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In his primetime Oval Office address on Wednesday, Biden ceded the political stage to Kamala Harris, ushering in an unusual period heading into the election where the vice president, not the president, will lead their party. It’s been the honor of my life to serve as your president,” Biden said. “But … the defense of democracy, which is a stake, I think (is) more important than any title,” Biden said. One of the most significant implications of Biden’s decision is that he’s now putting his entire political legacy in someone else’s hands. But if Harris prevails over Trump, Biden’s actions and thinking spelled out in Wednesday’s address will be more likely to be remembered in his own terms — as a selfless political move motivated by deep patriotism.
Persons: Joe Biden, Donald Trump, Biden, Kamala Harris, Harris, , It’s, ” Biden, , he’s, Trump, “ Thomas Jefferson, George Washington, Abraham Lincoln, Franklin Roosevelt, Benjamin Franklin’s, “ America’s, didn’t, Ronald Reagan, ” Reagan, , Barack Obama’s, Shakespeare’s Macbeth Organizations: CNN, Democratic Party, Democratic, Republican, Trump Locations: Gaza, America, Atlanta, Kings, United States of America, Washington
Follow our Olympics coverage in the lead-up to the Paris Games. The Paris Games will have more programming hours on the NBC broadcast network than any previous Olympics. NBC is upping its celebrity presence for its Olympic coverage in Paris, headlined by Snoop Dogg. “Research shows that it is a challenge to keep viewers after 10 p.m. ET,” NBC Olympics producer Rob Hyland said. NBCUniversal owns the U.S. media rights to the Olympic Games through 2032, so Paris (2024), Milan-Cortina (2026), Los Angeles (2028) and Brisbane (2032).
Persons: Peacock, Molly Solomon, NBC’s, , ” Solomon, Solomon, Snoop, Snoop Dogg, Christian Petersen, Kelly Clarkson, Peyton Manning, Mike Tirico, Alex Cooper, Leslie Jones, Kevin Hart, Kenan Thompson, Colin Jost, Cooper, Simone Biles, Manning, Ryan Crouser, Jones, Katie Ledecky, Sha’Carri Richardson, Lily Collins, Anna Hall, Ledecky, LeBron James, Sydney McLaughlin, Kelly Campbell, Peacock’s, Scott Hanson, Andrew Siciliano, Jac Collinsworth, Matt Iseman, Akbar Gbajabiamila, , Al Michaels, Mark Lazarus, Sanya Richards, Ross, Rowdy Gaines, Tim Daggett, Laurie Hernandez, Samantha Peszek, Misty, Julie Foudy, Dwyane Wade, LaChina Robinson, Michael Phelps, Dan Hicks, Gaines, Maddie Meyer, they’ll, Rob Hyland, Andres Cantor, Rebecca Lowe, Craig Melvin, Ahmed Fareed, Damon Hack, Maria Taylor, Cara Banks, Laura Britt, Trenni Casey, Lindsay Czarniak, Carolyn Manno, Kathryn Tappen, John Roethlisberger, “ John, He’s, , breaststroker Lilly King wagged, Ryan Murphy, Sunny Choi, Victor Montalvo, Joe Gesue, Ron Vaccaro, NBCU, it’s, NBCUniversal, Rick Cordella, Dan Goldfarb, Stuart Franklin Organizations: Paris, NBC, Paris Games, U.S, Tokyo Olympics, Olympics, NBC Olympics, NBC’s, Getty, NBC Sports, Tokyo Games, Beijing, Games, USA, CNBC, Golf Channel, Telemundo, Universo, NBCOlympics.com, , , NFL, NBCUniversal Media, Paris La Défense, Research, Olympic, Grand Palais, Concorde, NBC Sports ’, Olympic Games, Cortina Locations: Paris, Beijing, Pyeongchang, South Korea, Central, Pacific, U.S, Paris ”, Teahupo’o, Tahiti, Rio de Janeiro, Brazil, China, Rio, Tokyo, Peacock, United States, Versailles, Grand, London, Russian, Norway, South Carolina, Milan, Los Angeles, Brisbane, French
Her multi-hour phone blitz to Democratic Party power players on Sunday hinted at an operation primed ahead of time but that was kept secret and didn’t leak. The vice president has shown signs of improving her political skills recently, but that’s never been her forte. In a memo to reporters, the Trump campaign previewed a blistering assault to come on Harris. Harris is the least popular vice president in history – which is no surprise given her terrible record,” the memo said. The question now is whether Harris, who has exhibited considerable political liabilities as vice president, has the skills, staying power and luck to take advantage.
