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☆ Ron Baron stands by Tesla, sees the EV maker 4-5 times bigger in 2030
▼ + stars: | 2023-09-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Ron Baron is standing by his bullish thesis on Tesla , seeing the Elon Musk-led electric vehicle maker growing as much as fivefold in the future. The Baron Capital chairman and CEO revealed that his firm has made about 20 times its investment in Tesla since he first bought the stock in 2014. Tesla is the biggest holding in Baron's oldest and biggest fund, Baron Partners Fund (BPTIX), accounting for 46% of the portfolio. "I think Tesla in the next seven years will be about four or five times as big as it is right now in the stock market," Baron said Wednesday on CNBC's " Squawk Box ." Baron Capital managed about $40 billion at the end of 2022.

Persons: Ron Baron, Tesla, Elon, Baron, I've Organizations: Baron Capital, Baron Partners Fund, SpaceX, Bucknell grad, Centers for Disease Control Locations: Tesla, Baron's, Nevada, Australia, Moderna

Microsoft logo is seen on a smartphone placed on displayed Activision Blizzard's games characters in this illustration taken January 18, 2022. The European Commission had cleared the deal in May after Microsoft agreed to license popular Activision games such as "Call of Duty" to rival game-streaming platforms. That clearance was given before Microsoft proposed the Ubisoft deal to appease the UK regulator. However, the EU antitrust watchdog has since emailed companies to ask for feedback, the sources told Reuters. An EU investigation looks unlikely, other sources said, citing the structuring of Microsoft's CMA proposal to ensure compliance with its EU remedies.

Persons: Dado Ruvic, Microsoft's, Foo Yun, Jason Neely, David Goodman Organizations: Microsoft, Activision, REUTERS, Rights, Activision Blizzard, Ubisoft Entertainment, Britain's, Markets Authority, European Commission, Ubisoft, Reuters, CMA, Thomson Locations: Rights BRUSSELS, U.S, EU

☆ CNBC Pro Talks: Planning your successful financial life from the Future Proof wealth festival
▼ + stars: | 2023-09-12 | by ( Yun Li | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks: Planning your successful financial life from the Future Proof wealth festivalCNBC Pro is live at the Future Proof wealth festival with a panel of top advisors to help you build your investment portfolio for the long term. CNBC's senior markets correspondent Bob Pisani sits down with Ritholtz Wealth Management's Ben Carlson and Morningstar's Christine Benz and Ben Johnson for groundbreaking ideas on retirement, annuities, asset allocation, tax tips and much more.

Persons: Bob Pisani, Management's Ben Carlson, Morningstar's Christine Benz, Ben Johnson Organizations: CNBC, Ritholtz

☆ Top fund managers flee emerging markets in fear of a potential global crisis, new survey shows
▼ + stars: | 2023-09-12 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Top investors are dumping emerging market equities and buying U.S. stocks at a record pace due to concerns about a potential global crisis, according to Bank of America investment strategist Michael Hartnett. The BofA Global Fund Manager Survey showed that September saw a record jump in investor allocation to the U.S., and out of emerging market securities. The shift in asset allocation stemmed from a significant decline in China growth expectations. Bank of America's survey showed none of the respondents now expect a stronger economy in China, versus 78% when polled in February. Bank of America's survey showed investors see China real estate as the No.1 source of the next global credit event.

Persons: Michael Hartnett, Hartnett Organizations: Bank of America, Global, Survey, Bank of, People's Bank of Locations: U.S, China, Beijing, People's Bank of China

☆ Stocks making the biggest moves midday: Oracle, WestRock, Apple, Advance Auto Parts and more
▼ + stars: | 2023-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Oracle — Shares dipped more than 12% a day after the software company posted disappointing earnings and revenue guidance for its fiscal second quarter. Oracle's revenue, which came in at $12.45 billion, was weaker than the $12.47 billion forecast by analysts. WestRock — The stock rose 4.8% following news that the paper and packaging company will go through with a merger with Smurfit Kappa. The Wall Street firm said shares may be oversold after the company experienced a temporary outage on its payment processor Square. Elsewhere, Morgan Stanley reiterated its overweight call on Exxon, saying the company was a top pick in its category.

