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Read the transcript of text between FTX executives
  + stars: | 2023-10-19 | by ( ) www.nytimes.com   time to read: +1 min
GOVERNMENT EXHIBIT SB CE SB CE SB CE SB 406 22 Cr. banks Caroline Ellison maybe 1b from crypto exchanges? lbkr 1.5 btc 0.3 exch 1 modulo 0.3 gbtc 0.3 hood? banks total 2:44 AM 1.5 0.3 1 0.3 0.3 0.3 0.2 Caroline Ellison seems ballpark reasonable 3:06 AM cust assets? difference Send a message 11/7/2022 3:04 AM 1.5 0.3 1 0.3 0.3 0.3 0.2 3.9 2:44 AM 12 8.1 2:34 AM 3:08 AM 2:47 AM Q 2:48 AM < +
Persons: Caroline Ellison, Sam Bankman, Joe Bankman, Ramnik Arora, Zach Dexter, Ryne Miller, Constance, Ryan Salame, Nishad Singh, Gary Wang Sam Bankman Organizations: BTC Locations: HOOD, treasuries
During that exchange, Singh said he learned from Wang that Alameda was borrowing $13 billion from FTX. Singh asked about the size of the shortfall, and Bankman-Fried said that was the wrong question to be asking. After Singh asked if he would finally agree to curb spending, Bankman-Fried said, "Yes, definitely." There, Singh told the jury, he thought he might quit but instead asked Bankman-Fried for a real sense of how things went on the overseas trip. Singh told the jury that he faces a max of 75 years in prison but is "hoping for no jail time."
Persons: Singh, Caroline, Fried, Caroline Ellison, Gary Wang, Nishad Singh, Sam Bankman, Nicolas Roos, I'm, wasn't, Ramnik Arora, Anthony Scaramucci, he'd, Bankman, Dawn Giel Organizations: Alameda, Alameda Research, U.S, Federal Court Locations: Bahamas, Alameda, Wang, Manhattan, FTX, New York City, New York, Bankman
Anthropic looks set to be valued at $30 billion as it is in talks with Google for further investment. Prosecutors argue that the investment can't be used as evidence in Bankman-Fried's favor. AdvertisementAdvertisementProsecutors have asked the judge overseeing Sam Bankman-Fried's trial to stop the FTX founder's lawyers from referencing his $500 million investment in Anthropic. AdvertisementAdvertisementThat means Bankman-Fried's investment could be a major help in reimbursing the thousands of FTX customers who lost their money as the crypto exchange imploded last November. AdvertisementAdvertisementMichael Lewis, who interviewed Bankman-Fried more than 100 times for his biography, wrote that other FTX executives didn't approve of the Anthropic investment.
Persons: FTX, , Sam Bankman, Lewis Kaplan, Damian Williams, Anthropic, Williams, Fried, Gary Wang, Michael Lewis, Bankman, didn't, Ramnik Arora, Lewis, Sam Organizations: Google, Prosecutors, Service, Amazon Locations: Anthropic, Bankman, Alameda
Elon Musk asked SBF if he wanted to help his $44 billion Twitter takeover, per Michael Lewis' biography. Bankman-Fried owned around $100 million of Twitter stock before Musk took the company private. AdvertisementAdvertisementSam Bankman-Fried didn't know whether he still owned shares in Twitter as Elon Musk took over the platform last year, according to Michael Lewis' biography of the FTX founder. According to Lewis, Bankman-Fried suggested investing between $250 million and $1 billion in Twitter. Singh and Arora said that FTX shouldn't invest in Musk's Twitter, or only go with a small stake.
