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How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.
Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin
Tesla shareholders reaffirmed a pay award worth more than $45 billion for Elon Musk on Thursday, but before the announcement was made official at the company’s annual meeting in Austin, Texas, Mr. Musk posted the news on X, his social media platform. “Both Tesla shareholder resolutions are currently passing by wide margins!” he wrote in a post late Wednesday night. !”For months, Mr. Musk’s supporters have used the social media site, which he purchased for $44 billion in 2022, to drum up support for his massive payday, and Tesla board members warned he could leave the company if shareholders voted against him. But for some Tesla investors, Mr. Musk’s involvement with X has been the primary cause of concern, stirring complaints that the pay package has drawn his attention away from Tesla and into other ventures. Mr. Musk has also used the platform to promote right-wing conspiracy theories and vulgar content, offending some of his employees and investors.
Persons: Elon Musk, Musk, Musk’s, X Organizations: Elon Locations: Austin , Texas
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "Behind Nvidia, it's the second-best way to play AI in the chips space," said Jeff Marks, the Club's director of portfolio analysis. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Jerome Powell, Jeff Marks, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, Broadcom, Management, Michigan, Club, Novo Nordisk, Bloomberg
SpaceX Is Sued by Employees Fired After Criticizing Musk
  + stars: | 2024-06-12 | by ( Eli Tan | ) www.nytimes.com   time to read: +1 min
Eight former employees of Elon Musk’s rocket company, SpaceX, sued the company and Mr. Musk on Wednesday, contending they were wrongfully fired for raising concerns about sexual harassment and discrimination in the workplace. The employees were fired in 2022 after they circulated an open letter urging SpaceX executives to condemn Mr. Musk’s comments on Twitter, later renamed X, which amounted to “a frequent source of distraction and embarrassment for us.” After being made aware of the letter, Mr. Musk ordered the terminations, according to the complaint. “Our eight brave clients stood up to him and were fired for doing so,” Laurie Burgess, a lawyer representing the former SpaceX employees, said in a statement. “We look forward to holding Musk accountable for his actions at trial.”The plaintiffs are seeking an unspecified amount of compensatory damages. SpaceX did not immediately respond to a request for comment.
Persons: Musk, Musk’s, , , ” Laurie Burgess Organizations: Elon, SpaceX, Twitter
June's historical average return comes out at just 0.1% while July typically sees a 1.2% gain, according to Stovall. Summer exception This summer could prove to be an exception to the typical summer lull, given the upcoming presidential election, Stovall said, noting that the broad market index has posted an average 3.7% summer increase during the 19 election years since World War II. Ahead of this year's election, Stovall expects a few aerospace and defense contractors to stand out. Other areas of the market that should survive and thrive during a slow summer period are consumer staples companies, tobacco names, health-care distributors and pharmaceuticals, Stovall said. Costco and Walmart shares are up roughly 29% and 2% this year, respectively, posting strong returns as consumers have become more motivated by price and value in a high-inflation environment.
Persons: Sam Stovall, Stovall, CFRA, Eli Lilly, Lockheed Martin, Morgan Stanley, Becton Dickinson, Christopher Horvers, FactSet Organizations: Day, Labor, Walmart, Lockheed, Dynamics, Republicans, Costco, JPMorgan
CNBC's Jim Cramer on Tuesday explained why he continues to be bullish about pharmaceutical giant Eli Lilly . Continually confident about Eli Lilly because of the enormous success of its weight loss and diabetes drugs, he said the company's new Alzheimer's treatment has the potential to further boost business. On Monday, a panel of advisors to the Food and Drug Administration unanimously recommended Eli Lilly's Alzheimer's drug, currently known as donanemab. "I think this advisory committee decision on their Alzheimer's drug does precisely that." Eli Lilly did not immediately respond to request for comment.
Persons: CNBC's Jim Cramer, Eli Lilly, Eli Lilly's, it's, Cramer, they've Organizations: Food and Drug Administration, FDA Locations: U.S, Biogen
Eli Lilly became the most valuable health-care company in the world on the back of its blockbuster diabetes and obesity drugs. The billions of dollars in Eli Lilly is investing in manufacturing capacity support the idea that the long-term opportunity is immense. Adding Eli Lilly to the market could help address some of the obstacles that limited Leqembi's sales early on. Eli Lilly, which has spent billions in search of a successful Alzheimer's treatment , had hoped for donanemab to be approved by now. A sign with the company logo sits outside of the headquarters campus of Eli Lilly and Company on March 17, 2024 in Indianapolis, Indiana.
