Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "giant's"


25 mentions found


June 30 (Reuters) - The Russian rouble slumped to a more than 15-month low against the dollar and euro on Friday, weighed down by domestic political risk concerns after an aborted armed mutiny over the weekend and lacking support drivers. By 0734 GMT, the rouble was 0.8% weaker against the dollar at 88.26 after earlier hitting 88.6775, its weakest point since March 29, 2022. It lost 0.9% to trade at 95.97 versus the euro after also hitting a 15-month low of 96.3225. The rouble lost a key support factor on Wednesday as a month-end tax period that typically sees exporters convert foreign currency revenues to meet local liabilities passed. The rouble-based MOEX Russian index (.IMOEX) was 0.4% lower at 2,785.8 points.
Persons: Yevgeny Prigozhin's, Vladimir Putin's, Alexander Marrow, Jamie Freed, Robert Birsel Organizations: Alor Broker, Gazprom, Thomson Locations: Russian, Alor, Russia, Ukraine, Moscow, Brent
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple will remain a buy over the next 3-5 years because of earnings power, says Oppenheimer's YangMartin Yang, senior analyst at Oppenheimer, joins 'Squawk on the Street' to discuss whether Apple's market capitalization can keep going, the tech giant's service revenue, and the risk to Apple's growth.
Persons: Oppenheimer's Yang Martin Yang, Oppenheimer Organizations: Apple
Microsoft CEO Satya Nadella plans to use AI to attract Gen Z users, a new internal memo shows. A "relatively low share" of Gen Z users compared to competitors, could be a "long-term risk". The confidential internal memo was briefly published online this week by federal antitrust regulators. Last year, the company's research division released a study on the preferences of Gen Z and Millennial office workers. "Something interesting I've noticed teaching is, Gen Z just does not use Microsoft Word, period.
Persons: Satya Nadella, Nadella, Gen Z, Gen Z's Organizations: Activision Blizzard, Microsoft, Excel, Federal Trade Commission, Google
Apple's Market Cap Touches $3 Trillion
  + stars: | 2023-06-30 | by ( ) www.wsj.com   time to read: 1 min
The tech giant's stock traded at $192.23, up about 1.4%, shortly after the opening bell. The threshold for the $3 trillion level was $190.734. The iPhone maker is on track to be the first company to close with a valuation of $3 trillion or higher. The recent jump in its shares makes the company worth more than five of the S&P 500's 11 sectors, according to Dow Jones Market Data.
Organizations: Dow Jones Market
More established streamers have had the most success growing their ad tiers. The findings come as Apple TV+ is rumored to be planning to join the other major streamers in chasing video advertising. Apple hired ad exec Lauren Fry earlier this year to build out the business, The Information reported, stoking speculation about its ad plans. And the streamers that have had an ad-supported tier for a while may have a first-mover advantage, the Antenna data suggests. AntennaNetflix and Disney+, meanwhile, whose ad tiers are the newest — having launched late last year — have only 2% and 5% of their subscribers opting for ads, respectively.
Persons: Peacock, Lauren Fry, Hulu, Discovery's Max, Jonathan Carson Organizations: Hulu, Apple, Paramount, Warner Bros, Netflix, Disney Locations: Hulu
Tesla's sizzling rally won't last forever due to old-guard rivals like Ford producing more EVs, according to one analyst. The tech giant's shares have soared 109% in 2023 thanks to a breakneck rally since late April. But some of Wall Street's biggest names – including Goldman Sachs and Morgan Stanley – are warning the stock now looks overvalued. Tesla's stock has soared 109% in 2023, on track for the biggest six-month gain since 2020. Read more: Tesla stock's best run since 2020 is spoilt by Wall Street downgrades as Goldman Sachs, Morgan Stanley flag overvaluation risks
Persons: Tesla's, Goldman Sachs, Morgan Stanley –, , Craig Irwin, I've, you've, – Ford, General Motors, that's, Tesla, Musk, Linda Yaccarino, Morgan Stanley, Irwin Organizations: Service, ROTH Capital Partners, Elon, Ford, GM ramping, Yahoo Finance, General, Big Tech, EV, Barclays, Yahoo, Tesla Locations: Wall
Analysts remain bullish on Nike's direct-to-consumer strategy and brand momentum, even after the sports apparel giant's disappointing earnings results. Her $145 price target implies 27% upside from Thursday's close. He cited Nike's better-than-expected revenue, improving inventories, as well as no change to the brand's momentum in its direct-to-consumer strategy. Boss lowered his price target to $142 from $146. Her $125 price target, lowered from $135, is just 10% above Tuesday's closing price.
