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https://www.cnbc.com/2025/10/25/us-to-escalate-military-presence-in-south-america-.html?&qsearchterm=S
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U.S. to escalate military presence in South America with aircraft carrier group
| 2025-10-25T00:00:00
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The world's largest aircraft carrier USS Gerald R. Ford seen in the North Sea during NATO Neptune Strike 2025 exercise on September 24, 2025 in the North Sea.
President Donald Trump dramatically escalated a U.S. military buildup in the Caribbean on Friday by deploying the Gerald Ford aircraft carrier group to Latin America, a show of force that far exceeds any past counter-narcotics need and represents Washington's most muscular move yet in the Latin America region.
"The enhanced U.S. force presence in the USSOUTHCOM AOR will bolster U.S. capacity to detect, monitor, and disrupt illicit actors and activities that compromise the safety and prosperity of the United States homeland and our security in the Western Hemisphere," Pentagon spokesperson Sean Parnell posted on X.
He did not specify when the carrier would be moving to the region, but as of a few days ago, the carrier was traveling via the Strait of Gibraltar and in Europe.
The deployment is part of Trump's military buildup in the Caribbean, which includes eight additional warships, a nuclear submarine and F-35 aircraft. It is likely to raise concern in the region about the Trump administration's intent.
The U.S. military has carried out 10 strikes against alleged drug vessels, mostly in the Caribbean, since early September, killing about 40 people. While the Pentagon has not given much information, it has said some of those killed are Venezuelan.
Venezuelan President Nicolas Maduro has repeatedly alleged that the U.S. is hoping to drive him from power.
Washington in August doubled its reward for information leading to Maduro's arrest to $50 million, accusing him of links to drug trafficking and criminal groups that Maduro denies.
The assembly of military firepower far outstrips any imaginable requirement by the U.S. military to strike individual drug targets on land or at sea.
The Ford, which was commissioned in 2017, is the United States' newest aircraft carrier and the world's largest, with more than 5,000 sailors aboard.
The carrier, which includes a nuclear reactor, can hold more than 75 military aircraft, including fighter aircraft like the F-18 Super Hornet jets and the E-2 Hawkeye, which can act as an early warning system.
It has an arsenal of missiles, like the Evolved Sea Sparrow Missile, which are medium-range, surface-to-air missiles used to counter drones and aircraft.
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Intel
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https://www.cnbc.com/video/2025/10/23/intels-q3-earnings-reflect-end-market-growth-says-wedbushs-bryson.html?&qsearchterm=Intel
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Intel's earnings results reflect end market growth, says Wedbush's Bryson
| 2025-10-23T00:00:00
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Intel's earnings results reflect end market growth, says Wedbush's Bryson
CNBC’s “Closing Bell Overtime” team discusses Intel's third-quarter earnings results and what may be next for the company with Matt Bryson, semiconductor and hardware research analyst at Wedbush.
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Intel
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https://www.cnbc.com/video/2025/10/23/intel-ceo-on-q3-earnings-results-reflect-improved-execution-progress.html?&qsearchterm=Intel
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Intel CEO on Q3 earnings: Results reflect improved execution, steady progress
| 2025-10-23T00:00:00
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eBay
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https://www.cnbc.com/2025/10/25/technsports-founder-how-my-clothing-resale-business-brings-in-millions-a-year.html?&qsearchterm=eBay
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41-year-old's clothing resale business brings in $6.5 million a year: 'You don't need a lot of money to start'
| 2025-10-25T00:00:00
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When Rick Senko started re-selling used items on eBay, he was "flat broke" — a recently unemployed single father who was desperate to earn enough money to support his 5-year-old son. That was 2008, and the first item he sold — a cell phone he bought for $35 on Craigslist and flipped on eBay for $75 — felt like discovering a "glitch in the Matrix," says Senko, now 41 and based in Fort Lauderdale, Florida. Realizing he could turn a tidy profit by flipping used items online, he went all in. He studied brands and sales trends, exploiting market inefficiencies and often working up to 20 hours a day "just going to the flea market, going to the thrift store, making relationships, studying my craft, learning, listing [items] every single day," he says. DON'T MISS: The ultimate guide to using AI to communicate better What started as a way to make ends meet slowly grew into a reselling empire, bringing in millions of dollars a year in sales as one of eBay's top sellers. In 2023, Senko started a wholesale business called Technsports that sells up to 5,000 items of used clothing per day to other professional resellers. Technsports brought in more than $6.5 million in 2024 revenue, according to documents reviewed by CNBC Make It. Technsports is profitable overall, with a profit margin of roughly 50% per item sold, Senko says. "I have not taken a day off in almost 20 years," says Senko. "It is not lost on me how fortunate I am. But it also took a tremendous amount of work, a tremendous amount of commitment, and a tremendous amount of sacrifice to get from where I came from to now selling millions of dollars per year and living a very, very fortunate life."
'You don't need a lot of money to start'
After becoming a father at age 18, Senko worked as a CVS photography lab supervisor for five years to make ends meet for himself and his son. He attended a vocational school to earn a computer repair certificate, which landed him a better-paying job at Circuit City in Fall 2008. Two weeks later, Circuit City filed for Chapter 11 bankruptcy protection. Senko found himself out of work and unable to find a new job during the Great Recession. Then, his cellphone broke. "I didn't have a lot of money, so I went onto eBay to get a pre-owned [phone]," says Senko. He saw one on eBay listed for $75, and then spotted the same model of phone on Craigslist for $35. It was a "lightbulb moment" that seemed too good to be true, he says: "I would double the money. I would get a phone for free, and then I would get my original $35 back." Senko bought the Craigslist phone and sold it on eBay for $70, he says. He used the profits to buy another phone on Craigslist, which he flipped on eBay to double his money again. "I've been doing that ever since, for almost 20 years. Rinse and repeat," says Senko, adding: "You don't need a lot of money to start. You don't need a lot of knowledge to start. You just need to start." He initially focused on electronics — from phones to video games, broken or functional, any low-priced item that he could resell within days, he says. As he learned more about which items sold better than others — and where to find in-demand stock — his earnings grew considerably, topping $100,000 in 2010, he says. Around that time, he began shifting his focus to pre-owned clothing, which requires far less "customer support," he says. "A T-shirt is not going to break in the mail." Clothing required a level of research that Senko was willing to do, he notes: While most people understand that electronics can be valuable, "not everybody knows a particular Polo Ralph Lauren shirt could be worth more [than a gaming console] ... Oftentimes those [clothes] are discarded in a pile on the floor at the flea market." Senko started leaving home before dawn and spending most of each day picking through piles of used clothing at South Florida thrift shops, consignment shops, flea markets and garage sales, he says. Reselling gave him freedom and control over his schedule, and tapped into his competitive desire to win at all costs, he adds.
'I get after it every single day'
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eBay
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https://www.cnbc.com/video/2025/10/25/bringing-in-6point5-million-a-year-as-a-used-clothing-reseller.html?&qsearchterm=eBay
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Bringing in $6.5 million a year as a used clothing reseller
| 2025-10-25T00:00:00
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Bringing in $6.5 million a year as a used clothing reseller
Rick Senko, 41, started his reselling career when he doubled his money by flipping a cellphone on eBay in 2008, when he was an unemployed, single father. Now, his business brings in millions.
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PG&E Corporation
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https://www.cnbc.com/video/2025/10/24/procter-gamble-may-be-best-consumer-packaged-goods-firm-jim-cramer.html?&qsearchterm=PG
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Why Jim Cramer says Procter & Gamble may be the best consumer packaged goods company
| 2025-10-24T00:00:00
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Why Jim Cramer says Procter & Gamble may be the best consumer packaged goods company
CNBC's Jim Cramer breaks down what he thinks of Procter & Gamble's business and stock performance.
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Nvidia
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https://www.cnbc.com/2025/10/29/latest-nvidia-announcements-sent-stock-to-record-levels-what-analysts-are-saying.html?&qsearchterm=Nvidia
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Latest Nvidia announcements sent stock to record levels. What analysts are saying
| 2025-10-29T00:00:00
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Nvidia on Tuesday made a series of announcements at its GTC conference in Washington, DC, sending the stock to record levels. Analysts are excited about what comes next. CEO Jensen Huang said he expects $500 billion in AI chip sales. Huang added that the company would partner with the Department of Energy to build seven new supercomputers. The company also said that it is taking a $1 billion stake in Nokia . The companies will work together in a strategic partnership to develop next-generation 6G cellular technology. The announcements sent Nvidia higher on the day by 5%. On Wednesday, shares rose another 3% — putting the chipmaker on pace to become the first company to reach a $5 trillion market capitalization — after President Donald Trump signaled plans to discuss the company's " super duper " chips when he meets with Chinese President Xi Jinping. NVDA YTD mountain NVDA YTD chart Following the recent moves, analysts stood by their bullish stances on Nvidia, with some raising their price targets. Many pointed to the increased visibility into Nvidia's chip sales as a bright spot. Here's what analysts at some of the biggest shops on Wall Street had to say. Goldman Sachs: buy rating, $210 price target Analyst James Schneider's target implies about 4% upside from Tuesday's close. "Although management made a number of announcements with partnerships across different industries (more details below), what stood out to us was comments on the company's revenue visibility to $500bn in cumulative Datacenter revenue in 2025-26. This $500bn revenue estimate is 10% /12% above our / Street estimates of $453bn / $447bn, respectively. We reiterate our Buy rating as we view this increased visibility into CY26 revenues as an incremental positive for the stock." Citi: buy, $210 "Beyond the various key partnerships, we see the company's announcement of an additional 14M in Blackwell and Rubin GPUs over the next 5 quarters (on top of the 6M Blackwell shipped so far) as atypical of NVDA, thus a strong indication of the robust 18 months demand visibility. Additionally, we estimate that embedded in NVDA's $500B Blackwell and Rubin sales (networking included) is $25B+ potential upside to the Street's FY2027 (ending Jan-27) data center sales estimates." Morgan Stanley: overweight, $210 "While GTC is a conference for customers, one slide was for us, as the company talked about $500 bn of cumulative Blackwell/ Rubin revs by end of CY26, implying upside; we add context. Stay OW, remains our favorite name in AI semis." Bernstein: outperform, $225 Bernstein's forecast corresponds to upside of 12%. "Hence it seems the company is likely suggesting well over $300B in CY26 (FY27) datacenter revenues; for context the Street currently sits at ~ $258B, suggesting potential for significant upside to current numbers. … Even up ~50% YTD NVIDIA has still lagged many other AI peers as investors worry about AI over-exuberance (if not a bubble). But it seems clearer and clearer that the time to worry is not now." UBS: buy, $235 UBS' target, raised from $205, calls for 17% upside going forward. "The biggest investor debate we hear these days is whether NVDA's margins are sustainable in light of all this custom ASIC activity. For the foreseeable future, we believe they are because of how far ahead the company is in rack scale ecosystem and given how fast the demand tide is rising. On our higher estimates, we walk our PT up again from $205 to $235 and we very much like the setup here into earnings in 3wks." Bank of America: buy rating, lifts target to $275 from $235 Analyst Vivek Arya's new forecast, lifted from $235, is nearly 37% above Nvidia's Tuesday closing price. "We hosted a very positive meeting with NVDA CFO Colette Kress and members of the IR team, following the CEO keynote, at NVDA's GTC trade show in Washington DC earlier today. The CFO meeting and the keynote enhance our confidence in NVDA's: 1) Solid visibility, 2) Strong alignment with supply chain including multiple memory suppliers, 3) Zero China expectations, any resolution to trade issues incremental, 4) Confidence in maintaining leadership against ASIC and GPU rivals, which have no experience (yet) of standing racks while NVDA already in second-gen (GB300), and 5) Multi-year pipeline (Rubin on track for 2H26E) that continues to drive leverage in new markets (Nokia 6G, Uber self-driving cars, industrial twins, robotics). Meanwhile we think valuation at 32x/25x CY26E/27E PE remains compelling." ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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Nvidia
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https://www.cnbc.com/2025/10/29/nvidia-ceo-jensen-huang-south-korea-trip-what-to-expect.html?&qsearchterm=Nvidia
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Nvidia CEO Jensen Huang starts a key trip to South Korea — here's what he might be up to
| 2025-10-29T00:00:00
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In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT
Nvidia CEO Jensen Huang delivers remarks next to U.S. President Donald Trump at an 'Investing in America' event in Washington, D.C., on April 30, 2025. Leah Millis | Reuters
Nvidia CEO Jensen Huang is headed to South Korea, one of the company's most important markets, ahead of meeting there between U.S. President Donald Trump and his Chinese counterpart Xi Jinping. For Huang, it's expected to be a trip that mixes business and politics with a meeting with Trump on the cards as well as execs from South Korea's biggest firms such as Samsung and SK Group. Market watchers will also be looking out for clues as to Nvidia's future in China. Here's what might happen this week with Nvidia.
