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☆ Trump reiterates no plans to sell DJT after election win; stock soars
▼ + stars: | 2024-11-08 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

This photo illustration shows an image of former President Donald Trump next to a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media shares soared Friday after President-elect Donald Trump reaffirmed he has no plans to sell off his stake in the Truth Social operator, and called on authorities to investigate whoever suggested otherwise. Trump's announcement, posted on Truth Social, was his first personally written statement since his stunning victory against Democratic Vice President Kamala Harris in Tuesday's presidential election. DJT shares shot up more than 10% immediately following Trump's post, triggering a temporary trading halt due to volatility. Shares plunged more than 22% on Thursday, undoing some of the company's gains from a surging rally in the lead-up to the election.

Persons: Donald Trump, Kamala Harris, Trump Organizations: Trump Media, Democratic, Republican Locations: Washington ,, Tuesday's

☆ What the Fed’s interest rate cuts mean for your money
▼ + stars: | 2024-11-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

But that doesn’t mean as a result interest rates are now low — or will soon be low. “‘Falling interest rates’ are not the same as ‘low interest rates.’ Interest rates are high and will only decline to ‘not as high’ as … we move into 2025,” said Greg McBride, chief financial analyst at Bankrate. Credit cards: Just before the Fed cut its key rate in September, the average credit card rate was 20.78%, according to Bankrate. Another option: Try transferring your balance to a credit card from a credit union or local bank. Before the Fed’s September rate cut many of those accounts were offering yields between 4.25% and 5.3%, according to those listed on Bankrate.com.

Persons: ”, Greg McBride, Matt Schulz, Chris Diodato, they’re, Freddie Mac, Sam Khater, Freddie Mac’s, ” McBride, Sinead Colton Grant, Colton Grant, “, Don’t, Diodato, you’re, BNY, they’ve Organizations: CNN, Reserve, Bankrate, Fed, LendingTree, Treasury, Savings Locations: Treasuries

☆ We asked 3 migration firms about what they're hearing in the first 48 hours after the election
▼ + stars: | 2024-11-08 | by ( Maria Noyen | Shubhangi Goel | ) www.businessinsider.com time to read: +6 min

Business Insider spoke to three residency and citizenship consultancies about what they heard in the 48 hours after the election was called. Advertisement"Americans normally will take an average of three weeks to four weeks to review the documents before signing anything," Arton said. This time, it's different: "They're signing it the same day." While demand has risen steadily, Galst said clients' tone this week took on particular urgency — they're no longer just shopping around for options. "In the last 24 hours, I've heard real urgency," Galst said.

Persons: —, Donald Trump readies, They've, Steve Ballmer, Armand Arton, He's, Arton, they're, Partners Judi Galst, Galst, I've, it's, Pela Terra Organizations: Democratic, Service, White, Business, Arton, Henley, Partners, Henley & Partners, US Nationals, Gaza, Hamas Locations: Montreal, New York, Connecticut, California, London, Palestinian, Portugal, Caribbean, Ireland, Germany, Austria, Poland, Florida, American, Europe

☆ A Qantas flight made an emergency landing in Sydney due to a suspected engine failure on a Boeing 737
▼ + stars: | 2024-11-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Qantas flight QF520 had to make an emergency landing in Sydney after a suspected engine failure. As of June 30, the Qantas Group had 347 aircraft, 75 of which were Boeing 737-800 planes. AdvertisementA Qantas flight headed to Brisbane had to make an emergency landing at Sydney Airport after a suspected engine failure. Qantas flight QF520 made a safe landing just after 1 p.m. local time, a spokesperson for Sydney Airport told Business Insider. As of June 30, the Qantas Group had 347 aircraft, 75 of which were Boeing 737-800 planes.

Persons: QF520, — Organizations: Qantas, Boeing, Qantas Group, Service, Sydney Airport, Business, Aviation, Fighting, Sydney, Airbus, Alaskan Airlines Locations: Sydney, Brisbane, Tokyo, Oregon, California

The recommendation coincides with a new report finding asymptomatic bird flu infection in some workers. Those cases were discovered using blood, or serology, testing and seem to have been transmitted from sick animals, not people. To date, 46 people have been diagnosed with bird flu, also known as H5N1, in the United States this year. Of those 115, eight (7%) had antibodies showing they’d been infected with the bird flu. Until now, workers who had a known exposure to bird flu but didn’t have symptoms haven’t been routinely tested.

