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☆ CNBC Daily Open: Time to look at AI-adjacent plays
▼ + stars: | 2024-09-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Stoxx Europe 600 Bank Index fell 0.73% as investors monitored UniCredit's potential merger with Commerzbank . Done selling NvidiaNvidia CEO Jensen Huang is done selling the company's stock for now. In March, Huang set out a plan to sell up to six million Nvidia shares by first quarter of 2025.

Persons: Jensen Huang, Huang, Meta Organizations: CNBC, Dow Jones, Nasdaq, Commerzbank, Google, Microsoft Google, European Commission, European Union, Microsoft, Nvidia, Bain & Company, Labs, Hewlett Packard Enterprise Locations: Europe

☆ A new first-in-class Chinese attack submarine sank at a Wuhan shipyard in a pier-side accident
▼ + stars: | 2024-09-26 | by ( Chris Panella | ) www.businessinsider.com time to read: +4 min

One of China's newest attack submarines sank at a shipyard in Wuhan. China's shipbuilding industry is massive and at the core of its naval modernization efforts. AdvertisementOne of China's newest nuclear-powered attack submarines sank in a Wuhan shipyard, a US official told Business Insider, confirming earlier reporting. Costfoto/NurPhoto via Getty ImagesThe submarine's sinking comes as China's shipbuilding industry continues to fuel its naval modernization plans. The Pentagon has long identified China's shipbuilding industry as key to its naval buildup, which is occurring at a rapid pace.

Persons: —, Planet Labs PBC Thomas Shugart, uWFjFFblrZ, Tom Shugart Organizations: Service, Business, Zhou, Wall Street, Planet Labs, Planet Labs PBC Thomas, Center, New, New American Security, People's Liberation Army, PLA Navy, Getty, Pentagon Locations: Wuhan, Wuchang, China, New American, Beijing

☆ Stock futures are little changed as traders brace for Fed’s preferred inflation reading: Live updates
▼ + stars: | 2024-09-26 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures traded near the flatline Thursday night as Wall Street awaits a key inflation reading. Futures tied to the Dow Jones Industrial Average were little changed, as were S&P 500 futures . In the fiscal fourth quarter, the warehouse retailer reported earnings of $5.29 per share on $79.70 billion in fourth-quarter revenue. The so-called PCE is the Federal Reserve's preferred inflation metric, and policymakers and Wall Street alike are hoping for figures that show a cooling trend. The three major indexes are higher for the week, with the S&P 500 up nearly 0.8% and the 30-stock Dow Jones Industrial Average on pace to rise 0.3%.

Persons: LSEG, Jeffrey Roach Organizations: NYSE, Stock, Dow Jones, Nasdaq, Costco Wholesale, Financial, Traders Locations: U.S

☆ Meta CTO explains why it was important for Mark Zuckerberg to show off $10,000 smart glasses you can't buy
▼ + stars: | 2024-09-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +6 min

Meta unveiled its Orion AR glasses at the Meta Connect 2024 developer conference. Meta's CTO explained why it was important to show what the investment led to — even if you can't buy the glasses yet. But on Wednesday's Meta Connect 2024 developer conference, the CEO was finally able to unveil what many of those billions had been spent developing: the Orion AR glasses. AdvertisementMeta's Orion AR glasses, which feature displays built into the lenses and an array of sensors. AdvertisementMark Zuckerberg shows off the Orion AR glasses prototype at Meta Connect 2024.

Persons: Meta, —, Mark Zuckerberg's, He's, Zuckerberg, Andrew Bosworth, Stratechery's Ben Thompson, Bosworth, Mark Zuckerberg, Tim Cook, it's, Thompson Organizations: Orion, Meta, Service, Reality Labs, Facebook, Apple, Google, Apple Vision Pro, Meta's

☆ China’s newest nuclear-powered submarine sank earlier this year, US official says
▼ + stars: | 2024-09-26 | by ( Oren Liebermann | Paul P. Murphy | ) edition.cnn.com time to read: +3 min

CNN —China’s newest nuclear-powered submarine sank pierside in the spring and the Chinese Navy tried to conceal the loss, according to two US defense officials. The attack submarine was the first of its new Zhou-class line of vessels, the official said, under construction at a shipyard near the city of Wuhan. “It’s not surprising that the PLA Navy would try to conceal the fact that their new first-in-class nuclear-powered attack submarine sank pierside,” said the senior US defense official. According to the latest China military power report from 2023, the PLA Navy operates six nuclear-powered ballistic missile submarines, six nuclear-powered attack submarines, and 48 diesel-powered attack submarines. The PLA Navy has 370 platforms, which includes 234 warships, according to CRS, while the US has 219 warships.

