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☆ Amazon Prime Video viewers have been ditching shows because of its error-plagued catalog system, leaked docs show
▼ + stars: | 2024-04-16 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

Amazon has invested billions of dollars in Prime Video to secure original content and live-streaming rights. CEO confidenceIn Amazon's recent annual shareholder letter, CEO Andy Jassy showed his continued support for Prime Video. "We have increasing conviction that Prime Video can be a large and profitable business on its own," he wrote. Among the top "catalog quality issues" were incomplete or inconsistent titles, as well as a "Season Integrity" problem. Multiple posts about wrong movie titles on Prime Video can also be found on Amazon's forum and Reddit.

Persons: Amazon, Andy Jassy, Video's headcount, they're, Anthony Palomba, Palomba, It's Organizations: Amazon, Business, MGM, BI, Prime, Citadel, House, Amazon's, University of Virginia

☆ A top Nvidia shareholder reveals his trigger for selling growth stocks
▼ + stars: | 2024-04-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Nvidia shares have continued to soar this year, up more than 80%. "We emphasize risk management much more than many growth investors," Shant told CNBC Pro. When should investors sell growth stocks? When asked about the right time to sell a growth company like Nvidia, Shant pointed to the firm's latest research note titled "Buy and Hold Forever?" [As in] they can't actually make enough to meet expectations in that quarter," Shant told CNBC's Squawk Box Friday.

Persons: they've, Raj Shant, Shant, We're, CNBC's, Jennison, Morgan Stanley Organizations: Nvidia, Jennison Associates, CNBC Pro, Global Equity, Novo Nordisk, Norges Bank, Barclays

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

I like putting money in CDs, and one option that will help long-term with taxes is a SEP IRA CD. I started moving money between high-yield savings accounts, CDs, and other passive income-earning investments like REITs and dividend stocks. Interest and earnings from savings accounts, CDs, and other investments are considered taxable income. Instead, after paying my taxes, I reassess how much money of interest income I actually made and decide how to use the cash then. However, unlike a regular CD, CDs in your retirement fund have contribution limits set by the IRS.

Persons: — Organizations: Service, IRS

☆ Citi's plan to turn its wealth business around: get 'low performing' bankers to meet expectations and push investment products
▼ + stars: | 2024-04-12 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAndy Sieg has been quick to make his mark on Citi's ailing wealth unit since taking over the business in September. Some of his efforts are paying off, such as pushing investment products for existing clients to reduce reliance on loans and deposits. AdvertisementIn late September, Citi promoted its North American investment head, Kris Bitterly, to a new role overseeing investments globally. Adding investment assets has become a bigger part of private banker bonuses, according to The Wall Street Journal.

Persons: —, Andy Sieg, Mark Mason, Mason, Jane Fraser, Fraser, Kris, Sieg, Hale Behzadi, Merrill Lynch, Don Plaus Organizations: Service, Revenue, Business, Citi, London, North, Wall Street

☆ Fidelity targets the next generation of investors with teen-inspired portfolios
▼ + stars: | 2024-04-11 | by ( Tessa Campbell | ) www.businessinsider.com time to read: +9 min

They're available through the Fidelity Youth app and target market sectors that young investors are most interested in. AdvertisementTeens can access Youth Baskets without paying the $4.99 monthly Fidelity Basket Portfolios subscription. However, teen-inspired baskets don't have the same flexibility and customization as regular Fidelity Basket Portfolios. How to invest in Fidelity Youth BasketsAnyone aged 13-17 with an active Fidelity Youth account can invest in Fidelity Youth Baskets free of subscriptions or additional fees. Investors 18 and up must pay the $4.99 subscription fee to access Fidelity Basket Portfolios.

Persons: —, Kelly Lannan, we've, Said, they'll Organizations: Fidelity, Service, Social Media, Fidelity Investments, Entertainment Fidelity, Apple, Netflix, Disney, Entertainment

☆ Big corporations are quietly taking over your medical practice. Some doctors and experts say it's ruining healthcare.
▼ + stars: | 2024-04-11 | by ( ) www.businessinsider.com time to read: +17 min

UnitedHealth Group struck a deal in March to buy the nine-state doctor group of the struggling hospital system Steward Health Care. AdvertisementDoctors are hot commoditiesIt's tough to lump the many buyers of medical practices together, as they're pursuing different strategies. Insurers like UnitedHealthcare and CVS' Aetna are required by federal law to spend most of the money they collect in premiums on medical care. Plus, running a modern medical practice is expensive, requiring investments in staffing, technology, and electronic health records. Advertisement"The corporate practice of medicine is the reason why healthcare costs are out of control," Li said.

