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Bank of America sees more room to run for CyberArk shares after a strong earnings report. Analyst Madeline Brooks hiked her price target by $20 to $335, which now suggests 27.1% upside from Thursday's close. Brooks also maintained her buy rating on the cybersecurity stock. As "a diamond in the rough, CyberArk keeps shining bright," Brooks told clients in a Thursday note. "We see several drivers that should continue to support growth," Brooks said.
Persons: Madeline Brooks, Brooks, CyberArk, CrowdStrike Organizations: of America, CrowdStrike
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. So what do such wild swings mean for folks who stress about what the stock-market ups and downs mean for their investments? Advertisement"In fact, it's what we all sign up for when investing in the stock market," he said, adding that, on average, the stock market loses money once every four years and that you could even expect swings of more than 14%. He added: "Selling is literally the only way that you can turn a temporary decline into a permanent loss."
Persons: , Dow, Gideon Drucker, Aswath Damodaran, Drucker Organizations: Service, Nasdaq, Business, Drucker Wealth, New York University
Read previewHarry Lightfoot, 25, is the UK's Fittest Man for 2024 and is set to compete at this year's CrossFit Games, which kick-off on Thursday. Lightfoot only started CrossFit at the age of 18 because he thought it would help his rugby career. After finishing first in his country's CrossFit semi-finals, he earned the title of UK's Fittest Man for 2024. "We all come together and we do the same thing, which is really, really cool. Harry Lightfoot does a range of activities as part of his CrossFit training.
Persons: , Harry Lightfoot, Lightfoot, he's, aren't, He's Organizations: Service, Business, CrossFit Locations: carbs
That experience with a cloud migration project Sadhwani worked on during her first internship helped her land her first job as a DevOps engineer at Brightspot. After gaining experience in the field for a year and a half, she landed a cloud engineer role at Amazon Web Services (AWS), which she described as a "pivotal moment" in her career. After two years at AWS, a Google Cloud recruiter contacted Sadhwani, who then embarked on its comprehensive interview process. Define your goals and personal brandThe Big Tech job market is competitive, and building a personal brand is important. For Sadhwani, exploring Google Cloud led her to find the perfect role.
Persons: , Sadhwani, She'd, she's Organizations: Service, University of Maryland, Business, Amazon Web Services, Google, Big Tech
New York CNN —Paramount Global, the storied media conglomerate, announced Thursday it will lay off 15% of its US staff and write down $6 billion in value of its cable television networks as it prepares to merge with Skydance Media. Discovery, the parent company of CNN, TNT, HGTV and other cable networks, posted a $9.1 billion write down on its television business. “And this impairment acknowledges this.”The recent turbulence in the media business extends well beyond the traditional television industry, affecting digital news outlets and print publications. As profits in the television business have eroded away, Paramount has been hit particularly hard. Paramount said its streaming service Paramount+ posted a $26 million profit after losing $424 million during the same period last year and said it expects subscriber growth in the second half of the year.
Persons: David Ellison’s SkyDance, Chris McCarthy, , , David Zaslav, Axios, Jim VandeHei Organizations: New, New York CNN, Paramount Global, Skydance Media, Paramount, Warner Bros, CNN, TNT, HGTV, Broadcasting, Cable, Nickelodeon, Comedy Central, MTV, Discovery, HBO, Max Locations: New York
Aerospace veteran Robert “Kelly” Ortberg becomes Boeing’s new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon. Boeing's new CEO, Robert "Kelly" Ortberg. Ortberg’s Day 1 activity is walking the floor of Boeing’s factory in Renton, Washington, where it builds its bestselling but problematic 737 Max. The airline’s CEO hinted at the big feat Ortberg has ahead of him. “We look forward to working with Kelly Ortberg in his efforts to return Boeing to its place as the leading American aerospace company,” CEO Bob Jordan said in a written statement.
