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☆ The stock market rally has broadened out from the Magnificent Seven. Here's why
▼ + stars: | 2024-03-13 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

Over the past month, a notable shift in performance has occurred among the 11 sectors of the S & P 500 . Understanding the S & P 500 sectors The 11 sectors of the S & P 500 represent the various industries powering the U.S. economy. For example, last year, the market-cap-weighted S & P 500 gained 24.2% while the equal-weighted index advanced only 11.6% in 2023. .SPXEW .SPX 1M mountain The equal-weighted S & P 500 over the past month compared with the S & P 500. Encouragingly, overall earnings estimates for the S & P 500 also have gone up recently.

Persons: —, It's, Wells, Linde, Russell, Labor Department —, Genuity, Canaccord, Encouragingly, Eaton, Jim Cramer's, Jim Cramer, Jim, Victor J Organizations: Big Tech, Financial, Coterra Energy, DuPont, Tech, Communication Services, Apple, Microsoft, Nvidia, Club, Tesla, Linde, Wolfe Research, Labor Department, Fed, RBC Capital Markets, RBC, Bank of America, Eaton, CNBC, Visitors, New York Stock Exchange, Blue, Bloomberg, Getty Locations: Tuesday's, U.S

☆ Nvidia could be worth $6 trillion if it follows Cisco's dot-com trajectory, says Jeremy Siegel
▼ + stars: | 2024-03-13 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Nvidia stock could triple if it follows Cisco's path during the dot-com bubble, Jeremy Siegel said. AdvertisementNvidia could triple in value to become the world's first $6 trillion-plus company if it follows Cisco's trajectory during the dot-com bubble, Jeremy Siegel said. It's now worth $2.3 trillion, propelling it past Amazon and Alphabet and leaving only Microsoft ($3.1 trillion) and Apple ($2.7 trillion) ahead. "There could be 2-3x more upside in Nvidia if it follows Cisco's valuation path to its peak," Siegel said. Advertisement"Now we emphatically do not have 1999-2000 levels of speculation in the markets or tech," Siegel said.

Persons: Jeremy Siegel, Wharton, —, It's, Siegel, Wood Organizations: Apple, Microsoft, Service, Nvidia, Cisco, Federal Reserve Locations: —

NEW YORK (AP) — The New York Times is fighting off Wordle “clones” — arguing that numerous games inspired by the mega-popular word-guessing game infringe on its copyright protections. And now the Times, which purchased the game in 2022, is sending takedown notices to people behind some of the look-alikes. "As a result, hundreds of websites began popping up with knock-off ‘Wordle’ games that used The Times’ ‘Wordle’ trademark and copyrighted gameplay without authorization or permission,” the spokesperson said. Photos You Should See View All 60 ImagesThe Times’ DMCA takedown notices were first reported by tech outlet 404 last week. Still, Brauneis said he believes the Times' arguments for Wordle copyright infringement are on “a little bit shaky ground" for several reasons.

Persons: ”, GitHub, Vignesh Venkat, Venkat, “, Robert Brauneis, George, Brauneis, —, Josh Wardle, Wordle Organizations: New York Times, Times, Copyright, New York Times Co, George Washington University's Law, Associated Press, AP, U.S . Copyright Locations: California, GritHub

☆ The Princess of Wales is in the spotlight — for not being in the spotlight
▼ + stars: | 2024-03-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the curious case of Kate Middleton's edited photo that's got the internet buzzing. The big storyPrincess problemsChris Jackson/Getty Images; Ian Vogler - WPA Pool/Getty Images; Chelsea Jia Feng/BIA picture is worth a thousand words. AdvertisementBut this time around, it's the Princess of Wales in the spotlight… for not being in the spotlight. She explained away the issue by saying she does "occasionally experiment with editing," but plenty of people weren't buying it .