Persons: —, UnitedHealth's Optum, That's, UnitedHealth, there's, They're, Farzad Mostashari, UnitedHealth's chokehold, Chas Roades, Yashaswini Singh, Singh, Roades, Nick Jones, they're, Optum, Jones, Mitch Li, Li, Michelle Cooke, Cooke, she's, Ben Bowman, Bowman Organizations: Service, UnitedHealth, Health Care, CVS Health, Walgreens, Physicians, Research, US Justice Department, CVS, Aetna, Brown University, Harvard Medical School, Oregon Medical Group, JAMA, Amazon, The Washington Post, Federal Trade Commission, US Department of Justice, Department of Health, Human Services, Oregon State, Corvallis Clinic Locations: Oregon, New York, UnitedHealth, Optum, California, The, Atlanta

☆ Here are 3 dividend stocks that could offer passive income, fund managers say
▼ + stars: | 2024-04-10 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

In a market where finding reliable passive income streams can be challenging, two fund managers have shared their insights on dividend stocks that could offer attractive yields and growth potential. Broadcom One such stock Burdett highlighted is Broadcom , a semiconductor and software company. Orange Another stock Burdett finds compelling is Orange SA , a French telecommunications company with a current dividend yield of 6.8%. ORA-FR 1Y line While the stock price has remained relatively unchanged this year, Wall Street expects it to rise by 25% to 13.25 euros. The spun-off cereal business of Kellogg Company, now known as Kellanova .

Persons: Matt Burdett, Burdett, Thornburg, MASMOVIL, ORA, WK Kellogg Brian Leonard, Keeley Teton, Leonard, Leonard citied WK Kellogg, Mills, WK Kellogg Organizations: Thornburg Investment, Broadcom, CA Technologies, VMware, Wall, Orange, Burdett, Orange SA, CNBC Pro, Leonard citied WK Kellogg Co, Kellogg Company Locations: Burdett, United States, French, U.S, Orange, France

☆ Elon Musk's xAI is luring more investors through special purpose vehicles charging high fees
▼ + stars: | 2024-04-10 | by ( Kali Hays | ) www.businessinsider.com time to read: +3 min

Elon Musk is raising funds for xAI at a $15 billion pre-money valuation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk's new AI startup is luring more investors through special purpose vehicles that charge hefty fees, according to an email sent this week. Related storiesThe email lays out the terms if investors want to take part in the xAI financing round through special purpose vehicles. AdvertisementFor prospective xAI investors, these commitments come at a cost.

Persons: Elon Musk, —, Elon, Musk, Kali Hays Organizations: xAI, Twitter, Service, Business Locations: khays@businessinsider.com

☆ AI fever is triggering a new hunt for tech talent on Wall Street. 5 recruiters outline in-demand tech roles that can pay from $250,000 to $2 million.
▼ + stars: | 2024-04-09 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWall Street firms are switching into hiring gear. Banks, hedge funds, and private equity firms are back on the hunt for tech talent, several recruiters told Business Insider. Across the Street, finance firms are witnessing the AI transformation being led by tech giants like OpenAI and Nvidia. Hodzic added that, on average, the technology business at Selby Jennings is registering 25% more job orders a week compared to this time last year.

Persons: —, Giancarlo Hirsch, Deepali Vyas, she's, Vyas, Ben Hodzic, Selby Jennings, Hodzic, Glocomms, Hirsch, whittle, Banks, Andy Legg, Dennis Baden, Baden, Korn Ferry's Vyas Organizations: Service, Finance, Business, Blackstone, JPMorgan, Vyas, Nvidia, They're, Wall, Riviera Partners, Google, Banks Locations: Selby

☆ Academics used AI and machine learning to test 29,000 financial ratios. Here's the metric they found was the best predictor of stock-market returns.
▼ + stars: | 2024-04-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

Determining the best predictors of stock-market returns is like seeking the Holy Grail for investors. They also allowed the algorithm to come up with its own ratios in an attempt to determine whether there are better indicators of stock-market performance. Examples of variables included sales, market value, and cost of goods. The data points were then scaled using ratios to correlate a company's sales revenue to other variables, such as its size. Robbins noted that traditionally, academics begin with a theory for why certain company fundamentals could be good predictors of stock market returns before testing them.

