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☆ Stocks making the biggest moves premarket: Intel, GameStop, Bath & Body Works and more
▼ + stars: | 2024-06-04 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Bath & Body Works — Shares of the home fragrance and personal care retailer dropped 9%. Bath & Body Works topped first-quarter earnings and revenue estimates but shared disappointing guidance for the current period. The company expects earnings to range between 31 cents and 36 cents a share, versus a FactSet estimate of 38 cents. Gitlab — The software company shed 2.3% despite posting an earnings and revenue beat postmarket for its fiscal first quarter Monday. Adjusted earnings per share came in at 3 cents, versus the 4 cent loss per share expected from analysts polled by LSEG.

Persons: Keith Gill, Gill, —, Fred Imbert, Alex Harring, Michelle Fox Organizations: Intel, Nvidia, AMD, GameStop, Street Journal, AMC Entertainment, Body Works, LSEG, Revenue, CNBC

☆ With Paramount's long and winding sales process coming to an end, here's what comes next for the media giant
▼ + stars: | 2024-06-04 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

AdvertisementThe media giant, which owns Paramount Pictures and CBS, has been in the news as an acquisition target since late last year. Skydance might not be as recognizable a name, but the company's owner and CEO David Ellison is. It's "is Paramount big enough to survive on its own?" The rush to corner the market on data centers is a move by Big Tech to secure the keys to the coming AI kingdom. Big Tech, finance, and consulting jobs are becoming harder to come by, upending the job search for young people.

Persons: —, Donald Trump, Rebecca Zisser, Warner, David Zaslav, Byron Allen, David Ellison, Larry Ellison, he's, Phillip Faraone, Peter Kafka, That's, Larry Ellison's, Alyssa Powell, Savita Subramanian, Gary Shilling, Kitty, Keith Gill, Arif Qazi, Jason Zander, they'll, Apple's, Siri, Dominic Bugatto, that's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Annie Smith Organizations: Service, Paramount, Business, Paramount Pictures, CBS, RedBird Capital Partners, KKR, Warner Bros . Discovery, Sony, Hollywood, Getty, Tech, Bank of America, Wall Street, GameStop, Google, Microsoft, Big Tech, BI, Washington Post, Hewlett Packard Enterprise Locations: China, India, Texas, New York, London

☆ How Roaring Kitty's wealth went from $53,000 to nearly $300 million — and could one day top $1 billion
▼ + stars: | 2024-06-04 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Pavlo Gonchar | Lightrocket | Getty ImagesAlmost five years ago, GameStop champion Keith Gill revealed a $53,000 bet in his favorite video game retailer. By the end of the jaw-dropping episode in April 2021, Gill exercised his call options position to have 200,000 common shares. Put another way: If the stock closes above $20 that day, Gill could exercise the options at $20 apiece, leaving him owning an additional 12 million shares. A total of 17 million shares would make him the fourth-biggest shareholder in GameStop, coming in behind Vanguard, BlackRock and Ryan Cohen's RC Ventures, according to FactSet. Zoom In Icon Arrows pointing outwardsThe notional value, if exercised, would be $240 million worth of stock bought at $20.

Persons: Keith Gill, Pavlo Gonchar, Gill, Michael Khouw, Khouw, Morgan Stanley's, Ryan Cohen's Organizations: GameStop, Lightrocket, Street Journal, CNBC, Vanguard, BlackRock, Ryan Cohen's RC Ventures

☆ Stocks making the biggest moves midday: Bath & Body Works, Carnival, GameStop and more
▼ + stars: | 2024-06-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading: Bath & Body Works — Shares of Bath & Body Works sank nearly 13% and headed for their worst day since 2021. Bath & Body Works expects earnings to range between 31 cents and 36 cents a share, behind a FactSet estimate of 38 cents in earnings per share. Saia — The freight company popped 6.7% after it posted higher less-than-truckload shipments per workday for April and May compared to a year earlier. Shares of BP and Exxon Mobil fell around 2.3% and 1.6%, respectively, while Diamondback Energy and Chevron shares fell nearly 1%. Stanley Black & Decker — The industrials stock fell about 3.7% after Barclays downgraded the stock to equal weight from overweight.

