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The company has a low forward price-to-earnings ratio of roughly 8.6. Ulta Beauty also made the screen as a cheap stock that analysts are bullish on. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet. Online pickup orders inside an Ulta Beauty store in the Upper East Side neighborhood in New York, US, on Monday, Nov. 27, 2023. The stock has a 14.5 forward price-to-earnings ratio and a consensus buy rating from analysts polled by FactSet.
Persons: Jefferies, Trevor Williams, We're, FactSet, Stifel, Ulta, General Motors, Bing Guan Organizations: Dow Jones, Nasdaq, CNBC, Financial, Global Payments, Jefferies, JPMorgan, Cadillac, Chevrolet, General, FedEx, Halliburton, Gilead Sciences, CVS Health, Bloomberg, Getty, CVS, Epam, Motors, HAL Halliburton, Resorts, JBL, LKQ, Vegas Sands Corp, MGM MGM Resorts International, LSEG Financial, Inc Locations: Gilead, New York
Donald Trump has reportedly sold one of his personal jets to a Republican donor. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDonald Trump has seemingly sold one of the planes from his prized fleet of private jets to a Republican donor. As Business Insider previously reported, on May 13, Trump's 1997 Cessna Jet was deregistered from the Trump Organization's DT Air Corp. This story is available exclusively to Business Insider subscribers.
Persons: Donald Trump, Trump, Organizations: Cessna, Service, Trump Organization's DT Air Corp, Fleet Holdings, Federal Aviation Administration, Business Locations: Dallas, Dallas , Texas
Investor darling Nvidia is dominating headlines once again after its earnings last week surpassed expectations on the back of the artificial intelligence boom. Morgan Stanley notes that the reaction to Nvidia's first quarter results is "very telling on how much buying power still exists in the market." Here are seven of Morgan Stanley's overweight-rated stocks to play these AI themes: Overweight-rated stocks Among Morgan Stanley's list of AI stock opportunities are South Korean tech giant SK Hynix and Taiwanese chipmaker Taiwan Semiconductor Manufacturing Company . SK Hynix stocks are held in the iShares MSCI South Korea ETF (8.4% weight) and Franklin FTSE South Korea ETF (8.3% weight). Shares in TSMC are included in the iShares MSCI Taiwan ETF (25.1% weight) and Franklin FTSE Taiwan ETF (22.2% weight) Beyond the headline-makers, Morgan Stanley also sees potential in Japanese manufacturer Advantest Corp .
Persons: Morgan Stanley, Nvidia's, Hopper, Morgan Stanley's, Morgan, Goldman Sachs, — CNBC's Michael Bloom Organizations: Nvidia, SK Hynix, Taiwan Semiconductor Manufacturing Company, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, Advantest Corp, Japan Equity, JPMorgan BetaBuilders Japan, Alchip Technologies, Technology, Memory Technology, Micronics Locations: Asia, Korean, Korea, Franklin FTSE South, Taiwan, Franklin FTSE Taiwan
Cathie Wood's ARK Invest has taken a stake in Elon Musk's startup xAI as she deepens her big bet on artificial intelligence. ARK Venture Fund has invested in xAI as of Sunday, the St. Petersburg, Florida-based asset manager said in an email to clients Tuesday evening. The xAI startup is also not the only Musk-led company Wood's venture fund bets on. The venture fund, launched in September 2022, targets smaller investors who can access the venture capital market through it with as little as $500. The xAI startup is reportedly planning to build a supercomputer to power the next version of its AI chatbot Grok.
Persons: Catherine Wood, Musk, Wood, Tesla Organizations: ARK Investment Management LLC, ARK Venture Fund, SpaceX, X Corp, Twitter, Microsoft, Google, Innovation Locations: Miami , Florida, U.S, Elon Musk's, xAI, St . Petersburg , Florida, OpenAI
Several stocks are well-positioned to benefit from any power supply bottlenecks resulting from rapid growth in data centers, according to 11 analysts at TD Cowen who compiled a 169-page report. As a result, they're building data centers where power is available, investing in transmission lines and exploring the use of nuclear energy . Brookfield Renewable Partners , an international renewable power producer and developer, is another beneficiary of the data center boom. "The recently signed framework agreement... is a clear example of BEP's exposure to corporate [power purchase agreement] momentum associated with data center demand. That will contribute to the energy supply needed to power data centers.
