DANA POINT, CALIFORNIA – SEPTEMBER 27: Whitney Wolfe Herd, Founder & CEO, Bumble speaks onstage during Vox Media’s 2023 Code Conference at The Ritz-Carlton, Laguna Niguel on September 27, 2023 in Dana Point, California. (Photo by Jerod Harris/Getty Images for Vox Media)Jerod Harris | Getty Images Entertainment | Getty ImagesBumble shares rallied more than 26% Wednesday after the dating app company revealed in a securities filing that it intends to slash 30% of its workforce, or about 240 roles.The layoffs will result in $13 million to $18 million in charges for the company hitting in the third and fourth quarters…
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[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.]President Donald Trump is speaking Wednesday at NATO’s annual summit in the Netherlands.Trump’s comments come days after he announced a ceasefire between Israel and Iran.Subscribe to CNBC on YouTube. Source link
Mark Rutte, secretary general of the North Atlantic Treaty Organization (NATO), left, and U.S. President Donald Trump, during the NATO summit in The Hague, Netherlands, on Wednesday, June 25, 2025. Bloomberg | Bloomberg | Getty ImagesNATO allies on Wednesday agreed to more than double their defense spending target from 2% of gross domestic product to 5% by 2035, in the most decisive move from the alliance in over a decade.In a joint declaration, the Western military bloc said it was “united in the face of profound security threats and challenges,” in particular the long-term threat posed by Russia to Euro-Atlantic…
Check out the companies making headlines before the bell. Rubrik — Shares of the data management software vendor rose 1% after it agreed to buy startup Predibase , a company that helps deploy artificial intelligence models. A person familiar with the transaction said Rubrik intends to pay as much as $500 million as part of the deal, CNBC reported. BlackBerry — The cybersecurity stock popped 7% after first-quarter revenue and profit topped analyst estimates. BlackBerry also raised its full-year guidance for revenue and adjusted earnings before interest, taxes, depreciation, and amortization. Coinbase — Shares rose about 3% on the back…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in gold as well as chip stocks to play the expected increase in global defense spending. Worldwide Exchange pick: Barrick Mining Gina Sanchez of Chantico Global sees Barrick Mining having more upside despite a recent pull back in gold prices. She added that it has an attractive valuation, trading at approximately 10.5 times forward earnings. “The demand for gold will likely continue [and] a proxy for that in…
On a massive, 2,250-acre site about 250 miles north of New Orleans, hundreds of construction workers and tons of heavy equipment are turning former soybean fields into what will be the largest data center in the Western Hemisphere. And in the process, officials say, they are transforming Louisiana’s economy.”It put us on a scale that has a lot of people, not just domestically, but internationally, sort of rethinking Louisiana,” Secretary of Economic Development Susan Bourgeois told CNBC.Meta, the parent company of Facebook, Instagram and WhatsApp, announced in December that it had chosen Louisiana as the site for its largest data…
JPMorgan sees a rosy outlook ahead for Yum Brands . The bank upgraded shares of the Taco Bell, KFC and Pizza Hut owner to an overweight investment rating from neutral, but analyst John Ivankoe lowered his 12-month price target to $162 per share from $170. This revised forecast is still approximately 14% higher than where shares closed Tuesday. Yum has added more than 6% this year, outperforming a gain of less than 4% for the S & P 500. YUM YTD mountain YUM YTD chart Ivankoe cited several catalysts for the stock, including strong free cash flow generation, a lower…
The British pound is widely forecast to continue rising against the U.S. dollar.Matt Cardy | Getty ImagesThe British pound is hovering at its highest level in more than three years — and analysts are divided on the potential for further upside.Britain’s currency was last seen trading around the $1.36 mark on Wednesday morning in London.It marked a slight drop from Tuesday, when sterling hit its highest level since January 2022.So far this year, the pound has surged 8.7% against the greenback.Stock Chart IconStock chart iconGBP/USD priceAgainst the euro, however, sterling is down 2.9% year-to-date. It was last seen trading marginally…
A group of activists criticizing Elon Musk and Tesla’s policies hold a protest outside a Tesla dealership in London’s Park Royal district, on April 12, 2025 in United Kingdom.Anadolu | Anadolu | Getty ImagesTesla new car sales in Europe fell for a fifth straight month in May, according to data from the European Automobile Manufacturers Association (ACEA), as customers pivot to cheaper Chinese electric vehicles.Data published Wednesday by ACEA found that Tesla’s car sales in the European Union, Britain and the European Free Trade Association fell to 13,863 units in May, down 27.9% year-on-year. Tesla’s European market share also dropped…
It’s still early days for Microsoft’s artificial intelligence business, according to Wells Fargo. The bank reiterated its overweight rating on the technology giant and raised its price target to $585 from $565. This updated forecast is approximately 19% higher than where shares closed on Tuesday. “We still see a bright future ahead for Microsoft, driven by continued growth prospects in huge categories of IT spend, ability to further monetize strong positioning in multiple end markets, and a financial profile that continues to exhibit durable margin expansion,” wrote Wells Fargo analyst Michael Turrin. “We acknowledge shares are trading near historical highs,…
