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☆ Stocks making the biggest moves midday: Southwest, Oracle, 3M, New York Community Bancorp and more
▼ + stars: | 2024-03-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Oracle — The database software stock surged 11% and headed for its best day since December 2021 after posting fiscal third-quarter earnings that topped Wall Street's expectations. Asana — The stock shed about 11% after the work management platform issued weak full-year revenue guidance. Asana said to expect revenue between $716 million and $722 million, less than the forecast of $725 million estimated by analysts polled by LSEG. American is expecting an adjusted loss of 15 cents to 35 cents per share, versus a 22 cent loss expected from analysts polled by FactSet. On lost 0.05 Swiss franc per share, while analysts polled by StreetAccount expected On to earn 0.10.

Persons: Oracle, William Brown, Asana, Microstrategy, Canaccord, TD Cowen, Dan Loeb's, StreetAccount, Archer, Daniels, Samantha Subin, Lisa Han, Alex Harring, Sarah Min Organizations: Southwest Airlines —, Boeing, Southwest, Oracle, L3Harris Technologies, LSEG, Wall Street, Boeing —, New York Times, Max, Alaska Airlines, Acadia Pharmaceuticals, American Airlines —, FactSet, Management, Advance, Swiss, Revenue, Daniels, Midland, Daniels Midland, . New York Community Bancorp Locations: .

☆ Judge Throws Out Defamation Lawsuit Against Meghan, Duchess of Sussex
▼ + stars: | 2024-03-12 | by ( Remy Tumin | More About Remy Tumin | ) www.nytimes.com time to read: +1 min

A federal judge on Tuesday dismissed a defamation lawsuit against Meghan, Duchess of Sussex, after her half sister accused her of spreading “disparaging, hurtful and false” statements in interviews. Samantha Markle, who shares a father with Meghan, claimed that comments Meghan made in an interview with Oprah Winfrey in 2021 and later in a Netflix documentary series, “Harry & Meghan,” aimed to portray Ms. Markle as “an unwelcome opportunist” who was “weaseling her way” into her famous half sister’s life. In a 58-page decision, Judge Charlene Edwards Honeywell of the U.S. District Court for the Middle District of Florida found that Ms. Markle had failed to identify any statements that supported her defamation claims. She also ruled that Meghan’s statements were protected either because they were pure opinion or substantially true, or because Ms. Markle had failed to make a case that they were defamatory in the first place. Meghan and her husband, Prince Harry, spoke in detail to Ms. Winfrey about their split from Britain’s royal family in a CBS special that was broadcast in the United States on March 7, 2021, and in the six-episode Netflix series in 2022, sending shock waves around the world as they accused the royal family of failing to protect them.

Persons: Meghan, Duchess of Sussex, Samantha Markle, Oprah Winfrey, Harry, ”, Markle, “, Charlene Edwards Honeywell, Prince Harry, Winfrey Organizations: Netflix, U.S, Middle, CBS Locations: Middle District, Florida, United States

☆ Kate’s doctored photo raises concerns about tools that let everyone easily edit images
▼ + stars: | 2024-03-11 | by ( Brian Fung | Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

Although celebrities have altered photos with editing tools for years, images taken of the royal family have a historical importance and are expected to be authentic. The use of image editing to present a false narrative goes back almost to the dawn of photography itself. Image tools with generative AI will allow so much more than photo manipulation because people will be able to create images from completely new scenarios. As AI images hit the mainstream, it will open up more discussions around transparency and the need to regulate usage so news outlets and the public can better spot AI-generated and augmented images, he said. Although AI image watermarks already being implemented on certain platforms, mandating that will be a challenge, Hayden said.

Persons: Catherine , Princess of Wales, Wales, Kate, ”, Princess of, Prince Louis, Prince George, Princess Charlotte, Princess, Google’s, Ramesh Raskar, who’s, Raskar, Reece Hayden, Hayden Organizations: CNN, Kensington Palace, Agence France, Presse, Reuters, Associated Press, Adobe, Google, MIT Media, Apple, Facebook, ABI Research Locations: Princess of Wales, Kensington

☆ Morgan Stanley's car guru has a new under-the-radar pick that benefits from EV industry setbacks
▼ + stars: | 2024-03-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Morgan Stanley has a stock in mind for investors looking to profit as the electric vehicle industry attempts to overcome some hurdles: Phinia . PHIN 1D mountain Phinia shares rise after Morgan Stanley initiates coverage Shares rose 4% on Monday. "With approximately 100% FCF conversion and an 8 to 9% combined cash return yield, PHIN is our preferred risk/reward amongst US suppliers." Underpinning the firm's "ICE is Nice" thesis is the expectation for a slower-than-expected adoption of battery electric vehicles, as the industry grapples with a slew of "underappreciated" geopolitical, environmental and economic hurdles, Jonas wrote. "A stable top-line, above-peer margins, minimal leverage… this is a free cash flow story, augmented by cash return," he wrote.

