-05-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines after the bell : Nvidia — The chipmaker added about 4% after announcing a 10-for-1 stock split . Nvidia also surpassed Wall Street's fiscal first-quarter estimates on the top and bottom lines, and it issued strong guidance for the current quarter. Fiscal first-quarter revenue surpassed the Street's expectations, coming in at $829 million, versus consensus estimates for $786 million, per LSEG. — The apparel and footwear company sank 9% after posting an unexpected loss for the recent quarter and revenue that fell short of Wall Street's estimates. VF Corp. posted a loss of 32 cents per share on $2.37 billion in revenue.

Persons: LSEG, FactSet, Synopsys, LiveRamp, Dow Jones, Goldman Sachs, Morgan Stanley, Ed Breen, Lori Koch, Breen, —, Darla Mercado, Sarah Min, Scott Schnipper, Christina Cheddar, Berk Organizations: Nvidia, Super Micro, Devices, Corp, VF Corp, LiveRamp Holdings, News Corp, JPMorgan, DuPont de Nemours, DuPont

☆ Nvidia announces 10-for-1 stock split after AI-driven boom in share price
▼ + stars: | 2024-05-22 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday. Stock splits do nothing to change the financial fundamentals of a company but they so make each share cheaper, which can have a positive psychological effect on retail investors. Nvidia said the stock split will make ownership "more accessible to employees and investors," the release said. Nvidia shares closed on Wednesday at $949.50. Alphabet , Amazon and Tesla all orchestrated stock splits in 2022.

Persons: Jensen Huang Organizations: Nvidia Corp, Nvidia, Technology Conference Locations: San Jose , California

☆ Nvidia shares pass $1,000 for first time on AI-driven sales surge
▼ + stars: | 2024-05-22 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Earnings Per Share : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. Revenue: $26.04 billion vs. $24.65 billion expected by LSEG Nvidia said it expected sales of $28 billion in the current quarter. Wall Street was anticipating earnings per share of $5.95 on sales of $26.61 billion, according to LSEG. Nvidia said its data center category rose 427% from the year-ago quarter to $22.6 billion in revenue.

Persons: Jensen Huang, Blackwell, Nvidia, David Paul Morris, Colette Kress, Lama, Kress Organizations: Nvidia, Nvidia Corp, Technology Conference, Bloomberg, Getty, Google, Microsoft, Meta Locations: San Jose , California

☆ The stock market gets nailed by the Fed, again. Plus, Starbucks' quiet comeback
▼ + stars: | 2024-05-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

One Club stock standout Wednesday was off-price retailer TJX after the T.J. Maxx, Marshalls and HomeGoods owner's solid quarter. The recent action in the Club stock has us wondering if a big buyer is lurking out there. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Ralph Lauren, Jim Cramer's, Jim Organizations: CNBC, Federal, Club, Marshalls, Nvidia, Moderna, Tech, Enphase Energy, Corp, BJ's Wholesale, Jim Cramer's Charitable Locations: Maxx

☆ Meta is considering new paid deals with media publishers for AI training data
▼ + stars: | 2024-05-22 | by ( Kali Hays | ) www.businessinsider.com time to read: +4 min

Meta may need such access to make its generative AI tools, like Meta AI, more effective for users and more competitive in the increasingly crowded market of generative AI search tools and chatbots, the people said. User posts and comments on Facebook or Instagram are not necessarily the type of high-quality training data that generative AI chatbots and search tools need to generate quality outputs. Previously, Zuckerberg said he did not expect the generative AI boom. The US Copyright Office is considering new rules to cover generative AI. Major rival tech companies now fiercely competing in generative AI have already entered into deals with news publishers and media outlets for more access to content to be used as model training data.

Persons: Meta, Mark Zuckerberg, Zuckerberg, Dotdash Meredith, Axel Springer, OpenAI, Kali Hays Organizations: Service, Meta, Facebook, Business, News, Google, US, News Corp, Financial, Associated Press, BI, Politico, Microsoft, The New York Times, Times Locations: Europe, khays@businessinsider.com

☆ Nvidia crushes sky-high expectations and charts continued AI-driven dominance for years to come
▼ + stars: | 2024-05-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +10 min

In what was the most anticipated quarter this earnings season, Nvidia far outpaced lofty expectations on the top and bottom lines. Adjusted gross margin of 78.9% also beat the Street's 77.2% estimate, according to market data platform FactSet. Through its Nvidia AI Enterprise service, Nvidia is in the process of building out a potentially massive software business. Nvidia said Tesla's use of Nvidia AI infrastructure "paved the way" for the "breakthrough performance" of full self-driving version 12. Kress expects sovereign AI revenue to approach the high single-digit billions of dollars this year from nothing last year.

