DIRS.INFO The most relevant business & tech news

☆ U.S. Defense Firms Are Warned About Russia’s Sabotage Campaign
▼ + stars: | 2024-11-21 | by ( Julian E. Barnes | More About Julian E. Barnes | ) www.nytimes.com time to read: +1 min

“Those involved in work tied to Ukraine or other geopolitical conflicts should be cautious about disclosing work, travel, personal and family information online,” the warning said. So far all of Russia’s known sabotage attacks have taken place in Europe, although Russian intelligence has targeted many countries, including Britain, France, Germany, Lithuania and beyond. But some officials believe that Russia wants to expand its sabotage campaign to the United States, particularly if the Biden administration in its closing weeks continues to support Ukraine in its war against Russia or takes steps that Russia sees as escalatory. A small fire at the Scranton Army Ammunition Plant in Pennsylvania in September, and another incident at the same site in April, set off concerns that Russia had extended its campaign to the United States. But officials believe those fires were an accident, not sabotage.

Persons: “, Biden Organizations: Scranton Army, Plant Locations: Ukraine, Russia, United States, Europe, Britain, France, Germany, Lithuania, Scranton, Pennsylvania

☆ Forget Nvidia. This is the biggest tech earnings mover of the day and Goldman sees 70% upside
▼ + stars: | 2024-11-21 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The sharp move higher puts the cloud-based data stock on pace for its best day ever. SNOW YTD mountain Snowflake stock headed for its best day ever on Thursday. Goldman analyst Kash Rangan reiterated a buy rating on Snowflake following its third-quarter results, and maintained his price target of $220 per share. JPMorgan, others bullish too JPMorgan Chase analyst Mark Murphy maintained an overweight rating on Snowflake stock, but increased his price target to $185 per share. The analyst reiterated his neutral rating on Snowflake stock but increased his price target to $185 per share from $160, equating to more than 43% upside moving forward.

Persons: Sridhar Ramaswamy, Goldman, Kash Rangan, Rangan, Mark Murphy, Murphy, Brad Sills, he's, Sills, Wells Fargo's Michael Turrin, Turrin Organizations: JPMorgan, Bank of America Locations: Snowflake

☆ Atlas of cells offers a milestone leap in understanding of the human body
▼ + stars: | 2024-11-21 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

New research based on the findings, published in several papers Wednesday in Nature and its sister journals, represents a “leap in understanding of the human body,” according to the Human Cell Atlas consortium. Regev compared scientific knowledge of cell biology before the Human Cell Atlas initiative with a “15th century map.”“Now, years later, the resolution of the map is a lot higher,” she said. The cell atlas aims to fill in a missing link between genes, diseases and treatment therapies. During the Covid-19 pandemic, the Human Cell Atlas community used the available data to reveal that the nose, eyes and mouth were most vulnerable to infection. “It was only clear through the Human Cell Atlas data that those cells were … entry points before the virus continued into the internal organs.

Persons: —, ”, Aviv, Daniel Montoro “, we’ve, Regev, “, Sarah Teichmann, Ken, Blain, Robert Hooke, ” Teichmann, Jeremy Farrar, ” Farrar Organizations: CNN, Human Cell Atlas, Genome, Cell, Google, Human, Human Cell, Cambridge Stem Cell, UK’s University of Cambridge, Wellcome Sanger Institute, Institut, la Vision, HCL, Lyon, World Health Organization Locations: Nature, Genentech, South San Francisco , California, Cambridge, England, Paris, Lyon English

☆ Nvidia reversal moves whole stock market higher, proving again its unprecedented influence
▼ + stars: | 2024-11-21 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

There's no denying how important Nvidia is to the stock market. Stock futures followed Nvidia's lead, riding slight losses at the time. In that time, stock futures recovered their earlier losses and were last up around 0.5%. Many firms lifted their price targets on the chipmaker, including Citi, Wells Fargo and Bernstein . Elsewhere Thursday morning on Wall Street, Wells Fargo initiated GE Vernova as overweight, citing growing power demand from artificial intelligence.

