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CNBC Daily Open: Even high yields couldn’t stop tech
  + stars: | 2023-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Meanwhile, the European Commission revised its growth forecast for the European Union down from 1% to 0.8%. Only European economy to contractGermany is likely the only major European economy to contract this year, according to fresh forecasts by the European Commission. The commission predicts Germany's economy to shrink 0.4% this year; the International Monetary Fund puts that figure at 0.3%.
Persons: JPMorgan Chase, Jamie Dimon, it'd, Dimon, Cristiano Amon, Hans, Werner Sinn, Tesla Morgan Stanley's, Adam Jonas, Tesla, Jonas Organizations: CNBC, Nasdaq, Commission, European Union, JPMorgan, Qualcomm Qualcomm, Apple, UBS, European Commission, International Monetary Fund Locations: European, U.S, Ukraine, Germany, Europe
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The Nasdaq Composite rallied, buoyed by tech stocks. More than luck to surpass StarbucksAsk any American to think of the most common coffee chain, and chances are they'd mention Starbucks. A combination of its franchise model, low pricing and self-operated stores helped a coffee chain founded in 2017 surpass an established brand.
Persons: Wall, JPMorgan Chase, Jamie Dimon, it'd, Dimon, Cristiano Amon, he's Organizations: CNBC, Nasdaq, Japan's Nikkei, Garden Holdings, JPMorgan, Qualcomm Qualcomm, Apple, UBS, Starbucks, Apple Apple Locations: Munich, Germany, Asia, Pacific, U.S, Ukraine, China
If you want to see every play, look below to see where to watch Chiefs vs. Lions live streams from anywhere. Read more: How to watch NFL football without cableHow to watch Chiefs vs. Lions live stream in the USNBC is the exclusive broadcaster of this Thursday Night NFL kickoff opener. You can watch the Chiefs vs. Lions game live for free over the air using a digital antenna. Deal Hulu + Live TV Hulu + Live TV includes over 85 channels, along with Hulu's on-demand library and access to Disney Plus and ESPN+. Shop at SlingHow to watch Chiefs vs. Lions live streams from anywhereFinding NFL coverage outside of the United States can be tricky.
Persons: Jared Goff, Amon, Ra St, Brown, David Montgomery, Will Patrick Mahomes, you'll, Hulu's, ExpressVPN, NBC Peacock, CEST Organizations: NFL, Detroit Lions, Super Bowl Champion Kansas City Chiefs, Chiefs, Lions, NBC, Football, . Lions, Hulu, Disney Plus, ESPN, Hulu Fubo, Fox, CBS, Insiders, Watch Chiefs, . Chiefs, Browns, Texans, Ravens, Buccaneers, . Vikings, Panthers, . Falcons, Cardinals, Jaguars, Colts, 49ers, Steelers, Broncos, Eagles, . Patriots, Rams, Seahawks, Dolphins, . Chargers, Packers, Bears, Cowboys, . Giants, Bills, . Jets Locations: United States
Amon-Ra St. Brown had six catches for 71 yards and a score, and Lions rookie Brian Branch returned Patrick Mahomes' first pick in an opener 50 yards for another touchdown as Detroit snapped the Chiefs' eight-game Week 1 winning streak. The Lions were trying to run out the clock when Goff had a fourth-down pass near midfield batted down with 2:30 left, giving the Chiefs a chance. When it fell incomplete and Detroit took over, Montgomery ran for a first down that allowed the Lions to run out the clock. Mahomes finished with 226 yards passing and two touchdowns, despite his receivers dripping a slew of passes. He also was the leading rusher for the Chiefs, whose self-inflicted wounds proved too much to overcome.
Persons: — Jared Goff, David Montgomery, Amon, Ra St, Brown, Brian Branch, Patrick Mahomes, Goff, Kadarius Toney, Skyy Moore, Mahomes heaving, Montgomery, Mahomes Organizations: KANSAS CITY, Lions, Detroit, Super Bowl, Kansas City Chiefs, Chiefs Locations: KANSAS, Mo
Qualcomm Inc. President and CEO Cristiano Amon speaks during the company's press event for CES 2022 at the Mandalay Bay Convention Center on January 4, 2022 in Las Vegas, Nevada. The CEO of U.S. chip giant Qualcomm thinks artificial intelligence could give the smartphone market a fresh lease on life. "The [Snapdragon] Summit is going to be around incredible use cases that we're seeing from our OEMs [original equipment manufacturers] and phones and ... could create a new upgrade cycle for phones." Smartphone sales have depreciated this year as consumers have gotten a lot more cost-conscious. In 2022, global smartphone sales tumbled 11.3% year-over-year to 1.21 billion, the lowest level since 2013, according to data from market research firm IDC.
