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BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app. Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China. "AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.
Persons: Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo Organizations: Baidu, CNBC Locations: BEIJING, U.S, Beijing, China
Justin Sullivan | Getty ImagesAsian semiconductor-related stocks mostly slumped on Thursday after Nvidia reported an earnings forecast that failed to meet the lofty expectations of some investors. The sentiment has spilled over to Asia, with stocks tied to Nvidia suppliers as well as other chip companies mostly falling. Selloff in AsiaSemiconductor testing equipment supplier Advantest , which counts Nvidia among its clients, dropped as much as 5.6% on Thursday, the largest chip loser on Japan's benchmark Nikkei 225. Taiwan Semiconductor Manufacturing Corp , which manufacturers Nvidia's high-performance graphics processing units, slipped as much as 1.5%. The company has been a key supplier to Nvidia and is building the world's largest manufacturing facility in Mexico for assembling Nvidia's GB200 superchips, a key component of its next-generation Blackwell family computing platform.
Persons: Justin Sullivan, Daniel Newman, CNBC's Organizations: Getty, Nvidia, Futurum, Asia Semiconductor, Nikkei, Advantest Corp, Softbank Group, Taiwan Semiconductor Manufacturing Corp, Hai Precision Industry, Blackwell, SK Hynix, Samsung Electronics Locations: Santa Clara , California, Asia, Selloff, Mexico, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia is 'in a really good position' despite slowing growth, says The Futurum Group CEODaniel Newman, CEO at The Futurum Group, discusses investors' concern over Nvidia's increasingly "conservative" earnings forecast.
Persons: Daniel Newman Organizations: Nvidia
The return of DCM activity signals that borrowers are gearing up for corporate dealmaking to return. Goldman's global head of financing broke down the trends in an interview with BI. On Wall Street, corporate borrowing is on a roll. Many of those clients are large companies or organizations being advised by Goldman's investment bankers, which means the DCM business is directly reliant on deal flow. AdvertisementGoldman CEO David Solomon ran Goldman's leveraged finance group before taking over its financing business, including debt and equity capital markets and derivatives.
Persons: Goldman Sachs, Donald Trump, Vivek Bantwal, Bantwal, We've, we've, Goldman, David Solomon, David Solomon Jeenah Moon, Denis Coleman, refinancings, weren't Organizations: University of Pennsylvania's Wharton School, Getty, Underwriters, Wall, Bloomberg, Getty Images Goldman, Goldman, Blue
New York CNN —President-elect Donald Trump’s pick for chairman of the Federal Communications Commission, Brendan Carr, wasted no time in stating his priorities on Sunday night. Carr is now the senior Republican at the agency, which meant he was widely expected to get the chairman appointment. As chairman, Carr may be able to steer generous federal subsidies to Starlink. In his Project 2025 chapter, Carr laid out an agenda for the federal agency under a future Trump administration. The FCC chairman during Trump’s first term in office, Ajit Pai, had a very different set of priorities.
Persons: Donald Trump’s, Brendan Carr, Carr, ” Carr, Elon Musk, , Trump, NewsGuard, hasn’t, “ Carr, Gigi Sohn, Tom Wheeler, Trump’s, Ajit Pai, Pai, Jessica Rosenworcel, can’t Organizations: New, New York CNN, Federal Communications Commission, FCC, Democrats, Republican, Politico, Elon, Facebook, Twitter, Meta, Microsoft, Apple, Trump, Communications, Free Press, Democratic, Democrat Locations: New York, Big Tech
CNN —President Joe Biden’s climate law is on the chopping block as Republicans prepare to have full control in Washington. But it’s not just Democrats gearing up to protect the Inflation Reduction Act’s clean energy policies. In other words, if Republicans successfully repeal Biden’s climate and clean energy law, their districts stand to lose the most. Conservative groups and companies who are using the clean energy tax credits are already starting to lobby lawmakers to save them. “To demonstrate that these tax credits are really a net profit for the economy, that really is the name of the game.”
