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Yesterday β€” May 4th 2024Top News & Analysis

4 lessons for success from Berkshire shareholders' best Buffett and Munger stories

Everyone at the Berkshire Hathaway meeting has a story about Warren Buffett or Charlie Munger. These four provide useful tips for success.

Buffett says Berkshire sold its entire Paramount stake: 'We lost quite a bit of money'

"I was 100% responsible for the Paramount decision," Buffett said. "It was 100% my decision, and we've sold it all and we lost quite a bit of money."

Warren Buffett says Greg Abel will make Berkshire Hathaway investing decisions when he's gone

"I would leave the capital allocation to Greg and he understands businesses extremely well," Buffett said at Berkshire's annual meeting.

Berkshire shareholders remember Charlie Mungerβ€”3 lessons that will make you a better investor

In the first Berkshire Hathaway meeting following the death of Charlie Munger, shareholders shared the best lessons they learned from the billionaire investor

Warren Buffett says AI scamming will be the next big 'growth industry'

Artificial intelligence has both "enormous potential for good and enormous potential for harm," the investing guru said during Berkshire's annual meeting.

Why Warren Buffett’s shareholders line up at 2 a.m. to see him in Omaha: He’s 'the guy who changed our life'

I arrived to the Berkshire shareholders meeting at 4 a.m. Hundreds of investors were already in line. I asked them why.

'The Google effect' can lead you into this common mental trapβ€”here's how to avoid it

The search engine can feed one's availability bias, or the tendency to think easily accessible information is the most factual information.

Earnings will drive the market next week β€” what we expect from 2 portfolio stocks

Without any major economic reports, earnings β€” especially forward guidance and management commentary β€” will drive the action.

Marine moved from the U.S. to Brussels with her familyβ€”our mortgage is under $3,000/month: Take a look inside

In Belgium, "we can embrace a slower pace of life and a culture that prizes friends and vacations at least as much as work," says Jessica van Dop DeJesus.

Berkshire Hathaway operating earnings soar 39% as Buffett's cash hoard swells to record $188 billion

Berkshire Hathaway reported a huge year-over-year increase in operating earnings in the first quarter, while its cash holdings bubbled to record levels.

These 10 colleges may be as good as the Ivy League, according to Forbes

Ivy League institutions are incredibly difficult to get into. But these colleges may offer students a better shot at admission and just as good an education.

Warren Buffett's Berkshire Hathaway cut Apple investment by about 13% in the first quarter

Berkshire reported that its Apple bet was worth $135.4 billion, implying around 790 million shares. That would mark a decline of around 13% in the stake.

Jensen Huang started his $2 trillion company Nvidia at a Denny's breakfast booth

Jensen Huang, a former Denny's busboy, returned to the breakfast restaurant in 1993 to start Nvidia with two friends. Now, the chipmaker is worth $2.2 trillion.

Why election polls were so wrong in 2016 and 2020 β€” and what's changing to fix that

2016 election polls estimated Hillary Clinton had a 90% chance of beating Donald Trump.

Activist Nihon Global puts forth ideas to build shareholder value at noodle giant Toyo Suisan

Nihon Global's proposal at Toyo Suisan is a lesson on shareholder activism in Japan.

Star Wars was the first Lego license β€” 25 years later, it's stronger than ever

The Star Wars license was the first of its kind for Lego. Now, it has become a blueprint for the company's other brand deals.
Before yesterdayTop News & Analysis

Cramer's week ahead: Earnings from Disney, Uber and Warner Bros. Discovery

CNBC's Jim Cramer on Friday guided investors through an earnings-packed week on Wall Street.

Warren Buffett’s shopping extravaganza kicks off with Squishmallows pit, 'Poor Charlie’s Almanack'

The Oracle of Omaha's annual event kicked off with wares from See's Candies to the latest Squishmallows of Warren Buffett and Charlie Munger.

Here's how much money you'd have lost if you invested $1,000 in Peloton when it went public

Over the past years, Peloton's share price has declined significantly. Here's how much a $1,000 investment made in 2019, 2021 and 2023 would be worth now.

Apple remains Buffett's biggest public stock holding, but his thesis about its moat faces questions

Berkshire Hathaway has been amassing a stake in Apple since 2016, and now owns about 6% of the iPhone maker.

Cramer: Why Apple's Vision Pro could contribute to earnings sooner than expected

Apple's earnings report Thursday night left little doubt the tech giant is leaning heavily into enterprise opportunities for the Vision Pro.

What borrowers need to know as the Public Service Loan Forgiveness program goes on a partial processing pause

The popular Public Service Loan Forgiveness program will be partially paused from May 1 through July, the U.S. Department of Education recently said.