Persons: Elon Musk, Michael Lewis, Musk, , Sam Bankman, Fried, Nishad Singh, Ramnik Arora, Lewis, Singh, who's, Arora, Morgan Stanley —, Semafor, SBF, FTX Organizations: Twitter, Service, Elon, Fried's
An increasing number of buyers are purchasing homes in the fall and winter, Opendoor found. If the housing market normalizes, home buying could shift back to spring and summer, an expert said. A recent study from Opendoor found that the fall and winter months have become popular with home sellers. Despite a slump in the housing market, it's positive news for both sellers and buyers — demand still exists. "The housing market has gone through a period of distortion caused by mortgage rates being kept too low for too long," he told Insider.
Persons: Opendoor, , Amit Arora, Arora, Jonathan Miller, Douglas Organizations: Service, homeselling Locations: Douglas Elliman
JSW held talks with senior LGES executives in Korea earlier this month, proposing a partnership to manufacture battery cells in India for EVs and energy storage, one of the people with direct knowledge of the discussions said. "Due diligence wise JSW is talking to a lot of people because it needs an ecosystem for an EV. JSW's billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs and its talks to buy a stake in China's MG Motor (600104.SS). Toshiba said it is not able to confirm "at this point" if it is in talks with JSW for a partnership to build battery cells. Tesla is also eyeing India and is in talks with the government to build EVs and batteries there.
Persons: Danish Siddiqui, JSW, LGES, China's CATL, Sajjan Jindal, CATL, Narendra Modi's, JSW's, Ola, Aditi Shah, Neha Arora, Heekyong Yang, Daniel Leussink, Miho Uranaka, Zhang Yan, Alexander Smith Organizations: REUTERS, Danish, Korea's LG Energy, Panasonic, Toshiba, JSW's, Tesla, General Motors, China's, HK, Reuters, JSW, Tata Motors, TVS, Thomson Locations: Mumbai, India, DELHI, Korea, Korean, India's, New Delhi, Seoul, Tokyo, Shanghai
"Due diligence wise JSW is talking to a lot of people because it needs an ecosystem for an EV. JSW's billionaire chairman Sajjan Jindal has publicly aired his desire to build EVs and its talks to buy a stake in China's MG Motor (600104.SS). Toshiba said it is not able to confirm "at this point" if it is in talks with JSW for a partnership to build battery cells. All three sources declined to be identified as the talks are still ongoing and a final decision has not been made. Tesla is also eyeing India and is in talks with the government to build EVs and batteries there.
Persons: Danish Siddiqui, JSW, LGES, China's CATL, Sajjan Jindal, CATL, Narendra Modi's, JSW's, Ola, Aditi Shah, Neha Arora, Heekyong Yang, Daniel Leussink, Miho Uranaka, Zhang Yan, Alexander Smith Organizations: REUTERS, Danish, Korea's LG Energy, Panasonic, Toshiba, JSW's, Tesla, General Motors, China's, HK, Reuters, JSW, Tata Motors, TVS, Thomson Locations: Mumbai, India, DELHI, Korea, Korean, India's, New Delhi, Seoul, Tokyo, Shanghai
The source said discussions between JSW Steel - India's largest steelmaker by capacity - and Teck over the stake sale had slowed down, although work on the paperwork continued. JSW Steel declined to comment. "We do not comment on market rumours or speculation," Teck Resources said in an emailed response to Reuters queries. JSW steel is one of the largest customers of Teck's coal business. For India, Canada is the fourth-largest exporter of coking coal used in the steel business, according to Indian government data.
Persons: Chris Helgren, Teck, JSW Steel, JSW, Glencore, Neha Arora, Divya Rajagopal, Clara Denina, Emelia Sithole, Mark Porter Organizations: Teck Resources, Developers Association of Canada, REUTERS, JSW Steel, Ottawa, British Columbia, JSW, Reuters, Investment, Standard Chartered, Deutsche Bank, Japan's Nippon Steel, Thomson Locations: Teck, Toronto , Ontario, Canada, DELHI, India, New Delhi, Canadian, British, Vancouver, Australia, Russia, United States, Toronto, London
The source said discussions between JSW Steel - India's largest steelmaker by capacity - and Teck over the stake sale had slowed down, although work on the paperwork continued. JSW Steel declined to comment. "We do not comment on market rumours or speculation," Teck Resources said in an emailed response to Reuters queries. JSW steel is one of the largest customers of Teck's coal business. For India, Canada is the fourth-largest exporter of coking coal used in the steel business, according to Indian government data.