Persons: Cowen, Michael Elias, Elias, FactSet, TD Cowen, Sean Steuart, it's, Cowen's David Deckelbaum, Coterra Organizations: Amazon, Oracle, Digital Realty Trust, Digital Realty, Digital, Brookfield Renewable Partners, Microsoft, Brookfield, NuScale Power Corp, Reactor, Regulatory, Energy, Coterra Energy Locations: Northern Virginia, Silicon, Tuesday's, U.S, Europe, Brookfield, Appalachia
Last week, we explored the question: Can investors with little to no shares still buy Nvidia after these record runs? We aren't saying run out and sell shares right now if you are sitting on huge paper profits. Through the years, Nvidia shares have hit pockets of turbulence. This Nvidia run is being driven by investments into AI infrastructure. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Jensen Huang, Jensen, Jim Cramer, It's, Nvidia —, We've, Eaton, we've, Jim Cramer's, Jim, David Paul Morris Organizations: Nvidia, Devices, Intel, Blackwell, Club, Apple, Broadcom, CNBC, Nvidia Corp, Technology Conference, Bloomberg, Getty Locations: overbought, San Jose , California
Local officials said a massive landslide struck a village in Papua New Guinea's highlands, with many feared dead. An emergency convoy was delivering food, water and other provisions Saturday to stunned survivors of a landslide that devastated a remote village in the mountains of Papua New Guinea and was feared to have buried scores of people, officials said. Aktoprak conceded that if the number of buried houses estimated by local authorities was correct, the death toll could be higher. "The United States stands with Papua New Guinea — our close partner and friend — today and always," Biden added. Albanese posted on the social media platform X: "All Australians grieve for our brothers and sisters in Papua New Guinea after the terrible landslide."
Persons: Serhan Aktoprak, Aktoprak, James Marape, Andrew Ruing, Ruing, Joe Biden, Anthony Albanese, Biden, , Albanese Organizations: International Organization, Papua New Guinea, Australian Broadcasting Corp, U.S, Australian Locations: Maip Mulitaka, Papua, Enga Province, Papua New Guinea, Enga, South Pacific, Port Moresby, Papua New, Wabag, Porgera, Australia, United States, China
The Federal Deposit Insurance Corp. failed to report allegations of senior officials' misconduct in a timely manner, according to a new memo from the agency's internal watchdog. The Office of Inspector General "learned of several allegations of misconduct regarding senior FDIC officials that were not reported to the OIG in a timely manner," said the letter, dated Thursday. "The OIG is now reviewing these allegations to determine how they should be incorporated into OIG work plans." A scathing independent report published in April found a widespread culture of harassment and discrimination at the FDIC, citing allegations from more than 500 FDIC employees. "The FDIC has failed to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct," the report concluded.
Persons: Martin Gruenberg, Jennifer Fain, Gruenberg, General, Fain, Gruenberg —, Joe Biden, , Republican Travis Hill, Biden Organizations: Federal Deposit Insurance Corporation, Financial, Federal Deposit Insurance Corp, FDIC, FDIC's, Republican, GOP, Financial Services, White Locations: Washington , DC
That said, there are still some opportunities to buy AI stocks on the cheap. The stock's current forward price-to-earnings multiple at 20.1 is only slightly below its five-year average of 21.20. It is also cheap — the stock's current forward price-to-earnings multiple at 150.08 is significantly below its five-year average of 761.17. The stock is also trading at a discount to its five-year average, with a forward price-to-earnings ratio of 16. Other favored AI plays that meet the aforementioned criteria include Equinix , Adobe and Western Digital Corp .
Persons: Wall, Morgan Stanley, Snowflake, Tyler Radke, Joseph Moore, FactSet Organizations: Nvidia, Nasdaq, Dow Jones, CNBC Pro, Meta, Facebook, Citi Research, Micron Technology, Micron, Adobe, Western Digital Corp
The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on Feb. 7, 2024. Pharmacy staff at two CVS retail stores in Rhode Island voted to join a new national pharmacy union on Friday, signaling growing momentum in a movement to help thousands of U.S. pharmacy workers address what they allege are unsafe working conditions. It comes a month after a CVS Omnicare pharmacy in Las Vegas — which is not customer facing — became the first location to join the union, known as The Pharmacy Guild. "These are the first brick-and-mortar classic CVS model" stores to join the union, Shane Jerominski, a community pharmacist and co-founder of The Pharmacy Guild, told CNBC. Many employees said the Covid-19 pandemic only exacerbated those issues, with new duties such as vaccinations and testing stretching pharmacy staff even thinner.