Persons: Keith Gill, Goldman Sachs, TZE, Goldman, Stanley Black, Decker, Julian Mitchell, Oppenheimer, Jed Kelly, —, Samantha Subin, Michelle Fox, Yun Li, Pia Singh, Lisa Han Organizations: Body, O Cruises, Carnival Cruise, GameStop, Street, Trade, Dominion Freight, Technologies, Energy, BP, Exxon Mobil, Diamondback Energy, Chevron, Barclays

☆ Stocks making the biggest moves premarket: GameStop, Stericycle, MarineMax, Paramount and more
▼ + stars: | 2024-06-03 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Waste Management , SteriCycle — Shares of medical waste-disposal company Stericycle jumped 16% after Waste Management agreed to buy the company for $7.2 billion. Waste Management fell 1.5%. MarineMax — MarineMax, a recreational boat and yacht services company, popped 19% on a report that OneWater Marine is in talks to buy the company for $40 a share in cash. Boston Beer Company — Shares slid 11% after Bloomberg reported that Japanese brewer and distiller Suntory denied it's in talks to buy the Samuel Adams owner. Paramount Global — Shares added more than 6% after Skydance Media revised its buyout offer for Paramount and gave nonvoting shareholders an option to cash out Paramount Class B shares at a roughly 26% premium to Friday's close.

Persons: Keith Gill, Kitty, Stericycle, —, Cava, Rubin, Blackwell, it's, Samuel Adams, Alex Harring, Brian Evans, Michelle Fox Theobald Organizations: GameStop, AMC Entertainment, AMC, Waste Management, Bloomberg, JPMorgan, Nvidia, AMD, Monday, Sunday, Bank of America, Boston Beer, Suntory, Street, Citi, Spotify, GSK, Autodesk — Autodesk, Paramount, Skydance Media Locations: Cava, Taipei, U.S, Delaware

☆ Stocks making the biggest moves midday: GameStop, Paramount, Spotify, Krispy Kreme and more
▼ + stars: | 2024-06-03 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Waste Management , Stericycle — Waste Management is buying Stericycle for $7.2 billion , the companies announced on Monday. Stericycle shares jumped nearly 15%, while Waste Management slid 4%. Spotify — The music streaming company climbed 4% following its announcement of premium subscription price increases in the U.S. in July. Lattice Semiconductor , Coherent — Lattice shares dove 11% after CEO Jim Anderson left to take the helm at Coherent, whose stock price jumped 17%. Krispy Kreme — Shares of the company rose 2% after it was upgraded to overweight at JPMorgan.

Persons: Keith Gill, Gill, Stericycle, CNBC's David Faber, Skydance, Shari Redstone, Jim Anderson, Esam, Dickinson, Edwards, Narendra Modi, Claudia Sheinbaum, Cava, Blackwell, Krispy Kreme, Masimo, Piper, Piper Sandler, Goldman Sachs, Goldman, — CNBC's Sean Colon, Yun Li, Pia Singh, Michelle Fox, Christina Cheddar, Berk Organizations: GameStop, DeepF, AMC, New York Stock Exchange, Waste Management, Spotify, GSK, Court, Paramount Global, Lattice Semiconductor, Company, Bloomberg News, JPMorgan, Nvidia, AMD, Bank of America, Therapeutics, Autodesk Locations: U.S, Swedish, Delaware, Becton, India, Mexico

☆ GameStop shares surge 73% after Roaring Kitty reveals $116 million bet
▼ + stars: | 2024-06-03 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Shares in GameStop shot up almost 73% in pre-market trade Monday as the renewed frenzy around meme stocks shows little sign of abating. The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill — also known as “Roaring Kitty” — revealed that he had bought nearly $116 million worth of the stock. The post was the first on Gill’s Reddit account in more than three years, when social media-fueled hype around GameStop (GME) shares was in full swing. Meme stocks are shares that swing wildly in value based on their popularity among trader communities on social media rather than the companies’ fundamental characteristics. He also said he did not set out to help stoke the GameStop frenzy and instead believed the stock offered an attractive opportunity for investors.

Persons: Keith Gill —, ” —, Gill Organizations: London CNN —, GameStop, AMC Entertainment, stoke

☆ Inside China's plan for AI: shape reality and enforce its power
▼ + stars: | 2024-06-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at China's strict approach to overseeing its AI development and the threat it poses to the world. The country's history of censorship and surveillance is extending to its approach to AI , writes Business Insider's Linette Lopez. AdvertisementThe CCP's plan for AI is about shaping reality and enforcing its power, according to internal documents. What to do ahead of May's jobs report. Permabull Tom Lee said it's a great time to buy stocks — shocking — with a new jobs report set to drop on Friday.