Persons: —, we've, Kate Middleton's, that's, Chris Jackson, Ian Vogler, Chelsea Jia Feng, hasn't, Prince Andrew , Duke, York, Prince Harry, Meghan Markle, Duke, Duchess of Sussex, Wales, Kate, Insider's Kwan Wei Kevin Tan, Mikhaila Friel, Kensington, Kensington Palance, Patrick Witty's, Patrick, Kate Middleton, King Charles, Mikhaila, Easter, Katie Notopoulos, BI's Hasan Chowdhury, Beatrice Nolan, Chris Gash, Stephanie Pomboy, Max, Aravind Srinivas, Nvidia's, Artur Debat, Eric Boyd, Joe Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Royals, JPMorgan, Anadolu, Apple, Meta, New York Times, Tesla, Microsoft, OpenAI, International Brotherhood of Teamsters Locations: London, Kensington, British, China, Georgia , Mississippi, Washington, New York

☆ Jim Cramer urges 'patience, patience, patience' on Apple stock, and two analysts also make the case
▼ + stars: | 2024-03-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

AAPL YTD mountain Apple (AAPL) year-to-date performance Jim Cramer on Tuesday acknowledged Apple's recent woes but encouraged investors to have "patience, patience, patience," with the stock. Apple's China sales — amounting to nearly 20% of overall revenue — continues to weigh on the company due to the country's tepid consumer spending, along with stiffening local smartphone competition . Investors are hoping to hear more about Apple's AI ambitions at the company's annual Worldwide Developers Conference in June. 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: Apple, It's, —, Jim Cramer, Apple's, iPhones, Jim, Tim Cook, we're, Jim Cramer's, Wang Gang Organizations: Big Tech, Bank of America, Nvidia, Meta, Microsoft, Apple, ISI, Service, Developers Conference, CNBC, Getty Locations: China, Shanghai

☆ Why Friday’s key Nvidia reversal could mark the start of a broader stock market unwind
▼ + stars: | 2024-03-11 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

But some investors are concerned markets could be due for a broader unwind without the help from AI names. As it is, five of the Magnificent Seven names dropped last week, with the exception of Nvidia and Meta Platforms. That advance has helped the S & P 500 climb for 16 out of 19 weeks, notching record after record in its ascent. "A consolidation in the AI trade has been overdue for a while now, so Friday's key reversal day could signal the start of that unwind." NVDA 5D mountain Nvidia Crowding in AI Indeed, other market observers warned investors the overreliance on AI beneficiaries this year could mean danger for the overall market.

Persons: Jonathan Krinsky, Peter Boockvar, semi's, Dubravko, BTIG's Krinsky, there's, Russell, Chris Verrone, Goldman Sachs, Krinsky, Samantha Subin Organizations: Nvidia, Meta, Apple, AMD, Bleakley Financial, Google, JPMorgan, Sunday

☆ Stock futures inch up as all eyes are on key inflation reading: Live updates
▼ + stars: | 2024-03-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Stock futures rose slightly in overnight trading Monday as investors await a key inflation report that could inform the path of the Federal Reserve's monetary policy. S&P 500 futures and Nasdaq 100 futures both inched up 0.2%. All eyes are on the February reading of the consumer price index, which is set to be released on Tuesday at 8:30 a.m. "The CPI index likely ran hot in February on higher gasoline prices, but core inflation likely slowed further as car prices fell and rent increases moderated," said Bill Adams, chief economist at Comerica Bank. The technology-led market rally has lost momentum as of late as some of the biggest winners this year continued to retreat.

