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☆ ‘World’s largest’ plant to suck carbon out of the air and turn it into stone opens in Iceland
▼ + stars: | 2024-05-08 | by ( Laura Paddison | ) edition.cnn.com time to read: +4 min

Direct air capture, or DAC, is a technology designed to suck in air and strip out the carbon using chemicals. Climeworks plans to transport the carbon underground where it will be naturally transformed into stone, locking up the carbon permanently. ClimeworksClimeworks' Mammoth plant will eventually be able to capture 36,000 tons of carbon from the air. It will increase the size of equipment to capture carbon pollution. It’s this kind of process that makes some critics concerned carbon removal technologies could be used to prolong production of fossil fuels.

Persons: ”, Lili Fuhr, Haukur, Climeworks Climeworks, Stuart Haszeldine, it’s, Jan Wurzbacher Organizations: CNN, Climeworks, Center for International Environmental Law, Mammoth, University of Edinburgh, International Energy Agency, Stratos, Occidental Locations: Iceland, Swiss, Texas, Occidental, Kenya, United States

☆ Robinhood climbs after reporting record earnings for first quarter
▼ + stars: | 2024-05-08 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Robinhood rose in extended trading Wednesday afternoon after the retail brokerage announced stronger-than-expected first-quarter results. Robinhood reported net income of $157 million, or 18 cents per share, for the first quarter. Cryptocurrency transactions accounted for $126 million in revenue in the quarter, the company said. Robinhood said that its number of funded customers rose by 810,000 year over year to 23.9 million. Shares of Robinhood were up nearly 40% year to date before Wednesday's earnings announcement.

Persons: Robinhood, Dan Gallagher, Robinhood's Organizations: LSEG, Securities and Exchange Commission

☆ Watch CNBC’s full interview with Ritholtz's Josh Brown, Wells Fargo’s Chris Harvey and Truist’s Keith Lerner
▼ + stars: | 2024-05-08 | 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 EmailWatch CNBC’s full interview with Ritholtz's Josh Brown, Wells Fargo’s Chris Harvey and Truist’s Keith LernerRitholtz's Josh Brown, Wells Fargo's Chris Harvey, and Truist's Keith Lerner join 'Closing Bell' to discuss the resilience of the market rally, earnings season, and opportunity play in the market.

Persons: Ritholtz's Josh Brown, Wells, Chris Harvey, Truist’s Keith Lerner, Josh Brown, Truist's Keith Lerner

☆ Stock market today: Rally wavers but Dow edges higher for 6th straight session
▼ + stars: | 2024-05-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks wobbled on Wednesday but the Dow managed to notch its sixth winning session in a row. Tech stocks slid. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks were mixed Wednesday, with a sell-off in tech names causing a broader stock rally to waver after a streak of gains. Tech stocks slid, with downbeat Uber earnings sparking a 5.7% decline in the stock, while Intel fell after lowering revenue guidance for the quarter.

Persons: Dow, Uber, —, Wells Fargo Organizations: Tech, Service, Dow Jones Industrial, Intel, Investors

☆ Top minds at Milken unveil what they're seeing under the surface of the US economy as the national debt burden rises to nauseating levels
▼ + stars: | 2024-05-08 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

For the 27th straight year, some of the brightest minds from across the business world descended on Beverly Hills in early May to attend the Milken Institute Global Conference. But while speculation stole headlines, Milken speakers spent much of their time fixated on the state of the US economy. But despite continued concerns about stagflation, Milken speakers overwhelmingly expressed confidence about economic growth at a May 6 session called "Global Markets at Inflection." "The economy is still extremely strong, consumers are still doing really well, businesses are still doing really well," Scharf said. Though far from perfect, the US is still the best place to investDespite the $34.7 trillion anvil hanging over the economy, Milken speakers widely agreed that the US is still the best place to invest and operate a company.

