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☆ Stocks making the biggest moves midday: Alphabet, Boeing, AMD, Microsoft, Paramount and more
▼ + stars: | 2024-01-31 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Alphabet — Shares fell 6.3% after the company posted disappointing fourth-quarter advertising revenue. Late Tuesday, Alphabet posted beats on both top and bottom lines, but its advertising revenue of $65.52 billion fell below analysts' forecast of $65.94 billion, per StreetAccount. Starbucks — Shares fell 0.5% after the coffee giant issued disappointing forward guidance due to a boycott in the U.S. and a weaker Chinese consumer. Adjusted earnings per share for the fourth quarter came in at $3.46 versus the $3.27 expected, per FactSet. Manhattan Associates — The supply chain software provider surged 8% after fourth-quarter adjusted earnings and revenue topped analysts' estimates, per FactSet.

Persons: Byron Allen, NYCB, Tesla, Elon Musk, Roth, Morgan Stanley, SoFi, Stryker, Genuity, —, Alex Harring, Samantha Subin, Sarah Min, Jesse Pound, Lisa Kailai Han, Michelle Fox, Pia Singh Organizations: Boeing, Paramount, AMD, Microsoft, Starbucks, New York Community Bancorp, Bank, Technologies, Rockwell, —, Wall Street, Revenue, Manhattan Associates Locations: U.S, Delaware, Georgia

☆ Take a look at how the market hinges on solid earnings from the 'Magnificent 7' this quarter
▼ + stars: | 2024-01-30 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Six of the Magnificent Seven companies — Alphabet , Apple , Amazon.com , Meta Platforms , Microsoft and Nvidia — are set to be the top six companies driving year-over-year earnings growth in the fourth quarter, Butters noted. Without them, earnings in the other 494 other S & P 500 companies are set to have fallen by 10.5%. And, taken as a whole, S & P 500 earnings are tracking to have eased 1.4% in the quarter. "Are companies in the 'Magnificent 7' ... expected to drive earnings higher for the S & P 500 for the fourth quarter?" In the first quarter of 2024, Alphabet, Amazon, Meta Platforms and Nvidia are projected to report year-over-year earnings growth of almost 80%.

Persons: John Butters, Butters, Dave Sekera, Sekera, FactSet's John Butters Organizations: FactSet, Microsoft, Nvidia, Apple, Morningstar Research Services Locations: U.S

☆ Focused Cuts and Fewer Layers: Tech Layoffs Enter a New Phase
▼ + stars: | 2024-01-30 | by ( Mike Isaac | ) www.nytimes.com time to read: +1 min

Amazon, Google and Microsoft also cut tens of thousands of workers. And the companies — including X, formerly known as Twitter, which has chopped nearly 80 percent of its staff since late 2022 — continued operating. And a month into 2024, tech companies have entered a new phase of cost cutting. After last year’s widespread layoffs, the largest firms — including Amazon, Google and Microsoft — have in recent weeks made smaller, targeted job trims while focusing on fewer projects and shifting resources to key products such as artificial intelligence. Some tech start-ups — such as Flexport, Bolt and Brex — have slashed more deeply to stave off potential extinction.

Persons: Mark Zuckerberg, — Organizations: Meta, Google, Microsoft

☆ Stocks making the biggest moves after hours: Microsoft, Alphabet, Starbucks, AMD and more
▼ + stars: | 2024-01-30 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Electronic Arts — The stock declined 3.3% after its fiscal third-quarter revenue came in below estimates. Google ad revenue came in at $65.52 billion, short of analysts' expectations for $65.94 billion, per StreetAccount. Starbucks' fiscal first-quarter adjusted earnings came in at 90 cents per share on revenue of $9.43 billion. This fell short of analysts' expectations for 93 cents in earnings per share and revenue of $9.59 billion, per LSEG. Revenue came in at $194 million, reflecting a 53% increase from a year earlier.

