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☆ Analysts overwhelmingly say buy Microsoft on postearnings dip, AI story intact
▼ + stars: | 2024-07-31 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Analysts on Wall Street think Microsoft's postearnings pullback is a buying opportunity. Shares of the technology company dipped 1% after Microsoft's disappointing cloud revenue obscured stronger-than-expected overall results for the fiscal fourth quarter. Microsoft's Intelligent Cloud segment raked in $28.52 billion in revenue last quarter, while analysts polled by LSEG expected $28.68 billion. Take a look at what some analysts around the Street said after Microsoft released its results. Goldman Sachs Analyst Kash Rangan maintained a buy rating on Microsoft and reiterated his $515 per share price target.

Persons: LSEG, Goldman Sachs, Kash Rangan, Mark Murphy, Murphy, Michael Turrin, Turrin Organizations: Microsoft, JPMorgan, JPMorgan Chase Locations: FQ4, 1H

☆ AMD CEO Lisa Su on Q2 earnings beat: Very excited about the traction that we're seeing
▼ + stars: | 2024-07-31 | 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 EmailAMD CEO Lisa Su on Q2 earnings beat: Very excited about the traction that we're seeingAMD CEO Lisa Su joins 'Squawk on the Street' to discuss the company's quarterly earnings results, data center roadmap, PC demand, raising guidance on AI adoption, state of AI competition, and more.

Persons: Lisa Su

☆ 3 non-tech sectors ripe for AI monetization, according to $85 billion Wealth Enhancement Group
▼ + stars: | 2024-07-30 | by ( Christine Ji | ) www.businessinsider.com time to read: +5 min

So far, most of the AI winners have been confined to players further up the value chain, such as data center providers and semiconductor chip producers at the backbone of AI technology. As the buildout phase of AI matures, investors are looking further down the value chain for monetization opportunities, whether it be for consumers or businesses. Ayako Yoshioka, senior portfolio manager at Wealth Enhancement Group, sees three parts of the market that could see profit enhancements from the adoption of AI. 3 non-tech AI opportunitiesThere's significant potential for the healthcare sector to reap the benefits of AI. Large banks like JP Morgan and Goldman Sachs also use AI to comb through and sort large quantities of historical financial data, facilitate financial research, and provide investment advice.

Persons: —, Ayako Yoshioka, Yoshioka, JP Morgan, Goldman Sachs, They're, That's Organizations: Service, Big Tech, Business, Google, Security, Visa, Mastercard, Healthcare, Trust Nasdaq

☆ Self-driving tech company WeRide accelerates global expansion as transportation industry adopts AI
▼ + stars: | 2024-07-30 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +4 min

(Photo by Jia Tianyong/China News Service/VCG via Getty Images) China News Service | China News Service | Getty ImagesSelf-driving technology firm WeRide is accelerating its global expansion as the artificial intelligence boom boosts adoption of machine learning in transportation. Things are moving relatively fast because of the development of AI right now," said Sebastian Yee, Singapore director of business development at WeRide. In June, the firm began safety testing for "Robosweepers" in Singapore, following similar rollouts in multiple cities in China. watch now"WeRide is the only company which has [driverless] permits from the U.S., China, UAE and Singapore. Some [companies] just have permits from one or two countries, but we have four countries," said Kerry Xu, Singapore general manager of WeRide.

Persons: WeRide, Jia Tianyong, Sebastian Yee, Kerry Xu, Xu, Yee Organizations: SAE, China News Service, Getty Images, Getty, Logistics, Renault, Nissan, Mitsubishi, GAC Group, Nasdaq, U.S, SEC, Changi Airport Locations: BEIJING, CHINA, Beijing, China, Singapore, WeRide, Silicon Valley, Guangzhou, U.S, UAE, Japan, Europe, Cayman Islands, Southeast Asia

☆ We're upgrading Microsoft after earnings. The stock has pulled back enough lately
▼ + stars: | 2024-07-30 | by ( Zev Fima | ) www.cnbc.com time to read: +11 min

Microsoft delivered an overall strong quarter after Tuesday's market close, but a miss on Azure revenue growth put shares under pressure in extended-hours trading. Office Consumer Products and Cloud Services revenue grew 3% as Microsoft 365 Consumer subscriptions grew 10% to 82.5 million. Windows Commercial Products and Cloud Services revenue increased 11%, driven by demand for Microsoft 365. Despite the solid fiscal Q1 outlook for Intelligent Cloud revenue, management guided Azure's constant currency revenue growth to 28% to 29%. Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.

