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Search resuls for: "CNBC'S David Faber"


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☆ Elon Musk: 'I'll say what I want, and if the consequence of that is losing money, so be it'
  + stars: | 2023-05-16 | by ( Mike Calia | ) www.cnbc.com   time to read: 1 min
Elon Musk told CNBC's David Faber on Tuesday that if his inflammatory tweets scare away advertisers from Twitter, he will accept that. "I'll say what I want, and if the consequence of that is losing money, so be it," said Musk, who owns Twitter. Musk replied defensively as Faber pressed him over a tweet Monday night in which he likened liberal billionaire George Soros to X-Men villain Magneto, a Jewish Holocaust survivor. Soros, who is also Jewish, is a favorite target of right wing pundits and politicians and often the subject of anti-Semitic attacks. For years, Musk has tweeted controversial items, including conspiracy theories and comments his critics have called broadly discriminatory.
☆ Elon Musk: Working from home is 'morally wrong' when service workers still have to show up
  + stars: | 2023-05-16 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +1 min
Silicon Valley "laptop classes" need to get off their "moral high horse" with their "work-from-home bulls***," Tesla CEO Elon Musk told CNBC's David Faber in a Tuesday interview. Musk was discussing return-to-office imperatives that have caused significant concern among tech workers in Silicon Valley and across the U.S., many of whom were promised generous remote work mandates by top executives. Musk referred to tech workers as the "laptop classes living in la-la-land," telling Faber it was hypocritical to work from home while expecting service workers to continue to show up in person. "People should get off the goddamn moral high horse with the work-from-home bulls***," Musk continued. As productivity apparently slackened and investor expectations grew, many executives at companies including Amazon and Salesforce have demanded workers begin to return to offices.
☆ FTC sues to block Amgen acquisition of Horizon Therapeutics
  + stars: | 2023-05-16 | 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 EmailFTC sues to block Amgen acquisition of Horizon TherapeuticsThe Federal Trade Commission on Tuesday said it has sued to block Amgen's $27.8 billion acquisition of Horizon Therapeutics. CNBC's David Faber reports.
☆ Elon Musk says tension between U.S. and China 'should be a concern for everyone'
  + stars: | 2023-05-16 | by ( Jordan Novet | ) www.cnbc.com   time to read: +2 min
Tesla CEO Elon Musk said Tuesday that people ought to be worried about tension between the U.S. and China. In an interview Tuesday following Tesla's annual shareholder meeting, CNBC's David Faber asked Musk if he was concerned about "the growing belligerence" between the U.S. and China. Faber asked Musk if China will make a move to take control of Taiwan. Faber asked Musk if he thinks it's inevitable that China would seek to take control of Taiwan. WATCH: Tesla CEO Elon Musk on U.S.-China tensions: There is some 'inevitability' to Taiwan situation
☆ Elon Musk claims he's the reason ChatGPT-owner OpenAI exists
  + stars: | 2023-05-16 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com   time to read: +1 min
"I came up with the name," Musk told CNBC's David Faber. Musk has previously repeatedly asserted that Microsoft controls OpenAI and that OpenAI's capped-profit model is questionable. Despite signing the letter, Musk still incorporated a rival AI firm, X.AI, in April. But Musk added that signing the letter warning of the dangers of AI was something he wanted to do "for the record." Page was "quite cavalier" about AI, Musk claimed.
☆ Elon Musk says remote work is 'morally wrong' and people need to 'get off the goddamn moral high horse with the work from home bullshit'
  + stars: | 2023-05-16 | by ( Grace Kay | ) www.businessinsider.com   time to read: +3 min
Elon Musk said he sees remote work as "morally wrong" and the "laptop classes are living in la la land." The billionaire said remote workers need to "get off the goddamn moral high horse" in a CNBC interview. Musk told Tesla workers last year that they could work in the office fulltime or quit. The billionaire compared remote work to a "let them eat cake" scenario and said that he thinks the "laptop classes are living in la la land." Musk said that he thinks remote workers need to "get off the goddamn moral high horse with the work from home bullshit because they're asking everyone else to not work from home while they do."
