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☆ Wall Street ends flat, gives up most gains after July inflation data
▼ + stars: | 2023-08-10 | by ( David French | ) www.reuters.com time to read: +4 min

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 26, 2023. Data showed headline and core consumer prices both climbed by 0.2% in July, with the headline number notching annual rise of 3.2% and the core up 4.7%. He noted that while inflation has slowed, a look beyond the headline number revealed that core inflation remained sticky, and as traders parsed the data, the initial positive sentiment became more subdued. In separate data, the number of Americans filing new claims for unemployment benefits rose by 248,000 last week, exceeding estimates of 230,000. On the earnings front, Walt Disney (DIS.N) rose after beating Wall Street estimates for quarterly adjusted profit per share.

Persons: Brendan McDermid, Gregg Abella, Mary Daly, Walt Disney, Michael Kors, Tapestry's, Alibaba, Joe Biden, Bansari Mayur Kamdar, Johann M, David French, Shashwat Chauhan, Shubham Batra, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Disney, U.S . Federal, Investment Partners, Management, Francisco Fed, Nasdaq, Treasury, Nvidia Corp, Microsoft, Apple, Dow Jones, Wall, Wednesday, Thomson Locations: New York City, U.S, China, Bengaluru, New York

☆ A 27-year-old investor who's building a retirement portfolio of $2 million in 8 years shares the 3 index funds he's betting on, including one with an over 500% return in the last 10 years
▼ + stars: | 2023-08-05 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

So far, he has accumulated $47,400 in a brokerage account and another $72,774 in a retirement account, according to records viewed by Insider. His top 3 favorite index fundsA majority of his retirement account sits in index funds. One of his top holdings is the Vanguard 500 Index Fund ETF (VOO), which tracks the S&P 500. The second index he holds that is tied in ranking is the Vanguard Information Technology Index Fund ETF (VGT). Finally, his third-largest holding is the Vanguard Growth Index Fund ETF (VUG).

Persons: Austin Hankwitz, TikTok, Hankwitz, Roth, I've Organizations: Vanguard, Companies, Vanguard Information Technology Index Fund, Apple, Microsoft, Nvidia, Broadcom, Index Locations: Nashville , Tennessee, VGT

☆ Apple sees sales slump continuing, shares drop 2% despite beating sales expectations
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +5 min

Executives said iPhone sales would improve in the fourth quarter, but did not say how much. Weaker iPhone sales were balanced by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That sales forecast is below analyst expectations of roughly flat fiscal fourth-quarter sales of $90.19 billion, according to Refinitiv data. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Luca Maestri, Daniel Newman, Maestri, Tim Cook, We've, We're, Cook, Apple, Jeremy Goldman, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Wall, Apple, Android, Futurum, Reuters, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, CHINA, San Francisco, Bengaluru

☆ Apple profit tops Wall Street targets, strong services counter weaker iPhone
▼ + stars: | 2023-08-03 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Logo of an Apple store is seen as Apple Inc. reports fourth quarter earnings in Washington, U.S., January 27, 2022. IPhone sales slightly missed analyst estimates, but were made up for by strong sales in the services segment that contains Apple TV+ and by sales in China that grew 8% year over year. That helped Apple push sales in its greater China region to$15.76 billion, from $14.60 billion in last year's same quarter. Apple said iPhone sales were $39.67 billion, below analyst expectations of $39.91 billion, according to Refinitiv data. Mac and iPad sales were $6.84 billion and $5.79 billion, respectively, compared with analyst estimates of $6.62 billion and $6.41 billion, according to Refinitiv data.