Persons: Nirav Shah, Demetre Daskalakis, ” Daskalakis, they’d, Shah, “, ”, who’s, Jennifer Nuzzo, “ We’ve, ” Nuzzo, Daskalakis Organizations: Centers for Disease Control, Prevention, CDC, National Center, farmworkers, Pandemic, Brown University School of Public Health, Food and Drug Administration Locations: United States, California, Washington, Colorado, Michigan

☆ Pinterest stock plunges following weak Q4 revenue guidance
▼ + stars: | 2024-11-07 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +1 min

Bill Ready, CEO of Pinterest, rings the opening bell at the New York Stock Exchange on May 15, 2024. Pinterest shares plunged 15% on Thursday after the social media company provided soft guidance for its fourth-quarter revenue despite beating on the top and bottom lines with its third-quarter earnings. The midpoint of the fourth-quarter guidance, $1.135 billion, trailed analyst estimates of $1.143 billion. Pinterest said it had 537 million global monthly active users in the third quarter, topping analyst estimates of 532.6 million. Its total cost and expenses for the quarter were $904 million, up 17% compared with $768 million the previous year.

Persons: Bill Ready, Pinterest, Meta Organizations: New York Stock Exchange, Amazon, Meta Locations: LSEG

☆ How Elon Musk stands to cash in on Trump's presidential victory
▼ + stars: | 2024-11-07 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +10 min

Jim Watson | Afp | Getty ImagesAs Donald Trump celebrated his presidential victory early Wednesday morning, Elon Musk was right there with him. Elon," Trump said onstage at his Mar-a-Lago resort, thanking the world's richest person for spending two weeks campaigning in Pennsylvania. Musk's investment in Trump is already paying off, even though Trump doesn't take office until Jan. 20. Musk was introduced by Cantor Fitzgerald CEO Howard Lutnick, who called the Tesla CEO the "greatest capitalist" in U.S. history. Having a role in a bespoke commission could give Musk power over federal agencies' budgets, staffing and the ability to push for the elimination of inconvenient regulations.

Persons: Elon Musk, Donald Trump, Jim Watson, Elon, Trump, Musk's SpaceX, Musk, surrogates, Tony, Cantor Fitzgerald, Howard Lutnick, Lutnick, Biden, Tesla, Sergio Flores, Geoff Orazem, Orazem, Vladimir Putin, Xi Jinping, Bill Nelson, Putin, Tenet, JD Vance Organizations: Republican, Afp, Getty, Trump, U.S, Tesla, SpaceX, Twitter, Department of Government, SEC, Environmental Protection Agency, Federal Aviation Administration, IRS, Microsoft, Meta, U.S . Army, National Security Agency, FedScout, NASA, U.S . Air Force, Space Force, Federal Emergency Management Agency, National Labor Relations Board, Street Journal, NBC News, Tenet Media, Department of Justice, Putin, Kremlin, PAC Locations: Butler , Pennsylvania, Lago, Pennsylvania, China, Hurricane, New, Puerto Rico, Meta, U.S, Taiwan, Russian, Ukraine

☆ The year-end stock rally has begun, Goldman Sachs says
▼ + stars: | 2024-11-07 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Wednesday's massive rally may be just the start of a huge year-end rally. Goldman Sachs tactical specialist Scott Rubner thinks those gains won't stop anytime soon. "The year-end rally starts today and may be higher than investors were expecting," he said Wednesday. Goldman data shows buybacks are already up 15% in 2024 from the last year, at more than $1.05 trillion. "We know we are fighting the tape here, but believe it makes sense to sell the stock."

