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☆ A big cloud hangs over Big Tech earnings: Is all this AI spending worth it?
▼ + stars: | 2024-07-30 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

In his Sunday column , Jim Cramer wrote that these earnings reports will test that rotation narrative. Another way to help "take the sting away" is management teams providing a rationale behind the spending, Jim also wrote Sunday. Alphabet's second-quarter capex of $13.2 billion was up 91% year over year and higher sequentially from $12 billion in the first quarter. Alphabet's full-year capex spending is expected to total nearly $50 billion, according to estimates compiled by FactSet. Investors fretting about AI spending is not entirely new.

Persons: –, Jim Cramer, Jeff Marks, Jim, Alphabet's, Sundar Pichai, FactSet, Apple, Meta's, Goldman Sachs, Jim Covello, Covello, Jim Cramer's Organizations: Big Tech, Microsoft, Apple, KeyBanc, Markets, Google, Meta, stoke, Wall Street, Wedbush Securities, CNBC, Bloomberg, Getty Locations: capex

☆ How Flavor Flav became a sponsor and 'official hype man' of USA Water Polo at the Paris Olympics
▼ + stars: | 2024-07-29 | by ( Nicolas Vega | ) www.cnbc.com time to read: +3 min

The American stealing the show at the Paris Olympics is Flavor Flav. The 65-year-old performer, whose real name is William Jonathan Drayton Jr., has been a fixture at the 2024 games thanks to his partnership with USA Water Polo. The Public Enemy rapper has embraced his new role as "official hype man" of the women's team, appearing poolside at the team's matches wearing a water polo cap and Team USA branded waterproof clock necklace. "By sponsoring a water polo team and helping these girls out, this is bigger than me winning a Grammy." In a comment on the post, Flavor Flav committed his support to the team that has won gold for the past three Olympics.

Persons: Forget Simone Biles, Caeleb Dressel, Flav, William Jonathan Drayton Jr, I've, Maggie Steffens, aren't, imma Organizations: Paris, USA Water Polo, USA, USA Water, NBC, Roll Hall of Famer, Associated Press, CNBC Locations: Paris

☆ Is the Seine Clean Enough to Swim? Olympic Triathletes Wait on Testers.
▼ + stars: | 2024-07-29 | by ( Catherine Porter | ) www.nytimes.com time to read: +1 min

The promise was they would swim in the Seine. So far this year, no Olympian has been able to do so. After the heavy rains on the weekend, swimming officials at the Paris Games have canceled both familiarization swims for triathletes eager to try out the river before the men’s and women’s individual events set for this week. Each time, poor water quality levels were blamed. “We are confident we will be able to hold the competition tomorrow,” Etienne Thobois, the chief executive of the Paris 2024 organizing committee, said at a news conference on Monday.

Persons: ” Etienne Thobois, “, Anne Hidalgo Organizations: Paris Games Locations: Seine, Paris, ”

☆ Multi-agent systems are the next big thing in AI. Here's why VCs at NEA, Mayfield Fund, and Foundation Capital are excited.
▼ + stars: | 2024-07-29 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +6 min

Startups are building AI agents that collaborate to fill out forms, dial customer service reps, and order food delivery. These "multi-agent systems" are the next hot thing, according to investors from NEA, Mayfield Fund, and Foundation Capital. Multi-agent systems are distributed systems of multiple specialized AI agents that work together toward a collective goal. AdvertisementIn contrast, multi-agent systems are built on top of LLMs and are designed to execute a task from start to finish. AdvertisementMayfield Fund's Navin Chaddha is optimistic — AI agents will serve as teammates to workers.