Nvidia's key suppliers
South Korea is home to one of Nvidia's most important suppliers: SK Hynix. The company develops so-called high-bandwith memory, or HBM, a specific type of semiconductor that goes into Nvidia's high-end AI systems. Among the execs that Huang is expected to meet is SK Group Chairman Chey Tae-won, Yonhap reported. SK Group is SK Hynix's parent company. The meeting could be a chance to discuss future HBM development. Rival Samsung also develops HBM but its product has not been certified by Nvidia for use. A discussion about the progress on Samsung's HBM could be on the cards as Huang said Tuesday he would meet with the company.
Infrastructure and business deals
Huang has been on a world tour this year visiting countries in the Middle East, Europe and Asia. More often than not, Nvidia has announced infrastructure deals during these trips, outlining how the tech giant will supply its coveted graphics processing unit-based products to data center projects. On the sidelines of the Nvidia developers' conference held in Washington on Tuesday, Huang said his company is partnering with with Samsung and autoamker Hyundai "in many ways" including investing in "AI factories" — a term used to describe data centers. SK Telecom, another subsidiary of SK Group, is currently building data centers in South Korea. Nvidia is planning to supply its chips to SK Group, Bloomberg reported, citing people familiar with the matter. Other areas where Nvidia may announce plans could be driverless cars and robotics, a major area of focus for South Korea's tech industry.
Trump meeting and China
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Nvidia
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https://www.cnbc.com/2025/10/29/nvidia-hits-5t-market-cap-without-china-sales-jim-cramer-says-that-could-change.html?&qsearchterm=Nvidia
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Nvidia hits $5T market cap without big China sales. Jim Cramer says that could change
| 2025-10-29T00:00:00
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Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Wednesday's key moments. 1. The S & P 500 and Nasdaq reached record intra-day highs again Wednesday, supported by strength in megacap tech. Club holding Nvidia is leading the pack. "The markets are higher, but I would tell you that it's disparate. It's not every stock," Jim Cramer said. Investors are also awaiting the Federal Reserve's latest rate decision in the afternoon. Another quarter-point cut is expected. Club name Boeing posted mixed quarterly results Wednesday morning. Management highlighted positive free cash flow for the first time since 2023. Meta , Microsoft , and Starbucks — all portfolio holdings — will report their quarters after the closing bell. 2. Club stock Nvidia on Wednesday became the first U.S. company to surpass a $5 trillion valuation after making a big splash at its annual GTC conference. Nvidia CEO Jensen Huang touted $500 billion of cumulative data center visibility for 2025 and 2026. That's 12% above Wall Street estimates of $447 billion, according to Goldman Sachs. Additionally, President Donald Trump and Chinese President Xi Jinping will continue trade talks Thursday, with Nvidia's Blackwell chips on the agenda. "It could be that this is a major seismic shift within the White House" to allow faster Nvidia chips to be sold in China, Jim said. It would score another "big win" for Nvidia, he added. 3. Corning shares surged more than 5% on Wednesday, erasing losses and then some from Tuesday's post-earnings selloff. The Club stock was unfairly dinged on its earnings release as investors took profits despite an overall solid quarter. We, in turn, purchased more shares of the specialty glass maker on the decline. "This is what we were hoping would happen," Jim said, referring to Wednesday's rebound. Jim forecasted more upside to come for Corning shares, given that the company's a key beneficiary of the AI buildout. That's, in part, because Corning makes fiber optic cables for data centers. "It's not done yet because fiber is going to take over the data center," Jim added. 4. Stocks covered in Wednesday's rapid fire at the end of the video were: Caterpillar , CVS , GE Healthcare Technologies , Verizon , and Brinker International . (Jim Cramer's Charitable Trust is long BA, META, MSFT, NVDA, SBUX, GLW. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Nvidia
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https://www.cnbc.com/2025/10/28/nvidia-jensen-huang-gtc-washington-dc-ai.html?&qsearchterm=Nvidia
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Jensen Huang says Nvidia's AI chips are now being manufactured in Arizona
| 2025-10-28T00:00:00
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In this article NVDA Follow your favorite stocks CREATE FREE ACCOUNT
NVIDIA CEO Jensen Huang speaks during the Live Keynote Pregame during the Nvidia GTC (GPU Technology Conference) in Washington, DC, on Oct. 28, 2025. Jim Watson | AFP | Getty Images
Nvidia CEO Jensen Huang said at the company's GTC conference on Tuesday that its Blackwell graphics processing units — the company's fastest AI chips — are now in full production in Arizona. Previously, Nvidia's fastest GPUs were solely manufactured in Taiwan. Huang said that President Donald Trump had asked him nine months ago to bring manufacturing back to U.S. shores. "The first thing that President Trump asked me for is bring manufacturing back," Huang said. "Bring manufacturing back because it's necessary for national security. Bring manufacturing back because we want the jobs. We want that part of the economy." Earlier this month, Nvidia and Taiwan Semiconductor Manufacturing Company announced that the first Blackwell wafers had been produced in a facility in Phoenix. Wafers are the base material on which semiconductors are etched. Nvidia said in a video that Blackwell-based systems will now be assembled in the U.S., too. Much of what the company announced on Tuesday at its conference in Washington was for an audience of policymakers to convince them of the essential role that Nvidia plays, and that it would hurt U.S. interests to restrict its exports. Huang said on Tuesday on a panel before his speech that Nvidia was holding its conference in Washington to allow Trump to attend, according to CNBC's Kristina Partsinevelos, but the president is currently on a trip in Asia. Trump said on Tuesday that he planned to meet with Huang on Wednesday, according to a Reuters report. Demand for the company's GPUs remains high, with 6 million Blackwell GPUs shipped in the last four quarters, Huang said Tuesday. Nvidia expects $500 billion in GPU sales between the Blackwell generation and next year's Rubin chips combined, he added.
Cell networks 'built on foreign technologies'
Additionally, Huang Tuesday said Nvidia would partner with Finland-based Nokia to build gear for telecommunications, an industry that he said was worth $3 trillion. As part of the partnership, Nvidia will take a $1 billion stake in Nokia. Huang said that Nvidia is building chips for 5G and 6G base stations because it's important to have wireless networks based on American technology. "Thank you for helping the United States bring telecommunication technology back to America," Huang said to Nokia CEO Justin Hotard during his speech. The deal is an appeal to Western policymakers who have long had concerns about the amount of technology from China's Huawei that's used for cellular networks around the world. "Our fundamental communication fabric is built on foreign technologies," Huang said. "That has to stop, and we have an opportunity to do that, especially during this fundamental platform shift." Nokia will use Nvidia chips in its future base stations, which are the pricey computers that distribute cellular signals. Huawei, the market leader, was effectively banned in the U.S. in 2018, leaving Nokia and Ericsson as the primary equipment vendors for U.S. networks. Huang said that Nokia would be using a new product called Nvidia ARC that combines its Grace GPU, a Blackwell GPU and the company's networking parts. Huang said that AI delivered over next-generation 6G networks could help operate robots and deliver more accurate weather forecasts.
Stakes are high
The location of the conference carries significance as Nvidia makes the case that it is a core part of the "U.S. technology stack." Huang has argued that it would be better for American interests if Chinese AI developers got used to U.S. technology like Nvidia's chips, rather than forcing the Chinese to develop their own AI chips. "Nvidia is a proud American company building the U.S. AI infrastructure that will ensure our country leads the world in shaping the future of innovation," Kari Briski, Nvidia's vice president of generative AI software for enterprise, told reporters on a Monday call. The stakes are high for Nvidia. U.S. export restrictions have already cost Nvidia billions of dollars in lost sales. In April, the U.S. government informed Nvidia that its H20 chip, which was specially designed to comply with U.S. export controls, would require a license to ship to China. In May, Nvidia said it would have recorded about $10.5 billion in H20 sales over two quarters if the government hadn't made the license requirement. Then, in July, Huang visited Trump in Washington and again tried to persuade him and other administration officials that it's in U.S. interests to ship Nvidia chips to China. The Trump administration said it would approve license requests for the H20, but that Nvidia would have to pay the U.S. government 15% of China sales. Still, Nvidia's China business isn't yet back on track. Earlier this month, Huang said at a financial conference that Nvidia is currently "100% out of China" and has no market share there. While Nvidia said it would receive licenses for the H20 chip, the company hasn't revealed a newer chip for China based on the company's current generation of Blackwell GPUs.
Quantum computing
Many of Nvidia's announcements on Tuesday were partnerships intended to signal that the company works with a variety of U.S. companies. Among those announcements was NVQLink, a new way to connect quantum chips to Nvidia's GPUs. The U.S. having a lead in quantum computing is important to policymakers because military officials are worried that a foreign adversary may be able to spy on military communications if it gets a working quantum computer first. Nvidia officials said in a Monday call that its chips can be used to correct errors that pop up during quantum computing and advance the technology. Nvidia said that 17 different quantum computing startups would produce hardware compatible with NVQLink. "Researchers will be able to do more than just error correction," Huang said Tuesday. "They will also be able to orchestrate quantum devices and AI supercomputers to run quantum GPU applications." Nvidia also said it will partner with the Department of Energy to build seven new supercomputers. WATCH: Nvidia CEO: We brought GTC to DC so President Trump could attend
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Nvidia
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https://www.cnbc.com/2025/10/29/trump-signals-he-plans-to-speak-to-chinas-xi-about-nvidias-super-duper-chips.html?&qsearchterm=Nvidia
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Trump signals plans to discuss Nvidia's 'super duper' chips during talks with China's Xi
| 2025-10-29T00:00:00
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U.S. President Donald Trump speaks to journalists in Japan aboard Air Force One en route to South Korea on October 29, 2025.
U.S. President Donald Trump plans to discuss Nvidia's advanced AI chips with Chinese President Xi Jinping during their meeting on Thursday, he told a media scrum Wednesday.
