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☆ Why Starbucks, Nike and Boeing are looking for a time machine
▼ + stars: | 2024-10-25 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Three quintessentially American companies — Starbucks, Nike and Boeing — share a common predicament at the moment. Brian Niccol took the reins last month, leaving the top job at Chipotle to become Starbucks’ third CEO in three years. Boeing Boeing Boeing…. Like Nike and Starbucks, Boeing is looking to its past self to guide its future. And Boeing won’t be able to build the time machine it so desperately needs without the 33,000 machinists currently on strike.

Persons: CNN Business ’, Brian Niccol, Niccol, God —, ”, I’ve, we’ve, Nicolas Asfouri, it’s, Elliott Hill, Kelly Ortberg, who’ve Organizations: CNN Business, New York CNN, Starbucks, Nike, Boeing, Getty, NBA, WNBA, Boeing Boeing Boeing …, Ortberg Locations: New York, China, Chipotle, AFP

Counterfeiting has ballooned into a massive problem for Crye, costing it millions of dollars a year, said Jonathan Antone, the company's general counsel. By 2016, sellers were speaking out about Amazon's growing counterfeit problem, telling CNBC of the company's effort to openly court Chinese manufacturers. "There's a lot more space on that digital shelf for potential counterfeit products," he added. Agents seized "multiple tractor trailer loads" of counterfeit MultiCam products, estimated to be worth $8 million, according to court documents. Crye showed CNBC examples of counterfeit MultiCam products that were allegedly sold by retailer L&Q Tactical, one of the defendants in the lawsuit, on Amazon.

Persons: Ramin Kohanbash, Bernard Klein, Jonathan Antone, Crye, It's, it's, Counterfeits, Jason Goldberg, Goldberg, counterfeits, Kebharu Smith, Jeff Bezos, Bezos, Smith, We're, Antone, Ernesto Rodriguez, Crye's, Crye Precision's Ernesto Rodriguez Organizations: New York's Brooklyn Navy Yard, California, outfitters, California Surplus, CNBC, Amazon, Brand Registry, Justice Department, FBI, Prada, Homeland Security, Department of Defense, Agents, Crye Locations: New, New Jersey, America, Brooklyn, Brooklyn , New York, Arlington , Virginia, Texas, California

☆ Tech is the star Friday, and why we'd be buyers of the dip on CrowdStrike
▼ + stars: | 2024-10-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Carahsoft, George Kurtz, We'll, Stanley Black, Decker, Eli Lilly, Eaton, Brian Niccol's, It's, we'll, Jim Cramer's, Jim Organizations: CNBC, ., Nasdaq, Communication, Newmont Corporation, Nucor, Universal Health Services, HCA Healthcare, Bloomberg, Carahsoft Technology, Internal Revenue Service, IRS, Bloomberg News, Microsoft, Club, Nvidia, Devices, GE Healthcare, Nextracker, Linde, Coterra Energy, Starbucks, Federal, Boeing, Jim Cramer's Charitable Locations: U.S, China

☆ Stocks making the biggest moves midday: Tapestry, Capri, L3Harris Technologies and more
▼ + stars: | 2024-10-25 | by ( Hakyung Kim | In Hakyungkim | ) www.cnbc.com time to read: +3 min

The sharp moves come after a judge ruled in favor of the Federal Trade Commission's case to block Tapestry's acquisition of Capri . L3Harris Technologies — Shares rose 3.5% after the defense company reported a top- and bottom-line beat in the third quarter. Western Digital posted adjusted earnings of $1.78 per share, versus consensus forecasts for $1.72 per share, according to LSEG. Adjusted earnings before interest, taxes, depreciation, and amortization of $3.27 billion was just slightly short of consensus calls for $3.28 billion. In the fiscal second quarter, Booz Allen Hamilton reported adjusted earnings of $1.81 per share on $3.15 billion in revenue.

