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☆ Kantrowitz: Tech will likely see a pullback due to high multiples and valuations
▼ + stars: | 2023-06-27 | 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 EmailKantrowitz: Tech will likely see a pullback due to high multiples and valuationsAlex Kantrowitz, Big Technology Founder, discusses his expectations for the tech sector in the second half of the year.

Persons: Alex Kantrowitz Organizations: Tech, Big Technology

☆ Stocks making the biggest moves midday: Lordstown Motors, Walgreens Boots Alliance, Delta and more
▼ + stars: | 2023-06-27 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Walgreens also reported adjusted earnings per share for its fiscal third quarter of $1, missing a Refinitiv forecast of $1.07. Roblox — The gaming platform popped 5.8% after Bank of America reiterated its buy rating, saying the stock is a leader in the Metaverse category. Meta Platforms — The big technology stock added 2% after Citi reiterated its buy rating. Frontier Communications — Shares rose 4.1% on the back of Wolfe Research initiating coverage of the stock at outperform. Saia — The transportation stock rose 6.7% on the back of Evercore ISI upgrade to outperform from in line.

Persons: Steve Burns, Lordstown, Generac, Aaron Jadgfeld, Kellogg — Kellogg, Goldman Sachs, Oppenheimer, Wolfe, Wells, Wells Fargo, Saia, Northcoast, Cars.com, Jesse Pound, Michelle Fox Organizations: Lordstown Motors Corp, Lordstown Motors, Walgreens, Delta Air Lines, Equity Investment, Bloomberg News, Investment, Royal, Bank of America, Citi, Nike, Frontier Communications, Wolfe Research, Energy, JPMorgan, Unity Software, ISI Locations: Lordstown , Ohio, U.S, Brookfield, Royal Caribbean, Texas

☆ Microsoft pushing Google to be defensive could lead to revenue slowdown, says Big Tech's Kantrowitz
▼ + stars: | 2023-06-27 | 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 EmailMicrosoft pushing Google to be defensive could lead to revenue slowdown, says Big Tech's KantrowitzCNBC's Steve Kovach and Alex Kantrowitz, Big Technology founder, join 'Power Lunch' to discuss the tech rundown, including UBS' downgrade of Alphabet's stock.

Persons: Steve Kovach, Alex Kantrowitz Organizations: Microsoft, Google, Big Technology, UBS

☆ Watch CNBC’s full interview with Big Technology's Alex Kantrowitz
▼ + stars: | 2023-06-27 | 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 EmailWatch CNBC’s full interview with Big Technology's Alex KantrowitzCNBC's Steve Kovach and Alex Kantrowitz, Big Technology founder, join 'Power Lunch' to discuss the tech rundown, including UBS' downgrade of Alphabet's stock.

Persons: Big, Alex Kantrowitz, Steve Kovach Organizations: Big Technology, UBS

☆ Deal for Formula 1 Team Reflects Growing U.S. Interest in the Sport
▼ + stars: | 2023-06-26 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

They are buying a 24 percent stake in Alpine F1 Team owned by Renault Group. The investors are paying about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million. Formula 1 has jumped in popularity in the United States since its sale to Liberty Media in 2017. For Renault, the Alpine deal is aimed at raising the visibility of its Alpine electric vehicle line, as it pushes to have more than half its sales in E.V.s by 2030. In a news release, Renault’s chief executive, Luca de Meo, said the deal would increase the value of the Alpine F1 brand.

Persons: Ryan Reynolds, ”, Luca de Meo Organizations: RedBird Capital Partners, Otro, Alpine F1 Team, Renault Group, Liberty Media, Netflix, Renault, Alpine Locations: United States, Las Vegas, Miami, E.V.s

☆ Stock Market Today: Dow, S&P 500 Slip with Powell Speech, Bank of England in Focus
▼ + stars: | 2023-06-22 | by ( ) www.wsj.com time to read: +1 min

U.S. stocks moved between small gains and losses around midday, with global central banks in focus. Federal Reserve chairman Jerome Powell is delivering a second day of testimony before Congress on Thursday. Doubts over how high the Fed will ultimately raise rates have helped lift stocks in the U.S. this year. The Dow industrials were in the red, while the Nasdaq Composite and S&P 500 ticked higher. Government bond yields were higher.

