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☆ NBCUniversal describes how it's using generative AI to match ads to viewers — and says they can perform up to 49% better
▼ + stars: | 2024-03-25 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

NBCUniversal is testing gen AI-driven ads, joining Google and Meta in the race to use generative artificial intelligence to sell advertising. Megan Pagliuca, chief activation officer at Omnicom Media Group, said the agency planned to test NBCU's approach with a number of advertising clients. The gen AI ads and other One24 initiatives come as NBCU and other TV sellers are looking for an edge leading up to the upfronts, TV's big annual selling period. It's also introducing shoppable TV ads aimed at sports fans and a new way for advertisers to see the effectiveness of their ads overall. Apple is also experimenting with using AI to sell ads, Business Insider has reported.

Persons: NBCU, it's, John Lee, Lee, Megan Pagliuca, It's, Max, Google Organizations: Google, Business, Omnicom Media, Disney, Meta, Apple Locations: One24

☆ Could First-Time Home Buyers Lose Out Under New Commission Rules?
▼ + stars: | 2024-03-25 | by ( Ronda Kaysen | Rukmini Callimachi | ) www.nytimes.com time to read: +1 min

With a landmark legal settlement poised to upend a decades-old norm that has dictated who pays real estate agents and how much, economists, agents and lenders are beginning to worry that the burden could now be on first-time home buyers. Buyers may soon have to pay out of pocket for something that had always been baked into the price. “First-time home buyers are usually the people who don’t have much cash and experience — and that experience matters,” said Daryl Fairweather, the chief economist of Redfin, the online brokerage that cut ties with the National Association of Realtors last year. The lawsuit was initially brought by home sellers in Missouri who accused N.A.R. of artificially inflating home prices by coupling commissions paid to sellers’ and buyers’ agents.

Persons: ”, Daryl Fairweather, Buyers, N.A.R Organizations: Redfin, National Association of Realtors Locations: Missouri

☆ Consumer advocates — and even some Realtors — hail NAR settlement: 'We've opened up the entire industry to competition'
▼ + stars: | 2024-03-24 | by ( Rob Wile | ) www.cnbc.com time to read: +6 min

Now, a landmark settlement with the National Association of Realtors is poised to upend this model. According to consumer advocates, and even some Realtors, it's a win for homebuyers and sellers. And in the months following Covid-19 pandemic reopenings, the hottest U.S. real estate markets were tipped squarely in favor of sellers. It's the same amount of money, but now the buyer gets money instead of a buyer agent, and they can decide what to do with it." What's more, greater competition for clients is likely to result in lower costs across the board, said Ryan Tomasello, a real estate industry analyst with the Keefe, Bruyette & Woods financial firm.

Persons: it's, Mariya Letdin, Letdin, they'll, Doug Miller, Miller, Ryan Tomasello, Keefe, Tomasello, Phil Crescenzo Jr, Crescenzo Organizations: National Association of Realtors, Realtors, homebuyers, Florida State University's College of Business, NBC News, U.S, NAR, Nation One Mortgage Corp Locations: Alhambra , California, Minnesota, Woods

Mortgage rates have been elevated over the last couple of months. Thirty-year mortgage rates have averaged 6.50% in March, just two basis points below where they were in February. Forecasters at the Mortgage Bankers Association, Fannie Mae, the National Association of Realtors, and elsewhere have been predicting that mortgage rates will start trending lower soon. The sooner the Fed can start cutting rates, the sooner mortgage rates will start to fall. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Fannie Mae, they've, you'll Organizations: Mortgage Bankers Association, National Association of Realtors, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Opinion: Trump’s image is on the line
▼ + stars: | 2024-03-24 | by ( Richard Galant | ) edition.cnn.com time to read: +20 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. … Deals are my art form.”Having a lot of money distinguished him from other presidential candidates, Trump contended. ‘I don’t need anybody’s money,’ Trump said in his June 2015 presidential campaign announcement.”“Now Trump needs money, a lot of it. In July 2006, she met Trump at a celebrity golf tournament and says that the two had sex that weekend. “Whatever the Fifth Circuit and Supreme Court decide next, the question for President Joe Biden is what to do now,” wrote Lawrence Downes.