Persons: The Zhou, Zhou, It’s, ”, Tom Shugart, “ I’ve, ” Shugart, Shugart Organizations: CNN, Chinese Navy, Maxar Technologies, PLA Navy, Center, New, New American Security, People’s Liberation Army, PLA ) Navy, US Navy, Street Journal, Congressional Research Service, Navy, CRS Locations: Wuhan, The, New American, Beijing, United States, China, Washington ,

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Micron, Nike, Meta, Microsoft, First Solar, Tesla & more
▼ + stars: | 2024-09-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

For long term investors we continue to believe they have the best enterprise AI platform and retain our 18-month $500 price target." Truist initiates First Solar as buy Truist said the solar company has a wide moat. " Deutsche Bank reiterates Tesla as buy The firm said it's sticking with its buy rating heading into the company's delivery report in October. UBS reiterates Micron as buy UBS said it's sticking with the stock following earnings on Wednesday. "We are taking the opportunity to reaffirm our positive view on DKNG and up our year-end 2025 price target to $54."

Persons: Goldman Sachs, Goldman, Morgan Stanley downgrades, Morgan Stanley, Oppenheimer, Truist, Tesla, Jefferies downgrades Hershey, Jefferies, it's, Orion, Bernstein, NYCB, Morgan Stanley downgrades Sonos, there's, JPMorgan, Ralph Lauren Organizations: UBS, GE Healthcare, Entertainment, Tencent, Microsoft, Inc, Deutsche Bank, Hershey, Susquehanna, Nvidia, NVIDIA, Nike, Deutsche, Apple, Barclays, Community Bank, Micron, MU, " Bank of America, Meta, Bank of America, SONO, UW, GE Vernova, GE, RL Locations: China

☆ Oppenheimer's top stock ideas heading into October
▼ + stars: | 2024-09-26 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

This comes after all three major averages recovered from the Aug. 5 global sell-off to close out last month higher. DKNG YTD mountain DKNG, year-to-date Biotechnology stock Viking Therapeutics also made the list. The stock has already surged more than 239% this year as its experimental obesity treatment advances through clinical trials. Telecommunications stock AT & T was another best idea, with its target of $23 implying more than 6% upside. Other names that made the list include Cigna , whose target implies more than 14% upside, and chip giant Broadcom .

Persons: Oppenheimer, Goldman Sachs, Jed Kelly, DKNG, Jay Olson, NASH, Timothy Horan, Horan isn't Organizations: Nasdaq, Dow Jones, Biotechnology, Viking Therapeutics, Telecommunications, AT, JPMorgan, Broadcom

☆ Mark Zuckerberg seems to have stuck the landing at Meta Connect
▼ + stars: | 2024-09-26 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Mark Zuckerberg's Meta Connect keynote impressed Wall Street, boosting Meta's stock on Wednesday. Zuckerberg unveiled new Meta Quest headsets, AI features, and Orion holographic glasses. AdvertisementMeta CEO Mark Zuckerberg needed less than an hour to wow Wall Street. He took the stage at Meta Connect in a T-shirt dedicated to himself and delivered a keynote that Wall Street seems to be responding well to. Zuckerberg introduced a new lineup of Meta Quest headsets, some impressive AI features coming to the company's smart glasses, and gave the public a glimpse of the highly anticipated Orion holographic glasses.

Persons: Mark Zuckerberg's, Wall, Zuckerberg, —, Mark Zuckerberg, Dan Ives Organizations: Mark Zuckerberg's Meta, Service, Meta, Wedbush Securities, Business

The videos from Saudi Arabia’s futuristic urban development project spread quickly across the internet, and almost as quickly started to disappear. A handful of smaller accounts within this small community of Neom-based content creators remain active, with their videos still viewable. NEOM/Cover-Images.com via Reuters fileThe spokesperson said the latest marketing campaign was about Saudi National Day and was shared to LinkedIn last week. On Thursday last week, at least four other Neom-based content creators suddenly went dark, though one account seemed to reactivate later that day. In many ways, according to researchers, Neom is tied to Saudi Arabia’s efforts to reshape its reputation on the global stage.

