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☆ MrBeast plans to take on Hershey's with his Feastables brand - and says shorting a stock 'seems lame'
▼ + stars: | 2023-07-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The YouTube star seems confident he can take on Hershey's with his Feastables chocolate bars. MrBeast, whose real name is Jimmy Donaldson, also said that shorting a company's stock "seems lame." "But I will say these next few years between Feastables and Hershey's will be interesting once I actually ramp up." Warren Buffett, whose Berkshire Hathaway conglomerate owns See's Candies, has warned that old habits die hard in the candy business. Buffett even challenged Elon Musk to disrupt the candy business a few years ago, and the Tesla CEO tried and failed to develop a superior candy.

Persons: MrBeast, Jimmy Donaldson, who's, Donaldson, Warren Buffett, Buffett, Elon Musk Organizations: YouTube, Service, GameStop, AMC Entertainment, Berkshire Hathaway, Berkshire Locations: Wall, Silicon, Feastables, Berkshire

☆ Microsoft-Activision deal back in hands of UK regulator after court pauses appeal
▼ + stars: | 2023-07-21 | by ( ) www.reuters.com time to read: +2 min

LONDON, July 21 (Reuters) - Microsoft's Activision Blizzard deal is back in the hands of Britain's antitrust regulator after an appeals court granted an adjournment, and the grounds for why the UK should reconsider its block on the U.S. software giant's takeover were published. The Competition and Markets Authority (CMA) set out on Friday Microsoft's arguments for the reconsideration, as the U.S. battles to win UK approval to buy "Call of Duty" maker Activision. Explaining why the deal should now be given the green light, Microsoft argued that the binding commitments accepted by the European Union shortly after Britain had blocked the deal changed matters, court documents published showed. The CMA said it understood that Microsoft considered the recent licensing deal it agreed with Sony constituted a further material change of circumstance or special reason. Britain's Competition Appeal Tribunal provisionally approved the adjournment on Monday subject to further submissions from the parties.

Persons: Candy, Sarah Young, Paul Sandle, Sam Tobin, Alistair Smout, Louise Heavens Organizations: Microsoft's Activision, Markets Authority, Activision, CMA, Microsoft, European Union, NVIDIA, Boosteroid, Sony, Thomson Locations: U.S, European, Britain

Meanwhile, the tech-heavy Nasdaq (.IXIC) lagged in the previous session as earnings reports from Tesla (TSLA.O) and Netflix (NFLX.O) failed to dazzle. The megacap electric automaker recovered 1.1% in premarket trading on Friday, while the streaming video company edged higher. The NYSE FANG+TM index (.NYFANG) that houses the megacap growth names also closed 4.6% lower in the previous session, notching its worst day so far in 2023. ET, Dow e-minis were up 13 points, or 0.04%, S&P 500 e-minis were up 11 points, or 0.24%, and Nasdaq 100 e-minis were up 73.75 points, or 0.47%. Reporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Powell, David Mericle, Goldman Sachs, Toymaker Mattel's, Morgan Stanley, Bansari Mayur Kamdar, Johann M, Shinjini Organizations: Mattel, Dow, Nasdaq, Johnson, Tesla, Netflix, NYSE, Dow e, American Express, Investors, Thomson Locations: Bengaluru

☆ The Investing Club's top 10 things to watch in the stock market Friday
▼ + stars: | 2023-07-21 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

The Club's top 10 things to watch Friday, July 21 1. Morgan Stanley raised its price target on Eli Lilly to $560 a share, up from $551. KeyBanc raised its price target on Club holding Palo Alto Networks (PANW) to $285 a share, from $242, while maintaining an overweight weighting on the stock. Stifel raised its price target on Club holding Meta Platforms (META) to $336 a share, from $280, while maintaining a buy rating on the stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: it's, Z, Morgan Stanley, Eli Lilly, KeyBanc, SLB, Halliburton, SVB Leerink, Johnson, Stifel, DA Davidson, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, American Express, Novo Nordisk, Palo Alto Networks, Johnson, . Railroad, CSX, Microsoft, Jim Cramer's Charitable, CNBC Locations: millennials

☆ Apple has a 'very unique' advantage over other A.I. model builders, analyst says
▼ + stars: | 2023-07-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple has a 'very unique' advantage over other A.I. model builders, analyst saysMartin Yang, senior analyst of emerging technologies at Oppenheimer & Co., explains the why the company is "very constructive" on Apple's stock and discusses the tech giant's "market access advantage" in artificial intelligence.

