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☆ Airbnb CEO shares the best advice he's ever received—it's 'counterintuitive to almost everything everyone says’
▼ + stars: | 2023-05-24 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

A single piece of advice from an investor helped Airbnb CEO Brian Chesky grow his company from a struggling startup to an industry giant worth roughly $70 billion. That's according to Chesky himself, who told attendees at a recent Stanford Graduate School of Business event that it was "the best piece of advice I ever got." The advice: "Focus on 100 people that love you, rather than getting a million people to kind of like you," Chesky said. It came courtesy of Paul Graham, the co-founder of tech startup accelerator Y Combinator, who advised Airbnb's co-founders — Chesky, Joe Gebbia and Nathan Blecharczyk — to focus on a tiny audience of potential customers as they built their company. For early Airbnb, that meant creating experiences for guests that stood out from staying at a hotel or crashing on a couch.

☆ Nvidia chips away at Intel, AMD turf in supercomputers
▼ + stars: | 2023-05-22 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

Nvidia is the world's top maker of graphics processing units (GPUs), which are in high demand because they can be used to speed up artificial intelligence work. But Nvidia's GPU chips are typically paired with what is called a central processing unit (CPU), a market that has been dominated by Intel and AMD for decades. The University of Bristol system will be used for climate science and drug discovery research, among other things. That's actually six times more performance and energy efficiency than the university's previous system, Isambard 2," Ian Buck, general manager and vice president of accelerated computing at Nvidia, said during a press briefing. Reporting by Stephen Nellis in San Francisco; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
▼ + stars: | 2023-05-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

These are the top 10 stocks held in Berkshire Hathaway's $325 billion stock portfolio as of March 31. With various portfolio changes in the first quarter of the year, Berkshire Hathaway's top 10 holdings of US stocks has shifted, though Apple still represents a near 50% of the portfolio. In fact, the top 10 positions in Berkshire Hathaway's portfolio make up a massive 90.2% of its entire portfolio. These are the top 10 stocks held in Berkshire Hathaway's $325 billion US stock portfolio as of March 31. American ExpressCredit cards fill a display at American Express headquarters John Moore/Getty ImagesTicker: AXPPosition: $25.0 billionPercent of portfolio: 7.7%2.

☆ Autonomy founder Mike Lynch extradited to the U.S. to face fraud charges
▼ + stars: | 2023-05-12 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Mike Lynch, former chief executive officer of Autonomy Corp departs the Rolls Building on June 27, 2019 in London, England. LONDON — British tech entrepreneur Mike Lynch has been extradited to the U.S. to face fraud charges in relation to the sale of his software company Autonomy to Hewlett Packard . He face charges of securities and wire fraud in relation to the sale of his company Autonomy to HP for $11 billion. Lynch isn't the first Autonomy employee to face charges in the U.S. Some in the U.K. tech industry believe that Lynch should not have been extradited.

☆ Sales, spins and splits — what are the differences and why do they matter for investors like us?
▼ + stars: | 2023-04-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +20 min

Investors may get one share in the spun-out entity for every share of the parent company they owned. What's left of J & J will be focused on pharmaceuticals and medical technologies, which were responsible for over 84% of the company's total 2022 revenue of $94.94 billion. It underscores that once free of the parent company tethers a divested company can chart its own destiny. Those priorities may not have necessarily been wrong when considering J & J as the overall enterprise. We believe J & J and Danaher are poised to deliver two more examples.

☆ The class of 2023 wants jobs that match their personal values and interests, even if it means less money
▼ + stars: | 2023-04-29 | by ( Ethan Dodd | ) www.businessinsider.com time to read: +7 min

Today's college grads want work that speaks to their values and interests. Today's availability of jobs mean Gen Z can afford work that pays less. Not to mention, the rise of remote work means "you're not forced to live in the most expensive city," Krembs said. Companies are struggling to appeal to Gen ZJust after Gen Z started graduating from college and entering the workforce, large companies started making progressive commitments. Perhaps unsatisfied with the big companies on offer, Gen Z is taking on side hustles and freelancing to work towards their values and interests.