☆ Elon Musk says Tesla will try out advertising for the first time in a major shift for the automaker
  + stars: | 2023-05-16 | by ( Grace Kay | ) www.businessinsider.com   time to read: +3 min
Elon Musk said during a shareholder meeting that Tesla will "try out" advertising for the first time. Elon Musk said Tesla will begin advertising for the first time in its history. Musk's announcement at the Tesla event was met with cheers from the crowd at the event. Musk told Faber he'd only just decided to try out advertising during the Tesla event. Musk did not specify where Tesla will begin advertising its products.
☆ Disney's quarter reflects what we knew all along about Bob Iger's turnaround plan. Here's our earnings analysis and what's next
  + stars: | 2023-05-10 | by ( Jeff Marks | ) www.cnbc.com   time to read: +7 min
Botton line We've been saying for weeks that fiscal Q2 was not the one to rush in and get in ahead of. Not represented in the table, the Q2 loss was also smaller by $400 million quarter over quarter. Furthermore, management acknowledged churn could be a potential issue for one more quarter before returning to domestic sub-growth in the fiscal fourth quarter. As for theme park sales, this profitable growth engine remains in great shape, jumping nearly 38% to $6.76 billion in fiscal Q2. Iger's Strategy Updates Alongside fiscal Q2 results, we got some more news on the strategic changes Iger has for the company, about six months into his return as CEO.
☆ Stocks making the biggest moves midday: First Republic, Snap, Amazon, Intel and more
  + stars: | 2023-04-28 | by ( Samantha Subin | ) www.cnbc.com   time to read: +4 min
Snap — The Snapchat parent company cratered about 18% after missing revenue expectations for the recent quarter. Intel — Intel shares rose more than 4% even after the company reported its largest quarterly loss on record and a 133% reduction year over year. Colgate-Palmolive — The consumer giant saw its stock rally 4% after the company reported quarterly earnings and revenue that topped expectations. The company reported 98 cents in earnings per share, above the 89 cents expected by analysts polled by Refinitiv. Newell Brands — Shares gained 2% even after the consumer goods company reported a wider-than-expected loss.
☆ Bankers’ pitch to save First Republic: Help us now, or pay more later when it fails
  + stars: | 2023-04-26 | by ( Hugh Son | ) www.cnbc.com   time to read: +4 min
CNBC's David Faber, who first reported on the rescue plan Tuesday, said that the coming days are crucial for First Republic. But that model broke down in the aftermath of the SVB failure as its wealthy customers quickly pulled uninsured deposits. Other possible, but less-likely moves include converting the big bank's deposits into equity, or even finding a buyer. They also benefited the buyers who were able to cherry-pick the best assets while the FDIC retains underwater bonds, the First Republic advisors noted. "If anything, last night's discouraging update will make it even harder for First Republic to keep what it has."
☆ CNBC's David Faber on Microsoft-Activision acquisition: Deal is much closer to 'all dead'
  + stars: | 2023-04-26 | 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 EmailCNBC's David Faber on Microsoft-Activision acquisition: Deal is much closer to 'all dead'CNBC's Carl Quintanilla, Jim Cramer and David Faber discuss news of UK regulators blocking the Microsoft-Activision deal.
☆ Bitcoin jumps 8% as First Republic pulls banking sector concerns back into focus
  + stars: | 2023-04-26 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
Cryptocurrencies jumped on Wednesday as investor concerns about the U.S. banking sector began to swell again, with First Republic Bank fighting to avoid another collapse. "Crypto rallies during banking crises, and it looks like the banking crisis may not be over," Hougan said. "As First Republic is now on the verge of collapse, bitcoin represents both a safe haven versus uncertain bank deposits." As crypto rallied, the U.S. dollar index moved lower and was on pace for worst day since Apr. 12, when bitcoin traded at its highs of this year.
