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☆ Long Covid medical costs average $9,500 in first six months, as patients become 'health-system wanderers'
▼ + stars: | 2022-12-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

Long Covid is a chronic illness that can carry potentially debilitating symptoms, which may last for months or years. Long Covid patients are "health-system wanderers," said Mark Newman, CEO and co-founder of Nomi Health. "There are diseases and conditions with a lot of obvious answers, and long Covid is not one of them," Newman said. In a separate study, Harvard University economist David Cutler estimated that long Covid costs patients $9,000 a year in medical expenses. Patients with long Covid racked up $9,000 in additional average medical costs per person when compared to similar people who had Covid but didn't have subsequent long-haul symptoms, Nomi Health found.

☆ In a leaked all-hands recording, Salesforce CEO Marc Benioff discussed executive departures and vowed again to try and win them back
▼ + stars: | 2022-12-12 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Salesforce is experiencing an executive exodus as co-CEO Bret Taylor and others resign. Marc Benioff addressed the exits in the company's latest all-hands, vowing to recruit them back. Salesforce cofounder and CEO Marc Benioff addressed the company's recent executive exodus during a company all-hands last week, according to a recording viewed by Insider. Taylor's plans to leave the company became public Nov. 30 — exactly one year after taking over as co-CEO alongside Benioff. At the all-hands, Benioff put a cheerful spin on the exodus, emphasizing yet again plans to pursue those who have left.

On the agenda today:But first: Ashley Stewart, a chief tech correspondent, is giving us a behind-the-scenes look at Salesforce's succession crisis. Salesforce's Marc Benioff. Jemal Countess / StringerOver the past week or so, at least six top executives from Salesforce and its subsidiaries announced plans to leave, Ashley Stewart, chief tech correspondent, writes. Company insiders attribute these departures to co-CEO Marc Benioff exerting increasing control over the company, adding that he's driven away his closest lieutenants while dialing up performance pressure on employees. The departures have created a crisis in leadership at Salesforce.

On this National Latina Pay Equity Day — set aside on Dec. 8 to focus on the pay gap between Latinas and non-Hispanic white men — advocates are pressing a distinct message: It's worse than you think. The true reality of millions of working women has not been reflected in calculations of the wage gap by leaving out women who work part-time, seasonal or migrant jobs, Ramírez said. For Latinas, it takes an average of 24 months to equal what white, non-Hispanic males are paid in 12 months. According to the Justice for Women report, non-Hispanic white men working full and part time on average earn $50,624 per year, while Latinas working full and part time average $25,312. Among Latinas specifically working full time, year-round, women of Honduran descent had the lowest earnings compared to non-Hispanic white men, at 44 cents for every dollar earned.

☆ 'People come and people go,' says a defiant Benioff. And we're sticking with the Salesforce CEO despite the smoke
▼ + stars: | 2022-12-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +4 min

In a CNBC interview Thursday, Jim Cramer pressed Salesforce co-founder and veteran leader Marc Benioff on the recently announced departure of his co-CEO , Bret Taylor. Taylor will step down as his co-CEO at the end of January , at which point Benioff will resume his prior role as sole chief executive. For his part, Jim said he was satisfied with Benioff's responses, while reiterating the Club's continued backing of the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Salesforce cofounder and co-CEO Marc Benioff speaks during the grand opening of the Salesforce Tower, the tallest building in San Francisco, Calif., Tuesday, May 22, 2018.

☆ Elon Musk is bringing in new faces for Twitter 2.0 — including his cousins and Bari Weiss
▼ + stars: | 2022-12-08 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +5 min

The makeup of Elon Musk's Twitter is changing, and not just because the offices are now bedrooms. With the majority of the company's former staff having been laid off — or fired, or resigned — Musk has brought in some of his own picks to work at Twitter 2.0. There's more on the new faces at Musk's social media company below, so let's get to it. Elon Musk is bringing in new faces for Twitter 2.0. And these aren't the only new faces at Twitter — hundreds of people have applied for a chance to work at Musk's new company.