Persons: Dow Jones, Bill Adams, Tesla, Mark Hackett, Nationwide's Organizations: New York Stock Exchange, Federal, Dow Jones Industrial, Nasdaq, Dow, CPI, Fed, Comerica Bank, Nvidia, Apple, Microsoft

☆ Haiti’s Leader, Under Growing Pressure, Says He Will Resign
▼ + stars: | 2024-03-11 | by ( Emiliano Rodríguez Mega | ) www.nytimes.com time to read: +1 min

Haiti’s prime minister, who has come under growing pressure to resign as gangs have overrun the country, said late Monday that he would step down once a transitional council had been established, to pave the way for the election of a new president and help restore stability. “The government that I lead will withdraw immediately after the installation of this council,” Prime Minister Ariel Henry said in a speech posted on social media. The government that I lead cannot remain insensitive to this situation.”But it was far from clear when Mr. Henry, who had been under growing pressure to step down both in Haiti and abroad, would actually do so. Leaders from Caribbean nations, who have led the push to create a transitional council, met for discussions in Jamaica on Monday but said no plan had been finalized. Guyana’s president, Mohamed Irfaan Ali, who leads Caricom, a union of 15 Caribbean countries, said that “we still have a long way to go.”

Persons: Haiti’s, Ariel Henry, Henry, Mohamed Irfaan Ali, ” Organizations: ”, Caricom Locations: Haiti, Caribbean, Jamaica

☆ Opinion: Oscars highlights from our culture critics
▼ + stars: | 2024-03-11 | by ( Cnn Opinion | ) edition.cnn.com time to read: +18 min

CNN —Five CNN Opinion culture critics share their takeaways from the 96th Academy Awards. Gene Seymour: Hollywood’s next existential questionMost of the big, expensive movies walked away with Oscars Sunday night. Ryan Gosling performs the song "I'm Just Ken" from the movie "Barbie" during the Oscars on Sunday. Rita Moreno delivered a spicy ode to best supporting actress nominee America Ferrera, noting that her monologue from “Barbie” was one of the most memorable film moments. And the winners are... Robert Downey Jr. for best supporting actor in "Oppenheimer; Da'Vine Joy Randolph for best supporting actress in "The Holdovers"; Emma Stone for best actress in "Poor Things" and Cillian Murphy for best actor in "Oppenheimer."

Persons: Gene Seymour, Hollywood’s, Gene Seymour Jeremy Freeman, CNN Cord Jefferson, ” Jefferson, Jefferson, “, ” Cord Jefferson, Kevin Winter, “ Oppenheimer, Christopher Nolan, Cillian Murphy, Robert Downey Jr, “ Barbie, ”, Billie Eilish, O’Connell, “ Barbie ”, George Lucas, Steven Spielberg, Mark Harris, Sara Stewart, Barbie ”, Sara Stewart Todd Thompson, Ryan Gosling’s, “ I’m, Ken, Finneas O’Connell, Oscar, Eilish –, –, ” Eilish, “ Oppenheimer ”, Greta Gerwig’s, Gerwig, Margot Robbie, Jimmy Kimmel’s, “ Barbie ” snubs, Ryan Gosling, Chris Pizzello, Gosling –, snubs –, Eilish, Rita Moreno, America Ferrera, Jeff Yang, they’ve, Jack Palance, Seth McFarlane, Chris Rock, Warren Beatty, Faye Dunaway, they’d, ” Will Smith, Jada Pinkett Smith, Jimmy Kimmel, Catherine O’Hara, Michael Keaton, Twinsies Arnold Schwarzenegger, Danny DeVito, Melissa McCarthy, Octavia Spencer, Dale, Cord Jefferson, Finneas O'Connell, Barbie, Mike Blake, Kimmel, Donald Trump, Al Pacino, Pacino, — “ Oppenheimer, Celine Song, Bruce ”, ” Noah Berlatsky, Lily Gladstone, Noah Berlatsky Noah Berlatsky, Mollie Burkhart, Emma Stone, Cord Jefferson’s, Joy Randolph’s, Justine Triet’s, Randolph, Gladstone, Martin Scorsese’s, Burkhart, Ernest, Leonardo DiCaprio, Scorsese, she’s, DiCaprio, Robert DeNiro, Emma Stone’s, Bella, Noah Berlatsky, Holly Thomas, isn’t Robert Downey Jr, It’s, ” Holly Thomas Holly Thomas, Brett Easton Ellis’s, Timothee Chalamet, Austin Butler, Florence Pugh, Downey Jr, Tony Stark, Downey, Oppenheimer, Da'Vine Joy Randolph, Arturo Holmes, Louis Strauss, Katie Couric Organizations: CNN —, CNN, Warner Bros ., Hollywood, New York, The New York Times, Newsday, Entertainment, The Washington, Twitter, Abbott, Disney, Reuters, Teamsters, International Alliance, Employees, Globe, The, “, Downey, North, Katie Couric Media Locations: Pennsylvania, La, Asian America, America, Osage Nation of Oklahoma, Chicago, ”, Zendaya, North America, London

