When Lewis Hamilton put on his Ferrari race suit for the first time ahead of his maiden test for the team last month, he needed a moment to adjust to his new look.While putting on a set of overalls is automatic for racing drivers, completed thousands of times through their careers, donning the iconic red of Ferrari is an honor bestowed on so few. And after 12 years in the silver and black of Mercedes, this was a big change for Hamilton.At last, he was in Ferrari red. The excitement and anticipation he felt had been long in the making.…
Author: usaeverydaylife
China’s foreign minister on Thursday defended South Africa’s effort to promote solidarity, equality and sustainability at Group of 20 gatherings this year, even as Secretary of State Marco Rubio boycotted the first high-level meeting in Johannesburg this week because of that focus.The Group of 20 is an annual gathering of the world’s largest economies. South Africa is the first African nation to host the summit. President Cyril Ramaphosa of South Africa has pushed the group to adopt policies that ensure the continent’s nations — and developing countries worldwide — are treated as equals.The theme of this year’s Group of 20…
Check out the companies making headlines in midday trading: Palantir — The technology stock tumbled 11.9%, on track for its worst day since May . The stock is also on pace to see back-to-back losses of 10% or more for the first time ever. Shares took a hit after the disclosure of a new stock sale plan by CEO Alex Karp and comments from Defense Secretary Pete Hegseth pledging to slash defense spending. Robinhood Markets — The commission-free financial services provider briefly fell as much as 8.4% as part of a sell-off in speculative stocks such as Palantir. Walmart —…
Palantir ‘s high valuation leaves little rescue opportunities amid the ongoing selloff , according to Ritholtz Wealth Management CEO Josh Brown. “It’s not like the value guys are waiting and saying, ‘OK, here is where we pounce,'” Brown said Thursday on CNBC’s “Halftime Report.” “It’s kind of in a no-man’s land — it’s either momentum, or it’s value. Right now, it’s in the middle — it’s neither.” Brown pointed to the fact that the stock is trading at a price-to-earnings multiple of more than 500 and a forward multiple of the same measure of more than 180. So even with…
Cameo wants workers back in the office more often, and it’s paying them each $10,000 to show up.Starting this week, workers at the celebrity video-greeting app are reporting into the company’s Chicago headquarters Monday through Thursday. In exchange, the roughly two dozen eligible employees can expect a $10,000 annual raise, free lunch, free parking and access to an onsite gym.”‘Roll out the red carpet’ is our first corporate value, and we really felt like we wanted to make HQ a perk, not a punishment,” Cameo CEO Steven Galanis tells CNBC Make It. “We know we’re asking more out of you…
Boeing 737s on the ground in Renton, Washington.Leslie Josephs | CNBCPresident Donald Trump expressed frustration in recent days about the long wait for a pair of Boeing 747s that will serve as the new Air Force One planes.The planes are years behind schedule. Trump negotiated the $4 billion contract for the aircraft during his first term, and it isn’t clear whether they’ll be ready during his current one. Cost-overruns have totaled more than $2 billion to date. Trump advisor Elon Musk is working with Boeing in hopes of delivering the aircraft faster, the manufacturer’s chief executive Kelly Ortberg reiterated on…
Various Mercedes-Benz vehicles are assembled in the “Factory 56” production hall.Picture Alliance | Picture Alliance | Getty ImagesMercedes-Benz on Thursday announced further cost-cutting and more petrol and diesel cars than EVs in its new product range, in a bid to revive margins as the company braces for a sharp drop in earnings in 2025.The German luxury carmaker will release 19 new combustion engine models and 17 battery-electric cars by the end of 2027, in a sign of a renewed focus on its combustion engine offering after its battery-electric sales collapsed by a quarter last year.Most of the new models will be…
There’s a lot riding on earnings in 2025. Last year saw double-digit earnings growth in the S & P 500 , and the market is counting on another year of double-digit gains to power stocks higher. Unfortunately, earnings estimates for the first quarter have been slipping fast. On Jan. 1, earnings for the first quarter were expected to be up 12.2%. Now, that is down to 8.5%. That’s a decline of 3.7 percentage points, making it the biggest downward quarterly revision since the fourth quarter of 2023. (Walmart on Thursday was the latest example of poor guidance, saying earnings for the…
Shares of IonQ are set to fly high on the back of Microsoft’s recent technological breakthrough, according to D.A. Davidson. Analyst Alexander Platt reiterated his buy rating on the quantum computing stock, with his $50 price target implying shares of IonQ could surge 46% from their Wednesday close over the coming year. IONQ 1Y mountain IonQ 1Y chart Shares of IonQ have more than tripled over the past year, soaring 215% in 12 months. The stock steadied Wednesday after plunging nearly 10% the day before, helped by Microsoft unveiling its first quantum computing chip , Majorana 1. Platt pointed to…
OpenAI’s astounding growth rate potential is luring possible investors as questions loom over whether the startup will go public.”In terms of a multiple to pay for stock like ours, there’s incredible interest at the moment,” finance chief Sarah Friar told CNBC’s David Faber on Thursday. Its future growth potential has also enabled OpenAI to “achieve valuations that are on par with the growth rate of the scale” it is reaching.Friar also called the possibility of the company achieving $11 billion within the “realm of possibility,” adding that the ChatGPT maker’s pace of innovation has prevented it from becoming a “commodity.”Despite…