Persons: Elon Musk's, Richard Tornetta, Laxman Narasimhan, Stryker, Skyworks, Liam Griffin, Robert Half, FactSet, Teradyne, Darla Mercado, Scott Schnipper Organizations: Microsoft, LSEG, Electronic Arts, EA, Google, Starbucks, AMD, Powell Industries Locations: Delaware, Asia, North America, LSEG

☆ 'You are now living through Tech Bubble 2.0': A 32-year market vet warns stocks are doomed to suffer substantial losses with valuations at historic highs and the economy on the verge of recession
▼ + stars: | 2024-01-27 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

"For those of you younger than us who did not live through the Tech Bubble of the late 1990s, you are now living through Tech Bubble 2.0. As a reminder, the NASDAQ fell about 80% when that bubble burst in the mild recession of the early 2000s," Wolfenbarger said. AdvertisementThere is evidence that backs up Wolfenbarger's bubble claims, starting with fairly standard valuation measures like the Shiller cyclically-adjusted price-to-earnings ratio. While it's not as high as it was during the dot-com bubble, it's higher than it was in 1929 — and is at one of its most elevated levels in history. Bank of AmericaAs for what will finally deflate the bubble, Wolfenbarger is expecting a recession to hit the US economy.

Persons: —, Microsoft —, Jon Wolfenbarger, Merrill Lynch, Wolfenbarger, it's, America's Michael Hartnett, Louis Fed Wolfenbarger, Jeremy Grantham, Adam Karr, Orbis Investment Management Karr, It's Organizations: Service, Apple, Nvidia, Microsoft, Business, JPMorgan, ClearBridge, Tech, NASDAQ, ClearBridge Investments Bank, America's, Bank of America, Bank of America's Global, Institute for Supply Management's Manufacturing, Orbis Investment Management, Global Fund, Federal Reserve Locations: Japan

☆ Nvidia and its stock may go through an Apple-like transformation. What it would mean for investors
▼ + stars: | 2024-01-22 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +7 min

We agree wholeheartedly, having cheered Nvidia's software push for nearly a year . Software and services "Nvidia's business is evolving faster ... and software sales can help smooth out volatility," Melius analysts argued. In December, analysts at Piper Sandler also struck a bullish tone on Nvidia's software opportunity. The core of Nvidia's software strategy is DGX Cloud, an AI supercomputer accessible through a web browser, that the company rolled out in March 2023. The differentiated aspect of the DGX Cloud is it also has additional AI software and tools, such as pre-trained models, data libraries and access to Nvidia service representatives.

Persons: Jim Cramer's, OpenAI's, Piper Sandler, DGX, Melius, —, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Nvidia, Melius Research, Software, Apple, DGX, Club, Microsoft, Research, Oracle, Google, Amazon, Amazon Web Services, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Los Angeles , California

☆ Here’s where to invest $50,000 in the new year, according to the pros
▼ + stars: | 2024-01-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

The S & P 500 rose 24% in 2023, ending the year just shy of a record closing high. The highest S & P 500 target on the Street calls for 8.7% upside from Thursday's close. A fund with exposure to small and midcap semiconductor stocks is the SPDR S & P Semiconductor ETF (XSD) . Exposure to this space can be obtained through the SPDR S & P Health Care Equipment ETF (XHE) . For these investors, Bailey likes Berkshire Hathaway , calling it a counter-cyclical sitting on a ton of cash.

Persons: Larry Adam, Raymond James, Robert Kaplan, Steven Wieting, Wieting, there's, Mike Bailey, — Bailey, Bailey, They're, Berkshire Hathaway, Eli Lilly, they're, Jack Ablin, Ablin, Rowe Price Organizations: Nasdaq, Dow Jones Industrial, CNBC Pro's, Survey, National Association for Business Economics, Dallas Federal, CNBC, Bank of America, Fed, CNBC Pro, Citi Global Wealth, Nvidia, Meta, Microsoft, P Semiconductor, P Health Care, FBB Capital Partners, Corporate, Aggregate Bond, Berkshire, Essex Property Trust, Federal Realty Trust, Rowe Price Group Locations: Essex

Read previewThe recent firing and rehiring of OpenAI CEO Sam Altman has put his leadership and personality under a microscope. People who have worked closely with Altman told Business Insider the truth lies somewhere in the middle. Advertisement"The thing I loved about OpenAI is you got to be heard," a former employee told BI. Relationship with MicrosoftWhile Altman is approachable, insiders said his obsession with growing the company can make him seem terse, impatient and superior to other "big tech" companies. AdvertisementAre you a Microsoft or OpenAI employee, or someone else with information to share?

