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Bank of America reiterates Amazon as buy Bank of America said it's sticking with its buy rating on Amazon following CEO Andy Jassy's letter to employees on Monday. Bank of America adds Palantir to the US1 list Bank of America added the stock to its top picks list. Bank of America reinstates Carvana as buy Bank of America resumed coverage of Carvana and upgraded it to buy saying it sees accelerating growth. Bank of America upgrades Hewlett Packard Enterprise to buy from neutral Bank of America said shares of the company are "attractive." Bank of America upgrades GE Vernova to buy from neutral Bank of America said it sees a "power surge" for the stock.
Persons: Oppenheimer, Andy Jassy's, Andy Jassy, Bernstein, Tesla, underperform Bernstein, Redburn, LSCC, Ford Tamer, Mizuho, DELL, Morgan Stanley, Virgin, Jefferies, it's bullish, JEF, ARMK, Baird, BTIG, " Jefferies, SolarEdge Organizations: Nvidia, " Bank of America, Bank of America, Semiconductor, Stifel, Board, Dell, JPMorgan, ViaSat, United Airlines, Viasat, IFC, Virgin Galactic, Virgin, Citi, UBS, APP, RBC, Baird Conference, Burger, Walmart, Technologies, Healthcare, Barclays, D, WEC, Hewlett Packard Enterprise, of America, Hewlett, Packard Enterprise, GE, Gas Power Services Locations: Europe
I recently bought a used car, and I ended up getting gap coverage and an extended warranty. Gap insurance is crucialGap insurance is a type of car insurance that covers the difference between what you owe on your car loan or lease and the car's actual cash value in the event that your vehicle is totaled or stolen. So, for me, paying $1,060 extra for gap coverage and also checking to make sure my auto insurance coverage is sufficient is well worth it. If you're looking for the best car insurance, look no further. MaxCare provides coverage for unexpected vehicle repairs after the manufacturer's warranty has expired, protecting you from high out-of-pocket repair costs.
Persons: , MaxCare, I'm Organizations: Service, CarMax Locations: CarMax
Citi lowered its price target on Micron Technology ahead of earnings. The analyst downgraded the solar photovoltaic system stock to underperform from hold and lowered its price target to $17 per share from $27. The firm upgraded the biotechnology stock to buy from hold and raised its price target to $150 per share from $95. The firm initiated coverage of the personal computing and technology stock with an outperform rating and a $135 per share price target. "Shopify holds a significant advantage in the social ecommerce space, with its breadth of direct social media integrations that are crucial for social ecommerce," Ball added.
Persons: Jefferies downgrades SolarEdge Jefferies, Dushyant Ailani, Brian Evans, BioNTech Jefferies, Jefferies, BioNTech, Akash Tewari, Vijay Rakesh, DELL, — Brian Evans, Dominic Ball, Ball, Shopify, Christopher Danely, Danely, Fred Imbert, ~$ ( ~ $ ~$) Organizations: CNBC, Tuesday, Citi, Micron Technology, Jefferies, BNT327, Mizuho, Dell, Mizuho Securities, Micron, MU Locations: Europe, 2024E, China, Monday's
CNN —US military aid packages for Ukraine have been smaller in recent months, as the stockpiles of weapons and equipment that the Pentagon is willing to send Kyiv from its own inventory have dwindled. The shift comes amid concerns about US military readiness being impacted as US arms manufacturers play catchup to the huge demand created by the war against Russia. In April, Congress gave the Biden administration an additional $13.4 billion to use specifically to send Ukraine weapons and equipment drawn from US stockpiles. There are also limits, the official added, to how quickly Ukraine can absorb the equipment and distribute it effectively. Austin acknowledged at the meeting that the US is working to ramp up production and “speed up deliveries” to Ukraine.
