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☆ S&P 500 futures are flat after Wall Street notches four-day winning streak: Live updates
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

S&P 500 futures were flat Wednesday night after the broad market index notched a fourth-straight positive day. Futures for the S&P 500 and Nasdaq 100 futures oscillated near the flat line. Investors are coming off a positive session for the major averages Wednesday, with the S&P 500 ending the day 0.38% higher. The Dow and S&P 500 are each lower by more than 1% in August, while the Nasdaq is off by over 2%. Economists polled by Dow Jones are expecting a year-over-year rise of 4.2% last month, up slightly from a 4.1% increase the previous month.

Persons: Stephanie Link, Dow Jones Organizations: New York Stock Exchange, Traders, Nasdaq, Dow Jones Industrial, Dow, Dow Jones, Reserve, Broadcom, Fed

☆ Stocks making the biggest moves after hours: Salesforce, Okta, CrowdStrike, Five Below and more
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

CrowdStrike beat analysts' second-quarter expectations on the top and bottom lines. The cybersecurity company reported second-quarter adjusted earnings of 74 cents per share on revenue of $732 million. The identity and access management company exceeded analysts' second-quarter expectations. Okta posted second-quarter adjusted earnings of 31 cents per share on revenue of $556 million. Salesforce — Salesforce climbed 5.6% after the software company reported fiscal second-quarter earnings and revenue that surpassed estimates.

Persons: CrowdStrike, Refinitiv, — Okta, Okta, Salesforce — Salesforce, Salesforce, — Chewy Organizations: Refinitiv, Costco Wholesale

☆ Comeback kids: These stocks could be ready to regain their 2023 momentum after rough August
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

As investors turn the page on a rough August, CNBC Pro found stocks that are set for comeback if the market regains its footing. Investors are in the last week of what has been a difficult month for stocks. CNBC Pro surfaced some stocks that could be due for a comeback. A slew of travel and entertainment names surfaced on the list. Expedia Group , MGM Resorts International and Wynn Resorts were other travel stocks that surfaced on the list.

Persons: David Sneddon, It's, Vivek Arya, Ralph Lauren, Jay Sole, — CNBC's Michael Bloom Organizations: CNBC Pro, Nasdaq, Investors, Wall Street, American Airlines Group, Caesars Entertainment, Cruise Line Holdings, Cruise, Expedia, MGM Resorts International, Wynn Resorts, Technology, Bank of America, UBS Locations: Beta

☆ Stocks making the biggest moves midday: HP, Box, Brown-Forman, Insulet and more
▼ + stars: | 2023-08-30 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

HP — HP dropped 6.6% in midday trading after reporting a fiscal third-quarter revenue miss. Late Tuesday, the PC maker reported quarterly revenue of $13.20 billion, lower than the $13.37 billion estimated by analysts polled by Refinitiv. Otherwise, its third-quarter adjusted earnings of 86 cents per share came in line with estimates. Box anticipates third-quarter earnings of 37 cents to 38 cents per share, while analysts polled by FactSet called for 39 cents per share. Brown-Forman posted 48 cents in earnings per share on $1.04 billion in revenue.

Persons: Refinitiv, FactSet, Ambarella, Calvin Klein, Brown, Forman —, Jack, Forman, James Hollingshead, Wells, Apple, it's, Wells Fargo, Sunrun, —, Samantha Subin, Hakyung Kim, Sarah Min, Yun Li, Michelle Fox, Jesse Pound Organizations: HP, Revenue, Fluence Energy, Barclays, Spotify, Big Tech, Citi, Rockwell Automation, Netflix, Technology, HSBC Locations: Germany, U.S, Wells Fargo

☆ Stocks making the biggest moves premarket: Box, Insulet, HP and more
▼ + stars: | 2023-08-30 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

HPE posted adjusted earnings of 49 cents per share for its fiscal third quarter, 2 cents higher than a Refinitiv estimate. Insulet — Insulet jumped 4.4% after CEO James Hollingshead disclosed Tuesday buying 5,550 shares of the medical device maker. Box — The stock plunged 10.2% premarket after the California-based cloud storage company posted a mixed second-quarter report postmarket Tuesday. Box issued weak top- and bottom line financial guidance for the current quarter, and for full-year revenue, according to FactSet. HP posted $13.2 billion in revenue, below analysts' $13.37 billion, according to Refinitiv, while earnings per share matched expectations at 86 cents, excluding items.