Persons: —, Kiran Ridley, Stringer, Getty, Tyler Le, Insider's Linette Lopez, Linette, chatbots, Jinping, Xie Huanchi, we've, Ken Griffin's, Permabull Tom Lee, it's, Stocks, Keith Gill, It's, Amazon's, Alyssa Powell, boomer, Gen, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett, Annie Smith Organizations: Service, Harvard, Business, Chinese Communist Party, of, People, Getty, Citadel Securities, BI, GameStop, Cloud, Prime, Apple, American Express, Research, Boomers Locations: China, Beijing, Xinhua, New York, London, Chicago

☆ GameStop's stock almost doubles premarket after Roaring Kitty reveals his $116 million stake
▼ + stars: | 2024-06-03 | by ( George Glover | ) www.businessinsider.com time to read: 1 min

GameStop shares surged ahead of Monday's opening bell after trader Keith Gill, who posts on social media under the aliases "Roaring Kitty" and "DeepFuckingValue," revealed he holds a $116 million stake in the struggling retailer. AdvertisementThe stock was up 84% in premarket trading shortly before 5 a.m. Eastern Time after an account snapshot posted on Reddit's r/SuperStonk forum revealed that Gill holds five million GameStop shares. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account?

Persons: Keith Gill, Gill Organizations: GameStop, Business

☆ Famed short seller Andrew Left is back shorting GameStop years after taking a hit during meme-stock mania
▼ + stars: | 2024-06-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Andrew Left just placed a fresh bet against GameStop shares amid its latest rally. AdvertisementAndrew Left, the famed short-seller who lost big betting against Gamestop's stunning rally in 2021, is back to shorting the meme stock amid its latest surge. Left, who also shorted Hertz and Tesla competitor Nikola in 2020, told Bloomberg he placed a bet against Gamestop stock on Monday. His latest short comes amid a surge in retail interest in GameStop. Left's firm, Citron Research, stopped publishing notes on its short bets in January 2021, around the time GameStop shares notched their all-time high.

Persons: Andrew Left, —, Nikola, Keith Gill, Kitty, Gill Organizations: GameStop, Service, Gamestop's, Bloomberg, Gamestop, Citron Research

☆ GameStop's stock surges after Roaring Kitty appears to show he has a $116 million stake
▼ + stars: | 2024-06-03 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

The trader Keith Gill, known as Roaring Kitty, seemed to show he had a $116 million position. The meme stock also surged last month after Gill broke a three-year social-media silence. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementGameStop shares surged at Monday's opening bell after the trader Keith Gill, who posts on social media under the aliases "Roaring Kitty" and "DeepFuckingValue," appeared to disclose a $116 million stake in the struggling retailer. ET after a screenshot showing five million GameStop shares was posted from Gill's account on Reddit's r/SuperStonk forum.

Persons: Keith Gill, Kitty, Gill, — Organizations: GameStop, Service, Business

☆ GameStop Stock Surges Again on Social Media Buzz
▼ + stars: | 2024-06-03 | by ( Michael J. De La Merced | More About Michael J. De La Merced | ) www.nytimes.com time to read: +1 min

It was GameStop’s second major rally in as many months, seemingly prompted by social media buzz. Monday’s surge was driven by a screenshot uploaded to Reddit on Sunday by the account associated with Mr. Gill, after more than three years of inactivity. The market data provider Unusual Whales posted that there had been a spike in trading for those options. Adding fuel to the rally was a post to the X account associated with Mr. Gill that featured an image of a reverse card from Uno, the card game. Followers largely interpreted the picture — in line with the cryptic memes that punctuated Mr. Gill’s social media posts in 2021 — as a rallying cry to bolster GameStop’s stock price, which had fallen after a Roaring Kitty-inspired spike last month.