Persons: Eli Lilly, donanemab, Eli Lilly's, Donanemab, Leqembi —, Biogen, , Jim Cramer's, Ken Langone, Morgan Stanley, Cantor Fitzgerald, Leqembi, Jim Cramer, Jim, Scott Olson Organizations: Food and Drug Administration, FactSet, Novo Nordisk, FDA, GE Healthcare, CNBC, Company, Getty Locations: GLP, Indianapolis , Indiana
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. 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. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Financials, Morgan Stanley, Wells, , Jim, Eli Lilly, Biogen, Jim Cramer's, LLY, DOV Organizations: CNBC, Federal, GE Healthcare, FDA, GE, JPMorgan, Dover Locations: That's, Dover
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. "Notice where Stanley Black & Decker is when you have a good day for the bonds," Jim Cramer pointed out. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, you'll, Stanley Black, Decker, Dupont, Ed Breen, Jim, Eli Lilly, Eli Lilly Alzheimer's, Banks, Wells, Michael Santomassimo, Santomassimo, Morgan Chittum, We've, Tom Jorden, Coterra, Jorden, Jerome Powell, Jim Cramer's Organizations: CNBC, Longtime, Apple, Treasury, Club, DuPont, GE Healthcare, Huntington, Investing Club, Coterra Energy, Broadcom, VMware, Jim Cramer's Charitable
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEli Lilly may have developed the greatest drug of all time, says Jim Cramer'Mad Money' host Jim Cramer breaks down Eli Lilly's success in pharmaceutical drugs and where the stock can go from here.
Persons: Eli Lilly, Jim Cramer, Eli Lilly's
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer looks at Eli Lilly's outlook as the company's Alzheimer drug goes through FDA'Mad Money' host Jim Cramer breaks down Eli Lilly's success in pharmaceutical drugs and where the stock can go from here.
Persons: Jim Cramer, Eli Lilly's Organizations: FDA
Eli Lilly — Eli Lilly shares rose 2% after a panel of FDA advisors recommended the approval of its Alzheimer's drug known as donanemab. General Motors — The automaker's stock added more than 1% after its board authorized a $6 billion stock buyback program . Shopify — The e-commerce stock rose about 1% after JPMorgan initiated coverage with an overweight rating. Apple — Apple shares slipped less than 1% a day after the iPhone maker's Worldwide Developers Conference, where it revealed its artificial intelligence plans , called Apple Intelligence. GameStop — GameStop shares slipped 1% before the bell, continuing its volatile ride.
Persons: Eli Lilly, General Motors, Siri, Keith Gill's, Lee Cole, , Jesse Pound, Sarah Min Organizations: General, JPMorgan, Apple, Apple Intelligence, Technology, Reuters, Apollo, Kyndryl Holdings, GameStop, Calavo, , Calavo Growers
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDr. Fillit on Eli Lilly's Alzheimer's drug: Really having breakthroughs & success for the first timeDr. Howard Fillit, Alzheimer’s Drug Discovery Foundation co-founder and chief science officer, joins 'Squawk Box' to discuss news of FDA panel's approval of Eli Lilly's Alzheimer's drug Donanemab, the future of Alzheimer's treatments, and more.
Persons: Fillit, Eli Lilly's Alzheimer's, Howard Fillit, Eli Lilly's Organizations: Discovery Foundation, FDA
FDA advisers say Eli Lilly Alzheimer's treatment is effective
  + stars: | 2024-06-10 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFDA advisers say Eli Lilly Alzheimer's treatment is effectiveDr. Scott Gottlieb, Former FDA Commissioner, joins 'Closing Bell Overtime' to talk news that the FDA has deemed Eli Lilly's Alzheimers treatment as effective.
Persons: Eli Lilly Alzheimer's, Scott Gottlieb, Eli Lilly's Organizations: FDA
FDA advisers say Eli Lilly's Alzheimer's treatment is effective
  + stars: | 2024-06-10 | 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 EmailFDA advisers say Eli Lilly's Alzheimer's treatment is effectiveCNBC's Angelica Peebles joins 'Closing Bell' to discuss the FDA's advisers vote on Eli Lilly's Alzheimer's drug.