Persons: Morgan Stanley, Adam Jonas, Morgan Stanley's, Jonas Organizations: ICE, EV Locations: BorgWarner, U.S

☆ Stocks making the biggest moves premarket: Coinbase, PDD Holdings, Duolingo and more
▼ + stars: | 2024-03-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Crypto stocks — Stocks connected to cryptocurrencies rose as Bitcoin hit a fresh record high and topped $71,000. PDD Holdings — U.S.-listed shares of the Chinese ecommerce company added 4.5% following an upgrade by Jefferies to buy. Duolingo — Duolingo shares rose more than 1% after JPMorgan initiated coverage of the online learning platform with an overweight rating, citing expectations for "premium" revenue growth. Xcel Energy — Xcel Energy shares added‎ about 2%. New York Community Bancorp — Shares of the regional bank ticked up 1% in premarket trading.

Persons: Jefferies, Duolingo, Oppenheimer, Gamble —, —, Jesse Pound, Michelle Fox Organizations: PDD Holdings —, Jefferies, JPMorgan, Energy, Xcel Energy, Barclays, Nvidia, New York Community Bancorp, Netflix, Procter, Gamble, Truist Locations: Temu, China

☆ The best couple looks from the 2024 Vanity Fair Oscar after-party
▼ + stars: | 2024-03-11 | by ( Amanda Krause | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

Vanity Fair hosted its Oscars after-party in Beverly Hills, California, on Sunday. Chrissy Teigen and John Legend, for example, wore eye-catching ensembles when they arrived. AdvertisementWhile the 2024 Oscars were hosted in Los Angeles, Vanity Fair kicked off its after-party in Beverly Hills. And as is the case every year, celebrity couples were some of the best-dressed stars on the red carpet. From Chrissy Teigen and John Legend to Donald Glover and Michelle White, here's what Hollywood's A-list couples wore for the event.

Persons: Chrissy Teigen, John Legend, —, Donald Glover, Michelle White Organizations: Service Locations: Beverly Hills , California, Los Angeles, Beverly Hills

☆ 'Barbie' lost most of its Oscars, but its cast won the red carpet
▼ + stars: | 2024-03-11 | by ( Amanda Krause | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

On Sunday, celebrities put on their best outfits to celebrate the 2024 Oscars. The cast of "Barbie" had some of the best red-carpet looks of the night. Margot Robbie and America Ferrera both wore sparkly gowns designed by Versace. AdvertisementThe "Barbie" cast stole the show at the 2024 Oscars — even if the film didn't win every award it was nominated for. First, Margot Robbie, America Ferrera, and company walked the red carpet in stunning outfits.

Persons: Barbie, Margot Robbie, America Ferrera, Versace, —, America, Ryan Gosling, Ken Organizations: America, Service

☆ The most daring looks celebrities wore to the 2024 Vanity Fair Oscar after-party
▼ + stars: | 2024-03-11 | by ( Amanda Krause | Samantha Grindell | ) www.businessinsider.com time to read: +1 min

The 2024 Oscars took place in Los Angeles on Sunday. Stars celebrated the awards at the Vanity Fair Oscar after-party in bold and daring ensembles. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But stars also celebrated the awards show at the Vanity Fair Oscar after-party at the Wallis Annenberg Center for the Performing Arts in Beverly Hills. Many attendees rocked daring looks at the after-party, wearing gowns with sheer detailing or plunging necklines on the red carpet.

Persons: Chrissy Teigen, Quinta Brunson, — Organizations: Sunday, Service, Hollywood's, Dolby Theatre, Wallis Annenberg Center, Performing Arts Locations: Los Angeles, Beverly Hills

☆ Why Friday’s key Nvidia reversal could mark the start of a broader stock market unwind
▼ + stars: | 2024-03-11 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

But some investors are concerned markets could be due for a broader unwind without the help from AI names. As it is, five of the Magnificent Seven names dropped last week, with the exception of Nvidia and Meta Platforms. That advance has helped the S & P 500 climb for 16 out of 19 weeks, notching record after record in its ascent. "A consolidation in the AI trade has been overdue for a while now, so Friday's key reversal day could signal the start of that unwind." NVDA 5D mountain Nvidia Crowding in AI Indeed, other market observers warned investors the overreliance on AI beneficiaries this year could mean danger for the overall market.

