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☆ Stocks making the biggest moves premarket: General Mills, U.S. Steel, V.F. Corp., ResMed, and more
▼ + stars: | 2024-09-18 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

United States Steel — Shares advanced more than 3% after Reuters reported the Committee on Foreign Investment in the United States granted a request to push back a review of Nippon Steel's bid for U.S. Steel until after the November election. General Mills — Shares were 1% lower after profit for the packaged foods company dropped 14% last quarter on lighter margins due to higher input costs. Intuitive Machines — Shares of the space exploration company surged more than 52% after it received a nearly $5 billion space network contract from NASA . ResMed - Shares slipped 2.7%, on light trading volume, following a downgrade at Wolfe Research to underperform from peer perform. Corp to overweight from equal weight , saying the risk-reward for the apparel company behind The North Face and Vans is attractive.

Persons: Mills, Eli Lilly's GLP, — CNBC's Michelle Fox, Sarah Min Organizations: United States Steel, Reuters, Foreign Investment, Nippon, U.S . Steel, Casella Waste, NASA, Wolfe Research, —, Barclays upgra ded, Corp, Microsoft, BlackRock Locations: United States

7:02 a.m.: JPMorgan hikes Roku price target Roku's focus on monetization for its Platform segment may spell good news for the stock. Analyst Cory Carpenter kept his overweight rating on the stock but upped his price target by $10 to $90. "We believe Lilly's launch of an obstructive sleep apnea (OSA) indication for its GLP-1 medication tirzepatide poses significant patient funnel disruption/distortion risks," the analyst wrote. Analyst Sara Senatore upped its price target by $6 to $118, which implies more than 22% upside from Tuesday's close. "Licensing China would also allow SBUX management to train its focus on the US (73% of 2023 EBITDA before corporate expenses)," the analyst wrote in a Wednesday note.

Persons: Goldman Sachs, Cory Carpenter, Carpenter, Roku, TTD, they've, — Sean Conlon, Wolfe, Resmed Wolfe, Mike, Eli Lilly, Sara Senatore, Senatore, Brian Niccol's, Lizzie Dove, Hilton, Dove, Adrienne Yih, Yih, Fred Imbert Organizations: CNBC, Marriott International, Barclays, Corp, JPMorgan, Google, Amazon, Bank of America, Marriott, Wyndham, Hilton, VF Corp Locations: Starbucks, China, Tuesday's, Timberland, VFC

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Meta, Marriott, Starbucks, Roku & more
▼ + stars: | 2024-09-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Stifel initiates Penumbra as buy Stifel said it's bullish on shares of the medical device company. Bank of America reiterates FedEx as buy Bank of America lowered its price target to $345 per share from $347 but said it's bullish heading into earnings next week. " Bank of America reiterates TJX Companies, Burlington and Ross as buy Bank of America said the off-price retailers are best positioned for younger generations. Bank of America reiterates Starbucks as buy The firm said it's standing by shares of the coffee giant. Bank of America reiterates Alphabet, Meta, Amazon and Uber as buy Bank of America said the internet tech companies are the best way for "more defensive positioning."

Persons: Stifel, it's, Bernstein, Apple, Morgan Stanley, Tesla, BTIG, JPMorgan, Wells, Wolfe, Ross, ROST, Goldman Sachs, Goldman, Needham, Uber, William Blair Organizations: PEN, HSBC, KKR, Co, Apple, Bank of America, FedEx, GE Healthcare, UBS, Talen Energy, JPMorgan, Civitas Resources, Micron, MU, Barclays, TJX Companies, BURL, Marriott, Computer, Guggenheim, Sirius XM, " Bank of America, Google, Nvidia, Broadcom Locations: China, Burlington, InfiniBand

Combs on Tuesday pleaded not guilty to each count: racketeering conspiracy, sex trafficking and transportation to engage in prostitution. The lawsuit accuses Combs and other defendants of sex trafficking, human trafficking, sexual assault, gender-motivated violence, sexual harassment, gender discrimination and a hostile work environment. Diddy is not accused of sexual assault in the lawsuit but is included in allegations of liability and aiding and abetting. Lampros accuses Combs of four instances of sexual assault from the mid-1990s to the early-2000s. July 3: Adria English, a former adult film actress, accuses Combs of sex trafficking and sexual assault in a federal lawsuit filed in New York.