Persons: —, Spike Jonze's, that's, OpenAI's, NEA's Madison Faulkner, Devin, Warren Hui, Nitta, Satya Nitta, Ashpreet Bedi, Faulkner, Mayfield Fund's Navin Chaddha, …, It's Organizations: Service, NEA, Mayfield Fund, Foundation Capital, Business, Soul Ventures, Nvidia Locations: Italy, PitchBook, Japan

☆ Popular weight-loss and diabetes medications show promise for curbing smoking, study suggests
▼ + stars: | 2024-07-29 | by ( Deidre Mcphillips | ) edition.cnn.com time to read: +4 min

But experts emphasize that much more research is needed before using the medications off-label for smoking cessation. In a study published Monday in the journal Annals of Internal Medicine, researchers tracked the medical records of more than 200,000 people who started medications to treat type 2 diabetes, including nearly 6,000 people using semaglutide medications such as Ozempic. Over the course of a year, people who started using semaglutide were significantly less likely to have medical encounters for tobacco use disorders, prescriptions for medications for smoking cessation or counseling for smoking cessation than those who started other diabetes medications such as insulin and metformin. “A signal like this one cannot be ignored, particularly because of how consequential it could be if, in fact, we can have now a new medication for treating smoking cessation,” she said. But fewer than 1 in 10 adult cigarette smokers succeed in quitting each year, according to the new study, and options for smoking cessation treatment haven’t changed much in decades.

Persons: Disha, ”, Nora Volkow, ” Volkow, Dr, Sanjay Gupta, Volkow Organizations: CNN, Internal Medicine, Endeavor Health, National Institute on Drug, Get CNN, CNN Health, US Centers for Disease Control, American Cancer Society Locations: Chicago, United States

☆ Alma Powell, wife of late Secretary of State Colin Powell, dies at 86
▼ + stars: | 2024-07-29 | by ( Karl De Vries | ) edition.cnn.com time to read: +2 min

CNN —Alma Johnson Powell, the wife of the late Secretary of State Colin Powell, has died. Her death was confirmed by the former diplomat’s chief of staff and family spokesperson, Peggy Cifrino. The Powells were married for nearly 60 years, and Alma was by her husband’s side during his remarkable and historic military career. I think of the military as family,” Alma Powell once said. Alma Powell “is survived by her three children, Michael, Linda, and Annemarie and their families, her niece and two nephews, and countless beloved extended family members and friends,” Cifrino said in a statement.

Persons: Alma Johnson Powell, Colin Powell, Peggy Cifrino, Alma, Ronald Reagan, George W, ”, ” Alma Powell, “, Powell, John F, Barack Obama’s, Alma Powell, Alma Powell “, Michael, Linda, Annemarie, ” Cifrino, Jamie Gangel Organizations: CNN, Joint Chiefs, Staff, Promise, National Museum of, Kennedy Center, Performing Arts, Advisors, Black Colleges, Universities, America’s Locations: Vietnam, Alma, Washington

☆ This under-the-radar drug stock is undergoing a long-term turnaround, according to the charts
▼ + stars: | 2024-07-29 | by ( Katie Stockton | ) www.cnbc.com time to read: +7 min

—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.

Persons: drugmaker, VTRS, Katie Stockton Organizations: CNBC, NBC UNIVERSAL, Fairlead, CNBC Pro, Securities

☆ As litigation flares against Michael Shvo's property empire, his German backers feel the heat
▼ + stars: | 2024-07-29 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +9 min

This story is available exclusively to Business Insider subscribers. Advertisement"For no reason, I felt targeted in a very toxic and vulgar way," Goodman previously told Business Insider. In a previous response to Business Insider, Shvo said he had no recollection of that call. The Goodmans also named the Mandarin Oriental hotel brand as a defendant, stating that 685 Fifth Avenue's "service standards are severely lacking and in no way Mandarin Oriental caliber." A spokeswoman for Mandarin Oriental did not immediately respond to a request for comment.