Persons: CNN — Kamala Harris, Joe Biden –, Donald Trump, Harris, Biden, Nancy Pelosi, Biden’s, Pelosi, Harris –, Trump, that’s, Barack Obama, Susie Wiles, Chris LaCivita, “ She’s, Joe Biden, ” Harris carves, He’s, pollsters, • Harris, Ben Wikler, , outpolled, Nikki Haley, , you’re, we’ve, Eric Swalwell, CNN’s John Berman, Chris Sununu, ’ ” • Harris, Hakeem Jeffries, Chuck Schumer, Kamala Harris, ” Harris, anoint Harris, , It’s, Vance, “ Kamala Harris Organizations: CNN, Democratic, Democratic Party, Sunday, Trump, Biden, Republican, GOP, Chicago . Governors, Wisconsin Democratic, Badger, Former South Carolina Gov, ” Democratic, • New, • New Hampshire Republican Gov, White, National Collegiate Athletics Association, Paris Olympics, Locations: Wilmington , Delaware, Covid, Washington, America, Harris, Chicago ., California, , • New Hampshire, Iowa, American
CNN —The Forbidden City was once one of the most powerful places on the planet. It was called the ‘Forbidden City’ because few Chinese subjects were allowed to enter. Ancient tableware from the Forbidden City is on display at the Hong Kong Palace Museum. “The majority of (the emperors) grew up in a highly disciplined environment,” says Wang of the Hong Kong Palace Museum. Now popular worldwide, Peking duck was regularly served at Empress Dowager Cixi's Forbidden City banquets.
Persons: Zhao Rongguang, Bin Xiao Zhao, Deng Xiaoping, Beijing . Zhao, wasn’t, Zhao, Kangxi Emperor, VCG Wilson, Kangxi, , Qianlong Emperor, Giuseppe Castiglione, , Qianlong, Daisy Yiyou Wang, Maggie Wong, Nicole Chiang, ” Chiang, Chiang, Emperor Qianlong, it’s, , ” Zhao, It's, didn’t, Wang, Dowager Cixi, Empress Dowager Cixi –, Cixi, China’s, Han Quan Xi, ’ ”, Dowager, Tian, Yan ”, suckling, Tian An Yan, Leah Abucayan Organizations: CNN, Historical, of China, Beijing's, Hong Kong Palace Museum, Hong, Forbidden, Hong Kong, Museum, Everett, Communists, China Import, Fair, Communist Locations: Europe, Beijing, China, Chinese, Heilongjiang, Paris, Beijing ., Prosperity, Netherlands, Italian, City, Hong Kong, It’s, Beijing’s, Forbidden City, Jiangnan, Hangzhou, Shanghai, Mongolia, Qianlong, Guangzhou, Japan, East Asia, Peking, Imperial
Experts told Business Insider the Ukraine war has underscored how some elements of modern air combat are radically changing. And in fights like Desert Storm and the Iraq War, the West established air superiority by taking out its opponent's air defenses. The Russian air force can't meet Western air forces air to air in a major attack without being "shot to pieces," Bronk said. "Nobody really wants an air war with Russia," said John Baum, a Mitchell Institute expert and retired US Air Force lieutenant colonel. "It is not a highly desirable thing, I think, from either side, to want to have this air war."
