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☆ 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

Next door in the 7th District, GOP state Rep. Ryan Mackenzie defeated Democratic Rep. Susan Wild, who had flipped a GOP seat in a 2018 special election. Republicans also flipped an open seat in Michigan’s 7th District, after Democratic Rep. Elissa Slotkin decided to run for the Senate. Because California is notoriously slow in counting ballots, some of the half-dozen hyper-competitive races there — critical to which party wins the House majority — likely will take days. In the 27th District, GOP Rep. Mike Garcia was narrowly beating Democrat George Whitesides with 65% of the vote in. In another California battleground race, NBC News projected Wednesday that GOP Rep. Kevin Kiley has defeated Democrat Jessica Morse.

Persons: Donald Trump, Will Trump, that’s, Kamala Harris, Trump, Mike Johnson, ” Johnson, Hakeem Jeffries, ” Jeffries, Ezra Levin, Brendan Boyle, it's, ”, ” Boyle, “ Trump, Harris, Brandon Williams, Marc Molinaro, Josh Riley, Rob Bresnahan, Matt Cartwright, Ryan Mackenzie, Susan Wild, Wild, Elissa Slotkin, Nick Begich, Mary Peltola, Juan Ciscomani, Kirsten Engel, David Schweikert, Don Bacon, John Duarte, Adam Gray, David Valadao, Rudy Salas, Mike Garcia, Democrat George Whitesides, Michelle Steel, Derek Tran, Ken Calvert, Will Rollins, Kevin Kiley, Jessica Morse Organizations: WASHINGTON, Republicans, White, Senate, Representatives, NBC News, House Republicans, “, Biden, Congressional, Democratic, ”, Democrats, GOP, Empire State, NBC, Republican, Democratic Rep, GOP Rep, Central Valley’s, Democrat, District, longtime GOP, Rep Locations: West Palm Beach , Florida, Pennsylvania, Michigan, D, Virginia, Alabama, Louisiana, New York, Arizona , Oregon, Iowa, Southern California, Greenland, Syracuse, Empire, Pennsylvania’s, District, Michigan’s 7th, Alaska’s, In Arizona, Nebraska, California

☆ Novo Nordisk quarterly profit meets expectations as Wegovy maker narrows full-year guidance
▼ + stars: | 2024-11-06 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance. The Danish pharmaceutical giant said that its net profit in the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG aggregate estimate of 26.95 billion Danish kroner. EBIT — earnings before tax and income — came to 33.8 billion Danish kroner, also just above the LSEG forecast of 33.51 billion Danish kroner. The guidance reflected the company's expectations for sales growth in North America and internationally, which is largely driven by volume growth of treatments based on Glucagon-like peptide-1 (GLP-1), Novo Nordisk said. Novo Nordisk added that it was investing in capacity both internally and externally to increase supply in the short- and long-term.

Persons: —, — CNBC's Annika Kim Constantino Organizations: Novo Nordisk, Wednesday, Novo, Nordisk, U.S . Food, Drug Administration Locations: Danish, North America, Novo, U.S

☆ Toyota posts nearly 20% drop in second-quarter operating profit, missing estimates
▼ + stars: | 2024-11-06 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Japanese automaker Toyota Motor on Wednesday reported its first quarterly operating profit drop in about two years, as it strives to navigate the market shift toward electric vehicles. Revenue : 11.44 trillion yen vs. 11.41 trillion yen: 11.44 trillion yen vs. 11.41 trillion yen Operating profit: 1.16 trillion yen vs. 1.24 trillion yenThe world's largest automaker by sales volume saw a 20% year-on-year drop in operating profit during the quarter. Net profit attributable to company more than halved to 573.7 billion yen from 1.28 trillion a year ago. "If electric vehicles simply become the only choice, including for our suppliers, those people's jobs would be lost." The company maintained a full-year operating profit of 4.3 trillion yen.