☆ The technical and fundamental takes on Magnificent 7 stocks
▼ + stars: | 2024-03-11 | 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 EmailThe technical and fundamental takes on Magnificent 7 stocksCraig Johnson, Chief Market Technician at Piper Sandler, and Sarah Kunst, Managing Director at Cleo Capital, discuss the outlook for mega-cap tech stocks.

Persons: Craig Johnson, Piper Sandler, Sarah Kunst, Capital

☆ Trump’s freewheeling CNBC interview gives glimpse of the campaign to come
▼ + stars: | 2024-03-11 | by ( Steve Contorno | Kate Sullivan | ) edition.cnn.com time to read: +7 min

In many ways, Monday’s 40-minute call-in to CNBC was typical Trump: evasive, evocative and eventful. His declaration to CNBC that “there is a lot you can do in terms of entitlements in terms of cutting” Social Security and Medicare is already reverberating on the campaign trail. “I won’t cut Social Security and I won’t cut Medicare. Speaking to CNBC, Trump confirmed he recently met with Jeff Yass, a Republican mega donor and billionaire hedge fund manager whose firm is known to own a sizable stake in TikTok. People are rejecting it, and they are watching.”Ending the interview shortly after, host Joe Kernen thanked Trump and extended an opportunity to return.

Persons: Donald Trump, Joe Biden, Trump, who’s, TikTok, ”, Viktor Orbán, – Trump, Biden, “ I’m, “, …, United States –, Mark Zuckerberg, Jeff Yass, TikTok . Trump, ” Trump, ‘, Tik, Ron DeSantis, Nikki Haley, Joe Kernen, Kevin Liptak Organizations: CNN, CNBC, Facebook, Social Security, Trump, Medicare, –, Republican, Mar, GOP, Biden Locations: week’s, Gaza, Washington, New Hampshire, United States, TikTok, TikTok ., Yass

☆ Pfizer is betting big on cancer drugs to turn business around after Covid decline – here's what to know
▼ + stars: | 2024-03-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +13 min

Now, the company is betting on cancer drugs to help it regain its footing after a rocky year marked by the rapid decline of its Covid business. That $43 billion Seagen acquisition doubled Pfizer's oncology drug pipeline to 60 different experimental programs. Some analysts noted that it might take a few years for some of Pfizer's cancer drugs in mid-stage development to show pivotal clinical trial data and become less risky. Revenue from the blockbuster breast cancer drug Ibrance and prostate cancer treatment Xtandi, which Pfizer shares with Astellas Pharma, has declined over the past year. They are among the most expensive prescription drugs in the U.S. Before the Seagen deal, 94% of Pfizer's cancer products were small-molecule drugs.