Persons: Nvidia's, Wells Fargo, Bernstein Organizations: Nvidia, Barclays, Bank of America, Citi, GE Vernova Locations: Wells Fargo

☆ Amelia Earhart: Sonar imagery resembling missing plane was a rock formation
▼ + stars: | 2024-11-21 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +7 min

After returning to the site on November 1, Deep Sea Vision — an ocean exploration company based in Charleston, South Carolina, that captured the original sonar image — has identified the object to be a natural rock formation. The hunt for Earhart’s plane continuesThe rock formation was more than 16,000 feet (4,877 meters) underwater. The team sent out the AUV directly above the site in early November, producing a high-resolution image of the rock formation. After the anxious wait, the image surprisingly revealed that the object was a natural rock formation, he said. When Deep Sea Vision first announced the anomaly, Jourdan cautioned against using sonar imagery to identify anything on the seafloor.

Persons: Amelia Earhart, Earhart, Electra, ”, Tony Romeo, “, ” Romeo, Romeo, shouldn’t, Nauticos, David Jourdan, Jourdan, ” Jourdan, ” Amelia Earhart, Fred Noonan, Dorothy Cochrane, Cochrane Organizations: CNN, Lockheed, US Air Force, Vision, Smithsonian National Air and Space Museum Locations: Charleston , South Carolina, Kennebunkport , Maine, Lae, Papua New Guinea, Howland

☆ Bluesky CEO Jay Graber says X rival is 'billionaire proof'
▼ + stars: | 2024-11-21 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

But CEO Jay Graber has some cautionary words for potential acquirers: Bluesky is "billionaire proof." Graber was referring to the way millions of users left Twitter, now X, after Elon Musk purchased the company in 2022. Bluesky now has over of 21 million users, still dwarfed by X and Threads, which Facebook's parent debuted in July 2023. Threads has roughly 275 million monthly users, Meta CEO Mark Zuckerberg said in October. Although Musk said in May that X has 600 million monthly users, market intelligence firm Sensor Tower estimates 318 million monthly users as of October.

Persons: Bluesky, Elon Musk's, Jay Graber, CNBC's, Graber, Elon Musk, Meta didn't, Mark Zuckerberg, Musk, Jack Dorsey's, Dorsey, Jack, we're, we've, that's, Nobody's, algorithmically, We're, That's, Trump Organizations: Twitter, Elon, Meta, Blockchain Capital Locations: Brazil

☆ Ron Insana: Bitcoin could be the mother of all manias as it soars toward $100,000
▼ + stars: | 2024-11-21 | by ( Ron Insana | ) www.cnbc.com time to read: +4 min

As bitcoin prepares to vault to $100,000, I can't help but wonder if cryptocurrency – not artificial intelligence – is the mother of all financial market manias. BTC.CM= YTD mountain Bitcoin in 2024 The first bitcoin, minted in 2009 , changed hands at about one-tenth of one cent. With bitcoin at nearly $100,000 on Thursday, the first buyers of the cryptocurrency would, no doubt, be worth scores of billions of dollars. The three defining features of money are: A medium of exchange A unit of account A store of value Bitcoin – or any cryptocurrency – is not widely used for transactions. The real question in my mind remains, does the world need bitcoin, or does it just want the flagship crypto?

Persons: bitcoin, cryptocurrency, SWIFT, there's, Donald Trump, Charles Mackay, Ron Insana Organizations: Louis Federal Reserve, U.S, U.S ., CNBC Locations: U.S, Dutch

☆ Wells Fargo says GE Vernova is a buy as AI energy demand grows
▼ + stars: | 2024-11-21 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

GE Vernova can help meet the massive energy demands from artificial intelligence, according to Wells Fargo. The firm initiated coverage of the energy company with an overweight rating. Analyst Michael Blum said robust power demand tied to AI could lead to GE Vernova emerging as a key beneficiary, especially because the subsequent buildout will require an update to the power grid. GEV YTD mountain GE Vernova stock. The analyst also noted GE Vernova trades at a discount relative to the S & P 500.

