GM’s decision to integrate Cruise into its operations and pivot away from the development of robotaxis could have significant implications for the company and competitors and collaborators like Lyft, Uber, Waymo (Alphabet), and Tesla. I’ll discuss it and lay out how to trade it with options. GM’s move appears to prioritize scalable, near-term technologies over speculative long-term projects like robotaxis. A few years ago, when Meta focused massive resources toward building virtual reality at Mark Zuckerberg’s direction, equity investors revolted. The stock fell sharply, and despite Zuckerberg’s voting control of the company, the punishment of the stock’s significant declines eventually…
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Broadcom CEO Hock Tan.Lucas Jackson | ReutersBroadcom reported better-than-expected fourth-quarter earnings on Thursday and said artificial intelligence revenue for the year more than tripled. The chipmaker’s stock ticked higher in extended trading.Here’s how Broadcom did versus LSEG consensus estimates for the quarter ending Nov. 3:Earnings per share: $1.42, adjusted vs. $1.38 expectedRevenue: $14.05 billion vs. $14.09 billion expectedBroadcom said it expects first-quarter revenue of about $14.6 billion, just ahead of the $14.57 billion average analyst estimate. For the fourth quarter, year-over-year revenue increased 51% from $9.3 billion.Net income in the fourth quarter came in at $4.32 billion, or 90 cents…
Unidentified drone in New Jersey.Source: MSNBCThe FBI and Department of Homeland Security said Thursday that they had seen “no evidence” that mysterious drone sightings over New Jersey and adjacent areas in recent weeks “pose a national security or public safety threat.”The agencies also said they had no evidence of a “foreign nexus” to the drones.”Upon review of available imagery, it appears that many of the reported sightings are actually manned aircraft, operating lawfully,” the agencies said in a statement.”There are no reported or confirmed drone sightings in any restricted air space,” the agencies said.Read more CNBC politics coverageThe FBI has…
DALLAS — Brian Cashman recalls reading stories in 2008 that compared his ability to close the CC Sabathia free agency deal to the former coach of his beloved Kentucky Wildcats, John Calipari, walking into a five-star recruit’s living room and securing a commitment.The story of how the New York Yankees landed Sabathia was much simpler than an intricate narrative of how the club needed to lure him with an extravagant presentation. Nothing convinced Sabathia to sign with the Yankees other than one thing.“The truth of the matter is I hit him over the head with a big bunch of cash,”…
President-elect Donald Trump told CNBC’s Jim Cramer on Thursday the stock market is “going to see a lot of good days ahead.” Jim interviewed Trump on the floor of the New York Stock Exchange moments after the president-elect rang the opening bell. In their wide-ranging discussion, Trump said the performance of the stock market is “very important” to him. He also talked about lowering corporate taxes further, Elon Musk and other billionaire tech CEOs he wants to hear ideas from, and the importance of cryptocurrencies and artificial intelligence to the success of America on the world stage. Here are seven…
Next year, five new stocks are due to enter a basket of equities long used by investors on the hunt for a steady income stream. The “Dogs of the Dow,” a strategy popularized by investor Michael O’Higgins in the early 1990s, comprises the 10 members of the Dow Jones Industrial Average with the highest dividend yields. By buying these names, investors bet on receiving a steady stream of cash payouts, in addition to their stock prices appreciating. These stocks also tend to be of higher quality given their inclusion in the 30-stock Dow. Additionally, because dividend yields tend to rise…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Thursday markets: Stocks are taking a breather after Wednesday’s big surge, especially in the Nasdaq Composite and the more narrow “Magnificent Seven” cohort. The yield on the benchmark 10-year Treasury note broke above 4.3% after a look at wholesale inflation for November, known as the producer price index, came in a little on the hotter side. Nevertheless, the market still overwhelmingly expects the Federal Reserve to cut interest rates by a…
DPRK IT workers FBI wanted poster.Source: FBIThe Department of Justice accused 14 North Korean nationals of conspiring to use false identities to get IT jobs with U.S. companies and siphon money back to their home country in violation of U.S. sanctions.The indictment, filed Wednesday in Missouri federal court, alleged that the conspiracy generated at least $88 million between April 2017 and March 2023.All 14 defendants are charged with conspiracy to violate the International Emergency Economic Powers Act, as well as conspiracy to commit wire fraud, money laundering and identity theft. Eight of the conspirators are also charged with aggravated identity…
In a week when he lamented a bias against United States men’s national team players in Europe, Weston McKennie did what he does best.In adversity, the midfielder stood up to be counted and proved that you write him and his USMNT team-mates off at your peril.Left on the bench, alongside compatriot Tim Weah, for their Italian club Juventus as they hosted Manchester City, the pair combined as second-half substitutes to help secure a statement win against Pep Guardiola’s side.Only six minutes after their introduction to the contest, McKennie started a move by finding Weah and then burst into the box,…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Dennis Porter of Satoshi Action Fund discusses a bill from Texas lawmakers that would allow the state to build a strategic bitcoin reserve. Source link