Persons: We're, Satya Nadella, Nadella, Amy Hood, Hood, That's, Jim Cramer's, Jim Cramer, Jim, Jason Redmond Organizations: Microsoft, Revenue, Nvidia, Broadcom, Devices, AMD, Investors, Products, Cloud Services, Consumer Products, Dynamics Products, Enterprise Mobility, Activision, Windows, —, Xbox, Management, CNBC, AFP, Getty Locations: OpenAI, pare, Redmond , Washington

☆ Verizon sees early success using generative AI to answer questions from business customers
▼ + stars: | 2024-07-30 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +6 min

Verizon uses generative AI to reduce the workload from its high volume of business-related calls. Debika Bhattacharya, the chief technology-solutions officer at Verizon Business, said Verizon received 170 million calls from business and individual customers every year. Last year, the company added generative AI as another layer to help reduce the demands on customer-service agents and answer clients' questions faster. AI in actionIncorporating generative AI into its business-to-business customer-service strategy helps agents answer questions and resolve issues faster, Bhattacharya said. Bhattacharya said it's too early to share data about how generative AI was improving Verizon's business customer service.

Persons: —, Debika Bhattacharya, Bhattacharya, it's Organizations: Verizon, Service, Verizon Communications, Fortune, Verizon Business, hyperpersonalization, Telecom Locations: New York City

☆ 'Potential boost from TikTok uncertainty': Here's what Wall Street expects from Meta's 2nd-quarter earnings
▼ + stars: | 2024-07-30 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Read previewAll eyes are on Meta Platforms with the company set to report its second-quarter earnings results after the market close on Wednesday. AdvertisementHere's what Wall Street expects from Meta's second-quarter earnings report. Looking forward, Post highlighted that a potential TikTok ban in early 2025 could provide a big boost to Meta's advertising business. Advertisement"With political spend, and potential TikTok ban in 1Q'25, Meta could also see an ad spend benefit in 2H'24," Post said. The company also has the potential to offer guidance on the monetization potential of its licensing of Llama, its open-source large language model.

Persons: —, Meta, Justin Post, Ronald Josey, Josey, Wells, Wells Fargo, Ken Gawrelski, Gawrelski, Mizuho, James Lee, Lee, Mandeep Singh, Singh Organizations: Service, Meta, Nvidia, it's, Business, Bank of America, Citi, Cannes, Mizuho, Bloomberg Intelligence Locations: monetizing, Wells Fargo

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Roblox, Netflix, Amazon, Tesla, McDonald's, Affirm & more
▼ + stars: | 2024-07-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Loop initiates BrightView as buy Loop said it's bullish on shares of the commercial landscaping company. Evercore ISI reiterates Apple as outperform Evercore said it's bullish ahead of Apple earnings later this week. " Bank of America reiterates Roblox as buy Bank of America said it's standing by Roblox ahead of earnings on August 1. Deutsche Bank reiterates McDonald's as buy Deutsche said it's standing by the fast food giant following earnings. Bank of America reiterates Goldman Sachs as buy Bank of America said top pick Goldman Sachs has "cyclical/secular tailwinds."

Persons: Evercore, it's, Jensen Huang, Nvidia's Blackwell, Blackwell, KBW, Oppenheimer, Wells, Roblox, Tesla, McDonald's, Baird, Edward Jones, Goldman Sachs, ROE resiliency, Morgan Stanley, Wells Fargo Organizations: Apple, Citi, Nvidia, " Bank of America, of America, Barclays, UBS, Amazon, Netflix, Bank of America, JPMorgan, RBC, Tesla, Deutsche Bank, Deutsche, Whirlpool, underperform Bank of America, Abbott Laboratories, Abbott Labs, Edward, Stock, 2Q, PNC, WF

☆ Will Free Beer Make Travelers More Responsible?
▼ + stars: | 2024-07-30 | by ( Elaine Glusac | ) www.nytimes.com time to read: +1 min

