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The postelection drawdown in Eli Lilly may have been overblown as one close confidant to President-elect Donald Trump appears to support weight loss drugs, according to Bernstein. Breen has an outperform rating on Eli Lilly and price target of $1,100, which suggests upside of 38.2% from Wednesday's close. Eli Lilly is behind the Mounjaro drug for diabetes and Zepbound for weight loss, among others. LLY YTD mountain Eli Lilly, year to date Breen noted there is a potential trade-off on price as supply increases. Despite recent challenges, Eli Lilly shares are up more than 35% in 2024.
Persons: Eli Lilly, Donald Trump, Bernstein, Robert F, Kennedy Jr, Courtney Breen, Breen, David Ricks, Kennedy, Elon Musk, Musk, Lilly Organizations: Trump, Department of Health, Human Services, Pfizer, Pharmaceutical Research, Manufacturers of America, Elon, Novo Nordisk Locations: Wednesday's
Legislation was introduced in the Texas House of Representatives on Thursday to establish a strategic bitcoin reserve, which could serve as a proving ground for the U.S. Treasury. The Texas bill aims to provide a way to strengthen the state's fiscal stability and establish it as a leader in bitcoin innovation, according to the Satoshi Action Fund, a nonprofit bitcoin advocacy group that worked with Capriglione on the bill. "A strategic bitcoin reserve, investing in bitcoin, would be a win-win for the state." "I just filed the bill ... entitled 'An act relating to the establishment of a bitcoin reserve within the state treasury of Texas and the management of cryptocurrencies by governmental entities,'" he said later. The drumbeat for a national strategic bitcoin reserve – one of President-elect Donald Trump's crypto-friendly campaign promises – has grown louder since the election.
Persons: Giovanni Capriglione, Satoshi, Capriglione, Donald Trump's, , Bitcoin Organizations: U.S . Treasury, Republican Locations: Texas, bitcoin, U.S, cryptocurrency
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHoliday Survey: 49% of customers have done less than half or none of their shoppingCNBC's Steve Liesman reports on the latest news from CNBC's latest All-America Economic and Holiday Surveys.
Persons: Steve Liesman Organizations: America, Surveys
Gomez shared pictures of the engagement ring on Instagram on December 11. Selena Gomez and Benny Blanco first collaborated on a song together in 2015. December 2023: Gomez and Blanco become Instagram officialIn late 2023, fans began to speculate that Gomez and Blanco were dating. Selena Gomez confirmed her relationship with Benny Blanco on December 7, 2023. Selena Gomez opened up about her relationship with Benny Blanco, calling him her best friend, biggest supporter and now one of People's "Sexiest Men Alive."
Persons: Selena Gomez, Benny Blanco, Gomez, Blanco, Blanco Blanco, Katy Perry's, Gomez's, Justin Bieber, Tainy, J Balvin Blanco, J Balvin, cuddling, Benny, boyfriend Blanco, Bieber, Vareity, Zach Sang, " Blanco, Blanco Gomez, Carrie Bradshaw, Instagram Gomez, they'd, I've, Selena Gomez's, Allen Berezovsky, courtside, Golden Globes Gomez, Howard Stern, didn't, hadn't, urs, elena G Organizations: Tainy, Crypto.com Arena, Getty, Los Angeles Lakers, Miami Heat, Golden Globes Locations: Instagram, New York, ife
Masnaa, Lebanon’s border with Syria CNN —Nadia’s eyes were full of tears as she crossed the border from Syria to Lebanon. People cross from Syria into Lebanon at the Masnaa border crossing on Wednesday, December 11. My brother is there, I have not seen him in 11 years,” Mohammed told CNN. And there are so many children,” Fatima, a young woman trying to get into Lebanon, told CNN. As Nadia and Saiman continued their journey to Beirut, Mohammed, his wife and their four sons headed the other way.