Persons: , Shane Jerominski, Jerominski Organizations: CVS Health Corp, Pharmacy, Westerly, CVS, CNBC, Walgreens, National Labor Relations, IAM Healthcare, Rite Aid Locations: Las Vegas , Nevada, Rhode, Wakefield, Las Vegas, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday's rapid-fire: Snowflake, Ralph Lauren, elf Beauty, Live Nation, VF CorpJim Cramer looks at five stocks outside the CNBC Investing Club portfolio.
Persons: Ralph Lauren, Jim Cramer Organizations: CNBC, Club
Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute's Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California. PARIS, France — Tesla CEO Elon Musk said on Thursday that he doesn't support President Biden's recent announcement of a tariff on Chinese electric vehicles. "Neither Tesla nor I asked for these tariffs," Musk said during a question and answer session at the VivaTech conference Wednesday in Paris. "Tesla competes quite well in the market in China with no tariffs and no deferential support," Musk said Thursday. It's a change of tune for Musk, who suggested earlier this year that Chinese EV companies will crush competitors elsewhere in the absence of trade restrictions.
Persons: Elon Musk, Tesla, Biden's, Musk, Biden Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, Revenue Locations: Beverly Hills , California, PARIS, France, Paris, China, Europe
Snowflake posted $829 million in revenue, while analysts polled by LSEG had called for $786 million. Adjusted earnings for the period came in at 14 cents a share, however, missing the consensus estimate by 4 cents. Beauty — The cosmetics maker added 3.4% after easily surpassing consensus forecasts from analysts surveyed by FactSet for the fiscal fourth quarter. posted 53 cents in earnings per share, excluding items, on $321.1 million in revenue, while analysts penciled in just 33 cents on $292.6 million in revenue. On top of that, LiveRamp offered firm revenue guidance for both the current quarter and full year.
Persons: Snowflake, LSEG, NetEase, FactSet, e.l.f, LiveRamp, Cytokinetics, Goldman Sachs, Morgan Stanley, Ed Bred, Lori Koch, Alibaba, GoodRX, , Jesse Pound, Pia Singh, Yun Li, Tanaya Macheel, Sarah Min, Michelle Fox Organizations: Nvidia, Micro, Taiwan Semiconductor, Bloomberg, Department of Justice, of, News, Corp, JPMorgan, DuPont de Nemours, DuPont, Bloomberg News, Bank of America, RBC, Hasbro —, Hasbro Locations: Southern, of New York,
Elon Musk, co-founder of Tesla and SpaceX and owner of X Holdings Corp., speaks at the Milken Institute's Global Conference at the Beverly Hilton Hotel,on May 6, 2024 in Beverly Hills, California. Tesla could use more of high-profile CEO Elon Musk's divided focus at a critical juncture for the electric vehicle industry, former board member Steve Westly said Thursday. And it appears now that Mr Musk's focus is in too many areas," Westly told CNBC at the annual VivaTech conference in Paris. Tesla could use more of it," said Westly, who is managing director of venture capital firm The Westly Group and an early Tesla investor. Just how much of a liability Musk is for Tesla, however, Westly said was "for the board to decide."
Persons: Elon Musk, Tesla, Elon Musk's, Steve Westly, Westly, Jensen Huang —, he's Organizations: SpaceX, X Holdings Corp, Milken Institute's Global, Beverly Hilton Hotel, CNBC Locations: Beverly Hills , California, Paris
Nvidia — The chipmaker and artificial intelligence beneficiary spiked 11% after Nvidia posted strong fiscal first-quarter results , issued better-than-expected guidance and announced a 10-for-1 stock split. Live Nation Entertainment — Shares dropped 7% after the U.S. Department of Justice sued to break up the parent company of Ticketmaster, alleging antitrust violations . The cosmetics maker posted fourth-quarter adjusted earnings of 53 cents per share on revenues of $321.1 million. Snowflake had posted $829 million in revenue, surpassing the consensus forecast of $786 million, per LSEG. Adjusted earnings for the period came in at 14 cents a share, however, falling short of analysts' consensus estimate by 4 cents.
