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As seasoned real estate investors know, at a certain point buying rental properties becomes child's play. But reaching the big leagues requires some diversification, such as investing with real estate syndicates for bigger windfalls, or outsourcing day-to-day real estate operations to property managers to maximize time and efficiency. In a previous interview with Insider, Rivers shared his top three pieces of advice for beginning real estate investors. But he's also got some great insights for more seasoned real estate investors to help them diversify their holdings and reach the next level. But as they find their footing, at a certain point real estate investors must clearly define their goals.
Chegg's stock price recouped some of its gains on Wednesday after the online education company lost half its value a day earlier due to concerns about the potential impact of ChatGPT on its business. As of early afternoon New York time, Chegg shares were up 17% to $10.63. The shares had plummeted following Chegg's earnings report late Monday, when the company opted not to give annual guidance because of uncertainty surrounding OpenAI's ChatGPT, the popular artificial intelligence chatbot. "I think this is extraordinarily overblown, and I don't normally say that, I don't really talk about the stock price much," Rosensweig said. WATCH: Chegg CEO on earnings stock drop
Check out the companies making headlines in premarket trading. AMD — The semiconductor stock fell more than 7% in premarket trading after quarterly results a day earlier. PacWest's shares fell 4.6% in premarket trading after sliding nearly 28% on Tuesday. Biogen reported earnings last week, notching an adjusted $3.40 per share while analysts polled by StreetAccount forecasted $3.28. The online dating company reported first-quarter earnings that topped analysts estimates from Refinitiv after the bell Tuesday.
CVS cut its 2023 adjusted earnings guidance to a range of $8.50 to $8.70 per share from its previous projection of $8.70 to $8.90 per share. On Tuesday, the consumer products firm posted fiscal third-quarter adjusted earnings per share of $1.51 topped the $1.22 per share expected by analysts polled by Refinitiv. Revenue also beat, coming in at $1.91 billion versus the $1.82 billion expected by Wall Street. AMD also said it expects about $5.3 billion in sales in the current quarter, less than the $5.48 billion expected by Wall Street. Its adjusted earnings per share for the first quarter came in at $1.06, compared to the $1.13 expected, per Refinitiv.
May 2 (Reuters) - What's the cost of students using ChatGPT for homework? For U.S. education services provider Chegg Inc (CHGG.N), it could be nearly $1 billion in market valuation. Chegg forecast current-quarter revenue below estimates and signaled that the usage of viral chatbot ChatGPT was pressuring customer growth, sending its shares 44% lower in premarket trading on Tuesday. We now believe it's having an impact on our new customer growth rate," said Chegg CEO Dan Rosensweig. "We fear Chegg could start to lose mind-share before CheggMate fully rolls out," Thill said.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChegg CEO on stock drop after earnings and A.I. 's impact on outlookDan Rosensweig, Chegg CEO, joins 'Closing Bell: Overtime' to discuss the company's earnings and how A.I. worries have impacted the stock.
James Tahaney loads textbooks on to a pallet in preparation for shipping at the Chegg warehouse in Shepherdsville, Kentucky, April 29, 2010. Chegg shares tumbled after the online education company said ChatGPT is hurting growth. "However, since March we saw a significant spike in student interest in ChatGPT. The company, which provides homework assistance and online tutoring, said revenue would be between $175 million to $178 million this quarter, far below the analyst consensus estimate from FactSet of $193.6 million. Chegg shares were last down 46% to $9.50 in premarket trading Wednesday, set to add to a 30% decline already this year.
Chegg — Chegg shares tumbled 42% in premarket trading after CEO Dan Rosensweig said he expects artificial intelligence is "having an impact on our new customer growth rate." However, its adjusted earnings per share and revenue for the first quarter beat estimates, per Refinitiv. NXP Semiconductors — Shares of the chip maker jumped about 5% after the company beat analysts' expectations for first-quarter revenue and operating income. However, its first-quarter revenue beat analysts' expectations, according to Refinitiv. The company is also planning an up to $2 billion share buyback after its annual general meeting.
Chegg stock crashed 49% on Tuesday after the education company said students are increasingly using ChatGPT for homework help. First-quarter earnings beat analyst estimates, but that wasn't enough to stem fears that ChatGPT is a serious threat to Chegg. The education company sells subscription memberships to an online portal that helps students study for tests and complete homework. First-quarter earnings beat analyst estimates as Chegg saw little impact on its business from ChatGPT early in the quarter. We now believe it's having an impact on our new customer growth," Chegg CEO Dan Rosensweig said on the company's earnings call.
