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☆ Beyond Novo and Eli Lilly: Watch these biotech and weight loss drug names, fund manager says
▼ + stars: | 2024-07-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Weight loss drugs have drawn investor interest and shaken up other sectors in the past year or so. Novo Nordisk and Eli Lilly were two early winners of this trend, as their drugs dominate the weight loss drug market. Yuri Khodjamirian, fund manager at Tema ETFs, said both companies are a "very powerful duopoly." They're a lot more risky than the bigger ones who already have drugs on the market," Khodjamirian said. Tema ETFs offers actively managed exchange-traded funds, with a focus on health care and life sciences.

Persons: Eli Lilly, Yuri Khodjamirian, Goldman Sachs, Khodjamirian, Roche Organizations: Novo Nordisk, Tema, CNBC, Zealand Pharma, Viking Therapeutics, Tema Oncology, Mental Health Locations: Tema

☆ Growth stocks are plenty. Veteran growth investor shares how he picks ones that can double their earnings
▼ + stars: | 2024-07-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Some growth stocks, such as major tech companies, had a mostly good run since the start of 2023, but their performance has been unequal. How does he identify the winners among the huge universe of growth stocks out there? Griffin, who manages the Munro Concentrated Global Growth Fund and the Munro Global Growth Small and Mid Cap Fund, says he focuses on structural earnings growth. There are six qualities that make a "great" growth company which can double their earnings, according to Griffin and Moore. These are the top 10 holdings of the Munro Global Growth fund.

Persons: Nick Griffin, Munro, we'd, Griffin, Kieran Moore, Moore, TSMC Organizations: Munro Partners, CNBC, Fund, Stock

☆ Russia's business elites signal they are tired of propping up the wartime economy
▼ + stars: | 2024-07-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Some Russian elites are challenging the central bank's potential interest rate hike to 18%. Russia's key interest rate is at 16% after a series of hikes to tame elevated inflation and a hot wartime economy. AdvertisementSome of Russia's business elites appear to be getting impatient with the country's wartime economy. Several influential individuals have come out to publicly challenge the Russian central bank's signal that it's likely to hike interest rates on Friday. Russia's key interest rate already stands at 16%.

Persons: — Organizations: Service, Reuters, Business Locations: Russian, Ukraine

☆ Grimes, Elon Musk's ex, is speaking out in support of his estranged trans daughter
▼ + stars: | 2024-07-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewElon Musk's former partner, Grimes, has spoken out in support of the Tesla chief's daughter, Vivian Jenna Wilson. "I love and am forever endlessly proud of Vivian," Grimes wrote in an X post on Thursday. It's notable that in her support of Wilson, Grimes referred to her as "Vivian." AdvertisementWilson is one of the 12 children that Musk shares with three different women — his ex-wife, Justine Musk, Grimes, and Neuralink executive Shivon Zilis. AdvertisementRepresentatives for Musk and Grimes did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Elon Musk's, Grimes, Tesla, Vivian Jenna Wilson, Vivian, lamm, " It, ong Organizations: Service, Business Locations: Wil, usk

☆ Elon Musk is still insisting he's down to fight Mark Zuckerberg: 'Any place, any time, any rules'
▼ + stars: | 2024-07-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk says his offer to fight Mark Zuckerberg still stands. "I'll fight Zuckerberg any place, any time, any rules," he said on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk is impressed with Meta's latest AI model, but he's still raring for a bout in the ring with Mark Zuckerberg. "I'll fight Zuckerberg any place, any time, any rules," Musk told reporters in Washington on Wednesday.

Persons: Elon Musk, Mark Zuckerberg, Zuckerberg, Musk, Meta, —, Benjamin Netanyahu's Organizations: Service, Capitol, Business Locations: Washington

☆ AI turned Big Tech stocks around. But a huge sell-off shows investors are wary of the insane spending.
▼ + stars: | 2024-07-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Big Tech appears to be tipping into troubled territory again. Read previewIn 2022, US tech companies grappled with falling demand after aggressive expansions during the pandemic, prompting a rout in tech stocks. This concentration makes the effect of any major decline in Big Tech stocks even more pronounced. All eyes on the rest of Big TechOther Big Tech companies, including Amazon, Apple, Microsoft, and Meta, report quarterly earnings next week. As for Big Tech, it appears to be a case of being safe rather than being sorry — because they can afford to.

