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☆ Custom art, air purifiers and TikTok: College spending boom could booster retailers' sales this fall
▼ + stars: | 2023-08-10 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +9 min

Eros Hoagland | Getty ImagesOver the past few years, Alicia Browne has noticed a change in what college students haul out of cars on move-in days at the University of Alabama. A growing pie — and market share up for grabsAs college spending is poised to grow, retailers have another reason to vie for students' dollars. Jakub Porzycki | Nurphoto | Getty ImagesIt is difficult to estimate how much college market share Bed Bath had in total. Shipt, the Target-owned delivery service, and Walmart have both tried to attract more college students to their membership programs by offering a special discounted price. She said the company's growth has been fueled by college students who want uniquely decorated rooms that reflect their personalities.

Persons: Eros Hoagland, Alicia Browne, Keurig coffeemakers, decorators, Browne, Prosper, Browne chalks, " Browne, Marshal Cohen, Jakub Porzycki, Harmon, Cristina Fernandez, Sonoma, TikTok, Dormify, Amanda Zuckerman, Zuckerman, Kate Reppeto, Callie Weathers Kate Reppeto, Repetto, she's, Anna Emblom Organizations: University of North, Hill, University of Alabama, College, National Retail Federation, IRI, NPD, Target, Walmart, Consulting, Deloitte, Nurphoto, Goods, Ikea, Telsey Advisory, Williams, Hamptons, Madison, University of Mississippi, Eagle Locations: University of North Carolina, Chapel Hill , North Carolina, Kohl's, Bath, Bed, Williston , Vermont, New York City, Madison Ave, Oxford, Miss, Southlake, Dallas, Fort Worth in Texas, Birmingham, Ala

☆ There's a lot to like in Apple's quarter, signaling shares have more to run than we thought
▼ + stars: | 2023-08-03 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Revenue in Apple's fiscal third quarter of $81.8 billion edged down 1% but edged out expectations of $81.69 billion. Gross margin was 44.5%, expanding 126 basis points from a year ago and coming in slightly above the 44.3% estimate. However, as we've noted before, the installed base represents the outlet for Apple's higher margin, recurring revenue Services business. Cash flow & capital allocation In its June quarter, Apple generated operating cash flow and free cash flow results that were well above what the Street was looking for. Guidance For the current September quarter, Apple expects year-over-year revenue performance to be similar to the June quarter, assuming no worsening macro outlook.

Persons: we've, Apple, we're, it's, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Services, Management, Greater, Apple Watch, CNBC, Nurphoto, Getty Locations: Greater China, Europe, Americas

☆ Wall Street misses the big picture on Apple by focusing on softer iPhone sales
▼ + stars: | 2023-08-02 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

Ahead of Club name Apple 's (AAPL) second-quarter results Thursday, some on Wall Street have warned the company could be weighed down by weakening iPhone sales. Analysts on Wall Street estimate $81.7 billion in sales, which would constitute a roughly 2.3% annual decline, according to FactSet. The country has become one of the top-five iPhone markets over the past quarter for Apple, according to Counterpoint Research. In a note to clients last week, Morgan Stanley forecasted that India could comprise 15% of Apple’s revenue growth over the next five years. Still, Wall Street is torn over iPhones sales and whether they will come in softer on Thursday.

Persons: Steve Cook, Cook, Morgan Stanley, Wells, we’re, we're, We're, hasn't, Jim Cramer's, Jim Cramer, Jim, Jakub Porzycki Organizations: Apple, Big Tech, JPMorgan, Tech, Research, CNBC, UBS, Bloomberg, U.S, Major League Soccer, Nurphoto, Getty Locations: India, China, Hong Kong, Taiwan, Americas, Europe

☆ Reddit throughout the years: Its rise to prominence, recent revolts and IPO plans
▼ + stars: | 2023-07-30 | by ( Katie Brigham | ) www.cnbc.com time to read: +6 min

The price hikes have led some beloved third-party Reddit apps such as Apollo to shut down, instigating an uproar among the website's community of volunteer moderators, who often rely on third-party apps to run the site's 100,000+ discussion communities, called subreddits. But tensions remain high, and some say that if Reddit doesn't rebuild trust, its most passionate users will go elsewhere. Ohanian rejoined Reddit as executive chairman in 2014 and Huffman rejoined as CEO the next year. But it's not just tech giants who use Reddit's API. These third-party apps are largely just alternatives to Reddit's official mobile app, which didn't even exist until 2016.