Chegg' s 48% stock price plunge on Tuesday, driven by comments in the company's earnings report about the risks of artificial intelligence, was "extraordinarily overblown," CEO Dan Rosensweig told CNBC Tuesday. On Monday's earnings call, Rosensweig said ChatGPT, the suddenly popular chatbot from startup OpenAI, was "having an impact on our new customer growth rate." "I think this is extraordinarily overblown, and I don't normally say that, I don't really talk about the stock price much," Rosensweig said. Rosensweig noted that ChatGPT struggles with delivering accurate answers, a phenomenon known as hallucination, and a problem in the academic world. "ChatGPT is often wrong, and it's not going to be right anytime soon."
As for today, let's see what Elon Musk and Larry Summers have to say about the state of the economy. In any case, ex-Treasury Secretary Larry Summers said recession odds for the next year are now sitting at 70%. These six factors suggest the stock market bottomed last October. Morgan Stanley's top equity strategist Mike Wilson thinks investors are banking too hard on a potential Fed rate cut this year. That discrepancy could set the stock market up for a sell-off, in his view.
Tuesday's selloff in Chegg shares exposed some investors to the dark side of artificial intelligence, igniting concerns about how the latest technology craze may be putting some companies' revenue sources in danger. CHGG 1D mountain Chegg shares plummet on AI risks While Chegg may be the first shoe to drop, it's certainly not the last company set to showcase some of the risks posed by AI. Elsewhere, Deepwater Asset Management's Gene Munster sees potential risks ahead to some consulting companies known to outsource work for other businesses. Companies operating off of seat-based models, such as human resources companies, may face headwinds from declining headcount, but could benefit long term from optimizing AI, he added. To be sure, even the largest companies dominating the space and poised to prosper from AI face risks ahead.
The US Navy has announced several visits by its subs to North Atlantic ports in recent years. Since 2020, when Norway allowed NATO subs to use a port near Tromsø, announcements of such visits appear to have increased. 'We're in your backyard'British Royal Navy attack submarine HMS Astute sails to the base at Faslane in November 2009. Russian Navy Yasen-class submarine Kazan at its base in Severomorsk on Russia's Arctic coast in June 2021. During the Cold War, US attack subs operated in the high north to get the Soviets to keep their attack subs close by to protect their ballistic-missile subs.
Real estate investor Dan Rivers, who owns a 16-unit portfolio worth $2.7 million, also flips homes. In addition to his rental income, Rivers also has another nearly $1 million invested with a number of different real estate syndicates. In fact, flipping homes has been a big part of Rivers' success in real estate investing. Getting started in flipping homesRivers first became interested in flipping homes in 2019, while working as a real estate agent. Luckily, Rivers' real estate commission cushioned the loss by a couple grand, bringing his total loss down to over $2,000.
Dan Rivers has amassed a 16-unit real estate portfolio worth $2.7 million in total. Rivers built his portfolio in just 4 years, after getting started in real estate at the age of 38. Real estate investor Dan Rivers is an excellent example of why it's never too late to begin working towards financial freedom. In the first year at his new job as a real estate agent, Rivers only made $28,000. In other words, don't simply ask for advice and risk making a seasoned investor think you're wasting their time.
You can scroll a bit further down for the market's reaction to the stunning Tucker Carlson announcement, but for today, we're turning our attention to crypto. If you ask Chamath Palihapitiya, that's because crypto crossed the wrong people and now it's dead, at least in the US. While crypto may be "dead in America," bitcoin is still going to $100,000. The housing market is close to bottoming and that could stave off a bad recession. That's according to Morgan Stanley, which wrote in a research note that housing is linked to broader business cycles.
Alvin Bragg, Manhattan district attorney, had filed a lawsuit seeking to block a subpoena issued to a former prosecutor. Photo: Stephanie Keith/Bloomberg NewsManhattan District Attorney Alvin Bragg and U.S. Rep. Jim Jordan (R., Ohio) on Friday agreed to an arrangement in which a former Trump prosecutor will testify before a House committee, ending litigation over the matter. Under the settlement, the deposition of former prosecutor Mark Pomerantz , who worked on the probe of Donald Trump for Mr. Bragg’s predecessor, Cyrus Vance Jr ., will go forward on May 12, according to a spokesman for Mr. Jordan. “We look forward to his appearance,” the spokesman said.