Dave & Buster's plan to allow betting on arcade games draws scrutiny

An Illinois lawmaker is proposing legislation to prevent wagering at family entertainment venues, saying such companies don't have proper safeguards in place.

Guo Wengui chief of staff Yvette Wang pleads guilty to $1 billion fraud conspiracy in New York

Guo Wengui, an associate of Trump White House advisor Steve Bannon, is due to stand trial in the fraud case in New York federal court in several weeks.

The top 5 countries where companies are scooping up American tech workers

Companies around the world are eager to hire U.S. tech talent.

Inside US airport terminals, banks are merging elite travel clubs with branch offices

Airport terminal bank branches with airline club amenities are growing as financial brands seek to catch the attention of travelers and remote workers.

Trump trial: Former top aide Hope Hicks cries as cross-examination begins

Judge Juan Merchan has yet to rule on whether Donald Trump once again violated the gag order barring him from speaking about jurors and witnesses.

The No. 1 skill companies are hiring for is also the hardest to find, according to new research

β€œA strong work ethic” is the top skill companies are looking for in new hires, but is one of the hardest to find, according to new research from ADP.

Berkshire Hathaway’s big mystery stock wager could be revealed soon

Warren Buffett's bet, shrouded in mystery, has captivated Berkshire Hathaway investors since first appearing in disclosures late last year.

Japan's finance minister says yen intervention may be necessary when there are 'excessive' moves

Japanese Finance Minister Shunichi Suzuki on Friday backed currency interventions by his country's policymakers if the yen moved in sharp directions.

Immigrant workers are helping boost the U.S. labor market

The government predicts that the influx of immigrant workers will grow gross domestic product over the next decade by $7 trillion.

Jobless rates rise in April for all racial groups except Black Americans

The unemployment rate for Black Americans slid in April, bucking the trend in other demographic groups.

Talent war between family offices and Wall Street drives up salaries

Wealthy families are spending an average of $3 million to run their family offices, according to a J.P. Morgan Private report, and the biggest cost is staffing.

Here's where the jobs are for April 2024 β€” in one chart

Health care and social assistance led the way, while construction hiring slowed.

Here's what's driving Friday's stock action in Apple, Coterra and Eli Lilly

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

Interest rates are staying highβ€”how to make them work in your favor

The U.S. Federal Reserve is keeping its benchmark interest rate at its current decades-long high. Savers and borrowers can take advantage of the moment.

First Berkshire Hathaway annual meeting without Charlie Munger: What to expect from Warren Buffett

The absence of Charlie Munger will be on everyone's mind when Berkshire Hathaway's annual shareholder meeting kicks off Saturday in Omaha.

Apple stock has best day since 2022 after earnings beat, $110 billion stock buyback

Apple shares popped on Friday after the company reported better-than-expected second-quarter earnings and the largest-ever stock buyback program.

Amgen stock soars on weight loss injection progress as Novo Nordisk, Eli Lilly shares slide

Amgen's update fueled concerns about potential new competition in the weight loss drug market, sending shares of Novo Nordisk and Eli Lilly lower.

32-year-old mom's Poshmark side hustle brings in nearly $4,000 a monthβ€”she only works 3 to 4 hours a day

Maria Jones started selling clothing on Poshmark in October 2017. She's since grossed more than $300,000 on the site altogether.

Skydance bid for Paramount hinges on Shari Redstone as special committee ends exclusive talks

Skydance is likely to walk away from its Paramount offer unless controlling shareholder Shari Redstone reaffirms her commitment following the Apollo-Sony bid.

Lithium giant Albemarle’s plans to reopen a rich mine in North Carolina will take years to complete

Eric Norris, president of energy storage at Albemarle, said progress has slowed as the company faces headwinds from a collapse in lithium prices.

34-year-old pays $4,150/month for a 1-bedroom apartment above a mall in Miamiβ€”take a look inside

Rachel Koggan moved from NYC to Miami in 2021 and lives in a 1,200-square-foot apartment above the Brickell City Centre.

SEC charges Trump Media auditor with 'massive fraud' on hundreds of companies, imposes lifetime ban

Trump Media, the owner of the Truth Social app, trades under the DJT ticker. Former President Donald Trump is the majority shareholder of the company.

Jim Cramer's top 10 things to watch in the stock market Friday

The Dow, S&P 500 and Nasdaq set to surge at Friday open after much weather-than-expected jobs growth in April.

China's 'unprecedented' space mission blasts off to the far side of the moon to collect samples

China on Friday launched a space probe to collect samples from the far side of the moon as the global space race heats up.