Persons: Prince Mohammed bin Salman, expats, Neom —, Neom, influencers, Jessica Herman, ” Herman, Ellen Wald, ”, “, ” Wald, TikTok, Hend Aly, Prince Mohammed, ” Aly, Wald, Aly, —, Jamal Khashoggi Organizations: Saudi, LinkedIn, ”, NBC News, Inc, University College London, BBC, Washington Post Locations: Saudi, Neom, Saudi Arabia, United States, Europe

As a federal criminal investigation hangs over former World Wrestling Entertainment CEO Vince McMahon, a new documentary series on Netflix offers a rare look at the man credited with turning professional wrestling into a cultural juggernaut. The series only briefly touches on the lawsuit filed against McMahon in January by former WWE employee Janel Grant, who accused him of sexual abuse and trafficking. Grant, who filed the suit against McMahon this year, did not participate in the documentary, according to her attorney, Ann Callis. McMahon,” the on-screen character that was born during the late 1990s “Attitude Era” of WWE, which was known for pushing into R-rated territory. When McMahon is asked in the fourth episode of the Netflix series what similarities he has with the Mr. McMahon character, he responds, “None whatsoever.” But in the sixth episode, he admits some overlap.

Persons: Vince McMahon, McMahon, Janel Grant, Rita Chatterton, you’re, ”, ” McMahon, Phil Mushnick, Owen Hart, “, “ I’d, Chris Benoit, “ I’m, Grant, Ann Callis, Vince, Mr, Shawn Michaels Organizations: World Wrestling Entertainment, Netflix, WWE, New York, Street Journal

☆ Ina Garten says redefining the traditional roles of 'man and wife' saved her marriage
▼ + stars: | 2024-09-25 | by ( Erin Liam | ) www.businessinsider.com time to read: +1 min

In an interview with The Wall Street Journal, Ina Garten opened up about her struggles with being defined as a wife. The celebrity cook said she and Jeffrey Garten took a break and decided to be partners instead. Go to newsletter preferences Thanks for signing up! Style posted on Tuesday, Garten, 76, said that she and Jeffrey were husband and wife in her 20s. So we took a little break and restructured it, coming out of it as partners, not in defined roles," she said.

Persons: Ina Garten, Jeffrey Garten, —, she's, Jeffrey Organizations: Wall Street, Service, White House, Food Network, Barefoot, Business Locations: Garten

☆ 'Don't fight the Fed': Barclays and Citi turn bullish on these stocks after rate cut
▼ + stars: | 2024-09-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The move prompted Wall Street giants Barclays and Citi to adopt a more optimistic stance on global cyclical stocks. Barclays believes the Federal Reserve's actions are "clearly designed to pull out all the stops to achieve a soft landing" for the economy. Barclays strategists noted that "cyclicals typically rebounded steadily after the Fed started its rate cut cycle ... as long as it was not followed by a recession." Citi strategists share a similar outlook for European stocks. "The scale of the downgrades has become so extreme of late that we're now approaching a point where negative ERI may be a useful contrarian indicator," the Citi strategists said.

Persons: Emmanuel Cau, Beata Manthey, we're, Safran, Atlas, — CNBC's Michael Bloom Organizations: Federal Reserve, Wall Street, Barclays, Citi, Fed, Siemens, BBVA, ING, Holcim, ASM Locations: United States

☆ Salesforce may finally have found its AI footing. What it means beyond the initial hype
▼ + stars: | 2024-09-25 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +8 min

Bowing to investor pressure, Salesforce has adopted a more disciplined approach to dealmaking, increasing the importance of internal product development. "Agentforce is the product announcement [Salesforce] investors have sought for years," Needham analysts wrote in a recent note to clients. Salesforce stock remains down about 13% from its 2024 peak close and record high of $316.88 a share on March 1. CRM 1Y mountain Salesforce's stock over the past 12 months. Analysts said Salesforce is cheap compared to peers on multiple valuation metrics with ample room to increase free cash flow ahead.

