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☆ Stocks making the biggest moves midday: Uber, Intel, Lyft, Shopify, Rivian and more
▼ + stars: | 2024-05-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

The company's overall revenue exceeded expectations, coming in at $10.13 billion versus analysts' estimate of $10.11 billion, per LSEG. Lyft – The ride-sharing company surged 5% after the company reported faster-than-expected growth in the first quarter. Lyft reported $1.28 billion in revenue, higher than the FactSet consensus of $1.16 billion. Arista Networks – Shares jumped 7% after the company reported better-than-expected first quarter results. Teva Pharmaceuticals — Shares advanced nearly 14% after the company reported better-than-expected revenue in the first quarter.

Persons: Lyft, FactSet, Rivian, Coupang, LSEG, Twilio, –, —, Samantha Subin, Tanaya Macheel, Michelle Fox, Alex Harring Organizations: Technologies, Revenue, LSEG, Intel, Department of Commerce, Huawei, Lyft, Electronic Arts, EA, Farfetch, Arista Networks –, Arista, Dutch Bros, Bros, Pharmaceuticals, Management Locations: China, Korea

☆ Microsoft to build AI hub on previously-owned Foxconn land in Wisconsin
▼ + stars: | 2024-05-08 | by ( Samantha Murphy Kelly | Samantha Waldenberg | ) edition.cnn.com time to read: +3 min

CNN —Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence. The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft. In his remarks Wednesday, Biden plans to directly point his finger at Trump for the failed project, according to a White House official. The White House also introduced an order in 2023 to require AI system developers to share results of their safety tests with the federal government before they are released to the public. Beyond AI, Wisconsin is seeing a spate of funding toward futuristic industries.

Persons: Joe Biden, Trump, Satya Nadella, Biden, Microsoft’s Organizations: CNN, Microsoft, University of Wisconsin, University of Wisconsin -, Trump, White, Infrastructure Law, Badger Locations: Wisconsin, Mount Pleasant , Wisconsin, America, Milwaukee, University of Wisconsin - Milwaukee, United States, Racine –

☆ Apple unveils new iPad Pro with ‘outrageously powerful’ AI-powered chip
▼ + stars: | 2024-05-07 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

In a pre-recorded live streamed event from its Cupertino, California headquarters, the company introduced the latest versions of its iPad Pro and iPad Air tablets, and an all-new Apple Pencil Pro. CEO Tim Cook said Wednesday’s announcement marked “the biggest day for iPad since its introduction.”At the heart of the new iPad Pro is Apple’s new custom M4 processor, which delivers 4 times the performance as its existing iPad Pro models. The latest iPad Pro comes in two sizes: 11 inches and 13 inches. The iPad Pro comes in two finishes, silver and space black. The iPad Air is powered by Apple’s custom M2 processor with faster GPU and neural engine that’s 50% faster than the previous iPad Air.

Persons: Tim Cook, Cook, Apple, ”, it’s Organizations: CNN, Apple, Developers Conference, iPad Locations: Cupertino , California, China

☆ The best and worst looks billionaires wore to the 2024 Met Gala
▼ + stars: | 2024-05-07 | by ( Amanda Krause | Samantha Grindell | ) www.businessinsider.com time to read: 1 min

Simple outfits worked for Jeff Bezos and Lauren Sánchez. Jeff Bezos and Lauren Sánchez attend the 2024 Met Gala. Kevin Mazur/Getty ImagesThe Amazon founder, who has an estimated $200 billion fortune , skipped the Met Gala red carpet. But he eventually joined his fiancée Lauren Sánchez at the top of the Metropolitan Museum steps and showed off his black tuxedo and bow tie. The couple looked chic, classy, and ready for a Met Gala dinner.

Persons: Jeff Bezos, Lauren Sánchez, Kevin Mazur, Oscar, la, neckline Organizations: Metropolitan Museum

☆ Here are other AI stocks vulnerable to profit taking as Druckenmiller sells some Nvidia
▼ + stars: | 2024-05-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

But the chipmaking darling is far from the only artificial intelligence stock that's run too far too fast. Elsewhere, Altimeter's Brad Gerstner eased his stake in the chipmaker and other winning technology stocks, he told CNBC's " Halftime Report ." Nvidia isn't the only AI play vulnerable to profit taking here. Of the group, Micron Technology shares trade at the most significant premium. Over the last year, shares have surged 493% and trade at a 185% premium to their five-year average PE.