Persons: Brian West, LSEG, LiveRamp, GoodRx, Snowflake, Goldman Sachs, Morgan Stanley, — CNBC's Michelle Fox, Pia Singh Organizations: Nvidia, Micro Computer, Boeing —, Boeing, U.S . Department of Justice, Ticketmaster, RBC, Taiwan Semiconductor Manufacturing, Taiwan Semiconductor, Machinery, Titan Machinery, Triumph, JPMorgan, Corp, LSEG, Revenue
Snowflake : The data cloud company shares fell nearly 3% despite a revenue beat and a good guide. However, the revenue guidance was a little light. Live Nation : The Justice Department and 30 states are suing Live Nation, looking to break up Live Nation and Ticketmaster. Cramer countered that, saying VF Corp is selling a lot of products and clearing lots of inventory. He added the story at the company is not as negative as the stock, which has dropped 36% in 2024.
Persons: Jim Cramer's, Jim Cramer, Ralph Lauren, Cramer, That's, Taylor, Williams Organizations: CNBC, Club, Nvidia, Paris, The Justice Department, Ticketmaster, DOJ, VF Corp
Morgan Stanley accompanied the move by cutting its price target to $100 from $120. His $185 price target, up from $160, forecasts that shares of Take-Two could rally 23% from Wednesday's close. — Lisa Kailai Han 5:55 a.m.: Bernstein initiates Ford at an outperform rating Investors who don't own Ford are missing out, according to Bernstein. — Lisa Kailai Han 5:55 a.m.: JPMorgan upgrades Hasbro Don't expect Hasbro's momentum to slow in the near future, according to JPMorgan. It also raised its price target on shares to $74 from $61, implying upside of 22%.
Persons: Bernstein, Morgan Stanley downgrades NetEase, Morgan Stanley, Alex Poon, Poon, Lisa Kailai Han, Omar Dessouky, Dessouky, — Lisa Kailai Han, Sam Poser, Sean Dodge, Dodge, GoodRx, Ford, Daniel Roeska, Roeska didn't, Roeska, Christopher Horvers, Fred Imbert Organizations: CNBC, Ford, JPMorgan, Hasbro, NetEase, Bank of America, Rockstar Games, Rockstar, Supreme, Corp, Trading, EMEA, Timberland, RBC, RBC Capital Markets, pharma, Kroger Locations: China, Wednesday's, Americas
CNN —The situation at Warner Bros. Discovery’s TNT network “sucks, plain and simple,” Charles Barkley bluntly said Thursday. Barkley, who said he feels “so bad for the people” he works with, laid blame at the feet of the “clowns” atop WBD. Wall Street has responded quite negatively to the possibility WBD, which has built a programming slate around the NBA, could lose the rights to air the games. And TNT has built a programming slate around the NBA games, most notably the highly rated “Inside the NBA” show. Losing the rights to NBA games could throw aspects of that business partnership into question.
Persons: ” Charles Barkley, NBA ”, Dan Patrick, , Barkley, ” Barkley, David Zaslav’s, Adam Silver, Turner, Bloomberg’s Lucas Shaw, WBD, , Shaw, ” Shaw, Joe Flint, Amol Sharma, Isabella Simonetti, Zaslav, Venu, That’s, Gunnar Wiedenfels, Wiedenfels, ” Wiedenfels, there’s, you’ve Organizations: CNN, Warner Bros, TNT, NBA, Turner, Comcast, WSJ, WBD, NCAA, MLB, NHL, NASCAR, College Football, ESPN —, Disney, Fox Corp, Morgan’s Technology, Media & Communications Locations: WBD
Nvidia announced a 10-for-1 forward stock split in its fiscal first-quarter earnings report on Wednesday. Stock splits do nothing to change the financial fundamentals of a company but they so make each share cheaper, which can have a positive psychological effect on retail investors. Nvidia said the stock split will make ownership "more accessible to employees and investors," the release said. Nvidia shares closed on Wednesday at $949.50. Alphabet , Amazon and Tesla all orchestrated stock splits in 2022.
Persons: Jensen Huang Organizations: Nvidia Corp, Nvidia, Technology Conference Locations: San Jose , California
Meta may need such access to make its generative AI tools, like Meta AI, more effective for users and more competitive in the increasingly crowded market of generative AI search tools and chatbots, the people said. User posts and comments on Facebook or Instagram are not necessarily the type of high-quality training data that generative AI chatbots and search tools need to generate quality outputs. Previously, Zuckerberg said he did not expect the generative AI boom. The US Copyright Office is considering new rules to cover generative AI. Major rival tech companies now fiercely competing in generative AI have already entered into deals with news publishers and media outlets for more access to content to be used as model training data.
