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AdvertisementElon Musk's AI startup, xAI, has been valued at $50 billion, The Wall Street Journal reported. xAI's valuation has doubled since the spring, surpassing the $44 billion Musk paid for Twitter. Elon Musk's AI startup, xAI, has reportedly been valued at $50 billion — $6 billion more than what the billionaire paid to acquire Twitter, the social media platform now known as X. AdvertisementThe new valuation means xAI has surpassed the $44 billion Musk paid for Twitter back in October 2022. xAI previously raised a $6 billion Series B from A16z and Sequoia Capital at a $24 billion post-money valuation.
Persons: Andreessen Horowitz, Elon, xAI, Musk, Sam Altman, OpenAI Organizations: Elon, Street Journal, Twitter, Sequoia Capital, Fidelity, The, Equity Partners, Qatar Investment Authority, Microsoft Locations: A16z
Atlanta Braves pitcher Chris Sale and Detroit Tigers pitcher Tarik Skubal won the Cy Young Award for the best pitchers in their respective leagues, MLB announced Tuesday. Sale won the National League honor while Skubal won the American League’s. Both Sale and Skubal won their respective league’s Triple Crown in 2024, leading the NL and AL in wins, ERA and strikeouts. Sale is the first NL player to win the pitching Triple Crown since 2011. Skubal also became the first AL player to win the pitching Triple Crown in a full season since 2011.
Persons: Chris Sale, Tarik Skubal, Cy Young, Sale, Skubal, Tommy John, Organizations: Atlanta Braves, Detroit Tigers, Cy, MLB, National League, Triple Crown, NL, AL, Braves, Injuries, Boston Red Sox, Atlanta, Chicago White Sox, Red Sox, , Tigers Locations: Detroit
Incoming Trump administration advisers Elon Musk and Vivek Ramaswamy on Wednesday floated ending remote work for federal workers, calling the practice a “privilege” left over from the pandemic. “Requiring federal employees to come to the office five days a week would result in a wave of voluntary terminations that we welcome: If federal employees don’t want to show up, American taxpayers shouldn’t pay them for the Covid-era privilege of staying home,” the two men wrote. The future of remote work for office-based employees is hotly debated. Some unionized federal workers have criticized Musk and Ramaswamy, saying they don’t know what they’re doing. Erwin said the two tech figures “make absurd claims about government waste and bash dedicated federal employees.” His union says it represents 110,000 federal employees.
Persons: Elon Musk, Vivek Ramaswamy, , Biden, Ramaswamy, Donald Trump, Musk, Randy Erwin, Erwin Organizations: Trump, Street, Management, of Government, SpaceX, CNBC, Tesla, National Federation of Federal Employees Locations: Washington
The Summary A Georgia woman has filed a lawsuit in response to the E. coli outbreak linked to organic carrots. Melinda Pratt says she was hospitalized for three days with an E. coli infection that she contracted after eating carrots from Grimmway Farms. Melinda Pratt had been buying the same brand of organic carrots for years: Bunny Luv by Grimmway Farms. Pratt filed a lawsuit Monday against Grimmway Farms. The company recalled batches of organic whole and baby carrots Saturday, after the Centers for Disease Control and Prevention determined that the products were likely linked to a multistate E. coli outbreak.
Persons: Melinda Pratt, Bunny, Pratt, , , Ron Simon, Gomez, Grimmway, Dana Brennan, Jeff Huckaby, Simon, , ” “ Organizations: Foods, Target, Grimmway, Centers for Disease Control, CDC, Washington, Associates, NBC News, Cleveland Clinic Locations: Georgia, Pratt, Savannah , Georgia, New York , Minnesota, Kern County , California, U.S
A Florida man arrested on suspicion of weapons violations on Halloween had a list of targets that included a congressman and locations he associated with Jewish and Black people, prosecutors allege. The Federal Public Defender of South Florida did not immediately respond to a request for comment. A customary walk-through of the home turned up evidence of firearms, including spent shell casings and a homemade target, Anton said. The alleged list of targets includes Rep. Jared Moskowitz, D-Fla., as well as locations the writer of the list characterized as draws for Jewish and Black people — a synagogue, a Jewish cemetery, a Jewish sandwich shop and parks and schools that were described using a derogatory term for Black people, according to Anton's filing. One entry on the list said, "Stalk Jewish parks," the proffer said.
