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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 Cuban is among the richest people in the US, with an estimated net worth of $5.7 billion. He's earned his fortune through business deals including the $5.7 billion sale of Broadcast.com. Go to newsletter preferences Thanks for signing up! AdvertisementMark Cuban, 66, is one of the wealthiest people in America, with an estimated net worth of $5.7 billion, according to Forbes. This story is available exclusively to Business Insider subscribers.
Persons: Mark Cuban, He's, Organizations: Service, Forbes, Business Locations: Dallas, America
CNN —A major Trump Media shareholder and former contestant on “The Apprentice” has unloaded almost his entire stake in former President Donald Trump’s social media company. Although the stock price has been volatile, that stake is worth roughly $100 million at current prices. That is down from just over 7.5 million shares that the firm owned as of late March. Insiders were prohibited from selling shares in Truth Social owner Trump Media by lock-up restrictions, which appear to have lifted. Trump owns 114.75 million shares in Trump Media, according to the most recent filings.
Persons: Donald Trump’s, Andy Litinsky, Litinsky, burnish, Trump Organizations: CNN, Trump Media, United Atlantic Ventures, Trump Media & Technology Group, NBC, Insiders, Truth Social, Trump
OpenAI is said to be closing a funding round that could value the company at as much as $150 billion. "Kushner is betting the ranch on OpenAI and Sam Altman just as Masa Son pledged 40% of his Vision Fund on Yahoo and Jerry Yang. "Second, Sam Altman has proven himself to be one of the greatest tech founders of this generation. Sam Altman has said that AI superintelligence could be a reality within "a few thousand days ." "Everybody wants Sam Altman at the helm, and they're willing to do anything to keep him as the CEO.
Persons: OpenAI, , Sam Altman, ChatGPT, Mira Murati, Bob McGrew, Barret Zoph, Murati's, John Schulman's, Joe Aaron, Aaron, Capital's Josh Kushner, Kushner, Masa Son, Jerry Yang, Jerry Yang wasn't, Jai Das, Goldman Sachs, who's, Altman, they've, Ben Narasin, They're Organizations: Service, Research, Post, Reuters, Nvidia, Apple, Fund, Yahoo, Sapphire Ventures, Venture Locations: Silicon, UAE, OpenAI
Yet, India's central bank appeared to dismiss the negativity earlier this month and reiterated its bullish view of India's growth rate, still expecting the economy to grow by 7.2%. However, when prompted on whether India's growth rate could compete with what China has already achieved for over two decades, the governor was less buoyant. But if you are looking at 10-plus growth, before I venture into that, I have to really do my homework much more," Governor Das said. This week, China's central bank, President Xi Jinping and other top leaders announced plans to boost the country's economy and attract investment. If India intends to grow as fast as China did, it may have to get a move on.
Persons: Goldman Sachs, CNBC's Tanvir Gill, Shaktikanta Das, Das, Narendra Modi, he's, , Xi Jinping, David Tepper, he'd, Kaanhari Singh Organizations: Bank of America, Deutsche Bank, Reserve Bank of India, CNBC, Bank, Appaloosa Management, Barclays Locations: Wall, India, China
China test-fired an ICBM this week, launching it into the Pacific Ocean for the first time in over 40 years. Though it was anything but, China's Ministry of Defense said the test launch was "routine." China's intercontinental ballistic missile test on Wednesday was its first in the Pacific in over 40 years. China's ICBM test comes less than a week before the 75th anniversary of the founding of the People's Republic of China. Xinhua/Lin Yiguang via Getty ImagesThe publicly announced ICBM launch comes as PLARF expands its nuclear arsenal and builds up its missile capabilities.
Persons: , could've, Xu, Decker Eveleth, Tianran, Eveleth, Lin Yiguang, PLARF, Captain Ryan DeBooy Organizations: Service, Army's, Force, China's Ministry of Defense, China People's Liberation Army News, Communication Center, Open Nuclear Network, Business, Center for Naval, Getty, Department of Defense, Pentagon, US, Chinese Foreign Ministry Locations: China, Hainan, South, Pacific, Communication Center China, People's Republic of China, Xinhua, Japan, Guam, Russia, Philippines, Taiwan, Beijing, Taiwan Strait
Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country. William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to economic growth, alongside skills and education, and regulation. "If we do not have domestic capital investing in domestic businesses, we will not see the growth that this government is so rightly focused on," he added. "For me, pension reform is the way to unlock growth in the U.K.," Lee told "Squawk Box Europe." UK pensions reviewU.K. Finance Minister Rachel Reeves in July announced a landmark pensions review as part of a "big bang" of reforms to unlock growth.