Persons: Akio Toyoda, Toyoda, Suzuki Organizations: Toyota, Toyota Motor, LSEG ., Reuters, National, Traffic Safety Administration, Japan's Transport, Ministry of Land, Transport, Honda, Yamaha Locations: Tokyo, Japan, Infrastructure, Tourism

☆ AMC Entertainment posts revenue decline due to fewer big releases
▼ + stars: | 2024-11-06 | by ( ) www.cnbc.com time to read: +1 min

An AMC theater is pictured in Times Square in the Manhattan borough of New York City. AMC Entertainment on Wednesday reported a fall in third-quarter revenue and saw a decline in attendance at its theater chain, hurt by fewer blockbuster releases from Hollywood studios. Revenue for the third quarter stood at $1.35 billion, down 4.1% from $1.41 billion, a year ago. Analysts expected revenue of $1.33 billion, according to data compiled by LSEG. AMC reported a net loss of $20.7 million for the quarter ended Sept. 30, compared to net earnings of $12.3 million, a year ago.

Persons: Adam Aron Organizations: AMC, AMC Entertainment, Hollywood, Revenue, LSEG Locations: Manhattan, New York City, , Kansas

☆ Here's what President-elect Trump's tariff plan may mean for your wallet
▼ + stars: | 2024-11-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Trump's plan would reduce average after-tax incomes by almost 3%, according to the tax think tank. "If we get tariffs, we will pass those tariff costs back to the consumer," Daniele said in September. A back-of-the-envelope calculation suggests a 10% across-the-board tariff would be roughly equivalent to a $320 billion tax on consumers, Cross said. "The administration could take tariff revenue and redistribute to households via tax cuts in some form or another," explained Pugliese of Wells Fargo. However, the typical U.S. household would still lose $2,600 a year from Trump's tariff plan, even after accounting for an extension of the 2017 tax cuts, according to an analysis by the Peterson Institute for International Economics.

Persons: Donald Trump, Scott Olson, Biden, Trump, There's, Mark Zandi, didn't, Mike Pugliese, Moody's, Philip Daniele, Daniele, Olivia Cross, Cross Organizations: Getty, NBC, Trump, CNBC, Tax, National Retail Federation, Wells, Wells Fargo Economics, U.S, AutoZone, Capital Economics, U.S ., Peterson Institute for International Economics Locations: Grand Rapids , Michigan, Mexico, Wells Fargo, U.S, North America

☆ Stocks making the biggest moves premarket: Tesla, DJT, CVS Health, Dollar Tree and more
▼ + stars: | 2024-11-06 | by ( Pia Singh | In | ) www.cnbc.com time to read: +4 min

Crypto stocks – Shares of Coinbase surged 12% as investors cheered the prospect of a more supportive regulatory environment for cryptocurrency businesses under a second Donald Trump presidency. Bank stocks — Shares of banking stocks soared in premarket trading after Donald Trump's victory spurred investor optimism that the sector could see less regulation . CVS Health — Shares rose 7.5% after CVS posted mixed third-quarter results , citing higher medical costs that weighed on net income. Clean energy stocks — Shares of renewable energy and solar companies slid on worries that Trump's second term could imperil the Inflation Reduction Act and measures to fight climate change. Dollar Tree , Five Below — Shares of Dollar Tree slipped 1.6%, while Five Below moved down 9%.

Persons: Donald Trump, Donald Trump's, Goldman Sachs, Wells Fargo, SunRun, FirstSolar, Wegovy, Trump, CoreCivic, Dan Ives, Tesla, — CNBC's Michelle Fox Theobald, Tanaya Macheel, Brian Evans Organizations: MicroStrategy, Bank, —, Citigroup, Bank of America, Trump Media & Technology, Republican, CVS, Enphase Energy, Novo Nordisk —, GEO Group, Elon, Trump, Wedbush Securities, Tilray, Aurora Cannabis, National Retail Federation Locations: FactSet, Novo Nordisk — U.S, Danish, U.S, Florida, Canada, China

☆ Regional banks are expected to pop under a Trump administration. The Street loves these dividend payers
▼ + stars: | 2024-11-06 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

President-elect Donald Trump is returning to the White House , and shares of regional banks are surging on his Election Day victory. Western Alliance Bancorp turned up on the list, with a dividend yield of 1.8% as of Tuesday's close. BPOP YTD mountain Popular shares in 2024 Provident Financial Services turned up on CNBC Pro's screen. Provident posted a profit of 36 cents per share, versus analysts' call for 47 cents a share, per FactSet. Shares are up more than 21% in 2024, and as of Tuesday's close, it had a dividend yield of 5%.