Persons: Robert “ Kelly ” Ortberg, Robert " Kelly, Ortberg, , Rockwell Collins, Richard Aboulafia, ” Ortberg, Boeing’s, Butch Wilmore, Suni Williams, Ron Epstein, , isn’t, ” Jon Holden, Dave Calhoun, Calhoun, Dennis Muilenburg, Max, Chicago —, Kelly Ortberg, Bob Jordan, , Michael Sheetz Organizations: Boeing, AFP, Getty, Ortberg’s, National Transportation, Air Force One, NASA, SpaceX, International Space, Airbus, Bank of America, International Association of Machinists, Aerospace Workers, Arlington , Virginia —, , Southwest Airlines Locations: U.S, Renton , Washington, Portland , Oregon, , Washington state, Oregon, Arlington , Virginia, Chicago, Seattle, American
Paramount Global is cutting 15% of its U.S. workforce, or about 2,000 jobs, part of a broader cost-cutting plan as it prepares for a merger with Skydance Media. Paramount has identified $500 million in cost savings, which include the head count reductions, as part of $2 billion in synergies related to its transaction with Skydance. Paramount agreed to a merger with Skydance Media last month. Meanwhile, earnings surged as the company's streaming division swung to an unexpected profit — the first time Paramount has announced a profitable quarter for its direct-to-consumer business. Here's how Paramount performed in the quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Persons: Organizations: Paramount, Skydance Media, LSEG
Shares of Eli Lilly closed more than 9% higher on Thursday. That has forced Eli Lilly and its rival Novo Nordisk to invest heavily to boost manufacturing. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC in an interview. Eli Lilly said sales were largely driven by higher demand for Mounjaro and Zepbound as production increases improved supply in the U.S. With a market cap of more than $730 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.
Persons: Eli Lilly, Eli Lilly's, we're, David Ricks, Ricks, Zepbound, Mounjaro, Wegovy Organizations: U.S, Novo Nordisk, Food, CNBC, LSEG Locations: U.S, United States, Novo
Alex Karp, CEO of Palantir Technologies, walks to the morning session at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, on July 10, 2024. Palantir shares closed up 11% on Thursday after the company announced a partnership with Microsoft to sell secure cloud, analytics and artificial intelligence capabilities to the U.S. defense and intelligence communities. Palantir reported earnings earlier in the week, raising its annual revenue forecast to between $2.74 billion and $2.75 billion, from $2.68 billion to $2.69 billion. Microsoft said the partnership would allow U.S. defense and intelligence organizations to build AI tools for action plans and logistics, among other things. Palantir, co-founded by billionaire Peter Thiel, will work with Microsoft to provide trial services and training sessions.
Persons: Alex Karp, Peter Thiel, Palantir Organizations: Palantir Technologies, Allen, Co . Media, Technology Conference, Microsoft, Foundry, Apollo, AIP, intel Locations: Sun Valley , Idaho, Gotham
Discovery CEO David Zaslav needs a win. Since merging Discovery with WarnerMedia in 2022 and immediately slashing billions in costs, Zaslav has struggled to convince shareholders that his company is a worthy investment. Warner Bros. Discovery shares have fallen about 70% since April 8, 2022, the day the merger closed. Making matters worse for him, Zaslav has long been one of the highest paid CEOs in the country.
Persons: David Zaslav, Zaslav, Chris Licht, John Malone, That's, WarnerMedia, Robert Fishman Organizations: Warner Bros, Discovery, CNN, Boston, NBA, Warner Bros . Discovery Locations: U.S
Lilly's shares are up more than 7% on the news. LLY YTD mountain Eli Lilly shares year to date. The first followed positive reports from rivals that showed they were making progress in developing their own weight loss drugs . However, sales rose 59% for Mounjaro quarter over quarter and were up 140% for Zepbound as Lilly saw better pricing. Meanwhile, analysts see several events on the horizon that could further boost Lilly's shares in coming months.
Persons: Eli Lilly, Bansal, Lilly, Carter Gould, Lilly's headwinds, Novo's, Wells Fargo's Bansal, Evan David Seigerman, Chris Schott, Schott, Lilly's Organizations: Novo Nordisk, Wells, Barclays, Nordisk, BMO Capital Markets, Food and Drug Administration Locations: Wells Fargo, Lilly's, Wednesday's
Eli Lilly on Thursday reported a home-run quarter fueled by sales of its blockbuster obesity and diabetes drugs, quieting any lingering investor concerns in the stock. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. The report left little doubt that Eli Lilly's best days are ahead, driven by the growth of GLP-1s. It's really early" for Zepbound, Eli Lilly CEO David Ricks said in a CNBC interview Thursday. But the good news is Eli Lilly's multibillion dollar investments to expand manufacturing capacity are paying off.