Wegovy maker Novo Nordisk extends losses following first-quarter results

Analysts pored over the details in itsΒ first-quarter results and monitored a potential rival weight loss treatment.

The No. 1 credit card myth that 'just will not seem to die'β€”why you shouldn’t fall for it

Believing this myth about credit cards could actually harm your credit score in the long run. Here's why people tend to fall for it anyway.

Most of Warren Buffett’s wealth was accumulated after age 65. Here’s what that can teach individual investors

One of Warren Buffett's biggest investing advantages is time. Here’s what individual investors can learn from his approach.

U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

Markets had expected job growth of 240,000 and the unemployment rate to hold at 3.8%.

'Trader justice': Ex-SocGen trader fired for risky bets claims he was made a 'scapegoat'

A former Societe Generale trader who was fired for unauthorized risky bets has lambasted the French bank for making him a "scapegoat."

AI engineers report burnout and rushed rollouts as 'rat race' to stay competitive hits tech industry

AI workers across the tech industry told CNBC that the pressure to roll out features and products at breakneck speed has come to define their jobs.

Cramer says he's willing 'to pay up' for Viking, the biggest IPO of the year

CNBC's Jim Cramer on Thursday reviewed the IPO of Viking.

Turkey's inflation accelerates to nearly 70% in April

Turkey's inflation accelerated to 69.8% annually for the month of April, the Turkish Statistical Institute reported Friday.

Japan's yen had a roller coaster week amid suspected intervention. Here's what you need to know

The Japanese yen started the week at 34-year lows against the U.S. dollar but the currency is now staring at its best week in over a year on Friday.

China's automakers must adapt quickly or lose out on the EV boom in the face of regulatory scrutiny abroad and competition at home

Adoption of battery and hybrid-powered cars has surged in China, but an onslaught of new models has fueled a price war, while regulatory scrutiny grows abroad.

Don't rate Tesla's Full Self Driving too highly, tech investor says: 'By no means autonomous driving'

A top fund manager focusing on tech says Tesla's Full Self Driving product lacks qualities that would make it an example of truly "self-driving" technology.

She's worked for Nike, the NBA β€” and Maya Angelou. Meet abstract artist Ya La'ford

Ya La'ford has commissions until 2028 and current and former clients include the NFL, the NBA and Nike as well as celebrity musicians and TV stars.

Fed and ECB divergence on rate cuts could spell trouble for the euro, economist says

The prospect of the ECB diverging from the Fed on rate cuts is likely to be "particularly negative" for the euro area, according to one economist.

Here's how much it costs to rent a 1-bedroom apartment across 10 major cities in Asia

Here is the median price to rent a 1-bedroom apartment across 10 major cities in Asia, according to the Global Property Guide.

Apple's falling iPhone sales don't bother Wall Street so long as margins, buybacks are increasing

Apple shares jumped after the company's earnings report on Thursday even though iPhone sales dropped more than expected.

We're raising our price target on Apple after its big earnings beat and raise

The consumer tech giant is as strong as ever, and we see positive catalysts ahead.

China has a 'fake gold' problem β€” locals are getting scammed into buying artificial jewelryΒ 

Gold's recent rally has sparked a bullion rush, but along with it β€” a spike in gold scams in China.

Coterra's smart pivot to oil from natural gas leads to an excellent first quarter and sweeter outlook

Coterra Energy's production paid off in the first quarter, helping the oil-and-gas producer surpass Wall Street expectations.

Cramer says inflation data is driving market action, even during a major earnings week

CNBC's Jim Cramer bemoaned Wall Street's fixation with the Federal Reserve's next decision about interest rates.

A Trump SEC would aim to reverse climate disclosure rule, ratchet up ESG fights, sources say

The Securities and Exchange Commission would shift priorities under a Trump administration, likely eschewing climate disclosure rules and reviving fi

Amgen scraps experimental weight loss pill, moves forward with injection

Amgen is among several drugmakers racing to join the red-hot weight loss drug space dominated by Novo Nordisk and Eli Lilly.

Coinbase reports first-quarter revenue beat after bitcoin rally leads to surge in profit

Coinbase's quarterly results follow a big jump in the price of bitcoin from a year earlier, though the rally has stalled of late.

Block shares jump on better-than-expected first-quarter results

Block's earnings report comes during a slide in the stock price tied to reports that U.S. prosecutors were probing the company's compliance practices.

Here's what to expect from the April jobs report on Friday

The Bureau of Labor Statistics report drops at 8:30 a.m. ET.

Stanley Black & Decker's earnings beat fails to satisfy Wall Street. Here's why we bought the dip

Stanley Black & Decker turned in another solid quarter of execution on matters within management's control.

