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FedEx shares soared more than 15% after hours Tuesday after the company reported results that topped analysts' estimates in both earnings and revenue. FedEx further expects the demand environment to moderately improve through the next fiscal year, according to Carere. Investor's eyes are also on the company's largest segment Express, which has been struggling with margin growth the past year. Subramaniam said improving performance of the Express segment is a "top priority" for the company. USPS was the largest customer for the company's Express segment.
Persons: Brie Carere, Carere, Raj Subramaniam, Subramaniam, John Dietrich Organizations: FedEx, LSEG, Services, Federal Express Corporation, U.S . Postal Service, United Parcel Service, UPS, USPS Locations: United States
IOWN Global Forum is a global group aiming to develop technical standards for all-photonics networks. "Mobile traffic is growing more and more every day," Katsuhiko Kawazoe, chair of the IOWN Global Forum, told CNBC via email. "Data centers are becoming bigger and bigger, and hyperscale data centers are a struggle for societies' carbon reductions," Kawashima said. "To deploy antennas, we need optical fiber to connect antennas to radio data centers," Kawashima explained. For now, the IOWN Global Forum is working toward achieving its main goals by 2030.
Persons: , Kawazoe, Gonzalo Camarillo, OpenAI's, Kawashima, Banks, NTT's Kawashima Organizations: Getty, Microsoft, Google, Intel, Sony, IOWN, photonics, NTT, Ericsson, Nokia, SK Hynix, CNBC, IOWN Global, NTT Corporation, Mitsubishi, Netflix, Amazon, 5G
The company on Tuesday announced a set of new safety features, including expanded warning pop-ups that appear when a teen receives a message from someone they don’t share mutual friends with or have in their contacts. And Snapchat will now prevent the delivery of friend requests for teens to or from an account that they don’t share mutual friends with that is also located in regions often associated with scammers. Meta in April also announced new features aimed at combating sextortion, including informing users when they’ve interacted with someone who engaged in financial sextortion. Now, when a user blocks another account, any new accounts created on the same device will also automatically be blocked. The updates build on Snapchat’s existing teen safety features, which include a “Family Center” where parents can supervise the behavior of 13- to 17-year-old users, and mechanisms for removing age-inappropriate content.
Persons: New York CNN —, aren’t, ” Snapchat, Jacqueline Beauchere, sextortion, they’ve Organizations: New, New York CNN, CNN, Meta, Prevention Locations: New York
CNN —Tesla has issued two recalls on the Cybertruck, its third and fourth, since the model was introduced late last year. An investigation by Tesla revealed that the piece had not been properly installed. Cybertruck owners will be asked to bring their trucks to a Tesla service center where the trim piece will either be replaced or installed properly with “adhesion promotor” and pressure sensitive tape. The trucks are also being recalled for a separate issue in the electric motor that powers the truck’s single huge windshield wiper. Tesla has previously recalled the Cybertruck for other issues.
Persons: CNN — Tesla, Tesla Organizations: CNN, Traffic
She founded the e-commerce retailer Wildberries in 2004 while on maternity leave from her job as an English teacher. A Wildberries delivery point in St. Petersburg. Bakalchuk told Bloomberg in 2018 that she used to make deliveries herself in the company's early days. Bakalchuk owns 99% of the company, and her husband owns 1%. In 2020, The Bell reported Vladislav Bakalchuk earned $5 million from selling stock in an internet provider, raising questions about Bakalchuk's status as a self-made billionaire.
Persons: Artem Priakhin, Wildberries, Otto, Bakalchuk, Sergei Anufriev, Bell, Vladislav Bakalchuk Organizations: Wildberries, Getty, Bloomberg Locations: St . Petersburg, German, Moscow, Wildberries
Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."
Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST
Amazon says Prime Day will run July 16 and 17
  + stars: | 2024-06-25 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com   time to read: +1 min
Amazon 's Prime Day megasale will return on July 16 and 17, the company announced Tuesday. Amazon launched Prime Day in 2015 as a way to offer discounts exclusively to members of its mainstay subscription program. The event is also a big revenue driver for other retailers, who often hold competing events during or around Prime Day. Walmart on Tuesday announced its own "Walmart Deals" event that runs July 8 through July 11. WATCH: Amazon Prime Video drives down ad prices for competitors
Persons: Amazon Organizations: Amazon, Walmart, Amazon's, Adobe Analytics Locations: New York, U.S
One is to fix problems with trim pieces, which can loosen and fall off the trunk, and the other is to address faulty motor controllers in the front windshield wipers. The report said a "non-functioning windshield wiper may reduce visibility in certain operating conditions, which may increase the risk of a collision." Tesla plans to replace the motor controller in the Cybertruck windshield wipers for customers. An earlier Cybertruck recall was issued to repair an accelerator pedal issue. The recall disclosures for the windshield wiper issue said that from Nov. 13, 2023, to Jun.
Persons: Tesla, , didn't, Elon Musk, Musk, Tesla's, It's Organizations: National, Traffic Safety Administration, Ford, Tesla Locations: U.S, Austin , Texas, China
Check out the companies making headlines in midday trading: SolarEdge Technologies — Shares of the company tumbled more than 20% following the announcement that it will offer $300 million worth of convertible notes due 2029. — The stock plunged more than 7% after the company updated its earnings guidance for the full year on Monday after the bell. The wholesale pool supplies distributor expects full-year earnings between $11.04 and $11.44 per share. Carnival — Shares added nearly 8% after the cruise company posted a second-quarter earnings and revenue beat. Penn Entertainment — The casino operator and online gambling platform's stock fell 5% after Raymond James downgraded it to market perform from outperform.
Persons: Leslie's, LSEG, Raymond James, Enovix, Rivian, , Alex Harring, Lisa Kailai Han, Jesse Pound Organizations: U.S . Securities, Exchange, Pool Corp, Carnival, Penn Entertainment, Airbus, Nvidia —, Novo Nordisk, Guggenheim, Spirit AeroSystems, Boeing, Bloomberg Locations: Singapore, France, China
Routing through ChinaChina Telecom, China Mobile and China Unicom have long been in Washington's crosshairs. The FCC denied China Mobile's application to provide telephone service in 2019 and revoked China Telecom and China Unicom's licenses to do the same in 2021 and 2022 respectively. It cited at least nine instances where China Telecom misrouted internet traffic through China, putting it at risk of being intercepted, manipulated or blocked from reaching its intended destination. China Telecom has previously denied the government's allegations and told U.S. agencies that routing problems are common and occur on all networks. China Telecom did not respond to requests for comment about its U.S. based PoPs.
Persons: Peter Parks, Biden, China Unicom, Doug Madory, Bill Woodcock, Alibaba Organizations: HK, China Mobile, Peter, AFP, Getty, China Telecom, Authorities, Commerce Department, China, Commerce, Embassy, Reuters, Washington, Regulators, China China Telecom, FCC, U.S, Justice Department, PoPs Locations: China Mobile, China, Beijing, United States, Washington, crosshairs, U.S
Freelance marketplace Upwork has long been documenting the most popular skills and specialties on its website. Among those that made the list this year are data analytics, social media marketing and accounting, according to its Most In-Demand Work Skills in 2024 report. Upwork groups its popular skills according to field, such as coding and sales. This year, it also included a list of its most in-demand customer service and admin support tasks, some of which don't necessarily require much experience. That's the sort of admin work general virtual assistants pick up and why they're so in demand.
Persons: Margaret Lilani, Vicki Salemi, they'll Organizations: Microsoft, Research
Two of America’s most decorated Olympic swimmers will ask Congress on Tuesday to hold the global antidoping agency accountable for failing to properly police allegations of cheating by elite Chinese athletes. In testimony prepared for delivery on Tuesday night to a House subcommittee, Michael Phelps, the 23-time Olympic gold medalist, and Allison Schmitt, a four-time Olympic gold medalist, urged Congress to push for reforms of the World Anti-Doping Agency, or WADA. They said the uncertainty about whether Chinese swimmers have been using banned substances is deeply unfair to competitors heading into the Summer Games next month in Paris. The hearing comes two months after The New York Times reported that the Chinese antidoping authorities and WADA had declined to discipline 23 elite Chinese swimmers who tested positive for a banned drug in early 2021, paving their way to compete at the Games held in Tokyo that summer. Chinese authorities said the positive tests were the result of unwitting contamination of the swimmers and involved tiny amounts of the banned substance, a finding that WADA accepted but that many antidoping experts have questioned.
