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☆ China’s richest man blasts tech giants and government inaction in rare rebuke
▼ + stars: | 2024-11-22 | by ( Juliana Liu | ) edition.cnn.com time to read: +4 min

It is very unusual for Chinese businesspeople to take public aim at the government and those who have done so have often faced repercussions. In particular, Pinduoduo’s pricing system has done great harm to China’s brands and its industries,” he was quoted as saying by state-owned media outlet The Paper. In further remarks from the same press conference that were not widely reported by state media, Zhong singled out the Chinese government for not doing more to stop the trend. CNN has reached out to Nongfu Springs and PDD (PDD) for comment. A worker prepares to transfer packages after sorting at a warehouse for an e-commerce company in Beijing on November 11, 2024.

Persons: Hong Kong CNN —, Zhong Shanshan, Zhong, Pinduoduo, Alibaba, Jack Ma, Ma, Colin Huang, Wang Zhao, Zhong’s, Huang Organizations: Hong Kong CNN, PDD Holdings, Sina Technology, CNN, Ant Group, Alibaba, Getty, Bloomberg Locations: China, Hong Kong, Beijing, AFP

☆ The 15 cities around the world with the most billionaires, ranked
▼ + stars: | 2024-11-20 | by ( Madeline Berg | ) www.businessinsider.com time to read: +2 min

AdvertisementNearly one-third of the world's billionaires live in just 15 cities, a new Altrata study says. New York City is home to the largest population of the world's uberwealthy. According to Altrata's 2024 Billionaire Census, which examined the high net worth population, 28% of the world's billionaires live in just 15 cities. AdvertisementNew York City maintained its position as the city with the most billionaires. Altrata reported a total billionaire population of 3,323, up 4% over last year.

Persons: Jackson, Xi, Jack Ma, Altrata Organizations: New Locations: New York City, New York, San Francisco, Palm, York City, China, Germany, Beijing, Shenzhen, Hangzhou, Hong Kong, India

☆ Stocks making the biggest moves midday: Palantir, Moderna, Ulta Beauty, Alibaba and more
▼ + stars: | 2024-11-15 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Global pharma stocks — Shares of several vaccine makers declined after President-elect Donald Trump selected prominent vaccine skeptic Robert F. Kennedy Jr. as health secretary on Thursday. Shares of Moderna and Pfizer slipped nearly 9% and 5%, respectively. Ulta slipped nearly 3% after Berkshire Hathaway revealed in a regulatory filing that it had sold around 97% of its shares, nearly dissolving its position in the beauty retailer. Berkshire had just bought the stock in the second quarter, making Ulta a relatively new bet. However, the company beat expectations on both lines in the fourth fiscal quarter and issued positive guidance for adjusted earnings per share.

Persons: Donald Trump, Robert F, Kennedy Jr, Eli Lilly, Warren Buffett, Berkshire Hathaway, Ulta, — CNBC's Sean Conlon, Alex Harring, Jesse Pound, Hakyung Kim, Lisa Han Organizations: Global pharma, Moderna, Pfizer, GSK, Novo Nordisk, Nasdaq, Securities and Exchange Commission, Super, New York Stock Exchange, Corp, Berkshire, Pool Corp, AST, Materials, LSEG Locations: China, Domino's, Berkshire

☆ Alibaba shares rise 5% in premarket after Chinese tech giant posts 58% jump in profit
▼ + stars: | 2024-11-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Alibaba said net income rose 58% year-on-year to 43.9 billion Chinese yuan ($6.07 billion) in the company's quarter ending Sept. 30, on the back of the performance of its equity investments. This compared with a LSEG outlook of 25.83 billion yuan. Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG data. Investors are closely watching the performance of Alibaba's main business units, Taobao and Tmall Group, which reported a 1% annual uptick in revenue to 98.99 billion yuan in the September quarter. The e-commerce giant's overseas online shopping businesses, such as Lazada and Aliexpress, meanwhile posted a 29% year-on-year hike in sales to 31.67 billion yuan.