Persons: Martin Yang Organizations: Apple, Oppenheimer, Co

☆ Here are Friday's biggest analyst calls: Nvidia, Amazon, Carvana, Roku, Microsoft, Eli Lilly and more
▼ + stars: | 2023-07-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Truist reiterates Amazon as buy Truist said it's bullish heading into Amazon earnings Aug. 3. Piper Sandler upgrades SL Green to overweight from neutral Piper Sandler said in its upgrade of SL Green that the real estate investment trust has "favorable tailwinds." Piper Sandler downgrades Discover to neutral from overweight Piper Sandler said in its downgrade of the credit card company that it sees too many negative catalysts. Piper Sandler downgrades Carvana to neutral from overweight Piper Sandler downgraded the online used-car company mainly on valuation. Sirius' stock price has more than doubled over the past month and increased 42% yesterday alone.

Persons: . Bank of America downgrades Herc, Herc, Underperform, KeyBanc, it's, Truist, Piper Sandler, Piper Sandler downgrades Carvana, JPMorgan downgrades Blackstone, Morgan Stanley, Eli Lilly, Davidson, Davison, Oppenheimer, Baird, Wedbush, Goldman Sachs Organizations: . Bank of America, . Bank of America downgrades Herc Holdings, Bank of America, Hollywood, NA, Green, DFS, JPMorgan, Novo Nordisk, BMO, Consolidated Edison, of America, Deutsche Bank, Sirius, Nvidia, Microsoft Locations: 2Q23

☆ Google cofounder Sergey Brin frequently works at the company's HQ to help develop ChatGPT rival Gemini, report says
▼ + stars: | 2023-07-21 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Brin is frequently showing up at Google HQ to help its AI efforts, The Wall Street Journal reported. He is reportedly deeply involved in the development of Gemini, an AI model that aims to rival GPT-4. Google cofounder Sergey Brin is reportedly showing up often at the search giant's headquarters to help develop ChatGPT rival Gemini and boost its AI ambitions. Google is pouring efforts into Gemini, an AI model designed to rival the GPT-4 model underlying OpenAI's technology. This week, Google's AI ambitions faced another threat as Meta unveiled Llama 2.

Persons: Sergey Brin, Brin, GPT, Larry Page, Sundar Pichai, Demis Hassabis Organizations: Google, Street Journal, Gemini, Morning, The New York Times, Wall Street, Meta, Microsoft Locations: The

☆ Brands are pouring money into film and TV — meet 13 marketers making the biggest moves as Hollywood's new financiers
▼ + stars: | 2023-07-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +10 min

It's not just Barbie — lots of big brands are getting serious about making Hollywood-style entertainment. Insider identified 13 new and established players making the biggest moves in the space. "Barbie" may be the movie of the summer, but lots of other big brands are getting serious about making Hollywood-style entertainment. Neutrogena: Neutrogena Studios launched in 2021 and is J&J Consumer's first brand-funded content studio to make feature documentaries and scripted shorts. PepsiCo: PepsiCo's Content Studio is led by veteran PepsiCo marketer Lou Arbetter.

Persons: It's, Ron Howard, Brian Grazer's, Oscar, Michael Sugar, Brian Newman, REI, Michael Sugar's, Jae Goodman, Lauren Denowitz, Coke, Brian Grazer, Ron Howard's, Selman Careaga, John Deere, Mara Downing, Al Roker, Jill Wilfert, Ryan Gosling, Margot Robbie, Barbie, Ken, Jaap Buitendijk, Robbie Brenner, J.J, Abrams, Lena Dunham, Barney, Daniel Kaluuya, J, Sebastian Garcia, Laurie Hernandez, Matt Damon, Ben Affleck's, Entertainment —, Justin Biskin —, Howard, Lou Arbetter, Max, Robert Rodriguez, Nadia Hallgre, Stanley Nelson, Arbetter, Procter, Kimberly Doebereiner, Paolo Mattola, Kyra Sedgwick, Watiti, Saint Laurent, Anthony Vaccarello, Saint, Pedro Almodóvar, Ethan Hawke, Pedro Pascal, it's, Paolo Sorrentino, David Cronenberg, Kelly Mullen, Bryce Dallas Howard, Lena Waithe, WePresent, Holly Fraser, Moses Sumney, Solange Knowles, Riz Ahmed, Aneil, Fraser Organizations: Hollywood, Procter, Gamble, Companies, Brands, Unilever, InBev, Waffle Iron Entertainment, draftLine Entertainment, Netflix, Coca Cola, Entertainment, Global, Deere, Warner Bros, Warner Brothers, Universal Studios, Mattel, Neutrogena Studios, Studio, Kerry, Seattle Film, Ghetto Film, HBO Nike, Nike, Waffle, Apple, HBO, PepsiCo, Pepsi Super, Showtime, Pepsi, G Studios, Imagine, Amazon's, Hulu, Paramount, Blue Fox Entertainment, Saint Laurent Productions, Unilever Entertainment, Imagine Entertainment, Monotype Locations: Hollywood, Kerry Washington, American, Cannes, Britain