☆ Vince McMahon locks in two-year contract as WWE looks for buyers
  + stars: | 2023-03-31 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +1 min
World Wrestling Entertainment Inc. Chairman Vince McMahon is introduced during the WWE Monday Night Raw show at the Thomas & Mack Center August 24, 2009 in Las Vegas, Nevada. Vince McMahon has pinned down a two-year employment contract at World Wrestling Entertainment . The WWE chairman's agreement dates back to Jan. 9, when he returned to the company, according to a securities filing. McMahon returned to WWE's board in January help with the sale negotiations. At the time, his daughter, Stephanie McMahon, had taken over as co-CEO of WWE, a family business for the McMahons.
☆ Elliott Management drops plans to nominate directors to the Salesforce board
  + stars: | 2023-03-27 | 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 EmailElliott Management drops plans to nominate directors to the Salesforce boardCNBC's David Faber reports on news from Elliott Management and Salesforce.
☆ British regulator softens stance on Microsoft-Activision deal competition concerns
  + stars: | 2023-03-24 | 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 EmailBritish regulator softens stance on Microsoft-Activision deal competition concernsCNBC's David Faber reports on the latest headlines from the Microsoft-Activision deal.
☆ Citi lays out the possible outcomes for First Republic after banking crisis
  + stars: | 2023-03-23 | by ( Sarah Min | ) www.cnbc.com   time to read: +3 min
The path forward for First Republic after this month's banking crisis remains unclear, but Citigroup identified some possible scenarios for the embattled San Francisco-based bank. While the bank hasn't specified its deposit outflows, Citi noted that they've been substantial. In fact, CNBC's David Faber reported this month that JPMorgan is advising First Republic on strategic alternatives , including a capital raise or possible sale. Again, without knowing the actual level of deposit outflows, the underlying situation could vary quite a bit from our estimates," Cyganovich continued. "Given the challenges of the first two outcomes above, some form of government intervention seems increasingly likely, albeit in what form remains unclear," the analyst wrote.
☆ Watch CNBC's full discussion with the 'Squawk on the Street' anchors ahead of Fed's interest rate decision
  + stars: | 2023-03-22 | 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 discussion with the 'Squawk on the Street' anchors ahead of Fed's interest rate decisionCNBC's David Faber and Jim Cramer discuss the upcoming Federal Reserve decision on interest rates.
☆ Here are Morgan Stanley's favorite quality stocks to buy as bear market nears end
  + stars: | 2023-03-21 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
As investors start preparing for the end of the bear market, Morgan Stanley has identified a number of stocks it expects to outperform once the next bull market begins. He has an overweight rating on the stock and a $135 price target, which suggests about 33% upside from Monday's close. He has an overweight rating on Costco and a $520 price target, which implies a little more than 6% upside from Monday's close. Graseck has an overweight rating on JPM and a $173 price target, which implies 36% upside from Monday's close. His $155 price target suggests the stock could rally more than 20% from Monday's close.