Persons: Keith Gill, Kitty, Gill, — Organizations: GameStop, Uno

☆ E-Trade is debating whether to ban meme stock star Keith Gill from its platform, the WSJ reports
▼ + stars: | 2024-06-03 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

E-Trade is having internal discussions about whether to ban Keith Gill — the meme stock trader who just disclosed a big position in GameStop — from the trading platform over concerns regarding potential market manipulation, the Wall Street Journal reported Monday. The brokerage, owned by Morgan Stanley , hasn't reached a decision yet, the Journal said, citing people familiar with deliberations inside the firm. GameStop shares shot up early Monday after Gill, who goes by "DeepF------Value" on Reddit, posted a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options. The meme stock mania in 2021 led to a series of congressional hearings, including testimony by Gill, around brokers' practices and gamifying retail stock trading. Gill also faced several class action lawsuits, including one alleging that he pretended to be a novice trader despite being a licensed professional.

Persons: Keith Gill, Morgan Stanley, hasn't, Gill, DeepF, Morgan, May Gill Organizations: GameStop, Wall Street, CNBC, MassMutual

☆ 'Roaring Kitty' post seems to show trader held onto giant GameStop stake after Monday's rally
▼ + stars: | 2024-06-03 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Keith Gill, known on Reddit under the pseudonym DeepF-------Value and as Roaring Kitty, is seen on a fragment of a youtube video displayed on a smartphone screen in front of GameStop logo. Meme stock leader Keith Gill, who's behind GameStop 's recent roller-coaster ride, appeared to hold onto his big position in the video game retailer even after Monday's big rally. He still owned 5 million shares of GameStop and 120,000 call options with a strike price of $20 that expire on June 21, the screenshot showed. The post on Reddit's r/SuperStonk forum could not be independently verified by CNBC. Shares of GameStop climbed about 4% in extended trading following his latest Reddit post.

Persons: Keith Gill, who's, Gill Organizations: GameStop, CNBC

☆ GameStop shares surge as ‘Roaring Kitty’ trader posts account showing $116 million position
▼ + stars: | 2024-06-02 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Meme stock GameStop is rallying again on speculation Keith Gill, the man who inspired 2021's epic short squeeze, could currently have a huge position in the video game retailer. Gill, who goes by DeepF------Value on Reddit and Roaring Kitty on YouTube and X, reappeared Sunday night, posting a screenshot of what could be his portfolio holding a significant amount of GameStop common shares and call options. The Reddit trading crowd's favorite trader holds 5 million shares of GameStop worth $115.7 million as of Friday's closing price, according to the account snapshot posted on Reddit's r/SuperStonk forum. The account also showed a position of 120,000 call options in GameStop with a strike price of $20 that expire on June 21st that were purchased for about $5.68 each. GameStop shares closed Friday at $23.14.

Persons: Keith Gill, Gill Organizations: GameStop, DeepF, YouTube, CNBC

☆ The Big Number: $48.75
▼ + stars: | 2024-05-24 | by ( J. Edward Moreno | ) www.nytimes.com time to read: 1 min

But just as quickly as the price shot up, it plunged. GameStop shares closed at $18.32 on Thursday, down more than 60 percent from their peak. In just a little over a week, much of the billions of dollars in market value that the company had gained was lost. GameStop’s wild ride can be traced to Keith Gill, the trader known as “Roaring Kitty,” who returned to social media on May 12 after a nearly three-year hiatus.

Persons: Keith Gill, ” Organizations: GameStop

☆ Options traders increased bets on GameStop weeks before its price spiked, setting up for gains near 1,000%. Here's the strategy behind it and the probability of it happening again.
▼ + stars: | 2024-05-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Those strike prices were substantially higher than the stock's price, which was trading between $10 to $16.50 that week. But what Sosnick found interesting was that the open interest went up faster for the $30 strike calls, signaling an expectation that the price would really rally this time. The table below shows the rise in open interest on strike calls of 20, 25, and 30 set to expire by May 17 and the price of the contracts. AdvertisementTom Sosnoff, the cofounder of Thinkorswim and Tastytrade, says there's probably a reasonable explanation behind the rise of open interest in GME. As for the rise of open interest on the 30-strike price, he attributes it to the cheapness of those contracts relative to the other strikes rather than a function of price prediction.

Persons: Keith Gill's, Roaring, Gill, Steve Sosnick, Sosnick, GME, Tom Sosnoff, there's, you'd, Sosnoff Organizations: GameStop, Social, Interactive, Traders Locations: GME

☆ Insider Today: Google's big shakeup
▼ + stars: | 2024-05-19 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. If you're interviewing for a job in the coming weeks, check out these five questions to ask at the end. Roaring Kitty; Getty Images; Alyssa Powell/BIThis week's dispatchInvestors go back to the futureAdvertisementStocks hit record highs. And with bitcoin hovering near record highs and the crypto winter seemingly behind us, crypto companies are on the front foot once more. Erdinhasdemir/Getty Images, Choness/Getty Images, Abanti Chowdhury/BIThe hottest jobs right now are blueWant a six-figure salary?

