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CNN —Russia on Wednesday vetoed a United Nations resolution that proposed a ban on the use of nuclear weapons in outer space amid US intelligence-backed concerns that Moscow is trying to develop a nuclear device capable of destroying satellites. In February, President Joe Biden confirmed the US has intelligence that Russia is developing a nuclear anti-satellite capability. It also called on UN member states not to develop nuclear weapons or other weapons of mass destruction designed to be placed in Earth’s orbit. The White House’s comments on the prospect of a Russian nuclear space weapon have deepened those concerns. Last year, Putin deployed tactical nuclear weapons to neighboring ally Belarus, and former Russian president and deputy chairman of Russia’s Security Council Dmitry Medvedev said strategic nuclear weapons could be used to defend territories incorporated into Russia from Ukraine.
Persons: Vassily Nebenzia, Joe Biden, Linda Thomas, Greenfield, Beijing “, , Vladimir Putin, Putin, Dmitry Medvedev Organizations: CNN, Wednesday, United Nations, UN, Russia’s Locations: Russia, Moscow, Russian, Japan, Beijing, China, Ukraine, Belarus
Malaysia may add a casino to Forest City, a mega-development that has turned into a ghost town. AdvertisementMalaysia's Forest City mega-development started with big ambitions and big money. Now, Malaysia is in talks with several high-profile investors to add a casino to Forest City, people familiar with the matter told Bloomberg on Wednesday. AdvertisementThe southeast nation's Prime Minister Anwar Ibrahim met with the heads of a Malaysian property development firm and a resort company at Forest City last week. Expensive, empty apartmentsA casino — which would only be the second in Malaysia — could help struggling Forest City.
Persons: , Anwar Ibrahim, Ibrahim Iskandar, King Ibrahim, Anwar, They're, Al Marjan Organizations: Service, City, Bloomberg, nation's, Forest City, Garden, Genting Group, Berjaya Corp, Business, United, United Arab Emirates, Las Vegas, downstate Locations: Malaysia, Forest City, Singapore, Malaysia's, Malaysian, Forest, Genting, Marielle, Johor, United Arab, Al, York City, York
Honeywell shares are under pressure Thursday, despite the industrial conglomerate exceeding expectations for first-quarter sales and earnings. The culprits: Softer guidance for the current quarter and some uncertainty about a recovery in some of its key businesses. Honeywell Why we own it: Honeywell is a provider of industrial technology solutions to companies in various industries. Building automation was down year over year as growth in the longer-cycle solutions business was offset by continued weakness in the shorter-cycle products business. Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York.
Persons: it's, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Honeywell, Revenue, Emerson, Aerospace, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: management's, UOP, New York
Google CEO Sundar Pichai speaks in conversation with Emily Chang during the APEC CEO Summit at Moscone West on November 16, 2023 in San Francisco, California. There were other reasons for skepticism ahead of Alphabet's earnings report. Like Meta, Alphabet is pouring money into AI. Last month, Alphabet announced a suite of products, including Vertex AI, a no-code console for enterprise companies to build their own AI agents. With first-quarter results in the rearview mirror, Alphabet now has to keep up with heightened expectations, which will only increase as competitors roll out more generative AI products.
Persons: Sundar Pichai, Emily Chang, Ruth Porat, missteps, Investors, Mark Zuckerberg, Pichai, he's, Prabhakar Raghavan, Raghavan Organizations: APEC, Summit, Moscone West, YouTube, Nasdaq, Nvidia, Amazon, Meta, Revenue, Google, Amazon Web Services, Microsoft, rollouts Locations: San Francisco , California, San Francisco, U.S
Depending on your tax bracket at the time of withdrawal, your 401(k) money could be taxed at around 20% or 30%. Note that if you have a Roth 401(k), which is funded with after-tax dollars, you won't be taxed when withdrawing. The longer you can wait to touch your 401(k) money, the longer you'll delay owing taxes. Finally, there's the "non-taxable portion," he said, which would be money in accounts like a Roth 401(k), Roth IRA, and HSA. Or do they have a Roth IRA that they can take it from tax-free to benefit them?"
