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☆ A breakup of Google would impact the company more than its users: Heroic Ventures’ Michael Fertik
▼ + stars: | 2024-10-09 | 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 EmailA breakup of Google would impact the company more than its users: Heroic Ventures’ Michael FertikMichael Fertik, Heroic Ventures founder and managing partner, joins 'Squawk Box' to discuss news of the DOJ considering a possible breakup of Google as an antitrust remedy following the court's monopoly ruling, impact of a potential breakup on the company and the public, and more.

Persons: Michael Fertik Michael Fertik Organizations: Google, Heroic Ventures, DOJ

☆ US government considers a breakup of Google
▼ + stars: | 2024-10-09 | by ( Clare Duffy | Brian Fung | ) edition.cnn.com time to read: +3 min

The US Department of Justice in a court filing Tuesday night said it may recommend dismantling Google’s core businesses, separating Google’s search business from Android, Chrome and the Google Play app store. “That would prevent Google from using products such as Chrome, Play, and Android to advantage Google search and Google search-related products and features — including emerging search access points and features, such as artificial intelligence — over rivals or new entrants,” the government said in its court filing. The case had been described as the biggest tech antitrust case since the US government’s antitrust showdown with Microsoft at the turn of the millennium. Whatever ultimately happens to Google could set the stage for potential remedies in other, ongoing antitrust cases against tech giants. Google faces a separate case brought by DOJ attorneys, along with 17 states, who allege that its advertising business is anticompetitive.

Persons: ”, Amit Mehta, ” Kent Walker Organizations: CNN, Baby, Google, US Department of Justice, Android, Apple, Microsoft, DOJ, Meta, Ticketmaster

☆ Diddy to accuse DOJ of grand jury 'leaks' in sex-trafficking case
▼ + stars: | 2024-10-09 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

The issue may be argued at Combs' next court date, scheduled for Thursday in Manhattan. Combs will seek "a hearing and other remedies" from what he calls prejudicial grand jury leaks. AdvertisementLawyers for Sean "Diddy" Combs alleged Wednesday that unauthorized grand jury leaks have prejudiced his sex-trafficking case. The two-page letter says Combs will ask on Thursday that a trial date be set in April or May 2025. Wednesday's letter also alerts the judge that the parties intend to discuss on Thursday what federal prosecutors called the "voluminous" evidence in the case.

Persons: Combs, —, Sean, Diddy, Marc Agnifilo, Teny Geragos, Arun Subramanian, Subramanian Organizations: Service, US Locations: Manhattan, Brooklyn, Miami

☆ Judge's ruling against Google in Epic Games case highlights a shift in antitrust law
▼ + stars: | 2024-10-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +6 min

A law professor said the ruling shows how antitrust law is used against Big Tech companies. Management and law experts told Business Insider the ruling highlights how antitrust law is being used against Big Tech companies — and could cost Google billions of dollars in lost revenue. Historically, he said, liberal judges tended to favor antitrust law more than conservative ones. When Epic Games' case against Apple was similarly appealed, the Supreme Court denied requests to hear it, leaving Apple with its partial victory. AdvertisementRepresentatives for Epic Games directed Business Insider to a public thread about the Google ruling, posted on X by the company's CEO, Tim Sweeney.

Persons: —, James Donato's, Peter Cohan, Cohan, Apple, Yvonne Gonzalez Rogers, Eric Chaffee, Chaffee, Alden Abbott, Abbott, Tim Sweeney, Sweeney Organizations: Google, Apple, Big Tech, Service, Management, Epic Games, Northern, Northern District of, Babson College, Case Western Reserve University School of Law, Epic, DOJ, Business, Mercatus Center Locations: California, Northern District, Northern District of California, United States

☆ Jim Cramer criticizes DOJ's stance on Google and possible breakup
▼ + stars: | 2024-10-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Wednesday disagreed with the Department of Justice's move to consider a possible breakup of Google , asserting that the company benefits consumers, businesses and the U.S."Google's an aggressive company. But I defy you to find any regular people in this country who think of Google as a bad actor," he said. "Google search is the most incredible bargain in the world, and the same goes for YouTube." Cramer also questioned the DOJ's antitrust lawsuit against Apple and the Federal Trade Commission's case that Amazon illegally wields monopoly power. Google declined to comment, and the Department of Justice did not immediately respond to a request for comment.

