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In this articleTed Pick, CEO Morgan Stanley, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 18th, 2024. Morgan Stanley is set to report third-quarter earnings before the opening bell Wednesday. Here's what Wall Street expects:Earnings: $1.58 a share, according to LSEGRevenue: $14.41 billion, according to LSEGWealth management: $6.88 billion, according to StreetAccountTrading: Equities of $2.77 billion, Fixed Income of $1.85 billion, according to StreetAccountInvestment Banking: $1.36 billion, according to StreetAccountMorgan Stanley has several tailwinds in its favor. Finally, its Wall Street rivals have posted better-than-expected trading results, making it unlikely that the firm missed out on elevated activity. JPMorgan Chase , Goldman Sachs and Citigroup topped expectations, helped by better-than-expected revenue from trading or investment banking.
Persons: Ted Pick, Morgan Stanley, StreetAccount Morgan Stanley, JPMorgan Chase, Goldman Sachs Organizations: LSEG Revenue, Wealth, Investment, JPMorgan, Citigroup Locations: Davos, Switzerland
The US and Canada drive 70% of Netflix's revenue growth and are crucial for its future ad expansion. AdvertisementBy now, it's become a common refrain in Hollywood: Netflix has won the streaming wars. Amazon threw a wrench into Netflix's advertising ambitions by steamrolling into the market earlier this year. With subscriber growth potential limited in the US because Netflix is already quite saturated in the market, Netflix needs to ramp up ad revenue. While Netflix's ad tier growth is steadily adding inventory, those tech deals will take a couple of years to ramp up.
Persons: , it's, Nielsen, hasn't, steamrolling, It's, Tyson, Paul, Netflix execs, Amazon, What's, Dan Salmon, NewStreet, Lowell Singer, There's, Piper Sandler's Organizations: Wall Street, Netflix, Service, Amazon, Barclays, WWE, LightShed Partners, Citibank, Epic Games, Disney, Piper Locations: Canada
Buyers purchase call options when they expect a stock's price to move higher. He set a Wall Street-high price target at $38, which implies 31.7% upside over Tuesday's close. Further down the list, Royal Caribbean carried a 4.9% short interest share compared with the float. RCL NCLH,CCL YTD mountain Royal Caribbean vs. Norwegian and Carnival, year to date CrowdStrike also made the cut with a 4.4% short-interest-to-float rate. The average price target reflects the potential for shares to add more than 7% in the year ahead.
Persons: Goldman Sachs, John Marshall, Goldman, Marshall, TD Cowen, William Kerr, LSEG, Morgan Stanley, Jamie Rollo, NCLH, CrowdStrike Organizations: Goldman, Industry, Royal Locations: Royal Caribbean, Miami
European markets are heading for a lower open Wednesday as global market sentiment takes a turn lower. The U.K.'s FTSE 100 index is expected to open 6 points lower at 8,249, Germany's DAX down 35 points at 19,482, France's CAC down 59 points at 7,469 and Italy's FTSE MIB down 137 points at 34,246, according to data from IG. The lower open seen for Europe's major bourses follows declines on Wall Street Tuesday and comes as most Asia-Pacific markets traded lower overnight, with Japan's Nikkei leading losses. U.S. stock futures were calm Tuesday evening as Wall Street looked to see whether equities can be rebound to record highs this week; the S&P 500 and Dow hit all-time highs Monday. Earnings in Europe Wednesday come from chip firm ASML.
Persons: Germany's DAX, Morgan Stanley Organizations: France's CAC, IG, Japan's Nikkei, Dow Locations: Asia, Pacific, Europe
Watch CNBC's full interview with Morgan Stanley CEO Ted Pick
  + stars: | 2024-10-16 | 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 Morgan Stanley CEO Ted PickTed Pick, Morgan Stanley CEO, joins 'Squawk on the Street' to discuss the biggest holdup for the capital market recovery, if interest rates will get to a level that will reignite the IPO market, and much more.
Persons: Morgan Stanley, Ted Pick Ted Pick
US stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector. Morgan Stanley beat estimates on strong investment banking activity. AdvertisementUS stocks wavered on Wednesday as traders looked to recover from a sell-off in the chip sector and waited for another round of corporate earnings reports. The Nasdaq was down slightly as chip stocks struggled to recover from Tuesday's sell-off. Chip stocks stumbled in the previous session after ASML cut its sales guidance for 2025.
