DIRS.INFO The most relevant business & tech news

☆ Elon Musk has a weak case against advertisers — but he's playing the long game
▼ + stars: | 2024-08-08 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +9 min

Read previewOn Tuesday, Elon Musk's X fulfilled his promise to sue advertisers over their boycotting of the platform. GARM creates frameworks to provide common definitions around areas like hate speech and misinformation; it's voluntary whether advertisers use them. It doesn't rank platforms on these issues, and its role isn't to advise advertisers on where to spend their dollars. US advertisers are also protected by the First Amendment to spend or not spend on whichever media platforms they please. If the X suit moves into the discovery phase, there could be a whole lot more.

Persons: —, Elon Musk's X, X, Ørsted, Musk, Ruben Schreurs, Ørsted didn't, GARM, Jim Jordan, colluded, WPP's GroupM, Rob Rakowitz, Rumble, Jamie Barnard, Jim Jordan of Ohio, Win McNamee, Jordan, Brian Wieser, Wieser Organizations: Service, Federation, Global Alliance of Responsible Media, Twitter, Unilever, Mars, CVS, Business, WFA, Republican, Procter, Gamble, WPP's, Committee, Verizon, Chanel, PepsiCo, WPP, Media, Madison Locations: Texas, Ohio

☆ The New A.I. Deal: Buy Everything but the Company
▼ + stars: | 2024-08-08 | by ( Erin Griffith | Cade Metz | ) www.nytimes.com time to read: +1 min

Last week, Mr. Shazeer and Mr. De Freitas announced that they were returning to Google. research arm, along with roughly 20 percent of Character.AI’s employees, and provide their start-up’s technology, they said. Instead, Google agreed to pay $3 billion to license the technology, two people with knowledge of the deal said. About $2.5 billion of that sum will then be used to buy out Character.AI’s shareholders, including Mr. Shazeer, who owns 30 percent to 40 percent of the company and stands to net $750 million to $1 billion, the people said. While big tech companies typically buy start-ups outright, they have turned to a more complicated deal structure for young A.I.

Persons: Noam Shazeer, Daniel De Freitas, Shazeer, De Freitas, Character.AI Organizations: Google Locations: Silicon Valley

☆ Middle East wealth funds are scrambling to rescue their big bets on the future
▼ + stars: | 2024-08-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A particular focus for these funds built on the back of petrodollars has been to build ownership and influence in the tech sector. FETHI BELAIDOver the past week, PIF and Mubadala have been busy figuring out what to do when their unbridled ambitions for tech companies face reality. Reports from the Financial Times and Bloomberg have shone a light on efforts being made by the sovereign wealth fund to boost returns in European startups in which it has invested billions of dollars. AdvertisementSeveral of these nascent tech companies, such as the insurance firm WeFox, have been bruised by shifting sentiment in the markets in recent years.

Persons: —, Abu Dhabi's Mubadala, SoftBank's, ByteDance, Prince Mohammed bin Salman, Peter Rawlinson, Lucid, John Keeble, Rawlinson, PIF, it's, Mubadala Organizations: Service, Saudi, Public Investment Fund, Business, PIF, Financial Times, Bloomberg Locations: Middle, petrodollars, Saudi, California

☆ Banks face tough new security standards in the EU — their tech suppliers are under scrutiny, too
▼ + stars: | 2024-08-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

DORA requires banks, insurance companies and investment to strengthen their IT security. The EU regulation also seeks to ensure the financial services industry is resilient in the event of a severe disruption to operations. These IT providers often deliver "critical digital services to customers," said Joe Vaccaro, general manager of Cisco-owned internet quality monitoring firm ThousandEyes. This has made banks and other financial services providers more vulnerable to cyberattacks and other incidents. DORA will focus more on banks' digital supply chain — which represents a new, potentially less comfortable legal dynamic for financial firms.

Persons: DORA, DORA —, Charles Schwab —, Mike Sleightholme, Joe Vaccaro, Banks, Vaccaro, Sleightholme, it's, Carl Leonard, Leonard, Stephen McDermid, Okta, Fredrik Forslund, Blancco, there's, Forslund Organizations: Getty, Financial, European Union, CNBC, JPMorgan Chase, Santander, Visa, Broadridge, Cisco, EU, Data Locations: European, EU, DORA, noncompliance

☆ A 68-year-old cofounded a biotech business instead of retiring. He's not getting paid for his work but values staying 'mentally engaged.'
▼ + stars: | 2024-08-08 | by ( John Towfighi | ) www.businessinsider.com time to read: +5 min

Two years ago, when he was 68, that opportunity arose: McCaman cofounded Orion Therapeutics, a small company developing new ways for RNA medicine to reach specific areas of the human body. AdvertisementMcCaman, now 70, is the vice president and chief strategy officer at Orion Therapeutics. McCaman is passionate about staying engaged with his interests and said remote work has enabled him to extend his career. McCaman and Fischer launched Orion with Deidra Mountain, a University of Tennessee professor, and Jennifer Zachry, a graduate student. Are you a baby boomer who founded a small business?