Persons: , Grant Neiland, there's, you'd, Roth, Neiland, you've Organizations: Service, Business, Carson Wealth, IRS, Roth IRA
Bernstein reiterates Tesla as underperform Bernstein said it still sees minimal positive catalysts ahead for Tesla following earnings on Tuesday. Bank of America upgrades Tesla to buy from neutral Bank of America said it sees a slew of "positive catalysts" ahead for Tesla shares following earnings on Tuesday. Citi downgrades Molson Coors to sell from neutral Citi said it's concerned about slowing growth. Citi upgrades SiriusXM to neutral from sell Citi said the risk/reward is now more balanced. Citi reiterates Amazon as buy Citi raised its price target on the stock to $235 per share from $215.
Persons: Piper Sandler, Piper, Bernstein, Tesla, underperform Bernstein, KBW, Wells, Citi downgrades Molson, it's, Oppenheimer, Domino's, it's bullish, DPZ, SIRI, Morgan Stanley, Morgan Stanley it's, GenAI, Guggenheim, Enphase, Jefferies Organizations: Tesla, Mizuho, Bank of America, of America, Packaging Corporation of America, Citi downgrades, Citi downgrades Molson Coors, Citi, TAP, Deutsche Bank, Deutsche, Computer, Micro, Sea Limited, fintech JV, Amazon, Disney, Atlanta Braves, Braves, Microsoft Locations: Singapore, BNPL
Read previewWhen I reflect on my teenage years, I remember the peer pressure, the pimples, and the sting of social awkwardness. Now, as a parent to a teenage girl, I often worry she feels the same way. I wonder if she feels like we can't connect and that I couldn't possibly relate to what she's going through. Before the trip, I asked my daughter what she thinks is appropriate phone usage while on a family vacation and we set guidelines together. It helped us better connect as mother and daughter.
Persons: , she's, Here's, Hollywood Roosevelt Organizations: Service, Business, Sony Pictures Studios, Grauman, Hollywood, Hollywood Museum, Universal Studios Hollywood, Sony Pictures Locations: Los Angeles, Tom Sawyer's
US stocks traded mostly lower on Wednesday as traders eyed the release of first-quarter GDP data. AdvertisementUS stocks were mostly lower on Wednesday as traders prepared for the release of first-quarter GDP data and digested the latest round of corporate earnings. AdvertisementInvestors are also preparing to take in more earnings results, which have been resilient so far this quarter. Facebook parent Meta Platforms will report after the closing bell, while Microsoft and Alphabet will report results after the close on Thursday. Tesla shares jumped 11% higher on Wednesday after the carmaker's latest earnings report.
Persons: Tesla, Organizations: Service, Federal, Atlanta Fed, Fed, Facebook, Microsoft, Revenue Locations: Here's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPortfolio manager explains why he is underweight U.S. mega-cap tech stocksBrian Arcese of Foord Asset Management thinks the market is "ahead of itself" and explains why he isn't planning to increase exposure to U.S. mega-cap technology names.
Persons: Brian Arcese Organizations: Foord, Management
But strategists at the Wall Street giant aren't only watching sales and earnings growth, the latter of which is expected to rise 8% this year and 6% in 2025. Share buybacks will be the next most common use of cash, Kostin wrote. Companies will also reward shareholders through dividends, which should tick up 6% this year thanks to 8% earnings growth, according to Goldman Sachs. "The AI investment cycle among the mega-cap tech stocks will support investing for growth," Kostin wrote. Goldman SachsBelow are the 30 stocks in that basket where capex and R&D spending is at least 10% of a company's market value.