Persons: Jonathan Krinsky, Peter Boockvar, semi's, Dubravko, BTIG's Krinsky, there's, Russell, Chris Verrone, Goldman Sachs, Krinsky, Samantha Subin Organizations: Nvidia, Meta, Apple, AMD, Bleakley Financial, Google, JPMorgan, Sunday

☆ Columbia University leaders to get grilled by Congress at antisemitism hearing
▼ + stars: | 2024-03-11 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

CNN —The president and board chairs of Columbia University have agreed to testify next month at a Congressional hearing on campus antisemitism. The House Education and Workforce Committee announced Monday it will hold a hearing on April 17 featuring Columbia President Minouche Shafik and the two co-chairs of the board of trustees: Claire Shipman and David Greenwald. The Columbia president declined the invitation due to a scheduling conflict, according to the Columbia Spectator. Last month, the House Education Committee widened its campus antisemitism investigation to include Columbia and demanded the Ivy League school turn over a wide range of documents to aid that probe. Shai Davidai, an assistant professor at the Columbia Business School, called Shafik a “coward” in a fiery speech last year criticizing the university president for failing to quiet “pro-terror” voices at the school.

Persons: Minouche Shafik, Claire Shipman, David Greenwald, Shafik, Penn, ”, Virginia Foxx, Eden Yadegar, ’ ”, Yadegar, Samantha Slater, Israel, Shai Davidai Organizations: CNN, Columbia University, Education, Workforce, Columbia, Harvard University, Massachusetts Institute of Technology, University of Pennsylvania, Columbia Spectator, Harvard, House, Committee, Ivy League, Israel, Columbia University Columbia, Department of Education, Columbia Business School Locations: Columbia, Israel

☆ AI is not ready for primetime
▼ + stars: | 2024-03-10 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +7 min

Generative AI tools, including ChatGPT, have been alleged to violate copyright. That’s not stopping Big Tech companies and AI firms, which continue to hook consumers and businesses on new features and capabilities. “Access to major generative AI systems in widespread use is controlled by a few companies,” said Venkatasubramanian, noting that these systems easily make errors and can produce damaging content. He believes bolder reforms may be necessary too, such as taxing AI companies to fund social safety nets. For now, current day generative AI users must understand the limitations and challenges of using products that are still quite far from where they need to be.

Persons: ”, Taylor Swift, Joe Biden, Mandel Ngan, That’s, OpenAI, Elon Musk, Elon Musk Gonzalo Fuentes, ” Suresh Venkatasubramanian, Venkatasubramanian, ” Arvind Narayanan, CNN he’s, Narayanan, “, ChatGPT, Bard –, haven’t, ” Gemini, Brian Fung Organizations: CNN, Chamber, Getty, Big Tech, Microsoft, Google, Reuters, Brown University, “, White, Office of Science, Technology, Management, Executive, Princeton, “ Tech Locations: Washington ,, AFP, New Hampshire

Susan Downey and Robert Downey Jr. both wore black, but their outfits were anything but subdued. Susan Downey and Robert Downey Jr. attend the 96th Annual Academy Awards. Mike Coppola/Getty ImagesDowney Jr. took a bolder approach to men's red-carpet fashion with a Western-style suit. His jacket had sharp shoulders and a silver brooch, while his pants were tailored perfectly. His wife, producer Susan Downey, matched him in a strapless gown with a plunging U neckline, a floor-length skirt, and a scarf around her neck.

Persons: Susan Downey, Robert Downey Jr, Mike Coppola, Downey Organizations: Getty

The 96th annual Academy Awards took place at the Dolby Theatre in Los Angeles on Sunday. Celebrities walked the red carpet dressed to the nines. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOn Sunday, Hollywood's biggest stars celebrated the 96th annual Academy Awards at the Dolby Theatre in Los Angeles. Celebrities walked the red carpet in eye-catching ensembles.