Dan Rivers didn't buy his first real estate property until 2019, when he was 38 years old. A late start to real estate investingWhen Rivers was 16 years old, doctors discovered he had a congenital heart murmur. Although he didn't know anybody there and had never sold real estate, Rivers decided that he wanted to capitalize on his newfound confidence by trying his hand at becoming a real estate agent. But his real estate investing journey began picking up steam in 2019, when he met a local real estate flipper. How a compound growth mindset contributed to Rivers' successIn fact, Rivers credits much of his real estate investing success to this compound growth mindset.
1 company to work for in the U.S., according to new research from LinkedIn: For the third year in a row, Amazon has claimed the top spot on the networking platform's annual Top Companies list, followed by Wells Fargo and JPMorgan Chase. Meta, which ranked twelfth on LinkedIn's list last year, was not eligible for this year's list after announcing it was eliminating approximately 13% of its workforce in November 2022. Just last month, Amazon told its staff the company would lay off 9,000 more employees in the coming weeks. 1 on LinkedIn's list for the third consecutive year. Amazon maintained its top spot after making a "significant investment" to support employees' upskilling and raise salaries, says Roth.
Chegg CEO explains how A.I. can be leveraged for students
  + stars: | 2023-04-18 | 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 EmailChegg CEO explains how A.I. can be leveraged for studentsDan Rosenweig, Chegg CEO, joins 'Closing Bell: Overtime' to discuss how the company plans to utilize A.I.
The release is poised to widen what pupils do with AI just as educators are grappling with its consequences. Rosensweig said Chegg focuses on math and the sciences, not the essay drafting that has challenged schools. Rosensweig said Chegg has structured and checked its answers to ensure accuracy. Asked if AI will prompt Chegg to shrink its pool of 150,000 experts contributing to its content, he said the company already balances humans with technology. Analysts in recent months have questioned whether Chegg can grow its base of 8 million subscribers as students embrace the largely free ChatGPT software, created by the startup OpenAI.
Chegg pitches itself as an AI middleman
  + stars: | 2023-04-17 | by ( ) www.reuters.com   time to read: +2 min
NEW YORK, April 17 (Reuters Breakingviews) - Educational software company Chegg (CHGG.N) is trying to stay one step ahead of artificial intelligence. With its stock down 40% since ChatGPT’s November release, Chegg has a new plan to act as an intermediary between students and AI. To that end, Chegg on Monday announced a partnership with ChatGPT developer OpenAI to build a virtual tutor, CheggMate. With awareness of AI proliferating, schools will face pressure to adapt; Chegg could fashion itself as a safer way to do so. Other companies with domain-specific databases may follow suit, rebranding themselves as middlemen to avoid being made obsolete by AI.
The rocket, which NASA has tagged for upcoming missions, is crucial to NASA's return to the moon. The highly anticipated Starship launch will determine whether NASA's Artemis moon program is on track for success. NASA's SLS relies on Starship for the moon landingA Starship prototype being launched. NASA's SLS rocket, by contrast, has a high price tag for the taxpayer: The project has cost $50 billion in development since the program's inception in 2006. All of this makes NASA's SLS a poor competitor to SpaceX's shiny new rocket.
These books cover real estate and investing, business, personal development, and leadership. Intrigued by real estate investing, in 2019 Rivers decided to take the plunge and buy his first real estate investment property. In a recent interview with Insider, Rivers recalled only making $28,000 during his first year of selling real estate. It taught him the expectations to set for his employees while he was building up his full-service real estate firm, Rivers Capital Group. While much of the focus for entrepreneurs is on building a business, Rivers believes that selling a business is just as important.
[1/5] Apr 14, 2023; Toronto, Ontario, CAN; Toronto Blue Jays relief pitcher Jordan Romano (68) prepares to throw out Tampa Bay Rays catcher Christian Bethancourt (14) for the final out in the ninth inning in a 6-3 Blue Jays win at Rogers Centre. Mandatory Credit: Dan Hamilton-USA TODAY SportsTORONTO, April 14 (Reuters) - The Tampa Bay Rays perfect start to the season came to an ugly end with a 6-3 loss to the Toronto Blue Jays on Friday as the 1884 St. Louis Maroons all-time record remained out of reach. But Tampa's record chase was undone in a horrific fifth inning that saw the Blue Jays bust open a tight 2-1 contest scoring four runs with much of the Tampa Bay damage self-inflicted. "Everything just didn't go our way that inning," Rays manager Kevin Cash told reporters. The Rays were playing from the back foot from the very start with Rasmussen serving up a solo home run to Jays leadoff man George Springer.
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