Persons: Charles Dickens, “ David Copperfield, Micawber, ” Micawber, “, Dickens, Donald Trump, Letitia James, Trump, he’ll, ”, Tony Schwartz, I’ve, Frida Ghitis, ’ Trump, … Dana Summers, Joe Biden’s, Julian Zelizer, Biden’s, ” Bill Bramhall, Stormy Daniels, Peacock, Ana Marie Cox, Daniels, she’s, Peter Navarro, He’s, Mike Johnson, Kevin McCarthy, House Republicans —, Matt Gaetz ’, Marjorie Taylor Greene, Johnson, Clay Jones, Paul Sracic, Fareed Zakaria, Biden, Peter Bergen, Bashar al, Assad, ” Bergen, Vladimir Putin, Richard Aboulafia, ” David Horsey, Joann, Lynda Gorov, it’s, ” Kate Middleton’s, Princess, Wales, Sara Stewart, Kate, that’s, she’ll, Joe Biden, Lawrence Downes, “ Biden, Greg, Abbott, ’, ” Downes, Trump’s, Jared Kushner, Kushner, Donald Trump’s, Aseel Mousa, Drew Sheneman, Max Besbris, ” Besbris, Linda Thomas, Greenfield, Thomas, Eleanor Roosevelt, ‘, ” Don’t, Grace Elizabeth Hale, Elizabeth Yuko, Avi Weiss, Jennifer Jones, Jill Filipovic, Christine Blasey Ford Derrick Johnson, Peter Rutland, Holly Thomas, Lily Allen, Mary Ziegler, Lanhee Chen, Steve Garvey, Adam Schiff, Patricia Grisafi, Caitlin Clark Walt Handelsman, Caitlin Clark, Amy Bass, Kamilla Cardoso, UCLA’s Kiki Rice, ’ ” Clark, Bass, Pete ’ Maravich, Court, Serena Williams, Clark, Maravich …, — Organizations: CNN, New, Trump, Agency, Twitter, Save, Maga Inc, Biden, Content Agency Trump, House Republicans, Rep, Ohio GOP, Russia ISIS, ISIS, Boeing, Airbus, Crafts, Boys, BBC Studios, Circuit, Texas Gov, Abbott, of Justice, Texans, Harvard, National Association of Realtors, United Nations, “, University of Iowa, ESPN, Iowa Hawkeyes, NCAA Division Locations: Save America, New York, Baton Rouge , Louisiana, Ohio, Russia, Moscow, Iraq, Syria, Syrian, “, Iran, Afghanistan, ”, Ukrainian, Windsor, ” Texas, Texas, Gaza, Southern, Rafah, Egypt, Israel, Gaza City, Al, Grace Elizabeth Hale : Mississippi, ‘, California

☆ One Rolex model bucked the trend and had the biggest increase in value since last year
▼ + stars: | 2024-03-23 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

The frenzy for pre-owned Rolex watches peaked exactly two years ago, sending the market into a slump. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIt has been a rough two years in the pre-owned Rolex market. Related storiesDesigned as a utilitarian pilot's watch, Rolex introduced the GMT in 1955 with a dedicated hand to track the 24 hours of the day. What's more, this watch is selling on the pre-owned market for around $21,000, or nearly twice its $10,700 retail price.

Persons: II, —, I'm, Carol Altieri, It's, Altieri Organizations: Rolex, Service, Pepsi, Bloomberg Locations: Swiss

☆ Could real estate go the way of the travel industry? Not just yet
▼ + stars: | 2024-03-23 | by ( John Towfighi | ) edition.cnn.com time to read: +5 min

Sites like Redfin and Zillow provide a way for buyers and brokers to connect online, but the role of real estate agents in closing purchases has persisted. “Ultimately, people will understand what real estate agents really do, especially on the buy side,” Piskorski said. But even with the possibility of major changes, Hale said, one thing will almost certainly remain the same for real estate agents. Currently, the framework of real estate solely emphasizes the buy and sell transaction, said John Bodrozic, co-founder of HomeZada, a real estate tech company. Yet what ultimately differentiates a travel agent from a real estate agent is the value and risk associated with the purchase.

