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☆ GM to invest $625 million in joint venture to mine EV battery raw materials in U.S.
▼ + stars: | 2024-10-16 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

General Motors Chair and CEO Mary Barra is shown on screen via livestream as she introduces her digitally delivered keynote address at CES 2022 at The Venetian Las Vegas on January 5, 2022 in Las Vegas, Nevada. DETROIT — General Motors has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to the Canadian mining business, the companies announced Wednesday. The deal is centered on the development, construction and operation of a lithium carbonate mining operation called Thacker Pass in Humboldt County, Nevada. Securing raw materials such as lithium from the U.S. is crucial to GM's plans to profitably grow its all-electric vehicle business to meet tightening federal requirements of the vehicles and the large batteries needed to power them. "Sourcing critical EV raw materials, like lithium, from suppliers in the U.S., is expected to help us manage battery cell costs, deliver value to our customers and investors, and create jobs."

Persons: Mary Barra, Motors, We're, Jeff Morrison Organizations: DETROIT —, Lithium Americas Corp, GM Locations: Vegas, Las Vegas , Nevada, DETROIT, Humboldt County , Nevada, U.S

☆ Embattled Abbott Labs comes through with a strong quarter, buyback announcement
▼ + stars: | 2024-10-16 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Organic sales, which exclude Covid testing, were up 8.2% from the year-ago period. Bottom line In its third quarter, Abbott Labs demonstrated why we wanted to stick with the stock in the face of legal battles that emerged earlier this year and spooked investors. "There's just a lot to like with the Abbott quarter." As Abbott's organic sales growth continues to shine, the market will realize both concerns are overblown. The company reiterated its full-year organic sales growth outlook of 9.5% to 10%.

Persons: ABT, Abbott, Jim Cramer, Dexcom, Robert Ford, Ford, Lingo, —, it's, Edwards, Jim Cramer's, Jim, Ethan Miller Organizations: Abbott Laboratories, Revenue, Abbott Labs, NEC, Abbott, Ford, and Drug Administration, Centers for Disease Control, National Institutes of Health, CNBC, Las Vegas Convention, Getty Locations: U.S, Missouri, Las Vegas , Nevada

☆ Nvidia shares to remain stuck for the rest of the year, says Citi
▼ + stars: | 2024-10-08 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

Citi is expecting Nvidia 's margins to bottom out early next year as its Blackwell platform will take time to fully ramp up. "Fundamentally, we believe AI adoption remains in 3rd/4th innings as enterprise AI demand takes off next with AI agents." Nvidia is expected to ramp up Blackwell production in the fourth quarter of this year, with production continuing into fiscal 2026. But long-term, Nvidia has a strong investment case, according to the analyst. "We expect to see positive ROI data points next year led by GPU as a service providers," he said.

Persons: Blackwell, Atif Malik, Malik Organizations: Citi, Nvidia, CES, Blackwell, GPU

☆ We ranked the latest earnings reports from 30 portfolio stocks from great to ugly
▼ + stars: | 2024-09-14 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The company may have maintained its full-year revenue outlook, but that was taken as good enough after last quarter's debacle. Management also provided a better-than-expected sales, earnings, and recurring revenue outlook. The Good Abbott Laboratories : Sales, earnings and organic growth all exceeded analyst estimates. Broadcom : Sales and earnings outpaced expectations , driven by strong sales of its AI products and VMware software. Alphabet : Delivered largely better-than expected earnings results that showed the search and cloud giant is finally on better footing in the fast-growing AI space.

Persons: we've, Lisa Su, —, Eli Lilly, Zepbound, Stanley Black, Stanley, Morgan Stanley, Procter, Jim Cramer's, Jim Cramer, Jim, Steve Marcus Organizations: Costco, DuPont, Club, Management, Nvidia, Palo Alto Networks, Good Abbott Laboratories, Broadcom, VMware, Wealth Management, Investment Management, Microsoft, Constellation Brands, TJX, Amazon Web Services, Coterra Energy, GE Healthcare, Honeywell, Gamble, Jim Cramer's Charitable, CNBC, AMD Locations: China, Covid, Dover, Eaton, Palo, North America, GEHC, Wells Fargo, Las Vegas , Nevada, U.S

☆ This massive TV folds up like something out of 'Transformers' — and costs as much as a sports car
▼ + stars: | 2024-09-13 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

A luxurious foldable TV from C Seed costs $283,000. The display folds up at multiple points when not in use to better blend into a living room. Go to newsletter preferences Thanks for signing up! AdvertisementFor the millionaire who has a garage full of sports cars, there's now a folding TV that costs just as much as a new vehicle. Enter the C Seed N1, a massive 4K TV that unfolds like a machine in "Transformers" and then folds back up again to become a gleaming metal sculpture when not in use.