Persons: Chris Helgren, Teck, JSW Steel, JSW, Glencore, Neha Arora, Divya Rajagopal, Clara Denina, Emelia Sithole, Mark Porter Organizations: Teck Resources, Developers Association of Canada, REUTERS, JSW Steel, Ottawa, British Columbia, JSW, Reuters, Investment, Standard Chartered, Deutsche Bank, Japan's Nippon Steel, Thomson Locations: Teck, Toronto , Ontario, Canada, DELHI, India, New Delhi, Canadian, British, Vancouver, Australia, Russia, United States, Toronto, London
Here are takeaways from Wednesday’s hearing:Judge skeptical of a quick and joint trialMcAfee expressed skepticism about Fulton County District Attorney Fani Willis’ desire to hold a joint trial for all 19 defendants in October. “It just seems a bit unrealistic that we can handle all 19 (defendants) in 40-something days,” McAfee said. Trump is at the center of the Fulton County prosecutors’ alleged conspiracy, even as they charged 18 other co-defendants for taking part in efforts to overturn the 2020 election result. Special counsel Jack Smith took a different approach in his federal election subversion case, charging Trump alone and including six unindicted co-conspirators – several of whom are now Trump’s co-defendants in Fulton County. Scott Grubman, an attorney for Chesebro, suggested Trump’s presence in the Fulton County case could cloud how a jury views the other defendants.
Persons: Donald Trump, it’s, Kenneth Chesebro, Sidney Powell, Scott McAfee, Powell –, McAfee, Fani Willis ’, Willis, ” McAfee, Nathan Wade, What’s, , Judge, Powell, Chesebro, Sydney Powell, Kenneth Chesebro Getty, Kenneth Chesbro “, Cheseboro, Michael Moore, ” Moore, , Manny Arora, ” Arora, Arora, Trump, Brian Rafferty, Rafferty, , Will Wooten, ” Wooten, Jack Smith, , Scott Grubman, ” Grubman, Grubman, Meadows, Mark Meadows, – Robert Cheeley, Jeffrey Clark, Shawn Still – Organizations: CNN, Trump, Chesebro, RICO, McAfee, White House Locations: Fulton County , Georgia, Fulton County, Georgia, Coffee County , Georgia, Coffee County, Fulton, Chesebro
Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022. Zscaler (ZS) reported strong quarterly results Tuesday evening, but Palo Alto Networks (PANW) is still the top cybersecurity pick for CNBC's Jim Cramer. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Palo Alto is the leading name, in part, because of the company's strong management, with Cramer on Wednesday calling CEO Nikesh Arora the Tom Brady of executives. The CNBC Investing Club owns Palo Alto shares.
Persons: Arora, CNBC's Jim Cramer, Zscaler, Jim Cramer's, Cramer, Nikesh Arora, Tom Brady Organizations: Palo Alto Networks, billings, CNBC Investing Club, Palo Alto Locations: Palo, Davos, Switzerland
Since lawyers Kenneth Chesebro and Sidney Powell have both filed speedy trial demands, Fulton County Superior Court Judge Scott McAfee said their trial would begin Oct. 23, but he seemed skeptical of prosecutors’ arguments that all 19 defendants could be tried together that soon. The judge said Chesebro and Powell would be tried together starting on the Oct. 23 trial date already set for Chesebro to comply with their demands for a speedy trial. Four other defendants who are also seeking to move their cases to federal court have hearings set before Jones later this month. Whenever and wherever any trial in the case ultimately takes place, jury selection is likely to be a challenge. Jury selection in a racketeering and gang case brought last year by Willis began in January and is still ongoing.
