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☆ Barclays says this little-known electronics stock is primed for even more gains ahead thanks to AI
▼ + stars: | 2024-11-05 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Artificial intelligence tailwinds could mean more gains ahead for Celestica , according to Barclays. The investment bank initiated coverage on the stock with an overweight rating, and its price target of $91 implies nearly 26% upside from Monday's close. Not only that, Celestica's gains are bolstered by an upcoming upgrade cycle in hyperscaler bandwidth technology, which is where the company already has a leading market share, Wang also said. "CLS is strongly positioned in the 800G upgrade cycle, enabling hyperscaler customers to transition from 400G to 800G," he continued. CLS YTD mountain CLS, year-to-date Shares of the company have been on a massive rally this year, as the stock has gained more than 159%.

Persons: George Wang, Wang, It's Organizations: Celestica, Barclays, CLS, Google

He recently told the Wall Street Journal editorial board that Chinese President Xi Jinping respects him but also knows he’s “crazy” and wouldn’t provoke him. But Chinese officials might also see potential for Musk to be a mitigating influence on issues such as tariffs. Like other American business leaders, Musk has met with senior Chinese officials as Beijing courts international companies. AP fileIf Chinese officials receive Musk almost like a world leader, the Chinese public treats him like a rock star. Chinese officials have not been shy about making the connection between what Musk says and where he makes his money.

Persons: Donald Trump, Elon Musk, Jia Qingguo, Trump, ” Jia, Xi Jinping, he’s, ” Trump, Joe Biden’s, “, they’re, ”, Kelly Grieco, Musk, Li Qiang, Qin Gang, ” Grieco, Jennifer Lian, Henry Kissinger, Ian Bremmer, Tesla, Kuan, “ He’s, ” Tesla, Li Keqiang, Li, ” Musk, Grieco, didn’t, Xi, Qin, Hsiao, Kamala Harris, Janis Mackey Frayer, Jennifer Jett Organizations: SHANGHAI, Trump, Peking University, NBC News, Wall Street, Stimson, Qin, Weibo, Communist Party ., Eurasia Group, SpaceX, Shanghai Gigafactory, Getty, U.S, Shanghai, NBC, Global Times, Financial Times, Beijing, Washington, U.S ., Democratic Locations: China, Beijing, Musk, Washington, U.S, United States, York, Shanghai, Chinese, Jiangsu, Xinjiang, Taiwan, Hong Kong, Starlink, Ukraine, Russian, British, European

☆ Next U.S. president shouldn't surrender America's energy dominance, TotalEnergies CEO warns
▼ + stars: | 2024-11-04 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

Whoever wins the 2024 U.S. election should work to preserve America's energy dominance rather than risk losing it, TotalEnergies CEO Patrick Pouyanne told CNBC on Monday. The U.S. is the world's largest oil producer, accounting for 22% of the global total, according to the Energy Information Administration, with Saudi Arabia next, producing 11%. The vast majority of U.S. crude is consumed within the country, which is also the world's largest oil consumer. Roughly 64% of total U.S. crude oil production is shale and the French international energy firm CEO said the U.S. will also soon be No. Looking ahead to the election, former President Donald Trump and the Republican party have long been proponents of U.S. shale production, pushing for deregulation of the industry and an expansion of drilling projects — drawing the ire of climate activists and many on the left.

Persons: Patrick Pouyanne, Pouyanne, CNBC's Dan Murphy, Donald Trump Organizations: CNBC, Energy Information Administration, French, U.S, Republican Locations: U.S, Saudi Arabia, Abu Dhabi

Benefits of a joint credit cardA joint credit card can offer various benefits, particularly for couples, close friends, or family members. How to apply for a joint credit cardUnderstanding eligibility criteria and the necessary documentation is the first step in your joint credit card journey. Application process and requirementsApplying for a joint credit card is, for the most part, the same as applying for a credit card as an individual. Best practices for resolving disputes over joint credit card expensesOpening a joint credit card can lead to stressful — and expensive — disagreements if you and the co-cardholder aren't on the same page. Frequently asked questions about joint credit cardsCan joint credit cards affect both credit scores?