Democratic senator aims at Amazon's labor practices with first federal bill regulating quotas

The bill seeks to regulate productivity quotas used by warehouse employers, including Amazon.

Sony and Apollo send letter expressing interest in $26 billion Paramount buyout as company mulls Skydance bid

Sony and Apollo showed formal interest in a Paramount Global buyout as Paramount's special committee is prepared to give its recommendation to Skydance.

FTC accuses ex-Pioneer CEO of colluding with OPEC, blocks him from Exxon board seat

The FTC has decided to refer the allegations to the Justice Department for a potential criminal investigation, according to The Wall Street Journal.

Trump campaign lawyers can't quit workplace discrimination case for now, judge rules

The lawsuit by A.J. Delgado claims the Trump campaign discriminated against her after she revealed she was pregnant by Jason Miller, another advisor.

IRS aims to more than double its audit rate for wealthiest taxpayers in strategic plan update

The IRS has released an update on its strategic operating plan, which includes more audits on the wealthiest taxpayers, large corporations and partnerships.

One personal decision can create a mess of financial challenges for transgender Americansβ€”'it takes a lot of courage'

Changing your name can be a complicated, but important move for trans and nonbinary individuals. Making sure it doesn't hurt your wallet is even trickier.

Linde's guidance leaves investors wanting more. We're saying thanks to the sellers

The pullback in Linde shares Thursday is giving us a chance to buy back stock we sold at higher prices in late March.

U.S. intelligence chief warns Congress of rise in cyberattacks

The new comments from Haines come as companies such as UnitedHealth Group, MGM Resorts and Clorox have been disrupted by cyberattacks in the past year.

'If Americans want lower interest rates, they're going to have to do it themselves,' analyst says. Here's how

Without a Fed rate cut on the horizon, consumers are going to have to take matters into their own hands if they want a break from sky-high credit card APRs.

These are the 10 most 'unaffordable' cities in Americaβ€”Los Angeles is No. 1

Creditnews Research ranked the cities by the percentage of neighborhoods within reach for the typical married-couple household to buy a home.

Here's a point-by-point rundown on why we're buying more of 3 portfolio stocks

With this trade, we are upgrading LIN and TJX to a 1 rating and reiterating our 1 rating on SWK shares.

The Education Department will transfer some student loan borrowers to a different servicer. Here's what you need to know

The U.S. Department of Education recently said that it will soon transfer some student loan borrowers to different servicers. Here's what you need to know.

Trump Media pushes House to probe 8 firms over short-selling of DJT shares

Donald Trump is the majority shareholder in Trump Media and the best-known user of its Truth Social app. When DJT shares fall, his net worth can take a bit hit.

Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10%

Apple CEO Tim Cook told CNBC that quarterly sales suffered from a difficult comparison to the year-earlier period.

We're buying 2 unfairly punished stocks and 1 on an analyst call

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

Proxy advisor ISS says unions and pension funds should back Norfolk Southern activist investor

ESG-focused investors and unions should back Norfolk Southern activist Ancora and its CEO pick Jim Barber, Institutional Shareholder Services said on Thursday.

Abu Dhabi AI firm Presight buys majority stake in technology joint venture AIQ

The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release.

UK to suffer slowest growth of all rich nations next year, OECD says

The U.K.'s "sluggish" growth prospects have put it on course to be the worst-performing economy of all advanced nations next year, according to the OECD.

Jim Cramer's top 10 things to watch in the stock market Thursday

The S&P 500 looks higher Thursday, one day after the index surrendered its post-Fed meeting gains and closed modestly lower.

Bored Ape Yacht Club NFTs sold for millions in 2021β€”prices have dropped 90% since then

Bored Ape Yacht Club NFT collection once touted by celebrities like Justin Bieber has seen its floor price decline by around 90% since its peak in 2022.

Trump denies sleeping during trial: 'I simply close my beautiful blue eyes'

Donald Trump returned to his criminal hush money trial in New York after Judge Juan Merchan held him in contempt for violating his gag order.

U.S. crude oil bounces after hitting 7-week low on surging U.S. inventories

Oil prices are under pressure from rising inventories, softening demand and higher for longer interest rates.

Peloton CEO Barry McCarthy to step down, company to lay off 15% of staff as it looks to refinance debt

Peloton announced Thursday that CEO Barry McCarthy will be stepping down just over two years after he took over from founder John Foley.

Wayfair shares surge after furniture retailer cuts losses by more than $100 million

Wayfair's sales fell in the first quarter, but the furniture retailer narrowed its losses by over $100 million after cutting 13% of its staff.