Persons: HPE, Insulet — Insulet, James Hollingshead, Bernstein, PVH —, Calvin Klein, PVH, Refinitiv, —, Samantha Subin, Yun Li, Sarah Min Organizations: HSBC, Hewlett Packard Enterprise, FactSet . Texas, HP —, HP Locations: Germany, U.S, California, FactSet

☆ Buy the dip: HSBC says this is a great time to load up on U.S. stocks, other risk assets
▼ + stars: | 2023-08-29 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

It's time to start loading up on U.S. stocks and other risk assets, HSBC said. Investors are heading into September after what has been a weak month for equities. However, HSBC analyst Max Kettner said he does not expect any "similar broad-based sell-offs" going forward even if yields remain elevated. "So we think this presents a pretty good tactical entry point into risk assets, above all into US equities." While many economists are leaving behind U.S. recession forecasts, they still expect further weakness in Europe.

Persons: Max Kettner, Kettner, CNBC's, Michael Bloom Organizations: HSBC, Investors, Nasdaq, Atlanta Federal Locations: U.S, Europe

☆ Stocks making the biggest moves midday: Best Buy, Big Lots, Coinbase, Nio and more
▼ + stars: | 2023-08-29 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Best Buy — Shares popped nearly 6% after the retailer's fiscal second-quarter earnings beat on both the top and bottom lines. Big Lots — The discount retailer surged 26.7% after its earnings report came in better than analysts expected. Big Lots lost $3.24 per share, on an adjusted basis, less than the $4.11 forecasted by analysts surveyed by FactSet. Bernstein reiterated its outperform rating and said investors should buy the stock after a recent pullback in share prices. Futu Holdings — The Asian wealth management stock popped 10% following a double-upgrade to buy from underperform by Bank of America.

Persons: Heico, Tesla, Morgan Stanley, tailwinds, General Motors, they're, — Catalent, Catalent, Elliott, Ginkgo, Wells, it's, Bernstein, Jefferies, Splunk, Raymond James, —, Sarah Min, Samantha Subin, Yun Li, Hakyung Kim, Michelle Fox, Pia Singh, Jesse Pound Organizations: Refintiv, Revenue, FactSet, Marathon, Securities and Exchange Commission, Marathon Digital, Industry, Nvidia, Holdings —, Oracle — Software, Oracle, UBS, Verizon, Citi, General Motors, Google, General, Motors, Elliott Investment Management, Rockwell Automation, Bank of America, Futu Holdings, NextEra Energy Partners Locations: San Francisco , California, underperform

☆ Chase Slate Edge Credit Card Review
▼ + stars: | 2023-08-28 | by ( Aaron Hurd | ) www.wsj.com time to read: +7 min

By Aaron HurdIf you’re one of the millions of Americans dealing with credit card debt — which recently hit a record $1.03 trillion — a balance-transfer credit card can offer temporary relief. That’s exactly what the Chase Slate Edge, our pick for Best Balance-Transfer Credit Card, delivers. But the thing that gives the Slate card the edge is how it helps you improve your credit score. If this is you, the automatic credit line increases you can earn with the Chase Slate Edge will give your credit score a boost while you pay off your credit card balance. We preferred credit cards with longer balance transfer promotional periods and lower balance transfer initiation fees.

Persons: Aaron Hurd, you’ve, Chase Organizations: Slate, Chase, Chase Slate, Slate Edge, Wings, Navy Federal Credit Union, Navy Federal

☆ US-Sino tensions help spawn China card game craze
▼ + stars: | 2023-08-28 | by ( Yew Lun Tian | ) www.reuters.com time to read: +4 min

[1/4] Amateur players take part in a competition of guandan, a poker-like card game, in Beijing, China August 13, 2023. Total U.S.-based venture-capital investment in China plummeted to $9.7 billion last year from $32.9 billion in 2021, PitchBook data shows. "In finance, information is currency," said Yang, for whom a game of guandan has become a standard gambit before wining and dining local officials. Yu Longze, a broker based in Beijing, said his boss this month ordered all staff to learn the game. In April, the ruling Communist Party's anti-graft watchdog censured one of its officials in the eastern province of Anhui for playing guandan during a training course, among other misdeeds.

