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☆ One Direction members react to Liam Payne's death: 'Beyond devastated'
▼ + stars: | 2024-10-17 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +6 min

Former One Direction singer Liam Payne died Wednesday after falling from a hotel balcony. AdvertisementLiam Payne's former One Direction bandmates have broken their silence on his sudden death. Payne, alongside Harry Styles, Zayn Malik, Louis Tomlinson, and Niall Horan, formed the band One Direction during the 2010 British talent show "The X Factor." On Thursday, the surviving former group members shared a joint statement on the group's official Instagram account. AdvertisementLike Tomlinson, Malik also praised Payne as "the most qualified" of the band members.

Persons: Liam Payne, Payne, —, Liam Payne's, it's, Harry Styles, Zayn Malik, Louis Tomlinson, Niall Horan, Liam, It's, Louis, Zayn, Niall, Harry, Tomlinson, I'd, they'd, I'm, Bear, Cheryl Cole, Malik, Tomlinson's, 😂, ike T omlinson, Organizations: Service, Business Locations: Argentina, British, ely

☆ Citi upgrades Cisco Systems, says Wall Street is underestimating AI tailwinds
▼ + stars: | 2024-10-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Don't overlook the artificial intelligence potential of Cisco Systems , Citi said. "While AI is currently a small piece of the biz (~2% of revs), we see the potential for a stronger contribution," he wrote. At least three major hyperscalers have already begun using the company's tools in backend networks, and Malik views Cisco's recent $9 billion 2027 hyperscaler AI opportunity forecast as potentially understated. "We believe shares warrant a sizable discount to networking peer valuation to reflect lingering share loss concerns, somewhat tempered by growing AI opportunities," he wrote. "Even at a 30+% discounted target multiple to peer average, we see meaningful upside to shares."

Persons: Atif Malik, Malik Organizations: Cisco Systems, Citi

Meanwhile, Morgan Stanley raised its price target on Constellation Energy to $313m implying more than 20% upside. 7 a.m.: DA Davidson downgrades Microsoft, cites diminishing AI lead DA Davidson believes that Microsoft has lost its edge over competitors in artificial intelligence. The investment firm downgraded shares of the tech giant to neutral from buy, although analyst Gil Luria maintained his $475 price target. This could begin to have a material impact on the company's returns beginning in 2025, the analyst wrote. Wells Fargo analyst Neil Kalton also hiked his price target on the stock to $300, implying nearly 18% upside ahead.

Persons: Raymond James, Morgan Stanley, Bernstein, DA Davidson, Davidson, Gil Luria, Luria, GitHub Copilot, — Lisa Kailai Han, Daniel Roeska, Roeska, Lisa Kailai Han, Ronald Josey, Josey, Meta, Atif Malik, Malik, Raymond James downgrades, Brian Gesuale, Gesuale, David Arcaro, Arcaro, Wells, Neil Kalton, — Fred Imbert Organizations: CNBC, Constellation Energy, Motors, Microsoft, DA, Nvidia, Motors General Motors, General Motors, Hyundai, Citi Locations: Palantir, Friday's, U.S, 25e, GenAI

☆ Houthi rebels are going to keep lobbing missiles at ships in the Red Sea 'for some time,' US intel chief says
▼ + stars: | 2024-05-03 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

Read previewFor months, the Houthis have relentlessly fired missiles and drones at merchant and Western naval vessels in key Middle Eastern waterways. The US and UK militaries have carried out several rounds of joint strikes targeting Houthi facilities across Yemen. On a far more frequent basis, however, American forces have carried out unilateral, preemptive strikes targeting drones or missiles before the rebels can fire them at nearby ships in the Red Sea and Gulf of Aden. A commercial ship in the Red Sea in March. Beyond going after ships in the Red Sea and Gulf of Aden, the Houthis, as part of Iran's broader proxy network that spans the region, have also launched missiles at Israel.

Persons: —, National Intelligence Avril Haines, Haines, Abdul Malik al, Houthi, it's, Virginia Sen, Tim Kaine Organizations: Service, Business, National Intelligence, Armed Services, AP, Department of Defense, US, Command Locations: Iran, Yemen, Israel, Gaza, Sanaa, Tehran, Gulf of Aden, Red

☆ U.S. and British strikes on Houthi sites in Yemen answer militants’ surge in Red Sea attacks on ships
▼ + stars: | 2024-02-24 | by ( ) www.cnbc.com time to read: +8 min

The U.S. F/A-18 fighter jets launched from the USS Dwight D. Eisenhower aircraft carrier, which is currently in the Red Sea, officials said. President Joe Biden and other senior leaders have repeatedly warned that the U.S. won't tolerate the Houthi attacks against commercial shipping. During normal operations, about 400 commercial vessels transit the southern Red Sea at any given time. The Rubymar, a British-registered, Lebanese-operated cargo vessel, was attacked while sailing through the Bab el-Mandeb Strait that connects the Red Sea and the Gulf of Aden. The Associated Press, relying on satellite images from Planet Labs PBC of the stricken vessel, reported Tuesday that the vessel was leaking oil in the Red Sea.