Persons: L3Harris, FactSet, ResMed, Booz Allen Hamilton, —, Alex Harring, Lisa Kailai Han, Sean Conlon Organizations: Tapestry, Federal Trade, Capri, FactSet, Colgate, Palmolive, Western Digital, Digital Realty Trust, Management, HCA, HCA Healthcare, Booz

☆ We're trimming a bank stock on tear since earnings, booking nearly a 100% profit
▼ + stars: | 2024-10-25 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

We're selling 100 shares of Wells Fargo at roughly $65 each. We're ringing the register on some Wells Fargo shares after a huge run since third-quarter earnings on Oct. 11. WFC YTD mountain Wells Fargo YTD Wells shares have been on a tear since the report, rallying from $57.75 to $65.50 — good for a gain of nearly 14%. 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: Jim Cramer's, YTD Wells, We're, Charlie Sharf, Jim Cramer, Jim Organizations: WFC, YTD, Fed, CNBC Locations: Wells Fargo, Wells

☆ CNBC Daily Open: In this time of uncertainty, logic is driving market moves
▼ + stars: | 2024-10-25 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Possible S&P 5% pullback Earlier this week, the S&P 500 fell for three consecutive days, the first time since early September. The influence of the meridian sunspot over the rising moon, for instance, could cast a shadow over the S&P and cause it to slip. The bad news is that markets might again be swayed more strongly by emotions – as the word "relief" suggests.

Persons: BTIG, Billy Zhang, John Maynard Keynes, Tesla, Dow, Andy Sieg, –, —, Sarah Min, Pia Singh, Lisa Kailai Han Organizations: CNBC, Google, Microsoft, Wall, Nasdaq, Dow, Boeing, IBM, U.S

☆ UBS says buy this homebuilder with more than 25% upside
▼ + stars: | 2024-10-25 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Analyst John Lovallo initiated coverage on the stock with a buy rating, with his price target of $232 implying more than 27% upside from Thursday's close. Lovallo joins 11 other analysts covering the stock on Wall Street who have a strong buy or buy rating, per LSEG. Within that same time, he also sees adjusted earnings growing roughly 16% annually and mid-to-high single-digit organic revenue growth. "We believe BLDR is uniquely positioned to grow with its homebuilder customers and drive above market organic growth through its size/scale advantage and idiosyncratic growth initiatives, including the digital platform rollout," Lovallo also said. BLDR YTD mountain BLDR, year-to-date The stock rose around 1% in premarket trading Friday after his move.

Persons: John Lovallo, Lovallo Organizations: UBS, Wall Locations: FirstSource, U.S

☆ Delta sues CrowdStrike over software update that prompted mass flight disruptions
▼ + stars: | 2024-10-25 | by ( ) edition.cnn.com time to read: +2 min

Delta, which said it has purchased CrowdStrike products since 2022, said the outage forced it to cancel 7,000 flights, impacting 1.3 million passengers over five days. “If CrowdStrike had tested the faulty update on even one computer before deployment, the computer would have crashed,” Delta’s lawsuit says. Last month, a senior executive at CrowdStrike apologized before Congress for the faulty software update. Adam Meyers, a senior vice president at CrowdStrike, said the company released a content configuration update for its Falcon Sensor security software that resulted in system crashes worldwide. “We are deeply sorry this happened and we are determined to prevent this from happening again,” Meyers said.

Persons: cybersecurity, Delta’s, ” CrowdStrike, Delta, CrowdStrike, ”, Adam Meyers, ” Meyers Organizations: CNN, Delta Air Lines, Court, Microsoft, US Transportation Department, Delta, Falcon Locations: Georgia, Fulton County, CrowdStrike

☆ Big Tech is creating a new market for small nuclear reactors — these stocks are ways to play it
▼ + stars: | 2024-10-25 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Small modular reactors (SMRs) promise to reduce capital costs and accelerate construction timelines that typically plague nuclear plants, but the technology has struggled to reach the commercial stage. The difference now is the appetite of tech companies for fossil-free fuel. The market for SMRs could grow by two gigawatts to five gigawatts by 2035 assuming big tech companies make up a majority of the demand, Percoco said. The small, pure-play advanced reactor companies NuScale and Oklo are options, but their stocks are volatile and business outlook uncertain. SMR OKLO 1M mountain NuScale Power has climbed 54% and Oklo by 117% in the past month.