Persons: It's, Justin Bronk, hasn't, DIMITAR DILKOFF, Bronk, Andrew Curtis, Mark Cancian, Guy Snodgrass, Hoshang, Giorgio Di Mizio, David Allvin, it's, James Hecker, NATO hadn't, " Hecker, that's, Maxim Shemetov, Fabian Hinz, Riivo Valge, Mattias Eken, They're, Paula Bronstein, Anthony Sweeney, US Army Cancian, REUTERS Lockheed Martin, Timothy Wright, disaggregation, Schmuelgen Jarmo Lindberg, Evelyn Hockstein Valge, John Baum Organizations: Kyiv, NATO, Business, Royal United Services Institute, Western, Getty, US Air Force, Storm, Marine, Center for Strategic, International Studies, Russian Defense Ministry Press, AP Russia, AP, Hudson Institute nonresident, International Institute for Strategic Studies, REUTERS, RAND Corp, Patriots, US Army, West, Patriot, Ukraine, REUTERS Lockheed, Finnish Defense Forces, Eurofighter Typhoons, Mitchell Institute Locations: Ukraine, Russia, Russian, AFP, Iraq, Europe, West, Afghanistan, Baltic, Western Europe, Estonian, Finnish, Finland, Washington
The NATO official said they had observed “an unprecedented escalation and spread of Russia’s hybrid warfare” over the past six months, which included “physical sabotage” on the supply line of NATO weapons intended for Ukraine. “It is everything from point of production and origin, to storage, to those who are making decisions, to the actual delivery,” the senior NATO official said. Recent high-profile arrests have revealed the ad-hoc, clumsy nature of how the Kremlin’s intelligence operations have evolved since the start of the war in Ukraine. Russia is big enough to have resources to fight a war against Ukraine and also maintain its security operations against European countries… against us. There are people who take part in the war against Ukraine, and then they are rotated to some other region or area.
Persons: Blunt, , Donald Tusk, Dariusz Borowicz, Agencja Wyborcza.pl, Maxim, Andrzej, Jaroslaw, , Don’t, ” Andrzej, I’d, Wagner, Volodymyr Zelensky, Sean Gallup, Paris Charles de, Vladimir Putin’s, Harrys Organizations: CNN, NATO, Polish, Reuters, Ukraine, Getty, London’s Metropolitan Police Service, Kremlin, EU, Estonian Locations: Ukraine, Russia, Europe, , Reuters Russia, Washington , DC, Moscow, Poland, Russian, Lublin, Medyka, Ukrainian, Biala Podlaska, Warsaw, Polish, surveilling Rzeszow Jasionka, Kyiv, Berlin, Germany, Russian Ukrainian, Paris Charles, Paris Charles de Gaulle, East London, Estonia, Russia’s
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI helped Amazon march to a $2 trillion valuation, says Maxim's Tom ForteTom Forte, Maxim Group senior consumer internet analyst, joins 'Squawk on the Street' to discuss Amazon after the company crossed $2 trillion in valuation.
Persons: Tom Forte Tom Forte Organizations: Maxim Group
Here are Tuesday's biggest calls on Wall Street: Bank of America reiterates Nvidia as buy The firm named Nvidia to its best-of-breed list. Goldman Sachs reiterates Microsoft as buy Goldman said it's sticking with its buy rating on the stock. "We reiterate our Buy rating ($515 Price Target) on Microsoft as we see the company yielding strong returns on its Gen-AI investments." "We are initiating on Carpenter Technology (CRS) with a Buy rating and $144 target price (47% upside potential)." "We are initiating coverage on Rivian Automotive, Inc. (RIVN) with a BUY rating and $18 PT."
