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☆ Canva hires former Zoom CFO Kelly Steckelberg to run finance ahead of expected IPO
▼ + stars: | 2024-11-18 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Founded in 2013, Canva was valued recently at $32 billion, a drop from its peak of $40 billion in 2021. Canva is generating about $2.5 billion in annualized revenue and boasts 220 million monthly users. Steckelberg held financial positions at Cisco and was CEO of online dating company Zoosk before joining Zoom in 2017. Steckelberg announced her departure from Zoom in August after seven years at the company. Canva's previous finance chief Damien Singh resigned in February after the company said it was conducting an internal investigation surrounding inappropriate behavior.

Persons: Kelly Steckelberg, John Ritter, Canva, Klarna, Zoom, Steckelberg, Michelle Chang, Damien Singh Organizations: John, John Ritter Foundation, Relics, Adobe, Nasdaq, U.S . Securities, Exchange Commission, Cisco, Zoom Locations: Van Nuys , California, Austin , Texas, Sydney, Australia

☆ Market Navigator: Buy now, pay later boom
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket Navigator: Buy now, pay later boomJason Kupperberg, BofA Securities senior payments, joins 'Power Lunch' to discuss buy now, pay later stocks.

Persons: Jason Kupperberg Organizations: BofA Securities

☆ Needham upgrades Robinhood to buy, says Trump victory will boost the stock
▼ + stars: | 2024-11-18 | by ( Sean Conlon | ) www.cnbc.com time to read: +2 min

Robinhood is slated for more gains under a second Trump term, according to Needham. His $40 price target implies nearly 24% upside from Friday's close. Piper Sandler analyst Patrick Moley has also grown more bullish on the stock amid bitcoin's price surge, upping his price target by $6 to $36. Eight of 17 covering the stock have a buy or strong buy rating on the name, while the remaining ones have hold or underperform ratings. The average price target also points to 17% downside.

Persons: Needham, John Todaro, HOOD, Robinhood, Donald, Piper Sandler, Patrick Moley, Moley, bitcoin Organizations: Trump, Securities and Exchange Commission, LSEG Locations: HOOD

☆ Xiaomi Q3 revenue soars 30.5% as sales of its first electric car surge
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +1 min

GUANGZHOU, CHINA - NOVEMBER 15, 2024 - Visitors view a Xiaomi SU7 Ultra new energy vehicle at 2024 Guangzhou Auto Show in Guangzhou, South China's Guangdong province, Nov 15, 2024. Revenue came in at 92.5 billion yuan ($12.77 billion) for the quarter ended Sept. 30, beating an LSEG consensus estimate from 15 analysts of 91.1 billion yuan. The unit reported an adjusted loss of 1.5 billion yuan for the quarter, with a gross profit margin of 17.1%. During the quarter, Xiaomi maintained its position as the world's third-largest smartphone maker with shipments of 42.8 million units, up 3% and capturing 14% of the market, according to research firm Canalys. Xiaomi reported adjusted net profit climbed 4.4% to 6.25 billion yuan, versus a consensus estimate of 5.92 billion yuan.

Persons: Xiaomi Corp, Xiaomi Organizations: Show, Publishing, Getty Images, Xiaomi, Porsche, China EV, Revenue, Huatai Securities Locations: GUANGZHOU, CHINA, Guangzhou, South China's Guangdong, China

☆ Stocks making the biggest moves midday: Moderna, Roku, CVS Health, Robinhood and more
▼ + stars: | 2024-11-18 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Trump Media & Technology Group — Shares in President-elect Donald Trump's media company pulled back roughly 5%. Although the stock has been increasingly volatile in the wake of Trump's election, it has gained more than 52% in 2024. Redfin — The online real estate company's stock slipped 3.4% following a downgrade at Goldman Sachs to sell from neutral. CVS Health — Shares of the drugstore operator jumped nearly 6% following a decision to add four new board members in a deal with Glenview Capital. Moderna — Shares of the biotech company jumped more than 5% after HSBC upgraded the stock to buy from hold and said it views the stock as being undervalued.