Persons: Donald Trump's, Kamala Harris, ChatGPT, Goldman Sachs, Scott Rubner, Rubner, Goldman, Baird Organizations: Dow Jones, Nasdaq, Goldman, JPMorgan Chase

☆ Block shares plunge 11% on revenue miss
▼ + stars: | 2024-11-07 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +1 min

Block shares tumbled 11% in extended trading on Thursday after the company reported third-quarter revenue that trailed Wall Street expectations. Earnings per share: 88 cents adjusted vs. 87 cents expected88 cents adjusted vs. 87 cents expected Revenue: $5.98 billion vs. $6.24 billion expectedBlock, formerly known as Square, posted $2.25 billion in gross profit, up 19% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company's core transactional businesses. The company reported net income of $283.7 million, or 45 cents per share, after losing $88.7 million, or 15 cents a share, a year earlier. The company said gross profit for the fourth quarter will increase 14% to $2.31 billion.

Persons: Jack Dorsey Organizations: LSEG, Twitter

☆ Rivian lowers earnings guidance after missing Wall Street's third-quarter expectations
▼ + stars: | 2024-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Rivian Automotive lowered its earnings forecast for the year after missing Wall Street's third-quarter expectations, including a significant miss in revenue. That compares to a previous guidance of roughly $2.7 billion loss. The company reported a negative gross profit of $392 million for the third quarter compared with a loss of $477 million a year earlier. The automaker's net loss narrowed year-over-year to $1.1 billion compared to $1.37 billion during the third quarter of 2023. Its revenue compared to a year ago dropped by 34.6% amid supplier disruptions that impacted the company's production.

Persons: Wall, Rivian Organizations: Workers, Rivian Automotive Locations: Normal , Illinois, U.S

☆ Binance founder Changpeng Zhao says prison inmates and guards asked him for crypto tips
▼ + stars: | 2024-11-07 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Binance founder Changpeng Zhao left prison in September. He said he wasn't recognized at first, but inmates and guards soon sought crypto tips. He told Bloomberg in his first post-prison interview about how he spent his days. Changpeng Zhao, widely known as CZ, told Bloomberg in his first interview since being released in September. He said he told inquiring inmates and prison guards: "I don't have access to any information.

Persons: Changpeng Zhao, wasn't, —, Zhao, Binance, That's, he's, Donald Trump's Organizations: Bloomberg, Service, ISIS, Giggle Academy, Zhao Locations: California —

☆ 8 U.S. cities where people are moving to live cheaply: They'd 'rather pack their bags than pay a higher rent,' expert says
▼ + stars: | 2024-11-07 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

The Bank of America Institute found the top eight cities where people are moving for cheaper rent. "Consumers would rather pack their bags than pay a higher rent, and that can play out in two ways," Joe Wadford, an economist at the Bank of America Institute, tells CNBC Make It. Cleveland, Ohio Ken Redding | The Image Bank | Getty ImagesTop 8 U.S. cities where people are moving for cheaper rentCleveland, OhioIndianapolis, Ind. The state of Ohio had two cities land in the top 8 on the Bank of America Institute list. The city is home to major sports teams like the Cleveland Cavaliers, the Cleveland Guardians, and the Cleveland Browns.

Persons: Major metropolises, Joe Wadford, Wadford, Cleveland , Ohio Ken Redding, Bill Dickinson Organizations: of America Institute, Bank of America Institute, Bank of America, Las Vegas , Nevada Eyeem Mobile, Istock, Getty, CNBC, Bank, Cleveland, Cleveland Cavaliers, Cleveland Guardians, Cleveland Browns, Roll Hall of Fame, Cleveland Museum of Art, Columbus, Columbus Ohio Sky Locations: Las Vegas , Nevada, West, Northeast, New York, Boston, San Francisco, San Jose, Los Angeles, Cleveland , Ohio, Cleveland , Ohio Indianapolis, Ind, Las Vegas, Nev, Columbus , Ohio Jacksonville, Fla, Austin , Texas Phoenix, Ariz, Nashville, Tenn, Ohio, U.S, Columbus Ohio

☆ Capital gains tax hikes 'entirely off the table' under President-elect Trump, Republican Congress, economist says
▼ + stars: | 2024-11-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Long-term capital gains rates apply to assets owned for more than one year. Higher capital gains tax rates, however, are "entirely off the table," under a Trump presidency and Republican-controlled Congress, said Erica York, senior economist and research manager with the Tax Foundation's Center for Federal Tax Policy. Even with partial Republican control, "it's most likely that capital gains tax policy just stays put where it is," York explained. For 2024, investors pay long-term capital gains rates of 0%, 15% or 20%, depending on taxable income. Combined with long-term capital gains taxes, higher earners currently pay up to 23.8% on investments.

