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☆ Apple's core business is intact, says Wedbush's Dan Ives
▼ + stars: | 2023-11-03 | 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 EmailApple's core business is intact, says Wedbush's Dan IvesDan Ives, Wedbush Securities, joins 'Squawk on the Street' to discuss why he is still a buyer of Apple's stock, the growth investors were looking for in the next quarter, and more.

Persons: Wedbush's Dan Ives Dan Ives Organizations: Wedbush Securities

☆ Jeff Bezos Says He Is Leaving Seattle for Miami
▼ + stars: | 2023-11-03 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

Jeff Bezos, who founded Amazon out of his Seattle garage in 1994 and plowed billions of dollars into transforming the city into a tech boomtown, said on Thursday that he was leaving his home of three decades and moving to Miami. Mr. Bezos, 59, announced his move in an Instagram post on Thursday night. He said his parents had recently moved back to Miami, where he attended high school, and that he wanted to be closer to them and to his partner, Lauren Sanchez. Bloomberg News reported last month that Mr. Bezos had purchased a mansion in South Florida for $79 million, a few months after buying a neighboring one for $68 million. Mr. Bezos is worth $161 billion, making him the world’s third-richest person, according to Bloomberg.

Persons: Jeff Bezos, Bezos, Lauren Sanchez Organizations: Seattle, Bloomberg News, Bloomberg Locations: Miami, Cape Canaveral, Fla, South Florida

☆ Apple tumbles after warning of dull holiday quarter
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

Nov 3 (Reuters) - Apple fell 3% on Friday after it disappointed Wall Street with a forecast that indicated growth will stay subdued in the quarter where the holiday season usually drives its strongest sales. The iPhone maker on Thursday predicted quarterly sales that were below market estimates, blaming weak demand for iPads and wearables, especially in key market China. "We view management's flat sales guidance as proof the company cannot rely on iPhone sales to drive shares higher, as it has in the past," D.A. "In mainland China, we set a quarterly record for the September quarter for iPhone," Cook told Reuters. He was also positive on the outlook for the services business, whose strong growth in the September quarter had helped the company top quarterly revenue expectations.

Persons: Bernstein, D.A, Davidson, Tom Forte, Tim Cook, Apple, Cook, Dan Ives, Aditya Soni, Shounak Dasgupta Organizations: Apple, U.S . National Retail Federation, Deloitte, Huawei, Reuters, Wedbush Securities, Thomson Locations: China

☆ Watch CNBC's full interview with Wedbush's Dan Ives, Virtus Investment's Joe Terranova and CIC Wealth's Malcolm Ethridge
▼ + stars: | 2023-11-02 | 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 EmailWatch CNBC's full interview with Wedbush's Dan Ives, Virtus Investment's Joe Terranova and CIC Wealth's Malcolm EthridgeDan Ives, Wedbush Securities analyst, Joe Terranova, Virtus Investment Partners chief market strategist, and Malcolm Ethridge, CIC Wealth Executive Vice Presiden, join 'Closing Bell' to discuss Apple ahead of the mega-cap reporting earnings after the bell and the broader markets.

Persons: Wedbush's Dan Ives, Virtus Investment's Joe Terranova, Malcolm Ethridge Dan Ives, Joe Terranova, Malcolm Ethridge Organizations: Virtus Investment's, Wedbush Securities, Virtus Investment Partners, Apple

☆ Ady Barkan, Health Care Activist, Dies at 39
▼ + stars: | 2023-11-02 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

Like so many of you, I have experienced the ways our health care system is fundamentally broken: enormous costs, denied claims, dehumanizing treatment when we are most in need. Today we are witnessing the tragic consequences of our failing health care system. Everyone living in America should get the health care they need, regardless of their employment status or ability to pay. Even during this terrible crisis, Donald Trump and Republican politicians are trying to take away millions of people’s health insurance. And then, with a compassionate and intelligent president, we must act together and put on his desk a bill that guarantees us all the health care we deserve.

Persons: Ady Barkan, Donald Trump, —, Joe Biden Organizations: Republican Locations: America

☆ Wedbush's Dan Ives on Apple: This is a golden opportunity to own the stock for the next year
▼ + stars: | 2023-11-02 | 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 EmailWedbush's Dan Ives on Apple: This is a golden opportunity to own the stock for the next yearDan Ives, Wedbush Securities analyst, Joe Terranova, Virtus Investment Partners chief market strategist, and Malcolm Ethridge, CIC Wealth Executive Vice Presiden, join 'Closing Bell' to discuss Apple ahead of the mega-cap reporting earnings after the bell and the broader markets.