Earlier this month, when the tourism office of Copenhagen announced it would reward travelers with freebies for taking conscientious actions like using public transportation, proponents of sustainable travel cheered the adoption of a strategy that would encourage responsible behavior. “Tourists want to feel good about doing something sustainable without feeling ashamed,” said Paloma Zapata, the chief executive of Sustainable Travel International, which works with destinations and travel operators to address climate and community impacts. “These programs make sustainable tourism very tangible.”In the carrot-versus-stick debate, punitive policies like charging day visitors a fee in Venice have dominated the conversation. But an emerging set of policies is designed to guide and reward travelers’ good behavior. A new Booking.com survey of 31,000 travelers globally found that while 75 percent of travelers want to travel more sustainably in the next year, 45 percent admitted it was not a primary consideration when planning a trip.

Persons: ”, Paloma Zapata Organizations: freebies, Sustainable Travel International Locations: Copenhagen, Venice

☆ Goldman Sachs CIO Marco Argenti says Wall Street's 'next big wave' in AI will come down to culture, not just technology
▼ + stars: | 2024-07-29 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

In as soon as three years, there probably won't be an employee at Goldman Sachs who isn't touched by AI, predicted Goldman Sachs' chief information officer, Marco Argenti. The hypothesis (which Argenti conceded is "completely not scientific") goes to show the incredible momentum of generative AI on Wall Street. Goldman, like its peers up and down the Street, put generative AI tools in the hands of their software engineers to help them write and document code faster. Now, Argenti is looking ahead to "the next big wave" in Goldman's AI journey: front-office workers. What do you think will be different about how Goldman adopts generative AI versus your competition?

Persons: Goldman Sachs, Marco Argenti, Argenti, Goldman, copilot, We're, We've Organizations: Service, Business, Wall

☆ Artificial Intelligence Gives Weather Forecasters a New Edge
▼ + stars: | 2024-07-29 | by ( William J. Broad | ) www.nytimes.com time to read: +13 min

Artificial Intelligence Gives Weather Forecasters a New Edge The brainy machines are predicting global weather patterns with new speed and precision, doing in minutes and seconds what once took hours. GraphCast GraphCast Miss. specialist at the European Center for Medium-Range Weather Forecasts, the agency that got upstaged on its Beryl forecast. Even so, reliable weather forecasts turn out to be extraordinarily hard to achieve. As a result, weather forecasts can fail after a few days, and sometimes after a few hours.

Persons: Hurricane Beryl, GraphCast, Beryl MEXICO, Hurricane Beryl Miss ., William B, Davis, ”, Matthew Chantry, Christopher S, Amy McGovern, Dr, McGovern, “, Brandon Bell, Maria Molina, Bretherton, Sir Richard Friend, Rémi Lam, GraphCast’s, Lam, . Lam, Beryl, Hurricane Lee, DeepMind’s GraphCast, . Chantry, Chantry, Paul G, Allen, ‘, we’ve, Molina, Jamie Rhome, Rhome, Mr, There’s Organizations: A.I, Beryl MEXICO CUBA European, JAMAICA European, Beryl MEXICO CUBA JAMAICA Hurricane, National Hurricane Center, Hurricane, NOAA, European Press Agency, Google, European Center, University of Washington, University of Oklahoma, University of Maryland, Royal Academy of Engineering, Cambridge University, Getty, Nvidia, Huawei, Fudan University, Allen Institute for A.I, Microsoft Locations: Va . Ky, N.C, Okla, ., Ala . Texas, Texas, Fla, Va, Kan, Mo, Ky, Beryl MEXICO CUBA, VENEZUELA COLOMBIA, Tenn, Okla ., Beryl MEXICO CUBA JAMAICA, Caribbean, Mexico, Houston, London, DeepMind, Land , Texas, A.I, Freeport , Texas, England, Canada, Nova Scotia, China, Corpus Christi , Texas, Miami

☆ SoftBank-backed Ola Electric aims to raise $734 million in India's biggest IPO this year
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +3 min

The new Ola electric scooters displayed during its launch at the Ola headquarters in Bangalore on August 15, 2021. With e-scooter prices starting at around $900, Ola Electric has become the biggest player in a country where adoption of clean vehicles is still low, but rising rapidly. In the IPO, Ola will issue new shares to raise $657 million while existing investors offload their stake of about $77 million to IPO investors, the term sheet showed. Aggarwal and investors such as SoftBank and Matrix Partners will sell part of their stakes in the IPO. Monday's newspaper ad showed 10% of the IPO will be reserved for retail investors, with proceeds going to fund capital expenditure and research and development efforts.