Persons: —, You'll, cosigning, Eric Rosenberg, Eric, Read, Meghan Hunter Meghan Hunter, Guy, she's, Meghan Organizations: Apple, U.S . Bank, Finance Locations: Chevron, Ventura , California, Portugal

☆ AppLovin's 300% surge in 2024 leaves ad-tech company with big expectations for earnings
▼ + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com time to read: +4 min

AppLovin has soared 310% in 2024, beating every U.S. tech company with a market cap of at least $5 billion, according to FactSet data. The technology helps put more targeted ads on the mobile gaming apps the company owns, and works for other studios that license the software. They said the company's "real opportunity" is to catch the influx in brand advertising towards mobile gaming from more conventional channels like social media or legacy broadcasting. Because of its position in digital advertising, AppLovin faces potential competition from some of the most well-capitalized companies on the planet. In 2022, AppLovin gave up on efforts to buy gaming software developer Unity Software for $20 billion, after Unity shareholders rejected the bid.

Persons: AppLovin, Wells Fargo, FactSet . Oppenheimer, Stifel Nicolaus, Jefferies, Adam Foroughi, could've, Foroughi, mightily, Unity, LightShed's Brandon Ross Organizations: Nvidia, Revenue, FactSet, Wedbush, Google, Facebook, Apple, Orient, Unity Software, Unity Locations: BTIG, AppLovin, U.S

☆ We're buying more of two stocks that have been unfairly dinged in the past week
▼ + stars: | 2024-11-04 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Now that our trading restrictions for AMD and CrowdStrike are cleared, we can finally add to our positions. Whenever Jim mentions a stock on CNBC TV, we cannot buy or sell it for three days. We've wanted to buy AMD since its post-earnings sell-off on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jim Cramer's, Jim, We've, Jim Cramer Organizations: AMD, CrowdStrike, CNBC, Meta, Microsoft, Jim Cramer's Charitable Locations: CrowdStrike

☆ I 'quiet quit' my accounting job in my 30s. It was the right decision and helped me determine what truly makes me happy.
▼ + stars: | 2024-11-04 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +7 min

But she realized her job wasn't making her happy and became a "quiet quitter." AdvertisementThis as-told-to essay is based on a transcribed conversation with Heather Doran, a 43-year-old in Mississippi, about "quiet quitting" at work. Roughly three years into the role, I started "quiet quitting." But "quiet quitting" is about going back to just doing the job we were hired to do, which isn't lazy. AdvertisementDo you have a "quiet quitting" story you want to share with Business Insider?

Persons: Heather Doran, she'd, —, We're, We'll, I'd Organizations: Service, Business Locations: Mississippi, South Carolina, I've

Whoever is elected the 47th president of the United States will start with a rare and clear advantage: a remarkably solid economy. Tuesday’s election will show how much that all matters to voters, who will soon decide which candidate they want to entrust the economy to from here. But to regular American households, it’s more of a “Yes, but” economy: Yes, the job market is strong, but my boss wants me in five days a week, and that doesn’t work for me anymore. Yes, inflation has fallen, but I can’t afford day care. Prices across the rest of the service economy were 4.7% higher overall, and medical care was up 3.9%.