Persons: Reddit, David DeWald, Alexis Ohanian, Steve Huffman, Paul Graham, Ohanian, Huffman, Y Combinator, Condé Nast, Debra Aho Williamson, George Floyd's, it's, Apollo, Jakub Porzycki Organizations: University of Virginia, Advance, Facebook, Insider Intelligence, GameStop, AMC, Google, Getty

☆ The market scoffs at GE Healthcare's beat and raise, but we see an opening
▼ + stars: | 2023-07-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

We first bought up a modest number of GE Healthcare shares in May, while patiently waiting for a retreat in the price. The difference between the two companies suggests to us that GE Healthcare may be taking market share in the industry. General Electric (GE) spun off GE Healthcare at the start of this year. Guidance Off the strength of the first half of the year, GE Healthcare raised its full-year outlook for organic revenue growth and adjusted EPS. Alzheimer's opportunity We continue to see upside for GE Healthcare as it attracts new business to support the launch of nascent Alzheimer's therapies.

Persons: GEHC, It's, Phillips, EBIT, Peter Arduini, Jim Cramer, Jim Cramer's, Jim, Jakub Porzycki Organizations: GE Healthcare Technologies, Alzheimer's, GE Healthcare, Dutch, GE, General Electric, CNBC, Nurphoto, Getty Locations: U.S

☆ After Ukraine's success with US-made HIMARS, European militaries are looking for their own rocket artillery
▼ + stars: | 2023-07-22 | by ( Michael Peck | ) www.businessinsider.com time to read: +5 min

Other European countries are pursuing their own rocket artillery, buying HIMARS or building new systems. Sovfoto/Universal Images Group via Getty ImagesMultiple launch rocket systems have been around since World War II, when the legendary Soviet Katyusha battered Nazi forces. But Russia adapted and moved its command and supply centers out of HIMARS range, though at the price of compromising some efficiency. Rocket artillery can't replace howitzers, which offer some advantages, such as the ability to fire barrages continuously for hours. Still, rocket artillery is certain to join howitzers as the backbone of Western artillery.

Persons: Lockheed Martin, HIMARS, PATRIK STOLLARZ, Biden, ATACMS, salvoes, Jakub Porzycki Organizations: Russia, Service, Rheinmetall, Defense News, Lockheed, Getty, US State Department, Army Tactical Missile Systems, Ukraine, Storm, Nazi, Anadolu Agency, Russian, GPS Locations: Wall, Silicon, Ukraine, Germany, Munster, AFP, Poland, France, Soviet, Warsaw, Russia

☆ China's chip metal export curbs are 'a wake up call' for countries to diversify their supply chains
▼ + stars: | 2023-07-13 | by ( Sheila Chiang | ) www.cnbc.com time to read: +3 min

Luisa Moreno, President of mining company Defense Metals Corp, expects China to further restrict metal exports which could include rare earths. Jakub Porzycki | Nurphoto | Getty ImagesChina's metal export curbs on gallium and germanium could spur some countries to diversify their supply chains away from China. Rare earths are essential for high-tech consumer products like smartphones and military equipment like radar systems. Rare earths make up a group of 17 elements composed of scandium, yttrium, and the lanthanides. China also threatened to stop rare earths exports to the U.S. in 2019.

Persons: Luisa Moreno, Jakub Porzycki, Stewart Randall, Intralink, Randall, Brady Wang, Moreno, Counterpoint's Wang, Intralink's Randall, Ross Berntson Organizations: Defense Metals Corp, Nurphoto, Getty, CNBC, Alliance, Europe Commission, Counterpoint Research, Indium Corporation Locations: China, Shanghai, Europe, Japan

☆ Don't bet against da Vinci. Here's what I really said about Nvidia
▼ + stars: | 2023-07-12 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

I was hated, he said, because of Nvidia (NVDA). I happen to call Jensen Huang, the CEO and founder of Nvidia, Leonardo da Vinci. I am very easily slagged, taken out of context and derided for things I don't say or do. NVDA mountain 2016-04-01 Nvidia (NVDA) stock performance since April 2016. I know, for example, that I did say "own Nvidia, don't trade it" before its recent burst.

