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☆ Move over Hinge and Tinder, there's a new crop of dating apps. Meet the founders behind 11 startups sparking romance.
▼ + stars: | 2024-08-26 | by ( Sydney Bradley | Dan Latu | ) www.businessinsider.com time to read: +17 min

AdvertisementJoshi's dating app, Friend of a Friend, has ads plastered around New York City. AdvertisementThe anti-swipersWhen setting out to build a dating app, swiping fatigue was top of mind for Vaish Sesetty and Cyrus Belsoi, the founders of the dating app Pique. AdvertisementLast year, Chernyak followed her frustration out of her legal career and launched the video-profile dating app Fast-Forward Dating App with two cofounders. AdvertisementThe Instagram DMsOne of the biggest dating apps isn't even a dating app — it's Instagram. Fast-Forward Dating App is a video-profile dating app where users answer five questions on camera with no edits or filters.

Persons: —, Forbes, who'd, Serena Kerrigan, Kerrigan, Rex Woodbury, Vaish Sesetty, Cyrus Belsoi, Belsoi, Karima Ben Abdelmalek, France who's, Abdelmalek, they've, Happn, Joe Feminella, Feminella, Hannah, Elle Wilson, Wilson, Danielle Dietzek, Julie Griggs, Fourplay, Nicole Fara Silver, Dietzek, Anushka Joshi, Friend, Joshi, Derek Lee, Lee, Boo, David Chang, Richard Chang, Katya Chernyak, Chernyak, Aeen Avini, Victoria Todis, Bumble, Nandini Mullaji, Mullaji, Chad DePue, who's, Jeremy Liew, Sitch, Alex Weitzman, hasn't, Weitzman, Amori, Tabitha, Ethan, Pique, Lieu Organizations: Service, Match, Business, Bradley, Microsoft, Daybreak Ventures, Amazon Web Services, Manna, New, Lightspeed Locations: New York City, York City, Paris, TikTok, Park, Brooklyn, France, singlehood, Victoria, Chicago, Los Angeles, Phoenix, Sitch

☆ 2 reasons why Disney's stock is worth buying despite a theme-park slowdown
▼ + stars: | 2024-08-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

In fiscal 2022 and 2023 combined, Disney's experiences unit, which houses the parks, generated 67.5% of the company's operating income. That represents a significant deceleration in growth from its first and second quarters, when operating income rose 8% and 12%, respectively. Nispel argued that negative sentiment around Disney's theme parks performance could be a reason to have less conviction on the stock in the near term. The more excitement around its movies, the more interest in everything from theme parks to streaming services to branded merchandise. Operating income, in particular, rose more than $350 million year over year to $254 million.

Persons: that's, Disney, we're, Jim Cramer, Jeff Marks, amortization —, Brandon Nispel, Nispel, Bob Iger, Goldman Sachs, Goldman, Jim, Romulus, King, KeyBanc's Nispel, Jim Cramer's, Mickey Mouse, Minnie Mouse, Gary Hershorn Organizations: Disney, Magic, Club, Magic Kingdom, DIS, Comcast, CNBC, KeyBanc, Universal, Americas, —, Hulu, ESPN, Walt Disney World, Corbis, Getty Locations: California, Florida, Magic, Orlando , Florida, Orlando, Animal Kingdom

☆ Magician Dan Chan shares how he grew his portfolio from $276,000 to over $1 million in under 8 years — without any tricks
▼ + stars: | 2024-08-24 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

A magician rarely reveals his tricks, but in a recent interview, Chan told BI about his simple but unconventional investing strategy. From breathtaking magic to eye-popping returnsAfter missing out on a once-in-a-lifetime opportunity, Chan took a harder route to striking it rich. Around the same time he joined PayPal, he started performing magic shows. AdvertisementFast-forward a few decades to March 2020, when stay-at-home orders threatened to sideline Chan's business. How to invest like a magician — and the company he's nearly all-in onThere's no smoke and mirrors behind Chan's returns.