Persons: Ian Forsyth, , William Vereker, Vereker, Muirinn O'Neill, we're, Tiina Lee, Lee, it's, Rachel Reeves, Tulip Siddiq Organizations: Labour Party Conference, ACC Liverpool, Getty, Labour, Santander U.K, Citi U.K, CNBC, Finance, Treasury Locations: Liverpool, England, ENGLAND, City, London
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Starbucks shares rose roughly 2% on an analyst upgrade and the stimulus news out of China. 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, Bernstein, Brian Niccol, Jim Cramer's, Jim Organizations: CNBC, Micron, Saudi, Club, Jefferies, GE Healthcare, UBS, GE, Jim Cramer's Charitable Locations: China
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
DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and prices, according to industry forecasters. Sales are expected to fall roughly 2% during the third quarter compared with the same time in 2023, to about 3.9 million vehicles sold, according to Cox Automotive and Edmunds.com. That would be a roughly 5% decrease compared with the second quarter of this year. "2024 has been a volatile year for the new vehicle market, and more of the same is expected in Q4," said Charlie Chesbrough, Cox Automotive senior economist. Both Cox and Edmunds expect light-duty U.S. vehicle sales to total about 15.7 million vehicles in 2024.
Persons: Charlie Chesbrough, Cox, Edmunds, Jessica Caldwell Organizations: DETROIT, Cox Automotive, Federal, CNBC Locations: U.S
Unless the economic outlook changes, mortgage rates may hold steady for the rest of 2024. If they were to weaken unexpectedly, that could spur the Fed to cut rates more aggressively, which in turn could push mortgage rates down further. 5-Year Mortgage Rate TrendsHere's how 30-year and 15-year mortgage rates have trended over the last five years, according to Freddie Mac data. But now that inflation has decelerated and the Fed is expected to cut rates soon, mortgage rates have trended down. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.
Persons: you'll, They've, they've, Freddie Mac, it's, Fannie Mae Organizations: Fed, Zillow, ARM, Federal Housing Administration, Department of Veterans Affairs, Mortgage, Association Locations: Chevron
Mandy Moore welcomes her third child
  + stars: | 2024-09-26 | by ( Issy Ronald | ) edition.cnn.com   time to read: +1 min
CNN —Actress and singer Mandy Moore has welcomed her third child with her musician husband Taylor Goldsmith. Louise Everett Goldsmith arrived happy, healthy, expeditiously and right in time for Virgo season,” Moore posted on Instagram Wednesday, alongside a black and white photo of her smiling at her husband and holding her daughter. Several of her “This Is Us” castmates left congratulatory comments on Moore’s post. Chrissy Metz, who played Moore’s grownup onscreen daughter in “This Is Us” commented, “Awww, Lou! Meanwhile, Susan Kelechi Watson, who plays Moore’s daughter-in-law in the series, said, “In.
Persons: Mandy Moore, Taylor Goldsmith, “ Lou, Louise Everett Goldsmith, ” Moore, , Gus, Ozzie –, Moore, , Rebecca Pearson, , Lou ”, castmates, Chrissy Metz, Moore’s, “ Awww, Lou, Susan Kelechi Watson Organizations: CNN Locations:
AdvertisementLorraine Tan, Morningstar's director of equity research for Asia, also thinks monetary stimulus won't be sufficient. History says their skepticism is warranted, as China's past stimulus efforts have often failed to lead to sustainable gains. Even if this surge holds up, it won't necessarily spark a self-fulfilling prophecy that provides a lasting boost for China's economy. But others like Tan from Morningstar believe this bad news is reflected in Chinese stocks' cheap valuations. The team at UBS Global Wealth Management is also cautiously optimistic about Chinese stocks after this news.
Persons: , they're, Betty Wang, Marcelli, Lorraine Tan, Tan, Brian Mulberry, Mulberry, Wang, China isn't, Jeff Kleintop, Charles Schwab, Donald Trump, Rory Green, Xi Jinping, Biden, Trump, That's, Kleintop, Morningstar, she'd Organizations: Service, Business, People's Bank of, Oxford Economics, UBS Global Wealth Management, Zacks Investment Management, Federal Reserve, BI Locations: China, People's Bank of China, Asia, Central, Republic
I had never visited San Francisco and arrived without a place to live. Once I got my bearings in San Francisco, I would start chasing after the dream job for which I uprooted my life. The perks were as good as advertised, and Google met my expectations of a dream job. I had moved across the country for my dream job, so I wouldn't let a four-hour daily commute stop me now. It started by uprooting my life and commuting four hours a day for my dream job at Google, and it was totally worth it.
