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☆ Startups are ready to thrive under Trump, but some uncertainty remains in a key corner of the space
▼ + stars: | 2024-11-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.

Persons: —, Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London

☆ What Trump tariffs could mean for AI darling Nvidia
▼ + stars: | 2024-11-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Wall Street is questioning how potential tariffs on imports under a Trump administration could affect artificial intelligence darling Nvidia and the broader industry . Earlier this year, Trump accused Taiwan of stealing the chipmaking business from the U.S. and said he would impose tariffs as president. NVDA 5D mountain Shares over the last week If the administration implements tariffs, Ives believes Nvidia could gain some workaround given its integral status. That could come in the form of excluding some of its next AI chips and graphics processing units from the tariff wave expected in spring 2025. Many investors also view Trump as a proponent of AI innovation.

Persons: Trump, Kamala Harris, Joe Biden, Jensen Huang, Dan Ives, Ives, Hua Cheng, Elon Musk, Musk, Mizuho's Jordan Klein Organizations: U.S, Taiwan Semiconductor Manufacturing, NVIDIA, Nvidia, Wedbush Securities, Bank of, Blackwell Locations: Taiwan, U.S, Mirova

☆ Stocks making the biggest moves premarket: Lyft, SolarEdge, Qualcomm, Moderna and more
▼ + stars: | 2024-11-07 | by ( Brian Evans | ) www.cnbc.com time to read: +5 min

Lyft expects bookings in the current quarter of $4.28 billion to $4.35 billion, while analysts polled by FactSet expected $4.23 billion. SolarEdge — The solar panel inverter stock slipped more than 16% after a third-quarter revenue miss. SolarEdge reported revenue of $261 million, while analysts surveyed by LSEG were looking for $269 million. Third-quarter revenue surpassed Wall Street estimates, and the company expects fourth-quarter revenue of $256 million to $262 million, compared with an estimate of $260 million. Moderna — Shares rallied 7% after Moderna's third-quarter earnings and revenue topped expectations.

Persons: FactSet, SolarEdge, —, Zillow, Gilead, LSEG, Armour, Hershey, Samantha Subin, Hakyung Kim, Sarah Min Organizations: Arm, Wall, LSEG, FactSet, —, Qualcomm, Gilead Sciences, Hershey Locations: Gilead

☆ Here are Big Tech's winners and losers from Donald Trump's win, according to the market
▼ + stars: | 2024-11-07 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

Donald Trump's election win boosted tech stocks the next day, with Tesla leading the gains. Trump's past policies reshaped tech; his second term may impact Big Tech similarly. So what has the stock market told us so far about which Big Tech companies might be winners and losers during a Trump second term? Google gainsGoogle is somewhat surprising as a big stock gainer in the past two trading days. 'Shock absorber for the consumer'Slowinski highlighted other Big Tech stocks this week in his note to investors.

Persons: Donald Trump's, Tesla, —, Donald Trump, Trump, Tim Cook, Ben Thompson, TSMC, Elon Musk, Elon, Ana Altchek, Stefan Slowinski, Mark Zuckerberg, Slowinski, Thompson, Slowinsky Organizations: Big Tech, Service, Trump, Apple, Google, Alphabet, BNP, Trump's, Democratic, Meta, Amazon, Microsoft Locations: China, Taiwan, Stratechery, North America

☆ What a second Trump term means for Intel
▼ + stars: | 2024-11-06 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +5 min

He's also expressed opposition to the CHIPS Act, which Intel is counting on. Related Video How to invest in AI stocksTrump is a vocal supporter of US manufacturing, and Intel could benefit from this. Trump has been a vocal opponent of the Biden administration's CHIPS and Science Act and Intel insiders have noticed. With a Trump win, could the company miss out on a potential $8.5 billion in financial support from this legislation? Related stories"This country can become rich with the use, the proper use of tariffs," Trump told podcaster Joe Rogan recently.

