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Nick Cannon recently opened up about feeling insecure during his six-year marriage to Mariah Carey. AdvertisementDuring their six-year marriage, Nick Cannon said he knew what people were thinking: "The kid from Nickelodeon is with Mariah Carey?" As a child star on Nickelodeon's "All That" and its spin-off "The Nick Cannon Show," Cannon was an avowed fan of Carey, who's 11 years his senior. Cannon praised Carey for being "understanding" and "evolved," even while he was struggling with his identity and career. Cannon is far from the only man who's admitted to being jealous of his wife's financial status.
Persons: Nick Cannon, Mariah Carey, Cannon, , Ray Daniels, Carey, who's, Daniels, — she's, Singer, hasn't, She's, I'm, Mauricio Santana, Jenna Birch, outperforms, Kate Ratliff, they're Organizations: Service, Nickelodeon, VH1, Billboard, The New York Times, Def, Social Psychology, American Psychological Association, University of Florida Locations: Monroe, Sao Paulo, Brazil
Goldman Sachs forecasts muted S&P 500 gains, with a 3% annual return over 10 years. Diversification and equal-weighted S&P 500 exposure may offer better long-term returns. The bank's most bearish scenario would see the S&P 500 decline by an annual 1%, while its more positive calls for a gain of 7%. Goldman SachsAdding an exchange-traded fund that tracks the equal-weighted S&P 500 could be one way to go about it. AdvertisementFurthermore, investors should consider a more mixed asset portfolio of stocks and bonds without tilting toward one more than the other.
Persons: Goldman Sachs, , David Kostin, Goldman, There's, Christian Mueller Organizations: Service, Nvidia, Treasury
For others, such as the $3 billion hedge-fund platform Crestline Summit, it is a part of their expansion plans. One such manager is former Citadel PM Josh White, who started trading at his London-based Regents Gate earlier this year with capital from Crestline. Advertisement"Some of our competitors are kind of an indentured servitude model," said Scott Nelson, who runs the client partnership group. The brand the firm is trying to push externally is that they are "capital partners, not capital providers," Nelson said. AdvertisementA person familiar with the manager's flagship strategy said Crestline was up nearly 12% in 2023, besting funds such as Point72 and Millennium.
Persons: , Caroline Cooley, Crestline, we're, ExodusPoint, Michael Gelband, Neilson Arbour, multimanagers, Arbour, Cooley, Josh White, Scott Nelson, Nelson Organizations: Service, of, Crestline Summit, Texas, Citadel Locations: Texas, The Texas, of Texas, New York, London, Crestline
Meta just launched Movie Gen, an AI video generator to compete with OpenAI's Sora. AdvertisementMeta released a new AI video-generating tool on Friday that is also the company's latest volley in its battle with OpenAI for AI supremacy. In its press release, Meta called Movie Gen the "most advanced and immersive storytelling suite of models," including video generation, audio generation, personalized video generation, and video editing. For video generation, those Meta surveyed preferred Movie Gen over OpenAI Sora, the company's press release said. Meta, OpenAI, and Google did not immediately respond to a request for comment.
Persons: Meta, OpenAI's Sora, , Deng, OpenAi, OpenAI's ChatGPT, OpenAI's, OpenAI Sora, Google's Organizations: Google, Service, Veo, Meta
ExodusPoint led multimanager hedge funds with a 1.5% gain last month and is up 6.5% in 2024. Millennium and Schonfeld had strong returns; Citadel, Balyasny, and Walleye lagged behind. AdvertisementIn the last month before a new cash hurdle forces the firm to outperform for performance fees, ExodusPoint led the way among multistrategy hedge funds. The $11 billion manager was up 1.5% last month, bringing its 2024 numbers to 6.5%, a person close to Michael Gelband's fund said. The firm was down 0.2% last month, though it is still up 11.1% on the year, a person close to the firm said.