Persons: Donald Trump, Jim Watson, Donald Trump's, Kamala Harris, Harris, Joe Biden's, Erica York, York, Howard Gleckman Organizations: U.S, Republican, Afp, Getty, Trump, Tax, Center, Federal Tax Policy, Republicans, Representatives, White, Urban, Brookings Tax Locations: Palm Beach

☆ Lucid slightly tops Wall Street's third-quarter expectations amid widening losses
▼ + stars: | 2024-11-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +1 min

Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024. Lucid Group slightly beat Wall Street's third-quarter expectations as the electric carmaker cuts costs ahead of plans to begin consumer production of a new SUV by the end of this year. Lucid CEO Peter Rawlinson described the quarter as a "landmark" for the company, citing record deliveries of 2,781 units as well as cost-cutting measures. The company reaffirmed plans to produce roughly 9,000 vehicles this year, which would mark a 6.8% increase compared to 8,428 units in 2023. Lucid said it had $5.16 billion in total liquidity to end the quarter.

Persons: Peter Rawlinson, Lucid Organizations: Lucid Locations: San Francisco

☆ Jeff Bezos' net worth hits all-time high fueled by Amazon shares getting Trump bump
▼ + stars: | 2024-11-07 | by ( Sarah Jackson | Madeline Berg | ) www.businessinsider.com time to read: +3 min

The Amazon founder's net worth soared to an all-time high of $228 billion on Wednesday, per Bloomberg's Billionaires Index. Amazon's stock reached its own record high on Wednesday, fueling Bezos' wealth jump. His net worth hit a record high of $228 billion on Wednesday, according to the Bloomberg Billionaires Index. The rally helped the Nasdaq 100, the index on which Amazon is listed, reach a record high. The Tesla CEO's net worth climbed $26.5 billion on Wednesday to reach $290 billion, per Bloomberg.

Persons: Jeff Bezos, —, Donald Trump, Bezos, Elon Musk, Bezos —, Trump Organizations: Service, Bloomberg, Nasdaq, Trump, Tesla, Washington Post, SpaceX, NASA

☆ Rare pair of Ming Dynasty jars smash auction estimate, selling for $12.5 million
▼ + stars: | 2024-11-07 | by ( Jack Guy | ) edition.cnn.com time to read: +3 min

CNN —A pair of rare Ming Dynasty fish jars dating from the 16th century have sold for £9.6 million ($12.5 million) at auction, smashing their estimate of £1 million ($1.3 million). “This remarkable result makes it the highest priced Chinese work of art sold at auction worldwide this year,” said Sotheby’s. Part of the lot’s appeal was the fact that this was the first ever appearance of a complete pair of fish jars with covers at auction. There is only one other covered pair known to be maintained together, and they are held by the Musée Guimet in Paris. Tristan Fewings/Getty ImagesIn addition, there are only three known single jars that still have covers, all of which are in private collections.

Persons: ”, Tristan Fewings, Sotheby’s “, –, Nicolas Chow, ” Chow, you’ve, “ Organizations: CNN Locations: Asia, Paris, Wiesbaden, China, Europe

☆ Baird downgrades JPMorgan Chase to sell, sees stock dropping nearly 20%
▼ + stars: | 2024-11-07 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

Analyst David George downgraded the stock to underperform from neutral. He believes that JPMorgan is over-earning on both net interest income and credit and finds the stock expensive at current trading levels. "We know we are fighting the tape here, but believe it makes sense to sell the stock." JPM YTD mountain JPM, year-to-date George also noted that, even with a potentially more friendly regulatory environment under a second Trump administration, JPMorgan Chase may not grow its buyback program from here. LSEG data shows 15 of the 24 analysts covering the stock have a buy or strong buy rating.