Persons: Joshua Roberts, Tim Cook, We've, We're, Cook, Apple, Stephen Nellis, Yuvraj Malik, Peter Henderson, Matthew Lewis Organizations: Apple Inc, REUTERS, Apple, Reuters, Android, Big Tech, Microsoft, Google, Research, Major League Soccer, Apple Watch, Thomson Locations: Washington , U.S, China, San Francisco, Bengaluru

☆ Stocks making the biggest moves after hours: Apple, Amazon, Airbnb, Coinbase and more
▼ + stars: | 2023-08-03 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Amazon reported earnings of 65 cents a share, ahead of the 35 cents expected by analysts, per Refinitiv. Airbnb — Shares slid 1% after the company reported its second-quarter earnings. Dropbox — The online collaboration platform advanced 3% on the back of strong second-quarter earnings. Square — Shares of the payments tech company dipped more than 4% in after-hours trading even after the firm reported second-quarter earnings and revenue above expectations. Square reported earnings of 39 cents per share, versus analysts' 36 cents estimate per Refinitiv.

Persons: Refinitiv, Fortinet, DraftKings, Airbnb, Coinbase, Dropbox, — Redfin, Redfin, Darla Mercado, Hakyung Kim, Sarah Min, Samantha Subin, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Booking Holdings, Analysts, Tagger Media

☆ We're not reducing emissions fast enough, says professor
▼ + stars: | 2023-08-02 | 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 EmailWe're not reducing emissions fast enough, says professorRadley Horton of Columbia University Climate School discusses extreme weather conditions and says "we do need some big technology advances to help us out, given the scope of the challenge."

Persons: Radley Horton Organizations: Columbia University Climate School

☆ These are the most overweighted and underweighted stocks by socially conscious funds, according to Bernstein
▼ + stars: | 2023-08-02 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

A handful of the most well-known technology stocks are being somewhat ignored by socially conscious funds, according to Bernstein. Big technology names including Apple , Amazon , Meta , Microsoft and Alphabet were among the most underweighted stocks by North American funds that consider environmental, social and corporate governance factors when screening investment ideas. Big Tech has roared back to life this year, coming off 2022's selloff as investors bet on a better interest rate environment. Here are the 10 most underweighted stocks by North American funds: On the flip side, a wide swath of stocks accounted for the most held, relatively. Barclays analyst Craig Rye said the stock could actually benefit if hurricane season is worse than was previously expected.

Persons: Bernstein, Danaher, Craig Rye, Rye, —, Michael Bloom Organizations: Apple, Meta, Microsoft, North, Big Tech, Software, Nvidia, Insurance, Barclays, Fisher, Deere

☆ All eyes on Apple: Smartphone shipments drop 24% year-over-year in Q2
▼ + stars: | 2023-07-31 | 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 EmailAll eyes on Apple: Smartphone shipments drop 24% year-over-year in Q2Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC. Alex Kantrowitz, Big Technology founder, and Gene Munster, Deepwater Asset Management, join the show to discuss Apple ahead of earnings.

Persons: Brian Sullivan, “, Alex Kantrowitz, Gene Munster Organizations: CNBC, Big Technology, Deepwater Asset Management, Apple

U.S. annual inflation slowed considerably in June, likely pushing the Federal Reserve closer to ending its fastest interest rate hiking cycle since the 1980s, data showed on Friday. Barclays said investors flocked to equities this week, with inflows of $10 billion to U.S.-listed stocks, according to a note to clients. On the earnings front, Intel's (INTC.O) results and forecast pointed to an improving PC market, sending the chipmaker's shares up. The yield on the U.S. 10-year note slipped from 4% hit in the previous session, lifting megacap growth and technology stocks sharply higher. Reata Pharmaceuticals (RETA.O) surged after Biogen (BIIB.O) agreed to buy the rare disease drugmaker for nearly $6.5 billion.

Persons: Scott Ladner, Win Murray, Diamond Hill, Jerome Powell, Peers, Dow, Jim Farley, Carolina Mandl, Kamdar, Johann M, Maju Samuel, Deepa Babington Organizations: Horizon Investments, Federal Reserve, Nasdaq, Dow Jones, Barclays, Peers Nvidia, Marvell Technology, Treasury, Bank of Japan, Procter & Gamble, Ford, Enphase Energy, Juniper Networks, Exxon Mobil, Chevron, Reata Pharmaceuticals, Thomson Locations: China, U.S, New York, Bengaluru

☆ I'm surprised by Meta's complete turnaround, says Big Technology's Alex Kantrowitz
▼ + stars: | 2023-07-27 | 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 EmailI'm surprised by Meta's complete turnaround, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Closing Bell' to discuss the founder's thoughts on Meta's earnings results, Meta's ability to turn the story around, and if Threads is a real competitor to Twitter.