Persons: Dan Ives, Joe Terranova, Malcolm Ethridge Organizations: Apple, Wedbush Securities, Virtus Investment Partners

☆ How Apple's thinking about AI spending and deployment differs from Big Tech rivals
▼ + stars: | 2023-11-01 | by ( Bob Woods | ) www.cnbc.com time to read: +9 min

And, of course, we've been doing research across a wide range of AI technologies, including generative AI, for years," he said. The upgraded camera uses machine-learning AI to tell the difference between a person and an animal in the frame. Laura Martin, a tech analyst at Needham, is among those who say Apple is "far behind" its big tech rivals. The early edge in generative AI is paying off for rivals, as was evidenced by Microsoft's recent earnings report. "We believe they are on the cusp of what will be the introduction of an AI App Store over the next year," he said.

Persons: Brendan Burke, That's, Tim Cook, Cook, we've, Siri, Apple, it's, Laura Martin, Martin, I'm, Ives, that's, what's, OpenAI, Google's Bard, Burke, Claude Organizations: Apple, Microsoft, Google, Vision Pro, Amazon Web Services, Bloomberg, Meta, Financial Times Locations: Cupertino, California, Seattle, Paris, Beijing, Anthropic

☆ Tropical Storm Pilar Kills at Least 2 in El Salvador
▼ + stars: | 2023-11-01 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

Heavy rains linked to Tropical Storm Pilar have caused at least two deaths in El Salvador, officials said, as parts of Central America faced heavy flooding on Tuesday night. Its center was about 125 miles south of San Salvador, the Salvadoran capital, and 210 miles west of Managua, the capital of Nicaragua, on Tuesday night. Tropical storm watches are in effect for the Pacific coasts of Nicaragua and Honduras. That means tropical storm conditions are possible within the next 12 to 24 hours. The U.S. Hurricane Center said that the storm was drifting north and expected to begin moving west, farther into the Pacific Ocean, on Wednesday.

Persons: Storm Pilar, Pilar Organizations: Central America, Associated Press, National Hurricane Center of, U.S . Hurricane Center Locations: El Salvador, Central, United States, San Salvador, Salvadoran, Managua, Nicaragua, Pacific, Honduras, U.S

☆ Is Meta a buy after the brutal tech sell-off? Here's what the pros are saying
▼ + stars: | 2023-10-31 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Both Meta Platforms and Alphabet saw their shares caught up in a broad tech sell-off last week — but several analysts remain bullish. On Meta, concerns emerged last week following CFO Susan Li's comments on the advertising market in the fourth quarter. META YTD mountain Year-to-date share price movement in Meta Year-to-date, shares in Meta are up over 150% higher. Morgan Stanley views Meta as one of the companies best positioned to weather the volatility in the tech sector. We would be buying the pullback in Meta shares" in an Oct. 26 note.

Persons: Susan Li's, Dan Ives, CNBC's, He's, it's, Meta, Ives, Meta they're, pricings, Mark, Zuckerberg, Morgan Stanley, —, Jonathan Vanian, Michael Bloom Organizations: Facebook, Meta, Wedbush Securities, Labs, JPMorgan, Baird Equity Research Locations: Meta

Customers might assume that nonunion automakers, like Toyota, Tesla or Hyundai-Kia, will now be able to price their vehicles well below what the Detroit automakers can. “When the dust settles from this UAW debacle, the Detroit auto stalwarts find themselves with a bigger cost profile with competition increasing," said Dan Ives, an analyst at Wedbush. That means that competition for buyers is intensifying as pent-up demand from the pandemic wanes, making it difficult for any automaker to raise prices. But if the Detroit companies report lower income, Wall Street will register its disappointment, and stock prices could fall. “You either raise your labor costs to meet what the UAW is getting or you risk the unionization drive.”