World's largest olive oil producer says the industry faces one of its toughest moments ever

Spain's Deoleo says the industry must undergo a "profound transformation" as it grapples with one of the most challenging moments in its history.

Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold

The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from the expected launch of its RSV vaccine.

Taylor Swift and Drake's label UMG strikes new licensing deal with TikTok to end spat

In a statement Thursday, UMG said the new licensing deal would lead to the return of its artists' music to TikTok.

'Liquid gold': An olive oil shortage is fueling record prices and food insecurity fears

A shortage of olive oil has driven prices to record highs, fueled a crime surge and pushed the industry into crisis mode.

Florida real estate struggles as β€˜motivated’ sellers flood market

Florida is seeing its inventory of homes for sale skyrocket and price growth stagnate, largely due to homebuilders rushing to accommodate a flood of newcomers.

Tanger CEO explains the upside in replacing tenants and how outlets appeal to luxury brands

Tanger CEO Stephen Yalof told CNBC's Jim Cramer on Wednesday why it can be more valuable to replace tenants rather than renew leases.

U.S. accuses Russia of using chemical weapons in Ukraine, in breach of global ban

The U.S. has formally accused Russia of using chemical weapons against Ukrainian troops.

China is an enemy of the U.S. for a growing number of Americans, Pew poll shows

Americans overwhelmingly hold an unfavorable view of China, with an increasing number labeling the nation as an enemy of the U.S., according to a new survey.

Shares of Nio soar more than 20% as EV deliveries more than double in April

Hong Kong-listed shares of Chinese electric vehicle maker Nio Inc jumped 20% in early trading, after its vehicle deliveries more than doubled in April.

Novo Nordisk beats profit estimates as sales of weight loss drug Wegovy more than double

Sales of popular weight loss drug Wegovy more than doubled to 9.38 billion kroner.

Oil giant Shell beats first-quarter profit estimates, launches $3.5 billion share buyback

British oil giant Shell on Thursday reported stronger-than-expected first-quarter profit, boosted by higher refining margins and robust oil trading.

Microsoft to open new data center in Thailand as it doubles down on AI and Southeast Asia

The U.S. tech giant said it will also commit toward AI skills training for over 100,000 Thais and support local developers.

Trump's potential VP picks and major Republican donors are coming to Mar-a-Lago

Donald Trump is set to fly from New York to Florida this weekend to mingle with Republican donors and potential running mates.

This family traveled for a year. Here are the biggest mistakes they made

Margaret Bensfield Sullivan talks about the challenges and lessons she learned while traveling with her family to 29 countries in the span of a year.

Amazon CEO Andy Jassy broke federal labor law with anti-union remarks

A National Labor Relations Board judge, citing 2022 interviews with CNBC, Bloomberg and The New York Times, found Amazon CEO Andy Jassy broke labor law.

Cramer says not to second-guess Fed Chair Powell after Wednesday's remarks

CNBC's Jim Cramer told investors to take Federal Reserve Chair Jerome Powell at his word.

Exxon Mobil reaches agreement with FTC, poised to close $60 billion Pioneer deal

The FTC will not block the deal now that the regulator and Exxon have reached a consent agreement, according to a source familiar with the matter.

UnitedHealth CEO estimates one-third of Americans could be impacted by Change Healthcare cyberattack

UnitedHealth CEO estimates that data from one-third of Americans could have been compromised in the Change Healthcare cyberattack.

Carvana shares spike 30% as used car retailer posts record first quarter

Carvana reported record first-quarter results Wednesday that beat Wall Street's top- and bottom-line earnings expectations for the online used car retailer.

Estee Lauder is punished for its light guidance. Here's why we are not joining the sellers

The market reaction does not accurately reflect the positive underlying trends we're seeing at Estee Lauder.

Qualcomm gives better-than-expected revenue forecast as company pushes AI-powered smartphones

Qualcomm called out strong demand for "premium tier" smartphones that require the most advanced chips.

Masimo's billionaire CEO put shares on margin to get cash while keeping ownership ahead of proxy fight

Masimo has allowed founder Joe Kiani to pledge more than half his $660 million stake in the company as collateral for personal loans.

Trump campaign lawyers' bid to withdraw from discrimination case gets closed-door hearing

Arlene "A.J." Delgado is suing the presidential campaign of Donald Trump for allegedly discriminating against her after she disclosed her pregnancy in 2016.

'Basel III' bank rules could pose unexpected threat to Biden's green energy plans

Renewable energy groups and congressional Democrats are raising alarms about potential harm to clean energy goals from a proposed banking regulation.

Why your financial advisor may not give you the best Social Security claiming advice

When to claim Social Security is one of the biggest decisions retirees face. But financial advisors' guidance may be biased, recent research finds.

