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While 2024 marked another "challenging" year for biotech stocks, some names could be slated for upside in the months ahead, according to JPMorgan. That said, biotech stocks specifically have not seen nearly the same level of gains. Wall Street is mostly bullish on Vertex, as 21 of the 35 analysts covering the stock have a strong buy or buy rating. The stock has advanced 13% in 2024, and JPMorgan thinks it is "well positioned" for continued expansion. "We believe the portfolio will see appreciation for several value drivers in 2025," analyst Brian Cheng told clients.
Persons: Jessica Fye, Fye, Tessa Romero, Brian Cheng Organizations: JPMorgan, Dow Jones Industrial, Nasdaq, Vertex Pharmaceuticals, Immune, Edgewise Therapeutics
Turkey wants the F-35s and may be willing to move the Russian air defenses that triggered the ban. Until five years ago, Turkey had planned to buy 100 of Lockheed Martin's F-35 stealth jets to modernize its air force. According to Bloomberg, Turkey may agree to restrict its Russian S-400s air defenses in return for the US lifting sanctions. Advertisement"So, it will remain to be seen if Trump can overcome these institutional hurdles to a sale to Turkey," Bohl told BI. The intervening Ukraine war, where Russian S-400s suffered losses, could reduce the value Turkey sees in them.
Persons: Lockheed Martin's, Trump, Recep Tayyip Erdogan, Donald Trump, Suleyman Ozeren, Ali Bakir, Erdogan, Bakir, Ozeren, Benjamin Cooper, US Air Force Ryan Bohl, RANE, Marco Rubio, Bohl, Mark Esper, Lockheed Martin, Paul Iddon Organizations: Trump, Lockheed, Bloomberg, Russian, American University, Orion Policy Institute, Ibn Khaldon, Security Initiative, US Air Force, East, Washington, Pentagon, Northrop Grumman, BAE Systems, Pratt & Whitney, RTX Corporation, Ukraine, Iran Locations: Turkey, Ankara, Washington, Incirlik, Qatar, Turkish, North Africa, Russia, China, Ukraine, Russian
To counter that, Jim Cramer has said investors should not lose sight of what can go right for their stocks. Smooth chip updates: AMD needs to successfully carry out its annual release cycle for AI chips. That needs to be sustained to justify Meta's heavy spending on AI chips. Nevertheless, correcting this dynamic should translate into faster revenue growth rates. Palo Alto Networks Bigger deals: Cybersecurity is a secular growth market: As the number of bad actors grows, companies can't afford to not invest in defense.
Persons: Jim Cramer, Abbott, Donald Trump, Trump, Joe Biden, Eaton, Eli Lilly, Eli Lilly's GLP, Lilly, Hurricanes Helene, Milton, Elliott Management's, Elliott, Jim, Linde, Morgan Stanley Lower, Morgan, Biden, , Jensen Huang, Palo, Stanley Black, Brian Niccol's, Wells, Jim Cramer's, Timothy A, Clary Organizations: Abbott, Devices, Microsoft, AMD, Nvidia, Justice Department, Services, Trump, Apple, Apple Intelligence, Federal, Bristol Myers Squibb, Bristol Myers, Broadcom, Constellation Brands, Modelo, Costco, U.S, Netflix, Coterra Energy, LNG, DuPont, GE Healthcare, GE, Hurricanes, Honeywell Business, Honeywell, Linde, Meta, Facebook, Federal Reserve, GOP, Nvidia's, Industry, Palo Alto, Decker, Starbucks, Walt Disney Parks, TJX, Jim Cramer's Charitable Trust, CNBC, Traders, New York Stock Exchange, Getty Locations: U.S, BlackRock, Corona, China, Dover, , New York City
Instead of having plasma inside magnets, it has a magnet inside the plasma. An illustration of the inside of Openstar Technologies' "levitated dipole" nuclear fusion reactor. The fusion reactor looks like a steel donut on legs and is housed in a warehouse in Wellington, New Zealand. The billion dollar question is still: when will fusion power be ready? Commonwealth Fusion says it can deliver fusion power to the grid in the early 2030s.