Persons: —, Michael Shvo, Shvo's, Shvo, Shvo –, John Goodman, Diane, Belinda Burgmeier, Burgmeier, Goodman, Jennie Enterprise, Enterprise, Serdar, Bilgili, BVK, Rainer Komenda Organizations: Service, Business, Universal Investment, Deutsche Finance, Core, Shvo, BVK, Core Club, Bilgili, San Locations: Manhattan, New York, Munich, San Francisco, Milan, Italy, Turkish, BVK, Wabash, Chicago, Shvo, Raleigh, Los Angeles

☆ Insider Today: The world's meanest app
▼ + stars: | 2024-07-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Buying a home is an absolute disaster, but this 19-year-old real-estate agent has a unique way of showing you homes quickly. On the agenda today:This story is available exclusively to Business Insider subscribers. Getty Images; Jenny Chang-Rodriguez/BIShow me the profitsAs businesses continue to figure out ways to leverage generative AI, investors are starting to wonder: How can this help the bottom line? The world's meanest app.

Persons: —, it's, Matt Turner, Stocks, Jenny Chang, Rodriguez, Elon Musk's, Alyssa Powell, They're, Altman's, Alvaro Dominguez, — Mark Moran Organizations: Service, Business, Getty, Apple, Microsoft, Meta, Nvidia, Lazard

"For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said at this year's Bitcoin Conference in Nashville. Kennedy went further than Trump, promising to establish a 4 million bitcoin strategic reserve to match the country's current stake in gold, some of which is held near the military base at Fort Knox. But Trump's reservation speaks to the complications of promising a bitcoin strategic reserve on par with the gold standard. An executive order would not be enough to bring a U.S. bitcoin reserve into existence. That existing bitcoin stockpile could act as the foundation for the bitcoin strategic reserve, which the U.S. government would build on by regularly buying a certain number of bitcoin.

Persons: Donald Trump, Marco Bello, Trump, Trump's, didn't, Tyler, Cameron Winklevoss, Kid Rock, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Robert F, Kennedy Jr, Kennedy, bitcoin, Sen, Lummis, Per Sen, Joe Biden, Kamala Harris, Fred Thiel Organizations: Reuters NASHVILLE —, Republican, U.S . Marshals Service, Trump, U.S . Treasury, Bitcoin Conference, Saturday, Wyoming, U.S, Treasury Department, House, Independents, Democratic, U.S . Securities, Exchange Commission, U.S . Locations: Charlotte , North Carolina, U.S, Nashville, United States of America, Germany, Fort Knox, Washington, United States, bitcoin

☆ These drugmakers are catching up to Eli Lilly and Novo Nordisk in weight loss treatments
▼ + stars: | 2024-07-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

With billions at stake, that's pretty much been a guarantee facing the current market leaders, Eli Lilly and Novo Nordisk , from the start. Their updates are likely to be joined by others in the coming months even as today's incumbents develop their own next-generation weight loss treatments. Other analysts have also grown more optimistic about the future of weight loss treatments. Orforglipron, a once-a-day oral GLP-1 drug that Lilly is working on, had shown a 3% weight loss at 4 weeks. The company is also exploring whether the weight loss treatment could be given only once a month.

Persons: Eli Lilly, drugmakers Roche, Lilly, Denmark's, Trung Huynh, Huynh, Rajesh Kumar, Kumar, Novo, Roche, Roche ADRs, Justin Zelin, Zelin, Viking's, HSBC's Kumar, Novo aren't, —, Nick Wells Organizations: Novo Nordisk, Viking Therapeutics, UBS, HSBC Global Research, Carmot Therapeutics, Food and Drug Administration, Viking, European Association for, Diabetes, Pfizer, Amgen, Therapeutics Locations: Swiss, Novo, San Antonio, Spain

☆ The Right-Wing Dream of ‘Self-Deportation’
▼ + stars: | 2024-07-27 | by ( Emily Bazelon | ) www.nytimes.com time to read: +2 min

The Republican National Convention was full of talk of surging “migrant crime,” even though such a rise does not exist. But there is one anti-immigration proposal on the right that Trump doesn’t talk about publicly. It’s a spin on “self-deportation.” The term — for provoking immigrants to leave of their own volition — has gone out of fashion but the idea continues to lurk. In February, the Heritage Foundation, a right-wing Washington think tank that’s become central to mapping out policy objectives for the next Republican administration, recommended requiring public schools to collect data on immigration status when students enroll. Heritage also said schools should charge tuition for children who are undocumented or who have a parent who lacks legal status.

