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☆ How Morgan Stanley says to play the next wave of the AI trade
▼ + stars: | 2024-06-14 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

As the field of stocks that both serve artificial intelligence data centers and have outperformed the rest of the market grows, Morgan Stanley is changing its approach in a search for value. All of the stocks included are rated overweight at Morgan Stanley. Morgan Stanley upgraded Ciena Corporation to overweight as part of the note and in concert with its GVAT model. NVDA YTD mountain Nvidia stock. Other names on the Morgan Stanley list include Broadcom and Taiwan Semiconductor Manufacturing .

Persons: Morgan Stanley, Meta Marshall, Marshall Organizations: Nvidia, Wall, Ciena Corporation, Broadcom, Taiwan Semiconductor Manufacturing

☆ The AI trade dominated this week — here's how we're responding to the market divergence
▼ + stars: | 2024-06-14 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Market check: Stocks are trending lower Friday, a day after the S & P 500 and Nasdaq closed at a new record high. At nearly $800 billion following its earnings-driven surge this week, Broadcom is among the 10-most valuable companies in the S & P, too. Just like the Dow has lagged the S & P and tech-heavy Nasdaq, most of our Club-owned Dow names have been laggards. 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 .

Persons: Jim Cramer, Dow, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Broadcom, Nvidia, Apple, Microsoft, Palo Alto Networks, DuPont, Dow Jones, Dow, Honeywell, Procter & Gamble, Disney, New York Stock Exchange, Jim Cramer's Charitable Locations: Palo Alto

☆ These 3 utilities stocks are set to benefit the most from the AI boom as demand for electricity surges, according to a $47 billion firm
▼ + stars: | 2024-06-14 | by ( Christine Ji | ) www.businessinsider.com time to read: +1 min

AI and data centers are driving up electricity usage in the US after a decade of flat demand. As a result, the utilities sector is performing strongly, especially independent power producers. IPP stocks like NRG, CEG, and VST will benefit the most from AI, says one portfolio manager. Investors are pouring into utilities stocks as data centers drive outsized demand for electricity. This is big news for the US utilities sector, which has experienced essentially flat demand growth over the last decade.

Persons: — Organizations: Service, Nvidia, Goldman Sachs Research, Business

☆ ‘You unite people,’ Pope Francis tells star-studded cast of global comedians in Vatican
▼ + stars: | 2024-06-14 | by ( Christopher Lamb | Simone Mccarthy | ) edition.cnn.com time to read: +3 min

CNN —As world leaders gather in Italy for a summit addressing entrenched global crises, Pope Francis hosted an international gathering of a different sort on Friday to broadcast his own message – of the importance of humor. The leader of the Catholic Church hosted the equivalent of a conclave of comedians in the Vatican by inviting Whoopi Goldberg, Jimmy Fallon, Julia Louis-Dreyfus, Chris Rock, Stephen Colbert, Conan O’Brien and others to the Vatican. Over 200 people were in the audience at the Apostolic Palace, with more than 100 comedians from 15 countries. You denounce abuses of power; you give voice to forgotten situations; you highlight abuses; you point out inappropriate behavior,” Pope Francis added. US President Joe Biden, a Catholic who has a warm relationship with Francis, is among the leaders expected to be present at the gathering.

Persons: Pope Francis, Whoopi Goldberg, Jimmy Fallon, Julia Louis, Dreyfus, Chris Rock, Stephen Colbert, Conan O’Brien, Goldberg, Louis, Pope, ” –, ” Pope Francis, ”, Joe Biden, Francis, Francis ’, Tig Notaro, Jim Gaffigan, Colbert, Fallon, O’Brien, CNN’s Christiane Amanpour Organizations: CNN, Catholic Church, Catholic, Venice Biennale Locations: Italy, Ukraine, Venice, Vatican

☆ Adobe CEO Shantanu Narayen: People have been seeing a lot of spend in AI and infrastructure
▼ + stars: | 2024-06-14 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAdobe CEO Shantanu Narayen: People have been seeing a lot of spend in AI and infrastructureAdobe CEO Shantanu Narayen sits down with CNBC's Jim Cramer for a one-on-one interview after the company announced record second-quarter revenue in its most recent earnings results.