Persons: shouldn't, Goldman Sachs, David Kostin, Kostin, That's, It's, they'll, Stocks Organizations: Business, Corporate
CNN —Taylor Swift is already breaking hearts and records since she released “The Tortured Poets Department,” but to what extent she’s done the latter will be known in more detail when full sales figures for the album are released next week. “The Tortured Poets Department” (“TTPD”) sold 1.5 million copies in the US in its first three days. The milestones for “Tortured Poets” may have only just begun:Billboard 200 albums chartAmong female recording artists, Swift has the most No. If “Tortured Poets” claims the top spot in its first week, it will be her 14th album to do so. With 31 “TTPD” songs at play, she could potentially overtake Drake’s top 20 record in the weeks to come.
Persons: CNN — Taylor Swift, ” won’t, we’ve, Taylor, , Swift, Jay, she’s, ” Keith Caulfield, Taylor Swift, Drake Organizations: CNN, Poets Department, Billboard, New York Times, Department, Beatles, Drake’s, Apple, Spotify, Amazon
And if you're looking for high-end sailing to unique destinations, I'd suggest avoiding Royal Caribbean's mega-ships. Brittany Chang/Business InsiderAccording to its current expansion plan, by 2028, about a third of Royal Caribbean's fleet will consist of mega-ships. Wonder of the Seas (left) and Icon of the Seas (right) both have Sorrento's, a complimentary grab-and-go pizza shop. If you plan on cruising with your children — and if they, like me, love activities like rock climbing and mini-golfing — Royal Caribbean's mega-ships could be your best option. After all, like most of Royal Caribbean's largest vessels, both Icon and Wonder are exclusively sailing in the Caribbeans.
Persons: , Brittany Chang, I've, Sharon Yattaw Organizations: Service, Oceania Cruises, Business, Royal, Regent Seven Locations: Royal Caribbean, CocoCay, Polynesia, Caribbean, Oceania
Markets climbed higher as investors get ready for a line up of mega-cap earnings. AdvertisementStocks ticked higher Tuesday morning, as a lineup of mega-cap earnings this week fuels hope for a market comeback. That's after the equity rally tumbled sharply last week, with rate-cut outlooks crushed by hot economic data. Investors are pinning their hopes on strong earnings to kickstart a new rally, with the stock market's 10% year-to-date gain through the end of March now cut by more than half. AdvertisementMeta's earnings are set to follow on Wednesday, after which Alphabet and Microsoft will report on Thursday.
Persons: Tesla, , That's Organizations: Meta, Microsoft, Service Locations: Here's
But its private sector has played a limited role in space exploration, acting mostly as suppliers and vendors for its national space agency, the Indian Space Research Organization (ISRO). “Very few companies globally are able to make it to orbit yet.”Pawan Chandana, the co-founder of Skyroot Aerospace Skyroot Aerospace Pvt. As Indian space startups mature over the coming years, he expects the government to become a customer, enabling further growth. Many private space companies source income from governments, including Space X, which has raked in billions of dollars from US government contracts. In November 2022, Skyroot Aerospace launched India's first privately built rocket, Vikram-S. Skyroot Aerospace Pvt.
Persons: Vikram, ” Pawan Chandana, , Pawan Chandana, Narendra Modi, , Susmita Mohanty, Skyroot, Chandana, ridesharing, Kari Bingen, Modi, Mohanty Organizations: CNN, Indian Space Research Organization, ISRO, Elon, SpaceX, Skyroot Aerospace, Skyroot Aerospace Skyroot Aerospace, . Ltd, McKinsey & Company, Economic, , LEO —, Vikram Sarabhai, Aerospace Security, Center for Strategic, International Studies, Deloitte, India’s, NASA Locations: India, United States, Hyderabad, Thiruvananthapuram, Singapore
Tuesday, April 23, 2024: Cramer explains why this health-care stock had a big two-day surgeJim and Jeff discuss the comeback of this health-care stock. They also talk about the analyst price target increase for this media stock. Finally, they discuss this mega cap tech stock being down.