Persons: Donald Trump, ”, Trump, Biden’s, hasn’t, — Organizations: Republican National Convention, Trump, Heritage Foundation, Republican, Heritage Locations: Washington

☆ A doll, old letters and house keys: How displaced Palestinians are holding onto identity
▼ + stars: | 2024-07-27 | by ( Billy Stockwell | Sana Noor Haq | ) edition.cnn.com time to read: +14 min

“I cried for my area, my house, and everything around me,” Al-Hasanat told CNN in June. Several Palestinians told CNN they could take only their most significant personal items on long and hazardous journeys of displacement. Israeli strikes destroyed several of the university’s buildings in the early days of the war, Palestinian news agency WAFA reported. Students told CNN days spent on campus have been replaced by repeated displacement and bloodshed. Courtesy Raghad Ezzat HamoudaWith no end to the war in sight, other Palestinians told CNN they have held onto their house keys as a reminder of home.

Persons: Ahmed Al, Hasanat, Al, ” Al, “ Ayten, Dad, ’, ‘, ’ ”, Khan Younis, Ahmad Salem, “, ” Ahmed Al, Fadi Adwan, WAFA, ”, Haya Ismail, Refaat Alareer, Ismail, Dina, Dr, ” Ismail, Fadi, Rochelle Davis, –, Adwan, Ezzat Hamouda, Hamouda, Tamam –, Raghad Ezzat, Scott Webster, Israel, Davis, Samah, Ayten Organizations: CNN, United Nations, Bloomberg, Getty Images Israel, Hamas, Ministry of Health, Islamic, of Gaza, UN, Ministry of Education, Higher, Students, Georgetown University, “, Palestine, IDF, Government Media Office, Museum of, Palestinian, University of Sydney, Amnesty, Getty, Shifa, UNICEF, Government Media, Palestinian Ministry of Health, West Bank Locations: Gaza, Al, Mughraqa, Palestine, Israel, Palestinian, Rafah, Gaza City, Deir Al, Beit Lahia, Ramallah

☆ Elon Musk made another big promise he may not be able to keep
▼ + stars: | 2024-07-27 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +1 min

Amid a lackluster earnings call, Tesla CEO Elon Musk said he plans to make Dojo compete with Nvidia. It's not the first time Musk has made an extremely optimistic promise about what his tech can do. AdvertisementElon Musk made another big promise this week during a lackluster earnings report that sent Tesla stock tumbling more than 7% before he logged off the call and didn't recover all week. The Tesla CEO said the company will "double down" on developing its Dojo supercomputer, in hopes of competing with the chip-producing giant Nvidia. "We do see a path to being competitive with Nvidia with Dojo," Musk told investors and analysts during Tuesday's call.

Persons: Elon Musk, —, Musk Organizations: Nvidia, Service, Dojo, Business

☆ Some people may love to abuse Costco's generous returns policy, but it's a genius business decision
▼ + stars: | 2024-07-27 | by ( Alexandra Bacon | ) www.businessinsider.com time to read: +5 min

Read previewA big perk of a Costco membership is the unlimited returns offered by the company. While the returns policy on electronic goods is now 90 days, until 2007, Costco members had an unlimited returns policy on electronic goods — excluding personal computers. It's far from the only example of Costco returns. Bean used to offer a legendary lifetime returns policy but switched to a one-year return limit in 2018 after some customers abused it. Shoshy Ciment/Business InsiderCostco's business model relies on maintaining customer loyalty, and unlimited returns help.

Persons: —, Yuliana Martinez, Louis Orellana, Bean, Shoshy, Neil Saunders, Saunders, Katherine Black, Kearney, Gina Logan, Logan Organizations: Service, Costco, Business, GlobalData

Since Harris kicked off her presidential campaign, there’s been a string of good news for the US economy. Harris will have Biden’s mostly strong economy to run on. By June 2021, Biden’s sixth month in office, the nation’s inflation rate jumped to more than 5%. After the Federal Reserve hiked interest rate hikes to a 23-year high to stamp out inflation, the economy — eventually — started to run at a slower pace. The Biden administration canceled $168 billion in student loan debt for 4.8 million Americans.

