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☆ Chart analysts see market correction coming after temporary debt ceiling-deal euphoria
▼ + stars: | 2023-05-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

But market breadth, or the measure of how wide-reaching a rally is, has ebbed. CanaccordGenuity technical analyst Javed Mirza said in a note to clients on Monday that an "intermediate-term equity market correction looms" if market breadth does not improve. Over the past three months, the Nasdaq 100 has gained more than 18%, and the S & P 500 has advanced nearly 6%. Meanwhile, the Invesco S & P 500 Equal Weight ETF (RSP) has fallen more than 3%. According to Bespoke Investment Group, 90 stocks in the S & P 500 have hit 52-week highs this month.

However just ahead of the expected call between Biden and McCarthy, Republican deal negotiator Patrick McHenry told reporters "major disagreement" remained between his party and Biden's Democrats. That's what we've offered with our approach to raising the debt ceiling, with work requirements for able bodied folks to get back in the workforce. The two sides have tentatively reached an agreement that would raise the debt ceiling by enough to cover the country's borrowing needs through the November 2024 presidential election. Republican Representative Dan Bishop reacted with anger to the idea of extending the debt ceiling through the next presidential election. A failure by Congress to raise its self-imposed debt ceiling before June 5 could trigger a default that would shake financial markets and send the United States into a deep recession.

☆ Alibaba to cut 7% of workforce in its cloud unit as it pursues IPO for the division
▼ + stars: | 2023-05-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Alibaba Cloud, the cloud computing subsidiary of Alibaba, unveiled its ChatGPT-style product Tongyi Qianwen during the 2023 Alibaba Cloud Summit on Tuesday morning. Alibaba is cutting 7% of the workforce in its cloud computing division as the unit gears up for an initial public offering. Last week, the company announced plans for a full spin-off of its cloud computing unit and said it intends for the division to become an independent publicly listed company. Alibaba's CEO Daniel Zhang has long-seen cloud computing as a key part of the e-commerce giant's future but it currently accounts for just 9% of the group's total revenue. TikTok owner ByteDance began moving its international operations off of Alibaba's cloud which continues to weigh on the company's cloud business.

Persons: Alibaba, Daniel Zhang, Zhang, ByteDance Organizations: Alibaba, CNBC, Synergy Research, Microsoft, Google Locations: China, Asia, Pacific

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, DraftKings, Nike, Snowflake & more
▼ + stars: | 2023-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Piper Sandler names Microsoft, Snowflake and Oracle top AI picks Piper said that Microsoft, Snowflake and Oracle are the next "all-stars" in AI. Citi adds a negative catalyst watch on Nike Citi said Foot Locker's negative earnings report last week does not portend well for Nike. Citi downgrades Foot Locker to neutral from buy Citi downgraded Foot Locker after its disappointing earnings report last week and says shares are not fully de-risked. Deutsche Bank reiterates Snowflake as buy Deutsche says it's "constructive" heading into Snowflake earnings on Wednesday. Bank of America reiterates Alphabet as buy Bank of America says the internet search giant is "well positioned for mobile."

☆ As the Nasdaq recovers half of its bear market losses, signs of broader strength emerge
▼ + stars: | 2023-05-20 | by ( Michael Santoli | ) www.cnbc.com time to read: +6 min

This particular conversation has been chewed over pretty thoroughly, and I've hit on it last week and the week before . And perhaps more relevant, last week saw at least tentative signs of a desired broadening out. It's worth pointing out too that the recent surge in the familiar Nasdaq megacaps has a lot to do with mean reversion, after the Nasdaq lagged the equal-weighted S & P 500 in 2002 by 20 percentage points. The NDX has been in a long-term structural uptrend relative to the S & P 500 for the past decade. As noted, the S & P 500 touched 4,200 late in the week before easing back a bit.

☆ Amazon's Alexa head says company is 'at the forefront of A.I.' as chatbots explode
▼ + stars: | 2023-05-17 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

That's pressured companies like Amazon to showcase their own capabilities in generative AI. Amazon's biggest entry into the market thus far has been through an AI service for cloud customers. However, Rohit Prasad, Amazon's senior vice president and head scientist for Alexa, said it's wrong to think the e-retailer has missed out in generative AI, which allows people to convert text-based queries into creative and thorough answers. "Alexa has been and is at the forefront of AI for a long time," Prasad told CNBC in an interview. Large language models power generative AI, and Alexa is already powered by Amazon's LLM.