Persons: Meta, Mark Zuckerberg, Zuckerberg, Dotdash Meredith, Axel Springer, OpenAI, Kali Hays Organizations: Service, Meta, Facebook, Business, News, Google, US, News Corp, Financial, Associated Press, BI, Politico, Microsoft, The New York Times, Times Locations: Europe, khays@businessinsider.com
When Nvidia beats estimates, these 6 AI stocks tend to rise
  + stars: | 2024-05-22 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +2 min
Six artificial intelligence-related stocks tend to react positively to Nvidia 's quarterly results, according to CNBC Pro analysis. Five U.S.-listed stocks — Super Micro Computer , AMD , Marvell Technology , Vertiv , and Synopsys — along with Japan-listed Advantest Corp have each risen between 6% and 33% in the past after Nvidia revealed bumper earnings. Super Micro Computer Super Micro Computer, a tech infrastructure company, has become one of the biggest winners of Wall Street's appetite for AI investments. Advanced Micro Devices AMD, the biggest competitor to Nvidia, has also seen its shares jump after Nvidia's earnings. The stock rose 7.5% after Nvidia revealed its last quarterly figures and 16.2% after the first quarter 2023 numbers were out.
Persons: Nvidia's, Synopsys, Leswing, Alex Koller Organizations: Nvidia, CNBC, U.S, Computer, AMD, Marvell Technology, Advantest Corp, CNBC Pro, Wall Street Locations: Japan, United States
Check out the companies making headlines after the bell : Nvidia — The chipmaker added about 4% after announcing a 10-for-1 stock split . Nvidia also surpassed Wall Street's fiscal first-quarter estimates on the top and bottom lines, and it issued strong guidance for the current quarter. Fiscal first-quarter revenue surpassed the Street's expectations, coming in at $829 million, versus consensus estimates for $786 million, per LSEG. — The apparel and footwear company sank 9% after posting an unexpected loss for the recent quarter and revenue that fell short of Wall Street's estimates. VF Corp. posted a loss of 32 cents per share on $2.37 billion in revenue.
Persons: LSEG, FactSet, Synopsys, LiveRamp, Dow Jones, Goldman Sachs, Morgan Stanley, Ed Breen, Lori Koch, Breen, , Darla Mercado, Sarah Min, Scott Schnipper, Christina Cheddar, Berk Organizations: Nvidia, Super Micro, Devices, Corp, VF Corp, LiveRamp Holdings, News Corp, JPMorgan, DuPont de Nemours, DuPont
News Corp, the Murdoch-owned empire of publications like The Wall Street Journal and The New York Post, announced on Wednesday that it had agreed to a deal with OpenAI to share its content to train and service artificial intelligence chatbots. News Corp said the multiyear agreement would allow OpenAI to use current and archived news content from News Corp’s major news outlets, including brands in the United States, United Kingdom and Australia as well as MarketWatch and Barron’s. The agreement does not include content from News Corp’s other businesses, such as its digital real estate services or HarperCollins. The Wall Street Journal reported the agreement could be worth as much as $250 million over five years, citing unnamed sources. A News Corp spokesman declined to comment on the reporting.
Persons: Murdoch, OpenAI, , ” Robert Thomson, Sam Altman, , ” Mr, Altman Organizations: Corp, Street, The New, The New York Post, . News Corp, HarperCollins, News Corp, Street Journal Locations: The New York, United States, United Kingdom, Australia
One Club stock standout Wednesday was off-price retailer TJX after the T.J. Maxx, Marshalls and HomeGoods owner's solid quarter. The recent action in the Club stock has us wondering if a big buyer is lurking out there. 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, Ralph Lauren, Jim Cramer's, Jim Organizations: CNBC, Federal, Club, Marshalls, Nvidia, Moderna, Tech, Enphase Energy, Corp, BJ's Wholesale, Jim Cramer's Charitable Locations: Maxx
Earnings Per Share : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. : $6.12 adjusted vs. $5.59 adjusted, per LSEG consensus estimates. Revenue: $26.04 billion vs. $24.65 billion expected by LSEG Nvidia said it expected sales of $28 billion in the current quarter. Wall Street was anticipating earnings per share of $5.95 on sales of $26.61 billion, according to LSEG. Nvidia said its data center category rose 427% from the year-ago quarter to $22.6 billion in revenue.
Persons: Jensen Huang, Blackwell, Nvidia, David Paul Morris, Colette Kress, Lama, Kress Organizations: Nvidia, Nvidia Corp, Technology Conference, Bloomberg, Getty, Google, Microsoft, Meta Locations: San Jose , California
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