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☆ Alphabet shares slide 6% following DOJ push for Google to divest Chrome
▼ + stars: | 2024-11-21 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

Alphabet shares slid 6% Thursday, following news that the Department of Justice is calling for Google to divest its Chrome browser to put an end to its search monopoly. The proposed break-up would, according to the DOJ in its Wednesday filing, "permanently stop Google's control of this critical search access point and allow rival search engines the ability to access the browser that for many users is a gateway to the internet." This development is the latest in a years-long, bipartisan antitrust case that found in an August ruling that the search giant held an illegal monopoly in both search and text advertising, violating Section 2 of the Sherman Act. The potential break-up would include preventing Google from entering into exclusionary agreements with competitors like Apple and Samsung, part of a set of remedies that would last 10 years. CNBC's Jennifer Elias contributed to this report.

Persons: Sherman, CNBC's Jennifer Elias Organizations: Department of Justice, Google, DOJ, Apple, Samsung

☆ H&R Block, Intuit stocks fall on news of a potential free tax-filing app by Trump transition team
▼ + stars: | 2024-11-19 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

The stock prices for H&R Block and Intuit fell after a Tuesday report saying the Trump transition team is considering creating a free tax-filing app. President-elect Donald Trump's "Department of Government Efficiency" has held "highly preliminary" discussions about creating the free tax-filing app, The Washington Post reported. A DOGE tax-filing app would represent a competitor for both H&R Block and TurboTax. It's unclear where a new DOGE tax app would bridge with newer policies the Biden administration already implemented. The IRS also offers free filing services through its Free File program for taxpayers who make an adjusted gross income of $79,000 or less.

Persons: Trump, Donald Trump's, Elon Musk, Vivek Ramaswamy, Biden, Letitia James Organizations: Intuit, Department of Government, Washington Post, Republican, IRS, Federal Trade Commission, New York

☆ Citi says this Korean stock is a 'unique' beneficiary of Nvidia's new AI chip, giving it 40% upside
▼ + stars: | 2024-11-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Nvidia's next-generation artificial intelligence chip Blackwell is in hot demand from companies like OpenAI, Microsoft , Meta and other firms building AI data centers to power products like ChatGPT and Copilot. Doosan's CCLs are manufactured by Doosan Electronics, a subsidiary that accounts for over 70% of the corporation's revenue. The bank's analysts believe this estimate could be conservative, noting the increased CCL content per Blackwell chip, which could translate into a much higher total addressable market than previously estimated. Doosan's stock has already shown strong performance, rising nearly 150% this year and almost tripling in value over the past year. The company is currently valued at about $2.5 billion on the Korean stock exchange.

Persons: Nvidia's, Blackwell, Nvidia's Blackwell, Josh Yang, Schwab, — CNBC's Michael Bloom, CJ Haddad Organizations: Citi, Doosan Corporation, Nvidia, Doosan, Korean, Blackwell, Microsoft, Meta, CCL, Nvidia Blackwell, Doosan Electronics, Co, RAFI Locations: Korea, Korea's

☆ Spotify shares pop on better-than-expected profit forecast
▼ + stars: | 2024-11-12 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange on Dec. 4, 2023. Spotify shares rose in extended trading Tuesday after the Swedish music streaming company issued a profit forecast for the fourth quarter that topped estimates. Spotify said operating income in the fourth quarter will come in at 481 million euros, exceeding the average analyst estimate of 432.7 million euros, according to StreetAccount. The company said sales will reach 4.1 billion euros, below the average analyst estimate of 4.26 billion euros, according to LSEG. Spotify shares rose about 8% after the report to $452.35 after rising 2.2% in regular trading.

Persons: MAUs Organizations: New York Stock Exchange, Spotify, LSEG Revenue, LSEG, StreetAccount Locations: Swedish

☆ Tesla shares pop 8% as post-election rally continues
▼ + stars: | 2024-11-11 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Elon Musk embraces Republican presidential nominee and former President Donald Trump during a campaign rally at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024. Tesla shares popped 8% on Monday, continuing to ride a postelection rally as President-elect Trump, closely allied with CEO Elon Musk, begins to set up his presidential cabinet. Analysts at Wedbush reiterated their "outperform" rating on the stock, joining earlier sunny outlooks reacting to Tuesday's results. Tesla recently reclaimed its $1 trillion market cap after surging nearly 30% last week. Trump has said previously he may cut the federal $7,500 electric vehicle tax credit, and those credits have historically helped to drive sales of Tesla vehicles.

Persons: Elon Musk, Donald Trump, Trump, Tesla, Musk, Elon Musk's, Volodymyr Zelenskyy, — CNBC's Michael Bloom, Annie Palmer, Lora Kolodny Organizations: Wedbush, Trump White House, Trump White, SpaceX, Bank of America Locations: Butler , Pennsylvania

☆ AppLovin, top tech stock of the year, soars another 45% on earnings beat
▼ + stars: | 2024-11-07 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue. For the fourth quarter, AppLovin sees revenue of $1.24 billion to $1.26 billion, representing growth of about 31% at the middle of the range. The company said software platform revenue in the quarter increased 66% to $835 million, driven by improvements in AXON's models. Net income in the quarter increased 300% to $434.4 million, or $1.25 a share, from $108.6 million, or 30 cents a share, a year earlier. "AppLovin continues to impress with outsized revenue growth and incredible EBITDA conversion," analysts at Wedbush wrote in a report on Thursday.