☆ Here are Thursday's biggest analyst calls: Tesla, Netflix, Chevron, Alphabet, Apple, Nvidia, IBM and more
▼ + stars: | 2023-07-20 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Tesla as equal weight Morgan Stanley said it's standing by its equal-weight rating on Tesla after its earnings report Wednesday. Morgan Stanley upgrades Anheuser-Busch InBev to overweight from equal weight Morgan Stanley said the beer giant's valuation is attractive right now. Morgan Stanley reiterates Microsoft as overweight Morgan Stanley said the company is a top pick heading into earnings next week. Bank of America reiterates Alphabet as buy Bank of America said it's bullish on the stock heading into earnings next week. Bank of America reiterates IBM as buy Bank of America said it's standing by its buy rating on the artificial intelligence beneficiary after its earnings report Wednesday. "

Persons: it's, Morgan Stanley, Tesla, Bud, Wolfe, NVDA, Estée Lauder, Skyworks, McDonald's, Wells, Wells Fargo, it's bullish, Goldman Sachs, ServiceNow Organizations: Credit Suisse, Apple, Suisse, Vision, Tesla, Anheuser, Busch InBev, RBC, Nvidia, Barclays, UBS, Chevron, Bank of America, Netflix, Deutsche Bank downgrades Avis Budget, Deutsche Bank, Avis Budget, Walmart, " Bank of America, IBM, Citi Locations: underperform, China

☆ Netflix is about to report earnings — here's what to expect
▼ + stars: | 2023-07-19 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

Netflix reports second-quarter earnings on Wednesday and investors will pay close attention to the streaming giant's crackdown on password sharing, as well as the recently launched ad-supported tier. Here's what analysts are expecting for the quarter, according to Refinitiv:Earnings: $2.86 per share$2.86 per share Revenue: $8.30 billionIn May, Netflix began alerting members about its new sharing policy, which prevents freeloaders from sharing accounts. Netflix saw its subscriber base rise weeks after the rollout, according to a report from Antenna. Investors will also watch for any details Netflix provides on its recently launched cheaper, ad-supported tier. During its pitch to advertisers in May, Netflix unveiled few details about its ad-supported tier, albeit enough to push its stock higher.

Persons: MoffettNathanson, Wells, Steven Cahall Organizations: Netflix, Media, Hollywood Locations: Wells Fargo

☆ Netflix Reports Earnings Today: What to Expect
▼ + stars: | 2023-07-19 | by ( ) www.wsj.com time to read: 1 min

Analysts expect Netflix to report second-quarter earnings of $2.85 a share, on revenue of $8.29 billion. (Caroline Brehman/Shutterstock)Netflix is due to report second-quarter earnings after the market close, and investors will be scrutinizing the streaming giant's subscriber numbers. Last year, Netflix for the first time suffered two straight quarters of subscriber losses. In May it began a crackdown on password sharing, a move that drove up new subscribers in the days that followed.

Persons: Caroline Brehman Organizations: Netflix

☆ Microsoft's market value soared as much as $154 billion in just a day. That nearly matched Jeff Bezos' entire fortune.
▼ + stars: | 2023-07-19 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +3 min

Microsoft gained as much as $154 billion in market cap in a single day after unveiling the Copilot subscription service. The tech giant is poised to become the second company ever to reach a $3 trillion valuation, according to Morgan Stanley. That saw its market cap balloon by as much as the above-mentioned figure during intraday trades, before ending the session with a $102 billion increase. Amazon founder Bezos' wealth totaled $157 billion as of Tuesday, according to the Bloomberg billionaires index. Their combined value now stands at an eye-watering $11 trillion – which, to offer another comparison, is nearly triple the GDP of Germany.