Persons: —, Sam Altman, Altman, he's, He's, OpenAI's cofounders, Altman's, Satya Nadella, There's, OpenAI, doesn't, they've, Mira Murati, Sam, that's, Ashley Stewart, Kali Hays, Darius Rafieyan Organizations: Service, Washington Post, Business, Microsoft, Google, OpenAI Locations: astewart@insider.com, khays@insider.com, drafieyan@insider.com

☆ Citi sees a big year for stocks in 2024 with S&P 500 finishing at 5,100
▼ + stars: | 2023-12-11 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

This year's broader market rally isn't over just yet, according to Citi. "We look for further S & P 500 upside in the year ahead. Citi set a year-end target of 5,100 for the S & P 500, dependent on a $245 earnings per share estimate for the index. The S & P 500 , meanwhile, is up nearly 20% in 2023. "Our top-down sector earnings modeling continues to argue for more consistent sector level growth during 2024.

Persons: Scott Chronert, Chronert, Russell, Cyclicals Organizations: Citi, Apple, Nvidia, Microsoft, Bloomberg, Federal Reserve Locations: U.S

☆ Here's where to invest $250,000 for the next 5 years
▼ + stars: | 2023-12-04 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

CNBC Pro spoke to financial advisors and investment experts to find out how they would allocate $250,000 over the next five years. Preferred Stocks: Preferred stocks have attractive yields and are depressed after two years of weak stock and bond markets — and so are set to gain if the stock market recovers, Hatfield said. Preferred stocks have characteristics of both stocks and bonds — they trade on exchanges like stocks but they have a face value and pay dividends like bonds. They are also like bonds in that when the value of the preferred stock goes down, yields rise. $30,000 to investment grade bonds: This is a conservative investment that will benefit if long-term rates rally, he said.

Persons: Jay Hatfield, Hatfield, Microsoft —, Paul Gambles, James McManus, McManus, — CNBC's Michael Bloom Organizations: CNBC, Infrastructure Capital Advisors, U.S . Preferred, Nasdaq, Nvidia, Microsoft, U.S . Federal Reserve, Family, JPMorgan Locations: U.S, Hatfield, Asia, Pacific, Europe

☆ A year after ChatGPT’s release, the AI revolution is just beginning
▼ + stars: | 2023-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Seemingly overnight, the user-friendly generative AI technology enraptured the globe. It also promised to revolutionize the future of white-collar work — so long as it didn’t cause an AI apocalypse in the process. ‘The world woke up to the AI revolution’And one year since ChatGPT’s public release, the fervor around AI is still at a fever pitch. And AI’s long-prophesied impacts to the labor market is also beginning to emerge, both inside and outside the tech industry. “Many, many, many jobs that are currently done by humans, AI will be able to do,” said Clune, the AI researcher at the University of British Columbia.

Persons: New York CNN —, Sam Altman, ChatGPT, ” Jeff Clune, hasn’t, ” Clune, ”, OpenAI’s, Jakub Porzycki, Suresh Venkatasubramanian, ” Venkatasubramanian, “ It’s, it’s, Venkatasubramanian, Clune, we’re, ChatGPT’s, OpenAI, David Paul Morris, “, CNN’s Kara Swisher, Altman, —, ” Altman Organizations: New, New York CNN, Big Tech, Tech, University of British, CNN, ChatGPT’s, Brown University, Economic Cooperation, Bloomberg, Getty, Microsoft — Locations: New York, University of British Columbia, Krakow, Poland, OpenAI, Asia, San Francisco , California

☆ Some OpenAI engineers make as much as $800,000 and were key players in Sam Altman's return
▼ + stars: | 2023-11-23 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

OpenAI reinstated CEO Sam Altman after a dayslong saga kicked off with the board firing him Friday. AdvertisementOpenAI staffers who threatened to quit this week over CEO Sam Altman's firing are making up to $800,000 per year, according to Bloomberg. AdvertisementBut tech-firm salaries don't include bonuses or stock awards, which can bring total compensation for some OpenAI engineers closer to $800,000, Bloomberg said. But despite the high demand for talent, there are aren't many people who understand the technology, so companies value these workers with high salaries as well as influence. At OpenAI, these employees played a key role in Altman's eventual rehire at the AI startup following his surprise ouster last week.