Persons: Donald Trump, Scott Siefers, Piper Sandler, Davidson's Gary Tenner, Tenner, Frank Schiraldi, Piper Sandler's Mark Fitzgibbon, Fitzgibbon, —, Fred Imbert Organizations: White, Republicans, Regional Banking, CNBC, Western Alliance Bancorp, Western Alliance, Financial Services, Provident

☆ Stocks making the biggest moves midday: Super Micro Computer, Tesla, Coinbase, Planet Fitness and more
▼ + stars: | 2024-11-06 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Crypto stocks — Cryptocurrency-related names soared after investors bet that a Trump presidency would lead to a more supportive regulatory environment. Cannabis stocks — Shares of cannabis companies dropped after voters rejected a Florida ballot measure to legalize the sale and use of marijuana in the state. Dollar Tree and Dollar General also respectively lost more than 6% and 5%. Steel stocks — U.S.-based steel stocks rallied on the back of Trump's victory. Shares of Nucor and Cleveland-Cliffs respectively rallied 16% and 20%, while United States Steel climbed 8%.

Persons: Donald Trump, Donald Trump's, Trump, Tesla, bitcoin, Goldman Sachs, Wells, Joe Biden's, Sunrun, Wegovy, CoreCivic, Trump's, — CNBC's Michelle Fox, Alex Harring, Hakyung Kim, Sarah Min, Samantha Subin Organizations: Republican, Trump Media & Technology, Bank, Citigroup, Bank of America, Wells Fargo, CVS Health, CVS, Trump, SolarEdge Technologies, Enphase Energy, Novo Nordisk —, Novo Nordisk, — Geo, White, Aurora Cannabis, —, CNBC, Holdings, Steel, U.S, Cliffs, United States Steel Locations: Novo Nordisk — U.S, Danish, Florida, Tilray, U.S, Canada, China, Cleveland

☆ CVS posts mixed results, holds off on guidance in Joyner's first earnings report as CEO
▼ + stars: | 2024-11-06 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

CVS Health on Wednesday reported mixed third-quarter results as higher medical costs squeezed its bottom line. The earnings report is CEO David Joyner's first at the helm of the troubled retail drugstore chain. CVS will provide commentary on what it expects "directionally" during its earnings call, the spokesperson said. "Establishing credibility and earning the trust of our investors is one of my top priorities as the new leader of CVS Health," Joyner said in a statement. CVS expects those premium deficiency reserves "to be substantially released" during the fourth quarter, which will benefit results in that period.

Persons: David Joyner's, Joyner, " Joyner, Steve Nelson, Nelson, Prem Shah, Karen Lynch Organizations: CVS Health, CNBC, CVS, Aetna, UnitedHealth, LSEG

☆ Elon Musk bet big on Trump. Here’s what he stands to gain — and lose — from his win
▼ + stars: | 2024-11-06 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —No single business leader did more to support former President Donald Trump’s candidacy than Elon Musk. Musk has donated nearly $119 million so far to a political action committee he set up to support Trump, according to Federal Election Commission filings. Elon Musk steps onto stage as Republican presidential nominee, former President Donald Trump addresses a campaign rally in Butler, Pennsylvania on October 5. It will only help Tesla,” Musk posted on X in July. It’s not likely Trump would want to cut that support, and the promise of jobs in those states, even if they will eventually provide competition for Musk and Tesla.

