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☆ Highmark Health says it's combining tech from Google and Epic to give doctors easier access to information
▼ + stars: | 2024-02-26 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +4 min

Highmark Health announced Monday that it's integrating technology from Google Cloud and the health-care software company Epic Systems to try to improve data gathering for providers and payers. Highmark, headquartered in Pittsburgh, is the parent company of a health plan with 7 million members, a provider network of 14 hospitals and several other entities. "Doctors don't need help once they have information; the problem is they don't have it," Farah told CNBC in an interview. Highmark said its new integration will also help it aggregate clinical data from its hospitals that representatives from its health plan need to access. The technology can automatically notify the health plan about upcoming patient visits, for instance.

Persons: Highmark, Dr, Tony Farah, Farah, Richard Clarke, Clarke, Amy Waldron, It's Organizations: Highmark Health, Google, Systems, Consumer, Microsoft, Amazon Web Services, American Medical Association, Care, Community Health, CNBC, Health Locations: U.S, Pittsburgh

☆ UnitedHealth subsidiary Change Healthcare down for a fourth day following cyberattack
▼ + stars: | 2024-02-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Change Healthcare's systems are down for a fourth straight day after parent company UnitedHealth Group disclosed that a suspected cybersecurity threat actor gained access to part of its information technology network on Wednesday. UnitedHealth, the biggest health-care company in the U.S. by market cap, owns the health-care provider Optum, which merged with Change Healthcare in 2022. Optum services more than 100 million patients in the U.S., according to its website, and Change Healthcare offers solutions for payment and revenue cycle management. ET Saturday, Change Healthcare said the disruption is expected to continue "at least" through the day. The AHA declined to comment on the Change Healthcare cyberattack.

Persons: UnitedHealth, We're, CISA Organizations: UnitedHealth Group, Healthcare, U.S . Securities, Exchange Commission, CNBC, CVS Health, CVS, American Hospital Association, AHA, Department of Health, Human Services, FBI, Infrastructure Security Agency, HHS Locations: U.S

☆ Nvidia briefly surpasses $2 trillion in market cap during intraday trading
▼ + stars: | 2024-02-23 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Jensen Huang speaks onstage during The New York Times Dealbook Summit 2023 at Jazz at Lincoln Center on November 29, 2023 in New York City. Nvidia briefly surpassed $2 trillion in market cap during intraday trading Friday as its stock continues to rally following the company's rosy earnings report Wednesday. Shares of Nvidia rose more than 2% Friday morning after closing up 16% Thursday. Nvidia reported $12.29 billion in net income during the quarter, up a staggering 769% from $1.41 billion last year. Nvidia makes the pricey graphics processors for the servers that power large AI models.

Persons: Jensen Huang Organizations: New York Times, Jazz, Lincoln Center, Nvidia, LSEG Locations: New York City

☆ Nearly all doctors feel burnout, but many are encouraged by potential of AI, survey says
▼ + stars: | 2024-02-21 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

The survey found that excessive administrative tasks such as paperwork are the driving force behind this burnout, with 64% of doctors saying they feel overwhelmed by clerical requirements. Additionally, fewer than 40% of doctors feel confident that their employer is "on solid financial footing." Despite these obstacles, 83% of doctors in the survey said they believed AI could help. While AI is unlikely to solve health-care problems overnight, the survey found that the technology is giving some doctors hope for the future. Around 37% of the AI optimists believe the field is ultimately heading in the right direction, according to the survey.

Persons: Nele Jessel, Athenahealth Organizations: Athenahealth, Physicians, CNBC PRO Locations: U.S

☆ Lyft CEO takes blame for 'extra zero that slipped' into earnings release
▼ + stars: | 2024-02-14 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Lyft CEO David Risher took responsibility for the major error that appeared in the company's fourth-quarter earnings release late Tuesday, telling CNBC's "Squawk Box" that it's "super frustrating" for everyone on the team. It is an extra zero that slipped into a press release." Lyft reported $1.22 billion in revenue for the quarter, an increase of 4% from $1.175 billion a year earlier. In a note titled, "Lyft: We all make mistakes," analysts at MoffettNathanson raised their rating on the shares to neutral from sell. "Typos aside, we too are guilty of a mistake," the analysts wrote, citing their downgrade on the stock in October.