Persons: Alibaba, — Organizations: Tmall, ING Locations: York, London, Beijing

☆ Why Jim Cramer is nervous about Best Buy, plus a bright spot in this down market
▼ + stars: | 2024-11-15 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim said he was nervous about Best Buy , the electronics retailer expected to benefit from the refresh AI-powered PC cycle. 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, Jim, Trump, we're, Nextracker, Stocks, Berkshire Hathaway, Jim Cramer's, BBY Organizations: CNBC, Trump, Berkshire Locations: China, U.S, Alibaba

☆ Stocks making the biggest moves premarket: Alibaba, Applied Materials, Ulta Beauty and more
▼ + stars: | 2024-11-15 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Applied Materials — Shares tumbled more than 8% after the semiconductor equipment manufacturer offered weak revenue guidance for the current quarter. Applied Materials said it forecasts $7.15 billion in the first fiscal quarter, under the estimate of $7.224 billion from analysts polled by LSEG. Berkshire Hathaway bought more than 1.2 million shares, making the investment worth around $550 million at the end of September. Ulta Beauty – Shares slipped 5% after Berkshire Hathaway revealed in a regulatory filing that it had nearly dissolved its position in the beauty retailer, selling around 97% of its shares. Ulta was a new bet for Berkshire, which had just bought the stock in the second quarter.

Persons: Robert F, Kennedy Jr, Donald Trump's, Warren Buffett, Berkshire Hathaway, Ulta, Palantir, Jesse Pound, Lisa Kailai Han, Pia Singh Organizations: Materials, LSEG, Moderna, Department of Health, Human Services, Corp, —, Berkshire, Pool Corp, Nasdaq, New York Stock Exchange Locations: China, Domino's

☆ David Tepper's Appaloosa loaded up on Temu parent PDD Holdings during third quarter
▼ + stars: | 2024-11-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Hedge fund billionaire David Tepper's bet on China involved increasing his exposure to the leading e-commerce companies in the world's second-largest economy, according to the latest securities filing. Tepper's Appaloosa Management more than doubled its position in Temu parent PDD Holdings in the third quarter, according to the hedge fund's quarterly filing. Between Alibaba , PDD and JD.com , Appaloosa held roughly $2 billion of Chinese e-commerce stocks at the end of September. The quarterly hedge fund filing released Thursday showed only positions in U.S.-traded equities, including American depositary receipts, and some derivatives. PDD 6M mountain Chinese stocks like PDD Holdings have been volatile in recent months.

Persons: David Tepper's, Tepper, Stocks, Donald Trump's Organizations: Management, PDD Holdings, CNBC, U.S . Securities, Exchange Commission, Wynn Resorts, iShares FTSE, iShares FTSE China ETF, Vistra Corp, NRG Energy, Amazon, Microsoft, UPS, Boeing, U.S . PDD Holdings, National Football League's Carolina Panthers Locations: China, PDD, Alibaba, iShares FTSE China, Lyft, U.S

☆ ‘Big Short’ investor Michael Burry reshuffles portfolio, adds hedges on China holdings
▼ + stars: | 2024-11-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Burry, who now manages hedge fund Scion Asset Management, boosted his stakes in a few Chinese internet companies' ADRs, according to a regulatory filing. The trader added to his Alibaba bet by 29% to a stake worth more than $21 million, making it his largest position at the end of September. The widely followed investor also doubled his stake in JD.com , pushing it to become Scion's second-biggest holding, worth $20 million. Burry also increased his stake in Chinese search engine Baidu by 67% to a bet worth $13.2 million at the end of the third quarter. Burry was depicted in Michael Lewis' book " The Big Short " and the subsequent Oscar-winning movie of the same name.

Persons: Michael Burry, Burry, Michael Lewis, Molina Organizations: Asset Management, Baidu, Alibaba, American Coastal Insurance Corporation, Molina Healthcare, U.S . Securities, Exchange Locations: JD.com

☆ S&P 500 futures are little changed as index heads for losing week: Live updates
▼ + stars: | 2024-11-14 | by ( ) www.cnbc.com time to read: +2 min

S&P 500 futures are near flat Thursday night as investors wondered what's next for the market after the postelection rally wavered. Futures tied to the Dow Jones Industrial Average lost 25 points, or 0.1%. S&P 500 futures also slipped 0.1%, while Nasdaq 100 futures shed 0.2%. The Dow fell more than 200 points in the session, while the S&P 500 and Nasdaq Composite each slipped about 0.6%. The Nasdaq Composite has dropped 0.9% this week, while the S&P 500 and Dow have shed 0.8% and 0.5%, respectively.