Persons: Wall, Seagen, Chris Boshoff, Boshoff, David Ryder, Trung Huynh, Joe Biden's, Chris Schott, Suneet Varma, RemeGe, Merck, Padcev, Guggenheim, Pfizer's, Pfizer hasn't, Dr, Mikael Dolsten, Irfan Khan Organizations: Nurphoto, Getty, Pfizer, Astellas Pharma, Guggenheim, Bloomberg, UBS, Medicare, Drug Administration, FDA, ADC, JPMorgan, Drugs, CNBC, CVS Pharmacy, Los Angeles Times Locations: Covid, Bothell , Washington, U.S, biologics, China, Eagle Rock , California

☆ A veteran chartmaster calling for a continued market rally says it's time to diversify away from mega-cap growth by making these 6 investments now
▼ + stars: | 2024-03-10 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Wall Street was mostly upbeat about equities heading into 2023, though even the most bullish investment firms thought the S&P 500 would finish this year at 5,100 — a level it has exceeded already. Resisting this rally is a fool's errand, according to David Keller, the chief market strategist at StockCharts.com. The long-time chartmaster warned of a near-term pullback as the S&P 500 approached its previous record high but has since abandoned his cautious call. AdvertisementFast-forward to early March, and many of those mega-cap growth names remain hot, especially Nvidia and Meta. "I like that idea, at this point, of diversifying away from mega-cap growth," Keller said.

Persons: —, David Keller, chartmaster, Keller, I'm, they've, StockCharts.com Organizations: Service, Business, Nasdaq, Nvidia, Meta, Microsoft, Apple, Companies, Hilton, Marriott, Restaurant Brands, Burger King ., Biotechnology Locations: Burger

☆ Saudi oil giant Aramco posts 25% fall in full-year profit
▼ + stars: | 2024-03-10 | by ( Dan Murphy | ) www.cnbc.com time to read: +2 min

Artur Widak | Nurphoto | Getty ImagesSaudi Arabia's state oil giant Aramco reported a 25% decline in profit to $121.3 billion in 2023, down from $161.1 billion in 2022. Changing HandsThe earnings come after the Saudi government transferred an additional 8% of Aramco shares, worth $164 billion, to Saudi Arabia's Public Investment Fund (PIF). PIF already owned 4% of Aramco, and controls Sanabil, a financial investment firm, which owns 4% of Aramco as well. Aramco said total dividends of $97.8 billion were paid in 2023, up 30% from 2022. watch nowThe PIF's 16% state in Aramco, worth an estimated $328 billion, is set to strengthen its financial position and boost its ability to deploy capital to invest on behalf of the Saudi state.

Persons: Artur Widak, Amin Nasser, Yasir Al Organizations: Aramco, Saudi Arabian Oil Group, World Petroleum Congress, Nurphoto, Getty, Saudi, Saudi Arabia's Public Investment Fund Locations: Saudi, Stampede, Calgary, Canada, Aramco

☆ Bank of America's top global strategist shares 4 signs that a bubble continues to grow in US stocks — and 4 indicators to know when to get out of the market
▼ + stars: | 2024-03-09 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

Bank of AmericaIn the note, Hartnett laid out more evidence that a bubble could be developing in stocks. The current real 10-year rate is 1.6%, according to Fed data. Hartnett said a falling number of job quitters shows a weakening labor market, hence the Fed's apparent willingness to cut rates soon. February's inflation data will be released next week, but January's data showed that prices are still rising at a pesky pace of 3.1%, above the Fed's stated goal of 2%. Whether a Fed pivot is a good thing for investors depends on just how cool labor market data becomes.

Persons: —, Michael Hartnett, Hartnett, quitters, Alejandra Grindal, Ned Davis, it's, Grindal Organizations: Service, Bank of America, Business, PHLX Semiconductor, Nasdaq, Semiconductor, Apple, Microsoft, Nvidia, Tesla, Meta, Bank of America's, Bureau of Labor Statistics, Ned, Ned Davis Research

☆ Mega-cap tech stocks dominate many ESG funds. Here’s why
▼ + stars: | 2024-03-09 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +2 min

The top holdings of many ESG funds may be surprisingly familiar. ESG funds also tend to be more heavily invested in technology stocks because the sector is one of the "cleaner" industries, according to former VettaFi financial futurist Dave Nadig. But Noack considers the idea that ESG funds only invest in clean, sustainable sectors as misleading. Global ESG funds saw their first net quarterly outflows on record in the fourth quarter of 2023, according to Morningstar. However, Nadig points out while financial advisors may have pulled back from recommending ESG funds to clients, investor interest hasn't gone anywhere.