Persons: Baird, David George, George, Trump, JPMorgan Chase, buybacks Organizations: JPMorgan Chase, JPMorgan

☆ The one non-U.S. stock market that could win from Trump and how to play it
▼ + stars: | 2024-11-07 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Japan is one stock market outside the U.S. that could win now that Donald Trump is headed back to the White House. Trump has previously proposed tariffs of up to 20% on imports, with a stringent tax of 60% on goods coming from China. Japanese stocks rallied, however, as the yen weakened with some investors expecting the U.S. defense partner stands to gain most from Trump's policies. However, Akutsu warned, with few positive earnings surprises in the market, a year-end rally could be "limited in scope." Takada said investors may have to weigh the near-term benefits of a Trump market against the risks of a possible trade war, even with a rise in the Japanese equity risk premium.

Persons: Donald Trump, Trump, Goldman Sachs, Tony Pasquariello, What's, Pasquariello, America's Masashi Akutsu, Akutsu, Morgan's Masanari Takada, Takada, It's Organizations: Nikkei, Bank, Bank of America, Hitachi, Retailing, Trump Locations: Japan, China, U.S, Europe

☆ Airbnb misses on earnings but squeaks in a revenue beat
▼ + stars: | 2024-11-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Airbnb reported third-quarter earnings on Thursday that were shy of analyst estimates, though it squeaked in a small revenue beat. Here's how the company did:Earnings per share: $2.13 vs. $2.14 expected by LSEG$2.13 vs. $2.14 expected by LSEG Revenue: $3.73 billion vs. $3.72 billion expected by LSEGRevenue increased 10% from $3.4 billion a year earlier. Airbnb reported net income of $1.37 billion, or $2.13 per share, compared with $4.37 billion, or $6.63 per share, in the same period last year. Gross booking value, used by Airbnb to track host earnings, service fees, cleaning fees and taxes, totaled $20.1 billion in the third quarter. That's above the $19.9 billion expected by analysts, according to StreetAccount.

Persons: Brian Chesky, Airbnb, Airbnb's, StreetAccount Organizations: Airbnb Inc, LSEG, LSEG Revenue, StreetAccount Locations: Los Angeles , California

☆ Moderna posts surprise profit as Covid vaccine sales impress, cost cuts take hold
▼ + stars: | 2024-11-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected. Before year end, the company plans to file for approval of its experimental "next-generation" Covid vaccine and combination shot targeting Covid and the flu. Moderna this year also expects to apply for expanded approval of its RSV vaccine, targeting high-risk adults ages 18 to 59. "I think the earlier launch and a steeper ramp drove a much higher sales number" for the Covid vaccine, Moderna CEO Stéphane Bancel said in an interview. Analysts had expected sales of $132 million for the RSV vaccine, according to estimates compiled by StreetAccount.

Persons: Moderna, Stéphane Bancel, Bancel, StreetAccount, mull Organizations: Moderna, LSEG, Merck, Research Locations: U.S, Union, Norway, Iceland, Qatar, Europe

☆ See the 95 executives Goldman Sachs tapped to join its exclusive partnership — a record high under David Solomon
▼ + stars: | 2024-11-07 | by ( Reed Alexander | ) www.businessinsider.com time to read: +11 min