Persons: Donald Trump's, He's, —, Trump, It's, Pat Gelsinger, Gelsinger, Biden, podcaster Joe Rogan, Ben Thompson, TSMC, Rogan Organizations: Intel, Service, Trump, Trump Administration, Biden, Act, Bloomberg, Commerce Department, Apple Locations: China, Taiwan

☆ Stocks making the biggest moves after hours: Qualcomm, HubSpot, Lyft, Bumble and more
▼ + stars: | 2024-11-06 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Qualcomm reported adjusted earnings of $2.69 per share on $10.24 billion in revenue. Wolfspeed — The semiconductor manufacturer tumbled 17% after missing revenue expectations and offering weak guidance for the current quarter. Wolfspeed generated revenue of $195 million in the first fiscal quarter, missing the consensus estimate of analysts polled by LSEG by $5 million. The company said to expect between $160 million and $200 million in revenue during the current quarter, under the $215 million figure expected. HubSpot saw $2.18 in adjusted earnings per share on $669.7 million in revenue, while analysts polled by FactSet forecast $1.91 in earnings per share and $647 million in revenue.

Persons: LSEG, HubSpot, Lyft, Robin, SolarEdge, Donald Trump, Bumble —, Zillow, Darla Mercado, Jesse Pound, Samantha Subin, Sean Conlon Organizations: Qualcomm, Arm Holdings, LSEG, FactSet, Technologies, Bros, Revenue Locations: FactSet, StreetAccount, LSEG

☆ Qualcomm pops 10% on chipmaker's earnings and revenue beat
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter. The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023. Qualcomm reported a 12% increase in handset chip sales to $6.1 billion, in line with FactSet estimates. The company's profitable technology licensing business, QTL, reported $1.52 billion in revenue, a 21% increase over the same period last year.

Persons: Akash Palkhiwala, Cristiano Amon Organizations: Qualcomm, Apple, Nvidia, Quest, Microsoft

☆ Nvidia briefly overtakes Apple as world's most valuable company—it began in a breakfast booth at Denny's
▼ + stars: | 2024-11-05 | by ( Ashton Jackson | ) www.cnbc.com time to read: +1 min

Chipmaker Nvidia temporarily dethroned Apple as the most valuable company in the world on Monday — another stop on the company's unlikely journey from startup to tech giant. Nvidia shares rose Monday morning, boosting its market value to $3.38 trillion by the afternoon, surpassing Apple's $3.35 trillion market cap. The news came just days after S&P Dow Jones Indices announced that Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a 30-member index that's often viewed as a key metric of the U.S. economy. By Monday evening, Apple bounced back to the top with a $3.38 trillion market value, compared to Nvidia's $3.34 trillion. "We came right here to this Denny's, sat right back there, and the three of us decided to start the company," said Huang.. "Frankly, I had no idea how to do it, nor did they.

Persons: Dow, Apple, Jensen Huang, Chris Malachowsky, Curtis Priem, Huang, DON'T Organizations: Nvidia, Apple, Dow Jones Indices, Intel, Dow Jones, CBS Locations: U.S, San Jose , California

☆ Chinese driver-assist startup announces $100 million in funding, touts 'deep cooperation' with Nvidia
▼ + stars: | 2024-11-05 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

David Kirton | ReutersBEIJING — Deeproute.ai, a Chinese startup developing autonomous driving systems, announced a $100 million funding round Tuesday from an undisclosed automaker, while emphasizing close ties with chipmaker Nvidia . The startup is also in "deep cooperation" with Nvidia, Zhou said, noting "in-depth discussions" with the chipmaker's CEO Jensen Huang. Zhou spoke on "Commercializing mass-produced autonomous driving solutions" at Nvidia's closely watched GTC AI conference in March. Those maps, used by autonomous driving companies such as Alphabet's Waymo, give a car a detailed picture of city streets. Chinese autonomous driving software developer WeRide went public on the Nasdaq last month, while robotaxi operator Pony.ai has filed for a U.S. IPO.

Persons: David Kirton, It's, Maxwell Zhou, Zhou, Jensen Huang, Deeproute, Orin, Japan Deeproute, Tesla, Elon, WeRide, Pony.ai Organizations: Reuters, Nvidia, Wall, CNBC, Huawei, Nasdaq, Industry Locations: Shenzhen, Guangdong province, China, Reuters BEIJING, Deeproute, U.S, Japan, California

☆ Consumer survey shows record-high optimism toward the stock market, even as election looms
▼ + stars: | 2024-11-04 | by ( ) www.nbcnews.com time to read: +1 min

Despite increased market volatility stemming from the U.S. presidential election on Tuesday, consumer confidence toward equities has reached its most bullish point ever. The latest Consumer Confidence survey by The Conference Board showed 51.4% of participants — the highest level on record — expect stocks to rise over the next year. This is despite rising uncertainty in the markets from the looming election, evidenced by the stock market’s inability to score further gains on Monday. The record-high consumer confidence in the stock market is “something that makes us say: hmm,” chief market technician Jonathan Krinsky wrote in a note on Sunday. Krinsky noted that bonds remain “slippery,” with the 10-year Treasury yield potentially climbing back to 4.5%.