Persons: CNBC's Jim Cramer, Cramer Organizations: Department of, Google, YouTube, DOJ, Apple, Federal Trade, Big Tech, Department of Justice

☆ The DOJ is considering asking judge to break up Google
▼ + stars: | 2024-10-09 | by ( Jordan Hart | Kelsey Vlamis | ) www.businessinsider.com time to read: +4 min

Prosecutors proposed remedies after Google antitrust violation ruling by a federal judge. Judge Amit Mehta previously ruled Google violated antitrust laws by securing default search deals. AdvertisementProsecutors said they're considering a requirement that Google share the data that powers a big chunk of its business — the inputs and models for Google search and search results — through an application programming interface. Another proposal would prevent the company from using its other products, such as Chrome and Android, to promote Google search over competitors. Google previously said that the company plans to appeal the ruling, which could delay the judge from imposing any remedies filed by the prosecution.

Persons: Amit Mehta, —, Prosecutors, doled, Evelyn Mitchell, Wolf, Mehta, Dan Ives Organizations: Service, Google, Big Tech, Apple, Prosecutors, Companies, Microsoft, Wedbush Securities, Department of Justice

☆ Jim Cramer says Google would be 'a shell of its former self' if DOJ forces a breakup
▼ + stars: | 2024-10-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +3 min

CNBC's Jim Cramer on Wednesday criticized the Department of Justice's potential remedies in the Google search-monopoly case, arguing that, if they were implemented, the California tech giant would be "a shell of its former self." In early August, Judge Amit Mehta ruled that Google used illegal practices to maintain a monopoly in the internet search market. "This is devastating," Cramer said Wednesday on "Squawk on the Street," reacting to the DOJ filing. The stock has lagged the S & P 500 considerably since the monopoly ruling was handed down Aug. 5. Including Wednesday's intraday move, shares are down more than 3.5% compared with a nearly 8% gain for the S & P 500.

Persons: CNBC's Jim Cramer, Amit Mehta, Cramer, Lee, Anne Mulholland, It's Organizations: of, Google, U.S ., Trust, CNBC, Justice Department, Wall, Greyhound, Club Locations: California, U.S

☆ Jim Cramer gauges how the DOJ's antitrust suit could impact Google stock and the market
▼ + stars: | 2024-10-09 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer gauges how the DOJ's antitrust suit could impact Google stock and the market'Mad Money' host Jim Cramer looks at regulatory headwinds facing the market.

Persons: Jim Cramer

☆ DOJ indicates it’s considering Google breakup following monopoly ruling
▼ + stars: | 2024-10-08 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

REUTERS/Ken CedenoThe U.S. Department of Justice late Tuesday made recommendations for Google's search engine business practices, indicating that it was considering a possible breakup of the tech giant as an antitrust remedy. The DOJ also said it was "considering behavioral and structural remedies that would prevent Google from using products such as Chrome, Play, and Android to advantage Google search and Google search-related products and features — including emerging search access points and features, such as artificial intelligence — over rivals or new entrants." Kent Walker, Google's president of global affairs, said the company plans to appeal the ruling and highlighted the court's emphasis on the high quality of Google's search products, which the judge also noted in his ruling. In the second quarter, "Google Search & Other" accounted for $48.5 billion in revenue, or 57% of Alphabet's total revenue. The company holds 90% of search market share.

Persons: Jonathan Kanter, General Merrick Garland, Lisa O, Ken Cedeno, Sherman, Kent Walker, Judge Mehta Organizations: Live Nation Entertainment, Monaco, Department of Justice, REUTERS, U.S . Department of Justice, DOJ, Google, Apple, & $ Locations: Washington , U.S, U.S

☆ Deloitte feels the wrath of Trump world over leaked JD Vance messages
▼ + stars: | 2024-10-08 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

CNN —Trump allies are calling for the federal government to punish Deloitte after an employee at the consulting firm apparently shared his private messages with JD Vance. The Post did not reveal who corresponded with Vance, now Trump’s running mate, and leaked those communications. “Maybe it’s time for the GOP to end Deloitte’s taxpayer funded gravy train?” Trump Jr. wrote on X, noting that Deloitte receives billions of dollars in government contracts. Trump Jr. told CNN he was speaking his mind as a private citizen. Neither Trump nor Vance have publicly threatened Deloitte, and it’s worth noting that Trump Jr. has indicated he does not plan to serve in the federal government.