Persons: —, Dan Chan, Chan, Merrill Lynch, David Copperfield, David Blaine, Elon Musk, George Lucas, Paula Abdul, Green, he's, He's, Chan's, Chan doesn't, shouldn't, Jensen Huang, Jensen, I've, Mark Zuckerberg Organizations: Service, Business, PayPal, Costco, Nvidia, Facebook, Google, YouTube Locations: Bay, what's

☆ Stocks like Nvidia are table-pounding buys, Bank of America says
▼ + stars: | 2024-08-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

The other stocks include: Ralph Lauren, Yeti, Goldman Sachs, and GE Aerospace. "We rate YETI shares Buy as we expect continued momentum supported by new product categories & international expansion," he said. Ralph Lauren "A hit down the fairway," analyst Christopher Nardone titled his recent recap of Ralph Lauren earnings. Meanwhile, Ralph Lauren shares are up 20% this year with plenty more room to run. ... We rate YETI shares Buy as we expect continued momentum supported by new product categories & international expansion.

Persons: Ralph Lauren, Goldman Sachs, Alexander Perry, Perry, Christopher Nardone, Nardone, Ebrahim Poonawala, Goldman, Poonawala Organizations: of America, Nvidia, GE Aerospace, U.S, Goldman, Bank of America, GE, Investment Locations: Europe, China, N.A, North America, N.A .

In addition to locations in Manhattan and Brooklyn, Cohabs has properties scattered across European cities including Madrid, Paris, London and Milan. Ishan Abeysekera decided that choosing a communal living space would increase his chances of making friends in a new city. Valentina Duarte | CNBC Make ItAbeysekera actually didn't set out to have so many roommates — or any roommates at all. On a whim, he looked up communal living in Brooklyn and came across Cohabs. Each person has their own locker in the communal living area, and the six refrigerators have enough space for each tenant to have their own shelf for their groceries.

Persons: Ishan Abeysekera, Valentina Duarte, —, Abeysekera, Ishan's Organizations: CNBC, Cohabs, Financial Locations: New York, Brooklyn, Manhattan, Cohabs, Madrid, Paris, London, Milan, New York City, Crown Heights , Brooklyn

☆ Why dividend stocks should be a hot play into fall
▼ + stars: | 2024-08-24 | by ( Ellie Stevens | ) www.cnbc.com time to read: +2 min

It appears more investors are eyeing dividend stocks ahead of the Federal Reserve's interest rate decision in September. Paul Baiocchi of SS&C ALPS Advisors thinks it is a sound strategy because he sees the Fed easing rates. ALPS is the issuer of several dividend exchange-traded funds including the ALPS O'Shares U.S. Quality Dividend ETF (OUSA) and its counterpart, the ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM). Relative to the S&P 500 , both dividend ETFs are overweight health care, financials and industrials , according to Baiocchi. Mike Akins, ETF Action's founding partner, views OUSA and OUSM as defensive strategies because the stocks generally have clean balance sheets.

Persons: Paul Baiocchi, CNBC's, Baiocchi, Mike Akins, OUSA, Akins Organizations: C Locations: U.S

☆ Trading Fed rate cuts: These banks are primed to outperform when rates fall, Evercore ISI says
▼ + stars: | 2024-08-24 | by ( Pia Singh | In | ) www.cnbc.com time to read: +2 min

A few well-known regional banks are poised to benefit from the Federal Reserve's upcoming interest rate cuts, according to Evercore ISI. Fed Chair Jerome Powell indicated on Friday that the central bank is ready for interest rate cuts ahead , although he declined to provide the exact timing or extent of the cuts. As investors await the Fed's moves, Evercore ISI used its updated asset/liability committee scenarios and several banks' net interest income commentary to find which names appear strongest in a lower interest rate environment. According to the note, Comerica, U.S. Bancorp and Fifth Third each forecast two interest rate cuts this year. Comerica shares dipped more than 10% on July 19 after the company posted its second-quarter results.

Persons: Jerome Powell, John Pancari, Pancari, Curtis Farmer, Truist Organizations: Federal, ISI, Comerica, Truist Financial, U.S . Bancorp, Fifth Third Bancorp, FactSet Locations: U.S

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.nbcnews.com time to read: +8 min

So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. “We’re quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range,” he told CNBC on Thursday. Gjaja’s comments came a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. Gjaja said the decision wasn’t taken lightly, especially the cancellation of the upcoming three-row vehicle, which Ford CEO Jim Farley and other executives had been touting as a game changer for several years. He said the Ford, in part, developed the skunkworks team to prove that Ford can compete against the Chinese automakers.