Persons: It's, AppLovin, Wedbush, Adam Foroughi, it's, Foroughi, CNBC's CJ Haddad, Unity Organizations: Revenue

☆ Barry Diller calls timing of The Washington Post's non-endorsement a 'blunder'
▼ + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

To Barry Diller, a friend of Amazon founder Jeff Bezos, the decision for The Washington Post not to endorse a candidate in tomorrow's presidential election was "absolutely principled" — and poorly timed, he said Monday on CNBC's Squawk Box. "They made a blunder — it should've happened months before, and it didn't, and that's the issue with it," Diller said. Diller is chairperson of both online travel company Expedia and IAC , which owns media platforms and websites like Dotdash Meredith and Care.com. "I think it was absolutely principled," Diller said. "The mistake they made — and it was a mistake admitted by him — was timing."

Persons: Barry Diller, Jeff Bezos, Diller, Dotdash Meredith, Care.com, Diane von Furstenberg, Lauren Sanchez, Bezos, — Organizations: Amazon, The Washington Post, IAC Locations: Bezos

☆ AppLovin's 300% surge in 2024 leaves ad-tech company with big expectations for earnings
▼ + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com time to read: +4 min

AppLovin has soared 310% in 2024, beating every U.S. tech company with a market cap of at least $5 billion, according to FactSet data. The technology helps put more targeted ads on the mobile gaming apps the company owns, and works for other studios that license the software. They said the company's "real opportunity" is to catch the influx in brand advertising towards mobile gaming from more conventional channels like social media or legacy broadcasting. Because of its position in digital advertising, AppLovin faces potential competition from some of the most well-capitalized companies on the planet. In 2022, AppLovin gave up on efforts to buy gaming software developer Unity Software for $20 billion, after Unity shareholders rejected the bid.

Persons: AppLovin, Wells Fargo, FactSet . Oppenheimer, Stifel Nicolaus, Jefferies, Adam Foroughi, could've, Foroughi, mightily, Unity, LightShed's Brandon Ross Organizations: Nvidia, Revenue, FactSet, Wedbush, Google, Facebook, Apple, Orient, Unity Software, Unity Locations: BTIG, AppLovin, U.S

☆ Meta's Threads micro-blogging app now has 275 million monthly users, Zuckerberg says
▼ + stars: | 2024-10-31 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Threads, Meta 's rival to Elon Musk's X app, now has nearly 275 million monthly users, CEO Mark Zuckerberg said Wednesday. The latest numbers indicate Threads is up 175% from a year ago when it reached 100 million users. The app is also up from 200 million monthly actives since Meta's second-quarter report in July. The app is now signing up more than 1 million users per day, Zuckerberg also said on Wednesday. X remains ahead of Threads in terms of users, with research firm Sensor Tower estimating in March that the app had 550 million monthly users.

Persons: Mark Zuckerberg, Elon, Zuckerberg, Musk, Susan Li, We've, Bernstein, they're, Li, Davidson's Luria Organizations: Meta, Twitter, Facebook, Microsoft Locations: Menlo Park , California, U.S, X's U.S

☆ Tesla shares surge 19% and head for best day in more than 3 years on Musk's 2025 growth projection
▼ + stars: | 2024-10-24 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. Tesla shares soared roughly 19% Thursday morning, putting the stock on pace for its best day in more than three years, following the company's better-than-expected earnings report. Tesla reported earnings per share of 72 cents adjusted, topping the average analyst estimate of 58 cents. Analysts at Morgan Stanley who recommend buying the stock, called Musk's 2025 vehicle delivery growth prediction a "maybe." It "clearly depends on the company's ability to improve affordability through cheaper model (next gen) introduction, financing offers and improved features," the Morgan Stanley analysts wrote in a note on Thursday.

Persons: Elon Musk, Mark Read, Tesla, FactSet, Morgan Stanley, — CNBC's Lora Kolodny Organizations: Cannes Lions, JPMorgan, Nasdaq Locations: Cannes, France

☆ McDonald's that hosted Trump gets influx of one-star reviews, forcing Yelp to disable comments
▼ + stars: | 2024-10-22 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Republican presidential nominee and former U.S. President Donald Trump works behind the counter during a visit to McDonalds in Feasterville-Trevose, Pennsylvania, U.S. October 20, 2024. Yelp temporarily disabled new reviews on the Feasterville, Pennsylvania McDonald's that former President Trump visited on Sunday, following an influx of unusual comments describing the former President's criminal convictions, demeanor and customer service skills with mostly one-star reviews. The comments varied in content, jest and vulgarity, with some criticizing the franchise owner for hosting the Trump campaign. One five-star review from Monday said, "The best McDonalds I've ever been to in 47 years. More than 145 reviews had already been posted before Yelp paused commenting using its Unusual Activity alert yesterday.