Persons: OpenAI, Sam Altman, Altman, —, Sam Altman's, OpenAI's Organizations: Bloomberg, Service, Meta, Google, Tech, The New York Times, Altman's eventual, Microsoft, Twitter Locations: OpenAI, Altman's

☆ After closed door OpenAI drama, open source AI backed by Nvidia, Eric Schmidt, could emerge winner
▼ + stars: | 2023-11-22 | by ( Rebecca Fannin | ) www.cnbc.com time to read: +5 min

The Hugging Face website on a laptop arranged in New York, US, on Thursday, Aug. 17, 2023. "We should encourage all companies to build on disruption-proof AI technology that only open source can offer." To be clear, big bets made on open source AI pre-date last Friday when news first broke of Sam Altman's removal as OpenAI CEO, and those bets include an open source AI model controlled by one dominant tech company, Meta Platforms ' Llama. Open source and AI governanceFormer Google CEO Eric Schmidt is behind Mistral AI, another open source rival to OpenAI's ChatGPT. A third open source AI startup, Poolside AI, recently pulled in $126 million co-led by French telecom and internet billionaire Xavier Niel and U.S. VC firm Felicis Ventures.

Persons: Gabby Jones, Eric Schmidt, Sam Altman, Microsoft —, Mike Gualtieri, Forrester, Marc Benioff, Delip Rao, Sam Altman's, Thomas Wolf, We've, Wolf, Linus Torvalds, Paul Drews, OpenAI's, Arthur Mensch, Mistral, Xavier Niel Organizations: Nvidia, Bloomberg, Getty Images Tech, Salesforce, Qualcomm, Microsoft, Twitter, Google, Meta, IBM, Intel, Sequoia Capital, Salesforce Ventures, Mistral, alums, Lightspeed Venture Partners, French, . VC, Felicis Ventures Locations: New York, France

☆ OpenAI ditched the only 2 women on its board. So far, it's replacing them with men.
▼ + stars: | 2023-11-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +5 min

OpenAI announced a new male-dominated board after Sam Altman won the battle to return as CEO. 'Please, more representation and balance'The departure of Toner and McCauley has put the makeup of OpenAI's new board in the spotlight. Emily Bell, a founding director of the Tow Center for Digital Journalism, wrote in a post on X : "OpenAI fires women on the board — board chair who oversaw fuck up stays." Tom Williams/Getty ImagesOne of OpenAI's main rivals also weighed in on the lack of diversity on the new board. Within the private sector, research from Crunchbase in 2022 showed that women held 16% of board seats among more than 660 companies they analyzed.

Persons: OpenAI, Sam Altman, Helen Toner, Tasha McCauley, Adam D'Angelo, —, Sam Altman's, Bret Taylor —, Larry Summers, D'Angelo, Ilya Sutskever, Altman, Toner, McCauley, Emily Bell, Summers, Jeffrey Epstein, Bell, Tom Williams, Bret, Taylor, Emad Mostaque, Vinod Khosla, OpenAI's, Angela Hoover, Andi Organizations: Service, Microsoft, Tow Center, Digital Journalism, Deloitte, Alliance for Board Diversity, Fortune, New York Times Locations: Crunchbase, San Francisco

☆ Here are the stocks — led by Microsoft — that matter most to hedge fund managers
▼ + stars: | 2023-11-22 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Many hedge funds have been skillfully navigating this year's market volatility. For investors seeking to follow the smart money, here are the stocks that mattered the most to these managers. VerityData analyzed 565 "fundamental" hedge funds that own between 10 and 300 positions each. The research firm then created a list of stocks that most frequently appear among the 10 largest holdings of those hedge funds. Other than Microsoft, the majority of the so-called " Magnificent Seven " mega-cap tech stocks — Amazon, Meta, Apple, Nvidia and Google's Alphabet — also made the list, VerityData said.