Persons: — Organizations: C, CES, Service, expos, Consumer, Business

☆ Elon Musk sued by ex-CNN anchor Don Lemon over canceled X deal
▼ + stars: | 2024-08-01 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

Lemon had "incurred hundreds of thousands of dollars in expenses" in preparing for the show, the lawsuit alleges. Former CNN anchor Don Lemon sued Elon Musk on Thursday, accusing him of making false promises to entice the journalist into a canceled deal to host a show on the billionaire's social media platform. Lemon accuses Musk and X of fraud, negligent misrepresentation, misappropriation of name and likeness, breach of contract, and unjust enrichment. "You're set up for a lot of $$ this year," Weitz allegedly told Lemon in a Dec. 30, 2023, text. "To this day, Defendants have not compensated Lemon pursuant to the exclusive partnership deal that Defendants induced Lemon to enter into," the lawsuit says.

Persons: Musk, Lemon, Don Lemon, Elon Musk, Carney Shegerian, Shegerian, who's, Nikki Haley, Linda Yaccarino, Brett Weitz, " Weitz, Weitz Organizations: CNN, Twitter, CES, SpaceX Locations: San Francisco, New York City, Las Vegas, Lemon

☆ Qualcomm beats estimates and phone chip sales are up 12%
▼ + stars: | 2024-07-31 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fiscal third-quarter earnings on Wednesday that beat Wall Street expectations, particularly for sales, and provided strong guidance for the current quarter. Qualcomm said it expected between $9.5 billion and $10.3 billion in sales in the current quarter, compared to Wall Street expectations of $9.71 billion. Handset sales rose 12% on a year-over-year basis to $5.9 billion in revenue, in line with analyst estimates from StreetAccount, which suggests that a deep slump in smartphone sales over the past two years is abating. Those three hardware lines are reported together as QCT, the company's chip business, which in total reported $8.1 billion in sales, up 12% year-over-year. Qualcomm also collects licensing fees from companies that integrate 5G or other cellular technologies into their products, reported as QTL sales.

Persons: Cristiano Amon, StreetAccount Organizations: Qualcomm, Samsung, Microsoft Locations: Las Vegas , Nevada, U.S, StreetAccount

☆ Airlines are scrambling to fix the unsustainable crisis caused by too many cheap flights
▼ + stars: | 2024-07-18 | by ( Benjamin Zhang | ) www.businessinsider.com time to read: +5 min

Read previewIt may not feel like it, but there are a lot of cheap flights to be had this summer — and the influx of low-priced, often money-losing economy seats has airlines scrambling. "The unprofitable capacity is just not sustainable," United Airlines' chief commercial officer Andrew Nocella told investors Thursday. Low-cost airlines are bearing the brunt of the painDelta CEO Ed Bastian also questioned the long-term financial viability of the business strategy of low-cost carriers during the airline's earnings call last week. Delta CEO Ed Bastian, pictured onstage at CES in 2019, questioned the long-term viability of money-losing low-cost airlines. In addition, Alaska Airlines announced this week that it's retrofitting its Boeing 737 fleet to add 1.3 million first-class and premium economy seats annually.

Persons: —, Andrew Nocella, Scott Kirby, LOGAN CYRUS, Kirby, Nocella, CCO, Ed Bastian, Bastian, Steve Marcus Organizations: Service, United Airlines, Business, Bureau of Labor Statistics, Delta, CES, Reuters Southwest Airlines, Frontier, Polaris, Alaska Airlines, Boeing, Alaska Boeing, American Airlines Locations: Boeing's, Carolina, Alaska

☆ Here's why Abbott Labs stock is getting dinged after a strong earnings beat
▼ + stars: | 2024-07-18 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

As Abbott's organic sales growth continues to shine, the market will realize both concerns are overblown. The FreeStyle Libre itself, which had 20% organic growth in the quarter, also still has plenty of runway for further growth. Investors should focus instead on the upward revision to management's full-year outlook for both top-line organic growth and earnings. The combination of Thursday's strong results and immediate decline in share price is setting up a positive risk vs. reward setup. Within Diagnostics, a small miss in molecular was more than offset by strong results in core laboratory, point of care and rapid diagnostics.

