Apple on Friday greeted customers at its stores around the world for the debuts of the iPhone 16, Apple Watch Series 10 and AirPods 4.The new products were announced at an event earlier this month and have been available for pre-order since Sept. 13. The company lit up the glass cube at its Fifth Avenue Apple Store in New York City, in a nod to the enhanced Siri, which will light up the borders of the new iPhone’s screen when that feature rolls out next month.Apple’s latest iPhones mark the company’s latest move into artificial intelligence, with new Apple Intelligence…
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Check out the companies making headlines before the bell. Nike — Shares rose 6% after the athletic apparel company announced CEO John Donahue would be retiring from the position . Company veteran Elliott Hill will be coming out of retirement to take the position. FedEx — Shares of the shipping giant shed more than 13% after posting a significant decline in profits and cutting its full-year guidance. Lennar — The homebuilding stock slipped 3% despite beating analysts’ expectations for its fiscal third quarter. The company reported earnings of $4.26 on revenue of $9.42 billion, while analysts polled by LSEG had…
Norma Field walks under power lines coming off of the nuclear plant on Three Mile Island (TMI), with the operational plant run by Exelon Generation, in Middletown, Pennsylvania.Andrew Caballero-Reynolds | AFP | Getty ImagesConstellation Energy plans to restart the Three Mile Island nuclear plant and will sell the power to Microsoft, demonstrating the immense power needs of the tech sector as they build out data centers to support artificial intelligence. Constellation expects the Unit 1 reactor at Three Mile Island to come back online in 2028, subject to approval by the Nuclear Regulatory Commission, the company announced Friday. Unit 1…
Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi at Downing Street on September 16, 2021 in London, England.Hannah McKay – WPA Pool | Getty ImagesEmirati President Sheikh Mohammed bin Zayed Al Nahyan’s first official trip to the United States aims to push the UAE-U.S. relationship to a new “geo-economic phase” centered on economic growth and innovation, top officials said ahead of a meeting of the two leaders in Washington, D.C., on Monday. “The purpose of the visit is really from an Emirati perspective, it’s investing in our future … through an economic lens,” Anwar Gargash, the Emirati leader’s…
For the first time in its century-plus history, the Anti-Defamation League is suing a Fortune 500 company, Intel, joining a case brought by the law firm of Wigdor on behalf of a former Israeli employee of the technology firm. The lawsuit, originally filed in August, claims Intel failed to respond to public antisemitism posted by executives and flagged by an Israeli employee (who later was moved into a position reporting to one of the executives), and ultimately retaliated against him by terminating his employment. The employee “wasn’t just discriminated against, he was targeted [and] victimized,” ADL CEO Jonathan Greenblatt said in an…
(This is CNBC Pro’s live coverage of Friday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) An e-commerce giant and a snack maker were among the stocks being talked about by analysts. Evercore ISI raised its price target on Amazon to $240, implying more than 25% upside ahead. Meanwhile, Morgan Stanley downgraded PepsiCo to equal weight. Check out the latest calls and chatter below. All times ET. 5:49 a.m.: Evercore ISI hikes Amazon price target Evercore ISI is betting big on Amazon’s streaming service. Analyst Mark Mahaney reiterated his outperform rating and…
Pictured here is an Apple flagship store in Beijing, China, on the day of the iPhone 16 launch on Sept. 20, 2024.Bloomberg | Bloomberg | Getty ImagesBEIJING — Many of Apple’s affluent iPhone users in China are just as interested in Huawei’s pricier trifold phone, CNBC found during spot checks at stores Friday, the day the iPhone 16 and Mate XT launched in the country.Out of 10 people CNBC talked to on Friday, eight said they are interested in both the new Huawei and Apple phones. CNBC talked to five individuals at each company’s store during a workday morning.Chinese telecommunications…
Key PointsThe S&P 500 and Dow Jones Industrial Average popped to fresh records Thursday, a day after the Fed lowered rates by a half percentage point.Lee was correctly bullish heading into 2024 and has nailed several bold short-term calls on the market.Tom Lee is not sold on the stock market’s rally after the Federal Reserve cut interest rates. The S & P 500 and Dow Jones Industrial Average popped to fresh records Thursday, a day after the Fed lowered rates by a half percentage point. Many investors expected the central bank to lower rates by just a quarter percentage point.…
An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama.Andrew Caballero-Reynolds | AFP | Getty ImagesMercedes shares fell more than 8% Friday after the German carmaker cut its 2024 guidance on the back of weaker demand from China.The company said late Thursday that it now expects group earnings before interest and taxes (EBIT) to come in “significantly below” the previous year and that its adjusted return on sales would be between 7.5% and 8.5%, down from its earlier forecast of 10% to 11%.Shares pared losses slightly to trade 7% lower as of…
People look at a BYD Dolphin electric subcompact during the 2023 Shenyang International Auto Show on May 3, 2023 in Shenyang, Liaoning Province of China.Vcg | Visual China Group | Getty ImagesChinese electric vehicles will remain competitive in Europe despite the EU’s additional tariffs on autos made in the country, particularly after they were revised lower last month.In the latest tariff revisions at end August, BYD, China’s behemoth automaker, saw tariffs cut to 17% from 17.4%, Geely to 19.3% from 19.9%, and SAIC saw a reduction to 36.3% from 37.6%.To make the European market unattractive for Chinese EV exporters, tariffs…