While taking questions regarding his high-stakes meeting with Xi, Trump signaled that Nvidia's Blackwell AI processors could be discussed.
"We'll be speaking about Blackwell, it's the super duper chip," he said. Nvidia's "super duper chip" appeared to refer to the GB200 Grace Blackwell Superchip — its most advanced AI chip.
More broadly, Nvidia's Blackwell architecture represents its latest generation of AI chips, or 'graphics processing units,' used to train and run large language models.
Trump went on to laud Nvidia's Blackwell chips, claiming that they are about a decade ahead of any other chip.
"That's our country. We're about 10 years ahead of anybody else in chips — in the highly sophisticated chips. I think we may be talking about that with President Xi."
The comments come as Nvidia faces an uncertain future in China, once a lucrative market for the AI darling.
While export controls have long prevented Nvidia from selling its most advanced AI products to China, Washington had rolled back restrictions on the chipmaker's less advanced, made-for-China H20 chips in July.
Trump later indicated that he might also allow a downgraded version of Nvidia's Blackwell chips into China.
But in a surprise move, Beijing recently stepped in to prevent its companies from importing Nvidia's chips amid national security concerns regarding the company's technology. As a result, Nvidia CEO Jensen Huang said earlier this month that the company is currently "100% out of China" and has no market share there.
However, many analysts view the Chinese ban as likely temporary, saying Beijing could be using Nvidia's access to its market as leverage in its trade negotiations with the Trump administration.
Despite Trump's remarks about Nvidia's "super duper chip," it seems more likely that a less advanced version would be on the table.
In August, Reuters reported Nvidia was developing a new chip for China — dubbed the B30A — that would be more powerful than the H20 and built on the Blackwell architecture.
Such a chip would hypothetically help Nvidia fend off growing competition from domestic players like Huawei, as Beijing accelerates its efforts to develop a self-sufficient AI environment.
However, semiconductor experts said a resumption of H20 exports, or an additional pathway for the B30A, would also help China's AI ecosystem more broadly and undermine Washington's strategy to curb Chinese access to cutting-edge computing, which began ramping up in 2022.
A report released earlier this week from the Institute for Progress, a U.S. think tank, argued that allowing B30A exports to China would dramatically shrink America's current AI compute advantage over China.
Huang, who has long lobbied against U.S. chip restrictions, will reportedly be in South Korea at the same time as Trump this week. The Nvidia CEO is expected to make announcements with local partners, which Huang said would hopefully be "delightful to the people of Korea and really delightful to President Trump."
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Nvidia
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https://www.cnbc.com/2025/10/29/nvidia-5-trillion-market-cap-ai-disney-mcdonalds-ford-macys.html?&qsearchterm=Nvidia
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Nvidia's $5 trillion market cap is equivalent to around 25 Disneys, 50 Nikes and more than 3,000 JetBlues
| 2025-10-29T00:00:00
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An Nvidia chip is seen through a magnifying glass in Beijing, China, on August 1, 2025.
Nvidia on Wednesday became the first company to surpass the $5 trillion market cap milestone, meaning it looms even larger over other stocks and markets.
The stock jumped as much as 5.5% in the session, propelling the chipmaker above that closely watched level. The chipmaker has become a favorite of both Main Street and Wall Street after years of monster gains tied to its leadership within artificial intelligence.
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Nvidia
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https://www.cnbc.com/2025/10/29/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=Nvidia
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Nvidia's day of deals, the Fed decision, Boeing earnings and more in Morning Squawk
| 2025-10-29T00:00:00
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Jensen Huang, chief executive officer of Nvidia Corp., during a Bloomberg Television interview at the Nvidia AI summit in Washington, DC, US, on Tuesday, Oct. 28, 2025. Kent Nishimura | Bloomberg | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Hand over fist
2. Decision day
Jerome Powell, chairman of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Fall meetings at the IMF headquarters in Washington, DC, US, on Thursday, Oct. 16, 2025. Kent Nishimura | Bloomberg | Getty Images
The Federal Reserve will announce its penultimate interest rate decision for 2025 at 2 p.m. ET today, and traders see a cut as a foregone conclusion: Fed funds futures are pricing in a 99.9% chance of a 25 basis point cut, according to the CME's FedWatch tool. Still, investors will keep an eye on whether any Fed officials break with the majority, and whether Fed chair Jerome Powell's post-announcement press conference provides any clues into the future path on monetary policy. Respondents to CNBC's October Fed Survey also expressed concern about how the central bank is analyzing the economy with some data on hold thanks to the government shutdown.
3. What's in a name?
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty Images
OpenAI officially wrapped up its restructuring into a nonprofit yesterday. The startup's nonprofit, now named the OpenAI Foundation, has a controlling stake worth around $130 billion in OpenAI's for-profit business, which is called OpenAI Group PBC. (PBC stands for public benefit corporation.) The buzzy AI startup also confirmed that longtime backer Microsoft holds an investment in the for-profit arm that amounts to $135 billion. As CNBC's Ashley Capoot notes, that's equivalent to about 27% of the company on an as-converted diluted basis. Microsoft is set to report earnings after the bell today, along with Big Tech peers Alphabet and Meta .
4. One month in
The U.S. Capitol building, weeks into the continuing U.S. government shutdown, in Washington on Oct. 27, 2025. Kylie Cooper | Reuters
The federal government shutdown is officially one month old — and Washington is feeling the heat. A group of more than two dozen states sued President Donald Trump's administration yesterday to maintain benefits tied to the Supplemental Nutrition Assistance Program, also known as SNAP, which provides food stamps. The Agriculture Department, which oversees SNAP, has said the benefits will end this weekend. A federal judge yesterday also extended a temporary ban on firing federal workers during the shutdown. Air traffic controller union officials meanwhile said some of their members have picked up second jobs to bring in money while they work without pay.
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5. Flight status
A Boeing 777X sign in the Boeing Co. booth at the Aircraft Interiors Expo (AIX) in Hamburg, Germany, on Tuesday, April 8, 2025. Bloomberg | Bloomberg | Getty Images
Shares of Boeing are slightly down in premarket trading this morning after the planemaker reported earnings for its third quarter. The company returned to cash-positive territory for the first time since 2023 but logged a $4.9 billion charge tied to delays of its 777X plane. Boeing — which has been plagued by manufacturing and supply chain issues, as well as the fallout of two crashes — is on track for its most deliveries since 2018. CEO Kelly Ortberg, who took Boeing's helm in 2024, said in a staff note that "there's still more work to do to advance our development programs" but "we're seeing positive signs across our business."
The Daily Dividend
The following chart shows how U.S. regional banks have fared since 2020. CNBC's Hugh Son talked to the activist investors targeting underperforming financial institutions.
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Nvidia
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https://www.cnbc.com/2025/10/28/eli-lilly-is-stockpiling-its-weight-loss-pill-plus-nvidia-reveals-new-partners.html?&qsearchterm=Nvidia
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Eli Lilly is stockpiling its weight loss pill, plus Nvidia reveals (many) new partners
| 2025-10-28T00:00:00
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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. Market update: The market received a boost after The Wall Street Journal reported that President Donald Trump and Chinese President Xi Jinping will discuss halving the 20% tariff on chemicals used to produce fentanyl at their upcoming meeting. If this happens, the average tariff on most Chinese goods would drop to 45%. More partners for Nvidia: Nvidia is making a bunch of headlines at its GTC conference in Washington, D.C. One notable announcement was a $1 billion investment in Finnish telecom company Nokia . The two companies formed a strategic partnership to develop next-generation 6G cellular technology. Nvidia is also teaming up with T-Mobile to integrate AI-RAN technologies into its 6G development. The world needs a network that can handle all the computing needs of the many AI-native devices and applications expected to be developed in the coming years. That's why Nvidia's partnership with telecom providers makes a lot of sense. It's difficult to keep up with all the headlines coming out of the event, including a collaboration with Oracle to build the Department of Energy's largest AI supercomputer for scientific discovery and a partnership with CrowdStrike to make cybersecurity AI agents. Nvidia also said it is partnering with Eli Lilly to build what they're calling the pharmaceutical industry's "most powerful" supercomputer to help develop new drugs. CEO Jensen Huang also put out some rosy numbers around the ramp of Grace Blackwell, its next-generation AI chip, over the next five quarters. All the news is resulting in Nvidia shares rallying about 5% to a fresh record high. Drugmaker ramps up : Eli Lilly is stocking up on its oral weight loss pill. Speaking at an event hosted by the Economic Club of Chicago on Monday, Eli Lilly CEO David Ricks said the company has already made "billions of doses" of the pill, called orforglipron, for its expected launch next year. "That will make this sort of the 'GLP-1 for all," Ricks said. Eli Lilly hasn't yet submitted orforglipron for FDA approval but is expected to do so before the end of the year. Eli Lilly reports its third-quarter earnings on Thursday before the opening bell, and this orforglipron stockpile isn't going to sway the quarter. But it shows a whole lot of confidence in the upcoming launch, and it's good to know the medication won't experience the same type of supply bottlenecks as the injections (Mounjaro and Zepbound) originally did. Up next: Visa , Enphase Energy , ONEOK , Bloom Energy , Booking Holdings , Seagate Technology , Mondelez International , and Caesars Entertainment report earnings after the bell. Boeing , Verizon , GE Healthcare , CVS Health , Caterpillar , Otis , Fiserv , Centene , Etsy , Brinker International , and American Electric Power report on Wednesday before the bell. Tomorrow is also Fed day, with the Federal Open Markets Committee expected to lower interest rates by 25 basis points to a range of 3.75% to 4.00%. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Nvidia
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https://www.cnbc.com/2025/10/28/eli-lilly-nvidia-supercomputer-ai-factory-drug-discovery.html?&qsearchterm=Nvidia
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Eli Lilly, Nvidia partner to build supercomputer, AI factory for drug discovery and development
| 2025-10-28T00:00:00
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Lilly Chair and CEO Dave Ricks speaks during a press conference for Eli Lilly and Company in Houston, Texas, U.S., Sept. 23, 2025.
Eli Lilly and Nvidia are partnering to build what they call the pharmaceutical industry's "most powerful" supercomputer and so-called AI factory to help accelerate drug discovery and development across the sector, the companies announced Tuesday.
It's the latest stride by Nvidia and the pharmaceutical industry to harness AI to help shorten the time it takes to bring cures to patients, while reducing costs at every stage of drug discovery and development. The process typically takes about 10 years on average from dosing the first human with a drug to its launch on the market, said Diogo Rau, Eli Lilly's chief information and digital officer, in an interview.
Eli Lilly expects to complete the buildout of the supercomputer and AI factory in December. They will go online in January. But the new tools likely won't yield significant returns for the company's business and that of any other drugmaker until the end of the decade.
"The things that we're talking about discovering with this kind of power that we have right now, we're really going to see those benefits in 2030," Rau said.
The industry's efforts to use AI to bring medicines to people faster are still in the early stages. There are no drugs on the market designed using AI, but progress is evident in the number of AI-discovered drugs entering clinical trials, recent AI-focused investments and partnerships among drugmakers.
Eli Lilly will own and operate the supercomputer, which will be powered by more than 1,000 Blackwell Ultra GPUs – a newer family of chips from Nvidia – connected on a unified, high-speed network. The supercomputer will power the AI factory, a specialized computing infrastructure that will develop, train and deploy AI models at scale for drug discovery and development.