Persons: Donald Trump’s, Elon, Trump, Musk, He’s, ”, Daniel Ives, Tesla, Kamala Harris, “, Biden, Elon Musk, Donald Trump, Anna Moneymaker, he’s, ” Musk, Ives, ” Ives, It’s, Jim Farley, Jeff Schuster, we’re, Jade Gao Organizations: New, New York CNN, Trump, Wedbush Securities, SpaceX, —, Treasury Department, Republican, EV, Tesla, EPA, Industry, Getty, Boeing, NASA, International Space Locations: New York, Tuesday’s, America, United States, Butler , Pennsylvania, Trump’s, Europe, Asia, California, China, Shanghai, Beijing, AFP, Tesla

☆ What mattered more to Trump: Musk's money, or Musk's platform?
▼ + stars: | 2024-11-06 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

Elon Musk's Twitter purchase has been a financial disaster. But if Twitter helped elect Trump, and Trump rewards Musk for that, does that matter? We don't know what role Twitter — and Musk's money — played in Trump's election. 🇺🇸🇺🇸The future is gonna be so 🔥 🇺🇸🇺🇸 pic.twitter.com/x56cqb6oT5 — Elon Musk (@elonmusk) November 6, 2024So, was that $44 billion well-spent, after all? AdvertisementThe truth is we won't know for some time — possibly forever — how much Musk's Trump support mattered.

Persons: Elon, Trump, Twitter, —, Elon Musk, Donald Trump, rena, ould, emin, ories, ou this, aga, Amer, tim e Organizations: Twitter, Trump, Service, Elon, YouTube Locations: Trump's

☆ Super Micro shares plummet 18% after financial update heightens investor concerns
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. Super Micro shares plunged 18% on Wednesday to their lowest level since June of last year after the embattled server maker issued disappointing unaudited financials and failed to provide specifics plans to keep its Nasdaq listing. Super Micro hasn't filed audited financials since May and is at risk of being delisted by Nasdaq if it doesn't report results for the latest fiscal year to the SEC by mid-November. CEO Charles Liang said Super Micro was actively in the process of hiring a new auditor. For the quarter ending Sept. 30, Super Micro said it generated net sales of between $5.9 billion and $6 billion.

Persons: Charles Liang, financials, Ernst & Young, Ernst, Liang Organizations: Super, Computer Inc, Super Micro, Nasdaq, Micro, Ernst, SEC, Mizuho Locations: Taipei, Taiwan

☆ E.l.f. shares soar as cosmetics retailer raises guidance after posting 40% sales gain
▼ + stars: | 2024-11-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Beauty raised its full-year guidance on Wednesday after posting a 40% growth in sales. Sales rose to $301 million, up about 40% from $216 million a year earlier. raised its full-year revenue guidance from a previous range of $1.28 billion to $1.3 billion and also raised its adjusted earnings guidance. The retailer is expecting adjusted earnings to be between $3.47 to $3.53 per share, up from a prior outlook of between $3.36 and $3.41 per share. Analysts had been looking for earnings guidance of $3.51, according to LSEG.

Persons: we're, Tarang Amin, Amin, Donald Trump Organizations: LSEG, Gen Alpha, CNBC, Target, Walgreens Locations: U.S

☆ UniCredit and Commerzbank square off with target hikes amid takeover battle
▼ + stars: | 2024-11-06 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty ImagesTwo months since UniCredit played its opening move to woo German lender Commerzbank , the lenders flaunted their financial strength as one of Europe's largest banking mergers still hangs in balance. Both banks reported third-quarter results on Wednesday, with UniCredit posting an 8% year-on-year hike in net profit to 2.5 billion euros ($2.25 billion), compared with a Reuters-reported 2.27-billion euro forecast. It raised its full-year net profit guidance to above 9 billion euros, from a previous outlook of 8.5 billion euros. When the Italian lender showed its hand by using derivatives to build a potential 21% stake in Commerzbank, the German lender appointed a new CEO and sharpened its financial targets.