Persons: DWS Group's Arne Noack, CNBC's, Dave Nadig, Nadig, Noack, hasn't, It's Organizations: Americas, Equity, Nvidia, Amazon, Microsoft, Apple

☆ Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and more
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue.

Persons: Carvana, Eli Lilly —, Goldman Sachs, MongoDB, NYCB, DocuSign, LSEG, Morgan Stanley, Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Nvidia —, Nvidia, Marvell Technology, LSEG, RBC Capital Markets, Costco, U.S . Food, Drug Administration, Broadcom, Textron — Textron, Bank of America, Old Navy, New York Community Bancorp, Moody's Investors Service, Amylyx Pharmaceuticals, UBS — U.S, UBS, Auto, Deutsche Bank Locations: U.S, Swiss, China

9 to 0 — I’m going to say that again — 9 to 0, ruled that states can’t keep Donald Trump off their ballots. It’s how — Trump has said to his loyalists, I am your retribution, so maybe we should just look at this as a blueprint for retribution. He’s going to end up — when he gives his big convention speech, he’s going to end up making promises on economic policy, domestic policy, and so on. ross douthatSo here’s why I’m sort of — Carlos, especially to your point — like, trying to focus us on the sharpest possible conflicts. But if most of the country’s political and emotional energy is instead focused on Trump himself, rather than real, actual debates, then I think Trump is winning, period, and the country is losing.

Persons: carlos lozada, polgreen Wow, ross douthat, lydia polgreen, Kiefer Sutherland, carlos lozada Totally, michelle cottle Perfect, lydia polgreen You’re, Kiefer, I’m Ross Douthat, michelle cottle I’m Michelle Cottle, carlos lozada I’m Carlos Lozada, Lydia Polgreen, michelle cottle Chin, Biden, lydia polgreen It’s, —, can’t, Donald Trump, Grover Cleveland, michelle cottle, Jesus, Donald Trump’s, Carlos Lozada, it’s, Carlos, ross, carlos lozada You, “, Trump, Nikki Haley, carlos lozada Yes, He’s, United States — carlos lozada, carlos lozada Harold Meyerson, ”, Harold — carlos lozada —, michelle cottle —, — Trump, Trumpism, lydia polgreen Trump, carlos lozada —, part’s, michelle cottle You’re, Lydia, let’s, Michelle, — ross douthat Michelle, michelle cottle Oh, Hillary Clinton, — ross, lydia polgreen Get, michelle cottle Mexico’s, Mike Shear, Julie Davis’s, ” ross douthat, carlos lozada Michelle, michelle cottle I’m, George Floyd, I’m — ross, polgreen, I’m, — michelle cottle, he’s, lydia polgreen I’m, Dobbs, ross douthat Carlos, we’ve, unquote, carlos lozada Well, carlos lozada He’s, — carlos lozada Boo, Matt Iglesias, That’ll, that’ll, Peter Navarro, doesn’t, there’ll, lydia polgreen There’ll, carlos lozada Ross, there’s, ” michelle cottle, lydia polgreen Couldn’t, John Roberts, Peter Baker, Susan Glasser’s, Maggie Haberman’s, — michelle cottle Beat, ross douthat —, It’s, Asli Aydintasbas, she’s, Ross, Viktor Orbán, Joe Biden, ideologues, ross douthat Lydia, — carlos lozada, ross douthat Go, nope — ross, Miley Cyrus, it’s Truman, I’ve, lydia polgreen There’s, Bilbo, Martin Freeman, michelle cottle Big, michelle cottle Carlos, We’ve, carlos lozada You’re, We’ll, lydia polgreen Bye Organizations: New York, Republican, New York Times, Siena College, Trump, Heritage Foundation, Leadership, GOP, Republicans, HHS, Department of Health, Human Services, Department of Life, CDC, Department of Justice, Justice Department, National Guard, of Homeland Security, Democrats, Politico, America, United States Constitution, Swans, East, Brooklyn, Northwest Missouri State University, carlos lozada Business Locations: New, America, Douthat, ”, Washington, United States, lydia polgreen Get Mexico, Francisco, China, Turkish, Turkey, Manhattan, Brooklyn

