The New York Times stands out in the media landscape because of its thriving subscription business as well as opportunities stemming from artificial intelligence applications, according to Deutsche Bank. Analysts led by Benjamin Soff initiated research coverage of the 173-year-old newspaper’s stock with a buy rating and a $65 price target. Soff’s target Is Wall Street high, according to FactSet data, and suggests the potential for shares to add about 19% from Tuesday’s closing level. “In our view The New York Times’ news publishing is differentiated in today’s media landscape,” Soff wrote in a Wednesday note announcing the call. “At…
Author: usaeverydaylife
The startup’s co-founders, from left: Chief Technology Officer Griffin Cleverly, CEO Bridgit Mendler and Head of Software Shaurya Luthra.Northwood SpaceNorthwood Space, the startup led by former television star and singer Bridgit Mendler, passed its first major development test last week by connecting with Planet imagery satellites in orbit.”We’re building this global network to send data for satellites, built off of phased array technology that we have now successfully validated, both in the lab and in the field,” Northwood CEO Mendler told CNBC.El Segundo, California-based Northwood, unveiled earlier this year, is focused on the ground side of the space connectivity equation.…
Check out the companies making headlines before the bell. Boeing — Shares slipped 1.8% after the aerospace company withdrew a pay raise offer it made to 33,000 machinists on strike since mid-September. With the talks again breaking down this week, the continued strike will cost Boeing more than $1 billion per month, S & P Global Ratings said Tuesday as part of a negative outlook for Boeing’s credit ratings. Reddit — Shares rose more than 2% after Jefferies initiated research coverage with a buy rating and a Sreet-high price target. The investment firm cited advertising and data licensing tailwinds. Alphabet —…
(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 waiting for the Federal Reserve meeting Minutes at 2 p.m. ET and looking ahead to big bank earnings later this week kicking off third-quarter reporting season. Worldwide Exchange Word of the Day: Earnings Stephanie Link of Hightower believes Q3 earnings will be better than LSEG estimates of a 5% increase year over year; seeing potential for an 8-10% increase. Link said: “That’s tied to a better economy, Atlanta Fed tracker is…
My top 10 things to watch Wednesday, Oct. 9 1. The S & P 500 is little changed a day after a nearly 1% bounce-back rally. Tuesday’s gains for the market were driven, in part, by a pullback in oil prices, which had been climbing on Mideast tensions. Crude was modestly lower Wednesday morning. 2. The Justice Department is considering asking a federal court to break up Google. The DOJ announcement late Tuesday follows an August ruling that deemed the Alphabet -owned search giant a “monopolist.” I’m not a fan of DOJ’s proposed remedies. They seem overly punitive and designed…
A view shows the office of TikTok after the U.S. House of Representatives overwhelmingly passed a bill that would give TikTok’s Chinese owner ByteDance about six months to divest the U.S. assets of the short-video app or face a ban, in Culver City, California, March 13, 2024. Mike Blake | ReutersOf the many allegations against TikTok brought by a group of attorneys general, one stands out for its focus on the company’s abusive use of its virtual currency.Brian Schwalb, the attorney general for the District of Columbia, alleged on Tuesday that TikTok is exploiting children financially by operating an unlicensed digital…
Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany.Wolfgang Rattay | ReutersShares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company’s Monsanto unit harmed individuals.The Washington Supreme Court this week accepted a review of litigation against the German company over the impact of polychlorinated biphenyls (PCBs) exposure at the Sky Valley Education Center in Washington state, one of many related cases Bayer is fighting. Previously, an appeals court…
BOULDER, COLO. — Not far from the majestic Rocky Mountains is an ordinary suburban neighborhood, a tree-lined street and a modest light gray home.It’s not the kind of place you’d imagine an investigation into black market Ozempic would lead. But it did.A CNBC investigation into counterfeit weight loss drugs revealed an international illegal marketplace where criminals either brazenly alter the drugs or ship the real product from overseas — what’s known as drug diversion and against federal law.The operations mainly involve phony or illegal versions of Novo Nordisk’s diabetes drug Ozempic and its obesity drug Wegovy as well as Eli…
Here are five key things investors need to know to start the trading day:1. Landing zoneStocks climbed Tuesday as investors look for signs of a so-called soft landing — the Federal Reserve reining in inflation without damaging the economy. The S&P 500 rose nearly 1% for the day, while the Nasdaq Composite climbed about 1.5% and the Dow Jones Industrial Average inched up 0.3%. Since the Fed cut rates by 0.5 percentage points last month, a stronger than expected September jobs report has bolstered hopes that the economy can withstand anti-inflation moves. Market watchers will get some more details on…
The Volvo Cars Hill Country dealership on in Austin, Texas.Brandon Bell | Getty Images News | Getty ImagesSwedish automaker Volvo Cars on Wednesday announced deputy CEO Björn Annwall will step down from his current role as part of a management reshuffle designed to increase simplicity and collaboration in the organization.It comes shortly after Volvo Cars abandoned its near-term goal of selling only electric vehicles (EVs), citing a need to be “pragmatic and flexible.”The auto industry currently faces a perfect storm of challenges on the path to full electrification, including a lack of affordable models, a slower-than-anticipated rollout of charging points…