Persons: Donald Trump, Kenneth Chesebro, Sidney Powell, Scott McAfee, , Nathan Wade, Fani Willis, Chesebro, Powell, Scott Grubman, , Chesebro’s, ” Chesebro, Trump, Manny Arora, She’s, Brian Rafferty, they're, Will Wooten, Mark Meadows, Steve Jones, Jones, McAfee, Willis, Willis ’, aren’t Organizations: ATLANTA, YouTube, Trump, Chesebro, Georgia Republicans, Republican, White House, U.S, District, Atlanta Locations: Georgia, Fulton County, Coffee County
India's EV market is small, with Tata Motors (TAMO.NS) dominating sales that made up less than 2% of all cars sold last fiscal year. All sources declined to be identified as the talks are still ongoing and a final decision has not been made. Founded in 2015, Leapmotor has less than 2% share of China's fragmented EV market, where it sells four mass market electric models. This has also forced MG Motor India to find local investors like JSW so it can raise equity. Leapmotor also has been in partnership talks with other major automakers, including Stellantis (STLAM.MI) and Volkswagen (VOWG_p.DE), according to media reports.
Persons: JSW, Leapmotor, Sajjan Jindal, Aditi Shah, Zhang Yan, Neha Arora, Kim Coghill Organizations: REUTERS, DELHI, HK, MG Motor India, China's SAIC Motor Corp, EV, Tata Motors, MG Motor, Ford, JSW, Volkswagen, Thomson Locations: Jinhua, Zhejiang province, China, India, EVs, New Delhi, Shanghai
Monday Monday proved to be a harbinger for the rest of the week, beginning with purchases of GE Healthcare (GEHC) and Stanley Black & Decker (SWK). GE Healthcare and Stanley Black & Decker appeared especially attractive, leading us to buy 100 shares and 150 shares, respectively. For GEHC, we wanted to take advantage of what we believe was an unwarranted decline in the medical technology company's stock price. Our purchase of Starbucks represents another buying-into-post-earnings-weakness situation, as we did with Microsoft and Stanley Black & Decker earlier in the week. That's why on Thursday we took our Nvidia price target to $600 per share from $450, implying roughly 27% upside.
Persons: Jerome Powell's Jackson, Here's, Stanley Black, Decker, SWK, Nikesh Arora, Jim Cramer, that's, Locker, Locker's, , Jim Cramer's, Jim, Angela Weiss Organizations: Federal, GE Healthcare, Microsoft, Palo Alto Networks, Big Tech, Amazon, Starbucks, Broadcom, Devices, Nvidia, Charitable, AMD, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Danaher, New York City
Trump opposes October trial start in Georgia election case
  + stars: | 2023-08-24 | by ( Dan Mangan | ) www.cnbc.com   time to read: +2 min
Former President Donald Trump on Thursday opposed a request by an Atlanta prosecutor that he stand trial starting Oct. 23 in his Georgia election interference criminal case. Trump attorney Steve Sadow, in a court filing, also notified a judge that Trump soon will file another motion to sever his case from co-defendant Kenneth Chesebro, who on Wednesday demanded a speedy trial in Fulton County Superior Court. Fulton County District Attorney Fani Willis earlier Thursday asked Judge Scott McAfee to schedule the trial of Trump, Chesebro and the 17 co-defendants to begin Oct. 23. Trump is due to surrender later Thursday to be booked in the case. Follow our live coverage of Donald Trump's arrest in the Georgia election case.