Persons: CNN —, JD Vance, Donald Trump, Trump, Vance, Donald Trump Jr, ” Trump, Jason Miller, Trump Jr, “, ”, Kamala Harris, ” “, GOP Sen, Eric Schmitt, he’s, ” Jeffrey Sonnenfeld, John Deere, Davidson, ” “ Donald Trump, ” Richard Painter, George W, Bush, ” Painter, Painter, MAGA, Jonathan Gandal, Yale’s, ” Norman Eisen, it’s, ” Eisen Organizations: CNN, CNN — Trump, Deloitte, Washington Post, GOP, Trump, Department of Defense, Internal Revenue Service, Department of Homeland Security, Trump Jr, White, Yale, Leadership, Department, Google, Apple, Harley, US Postal Service, Motors, University of Minnesota, ”, ” Trump Jr, Post, Wall Street, ” “ Deloitte, “ Deloitte, Brookings Institution, DOJ

☆ A couple took 31 trips to Orlando and vacationed at Walt Disney World using government funds, prosecutors say
▼ + stars: | 2024-10-06 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +3 min

They took 31 trips to Orlando, where they "spent time at the pool and Disney parks," the DOJ said. AdvertisementAn Army contractor and his girlfriend used government funds to finance personal vacations across the country, including 31 trips to Orlando, federal prosecutors say. A federal judge sentenced Chantelle Boyd, 53, on October 2 to six months of home confinement and two years of supervised release. A judge sentenced Bouchard in August to 12 months and one day in prison, then one year of supervised release. "For many of the trips, Bouchard and Boyd stayed in the same hotel room and spent time at the pool and Disney parks — all during business hours," federal prosecutors said.

Persons: —, Chantelle Boyd, Thomas Bouchard, Boyd, Bouchard, " Bouchard Organizations: Army, DOJ, Service, Justice Department, US Army Natick Contracting, Defense Department, US Attorney's, Massachusetts, Business, The Defense Department, US Army Locations: Orlando, Massachusetts, Maryland , Virginia , Alabama, Clearwater , Florida

In reality, a federal judge, not Smith, made the decision to release that filing to the public. After hearing opposition from Trump's team about the redactions Smith's team suggested, Chutkan reviewed the brief and ultimately decided that the redactions were appropriate. Chuck Rosenberg, a Justice Department veteran and NBC News legal analyst, said Smith's team was doing things by the book. Litigating that case is an obligation of the Smith team and not a violation of Justice Department guidelines," Rosenberg said. "In any event, the Smith team properly sealed its filing.

Persons: WASHINGTON —, Donald Trump, Jack Smith, Smith, Tanya Chutkan, Chutkan, James Comey’s, Hillary Clinton’s, ” Chutkan, Trump, Trump's, that's, Chuck Rosenberg, Rosenberg, It’s, ”, they've, Jan Organizations: WASHINGTON, Trump, Justice Department, NBC News, Justice, DOJ, Department

☆ Diddy now has a 3rd chance to seek bail, this time from the same judge overseeing Ticketmaster antitrust lawsuit
▼ + stars: | 2024-10-03 | by ( Laura Italiano | ) www.businessinsider.com time to read: +3 min

A new US district judge was announced Thursday in the Sean "Diddy" Combs sex-trafficking case. Judge Arun Subramanian is now in charge of Combs' case and a potential third bid for bail. Subramanian is the same Manhattan federal judge overseeing the DOJ's Ticketmaster antitrust action. AdvertisementA new federal judge has been assigned to the Sean "Diddy" Combs sex-trafficking case, and it's the same judge currently overseeing the Department of Justice antitrust case against Ticketmaster. US District Court Judge Andrew L. Carter, Jr., turned Combs down on his second court appearance.

Persons: Sean, Diddy, Combs, Arun Subramanian, Subramanian, —, Andrew L, Carter , Jr, Anthony Ricco, Ricco Organizations: Ticketmaster, Service, Department of Justice, US, DOJ Locations: Manhattan, Brooklyn, Miami

☆ The US economy teeters after it's hit by a triple threat: Middle East escalation, port closures, and Hurricane Helene
▼ + stars: | 2024-10-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

A dockworkers strike begins. Back in the States, a dockworkers strike could upend an economy finally on the mend. Tuesday morning marked the start of a dockworkers strike that will shutter dozens of US ports that handle about half of all US ocean imports. The Iranian attack was largely thwarted, and the dockworkers strike could be short-lived. That's thanks in part to strong demand in China.