Persons: Shantanu Narayen, CNBC's Jim Cramer Organizations: Adobe

☆ This strategy worked for the iPhone. Can Apple do it again with AI?
▼ + stars: | 2024-06-14 | by ( Jon Sarlin | ) edition.cnn.com time to read: 1 min

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☆ JPMorgan says this data security stock is a great pick for the second half with AI tailwinds
▼ + stars: | 2024-06-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Varonis Systems is poised to make a comeback in the latter part of 2024 as data security demand picks up, according to JPMorgan. Analyst Brian Essex upgraded the stock to overweight from neutral and set a December 2025 price target of $54, up from $50. Shares have dropped 6.7% this year as data security stocks saw a broader decline, creating a compelling buying opportunity for investors heading into the second half of the year, the analyst wrote in a Friday note. According to Essex, data security demand is rising as ransomware attacks are expected to increase, with a breach likely to happen every two seconds in 2031. "Although elevated levels of demand are driving growing levels of competition across the data security space, we view Varonis as one of the best positioned to capitalize on data security demand with a Best of Breed Data Security platform," the analyst added.

Persons: Brian Essex, Essex, Varonis, FactSet Organizations: JPMorgan, Data Security, 4Q, Cybersecurity Ventures, Companies, Breed Data Locations: Thursday's, Essex

☆ Microsoft to delay launch of AI Recall tool due to security concerns
▼ + stars: | 2024-06-14 | by ( Katie Bartlett | ) www.cnbc.com time to read: +2 min

Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. Microsoft plans to make the AI feature available on all Copilot+ PCs soon after they receive feedback through WIP. Microsoft first introduced the Copilot+ PC on May 20 as a computer designed to run advanced AI programs, including Recall. Recall is an AI tool that regularly takes screenshots to create a record of activity, allowing users to search for their previous actions. Microsoft's decision to delay Recall follows heightened concerns around security as the AI field evolves rapidly.

Persons: Satya Nadella, Pavan Davuluri Organizations: Microsoft, Windows, Industry Locations: Redmond , Washington, U.S

☆ A bullish way to trade Tesla using options now that Musk pay controversy is in rearview mirror
▼ + stars: | 2024-06-14 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +2 min

Elon Musk kicked off the Tesla (TSLA) annual meeting thanking shareholders on Thursday. I want to express a bullish view now that this issue is in the rearview mirror for Tesla. TSLA YTD mountain Tesla, YTD Tesla has been an emotionally charged stock as Elon continues to run several companies and be involved in several more. The $56 billion pay package first approved in 2018 being reneged on Musk raised doubts about his future with Tesla this year. DISCLOSURES: (Long Tesla and this call spread) THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY .

Persons: Elon Musk, TSLA, Elon Musk's, Tesla, Cathie, Musk Organizations: Elon Locations: Delaware, Texas

☆ Tesla stock could soar 90% now that Elon Musk's pay package 'soap opera' is over, Wedbush says
▼ + stars: | 2024-06-14 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Elon Musk's pay package approval removes a burden on Tesla's stock, Wedbush Securities said. AdvertisementTesla shares are on track to race higher with the firm's pay package dispute finally out of the way, Wedbush Securities wrote. With CEO Elon Musk approved to receive his $46 billion compensation package, the stock is at last unshackled from the uncertainty surrounding the compensation sage. "Tesla is Musk and Musk is Tesla....shareholders spoke loudly today." Tesla's robotaxi day in early August is the next potential catalyst for the stock, Ives.