Persons: Michael Blum, Blum Organizations: GE, General, GE Vernova Locations: Wells Fargo

☆ Demand for Nvidia products isn't letting up, Jim Cramer says
▼ + stars: | 2024-11-21 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Thursday reiterated his longstanding belief in Nvidia and CEO Jensen Huang, saying that despite the concerns of some on Wall Street, demand for the artificial intelligence behemoth's products isn't slowing down. Nvidia posted earnings Wednesday that comfortably topped estimates. Nvidia has had a meteoric rise, with shares currently up more than 196% year-to-date, and the company has posted large earnings beats quarter after quarter. According to Cramer, supply isn't set to outpace demand. Some of Nvidia's biggest customers, like Microsoft , Meta , Amazon and Tesla will have to keep buying the products, he said.

Persons: CNBC's Jim Cramer, Jensen Huang, Jensen, Cramer Organizations: Nvidia, Nvidia's, Microsoft, Meta

☆ AI systems could 'turn against humans': Tech pioneer Yoshua Bengio warns of artificial intelligence risks
▼ + stars: | 2024-11-21 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +6 min

Professor Yoshua Bengio, at the One Young World Summit in Montreal, Canada, on Friday, Sept. 20, 2024Famed computer scientist Yoshua Bengio — an artificial intelligence pioneer — has warned of the nascent technology's potential negative effects on society and called for more research to mitigate its risks. Machines could soon have most of the cognitive abilities of humans, he said — artificial general intelligence (AGI) is a type of AI technology that aims to equal or better human intellect. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsSuch outcomes are possible within decades, he said. There are arguments to suggest that the way AI machines are currently being trained "would lead to systems that turn against humans," Bengio said. Yoshua Bengio Head of the Montreal Institute for Learning AlgorithmsCompanies developing AI must also be liable for their actions, according to the computer scientist.

Persons: Yoshua Bengio, —, Bengio, CNBC's Tania Bryer, That's, we're, OpenAIhas, It’s, Yoshua, — that's, OpenAI Organizations: Young, Summit, University of Montreal, Montreal Institute, Machines, Intelligence, CNBC, Learning Locations: Montreal, Canada, AGI, U.S, Rwanda, Swiss

☆ Stocks making the biggest moves premarket: Snowflake, Nvidia, BJ's Wholesale and more
▼ + stars: | 2024-11-21 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Snowflake posted adjusted earnings of 20 cents per share on revenue of $942 million. Analysts surveyed by LSEG were looking for 15 cents in earnings per share on revenue of $897 million. Nvidia – Shares of the chipmaker fell around 1% despite its third-quarter earnings results topping Wall Street's expectations . BJ's Wholesale Club – The stock popped nearly 8% after the warehouse club reported a third-quarter earnings beat and raised its full-year guidance. BJ's also announced a plan to repurchase $1 billion shares and said it will raise its membership fee.

Persons: Snowflake, LSEG, – Stocks, bitcoin, Coinbase, Mara Holdings, Baidu, BJ's, Goldman Sachs, —, Sarah Min, Hakyung Kim, Michelle Fox Theobald Organizations: Palo Alto Networks, Nvidia –, –, Baidu, BJ's Wholesale Locations: Palo

☆ Box CEO Aaron Levie, who voted for Kamala Harris, explains why more Democrats should embrace Elon Musk
▼ + stars: | 2024-11-21 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +6 min

AdvertisementBox CEO Aaron Levie said Democrats should embrace Elon Musk. Levie, who supported Kamala Harris, said he thinks Musk is uniquely qualified to support innovation. In an interview with Business Insider, Levie explained why he thinks Democrats should make an effort to embrace Musk, and how he thinks it would benefit American innovation. Levie supported Vice President Kamala Harris for president, donating to her campaign as well as President Joe Biden's before he dropped out of the race. He said he thinks Musk would be uniquely able to identify things that get in the way of progress in those areas.

