D.R. Horton signage stands in front of homes under construction at the Eastridge Woods development in Cottage Grove, Minnesota.Daniel Acker | Bloomberg | Getty ImagesA version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.D.R. Horton, the nation’s largest homebuilder, is tapping an artificial intelligence tool from Portland, Oregon-based startup Prophetic to build more homes and address the country’s…
Author: usaeverydaylife
Exterior view of the entrance to Merck headquarters on February 05, 2024 in Rahway, New Jersey. Spencer Platt | Getty ImagesMerck will acquire Cidara Therapeutics in a nearly $9.2 billion deal, gaining access to an experimental flu drug in its effort to diversify ahead of patent loss for its blockbuster cancer drug Keytruda.The drugmaker will pay $221.50 per share in cash for Cidara, the companies said on Friday, a premium of 108.9% from its last closing price.Shares of Cidara, which has a market capitalization of $3.3 billion as of Thursday, doubled in value to $217.89, while Merck slipped 1.3%.Merck, which is…
Artificial intelligence has become one of the biggest investment stories in the market, helping drive a surge of assets into thematic exchange-traded funds that let retail investors bet on major technology trends. But experts warn that these funds can fall as quickly as they rise. It’s a simple yet important point for investors to keep in mind as tech stocks look more vulnerable, and are leading the market lower in recent days. The Nasdaq has been flirting with a fall below its 50-day moving average for the first time since the April downturn and posted its third-straight losing session on…
Jefferies is moving off the sidelines when it comes to Gap . The bank upgraded the clothing chain to buy from hold. Analyst Corey Tarlowe also hiked his price target for the stock to $30 from $22, signaling about 24% upside from Thursday’s close. Tarlowe pointed to “encouraging and sustainable” trends in both the near- and long-term for Gap, stemming from fundamental changes that the retail chain has implemented. “We expect GAP to sustain strong momentum through brand revitalization and disciplined operations, supporting both top- and bottom-line growth,” he wrote. “These improvements stem from structural changes introduced under Richard Dickson’s…
CNBC’s Leslie Picker joins ‘Fast Money’ with an update on Berkshire Hathaway investments in Q3. Source link
Artificial intelligence is changing the way human resources leaders envision roles, skills, and experiences of their workforce, as generative AI transforms many jobs.”AI is reshaping the future of work by redistributing tasks within jobs.” Those were the words of a U.S.-based chief human resources officer in response to a flash survey CNBC circulated last week among members of the CNBC Workforce Executive Council, a collection of public and private company human resources leaders.When asked if AI is currently having an impact on jobs at their firms, more than two-thirds (67%) of senior human resources executives polled in the CNBC survey said…
Eakarat Buanoi | Istock | Getty ImagesLISBON, Portugal — Top tech executives told CNBC they’re concerned about a bubble forming in the artificial intelligence sector, underscoring growing unease within the industry over soaring valuation.In recent weeks, markets have been reckoning with the notion that too much capital is pouring into the AI boom, clouding the outlook on revenue and actual profit and putting high valuations into question.Up to now, warnings around overstretched valuations have mostly come from investors and leaders in the world of finance. Goldman Sachs’ David Solomon and Morgan Stanley’s Ted Pick have warned of potential corrections as…
Every weekday, the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. 1. The S & P 500 turned higher Friday. The index opened lower after posting its worst one-day performance since Oct. 10. Still, Wall Street remains cautious of Big Tech’s heavy spending and stretched valuations. Jim Cramer reminded investors to stick with profitable companies — like Nvidia and Microsoft , both Club names, and Alphabet — rather than those that make promises they can’t back. While our trusted S & P Short Range Oscillator is not…
Astypalea’s Chora, or capital.Ed Moskalenko | Getty ImagesThe tiny, butterfly-shaped Greek island of Astypalea has all the ingredients for a relaxing vacation: myriad beaches with clear waters, great seafood and a castle perched above a traditional white town with winding alleys and views across the Aegean Sea.It’s also less developed than its larger neighbors like Rhodes and Kos, and with a population of just 1,400, Astypalea made for a chilled holiday destination when I visited in June.Some of the lanes in the island’s Chora — or capital — are so small that donkeys carry construction tools to hard-to-reach building sites,…
Check out the companies making the biggest moves midday: Scholar Rock — The Cambridge, Massachusetts-based biotech jumped 23% after saying it ” completed constructive and collaborative in-person Type A meeting ” with the FDA on Wednesday for a biologics license application for apitegromab, a spinal muscular atrophy treatment. Officials from Novo Nordisk’s Catalent Indiana joined the meeting and said the facility will be ready for reinspection by the end of 2025. Strategy — The crypto stock was down about 1%, well off the lows seen earlier in the day. CEO Michael Saylor said on CNBC’s “Squawk Box” that the bitcoin…
