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☆ 5 of the top business schools enrolled fewer minorities in the year since affirmative action was overturned
▼ + stars: | 2024-11-27 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +4 min

Five of the most prestigious business schools in the US enrolled fewer underrepresented minority students this year, according to demographic data released since the Supreme Court overturned affirmative action last summer. Of those 15, six saw a notable increase in the number of underrepresented minority students represented in their matriculating 2024 classes, Bloomberg found. 7-ranked Wharton saw its share of underrepresented minorities dip 2% with this year's cohort, while No. MIT Sloan's share of underrepresented minority students in this year's entering class fell 5.7% from the Class of 2025's 14.2 minority makeup. AdvertisementFor example, Duke's Fuqua School of Business and UC Berkeley's Haas School of Business both reported an 8.2% increase in the share of underrepresented minorities enrolled this year.

Persons: —, Bloomberg, Wharton, Kellogg's, Kellogg, MIT Sloan's, Duke's Organizations: Bloomberg, Pacific Islander, Harvard Business School, The University, Pennsylvania's Wharton School, Stanford Graduate School of Business, Northwestern's Kellogg School of Management, MIT Sloan School of Management, Harvard, Kellogg School of Management, MIT, Duke's Fuqua School of Business, UC Berkeley's Haas School of Business

☆ Tesla and BYD are gearing up for another round in China's brutal EV battle
▼ + stars: | 2024-11-27 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

BYD is asking suppliers to cut prices and Tesla is rolling out more discounts. The price war is putting some smaller Chinese players under financial pressure. BYD and Tesla have been playing a game of how-low-can-you-go on EV prices in China for the past year, and they don't seem to be slowing down anytime soon. The rivals are asking suppliers to cut prices and rolling out discounts as they prepare for another round in an ongoing EV battle. Elon Musk's automaker kicked off China's EV price war last April, and is attempting to boost sales as it seeks to deliver a record number of cars this year.

Persons: Tesla, Li Yunfei, Aly, BYD, Elon Organizations: Bloomberg, Weibo, Tesla, REUTERS, Elon Musk's, Business Locations: China, Shanghai

☆ Microsoft faces wide-ranging U.S. antitrust probe
▼ + stars: | 2024-11-27 | by ( ) www.cnbc.com time to read: +3 min

The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft , including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday. The probe was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded complaints about Microsoft last year as it examined the cloud computing market. Until now, Microsoft has been somewhat of an exception to U.S. antitrust regulators' recent campaign against allegedly anticompetitive practices at Big Tech companies. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.

Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Republican, FTC, Amazon, Google, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services

That means buyers can combine existing tax credits with the deep discounts on offer over the next three months. Hours after Newsom announced his proposal Monday, Bloomberg News reported that his office planned to exclude Teslas from any state rebate program, citing an idea to limit the proposed aid based on automakers’ EV market shares. The current federal tax credit also applies to leases, and some dealerships are exploiting a loophole that allows EV lessees to qualify for the full $7,500 credit without meeting income or manufacturer requirements. In a recent Edmunds analysis of mid-priced vehicles leased this year, the average monthly payment for EVs when factoring in tax credits was $428, far lower than the $572 for vehicles with gas engines. “If the tax credit goes away and it’s a significant amount that’s being utilized by dealers, you’ll have them rather upset for a while,” Drury said.

Persons: Donald Trump, EVs, ”, Jay Turner, Gavin Newsom’s, Turner, Biden, “ We’re, ” Newsom, Trump, he’d, Karoline Leavitt, Ivan Drury, ” Drury, who’s, Drury, I’d, ” Turner, Elon Musk, Trump’s, Musk, Tesla, Newsom, “ It’s, you’re, ” Buyers Organizations: Wellesley College, Republican, White House, Trump, Cox Automotive, U.S, Congress, Trump White, “ Department, Government, Bloomberg News, ’ EV, NBC News, EV lessees, ” Locations: California, Colorado and Massachusetts, Edmunds, China, Mexico, Canada, U.S

Walmart on Monday confirmed that it’s ending some of its diversity initiatives, removing some LGBTQ-related merchandise from its website and winding down a nonprofit that funded programs for minorities. Walmart’s DEI changes were first reported by Bloomberg News. Among the changes, Walmart will no longer allow third-party sellers to sell some LGBTQ-themed items on Walmart’s website, including items marketed to transgender youth like chest binders, company spokeswoman Molly Blakeman said. It’s also moved away from using the term “diversity, equity and inclusion” or DEI in company documents, employee titles and employee resource groups. Walmart’s DEI changes were first reported by Bloomberg News.

