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☆ Here are Wednesday's biggest analyst calls: Nvidia, Rivian, Peloton, UPS, Eli Lilly, DraftKings and more
▼ + stars: | 2023-08-09 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS reiterates Home Depot and Lowe's as buy UBS said it sees next week's earnings reports for the home improvement retailers as a "low impact" event. JPMorgan upgrades DraftKings to neutral from underweight JPMorgan upgraded DraftKings mainly on valuation after Disney and Penn announced a partnership Tuesday. Bank of America reiterates Rivian as buy Bank of America said the electric vehicle maker is in the right place at the right time. UBS downgrades UPS to neutral from buy UBS downgraded the stock after its earnings report Tuesday and said it's concerned about cost pressures. Bank of America reiterates Nvidia as buy Bank of America said it's standing by its buy rating on the stock. "

Persons: BTIG, it's, JPMorgan, Berenberg, Marqeta, Rivian, Jefferies, Eli Lilly, GLP, LLY, Wells, Wells Fargo, Jensen Huang, Goldman Sachs Organizations: Bank of America, Walmart, UBS, JPMorgan, Disney, Penn, Barclays, Dish, State, EV, UPS, Industries, " Bank of America, Nvidia Locations: 2Q24, LLY, GTLS

☆ Credit Card, PayPal or Cash App? How You Pay Matters
▼ + stars: | 2023-08-08 | by ( Imani Moise | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Dorsey-led Block raises 2023 earnings outlook after Q2 beats estimates
▼ + stars: | 2023-08-03 | by ( Nupur Anand | ) www.reuters.com time to read: +1 min

The company reported net revenue of $5.53 billion in the three months ended June, compared with $4.4 billion a year ago, beating Refinitiv estimates. The fintech, which offers merchant payment services and an app that lets people trade cryptocurrency, said gross profit in the quarter rose 27% to come in at $1.87 billion. It also revised its earnings before interest, taxes, depreciation and amortization outlook for 2023 to $1.5 billion up from an earlier forecast of $1.3 billion. Cash App, the company’s mainstay online payments service, increased gross profit by 37% to $968 million, while its Square business reported gross profit of $888 million, up 18% from last year. On an adjusted basis, Block earned 39 cents in the second-quarter, beating analysts' estimates of 36 cents, according to Refinitiv IBES data.

Persons: Dado Ruvic, Jack Dorsey, Dorsey, Block, Nupur Anand, Jonathan Oatis, Susan Heavey, Sonali Paul Organizations: REUTERS, Thomson Locations: New York

☆ 3 people who tip for almost everything explain why they do so even if the service is bad — and how much extra they usually leave
▼ + stars: | 2023-08-01 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

While many customers don't tip, those who do are helping businesses keep their prices stable. Some people are happy to tip almost every time they are prompted, and they're helping businesses pay their employees more without cutting into profits or raising prices. Farley told Insider that he usually leaves at least a small tip whenever businesses prompt him, even if it's for something that didn't require much "actual service" — like buying a drink at the counter. A similar story is playing out at businesses across the country, Laurence Kotlikoff, an economics professor at Boston University, previously told Insider. Personal experience working in the service industry causes some customers to tip almost every chance they getCamille Rogers, a 25-year-old Manhattan-based publicist, told Insider that she usually tips whenever it's an option.

Persons: Ryan Farley, Farley, They're, Dan Moreno's, Moreno, Laurence Kotlikoff, Camille Rogers, Rogers, KaLyn McCullough, McCullough Organizations: Service, Boston University, Rogers Locations: Wall, Silicon, Austin , Texas, Dan Moreno's Miami, Manhattan, Hartford , Connecticut

Insider is recognizing the most influential talent agents and managers for TikTok creators in 2023. In a rush, he asked a friend for talent manager recommendations; Prasuna Cheruku was the answer he got. Talent agents and managers play a critical role in helping creators turn social-media success into sustainable careers in entertainment. For the fourth year, Insider is recognizing the most influential managers and agents who are helping TikTokers build their careers. Here are the 20 most influential TikTok talent-management firms and agencies in North America, listed in alphabetical order:

Persons: Drew, Jeeezy, Jackson, Lil Uzi, Prasuna Cheruku, Cheruku, she's, that's, Danielle Pistotnik, TikTok, Brendan Nahmias, they've, Alix Earle, Mylen Yamamoto Tansingco's, Kensington Organizations: Puma, Talent, WGA, SAG, Management, Hollywood, CAA, United Talent Agency Locations: Jackson, North America

☆ Here are Wednesday's biggest analyst calls: Apple, AT&T, Tesla, Amazon, Meta, Microsoft, Spotify and more
▼ + stars: | 2023-07-19 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

JPMorgan adds Qualcomm and HP Inc. to the focus list JPMorgan added HP Inc. to the focus list and said it's a top value idea. The firm also added Qualcomm to the focus list and says it's a top growth idea. JPMorgan adds Charles Schwab to the focus list JPMorgan added the stock to its focus list after its earnings report and said it sees "improving fundamentals." Bank of America reiterates Amazon as buy Bank of America said it's bullish heading into Amazon earnings later this month. Bank of America reiterates Block as buy Bank of America said shares of the company formerly known as Square are undervalued.

