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Final Trades: Citigroup, Netflix and IBM
  + stars: | 2024-05-24 | 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 EmailFinal Trades: Citigroup, Netflix and IBMThe Investment Committee give you their top stocks to watch for the second half.
Organizations: Citigroup, Netflix, IBM The Investment
One AI model that is built to help investors pick winners in the stock market has grown confident in the near-term upside for a mid-sized energy stock. Some of the data sources that feed into the iFi AI model include macroeconomic updates, news articles, fundamental company data and technical trading indicators. The AI model is bullish on more energy stocks than just Marathon, as Southwestern Energy also makes the cut. One potential momentum play from the iFi AI list is Vertiv , whose share price has more than doubled in 2024. The CEO of iFi AI, which launched in March , is CNBC senior analyst and commentator Ron Insana.
Persons: Ai, Ron Insana Organizations: Oil, Southwestern Energy, CNBC Locations: Marathon, LSEG, The Ohio
We trimmed our positions shares in Morgan Stanley and Palo Alto Networks on Wednesday and Thursay, respectively, after nice moves higher for both stocks. Here's a closer look at what drove the moves in the portfolio's top five stocks this week. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Palo Alto Networks came in No. Palo Alto has been a sizable outperformer since early April, which factored into our trim Thursday. DHR YTD mountain Danaher (DHR) year-to-date performance Danaher advanced 4.9% in the week to secure a second-place finish.
Persons: Morgan Stanley, Estee Lauder, Rainer Blair, OpenAI, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Dow Jones, Nasdaq, Club, Palo Alto Networks, IBM, Palo Alto, Bank of America, Broadcom, Google, . Management, Wall Street, Apple, CNBC, Traders, New York Stock Exchange Locations: Thursay, China, Palo, Palo Alto, New York City, U.S
Bill Gross told Barron's that oil and gas pipelines are a top investment of his as he seeks alternatives to a tapped-out bond market. He says these publicly-traded multiple limited partnerships offer strong returns with additional tax advantages. Rather than seeking opportunity in the bond market, the legendary billionaire is investing in oil and gas pipelines. Gross notes that the pipelines — which trade as master limited partnerships — possess many of the yield attributes of bonds. Previously, he attempted to trade Broadcom on AI hopes, but was "whipped back and forth," Gross shared in March commentary.
Persons: Bill Gross, Gross, , that's, Barron's, " Gross, Con Organizations: Microsoft, IBM, Nvidia, Service, Energy, Western Pipeline, Gross, Broadcom, Dominion Locations: Barron's, Con Edison
As a teen, Chet Kapoor dreamed of working for tech mogul Steve Jobs. One day, that dream became a reality when Kapoor was hired as an intern at software company NeXT, founded by Jobs. "I was one step below the person that opened doors but that didn't matter because I worked 20 yards away from him [Jobs] every day." Kapoor made his mark in Silicon Valley as CEO of cloud software company Apigee, which was acquired by Google in a $625 million deal in 2016. However, he credits a lot of his success to his experience working as Jobs' intern in the early days.
Persons: Chet Kapoor, Steve Jobs, Kapoor, Steve, DataStax —, Jobs Organizations: NeXT, Jobs, CNBC, Google, IBM Locations: Silicon Valley
Robert H. Dennard, an engineer who invented the silicon memory technology that plays an indispensable role in every smartphone, laptop and tablet computer, died on April 23 in Sleepy Hollow, N.Y. The cause of death, at a hospital, was a bacterial infection, said his daughter, Holly Dennard. Mr. Dennard’s pioneering work began at IBM in the 1960s, when the equipment to hold and store computer data was expensive, hulking — often room-size machines — and slow. He was studying the emerging field of microelectronics, which used silicon-based transistors to store digital bits of information. His discovery opened the door to previously unimaginable improvement in data capacity, with lower costs and higher speeds all using tiny silicon chips.