Persons: Jonathan Krinsky, Krinsky, “, ” Krinsky Organizations: U.S, Conference, Dow Jones, Nasdaq, Treasury, Nvidia, Federal Reserve

☆ Stocks making the biggest moves midday: Nvidia, Berkshire Hathaway, Yum China and more
▼ + stars: | 2024-11-04 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

Nvidia is slated to replace rival chipmaker Intel , while paint manufacturer Sherwin-Williams will replace Dow Inc . Fox Corp. — Shares rose nearly 4% after the media company surpassed Wall Street's fiscal first-quarter estimates. That surpassed the earnings per share of $1.13 and $3.38 billion in revenue expected by analysts polled by FactSet. The New York Times — The media company's shares fell 6% after The New York Times added fewer-than-expected digital subscribers in the third quarter, even as its digital advertising sales saw its strongest growth in more than two years. The New York Times Tech Guild also announced Monday morning that it is officially on an unfair labor practice strike .

Persons: Sherwin, Williams, Berkshire Hathaway, Warren Buffett's, FactSet, Talen, Marriott, Peter Stern, Chewy, Dow, — CNBC's Michelle Fox, Lisa Kailai Han, Pia Singh, Sean Conlon, Samantha Subin Organizations: Nvidia, Dow Jones, Intel, Dow Inc, Berkshire, Energy, Federal Energy Regulatory Commission, Susquehanna, Amazon, Constellation Energy, Marriott, underperform, Bank of America, Yum China Holdings —, Fox Corp, FactSet, The New York Times, New York Times, New York Times Tech Guild Locations: Shanghai, Yum China

☆ Stocks making the biggest moves premarket: Trump Media, Talen, Nvidia, Apple and more
▼ + stars: | 2024-11-04 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

The drug is classified as a GLP-1, which could put the company in competition with Novo Nordisk and Eli Lilly. Berkshire Hathaway – Shares were marginally lower after Warren Buffett's conglomerate revealed that operating earnings totaled $10.1 billion in the third quarter . Berkshire Hathaway shares were marginally lower after operating earnings totaled $10.1 billion in the third quarter. Trump Media & Technology Group – Shares of former President Donald Trump's media company pulled back more than 3% ahead of the U.S. election on Tuesday. Shares of Intel were more than 1% lower, while Dow Inc. shares were off 0.6%.

Persons: Talen, Eli Lilly, Berkshire Hathaway, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Peter Stern, Donald Trump's, Roblox, Morgan Stanley, Jefferies, Sherwin, Williams, William, CNBC's Hakyung Kim, Brian Evans, Sarah Min, Lisa Kailai Han, Spencer Kimball, Tanaya Macheel, Michelle Fox Theobald Organizations: Energy, Federal Energy Regulatory Commission, Susquehanna, Constellation, Therapeutics, Novo Nordisk, Apple, Berkshire, –, Bank of America, Trump Media & Technology, Nvidia, Dow Jones, Intel, Dow Inc

☆ The Dow needs Nvidia to give chipmakers representation in index after Intel's plunge
▼ + stars: | 2024-11-04 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Nvidia, on the other hand, recently leapfrogged Intel as the biggest chipmaker by revenue, creating a clear one-for-one swap opportunity. With Intel being the only chipmaker in the index, the sector is underrepresented relative to its position in the economy. Nvidia positioned itself to join the Dow in May, when the company announced a 10-for-1 stock split. Amazon joined the Dow in January, giving the internet sector greater representation in the index. Meta's price of almost $562 would currently give it the heftiest weighting in the Dow, just ahead of UnitedHealth Group .