Persons: Cristiano Amon, CNBC's Arjun Kharpal, Amon Organizations: Qualcomm Inc, Mandalay Bay Convention, CES, Qualcomm, Summit, IDC Locations: Mandalay Bay, Las Vegas , Nevada
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailQualcomm CEO: Brightest spot of our diversification strategy is automotiveCristiano Amon said the silicon content in cars is increasing and that's leading to greater demand for autos-focused semiconductors.
Persons: Cristiano Amon Organizations: Qualcomm
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're bringing AI to devices — unlike Nvidia, Qualcomm CEO saysQualcomm CEO Cristiano Amon explains how the U.S. semiconductor giant is taking a different path to Nvidia when it comes to artificial intelligence.
Persons: Cristiano Amon Organizations: Nvidia, Qualcomm Locations: U.S
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSAN FRANCISCO/MUNICH, Sept 5 (Reuters) - U.S. semiconductor company Qualcomm (QCOM.O) on Tuesday said it will supply chips to power in-car infotainment systems to luxury automakers Mercedes (MBGn.DE) and BMW (BMWG.DE). Qualcomm is the leading supplier of the chips used in smartphones, a market that has slumped over the past year. Qualcomm said in a statement it will supply BMW with chips that will help power voice commands inside the car. It also said it will supply chips for the next version of the Mercedes E class models, which will be available in the U.S. in 2024. "One of the things we're very focused on the company is to find new areas for growth... automotive is one of those areas," Amon said.
Persons: Dado Ruvic, Cristiano Amon, Amon, Stephen Nellis, Victoria Waldersee, Christina Amann, Rashmi Aich, Kim Coghill Organizations: Qualcomm, REUTERS, FRANCISCO, BMW, Mercedes, Arm Holdings, SoftBank Group Corp, Thomson Locations: MUNICH, U.S, Munich, Britain, San Francisco
Until last month, Qualcomm was also the world's biggest fabless chip company. But Qualcomm CEO Cristiano Amon is betting that one day, generative AI will be in high demand off the cloud, too. Qualcomm modems are inside all iPhone models currently being made, including the next model set to come out next week. Today, Qualcomm has more than 140,000 patents. The other lawsuit came from Apple, which sued Qualcomm for roughly $1 billion for charging royalties for technologies Apple said Qualcomm had "nothing to do with."
Persons: Cristiano Amon, Amon, Chris Patrick, Irwin Jacobs, Jacobs, Nobody, Jay Goldberg, Patrick, it's, Daniel Newman, Newman, It's, Donald Trump, Stacy Rasgon, Qualcomm's Amon, CNBC it's Organizations: Qualcomm, Nvidia, Amazon Web Services, CNBC, Apple, Quality Communications, D2D, Futurum, Federal Trade Commission, Broadcom, Bernstein Research, GM, BMW, Samsung, Taiwan Semiconductor Manufacturing Co, Intel Locations: San Diego, China, Taiwan, Asia, That's, U.S, Arizona
She uses the app By Rotation to rent out dresses and accessories from her closet. For example, a three-day dress rental for a summer wedding can cost between $78 and $450, depending on the label. Hollishead has made £7,637 in rental sales, or about $9,812, on the By Rotation app in the past year. Renting my clothes is the ideal side hustle for me because I love buying dressesHollishead rents out her designer dresses on the By Rotation app. Here's how a rental on the By Rotation app works:Hollishead suggests writing thorough descriptions of each item you rent out.
Persons: Charlie Hollishead, Hollishead, Zimmermann, I've, you've, Ganni, Leslie Amon, Charlotte Simone Organizations: Service, Ascot Locations: London, Wall, Silicon
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Persons: Dow Jones Locations: israel, germany, ukraine
It then went public in 2021 through a special purpose acquisition company, or SPAC, and is looking to establish deep sea mining as a business. "Voices against deep sea mining have never been so loud — from the fishing sector to financiers, indigenous peoples, scientists and big business." In addition, the findings of the study do not mean that Benchmark is endorsing deep sea mining, she added. Deep sea mining won't replace land-based mining, but rather will simply add another source of minerals, she said in March. Regardless, Singh says, there is a lot of work yet to be done by members of the council to establish regulations before any deep sea mining commences.
