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AMD sold off on its first-quarter earnings report due in large part to its MI300 sales guidance falling short of sky-high expectations. Nvidia remains the dominant player in AI chips, but AMD is continuing to carve out a lane in the rapidly expanding market. Among the highlights, Su said Microsoft has expanded its use of the AI chips for certain software applications, including messaging app Teams. AMD's data center business is now nearly 50% of companywide revenues, up from 37% in the fourth quarter of 2023. Within data center, sales of both AI chips and traditional server chips will grow in the third quarter, Su said.
Persons: Lisa Su, Su, Jim Cramer, it's, , FactSet, Jim Cramer's, Jim, Cheng Organizations: Revenue, AMD, Intel, Nvidia, Broadcom, Club, Microsoft, CNBC, Micro Devices, Afp, Getty Locations: Taipei
Large portions of England and Wales braced for considerable heat on Tuesday, with government officials issuing an alert for vulnerable people and meteorologists warning it would be hottest day of the year so far. The heat in Britain may also stir up sweaty memories of a string of brutally hot days across the country in July 2022, when schools, doctors’ offices and museums shut their doors while the government urged people to work from home. In Britain, few people have air conditioning at home, and much of the country’s housing stock was built to retain heat. Transport delays in very hot or very cold weather are not uncommon. “Much of the U.K. is entering a warm or even hot interlude of weather, with some places in England and Wales likely to meet heat-wave criteria in the coming days,” Frank Saunders, the chief meteorologist at the Met Office, Britain’s national weather service, said in a news release on Tuesday.
Persons: ” Frank Saunders Organizations: Met Office Locations: England, Wales, London, Britain
Impending rate cuts could help shares of Affirm claw back some of their year-to-date losses, according to Bank of America. In a Tuesday note, the bank upgraded shares of Affirm to a buy rating from neutral, pointing to increased profitability prospects. Affirm offers a buy now, pay later service for its customers. Analyst Jason Kupferberg's $36 price objective implies a potential 34% upside for the stock. AFRM YTD mountain AFRM YTD chart In the medium term, Kupferberg believes that Affirm has an "achievable" plan to boost profits, which will in turn increase its share price.
Persons: Jason Kupferberg's, Kupferberg, AFRM, Jerome Powell, Michael Bloom Organizations: Bank of America Locations: U.S
AI models, such as OpenAI's ChatGPT or Anthropic's Claude, are built by running complex algorithms on large amounts of data. Khodjamirian, who also manages the Monopolies and Oligopolies ETF , named four stocks that he sees as potential winners: Moody's , S & P Global , MSCI , and Intuit . Moody's Using Moody's as a prime example, the fund manager highlighted the company's extensive database on credit decisions. MCO 5Y line S & P Global and MSCI Similarly, Khodjamirian sees potential in S & P Global and MSCI due to their vast troves of financial and index data. His thesis rests on the idea that as AI use becomes more widespread, the value of software — the AI models — may diminish.
Persons: Yuri Khodjamirian, Claude, Khodjamirian, CNBC's, Moody's, they're, Warren Buffett's Berkshire Hathaway, MCO, Meta, Warren Buffett's Organizations: Tema ETF's, P, Intuit, Facebook, Microsoft Locations: Tema, Moody's
Stanley Black & Decker on Tuesday morning delivered solid quarterly results — enhanced by strong cash flow performance, allowing management to raise its full-year guidance. Stanley Black & Decker Why we own it: Stanley Black & Decker is in the later innings of a multi-year restructuring plan. Stanley Black & Decker, which also makes fastening and assembly systems, jumped 7.5% on Tuesday's release following last week's 9.7% gain. Full-year organic sales in Tools & Outdoor are projected to be down about 1% at the midpoint, with year-over-year margin improvement. To honor the occasion, Donald Allan, Jr., President & CEO of Stanley Black & Decker, joined by Chris Taylor, NYSE Global Head of Advisory, rings the Opening Bell®.