Persons: Morgan Stanley, , Wall Organizations: Service, Dow Jones, Nasdaq, AMD, Nvidia
NEW YORK, NEW YORK - OCTOBER 16: Traders and others work on the New York Stock Exchange (NYSE) floor in New York City. U.S. stock futures hovered near the flatline Wednesday evening after the Dow Jones Industrial Average closed at a record for the second time this week. Futures tied to the S&P 500 and Nasdaq 100 futures fell around 0.1% each. The S&P 500 rose 0.47%, while the tech-heavy Nasdaq Composite added 0.28%. On the economic front, traders will be looking toward weekly jobless claims and September's retail sales due on Thursday.
Persons: Adam Crisafulli, It's, Morgan Stanley, Blackstone Organizations: NEW, Traders, New York Stock Exchange, Dow Jones, Dow, Nasdaq, Alcoa, Transport, CSX, Vital Knowledge, Travelers, Elevance, T Bank, Truist Locations: New York City . U.S
She took the rare step of answering questions in the town-hall style radio program — and got some tough ones about her commitment to the Black church and Black voters’ economic problems. On Wednesday, Harris will venture into the lion’s den on Fox News hoping to reach another important group of voters. Trump trails Harris among female voters in most polls and badly needs to narrow that gender gap with 20 days to go. Vice President Kamala Harris participates in an interview with radio host Charlamagne Tha God, in Detroit on October 15, 2024. But Harris hit back on Charlamagne Tha God’s “The Breakfast Club,” saying that Black voters need to think carefully about the future.
Persons: Donald Trump, Kamala Harris, , , Charlamagne, Jacquelyn Martin, Harris, Barack Obama, Trump, ” Harris, Megan Varner, Gabriel Sterling —, , Jim Crow, John Micklethwait, Scott Olson, “ You’ve, ” Trump, Vladimir Putin, Bob Woodward’s, Kevin Lamarque, Reuters Harris Organizations: CNN, Republican, Economic, of Chicago, Black, White, Fox News, Trump, Metropolitan Library, Peach State, GOP, Bloomberg, Economic Club, Getty, Bloomberg News, Reuters Locations: Washington, Detroit, Atlanta, Georgia, Peach, Chicago, British
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, Goldman Sachs' earnings result might be a sign of the long-awaited return of M&A . The big storyM&A for allWin McNamee/Getty ImagesDon't look now, but M&A might finally be coming back. Goldman Sachs, Wall Street's perennial M&A king, smashed analysts' third-quarter expectations , notching $3 billion in profits. One analyst took things a step further, floating the idea of an "M&A supercycle" once the money that's been sitting on the sidelines finally gets put to work.
Persons: , Goldman Sachs, Win McNamee, Insider's Reed Alexander, David Solomon, that's, Jenny Chang, Rodriguez, Mariana Bazo, Tyler Le, TSMC, Biden, Donald Trump, Elon Musk, TK, Alex Brandon Elon Musk, Kamala Harris, Alain Tascan, Jeet Shroff, Shroff, Morgan Stanley, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, LaGuardia Airport, Getty, BI, Monetary Fund, Chartered, Apple, Bloomberg, Google, Trump, PAC, America PAC, AP, Trump PAC, Epic, Discover Financial Services Locations: Midtown Manhattan, China, lockstep, New York, London
We did hold onto our rate-sensitive names like Wells Fargo and Morgan Stanley , which were among the best performers since the last Monthly Meeting. Morgan Stanley: 16.2% Following the Fed's decision, shares advanced as investors became more optimistic about a soft landing for the U.S. economy. Morgan Stanley benefits from lower rates — and, in turn, a better economy — because it can usher in more Wall Street dealmaking such as initial public offerings and mergers and acquisitions. That's because the Club has been debating exiting Morgan Stanley altogether for a potentially better investment banking rebound play like Goldman Sachs. Morgan Stanley reiterated its buy-equivalent rating on Oct. 10, arguing that Eaton has a positive setup into earnings season.