Persons: Gerard Barron, Carolyn Cole, it's, Amon, That's, Louisa Casson, Charlotte Selvey Miller, Miller, that's, Barron, Kannah, Pradeep Singh, It's, Singh, Allseas, Organizations: The Metals Company, Los Angeles Times, Authority, ISA, Metals Company, Maersk, CNBC, Greenpeace, Company, Benchmark Mineral Intelligence, Benchmark, Democratic, PT Vale Indonesia, . Geological Survey, Metals, Mining, Darton Commodities, Afp, Getty, International Union for Conservation of Nature Locations: Clarion, San Diego, Norway, Mexico, United Kingdom, Texas, Canada, Indonesia, Russia, Democratic Republic of the Congo, Sorowako ., Amon, Kolwezi, Shabara, Congo, Pacific, Nauru, Tonga, Kiribati
Amon Cristiano, CEO of Qualcomm, speaks on "Squawk Box" at the WEF in Davos, Switzerland, on Jan. 17, 2023. Qualcomm's third-quarter earnings beat on the top line, reporting adjusted earnings per share of $1.87 versus a Refinitiv consensus estimate of $1.81 per share. Qualcomm expects earnings of between $1.80 and $2 per share on sales ranging from $8.1 billion to $8.9 billion. Analysts had been hoping for $1.91 per share earnings and $8.7 billion in revenue, according to a Refinitiv survey of analysts. Qualcomm is more exposed than most because of its heavy reliance on high-end and low-end Android phone sales.
Persons: Amon Cristiano, Ross Seymore, , Leswing, Michael Bloom Organizations: Qualcomm, Deutsche Bank Locations: Davos, Switzerland
Qualcomm reported third-quarter earnings on Wednesday that beat Wall Street expectations, but revenue and guidance for the fourth quarter came up short. Here's how the chipmaker did for the quarter ending on June 25:Earnings : $1.87 per share, adjusted, versus $1.81 per share expected by Refinitiv consensus estimates. : $1.87 per share, adjusted, versus $1.81 per share expected by Refinitiv consensus estimates. Revenue: $8.44 billion, versus $8.5 billion expected by Refinitiv consensus estimates. QCT, Qualcomm's biggest division that sells processors for smartphones, cars, and other smart devices, reported $7.17 billion in sales, down 24% on an annual basis.
Persons: Cristiano Amon Organizations: Qualcomm, Qualcomm's, Meta, Quest, San Diego, San Diego Union, Tribune Locations: Las Vegas , Nevada, China, QCT
REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter sales below market expectations on Wednesday and said it would likely cut jobs as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company estimated fourth-quarter revenue of $8.1 billion to $8.9 billion, while analysts polled by Refinitiv expected $8.70 billion. Qualcomm forecast a fourth-quarter adjusted earnings range with a midpoint of $1.90, in line with analysts' consensus estimate of $1.91 per share according to Refinitiv data. It forecast adjusted fourth-quarter earnings per share of $1.80 and $2, compared to estimates of $1.91. The automotive sector was a bright spot as Qualcomm seeks to diversify beyond smartphone chips.
Persons: Dado Ruvic, Akash Palkhiwala, Palkhiwala, Refinitiv, Cristiano Amon, MediaTek, Apple, Bob Bruggeworth, NXP, Amon, Kinngai Chan, Chavi Mehta, Cherney, Stephen Nellis, Arun Koyyur, Richard Chang Organizations: Qualcomm, REUTERS, Huawei, Philadelphia, Semiconductor, SOX, Apple, Summit, U.S, Thomson Locations: San Diego , California, China, U.S, Bengaluru, San Francisco
REUTERS/Dado Ruvic/IllustrationAug 2 (Reuters) - Qualcomm (QCOM.O) forecast fourth-quarter revenue below market expectations on Wednesday as consumer spending on gadgets like smartphones remained stubbornly weak amid slowing global economic growth. The company expects fourth-quarter revenue of $8.1 billion to $8.9 billion. Qualcomm rival MediaTek last week warned that customers are "cautious" with their purchases due to tepid end-user demand. Revenue at Qualcomm's mainstay handset chip business fell 25% to $5.26 billion in the third quarter and adjusted revenue of $8.44 billion missed estimates of $8.50 billion. It forecast adjusted fourth-quarter earnings per share in the range of $1.80 and $2, compared to estimates of $1.91.
Persons: Dado Ruvic, Cristiano Amon, Chavi Mehta, Stephen Nellis, Arun Koyyur Organizations: Qualcomm, REUTERS, MediaTek, Revenue, Thomson Locations: China, Bengaluru, San Francisco
She uses the app By Rotation to rent out dresses and accessories from her closet. For example, a three-day dress rental for a summer wedding can cost between $78 and $450, depending on the label. Hollishead has made £7,637 in rental sales, or about $9,812, on the By Rotation app in the past year. Renting my clothes is the ideal side hustle for me because I love buying dressesHollishead rents out her designer dresses on the By Rotation app. Here's how a rental on the By Rotation app works:Hollishead suggests writing thorough descriptions of each item you rent out.