Persons: —, Michael McCaman, McCaman, It's, Davis, Intellia, Trey Fischer, Fischer, Jennifer Zachry, there's, John Deere Organizations: Service, Orion Therapeutics, Business, University of California San, University of California, Intellia Therapeutics, University of Tennessee, Orion, University of Tennessee Research Foundation, Launch Locations: Frederick , Maryland, Knoxville , Tennessee, University of California San Diego, California, Lonza, Maryland, Launch Tennessee

☆ Delta lashes out at CrowdStrike for its ‘vastly inadequate’ apology
▼ + stars: | 2024-08-08 | by ( David Goldman | ) edition.cnn.com time to read: +4 min

Boies, hired to lead Delta’s lawsuit against CrowdStrike, said the tech company was “grossly negligent” and was solely responsible for the outage. But Boies called Delta’s IT systems “world class” and claimed Delta’s outage lasted longer because it was so heavily reliant on CrowdStrike and Microsoft. He also disputed the companies’ claims that Delta turned down help and worked around the clock to bring Delta back online. “CrowdStrike also did not work “tirelessly” to help Delta restore its systems,” Boies said. CrowdStrike said Delta ignored its help, and Microsoft said Delta’s mismanagement contributed to the cancellations.

Persons: Delta’s, David Boies, CrowdStrike, Delta, Boies, ’ ”, misstatements, ”, ” Boies, “ CrowdStrike, “, “ CrowdStrike’s, George Kurtz, David DeWalt, DeWalt, Ed Bastian, ” Bastian Organizations: CNN, ” Delta, Microsoft, Delta, LinkedIn, CNBC, “, US Department of Transportation Locations: Delta

☆ OpenAI worries people may become emotionally reliant on its new ChatGPT voice mode
▼ + stars: | 2024-08-08 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —OpenAI is worried that people might start to rely on ChatGPT too much for companionship, potentially leading to “dependence,” because of its new human-sounding voice mode. ChatGPT’s advanced voice mode sounds remarkably lifelike. Now, OpenAI is apparently concerned that fictional story is a little too close to becoming reality, after it says it observed users talking to ChatGPT’s voice mode in language “expressing shared bonds” with the tool. Some people are already forming what they describe as romantic relationships with AI chatbots, prompting concern from relationship experts. For now, OpenAI says it’s committed to building AI “safely,” and plans to continue studying the potential for “emotional reliance” by users on its tools.

Persons: New York CNN — OpenAI, ”, “, Liesel, ” OpenAI, what’s, OpenAI, it’s Organizations: New, New York CNN, Arizona State University, CNN Locations: New York, OpenAI

☆ In an oversaturated market for AI companies, these startups have the best shot at surviving
▼ + stars: | 2024-08-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Investors highlighted their portfolio companies and startups they had no financial ties to. Leena Rao, who oversaw the list and leads BI's VCs and startups team, estimated about 80% of the startups included are focused on AI. AdvertisementiStock; BIAs differentiated as AI startups try to be, the market has undeniably become oversaturated. Big Tech reform is coming, but Washington won't be the one doing it. Congress can't or won't act, so people who want Big Tech companies to change their ways are trying to do it through the courts .

Persons: —, Kamala Harris, Tim Walz, Here's, Kimberly White, Chelsea Jia Feng, Leena Rao, BI's, That's, It's, Arindam Sandilya, Paul Dietrick, Oppenheimer, John Stoltzfus, Jenny Chang, Rodriguez, Adam Mosher, Mosher, YouTube's, Jimmy Donaldson, Alyssa Powell, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Boldstart Ventures, TechCrunch, Healthcare, Getty, JPMorgan, FX, UBS, BI Prosecutors, Big Tech Locations: Minnesota, we're, Washington, New York, London

Harris expected to announce her VP pickBy the end of the day, the world will know who Kamala Harris’ 2024 running mate will be. This is Morning Rundown, a weekday newsletter to start your day. Simone Biles won the silver medal in the floor exercise, bringing her final Paris medal count to four: three golds and one silver. Google’s antitrust loss is a win for internet regulatorsIn a massive antitrust lawsuit ruling, a federal judge found that Google has an illegal monopoly on search engines and text advertisements. Despite some posts and influencers recommending close to 100 grams of protein per day, experts say the answer is far less.