Persons: Syria CNN —, Nadia, Saiman, Sydra, Mohammed, Syria’s, Bashar al, Assad, what’s, Ivana Kottasova, , ” Mohammed, It’s, didn’t, , Amani, Hassan Nasrallah, , Nasrallah, Diaa, CNN Diaa, CNN Israel, ” Diaa, regime’s, ” Fatima, Fatima, He’s, ” Saiman Organizations: Syria CNN, Taxi, CNN, Hezbollah, Syria, Lebanese General Security, Lebanese Locations: Lebanon’s, Syria, Lebanon, Germany, Hasaka, Nadia, Beirut, Masnaa, Damascus, Lebanese, Israel, Iran, Kurdish, “ Lebanon, Islam, Turkey, al Qaeda
Why Walgreens is struggling even more than CVS
  + stars: | 2024-12-12 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +3 min
Walgreens and private equity firm Sycamore Partners are discussing a deal to take Walgreens private, the Wall Street Journal reported Tuesday. Walgreens has slipped behind CVS because it’s smaller than CVS, giving it less scale to negotiate prices with insurers and other health care entities that pay for most of the prescriptions people pick up. Both the pharmacy business and the retail business are struggling for different reasons. Walgreens gets 26% of its US retail pharmacy sales from its front-end business, compared to 21% of sales at CVS. To be sure, CVS is struggling too, closing more than 1,000 stores in recent years.
Persons: , Jenny Guadamuz Organizations: New, New York CNN — Drug, Walgreens, Sycamore Partners, Wall Street, CNN, CVS, Walmart, Costco, Aetna, Caremark, Federal Trade Commission, Health Affairs, PBMs, UC Berkeley School of Public Health Locations: New York, United States, Black
While absorbing Cruise may streamline operations and cut costs, GM is (or was) a front-runner in autonomous driving technology and the front-runner among legacy US automakers. GM TSLA YTD mountain GM vs. Tesla, YTD Both GM and Waymo, using a broader suite of sensors, were making a considerably more significant investment per vehicle to provide additional safeguards than Tesla does with its camera-only approach. The second was the massive $5.6 billion cash infusion spearheaded by Alphabet into Waymo, which was announced in late October. GM YTD mountain GM, YTD General Motors will likely generate over $12 billion in free cash flow for FY2024. Selling a cash-covered put is a way to take a neutral to mildly bullish posture seeking to collect options premium.
Persons: Lyft, Tesla, Meta, Mark Zuckerberg's, haven't, Cruise, , I've Organizations: GM, YTD, Toyota, Motors, CNBC, NBC UNIVERSAL Locations: Lyft, San Francisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNot seeing any signs of consumer resilience waning in any way, says BofA’s Liz Everett KrisbergLiz Everett Krisberg, head of Bank of America Institute, joins ‘Squawk Box’ to break down the Institute’s November Consumer Checkpoint Report, which provides real-time consumer spending and financial health estimates.
Persons: Liz Everett, Liz Everett Krisberg Organizations: Bank of America Institute
Charts signal that an Nvidia breakdown could be imminent
  + stars: | 2024-12-12 | by ( David Keller | ) www.cnbc.com   time to read: +5 min
Today we'll analyze the charts of Nvidia (NVDA) , review how the technical picture has changed in recent weeks, and identify potential downside targets for this former high-flying semiconductor company. The more likely scenario, given the bearish indications on the weekly chart, would be a downside break of $132. If we do detect a confirmed breakdown of support around $132, what sort of downside price objective could we expect? This downside price target lines up quite well with the 200-day moving average, which Nvidia has actually not touched since January 2023! But given the long-term strength on the weekly chart, this could provide an opportunity to accumulate one of the top AI names at a deep discount.
Persons: NVDA, David Keller Organizations: Nvidia, CMT, CNBC, NBC UNIVERSAL
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavid Sacks is a 'great hire,' Prince Khaled bin Alwaleed bin Talal Al Saud says of Trump's pick for crypto czarKBW Ventures CEO Prince Khaled bin Alwaleed says that President-elect Donald Trump's AI and Crypto czar pick David Sacks is a "great hire."