Persons: , Ratu Mataira, it’s, there’s, Akira Hasegawa, ” Mataira, Mataira, ” It’s, Gerald Navratil, ” Navratil, There’s Organizations: CNN, OpenStar Technologies, Fusion Industry Association, Technologies, MIT, Columbia University, Openstar Technologies, Commonwealth Fusion Systems, Energy, Commonwealth Fusion, Zap, UK Atomic Energy Authority Locations: New Zealand’s, Wellington, Wellington , New Zealand, Seattle
Store-brand stuff is having a moment
  + stars: | 2024-11-29 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
AdvertisementShoppers are still buying store brands at the grocery store and beyond to save money. Retailers from Walmart to Amazon Fresh have launched new store brands this year. Shoppers are still reaching for store-brand items to save money on everything from organic milk to business casual clothing — even as inflation slows. AdvertisementCircana said store brands made up 25.5% of grocery items sold in 2023, up from 24.7% the previous year. AdvertisementAldi quality tests 35,000 products a year for its store brands, Patton said.
Persons: John Rainey, Target, Nordstrom, Nordstrom's, Peter Nordstrom, Circana, Scott Patton, Patton Organizations: Private, Retailers, Walmart, Amazon, Shoppers, Unilever, Procter, Gamble, Saver, Nordstrom, Aldi, Aldi USA
Learn moreRight now, Solo Stove is having its biggest sale of the year for Black Friday — up to 50% off all fire pits, pizza ovens, camping stoves, furniture, and other backyard and outdoor gear. The best Black Friday Solo Stove dealsStaff Pick Solo Stove Bonfire 2.0 Fire Pit $229.99 $249.99 Save 8% The Solo Stove Bonfire 2.0 is the best fire pit we've tested because its design facilitates blazing fires with minimal smoke. View at Solo Stove What we like Check mark icon A check mark. Didn't live up to "smokeless" advertisingStaff Pick Solo Stove Mesa Tabletop Fire Pit $39.99 $79.99 Save 50% The Solo Stove Mesa is the best small fire pit we tested. View at Solo StoveBlack Friday Solo Stove FAQsHow does a Solo Stove fire pit work?
Persons: Stove, it's, You'll Organizations: Business, Black, Solo
New single-aisle planes offer cost efficiency, smaller capacity, and flexible cabins. This evolution has been largely propelled by the Airbus A321neo family, smaller planes that can flyer further than previous single-aisle aircraft. In 2024, 39,000 flights between North America and Europe are scheduled on single-aisle planes made by Boeing and Airbus, according to data from Cirium, an aviation analytics company. AdvertisementAirbus is pioneering this narrow-body shiftSuch a focus on single-aisle planes that can tackle long flights has been a boon for Airbus. Plus, single-aisle flying allows for quicker boarding and deplaning, which may be welcome time-savings for some customers — especially during tight layovers.
Persons: A321XLR, Patrick Quayle, Widebodies Organizations: Boeing, Airbus, JetBlue, United Airlines, Newark Liberty, WOW, Boston, Tap Air, Aer Lingus, Delta Air Lines, Wizz Air, Compagnie Locations: North America, Europe, That's, New York, Malaga, Spain, Chicago, Shannon, Ireland, Iberia, Madrid, Tap Air Portugal, Los Angeles, Hungarian, Boston
China is on edge after Trump's talk of tariffs
  + stars: | 2024-11-29 | by ( Huileng Tan | ) www.businessinsider.com   time to read: +5 min
AdvertisementOn Monday, Donald Trump threatened more tariffs on China, blaming Beijing for fentanyl. China criticized Trump's tariff threats, calling them ineffective and unjustified. "The excuse the president-elect has given to justify his threat of additional tariffs on imports from China is farfetched," wrote China Daily in a Tuesday editorial. AdvertisementMarkets are muted as investors wait and seeGlobal markets were jolted following Trump's post on Truth Social on Monday, but the effects have been felt mostly in foreign exchange. Global firms and Chinese manufacturers have already been diversifying their operations to manage concentration risks following Trump's first term and the COVID-19 pandemic.