Persons: Tesla, it's, Charles Schwab, Schwab, Jefferies, Berkshire Hathaway, Archer, Guggenheim, ServiceNow Organizations: JPMorgan, Qualcomm, HP Inc, Watch, Cisco, " Bank of America, of America, Bank of America, Meta, UBS, Berkshire, Citi, Republic Services, Hollywood, Argus, Street, Aviation, UW, DuPont, Texas, Microsoft, Apple Locations: 2023E, 2025E, Berkshire, ACHR, EE

☆ Senate Democrats pressure PayPal, Venmo, Cash App over fraud protections
▼ + stars: | 2023-06-15 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — Senate Democrats on Thursday urged PayPal and Cash App to better protect users of their peer-to-peer payment applications from fraud. The letters were sent to PayPal president and CEO Dan Shulman and Cash App CEO Brian Grassadonia. PayPal, Venmo and Cash App did not immediately respond to a request for comment from CNBC. Cash App transactions also brought in over $203 billion in inflows among 51 million monthly users as of December 2022, according to a Block annual report. The letter is part of an ongoing inquiry into P2P platform consumer safety spearheaded by Warren over the past several years.

Persons: Sen, Sherrod Brown of, Massachusetts Sen, Elizabeth Warren, Rhode Island Sen, Jack Reed, Jack Reed and New Jersey Sen, Bob Menendez, Dan Shulman, Cash, Brian Grassadonia, PayPal's, Warren, Menendez, Reed Organizations: PayPal, Massachusetts, Block, CNBC, Pew Research Center Locations: WASHINGTON, Sherrod Brown of Ohio, Rhode Island, Jack Reed and New Jersey

☆ Suspect in Cash App founder Bob Lee's killing was suspected of stabbing 2 teens in 2005
▼ + stars: | 2023-06-13 | by ( Haven Orecchio-Egresitz | ) www.businessinsider.com time to read: +2 min

Bob Lee's suspected killer was suspected of stabbing two teens in 2005. Nima Momeni is charged with stabbing Lee on April 4 in San FranciscoMomeni was investigated, but not charged in the earlier stabbings, the San Francisco Chronicle reported. Nima Momeni, the tech consultant charged in the killing of Cash App founder Bob Lee in San Francisco, was suspected of stabbing two teenagers in what police believed was a drug dispute in 2005, the San Francisco Chronicle first reported. Before the stabbing, Momeni approached Lee after learning the tech founder had been sleeping with his sister, prosecutors said in court. "Based on my investigation, there was no romantic or sexual relationship between (Khazar) and Bob," Canny told Insider at the time.

Persons: Bob Lee's, Nima Momeni, Lee, San Francisco Momeni, Bob Lee, Momeni, Paula Canny, didn't, —, Khazar, Bob, Canny Organizations: San Francisco Chronicle, Morning, Cash, Police, Wall Street Journal, Khazar Locations: San Francisco, Albany , California, Lee's

☆ The Risks of Storing Money in Apps Like Venmo and Cash App
▼ + stars: | 2023-06-09 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Millions of Americans use mobile payment apps to pay friends, family and retailers, but they may not know that money held in the apps often lacks federal insurance protection. As more people go cashless, apps like Venmo, Cash App and Apple Cash have gained popularity as an easy way to split a dinner tab, buy stuff at yard sales or pay bills. Use of the apps increased during the pandemic, experts say, as people shifted to online shopping and contactless payment methods. Transaction volume on such apps was an estimated $893 billion last year, the bureau said, and is projected to reach $1.6 trillion by 2027. More than three-quarters of the nation’s adults say they have used one of four popular payment apps, according to the Pew Research Center.

Persons: Apple Cash Organizations: Consumer Financial, Apple, Pew Research Center

☆ CFPB warns about storing funds in payment apps like PayPal, Venmo
▼ + stars: | 2023-06-02 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

Some consumers are using services like PayPal, Venmo, Cash App and Apple Pay for direct deposit of paychecks, or simply storing lots of cash in them. Payment apps, however, are not federally insured on the institution level. PayPal Holdings (PYPL), which owns both PayPal and Venmo, did not reply to a request for comment Friday. “Tens of millions of American consumers and small businesses rely on payment apps to better spend, manage, and send their money. The agency also noted the payment apps make money by investing funds their customers store on the apps, similar to how banks invest their customers deposits.

