Wall Street analysts are still skeptical on Intel despite its latest moves aimed at righting the ship. Shares of Intel gained more than 3% on Tuesday after the chipmaker said it would turn its foundry business into an independent unit — allowing it to raise outside capital . The company also announced an expanded collaboration to supply Amazon Web Services with Xeon chips and produce a custom AI fabric chip, as well as additional U.S. government funding. Still, Bank of America kept its underperform rating, and JPMorgan reiterated the stock as underweight. Bernstein, Citi and Wells Fargo respectively reiterated their…
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A Starlink terminal installed on a Hawaiian Airlines aircraft.Hawaiian AirlinesPARIS — SpaceX nearly doubled its backlog of Starlink in-flight Wi-Fi orders with last week’s United Airlines deal, a company director said Tuesday.”Very excited that we have about 2,500 aircraft under contract now, bringing what was effectively a startup to now what we think is a growing experience that’s going to resonate with all the passengers and the airlines worldwide,” Nick Galano, SpaceX director of Starlink aviation sales and partnerships, said during a panel at the World Space Business Week conference in Paris.The satellite internet arm of Elon Musk’s space company…
The Apple Series 10 is displayed during an event at the company’s headquarters in Cupertino, California, on Sept. 12, 2023.Loren Elliott | ReutersThe new Apple Watch Series 10 hits stores on Friday. I’ve been testing it for the past five days, and there are enough refinements to appeal to first timers and those considering an upgrade.I wasn’t necessarily excited when Apple announced the new watches earlier this month. The company revealed a slightly thinner design, somewhat larger screens and some software features that will apply to earlier models. But taken together, there’s a good amount to like.The Apple Watch is…
Teenagers on Instagram will soon be automatically placed in a new type of account with built-in privacy restrictions that give parents more control.On Tuesday, Meta, the social media platform’s parent company, will begin rolling out its “teen accounts” feature, which aims to put all teens — including those who may try to lie about their ages — into private accounts that can be messaged, tagged or mentioned only by people they already follow. It’s the company’s most significant move yet to manage how minors use Instagram.The feature is Meta’s latest effort to combat child safety issues across its platforms. In…
Tsingha25 | Istock | Getty ImagesThe Federal Deposit Insurance Corporation on Tuesday proposed a new rule forcing banks to keep more detailed records for customers of fintech apps after the failure of tech firm Synapse resulted in thousands of Americans being locked out of their accounts.The rule, aimed at accounts opened by fintech firms that partner with banks, makes the institution maintain records of who owns the account and the daily balances attributed to the owner, according to an FDIC memo.Fintech apps often use a type of account where many customers funds are pooled into a single large account at…
As global growth continues to slow, investors should get overweight on defensive names, according to UBS. August marked yet another month of declining global growth, as the Global Manufacturing Purchasing Managers’ Index (PMI) reported 49.5 for the month , down from 49.7 in July, according to S & P Global Market Intelligence. That marks the second consecutive month with a reading below 50 – the breakeven threshold for activity – and indicative of a contraction. U.S. factories in August also saw another month of slowing . The Institute for Supply Management monthly survey of purchasing managers found that 47.2% said…
Solstock | E+ | Getty ImagesVictoria Szafarski currently has $10,000 in credit card debt. The New Yorker’s outstanding balance peaked at $25,000 last year, before she took on a second job as a waitress for a few months. The extra cash Szafarski brought in helped her make headway paying down the debt and increase her savings.”I felt very isolated, I felt embarrassed, I felt like a failure,” said Szafarski, 27. More from Personal Finance:How to know if your college kid actually needs ‘dorm insurance’She made up to $110,000 a year as a nanny for the ultra-rich’Recession pop’ is in: How music hits…
For years, Amazon has set the bar for package delivery. When Prime launched in 2005, two-day shipping was unheard of. By 2019, one-day shipping was standard for millions of items. Now, the retail giant is turning to generative AI to drive more same-day shipping.Amazon is using the technology to optimize delivery routes, make more intelligent warehouse robots, create more-ergonomic environments for employees and better predict where to stock new items, said Steve Armato, Amazon’s vice president of transportation technology and services.During an exclusive tour of Amazon’s largest California sort center, located in Tracy, Armato told CNBC that 60% of Prime orders…
Here are Tuesday’s biggest calls on Wall Street: Oppenheimer reiterates Nvidia as a top pick The firm said Nvidia remains a top idea. “We continue to favor structural growth for long-term outperformance. Our top picks are NVDA , AVGO, MPWR, and MRVL.” Bank of America reiterates Amazon as buy Bank of America said it’s sticking with its buy rating on Amazon following CEO Andy Jassy’s letter to employees on Monday. “In a letter to employees, CEO Andy Jassy outlined the goals to: 1) improve the level of ownership over and speed of workflows, and; 2) set up culture for invention,…
If Robert Kaplan still had a say in the matter, he’d be pushing for a half percentage point interest rate reduction at this week’s Federal Reserve meeting.The former Dallas Fed president told CNBC on Tuesday that making the bolder move of 50 basis points would better position policymakers heading into the latter part of the year and the economic challenges ahead.”If I were sitting at the table, I would be advocating for 50 in this meeting,” Kaplan said during a “Squawk Box” interview. “I think the Fed may be a meeting or so late, and if I had a do-over,…