Persons: Biden, , Pat Ryder, It’s, won’t, Volodymyr Zelensky, Zelensky, Defense Department hasn’t, Defense Lloyd Austin, Austin, ” Austin, Organizations: CNN, Pentagon, Russia, Russia’s, Patriot, National Security Council, Ukraine Defense Contact Group, Defense Department, Congress, , Defense Locations: Ukraine, Germany, Kyiv
Companies can face data-security challenges with cloud storage and access management. Dan Benjamin, the senior director of product management at Prisma Cloud, a cloud-security platform made by Palo Alto Networks, said that incorporating data-security posture management into cybersecurity strategies could help solve many of these problems. This is crucial, as an IBM report published in 2023 estimated that 82% of data breaches involved data stored in the cloud. Organizations also often use several cloud systems and sometimes lack a solid security strategy for maintaining, updating, and securing data. Liat Hayun, the vice president of product management and research of cloud security at the cybersecurity company Tenable, said cloud environments' flexibility makes them attractive to companies.
Persons: , Dan Benjamin, Benjamin said, Liat Hayun, Tenable, they're, Hayun, haven't, Benjamin, DSPM, Julie Madhusoodanan, Madhusoodanan Organizations: Service, Palo Alto Networks, LinkedIn, Companies Locations: DSPM, Normalyze
A Starlink terminal installed on a Hawaiian Airlines aircraft. Hawaiian AirlinesPARIS — SpaceX nearly doubled its backlog of Starlink in-flight Wi-Fi orders with last week's United Airlines deal, a company director said Tuesday. Last week, United said it will outfit its more than 1,000 planes with Starlink and won't charge customers for the Wi-Fi. SpaceX has previously announced in-flight deals and has started service with Hawaiian Airlines , Qatar Airways, Japan's Zipair, Latvia's airBaltic and semi-private charter airline JSX. Nick Galano, SpaceX director of Starlink Aviation Sales and Partnerships, center, speaks at the World Space Business Week conference in Paris on Sept. 17, 2024.
Persons: Nick Galano, United, Gogo, Japan's, Latvia's, Galano, SpaceX, Michael Sheetz Galano, Glenn Latta, Latta, We've Organizations: Hawaiian Airlines aircraft, Hawaiian Airlines PARIS, SpaceX, United Airlines, IFC, Starlink's, Viasat, Panasonic, Thales, Hawaiian Airlines, Qatar Airways, Starlink Aviation, CNBC, Delta Air Lines, Delta Locations: Paris, United
Nearly all buyers (95%) — including hedge funds, venture capital managers, and consultants — surveyed by research firm Neudata expect their 2025 budget to grow or remain the same. "The mood among alternative data buyers and sellers is one of confidence," the report reads in a section about the expected "budget boom." AdvertisementAnd this boom might hurt hedge funds' wallets. Alternative datasets have become increasingly viewed as table stakes, shifting from "nice to have" to "need to have" internally. There's also a surge of interest in using alternative data backlogs to train AI models, giving long-running alternative data vendors another leg up in negotiations.
Persons: , There's, Neudata Organizations: Service, Business, Jefferies
Boeing 737-790 aircraft belonging to Alaska Airlines is seen flying at Anchorage Ted Stevens International Airport in Anchorage, Alaska, United States on July 2, 2024. Alaska Airlines and Hawaiian Airlines can go through with their planned merger, but they must maintain the value of their airline reward systems and preserve several key routes, the U.S. Department of Transportation said Tuesday. The two carriers' $1.9 billion merger agreement cleared the U.S. Justice Department's review last month. That put it in the hands of the Transportation Department, which must also review airline mergers. The Department of Transportation noted that the airlines can begin the process of closing the merger, but still need approval for a transfer application, which allows them to combine and operate international routes under one certificate.
Persons: Anchorage Ted, Department's, Transportation Pete Buttigieg Organizations: Boeing, Alaska Airlines, Anchorage, International, Hawaiian Airlines, U.S . Department of Transportation, U.S ., Transportation Department, Transportation, Department Locations: Alaska, Anchorage , Alaska, United States, U.S
Two former high-ranking New York City Fire Department chiefs were indicted by federal prosecutors Monday on charges of pocketing bribes to expedite fire safety reviews. The charges come as Mayor Eric Adams' administration has been under scrutiny from prosecutors from the U.S. Attorney's office in Manhattan. "New Yorkers deserve better," U.S. Attorney Damian Williams said at a press conference where he announced the charges against the former chiefs, Anthony Saccavino and Brian Cordasco. Jocelyn Strauber, head of the New York City Department of Investigation, told reporters all the sites have since been re-inspected. Both are no longer with the FDNY — Saccavino retired in March and Cordasco retired in June.