Persons: Joe Biden’s, it’s, Donald Trump, Buddy Carter, Trevor Houser, Trump gunning, ” Houser, Carter, Mike Johnson, Johnson, , , Richard Hudson —, , Adrian Deveny, they’ll, Heather Reams Organizations: CNN, Republican, ” Republican, Republicans, Massachusetts Institute of Technology, Congressional Republicans, Trump, Hyundai EV, Hyundai, North Carolina Rep, Toyota, MIT, Climate Vision, Conservative, Citizens, Responsible Energy Solutions Locations: Washington, Georgia, Carter’s Georgia
Unum Group CEO goes one-on-one with Jim Cramer
  + stars: | 2024-11-14 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Unum Group CEO goes one-on-one with Jim CramerUnum Group CEO Rick McKenney, joins 'Mad Money' host Jim Cramer to talk its long-term care business, insurance portfolio, share increase and more.
Persons: Jim Cramer Unum, Rick McKenney, Jim Cramer Organizations: Unum
Here's what needs to go right for Intel, the only US-based manufacturer of powerful chips. AdvertisementUS policymakers are still betting that Intel is the nation's best shot at manufacturing chips. Intel needs to balance the booksIntel plans to spin out its semiconductor manufacturing business into an independent subsidiary called Intel Foundry, separating the manufacturing process from its chip-design business. Not everyone is convinced that government intervention will help Intel get back on track in chip manufacturing. The report said they also discussed a potential merger between the company's chip design business and a competitor like AMD or Marvell.
Persons: , Dow, It's, they're, Alistair Barr, Stacy Rasgon, Patrick Moorhead, Moorhead, they've, Logan Purk, Edward Jones, Dan Morgan, Pat Gelsinger, Morgan, Rasgon, Daniel Newman, hasn't, Newman, Gina Raimondo, Donald, it's, Mark Warner, Semafor Organizations: Wall Street, Intel, Service, Dow Jones, Nvidia, Business, Qualcomm, AMD, Dow, Bernstein Research, TSMC, Intel Foundry, Synovus, Futurum Group, Act, Google, Microsoft, Apple, New York Times, Commerce Department, Sen, Marvell, Warner Locations: Taiwan, Washington
The 2024 election cycle has been a brutal assault on our text message inbox. But whatever that outcome is, one thing will unify both sides: Those awful campaign text messages will finally stop. If you, too, have felt bombarded with political texts, you're not alone. Katie Notopoulos / Business InsiderWhat the political text rules sayThe Federal Trade Commission makes rules around robocalls and robotexts: They're exempt from the federal "Do Not Call" list, but there are other rules they have to follow — political messages sent by an autodialer require "the called party's express consent." But messages sent manually don't require an opt-in, so that's why you get so many messages saying, "Hi, Katie!
Persons: , There's, I've, Joanna Stern, Katie Notopoulos, Katie, Suzie, it's Organizations: Service, Trump, The Wall Street, Federal Trade Commission Locations: United States, France
Morgan Stanley reiterates Apple as buy Morgan Stanley said it's sticking with the stock following the release of the company's annual 10-K analysis. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley raised its price target on Amazon to $230 per share from $210. Morgan Stanley upgrades Entergy to equal weight from underweight Morgan Stanley said the energy company's outlook has improved. " Morgan Stanley upgrades Roblox to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees a long runway for growth. " Morgan Stanley downgrades STMicroelectronics to underweight from equal weight Morgan Stanley said it sees too many headwinds from the semis manufacturer.
