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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
She, like 2,000 other state residents, is awaiting approval for aid through a community advocacy program. Resumed funding for LIHEAP is dependent on an appropriations bill used to fund the government. “We had calls during our latest heat wave, and our agencies just don’t have the LIHEAP funding,” Sarensen said. Unlike those so-called entitlements, LIHEAP funding can be depleted without helping everyone who qualifies. Neither Vice President Kamala Harris nor former President Donald Trump has mentioned direct utility or weatherization aid in their campaigns for the White House.
Persons: Cathy McCorkle, she’s, , , won’t, Mark Wolfe, “ There’s, Wolfe, LIHEAP, Bridget Bennett, Brian Sarensen, Sarensen, ” Sarensen, That’s, “ It’s, Stephanie Ashley, We’ve, Ashley, “ We’ve, We’re, we’re, ” “, Kamala Harris, Donald Trump, Karen Lusson Organizations: U.S, Low Income, Energy Assistance, National Energy Assistance, Association, Center for Energy, Opera, Washington, Getty Images, Commerce Department, Law, SNAP, Washington , D.C, House Republicans, White, U.S . Treasury Department, National Consumer Law Locations: Mount Holly , North Carolina, San Diego, Death Valley, Calif, Washington, Phoenix, Oregon, North Carolina, Washington ,
Read previewThe US is moving toward a recession, as the economy is feeling the comedown after trillions of "unproductive" cash was pumped in during the pandemic, according to former Commerce Secretary Wilbur Ross. AdvertisementBut most of the stimulus cash wasn't deployed productively, Ross said, pointing to Americans who "immediately spent" their checks in a wild shopping spree. Related storiesStrength in the labor market was also partly distorted by stimulus cash, he suggested. Hiring has steadily slowed over the past year, with the unemployment rate triggering one long-running recession indicator with a perfect track record. Most economists still agree that the economy remains on solid footing, given the rapid pace of growth and historically low unemployment rate.
Persons: , Wilbur Ross, Trump, Ross Organizations: Service, Commerce, Bloomberg, Business, Conference, Investor
Oracle — The stock rose nearly 2% after the database software company raised its fiscal 2026 revenue outlook . Uber — Shares of the ride-sharing company advanced more than 5% following news that it plans to expand its partnership with Alphabet's Waymo . Adobe — Shares tumbled 9% after the software company issued weaker-than-expected guidance for the current quarter. Unity Software — Shares of the game engine company added nearly 7%. Discovery — Shares advanced about 9% after the media conglomerate entered an early renewal agreement with Charter Communications.
Persons: Kevin Clark, RH —, Gary Friedman, Alphabet's Waymo, Uber, Stifel, Biden, David Zaslav, , Jesse Pound, Sean Conlon, Samantha Subin, Hakyung Kim Organizations: JPMorgan, Oracle, Aptiv, — Stock, Adobe, Boeing, Unity, Holdings, PDD Holdings, Redfin Corporation, Federal Reserve, U.S, Home, Warner Bros, , Charter Communications, Discovery Locations: U.S, Austin , Texas, Atlanta, China
Carnegie Director of Research: like e-commerce, energy stocks
  + stars: | 2024-09-13 | 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 EmailCarnegie Director of Research: like e-commerce, energy stocksGreg Halter, director of research at Carnegie Investment Counsel, gives his top picks in the e-commerce, retail, and energy sectors. He focuses on investing in solid companies with good valuations for the long term.
Organizations: Carnegie, of Research, Carnegie Investment
CNBC's Jim Cramer on Friday guided investors through next week's top Wall Street action, highlighting a long-awaited interest rate decision from the Federal Reserve and earnings from restaurant chain companies Darden and Cracker Barrel. Investors are broadly expecting the central bank to issue a rate cut but are unsure whether it will be by 25 or 50 basis points. Cramer said he's betting on the former, saying he thinks the Fed should be measured when making cuts and not risk an inflation flareup. He added that he thinks the stock is a bargain, but cautioned that Wall Street tends to sell stocks from that sector when the Fed cuts rates. On Thursday, Olive Garden-parent Darden , Cracker Barrel and FedEx are set to report.