Persons: Stanley Black, Decker, we're, Don Allen, DeWalt, Pat Hallinan, , Jim Cramer's, Jim Cramer, Jim, Donald Allan , Jr, Chris Taylor Organizations: Revenue, Bosch, Techtronic Industries, Federal Reserve, Management, Stanley, Aerospace, CNBC, The New York Stock Exchange, NYSE Global Locations: Europe, France, Italy, Latin America
Here are Monday's biggest calls on Wall Street: Morgan Stanley reiterates Live Nation as overweight Morgan Stanley said shares of the entertainment concert company are compelling. " Cantor Fitzgerald reiterates Nvidia as overweight Cantor said the stock is still a top pick at the firm. Guggenheim upgrades Akamai to buy from neutral Guggenheim said shares of the cloud computing networking company have more room to run. Bank of America reiterates Apple as buy Bank of America said it's bullish heading into Apple earnings later this week. JPMorgan reiterates Eli Lilly as overweight JPM said the stock is a "core holding" ahead of earnings on August 8.
Persons: Morgan Stanley, Cantor Fitzgerald, Cantor, TD Cowen, AAPL, Wells, Booz Allen Hamilton, it's, Guggenheim, Piper Sandler, Charles Schwab, Piper, Schwab, Olin, Mizuho, Bill Brown's, Myers Squibb, JPMorgan, Eli Lilly, JPM, Evercore, Tesla, Oppenheimer, Raymond James, Davidson, Raymond James downgrades Organizations: NVDA, MU, Apple, Huawei, Booz, Guggenheim, RBC, Deutsche Bank, Northrop, Deutsche, JPMorgan, Uber, Holdings, 3M, " Bank of America, Bank of America, Edge, Barclays downgrades Bristol, Myers Squibb, Barclays, Bristol, Ford, Microsoft, Charter, HSBC Locations: China, underperform
U.S. National Debt Tops $35 Trillion for First Time
  + stars: | 2024-07-29 | by ( Alan Rappeport | ) www.nytimes.com   time to read: +1 min
America’s gross national debt topped $35 trillion for the first time on Monday, a reminder of the nation’s grim fiscal predicament as legislative fights over taxes and spending initiatives loom in Washington. The Treasury Department noted the milestone in its daily report detailing the nation’s balance sheet. The leading presidential candidates, Vice President Kamala Harris and former President Donald J. Trump, have said little about the nation’s deficits on the campaign trail, suggesting that the economic problem will only worsen in the coming years. Deep differences between Republicans and Democrats on policy priorities and resistance within both parties to enacting cuts to the biggest drivers of the national debt — Social Security and Medicare — have made it difficult to reduce America’s borrowing. The Congressional Budget Office said last month that the U.S. national debt is poised to top $56 trillion by 2034, as rising spending and interest expenses outpace tax revenue.
Persons: Kamala Harris, Donald J Organizations: The Treasury Department, Trump, Social Security, Medicare, Congressional, Office, U.S Locations: Washington, United States
CNN —A “biohazard” on a United Airlines flight is the latest midair incident to trigger an unplanned, early landing of a commercial plane. United Airlines says one passenger’s “medical issue” caused flight 2477 to land in Virginia, where the plane had to be “deep cleaned.” FlightAware shows the flight departing Houston on Sunday morning, then diverting to Washington Dulles International Airport about two hours into the trip. Audio posted on X by Thenewarea51 captured a flight crew member describing a “biohazard” on board the flight. Earlier this month, a Delta flight diverted to New York when spoiled food made passengers sick. In April, a United flight had to return to San Francisco when a toilet began overflowing.