Persons: Stanley Druckenmiller, CNBC's, Altimeter's Brad Gerstner, Druckenmiller, We've, Broadcom's Organizations: Nvidia, CNBC Pro, Devices, Micron Technology, Arm Holdings, Broadcom, Arista Networks, Applied Materials, KLA Corporation Locations: British

☆ This entrepreneur was actually the best-dressed person on the 2024 Met Gala red carpet
▼ + stars: | 2024-05-07 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +4 min

Read previewThe 2024 Met Gala came and went in a flash of glamorous red-carpet fashion. AdvertisementBut one of the best takes came from Mona Patel, a philanthropist and entrepreneur who made her Met Gala debut. Related storiesHer work in the fashion world led her to the 2024 Met Gala, where she arrived in a custom Iris van Herpen couture gown. AdvertisementMona Patel on the 2024 Met Gala red carpet. Mona Patel walks up the steps at the Met Gala 2024.

Persons: —, J.G . Ballard, Mona Patel, Patel, Iris van Herpen, Iris, Dimitrios Kambouris, Casey Curran, Cindy Ord, MG24, Roach, Law Roach, Zendaya's, he's, Chris Martin, Edgar Martin Organizations: Service, Metropolitan Museum of Art, Vogue, Business, Haute Mona, Forbes, The Met Museum, Vogue India, Vogue Fashion, Zendaya's Locations: India, Mumbai

☆ Stocks making the biggest moves midday: Disney, Nvidia, Ferrari, Datadog and more
▼ + stars: | 2024-05-07 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines in midday trading: Walt Disney — The entertainment giant sank 10% after posting fiscal second-quarter results . Walt Disney reported adjusted earnings that beat estimates and posted strong Disney+ subscriber growth but slightly missed revenue estimates. Palantir Technologies topped revenue expectations and posted adjusted earnings that were in line with estimates, but offered disappointing full-year guidance. Rocket Lab — Shares declined nearly 4% after the company posted a revenue miss in the first quarter. In the first quarter, the aerospace manufacturer posted revenue of $92.8 million, below the FactSet consensus estimate of $95 million.

Persons: Walt Disney, Stanley Druckenmiller, Datadog, Amit Agarwal, Tesla, Li, Xpeng, StreetAccount, LSEG ., —, Jesse Pound, Brian Evans, Alex Harring, Sarah Min, Hakyung Kim, Tanaya Macheel Organizations: Nvidia, Billionaire, Ferrari, billings, FactSet, Li Auto, Technologies, Palantir Technologies, UBS Group, UBS, CNBC, LSEG, Citi, Simon Property Group, Revenue Locations: Italian, FactSet, U.S

☆ All the looks celebrities wore to Met Gala after-parties this year
▼ + stars: | 2024-05-07 | by ( Amanda Krause | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Celebrities attended parties across New York City following the 2024 Met Gala. Many also changed out of their red-carpet ensembles in favor of fun nightlife looks. AdvertisementCelebrities didn't stop partying after the 2024 Met Gala. Following the "Sleeping Beauties: Reawakening Fashion" event on Monday, actors, musicians, and billionaires stepped out across New York City to attend massive after-parties. And in most cases, those partygoers changed out of their red carpet outfits to wear showstopping nightlife looks.

Persons: Elle Fanning, Lauren Sánchez, —, Keke Palmer, Jeff Bezos Organizations: Service Locations: New York City

☆ A couple came in under their $100,000 budget for their destination wedding at Nobu Hotel in Mexico
▼ + stars: | 2024-05-07 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Misaki and Amir ended up coming in under budget, spending just over $80,000. "Obviously, you can always have a cheaper wedding; you can always have a backyard wedding. "If you don't care to have a wedding, then obviously spending $80,000 on a wedding doesn't make any sense." "Talk with your partner on where your priorities lie, whether you even want to have a wedding," she said. "And then if it is something you want to do, then think about all the other priorities in your life.