☆ Salesforce has a succession crisis. Cofounder Marc Benioff is taking increasing control over the company — alienating his top lieutenants and dialing up pressure on employees.
▼ + stars: | 2022-12-07 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

Salesforce insiders attribute these departures to Marc Benioff's response to recent economic headwinds. Last week, Salesforce revealed heir apparent Bret Taylor's plans to leave the company — exactly one year after taking over as co-CEO alongside Benioff. Lately, employees said, Benioff has turned those meetings into a tribunal for his sales executives. While the pandemic was a boon for the company, Salesforce has since trimmed its annual revenue projections to roughly $30 billion down from the roughly $31 billion in May. Salesforce's co-CEO model has failedAs Benioff puts pressure on sales executives, people close to him said he's exerting increasing control over C-Suite executives.

☆ Salesforce is losing the key execs behind some of its biggest and most expensive bets at a critical moment
▼ + stars: | 2022-12-06 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Slack CEO Stewart Butterfield is also departing, along with some other product-focused execs. The departing execs championed Salesforce's product strategyThe departures of Taylor, Butterfield, and Nelson come as Salesforce's strategy comes under the microscope on Wall Street. With Slack and Tableau, Salesforce already had a lot to prove. Salesforce has already said that Lidiane Jones, an executive VP, will take over for Butterfield as Slack CEO. What it does mean, however, is that Salesforce, Slack, and Tableau are all losing the biggest champions of the integrated product strategy right as the company faces hard questions.

On Monday, the company announced the departure of Slack CEO Stewart Butterfield, who joined Salesforce last year as part of its biggest acquisition ever. Taylor, who joined Salesforce in 2016 through the acquisition of his startup Quip, said he'd "decided to return to my entrepreneurial roots." While Taylor and Butterfield are the highest-profile exits, they're far from alone among Salesforce's executive ranks. Noah Weiss, senior vice president of product at Slack, will succeed Yehoshua, Butterfield said in a Slack message. Butterfield is being succeeded by Lidiane Jones, an executive vice president at Salesforce who joined in 2019.

☆ Salesforce drops 6% after Slack CEO Stewart Butterfield becomes 3rd high-profile management departure in less than a week
▼ + stars: | 2022-12-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Salesforce fell 6% on Monday after Insider reported that executive Steward Butterfield is departing the company. Butterfield's exit from Slack marks the third high-profile executive departure in less than a week. Butterfield is the co-founder and current CEO of the popular workplace messaging platform Slack, which Salesforce acquired for about $28 billion in 2021. The imminent departure of Butterfield is concerning to Salesforce investors because it marks the third high-profile executive departure in less than a week. Butterfield said in an internal Slack message viewed by Insider that his departure has nothing to do with the departure of Bret.

☆ Salesforce loses another top executive a day after Bret Taylor's departure as Tableau CEO quietly exits. Here are the top execs who left the company recently.
▼ + stars: | 2022-12-01 | by ( Ashley Stewart | Matt Lynley | ) www.businessinsider.com time to read: +2 min

Tableau CEO Mark Nelson is leaving the Salesforce-owned software company. The news came the day after Salesforce announced co-CEO Bret Taylor's resignation. Here's a list of top Salesforce execs who left the company recently. "Today marks my last day Tableau after an amazing 4 ½ years," Nelson wrote on Twitter. Here are some of the top executives who left Salesforce in the past year:Are you a Salesforce employee or do you have insight to share?

☆ Marc Benioff's 2023 to-do list after his co-CEO's shocking departure
▼ + stars: | 2022-12-01 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Salesforce is seeing it's co-CEO Bret Taylor depart and facing slowing revenue growth. While earnings beat analyst expectations, it also revealed the slowest revenue growth in the past two years, at 14%. Figure out the future of SlackTaylor's departure also raises questions about Slack, since Taylor spearheaded the $27.7 billion acquisition in 2020. Figure out how to jump-start revenue and land big customersWhile it wasn't a huge shock given the overall economic environment, Salesforce's slowed revenue growth is worrying. Secondly, as part of its larger platform strategy, Salesforce has been going after larger customers and looking to land deals for multiple Salesforce products versus just one or two.

☆ No signs yet of the market truly rolling over, says Fundstrat Global Advisors' Mark Newton
▼ + stars: | 2022-11-30 | 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 EmailNo signs yet of the market truly rolling over, says Fundstrat Global Advisors' Mark NewtonFundstrat Global Advisors' Mark Newton joins the 'Halftime Report' to discuss Apple's contribution to the market slump, the influence of monetary policy on the tech sector and steps companies are taking to reduce downside risk.