Persons: Robert H, Holly Dennard, Dennard’s, Dennard Organizations: IBM Locations: Sleepy Hollow
Stock Chart Icon Stock chart icon The Dow, all-timeThe average was created by Charles Dow in 1896 with just 12 industrial stocks. Paired with the Dow Jones Transportation Average , the two were collectively meant to offer a gauge for the broader economy. The sole caveat: No utility or transportation stocks are included, given the existence of the Dow Jones Utility Average and Transportation Average. 1972: Dow hits 1,000It may be hard to imagine given the recent achievement, but the Dow traded below 1,000 until the early 1970s. The Dow saw its worst year since 2008 in 2022, though 2023's rebound allowed the index to erase those losses.
Persons: Spencer Platt, Dow, Charles Dow, There's, Richard Nixon, Alcoa Esmark, Du Pont, Dow didn't, Walt Disney, Eastman Kodak Merck Alcoa ExxonMobil Phillip Morris, T General Motors Sears, Morgan, Phillip Morris, Walmart Du Pont J.P, Morgan Chase Walt, Donald Trump, General Electric Nike American Express Goldman Sachs, Morgan Chase, Johnson, Joe Biden, Trump, Goldman Sachs, Gamble Amgen, Organizations: New York Stock Exchange, Getty, Dow Jones, Dow Jones Transportation, P Global, Dow, CNBC, General Foods, Harvester, Chevron, Procter, Gamble, Alcoa, Manville, ExxonMobil, Illinois Glass American Tobacco General Electric Procter, General Foods Sears Roebuck AT, T General Motors Texaco Bethlehem Steel, T General Motors Texaco Bethlehem Steel Goodyear Union Carbide Chevron Honeywell United Technologies Chrysler International Harvester US, Nickel Westinghouse Electric Eastman Kodak International, Woolworth, Oasis, Eastman Kodak Merck Alcoa ExxonMobil, Express General Electric Procter, Gamble AT, T General Motors, T General Motors Sears Roebuck Bethlehem Steel Goodyear Texaco Boeing Honeywell Union Carbide Caterpillar IBM United Technologies Chevron International, Walt Disney, Morgan Chase Westinghouse, Apple, Microsoft, Sears and Union Carbide, Eastman Kodak Johnson, Johnson Alcoa ExxonMobil, American Express General Electric Merck AT, T, Goodyear Procter & Gamble Caterpillar Hewlett, Packard Sears, Chevron Honeywell Union Carbide Citigroup IBM United Technologies, Walmart, Morgan Chase Walt Disney, Visa, Travelers, Nike, General Electric Nike American Express, General Electric Nike American Express Goldman Sachs Pfizer Apple Home Depot Procter, Gamble Boeing IBM Travelers Caterpillar Intel United Technologies Chevron, Morgan Chase UnitedHealth, Cisco Systems Johnson, Johnson Verizon, Cola McDonald’s, Du Pont Merck Walmart ExxonMobil Microsoft Corporation Walt Disney, Exxon Mobil, Walgreens Boots Alliance, Goldman Sachs Nike American Express Home Depot Procter, Gamble Amgen Honeywell, Apple Intel Travelers Cos Boeing IBM, Caterpillar Johnson, Johnson Verizon Chevron, Cisco Systems, Walgreens, Alliance Coca Cola Merck Walmart Dow Microsoft Walt Disney Locations: New York City, T General Motors Texaco Bethlehem Steel Goodyear, America
Evans is the founder of Exceptional Capital, which launched in 2022 among the many emerging VC firms that sprouted during the fundraising boom years. Before pursuing a life in venture capital and tech, Evans hoped to make it to the NFL as a linebacker at the University of Michigan. And then in 2022, Evans decided to launch Exceptional Capital and invest as a solo VC. Exceptional CapitalBecause he's been able to increase the size of his fund, Evans has been able to expand his team. "I could see that for Marell as well, just his work with Exceptional Capital and kind of his determination there."