Persons: Misaki, Amir, Francisco Salas Misaki

Celebrities attended the "Sleeping Beauties: Reawakening Fashion" Met Gala on Monday. AdvertisementThe 2024 Met Gala was held at the Metropolitan Museum of Art in New York on Monday. The annual fundraising event, which is held in celebration of the Metropolitan Museum of Art's Costume Institute, is one of the most exclusive events of the year. The Met Gala's theme changes each year, and celebrities from Zendaya to Lana Del Rey embraced the "Garden of Time" dress code at this year's event. AdvertisementHere were the best-dressed celebrities at the 2024 Met Gala.

Persons: Lana Del Rey, Colman Domingo, —, Anna Wintour Organizations: Service, Metropolitan Museum of Art, Metropolitan Museum, Art's Costume, Vogue, Costume Institute, The Locations: New York

The 2024 Met Gala was held in New York City on Monday night. Celebrity couples were some of the night's best-dressed and nailed the " Sleeping Beauties" theme. AdvertisementCelebrity couples were some of the best-dressed stars of the 2024 Met Gala. Hosted at the Metropolitan Museum of Art in New York City on Monday, the annual fundraising ball welcomed guests to view the latest Costume Institute exhibit, titled "Sleeping Beauties: Reawakening Fashion." This story is available exclusively to Business Insider subscribers.

Persons: Rita Ora, Taika, — Organizations: Service, Metropolitan Museum of Art, Business Locations: New York City

☆ Stocks making the biggest moves after hours: Reddit, Lyft, Rivian, Twilio and more
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wynn Resorts — The resort-and-casino stock added 2.3% on the back of better-than-expected first quarter earnings. However, the California-based company saw $253 million in revenue for the three-month period, above the consensus forecast of $247 million. Toast — The cloud-based restaurant management software company saw shares jump more than 2% in extended trading after its earnings report. Twilio expects revenue to range between $1.05 billion and $1.06 billion versus an LSEG average estimate of $1.08 billion. The quarter "saw early indications of market share gains in hereditary cancer and prenatal testing," management said.

Persons: Reddit, Lyft, Rivian, Wynn, LSEG, Sonos, —, Yun Li, Hakyung Kim, Pia Singh, Darla Mercado, Scott Schnipper, Samantha Subin Organizations: FactSet, LSEG, Rivian, Wynn Resorts, Arts, Arista Networks, Wall, Myriad Locations: California

☆ 32-year-old attorney quit her 9-to-5 to launch an electric flossing startup—it brought in nearly $1 million in 12 months
▼ + stars: | 2024-05-07 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Samantha Coxe's business idea came from a relatable experience: lying to her dentist about flossing regularly. Coxe sought $250,000 for 5% of her company, which brought in "about $900,000 in sales" over the 12 months prior to filming, she said. The show's investor judges tried out the Flaus flosser, calling it "cool" and complimenting its peppermint flavor — but they wanted to learn more about the numbers. It costs us about $10 to make," Coxe told them. Right now, it's built for adults — but Coxe said a version for kids is "the next product we're coming out with."

Persons: Samantha Coxe's, flossing, Coxe, Flaus, it's, —

Stars pull out all the stops to follow the event's dress code, which changes each year. Rihanna, Cher, and Zendaya have worn some of the best outfits in Met Gala history. AdvertisementThe 2024 Met Gala has finally arrived. There are always eye-catching looks at the Met Gala, but some outfits stand out from the pack. AdvertisementTake a look back at some of the best-dressed Met Gala attendees of all time.

Persons: Rihanna, Cher, —, Anna Wintour, Zendaya, Jennifer Lopez, Chris Hemsworth Organizations: Service, Metropolitan Museum of Art, Vogue Locations: New York City

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The 2024 Met Gala, an elaborate fundraiser for the Costume Institute at the Metropolitan Museum of Art, was held on Monday in New York City. The event theme was "Sleeping Beauties: Reawakening Fashion," with this year's exhibition spotlighting "precious masterpieces of fashion" using technology, Vogue announced in November 2023. This story is available exclusively to Business Insider subscribers. The 2024 Met Gala co-chairs included Jennifer Lopez, Bad Bunny, Zendaya, and Chris Hemsworth, while Loewe's creative director, Jonathan Anderson, and TikTok CEO Shou Chew were the event's honorary chairs.