Persons: Jerome Powell, Powell, Stocks, Dow industrials, Bitcoin Organizations: Federal, Nasdaq, Amazon.com, Federal Trade Commission, Amazon Prime, Microsoft, Apple, Nvidia, Treasury, Bank of England's Locations: U.S, Government, Europe

☆ Ocado shares jump more than 40% on speculation of Amazon takeover
▼ + stars: | 2023-06-22 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Shares of Ocado Group soared more than 40% Thursday after The Times newspaper published "speculation of bid interest from more than one American suitor." Shares of British online grocer Ocado Group soared more than 40% Thursday after The Times newspaper reported "speculation of bid interest from more than one American suitor." The report suggests that big technology players could be weighing up their options with regards to Ocado and picks out Amazon as a potentially interested party. Shares of Ocado jumped as much as 43% on the news, before paring gains. In February, the company reported a pre-tax loss of £501 million ($652 million) for the year to November 2022, which was worse than analyst expectations.

Persons: Ocado, Spencer Organizations: Ocado, The Times, CNBC, London Stock Exchange, FTSE Russell Locations: London, Ocado, Hatfield

☆ EU countries back draft media rules, publishers want easier merger provisions
▼ + stars: | 2023-06-21 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, June 21 (Reuters) - EU countries on Wednesday agreed to draft media rules aimed at safeguarding editorial independence, prompting publishers to complain that governments did not do enough to boost consolidation so media companies could compete with Big Tech. EU countries and EU lawmakers are due to negotiate the act with the commission in the coming months before it can become final legislation. EU countries met on Wednesday to agree a common position. Trade body News Media Europe criticised this stand, saying it did not facilitate mergers and acquisitions that would help media outlets compete against big technology companies. "We see dangerous loopholes that refer to national security, which can put journalists and their sources at risk," the EBU said in a statement.

Persons: –, Foo Yun Chee, Cynthia Osterman Organizations: Big Tech, European Commission, Media, European Broadcasting Union, EU, News Media Europe, Thomson Locations: BRUSSELS

☆ AI’s regulation naysayers protest too much
▼ + stars: | 2023-06-21 | by ( Karen Kwok | ) www.reuters.com time to read: +7 min

As venture capitalist Marc Andreessen notes, AI models are made up of codes and algorithms just like other computer programmes. Moreover, AI models’ ability to extrapolate from data at high speed explains why almost every industry is deploying the technology in the hope of boosting productivity. Precisely because AI models can replicate tasks done by humans, it’s harder to spot which is which. The EU’s proposed law advocates placing AI applications into four different buckets. AI systems that could be used to influence voters and the outcome of elections and systems used by social media platforms with over 45 million users are labeled “high-risk”.

Persons: Sam Altman, Marc Andreessen, Joe Biden, Altman, ChatGPT, “, ”, Peter Thal Larsen, George Hay, Katrina Hamlin Organizations: Reuters, Organisation for Economic Co, OECD, Microsoft, Watchdogs, Facebook, Meta, Twitter, Union, Bloomberg, Thomson Locations: EU, China, Canada, India, United Kingdom, United States, Brussels, Paris, Europe

☆ This compact fund beats the market and provides a downside cushion in tough times
▼ + stars: | 2023-06-18 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

While now considered compact with 40 holdings, portfolio manager Andrew Choi said it has become known for its cushion when the market hits a bad patch. " The fund has returned 10.9% annually since its inception, compared with a 9.9% year gain over the same period for the broad S & P 500. PRBLX .SPX YTD mountain The fund vs. the S & P 500 'Dancing in the right places' The fund was created in 1992, about eight years after the firm itself began. He said the fund finds stocks that can provide downside cushion by looking at moats and management teams. Rolling returns over the past five years show the fund outperforming the S & P 500 and Russell 1000 about 60% of the time.