Persons: It's, Wells, Morgan Stanley, Morgan, Goldman Sachs, Morgan Stanley's, Salesforce, Marc Benioff, Piper Sandler, Guggenheim, Meta, Eaton, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow Jones Industrial, Dow, Procter, Gamble, Meta, Fed, Northland Capital Markets, UBS, Citigroup, Analysts, JPMorgan, Jim Cramer's Charitable, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: U.S, Wells Fargo, Salesforce, Eaton, Tuesday's, Northland
The financial services company posted third-quarter results that surpassed expectations, with earnings of $3.69 per share on $4.45 billion of revenue. Alcoa posted third-quarter adjusted earnings of 57 cents per share, topping analysts' estimate for 28 cents a share, per LSEG. Kinder Morgan reported adjusted earnings per share of 25 cents and revenue of $3.70 billion. Management also announced it expects to fall below budget on adjusted earnings before interest, taxes, depreciation and amortization and adjusted earnings per share by 2% and 4%, respectively. PPG Industries posted adjusted earnings of $2.13 per share on $4.58 billion in revenue.
Persons: LSEG, Lucid, Kinder Morgan —, Kinder Morgan, Equifax, , Darla Mercado Organizations: Discover, CSX, Alcoa —, Alcoa, Revenue, Third Investment Company, Public Investment Fund, Management, PPG, Green, Dynamics, Steel Dynamics
Mizuho upgrades Duke Energy to outperform from neutral Mizuho said investors should buy the dip in the energy company. Barclays upgrades Doximity to overweight from equal weight Barclays said it sees growth potential for the online networking services provider for medical professionals. TD Cowen upgrades SM Energy to buy from hold TD Cowen said the energy company has "multiple resource catalysts." Barclays initiates Bruker as overweight Barclays said it's bullish on the analytical biotech solutions company. " Goldman Sachs reiterates Adobe as buy The firm said it sees "growth tailwinds" after attending the company's Adobe MAX conference.
Persons: Stephens, it's, Wells, Tesla, Berenberg, it's bullish, Wedbush, Mizuho, Goldman Sachs, Goldman, BTIG, Morgan Stanley, McDonald's, TD, TD Cowen, Price, Crane Organizations: Valvoline Inc, YouTube, Cadence Design, Netflix, Nvidia, AMD, Citi, Consolidated Edison, Duke Energy, Mizuho, Barclays, Etsy, Global, RBC, BMW, Mercedes, Volkswagen, Energy, Holdings, TD Cowen, BMO, AIG, Adobe, MAX, Constellation Energy Locations: China, North America
Elon Musk’s empire of misinformation
  + stars: | 2024-10-15 | by ( Allison Morrow | ) edition.cnn.com   time to read: +6 min
New York CNN —At any Tesla event, you have to go in expecting a good amount of smoke and mirrors. This is the company run by Elon Musk, after all — its self-anointed Technoking who’s made overpromising and underdelivering a theme of his career. ICYMI: The robotaxis, Tesla’s fully driverless vehicles that it hopes to put into service next year, were the main event. But Musk’s reality distortion field is something else entirely — hardly limited to overly optimistic timetables or pie-in-the-sky projections for Tesla’s delivery schedule. In a twist, though, X dropped Unilever from the lawsuit on Friday.
Persons: CNN Business ’, Elon Musk, Technoking who’s, Tesla, ” Gordon Johnson, ” Morgan Stanley, Adam Jonas, they’re, Steve Jobs, Donald Trump, , Craig Fugate, X Organizations: CNN Business, New York CNN, Elon, Bloomberg, , Apple, National Guard, FEMA, Washington Post, CNN, NBC, ” Unilever, , Unilever Locations: New York, Carolina
There are two things that could go wrong in the economy that could lead to a recession, Morgan Stanley said. AdvertisementThe US economy appears on track to keep growing, but there are two things that could spoil the no-recession forecast on Wall Street, according to Morgan Stanley. A slowdown, then people get laid off, laid off people spend less, the economy slows down more, and it snowballs," he added. "So that's another place where I think we could be wrong," Carpenter said of his recession forecast, though he reiterated that a downturn wasn't his baseline view. And if anything, where we were wrong with our forecast so far is that things have turned out even better than we dare hoped," Carpenter added.
Persons: Morgan Stanley, , Seth Carpenter, Carpenter, Trump, Morgan, we've Organizations: Service, Bureau of Labor Statistics, New York Fed
Stock futures were calm on Tuesday evening as Wall Street looks to see whether equities can be rebound to record highs this week. Futures tied to the S&P 500 were flat. Nasdaq 100 futures ticked up by less than 0.1%, while Dow Jones Industrial Average futures added just 2 points. The Dow and S&P 500 both slipped from their recent records during Tuesday's regular trading session, falling 0.75% and 0.76%, respectively. Tech stocks – semiconductors, in particular – weighed on the S&P 500 and the Nasdaq.