Persons: Yang Yiming, Joe Biden, Xi Jinping, Yang, Yu Longze, Huang, Hua Min, Li Keshu, Yew Lun, John Geddie, Clarence Fernandez Organizations: REUTERS, Rights, China's, Total U.S, Reuters, Thomson Locations: Beijing, China, Rights BEIJING, United States, Texas, Anhui

☆ Stocks making the biggest moves midday: RPT Realty, Mister Car Wash, Boston Scientific, 3M and more
▼ + stars: | 2023-08-28 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

RPT Realty — RPT Realty shares surged 17% after Kimco Realty, an operator of open-air shopping centers, said it would acquire the real estate investment trust in a roughly $2 billion all-stock deal. Mister Car Wash — The car wash stock advanced 6.1% on the back of an upgrade to overweight from neutral by Piper Sandler. Alibaba Group , JD.com — Alibaba and JD.com each added more than 2% after the Chinese government announced measures to boost its stock market, including reducing a tax on trading. Xpeng — Shares of the Chinese electric car company jumped 5.3% after the firm said it is buying Didi's smart electric car development business in an exchange of shares worth $744 million. Meanwhile, Xpeng said it plans to develop an electric car for launch next year under a new mass market brand.

Persons: Conor Flynn, Piper Sandler, — CrowdStrike, Morgan Stanley, —, Xpeng, Wells, Sarah Akers, Micron Technology — Stocks, — CNBC's Alexander Harring, Hakyung Kim, Yun Li, Jesse Pound, Pia Singh, Samantha Subin Organizations: RPT, Realty, Kimco Realty, Boston, Boston Scientific, Bloomberg, 3M, Akero Therapeutics, Therapeutics, UBS, Alibaba, Micron Technology —, Micron Technology, Marvell Technology, Semiconductors Locations: Xpeng

☆ It was a poor month for the Nasdaq. History shows it could get worse before it gets better
▼ + stars: | 2023-08-28 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

August is shaping up to be a poor month for the Nasdaq Composite, but history suggests that it will only get worse before it gets better. The Nasdaq Composite is headed for its worst month since May, down more than 4%. The Dow Jones Industrial Average and the S & P 500 were down more than 2% and 3%, respectively. September is actually the only month out of the year that the Nasdaq Composite averages a negative return, as well as the lowest rate of advance. On Monday, however, the Nasdaq Composite appeared to consolidate somewhat from its August lows.

Persons: It's, Sam Stovall, Stovall, John Roque, NVDA, manna, sloppily, Roque, — CNBC's Michael Bloom, Gabriel Cortes Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Research, Meta

☆ South Korea's Doosan Robotics opens books for $318 mln IPO
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Aug 28 (Reuters) - South Korea's Doosan Robotics Inc has opened the books on an up to $318 million initial public offering, according to a company filing. Through the IPO, the company is seeking to raise up to 421.2 billion won ($318.3 million), with its market capitalisation expected to be up to 1.69 trillion won. The international bookbuilding will run from Aug. 28 to Sept. 15, while the domestic book will be open Sept. 11-15, Doosan Robotics' regulatory filing said. The company received approval for the IPO from the Korean bourse earlier this month. ($1 = 1,323.2200 won)Reporting by Ju-min Park; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: 1,323.2200, Stephen Coates Organizations: Korea's Doosan Robotics Inc, Doosan Robotics, underwriters, Korea Investment & Securities, Mirae Asset Securities, bourse, Thomson Locations: SEOUL, Korean

☆ Stocks making the biggest moves premarket: 3M, CrowdStrike, Xpeng and more
▼ + stars: | 2023-08-28 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Xpeng — U.S.-traded shares of the Chinese electric vehicles company jumped 5% Monday premarket. Xpeng announced it would buy Didi's smart electric car business in a deal worth $744 million. Mister Car Wash — The car wash stock climbed 5.7% in premarket trading following an upgrade to overweight from neutral by Piper Sandler. The firm said Mister Car Wash has upside potential over the next two years. CrowdStrike — Shares of the cybersecurity company fell 2.6% in premarket trading after Morgan Stanley downgraded CrowdStrike to equal weight from overweight.