Persons: ExodusPoint, Schonfeld, , Michael Gelband's, Ken Griffin's Organizations: Citadel, Walleye, Service, Business Locations: Balyasny, York, Wellington, Miami
Though the S & P 500 is up more than 20% in 2024, Evercore ISI sees a patch of volatility ahead as the November presidential election approaches — and the firm has stocks to play either outcome. Evercore ISI thinks that automotive components manufacturer Aptiv could rise in the event of a Harris/Walz win. Evercore ISI called the bank "a flight to quality name," saying it was in a competitive position despite an uncertain backdrop. If Trump wins, Charter Communications is one stock that could benefit from a "potentially benign tax environment" and a pickup in M & A activity, Evercore ISI said. Supermarket operator Kroger could also outperform due to its ability to pass through higher prices to consumers, according to Evercore ISI.
Persons: , Evercore, Kamala Harris, Donald Trump, Julian Emanuel, Emanuel, Harris, Walz, APTV, Colin Langan, Brian Meredith, Michael Rollins, Arun Sundaram Organizations: ISI, Democratic, Government, United, Affordable, Medicare, Wells Fargo, Smart, PNC Financial Services, Evercore ISI, PNC, UBS, Trump, Charter Communications, Citi, Kroger Locations: Wells, Regional
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMercadoLibre: Argentinian e-commerce giant outperforms mega-cap techMercadoLibre, the Argentinian e-commerce giant, is emerging as a top pick on Wall Street as investors look for tech opportunities beyond the Magnificent Seven. Kate Rooney breaks down the bull case.
Persons: Kate Rooney
Donald Trump is facing calls both from his allies and from within his own campaign to pull his endorsement from scandal-plagued North Carolina gubernatorial candidate Mark Robinson, according to four people familiar with the discussions. “North Carolina is a vital part of that plan. Additionally, Republican members of the North Carolina congressional delegation, including Sens. Ted Budd and Thom Tillis, and Republican National Committee Chairman Michael Whatley, who is from North Carolina, planned to privately urge Trump to pull his endorsement of Robinson, according to a person familiar with the conversations. Recent polling has had Trump in a statistical dead heat with Vice President Kamala Harris in the state, at roughly 48%.
Persons: Donald Trump, Mark Robinson, Robinson, , Trump, Martin Luther King, Trump’s, ” Trump, Karoline Leavitt, Biden, Harris, , Ted Budd, Thom Tillis, Michael Whatley, Budd, Tillis, Whatley, , ” Robinson, Clarence Thomas, “ Robinson, Kamala Harris, outperforms Robinson, Josh Stein, Robinson’s, Roy Moore, Madison Cawthorn’s, Herschel Walker Organizations: North Carolina, CNN, White, Trump, NBC News, North, Republican National, Republican, Republican Governors Association, North Carolina Rep, Georgia Senate Locations: “ North Carolina, North Carolina, Sens, Wilmington , North Carolina, Alabama, Georgia
Today is triple witching expiration , the quarterly expiration of single stock and index options, and index futures. It's occurring at an unusual moment: the S & P 500 is at an historic high. Week after triple witch: poor Unfortunately, the week after the September triple witch is historically among the weakest of the year. S & P 500 rebalancing today The S & P 500 will see three new entrants at the close today, each of which will begin trading as part of the S & P on Monday: Dell Technologies , Erie Indemnity and Palantir Technologies . Finally, while the S & P 500 is at a new high, the Russell 2000 smallcap index is not far behind.
Persons: Chris Murphy, Jeff Hirsch, Dow Industrials, Hirsch, Dell, Russell Organizations: Stock, Nasdaq, Dell Technologies, Erie, Palantir Technologies, Etsy, Rad Laboratories, American Airlines Group Locations: Susquehanna
On Thursday, traders get the latest reading on the state of the consumer with retail sales data for July. Hot CPI and inline retail sales (up 0.1% to 0.5%) — JPM believes that a hot CPI print and retail sales matching expectations could fuel "stagflation risks." Expect the S & P 500 to gain and Nasdaq and Russell to perform similarly. Inline CPI and cool retail sales — How much equities move in this outcome depends on the magnitude of the downside surprise in retail sales. In this scenario, traders expect a broadening in the market that includes the S & P 500 gaining.