Persons: Dow Jones, Howard Silverblatt, Dow, Silverblatt, Sherwin, Williams Organizations: Intel, Dow Jones, Nvidia, Dow, Verizon, Chevron, Dow Inc, Amazon, UnitedHealth, AMD Locations: U.S

☆ What Nvidia's Dow inclusion means for the chipmaker, according to history
▼ + stars: | 2024-11-04 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors are expecting the Dow Jones Industrial Average to get a boost from the inclusion of the biggest artificial intelligence beneficiary of the last year. The 30-stock Dow has underperformed this year and last after failing to capitalize on the artificial intelligence boom that helped bolster the comparatively tech-heavy S & P 500 and Nasdaq Composite. By comparison, the S & P 500 has surged 20% in 2024, after climbing 24% last year. Nvidia shares have gained 179% this year, and last advanced 1.8% in midday trading. Meanwhile, Intel shares have tumbled more than 55% in 2024; on Monday, it was last off by another 3.5%.

Persons: Dow Jones, CFRA Research's Angelo Zino, Dow, Nvidia doesn't, Ned Davis, Zino, bullish Organizations: Dow Jones, Dow, Nasdaq, Nvidia, Ned Davis Research, Blackwell, Intel, Amazon, Walgreens, Alliance, Walgreens Boots Alliance

☆ Quantifying how much Nvidia will influence the Dow after it joins the storied average
▼ + stars: | 2024-11-04 | by ( Nick Wells | ) www.cnbc.com time to read: +2 min

What kind of influence will Nvidia have on the 30-stock index when it joins before the bell this Friday? Instead, share price determines how much a single stock can move the Dow on a daily basis. A $1 move in any Dow stock translates to roughly 6.6 points on the index. By considering both share price and historical volatility, we can estimate each stock's potential influence on the index. According to a CNBC analysis of FactSet data, Nvidia would rank as the eighth-largest influence on the Dow based on its share price and recent volatility.

Persons: Jensen Huang, Annabelle Chih, Dow, Goldman Sachs, it's Organizations: Nvidia, Bloomberg, Getty, Dow, Microsoft, Apple, Intel, CNBC Locations: Taipei, Taiwan, UnitedHealth

☆ AppLovin's 300% surge in 2024 leaves ad-tech company with big expectations for earnings
▼ + stars: | 2024-11-04 | by ( Cj Haddad | ) www.cnbc.com time to read: +4 min

AppLovin has soared 310% in 2024, beating every U.S. tech company with a market cap of at least $5 billion, according to FactSet data. The technology helps put more targeted ads on the mobile gaming apps the company owns, and works for other studios that license the software. They said the company's "real opportunity" is to catch the influx in brand advertising towards mobile gaming from more conventional channels like social media or legacy broadcasting. Because of its position in digital advertising, AppLovin faces potential competition from some of the most well-capitalized companies on the planet. In 2022, AppLovin gave up on efforts to buy gaming software developer Unity Software for $20 billion, after Unity shareholders rejected the bid.

Persons: AppLovin, Wells Fargo, FactSet . Oppenheimer, Stifel Nicolaus, Jefferies, Adam Foroughi, could've, Foroughi, mightily, Unity, LightShed's Brandon Ross Organizations: Nvidia, Revenue, FactSet, Wedbush, Google, Facebook, Apple, Orient, Unity Software, Unity Locations: BTIG, AppLovin, U.S

☆ Google's cloud outpaces rivals in third quarter as AI battle heats up
▼ + stars: | 2024-11-02 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

With Wall Street laser focused on cloud computing this week, Google outpaced its rivals in growth, a key sign for investors that the internet company is gaining traction in artificial intelligence. Amazon Web Services, which remains the market leader, grew 19% to $27.45 billion, meaning it's more than twice the size of Google Cloud but expanding about half as quickly. Second-place Microsoft said revenue from Azure and other cloud services grew 33% from a year earlier. Five of the six trillion-dollar tech companies reported results this week, with AI chipmaker Nvidia as the outlier. Google reported a 17% cloud operating margin in the third quarter, after first turning a profit last year.