Persons: Xpeng, Piper Sandler, CrowdStrike, Morgan Stanley, Akero, Conor Flynn, Danaher, —, Jesse Pound, Sarah Min, Alexander Harring Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, —, Bloomberg News, UBS, RPT, Kimco Realty, Boston, Boston Scientific Locations: Shanghai, China, Xpeng —

☆ East Timor condemns Myanmar's expulsion of top diplomat
▼ + stars: | 2023-08-27 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Soe Zeya Tun Acquire Licensing RightsJAKARTA, Aug 27 (Reuters) - Myanmar's military government has ordered East Timor's top diplomat to leave the country, the government of East Timor - a vocal critic of Myanmar's leadership - said in a statement condemning the rare action. Myanmar's government, which assumed power in a coup in 2021, has not made any announcement on the matter and a spokesperson was not immediately available for comment. East Timor politicians have been outspoken critics of Myanmar's military government and President Jose Ramos-Horta has met with a top representative from Myanmar's shadow National Unity Government (NUG), which opposes military rule. The country's charge d'affaires must leave Myanmar by Sept. 1, NUG human rights minister Aung Myo Min said on Facebook. In protest against the 2021 coup, many countries have charges d'affaires in Myanmar instead of ambassadors.

Persons: Pope Francis, Soe Zeya, Myanmar's, Jose Ramos, Aung Myo Min, Christopher Cushing Organizations: San Football, REUTERS, Rights, East, . East, National Unity Government, Facebook, Reuters, Thomson Locations: Myanmar, Yangon, Rights JAKARTA, East Timor's, East Timor, ., . East Timor, Horta

☆ This Chinese EV maker can grab market share and double its earnings, Ariel Investments says
▼ + stars: | 2023-08-26 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Investors are underestimating a buying opportunity in Chinese EV maker Great Wall Motor, which could double its earnings from current levels, according to Ariel Investments. The Chinese SUV and pickup truck maker was named by the investment chief as a company to watch at a recent emerging markets panel. But Mallari-D'Auria said he expects Great Wall will grab market share in China as it increasingly builds out an SUV line with vehicles at higher price points. To be sure, there are risks around trading in Great Wall, whose primary listing is in Hong Kong. Over the longer term, the portfolio manager even expects Great Wall will start to gain market share in Europe, though while the near-term opportunity remains at home.

Persons: Henry Mallari, Ariel, Wall, Warren Buffett's, D'Auria, Nick Lai, — CNBC's Michael Bloom Organizations: EV, Ariel Investments, Ariel, Wall, BYD, Volvo, Warren, Warren Buffett's Berkshire Hathaway, JPMorgan Locations: Chicago, Ariel, U.S, China, Great, Hong Kong, Europe

☆ Maddison opens Tottenham account in win at Bournemouth
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +3 min

BOURNEMOUTH, England, Aug 26 (Reuters) - James Maddison opened his account for Tottenham Hotspur with the first goal in his side's impressive 2-0 victory at Bournemouth in the Premier League as the visitors maintained their unbeaten start to the season on Saturday. Bournemouth threatened to get back in the game in the second half, but Dejan Kulusevski doubled Tottenham's lead just past the hour with a neat finish following a slick build-up. Against Bournemouth his range of passing and quick thinking gave Postecoglou's side an attacking impetus that the hosts found hard to contain. "I'll keep doing what I do and bringing the quality I can, repaying the club and why they bought me," Maddison said. Bournemouth started the second half on the front foot and Antoine Semenyo curled a shot agonisingly wide.

Persons: James Maddison, Dejan Kulusevski, Ange Postecoglou's, Harry Kane, Maddison, Tottenham, Pape Matar Sarr, Maddison's, scuffed, Neto, Sarr, Yves Bissouma, Richarlison, Antoine Semenyo, Postecoglou, Ivan Perisic, Udogie, Son Heung, Kane, You've, Martyn Herman, Hugh Lawson Organizations: BOURNEMOUTH, Tottenham Hotspur, Bournemouth, Premier League, Leicester City, Tottenham, Bayern Munich, Brentford, Manchester United, Spurs, BBC, Thomson Locations: England, Tottenham's

☆ Stocks are heading for a down August as market kicks off September with jobs report
▼ + stars: | 2023-08-25 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regardless, the major averages are set to close a losing month as higher yields and Fitch downgrades weighed on equities this month. "Further cooling in the labor market and the services sector," said Brian Ellis, portfolio manager at Morgan Stanley Investment Management. The labor report will be preceded by the July personal consumption expenditures, or PCE, report on Thursday. In fact, many investors expect that the Federal Reserve is probably done hiking rates here as policymakers await the effects of higher rates on the real economy. Increasingly, investors are looking for opportunities in income as they deal with the possibility of higher rates for longer.