Persons: Molson Coors, Bud, ” “ We’ve, Walmart’s, Molly Blakeman, George Floyd’s, It’s, Blakeman, Robby Starbuck, Starbuck Organizations: Walmart, U.S, Tractor Supply, Pride, Ford, Molson, Anheuser, Busch, Bud Light, Bloomberg News, Human Rights, for Racial Equity, Supply Locations: U.S ., America

☆ California proposes its own EV buyer credit — which could cut out Elon Musk's Tesla
▼ + stars: | 2024-11-26 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Gavin Newsom plans to revive California's EV rebate if Trump ends the federal tax credit. Tesla sales in California, the US's largest EV market, have recently declined even as overall EV sales in the state have grown. Elon Musk, who has expressed support for ending the federal tax credit, said in an X post it was "insane" for the California proposal exclude Tesla. The federal electric vehicle tax credit, which was passed as part of the Biden administration's Inflation Reduction Act in 2022, provides a $7,500 tax credit to some EV buyers. The Tesla CEO said on an earnings call in July that ending the federal tax credit might actually benefit the company.

Persons: Gavin Newsom, Tesla, Elon Musk, Donald Trump, Newsom, Trump, He's, Musk, Graham Rapier, — Organizations: Trump, California Gov, Trump Administration, Reduction Fund, Bloomberg News, Business, Car Dealers, EV, Hyundai, BMW, Biden, Department of Government Locations: California, Trump's

☆ Walmart pulls back on DEI efforts, removes some LBGTQ merchandise from website
▼ + stars: | 2024-11-26 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Walmart on Monday confirmed that it's ending some of its diversity initiatives, removing some LGBTQ-related merchandise from its website and winding down a nonprofit that funded programs for minorities. Those companies include Tractor Supply , which said in June it was eliminating DEI roles and stopping sponsorship of Pride festivals. Among the changes, Walmart will no longer allow third-party sellers to sell some LGBTQ-themed items on Walmart's website, including items marketed to transgender youth like chest binders, company spokeswoman Molly Blakeman said. It's also moved away from using the term "diversity, equity and inclusion" or DEI in company documents, employee titles and employee resource groups. Walmart's DEI changes were first reported by Bloomberg News.

Persons: Molson Coors, Bud, Molly Blakeman, George Floyd's, It's, Blakeman, Robby Starbuck, Starbuck, Walmart's Organizations: Walmart, U.S, Tractor Supply, Pride, Ford, Molson, Anheuser, Busch, Bud Light, Human Rights, for Racial Equity, Supply, Bloomberg News Locations: U.S ., America

☆ The Fed might not cut interest rates at all in 2025, Deutsche Bank economist says
▼ + stars: | 2024-11-26 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe Fed will pause interest rate cuts through all of 2025, Deutsche Bank's chief US economist says. A strong economy and the inflationary impact of Trump's policies will offset the need for rate cuts, Matthew Luzzetti said. The Federal Reserve's easing cycle is closer to stalling than starting, at least according to Deutsche Bank. Chief US economist Matthew Luzzetti expects the central bank to pause interest rate cuts after a final quarter-point reduction in December. First, the US economy doesn't appear headed for an imminent slowdown, which dials back pressure on the Fed to prop up growth by lowering interest rates.

Persons: Matthew Luzzetti, Goldman, Luzzetti, Donald Trump, Goldman Sachs Organizations: Deutsche, Deutsche Bank . Chief, Bloomberg, Fed, Luzzetti, Citi Locations: China, Mexico, Canada

☆ What could get more expensive if Trump launches a new trade war with Mexico and Canada
▼ + stars: | 2024-11-26 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

While leaders of the two nations continue to butt heads, US consumers have paid the price, shelling out more money on goods imported from China. Now Trump is focusing his attention on America’s largest and third-largest trading partners: Mexico and Canada. The 25% tariff Trump floated would have “huge impacts” on gas prices, amounting to an increase between 25 cents to 75 cents per gallon, he said. Said differently, your guac and avocado toast could skyrocket if 25% tariffs are levied on Mexico. Bottom line: It’s going to hurtThe new round of tariffs Trump is prepared to impose comes as the US has grown increasingly reliant on imports from Mexico and Canada.