Persons: Kamala Harris, Harris, Kamala Harris ’, Josh Shapiro, Sen, Mark Kelly of, Tim Walz —, JB Pritzker, Andy Beshear, Pete Buttigieg, Joe Biden, Donald Trump, Read, Simone Biles, Suni Lee, Biles, Jordan Chiles, Brazil’s Rebeca Andrade, Chiles, Andrade, Elsa, Gabby Thomas, McKenzie Long, Brittany Brown, Noah Lyles, Spain’s, Peacock, Debby, Biden, TikTok, dietitians, Cori Bush, Dan Newhouse, Trump, Clarence Thomas, Domenick Fini, he’s, — Melissa Chan, Elizabeth Robinson Organizations: Google, Pennsylvania, Minnesota Gov, Illinois Gov, Kentucky Gov, Paris, National Hurricane Center, U.S, Asad Air Base, NBC News, White, Republican, NBC, An Army, CDC, WHO, Marion County Record Locations: U.S, Philadelphia, Mark Kelly of Arizona, Minnesota, Kentucky, Paris, Los Angeles, ’, Spain, France, Morocco, Egypt, Tropical, Georgia, Florida, United States, South Carolina, North Carolina, Gainesville , Florida, Mississippi, Florida , Georgia, Iraq, Jordan, Israel, Lebanon, Iran, Missouri, Kansas , Michigan , Missouri, Washington, Kansas, Virginia

☆ Los Angeles 2028 Olympics confirms Autodesk as partner as it presses toward $2.5 billion sponsorship target
▼ + stars: | 2024-08-06 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +1 min

Autodesk partners with the 2028 Los Angeles Olympics, boosting sponsorship revenue goals. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementDesign and engineering software company Autodesk has become a supporting partner of the 2028 Los Angeles Olympics, in a major boost for the Games' goal of $2.5 billion in domestic sponsorship. Autodesk was named the "official design and make platform of the LA28 Olympics and Paralympic Games and Team USA," the company announced Tuesday.

Persons: —, It's Organizations: Autodesk, Angeles, LA28, Service, Angeles Olympics, Games, Paralympic Games, Team USA, Business Locations: Las Vegas

☆ Big Tech reform is coming from the courts, not Congress. Is that good?
▼ + stars: | 2024-08-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

The US government won a major Big Tech antitrust battle this week, against Google. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . So people who want Big Tech companies to change their ways are trying to do it via the courts.

Persons: —, It's Organizations: US, Big Tech, Google, Washington, Service

☆ CNET Sold to Ziff Davis in Sign of Possible Media Deals to Come
▼ + stars: | 2024-08-06 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Mr. Shah led a buyout of Ziff Davis, a century-old magazine publisher whose titles chronicled the early tech boom, in 2010. The company was then acquired by J2 Global, which Mr. Shah eventually split into two pieces. One company, Ziff Davis, kept well-known publishing brands like Mashable, and the other kept a fax provider called eFax. But Mr. Shah said that he believed additional deals like the one for CNET would increase its profits. Mr. Shah said he decided to acquire CNET partly because it is well-known industry brand, and its sizable audience will give Ziff Davis greater clout with advertisers looking to reach tech consumers.

Persons: Shah, Ziff Davis, Ziff Davis’s Organizations: J2 Global, Mashable, CNET, CBS, Red Ventures

☆ I resigned from Tesla after nearly 8 years. I lost confidence in Elon Musk's vision for the company.
▼ + stars: | 2024-08-06 | by ( Grace Kay | ) www.businessinsider.com time to read: +7 min

This as-told-to essay is based on a conversation with a former Tesla employee who resigned from the company earlier this year and spoke anonymously to protect their privacy. The following year Tesla and SolarCity came to my city and I started in sales at SolarCity. When Tesla acquired SolarCity in 2016, I began working in sales for Tesla Energy. For example, I was on the sales team when Musk announced he only wanted to do online sales. The 2021 Model S and Model X refreshes were designed to make them look the same as the old models.

