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Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.
Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's
Bank of America thinks Apple can recover from its slow 2024 start and notch big gains going forward. He also raised his price target to $225 per share, which implies 23% upside from Wednesday's close. Mohan noted he expects Apple to implement AI features in its iOS 18 operating system later this year. He also said the Vision Pro headset "could surpass iPad revs over time as spatial computing takes hold offering differentiated use cases driving services upside." AAPL YTD mountain Apple in 2024 Apple shares have been under pressure in early 2024, losing more than 5% after rallying 48% last year.
Persons: Apple, Wamsi Mohan, Mohan, downgrades, Piper Sandler, BofA Organizations: of America, Apple, Barclays Locations: U.S, China
10 industry leaders transforming business in 2023
  + stars: | 2023-12-11 | by ( ) www.businessinsider.com   time to read: +20 min
In 2023, Business Insider's annual list of People Transforming Business highlights key players across the advertising, ESG, finance, AI, and labor sectors. Increasingly, they're turning to more opaque private credit markets to borrow money. The world of private credit sits outside the traditional banking system. Analysts expect the private credit market to balloon in size — likely keeping lawyers like Breen very busy. Muthukrishnan is trying to make sense of how risky these private credit loans are by overseeing what is so far the most comprehensive look at vulnerabilities in the industry.
Persons: Mira Murati, who's, Vince Toye, Eileen Fisher, Eileen Fisher Fisher, Guerin Blask, Eileen Fisher Eileen Fisher, she's, Fisher, Janelle Jones, Jones, Lexey, , She's, Justin Breen, Proskauer Breen, Proskauer Justin Breen, he's, Breen, Ares Capital, He's, McLaren, Julie Su, Labor Julie Su, Department of Labor Julie Su, Su, Marty Walsh, Murati, Jim Wilson, Neal Mohan, YouTube Mohan, Katie Thompson, YouTube It's, YouTube isn't, Mohan, Muthukrishnan, Satya Nadella, Microsoft Satya Nadella, Ben Kriemann, Nadella, Steve Ballmer, Mathias Döpfner, Axel Springer, Tim Cook, Apple Cook, Justin Sullivan, Cook, Steve Jobs, Jobs, JPMorgan Chase Toye, JPMorgan Chase, Toye, they'll, Vince Toye's, Bella Sayegh, Rebecca Ungarino, Lara O'Reilly, Juliana Kaplan, Alex Nicoll, Tim Paradis, Stephanie Hallett, Michelle Abrego, Josée Rose, Ryan Joe, Emily Canal, Kaja Whitehouse, Alyssa Powell, Davis, Jonann Brady Organizations: JPMorgan, Service Employees International, SEIU, New York, Ford, Service Employees International Union, United Auto Workers Union, Spelman College, US Department of Labor, Economic Policy Institute, Center for Economic, Research, Department of Labor, The New York Times, Ares, Churchill Asset Management, European, Atlético Madrid, Labor, Labor Department, MacArthur Foundation, New York Times, Dartmouth, OpenAI, Associated Press, YouTube, NFL, DirecTV, Federal, Microsoft, Manipal Institute of Technology, University of Wisconsin -, University of Chicago, Apple, Apple Watch, Google, Time, JPMorgan Chase, National Housing Trust, Trenton Almgren Locations: McDonald's, Lorain , Ohio, Atlanta, California, Los Angeles, Albania, Canada, Muthukrishnan, Hyderabad, India, University of Wisconsin - Milwaukee, OpenAI, Virginia, Wells Fargo, Trenton
To use precise consumer data, advertisers now must work directly with the company that owns that data — like the retailer that knows what its customers bought or the media company that knows what its audience watched. Streamers including Netflix are building new ad businesses, while platforms like YouTube are trying to bolster their existing ad businesses with more content, such as live sports. "In a world of less data or worse data, whoever has the least-bad data wins," Brian Wieser, an advertising-industry analyst, told Business Insider. Even companies that aren't traditional retailers, such as Uber and Marriott, have kick-started ad businesses. The pandemic pushed the world to embrace streaming services.