Persons: Cramer, Jeff
Investors are turning their attention to mega-cap earnings, hoping for a new rally catalyst. Tesla is slated to report after Tuesday's closing bell, followed by Meta on Wednesday. Tesla is slated to publish after Tuesday's closing bell, with many on Wall Street having misgivings about its performance, given its massive stock slide and first-quarter delivery disappointment. If earnings exceed expectations, investors are hoping to jump-start another rally, with the stock market's 10% year-to-date gain through the end of March now cut by more than half. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:Here's what else is going on:AdvertisementIn commodities, bonds, and crypto:
Persons: Stocks, , Tesla Organizations: Meta, Service, Microsoft, Here's
Big tech's cash piles in focus ahead of earnings
  + stars: | 2024-04-22 | 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 EmailBig tech's cash piles in focus ahead of earningsCNBC's Deirdre Bosa reports on what to expect from mega cap tech earnings.
Persons: Deirdre Bosa
Justin Sullivan | Getty ImagesAs tech's behemoths get set to report earnings this week, they do so facing a mountain of drama. Tesla kicks off tech earnings season after the close of trading on Tuesday, with shares of the electric vehicle maker trading at their lowest since January 2023. When it comes to AI, Meta debuted its assistant — Meta AI — on WhatsApp, Instagram, Facebook and Messenger last week. Loren Elliott | Bloomberg | Getty ImagesOn a busy Thursday for tech earnings, Alphabet is likely to capture the most attention. On Thursday, Alphabet CEO Sundar Pichai announced a consolidation of the company's AI teams, including responsible AI and related research teams, under the Google DeepMind umbrella.
Persons: Sundar Pichai, Justin Sullivan, tech's behemoths, Tesla, Microsoft's, Lip, CNBC's, we've, Brandon Bell, Drew Baglino, Rohan Patel, Musk, John Murphy, Meta, Mark Zuckerberg, Wall, OpenAI's ChatGPT, Joe Biden, Republican Donald Trump, Loren Elliott, Ruth Porat, Thomas Kurian's, livestreamed, Pichai, that's, Satya Nadella, Sam Altman, Altman, OpenAI, chatbot, MSFT Organizations: Inc, Government, Society, Google, Big Tech, Nvidia, BakerAvenue Wealth Management, Tech, Meta, Microsoft, Getty, Elon Musk's EV, Bank of America, Reality Labs, Facebook, Republican, Bloomberg, CNBC, Google Cloud, Union, Apple, Guggenheim Locations: Stanford , California, Austin , Texas, New York, Sunnyvale , California, Sunnyvale, Seattle, San Francisco , California, OpenAI, Mistral, U.S
AdvertisementThe majority of so-called "peak boomers" have $250,000 or less in assets , according to a recent report, write Juliana Kaplan and Ayelet Sheffey. If you're a bit surprised by the dire economic situation of peak boomers, I wouldn't blame you. Older boomers had the benefit of employer-subsidized retirement plans before a shift in the workforce left younger boomers to fend for themselves. Alistair Berg/Getty ImagesPeak boomers' retirement struggles might end up being a wake-up call for younger generations. There will be plenty of lessons learned from peak boomers entering retirement without the safety net of a pension.
Persons: , blowup Jacob Wackerhausen, Jenny Chang, Rodriguez, Juliana Kaplan, Ayelet Sheffey, that's, we've, boomers, Alistair Berg, Xers, Gen Zers, Bryan Erickson, Jane Street, Chowdhury, Elon Musk, they'd, Tesla, Tony Stubblebine, Nick Little, Dani Widell, BI's Emily Stewart, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Social Security, Security, Google, Wall Street, JPMorgan, Detroit Police Department, Tesla, BI, Verizon Locations: Covid, China, Europe, Airbnb ., America, New York, London, Chicago
US stock futures climbed in premarket trading on Monday ahead of a big week of earnings reports. US GDP and inflation data could also move markets this week. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementInvestors will hope that the tech giants can give the market a much-needed boost, with artificial intelligence likely to be in focus.