Persons: , Marell Evans, Evans, he's, Dave Brandon, Brandon, Ben Horowitz, Andreessen Horowitz, Horowitz, A16z, Okta, Owen Van Natta, Hustling, Melissa Morano Aurigemma, Graham Stoddard, Andrew Van Nest, I've, Cody Coleman, Coleman, what's Organizations: Service, Exceptional, Business, NFL, University of Michigan, NCAA, IBM, Facebook, Vision, SV Angel, A16z, Exceptional Capital Locations: Miami, Michigan, San Francisco, Okta, Silicon Valley, SoftBank, , Bessemer
They can now add AI recruiting systems to that pile. It turns hiring into a depersonalized process, it inundates hiring managers, and it reinforces weaknesses in the system it's designed to improve. AI is supposed to fix this mess, saving companies time and money by outsourcing even more of the hiring process to machine-learning algorithms. Platforms like LinkedIn and ZipRecruiter have started using generative AI to offer candidates personalized job recommendations and let recruiters generate listings in seconds. Several seasoned recruiters told me they hadn't incorporated AI into their workflow beyond auto-generating job descriptions and summarizing candidate calls.
Persons: Josh Holbrook, Holbrook, I've, Rik Mistry, Ian Siegel, , ZipRecruiter, weren't, it's, Tatiana Becker, Becker, Pallavi Sinha, Sinha, Kerry McInerney, Danielle Caldwell, chatbot, Caldwell, Mclnerney, Peter Laughter, who's, Bonnie Dilber, Dilber, Aki Ito, Sandra Wachter, Wachter, David Francis Organizations: Business, Society for Human Resource Management, LinkedIn, Unilever, Google, BI, Microsoft, University of Cambridge, University of Sussex, Berkeley Haas Center for Equity, Gender, Leadership, Black, University of Oxford, IBM, Talent Tech Labs Locations: Alaska, HireVue, Humanly, Portland , Oregon, Zapier
Shortly after the opening bell, we will be selling 25 shares of Palo Alto Networks at roughly $315.50. We talked Wednesday on our Morning Meeting about how Palo Alto Networks may have a positive setup into earnings Monday night , according to Morgan Stanley. We thought Morgan Stanley's call was pointing out because into earnings in February, Morgan Stanley said it was "sitting this quarter out." Its call proved prescient when Palo Alto shares fell almost 30% in a single session after missing estimates on billings and reducing its outlook. For example, Morgan Stanley says this deal benefits Palo Alto it several ways, helping it accelerate market share in security analytics.
Persons: Jim Cramer's, Morgan Stanley, we've, Palo, Morgan Stanley's, It's, Jim Cramer, Jim Organizations: Palo Alto Networks, billings, UnitedHealth, Palo, Networks, IBM, CNBC Locations: billings, Palo Alto
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCommittee Stocks on the Move: Cisco, Deere, Target, Palo Alto and IBMThe Investment Committee discusses some of their stocks that are on the move.
Organizations: Cisco, Deere, Target, IBM The Investment Locations: Palo Alto
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalo Alto Networks' CEO Nikesh Arora: Agreement with IBM 'far-reaching'IBM CEO Arvind Krishna and Palo Alto Networks' CEO Nikesh Arora join 'Closing Bell Overtime' to discuss their recently announced partnership, how the two will collaborate on cybersecurity, how the partnership will integrate AI, and more.
Persons: Nikesh Arora, Arvind Krishna Organizations: Networks, IBM, Palo Alto Networks Locations: Palo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with IBM CEO Arvind Krishna and Palo Alto Networks' CEO Nikesh AroraIBM CEO Arvind Krishna and Palo Alto Networks' CEO Nikesh Arora join 'Closing Bell Overtime' to discuss their recently announced partnership, how the two will collaborate on cybersecurity, how the partnership will integrate AI, and more.
