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☆ The 60/40 portfolio is back. Here’s what experts think could happen next
▼ + stars: | 2024-11-15 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

The global 60/40 strategy has seen a 27% cumulative return since 2022 through Oct. 31, according to Vanguard data. Traditionally, stocks and bonds move in opposite directions, which helps lower the volatility of this traditional portfolio. But that didn't work in 2022, when stocks and bonds both suffered and the 60/40 tanked, which had many declaring the strategy dead. The 60/40 portfolio tends to be shorthand for a balanced, diversified portfolio, with specific allocations based on investors' individual needs. For instance, Morningstar's index that reflects a 60/40 portfolio is up about 15% year to date.

Persons: Todd Schlanger, it's, Dan Lefkovitz, Morningstar, Lefkovitz, doesn't, Amy Arnott, Price, Jared Woodard, Woodard, Morningstar's, Vanguard's Schlanger, Schlanger, … Organizations: Vanguard, Morningstar, Commodities, Bank of America, Fund, Bloomberg U.S, U.S .

☆ Matt Gaetz's most controversial moments
▼ + stars: | 2024-11-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

He has also been the subject of multiple House Ethics Committee probes. Related Video House of Representatives tumbles into chaos as fight for new speaker eruptsHere are some of the most controversial moments of Gaetz's career so far:He invited a Holocaust denier to the State of the Union. AdvertisementDemocrats urged the House Ethics Committee to investigate the matter. Advertisement"I'll give you the truth why I'm not speaker," McCarthy said in April 2024. House Ethics Committee probes GatezThe House Ethics Committee opened its probe into Gaetz in 2021.

Persons: Donald Trump, Matt Gaetz, Washington, Gaetz, —, Donald Trump's, Charles C, Johnson, he's, Michael Cohen, Trump's, Nancy Pelosi's, Trump, Gatez, Joel Greenberg, Greenberg, Harry Potter, Gaetz's, Kevin McCarthy, Mike Rogers of, McCarthy, Rogers, I'm Organizations: Service, Justice Department, Committee, Department, FBI, Drug, Administration, Alcohol, Tobacco, Firearms, Explosives, Union, Daily, Fox Business, Oversight, Twitter, Florida Bar Association, Business, DOJ, Washington Post, Republicans, House Armed Services Committee, House Democrats, Republican National Convention, Times, Florida Republican Locations: Washington, Union ., Gaetz, Florida, Mike Rogers of Alabama, Gatez, loggerheads

☆ Eli Lilly stock tumbles 10% after drug giant misses estimates and slashes profit guidance
▼ + stars: | 2024-10-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Eli Lilly on Wednesday fell short of profit and revenue expectations for the third quarter, weighed down by disappointing sales of its blockbuster weight loss drug Zepbound and diabetes treatment Mounjaro, and slashed its full-year adjusted profit guidance. Eli Lilly now expects full-year adjusted earnings of between $13.02 and $13.52 per share, down from previous guidance of $16.10 to $16.60 per share. Eli Lilly also lowered the high-end of its revenue outlook for the year and now expects sales of between $45.4 billion and $46 billion. The weekly injection raked in $1.26 billion in sales for the period, below the $1.76 billion that analysts expected, according to StreetAccount. As of Wednesday, the Food and Drug Administration's drug database said all doses of Zepbound and Mounjaro are available in the U.S. after extended shortages.

Persons: Eli Lilly, Mounjaro, Eli Lilly's Organizations: Novo Nordisk, LSEG, Food Locations: U.S

☆ Japan stock futures mixed as election brings political uncertainty; yen tumbles
▼ + stars: | 2024-10-28 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

TOPSHOT - Officials look on as people vote during the general election at a polling station set up at a local school in Tokyo on October 27, 2024. Japan voted on October 27 in its tightest election in years, with new Prime Minister Shigeru Ishiba and his juggernaut Liberal Democratic Party facing potentially their worst result since 2009. (Photo by Richard A. Brooks / AFP) (Photo by RICHARD A. BROOKS/AFP via Getty Images)Futures for Japan's benchmark Nikkei 225 were mixed Monday after the country saw the ruling Liberal Democratic Party lose its majority in Japan's lower house following elections on Sunday. Public broadcaster NHK has projected the ruling bloc would secure 214 seats, with just one of the total 465 seats undeclared. The opposition Constitutional Democratic Party and the Democratic Party for the People have made significant gains in this election.