Persons: Salesforce, Jim Cramer, Agentforce, Mulesoft, Needham, Einstein, —, Jim, Bofa, Baird, Piper Sandler, Piper, Jim Cramer's, Marc Benioff, Salesforce's Dreamforce, Justin Sullivan Organizations: Wall Street, Nasdaq, Barclays, Saks, Investors, Bank of America, CNBC, Getty Locations: Dreamforce, San Francisco, San Francisco , California

☆ Stocks making the biggest moves midday: Flutter Entertainment, Hewlett Packard Enterprise and more
▼ + stars: | 2024-09-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Flutter Entertainment — The sports betting stock rose more than 6% after the FanDuel parent announced a share buyback program of up to $5 billion. Hewlett Packard Enterprise — The tech stock jumped more than 5% after Barclays upgraded the firm to overweight from equal weight. KB Home reported $2.04 in earnings per share, or 2 cents short of consensus estimates, according to analysts surveyed by LSEG. Analysts had expected $1.14 in earnings per share on revenue of $176.2 million, according to FactSet. The workplace uniform company sees revenue of $10.22 billion to $10.32 billion for fiscal 2025, compared to its prior guidance of $10.16 billion to $10.31 billion.

Persons: HPE, Morgan Stanley downgrades, Adam Jonas, Ford, Bilibili, Warren Buffett's Berkshire Hathaway, Cintas, — CNBC's Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han, Pia Singh Organizations: Hewlett Packard Enterprise, Barclays, Juniper Networks, General Motors, Ford —, JPMorgan, . Bank of America, LSEG, Trump Media & Technology Locations: Bilibili —

☆ Apartment rents are down and supply is up 170% in Buenos Aires since Argentina scrapped all rental regulations
▼ + stars: | 2024-09-25 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

Buenos Aires is seeing apartment rents down 40% and supply up over 170%, the WSJ reported this week. The controls limited annual rent increases, causing landlords to leave units empty or hike up initial lease prices. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Since last October, rents have fallen 40% and supply has skyrocketed over 170%, according to The Wall Street Journal.

Persons: — Organizations: Service, Wall Street, Business Locations: Buenos Aires, Argentina

☆ Watch CNBC's full interview with MercadoLibre CEO Marcos Galperin
▼ + stars: | 2024-09-25 | 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 MercadoLibre CEO Marcos GalperinMarcos Galperin, MercadoLibre CEO, joins CNBC's Kate Rooney to discuss how the e-commerce and payments company ballooned to dominate the Latin American market, and why it's emerging as a top pick on Wall Street as investors look for tech opportunities.

Persons: Marcos Galperin Marcos Galperin, Kate Rooney

☆ Stop driving yourself crazy trying to be ripped, fit, and healthy. A nutrition coach to Olympians and CrossFitters shares how he strikes the right balance.
▼ + stars: | 2024-09-25 | by ( Rachel Hosie | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Switching focus periodically"There's an amount of training that's going to help you get strong. There's an amount of training that's going to help you to lean out (with nutrition and everything too). And then there's an amount that's going to help you to perform at the highest levels of human performance," Molloy, who works with Olympians and professional CrossFit athletes, said. Molloy said many elite athletes essentially trade long-term health for elite performance, experiences, and, in some sports, "a boatload of money."

Persons: —, Mike Molloy, CrossFit, Molloy, Tyler Le, " Molloy Organizations: Service, —, Business Locations: Silicon

☆ Stock market today: Indexes trade mixed as record-setting rally wavers ahead of more data, Fedspeak
▼ + stars: | 2024-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The rally in US stocks took a breather on Wednesday as traders looked ahead to coming economic data. Major indexes wobbled and bond yields were slightly higher. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Major stock averages pulled back slightly after notching a series of record-highs since last week's rate cut, while bond yields edged up slightly. "Traders will be curious to hear more thoughts on the rate cut and any guidance on further monetary policy easing."

Persons: —, Powell, Hogan, Riley Wealth Organizations: Service, Federal Reserve, Treasury, Fed, US Treasury Market Conference, Federal

☆ Hezbollah launched its deepest strike on Israel yet — targeting Tel Aviv
▼ + stars: | 2024-09-25 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +1 min

Israel intercepted a missile strike from Hezbollah and struck a launcher in Lebanon. Hezbollah targeted Tel Aviv and said the strike was in support of Palestinians in Gaza. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementHezbollah fired a missile at Tel Aviv on Wednesday morning in what is believed to be its deepest strike yet into Israel.