☆ Eisai shares plunge 10% in Tokyo after report of death in Alzheimer's trial
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 29 (Reuters) - Shares in Japanese drugmaker Eisai Co (4523.T) headed for their biggest plunge in more than a year on Tuesday after a report that a woman in a trial of the company's Alzheimer's disease treatment died. Eisai's shares sank 10% to 8,595 yen, leading decliners on the benchmark Nikkei index (.N225), which slid 0.5% in the morning session. Shares in Biogen sank 4.3% on Monday. Eisai and Biogen shares have been on a roller coaster in recent years on prospects for their candidates to battle dementia. Lecanemab was shown to slow cognitive and functional decline in a large trial of patients in the early stages of Alzheimer's disease, Eisai and Biogen said in September.

But Hong Kong's Court of Final Appeal (CFA) on Monday gave a final ruling on the matter, rejecting the government's application to impose a "blanket ban" on foreign lawyers working on national security cases, bar exceptional circumstances. Lai is one of the most prominent Hong Kong critics of China's Communist Party leadership including Xi Jinping, and Hong Kong's Department of Justice made repeated attempts to block Owen from representing him. SWEEPING NATIONAL SECURITY LAWLee also said there was no means of ensuring a foreign lawyer would not divulge state secrets that might emerge during a national security trial. Beijing imposed the sweeping national security law on Hong Kong in June 2020 after sometimes-violent protests rocked the city for months the year before. Beijing's power of ultimate legal interpretation is outlined in the Basic Law, the mini-constitution that grants extensive Hong Kong autonomy and freedoms.

☆ Foxconn unrest risks iPhone shipments, weighs on Apple shares
▼ + stars: | 2022-11-26 | by ( Yimou Lee | ) www.reuters.com time to read: +5 min

Apple shares were down 1.9% in late morning trade on Friday, while the benchmark Nasdaq index was down 0.3%. LOWER SHIPMENTSKGI Securities analyst Christine Wang said if the current issue lasts through December, around 10 million units of iPhone production will be lost, which translates to 12% lower iPhone shipment in the last quarter of 2022. REUTERS/Ann Wang 1 2Wedbush Securities estimates many Apple stores now have 25% to 30% fewer iPhone 14 Pros than normal heading into the holiday shopping season. In a statement on Nov. 7, Apple said it expected lower iPhone 14 Pro and iPhone 14 Pro Max shipments than previously anticipated. Another Foxconn source familiar with the matter said some new hires had left the campus but did not elaborate on how many.

☆ Dollar's fall from its highs has made these ETFs more attractive
▼ + stars: | 2022-11-23 | by ( Patti Domm | In | ) www.cnbc.com time to read: +1 min

Mark Newton, head of technical strategy at Fundstrat, looked specifically at Europe and the performance of the SPDR Euro STOXX 50 ETF . Newton said the ETF broke out in late October, compared with the S & P 500 and has performed better into mid-November. The dollar index, which represents the dollar against a basket of currencies, has fallen about 3.2% since the start of November. FEZ is up 13.9% in that period, while the S & P 500 is up 4% in that time. Newton said he would also look to the iShares MSCI Eurozone ETF, or EZU, for this trade, since it is another big liquid ETF.

☆ Energy is the right sector to be in going into the new year, says Fundstrat's Mark Newton
▼ + stars: | 2022-11-22 | 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 EmailEnergy is the right sector to be in going into the new year, says Fundstrat's Mark NewtonMark Newton, Fundstrat, joins 'Closing Bell: Overtime' to discuss the possibility of a year-end rally and technicals in the market.

☆ Buffett's Berkshire boosts stakes in Japan's five biggest trading houses
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 21 (Reuters) - Berkshire Hathaway Inc (BRKa.N), run by billionaire Warren Buffett, has raised its stakes in each of Japan's five biggest trading houses by at least 1 percentage point to more than 6%, regulatory filings showed on Monday, sending shares higher. The move is line with Berkshire's statement in 2020 that its investments in the Japanese trading houses were for the long term and the stakes could rise to 9.9%. The news boosted shares of the five trading houses, led by Mitsubishi and Marubeni, which were up more than 2% in morning trade, while the benchmark Nikkei (.N225) index was nearly flat. Berkshire's increased investments in the trading houses come as it this month bought more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing (2330.TW), a rare significant foray into the technology sector by the conglomerate. Reporting by Makiko Yamazaki; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