Persons: Shigeru Ishiba, Richard A, Brooks, RICHARD A, BROOKS Organizations: Liberal Democratic Party, Getty, Nikkei, Sunday, Public, NHK, Constitutional Democratic Party, Democratic Party for Locations: Tokyo, Japan, AFP, Chicago, Osaka

☆ Stock market today: Indexes trade mixed as traders look to break out of 3-day slump
▼ + stars: | 2024-10-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

A rise in tech stocks fueled the indexes higher after Tesla reported strong earnings. Jobless claims from last week fell unexpectedly to 227,000, a drop of 15,000 from the week before. AdvertisementUS stocks were mixed Thursday morning, as the market tried to break out of a three-day slump following this week's bond sell-off. Investors' exposure to the S&P 500 is the highest since mid-2023 in a signal that's previously preceded a 10% slump, Citi says. Apple stock tumbles after analyst says iPhone 16 orders cut by 10 million units, sees "no evidence" of AI boosting demand.

Persons: Tesla, — Organizations: Dow, Service, Dow Jones Industrial, Treasury, Nasdaq, Investors, Citi, Apple

☆ A Trump victory raises the risk of a US economic situation worse than recession, 'Dr. Doom' Nouriel Roubini says
▼ + stars: | 2024-10-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Nouriel Roubini says stagflation risk will rise if Donald Trump wins the election. AdvertisementThe US economy might confront a fate more challenging than a recession if Donald Trump retakes the White House, famed economist Nouriel Roubini said. According to Roubini, Trump's proposals would fuel these two key ingredients: lower growth and higher inflation. In July, JPMorgan's chief global strategist David Kelly called Trump's tariff and immigration policy mix an "elixir for stagflation." AdvertisementRoubini said tensions in the Middle East make the threat of stagflation under Trump worse.

Persons: Nouriel Roubini, Donald Trump, Doom, —, Donald Trump retakes, Trump, Kamala Harris, stagflation, Roubini, Larry Summers, David Kelly Organizations: Greenwich Economic, Treasury, Service, Bloomberg, Barclays, Republican, Peterson Institute, Trump Locations: Greenwich, Israel, Iran

☆ Spirit tumbles to record low on report it's exploring a bankruptcy filing. Here's how it got here
▼ + stars: | 2024-10-04 | by ( Leslie Josephs | ) www.cnbc.com time to read: +2 min

Spirit Airlines shares tumbled to a record low on Friday after a report that it's exploring Chapter 11 bankruptcy protection. A bankruptcy filing would mark a dramatic turn for the carrier with its iconic yellow planes that caters to budget-conscious travelers. After the JetBlue deal fell apart, Spirit said in January that it was looking at options to refinance its debt. A Spirit spokesman declined to comment on a the Wall Street Journal report that the carrier is considering a bankruptcy filing. Shares of Frontier Airlines, which originally planned to merge with fellow budget airline Spirit before JetBlue swooped in in 2022, surged 16% on Friday.

Persons: Spirit, Brandon Oglenski, we've, Ted Christie, we're, Perella Weinberg Organizations: Spirit Airlines, JetBlue Airways, Pratt & Whitney, JetBlue, Barclays, Journal, Perella Weinberg Partners, Frontier Airlines, Spirit, JetBlue swooped

☆ Bitcoin tumbles back to the $60,000 level as tensions in the Middle East heighten
▼ + stars: | 2024-10-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Around 4:45 p.m. Eastern time, bitcoin slid to as low as $60,175. Crypto exchange Coinbase dropped about 1% and bitcoin proxy MicroStrategy lost 2%, after closing lower by 7.4% and 3.5%, respectively. Stock Chart Icon Stock chart icon Crypto assets tumble to start October and the fourth quarterRising tensions in the Middle East dampened investors' risk appetite as the new trading month and quarter began. "Surging unrest across the Middle East has propelled oil prices upward and reinforced the dollar's strength, casting a shadow over bitcoin and other speculative investments," said Chris Kline, chief operating officer and co-founder of Bitcoin IRA. "Meanwhile, a global monetary tug-of-war is unfolding as various central banks slash interest rates and expand their money supplies."