Persons: Arvind Krishna, Nikesh Arora Organizations: IBM, Palo Alto Networks Locations: Palo
Nikesh Arora CEO & Chairman Palo Alto Networks, speaking on CNBC's Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Palo Alto Networks is buying cloud security software assets from IBM as part of a broader partnership that will give the cybersecurity company access to more consultants and a bigger customer base. Consolidation has been ramping up in the security software industry as companies gear up for a swarm of attacks spawned by artificial intelligence. Palo Alto will incorporate IBM's Watsonx large language models into Cortex Xsiam, in addition to its use of models from Google . The SIEM category has been around for over 20 years, but Palo Alto just introduced Cortex Xsiam two years ago.
Persons: Nikesh Arora, Thoma Bravo's LogRhythm, Palo, Arora, he'd, Arvind Krishna, It's Organizations: Alto Networks, Palo Alto Networks, IBM, Palo Alto, Cisco, Splunk, Exabeam, CNBC, Palo, Google Locations: Davos, Switzerland, Palo, SIEM, cybersecurity, Palo Alto
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalo Alto Networks and IBM partnering to monitor and manage cybersecurity threats'Closing Bell Overtime' brings you breaking news on a partnership in the cybersecurity world.
Organizations: Alto Networks, IBM
Chubb became Berkshire's ninth biggest holding at the end of March, according to a new regulatory filing. AST SpaceMobile — Shares rocketed 33%. Cisco Systems — Shares jumped nearly 5% after the IT giant reported fiscal third-quarter adjusted earnings of 88 cents per share on revenues of $12.70 billion. The results topped analysts' estimates for earnings of 82 cents per share on revenues of $12.53 billion, according to LSEG. Palo Alto Networks — The cybersecurity company saw its stock rise 1% after announcing it will buy cloud security software assets from IBM .
Persons: Chubb, Berkshire Hathaway, Riley, Hawkins —, — CNBC's Scott Schnipper Organizations: AST, Cisco Systems —, Riley, Management, Alto Networks, IBM, Palo Alto Locations: Zurich, Los Angeles, Hawkins — The Minnesota, Palo
Apple desperately needs its Next Big Thing
  + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com   time to read: +10 min
But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.
Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia
Anti-Israel protesters are just engaging in a form of performance art, says Citadel CEO Ken Griffin. Griffin said he was pausing his donations to Harvard over its approach to on campus antisemitism. AdvertisementCitadel founder and CEO Ken Griffin, 55, isn't a fan of the anti-Israel protesters that have taken over American college campuses. That's just anarchy," Griffin said of the student protesters. Griffin's criticisms of student protesters highlight the huge influence that Corporate America has on higher education.
Persons: Ken Griffin, Griffin, , we're, That's, Griffin didn't, Harvard didn't, Darren Woods, Kevin O'Leary, O'Leary Organizations: Israel, Citadel, Harvard, Service, Financial Times, Columbia University, UCLA, The New York Times, BI, mater, Harvard University, Harvard Gazette, Senate, IBM, Funds Association Network Miami, Ivy League, CNBC, Fox News Locations: Israel
One of those programs is iFi Ai, an investment information firm powered by IBM's Watsonx. IFi AI takes in a wide range of market signals and data to make projections about where individual stocks will go next. One of the outputs from the iFi AI model is a 30-day projected price return. The iFi AI model sees a gain of 23%. The iFi AI model is not the only entity bullish on Schwab.
Persons: Ai, IBM's Watsonx, Ron Insana, Warren Buffett's Berkshire Hathaway, iFi, Piper Sandler, Matthew Clark, Charles Schwab, Schwab Organizations: CNBC, Paramount Global, Paramount, Sony, Skydance Media, Western Alliance
But Dorsey said Twitter had been weighed down by its revenue model. Twitter chose brand advertising as its main source of income, a "core, critical sin" that exposed the platform's moderation to the whims of corporations effectively financing the social-media platform, Dorsey said. Building a different business modelTo many, Musk seemed to be axing Twitter's entire business model. "Twitter was a $5 billion a year business," Dorsey said. AdvertisementDorsey's comments come as he quit Bluesky, a platform he helped build after leaving Twitter, and told users to use Musk's X instead.