Persons: Joe Biden, Biden, Kamala Harris, Harris, there’s, Biden’s, —, hasn’t, Evan Vucci, Eros Hoagland, Getty, Lina Khan, Jonathan Kanter, Stocks Organizations: CNN, White House, House, Federal, Trump, Biden, Federal Reserve, Gross, Commerce Department, of Labor Statistics, Infrastructure Investment, Jobs, AFL, National Labor Relations Board, United Auto Workers, Union, AP Relief, American, ARPA, Medicare, University of North, Hill, Apple, Google, Federal Trade Commission, Department, FTC, Activision, Big Tech, Justice Department, Fed Locations: Ukraine, Van Buren Township , Michigan, University of North Carolina, America, Valley, Silicon Valley

☆ The Olympics Have Arrived
▼ + stars: | 2024-07-27 | by ( Melissa Kirsch | ) www.nytimes.com time to read: +2 min

It has been only three years since the last summer Olympics: the 2020 Tokyo Games, you’ll recall, were held in the summer of 2021. Now the Olympics return with untold opportunities to geek out on sports you haven’t thought about for several years, or ever. Broadcast coverage of the Olympics makes this transformation easy. I’m a total sucker for a hyperemotional documentary featurette on that gymnast whose family sacrificed everything for her Olympic dreams. “One of the strangest things I’ve ever seen an animal do,” Alex had told me, and I concurred.

Persons: Bruce Springsteen …, I’ve, Katie Ledecky’s, she’s, Alex Marshall, Jagerbomb, ” Alex, Tom Jones, Alex wasn’t Organizations: YouTube Locations: Tokyo, Paris

☆ Thailand plans to give $275 cash handouts to 50 million low-income citizens
▼ + stars: | 2024-07-26 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +1 min

It will give $275 to about 50 million people, more than two-thirds of the population. The prime minister said the program would cost $13.7 billion and stimulate a struggling economy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThailand is the latest country to experiment with a cash handout program, hoping it will help its economy recover from a pandemic-induced slump. Prime Minister Srettha Thavisin said the program — called "Digital Wallet" — will offer payments of 10,000 baht, or about $275, to anyone making less than 840,000 baht, or $23,000, a year.

Persons: —, Srettha Thavisin, Thavisin Organizations: Service, Business Locations: Thailand

☆ CrowdStrike CEO says 97% of Windows sensors back online after major outage
▼ + stars: | 2024-07-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Harun Ozalp | Anadolu | Getty ImagesCrowdStrike CEO George Kurtz said that over 97% of Windows sensors are back online after an update from the cybersecurity firm caused one of the world's biggest IT outages. Last week, CrowdStrike issued a routine update to its users around the world — which mainly comprise large businesses — that had a bug which caused Microsoft's Windows operating system to crash. Many users woke up on Friday to a blue screen error on Windows. The company's share price has been hammered since the incident, as CEO Kurtz looks to contain the reputational fallout. "I am deeply sorry for the disruption this outage has caused and personally apologize to everyone impacted.

Persons: Harun Ozalp, George Kurtz, Kurtz, CrowdStrike Organizations: Microsoft, Anadolu, Getty, LinkedIn Locations: Ankara, Turkey

☆ TikTok is betting its future on e-commerce. Should it?
▼ + stars: | 2024-07-26 | by ( Dan Whateley | Sydney Bradley | ) www.businessinsider.com time to read: +8 min

From conversations with e-commerce analysts, TikTok Shop partners, sellers, and creators, it's clear that Shop is growing steadily in the US and driving meaningful sales for some brands. TikTok Shop is also showing strong momentum in regions outside the US that have embraced social shopping more, like Southeast Asia. Order-tracking platform Route saw global order volume on TikTok Shop grow a modest 35% between January and June. AdvertisementWhat's working for TikTok ShopWell-timed promotional campaigns and live selling have bolstered TikTok Shop's growth this year, agency sources told BI. TikTok Live has become an e-commerce hub for all types of sellers, including pre-owned luxury retailer What Goes Around Comes Around, which has a streaming studio in its store.