Persons: VerityData, Philippe Laffont's Coatue, Chase, Meta, Berkshire Hathaway Organizations: Microsoft, Philippe Laffont's Coatue Management, Tiger Global, Apple, Nvidia, JPMorgan, Berkshire

☆ Leaked email outlines Amazon's big plans for 'AGI,' the AI tech all of Silicon Valley is chasing
▼ + stars: | 2023-11-21 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

"I am very proud of what this organization has already delivered for Alexa and AGI," Prasad added. Amazon's AGI team wasn't launched in response to this drama. The change also follows last week's job cuts within the AGI team, as BI previously reported . The cuts were part of a broader layoff that primarily affected Amazon's Alexa team. These are the six new teams formed within the AGI unit, as per the internal email:• AGI Product: defines AGI services and engages with internal customer teams to ensure end-to-end success.

Persons: Amazon's, Rohit Prasad, Prasad, Sam Altman, that's, Altman wasn't, didn't, wasn't, Andy Jassy, AGI, It's, • Organizations: Alexa, Devices, Business, Microsoft, Google, AGI, Amazon, TV

☆ Marc Benioff is trying to use X to poach talent from OpenAI, and people are having a field day in the comments
▼ + stars: | 2023-11-21 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Salesforce CEO Marc Benioff is trying to get ahead of the race to poach OpenAI's talent. AdvertisementAfter the weekend of chaos at OpenAI, Salesforce CEO Marc Benioff is eyeing an opportunity for new talent. "Lol, like it was ever about compensation," wrote Boris Power, OpenAI's head of applied research, in response to Benioff. "Looking forward to joining Salesforce!" I was the janitor at OpenAI, total comp $1.2m base + $50m equityLook forward to joining Salesforce!

Persons: Marc Benioff, —, Salesforce's Einstein, Lol, Boris Power, ove, ould Organizations: Service, Salesforce's Locations: OpenAI, ife

☆ What OpenAI’s turmoil is really all about
▼ + stars: | 2023-11-21 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

OpenAI’s incredible upheaval — with former CEO Sam Altman caught in the middle — could have broad implications for who gets to control the future of artificial intelligence. However, Microsoft has already won the war: It is OpenAI’s most important stakeholder, with a promised $13 billion investment. In the past year, he has become the public face of the industry, and was instrumental in forging OpenAI’s partnership with Microsoft, which began in 2019. Altman, sources say, wanted to move quickly, while the OpenAI board wanted to move more cautiously. Both achievements are possible, and OpenAI’s strange structure — a nonprofit overseeing a for-profit company — was designed to contain AI from destroying humanity.

Persons: Sam Altman, OpenAI, ChatGPT, Altman, Greg Brockman, Satya Nadella, Kara Swisher, ”, Jason Schloetzer, Gil Luria, Davidson, “, Luria, ” Schloetzer, —, — CNN’s Clare Duffy Organizations: New, New York CNN, Microsoft, CNBC, CNN, Georgetown’s McDonough School of Business, D.A, Google Locations: New York, Silicon

☆ Altman hiring is a major win for Microsoft, should drive further gains for stock, analysts say
▼ + stars: | 2023-11-20 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

But even as the story continues unfolding, analysts already view Microsoft as well positioned coming out of the latest Silicon Valley spectacle. Ives, who reiterated his outperform rating and $425 price target for Microsoft, said the OpenAI board was "kids poker table and thought they won." "We view Microsoft now even in a STRONGER position from an AI perspective with Altman and Brockman at MSFT running AI," Ives wrote to clients Monday morning. Ives' price target is higher than the consensus on Wall Street of $403, according to LSEG, implying upside of slightly more than 9%. Materne has an outperform rating on the stock and a $432 price target.

