Warren Buffett does a walkthrough of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 3, 2025. David A. Grogen | CNBCAge isn’t just a number for Warren Buffett after all.The 94-year-old investment legend recently surprised shareholders by announcing his intention to step down as Berkshire Hathaway CEO after an epic 60-year run. The reason behind the decision was the physical effects of aging he has been experiencing, Buffett said in a new interview with The Wall Street Journal.”I didn’t really start getting old, for some strange reason, until I was about 90,” he told the Journal in…
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Mike Intrator, co-founder and CEO of CoreWeave, testifies during a U.S. Senate Commerce Committee hearing on artificial intelligence in Washington on May 8, 2025.Brendan Smialowski | Afp | Getty ImagesShares of artificial intelligence infrastructure provider CoreWeave reported better-than-expected revenue on Wednesday in the company’s first earnings release since going public. The stock popped in extended trading. Here’s how CoreWeave did in comparison with LSEG consensus:Earnings per share: Loss of $1.49Revenue: $981.6 million vs. $853 million expectedRevenue soared 420% in the quarter, which ended on March 31, from $188.7 million a year ago, according to a statement. That compares with 737%…
Greenlight Capital’s David Einhorn gave a new investment idea on Wednesday at the Sohn Investment Conference in New York: Lanxess , a German chemical company. “Today, I’m presenting a company where the management has made excellent strategic decisions but the stock has suffered due to a lot of bad luck,” Einhorn said in a cartoon-littered presentation titled “When bad things happen to good people.” The star hedge fund investor noted that Lanxess has shed its highly cyclical commodity businesses and replaced them with more stable, higher-quality specialty chemicals. Lanxess was founded in 2004 after Bayer AG spun off its chemicals…
Jonathan Raa | Nurphoto | Getty ImagesThe Grok chatbot from Elon Musk’s xAI startup is responding to user queries with unrelated comments about the controversial topic of “white genocide” and South Africa.CNBC on Wednesday found numerous instances of Grok discussing the topic in response to unrelated user prompts. Screenshots of examples were also posted by users across X.When an X user asked Grok to fact-check the salary information of Toronto Blue Jays pitcher Max Scherzer, Grok responded with a non-sequitur that touched on Musk’s controversial views about South Africa, where he was born and raised.”The claim of ‘white genocide’ in…
Jakub Porzycki | Nurphoto | Getty ImagesNvidia on Wednesday climbed into positive territory for the year, becoming the latest “Magnificent 7” member stock to flip into the green amid the broader market’s recovery.The artificial intelligence darling surged more than 4% in the session, bringing its gain for this week above 15%. That rally has pulled the stock up about 0.7% year to date.Stock Chart IconStock chart iconNvidia in 2025Nvidia’s surge above its 2025 flatline comes after CEO Jensen Huang announced Tuesday that the company would sell more than 18,000 of its top AI chips to Saudi Arabia. Huang joined other…
Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November.The company and its peers have been increasingly leaning on advertising to boost the profitability of their streaming products. Netflix first introduced the ad-supported plan in November 2022.Netflix’s ad-supported plan costs $7.99 per month, a steep discount from its least-expensive ad-free plan, at $17.99 per month.”When you compare us to our competitors, attention starts higher and ends much higher,” Netflix president of advertising Amy Reinhard said in a statement. “Even more impressive, members pay…
It takes at least two countries to make a deportation happen: one to send deportees and one to receive them. Typically, the receiving country agrees to take back its own citizens, but the Trump administration is developing other options.The U.S. has sent hundreds of deportees, most of whom appear to be Venezuelans, to El Salvador, where they are being held in a maximum-security prison notorious for its brutality. The U.S. has sent migrants from Asia, the Middle East and Africa to Panama and Costa Rica, including families with young children.The Trump administration is also in early talks with the Rwandan…
A handful of hedge fund founders took the stage Wednesday at the 2024 Sohn Investment Conference in New York to share their best investment ideas.The conference — one of the most anticipated hedge fund events of the year — kicked off with “Next Wave Sohn,” a session that features ideas from leaders in the hedge fund industry.Here are their picks:Alexandra Engler, Arene CapitalAlexandra Engler, managing partner of Arene Capital, pitched Celanese as a top pick primed for sharp gains ahead.Celanese is the world’s largest producer of acetic acid and the most vertically integrated large Western producer of the compound, which…
Large banks have many advantages over smaller counterparts, but several regional bank stocks remain standouts, according to Truist. Plus, they pay solid dividends. Bank stocks have largely reversed course after sinking on President Donald Trump ‘s tariff policy announcement in early April. The SPDR S & P Regional Banking ETF has seen four consecutive weeks of gains and is up about 5% so far this week. Yet the ETF is still down nearly 2% year to date. KRE YTD mountain SPDR S & P Regional Banking ETF in 2025. In this environment, Truist is being selective when it comes to…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailBilly Nolen, former acting FAA administrator, joins CNBC’s ‘Money Movers’ to discuss expectations for Newark Airport in the wake of outages, whether investigations into airports may increase, and more. Source link
