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☆ Shares of HP fall 8% following revenue miss
▼ + stars: | 2023-08-30 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Shares of HP fell more than 8% on Wednesday morning after the printer and PC maker released fiscal third-quarter earnings that underwhelmed Wall Street. HP reported $13.2 billion in revenue, below the $13.37 billion expected by analysts, according to Refinitiv. However, the analysts wrote that the company's printing business may be more of a sticking point. The analysts wrote in a Wednesday note that they are lowering their fiscal fourth-quarter estimates and fiscal full-year estimates for the company. "Despite a tough demand environment, we continue to be impressed with HPQ's ability to generate solid operating margins for both segments," the analysts wrote Tuesday.

Persons: Bernstein Organizations: HP, Credit Suisse, Deutsche Bank Locations: China

☆ Mysterious new California city backed by some of the biggest names in Silicon Valley, report says
▼ + stars: | 2023-08-28 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

An aerial view of the city of San Francisco skyline and the Golden Gate Bridge in California, October 28, 2021. Jan Sramek, a former Goldman Sachs trader, has been quietly working to build an urban utopia in California nestled near San Francisco and Silicon Valley. But just a few years after the mysterious project got underway, it is facing increasing scrutiny from local officials and residents. Local residents were unnerved by the company as it bought up more and more land, according to the report. Read more at The New York Times.

Persons: Jan Sramek, Goldman Sachs, Sramek, Flannery, Reid Hoffman, Marc Andreessen, Andreessen Horowitz, Michael Moritz, Read Organizations: The New York Times, Flannery Associates, Bloomberg, LinkedIn, Democratic, Times Locations: San Francisco, California, Silicon

☆ Apple reportedly planning major iPad Pro upgrade
▼ + stars: | 2023-08-28 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Apple is planning some major updates for its iPad Pro in 2024, including a new Magic Keyboard, a shift to the M3 chip, and brighter and sharper displays, according to a report from Bloomberg. The revamped iPad Pro will likely boost iPad sales, which have slowed to their lowest level since the Covid-19 pandemic began in 2020, the report said. Apple's iPad Pros are its most expensive tablets. The new iPad Pro will support a new Magic Keyboard, an accessory Apple first introduced in 2020. The iPad Pro will come in an 11-inch size and a 13-inch size, which is just slightly larger than the 12.9-inch model that Apple has previously offered.

Persons: Apple's Organizations: Apple, Bloomberg

☆ Ubisoft shares pop 9% on revised Microsoft-Activision deal
▼ + stars: | 2023-08-22 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Yves Guillemot, CEO and co-founder of Ubisoft, speaks at the Ubisoft Forward livestream event in Los Angeles, California, on June 12, 2023. Shares of French game maker Ubisoft popped 9% in Europe trading Tuesday after Microsoft submitted a new deal for the takeover of Activision Blizzard to try and appease wary U.K. regulators. The U.K.'s Competition and Markets Authority confirmed it blocked the original $69 billion deal that Microsoft first put forward in January 2022. Instead, these rights will be divested to Ubisoft before Microsoft's acquisition of Activision Blizzard. Ubisoft offers cloud games on services like Amazon Luna and Nvidia 's GeForce Now, which compete with Microsoft's Xbox streaming service.

Persons: Yves Guillemot, Brad Smith, Tom Clancy's, Smith, CNBC's Arjun Kharpal Organizations: Ubisoft, Microsoft, Activision Blizzard, Markets Authority, CMA, Activision Blizzard PC, Activision, Amazon, Nvidia Locations: Los Angeles , California, Europe, U.S

☆ TweetDeck, renamed X Pro, now requires a subscription
▼ + stars: | 2023-08-16 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

On Wednesday morning, many marketers, journalists and news junkies were met with a paywall they have been dreading: X, formerly known as Twitter, started charging users to access TweetDeck. TweetDeck, now called X Pro, allows users to view and customize multiple feeds that update in real time. The service has historically been free to use, but X announced in a post in July that it would become a subscriber-only feature. Starting Wednesday, users who want access to X Pro will have to pay for X Premium, the service introduced by the site's owner, Elon Musk, as a way to generate additional revenue for the company. Twitter Blue relaunched again in December, though impersonation problems persisted.