Persons: Bryn Talkington, Morgan Stanley Organizations: Dow Jones Industrial, Dow, Nasdaq, Tech, Nvidia, Management, UnitedHealth, Abbott Laboratories
Bank of America topped analyst estimates for third-quarter profit and revenue on better-than-expected trading results. Here's what the company reported:Earnings: 81 cents vs. 77 cents LSEG estimateRevenue: $25.49 billion vs. $25.3 billion estimateThe bank said Tuesday that net income fell 12% from a year earlier to $6.9 billion, or 81 cents a share. Revenue rose less than 1% to $25.49 billion as a rise in trading revenue and asset management and investment banking fees offset a decline in net interest income. That's a key question after the lender signaled in July that a rebound in net interest income was coming in the second half of this year. Bank of America has seen its haul from net interest income get compressed as the Federal Reserve boosted rates over the past two years.
Persons: Wells, Goldman Sachs, Morgan Stanley Organizations: of America, Bank of America, Federal Reserve, JPMorgan Chase, Citigroup Locations: Wells Fargo
Wells Fargo on Friday was the first portfolio name to report third-quarter results, which have been greeted enthusiastically on Wall Street. Morgan Stanley and Abbott Laboratories — both Club names as well — report earnings before Wednesday's opening bell. Revenue and earnings estimates can be found on stock ticker pages on any number of free financial websites and through brokerage account providers. Portfolio management is a must. After considering these factors, be sure to then take a higher-level portfolio management view of your investments.
Persons: Wells, Morgan Stanley, Abbott Laboratories —, Jim Cramer's, , Eli Lilly, writeups, Stanley Black, Decker, Jim, Jim Cramer, Andrew Kelly Organizations: Abbott Laboratories, Abbott Labs, Microsoft, TJX, Palo Alto Networks, Club, Nvidia, Devices, Taiwan Semiconductor Management Company, Jim Cramer's Charitable, CNBC, Flag, New York Stock Exchange Locations: Wells Fargo, U.S
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. 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. 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.
Persons: Jim Cramer, Biden, ASML, Christophe Fourquet, We're, LVMH, Luis Vuitton, it's, Estee Lauder, JB Hunt, Morgan Stanley, Abbott, Wells Fargo, Jim Cramer's, Jim Organizations: CNBC, ., Energy, Technology, Dow, Semiconductors, Nvidia, Devices, Bloomberg News, U.S, Broadcom, Micron, Taiwan Semiconductor Manufacturing, United Airlines, Interactive, Abbott Laboratories, Jim Cramer's Charitable Locations: U.S, France, China, Estee
ChatGPT users are asking the AI to reveal any personal traits it's gleaned from their past conversations. The ChatGPT responses posted by people online revealed long, detailed analyses that pointed out traits from users' "thoughtful approach to conversations" or ability to "blend curiosity with analysis." AdvertisementSome ChatGPT users suggested follow-up questions for the AI that might result in a less complimentary response. One person on X suggested asking ChatGPT to give them "the real talk," and another on Reddit, for a similar prompt, suggested telling the bot to "play devil's advocate." The viral prompt suggests that many people are getting comfortable talking to AI and asking it personal questions.
Persons: , Tom Morgan, Sam Altman, ChatGPT Organizations: Service
We're about to enter the Digital Dark Ages
  + stars: | 2024-10-15 | by ( Adam Rogers | ) www.businessinsider.com   time to read: +11 min
Without laborious renaming, everything behind those links — billions of them, a decade of digital content — will become inaccessible. We're about to enter the Digital Dark Ages. The Department of Veterans Affairs is legally required to preserve all medical records for 75 years after the death of a vet — but it's having problems, in part because of a balky digital records system. "Over the long term, you can't preserve a digital object in its original form," says Manoff, the former MIT librarian. The Dark Ages, as historians used to call the early centuries of medieval Europe, lasted for 500 years.
Persons: Mark Graham, Graham, we're, Marlene Manoff, Loren McClenachan, McClenachan, we'd, Adam Rogers Organizations: Google, Companies, of Alexandria, New York Times, Pew Research Center, Gawker, Los Angeles Herald Examiner, New York Newsday, Paramount, MTV, Comedy, Yahoo Groups, Yahoo, Facebook, Penguin, AOL, Prodigy, Department of Veterans Affairs, Wayback, Wayback Machine, MIT Libraries, Scripps Institution of Oceanography, MIT, Business Locations: Friendster, Key West , Florida, Europe
Shares hit an all-time high Tuesday despite a chorus of recent concerns from Wall Street analysts about demand for the new artificial intelligence-enabled iPhone 16. Apple Intelligence is the company's new suite of generative artificial intelligence tools due out later this month. Available for preorder now, the tablet has a processor capable of supporting Apple Intelligence. Big picture The IDC data comes as many on Wall Street express skepticism around sales for the new iPhone 16 lineup. Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California.