☆ Here are the most overbought and oversold S&P 500 stocks, including several tech names
▼ + stars: | 2023-04-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

One metric to determine if a stock is overbought or oversold is the "relative strength index," which measures the magnitude and speed of price moves. An equity with a 14-day RSI under 30 is considered oversold, which means it may be an opportunity to buy. Meanwhile, those with a 14-day RSI above 70 are considered overbought — and the names could be due for a pause. CNBC Pro screened for S & P 500 stocks in both the overbought and oversold territory, based on their RSI. Valero Energy has the lowest 14-day RSI on the list, at 16.67.

☆ Anyone can now use Snapchat's 'My AI' chat bot and the memes about 'horrifying' messages have arrived
▼ + stars: | 2023-04-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Snapchat launched its My AI feature to Snapchat+ subscribers in February. Now that the chat bot is available to all, memes and concerns about the feature are emerging. Snapchat's My AI chat bot is now available to non-paying users, and it's already the subject of hilarious memes and genuine concerns. As of Sunday , My AI is available for regular Snapchat users to chat to, and many are already posting about their strange conversations. Those who've tested out the feature took to TikTok to share their jokes and concerns about the chat bot.

☆ Autonomy founder Lynch's appeal against US extradition rejected by UK court
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +3 min

He had appealed to the High Court to overturn a decision by Britain's home secretary (interior minister) to order his extradition in January. But two High Court senior judges did not even grant him permission for an appeal. "The United States’ legal overreach into the UK is a threat to the rights of all British citizens and the sovereignty of the UK," he said in a statement. HP sued Lynch in London's High Court following the deal. Hussain was convicted of fraud in the United States and sentenced to five years in prison in 2019.

☆ Theranos' Elizabeth Holmes loses bid to stay out of prison
▼ + stars: | 2023-04-11 | by ( ) www.cnbc.com time to read: +4 min

Disgraced Theranos CEO Elizabeth Holmes has been rebuffed in her attempt to stay out of federal prison while she appeals her conviction for the fraud she committed while overseeing a blood-testing scam that exposed Silicon Valley's dark side. The judge's decision means Holmes, 39, will have to surrender to authorities April 27 to start the more than 11-year prison sentence that Davila imposed in November. Holmes could still file another appeal of the ruling Davila's latest ruling, a maneuver that her co-conspirator at Theranos – Ramesh "Sunny" Balwani – successfully used to delay his scheduled March 16 date to begin a nearly 13-year prison sentence. Davila has recommended that Holmes serve her sentence in a Byron, Texas, prison. Although they had separate trials, Holmes and Balwani were accused of essentially the same crimes centered on a ruse touting Theranos' blood-testing system as a breakthrough in health care.

☆ The commercial real estate market is showing some cracks
▼ + stars: | 2023-04-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

But before we get too intergalactic, this morning we're stopping off in the commercial real estate space. In the wake of March's bank tumult, commercial real estate has frequently been noted as the next domino to fall — and one corner of the market is already showing signs of stress. A few things to remember:Higher interest rates have made it more expensive for both American households and large commercial real estate owners to buy or refinance property. Small and medium-sized banks hold 80% of US commercial real estate debt outstanding. What are the biggest risks, in your view, facing the commercial real estate market for the second quarter of 2023?

☆ This week's top S&P 500 stocks include First Republic and this casino owner
▼ + stars: | 2023-03-31 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The S & P 500 and Nasdaq Composite are up about 2.9% and 2.8%, respectively. Meanwhile, this month, the Dow is higher by more than 1.3% and the S & P 500 is up 2.8%. Energy stocks outperformed this week on the back of higher oil prices, with the S & P 500 Energy Index up by almost 6%. All 11 sectors in the S & P 500 advanced this week. Caesars Entertainment was the best performer in the S & P 500.