Persons: Berkshire Hathaway, Price, Morgan Stanley, Apple, Goldman Sachs, Goldman, it's bullish, Rollins, William Blair, TSMC, Bernstein, Trip.com, Morgan Stanley downgrades STMicroelectronics, Hollister comps, Peter Stern, D.A, Davidson, AAPL Organizations: UBS, Berkshire, Citi, Apple, PlayStation, Barclays, Blackwell, Tencent, Entertainment, Trip.com, Bank of America, Inc, KeySight, Qs, Abercrombie & Fitch Citi, of America, " Bank of America, Meta, Walmart Locations: Kazakhstan, LA, China
Meet the Press – November 3, 2024
  + stars: | 2024-11-03 | by ( ) www.nbcnews.com   time to read: +55 min
KRISTEN WELKER:As the 2024 election nears the finish line, Vice President Kamala Harris and former President Donald Trump make their last appeal to voters. Vice President Harris and former President Trump and their surrogates are making their closing arguments. North Carolina was the state former president Trump won in 2020 by the smallest margin and both candidates held events there on Saturday. I asked, what is his message to women who are thinking about voting for Vice President Harris. Today, Vice President Harris is in Michigan working to shore up the blue wall, her simplest path to winning the White House.
Persons: KRISTEN WELKER, PRES, KAMALA HARRIS, FMR . PRES, DONALD TRUMP, Kamala Harris, Donald Trump, Steve Kornacki, Liz Cheney, Let's, TONY HINCHCLIFFE, Raphael Warnock of, Doug Burgum, Chuck Todd, Cristina Londoño Rooney, Marc Short, Mike Pence, Jen Psaki, Kristen Welker, . PRES, Harris, Trump, Biden, haven't, Will Nikki Haley, hasn’t, Kamala, TIM WALZ, Donald Trump's, SEN, JD VANCE, FMR, MICHELLE OBAMA, She's, Hurricane Helene, NBC's Dasha Burns, DASHA BURNS, Kristen, Ann Selzer, , we've, Dasha, We're, Alcindor, YAMICHE, STEVE KORNACKI, Harris ., They've, she's, Joe Biden's, Steve, they've, We've, , Raphael Warnock of Georgia, Warnock, Press . SEN, RAPHAEL WARNOCK, It's, Martin Luther King Jr, Barack Obama, I've, I’ve, we're, They're, Governor Burgum, DOUG BURGUM, Nikki Haley, NIKKI HALEY, they're, Trump's, I'm, he's, Emerson, Iowa that's, I'd, Trump hasn't, It’s, Biden's, There's, Burgum, JEN PSAKI, Chuck, hasn't, CHUCK TODD, who's, – KRISTEN WELKER, she’s, Harris isn't, Jen, that's, Cristina, let's, CRISTINA LONDOÑO ROONEY, They’re, Obama, there's, o’clock, Clinton, JD Vance, RUDOLPH, MAYA RUDOLPH, we'd, Hillary Clinton, Marc, We'll, it's Organizations: FMR, NBC, Puerto Rico, Trump, Democratic, Republican, Washington, Telemundo, Staff, White House Press, Press, Rockefeller, Des Moines Register, NBC News, DONALD TRUMP : Georgia, GOV, TIM, FIRST, United States Capitol, Des Moines, White, Muslim, National, Black, Press ., Ebenezer Baptist Church, New York Times, Central, American, UN, Penn State football, Madison, , Iowa, Republicans, oversampled, Puerto Ricans, Obama, it's, Democratic Party Locations: America, FMR ., United States, Puerto Rico, Raphael Warnock of Georgia, North Dakota, New York, ., Wisconsin, North Carolina, Pennsylvania, ELON, Hurricane, Greensboro, Iowa, Michigan, Detroit, East Lansing, Dearborn , Michigan, Gaza, Arizona, Des, Washington, Ebenezer, Georgia, Trump's, Puerto Rican, Madison, Korea, Ukraine, Israel, Iran, American, Pennsylvania , Wisconsin, Kansas, Puerto, Puerto Ricans, Trump, , Wisconsin, it's New Hampshire, New Hampshire
The toughest part is just starting for Intel: Analyst
  + stars: | 2024-11-01 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe toughest part is just starting for Intel: AnalystDavid Nicholson of The Futurum Group discusses the challenges Intel is likely to face after a positive earnings result in Q3.