Persons: Fani Willis, Donald Trump, Georgia's, Steve Sadow, Trump, Kenneth Chesebro, Sadow, Judge Scott McAfee, Willis, Scott Grubman, Manny Arora, Joe Biden, Donald Trump's Organizations: Trump, Fulton County Superior, Chesebro, NBC News Locations: Fulton County, Atlanta, Georgia
Palo Alto Networks CEO Nikesh Arora told CNBC's Jim Cramer on Monday that companies need integrated, modernized cybersecurity systems in order to protect themselves from "bad actors" who are getting faster at gaining access to sensitive information. Arora said the problem isn't that companies lack cybersecurity vendors. "It's important for us to make sure we're ready to deflect the stuff in hours, not in days," Arora continued. Palo Alto Networks' stock was up nearly 15% by Monday's close, likely driven by a Friday after-hours earnings report that showed the company's revenue increased 26% compared with the year-ago quarter. Palo Alto Networks' revenue came in at $1.95 billion, slightly below $1.96 billion consensus estimates, according to Refinitiv.
Persons: Nikesh Arora, CNBC's Jim Cramer, Arora, Estee Lauder, Monday's Organizations: Palo Alto, Securities, Exchange Commission, SEC, Alto Networks, Palo Alto Networks Locations: Freeport
Shares of Palo Alto Networks rose more than 14% in Monday morning trading, continuing a rally that began when the security software vendor reported stronger-than-expected fiscal fourth-quarter earnings last week. The company reported adjusted quarterly earnings per share of $1.44 versus a Refinitiv analyst consensus of $1.28 per share. There had been some concern among analysts that Palo Alto was slated to report bad news alongside its earnings, since it scheduled its earnings release date for after the bell Friday. As a result, Palo Alto stock fell as far as $208.02 after it announced its earnings release date. Palo Alto CEO Nikesh Arora described the pre-earnings concern as making for "some very interesting reading" in analyst reports.
Persons: Nikesh Arora, Brad Zelnick, Zelnick, Tal Liani Organizations: Palo Alto Networks, Palo Alto, Palo, Deutsche Bank, Bank of America, " Bank of America Locations: Palo Alto
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompanies need 2-3 year road maps to modernize and create an AI stack: Palo Alto Networks CEOPalo Alto Networks Chairman and CEO Nikesh Arora goes one-on-one with 'Mad Money' host Jim Cramer to talk quarterly results, cybersecurity, competition in the space and more.
Persons: Nikesh Arora, Jim Cramer Organizations: Companies, Alto, Palo Alto Networks
Palo Alto Networks CEO Nikesh Arora goes one-on-one with Jim CramerPalo Alto Networks Chairman and CEO Nikesh Arora goes one-on-one with 'Mad Money' host Jim Cramer to talk quarterly results, cybersecurity, competition in the space and more.
Persons: Nikesh Arora, Jim Cramer Palo, Jim Cramer Organizations: Palo Alto, Jim Cramer Palo Alto Networks
CNBC's Jim Cramer on Monday encouraged investors to stick with their own convictions when the market is turbulent or confusing. The market, he said, is currently tough, with the S&P 500 and the Nasdaq coming off three weeks of losses. "This market's best buys come not immediately after the quarter, but when the wrongheaded sellers or buyers come in," Cramer said. "Don't respect their vision, respect your own. When Palo Alto Networks ended up reporting a solid quarter, its stock recovered from the drop and was up nearly 15% by Monday's close.
Persons: CNBC's Jim Cramer, Cramer, Nikesh Arora, Monday's Organizations: Nasdaq, Palo Alto Networks, Apple, Meta, GE HealthCare, Walmart, Microsoft, Nvidia Locations: Palo, Palo Alto
Palo Alto Networks (PANW) defied the doubters with its late Friday quarterly results and strong guidance. In the nervous run-up to the earnings release, Palo Alto's stock had fallen about 16% in August. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns shares of Palo Alto Networks. On Monday, he praised Palo Alto Networks' ability to gain market share in the increasingly important cybersecurity industry. The magnitude of Palo Alto's jump Monday is due, in part, to short-sellers covering their bets against the stock, Cramer said.