Persons: David Sacks, Prince Khaled bin Alwaleed bin Talal Al Saud, Prince Khaled bin Alwaleed, Donald Trump's Organizations: KBW
Here is how one group of initially skeptical centimillionaires got over their doubts, how they are now thinking about bitcoin, and how they invest in it. AdvertisementThe group's members, which make up a diverse bunch, range from 30 to 87 years old with the average being 45 to 55. But bitcoin's future price prospect isn't the only draw for R360 members. This perception isn't new or unique to R360 members. They're making their voice heard, 'this candidate, yes, because they're supportive of bitcoin, and this candidate, no, because they're not.'
Persons: Charlie Garcia, Garcia, Donald Trump, centimillionaires, Barbara Goodstein, bitcoin, Michael Saylor, you'll, Donald, who's, Bobby Kennedy's, they're, David Bailey, Bobby Kennedy, Bailey Organizations: Business, Trump, Bitcoin Conference, Bitcoin, Mar, BTC Inc Locations: bitcoin, Washington, United States, Nashville
President-elect Donald Trump 's picks for top regulators may not lead to a total free-for-all of corporate dealmaking, but they should be more than enough to unleash the pent-up demand for mergers and acquisitions, according to Morgan Stanley. "New Trump appointments at FTC and DOJ likely come with a more traditional, lighter touch antitrust framework. This should drive up animal spirits and improve corporate clarity in an M & A environment where market conditions are already supportive for activity," Kenny said. Clarity could be a key buzzword in the coming months, as some of the antitrust actions brought under current FTC Chair Lina Khan were novel and scared off other potential deals, Kenny said. Those companies should get a piece of the M & A action, regardless of what sector sees the most activity.
Persons: Donald Trump, Morgan Stanley, Ryan Kenny, Trump, Andrew Ferguson, Gail Slater, Biden, Kenny, Lina Khan, Ferguson, Kenny's, Goldman Sachs Organizations: Federal Trade Commission, Wall, Trump, FTC, DOJ, Big Tech
South Korean President Yoon vows to 'fight to the end'
  + stars: | 2024-12-12 | by ( ) www.cnbc.com   time to read: +2 min
South Korean President Yoon Suk Yeol on Thursday lashed out at his political opponents as "anti-state forces," said North Korea has hacked the country's elections and defended his short-lived martial law order as a legal move to protect democracy. "I will fight to the end," he said near the end of a lengthy address broadcast on television. Yoon is under criminal investigation for alleged insurrection over the botched Dec. 3 martial law declaration, which sparked the biggest political crisis in South Korea in decades. Lawmakers broke through a police cordon, some by scaling the fence, to enter parliament and demand Yoon to rescind martial law within hours of the declaration. Even so, the opposition needs eight members of the PPP to vote with them for the president to be impeached.
Persons: Yoon Suk, Yoon, Han Dong Organizations: South, North, Power Party, PPP, Democratic Party Locations: North Korea, South Korea
Ulku Dogan had surgery to make her eyes blue after wearing colored contact lenses for years. AdvertisementSeven weeks ago, her dream came true when she flew to New York and paid $12,000 for surgery to permanently change her eye color from brown to blue. Some doctors, however, argue there isn't enough evidence that the benefits of cosmetic eye surgery outweigh the known and potential unknown long-term risks. In a 2021 study published in the Journal of Cornea and External Disease, 12 out of 40 keratopigmentation patients experienced light sensitivity in the first month. "He got his eye colored, and I'm like, 'what else do I need?'"
Persons: Ulku Dogan, Dogan, Kevin Niksarli, it's, who've, Dr, Alexander Movshovich, He's, Movshovich, Julian Prosia, keratopigmentation, Stephen D, McLeod, hadn't, It's Organizations: FDA, Manhattan LASIK, Wall Street, Ophthalmology, American Academy of Opthalmology, American Academy of Ophthalmology, BI Locations: San Francisco, New York, Manhattan, Canada, Movshovich
Bank of America sees potential for Constellation Energy that the market hasn't fully priced in. Analyst Ross Fowler upgraded the stock to buy from neutral and hiked his price target by $32 to $269. With that, he expects shares to jump 13.7% over the next year from Wednesday's close. Fowler said Constellation can continue to thrive as grid operator PJM Interconnection faces a power deficit. CEG YTD mountain CEG, year to date Constellation shares jumped 2.7% in Thursday's premarket trading following Fowler's upgrade.