Stocks pop after Fed decision, oil plunges, earnings mixed β€” what to watch in the market

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's

Starbucks, Pizza Hut and KFC are among the chains that reported same-store sales declines this quarter.

Fed keeps rates steady as it notes 'lack of further progress' on inflation

With the decision to hold the line on rates, the committee noted a "lack of further progress" in getting inflation back down to the central bank's 2% target.

Bally Sports regional networks go dark for Comcast cable customers

Carriage negotiations between Comcast and Diamond Sports broke down, leaving cable customers without access to Bally Sports regional networks during MLB season.

Google lays off hundreds of 'Core' employees, moves some positions to India and Mexico

Google is laying off more employees and hiring for their roles outside of the U.S.

The Federal Reserve holds interest rates steady, offers no relief from high borrowing costs β€” what that means for your money

The Federal Reserve pushed out rate-cut expectations β€” here's what that means for your credit card, mortgage rate, auto loan and savings account.

UnitedHealth CEO tells lawmakers the company paid hackers a $22 million ransom

Senators questioned UnitedHealth Group CEO Andrew Witty on Wednesday about a cyberattack on its subsidiary Change Healthcare.

Viking shares rise 8% after cruise line operator's market debut

The company's initial public offering coincides with a strong rebound in cruise bookings.

Bitcoin extends its slide to start May, falling to $57,000 as Fed leaves rates unchanged

Bitcoin slid to its lowest level in over two months to kick off May, as the Federal Reserve held interest rates steady.

After Meta’s β€˜year of efficiency,’ industry leaders root for year of innovation

To keep technological innovation on a strong path, companies must implement workforce efficiency mindfully.

Super Micro plummets 14% after posting revenue miss

Super Micro Computer shares plunged on Wednesday after the server company reported third-quarter revenue that slightly missed estimates.

Here's why we're not sweating Amazon’s light second-quarter guidance

The Investing Club holds its "Morning Meeting" every weekday at 10:20 a.m. ET.

DOJ charges 'Bitcoin Jesus' with $48 million tax fraud, seeks extradition

The IRS has tried to become more sophisticated in tracking alleged Bitcoin financial crimes.

Nvidia-backed GPU cloud provider CoreWeave surges to $19 billion valuation

CoreWeave intends to set up more of its clouds full of graphics processing units in more places around the world as it goes up against Amazon and Google.

Amazon-backed Anthropic launches iPhone app and business tier to compete with OpenAI's ChatGPT

Anthropic on Wednesday announced its first-ever enterprise offering, as well as its first iOS app.

How to make your home hurricane resistant, as scientists predict an 'extremely active' storm season

Upgrades could help consumers protect their home, typically one of their most valuable assets, from hurricanes and other natural disasters.

Why hundreds of U.S. banks may be at risk of failure

Of about 4,000 banks, 282 banks face threats from commercial real estate and higher interest rates, according to a study by Klaros Group.

DJT shares close down more than 9% as Trump Media hot streak stalls

Trump Media, owner of the Truth Social app, has seen a series of gains for its DJT ticker, even after majority shareholder Donald Trump earned extra shares.

U.S. crude oil falls to $79 a barrel, seven-week low as stockpiles surge on lackluster demand

A raft of data has demonstrated that inflation is proving stubborn, consumer confidence is falling and the U.S. economy is growing more slowly than expected.

BlackRock is opening a Saudi investment firm with initial $5 billion from PIF

The new platform will be called BlackRock Riyadh Investment Management, or BRIM.

Jim Cramer's top 10 things to watch in the stock market Wednesday

Wall Street begins May under pressure after a terrible April that broke five straight months of gains.

How to tell if you can actually afford a major purchase: 'Most people genuinely have no idea,' says self-made millionaire

Callie and Travis have gone into debt by not planning ahead for vacations and other big purchases in the past. Here's the advice Ramit Sethi gave them.

Private payrolls increased by 192,000 in April, more than expected for resilient labor market

Private payrolls increased at a faster than expected pace in April, indicating there are still plenty of tailwinds for the U.S. labor market.

Microsoft signs deal to invest more than $10 billion on renewable energy capacity to power data centers

Microsoft and Brookfield Asset Management will develop 10.5 gigawatts of renewable energy, in a deal they describe as the largest of its kind.

Healthy Returns: Sales of Humira are plunging, but AbbVie has two promising successors

AbbVie has two successors that could offset the losses from its blockbuster drug Humira. Meanwhile, UnitedHealth Group's CEO will testify on Capitol Hill.