Persons: Rohit Chopra, ” Organizations: New, New York CNN, PayPal, Financial, Bureau, Valley Bank, Signature Bank, Bank, PayPal Holdings, Financial Technology Association Locations: New York

☆ Meet the product designer going viral for his 'unhinged' ideas to improve apps — like nepotism disclosures on LinkedIn, and 'diet mode' for Uber Eats
▼ + stars: | 2023-06-02 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Since December 2022, he's also been posting ideas for what he calls "unhinged" app features on Twitter. The "fake" label was designed by Soren Iverson, an LA-based product designer at the fintech company Cash App. Since December, Iverson has been posting mockups on Twitter for cheeky app features like the LinkedIn disclosure. Sometimes, that means he's designing a batch of ideas over the weekend and pre-scheduling posts. Other times, it means he's uploading a new design to Twitter right before his deadline.

Persons: Soren Iverson, he's, —, they'd, doesn't, Iverson Organizations: Twitter, Morning, LinkedIn, Google Locations: LA, Pacific

☆ Why a federal government agency is warning people not to keep a lot of money sitting in Venmo, PayPal, or Cash App
▼ + stars: | 2023-06-02 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

The Consumer Financial Protection Bureau advised Americans against storing money in payment apps. Surveys have found that about 76% of all Americans have used an app like Venmo at least once. Money stored in apps is often not insured, unlike deposits at larger banks insured by the government. You should probably stop leaving money in your Venmo and PayPal accounts for days, weeks, or even months at a time. That's the official view of a federal government agency that is warning users of popular payment apps like Venmo, PayPal, Cash App, and more that they should avoid keeping large amounts of money on the app because it could be at risk.

Persons: That's, Rohit Chopra Organizations: Consumer Financial, Bureau, Morning, PayPal

☆ Money stored in payment apps like Venmo may be more vulnerable than bank deposits, CFPB says
▼ + stars: | 2023-06-01 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — Money held in non-bank, peer-to-peer payment apps is not guaranteed for federal deposit insurance protection, which makes the funds more vulnerable, the Consumer Financial Protection Bureau warned on Thursday. More than three-quarters of U.S. adults have used a payment app, according to the Pew Research Center. Some invest the money in interest-earning loans and bonds instead of depositing into a traditional bank or credit union. But the insurance is only provided under certain conditions and does not protect users' money if the parent app collapses. Until then, app users must be proactive in moving money into an insured financial facility until a method is adopted, the agency said.

Persons: Millennials, Rohit Chopra, CFPB, Chopra, Elon Musk, Zelle Organizations: WASHINGTON, Consumer Financial, Pew Research Center, Twitter, PayPal Locations: U.S, Venmo

☆ Disney Scrapping Florida Campus, Shuttering Hotel Amid DeSantis Feud
▼ + stars: | 2023-05-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Bob Lee Murder: The Story of the Cash App Founder and His Alleged Killer The fatal stabbing of Bob Lee rocked Silicon Valley. WSJ’s Kirsten Grind reveals details about what brought the Cash App founder and his alleged killer together, and explains what prosecutors say happened the night of his death. Photo Illustration: Preston Jessee

☆ Bob Lee Murder: The Story of the Cash App Founder and His Alleged Killer
▼ + stars: | 2023-05-20 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

Elon Musk Picks NBCU’s Linda Yaccarino to Lead Twitter. Here’s Why Twitter’s next CEO, Linda Yaccarino, is well-known for her tight relationship with ad agencies and her hard-nosed negotiating tactics. WSJ’s Suzanne Vranica explains what she can bring to the social media company. Photo: Charles Sykes/NBCUniversal/Getty Images

☆ Cash App founder Bob Lee's accused killer Nima Momeni just pleaded not guilty
▼ + stars: | 2023-05-18 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

Nima Momeni pleaded not guilty to charges that he murdered Cash App founder Bob Lee, the San Francisco Chronicle reported. San Francisco prosecutors had charged Momeni after his arrest last month in Emeryville, California. Tech consultant Nima Momeni pleaded not guilty on Thursday to San Francisco prosecutors' charge of murder in the killing of Cash App founder Bob Lee last month in downtown San Francisco. Momeni entered the plea at an arraignment in San Francisco state court, according to a report by the San Francisco Chronicle. They alleged at the time that Momeni grilled Lee about Momeni's sister socializing with Lee.