Persons: Jensen Huang, Blackwell, here's, Jensen, it's, It's, Colette Kress, Kress, Hopper, Jim Cramer's, Jim Cramer, Jim, David Paul Morris Organizations: Nvidia, Revenue, Enterprise, Devices, Intel, Oracle, Microsoft, Infrastructure, Blackwell, Capital, CNBC, Nvidia Corp, Technology Conference, Bloomberg, Getty Locations: China, U.S, San Jose , California

☆ OpenAI Strikes a Deal to License News Corp Content
▼ + stars: | 2024-05-22 | by ( Katie Robertson | More About Katie Robertson | ) www.nytimes.com time to read: +1 min

News Corp, the Murdoch-owned empire of publications like The Wall Street Journal and The New York Post, announced on Wednesday that it had agreed to a deal with OpenAI to share its content to train and service artificial intelligence chatbots. News Corp said the multiyear agreement would allow OpenAI to use current and archived news content from News Corp’s major news outlets, including brands in the United States, United Kingdom and Australia as well as MarketWatch and Barron’s. The agreement does not include content from News Corp’s other businesses, such as its digital real estate services or HarperCollins. The Wall Street Journal reported the agreement could be worth as much as $250 million over five years, citing unnamed sources. A News Corp spokesman declined to comment on the reporting.

Persons: Murdoch, OpenAI, “, ” Robert Thomson, Sam Altman, ”, ” Mr, Altman Organizations: Corp, Street, The New, The New York Post, . News Corp, HarperCollins, News Corp, Street Journal Locations: The New York, United States, United Kingdom, Australia

☆ Nvidia is talk of the town at AI events leading into this week’s earnings
▼ + stars: | 2024-05-21 | by ( Kif Leswing | ) www.cnbc.com time to read: +6 min

"We're still really early in the AI build," Niles told CNBC's "Money Matters" on Monday. "If you look at today for the AI build out, who's really driving that?" Lam Yik Fei | Bloomberg | Getty ImagesPrior to the recent AI boom, Nvidia was known as the primary maker of chips used for 3D gaming. That's not to say that Nvidia is at risk of losing a ton of the AI chip business to rivals. Piper Sandler analysts expect it to keep at least 75% of the AI accelerator market, even as companies like Google build their own custom chips.

Persons: Jensen Huang, Josh Edelson, Sundar Pichai, that's, Dan Niles, Niles, We're, CNBC's, Bernstein, Mark Zuckerberg, Huang, Lam, Fei, That's, Piper Sandler, Harsh Kumar, Blackwell, Hopper, Morgan Stanley, Joseph Moore Organizations: Nvidia, Intelligence, SAP Center, Afp, Getty, Google, Blackwell, Microsoft, Meta, Niles Investment Management, Cisco, Apple, Nvidia Corp, Bloomberg Locations: San Jose , California, Redmond , Washington, Taipei, Taiwan

☆ Trump Media lost $327 million last quarter. It's still valued at more than $6 billion.
▼ + stars: | 2024-05-21 | by ( Sarah Gray | ) www.businessinsider.com time to read: +1 min

Trump Media & Technology Group lost $327.6 million in the first quarter, per an earnings report. The Monday filing revealed that TMTG earned a revenue of $770,500 in the first three months of the year. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe parent company of Truth Social, former President Donald Trump's social media company, lost $327.6 million in the first quarter, per its Monday earnings report. Trump Media & Technology Group went public via SPAC at the end of March after it merged with Nasdaq-listed Digital World Acquisition Corp.

