It began as a scoop in a weekly tabloid: the allegation that a middle-aged former boy-band star turned top television host had paid hush money to a woman for unspecified wrongdoing.Other articles followed, asserting that it was a case of sexual assault, and stirring a wave of public outrage not only toward the ex-singer but also his employer, a major TV broadcaster, for how it handled the situation.On Thursday, the man at the center of the controversy announced his retirement, but the episode had already turned into a moment of reckoning. An international investor has criticized the company, Tokyo-based Fuji…
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Three buzz words this year among politicians and business leaders at the World Economic Forum’s annual meeting in Davos Switzerland: diversity, equity and inclusion.It’s no surprise DEI is on corporate leaders’ minds since it’s been front and center at the White House as well.”My administration has taken action to abolish all discriminatory diversity, equity and inclusion nonsense,” President Donald Trump said Thursday during a virtual appearance in Davos. “America will once again become a merit-based country.”Trump signed an executive order his first day in office aimed at dismantling the federal government’s diversity and inclusion programs. The order as written only…
My top 10 things to watch Friday, Jan. 24 1. Wall Street has a new industrial growth favorite: GE Aerospace . Multiple price target boosts for the engine maker following yesterday’s better-than-expected earnings report, which sent shares up 6.6% in the session. JPMorgan went to $210 a share from $190. UBS went to $235 from $215. 2. Guggenheim broke ranks on GE Vernova , another beloved part of the former General Electric conglomerate. Analysts downgraded the maker of gas and wind turbines to neutral from buy, arguing the easy money has already been made. 3. Barclays and Wells Fargo raised…
U.S. President Donald Trump giving an address by videoconference at the World Economic Forum annual meeting in Davos on Jan. 23, 2025.Fabrice Coffrini | Afp | Getty ImagesThis report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.What you need to know todayBank of Japan hikes ratesThe Bank of Japan on Friday hiked rates by 25 basis points to 0.5%, the highest level since 2008. Following the decision, the Japanese yen strengthened to…
Check out the companies making headlines before the stock market opens. Boeing — The airplane maker slipped slipped 1.3% after preliminary fourth-quarter financial results reflected ongoing struggles. Boeing said it expects to report a loss of $5.46 per share for the fourth quarter on revenue of $15.2 billion, less than analysts’ expectations, according to LSEG estimates. Boeing, which has not posted an annual profit since 2018, said it likely burned through $3.5 billion in cash during the quarter, partly due to a labor strike and new workforce agreement. Novo Nordisk — U.S.-listed shares jumped 14% after the Danish pharmaceutical maker…
Here are Friday’s biggest calls on Wall Street: Cantor Fitzgerald initiates Planet Labs as overweight Cantor said in its initiation of Planet Labs it’s bullish on the satellite imaging company. “AI-derived data price accretion, acceleration of defense/climate threats drives growth, margins.” Oppenheimer initiates Toast as outperform Oppenheimer said the restaurant payment tech company is well positioned. “Initiate coverage of Toast, Inc. (TOST) with an Outperform rating and $46 PT, offering 15% upside potential.” RBC reiterates Tesla as outperform RBC said it’s standing by Tesla heading into earnings next week. “Post election, shares are up over 70%, but we do forecast…
A little-known AI lab out of China has ignited panic throughout Silicon Valley after releasing AI models that can outperform America’s best despite being built more cheaply and with less-powerful chips. DeepSeek, as the lab is called, unveiled a free, open-source large-language model in late December that it says took only two months and less than $6 million to build, using reduced-capability chips from Nvidia called H800s. The new developments have raised alarms on whether America’s global lead in artificial intelligence is shrinking and called into question big tech’s massive spend on building AI models and data centers. In a set of third-party benchmark tests,…
A cartoon image of US President-elect Donald Trump with cryptocurrency tokens, depicted in front of the White House to mark his inauguration, displayed at a Coinhero store in Hong Kong, China, on Monday, Jan. 20, 2025.Paul Yeung | Bloomberg | Getty ImagesJust days into President Donald Trump’s second administration, Wall Street is singing a different tune on crypto.”For us, the equation is really around whether we, as a highly regulated financial institution, can act as transactors,” Morgan Stanley CEO Ted Pick told CNBC on Thursday at the World Economic Forum in Davos, Switzerland.The newfound optimism among an increasing number of bank execs…
Hundreds of thousands of people were without power on Friday in Ireland, an extraordinarily high number for the small country, as a powerful storm moved its way across the island, bringing record-breaking winds and disrupting travel.The storm, named Eowyn, was expected to bring gales throughout Friday, according to the Irish Meteorological Service. Forecasters also said that Northern Ireland, southern Scotland and the northern and western areas of England and Wales would see strong winds. Britain’s national meteorological service issued a red warning, its highest level of alert indicating dangerous weather, for Northern Ireland and parts of Scotland. The hills and…
There’s still more room to run for Netflix after the company’s blockbuster fourth-quarter report, according to Bernstein. The firm upgraded the streaming giant to outperform from market perform and raised its price target to $1,200 per share from $975. Bernstein’s forecast implies nearly 22% upside from Thursday’s close. Netflix this week reported strong fourth-quarter results , with paid subscribers topping 300 million and earnings and revenue beating expectations. “There are more questions than answers about the key drivers of long-term growth for Netflix (e.g., sports, advertising, gaming (?)), but what we do know gives us sufficient confidence for a much-delayed…