Persons: Andrew Choi, Choi, Morningstar, Todd Ahlsten, Ahlsten, Warren Buffett, Biden's, they're, Salesforce, Charles Schwab, Apple, Big, Stephen Welch, it's, Russell, sharpe, Welch Organizations: Equity Fund, firm's CIO, GOP, Semiconductor, Devices, Nvidia, Bank of America, Microsoft, Apple, Deere, Linde, Procter, Gamble, Adobe, Mastercard Locations: downturns

☆ As the DOJ digs in, Adobe's top lawyer tells employees to be careful talking about the $20 billion Figma acquisition, and asks them not to delete anything related to the deal
▼ + stars: | 2023-06-12 | by ( Eugene Kim | ) www.businessinsider.com time to read: +7 min

Adobe's Dana Rao told employees to be careful when discussing the proposed Figma acquisition. Adobe's top lawyer told employees in an internal email to be extra careful when talking about the company's $20 billion proposed Figma acquisition, as antitrust scrutiny of the deal intensifies. In the his Adobe email, Rao said it's normal for a deal of Figma's size to go through lengthy regulatory reviews. During a March earnings call with analysts, Adobe's CEO Shantanu Narayen shared a similar end-of-year closing date for the Figma deal. In his email this month, Rao added 3 reasons why the company thinks Figma would be a good acquisition for Adobe.

Persons: Adobe's Dana Rao, Dana Rao, Department's, Rao, Shantanu Narayen, Narayen, Adobe's, Andrew Savage, Savage, Slack, Figma, Dana, Eugene Kim Organizations: Adobe, DOJ, European, SEC, CNBC, Federal Trade Commission, Activision Blizzard, Adobe Express, Department of Justice, Markets Authority, General, Competition Locations: ideation, Europe

☆ Stock Market Today: S&P 500 Closes in Bull Market as Tech Stocks Lift Indexes
▼ + stars: | 2023-06-08 | by ( ) www.wsj.com time to read: +1 min

U.S. stocks rose, with the S&P entering a new bull market , as shares of big technology and consumer-discretionary companies led Thursday's rally. Major indexes have powered higher over the past few months, in large part due to a handful of megacap technology companies posting outsized gains. Many of the S&P 500 stocks up the most this year rose further Thursday. The S&P 500 added 0.6%, just above the level it needed to close at to mark the start of a bull market. Hong Kong’s Hang Seng rose 0.3% and Japan’s Nikkei 225 retreated 0.9%.

Persons: Tesla Organizations: Nvidia, Bureau of Labor Statistics, Federal Reserve, Nasdaq, Dow, GameStop, Treasury, Nikkei Locations: Iran, Islamic Republic, Europe

☆ It’s official. We’re in a bull market
▼ + stars: | 2023-06-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

The S&P 500 rallied Thursday to end the day in a bull market, marking a 20% surge since its most recent low, reached on October 12, 2022. Buoyed by gains in big technology stocks, the broad-based index closed at 4,293.93 and crossed the threshold that separates a bear market from a bull market — that’s investor-speak for a period of time marked by rising stock prices and optimism on Wall Street. “The key difference for us is that you tend to see bull markets coincide with economic expansions, not economic contractions.”Still, since the last bull market, we’ve had a war in Europe, a banking crisis and a debt crisis among other dramas. The duck marketThe current situation is a bit more nuanced than the bull market-bear market binary, said Kevin Gordon, senior investment strategist at Schwab. “Such narrowness is not what new bull markets are built on.”The bottom line: Investors should “avoid getting sucked into this as a new bull market,” said Samana.

Persons: bullish, ChatGPT, “ We’re, ” Sameer Samana, we’ve, ”, Kevin Gordon, Schwab, Lisa Shalett, they’ve, Sam Stovall, “ Organizations: New, New York CNN, Investors, Big Tech, Google, Apple, Nvidia, Federal, Wells, Wells Fargo Investment Institute, CNN, Tech, US, Morgan Stanley Wealth Management, Fed Locations: New York, Silicon Valley, Wells Fargo, Europe, Samana

☆ Kantrowitz: Apple's Vision Pro will also help sales for Meta's Quest headsets
▼ + stars: | 2023-06-06 | 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 EmailKantrowitz: Apple's Vision Pro will also help sales for Meta's Quest headsetsAlex Kantrowitz, Big Technology Founder, discusses Apple's Vision Pro launch and its impact on the AI and tech sector.