Persons: , Jack Dorsey, Dorsey, Mike Solana, Twitter, Solana, Apple, Musk, Elon, Bluesky, Edward Snowden, Julian Assange, he's, Musk's Organizations: Service, Twitter, Fund, Business, Unilever, SpaceX, Disney, IBM
Calling AI profound, Buffet said that the technology is like a "genie" — once it gets let out of the bottle, it could have disastrous effects. It's a question, he said, that has riddled the best economists for a century. Warren Buffett is the first to admit he doesn't know much about artificial intelligence. This rebound has led to questions from corporate executives about factors that could be at play, from AI to return-to-office mandates. "Every company is looking at AI and deciding where it will help them," he said during a recent interview on CNBC's "Money Movers."
Persons: Buffett, Buffet, Warren Buffett, it's, couldn't, John Maynard Keynes, Keynes, Gary Cohn, Cohn, Dev Ittycheria, Elon Musk, Mark Zuckerberg, Sam Altman, Robert Solow, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Berkshire, IBM, National Economic, CNBC, Nvidia, McKinsey, Harvard Business Locations: Omaha, Berkshire
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIBM CEO Arvind Krishna on revenue miss, consulting business and HashiCorp acquisitionIBM CEO Arvind Krishna joins 'Money Movers' to discuss the company's revenue miss, company outlook, and consulting business.
Persons: Arvind Krishna
Every HR professional and hiring manager I spoke with — whose lives are supposedly made easier by Workday — described Workday with a sense of cosmic exasperation. "Workday does not have oversight or control of our customers' job application processes.") If candidates hate Workday, if employees hate Workday, if HR people and managers processing and assessing those candidates and employees through Workday hate Workday — if Workday is the most annoying part of so many workers' workdays — how is Workday everywhere? (Workday's "customers choose the frequency at which they conduct reviews, not Workday," said the spokesperson.) "HR software sucking" is a big tent.
Persons: you'd, Workday's, , David Duffield, Teladoc, UKG, Cory Doctorow, It's, He'd, Matt Alston's, Stone Organizations: Fortune, Netflix, Goodwill, Spotify, Washington Post, Ohio State University, FedEx, Nintendo, Honda, LinkedIn, IBM, Oracle, Bank of America, Automation, Rippling, Systems, Facebook, Wired Locations: San Francisco, Amazon's, It's, Bonusly, Maine
Shruti Gandhi has a simple rule for meeting founders: She only takes the meeting if she wants to invest. Being the solo general partner of her firm, the early-stage outfit Array Ventures, also means she can get deals done quickly. Over the past five years, she's returned most of her maiden $7 million fund to limited partners at a net multiple of almost four. For founders, by foundersThe founders Gandhi has backed like working with her because of her technical chops and hands-on approach. We will back you if you raise a fund,'" Gandhi said.
Persons: Shruti Gandhi, Gandhi, Nikhil Teja Kolli, Kolli, she's, wasn't, Dumbledore, Harry Potter, Champ Bennett, Zimperium's Zuk Avraham, Mehul Nariyawala, Google —, Doktor Gurson, Gurson Organizations: Ventures, Business, PayPal, IBM, Columbia University, True Ventures, Samsung, Google, University of Chicago Booth School of Business, Rad Locations: India, Poughkeepsie , New York, She's
I help my clients get rid of things they don't need or use anymore. AdvertisementAs a professional declutterer, I work with clients, helping them get rid of things they don't want, need, or have too many of. Pull them all out, see what's useful and what isn't, and ditch the things you're unlikely to use. If you're convinced you need them all, try this: put half in a box and hide it away for a few months. Happily, you can fill them with all the other stuff you're getting rid of.
Persons: , you've Organizations: Service, IBM
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