Persons: Elon, Tesla, Dan Ives, —, Elon Musk, Musk, Ives, he's, Tesla's Organizations: Wedbush Securities, Service, didn't, Tesla Locations: Delaware

☆ Friday's trading could trigger a $10 billion rush of demand for Nvidia shares. Here's how
▼ + stars: | 2024-06-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

At stake is one of the top two spots in the Technology Select Sector SPDR Fund (XLK) , whose June rebalance is based on market cap values as of Friday's close. The market caps of Microsoft, Apple and Nvidia were all within $100 billion of each other as of Thursday's close, according to a FactSet calculation. This type of big shift in an index fund is unusual, but not unprecedented. The fund tracks an index from S & P Dow Jones Indices that uses weighting caps to keep the index in bounds. Depending on how many shares of Nvidia are required, it might cause a short-term spike in the name," Bajaj said.

Persons: Dow, Dow Jones, Matthew Bartolini, Bartolini, Mohit Bajaj, SPDR, Bajaj, Todd Sohn, — CNBC's Michael Bloom Organizations: Nvidia, Technology, Apple, Microsoft, Dow Jones, Dow Jones Indices, UBS, SPDR, Amazon, Trading, WallachBeth, Bajaj, Street Global Advisors, NYSE Technology Locations: U.S, SPDR Americas, rebalancing

☆ TerraPower CEO: 'Strong business case' for nuclear to meet the power demands of AI
▼ + stars: | 2024-06-14 | 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 EmailTerraPower CEO: 'Strong business case' for nuclear to meet the power demands of AITerraPower CEO Chris Levesque joins CNBC's 'The Exchange' to discuss the Bill Gates-backed company opening of its new project in Wyoming, how nuclear may be critical in powering AI, and more.

Persons: Chris Levesque, CNBC's, Gates Locations: Wyoming

☆ Jim Cramer says he would take profits in our big AI winner of the week. Here's why
▼ + stars: | 2024-06-14 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. After a more-than-20% surge this week on the back of a strong earnings report, Jim Cramer said he would sell some Broadcom on Friday if not for our restrictions. 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, Jeff Marks, Jim, Jim Cramer's Organizations: CNBC, Nvidia, Broadcom, Apple, Microsoft, there's, GE Healthcare, Palo Alto Networks, Club, DuPont de Nemours, JPMorgan, Companies Locations: AVGO

☆ Investors started to do the math on Apple's AI news: Deepwater's Munster on delayed stock boost
▼ + stars: | 2024-06-14 | 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 EmailInvestors started to do the math on Apple's AI news: Deepwater's Munster on delayed stock boostHosted 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: Brian Sullivan, “ Organizations: Investors, Deepwater's, CNBC

☆ Baird: Adobe's report is proof it's all about expectations
▼ + stars: | 2024-06-14 | 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 EmailBaird: Adobe's report is proof it's all about expectationsBaird senior software analyst Rob Oliver discusses Adobe's Q2 results and whether AI demand will continue to push revenue forward in the coming months.

Persons: Baird, Rob Oliver

☆ Google-backed Tempus AI pops by as much as 15% in Nasdaq stock market debut
▼ + stars: | 2024-06-14 | by ( Riley De León | ) www.cnbc.com time to read: +1 min

Tempus AI, a health-care diagnostics company that uses AI to interpret medical tests to help physicians provide more accurate treatment for their patients, rose by as much as 15% in its Nasdaq Stock Market trading debut on Friday, after going public under the ticker symbol "TEM." Tempus AI priced 11.1 million shares at $37 apiece on Thursday, at the top of its initial $35 to $37 target range. Its early gains, if they hold, would place the company at a valuation of roughly $7 billion. Tempus believes that AI can help guide therapy selection and treatment decisions, in conjunction with the patient's doctor. "We're on a really good trajectory," Tempus AI CEO Eric Lefkofsky said on CNBC's "Squawk Box" Friday morning before shares started trading.