Persons: Manjunath Kiran, MANJUNATH KIRAN, Ola Electric, Narendra Modi's, Tesla, Ola, Bhavish Aggarwal Organizations: Ola, Getty, Tata Motors, TVS, Hyundai, West, Temasek, Fidelity, Nomura, Norges Bank, Reuters, Financial Express, Matrix Partners Locations: Bangalore, India

☆ Deloitte Global CEO: The labor market is still reasonably healthy
▼ + stars: | 2024-07-29 | 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 EmailDeloitte Global CEO: The labor market is still reasonably healthyDeloitte Global CEO Joe Ucuzoglu joins 'Squawk Box' to discuss the state of the labor market, Paris Olympics partnership, AI adoption, and more.

Persons: Joe Ucuzoglu Organizations: Deloitte, Deloitte Global, Paris Olympics

☆ Ford, GM, Stellantis face a daunting second half of 2024
▼ + stars: | 2024-07-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

Stock Chart Icon Stock chart icon Ford, GM and Stellantis shares"Investors who think autos can outperform on + earnings beats and buybacks should think again. GMFor GM, investors balked at pullbacks in growth businesses, waning upside during the second half of the year, and fear that the automaker's earnings power has peaked, according to Wall Street analysts. Selling more EVs is one reason that GM, which has raised its annual financial guidance twice this year, expects the second half to underperform the first. The new Ford F-150 truck goes through the assembly line at the Ford Dearborn Plant on April 11, 2024 in Dearborn, Michigan. StellantisTransatlantic automaker Stellantis arguably faces the most challenging second half of the year, particularly regarding its U.S. operations.

Persons: Ram, Joe Raedle, Morgan Stanley, Adam Jonas, Jonas, Stellantis, GM's, Mary Barra, Ford, Ford doesn't, Joseph Spak, Bill Pugliano, John Lawler, Lawler, Carlos Tavares, Remo Casilli Organizations: Dodge Chrysler, Getty, DETROIT, Ford, Detroit automakers, GM, Wall Street, Analysts, Street, UBS, Ford Dearborn Plant, Ford Pro, Transatlantic, Stellantis Locations: Miami , Florida, U.S, China, Dearborn , Michigan, Atessa, Italy

☆ Trump and Harris enter final 100-day stretch of a rapidly evolving 2024 race
▼ + stars: | 2024-07-28 | by ( Eric Bradner | ) edition.cnn.com time to read: +19 min

Then, a week ago, Biden announced his exit from the race – and pointed to Harris, his vice president, as his successor. Vice President Kamala Harris speaks at a campaign event in West Allis, Wisconsin, on July 23, 2024. Will Lanzoni/CNNVeepstakes, convention questionsAmong the next orders of business for Harris’ campaign is to accomplish two tasks in a period of days or weeks that Trump’s campaign achieved over months. Many of those potential picks have been offering Harris’ campaign informal glimpses of how they’d perform as her running mate through appearances on cable news shows. Then, Harris’ campaign and its allies must rapidly revise plans for the Democratic National Convention, which is set to start on August 19 in Chicago.