Persons: —, Michael Strobaek, Lombard Odier, Strobaek, Katherine Tangalakis, Jim Reid, Reid, Anthropic, Lombard Odier's Strobaek, Sundar Pichai Organizations: Tech, Service, Nasdaq, Business, Lombard, Big, Bloomberg, Google, Big Tech, Apple, Microsoft, Meta, Deutsche Bank, Amazon Locations: Swiss, Big Tech

☆ In Win for Uber and Lyft, California Court Upholds Gig-Worker Proposition
▼ + stars: | 2024-07-25 | by ( Eli Tan | More About Eli Tan | ) www.nytimes.com time to read: +1 min

The California Supreme Court ruled on Thursday to uphold a four-year-old ballot measure that classifies Uber and Lyft drivers as independent contractors rather than as employees. In a win for ride-hailing companies, the decision ends a yearslong legal dispute that could have reshaped California’s gig economy if the ruling had been overturned. The ballot measure, Proposition 22, was first passed by state voters in 2020. It was overturned in 2021 by a California Superior Court judge, only to be upheld by three appeals court judges last year. Opponents of Proposition 22 argued that it was unconstitutional because it would limit the state legislature’s ability to oversee workers’ compensation.

Persons: Lyft Organizations: California Supreme, California, Court Locations: California

☆ Buy and hold these 5 attractively valued growth stocks for the next decade, the pros say
▼ + stars: | 2024-07-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Growth stocks have been rallying for most of this year, though they've been volatile recently. Investors rotated out of mega-cap tech stocks for smaller names last week, as expectations of rate cuts in September grow. But overall, growth stocks have still gained this year, with the large-cap Vanguard Russell 1000 Growth ETF still up nearly 20% this year. What are some of such stocks that are still attractively valued that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas.

Persons: Russell, Deere, Big Tech Nick Griffin, it's Organizations: CNBC Pro, Carnegie Investment, Deere, Mastercard, Visa, Big Tech, Munro Partners, Microsoft

☆ LVMH is waiting for China's consumers to shop at home
▼ + stars: | 2024-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewChina's once-mighty consumers are holding back on buying as much as they used to at home. But luxury giant LVMH is still spending big on them. LVMH does not break out its sales for China separately. AdvertisementChina's luxury consumers are spending in JapanRich Chinese consumers are not spending as much at home because, post-pandemic, they can travel and spend their money elsewhere, with Japan a top destination. The fluctuations in the yen make it challenging for LVMH to price its products in Japan.

Persons: —, Jean, Jacques Guiony, LVMH, Guiony, It's Organizations: Service, Business, Japan Locations: Japan, China, Asia, Japan Rich, Mainland China, Fukuoka

☆ Elon Musk has finally found something that he can agree with Mark Zuckerberg on
▼ + stars: | 2024-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk and Mark Zuckerberg nearly got into a cage fight after Meta tried to dethrone X with Threads. Musk paid Zuckerberg a rare compliment after Meta released its latest AI model on Tuesday. AdvertisementElon Musk has long been at loggerheads with Mark Zuckerberg. But there is at least one subject on which Musk can see eye to eye with Zuckerberg. On Tuesday, Musk offered a rare compliment to Zuckerberg after Meta released its latest AI model, Llama 3.1.

Persons: Elon Musk, Mark Zuckerberg, Meta, Musk, Zuckerberg, — Organizations: Meta, Service, Zuckerberg, OpenAI's, Business

☆ China released a 22,000-character plan for its economy that doesn't say very much
▼ + stars: | 2024-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

China's Third Plenum meeting ended with a vague economic plan, disappointing analysts. China's economy is struggling amid a property crisis and weak consumer spending. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLast week, China held a major meeting to draft out long-term strategies for its economy. At the end of the meeting, called the Third Plenum, Beijing released a lengthy document spanning 22,000 Chinese characters.

Persons: — Organizations: Service, Plenum, Business Locations: China, Beijing

☆ US Army worker who stole nearly $109 million to buy mansions and luxury cars is sentenced
▼ + stars: | 2024-07-24 | by ( Associated Press | ) edition.cnn.com time to read: +3 min

Mello was a financial manager who handled funding for a youth program at the military base and determined whether grant money was available. Prosecutors said Mello used the fake organization she created to apply for grants through the military program. Mello used the money to buy millions of dollars of real estate, clothing, high-end jewelry and 82 vehicles that included a Maserati, a Mercedes, a 1954 Corvette and a Ferrari Fratelli motorcycle. “Janet Mello is a good, kind, caring and loving person that would do no harm to anyone,” Faison wrote. Please allow her to repay her debt to society by returning what she has taken but not be behind prison bars.”