☆ This isn't tech's first boom and bust cycle. Here's what we can learn from the previous bubbles: Stay agile and never rest on your laurels.
▼ + stars: | 2023-03-23 | by ( Asia Martin | ) www.businessinsider.com time to read: +6 min

Every previous boom and bust in tech over the decades has resulted in winners and losers. The ones that survived were those that stayed agile, kept focused on innovation, and made sure their foundations were solid. Whichever way you slice it, one thing is certain, the valuations of most major tech companies were high — and now they're not. For Dr. Govindarajan, the theme is austerity, telling Insider that tech "can't afford to be wasteful" anymore. Some people would've lost," said Dr. Govindarajan.

☆ These 74 stocks across 5 categories of AI are the top picks from the sector's leading fund managers.
▼ + stars: | 2023-03-18 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

☆ 2023 Mercedes-AMG EQE Sedan: A Cure for the Creepily Quiet EV
▼ + stars: | 2023-03-17 | by ( Dan Neil | ) www.wsj.com time to read: +1 min

ORCHESTRAL MANEUVERS The 2023 Mercedes-AMG EQE Sedan is a high-performance version of the Mercedes-Benz EQE Sedan, with about 50 percent more power (up to temporary maximum of 677 hp) than the MB EQE 500 4Matic and less range (225 miles, or about 16% less). At a maximum recharging rate of up to 170 kW, the car can regain approximately 112 miles in 15 minutes. In the decade since the Tesla Model S first appeared, car companies have struggled to address what customers and critics have claimed is a disconcerting quiet in electric vehicles—an impassive, appliance-like response that psychologists might call a flat affect. The industry spent a century trying to take noise, vibration and harshness (NVH) out of automobiles, to isolate the occupants from the exertions of the powertrain. Now, with electric motors and batteries, the most off-the-shelf commuter car can waft with the serenity of a Packard with a straight-eight.

☆ Autonomy founder Lynch fights extradition to US on fraud charges
▼ + stars: | 2023-03-15 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, March 15 (Reuters) - Tech entrepreneur Mike Lynch asked a London court to block his extradition to the United States to face criminal charges over Hewlett Packard's $11 billion acquisition of his software company Autonomy, arguing he should be prosecuted in Britain. Lynch – the co-founder of Autonomy, who was once hailed as Britain's answer to Bill Gates – faces 17 charges over the 2011 takeover, which was one of Britain's biggest tech deals. Britain's interior ministry on the same day ordered Lynch's extradition to the United States. Bailin also gave updated details of HP's civil lawsuit against Lynch and Hussain, who was jailed in a San Francisco court for five years in 2019. Lynch intends to apply for permission to appeal against the ruling on HP's lawsuit, Bailin said in court filings.

☆ US SEC says IT services firm DXC made 'misleading' non-GAAP disclosures
▼ + stars: | 2023-03-14 | by ( Kanishka Singh | ) www.reuters.com time to read: +1 min

WASHINGTON, March 14 (Reuters) - The U.S. Securities and Exchange Commission said on Tuesday that IT services firm DXC Technology (DXC.N) had made misleading disclosures about its non-GAAP financial performance in multiple reporting periods from 2018 until early 2020. DXC said it had resolved the matter and cooperated with the SEC. DXC materially increased its reported non-GAAP net income by negligently misclassifying tens of millions of dollars of expenses as non-GAAP adjustments, the SEC added. "DXC Technology has resolved this legacy matter, which related to the presentation of non-GAAP M&A costs principally related to the 2017 merger that formed DXC," the company said in an emailed statement on Tuesday. DXC was founded in 2017 when Hewlett Packard Enterprise (HPE.N) spun off its enterprise services business.

☆ Ritchie founder perfects disappointed dad routine
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

The company stretching for its acquisition has done something worse: It disappointed dad. Ritchie investors are expected to approve the fiercely contested deal on Tuesday, a surprising outcome, especially to company co-founder David Ritchie. The pair didn’t speak out before because they assumed, given the weight of opposition to the deal, it was dead. If she succeeds, shareholders better hope her optimistic deal math holds up. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 3, 2023. The U.S. 10-year Treasury yield fell on Friday after touching a four-month high in the previous session but stayed above the 4% level. Nine of the 11 major S&P sectors were higher, with communication services (.SPLRCL) and technology (.SPLRCT) indexes leading gains. Apple Inc rose 1.9% after Morgan Stanley said the stock could rally more than 20% this year on potential hardware subscription. Dell Technologies Inc (DELL.N) slipped 0.9% after it forecast current-quarter revenue and profit below Wall Street estimates, hit by an ongoing demand slump in its PC business.