Persons: David Risher, CNBC's, Lyft, Erin Brewer, Risher, we've, Gross, MoffettNathanson, — CNBC's Ari Levy

☆ Here's what Meta CEO Mark Zuckerberg has to say about the Apple Vision Pro
▼ + stars: | 2024-02-14 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Meta CEO Mark Zuckerberg demonstrates an Oculus Rift virtual reality (VR) headset and Oculus Touch controllers during the Oculus Connect 3 event in San Jose, California, U.S., on Thursday, Oct. 6, 2016. Meta CEO Mark Zuckerberg shared his opinion of Apple 's new mixed-reality headset, the Vision Pro, in a video posted to Instagram where he called Meta's Quest 3 headset "the better value" and "the better product, period." While it's obvious Zuckerberg would promote his company's product, his decision to post a video about the differences between the Quest 3 and Vision Pro shows the increasing competition between Apple and Meta. Meta has taken a lower-cost approach while Apple has focused on sharper screens, more powerful processors and higher-end materials. Apple officially launched its Vision Pro in the U.S. on Feb 2.

Persons: Mark Zuckerberg, Zuckerberg, Meta, Tim Cook, CNBC's Jim Cramer Organizations: Apple, Vision, Pro, Meta, Apple Watch, Quest, CNBC PRO Locations: San Jose , California, U.S, New York

☆ Airbnb reports better-than-expected revenue and beats on guidance
▼ + stars: | 2024-02-13 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Airbnb reported better-than-expected revenue for the fourth quarter on Tuesday and issued an optimistic forecast for the current period. Airbnb posted adjusted earnings of $738 million in the fourth quarter. Analysts were expecting $645 million, according to StreetAccount. Airbnb said revenue in the first quarter will be between $2.03 billion and $2.07 billion, while Wall Street was expecting $2.03 billion, according to LSEG. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, came in at $15.5 billion in the fourth quarter.

Persons: Brian Chesky, Airbnb, It's Organizations: Airbnb Inc, Hope, Revenue, Hamas, Asia Locations: Atlanta , Georgia, Israel, America

CVS, which owns health insurer Aetna, on Wednesday slashed its full-year profit outlook, citing the potential for higher medical costs to bite into its profits. Last month, Humana said it saw an even bigger jump in medical costs in the fourth quarter. Higher medical costs may be a larger problem for Humana than they are for CVS and other insurers. They added that there is no other part of Humana's business that could meaningfully dampen the hit from higher medical costs on the insurance side. Another insurance giant that has been seeing higher medical costs, UnitedHealth Group, also has large health-care services and pharmacy operations that diversify its earnings streams.

Persons: Humana Organizations: CVS, Aetna, Medicare, Elevance, Humana, UBS, UnitedHealth

☆ 23andMe considers splitting up company to revive stock price
▼ + stars: | 2024-02-08 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Shares of 23andMe sank 21% on Thursday, a day after the genetic testing company reported dismal fiscal third-quarter results and discussed splitting itself in two to help juice its stock price. 23andMe reported revenue of $45 million for the quarter, down from the $67 million it reported in the same period last year. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company, a deal that valued the company at around $3.5 billion. The company has launched additional therapeutics and research businesses, but its share price has tumbled more than 95% from its peak. They lowered their target price for the stock to 85 cents from 90 cents.

Persons: 23andMe, Anne Wojcicki, Sergey Brin, Forbes, Joe Selsavage, Selsavage Organizations: TechCrunch, 23andMe, Nasdaq, U.S . Securities, Exchange Commission, CNBC Disruptor, Citi, CNBC PRO Locations: San Francisco , California, 23andMe

☆ Uber beats estimates as revenue and bookings see double-digit growth
▼ + stars: | 2024-02-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

Uber reported fourth-quarter results Wednesday that beat analysts' estimates on top and bottom lines. Here's how the company did:Earnings per share: 66 cents vs. 17 cents expected by LSEG, formerly known as Refinitiv. 66 cents vs. 17 cents expected by LSEG, formerly known as Refinitiv. Uber's net income includes a $1 billion net tailwind thanks to "unrealized gains" from revaluations of its equity investments, according to a release. Uber anticipates an adjusted EBITDA of $1.26 billion to $1.34 billion, compared to the $1.26 billion expected by analysts.