Persons: Eric Adams, Edward Caban, Damian Williams, Anthony Saccavino, Brian Cordasco, Cordasco, Williams, Jocelyn Strauber, Saccavino, Robert Tucker, Adams, Caban’s, Sheena Wright, Public Safety Philip Banks III, , ” Williams Organizations: New York, New York City Fire Department, Police, U.S, FDNY, department's, of Fire Prevention, New York City Department of Investigation, Department, FBI, Public Safety Locations: New York City, Manhattan
The Titan submersible plunged thousands of feet down the forbidding depths of the North Atlantic Ocean in search of the Titanic wreck site when it imploded, killing all five on board. OceanGate came under heavy scrutiny as a result of the disaster — an almost unheard-of occurrence in the submersible industry. But after the Titan didn’t return at its scheduled time, the Polar Prince contacted the Coast Guard. The suit remains ongoing, and a former OceanGate engineering director, Tony Nissen, named as a defendant, is expected to appear Monday at the Coast Guard hearing. “The Titan submersible did not just go down with its inventor — it went down with paying passengers.”
Persons: , Guillermo Söhnlein, Jason Neubauer, OceanGate, , voyagers, Polar Prince, Paul, Henri Nargeolet, Hamish Harding, Shahzada Dawood, Suleman, Rush, “ Stockton, I’d, ” Söhnlein, David Lochridge, Lochridge, ” OceanGate, Nargeolet, Tony Nissen, Neubauer, Peter Girguis, there’s, ” Girguis Organizations: Coast Guard, Marine Board, OceanGate, Marine Board of, Department of Justice, Polar, Stockton Rush, Associated Press, Harvard University, Oceanographic Locations: Canada’s, French, North Charleston , South Carolina, Washington, U.S
Read previewCovering aircraft with tires, as Russia has done during the Ukraine war, can confuse weapons that are looking for the plane, a US military official said recently. Multiple Russian military aircraft, including fighter jets and bombers, were spotted last year with tires placed on top of them. While some observers suggested they might be meant to confuse image-matching weapons, others said they might be intended as shields. Russia has turned to several different deceptive practices during the war beyond placing tires on its aircraft. And Russia and Ukraine have both relied on decoy military equipment, such as inflatable tanks, wooden rocket launchers, and fake radar reflectors, among other weapons.
Persons: , Schuyler Moore, " Moore, Brace, Moore's, Moore Organizations: Service, Business, US Central Command, Center for Strategic, International Studies, Russia, Kyiv, Russian Air Force, CSIS Locations: Russia, Ukraine, Russian, Moscow
CNN —The first image of the Titan submersible sitting at the bottom of the ocean following its catastrophic implosion last year was shared by the US Coast Guard on Monday as investigators opened a hearing into the tragedy. In the photo released Monday, the submersible’s broken tail cone is seen on the hazy blue floor of the North Atlantic Ocean. The tail cone was severed from the rest of the vessel, its edges ragged, while a ripped fragment of the vessel is seen nearby. The board on Monday called its first witnesses, including former employees of OceanGate, the firm that developed and operated the submersible. Seconds later, the Titan was “pinged” for the last time, and the mother ship lost track of the vessel.
Persons: Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, , , , Jason Neubauer Organizations: CNN, Titan, US Coast Guard, Marine Board of Investigation, Stockton Rush, Marine Board of, OceanGate, Coast Guard, Department of Justice Locations: North Charleston , South Carolina, Newfoundland, Canada
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The new platform, called Condor, was initially designed to replace a cobbled-together patchwork of different systems — some built more than a decade ago — underpinning Man AHL, the firm's systematic-trading arm. Over time, Man built different systems to trade them all. With Condor, Fitzgerald wants to bring those together — the research, the trading, and the logging — into a single platform. But software engineers adding functionalities, risk teams managing exposure, and support teams ensuring trading systems are running will also be using Condor.