Persons: Elon Musk, he's, Milken, Wells, Franklin Templeton, Gerard Baker, Andre Esteves, Jenny Johnson, Charlie Scharf, Scharf, we've, it's, you've, hasn't, Sam, Joshua Friedman, Anne Walsh, Friedman, Esteves, they've, Johnson, " Scharf, Wells Fargo Organizations: Milken Institute Global, SpaceX, Business, Milken, The, Consumers, Starbucks, Canyon Partners, Investors, Guggenheim Investments, Milken Institute Global Conference, US Locations: Beverly Hills, Wells Fargo, Brazil, McDonald's, Washington

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMajor banks team up to test network for tokenized money and U.S. Treasurys: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Alma Angotti, partner and global legislative and regulatory risk leader at the consulting firm Guidehouse, weighs in on recent actions by the SEC, including the Wells Notice sent to Robinhood over its crypto operations.

Persons: explainers, Alma Angotti, Wells Organizations: CNBC Crypto, CNBC, SEC

☆ Atlantis The Royal, Dubai: Inside the Middle East’s ‘best’ hotel
▼ + stars: | 2024-05-07 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

Atlantis, The Royal Atlantis, The Royal: The double-height bar is perfect for sunset cocktails — although you won't be making your own drinks, as there's a 24-hour bartender ready to make your favorites. Atlantis, The Royal Atlantis, The Royal: The triple-height library provides a secluded space to work, read or relax. Atlantis, The Royal Atlantis, The Royal: The entertainment room is kitted out with a 98-inch LED screen for a home cinema experience. Atlantis, The Royal Atlantis, The Royal: Every room has stunning views — including the marble-clad bathrooms. Atlantis, The Royal Atlantis, The Royal: Guests can enjoy designer amenities made by French fashion house Hermès, as well as bespoke gold toothbrushes, combs and brushes.

Persons: Swedish House Mafia —, there’s, ”, Tom Roelens, There’s, Cabana, Rebecca Cairns, Kendall Jenner, “ We’ve, we’ve, Graff, bathrobes, Jay Z, Louis, Valentino —, “, it’s, Estiatorio Milos, Costas Spiliadis, — Organizations: CNN, Swedish House Mafia, Royal, Atlantis Resorts, Dolce, Gabbana, cabanas, Atlantis, “ Royal, Nobu, —, Chefs, Sky Locations: Dubai, Beyoncé, isn’t, Arabian, Atlantis Royal Dubai

☆ SEC Chair Gensler on crypto regulation: Right now investors aren't getting the required disclosures
▼ + stars: | 2024-05-07 | 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 EmailSEC Chair Gensler on crypto regulation: Right now investors aren't getting the required disclosuresSEC Chair Gary Gensler joins 'Squawk Box' to discuss the agency's oversight of the crypto market, the SEC's Wells notice to Robinhood Crypto, Consensys lawsuit against the SEC, why the agency charged Trump Media auditor with 'massive fraud', and more.

Persons: Gensler, aren't, Gary Gensler, Wells, Robinhood Crypto Organizations: SEC, Trump Media

☆ SEC Chair Gary Gensler dodges Trump Media campaign finance questions
▼ + stars: | 2024-05-07 | 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 EmailSEC Chair Gary Gensler dodges Trump Media campaign finance questionsSEC Chair Gary Gensler joins 'Squawk Box' to discuss the agency's oversight of the crypto market, the SEC's Wells notice to Robinhood Crypto, Consensys lawsuit against the SEC, why the agency charged Trump Media auditor with 'massive fraud', and more.

Persons: Gary Gensler dodges, Gary Gensler, Wells, Robinhood Crypto Organizations: SEC, Gary Gensler dodges Trump Media, Trump Media

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC Chair Gensler says investors don't get 'needed disclosures' for crypto assets: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Dave Weisberger, executive chairman of CoinRoutes, discusses Robinhood's disclosure that the SEC sent a Wells Notice over its crypto operations.

Persons: Gensler, explainers, Dave Weisberger, CoinRoutes Organizations: SEC, CNBC Crypto, CNBC

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Target, Gap, Nike, Palantir, Goldman Sachs & more
▼ + stars: | 2024-05-07 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Goldman Sachs reiterates Nvidia as buy Goldman said it sees a "favorable" risk/reward for shares of Nvidia. Goldman Sachs reiterates ServiceNow as buy Goldman said it's standing by its buy rating on the stock following its financial analyst day. Bank of America reiterates Palantir as buy Bank of America said it's sticking with its buy rating after the company released earnings on Monday. Wells Fargo reiterates Goldman Sachs as overweight Wells increased its price target on Goldman to $504 per share from $450. price target."