The supercomputer "is really a novel scientific instrument. It's like an enormous microscope for biologists," said Eli Lilly's Chief AI Officer Thomas Fuchs. "It really allows us to do things we couldn't do before at that enormous scale.
Scientists will be able to train AI models on millions of experiments to test potential medicines, "dramatically expanding the scope and sophistication" of drug discovery, according to a release from Eli Lilly.
While finding new drugs isn't the only focus of the new tools, it is "where the big opportunity is," said Rau.
"We're hopeful that we'll be able to discover new molecules that we never would have with humans alone," he said.
Several AI models will be available on Lilly TuneLab, an AI and machine learning platform that allows biotech companies to access drug discovery models that Eli Lilly has trained on years of its proprietary research. That data is worth $1 billion.
Eli Lilly launched that platform in September as a way to expand access to drug discovery tools across the sector.
"It's really powerful to be able to give that extra starting point to these startups that, you know, otherwise could take a couple of years burning their capital to get to that point," said Kimberly Powell, Nvidia's vice president of health care, adding that the company is "delighted to participate" in that effort.
In exchange for access to the AI models, biotech companies are expected to contribute some of their own research and data to help train them, Rau noted. The TuneLab platform employs so-called federated learning, which means that companies can take advantage of Lilly's AI models without either side directly sharing data.
Eli Lilly also plans to use the supercomputer to shorten drug development and help get treatments to people faster.
The company said new scientific AI agents can support researchers, and advanced medical imaging can give scientists a clearer view of how diseases progress and help them develop new biomarkers — a measurable sign of a biological process or condition — for personalized care.
"We would actually like to deliver on that promise of precision medicine," Powell said. "Without an AI infrastructure and foundation, we'll never get there, right? So we're doing all of the necessary building, and now we're seeing this true lift off, and Lilly is an exact example of that."
Precision medicine is an approach that tailors disease prevention and treatment according to differences in a person's genes, environments, and lifestyles.
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Nvidia
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https://www.cnbc.com/2025/10/28/jensen-huang-speech-nvidia-gtc-ai.html?&qsearchterm=Nvidia
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Watch: Jensen Huang delivers keynote speech for Nvidia GTC
| 2025-10-28T00:00:00
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Nvidia CEO Jensen Huang will deliver a keynote speech from Washington at 12 p.m. ET Tuesday for the company's second GTC conference this year.
Although the event is typically held in San Jose, California, Huang said during the keynote pregame that the conference was moved to the capital so that President Donald Trump could attend. Trump, however, was unable to attend due to his five-day Asian tour to Malaysia, Japan and South Korea.
Trump is expected to meet with Chinese President Xi Jinping to possibly calm trade tensions between the U.S. and China. Huang's address will potentially provide some clarity for investors on the chipmaker's role in the artificial intelligence race between the two countries.
The Trump administration allowed Nvidia and Advanced Micro Devices computing chips to be sold to China under the agreement that the two would share 15% of their revenue to the U.S. government. However, in September, Beijing prohibited major Chinese tech companies from purchasing AI chips from Nvidia.
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Microsoft
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https://www.cnbc.com/2025/10/29/microsoft-msft-q1-2026-earnings-report.html?&qsearchterm=Microsoft
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Microsoft reports earnings beat as Azure revenue climbs 40%
| 2025-10-29T00:00:00
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Microsoft reported better-than-expected results for its fiscal first quarter as revenue in the company's Azure cloud business jumped 40%. The stock slipped in extended trading.
Earnings per share: $4.13 adjusted vs. $3.67 per share expected
$4.13 adjusted vs. $3.67 per share expected Revenue: $77.67 billion vs. $75.33 billion expected
Revenue increased 18% in the fiscal first quarter from $65.6 billion a year ago, according to a release. Net income rose to $27.7 billion, or $3.72 per share, from $24.67 billion, or $3.30 per share, during the same period last year.
Microsoft said its investment in OpenAI resulted in a $3.1 billion hit to net income in the quarter, equivalent to 41 cents per share.
Microsoft's Intelligent Cloud unit, which includes Azure, reported $30.9 billion in revenue, up 28% from a year ago and above the StreetAccount consensus of $30.25 billion. Growth in Azure, which competes with Amazon Web Services and Google Cloud, also beat estimates, as analysts polled by StreetAccount had anticipated 38.2% expansion.
Cloud continues to be the big driver of growth at Microsoft, as the business has proven to be a major beneficiary of the AI boom. Last quarter, Microsoft disclosed the scale of its Azure cloud infrastructure business in dollars for the first time. The company said revenue in fiscal 2025 from Azure and other cloud services jumped 34% from the prior year to more than $75 billion.
Microsoft's Productivity and Business Processes segment, which is home to Office productivity software and LinkedIn, delivered $33 billion in revenue for the first quarter, above the $32.33 billion consensus among analysts polled by StreetAccount.
The More Personal Computing unit, which includes Windows, search advertising, devices and video games, reported 4% growth to $13.8 billion in revenue. That was above StreetAccount's $12.83 billion consensus.
Microsoft's earnings landed hours after the company experienced an outage in Azure and its 365 services. Various websites and games were down for hours, and Microsoft said it expects recovery by this evening.
Microsoft shares are up 28% this year, as of Wednesday's close, and hit a record a day earlier. Much of its AI momentum has been attributed to its tight relationship with OpenAI.
On Tuesday, OpenAI announced it has completed its restructuring and formally outlined Microsoft's stake in the company. Under the new structure, OpenAI's nonprofit will hold a 26% stake in its for-profit arm, worth about $130 billion. Microsoft will hold a 27% stake worth about $135 billion, and current and former employees and investors will own the remaining 47%.
Microsoft is scheduled to hold its quarterly call with investors at 5:30 p.m. ET.
Analysts will be listening closely to the company's capital expenditures as it races to build out the infrastructure necessary to support AI demand.
Microsoft said in July that it expected to spend $30 billion in capex and assets acquired through leases during the quarter, representing annual growth of more than 50%. CFO Amy Hood told investors at the time that capex will grow in fiscal 2026, but it will be a slowdown from 2025.
This is breaking news. Please check back for updates.
WATCH: Microsoft market cap jumps to $4 trillion
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Microsoft
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https://www.cnbc.com/2025/10/29/microsoft-hit-with-azure-365-outage-ahead-of-quarterly-earnings.html?&qsearchterm=Microsoft
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Azure outage: Microsoft still working on fix, says recovery expected in several hours
| 2025-10-29T00:00:00
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Microsoft CEO Satya Nadella departs following a meeting of the White House Task Force on AI Education in the East Room of the White House in Washington on Sept. 4, 2025.
Microsoft was hit with outages in its Azure cloud and 365 services on Wednesday, hours before the company's scheduled earnings release.
Users on social media reported problems accessing their sites and services running on Microsoft's products, and the company's websites, including its Xbox and investor relations pages, were down. The problems began around 11:40 a.m. ET, according to Downdetector, which relies on user reports.
"We are working to address an issue affecting Azure Front Door that is impacting the availability of some services," a Microsoft spokesperson said in an emailed statement. "Customers should continue to check their Service Health Alerts and the latest update on this issue can be found on the Azure status page."
The Azure support account on X said, "We're investigating an issue impacting several Azure services," and that "customers may experience issues when accessing services."
The latest update on Azure's status page says that issues began with AFD at about noon ET, and that customers and Microsoft services using AFD "may have experienced latencies, timeouts and errors." The company said it suspects an "inadvertent configuration change" was the trigger, and that it's "rolling back to our last known good state" for AFD services.
Microsoft said that it anticipates "recovery to happen" by 7:20 p.m. ET.
"Although we are seeing signs of recovery and have an estimated timeline, customers may also consider implementing failover strategies using Azure Traffic Manager to redirect traffic from Azure Front Door to their origin servers as an interim measure," the company wrote.
Microsoft's 365 status account wrote that its services are "experiencing downstream impact related to the ongoing Azure outage."
The service disruptions come a little over a week after larger rival Amazon Web Services reported a major outage that took down numerous websites. Throughout the day on Oct. 20, AWS said it observed "increased error rates" for customers when trying to launch new instances in EC2, its popular cloud service that provides virtual server capacity.
AWS leads in cloud infrastructure with 32% of the market as of the first quarter, according to Canalys. Azure is second at 23%, followed by Google's cloud unit at 10%. Azure and Google Cloud have been growing faster of late, driven by a boom in artificial intelligence workloads.
All three companies are set to report quarterly results this week, starting with Microsoft and Google parent Alphabet on Wednesday after the bell. Amazon reports on Thursday.
Alaska Airlines said on Wednesday afternoon that it's currently "experiencing a disruption to key systems," including websites, due to the outage on Azure, "where several Alaska and Hawaiian Airlines services are hosted." Alaska closed its $1.9 billion acquisition of Hawaiian last year.
In March, Microsoft suffered an outage over a weekend that left tens of thousands of users unable to access their Outlook email accounts and other programs.