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

The pan-European STOXX 600 index (.STOXX) ended 0.4% lower after a survey showed the U.S. services sector barely grew in May, while factory orders rose less than expected. "There's a bit of profit taking after some of the moves we've had recently," said Steve Sosnick, chief strategist at Interactive Brokers. "The economic reports that we've gotten around the world (signal) a somewhat slowing economy." Shares of Indivior Plc (INDV.L) jumped 7.8% to top the STOXX 600 index after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Sherry Jacob-Phillips, Dhanya Ann Thoppil and Richard ChangOur Standards: The Thomson Reuters Trust Principles.

Persons: we've, Steve Sosnick, Christine Lagarde, Joachim Nagel, Shreyashi Sanyal, Sherry Jacob, Phillips, Dhanya Ann Thoppil, Richard Chang Organizations: PMI, Interactive, U.S . Federal, European Central Bank, Amazon.com Inc, Indivior Plc, Trendyol, Viaplay, Volvo, Copenhagen Stock Exchange, Thomson Locations: U.S, Alibaba, Swedish, Sweden, Bengaluru

☆ Nvidia shares are on a tear this year. Why Wall Street is bracing for a near-term pullback
▼ + stars: | 2023-05-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Nvidia shares are on a tear this year as the chipmaker asserts it dominance and cements itself as the one to beat in the AI arms race. NVDA YTD mountain Nvidia shares in 2023 Wall Street analysts and investors remain confident in the long-term trajectory of the stock, but say its latest jaw-dropping surge sets Nvidia up for a short-term pullback. Overbought conditions and a short-term pullback Despite Nvidia's jaw-dropping print, most near-term momentum indicators show the stock is overbought. Even so, Wald suggests investors consider buying on any pullback and using market dips to sell relatively weaker positions and buy Nvidia. Consolidation in megacaps Nvidia isn't the only big technology giant Wall Street's cooling on at least in the near-term.

Persons: Paul Meeks, Ari Wald, Oppenheimer, Wald, Janney Montgomery Scott, Dan Wantrobski, Katie Stockton, tailwinds, Price, Microsoft's, Meeks, Michael Bloom Organizations: Nvidia, Independent Solutions Wealth Management, Street, Amazon, Microsoft, Apple Locations: Tuesday's

☆ Hightower’s Stephanie Link names sectors outside of tech that will benefit from the A.I. tailwind
▼ + stars: | 2023-05-18 | 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 EmailHightower’s Stephanie Link names sectors outside of tech that will benefit from the A.I. tailwindHightower’s Stephanie Link, Big Technology's Alex Kantrowitz and Virtus’ Joe Terranova, join 'Closing Bell' to discuss companies vying for a piece of the A.I.

☆ Here's why sodium-ion batteries are shaping up to be a big technology breakthrough
▼ + stars: | 2023-05-10 | by ( Magdalena Petrova | ) www.cnbc.com time to read: +2 min

Sodium-ion batteries have been around for decades, but large-scale development of the technology was abandoned in favor of lithium-ion batteries. Sodium-ion batteries can't provide the type of range for electric vehicles offered by lithium-ion batteries, but they do present some unique advantages. For instance, the materials used in sodium-ion batteries tend to be cheaper than those in lithium-ion batteries. "There's no cobalt, there's no copper, there's no lithium, there's no graphite, which is really primarily controlled by China today." Natron Energy, based in Silicon Valley, is also working to commercialize sodium-ion battery technology.

☆ Investors looking toward Google I/O 2023 for resurgence of Google's A.I. vision
▼ + stars: | 2023-05-10 | 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 EmailInvestors looking toward Google I/O 2023 for resurgence of Google's A.I. visionAlex Kantrowitz, Big Technology founder, joins 'The Exchange' to discuss Google CEO Sundar Pichai's keynote address at Google I/O 2023, changing consumer behavior with A.I., and the evolution of Google's Bard product.