Persons: Meta's, Big, Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology, Twitter

For Yavuz and his counterparts, there's serious appeal in having another ad-supported app inside Meta's ad manager. Once Meta adds a check box to extend ads to Threads, ad buyers will check it. Facebook's ads, technology, and interfaces are much better than Twitter's," said Trevor Dudeck, CEO of ad agency Lemonade. "If it's just the same thing as Instagram, that's not going to be as enticing," said one executive at a major digital advertising agency. When Zuckerberg inevitably adds the Threads checkbox to Meta's ad platform, it'll be ominous for Twitter's flailing ad business.

Persons: Alex Kantrowitz, Kantrowitz, Meta hasn't, Mark Zuckerberg, Ahmet Yavuz, Yavuz, Carly London, Curly, it's, David Herrmann, Herrmann, They're, Carl Bivona, Trevor Dudeck, Josh Keller, Elon Musk's, that's, Zuckerberg, I've Organizations: Big Technology, Morning, Meta, ASY, Twitter, Instagram, Facebook, Google, it's Meta, Herrmann Digital, Union Square Media, Wall Street Locations: Meta

☆ Snap's advertising technology 'just isn't there', says Big Technology's Alex Kantrowitz
▼ + stars: | 2023-07-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSnap's advertising technology 'just isn't there', says Big Technology's Alex KantrowitzAlex Kantrowitz, ‘Big Technology’ founder, joins 'Squawk Box' to discuss shares of Snap plunging following disappointing Q3 sales forecast, social media's ad spend, the digital advertising market at large, and more.

Persons: Big, Alex Kantrowitz Alex Kantrowitz Organizations: Technology

☆ Stocks making the biggest moves after hours: Microsoft, Alphabet, Snap, Teladoc and more
▼ + stars: | 2023-07-25 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

The company posted earnings of $1.44 per share on $74.6 billion of revenue. Analysts called for earnings of $1.34 per share, adjusted, and revenue of $72.82 billion, per Refinitiv. Still, the company posted earnings of $2.69 per share, compared to the $2.55 per share anticipated by analysts, per Refinitiv. Wells Fargo — Shares of the bank jumped 3% in extended trading after Wells Fargo announced a $30 billion share buyback program. Teladoc said it lost 40 cents per share in its second quarter, beating analysts' estimates for a 41 cent loss per share, per Refinitiv.

Persons: Ruth Porat, Wells, Robert Half —, Refinitiv, Teladoc Organizations: Google, Revenue, Microsoft, Texas, — Texas, FactSet . Texas, NASA, Management Locations: Mountain View , California, United States

☆ Netflix making the right moves to survive in this economy, says Big Tech's Alex Kantrowitz
▼ + stars: | 2023-07-19 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNetflix making the right moves to survive in this economy, says Big Tech's Alex KantrowitzAlex Kantrowitz, Big Technology, joins 'Closing Bell' to discuss Netflix, which is set to report earnings after the bell and outlook for the company.

Persons: Big, Alex Kantrowitz Alex Kantrowitz Organizations: Netflix, Big Technology

☆ Watch CNBC’s full interview with Big Technology's Alex Kantrowitz and Odyssey's Jason Snipe
▼ + stars: | 2023-07-19 | 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 EmailWatch CNBC’s full interview with Big Technology's Alex Kantrowitz and Odyssey's Jason SnipeAlex Kantrowitz, Big Technology and Jason Snipe, Odyssey Capital Advisors, join 'Closing Bell' to discuss Netflix, which is set to report earnings after the bell and outlook for the company.