Persons: Donald Trump’s, Trump, Joe Biden, Brace, Todd Korol, ” Patrick De Haan, Ulises Ruiz, Said, Maurico Palos, tariffs Trump, That’s Organizations: New, New York CNN, Trump, Gas, US Energy Information Administration, Rockies, Produce, Commerce Department, AFP, Getty, United, United Nations ’, General Motors, Ford, General Motors Co, Silao, Bloomberg Locations: New York, America, China, Mexico, Canada, West Coast, Kindersley , Saskatchewan, Great Lakes, Midwest, United States, Cerritos, Ciudad Guzman, Jalisco, Silao, Guanajuato

☆ Why green investments have become the last line of defense for Biden’s climate agenda
▼ + stars: | 2024-11-26 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +20 min

CNN —Can the green shoots of clean energy break through the “brown blockade”? Those huge current and planned investments in new manufacturing plants may represent the sole opportunity to preserve any elements of Biden’s blueprint for growing the domestic clean energy industry. Republican districts are slated to receive an equally large share of another $435 billion in clean energy projects that have been announced but not yet built, the analysis found. The US reliance on the fossil fuels driving climate change has been declining for years, but only at a modest pace. Yet interrupting that transition by repealing the federal policies benefiting clean energy remains a dangerous gamble.

Persons: Donald Trump, Trump, Joe Biden’s, Biden –, ”, Lori Lodes, ‘, I’ve, Trump’s, Tammy Baldwin, John Fetterman, Kamala Harris, Chris Wright, ’, Lee Zeldin, Elizabeth Conley, “, Jason Walsh, ” Lodes, Robert McNally, George W, Bush, McNally, Walsh, ” Walsh, Joseph Shapiro, Shapiro, EVs, Ben King, King, ” King, ” Shapiro Organizations: CNN, GOP, Republican, Climate Power, Trump, federal Energy Information Administration, Senate, Electoral College, Energy Information Administration, Democratic, Biden, ExxonMobil, Environmental Protection Agency, “, Massachusetts Institute of Technology, Rosendin, Houston Chronicle, Power, BlueGreen Alliance, Republicans, Hyundai, Bloomberg, Getty, University of California Locations: America, United States, Wyoming , Louisiana, North Dakota, West Virginia, Alaska , Montana , Oklahoma, Texas, Iowa, Nebraska, Kansas, Ohio, Indiana , Michigan, Wisconsin, Massachusetts, New York, Virginia, Maryland, Washington , Oregon, California, West Virginia , Montana and Ohio, Pennsylvania, New Mexico, Michigan, – Michigan, Washington, Liverpool , Texas, Georgia, Ellabell , Georgia, Berkeley

☆ Omead Afshar, a longtime Elon Musk loyalist, takes the wheel at Tesla
▼ + stars: | 2024-11-26 | by ( Grace Kay | Katherine Long | ) www.businessinsider.com time to read: +10 min

As Musk increasingly turns his attention to politics, Afshar is set to help shepherd Tesla through this volatility. AdvertisementOver the seven years he has spent working for Musk, Afshar has emerged as one of the billionaire's most loyal lieutenants, driven and singularly focused on his goals. Years before Tesla, Afshar studied biomedical engineering at the University of California, Irvine, and worked as a ski instructor. At Tesla and other Musk companies, he said, "the mission is good, and what we're trying to do is right." AdvertisementThe four current and former colleagues said Afshar became lower profile at Tesla in 2022 but continued to work closely with Musk.