Persons: It's, CNBC's Jim Cramer, Nikesh Arora, Cramer, Palo, Jim Cramer's Organizations: Palo Alto Networks, Charitable Trust, CNBC, Club Locations: Palo Alto
Arora Nikesh, Palo Alto Networks CEO & Chairman at the WEF in Davos, Switzerland on May 23rd, 2022. Palo Alto Networks shares jumped as much as 9% in extended trading on Friday after the security software vendor reported earnings that exceeded analysts' estimates. Revenue in its fiscal fourth quarter increased 26% from $1.6 billion a year earlier, Palo Alto said. Palo Alto announced its earnings date on Aug. 2. WATCH: Jim Cramer interviews Palo Alto Networks CEO Nikesh Arora
Persons: Arora, Palo, Nikesh Arora, Jim Cramer Organizations: Palo Alto Networks, Refinitiv, Refinitiv ., Refinitiv . Revenue, Palo, Palo Alto Locations: Palo, Davos, Switzerland, Refinitiv ., Palo Alto, West
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. Stocks fall, market oversold Stocks are lower again Friday, putting the S & P 500 on track for a third-straight week of declines for the first time since February. But the market is, at least, finally oversold, with the S & P 500 Short Range Oscillator at minus 4.54% following Thursday's sell-off. 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, Estee Lauder, That's, Fabrizio Freda, We'll, Palo, let's, Nikesh Arora, Jim Cramer's, Jim Organizations: CNBC, Prestige, Palo Alto Networks, Nvidia Locations: Palo, FL
Aug 18 (Reuters) - Palo Alto Networks (PANW.O) forecast annual billings above market estimates on Friday, in a sign that more businesses were turning to its integrated cybersecurity offerings to combat rising digital threats. Palo Alto projected full-year billings to be between $10.9 billion and $11.0 billion, compared with the Visible Alpha consensus estimate of $10.80 billion. Shares of Santa Clara, California-based Palo Alto have declined around 17% since it set Friday as its earnings date earlier this month — a move some analysts termed as "head scratching". Its fourth-quarter revenue grew about 26% to $1.95 billion, roughly in line with analysts' expectations, according to Refinitiv data. Palo Alto expects annual adjusted profit per share to be between $5.27 and $5.40, compared with analysts' expectations of $4.98.
Persons: billings, Nikesh Arora, Jaspreet Singh, Shilpi Majumdar Organizations: Palo Alto Networks, Palo Alto, platformization, Global, Palo, Software Technologies, Thomson Locations: billings, Santa Clara , California, Alto, Bengaluru
Here's a rapid-fire update on all 36 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Apple remains an "own it, don't trade it" stock, Jim said. Halliburton (HAL): Given we just added a new stock to the portfolio, Jim said Halliburton may be the stock we look to cut ties with. The lesson with P & G is that, sometimes, there's nothing to do but hold a stock, Jim said. Stanley Black & Decker (SWK): The maker of DeWalt and Craftsman tools is one of the best bargains in our portfolio, Jim said.
Persons: Jim Cramer's, Jim, it's, We're, , he's, he'll, we're, Dupont, Walt Disney, Estee Lauder, Locker, Mary Dillon's, Halliburton, Humana, Humana's, Linde, Eli Lilly, there's, Mark Zuckerberg's, Jim said, Morgan Stanley, James Gorman, Nikesh Arora, Elliott Management's, Elliott, Stanley Black, Decker, It's, Wells Fargo, Wells, Charlie Scharf —, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon, Federal, Bausch Health, Caterpillar, Costco, Coterra Energy, DuPont de Nemours, Comcast, Emerson, Emerson Electric, Ford, United Auto Workers, GE HealthCare Technologies, Big Tech, NFL, Halliburton, HAL, Texas, Honeywell International, Honeywell, Linde, LIN, Facebook, Reality Labs, Microsoft, Oracle, Palo Alto Networks, Procter & Gamble, Natural Resources, Starbucks, Constellation Brands, TJX, Goods, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: Bausch, China, Hulu, NBCUniversal, Palo, Macao
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