Persons: what's, Pizza, Berkshire Hathaway, Dow, Stocks, Jerome Powell, Donald Trump's, Sam Stovall Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Materials, Berkshire, Federal, Dow, CFRA Locations: New York City, Dallas

☆ 'Big Short' investor Michael Burry boosts Alibaba, Baidu, and JD.com bets as he doubles down on China
▼ + stars: | 2024-11-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The "Big Short" investor raised his stakes in Alibaba, Baidu, and JD.com but also hedged the wagers. Burry didn't add any new names to his stock portfolio but exited a couple in the period. AdvertisementMichael Burry doubled down on three of China's biggest technology companies last quarter, boosting his stakes while carefully hedging his bets. The investor of "The Big Short" fame bolstered his Alibaba position by 29% to 200,000 shares worth around $21 million at the end of September, a quarterly portfolio filing revealed on Thursday. The Scion Asset Management boss doubled his JD.com stake to 500,000 shares worth $20 million at quarter end, and purchased put options on the same number of shares.

Persons: Michael Burry, —, bearish, Trump, aren't, He's, Burry Organizations: Baidu, Service, Scion Asset Management, Molina Healthcare, Shift4, Hudson Pacific Properties, American Coastal Insurance, GameStop, Nasdaq, Apple, Nvidia Locations: Alibaba, BioAlta, TheRealReal

☆ Philippe Laffont’s Coatue makes big bets on China and GLP-1 drugmakers in latest quarter
▼ + stars: | 2024-11-14 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

He also increased his stake in JD.com by 8.2 million shares, or 33,490%, and PDD Holdings by roughly 2.28 million shares, or 741%. Laffont also created new positions in iShares China Large-Cap ETF and KraneShares CSI China Internet ETF . Laffont also made a couple of significant increases to the fund's holdings in Eli Lilly and Novo Nordisk . Facebook parent Meta still remains the fund's largest holding, while Amazon, Microsoft and Nvidia remain in the fund's top 10. The filing also showed increased bets on Eaton Corporation, a name closely tied to the artificial intelligence-related energy infrastructure boom, as well as Constellation Energy and NextEra Energy .

Persons: Philippe Laffont's Coatue, Julian Robertson, Laffont, Donald Trump's, Xi Jinping, Eli Lilly Organizations: Philippe Laffont's Coatue Management, U.S . Securities, Exchange Commission, Tiger Management, PDD Holdings, KraneShares CSI China Internet, Novo Nordisk, Novo Nordisk's ADRs, Broadcom, Microsoft, Nvidia, chipmakers Qualcomm, Devices, Taiwan Semiconductor, Facebook, Amazon, Eaton Corporation, Constellation Energy, NextEra Energy Locations: Alibaba, JD.com, iShares China, China, Novo, chipmakers

☆ Singles’ Day shopping festival loses its shine under China’s lagging economy
▼ + stars: | 2024-11-12 | by ( Associated Press | ) www.nbcnews.com time to read: +4 min

HONG KONG — Businesses and consumers in China found the annual Singles’ Day shopping festival less attractive this year due to a sluggish economy, forcing e-commerce firms to look abroad for growth. While Singles’ Day was previously a one-day event, shopping platforms in China now kickstart the festival weeks ahead to drum up sales volume. But amid China’s lagging domestic economy, dragged down by a real estate crisis and deflationary pressures, consumers no longer go all out during the shopping extravaganza. Wang said that the prices offered on e-commerce platforms during Singles’ Day are not necessarily cheaper than usual. “I used to buy a lot two or three years ago and I even purchased a mobile phone (during Singles’ Day),” he said.

Persons: Alibaba, ”, —, “, Wang Haihua, Wang, we’ve, Zhang Jiewei, ” Zhang, Shaun Rein, ” Rein, Gucci, Jacob Cooke, ” Cooke Organizations: HONG KONG —, China Market Research Group Locations: HONG KONG, China, Singapore, Hong Kong, Beijing, Xi’an, Shanghai, “

☆ China's biggest shopping event of the year exceeds low expectations
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Singles' Day shopping festival saw consumers spend more than expected in what has otherwise been a tepid retail environment, consulting executives told CNBC. "I do think for many brands it probably will have turned out a bit better than they thought, but on a low level. Probably nobody would say we hit it out of the ballpark," said Chris Reitermann, CEO of Ogilvy APAC and Greater China. Many multinational corporations that sell consumer products in China are more cautious on the market, if not struggling, Reitermann said. But he pointed out many of the companies are still "very profitable" in the country, even if their growth has slowed to the low single digits, instead of high double digits.