Major players are hoping that the SEC and Washington takes, what crypto watchers see as bluffs, seriously and soften the hard line that regulators have taken on the industry. Coinbase CEO Brian Armstrong said last week that the SEC was on a "lone crusade" with its tough actions against certain crypto companies. "The SEC is a bit of an outlier here," Armstrong told CNBC's Dan Murphy in an interview in Dubai. But he's created some lawsuits, and I think it's quite unhelpful for the industry in the U.S. writ large." "The biggest fear of crypto companies is that regulation will cause panic among crypto investors and prices will go down.

☆ Investors would be wise to heed these lessons from the 'retail apocalypse' as office values reset
▼ + stars: | 2023-05-14 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +7 min

Still, it is also true that a lot of disruption occurred in between the events that prompted the "apocalypse" chatter and the firmer ground where retail real estate stands today. Recalling how these events played out is helpful in understanding the situation facing U.S. office properties. For office buildings, the pandemic knocked things out of whack. The same idea is being discussed for office buildings, but one-size will not fit all. There may be no surprise that there has been a huge drop-off in the number of loans with office properties as collateral since March.

☆ Morgan Stanley expects an area of tech to boom into a $5 trillion opportunity and names 3 stock picks
▼ + stars: | 2023-05-09 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

E-commerce is set for a boom, according to Morgan Stanley, which predicts that the industry will be worth $5 trillion by 2027. "We largely saw a focus on profitability over growth emerge through 2022," Morgan Stanley analysts wrote. Morgan Stanley picked stocks to play the boom, choosing them based on their "outsized growth potential," market leadership and "attractive" trading multiples relative to history, among other factors. Amazon Morgan Stanley noted that although Amazon has around 37% of the U.S. e-commerce market, it has captured only 9% of U.S. retail sales. MercadoLibre Morgan Stanley said it sees MercadoLibre as a "share gainer" in a region that still has a "multiyear eCommerce penetration opportunity."

☆ Warren Buffett owns these stocks, and analysts love them too
▼ + stars: | 2023-05-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Analysts are bullish on some of the stocks owned by Warren Buffet's Berkshire Hathaway . Still, some of the "Oracle of Omaha's" stocks are also well liked by analysts on Wall Street. CNBC Pro looked through his portfolio to find companies that met the following criteria: 55% or more of the analysts covering the stocks have a buy rating. Topping the list is Taiwan Semiconductor , with 83% of analysts rating it as buy and the average price target pointing to upside of 25%. The stock has buy ratings from 55.6% of analysts covering it, and the average price target suggests it could go up 40%.

☆ Here are Friday's biggest analyst calls: Apple, Coinbase, Western Alliance, Playboy, SolarEdge & more
▼ + stars: | 2023-05-05 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple is "delivering under pressure" after its earnings report on Thursday. Guggenheim upgrades Portillo's to buy from neutral Guggenheim said it sees multiple expansion for the restaurant chain. Goldman Sachs downgrades Atlassian to neutral from buy Goldman said the company's "cloud transition [is] likely taking longer than expected." UBS upgrades Shopify to neutral from sell UBS said in its upgrade of Shopify that it sees revenue upside. Jefferies initiates Playboy Group as buy Jefferies said it sees "significant upside" for the adult themed global media and lifestyle company.

☆ How The Legend of Zelda Changed the Game
▼ + stars: | 2023-05-04 | by ( Zachary Small | Rumsey Taylor | ) www.nytimes.com time to read: +17 min

More than six million people watched the preview for hints about the next video game in Nintendo’s beloved Legend of Zelda franchise. Tears of the Kingdom, the next entry in the Legend of Zelda franchise, will encourage players to manipulate and combine objects to fight enemies and explore Hyrule. The immersive gameplay of the Zelda franchise is bolstered by its deep mythology , convincing players they are unearthing ancient secrets. Retrieving the Master Sword often marks the point in a Zelda game when the difficulty spikes and the stakes are raised. Clockwise, from top left: The Legend of Zelda (1986), A Link to the Past (1991), Ocarina of Time (1998) and The Wind Waker (2002).