Persons: Aaron Levie, Elon Musk, Kamala Harris, Levie, Joe Biden's, didn't, Donald Trump, Musk, Hillary Clinton, Joe Biden, Biden, Tesla, EVs, he'd, Sen, Chris Coons, " Coons, Coons, Pete Buttigieg, Helene, Buttigieg, Vivek Ramaswamy, Ramaswamy, Musk's Organizations: Democratic, Business, Democratic Party, Republicans, SpaceX, Twitter, White, Ford, GM, Tesla, EVs, Republican, Fox, Department of Government Efficiency, Transportation, Elon, Politico, Department of Government, Department of Defense Locations: Delaware

☆ Sam Altman says there was a 'simple' reason OpenAI ditched the nonprofit approach
▼ + stars: | 2024-11-21 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

AdvertisementOpenAI shifted away from being a nonprofit to attract more capital, says CEO Sam Altman. OpenAI needed more funding to scale its AI research efforts, he said in a recent interview. OpenAI's $6.6 billion funding round came with some strings attached: it has 2 years to become a for-profit entity. Altman said that scaling its AI models was a major factor in OpenAI's eventual move toward a profit system. Scaling AI models and providing the data centers and chips necessary to train them to be smarter than the previous interaction is highly expensive.

Persons: OpenAI, Sam Altman, Elon Musk, Altman, OpenAI's, — Organizations: Harvard Business School, Harvard

☆ Here's what analysts are saying about Nvidia earnings
▼ + stars: | 2024-11-21 | by ( Meghan Morris | Chris Johnston | ) www.businessinsider.com time to read: +4 min

CEO Jensen Huang said more Blackwell chips will be delivered this quarter than previously estimated. Nvidia delivered another strong set of quarterly results on Wednesday, sparking positive initial reactions among the company's analysts. Nvidia observers were keeping a close eye on any mention of Blackwell chips, the popular next-generation chips in high demand. Nvidia will deliver more Blackwell chips this quarter than previously estimated, Huang said, and demand exceeds supply as expected. AdvertisementHSBC analysts wrote in a note that they expect "significant" earnings upside for the 2026 financial year despite gross margin pressure.

Persons: Jensen Huang, Blackwell, Trump, aren't, Robert Lea, Huang, Dan Ives, AI Jensen, Konstantin Oldenburger, Stephen Yiu Organizations: Nvidia, Bloomberg Intelligence, Wedbush Global Tech Team, CMC Markets, Deutsche Bank, HSBC, Bloomberg Locations: Asia

☆ This chart shows how crazy-fast the value of Elon Musk's xAI has risen in 16 months
▼ + stars: | 2024-11-21 | by ( Ana Altchek | ) www.businessinsider.com time to read: +2 min

AdvertisementElon Musk's AI startup xAI has been valued at a reported $50 billion, 16 months after its founding. One of his other companies, his artificial intelligence startup xAI, has catapulted from launch just 16 months ago into an AI company now worth a reported $50 billion. So how does that $50 billion compare to the competition? It took OpenAI, last valued at $157 billion in October, around 9 years to pass the $50 billion milestone, according to PitchBook. Musk said the process took 122 days — and the startup plans to double the amount of AI chips inside it in the coming months.

Persons: OpenAI, Elon Musk, —, It's, Grok, Musk Organizations: Elon, Perplexity, SpaceX, Twitter, Nvidia

☆ Inside Trump’s dramatic potential plan to shake up the FBI
▼ + stars: | 2024-11-21 | by ( Kaitlan Collins | ) edition.cnn.com time to read: +3 min

Former Trump FBI deputy director and CNN senior law enforcement analyst Andrew McCabe said Thursday that Rogers would be a “totally reasonable, logical selection” to nominate to lead the agency, pointing to his knowledge of the intelligence community and his experience at the FBI. CNN has reached out to the Trump transition team and the FBI for comment. Sources previously said that Patel had been lobbying for the FBI director position, where he would be well-positioned to try to investigate Trump’s political enemies, declassify sensitive information and purge career civil servants. He also briefly considered installing Patel as deputy FBI director in the closing weeks of his first administration. The deputy FBI director job is a career position – not a politically appointed role – and then-Attorney General William Barr helped talk Trump out of putting Patel at the bureau at the time.