Persons: Kamala Harris, Donald Trump, Spencer Platt, Yuki Iwamura, they’re, Helene, Milton, Patrick T, Fallon, Harris, ”, Greg Valliere, Joe Biden wasn’t, Trump, Karoline Leavitt, “ Kamala Organizations: Investment, Stock, Getty, Consumer, Bloomberg, CNBC, First Street Foundation, NBC, AGF Investments, Biden Locations: United States, Ukraine, Israel

☆ 10 House races to watch on election night (and beyond)
▼ + stars: | 2024-11-03 | by ( Terence Burlij | ) edition.cnn.com time to read: +17 min

With so much at stake, CNN has identified 10 races to watch on Tuesday – grouped into buckets that nod to broader themes across the House landscape. Democratic Rep. Abigail Spanberger decided against seeking a fourth term, instead launching a campaign for governor in 2025. Democratic Rep. Jared Golden has crafted a moderate profile by challenging his party on issues ranging from spending to immigration. This year she faces a challenge from GOP state Rep. Gabe Evans, a fellow Mexican American and a former Army helicopter pilot and police officer. GOP Rep. Zach Nunn, an Air Force officer, was first elected in 2022 – defeating Democratic Rep. Cindy Axne by about 2,000 votes.

Persons: CNN —, Mike Johnson, Hakeem Jeffries, Donald Trump, Kamala Harris, Eugene Vindman, Derrick Anderson, Abigail Spanberger, Biden, Vindman, Anderson, Trump’s, Alexander –, Volodymyr Zelensky, Jen Kiggans, Missy Cotter Smasal, Don Bacon, Tony Vargas, –, Joe Biden, Brad Ashford, Bacon, Vargas, Harris, Jared Golden, Austin Theriault, Golden, Theriault, Elissa Slotkin’s, Curtis Hertel, Tom Barrett –, Barrett, Gretchen Whitmer, Michigan’s, Dan Kildee, Yadira Caraveo, Gabe Evans, Hyoung Chang, Yadira, Evans, Scott Perry, Janelle Stelson, Stelson, Josh Shapiro, Perry, Marc Molinaro, Josh Riley, Sen, Al Franken, Trump, Michelle Steel, Derek Tran, Don Davis, Davis, Laurie Buckhout, Zach Nunn, Cindy Axne, Lanon Baccam, CNN’s David Wright, Matt Holt, Molly English, Renée Rigdon, Andrew Menezes Organizations: CNN, Congress, Republicans, GOP, Louisiana Republican, New York Democrat, White, Republican, Democratic, Labor, Army, National Security Council, NSC, Biden, Nebraska Rep, GOP Rep, Air Force, Democrats, Electoral College, Harris, Capitol, Trump, Marine Corps, Trump voters, NASCAR, Democrats outpacing Republicans, Republican Democratic Rep, Army helicopter, Slotkin, Hertel, CIA, Central Michigan, Colorado Rep, Denver Post, crosscurrents, Colorado, Latina, Caucus, – Trump, MAGA, Empire, Democrats outspending Republicans, District :, US Army, North, North Carolina –, an Air Force, Iowa’s, Dallas County, US Department of Agriculture Locations: Louisiana, Virginia’s, Washington, Virginia, District, Virginia Beach, Omaha, Maine’s, Canada, Lewiston –, AdImpact, Michigan’s, Michigan, Lansing, Central, Denver, exurbs, Mexican, Aurora, Central Pennsylvania, New York, Empire, Hudson, It’s, California’s, District : California, California, Orange, Los Angeles, Korean, North Carolina’s, North Carolina, Alabama, Iowa’s, Des Moines, Laos

☆ How a free meal cost an investor his retirement savings
▼ + stars: | 2024-11-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

George Wilson learned the hard way that there's no such thing as a free lunch — or, in his case, a free dinner that cost him a chunk of his retirement savings. He also met David Escarcega, one of the hosts and a broker who would eventually advise him to invest in so-called non-correlated, fixed-income alternative products from the now-bankrupt firm GWG. AdvertisementBut those meals aren't really free, Murray said. They're referred to as "free lunch seminars," said Adam Gana, a securities attorney who worked on Wilson's case. In 2017, he decided to renew his investment, according to documents viewed by Insider.

