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Maskot | Digitalvision | Getty ImagesWorkers are sour on the job market — but that pessimism may be somewhat misplaced. So far in 2024, for example, big technology firms including Amazon, eBay, Google and Microsoft have announced job cuts. U.S.-based companies planned about 722,000 job cuts in 2023, almost double those announced in 2022, according to Challenger, Gray & Christmas, an outplacement and executive coaching firm. watch nowHowever, those recent headlines mask strength in the overall job market, economists said. "It's still a very robust and resilient labor market overall," Pollak said.
Persons: Daniel Zhao, Zhao, it's, Mark Zandi, Zandi, they've, Julia Pollak, " Pollak Organizations: Digitalvision, Getty Images Workers, Amazon, eBay, Google, Microsoft, Citigroup, Universal Music Group, U.S, Challenger, Moody's, Federal Reserve Locations: BlackRock, U.S
Last June, on a whim, I canceled Amazon Prime. I still regularly buy things from Amazon with free shipping, but I'm happily out on Prime. After canceling Prime, I've been able to reevaluate the necessity of that ultra-fast, free shipping and have found it mostly unneeded. AdvertisementLeaving Prime also meant the end of free Amazon Prime Video, but I've been able to bear it. If Amazon Prime members started reconsidering and discarded the service en masse, it would be trouble for the company.
Persons: I'd, I'm, I've, Max Organizations: Amazon Prime, Amazon, Netflix, Big Technology Locations: America
Netflix Q4 earnings on deck: What you need to know
  + stars: | 2024-01-23 | 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 EmailNetflix Q4 earnings on deck: What you need to knowJason Snipe, founder and CIO at Odyssey Capital Advisors, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss Netflix ahead of the company reporting earnings.
Persons: Jason Snipe, Alex Kantrowitz Organizations: Netflix, Odyssey Capital Advisors, Big Technology
Investors may want to look at quality names as the market stalls. In a turbulent environment, traditional market wisdom suggests investors can be best served by having exposure to quality stocks. The average price target implies a gain of 6.2% over the next year, adding to its advance of more than 56% in 2023. Wells Fargo's Michael Turrin recently hiked his price target on Microsoft to $435 per share from $425, seeing an "uplift" driven by artificial intelligence. The average analyst also anticipates a better path ahead, with a price target reflecting an upside of about 24%.
Persons: CMEGroup's, Wells Fargo's Michael Turrin, ResMed, RMD, Peter Low Organizations: Traders, Federal Reserve, CNBC, CNBC Pro, Microsoft, FactSet, Oil, Exxon Mobil, Exxon, Super
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBefore DeepMind's Demis Hassabis became a leading figure in AI, he was a chess master who had won multiple world championships. Hassabis told Thiel that the best chess players understood the unique strengths of the bishop and the knight, even though both pieces hold the same value. It was not only DeepMind's first significant investment but also one of Thiel's first investments outside the Silicon Valley orbit. He felt the power of Silicon Valley was sort of mythical, that you couldn't create a successful big technology company anywhere else.
Persons: , Demis Hassabis, Hassabis, Peter Thiel, Thiel, Shane Legg, Mustafa Suleyman, he'd, It's, DeepMind Organizations: Service, DeepMind, The New York Times, Times, Google, Business Locations: West Coast, Silicon, London
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSam Altman returning to OpenAI will open the floodgates in competition, says Alex KantrowitzAlex Kantrowitz, founder of Big Technology, joins 'The Exchange' to discuss Sam Altman returning to OpenAI, shares of Microsoft, and more.
Persons: Sam Altman, Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Microsoft Locations: OpenAI
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with CIC Wealth Malcolm Ethridge and Big Technology's Alex KantrowitzMalcolm Ethridge, CIC Wealth Executive Vice President, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss their year-end playbook, market outlook, and tech sector.
Persons: Malcolm Ethridge, Alex Kantrowitz Malcolm Ethridge, Alex Kantrowitz Organizations: Big Technology
The social pillar of the environmental, social and corporate governance investing framework — known as ESG in short — has been dubbed the "middle child" largely due to data challenges. For years, the social pillar has been considered relatively nebulous and hard to quantify. And it comes despite the fact that the ESG investing framework has found itself in hot water politically. In these cases, she said the social pillar comes into play in ensuring a carbon transition is equitable and just. A fraught environmentGlobally, it appears social themes will become more clear and important to investors over time.