Persons: FlightAware, Thenewarea51, , United Organizations: CNN, United Airlines, Houston, Washington Dulles International Airport, Boston Logan International Airport, Boston, Delta Locations: Virginia, New York, San Francisco
TD Cowen raised its price target on Apple shares to $250 ahead of earnings later this week. The firm upgraded the conglomerate to buy from hold and raised its price target to $150 per share from $110. Jonas maintained an overweight rating on Tesla stock with a $310 price target, implying more than 41% upside from Friday's $219.80 close. The analyst upgraded the chemicals stock to overweight from neutral, and reiterated a $55 per share price target. — Brian Evans 5:49 a.m.: TD Cowen raises Apple price target ahead of earnings Artificial intelligence is going to be a main driver to Apple going forward, and the company's upcoming earnings release could reflect that, according to TD Cowen.
Persons: TD Cowen, Guggenheim, Morgan Stanley, Tesla, 3M's, Bill Brown, Nicole DeBlase, DeBlase, — Brian Evans, Adam Jonas, Jonas, Brian Evans, Jeffrey Zekauskas, Olin, Piper Sandler, Charles Schwab, Charles Schwab's, Schwab, Patrick Moley, AAPL, Krish Sankar, Sankar, John DiFucci, Fred Imbert Organizations: CNBC, Apple, Technologies, Ford, Deutsche Bank, EV, JPMorgan, Olin, Huawei, Akamai Technologies, Guggenheim, Security Locations: U.S, Friday's, China
After holding crypto for more than one year, you'll qualify for long-term capital gains of 0%, 15% or 20%, depending on taxable income. Higher earners may also owe an extra 3.8% levy, known as net investment income tax. By comparison, short-term capital gains or regular income taxes apply to assets owned for one year or less. New crypto reporting rulesThe U.S. Department of the Treasury and IRS in June released final guidance for digital asset brokers, which phases in mandatory yearly reporting. With limited past reporting on basis, crypto investors can still establish a "reasonable allocation" before Jan. 1, 2025, according to an IRS revenue procedure released in June.
Persons: Donald Trump, Jon Cherry, Adam Markowitz, Andrew Gordon Organizations: Republican, Getty, IRS, Luminary, Internal Revenue Service, U.S . Department of, Treasury, Gordon Law Group Locations: Nashville , Tennessee, Windermere , Florida
SharkNinja is a specialty appliance stock that stands out above its competitors, according to JPMorgan. The Wall Street bank reiterated its overweight investment rating on the company, which designs small home appliances such as vacuums or the popular CREAMi ice cream maker, and is scheduled to report earnings on Aug. 8. SharkNinja stock has soared 145% since debuting in the U.S. at $30.05 per share this time last year. SN YTD mountain SN YTD chart "We believe there are a number of factors driving recent underperformance (e.g., tariff risk, ocean freight spike, lateral from HELE results), although we think these risks are largely overstated for SN," the analyst wrote. The analyst also has high expectations for SharkNinja heading into the release of its second-quarter earnings results.
Persons: Andrea Teixeira, Teixeira, SharkNinja, — CNBC's Michael Bloom Organizations: JPMorgan, Management Locations: SharkNinja, Friday's, U.S, HELE
Mortgage rates have been prohibitively high this year for many would-be homebuyers. But as mortgage affordability improves throughout the next few months, more buyers should be able to find a home and mortgage payment that fits their budget. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This is a significant slowdown compared when it peaked at 9.1% in 2022, which means mortgage rates should start trending down soon. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.
Persons: you'll, Fannie Mae Organizations: Zillow, Mortgage, Association, Sky Locations: Chevron
A performance during the Paris Olympics’ opening ceremony on Friday has drawn criticism from church leaders and conservative politicians for a perceived likeness to Leonardo da Vinci’s depiction of a biblical scene in “The Last Supper,” with some calling it a “mockery” of Christianity. In the performance broadcast during the ceremony, a woman wearing a silver, halo-like headdress stood at the center of a long table, with drag queens posing on either side of her. Later, at the same table, a giant cloche lifted, revealing a man, nearly naked and painted blue, on a dinner plate surrounded by fruit. He broke into a song as, behind him, the drag queens danced. The tableaux drew condemnation among people who saw the images as a parody of “The Last Supper,” the New Testament scene depicted in da Vinci’s painting by the same name.