Persons: CNBC's Jim Cramer, Cramer, There's, he'll, Mills, Olive Organizations: Federal Reserve, Darden, Fed, Commerce Department, FedEx
In this article BABA Follow your favorite stocks CREATE FREE ACCOUNTThe logo of Alibaba's e-commerce app Taobao is displayed next to mobile phones displaying the app, in this illustration picture taken October 25, 2023. Reuters | Florence LoSingapore — Chinese e-commerce giant Alibaba 's Taobao shopping app topped the Apple App Store charts in Singapore after releasing an English version on Tuesday — thanks to translations powered by artificial intelligence. That's according to Sensor Tower, a market intelligence firm whose data shows Taobao shot to first place in Apple's Singapore App Store across all categories, as of Sept. 11. As early as last year, Singaporean Taobao users had previously made guides on how to purchase clothes, furniture and lifestyle items from Taobao. These video guides were posted on the ByteDance-owned TikTok platform, another Chinese app.
Persons: Florence Lo, Alibaba, Bain, David Zehner Organizations: Reuters, Company, Asia, South Korean, Bain, CNBC Locations: Florence, Florence Lo Singapore, Singapore, Apple's Singapore, China, AliExpress, Malaysia, Asia Pacific, Singapore's
An employee of Amazon India walks toward a security gate at the company's newly launched fulfillment center on the outskirts of Bangalore. An Indian antitrust investigation has found U.S. e-commerce giant Amazon and Walmart's Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, according to reports seen by Reuters. The Competition Commission of India in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements and giving priority to certain listings. Amazon and Flipkart, as well as the CCI, did not immediately respond to Reuters' request for comment. The two companies will now review the report and file any objections before CCI staff decide on any potential fines.
Persons: Flipkart Organizations: Amazon, Reuters, The, of Locations: Amazon India, Bangalore, of India
A banner plays up China's trade-in policy at a home goods expo in Qingdao, Shandong province, China, on June 1, 2024. Nurphoto | Nurphoto | Getty ImagesBEIJING — China's plan to boost consumption by encouraging trade-ins has yet to show significant results, several businesses told CNBC. Analysts are not overly optimistic about the extent to which the trade-in program could support retail sales. China's retail sales for August are due Saturday morning. Retail sales in June rose by 2%, the slowest since the Covid-19 pandemic, while July sales growth saw a modest improvement at 2.7%.
Persons: Jens Eskelund, Tao Wang, Sally Loh, Otis, Kone, We've, Ilkka Hara, Hara Organizations: Nurphoto, Getty, BEIJING, CNBC, EU Chamber of Commerce, UBS Investment Bank, China, U.S, Otis Locations: Qingdao, Shandong province, China, Greater China
From e-commerce firm Amazon to pharmaceutical giant Eli Lilly , Morgan Stanley's top stocks to own for the next 12 months spans a wide array of sectors. The majority of Morgan Stanley's picks are tilted toward growth, with 67% of the picks meeting that classification. Here's a look at some of the stocks that Morgan Stanley says are worth owning over the next year. Amazon stock has added 23% in 2024. LLY YTD mountain Eli Lilly stock.
Persons: Eli Lilly, Morgan, Morgan Stanley's, Morgan Stanley, Brian Nowak's, Nowak, Terence Flynn's, Eli Lilly's, LLY, Flynn Organizations: Nasdaq, Dow Jones, Amazon, Pharma
U.S. firms say confidence in China has hit an all-time low
  + stars: | 2024-09-13 | by ( Dylan Butts | ) www.cnbc.com   time to read: +4 min
American companies in China are experiencing historically low business confidence and poor profits amid U.S.-China tensions and a slowing Chinese economy. Firms have also lost market share to Chinese competitors which have received more government support, the U.S.-China Business Council added. Their struggles in China have also been felt by EU businesses, according to an EU Chamber of Commerce in China report released on Wednesday. On how the U.S. government could support their firms in China, nearly half of AmCham respondents suggested a reduction of tariffs on Chinese goods. Foreign direct investment into China fell by 29.6% during the January to July period compared to a year ago, according to China's Ministry of Commerce.
Persons: Allan Gabor, Jeff Yuan, Evelyn Cheng Organizations: U.S, American Chamber of Commerce, U.S ., China Business Council, China Business, EU, of Commerce, China's Ministry of Commerce Locations: Shanghai, American, China, Washington, Beijing, U.S, PwC China
The company is turning to Commerce Secretary Gina Raimondo for help. In a recent meeting with Raimondo, Intel CEO Pat Gelsinger voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing , the world's largest contract chipmaker. Intel is currently building out plants in four U.S. states as it seeks to become more of a foundry business, manufacturing chips for other suppliers. It's an increasingly important initiative for Intel, which is getting trounced in the market for microprocessors. Concerns have been rising for years that China could invade Taiwan, creating a massive risk for the U.S. chip industry.