Persons: —, influencers, TikTok, it's, It's, Nicole Rechtszaid, Steele, Pena, Rechtszaid, Dan Whateley, Julian Reis, SuperOrdinary, Reis, we've, Michael Yamartino Organizations: Service, Business, TikTok Shop, TikTok, Ghost Agency, Amazon's, livestreams Locations: Southeast Asia, Paris, Maybelline New York, Asia, China

☆ Rohan Bopanna’s path to the Olympics, via a Grand Slam and doubles world No 1
▼ + stars: | 2024-07-26 | by ( Matthew Futterman | ) www.nytimes.com time to read: +15 min

He needed to practice Iyengar yoga: a style that focuses on alignment. There, he came to know the father of Mahesh Bhupathi, one of India’s most successful players and a Grand Slam doubles champion. Polamarasetty told Bopanna that his knee wasn’t his problem. The kismet of Iyengar might have saved his knees, but none of the rest — the first Grand Slam title, the being doubles world No. Bopanna’s partner, Matwe Middelkoop, wanted to play with another Dutchman to better prepare for the Olympics and Davis Cup.

Persons: Rohan Bopanna’s, He’d, Matthew Ebden, Bopanna, Sriram Balaji, Fabien Reboul, Edouard Roger, Vasselin, Elsa, Getty, ” Bopanna, Rohan Bopanna, Bill Gates, Paul Allen, didn’t, Mohan Polamarasetty, Jaya, Polamarasetty, Iyengar, Mohan, “, ”, Bopanna’s, Clive Brunskill, Mahesh Bhupathi, Bhupathi, Boppanna, Haq Qureshi, Qureshi, Matthew Stockman, Prince Albert in, “ It’s, ” Polmarasetty, Max Purcell, Matwe Middelkoop, Ebden, Scott Davidoff, Supriya, Tridha, ” Davidoff, William West, Daniel Goldfarb, Shi Tang, Daniel Pockett Getty Organizations: All England Club, Olympics, Microsoft, University of Washington, Iyengar, Google, Jaya, Aisam, Getty, Pak Express, U.S ., Peace, Davis, Getty Images Locations: India, Coorg, Bangalore —, Bangalore, Pune, Chennai, Pakistan, South Asia, Prince Albert in Monaco, Australia, AFP

☆ Kamala Harris: How her warp-speed campaign launch has changed the 2024 race
▼ + stars: | 2024-07-26 | by ( Eric Bradner | ) edition.cnn.com time to read: +15 min

CNN —The five days since Vice President Kamala Harris’ campaign launched at warp speed have remade the 2024 race – and given Democrats new hope of preventing a second Donald Trump presidency. Fundraising exploded, with Harris’ campaign saying she raised $126 million between Sunday afternoon and Tuesday evening. And Democrats were more eager to devote their own time to working to elect Harris: More than 100,000 people signed up to volunteer for her bid, and more than 2,000 applied for campaign jobs, Harris campaign chair Jen O’Malley Dillon said in a Wednesday memo. The strength of Harris’ launch has at times surprised even the former Biden campaign staffers who on Sunday suddenly found themselves working for what was converted into the Harris campaign. Biden’s campaign believed his path to 270 Electoral College votes ran through the “blue wall” states – Michigan, Pennsylvania and Wisconsin.