Persons: TMTG, —, Donald Trump's Organizations: Trump Media & Technology Group, Service, Truth Social, Nasdaq, Corp, SEC, Business Locations: SPAC

☆ Trump Media stock falls 10% after posting $327.6 million loss in first quarter
▼ + stars: | 2024-05-21 | by ( Kevin Breuninger | ) www.cnbc.com time to read: 1 min

Shares of Trump Media fell more than 10% on Tuesday, a day after the Truth Social app owner reported a net loss of $327.6 million on just $770,500 in revenue in the first quarter of 2024. Trump Media, whose majority shareholder is former President Donald Trump, revealed the loss in its first earnings report since its stock began public trading under the DJT ticker in March through a merger with a shell company. The report attributed Trump Media's loss to non-cash expenses, including "the conversion of promissory notes, and the associated elimination of prior liabilities," that preceded its merger with Digital World Acquisition Corp.

Persons: Donald Trump, Trump Organizations: Trump Media, Corp

☆ Utility stocks are on a tear as an 'energy transition supercycle' lifts the entire sector
▼ + stars: | 2024-05-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Vistra Corp. has doubled over that period, while Constellation Energy is up nearly 62% and NextEra Energy has surged 34%. "This is not your old utility, where you just get a dividend and you're happy," Shahriar Pourreza, managing director of energy, power and utilities at Guggenheim Partners, told CNBC. The sector was oversold coming into 2024, with the market going too far in pricing in the impact of interest rates, Pourreza said. Power companies with deregulated assets are able to respond to market conditions more quickly than traditional utilities, he said. The tech sector is looking for clean energy to power data centers as they are simultaneously trying to limit their carbon footprints.

Persons: Pourreza, Jerome Powell, Goldman Sachs, Stephanie Link, CNBC's, Paul Hickey, Vistra, NextEra Organizations: Utilities, Vistra Corp, Constellation Energy, NextEra Energy, Guggenheim Partners, CNBC, Federal Reserve, Investors, HighTower Advisors, Investment Group, Constellation, Services, Microsoft Locations: It's, U.S, Wells

☆ Microsoft announces new PCs with AI chips from Qualcomm
▼ + stars: | 2024-05-20 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Copilot+ PCs with AMD and Intel chips will follow, Microsoft said during a press keynote address on its campus in Redmond, Washington. AI models will be able to generate images based on written descriptions as well as drawings. Microsoft is banking on Qualcomm's energy-efficient Arm -based chips that can handle AI models to defend its Windows franchise. The new PCs can run some AI models locally without an internet connection. Microsoft has had little success in getting people to adopt Arm-based Windows computers, which haven't always performed as well as PCs running Intel or AMD chips.

Persons: Satya Nadella, Snapdragon, haven't, Morgan Stanley Organizations: Microsoft Corp, Microsoft, Windows, Qualcomm, Lenovo, Dell, HP, Asus, Acer, Samsung, AMD, Intel, Apple Locations: Jakarta, Indonesia, Redmond , Washington

☆ DJT: Trump Media reports $770,500 revenue for first quarter, net loss of $327.6 million
▼ + stars: | 2024-05-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media & Technology Group, the parent company of Donald Trump's Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission. "We are particularly excited to move forward with live TV streaming by developing our own content delivery network, which we believe will be a major enhancement of the platform," Nunes added. In April, the company announced that Truth Social would launch a TV streaming platform in three phases, the first for Android, iOS, and Web. In its Q1 report, TMTG said it has signed contracts with its first data center partner, which would host the TV platform, and a hardware vendor to provide equipment.

Persons: Donald Trump, Donald Trump's, Devin Nunes, Nunes, TMTG Organizations: Trump Media & Technology Group, Securities and Exchange Commission, Nasdaq, Android, SEC, BF Locations: Washington ,

☆ California's new 'Honest Pricing Law' will require cruise lines to be transparent about fees
▼ + stars: | 2024-05-19 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

Read previewA new California law will force cruise lines to be more transparent about their prices, bolstering a Biden administration crusade against junk fees. Senate Bill 478, also known as the "Honest Pricing Law," will go into effect on July 1. AdvertisementA Carnival Corp. representative told the outlet it would follow guidelines set out by the "Honest Pricing Law." Carnival Corp. is the parent company of brands like Carnival Cruise Line, Princess Cruises, and Holland America. Royal Caribbean cruise ship.