Persons: Elon Musk, Musk Organizations: Twitter, X, SpaceX

☆ YouTube will remove cancer treatment misinformation
▼ + stars: | 2023-08-15 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

YouTube on Tuesday announced a new policy for combatting medical misinformation on the video-sharing platform, according to a blog post. In doing so, YouTube will remove content that contradicts well-established guidance from health officials about topics such as Covid-19, reproductive health, cancer and harmful substances, among others. YouTube said it will determine whether a condition fits within its new medical policy by assessing whether it's a high public health risk that's often prone to misinformation. This means content that discourages effective treatment or promotes unproven treatment will be removed, according to the blog post. For instance, if a political candidate disputes official health guidance or a public hearing takes place that includes inaccurate information, YouTube may not remove it.

Organizations: YouTube, Google

☆ Apple Watch X coming next year with blood pressure tracking: Report
▼ + stars: | 2023-08-14 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Apple is planning a big upgrade to celebrate the 10th anniversary of its watch with a new device dubbed the "Watch X," according to Bloomberg. The Watch X will reportedly feature a thinner case, and designers are considering a magnetic band that is sleeker and takes up less space than the original Apple Watch bands. These changes are rather minor compared with what Apple has in store for the Watch X, which it will unveil in 2024 or 2025. But it shows that Apple knows most folks are still buying their first Apple Watch. Bloomberg had earlier said Apple is also planning a fresh version of the high-end Apple Watch Ultra, although it's unclear what might be new.

Persons: Apple, Read Organizations: Apple, Bloomberg, Apple Watch, Nasdaq

☆ Intuit's Alex Chriss named new PayPal CEO
▼ + stars: | 2023-08-14 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

PayPal 's new CEO will be Alex Chriss, the executive who runs the small business and self-employed group at Intuit, members of PayPal's board announced Monday. Chriss will take over for PayPal's longtime CEO Dan Schulman beginning Sept. 27. PayPal's board said Chriss was chosen for the role out of a pool of nine candidates. The board members said the firm had no role in the search. Schulman became PayPal's CEO after the split from eBay in 2015, and he notified the company of his decision to retire at the end of December last year.

Persons: Alex Chriss, Chriss, Dan Schulman, Schulman, Dan, PayPal's, Elliott Organizations: PayPal, Intuit, Elliott Management, eBay

☆ Amazon hardware chief Dave Limp is stepping down this year
▼ + stars: | 2023-08-14 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Limp regularly appeared at Amazon hardware events, which are typically held each fall but sometimes occur more than once a year, to announce new products. Amazon said Limp would remain in his role for the next few months and the company will announce his successor in the coming weeks. Amazon is set to unveil new products at its annual event Sept. 20, hosted at the company's Northern Virginia headquarters, known as HQ2. "It pains me to have to deliver this news as we know we will lose talented Amazonians from the Devices & Services org as a result." In January, Limp said Amazon remains "fully committed" to the Alexa unit despite the job cuts in the division.

Persons: David Limp, Amazon's, Limp, Andy Jassy, Jassy, —, Annie Palmer Organizations: Amazon.com Inc, Amazon, CNBC, Wall Street, Devices, Services Locations: Seattle, Virginia

☆ Top Georgia election official echoes concern that Trump could cause violence: 'He's making himself a martyr'
▼ + stars: | 2023-08-13 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Former U.S. President and Republican presidential candidate Donald Trump speaks on the stage during a campaign rally in Windham, New Hampshire, August 8, 2023. Former President Donald Trump could face an unprecedented fourth indictment over his alleged efforts to overturn his loss in Georgia's 2020 presidential election, and top Georgia election official Gabriel Sterling said Sunday that the criminal cases have been "giving oxygen" to Trump's 2024 presidential campaign. Sterling, a Republican, said that Trump lost the state in 2020 and that his repeated claims of election fraud have been unsubstantiated. He said Sunday that election-related violence remains his "biggest concern," as individuals could be radicalized to do something "stupid." That presentation could lead to an indictment of the former president in the case on state charges.