Persons: Omead Afshar, Afshar, Elon Musk, Musk, Tesla, Donald Trump, Aly Song, Seth Sharp, Drew Baglino, Rebecca Tinucci, Tom Zhu, Zhu, Elon, Sharp, Omead, Behrad Vahidi, Tesla's, Suzanne Cordeiro, Jared Birchall, Walter Isaacson Organizations: North, Reuters, Tesla, University of California, Bloomberg, Street Journal, of Justice, Securities and Exchange Commission, SEC, DOJ, SpaceX, Financial Times, Twitter Locations: Austin, Germany, North America, Europe, China, Elon, Irvine, Westlake, Los Angeles, San Francisco, Texas, Austin , Texas, Shanghai

☆ Chinese fast fashion may be in the line of fire in a second Trump term. Here's what Trump's tariffs could mean for Shein and Temu.
▼ + stars: | 2024-11-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

AdvertisementTrump's second term may not bode well for Chinese fast-fashion brands in the US. Gen Z-favorite brands like Shein and Temu will likely be hit hard by such tariffs. Donald Trump's victory in the presidential election could spell trouble for Chinese fast-fashion brands, particularly Gen Z-favorite budget brands like Shein and Temu. While campaigning this year, Trump said he would impose tariffs of 60% or higher taxes on Chinese products. AdvertisementAnd while Shein has become synonymous with fast fashion produced in China, it's facing rising competition from Temu.

Persons: bode, Gen, Temu, Donald Trump's, Trump, Liu Pengyu, PDD, David Jacks, Jacks, Lei Chen, PDD's, Jeffrey Towson, Emily Pfeiffer, Forrester, Pfeiffer, Jacob Cooke, Vox, Shein, Biden Organizations: National Retail Federation, Singapore's Yale, NUS College, TechMoat Consulting, Towson, Amazon, Bloomberg Locations: China, Bangladesh, Morocco, Temu

☆ Black Friday is almost here but some sales aren't all they are cracked up to be: Here's what not to buy
▼ + stars: | 2024-11-26 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

Shoppers walk along 5th Avenue on Black Friday in New York, US, on Friday, Nov. 25, 2022. Bloomberg | Bloomberg | Getty ImagesRetailers hype Black Friday sales, and it works. According to WalletHub's 2024 Best Things to Buy on Black Friday report, 41% of items at major retailers offer no savings compared with their pre-Black Friday prices. What not to buy on Black FridayTypically, Black Friday is a great time to find rock-bottom prices on fall clothing — including flannels, denim, coats and accessories — as well as televisions and consumer electronics. In-store Black Friday spending is expected to grow by 7.3 per cent in the UK this year.

Persons: Andrea Woroch, PIRG, Etsy, Adam Davis, Davis, Lauren Beitelspacher, Lululemon, Woroch, Leon Neal Organizations: Bloomberg, Getty, National, Wells, Wells Fargo Retail Finance, Finance, Babson College, Nike, Day, Labor, Oxford Circus Locations: New York, R.J, Wells Fargo, Oxford

☆ Billionaire Jersey Mike's CEO still gets behind the counter to slice deli meat like he did at age 14: I do it 'every time I’m in a store'
▼ + stars: | 2024-11-26 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Five decades ago, Peter Cancro was your average 14-year-old wrapping sandwiches after school at his local eatery, Mike's Subs. Today, he's the billionaire CEO of Jersey Mike's Subs — but he still gets his hands dirty every now and then. At age 17, the New Jersey native had worked at Mike's Subs for a few years when he discovered the owner was looking to sell. He still slices deli meats and gets face-time with employees "every time I'm in a store," he said at the conference. The ability to be personable is a green-flag trait that good bosses tend to share, workplace culture expert Bonnie Low-Kramen told CNBC Make It last year.

Persons: Peter Cancro, Cancro, Peter, Rod Smith, Bonnie Low, Kramen, It's Organizations: Subs, Blackstone, Jersey, Conference, Bloomberg, CNBC, Workers, Gallup Locations: Jersey, U.S, New York, Jersey Shore, New Jersey

U.S. President-elect Donald Trump at a viewing of a test-flight launch of the SpaceX Starship rocket in Brownsville, Texas, Nov. 19, 2024. Brandon Bell | Getty Images News | Getty ImagesAs Inauguration Day nears, investors are trying to unravel what booms or busts lay ahead under President-elect Donald Trump. Yet the energy sector climbed 22.9% under Biden as of Nov. 19, despite the administration's push for renewables and sustainability. As president, Trump is expected to embrace crypto more than any of his predecessors. When Biden won in 2020, there was a lot of panic about the outlook for energy, oil and gas.