Persons: Big, Alex Kantrowitz, Jason Snipe Alex Kantrowitz, Jason Snipe Organizations: Big Technology, Odyssey Capital Advisors, Netflix

☆ This software stock more than doubled on the back of A.I. mania. Here's why Wall Street expects the rally to fade
▼ + stars: | 2023-07-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Shares of Palantir have surged 181% this year as investors bet on its potential in the booming artificial intelligence race. The company, founded in 2003, is already making strides in AI, even lending its tools to hospitals . In its latest earnings release in early May, CEO Alex Karp called demand for Palantir's AI platform, which allows commercial and government sectors to use LLMs with their own private data, "without precedent." While some analysts see promise in Palantir's AI capabilities, many remain cautious on the immediate profit contribution of the technology and view the stock as ripe for a pullback. In a note to clients in May, Morgan Stanley's Keith Weiss noted that the rally in Palantir shares and premium valuation creates an unfavorable near-term risk-reward.

Persons: Palantir, Alex Karp, Malik Ahmed Khan, Davidson's Gil Luria, Raymond James, Brian Gesuale, Morgan Stanley's Keith Weiss, Karp, Morningstar's Khan, Mizuho's Matthew Broome, Davidson's Luria, — CNBC's Michael Bloom Organizations: Wall, Nvidia, billings Locations: Denver

☆ Big Technology's Alex Kantrowitz weighs in on the tech news of the day
▼ + stars: | 2023-07-17 | 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 EmailBig Technology's Alex Kantrowitz weighs in on the tech news of the dayBig Technology Founder Alex Kantrowitz discusses news from Microsoft and Sony, Tesla's cybertruck, and Cathie Wood's ARK Innovation ETF.

Persons: Alex Kantrowitz, Tesla's cybertruck Organizations: Big Technology, Microsoft, Sony

GANDHINAGAR, India, July 16 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Sunday she was "eager" to work with China on areas of mutual interest, including debt restructurings for poorer countries, and that multilateral development banks needed reforms before capital increases could be considered. "I am eager to build on the groundwork that we laid in Beijing to mobilise further action." U.S. corporations want to see an environment where they could "invest and thrive in China", Yellen said. She said a debt restructuring "user guide" was needed for borrowing countries and other stakeholders to provide clarity about the process. "We should build better banks, not just bigger banks," Yellen said.

Persons: Janet Yellen, Yellen, David Lawder, Aftab, Sudipto Ganguly, William Mallard Organizations: . Treasury, U.S ., Sri, International Monetary Fund, U.S . Treasury, IMF, World Bank, Bank, U.S, Thomson Locations: GANDHINAGAR, India, China, Beijing, U.S, Washington, Moscow, Ukraine, Russia, Gandhinagar, Indian, Gujarat, Sri Lanka, Ghana, United States, Congress, Aftab Ahmed

☆ Threads could take energy away from Instagram and hurt Meta's battle with TikTok: Alex Kantrowitz
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThreads could take energy away from Instagram and hurt Meta's battle with TikTok: Alex KantrowitzRachel Karten, consultant for CAVA and West Elm, and Alex Kantrowitz, Big Technology founder, join 'Tech Check' to discuss Threads successful launch and what the app means for Meta's future.

Persons: Alex Kantrowitz Rachel Karten, Alex Kantrowitz Organizations: West Elm, Big Technology Locations: Instagram, CAVA, West

☆ Threads takes a Reels-like algorithm and applies it to a Twitter-like space, says Alex Kantrowitz
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThreads takes a Reels-like algorithm and applies it to a Twitter-like space, says Alex KantrowitzBig Technology's Alex Kantrowitz joins 'Closing Bell' to discuss the size of opportunity for Meta's Threads, the revenue potential for Threads, and fragmentation in the social media space.