Goldman Sachs on Thursday promoted 95 executives to its partnership. AdvertisementDavid Solomon, CEO of Goldman Sachs. The average tenure of the partner class is 16 years at Goldman Sachs. Marine Abiad, Global Banking & Markets, ParisBenny Adler, Global Banking & Markets, New YorkAdvertisementShahzad Ali, Controllers, New YorkAsh Ang, Global Banking & Markets, SingaporeLucia Arienti, Global Banking & Markets, LondonMatthew Armas, Asset & Wealth Management, New YorkAdvertisementPatrick Armstrong, Asset & Wealth Management, New YorkSebastian Ayton, Global Banking & Markets, ParisAmitayush Bahri, Asset & Wealth Management, LondonRob Barlick Jr, Asset & Wealth Management, MiamiAdvertisementDavid Bear, Global Banking & Markets, New YorkAmanda Beisel, Controllers, New YorkJeff Bernstein, Asset & Wealth Management, New YorkLyla Bibi, Global Banking & Markets, New YorkAdvertisementAnne Bizien, Global Banking & Markets, ParisTristan Blood, Asset & Wealth Management, LondonBrittany Boals Moeller, Asset & Wealth Management, AtlantaMarc Boheim, Asset & Wealth Management, LondonAdvertisementChris Bonner, Global Banking & Markets, New YorkKevin Boova, Global Banking & Markets, New YorkRelated storiesOonagh Bradley, Compliance, LondonTimothy Braude, Asset & Wealth Management, New YorkAdvertisementSteven Budig, Asset & Wealth Management, New YorkJacqueline Cassidy, Global Banking & Markets, New YorkSorubh Chandani, Asset & Wealth Management, New YorkPamela Codo-Lotti, Global Banking & Markets, New YorkAdvertisementBracha Cohen, Asset & Wealth Management, New YorkShaun Cullinan, Asset & Wealth Management, New YorkMarc d'Andlau, Global Banking & Markets, ParisAdam Davis, Global Banking & Markets, New YorkAdvertisementMatthew Doherty, Asset & Wealth Management, New YorkJason Eisenstadt, Global Banking & Markets, New YorkAshley Everett, Global Banking & Markets, New YorkAlex Finston, Global Banking & Markets, New YorkAdvertisementAlison Flood, Global Banking & Markets, New YorkArvind Giridhar, Global Banking & Markets, New YorkAshwin Gupta, Asset & Wealth Management, New YorkSonia Gupta, Global Banking & Markets, San FranciscoAdvertisementTerry Hagerty, Global Banking & Markets, New YorkRobert Hamilton Kelly, Asset & Wealth Management, West Palm BeachAxel Hoefer, Global Banking & Markets, FrankfurtDylan Hogarty, Global Banking & Markets, New YorkAdvertisementTim Holliday, Corporate Treasury, LondonKazuya Iketani, Global Banking & Markets, TokyoSumedh Jaiswal, Global Banking & Markets, LondonKyle Jessen, Global Banking & Markets, San FranciscoAdvertisementLotfi Karoui, Global Investment Research, New YorkFeroz Khosla, Global Banking & Markets, New YorkLarry Kleinman, Tax, New YorkJared Klyman, Asset & Wealth Management, New YorkAdvertisementDaniel Korich, Global Banking & Markets, New YorkRebecca Kruger, Global Banking & Markets, New YorkKosuke Kurosawa, Global Banking & Markets, TokyoShane Lee, Global Banking & Markets, CalgaryAdvertisementMichael Leister, Global Banking & Markets, New YorkMatthew Leskowitz, Global Banking & Markets, New YorkHilary Lopez, Asset & Wealth Management, LondonCedric Lucas, Asset & Wealth Management, New YorkAdvertisementMazen Makarem, Global Banking & Markets, New YorkMatthew Mason, Global Banking & Markets, Hong KongJans Meckel, Global Banking & Markets, ParisPatrick Moran, Legal, New YorkAdvertisementLeonie Morel, Global Banking & Markets, LondonJohn O'Connor, Global Banking & Markets, New YorkSteve Orr, Global Banking & Markets, New YorkLeke Osinubi, Engineering Division, New YorkAdvertisementElizabeth Overbay, Platform Solutions, New YorkJonathan Perry, Engineering Division, LondonThomas Plank, Global Banking & Markets, SingaporeCaitlin Pollak, Global Banking & Markets, New YorkAdvertisementLing Pong, Asset & Wealth Management, Hong KongJoe Porter, Global Banking & Markets, San FranciscoVishaal Rana, Global Banking & Markets, New YorkAlexandre Reinert, Global Banking & Markets, Hong KongAdvertisementMonique Rollins, Corporate Treasury, New YorkMarcos Rosenberg, Asset & Wealth Management, RichardsonMarc Schaffer, Global Banking & Markets, New YorkJan Scheffel, Global Banking & Markets, LondonAdvertisementRahul Sharma, Engineering Division, Menlo ParkEric Sheridan, Global Investment Research, New YorkSalil Sheth, Global Banking & Markets, New YorkJonathan Shugar, Global Banking & Markets, New YorkAdvertisementAlyson Shupe, Asset & Wealth Management, New YorkAaron Siegel, Global Banking & Markets, New YorkAdam Siegler, Global Banking & Markets, New YorkCraig Smart, Global Banking & Markets, New YorkAdvertisementAndre Souza, Global Banking & Markets, LondonThom Spoto, Asset & Wealth Management, West Palm BeachLesley Steele, Risk, LondonTeppei Takanabe, Global Banking & Markets, TokyoAdvertisementLaura van Alkemade, Global Banking & Markets, LondonDennis Walsh, Asset & Wealth Management, New YorkAlexandra Wilson-Elizondo, Asset & Wealth Management, New YorkSylvia Yeh, Asset & Wealth Management, New