Persons: Goldman Sachs, Kate McShane, McShane, JPMorgan's Matthew Boss, Nike's, Friend, Boss, Bank of America's Lorraine Hutchinson, Hutchinson, — CNBC's Michael Bloom Organizations: Nike, Refinitiv, Bank of Locations: Bank of America's, North America
Apple's market value breaches $3 trillion mark again
  + stars: | 2023-06-30 | by ( Tiyashi Datta | ) www.reuters.com   time to read: +2 min
Shares of Apple, which is also the world's most valuable- listed company, were up 1.6% at $192.6, after touching a record high of $193.15 during the day. They have jumped nearly 46% this year and, at the current price, the company's market value stands at around $3.02 trillion. Apple's market value briefly peaked at above $3 trillion in intra-day trading on Jan. 3, 2022, before closing the session just below that mark. Apple's 12-month forward price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 29.49, well above the sector median of 13.14, according to Refinitiv data. Currently, four other U.S. companies have a valuation of more than $1 trillion - Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Nvidia Corp (NVDA.O) and Microsoft Corp (MSFT.O), which is a close second with a market value of $2.49 trillion.
Persons: Atif Malik, Microsoft's, Tiyashi Datta, Anil D'Silva Organizations: Apple, Citigroup, Federal, Amazon.com Inc, Nvidia Corp, Microsoft Corp, Tesla, Nvidia, Reuters, Thomson Locations: Bengaluru
DIS YTD mountain Disney's year-to-date stock performance. Over the past 12 months, Disney's performance has been worse, falling nearly 8%. So, it's easy to understand KeyBanc's frustration with Disney's stock. TJX YTD mountain TJX Companies' year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance.
Persons: Walt Disney, KeyBanc, Piper Sandler, Piper Sander, TJ Maxx, TJX, it's, we're, Jim Cramer's, Jim Cramer, Jim, Joe Raedle Organizations: TJX Companies, Disney, Management, Wall Street, Burlington Stores, Ross Stores, Marshalls, UBS, JPMorgan, Bloomberg, Federal Trade Commission, Amazon, Google, FTC, CNBC, Walt Disney World, Getty Locations: Orlando , Florida
Netflix should have more steam in its rally thanks to the advertisement-enabled tier, Citi said. "We are more bullish on the likely success of the Ad Tier," he said in a note to clients Wednesday. Netflix shares were up 1.8% in premarket trading Thursday. NFLX YTD mountain Netflix, year to date Bazinet now expects Netflix will get 82 million incremental subscriptions from the lower-cost, ad-enabled tier. Quarterly results should also be helped by the password sharing crackdown, which could in turn lead to more ad-tier subscribers.
Persons: Jason Bazinet, Bazinet, it's, — CNBC's Michael Bloom Organizations: Netflix, Citi Locations: U.S
Apple's stock price has surged in 2023, putting the company on the verge of a $3 trillion valuation. "While Apple is a great company, there's not a ton of fundamentals driving this right now," Cleo Capital managing director Sarah Kunst told CNBC's "Last Call" Wednesday. she added, referring to the Vision Pro mixed reality headset Apple launched at the start of June. The tech giant's shares have surged 46% year-to-date, raising its total market capitalization to $2.98 trillion. But some on Wall Street are more bullish on the tech giant, with both Wedbush and Fairlead Strategies recently forecasting its valuation will hit $4 trillion around the end of next year.