Persons: Michael Phelps, Allison Schmitt, WADA Organizations: Doping Agency, Summer Games, New York Times, Games Locations: Paris, Tokyo
The project, from veteran filmmakers Alexandra Shiva and Lindsey Megrue, also had help from a Hollywood outsider: Northwell Health, New York's largest healthcare network. Ramon Soto, CMO, Northwell Health. "Lenox Hill" and "Emergency: NYC" followed, drawing on the popular hospital procedural format. Northwell's own research showed people who watched "Emergency: NYC" were 17% more likely to consider using Northwell services compared to those who hadn't seen it. Soto said the company has stuck to talking about mental health and other healthcare issues while avoiding being prescriptive in its messaging.
Persons: Max, Alexandra Shiva, Lindsey Megrue, Northwell, Oscar, Matthew Heineman, Ramon Soto, Lee S, Weissman, Northwell isn't, Marvel Northwell, Soto, Heineman, they're, Jen Cowan, Bud, it's Organizations: Service, Psych Unit, HBO, Netflix, Business, Northwell, Marvel, Nielsen, HBO Warner Bros, Hollywood, Disney Locations: Hulu, North Shore, Northwell's
A logo on the new Aston Martin DBX at the new Aston Martin Lagonda factory in Barry, Wales, Britain February 21, 2020. The company will produce only 38 units of the Valiant, a vehicle designed by the Aston Martin team alongside Formula One driver and two-time world champion Fernando Alonso. Alonso is one of Aston Martin Aramco Formula One Team's drivers, alongside Stroll's son, Lance. Aston Martin Racing and Aston Martin Lagonda are distinct entities. New Tab , opens new tab
Persons: Aston Martin DBX, Aston Martin, Rebecca Naden, Fernando Alonso, Lawrence, Valiant, Alonso, Aston, Stroll's, Lance, Aston Martin Lagonda, Yadarisa, Devika Organizations: REUTERS, Aston, Formula, Reuters, Aston Martin Aramco, One, Aston Martin Racing, Thomson Locations: Barry , Wales, Britain, British, Saudi, Bengaluru
New York CNN —Airbus cut its target for how many planes it expects to make this year and next, citing supply chain issues. The tighter-than-expected supply of jets is forcing airlines to adjust their expansion plans, even as they deal with record demand for air travel. That means that passengers could find fewer available seats and fares that are higher than they would be otherwise. But airlines that use Airbus planes have not been without problems, as a number of A320neo jets have been grounded due to problems with their engines. Airfares were down 13% to nearly 19% from those 2022 peaks during the summer travel months last year, as the number of available seats on planes rose by about 15% from a year earlier.
Organizations: New, New York CNN, Airbus, Boeing, Max Alaska Air, Monday Airbus, TSA, Consumer, Bureau of Transportation Statistics Locations: New York, Paris
The president who walked haltingly to the podium as the debate began Thursday night was not State of the Union Joe Biden. Instead, his voice was hoarse, he stumbled over facts, and occasionally he seemed to lose his train of thought and became a little incoherent. And yet, despite his terrible delivery, Biden was at least telling voters the truth. Trump said he never got any credit for getting the country out of the Covid-19 pandemic. Of course he didn’t; his policies and lack of action made the pandemic far worse.
Persons: haltingly, Union Joe Biden, Biden, Donald Trump, Trump Organizations: Union
Read preview​​This as-told-to essay is based on a transcribed conversation with Sue Campbell, 58, about relocating to China for work. I was often the liaison between international clients and the team in China, helping everyone understand each other better. Employees in China were very conscious of their place in the company hierarchyHierarchies were very apparent in Chinese work culture. In China, people seemed to take pride in their work and I think they didn't want to make themselves look bad. If anybody has the chance to work in Asia, I'd recommend it.