Persons: Donald Trump, MAGA, Trump, Christopher Wray, Matt Gaetz, Mike Rogers, Kash Patel, haven’t, Andrew McCabe, Rogers, McCabe, Patel, ”, that’s, ” McCabe, Gina Haspel, –, William Barr, CNN’s Sara Murray, Zachary Cohen, Evan Perez, Pamela Brown, Kaanita Iyer Organizations: CNN, FBI, Michigan, Senate, Former Trump FBI, Trump Locations: Lago, Florida

☆ Baidu posts 3% drop in third-quarter revenues, beating market expectations
▼ + stars: | 2024-11-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

BEIJING — Chinese tech giant Baidu on Thursday posted a 3% annual drop in third-quarter revenue, nevertheless beating market expectations amid AI cloud growth. Baidu noted a 12% surge in its non-online marketing revenue to the equivalent of $1.1 billion, mainly driven by its artificial intelligence cloud business. Beijing-based Baidu operates one of the major web browser search engines in China, along with a frequently used maps app. Baidu has promoted its Ernie chatbot as a local alternative to OpenAI's ChatGPT, which isn't available in China. "AI Cloud continued to show healthy and sustainable development in the third quarter," he said in the earnings release.

Persons: Robin Li, Ernie, Baidu, Ernie chatbot, Li, Baidu hasn't, Rong Luo, Apollo Organizations: Baidu, CNBC Locations: BEIJING, U.S, Beijing, China

☆ Sarah Silverman says her lawsuit against OpenAI is difficult because the company is one of the 'richest entities in the world'
▼ + stars: | 2024-11-21 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +4 min

Silverman discussed her copyright infringement lawsuit against OpenAI, which owns ChatGPT. Comedian Sarah Silverman opened up about her copyright infringement lawsuit against Sam Altman's OpenAI, which owns the artificial intelligence chatbot ChatGPT. The lawsuit's defendants include OpenAI, L.P. and OpenAI GP, L.L.C, among other entities. The plaintiffs originally sued OpenAI for direct copyright infringement, vicarious copyright infringement, violating The Digital Millennium Copyright Act, unjust enrichment, violating the California and common law unfair competition laws, and negligence. The judge dismissed all the claims except direct copyright infringement and unfair competition, prompting the plaintiffs to file an amended lawsuit in March.

Persons: Sarah Silverman, Rob Lowe's, Silverman, Sam Altman's OpenAI, ChatGPT, Rob Lowe, OpenAI, Sam Altman, Nehisi Coates, Laura Lippman, Paul Tremblay, Jason Redmond, It's, Lowe, that's Organizations: Rob Lowe's Sirius XM, OpenAI, Microsoft, Court, Northern District of, Northern District of California San Francisco Division, Business, Copyright Locations: Northern District, Northern District of California, AFP, California

☆ Elon Musk just reignited his feud with Jeff Bezos
▼ + stars: | 2024-11-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

AdvertisementElon Musk reignited his long-running feud with Jeff Bezos in a X post on Thursday. Musk said Bezos told people that Trump would lose and they should sell their Tesla and SpaceX stock. Elon Musk has taken aim at Jeff Bezos once more, reigniting the war of words between the world's two richest people. In a X post on Thursday, Musk said that Bezos had told people to dump their shares in his companies because Donald Trump was bound to lose the presidential election. This message about Bezos is a way to give himself an excuse to legitimately do so, by saying that 'Bezos started it.'"