Persons: —, JD Vance, Tim Walz, BI's Brent D, Griffiths, Amir Cohen, Hurricane Helene, it's, Tyler, Paul Podolsky, Kate Capital, Samantha Lee Musk, Jenny Chang, Rodriguez Hey Airbnb, Gen Z, somethings, Critics —, Amazon's, Nicholas Bloom, Eric Adams, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Midwest Nice, REUTERS, US Navy, Bank of America, Northwestern Energy, Bridgewater Associates, Samantha Lee Musk &, mojo, DOJ, Google, BI, Amazon, Stanford, New York City Locations: Israel, Iran, Saudi Arabia, States, Bridgewater, China, Yale, New York, London

☆ AI & the Law: Big Data, Big Changes
▼ + stars: | 2024-10-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI & the Law: Big Data, Big ChangesA thought-provoking discussion on how organizations can mitigate liability concerns about AI-powered technologies. Veteran DOJ litigator and former judge Katherine Forrest carefully walks us through the complex legal and regulatory environment of AI and shares her thoughts on how C-suites and boards can best take advantage of these powerful new tools.

Persons: DOJ litigator, Katherine Forrest Organizations: DOJ

☆ Trump argues against disclosure of certain details in major Jack Smith brief laying out new evidence in election case
▼ + stars: | 2024-10-01 | by ( Tierney Sneed | Katelyn | ) edition.cnn.com time to read: +3 min

CNN —Former President Donald Trump is again claiming that special counsel Jack Smith is trying to influence the November presidential election by seeking to make new evidence and witness testimony public as voters start to go to the polls. The brief is aimed at convincing the trial judge in the case – and eventually, higher courts – that Smith’s case can survive under the Supreme Court’s recent ruling that said Trump had at least some presidential immunity in the prosecution. The filing is expected to reveal new evidence against Trump, including what several witnesses testified to in the grand jury proceedings. Sources say the proposed redactions are minimal, blacking the sources of the information and removing witness names, but leaving the substance of what they said about Trump for public view. When Smith filed the sealed brief last week, he defended the proposed redactions as striking the balance between protecting witnesses and maintaining public access to the case.

Persons: Donald Trump, Jack Smith, Smith, Trump, Department’s, ” Trump, Tanya Chutkan, redactions Organizations: CNN, Republican White House, Trump, Justice Locations: United States, Florida

☆ Amazon just won a partial victory against the FTC
▼ + stars: | 2024-10-01 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +4 min

Amazon won partial dismissal of an FTC lawsuit alleging illegal monopoly practices. AdvertisementAmazon just won a partial dismissal of a Federal Trade Commission lawsuit that accused it of operating an illegal monopoly. In September 2023, the FTC sued Amazon for stifling competition by punishing vendors who sell their items cheaper on rival platforms and for forcing sellers to use Amazon's own fulfillment service. On Monday, a federal judge in Seattle partially granted Amazon's earlier motion to dismiss the case, Reuters reported, citing court records. Last year, the agency sued Amazon in another case, saying it lured unwitting customers into Prime subscriptions and created a "labyrinthine" process to cancel it.

Persons: Biden, — Organizations: Amazon, FTC, Big Tech, Service, Federal Trade Commission, Reuters, Google, Nvidia, Justice, Bloomberg, DOJ, Apple, Activision Blizzard Locations: Seattle, Washington

LAS VEGAS — Vice President Kamala Harris said Sunday that she would "double" Justice Department resources to crack down on cartels and cut the flow of fentanyl into the U.S., just hours after former President Donald Trump repeated his false claim that she wants to legalize the drug. At a rally Saturday, Trump also discussed fentanyl, baselessly claiming Harris wants to legalize it. "She's so radical she even wants to legalize fentanyl right away," he told a crowd Saturday in Wisconsin, a claim he repeated Sunday before a crowd in Pennsylvania. More than 100,000 people died of drug overdoses last year, according to data from the Centers for Disease Control and Prevention. Sunday's rally was Harris' second in Nevada since she launched her presidential bid.

Persons: Kamala Harris, Donald Trump, Harris, Trump, ” Harris, Nnamdi Egwuonwu, Megan Lebowitz Organizations: VEGAS, Department, Department of Justice, Centers for Disease Control, Trump, Nevada Democratic Party Locations: U.S, Arizona, Wisconsin, Pennsylvania, Erie , Pennsylvania, Nevada, Las Vegas, Washington

☆ Former FAA contractor indicted over claims that he worked as a secret agent for Iran, DOJ says
▼ + stars: | 2024-09-29 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

Former FAA contractor Abouzar Rahmati was indicted over claims he was spying for Iran, the DOJ said. AdvertisementA former Federal Aviation Administration (FAA) contractor has been indicted over claims that he used his position to spy for Iran, the Department of Justice said. Before working for the FAA, Rahmati was a First Lieutenant in the Islamic Revolutionary Guard Corps (IRGC) from around June 2009 until roughly May 2010, according to the indictment. Related storiesWhile working for the company, the department said he downloaded "sensitive non-public" documents related to the FAA and took them to Iran in April 2022. AdvertisementThe DOJ and the Islamic Republic of Iran did not immediately respond to requests for comment.