Persons: , Sue Campbell, Louis Vuitton, I'd, who'd, KIND2 Organizations: Service, Louis, Business, consultancy's, Employees Locations: China, Hong Kong, Asia, Shanghai, Australia, consultancy's Asia
A DoorDash delivery person is pictured on the day they hold their IPO in the Manhattan borough of New York City, New York, U.S., December 9, 2020. Doordash shares fell 2% to $111.68 after the report, before recovering some of that loss. However this year, those shares were automatically converted into class A shares, Deliveroo's IPO prospectus shows. Online food delivery companies have looked to pivot away from unprofitable markets. New Tab , opens new tabSave Share XFacebookLinkedinEmailLink Purchase Licensing Rights
Persons: Carlo Allegri, Doordash, Deliveroo's, Will Shu, Shu, Deliveroo, Greg Orlowski, Tony Xu, U.S . Doordash, Uber, Amy, Jo Crowley, Abigail Summerville, Anousha Sakoui, Alexander Smith, Nick Zieminski Organizations: REUTERS, Companies, Deliveroo, Chevron, DST Global, Sunday Times, Financial Times, U.S ., Wolt, United Arab, Thomson Locations: Manhattan, New York City , New York, U.S, Chevron San Francisco, London, Taiwan, Deliveroo, France, United Arab Emirates, Hong Kong
Tyrese Haspil was found guilty on all counts in the murder of his former boss, tech CEO Fahim Saleh. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA Manhattan jury on Monday found Tyrese Haspil guilty of all counts in the brutal murder of his former boss, tech CEO Fahim Saleh. Haspil, 25, admitted to fatally stabbing and dismembering Saleh, who was CEO of the ride-hailing and delivery service Gokada, to hide a $400,000 embezzlement.
Persons: Tyrese Haspil, Fahim Saleh, Haspil, dismembering Saleh, Saleh, Organizations: Service, Business Locations: Manhattan
Read previewThe US Army tested its new strike missile against a moving sea target in the Pacific earlier this month. The recent strike marked a "significant milestone" in the development of the new Precision Strike Missile, the Army said. The PrSM, a next-generation long-range precision strike weapon, will eventually replace the older MGM-140 Army Tactical Missile Systems, or ATACMS. The exercise involved the US Army's prototype Autonomous Multi-Domain Launcher and two Precision Strike Missiles, which were "able to engage a moving maritime target in conjunction with other Joint assets." An Army Tactical Missile System during live-fire testing at White Sands Missile Range in New Mexico on December 14, 2021.
Persons: , Lockheed Martin, White, John Hamilton, Technology Doug Bush Organizations: Service, US Army, Army, MGM, Tactical Missile Systems, Business, Valiant, High, Artillery Rocket Systems, Systems, Lockheed, Pentagon, Army Tactical Missile System, White, Artillery, Acquisition, Logistics, Technology, Ship Locations: Palau, Cleveland, Austin, New Mexico, China
Amazon has many little-known nooks and crannies, including an overstock outlet. Amazon Outlet offers limited-time deals in categories, like clothes, electronics, and toys. But my favorite part of Amazon is its outlet, which has saved me hundreds of dollars. Amazon Outlet offers bargains on overstock and clearance items, from power tools to pet supplies. On an average day, prices are often up to 50% off retail, and lightning deals can feature even bigger discounts.
Persons: , I've Organizations: Amazon, Outlet, Service, Business
Prosus full-year core headline earnings jump 84%
  + stars: | 2024-06-24 | by ( ) www.cnbc.com   time to read: 1 min
In this photo illustration a Prosus logo is seen on a smartphone and a pc screen. Dutch technology investor Prosus core headline earnings jumped 84% in the year to March 31, helped by a strong performance in e-commerce operations, it said on Monday. Its core headline earnings were $5.0 billion, compared with $2.7 billion a year earlier, the company said. The company recently appointed the head of its food delivery business iFood as its new CEO effective from July. The group's free cash-flow roughly tripled year-on-year to $524 million, also helped by e-commerce and the performance of its key investment, Chinese tech giant Tencent.