Persons: CNN —, Sean “ Diddy ” Combs, Combs, Combs ’, Diddy, Casandra, Cassie ” Ventura, Ben Brafman, Mr, “, ”, Ventura, ” Combs, Brafman, Joi Dickerson, Neal, Liza Gardner, Aaron Hall, Guy, Gardner, Instagram, Jane Doe, ” Douglas, Wigdor, Rodney “, Rod ” Jones, Jones, Shawn Holley, Sean, Aaron Dyer, Christian Combs, Grace O’Marcaigh, Dyer, ” Sean Combs, Cassie Ventura, Ventura –, I’m, Meredith Firetog, Cassie, ‘, ’, Firetog, Crystal McKinney, drugging, Lampros, Eric Adams, Adams, Howard, Sean Combs, ” Jonathan Davis, Singer Dawn Richard, Danity Kane, Combs “, ” Ventura, Erica Wolff, Richard, Christine Cornell, Prosecutors, CNN’s Nicki Brown, John Miller, Eric Levenson, Alli Rosenbloom, Kristina Sgueglia, Lisa Respers France, Sandra Gonzalez Organizations: CNN, Prosecutors, Howard University, Ventura, New York Supreme, Syracuse University, Diddy, of, Homeland Security, InterContinental, MTV, New York’s Fashion Institute of Technology, Howard University’s, Sean Combs Foundation, Adria Locations: Los Angeles, Miami, New York City, Here’s, New York, Southern, of New, Century City, Ventura

☆ Stocks making the biggest moves midday: Intuitive Machines, U.S. Steel, Victoria's Secret and more
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading: Intuitive Machines — Shares soared 51% after the space exploration company secured a roughly $5 billion space network contract from NASA. The move is likely intended to push a decision on the politically controversial takeover past the presidential election in November. Victoria's Secret — The intimate apparel maker gained 5% after Barclays upgraded shares to equal weight from underweight, citing a more balanced risk/reward backdrop. The investment firm said VF Corp should start to see benefits from last year's CEO change this fall. Casella Waste Systems — The recycling company fell 5% after announcing a $400 million public offering of its Class A common stock.

Persons: Steward, McGrath RentCorp —, McGrath, Eli Lilly's GLP, — CNBC's Sean Conlon, Michelle Fox, Lisa Han, Yun Li, Jesse Pound, Pia Singh Organizations: NASA, United States Steel, Nippon Steel, Barclays, Medical Properties, Medical Properties Trust, WillScot Holdings, Wolfe Research, Casella Waste Systems Locations: U.S

☆ Fed has 'nothing to lose' with 50 bp cut, says Wolfe Research's Stephanie Roth
▼ + stars: | 2024-09-17 | 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 EmailFed has 'nothing to lose' with 50 bp cut, says Wolfe Research's Stephanie RothStephanie Roth, chief economist at Wolfe Research, and CNBC's Steve Liesman join 'The Exchange' to discuss expectations for the Fed, why credit card data may be understating consumer spending, and more.

Persons: Wolfe, Stephanie Roth Stephanie Roth, Steve Liesman Organizations: Fed, Wolfe Research

She, like 2,000 other state residents, is awaiting approval for aid through a community advocacy program. Resumed funding for LIHEAP is dependent on an appropriations bill used to fund the government. “We had calls during our latest heat wave, and our agencies just don’t have the LIHEAP funding,” Sarensen said. Unlike those so-called entitlements, LIHEAP funding can be depleted without helping everyone who qualifies. Neither Vice President Kamala Harris nor former President Donald Trump has mentioned direct utility or weatherization aid in their campaigns for the White House.