Persons: Abbott, Edwards, Robert Ford, It's, Jim Cramer's, ABT, Jim Cramer, Jim, Robert B, Ford, Ethan Miller Organizations: Abbott Labs, Abbott Laboratories, NEC, Rio, Libre, Management, Diagnostics, Devices, CNBC, Getty Locations: Missouri, Rio —, United States, U.S, Vegas, Las Vegas , Nevada

☆ FDA approves two new Abbott over-the-counter continuous glucose monitors
▼ + stars: | 2024-06-10 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Abbott Laboratories announced Monday it received approval from the U.S. Food and Drug Administration for two new continuous glucose monitoring systems, including one for people who don't have diabetes. A continuous glucose monitor, or a CGM, is a small sensor that pokes through the skin and tracks a person's glucose levels in real time. One of Abbott's new systems, Libre Rio, is for patients with Type 2 diabetes who do not take insulin. Oftentimes, users need a valid CGM prescription to participate in these programs, so Abbott's new over-the-counter offering could be more accessible for some consumers. Abbott competitor Dexcom , which also sells CGM systems, received FDA approval for its first-ever over-the-counter CGM in March.

Persons: Robert B, Ford, Abbott, Abbot, Lingo, Dexcom Organizations: Abbott Laboratories, U.S . Food, Drug Administration, Libre Locations: Vegas, Las Vegas , Nevada, U.S, Libre Rio

☆ Former WWE employee suing Vince McMahon agrees to pause her case pending a federal investigation, lawyer says
▼ + stars: | 2024-05-30 | by ( Chloe Melas | ) www.cnbc.com time to read: +2 min

WWE Chairman and CEO Vince McMahon speaks at a news conference announcing the WWE Network at the 2014 International CES in Las Vegas. Janel Grant, a former employee of World Wrestling Entertainment who in a January lawsuit accused founder Vince McMahon of sex trafficking and abuse, has agreed to temporarily pause her case pending a federal investigation. An attorney for McMahon maintained that the allegations against McMahon were false. WWE and its parent company, TKO , have said that they take Grant's allegations "very seriously." WWE had disclosed last summer that investigators served McMahon with a federal grand jury subpoena and executed a search warrant in July.

Persons: Vince McMahon, Janel Grant, Grant, Ann Callis, McMahon, Jessica Rosenberg, John Laurinaitis, Callis, Laurinaitis Organizations: WWE, WWE Network, World Wrestling Entertainment, NBC News, U.S, Attorney, Southern, of, The Southern, District of Connecticut, World Wrestling Locations: Las Vegas, of New York, U.S

☆ Amazon's Zoox under investigation by NHTSA after two robotaxi crashes
▼ + stars: | 2024-05-13 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +2 min

U.S. safety regulators have opened a probe into Amazon -owned robotaxi venture Zoox after two of its autonomous SUVs braked suddenly and were rear-ended by motorcyclists. In both cases, motorcyclists collided into the Zoox vehicles, which led to minor injuries. NHTSA said it confirmed each of the Zoox cars were operating in autonomous mode when the incidents occurred. Both of the collisions took place during the daytime and within the operational design limits of Zoox's autonomous system. Last March, the agency said it would investigate Zoox's self-certification in 2022 that its robotaxi met federal safety standards.

Persons: braked, Zoox Organizations: Toyota, Amazon.com, Consumer Electronics, Traffic Safety Administration, Toyota Highlanders, NHTSA, Amazon Locations: Las Vegas , Nevada, crosswalks, Zoox, Foster City , California

☆ Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones
▼ + stars: | 2024-05-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported second-quarter earnings on Wednesday that surpassed Wall Street expectations, and provided a strong guide for the current quarter. Qualcomm said it expected between $8.8 billion and $9.6 billion in sales in the current quarter, higher than Wall Street expectations of $9.05 billion. Analysts were looking for earnings guidance of $2.17 per share, versus the company's forecast of between $2.15 and $2.35. Qualcomm called out strong demand for "premium tier" smartphones that require the most advanced chips, especially in China. Qualcomm said that revenue from Chinese phone makers increased 40% on an annual basis during the quarter.