☆ Google will label fake images created with its A.I.
▼ + stars: | 2023-05-10 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Google will embed information called a markup inside images created by its AI models, in order to warn people that they were originally created by a computer, it said on Wednesday. "Image self-labeled as AI generated," reads one example warning provided by Google. One issue facing the AI industry is that there is no reliable way to determine generated images. Google's approach is to label the images when they come out of the AI system, instead of trying to determine whether they're real later on. Google held its annual developer's conference on Wednesday, where it announced a $1,799 folding phone, and additional AI features for other Google products, including an image generator.

☆ Kantrowitz: We're in a spot where the tech giants shouldn't necessarily be leading the markets
▼ + stars: | 2023-05-01 | 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 EmailKantrowitz: We're in a spot where the tech giants shouldn't necessarily be leading the marketsBig Technology founder Alex Kantrowitz discusses the overall strength of earnings from the mega-cap tech names, and how that's playing into the performance of the broader market this year.

The main U.S. indexes ended up sharply on Thursday, with the benchmark S&P 500 (.SPX) logging its biggest one-day percentage gain since early January. Analysts expect first-quarter earnings for S&P 500 companies to fall 2.4% year-over-year compared with a forecast for a 5.1% fall at the start of April. ET, Dow e-minis were down 115 points, or 0.34%, S&P 500 e-minis were down 10 points, or 0.24%, and Nasdaq 100 e-minis were down 14.75 points, or 0.11%. Chipmaker Intel Corp (INTC.O) gained 6.5% after it said gross margins will improve in the second half of the year. Colgate-Palmolive Co (CL.N) inched up 0.7% after the toothpaste maker lifted its annual organic sales forecast betting on consistent price hikes.

REUTERS/Brendan McDermidSummarySummary Companies Amazon down after signaling slower AWS growthPinterest, Snap fall on downbeat forecastsIntel gains on upbeat view on marginsMarch PCE index due at 8:30 a.m. ETFutures down: Dow 0.37%, S&P 0.37%, Nasdaq 0.28%April 28 (Reuters) - U.S. stock index futures dipped on Friday as Amazon's warning about a slowdown in its cloud business and downbeat forecasts from Snap and Pinterest dented Wall Street sentiment, while investors awaited a key inflation report later in the day. The main U.S. indexes ended up sharply on Thursday, with the benchmark S&P 500 (.SPX) logging its biggest one-day percentage gain since early January. Analysts expect first-quarter earnings for S&P 500 companies to fall 2.4% year-over-year compared with a forecast for a 5.1% fall at the start of April. ET, Dow e-minis were down 127 points, or 0.37%, S&P 500 e-minis were down 15.25 points, or 0.37%, and Nasdaq 100 e-minis were down 37.25 points, or 0.28%.

☆ Futures dip as Amazon warns of slowdown in cloud segment
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +3 min

Amazon.com Inc (AMZN.O) shares slipped 1.1% in premarket trading as the company signaled its cloud growth would slow further, overshadowing its better-than-expected quarterly results. The weak updates followed stronger-than-expected earnings from big technology and growth companies this week including Alphabet Inc (GOOGL.O), Microsoft Corp (MSFT.O) and Meta Platforms Inc (META.O) which led analysts to improve first-quarter profit estimates for S&P 500 companies. The main U.S. indexes ended up sharply on Thursday, with the benchmark S&P 500 (.SPX) logging its biggest one-day percentage gain since early January. Analysts expect first-quarter earnings for S&P 500 companies to fall 2.4% year-over-year compared with a forecast for a 5.1% fall at the start of April. ET, Dow e-minis were down 105 points, or 0.31%, S&P 500 e-minis were down 16 points, or 0.39%, and Nasdaq 100 e-minis were down 48.75 points, or 0.37%.

☆ Korea’s Stock Market Shines Even as Economy Dims
▼ + stars: | 2023-04-26 | by ( Frances Yoon | ) www.wsj.com time to read: 1 min

Inside a dealing room at Hana Bank in Seoul on April 25. Photo: yonhap/ShutterstockShould a slowing economy lead to a weak stock market? Not judging by the performance of South Korea’s benchmark index this year. The country’s stock market is the best performer in Asia and one of the top indexes in the world so far this year. The Kospi Composite Index has risen more than 11% since Jan. 1, fueled by a rally in the shares of big technology companies like Samsung Electronics Co. and SK Hynix Inc., which together account for a fifth of the index.

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