Persons: Tomasz Piskorski, ” Piskorski, Danielle Hale, ” Hale, Hale, “, John Bodrozic, Bodrozic, ”, Bobby Juncosa, Piskorski, ” Juncosa, Juncosa Organizations: CNN — Technology, National Association of Realtors, Columbia Business School, NAR, CNN, Buyers, ” Finance

☆ Facebook Marketplace is perfect. Except for this one thing.
▼ + stars: | 2024-03-23 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +6 min

Read previewI feel confident few will disagree that Facebook Marketplace is the best part of Facebook. Mark Zuckerberg's Marketplace is so successful at connecting people with vintage lamps that even Gen Z is sticking around Facebook just to use Marketplace. To edit the field to add a new custom message, go into Marketplace and click on the little person icon at the top corner. Tap into the profile icon in Facebook Marketplace, and then all the way down to Settings. On Marketplace, there's something nice and quaint about buying and selling used stuff from your neighbors.

Persons: —, It's, I've, Sellers, you've, I'm, chatbots Organizations: Service, Facebook, Business

☆ You can buy an endangered monkey on Facebook in 20 minutes
▼ + stars: | 2024-03-23 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +7 min

It took BI 20 minutes to find endangered squirrel monkeys and other exotic species for sale. Used lawn furniture, homemade baked goods… endangered species. 20 minutes to monkeysIt took BI less than two minutes to identify Facebook accounts selling the bowmouth guitarfish horns. Advertisement"In just two mouse clicks, our researchers could locate substantial wildlife trafficking content," researchers behind the ACCO study wrote. "Facilitated by transnational organized crime networks, with links to drug, human, and weapon trafficking, illegal wildlife trade threatens not only wildlife populations," Allan told BI.

Persons: —, Crawford Allan, Allan, Jill Atkins Organizations: Facebook, Service, World Wildlife Fund, Coalition, Meta, Products, BI, Wildlife Fund, Wildlife, Alliance, WWF, United Nations, Sheffield University Management School, University of Sheffield

☆ Trump risks tanking Truth Social's stock price if he cashes out
▼ + stars: | 2024-03-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump's social media platform Truth Social is set to go public next week. Truth Social, a platform developed by former president Donald Trump, has finally secured approval to merge with its shell company Digital World Acquisition Corp. After all, many DWAC investors don't appear to be trading on fundamentals, especially as Truth Social isn't reputed for high usage or revenue. Social Truth user KookyBar said after the merger, writing in a forum dedicated to DWAC. At a price of $40, the newly formed Truth Social entity would be worth more than $5 billion, with Trump owning a majority of the stock.

Persons: Donald Trump's, —, Donald Trump, Joe Biden, Trump, Donald Trump Jr, Devin Nunes, KookyBar Organizations: Service, Corp, Trump, SEC Locations: New York

☆ AI catalysts ahead that could boost Alphabet and Apple — and 3 quick stock takes
▼ + stars: | 2024-03-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

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. AI catalysts ahead: The newsy Alphabet headline Friday was Wedbush adding the stock to its Best Ideas List and increasing its price target. 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, Cramer, Claude, Abbott, Lululemon, It's, Goldman Sachs, Jonathan Kanter, Jim Cramer's, Jim Organizations: CNBC, Dow Jones, Nasdaq, Google, Conference, Apple, Abbott Laboratories, Abbott Labs, Nokia, Target, Jim Cramer's Charitable Locations: Morgan

☆ What Does the Real Estate Shake-Up Mean for New Yorkers?
▼ + stars: | 2024-03-21 | by ( Anna Kodé | ) www.nytimes.com time to read: +1 min

Myriad questions remain — not least, how the settlement will impact U.S. home prices, how sales commissions will be determined, and who will pay them. But in New York City, where the primary real estate trade group is the Real Estate Board of New York (REBNY), most agents aren’t members of N.A.R. settlement may not directly affect New York City buyers and sellers, its impact is expected to ripple across the nation. settlement “may impact the New York City market,” and that they would be reviewing the N.A.R. settlement “and will provide an analysis to REBNY members shortly.”