Persons: BoB, Goldman Sachs, Goldman, it's, TD Cowen, Zeta, Raymond James downgrades Penn, Raymond James, Wells, Tapestry's, Tesla, Piper Sandler, Uber, Piper, AMZN, Morgan Stanley, Ford, Evercore, Truist, Guggenheim, Rivian, Robinson, CHRW, Maxim, MicroStrategy Organizations: Bank of America, Nvidia, Disney, Microsoft, Technology, RBC, Zeta Global, PENN, UBS, Exxon, Deutsche Bank, Carpenter Technology, Tesla, Ford, TAP, Ball Corp, Rivian Automotive, Inc, Apple Locations: Capri, HNST
Read previewDonald Trump's former White House national security advisor is arguing that a second term in office should involve restarting US nuclear testing for the first time in over 30 years. No one wins a nuclear arms race, he said. Kimball called out the difference between O'Brien's argument for the resumption of nuclear testing with the Biden administration's current policy, which remains dedicated to the status quo. "Resuming nuclear testing would reduce US technical superiority over Russia and China because they would immediately follow and have much more to learn," he said. O'Brien's push for resumed testing shouldn't necessarily come as a surprise.
Persons: , Donald Trump's, That's, Robert O'Brien, Trump, O'Brien, Jon B, Obama, Donald Trump, Xi Jinping, Brendan Smialowski, Wolfsthal, Daryl Kimball, Strangelove, Kimball, Biden, Joe Biden's, Jake Sullivan, We've, Maxim Zmeyev, Jeffrey Lewis, Hans Kristensen, John Bolton Organizations: Service, White House, Business, Foreign Affairs, United, Russian, Getty, US, Arms Control, Joe Biden's National, Middlebury Institute of International Studies, Federation of American, US State Department Locations: Russia, China, United States, Washington, US, AFP, PRC, People's Republic of China, Moscow, Monterey
Read previewUkraine's latest claimed strike on Crimea is likely another example of how its older, Western-supplied missiles can foil even Russia's most advanced air-defense systems. Rybar, an influential Russian military blogger, said on Monday that Ukraine had attacked Crimea with at least 12 ATACMS missiles. AdvertisementThe S-400 is Russia's most advanced air defense system. Ukraine said none of its missiles were downed in the attack, while mocking Russia's descriptions of its own air defenses. "None of our missiles fired were intercepted by the enemy's 'highly effective' air defense," Ukraine's General Staff said.
Persons: , Rajan Menon, DIMITAR DILKOFF, Ian Williams, Fredrik Mertens, Maxim Shemetov, George Barros, Philip Karber Organizations: Service, Ukraine's, Staff, Business, Washington, for, Defense, Getty, US, UK Ministry of Defence, Russian Telegram, Missile Defense, Center for Strategic, International Studies, Storm, Hague, Strategic Studies, REUTERS, Institute for Locations: Crimea, Russian, Russia, Ukraine, AFP, France, Ukrainian, Moscow, Russian Kerch
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple's main challenge is that AI isn't ready for prime time: AnalystTom Forte of Maxim Group remains bearish on Apple and questions how long the company can continue to generate half its revenue from a single product.
Persons: Tom Forte Organizations: Maxim, Apple
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's what to watch during Apple's Worldwide Developers ConferenceNancy Tengler, CEO and Chief Investment Officer of Laffer Tengler Investments, and Tom Forte, Senior Consumer Internet Analyst at Maxim Group, discuss their expectations for WWDC.
Persons: Nancy Tengler, Tom Forte Organizations: Apple's Worldwide, Investments, Consumer, Maxim Group
I was writing a novel about Mr. Kaczynski. I grew up in Missoula, about 80 miles from the Unabomber’s shack in the Montana wilderness and was 11 at the time of his capture. I didn’t know who the Unabomber was or what he had done, but I could tell it was important — and dark. So much so that my home state was suddenly the center of national attention. Western Montana in the 1990s was not a place that made the national news, save for an occasional environmental disaster and the annual Testicle Festival — a days-long debauch of fried steer genitals that attracted seedier press.
