Recent hiccups for Nvidia could be the start of broader weakness for the artificial intelligence boom, and investors should consider dialing back their exposure to the stock, according to one small equity research shop. Elazar Advisors downgraded the chipmaker to neutral from buy. Analyst Chaim Siegel said in a note to clients that, while he still believes in the AI story long-term, there are some signs of weakness in the data center business that give reason to be cautious. “Now we’ve seen four quarters of decel in the sequential datacenter growth. Off of huge numbers that’s fine. But last quarter…
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Mario Tama | Getty Images News | Getty ImagesPresident Joe Biden and his administration are sticking to their position of not evoking the Taft-Hartley Act to force International Longshoremen’s Association dock workers back on the job at East and Gulf Coast ports where a strike is hitting day two on Wednesday, a political decision that reflects the power of unions one month out from the election but risks losing some progress on what is the No. 1 issue for many voters: the economy.Rhetoric from Cabinet Secretaries, including Transportation Secretary Pete Buttigieg and Acting Labor Secretary Julie Su, has become sharper…
Check out the companies making headlines before the bell. Humana – Shares plunged more than 22% after the healthcare company announced dire preliminary Medicare Advantage data for 2025. The company said in an 8-K filing that 25% of its members are currently enrolled in plans rated 4 stars and above for next year, which is down from 94% in 2024. Nike – Shares sank 7% after the athletic apparel and sneaker company withdrew its full-year guidance . Nike, which posted an earnings beat and revenue miss for its fiscal first quarter, also postponed its investor day as its new CEO…
US Vice President Kamala Harris speaks during a roundtable conversation about marijuana reform and criminal justice reform, in the Roosevelt Room of the White House on March 15, 2024 in Washington, DC. Kent Nishimura | Afp | Getty ImagesVice President Kamala Harris further positioned herself as a pro-cannabis candidate on Monday in an interview with sports and culture podcast “All the Smoke” — but industry leaders aren’t convinced her administration would lead to the reform she has promised.”I just think we have come to a point where we have to understand that we need to legalize it and stop criminalizing this…
Israel’s Iron Dome anti-missile system intercepts rockets, as seen from Ashkelon, Israel, October 1, 2024 Amir Cohen | ReutersIsrael’s government has vowed a severe response to Iran’s unprecedented missile barrage into Tel Aviv, leaving the Middle East on edge as fears rise over a possible all-out war between the two long-time foes.On Tuesday evening, Iran launched roughly 180 ballistic missiles at several sites across Israel, an attack Tehran said came in response to the Israeli assassination of Hezbollah chief Hassan Nasrallah the week prior.Israeli authorities say there were no casualties as a result of the offensive, and that most of the…
Skynesher | E+ | Getty ImagesMortgage rates moved ever so slightly higher last week, but it was enough to take a little heat out of what had been a briefly red-hot refinance market. That caused total mortgage application volume to fall 1.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.14% from 6.13%, with points increasing to 0.61 from 0.57 (including the origination fee) for loans with a 20% down payment. The rate was 139 basis points higher…
Andrew Forrest, chairman of Fortescue Metals Group Ltd., during the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, US, on Thursday, Nov. 16, 2023.Bloomberg | Bloomberg | Getty ImagesAustralian mining tycoon Andrew Forrest, founder and executive chairman of Fortescue, says it is time for the world to walk away from the “proven fantasy” of net zero emissions by 2050 and to embrace “real zero” by 2040 instead.Speaking to CNBC’s “Street Signs Europe” on Wednesday, Forrest called on business executives and politicians reluctant to make the changes necessary to avert the worst of what the climate crisis has in…
(This is CNBC Pro’s live coverage of Wednesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An apparel giant and a motorcycle maker were among the stocks being talked about by analysts on Wednesday. Baird downgraded Harley-Davidson to neutral from buy. Meanwhile, several analysts on the Street reacted to Nike’s latest quarterly figures. Check out the latest calls and chatter below. All times ET. 5:58 a.m.: JPMorgan downgrades MercadoLibre JPMorgan is stepping to the sidelines on Latin American e-commerce company MercadoLibre . Analyst Marcelo Santos downgraded shares to neutral from overweight. He…
The Starling Bank banking app on a smartphone.Adrian Dennis | AFP via Getty ImagesU.K. financial regulators hit British digital lender Starling Bank with a £29 million ($38.5 million) fine over failings related to its financial crime prevention systems.In a statement on Wednesday, London’s Financial Conduct Authority said it had fined Starling “for financial crime failings related to its financial sanctions screening.” Starling also repeatedly breached a requirement not to open accounts for high-risk customers, the FCA said.Starling was not immediately available for comment when contacted by CNBC.Starling, one of the U.K.’s most popular online-only challenger banks, has been widely viewed…
LONDON, ENGLAND – JUNE 11: Shoppers walk past JD Sports King of Trainers retail shop on Oxford Street on June 11, 2018 in London, England. (photo by John Keeble/Getty Images)John Keeble | Getty Images News | Getty ImagesBritish sportswear retailer JD Sports Fashion is confident it will meet annual profit forecasts after its multi-brand strategy boosted half-year results even as Nike, which accounts for 45% of its sales, struggles.FTSE 100-listed JD, which also sells Adidas, On, HOKA and other brands in Britain, Europe and the United States, said on Wednesday its growth plans were on track despite what it called…