☆ These biotech stocks look cheap — and analysts give 2 more than 100% upside
▼ + stars: | 2022-11-16 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

U.S. biotech stocks have been on the up recently. To identify biotech stocks that look cheap and are expected to rally looking ahead, CNBC Pro screened the iShares Biotechnology ETF on FactSet. The ETF, which tracks U.S. biotech stocks, has jumped around 10% in the past month, and risen more than 4% in the past week. Two stocks stood out as having average potential upside of more than 100%, and a buy rating from all analysts who cover them. One stock — Chimerix — had an average price target upside of 266% from analysts, 83% of whom gave it a buy rating.

☆ Technical price charts show where the stock market rally could stall out
▼ + stars: | 2022-11-15 | by ( Patti Domm | In | ) www.cnbc.com time to read: +5 min

Some strategists expect the S & P 500 to rally as high as about 4,100 and top out there. They had a lead time of two weeks to when the S & P peaked," she said. "I'm not recommending countertrend positions, but I do think think the Nasdaq-100 could outperform temporarily," she said. Scott Redler, partner with T3Live.com, agrees the S & P 500 could rally until 4,100, still below its August high of 4,325. But until then, the S & P will take aim at its 200-day moving average, at 4,078.

☆ Japan's Daiichi Sankyo says mRNA COVID vaccine successful in booster trial
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Nov 15 (Reuters) - Japan's Daiichi Sankyo Co (4568.T) said on Tuesday its mRNA-based COVID-19 vaccine had reached its primary endpoint in a trial of the shot as a booster. Based on the results, Daiichi Sankyo will file a new-drug application to regulators in January 2023. Approval would give Japan a home-grown source for mRNA vaccines, which have made up the bulk of its COVID inoculations to date. Japan has relied on imports of shots developed by U.S.-based drugmakers Pfizer Inc (PFE.N) and Moderna Inc (MRNA.O). Daiichi Sankyo's shares jumped on the news, rising 3.3% versus a 0.1% advance in the benchmark Nikkei (.n225) gauge.

CIA officer Johnny "Mike" Spann. Tyson tried to come to his aid after hearing Spann call his first name, and found four men on top of Spann, Tyson said. “But when it mattered, he ran towards his comrade — Mike Spann. Having already lost her husband to the war, Spann said the chaotic U.S. exit from Afghanistan and its aftermath have been incredibly painful to watch. Nutsch is part of the group now working to help former Afghan allies escape the Taliban.

☆ Stock market rally will be put to test in week ahead, after yields fall and tech surges
▼ + stars: | 2022-11-11 | by ( Patti Domm | In | ) www.cnbc.com time to read: +10 min

This week, bond yields also came off their highs and were sharply lower, paving the way for gains in tech and growth shares. They include Fed Vice Chair Lael Brainard, New York Fed President John Williams and Minneapolis Fed President Neel Kashkari to name a few. Hogan said that group includes Bullard, Brainard and San Francisco Fed President Mary Daly. Many strategists are calling the move higher a bear market rally, and some expect it will fizzle in December while others say it could continue into the new year. Friday Earnings: JD.com, Foot Locker, Buckle 8:40 a.m. Boston Fed President Susan Collins 10:00 a.m.

☆ INDIA STOCKS Indian shares fall as autos drag, awaits U.S. inflation data
▼ + stars: | 2022-11-10 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

BENGALURU, Nov 10 (Reuters) - Indian shares fell on Thursday, weighed by auto and metal companies, as investors braced for crucial U.S. inflation data that will provide clues about the severity of the Federal Reserve's future interest rate hikes. The NSE Nifty 50 index (.NSEI) dropped 0.7% to 18,037 as of 0522 GMT, while the S&P BSE Sensex (.BSESN) fell 0.70% to 60,609. Indian benchmark indexes hit an over-9-1/2 month peak on Wednesday, driven by the bank Nifty index (.NSEBANK) touching a record high on the back of improved asset quality and credit growth for lenders. The bank index has gained about 17% so far this year, beating the benchmark Nifty index's 4% gain. Shares of Axis Bank (AXBK.NS) fell 2.7% after the Indian government proposed to sell a 1.55% stake in the private lender.

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