Persons: , Mike Manalac, It's, Vince Vaughn, Owen Wilson, San Francisco I, Tesla, I'd, don't, Lauryn Haas Organizations: Service, Google, CPA, Business, Walmart's, Silicon, Baltimore, Facebook, Fortune, Big Tech, Amazon Prime, LinkedIn, Sunnyvale, San, lhaas Locations: Chicago, CohnReznick, Baltimore, PwC, San Francisco, Sunnyvale , California, Silicon Valley, San, San Bruno, Sunnyvale, East Coast , West Coast, Midwest
A woman who had life-changing results on a popular weight loss drug struggled to afford it for years. AdvertisementTara Rothenhoefer, a 49-year-old Florida resident, says her life changed when she joined a clinical trial for a promising new weight-loss medication. While regulated, these compounded drugs aren't FDA-approved, raising concerns from doctors about variations in quality. The grey market of weight-loss drugs is vast and complicated. In August, Eli Lilly halved the price of its weight-loss drug Zepbound through single-dose vials — a bid to lure customers back to brand-name drugs, analysts said.
Persons: , Tara Rothenhoefer, Rothenhoefer, Eli Lilly, She's Organizations: Service, Novo Nordisk's, Research, FDA, Pharmaceutical Locations: Florida
Certainly, there are things parents can do to help their kids form connections. CNN: One in five parents say their child ages 6 to 12 has no friends or not enough. CNN: Two-thirds of the parents you polled wanted their children to be friends with kids who came from similar families. First, I thought the proportion of parents who wanted to know the parents of their kid’s friends would be much higher. Second, I was surprised that 1 in 5 parents feel their kids have no friends or not enough friends.
Persons: Sarah Clark, codirector, Mott, Clark, We’ve, , castmates, Covid, Michelle Icard Organizations: CNN, Mott Children’s, Children’s Health, University of Michigan, intuit Locations: Ann Arbor
Chipping away: Shares of Wells Fargo popped around 5% on signs of progress in its multiyear journey to clean up its operations and have its Federal Reserve-mandated asset cap removed. In addition, this news pushes back on the idea that Wells Fargo recently suffered a regulatory setback. 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, Wells, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Micron, Street, Department of Justice, AMD, Starbucks, Chipping, Reserve, Bloomberg News, Fed, Bloomberg, Currency, Club, Costco, Jim Cramer's Charitable Locations: China, Wells
AdvertisementOn the first day of my quiet vacation, I had great luck with the timing. After that incident, I was so anxious about getting caught while quiet vacationing during work hours that I changed my approach. AdvertisementMy trip turned from quiet vacationing to a workcation with reduced working hours — but it was still very worth it. I told my job I was in ItalyWhen I first went on my quiet vacation, I tried to keep it secret. It just feels so much better to do the work first and then enjoy your vacation to the maximum.
Persons: Holly Andrews, , I'd, It's, Tess Martinelli Organizations: Service, Italy — Locations: Italy, Newport , United Kingdom, Bari, Bari Castle, tmartinelli
The Treasury market, though, hasn't been paying attention. Watching the curveThe difference between the 10- and 2-year notes has widened significantly, increasing by about 12 basis points since the Fed meeting. That sentiment is evident in the "breakeven" inflation rate, or the difference between standard Treasury and Treasury Inflation Protected Securities yields. The 5-year breakeven rate, for instance, has risen 8 basis points since the Fed meeting and is up 20 basis points since Sept. 11. watch nowFed officials aim for a 2% inflation rate, and none of the principal gauges are there yet.
Persons: Anna Moneymaker, hasn't, Jonathan Duensing, — haven't, Robert Tipp Organizations: Federal Reserve, Getty, Treasury, Amundi, Fed, CME, Treasury Inflation Locations: Washington , DC
India's economic growth story is a stunning one — but the question of where investors should park their money is not always straightforward, with one Blackstone executive highlighting a common mistake. However, focusing too much on the macro story can be dangerous for investors, according to Blackstone Private Equity's head of Asia, Amit Dixit. I think you go to India for the macro, everybody knows," Dixit said at the Milken Institute's recent Asia Summit in Singapore. While the list of companies Blackstone invests in India are extensive, he spotlighted the likes of information technology service firm Mphasis , IT service management company R Systems and automotive components manufacturer Sona Comstar . "I think, either end of the spectrum, you can make a lot of money as an investor," he said.