Persons: —, Jennifer Lopez, Bad, Zendaya, Chris Hemsworth, Jonathan Anderson, Shou Chew, J.G Organizations: Service, Costume, Metropolitan Museum of Art, Vogue, Business Locations: New York City

☆ 18 vintage photos of the Met Gala that show it's been a glamourous night for decades
▼ + stars: | 2024-05-06 | by ( Anneta Konstantinides | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

The 2024 Met Gala will take place Monday night. Vintage photos show socialites, celebrities, and even royals mingling in the past. AdvertisementThe Met Gala is among the most exciting fashion events of the year. An annual fundraiser for the Metropolitan Museum of Art's Costume Institute, the Met Gala brings together celebrities, socialites, athletes, and nepo babies in the form of a themed party at the museum itself. The 2024 Met Gala has a "Sleeping Beauties: Reawakening Fashion" theme and a " Garden of Time " dress code, which will shape what attendees wear on the red carpet.

Persons: — Organizations: Service, Metropolitan Museum, Art's Costume Institute, Business

☆ Disney reports earnings before the bell Tuesday. Here's what Wall Street is watching
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Walt Disney puts its top-tier media dominance to the test when it reports results before the bell Tuesday. Wells Fargo's Steven Cahall upped his price target to $141 a share, suggesting upside of 24%. StreetAccount estimates call for 229.35 million subscribers across the business unit and nearly 155 million Disney+ subscribers. At its last earnings call in February, Disney said it expects between 5.5 million to 6 million added subscribers in the second quarter. He forecasts an additional 4 million subscribers each year.

Persons: Walt Disney, Nelson Peltz, Jessica Reif Ehrlich, David Karnovsky, Wells Fargo's Steven Cahall, Deutsche Bank's Bryan Kraft, Disney, Vijay Jayant, America's Ehrlich Organizations: Trian Partners, LSEG, Walt Disney, Bank of America, JPMorgan, Disney, Deutsche, DTC, Netflix, Bank Locations: F1Q

☆ Kim Kardashian's Met Gala looks, ranked from least to most iconic
▼ + stars: | 2024-05-06 | by ( Samantha Grindell | Anneta Konstantinides | ) www.businessinsider.com time to read: +2 min

Of course, Kardashian's most iconic Met Gala look was her 2022 dress that belonged to Marilyn Monroe. Kim Kardashian attends the 2022 Met Gala. Kardashian wore the gown on the red carpet before changing into a replica because it was so fragile. The conversation around the dress continued for weeks after the Met Gala, as people accused Kardashian of damaging the gown when she wore it. Kardashian solidified her status as the Met Gala it-girl with her Marilyn Monroe look, as it really was a once-in-a-lifetime fashion moment.

Persons: Marilyn Monroe, Kim Kardashian, John Shearer, Kardashian, John F, Kennedy, Jean Louis, Ripley's, Kim, Amanda Joiner Organizations: Vogue Locations: Orlando

☆ Relief rally is 'questionable at best' and stocks to finish year lower from here, says Piper Sandler
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

"This relief rally in equities is questionable at best," wrote chief market technician Craig Johnson. .SPX YTD mountain S & P 500 this year Year to date, the S & P 500 is up more than 8%, with the low end of the firm's range suggesting the benchmark could fall 10% from Friday's close. When an asset breaks above its 50-day moving average, it is seen as a sign of strong momentum. The S & P 500 on Monday rose, breaking above its 50-day moving average. The Nasdaq is also trading above its 50-day average.

Persons: Piper Sandler, Craig Johnson, Stocks Organizations: Dow, Nasdaq Locations: Friday's, U.S

☆ All of Blake Lively's Met Gala looks, ranked from least to most iconic
▼ + stars: | 2024-05-06 | by ( Celia Fernandez | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Blake Lively has attended 10 Met Galas throughout her career. Most recently, Lively wore a dress inspired by NYC landmarks that changed colors. AdvertisementThe 2024 Met Gala has finally arrived. A-list stars will show off their interpretations of the "The Garden of Time" dress code for the "Sleeping Beauties: Reawakening Fashion" Met Gala with their red carpet attire. This story is available exclusively to Business Insider subscribers.

Persons: Blake Lively, Lively, — Organizations: Met, Service, Metropolitan Museum of Art, Business

Early-stage investing is a delicate dance. It demands an understanding of markets, a knack for recognizing potential, and sheer tenacity to weather the cyclical storms of the startup world. Now in its fourth year, our Seed 40 list illuminates the women who have mastered this craft. They are on the front lines, locking arms with visionary founders to transform ideas into full-fledged businesses, often putting money and support behind those builders before others see the opportunity. This story is available exclusively to Business Insider subscribers.

