Jim Cramer has decided to upgrade Meta Platforms — choosing to view Thursday’s post-earnings stock plunge as a buying opportunity. Meta shares were dropping 12% after the social media giant on Wednesday evening warned of spending increases this year and next to stay ahead in the artificial intelligence race. The Club is bumping Meta stock up to our buy-equivalent 1 rating — a move under consideration after the earnings release, when we opted to reiterate our $825-per-share price target. During Thursday’s Morning Meeting , Jim said members should feel free to buy the Meta dip. But he urged would-be buyers…
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Eli Lilly shares jumped Thursday after the drugmaker posted a strong third quarter, driven by sales of its popular GLP-1 medications. The company also raised its full-year sales outlook for the second time in a row, inspiring confidence in the trajectory of the franchise. Revenue in the three months ended Sept. 30 jumped 54% year over year to $17.6 billion, beating Wall Street expectations of $16.01 billion, according to LSEG. Adjusted earnings per share increased 494% year over year to $7.02, ahead of the $5.69 consensus, LSEG data showed. In last year’s third quarter, EPS of $1.18 included $3.08-per-share worth…
Wall Street is wondering if Chipotle ‘s plan to eat the cost of food inflation will pay off. The fast-casual chain warned Wednesday night that cost increases for its ingredients like meat will weigh on margins, given it doesn’t plan to increase prices in tandem. Analysts are fearful about what that means for its margins and earnings — and, in some cases, are lowering their outlooks for the stock. Chipotle finance chief Adam Rymer told analysts that the company is facing “accelerating” inflation to the mid-single digit percentage range, which he linked to tariffs and higher beef prices. Rymer said…
Bristol Myers Squibb ‘s beat-and-raise quarter wasn’t enough to change our cautious view on the stock as we await updates on one of its promising drugs. Revenue in the third quarter, ended Sept. 30, rose 3% year over year to $12.2 billion, topping the consensus Street estimate of $11.8 billion, according to LSEG. Adjusted earnings per share fell 9% to $1.63, but outpaced expectations $1.51, according to LSEG. Bristol Myers Squibb Why we own it: The company’s new schizophrenia treatment Cobenfy has major sales potential, though it remains in the early innings. Bristol Myers has key products, such as blood-clot…
A Honda sedan moves down the assembly line on Jan. 28, 2025 at the automaker’s assembly plant in Marysville, Ohio. Michael Wayland / CNBCGlobal automakers are once again bracing for production disruptions due to a potential shortage of automotive semiconductor chips, this time sparked by the Dutch government amid geopolitical tensions between the U.S. and China.Honda Motor became the first known automaker this week to reduce production due to the problem that involves chips from Netherlands supplier Nexperia, which is owned by Chinese company Wingtech Technology Co.The industry was hopeful that a meeting this week between President Donald Trump and Chinese…
Corporate travel and expense management platform Navan fell by as much as 15% in its first trading day on the Nasdaq under the ticker symbol “NAVN” after its successful initial public offering.The Navan IPO, which priced on Wednesday night, valued the business-to-business software vendor at $6.2 billion, raising $923 million and with shares settling at the midpoint of its deal range, $25 per share. The valuation was roughly $3 billion less than where private investors last valued Navan in 2022 in a $300 million round.Launched by CEO Ariel Cohen and co-founder Ilan Twig in 2015, Navan set out to disrupt…
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A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.Super PACs supporting Andrew Cuomo and opposing Zohran Mamdani in the New York City mayoral race have raised over $40 million, with millions coming from prominent billionaires and family dynasties, according to election filings.New York billionaires Bill Ackman, Ronald Lauder, William Lauder, Barry Diller and Dan Loeb have all made large donations to a special committee called Fix the City that supports independent candidate Andrew Cuomo, according to election…
Andy Jassy, CEO of Amazon, speaks during an unveiling event in New York on Feb. 26, 2025.Michael Nagle | Bloomberg | Getty ImagesAmazon is slated to post results for the third quarter after the closing bell Thursday.Here’s what analysts polled by LSEG are looking for:Earnings per share: $1.57Revenue: $177.8 billionWall Street is also looking at other key revenue numbers:Amazon Web Services: $32.42 billion expectedAdvertising: $17.34 billion expectedAWS growth will be a major focus for investors once again, as the company faces intensifying pressure from cloud competitors Google and Microsoft, which also reported quarterly results this week.Revenue at AWS is projected…
Key PointsDynamix Corporation III has raised an upsized $175 million in an initial public offering, people familiar with the matter told CNBC.The SPAC may also opt to issue additional shares, raising a total of $201.25 million that will be used to acquire a company in the AI, energy or digital asset class sector.Dynamix III’s launch comes as the SPAC market cautiously emerges from a sharp downturn in new deals.A Nasdaq-listed special purpose acquisition company focused on energy, digital assets and AI has raised an upsized $175 million in an initial public offering. Dynamix Corporation III may also opt to issue…