Persons: Michael Nagle, ESG, Michael Young, Young, They're, Marian Macindoe, Insperity, Fuller, Macindoe, that's, Yijia Chen Organizations: New York Stock Exchange, Bloomberg, Getty Images Bloomberg, Getty, Sustainable Institute, BNP, Securities and Exchange, Commission, Parnassus Investments, Irrational Capital, Microsoft, Apple, Apple Hospitality, Calvert Research, Management Locations: New York, U.S, United States, Harbor, ESG
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI is already a company headed for a decline, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Fast Money' to talk Sam Altman's departure from OpenAI and what's ahead for the company.
Persons: Big, Alex Kantrowitz Alex Kantrowitz, Sam Altman's Organizations: Big Technology Locations: OpenAI
Testifying under oath is a task that many tech chief executives might be asked to do in the coming years, with Amazon, Meta and others facing their own antitrust court fights. Though he was never called to the witness stand to testify, Bill Gates, who was chief executive of Microsoft in the last big technology antitrust case brought by the Justice Department more than two decades ago, came across as combative and evasive in depositions. Mr. Zuckerberg has at times exasperated lawmakers with vague responses, while Mr. Altman appeared to charm senators in a hearing this year. The main duty on the witness stand for Mr. Pichai — a low-key and detail-focused executive — has been to keep the temperature low under questioning and keep to the central point of Google’s antitrust defense: that it is an innovative company that has maintained its leadership through innovation and hard work instead of illegal monopolistic behavior. The Justice Department filed its landmark antitrust suit against Google in October 2020, arguing that the company’s default-search deals with phone makers and browser companies helped it illegally maintain a monopoly.
Persons: Bill Gates, Mark Zuckerberg, OpenAI’s Sam Altman, Zuckerberg, Altman, Pichai, Organizations: Amazon, Microsoft, Justice Department, Google
Appaloosa Management's David Tepper upped his stake in a handful of big technology names in the latest quarter — with one notable exception, regulatory fillings show. Broadcom , Cadence Design and Marvell Technology were among other stocks that Appaloosa zeroed out in the quarter. KE was Appaloosa's only new holding in the latest quarter, but amounted to just a $37 million position. In fact, Tepper's top five holdings are all mega-cap tech names, according to InsiderScore. The Pitt and Carnegie Mellon grad raised his Meta and Microsoft holdings even more, each one almost a third larger by quarter's end.
Persons: David Tepper, Tepper Organizations: Meta, Microsoft, Nvidia, Securities and Exchange Commission, Apple, Broadcom, Cadence Design, Marvell Technology, Carolina Panthers football, Baidu, Holdings, American, Pittsburgh, Pitt, Carnegie Mellon grad Locations: China, Beijing
Fortinet — Shares dropped 23.1% after the cybersecurity company missed earnings expectations and gave a weak outlook for the current quarter. Fortinet posted $1.33 billion in revenue for the third quarter and said to expect between $1.38 billion and $1.44 billion in the current quarter. Both underwhelmed analysts polled by LSEG, who anticipated $1.35 billion in revenue for the third quarter and a current-period estimate of $1.5 billion. Revenue for the third quarter came in at $285.9 million, above the $275 million forecast from analysts polled by FactSet. Meanwhile, the company saw adjusted EBITDA at $6.1 million, while analysts had anticipated a loss of $0.6 million.
Persons: Fortinet, LSEG, Block, Bill Holdings, Bill, Expedia, Nation's, Taylor Swift, FactSet, Carvana, , Wall, Uber, Jesse Pound, Yun Li, Michelle Fox Organizations: Apple —, Paramount, LSEG, Holdings, Revenue, FactSet, & $
A strong advertising market may be starting to feel the pressure from geopolitical risks erupting aboard and a higher-for-longer interest rate environment. But comments from some major technology players last week led to increasing questions that some investors have struggled to shake off. META 5D mountain Meta shares in recent trading sessions That concern added to declines in other ad-focused technology names, with Alphabet dropping nearly 10%. Instead, Tengler favors companies such as Amazon and Microsoft , which offer some, but less concentrated, exposure to advertising. Technology investor Paul Meeks is also shying away from the most popular advertising players — and big technology as a whole — until he sees a better setup for interest rates.
Persons: Susan Li, Gene Munster, Laffer, Nancy Tengler, Paul Meeks, Meeks, Roth, Rohit Kulkarni, Kulkarni, Michael Bloom Organizations: Apple, Meta, YouTube, Federal, Investments, Microsoft, Technology Locations: Israel, Munster, Ukraine
The shaky stock market is making Americans feel uneasy
  + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com   time to read: +2 min
Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.
Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Solus’ Dan Greenhaus, Big Technology’s Alex Kantrowitz and Evercore ISI's Mark MahaneyMark Mahaney, Evercore ISI head of internet research, Dan Greenhaus, Solus Alternative Asset Management chief strategist, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss the market reaction to tech earnings and outlook for the rest of 2023.
Persons: Solus ’ Dan Greenhaus, Big, Alex Kantrowitz, Mark Mahaney Mark Mahaney, Dan Greenhaus Organizations: Asset Management, Big Technology
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology's Alex Kantrowitz calls the market 'jittery' for tech earnings reactionDan Greenhaus, Solus Alternative Asset Management chief strategist, and Alex Kantrowitz, Big Technology founder, join 'Closing Bell' to discuss the market reaction to tech earnings and outlook for the rest of 2023.
Persons: Alex Kantrowitz, Dan Greenhaus Organizations: Asset Management, Big Technology
Big technology stocks may surprise to the upside when they report results in coming days. But even a better-than-expected quarter and companies' improved earnings and revenue forecasts may not be enough to save the market from its recent reversal, according to some professional investors. That continues Tuesday with results from Alphabet and Microsoft , followed by Meta Platforms on Wednesday and Amazon Thursday, all after the market closes. The earnings setup Heading into the earnings, many companies face easier comparisons over last year. Of the largest tech stocks, Meta Platforms is expected to show rapid revenue growth acceleration, at 21%.
Persons: Adam Sarhan, there's, Ken Mahoney, bode, Gene Munster, Bernstein's Mark Shmulik, Nvidia, Munster, Sarhan Organizations: Investments, Big Tech, Netflix, Microsoft, Meta, Federal, Asset Management, Federal Reserve Locations: what's, East, Europe
[1/2] Small toy shopping cart is seen in front of displayed Amazon logo in this illustration taken, July 30, 2021. In its filing, Amazon said it "prominently and repeatedly" disclosed key terms — including price and automatic renewal — to Prime customers. Amazon also accused the FTC of seeking to punish the company through "undefined concepts" such as "manipulative" website designs. "In a case supposedly about clarity, the FTC's purported standards are unconstitutionally opaque," Amazon said. The FTC's Prime lawsuit said Amazon "under substantial pressure" from the FTC changed its cancellation process in April, before the agency filed its lawsuit.
Persons: Dado Ruvic, John Chun, Biden, Mike Scarcella, David Bario, Josie Kao Organizations: REUTERS, Amazon Prime, Federal Trade Commission, Amazon, Wednesday, U.S, District, FTC, Amazon.com, Thomson Locations: Seattle, Chun's Seattle
Tesla and Netflix earnings: Here's what to expect
  + stars: | 2023-10-18 | 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 EmailTesla and Netflix earnings: Here's what to expectDan Ives, Wedbush analyst, Alex Kantrowitz, Big Technology founder, and Jason Snipe, founder & CIO at Odyssey Capital Advisors, join 'Closing Bell' to discuss Netflix and Tesla as both companies report their earnings after the bell.
Persons: Dan Ives, Alex Kantrowitz, Jason Snipe, Tesla Organizations: Netflix, Big Technology, Odyssey Capital Advisors
Tesla and Netflix Q3 earnings: What to expect
  + stars: | 2023-10-18 | 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 EmailTesla and Netflix Q3 earnings: What to expectDan Ives, Wedbush analyst, Alex Kantrowitz, Big Technology founder, and Jason Snipe, founder & CIO at Odyssey Capital Advisors, join 'Closing Bell' to discuss Netflix and Tesla as both companies report their earnings after the bell.
Persons: Dan Ives, Alex Kantrowitz, Jason Snipe, Tesla Organizations: Netflix, Big Technology, Odyssey Capital Advisors
Nvidia's high-performance chips power many advanced generative AI models, which produce new content from huge volumes of training data. The world has been abuzz with talk about generative AI tools like OpenAI's ChatGPT, Google's Bard and Anthropic's Claude. The U.S. led the way in generative AI funding deals, with the likes of OpenAI and Anthropic raising billions. AccelIn Europe, three of the biggest generative AI company rounds came out of France — Hugging Face ($235 million), Poolside ($126 million) and Mistral AI ($113 million). In Europe and Israel, 40% of new unicorns were in generative AI; in the United States, it was 80%.