Persons: Cleo Capital's Sarah Kunst, , there's, Cleo, Sarah Kunst, CNBC's, Steve Weiss Organizations: Service, Apple, Cleo Capital, Vision, Hills, Big Tech, Federal, Nasdaq
But Shopify's logistics acquisitions, which came with around 550 more staff altogether, started to look like dead weight after the shine of the initial announcements wore off. By the beginning of 2023, the attitude toward logistics inside Shopify had shifted to palpable frustration, four people who worked for Shopify's logistics division said. Lance McMillan/Toronto Star via Getty ImagesIndependent of logistics, Shopify saw massive cultural shifts in the past several years. One core tenet of Shopify's work culture is "default to open," meaning it values transparency and sharing information with employees. The letter referred to Shopify's logistics work of the past four years as a "side quest" that distracted the company from its "main quest."
Persons: Shopify, it's, Oppenheimer, Ken Wong, Lance McMillan, crafters, Tobias Lütke, Slack, , Lütke, Shopify's, I've, Toby Shannan, Morgan Stanley, Jeff Hoffmeister, Bobby Morrison, Allan Leinwand, Kaz Nejatian, Nejatian, Madeline Stone, Emma Cosgrove Organizations: Employees, Amazon, Systems, Kiva Systems, Toronto Star, Getty, miscalculating, Facebook, ecosgrove Locations: Shopify, Ottawa , Ontario, , Silicon
At least seven analysts trimmed their fiscal 2024 expectations for Nike's earnings per share since the beginning of June and 10 slashed their price targets on the company's stock, ahead of its fourth-quarter results. "Coming into this current calendar year ... wholesale orders are weak at the moment," said Morningstar analyst David Swartz, adding that declines in these orders will have a negative impact on Nike. Reuters GraphicsTHE CONTEXTIn March, Nike warned of earnings pressure amid its attempts to get rid of excess inventory through heavy discounts. In May, retailer Foot Locker, which has touted its 'renewed' relationship with Nike, also flagged declining sales, particularly for fashion-oriented sneakers. Barclays analysts noted Nike could see "moderation, and potentially negative, wholesale channel growth" in the fourth quarter.
Persons: David Swartz, Jane Hali, Jessica Ramirez, Kanye, Ananya Mariam Rajesh, Krishna Chandra Organizations: Nike, Wall, Associates, Adidas, Jordan Retro, LeBron, Nike Brand, Barclays, Reuters, Refinitiv, Thomson Locations: United States, China, Bengaluru
Although it's the third-largest retailer in the world, most of its profit comes from membership fees. The recent news shows how wholesale clubs like Costco have more in common with Netflix than Walmart. Although Costco is the third-largest retailer in the world, its reliance on membership fees means it's in some ways more like Netflix than Walmart. Other operating costs, like payroll and utilities, mean the company retained less than $3.5 billion from its top-line sales last year. High costs have led Costco, Netflix to crack downFor years now, both Costco and Netflix have been content to look the other way as paying members shared passwords and ID cards in violation of their respective policies.
Persons: Organizations: Costco, Netflix, Walmart, Service, Sam's
Handful of price target bumps on Snowflake (SNOW) following the company's investor day. Canaccord also catching up on its price target, cutting it to $720 per share from $953. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: MoffettNathanson, Oppenheimer, Mills, downgrades, Canaccord, Wolfe, Jim Cramer's, Jim Cramer, Jim Organizations: Dow, Street Journal, Nvidia, Walgreens Boots Alliance, Deutsch Bank, Barclays, JPMorgan, Club, Nike, Electric, GE, Paris Airshow, CNBC Locations: China, downgrades, Wells Fargo, Wells
Hong Kong observation wheel, and the Hong Kong and Shanghai Bank, HSBC building, Victoria harbor, Hong Kong, China. Ucg | Universal Images Group | Getty ImagesThe U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management. "The coming recession scenario will be more like the early 1990s recession, with our central scenario being a 1-2% drawdown in GDP," Little added. HSBC expects the recession in Western economies to result in a "difficult, choppy outlook for markets" for two reasons. HSBC remains overweight on Chinese stocks for this reason, and Little said the "diversification of Chinese equities shouldn't be underestimated."