Persons: Sam Altman, —, Altman, MSFT, Dan Ives, Ives, Satya Nadella, Greg Brockman, Brockman, outperforming, Oppenheimer, Timothy Horan, Bing, Horan, ISI's Kirk Materne, Materne, Michael Bloom Organizations: Microsoft, Nasdaq Locations: OpenAI, Redmond, Wash

☆ Stocks making the biggest moves midday: Microsoft, Chegg, Zoom Video, Paramount and more
▼ + stars: | 2023-11-20 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Zoom Video Communications — The software stock added nearly 2% ahead of its third-quarter earnings due after market close. The Professional Fighters League announced on Monday that it completed its acquisition of mixed martial arts brand Bellator from Paramount. Penn Entertainment — The gambling stock jumped 7% on the heels of a Bank of America upgrade to buy from neutral. Boeing — The aerospace stock jumped 4% after Deutsche Bank upgraded the shares to a buy rating from hold. Chegg — Shares of the education technology company dropped 5% following a downgrade to underweight from equal weight by Morgan Stanley.

Persons: Wells, Sam Altman, Greg Brockman, Raymond James, Morgan Stanley, Krispy Kreme, Iovance, Goldman Sachs, Terri Kelly, Kelly, Peter Grom, —, Alex Harring, Yun Li, Lisa Kailai Han, Sarah Min, Michelle Fox Organizations: Communications, FactSet, Paramount, Professional Fighters League, Bellator, Penn Entertainment, Bank of America, ESPN Bet, Spectrum Brands, Microsoft —, Microsoft, Nvidia, Boeing, Deutsche Bank, JPMorgan, Caterpillar —, HSBC, United Rentals — United Rentals, Bristol Myers, Energizer Holdings, UBS, RBC Capital Markets Locations: FactSet

☆ Stocks making the biggest premarket moves: Boeing, Bristol-Myers Squibb, Chegg, Krispy Kreme and more
▼ + stars: | 2023-11-20 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Check out the companies making the biggest moves in premarket trading: Boeing — The aerospace stock added 1.5% following an upgrade to buy from hold by Deutsche Bank. PENN Entertainment — The gambling stock popped 4.4% on the back of a Bank of America upgrade to buy from neutral. The Food and Drug Administration won't be able to meet to make a decision by the target date of Dec. 16. Krispy Kreme — Shares of the doughnut chain slipped 1.8% following a downgrade by JPMorgan to neutral from overweight. Vale — U.S.-listed shares of the Brazil-based metal and mining company added 2.6% following an upgrade by Bank of America to buy from neutral.

Persons: Sam Altman, Cantor Fitzgerald, Bristol Myers, Krispy, Krispy Kreme, Goldman Sachs, Iovance, Morgan Stanley, Terri Kelly, Kelly, —, Sarah Min, Alex Harring, Michael Bloom Organizations: Boeing, Deutsche Bank, Microsoft, PENN Entertainment, Bank of America, ESPN Bet, Myers, Drug Administration, Bristol, JPMorgan, Bros, Rentals, United Rentals Locations: Bristol, Vale — U.S, Brazil

☆ Not so fast: Sam Altman is reportedly still angling to pull a 'Steve Jobs' and return to OpenAI
▼ + stars: | 2023-11-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Sam Altman and Greg Brockman are open to returning to OpenAI — if the board step down, The Verge reports. AdvertisementEx-OpenAI leaders Sam Altman and Greg Brockman are reportedly considering going back to OpenAI — if the board members who ousted Altman decide to step down. Their apparent consideration, reported by The Verge, comes days after OpenAI ousted Altman. I never intended to harm OpenAI," Sutskever wrote in an X post on Monday. Some people are now saying Sam Altman could see a similar — though compressed — situation: being fired by the board and coming back wrapped in glory.