Persons: Paul Zimbardo, Morgan Stanley, Andrew Percoco, Percoco, Zimbardo, NuScale, Sam Altman, Kenneth Parks Organizations: Google, Jefferies, CNBC, Amazon, Tech, Microsoft, Constellation Energy, GE Vernova, GE Locations: Kairos, Pennsylvania, SMRs, Idaho, Ontario

☆ Real-estate investors agree: Short-term rentals bring in more money but cause headaches. Here's the 'sweet spot' some are shifting to.
▼ + stars: | 2024-10-25 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

Investors agree: Short-term rentals are more lucrative but require more time than long-term rentals. Grant puts up with the occasional blow-up because her Airbnb units bring in a lot more money than her long-term rentals. Especially with higher interest rates, which increase your monthly mortgage payment, "long-term rentals are just hard," said seasoned real-estate investor Zeona McIntyre. Courtesy of Amberly GrantFull-time real-estate investor Avery Heilbron categorizes short-term and long-term rentals as "two completely different things." AdvertisementThe 'sweet spot' of real-estate investing: Mid-term rentalsShort- and long-term rentals aren't the only options for real-estate investors.

Persons: —, Amberly Grant, Grant, Zeona McIntyre, Avery Heilbron, There's, McIntyre, Covid, Airbnb, she'd, Heilbron, Peter Keane, Rivera, he's, Keane Organizations: Service Locations: Colorado, Boulder, Seattle

A day after its sharpest rally since 2013, Tesla's stock on Friday headed for its highest close in more than a year as investors and analysts continued to applaud the electric vehicle company's third-quarter results. Tesla shares rose 2.8% on Friday morning to $267.79, putting the stock on pace for its highest finish since September 2023. The firm, which already had a buy rating on the stock, said it was increasing its 12-month price stock prediction to $315 from $310 "to reflect higher deliveries and higher margins." Still, Tesla's stock remains about 35% below its all-time high reached in 2021. WATCH: Tesla's price war is over

Persons: Elon Musk, Mark Read, Piper Sandler, Tesla, FactSet, Musk, Larry Ellison, Li Auto, Bernstein Organizations: Cannes Lions, JPMorgan, Forbes, Tesla, Ford, General Motors Locations: Cannes, France, FSD, California, Texas, China, U.S

The rise of online betting has led the commercial gambling industry to balloon worldwide, posing a significant threat to public health, according to a new report. The report, published Thursday, comes from a public health commission on gambling convened by the medical journal The Lancet. The report highlighted the role online gambling has played in the rising availability of commercial gambling as a whole. Belgium, the Netherlands and Ontario, for example, have varying restrictions on gambling advertising, including online gambling. A 2015 paper found that online gambling could lead to the emergence or aggravation of gambling problems.

Persons: “ We’re, ”, Louisa Degenhardt, Heather Wardle, “, FanDuel, Alan Feldman, Feldman, Wardle Organizations: University of New, D.C, American Gaming Association, Pew, University of Glasgow, University of Nevada, Las Vegas, Gaming Institute, MGM, Council for Responsible Gaming Locations: University of New South Wales, Sydney, U.S, Washington, Scotland, Belgium, Netherlands, Ontario, Germany, Spain, Sweden, Norway, Massachusetts , Illinois, Virginia, Pennsylvania, Las

☆ Tesla shares jump on profit beat, Elon Musk's prediction of at least 20% 'vehicle growth' next year
▼ + stars: | 2024-10-24 | by ( Lora Kolodny | ) www.nbcnews.com time to read: +6 min

Automotive revenue increased 2% to $20 billion from $19.63 billion in the same period a year earlier and is about flat since late 2022. Energy generation and storage revenue soared 52% to $2.38 billion, while services and other revenue, which includes revenue from non-warranty repairs of Tesla vehicles, jumped 29% to $2.79 billion. Earlier this month, Tesla reported third-quarter vehicle deliveries of 462,890. While deliveries increased 6% from a year earlier, they fell shy of analysts’ expectations and followed two straight quarters of year-over-year declines. “Despite ongoing macroeconomic conditions, we expect to achieve slight growth in vehicle deliveries in 2024,” the company said in its earnings deck Wednesday.