☆ Cash App founder Bob Lee dated his murder suspect's ex-girlfriend before he started seeing his sister, friends said. The suspect's lawyer disputes claims of an affair.
▼ + stars: | 2023-05-15 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

Nima Momeni is facing a murder charge in connection to the death of Cash App founder Bob Lee. At a later point, Lee began casually sleeping with Momeni's sister, Khazar, per WSJ. Prosecutors previously alleged in court documents that Momeni confronted Lee that night about his sister, Khazar, before the stabbing. Afterward, friends familiar with the matter said that Lee started sleeping with Khazar Momeni, who is married to Dino Elyassnia, a well-known San Francisco-based plastic surgeon. She told WSJ that, if anything, Lee may have been microdosing ketamine to treat depression.

SAN FRANCISCO—In certain wealthy tech circles it is known as “The Lifestyle,” an underground party scene featuring recreational drug use and casual sex. A successful tech executive named Bob Lee liked to hang out with that crowd, according to people who also participated. So, too, did Khazar Momeni , the wife of a prominent plastic surgeon, these people said.

☆ Cash App founder Bob Lee was having an affair with the sister of his alleged killer, friends say
▼ + stars: | 2023-05-14 | by ( Bethany Biron | ) www.businessinsider.com time to read: +4 min

Cash App founder Bob Lee was having an affair with his accused killer's sister, Khazar Momeni, sources told WSJ. Khazar's brother, Nima Momeni, is in jail on murder charges in the fatal stabbing of Lee last month. Sources said Lee and Khazar were both part of "The Lifestyle," an underground San Francisco party scene. Cash App founder Bob Lee, who was stabbed to death last month, was having an affair with the sister of his alleged killer, Nima Momeni, according to a new report from the Wall Street Journal. According to witnesses at the scene, Lee told Nima that his sister had not taken any drugs and "nothing inappropriate had happened."

☆ Cash App founder Bob Lee was part of an underground party scene of sex and drugs called 'The Lifestyle' prior to his death, report says
▼ + stars: | 2023-05-14 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

Cash App founder Bob Lee was part of an underground sex, drug, and party scene for years prior to his death, WSJ reported. Friends and coworkers of Lee spoke to the Journal about the late tech executive's life. The report also provides new possible connections between Lee and his alleged killer, Nima Momeni. Cash App founder Bob Lee, who was killed in San Francisco in April, reportedly spent years participating in "The Lifestyle," an underground party scene known for recreational drugs and casual sex in San Francisco. The report also shed further light on the possible ties between Lee and his accused killer, tech consultant Nima Momeni.

☆ Block's Amrita Ahuja on Cash App growth and profits drive
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlock's Amrita Ahuja on Cash App growth and profits driveAmrita Ahuja, Block chief financial officer, joins 'Squawk on the Street' to discuss the company's earnings beat due to a Cash App profit drive.

[1/2] Block Inc logo is seen displayed in this illustration taken, April 10, 2023. Shares of Block, formerly called Square, rose more than 4% in extended trading on Thursday. Prior to market close, its stock was down more than 10% from the beginning of this year. Block has denied the allegations and has said it would explore legal action against the short seller. Short sellers like Hindenburg typically sell borrowed securities and aim to buy these back at a lower price.

☆ Cash App creator Bob Lee's autopsy shows he died of 3 stab wounds. His suspected killer's defense is pointing to drugs found in his system.
▼ + stars: | 2023-05-03 | by ( Sindhu Sundar | Lloyd Lee | ) www.businessinsider.com time to read: +4 min

Cash App founder Bob Lee died from stab wounds that damaged his heart, a medical report reveals. Lee had himself called 911 after he was attacked in downtown San Francisco last month. The medical report states that the police officers attempted CPR when they found Lee, who had sustained wounds on his "left upper chest." (Gabrielle Lurie/San Francisco Chronicle via AP, Pool) (Gabrielle Lurie/San Francisco Chronicle via AP, Pool)Canny told reporters outside the courtroom that Lee's toxicology report would factor in the case. Representatives for the San Francisco District Attorney's office did not respond to Insider's emailed request for comment on Tuesday.

☆ 10 Things in Tech: AI-generated Drake songs, discounted startups, and Amazon’s upgraded Alexa
▼ + stars: | 2023-05-03 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and in this turbulent economy, I definitely want stability over most other things. And my colleague Grace Mayer highlights how retail, finance, and other (seemingly more stable) industries are piquing our interest instead. A leaked document viewed by Insider revealed that Amazon wants to focus on entertainment features for Alexa. The upgrade will feature Amazon's own generative AI technology instead of using OpenAI's technology (like how Microsoft paired ChatGPT with Bing). Bell dished to my colleague Ashley Stewart on why he made the move, how he met Satya Nadella, and more.

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