Persons: Donald Trump's, Donald Trump, Chris Wright, Wright, Baird, Goldman Sachs, Wells, Needham, Piper Sandler, —, Alex Harring, Sean Conlon, Hakyung Kim, Pia Singh, Michelle Fox Organizations: Spirit Airlines —, Trump Media & Technology, Liberty Energy, Goldman, CVS, Glenview Capital, Aetna, U.S . Securities, Exchange, Nasdaq, Moderna —, HSBC, Warner Bros, —, National Basketball Association Locations: Wells Fargo

☆ There's trouble brewing in the chip sector outside of Nvidia, according to the charts
▼ + stars: | 2024-11-18 | by ( Katie Stockton | ) www.cnbc.com time to read: +8 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: LRCX, Katie Stockton Organizations: Nvidia, ASML Holdings, Lam Research, CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities Locations: U.S

☆ Spirit Airlines files for bankruptcy
▼ + stars: | 2024-11-18 | by ( Chris Isidore | Olesya Dmitracova | ) edition.cnn.com time to read: +2 min

New York/London CNN —Spirit Airlines filed for bankruptcy protection Monday, as mounting losses, unaffordable debt, increased competition for bargain-seeking airline passengers and the inability to merge with other airlines left it little choice. Airlines and other companies in the United States frequently file for bankruptcy and emerge stronger on the other side of the process. Most major US airlines, including the three largest — American Airlines, United and Delta — have filed for bankruptcy at some point in the past 25 years. Numerous airlines, including American, have had their assets purchased out of bankruptcy and merged with a different airline. In recent years Spirit has attempted two mergers, one with fellow bargain carrier Frontier Airlines and once with JetBlue Airways, which topped the offer from Frontier only to have its purchase blocked by a federal judge on antitrust grounds.

Persons: Delta —, Spirit Organizations: London CNN — Spirit Airlines, American Airlines, United, Delta, Frontier Airlines, JetBlue Airways, Securities and Exchange Commission, New York Stock Exchange Locations: New York, London, United States, Frontier

☆ China to front-load 2025 local government special bonds quota, report says
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +1 min

BEIJING, CHINA - SEPTEMBER 04: Buildings and vehicles are seen in the central business district during the rush hour on September 4, 2020 in Beijing, China. China's finance ministry is planning to front-load part of the 2025 local government special bonds quota to meet funding needs for major infrastructure projects, state-backed The Securities Times reported on Monday. The State Council, China's cabinet, typically determines and issues an advance allocation of new local government debt quotas for the following year in the fourth quarter, depending on economic conditions, the report said. By the end of October, local governments had issued 3.9 trillion yuan ($539 billion) in new special bonds, almost completing debt issuance under the 2024 quota, the report added. Earlier this month, China unveiled a 10 trillion yuan debt package to ease local government financing strains and stabilise flagging economic growth, as it faces fresh pressure following the re-election of Donald Trump as U.S. president.

Persons: Donald Trump Organizations: Securities Times, State Council, Ministry of Finance, Beijing Locations: BEIJING, CHINA, Beijing, China

☆ Why M&A could rebound under the Trump administration
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy M&A could rebound under the Trump administrationEric Rutkoske, Guggenheim Securities global head of M&A, joins CNBC's 'Money Movers' to discuss how M&A could change under the incoming administration, which sectors he thinks changes in policy could impact the most, and more.

Persons: Trump, Eric Rutkoske Organizations: Guggenheim Securities

☆ K-pop agencies mostly struggled in third quarter — but 2025 may bring financial recovery
▼ + stars: | 2024-11-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

JYP Entertainment's boy group Stray Kids attends the 2024 SBS Music Awards Summer in Seoul. The K-pop industry has been seeing a slowdown due to declining album sales and the inactivity of record-breaking groups such as Blackpink and BTS. Members of BTS have been serving their mandatory military service, while Blackpink only announced to reunite as a group in 2025. Streaming revenue, at least during the first half of this year, has been unable to cover the loss from album sales. For the third quarter, just Babymonster — a rookie group — and solo artist Lee Seunghoon released material.

Persons: Blackpink, Hwan, wook Lee, Jang Jeong Min, Minha Choi, Yeonghoon Kang, —, Lee Seunghoon Organizations: JYP, Imazins, BTS, SM Entertainment, JYP Entertainment, YG Entertainment, Yuanta Securities, Samsung Securities, YG, NH Securities Locations: Seoul, U.S

☆ The outlook for gold — as the granddaddy of gold ETFs turns 20
▼ + stars: | 2024-11-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

The grandaddy of gold ETFs turns 20. Today, for the first time, thanks to the World Gold Council and State Street, you are able to buy gold just like it's a stock." They could own gold mining stocks, but there was an imperfect relationship between gold and gold miners. When the gold ETF was intrduced 20 years ago, there was a very small investor base for gold. In 2014, Van Eck launched the VanEck Merk Gold ETF (OUNZ), which provides the option to redeem shares for physical gold , including gold coins and bars.