WATCH: Microsoft hit with Azure, 365 outages
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Microsoft
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https://www.cnbc.com/2025/10/29/what-analysts-are-looking-for-in-microsoft-meta-and-alphabet-earnings.html?&qsearchterm=Microsoft
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It's tech's biggest earnings day. What top analysts are looking for in Microsoft, Meta and Alphabet results
| 2025-10-29T00:00:00
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Wall Street is gearing up for the biggest earnings day for megacap tech, with reports from Meta , Microsoft and Alphabet due out after Wednesday's market close. Investors are keeping a close eye on how the biggest tech names perform as these results could be the factor that pushes stocks to further heights — or leads to an unwind of the bull market. Tech earnings have grown crucial in recent years, particularly amid the rise of artificial intelligence. A select group of megacap companies are trading at record levels, with just eight — Nvidia , Microsoft, Apple , Alphabet, Amazon , Meta, Tesla and Broadcom — making up roughly 37% of the S & P 500. Analysts are looking for key clues to gauge AI growth, spending and performance from each of the three tech giants reporting Wednesday. From Meta, for example, Bank of America analyst Justin Post expects a clear revenue beat but is looking for updates on the company's AI deals and industry competition, particularly as ChatGPT-maker OpenAI is focusing more on ads and social media. Concerns remain about Meta's significant AI spending and how it will manifest in long-term growth. Google parent Alphabet is also under scrutiny about its AI positioning and how its search business fares against increasing chatbot competition, even as its shares have recovered in recent weeks. "With reports of additional AI hiring, potential LLM & infrastructure deals, and OpenAI social competition, we think updates on Meta's AI outlook will be a call focus and critical for sentiment. Also, Meta will report concurrently with Alphabet & we think investors will focus on revenue growth differentials & relative margin performance," Post wrote in an Oct. 21 note to clients. Ahead of Microsoft's results, analysts are watching to see if the company can build on its strong report from the previous quarter and show momentum in its Azure business and growth in PC shipments. For all three, OpenAI remains a competitive force in areas such as advertising, search and social media, which several analysts acknowledge as a potential risk to upside moving forward. Shares of Meta and Microsoft have each gained more than 28% year to date, while Alphabet stock is up roughly 41% this year. For Meta, it's all about AI spending and ad growth Bank of America: Buy rating, $900 price target "Ad checks have been constructive, and another quarter of strong ad growth & guide could help reinforce confidence in the durability of Meta's AI ad engine," analyst Justin Post said in an Oct. 21 note. "AI roadmap for 2026 key for stock sentiment, and we think Meta can build optimism on both potential LLM innovation and products (video creative tools for users to compete with OpenAI?) and AI benefits to ad revs. (a fully automated ad platform). At ~$732, stock valued at 23x 2026 EPS (vs historical avg. of 21x) or 19x excl. RL losses, which we see as attractive given AI assets & early stage of AI monetization opportunity." Deutsche Bank: Buy rating, $930 price target "Positioning for Meta heading into earnings has been soft, trading down 5% since 2Q, results, underperforming the market by 12% with the S & P 500 up 6%. With that backdrop, we tend to favor the stock into the print given the favorable set-up, alongside very strong data and ad checks," analyst Benjamin Black wrote in an Oct. 21 note. "Near-term trends and checks suggest a positive top-line revision cycle this print, but expense concerns alongside more structural GenAI progress issues appear to be currently weighing on valuation. If management is able to counter either of these overhangs, we would expect a positive valuation multiple revision to accompany the positive top-line momentum." Truist: Buy rating, lifted price target by $20 to $900 "We remain constructive on META into earnings and expect results to be in line / slightly ahead of our +22% Y/Y revenue growth est. (high-end of guidance). Results should reflect strong user engagement and improving monetization from better ranking and recommendation," analyst Youssef Squali wrote in an Oct. 24 note. "It remains one of our favorite names, driven by AI improvements unlocking better ranking and recommendation models, which is helping improve targeting and ad efficiency, and drive spend on the platform. Higher monetization of Threads and WhatsApp should help sustain growth, and we see materially higher contribution from AR/VR products with strength from the Ray-Ban (EssilorLuxottica, ESLOY, NR) initiative." Morgan Stanley: Overweight rating, $850 price target "We see META delivering better than expected ad results and guide as 1) Ad conversations remain among the most positive in the space and we think accelerating engagement growth and improving ad targeting/performance are set to drive continued outsized ad dollar growth and 2) The runway for further GPU enabled machine learning (ML) improvements seems long (Andromeda ML ad retrieval algorithm not yet rolled to Instagram, GEM ad ranking model still not served to all surfaces across META's family of apps, including Instagram and parts of Facebook)," analyst Brian Nowak wrote in an Oct. 19 note. Analysts eye wins in Alphabet's AI, cloud businesses Bernstein: Market perform rating, lifted price target by $50 to $260 "Post 2Q print, regulatory headwinds cleared the worst case off the table, the company's shipping cadence of AI tools and features ramped noticeably highlighted by Gemini's run to the top of the app store thanks to Nano Banana, and we continue to see solid progress within GCP led by increased Anthropic consumption and a strong portfolio of AI logo wins," Mark Shmulik wrote in a Oct. 22 note to clients. "Is Google an AI winner now? Not so fast, OpenAI is still there, and they aren't the only ones going after the AI chatbot market and yet to launch an ad product. But Google is a much easier stock to own today than 3 months ago and we're encouraged by the progress we've seen. We expect this progress to continue this quarter highlighted by re-acceleration in the cloud business." Morgan Stanley: Overweight rating, $270 price target "We see Search revisions driving EPS upside and Google Cloud results (and its backlog) driving narrative and multiple with GOOGL being a GenAI driver and winner," Nowak wrote in an Oct. 19 note. "We also believe the launch of Gemini 3.0 in 4Q (and new capabilities around Veo, Nana Banana, and Agentic Search across categories like e-commerce, travel, and grocery) is likely to matter to investor confidence in GOOGL's AI positioning and the multiple investors are willing to place on the asset heading into '26." Bank of America: Buy rating, $280 price target "We expect another quarter of strong search results ( & stable paid click growth) and, while macro driven, could further alleviate AI disruption risk & aid multiple expansion," Post said in an Oct. 20 note. "Also, expect management to highlight recent Gemini usage momentum. On Cloud side, recent deals could aid backlog growth & we remain constructive on the segment's increasing value contribution for stock." Microsoft results hinge on AI cloud monetization Bank of America: Buy rating, $640 price target "We are bullish on upward revisions to Microsoft's CapEx, which would likely be a catalyst for the stock. We see a couple of other potential catalysts, namely 1) upward revisions to the flat margin outlook as we move through FY26 and 2) accelerating commercial office growth, from 14%, driven by ongoing E3/E5 and copilot strength as we move through FY26. Maintain Buy, $640 PO; a top pick. We believe that Microsoft is well positioned to participate in the AI cycle in both the application and infrastructure markets," analyst Brad Sills said in an Oct. 20 note to clients. Wolfe Research: Outperform, $675 price target "We see upside to our previously modeled ~$150B Azure AI revenue (FY26-28), with our view that the new contract spans a similar window relating to 2032 exclusivity. Together, and most importantly, this open marriage extends MSFT's monetization horizon with OpenAI, hedges against future model commoditization, and reinforce its leadership position across both AI infrastructure and model innovation," analyst Alex Zukin wrote in a Tuesday note, referring to Microsoft's and OpenAI's new agreement announced on Tuesday. UBS: Buy rating, $650 price target "In our view, the risk/reward on near-term Azure growth skews positive ... the tone from enterprise customers and partners has improved again, with large Azure partners citing accelerating growth trends," analyst Karl Keirstead wrote in a Oct. 21 note. "On the AI/GPU front, demand trends from OpenAI in particular appear to be strong and Microsoft is standing up incremental AI infra capacity (note the Fairwater go-live)." Deutsche Bank: Buy rating, $630 price target "As for the quarter itself, we think high-30s @cc Azure growth is a reasonable bogey, weighing our checks pointing toward sustained momentum in Azure consumption + commits and guidance for an increasing mix of more immediate revenue generating CapEx (i.e., servers & networking) vs. ongoing supply constraints, particularly for AI services," analyst Brad Zelnick wrote in an Oct. 23 note to clients. "We also see opportunity for outperformance in Windows from upgrade cycle tailwinds and more resilient PC shipments, Search and LinkedIn from positive trends in digital ad spending, and opportunity for share gains in Dynamics. Leverage to top-line upside along with headcount growth that has slowed to flat y/y and AI savings also bode well for y/y operating margin expansion and EPS upside."
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Microsoft
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https://www.cnbc.com/video/2025/10/29/microsoft-hit-with-azure-365-outage-hours-ahead-of-earnings-report.html?&qsearchterm=Microsoft
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Microsoft hit with Azure, 365 outage hours ahead of earnings report
| 2025-10-29T00:00:00
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In this video
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Microsoft hit with Azure, 365 outage hours ahead of earnings report
CNBC's MacKenzie Sigalos reports on Microsoft's Azure and 365 outage ahead of the tech company's quarterly earnings report.
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Microsoft
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https://www.cnbc.com/2025/10/28/jim-cramer-says-openais-corporate-overhaul-means-big-business-for-microsoft.html?&qsearchterm=Microsoft
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Jim Cramer says OpenAI's corporate overhaul means big business for Microsoft
| 2025-10-28T00:00:00
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Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. 1. Stocks rose on Tuesday with the S & P 500 touching another fresh intra-day record high, fueled by investor optimism after the latest round of earnings. Jim Cramer disagreed with a report in The Wall Street Journal arguing that the stock market has peaked. "The skepticism is generated, I think, from this data center versus real economy [problem]," Jim said. But if investors are selling on the idea that the market has topped, it's "a good opportunity for us to take advantage of" any decline by picking up shares of high-quality companies, Jim said. On that note, the Club purchased Corning this morning. Looking ahead, Boeing reports on Wednesday before the opening bell. 2. Microsoft , an early backer and key partner of OpenAI, said Tuesday that it supports the AI company's recapitalization plan , which simplifies the corporate structure. For its part, Microsoft's 27% stake in OpenAI's pro-profit arm is valued at about $135 billion. The plan extends Microsoft's intellectual property rights until 2032. OpenAI has also agreed to purchase $250 billion of services from Microsoft's Azure cloud unit. Microsoft will no longer have a first right of refusal to be OpenAI's provider. Jim said, "Azure's going to get more business." Microsoft earnings Wednesday evening. 3. The spin-off companies from Honeywell and DuPont — Solstice and Qnity, respectively — will both be in the S & P 500 after the splits. "It matters because since they will be included in the S & P 500, all those index funds that get these entitlements from the spins... they're not going to be forced to sell [the stocks]," said Jeff Marks, director of portfolio analysis for the Club. Spin-offs usually come with volatility, Marks noted, as investors decide whether to buy more shares of the parent company or the spun company. On a positive note, Goldman Sachs this week initiated coverage of Qnity with a buy rating and a price target of $110 per share. 4. Stocks covered in Tuesday's rapid fire at the end of the video were: UnitedHealth , United Parcel Service , PayPal , D.R. Horton , and Carrier Global . (Jim Cramer's Charitable Trust is long AMZN, BA, DD, GLW, HON, MSFT. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Microsoft
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https://www.cnbc.com/video/2025/10/29/microsoft-is-set-to-report-earnings-heres-what-to-know.html?&qsearchterm=Microsoft
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Microsoft is set to report earnings. Here's what to know
| 2025-10-29T00:00:00
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Microsoft
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https://www.cnbc.com/2025/10/28/open-ai-for-profit-microsoft.html?&qsearchterm=Microsoft
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OpenAI completes restructure, solidifying Microsoft as a major shareholder
| 2025-10-28T00:00:00
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OpenAI on Tuesday announced it has completed its recapitalization, cementing its structure as a nonprofit with a controlling stake in its for-profit business.
The artificial intelligence startup said its nonprofit is now called the OpenAI Foundation, and it holds an equity stake worth about $130 billion in its for-profit arm. OpenAI said its for-profit arm is now a public benefit corporation called OpenAI Group PBC.
Under the new structure, the OpenAI Foundation will hold a 26% stake in the for-profit, with 47% held by current and former employees and investors.
Microsoft , which has invested more than $13 billion in OpenAI and backed the company as early as 2019, said it supports OpenAI's recapitalization and now holds an investment in the PBC that is valued at $135 billion, or roughly 27% of the company on an as-converted diluted basis.
The company said it previously held a 32.5% stake in the for-profit on an as-converted basis, excluding OpenAI's recent funding rounds.
Microsoft shares closed up 1.98% on Tuesday.
"The more OpenAI succeeds as a company, the more the non-profit's equity stake will be worth, which the non-profit will use to fund its philanthropic work," OpenAI said in a blog post.
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Microsoft
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https://www.cnbc.com/2025/10/28/bitcoin-miner-cleanspark-crypto-mining-energy-power-ai-data-center.html?&qsearchterm=Microsoft
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Why bitcoin miner CleanSpark beat Microsoft for Wyoming AI data center deal, and what it means for crypto mining's future
| 2025-10-28T00:00:00
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CleanSpark , a Las Vegas based bitcoin miner, is moving into artificial intelligence, beginning to develop AI data centers alongside its crypto-mining business. The company's CEO laid out details of the recently announced strategy on CNBC's "Crypto World" this week, and why it's likely to become core to the business models of more crypto mining companies.
One key example of why bitcoin miners can win in the booming data center market: CleanSpark recently won a 100-megawatt site in Cheyenne, Wyoming, and beat out the tech giant Microsoft for the contract, according to its CEO.