Persons: Janet Yamanaka Mello, Xavier Rodriguez, Mello, Fort Sam Houston, “ Janet Mello, ”, Jaime Esparza, “, selfishly, ” Esparza, Albert Flores, ” Flores, Flores, Prosecutors, Justin Simmons, Mercedes, Simmons, Lucy Tan, Mello’s, Denise Faison, ” Faison, “ Janet Organizations: US District, Prosecutors, Fort, Child Health, Lifelong Development, Western, Western District of, Defense Locations: Texas, Fort Sam, San Antonio, Western District, Western District of Texas, Houston

The birdie is about the fastest projectile you’ll see at these Olympics, and it’s as light as a feather — literally. When you’re watching the Games, keep in mind just how much an object’s speed can determine the outcome. Is the object fast enough to go great distances? Is it fast enough to befuddle an opponent? Follow The New York Times Olympic coveragePlay againMethodology: The speeds of the objects were collected using a sports radar gun.

Persons: It’s, you’re, we’ve, Ming Tan, Chris Huffins, Marissa Chew, , Yu Shao Organizations: Summer, New York Times, Lancaster Archery Academy, Badminton Center, Texas Christian University, Yu Shao , New York Indoor Sports Club, Volleyball, Guinness Locations: Long, Yu Shao ,

☆ Mark Zuckerberg says his weird tan is just a tan — not a hint about a new product.
▼ + stars: | 2024-07-24 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

What's up with Mark Zuckerberg's face? Maybe he's trying to tell us something? download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWhen is a tan line just a tan line? But it was one I had Tuesday, when I saw a new video interview with Mark Zuckerberg.

Persons: Mark Zuckerberg's, —, Mark Zuckerberg Organizations: Service

☆ Meet peak summertime Zuck
▼ + stars: | 2024-07-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

On Tuesday, Mark Zuckerberg hit the interview circuit to promote Meta's latest AI model, Llama 3.1. The Meta CEO had a very visible sunglasses tan in one of his interviews. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Zuckerberg gave an interview to AI newsletter writer Rowan Cheung on Tuesday, after Meta released its latest AI model, Llama 3.1, on Tuesday. While the Meta CEO was there to hype his company's latest AI offering, the interview was just as notable for Zuckerberg's visible sunglasses tan.

Persons: Mark Zuckerberg, Zuckerberg, —, Rowan Cheung Organizations: Service, Meta

☆ TSMC shares were rocky last week. This is where Wall Street says the stock is headed
▼ + stars: | 2024-07-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Shares of Taiwan Semiconductor Manufacturing Company (TSMC) were rocked by geopolitical developments from the U.S. last week, even as the firm reported earnings that beat expectations. TSMC and other semiconductor shares fell last Wednesday after reports of potentially tighter restrictions surfaced. Price target hikes for TSMC Over July 18 and 19, after those developments, 22 of 42 analysts who cover TSMC's Taiwan-listed shares hiked their price targets for the stock, according to FactSet. None reduced or left the price target unchanged. Analysts gave the stock potential upside of 30.5% based on the consensus price target.

Persons: Biden, TSMC's, Donald Trump, TSMC, Needham, Morningstar, Morgan Stanley, — CNBC's Michael Bloom, Arjun Kharpal Organizations: Taiwan Semiconductor Manufacturing Company, U.S, Bloomberg, Revenue, North America, Taiwan, CNBC, U.S . Needham, Management Locations: China, North, Taiwan, U.S, TSMC

☆ Why Trump shouldn't be president, according to Elon Musk's old tweets
▼ + stars: | 2024-07-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

But the mercurial billionaire was once a skeptic — and very vocal about why he thought Trump shouldn't govern the US. Back in July 2022, Musk criticized Trump after the former president called him a "bullshit artist" during a rally in Alaska. Musk later said in a follow-up post the same day that having Trump as president would result in "too much drama." Musk would go on to host DeSantis' campaign launch on X in May 2023, which was riddled with technical glitches and delays. The pair got closer this year, eventually culminating in a full-throated endorsement of Trump from Musk after Trump survived a failed assassination attempt on July 13.