Persons: —, Biden, Bill, general's Organizations: Service, Business, Companies, Royal Caribbean International, Norweigan, The Washington, Corp, Carnival, Princess Cruises, Holland America, Royal Caribbean, Celebrity Cruises, Royal, Carnival Corp, Cruise, Federal Trade Commission Locations: California, Royal Caribbean

☆ Nvidia and 2 other portfolio stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-05-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

All three major averages closed higher for the week, driven by softer retail sales and consumer price data for April. And the data has been mostly good, with 78% reporting a positive earnings surprise and 60% delivering a positive sales surprise. But we will get earnings from three portfolio companies, including one of our two "own, don't trade" stocks. In the week ahead, three portfolio companies will report results, while it will be fairly slow for economic data, except for a couple of housing reports. Earnings : After a week without earnings from any Club stocks, we'll get three this coming week.

Persons: Dow Jones, Dow, we'll, TJX, Blackwell, Li Auto, James Hardie, Ralph Lauren Corporation, Booz Allen, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Justin Sullivan Organizations: Wall, Federal Reserve, Dow, Nasdaq, CPI, Palo Alto Networks, Palo, TJX Companies, Nvidia, Nexxen, Alto Networks, Video Communications, Trip.com, James Hardie Industries N.V, Nordson Corp, Keysight Technologies, ZIM Integrated Shipping Services, Lowe's Companies, Eagle Materials, Toll, ViaSat, Urban Outfitters, Target Corp, Devices, Dorian LPG, Dycom, Golden Ocean Group, Petco, Wellness Company, Sonoma, WSM, VF Corp, Star Bulk Carriers Corp, LiveRamp Holdings, Chemical & Mining Co, Grupo Supervielle S.A, BJ's Wholesale, Technologies, TD Bank Group, Intuit, Ross Stores, Booz Allen Hamilton Holding, Mesa Laboratories, Jim Cramer's Charitable, CNBC, Intelligence, SAP Center Locations: Palo Alto, Williams, Chile, San Jose , California

☆ Ukraine can still beat Russia. It just comes down to enough Western aid.
▼ + stars: | 2024-05-18 | by ( Michael Peck | ) www.businessinsider.com time to read: +9 min

With 14 to 21 well-equipped brigades, Ukraine could eject Russian forces from all Ukrainian territory, according to an American expert. One is Ukraine amassing a sufficiently powerful ground combat force that can defeat the estimated 500,000 Russian troops in Ukraine. With Russian forces solidly dug in behind minefields and fortifications across eastern and southern Ukraine, that Baltic scenario bears similarities to the situation that Ukraine faces today. Given sufficient quantities of munitions, Ukraine could inflict enough losses to decisively attrit Russian forces that have already sustained an estimated 500,000 casualties. He started with a 2023 Estonian Ministry of Defense plan that laid out a roadmap for Ukraine to defeat Russia.

Persons: one's, Michael Bohnert, Bohnert, isn't, Chasiv, — Bohnert, they've, Andrei Belousov, Putin, Michael Peck Organizations: Service, Business, RAND Corp, RAND, US Army, NATO, Russian, Anadolu, Getty, Estonian Ministry of Defense, Atlantic, Storm, Bohnert, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, American, Russia, Russian, Baltic States, United States, U.S, Chasiv Yar, Estonian, Iraq, Afghanistan, Europe, America, China, Israel, Forbes

☆ A stock trader who's up nearly 200% this year shares the filter that finds high-conviction plays, and explains how he doubles down during earnings season using the same process
▼ + stars: | 2024-05-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

This time, he stuck to the spot market, both day trading and swing trading. AdvertisementHis next filter is stocks trading above $1 to avoid any really volatile penny stocks. All this is done before the stock market opens. He doubles down with this filter by using it during earnings season as well. He determined that $2.48 was a resistance point based on where selling pressure appeared during the previous month's chart.

Persons: James Hatzigiannis, William O'Neill, Hatzigiannis, Mark, Goverdhan Gajjala Organizations: Service, Nike, Business, BI, Photonics Corp, L3Harris Technologies, Rail, Systems Locations: Chicago

☆ Jim Cramer's week ahead: Earnings from Nvidia, Target, Macy's
▼ + stars: | 2024-05-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"Lots to love next week, but, look, for many it's really just going to be about Nvidia," he said. Cramer said he's expecting a solid quarter from Macy's on Tuesday and that Lowes 's report that day should be well-received. Wednesday after the bell brings a report from Nvidia, which Cramer suggested is "perhaps the most important earnings report of the year." He noted that the company's last quarter was good, adding that the upcoming quarter could be more of the same. Cramer said he expects Deckers to have solid earnings as its running shoe brand, Hoka, continues to gain traction.