Persons: Stellantis, ”, Jonathan Smoke, pare, Dan Ives, Natalie Knight, Ram, Knight, Smoke, Shawn Fain, Fain, Art Wheaton, wouldn’t, Wheaton, Tesla, ” Wheaton Organizations: DETROIT, United Auto Workers, Detroit’s, General Motors, Ford, Toyota, Hyundai, Kia, Detroit, GM, Cox Automotive, UAW, Chrysler, Jeep, Cox, automakers, Detroit automakers, Cornell University, U.S Locations: United States, U.S, Stellantis, Detroit

☆ Aaron Spears, Drummer for Usher and Other Stars, Dies at 47
▼ + stars: | 2023-10-31 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

Aaron Spears, a Grammy-nominated drummer who played with Usher, Ariana Grande and many other major pop stars, has died. The statement did not provide details about other survivors or specify a time, place or cause of death. Representatives for Spears could not immediately be reached for comment late Monday night. In 2004, he earned a Grammy nomination as a producer for Usher’s album “Confessions,” which sold more than 15 million copies worldwide. Over the years, Spears also played with Grande, Lil Wayne and Lady Gaga, among many other artists, and performed several times on the show “Late Night with Seth Meyers.”

Persons: Aaron Spears, Usher, Ariana Grande, Jessica, Spears, James Brown’s, Lil Wayne, Lady Gaga, Seth Meyers, ” Organizations: Grande

☆ There's a 'game of thrones' in AI, but these China tech giants offer real value, tech veteran says
▼ + stars: | 2023-10-30 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +2 min

China's tech giants may be reeling from the regulatory clampdowns imposed by the government, but they still have "a lot of value," according to veteran analyst Dan Ives. "I think [for] China tech, there's a lot of value there when you look at Baidu , JD , Tencent and others. Because of China's regulatory restrictions, more institutional investors in Asia are focusing on U.S. tech instead, Ives added. It has a target price of $168 for Baidu — giving it around 56% potential upside from its Oct. 25 close — and $38 for JD.com, or around 50% upside. HSBC has a 425 Hong Kong dollar ($54.34) price target on Tencent, giving it an upside of around 48%.

Persons: Dan Ives, Tencent, that's, CNBC's, Ives, Goldman Sachs, — CNBC's Arjun Kharpal Organizations: Baidu, JD, Wedbush Securities, HSBC, Hong Kong, Hong Locations: China, Asia, British, Hong Kong

The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. The GM workers will return to work after an official announcement of the deal, two sources said. Ford shares fell 2% while Stellantis shares were down 1.5% in Milan. Excluding Monday's share moves, GM and Ford shares have lost roughly a fifth of their value since the strike began while Stellantis shares have fallen 1%. "The Street is glad to have this UAW nightmare in the rear view mirror with a less onerous deal than originally feared for the Detroit Big 3," Wedbush analyst Daniel Ives said.

Persons: Rebecca Cook, Stellantis, Patrick Anderson, Shawn Fain, Fain, Joe Biden, Biden, Tesla, Ford, Erik Gordon, Daniel Ives, David Shepardson, Joseph White, Shivansh Tiwary, Deepa Babington, David Gaffen, Peter Henderson, Alistair Bell Organizations: General Motors, REUTERS, Detroit, United Auto Workers, UAW, Reuters, Detroit Three automakers, Ford Motor, Chrysler, Anderson Economic Group, GM, Ford, Democratic, Detroit Three, Detroit automakers, EV, Toyota, University of Michigan, Kentucky, Detroit Big, Thomson Locations: Detroit , Michigan, U.S, Detroit, Milan, Arlington , Texas, Tahoe, Sterling Heights , Michigan, Hill, Tenn, Washington

☆ Microsoft jumped headfirst into the AI race. Now it's cashing in.
▼ + stars: | 2023-10-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Microsoft's early investment in AI may already be paying off. AdvertisementAdvertisementAfter heavily investing in OpenAI after the launch of ChatGPT, Microsoft sparked something of an AI arms race among its big tech rivals. Microsoft's success had a lot to do with the success of Copilot, Rotibi said. "Microsoft has captured the zeitgeist of kind of the AI and generative AI with copilot," she said. Despite Microsoft''s success, Rotibi said it was still too early to call a winner in the AI race or say whether Google was falling behind.

Persons: —, Satya Nadella, Dan Ives, Ives, Bola Rotibi, Rotibi, It's Organizations: Service, Microsoft, CNBC, Google, CCS Insight, OpenAI, Excel Locations: OpenAI, Refinitiv

The first of the two shootings in Lewiston, Maine, took place at a bowling alley, interrupting an American pastime on an ordinary Wednesday evening. “See you again in your spare time!”On the bowling alley’s Facebook page, the management has posted photos of smiling customers and congratulated people for bowling perfect games. Around 2 a.m., a few reporters were congregating near a sports bar and a Subway sandwich shop at the corner of Mollison Way, a road leading to the bowling alley. “We all went bowling as kids growing up here,” said Mar Mcenery, 52, who lives four miles from the bowling alley and had come to see the scene for herself at 4 a.m. despite the citywide lockdown order. “Especially when the weather gets colder — the bowling alley and the ice rink, that’s what we do.”Ms. Mcenery said the bowling center was a popular hangout for local teenagers.