Persons: Jerome Powell, Jackson, Jay Hatfield, Fitch downgrades, nonfarm, Brian Ellis, Powell, Morgan, Ellis, Ben Kirby, that's, Thornburg's Kirby, Campbell Organizations: Federal, Nvidia, Nasdaq, Dow Jones, Capital Management, Dow Jones Industrial, FactSet, Morgan Stanley Investment Management, Federal Reserve, Thornburg Investment Management, Labor, Investors, Dallas Fed, Hewlett Packard Enterprise, HP, ADP, Costco, PCE, PCE Deflator, Chicago PMI, Dollar, Broadcom, Jobs, PMI, Manufacturing Locations: , Wyoming, U.S, cautiousness, Smucker, Chicago

☆ Stocks making the biggest moves premarket: Marvell Technology, Affirm, Hawaiian Electric and more
▼ + stars: | 2023-08-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Marvell posted earnings of 33 cents per share, excluding items, on $1.34 billion in revenue. For the recent period, Affirm posted a smaller-than-expected loss of 69 cents per share on revenues of $446 million. Intuit posted $2.71 billion in revenue, ahead of the $2.64 billion expected. Analysts polled by Refinitiv had anticipated earnings of $5.85 per share on $2.51 billion in revenue, according to Refinitiv. Adjusted earnings per share came in at 34 cents, ahead of the 9 cents expected by analysts polled by Refinitiv.

Persons: Marvell, Refinitiv, Nordstrom, Ulta, Alan Gould, —, Jesse Pound, Sarah Min, Michelle Fox Organizations: Marvell Technology, Hawaiian Electric, Electric, NBC News, Intuit —, Refinitiv, Intuit, AMC Entertainment, Netflix Locations: Maui

☆ Nvidia's blowout quarter is a bullish signal for stocks, but not right now, investors say
▼ + stars: | 2023-08-24 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Nvidia's blowout quarter was a positive signal for stocks, but maybe not at just this moment, some investors say. "We're bullish on the market, but more in the fourth quarter than the fall," said Infrastructure Capital Management CEO Jay Hatfield. The investor expects the S & P 500 will close the year up at 5,000, which is roughly 12% above where the index closed Wednesday. On Thursday, the major averages turned lower during midday trading after a boost from Nvidia earnings results faded . For the month of August, the Dow Jones Industrial Average and S & P 500 are down by more than 3%, each.

Persons: Jay Hatfield, Hatfield, hasn't, Hogan, Vital, Adam Crisafulli Organizations: Capital Management, Nvidia, Dow Jones Industrial, NVIDIA, Wall, Riley

SEOUL, Aug 24 (Reuters) - North Korea appears to have made progress in its space program, despite a second rocket failure on Thursday, but its unusually quick launch pace may be causing problems, analysts said. North Korea's second attempt to place a spy satellite in orbit failed after the booster experienced a problem with its third stage, state media reported. South Korea scheduled nearly a year between each of the three launches of its new Nuri rocket, none of which failed as spectacularly as the North Korean attempts. North Korea plans to launch the Chollima-1 three times in less than six months. "I am not sure if North Korean leadership knows the characteristics of large-scale science," he said.

Persons: Jeffrey Lewis, James Martin, Chang Young, Kim Jong, Yang Uk, Nuri, Yang Moo, Kim, Lee Choon, Hyonhee Shin, hyang Choi, Josh Smith, Gerry Doyle Organizations: James, James Martin Center, Nonproliferation, Korea Aerospace University, Asan Institute, Policy Studies, University of North Korean Studies, South Korea's Science, Technology Policy Institute, Thomson Locations: SEOUL, North Korea, South Korea, Pyongyang, Seoul, Korea, Korean

☆ Stocks making the biggest moves in the premarket: Nvidia, Boeing, Splunk and more
▼ + stars: | 2023-08-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Adjusted earnings came in at $2.70 per share, ahead of the $2.09 estimate expected from analysts polled by Refinitiv. Snowflake posted 22 cents adjusted earnings per share on $674 million in revenue. AutoDesk reported adjusted earnings of $1.91 per share on $1.35 billion in revenue. Adjusted earnings per share of 6 cents was in line with expectations and revenue slightly beat, per StreetAccount. However, Petco's full-year guidance for adjusted EPS and adjusted earnings before interest, taxes, depreciation and amortization fell short of consensus estimates.