Persons: John Lapinski, Lapinski, Marc Anton, Anton, silencers, Jared Moskowitz, Moskowitz Organizations: Federal, Defender, Police, Assistant U.S, Palmetto State Armory Liberty, Palmetto State Armory, Black, Jewish, U.S . Marshals Service Locations: Florida, South Florida, Margate, Miami, Broward County , Florida
Tennis legend Rafael Nadal played the final match of his professional career Tuesday, losing 6-4, 6-4 to Botic van de Zandschulp in the quarterfinals of the Davis Cup. Competing professionally since his late teens, Nadal won 92 singles titles (fifth-most all time), 22 majors (second-most all time) and two Olympic gold medals. Most famous for his dominance on clay, Nadal won a record 14 French Open championships. He won his first in 2005, beginning a dominant run in which he won nine of 10 French Open finals. After having dealt with injuries, he won four straight from 2017 to 2020 before he won his last French Open and major tournament in 2022.
Persons: Rafael Nadal, Botic van de Zandschulp, Nadal, Roger Federer, Federer, Garros, Thomas Coex, ” Federer, , “ Rafa, ” Nadal, Novak Djokovic, Djokovic Organizations: Davis, Nadal, titans, Roland, Getty Locations: AFP, Mallorca
AdvertisementJust in time for the busy holiday travel season, Uber has come out with a new ride option. For those who don't travel light, the new XXL Uber option comes with "larger trunk space" for more luggage. For those who don't like to travel light during the holiday season, Uber's new XXL option might be for you. The existing UberXL option gets riders a van or SUV that seats up to 6 people. AdvertisementAs part of the holiday travel season updates, Uber said that eligible Uber One members can get $20 Uber Cash back on an XXL ride until December 1.
Persons: Uber, UberXL, Cash Organizations: XXL, It's, TSA Locations: Canada
The flight attendant took action by improving her diet and taking her little dog for long walks. She lost 80 pounds in less than a year and is able to keep up with her energetic, 6-year-old child. I did it by changing my diet and walking my dog more. I only put on 20 pounds during my first pregnancy with my son, Andy, in 2000 and lost it pretty quickly. I no longer took the elevator in the New York subway and went for the stairs.
Persons: Diana Coello, You've, I'd, Andy, Milania, COVID, Kenny, fryer, Dianne, Angie, Bruno, I've Organizations: Netflix, New York, Business Locations: New York City, chihuahua
The outlook for equity markets looks "decent" going into 2025, according to Barclays, as central banks cut interest rates and the global economy remains resilient. The bank named "overweight-rated stocks in which our analysts have high conviction in 2025 and see value in owning on an individual basis." Here are three of Barclays' top picks, which it gives over 35% upside potential: Shell Barclays is bullish on Shell and has a target price of £36 ($45.60) on the stock, giving it around 40% upside potential. They are currently trading around a three-times discount to their five-year average, Barclays' analysts said. Barclays has a target price of 160 euros ($169.50) on the Amsterdam-listed stock, giving it 44% potential upside.
Persons: BeSi, — CNBC's Michael Bloom Organizations: Barclays, Shell Barclays, Shell, London Stock Exchange, AstraZeneca, London, Stockholm Stock Exchanges, BE Semiconductor, BE Semiconductor Industries, Euronext Locations: U.S, , Euronext Amsterdam, Amsterdam
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSchwab's Jon Beatty: We see a bull market for financial services spaceJon Beatty, Charles Schwab head of advisor services, joins CNBC's 'Halftime Report' to discuss AI, market opportunities, and the future of the 60/40 portfolio.
Persons: Jon Beatty, Charles Schwab
Nearly 40% of cardholders in the U.S. have maxed out a credit card or come close to doing so, according to Bankrate's October credit utilization survey. "Nothing good comes out of running up large balances on credit cards," says John Ulzheimer, a credit expert with over 20 years experience who formerly worked for FICO and Experian. It accounts for 30% of how your FICO credit score is calculated and is an "extremely influential" factor used to generate your VantageScore credit score. Maxing out your credit card can throw off your credit utilization ratio, thus harming your overall score. Why it's worth keeping your credit utilization lowThe credit scoring agencies didn't arbitrarily decide to make your credit utilization ratio an important part of your score, Ulzheimer says.
Persons: John Ulzheimer, Bankrate, Ulzheimer, They've Organizations: FICO Locations: cardholders, U.S
Luxury retailer Burberry 's shares present an attractive investment opportunity after the company revealed a new turnaround strategy, according to hedge fund manager David Neuhauser. The stock, which is also traded in the U.S. and Germany, remains down around 40% year-to-date, however. UBS said Burberry was the only luxury retailer not to report "weak organic sales growth" in the latest quarter. "I think Burberry has a good turnaround in place with a new CEO," Neuhauser added, while cautioning that the recovery might take longer than expected. "I think over some time, a good turnaround by Burberry, with strong leadership, could really see the stock price increase.