Persons: David Nicholson Organizations: Intel
Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California. "That should be expected, as Apple Intelligence features (the only reason to upgrade)have yet to be rolled out in a significant way." U.S. carriers, including AT&T, Verizon and T-Mobile, have also seemed unexcited about an Apple Intelligence upgrade cycle. But research firm Counterpoint Research told CNBC in October that iPhone sales, especially for the lower-priced devices, were strong in China. WATCH: Apple Intelligence rollout could be an inflection point, says Futurum Group CEO's Daniel Newman
Persons: Tim Cook, Apple doesn't, Morgan Stanley, Erik Woodring, Davidson, Gil Luria, We're, John Stankey, Malif Atik, Apple, Luca Maestri, Maestri, Kevan Parekh, CEO's Daniel Newman Organizations: Apple, Apple Intelligence, Verizon, Mobile, Huawei, Citi, Research, CNBC, Apple Watch, LSEG, Major League Soccer Locations: Cupertino , California, Spanish, U.S, China, Apple's
The US Air Force majorly overpaid for C-17 spare parts, including bathroom soap dispensers, per a Pentagon watchdog. AdvertisementThe US Air Force overpaid for spare parts for a C-17 military transport aircraft manufactured by Boeing, according to a new watchdog report. The audit, which detailed cost issues with a variety of C-17 spare parts, blamed the overpayment on a lack of oversight by the Air Force. The C-17 is a workhorse for the Air Force and joint force, transporting troops and a variety of assets. US Air Force photo by Staff Sgt.
Persons: , Brandon Vasquez, Cory D, Payne, Robert P, Storch Organizations: US Air Force, Pentagon, Service, Boeing, Air Force, Department of Defense, Spc, Defense Contract Management, Staff, Air
Investors could win big with some of the companies reporting earnings this week that are trading below their fair valuations. About one-third of the S & P 500 , or 154 companies, as well as 10 companies in the Dow Jones Industrial Average , are due to report earnings this week. It is also shaping up to be a big week for companies within the travel, restaurant, energy and pharmaceuticals industries. Ahead of these results, CNBC Pro screened for the stocks reporting this week that are both trading at a discount and favored among Wall Street. The energy company will report earnings next Thursday.
Persons: James Hardiman, TD Cowen, Cowen, Andrew Kligerman, Nicholas Campanella Organizations: Dow Jones, Microsoft, Big Tech, Intel, CNBC Pro, Norwegian Cruise, Citi, Insurance, MetLife, Barclays, D, WEC Locations: Norwegian, Entergy
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple Intelligence rollout could be an inflection point, says Futurum Group CEO's Daniel NewmanCNBC’s Steve Kovach joins 'Power Lunch' with Daniel Newman, Futurum Group CEO, to discuss the initial rollout of Apple's Apple Intelligence features.
Persons: CEO's Daniel Newman, Steve Kovach, Daniel Newman Organizations: Apple Intelligence, Futurum, Apple's Apple Intelligence
In North Carolina, the signs read in Spanish, “WARNING: if you are not a citizen of the United States of America, you cannot vote in elections. Earlier this week, Forward Justice addressed a letter to the North Carolina State Board of Elections, calling for the signs to be removed because they constitute "unlawful voter intimidation." The letter was co-signed by nearly two dozen organizations, including the North Carolina chapter of the American Civil Liberties Union. It’s already illegal for noncitizens to vote in elections in North Carolina and at the federal level — and illegal voting rarely happens. Early voting in North Carolina ends on Nov. 2.