Persons: , Barry Fitzgerald, Fitzgerald, cohead, it'll, Condor Organizations: Service, Business, Condor, Man AHL, AHL
CNN —Engineers at NASA have successfully fired up a set of thrusters Voyager 1 hasn’t used in decades to solve an issue that could keep the 47-year-old spacecraft from communicating with Earth from billions of miles away. Currently the farthest spacecraft from Earth, Voyager 1 is about 15 billion miles (24 billion kilometers) away. Earlier this year, engineers spotted an issue when the fuel tube inside one of Voyager’s thrusters became clogged. Engineers switched again to the trajectory correction thruster set in 2018 when the second set also appeared clogged. Once the spacecraft has exhausted this thruster set, Voyager 1’s remaining option is the other already clogged set of attitude propulsion thrusters.
Persons: Calla, , It’s, Todd Barber, Suzanne Dodd, ” Barber Organizations: CNN — Engineers, NASA, Jet Propulsion Laboratory, JPL, Caltech, Engineers Locations: Pasadena , California
Read previewIt's shaping up to be a bustling period for new hedge funds. Startup funds have allies in investment bank prime brokerage units, a crucial lifeline to hedge funds and a growing business on Wall Street. AdvertisementMorgan Stanley has long been home to one of the top prime brokerages, and serving hedge funds is key to the bank's equities ambitions. These are 3 of the top stumbling blocks for startup fund managers and how to handle them, according to Novick and Shaw. AdvertisementBut beyond that, continuing to engage with prospects is simply a sound business strategy.
Persons: , Jon Caplis, Morgan Stanley, Ted Pick, Penny Novick, Kim Shaw, Shaw, Morgan Stanley's, Novick, they're, allocators, Hone, haven't Organizations: Service, Business, Viking
The Biden Administration on Monday awarded Intel up to an additional $3 billion under the CHIPS and Science Act for the "Secure Enclave" program which is designed to expand the supply of microelectronics for the U.S. Department of Defense. Intel is building foundry plants in four states as part of its project to increase domestic semiconductor manufacturing for other suppliers. In March, the Biden administration awarded Intel with up to $8.5 billion under the CHIPS and Science Act. Intel CEO Pat Gelsinger, in a recent meeting with Commerce Secretary Gina Raimondo, voiced frustration over the heavy reliance that U.S. companies have on Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker. The company announced in August it would cut 15% of its workforce as part of a $10 billion cost-reduction plan.
Persons: Biden, Pat Gelsinger, Gina Raimondo, Intel's, Chris George, , Seema Mody, Rohan Goswami Organizations: Biden, U.S . Department of Defense, Intel, CNBC, Taiwan Semiconductor Manufacturing, Department of Defense, Rapid, Microelectronics, United States Locations: United
His success has also helped fuel a boom in family offices, a financial structure pioneered by J.P. Morgan and popularized by the Rockefellers. Today there are thousands of family offices globally, with the total number tripling between 2019 and 2023, according to the data provider Preqin. To protect Page, Osborne has long remained hidden, the man behind the megabillionaire's curtain. AdvertisementThe small staff at Koop, Page's family office in Palo Alto, are fiercely committed to Page's privacy. Through his investment in Way2B1, Page is seeking to make money by monetizing the techniques he uses to make money.