Persons: Jonathan Raa, Cryptocurrencies, bitcoin, Coinbase, MicroStrategy, Hassan Nasrallah, Chris Kline Organizations: Nurphoto, Getty, bitcoin, Metrics, International Longshoremen's Association, Gulf Coasts Locations: Iran, Israel, Iranian, Lebanon

I wanted to taste a descendant of those ancient peppers, Peru’s native ají amarillo. Now it was time to learn how this distillation of ají amarillo manifested in local dishes. I felt as if this might be the closest I’d yet come to really tasting ají amarillo, its frank optimism, its essence as a fruit. The ají amarillo sauce was frozen into a shimmery yellow dust that turned to leche de tigre on the plate. Then came the soup, made of ají amarillo gone long on the stove with fish stock and fermented corn.

Persons: We’ve, chiles, jolokias, Chiles, amarillo, Lomo, Nicholas Gill, ceviche, Papacho, Rocio Cuba, Pisco Sours, midthrash, couldn’t, Maido, Mitsuharu Tsumura, Tsumura, leche, Ligaya, Luisa Dörr Organizations: chiles, Chorrillos, T Magazine Locations: Peru, Scotch, habaneros, Trinidad, South America, Andes, amarillo, Lima, Spanish, ají, leche, tigre, leche de tigre, La, jaladito, Brazilian, Bahia

☆ Tourists are rushing to see glaciers before they disappear, but trips are turning deadly
▼ + stars: | 2024-09-21 | by ( Laura Paddison | ) edition.cnn.com time to read: +7 min

The three people who lost their lives in Alaska are just a few of those who have died on trips to see the world’s fast-disappearing glaciers. But there’s also another motivation increasingly present — the desire to see the glaciers before they disappear. In Alaska, Sheldon used to be able to find a good area for ice climbing for the whole summer. Many are convinced danger is manageable, he told CNN, but “if you’re honest about it, that might often be a rather naive understanding.”As well the safety issues glaciers pose tourists, tourists are also a huge risk to the glaciers themselves. As the glaciers shift, so too will glacier tourism, something that’s starkly clear to Sheldon.

Persons: Zach Sheldon, Sheldon, Byron, Colin D ., there’s, It’s, Jackie Dawson, ”, Hrafn Sigurjonsson, Sven, Erik Arndt, Arterra, Dawson, Matthias Huss, Huss, “, Passo Sella, Emmanuele, Stefan Gössling, ” Gössling, what’s Organizations: CNN, Alaska Guide Company, Austrian, University of Ottawa, Association of, Association of Iceland Mountain Guides, Companies, Worthington, ETH Zürich, Linnaeus University Locations: Alaska, Valdez Lake, Portage, Chugach, Forest , Alaska, Association of Iceland, American, Iceland, An American, Valdez, Italy, Swiss, Passo, Val Gardena, Sweden, New York, Anchorage

The longest video shows three Israeli soldiers standing on a rooftop. “This is a serious incident that does not coincide with IDF values and the expectations from IDF soldiers,” the military said in a statement to CNN. The governor of Jenin, Kamal Abu Al-Roub, told CNN that the Israeli military took four bodies from Qabatya. “Soldiers went up and kicked and pushed the bodies off the roof, as we have seen. The Israeli military has in recent weeks used increasingly militarized tactics in the occupied West Bank.