Persons: Tesla, Elon Musk, FactSet, Musk, ” Tesla, “, Kelley, Vaibhav Taneja, Li Auto, Donald Trump, Trump, doesn’t Organizations: Revenue, Energy, that’s, California Public Utilities, Li, Ford, General Motors, Trump, Nasdaq Locations: Texas, California, Bay, U.S, China, Harrisburg , Pennsylvania

☆ Kentucky state senator dies weeks after plunging into an empty swimming pool on a mower
▼ + stars: | 2024-10-24 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

Turner died Tuesday evening after his “hard-fought battle” with injuries sustained in the accident, Kentucky Senate President Robert Stivers said in a statement Wednesday. “Johnnie spent his life lifting others — whether through his service in the U.S. Army, as a member of the State House of Representatives and State Senate, or in his private legal practice,” Stivers said. Turner pushed for pro-coal legislation and other measures aimed at uplifting his Appalachian district, spanning several counties in eastern Kentucky. Turner, an attorney, won election to the state Senate in 2020, ousting a Democratic incumbent with the same last name. With his death coming so close to the election, Turner’s name will appear on the general election ballot, the secretary of state’s office said.

Persons: Sen, Johnnie Turner, Turner, Robert Stivers, “ Johnnie, ” Stivers, “, —, Mitch McConnell, ” McConnell, “ That’s, Damon Thayer, Turner’s, ” Thayer, coal.But Turner, Thayer, ” Turner, David Osborne, ”, ” Osborne Organizations: Harlan Republican, U.S . Army, State, of Representatives, State Senate, U.S, Senate Republican, Bluegrass State, Kentucky House, Republican, Kentucky’s GOP Locations: FRANKFORT, Ky, — Kentucky, Appalachian, Kentucky, Letcher County, ” Kentucky, “, Kentucky’s

☆ Hermès isn't just surviving the luxury slump — it's thriving
▼ + stars: | 2024-10-24 | by ( Maria Noyen | ) www.businessinsider.com time to read: +5 min

The French fashion house is bucking the trend of the luxury industry as competitors like LVMH stutter. Hermès is succeeding while peers struggle because it follows the law of luxury to a tee, analysts say. AdvertisementIf the luxury slump is an epidemic, Hermès is managing to stay immune. The fashion house is reaping the rewards of a long-term strategy and abiding by the fundamental laws of luxury. AdvertisementIn the luxury fashion world, there's a growing belief that "getting attention is everything," Pedraza said.

Persons: Hermès, —, LVMH, Kering, Hermès Birkin, Sarah Jacobs, Carole Dupont, Eric du Halgouët, Pietri, Martin, Roll, Milton Pedraza, Pedraza, Hermés Organizations: Service, New York Loan, Business, Investor Relations, Hermès, Finance, McKinsey, Paris Thomson Reuters, Luxury Institute Locations: Asia, Japan, China, Switzerland, Paris, LVMH

☆ Tesla shares surge 19% and head for best day in more than 3 years on Musk's 2025 growth projection
▼ + stars: | 2024-10-24 | by ( Cj Haddad | ) www.cnbc.com time to read: +2 min

Elon Musk attends 'Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk' session during the Cannes Lions International Festival Of Creativity 2024 - Day Three on June 19, 2024 in Cannes, France. Tesla shares soared roughly 19% Thursday morning, putting the stock on pace for its best day in more than three years, following the company's better-than-expected earnings report. Tesla reported earnings per share of 72 cents adjusted, topping the average analyst estimate of 58 cents. Analysts at Morgan Stanley who recommend buying the stock, called Musk's 2025 vehicle delivery growth prediction a "maybe." It "clearly depends on the company's ability to improve affordability through cheaper model (next gen) introduction, financing offers and improved features," the Morgan Stanley analysts wrote in a note on Thursday.

Persons: Elon Musk, Mark Read, Tesla, FactSet, Morgan Stanley, — CNBC's Lora Kolodny Organizations: Cannes Lions, JPMorgan, Nasdaq Locations: Cannes, France

☆ Here are Thursday's biggest analyst calls of the day: Tesla, Apple, Meta, IBM, Microsoft & more
▼ + stars: | 2024-10-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Here are Thursday's biggest calls on Wall Street: KeyBanc downgrades Verizon to sector weight from overweight KeyBanc downgraded the telecom provider following earnings. Jefferies initiates California Resources at buy Jefferies says the energy company has a differentiated offering. " TD Cowen reiterates Microsoft as buy The firm recommended Microsoft heading into earnings next week. Bank of America reiterates Amazon as buy Bank of America touted Amazon ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight The firm says it's sticking with top pick Tesla following earnings on Wednesday.