Persons: TGT, Goldman Sachs, Goldman, ServiceNow, Wells, Palantir, Wolfe, TD Cowen, Ares, Cowen Organizations: Citi, Target, Nvidia, UBS, Vale, Bank of America, Apple, UL, tailwinds, Artificial Intelligence, Nike, Cameco, Nike Inc, Barclays, CVS Locations: Las Vegas

☆ Here are Monday's biggest analyst calls: Nvidia, Apple, Amazon, U.S. Steel, Micron, Disney, Citi & more
▼ + stars: | 2024-05-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley initiates EHang Holdings as overweight Morgan Stanley said it's bullish on shares of the Asia autonomous aerial vehicle company. Morgan Stanley downgrades Victoria's Secret to underweight from equal weight Morgan Stanley said it sees "underappreciated downside" for the lingerie company. Citi downgrades Peloton to neutral from buy Citi said in its downgrade of the stock that it has "limited visibility." Morgan Stanley upgrades U.S. Steel to overweight from equal weight Morgan Stanley said in its upgrade of U.S. Steel that it likes the company's "transformational investments." Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's sticking with its overweight rating on Apple after analyzing the company's quarterly 10-Q report.

Persons: Morgan Stanley, it's, Baird, Morgan Stanley downgrades, Wells, Bausch, Lomb, Apple, Johnson, MLCO, Moffett, Melius, inferencing, JPMorgan Organizations: EHang Holdings, EH, Deutsche Bank, Disney, Deutsche, Micron, Citi, Comerica, CMA, Steel, U.S . Steel, Apple, Services, UBS, JCI, Barclays, Resorts, Nvidia, Broadcom, AMD, Microsoft, JPMorgan, Group, Bank of America, Santander Brasil, of America Locations: Asia, U.S

☆ Robinhood says SEC could pursue enforcement actions over its crypto operations
▼ + stars: | 2024-05-06 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The Securities and Exchange Commission could soon pursue enforcement action against Robinhood , according to the trading firm. Robinhood disclosed in a filing Monday that over the weekend the regulator sent it a warning that upon completion of an investigation the company could be charged. "We firmly believe that the assets listed on our platform are not securities and we look forward to engaging with the SEC to make clear just how weak any case against Robinhood Crypto would be on both the facts and the law," he said. Shares of the stock initially fell 2% but have reversed. They were recently trading up 1%.

Persons: Robinhood, Dan Gallagher, Robinhood's, Robinhood Crypto Organizations: Securities, Exchange Commission, Robinhood, SEC

But there’s an overlooked set of winners as well: utilities and energy companies. The power demands of the huge data centers that underpin the A.I. Wall Street is taking notice — but the climate effect isn’t getting as much attention. Tech’s energy needs are coming into focus as investors get to grips with how much of an “energy hog” generative A.I. Analysts at Wells Fargo see the A.I.

Organizations: Microsoft Locations: Wells

☆ Are iPhone sales growing or shrinking in China? That depends on which data points you look at, says an analyst.
▼ + stars: | 2024-05-06 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

Tim Cook said iPhone sales grew in China, despite external research showing a decline. China accounted for 18% of Apple's sales, making it a critical market for the tech giant. However, over the last quarter, independent analysts have reported a slump in overall iPhone sales in China. iPhone sales in China are a closely watched metric because greater China accounted for 18% of Apple's sales across products in the first quarter, according to the earnings results. Related storiesCook's limited remarks on China's iPhone sales raised questions on Friday's call from analysts who compared Apple's data with independent reports.

Persons: Tim Cook, —, Cook, Max, Wells, Aaron Rakers, Will Wong, Wong Organizations: Apple, Service, Counterpoint Research, International Data Corporation, IDC, Bloomberg Locations: China, Hong Kong, Taiwan

6:41 a.m.: Morgan Stanley raises Carvana price target Morgan Stanley likes what it sees from Carvana after its "operational turnaround." The bank reiterated an underweight rating on the used car retailer but raised its price target to $75 per share from $45. "Throughout 2023, CVNA transitioned from a distressed equity into an operational turnaround with a restructured interest burden," Morgan Stanley analyst Adam Jonas said. The firm downgraded the HVAC stock to neutral from buy and lowered its price target to $68 per share from $74. MU YTD mountain MU year to date — Brian Evans 5:45 a.m.: Morgan Stanley upgrades U.S. Steel There's a big buying opportunity in U.S. Steel after a recent pullback this year, according to Morgan Stanley.