Persons: Donald Trump, Trump, he'd, George Saravelos, Goldman Sachs, Wu Zhiqiang, Young Liu, Al Jazeera Organizations: Global, Deutsche Bank, Shenzhen Lingke Technology, Nikkei Asia, Apple, Macquarie Locations: China, Beijing, United States, Shenzhen, Thailand, India, Vietnam, Taipei, Al, Southeast Asia, Africa, China's
AdvertisementElon Musk and Donald Trump have been inseparable since the election and spent Thanksgiving together. Sylvester Stallone also attended, and Mark Zuckerberg visited Trump's resort on Wednesday. Elon Musk and Donald Trump have been inseparable since the latter's election victory — and the Tesla CEO was one of several celebrity guests for Thanksgiving at Mar-a-Lago. Elon Musk, Donald Trump, Barron and Melania blasting YMCA at Mar-a-Lago on Thanksgivingpic.twitter.com/elroKGQ9VA — ALX 🇺🇸 (@alx) November 29, 2024Musk isn't the only tech boss to be spending time at Mar-a-Lago this Thanksgiving. Meta CEO Mark Zuckerberg dined with Trump on Thanksgiving eve, the company told Business Insider in a statement.
Persons: Elon Musk, Donald Trump, Sylvester Stallone, Mark Zuckerberg, , Tesla, Musk, 3wlYgdJus4 — Elon, Vivek Ramaswamy, Trump's, Melania, Barron Organizations: Trump, Mar, Department of Government Locations: Lago, Florida, Mar
AdvertisementJob seekers may face 'love-bombing' from hiring managers during interviews. If a hiring manager is excessively complimenting you and telling you you're the top candidate during an interview, you may be being "love-bombed." Many job seekers complain of inconsistent behavior from hiring managers, CNBC reported, being flattered and praised one minute and ghosted the next. "They may overhype your chances to keep you interested," Barber said. It may not always be a scheme, though, and some recruiters and hiring managers may be love-bombing without realizing it.
Persons: Renee Barber, Barber, they're, Janine Chidlow, Wilson, Chidlow, Amanda Fischer, Fischer, they've Organizations: CNBC, TYR Talent Solutions, AMF, Consulting, BI
SEOUL, SOUTH KOREA - NOVEMBER 28: Haerin, Danielle, Hanni, Minji and Hyein of girl group NewJeans attend the press conference on November 28, 2024 in Seoul, South Korea. K-pop girl group NewJeans hold a press conference an announcement on the termination of their contract with their agency Ador. South Korea's largest K-pop agency Hybe lost over $423 million in market cap on Friday after rookie group NewJeans announced it was terminating its contract with Hybe sub-label ADOR. In 2024, NewJeans had also won the Group of the Year Award at Billboard's Women in Music ceremony. Billboard's citation said the group scored entries across 10 Billboard charts, including the Billboard Hot 100, Billboard 200, and Billboard Global 200.
Persons: Danielle, Hanni, Hybe, NewJeans, ADOR, Min Hee, Min Organizations: SOUTH, Hybe, South, JoongAng Ilbo, Group, Billboard Locations: SEOUL, SOUTH KOREA, Seoul, South Korea, South, ADOR, South Korean, South Korea's, NewJeans, U.S
The stock has seen massive gains this year, surging more than 515%. Chip equipment stocks — Shares of chip equipment stocks moved higher on a report that the Biden administration is considering more restrictions on sales of semiconductor equipment and artificial intelligence memory chips to China that may be less strict than expected. Walmart , the country's largest retailer, rose more than 0.2%, while shares of Target and Costco , advanced 0.6% and 0.3%, respectively. Robinhood — The brokerage firm climbed 3% premarket, continuing a postelection rally, after the U.S. Securities and Exchange Commission approved the creation of a 24-hour stock exchange by startup 24 Exchange, paving the way for round-the-clock trading. Zeta Global Holdings — The marketing software company rose 5% after its CEO said Wednesday on CNBC's "Closing Bell" that a recent short seller's report was "erroneous."