Persons: Dow Jones, Jerome Powell, Jackson, — JPM, Russell, JPM Organizations: Federal, JPMorgan, CPI, Wall, Federal Reserve, Bank of, Nasdaq, Russell
Wells Fargo downgrades Morgan Stanley to underweight from equal weight Wells Fargo downgraded Morgan Stanley and said the "upward premium re-rating seems over." Morgan Stanley initiates Lionsgate Studios at overweight Morgan Stanley said it's bullish on shares of the movie studio company. Morgan Stanley reiterates Tesla as a top pick Morgan Stanley said it's standing by the stock following an analysis of July auto sales. Morgan Stanley upgrades Mobileye to equal weight from underweight Morgan Stanley said the risk/reward is more balanced for the auto supply tech company. " Morgan Stanley reiterates Nvidia as overweight Morgan Stanley says it's sticking with its overweight rating on the AI chipmaker.
Persons: Goldman Sachs, Goldman, Morgan Stanley, Apple, Q, Gildan, Wells, downgrades Morgan Stanley, it's, TD, TD Cowen, Cowen, Raymond James downgrades Crocs, Raymond James, CROX, Oppenheimer, Tesla, Rosenblatt, Lululemon, LULU, K's Organizations: TEAM, Apple Intelligence, Barclays, Deutsche Bank, Amazon, Big Cap Tech, Stifel, Bank of American, Bank of America, Lionsgate, Lionsgate Studios, Intel, of America, TD Cowen, Dynamics, U.S, EV, 7M, UBS downgrades, UBS, Nvidia Locations: California, USA
Traditional Chinese is a written form of Chinese used in Taiwan and Hong Kong. Both locations are key business hubs for technology and finance — a factor that attracted DeepL to launch its latest language in those markets. DeepL, one of Europe's high-profile AI companies valued at $2 billion , sells translation software aimed at businesses rather than everyday consumers. German artificial intelligence translation startup DeepL on Wednesday launched traditional Chinese as a language option as it looks to expand its presence in Asia. With the launch of traditional Chinese, the firm is looking to help some of its international customers more effectively communicate with clients or employees in Taiwan or Hong Kong.
Persons: DeepL, Kutylowski, Mark Zuckerberg's Organizations: Wednesday, CNBC, Google, Microsoft, Ventures Locations: Taiwan, Hong Kong, Asia, The Cologne, Germany, Japan, Korea
The CEO said there's bias skewing conversations about EV growth and what's caused a slowdown. Tesla's Model Y remains the world's best-selling vehicle and the second most popular vehicle from the EV giant is the Model 3 sedan. "Maybe they wanted something that was a little bit bigger, but they got something that was more like the Model Y," Scaringe said. AdvertisementThe CEO said that similarly to the R1, Rivian's R2 is "very intentionally" "not trying all to be a Tesla Model Y." The model will cost $45,000, comparable to Tesla's Model Y, which starts at $43,000.
Persons: , RJ Scaringe, haven't, Scaringe, Tesla, Rivian, It's Organizations: Service, Business, Tesla's, Tesla, EV
UNH 1M mountain UnitedHealth stock over the past month. Think Centene , Molina Healthcare , UnitedHealth and Humana , among others. Managed-care companies historically buck the broader trend of health stocks and outperform in the first year after an election, according to Raymond James. Unlike UnitedHealth, shares have fallen — down 3% — since the June debate. Raymond James sees Oscar Health , HCA Healthcare and Tenet Healthcare as beneficiaries of a victory by the left.
