CNBC’s Jim Cramer on Thursday listed the CEOs he trusts even when the market doesn’t, primarily naming executives from top tech companies.”Look, it’s right to be skeptical when you’re investing. It’s right to be jaundiced,” he said. “But the bottom line? Not every executive deserves the same level of skepticism if not scorn. Some CEOs have earned your trust.”He attributed some of Thursday’s gains to Wall Street’s realization that many companies aren’t performing as badly as previously thought. The Dow Jones Industrial Average gained 0.58%, the S&P 500 rose 0.75% and the Nasdaq Composite added 1%. Cramer said investors shouldn’t…
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Sopa Images | Lightrocket | Getty ImagesShares of Trump Media continued to sink on Thursday, closing at a fresh low, following Tuesday’s presidential debate between its majority shareholder, former President Donald Trump and Democratic Vice President Kamala Harris.The stock fell 3.6% over the day and closed at $16.07 per share — its lowest close since the company’s public trading debut on the Nasdaq in March.Shares of the Truth Social owner, which trade under the ticker “DJT,” are down nearly 14% since the debate Tuesday night in Philadelphia, hosted by ABC News.The Harris campaign has called the debate a win for…
Deutsche Bank’s Binky Chadha lifted his year-end target for the S & P 500 on Thursday, saying the market has more room to run despite current turmoil. Chadha, the firm’s chief U.S. equity and global strategist, now expects the broad stock market index to end 2024 at 5,750, an increase of 250 points from his prior forecast. That would mark a 3.5% increase from Wednesday’s closing level and a return of 20.5% for the calendar year. He tied this call to the fact that valuations are supported despite being at the top of their fair-value ranges. Chadha also said the…
Mark Zuckerberg, chief executive officer of Meta Platforms Inc., during an interview on “The Circuit with Emily Chang” at Meta headquarters in Menlo Park, California, US, on Thursday, July 18, 2024. Jason Henry | Bloomberg | Getty ImagesA Republican congressman slammed Meta on Thursday over what the lawmaker called an inadequate response to concerns about illicit drug advertisements on Facebook and Instagram.Michigan Rep. Tim Walberg characterized a letter sent by Meta to a bipartisan group of lawmakers on Monday as “unacceptable,” claiming the company failed to address the specific questions the politicians sent to CEO Mark Zuckerberg in August.The questions to…
LAS VEGAS — Four of the past five Stanley Cup championship teams have come from states that don’t collect state income taxes — and seven of the past 10 finalists.Those runs, by the Florida Panthers, Tampa Bay Lightning, Vegas Golden Knights and Dallas Stars, have understandably sparked a debate over whether the teams involved have an unfair advantage in signing players at below-market rates.In many cases, players signing in those states — Florida, Tennessee, Texas, Nevada and Washington are among the states that deduct no further income tax than the federal taxes — would lose millions of dollars over the…
Oracle Corp. CEO Safra Catz walks on the floor of the New York Stock Exchange as Oracle rang the opening bell in celebration of its 10th anniversary of listing on the exchange in New York on July 12, 2023.Spencer Platt | Getty ImagesOracle shares rose about 6% in extended trading on Thursday after the database software maker raised its fiscal 2026 revenue guidance and issued a heady forecast for the 2029 fiscal year.At an analyst meeting coinciding with the Oracle CloudWorld conference in Las Vegas, the company said it now sees at least $66 billion in fiscal 2026 revenue. Analysts…
Manu Chakravarthy, Roche, joins ‘Fast Money’ to talk its weight loss drug trial results. Source link
Traders work on the New York Stock Exchange floor on Sept. 9, 2024.Spencer Platt | Getty ImagesU.S. stock futures were little changed on Thursday evening as traders sought to shake off a sluggish September.S&P 500 futures inched lower by 0.07%. Futures tied to the Dow Jones Industrial Average hovered near the flatline, and Nasdaq 100 futures slipped 0.13%. During Thursday’s regular trading, investors snapped up shares of big tech names, including Nvidia, lifting the S&P 500 and the Nasdaq Composite for a fourth consecutive day. The broad market index is now down 0.9% in September. The 30-stock Dow advanced about 0.6%…
Nvidia ‘s wild price swings are having a strong hold on the entire market, and “insane” options trading in the chipmaker could be the culprit. The tech giant’s stunning 8% rally on Wednesday helped lift the entire S & P 500, which had earlier fallen on a mixed inflation report. Nvidia rallied almost 2% Thursday. While some believe Wednesday’s advance was driven by CEO Jensen Huang’s bullish comments about artificial intelligence , others think the action was mostly triggered by the explosion of short-term options trading activity in Nvidia. “I don’t think yesterday’s +8% ripper in the stock was fundamentally…
Secretary of Commerce Gina Raimondo listens as President Joe Biden participates virtually in a meeting on the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act at the White House on July 25, 2022.Anna Moneymaker | Getty Images News | Getty ImagesIntel has been badly beaten down of late, losing 60% of its value this year as it struggles to find its way in the booming artificial intelligence market while aggressively building out fabs in the U.S. The company is turning to Commerce Secretary Gina Raimondo for help.In a recent meeting with Raimondo, Intel CEO Pat Gelsinger voiced frustration…