Persons: Vanessa Hudgens, she's, Eugene Lee Yang, —, Celebrities Organizations: Dolby Theatre, Sunday, Celebrities, Service Locations: Los Angeles

☆ Anecdote from Sen. Katie Britt’s criticism of Biden’s border policies appears to be from before he was president
▼ + stars: | 2024-03-09 | by ( Samantha Waldenberg | ) edition.cnn.com time to read: +3 min

But the story she seemed to describe didn’t take place during Biden’s time as president or vice president, nor did it happen in the United States. I traveled to the Del Rio sector of Texas, where I spoke to a woman who shared her story with me. She had been sex trafficked by the cartels starting at age 12. Jacinto Romero has shared her story publicly, including in a 2015 hearing on sex trafficking held by the House Foreign Affairs Subcommittee on Global Human Rights. Along that journey, children, women, and men are being subjected to gut-wrenching, heartbreaking horrors in our own backyard,” spokesperson Sean Ross said.

Persons: Alabama Sen, Katie Britt, Joe Biden’s, ” Britt, ”, Jonathan Katz, Britt, Biden, Katz, Sen, Marsha Blackburn, Cindy Hyde, Smith, –, Karla Jacinto Romero, “, Jacinto Romero, Jacinto, Sean Ross Organizations: CNN, Alabama, Del, House Foreign, Rights, Capitol Locations: United States, Del Rio, Texas, Alabama, United States of America, Biden’s, Mexico, Sens, Eagle, , Texas

☆ Biden signs key government funding bills into law averting shutdown
▼ + stars: | 2024-03-09 | by ( Clare Foran | Ted | ) edition.cnn.com time to read: +3 min

CNN —President Joe Biden signed a package of six government funding bills into law Saturday, a day after lawmakers raced to fund critical government departments and agencies through the remainder of the fiscal year. The White House thanked top congressional lawmakers from both parties “for their leadership” in getting the bills to the president’s desk. The Office of Management and Budget said late Friday that agencies would continue their normal operations and had ceased shutdown preparations after Congress finally passed updated funding legislation. But the work isn’t over yet: Lawmakers still need to finalize and pass a second slate of funding bills ahead of a March 22 deadline. The package also includes funding for rental assistance and other child nutrition programs, including the school lunch program.

Persons: Joe Biden, “, Biden, Mike Johnson, ”, Samantha Waldenberg Organizations: CNN, Republicans, Management, Budget, Agriculture, Commerce, Justice, Veterans Affairs, Energy, Housing, Urban Development, and Drug Administration, House Republicans, WIC, Department of Justice, Biden, ATF, FBI, Biden Administration, Caucus Locations: Transportation, China

☆ That security camera and smart doorbell you’re using may have some major security flaws
▼ + stars: | 2024-03-09 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +11 min

… I’m completely done with smart devices like that.”24-year-old Heather Hines is among the Wyze users whose personal camera footage was viewed during a recent security breach. Henderson, who owns 10 Wyze cameras, said he is starting to replace them with other brands. It also raises the question about whether the value of smart devices is worth the risks. Amazon and Google have experienced security breaches with Ring and Nest security devices in recent years. People can also reconsider how many smart devices they actually need in the home.

Persons: Heather Hines, Hines, ”, “ I’m, ” Hines, I’m, Eddie Henderson, Henderson, Dave Cosby, Tuck, Paddy Harrington, That’s, Michela, Michela Menting, “, ” Harrington, It’s, you’ve, they’ll, ” Menting Organizations: CNN, Wyze, Consumer, Amazon, Walmart, Sears, Federal Communications Commission, US, Forrester Research, Attackers, Google, ABI Research, Consumer Product Safety, White, FBI Locations: Southern California, Nova Scotia, Canada, China, ” Haddington

☆ Stocks making the biggest moves midday: Nvidia, Marvell Technology, Costco, Eli Lilly and more
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Marvell Technology — The chip company sank more than 11% on light first-quarter earnings and revenue guidance. Marvell Technology said it anticipated adjusted earnings of 23 cents per share for the first quarter, below the 40 cents expected by analysts polled by LSEG, formerly known as Refinitiv. Samsara posted $276 million in revenue, compared to analysts' expectations for $258 million, per LSEG. DocuSign reported adjusted earnings of 76 cents per share on revenue of $712 million for the period. Analysts polled by LSEG had called for earnings of 64 cents per share on $699 million in revenue.