Persons: Ana Milicevic, Brian Wieser, Sephora, Morgan Stanley, Milicevic, Neal Mohan, Vinny Rinaldi, Hershey's, Taylor, it's, Weiser, Wieser, influencers Organizations: Data, Apple, Sparrow Advisers, Walmart, Netflix, Companies, Retailers, Target, Marriott, Amazon, Major League Soccer, NFL, Columbia, Bose, YouTube, Advertising, Comcast, Hulu, Meta Locations: California, influencers
REUTERS/Mukesh Gupta/File Photo Acquire Licensing RightsNEW DELHI, Nov 30 (Reuters) - Emerging economies need climate finance, help with technology and the right to pursue development, India's Prime Minister Narendra Modi said on Thursday before leaving for the UN climate summit in Dubai. The COP28 summit opened in Dubai on Thursday for two weeks of talks. Emerging powers, including India and China, often blame the developed world for having used more than its share of the available carbon resources. Earlier on Thursday, Foreign Secretary Vinay Mohan Kwatra said coal would remain India's main source of energy for years to come. "Coal is, and would, remain an important part of India's energy needs," he told reporters.
Persons: Mukesh Gupta, Narendra Modi, Vinay Mohan Kwatra, Kwatra, Sarita Chaganti Singh, Jacqueline Wong, Miral Fahmy, Barbara Lewis Organizations: REUTERS, India's, Reuters, Thomson Locations: Jammu, DELHI, Dubai, India, China, France, United States, COP28
Biswanath Panda, vice president of monetization engineering who reported to Khajehnouri, left the company in May after just a year in the role and joined Uber. Jacob Andreou, Snap's former senior vice president of product and growth, left after working there since 2015 and then joined Greylock. Vice president of product Peter Sellis left Snap in September after eight years, taking on a similar role with Discord. Snap in June hired Eric Young as its new senior vice president of engineering, with Khajehnouri then reporting to him. In addition to Young, Darshan Kantak joined as senior vice president of revenue product, Patrick Harris joined as president of Americas, Ronan Harris joined as president of EMEA, and Ajit Mohan joined as president of APAC.
Persons: Nima Khajehnouri, Khajehnouri, Evan Spiegel, Spiegel, he's, Jeremi Gorman, Peter Naylor, Jerry Hunter, Gorman, Ben Schwerin, Biswanath Panda, Uber, Jacob Andreou, Greylock, Peter Sellis, Hunter, Eric Young, Young, Darshan Kantak, Patrick Harris, Ronan Harris, Ajit Mohan Organizations: Snap, EMEA Locations: Snapchat
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple issues cautious revenue outlook for the holiday quarter. How to play the stock nowJim Cramer, Wamsi Mohan of Bank of America Securities, Toni Sacconaghi of Bernstein and Dan Ives of Wedbush Securities discussed Apple after the company reported fiscal fourth-quarter earnings Thursday and its fourth straight quarter of declining sales.
Persons: Jim Cramer, Wamsi Mohan, Toni Sacconaghi, Bernstein, Dan Ives Organizations: Bank of America Securities, Wedbush Securities, Apple
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple is not really immune to consumer softness, says BofA's Wamsi MohanWamsi Mohan, Bank of America Securities senior analyst, joins 'Squawk Box' to break down Apple's quarterly earnings results, which beat on top and bottom lines but revealed overall sales fell for the fourth quarter in a row, the headwinds facing the company, and more.
Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Bank of America Securities
Google cuts dozens of jobs in news division
  + stars: | 2023-10-18 | by ( Jennifer Elias | ) www.cnbc.com   time to read: +3 min
Google cut dozens of jobs in its news division this week, CNBC has learned, downsizing at a particularly sensitive time for online platforms and publishers. An estimated 40 to 45 workers in Google News have lost their jobs, according to an Alphabet Workers Union spokesperson, who didn't know the exact number. A Google spokesperson confirmed the cuts but didn't provide a number, and said there are still hundreds of people working on the news product. The cuts in Google News follow widespread layoffs across many parts of the company this year. In January, Google announced it was cutting 12,000 jobs, affecting roughly 6% of the full-time workforce.