Persons: George Wilson, Wilson, Chris Steak, David Escarcega, Michael Murray, Murray, Adam Gana, Gana, I've, Jean, Escarcega, we're, Wilson wasn't, FINRA, Craig McCann, McCann, he's, Outsized Organizations: GWG, GWG Holdings, Financial, SEC, ADV, CPA, Treasury Locations: GWG

☆ Berkshire’s cash soars to $325 billion as Buffett sells Apple, BofA; operating profit falls
▼ + stars: | 2024-11-02 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Profit also rose at the BNSF railroad, which shipped more consumer goods, and Berkshire Hathaway Energy, where operating expenses declined. It has now sold more than 600 million of the iPhone maker’s shares in 2024, though Apple remained Berkshire’s largest stock holding, at $69.9 billion. The sales comprised a large portion of the $36.1 billion of stock, including several billion dollars of Bank of America shares, that Berkshire sold in the quarter. Operating profit from Berkshire’s dozens of businesses fell to $10.09 billion, or about $7,019 per Class A share, from $10.76 billion a year earlier. This more than offset a near doubling of underwriting profit at Geico.

Persons: CNN — Warren Buffett, Berkshire Hathaway, Hurricane Helene, Apple, Buffett, Helene, Whittaker Clark, Daniels, Greg Abel Organizations: CNN, Apple, Berkshire Hathaway Energy, Bank of America, Berkshire, Hurricane Milton Locations: Berkshire, Geico . Berkshire, Hurricane, Florida, Omaha , Nebraska

☆ Super Micro's 44% plunge this week wipes out stock's gains for the year
▼ + stars: | 2024-11-01 | by ( Ari Levy | ) www.cnbc.com time to read: +4 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The company's recent challenges date back to August, when Super Micro said it would not file its annual report on time with the SEC. Super Micro disclosed on Wednesday that Ernst & Young had resigned as its accounting firm just 17 months after taking over from Deloitte & Touche. That's up from $2.1 billion a year earlier and $1.9 billion in the same fiscal quarter of 2023. WATCH: I don't know if Super Micro is guilty or innocent, says Jim Cramer

Persons: Charles Liang, Dow Jones, Ernst, Young, Ernst & Young, Jim Cramer Organizations: Super, Computer Inc, Super Micro, Nasdaq, U.S, SEC, Hindenburg Research, Street, Department of Justice, Deloitte, Touche, CNBC, Ernst, Argus Research, Justice Department, Micro Locations: Taipei, Taiwan

☆ Stocks making the biggest moves midday: Intel, Amazon, Boeing, Chevron and more
▼ + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The company posted earnings of $1.88 per share, excluding items, on revenue of $52.28 billion. Analysts polled by FactSet called for adjusted earnings per share of $1.62 on revenue of $50.90 billion. Intel — Shares popped 9% after the chipmaker topped third-quarter earnings estimates and shared upbeat quarterly guidance. The company posted adjusted earnings of 17 cents per share on $13.28 billion in revenue. Chevron also returned a record of more than $7 billion to shareholders in the quarter through buybacks and dividends.

Persons: Health —, Cardinal, FactSet, Atlassian, Donald Trump, Ernst, Ernst & Young, Avis, —, Alex Harring, Brian Evans, Michelle Fox Theobald, Sean Conlon, Samantha Subin Organizations: Health, Boeing —, Intel, Amazon, Web Services, Apple —, Trump Media & Technology Group, Communications, Abbott Laboratories, Abbott, Ernst &, Avis Budget, LSEG, Chevron Locations: Europe, buybacks

☆ China's Zeekr reports EV deliveries in October nearly doubled, clocks its best monthly numbers
▼ + stars: | 2024-11-01 | by ( Sonia Heng | In Sonia-Heng | ) www.cnbc.com time to read: +1 min

ZEEKR EV cars are displayed at the 45th Bangkok International Motor Show in Bangkok, Thailand, March 25, 2024. Chinese electric carmaker Zeekr said Thursday its deliveries surged by 92% in October from a year ago, helping the company clock its best month at 25,049 vehicles. That beat the prior record of 21,333 deliveries in September, bringing Zeekr's total for the year to nearly 168,000. Earlier in the week, Chinese smartphone and home appliance company Xiaomi said it delivered more than 20,000 electric vehicles in October. Xiaomi aims to deliver 100,000 electric cars by the end of November.