Persons: Tesla, , Johnson, Kathleen Brooks Organizations: Microsoft, Service, Nasdaq, Dow Jones, ExxonMobil, Johnson
Tesla shares sank in premarket trading on Monday, while China's Li Auto plummeted to an 11-month low, after both companies slashed prices of their electric vehicles in various markets amid intense competition. U.S. EV giant Tesla cut the starting price of its Model 3 in China to 231,900 yuan ($32,000) on Sunday, a reduction of 14,000 yuan, as reported by Reuters. The report also said it had slashed prices in other major markets, like Germany. Meanwhile, Li Auto cut prices for its models, including the L7, L8, L9, and the newly launched MEGA SUV, it said on its Weibo account on Monday. Checks by CNBC of both Tesla and Li Auto websites on Monday showed their vehicles were listed at the updated prices.
Persons: Li, Tesla Organizations: U.S, EV, Tesla, Reuters, Li Auto, CNBC Locations: China, Germany
Li Auto , Tesla — The electric vehicle makers tumbled more then 7% and 3%, respectively, following announcements of price cuts. Tesla chopped down the sticker price of its Model 3 in China, on top of decreases in other markets Reuters reported . Verizon — The telecommunications giant traded 1.5% higher as earnings per share came in ahead of expectations. Block — Shares added 0.7% after Bank of America reiterated its buy rating on the financial services stock. Hut 8 — Shares gained 2.6% after Benchmark initiated coverage of the data center operator with a buy rating, citing Hut 8's diversified business model and its sizeable bitcoin holdings.
Persons: Li Auto, Tesla, Li, Xpeng, JPMorgan Chase, Morgan Stanley, , Lisa Kailai Han, Hakyung Kim, Sarah Min Organizations: Tesla, Reuters, Verizon, FactSet, Wall Street, JPMorgan, Marathon, Alcoa, Bank of America Locations: China, New York
U.S. stock futures were little changed on Monday night after the S&P 500 snapped a six-day losing streak, buoyed by a rebound in tech stocks. S&P 500 futures gained 0.02%, while Nasdaq 100 futures slid 0.06%. The S&P 500 advanced 0.87%, while the Nasdaq Composite climbed 1.11%. Both the S&P 500 and Nasdaq ended a six-day losing run. Information technology was the best-performing S&P 500 sector on Monday.
Persons: Ayako Yoshioka, CNBC's, Yoshioka Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Investors, Dow, Nvidia, Traders, Microsoft
Hong Kong CNN —Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets. The first cuts were announced on Friday in the US, when Tesla reduced the prices of three of its five models. China gets tougherIn China, the largest EV market in the world, Tesla’s price cuts are expected to exacerbate an existing price war in a highly competitive sector. China’s EV price war started in October 2022, when Tesla cut prices to boost sales as consumers slashed spending in a slowing economy. The competition continues unabated in 2024, with more than 30 major car makers announcing further price cuts.
Persons: Hong Kong CNN — Tesla, Tesla, Elon Musk, Narendra Modi, Li Auto, Li Xiang, Li, China’s BYD, XPeng, BYD Organizations: Hong Kong CNN, EV, Tesla, Li Locations: China, Hong Kong, Germany, United States, Tesla’s, Europe, India, Guangzhou
Like many others, fund manager Jim Golan has made a fortune from mega-cap growth stocks. For the last 19 years, Golan has logged consistently solid returns as manager of the $2.2 billion William Blair Large Cap Growth Fund (LCGNX). Large, high-quality growth stocks have been in vogue since the early 2010s, though that doesn't explain why Golan's fund has excelled versus its peers. How to invest in large growth stocks — and 4 top picksTo impress Golan, stocks must have scale or other structural advantages that lead to success over his three- to five-year investing horizon. Below are four companies the leading fund manager is especially bullish about, along with the ticker, market capitalization, sector, and thesis for each.
Persons: Jim Golan, Golan, William Blair Large, David Ricci, Morningstar, , Golan isn't Organizations: Growth, Business, Microsoft, Nvidia
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