Persons: We're, We've, Sen, Michael Bennet, TikTok, Thierry Breton, Breton, Sundar Pichai, Neal Mohan, Google's, they've Organizations: Google, CNBC, Google News, Alphabet Workers Union, Union, YouTube, EU's Digital Services, LinkedIn Locations: Israel, Gaza, Russia, Ukraine, Canada
Washington CNN —The European Commission sent a warning letter Friday to Google and its subsidiary YouTube over disinformation and graphic content linked to the Hamas-Israel conflict, in the European Union’s latest effort to scrutinize Big Tech’s handling of the war. The letter from European Commissioner Thierry Breton, addressed to Google CEO Sundar Pichai and also sent to YouTube CEO Neal Mohan, reminded the company about its content moderation obligations under the EU’s Digital Services Act (DSA). Breton shared the letter on X.Breton highlighted legal requirements for Google to keep graphic content such as hostage videos away from underage users; to act swiftly when authorities flag content that violates European laws; and to mitigate disinformation. It also warned of possible penalties if a future investigation were to find Google (GOOGL) is not complying with the DSA. Unlike some of those previous letters, however, Breton’s letter to Google does not directly suggest the company has spread misleading or illegal content.
Persons: Thierry Breton, Sundar Pichai, Neal Mohan, Breton, ” Breton, Ivy Choi, ” Choi, , CNN’s Organizations: Washington CNN, European Commission, Google, YouTube, EU’s Digital Services, DSA, CNN Locations: Israel, Brussels, Gaza
"Its permission to make products using propylene glycol (PG) is cancelled, and it is allowed to make and sell all other products." The Marion factory in Uttar Pradesh was closed in March, after an analysis last year by Uzbekistan's health ministry of two cough syrups made by Marion, Ambronol and DOK-1 Max. India's pharmaceuticals department told parliament that tests had also shown that a sample of propylene glycol (PG), an ingredient of cough syrups taken from Marion's factory contained EG. Reuters has reported that DEG and EG have been used by unscrupulous actors as a substitute for propylene glycol because they are cheaper. Uzbek state prosecutors told a court in Tashkent that distributors of the contaminated Marion syrups paid officials a bribe of $33,000 to skip mandatory testing there.
Persons: Anushree, Shashi Mohan Gupta, Gupta, Rajeev Singh Raghuvanshi, Marion, syrups, Marion syrups, Krishna N, Saurabh Sharma, Clarence Fernandez Organizations: Marion Biotech, Emenox, REUTERS, Reuters, World Health Organization, WHO, EG, Thomson Locations: Uzbekistan, Noida, India, DELHI, Uttar Pradesh, Gambia, Cameroon, Marion, Ambronol, Tashkent
Growth in long-term fundamentals should outweigh short-term headwinds for HP , according to Bank of America. The bank double upgraded shares of the technology company to a buy from underperform rating Tuesday. The new forecast points to more than 28% upside potential from HP's Monday closing price of $25.67. The analyst cited tighter cost controls, growth from an improving PC outlook and increased operating profit dollars. "[Positive] drivers include an improving PC market backdrop, improved profitability from cost actions and stable to higher free cash flow over the next several years."
Persons: Wamsi Mohan, Mohan, — CNBC's Michael Bloom Organizations: HP, Bank of America Locations: China
Diversifying revenue is one of our priorities, Snap says
  + stars: | 2023-09-27 | 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 EmailDiversifying revenue is one of our priorities, Snap saysAjit Mohan, Asia-Pacific president at Snap, says "we have seen a lot of growth in our community in APAC in the last few years."
Persons: Ajit Mohan Locations: Asia, Pacific, APAC
People walk past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsSept 26 (Reuters) - Indian education firm Byju's plans to cut around 5,500 jobs to decrease costs amid a restructuring of its business, the Economic Times reported on Tuesday. The firm, valued at $22 billion last year, has experienced a series of business setbacks, including its auditor and board members quitting. In the last few months, it has also been negotiating the repayment of a $1.2 billion loan. (This story has been corrected to change Arjun Mohan's designation to say CEO of Byju's India business, not the company, in paragraph 2)Reporting by Shivani Tanna in Bengaluru; Editing by Pooja Desai私たちの行動規範:トムソン・ロイター「信頼の原則」
Persons: Adnan Abidi, Arjun Mohan, Byju's, Arjun, Shivani Tanna, Pooja Desai 私 Organizations: Education Technology, REUTERS, Economic Times Locations: New Delhi, India, Bengaluru
The video platform, under the Alphabet-Google umbrella, teased a new generative AI feature dubbed Dream Screen specifically for its short-form video arm and TikTok competitor, YouTube Shorts. Dream Screen is an experimental feature that lets creators add AI-generated video or image backgrounds to their vertical videos. YouTube's Dream Screen tool, which allows users to create AI-generated video or image backgrounds by typing an idea into a prompt. YouTubeTo use Dream Screen, creators can type their idea for a background as a prompt and the platform will do the rest. Chikin Chow currently boasts the title of the most-watched YouTube Shorts creator in the world.