Persons: Daniel Roland, UniCredit, Commerzbank, CNBC's Annette Weisbach, Bettina Orlopp, Orlopp, Chancellor Olaf Scholz, waylay, Let's, hadn't, Andrea Orcel, CNBC's Charlotte Reed Organizations: Afp, Getty, Reuters, CNBC, Wednesday, German Ministry of Finance Locations: Frankfurt, Europe, Commerzbank, Berlin

☆ I'm a divorce attorney for the rich and famous. Here are the biggest mistakes I've seen clients make.
▼ + stars: | 2024-11-06 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +5 min

Kristina Royce, a divorce attorney, says marriage should be treated like a business transaction. I've been a matrimonial lawyer for 23 years, representing high-net-worth individuals, including celebrities and entrepreneurs, who are navigating marriage or divorce. I help my clients navigate this process as smoothly as possible during the divorce, but their most impactful divorce decisions were made before they even got married. AdvertisementBefore marriage: create financial intimacyI believe a successful marriage requires three types of intimacy: sexual, emotional, and financial. Speaking to a divorce lawyer can help break down the communication barrier and ensure each person is educated about their rights and what they own.

Persons: Kristina Royce, Royce, —, It's, I've, doesn't, Tess Martinelli Organizations: Service Locations: Los Angeles, tmartinelli

☆ Trump's first 2 years will be shaped by who wins the House. We may not know the outcome for days.
▼ + stars: | 2024-11-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +4 min

We still don't know who will control the House next year, and it could take days to count votes. But we still don't know who controls the House of Representatives, and the outcome will have major implications for the first two years of Trump's second term. "As more results come in it is clear that, as we have predicted all along, Republicans are poised to have unified government in the White House, Senate, and House," said House Speaker Mike Johnson in a statement on Wednesday morning. A Democratic House would be a major constraint on Trump's powerHistorically, newly elected presidents have typically enjoyed unified government at the beginning of their terms. Allowing those provisions to simply expire would cause most Americans to experience a major tax hike.

Persons: Trump, —, Donald Trump, Mike Johnson, George H.W, Bush, Joe Biden Organizations: GOP Senate, Service, Republicans, Representatives, Senate, Democratic, House, Trump Locations: New York, Alabama, Pennsylvania, Michigan, North Carolina, California, Ukraine

☆ Where Harris’ campaign went wrong
▼ + stars: | 2024-11-06 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +14 min

It was a moment that encapsulated one of the biggest challenges facing her campaign – which, in the end, proved insurmountable. CNN spoke with over a dozen senior Harris campaign aides both in the Wilmington, Delaware, campaign headquarters and on the ground in the states, as well as multiple volunteers and local elected officials, over the course of the final weeks of the race. Vice President Kamala Harris makes her way to board Air Force Two before departing Dane County Regional Airport in Madison, Wisconsin on September 20. Biden could have taken on a role as steward and elder statesman, rather than a guy the Harris campaign never knew quite what do with. And those tensions manifested from almost the start of this short campaign, in the internal wrangling over who Harris should pick as her running mate.

Persons: Kamala Harris, Biden, ”, Hostin, Harris, didn’t, Joe Biden –, Donald Trump, Mandel Ngan, —, they’d, Liz Cheney, Bill Clinton, Bad Bunny, Arnold Schwarzenegger, ” Sen, Cory Booker, ” Booker, “, I’m, That’s, We’ve, Walz Harris ’, Lady Gaga, “ I’m, Biden hadn’t, Jen O’Malley Dillon, Barack Obama –, David Plouffe, –, Stephanie Cutter, Josh Shapiro, Harris ’, Tony West, Shapiro, Tim Walz, Trump’s, Ohio Sen, JD Vance, Walz, Vincent Alban, Obama, outperforming Harris, he’d, Austin Steele, Cedric Richmond, “ We’ve Organizations: CNN, Republican, Democrat, Democratic, Air Force, Dane County Regional Airport, Getty, Israel, fumed, Democratic Party, Trump, GOP, The New, The New Jersey Democrat, Philadelphia Museum of Art, Barack, Pennsylvania Gov, Pennsylvania, Obama, Minnesota Gov, Reuters, White, Howard University, Howard Locations: Wilmington , Delaware, Dane, Madison , Wisconsin, AFP, Bucks County , Pennsylvania, The, The New Jersey, Canada, American, Wilmington, Philadelphia, Minnesota, West Ellis , Wisconsin, Delaware, North Carolina, Washington ,