Persons: Donald Trump, Kamala Harris, Joe Biden’s, Trump, Trump’s, Ohio Sen, JD Vance, Biden, Harris, Michelle Obama, ”, Kevin Mohatt, Reuters Trump, Margaret Thatcher, “ Margaret Thatcher didn’t, Benjamin Netanyahu’s, Netanyahu, didn’t, ” Harris, Doug Emhoff, I’m, …, “, you’re, Vance, fraudsters, cheaters, Donald Trump’s, Will Lanzoni, Eric Holder, Tony West, Harris ’, Holder, Roy Cooper, Josh Shapiro, Arizona Sen, Mark Kelly, Pete Buttigieg, Andy Beshear, Tim Walz, Harris –, Biden’s, Joe Biden, wouldn’t, ” Trump, Steven Cheung, –, Tucker Carlson’s, Carlson, they’ve, Buttigieg, Alexandria Ocasio, Cortez, CNN’s Kaitlan Collins, Jennifer Aniston, Megyn Kelly, SiriusXM, ” Vance, it’s, ’ ” Vance, Charli XCX, ‘, ’, Jared Polis, Maxwell Frost, ” Harris ’, CNN’s KFile, George Floyd, “ We’re, Lyin ’ Kamala Harris, Dave McCormick, Democratic Sen, Bob Casey, Casey, McCormick, Kamala Harris ’, CNN’s Jeff Zeleny, Kit Maher, Terence Burlij, Sam Fossum, Alayna Treene, Alison Main, Kim Berryman, Andrew Kaczynski, Em Steck Organizations: CNN, Democratic Party, Republican Party, Democratic National Convention, Democratic, Trump, Reuters, Jewish, San, Republican National Convention, North Carolina Gov, Arizona, Transportation, Senate, Kentucky Gov, Minnesota Gov, Electoral, Sun, Biden, Atlanta, ABC, Democrat Party, Tucker Carlson’s Fox, New York Rep, Twitter, Colorado Gov, ”, Central America, Republican National Committee, Republicans, Immigration, Customs Locations: Pennsylvania, Ohio, Milwaukee, Wisconsin, West Allis , Wisconsin, Florida, St, Cloud , Minnesota, Minnesota, Washington, Israel, Massachusetts, San Francisco, California, Chicago, Michigan , Pennsylvania, Arizona , Georgia, Nevada, North Carolina, United States, Alexandria, British, ” Florida, New York, Minneapolis, Central

"For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said at this year's Bitcoin Conference in Nashville. Kennedy went further than Trump, promising to establish a 4 million bitcoin strategic reserve to match the country's current stake in gold, some of which is held near the military base at Fort Knox. But Trump's reservation speaks to the complications of promising a bitcoin strategic reserve on par with the gold standard. An executive order would not be enough to bring a U.S. bitcoin reserve into existence. That existing bitcoin stockpile could act as the foundation for the bitcoin strategic reserve, which the U.S. government would build on by regularly buying a certain number of bitcoin.

Persons: Donald Trump, Marco Bello, Trump, Trump's, didn't, Tyler, Cameron Winklevoss, Kid Rock, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Robert F, Kennedy Jr, Kennedy, bitcoin, Sen, Lummis, Per Sen, Joe Biden, Kamala Harris, Fred Thiel Organizations: Reuters NASHVILLE —, Republican, U.S . Marshals Service, Trump, U.S . Treasury, Bitcoin Conference, Saturday, Wyoming, U.S, Treasury Department, House, Independents, Democratic, U.S . Securities, Exchange Commission, U.S . Locations: Charlotte , North Carolina, U.S, Nashville, United States of America, Germany, Fort Knox, Washington, United States, bitcoin

☆ These drugmakers are catching up to Eli Lilly and Novo Nordisk in weight loss treatments
▼ + stars: | 2024-07-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

With billions at stake, that's pretty much been a guarantee facing the current market leaders, Eli Lilly and Novo Nordisk , from the start. Their updates are likely to be joined by others in the coming months even as today's incumbents develop their own next-generation weight loss treatments. Other analysts have also grown more optimistic about the future of weight loss treatments. Orforglipron, a once-a-day oral GLP-1 drug that Lilly is working on, had shown a 3% weight loss at 4 weeks. The company is also exploring whether the weight loss treatment could be given only once a month.

Persons: Eli Lilly, drugmakers Roche, Lilly, Denmark's, Trung Huynh, Huynh, Rajesh Kumar, Kumar, Novo, Roche, Roche ADRs, Justin Zelin, Zelin, Viking's, HSBC's Kumar, Novo aren't, —, Nick Wells Organizations: Novo Nordisk, Viking Therapeutics, UBS, HSBC Global Research, Carmot Therapeutics, Food and Drug Administration, Viking, European Association for, Diabetes, Pfizer, Amgen, Therapeutics Locations: Swiss, Novo, San Antonio, Spain

☆ Buy top tech stocks like Apple ahead of their results before it's too late, Bank of America says
▼ + stars: | 2024-07-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

The investment bank says stocks like Apple are table-pounding buys ahead of quarterly results this week. CNBC Pro combed through Bank of America research to find buy-rated tech stocks with more room to run. Apple Bank of America recently raised its price target on the iPhone maker to $256 from $230. Shopify Time to buy shares of the Canadian provider of websites for businesses, according to Bank of America. Analyst Brad Sills recently upgraded Shopify to buy from neutral as a "more balanced growth & margin profile" take hold.