Persons: Donald Trump, Brandon Bell, Jeremy Goldberg, Goldberg, Larry Adam, Raymond James, Trump, Adam, Biden, Monty Rakusen, John Murphy, Murphy, Callie Cox, Cox, Greg Iacurci Banks, Jamie Dimon, Andrew Harrer, Brian Spinelli, Halbert Hargrove, Spinelli, David Rea, Lorie Konish, Bill Varie, —, — Greg Iacurci Crypto, Kevin Wurm, Matt Apkarian, Apkarian, Christina Lynn, there's, Lynn, — Lorie Konish, Cooper Neill, Joe Biden, Mike Cerasoli, Cerasoli, you'll, — Lorie, Images Trump, Robert F, Kennedy Jr, bode, David Weinstein, Weinstein, Chris Unger, Charles, Vivek Ramaswamy, Greg Iacurci, Thomas Barwick, Ted Decker, Decker, TJ Maxx, Lorraine Hutchinson, — Greg Iacurci, Donald J Organizations: SpaceX, Getty, Trump, Professional Advisory Services, Digitalvision, EV, Biden, Bank of America Securities, Ford, Ritholtz Wealth Management, U.S . Federal, JPMorgan Chase &, White, Bloomberg, CNBC, Salem Investment, Bank, — Greg Iacurci Crypto Republican, Reuters, bitcoin, Liberty Financial, Cerulli Associates, Mariner Wealth, — Lorie Konish Energy, Double Eagle Energy Holdings LLC, Eagle Global Advisors, Images, Department of Health, Human Services, RFK, U.S . Senate, Merck, Pfizer, Dana Investment, Affordable, Publicly, HCA Healthcare, UFC, Madison, Garden, Ufc, Medical, Charles River Laboratories, Food and Drug Administration, of Government, Retailers, Walmart, Marshalls, Google, Twitter, Trump National Golf Club, Washington Post Locations: Brownsville , Texas, California, U.S, Iran, Venezuela, Washington, Long Beach, Calif, Salem, Winston, Salem , North Carolina, Ritholtz, Nashville , Tennessee, cryptocurrency, Lynn, Midland , Texas, Houston, New York, China, North America, HomeGoods, Bedminster , NJ, Jabin

☆ Intel awarded $7.9 billion from the CHIPS Act ahead of Trump's second term
▼ + stars: | 2024-11-26 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

The US Department of Commerce announced the grant, part of the CHIPS Act, on Tuesday. President-elect Donald Trump has criticized the CHIPS Act in favor of tariffs. Intel is receiving about $7.9 billion in federal grants, the US Department of Commerce said Tuesday, as the Biden administration finalizes CHIPS Act agreements ahead of Donald Trump taking office. President-elect Trump has previously criticized the CHIPS Act and suggested he would prefer tariffs to incentivize semiconductor manufacturing on US soil. The CHIPS Act cash will help Intel boost its semiconductor production in the US.

Persons: Biden, Donald Trump, Joe Biden's, Trump, Gina Raimondo, Pat Gelsinger Organizations: Intel, US Department of Commerce, Department of Commerce, New York Times, Bloomberg, Street, Qualcomm Locations: Arizona , New Mexico , Ohio, Oregon

☆ The Art of the Tariff: Trump's latest threat is right out of his negotiating playbook
▼ + stars: | 2024-11-26 | by ( Alice Tecotzky | ) www.businessinsider.com time to read: +5 min

AdvertisementDuring his first term, Trump threatened tariffs while renegotiating trade with Mexico and Canada. Scott Bessent, Trump's pick for Treasury secretary, has called tariffs a "negotiating tool." In June of 2019, Trump threatened tariffs against Mexico if the country didn't alter its immigration system, which it eventually did. While financial analysts are taking Trump's threats seriously, some banking leaders seem to think that Trump's most recent tariff threat is a continuation of his prior negotiation tactic. Advertisement"This is President Trump's negotiating style: step one, punch in the face, step two, let's negotiate," Kieran Calder, the head of equity research for Asia at Union Bancaire Privée, said, according to Bloomberg.