Persons: Biden, Robinhood, , Jesse Pound, Yun Li Organizations: Lam Research, KLA Corporation, ASML, Bloomberg, Walmart, Target, Costco, U.S . Securities, Exchange Commission, Trump, Zeta Global Holdings Locations: China
AdvertisementMcKinsey, Bain, and BCG are top strategy consulting firms with low acceptance rates. McKinsey & Company, Bain & Company, and Boston Consulting Group — collectively referred to as MBB — are widely considered the top three strategy consulting firms in the world. Sometimes referred to as the Big Three, MBB firms are among the most prestigious consulting firms and their clients include many Fortune 500 companies as well as government agencies. MBB firms typically offer highly competitive salaries, generally paying more than other consulting firms, and often come with demanding work responsibilities and expectations. The MBB firms are strategy and management consulting firms.
Persons: Jessica Apotheker, Jobs, It's, Bob Sternfels, Christoph Schweizer, Rich Lesser, Amber Grewal, Alicia Pittman, BCG's, Bain & Company Bain, Bain, Christophe De Vusser, Davis Nguyen Organizations: McKinsey, Bain, Fortune, McKinsey & Company, Bain & Company, Boston Consulting Group, Big, Deloitte, EY, KPMG, Company McKinsey, Business, Boston Consulting, Financial Times, undergrads Locations: New York City, undergrad, Boston
AdvertisementProcreate CEO James Cuda said VC funding for apps has "dried up," making entering the market challenging. Cuda named Uber as an app that made an impact by doing something different. Procreate CEO James Cuda has some bad news: the "gold rush is kind of over." His advice to app founders competing in today's app landscape is to "take a bold risk." The app CEO named Uber as a prime example of a product that came out of left field with a concept that nobody had successfully tried before.
Persons: James Cuda, Cuda, Uber, Andreessen Horowitz, there's, it's, they've Organizations: Business, BI, Apple
Pristina, Kosovo (Reuters) - An explosion on Friday evening damaged a canal in northern Kosovo supplying water to two coal-fired power plants that generate nearly all of the country’s electricity, Prime Minister Albin Kurti said, blaming what he called “a terrorist act” by neighbouring Serbia. Earlier on Friday, Kosovo police announced increased security measures after two recent attacks where hand grenades were hurled at a police station and municipal building in northern Kosovo where ethnic Serbians live. People stand near the damaged canal in northern Kosovo supplying water to two coal-fired power plants that generate nearly all of the country's electricity, in Varage, Kosovo November 30, 2024. Independence for ethnic Albanian-majority Kosovo came in 2008, almost a decade after a guerrilla uprising against Serbian rule. The EU’s Kosovo ambassador, Aivo Orav, condemned the attack that he said was already “depriving considerable parts of Kosovo from water supply”.
Persons: Albin Kurti, ” Kurti, Kurti, Vjosa Osmani, Valdrin Xhemaj, Faruk Mujka, Aivo Orav Organizations: Reuters, Kosovo, Reuters Local, Kosovo Energy Corporation, Serbian Locations: Pristina, Kosovo, Serbia, Serbian, Varage, Albanian, Belgrade, The
CNN —Holiday shoppers got an early jump on Black Friday shopping this year, spending a record $6.1 billion on Thanksgiving, according to Adobe Analytics. Sales on the holiday increased year-over-year by 8.8%, a jump from 2023, which saw Thanksgiving sales climb by 5.5% as consumers looked to keep stretching their dollar. Shoppers found their phones were more convenient than their computers to make purchases this year, making up almost 60% of online sales. The “Buy Now, Pay Later” installment payment plan options gained more popularity as well, driving $430 million in online spending. Adobe expects Black Friday sales will set more online records, predicting $10.8 billion in spending with electronics as the most popular purchase.
Persons: Vivek Pandya Organizations: CNN, Adobe Analytics, Mobile, Shoppers, Adobe Digital, Adobe, Black, National Retail Federation Locations: chatbots
Five Canadian news media companies filed a legal action on Friday against ChatGPT owner OpenAI, accusing the artificial-intelligence company of regularly breaching copyright and online terms of use. OpenAI using other companies' journalism for their own commercial gain is not. In an 84-page statement of claim filed in Ontario's superior court of justice, the five Canadian companies demanded damages from OpenAI and a permanent injunction preventing it from using their material without consent. "The News Media Companies have never received from OpenAI any form of consideration, including payment, in exchange for OpenAI's use of their Works." The Canadian news companies' document did not mention Microsoft.