☆ First Republic jumps nearly 30%, leads comeback rally in regional banks Tuesday
  + stars: | 2023-03-21 | by ( Jesse Pound John Melloy | Jesse Pound | John Melloy | ) www.cnbc.com   time to read: +2 min
In this article FRCKRE Follow your favorite stocks CREATE FREE ACCOUNTwatch nowPeople make their way near a First Republic Bank branch on March 16, 2023 in New York City. First Republic has been seen as one the remaining regional banks most at risk for the same fate as SVB, due to the large percentage of uninsured deposits it had as of the end of the fourth quarter. JPMorgan Chase led a group of 11 banks last week that deposited a combined $30 billion into First Republic, but its stock has continued to decline. Stock Chart Icon Stock chart icon First Republic, 1-dayReuters reported on Tuesday that major bank leaders were having a pre-scheduled meeting in Washington, with First Republic as a topic of discussion, and that the regional bank was considering downsizing as a way to raise cash. Stock Chart Icon Stock chart icon Regional bank ETF, 1-day
☆ Stocks making the biggest premarket moves: Tesla, First Republic, UBS, Foot Locker and more
  + stars: | 2023-03-21 | by ( Michelle Fox | ) www.cnbc.com   time to read: +2 min
Check out the companies making the biggest moves in premarket trading:Tesla — The electric vehicle maker rose 2% after Moody's assigned it a Baa3 rating and removed its junk-rated credit. First Republic — The beleaguered bank jumped nearly 19% in premarket trading, following a 90% plunge so far this month as investors focused on its large amount of uninsured deposits. Regional banks — Regional banks were also higher on the heels of First Republic's rise and as investors continued to digest the likelihood of expanded federal insurance. UBS — U.S.-listed shares of the Swiss-based bank were up 4%, a day after gaining 3.3% following its agreement to buy Credit Suisse for $3.2 billion. Foot Locker — Its shares rose more than 4% after Citi upgraded the retailer to "buy" from "neutral."
☆ JPMorgan advises First Republic on strategic alternatives, including capital raise
  + stars: | 2023-03-20 | 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 EmailJPMorgan advises First Republic on strategic alternatives, including capital raiseCNBC's David Faber joins 'The Exchange' to report on the latest with First Republic Bank.
☆ JPMorgan advising First Republic on strategic alternatives, including a capital raise, sources say
  + stars: | 2023-03-20 | by ( Jesse Pound | ) www.cnbc.com   time to read: +2 min
JPMorgan Chase is advising embattled First Republic Bank on strategic alternatives, sources told CNBC's David Faber. The alternatives may include a capital raise, the sources said, which could dilute current shareholders. First Republic shares were last down 30% in a volatile session. First Republic had an abnormally high number of uninsured deposits on its books, which was part of the problem with the now failed Silicon Valley Bank. That includes a Bank Term Funding Program that allows banks to more easily use their high-quality assets to raise cash.
☆ Banks could become a sector of 'haves and have nots.' How the 'Halftime' Traders are preparing
  + stars: | 2023-03-20 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
"This is a classic example of a company that's gonna do well when all the other banks are not," Sethi said on CNBC's "Halftime Report." Shares of New York Community Bancorp surged more than 35% Monday, rebounding from losses of 11.3% and 14.6%, respectively, the past two weeks. The announcement made her think, "the game has changed for New York Community Bank." "One bank's loss is going to be another bank's gain, and that's exactly what this is." NYCB FRC,KRE 1M mountain New York Community Bancorp, First Republic and the KRE's past month
☆ UBS buys Credit Suisse for $3.2 billion as regulators look to shore up the global banking system
  + stars: | 2023-03-19 | by ( Ashley Capoot Katrina Bishop | Ashley Capoot | Katrina Bishop | ) www.cnbc.com   time to read: +6 min
The terms of the deal will see Credit Suisse shareholders receive 1 UBS share for every 22.48 Credit Suisse shares they hold. "This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. The Swiss National Bank pledged a loan of up to 100 billion Swiss francs ($108 billion) to support the takeover. UBS initially offered to buy Credit Suisse for around $1 billion Sunday, according to multiple media reports. It reported a full-year net loss of 7.3 billion Swiss francs for 2022 and expects a further "substantial" loss in 2023.
☆ Asia markets set to rise over Wall Street banks' move to shore up banking system
  + stars: | 2023-03-17 | by ( Jihye Lee Lim Hui Jie | Jihye Lee | Lim Hui Jie | ) www.cnbc.com   time to read: +1 min
Yields, which move opposite price, were rising Thursday morning after the European Central Bank raised rates by a half percentage point. Yields moved even further after his report. Bleakley Financial's Peter Boockvar said the futures market moved to price in even higher odds of a Fed rate hike. On Wednesday, odds were about 50% for a quarter point rate hike, but in Thursday afternoon trading the odds jumped up to 86%. "Rate hike expectations have been rising all morning.
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