Persons: Wamsi Mohan, Apple, Mohan, GenAI, Brad Sills, Sills, Shopify, Sachin Salgaonkar, Mark Murphy, Satya Kumar, Samir Organizations: Bank of America, CNBC, Microsoft, Apple, Micron Technology, Sea, Apple Bank of America, Apple Vision, Micron Locations: Bank, Shopify, U.S, Singapore, Southeast Asia, Asia, Brazil, Boston, New York

☆ Kamala Harris has a golden opportunity to pull Silicon Valley away from Trump and Vance
▼ + stars: | 2024-07-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

The US President endorsed his current vice president, and many prominent Democrats, including Barack Obama, have followed his lead. Money has been pouring into Harris's campaign, and the vice president has already begun campaigning against former president Donald Trump. With Vance by his side, Trump has been trying to woo Silicon Valley away from Biden. Notably, the vice president hasn't taken a strong stance on cryptocurrency, but some expect her to become more pro-crypto than Biden. Meanwhile, with support from pro-crypto running mate JD Vance, Trump has announced he plans to be the first "crypto president."

Persons: —, Kamala Harris, Harris, Joe Biden's, Barack Obama, Donald Trump, Sheryl Sandberg, Trump, JD Vance, David Sacks, Peter Thiel, Vance, Thiel, Elon Musk, Aaron Levie, techies, Sean Parker, Tony West, Kamala, she's, Ron Conway, Chiente Hsu, Biden, She's, Hsu, Reed Hastings, Levie, hasn't, Nigel Green Organizations: Service, Democratic, Business, PAC, Politico, VC, Biden, Facebook, Big Tech, Biden Administration, Democratic Party, deVere Group Locations: Silicon, California, Oakland, Bay, Harris, FTX

☆ Creator platform LTK is taking aim at TikTok and Amazon with a new video feature
▼ + stars: | 2024-07-26 | by ( Amanda Perelli | ) www.businessinsider.com time to read: +4 min

Read previewCreator-commerce company LTK launched this week a shoppable full-screen short-video feature to compete with platforms like YouTube, TikTok, and Amazon in social shopping. The video feature lives on the LTK app and can be found on a creator's LTK account. AdvertisementAlongside the full-screen video feature, LTK is also releasing a feature called Daily Drops in the coming weeks. And, creator videos on LTK have averaged 64% more click-outs to retailers. Many fashion, beauty, and lifestyle creators have shoppable profiles with LTK, and users are accustomed to scrolling through the app to shop.

Persons: —, LTK, It's, it's, Allison Yazdian, Yazdian, hasn't Organizations: Service, Business, YouTube, Shoppers, Amazon Locations: Dallas

☆ Many early-adopting EV owners around the world want to gas up again
▼ + stars: | 2024-07-25 | by ( Kaya Ginsky | ) www.cnbc.com time to read: +6 min

Many U.S. EV owners, in particular, are having second thoughts. EV adoption has slowed in the U.S., even as the recent earnings and delivery reports from both GM and Ford showed sizable increases in EV sales. Ford said EV sales were up 60%, to nearly 24,000 units, but CEO Jim Farley described a "more realistic and sharpened" EV plan during its earnings call. Drury said that some distinctions are becoming clear between all EV owners and those who are most satisfied. As battery range and density increase, and EV charging infrastructure improves, and prices continue down, Brauer said the picture should brighten for EV sales.