Persons: Zeekr, Xpeng, Li Auto, BYD, Aito, Xiaomi Locations: Bangkok, Thailand

☆ China new home prices grow slightly faster in Oct, private survey shows
▼ + stars: | 2024-11-01 | by ( ) www.cnbc.com time to read: +2 min

People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China. Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market. The average price across 100 cities edged up 0.29%, compared with the previous month's 0.14%, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.08% versus 1.85% growth in September. Average new home prices fell 0.02% from a month earlier in smaller cities last month, the China Index Academy data showed.

Persons: Nomura Organizations: Dalian, China Index, Authorities, Nomura Locations: Dalian, Liaoning Province of China, China, Shanghai, Beijing

☆ Higher taxes will make it harder for Britain to build 'the next Nvidia,' tech execs say
▼ + stars: | 2024-11-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

The lower capital gains tax rate was increased to 18% from 10%, while the higher rate climbed to 24% from 20%. Reeves said the increases will help bring in £2.5 billion ($3.2 billion) of additional capital to the public purses. Still, Reeves said the U.K. would still have the lowest capital gains tax rate of any European G7 economy. watch nowReeves announced that the rate of tax on carried interest, which is charged on capital gains, would rise to 32%, up from 28% currently. She nevertheless urged the government to look seriously at mandating that pension funds diversify their allocation to riskier assets like venture capital — a common ask from VCs to boost the U.K. tech sector.

Persons: Rachel Reeves, Reeves, BADR, Paul Taylor, Taylor, Haakon Overli, Dawn Capital, Overli, Anne Glover, Glover, Clarity, Steve Hare, Sage, Sean Reddington, Reddington Organizations: Labour Party Conference, ACC Liverpool Convention Center, Anadolu, Getty, LONDON, Labour, CGT, National Insurance, Unicorn Council, Nvidia, Dawn, NVIDIA, Amadeus Capital, Wealth, Norway's, Fund Global, Saudi Arabia's Public Investment Fund Locations: Liverpool, British, Britain, VCs

☆ Stocks making the biggest moves premarket: Amazon, Apple, Atlassian and more
▼ + stars: | 2024-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street's estimates. Chevron topped Wall Street's third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion.

Persons: Atlassian, FactSet, Abbott, Ernst, Young, Wall, LSEG, —, Jesse Pound, Sean Conlon, Pia Singh, Sarah Min Organizations: Amazon Web Services, Apple —, Intel —, LSEG, Abbott, Boeing —, . Avis Budget, Chevron, Exxon Mobil —, Exxon, Juniper Networks, Hewlett Packard Enterprise Locations: Europe, Missouri

☆ Record numbers of wealthy Americans are making plans to leave the U.S. after the election
▼ + stars: | 2024-11-01 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

A growing number of wealthy Americans are making plans to leave the country in the run-up to Tuesday's election, with many fearing political and social unrest regardless of who wins, according to immigration attorneys. While talk of moving overseas after an election is common, wealth advisors said this time many of the wealthy are already taking action. Volek said that for the first time, wealthy Americans are far and away the company's largest client base, accounting for 20% of its business, or more than any other nationality. He said the number of Americans making plans to move abroad is up at least 30% over last year. A survey by Arton Capital, which advises the wealthy on immigration programs, found that 53% of American millionaires say they're more likely to leave the U.S. after the election, no matter who wins.