Persons: Blackstone, Blackstone Private Equity's, Amit Dixit, Dixit, Sona Comstar, it's, Manraj Sekhon, Sekhon Organizations: Blackstone Private, Milken, Summit, CNBC, Blackstone, Systems, Templeton Global Investments, Milken Asia Summit Locations: India, Hong Kong, Asia, Singapore
It's been a wild 24 hours at OpenAI. Meanwhile, CEO Sam Altman said Thursday the exec departures were unrelated to restructuring talks. AdvertisementIt's been a wild 24 hours at OpenAI, with three high-level execs leaving the company — including CTO Mira Murati — and reports it's restructuring as a for-profit benefit corporation. Speaking at Italian Tech Week Thursday, OpenAI CEO Sam Altman said the executive departures and restructuring talks were unrelated. "I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," he wrote.
Persons: It's, Sam Altman, , Mira Murati —, Sam Altman's, execs, Altman, Elon Musk, Gary Marcus —, Altman —, Sora hasn't, Marcus, Nicolas Miailhe, Miailhe, I've, it's, Mark Chen, Bob McGrew Organizations: Service, Italian Tech, OpenAI, Bloomberg, Reuters, Geometric Intelligence, Future Society Locations:
AdvertisementOn the first day of my quiet vacation, I had great luck with the timing. After that incident, I was so anxious about getting caught while quiet vacationing during work hours that I changed my approach. AdvertisementMy trip turned from quiet vacationing to a workcation with reduced working hours — but it was still very worth it. I told my job I was in ItalyWhen I first went on my quiet vacation, I tried to keep it secret. It just feels so much better to do the work first and then enjoy your vacation to the maximum.
Persons: , Holly Andrews, I'd, It's, Tess Martinelli Organizations: Service, Business, Italy — Locations: Newport , United Kingdom, Bari, Italy, Bari Castle, tmartinelli
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Altman could reportedly receive a 7% equity stake, which would be worth about $10.5 billion at OpenAI's new valuation. In March, The New York Times reported Murati raised concerns about Altman's leadership style to the board before the ouster. Barret Zoph, the company's vice president of research, and Bob McGrew, OpenAI's chief research officer, are also departing the startup, Altman announced on X . "I obviously won't pretend it's natural for this one to be so abrupt, but we are not a normal company," Altman wrote.
Persons: , Sam Altman, Altman, Mira Murati, Slack, Murati, Barret Zoph, Bob McGrew, Joel Saget, Jenny Chang, Rodriguez, Meta —, it's, Elon Musk's, OpenAI Organizations: Service, Business, Employees, The New York Times, Lakshmi, OpenAI's, Meta, Reuters, Anthropic Locations: OpenAI, Lakshmi Varanasi
CNN —The ball that made Shohei Ohtani the inaugural member of the 50-50 club and placed him firmly in the history books (again) is up for sale – and could be yours for a mere $4.5 million. The outing was the first three-homer game as well as the first 10-RBI game of Ohtani’s career. The ball from the game is now going up for auction, with bids starting at $500,000 – but keen collectors can purchase it privately for $4.5 million. Two-time AL MVP Ohtani is the first and only member of the impressive 50-50 club – though some fans are hoping he could make it to 60-60. Ohtani has since extended his mark to 53 home runs and 56 stolen bases, with four games of the regular season remaining.
Persons: Mark McGwire’s, auctioneers Goldin, , ” Auctioneers, ” Ken Goldin, Goldin, ” Goldin, Ohtani, Dave Roberts, ” Roberts, Ronald Acuña Jr, Alex Rodriguez Organizations: CNN, Los Angeles Dodgers, Miami Marlins, Dodgers, Miami, Los Angeles Angels, ESPN, Atlanta Braves, Seattle Mariners Locations: Miami
Here Are the Charges Eric Adams Faces, AnnotatedFederal prosecutors in Manhattan on Thursday unveiled a five-count indictment against Mayor Eric L. Adams of New York, charging him with bribery conspiracy, fraud and soliciting illegal foreign campaign donations. 1 count Wire fraud Related to accusations that Adams fraudulently accepted public matching funds for his campaign by improperly certifying contributions that were made via “straw donors,” concealing the true sources of the donations. 2 counts Solicitation of a contribution by a foreign national Related to accusations that Adams solicited and received improper campaign contributions through foreign citizens. 1 count Bribery Related to accusations that Adams solicited free and heavily discounted foreign luxury travel in exchange for helping to obtain approval by Fire Department officials of a new Turkish Consulate. Mr. Adams, who is up for re-election in 2025, insisted he was innocent in the case, which is led by U.S. Attorney Damian Williams of the Southern District of New York.
Persons: Eric Adams, Eric L, Adams, Damian Williams Organizations: Turkish Consulate, Fire Department, U.S, Southern, of, New York Times Locations: Manhattan, New York, Turkish, New York City, of New York
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