Persons: WestRock, Wolfe, Baird, Goldman Sachs, Corinne Jenkins, Morgan Stanley, Yun Li, Samantha Subin, Hakyung Kim, Lisa Kailai Han, Jesse Pound, Pia Singh, Brian Evans Organizations: New York Stock Exchange, Oracle, LSEG, Smurfit Kappa, Apple —, Casey's, FactSet, Health, P Global, BBB, CVS, Bank of America, Goldman, Food, Drug, Exxon Mobil —, U.S, Texas, Exxon Locations: U.S

☆ EU antitrust regulators halt Amazon, iRobot probe, await info
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, November 15, 2022. REUTERS/Pascal Rossignol///File Photo Acquire Licensing RightsBRUSSELS, Sept 11 (Reuters) - EU antitrust regulators have delayed their investigation into Amazon's (AMZN.O) $1.7 billion acquisition of robot vacuum cleaner maker iRobot (IRBT.O) as they wait for the companies to provide requested information. "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly." The EU competition watchdog's previous deadline for its decision on the deal was Dec. 13. It has warned Amazon that the deal may reduce competition in robot vacuum cleaners and also reinforce the U.S. company's dominant position as an online marketplace provider.

Persons: Pascal Rossignol, Foo Yun Chee, Aurora Ellis Organizations: REUTERS, Rights, European Commission, Thomson Locations: Lauwin, France, Rights BRUSSELS

☆ Goldman says stock market could be choppy into year-end so buy these stocks that are good at returning cash
▼ + stars: | 2023-09-11 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The uncertainty in the economic picture could put continuous pressure on U.S. equities into the end of 2023, and investors should focus on stocks that are returning cash to shareholders, according to Goldman Sachs. "The economic growth and inflation data flow could create a choppy path for equities in the next few months," David Kostin, Goldman's head of U.S. equity strategy, said in a note to clients. Goldman is not recommending stocks that have dividend and buyback programs in place, rather than companies using cash on capital expenditures as well as research and development. The total cash return basket includes stocks like Tapestry, MGM Resorts and Lowe's. Goldman's target is well above the average forecast of 4,372 among the top 15 Wall Street strategists, according to CNBC Market Strategist Survey.

Persons: Goldman Sachs, David Kostin, Goldman, Kostin, — CNBC's Michael Bloom Organizations: MGM Resorts, CNBC Market, Survey Locations: U.S

☆ Stocks making the biggest moves midday: Tesla, Qualcomm, Meta, Moderna and more
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

Tesla — Shares of the electric vehicle maker jumped 6% after Morgan Stanley upgraded the stock to overweight from equal weight. Kenvue — Shares of the Band-Aid maker gained 3% after being upgraded by Deutsche Bank to buy from hold on Sunday. The Wall Street firm called Kenvue a high-quality company and believes the stock's slide has created an attractive entry point. Nubank – The U.S.-traded shares of the Brazilian financial firm rose nearly 6% after JPMorgan upgraded Nubank to overweight from neutral. Discovery and Paramount also traded higher on the news, rising 2.2% and 1.9%, respectively,AstraZeneca — The pharmaceutical company's shares lost nearly 3% midday Monday.

Persons: Morgan Stanley, Adam Jones, — Smucker, Alibaba, Daniel Zhang, Zhang, Nubank, Warner, Pascal Soriot, Immatics, — CNBC's Alexander Harring, Samantha Subin, Yun Li, Jesse Pound, Michelle Fox, Tanaya Macheel Organizations: Artificial Intelligence, Hostess Brands, Tenable Holdings, JPMorgan, Deutsche Bank, Alibaba Group, Wall Street, Meta, Qualcomm, Apple, Media, Disney, Charter Communications, Warner Bros . Discovery, Paramount, AstraZeneca, Reuters, Mail, Moderna —, Moderna Locations: Shanghai, U.S, Brazil

Hanoi, Vietnam CNN —President Joe Biden will arrive at Chinese leader Xi Jinping’s doorstep on Sunday with a deal in hand to draw yet another one of China’s neighbors closer to the United States. “It’s not going to be easy for Vietnam, because they’re under enormous pressure from China,” the official went on. In Vietnam, it’s not only China whose influence Biden is competing with. On Monday, Biden plans to announce steps to help Vietnam diversify away from an over-reliance on Russian arms, a senior administration official said. “I think that’s a deliberate design by the Biden administration,” said Yun Sun, the China program director at the Stimson Center.