Persons: Marin Gjaja, We’re, “, Warren Buffett, Gjaja, Jim Farley, ” Farley, Ford, ” BofA’s John Murphy, John Lawler, Lawler, ” Gjaja, ” There’s, we’ve, ” Ford, Thursday, ” Organizations: DETROIT, Ford, CNBC, North America, EV, “, ICE, Wall Street, GM, General Motors Locations: U.S, Europe, North, California, China, ”

☆ Lily Allen says she returned pandemic puppy after it ate her family's passports and 'ruined my life'
▼ + stars: | 2024-08-23 | by ( Marlene Lenthang | Marlene Lenthang Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +2 min

English singer Lily Allen said she adopted a puppy during the Covid-19 pandemic, but returned it after it ate her family's passports. Jones cautioned that getting a dog with her husband, "Stranger Things" star David Harbour, is "a hell of a commitment." Allen said the pup ate her passport as well as those of her two daughters, Ethel, 12, and Marnie, 11, who she shares with her ex-husband Sam Cooper. Allen said "passports weren’t the only thing she ate." Allen and Harbour first sparked romance rumors in 2019 and they married in a Las Vegas wedding in September 2020, according to People Magazine.

Persons: Lily Allen, Steve Jones, Jude Bellingham, Jones, David Harbour, ” Allen, Allen, Ethel, Marnie, Sam Cooper Organizations: British Real Madrid soccer, People Magazine Locations: Welsh, Chihuahua, British, Covid, England, Allen, Las Vegas, New York City

☆ Here are Wolfe's favorite stocks as market approaches fresh record
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

According to Wolfe, Expedia has returned just 3% over the last twelve months and an estimated 2024 price-to-earnings ratio of 10. The online travel agency is rated overweight by analysts polled by FactSet, who have a consensus price target implying 11% potential upside. Walgreens is another long-term favorite that popped up on Wolfe's screens. The stock has 25.3 % potential upside, according to analysts' consensus price target of $12.57, according to FactSet. Other stocks that made Wolfe's "Greatest Hits List" included coffee chain Starbucks , automaker General Motors and medical device maker Medtronic .

Persons: Wolfe, Jerome Powell, Chris Senyek, Expedia, FactSet, Bernstein, Richard Clarke, Clarke, Edgar Bronfman Jr, Bronfman's Organizations: Wolfe Research, Federal, Dow, Nasdaq, Walgreens Boots, Walgreens, Amazon, Paramount Global, Skydance Media, National Amusements, Paramount, General Motors Locations: Deerfield , Illinois

☆ Is Nvidia's earnings report really make or break? Here's why we don't think so
▼ + stars: | 2024-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

While expectations are high and caution is certainly warranted, we don't think it's quite that simple. While the Oscillator and Williams' work do point to possible selling pressure ahead, we don't want to get too bearish. However, we don't think the risks are so elevated as to warrant more than a small cash raise. We still view Nvidia as an "own it, don't trade it" stock, but we also don't keep our heads in the sand. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Larry Williams, Williams, Jim, Estee Lauder, Morgan Stanley, hasn't, they've, We're, Jim Cramer's, Dominika Organizations: Nvidia, Club, Abbott Laboratories, Federal, Blackwell, Apple, Microsoft, Super Six, Jim Cramer's Charitable, CNBC, Nurphoto, Getty Locations: Williams

☆ Workday stock gains as software provider widens 2027 margin target
▼ + stars: | 2024-08-23 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Subscription revenue growth grew 17%. With respect to guidance, Workday is now looking for an adjusted operating margin of 25.25% in the 2025 fiscal year, compared with the 25% forecast it provided in May. In September 2023, Workday said it was targeting a 25% adjusted operating margin for fiscal year 2027 and subscription revenue growth between 17% and 19%. Deutsche Bank analysts led by Brad Zelnick increased their 12-month price target on Workday stock to $275 from $265. "The increased 30% operating margin target was the big upside surprise as it is now committed both sooner and greater than most were expecting," the analysts wrote.