Persons: Charlie Hollishead, Hollishead, Zimmermann, I've, you've, Ganni, Leslie Amon, Charlotte Simone Organizations: Service, Ascot Locations: London, Wall, Silicon
It’s the first part of the multi-pronged judicial overhaul plan to get to a final vote in the Knesset, and could be voted into law in on Monday evening. The reasonableness bill, backed by Netanyahyu’s coalition government, would strip the Supreme Court of the power to declare government decisions unreasonable. Other elements of the judicial overhaul would give the coalition government more control of the appointment of judges, and would remove independent legal advisors from government ministries. Those bills have not advanced as far in the legislative process at the reasonableness bill. Halevi’s letter comes after more than 1,000 Israel Air Force reserve officers vowed to stop volunteering if the judicial overhaul bill passes.
Persons: Jerusalem CNN —, Benjamin Netanyahu, Netanyahu, 5aET, Netanyahu ‘, ” Netanyahu, , Amir Levy, Yair Amon, , Herzi Organizations: Jerusalem CNN, Washington DC, Sunday, Netanyahyu’s, Israel Bar Association, Bar Council, Association, Tel Hashomer Hospital, CNN, Israel Defense Forces, Israel Air Force Locations: Jerusalem, Washington, Tel, Israel, Tel Aviv
Meta and Qualcomm team up to run big A.I. models on phones
  + stars: | 2023-07-18 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
But the AI boom has largely missed the companies that make leading edge processors for phones and PCs, like Qualcomm. The announcement on Tuesday suggests that Qualcomm wants to position its processors as well-suited for A.I. If large language models can run on phones instead of in large data centers, it could push down the significant cost of running A.I. Qualcomm will make Meta's open-source Llama 2 models available on Qualcomm devices, which it believes will enable applications like intelligent virtual assistants. Doing this will allow researchers and eventually commercial enterprises to use the AI models on their own computers without asking permission or paying.
Persons: Cristiano Amon, OpenAI's, Bard Organizations: Qualcomm, Milken Institute Global Conference, Calif, Meta, Nvidia Locations: Beverly Hills
The executives plan to hold meetings with U.S. officials to talk about market conditions, export controls and other matters affecting their businesses, one of the sources said. Intel and Qualcomm declined to comment, and officials at the White House did not immediately return a request for comment. The sources said other semiconductor CEOs may also be in Washington next week. The chip industry has been warmly received in Washington in recent years as lawmakers and the White House work to shift more production to the U.S. and its allies, and away from China. Many U.S. chip firms get more than one-fifth of their revenue from China, and industry executives have argued that reducing those sales would cut into profits that they reinvest into research and development.
Persons: Arnd, Biden, Pat Gelsinger, Cristiano Amon, Andrea Shalal, Stephen Nellis, Karen Freifeld, Chris Sanders, Edmund Klamann Organizations: Intel Corporation, REUTERS, Intel Corp, Qualcomm Inc, Intel, Qualcomm, White, Huawei Technologies Co, Reuters, Huawei, Nvidia, Nvidia Corp, Thomson Locations: Davos, Switzerland, Washington, China, U.S, Beijing, Many U.S, San Francisco, New York
"He would know people's weaknesses and what they wanted and somehow always have something to offer," a former close friend said. Another close friend said Mickum once gave her a $1,000 loan "within minutes" when she needed it because of a credit-card crisis. He never "let the truth get in the way of a good story," a former close friend said. Hermès bags, like the Birkin and the Kelly, have always been symbols of unattainable luxury. There wasn't even a dust bag; Mickum claimed his mom's assistant would drop it off later.