Persons: Joe Biden, Xi Jinping’s, Biden, ”, It’s, playbook, Xi Jinping, Evelyn Hockstein, ” Biden, Modi, Xi, States ’, it’s, ratchets, aggressions, Didier Marti, “ We’re, “, Biden’s, Mao Ning, Vietnam’s, Antony J, Blinken, Trung, Patricia Kim, Le Hoai, Jake Sullivan, Sullivan, ” –, General Secreatary Nguyen, Trong, Yun Sun, ’ Organizations: Vietnam CNN, White House, Korean, Getty, Saturday, Communist Party, Xinhua, China’s, Monday, Communist Party of Vietnam's, Department of State . US Department of State, Biden, Brookings Institution, Communist, NATO, Wing, Stimson Locations: Hanoi, Vietnam, United States, Philippines, China, Beijing, New Delhi, AFP, Asia, States, Russia, Moscow, India, Brazil, South Africa, –, That’s, South China, Washington, South Korea, Helsinki, Japan, Korea, Australia, United Kingdom

☆ IPOs are heating up again. Here's why Warren Buffett thinks they are a bad investment idea
▼ + stars: | 2023-09-09 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The chief executive officer of Berkshire Hathaway , with his legendary keen eye for value, thinks that bargains are rarely found in the IPO market. 'Ridiculous' commission Both Buffett and Munger have called the underwriting fees that investment banks charge for IPOs "ridiculous," saying they inflate IPO prices. Better in auction market The investment icon likens the stock market to an auction market where extraordinary bargains pop up now and again. By contrast, the IPO market resembles a negotiated deal where cheap securities are hard to come by. "In my view — you're way more likely to get incredible bargains in an auction market.

Persons: Warren Buffett, Berkshire Hathaway, Buffett, Charlie Munger, Buffett's, Munger, Goldman Sachs, Benjamin Graham, they're Organizations: Arm Holdings, Berkshire Hathaway, Oracle, Wall, Columbia University, Berkshire, BNSF Railway, Apple, Clayton Homes Locations: Omaha, Alleghany, It's

☆ Beware of these stocks with low earnings quality that could blow up your portfolio
▼ + stars: | 2023-09-08 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

The Wall Street firm came up with its proprietary quarterly earnings quality (EQ) score, which it said is an objective way to identify potential accounting-related risk. Wolfe Research's analysis covered more than 2,000 companies and focused on the balance sheets and cash flow statements in the companies' second-quarter earnings reports. Here are some of the companies that rank the lowest on Wolfe's screen (0 is the lowest score, and 100 is the highest.) The firm said its low earnings quality basket, which includes companies with an EQ score less than 10, has underperformed the S & P 500 by 800 basis points year to date. Endeavor Group and The Trade Desk were two stocks with the lowest score in the communication services sector.

Persons: Wolfe, Armour Organizations: Federal, Wolfe Research, Endeavor Group, Hasbro, Tesla, Wyndham Hotels

☆ Stocks making the biggest moves before the bell: Kroger, DocuSign, Snowflake, Adobe and more
▼ + stars: | 2023-09-08 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

But the company posted $33.85 billion in quarterly revenue, under the $34.13 billion anticipated by analysts. Planet Labs — The satellite imagery stock slipped 2.6% in premarket trading after delivering a weaker quarterly report than expected on Thursday. DocuSign — The electric signature stock advanced 2.4% premarket on the heels of a stronger-than-expected quarterly report released Thursday. The Wall Street firm said Snowflake is in an advantageous position with "best-in-class growth rates" and is set to benefit from increased demand for artificial intelligence applications. The Wall Street firm cited First Solar's strong growth message during its investors day.