Persons: REBNY, ” Organizations: National Association of Realtors, Real, Board, New Locations: New York City, New York

☆ The Trapped Economy: Americans Can't Buy a Home, Car, or Find a New Job
▼ + stars: | 2024-03-20 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.

Persons: Joanne Hsu, there's, they're, —, Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business

☆ What a $418 million settlement on home-sale commissions may mean for you
▼ + stars: | 2024-03-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

As proposed, the settlement would have the NAR completely remove commissions from its MLS system by July. watch nowIn the meantime, it's "business as usual" for buyers and sellers, Cobreiro said. What the settlement could mean for homebuyersThe settlement agreement doesn't say that the buyer's agent will not be paid nor that the buyer's agent cannot charge fees. While commission fees are negotiable between involved parties, knowing what cards you have on the table as a homebuyer will be more important now than before. As a result of the settlement, the seller will no longer be responsible for commission fees for a buyer's agent.

Persons: Cobreiro, Cobriero, Amanda Pendleton Organizations: MLS, Zillow, Federal Reserve

☆ Consumers frustrated by the economy might never get the relief they're ultimately hoping for
▼ + stars: | 2024-03-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why the economy has most consumers feeling like they are stuck in place . A "trapped in place" economy is in full swing. Bad buying conditions coupled with everyday high prices means consumers can't make any major life changes , writes Business Insider's Emily Stewart. But it's not the only area of the economy that's stuck, Emily writes. So, while consumers lament being stuck in place, they should also avoid getting stuck looking to the past.

Persons: —, Rebecca Zisser, Emily Stewart, it's, Emily, gunning, It's, Jerome Powell's, Tyler Le, Steve Mnuchin, Brian Moynihan, Instagram, Jensen Huang, Chelsea Jia Feng, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Tech, Federal, Wall Street, Investors, Blackstone, JPMorgan, MLB, Bank of America, mojo, Nvidia, Astera Labs, NASDAQ Locations: It's, Chelsea, New York, London

☆ Unilever: Ben & Jerry’s and Magnum will form the core of an $8 billion ice cream company
▼ + stars: | 2024-03-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —The world’s biggest ice cream business is about to go it alone. The newly minted firm will boast five of the 10 best-selling ice cream brands worldwide, namely Magnum, Ben & Jerry’s, Breyers, Walls and Cornetto. “The future growth of Unilever and ice cream is best served by separating the business,” Unilever CEO Hein Schumacher told journalists. Philippe Wojazer/ReutersThe origins of Unilever’s ice cream business can be traced back to the summer of 1913, when Thomas Wall started selling ice cream from his family butcher shop in London. But its ice cream sales took a hit last year as cash-strapped consumers cut back on non-essential spending.

Persons: Jerry’s, “, Hein Schumacher, ” Schumacher, Miko Carte, Philippe Wojazer, Thomas Wall, Matt Britzman, Hargreaves, ”, —, Schumacher Organizations: London CNN, Unilever, ” Employees, Schumacher Locations: Saint, France, London, €

☆ Premarket stocks: Why Zillow is worried about America’s housing market shakeup
▼ + stars: | 2024-03-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Zillow reported that it outperformed the residential real estate industry by 12 percentage points in 2023. That’s because one of the main ways Zillow makes money is through lead generation for real estate agents. “This shift in the structure of real estate transaction costs is too new to understand how it will impact housing market dynamics,” a spokesperson said. Zillow could make even more money if real estate agents offer their services piecemeal, he said. The takeawayThere’s a lot of disagreement between analysts about the future of Zillow and the real estate industry at large.

Persons: Zillow, ”, Dan Kurnos, it’s, Zillow’s, they’ll, who’s, Kurnos, ” Stephen Brobeck, “, It’s, Homes.com, William Blair Organizations: CNN Business, Bell, New York CNN, National Association of Realtors, Realtors, Benchmark Company, NAR, Zillow, Consumer Federation of America, CNN, Bank of America Locations: New York

NEW YORK (AP) — Garden centers enjoyed a pandemic boom, particularly with millennials, as people looked for outdoor activities during lockdowns. To regain the sales momentum, garden centers must navigate a number of challenges as another spring season kicks in. At Flowercraft Garden Center, a San Francisco garden center that is in its 50th year of operation, houseplants, vegetable starter plants and citrus trees are selling well, said general manager Lydia Patubo. That was good for an area suffering from a yearslong drought, but bad for garden center business. Even though his sales have plateaued since the pandemic, he feels the 34-year-old garden center is in a good spot.