Persons: Carvana, Eli Lilly —, Goldman Sachs, MongoDB, NYCB, DocuSign, LSEG, Morgan Stanley, Yun Li, Jesse Pound, Pia Singh, Sarah Min, Michelle Fox, Hakyung Kim Organizations: Nvidia —, Nvidia, Marvell Technology, LSEG, RBC Capital Markets, Costco, U.S . Food, Drug Administration, Broadcom, Textron — Textron, Bank of America, Old Navy, New York Community Bancorp, Moody's Investors Service, Amylyx Pharmaceuticals, UBS — U.S, UBS, Auto, Deutsche Bank Locations: U.S, Swiss, China

☆ Nvidia is one of the most overbought stocks on Wall Street after this week's massive rally
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Nvidia shares may be due for a pullback after another red hot start to the year. But Nvidia may be getting ahead of itself after nine-straight weeks of gains, according to this commonly watched metric. Here are some of the stocks that made the list: Howmet Aerospace and General Electric are the most overbought stocks, with RSIs exceeding 89. Nvidia was the fourth-most overbought stock on the list with an RSI reading of about 86. NVDA 5D mountain Nvidia shares this week Other companies that made the overbought list include Jabil , Leidos Holdings and American Express .

Organizations: Nvidia, CNBC Pro, Wall, Aerospace, General Electric, Electric, JPMorgan, Leidos Holdings, American Express, Apple Locations: China

☆ What to know about this AI stock with ties to Nvidia up nearly 170% in 2024
▼ + stars: | 2024-03-08 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Investors may want to keep an eye on this artificial intelligence voice-and-speech recognition stock with ties to Nvidia . Shares of SoundHound AI have surged almost 170% this year and nearly 347% in February alone as investors bet on new applications for the booming technology trend that has taken Wall Street by storm. SOUN YTD mountain SoundHound shares in 2024 While the Nvidia investment isn't new news for investors and analysts, it does reinforce SoundHound's value proposition. "With voice enabled units expected to grow to 70% of shipments by 2026, this represents a significant growth opportunity, in our view," he added. He estimates an $11 billion total addressable market when accounting for the immediate opportunities from quick-service restaurants and original equipment manufacturers.

Persons: Dan Ives, Ives, SoundHound, Ladenburg Thalmann's Glenn Mattson, Krispy, Davidson's Gil Luria, Cantor Fitzgerald's Brett Knoblauch, Wainwright's Scott Buck Organizations: Nvidia, Wedbush Securities Locations: Krispy Kreme, Jersey

☆ Fijoya is bringing AI to employer-sponsored healthcare benefits. Here's the pitch deck it used to raise $8.3 million.
▼ + stars: | 2024-03-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

Digital health benefits startup Fijoya just came out of stealth and announced an $8.3 million seed round from Team8, the Israeli venture group that creates startups and invests in existing ones across the cyber, data infrastructure, fintech, digital health, and AI industries. As Americans are spending more than ever on healthcare, Fijoya is one of many healthtech startups cropping up to tackle the financial aspects of healthcare. Now, out of stealth, Fijoya is focusing on giving employees an easier way to choose healthcare benefits that best suit their lifestyles. "This end-to-end approach signifies our commitment to simplify health benefits by offering a wide range of options with a seamless discovery, selection, and payment process.'" Check out the 15-slide pitch deck Fijoya used to raise its seed funding round.

Persons: Team8, Baruch Levy, Levy Organizations: Business, Health, Lightspeed Venture Partners, Norwest Venture Partners Locations: Team8, Israel

☆ Stocks making the biggest moves midday: Victoria's Secret, Novo Nordisk, Intel, Shake Shack and more
▼ + stars: | 2024-03-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Victoria's Secret said it anticipates a larger-than-expected decline in revenues for the first quarter and full year. Novo Nordisk — Shares rallied nearly 8.9% to record high level after the company reported positive Phase I trial results for its new experimental weight loss drug amycretin. The company reported adjusted earnings of 61 cents per share on $1.68 billion in revenue for its fiscal fourth quarter. Analysts had estimated earnings of 50 cents per share on $1.67 billion in revenue, according to LSEG. Burlington Stores — The stock rose 7.5% after Burlington posted a fourth-quarter beat on adjusted earnings per share and revenue.