Persons: Ervin Tu
Morgan Stanley initiates Ryder System as overweight Morgan Stanley said the transformation is underway for the transport company. " Morgan Stanley names UnitedHealth a top pick Morgan Stanley said the health-care company is compelling. "With this note, we are adjusting our Top Pick to UNH (from CI), where its relative share price performance presents an opportunity in our view." Morgan Stanley initiates Elevance Health as overweight Morgan Stanley called out Elevance Health's earnings power as it initiated coverage of the stock. " Melius reiterates Apple as buy Melius raised its price target on Apple to $260 per share from $227.
Persons: Jefferies, kingmaker, CARR, Goldman Sachs, Goldman, Morgan Stanley, Ryder, UnitedHealth, Bernstein, Tesla, TD Cowen, TD, it's, Melius, BEV, Eli Lilly, LLY Organizations: Nvidia, Citi, Micron, Carrier, UBS, Anheuser, Busch InBev, IBM, Bank of America, Broadcom, VMWare, CI, Elevance Health, Cherniere Energy, Cheniere Energy Inc, Ally, Barclays, Apple, " Bank of America, Alexa, Reuters, China, JPMorgan, Royal Locations: LLY, Royal Caribbean
She told Business Insider she worked 16 hours a day some days and often worked weekends. Rodriguez told BI they'd been working hard on a new project just before being let go. AdvertisementWith her new business, Rodriguez thought she needed to stay in New York to meet clients in person. She took a solo trip to GreeceRodriguez decided to attend a friend's birthday party in Greece in June 2021. She'd never visited the country before and decided to take a 10-day solo vacation to Greece around the party.
Persons: , Marissa Rodriguez, Rodriguez, she'd, Chris Burch, Wonder, Sofia Vergara, Renata Black's, Greece Rodriguez, She'd, New York —, couldn't Organizations: Service, New York University, Business, C.Wonder Locations: Puerto Rico, Manhattan, New York, Greece, America, Athens, there's, New York City
This complex will be world’s first large-scale “green steel” project, according to H2 Green Steel, the Swedish company behind the multi-billion-dollar mill. Dhiraj Singh/Bloomberg/Getty ImagesWhile projects like H2 Green Steel show momentum is growing, experts say the pace is far too slow. Northern Sweden is also home to the HYBRIT green steel pilot plant — which is one step ahead. US Secretary of State Antony Blinken speaks during a visit to Hybrit Steel Plant in Lulea, Sweden, on May 30, 2023. But there’s also the challenge of producing large amounts of green hydrogen, which will require huge amounts of renewable energy.
Persons: Peter Boer, Dhiraj Singh, , Mohamed Atouife, Daniel Acker, ” Atouife, HYBRIT, Biden, Antony Blinken, Jonas Ekstromer, Martin Pei, SSAB, ” Pei, Chathurika, Caitlin Swalec, Jonathan Nackstrand, Pei, there’s, , Philipp Verpoort, “ It’s, Princeton’s, Swalec, Chris Greig, ” Greig, RMI’s Gamage Organizations: CNN, Green Steel, Tata Steel, Bloomberg, Getty, Rourkela Steel, Princeton University, Volvo, Hybrit Steel, TT, Agency, AFP, , Mountain Institute, Global Energy Monitor, Potsdam Institute, Climate Impact, Potsdam, Princeton University’s Andlinger Center for Energy, Workers, Jiangsu Shagang, Co, European Union Locations: Sweden, Boden, Swedish, Wijk aan, Netherlands, Odisha, India, Indiana, Portage , Indiana, Northern Sweden, Cleveland, Ohio, Middletown, Mississippi, Lulea, Luleå, AFP, China, Europe, Japan, Jiangsu, Huai'an, Jiangsu Province, European
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