Persons: Ted Kaczynski, Kaczynski, I’d Locations: Butner, N.C, Missoula, Montana, Western Montana
If true, the loss of a Polish shopping center by means of Russian arson would be shocking on its own. As NATO advances toward the July summit, it's become clear that more comprehensive discussions on addressing the Russian sabotage campaign must take place. Some of the earliest identified acts of Russian sabotage occurred in 2014 at ammunition depots in the Czech Republic killing two and causing $42.5 million in damage. Bulgaria has played a crucial role in supplying ammunition and shells to Ukrainian forces, especially in the early stages of the war. Matthias Merz/picture alliance via Getty ImagesWeapons and training facilities aiding Ukrainian forces are frequent targets.
Persons: , Donald Tusk, MAXIM SHEMETOV, Kaja Kallas, it's, Hannah Beier, Ozempic, Abrams, Matthias Merz, Russia, John MacDougall, Daniel Kochis Organizations: Service, Business, Reuters Estonia's, West, NATO, Scranton Army, BAE Systems, Denmark's Novo Nordisk, BAE, US Army, Getty Images, Energy, NATO Pipeline System, Deutsche Bahn, Investigators, DB, Getty, Kremlin, Ukraine, Center, Hudson Institute, United Locations: Polish, Poland, Wroclaw, Lithuania, Russia, Moscow, Russian, Estonia, Czech Republic, Vrbětice, Bulgaria, Scranton, Pennsylvania, United Kingdom, Ukrainian, Ukraine, Norwegian, Baltic, Bellheim, Germany, Czech, Europe, Berlin, France, Washington, Eurasia, United States, NATO
China iPhone sales jump
  + stars: | 2024-05-28 | 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 EmailChina iPhone sales jumpTom Forte, senior consumer internet analyst at Maxim Group, joins 'Squawk Box' to discuss Apple as iPhone sales in China jumped more than 52% in April and more.
Persons: Tom Forte Organizations: China, Maxim Group, Apple Locations: China
As Ukraine struggles to hold back Russian advances, the country’s officials say they are once again facing the formidable challenge of keeping electricity flowing as Moscow’s forces increasingly strike power plants. To conserve energy, the government has ordered nationwide rolling blackouts for Monday night, broadening the smaller regional ones that have become the norm in recent weeks. “This is another frontline in the war,” said Maxim Timchenko, the head of DTEK, Ukraine’s largest private electricity company, on social media last week. He said the company’s workers were engaged in a “race against time” to restore power to consumers. The nationwide blackout, scheduled from 6 p.m. to midnight, will affect the entire country for the first time this year, but it is unclear if it will continue past Monday.
Persons: , Maxim Timchenko Locations: Ukraine
Much of the war in Ukraine has gone poorly for Russia. But Russian President Vladimir Putin's war machine looks very different today than it did at the start of the conflict. The Russian military continued to suffer from other problems in the first year of fighting, racking up troop and equipment losses while failing to capture significant amounts of Ukrainian territory. AdvertisementThe following month, a top US official and general said, respectively, that the Russian military was "almost completely reconstituted" and had "grown back" to its pre-war strength. The employment of glide bombs to support ground maneuver is the primary example of how Russia's military is successfully learning from its past shortcomings, Barros said.
Persons: , Vladimir Putin's, Putin, Vladimir Putin, Miguel Diaz, Canel, Maxim Shemetov, George Barros, Russia's, Stringer, They've, Chris Cavoli, Andrei Belousov —, Sergei Shoigu, Barros, It's, Andrei Belousov, VYACHESLAV PROKOFYEV, Oleksandra Novosel, Biden, Sergey Pivovarov, Mick Ryan, Jack Watling Organizations: Service, Business, Cuban, Institute for, Ukraine, REUTERS, Allied, US European Command, Sputnik, Security, Defense, Getty, JSC, UA, PBC, 42nd Separate Mechanized Brigade, Russian, Kharkiv, Royal United Services Institute Locations: Russia, Moscow, Ukraine, Ukraine —, , Russian, Kharkiv, Kherson, Robotyne, Ukraine's Zaporizhzhia, Soviet, Shevchenkivskyi, Avdiivka, Washington, Russia's Rostov, Australian, Kyiv
But Putin's replacement of Defense Minister Sergei Shoigu was unexpected — and his choice of successor, civilian economist Andrei Belousov, was even more of a surprise. Russia's incoming Defense Minister Andrey Belousov. "Belousov's main goal is to secure [Russia's] military needs in terms of arms. The Kremlin announced on Sunday that Shoigu, Russia's defense minister since 2012, had been relieved of his post and would become secretary of Russia's influential Security Council. Prigozhin died last August in a plane crash after a short-lived and ill-fated rebellion against Russia's military leadership.