Persons: Donald Trump, Yelp, Trump, Noorie Malik, Derek Giacomantonio, Trump's, CNBC's Amelia Lucas Organizations: McDonalds, Trump, Safety, U.S, CNBC Locations: Feasterville, Trevose , Pennsylvania, U.S, Pennsylvania, Yelp, McDonald's

☆ Stanley Druckenmiller says he's 'licking my wounds' from selling Nvidia too soon
▼ + stars: | 2024-10-16 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller said on Wednesday that his decision to sell out of Nvidia this year was a "big mistake." Druckenmiller's comments do not reflect Nvidia's 10-for-1 stock split, which went into effect in June. "It tripled in a year, and I thought the valuation was rich," Druckenmiller told Bloomberg. Druckenmiller told CNBC in May that Nvidia was "a little overhyped now, but underhyped long term." He added that he was introduced to Nvidia in 2022, when "I didn't even know how to spell it."

Persons: Stanley Druckenmiller, I've, —, Druckenmiller, we've, we'd, financials Organizations: Nvidia, Bloomberg, Duquesne, Meta, Microsoft, CNBC

☆ Nvidia shares are up 25% in the last month, rallying near a record ahead of tech earnings
▼ + stars: | 2024-10-09 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Nvidia shares have surged 25% in the last month and are closing in on a record ahead of tech earnings season in the coming weeks, when top customers like Meta , Microsoft and Alphabet will update shareholders on their expected investments in artificial intelligence. In August, Nvidia reported second-quarter earnings that showed revenue rose 122% year-over-year while net income more than doubled to $16.6 billion. The company also gave stronger-than-expected guidance for the current quarter and said it expects to ship several billion dollars worth of its new Blackwell AI chip. Demand is so high that Nvidia expects shipments for its current-generation Hopper chip to increase over the next two quarters. Nvidia shares jumped 4% on Sept. 23, after a filing showed Huang finished selling the company's stock.

Persons: Hopper, Jensen Huang, Blackwell, Huang, — CNBC's Michael Bloom Organizations: Nvidia, Meta, Microsoft, Apple, Oracle, Blackwell, Data Center, Mizuho Locations: China, Taiwan

☆ Super Micro shares soar after server company says it's shipping over 100,000 AI GPUs per quarter
▼ + stars: | 2024-10-07 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

Super Micro Computer shares jumped 15% after the computer server company said it's shipping more than 100,000 graphics processing units used for artificial intelligence per quarter. The GPU figure was revealed in an announcement about a new cooling product unveiled by Super Micro on Monday. As one of the biggest beneficiaries of the AI boom, Super Micro makes computers that companies use as servers for data storage, websites, AI training models and more. While the announcement was cheered by Wall Street, Super Micro is about nine weeks behind in reporting its annual report, which was expected in August. WATCH: Super Micro stock is a 'very risky buy'

Persons: Wall Organizations: Micro Computer, Super, Micro, Wall Street Journal, Department of Justice, Hindenburg

☆ Nvidia CEO Jensen Huang says demand for next-generation Blackwell AI chip is 'insane'
▼ + stars: | 2024-10-03 | by ( Cj Haddad | ) www.cnbc.com time to read: +1 min

Nvidia CEO Jensen Huang said in an interview with CNBC's "Closing Bell Overtime" that demand for the company's next-generation artificial intelligence chip Blackwell is "insane." "Everybody wants to have the most and everybody wants to be first," Huang said during the interview, which aired on Wednesday. Nvidia has been the main beneficiary of the artificial intelligence boom, with shares up about 150% year-to-date. The company's revenue continued to surge during the fiscal second quarter to $30.04 billion, up 122% on an annual basis. Jensen said Nvidia plans to update its AI platform each year to increase performance by two to three times.

Persons: Jensen Huang, CNBC's, Blackwell, Huang, Colette Kress, Jensen Organizations: Nvidia, Microsoft, Meta, CNBC Locations: Blackwell

☆ Uber just jumped into the Halloween business
▼ + stars: | 2024-09-27 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Uber Technologies just announced a new partnership with Spirit Halloween, opening up delivery for Halloween costumes, decor and all things spooky to be delivered on-demand via Uber Eats, Postmates and the Uber app. Uber added all Spirit Halloween stores to the delivery apps as of Friday morning, an Uber spokesperson told CNBC. The Halloween shopping season is consistently one of the largest consumer spending events in the United States. Spirit Halloween did not immediately respond to a request for comment. Correction: Spirit Halloween is opening roughly 1.3% more retail locations in North America this year, compared to 2023.

Persons: Jack, Travis Kelce, Taylor Swift, I'm, we'll, Beryl Sanders, Uber Organizations: Technologies, Uber's, CNBC, Michael's, Party, National Retail Federation Locations: Los Angeles , California, Uber's U.S, North America, Party City, United States

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