Persons: Carl Eschenbach, Zane Rowe, Rowe, We're, Brad Zelnick, Piper Sandler, Jerome Powell, Carl Eschenbach didn't, Julie Biel Organizations: Deutsche Bank, Citi, Evercore ISI, Computing Fund Locations: Davos, Switzerland

☆ Here's our behind the scenes debate on whether to trim Best Buy ahead of next week's earnings
▼ + stars: | 2024-08-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. "We're debating maybe taking some profits into the quarter," Marks said, adding that big-ticket items like appliances aren't selling well right now given the weaker consumer. 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, Stocks, Jerome Powell's dovish Jackson, Powell, Jeff Marks, Evercore, Blackwell, Marks, Jim Cramer's, Jim Organizations: CNBC, Federal, Tech, Nvidia, Broadcom, Devices, Club, AMD

☆ Here are Friday's biggest analyst calls: Nvidia, Peloton, Chewy, Uber, Burlington Stores, BJ's Wholesale Club, Roku and more
▼ + stars: | 2024-08-23 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

JPMorgan downgrades Peloton to neutral from overweight "Following Thursday's +35% appreciation (vs. SPX -1%) we are moving from Overweight to Neutral rated as PTON's return to growth in CF Subs & Revenue remains challenging, & visibility is limited given secular & macro pressures." Wells Fargo reiterates Burlington Stores as top pick "We reiterate BURL as our "Top Pick" and see a highly visible growth/margin bull case unfolding in real time. The combination of 1) comp acceleration and 2) margin unlocks should be powerful, and we raise 2Q/FY numbers above Street. Wells Fargo upgrades BJ's Wholesale Club to overweight from equal weight "Margin investment is the right strategic shift despite n/t pain, and supplements robust member gains. Valuation is tricky, but comp ramp/return to algo in '25 point to upside."

Persons: Piper Sandler, Warby Parker, Uber, Nomura, Wells, BURL, Goldman Sachs, Bill.com, Guggenheim Organizations: Nvidia, RBC, Westlake, JPMorgan, CF Subs, Revenue, Bank of America, Waymo, Tesla, Burlington Stores, Wholesale

☆ Gold is outperforming tech stocks this year, and investors should keep buying, BofA says
▼ + stars: | 2024-08-23 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bank of America strategist Michael Hartnett advises buying gold amid record-high prices. Gold's year-to-date rally of about 20% is outperforming US tech stocks. AdvertisementInvestors should buy gold even as the metal hovers around record-high prices, according to Bank of America investment strategist Michael Hartnett. AdvertisementHartnett noted that gold is the only asset that's outperforming US tech shares. AdvertisementThe juxtaposition of record-high gold prices and negative outflows is "explained only by unprecedented central bank buying," Hartnett said, adding China's central bank was the largest buyer of gold in 2023.

Persons: Michael Hartnett, Hartnett, —, haven't Organizations: of America, stoke, Service, Bank of America, Federal Reserve, 2nd

☆ Stocks gain after Fed’s Powell hints rate cuts are coming
▼ + stars: | 2024-08-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Stocks rose Friday morning as Wall Street cheered a signal from Federal Reserve Chair Jerome Powell that long-awaited interest rate cuts are finally coming. Powell said that “the time has come” to ease rates, currently perched at a 23-year high, at a key economic summit in Jackson Hole, Wyoming. He also noted that the labor market has cooled enough not to pressure inflation higher and that the central bank does not want to see more weakening in job market conditions. Some officials also fretted that the softening labor market could weaken considerably if policy stays restrictive for too long. Recent data has shown that US job growth was weaker than previously estimated in the 12 months leading up to March.

Persons: Stocks, Jerome Powell, Powell, there’s, ”, Jack Janasiewicz Organizations: New, New York CNN, Federal, Dow, Nasdaq, Labor Statistics, Solutions, National Association of Realtors, Target, Boeing Locations: New York, Jackson Hole , Wyoming

☆ Stocks making the biggest moves premarket: Peloton, Workday, Chewy and more
▼ + stars: | 2024-08-23 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +2 min

Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.

Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, —, Samantha Subin, Jesse Pound, Pia Singh Organizations: —, JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo

JMP Securities upgraded Warby Parker to market outperform, calling for more than 40% upside. The financial firm upgraded shares of the streaming technology provider to buy from neutral. Analyst Michael Morris also established a 12-month price target of $75, which is approximately 21% higher than where shares closed on Thursday. Peloton stock is down 25% on the year. His price target of $20 implies upside of 44% from Thursday's close.

Persons: Warby Parker, Michael Morris, Morris, — Lisa Kailai Han, Wells, Wells Fargo, Edward Kelly, Kelly, BJ's, BJ, Lisa Kailai Han, Piper Sandler, Anna Andreeva, Andreeva, it's, Piper, Doug Anmuth, Anmuth, Nicholas Jones, Jones, Fred Imbert Organizations: CNBC, JMP Securities, JPMorgan, Guggenheim, BJ's, BJ's Wholesale, LT, Costco, CF Subs, Revenue, Warby, Warby Parker Inc Locations: ROKU, Chewy, Thursday's

☆ Nestle CEO departure seen as 'not such a bad thing' for investors, analyst says
▼ + stars: | 2024-08-23 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — Investors may think that the replacement of Nestle CEO Mark Schneider with company veteran Laurent Freixe is "not such a bad thing," analyst Jon Cox said Friday. "I think confidence has been severely hit in the case and particularly in Schneider," he told "Squawk Box Europe." "I presume most people will think it's not such a bad thing at this point for Schneider to go," he said. Freixe, who joined Nestle in 1986 and served most recently as executive vice president and CEO of the Latin America unit, will take over from Sept. 1. The company has struggled to retain market share as consumers have shifted away from labelled products amid inflationary pressures.

Persons: Mark Schneider, Laurent Freixe, Jon Cox, Cox, Kepler Cheuvreux, Schneider, Freixe, Laurent, Nestlé, Paul Bulcke Organizations: Nestle, Kepler, CNBC, America Locations: Schneider, London, Swiss

☆ 10 things to watch in the stock market Friday including big earnings movers
▼ + stars: | 2024-08-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Citigroup opened a negative catalyst watch on Ulta Beauty and lowered its price target to $375 in anticipation of an earnings miss next week. Club holding TJX Companies ' quarterly results topped expectations earlier this week, and it also lifted its guidance. Uber has a similar partnership with Club holding Alphabet 's Waymo in Phoenix. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell's, Jackson, Piper Sandler, Chewy, Wynn, Locker, Mary Dillon, Uber, Wells, Jim Cramer's, Jim Cramer, Jim Organizations: Federal, Nasdaq, Dow, Citigroup, UBS, Las Vegas Sands, Wynn Resorts, Ross, TJX Companies, Burlington Stores, Nike, Piper, Cruise, Club, BJ's Wholesale, Jim Cramer's Charitable, CNBC Locations: Macau, Las Vegas, Cava, Wells Fargo, Phoenix

☆ The best and worst airports to have an early morning flight, according to a travel expert who flies 200,000 miles a year
▼ + stars: | 2024-08-23 | by ( Joey Hadden | ) www.businessinsider.com time to read: +1 min

Travel expert Gilbert Ott advises booking early flights to avoid delays. The best airports for early flights are well-located and have hotels and good food. Go to newsletter preferences Thanks for signing up! AdvertisementNo one wants to wake up before the sun comes up to get to the airport, but taking the first flight out has its perks, says Gilbert Ott, a travel expert who flies roughly 200,000 miles a year. This story is available exclusively to Business Insider subscribers.