Persons: –, Putin, Jensen Huang, Leonardo da Vinci, da Vinci, Jim Cramer's, Jim Cramer, Jim, Jakub Porzyck Organizations: Nvidia, Twitter, Club, Trust, CNBC, Nurphoto, Getty

☆ Covid vaccine maker Novavax sees a pathway to survival – but it won’t be easy
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +10 min

Jakub Porzycki | NurPhoto | Getty ImagesNovavax has a clear message for Wall Street: The cash-strapped Covid vaccine maker sees a pathway to survival. The 36-year-old company will continue to rely on its protein-based Covid vaccine – its only commercially available product – for most of its revenue this year. Once the U.S. government's supply of free Covid vaccines runs out, all three companies will sell updated shots directly to health-care providers. A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. But Taylor emphasized that the plan will help Novavax refocus on its top priority: delivering an updated vaccine in the coming months.

Persons: Jakub Porzycki, Novavax, Covid, Cowen, Brendan Smith, John Jacobs, Smith, that's, Silvia Taylor, Taylor, Jefferies, Roger Song, Patrick Van Katwijk, Mayank Mamtani, let's, Mamtani, Let's, Song, Ding Genhou Organizations: NurPhoto, Getty, Pfizer, Moderna, CNBC, Food and Drug Administration, World Health Organization, FDA, Dutch Health Service Organization, Riley Securities, U.S, Centers for Disease Control, CDC, Reuters, Visual China Locations: Krakow, Poland, Maryland, U.S, The Hague, Netherlands, Moderna, Geneva, Hohhot, Inner Mongolia Autonomous Region, China

☆ Samsung among companies starting to draft ChatGPT policies for workers
▼ + stars: | 2023-06-13 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

In May, Samsung banned the use of generative AI tools after the company discovered an employee uploaded sensitive code to ChatGPT. This legal mindset persists, which is one of the reasons Ironclad moved forward with generative AI policy so swiftly. Singh said, "It truly needs to be a multi-stakeholder dialogue," including teams from policy, AI, risk and compliance and legal. Creating a generative AI policy is also a good opportunity for companies to scrutinize all of their technology policies, including implementation, change management, and long-term usage. It can also include using generative AI tools as foundational content for work due to the fact it creates inherent bias.

Persons: Jakub Porzycki, Jason Boehmig, Boehmig, Navrina Singh, Singh, Vince Lynch, Lynch, it's Organizations: Samsung, Nurphoto, Getty, Companies, National AI Advisory, Intelligence, National Institute of Standards, Technology, European Union

☆ Cramer on why investors should 'enjoy AI' while CEOs figure out how to use it
▼ + stars: | 2023-05-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Firstly, artificial intelligence (AI) is by far the most important topic of conversation regardless of the forum or the party. Every company's CEO is ripping through the org chart, frantically trying to figure out how to use AI for creativity and profit. CEO Nikesh Aurora is using AI to find out who simply isn't necessary, or who can't do the job as well as the machines. Ultimately, my reflection when it comes to the Club is to continue to try to profit from the AI arms race. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ What to know about Bluesky, the Twitter alternative that some celebrities and journalists are joining
▼ + stars: | 2023-05-08 | by ( Kalhan Rosenblatt | ) www.cnbc.com time to read: +5 min

While Bluesky's beta was made public in February, buzz surrounding the platform grew in April as more Twitter users began posting about flocking there. Although the Bluesky app has many similarities to Twitter, its key difference is that it is organized around a decentralized system. One person even claimed to sell Bluesky invite codes for more than $190 on eBay. The Bluesky app racked up 375,000 downloads on iOS worldwide as of Wednesday, according to analytics firm Data.ai. Jordan Uhl, a progressive activist with more than 271,000 followers on Twitter, joined Bluesky on April 14.

☆ The Fed could deliver the final rate hike of a historically aggressive cycle today. Here's what to know.
▼ + stars: | 2023-05-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

All eyes are on the Fed today as officials ready their decision on what could be the final rate hike of the cycle. We'll hear from central bank chief Jerome Powell today at 2 p.m. The last time the fed funds rate hit that level was during the housing boom in 2006, in the run up to the 2008 crisis. Broadly, markets are acting as if today's potential rate hike will be the final one of the Fed's lengthy, aggressive cycle that's brought so far nine consecutive raises, the last of which was a 25 basis-point move in February. "The market is telling you, in terms of forward yield curves, that they expect the Fed to make a mistake."