Persons: Raymond James, Chris Meekins, Donald Trump, Joe Biden, quieted, Biden, Meekins, Centene, Trump, Bernstein, Jefferies, David Windley, UnitedHealth, Ben Hendrix, Optum, John Ransom, Piper Sandler, Ransom, Lance Wilkes, Oscar, — Ransom, Oscar's Organizations: Affordable, Trump, UnitedHealth, Republican, Biden, GOP, Federal Trade Commission, Department of Justice, ACA, Medicare, Molina Healthcare, RBC Capital Markets, CVS Health, RBC Capital, DOJ, Humana, Healthcare, GoodRx Holdings, Democratic, Oscar Health, Tenet Healthcare, Aetna Locations: Molina, UnitedHealth, U.S, Thursday's, Florida, Texas
Defense has historically outperformed when there's been a single party in control across Congress and the executive branch — in particular, the Republican Party, according to Wells Fargo analyst Matthew Akers. However, Akers believes the defense sector may not benefit if there's a Republican sweep this election cycle. Another two years of low growth for both defense and non-defense looks likely to us," Akers wrote in a Tuesday note. The firm said a Trump presidency is positive for the defense sector. The firm cited the Republican Party's platform, which highlights a "strong military," restoring peace and "made in America" defense systems.
Persons: there's, Wells, Matthew Akers, Donald Trump, Joe Biden, Akers, Trump, TD Cowen Organizations: GOP, Defense, Republican Party, Democrat, Republican, NATO, Ukraine, Caucus, China, Boeing, " Aircraft, Akers, U.S . Aerospace & Defense ETF, ITA Locations: Wells Fargo, U.S, China, America
Read preview"Try talking with it here," Sam Altman wrote on X, linking to an "early demo" of ChatGPT. AdvertisementIt made OpenAI the poster child of the race to create human-like artificial general intelligence, which has become Altman's stated mission. OpenAI still has no release date for Sora, the model that generates videos based on users' text prompts and was first demonstrated publicly in February. AdvertisementThis month did give OpenAI something to celebrate; Apple announced that it was partnering with the company to bring ChatGPT to iPhones, iPads, and Macs. ChatGPT gave OpenAI a headstart in the race to make AGI.
Persons: , Sam Altman, ChatGPT, Altman's, OpenAI, Scarlett Johansson, Altman, Sora, Sundar Pichai, Claude, OpenAI isn't Organizations: Service, Business, Tech, Microsoft, Apple, Google, Meta, ChatGPT, Chatbot Locations: Silicon Valley, GPT
Former OpenAI board member Helen Toner, who helped oust CEO Sam Altman in November, broke her silence this week when she spoke on a podcast about events inside the company leading up to Altman's firing. Toner also said Altman did not tell the board he owned the OpenAI startup fund. Within a week, Altman was back and board members Toner and Tasha McCauley, who had voted to oust Altman, were out. In March, OpenAI announced its new board, which includes Altman, and the conclusion of an internal investigation by law firm WilmerHale into the events leading up to Altman's ouster. "The review concluded there was a significant breakdown of trust between the prior board and Sam and Greg," OpenAI board chair Bret Taylor said at the time, referring to president and co-founder Greg Brockman.
Persons: Helen Toner, CSET, Vox, Sam Altman, OpenAI, Toner, Altman, Sam, Ilya Sutskever, Jan Leike, Anthropic, OpenAI's, Sutskever, Tasha McCauley, Adam D'Angelo, WilmerHale, Greg, Bret Taylor, Greg Brockman, Taylor Organizations: The Ritz, Carlton, Twitter, OpenAI, Microsoft, Street Locations: Laguna Niguel, Dana Point , California
OpenAI's GPT-4 is better than humans at analyzing financial statements and making forecasts, according to a new study. "Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study found. AdvertisementOpenAI's GPT-4 proved to be a better financial analyst than humans, according to a new study. "Even without any narrative or industry-specific information, the LLM outperforms financial analysts in its ability to predict earnings changes," the study said. AdvertisementThe study utilized "chain-of-thought" prompts that directed GPT-4 to identify trends in financial statements and calculate different financial ratios.
Persons: OpenAI's GPT, , OpenAI's, Sharpe Organizations: Service, Booth School of Business, University of Chicago
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's very rare the Nasdaq outperforms the Dow by more than 10%, says Piper Sandler's Craig JohnsonHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.