Persons: Ross Fowler, Fowler Organizations: of America, Constellation Energy, Companies, Constellation Locations: Wednesday's, Wall
“The adverse impact brought by changes in the external environment has deepened,” national broadcaster CCTV said following the closed-door CEWC. This dovish shift in messaging shows China is prioritizing growth over financial risks, analysts said. At CEWC, Beijing sets targets for economic growth, the budget deficit, debt issuance and other variables for the year ahead. The CEWC readout said it was “necessary to maintain steady economic growth,” but did not mention a specific rate. Exporters say the levies will further shrink profits, hurting jobs, investment and economic growth in the process.
Persons: Donald Trump, , Zhiwei Zhang, won’t, Xu Tianchen, Lynn Song Organizations: Economic Work Conference, , CCTV, Xinhua, Communist Party, US, Trump, Economist Intelligence Unit Locations: China, United States, CEWC, Beijing, Greater China
Skyscrapers on the skyline from the offices of the European Central Bank in Frankfurt, Germany, on Monday, Nov. 25, 2024. European Central Bank policymakers are set to hold their last meeting of the year on Thursday, with expectations firmly set for the fourth quarter-percentage-point interest rate cut of 2024. The rate had been held at 4% since Sept. 2023, prior to the first cut of the current easing cycle in June 2024. The European central bank has firmly guided expectations this year, unlike the Federal Reserve, which surprised many with its 50-basis-point rate cut in September, and the Bank of England, which has left market-watchers guessing due to its divided committee. Two key details will be in focus: firstly, staff macroeconomic projections for growth and inflation, which were last delivered in September.
Organizations: European Central Bank, ECB, Federal Reserve, Bank of England, U.S Locations: Frankfurt, Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInside Look: World's Highest Grade Uranium Mine Supplies 11% of Global Demand. CNBC's Pippa Stevens with an inside look of the West's largest uranium mine, Cigar Lake in Northern Saskatchewan. This mine supplies about 11% of the global annual uranium demand and uses innovative techniques to extract high-grade uranium. As the demand for clean energy rises, especially from big tech companies like Microsoft and NVIDIA, the importance of such mines continues to grow. With geopolitical tensions increasing, these mines are becoming even more crucial.
Persons: Pippa Stevens Organizations: Microsoft, NVIDIA Locations: Northern Saskatchewan
Tesla's director of engineering for Autopilot has left the company for robotaxi rival Zoox. Elon Musk laid off over 10% of the company in April and is trying to pivot Tesla toward autonomous vehicles. AdvertisementZheng Gao, Tesla's director of engineering for Autopilot hardware and an eight-year veteran at the Elon Musk-run automaker is departing for rival robotaxi builder Zoox, the Amazon-backed company announced on Wednesday. Gao, who led hardware design for Tesla's Autopilot assisted-driving system, is the latest senior employee to leave the company. AdvertisementFour of CEO Elon Musk's direct reports previously announced their departures the week before Musk unveiled Tesla's Cybercab robotaxi in a glitzy Los Angeles event.
Persons: Zoox, Zheng Gao, Elon Musk, Gao, Elon Musk's, Musk, Marc Van Impe, Nagesh, Drew Baglino, Rebecca Tinucci, Tesla, Waymo Organizations: Tesla, Elon, Google, Amazon, Las Locations: Los Angeles, California, Texas, San Francisco, Las Vegas
CD rates have been going down throughout 2024, but some local institutions still offer good rates. California Coast Credit Union offers a startling 9.50% APY on its 95th anniversary Celebration CD. In comparison, even the best CDs available nationwide mostly offer CD rates in the high 4% to 5% APY range. If you're interested in opening a CD with this credit union, you'll want to act fast since CD rates are likely to decline further in 2025. Most of these are short-term CDs since short-term CD rates are currently outperforming long-term CD rates.