☆ Gilead Sciences battles U.S. government in court over HIV prevention patent
▼ + stars: | 2023-05-02 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The U.S. is trying to enforce four patents issued to the Centers for Disease Control and Prevention on a two-drug regimen known as pre-exposure prophylaxis, or PrEP for short. The government accuses Gilead of reaping billions of dollars in PrEP sales without paying royalties to the CDC. Gilead has rejected U.S. allegations that the company's sales of its PrEP oral medications, Truvada and Descovy, infringe on any CDC patents. "Indeed, Gilead has reaped billions from PrEP through the sale of Truvada and Descovy, but has not paid any royalties to CDC." Gilead rejects CDC claims that agency scientists developed the the PrEP regimen.

☆ Bankers’ pitch to save First Republic: Help us now, or pay more later when it fails
▼ + stars: | 2023-04-26 | by ( Hugh Son | ) www.cnbc.com time to read: +4 min

CNBC's David Faber, who first reported on the rescue plan Tuesday, said that the coming days are crucial for First Republic. But that model broke down in the aftermath of the SVB failure as its wealthy customers quickly pulled uninsured deposits. Other possible, but less-likely moves include converting the big bank's deposits into equity, or even finding a buyer. They also benefited the buyers who were able to cherry-pick the best assets while the FDIC retains underwater bonds, the First Republic advisors noted. "If anything, last night's discouraging update will make it even harder for First Republic to keep what it has."

☆ ByteDance is pushing a new app in the U.S. as TikTok faces a ban
▼ + stars: | 2023-04-25 | by ( Sheila Chiang | ) www.cnbc.com time to read: +5 min

While political scrutiny continues to intensify on the widely popular short video app TikTok in the U.S. and across the world, Lemon8 owned by ByteDance is going viral. Jakub Porzycki | Nurphoto | Getty ImagesChinese tech giant ByteDance is pushing another social media app in the U.S. — even as its flagship short video app TikTok faces a possible ban stateside. It seems like ByteDance is pushing Lemon8 as a potential alternative to TikTok," said Lindsay Gorman, senior fellow for emerging tech at the German Marshall Fund. But Lemon8's links to ByteDance and TikTok will come under the radar of U.S. regulators too, especially as the app continues to rise in popularity. Not a solutionCreating another app to replace TikTok is not a quick solution for ByteDance, the analysts said.

☆ Walmart will add thousands of EV charging stations to stores by 2030
▼ + stars: | 2023-04-06 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +1 min

(Photo by Jakub Porzycki/NurPhoto via Getty Images)Walmart announced Thursday it plans to add electric vehicle charging stations to thousands of U.S. stores by 2030. The company announced it would expand its EV fast-charging network to Walmart and Sam's Club locations across the country, adding to the nearly 1,300 EV stations currently in operation at 280 of the company's locations. It plans to own and operate the EV charging stations in its national network. The Biden Administration recently announced an over $7.5 billion investment to launch a national charging network particularly in lower-income and rural communities. This will likely boost EV sales, which accounted for 7% of new U.S. vehicle registrations in January.

☆ Google's AI chatbot Bard is still being rushed
▼ + stars: | 2023-04-05 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Google contractors say they don't have enough time to verify correct answers from the company's AI chatbot, Bard. Bard got off to a less-than-ideal start when it gave an incorrect answer at Google's launch event earlier this year. Some of the contractors told Insider that they just aren't given enough time to corroborate and check the most accurate answer. Google CEO said he sticks to fun and creative questions with Google's Bard AI chatbot. Sundar Pichai, Google's CEO, told The New York Times that he learned through trial and error what type of questions to ask Google's AI chatbot.

☆ Putin's war turned this quiet Polish airport into a global military hub where passenger jets touch down alongside Patriot missiles
▼ + stars: | 2023-03-26 | by ( Stephanie Stacey | ) www.businessinsider.com time to read: +9 min

Rzeszów-Jasionka Airport is just 50 miles from Poland's border with Ukraine. He told Insider: "I realized that a great challenge was ahead of us and that any mistake on our part couldn't be an option." Hamryszczak told Insider that he had to rise to "countless" challenges, including making complex arrangements with world leaders and welcoming the world's media. Air Force One is "the most famous aircraft that has ever visited our airport," Hamryszczak said. "This is no longer the same regional airport that operated in 2021, or even before the pandemic," Hamryszczak told Insider.