Persons: Eli Lilly, Eli Lilly's, Zepbound, Jim Cramer, Lilly, David Ricks, It's, We're, Eli Lilly hasn't, Novo, spooked Lilly, Gordon Brooks, it's, Ricks, Brooks, Verzenio, , didn't, Jim Cramer's, Jim, George Frey Organizations: Revenue, LSEG, Novo Nordisk, Biogen, Merck, Pfizer, CNBC, Food and Drug Administration, Viking Therapeutics, Novo Nordisk —, FDA, RTP, Bloomberg, Getty Locations: Eisai, U.S, GLP, Roche, it's, Indianapolis, North Carolina, Europe, Germany, Provo , Utah
He recently made a video about five things candidates should lie about during interviews. Lalgee told Business Insider he didn't advocate for lying about skills or experience. If a candidate feels compelled to be honest about a negative experience, Lalgee told BI, they could say it wasn't a match or a culture fit. But when recruiters or hiring managers ask this, they're looking for you to talk about your future at the company, Lalgee said. AdvertisementCandidates should give a $20,000 to $30,000 range of what they're looking for, Lalgee said.
Persons: , Joel Lalgee, Lalgee, shouldn't, he'd Organizations: Service, Business
The company's sales soared to $324.5 million in its fiscal first quarter, leading it to raise its full-year guidance. He added that its Bronzing Drops serum quickly became a best seller on the company's website after its launch during the quarter. Following quarter after quarter of outsized growth, Wall Street has come to expect a lot from E.l.f. The company now anticipates its adjusted net income will be between $198 million and $201 million, compared with a previous outlook of between $187 million and $191 million. During the quarter, selling, general and administrative expenses increased by roughly $88.6 million to $180.6 million, representing 56% of net sales.
Persons: Tarang Amin, E.l.f, Mandy Fields, Fields, I'm, we're, Amin, we've, Gen Z, We'll, Gabby Douglas, Anastasia, Tas, Jameela Jamil Organizations: CNBC, LSEG, Alpha Locations: E.l.f
Read previewDavid Houde feels like he's made it — and he thinks it wouldn't have been possible without his college degree. By 2006, he'd earned an associate degree in computer information systems and a bachelor's degree in computer science. A college degree helped him eventually land a high salaryWhen he first enrolled in college, Houde didn't have any idea what he would major in. In 2016, about a decade after he graduated with his bachelor's degree, he decided to pursue an MBA. Have you found financial success without a college degree?
Persons: , David Houde, he's, it's, Houde, he'd, wasn't, I'm, hasn't Organizations: Service, Business, Pew Research Locations: Michigan, eureka
15 November 2023, Bavaria, Munich: Flags with the word "Siemens" in front of the company's headquarters. Comparable orders meanwhile declined 15% from the same quarter a year ago, hitting 19.8 billion, Siemens said. Siemens CEO Roland Busch told CNBC on Thursday that the company's performance during the quarter was "very, very strong." The company attributed its growth in the third quarter to strong demand in its electrification and industrial software businesses, but noted the automation business remained "challenging." There was an "exceptionally high order growth in the software business driven by a number of large contract wins for licensed software," the company said, with profitability growth more than offsetting a profit decline in automation.
Persons: Karl, Josef Hildenbrand, Roland Busch Organizations: Siemens, Getty Images, CNBC, Smart Infrastructure Locations: Bavaria, Munich, London
Under Armour apparel is displayed at a Dick's Sporting Goods store on May 16, 2024 in Petaluma, California. Under Armour on Thursday said sales are falling across its business, but the athletic apparel retailer posted better fiscal first-quarter results than feared, sending its stock surging in early trading. Under Armour previously expected full-year earnings of 2 cents to 5 cents per share, and adjusted earnings between 18 cents and 21 cents per share. The athletic apparel company is in the midst of a broad restructuring plan as it fights to regain relevance, reverse a sales slump and boost profits. Apparel revenue fell 8%, footwear sales dropped 15% and accessories revenue slid 5%.
Persons: Armour, It's, Stephanie Linnartz, Kevin Plank, Plank, Eric Liedtke, Eric, , William Blair, Armour's Organizations: Sporting Goods, LSEG, Marriott, Armour's, Apparel, Adidas, UA Locations: Petaluma , California, North America
On Thursday, investors in Asia will assess trade data from Japan and interest rate decision from the Reserve Bank of India. Global equities and currencies plunged earlier this week after the Bank of Japan hiked interest rates to their highest levels since 2008, and the U.S. released weaker-than-expected employment numbers. Asia-Pacific markets were mostly down in choppy trading on Thursday after U.S. stock benchmarks fell overnight, while investors assessed trade data from Japan and awaited India's rate decision. "Assuming that the price stability target will be achieved in the second half of fiscal 2025, the Bank should raise the policy interest rate to the level of the neutral interest rate toward that time," the summary read. Japanese technology investor SoftBank Group said in a statement on Wednesday that it would buy back up to 500 billion yen ($3.4 billion) of its shares as part of its efforts to boost shareholder returns.