Persons: Gina Raimondo, Joe Biden, Raimondo, Pat Gelsinger, chipmaker, Biden, It's, David Zinsner, Zinsner, Jensen Huang, Goldman Sachs, Huang, David Solomon Organizations: Semiconductors, America, White, Intel, U.S, Taiwan Semiconductor Manufacturing, Nvidia, Apple, CNBC disbursements, Devices, U.S . Commerce Department, AMD, Google, Broadcom Locations: U.S, Taiwan, Arizona, China
Read previewTanking share prices, excess stock flooding outlets, a slowdown in once-reliable China: 2024 has been a tough year for luxury brands. AdvertisementTo find relief from high luxury prices, those consumers are turning to midlevel brands like clothing store Zara and jewelry brand Pandora, which are thriving. "It is acceptable for people to buy accessories with luxury brands and then buy apparel at Zara." Advertisement"With these other product ranges apart from charms, they think they are benefiting from the downtrading of consumers," Sokolova said. The trick for both Zara and Pandora will be maintaining their appeal when aspirational consumers can once again spend on luxury.
Persons: , Gucci, Claire Tassin, Tassin, Levato, Kering, Louis Vuitton, LVMH, TK, Jelena Sokolova, Michael Kors, Zara, Pandora, it's, Sokolova, It's, Pamela Anderson, Tiffany Organizations: Service, Business, Morning, Brands, Bain & Company, Gucci, Morningstar, Cartier Locations: China, Spanish, Danish, Paris, Morocco, Portugal, Turkey, Europe, Zara
The startup, Cavela, launched from stealth today with $2 million in seed funding, Business Insider has learned. This story is available exclusively to Business Insider subscribers. The process becomes even more time-consuming as companies speak with multiple suppliers in order to find the best partner to complete a specific project. Sardain's family works in manufacturing, and he grew up living in multiple manufacturing hubs across Asia and Latin America, including Malaysia, Hong Kong, Thailand, Singapore, and Mexico. For Cavela, the startup closed its $2 million seed round without using a traditional pitch deck.
Persons: , Anthony Sardain, Sardain, we've Organizations: Service, Business, XYZ Ventures, Ventures, Go Global Ventures, Tierra, Google, Bright Machines Locations: Asia, Latin America, Malaysia, Hong Kong, Thailand, Singapore, Mexico, America, San Francisco, Fransisco
Microsoft told employees on Thursday that it has hired Carolina Dybeck Happe as its executive vice president and chief operations officer, reporting to CEO Satya Nadella. Dybeck Happe comes from GE, where she was senior vice president and chief financial officer from 2020 until September 2023. She will join Microsoft's senior leadership team alongside finance chief Amy Hood, cloud and AI engineering leader Scott Guthrie and other executives. GE CEO Larry Culp called Dybeck Happe "a high-impact executive" when GE announced in 2019 that it had picked Dybeck Happe to replace Jamie Miller as chief financial officer. Before that, she spent almost 17 years at Swedish lock company Assa Abloy, where she became chief financial officer and deputy CEO.
Persons: Carolina Dybeck, Satya Nadella, Dybeck Happe, Microsoft's, Amy Hood, Scott Guthrie, Nadella, Dybeck, Rajesh Jha, Larry Culp, Jamie Miller, Kevin Turner, Gene Munster Organizations: Microsoft, GE, Microsoft Digital IT, Microsoft Business Operations, GE Aerospace, GE Vernova, New York Stock Exchange, Maersk, Walmart Locations: Carolina, Swedish
Leaders at OpenAI, Anthropic, Microsoft , Google and several American power and utility companies met Thursday at the White House to discuss the future of artificial intelligence energy infrastructure in the U.S., sources familiar with the meeting told CNBC. An OpenAI spokesperson told CNBC that the company believes building additional infrastructure in the U.S. is critical to the country's industrial policy and economic future. by ensuring data-centers are built in the United States while ensuring the technology is developed responsibly," White House spokesperson Robyn Patterson told CNBC. White House chief of staff Jeff Zients and White House deputy chief of staff Bruce Reed also attended, according to a source. Anthropic counts Amazon as a leading investor, while OpenAI is heavily backed by Microsoft.