How did a company with a market cap under $6 billion best a $4 trillion company?
Speed to market.
"We were able to scale up and deploy 100 megawatt bitcoin mining facility in about six months, where to build a proper AI data center is going to take three to six years," CleanSpark CEO Matt Schultz said on CNBC. "Certainly, Cheyenne didn't select CleanSpark because we had a stronger balance sheet than Microsoft," he added.
The shift comes as competition for power intensifies, and in a sense, brings CleanSpark full circle, with Schultz noting that it started as an energy company before shifting to bitcoin mining five years ago and becoming one of the largest mining operations.
CleanSpark operates about 1.03 gigawatts of energized facilities and has another 1.7 gigawatts in its development pipeline. Schultz said the plan is to use bitcoin mining to rapidly build out and scale the infrastructure, or "monetizing megawatts" as he referred to it, and then where data centers are already established, identify areas where it makes more sense to convert those to high performance compute and AI. Atlanta is one area he cited as a a prime example of an AI data center hotspot, second only to Northern Virginia on the East Coast.
"Bitcoin miners are uniquely positioned in that we have the ability to build out and energize data centers very rapidly," Schultz said. "Where we're seeing constraints is on access to power," he added.
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Microsoft
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https://www.cnbc.com/2025/10/27/guggenheim-upgrades-microsoft-citing-ai-monetization-opportunity-in-office.html?&qsearchterm=Microsoft
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Guggenheim upgrades Microsoft, citing AI monetization opportunity in Office
| 2025-10-27T00:00:00
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Guggenheim sees plenty of reasons ahead to be bullish on Microsoft . The investment bank upgraded shares of the tech titan and "Magnificent Seven" stock to a buy rating from neutral. Analyst John DiFucci also instated a price target of $586 per share. Shares of Microsoft have added 24% this year. DiFucci's new target offers an upside of 12% from the stock's Friday closing price of $523.61. MSFT YTD mountain MSFT YTD chart DiFucci warned that Microsoft's valuation is not cheap at its current levels, and may never trade at a level considered to be cheap. But he justified this by citing the company's strong business, adding that "boring is beautiful" when it comes to Windows. "It's seen as a relatively low-risk stock, which we think is rooted in the superb management of two near monopolies coupled with a visionary leader that has made a difference," DiFucci wrote. "The summary here is that the highly profitable Windows business is likely grossly underestimated going forward, which should help cushion any bottom-line pressure from increased lower margin Azure business." The analyst pointed to Azure, Microsoft's cloud computing platform, as an obvious artificial intelligence beneficiary. He specifically applauded the recurring nature of its consumption model — which he believes acts similarly to a subscription service — as a revenue growth driver going forward. But DiFucci sees Microsoft 365, the company's bundle of productivity software, as a less obvious AI beneficiary. "We believe Microsoft will be a unique applications vendor that can directly monetize AI by charging more on top on its monopoly position in Office," DiFucci wrote. "While we disagreed with the overly optimistic benefits anticipated for Copilot by many in the investment community soon after its launch, we always believed M365 would become a material opportunity to add incremental revenue and profit on top of Microsoft's stranglehold on the Productivity Suite market." The analyst added that Microsoft's "margin-rich businesses," such as Windows and Microsoft 365, should continue to help the company hedge against any headwinds in the current investment cycle. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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Microsoft
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https://www.cnbc.com/video/2025/10/28/microsoft-sees-10x-return-on-openai-stake-after-restructure.html?&qsearchterm=Microsoft
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Microsoft sees 10x return on OpenAI stake after restructure
| 2025-10-28T00:00:00
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Microsoft sees 10x return on OpenAI stake after restructure
CNBC’s MacKenzie Sigalos reports that Microsoft’s investment in OpenAI is now valued at $135 billion — a tenfold increase — following a corporate restructure that hands control to the nonprofit OpenAI Foundation and redefines the terms of their partnership.
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Amazon
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https://www.cnbc.com/2025/10/29/amazon-opens-11-billion-ai-data-center-project-rainier-in-indiana.html?&qsearchterm=Amazon
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Amazon opens $11 billion AI data center in rural Indiana as rivals race to break ground
| 2025-10-29T00:00:00
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NEW CARLISLE, Indiana — A year ago, it was farmland. Now, the 1,200-acre site near Lake Michigan is home to one of the largest operational AI data centers in the world. It's called Project Rainier, and it's the spot where Amazon is training frontier artificial intelligence models entirely on its own chips. Amazon and its competitors have pledged more than $1 trillion towards AI data center projects that are so ambitious, skeptics wonder if there's enough money, energy and community support to get them off the ground. OpenAI has Stargate — its name for a slate of mammoth AI data centers that it plans to develop. Rainier is Amazon's $11 billion answer. And it's not a concept, but a cluster that's already online. The complex was built exclusively to train and run models from Anthropic, the AI startup behind Claude, and one of Amazon's largest cloud customers and AI partners. "This is not some future project that we've talked about that maybe comes alive," Matt Garman, CEO of Amazon Web Services, told CNBC in an interview at Amazon's Seattle headquarters. "This is running and training their models today."
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Tech's megacaps are all racing to build supercomputing sites to meet an expected explosion in demand. Meta is planning a 2-gigawatt Hyperion site in Louisiana, while Google parent Alphabet just broke ground in West Memphis, Arkansas, across the Mississippi River from Elon Musk's Colossus data center for his startup xAI. In the span of a month, OpenAI committed to 33 gigawatts of new compute, a buildout CEO Sam Altman says represents $1.4 trillion in upcoming obligations, with partners including Nvidia , Advanced Micro Devices , Broadcom and Oracle. Amazon is already delivering, thanks to decades of experience in large-scale logistics. From massive fulfillment centers and logistics hubs to AWS data centers and its HQ2 project, Amazon has deep and close relationships with state and local officials and a playbook that's now being used to get AI infrastructure set up in record time. "These deals all sound great on paper," said Mike Krieger, chief product officer at Anthropic, which has raised billions of dollars from Amazon. "But they only materialize when they're actually racked and loaded and usable by the customer. And Amazon is incredible at that."
watch now
The public unveiling of Rainier comes a day ahead of Amazon's third-quarter earnings report. Investors will be listening closely for commentary on capital expenditures, but they also want to know how quickly capex projects will convert into revenue, and eventually, profit. On Tuesday, Amazon announced 14,000 layoffs as part of a broader push to flatten management and reallocate resources to priority areas like AI and the company's Trainium chips. The genesis of the Rainier complex dates back to the spring of 2023. Roughly six months after ChatGPT launched, Amazon started scouting land in rural Indiana, working with American Electric Power through its Indiana Michigan Power subsidiary. A year later, it signed an $11 billion agreement with Indiana, the largest capital investment in the state's history. Construction began in September of last year and, as of this month, seven buildings are already online, with two more campuses underway. The full site will eventually span 30 buildings and draw more than 2.2 gigawatts of electricity, enough to power more than 1.6 million homes.
Indiana Michigan Power is in the final stages of acquiring a natural gas plant in Oregon, Ohio, that would make up 15% of the utility’s power by the end of 2026 and help power the AWS AI data center in New Carlisle, Indiana. Indiana Michigan Power
Josh Sallabedra, who's spent 14 years building data centers for Amazon, is now the Indiana site lead. He relocated from the West Coast last year to oversee the project. Sallabedra brought on four general contractors to accelerate the timeline and says he's never seen the company move this fast. "That's the customer demand right now," Sallabedra told CNBC. "As we saw AI and machine learning coming, we changed to a different building type." While some tech giants are throwing up temporary structures to move faster — Meta is building under giant tents in Ohio — Amazon took a more deliberate path. Midway through construction, it updated its facility design to speed up deployment. "It's not just fast," said Garman. "It is secure and reliable AWS infrastructure … an industrial, enterprise-scale data center." Or, as Garman described it, "Cornfields to data centers, almost overnight."
'Difficult to keep losing farmland'
The site still feels raw. Workers in safety vests move between trailers as steel beams rise in the distance. Convoys of pickup trucks kick up dust past unfinished warehouse shells. From the security gate, a line of streetlamps stretches toward the data center core, where lifts haul crates packed with chips. This quiet stretch of rural Indiana, dotted with grain silos, transmission lines, and the occasional barn, has become a magnet for ambitious infrastructure projects. General Motors and Samsung are jointly building a $3.5 billion electric vehicle battery plant next door. At peak, more than 4,000 construction workers have been showing up each day in a town with a population of just 1,900.
AWS site lead Josh Sallabedra with MacKenzie Sigalos Katie Tarasov
Locals don't necessarily love the trend. "It's just difficult to keep losing farmland," said Marcy Kauffman, president of New Carlisle's town council. "And this took a lot of farmland." Dan Caruso, a longtime resident of the area, worries that this is just the beginning. "My friends tried to tell me, 'You can't let them come in, because once they get their toe in there, they'll want more,'" Caruso said. "And that's exactly what happened." Indiana Michigan Power says peak power demand will more than double by the end of the decade, raising questions about household utility bills. One report found that monthly electricity bills in neighborhoods near these new types of sites are 267% higher than five years ago. And expansion isn't slowing anytime soon. "We're rapidly adding new capacity all over the place," Garman said. "I don't know that we'll be done ever. We're going to continue to build as our customers need more capacity." Rainier's seven data center buildings are packed wall-to-wall with Trainium 2, Amazon's custom-built chips. Nvidia's market-leading graphics processing units are nowhere to be found. Amazon claims this is the largest known deployment of non-Nvidia compute anywhere in the world. "They're already running about 500,000 chips in Indiana today," Garman said. "And in fact, it's going so well that they've actually doubled down on that order." Amazon expects the number to reach a million by the end of the year.
AWS showed CNBC its Trainium 2 chips that fill its AI data center in New Carlisle, Indiana, on October 8, 2025. Erin Black
Trainium 3, developed in collaboration with Anthropic, is set to launch in the next few months. It's the latest example of the tightening bond between the two companies. Anthropic's primary infrastructure runs on AWS, and it's one of the first major AI labs to train models on Amazon's custom silicon. Amazon has invested $8 billion in the startup as part of its broader AI strategy. While Trainium can't match Nvidia's GPUs in raw performance, AWS says its technology offers greater density and efficiency, packing more chips into each data center to deliver higher aggregate compute while reducing power and cooling costs. Amazon and Anthopic have co-designed silicon based on real-world training demands. Garman and Krieger both told CNBC that Anthropic provided direct input to speed up training, cut latency and improve energy efficiency. With Trainium 3, one major goal is to better support frontier models. "It gives better performance, it gives better latency characteristics, it gets better power consumption per flop," Garman said. "That will be deployed inside of Indiana. It'll be deployed in many of our other data centers all around the world." Prasad Kalyanaraman, vice president of infrastructure services at AWS, said it's critical to be "able to control the stack all the way from the lower layers of the infrastructure" in order to "build the right set of capabilities that these model providers want."