Persons: Alejandro Lopez, Lopez, Andrew Y . Chen, Tom Zimmermann, Michael Robbins, Lira, ChatGPT, Robbins, It's Organizations: Lira, University of Florida, University of Cologne, Institutional, Investors, New York Stock Exchange, American Stock Exchange, Nasdaq, Lopez

☆ BlackRock says this is the 'last best opportunity' to buy these bonds
▼ + stars: | 2024-04-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

"We believe the recent back up in rates is probably the last best opportunity to extend duration," wrote Gargi Pal Chaudhuri, chief investment and portfolio strategist, Americas, at BlackRock. Generally speaking, the value of a bond goes up as interest rates go down, with longer-dated bonds seeing the biggest gains. While bond funds have been seeing inflows this year, there are still plenty of investors with excess cash in short-term accounts. Different funds that offer that type of exposure include the iShares 3-7 Year Treasury Bond ETF (IEI) , the SPDR Portfolio Intermediate Term Treasury ETF (SPTI) and the Vanguard Intermediate-Term Treasury ETF (VGIT) . Investors shouldn't go overboard with adding duration, because the long-term bonds on the market carry extra risk, Akullian said.

Persons: BlackRock's, Gargi Pal Chaudhuri, Kristy Akullian, It's, Akullian, Investors shouldn't Organizations: Treasury, Federal, Investment Company Institute, BlackRock, CNBC, Treasury Bond ETF, Research, Investors Locations: Americas, BlackRock, US10Y

☆ Move over, 'Big Tech' — this strategist says 'old economy' industrial and energy names will win in 2024
▼ + stars: | 2024-04-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The strategist highlighted the industrial and energy sectors, which he said should benefit from reports of a robust American economy. The stock is also already outperforming the S & P 500 this year, up nearly 29% year to date. As a group, industrials have gained 10.3% this year, or a little less than 1% above the S & P 500. After a rocky 2023, energy has established itself as one of the S & P 500's top outperformers in 2024. Among energy stocks, Tentarelli favors refiners.

Persons: Larry Tentarelli, Tentarelli, industrials, refiners, Phillips Organizations: Blue, General Electric, GE Healthcare, Valero, Banking, JPMorgan

☆ 2 college friends who started selling custom T-shirts on campus with a $500 budget explain how they grew their fraternity-house merch project into a seven-figure business
▼ + stars: | 2024-04-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

By the time Shanadi started his freshman year at the University of Florida, he had nearly a decade of work under his belt. His first brand, Greek House, while "a little bit of an accident," admitted Shanadi, was set in motion. It allowed him and McGurrin to launch Greek House with the limited savings they had. They dedicated weeknights and weekends to growing Greek House. Quitting corporate America, living on $1,000 a month, and learning from a $33,000 mistakeIn 2016, Shanadi quit his job to go all-in on Greek House.

Persons: Karthik Shanadi, Shanadi, Luke McGurrin, Luke, McGurrin, We'd, LUKE SIRIMONGKHON, Brian Chesky, that's, we've, we're Organizations: Business, University of Florida, New, Amazon, House, of Florida, Follett, Dick's Sporting Goods Locations: Bangalore, India, Orlando, New York City, Florida, California, Bay, Los Angeles, America, Salesforce, LA

☆ The world is scarred from China shock 1.0. They're not about to let 2.0 happen so easily.
▼ + stars: | 2024-04-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +8 min

This could create a "China shock 2.0" that impacts other economies around the world. AdvertisementThis is just one of the industries the world is bracing for in the next phase of the "China shock." What happened in China shock 1.0? How Beijing could be creating China shock 2.0Now, China is targeting three new strategic industries that the rest of the world is also eyeing. What are the US and the rest of the world doing about China shock 2.0?

Persons: —, Xi, David H, Autor, David Dorn, Gordon H, Hanson, Rajiv Biswas, who's, Biswas, keener, Janet Yellen, Yellen, it's, Wang Wenbin, Wang, Nomura Organizations: Service, Beijing, OECD, European Union, Department of Energy, Treasury, European Commission, EU, Act, Wall Street, Bloomberg Locations: China, EU, Beijing, Communist China, Georgia, Southeast Asia, Africa, Latin America

☆ The semiconductor supply chain is the most sensitive to shocks, fund manager says
▼ + stars: | 2024-04-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe semiconductor supply chain is the most sensitive to shocks, fund manager saysVikas Pershad, fund manager at M&G investments, discusses the state of global supply chains in the wake of the Taiwan earthquake, Baltimore bridge collapse and Red Sea disruptions.