Persons: Danny Summers, Summers, That’s, ”, Lydia Patubo, Patubo, San Francisco, ” Patubo, Chris Cordrey, “, ” Cordray, hasn’t, Kat McGraw, ” McGraw Organizations: Survey, The Garden Center Group, Garden, ”, East Coast Garden, National, Administration, Co, Atlanta, “ Locations: U.S, San Francisco, San, California, Millsboro , Delaware, Chattanooga , Tennessee, Nashville, Tennessee

☆ Ryan Serhant on NAR ruling: Greater transparency is important to bring our industry forward
▼ + stars: | 2024-03-19 | 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 EmailRyan Serhant on NAR ruling: Greater transparency is important to bring our industry forwardRyan Serhant, Serhant CEO, joins 'Squawk Box' to discuss the recent legal settlement by the National Association of Realtors, what the ruling means for home sellers and realtors going forward, and more.

Persons: Ryan Serhant Organizations: National Association of Realtors, realtors

☆ Banks are in limbo without a crucial lifeline. Here's where cracks may appear next
▼ + stars: | 2024-03-19 | by ( Hugh Son | ) www.cnbc.com time to read: +8 min

Most of the banks deemed to be potentially challenged are community lenders with less than $10 billion in assets. These banks need to either raise capital, likely from private equity sources as NYCB did, or merge with stronger banks, Graham said. There are other signs of mounting stress among smaller banks. They ranged in size from $90 billion in assets to under $1 billion, according to Fitch. He predicts a surge in merger activity from lenders between $3 billion and $20 billion in assets as smaller firms look to scale up.

Persons: Klaros, Steven Mnuchin, Brian Graham, Graham, you've, PacWest, Banks, Jerome Powell, Powell, Fitch, Brendan Mcdermid, I've, Chris Caulfield, West, Spencer Stuart, You've, Frank Sorrentino, Stephens, It's, that's, Sorrentino Organizations: Silicon Valley Bank, Federal Reserve, Klaros Group, York Community Bank, ex, Fitch, Federal Deposit Insurance Corporation, Traders, New York Stock Exchange, Reuters, U.S, First Republic, Mercer Capital, Bank, Dominion Bank, Capital, Regulators Locations: Silicon, California, New York City, U.S, Toronto, West Monroe, FirstSun, Seattle

☆ An activist short-seller is making a name for itself by taking on Carl Ichan, Gautam Adani and others
▼ + stars: | 2024-03-19 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Anderson exposes corporate fraud and ponzi schemes through his company Hindenburg Research. Congress (IYC) staged a protest demanding a probe into the allegations of fraud made against the Adani group in the Hindenburg research report. Controversial practice Breakout Point has tracked 74 Hindenburg short bets it has opened since 2017. watch nowBiggest hits One of Hindenburg's biggest recent campaigns centered on a collection of businesses owned by Indian billionaire Gautam Adani. In January 2023, Hindenburg published a report accusing Adani Group companies of "brazen stock manipulation and accounting fraud."

Persons: Nate Anderson, Anderson, Carl Icahn, Gautam Adani, Ivan Cosovic, Hindenburg, LPP, Gautam Organizations: Hindenburg Research, Washington Post, The Washington Post, Getty, The, CNBC, Indian Youth Congress, Central, Indian Youth Congress Office, Congress, Hindustan Times, GameStop, Hindenburg's, Adani, Securities and Exchange Board of India Locations: The New York, NY, New York, DELHI, India, New Delhi, Gdansk, Russia, Ukraine

☆ How real estate's pain could be Wall Street's gain as Blackstone, Goldman, and others dive back in.
▼ + stars: | 2024-03-19 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +12 min

That's not to say predictions of a commercial real estate rebound are a sure bet. Here are four signs that support Gray's prediction that the commercial real estate market may be bottoming. (New York Community Bank had previously purchased $2.7 billion in Signature's loans and deposits, but not the real estate loans.) According to David Seifert, partner at private equity real estate firm Velocis, there are some sweet deals to be had in secondary sales of private-equity funds tied to real estate. The road aheadWhere Gray sees signs of bottoming, others think commercial real estate has much further to fall.