Persons: Robert Frank, We've, Dominic Volek, Volek, David Lesperance, Lesperance, it's Organizations: Henley & Partners, Associates, Arton

☆ A fast-changing Chinese coffee market awaits Starbucks CEO Brian Niccol
▼ + stars: | 2024-11-01 | by ( Eunice Yoon | ) www.cnbc.com time to read: +4 min

In this article SBUX Follow your favorite stocks CREATE FREE ACCOUNTPeople seen around the Starbucks coffee store in Shenzhen, China. Costfoto | Nurphoto | Getty ImagesThe formerly Nasdaq-listed Luckin Coffee ran into accounting issues and went through a de-listing. Starbucks has an express version of its coffee stores in China called Starbucks Now, where most patrons order drinks on the app for pick up. Competition from everywhereOn top of the Chinese coffee rivals, Starbucks is competing with a host of other local chains on tea. With more and more Chinese wanting a daily java fix, grab-and-go coffee is becoming widely available at tea chains and convenient marts.

Persons: Jakub Porzycki, Brian Niccol, Niccol, CNBC's Andrew Ross Sorkin, Price, Zhang Peng, Auntea Jenny, Mixue, Jenny, Tim Hortons Organizations: Nurphoto, Starbucks, Nasdaq, Shanghai Starbucks, Lightrocket, Getty, KFC Locations: Shenzhen, China, Shanghai, Cotti, Beijing, Luckin, Costa Coffee

☆ Thousands of ballots are at stake as the Supreme Court considers Pennsylvania voting rules
▼ + stars: | 2024-10-31 | by ( Marc Meredith | Michael Morse | Marc Meredith Is A Professor Of Political Science At The University Of Pennsylvania | ) www.nbcnews.com time to read: +10 min

Together, Pennsylvania’s mail ballot rules have generated an entire vocabulary for rejected mail ballots — ballots that are unsigned, undated or misdated, or even “naked,” if they are not clothed in a secrecy envelope. The latest update from Oct. 31 — after the general statewide deadline to request a mail ballot — shows there were 2,193,578 mail ballot applications ever approved. Combined with the deficient returned ballots that we already know about referenced above, that comes to about 8,000 deficient mail ballots that have been returned to date. Although this general election will likely see more mail ballots returned than the previous midterm, the trend so far suggests we might have fewer mail ballots rejected. Moreover, the experience in 2022 suggests there will also be thousands of provisional ballots cast by voters who return deficient mail ballots.

Persons: — Organizations: U.S, Supreme, NBC, Philadelphia Board, Democratic, Senate Locations: Pennsylvania

☆ Biden hosts formal ceremony to celebrate federal support for Hispanic-serving institutions
▼ + stars: | 2024-10-31 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

President Joe Biden hosted a formal ceremony Wednesday to publicly celebrate his executive order establishing an initiative to increase funding for Hispanic-serving institutions and create a board of advisors on HSIs. Flores said the executive order shows a federal understanding of how crucial HSIs are to the future of the nation. The more than 500 HSIs in the U.S. and Puerto Rico serve more than 4.7 million students every year, according to federal data. Many students are low-income, and nearly a third are eligible for Pell grants, which are federal scholarships for students in need. “The president’s executive order will strengthen these critical institutions and build their capacity to provide economic mobility for all their students.”

Persons: Joe Biden, Education Miguel Cardona, Biden, Antonio R, Flores, ” Flores, Pell, ”, Neera Tanden Organizations: Census, Education, Hispanic Association of Colleges, Universities, House, Associated Press Locations: U.S, Puerto Rico, American

Andrew Cuomo to the Department of Justice, alleging he made “criminally false statements” during closed-door testimony in June 2024. In the Republican-led committee’s referral, it says Cuomo “knowingly and willfully made materially false statements” to the panel during its investigation into the New York’s Covid-19 response. Cuomo also denied having discussions about the July 6 report being peer reviewed, according to the panel, which said documents show otherwise. The panel said Cuomo was not under oath during his testimony but was required to answer questions truthfully to Congress. Cuomo’s plan to centralize the pandemic response in the governor’s office also has received criticism, including from an independent report commissioned by his successor, Gov.