Persons: Tesla, SolarCity, Elon Musk, I've, Musk, There's, Justin Sullivan, I'd, I'm, — Organizations: Service, Tesla, Falcon, SolarCity, Tesla Energy, Twitter, Business

☆ Here are Tuesday's biggest analyst calls: Nvidia, Apple, Micron, Amazon, Apollo Global & more
▼ + stars: | 2024-08-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Tuesday's biggest calls on Wall Street: Stifel initiates GE Healthcare as buy Stifel said it's bullish on shares of the GE spin-off. Rosenblatt reiterates Nvidia as buy Rosenblatt said concerns about delays in the company's Blackwell chip are overdone. " JPMorgan downgrades Carlyle Group to neutral from overweight JPMorgan said it sees better value elsewhere. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Monday's DOJ ruling on Alphabet is a negative for Apple. JPMorgan upgrades Sonic Automotive to overweight from neutral JPMorgan said investors should buy the dip in the auto company.

Persons: Stifel, it's, Morgan Stanley, Rosenblatt, Blackwell, JPMorgan, Carlyle, Piper Sandler, Piper, Palantir, KeyBanc, D.A, Davidson, Apple, GOOGL, SAH, underperform Macquarie Organizations: GE Healthcare, GE, Taiwan Semiconductor, JPMorgan, Barclays, Nvidia, Blackwell, Royal, JPMorgan downgrades Carlyle Group, Bank of America, Artificial Intelligence, Micron, Apollo, of America, Apollo Global Management, APO, Meta, Retail Media, DOJ, Apple, Aspen, Sonic Automotive, SS, UBS, Walmart, Northland, Honest, Honest Company, Macquarie, underperform Locations: Royal Caribbean, GOOGL, EVs, China

☆ Why Are Silicon Valley Therapists Becoming Tech Coaches?
▼ + stars: | 2024-08-06 | by ( Daniel Duane | ) www.nytimes.com time to read: +1 min

Carnochan has been my therapist for over a decade, a privilege for which I am grateful on two accounts. First, the surging national demand for therapy has so outstripped supply that it can be hard to find a good therapist anywhere, but especially in San Francisco. Second, working with Carnochan has been so healing that I have come to see psychotherapy as a beautiful profession and Carnochan as its beau idéal — deeply learned, emotionally present and capable of moving in a single conversation from D. W. Winnicott’s theory of the false self to Otis Redding’s “(Sittin’ on) the Dock of the Bay,” from infinity in the Lotus Sutra to the ecstasies of backcountry skiing. I knew Carnochan did some other form of talking to people one on one — coaching, that is — because I once told him that I worried about money and career. Carnochan responded by mentioning that he sometimes helped company executives on professional matters and could work with me in the same spirit.

Persons: Carnochan, —, Otis Redding’s “ Locations: San Francisco .

☆ Everything you wanted to know about the market meltdown but were too afraid to ask
▼ + stars: | 2024-08-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, we're giving a full breakdown of what has been a wild few days for the market . Tech: Big Tech is going through a bit of a mid-life crisis . Big Tech is going through a bit of a . There are a few factors at play here:Big Tech, the backbone of the market, had weaker-than-expected earnings last week. The decision could seriously hurt Google's revenue and may signal more antitrust enforcement to come for other Big Tech companies .

Persons: —, Airbnb, Rebecca Zisser, We're, what's, Warren Buffett's, Berkshire Hathaway, I'm, Claudia Sahm, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Citadel's Ken Griffin, Griffin, it's, Natalie Ammari, That's, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Tech, Big Tech, Nasdaq, Federal Reserve, Apple, Oracle, Fed, Nvidia, Bank of America, Google Locations: Japan, Berkshire, Omaha, Asia, bitcoin, Florida, New York, London

☆ I got laid off at 65 and couldn't afford my Bay Area mortgage. Now, I work for myself while traveling the world.
▼ + stars: | 2024-08-06 | by ( Tony Woodall | ) www.businessinsider.com time to read: +6 min

Read previewI began my career in the financial services industry in 1985 in the warehouse at Fannie Mae Software Systems. I moved to the Bay Area and began my subsequent career in financial services. We couldn't recover before the Federal Reserve took us into receivership, making us the second-largest bank failure in history. The biggest problem was my homeWithout a full-time job, I could no longer afford the mortgage on my home in the Bay Area. Tony WoodallAfter Portugal, I joined friends in Medellín, Colombia, an inexpensive haven for digital nomads.