Persons: Trump, Scott Bessent, Donald Trump, Robert Lawrence, Lawrence, Mark Blyth, Blyth, He's, he's, Trump's, Kieran Calder, Union Bancaire Privée, — Trump, Luis Costa Organizations: Biden, Peterson Institute for International Economics, European Union, American Free Trade, Brown University, White, Brookings Institute, NAFTA, Union Bancaire, Bloomberg, UBS, Citi Bank, Trump Locations: Mexico, Canada, Asia, China

☆ Insana: Why Wall Street’s rally after Trump’s Treasury pick may be unjustified
▼ + stars: | 2024-11-26 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

Wall Street's celebration of President-elect Donald Trump's Treasury pick may be a tad premature. The market's resurgence following the Bessent announcement makes for calming copy, but is it the correct assessment of what's to come? It's true that Wall Street veteran Bessent has been a successful money manager. However, Bessent suggested that he is comfortable using tariffs as negotiations to " escalate to de-escalate " the risks of global trade imbalances. But little of what's been discussed about the Treasury Secretary pick supports the rather large rallies we've seen in both stocks and bond prices.

Persons: Donald Trump's, Scott Bessent, Bessent, Trump, We'll, what's, we've, –, Ron Insana Organizations: Donald Trump's Treasury, Dow Jones Industrial, Wall, Bloomberg News, U.S, Trump, Biden, CNBC Locations: China, Mexico, Canada, U.S, Ukraine

☆ CrowdStrike's post-earnings stock drop is a buy. Here's why sellers have it all wrong
▼ + stars: | 2024-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Annual recurring revenue jumped 27% to $4.02 billion, also ahead of the $4.01 billion estimate, according to FactSet. The team also called out the positive uptake of the Falcon Flex model announced last year at Fal.Con 2023. … Flex customers, on average have adopted more than nine modules, and we expect to see these numbers continue to rise faster." It's clear to us that the CrowdStrike Falcon platform is resonating with customers new and old. Non-GAAP operating income between $804.4 million and $809.4 million, also well ahead of the $781 million estimate.

Persons: CrowdStrike, FactSet, Jim Cramer's, George Kurtz, Kurtz, Falcon, " Kurtz, We've, …, That's, Jim Cramer, Jim, Michael Nagle Organizations: LSEG, Falcon, Flex, … Flex, Palo Alto Networks, TAM, CNBC, CrowdStrike, New York Stock Exchange, Bloomberg, Getty Locations: cybersecurity

☆ Eli Lilly shares jump on two big updates and Jim Cramer is so here for it
▼ + stars: | 2024-11-26 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +9 min

Eli Lilly shares soared Tuesday on a one-two punch of good news. The second positive development for Eli Lilly comes from Amgen , which reported mid-stage trial results for its experimental obesity treatment known as MariTide. Big picture The prospect of across-the-board coverage of obesity drugs for Medicare and Medicaid enrollees would be a financial win for Eli Lilly, particularly on the Medicare front. For its part, Eli Lilly has said regulators could expand Zepbound's label to cover obstructive sleep apnea by year-end. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.

Persons: Eli Lilly, Jim Cramer, Biden, Lilly, didn't, Wegovy, Zepbound, Biden administration's, Donald Trump, Wells, Robert F, Kennedy Jr, Trump, Kennedy —, Kennedy, Novo, Leerink, Eli Lilly's tirzepatide, Piper Sandler, tirzepatide, Piper, Jim, Amgen's, retatrutide, Jim Cramer's, Shelby Knowles Organizations: Novo Nordisk, Medicaid, NBC News, White, Medicare, Centers, Services, STOP, Alliance, Wells Fargo, of Health, Human Services, Food and Drug Administration, Senate, Biden, Club, CNBC, Bloomberg, Getty Locations: New York, Texas, Amgen, Lilly, Brooklyn

☆ We knew Best Buy's quarter and guide would be weak. Here's our plan for the stock
▼ + stars: | 2024-11-26 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

BBY YTD mountain Best Buy YTD These were not the results we wanted from Best Buy, but they are the numbers we had expected. Best Buy stock below $80 would push the dividend yield up to just under 5% — a nice payout for our patience. We still believe in the stock because Best Buy should benefit once mortgages drop and housing turnover picks up. Best Buy Why we own : We believe Best Buy will prove to be a go-to destination for consumers looking to upgrade hardware, much of which was purchased during Covid, to new AI-powered devices. In the Best Buy app, the company also launched the "Best Buy Gift Finder," an AI-powered gifting guide to help consumers find new products.