Persons: it's, , , Cleta Mitchell, Mitchell, Donald Trump’s, Kathleen Roblez, hotlines, Jaclyn Maffetore, Maffetore, Spanish Jim Womack, Womack Organizations: North, Democratic Oklahoma, Forward Justice, North Carolina State Board, American Civil Liberties Union, ACLU, noncitizens, Brennan, Cato Institute, Heritage Foundation, GOP, Homeland Locations: North Carolina, United States of America, Durham County, U.S, Spanish, Lee County
A handful of companies reporting results in the upcoming week could see an earnings-powered boost. Megacap titans Microsoft , Amazon and Apple will headline the week, alongside other names within the travel, pharmaceuticals, energy and restaurant sectors. CNBC Pro screened FactSet for the companies reporting earnings next week that could receive a positive earnings surprise and see a jump in their shares. More than eight out of 10 of analysts covering Amazon view it as a buy, and the average price target suggests about 31% upside. Shares of Aptiv could rise another 29% from here, according to the average price target.
Persons: TD Cowen, Cowen, Andrew Kligerman, Aptiv, Wells, Colin Langan Organizations: Dow Jones, Megacap, Microsoft, Apple, CNBC, Insurance, MetLife, Bank of America, Citi, Amazon, Mastercard, Visa
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFuturum's Daniel Newman on Qualcomm's Snapdragon Summit and rumored Intel bidDaniel Newman of the Futurum Group discusses some of the latest developments coming out of the Qualcomm Snapdragon Summit and says that he doesn't think acquiring fellow chipmaker Intel would be the best path forward for the company.
Persons: Futurum's Daniel Newman, Daniel Newman Organizations: Snapdragon, Futurum, Qualcomm, Intel
The recent arrest of an Afghan accused of plotting an Election Day attack in the U.S., as well as recent plots in France, Sweden and elsewhere, highlight the growing threat posed by ISIS-K, officials and counterterrorism experts say. U.S and Western officials now view ISIS-K as the more potent threat. ISIS-K has used AI tools to dramatically bolster their propaganda output at low cost. Growing threat to the WestA string of recent arrests in the U.S. and other Western countries underscores the group’s resurgent threat. He also saved ISIS propaganda on his iCloud and Google accounts, participated in pro-ISIS Telegram groups and contributed $540 in cryptocurrency to a charity that funnels money to ISIS, the complaint says.
Persons: Lucas Webber, “ It’s, , Webber, ” Webber, Aaron Zelin, ” Bret Holmgren, ” Holmgren, Nasir Ahmad Tawhedi, Tawhedi, Nasir Ahmad Tawhedi . U.S . Department of Justice Tawhedi, Organizations: Islamic State, ISIS, Tech Against, Soufan, Al, Crocus City Hall, Washington Institute for Near East, National Center for Counterterrorism, U.S, FBI, NBC News, CIA, Nasir Ahmad Tawhedi . U.S . Department of Justice, U.S ., Local Guard Force Locations: Afghanistan, U.S, France, Sweden, Europe, New York, United States, Al Qaeda, Khorasan, Syria, Iraq, Kabul, Moscow, Crocus, Israel, Gaza, Iran, Tajikistan, Costa Rica, Pakistani, Canada, New York City, Oklahoma, Nasir Ahmad Tawhedi ., America, cryptocurrency
A Telegram group posted what it says is leaked US intel on Israel's attack plans against Iran. AdvertisementA Telegram channel posted what it says are "highly classified" US intelligence documents analyzing Israel's plans to attack Iran. The region is bracing for an expected Israeli attack on Iran. Israeli officials have said it plans to retaliate for Iran's October 1 missile attack. The US announced this month it would send troops along with "a Terminal High-Altitude Area Defense (THAAD) battery" to Israel in response to Iran's attack.
Persons: , Hassan Nasrallah, Sean McFate, Benjamin " Bibi, Biden, Bibi, McFate Organizations: intel, Middle East Spectator, Service, East Spectator, Zionist, Department of Defense, Business, US, Defense, Syracuse University Locations: Iran, Islamic Republic of Iran, Israel
A federal judge on Thursday issued a temporary restraining order against Florida’s surgeon general, the latest development in a legal battle over a television ad supporting the state’s abortion rights ballot measure. Earlier this month, the Florida Department of Health sent cease-and-desist letters to multiple broadcast stations that had aired the ad, threatening criminal charges against stations that didn’t stop playing it. The restraining order against Florida Surgeon General Joseph Ladapo lasts through Oct. 29. Even before the decision, Federal Communications Commission Chairwoman Jessica Rosenworcel had denounced the cease-and-desist letters as a violation of the First Amendment. The Florida Department of Health continued to oppose the ads in a statement on Friday.