Persons: Donald Trump, Gabriel Sterling, Sterling, Trump, Trump's, He's, he's, Fani Willis, Joe Biden Organizations: U.S, Republican, Sunday, ABC, Capitol, NBC News Locations: Windham , New Hampshire, Georgia, U.S, Atlanta, Fulton County

☆ CBS News chief Neeraj Khemlani reportedly stepping down
▼ + stars: | 2023-08-13 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Neeraj Khemlani, president of CBS News, at the annual White House Correspondents' Association Dinner in Washington, U.S., April 29, 2023. Neeraj Khemlani, the president and co-head of CBS News and Stations, is stepping down from his role, according to a Sunday report from Variety. In his current role, Khemlani is responsible for running CBS News, its local stations and popular programs like "Face the Nation," "60 Minutes" and "CBS Evening News." It is not immediately clear who will succeed Khemlani, but CBS could announce the new executive as soon as Monday, Variety said. Before joining the network, Khemlani spent more than 10 years at Hearst, where he held a number of leadership roles like executive vice president of Hearst Newspapers, president of Hearst Entertainment and Syndication and chief creative officer.

Persons: Neeraj Khemlani, Khemlani, Variety, shakeup, CNN's Chris Licht Organizations: CBS, White, Correspondents, Variety, CBS Evening, Paramount, Hearst, Hearst Newspapers, Hearst Entertainment, Media Locations: Washington , U.S

☆ Top Georgia election official echos concern that Trump could cause violence: 'He's making himself a martyr'
▼ + stars: | 2023-08-13 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Former U.S. President and Republican presidential candidate Donald Trump speaks on the stage during a campaign rally in Windham, New Hampshire, August 8, 2023. Former President Donald Trump could face an unprecedented fourth indictment over his alleged efforts to overturn his loss in Georgia's 2020 presidential election, and top Georgia election official Gabriel Sterling said Sunday that the criminal cases have been "giving oxygen" to Trump's 2024 presidential campaign. Sterling, a Republican, said Trump lost the state in 2020 and that his repeated claims of election fraud have been unsubstantiated. Trump in a speech Tuesday in New Hampshire said he expects to be indicted in Georgia soon. "I should have four by sometime next week," Trump said.

Persons: Donald Trump, Gabriel Sterling, Sterling, Trump, Trump's, He's, he's, ABC's, Fani Willis, Joe Biden Organizations: U.S, Republican, Sunday, Capitol, NBC News, Prosecutors, CNN Sunday . Allies Locations: Windham , New Hampshire, Georgia, U.S, Atlanta, Fulton County, Coffee County, New Hampshire

☆ Roblox shares drop 20% after company misses estimates on top and bottom line
▼ + stars: | 2023-08-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Shares of Roblox fell 20% Wednesday after the company reported second-quarter results that missed analysts' expectations on top and bottom lines. Here's how the company did:Loss per share: 46 cents loss vs. 45 cents loss per share expected, according to a Refinitiv survey of analysts. 46 cents loss vs. 45 cents loss per share expected, according to a Refinitiv survey of analysts. Revenue (bookings): $781 million vs. $785 million expected, according to Refinitiv. The revenue figure is what Roblox calls bookings, a category that includes sales recognized during the quarter and deferred revenue.