Persons: Sundar Pichai, Melissa Otto Organizations: Munich, Google, Web Services, Microsoft, Nvidia, Argus Research, CNBC Locations: Hof, Munich, Germany

☆ Why all eyes are on America's fallen tech giant Intel, which is losing its spot in the Dow Jones Industrial Average
▼ + stars: | 2024-11-02 | by ( Helen Li | ) www.businessinsider.com time to read: +9 min

Nvidia will be replacing Intel in the Dow Jones Industrial Average. In the past several years, it has fallen from grace, failing to jump on the AI train in time. The S&P Dow Jones Indices said Friday that Nvidia will replace Intel on the Dow Jones Industrial Average, a blue-chip index intended to project the most relevant picture of the US economy. Habana helped launch Intel's next-generation Gaudi AI chip for businesses this year. AdvertisementEven if Qualcomm acquired Intel, it's unclear what it would do with Intel's manufacturing operations.

Persons: —, Dow, Pat Gelsinger, Stacy Rasgon, Paul Otellini, Otellini, OpenAI, Habana, Intel's, Gaudi, Rasgon, Bryan Catanzaro, Logan Purk, Edward Jones, nipping, Purk, TSMC, Dan Morgan, Morgan Organizations: Intel, Nvidia, Dow Jones, Qualcomm, Service, VMware, Bernstein Research, Apple, Reuters, Microsoft, Systems, Habana Labs, Companies, AMD, Samsung, Wall Street, Apollo Global Management, Bloomberg, Broadcom, Biden Locations: Arizona, Ohio, Nervana, Synovus

☆ Nvidia to replace Intel in Dow Jones Industrial Average
▼ + stars: | 2024-11-02 | by ( Lloyd Lee | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Nvidia is replacing Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. AdvertisementThe Sherwin-Williams Company (SHW) will also replace Dow Inc. (DOW) in the index. The Dow Jones Industrial Average, or DJIA, is made up of 30 blue-chip companies, from Amazon to Walt Disney Co., and is often used as a benchmark for the broader US economy. Now, with its entrance into the DJIA, it only underlines the mainstream acceptance of Nvidia as a market leader.

Persons: Dow, —, Sherwin, missteps, Pat Gelsinger, Jensen Huang, Jensen, Dan Ives, JPMorgan Chase, Johnson, Goldman Sachs Organizations: Nvidia, Intel, Dow Jones, Service, Williams Company, Dow Inc, DOW, Walt Disney Co, Amazon Web Services, Corporate Finance Institute, Microsoft, Walmart, JPMorgan, UnitedHealth, Procter, Gamble Company, Cola Company, Chevron Corporation, Merck, Co, Cisco Systems, McDonald's Corporation, Business Machines Corporation, IBM, American Express Company, Caterpillar, Verizon Communications, Walt Disney Company, Goldman, Honeywell International, Nike, Boeing Company, Intel Corporation, 3M Company, Travelers Companies, Dow Locations: Amazon, Silicon Valley, Susquehanna

☆ Why Nvidia replacing Intel in the Dow Jones Industrial Average matters
▼ + stars: | 2024-11-02 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Nvidia stock will replace Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia will replace Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said in a statement on Friday, in a move that underscores the growing lead the chipmaker has over other tech titans in the AI race. Nvidia is up nearly 3% in after-hours trading, while Intel is down nearly 2%Representatives for Intel and Nvidia declined to comment when reached by Business Insider. The analysis is in the statement from the Dow Jones Industrial Average. The question for Intel right now is, can they regain relevance?

Persons: Dow, Emma Cosgrove, — Organizations: Intel, Dow Jones, titans, Business, Service, Nvidia, Dow Jones Indices, Big Tech, Facebook, Apple

☆ Nvidia to edge out Intel in Dow Jones Industrial Average
▼ + stars: | 2024-11-01 | by ( Lloyd Lee | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Nvidia is replacing Intel in the Dow Jones Industrial Average, S&P Dow Jones Indices said Friday. AdvertisementNvidia is joining the Dow Jones Industrial Average, the S&P Dow Jones Indices said on Friday, replacing its rival Intel, which held the position for 25 years. AdvertisementThe Dow Jones Industrial Average, or DJIA, is made up of 30 blue-chip companies, from Amazon to Walt Disney Co., and is often used as a benchmark for the broader US economy. Since 1999, Intel has held its position on the DJIA to reflect the state of the larger semiconductor industry. AdvertisementNow, with its entrance into the DJIA, it only underlines the mainstream acceptance of Nvidia as a market leader.