Persons: I've, George Milling, Stanley, GLD, Van Eck, George Milling Stanley, We've Organizations: New York Stock Exchange, World Gold Council, State, Investors, U.S . Equity, State Street Global Advisors, United States Oil Fund, Street Global Advisors, Street Global, World Gold, U.S ., Trump, Trust, Street, MiniShares, NYSE, SEC, Edge Locations: United States, London, India, China, Turkey

☆ Gen Z, millennial retail investors are tapping into ETFs, report finds. Here are things to watch out for, expert say
▼ + stars: | 2024-11-18 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

The survey polled 2,000 U.S. retail ETF investors in March. "The continued growth of retail investors investing in ETFs is certainly not going away," she said. watch nowMeanwhile, associated fees with ETFs tend to be much lower compared to mutual funds and other index funds. Index ETFs have a 0.44% average annual fee, half the 0.88% fee for index mutual funds, according to Morningstar. Similarly, active ETFs carry a 0.63% average fee, versus 1.02% for actively managed mutual funds, Morningstar data shows.

Persons: Oscar Wong, John Healy, Healy, He's, Young, Zers, Gen, Alison Hennessy, Hennessy, Tommy Lucas, Moisand Fitzgerald Tamayo, Lucas Organizations: Nasdaq, millennials, Morningstar Locations: New York City, U.S, Orlando , Florida

☆ Stocks making the biggest moves premarket: Tesla, Nvidia, Robinhood, Liberty Energy and more
▼ + stars: | 2024-11-18 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Spirit Airlines — Shares of the struggling airline were halted on Monday after the company filed for bankruptcy protection . The stock rose 2.8% when trading resumed. Liberty Energy , Oklo — Shares of Liberty Energy rose 5% after Trump picked CEO Chris Wright as energy secretary . Robinhood — The electronic trading platform stock gained 1% after Needham upgraded shares to buy from hold. CVS Health — Shares of the drugstore company rose 2% following a Wells Fargo upgrade to overweight from equal weight.

Persons: Tesla, Donald Trump's, Chris Wright, Wright, Baird, Barron's, Needham, Robinhood, Robert F, Kennedy Jr, —, Sarah Min, Alex Harring, Jesse Pound, Spencer Kimball, Lisa Kailai Han Organizations: Bloomberg News, U.S . Transportation Department . Spirit Airlines, Liberty Energy, Oklo, of Liberty Energy, Trump, Nvidia, Blackwell, Nasdaq, Trump's Securities, Exchange Commission, CVS, Aetna, Warner Bros, National Basketball Association, Wall Street Journal, U.S, NBA, HSBC, Moderna Locations: Wells

☆ The crypto industry plowed tens of millions into the election. Now, it’s looking for a return on that investment
▼ + stars: | 2024-11-17 | by ( Fredreka Schouten | ) edition.cnn.com time to read: +10 min

Crypto super PACs spent heavily on Republicans as well as key Democrats, including two who won open seats in the US Senate, Elissa Slotkin in Michigan and Ruben Gallego in Arizona. How Washington regulates the industry has enormous consequences for this burgeoning sector, along with the 52 million Americans who now hold digital assets. “The strategy is to have as many conversations with as many people in the Trump orbit as possible so that everyone has an understanding of what the crypto industry is most interested in,” she said. They also helped finance Fairshake, a crypto industry super PAC launched last year that was active in congressional contests. An industry super PAC spent $40 million to back to Republican Senate candidate Bernie Moreno in Ohio, who ousted three-term Democratic Sen. Sherrod Brown.