Persons: Major, Chris Reitermann, Ogilvy APAC, Reitermann, Alibaba, JD.com Organizations: BEIJING, CNBC, WPP China Locations: Greater China, China, GMV

☆ China's Alibaba releases AI search tool for small businesses in Europe and the Americas
▼ + stars: | 2024-11-12 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Alibaba International promotes its e-commerce platform for small businesses at the Canton Fair in Guangdong, China, on Oct. 16, 2024. BEIJING — Chinese e-commerce giant Alibaba on Tuesday unveiled an artificial intelligence-powered search engine for small businesses in Europe and the Americas to source supplies. Initial tests showed businesses' purchase intent using the new tool increased by 40% versus traditional search engines, according to Kuo Zhang, president of Alibaba.com and vice president of Alibaba International. The initial version is web-based and supports English, German, French, Portuguese and Spanish, according to the company. At the end of the search, the tool lists a number of procurement options for the business to discuss directly with each supplier.

Persons: Kuo Zhang, Alibaba.com, Harry Potter Organizations: Alibaba, Fair, Alibaba International, CNBC Locations: Guangdong, China, BEIJING, Europe, Americas

☆ SoftBank is betting on AI and an IPO revival after swinging to a $7.7 billion profit
▼ + stars: | 2024-11-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

SoftBank reported a $7.7 billion quarterly profit on Tuesday after a loss last year. SoftBank Vision Fund's CFO told BI that "macro tailwinds" helped its public portfolio. AdvertisementGains for its Vision Fund 1, a $98.6 billion investment vehicle launched in 2016 with backing from Abu Dhabi and Saudi Arabia's sovereign wealth funds, totaled $3 billion in the second quarter. Despite the investment gain, Vision Fund 2 has lost an overall total of $21 billion since its inception. The results come as SoftBank gears up for a huge investment spree in AI to realize Son's ambitious vision.

Persons: SoftBank, —, Masayoshi, Didi Chuxing, Navneet Govil, Ola, Govil, PayPay Organizations: Service, Funds, Vision, IPOs, Nvidia Locations: Abu Dhabi, Saudi, China, OpenAI, Mexico, India, ByteDance

☆ SoftBank posts blowout quarterly gains at Vision Fund tech arm
▼ + stars: | 2024-11-12 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +4 min

The broader Vision Fund segment as a whole, which also factors in non-investment performance such as administrative expenses and gains and losses attributable to third-party investors, reported a gain of 373.1 billion yen. It had declared a loss of 204.3 billion yen in the company's first fiscal quarter. The Vision Fund has been cashing in on the success of the September 2023 listing of smartphone chip designer Arm Holdings , in which it owns a sweeping majority stake of around 90%. The group's print benefitted from investment gains of 1.28 trillion yen on shares of Chinese retail giant Alibaba and of 566.2 billion yen on stock of T-Mobile. On Tuesday, it said it had repurchased a cumulative 153.8 billion yen in shares by the end of the second quarter.

Persons: Toru Hanai, Didi, Son, Elliott Organizations: SoftBank Corp, SoftBank Group Corp, Bloomberg, Getty, Vision Fund, Arm Holdings, Nvidia, Yahoo, SoftBank, Mobile, Elliott Management, CNBC, Barclays Locations: Tokyo, Japan, Norwegian, Mobile . Tokyo, SoftBank

☆ Three China stocks that analysts are watching for longer-term opportunities
▼ + stars: | 2024-11-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

For many, the reaction among investors only reinforced the need to look at longer-term opportunities in individual stocks that haven't changed. About half of Xpeng's 20,000-plus deliveries in each of the past two months have come from its lower-priced Mona M03 car. In the consumer sector, Macquarie's top pick is Yum China , which operates Pizza Hut and KFC in China. Yum China on Nov. 4 reported third-quarter earnings, showing operating profit grew by 15% year-on-year to $371 million. "You have to be very willing to suffer the negative sentiment to invest in China," Ren said.