Persons: , Mark Walker, Joseph Ladapo, ” Walker, Jessica Rosenworcel, ” Rosenworcel, , John Wilson, Wilson, Jae Williams, ” Caroline, Lauren Brenzel, ” “, ” Brenzel, Bacardi Jackson, ” Jackson Organizations: Florida Department of Health, U.S, District, Florida, State of, Federal Communications, Tampa Bay Times, Miami Herald, The Florida Department of Health Locations: Florida, Caroline, coercing, State of Florida, Hurricane Milton
Zeroing in on cyber insurance as a key area for reform comes as the U.S. government scrambles to find ways to disrupt ransomware networks. For many organizations, deciding whether to pay a ransom is a difficult and urgent decision. The hacker group allegedly demanded a ransom to return the stolen data, though it remains unclear whether NPD paid it. Darren Williams, founder of BlackFog, a cybersecurity firm that specializes in ransomware prevention and cyber warfare, is firmly against paying ransoms. UnitedHealth Group experienced this firsthand after its subsidiary, Change Healthcare, was hit by the ALPHV/BlackCat ransom group in April 2023.
Persons: Anne Neuberger, James S, Ann Neuberger, scrambles, Paul Underwood, Underwood, Bryan Hornung, Hornung, I've, they'd, , Ransom, LVHN, Darren Williams, BlackCat, LoanDepot Organizations: Brady, White, Washington , D.C, National Intelligence, FBI, Xact IT, Social, Lehigh Valley Health, Federal Trade Commission, NPD, Jerico, UnitedHealth Group, Change, Healthcare, LoanDepot Locations: Washington ,, what's, Pennsylvania, U.S
Why Uniqlo is thriving right now
  + stars: | 2024-10-18 | by ( Maria Noyen | ) www.businessinsider.com   time to read: +7 min
Uniqlo's parent recently reported record earnings for the third year running, bolstered by strong sales at Uniqlo. Uniqlo consumers are diverse in age and disposable income. Uniqlo thinks of itself as a tech companyTadashi Yanai, CEO of Uniqlo and founder of Fast Retailing, once said, "Uniqlo is not a fashion company — it's a technology company." Cristina Arias/Cover/Getty ImagesThat's why Uniqlo releases new collections seasonally, whereas rivals such as Zara produce about 500 new designs weekly. He thinks Uniqlo comes with "a bit of this myth of the Japanese psyche.
Persons: , Zara, Kate Yuille, Uniqlo.com Amrita Banta, Z, Banta, Martin Roll, Uniqlo, Tadashi Yanai, Toray, Yanai, Cristina Arias, Yuille, that's, Koji Watanabe Organizations: Service, Retailing, M, GU, Research, Strategy, McKinsey Locations: Japan, Zara, Hiroshima, Uniqlo, Uniqlo's
Intel products sold in China have been recommended for a security review by local officials who allege that the U.S. chipmaker poses "serious risks" to national security. CSAC further accused Intel of using remote management features to surveil users while covertly installing backdoors and of failing to address defects reported by users. Daniel Newman, CEO of The Futurum Group, noted the security review comes amid increased tensions between China and the U.S. in regard to chip controls and AI leadership. China accounted for 27.4% of Intel's revenue in 2023, making it vital to the company's bottom line at a time its stock is struggling following poor earnings and job cuts. However, under U.S. chip policy, the company has been restricted from exporting some of its most advanced products to Chinese clients.
Persons: CSAC, Daniel Newman, Newman Organizations: Intel, Cybersecurity Association of China Locations: China, U.S
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