Persons: Vikas Pershad Locations: Taiwan, Baltimore

☆ Billionaire hedge-fund boss Steve Cohen says a 4-day workweek is coming — and it's part of why he made a big investment in golf
▼ + stars: | 2024-04-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

A four-day workweek is inevitable thanks to AI, the billionaire hedge-fund boss Steve Cohen says. AdvertisementA four-day week is coming to the workplace, the hedge-fund giant Steve Cohen said. "My belief is a four-day workweek is coming," Cohen said. While Cohen expects a four-day workweek to eventually become reality, it probably won't for his employees or anyone else employed by investment firms. That is, unless the stock market also decides to adopt a four-day workweek.

Persons: Steve Cohen, Cohen, " Cohen, workweek Organizations: Asset Management, CNBC, New York Mets, PGA

☆ Disney's fight with Nelson Peltz will come to a head tomorrow. Here's where things stand.
▼ + stars: | 2024-04-02 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

A vote for the Disney's slate of board members will show support for Iger's performance as CEO since he returned to lead the company in November 2022. AdvertisementIt's the culmination of months of tussling between Disney and Peltz, who has been waging war against Disney's board since January last year. "When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership." And proxy advisory firm Institutional Shareholder Service recommended shareholders vote for Peltz, though not Rasulo. Advertisement"We wish the very best to Bob, this management team, and the board," Peltz said on CNBC at the time.

Persons: —, Bob Iger, Nelson Peltz's Trian, that's, Peltz, Jay Rasulo —, Maria Elena Lagomasino, Michael Froman, Gen, Alpha, Jason Schloetzer, BlackRock, Rowe Price, Iger, Roy Disney's, Laurene Powell Jobs, George Lucas, Lucas, Bob Iger's, Donald Duck's, Ludwig Von Drake, Schloetzer, Trian, That's, Neuberger Berman, Ike Perlmutter, he'd Organizations: Service, Disney, Nelson Peltz's Trian Partners, Business, Century Fox, Epic Games, Georgetown University's McDonough School of Business, Vanguard, Street Journal, ValueAct Capital, Walt, Star Wars, Lucasfilm, New York Times, California Public Employees, CNBC, Netflix, ABC, ESPN, Marvel, Financial

☆ Mandarin Shipping on shipping outlook after Baltimore bridge collapse
▼ + stars: | 2024-04-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShipping will be more volatile, but has a 'remarkable ability' to bounce back: Mandarin Shipping CEOTim Huxley, CEO of the shipping investment company, discusses the outlook for global supply chains in the wake of the Baltimore bridge collapse.

Persons: Tim Huxley Organizations: Email Shipping, Mandarin Shipping Locations: Baltimore

The companies announced an initial $1.25 billion investment in September, and said at the time that Amazon would invest up to $4 billion. The deal was struck at the AI startup's last valuation, which was $18.4 billion, according to a source. Over the past year, Anthropic closed five different funding deals worth about $7.3 billion — and with the new Amazon investment, the total exceeds $10 billion. News of the Amazon investment comes weeks after Anthropic debuted Claude 3, its newest suite of AI models that it says are its fastest and most powerful yet. But multimodality, and increasingly complex AI models, also lead to more potential risks.

Persons: Claude, Anthropic, OpenAI's, what's, Swami Sivasubramanian, OpenAI's ChatGPT, OpenAI, Microsoft's OpenAI, Anthropic's Claude, Daniela Amodei, We've, Tesla, Brendan Burke, Bill Gurley, Gurley, Microsoft's, Lina Khan Organizations: Amazon, Google, CNBC, Fortune, Nvidia, Microsoft, Apple, U.S . Federal Trade Commission Locations: San Francisco, Anthropic, OpenAI