Persons: Dara Khosrowshahi, Uber, LSEG, EBITDA, Khosrowshahi Organizations: APEC, Summit, Moscone West, LSEG, StreetAccount, Mobility Locations: San Francisco , California

Still, Eli Lilly and Novo Nordisk appear to be making some encouraging progress. Eli Lilly wasn't the only weight loss drug producer to see positive supply developments in the last week. Novo Holdings, which owns almost 77% of the voting shares in Novo Nordisk, said Monday it will acquire drug manufacturer Catalent in a $16.5 billion deal. Novo Nordisk will then buy three of Catalent's manufacturing plants from Novo Holdings for $11 billion. Tema in November launched an ETF whose key holdings include companies benefiting from the hype around weight loss drugs.

Persons: Eli Lilly, Anat Ashkenazi, Incretin, Eli Lilly's, Ashkenazi, Eli Lilly wasn't, Yuri Khodjamirian, Danish drugmaker Organizations: Novo Nordisk, Holdings, Wegovy, Novo Holdings, CNBC, Tema, Nordisk, Reuters Locations: North Carolina, Novo, Tema, Brussels, Danish, U.S

☆ DocuSign to lay off 6% of workforce, or about 440 jobs
▼ + stars: | 2024-02-06 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

The DocuSign website is seen on a laptop in Dobbs Ferry, New York, April 1, 2021. DocuSign announced Tuesday it will cut 6% of its workforce as part of a restructuring plan that aims to improve the company's "financial and operational efficiency," according to a release. DocuSign employs 7,336 workers according to its most recent filing with the U.S. Securities and Exchange Commission, which means the cuts will affect around 440 jobs. DocuSign said the restructuring plan will be largely complete by the end of its second fiscal quarter of 2025, according to the release. In January, shares of DocuSign soared on reports that Bain Capital and Hellman & Friedman were competing to buy the online signature provider.

Persons: DocuSign, Friedman Organizations: U.S . Securities, Exchange Commission, Bain Capital, Hellman, Reuters Locations: Dobbs Ferry , New York

☆ Palantir shares rocket 25% after revenue beat, strong demand for AI
▼ + stars: | 2024-02-06 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland Januar 22, 2020. Shares of Palantir popped more than 25% Tuesday, a day after the company released fourth-quarter earnings that surpassed analysts' expectations for revenue and showed strong demand for its artificial intelligence offerings. Palantir said it expects to report between $612 million and $616 million in revenue during its first quarter, shy of the $617 million analysts were anticipating. In a letter to shareholders, CEO Alex Karp said demand for large language models in the U.S. "continues to be unrelenting." Analysts at Citi upgraded Palantir shares to neutral from sell and raised their target price from $10 to $20.

Persons: Palantir, Alex Karp, Karp Organizations: Palantir Technologies, U.S ., Wall, AIP, Citi, Government Locations: Davos, Switzerland, U.S

☆ Palantir stock jumps 17% on revenue beat
▼ + stars: | 2024-02-05 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Palantir shares surged more than 17% in after-hours trading after the company reported fourth-quarter earnings that beat analysts' expectations for revenue. Palantir said it expects to report between $612 million and $616 million in revenue during its first quarter, and it guided revenue for the full year between $2.65 billion and $2.67 billion. Wall Street was expecting $617 million during the first quarter and $2.66 billion in revenue for the full year. Palantir, known for its defense and intelligence work with the U.S. government, said its U.S. commercial revenue grew 70% year over year. Last quarter, Palantir reported its fourth-straight quarter of profitability, which means it is now eligible for inclusion in the S&P 500.

Persons: Palantir, Alex Karp, LSEG, Karp Organizations: U.S, Senate, Intelligence, Capitol, Washington , D.C, LSEG, AIP, U.S . Locations: Washington ,, U.S

☆ Zoom is cutting about 150 jobs, or close to 2% of its workforce
▼ + stars: | 2024-02-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Zoom CEO Eric Yuan speaks at the Dropbox Work In Progress Conference in San Francisco on Sept. 25, 2019. Zoom is cutting about 150 jobs, CNBC confirmed on Thursday, the latest tech company to slash headcount this year as investors continue to push for efficiency. A Zoom spokesperson confirmed the cuts amount to less than 2% of the company's workforce. In addition to Zoom, cloud software vendor Okta announced a downsizing on Thursday, telling employees that it's laying off 400 staffers, or about 7% of its workforce. Zoom shares are down about 10% this year and have dropped almost 90% from their record high in October 2020.