Persons: Roblox, David Baszucki, Baszucki Organizations: Revenue, VR

☆ Wildfires burn historic Maui town of Lahaina, prompt evacuations across Hawaii
▼ + stars: | 2023-08-09 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

A wildfire burns on the island of Maui near an intersection in Lahaina, Hawaii, August 9, 2023. Wildfires burned across Hawaii on Wednesday after strong winds from Hurricane Dora and dry conditions ignited blazes and prompted evacuations across the state. The Coast Guard rescued people from the ocean near Lahaina, Maui, as they went into the water to escape a fast-moving fire, NBC News reported, and the historic downtown area surrounding Front Street was partly destroyed, according to Hawaii News Now and other reports. Sylvia Luke issued an emergency proclamation Tuesday that said the fires had burned "hundreds" of acres and forced a number of schools and roads to close. The emergency proclamation said evacuations were underway in the Kohala Ranch, Kula, and Lahaina areas, as the fires threaten to affect the health and welfare of "a substantial number of persons."

Persons: Sylvia Luke, Luke, Josh Green, Green, Governor Luke, Hurricane Dora Organizations: Coast Guard, NBC News, Hawaii News, Hawaii National Guard, Gov, Hurricane Locations: Maui, Lahaina , Hawaii, Hawaii, Hurricane Dora, Lahaina, Kula

☆ Elon Musk says he may need surgery
▼ + stars: | 2023-08-07 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

SpaceX, Twitter and electric car maker Tesla CEO Elon Musk looks on as he speaks during his visit at the Vivatech technology startups and innovation fair at the Porte de Versailles exhibition center in Paris, on June 16, 2023. Tesla CEO Elon Musk said he may require surgery and is planning to receive an MRI on his neck and upper back, according to a post on X, the social media platform formerly known as Twitter. Musk, who in addition to Tesla also holds senior leadership roles at X, SpaceX and Neuralink, added that he will know more this week. If Musk ultimately requires surgery, his condition could at least temporarily take some of his attention away from his multiple executive roles. It could also delay the proposed sparring match between him and Mark Zuckerberg, CEO of Meta .

Persons: Elon Musk, Porte, Musk, Tesla, Mark Zuckerberg, Zuckerberg Organizations: SpaceX, Twitter, Porte de, Meta Locations: Paris

☆ Trump says he'll seek a new judge in election case
▼ + stars: | 2023-08-06 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Former U.S. President and Republican candidate Donald Trump makes a keynote speech at a Republican fundraising dinner in Columbia, South Carolina, U.S. August 5, 2023. Former President Donald Trump on Sunday called for recusal of the judge presiding over the federal case that alleges he illegally conspired to overturn his election loss to President Joe Biden in 2020. This is the second federal case facing the former president, who is also the top contender in the Republican presidential primary. Trump has pleaded not guilty in the documents case and the hush money case. John Lauro, a defense attorney for Trump, has suggested the legal team will seek to move the case to a different venue.

Persons: Donald Trump, Joe Biden, Tanya Chutkan, Barack Obama, Chutkan, Trump, Jack Smith, General Merrick Garland, John Lauro Organizations: U.S, Republican, Washington , D.C, Capitol, DOJ, NBC News, Manhattan, Trump Locations: Columbia , South Carolina, U.S, Washington ,, Chutkan, Washington

☆ Trump lawyer says Pence will be star witness for defense, while Pence says Trump team asked him to reject votes 'outright'
▼ + stars: | 2023-08-06 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

The indictment describes how Trump and his lawyers pressured Pence to overturn Joe Biden's victory by refusing to certify the results in the Senate on Jan. 6, 2021. Pence told CBS' "Face the Nation" Sunday that if he is ultimately asked to testify, he will follow the law. Lauro added that Trump and his lawyers asked Pence to "pause the voting" to allow states time to audit votes, in an interview with CNN's "State of the Union" Sunday. "Frankly, the day before January 6, if memory serves, they came back — his lawyers did — and said, 'We want you to reject votes' outright," Pence said. And it's what no vice president in American history had ever done before, and frankly what no vice president or any one person in Washington should ever do again," he added.