Here's a rapid-fire update on all 33 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Amazon's recent AI moves have been impressive, specifically its close relationship with fellow Club holding Nvidia and, most recently, its multibillion-dollar venture investment in startup Anthropic. Best Buy : We added the electronics and appliance retailer to the portfolio shortly after the Monthly Meeting concluded. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, Jim Cramer, Reckitt Benckiser, Abbott, We've, Here's, Salesforce, that's, Walt Disney, Nelson Peltz, Estee Lauder, he'd, Ford, We're, we'll, Vimal Kapur, Kapur, Linde, Eli Lilly, TikTok, Meta's Ray, Morgan Stanley, Reddit, Morgan, Ted Pick, he's, it's, Stanley Black, Decker, TJ Maxx, Wells, Wynn, Spencer Platt Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Department of Justice, Abbott Laboratories, Nvidia, Broadcom, Investors, Bausch Health, Pharmaceuticals, Costco Wholesale, Costco, GTC, Coterra, DuPont De Nemours, DuPont, stoke, Peltz, Disney, Eaton Corporation, Ford, General Motors, Wall, GE Healthcare Technologies, General Electric, Apple, Google, Bloomberg, . Honeywell, Honeywell, UBS, Meta, Microsoft, Palo Alto Networks, Palo Alto, Procter & Gamble, Starbucks, Constellation Brands, Stanley, TJX, Marshalls, Wynn Resorts, Jim Cramer's Charitable, Traders, New York Stock Exchange, Getty Locations: China, Costco, U.S, East, Mexican, Growth, HomeGoods, Wells Fargo, Macao

Setting a down payment goalBefore you can set a down payment goal, you first need to figure out how much you'll need for a lender to approve you for a mortgage. Determining the size of down payment neededThe minimum size of your down payment will depend on the loan program you use. Exploring down payment assistance programsDown payment assistance programs can help cover part or all of your down payment. But if you can save up a down payment of at least 20% of the home's purchase price, you'll avoid paying PMI (private mortgage insurance), which can reduce your monthly payment. To save for a down payment, create (and stick to) a budget, reduce unnecessary expenses, increase your income through side jobs, automate your savings, and explore down payment assistance programs.

Persons: You'll, you'll, windfalls, Windfalls Organizations: Netflix, Spotify, Federal Deposit Insurance Corp, PMI Locations: homebuyers, Chevron

☆ U.S. or Europe — where's best to invest right now? CNBC Pro Talks goes on the road to find out
▼ + stars: | 2024-03-26 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

This Wednesday at London Business School, CNBC's Steve Sedgwick will ask two market experts where's best to invest right now. Fowler leads UBS' European equity strategy and global derivative strategy teams. Gooch-Peters is a member of Sanlam's global high-quality equity team and leads the global equity team's investment strategy. Fowler leads UBS' European equity strategy and global derivative strategy teams. Gooch-Peters is a member of Sanlam's global high-quality equity team and leads the global equity team's investment strategy.

Persons: Steve Sedgwick, Gerry Fowler, Hannah Gooch, Peters, Fowler, Gooch, Hannah Organizations: CNBC, London Business School, UBS, Chief European, Sanlam Investments, BNP Paribas, Citi, Sanlam Locations: Abrdn, London, . New York, Singapore

☆ US reindustrialization will be the top investment theme of coming decades, RBA says
▼ + stars: | 2024-03-23 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +4 min

The "US industrial renaissance" will be the top investment theme of the coming decade, Richard Bernstein Advisors said. The trend of American companies shifting away from dependence on foreign labor and supply chains should dominate investment strategies in the coming decades the firm said. "The market is already rewarding the beneficiaries of this capital reallocation, but we expect years, if not decades, of further performance from this critical investment theme," RBA president Richard Bernstein said in a note this week. For the US, that means big investment in infrastructure on manufacturing will be needed in the coming years as the world reorients. "The market has already recognized the re-industrialization investment theme despite investors' myopia with respect to more exciting technology-related themes, like artificial intelligence.

Persons: Richard Bernstein, Overreliance, Bernstein, — Organizations: Richard Bernstein Advisors, Service, Republicans Locations: America

☆ Big Oil’s green-bashing stokes backlash as campaigners hit out at 'talking points from the 1970s'
▼ + stars: | 2024-03-20 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Aramco and Saudi ministry officials have previously advocated for ongoing investment in hydrocarbons to avoid energy shortages until renewables can fully meet global energy demands. Nasser's comments drew applause from the audience at CERAWeek — an annual energy conference by S&P Global that's known as the "industry's Super Bowl." Other oil and gas executives at the event echoed Nasser's views, but spoke less directly about the state of the energy transition. Separately, Exxon Mobil CEO Darren Woods on Monday said that demand for petroleum products is "still very, very healthy." And the impact that price has on demand," Woods told CNBC's "Squawk on the Street."

Persons: Amin Nasser, Nasser's, Wael Sawan, Darren Woods, hasn't, Woods, CNBC's Organizations: Aramco, Saudi, Shell, Reuters, Exxon Mobil Locations: Houston , Texas, Saudi Aramco, Europe

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