Persons: Jeff Bezos's, Morgan Stanley, Jeff Bezos, Bezos, OpenAI's, Tesla, Morgan Stanley's Keith Weiss Organizations: Microsoft, Service, Bloomberg, Apple, Nvidia Locations: Wall, Silicon, OpenAI, Germany

In its latest quarter, Netflix posted earnings of $3.29 per share on revenue of $8.19 billion. IBM — The business services company's shares shed 0.7% following its mixed second-quarter earnings report. The company posted revenue of $15.48 billion, missing Wall Street's forecast of $15.58 billion, according to Refinitiv. IBM reported adjusted earnings of $2.18 per share, which was higher than analysts' consensus estimate of $2.01 per share. Tesla — Tesla shares fluctuated near the flatline following its second-quarter earnings announcement.

Persons: Refinitiv, Zions Organizations: Netflix, IBM, United Airlines — United Airlines, American Airlines, Zions Bancorp, Las Vegas Sands, Vegas Sands, Discover Locations: Newark , New Jersey, Las Vegas

Here's the latest AI developments at Salesforce, Apple and Microsoft — along with our take on the news. A generative AI experience built into Apple devices, however, would be an entirely new feature for users. Apple's smart assistant Siri would be the natural place to implement generative AI within the Apple ecosystem. The company promotes both generative AI tools as a way to improve productivity . We've long believed this to be true – and that's why we greeted Salesforce's price-hike announcement last week with open arms – but Wednesday's incremental generative AI updates reinforce our conviction.

Persons: Morgan Stanley, Microsoft's, Jim Cramer, ChatGPT, Bing, OpenAI's ChatGPT, BARD, Siri, Salesforce, Einstein, Morgan Stanley's, Jim Cramer's, Jim, Chino Organizations: Microsoft, Apple, Big Tech, Nasdaq, Barclays, Bloomberg, Google, Einstein, CNBC Locations: Wall, Silicon Valley, Wells Fargo

☆ Teladoc Health expands Microsoft tie-up to automate documentation with AI
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

July 18 (Reuters) - Teladoc Health (TDOC.N) is expanding a partnership with Microsoft (MSFT.O) to use the tech giant's artificial intelligence services to automate clinical documentation on its telehealth platform. The integration of AI services including Microsoft's OpenAI, owner of viral chatbot ChatGPT, will help ease the burden on healthcare staff during virtual exams, Teladoc said on Tuesday. The companies have been collaborating since the height of the COVID-19 pandemic in 2021, wherein Teladoc integrated its Solo virtual healthcare platform into Microsoft Teams. Teladoc will now also use Microsoft's Nuance Dragon Ambient eXperience, an AI-powered voice-enabled solution that uses the GPT4 AI service, to automatically document patient encounters, the telehealth company said. Reporting by Leroy Leo in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Microsoft's OpenAI, Teladoc, Leroy Leo, Devika Organizations: Teladoc, Microsoft, Thomson Locations: Bengaluru

☆ Here are Tuesday's biggest analyst calls: Apple, Alphabet, Pinterest, Netflix, Amazon, Nvidia & more
▼ + stars: | 2023-07-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Jefferies reiterates Apple as buy Jefferies said it's expecting a "quiet quarter" when the company reports earnings Aug. 3. Wells Fargo reiterates Netflix as overweight Wells said it's bullish heading into the company's earnings report Wednesday. Jefferies reiterates Alphabet as buy Jefferies said it's bullish heading into Alphabet earnings next week. Bank of America downgrades Lumentum to neutral from buy Bank of America called the stock an "overstated" AI beneficiary. JPMorgan reiterates Amazon as overweight JPMorgan said the e-commerce giant is its top pick heading into earnings. "

Persons: Jefferies, it's, Wells, Truist, Piper Sandler, Dave, Buster's, Piper, Bernstein, Goldman Sachs, Goldman, Max, Roth, Uber, Roth MKM, it's bullish, Morgan Stanley, Evercore, Marvell, Williams Deutsche, Sherwin Williams, JPMorgan Organizations: Apple, Netflix, Argus, Warner Brothers Discovery, Citi, Polaris Citi, 2Q, Bank of America, Nvidia, American Express, Digital, Marvell Technology Inc, Global, Inc, Deutsche Bank, Sherwin, JPMorgan Locations: capex