Former President Donald Trump and his allies on the Republican National Committee want to convince Tesla and SpaceX CEO Elon Musk to speak at the GOP convention in July, people familiar with the matter told CNBC. It is not clear if Trump or his allies have raised the idea with Musk. Musk previously voiced support for the Republican presidential candidacy of Florida Gov. "He said the other day, 'Oh, I've never voted for a Republican,' " Trump said at that rally. Thiel also said in that interview that Trump's presidential administration, which spanned January 2017 to January 2021, was "crazier" and "more dangerous than I thought."

Persons: Trump, Steve Bannon, Donald Trump, Elon Musk, Tesla, Joe Biden, sitdown, Nikki Haley, Trump's, Peter Thiel, Ronna McDaniel, Michael Whatley, Musk, Lara Trump, Biden, Ron DeSantis, Robert F, Kennedy Jr, I've, Musk baselessly, Thiel, Trump . Thiel Organizations: SpaceX, Tesla, Washington , DC, Republican National Committee, GOP, CNBC, Republican, Trump, Super, PayPal, Republican National Convention, RNC, Representatives, Florida Gov, Trump White, Democrats, U.S, Capitol, Truth, Biden, Facebook, Trump . Locations: Washington ,, Milwaukee , Wisconsin, Palm Beach , Florida, Carolina, Florida, United States, Paris, Texas, Georgia

☆ Pharmaceutical companies behind weight-loss drugs are slimming down a new target: The Magnificent 7
▼ + stars: | 2024-03-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at pharma companies' surging stocks and threatening tech darlings thanks to their weight-loss drugs. And it comes despite only 1% of US adults taking weight-loss drugs, according to Bank of America , which predicts that number could rise to 15% by 2035. Weight-loss drugs are also cutting more than just fat. For Wall Street, meanwhile, the equation is much simpler: Getting more people on weight-loss drugs boosts the economy. The trend, which will be powered by cash-rich mega-cap tech companies, is thanks to strong earnings growth, the bank said.

Persons: —, Joe Biden, Donald Trump —, Trump, Zhan, Eli Lilly, Tesla, Hannah Latham, Octavio Jones, Christian Rodriguez, Laura MacPherson, Jenny Chang, Rodriguez, they're, Goldman Sachs, Biden, Barry Sternlicht, Fernando Gutierrez, It's, Elon Musk, TikTok, Pete Ryan, RJ Scaringe, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, pharma, Business, Tesla, Microsoft, JPMorgan, Pfizer, Novo Nordisk, Bank of America, Nvidia, Companies, Fed, Infrastructure Investment, Alpha, Commission, Elon, EV, Nike, Congress, White, Meta, SXSW Locations: China, US, New York, London

☆ Jim Cramer reviews Citi's European 'Super Seven'
▼ + stars: | 2024-03-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Friday reviewed the "Super Seven," mega cap European stocks Citi recently named as alternatives to the Magnificent Seven, but with lower valuations. "I want you to think of the Super Seven as a shopping list of high-quality European stocks that could be very attractive on a pullback," he said. Novo Nordisk " came out with the original GLP-1, diabetes and weight loss drug Ozempic. Richemont SAP Schneider Electric Eaton Ferrari"As great as the Super Seven may be, you're not exactly early to any of these stories — most of these stocks are trading at or near their all-time highs," Cramer said. "Of course, you could say the same thing about the Magnificent Seven, but it makes me a little queasy to recommend something that's already had a huge run."