Persons: Alex Kantrowitz Big, Alex Kantrowitz

☆ A.I. enthusiasm drove up stocks this year. Here's how investors can catch the next opportunity
▼ + stars: | 2023-07-02 | by ( Samantha Subin | ) www.cnbc.com time to read: +6 min

Six months later, the promise of generative AI has boosted the Nasdaq Composite 31.7%, notching its best first half since 1983 . Betting on Nvidia Nvidia took Wall Street by storm this year. No matter how AI evolves, Nvidia was seen by many investors as a main beneficiary. Even with the stock's stellar performance, and recent entrance into the $1 trillion market cap club, investors aren't shying away just yet. "There will be an opportunity to get into some of these stocks at probably better levels than you're at now," Szilagyi said.

Persons: ChatGPT, Ken Mahoney, Mahoney, Jan Szilagyi, aren't shying, Sylvia Jablonski, Paul Meeks, Meeks, it's, Jordan Stuart, Eli Lilly's Mounjaro, Stuart, Szilagyi Organizations: Microsoft, Nasdaq, Nvidia, Meta, Apple, Mahoney Asset Management, Nvidia Nvidia, Nvidia —, Independent Solutions, Management, Investors, Big Tech, Federated Hermes, Novo Nordisk's Ozempic Locations: Hong Kong

☆ AI company Runway valued at $1.5 bln in latest funding -source
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - AI company Runway has been valued at $1.5 billion in its latest round of funding, a source familiar with the matter said on Thursday, after it raised $141 million from investors, including Alphabet-owned Google (GOOGL.O) and Nvidia (NVDA.O). The extension to the Series C funding round was also led by Salesforce Ventures and existing investors, the company said in a statement. Runway's software allows users to transform or tweak existing videos or create new videos by using text prompts or images. The company also launched a mobile app earlier this year, giving its users access to its generative AI tools. Reporting by Jaiveer Singh Shekhawat in Bengaluru and Krystal Hu in Toronto; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Jensen Huang, Jaiveer Singh, Krystal Hu, Anil D'Silva Organizations: Runway, Nvidia, Salesforce Ventures, Thomson Locations: Bengaluru, Toronto

☆ AI company Runway valued at $1.5 billion in latest funding
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 29 (Reuters) - AI company Runway has been valued at $1.5 billion in its latest round of funding, a source familiar with the matter said on Thursday, after it raised $141 million from investors, including Alphabet-owned Google (GOOGL.O) and Nvidia (NVDA.O). The extension to the Series C funding round also included Salesforce Ventures and Runway's existing investors, the company said in a statement. Runway's software allows users to transform or tweak existing videos or create new videos by using text prompts or images. The company also launched a mobile app earlier this year, giving its users access to its generative AI tools. Earlier in the day, another AI startup Inflection raised $1.3 billion from Microsoft at a valuation of $4 billion, a source familiar with the matter told Reuters.

Persons: Jensen Huang, Jaiveer Singh, Krystal Hu, Anil D'Silva Organizations: Runway, Nvidia, Salesforce Ventures, Microsoft, Reuters, Thomson Locations: Bengaluru, Toronto

☆ Watch CNBC’s full interview with Big Tech founder Alex Kantrowitz and BNY Mellon’s Alicia Levine
▼ + stars: | 2023-06-28 | 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 EmailWatch CNBC’s full interview with Big Tech founder Alex Kantrowitz and BNY Mellon’s Alicia LevineAlex Kantrowitz, Big Technology founder, and Alicia Levine, head of equities and capital market advisory at BNY Mellon Wealth Management, join 'Closing Bell' to discuss Apple stock, the tech rally, and more.

Persons: Alex Kantrowitz, BNY Mellon’s Alicia Levine Alex Kantrowitz, Alicia Levine Organizations: Big Tech, Big Technology, Mellon Wealth Management, Apple

☆ Generative A.I. has created an iPhone moment, but no product, says Big Tech's Alex Kantrowitz
▼ + stars: | 2023-06-28 | 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 EmailGenerative A.I. has created an iPhone moment, but no product, says Big Tech's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Closing Bell' to discuss Apple's stock, the iPhone 15, and its normally big third quarter.

Persons: Big, Alex Kantrowitz Alex Kantrowitz Organizations: Big Technology

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