Persons: KeyBanc, Jefferies, Bernstein, ServiceNow, TD Cowen, Wells, Susquehanna, Lisa Su, SRE, Morgan Stanley, Tesla, Rosenblatt, Apple Organizations: Verizon, " Bank of America, IBM, Bank of America, CRC, Facebook, Google, Microsoft, Deutsche Bank, Deutsche, JPMorgan, NextEra Energy Partners, NextEra Energy, AMD, Sempra Energy Locations: California, Regions

☆ Barclays profit jumps 23% in third quarter, beating expectations
▼ + stars: | 2024-10-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts and was 23% higher than the same period in 2023. In the second quarter, Barclays net profit fell slightly year-on-year amid lower income at its U.K. consumer bank and corporate bank, as net profit jumped 10% at its investment bank. Corporate bank income was 1% higher due to a rise in average deposit balances, while investment banking income gained 6%. Amid declines, income at Barclays' private U.S. consumer bank dipped 2% year-on-year as its wealth management unit fell 3%.

Persons: Venkatakrishnan, we've Organizations: LONDON, Barclays, Revenue, Tesco Bank, CNBC

☆ Stocks making the biggest moves midday: Tesla, IBM, Whirlpool, Molina Healthcare and more
▼ + stars: | 2024-10-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +5 min

Molina Healthcare posted adjusted earnings of $6.01 per share, better than the LSEG consensus estimate of $5.81 in earnings per share. Therefore, the company's third-quarter revenue and guidance were not comparable with Wall Street's estimates. ServiceNow posted third-quarter adjusted earnings of $3.72 per share, topping Wall Street's estimate of $3.46 per share, according to LSEG. International Business Machines — Shares tumbled about 7% after the tech giant posted third-quarter revenue that disappointed analysts' expectations. Sales for IBM came out to $14.97 billion in the last quarter, versus the $15.07 billion analysts had expected, per FactSet.

Persons: Tesla, Elon, Newmont, FactSet, Molina, CBRE, Raymond James Financial, Teradyne, Northrop Grumman, ServiceNow, Boeing machinists, — CNBC's Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min Organizations: —, Molina Healthcare, Whirlpool, LSEG . West Pharmaceutical, West Pharmaceutical Services, injectables, Carrier, Northrop, Mattel, LSEG, Boeing, IBM Locations: —, FactSet

☆ What to do with Honeywell stock after its sharp post-earnings pullback
▼ + stars: | 2024-10-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Dow stock Honeywell was one of the biggest drags on the 30-stock average Thursday after Club industrial giant reported mixed third-quarter results compounded by a mixed outlook. HON YTD mountain Honeywell YTD Honeywell shares sinking 4.5% after the release was understandable but represents an opportunity. Honeywell Why we own it: Honeywell is a provider of industrial technology solutions to companies in various industries. Sales were revised lower because the short cycle recovery in the company's industrial automation segment is not materializing as quickly as management was expecting. Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York.

Persons: we're, Vimal Kapur, Kapur, Kupar, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Dow, Honeywell, Emerson, CAES Systems, Air Products, Aerospace Technologies, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York

☆ Johnnie Turner: Kentucky lawmaker dies weeks after plunging into an empty swimming pool on a mower
▼ + stars: | 2024-10-24 | by ( Associated Press | ) edition.cnn.com time to read: +4 min

Persons: Sen, Johnnie Turner, Turner, Robert Stivers, “ Johnnie, ” Stivers, “, —, Mitch McConnell, ” McConnell, “ That’s, Damon Thayer, Turner’s, ” Thayer, Thayer, ” Turner, David Osborne, ”, ” Osborne Organizations: Kentucky AP, Kentucky, Harlan Republican, U.S . Army, State, of Representatives, State Senate, U.S, Senate Republican, Bluegrass State, Kentucky House, Republican, Kentucky’s GOP Locations: Frankfort, Kentucky, Appalachian, Letcher County, ” Kentucky, “, Kentucky’s

☆ Dexcom shares fall on slow revenue growth
▼ + stars: | 2024-10-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Shares of Dexcom fell 9% in extended trading on Thursday after the company released third-quarter results that beat analysts' expectations but showed a decline in U.S. revenue year over year. Here's how the company did:Earnings per share: 45 cents adjusted vs. 43 cents expected by LSEG45 cents adjusted vs. 43 cents expected by LSEG Revenue: $994 million vs. $990 million expected by LSEGThe company's revenue increased 2% to $994.2 million from $975 million a year earlier. The company maintained its full fiscal year guidance and expects revenue of $4 billion to $4.05 billion. Last quarter, Dexcom lowered its guidance from the $4.20 billion to $4.35 billion it forecast in the first quarter. This lowered guidance and a revenue miss caused Dexcom shares to tumble more than 40% following the release of its second-quarter results in July.