Persons: Eric Lefkofsky, we're Organizations: Nasdaq Stock Market

☆ Adobe shares surge 15%, head for sharpest rally since 2020
▼ + stars: | 2024-06-14 | by ( Katie Bartlett | ) www.cnbc.com time to read: +3 min

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates. Salesforce shares suffered their worst plunge since 2004 late last month after the cloud software vendor posted weaker-than-expected revenue and issued disappointing guidance. Even after Friday's rally, Adobe shares remain down 12% for the year. WATCH: CNBC's interview with Adobe CEO Shantanu Narayen

Persons: Shantanu Narayen, Narayen, Salesforce, CrowdStrike, Piper Sandler Organizations: CNBC, New York Stock Exchange, Adobe, Creative, Digital Media, Oracle, Google Locations: New York City, U.S

☆ Saudi Arabia looking to China for a lifeline for its futuristic city could mean trouble for the US
▼ + stars: | 2024-06-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at how Saudi Arabia is courting Chinese investors for help with its massive, futuristic city facing financial issues. NeomSaudi Arabia's dreams of a futuristic city are turning into a financial nightmare, and one of its solutions could spell trouble for the US. Since 2017, the Kingdom has touted big plans for the desert megacity Neom . AdvertisementThe city plans to heavily use renewable energy, a key area of focus for China as it digs itself out of its economic hole . But a soft real estate market and a trail of angry business partners and customers are threatening to thwart his big plans .

Persons: —, Prince Mohammed bin Salman's, Neom's, hasn't, Tom Porter, Prince, Aaron Weiner's, Weiner, Justin Sullivan, it's, they'd, Tyler Le, Giovanna Ventola, Michael Shvo, Shvo, Tesla, Jose Uribe, Sen, Bob Menendez, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith, Amanda Yen Organizations: Service, UEFA, Business, Neom, US, International Monetary Fund, Bank of America, Apple, Apple Intelligence, OpenAI, Amazon, Bonnaroo Music, Arts Festival, Post Malone Locations: Saudi Arabia, Neom, Saudi, Kingdom, China, Gaza, New York, London

☆ Apple just formed a bullish golden cross chart pattern
▼ + stars: | 2024-06-14 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

The maker of iPhones and iPads has formed a "golden cross," a technical indicator signaling when a stock's moving average over the last 50 days rises above the same moving average tracking the last 200 days. It's the first time since March that Apple's 50-day moving average trades above its 200-day counterpart. Despite the outperformance, Apple shares have advanced less than 11% this year, underperforming both the broad S & P 500 and technology-heavy Nasdaq Composite . While the golden cross can indicate upside momentum, Wall Street expects a correction ahead. AAPL 5D mountain Apple, 5-day Correction: A previous version misstated when Apple's previous golden cross pattern took place.

Persons: Siri, LSEG Organizations: Apple, Apple Intelligence, Nasdaq Locations: Silicon Valley

☆ Apple is now overbought after rallying to record highs this week. Here are other names due for a pullback
▼ + stars: | 2024-06-14 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

It's also the second-most overbought stock on Wall Street this week based on its 14-day relative strength index, or RSI. CNBC Pro used its stock screener tool to search for the most overbought and oversold stocks. Names with a 14-day RSI exceeding 70 are considered overbought, which suggests that shares may soon slide. Other overbought stocks this week include Nvidia , Hewlett Packard Enterprise and T.J. Maxx . Among oversold stocks, aerospace and defense firm Northrop Grumman topped the list this week with a 14-day RSI of about 17.

Persons: It's, Siri, chipmaker, LSEG, Northrop Grumman, Northrop, Tyson Organizations: Apple, Developers, RSI, CNBC Pro, Nasdaq, Dow Jones, Nvidia, Hewlett Packard Enterprise, Broadcom, Wall, Bank of America, Microsoft, Tyson Foods

☆ Stock market today: US stocks end the week higher after cool inflation, Apple AI hype
▼ + stars: | 2024-06-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks traded mostly lower on Friday but ended up for the week after a cool May CPI report. The Nasdaq 100 closed at record highs driven by AI excitement and solid earnings from Broadcom and Adobe. AdvertisementUS stocks traded mostly lower on Friday but gained for the week after a cool May inflation report and Apple's unveiling of its AI ambitions at WWDC. The Nasdaq 100 finished the week higher by more than 3%, while the S&P 500 was up about 1.5%. The Dow Jones, which has little exposure to the AI tech trade, finished the week down about 0.5%.