Persons: Dwight D, Lloyd Austin, Grant Shapps, Shapps, Joe Biden, haven't, We've, Sabrina Singh, we've, Mason, Abdul Malik al, Hope Organizations: US Coast Guard, US Central Command, U.S, Eisenhower, Defense, Yemeni Armed Forces, RAF, Islander, Hamas, Houthi, Aden , U.S . Central Command, Central Command, Khorfakkan, United, Command, Associated Press, Planet Labs PBC Locations: Iran, Yemen, Tampa , Florida, United States, U.S, Gulf of Aden, British, Red, Britain, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Gaza, Aden , U.S, Asia, Europe, Africa, Suez, Mandeb, Gulf, Aden, Palau, Belize, Lebanese, Bulgaria, United Arab Emirates

☆ Yemen Houthi Leader: No Ships Linked to Israel Passed During Last Week
▼ + stars: | 2024-02-13 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +1 min

"The Americans and the British failed to secure the passage of any ship heading to Israel. They can no longer protect even American-British ships, and this is a real and major victory for us," Abdul Malik al-Houthi said in a televised speech. Houthi militants, who control Yemen's most populous regions, have repeatedly fired on international commercial ships since mid-November. Their targets have been vessels with commercial ties to the United States, Britain or Israel, according to shipping and insurance sources. Houthi operations in the Red Sea, he said, were "legitimate (ones) to help support the people of Gaza and lift the siege being imposed on them."

Persons: Yemen's, Houthis, Abdul Malik al, Houthi, Mohamed Ghabori, Adam Makary, Gareth Jones, Mark Heinrich Organizations: British Locations: CAIRO, Yemen's Iran, Aden, Israel, British, United States, Britain, Gaza, Red, Yemen

☆ Yemen Houthi Leader Says Group Will Further Escalate if Attacks on Gaza Do Not Stop
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +1 min

DUBAI (Reuters) - The leader of Yemen's Iran-aligned Houthis said on Tuesday that the group will further escalate if the Israeli attack on Gaza does not stop. The Houthis, who control Yemen's capital and most populous areas, have attacked international shipping in the Red Sea since November in what they say is solidarity with Palestinians, drawing U.S. and British retaliatory strikes since last month. The attacks are disrupting maritime trade in one of the world's busiest corridors as freight firms reroute around the Cape of Good Hope to avoid the Suez Canal. The group fired naval missiles at two ships in the Red Sea on Tuesday, its military spokesman said, causing damage to Greek-owned Star Nasia and British-owned Morning Tide. War in Israel and Gaza View All 194 ImagesSpokesman Yahya Sarea identified the Greek-owned, Marshall Islands flagged Star Nasia as American.

Persons: Yemen's, Houthis, Abdul Malik al, Houthi, Yahya Sarea, Ahmed Elimam, Nayera Abdallah, Peter Graff Organizations: Reuters, Tide, Marshall Islands Locations: DUBAI, Yemen's Iran, Gaza, Red, Suez, Israel, India

☆ Stocks to buy for the next leg of the bull market, according to a money manager who helps run $1 trillion
▼ + stars: | 2024-01-19 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

The S & P 500 just notched a record high to declare its bull market status, but according to one money manager who helps oversee more than $1 trillion, there are a few names investors could focus on for the next leg of the cycle. "We're concerned about U.S. consumers, who are burdened by record levels of credit card debt at elevated interest rates." .SPX 1Y mountain S & P 500 The S & P 500 , which hit an all-time intraday peak on Friday, roared back at the end of 2023, notching a 24% gain for the year. Infrastructure stocks Malik believes that global infrastructure companies benefit from inelastic demand for the necessary services they provide, and are thus insulated from most recession risks. "Both dividend growth and global infrastructure stocks have historically weathered down markets relatively well," Malik said.

Persons: Saira Malik, Malik, that's, Linde Organizations: Investors, Fed, CNBC Pro, Motorola Solutions, Deutsche Bank, Motorola, CMS Energy Locations: Jackson, Michigan

☆ Opinion: For the Houthis, war is a way of life
▼ + stars: | 2024-01-16 | by ( Peter Bergen | ) edition.cnn.com time to read: +15 min

I think they’re probably ill-advised because I don’t think they’re going to do what they are intended to do. I don’t think they’ll deter the Houthis. This is such an unequal war because the whole character of war has changed. I don’t think it would make the slightest bit of difference whether the US designated them or not. I think they’re on the way to becoming Hezbollah.