Persons: —, Elon, Donald Trump's, Trump, Musk, Ron DeSantis, DeSantis, Reid Hoffman, Vinod Khosla, Vance, Vinod, Vance LFG, Jordan Peterson, it's, we've, @jordanbpeterson Organizations: Service, Business, Trump, Gov, Biden, Musk, Democratic Party, Republican Party, BI Locations: Alaska, Florida, United States of America, Gigafactory Texas

☆ Cathie Wood is buying the dip with CrowdStrike
▼ + stars: | 2024-07-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Cathie Wood is making a bet on the embattled cybersecurity firm CrowdStrike. CrowdStrike's faulty update for Windows computers caused a massive global tech outage on Friday. But that hasn't stopped Wood from buying nearly $12 million of CrowdStrike stock. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementCrowdStrike came under fire after an update triggered last week's massive global tech outage, but Ark Invest's Cathie Wood seems to have identified an investment opportunity amidst the mayhem.

Persons: Cathie Wood, hasn't, Wood, —, CrowdStrike Organizations: Service, Business

☆ Trump, 78, just called himself a 'fine and brilliant young man'
▼ + stars: | 2024-07-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

With Joe Biden out of the race, Donald Trump has become the oldest presidential nominee ever. Trump's now facing off against Kamala Harris, 59, a woman decades younger. On Monday, Trump called himself a "fine and brilliant young man" while criticizing Harris. AdvertisementFormer President Donald Trump, 78, is the oldest presidential candidate ever now that his former opponent, President Joe Biden, is out of the race. But the businessman-turned-politician is going all out to prove that age is just a number — particularly as he now contends with the idea of facing off against Vice President Kamala Harris, 59.

Persons: Joe Biden, Donald Trump, Kamala Harris, Trump, Harris, —, excoriate Harris, Biden Organizations: Service, Democratic, Business

☆ Trump wants a weaker dollar, but analysts say his policy direction points to just the opposite
▼ + stars: | 2024-07-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Republican presidential nominee Donald Trump has said he wants a weaker dollar to boost US exports. Economists and analysts say a weak dollar policy would be costly and politically difficult to implement. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRepublican presidential nominee Donald Trump has made it clear he would like a weaker dollar to make American exports more competitive. But economists and analysts are flagging challenges to making the greenback weaker — especially if Trump wins a second term.

Persons: Donald Trump, —, Michael Strobaek, Lombard Odier Organizations: Service, Trump, Lombard, Business Locations: America, Swiss

☆ A top JP Morgan strategist predicted in January that Biden would drop out. Here's what else was in that analyst's list of top 10 'surprises' to look out for in 2024.
▼ + stars: | 2024-07-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewJPMorgan Asset Management strategist Michael Cembalest was right on the money when he predicted that President Joe Biden would drop out from the 2024 presidential race. Cembalest, who chairs the company's market and investment strategy, made the prediction in his list of "top 10 possible surprises for 2024." "President Biden withdraws sometime between Super Tuesday and the November election, citing health reasons. Biden passes the torch to a replacement candidate named by the Democratic National Committee," Cembalest wrote. For one, Cembalest wrote in his list that "the driverless car backlash is coming."

Persons: —, Michael Cembalest, Joe Biden, Cembalest, Biden, Kamala Harris, Harris, Jake Sullivan, Christopher Cavoli, Cavoli Organizations: Service, Management, Business, Super, Biden, Democratic National Committee, Democratic Party, EV, Elon, Russia, US, Armed, Committee, Cembalest, JPMorgan Asset Management, BI Locations: Ukraine, Russia

☆ Biden's withdrawal from the presidential race spells uncertainty for the 'Trump trade'
▼ + stars: | 2024-07-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Joe Biden's withdrawal from the 2024 presidential race is causing market uncertainty. Analysts now expect more market volatility after Biden pulled out of the race. AdvertisementUS President Joe Biden's withdrawal from the presidential election is throwing fresh uncertainty into the markets for a second straight week. Investors were already trying to position themselves for the so-called "Trump trade" following the failed assassination attempt on former President Donald Trump on July 13. Markets at large were relatively calm following Biden's withdrawal after the Trump trade gripped sentiment last week.