☆ Pay $84 a year for Twitter Blue or lose your checkmark beginning April 1, Twitter says
▼ + stars: | 2023-03-24 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

“To keep your blue checkmark on Twitter, individuals can sign up for Twitter Blue,” the company’s tweet continued. Twitter Blue is a subscription service that Musk relaunched late last year that costs individuals $84 a year or $8 a month. Twitter Blue first launched in the pre-Musk days of 2021, as a subscription service offering “power features” like undoing a tweet and saving bookmarks to folders. Jakub Porzycki/NurPhoto/Getty ImagesMusk pulled the Twitter Blue program for a few weeks and relaunched it yet again in December, with additional steps for reviewing and approving subscribers. The company also says Twitter Blue users will see 50% fewer ads in their home timelines, and that their tweets will be prioritized among replies, mentions and searches.

☆ 'Can't get their act together': Crypto firms slam SEC, Washington for lack of clarity on rules
▼ + stars: | 2023-03-24 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Joe Lubin, CEO of ConsenSys and co-founder of Ethereum, told CNBC Thursday that he thought the ecosystem was "generally frustrated." And it's a little bit, you know, sort of a frustrating thing to observe," Nicolas Cary, president of Blockchain.com, told CNBC on Thursday. "I find the talking point that there's a lack of clarity in the securities laws unpersuasive," Gensler said. "Some crypto companies might message that the laws are unclear rather than admitting that their platforms don't have sufficient investor protection." watch nowHe laid out instances where crypto firms come under existing securities laws, such as when a company offers lending products.

☆ Morgan Stanley's case for six Club names, including Alphabet and Microsoft
▼ + stars: | 2023-03-21 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

In a research note Tuesday, Morgan Stanley identified its "best long-term picks" for 2025, in line with our approach for assessing companies. Six names on Morgan Stanley's list were Club holdings, all of which the firm rated a buy. Alphabet (GOOGL): Morgan Stanley analysts think artificial intelligence (AI) will create a new growth opportunities at Google parent Alphabet in its core products, including its search engine, YouTube and cloud offerings. Morgan Stanley has price target of of $135 per share on the stock. Eli Lilly (LLY): The pharmaceuticals giant is well-positioned within the U.S. due to its strong pipeline of drugs and "robust new product cycles," Morgan Stanley analysts argued.

☆ Asia's regulators say banking system is robust and stable after UBS-Credit Suisse takeover deal
▼ + stars: | 2023-03-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Last week, Credit Suisse logged their worst weekly decline since the onset of the coronavirus pandemic. Hong Kong says industry is resilientThe Hong Kong Monetary Authority said the city's banking sector is resilient with strong capital and liquidity positions. "The total assets of Credit Suisse, Hong Kong Branch amounted to about HK$100 billion, representing less than 0.5% of the total assets of the Hong Kong banking sector. Credit Suisse customers will continue to have full access to their accounts and "contracts with counterparties remain in force. Japan banks 'shielded'As for Japan, the country's banking system is unlikely to be affected by the deal, said Cyrus Daruwala, managing director of IDC Financial Services.

☆ Banning TikTok would be an early Christmas gift to Mark Zuckerberg
▼ + stars: | 2023-03-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

A TikTok sale or US ban could be a boon for Mark Zuckerberg and Meta. Instagram Reels could see a boost from a shift away from TikTok in the US, experts say. Zuckerberg has much to gain from a TikTok ban. It would be like Christmas coming early for Meta, which is looking to boost engagement of its rival service, Instagram Reels. In the short term, apps like Instagram Reels and YouTube Shorts could also see a boost.

☆ Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
▼ + stars: | 2023-03-13 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

In this article SBNYBTC.CM=ETH.CM= Follow your favorite stocks CREATE FREE ACCOUNTJakub Porzycki | Nurphoto | Getty ImagesCryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender's U.K. arm. Bitcoin was up nearly 10% at 3 a.m ET at $22,560.20, its highest level in 10 days, according to CoinDesk data. It has been a rollercoaster ride for crypto markets after the collapse last week of Silvergate Capital, a major lender to the crytpo industry. Then came the collapse of Silicon Valley Bank on Friday in what was the biggest banking failure since the 2008 financial crisis. That was followed on Sunday by the closure of Signature Bank , a major lender in the crypto industry, by U.S. regulators to stem any contagion to the broader banking sector.

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