Persons: Kroger, LSEG, DocuSign, Davidson, Snowflake, Mizuho, RH —, Gary Friedman, —, Yun Li, Sarah Min, Jesse Pound, Michelle Fox, Scott Schnipper Organizations: Planet Labs, LSEG, Deutsche Bank, Mizuho, Gilead Sciences, Bank of America Locations: Gilead

☆ Hedge fund investor Dan Niles says Apple is now his largest single stock short
▼ + stars: | 2023-09-07 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Widely followed investor Dan Niles revealed Thursday he dumped his Apple shares and started betting against the tech giant in a significant way. "Sold $AAPL & now our largest single stock short," the founder and senior portfolio manager of the Satori Fund said in a post on X , formerly known as Twitter. The hedge fund manager bought Apple on Aug. 18 and started selling Wednesday, he said. Shares of Apple were down for a second day in a row, bringing losses this week to more than 6%. AAPL YTD mountain Apple Secondly, Niles said Huawei's resurgence could pose a threat to Apple.

Persons: Dan Niles, Satori, Niles Organizations: Apple, Twitter, Bloomberg News, Street Journal, Revenue Locations: China, Shenzhen

“We hope this G20 summit will show that the world’s major economies can work together even in challenging times,” US national security adviser Jake Sullivan said this week. The institutions, created in the aftermath of World War II, have long funded education, public health and infrastructure programs in developing countries. Sullivan said this week the World Bank reforms were “not against China,” noting Beijing is a shareholder in the bank. “The biggest shareholders of the World Bank are all sitting around the G20 table. The contrast between Biden’s presence at the summit – which includes a number of developing countries – and Xi’s absence will also give the American president an opportunity to highlight the US’ commitment to the developing world.

Persons: Joe Biden, Biden, Biden’s, Jake Sullivan, Narendra Modi, Modi, India hasn’t, Sullivan, We’ve, ”, Yun Sun, Stimson, –, – Biden, “ We’ve, Xi, Putin, China –, ” Sullivan Organizations: New, New Delhi CNN, ”, Indian, West, World Bank, Bank, Initiative Locations: New Delhi, Russia, China, Ukraine, Beijing, United States, India, Ukraine –, Bali

Afterward the summit, Biden and Vietnamese General Secretary Nguyen Phu Trong will meet in Hanoi and are expected to announce plans to tighten economic cooperation. The Chinese economy is weighed down by a property bubble, local government debt, high youth unemployment and a broader inability to rebound as expected from pandemic lockdowns. But so far this year, the U.S. economy has outperformed expectations as the Chinese economy has underperformed. Still, China’s economic challenges could create more geopolitical risk as economics can often inform national security strategies. At an August fundraiser in Utah, Biden called China's economy a “ticking time bomb.”“When bad folks have problems, they do bad things,” the president said.

Persons: Joe Biden, Biden, Xi Jinping, Li Qiang, Nguyen Phu Trong, ”, Colleen Cottle, Gina Raimondo, Raimondo, ” Raimondo, ” Biden, Xi, Kamala Harris, Jake Sullivan, ” Sullivan, Yun Sun, Narendra Modi, Modi, Tracy Brown Organizations: WASHINGTON, Group, World Bank, International Monetary Fund, Biden, South China, White, Associated Press, U.S, Association of Southeast Asian Nations, White House, IMF, Stimson, Indian Locations: India, Vietnam, United States, China, White, New Delhi, Hanoi, Malaysia, Philippines, Taiwan, Brunei, South, Washington, U.S, Beijing, Jakarta, Indonesia, The U.S, Pakistan, Kenya, Zambia, Laos, Mongolia, Utah, Ukraine

☆ Stocks making the biggest moves midday: ChargePoint Holdings, Seagate Technology, C3.ai and more
▼ + stars: | 2023-09-07 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Seagate Technology — Seagate Technology shares dropped about 10.9% after Barclays downgraded the stock to equal weight form overweight. ChargePoint Holdings — Shares of ChargePoint Holdings plunged 10.9% after the electric vehicle charging infrastructure company missed fiscal second-quarter revenue estimates. ChargePoint posted $150 million in revenue, weaker than the $153 million forecast by analysts polled by LSEG, formerly known as Refinitiv. Meanwhile, C3.ai reported an adjusted fiscal first-quarter loss of 9 cents per share on revenue of $72.4 million. Verint Systems — Shares plunged 19.4% in midday trading after the analytics company reported weaker-than-expected second-quarter earnings and revenue.