NYCB shares jump 30% after CEO gives two-year plan for 'clear path to profitability'

CEO Joseph Otting took over NYCB in April after an investor group led by former Treasury Secretary Steven Mnuchin injected more than $1 billion into the lender.

Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates

The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.

Pfizer beats earnings estimates, raises outlook on cost cuts and smaller-than-feared drop in Covid drug sales

The pharmaceutical giant's quarterly results also benefited from a smaller-than-feared drop in sales for its Covid antiviral pill Paxlovid.

Yum Brands earnings miss estimates as Pizza Hut, KFC sales disappoint

KFC and Pizza Hut reported same-store sales declines, while Taco Bell's same-store sales rose just 1%.

How working for Big Tech lost 'dream job' status

Mass layoffs have eroded the shine of the tech industry.

CVS shares plummet as health company slashes profit outlook on higher medical costs

CVS and other insurers have seen medical costs spike as many Medicare Advantage patients return to hospitals to undergo procedures they delayed during Covid.

To train car dealers on EVs and other topics, Ford turns to gamification and AI-powered education

Dealership employees, who are employed outside Ford by dealers, are crucial for the company's sales, performance and customer engagement and satisfaction.

Johnson & Johnson to pay $6.5 billion to resolve nearly all talc ovarian cancer lawsuits in U.S.

The deal would allow J&J to resolve the lawsuits through a third bankruptcy filing of a subsidiary company, LTL Management.Β 

The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says

The reason the Fed may be tempted to cut rates would be to help the U.S. cover interest payments on the national debt, according to fund manager Freddie Lait.

Biden administration forgives $6.1 billion in student debt for 317,000 former Art Institute students

The Biden administration announced that it would forgive more than $6.1 billion in student debt for 317,000 former students of the Art Institutes.

We're raising our Amazon price target, betting light guidance proves conservative

Shares rose on a strong quarter. The upside, however, was tempered by a lower-than-expected outlook.

Luxury carmaker Aston Martin slumps 6% as losses nearly double

Adjusted loss before tax was Β£110.5 million ($137.8 million) compared to a loss of Β£57.3 million the previous year.

The world's happiest countries are targeting net-negative emissions β€” despite a growing 'greenlash'

Finland and Denmark are both targeting "net-negative emissions" in the years to come β€” despite an intensifying green political backlash.

Trump Media insider trading trial begins with co-founder testifying, 'I've never been paid at all'

Trump Media announced plans to merge with a shell company in late 2021. The legal fallout from the deal is playing out in multiple courtrooms.

Starbucks gets a price target cut after a brutal quarterly miss and light guidance

Starbucks is dealing with too many headwinds right now. This is a decline we do not have plans of immediately buying.

Hedge funds are β€˜dead as a doornail,’ says chairman of ultra-rich investors' club Tiger 21

Hedge funds are "dead" as an investment asset class among members of Tiger 21, a network of ultra-high net worth investors, said founder Michael Sonnenfeldt.

Binance co-founder Zhao set to keep on growing his $33 billion fortune even as he heads to prison for four months

Binance founder Changpeng Zhao expected to see his $33 billion personal fortune continue to climb while he's in prison.

American Express CEO explains how the company is attracting younger consumers

American Express CEO Steve Squeri told CNBC's Jim Cramer on Tuesday that Millennial and Gen Z customers made up 60% of new card acquisitions.

New Calamos ETF promises β€˜100% downside protection.’ Here's how it works

β€œThere’s no tricks. There’s no magic. This is the secret sauce,” Calamos Investments’ Matt Kaufman said.

Amazon cost cuts drive operating margin into double digits for first time

Amazon's operating margin jumped past 10%, topping a prior high of 8.2% in 2021.

Tesla shares drop nearly 6% after Musk cuts about 500 jobs in Supercharger team

Tesla is continuing a sweeping reorganization and laying off some 500 employees from its Supercharger team.

DJT: Trump receives 36 million shares of Trump Media worth $1.8 billion as earnout bonus

The shares were part of a contractual "earnout bonus" that Trump's eponymous media company agreed to shortly before it went public in March.

Super Micro pushes up full-year revenue forecast as it points to strong AI demand

Super Micro is now a component of the S&P 500 index. The company's growth accelerated to 200% from 103% in the previous quarter, but revenue still missed.

AMD says it will sell $4 billion in AI chips this year; stock drops on in-line forecast

AMD sells AI chips that compete with Nvidia, but it makes most of its money from PC chips.

Starbucks shares sink 12% as coffee chain slashes 2024 forecast amid same-store sales drag

Across all regions, Starbucks reported shrinking same-store sales and falling traffic.

Trump could drive inflation higher with his second-term economic agenda, analysts say

Donald Trump has blamed President Joe Biden for stubbornly high inflation during Biden's presidency.