☆ E. Jean Carroll's friend testified she urged the writer to go to the police minutes after alleged Trump rape
▼ + stars: | 2023-05-02 | by ( Ashley Collman | Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Day five of the E. Jean Carroll trial started with testimony from the writer's friend Lisa Birnbach. Birnbach said Carroll called her minutes after her alleged rape by Donald Trump in the mid-1990s. Carroll was "hyperventilating" and appeared to be "still processing" while recalling the alleged rape, Birnbach said. "No, no, no, I'm not going to the police," Birnbach recalled Carroll saying. E. Jean Carroll and Donald Trump.

☆ Here are Thursday's biggest analyst calls: Apple, Meta, Amazon, Ford, Activision Blizzard & more
▼ + stars: | 2023-04-27 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Thursday's biggest calls on Wall Street: Bernstein reiterates Apple as market perform Bernstein said it remains "torn" on Apple heading into earnings next week. Morgan Stanley reiterates Meta as overweight Morgan Stanley raised its price target on the AI beneficiary to $300 per share from $250 after the company's earnings report Wednesday. " Morgan Stanley reiterates Ford as overweight Morgan Stanley said it's standing by its overweight rating heading into earnings next week. Citi reiterates Amazon as buy Citi said it's bullish on the e-commerce giant heading into earnings on Thursday after the bell. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said the stock is one of the firm's top picks heading into earnings in May.

☆ CNBC Daily Open: A regional bank casts a shadow over Big Tech
▼ + stars: | 2023-04-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Big Tech continues its winning streak, but it wasn't enough to ignite a broader rally in markets because of fears reignited by First Republic. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech continues its winning streak, but it wasn't enough to ignite a broader rally in markets. On Wednesday, Microsoft rallied 7.24% on the back of a strong earnings report that was boosted by a jump in revenue from its Intelligent Cloud business segment. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: A regional bank overshadows Big Tech
▼ + stars: | 2023-04-27 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Big Tech continues its winning streak, but it wasn't enough to ignite a broader rally in markets because of fears reignited by First Republic. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Big Tech continues its winning streak, but it wasn't enough to ignite a broader rally in markets. Any sign of weakness in a bank is enough to send waves of fear throughout investors and make them forget, if only temporarily, the promises of Big Tech. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ AI chatbots like ChatGPT appear to be leaving product reviews on Amazon
▼ + stars: | 2023-04-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Some Amazon users appear to be employing AI chatbots to write product reviews, CNBC first reported. CNBC conducted a search on Amazon product reviews and found many that said they weren't written by humans. Similar Amazon reviews that contained the phrase "as an AI language model" also appear on a LED aquarium light, waist trimmer, and children's workbook. These reviews may be the next frontier of fake Amazon product reviews, an issue that Amazon has dealt with in the past. While the AI-generated reviews still appear on the site, the Amazon spokesperson said that it will remove product reviews it deems fake.

☆ Here are Tuesday's biggest analyst calls: Meta, Tesla, Amazon, Nike, Hasbro, First Republic & more
▼ + stars: | 2023-04-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Citi upgrades Squarespace to buy from neutral Citi said it sees an "improved growth outlook" for the website hosing company. Citi reiterates Netflix as buy Citi said it sees more upside in shares of Netflix. Credit Suisse upgrades Zebra Technologies to outperform from neutral Credit Suisse upgraded the computer technology company due to Zebra' s strength in Europe. Credit Suisse reiterates Amazon as outperform Credit Suisse said it's standing by shares of Amazon heading into earnings later this week. Citi reiterates Meta as buy Citi said it's staying bullish heading into Meta earnings on Wednesday. "

☆ Technology’s year of efficiency faces it first major test: overcoming declining earnings expectations
▼ + stars: | 2023-04-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Technology's year of efficiency faces its first major test this week as big technology earnings kick into high gear. Across the information technology sector, earnings are expected to decline 15.1% year over year, according to FactSet data. The setup for technology stocks It's hard to pinpoint one specific problem denting earnings expectations this season. Heading into the second quarter, many technology companies already face lowered earnings expectations, with analysts lowering earnings estimates for the information technology sector in the first quarter by 6.5% in aggregate, according to FactSet data. "We plan on being either not in any of these names or hedged or short some of them going into earnings season," Niles said.