Persons: Scott Olson, Ford, Jim Farley, Tesla, Mary Barra, Edmunds, EVs, Ivan Drury, it's, I'm, Drury, Karl Brauer, they're, Brauer, Barra Organizations: Getty, McKinsey, U.S, EV, GM, Ford, Gallup, CNBC, ICE Locations: Chicago , Illinois, ICEs, Australia, Brazil, China, Germany, Norway, France, Italy, South Korea, U.S, , California

☆ Ford thinks bigger is not always better
▼ + stars: | 2024-07-25 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

CEO Jim Farley told investors in an earnings call on Wednesday that when it comes to EVs, bigger is not always better — and said that the company's future would depend on its ability to build smaller, cheaper electric vehicles. Advertisement"In ICE [Internal Combustion Engine], a business we've been in for 120 years, the bigger the vehicle, the higher the margin," Farley said. The company continues to lose money on its electric vehicle business amid an industry-wide slowdown in demand for EVs. Ford has quietly created a secretive "skunkworks" team, reportedly based in California, to build this new platform. "We have to start to get back in love with smaller vehicles.

Persons: —, Tesla, Jim Farley, Farley, Ford Organizations: Service, EV, Business, Detroit, Tesla, Ford, Aspen Ideas Locations: California

☆ These companies offer attractive — and secure — dividends, Bank of America found
▼ + stars: | 2024-07-25 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

"We advise investors to seek out companies with above-market and secure (not stretched) dividend yields," Bank of America's team said. "It has guarded against owning distressed companies that migrate into Quintile 1 (the highest dividend yield group) if prices fall ahead of potential dividend cuts," the team wrote. The stock is only up nearly 2% in 2024, but it has a dividend yield of 3.1%. SO YTD mountain Southern Company in 2024 Specialty glass maker and artificial intelligence play Corning was also in Bank of America's screen. It has a dividend yield of 2.6%.

Persons: Savita Subramanian, Russell, Kalei Akamine, Coterra, Akamine, Shahriar Pourreza, Corning Organizations: Bank of America, Schwab U.S, Federal Reserve, Bank of America's, Energy, Utilities, Southern Co, Bank of, Southern Company Locations: Wyndham Row, U.S, Southern, Bank

☆ Kamala Harris debuts official TikTok account as presidential campaign picks up
▼ + stars: | 2024-07-25 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

U.S. Vice President Kamala Harris delivers the keynote speech at the American Federation of Teachers' 88th national convention in Houston, Texas, U.S. July 25, 2024. Vice President Kamala Harris debuted an official TikTok account on Thursday, underscoring the social broadcasting app's importance to the 2024 presidential campaign as a way to reach voters. The vice president was referring to the widespread attention her recently announced presidential campaign garnered on social media platforms like TikTok. Meanwhile, former President Donald Trump debuted an official TikTok account in June. Watch: "There is no rebranding Kamala Harris," former Trump aide.

Persons: Kamala Harris, Harris, I've, I'd, Charli, Joe Biden's, Joe Biden, Donald Trump, Trump Organizations: American Federation of Teachers, Democratic, CNBC, Facebook Locations: Houston , Texas, U.S, America

☆ Nvidia supplier SK Hynix posts highest quarterly profit in 6 years on AI chip leadership
▼ + stars: | 2024-07-25 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

A man walks past a logo of SK Hynix at the lobby of the company's Bundang office in Seongnam on January 29, 2021. SK Hynix, one of the world's largest memory chipmakers, on Thursday said second-quarter profit hit its highest level in 6 years as it maintains its leadership in advanced memory chips critical for artificial intelligence computing. Here are SK Hynix's second-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:Revenue: 16.42 trillion Korean won (about $11.86 billion), vs. 16.4 trillion Korean won16.42 trillion Korean won (about $11.86 billion), vs. 16.4 trillion Korean won Operating profit: 5.47 trillion Korean won, vs. 5.4 trillion Korean wonOperating profit in the June quarter hit its highest level since the second quarter of 2018, rebounding from a loss of 2.88 trillion won in the same period a year ago. The South Korean giant supplies high-bandwidth memory chips catering to AI chipsets for companies like Nvidia. High-bandwidth memory chip supplies have been stretched thanks to explosive AI adoption fueled by large language models such as ChatGPT.

Persons: LSEG, SK Kim, Kim Organizations: SK Hynix, SK Hynix's, Nvidia, SK, Daiwa, Micron, Samsung Locations: Seongnam

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