Persons: David Neuhauser, Neuhauser, CNBC's, Livermore, they're, Zuzanna Pusz, Burberry, , Joshua Schulman, Rogerio Fujimori, Adam Cochrane, FactSet, — CNBC's Karen Gilchrist Organizations: Burberry, Livermore Partners, UBS, Deutsche Bank, Stifel Locations: London, U.S, Germany, Asia, Swiss
The best Black Friday Tempur-Pedic mattress dealsTempur-Pedic Cloud Mattress (Queen) $1,399.30 $1,999.00 Save 30% The Tempur-Pedic Cloud Mattress features contouring foam that cradles sleepers of all body types and sleeping styles while offering outstanding pressure relief and heat dissipation. View at Tempur-Pedic What we like Check mark icon A check mark. Layers of conforming comfortable and supportive Tempur foam adjust to all sleeping stylesCheck mark icon A check mark. View at Tempur-Pedic What we like Check mark icon A check mark. View at Tempur-Pedic What we like Check mark icon A check mark.
Persons: Pedic Organizations: Business, Shipping Locations: Tempur
CNN —The reaction from Democrats to Donald Trump’s 2024 victory is, to put it mildly, very much unlike their reaction to his 2016 win. When asked whether Trump’s win was legitimate, about 94% of voters said it was. This includes 64% who agreed that Trump’s win was legitimate and supported his presidency and another 30% who accepted Trump’s victory but indicated that they would oppose his presidency. A third of Clinton supporters in a mid-November 2016 ABC News/Washington Post poll said that Trump’s win was not legitimate. Democrats may have accepted Trump’s win, but he’s likely to upset them greatly during his presidency.
Persons: Donald Trump’s, Biden’s, Trump, Biden, Kamala Harris, – it’s, Hillary Clinton, Barack Obama, Donald Trump, Trump's, Spencer Platt, Clinton, Trump’s, didn’t, George W, Obama’s, delegitimize Obama’s, Obama Organizations: CNN, Reuters, Quinnipiac University, Republicans, Trump, Electoral, GOP, Biden, Getty, ABC, Washington Post, Gallup, CBS Locations: New York
Next month, the Disney Treasure cruise ship will make its maiden voyage from Port Canaveral, Florida, to the Caribbean, officially becoming the sixth ship in the company's lineup. The cruise ship Disney Treasure. A guest room on the Disney Treasure cruise ship. Worlds of Marvel, a restaurant on Disney's cruise ship Treasure that was inspired by the Marvel Cinematic Universe. Jumbeaux's Sweets, inspired by the ice cream parlor in Disney's "Zootopia," is a gelato and sweets shop on Disney's Treasure cruise ship.
Persons: Minnie, hadn't, Thomas Mazloum, Gavin Doyle, Doyle, , Coco, Jumbeaux's Sweets, Jumbeaux's, I've, we've, There's Organizations: Disney, Disney Destiny, Oriental Land Company, Disney Cruise, Disney Disney, Royal, Cruise, de Coco, Mariachi Plaza, Pixar, Marvel, Walt Disney Animation Studios, Steakhouse, Skipper, Skipper Society, Cruise Lines International Association, Disney's Oceaneer, Walt Disney Theatre, Lucasfilm Locations: Port Canaveral , Florida, Caribbean, Japan, Royal Caribbean
A changing ChinaIt was a different world in the late 2000s and early 2010s, when Chinese students first began surging overseas. In 2020, the US revoked visas for more than 1,000 Chinese students and researchers deemed security risks. In January this year, Chinese foreign ministry spokesperson Wang Wenbin said in a briefing that “dozens of Chinese nationals, including international students, have been forcibly deported by the US each month.” He decried it as “discriminatory,” urging the US to protect the rights of Chinese students abroad. The Covid yearsThe number of Chinese students in the US plunged during the pandemic and hasn’t rebounded since. “Since the economic sanctions and tech restrictions started in 2018, many (Chinese) students have been sent back home,” one user wrote on Weibo.