CNBC's MacKenzie Sigalos spoke to AWS CEO Matt Garman about Project Rainier in Seattle, Washington, on October 17, 2025. Michael Crowe
Anthropic is moving at a breakneck pace, and burning mounds of cash in the process, as it races to keep up with OpenAI and others. The company's annual revenue run rate is nearing $7 billion. Its Claude chatbot powers more than 300,000 businesses, a 300-fold increase over the last two years. The number of large enterprise customers, each producing more than $100,000 in annual revenue, has jumped nearly sevenfold in just a year. Claude Code, Anthropic's new agentic coding assistant, generated $500 million in annualized revenue within its first two months. But Anthropic isn't counting exclusively on Amazon as it carves its future path. Last week, the company announced a partnership with Alphabet that gives Anthropic access to up to 1 million of Google's custom-designed Tensor Processing Units, or TPUs. The deal is worth tens of billions of dollars, Anthropic had already received funding from Google, and Krieger said the company needs all the processing power it can get. "There is such demand for our models," said Krieger, "that I think the only way we would have been able to serve as much as we've been able to serve so far this year is this multi-chip strategy." Garman is well aware of the multi-cloud and multi-chip efforts, and said Amazon has no plans to do anything drastic, like bidding to buy Anthropic. "We love the partnership as it is," he said. — CNBC's Katie Tarasov and Erin Black contributed to this report. WATCH: CNBC's interview with AWS CEO Matt Garman
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Amazon
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https://www.cnbc.com/2025/10/28/jim-cramer-amazon-keeper.html?&qsearchterm=Amazon
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Why Jim Cramer thinks Amazon is a keeper
| 2025-10-28T00:00:00
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CNBC's Jim Cramer on Tuesday explained why he's sticking with Amazon for the CNBC Investing Club's Charitable Trust, offering optimistic commentary about tech giant's future and commending its upcoming round of layoffs.
"If Amazon can find a way to make its shareholders more money, it's going to take it," he said. "As a shareholder, I like that. I like that Amazon's never done trying to make you money."
Amazon said on Monday it would fire about 14,000 corporate employees. The layoffs are expected to be the largest corporate job cuts in the company's history, CNBC reported. The move comes as part of the company's multiyear effort to cut costs.
Reuters reported that the company is planning for more layoffs, saying Amazon could cut as many as 30,000 workers.
In a blog post, Amazon said the layoffs were driven by advancements in artificial intelligence as well as an attempt to reduce bureaucracy.
"This generation of AI is the most transformative technology we've seen since the Internet, and it's enabling companies to innovate much faster than ever before (in existing market segments and altogether new ones)," Beth Galetti, an Amazon executive, wrote. "We're convinced that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and business."
Years ago, Cramer criticized Amazon's Covid hiring spree, saying he felt at the time that the company didn't do enough to weed out surplus workers after the pandemic was over. But since then, he said the company has taken the time to properly determine how to make its workforce more productive — adding that he believes AI is now ready to help big companies "figure out who can do more with less."
Cramer conceded that Amazon has failed to outperform the S&P 500 over the past several years.
But he emphasized that he holds a longer-term view when it comes to owning stocks, saying he thinks investors should hold on to shares if they like a company and think it is reliable and trustworthy. Cramer said he finds Amazon to be one of the more valuable services he uses, adding that he believes the stock price "will eventually catch up with my judgment."
Cramer lauded Amazon's ability to persevere through the pandemic, improve sales in Europe and build up its web services division. He predicted AWS's growth rate will pick up when Amazon posts earnings results on Thursday.
Cramer also said he is determined not to repeat a recent misstep — selling Amazon's Big Tech peer Alphabet for the charitable trust due to concerns about the fallout from losing the government's antitrust case.
"We sold Alphabet at the wrong time. We left 100 points on the table. My worries, they were misplaced," Cramer said. "The Justice Department was no more able to hobble Google for anticompetitive practices than it was with Microsoft at the turn of the century."
Amazon did not immediately respond to request for comment.
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Amazon
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https://www.cnbc.com/2025/10/28/cramer-amazon-layoffs-will-help-but-growth-in-this-one-area-is-whats-needed.html?&qsearchterm=Amazon
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Cramer: Amazon layoffs will help costs, but growth in this one area is what's needed most
| 2025-10-28T00:00:00
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Amazon 's latest round of layoffs may help the bottom line, but CNBC's Jim Cramer encouraged investors to keep their eyes on what really matters. That would be Amazon Web Services. The e-commerce and cloud giant said Tuesday it will cut 14,000 corporate jobs, or about 4% of the total corporate and tech workforce, to invest in other higher-priority areas such as generative AI. The company employs roughly 1.5 million people around the world. Most of those positions are warehouse jobs. "The reductions we're sharing today are a continuation of this work to get even stronger by further reducing bureaucracy, removing layers, and shifting resources to ensure we're investing in our biggest bets," Beth Galetti, senior vice president of people experience and technology at Amazon, wrote in a blog post. "The layoffs are good, but it doesn't matter [for the upcoming quarter] at all," Jim said Monday on " Mad Money ," previewing Amazon's third-quarter earnings, which are set to release after Thursday's close. "The stock's now being graded on whether Amazon Web Services is going to grow the same way as Azure. That's ridiculous. It's much bigger than Azure," Jim reiterated Tuesday on " Squawk on the Street ." AWS, which is the largest cloud, grew 18% in the second quarter, trailing behind 39% growth for Microsoft 's Azure, which is No. 2. ( Alphabet 's Google Cloud is third , with Oracle a distant fourth but growing.) Jim estimates Amazon's cloud unit will deliver 21% revenue growth in Q3, which could be enough to lift the stock and finally break out after months of lagging its tech peers. For years, the market has generally cheered layoff announcements, viewing them as a lift to earnings, but Amazon's announcement did not move the needle that much, with shares up just over 1.5%. Amazon has gained less than 4% in 2025, making it the worst by far of the "Magnificent Seven" stocks year to date. The S & P 500 has advanced nearly 17% this year. Zooming out, Amazon's stock performance looks even worse. Since Andy Jassy took over as CEO in July 2021, shares have gained nearly 30%. During that same time frame, the S & P 500 advanced roughly double that, and Microsoft surged 95%. AMZN 5Y mountain AMZN stock 5-year performance. However, Jim said the company's underperformance under Jassy is neither a reason to sell the stock nor a ding on the CEO's leadership. Jassy, who took over from Amazon founder Jeff Bezos , has been on a campaign to cut costs across the company over the past few years. Amazon laid off 27,000 employees between 2022 and 2023, and job reductions have continued since then to create a leaner and more efficient business. At the same time, the company has also been ramping up AI investments — just as all the other hyperscalers have been doing. "I am with Jassy," Jim said, adding he's sticking with Amazon even though it's been a megacap laggard. He noted he's not going to make the same mistake of selling Alphabet. The Club completed Alphabet exit back in March after a stretch of underperformance due to government antitrust headwinds and the threat of AI to Google search. "I'm furious I sold it," Jim said, looking back at how Alphabet has soared since. "I did it to Alphabet. I'm not going to wreck this one," he said, referring to Amazon. (See here for a full list of the stocks at Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Amazon
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https://www.cnbc.com/video/2025/10/29/amazons-biggest-ai-data-center-comes-online-powering-anthropic.html?&qsearchterm=Amazon
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Amazon's biggest AI data center comes online, powering Anthropic
| 2025-10-29T00:00:00
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Amazon's biggest AI data center is now operational in Indiana, powering Anthropic without Nvidia
Amazon’s biggest AI data center is now operational in Indiana, with half a million AWS Trainium2 chips entirely devoted to powering OpenAI rival Anthropic. Just over a year ago, it was nothing but cornfields. Once complete, 30 buildings will consume 2.2 gigawatts of power there. CNBC talked to AWS CEO Matt Garman about the project, and went to New Carlisle, Indiana, to ask locals about the impact — and for a first ever on-camera tour inside the largest cluster of non-Nvidia chips in the world.
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Amazon
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https://www.cnbc.com/video/2025/10/29/amazon-web-services-ceo-matt-garman-exclusive-interview.html?&qsearchterm=Amazon
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Amazon Web Services CEO Matt Garman — exclusive interview
| 2025-10-29T00:00:00
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AWS CEO Matt Garman on Amazon's massive new AI data center for Anthropic, Trainium chips and more
Amazon’s largest AI data center is now operational in New Carlisle, Indiana, with half a million AWS Trainium 2 chips entirely devoted to powering OpenAI rival Anthropic. Just over a year ago, the site was nothing but cornfields. Once complete, 30 buildings will consume 2.2 gigawatts of power there. CNBC's MacKenzie Sigalos spoke with AWS CEO Matt Garman about the project, the partnership with Anthropic and AWS's Trainium chips.
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Amazon
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https://www.cnbc.com/2025/10/28/amazon-layoffs-corporate-workers-ai.html?&qsearchterm=Amazon
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Amazon laying off about 14,000 corporate workers as it invests more in AI
| 2025-10-28T00:00:00
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The layoffs are expected to ultimately be the largest corporate job cuts in Amazon's history, CNBC previously reported. The cuts could affect as many as 30,000 employees, according to Reuters , which cited sources familiar with the matter.
"This generation of AI is the most transformative technology we've seen since the Internet, and it's enabling companies to innovate much faster than ever before (in existing market segments and altogether new ones)," Beth Galetti, senior vice president of people experience and technology at Amazon, wrote. "We're convinced that we need to be organized more leanly, with fewer layers and more ownership, to move as quickly as possible for our customers and businesses."
In a blog post , the company wrote that the layoffs are being carried out to help make the company leaner and less bureaucratic, while it looks to invest in "our biggest bets" including generative artificial intelligence .
Amazon said Tuesday that it will lay off about 14,000 corporate employees, marking the latest cuts in the company's multiyear effort to rein in costs.
Employees in Amazon's cloud, grocery, video games, human resources, sustainability and communications, ads and devices units were informed of cuts early Tuesday morning, although the layoffs are expected to touch nearly every area of the company.
Amazon is the nation's second-largest private employer, with more than 1.54 million staffers globally as of the end of the second quarter. That figure is primarily made up of its warehouse workforce.
It has roughly 350,000 corporate and tech employees, meaning the 14,000 job cuts represent about 4% of that segment of its workforce.
The company indicated that it will continue to lay off employees in the coming year, even as it plans to keep hiring in "key strategic areas."
Amazon's job cuts come as companies across industries including tech, banking, auto and retail have pointed to the rise of generative AI as a force that's likely to or already changing the size of their workforces.
Several companies have indicated they can hire fewer employees and still grow their revenues, partly as a result of relying more on AI, which they believe will translate to greater efficiencies and productivity.
Amazon CEO Andy Jassy said in June that the company's workforce would shrink further as a result of it embracing generative AI, telling staffers that it "will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs."
Meta last week laid off about 600 staffers in its AI unit in an effort to reduce layers and operate more nimbly. Microsoft has cut more than 15,000 staffers this year as CEO Satya Nadella told staffers they must "reimagine our mission for a new era" of AI. Google made cuts to a number of units earlier this year and taken steps to reduce bureaucracy by eliminating 35% of managers overseeing small teams.
Jassy, who took the helm at Amazon from Jeff Bezos in 2021, has been on a campaign to slash costs across the company over the past few years. Amazon laid off 27,000 employees between 2022 and 2023, and job reductions have continued since then, though at a smaller scale.
Amazon is slimming down its workforce after it went on a hiring spree during the Covid-19 pandemic, partly to meet a surge in demand for e-commerce and cloud computing services.
The company has since moved to shutter some of its unprofitable initiatives, while committing to invest about $118 billion this year in AI development and cloud infrastructure. Amazon faces growing pressure to show its cloud and AI businesses aren't lagging behind rivals.