Persons: Goldman Sachs, David Solomon, —, Solomon, John Waldron, Goldman, Michael Kovac, Beth Hammack, Stephanie Cohen, Katie Koch, Paris Benny Adler, Shahzad Ali, York Ash Ang, Singapore Lucia Arienti, London Matthew Armas, Patrick Armstrong, New York Sebastian Ayton, Paris Amitayush, London Rob Barlick Jr, David Bear, New York Amanda Beisel, Jeff Bernstein, New York Lyla Bibi, Anne Bizien, Tristan Blood, London Brittany Boals Moeller, Atlanta Marc Boheim, Chris Bonner, New York Kevin Boova, Oonagh Bradley, Timothy Braude, Steven Budig, Jacqueline Cassidy, New York Sorubh, New York Pamela Codo, Bracha Cohen, Shaun Cullinan, New York Marc d'Andlau, Paris Adam Davis, Matthew Doherty, New York Jason Eisenstadt, New York Ashley Everett, New York Alex Finston, Alison Flood, New York Arvind Giridhar, Ashwin Gupta, New York Sonia Gupta, Terry Hagerty, New York Robert Hamilton Kelly, Beach Axel Hoefer, Frankfurt Dylan Hogarty, Tim Holliday, London Kazuya Iketani, Kyle Jessen, Lotfi, New York Feroz Khosla, New York Larry Kleinman, New York Jared Klyman, Daniel Korich, New York Rebecca Kruger, New York Kosuke Kurosawa, Tokyo Shane Lee, Michael Leister, New York Matthew Leskowitz, New York Hilary Lopez, London Cedric Lucas, Mazen, New York Matthew Mason, Hong Kong Jans, Paris Patrick Moran, Leonie Morel, London John O'Connor, Steve Orr, New York Leke, Elizabeth Overbay, New York Jonathan Perry, Thomas Plank, Singapore Caitlin Pollak, Ling, Hong Kong Joe Porter, San Francisco Vishaal Rana, New York Alexandre Reinert, Monique Rollins, New York Marcos Rosenberg, Richardson Marc Schaffer, New York Jan Scheffel, Rahul Sharma, Eric Sheridan, New York Salil, New York Jonathan Shugar, Alyson, Aaron Siegel, New York Adam Siegler, New York Craig Smart, Andre Souza, London Thom Spoto, Palm Beach Lesley Steele, Laura van Alkemade, London Dennis Walsh, New York Alexandra Wilson, New York Sylvia Yeh, Piotr Zurawski, Emmalyse Brownstein, Reed Alexander Organizations: Service, Goldman, Business, Wall Street, Global Banking, Markets, Paris, New, Wealth Management, Asset, London, Atlanta, Compliance, San, Beach, Frankfurt, Corporate Treasury, Global Investment Research, Hong, Engineering Division, Solutions, Engineering, Menlo, Palm Beach Locations: Wall, New York, York, Singapore, London, Paris, Paris Amitayush Bahri, Miami, New, San Francisco, Tokyo, Calgary, Hong Kong