☆ Earnings playbook: Netflix and Tesla are set to report this week as reporting season ramps up
▼ + stars: | 2023-07-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +8 min

Tuesday Bank of America is set to report earnings before the bell, followed by a call at 8:30 a.m. Morgan Stanley is set to report earnings in the premarket, with a conference call slated for 9:30 a.m. Wednesday Goldman Sachs is set to report earnings before the market opens, followed by a call at 9:30 a.m. Tesla is set to report earnings after the close, with a call slated for 5:30 p.m. What history shows: Netflix earnings have exceeded earnings expectations in seven of the last 10 quarters, FactSet data shows.

Persons: Wells, Keith Horowitz, Morgan Stanley, Morgan Stanley's, BofA's Ebrahim Poonawala, Morgan, Goldman Sachs, Marcus, Goldman, UAL, Leslie Josephs, Scott Kirby's, Tesla, Toni Sacconaghi, NFLX, AAL Organizations: Tesla, Netflix, United Airlines, JPMorgan Chase, Citigroup, JPMorgan, Tuesday Bank of America, Refinitiv, CNBC, Bank of America, Citi, Goldman, IBM, Thursday, Airlines, Northeast U.S, JetBlue, Northeast Alliance Locations: America, Wells Fargo, Newark, Northeast

☆ Uber's stock growth is largely due to the demise of Lyft as a competitor, says DPCM's Emil Michael
▼ + stars: | 2023-07-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUber's stock growth is largely due to the demise of Lyft as a competitor, says DPCM's Emil MichaelEmil Michael, former Uber chief business officer, joins 'Tech Check' to talk the ride share giant's recent stock pop, competition in the space and more.

Persons: DPCM's Emil Michael Emil Michael Organizations: Uber

☆ Stocks making the biggest moves midday: UnitedHealth, JPMorgan Chase, Microsoft, JetBlue and more
▼ + stars: | 2023-07-14 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

JPMorgan Chase — Shares fell slightly even after the bank reported stronger-than-expected results for the second quarter, as it benefited from higher interest rates and better-than-expected bond trading. Wells Fargo — Wells Fargo shares rose slightly after the Wall Street firm topped second-quarter expectations. The Wall Street firm also said AT&T's exposure to cable may limit the upside for shares. Alcoa — The aluminum stock fell 4.9% following a downgrade to neutral from overweight by JPMorgan. Eli Lilly — The pharmaceutical stock rose 3% in midday trading.

Persons: JPMorgan Chase, Wells, UnitedHealth, Eli Lilly, Yun Li, Alex Harring, Sarah Min, Michelle Fox Organizations: JPMorgan, JPMorgan Chase —, Elevance, Citigroup —, JetBlue Airways, American Airlines — JetBlue Airways, American Airlines, Microsoft, UBS, Blackrock —, Alcoa, Progressive Locations: Wells, York

Disney wants Judge Margaret Schreiber in Orlando to dismiss a lawsuit filed in May by the Central Florida Tourism Oversight District, which controls development around the company's theme parks. The lawsuit seeks to void "backroom deals" favorable to Disney that the district alleges were struck with a prior district board and in violation of state law. Lawmakers also retroactively invalidated agreements that Disney reached with the prior board on the eve of it being brought under DeSantis's control. Such a ruling would allow the company to focus on its federal case, which claims DeSantis violated the company's constitutional right to free speech. "If Disney's contracts are void, nearly all of Disney's claims in the federal case disappear," the district said in a court filing.

Persons: Octavio Jones, Ron DeSantis, Margaret Schreiber, DeSantis, Disney, Lawmakers, Tom Hals, Deepa Babington Organizations: Walt Disney, REUTERS, Walt, Co, Walt Disney Co, Disney, Central, Republican, Improvement, Thomson Locations: Orlando , Florida, U.S, WILMINGTON , Delaware, Florida, Orlando, Central Florida, Wilmington , Delaware

☆ JPMorgan's Jamie Dimon reels off a list of dangers to the US economy - and warns they could inflict serious damage
▼ + stars: | 2023-07-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Jamie Dimon flagged a long list of threats facing the US economy on Friday. He's worried about consumer spending, inflation, quantitative tightening, fiscal deficits, and war. "The war in Ukraine continues, which in addition to the huge humanitarian crisis for Ukrainians, has large potential effects on geopolitics and the global economy," he added. If any of those dangers hit the US economy, it's unclear whether they would cause a "soft landing, a mild recession, or a hard recession," he added. Dimon shared similar concerns in an interview with The Economist released earlier this week, and has previously warned there are myriad threats facing the global economy.