Persons: Donald Trump, Donald Trump's, John Lauro, Mike Pence, Trump, Pence, Joe Biden's, Lauro, ABC's, President Trump, CNN's Organizations: South Carolina Republican Party, Sunday, Senate, Manhattan, CBS, Union, CNN Locations: Columbia , South Carolina, Washington

Social network Twitter, recently rebranded as X, has commandeered the handle "@music" from open-source software developer Jeremy Vaught, who told CNBC he created the account in 2007, and had built a community of around half a million followers there. The move on the part of the social media company raises questions about the worth of a handle on its platform. The threat of losing a handle may make it hard for creators to trust the platform enough to build there long-term Vaught told CNBC. It's not clear what X plans to do with the "@music" account now. Vaught told CNBC he is still using X, though he did set up a new account on Meta's text-based competitor Threads, and another on Mastodon.

Persons: Jeremy Vaught, Elon, X, Vaught, Musk, Ed Sheeran, Sheeran, Tesla Organizations: Twitter, CNBC, Services

☆ AMD forecast, U.S. credit downgrade drags down chip stocks
▼ + stars: | 2023-08-02 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

AMD Chair and CEO Lisa Su speaks at the AMD Keynote address during the Consumer Electronics Show (CES) on January 4, 2023 in Las Vegas, Nevada. Chip stocks dipped Wednesday, after AMD 's disappointing revenue forecast raised concern that fragility in the PC market and slower spending from businesses may be poised to continue. Marvell fell almost 6%, Nvidia slid close to 5% and Intel and Texas Instruments each declined more than 3%, falling more than the broader tech market. At the same time, the company said a "weaker PC market" dragged second-quarter revenue down 54% in its client segment. Semiconductor companies led a decline in tech stocks, as the market was hit by Fitch Ratings' downgrade of the United States' long-term foreign currency issuer default rating from AAA to AA+.

Persons: Lisa Su, Marvell, Fitch, CNBC's, Jefferies Organizations: AMD, Consumer Electronics, Nvidia, Intel, Texas, Semiconductor, Fitch, AAA, AA, Nasdaq Locations: Las Vegas , Nevada, United States

☆ Uber shares rise on rosy guidance and operating profit, despite revenue miss
▼ + stars: | 2023-08-01 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Uber CEO Dara Khosrowshahi addresses the audience during the keynote at the start an Uber products launch in San Francisco, California on September 26, 2019. Shares of Uber rose 4% in premarket trading Tuesday after the company reported second-quarter results that missed analysts' expectations for revenue but offered rosy guidance. The company reported adjusted EBITDA of $916 million, up 152% year over year. Gross bookings for the quarter came in at $33.6 billion, up 16% year over year. Here's how Uber's largest business segments performed:Mobility (gross bookings): $16.73 billion, up 25% year-over-yearDelivery (gross bookings): $15.60 billion, up 12% year-over-yearUber's mobility segment reported $4.89 billion in revenue, compared with delivery's $3.06 billion.

Persons: Dara Khosrowshahi, Uber, Nelson Chai, Khosrowshahi, Gross Organizations: Revenue, Mobility Locations: San Francisco , California, Refinitiv

☆ Apple's iPhone 15 Pro will reportedly feature new charging port, titanium edges
▼ + stars: | 2023-07-31 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Apple is preparing to unveil its next generation of devices this fall, and the high-end iPhone 15 models will reportedly feature some major changes. The company has used its proprietary Lightning charger for iPhones since 2012, but the iPhone 15 and iPhone 15 Plus will be compatible with USB-C charging, according to a report from Bloomberg. The report said the iPhone 15 Pro and Pro Max models will feature titanium edges instead of stainless steel. Apple is also considering raising the price of its high-end iPhone Pros, according to Bloomberg. Since 2019, the company has sold a high-end iPhone Pro that starts in the U.S. at $999 and a Max model with a bigger screen that starts at $1,099.