Persons: Abouzar Rahmati, Rahmati, —, Abouzar, Iran —, Robert Wells Organizations: FAA, DOJ, Service, Federal Aviation Administration, Department of Justice, Islamic Revolutionary Guard Corps, NAS, FBI's National Security Branch Locations: Iran, Iranian, Islamic Republic of Iran

☆ Justice Department sues Alabama over its effort to remove more than 3,000 names from voter rolls too close to election
▼ + stars: | 2024-09-29 | by ( Devan Cole | ) edition.cnn.com time to read: +4 min

CNN —The Justice Department sued Alabama on Friday over the state’s recent effort to remove more than 3,000 names from its voter rolls, arguing the move violated federal law prohibiting such action from taking place too close to an election. But in an 18-page lawsuit filed in federal court in Alabama, the Justice Department argued that the so-called voter roll purge ran afoul of the National Voter Registration Act, which governs how and when most states can execute large-scale changes to their lists of registered voters. Nonpartisan election law experts say it’s almost always caught when it does happen, and that it isn’t a widespread problem plaguing US elections. The new lawsuit expands the legal fight against Alabama’s actions, which had been challenged earlier this month by voters in the state, including several impacted by the purge. “I was elected Secretary of State by the people of Alabama, and it is my Constitutional duty to ensure that only American citizens vote in our elections,” Allen said.

Persons: Wes Allen, ”, –, Kristen Clarke, ” Allen, “, ” CNN’s Marshall Cohen, Ethan Cohen Organizations: CNN, The Justice Department, Alabama, GOP, Justice Department, Justice, Department, State, Department of Locations: Alabama

☆ Florida congressional candidate charged with threatening to kill primary opponent
▼ + stars: | 2024-09-28 | by ( Raquel Coronell Uribe | Raquel Coronell Uribe Is A Breaking News Reporter. | ) www.nbcnews.com time to read: +2 min

The Justice Department revealed an indictment Friday charging a Florida man with threatening to kill his political opponent in 2021. William Robert Braddock III, 41, of St. Petersburg, Florida, was charged with threatening two people, one of whom the DOJ said was his primary opponent in the 2022 election for Florida’s 13th Congressional District. Braddock allegedly threatened to “call up my Russian-Ukrainian hit squad” and make the primary opponent disappear, according to the indictment. A Florida court in 2021 granted Luna and a conservative activist and friend of hers, Erin Olszewski, a temporary restraining order. The case is part of the Justice Department’s Election Threats Task Force, convened in 2021 to address threats targeting election workers.

Persons: William Robert Braddock III, Anna Paulina Luna, Braddock, Luna, Erin Olszewski, Olszewski, Anna Moneymaker Organizations: Department, Florida’s, Congressional, DOJ, NBC, Force, St . Petersburg Police Department, Republican Locations: Florida, St . Petersburg , Florida, Braddock, Ukrainian, Wilmington, N.C, Pinellas County, Philippines, Los Angeles, Tampa, St

☆ Justice Department sues Alabama over effort to purge voter rolls within 90 days of election
▼ + stars: | 2024-09-28 | by ( Raquel Coronell Uribe | Raquel Coronell Uribe Is A Breaking News Reporter. | ) www.nbcnews.com time to read: +3 min

While states are allowed to clean up their voter registrations ahead of an election, federal law says that must happen more than 90 days before an election. The Justice Department said Friday that the voter roll purge announcement in Alabama took place 84 days before the Nov. 5 election and therefore violated the National Voter Registration Act. Noncitizen identification numbers are assigned to immigrants by U.S. Customs and Immigration Services to track their immigration files, employment eligibility and visa applications, among other things. Permanent residents who then become naturalized citizens will have had a noncitizen identification number at some point. The DOJ lawsuit comes as Alabama kicked off its general election this month, becoming the first state to start sending out mail ballots on Sept. 11.