Persons: Gilbert Ott, —, Ott Organizations: Service, Business

☆ Northrop Grumman is among the most overbought stocks on Wall Street. Here are others
▼ + stars: | 2024-08-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A collection of stocks on Wall Street may have recently gotten ahead of themselves. Shares of aerospace and defense contractor Northrop Grumman have advanced roughly 9% in 2024 and 5% in August alone. The company's second-quarter results in July surpassed Wall Street estimates on the top and bottom lines, while Northrop's full-year revenue outlook also beat analysts' expectations. UBS analyst Gavin Parsons recently highlighted Northrop as the bank's top pick among aerospace and defense stocks, citing awards of two of the Pentagon's top three "priority programs" as well as higher defense spending. The deal, at a planned $83.50 per share, is the largest acquisition on Wall Street in 2024 so far.

Persons: Jerome Powell, Northrop Grumman, Gavin Parsons, Kellanova Organizations: Dow Jones Industrial, Nasdaq, FactSet, UBS, Northrop, Mars, Aflac, Edison International Locations: California

☆ Stocks making the biggest moves midday: Cava, Intuit, Ross Stores, Workday and more
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Cava Group — Shares of the fast-casual restaurant chain popped more than 21% on stronger-than-expected quarterly results . Cava posted earnings of 17 cents per share on $233 million in revenue in the fiscal second quarter. That topped LSEG estimates calling for earnings per share of 13 cents and revenue of $220 million. Ross Stores — The off-price retailer's stock price added 1.4% after the company beat earnings estimates by 9 cents a share in the second quarter. Ross matched revenue estimates of $5.25 billion, per LSEG.

Persons: Cava, Warby Parker, Nicholas Jones, Goldman Sachs, Bill.com, Ross, Tesla, Jerome Powell's, Piper Sandler, — CNBC's Hakyung Kim, Jesse Pound, Brian Evans, Samantha Subin, Lisa Kailai Han, Michelle Fox Organizations: Intuit —, Intuit, FactSet, JMP Securities, Warby's, UBS, Ross Stores, LSEG, Nvidia, Federal, Investors, VanEck Semiconductor Locations: Cava, Vegas, Macau

☆ GM’s Cruise will offer robotaxis on Uber’s platform starting next year
▼ + stars: | 2024-08-23 | by ( ) edition.cnn.com time to read: +2 min

Reuters —Cruise will offer its autonomous vehicles on Uber’s platform starting next year, the companies said on Thursday, as the General Motors-backed robotaxi firm attempts a comeback. The multi-year partnership will allow Uber riders to choose a trip using a Cruise autonomous vehicle, they said. Uber’s partnership with Cruise comes as Tesla CEO Elon Musk is set to unveil its delayed plans for a robotaxi product in October amid slowing demand for electric vehicles. Commercializing autonomous vehicles has been tougher than expected and taken longer than promised due to complex technology, soaring investments, tight regulatory scrutiny and federal investigations. Trips by self-driving vehicles on Uber’s platform rose six-fold in the June quarter year-on-year, helped by partnerships with companies including Waymo, as well as startup Waabi for freight services.

Persons: Reuters — Cruise, Uber, Alphabet’s, Cruise, Elon Musk, Dara Khosrowshahi Organizations: Reuters, General Motors Locations: Phoenix, U.S, San Francisco

☆ Why Ford believes its $1.9 billion shift in EV strategy is the right choice for the company, investors
▼ + stars: | 2024-08-23 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

In this article F Follow your favorite stocks CREATE FREE ACCOUNTA banner advertises the Ford Mustang Mach-E electric vehicle at a Ford dealership on August 21, 2024 in Glendale, California. So it might surprise investors that the automaker believes its new path to profitability for electric vehicles will first be led by smaller, more affordable vehicles. "We're quite convinced that the highest adoption rates for electric vehicles will be in the affordable segment on the lower size-end of the range," he told CNBC on Thursday. Gjaja's comments come a day after the automaker announced updates to its EV strategy that will cost up to $1.9 billion. He said the Ford, in part, developed the "skunkworks" team to prove that Ford can compete against the Chinese automakers.

Persons: Mario Tama, Marin Gjaja, Warren Buffett, Gjaja, Jim Farley, Farley, Ford, BofA's John Murphy, John Lawler, Lawler, There's, we've, Michael Wayland Organizations: Ford, Getty, DETROIT, CNBC, North America, EV, Wall Street, GM, General Motors Locations: Glendale , California, U.S, Europe, North, California, China

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