Persons: Jim Cramer, it's, Donald Trump, Jim, Corie Barry, Barry, Matthew Bilunas, Jim Cramer's, David Paul Morris Organizations: Revenue, LSEG, Target, Walmart, Amazon, Costco, Enterprise, Black, Microsoft, Meta, Management, CNBC, Bloomberg, Getty Locations: Tuesday's, Union City , California

☆ ‘If you mark it down, they will come.’ What to expect from retailers this holiday season
▼ + stars: | 2024-11-26 | by ( Alicia Wallace | ) edition.cnn.com time to read: +11 min

While economists say this holiday shopping season could ultimately be the most normal one (sales-wise) since before the pandemic, it’s also decked out with plenty of uncertainty. While it would set a new record as well (keep in mind, those figures aren’t adjusted for inflation), this holiday season might be a little more muted than last. A shortened holiday seasonA short shopping season, however, may force the hands of retailers who are looking to hold back on deep promotions. This year, there are 26 days between Thanksgiving and Christmas, marking the shortest holiday shopping season possible. Courtesy Dan MarshallMarshall remains quite optimistic that Mischief will enjoy yet another strong Black Friday, Small Business Saturday and, ultimately, holiday season.

Persons: It’s, it’s, ”, Neil Saunders, “ it’s, Frederic J . Brown, TJ Maxx, Scrooge ‘, Saunders, ” Franklin Bracken, Locker, Bing Guan, ” Bracken, Jeffrey Davidson, “, ” Davidson, Shannon Grein, “ It’s, Seth Wenig, TransUnion, Charlie Wise, TransUnion’s, Wise, Brendan McDermid, Dan Marshall, Marshall, Dan Marshall Marshall, “ We’re, —, they’ll Organizations: CNN, B Department, Jersey Shore, National Retail Federation, GlobalData, Getty, Walmart, Target, Goldman, Global Retailing Conference, Bloomberg, Black, University of Michigan, Reuters, November’s University of Michigan, University of Locations: Jersey, Las Vegas , Nevada, AFP, New York, New Jersey, Wells Fargo, Ramsey , New Jersey, Wells, New York City, Oxford, St, Paul , Minnesota

☆ Databricks closes in on multibillion funding round at $55 billion valuation to help employees cash out
▼ + stars: | 2024-11-26 | by ( Kate Rooney | ) www.cnbc.com time to read: +3 min

San Francisco-based Databricks is raising at least another $5 billion in its latest funding round — though it could raise up to $8 billion given the round is ongoing — according to several sources who asked not to be named because the discussions were private. The latest raise would value the company at $55 billion and could top the largest round of the year by OpenAI. The latest funding is designed to help Databricks employees sell shares, a source said. One source said the funding round makes Databricks' highly anticipated public debut less urgent. This summer, it acquired MosaicML, a $1.3 billion software startup that focuses on large language models that can churn out natural-sounding text.

Persons: Ali Ghodsi, Databricks, OpenAI, Andreessen Horowitz, Baillie Gifford, Snowflake, Ghodsi Organizations: Databricks Inc, Bloomberg Technology, CNBC, OpenAI, Walgreens, Nvidia, Capital, Fidelity, Insight Partners, Tiger Global Locations: San Francisco

☆ CNBC Daily Open: Investors really like Trump’s Treasury secretary pick
▼ + stars: | 2024-11-26 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Stefani Reynolds | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This time, it's revved up by Trump's Treasury secretary pick — Scott Bessent. "I would recommend that tariffs be layered in gradually," Bessent told CNBC earlier this month before his nomination. Small-cap stocks performed even better, probably because Bessent has expressed support for Trump's economic agenda, which would benefit smaller, domestically oriented companies.

Persons: SPX, Scott Bessent, Stefani Reynolds, it's, — Scott Bessent, Bessent, —, Russell, Quincy Krosby, Alex Harring, Hakyung Kim Organizations: Key, Bloomberg, Getty, CNBC, Group, Trump, Dow Jones, Nasdaq, Treasury, LPL Locations: Washington , DC, U.S

☆ Warren Buffett just shared his most detailed plan yet for his fortune when he dies
▼ + stars: | 2024-11-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +10 min

Courtesy of Susie Buffett Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris. Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Daniel Acker/Bloomberg/Getty Images Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.

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