Persons: , , Mallie Prytherch, , , Donald Trump’s, ” Prytherch, Trump, Prytherch, Joe Biden, Wang Wenbin, Li Jing, hasn’t, Mirka Martel, Steven Hon, didn’t, Hon, Marianne Craven, they’ve Organizations: Hong Kong CNN, Education consultancies, State Department, of International Education, University of Hong Kong’s, Contemporary, Beijing, World Trade Organization, Games, America, Fulbright, Trump, Tsinghua University, CNN, Institute of International Education, Education, , Ivy League Locations: Hong Kong, United States, China, India, America, Contemporary China, , Beijing, cybersecurity, Macau, Weibo, Canada, Australia, American
"There's two things you need to know about Nvidia," Jim continued. Here's a closer look at a few key questions surrounding Nvidia's fiscal 2025 third-quarter report and the subsequent conference call at 5 p.m. Nvidia's triple-digit revenue growth in recent quarters is widely expected to moderate due to the law of large numbers. 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: you've, ChatGPT, Jim Cramer, Jim, there's, Blackwell, Jensen, Blackwell pushouts, we're, We're, we've, Hopper, , Gross, Huang, Colette Kress, Nvidia, Kress, Jim Cramer's, Jensen Huang, Sam Yeh Organizations: Nvidia, Apple, AMD, Blackwell, Analysts, Truist Securities, Bank of America, Susquehanna, Microsoft, Meta, Sovereign, Evercore, Enterprise, CNBC, AFP, Getty Locations: CQ4, Japan, Indonesia, India, Denmark, Taipei
Don't sweat the drop in Palo Alto Networks stock, which came despite a solid beat and raise after Wednesday's closing bell. Bottom line Palo Alto Networks is off to a strong start to its fiscal year 2025. Palo Alto Networks passed through the fiscal first-quarter earnings beat into its full-year fiscal 2025 outlook. NGS ARR includes revenue for Palo Alto Network's Prisma, Cortex, QRadar, and certain cloud-delivered security services. Nikesh Arora, Chairman and CEO of Palo Alto Networks, speaking at the TEC Summit on October 29, 2019 in New York City.
Persons: Platformization, We're, Palo, Nikesh Arora, Arora, Jim Cramer, SASE, billings, Jim Cramer's, Jim, Astrid Stawiarz Organizations: Palo Alto Networks, Palo, LSEG, Palo Alto, Alto Networks, Cisco Systems, cybersecurity, Street, Management, CNBC, TEC Summit Locations: Palo, platformization, Palo Alto, New York City
Here are Wednesday's biggest calls on Wall Street: Loop reiterates Nvidia as buy The firm said it's standing by the stock heading into earnings on Wednesday. "We see more upside potential and are moving up our target price to $51 from $30. Pivotal reiterates Netflix as buy Pivotal raised its price target on Netflix to a Street high $1,100 from $925. Goldman Sachs reiterates Microsoft as buy Goldman said it's standing by the stock following the company's Ignite Conference in Chicago on Tuesday. Citi downgrades Target to neutral from buy The firm downgraded the stock following earnings on Wednesday morning and says it's losing share.
Persons: NVDA, hasn't, Bernstein, Robinhood, HOOD, Tyson, Paul, Apple, Goldman Sachs, Goldman, Piper Sandler, Piper, Morgan Stanley, it's, DELL, qtr, Guggenheim, Oppenheimer, JPMorgan Chase, Cava Organizations: Nvidia, Deutsche Bank, Gaming, Leisure Properties, Deutsche, Netflix, Bank of America, Walmart, Microsoft, Adobe, JPMorgan, Dell, of America, Underperform, Trump, Barclays, Newell Brands, Citi, Target, TGT, HSBC Locations: Chicago
Back in late September, I laid out a bearish thesis on Apple and the trade expired last Friday and resulted in a 100% gain. Apple (AAPL) continues to face significant headwinds, with disappointing iPhone 16 sales, growing competition in augmented reality, and underwhelming progress in artificial intelligence (AI). China's slowing economy has weighed heavily on Apple, exacerbating challenges in one of its largest markets. While Apple boasts industry-leading net margins of 24%, its expected EPS growth of 11.6% and revenue growth of 6.9% provide limited justification for this valuation premium. With iPhone sales growth faltering and the lack of a clear catalyst from AI or AR/VR initiatives, AAPL's premium valuation remains increasingly difficult to sustain.
Persons: AAPL Organizations: Apple, Apple Intelligence, Meta, Microsoft, CNBC, NBC UNIVERSAL Locations: OptionsPlay
Sheetz is slashing gas prices by 40 cents
  + stars: | 2024-11-20 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Sheetz, the gas station and convenience store chain, is slashing prices at some of its pumps ahead of the busy Thanksgiving travel period. Sheetz and other chains periodically slash prices to generate buzz and sales, even at the expense of lower profit. Drawing in people with cheap gas could help give convenience store sales a boost. But it’s an odd time to cut gas prices, which are below $3 a gallon in 31 states and hovering at $3.06 a gallon nationally. “Gas prices, after two-plus years of sizzling because of outside factors like Covid and Russia, are finally coming back into balance,” GasBuddy’s Patrick De Haan previously told CNN.