Persons: Donald Trump, Shanghair, Liqian Ren, Ren doesn't, Ren, Anta, Fila, CNBC's Michael Bloom Organizations: Finance, U.S, CSI, Adidas, Fila, Baidu, Macquarie, KFC Locations: China, Hong Kong, WisdomTree, U.S

☆ The 2 things that will drive the stock market after last week's Trump-Fed rally
▼ + stars: | 2024-11-10 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

Stock Chart Icon Stock chart icon Performance since Nov. 1 closeThe stock market reaction Wednesday to Republican Donald Trump's victory over Democrat Kamala Harris was swift and powerful, sending the Dow , the S&P 500 and the Nasdaq to all-time highs. For the week, consumer discretionary, energy, industrials, financials, and information technology were the top five sectors. Only time will tell how the balance of power will play out and whether it's good or bad for the stock market. Barring anything catastrophic, President Joe Biden and Vice President Harris will hand Trump the baton of a healthy economy with moderating inflation and a strong stock market. Stock Chart Icon Stock chart icon Disney YTDDisney reports before the bell Thursday, and its experiences business will be in focus as it has softened recently due to the recent hurricane activity that forced closures at Florida theme park locations and inflation-weary consumers.

Persons: Donald Trump, Jerome Powell, Drew Angerer, Republican Donald Trump's, Kamala Harris, Dow, Jim Cramer, Wells Fargo Morgan Stanley, Trump, Joe Biden, Harris, FactSet, Helene, Milton, we're, Disney's, Tyson, JD.com Organizations: Federal, White House, Republican, Dow, Nasdaq, Staples, Honeywell, White, Capitol, Republicans, NBC News, Trump, Depot, Disney, CPI, PPI, Home Depot, Summer, IAC, Hertz, Tyson Foods, TSN, AstraZeneca, Occidental Petroleum, Rocket Companies, Cisco, Parts Locations: Washington ,, financials, Washington, inflect, Florida, Paris

☆ Cramer's week ahead: Earnings from Home Depot, Disney and new CPI data
▼ + stars: | 2024-11-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday identified what to look out for next week on Wall Street, highlighting earnings from Home Depot , Disney and new consumer price index data from the Labor Department. Cramer also reflected on the Trump-fueled market rally over the past few days, saying there are likely more gains to come. Tuesday has more action, with earnings from Home Depot, Shopify , Tyson Foods and Spotify . Because Tyson Foods is a major meat seller, Cramer said investors can learn a lot about grocery pricing from the company's earnings commentary. Cramer added that some believe there's weak demand in the semiconductor capital equipment sector, but he said it's possible an earnings report from Applied Materials could "change that dynamic."

Persons: CNBC's Jim Cramer, Cramer, Tyson, Shopify, he's Organizations: Home Depot, Disney, Labor Department, Trump, Home, Tyson Foods, Spotify, Federal, Cisco Locations: Shopify

☆ Here's why Eli Lilly bounced back, plus mega-caps lag while staples stocks rise
▼ + stars: | 2024-11-08 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Eli Lilly: Shares of Eli Lilly are finally putting together back-to-back sessions of gains. Eli Lilly shares traded at $903 before the quarterly report, putting the post-earnings pullback at about 7%. 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. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.

Persons: Jim Cramer, Donald Trump's, aren't, Eli Lilly, Lilly, David Ricks, Wells, We've, Eli Lilly's, Tyson, Jim Cramer's, Jim, Shelby Knowles Organizations: CNBC, ., Treasury, Companies, Tech, Tesla, Arista Networks, Costco, United States, Disney, Tyson Foods, AstraZeneca, Spotify, Occidental, Cisco, Advance, Materials, Jim Cramer's Charitable, Bloomberg, Getty Locations: China, Wells Fargo, Brooklyn, New York

☆ TSMC is reportedly suspending production of advanced AI chips for Chinese firms
▼ + stars: | 2024-11-08 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

TSMC will stop providing Chinese customers with some of its most advanced AI chips, per reports. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTaiwan Semiconductor Manufacturing Company has informed its Chinese customers that it will stop supplying them with its most advanced artificial intelligence chips, according to multiple reports. The policy is part of a number of sanctions and export controls aimed at restricting Chinese firms' access to advanced technologies in the interests of national security. AdvertisementNews of TSMC suspending production was first reported by Chinese media site ijiwei.com.