Persons: Thomas, Larry Page, Wayne Osborne, Osborne, Koop, , Wayne, Jeffrey Epstein, Gmail, Page, he's, Larry, Morgan, Morgan Stanley, hasn't, Justin Sullivan, hawking, Sergey Brin, George Pavlov, Mark Zuckerberg, Jeff Bezos, Melinda Lewison, Natasha Pearl, Aston Pearl, James Estrin, Helen Frankenthaler, Minerva, Joseph E, Brooks, Taylor, Mortimer Zuckerman, Zuckerman, he'd, who'd, Koop's, Ken Goldman, Eric Schmidt, Hugh Langley, Michael Floyd, Floyd, Page's, Lucy Southworth, Southworth, It's, Way2B1, it's, Gilles Martin, Hal Bailey Organizations: QS, Osborne, J.P, Google, Harvard Business School, Princeton Theological Seminary, Presbyterian Church, New York Times, Minerva, U.S . News, Boston Properties, Shell, CIA, Energy Technologies, Oceankind, Forbes, Business, Fiji Locations: New York, Caribbean, St, Palo Alto , California, Wayne, Mississippi, Connecticut, Silicon Valley, U.S, Silicon, Palo Alto, Koop, Nola, margarita, Way2B1, Fijian, superyachts, New Zealand, Fiji
While that may give some investors pause, veteran tech investor Trent Masters continues to see promise, revealing four stocks he has a "high degree of conviction" in. They are: Nvidia , Motorola Solutions , Trane Technologies and Sherwin-Williams . Trane Technologies Beyond the traditional tech plays, Masters is betting on Trane Technologies, a company specializing in heating, ventilation, air-conditioning and refrigeration systems. The average price target for Trane Technologies is $361.46, according to FactSet data, giving it a 0.8% discount. Sherwin-Williams Outside tech, Masters likes paint manufacturer Sherwin-Williams thanks to its "very strong ... business (with a) good returns profile."
Persons: Trent Masters, Sherwin, Williams, CNBC's, Jensen Huang's, Masters, — CNBC's Jim Cramer Organizations: Nvidia, Motorola Solutions, Trane Technologies, Sydney, Alphinity Investment Management, Motorola, Land Mobile
In July, regulators fined the bank $136 million for failing to fix its data quality issues quickly enough. "Data and technology are intrinsically linked and the maturity and sustainability of our Data Transformation plan require that we leverage technology more," the memo reads. AdvertisementCiti is also appointing a new leader to run its Chief Data Office: Ashutosh Nawani, who previously led enterprise risk management. Nawani will report to Ryan and serve as head of enterprise data office and data transformation. Mehta became chief data officer the following month.
Persons: , Tim Ryan, Anand Selva, Ryan, we've, Selva, We've, Ashutosh Nawani, Nawani, Japan Mehta, Jane Fraser, Kathleen Martin, Martin, Mehta Organizations: Service, Citigroup, Citi, Business, PricewaterhouseCoopers, Revlon, Data, PwC, OCC Locations: London, Japan, India, Asia, Singapore, New York, Selva
CNN —The US Coast Guard on Monday will begin a multi-day hearing to examine the loss of the Titan – the ill-fated submersible authorities said imploded in the North Atlantic Ocean in June 2023, killing all five people aboard during a dive to the wreckage of the Titanic. The public hearing will be conducted by the Marine Board of Investigation that was convened within days of the submersible’s disappearance. The MBI – the highest level of inquiry by the Coast Guard – was tasked with reviewing the cause of the tragedy and offering recommendations, including about potential civil penalties and criminal prosecution. The MBI is made up of numerous Coast Guard officials and at least two from the National Transportation Safety Board, according to a list provided by the Coast Guard. When the investigation is complete, the US Coast Guard and the National Transportation Safety Board will each conduct an independent analysis and complete reports, Neubauer said Sunday.
Persons: Coast Guard –, ” Jason Neubauer, , , Neubauer, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, ” Neubauer Organizations: CNN, US Coast Guard, Marine Board of, MBI, Coast Guard, Stockton Rush, OceanGate Expeditions, OceanGate, National Transportation Safety, NASA, Boeing, Department of Justice, Marine Board, Investigation, National Transportation Locations: Newfoundland, Canada, Everett, Washington, North Charleston , South Carolina
If Bill Gates had to start all over again, he'd join the artificial intelligence arms race with an "AI-centric" startup, he says. "Today, somebody could raise billions of dollars for a new AI company [that's just] a few sketch ideas," the billionaire Microsoft co-founder tells CNBC Make It. Gates researched the AI industry for his upcoming Netflix docuseries "What's Next? But AI will be transformative enough as it grows for any new tech startup to consider how it can fit into that industry, Gates says. "I was lucky that my belief in software made me unique," says Gates, adding: "Just believing in AI, that's not very unique.