Persons: —, Kitty, Alyssa Powell, Keith Gill, Brandon Celi, Abanti Chowdhury, Jobs, Richard A, Rick Doblin, Sundar Pichai Mateusz, Chelsea Jia Feng Google's, shakeup, Sundar Pichai, Pichai, Adam Selipsky's Organizations: Service, Business, Dow, Consumers, Walmart, UPS, FDA, Getty Images, Google, Amazon Locations: Ukraine, East, Silicon

☆ Biden’s tariffs on Chinese imports are boosting these beaten-down stocks
▼ + stars: | 2024-05-17 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Beaten-down clean energy stocks have rallied this week. The iShares Global Clean Energy exchange-traded fund, which tracks sectors from renewable electricity to semiconductors to solar energy, has gained roughly 3%. Plug Power shares have climbed 33%, Enphase Energy shares have gained 8% and NextEra Energy shares have added 4%. Some investors warn that though the tariffs could continue boosting clean energy stocks, the recent rally isn’t driven by just improving fundamentals. Damaging hacks expose the weak underbelly of America’s health care systemA pair of recent ransomware attacks crippled computer systems at two major American health care firms, disrupting patient care and exposing fundamental weaknesses in the US health care system’s defenses against hackers, reports my colleague Sean Lyngaas.

Persons: New York CNN — It’s, Joe Biden, CNN’s Kayla Tausche, ”, Steve Sosnick, Roaring Kitty, Keith Gill, Dow, Nicole Goodkind, stoking, Gary Pzegeo, ” Read, Sean Lyngaas, cybersecurity, ” Joshua Corman, Sen, Ron Wyden Organizations: CNN Business, Bell, New York CNN, Clean Energy, Enphase Energy, NextEra Energy, Biden, Federal Reserve, Interactive Brokers, CNN, GameStop, AMC Entertainment, Roaring, Dow Jones Industrial, Nasdaq, Markets, Bureau of Labor Statistics, CIBC Private Wealth, “ Industry, Oregon Democrat Locations: New York, China

☆ GameStop shares fall 20% after it files to sell additional stock, says first quarter sales dropped
▼ + stars: | 2024-05-17 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

GameStop shares tumbled more than 20% premarket Friday after the video game retailer said it plans to sell additional shares and reported preliminary results that showed a drop in first-quarter sales. In a new regulatory filing, the video game retailer said it will sell up to 45 million class A common shares in an at-the-market offering. The sale comes after GameStop shares surged earlier this week in a brief revival of the meme stock trade. Meanwhile, in a separate statement, GameStop said it now expects net first-quarter sales in the range of $872 million to $892 million, down from around $1.24 billion in the same quarter last year. GameStop's first-quarter net loss is expected to be between $27 million and $37 million, narrower than a net loss of $50.5 million in the year-earlier period.

Persons: FactSet, GameStop's, Keith Gill Organizations: GameStop

☆ Reddit users are questioning if it's really Keith Gill behind the memes that sparked the latest GameStop rally
▼ + stars: | 2024-05-16 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Reddit users this week have been questioning whether Keith Gill was behind Roaring Kitty's recent social media posts. The Roaring Kitty X account started tweeting for the first time in three years on Sunday, sparking a revival in GameStop stock. Reddit users have been speculating and debating the question since Gill's @TheRoaringKitty X account made its first post in three years on Sunday. AdvertisementGill did not reply to a request for comment sent by Business Insider via his other social media accounts. I'm sure we'll the the truth of the matter of who's running the account soon enough," another Reddit user said.