Persons: Max, Greg Joswiak, Apple's Organizations: Apple, Bloomberg, Wall Street, Tech Locations: U.S

☆ Palantir stock up 10% as company rides A.I. craze
▼ + stars: | 2023-07-31 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Palantir, a data analytics company best known for its work with the U.S. government's defense and intelligence agencies, offers a number of AI-powered services for organizations across public and private sectors. Shares of Palantir popped 10% Monday as the company continues to capitalize on investors' hopes for its artificial intelligence software ahead of its earnings report next week. In an interview with CNBC's "The Exchange" Friday, Dan Ives, managing director of equity research at Wedbush Securities, described Palantir as "the [Lionel] Messi of AI," referencing the pro soccer player. Ives said there is a "golden path" for the company to monetize, adding in a note that Palantir has built "an AI fortress that is unmatched." "This is an arms race of a different kind, and it has begun," Karp wrote.

Persons: Alex Karp, CNBC's, Dan Ives, Lionel, Messi, Ives, Palantir, Karp, William Blair, SPACs Organizations: Palantir Technologies Inc, P Global, U.S, Wedbush Securities, New York Times, Palantir Locations: Houston , Texas, A.I, U.S

☆ X logo officially replaces Twitter's famous bird on mobile app, building headquarters
▼ + stars: | 2023-07-29 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

X, formerly known as Twitter, has officially retired its famous blue and white bird logo. The company previously introduced the logo on the web and launched the domain X.com, though Twitter.com also remains live. The transition from Twitter to X reflects Musk's vision to turn the platform into what he has called an "everything app." He shared a video of a large new X logo glowing on top of the company's headquarters early Saturday. "Time to update.," Yaccarino wrote in a post about the mobile app's logo change Friday.

Persons: Elon, Elon Musk, adieu, it's, Musk, Linda Yaccarino, CNBC's Sara Eisen, Yaccarino Organizations: Twitter, City, Department, Francisco's Department, SpaceX, Musk's, CNBC Locations: Los Angeles, San Francisco

☆ AWS announces generative A.I. tool to save doctors time on paperwork
▼ + stars: | 2023-07-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Attendees walk through an expo hall during Amazon Web Services' Reinvent conference at the Venetian in Las Vegas on Nov. 29, 2022. Amazon Web Services on Wednesday announced a new service for health care software providers called AWS HealthScribe, which uses generative artificial intelligence and speech recognition to automatically draft clinical documentation. The service aims to save health care workers time using AI-generated transcripts and summaries of patient visits, which can then be entered into the electronic health record system. As a result, several companies like Microsoft's Nuance Communications, and now, AWS, have been working to build solutions to reduce this administrative burden. "It is clear that generative AI has the power to transform the health care and life sciences industry in many ways," Swami Sivasubramanian, AWS' vice president of database, analytics and machine learning services said at during a keynote speech at AWS Summit New York Wednesday.

Persons: Swami Organizations: Web Services, Amazon, Services, Wednesday, American Medical Association, Summit, York Locations: Las Vegas

☆ Spotify shares fall on revenue miss and weak guidance
▼ + stars: | 2023-07-25 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Shares of Spotify fell 7% in premarket trading Tuesday after the company released second-quarter results that missed analysts' estimates for revenue and offered weaker-than-expected guidance. The company said it expects to report total revenue of 3.3 billion euros for its third quarter, down from the 3.4 billion euros expected by analysts according to StreetAccount. It had also expected a revenue of 3.2 billion euros and to post 217 million paid subscribers in the quarter. Spotify posted a net loss of 302 million euros, an increase from the 125 million-euro loss it posted in the year-ago quarter. Spotify said in its report Tuesday that the price increases are expected to have "minimal impact" on the company's total revenue in the third quarter.

Organizations: Spotify, Revenue Locations: U.S

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