Persons: Shinichi Uchida, Lasertec, Korea's Kospi Organizations: Reuters, The Reserve Bank of, Reserve Bank of India, Global, Bank of Japan, Dow Jones, Nasdaq, Nvidia, Nikkei, Bank, SoftBank, Semiconductor, Isuzu Motors, China's CSI, Cathay, Hong Kong's, Airbus Locations: The Reserve Bank of India, Asia, Japan, U.S, Pacific, Hong, Cathay Pacific
Restaurant Brands International on Thursday reported quarterly revenue that beat analysts' expectations, fueled by better-than-expected sales at Tim Hortons and the company's international restaurants. Shares of Restaurant Brands rose 3% in morning trading. Out of Restaurant Brands' four chains, Tim Hortons performed the best, with same-store sales growth of 4.6%. For the second half of the year, Restaurant Brands is expecting same-store sales growth of roughly 2%. Two days before the quarter ended, Restaurant Brands completed its acquisition of Popeyes China, which will be included in its results next quarter.
Persons: Tim Hortons, Josh Kobza, we've, Popeyes, Burger, Kobza Organizations: Lakeside, United Kingdom . Restaurant Brands, Brands, LSEG, Burger King, U.S, Firehouse, Burger, Restaurant Brands, Holdings Locations: Grays, United Kingdom, Burger, Brazil, Australia, Japan, China, Carrols
Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.
Persons: , Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's
Here's a surprise: Disney 's media business isn't weighing down the company anymore. Disney's combined streaming businesses — Disney+, Hulu and ESPN+ — turned a quarterly profit for the first time ever, making $47 million. Meanwhile, Disney saw a "moderation of consumer demand towards the end of [fiscal] Q3 that exceeded our previous expectations" for its theme parks division. The company said last year it plans to invest $60 billion in its theme parks and cruise lines in the next decade. Disney shares dropped Wednesday, likely because investors were focused on the parks.
Persons: Here's, , Disney, Bob Iger, Iger, Captain America, we're, Hugh Johnson Organizations: Hulu, ESPN, Disney, Netflix
Warner Bros. Here is how Warner Bros. Warner Bros. Discovery's balance sheet carries a significant amount of goodwill stemming from mergers and acquisitions, namely the combination of Warner Bros. and Discovery in 2022. Warner Bros.
Persons: Discovery, Gunnar Wiedenfels, David Zaslav, Discovery's, , Zaslav, Disney, Hulu —, Max Organizations: Warner Brothers Discovery, Turner Broadcasting, Warner Bros, LSEG, Discovery, NBA, Warner Bros . Discovery, Amazon, Revenue, TBS, TNT, Hulu, ESPN, Fox Locations: Atlanta , Georgia
Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Eli Lilly shares declined 1.7% Wednesday after peer Novo Nordisk posted disappointing earnings results before the bell. Investors are weighing if the same fate is in store for Club holding Eli Lilly and its GLP-1 drugs Zepbound and Mounjaro. Still, Jim said Eli Lilly shares could fall further after the drugmaker releases its own quarterly results on Thursday. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Dow, Eli Lilly, , Jim, That's, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Nasdaq, Novo Nordisk, Club, Novo Nordisk's, CVS, Management
"That, of course, requires more capacity, more ships in order to move global trade around the world, and that has created some shortages here in the second quarter and in the third quarter that we're dealing with at the moment," Clerc told CNBC's "Squawk Box Europe." Maersk on Wednesday reported lower year-on-year revenue in the second quarter and across the first half of the year. It also posted second-quarter underlying profit of $623 million, a drop compared to the $1.35 billion reported in the same period last year. Container demand has been more robust than expected but is expected to cool in the coming quarters, Clerc said. Maersk shares were 1.8% lower at 11:33 a.m. in London.
Persons: Vincent Clerc, Clerc, CNBC's Organizations: Maersk Locations: Africa, Good, Europe, U.S, Asia, London
SoftBank Group booked a 1.9 billion yen ($12.9 million) investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended in June, swinging back into the black. However, the Vision Fund segment as a whole posted a 204.3 billion yen loss, after being in profit in the same quarter last year. The Japanese giant also announced it would buy back up to 6.8% of shares available in the company amounting to up to 500 billion yen ($3.4 billion). In the year ago quarter, SoftBank posted 159.77 billion yen gain in its Vision Fund. In the March quarter, SoftBank posted a loss of 57.53 billion yen in its flagship tech investment arm.
Persons: ByteDance —, SoftBank Organizations: SoftBank, Corp, Vision Fund, Vision, Bank of Japan Locations: Tokyo, Japan
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