Persons: Morgan Stanley, Baird, Morgan Stanley's, CVNA, Adam Jonas, — Brian Evans, Wells, Mike Mayo, Mayo, Brian Evans, Johnson, Damian Karas, " Karas, Tristan Gerra, Gerra, Carlos De Alba, Alba, De Alba, Fred Imbert Organizations: CNBC, U.S, Steel, Micron Technology, Wells Fargo, Citi, UBS, Johnson, JCI, Micron, MU, Nippon Steel, U.S . Steel, . Steel Locations: Carvana, Wells Fargo, Friday's, U.S

☆ Disney reports earnings before the bell Tuesday. Here's what Wall Street is watching
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Walt Disney puts its top-tier media dominance to the test when it reports results before the bell Tuesday. Wells Fargo's Steven Cahall upped his price target to $141 a share, suggesting upside of 24%. StreetAccount estimates call for 229.35 million subscribers across the business unit and nearly 155 million Disney+ subscribers. At its last earnings call in February, Disney said it expects between 5.5 million to 6 million added subscribers in the second quarter. He forecasts an additional 4 million subscribers each year.

Persons: Walt Disney, Nelson Peltz, Jessica Reif Ehrlich, David Karnovsky, Wells Fargo's Steven Cahall, Deutsche Bank's Bryan Kraft, Disney, Vijay Jayant, America's Ehrlich Organizations: Trian Partners, LSEG, Walt Disney, Bank of America, JPMorgan, Disney, Deutsche, DTC, Netflix, Bank Locations: F1Q

The earnings season is winding down, but there are some names slated to report that could see big moves — in either direction. Already, more than 80% of companies in the S & P 500 have already posted quarterly results this earnings season as of Monday morning. Against that backdrop, CNBC Pro screened for names reporting this week — with market caps of $1 billion or more — that could experience sharp up- or downside moves, based on trading activity in the options market. Here are the names that made the list: Upstart Holdings is the reporter this week that could be in for the biggest move at nearly 19%. Rideshare stock Lyft also made the list.

Persons: Uber, America's Mihir Bhatia, Bhatia, Lyft, LSEG, Jefferies, John Colantuoni, Colantuoni, Bank of America's Jessica Reif Ehrlich, Ehrlich, WBD Organizations: Disney, CNBC Pro, Holdings, LSEG, Bank, America's, Warner Bros, Bank of America's Locations: California

☆ AI could drive a natural gas boom as power companies face surging electricity demand
▼ + stars: | 2024-05-05 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

AI data centers alone are expected to add about 323 terawatt hours of electricity demand in the U.S. by 2030, according to Wells Fargo. The forecast power demand from AI alone is seven times greater than New York City's current annual electricity consumption of 48 terawatt hours. The natural gas industry is betting gas will serve as the preferred choice. Coal plant retirements and data centers could result in 6 bcf/d of new natural gas demand in EQT's backyard by 2030, the CEO said. The level of electricity demand could help lift natural gas prices out of the doldrums.

Persons: Kena, Goldman Sachs, Robert, Richard Kinder, Kinder Morgan, Kinder, Roger Read, Wells, Goldman, Toby Rice, Rice, CNBC's, Christopher Womack, Robert Blue, EQT, Jeremy Knop, Knop, Blue, Read, Lynn, Zack Van Everen, Robert Kinder Organizations: Linden, View Press, Getty, Amazon, Google, Microsoft, Meta, Rystad Energy, Robert Blue Dominion Energy, Gas, Holt, Co, EQT Corp, U.S ., Dominion Energy, Georgia Power, Southern Company, Dominion, Renewables, CNBC, Lynn Good, Energy Locations: Linden New Jersey, U.S, Wells, Wells Fargo, New York, Houston, Pickering, Northern Virginia, Georgia, Appalachian, Virginia, Gulf

We'll show you everything you need to know about where to watch the women's Madrid Open final live stream for free. How to watch Madrid Open women's final in the USThe Madrid Open airs on the Tennis Channel in the US. For those without cable, you can access it by subscribing to a live TV package like Sling TV or Hulu + Live TV. Hulu + Live TV Hulu + Live TV includes over 90 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN Plus. Shop at HuluHow to watch Madrid Open women's final in New ZealandSelect WTA matches, including the Madrid Open finals, air on TVNZ in New Zealand.