Persons: Vladimir Putin, Miguel Diaz, Maxim Shemetov, Sergei Shoigu, Andrei Belousov, Belousov, Putin, Andrey Belousov, Shoigu, Belousov's, Dmitry Peskov, Peskov, Uralvagonzavod, Ramil Sitdikov, Staff Valery Gerasimov, Tatiana Stanovaya, Stanovaya, Nikolai Patrushev, Yevgeny Prigozhin, Ukraine —, Prigozhin, Valery Gerasimov, Mikhail Klimentyev Organizations: Cuban, Canel, Reuters, NATO, Institute for, Anadolu, Getty, Kremlin, Russian MoD, Defense Ministry, Sputnik, Afp, Staff, Carnegie Russia Eurasia Center, CNBC, Nazi, Security, Wagner Group, Russian Armed Forces, Russian Defence, Defence Ministry Board, National Defence Control Centre Locations: Moscow, Russia, Ukraine, Washington, Kharkiv, Russian, Urals, Nizhny Tagil, Nazi Germany, Kremlin
Read previewUkraine's security service, the SBU, said on Tuesday that it had foiled the latest Russian plot to assassinate Ukraine's President Volodymyr Zelenskyy and other top officials. Among those allegedly involved in the planned assassinations were senior members of Ukraine's government protection service. Last year, the Ukrainian president said he was aware of so many plots against his life since the start of the war he'd lost count. Related storiesAccording to SBU, the men involved in the latest plot were working as part of a network of agents for the Russian FSB security service. It's alleged that the plotters had planned to kill Budanov by Orthodox Easter (May 5) and the mission was "supposed to be a gift to [Russian President Vladimir] Putin's inauguration."
Persons: , Volodymyr Zelenskyy, Mark Episkopos, he'd, SBU, Artem Dehtiarenko, Vasyl Malyuk, Kyril Budanov, It's, Budanov, Vladimir, Putin's, Maxim Mishustin, Dmytro Perlin, Aleksii Organizations: Service, Business, Eurasia Research, Quincy Institute, Responsible Locations: Eurasia, Russia, Russian
CNN —Vladimir Putin has formally begun his fifth term as Russia’s president in a carefully choreographed inauguration ceremony, in a country he has shaped in his image after first taking office nearly a quarter of a century ago. Putin won Russia’s stage-managed election by an overwhelming majority in March, securing for himself another six-year term that could see him rule until at least his 77th birthday. Attendees wait in the Kremlin as Putin arrives for his inauguration ceremony. Putin waves during his inauguration ceremony. To ensure it has enough drones and missiles to bombard Ukraine, Russia has also entered into deeper partnerships with Iran and North Korea.
Persons: CNN — Vladimir Putin, Putin, – Putin, , Matthew Miller, Putin’s, Maxim Shemetov, Wagner, Yevgeny Prigozhin, Prigozhin, Alexey Navalny, Navalny, , ” Putin Organizations: CNN, Kremlin, US State Department, Reuters, US Embassy, Presidential Locations: Russia, Ukraine, United States, Kremlin, Moscow, Russian, Luhansk, Donetsk, Kherson, Zaporizhzhia, Iran, North Korea
Atlanta CNN —Vladimir Kara-Murza, a prominent Russian human rights advocate and Kremlin critic, has won the Pulitzer Prize for commentary written from his prison cell. Kara-Murza is serving a 25-year jail term for publicly criticizing Moscow’s war in Ukraine. The sentence had been widely condemned by the international community as draconian and politically motivated. In his April 2022 interview with CNN, the political dissident condemned Putin’s regime for targeting critics. He was arrested shortly afterwards for “failing to obey the orders of law enforcement,” according to his wife.