Persons: Rollins —, ChargePoint, LSEG, StreetAccount, Roku, —, Alex Harring, Yun Li, Pia Singh Organizations: Europe's, Kappa, Wall Street, GameStop, Wall, — Semiconductor, Lam Research, Devices, Qualcomm, Nvidia, Intel, Apple, Bloomberg, Street Journal, Technology, Wednesday, Seagate Technology, Barclays, ChargePoint Holdings, LSEG, Buster's Entertainment, Loop Locations: China

☆ Leon Cooperman says the stock market won't have a new high for a long time
▼ + stars: | 2023-09-07 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Leon Cooperman said Thursday the stock market could be stagnant for an extended period of time, adding that he's standing by his recession call. "I don't expect we see a new high in the market for a long time," Cooperman said on CNBC's "Squawk Box." "I think we're going to wind up with a recession, but it's not here, not now," Cooperman said. The S & P 500 has rallied more than 16% this year, powered by Big Tech and stocks tied to artificial intelligence. "I think the strength of the market was very much tied to positioning.

Persons: Leon Cooperman, Cooperman, We've, it's Organizations: Omega, Big Tech Locations: U.S

STOCKHOLM, Sept 6 (Reuters) - The EU Commission on Wednesday designated 22 services of six major tech companies as "gatekeepers" of online services providing messaging to video sharing in its latest crackdown on Big Tech. Alphabet's Google had the highest number of services, including Android operating system, Maps and Search, which would face tougher rules. "It's D-Day for #DMA!," EU industry chief Thierry Breton said on X, formerly known as Twitter. "The most impactful online companies will now have to play by our EU rules." A Microsoft spokesperson said it accepts its gatekeeper designation, while Meta, Google and Amazon spokespersons said they were reviewing the designations.

Persons: WhatsApp, Thierry Breton, TikTok, Stavroula Vryna, Clifford Chance, Supantha Mukherjee, Foo Yun Chee, Martin Coulter, Jason Neely, David Evans Organizations: EU, Big Tech, Apple, Microsoft, ByteDance, Google, Android, Facebook, Justice, Digital Services, Meta, Gmail, Edge, Thomson Locations: STOCKHOLM, Luxembourg, iMessage, Stockholm, Brussels, London

☆ Bank of America says this stock should benefit as student loan payments restart and borrowers refinance
▼ + stars: | 2023-09-06 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Student loan borrowers are set to restart their payments after a three-year reprieve, and Bank of America said SoFi Technologies could be a big beneficiary from an uptick in refinance activity. "We believe the uptick in deposits could also be a sign of increased student loan refinance activity," Bank of America analyst Mihir Bhatia said in a note. "SOFI should benefit from higher student loan refinances given its strong position in the student loan refi market." As a result, millions of borrowers in October will make their first student loan payment since before the Covid-19 pandemic hit. SOFI YTD mountain SoFI Bank of America said SoFi had about 60% market share in private student loan refi in recent quarters, up from 40% in the pre-pandemic era.

Persons: Mihir Bhatia, refinances, SoFi, originations, — CNBC's Michael Bloom Organizations: Bank of America, SoFi, SoFI Bank of America Locations: Tuesday's

Chinese President Xi Jinping attends the plenary session of the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. More than 10 envoys from these countries stationed in China detailed to Reuters the increasing difficulty they face getting access to Chinese officials and other sources of information on the world's second-largest economy. When meetings are arranged, Chinese officials stick rigidly to scripted comments, the diplomats said, while some added they experienced hostile behaviour from nationalistic academics. However, envoys from two countries which enjoy close relations with China said they had experienced no such problems. "To Chinese officials, the benefits of such engagements have become less evident, while the political and security risks are growing."

Persons: Xi Jinping, GIANLUIGI, Ryan Neelam, Xi, Li Qiang, Vladimir Putin, COVID, Emmanuel Macron, Antony Blinken, Yun Sun, Sun, Tong Zhao, Martin Quin Pollard, Laurie Chen, John Geddie, Nick Macfie Organizations: Rights, Reuters, Lowy Institute, China Program, Stimson, Washington D.C, U.S, Carnegie Endowment, International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights BEIJING, China, India, Beijing, Australian, Hong Kong, Russia, Ukraine, Taiwan, New Delhi, Moscow, Washington

☆ Goldman Sachs on why AI is not a bubble and the best ways to play it
▼ + stars: | 2023-09-05 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The fast advance, while some view as unsustainable, has been supported by strong underlying fundamentals, Goldman said. Goldman highlighted a list of 11 stocks in various industries as "potential near-term beneficiaries of the AI revolution." Marvell Technology and Credo also manufacture related equipment needed to build AI technology, Goldman said. Goldman also identified a handful of companies that use their extensive cloud computing infrastructures to commercialize AI on a large scale. Thirdly, companies that are currently leveraging AI technology to amplify their businesses could also be near-term winners, Goldman said.