Persons: Sam Altman, Dario Amodei, Ruth Porat, OpenAI, Biden, Harris, Joe, Kamala, Robyn Patterson, Gina Raimondo, Jennifer Granholm, Jake Sullivan, Ali Zaidi, Kristine Lucius, John Podesta, Jeff Zients, Bruce Reed, Anthropic, government's Organizations: Microsoft, Google, White, CNBC, CNN, U.S . National, White House, AI Safety, Department of Commerce, National Institute of Standards, Technology, Biden Locations: U.S, America, Wisconsin , California , Texas, Pennsylvania, A.I, United States
It's been a topsy-turvy stock market since the Club's August Monthly Meeting. These were two of our top performers since the August Monthly Meeting. The stock closed nearly 5% higher on the eve of the September Monthly Meeting. The S & P 500's health care sector is up 2.2% since the August Monthly Meeting, slightly outperforming the broad index's 1.8% rise in that timeframe. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: It's, We've, Eli Lilly, Estee Lauder, Jerome Powell, it's, DA Davidson, Goldman Sachs, Goldman, Andy Jassy's, TJX, Jensen Huang, Abbott, Jim Cramer's, Jim Cramer, Jim, Brendan Mcdermid Organizations: Dow Jones Industrial, Nasdaq, Investor, Federal, Procter, Gamble, Dover, Abbott Laboratories, TJX, Amazon, Micro Devices, Jackson, Bank of America, Telsey Advisory Group, JPMorgan, Oracle, Devices, AMD, Nvidia, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange Locations: seesaw, Wednesday's, U.S
New York CNN —It’s easy to dismiss many presidential candidates’ campaign promises as empty, because Congress would need to approve them. Alex Durante, an economist at the Tax Foundation, a right-leaning think tank, told CNN that 100% tariffs would threaten the economy. It’s possible he is floating 100% tariffs as just a threat designed to change the behavior of other countries. ‘No question it’s inflationary’The Trump campaign did not provide an explanation to CNN about how Trump would implement 100% tariffs nor what the trigger would be. He said Trump’s tariff plan, if enacted, would risk setting off a market panic like former UK Prime Minister Liz Truss did in 2022.
Persons: New York CNN —, Donald Trump, Trump, ” Trump, , you’re, ” Maury Obstfeld, Obstfeld, ” Obstfeld, Christine McDaniel, George W, Bush, , McDaniel, George Mason University’s, Alex Durante, ” Durante, Brian Hughes, ” Hughes, , Harris, Kamala Harris, ” Kent Smetters, Smetters, Wharton “, it’s, ” Wharton, Liz, Joe Brusuelas, ” “ I’m, Joe Biden, Biden, Brusuelas, Liz Truss, Matt Priest, Trump’s Organizations: New, New York CNN, Peterson Institute for International Economics, CNN, International Monetary Fund, Trump, United States Trade Representative, Commerce Department, Tax Foundation, University of Pennsylvania’s Wharton School, Penn Wharton Budget, Wharton, ABC, RSM, Democratic, Footwear Distributors, Retailers of America Locations: New York, Wisconsin, United States, China, Russia, , American
The meeting, which hasn’t been previously reported, is the first time senior White House officials will sit down with tech company leadership to discuss how to quench AI’s insatiable thirst for energy. The source said the White House expects to detail how the public and private sector can work together to maintain US leadership in AI in a sustainable way. AI is expected to spark a 160% surge in power demand from data centers by 2030, according to Goldman Sachs. Exowatt just launched a new system that can generate and store clean energy to AI data centers. Other US officials expected to attend Thursday’s AI power meeting include White House Chief of Staff Jeff Zients, National Economic Adviser Lael Brainard, National Security Adviser Jake Sullivan and top climate officials Ali Zaidi and John Podesta.
Persons: Sam Altman, Ruth Porat, Dario Amodei, hasn’t, Jennifer Granholm, Gina Raimondo, Harris, Joe Biden, Kamala Harris, Biden, Goldman Sachs, Altman, , ” Altman, , Robyn Patterson, Jeff Zients, Lael Brainard, Jake Sullivan, Ali Zaidi, John Podesta, Oprah Winfrey, Bill Gates Organizations: CNN, White, Google, White House, Wall, . Energy, Biden, Microsoft, International Energy Agency, Washington Post, United, , National Economic, National, ABC Locations: America, Washington, United States, Exowatt
Generative AI includes applications like OpenAI's ChatGPT, which has the ability to generate text, images and even video based on user prompts. These applications are powered by large AI models which are trained on huge amounts of data, such as Google's Gemini. Chinese technology firms have had to tread carefully in releasing their technology as Beijing has strict requirements for AI models and their uses. CNBC runs through the big Chinese AI models developed by the country's biggest tech firms. It has created a number of AI models aimed at customers in specific industries including government, finance, manufacturing, mining, and meteorology.