Persons: OpenAI, brazenly, Elon Musk Organizations: Microsoft, The Globe, Canadian Press, CBC, Radio, New, News Media Companies Locations: The, New York, Canadian
AdvertisementUber and Lyft drivers in Phoenix and LA have said driverless taxis are hurting their earnings. Some Uber and Lyft drivers have said the driverless taxis operating in their markets are driving down their earnings. Some drivers told BI this was already happening. AdvertisementRestrictions on robotaxis could help reduce competitionJohn, a 43-year-old Uber and Lyft driver in Phoenix, said he thought Waymo One's robotaxis had hurt his earnings. He sometimes asks his passengers about their experiences using driverless taxis to get a better understanding of his competition.
Persons: Jason D, Jason, Uber, Carl Benedikt Frey, Frey, Waymo, didn't, Mobileye, John, Waymo One's robotaxis, Brad, aren't, Nicole Moore, who's Organizations: Phoenix, Austin, Oxford Internet Institute, Drivers United Locations: Phoenix, LA, Los Angeles, San Francisco, Atlanta, Las Vegas, , Waymo, robotaxis
AdvertisementTSMC founder Morris Chang asked Nvidia founder Jensen Huang to take over as CEO in 2013. In a new memoir, Chang reveals he set out his vision for TSMC for 10 minutes before Huang declined. The founder of Taiwanese chip giant TSMC has revealed he once asked Jensen Huang if he would succeed him as the company's CEO. AdvertisementIn the memoir, Chang writes he was looking for a successor to lead TSMC in 2013. AdvertisementHaving founded TSMC in 1987, Chang, 93, stood down as CEO in 2018 and was replaced by C C. Wei, the current CEO.
Persons: Morris Chang, Jensen Huang, Chang, Huang, TSMC, C, Wei Organizations: Nvidia, Apple, Forbes
The expanded College Football Playoff format has changed the game for media companies this season — and for Disney in particular. This season marks the first of the 12-team College Football Playoff format, meaning fans of more teams than ever have more skin in the game. In 2022, the university presidents who oversee the College Football Playoff voted to expand the postseason system that determines the national champion from four to 12 teams. "College football is a key cog in our portfolio, not only the sports portfolio but also our Disney platform portfolio. ABC in particular is on track to have its best season for college football ratings since 2009.
Persons: Donovan Edwards, Michael Taaffe, Kevin Krim, we've, Jim Minnich Organizations: Michigan, Texas Longhorns, Disney, , ABC, ESPN, ESPN2, EDO, Ohio State, College Football, College, Consumers Locations: Ann Arbor , Michigan, Michigan, Texas
AdvertisementAdam Knorr left a lucrative finance career to pursue writing in Hawaii in 2022. Related VideoI graduated with a journalism degree, but my brother worked in finance in Nashville. AdvertisementI spent day after day locked in my bedroom in Hawaii — just me and the geckos — sending cold emails and LinkedIn messages. AdvertisementI started writing a book in Hawaii before moving to MichiganWhile in the work-stay program, I wrote some email copy for the farm. Worst-case scenario 2: I try to write, fail, and get another finance job.
Persons: Adam Knorr, Knorr, I'd, I've, it's, , Tim Ferriss, could've Organizations: Dodge Challenger, I'm Locations: Hawaii, Nashville, Hawaii —, Michigan
5 big questions about how tech will look under Trump
  + stars: | 2024-11-29 | by ( Clare Duffy | ) edition.cnn.com   time to read: +10 min
He sought to swat down legal protections for tech platforms. Many Republicans are eager to see the Trump administration address what they see as “censorship” of right-leaning voices by many mainstream social media platforms. That could mean reforming or reinterpreting Section 230, which shields tech platforms from liability for their users’ posts and allows the platforms to moderate content as they see fit. In essence, Carr could attempt to pass a rule that would make it possible to sue tech platforms under that new interpretation. Ultimately, that could mean hamstringing tech companies’ efforts to reduce hateful or false content on their platforms.