Persons: Eli Lilly's, Angelica Peebles
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEli Lilly's Alzheimer drug is 'a nice additional therapy', says Mizuho's Jared HolzJared Holz, Mizuho Securities healthcare equity strategist, joins 'Squawk Box' to discuss the FDA's review of Eli Lilly's experimental Alzheimer drug, whether the drug is a game changer, and more.
Persons: Eli, Jared Holz Jared Holz, Eli Lilly's Organizations: Mizuho Securities Locations: Mizuho
Eli Lilly headquarters in Indianapolis, Indiana, US, on Wednesday, May 3, 2023. A panel of independent advisors to the Food and Drug Administration on Monday recommended Eli Lilly 's Alzheimer's drug donanemab, paving the way for the treatment to receive full approval in the U.S. later this year. If cleared for use, Eli Lilly's donanemab would become the second Alzheimer's drug of its kind to enter the U.S. market after another treatment called Leqembi from Biogen and its Japanese partner Eisai. In a second vote, advisors unanimously said the benefits of Eli Lilly's donanemab outweigh its risks. It was another blow to Eli Lilly, which initially expected donanameb to win approval at the end of last year.
Persons: Eli Lilly, Eli Lilly's donanemab, Eisai, Eli Lilly's, Sarah Dolan, Dolan, Mark Mintun, donanameb, Leerink, David Risinger, Risinger Organizations: Food and Drug Administration, FDA Locations: Indianapolis , Indiana, U.S, Biogen, Black
Here are some little-known secrets even the biggest Disney fans might not know about Magic Kingdom. There's a hidden homage to Walt Disney at the front of the parkWalt Disney Was born in 1901. Kim Renfro/INSIDERAlthough Space Mountain is an iconic attraction that has become synonymous with the park, it was not an opening-day attraction at Magic Kingdom in 1971. There are locations in both Disneyland and Disney World, and the Magic Kingdom Club 33 is located at the entrance to Adventureland near the Adventureland Bazaar. The Walt Disney World Railroad spans 1.5 miles across the parkMagic Kingdom's 20-minute train ride stops on Main Street, in Frontierland, and in Fantasyland.
Persons: , Walt Disney, Jenna Clark, Walt, isn't, Roberto Machado Noa, it's, Jenna Clark Gaston's, It's, Kim Renfro, Mickey Mouse's, Mickey, Mickey Mouse, ROBERT SULLIVAN, who've, Walter E, Lilly Belle, Walt's, Lillian, Roy O, Roger E, Jenna Clark Just Organizations: Service, Disney, Magic, Business, Walt, Kingdom, Barber, Getty, Magic Kingdom, Kingdom's, Adventureland, Cinderella, Walt Disney World Railroad, Liberty, Hollywood Studios Locations: aren't, Frotierland, USA, New Fantasyland, Tomorrowland, Magic, Pinocchio's, Adventureland, There's, AFP, Frontierland, Fantasyland
European Union Parliament Election 2024: Live ResultsThe first countries are now reporting national estimates. The first overall estimate of parliament seat counts are expected after 2:15 p.m. Eastern. No results EPP S&D Renew ECR Greens ID Left Other No results Greens EPP ID S&D Renew Left Other ECR EPP S&D Renew ECR Greens ID Left Other No results Note: Country-level seat counts are estimates based on available exit polls and other non-official data from member states. Projection of overall seats by group The first overall seat count projection will be available after 2:15 p.m. Eastern. Group Seats Seats 0 0 0 0 + Show more * Newly elected members not allied to any of the political groups in the outgoing parliamentElection results are announced country by country, and voting is organized according to national rules.
Organizations: Union, EPP, Greens, Left, The New York Times
Jim Cramer's week ahead: Fed meeting and CPI report
  + stars: | 2024-06-07 | by ( Julie Coleman | ) www.cnbc.com   time to read: +2 min
CNBC's Jim Cramer on Friday guided investors through next week's most market-moving events, highlighting the Federal Reserve's meeting and the latest consumer price index report. Nvidia will implement its 10-for-1 stock split, and Cramer said shares might drop on Monday as buyers take profits. Oracle reports on Tuesday, and Cramer said he's not sure how this enterprise software company will fare. Casey's General Stores will also report that day, and Cramer said business is strong and the stock has been "a total winner." In that vein, the Fed will likely leave rates higher for longer at its Wednesday meeting, Cramer said.