☆ 2 crypto tycoons are almost $15 billion richer after Trump's election victory
▼ + stars: | 2024-11-07 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Two crypto moguls' joint wealth rose by about $15 billion on the back of Trump's election victory. Binance's Chaopeng Zhao and Coinbase CEO Brian Armstrong added about $12 billion and $2.6 billion each. AdvertisementTwo cryptocurrency tycoons saw a near-$15 billion boost to their combined wealth on Wednesday as Donald Trump won the presidential election. One result was the world's 12 richest people grew more than $70 billion richer in a single day, per Bloomberg's wealth rankings. Exclude him and his 11 peers have grown a combined $505 billion richer this year — a figure that exceeds the market value of Oracle ($502 billion).

Persons: Binance's Chaopeng Zhao, Brian Armstrong, —, Donald Trump, Changpeng Zhao, Zhao, Elon, Binance, Elon Musk, Anthony Harvey, Kamala Harris, Musk, Larry Ellison, Berkshire Hathaway's Warren Buffett, Jeff Bezos, Bernard Arnault Organizations: Service, Bloomberg, Trump, Ethereum, Republican, Democratic, Oracle Locations: Solana, Berkshire

☆ AppLovin, top tech stock of the year, soars another 45% on earnings beat
▼ + stars: | 2024-11-07 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

AppLovin shares soared 45% on Thursday after the online gaming and advertising company issued guidance that was well above estimates and reported better-than-expected earnings and revenue. For the fourth quarter, AppLovin sees revenue of $1.24 billion to $1.26 billion, representing growth of about 31% at the middle of the range. The company said software platform revenue in the quarter increased 66% to $835 million, driven by improvements in AXON's models. Net income in the quarter increased 300% to $434.4 million, or $1.25 a share, from $108.6 million, or 30 cents a share, a year earlier. "AppLovin continues to impress with outsized revenue growth and incredible EBITDA conversion," analysts at Wedbush wrote in a report on Thursday.

Persons: It's, AppLovin, Wedbush, Adam Foroughi, it's, Foroughi, CNBC's CJ Haddad, Unity Organizations: Revenue

☆ Beyond ASML: Goldman reveals its refreshed list of top European stocks — giving one 50% upside
▼ + stars: | 2024-11-07 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +4 min

ASML's net bookings for the third quarter were 2.6 billion euros ($2.79 billion), below the 5.6 billion euros penciled in by Wall Street analysts. ASML expects net sales for 2025 to come in at the lower of half of the 30 billion euros and 35 billion euros range it previously predicted. Coca-Cola HBC Goldman is betting on Coca-Cola HBC, also known as CCH, given its solid top-lines and strong margin uplift. This phenomenon — coupled with an improving product pipeline across brands — has pushed analyst Richard Edwards to an "above consensus view" on JD's LFL (like-for-like) sales growth. Edwards also expects space expansion and acquisitions to contribute to an average 10% sales growth from 2025 to 2027, above the consensus average of 7%.

Persons: ASML, Goldman Sachs, Goldman, Cola HBC Goldman, Olivier Nicolai, Richard Edwards, Edwards, — CNBC's Michael Bloom Organizations: Wall Street, ASML, Heineken, Philips, Cola HBC, Hellenic Bottling Company, JD Sports, Coca, CCH, London Stock Exchange, — Locations: U.S, British

☆ Payments giant Adyen reports 21% jump in third-quarter sales
▼ + stars: | 2024-11-07 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Adyen reported a big miss on first-half sales Thursday. Adyen reported a jump in sales in the third quarter as the Dutch payments firm gained wallet share and added new customers, diversifying its merchant mix. The company, whose technology allows businesses to accept payments online and in-store, reported third-quarter net revenue of 498.3 million euros ($535.5 million), up 21% year-on-year on a constant currency basis. Payments firms saw a boost from an increase in online shopping during the height of the Covid-19 pandemic. But in recent years, companies such as Adyen have faced pressure from lower consumer spending.

Persons: Adyen Organizations: North Locations: U.S, Canada, Europe, East, Africa, North America

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