Persons: catchup, ERNIE Baidu, Ernie Bot, OpenAI's, Baidu, Ernie, Alibaba, Qianwen, Tencent, Hunyuan, Doubao Organizations: Istock, Getty, U.S, CNBC, Baidu, Huawei, Pangu Huawei Locations: China, Alibaba, U.S . China, Beijing
SKIP AHEAD How I picked the best backpacks for college students | The best backpacks for college students | How to shop for a backpack as a college student | Why trust NBC Select? How I picked the best backpacks for college studentsThere are several factors to consider when looking for a backpack if you’re a college student. Padding and ergonomics: Both of our experts, chiropractor Dr. Matt Cavanaugh and ergonomics expert Kevin Costello, said that padded wide shoulder straps are essential for college students looking to prioritize comfort. It comes with both shoulder straps and two leather loops on top that you can fasten with the metal button. It has a flexible water bottle pocket on the side, a trolley sleeve, a 17-inch laptop sleeve and breathable padding on the back to reduce sweating.
Persons: you’re, chiropractor Dr, Matt Cavanaugh, Kevin Costello, Costello, , , It’s, Alo Stow, Alo, Calpak Kaya, Nikki Brown, she’s, it’s, Jordan Bowman, “ I've, Orvis, I've, Josh Rios, Rios, I’ve, Beckmann, Lauren Swanson, Herschel, ” Alan Hedge, Matthew Cavnugh, Alan Hedge, TikTok Organizations: NBC, Adidas, America, Cornell Institute for Healthy Futures, Cavanaugh Chiropractic, Cornell University’s College of Human, Facebook, Twitter Locations: Herschel, United States, Lafayette , Louisiana
Former commerce secretary: Harris is not anti-business
  + stars: | 2024-09-11 | 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 EmailFormer commerce secretary: Harris is not anti-businessPenny Pritzker, former secretary of commerce and founder and chairman of PSP Partners, joins CNBC's 'Money Movers' to discuss how VP Kamala Harris can fight the perception that inflation soared during the Biden administration, how Harvard is combatting antisemitism on campus, and more.
Persons: Harris, Penny Pritzker, Kamala Harris, Biden Organizations: Former, PSP Partners, Harvard
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU Chamber of Commerce in China discusses China-EU ties amid EV tariff disputeJens Eskelund, president of the chamber, weighs in on EU-China trade tensions.
Persons: Jens Eskelund Organizations: EU, of Commerce Locations: China
In recent years wildfires have regularly burned in and around Wrightwood, a picturesque mountain town 60 miles east of Los Angeles known for its 1930s cabins. In neighboring Orange County, firefighters used bulldozers, helicopters and planes to control a rapidly spreading blaze called the Airport Fire that started Monday and spread to about 3 square miles in only a few hours. Concialdi said the fire was burning away from homes in Orange County, but there are 36 recreational cabins in the area. Residents along the southern edge of Big Bear Lake were told to leave the area Tuesday night, according to the San Bernardino County Sheriff’s Department. The blaze had charred more than 51 square miles of grass and brush and blanketed the area with a thick cloud of dark smoke.
Persons: Big Bear, Robert Luna, Janice Quick, texted, Quick, “ I’ve, I’ve, , Steve Concialdi, Concialdi, Sherri Fankhauser, Fankhauser, ” Fankhauser, “ It’s, Davis, Joe Lombardo, Charles Moore Organizations: Chamber of Commerce, Orange County Fire, San Bernardino National Forest, Residents, San, San Bernardino County Sheriff’s Department, Nevada Gov, Sunday, National Weather Service, Truckee Meadows Fire Locations: , California, Los Angeles, Big, Wrightwood, Los Angeles County, Orange County, Riverside County, San Bernardino County, Northern California, Clearlake City, San Francisco, Idaho , Oregon, Nevada, Reno, Davis, Washoe, Washoe County, Truckee Meadows
Read previewGwyneth Paltrow is thinking about what she didn't know when she founded Goop. Gwyneth Paltrow speaks at the Forbes Power Women's Summit 2024. Paltrow said she became more successful when she let go of her "shame" about what she didn't know. In her conversation with Forbes, Paltrow touched on the brand's ever-evolving strategy, saying that "intention" keeps Goop centered. "We've been through a lot," Paltrow said.
Persons: , Gwyneth Paltrow, Forbes, Paltrow, Moira Forbes, Goop, Amanda Krause, I'm, Nobody's, We've, we've, we're Organizations: Service, Power Women's, Business, Forbes Power Women's Locations: New York
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