Persons: Botteri, Google's Bard, Anthropic's Claude, Philippe Botteri, they're, OpenAI, they'd Organizations: Future Publishing, Getty Images, Accel, Apple, Microsoft, Nvidia, Companies, Nasdaq, U.S, Public, CNBC, Mistral, Tech, Big Tech, FAANG, Netflix, Google Locations: U.S, Unity, Europe, Israel, France, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBig Technology founder Alex Kantrowitz explains why FTC faces an uphill battle against AmazonAlex Kantrowitz, Big Technology founder, joins 'Squawk Box' to discuss the latest developments in FTC's antitrust lawsuit against Amazon, why he believes the FTC faces an uphill battle with limited funding and thin staff, and more.
Persons: Alex Kantrowitz, Amazon Alex Kantrowitz Organizations: Big Technology, Amazon
Katie Hobbs at Google's September announcement of a a new $600 million data center in Mesa, Arizona. The amount of electricity needed to power data centers in the U.S. is expected to more than double by 2030, according to McKinsey. "With data centers, you're going to do all of the above to have capacity to meet those loads." Utilities struggle to meet data center loads while cutting carbonThe utility-level impact of the data center industry's energy demand reaches beyond Phoenix. In preliminary documents, it has identified data centers as "the major source of load growth during 2023-2038."
Persons: Karla Moran, Moran, Katie Hobbs, you've, Terry Boston, James Glynn, Glynn, Caryn Potter, it's, OPPD, that's, David Corbin, Corbin, Valerie Plesch, Aaron Ruby, Devon Smiley, Smiley, Lee Kestler, Ruby, George Frey, Wendy Bridges, Bridges, Jill Hanks, Hanks, Potter, Meghin Delaney, Reno, Kestler, EdgeCore, Hunter Holman, Delaney, Holman Organizations: Microsoft, Google, Digital Realty, Arizona Gov, McKinsey, PJM, Columbia University's Center, Global Energy Policy, Southwest Energy Efficiency, Utilities, Omaha Public Power, Sierra Club's, The Washington, Getty, Dominion Energy, Dominion, Blackstone, KKR, APS, Phoenix, Goodyear, NV Energy, Reno, Bay Area, Silver State, Western Resource Locations: Phoenix, Salt, Mesa , Arizona, City, Mesa, U.S, Arizona, Phoenix . Omaha , Nebraska, New York, Sierra Club's Nebraska, Woodbridge , Virginia, Virginia, Nebraska, OPPD, Eagle Mountain , Utah, Brookfield, Seattle, Goodyear, Bay, Nevada, Reno, Las Vegas, North
2023's surge in technology stocks fizzled in September as rising rates put a heavy dent in the artificial intelligence-fueled rally . Over the next few weeks, Deepwater Asset Management's Gene Munster is keeping an eye on September's consumer price index and nonfarm payrolls report ahead of the start of big technology earnings later in the month. "The good news is that this should right itself once the September quarter earnings come up." Sean Sun, a portfolio manager at Thornburg Investment Management, likened the earnings season to a "gut check" on AI beneficiaries. But these drawdowns could offer opportunities for long-term investors to snatch up technology bets at bargain prices, said Nancy Tengler.
Persons: what's, behemoths, Street's, Gene Munster, Erika Klauer, Sean Sun, Paul Meeks, Nancy Tengler, Meeks, Klauer Organizations: Nasdaq, Reserve, Enphase, Lucid, ASML, Netflix, Apple, Microsoft, Devices, Nvidia, Tech, Thornburg Investment Management, Laffer, Investments, ServiceNow, Adobe, Broadcom, Oracle, Meta, Jennison, AMD
Shares in Asia were mostly lower on Monday, with Tokyo the only major regional market to advance, after Wall Street wheezed to more losses with its worst week in six months. Worries over China’s property sector, a U.S. government shutdown and the continued strike by American autoworkers were weighing on investor sentiment. The retreat has deepened with Wall Street’s growing understanding that interest rates likely won’t come down much anytime soon. Pressure has built on Wall Street as yields in the bond market climbed to their highest levels in more than a decade. The Nasdaq composite, which is full of tech and other high-growth stocks, slumped 3.6% for its worst week since March.
Persons: Hang Seng, Australia's, They’d, Shawn Fain, Ford, It’s, Brent Organizations: American, China Evergrande, Dow Jones, Nasdaq, Federal Reserve, U.S, Motors, United Auto Workers, Auto, Treasury, that’s, Nvidia, Microsoft’s, Activision, Microsoft, New York Mercantile Exchange Locations: Asia, Tokyo, U.S, China, Shanghai, Seoul, American
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