Persons: Piper Sandler's Craig Johnson, Brian Sullivan, Organizations: Nasdaq, Dow, CNBC
Gold reached a new record of $2,454.20 per ounce on Monday as markets price in Fed rate cuts. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGold set another record high on Monday as Wall Street readies for monetary policy to ease this year. Given that gold is a safe haven asset, rising international face-offs have prompted more investors to buy the bullion. Meanwhile, US sanctions on Russian reserves sparked central banks to snap up the metal at record pace.
Persons: Gold, , Grzegorz Drozdz, David Miarrions Organizations: Service, P, Trade
Read previewOpenAI rival Cohere has unveiled an updated AI model it says is more useful and cheaper to run than GPT-4. The AI startup says it is rolling out the ability to fine-tune its Command R AI model, allowing it to outperform larger models like GPT-4 in some use cases while costing up to fifteen times less to operate. Similarly, when analyzing financial data Command R was 6.2% more accurate than GPT-4 and 5.3% more accurate than Claude. AdvertisementCohere said that as Command R, which initially launched in March, is significantly smaller than the likes of GPT-4, it costs much less to run. Related storiesFine-tuning on the Command R model is available on Cohere's platform from Thursday, with availability on other platforms coming in the near future.
Persons: , Cohere, Nick Frosst, Claude Opus, Claude, Mark Zuckerberg, Sam Altman, Altman, they're, Frosst, It's, Emad Mostaque, Mustafa Suleyman, We're Organizations: Service, Business, Amazon, GPT, Command, Meta, Intelligence, Stanford University, Cohere, Big Tech, Stability, Microsoft Locations: GPT, Toronto
AI stocks plunged on Wednesday after AMD reported guidance that put a cloud over future AI chip demand. AdvertisementAI stocks plunged on Wednesday after AMD offered analysts 2024 revenue guidance for its AI chip that was below analyst estimates. AMD raised its 2024 revenue guidance for its MI300 AI chip by $500 million to $4 billion. While supply constraints seem to be a headwind for AMD's AI chip business, so too could be competition. The company's MI300 chip is a direct competitor to Nvidia's immensely popular H100 chip, and AMD claims that its chip outperforms Nvidia's.
Persons: , Lisa Su, Goldman Sachs, Nvidia's, Jensen Huang, Huang Organizations: AMD, Micro Computer, Nvidia, Service, Bloomberg, Nvidia's, Stanford Economic
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin outperforms Nasdaq after U.S. economy grew less than projected in Q1: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Nathan McCauley, co-founder and CEO of Anchorage Digital, discusses the platform's new crypto settlement network.
Persons: explainers, Nathan McCauley Organizations: Nasdaq, CNBC Crypto, CNBC, Anchorage Digital
Q1 2024 earnings season has arrived, and Morgan Stanley has some ideas on which stocks have upside. In a recent client note, the bank listed 11 stocks its analysts believe will jump on earnings data. Below, we've listed the stocks along with how much upside they have to price targets. AdvertisementEarnings reports can often be upside catalysts for stocks if a firm outperforms in the prior quarter or issues guidance for stronger revenue. With 2024's first-quarter earnings season entering full swing, Morgan Stanley has some ideas about which other stocks are well-positioned to surge this time.
Persons: Morgan Stanley, , Tesla Organizations: Service, Business
So why are we now feeding Lunchables to children as part of the National School Lunch Program (NSLP)? We are proud of Lunchables and stand by the quality and integrity that goes into making them,” Kraft Heinz said. In Canada, for example, a country that often outperforms the US in public health measures such as vaccination rates, there is no national food program for children. Meals that adhered to a higher nutritional standard were also thrown away less, according to a study published in Childhood Obesity in 2015. A modeling study published in Public Health Nutrition in 2022 estimates a 20% tax would reduce purchases of UPFs by 24%.
Persons: Hasan Merali, , Hasan Merali Chris Hartlove, Kraft Heinz, Lunchables, Fresh, ” Kraft Heinz, UPFs, Tony Organizations: of Pediatrics, McMaster University, CNN, Consumer, British Medical, American, Clinical Nutrition, Public Health Nutrition Locations: Canada, Lunchables, America, Colombia, Chile, France
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