Persons: Trump, Donald Trump, – —, Trump’s, TikTok, Mark Zuckerberg, He’s, it’s, Elon Musk, Will TikTok, , he’ll, Shou Zi Chew, Kent Nishimura, Alan Rozenshtein, ” Rozenshtein, You’re, doesn’t, isn’t, Will Trump, … we’ve, ” Musk, Joe Biden, Biden, , John Villasenor, Brendan Carr, Carr, Gigi Sohn, Tom Wheeler, Evan Greer, Lina Khan, JD Vance, Musk, Khan, Tayfun, – Khan, ” Villasenor, ” Greer, Republican Sen, Marsha Blackburn of, Democratic Sen, Richard Blumenthal, Mike Johnson Organizations: New, New York CNN, Google, Big Tech, Trump, Bloomberg, Getty, University of Minnesota, Apple, CNN, , Fox News, Republican, UCLA Institute for Technology, Law, Federal Communications Commission, FCC, Democratic, Federal Trade Commission, Biden, White, Trump White House, Microsoft, Activision Blizzard, Kroger, Albertsons, FTC, Department, DOJ, TV, Senate Locations: New York, United States, , Washington ,, Marsha Blackburn of Tennessee, Connecticut
AdvertisementMeta plans a $10 billion global underwater cable project spanning 25,000 miles, TechCrunch reported. The project is reportedly in the early planning stages, though the exact route has not been announced. Meta aims for sole cable ownership of the cable, avoiding geopolitical tension areas like the Red Sea. Meta is reportedly planning to build a fiber-optic underwater cable that would traverse the globe, TechCrunch reported. The project would take years to complete, given limited resources like cable ships, TechCrunch reported.
Persons: Teleography, Sunil Tagare, Tagare Organizations: TechCrunch, Meta, Meta's, Google, Amazon, Microsoft, LinkedIn Locations: Meta, Africa, Africa's, India, East Coast, South Africa, Darwin, Australia, South, Egypt, Marseilles, Straits, Malacca, Singapore
The issue is compounded by the fact that legitimate strategies to make money with bitcoin are being discussed publicly by reputable sources. That, coupled with the technological advances of AI, makes scams seem more real, even for more sophisticated investors, industry professionals said. Coinbase is seeing several scams in which cyber thieves send a text claiming a crypto owner's account has been compromised. How families get defraudedThere's the adage, "If it sounds too good to be true, it probably is," but when it comes to crypto scams, people still take the bait. Another red flag is if an organization asking for money claims crypto is the only payment option, Velasquez said.
Persons: Eva Velasquez, Elon Musk, Merrick Theobald, Trump, Coinbase, scammers, Jeff Lunglhofer, Theobald, Howard Greenberg, Greenberg, you've, Yaya Fanusie, Fanusie, Velasquez Organizations: Theft Resource, Federal Bureau of, Investors, Engadget, Government, Cryptocurrency Association, Crypto, Innovation, LinkedIn, SEC Locations: Liechtenstein, cryptocurrency
AdvertisementIndia's airlines have received 999 hoax bomb threats this year, according to an Indian official. He said there were 500 bomb threats in the last two weeks of October alone, but all were hoaxes. India's airlines have already received 999 hoax bomb threats this year, Murlidhar Mohol, India's deputy civil aviation minister, said on Thursday. Mohol said that 12 people had been arrested in connection with 256 police complaints filed over hoax bomb threats up until November 14, and that more than 500 threats had been made in the final two weeks of October, more than in the rest of the year combined. AdvertisementAnother Air India plane flying from Mumbai to New York was diverted midair to New Delhi in October, The Indian Express reported at the time.
Persons: Murlidhar, Mohol Organizations: Reuters, Boeing, Air India Express, India, Indian Express Locations: India, Delhi, Chicago, Mumbai, New York, New Delhi
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