Persons: Leonardo da, Robert Barron, Organizations: Paris Olympics, Bishops ’ Conference Locations: Minnesota
US to announce military command revamp in Japan, official says
  + stars: | 2024-07-28 | by ( ) www.cnbc.com   time to read: +2 min
A dealer works behind U.S., left, and Japanese national flags at a foreign exchange brokerage in Tokyo, Japan. The United States will unveil a major revamp of its military command structure in Japan and other measures to deepen defense ties with its Asian ally at high-level security talks in Tokyo on Sunday, a U.S. official said. Forces Japan as a Joint Force Headquarters, reporting to the commander of U.S. INDOPACOM," the U.S. official told a briefing ahead of the talks. The command will be headed by a three-star general, the official said, not the four-star rank that Japan had requested. Prompted by China's growing military might, Japan is stepping back from decades of postwar pacifism.
Persons: Antony Blinken, Defence Lloyd Austin, Yoko Kamikawa, Minoru Kihara, Kihara, Shin Won, Austin, Fumio Kishida, Joe Biden, Biden, Blinken, Wang Yi Organizations: U.S, Defence, Japanese, Austin, South Korean, Forces Japan, Joint Force Headquarters, U.S ., Defense Industrial Cooperation, Sustainment Locations: Tokyo, Japan, United States, Washington, China, North Korea, United, Asia, U.S, Ukraine, Blinken, Austin, Philippines, Laos
New York CNN —“Deadpool & Wolverine” barreled through the $200 million benchmark, cementing the blockbuster as the record holder for the highest grossing opening weekend for an R-rated movie. “Deadpool & Wolverine” is now also among the top opening weekends ever, ranking at No. Could “Deadpool & Wolverine” reinvigorate the franchise? But less than three weeks after its release, the year-over-year domestic box office revenue deficit shrunk from 27% to 19%. Now, the deficit stands at 16.9% and it could keep shrinking depending on how “Deadpool & Wolverine” finishes its run in theaters.
Persons: New York CNN —, Deadpool, , , “ Deadpool, MCU, ” Shawn Robbins, , , ” Robbins, Michael O’Leary, , ” Paul Dergarabedian, Mario, “ Barbie ”, “ Oppenheimer ” — Organizations: New, New York CNN, Marvel, Disney, CNN, showtime, National Association of Theatre Owners, , Mario Bros Locations: New York, United States,
Investors seeking solid dividend payers can rely on top-ranked Wall Street analysts, who make recommendations after thoroughly analyzing a company's ability to generate solid financials and deliver strong returns. Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. WES offers a high dividend yield of 8.8%. Hanold expects Q2 2024 shareholder returns to comprise a fixed dividend of 90 cents a share and a variable dividend of $1.25 per share, with no stock buybacks. KO offers a dividend yield of about 2.9%.
Persons: Wall, WES, Gabriel Moreen, Moreen, TipRanks, FANG, Scott Hanold, KO, Nik Modi, Modi Organizations: Wall Street, Western, Western Midstream Partners, Mizuho, MLP, Diamondback Energy, Endeavor Energy, RBC Capital, Diamondback, Cola Locations: Texas , New Mexico , Colorado , Utah, Wyoming, West Texas, Philippines, India
As market competition heated up, Tesla started cutting prices, which turned into an industrywide price war that Tesla isn't winning. It's a steep fall, considering Tesla's share of the EV market used to be as high as 80%. Critics balked, but Musk assured the Tesla community that this was the only strategy to save the company. Musk is looking for ways to buy time for Tesla — and one of those ways is to get Trump elected. Preserving Tesla's market position is imperative until he can conjure another product that people are excited to buy.