Persons: Kamal Abu Al, Ameed, ”, “ Soldiers, “, Mustafa Barghouti, Lauren Izso, Tim Lister Organizations: Jerusalem CNN, West Bank, Israel Defense Forces, Associated Press, CNN, Al, IDF, Israeli Security Agency, Palestinian Ministry of Health, Palestine Red Crescent Society Locations: Jerusalem, Qabatya, Jenin, Qabatiya, Palestinian, Palestine

☆ Trump Media tumbles for a 2nd day after the former president returns to X and interviews with Elon Musk
▼ + stars: | 2024-08-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Shares of Trump Media dropped almost 4% Tuesday following the former president's interview with Elon Musk. Truth Social's latest earnings show the social media company is still struggling to turn a profit. AdvertisementShares of Donald Trump's media company tumbled for a second day on Tuesday after the former president returned to his firm's top rival after a three-year hiatus. In earnings released last week, Trump Media posted a $16 million loss and a decline in revenue in the most recent quarter. Trump's interview with Musk, streamed on X, lasted over two hours and attracted as many as 1.3 million listeners.

Persons: Elon Musk, —, Donald Trump's, Trump, Twitter —, Musk, Kamala Harris Organizations: Trump Media, Elon, Trump, Service, Truth, Capitol, Twitter, Republican, National Association of Black Journalists Conference Locations: Georgia, Chicago, Palm Beach , Florida

☆ The bitcoin bounce could give way to a deeper pullback, chart analysts say
▼ + stars: | 2024-08-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin has clawed back most of its weekly losses after an 11% rally late Thursday, but it is not out of the woods yet, according to chart analysts. "Bitcoin got nicely oversold after slicing through $53,000 [Monday], so a little relief is in order," Ron Ginsberg, a chart analyst at Wolfe Research, told CNBC. It now needs to hold that level on a consecutive weekly closing basis, Fairlead Strategies' Will Tamplin told CNBC. "Our intermediate-term metrics for bitcoin point lower, so we would look for a bounce to give way to a deeper pullback" to near $51,500, he said. "A cyclical uptrend remains in place for bitcoin, although long-term upside momentum behind the uptrend has slowed due to its corrective phase."

Persons: Bitcoin, Ron Ginsberg, Ginsberg, Will Tamplin Organizations: Metrics, Wolfe Research, CNBC

☆ CNBC Daily Open: Dow sheds 1,000 points
▼ + stars: | 2024-08-06 | by ( Abid Ali | Kevin Lim | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Wall Street sinksThe Dow Jones Industrial Average and the S&P 500 suffered their sharpest declines in nearly two years, as growing concerns about the U.S. economy rocked global stock markets. The Dow plummeted over 1,000 points, while the S&P 500 and Nasdaq Composite fell 3% and 3.4%, respectively. Wharton finance professor Jeremy Siegel urged the Federal Reserve to make an emergency 75-basis-point cut in the federal funds rate following Friday's disappointing jobs data. [PRO] Don't panicDespite a global stock market rout, several investors and strategists advised against panicking at this point.

Persons: Berkshire Hathaway, Amit Mehta, Wharton, Jeremy Siegel, Siegel, Austan Goolsbee, Goolsbee, CNBC's, cryptocurrencies, Bitcoin, bitcoin, Nexo, Antoni Trenchev, panicking Organizations: CNBC, Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Tesla, Berkshire, Google, Department of Justice, Federal Reserve, Chicago Federal, bitcoin Locations: U.S

☆ Bitcoin tumbles as risk assets plunge in global market rout
▼ + stars: | 2024-08-05 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Bitcoin dropped on Monday amid the global market meltdown. Crypto has not been spared the carnage as traders eye a growing risk of a US recession. The sell-off in crypto comes as risk assets plunge in a global market rout caused by worries over the state of the US economy. Some market observers have said that the historic market rout could prompt an emergency rate cut from the central bank in the next week. Japan's Nikkei 225 index dropped 12% early Monday in its worst single-day decline since 1987, and markets in South Korea and Europe also plunged.

Persons: Bitcoin, Crypto, —, Gracy Chen Organizations: Service, Federal Reserve, Fed, Japan's Nikkei, Bank of America Locations: South Korea, Europe

☆ Nvidia Tumbles After Reports of Chip Delay
▼ + stars: | 2024-08-05 | by ( Tripp Mickle | More About Tripp Mickle | ) www.nytimes.com time to read: +1 min

Nvidia shares tumbled more than 10 percent in early trading on Monday after reports that the company would delay shipments of its newest artificial intelligence chip, but the stock later rebounded as investors’ concerns about the costs of the delay faded. The Information, a tech news outlet, reported on Friday that Nvidia would be shipping its latest graphics processing unit, or GPU, which make it possible to create A.I. Nvidia said in a statement that production for the chip, which is called Blackwell, was on track for later this year and added that customer orders and interest were high. That expansion means that Nvidia chips will be in demand, he said. “Nvidia’s competitive window is so large right now that we don’t think a three-month delay will cause significant share shifts,” Mr. Rasgon said.