Persons: —, TSMC, Biden, Donald Trump Organizations: Service, Taiwan Semiconductor Manufacturing Company, Baidu, Nvidia, Huawei Technologies, US Commerce Department, US, Reuters, Trump Locations: Washington, China

☆ Teen who wowed China in Alibaba math contest got help from teacher, organizers say
▼ + stars: | 2024-11-05 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +2 min

A vocational school student in China who wowed the public in June by finishing near the top in the preliminary round of a math contest was helped by her teacher in violation of the rules, the organizers said this week. An investigation found that the math teacher’s assistance broke a rule of “no discussion with others,” the Alibaba Global Mathematics Competition Organizing Committee said Sunday. For this, we express our sincere apologies,” the organizing committee said. The teacher, Wang Runqiu, also entered the contest and finished 125th in the preliminary round. Damo Academy, the contest organizer, didn’t respond to an email, and a call to the vocational school was unanswered on Tuesday.

Persons: Jiang Ping, Jack Ma, Wang Runqiu, Jiang, Wang, didn’t Organizations: Cambridge, MIT, Caltech, Jiangsu Lianjiang Vocational, Damo Academy Locations: China, China’s Jiangsu, Jiangsu

☆ Chinese driver-assist startup announces $100 million in funding, touts 'deep cooperation' with Nvidia
▼ + stars: | 2024-11-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

David Kirton | ReutersBEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia . The startup is also in "deep cooperation" with Nvidia, Zhou said, noting "in-depth discussions" with the chipmaker's CEO Jensen Huang. Zhou spoke on "Commercializing mass-produced autonomous driving solutions" at Nvidia's closely watched GTC AI conference in March. Those maps, used by autonomous driving companies such as Alphabet's Waymo, give a car a detailed picture of city streets. Chinese autonomous driving software developer WeRide went public on the Nasdaq last month, while robotaxi operator Pony.ai has filed for a U.S. IPO.

Persons: David Kirton, It's, Maxwell Zhou, Zhou, Jensen Huang, Deeproute, Orin, Japan Deeproute, Tesla, Elon, WeRide, Pony.ai Organizations: Reuters, Nvidia, Wall, CNBC, Huawei, Nasdaq, Industry Locations: Shenzhen, Guangdong province, China, Reuters BEIJING, Deeproute, U.S, Japan, California

☆ This bank stock is losing momentum. How to profit from a pullback using options
▼ + stars: | 2024-11-05 | by ( Nishant Pant | ) www.cnbc.com time to read: +3 min

A recent mean reversion trade I shared on Alibaba demonstrated this well when I pointed out that Chinese stocks were due for a pullback. Today, I'm looking at a potential mean reversion trade on JPMorgan (JPM) . I cover many of these setups in my book Mean Reversion Trading . For instance, with JPM trading around $220, I'd set up the trade by purchasing a 225 strike put and simultaneously selling a 220 strike put. -Nishant Pant Founder: https://tradingextremes.com Author: Mean Reversion Trading Youtube, Twitter: @TheMeanTrader DISCLOSURES: (Nishant currently holds a JPM 225-220 put spread expiring on 11/22.)

Persons: Morgan Stanley, Alibaba, I've, I'm, I'd, Nishant Pant Organizations: JPMorgan Chase, JPMorgan, CNBC, NBC UNIVERSAL Locations: Wells Fargo, BlackRock

☆ China's Singles Day shopping festival is more than halfway over. Here's how consumers are spending
▼ + stars: | 2024-11-04 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

China's e-commerce giants stopped reporting Singles Day GMV in 2022 during the pandemic. Singles Day GMV this year as of Oct. 30 was 845 billion yuan ($119.1 billion), according to research firm Syntun. Subsidies boost appliancesHelping boost sales this Singles Day are China's subsidies for trade-ins of home appliances, launched in late July. They predict 4% to 5% growth in Singles Day GMV, with sales in the home appliance category supported by the trade-in program. "Something that kind of came out of nowhere, into all of a sudden really, really big numbers."

Persons: Alibaba, Jacob Cooke, JD's, ByteDance's Douyin, Cooke, Louis Vuitton, we've, UOB Kay Hian, JD.com, Dave Xie, Oliver Wyman, Xie, There's, Liang, Chiikawa, Taobao, Tmall Organizations: Visual China, Getty, Alibaba, Technologies, CNBC, Louis Locations: Lianyungang, Jiangsu Province, China, BEIJING, Asia, Alibaba, British

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