Persons: Dexcom, Kevin Sayer, Sayer, Teri Lawver, Lawver Organizations: LSEG Revenue, Dexcom

☆ Chinese smartphone maker Oppo doubles down on AI, says in regular talks with Google and Microsoft
▼ + stars: | 2024-10-24 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +3 min

Chinese smartphone company Oppo ranks second in mainland China, and fourth worldwide, according to Canalys. Nurphoto | Nurphoto | Getty ImagesBEIJING — Chinese smartphone company Oppo is doubling down on artificial intelligence as it holds weekly talks about AI with senior management at Google and Microsoft in the run-up to the launch of its flagship phone overseas. The rise of generative AI — tech that can produce human-like responses when prompted — has companies from Apple to Honeywell rushing to tap its capabilities. AI smartphones set for growthOppo in June announced it plans to integrate generative AI in 50 million of its devices this year. Apple next week is due to publicly release its first software update with AI tools.

Persons: —, Billy Zhang, Zhang, Xiaomi, Oppo Organizations: Nurphoto, Getty, Google, Microsoft, Apple, Honeywell, CNBC, Samsung, Tech Locations: China, BEIJING, Shenzhen, Europe, Southeast Asia, U.S

☆ US businesses are suffering from election uncertainty — and it could be hurting the economy
▼ + stars: | 2024-10-24 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

That’s helped push uncertainty among small business owners to an all-time high since the nearly 40-year inception of a monthly survey the National Federation of Independent Business conducts to gauge small business sentiment. The scale of firms whose investment plans are impacted by election uncertainty is “pretty remarkable” compared to prior elections, said Daniel Weitz, survey director at the Atlanta Fed. The Fed’s Beige Book, a quarterly collection of survey responses from businesses compiled by the 12 regional Fed banks published Wednesday, highlighted a wide range of businesses that are suffering because of election uncertainty. But the blowback that businesses are facing from the election uncertainty should subside once the policy path ahead becomes more clear, at which point we could start to see a rebound in hiring and capital investment businesses make, Meyer told CNN. The combination of these three major unknowns is shaping small business owners’ uncertain outlooks, said Holly Wade, executive director of the NFIB Research Center.

Persons: Kamala Harris, Donald Trump, That’s, ” “, Duke, Daniel Weitz, ”, hesitancy, Brent Meyer, Harris, Meyer, that’s, They’re, Holly Wade, “ We’re, Wade Organizations: New, New York CNN, National Federation of Independent Business, Reserve, Atlanta and Richmond Federal, Duke University’s Fuqua School of Business, Fortune, Atlanta Fed, Cleveland Fed, Fed, Richmond Fed, Dallas Fed, Trump, CNN, Federal Reserve, NFIB Research Locations: New York, ’

☆ Bernstein naming Meta the new 'set-it-and-forget-it' stock comes down 2 things
▼ + stars: | 2024-10-24 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

In the battle of the tech giants, Wall Street firm Bernstein favors Meta Platforms over Alphabet . The analysts raised their Meta price target to $675 per share from $600 and kept their outperform buy rating on the stock. Bernstein acknowledged the valuation of Meta stock versus Alphabet "feels stretched" at the moment. Big picture Bernstein's bullish assessment of Meta's future growth prospects comes as the stock has significantly outperformed both the overall market and Alphabet. META YTD mountain Meta Platforms YTD Before Wednesday's 3% drop in an ugly market, Meta closed Tuesday just 2% off its record close of $595.94 on Oct. 4.

Persons: Bernstein, Meta, Shein, we're, Jim Cramer's, Kamala Harris, Jim, Jim Cramer Organizations: Wall, Google, Meta, Adobe, Facebook, CNBC Locations: Wednesday's, U.S

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