Persons: Cathy McCorkle, she’s, ”, “, won’t, Mark Wolfe, “ There’s, Wolfe, LIHEAP, Bridget Bennett, Brian Sarensen, Sarensen, ” Sarensen, That’s, “ It’s, Stephanie Ashley, We’ve, Ashley, “ We’ve, We’re, we’re, ” “, Kamala Harris, Donald Trump, Karen Lusson Organizations: U.S, Low Income, Energy Assistance, National Energy Assistance, Association, Center for Energy, Opera, Washington, Getty Images, Commerce Department, Law, SNAP, Washington , D.C, House Republicans, White, U.S . Treasury Department, National Consumer Law Locations: Mount Holly , North Carolina, San Diego, Death Valley, Calif, Washington, Phoenix, Oregon, North Carolina, Washington ,

☆ Stocks are near record highs despite turmoil and 'erratic price action'
▼ + stars: | 2024-09-13 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite are headed for their fourth weekly gain in five weeks, up 3.5% and 5.3%, respectively. Those gains have come even after a massive but brief intraday sell-off Wednesday — which was quickly erased after the S & P 500 stayed above a key level. .SPX 5D mountain SPX 5-day chart Indeed, after all the wild swings, the S & P 500 is a scant 1.2% below an intraday record of 5,669.67 reached in July. "Erratic price action in equities suggests confusion amid ever changing market narratives," Cau wrote. "Therefore, equity price action may stay volatile and data dependent, until we get more clarity on the economic outlook."

Persons: Rob Ginsberg, Emmanuel Cau, Cau Organizations: Nasdaq, Dow Jones, Wolfe Research, Fed, Barclays Locations: U.S

☆ Oracle bumps up fiscal 2026 revenue forecast, lifting stock 6%
▼ + stars: | 2024-09-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Oracle shares rose about 6% in extended trading on Thursday after the database software maker raised its fiscal 2026 revenue guidance and issued a heady forecast for the 2029 fiscal year. At an analyst meeting coinciding with the Oracle CloudWorld conference in Las Vegas, the company said it now sees at least $66 billion in fiscal 2026 revenue. She pointed to partnerships that will allow companies to use Oracle database software through top-tier cloud providers Amazon , Google and Microsoft . The company's cloud infrastructure revenue grew 45% in the most recent quarter, a quicker pace than at Amazon, Google or Microsoft. As Oracle plans to expand revenue, Catz said she expects capital expenditures to double in the current 2025 fiscal year.

Persons: Safra Catz, LSEG, Catz, Alex Zukin Organizations: Oracle Corp, New York Stock Exchange, Oracle, Google, Microsoft, Nvidia Locations: New York, Las Vegas

☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Roku, Meta, Oracle, Broadcom, Micron & more
▼ + stars: | 2024-09-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Wells Fargo initiates Blackrock as overweight Wells Fargo said the asset manager is well positioned. " Bernstein reiterates Nvidia & Broadcom as top ideas Bernstein said both stocks remain top picks at the firm and that margin fears are overdone. Bernstein reiterates Oracle as a top idea Bernstein said it sees "increasing revenue growth" for Oracle. " Morgan Stanley reiterates Amazon, Alphabet and Meta as overweight Morgan Stanley said the three internet giant's are well positioned in the ad market. Morgan Stanley reiterates Apple as overweight Morgan Stanley named Apple to its Vintage Values list as a stock to own for the next 12 months.

Persons: Wells, Wells Fargo, Stephens, Bernstein, Blackwell, Morgan Stanley, Goldman Sachs, Goldman, Jefferies, McDonald's, it's, Wolfe, Apple, Raymond James Organizations: Simon Property Group, SPG, Blackstone, Apollo, TPG, SF, APO, Blackrock, Nvidia, Broadcom, Oracle, Bank of America, Diageo, of America, Barclays, TAM, CTV, FedEx, UBS, Costco, " Bank of America, Apple, Micron

☆ Stocks making the biggest moves midday: Kroger, Petco, Moderna, Roku and more
▼ + stars: | 2024-09-12 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

That builds on Wednesday's post-earnings rally of nearly 33%, which marked the stock's best day on record. Moderna — The stock plummeted nearly 16% after the drugmaker said it will cut $1.1 billion in expenses by 2027. Interpublic Group of Companies — The advertising stock was trading 2% lower following a downgrade from UBS to sell from neutral. U.S. Bancorp — The bank stock slipped nearly 2% despite announcing a dividend hike and a $5 billion share buyback plan. Oracle – Shares of the software company rose nearly 2% after Bernstein named it a top investment idea .