Persons: Israel, — Organizations: Tel, Service, Street Journal, Business Locations: Lebanon, Tel Aviv, Gaza, Israel

☆ It looks like Sam Altman will get richer off of OpenAI after all
▼ + stars: | 2024-09-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI is working to revamp its business structure so that it's no longer controlled by a nonprofit board, according to a new report. This story is available exclusively to Business Insider subscribers. The company has been controlled until now by the nonprofit board — a relic of its original launch as a nonprofit in 2015. The company is seeking to remove a cap on returns for investors, sources told Reuters. "Feels part of the necessary normalization of OpenAI into a regular corporate structure, which paves the way to an IPO."

Persons: —, Sam Altman, OpenAI, Altman, Altman hasn't, he's, OpenAI didn't, Ilya Sutskever, Jan Leike, Greg Brockman, Mira Murati, Matt Turck, who's, Ada Organizations: Service, —, Business, Reuters, Street, Senate, Busines Locations: OpenAI

☆ These companies could be poised to start paying dividends, Morgan Stanley says
▼ + stars: | 2024-09-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

The Federal Reserve's move to start cutting interest rates bodes well for dividend-paying stocks, and Morgan Stanley thinks several companies are poised to join their ranks. "Equity investors are seeking durable, higher yielding dividends as market volatility is expected to continue throughout the easing cycle," wrote Morgan Stanley strategist Todd Castagno in a report last Friday. Morgan Stanley drew up a list of companies that might have what it takes to start paying dividends, drawn from stocks that boast net cash and generate a free cash flow exceeding 3%. Instacart was also seen as a potential dividend initiator by Morgan Stanley. Other companies that Morgan Stanley highlighted as potential dividend initiators include short-term vacation rental company Airbnb and biotech play United Therapeutics .

Persons: Morgan Stanley, Todd Castagno, Castagno, Morgan, Piper Sandler, James Fish, Instacart, Raymond James, Josh Beck Organizations: Equity, Companies, United Therapeutics

☆ CNBC Daily Open: It might be better economic data isn’t all rosy
▼ + stars: | 2024-09-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. How much will oil demand grow? Oil demand will experience "robust medium-term growth," reaching 112.3 million barrels per day in 2029 from 102.2 million barrels per day in 2023, according to OPEC's 2024 World Oil Outlook report. The International Energy Agency thinks oil demand will level off at 106 million barrels per day by the end of the decade.

Persons: Stocks, Consumer's, September's, Dow, Goldman, Denis Coleman, Jamie Dimon, JPMorgan Chase Organizations: CNBC, Dow Jones, U.S . Federal, JPMorgan, International Energy Agency

☆ Banerji: We're seeing people grow more optimistic... turbocharged after that jumbo rate cut by the Fed
▼ + stars: | 2024-09-25 | 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 EmailBanerji: We're seeing people grow more optimistic... turbocharged after that jumbo rate cut by the FedGunjan Banerji, Lead Writer for Markets Live at The Wall Street Journal, notes that investors are currently calm and not overly concerned about potential risks, despite geopolitical tensions and the upcoming elections.

Organizations: Wall Street

☆ Here's our counter to analyst negativity about iPhone 16 demand — plus, Nvidia jumps again
▼ + stars: | 2024-09-25 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. The Club stock kicked into high gear Tuesday on a Barron's report that CEO Jensen Huang completed a predetermined stock trading plan. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Jensen Huang, Wednesday's, Jeff Marks, it's, Jim Cramer's, Jim Organizations: CNBC, Treasury, Nvidia, Club, Micron, Apple, Wall Street, Apple Intelligence

☆ Micron shares surge after upbeat first-quarter forecast due to AI demand for memory chips
▼ + stars: | 2024-09-25 | by ( ) www.cnbc.com time to read: +2 min

Micron Technology shares surged roughly 14% in after-hours trading after the memory maker forecast higher-than-expected first-quarter revenue due to the thirst for its memory chips used in artificial intelligence computing. HBM is a space-saving, power-efficient type of dynamic random access memory chip, or DRAM, crucial for AI-focused graphics processing units, that aid in processing vast amounts of data. "Demand from data center customers continues to be strong and customer inventory levels are healthy," Micron CEO Sanjay Mehrotra said on a conference call with analysts. The AI boom has also helped Micron cushion the hit from a memory chip inventory glut in PC and smartphone markets. Personal computers infused with AI technologies are expected to have more memory chips, helping firms such as Micron.

Persons: Sanjay Mehrotra, Wall, Kinngai Chan, Sumit Sadana Organizations: Micron Technology, Micron, South Korea's SK Hynix, Samsung, Nvidia Locations: U.S

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