Persons: Joseph Little, Little, HSBC's Little Organizations: Shanghai Bank, HSBC, Ucg, Getty, HSBC Asset Management, Global, CNBC, U.S . Federal Reserve, European Central Bank, Bank of England, Fed Locations: Hong, Hong Kong, Victoria, China, Europe, India
Protesters in Seattle join a Starbucks Workers United strike over what the union alleges is a change in policy over Pride décor in stores. More than 150 stores pledged to join the strikes around the country, representing nearly 3,500 workers, Workers United said. In the NLRB complaint Monday tied to the union's allegations, Starbucks said the "union and its agents have engaged in a smear campaign that includes deliberate misrepresentations to Starbucks partners." "The union's violations have ignited and inflamed workplace tension and division and provoked strikes and other business disruptions in Starbucks stores," Starbucks said in the filing. "While attacking the union that represents its own workers, Starbucks has now changed its policies in response to worker actions.
Persons: baristas, Sara Trilling, Trilling, Bud, — CNBC's Amelia Lucas Organizations: Starbucks Workers United, Pride, Starbucks, National Labor Relations Board, Starbucks Workers, Workers, U.S, North America, Conservative Locations: Seattle, America
Giant Food, a mid-Atlantic grocery chain, could close stores due to theft, President Ira Kress said. He told WTOP that Giant is also limiting the number of items that customers can buy at self-checkout. This time, it's Giant Food, which operates about 170 stores in Delaware, Maryland, Virginia, and Washington, DC. Giant President Ira Kress told Washington DC radio station WTOP on Monday that thieves are stealing "everything," from shrimp to deodorant, at Giant's stores. Last year, Walmart CEO Doug McMillon said that the retailer could close stores or raise prices if theft continued.
Persons: Ira Kress, WTOP, , Kress, he's, Doug McMillon Organizations: Service, Giant, Washington DC, Walmart, Foods, New York Times, Walgreens Locations: Delaware , Maryland, Virginia, Washington, Maryland, San Francisco, Amazon
A spokesman for Disney did not immediately respond to CNBC's request for comment on the court filing. The 27-page motion to dismiss was filed by attorneys for DeSantis and Meredith Ivey, named as secretary for Florida's Department of Economic Opportunity. "Disney lacks standing to sue the Governor and Secretary, who are also immune from suit," they argued in a filing in U.S. District Court in Tallahassee. After Disney criticized the Republican-backed classroom bill, DeSantis and his allies moved to dissolve that special tax district. Days later, the DeSantis-appointed board countersued in state court.
Persons: Ron DeSantis, , Donald Trump, Meredith Ivey, DeSantis, Ivey, Disney's, Disney Organizations: Florida Gov, Disney, Republican, GOP, DeSantis, Florida's Department of Economic, Florida's Walt Disney, Improvement, Central, State, Governor Locations: DeSantis, Tallahassee, Florida's, Central Florida
Alphabet The news: Analysts at UBS lowered their rating on Alphabet to neutral from buy but increased their price target to $132 per share from $123. Analysts expect the company's use of generative AI to be the "next leg to shares," and its use of AI tools should help the company "be viewed as an AI winner." Though Meta shares fell 3.5% to $278 each Monday. Reacceleration of revenue growth at Amazon's cloud unit, Amazon Web Services (AWS) into the fourth quarter of this year, should be a catalyst for the stock, analysts said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Eric Schmidt, Jim, We're, Meta, Mark Zuckerberg, there's, Zuckerberg, Roth, Jim Cramer's, Jim Cramer, Sebastien Bozon Organizations: CNBC, Nasdaq, UBS, Google, Club, Microsoft, Facebook, Meta, Apple, Amazon Web Services, AFP, Getty Locations: Mulhouse
Prime members are more likely to buy groceries online at Walmart than Amazon's stores, per a survey. Previously, Prime members could get free delivery from Amazon Fresh if they ordered at least $35 in items. Although they tend to prefer Walmart, Amazon Prime members are much more likely to order from Whole Foods than non-Prime members are. Noam Galai/ContributorDespite Walmart gaining ground, Coresight found that Prime members were still more likely than non-Prime subscribers to order from Amazon-owned grocers. Do you work or shop at an Amazon Fresh or Whole Foods store and have a story to share?