Persons: Blackwell, Stacy Rasgon, Bernstein, “, Mr, Rasgon Organizations: Nvidia, Microsoft

☆ Dow tumbles more than 1,000 points, S&P 500 sees worst day in two years
▼ + stars: | 2024-08-05 | 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 EmailDow tumbles more than 1,000 points, S&P 500 sees worst day in two yearsDavid Kelly, JPMorgan Asset Management chief global strategist and Scott Wren, Wells Fargo Investment Institute senior global market strategist, join 'Closing Bell Overtime' to talk the day's market action.

Persons: David Kelly, Scott Wren Organizations: Dow, JPMorgan Asset Management, Fargo Investment Institute Locations: Fargo

☆ The stock market's recession playbook is in full effect
▼ + stars: | 2024-08-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Investors are de-risking their portfolios amid recession fears, driving a stock-market sell-off. AdvertisementThe stock market's recession playbook is in full swing as suddenly panicked investors look to aggressively de-risk their portfolios amid fears of a downturn. Investors are questioning whether the Federal Reserve waited too long to cut interest rates and whether it's too late to fend off recession. AdvertisementDetailed below are four outperforming areas of the market that make it clear investors are employing the recession playbook:1. "Next's year's pricing makes sense if the US economy falls into recession and/or inflation tumbles below the Fed's 2% target," analysts said of the market's rate-cut expectations.

Persons: —, it's, they've, David Sekera, David Rosenberg, Rosenberg, Ned Davis Organizations: Service, Federal Reserve, Nasdaq, Treasury, Bloomberg, Morningstar, Global, ETF, Rosenberg Research, Ned Davis Research

☆ Dow tumbles more than 550 points as investors fear the US economy is faltering
▼ + stars: | 2024-08-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

New York CNN —Stocks tumbled Thursday after fresh data stoked fears that the US economy is weakening as interest rates stay at a 23-year high. Wage growth is running at a cooler pace and the unemployment rate is now at its highest point in more than two years, at 4.1%. Investors will get their next look at the state of the economy on Friday morning from the July jobs report. Economists polled by FactSet project a net gain of 175,000 jobs — a touch below the average for the past three months — and for the unemployment rate to hold steady. Powell said Wednesday that any significant weakening in the job market would be concerning.

Persons: Stocks, Dow, “, Jerome, Powell, ”, Chris Zaccarelli Organizations: New, New York CNN, Nasdaq, Labor Department, Independent, Alliance, ”, Fed, Investors Locations: New York

☆ Intel lays off 15% of its staff and its stock tumbles as it struggles to turn around its ailing business
▼ + stars: | 2024-08-01 | by ( Ramishah Maruf | Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Intel is slashing 15% of its staff as part of a $10 billion plan to reduce costs, the tech company announced in its second-quarter earnings Thursday. “Our revenues have not grown as expected — and we’ve yet to fully benefit from powerful trends, like AI. The company is holding out hope that the AI investments will pay off. Intel wants to cut the $10 billion by 2025. Other tech earnings falterAmazon’s sales grew 10% last quarter and its operating profit nearly doubled, the company said Thursday.

Persons: “, Pat Gelsinger, Jacob Bourne, TSMC, ” Neil Saunders Organizations: New, New York CNN, Intel, Qualcomm, Texas Instruments, Nvidia, Apple, GlobalData Locations: New York, “, United States

☆ Moderna stock tumbles 21% as earnings show people aren't getting as many COVID shots
▼ + stars: | 2024-08-01 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

Moderna lowered its annual sales forecast as sales of its COVID-19 vaccine dropped by 37%. The company's vaccine sales struggled especially in Europe, where Pfizer has a deal until 2026. AdvertisementPeople are getting fewer COVID-19 shots, and it's hitting former vaccine heavyweight Moderna, new earnings show. The company's second quarter revenue dropped to $241 million, compared to $344 million a year ago, as sales of its COVID-19 vaccine dropped 37% year-over-year. Moderna also lowered its sales forecast for the year to between $3 billion and $3.5 billion, down from its previous forecast of around $4 billion.