Persons: Elon Musk, Donald Trump —, Tesla, Trump, Joe Biden's, Kelley Blue, Musk, Ford, , Critics, shouldn't, ZEV, Steve Granitz, Vaibhav Taneja, China's, Elon — Organizations: Elon, Trump, Tesla, White, EV, GM, Getty Images Trump, PAC Locations: China, USA, Shanghai
Read previewA big perk of a Costco membership is the unlimited returns offered by the company. While the returns policy on electronic goods is now 90 days, until 2007, Costco members had an unlimited returns policy on electronic goods — excluding personal computers. It's far from the only example of Costco returns. Bean used to offer a legendary lifetime returns policy but switched to a one-year return limit in 2018 after some customers abused it. Shoshy Ciment/Business InsiderCostco's business model relies on maintaining customer loyalty, and unlimited returns help.
Persons: , Yuliana Martinez, Louis Orellana, Bean, Shoshy, Neil Saunders, Saunders, Katherine Black, Kearney, Gina Logan, Logan Organizations: Service, Costco, Business, GlobalData
The GOP, under presidential candidate Donald Trump, could seek to extend the 2017 Tax Cuts and Jobs Act. In the abstract, one can argue that tax cuts and deregulation are good for business. However, further unfunded tax cuts would add to the nation's deficits and debt. He has also pushed for raising the corporate tax rate to 28%. Currently, that rate is at 20%, plus a 3.8% net investment income tax for high earners.
Persons: we've, Donald Trump, Trump, Biden, Eisenhower, Kamala Harris, Joe Biden Organizations: GOP, Wall, United, Bureau of Labor Statistics, Observers, White, Trump, Biden, Federal Reserve Locations: Washington ,, United States, U.S, America
“This would rank among the top 10 openings of all-time and marks the sixth-highest Friday ever reported at the box office,” said Paul Dergarabedian, senior media analyst at Comscore. An over-performing box office makes a comebackAlthough the summer box office was off to a sputtering start after a tepid spring, there have been several blockbusters invigorating the industry. But less than three weeks after its release, the year-over-year domestic box office revenue deficit shrunk from 27% to 19%. Now, the deficit stands at 16.9% and it could keep shrinking depending on how “Deadpool & Wolverine” performs. Although analysts are predicting a more lukewarm total for 2024, the successful summer movie slate is positioning the industry to further close the gap.
Persons: Deadpool, , Daniel Loria, Paul Dergarabedian, Ryan Reynolds, Hugh Jackman, Shawn Levy, ” Dergarabedian, , , Dergarabedian, , Mario, “ Barbie ”, “ Oppenheimer ” —, Organizations: New, New York CNN, Box, Comscore, showtime, Rotten, Marvel Cinematic, , Disney, Mario Bros Locations: New York, United States,
Former US military officers say this trend underscores a lack of secure military communication options or discipline and leaves Russian soldiers vulnerable to Ukrainian attacks. Russian military officers look at their smartphones while walking past the Kremlin in Moscow in April 2024. Ukrainian soldiers prepare a BM-21 artillery vehicle in its fighting position in the Donetsk region in July 2024. AdvertisementOne such incident occurred at the very end of 2022, when Ukraine launched a devastating precision strike against Russian troops gathered in Makiivka, in the eastern Donbas region. Related storiesUkraine's military intelligence agency, the HUR, regularly publishes audio of purported interceptions from calls made by Russian soldiers.
Persons: , Dan Rice, Rice, Mark Cancian, Diego Herrera Carcedo, Cancian, HUR Organizations: Service, Former US, Business, State Duma, State, Defense, Institute for, Kremlin, US, American University Kyiv, US Marine Corps, Center for Strategic, International Studies, Getty, Russian, Kyiv, Ukrainian, Russian Defense Ministry, US Army, United Locations: Ukraine, Russian, Moscow, Donetsk, Anadolu, Makiivka, Russia, United States
Here’s where Harris stands on key issues
  + stars: | 2024-07-27 | by ( Tami Luhby | Meg Tirrell | Ella Nilsen | ) edition.cnn.com   time to read: +12 min
CNN —A week after announcing her run for president, Kamala Harris has yet to tell voters how she will address the key issues facing the nation. Harris has also touted the Biden administration’s efforts to lower drug costs, reduce child poverty, forgive student loan debt and remove medical debt from credit reports. Hefty student debt loads are also an area of interest to Harris. Experts credit Harris’ ability to secure private-sector investments as her most visible action in the region to date but have cautioned about the long-term durability of those investments. For President Biden and me, our sacred commitment to NATO remains ironclad.