Persons: Kamala Harris ’, Donald Trump, Harris, Harris ’, Jen O’Malley Dillon, Trump, It’s, Ron Bieber, “ I’ve, ”, she’s, Joe Biden, Biden, Harris hasn’t, “, Base Andrews, O’Malley Dillon, Biden’s, ” O’Malley Dillon, Douglas Emhoff, Erin Schaff, Howard University hoodie, –, Nancy Pelosi’s, dispirited, fraudsters, cheaters, ” Harris, Donald Trump’s, Charli XCX, ‘, ’, Jared Polis, Maxwell Frost, Tony Evers, ” Evers, ” Trump, Felita Daniels Ashley, Olivia Jessup, Anger, Natalie Jauch, Charli, Jessup, Taylor Swift, Kesha, ” Jessup, Kevin Mohatt, ” CNN’s Alison Main, Betsy Klein, Ebony Davis, Sam Fossum, Edward, Isaac Dovere, Lisa Respers Organizations: CNN, Democratic Party, Trump, Michigan AFL, Democratic, Biden, Convention, ABC, Base, Republican, CNN’s, New York Times, Siena, Electoral, Air Force, Joint Base Andrews, Naval Observatory, Howard University, Federal, San, Democratic National Convention, Democratic Colorado Gov, ”, Milwaukee, Heritage Foundation, California Democrat, Zeta Phi Beta, of Education, “, American Federation of Teachers Locations: Houston, Gaza, – Michigan, Pennsylvania, Wisconsin, Sun, Arizona, Georgia, Nevada, North Carolina, Maryland, Wilmington , Delaware, San Francisco, California, British, ” Florida, Milwaukee, “, West Allis , Wisconsin, Indianapolis, America, Lisa Respers France

☆ Bristol Myers surges 10%, its biggest increase since 2008, after boosting profit forecast
▼ + stars: | 2024-07-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Bristol Myers boosted its adjusted earnings for the year to between 60 and 90 cents a share, up 20 cents from its last forecast. AdvertisementOf Bristol Myers' existing drugs, Eliquis saw a 7% increase in sales year-over-year. Cancer drug Opdivo and blood cancer treatment Revlimid also saw promising results and beat quarterly sales estimates. The company reiterated its plan to cut $1.5 billion in costs by 2025, which was announced at its last quarterly earnings call. Bristol Myers is only the latest of a host of other drugmakers to raise their earnings guidance this week.

Persons: Myers, —, Bristol Myers, Christopher Boerner, Eliquis, Revlimid, David Elkins, Boerner, AbbVie Organizations: Bristol, Myers Squibb, Service, Cancer, FDA, AstraZeneca, Roche, Sanofi Locations: Bristol

☆ Here's how options traders are bullishly betting on a small-cap index as it overtakes mega-cap tech
▼ + stars: | 2024-07-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

The put is OTM because the strike price is below the spot price. Related storiesIf you have a bullish outlook on the IWM, you expect the share price to continue rising or at least not drop below the strike price. Picking the appropriate strike price is subjective and based on a trader's risk tolerance and the premium they're looking for. Tastylive, options chainSince options contracts are purchased in lots of 100, it could seem nerve-racking to think you may need to accept delivery of those shares. Worst-case scenario, you end up owning IWM shares at a cost below what you would have bought them for on the spot market, Dierking said.

Persons: Russell, Liz Dierking, Dierking, IWM, That's Organizations: Service, Nasdaq Locations: IWM

☆ Equinox signs up for Neom, Saudi Arabia's futuristic desert city
▼ + stars: | 2024-07-26 | by ( Dan Latu | ) www.businessinsider.com time to read: +1 min

Equinox announced a resort in Neom, the desert project in Saudi Arabia. The resort will feature high-end restaurants, a floating bridge, and 450-meter pool. Equinox opened its first hotel in 2019 in New York City, where rooms can go for $900 per night. AdvertisementEquinox is joining Crown Prince Mohammed bin Salman of Saudi Arabia in dreaming of a desert paradise as the company announces plans for a resort in Neom, the kingdom's utopia project. The luxury accommodations promise to feature high-end restaurants, a pool the length of 9 Olympic-sized courses, a floating bridge suspended 40 meters above a lagoon, and, of course, a signature Equinox gym.

Persons: —, Crown Prince Mohammed bin Salman Organizations: Equinox, Service, Crown Prince Locations: Neom, Saudi Arabia, New York City

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