Organizations: Business

Behind most startup founders is an early-stage investor who saw their potential, nurtured their ambition, and backed their ideas. The end of a record bull run in tech rebooted the startup landscape, and now early-stage investors are embracing the change. Founders have gone back to basics, staying lean and mean from the start and harnessing tailwinds of the artificial intelligence boom. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.

Organizations: Business

☆ When grief and AI collide: These people are communicating with the dead
▼ + stars: | 2024-05-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +12 min

People have wanted to reconnect with deceased loved ones for centuries, whether they’ve visited mediums and spiritualists or leaned on services that preserve their memory. In September 2023, it introduced ChatGPT voice, where users can ask the chatbot prompts without typing. HereAfter AI, founded in 2019, allows users to create avatars of deceased loved ones. “Remembering is very important; it reflects the human condition and importance of deceased loved ones.”But she noted the relationship we have with our closest loved ones is built on authenticity. Creating an AI version of that person could for many “feel like a violation of that.”Bill Abney said he feels uneasy about communicating with his late fiancée through AI platforms.

Persons: Ana Schultz, Kyle, ”, Schultz, “, Schutz, they’ve, ” Ana Schultz, ElevenLabs, Joe Biden, Biden, ChatGPT, OpenAI, Danielle Jacobson, she’s, Phil, Cole, ” Jacobson, “ Cole, Replika, Rohit Prasad, Val Kilmer, It’s, Mary, Frances O’Connor, ‘, ’ ”, Bill Abney, Kari, ” Abney, “ I’m, Jodi Spiegel, Sims Organizations: CNN, Davidson College, Tech, Alexa, MARS, Amazon, University of Arizona Locations: Rock Falls , Illinois, Alabama, Johannesburg, South Africa, “, San Francisco, Newfoundland, Canada

☆ Anne Dwane has been a jack-of-all-trades in the startup world. Here's how that's helped her build a successful investing career.
▼ + stars: | 2024-05-06 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +5 min

Over the course of 20 years, Anne Dwane has made a name for herself as a successful entrepreneur and executive. For Dwane, her career as a startup founder and operator helped her find success as an early-stage investor. Dwane left Monster in 2008 to become the CEO of Zinch, an edtech startup that helped colleges recruit and students find programs and scholarships. With the guidance of a mentor, Chegg's CEO Dan Rosensweig, the experience also helped her understand that her superpower lay in helping early-stage companies grow. Village Global is an early-stage fund that leads seed and pre-seed funding rounds.

Persons: Anne Dwane, she's, Reid Hoffman, Jeff Bezos, Bill Gates, Mark Zuckerberg, Dwane, I've, Chegg, Dan Rosensweig Organizations: Monster Worldwide, Business, Village, Georgetown University, Harvard Business School, Research, Monster, Accelerator Fund, Brightside, Airbase Locations: Palo Alto , California, Chegg

☆ Eleia Maria Torres: A missing New Mexico infant has been found and a suspect in her disappearance is in custody, FBI says
▼ + stars: | 2024-05-06 | by ( Paradise Afshar | ) edition.cnn.com time to read: +2 min

CNN —A 10-month-girl police said was abducted from a New Mexico park Friday after the death of her mother and another woman has been found and a suspect is in custody, the FBI announced Monday morning. The bureau did not provide further details on Eleia Maria Torres’ condition and the suspect was not immediately named. The women, both 23, were found with “apparent gunshot wounds” on the ground near a minivan, the police statement said. At the scene, officers also discovered “an infant car seat, an infant stroller and a small baby bottle at the scene,” and began searching for a young child, police said. “Through interviews with family members, investigators learned Samantha Cisneros was the mother to the young female child found at the scene and was also the mother to a 10-month-old child, Eleia Maria Torres,” the news release said.

Persons: Eleia Maria Torres, Samantha Cisneros, Eleia’s, Taryn Allen, stroller, ”, “, Clovis, ” Raul Bujanda, CNN’s Christine Sever Organizations: CNN, FBI, Eleia, Sunday . Police, FBI Albuquerque Division Locations: New Mexico, Covis, Albuquerque, Amarillo , Texas

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