☆ Futures rise as yields retreat from highs
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +3 min

The U.S. 10-year Treasury yield fell on Friday after touching a four-month high in the previous session but stayed above the 4% level. Central bank officials including Bostic and Fed Dallas President Lorie Logan are scheduled to speak later in the day. ET, Dow e-minis were up 82 points, or 0.25%, S&P 500 e-minis were up 13 points, or 0.33%, and Nasdaq 100 e-minis were up 35 points, or 0.29%. Hewlett Packard Enterprise (HPE.N) rose 2.3% after the laptop maker gave an upbeat full-year earnings forecast. Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves premarket: C3.ai, Zscaler, ChargePoint and more
▼ + stars: | 2023-03-03 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Check out the companies making headlines before the bell:C3.ai — Shares surged 17% after C3.ai reported third-quarter results that topped expectations. It also reported revenue of $66.7 million, surpassing expectations of $64.2 million. The company reported adjusted earnings of 63 cents per share on revenue of $7.81 billion. Zscaler — Shares of the cybersecurity company slid 11% in premarket trading despite Zscaler beating estimates on the top and bottom lines for the fourth quarter. The wholesale retailer reported revenue of $55.27 billion, less than the consensus estimate of $55.54 billion, according to Refinitiv.

☆ Stocks making the biggest moves after hours: C3.ai, Zscaler, ChargePoint, Marvell Technology and more
▼ + stars: | 2023-03-02 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

The company posted a loss of 6 cents per share, compared to analysts' estimates for a 22 cent loss. Dell's revenue also exceeded expectations, coming in at $25.04 billion versus analysts' estimates of $23.39 billion. Marvell Technology — Shares of the semiconductor company shed 6% after the company posted mixed results for the fourth quarter. Meanwhile, its revenue of $1.42 billion topped the $1.40 billion analysts had expected. Hewlett Packard also posted revenue of $7.81 billion, beating estimates of $7.43 billion.

☆ Betting against Jim Cramer just became a lot easier with the launch of a new ETF that shorts the TV host's stock picks
▼ + stars: | 2023-03-02 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

"Mad Money" host Jim Cramer makes a lot of stock market calls, and not all of them pan out. The Inverse Cramer ETF bets against the financial pundit, by shorting stocks he's bullish on. The product is the handiwork of the money manager known for shorting Cathie Wood's stock picks. The Inverse Cramer ETF (SJIM) shorts equities the well-known financial pundit is bullish on. The Inverse Cramer ETF is an actively managed portfolio that carries an equally-weighted 20-50 names, Tuttle told Bloomberg, with the product having an expense ratio of 1.2%.

☆ Morning Bid: Ten-four, Treasury yields soar
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

The remarkable sight of 10-year Treasury yields back above 4% for the first time in almost four months is only matched by two-year yields at 15-year highs stalking 5%. Weekly jobless claims on Thursday and the latest Fed speakers take on unusual importance in such a febrile rates market. And 6% Fed rates that seemed fanciful only a month ago are now being openly discussed by banks. Despite year-on-year oil prices now tracking declines of 25%, European inflation fears are a key feature of this week's nervousness. Benchmark German 10-year bond yields soared to 11-year highs at 2.77%.

☆ Salesforce: A New Dawn. CEO Marc Benioff is pivoting the cloud company from family to profitability.
▼ + stars: | 2023-03-02 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

I'm Diamond Naga Siu, and I'm not just talking about the Selena/Hailey 'mean girls' saga — I'm fascinated by the Salesforce spectacle. CEO Marc Benioff recently oversaw the departure of two leading candidates to inherit the Salesforce throne. Now, under their careful watch, Benioff needs to guide the company through a cost-cutting period — something he's never done before. This is quite the turn, considering he was still emphasizing Ohana after laying off 10% of the company in January. CEO Marc Benioff announced on Wednesday that the company is starting a "new day."

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