Persons: Dow, —, missteps, Pat Gelsinger, Jensen Huang, Jensen, Dan Ives Organizations: Nvidia, Intel, Dow Jones, Service, Walt Disney Co, Amazon Web Services, Corporate Finance Institute Locations: Amazon, Silicon Valley, Susquehanna

☆ Intel’s getting kicked out of the Dow
▼ + stars: | 2024-11-01 | by ( ) edition.cnn.com time to read: +1 min

Intel’s shares (INTC) have declined 54% this year, making it the worst performer on the index and leaving it with the lowest stock price on the price-weighted Dow. The stock fell about 1% in extended trading on Friday, while Nvidia (NVDA) was up 1.5%. Launched in 1968, the Silicon Valley pioneer sold memory chips before switching to processors that helped launch the personal computer industry. In the 1990s, “Intel Inside” stickers turned commodity electronic components into premium products and eventually became ubiquitous on laptops. The company’s 10-for-one stock split in June also helped pave the way for its addition to the index, making its soaring shares more accessible to retail traders.

Persons: Dow, TSMC, OpenAI Organizations: CNN, Intel, Dow Jones, Nvidia Locations: chipmaking, ChatGPT

☆ Stocks making the biggest moves midday: Intel, Amazon, Boeing, Chevron and more
▼ + stars: | 2024-11-01 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

The company posted earnings of $1.88 per share, excluding items, on revenue of $52.28 billion. Analysts polled by FactSet called for adjusted earnings per share of $1.62 on revenue of $50.90 billion. Intel — Shares popped 9% after the chipmaker topped third-quarter earnings estimates and shared upbeat quarterly guidance. The company posted adjusted earnings of 17 cents per share on $13.28 billion in revenue. Chevron also returned a record of more than $7 billion to shareholders in the quarter through buybacks and dividends.

Persons: Health —, Cardinal, FactSet, Atlassian, Donald Trump, Ernst, Ernst & Young, Avis, —, Alex Harring, Brian Evans, Michelle Fox Theobald, Sean Conlon, Samantha Subin Organizations: Health, Boeing —, Intel, Amazon, Web Services, Apple —, Trump Media & Technology Group, Communications, Abbott Laboratories, Abbott, Ernst &, Avis Budget, LSEG, Chevron Locations: Europe, buybacks

☆ Nvidia to join Dow Jones Industrial Average, replacing rival chipmaker Intel
▼ + stars: | 2024-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Nvidia is replacing rival chipmaker Intel in the Dow Jones Industrial Average, a shakeup to the blue-chip index that reflects the boom in artificial intelligence and a major shift in the semiconductor industry. Intel shares were down 1% in extended trading on Friday. Nvidia shares rose 1%. Nvidia's market cap has swelled to $3.3 trillion, second only to Apple among publicly traded companies. Intel shares have fallen by more than half this year as the company struggles with manufacturing challenges and new competition for its central processors.

Persons: Jensen Huang, Sherwin Williams, Dow Jones, Dow Organizations: Nvidia, EIFO, NVIDIA, Vilhelm, Intel, Dow Jones, Dow Inc, Apple, Companies, Microsoft, Meta, Google, Dow, Amazon, Walgreens Boots Alliance, AMD Locations: Kastrup, Denmark

☆ Stocks making the biggest moves premarket: Amazon, Apple, Atlassian and more
▼ + stars: | 2024-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Apple — Shares dropped 1.6% even after the technology giant surpassed top-and-bottom line estimates for the recent quarter, and showed 6% revenue growth. Avis Budget — The car rental company slipped 1.5% after posting third-quarter earnings that fell short of Wall Street's estimates. Chevron topped Wall Street's third-quarter estimates and returned more than $7 billion to shareholders during the period through buybacks and dividends. Juniper Networks posted preliminary third-quarter earnings and revenue that topped estimates, but did not provide financial guidance for 2024, citing its pending acquisition by Hewlett Packard Enterprise . Revenue of $1.33 billion topped the FactSet estimate of $1.26 billion.

Persons: Atlassian, FactSet, Abbott, Ernst, Young, Wall, LSEG, —, Jesse Pound, Sean Conlon, Pia Singh, Sarah Min Organizations: Amazon Web Services, Apple —, Intel —, LSEG, Abbott, Boeing —, . Avis Budget, Chevron, Exxon Mobil —, Exxon, Juniper Networks, Hewlett Packard Enterprise Locations: Europe, Missouri

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