Persons: Swiatek, Aryna, Sabalenka, you've, we've, you'll, Hulu's, ExpressVPN Organizations: Business, Madrid, WTA, Indian Wells Masters, Tennis Channel, Hulu, Tennis, ESPN, Disney, Disney Plus, New Zealand, TVNZ Locations: New, New Zealand

A handful of stocks are entering or about to enter the worrisome so-called death cross. A death cross can also be indicative of a forthcoming bear market pattern. Intel Intel disappointed Wall Street's first-quarter expectations last week, when it posted a beat in earnings per share but came up light in revenue. McDonald's McDonald's has also drawn a death cross. CVS Health Unlike the other two names, CVS Health is nearing a death cross.

Persons: Wall Street's, Goldman Sachs, Toshiya Hari, McDonald's, Kevin Caliendo, Caliendo Organizations: Intel, CNBC, Intel Intel, Nvidia, CVS Health, CVS, UBS Locations: Gaza, mgt

☆ Jim Cramer says Alphabet is a buy and the most undervalued large tech stock
▼ + stars: | 2024-05-03 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Jim Cramer suggested some of Apple's AI commentary Thursday night could be a factor in the Google parent's stock move. We continue to believe the market is underappreciating Coterra's ability to pullback production in natural gas in favor of oil. 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, That's, Jim, Tom Jorden, Jorden, Nelson Peltz, Peltz, Jim Cramer's Organizations: CNBC, Apple, Conference, Nasdaq, Google, Federal Reserve, Institute for Supply, Coterra Energy, Diamondback Energy, Cinco, Cinco de Mayo, Constellation Brands, Corona, Modelo, Disney, Jim Cramer's Charitable Locations: U.S, Cinco de

☆ Here are Friday's biggest analyst calls: Apple, Target, Coinbase, Berkshire Hathaway, Estee Lauder & more
▼ + stars: | 2024-05-03 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

JPMorgan upgrades Williams-Sonoma to neutral from underweight JPMorgan said in its upgrade of the stock that the home furnishings category is stabilizing. "We are downgrading shares of EXPE to Mkt Perform from OP with a target price of $145 vs. $165 previously." JPMorgan upgrades Joby to neutral from underweight JPMorgan said its bear thesis has largely played out for the aviation company. Guggenheim reiterates Target as buy Guggenheim said investors should buy the dip in shares of Target . Morgan Stanley downgrades Estee Lauder to equal weight from overweight Morgan Stanley said it sees a slower recovery for shares of Estee Lauder .

Persons: Stifel, Wells, Truist, OLLI, Guggenheim, Tim Cook, William Blair, Amgen, Jefferies, We've, Ari sta, it's, Morgan Stanley downgrades Estee Lauder, Morgan Stanley, Estee Lauder, TD Cowen, Parsons, Bernstein, Oppenheimer, CFRA, Berkshire Hathaway Organizations: RBC, FTAI Aviation, Pacific, Union Pacific, JPMorgan, Williams, WSM, BMO, Bank of America, Apple, Kiniksa Pharmaceuticals, JOBY, Guggenheim, Target, Citi, MCW, Arista, PSN, Avidity, ~$ Locations: Sonoma, EXPE, GEICO

☆ Apple is about to jump into the AI race. Here's what analysts expect it to do
▼ + stars: | 2024-05-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."

Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC

☆ Apple iPhone weakness in China is overdone, says Wells Fargo analyst
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple iPhone weakness in China is overdone, says Wells Fargo analystAaron Rakers, Wells Fargo Securities managing director, joins 'Fast Money' to talk the bull case for Apple, iPhones and AI, and what's ahead for the tech company.

Persons: Wells, Aaron Rakers Organizations: Wells Fargo Securities, Apple Locations: China, Wells Fargo

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