Persons: Keith Gill, Kitty, —, Gill, wasn't, @SCHL0MS, Polymarket, It's, Steve Sosnick Organizations: GameStop, YouTube, Service, Lamborghini, Google, Business, Polymarket, Remilia Corporation, Remilia, Interactive Locations: @TheRoaringKitty

☆ Meme Stock Craze: the Sad Return of Roaring Kitty, GameStop, and AMC
▼ + stars: | 2024-05-16 | by ( Emily Stewart | ) www.businessinsider.com time to read: +5 min

Gill, who goes by Roaring Kitty on X and YouTube and by DeepFuckingValue on Reddit, was at the center of the 2021 GameStop saga. Shares of AMC, GameStop's fellow meme stock, surged by nearly 80% on Monday and 30% on Tuesday. What's changed is Roaring Kitty is tweeting, and not even really about a company. If you bought GameStop or AMC shares in 2021, it might not be a bad time to consider selling some to break even. Roaring Kitty is back, and people are tossing their money into the GameStop slot machine.

Persons: Keith Gill, Gill, Roaring Kitty, DeepFuckingValue, Davids, — Gill, tweeting, hasn't, me Gill, they're, it's, Robinhood, Bitcoin, Matt Damon, Eminem, Peter Kafka, cryptocurrency, Kitty Organizations: GameStop, YouTube, Porsche, AMC, UFC Locations: Massachusetts, What's, America

☆ Interest-rate cuts could be coming this fall, adding another wrinkle to an election set to focus on the economy
▼ + stars: | 2024-05-16 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, inflation is cooling just in time for a US presidential election that will likely focus heavily on the economy . This story is available exclusively to Business Insider subscribers. The big storyThe economy and the electionAnna Moneymaker/Getty, Anna Moneymaker/Getty, Tyler Le/BISometimes, the biggest surprise is when there isn't one at all. AdvertisementOn Wednesday, Biden and Trump agreed to face off in two debates, the first coming in June . Now he has 18 direct reports, according to an internal org chart seen by Business Insider.

Persons: —, Anna Moneymaker, Tyler Le, haven't, Insider's Madison Hoff, they're, Jennifer Sor, Ed Yardeni, Jerome Powell hasn't, Powell, Donald Trump, Joe Biden, Trump, Biden, Trump's, Alyssa Powell, Keith Gill's, Jim Simons, Shaw, Goldman Sachs, David Kostin, Sameer Samat, Sundar Pichai, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Biden, White, Democratic, Renaissance Technologies, Sigma, Bloomberg, Android, Google, Microsoft, Apple, Walmart Locations: New York, London

☆ An AI agent may soon be at your beck and call, but it might cost you a bit of your privacy
▼ + stars: | 2024-05-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at Google's big event that's pitching all the ways AI agents can make our lives easier . Google I/O, the tech giant's biggest developer conference, was heavy on the rise of so-called AI agents , writes Business Insider's Hugh Langley, who was there in person. AdvertisementGoogle's faithful, old search engine got a noticeable facelift with the help of AI , writes BI's Geoff Weiss. Steven Puetzer/Getty, Tyler Le/BIThe stakes for Google are high, as nailing AI agents opens up a massive business opportunity. For AI agents to be so intuitive, they'll need access to seemingly every aspect of our lives.

Persons: —, Tyler Le, you've, OpenAI's ChatGPT, Hugh Langley, Sundar Pichai, Geoff Weiss, Hugh, Alistair Barr, Gregory Wayne, Steven Puetzer, hasn't, Alistair, Demis Hassabis, Minchillo, Keith Gill, Naz Vahid, Andy Sieg's, Noah Berger, Jia Feng, Tingting Ji, Jenny Chang, Rodriguez, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Google, Astra, GameStop, AMC Entertainment, JPMorgan, Citi, Amazon Web Services, Walmart, UPS, Nielsen, Cisco Systems, Warner Bros, Discovery Locations: New York, Dublin, London

☆ Roaring Kitty's tweet sent GameStop spiking. The company's cofounder shares his outlook on where the stock is headed and advises hedge funds on how to navigate it.
▼ + stars: | 2024-05-15 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

There's no sense in this, said Gary Kusin, the cofounder of Babbage, the company to which GameStop traces its roots. Imagine if Taylor Swift's brand or company went public, and all the Swifties bought stock, the shares would be overvalued. What Wall Street doesn't understand is that there are Swifties in the video game industry. "If I worked on Wall Street, I would find some other stocks and some other places to go; I wouldn't touch GameStop." And I believe that's exactly what's ailing Wall Street right now," Kusin said.

Persons: Michael Burry, Keith Gill, Gary Kusin, Babbage, Kusin, It's, Taylor, Swifties, Shorting, doesn't, Citron, Brooks, Macy's Organizations: GameStop, Melvin Capital Management, Technology, S3 Partners

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