Persons: Peter Bergen, CNN —, ”, Elisabeth Kendall, Kendall, PETER BERGEN, ELISABETH KENDALL, It’s, we’re, Elisabeth Kendall BERGEN, KENDALL, KENDALL, it’s, they’ve, didn’t, Abdul Malik al, I’m, Mohammed Hamoud, Donald Trump, Joe Biden, Biden, Trump, They’re, don’t, Ali Abdullah Saleh, Saleh Organizations: New, Arizona State University, Apple, Spotify, CNN, US, Girton College, Cambridge University, Islam, Atlantic Council, Iranian Revolutionary Guard, Iranian Revolutionary Guard Corps, UN, Anadolu Agency, Getty, Foreign Terrorist Organization, United Nations, Hezbollah, United Arab Locations: New America, Yemeni, Red, Yemen, Sanaa, Saudi Arabia, Hudaydah, Suez, Iran, Afghanistan, Iraq, Gaza, BERGEN, Israel, Islam, Kingdom of Saudi Arabia, ”, fragmenting, Washington, America, Beirut, Lebanon, Lebanese, United Arab Emirates

☆ Who are the Houthis and why are the rebels in Yemen attacking Red Sea shipping?
▼ + stars: | 2024-01-12 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +5 min

Iran-backed Houthi rebels in Yemen have been launching attacks on shipping in the Red Sea. Here's the history of the Houthi rebels and how they fit into the broader Middle East conflict. The Houthi rebels are based in Yemen and are attacking commercial vessels traveling into the Red Sea. Roberto Scandola/Getty Images; Business Insider illustrationHow could the Houthis' attacks affect the rest of the world? US Secretary of State Antony Blinken told reporters at a press conference this week that the Houthis' attacks on international shipping are "a threat to everyone."

Persons: —, Abdul, Malik al, they've, Roberto Scandola, Antony Blinken Organizations: Service, US, Center for Strategic, International Studies, Israel, Hamas, Gazan Health Authority, Business, Prosperity Guardian Locations: Iran, Yemen, Red, Gaza, Saudi Arabia, Israel, America, Hamas, Suez

☆ Who Are the Houthis and Why Is the U.S. Attacking Them?
▼ + stars: | 2024-01-11 | by ( Gaya Gupta | ) www.nytimes.com time to read: +1 min

Since mid-November, the Houthis, a Yemeni rebel group backed by Iran, have launched dozens of attacks on ships sailing through the Red Sea and the Suez Canal, a crucial shipping route through which 12 percent of world trade passes. The attack on Houthi bases came a day after the United Nations Security Council voted to condemn “in the strongest terms” at least two dozen attacks carried out by the Houthis on merchant and commercial vessels, which it said had impeded global commerce and undermined navigational freedom. Here’s a primer on the Houthis, their relationship with Hamas and the attacks in the Red Sea. Who are the Houthis? The Houthis, led by Abdul-Malik al-Houthi, are an Iran-backed group of Shiite rebels who have been fighting Yemen’s government for about two decades and now control the country’s northwest and its capital, Sana.

Persons: “, Abdul, Malik al Organizations: United Nations Security Locations: Yemeni, Iran, Suez, United States, Britain, Yemen, Red, Sana

☆ What new U.S. export controls on China mean for Nvidia and other key parts of AI ecosystem
▼ + stars: | 2023-10-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Washington's tightened grip on artificial intelligence chip sales to China could have long-term implications for Nvidia , 2023's famed AI darling. Through Wednesday's close, Nvidia, the dominant AI player, had lost 7% this week, while Advanced Micro Devices and Marvell Technology slumped more than 2%. What it means for Nvidia Nvidia said in an SEC filing this week that the latest government curbs could hinder its new product development timeline, and a handful of chip models. The major aim of the latest U.S. restrictions is to prevent China from harnessing advanced semiconductor chips to strengthen its military. To be sure, Nvidia isn't the only company slated to feel the pressure from the latest export curbs.

Persons: Greg Bassuk, Atif Malik, Morgan Stanley's Joseph Moore, Malik, America's Vivek Arya, Harlan Sur, Goldman Sachs, Toshiya Hari, Paul Meeks, Meeks, Charles Shi, JPMorgan's, Raymond James, Srini Pajjuri, Michael Bloom Organizations: Nvidia, U.S . Commerce Department, Devices, Marvell Technology, Commerce Department, Micron Technology, AXS Investments, Nvidia Nvidia, SEC, United, United Arab Emirates, Citi, Intel, Investments, Bank, America's, JPMorgan Chase, Lam Locations: China, Boise , Idaho, Vietnam, Saudi Arabia, United Arab, Freemont , California

☆ Don't expect Nvidia's rally to lose steam, Citi says
▼ + stars: | 2023-07-17 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Analyst Atif Malik raised his price target by $100 to $520 while maintaining his buy rating. That share price would be more than four times higher where the stock finished 2022. But neither his price target or bull case are considered outlandish for the stock. Though both are above the average analyst's price target of $479.22, neither exceeds the highest price target on Wall Street of $767 per share, according to Refinitiv. In addition to the price target hike, Malik also raised his outlook for earnings per share in upcoming years.