Persons: —, Tony Woodall, Woodall, you'll, I'm, I've Organizations: Service, Fannie Mae Software Systems, Business, realtors, Bank, LinkedIn, Bay Area, First Republic, Federal Reserve, Social Security Locations: Fannie, Atlanta, San Francisco, Bay, Silicon, California, Camino de Santiago, Spain, Portugal, Portuguese, Colombia, Medellín, Germany

☆ Google loses search antitrust suit
▼ + stars: | 2024-08-06 | 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 EmailGoogle loses search antitrust suitCNBC's Deirdre Bosa joins 'Money Movers' to discuss the latest developments happening in big tech companies Google, Apple, and more.

Persons: Deirdre Bosa Organizations: Google, Apple

☆ How the Google Antitrust Ruling May Influence Tech Competition
▼ + stars: | 2024-08-06 | by ( Steve Lohr | ) www.nytimes.com time to read: +1 min

In 2000, a ruling in a U.S. antitrust case against Microsoft helped set the rules of competition for the digital giant of its day. At the time, a federal judge said Microsoft had abused the monopoly power of its Windows operating system and ordered that the company be split up. More than two decades later, a ruling in a Google antitrust case similarly promises to shape new rules for the tech industry. Judge Amit P. Mehta of U.S. District Court for the District of Columbia found on Monday that Google had violated antitrust laws by stifling rivals in internet search to protect its monopoly. The Google ruling, and potential remedies to be decided by Judge Mehta, are likely to weigh heavily on those cases, including a second lawsuit against Google over ad technology, which is scheduled to go to trial next month.

Persons: Judge Amit P, Mehta, Apple, Judge Mehta Organizations: Microsoft, U.S, District of Columbia, Google Locations: U.S

☆ Tech had a rough day. But don’t call it a dot-com meltdown moment yet
▼ + stars: | 2024-08-06 | by ( Clare Duffy | ) edition.cnn.com time to read: +6 min

On Monday afternoon, a federal judge ruled that Google violated US antitrust law with its search business. And despite yesterday’s decline, which already appears to have begun reversing, shares of Apple, Amazon, Microsoft, Meta, Google and Nvidia all remain up strongly year-to-date. Anything that threatens its market share could also put that core business — already facing competitive threats from emerging AI tools — at risk. It could also embolden lawmakers who have been looking to crack down further on the power of Big Tech. “This ruling will inspire short-term confidence for DuckDuckGo, Yahoo and other Google Search competitors.

Persons: New York CNN — It’s, “, Charlie Miner, ” Miner, Angelo Zino, ” Zino, they’re, it’s, ” Sen, Amy Klobuchar, ” Organizations: New, New York CNN, P Global, Investors, Google, US Federal Reserve, Big Tech, CNN, Research, Apple, Microsoft, Meta, Amazon, Nvidia, Tech, Yahoo Locations: New York, Google’s

☆ Stocks making the biggest moves midday: Kenvue, Caterpillar, Uber, CrowdStrike and more
▼ + stars: | 2024-08-06 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Check out the companies making the biggest moves midday: Kenvue — The maker of Band-Aid bandages rallied 14% after beating analysts' estimates for its second quarter. Kenvue, which spun off from Johnson & Johnson last year, posted adjusted earnings of 32 cents per share, versus the 28 cents expected from analysts polled by FactSet. Palantir now anticipates revenue between $2.742 billion and $2.750 billion, up from its previous guidance of $2.68 billion to $2.69 billion. Caterpillar's adjusted earnings totaled $5.99 per share in the second quarter, beating the $5.55 per share estimate from analysts polled by FactSet. CrowdStrike — Shares rose 3% after Piper Sandler upgraded CrowdStrike to overweight from neutral, saying the dip in the cybersecurity stock following the global tech outage is a buying opportunity.

Persons: Johnson, FactSet, Taco Bell, ZoomInfo, LSEG, Lucid, BioMarin, CrowdStrike, Piper Sandler, —, Sarah Min, Sean Conlon, Yun Li, Jesse Pound Organizations: Johnson, FactSet, Revenue, Caterpillar, Lumen Technologies, Molson Coors Beverage —, Technologies, LSEG, Taco, CSX —, CSX, BioMarin Pharmaceutical Locations: China, Shanghai

☆ Microsoft lashes out at Delta: Your ancient tech caused the service meltdown
▼ + stars: | 2024-08-06 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +6 min

Microsoft also claimed Delta turned down help after the CrowdStrike bug led to “blue screens of death” on Windows devices. Microsoft, CrowdStrike and Delta have been in a war of words since the airline hired a high-profile attorney to seek compensation from Microsoft and CrowdStrike. Delta CEO Ed Bastian lashed out at CrowdStrike in a CNBC interview last week and said the computer problems cost Delta $500 million. While other airlines were quick to resume normal operations after the CrowdStrike outage, Delta was forced to cancel about 30% of its schedule over those five days, leaving an estimated half-million passengers stranded. Free consulting advice to help us,” said the Delta CEO in an interview on CNBC.