Persons: New York CNN — Sheetz, GasBuddy, , Patrick De Haan Organizations: New, New York CNN, AAA, Drivers, CNN Locations: New York, Russia
The full scope of the planned mass deportations remains unclear. Present-elect Donald Trump's plans for mass deportations could significantly impact construction, agriculture, and hospitality. The data breaks down 13 major sectors by the number of native-born citizens, naturalized citizens, and non-US citizens working in each. AdvertisementThe agriculture industry could also be heavily impacted by mass deportations. To be sure, deportation plans are still in flux, and it's unclear how many people would be deported or who would be targeted first.
Persons: Trump, Donald Trump's, Steve Ballmer, Molly Day, Tom Homan, Stephen Miller, Vance, Karoline Leavitt Organizations: Immigrants, American Immigration Council, American Progress, Small Business Association, ACLU, Immigration, Customs, White House, Staff, Policy, US Homeland Security
CNN —Rien Schuurhuis never expected to win this year’s cycling world championships, nor come close to claiming the race’s distinctive rainbow jersey. For the sole representative of the Vatican City in the 200-strong field, simply being at the race in Switzerland was enough. “There was one hill in the (2022) world championships and everyone was yelling: ‘The Pope’s cyclist! At every race, Schuurhuis’ ultimate aim has been to get people talking about the team and what it represents. Pope Francis, the first Latin American pontiff, is a soccer fan who played as a goalkeeper and supported San Lorenzo while growing up in Argentina.
Persons: Rien Schuurhuis, Schuurhuis, they’re, , , Pope Francis, Valerio Agnoli, , Chiara Porro, Herself, Porro, ” Schuurhuis, Pope John Paul II, Castel Gandolfo, San, Diego Maradona –, Pope Francis ’, ” Giampaolo Mattei, Organizations: CNN, Vatican City, CNN Sport, International Cycling Union, UCI, , League, Australia’s Embassy, Vaticana, Swiss Guards, England, Culture, Athletica, , Brisbane Games Locations: Vatican, Switzerland, Belgium, Vaticana, India, Australia, Asia, Rome, St, Peter's, Athletica Vaticana, San Lorenzo, Argentina, Canberra
Ram’s first electric truck has been delayed
  + stars: | 2024-11-20 | by ( ) edition.cnn.com   time to read: +3 min
Reuters —Stellantis said on Tuesday it will deploy a new vehicle system that will support assembly of gasoline, hybrid and electric models, but in a sign of how turbulent the electric-vehicle transition is, the automaker also delayed production of Ram electric pickup trucks. Tavares said the automaker is delaying production of its electric Ram pickups until the first half of 2025 from this year, citing the need to ensure quality. The global industry faces even greater uncertainty around EV demand if U.S. President-elect Donald Trump carries out plans to unravel various incentives around EV production and sales. Battery electric vehicles on Frame will have up to 500 miles (805 km) of range, and it will offer a 14,000-pound (6,350-kg) towing capacity, the company said. It will also support hydrogen and extended-range electric vehicles.
Persons: Reuters — Stellantis, , Carlos Tavares, Tavares, Stellantis, Donald Trump, Ram Organizations: Reuters, Ford, General Motors, GM, Jeep, Battery Locations: Italian, Detroit, U.S, Europe, North America
STORRS, Conn. — UConn women’s basketball coach Geno Auriemma passed Tara VanDerveer as college basketball’s all-time winningest coach with the Huskies’ win over Fairleigh Dickinson on Wednesday night in Storrs. Advertisement“This is yet another outstanding milestone in a career filled with them for Geno Auriemma,” VanDerveer said in a statement. Alone, he has more NCAA Tournament wins than any program in men’s or women’s college basketball. In 1995, Lobo’s senior season, UConn won its first national title. From 2013 to 2016, the Huskies won four national titles and set a college basketball record by winning 111 consecutive games.
Persons: STORRS, , Geno Auriemma, Tara VanDerveer, Auriemma, Azzi Fudd, ” VanDerveer, Geno, Chris, ” Auriemma, Paige Bueckers, Chris Dailey’s, Sue Bird, Diana Taurasi, Maya Moore, Napheesa Collier —, Dailey, Duke men’s, Mike Krzyzewski, Rebecca Lobo, Lobo’s, Swin Cash, Ashja Jones, Tamika Williams, Taurasi, Tina Charles, Moore, Stewart, Jared C, Tilton Organizations: — UConn women’s, Huskies, Fairleigh Dickinson, UConn, Naismith, WNBA, Dallas, Gampel, Stanford, VanDerveer, Tennessee, women’s, Getty Locations: Conn, Storrs
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