Persons: —, it's, Stephane Bancel Organizations: Moderna, Pfizer, Service Locations: Europe, Moderna, Covid

☆ Australia hits new highs after Powell signals possible rate cut in September; Nikkei tumbles over 2%
▼ + stars: | 2024-08-01 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Top view of Seoul in the morning in autumn 2016. Asia-Pacific markets largely rose on Thursday, after comments from U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut could come in September if inflation data remains "encouraging." This comes after the Fed's Federal Open Market Committee meeting concluded Wednesday, where it opted to hold the federal funds rate at its current level of 5.25% to 5.5%. Powell cautioned that a rate cut is not guaranteed, though he also seemed to rule out a 50-basis-point reduction. "I don't want to be really specific about what we're going to do, but that's not something we're thinking about right now," he said.

Persons: Jerome Powell, Powell Organizations: U.S . Federal, Investors Locations: Seoul, Asia, Pacific, U.S, China, Japan, South Korea

☆ Japan's Nikkei tumbles more than 2% as Asia-Pacific markets fall, tracking Wall Street sell-off
▼ + stars: | 2024-07-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Asia-Pacific markets saw a sell off on Thursday, tracking losses on Wall Street as the S&P 500 and Nasdaq Composite saw their worst days since 2022. The broad market index lost 2.31%, closing at 5,427.13, while the tech-heavy Nasdaq slid 3.64% to end at 17,342.41. Meanwhile, Tesla shares declined 12.3% — their worst day since 2020 — on weaker-than-expected results and a 7% year-over-year drop in auto revenue. Over in Asia, investors will assess South Korea's advance second-quarter GDP numbers, which came in slightly below expectations. South Korea's GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters.

Persons: — Organizations: Nasdaq, Dow Jones, Tech, Nvidia, Meta, Reuters Locations: Seoul . Asia, Pacific, Asia

☆ Simone Biles Sticks the Landing - The New York Times
▼ + stars: | 2024-07-25 | by ( Julie Kliegman | ) www.nytimes.com time to read: +1 min

All the signs suggest Simone Biles is ready for it: to return to the Olympic stage and crush her new floor-routine mix that starts with a Taylor Swift song. Ms. Biles stepped aside from several events at the Tokyo Games in 2021 after experiencing anxiety and the “twisties,” a gymnastics term for disorientation while performing midair tumbles. “I have to focus on my mental health,” she told reporters. It’s the rare athlete who can find the courage to speak openly about mental health. star Chamique Holdsclaw has discussed how she resisted revealing her own experience with depression in 2004 because as an athlete, “you’re supposed to be strong, fierce, tough.

Persons: Simone Biles, Taylor, —, Biles, “, ”, she’s, Chamique Holdsclaw, “ you’re, DeMar DeRozan, that’s Organizations: Olympic, Tokyo Games, Games, Toronto Raptors Locations: Paris

☆ Alphabet stock tumbles on mixed earnings results, but Goldman sees 25% upside ahead on AI strength
▼ + stars: | 2024-07-24 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Alphabet stock dropped Wednesday after earnings as Wall Street parsed mixed results. AdvertisementAlphabet stock slid Wednesday as investors digested second-quarter results that beat earnings estimates but fell short in other key areas. The mixed results sent the stock down 5% in Wednesday afternoon trading, but Goldman Sachs analysts say they remain optimistic about the company's artificial intelligence opportunities. Goldman Sachs was upbeat in its analysis, raising Alphabet's price target from $211 to $217 in a note after the company released earnings. AdvertisementGoldman says its optimism comes largely from Alphabet's AI opportunity.

Persons: Goldman Sachs, —, Goldman, Sundar Pichai, Pichai Organizations: Service, YouTube, Wall

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