Persons: Sam Altman, Greg Brockman, Altman, Brockman, Ilya Sutskever, —, OpenAI, Ilya Sutskever —, Sutskever, we've, Steve Jobs, Justin Sullivan, OpenAI —, Microsoft didn't, Jobs Organizations: Microsoft, Service, Apple

☆ It's been 2 years since the Nasdaq hit a record and it's gone nowhere since
▼ + stars: | 2023-11-18 | by ( Michael Santoli | ) www.cnbc.com time to read: +7 min

The loudest investor chatter for months has insisted the heavyweights of the Nasdaq have been everything to the market in 2023. Sunday is the second anniversary of the all-time closing high in both the Nasdaq Composite and Nasdaq 100 indexes, which remain 12% and 4 % underwater even after their monster gains in recent months. It's relatively rare for the Nasdaq 100 – the most easily investable part of the Nasdaq and the one most reflective of the mega-cap dominance – to enter a two-year downturn. Only three of the Big Seven have outperformed the Nasdaq 100 over the past two years – Apple, Nvidia and Microsoft — while Meta Platforms has kept pace and Amazon, Alphabet and Tesla have lagged. Friday showed signs of outright rotation, the Russell 2000 up 1.3% versus a flat Nasdaq 100.

Persons: Invesco, Scott Chronert, we've, I've, –, Chronert, Apple's, What's, Berkshire Hathaway, Tony Pasquariello, Goldman Sachs, Russell, disinflation Organizations: Nasdaq, Sunday, QQQ, Citi, Apple, Nvidia, Microsoft, Meta, Berkshire, Fed Locations: lockstep, Berkshire, Whereto

☆ What Wall Street can expect from key Biden-Xi meeting as U.S.-China relations remain tense
▼ + stars: | 2023-11-14 | by ( Pia Singh | ) www.cnbc.com time to read: +7 min

Chinese companies, meanwhile, have accelerated in global patent holdings in the cybersecurity sector, according to a recent Nikkei report. More reassurance to Chinese investors To be sure, while these stocks continue to rally, investors in the U.S. largely remain cautious about making any trades based on expectations ahead of the Biden-Xi talks. If anything, Chinese investors could leave Wednesday with more reassurance—which China's economy desperately needs as it struggles to make a post-pandemic recovery. Chinese investors "remain concerned that the deterioration in the bilateral political relationship could have a negative impact on the Chinese economy," Matthews investment strategist Andy Rothman said. Shaun Rein of China Market Research Group told CNBC last week that the meeting "might lower down the temperature," but that he does not expect "anything meaningful" to come from it.

Persons: Joe Biden, Xi Jinping, Frederic Neumann, Neumann, Biden, Xi, Brian Gardner, Gardner, Neo Wang, Wang, Tesla, BYD, Matthews, Andy Rothman, Shaun Rein, Rein, Derek Scissors, CNBC's Organizations: HSBC, Economic Cooperation, South China Morning Post, U.S . Department of Commerce, Nikkei, Micro Devices, Intel, Nvidia, AMD, Micron, MU, Microsoft, Biden, China Market Research Group, CNBC, American Enterprise Institute Locations: China, U.S, Asia, San Francisco, Washington, Beijing, Tesla's China, Europe, South Korea, Japan

☆ Stocks making the biggest moves midday: Microsoft, Alphabet, Waste Management and more
▼ + stars: | 2023-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Microsoft posted almost 13% year-over-year revenue growth, and its Azure cloud segment saw revenue gain 29% for the quarter. Norfolk Southern — The freight railroad dropped 5.3% on the back of disappointing third-quarter earnings. General Dynamics — Shares of General Dynamics rose 4% after the defense contractor's third-quarter earnings and revenue topped estimates. The semiconductor manufacturer sees earnings per share between $1.35 and $1.57, versus the $1.76 expected by analysts polled by FactSet. The stock's third-quarter revenue also disappointed investors, coming in at $4.35 billion, versus the $4.58 billion estimated by analysts polled by LSEG.

Persons: Wells, Max, —, Lisa Kailai Han, Fred Imbert, Hakyung Kim, Yun Li Organizations: Microsoft —, Microsoft, Windows, Norfolk Southern, LSEG, Revenue, Dynamics —, Dynamics, General Dynamics, Boeing —, Deutsche Bank, . Waste Management, Texas, FactSet Locations: U.S

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