Persons: Elon Musk, Jeff Bezos, Musk, Bezos, Trump, Donald Trump, ince, ould, ake Organizations: SpaceX Locations: lon, usk, ehicles,

Russia sent a volley of missiles at the eastern city of Dnipro on Thursday, Ukrainian officials said, the latest assault in a week of rising hostilities between the two adversaries. Ukraine claimed Russia had used an intercontinental ballistic missile, which would have represented a significant escalation in its assaults. But several Western officials said that the weapon was not an ICBM and instead was likely an intermediate-range missile that flies shorter distances. President Volodymyr Zelensky said Russia had attacked Ukraine with a new class of missile. “All the parameters — speed, altitude — match those of an intercontinental ballistic missile,” he said.

Persons: Volodymyr Zelensky, ” Organizations: Russian Defense Ministry Locations: Russia, Dnipro, Ukraine, Russian, Astrakhan

She wrote two more bills that same week supporting Julian Assange and Edward Snowden, who were behind two of the biggest US national security leaks of the 21st Century. Both men are broadly seen as enemies of the state within the intelligence community. Gabbard proposed repealing Patriot ActIf confirmed, Gabbard will be the most markedly anti-surveillance official to lead the intelligence community in the post-9/11 era. Some prominent Republicans like former Trump national security adviser John Bolton and former Trump UN ambassador and 2024 GOP presidential candidate Nikki Haley have come out against her. Scott Olson/Getty ImagesGabbard is in many ways a stranger to the intelligence community.

Persons: Donald Trump’s, spymaster, Tulsi Gabbard, Daniel Ellsberg, Gabbard, ”, Ellsberg, Julian Assange, Edward Snowden, It’s, MAGA, Trump, Assange, Marco Rubio, Elise Stefanik, Mike Waltz, she’s, scot, Jamil Jaffer, George W, Bush, White, George Mason University’s, Snowden, Alexandria Ocasio, Cortez, Assange —, Sen, Rand Paul, Justin Amash, Matt Gaetz, Gabbard’s Snowden, Bill Pugliano, Tulsi, Drew Angerer, Glenn Gerstell, —, Gerstell, ” Gerstell, She’s, neocons, ” “, Vladimir Putin’s, Biden, “, Hannity, Steven Ferdman, cynically, John Bolton, Nikki Haley, DNI, ” Haley, Hillary Clinton, Assad, Obama, Tom Williams, CNN Gabbard, Bashar Assad, Nancy Pelosi, Gabbard’s, we’ve, Trump’s, Qasem Soleimani, ” ‘, Donald Trump, Scott Olson, Democratic Sen, Chuck Schumer, ” Gabbard Organizations: CNN, Democratic, Pentagon, The New York Times, Washington Post, US, National Intelligence, Republican Party, WikiLeaks, National Security Institute, George, National Security Agency, — Democratic, Trump, FBI, Fox, Patriot, Foreign Intelligence, Congress, Capitol, Defense Department, Democrat, Republican, NATO, Fox News Channel Studios, Trump UN, GOP, blindsided, Hawaii National Guard, House Armed Services Committee, Syrian, ISIS, Democratic Party, Lawmakers, Gabbard Locations: Syria, Ukraine, Russia, Alexandria, —, Washington, Detroit , Michigan, Gabbard, Washington ,, China, Hawaii, American, Moscow, New York City, Kremlin, Iraq, Lebanon, Ohio, La Crosse , Wisconsin, United States

☆ How AI regulation in California, Colorado and beyond could threaten U.S. tech dominance
▼ + stars: | 2024-11-21 | by ( Rachel Curry | ) www.cnbc.com time to read: +6 min

California Governor Gavin Newsom vetoed California's bill at the end of September but signed into law another bill which requires transparency in generative AI systems. "A lot of the privacy risks associated with AI can be tackled through a comprehensive data privacy regime," she said. The U.S. has historically approached data privacy with decentralized, state-by-state legislation, which is where AI regulation is currently headed. Regarding Colorado's successful AI bill, Maroney wrote on Facebook, "It is unfortunate that Connecticut chose not to join Colorado as a leader in this space. Even a model approach, if done wrong, could pose a major risk to the U.S. "Everybody's looking at California, especially when it comes to tech," Elgendy said.