Persons: Wes Allen, Allen, ” Organizations: Department, Alabama, Alabama’s, Department of Homeland Security, Justice Department, NBC, DOJ, NBC News, U.S . Customs, Immigration Services Locations: Alabama, U.S

☆ Analysis: Eric Adams is the latest high-profile Democrat facing federal charges, further complicating Trump’s bias claims
▼ + stars: | 2024-09-26 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +6 min

CNN —Federal prosecutors say New York City Mayor Eric Adams engaged in a “long-running conspiracy,” accepting luxury travel and gifts from foreign businesspeople and at least one Turkish government official. Adams, who’s been indicted on five federal public corruption charges, has denied wrongdoing and says he is being targeted because of his positions. Federal agents search Gracie Mansion, the official residence of the mayor of New York City, on September 26, 2024, after Mayor Eric Adams was indicted on federal criminal charges. That Adams, a Democrat, has been charged by prosecutors in the Southern District of New York on corruption charges does not, on its own, disprove Trump’s point. Adams remains defiant in the face of the charges, but they are clearly having an effect on New York politics.

Persons: Eric Adams, Adams, who’s, “, ”, Gracie, Timothy A, Clary, Donald Trump’s, Trump, Sen, Bob Menendez, Trump’s, Menendez, Stormy Daniels, Attorney Alvin Bragg, Jack Smith, General Merrick Garland, Smith, George Santos, Santos, Elie Honig, Honig, Sheldon Silver, Dean Skelos, ” Honig, Alexandria Ocasio, Kathy Hochul Organizations: CNN, New York City, Getty, White, Department of Justice, DOJ, Democrat, of, New, New Jersey Democrat, Manhattan, Attorney, Trump, Republican, CNN The Southern, of New York, New York State Assembly, New York State Senate, Key New York Democrats, New York Gov Locations: New York, New York City, AFP, Southern, of New York, New Jersey, Florida, Washington , DC, York, Manhattan, Lower Manhattan, of New, New, Alexandria, Cortez

☆ Super Micro shares tumble 15% after DOJ reportedly opens probe into company
▼ + stars: | 2024-09-26 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +1 min

Super Micro Computer shares fell more than 15% on Thursday after the Justice Department reportedly opened a probe into the company, which has been a major beneficiary of the artificial intelligence boom. Super Micro makes computers that companies use as servers for websites, data storage and other applications, including AI algorithms. A prosecutor in the U.S. attorney's office in San Francisco has asked for information about a former employee who has previously accused Super Micro of accounting violations, according to the Journal. Following Hindenburg's report in August, Super Micro said it would not file its annual report for the fiscal year with the U.S. Securities and Exchange Commission on time, sending shares tumbling nearly 20%. Super Micro declined to comment.

Persons: Hindenburg Organizations: Micro Computer, Justice Department, Wall Street Journal, Hindenburg Research, CNBC, Nvidia, AMD, Intel, Super, U.S . Securities, Exchange Commission, Department of Justice Locations: U.S, San Francisco

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Disney, Ford, General Motors, Duolingo, Roblox, Alphabet & more
▼ + stars: | 2024-09-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Wells Fargo upgrades Baker Hughes to overweight from equal weight Wells says it likes the oil service company's business model. Morgan Stanley upgrades AutoNation to overweight from equal weight Morgan Stanley says AutoNation is well positioned in a bumpy macroeconomic environment. Morgan Stanley reiterates Apple as overweight Morgan Stanley says it's remaining cautious after checks of iPhone 16 demand for Apple. Morgan Stanley downgrades Ford to equal weight from overweight and General Motors to underweight from equal weight Morgan Stanley downgraded several automakers on Wednesday and said it's concerned about market share losses. Morgan Stanley reiterates Nike as equal weight Morgan Stanley raised its price target on Nike to $82 per share from $79 ahead of earnings on October 1.

Persons: Wolfe, Sallie Mae, it's bullish, Wells, Baker Hughes, Piper Sandler, Tesla, Piper, Morgan Stanley, AutoNation, Mike Manley, Duolingo, MARA, CORZ, Piper Sandler downgrades Tyson, it's, Oppenheimer, GOOG's, Baird, Locker Baird, Apple, TD Cowen downgrades Expedia, Cowen, Goldman Sachs, Goldman, Morgan Stanley downgrades Ford, Roblox Organizations: APO, Bank of America, Macquarie, Tyson Foods, Barclays, Hewlett Packard Enterprise, DOJ, Google, Foot, Apple, ISI downgrades, Pacific, Evercore, UNP, Disney, JPMorgan, Oil & Gas, Petrobras, Motors, GM, Citi, Investors, Nike Locations: CLSK, Foot Locker, Mexico, China, Fortnite

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