Persons: Vladimir Kara, Murza, Monday’s Pulitzer, Kara, , Vladimir Putin’s, Evgenia Kara, Vladimir, ” Kara, Maxim Shemetov, Putin, Putin’s Organizations: Atlanta CNN, Kremlin, Washington, Washington Post, CNN Locations: Russian, Ukraine, Russia, Vladimir Putin’s Russia, Moscow, Arizona
Ukrainian forces used drones to attack an airfield deep inside Russia last month. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementRussia has pulled dozens of aircraft away from the front lines in response to a massive Ukrainian drone attack on a military base deep behind enemy lines, according to new Western intelligence. The late-April attack was not the first time Ukrainian deep strikes have forced Russia to relocate its vulnerable assets. Even before the Kushchyovskaya strike, Ukraine has tried going after Russia's airbases in an apparent bid to stomp out the glide-bomb threat.
Persons: , Sukhoi Su, Maxim, Russia's Su, ALEXANDER NEMENOV Organizations: Service, Sukhoi, International Army, REUTERS, Ukraine, Victory Day, Getty, Kyiv Locations: Russia, Ukraine, Ryazan, Ukrainian, Crimean, Russian, Moscow, AFP
Sell in May and go away? Think again
  + stars: | 2024-05-02 | by ( Krystal Hur | ) edition.cnn.com   time to read: +6 min
New York CNN —It’s “sell in May and go away” season. All three major indexes broke five-month winning streaks as hotter-than-expected inflation data stoked fears that interest rate cuts will come later than forecast. The central bank kept interest rates on hold at a 23-year high at its policy meeting. Persistent inflation has kept long-anticipated rate cuts on the backburner. Tesla “has let our entire charging org go,” William Navarro Jameson, strategic charging programs lead at Tesla, wrote on X.
Persons: Stocks, Jerome Powell, , Alex McGrath, Larry Tentarelli, Bryan Mena, it’s, Read, Tesla, Tesla “, ” William Navarro Jameson, Lane Chaplin, Hanna Ziady, Peter Valdes Organizations: CNN Business, Bell, New York CNN, The, Dow Jones, Nasdaq, Wednesday, Traders, Blue, Carson Group, Research, Federal Reserve, Fed, Motors, Ford, Tesla Locations: New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAWS is now catching up with AI and 'in a position to lead', says D.A. Davidson's Gil LuriaGil Luria, D.A. Davidson senior analyst, and Tom Forte, Maxim Group managing director, join 'Closing Bell Overtime' to talk Amazon quarterly results.
Persons: Davidson's Gil Luria Gil Luria, D.A, Davidson, Tom Forte Organizations: AWS, Maxim Group
For most of its 27 years as a public company, Amazon investors have been asked to sacrifice profit for growth. In its first-quarter earnings report on Tuesday, Amazon's operating margin reached double digits for the first time on record. Operating income more than tripled in the quarter to $15.3 billion, while net income also jumped more than 200% to $10.4 billion. Almost two-thirds of operating income for all of Amazon came from AWS, which is now generating over $100 billion in annualized revenue. Operating income will be $10 billion to $14 billion, up from $7.7 billion a year earlier.
Persons: Andy Jassy, Andy, Andy Jassy's, Tom Forte, CNBC's, Brian Olsavsky, Olsavsky, That's, Jassy, he's Organizations: Amazon, Seattle, Maxim Group, Revenue, Amazon Web Services, AWS, Technology, Microsoft, Google Locations: Seattle
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