Persons: cancelations, Delta, Ed Bastian, CrowdStrike, Mark Cheffo, “, ”, Satya Nadella, Bastian, you’ve, ” Bastian, David Boies, George Kurtz, Michael Carlinsky, —, CNN’s Chris Isidore Organizations: New, New York CNN, Microsoft, Delta Air Lines, CNBC, Delta, IBM, CNN, CrowdStrike Locations: New York, CrowdStrike, Delta

☆ Tech's Divorced Dad Energy: Silicon Valley Is Letting Down Customers
▼ + stars: | 2024-08-06 | by ( Ed Zitron | ) www.businessinsider.com time to read: +15 min

Big Tech companies became less known for one particular product. Instead, Big Tech became obsessed with a series of half-baked boondoggles that seemed revolutionary, yet in practice, were either not reliable enough to be trusted or simply not that useful. Big Tech has become sullen, entitled, and lazy, believing that nobody else could snatch away its precious customers. Related storiesEven when tech companies aren't trying to shove AI down our throats, they fall into a similar trap. AdvertisementWhen the public eventually walks out, I don't believe Big Tech is even capable of making the adjustments necessary to win them back.

Persons: Smart, surly, Apple, Meta, Tesla, Elon Musk, Musk, —, Goldman Sachs, Jim Covello, Sundar Pichai, it's, Tech's, Satya Nadella Organizations: Google, Microsoft, Apple, Big Tech, Siri, Amazon, Meta, Tech, Facebook, cryptocurrency, Porsche, Microsoft Windows Locations: America

☆ Chief money managers are using the stock-market carnage to funnel into key sectors. Here's what they're buying.
▼ + stars: | 2024-08-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Thursday brought more negative news from the jobs market: unemployment insurance claims for the week ending July 27 were up by 14,000 from the previous week to 249,000. Stepping back from last week's weak data, chief investment officers and top strategists say the market is overreacting, and they're using this as a buying opportunity. Related storiesSimilarly, the manufacturing data is not as foreshadowing as it seems on the surface. "But the ISM manufacturing data can be a leading indicator of S&P earnings, particularly the new order number." "If you look at non-US stocks and you look at their valuations, they're trading at about 13 times earnings," Calcagni said.

Persons: Dow, we've, Philip Straehl, Morningstar, Goldman Sachs, Jan Hatzius, Alicia Levine, Levine, it's, what's, Morningstar's Straehl, Simeon Hyman, Hyman, Donald Calcagni's, Calcagni Organizations: Service, Nasdaq, Institute for Supply, Business, BNY, Big Tech, Mercer Advisors Locations: Americas

☆ Tuesday's analyst calls: Taiwan Semiconductor a buying opportunity, CrowdStrike upgraded
▼ + stars: | 2024-08-06 | by ( Fred Imbert | ) www.cnbc.com time to read: +6 min

He increased his price target by $25 to $575, which suggests shares can jump about 20.9% over the next year. Rollins upgraded the stock to neutral from sell and upped his price target from $1.25 to $3.15 per share, which implies roughly 21.6% potential upside. Analyst Rick Wise initiated coverage of GE Healthcare with a buy rating and $100 price target, which suggests 22.7% upside. Analyst Rob Owens upgraded the global cybersecurity company to overweight from neutral and lowered his price target by $20 to $290, which implies 30.6% upside. Its price target of 1,200 Taiwanese dollars implies upside of 36.4%.

Persons: Morgan Stanley, Piper Sandler, Rob Sanderson, Sanderson, — Pia Singh, Michael Rollins, Rollins, Lumen, Rick Wise, Wise, CrowdStrike, Rob Owens, Owens, pare, Price, Charlie Chan, Chan, Fred Imbert Organizations: CNBC, Taiwan Semiconductor, Meta, Citi, Lumen Technologies, GE Healthcare, Delta Air Lines, Microsoft Locations: U.S

Search resuls for: "Tech Co"

25 mentions found