Persons: CNBC's Jim Cramer, Jay Powell, Eli Lilly, Cramer, Eli Lilly's, he's, hasn't, nonfarm, He'll Organizations: Nvidia, Apple, Apple's, Conference, Vision Pro, FDA, Oracle, Casey's, Broadcom, Signet, Adobe Locations: Figma
Market wrap : Stocks were mixed and drifting in Friday afternoon trading. Wall Street's earlier gains Friday came despite a surge in bond yields and another pushout of Federal Reserve interest rate cut odds. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Morgan Stanley, Friday's, Eli Lilly, Lilly, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Abbott Laboratories, Nvidia, Apple, Developers, FDA, Broadcom, Jim Cramer's Charitable Locations: Wells
Alphabet announced on Wednesday that Eli Lilly Chief Financial Officer Anat Ashkenazi will be its new CFO after an almost year-long search. Shares of Eli Lilly have soared 90% in the past year and are trading at a record. When she joined Eli Lilly in 2001, she came in through the company's new venture capital division, which was co-founded by her then-spouse Ron Laufer. Fastest growth in decadesFounded in 1876, Eli Lilly has long been one of the major U.S. pharmaceutical companies. But the last couple years have marked a period of historic growth for Eli Lilly due to the exploding popularity of GLP-1s.
Persons: Anat Ashkenazi, Eli Lilly Eli Lilly Alphabet's, Ruth Porat, Eli Lilly, Ashkenazi, it's, Eli Lilly's, David Ricks, Morgan Stanley, Sundar Pichai, Hollie Adams, Ron Laufer, John Smiley, Eli, It's, Trump, Eli Lilly's Covid, we're, Askhenazi, OpenAI's, Larry Page, Sergey Brin, CNBC's Eric Rosenbaum, Toby Lyles Organizations: San, San Francisco Bay Area, Google, Economic, Bloomberg, Getty, CNBC, Tel Aviv University, Hebrew University, U.S . Food, Drug, U.S . Department of Justice, FDA, Reuters, Employees, NBC Locations: U.S, Indiana, San Francisco Bay, Davos, Switzerland, Israel, biopharma, North Carolina, Germany, New Jersey
Bargain retailers like Walmart and Costco have benefitted, as shown by the retailing industry’s recent slew of first-quarter earnings releases. Sales at its stores open at least a year increased 3.8% in the quarter from the same time last year. Which means that Americans are still spending, but selectively, and that “value shopping” means different things to different people. “A sizable segment of them are focused on value, however, that doesn’t directly correlate to a low price. Shoppers are willing to spend if they see value in an on-trend, well-made dress from Abercrombie – or a healthy salad from Sweetgreen.”
Persons: They’ve, What’s, , Neil Saunders, ” Saunders, Fitch, Stephanie Keith, Lilly Pulitzer, Laura Alber, Anne Hathaway, Della Patria, Elisabetta Villa, Richard Dickson, Zak Stambor, eMarketer, ” Stambor, , Abercrombie – Organizations: New, New York CNN, Walmart, Costco, GlobalData, CNN, Abercrombie, Bloomberg, Getty, Hollister, Sonoma, Navy, Banana, , Shoppers Locations: New York, Sonoma, Elm, Williams, Rome, Italy, Europe, Banana Republic
One up, one down: Club stock Eaton is is down, despite being added to Jefferies' "Franchise Picks" list on Thursday. Please remember that when people get extra shares they tend to sell them, not buy them, but ultimately split stocks do well. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Mason Morfit, ValueAct, Salesforce, Eaton, Jefferies, Jim, Eli Lilly, payrolls, Jim Cramer's, Justin Sullivan Organizations: CNBC, Food and Drug Administration, Nvidia, Tech, Jim Cramer's Charitable Locations: San Francisco
“I hope you’re having a blessed morning,” Zakas said. “Unfortunately, a lot of people are still very concerned about the security of their votes. They’ve lost all trust in the system.”“I’d be happy to answer any questions and explain our process again,” Elgan said. Elgan recognized it as a recall petition, a collection of signatures from voters who wanted to remove an elected official from office. It had been more than 20 years since the county’s last successful recall, and Elgan leaned down to study the form.
Persons: ” Zakas, , They’ve, I’d, ” Elgan, Elgan
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