David Tepper, founder and president of Appaloosa Management.David Orrell | CNBCAppaloosa Management’s David Tepper said investors should believe the Federal Reserve when it says it will lower interest rates because the central bank has now to keep credibility.”You just read what these guys are saying,” Tepper said on CNBC’s “Squawk Box” Thursday. “Powell told you something… He told you some kind of recalibration. He has to follow through somewhat. I’m not that smart. I just read what they say and do they have conviction. They usually do what they say, especially when they have this level of conviction.”The Fed last…
Author: usaeverydaylife
Billionaire hedge fund founder David Tepper said his big bet after the Federal Reserve’s rate cut was to buy Chinese stocks. “We got a little bit longer, more Chinese stocks,” Tepper told CNBC’s “Squawk Box” on Thursday. “And so, I have limits, historic limits. I probably said a long time ago, I don’t go above 10% or 15%. Well, that’s probably not true anymore.” In fact, the founder of Appaloosa Management said he may have doubled his limit to China equities, saying he bought more of “everything” such as large-cap tech giants Alibaba and Baidu after the U.S. lowered interest…
The communications services sector has been on an unbelievable tear for nearly two years. Source link
Appaloosa Management’s David Tepper said he is hesitant in buying more shares of the red-hot chipmaker Nvidia even though the stock looks attractive to him. “We sold a lot of our Nvidia. We thought [the stock] was too high at the time and would come down. Unfortunately, we didn’t buy it when it came back down,” Tepper said on CNBC’s ” Squawk Box ” Thursday. “Those stocks like Nvidia is a question. Do you have enough power for the growth? Do you have the next generation models that can take their chip?” The hedge fund manager dumped more than 80%…
Voters cast their mail-in ballots at a ballot drop box outside Maricopa County Recorder and Elections Department southeast Mesa office during the Arizona state primary election in Mesa, Arizona, U.S. July 30, 2024. Rebecca Noble | ReutersDerek Bowens has never had such an important job. He’s the director of elections in Durham County, North Carolina, one of the most-populous areas of a state that’s increasingly viewed as crucial to the 2024 presidential contest.So when a former precinct official emailed Bowens in July to warn him of a post containing voting misinformation that was spreading virally on Facebook, Bowens quickly recognized that…
Video gaming is big business. The global market is expected to reach $187.7 billion in 2024, according to data firm Newzoo.And in the industry, there has been a big effort to boost esports, which is competitive gaming, and turn it into a professional sport on part with soccer or football.Esports involves teams or individuals competing against each other in different video games. These players train and have coaches like regular athletes in a bid to be the best in their game category.In August, the first ever Esports World Cup concluded. It featured more than 1,500 players and a prize pool…
Distance Technologies develops a product that it says can turn any transparent surface into an augmented-reality display.Distance TechnologiesDistance Technologies, a Finnish startup that aims to bring mixed-reality technology to any car windshield or plane cockpit, has raised 10 million euros ($11.1 million) of funding from GV, the venture capital arm of Alphabet and other investors.Distance raised the cash injection in a seed round led by GV, with existing investors FOV Ventures and Maki.vc also stumping up more cash for the startup, the company told CNBC on Thursday.Helsinki-headquartered Distance develops technology that it says can turn any transparent surface into an…
Election polling continues to forecast a tight race between Vice President Kamala Harris and former President Donald Trump, but within corporate America, top executives are preparing for Harris to become the next president of the United States, according to a new CNBC survey of C-suite executives across the economy. A majority of chief financial officers (55%) say Harris will win the election, according to the Q3 CNBC CFO Council Survey. That’s a reversal from the prior CFO survey in Q2 (when President Joe Biden was still the candidate) and a majority of CFOs (58%) believed Trump would win. About a…
A Southwest Airlines plane takes off from Hollywood Burbank Airport as another Southwest plane taxis on July 25, 2024 in Burbank, California. Mario Tama | Getty ImagesSouthwest Airlines raised its third-quarter revenue forecast on Thursday, announced its board authorized $2.5 billion in share buybacks and detailed a host of changes to its business model as it seeks to fend off activist Elliott Investment Management.The airline said it expects unit revenue to rise as much as 3% in the third quarter over the same period last year, up from a previous forecast of a decline of as much as 2%.The carrier also…
A Just Eat sign displayed at the front of a pizza takeaway shop on May 19, 2020 in Fleet, England.Alex Burstow | Getty ImagesGrubhub-owner Just Eat Takeaway.com said Thursday it had partnered with sex toy retailer Lovehoney Group, in an unexpected expansion into the so-called sexual wellness sector.The Anglo-Dutch online takeaway delivery firm said it would sell some of Lovehoney’s best-selling products, including sex toys from its popular Womanizer, We-Vibe- ROMP and Fifty Shades of Grey products lines.The offering will be available via the company’s Just Eat brand in the U.K. and Denmark, and it’s Liferando food ordering service in…