Persons: Cristiano Amon, Amon, — Organizations: Qualcomm Locations: Las Vegas , Nevada, iPhones, China

☆ AMD's data center business grew 80% but the stock is down
▼ + stars: | 2024-04-30 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

AMD reported first-quarter earnings and sales on Tuesday that were slightly ahead of Wall Street expectations, and provided an in-line forecast for the current quarter. AMD said its closely-watched Data Center segment grew 80% on a year-over-year basis to $2.3 billion thanks to sales of its MI300 AI chip, which competes with Nvidia's AI graphics processors. AMD said it had sold over $1 billion of the AI chips since it launched in the fourth quarter of 2023. AMD also makes central processors which are often paired with advanced AI chips in servers. AMD reported $1.4 billion in first-quarter sales, a 85% annual increase, suggesting that last year's PC slump is over.

Persons: Lisa Su, Su Organizations: AMD, Wall, Revenue, Intel Locations: Las Vegas , Nevada, U.S

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ A global scramble to make humanoid robots is gearing up to be the 21st century's space race
▼ + stars: | 2024-03-30 | by ( Joshua Zitser | Jyoti Mann | ) www.businessinsider.com time to read: +11 min

Humanoid robots are symbols of power and technological capability, a geopolitics expert says. An incident earlier this month involving a Saudi humanoid robot inappropriately touching a female reporter might not at first seem even remotely connected. AdvertisementHumanoids are visual representations of breakthroughs in AIIn Italy, the Istituto Italiano di Tecnologia is working on iCub, a research-grade humanoid robot. AdvertisementChina wants to take the leadWhen it comes to humanoid robots, China is vying for the top spot, so it's no wonder other nations are getting nervous. "The vast magnitude of the market offers an unmatched chance to test, improve, and expand the uses of humanoid robots," he said.

Persons: —, Neil Armstrong's, Muhammad, Elie Metri, Giorgio Metta, Metta, there's, Zen Koh, Koh, Peggy Johnson, Johnson, it's, David Becker, OpenAI, Mercedes, Tesla, Julian Mueller, Kaler, Mueller, Tang Ke, Li Boyang, Will Jackson, Johannes Simon, you've, Jackson, we're, Gartner, Nvidia's, Melonee Wise, Justin Sullivan, Metri Organizations: Service, Robotics, QSS Robotics, Muhammad, Istituto, Tecnologia, European Union, Ministry of Industry, Information Technology, Fourier Intelligence, Getty, BMW, Strategic Foresight, Stimson, TIME, Beijing, Conference, Boston Dynamics, Arts, Engineered Arts, GTC, Getty Images Saudi Locations: China, Saudi Arabia, Italy, Soviet Union, Saudi, DeepFest, Riyadh, Robotics Saudi Arabia, India, Nigeria, Shanghai, Oregon, Las Vegas, Texas, Beijing, China's Liaoning Province, San Jose , California, Getty Images Saudi Arabia, QSS, Europe

☆ It might be time to rethink the smartphone — for real this time
▼ + stars: | 2024-03-14 | by ( Hugh Langley | ) www.businessinsider.com time to read: +5 min

Why do phones need apps? At this year's Mobile World Congress, the future of the smartphone and how we connect were firmly under the microscope. Deutsche Telekom and Brain.ai demoed one such instance at MWC: a smartphone with no apps. It's just an idea for now, but it's prompting an interesting question: Why assume the smartphone of the future has apps at all? But the smartphone industry is slumping, and there's a "need to invigorate the upgrade cycle," Milanesi told BI.