Persons: Donald Trump, Gary Gensler, Biden, Crypto, Elissa Slotkin, Ruben Gallego, Sam Bankman, “ Crypto, ” Kristin Smith, we’ll, that’s, ” Smith, ”, Smith, Dan Gallagher, Paul Atkins, Atkins, Gallagher, Bitcoin, Trump, –, It’s, Barron, Steve Witkoff, multibillionaire Elon Musk, Cantor Fitzgerald Howard Lutnick, Carlos Barria, Reuters Howard Lutnick, Cantor Fitzgerald, Marc Andreessen, Ben Horowitz –, Sergio Gor, Andreessen, “, Tyler, Cameron Winklevoss, Musk, Katie Porter, Massachusetts Sen, Elizabeth Warren, Porter, Adam Schiff, Bernie Moreno, Democratic Sen, Sherrod Brown, Brown, Moreno, Colin McLaren, ” Robert Weissman, Andreessen Horowitz, Kara Calvert, CNN’s David Wright Organizations: CNN, Trump, Securities, Exchange Commission, Industry, Crypto, Blockchain Association, SEC, Token Alliance, Liberty, Liberty Financial, of Government, Republican, Reuters, Venture, Biden, PAC, Democratic Rep, Democratic, Banking Committee, Commodities Futures Trading Commission, Cedar Innovation Foundation, Consumer, Public Citizen Locations: Washington, Michigan, Arizona, Madison, New York City, U.S, America, Bitcoin, Massachusetts, California, Ohio

For Brandon Mintz, it was the text messages and calls that started rolling in from friends and colleagues asking how high bitcoin prices could go. Strategic reserve could set off 'bitcoin space race'Under this idea, the U.S. would establish a “strategic bitcoin reserve,” like the ones it already maintains for gold and oil. A day later, Trump echoed the strategic reserve idea, though did not put a specific figure on it. On Nov. 6, Lummis posted on X in all-caps, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE,” alongside two American flags. For crypto supporters, a strategic bitcoin reserve would send a signal to markets and countries alike about the digital token’s value.

Persons: Brandon Mintz, Lee Bratcher, Donald Trump’s, Bratcher, ”, Trump’s, ’, Mintz, ” Mintz, they’ve, ‘, Ric Edelman, ” Edelman, JP Richardson, Trump, Nicholas Percoco, ” Percoco, —, Robert F, Kennedy Jr, Human Services —, Sen, Cynthia Lummis, Lummis, David Bailey, Michael Terpin, “, ” Terpin, He’s Organizations: American Blockchain, Republican, Texas Blockchain, NBC News, FBI, Trump, Securities and Exchange Commission, Commodity Futures Trading Commission, Edelman Financial Services, Liberty, Strategic, Bitcoin Conference, Department of Health, Human Services, Social Security, BTC Inc, Bitcoin Locations: Texas, Dallas, Bitcoin, bitcoin, U.S, Nashville

We had no income tax, and all we had was tariffs.”That’s why some Wall Street titans are trying to push for Bessent. Kyle Bass, a billionaire hedge fund investor at Hayman Capital Management, said Lutnick doesn’t have the composition to lead the Treasury. “Scott Bessent is eminently more qualified than Howard Lutnick to run the U.S. Treasury,” Bass posted on X Wednesday. A full week after appearing to decide on nominating Bessent, Trump interviewed him again at Mar-a-Lago. A key Cabinet player, the Treasury secretary advises the president on economic and fiscal matters, including spending and taxes.

Persons: Donald Trump, Elon Musk, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent, ” Musk, —, Bessent, ”, Kyle Bass, Lutnick doesn’t, “ Scott Bessent, ” Bass, “ Scott, I’ve, Bass, Dan Loeb, Scott Lincicome, Lutnick, “, Cheney, Lutnick —, Dick Cheney’s, George W, Tennessee Sen, Bill Hagerty, Larry Kudlow, Kudlow, Steven Mnuchin, Mnuchin Organizations: CNN, Trump, “, Wall, Fox News, titans, Hayman Capital Management, Treasury, U.S . Treasury, Cato Institute, Federal Reserve, Peterson Institute for International Economics, National Economic Council, America, Policy Institute, Fox Business, Bessent, Mar, Republicans, Treasury Department Locations: America, United States

☆ Billionaire investors were torn on Alphabet, Amazon. How they traded 5 portfolio stocks
▼ + stars: | 2024-11-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +5 min

Club holdings Alphabet and Amazon found themselves on the fault line. Battleground tech GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Third Point, the hedge fund run by Dan Loeb, sold its entire nearly $333 million position in Alphabet last quarter. Third Point trimmed its Amazon holdings by nearly 28%. A fund's holdings may very well have changed by the time the previous quarters' filings are revealed. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Wall, Dan Loeb, David Tepper, Seth Klarman, Philippe Laffont's Coatue, Bill Ackman's Pershing, Daniel Sundheim, Coatue, Donald Trump's, Eli Lilly, Jim Cramer's, Jim, Jim Cramer, Sebastien Bozon Organizations: Management, Group, D1, Amazon, Big Tech, Nasdaq, Health, D1 Capital, GE Healthcare, Jim Cramer's Charitable, CNBC, AFP, Getty Locations: 13Fs, Danaher