Persons: ”, Mar Mcenery, Ms, Mcenery, “ Organizations: Facebook, Lewiston police Locations: Lewiston , Maine, Lewiston

☆ VIEW Ford reaches tentative deal with striking UAW workers
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 25 (Reuters) - The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September. DANIEL IVES, ANALYST AT WEDBUSH SECURITIES"It's a relief for investors that this UAW nightmare is now over for Ford. JOE BIDEN, U.S. PRESIDENT"I applaud the UAW and Ford for coming together after a hard fought, good faith negotiation and reaching a historic tentative agreement tonight. GENERAL MOTORS STATEMENT"We are working constructively with the UAW to reach a tentative agreement as soon as possible." STELLANTIS STATEMENT"We remain committed to working toward a tentative agreement that gets everyone back to work as soon as possible."

Persons: Rebecca Cook, HARLEY SHAIKEN, DANIEL IVES, Farley, Ford, JOE BIDEN, JEFFREY SCHARF, SHAWN FAIN, Abhirup Roy, David Shepardson, Joe White, Peter Henderson, Christopher Cushing Organizations: Auto Worker, Ford Michigan Assembly Plant, Wayne , Michigan U.S, REUTERS, United Auto Workers, UAW, Ford Motor, UNIVERSITY OF, TIM, Ford, GM, U.S, Big, ACT, Thomson Locations: Wayne , Michigan, UNIVERSITY OF CALIFORNIA, BERKELEY, Detroit

☆ This is a 'flex the muscles' moment for Microsoft on cloud and AI, says Wedbush's Dan Ives
▼ + stars: | 2023-10-24 | 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 EmailThis is a 'flex the muscles' moment for Microsoft on cloud and AI, says Wedbush's Dan IvesHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Wedbush's Dan Ives, Brian Sullivan, “ Organizations: Microsoft, CNBC

☆ Men Accused of Stealing 2 Million Dimes Face Federal Charges
▼ + stars: | 2023-10-24 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

And then, somehow, more than two million dimes, worth nearly a quarter of a million dollars. The four thieves who federal prosecutors say were behind the robberies didn’t use the most sophisticated tactics. Four men now face several criminal charges, including theft of government money and robbery interfering with instate commerce, according to court documents unsealed last week. The defendants have “developed into a bona fide cargo theft and robbery crew” that used multiple vehicles to break into cargo trailers across the city this spring, federal prosecutors said in a court filing on Monday. In addition to refrigerators, tequila and dimes, they also stole — and in some cases tried to resell — televisions and frozen meat, shrimp and crab legs.

Persons: Jose Cuervo Locations: Philadelphia

The United Auto Workers union has once again escalated its strikes against big Detroit automakers, this time adding a factory that makes Ram pickup trucks for Stellantis. No progress was reported with Ford, which last week said it had the best offer of the three. The union went on strike Sept. 15 at one assembly plant from each company. By taking down the Stellantis factory, the union is signaling Ford and GM to improve their offers, Wedbush analyst Dan Ives said. Each time the automakers make an offer, Fain said, they insist it’s the best they can do, only to return days later with a better offer.

Persons: Shawn Fain, Ford, Stellantis, Dan Ives, Fain, ” Ives, “ We’ve, they’ve, ” Fain, ” ____ Koenig Organizations: United Auto Workers, Detroit automakers, Sterling, General Motors, Ford, UAW, Fiat Chrysler, France's PSA Groupe, GM Locations: Sterling Heights , Michigan, Louisville , Kentucky, Stellantis, Dallas

☆ Elon Musk acted like a 'little baby' and was 'almost in tears' on Tesla's 'terrible' earnings call, analyst says
▼ + stars: | 2023-10-22 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Financial analyst Kevin Paffrath criticized Elon Musk's comments on Tesla's recent earnings call. AdvertisementAdvertisementIt's now clear that Tesla's third-quarter earnings call on Wednesday didn't exactly go as expected. CEO Elon Musk acted like "a little baby," financial analyst and YouTuber Kevin Paffrath recently told Yahoo Finance. He also described the call as "terrible" and said Musk was "almost in tears" at one point. Kevin Paffrath hit out at Elon Musk's comments on the Tesla earnings call.