Persons: George Mickum strode, Carlyle, Patty Hearst, He'd, Mickum, Birkin, swilling, Patty's, Gillian Hearst, Mr, George Mickum, Gillian Hearst's, George, Sally Painter, who'd, Peter Davis, Jackie O, Barbara Walters, Alessia Fendi, influencer Hannah Stella, Nick Hissom, Steve Wynn, Hearst, they'd, Prince Charles, Anna Delvey, Patty Hearst's, Rumor, he'd, wasn't, Met Breuer, Peter Poopat, George Santos, Trinity, Elisabeth Thieriot, Thieriot, Hermes, , Painter, Paul Mickum, George Mickum III, Sally, Painter's, Poopat, PJ Pascual, Patrick McMullan, Ramona Singer, Lauren Lawrence, Lawrence, Van Cleef, Nicole Salmasi, Trudy, Mike Vitelli, Eric Schmidt, Schmidt, Eric, R, Couri Hay, They're, Astor, William Randolph Hearst, Orson Welles, Kane, Gillian's, Bill Clinton, Patty, Bernard Shaw, Gillian, Lydia —, Shaw, Maxim, Lydia, Kane we're, Christian Simonds, Pierre, Krista Corl, Dee Dee, Scott Buccheit, Naeem Delbridge, Pascual, who's, We're, buttering, Simonds, Matthew Kehoe, England, — Hearst, Delbridge, Hearst's, Mario Glen Coco, Hearsts, Astrid Stawiarz, Tiger Woods, Ernie Els, Justin Timberlake, Joe Lewis, Buccheit, Mary McCarthy, Lillian Hellman, Mickum's, Christie Grimm, Steve, Kameron Ramirez, Hissom, Ramirez, Nick, Hunt, Damien Hirst, Douglas Elliman, Harry Winston, David Fiszel, invitees, Fiszel, Darian, Winston, Martha Stewart's, Mendel minks, Vacheron Constantin, Tao, Melinda French Gates, Shawn Mendes, Bill, Hillary Clinton, Neiman Marcus, Damien Hirst's, Damien, weren't, Kelly, Alexis Clarbour, Clarbour, Paul Wharton, you've, Wharton, Sean Zanni, Michael Coste, Hannah Stella, Coste's, Stella, Scott Fitzgerald, Coste, Goodman, Courroies Birkin, didn't, Aman, Cartier, Mickum's bluster, skeptically, satchel, Clarbour's, He's, We've, Sider, Philippe, Buccheit texted Pascual, he's, Hay, Café Carlyle, Alexander Hankin, Burisma, Hunter Biden, Mickum hasn't, There's, They've, Amy X, Wang, King Charles, Tracey Amon, Amon, GEORGE MICKUM Organizations: Hearst, Blue, Potomac, Hamptons, East, Met, University of Delaware, Southampton Bathing Corporation, Fields School, Georgetown Law, DC, Town &, New York Daily News, The New York Times, Google, Carnegie, Rockefeller, Cosmopolitan, Symbionese Liberation Army, Hearst Corporation, Vogue, Society of Memorial Sloan Kettering, Stockbridge Golf, New, Tiger, Tottenham, Douglas, Martha Stewart's Hamptons, Mickum, Projects, Madison, Getty, Antibes, Nike, Rue du Faubourg Saint, Couture, US, UN, New Yorkers, Avenue Couture, Hermès, Republican, Justice Department, Blue Star, Town, New York Times Magazine Locations: Bemelmans, Clinton, York, Palm, New, London, Manhattan, Dalton, Bay, Windsor Castle, Haute, Washington , DC, New York, Baccarat, The, San Francisco, Wilton , Connecticut, Side, Wyntoon, California, Buccheit, woodsy Stockbridge , Massachusetts, Stockbridge, Bahamas, Albany, Nobu, Martha, Peking, Paris, Istanbul, St, Georgetown, China, Italy, Hermès, Amalfi Coast, du, Midtown, brunch, Rue, Central Park, Mickum, Turkey, La, Café, Ukrainian, Ukraine
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Persons: Dow Jones Locations: israel
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/netanyahu-revives-judicial-overhaul-stripped-of-most-controversial-piece-33160de
Persons: Dow Jones, netanyahu
Women often see a big advantage to doing independent work instead of having a permanent job. Around 48% made more money from their independent work in 2022, up from 40% reporting an increase in 2021. Professional services, whether they be legal, accounting, or consulting, make up a significant portion of the independent professional workforce in the US, Amon said. The report included responses from 738 completed surveys from an online research panel in March and focused on three industries: creative services, skilled technical services, and skilled professional services. A 60-year-old woman in Virginia quoted in the survey saw independent work as a way to achieve freedom and bring in more money.
Persons: , Gali, Amon, Fiverr Organizations: Service, Rockbridge Associates Locations: Fiverr, Gali Amon, Alabama, Virginia
Goldman Sachs analyzed company 10-K filings to determine the geographic revenue exposure of each stock in the S & P 500. They found a number of stocks with revenue exposure to Greater China of over 40%. If China continues to show an uneven path of recovery in the wake of its stringent Covid restrictions being lifted, these stocks could be hurt. Companies that generate a significant amount of sales from Greater China were exclusively in the chip industry, according to Goldman. Monolithic Power Systems is on the top of the list with 65% of its 2022 revenue derived from Greater China, according to Goldman.
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