Persons: Kroger –, Kroger, Moderna, Adam Berlin, Bernstein, Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kailai Han, Sarah Min Organizations: Kroger, Moderna, Gilead Sciences, Alaska Air Group, Interpublic, Companies, UBS, Amazon, Pfizer, Bancorp, Diageo, Bank of America, Wolfe Research, Oracle – Locations: Gilead, Alaska, U.S

The bank raised its price target on MercadoLibre Thursday to $2,500 from $2,225, suggesting 22% upside from Wednesday's close. The bank increased its price target to $230 from $200, implying nearly 16% upside from Wednesday's close. Supino also lifted the firm's price target to $93 a share, reflecting about 33% upside from Wednesday's close. Analyst Adam Berlin lowered his 12-month price target to $29 from $34, implying 6% downside. The investment firm's price target of $159 implies more than 2% downside from Wednesday's close.

Persons: Robert Ford Aguilar, — Michelle Fox, Wells, Wells Fargo, Eric Luebchow, Luebchow, Lisa Kailai Han, Sean Conlon, Wolfe, Peter Supino, Supino, Samantha Subin, BofA, George Staphos, a.m, Adam Berlin, Berlin, IPG, — Sean Conlon, Bernstein, Mark Moerdler, — Lisa Kailai Han, Stifel, Simon Yarmak, Andrea Pistacchi, Brandt Montour, it's, Montour, Fred Imbert Organizations: CNBC, Barclays, Bank of America, Diageo, Mercado, Mobile, Sprint, Wolfe Research, UBS downgrades, UBS, billings, GM, Pfizer, Oracle, Simon Property, Property Group, SPG, U.S, New York Stock Exchange Locations: Brazil, Mercado Pago, Wells Fargo, Wells, Roku, Berlin, America, U.S

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Spotify, Arm, Robinhood, Alphabet, Shopify, Disney & more
▼ + stars: | 2024-09-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Goldman Sachs downgrades Morgan Stanley to neutral from buy Goldman said it sees better value elsewhere than Morgan Stanley. Goldman Sachs upgrades Evercore to buy from neutral Goldman said the investment banking firm is "best in class." JPMorgan reiterates Nvidia as overweight JPMorgan said stocks such as Nvidia are "strong beneficiaries in the emerging AI arms race." Morgan Stanley reiterates Arm as a top pick Morgan Stanley said it's sticking with its overweight rating on the semiconductor chip company. Bank of America reiterates Apple as buy Bank of America said it's standing by its buy rating on shares of Apple.

Persons: Goldman Sachs downgrades Morgan Stanley, Goldman, Morgan Stanley, Goldman Sachs, Rosenblatt, Canaan, Jefferies, Williams, Guggenheim, it's, orals, it's bullish, Bernstein, Robinhood, Wells, Shopify, Truist, Wolfe Organizations: NASDAQ, JPMorgan, Viking Therapeutics, Citi, Apollo Global Citi, APO, U.S, " Bank of America, Novartis, Bank of America, Nvidia, Apple, Spotify, Disney, AES, ~$ Locations: Canaan, Williams, Sonoma, 2030E

☆ Trading the election: Watch these pro-Harris stocks as her odds rise following the debate
▼ + stars: | 2024-09-11 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Investors and Wall Street analysts may want to take a closer look at stocks that could be winners under a President Kamala Harris after Tuesday night's debate . National polls showed a tight race heading into the debate, but some now believe Harris could get a bump from her performance. "We expect a near-term bounce towards Vice President Harris following the first debate with former President Trump, but the longer-term impact remains unclear," Raymond James Washington analyst Ed Mills said in a note to clients late Tuesday night. Wolfe Research has a similar list of stocks in an anti-Trump trade basket, including health care stocks like Centene and HCA . Of course, it could be difficult for new Democratic policies to become law even with a Harris win in November, depending on how Congressional races shake out.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Raymond James Washington, Ed Mills, Isaac Boltansky, Daniel Clifton, Strategas, Wolfe, — CNBC's Michael Bloom Organizations: Wall Street, Democrat, Walmart, Raytheon Technologies, Wolfe Research, Trump, UBS, Republicans, Democrats, Eaton Corp, Waste Management Locations: Democratic, Ukraine, Russia

☆ Harris won the presidential debate, says Wolfe Research's Tobin Marcus
▼ + stars: | 2024-09-11 | 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 EmailHarris won the presidential debate, says Wolfe Research's Tobin MarcusTobin Marcus, Wolfe Research head of U.S, policy and politics, joins 'Squawk Box' to discuss how Marcus would summarize Tuesday's presidential debate, the failures from the debate, and more.