Persons: Joe Biden's, Trump, Biden, —, Donald Trump, Mark Haefele, Jim Reid, Kyle Rodda, Harris, Chris Weston, Pepperstone, Kamala Harris, Biden's, Haefele Organizations: Service, Trump, Republican, UBS Global Wealth Management's, Nasdaq, Treasury, Deutsche Bank, Democrats, Democratic Party, Democratic, UBS

☆ Elon Musk is very publicly trying to recruit his billionaire peers to the Trump-Vance camp
▼ + stars: | 2024-07-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

The mercurial billionaire gave his endorsement to Trump, just minutes after the GOP presidential candidate was nearly assassinated on July 13. Since then, Musk has only doubled down on Trump and his newly minted running mate, Vance on his social media platform, X. — Elon Musk (@elonmusk) July 21, 2024Trump/Vance LFG!! — Elon Musk (@elonmusk) July 21, 2024Trump/Vance LFG!! Related storiesThe potential switch in Democratic nominee to Harris hasn't swayed Musk, who started criticizing her candidacy on Sunday.

Persons: —, Elon, Donald Trump, Sen, JD Vance, Trump, Musk, Vance, — Elon, Joe Biden, Kamala Harris, Biden, Vinod Khosla, Reed Hastings, Khosla, Hastings, Reid Hoffman, Harris, Vinod, Vance LFG, I'm, Harris hasn't, gFwWAv15Qx — Elon, Daniel Hallin, it's, Hallin, Jonathan Aronson, Aronson, Trump stokes Organizations: Service, GOP, Trump, Business, Democratic Party, Republican Party, Democratic, Netflix, Biden, UC San Diego, USC Annenberg School for Communication, Journalism, Trump . Representatives, BI Locations: Ohio, San Francisco Bay, America, Texas

☆ Solar stocks tumble as clean energy investors fear a Trump win — these companies are most exposed
▼ + stars: | 2024-07-19 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

This week, the benchmark Invesco Solar ETF (TAN) and the iShares Global Clean Energy ETF (ICLN) are down 6.2% and 4.6%, respectively. Residential solar stocks, including Enphase , Sunnova , Sunrun , SolarEdge and SunPower , would face a "severe impact" if Republicans successfully weaken or entirely repeal the IRA, according to Piper. The stock in the clean energy space with the least exposure to election risks is GE Vernova , according to a July slide deck from JPMorgan on clean energy. As a domestic manufacturer, First Solar potentially stands to benefit if the U.S. trade war with China intensifies under a Trump administration, according to Kallo. Though total IRA repeal may be unlikely, solar and clean energy stocks will "continue to be volatile until (and even after) the election due to headline risk," Kallo said.

Persons: Donald Trump, Joe Biden's, Biden, Piper Sandler, Wolfe, Piper, Enphase, SolarEdge, SunPower, Trump, Baird, Ben Kallo, Kallo Organizations: Republican Party, Democratic Party, Trump, Senate, Clean Energy, U.S, White House, Congress, Wolfe Research, Tax, Technologies, Republicans, GE Vernova, JPMorgan, GE, GOP, UBS, CNBC, Republican Locations: U.S, Ohio , Alabama, Louisiana, China

☆ These stocks will be the winners and losers of rising U.S.-China trade tensions, Wall Street says
▼ + stars: | 2024-07-19 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

For Europe, the prime concern is tariffs," wrote Goldman analysts. "If the entire impact came in 2025 this would be enough to eliminate any growth that year (our current top-down forecast is 4%)," Goldman wrote. Within sectors, beneficiaries of rising trade risks tend to be defensive stocks such as utilities, health care as well as Europe's GRANOLAS stocks, according to the bank. But he says a "meaningful selloff" in mega tech will see other names "pushed down as collateral damage." And if the AI narrative plays out as expected, a material sell-off in Mega Tech will present a buying opportunity in those names as well," he wrote.

Persons: Biden, Donald Trump, Trump, Europe's, Goldman Sachs, Goldman, Louis Navellier, — CNBC's Michael Bloom Organizations: Bloomberg, Taiwan, Trump, U.S, JPMorgan, China Gas, Power, Huaneng, Republicans, National Security, Hire, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Liquide, Tobacco, Dassault Systemes, Intercontinental Hotels, Nvidia, Navellier, Associates, Mega Tech Locations: China, Taiwan, U.S, Hong Kong, Europe, United States, Germany, France, Stellantis

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