Persons: Morgan Stanley, Apple's, Popal, swoon, Jim Cramer, Jim, Jim Cramer's, Tim Cook, Justin Sullivan Organizations: Apple, Wall Street, International Data Corporation, IDC, Samsung, Apple Intelligence, JPMorgan, Barclays, Bank of America, Club, Nvidia, U.S, CNBC Locations: U.S, Cupertino , California
Keep reading to learn how to watch Philadelphia Flyers vs. Edmonton Oilers live streams. Below, we've compiled everything you need to know about watching the Flyers vs. Oilers. What channel is the Philadelphia Flyers vs. Edmonton Oilers game on? The Philadelphia Flyers vs. Edmonton Oilers game will air on ESPN in the US. Check price at ExpressVPNHow to watch Philadelphia Flyers vs. Edmonton Oilers with a VPNSign up for a VPN if you don't already have one.
Persons: you've, ExpressVPN Organizations: Business, NHL, Flyers, Oilers, Philadelphia Flyers, Edmonton Oilers, Vancouver Canucks, Calgary Flames, The Oilers, Florida Panthers, Flames, Chicago Blackhawks, Winnipeg Jets, . Oilers, ESPN, DirecTV, Sling, ESPN2, ESPN3, Fubo Locations: Canada, Philadelphia, Edmonton
The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.
Persons: Roundhill, , selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific
Joan of Arc: Why does her image still resonate?
  + stars: | 2024-10-15 | by ( Tacita Quinn | ) edition.cnn.com   time to read: +8 min
CNN —More than 800 years after her birth, Joan of Arc — a patron saint of France — remains an object of not just historical, but cultural fascination. Humble beginningsOne of five children in a peasant family in Domrémy, in north-eastern France, Joan was born in the year 1412. The Amazonian image of Joan of Arc in armor is perhaps the most recurrent one in popular culture, inspiring thousands, if not hundreds and thousands, of similar depictions. It also provided the inspiration for Carl Theodore Dreyer’s silent film The Passion of Joan of Arc (1928) starring Renée Jeanne Falconetti. She is also a cautionary tale for young women, a brutal warning of the fickle nature of celebrity and a symbol of morality and strength.
Persons: Joan of Arc, we’ve, Chappell, Joan of, Jeanne Friott, Robert Mercier, Baz Luhrmann’s, Fiona Apple, Joe McNally, ” McNally, unapparent, Chloe Sevigny, Zendaya, Joan, Dauphin, King Charles VII, J, Ingres, Dauphin —, , Katherine J, Chen, Joan ”, Jules Bastien, Lepage, Alexander McQueen, Arc, Ingrid Bergman, Victor Fleming, Loomis Dean, Eleanor Jackson, , ” Jackson, Rubens, Rossetti, Milla Jovovich, Charles, King of France, Luc Besson, Carl Theodore Dreyer’s, Renée Jeanne Falconetti, Rayne Fisher, Quann, ” Chappell Roan, Mike Coppola, ” Fisher, , I’ve, , Roan, Sevigny, , McNally, InStyle, Fındıkoğlu, Joan’s, Emma Corrin, Hari Nef, Chloe Sevigny's, Sara Jaye Weiss, ” Chen Organizations: CNN, Disney, France, Dauphin, British Library, auburn, Gaumont, MTV, Apple, London Fashion Locations: France, Domrémy, Dauphin of France, Hulton, Orléans, French, Loire, Reims, Compiegne
She said that Ferring has grown more intentional about focusing on worker well-being, which is particularly important for the highly competitive field of healthcare. What are the benefits for companies focused on worker well-being? We've defined well-being in a holistic way, so it's not just about physical well-being; it's also about mental well-being and financial well-being. What advice do you have for other companies that are just getting started thinking about DEI and worker well-being initiatives? What policies demonstrate your focus on worker well-being?
Persons: , Johnson, JP Morgan, Ferring, We've, it's, I've, we've, you've Organizations: Ferring Pharmaceuticals, Service, gastroenterology, Johnson, American Express, Pharma, pharma Locations: Swiss, Switzerland
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