Persons: Goldman Sachs, Goldman, Peter Oppenheimer, Salesforce Organizations: Nvidia, Microsoft, Marvell Technology, Technology, Adobe, Intuit, Google, Meta

☆ Stocks making the biggest moves midday: PagerDuty, Dell, Tesla, Broadcom and more
▼ + stars: | 2023-09-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. PagerDuty — The stock declined 7.7% after PagerDuty issued third-quarter earnings guidance that missed analysts' expectations. The company expects earnings per share between 13 cents and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. The company's earnings per share came out at $1.71, however, which was lower than analysts' expectations of $1.76, according to StreetAccount. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter.

Persons: Lululemon, Papa John's, PagerDuty, Baird, Precious, Refinitiv, Morgan Stanley, Dell, Roz Brewer, Tesla, — MongoDB, Yun Li, Alex Harring, Michelle Fox Theobald Organizations: Broadcom, VMware, Refinitiv, Revenue, Dell Technologies, Walgreens, Alliance Locations: San Jose , California, China

☆ Vietnamese EV maker VinFast fails to cement meme stock status as eye-popping rally fades quickly
▼ + stars: | 2023-09-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Frantic trading in VinFast has raised eyebrows, but it's still far from becoming a meme stock. After a head-scratching six-day winning streak, VinFast has lost 60% this week, cutting its gains since its market debut to about 170%. No meme stock VinFast's short-lived rally is reminiscent of the trading frenzy last year in AMTD Digital, a little-known Hong Kong-based fintech company, where the stock was up more than 20,000% in just two weeks. The stock is now trading at $5.60 apiece, nearly 30% lower than its initial public offering price of $7.80. The SPAC market dried up over the past year as interest rates surged and regulatory pressure ramped up.

Persons: VinFast, Marco Iachini, I'm, Iachini, Alex Harring Organizations: Ford, GM, Vanda Research, AMTD, GameStop, Nasdaq, Black Locations: VinFast, Hong Kong

Companies Microsoft Corp FollowSalesforce Inc FollowBRUSSELS, Aug 31 (Reuters) - Microsoft (MSFT.O) will unbundle its chat and video app Teams from its Office product and make it easier for rival products to work with its software, the U.S. company said on Thursday in a move aimed at staving off a possible EU antitrust fine. The proposed changes came after a month after the European Commission launched an investigation into Microsoft's tying of Office and Teams following a complaint by Salesforce-owned (CRM.N) workspace messaging app Slack in 2020. Microsoft's preliminary concessions failed to address concerns. Reporting by Foo Yun Chee; Editing by Sharon SingletonOur Standards: The Thomson Reuters Trust Principles.

Persons: Foo Yun Chee, Sharon Singleton Organizations: Microsoft, U.S ., European Commission, Salesforce, Thomson Locations: U.S

The proposed changes came a month after the European Commission launched an investigation into Microsoft's tying of Office and Teams following a complaint by Salesforce-owned (CRM.N) workspace messaging app Slack in 2020. The EU competition enforcer on Thursday said it took note of the company's announcement and declined further comment. Teams was added to Office 365 in 2017 for free. New enterprise customers can buy Teams standalone and separately for 5 euros per month or 60 euros per year, while existing enterprise customers who already have a suite with Teams can choose to keep it or move to a without-Teams suite. Microsoft will also develop a new method for hosting the Office web applications within competing apps and services similar to what it does with Teams.

Persons: Nanna, Louise Linde, Foo Yun Chee, Sharon Singleton, Peter Graff Organizations: Microsoft, U.S ., European Commission, Salesforce, EU, Business, U.S, Reuters, Thomson Locations: Brussels, U.S, Europe, Switzerland

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