Persons: , Sujeet Naik, Naik, Coresight, Noam Galai, Jason Buechel, Alex Bitter Organizations: Walmart, Foods, Service, Amazon Prime, Coresight Research, Amazon, Kroger, Costco, Shoppers Locations: Bentonville , Arkansas
US President Joe Biden looks on as India's Prime Minister Narendra Modi speaks during a meeting with senior officials and CEOs of American and Indian companies, in the East Room the White House in Washington, DC, on June 23, 2023. Amazon.com will invest an additional $15 billion in India, the company's Chief Executive Andy Jassy told Prime Minister Narendra Modi in his meeting on Friday. The investment will take the e-commerce giant's total India investment across all businesses to $26 billion by 2030, he said. Separately, Google will open a global fintech operation center in GIFT City in India's western state of Gujarat, CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company. "We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," Pichai said.
Persons: Joe Biden, Narendra Modi, Andy Jassy, Modi, Jassy, Sundar Pichai, Pichai Organizations: India's, Amazon.com, Web Services, Google, Twitter Locations: Washington ,, India, City, India's, Gujarat
Amazon commits to $15 billion India investment, CEO says
  + stars: | 2023-06-24 | by ( ) www.reuters.com   time to read: +1 min
June 23 (Reuters) - Amazon.com Inc (AMZN.O) will invest an additional $15 billion in India, the company's Chief Executive Andy Jassy told Prime Minister Narendra Modi in his meeting on Friday. The investment will take the e-commerce giant's total India investment across all businesses to $26 billion by 2030, he said. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitization, and empowering individuals and small businesses to compete globally, an Amazon blog post said. "We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," Pichai said. ($1 = 81.9800 Indian rupees)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.
Persons: Andy Jassy, Narendra Modi, Modi, Jassy, Sundar Pichai, Pichai, Tim Cook, Google's, Satya Nadella, Jahnavi, William Mallard Organizations: Amazon.com Inc, Web Services, Google, Twitter, U.S, Thomson Locations: India, City, India's, Gujarat, Washington, Bengaluru
Amazon raises investment in India to $26 bln by 2030
  + stars: | 2023-06-24 | by ( ) www.reuters.com   time to read: +2 min
[1/2] A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail. The new investment amount committed now comes to around an additional $6.5 billion. The e-commerce giant's announced investment during Modi's trip adds to other companies, including U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit. Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.
Persons: Francis Mascarenhas, Andy Jassy, Narendra Modi, Jassy, Walmart's Flipkart, Mukesh Ambani's, Modi, Sundar Pichai, Tim Cook, Google's, Satya Nadella, Aditya Kalra, William Mallard, Jacqueline Wong, Toby Chopra Organizations: Amazon Prime, REUTERS, Amazon.com Inc, Web Services, Amazon, giant's, Micron Technology, Google, Reuters, Twitter, U.S, Thomson Locations: Mumbai, India, DELHI, United States, U.S, City, India's, Gujarat, Washington
HAL YTD mountain Halliburton's year-to-date stock performance. AMZN YTD mountain Amazon's year-to-date stock performance. GOOGL YTD mountain Alphabet's year-to-date stock performance. That's lagged many other large-cap tech peers over the same stretch, including Club stock Nvidia (NVDA), which climbed 11%, and Adobe (ADBE), which advanced 10%. PANW YTD mountain Palo Alto Networks' year-to-date stock performance.
Persons: It's, hasn't, it's, Halliburton, We're, we'd, it'd, what's, we're, Linde, Jim Cramer's, Jim Cramer, Jim, Pat Carter Organizations: Halliburton, HAL, Linde, LIN, Palo Alto Networks, Wall, Club, Coterra Energy, Federal, Amazon, Amazon Web, Microsoft, Nvidia, Adobe, Networks, CNBC, Getty Locations: Thursday's, Palo, U.S, Europe, Stillwater , Oklahoma
Total: 25