Persons: Andrew Cuomo, General Merrick Garland, Cuomo “, ”, Cuomo, “, Rich Azzopardi, ” Azzopardi, Rita Galvin, Galvin, Elise Stefanik, Brad Wenstrup, ” Wenstrup, “ You’re, Trump, ” Cuomo, Kathy Hochul Organizations: U.S, New York Gov, Department of Justice, Republican, of Health, U.S . Rep, ”, Ohio Republican Locations: New York, “

☆ Amazon crushed it in e-commerce and cloud, forecast an impressive holiday quarter
▼ + stars: | 2024-10-31 | by ( Jeff Marks | ) www.cnbc.com time to read: +9 min

Amazon reported a much better-than-expected third quarter Thursday, with strong growth across online sales, its cloud business and advertising. Commentary Cloud unit Amazon Web Services (AWS) revenue in the third quarter was essentially in line with the consensus forecast. Growth on a constant currency basis held steady from the second quarter at 19%, breaking a three-quarter streak of accelerating revenue growth. Quarterly results As for the rest of the company, Amazon delivered revenue beats across Online Stores (7% revenue growth), Subscription Services (11% revenue growth), and Advertising Services (19% revenue growth). Smaller businesses like Physical Stores (5% revenue growth) and Other (7% revenue growth) were better than expected too.

Persons: Andy Jassy, Jassy, it's, Kuiper, That's, Jim Cramer's, Jim Cramer, Jim, Nathan Stirk Organizations: Amazon, LSEG, Management, Walmart, Target, Microsoft, North America, International, Web Services, AWS, Subscription Services, Advertising Services, Seller Services, CNBC, Getty Locations: North, North America, United Kingdom, Germany, Sutton Coldfield, England

☆ A market hedge for those worried neither Trump nor Harris will do anything about the growing fiscal deficit
▼ + stars: | 2024-10-31 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

By contrast, Vice President Kamala Harris's tax plan is expected to increase tax revenues by $1.7 trillion over 10 years, but at a cost of negative 2% to long-run GDP and 786,000 jobs. The Wharton School of the University of Pennsylvania estimates that, including her spending proposals, the primary deficits would increase by $1.2 trillion, and accounting for adverse economic feedback effects, primary deficits increase to $2 trillion. Higher deficits and higher debts, just with different paths to get there. One candidate proposes cutting taxes to improve economic activity but increase deficits, and the other proposes raising taxes and increasing spending by even more and growing deficits. If the deficit keeps increasing faster than our economy grows, so will the debt, inflation, and interest rates.

Persons: We'll, Donald Trump's, Kamala Harris's, Harris, Kamala Harris, Bernie Sanders, Treasuries Organizations: Tax Foundation, Wharton School, University of Pennsylvania, Medicare, Green New Deal, TLT, Treasury Bond ETF, CNBC, NBC UNIVERSAL Locations: United States, Europe

☆ Stocks making biggest moves premarket: Carvana, eBay, Microsoft, Uber Technologies and more
▼ + stars: | 2024-10-31 | by ( Sean Conlon | ) www.cnbc.com time to read: +5 min

Carvana – Shares surged more than 19% on the heels of a third-quarter earnings and revenue beat . Microsoft sees revenue coming in between $68.1 billion and $69.1 billion, while analysts were estimating $69.8 billion, according to LSEG. Comcast – Shares climbed nearly 6% after the theme park and media company's third quarter earnings and revenue beat analyst estimates. Cigna – Shares advanced more than 2% after the insurer's third-quarter earnings and revenue beat analysts' expectations. Coinbase – The cryptocurrency exchange platform fell more than 2% after third-quarter earnings and revenue missed Street estimates .

Persons: Carvana, LSEG, Peter Stern, Robinhood, Meta, Cigna, FactSet, Etsy, Coinbase, —, Alex Harring, Samantha Subin, Jesse Pound, Lisa Kailai Han, Sarah Min, Michelle Fox Theobald Organizations: eBay, Ebay, –, Microsoft, Booking Holdings, Uber Technologies, Comcast, LSEG, Super, Facebook, Meta, Wall, CNBC Locations: StreetAccount, LSEG .

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