Persons: Victoria's, amycretin, TD Cowen, Shake Shack's, Kroger, LSEG, Iberdrola, Avangrid's, Mizuho, —, Samantha Subin Organizations: Novo Nordisk —, American Eagle Outfitters, Burlington Stores, Burlington, New York Community Bancorp, Liberty Strategic, VanEck Semiconductor, Nvidia, Micron Technology, Stifel, Intel, Bloomberg Locations: Spanish

☆ Stock futures are flat after major averages claw back some of this week's losses: Live updates
▼ + stars: | 2024-03-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange on Jan. 29, 2024. Futures tied to the Dow Jones Industrial Average dipped about 10 points, while S&P 500 futures and Nasdaq-100 futures were little changed. All major averages finished higher Wednesday following back-to-back losing sessions. Nine of the 11 major S&P sectors finished higher, led to the upside by utilities. Investors monitored the first of Fed Chair Powell's appearances on Capitol Hill this week for more insight on the path ahead for interest rate cuts.

Persons: Jerome Powell's, Powell, Adam Sarhan Organizations: New York Stock Exchange, Stock, Federal, Capitol Hill, Futures, Dow Jones, Nasdaq, Dow Jones Industrial, New York Community Bancorp, Apple, Investors, Fed, Capitol, Financial Services Committee, Investments, Broadcom, Costco Wholesale, Kroger Locations: New, February's

☆ My family of 5 moved from Knoxville to Brooklyn. Our cost of living has doubled, but it's the best decision we've ever made.
▼ + stars: | 2024-03-06 | by ( Samantha Grindell | ) www.businessinsider.com time to read: +12 min

Lisa Miller moved from Knoxville, Tennessee, to Brooklyn, New York, with her husband and three kids. Miller said her family has never been happier, and she gets to date her husband again. I moved to Tennessee when I was 19, and we lived in Knoxville and Nashville. AdvertisementWe quickly sold our house in Tennessee and found the perfect Brooklyn apartmentThe market is great in the Knoxville neighborhood we lived in. We haven't looked backIt's been the best decision we've ever made for our family.

Persons: Lisa Miller, Miller, —, He'd, I've, I'm, we'd, there's, Joffrey, I'd, haven't, We've, we're, We'll, We're, it's, It's, we've, they've, Lisa Miller doesn't Organizations: Service, Flanelle Magazine, Tennessee Locations: Knoxville , Tennessee, Brooklyn , New York, Tennessee, Detroit, Virginia, Georgia, Knoxville, Nashville, New York, Slope, Brooklyn, of, Manhattan, New York City, Park Slope, Our Brooklyn, It's

☆ Wall Street weighs in on what's wrong with Apple and whether the stock can make a comeback
▼ + stars: | 2024-03-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

But the tides have shifted in recent months as investors overlook the $2.6 trillion company for rosier AI opportunities. "Everybody's waiting for Apple to come along," said Max Wasserman, co-founder and senior portfolio manager at Miramar Capital. "Great cash flow, great balance sheet, but they're just not demonstrating that they're going to be the new leader in AI." Apple's AI story Last month, Apple pulled the plug on its decade-long autonomous vehicle project in what many on Wall Street viewed as a move to divert resources toward AI prospects. Another way Apple could satisfy the need for AI progress is through a merger or acquisition of a company with large-scale AI capabilities, Meeks said.

Persons: Max Wasserman, they're, Tim Cook, haven't, CFRA Research's Angelo Zino, Wasserman, That's, Paul Meeks, Miramar's Wasserman, Melius Research's Ben Reitzes, Rosenblatt's Barton Crockett, Meeks, hasn't, Michael Bloom Organizations: Apple, Miramar Capital, Nasdaq, Nvidia, Meta, Microsoft, Union, Huawei, Accounting, Portfolio Management, Apple's, Conference Locations: China

☆ Landmark rule requires some companies to share how much they pollute. But it was scaled back
▼ + stars: | 2024-03-06 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The Securities and Exchange Commission voted on Wednesday to pass a scaled-down climate reporting rule for public companies after the agency’s initial proposal was met with backlash from business leaders and some lawmakers. The finalized rule will require public companies to share how climate change might hurt their businesses. Some public companies will have to share how much they pollute, though the new rules no longer require companies to report some greenhouse gas emissions. A controversial proposalThe source of much of the controversy surrounded a proposal to require companies to disclose scope 3 emissions, which are emissions a company is indirectly responsible for. The new rules also require companies to share physical risks posed by climate change, including the threat of rising natural disasters like wildfires or hurricanes.

Persons: Gary Gensler, Biden, ” Shivaram, Caroline Crenshaw, ” Organizations: CNN, Securities, Exchange, Columbia Business School, SEC

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