Persons: Kevin Paffrath, Elon Musk's, Musk, —, Elon Musk, Paffrath, Kevin, Tesla's, Tesla, who's, YouTube Tesla, Dan Ives Organizations: EV, Service, Yahoo Finance, Kevin YouTube, Elon, YouTube, Wedbush Securities Locations: Mexico

☆ 'Valuation looks increasingly unsustainable': Here's how Wall Street is reacting to Tesla's third-quarter earnings miss
▼ + stars: | 2023-10-19 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Here's how Wall Street analysts are reacting to Tesla's third-quarter report. Here's how Wall Street analysts are reacting to Tesla's third-quarter report. AdvertisementAdvertisementJPMorgan reiterated its "Underweight" rating and $135 price target, representing potential downside of 40% from current levels. AdvertisementAdvertisementWedbush reiterated its "Outperform" rating but lowered its price target to $310 from $350, representing potential upside of 38% from current levels. AdvertisementAdvertisementBank of America also lowered its price target to $290 from $300, representing potential upside of 29% from current levels.

Persons: Elon Musk, —, Musk, Tesla, Dan Ives, Ives Organizations: Elon, Service, JPMorgan, Ford, General Motors, Motors, Bank of America, of America

☆ Tesla earnings call was a 'mini disaster,' Wall Street analyst says
▼ + stars: | 2023-10-19 | by ( Alexa St. John | ) www.businessinsider.com time to read: +3 min

One Wall Street analyst referred to the accompanying earnings call as a "mini disaster." AdvertisementAdvertisementTesla's third-quarter earnings call was a "mini disaster," as one Wall Street analyst put it. "We dug our own grave with Cybertruck," Musk said. AdvertisementAdvertisementGiven all of that uncertainty, some analysts anticipated Musk also would end the frequent and substantial vehicle price cuts Tesla's had throughout this year. The ambiguity about pricing concerned Wall Street analysts like Ives.

Persons: Tesla, —, Elon Musk, Dan Ives, Musk, Vaibhav Taneja, Tesla's, Ives Organizations: Service, EV, Wedbush Securities

☆ Tesla's Q3 conference call was the definition of a disaster, says Wedbush's Dan Ives
▼ + stars: | 2023-10-19 | 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 EmailTesla's Q3 conference call was the definition of a disaster, says Wedbush's Dan IvesDan Ives, Wedbush Securities analyst, joins 'Squawk on the Street' to discuss Tesla's latest earnings, what investors got wrong about Tesla's stock, and how Musk can put a line in the sand on price cuts given today's macroeconomy.

Persons: Wedbush's Dan Ives Dan Ives Organizations: Wedbush Securities

☆ Premarket stocks: How billion-dollar fines are reshaping digital communications in banking
▼ + stars: | 2023-10-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A version of this story first appeared in CNN Business’ Before the Bell newsletter. HSBC is blocking staff from texting on their work phones, a person familiar with the matter confirmed to CNN. What’s happening: Banks must follow strict compliance rules for how they use and store their employees’ texts and other business communications. “Banks use a wide range of approved channels to communicate in compliance with regulatory obligations,” a company spokesperson told CNN. Tesla reported adjusted earnings of $2.3 billion in the quarter, or 66 cents a share, down 37% from a year earlier and the smallest profits it reported in two years.

Persons: Banks, ”, ” Sanjay Wadhwa, Tesla, Chris Isidore, Refinitiv, Dan Ives, “ Price, Elon Musk, “, ’, Craig Jelinek, Ron Vachris, Jelinek Organizations: CNN Business, Bell, New York CNN, HSBC, CNN, Bloomberg, Securities and Exchange Commission, SEC, Commodity Futures Trading Commission, “ HSBC, Carlyle Group, Blackstone, Bank of America, Citigroup, Wedbush Securities, Costco, Sam’s Club, Walmart Locations: New York, London, Wells Fargo, WhatsApp, United States

☆ New report indicates sluggish iPhone 15 sales in China. How to play Apple stock right now
▼ + stars: | 2023-10-18 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew report indicates sluggish iPhone 15 sales in China. How to play Apple stock right nowBryn Talkington of Requisite Capital Management, Dan Ives of Wedbush Securities and Jason Snipe of Odyssey Capital Advisors discussed Apple as analysts say they are starting to see signs of slowing demand for the iPhone 15 in China.

Persons: Bryn Talkington, Dan Ives, Jason Snipe Organizations: Apple, Management, Wedbush Securities, Odyssey Capital Locations: China

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