Persons: Atif Malik, Malik, Maik, — CNBC's Michael Bloom Organizations: Nvidia, Citi, Devices Locations: Friday's, China

☆ Investor Bill Ackman, David Sacks' PAC donated to RFK Jr.'s presidential campaign
▼ + stars: | 2023-07-14 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

When asked at the time, he didn't say whether he had donated to Kennedy's campaign. Ackman is one of several prominent business leaders who donated to Kennedy's campaign in the second quarter. The Purple Good Government PAC, a committee that's been largely funded by investor and Elon Musk ally David Sacks, donated $6,600 to the campaign. Ken Fisher, the founder and executive chairman of Fisher Investments, donated $6,600 to the campaign, according to the filing. Veteran Wall Street executive Omeed Malik also donated $6,600 to the Kennedy campaign, the filing says.

Persons: Bill Ackman, Robert F, Kennedy Jr, that's, Elon Musk, David Sacks, Ken Fisher, Omeed Malik, Kennedy, Malik, Brett Messing, Anthony Scaramucci's, Eric Clapton, Sacks, Fisher, Clapton, Chamath Palihapitiya, Joe Biden, Kennedy's, Biden, Kevin Breuninger Organizations: Pershing, Capital, CNBC, RFK, Good Government PAC, Fisher Investments, Wall, Hamptons, Quinnipiac, Democratic Locations: England

The country is planning to purchase Russian crude oil at a discount as high prices caused by geopolitical tensions have caused fuel prices to more than double in Pakistan. Pakistan Refinery Limited (PRL) will initially refine the Russian crude in a trial run, followed by Pak-Arab Refinery Limited (PARCO) and other refineries later. Pakistan is undertaking several measures, including raising fuel prices, to unlock a $1.1 billion tranche of aid from the International Monetary Fund. Fuel prices have jumped 143 rupees ($0.5046), or nearly 100%, in the last 12 months. Fuels including diesel became more expensive globally after Russia invaded Ukraine, which resulted in Western nations that consume large quantities of diesel imposing sanctions on Russian oil.

☆ A $1.1 trillion investment chief shares her 3-part checklist for confirming a recession has started — and details 4 stocks she expects to outperform no matter what
▼ + stars: | 2023-05-03 | by ( James Faris | Akin Oyedele | ) www.businessinsider.com time to read: +6 min

Nuveen investment chief Saira Malik is still forecasting a recession in the next year. Malik also shares four top stocks investors can buy to set themselves up for long-term success. "The consumer — which I would have said was holding up very well — I'm worried about tighter banking conditions, tighter banking credit on the consumer," Malik said. Additionally, the labor market is now showing cracks, even though the unemployment rate remains historically low at 3.5%. 4 stocks set to outperform in a downturnDespite her concerns about the economy, Malik doesn't see a massive market sell-off coming.

[1/4] Head of the Houthi Supreme Political Council, Mahdi al-Mashat, meets with Saudi and Omani delegations at the Republican Palace in Sanaa, Yemen April 9, 2023. Another Houthi official, Abdulmalik Alejri, said on Twitter that "with determination and honest intentions remaining difficulties can be resolved". STICKING POINTSTwo Yemeni sources, also speaking on condition of anonymity, said the parties could agree on an extended truce deal as they work out remaining differences. The United Nations and the PLC are not directly part of the Saudi-Houthi talks. The PLC was created to solidify the anti-Houthi bloc but has been beset by differences among Yemeni factions.

☆ Here's what to buy — and where — as falling earnings and a looming recession take their toll on US stocks, according to $1.1 trillion asset manager Nuveen
▼ + stars: | 2023-04-14 | by ( Marley Jay | ) www.businessinsider.com time to read: +3 min

While she's cautious on stocks, Malik says some struggling areas could be ready for a comeback. Nuveen, the asset management unit of financial planner TIAA, believes that even as a recession approaches, some of the market's recent losers are almost ready for a comeback. "Certain equity sectors that were among the hardest hit by rising rates over the past year may now be poised to benefit," Malik wrote. "We think better opportunities exist by taking on credit risk rather than duration risk," she said. "We see value across credit sectors, especially in high yield and loans, and would emphasize that we generally favor relatively higher quality segments within individual credit sectors."

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