Mortgage rates were forecast to go down in 2025. Expectations of higher inflation and more government debt under Trump have helped mortgage rates rise in recent weeks. Why mortgage rates rose ahead of the election — and are still high nowMortgage rates went down a lot in September, with 30-year rates dropping near 6%, according to Freddie Mac. How Trump's policies could lead to higher mortgage ratesZhao says that right now it's "nearly impossible" to predict where mortgage rates will go in 2025. More supply would help moderate home price growth, improving affordability even if mortgage rates remain high.

Persons: Donald Trump's, Trump's, —, Freddie Mac, they're, Chen Zhao, Melissa Cohn, Trump, Zhao, Kamala Harris, Cohn Organizations: Trump, Service, Bond, William, Mortgage, Analytics

☆ Why Elon Musk's push to cut federal waste might succeed where others failed
▼ + stars: | 2024-11-15 | by ( Jack Newsham | ) www.businessinsider.com time to read: +8 min

Elon Musk and Vivek Ramaswamy are promising to tame the federal government. Substantial changes to the federal budget would most likely require action from legislators, though Trump transition officials are reportedly looking for ways to short-circuit Congress' power over spending. AdvertisementPast presidents have tried to cut the federal budget with mixed successThe federal government isn't a business. AdvertisementClinton took another stab at cutting federal spending and improving government processes with his National Performance Review, which was led and staffed by federal employees instead of the private sector. AdvertisementSocial Security and Medicare are the two single biggest areas of federal spending, and changing them could be politically unpopular.

Persons: Elon Musk, Vivek Ramaswamy, they've, Trump, Reagan, Clinton, Ronald Reagan, Bill Clinton, David Walker, J, Peter Grace, Grace, didn't, Musk, Ramaswamy, Thomas Schatz, hasn't, Lex Fridman's, Veronique de Rugy, —, de Rugy Organizations: Government, Department of Government, Trump, Congress, Government Waste, Grace, Office, Citizens, Securities and Exchange Commission, Federal Aviation Administration, SpaceX, Social, Cato Institute, Social Security, GOP

☆ Trump may end the $7,500 EV tax credit. Elon Musk and Tesla would reap the rewards
▼ + stars: | 2024-11-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +6 min

Tesla, the world’s largest maker of EVs, is the only automaker making a profit on its US EV sales. So if the EV tax credit goes away, the price of all EVs might come down. ‘It will only help Tesla’Musk signaled during the campaign that he would support ending the EV tax credit, even if raised the cost of Tesla purchases for American buyers. But the rest of the auto industry wants to keep the tax credit in place. He said that Tesla’s pricing and scale in the EV space “is an apples to oranges when compared to the rest of the auto industry once the EV tax credit disappears.”

Persons: Trump, Elon Musk, Donald Trump’s, Tesla, “, ”, Donald Trump, Jim Watson, Joe Biden’s, Biden, Garrett Nelson, Nelson, Dan Ives Organizations: New, New York CNN, Tesla, EV, Motors, Ford, Alliance, Automotive Innovation, Global, Real, Republican, Reuters, Trump, CNN, CFRA Research, “, Wedbush Securities Locations: New York, Butler , Pennsylvania, AFP, “, Detroit

☆ Major Trump Media shareholder ARC Global unloads nearly all DJT stock
▼ + stars: | 2024-11-15 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

The Thursday night disclosure to the U.S. Securities and Exchange Commission showed that financial firm ARC Global Investments II and its manager, Patrick Orlando, no longer own more than 5% of Trump Media stock. Trump Media reported in early September that ARC owned over 11 million shares, equating to 5.4% of the company's outstanding stock. In mid-September, a Delaware judge found that Trump Media breached an agreement with ARC and must grant it additional shares. Trump Media, which operates the Truth Social app, suffered a major selloff in late summer and by the end of September was trading near its post-merger lows. But it saw a major stock rally in October that recovered most of those losses.