Persons: Eric Yuan, Zoom Organizations: Conference, CNBC, Bloomberg, Microsoft, Google, MGM Studios, Okta Locations: San Francisco, layoffs.fyi

☆ Neuralink competitor Synchron to ramp up brain implant production with equity stake in manufacturer
▼ + stars: | 2024-02-01 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Philip O'Keefe, one of Synchron's patients in the SWITCH clinical trial, was the first person in the world to tweet using a BCI device. Synchron announced Thursday that it has acquired a minority equity stake in the German manufacturer Acquandas, which has the unique ability to layer the metals that make up one component of the company's implant. Founded in 2012, Synchron has developed a brain-computer interface, or a BCI, called the Synchron Switch. During initial studies, Synchron has so far implanted six patients in the U.S. and four patients in Australia. Synchron declined to share the specific size of Synchron's stake in Acquandas or the exact number of devices it is producing.

Persons: Philip O'Keefe, Synchron, Tom Oxley, Riki Banerjee, Oxley, Acquandas Organizations: BCI, U.S . Food, Drug Administration, CNBC Locations: U.S, Australia, Acquandas

That's Wall Street's reaction to quarterly results on Tuesday from Alphabet and Microsoft . Both companies reported revenue and earnings that exceeded estimates, yet the stocks sold off in extended trading. Alphabet on Tuesday reported 13% revenue growth, the fastest rate of expansion since early 2022. Revenue at Microsoft increased 18% to $62.02 billion, topping the $61.12 billion average analyst estimate. Both companies also beat expectations in their cloud businesses, with Google Cloud reporting 25% growth and Microsoft's larger Azure and other cloud services expanding by 30%.

Persons: Sundar Pichai Organizations: Americas, U.S . Chamber, Commerce, Microsoft, Apple, Google Locations: Los Angeles , California

Three names in the industry – Johnson & Johnson , Merck and Bristol Myers Squibb – face a pivotal few weeks ahead. They join Bristol Myers Squibb CEO Chris Boerner, who agreed to the panel's initial invitation to appear. But why is the committee targeting Merck, J&J and Bristol Myers Squibb in the first place? J&J, Merck and Bristol Myers Squib are all suing to halt the talks, which will establish new prices that will go into effect in 2026. Bristol Myers Squibb's Opdivo is an immunotherapy used to treat cancers, including melanoma and lung cancer.

Persons: Annika Kim Constantino, – Johnson, Sen, Bernie Sanders, Joaquin Duato, Robert Davis, Chris Boerner, Sanders, Eli Lilly's, Januvia, Bristol Myers, He's, Biden, Merck's, Myers, Eliquis, Mike Perrone, it's Organizations: CNBC.com, Johnson, Merck, Bristol Myers Squibb, Bristol Myers, Medicare, Bristol, CNBC, pharma Locations: U.S, drugmakers

☆ Super Micro shares pop after earnings beat, rosy revenue forecast
▼ + stars: | 2024-01-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Super Micro said revenue for the quarter came in at $3.66 billion, up from the $3.06 billion expected by analysts, according to LSEG (formerly known as Refinitiv). Super Micro reported a net income of $296 million in its second quarter, up from $176 million in the same quarter last year. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including artificial intelligence algorithms. Shares of Super Micro are already up more than 74% year to date, following a 246% jump last year and an 87% pop in 2022. Watch: Super Micro Computer CEO Charles Lang goes one-on-one with Jim Cramer

Persons: Charles Lang, CNBC's Jim Cramer, Jim Cramer Organizations: Micro, NVIDIA, AMD, Intel, Micro Computer

☆ Symptoms from excessive screen time cost the U.S. $73 billion a year, study finds
▼ + stars: | 2024-01-30 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

American workers are spending too much time looking at screens. As a result, symptoms of "excessive screen time," or more than seven hours of screen time a day, are costing the U.S. $73 billion per year, the report said. The figure was determined by analyzing the direct financial costs incurred by health systems, the symptoms' impact on productivity at work, and their perceived impact on an individual's well-being. Just two hours of screen time per day can induce these symptoms, and if left untreated, the study found they can "lead to decreased productivity, exacerbate other undiagnosed eye conditions and may affect an individual's sleep quality and mental health." The study found that people with excessive screen time exposure could save as much as $1,920 per person by seeing an optometrist and managing their symptoms.