Persons: Harris, Wolfe Research's Tobin Marcus Tobin Marcus, Wolfe, Marcus Organizations: Wolfe Research

☆ Why a Disney vacation may have gotten too pricey for the average American family
▼ + stars: | 2024-09-10 | by ( Devan Burris | ) www.cnbc.com time to read: +3 min

However, inflation-weary consumers might be taking their money elsewhere when it comes to theme parks. In its 2024 third-quarter results, Disney blamed a "softening consumer environment" for sliding demand in its theme parks. A one-day, single-park ticket for Walt Disney World has climbed on average 5% per year over the past 10 years. On the other hand, the price of Disney World and Disneyland's cheapest ticket has remained steady since 2019. A Disney World one-day, one-park, off-peak ticket will cost a park-goer $109, and its equivalent at Disneyland is $104.

Persons: Disney, Walt, Ken Potrock, Peter Supino Organizations: Walt Disney, Universal Studios, Comcast, Disneyland Resort, Disney, Wolfe Research, Magic, CNBC Locations: U.S

Flooding rainfall, powerful winds and potentially life-threatening storm surge could pummel parts of the upper Texas and Louisiana coastlines as Francine passes through. In addition to a hurricane warning in Louisiana, tropical storm warnings and watches have been issued along a stretch of the Louisiana and Texas coast. A storm surge warning has also been issued from High Island, Texas, to the mouth of the Mississippi River. Storm surge and rough surf could also cause minor flooding on the Mexico coast early this week. Storm surge will begin to ramp up as Francine nears landfall, causing normally dry areas to be inundated with several feet of water.

Persons: Francine, Louisiana’s, It’s, Jeff Landry, Louisiana’s Cameron Parish, Ida, Francis, “ Francine Organizations: CNN, National Hurricane Center, Louisiana and, Gov, Federal Emergency Management Agency Locations: Gulf, Louisiana, Texas, Mexico, Mississippi, Louisiana and Texas, High Island , Texas, Louisiana’s Cameron, Jefferson Parish’s, Grand Isle, St, Mary, Terrebonne, Terrebonne Parish, Jefferson, Orleans, New Orleans, In Mississippi, . Texas

☆ Here are Tuesday's biggest analyst calls: Apple, Costco, Nvidia, Palantir, Broadcom, Tesla, Amazon, Meta & more
▼ + stars: | 2024-09-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"We launch coverage of GE Aerospace with an Outperform rating, target price $201." (ELF) with a Buy rating and a 12-month price target of $175 per share." "We initiate with a Buy rating on Harmony , a commercial stage biotech focused on CNS [central nervous system] disorders." "We are initiating coverage of ProKidney Corp. (PROK) with a BUY rating and $6 price target." We are initiating coverage with a BUY rating and $600 price target."

Persons: Morgan Stanley, Apple, Tesla, it's, Bernstein, Riley, Wolfe, Stryker, BUD, JMP, Redburn, BTIG, Palantir, Goldman Sachs, Nutrien, Goldman, Cantor Fitzgerald, Cantor, Melius, Johnson, Guggenheim, it's bullish, D.A, Davidson, Meta Organizations: Apple, Apple Intelligence, Intelligence, Deutsche Bank, Deutsche, GE Aerospace, GE, Inc, Anheuser, Busch InBev, Oracle, Costco, Equity, Haemonetics, Plasma Solutions, Blood Center, Hospital Care Solutions, " Bank of America, Bank of America, UBS, Amazon, Harmony Biosciences, NTR, Nvidia, Broadcom, Johnson, Johnson Controls, ProKidney Corp