☆ Here’s what Trump is proposing for the economy
▼ + stars: | 2024-11-06 | by ( Katie Lobosco | Tami Luhby | ) edition.cnn.com time to read: +10 min

This includes, among other things, an increase to the standard deduction, lower marginal income tax rates for most income brackets, and an increase to the estate tax exemption. Though his campaign hasn’t released details on the proposal, Trump has indicated that he would eliminate both federal income taxes and payroll taxes, which fund Social Security and Medicare. However, these workers would then get smaller Social Security payments after they retire. Around half of beneficiaries – mainly those with higher incomes – pay federal income tax on their Social Security payments. Trump has also floated ending the federal income tax and replacing it with revenue from tariffs.

Persons: Donald Trump, Trump, Kamala Harris, hasn’t, Ohio Sen, JD Vance, He’s, Harris, Elon Musk, John Deere, ” Vance Organizations: Washington CNN —, Security, Democratic, Social Security, Center, Social, Budget, Trump, Biden, Republican Party, ” Invest, Federal Reserve Locations: Las Vegas, Mexico, Canada, Midwest

☆ I was a teen dad on food stamps. Now that I'm a multimillionaire, teaching my kids to appreciate money is really difficult.
▼ + stars: | 2024-11-06 | by ( Kelly Burch | ) www.businessinsider.com time to read: +5 min

I didn't want to be bouncing checks and living paycheck to paycheck, but I didn't know a way out. AdvertisementNow, I'm a millionaire, and I have to take money into consideration when parenting my kids. I buy my kids cars but save the flashy vehicles for meI want all my kids to earn the things they have. I told him that I love him, but there's no way I'm spending $22,000 on a baseball game. Admittedly, we have a long driveway, but there's no way I'm buying him a golf cart.

Persons: John Wetmore, He's, —, didn't, I'd, I'm, I've, they've, Mercedes Organizations: Force, Service, Little, Ohio State University, GMC

☆ I'm a divorce attorney for celebrities and the ultrawealthy. My advice is to treat marriage like a business transaction.
▼ + stars: | 2024-11-06 | by ( Tess Martinelli | ) www.businessinsider.com time to read: +5 min

Kristina Royce, a divorce attorney, says marriage should be treated like a business transaction. I've been a matrimonial lawyer for 23 years, representing high-net-worth individuals, including celebrities and entrepreneurs, who are navigating marriage or divorce. However, marriage is a business transaction with the potential for huge financial consequences, so it needs to be treated as such. AdvertisementBefore marriage: Create financial intimacyI believe a successful marriage requires three types of intimacy: sexual, emotional, and financial. Speaking to a divorce lawyer can help break down the communication barrier and ensure each person is educated about their rights and what they own.

Persons: Kristina Royce, Royce, —, It's, I've, doesn't, Tess Martinelli Organizations: Service Locations: Los Angeles, tmartinelli

Tecoluca, El Salvador CNN —Sunlight pours into the cavernous building. Opened less than two years ago, it is already an iconic feature of the “new El Salvador” of President Nayib Bukele. The cells are meticulously clean — an intentional and stark contrast to the dingy and squalid prisons of El Salvador’s past. He even created his own clique, “Crazy Criminals,” now tattooed across his back, after he returned to El Salvador. Critics inside and outside El Salvador question the veracity of the government’s crime data and claimed success over the gangs.