Persons: ” Neal Mohan, Mohan, YouTube Alan Chikin Chow, Chikin Chow, ” Chikin Chow, Alan Chikin Chow, Beverly Hilton, Emma McIntyre, clark, Dick Clark, he’s, Organizations: CNN, YouTube, Beverly Locations: Los Angeles, ANGELES , CALIFORNIA, Los Angeles , California, Silicon Valley
Nutanix has a promising multilever growth story, according to Bank of America. Nutanix, which offers cloud services and software solutions, recently announced a new software-defined platform called " GPT-In-A-Box. " The partnership will combine "the Nutanix cloud platform with Cisco's UCS compute, cloud management, networking and security," said the analyst. Mohan thinks the company could also benefit from Broadcom's upcoming acquisition of cloud computing peer VMware. Ahead of the company's analyst day later this month, Mohan thinks Nutanix can exceed Wall Street consensus estimates.
Persons: Nutanix, Wamsi Mohan, ACV, Mohan, — CNBC's Michael Bloom Organizations: Bank of America, Cisco, VMware, Broadcom, Dell, HP Enterprise Locations: billings
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple moved from a top-line growth story to a margins story, says Fenway Summer's Javier SaadeJavier Saade, Fenway Summer Partner and Wamsi Mohan, Bank of America Securities Sr. Analyst, join 'Closing Bell Overtime' to talk Apple's iPhone 15 reveal.
Persons: Fenway, Javier Saade Javier Saade, Wamsi Mohan Organizations: Email Apple, Fenway, Bank of America Securities
Apple's launch event, during which it's expected to introduce the iPhone 15 and Apple Watch Series 9, comes amid a tough backdrop for the stock in recent sessions. Long expects a $50 to $100 increase for the iPhone 15 Pro and a $100 to $200 hike for the Pro Max model. What it means for Apple shares Looking ahead, Wall Street sees a positive setup for Apple shares over the long term, but those tailwinds could take time to play out. AAPL YTD mountain Apple shares since the start of 2023. Data analyzed by Bernstein shows a similar pattern for Apple shares before and after a launch event.
Persons: Morgan Stanley, Erik Woodring, Tim Long, Long, CFRA's Angelo Zino, Jefferies, Andrew Uerkwitz, referringto, it's, Wamsi Mohan, Morgan Stanley's Woodring, Bernstein, Toni Sacconaghi, Woodring, Apple, Morgan Stanley's, — CNBC's Michael Bloom Organizations: Apple, Barclays, Apple Watch, Pro, Apple Vision, Bank of America, outperformance Locations: China, U.S
Brands have to change their NFL advertising expectations on streamers like YouTube and Amazon. That's no longer the case, as platforms like YouTube and Amazon influence how some NFL ads are bought and evaluated. Here are three ways YouTube and Amazon are changing how brands advertise against the NFL. YouTube TV has over five million subscribers, its chief Neal Mohan said during a MoffettNathanson conference in May. YouTube is betting on promotions to juice YouTube TV subscribers.
Persons: YouTube —, Kasha Cacy, Neal Mohan, Jonathan Schaaf, Schaaf, Mike McHale Organizations: NFL, Brands, YouTube, Amazon, Verizon, Stagwell Media Networks, Consumers, Disney, Noble
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDon't underestimate the risk of China's influence over Apple, says BofA's Wamsi MohanWamsi Mohan, Bank of America analyst, joins 'Squawk on the Street' to discuss the latest Huawei phone release, the potential for a reversal in Apple's valuation due to a pullback in Chinese customers, and the economic impact of iPhone restrictions in China.
Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Apple, Bank of America, Huawei Locations: China
Jim Cramer said Thursday he stands by the Club's "own it, don't trade it" designation on Apple, which was on a two-session losing streak that wiped out more than $200 billion in market value in the stock. "If I really felt like a disaster was coming, I would suspend" our mantra of "own it, don't trade it" on Apple stock, Jim Cramer said during the Club's Morning Meeting on Thursday. Apple is also extending efforts into emerging economies such as India, which like China has roughly 1.4 billion people. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer, shouldn't, Jim, Gina Raimondo, isn't, Apple, Wamsi Mohan, Daniel Ives, Ives, Jim Cramer's Organizations: Apple, Big Tech, Street Journal, Huawei, U.S . Commerce, Bloomberg, Bank of America, Wedbush Securities, U.S, The, CNBC, S3studio, Getty Locations: China, America, Beijing, Americas, Europe, India, Mong Kok District, Hong Kong
There were no immediate comments from Mr. Modi suggesting he would move to officially change the country’s name to Bharat. Bharat, a Sanskrit word, is often used locally in Hindi, but in all communication in English and with other countries, the nomenclature is India. The country’s Constitution uses the term just once — “India, that is Bharat, shall be a Union of States,” Article 1 says — but that was enough for at least one government official. “‘India, that is Bharat’ — it is there in the Constitution,” Subrahmanyam Jaishankar, India’s foreign minister, told a news agency on Wednesday. “Please, I would invite everybody to read it.”The Constitution, however, refers to the nominal head of the country as the president of India.
Persons: Modi, ” Subrahmanyam, , Mohan Bhagwat, Bharat Organizations: Constitution, of States, Rashtriya Swayamsevak Sangh Locations: Bharat, India
[1/2] A smartphone with a displayed YouTube logo is placed on a computer motherboard in this illustration taken February 23, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 21 (Reuters) - YouTube is launching an incubator to work with artistes and musicians to explore the use of artificial intelligence in music, according to its blogpost on Monday. The Alphabet (GOOGL.O) unit has signed up Universal Music (UMG.AS) as its first partner for the Incubator, and will work with artistes including Anitta, ABBA's Björn Ulvaeus, and Max Ricther. The group "will help gather insights on generative AI experiments and research that are being developed at YouTube," said Mohan, adding that YouTube would bring on board more partners. YouTube said it will further invest in AI-powered technology, including evolving its copyright management tool, Content ID, to protect viewers and creators.
Persons: Dado Ruvic, ABBA's Björn Ulvaeus, Max Ricther, YouTube's, Neal Mohan, Mohan, Yuvraj Malik, Arun Koyyur Organizations: REUTERS, YouTube, Universal, Thomson Locations: Bengaluru
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt'll take some time for Apple to revert back to product growth, says BofA's Wamsi MohanWamsi Mohan, Bank of America Global Research senior IT hardware analyst, joins 'Squawk Box' to discuss Apple's quarterly earnings results, which beat Wall Street expectations on services growth but declining sales, the rest of year outlook, and more.
Persons: BofA's Wamsi Mohan Wamsi Mohan Organizations: Apple, Bank of America Global Research
AAPL YTD mountain Apple stock was trading lower after quarterly results. Apple doesn't provide official forward guidance and has not done so since 2020 over macroeconomic uncertainty. Morgan Stanley's Erik Woodring reiterated an overweight rating on Apple but lowered his price target to $215 from $220. Bank of America's Wamsi Mohan remained neutral on Apple, accompanied by a $210 price target that equates to roughly 10% upside. Rakers maintained an overweight rating on Apple stock with a $225 price target, or about 18% upside from Thursday.
Persons: Apple, Luca Maestri didn't, Apple doesn't, Morgan Stanley's Erik Woodring, Woodring, Morgan Stanley, America's Wamsi Mohan, Mohan, Citi's Atif Malik, Malik, Wells, Aaron Rakers, JPMorgan's Samik Chatterjee, Chatterjee, Goldman Sachs, Michael Ng, Apple's, Ng, — CNBC's Michael Bloom Organizations: Apple, America's
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