Persons: —, Dow Jones, Loretta Mester, we'll, Mester, Austan Goolsbee, We've, Goolsbee Organizations: Nasdaq, Broadcom, Adobe, Service, Federal, PPI, CNBC

☆ You could get partial ownership of an AI company that may have scraped photos of your face online
▼ + stars: | 2024-06-14 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewYour face could make you a shareholder in Clearview AI, thanks to the terms of a potential settlement of a lawsuit against the company. Related storiesLawyers leading the charge against Clearview argued that the company's approach violated the privacy of people whose photos it used. "Clearview AI is pleased to have reached an agreement in this class-action settlement," Jim Thompson, a partner at Lynch Thompson and lawyer for Clearview, told Business Insider through a spokesperson. The proposed settlement gives people whose photos were used by Clearview a stake in the company's future. AdvertisementBut the proposal also contains an irony for the people whose photos Clearview AI used.

Persons: —, Clearview, Jim Thompson, Lynch Thompson, Jay Edelson Organizations: Service, The New York Times, Business, FBI, US Army, Court, Facebook, Apple

☆ Nvidians Reveal Jensen Huang's Leadership Style: Admit Your Mistakes
▼ + stars: | 2024-06-14 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +6 min

Eight current and former Nvidia employees spoke to Business Insider about Huang's leadership style and what it's like to be grilled by him. This story is available exclusively to Business Insider subscribers. AdvertisementThree former senior-level employees said Huang's leadership style is based on this focus on continuous improvement and learning from mistakes. The 'Jensen grilling'Senior-level employees often experience what some have referred to as a "Jensen grilling"— intense questioning by Huang. One employee likened Huang's grilling to an attorney's interrogation, noting that he wouldn't back down until he'd made his point.

Persons: —, Jensen Huang, Mark Zuckerberg, Taylor Swift, Huang, they've, Columbo, Hunag, Jensen, he'd Organizations: Service, rockstar, Nvidia, Business Locations: Silicon Valley, Hawaii, Bay, Japan, jyotimann

☆ McKinsey exec tells summer interns that learning to ask AI the right questions is the key to success
▼ + stars: | 2024-06-14 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +1 min

Learning to ask AI the right questions is important for young consultants, McKinsey exec says. The McKinsey exec told one intern to learn to be a great 'prompt engineer.' AdvertisementStanding out in a summer internship these days boils down to one thing — learning to talk to AI. At least, that's the advice McKinsey's chief client officer, Liz Hilton Segel, gave one eager intern at the firm. "My advice to her was to be an outstanding prompt engineer," Hilton Segel told The Wall Street Journal.

Persons: McKinsey, —, Liz Hilton Segel, Hilton Segel Organizations: McKinsey, Service, Wall Street Journal

☆ A bunch of analysts cut price targets on these 3 stocks this week. Here's why
▼ + stars: | 2024-06-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Analysts have slashed price targets on three stocks from around the world over the past week: Adobe , France's Remy Cointreau , and Israeli software provider NICE . Adobe Five analysts cut their price targets ahead of Adobe's second-quarter earnings report, released after the bell Thursday. Remy Cointreau It's also been a tough week for Remy Cointreau, the makers of cognacs, liqueurs, and champagne. Ten analysts cut their price target on the stock over the past week. NICE NICE, which builds customer relationship management software, saw five analyst price target cuts over the past week.

Persons: France's Remy Cointreau, Remy Cointreau, Oppenheimer, Brian Schwartz, Remy Cointreau It's, Sanjeet Aujla, Remy, Rishi Jaluria Organizations: NICE, CNBC Pro, Adobe, Google, UBS, Nasdaq, RBC Locations: U.S, Adobe's, Cognac, China, Europe, United States

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