☆ Google’s search business was declared to be a monopoly. Now its ad business is on trial
▼ + stars: | 2024-09-09 | by ( Brian Fung | ) edition.cnn.com time to read: +9 min

The long-awaited Google-DOJ showdown focuses on the $31 billion portion of Google’s ad business that matches website publishers with advertisers. “One monopoly is bad enough, but a trifecta of monopolies is what we have here,” said Wood, the DOJ attorney, referring to Google’s publisher ad server business, its advertising exchange AdX, and its advertiser ad network. Authorities have called for that group of businesses within Google — which is distinct from Google’s search or search ads business — to be broken up. Factoring in those other sources of competition drops Google’s share of the ad exchange market from 34% to 17%, said Dunn, Google’s attorney. Still, a breakup of Google’s ad tech business could potentially trigger a shakeup of the digital advertising industry and Google’s role within it.

Persons: —, ” Julia Tarver Wood, Leonie Brinkema, “, ”, Karen Dunn, Google’s, Kamala Harris, Donald Trump, Albert V, Alex Wong, Tim Wolfe, DOJ’s, Wood, ” Wood, Trump, Dunn, Google, Clinton, Brinkema, Neal Mohan, ” It’s Organizations: CNN, Google, US Department of Justice, DOJ, Biden, Blockbuster, Justice Department, Bryan United, Courthouse, The Justice, Gannett, USA, Army, Authorities, Meta, Microsoft, Netflix, Big Tech, Court, Eastern, of, Justice, Comcast, Disney, The New York Times, YouTube Locations: Virginia, Google’s, Alexandria , Virginia, of Virginia

☆ The female 'founder mode' double standard
▼ + stars: | 2024-09-07 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +9 min

From the moment Paul Graham dropped his essay on "founder mode," people online analyzed it like a stone tablet found bearing the new commandment of startupdom. But there's one group that has been privately wrestling with "founder mode" since before it had a meme-able name: female founders. Four female founders told Business Insider that a stark double standard prevents them from operating their startups as their male counterparts do. Bumble founder Whitney Wolfe Herd wrote on Instagram that she was "in founder mode for 10 years and got attacked for it every single day." But unlike female founders, he and Neumann, the WeWork founder, enjoy the luxury of being given second chances by investors.

Persons: Paul Graham, Tobias Lütke, Baron Davis, Jessica Lessin, Tim Cook, Satya Nadella, that's, There's, they'll, Amanda E, J Morrison, Julie Products, Adam Neumann, Sophia Amoruso, it's, Whitney Wolfe Herd, Morrison, We've, they're, Clara Brenner, They're, she's, Julie, Christie Horvath, Wagmo's, Horvath, there's, Anna Barber, Barber, Jenny Fielding, Fielding, Elon, Sara Mauskopf, Slack, Musk, Mauskopf, Neumann, It's, Ty Haney, athleisure —, Haney, Graham's Organizations: Service, Founders, Spotify, Urban Innovation Fund, CVS, M13 Ventures, Ventures, TechCrunch

☆ Beware of a bitcoin backslide to $50,000 as it enters historically worst month of the year
▼ + stars: | 2024-09-02 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Bitcoin slid 10.25% for its worst month since April, while ether dropped 23.66% in its third monthly drawdown and worst month since June 2022. "It's not a pretty picture across the crypto landscape at the moment," said Rob Ginsberg, chart analyst at Wolfe Research. "Bitcoin is still stuck in a descending trading range as price gradually deteriorates off the March high. Historically, September is the worst month for bitcoin — and other markets too, like U.S. stocks. Bitcoin has been stuck in a range between $50,000 and $70,000 since April and is likely to stay there for another a month at least.

Persons: Bitcoin, bitcoin, Rob Ginsberg, Ginsberg, bitcoin —, they've, Alex Thorn, Thorn, Trump, Harris, John Todaro, — CNBC's Michael Bloom, Nick Wells Organizations: Wolfe Research, bitcoin, Galaxy, U.S, Needham, Federal Locations: U.S, Germany, Gox

☆ 2 investment areas in AI that people will be 'very bullish' on in the future, according to a VC
▼ + stars: | 2024-08-26 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

Read previewWith the AI arms race underway and a host of industries investing in the technology, Lux Capital venture capitalist Josh Wolfe identified the areas he's particularly keen on. AI in biology"AI into biology is really interesting because most computer scientists underappreciate how hard biology is," he said. "Biology is really complex — it is not linear, it is not 'programmable biology' the way many people think." AI in roboticsWhile "robots" typically invoke images of futuristic humanoid tech like Elon Musk's Optimus, Wolfe said he thinks "humanoid robots are not going to be the way." Although Wolfe thinks humanoid robots will attract money for their intrigue, he said that robots mimicking human capabilities are "really inferior to what robots can do."