Persons: CNBC's Jim Cramer, Beata Manthey, Bullish, Dior, SAP Schneider Electric Eaton, Cramer, that's Organizations: Citi, Nordisk, Givenchy, SAP Schneider Electric

☆ President Biden wants higher taxes on Corporate America's stock buybacks
▼ + stars: | 2024-03-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +5 min

President Biden wants to increase the taxes on those buybacks. Corporations prefer stock buybacks Corporate America has wide latitude on what it does with the cash flow it generates. Excess cash will typically fall into three buckets: buybacks, dividends and capital expenditures. Capital expenditures $597 b. "However, if economic growth momentum instead continues to build, investors may begin to increasingly reward companies that are investing for growth," Goldman said.

Persons: Biden, Goldman Sachs Jeffrey Yale Rubin, Goldman Sachs, Goldman, Tesla, Meta, Biden's, Howard Silverblatt, Silverblatt Organizations: America, buybacks, Birinyi, P Global Locations: buybacks, America

☆ Aldi plans to open 800 new locations in the next five years
▼ + stars: | 2024-03-07 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

Some of the 800 new locations will be store conversions from its now-complete acquisition of Winn-Dixie and Harveys Supermarkets, with a “significant number” of those locations — largely located in the Southeast — ditching their respective names and being remodeled into an Aldi. Approximately 50 stores will be converted later this year, with a majority of those reopening under the Aldi name in 2025. However, the Winn-Dixie and Harveys Supermarkets names won’t completely disappear: Aldi said that a “meaningful amount” of locations will retain that branding. Aldi’s newest plan brings its store count to nearly 3,000 US locations, a notable expansion but still trailing against its rivals. If their merger is approved, Kroger and Albertson’s will have about 4,500 locations and Walmart, the nation’s largest grocer, has nearly 5,000.

Persons: Aldi, Winn, Neil Saunders, Saunders, ” Saunders, Albertson’s Organizations: New, New York CNN, Winn, Dixie, Harveys, Aldi, GlobalData, Kroger, Walmart Locations: New York, Northeast, Midwest, West, Southern California, Phoenix, Las Vegas

☆ Why Apple's recent decline may be just the beginning, according to the charts
▼ + stars: | 2024-03-07 | by ( David Keller | ) www.cnbc.com time to read: +3 min

The performance of the once-dominant Magnificent 7 stocks has certainly shifted in the first quarter, with charts like Apple (AAPL) beginning to diverge from the rest of the mega-cap growth leadership names. But is the recent decline for AAPL just the beginning? Since a strong rally in the first half of 2023, Apple has essentially been in a basing pattern. The RSI has moved into the oversold range as well, which tells me to expect at least some sort of bounce off this well-established level of price support. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Apple, It's, AAPL, David Keller Organizations: Apple, Nasdaq, RSI, CMT

☆ CrowdStrike CEO says cybercriminals are leveling up: 'It’s going to be the battle of AI in the future'
▼ + stars: | 2024-03-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

He said generative AI is democratizing "very esoteric techniques and attacks," for adversaries who don't have the same sophistication or skill level. "What we talked about in the earnings call is the ability to create more adversaries with lower skill levels, but operating at a much higher skill level, leveraging generative AI," Kurtz said, "Of course, on the security side, we leverage generative AI to help protect our customers, so it's going to be the battle of AI in the future." CrowdStrike aims to create a single, more simple platform that can stop breaches and "add capabilities seamlessly," he said. He mentioned a seven-figure deal CrowdStrike made during its more recent quarter with a mega cruise line. "People may try to buy something, they may think it's cheaper, it's not: free is not free," he said.

Persons: George Kurtz, CNBC's Jim Cramer, Kurtz, cybercrime, CrowdStrike

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