Persons: Donald Trump's, Patrick Orlando, ARC's, Steven Fineman, Kamala Harris Organizations: U.S . Securities, Exchange Commission, ARC Global Investments, Trump Media, ARC, SEC, Orlando, United Atlantic Ventures, Trump, Republican Locations: Orlando, Delaware

☆ Stocks making the biggest moves midday: Palantir, Moderna, Ulta Beauty, Alibaba and more
▼ + stars: | 2024-11-15 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

Global pharma stocks — Shares of several vaccine makers declined after President-elect Donald Trump selected prominent vaccine skeptic Robert F. Kennedy Jr. as health secretary on Thursday. Shares of Moderna and Pfizer slipped nearly 9% and 5%, respectively. Ulta slipped nearly 3% after Berkshire Hathaway revealed in a regulatory filing that it had sold around 97% of its shares, nearly dissolving its position in the beauty retailer. Berkshire had just bought the stock in the second quarter, making Ulta a relatively new bet. However, the company beat expectations on both lines in the fourth fiscal quarter and issued positive guidance for adjusted earnings per share.

Persons: Donald Trump, Robert F, Kennedy Jr, Eli Lilly, Warren Buffett, Berkshire Hathaway, Ulta, — CNBC's Sean Conlon, Alex Harring, Jesse Pound, Hakyung Kim, Lisa Han Organizations: Global pharma, Moderna, Pfizer, GSK, Novo Nordisk, Nasdaq, Securities and Exchange Commission, Super, New York Stock Exchange, Corp, Berkshire, Pool Corp, AST, Materials, LSEG Locations: China, Domino's, Berkshire

☆ How Trump's selection of RFK Jr. as HHS secretary could impact the pharma sector
▼ + stars: | 2024-11-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow Trump's selection of RFK Jr. as HHS secretary could impact the pharma sectorJared Holz, healthcare sector strategist at Mizuho Securities America, and CNBC's Angelica Peebles join 'Power Lunch' discuss pharma stocks' reaction to Robert F. Kennedy Jr.'s appointment to lead the Department of Health and Human Services, what the incoming administration could mean for regulation in the sector, and more.

Persons: Jared Holz, Angelica Peebles, Robert F, Kennedy Jr Organizations: RFK Jr, pharma, Mizuho Securities America, Department of Health, Human Services

☆ Super Micro faces deadline to keep Nasdaq listing after 85% plunge in stock
▼ + stars: | 2024-11-15 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro Computer could be headed down a path to getting kicked off the Nasdaq as soon as Monday. Super Micro's stock is now equal to where it was trading in May 2022, after falling another 11% on Thursday. Super Micro could also get an extension from the Nasdaq, giving it months to come into compliance. "Given that Super Micro's accounting concerns have become more acute since Super Micro's quarter ended, its weakness could ultimately benefit Dell more in the coming quarter," Bernstein analyst Toni Sacconaghi wrote in a note this week.

Persons: Charles Liang, Ernst & Young, Bernstein, Toni Sacconaghi Organizations: Super, Computer Inc, Nasdaq, SEC, Securities and Exchange Commission, Super Micro, Nvidia, Hindenburg Research, Ernst, CNBC, Dell Locations: Taipei, Taiwan

☆ Memecoin gains will fade as crypto rally presses on. Look to these names instead, says Bank of America
▼ + stars: | 2024-11-15 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Memecoins have seen some of the biggest gains in the postelection crypto rally, but market leadership could soon flip to more "serious" tokens. "We don't expect the rally to resemble the '17 or '21 bull markets and would fade the rally for 99% of tokens in circulation with no intrinsic value," Shah said in a note this week. "We expect token prices to diverge in the near term as BTC and cash flow-generating tokens that power networks outperform meme tokens." "These tokens power blockchain operating systems, similar to Microsoft Windows, that enable developers to build applications like decentralized exchanges and Web3 platforms on top of them, creating networks with value." Avalanche's AVAX token has gained 36%, and the tokens tied to Uniswap and Polygon have gained 23% and 25%, respectively.

Persons: Memecoins, Donald Trump, Alkesh Shah, Shah, Avalanche's, Memecoin Shiba Inu, Elon Musk, Trump, ", bitcoin, –, Ethereum, It's, it's, — CNBC's Michael Bloom Organizations: Bank of America, BTC, Microsoft Windows, Uniswap, Elon, Government, Securities and Exchange Commission, SEC, Solana Locations: AVAX, Ethereum

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