Persons: Jamie Dimon, He's, Dimon Organizations: JPMorgan, Service, AlphaSense, Federal Reserve Locations: Wall, Silicon, JPMorgan's, Ukraine

☆ Eli Lilly to acquire obesity drug maker Versanis for $1.9 billion
▼ + stars: | 2023-07-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Eli Lilly on Friday said it will acquire Versanis, a privately held obesity drug maker, for up to $1.93 billion to boost the pharmaceutical giant's weight loss treatment portfolio. Eli Lilly agreed to pay Versanis shareholders in cash, which will consist of an upfront payment and potentially subsequent payments if Versanis achieves certain "development and sales milestones." Oakland, California-based Versanis, which was founded in 2021 by biotech investment firm Aditum Bio, has one experimental drug for obesity and potentially other conditions. Analysts project that the global weight loss drug market could be worth $100 billion by around 2030. Versanis' drug, bimagrumab, binds directly to certain cells in the body to reduce fat mass.

Persons: Eli Lilly, Versanis, Aditum, Eli Lilly's Organizations: Novo Nordisk, Novo Nordisk's Wegovy Locations: Oakland , California, Ozempic, U.S, Indianapolis

☆ Jim Cramer's plans for Disney stock after everything we learned from CEO Bob Iger
▼ + stars: | 2023-07-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Hulu As part of Disney's future streaming business, Hulu is expected to be a strategic asset. "I don't think that Bob's going to get out of paying very little for Hulu," Jim said, which could lead to further pressure on the entertainment giant's balance sheet. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. Disney CEO Bob Iger speaking with CNBC's David Faber at the Allen&Co.

Persons: Walt Disney, Bob Iger's, —, Jim Cramer, Bob, Jim, Bob Iger —, Iger, Bob Chapek, ESPN Iger, Ron DeSantis, DeSantis, Iger's, Jim Cramer's, Bob Iger, CNBC's David Faber, David A Organizations: Disney, CNBC, Sun, ESPN, Apple, Apple Vision, Hulu, Comcast, Parks, Flordia, Netflix, Disney Entertainment, Allen, Grogan Locations: Idaho, Wells Fargo, Hulu, Florida, Sun Valley , Idaho

☆ BlackRock has a 'responsibility to democratize investing,' including in crypto, Larry Fink says
▼ + stars: | 2023-07-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Andrew Ross Sorkin speaks with BlackRock CEO Larry Fink during the New York Times DealBook Summit in the Appel Room at the Jazz At Lincoln Center on November 30, 2022 in New York City. BlackRock 's move into crypto fits into the asset management giant's broader mission of creating products that are easy to use and cheap for investors, CEO Larry Fink said Friday. Fink had previously been critical of crypto, saying in 2017 that the popularity of digital currencies was do in large part to money laundering. However, interest from clients and the high cost of transactions motivated BlackRock to take a closer look at entering the space, Fink said. BlackRock reported its second-quarter results on Friday, earning $9.28 in adjusted earnings per share on $4.46 billion in revenue.

Persons: Andrew Ross Sorkin, Larry Fink, We've, Fink, BlackRock Organizations: BlackRock, New York Times DealBook, Jazz At Lincoln Center, Securities, Exchange Commission, SEC Locations: New York City, cryptocurrencies

It can boost security, especially for small organizations that lack the resources to run their own IT or security departments. But competitors squeezed by Microsoft's security offering are sounding the alarm over how wide swaths of industry and government were effectively putting all their eggs in one basket. Adair said he understood that Microsoft wanted to make money from its premium security product. He noted that the hackers - which Microsoft nicknames Storm-0558 - were caught only because someone at the State Department with access to Microsoft's top-of-the-line logging noticed an anomaly in their forensic data. "Having Microsoft further empower customers and security companies so they can work together is probably the best way," Adair said.

Persons: Steven, Adair, Gina Raimondo, Microsoft, Ron Wyden, Redmond, Adam Meyers, CrowdStrike, Raphael Satter, Matthew Lewis Organizations: Microsoft, NASA, Reuters, U.S, State Department, Storm, Thomson Locations: cyberdefense, U.S, Washington

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