Persons: —, Sam Altman, There's, Altman, Jony, Meta's Mark Zuckerberg, Carolina Milanesi, Milanesi, Tom Butler, I'm, Butler, Lenovo's Butler, it's Organizations: Service, Congress, MWC, Las, CES, Deutsche Telekom, Brain.ai, Qualcomm, Bloomberg Locations: Carolina, PAU, AFP

☆ The cybercrime underworld has removed all the guardrails on the AI frontier, but the good guys are catching them there
▼ + stars: | 2024-03-11 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

More than half (55%) of all brand impersonation instances consisted of organizations' own brands in 2023, according to the Perception Point report. Tal Zamir, chief technology officer at Perception Point, discussed how criminals can now create polymorphic malware (or malware with many variations) at scale using AI and automation. Plus, they can defend against a wider swath of problems by feeding data into their existing models or generating new data sets using AI. Still, Grobman compares AI detection to weather forecasting, saying "When you're working in the world of AI, things are a lot less deterministic." Just as legitimate businesses are looking to AI to be more productive and more effective, so too are cybercriminals.

Persons: Taylor Swift, Steve Grobman, Tal Zamir, Zamir, Grobman, Kiri Addison, Addison, McAfee, recalibrated Organizations: Hong, McAfee, Google Locations: Hong Kong, deepfakes

☆ AI-powered devices could drastically change how we interact with technology. But will they catch on?
▼ + stars: | 2024-03-01 | by ( Samantha Stokes | Vishal Persaud | ) www.businessinsider.com time to read: +5 min

"The key isn't hardware but the user experience it enables," Khosla, whose firm Khosla Ventures, is an investor in Rabbit, told Business Insider in an email. This story is available exclusively to Business Insider subscribers. At the same time, I don't think the average consumer wants to carry around multiple devices," S. Somasegar, a managing director at Madrona, told Business Insider. That's where we're at," he told Business Insider. Ginsberg said he's excited about the Humnane Pin because AI voice assistants have finally become powerful enough to be useful for average consumers.

Persons: Vinod Khosla, Khosla, Navin Chaddha, Ai, Somasegar, Bernstein, Nielsen, Zachary Ginsburg, Ginsberg, Marc Benioff, Sam Altman, Lachy Groom, Avi Schiffmann, it's, Chaddha Organizations: Khosla Ventures, Software, Business, Mayfield, Microsoft, Calm Ventures, Bond Ventures, Forerunner Ventures, Harvard Locations: Humane's

As video game worlds get more expansive, some game studios are experimenting with AI tools to give voice to a potentially unlimited number of characters and conversations. Some fear that AI voices could replace all but the most famous human actors if big studios have their way. SAG-AFTRA has already made a deal with one AI voice company, Replica Studios, announced last month at the CES gadget show in Las Vegas. It sets terms that also allow performers to opt out of having their voices used in perpetuity. We’re not replacing actors.”It was Replica Studios that first reached out to Magee about a voice-over audio clip he had created demonstrating a Scottish accent.

Persons: Andy Magee, Magee, aren't, ”, they've, Joe Biden, Anthony Bourdain —, —, Sarah Elmaleh, “ We’ve, Elmaleh, ” Elmaleh, AFTRA, Fran Drescher, Shreyas Nivas, Nivas, “, Zeke Alton, hasn't, Alton, ” Alton Organizations: Screen, American Federation of Television, Radio Artists, SAG, Studios, CES Locations: Scottish, Northern Ireland, British, U.S, Fortnite, Las Vegas, Vancouver , British Columbia

☆ Chrysler reveals new Halcyon concept car as direction for future EVs
▼ + stars: | 2024-02-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +3 min

The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. The Chrysler Halcyon concept car. StellantisAutomakers routinely use concept vehicles to gauge customer interest or show the future direction of a vehicle or brand. The Halcyon concept car boasts "harmony in motion" and sustainability principles, according to several officials.

Persons: Christine Feuell, we've, Feuell, Stellantis Organizations: Chrysler, DETROIT, Chrysler Pacifica, Stellantis, Fiat Chrysler, French, PSA, —, CES Locations: U.S, Canada

☆ Russia's Wagner Group expands into Africa's Sahel with a new brand
▼ + stars: | 2024-02-12 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Natalia Kolesnikova | Afp | Getty ImagesWagner Group has been replaced by a new entity known as Russia's Africa Corps across its key strongholds in the continent, its new leader has confirmed. The new entity has been subsuming operations in Mali and Libya for several months, and negotiations to establish a Russian military base in the CAR are reportedly underway. watch now"The Africa Corps consists of mercenaries and volunteers, and does not form part of the Russian Armed Forces. It began recruiting in December 2023, and has also included job offers for former Wagner Group mercenaries; it may also recruit local residents," they explained. Russian Deputy Defense Minister Yunus-bek Yevkurov oversaw the creation of the Africa Corps, which is expected to be fully completed by this summer.