Persons: Warren Buffett, Buffett, Paul Getty, Getty, Steve Mnuchin —, Blackstone, Mnuchin, Donald Trump's, George Soros, John Paulson, It's, Jonathan Gray, Jim Garman, That's, Barry Sternlicht, Gray, Tracy Chen, Chen, BGO, secondaries There's, Ares, Brian King, King, David Seifert, Seifert, Velocis, Goldman Sachs, Dan McNamara, McNamara, Scott Rechler, wallop, Janet Yellen, Rechler, there's Organizations: Business, Goldman, Reuters, Starwood, Brandywine Global, Federal Reserve, . Bank, New York Community Bank, FDIC, Signature Bank, Community Bank, Fund Management, Community Preservation, New, Commercial Observer, Blackstone, Homes, Digital Realty, Polpo, RXR Locations: Blackstone, , New York, New York, BREIT, Real, Velocis

☆ The best time to sell your home — in 2023, listings in this period sold for $7,700 more, research finds
▼ + stars: | 2024-03-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Spring, the season when home buying and selling activity kicks off, is around the corner. Available housing supply is already rebounding: The number of new listings jumped 14.8% from a year ago, the largest annual gain since May 2021, according to new data from Redfin, a real estate site. Buyers are typically looking to land a new home before their children's new school year while a seller's house benefits from the fresh flowers and renewed greenery post-winter. In 2023, homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home, according to a new Zillow analysis. "We've learned that real estate cycles don't always happen [at this] time of year," said Melissa Cohn, regional vice president at William Raveis Mortgage.

Persons: Amanda Pendleton, We've, Melissa Cohn Organizations: Zillow, Finance, William, Mortgage Locations: Redfin, U.S

☆ Stocks making the biggest moves midday: Nvidia, Apple, Alphabet, PepsiCo and more
▼ + stars: | 2024-03-18 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Investors see the event as a bellwether for artificial intelligence, as Nvidia is expected to unveil new products and updates. Alphabet , Apple — Shares of the Google parent company gained nearly 7% following a Bloomberg report that said Apple was discussing licensing Alphabet's Gemini artificial intelligence engine into the iPhone. Apple climbed roughly 2%. PepsiCo — The beverage stock rose nearly 4% after an upgrade to overweight from equal weight by Morgan Stanley . PepsiCo's business fundamentals should bottom out early this year and then rebound in the second half, according to Morgan Stanley.

Persons: Apple, Tesla, Morgan Stanley, Uber, — CNBC's Pia Singh, Jesse Pound Organizations: Nvidia —, Conference, Investors, Nvidia, National Association of Realtors, realtors ., —, Google, Bloomberg, Apple, Taiwan Semiconductor Manufacturing, Reuters, Bank of America, PepsiCo, Technologies Locations: San Francisco, Japan

ALBANY, N.Y. (AP) — New York will evaluate its troubled recreational marijuana licensing program after lawsuits and bureaucratic stumbles severely hampered the legal market and allowed black-market sellers to flourish, Gov. Hochul, a Democrat, has described the state's recreational marijuana rollout as a “ disaster." The Office of Cannabis Management has just 32 people reviewing license applications but has received about 7,000 applications since last fall, a spokesman said. The state's review will embed Jeanette Moy, the commissioner of the state's Office of General Services, and other state government officials, in the cannabis management agency for at least 30 days. “We have built a cannabis market based on equity, and there is a lot to be proud of," said Chris Alexander, executive director of the Office of Cannabis Management.

Persons: Kathy Hochul, Jeanette Moy, Chris Alexander, Moy Organizations: —, Cannabis, Democrat, Cannabis Management, New York Cannabis, General Services Locations: ALBANY, N.Y, — New York, New York City, New

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