☆ Here are the biggest winners from Bed Bath & Beyond's bankruptcy filing
▼ + stars: | 2023-04-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday after failing to raise enough money to stay in business. The company is asking a New Jersey bankruptcy court permission to auction its namesake and Buy Buy Baby brands. "Comments from BBBY suggest that if a buyer of the company does not emerge, management plans to gradually wind down operations. The company currently operates 360 namesake locations and 120 Buy Buy Baby stores. "We are hard-pressed to envision Wayfair shares moving appreciably higher until the company's business model showcases improved, broad-based fundamental momentum.

☆ Microsoft-backed tech group pushes for A.I. regulation: Here's what it's suggesting
▼ + stars: | 2023-04-24 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

BSA, a tech advocacy group backed in part by Microsoft , is advocating for rules governing the use of artificial intelligence in national privacy legislation, according to a document released on Monday. Microsoft is one of the leaders in AI due to its recent investment in OpenAI, the creator of the generative AI chatbot ChatGPT. The group is advocating for four key protections:Congress should make clear requirements for when companies must evaluate the designs or impact of AI. "If it is, we should have a national agenda for digital transformation," he said, which would include rules around AI, national privacy standards and robust cybersecurity policy. Though the bill still faces a steep road ahead to becoming law, BSA said it already has the right framework for the sort of national AI guardrails the government should put in place.

☆ Earnings playbook: Your guide to a busy week of earnings, featuring Meta and Amazon
▼ + stars: | 2023-04-24 | by ( Fred Imbert | ) www.cnbc.com time to read: +13 min

What history shows: GM has reported a better-than-expected bottom line in 29 of the last 30 quarters, per FactSet. McDonald's is set to report earnings in the premarket, with management slated to hold a call at 8:30 a.m. What history shows: History shows Google's parent company beats earnings expectations 68% of the time, with the stock averaging a gain of 1.6% on earnings day, per Bespoke. Meta Platforms is set to report earnings after market close, followed by a conference call at 5 p.m. What history shows: Bespoke data shows Intel beats earnings expectations 77% of the time.

☆ Climate change activists protest at Berlin Formula E race
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 23 (Reuters) - Climate change activists delayed the start of an all-electric Formula E race at Berlin's Tempelhof airport circuit on Sunday after they climbed fences and sat in front of cars lined up on the starting grid. Letzte Generation (Last Generation) posted video on Twitter of white T-shirted supporters scaling the wire fence before being carried away by security. A Formula E spokesperson said the protest was "unrelated to the event". read moreBritain's Grand National horse race was delayed by animal rights protesters, with 118 people arrested read more . Twenty five people were also arrested at Saturday's Scottish Grand National.

☆ Here are Friday's biggest analyst calls: Amazon, Tesla, CVS, Microsoft, XPO, AT&T, Spotify & more
▼ + stars: | 2023-04-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Alphabet as buy Bank of America says it's bullish heading into Alphabet earnings next week. JPMorgan reiterates Amazon as a best idea JPMorgan says it's bullish heading into the e-commerce giant's earnings report next week. "We continue to see streaming music & audio as an attractive growth market and remain OW WMG and SPOT." Stephens initiates SentinelOne as overweight Stephens initiated the cyber security company with an overweight and says it has "best-in-class growth." JPMorgan reiterates Charles Schwab as overweight JPMorgan says Charles Schwab could be worth more if it were to "de-bank."

☆ Meta and Disney begin cutting jobs. Here's a rundown of all Club names planning major layoffs
▼ + stars: | 2023-04-20 | by ( Paulina Likos | ) www.cnbc.com time to read: +10 min

The list includes Meta Platforms (META) and Walt Disney (DIS). META YTD mountain Meta's stock performance year to date. The March layoff plan was in addition to the 11,000 job cuts disclosed in November. As part of this effort, Disney announced in February it was planning roughly 7,000 total job cuts in a series of three rounds. Amazon (AMZN) CEO Andy Jassy announced 18,000 job cuts in early January impacting retail and recruiting operations .

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