Persons: Wagner, Yevgeny Prigozhin, Natalia Kolesnikova, Dmitry Utkin, Anton Yelizarov, Ibrahim Traoré, Piotr Żochowski, Miłosz Bartosiewicz, Yunus, bek Yevkurov, Yevkurov Organizations: Afp, Getty, Wagner, Africa Corps, Central African, Russian National Guard, Russian Federation, Telegram, Centre, Eastern Studies, CAR, Africa, Russian Armed Forces, Wagner Group, CES Locations: MOSCOW, Moscow, Central African Republic, Libya, Mali, Sudan, Burkina Faso, Belarus, Russia, Cossack, Sahel, Russian, Warsaw, Algeria, Africa, Ouagadougou

☆ Arm's post-earnings pop leaves stock trading at over 100% premium to Nvidia
▼ + stars: | 2024-02-08 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

That agreement would have involved selling Arm for $40 billion, or just $8 billion more than SoftBank paid in 2016. Instead, Arm went public last year, and the company is now worth over $116 billion after the stock soared 48% on Thursday. SoftBank still owns roughly 90% of the outstanding stock, meaning its stake in Arm increased by over $34 billion in a day. watch nowChipmakers Nvidia and AMD have been Wall Street darlings of late due to their central position in the artificial intelligence boom. 'Gain market share'Arm has a different business model than Nvidia and AMD in that it's largely a technology licensing company.

Persons: Jakub Porzycki, Arm, SoftBank, Lisa Su, Steve Marcus Organizations: Nurphoto, Nvidia, AMD, Intel, Qualcomm Locations: SoftBank, Las Vegas , Nevada, U.S

☆ A Goldilocks economy could be coming, but a key piece of the puzzle remains elusive
▼ + stars: | 2024-02-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at why investors are eyeing an even better outcome for the market than a soft landing . The big storyMarket's sweet spotPiotr PowietrzynskiForget about a soft landing, some market watchers want something just right. For months, investors hoped the Fed's tightening policy would culminate in a soft landing: lowering inflation while avoiding a full-blown recession. But why settle for a soft landing when you can get it all? Liu Jie/Xinhua via Getty ImagesA Goldilocks economy still hinges on the Fed cutting rates, which has proved fleeting for investors.

Persons: —, hasn't, Piotr Powietrzynski Forget, Matthew Fox, Solita, Marcelli, Jerome Powell, Liu Jie, we'll, Powell, Banks, Kenneth Rogoff, Jensen Huang, Rick Wilking, Goldman, Goldman Sachs, Savita Subramanian, Gen, Jenny Chang, Rodriguez, Fintechs, VCs, Sam Altman, Altman, didn't, Scott Winters, Alyssa Powell, Travis Kelce, Experian, It's, EVs, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Service, Apple, Business, Getty, Bank of America, Harvard, Nvidia, CES, Kansas City Chiefs, US Treasury, New York Times, UBS, FAA, Boeing, Max Locations: Americas, Washington ,, Xinhua, Jensen, Las Vegas , Nevada, U.S, China, New York, London

☆ Qualcomm earnings beat estimates as smartphone chip sales suggest recovery
▼ + stars: | 2024-01-31 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fiscal first-quarter results on Wednesday that topped analysts' estimates as sales of handset chips jumped 16% from a year earlier. Consensus expectations, according to LSEG, were for earnings of $2.25 per share on $9.3 billion of revenue. Qualcomm is best-known for making smartphone chips — both the modems that connect them to cellular networks, as well as the processors at the heart of high-end Android devices. QCT, the company's chip sales business that includes automotive, Internet of Things and handsets, totaled $8.42 billion in revenue during the quarter, up 7% on an annual basis. Qualcomm said it spent $800 million in share repurchases and $900 million on dividends during the quarter.

Persons: Cristiano Amon, it's, Amon Organizations: Qualcomm, Galaxy, Apple Locations: Las Vegas , Nevada, QCT

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