Persons: Splunk, FactSet, Snowflake, Refinitiv, —, Carlos Alberini, Petco's, amortization, CNBC's Hakyung Kim, Pia Singh, Sarah Min, Michelle Fox, Jesse Pound Organizations: Nvidia, Refinitiv, Wall, Taiwan Semiconductor, AMD, Marvell Technology — Semiconductor, Devices, Marvell Technology, Broadcom, Boeing —, AutoDesk, Petco, Wellness Locations: Wall Street

☆ People online are mocking a bizarre crossover that's turned arms manufacturer Lockheed Martin into streetwear in South Korea
▼ + stars: | 2023-08-24 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Users on X and TikTok spotted Lockheed Martin brand streetwear being sold online in South Korea. "Why is lockheed martin making streetwear for swagged out Asians," wrote one user on X. The South Korean company told Insider in an email that it acquired the official Lockheed Martin license brand through an agency. The collection was spotted by X user @wiggerwakanda on Friday, which read: "why is lockheed martin making streetwear for swagged out Asians." "Military industrial complex sponsored Korean streetwear is wayyyy too insane to have made it onto my 2023 bingo card," X user @candidspeaks posted on Wednesday.

Persons: Lockheed Martin, lockheed martin, streetwear, Doojin Yanghang, opaleyes369, Daily's Shin Organizations: Lockheed, lockheed, Service, Won, South, CNN, Yale, Billboard, Kodak, Equity Management Locations: South Korea, swagged, Wall, Silicon, American, Korean, Korea

☆ South Korea's Naver launches generative AI services
▼ + stars: | 2023-08-24 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

Naver said its AI product, named HyperCLOVA X, will provide generative AI-driven searches for users as well as new customised services for enterprise clients. Naver has said it is jointly developing with Samsung Electronics (005930.KS) new chip solutions that will be smaller and more efficient to support its AI technology development. The company plans to open a new data centre for the HyperCLOVA X services in November, Naver said on Thursday. "We are ready to face a new transformation called generative AI," Naver Chief Executive Choi Soo-yeon said. Choi said the company was in talks with global partners about its new AI services' overseas expansion but it was not ready to identify those partners.

Persons: Heo, OpenAI's ChatGPT, Naver, HyperCLOVA, Choi Soo, Choi, Miyoung Kim, Sam Holmes Organizations: REUTERS, Rights, Samsung Electronics, Microsoft, Google, U.S, Thomson Locations: Seongnam, South Korea, Rights SEOUL, Seoul, Japan, Southeast Asia

☆ Apple is now the least-owned Big Tech stock by institutions, Morgan Stanley says
▼ + stars: | 2023-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Apple is now the Big Tech stock owned least by institutional investors and is the most underowned it has been since 2008, according to Morgan Stanley. Over the past four years, the most underowned megacap stock in institutional portfolios was Microsoft , according to analyst Erik Woodring. Investors have been concerned Apple stock was overpriced after its huge rally earlier this year. In fact, of the large-cap companies it evaluates, Apple, Microsoft, Nvidia , Amazon and Google parent Alphabet are the most underowned stocks in actively managed portfolios, according to Morgan Stanley. "Amongst the 5 mega-cap tech stocks, META is the only name where institutional ownership is greater than its S & P 500 weighting."

Persons: Morgan Stanley, Erik Woodring, Apple's, Woodring, Meta, it's, Michael Bloom Organizations: Apple, Big Tech, Microsoft, Investors, Nvidia, Amazon, Meta Locations: MSFT, F4Q23

☆ Tom Lee says buy stocks now as 'August sloppiness' winds down
▼ + stars: | 2023-08-23 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Tom Lee recommends investors take a risk-on approach starting Wednesday as he expects markets will soon bottom. .SPX mountain 2023-07-31 SPX in August Lee thinks that equities are "showing early signs of diverging from higher rates," meaning stocks are sensing that rates could top out soon. "Our view is a calculated bet that stocks are rising, despite higher rates, because the stock market is sensing this turn that [Fundstrat technical strategist Mark] Newton believes could happen in the next week or two," Lee wrote. "In other words, we are saying the last push higher in rates will not proportionately hit stocks." "[Our] view is this will support the picture of a glide path to lower inflation and a softening labor market," Lee wrote.

Persons: Tom Lee, Lee, Jerome Powell's Jackson, Mark, Newton, Jackson Organizations: Fitch, Federal Locations: China

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