Persons: El Salvador ”, Nayib Bukele, ”, Cecot, Belarmino, Gustavo Villatoro, “, El Salvador —, ‘, Marvin Vásquez, he’s, —, Vásquez, ” Vásquez, “ Rob, it’s, “ It’s, García, Bukele, ” Bukele, …, Juan Carlos Sánchez, Belarmino García, David Culver, Evelio Contreras, Cecot’s García, El, Salvador Molinas, Molina, we’ve Organizations: El Salvador CNN, El, CNN, Central American, Barrio, Law Foundation, Bukele Locations: El Salvador, El Salvador’s, El, Los Angeles, Cecot, America, San Salvador

☆ Qualcomm pops 10% on chipmaker's earnings and revenue beat
▼ + stars: | 2024-11-06 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Qualcomm reported fourth-quarter earnings on Wednesday that beat Wall Street expectations for earnings and revenue, and the company guided to a strong December quarter. The company reported $2.92 billion in net income, or $2.59 per share, a sharp jump from last year's $1.49 billion, or $1.23 per share. Qualcomm reported $33.19 billion in total revenue in its fiscal 2024, a 9% increase from 2023. Qualcomm reported a 12% increase in handset chip sales to $6.1 billion, in line with FactSet estimates. The company's profitable technology licensing business, QTL, reported $1.52 billion in revenue, a 21% increase over the same period last year.

Persons: Akash Palkhiwala, Cristiano Amon Organizations: Qualcomm, Apple, Nvidia, Quest, Microsoft

☆ Top analyst Mayo says Trump 'is regulatory game changer,' names one bank to benefit most
▼ + stars: | 2024-11-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Donald Trump 's decisive victory to regain the White House could serve as a "regulatory game changer" for Wall Street banks, according to Wells Fargo. Equity analyst Mike Mayo wrote early on Wednesday that a second Trump administration could yield "more free markets, less harsh oversight," while also reducing regulatory risk. GS YTD mountain Goldman Sachs stock. "More free markets imply that investment banking revenues have a chance at exceeding 2021 levels over the next few years," Mayo said. Shares of Goldman Sachs surged more than 12%, while peers Citigroup , Bank of America and Wells Fargo all gained more than 7% each.

Persons: Donald Trump, Mike Mayo, Trump, Trump's, Goldman Sachs, Mayo, Wells Fargo Organizations: Equity, Goldman, Citigroup, Bank of America, Wells Locations: Wells Fargo, Goldman Sachs, Wisconsin, Pennsylvania

Tech billionaire Elon Musk and his business empire stand to reap massive rewards if former President Donald Trump returns to the White House. Elon Musk joins former US President Donald Trump during a campaign event in Butler, Pa., on Oct. 5, 2024. “I love Elon Musk,” Trump said at a rally in July. It’s not clear how Musk and Trump would navigate the ethical questions around a possible government role for the tech billionaire. “He would be in much less trouble in a Trump administration because Trump shares his hostility to regulation and regulators,” Richard Pierce, a law professor at George Washington University specializing in government regulation, told NBC News in an interview earlier this year.

Persons: Elon Musk, Donald Trump, Musk, Trump, Vladimir Putin, SpaceX, ” Musk, Brian Hughes, ”, ” Hughes, Justin Merriman, ” Trump, “, walling, Kamala Harris, Harris, Biden, Larry Krasner, ” Richard Pierce, John Raoux, Angela Aneiros, ” Aneiros, Tesla, There’s, SpaceX countersued, • Tesla, ” SpaceX, Starlink, Justice Department —, Tucker Carlson, Carlson, he’s, SpaceX’s, Kamala Organizations: Tech, Trump, Musk’s, SpaceX, China —, U.S, Wall Street, NBC News, Boeing, Fox News, Bloomberg, Getty Images Trump, D.C, Trump Organization, Budget, America PAC, Philadelphia, George Washington University, Tesla, Co, Kennedy Space Center, Gonzaga University, university’s Center of Law, & Commerce, Justice Department, National, Traffic Safety Administration, Securities and Exchange Commission, Street, Justice, Employment, Commission, National Labor Relations Board, SEC, Twitter, Federal Communications Commission, Federal Aviation Administration, FAA, Safety, Health Administration, NLRB, Reuters, Defense Department, NASA, International, White, National Space Council Locations: China, United States, Taiwan, Ukraine, Washington, Trump’s, Pennsylvania, Butler, Pa, Palm Beach , Florida, Texas, California, Cape Canaveral, Fla, Los Angeles, Austin, Mars

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