Persons: Ronald Benner Organizations: Deloitte Economics Institute, American Optometric Association, U.S Locations: U.S

☆ Elon Musk's Neuralink implants brain tech in human patient for the first time
▼ + stars: | 2024-01-29 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

The company is developing a brain implant that aims to help patients with severe paralysis control external technologies using only neural signals. The in-human clinical trial marks just one step on Neuralink's path toward commercialization. Neuralink did not disclose how many human patients will participate in its initial in-human trial. Paradromics is aiming to launch its first trial with human patients in the first half of this year. Precision Neuroscience carried out its first in-human clinical study last year.

Persons: Elon, Neuralink, Musk, Stephen Hawking, Blackrock Neurotech, Tom Oxley's Organizations: U.S . Food, Drug Administration, FDA, SpaceX, BCI, Neuroscience, Paradromics, Blackrock Locations: U.S

At Meta, in CEO Mark Zuckerberg's words, 2023 was the "year of efficiency," and the stock jumped almost 200% alongside 20,000 job cuts. AI demand is so great that some tech companies are cutting headcount in parts of the business to invest more heavily in developing AI products. Phil Spencer, CEO of Microsoft Gaming, appears at the Political Opening of the Gamescom conference in Cologne, Germany, on Aug. 23, 2023. Within tech, a wide variety of companies, big and small and spanning the consumer and enterprise markets, are eliminating jobs. But, he added, there's an "enormous base" of small and mid-sized tech companies across the U.S., and that in some cases contractors, freelancers and overseas workers are being hit particularly hard.

Persons: Peter Kramer, They've, Mark Zuckerberg's, Zeile, Phil Spencer, Franziska Krug, Sundar Pichai, Bob Carrigan, Nigel Vaz, Publicis Sapient, Salesforce, Meta's, " Vaz, Levi Strauss, Bob Bakish, Tim Herbert, Herbert, there's, Vaz, Michael Bloom, Annie Palmer, Jennifer Elias Organizations: Nasdaq, CNBC, Apple, Meta, Microsoft, Investors, Activision Blizzard, SAP, Microsoft Gaming, Facebook, Citigroup, Paramount, Commerce Department, Gross Locations: Cologne, Germany, U.S

☆ Microsoft crosses $3 trillion in market cap
▼ + stars: | 2024-01-24 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: 1 min

Microsoft CEO Satya Nadella speaks at the CES conference in Las Vegas on Jan. 9, 2024. Microsoft's market cap surpassed $3 trillion in intraday trading Wednesday after the stock climbed more than 1% to $404 per share. The milestone comes two weeks after Microsoft eclipsed Apple as the world's most valuable public company on Jan. 12. Apple has reclaimed the No. 1 spot, and its market cap reached $3.03 trillion on Wednesday.

Persons: Satya Nadella Organizations: CES, Microsoft, Apple Locations: Las Vegas

☆ Apple offers rivals access to mobile payment tech in EU antitrust case
▼ + stars: | 2024-01-19 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Apple has offered to give rivals the ability to access and interoperate with its contactless payment tech in an effort to appease antitrust regulators in Europe. Apple Pay, the company's mobile wallet feature, allows users to make purchases by simply tapping their iPhones, which run on Apple's operating system called iOS. Since Apple controls this operating system exclusively, third-party mobile wallet developers' access to its payment technology has previously been restricted. Apple said it will allow third-party developers to gain access to the mobile payment technology, provide new features for users like defaulting to preferred payment apps and apply "non-discriminatory eligibility criteria" for rival developers. If Apple's commitments assuage European regulators' competition concerns, the Commission will adopt them and legally require Apple to implement the changes.

Persons: Tim Cook, Apple Organizations: Apple, National Committee, China Relations, China Business Council, Economic Cooperation, APEC, European Commission, Economic, CNBC, Department of Justice, Bloomberg, DOJ Locations: Asia, San Francisco , California, Europe, U.S

Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.

Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit

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