Pinterest shares soar 18% on earnings beat, strong revenue growth

Shares of Pinterest popped in extended trading Tuesday after the company reported first-quarter results.

NBC Sports could buy back rights to iconic theme song 'Roundball Rock' if it airs NBA games again, composer John Tesh says

NBC Sports can license the rights to John Tesh's famous "Roundball Rock" theme song if it secures a new NBA media package, Tesh said in an e-mail.

Binance founder Changpeng Zhao sentenced to 4 months in prison after plea deal

Five months after pleading guilty to money laundering violations, Binance founder Changpeng Zhao was sentenced to four months in prison.

Here's everything to expect from the Fed meeting that will move markets on Wednesday

Markets are anticipating a near-zero chance that the policy-setting arm of the central bank will announce any change to interest rates.

'It's a good time to lock in,' expert says. What to know to get the best rates on your cash now

Stubborn inflation may lead the Federal Reserve to keep interest rates where they are for longer. That's good news for cash savers, experts say.

We are hiking our price target on Eaton as demand for AI computing power heats up

Results under the hood were a bit mixed, but the positives far outweighed the negatives. Β 

Cannabis stocks surge as Biden administration moves to reclassify marijuana

Stocks linked to cannabis surged on an otherwise down day for the market.

Cyberattack on UnitedHealth firm forces doctors to dig into personal savings to stay afloat

Many doctors have been left without a way to get paid for their services.

How to save for retirement if your company doesn't offer a 401(k)

Not every employer offers a 401(k) retirement account, but there are suitable alternatives.

This is the level where the 10-year Treasury yield becomes a 'clear problem' for stocks, Goldman study shows

Goldman said that when the 10-year Treasury yield hits 5%, the correlation between bond yields and stocks turns negative.

FTC challenges 'junk' patents held by 10 drugmakers, including for Novo Nordisk's Ozempic

The agency sent letters to Novo Nordisk, AstraZeneca, Boehringer Ingelheim, Covis Pharma, GlaxoSmithKline, Novartis, Teva Pharmaceuticals, among others.

Eli Lilly assures investors it can overcome the high-quality problem of too much demand

The world's most valuable drugmaker hiked its full-year sales and profit guidance, despite missing lighter-than-expected first-quarter revenue.

Ron Insana: The 2024 inflation scare has arrived, but there are still signs of hope for investors

Recent inflation readings have come in hot, but commodity prices and other indicators seem to show signs of cooling.

Over $1 billion in unclaimed tax refunds is set to expire in just over 2 weeks, IRS saysβ€”here’s how to claim yours

The IRS says it's holding onto over $1 billion in unclaimed tax refunds. Filers have until May 17 to claim their potential portion. How to get started.

Trump Media shares rise again, jump 50% in the past week

The stock has had several volatile days in the past month, trading at a high of about $60 a share and a low of just over $20 per share.

Eight newspaper publishers sue Microsoft and OpenAI over copyright infringement

Eight newspaper publishers alleged that Microsoft and OpenAI used millions of their articles without payment or permission to train AI models like ChatGPT.

McDonald's and other big brands warn that low-income consumers are starting to crack

Higher prices have weighed on customers in an array of industries that interact with consumers.

Amazon profit more than triples, topping Wall Street expectations

Amazon surpassed analyst expectations for revenue and earnings in the first quarter.

An important student loan forgiveness deadline is hours away β€” and it takes under 15 minutes to apply

Some student loan borrowers have until April 30 to take advantage of an opportunity to get their debt forgiven sooner than they would have otherwise.

We are making another buy of this retailer ahead of the coming rebound in PCs

We are slowly building up one of our newest positions at increasingly better share prices.

Shares of two big online education stocks tank more than 10% as students use ChatGPT

Chegg and Coursera both sank more than 10% in trading Tuesday, a day after issuing disappointing guidance.

Biden replaces Obama-era infrastructure protections to defend against Chinese cyberthreats

FBI DirectorΒ Christopher WrayΒ has repeatedly warned the public and members of Congress of the imminent threat posed by Chinese hackers.

Meta hit with major EU probe into disinformation handling ahead of European elections

The European Commission is investigating Meta over concerns the company hasn't done enough to tackle disinformation ahead of upcoming elections.

Treasury Department announces new Series I bond rate of 4.28% for the next six months

The U.S. Department of the Treasury announced the new rate for Series I bonds through October 2024.

ISS endorses most of activist Ancora's nominees for Norfolk Southern board

ISS recommended that shareholders support five of Ancora's seven nominees and seven Norfolk Southern nominees.
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