Persons: Scott Weiner, Wiener, Gavin Newsom, California's, Tatiana Rice, Jonas Jacobi, Mohamed Elgendy, Elgendy, Rice, Robert Rodriguez, James Maroney, Maroney Organizations: Conference, AI Alliance, Washington D.C, U.S ., European Union AI, Privacy, Data, American, White, Office of Science, Technology, Democratic, Colorado Senate, Democratic Connecticut State, Facebook, Colorado Locations: California, San Francisco, Washington, Puerto Rico, U.S, U.S . Virgin Islands, Colorado, Silicon, Connecticut

☆ Stocks making the biggest moves midday: Netflix, Alphabet, Nvidia, BJ's Wholesale Club and more
▼ + stars: | 2024-11-21 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Nvidia — Shares of the chipmaker dipped about 1% in midday trading, after gyrating earlier in the session. Analysts polled by LSEG had called for earnings of 75 cents per share on $33.16 billion in revenue. Baidu — U.S. shares of the Chinese search engine fell about 5% after Baidu's third-quarter revenue declined by 3% compared to the year-ago period . BJ's Wholesale Club — Shares moved 9% higher after the warehouse club's third-quarter adjusted earnings beat the Street's estimates. The company said it will increase its membership fee and announced plans to repurchase $1 billion shares.

Persons: LSEG, Snowflake, Sridhar Ramaswamy, Merus, Goldman Sachs, — Stocks, Michael Novogratz, MicroStrategy, Miner Mara Holdings, BJ's, PDD, — CNBC's Sean Conlon, Yun Li, Michelle Fox Organizations: Nvidia —, Nvidia, Baidu, Department of Justice, Google, Chrome, Netflix, of America, —, Galaxy Digital, Miner, BJ's Wholesale, PDD Holdings

☆ UBS sees the 'Roaring 20s' continuing, S&P 500 rising again next year — maybe to 7,000
▼ + stars: | 2024-11-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

This booming period marked by strong economic growth and robust market returns could extend into 2025, according to UBS, which is calling for the S & P 500 to rise as high as 7,000 in its most optimistic, bullish case. "The market and economic developments have led some to term the decade so far as the 'Roaring 20s,' marked by high economic growth, strong market returns, and improving productivity," Mark Haefele, UBS Global Wealth Management chief investment officer, said in a note to clients. .SPX YTD mountain S & P 500 The Wall Street bank set its base case of a 6,600 S & P 500 target for 2025, or about 10% upside from current prices. For its bull case, the equity benchmark could climb to 7,000 by year end 2025, a 16% gain from current levels. The S & P 500 appears set to wrap up a strong 2024 with a bang, thanks to optimism toward President-elect Donald Trump 's market-friendly policies.

Persons: Mark Haefele, Donald Trump, Haefele Organizations: UBS, UBS Global Wealth Management

Of course, these basic rules of political decorum are ones Donald Trump has rarely followed. He’s been accumulating political capital, and his victory only gives him an opening to accumulate more ... if he chooses to. On some level, I accept the notion that one person’s revenge is another person’s “reform,” so I’m sure Trump could argue he’s appointing reformists. What will ultimately matter is whether these folks can govern like reformers or end up simply as conduits for Trump’s revenge. Here’s the political problem Trump is creating for himself: He’s taking full ownership of the entire bureaucracy now.

Persons: Donald Trump, He’s, Trump, acquiesce, Matt Gaetz, Pete Hegseth, Robert F, Kennedy Jr, Tulsi Gabbard, let’s, Nancy Mace's, Hegseth, “, wasn’t, Harris, Joe Biden, Biden, I’ve, didn’t, Barack, Biden’s Organizations: —, Justice Department, Fox, Defense Department, Department of Health, Human Services, GOP, Pentagon, “ DEI, Biden, Democratic, Trump Locations: Russia, Oklahoma, Afghanistan, overreach

Search resuls for: "Intelligence"

25 mentions found