Persons: Kamala Harris, Joe Biden, Harris, she’s, Biden, Donald Trump, , Roe, Wade, She’s, Trump, Immigration Biden, Benjamin Netanyahu, Biden’s, Netanyahu, ” Harris, , ” Harris didn’t, Ukraine Harris, Volodymyr Zelensky, , Vladimir Putin Organizations: CNN, America, , Black, Zeta Phi Beta, Biden, Families, Wall Street, ConocoPhillips, Exxon Mobil, Senate, Green, Immigration, Department of Homeland Security, Partnership for Central America, Israeli, Munich, United States Congress, NATO Locations: Indianapolis, Minnesota, Biden’s, Canada, United Kingdom, France, Japan, Australia, Paris, Central America, Mexico, Israel, Gaza, , Indiana, Ukraine
Since Harris kicked off her presidential campaign, there’s been a string of good news for the US economy. Harris will have Biden’s mostly strong economy to run on. By June 2021, Biden’s sixth month in office, the nation’s inflation rate jumped to more than 5%. After the Federal Reserve hiked interest rate hikes to a 23-year high to stamp out inflation, the economy — eventually — started to run at a slower pace. The Biden administration canceled $168 billion in student loan debt for 4.8 million Americans.
Persons: Joe Biden, Biden, Kamala Harris, Harris, there’s, Biden’s, , hasn’t, Evan Vucci, Eros Hoagland, Getty, Lina Khan, Jonathan Kanter, Stocks Organizations: CNN, White House, House, Federal, Trump, Biden, Federal Reserve, Gross, Commerce Department, of Labor Statistics, Infrastructure Investment, Jobs, AFL, National Labor Relations Board, United Auto Workers, Union, AP Relief, American, ARPA, Medicare, University of North, Hill, Apple, Google, Federal Trade Commission, Department, FTC, Activision, Big Tech, Justice Department, Fed Locations: Ukraine, Van Buren Township , Michigan, University of North Carolina, America, Valley, Silicon Valley
ET, the yield on the 10-year Treasury was up by less than one basis point at 4.2563%. The 2-year Treasury yield was last at 4.4307% after falling by over one basis point. U.S. Treasury yields were little changed on Friday as investors awaited the release of key inflation data ahead of the Federal Reserve's upcoming monetary policy meeting next week. Those are some of the last key economic data releases before the Fed meets next week to discuss monetary policy. The inflation figures come after economic data throughout the week have given mixed signals about the state of the economy.
Persons: Dow Jones Organizations: Treasury, Federal, PCE, Fed, U.S, PMI
Lin pours earnings from his day job into real estate. Managing rental properties: 'It's so minimal that I don't even consider it work'The majority of Lin's $1 million net worth is tied up in real estate. He chose to buy in Little Rock, where real estate prices are lower and rent is stable, he says. Lin bought a portfolio of three houses in March 2023, then another building in February 2024. Real estate takes up a lot of Lin's time when he's actively searching for a new place to buy, or when he's dealing with tenant turnover.
Persons: Moses Lin, Lin, Lin customizes, Sophie Epton, influencers, he'll, I'm, — I'm, I've, It's, he's, who's, we're Organizations: CNBC Locations: Southern California, Little Rock , Arkansas, California, Italy, Lake Como, Milan, Ireland, Dubai, Singapore, Chicago , New York, Little Rock
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