Persons: CNBC's Jim Cramer, Cramer, he's, Lowes, Ralph Lauren Organizations: Nvidia, Palo Alto Networks, Devices, Target, Williams, Walmart, V.F, Corp, Intuit, Ross Stores Locations: Macy's, Sonoma, Snowflake

☆ Stephen Mandel’s Lone Pine Capital reveals new stakes in AI-related power producers
▼ + stars: | 2024-05-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lone Pine Capital made new bets on some high-performing power producers and one big streaming company in the first quarter, a new Securities and Exchange Commission filing shows. Lone Pine, founded by Stephen Mandel in 1997, added a $446.7 million position in Vistra Corp. and a $161.9 million stake in Constellation Energy in the first quarter. Lone Pine also added new positions in drug and medical supplies distributor McKesson and mobile tech company AppLovin , worth about $368 million and $300 million, respectively. The new additions came as Lone Pine significantly cut its holdings in three big tech companies: Meta Platforms, Taiwan Semiconductor and Amazon . Microsoft is Lone Pine's third-largest position, trailing Taiwan Semiconductor, which Lone Pine reduced by 11%.

Persons: Lone Pine, Stephen Mandel, Mandel, Mark Zuckerberg, Philip Morris, Julian Robertson Organizations: Lone Pine Capital, Securities and Exchange Commission, Vistra Corp, Constellation Energy, Constellation, Taiwan Semiconductor, Microsoft, Meta, Philip Morris International, UnitedHealth Group, GE Aerospace, GE, Cubs Locations: Lone, Vistra, U.S, Greenwich , Connecticut, Meta

☆ Here are Friday's biggest analyst calls: Nvidia, Tesla, Robinhood, Salesforce, Netflix, Roblox, Chevron, Walmart & more
▼ + stars: | 2024-05-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Here are Friday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy Bank of America said top pick Nvidia remains "compelling" heading into earnings next week. Bank of America reiterates Marvell as buy Bank of America said it's sticking with its buy rating heading into earnings later this month. " Citi reiterates Walmart as a top pick Citi said the stock remains a top pick following earnings. Chevron Corp. (CVX): Reiterate Constructive View on Inﬂecting FCF Generation and Relative Valuation; Buy with 13% Total Return." "Near-term caution is offset by our increasingly bullish medium-term outlook, where CRM is well positioned for GenAI & valuation remains undemanding."

Persons: Marvell, Roth, Ree, Roth MKM, it's, REE, Wells, Oppenheimer, Reddit, Goldman Sachs, Tesla, Goldman, BTIG, Baird, Jefferies, Morgan Stanley, Baidu, Wolfe, UAL, Cantor Fitzgerald, Cantor, Price, Stifel, Salesforce Organizations: Bank of America, Nvidia, Ree Automotive, EV, Netflix, Citi, OpenAI, Google, Walmart, Darden, Jefferies, DuPont, Macquarie, Stock, underperform Bank of America, Chevron, Chevron Corp, JPMorgan, Body, United Airlines, Price Target, Health, Base Locations: Thu, Olive, China, United, Underperform

☆ New York crypto personality used 'Seinfeld' joke in fraud, feds reveal
▼ + stars: | 2024-05-17 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

"In the television show 'Seinfeld,' the character George [Costanza] falsely claimed to have interviewed for a job with the fictional company Vandelay Industries," the office noted. In the episode, the invariably hapless Costanza claims he was seeking a position as a latex salesman. Prosecutors said Sfraga promised victims investment returns as high as 60% in three months, but in reality used the money for his own benefit "to pay expenses, and to pay earlier victims and business associates." Sfraga, who lives in Brooklyn, pleaded guilty Thursday in Brooklyn federal court to wire fraud, prosecutors said. He faces a maximum possible sentence of 20 years in prison, in addition to being ordered to pay restitution of more than $1.3 million.

Persons: Thomas John Sfraga, George, Costanza, Sfraga Organizations: Vandelay Contracting Corp, Brooklyn U.S, Attorney's, Vandelay Industries, Prosecutors Locations: York, New York, Brooklyn

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