Persons: it's, you'll, You'll, We've Organizations: California Coast Credit Union, Business, Service, California Coast Credit, Imperial, Social, U.S . Locations: California, San Diego, Riverside, Orange, Los Angeles, Ventura, San Bernardino
Trump was flanked by Vice President-elect JD Vance , incoming first lady Melania Trump , NYSE President Lynn Martin and two of Trump's children, Ivanka and Tiffany, as the bell chimed. "We're going to give tremendous incentive like no other country has," Trump told the moneyed crowd, including by cutting taxes "very substantially." It's hard to bring things down once they're up," Trump told the magazine. Hedge fund magnate Bessent, Trump's pick to replace Janet Yellen as Treasury secretary, told Cramer the next administration will benefit both Wall Street and Main Street. "I think we're going to see under President Trump Wall Street can win and Main Street can win, just like we did in Trump 1.0.
Persons: Robert F, Kennedy Jr, Scott Bessent, Doug Burgum, Howard Lutnick, Trump, JD Vance, Melania Trump, Lynn Martin, Tiffany, Donald Trump, nobody's, CNBC's Jim Cramer, Joe Biden, Mark Zuckerberg's, Jeff Bezos, Cramer, Bessent, Janet Yellen, , Alex Harring, Yun Li Organizations: Treasury, NYSE, New York Stock Exchange, SpaceX, Elon, CNBC Investing, Trump Locations: Manhattan, , U.S, USA, Trump
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKlarna CEO on state of consumer: Seeing a clear shift away from credit cardsKlarna CEO Sebastian Siemiatkowski joins 'Squawk Box' to discuss the holiday shopping season, state of the consumer, growth outlook for the company, future of the credit card ecosystem and retail banking, impact of AI, and more.
Persons: Sebastian Siemiatkowski
CNN —A male humpback whale has made an extraordinary journey from South America to Africa — traveling more than 13,046 kilometers (8,106 miles) — the longest migration recorded for a single whale, a new study found. Humpback whales typically return to specific breeding locations each year because whale populations tend to be geographically distinct. The future of migrationWhaling in the 20th century killed nearly 95% to 99% of the humpback whale population in the Indian Ocean, according to Cheeseman. As a result, little information remains about the behavior and lives of humpback whales in that region. However, if exceptions to standard migratory patterns continue, Cheeseman suggests that humpback whales may adopt behaviors from other populations.
Persons: , Ted Cheeseman, Cheeseman, Ari Friedlaender, Humpbacks, Ekaterina Kalashnikova, ” Cheeseman, ” Friedlaender, Organizations: CNN, Pacific, Royal Society Open Science, Southern Cross University, West, University of California Locations: South America, Africa, Colombia, Zanzibar, East Africa, Australia, North, Alaska, Gulf, Maine, Norway, West Indies, Cape Verde, Santa Cruz, Zanzibar Channel, Fumba, Tanzanian, Unguja, Cheeseman
Cover letters can be one of the most challenging parts of applying to a job. Still, 89% of recruiters expect job candidates to submit them, according to Zety's 2025 Future of Work Report, which surveyed 753 recruiters or HR professionals involved in hiring. HR consultant Stefanie Fackrell, who's worked as a recruiter at companies like Nvidia and Google, is "doubtful" it's really that many. Still, she says, you should "have a well written, compelling cover letter on hand at all times." That's because especially in this highly competitive job market, "if someone is submitting a cover letter, if it's optional, that can help somebody stand out from the crowd," she says.
Persons: Stefanie Fackrell, who's Organizations: Nvidia, Google
The global oil markets are weighed down by ample supply and demand concerns, in part due to China's flagging economy. "So the global oil market is softer and that creates possibly an opportunity to take some further action," Yellen said. The US has been tightening its noose on Russian energy revenues. The measures have allowed the global energy markets to continue functioning in an orderly fashion — which prevents price shocks and inflation — but still limit Russia's oil revenue. In November, Russia's oil revenue fell 21% from a year ago amid weak energy prices, according to Bloomberg calculations based on official data.
Persons: Yellen, Janet Yellen, Biden, Dmitry Peskov Organizations: Bloomberg, Bloomberg TV, Brent, US West Texas, Kremlin, US Locations: Russia, Macquarie, Russian, Ukraine, India, China
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