Head coach Chauncey Billups of the Portland Trail Blazers and Terry Rozier #2 of the Miami Heat.Soobum Im | Nick Cammett | Getty ImagesThe union that represents NBA players said Wednesday that it will challenge the suspension of pay for Miami Heat guard Terry Rozier, who was arrested last week on charges related to an alleged basketball betting ring.Rozier and Portland Trail Blazers head coach Chauncey Billups were placed on leave by the NBA after their arrests for separate gambling-related cases on Thursday, and their multi-million-dollar salaries are being withheld by their respective teams as a result, CNBC confirmed.”While we…
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Meta Platforms shares were taking a beating in extended hours trading on Wednesday after management raised its expense guidance and took a massive tax charge. Revenue in the three months ended Sept. 30 climbed 26% year over year to $51.24 billion, easily outpacing the consensus estimate of $48.14 billion, according to LSEG. Adjusted earnings per share came in at $7.25 versus the $6.69 consensus, LSEG data showed. That earnings number does not include a nearly $16 billion, or $6.20 per share, one-time income tax charge due to the implementation of President Donald Trump’s One Big Beautiful Bill Act. Bottom line Given the…
South Korea’s benchmark Kospi Index has been on a record-breaking spree this month, hitting 16 intra-day records so far, propelled by a mix of AI-driven optimism about chip firms and sweeping corporate governance reforms. The rally has pushed the index past the 4,000 mark, with nearly 21% gains in October alone so far. The index has soared more than 72% this year, beating regional peers including Japan’s Nikkei 225, up 26%, and mainland China’s CSI 300 that has gained more than 19%. The rally in South Korea stocks reflects both global AI tailwinds and local structural changes that are steadily…
Headquarters of Samsung in Mountain View, California, on October 28, 2018. Smith Collection/gado | Archive Photos | Getty ImagesSamsung Electronics reported a rebound in earnings on Thursday, with operating profit more than doubling from the previous quarter on a rebound in its chip business. Here are Samsung’s third-quarter results compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate:Revenue: 86.1 trillion Korean won vs. 85.93 trillion won Operating profit: 12.2 trillion won vs. 11.25 trillion wonThe South Korean technology giant’s quarterly revenue was up 8.85% from a year earlier, while its first-quarter operating profit climbed 32.9%…
CNBC’s Steve Liesman joins ‘Fast Money’ to talk today’s Fed rate cut decisions. Source link
A container ship sails past buildings in Busan, South Korea, on Thursday, Sept. 22, 2022. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were mixed on Thursday, after U.S. Federal Reserve Chair Jerome Powell indicated that a rate cut in December was far from a “foregone conclusion.”The Fed on Wednesday slashed the benchmark federal funds rate by 25 basis points, as expected, to bring it to 3.75%-4%.In Asia, investors will closely watch a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping — the first in-person meeting between the two leaders in Trump’s…
Sundar Pichai, chief executive officer of Alphabet Inc., during the Bloomberg Tech conference in San Francisco, California, US, on Wednesday, June 4, 2025. David Paul Morris | Bloomberg | Getty ImagesGoogle parent Alphabet is planning a “significant increase” in spend next year as it continues to invest in AI infrastructure to meet the demand of its customer backlog, executives said Wednesday.The company reported its first $100 billion revenue quarter on Wednesday, beating Wall Street’s expectations for Alphabet’s third quarter. Executives then said that the company plans to grow its capital spend for this year.”With the growth across our business and…
AI is tipped to transform the economy and eventually evolve into a $4.8 trillion market, but the question on everyone’s lips right now is: is the market in a bubble? Everyone from tech CEOs to asset managers and central bankers is worried the promise of AI could quickly turn sour if it doesn’t live up to the hype, but many remain optimistic on the long-term view. CNBC surveyed fund managers to find out what they think makes a bubble — and whether the signs are there today. Expectations vs. reality Blue Whale Growth Fund Chief Investment Officer Stephen Yiu says…
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 17, 2025. David Paul Morris | Bloomberg | Getty ImagesMeta CEO Mark Zuckerberg is sounding a familiar tune when it comes to artificial intelligence: better to invest too much than too little.On his company’s third-quarter earnings call on Wednesday, Zuckerberg addressed Meta’s hefty spending this year, most notably its $14.3 billion investment in Scale AI as part of a plan to overhaul the AI unit, now known as Superintelligence Labs.Some skeptics worry that the spending from Meta and…
Deepwater’s Gene Munster joins ‘Fast Money’ to talk Meta’s investor call. Source link