Persons: Bill Gates, he'd, Gates, Allen, that's Organizations: Microsoft, CNBC, Google, Nvidia, Netflix, CNN
Over the last year, a growing number of cinnamon products have been recalled in the U.S. due to high levels of lead. That prompted Consumer Reports to test brands such as Badia, McCormick and Morton & Bassett, along with smaller brands, across 17 mainstream and niche grocery stores. It found high levels of lead in 12 products, with levels reaching 3.5 parts per million. Paras cinnamon powder had the most lead, according to Consumer Reports, containing 3.52 ppm. The FDA has wound down some of its response efforts to its cinnamon applesauce investigation but will continue to monitor other products in stores for high lead levels.
Persons: Food and Drug Administration hasn’t, , Laurie Beyranevand, “ I’m, Morton, Bassett, Adam Keating, Keating, ” Beyranevand, there’s Organizations: Consumer, Food and Drug Administration, Center for Agriculture, Food Systems, Vermont Law, Graduate School, FDA, United Nations, Food, Agriculture Organization, Cleveland Clinic, Centers for Disease Control Locations: U.S, McCormick, New York
It's the practice of pasting job-post text in white font onto your résumé to outsmart applicant tracking systems. But experts warn it can be risky and hurt your credibility and chances if you're caught. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Known as "white-fonting," the résumé trick entails copying large chunks of text from a job description and pasting them on your résumé.
Persons: Organizations: Service
All legislation must also be passed by the Senate before it can be sent to President Joe Biden to be signed into law. It is unclear how many of the measures will make it that far given the limited number of days the Senate is in session for the rest of the year. But their success in the House could pave the way for even stronger regulatory moves in the next Congress, Singleton said. The Chinese companies, whose work includes cancer research and manufacturing for American drugmakers, say data privacy is not at risk and that the measure will limit competition. “We are disappointed that the U.S. legislative process is being used to pick winners and losers,” Shenzhen-based BGI Group said in a statement.
Persons: Joe Biden, Singleton, Organizations: Senate, Biotech, , WuXi AppTec, Hong Kong Lawmakers, Authorities, Hong, Foreign Ministry, U.S Locations: Beijing, ” Shenzhen, WuXi, Washington , New York, San Francisco, China, British, Hong Kong
CNN —India’s second nuclear-capable ballistic missile submarine joined its naval fleet late last month, a move the government says strengthens its nuclear deterrent as New Delhi casts a wary eye at both China and Pakistan. The de facto border between India and China, known as the Line of Actual Control, has been a longtime flashpoint between the two. India’s next ballistic missile subs could be years away, however, if history is any predictor of the future. Arighaat was launched almost seven years ago, and if that timeline from launch to commissioning applies to the next Indian ballistic missile sub, it won’t join the service until 2030. A type 094 Jin-class nuclear-capable ballistic missile submarine of the Chinese People's Liberation Army (PLA) Navy participates in a naval parade in 2019.
Persons: CNN —, Rajnath Singh, Janes, Arighaat, , Carl Schuster, Aksai, Matt Korda, ” Korda, won’t, SSBNs, Tom Shugart, ” Shugart, Jin, Kandlikar Venkatesh, Mark Schiefelbein, Venkatesh, It’s, Abhijit Singh, ” Singh, Korda, it’s, Organizations: CNN, People’s Liberation Army, Indian Defense, India’s Eastern Naval Command, Missile Defense Advocacy Alliance, Pacific Command’s Joint Intelligence Center, Troops, Naval, Nuclear, Federation of American Scientists, India’s, Center, New, New American Security, US, United Nations Security Council, US Navy’s, Navy, Global Times, People's Liberation Army, PLA, Getty, Observer Research, Hindustan Times, MIRV Locations: Delhi, China, Pakistan, India, Visakhapatnam, Bengal, United States, Bay, Aksai Chin, Beijing, New American, Russia, United Kingdom, France, Britain, Ohio, AFP, Mumbai, Islamabad, Kashmir, New Delhi
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