Persons: —, Josh Wolfe, Logan Bartlett, Wolfe, Meta, Nat Friedman, Daniel Gross, ESM3, Elon, Optimus Organizations: Service, Lux Capital, Business, Meta, Amazon Web Services, AWS

☆ Here are Wolfe's favorite stocks as market approaches fresh record
▼ + stars: | 2024-08-23 | by ( Pia Singh | In | ) www.cnbc.com time to read: +3 min

According to Wolfe, Expedia has returned just 3% over the last twelve months and an estimated 2024 price-to-earnings ratio of 10. The online travel agency is rated overweight by analysts polled by FactSet, who have a consensus price target implying 11% potential upside. Walgreens is another long-term favorite that popped up on Wolfe's screens. The stock has 25.3 % potential upside, according to analysts' consensus price target of $12.57, according to FactSet. Other stocks that made Wolfe's "Greatest Hits List" included coffee chain Starbucks , automaker General Motors and medical device maker Medtronic .

Persons: Wolfe, Jerome Powell, Chris Senyek, Expedia, FactSet, Bernstein, Richard Clarke, Clarke, Edgar Bronfman Jr, Bronfman's Organizations: Wolfe Research, Federal, Dow, Nasdaq, Walgreens Boots, Walgreens, Amazon, Paramount Global, Skydance Media, National Amusements, Paramount, General Motors Locations: Deerfield , Illinois

☆ Top VC explains why he thinks the sky-high valuations of AI companies aren't justified, predicts 'a lot of destruction'
▼ + stars: | 2024-08-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +1 min

Josh Wolfe of Lux Capital questions the long-term value of artificial intelligence investments. Wolfe highlights a gap between AI companies' revenue and the economic value needed for returns. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Lux Capital venture capitalist Josh Wolfe appeared on "The Logan Bartlett Show" to talk about investing and the future of AI.

Persons: Josh Wolfe, Wolfe, —, Logan Bartlett Organizations: Lux Capital, Service, Big Tech, Business

☆ Tropical Storm Ernesto nears hurricane strength as it skirts Puerto Rico, bringing concerns of floods and power outages
▼ + stars: | 2024-08-14 | by ( Elizabeth Wolfe | Robert Shackelford | ) edition.cnn.com time to read: +5 min

Its center was about 40 miles north of San Juan early Wednesday after passing over the Virgin Islands on Tuesday. Hurricane watches and tropical storm warnings are in effect for the Virgin Islands and the small Puerto Rican islands of Vieques and Culebra. And he entire island of Puerto Rico is also under a tropical storm warning. Tourists sit on La Pared beach as Tropical Storm Ernesto whips up surf near Luquillo, Puerto Rico, on Tuesday. “The people of Puerto Rico and the US Virgin Islands are no strangers to storms,” Rothenburg said.

Persons: Ernesto, Puerto Rico –, Thomas, John, Pedro Pierluisi, Hurricane Maria, Alejandro Granadillo, Juan Saca, Saca, Jaclyn Rothenberg, ” Rothenburg, “, ” Rothenberg, Mary Gilbert, CNN’s Ella Nilsen Organizations: CNN, Atlantic, National Hurricane Center, San Juan, Virgin, Puerto Rico, Virgin Islands, US, National Weather Service, Puerto Rico Gov, National Guard, Puerto Ricans, AP LUMA Energy, Federal Emergency Management Agency Locations: Puerto Rico, San, Puerto, Caribbean, Puerto Rican, Vieques, Culebra, St . Croix, St, Luquillo , Puerto Rico, Virgin, Bermuda, It’s, Hispaniola, Bahamas, US East Coast

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