At the same time, Jassy been trying to overhaul Amazon's corporate culture and operate like the "world's largest startup" as it looks to stay competitive. Last September, as part of a mandate requiring corporate employees to work in the office five days a week, he set a goal to flatten organizations across Amazon by the first quarter of this year.
Earlier this month, Amazon said it planned to hire 250,000 workers for full-time, part-time and temporary roles in its fulfillment and transportation units to meet demand for the holiday shopping season.
Amazon is slated to report its third-quarter results on Thursday after the market closes.
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Amazon
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https://www.cnbc.com/2025/10/28/ubs-lifts-amazon-price-target-ahead-of-e-commerce-giants-earnings.html?&qsearchterm=Amazon
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UBS lifts Amazon price target ahead of e-commerce giant’s earnings
| 2025-10-28T00:00:00
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UBS predicts another strong quarter for Amazon . The bank maintained its buy rating on the e-commerce giant and lifted its 12-month price target to $279 per share from $271. The new forecast implies upside of 23% from Monday's close. The target change comes ahead of Amazon's third-quarter report. Analyst Stephen Ju made made several revisions to his Amazon estimates ahead of the release, including a modest increase to its e-commerce segment due to benefits from higher third-party seller inventory levels. The analyst sees this accompanied by likely margin expansion due to improving unit economics. He also cited the potential for high-margin revenue from Prime Video with ads, which he said should become a more meaningful contributor over time. AMZN YTD mountain AMZN YTD chart Ju also believes that Amazon Web Services growth could accelerate as headwinds such as capacity constraints ease. The company's gross merchandise value and market share could also increase as Amazon expands its service levels by increasing the availability of its one- and same-day Prime delivery, Ju added. "Overall, we continue to see the potential for upside across Amazon's business segments including e-commerce, cloud, advertising, and Kuiper / low earth orbit satellites," the analyst wrote. "And while we get greater visibility into when those benefits could arrive, particularly on Kuiper, the overall uplift has yet to materialize." Shares of Amazon have added 3% this year. Ju said that Amazon's relative underperformance this year has opened up a good buying opportunity. "In our view, with AMZN shares otherwise having languished at +4% YTD (relative to its Internet megacap peers) and with much of the benefits of its investments / CapEx across all of e-commerce, AWS, content / advertising, and lastly Kuiper still to be realized, it remains a coiled spring," he wrote. "Therefore as revenue begins to show up more meaningfully, the subsequent upward revisions to operating profit and FCF dollars should arrive at a greater magnitude vs its peers." Most analysts are bullish Amazon. LSEG data shows that 71 of the 72 who cover the stock rate it a buy or strong buy. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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Amazon
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https://www.cnbc.com/video/2025/10/29/amazons-11b-data-center-in-indiana-goes-live.html?&qsearchterm=Amazon
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Amazon's $11B data center in Indiana goes live
| 2025-10-29T00:00:00
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Amazon
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https://www.cnbc.com/video/2025/10/29/amazons-11b-data-center-goes-live-heres-an-inside-look.html?&qsearchterm=Amazon
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Amazon's $11B data center goes live: Here's an inside look
| 2025-10-29T00:00:00
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In this video
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Amazon's $11B data center goes live: Here's an inside look
CNBC’s MacKenzie Sigalos joins 'Squawk Box' with an exclusive inside look at Amazon's $11 billion AI data center in Indiana.
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Amazon
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https://www.cnbc.com/2025/10/28/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=Amazon
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Amazon layoffs, Qualcomm's AI chips, Airbnb cracks down on Halloween and more in Morning Squawk
| 2025-10-28T00:00:00
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Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025. Smith Collection | Gado | Archive Photos | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Amazon's cull
Amazon is laying off 14,000 workers in its latest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company's history, CNBC's Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a person familiar with the matter. Beth Galetti, Amazon's senior vice president of people experience and technology, wrote in a blog post that the company needs to be "organized more leanly" and have fewer layers. Amazon is the second-largest private employer in the U.S. with upwards of 1.5 million employees. The 14,000 cuts announced this morning represent about 4% of its corporate and tech workforce. Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.
2. Chips on the table
Budrul Chukrut | SOPA Images | Lightrocket | Getty Images
Qualcomm announced yesterday that it would release artificial intelligence accelerator chips. The initiative makes the company a new competitor for Nvidia and AMD , underscoring the growing market for equipment tied to AI data centers. Here's what to know: Qualcomm said that its AI200 and AI250 chips will debut in 2026 and 2027, respectively. The data center chips are based on AI parts already in Qualcomm's smartphone chips.
So far, Nvidia has dominated the AI chip industry, accounting for more than 90% of the graphics processing units, or GPUs, in the market.
Qualcomm CEO Cristiano Amon told CNBC's "Squawk Box" this morning that energy efficiency and lower operating costs differentiate his company's offerings.
Shares of Qualcomm surged 11% in yesterday's session, making it the stock's best day since April.
Qualcomm's gain helped drive the broader market to all-time highs yesterday, with the S&P 500 Follow live markets updates here.
3. Running a list
U.S. Treasury Secretary Scott Bessent speaks to reporters as U.S. President Donald Trump stands next to him aboard Air Force One en route to Tokyo, Japan, for the second stop on his Asia tour, Oct. 27, 2025. Evelyn Hockstein | Reuters
Treasury Secretary Scott Bessent confirmed there are five finalists left in the running to succeed Federal Reserve Chair Jerome Powell. On the list: Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock's Rick Rieder. That's the same group of candidates CNBC reported earlier this month. President Donald Trump said he will likely announce his pick by the end of 2025. Meanwhile, the Federal Open Market Committee will kick off its two-day meeting today, with all eyes on its interest rate decision due tomorrow.
4. iBuyer
Roomba vacuums by iRobot are displayed at Best Buy store on January 19, 2024 in San Rafael, California. Justin Sullivan | Getty Images
Shares of iRobot tumbled more than 33% yesterday after the company warned in a securities filling that its search for a buyer has reached an impasse. The Roomba maker said negotiations with its last remaining bidder fell through following a "lengthy period of exclusive negotiations" last week. iRobot has been trying to find a buyer for its business since March. The company has been in a rough spot since Amazon dropped its acquisition bid last year.
Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today.
5. Party crashers
Austin Andres and her son Quinn, 2, shop for pumpkins at Maple Acres Farm in Plymouth Meeting, Pa., Tuesday, Oct. 17, 2017. Matt Rourke | AP
If you're in the market for pumpkin carving materials or candy this Halloween season, you're likely in for some sticker shock. An analysis of retail pricing data shows these goods have seen jumps as big as 300% as tariffs raise costs for suppliers. Joe Ens, CEO of Pumpkin Masters parent Signature Brands, told CNBC he hopes shoppers will accept price increases to continue traditions like pumpkin decorating. The average consumer is expected to spend a record $114 tied to Halloween this year, according to the National Retail Federation. Meanwhile, Airbnb is hoping for a quiet Halloween weekend at its rental properties. The company said it will use anti-party technology to quell large gatherings held at bookings in the U.S. and Canada.
The Daily Dividend
In an exclusive interview with CNBC, Microsoft co-founder Bill Gates said climate change is "super important but has to be considered in terms of overall human welfare." In a letter published ahead of a U.N. climate summit next week, Gates wrote that too many resources are going toward the environment and that more money should go toward fighting poverty and disease.
watch now
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Broadcom
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https://www.cnbc.com/video/2025/10/27/power-check-broadcom-eli-lilly-and-intuitive-surgical.html?&qsearchterm=Broadcom
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Power Check: Broadcom, Eli Lilly and Intuitive Surgical
| 2025-10-27T00:00:00
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Power Check: Broadcom, Eli Lilly and Intuitive Surgical
Tom Hulick, Strategy Asset Managers CEO, joins 'Power Lunch' to discuss Hulick's investing take on three stocks: Broadcom, Eli Lilly and Intuitive Surgical.
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Broadcom
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https://www.cnbc.com/video/2025/10/28/nvidia-broadcom-and-amd-are-exceptionally-well-positioned-companies-right-now-says-bofas-arya.html?&qsearchterm=Broadcom
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Nvidia, Broadcom, and AMD are exceptionally well-positioned companies right now, says BofA's Arya
| 2025-10-28T00:00:00
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Nvidia, Broadcom, and AMD are exceptionally well-positioned companies right now, says BofA's Arya
Vivek Arya, semiconductor analyst at Bank of America Securities, joins 'Closing Bell Overtime' to discuss the rise in semiconductor stocks amid the AI hype, Nvidia's second GTC conference, and more.
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Walmart
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https://www.cnbc.com/2025/10/29/eli-lilly-walmart-to-offer-discounted-retail-option-for-zepbound.html?&qsearchterm=Walmart
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Eli Lilly, Walmart to offer first retail pickup option for discounted vials of weight loss drug Zepbound
| 2025-10-29T00:00:00
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Eli Lilly and Walmart on Wednesday said they have teamed up to expand access to the drugmaker's weight loss drug Zepbound, allowing U.S. patients to get vials of the blockbuster injection at direct-to-consumer prices through retail locations for the first time.
The announcement comes as Eli Lilly works to maintain its dominance over rival Novo Nordisk in the booming market for a class of obesity and diabetes drugs called GLP-1s. It also comes as the Trump administration pressures drugmakers to make it easier for Americans to access medicines with a push for them to use direct-to-consumer models that eliminate middlemen.
Starting in mid-November, cash-paying patients with a prescription can purchase single-dose vials of Zepbound at discounts of 50% or more off their list price through the retailer's locations or via home delivery. Walmart, which operates nearly 4,600 pharmacies across the U.S., will serve as the first in-store pickup pharmacy option for Zepbound vials through Eli Lilly's direct-to-consumer cash-pay platform, LillyDirect.
It is LillyDirect's first retail collaboration since it launched in January 2024, following partnerships with several telehealth companies. Eli Lilly did not provide an estimate of how much the Walmart offering will expand Zepbound's reach. But Walmart's nationwide footprint makes it the largest U.S. retailer, LillyDirect's General Manager Jennifer Mazur told CNBC in an interview.
Walmart is the fifth-largest pharmacy in the U.S., according to its total prescription dispensing revenue in 2024. The partnership could help Eli Lilly keep its competitive edge over Novo Nordisk as the Danish drugmaker works to expand access to its weight loss drug Wegovy through a deal with CVS and its pharmacy benefit manager, Caremark.
Single-dose vials of Zepbound will cost $349 per month for the starting dose, and $499 per month for all other doses. That price point is consistent across LillyDirect's home delivery or Walmart pickup options.
As to whether patients would choose pickup or delivery, Mazur said, "I think it's all about individual people, their lifestyle and how they choose to access healthcare."
"Our goal really is just to meet as many people where they are and give more choice, more convenience and continue to offer people price transparency," she continued.
Mazur said LillyDirect has seen "tremendous uptake" with home delivery, but noted consumers could prefer to go in person because they have an established relationship with a local pharmacist or find it more convenient to pick up prescriptions at their neighborhood pharmacy.
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Mastercard
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https://www.cnbc.com/video/2025/10/27/next-1-trillion-market-cap-company-mastercard-is-long-shot-jim-cramer.html?&qsearchterm=Mastercard
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Mastercard is slow and steady, long shot to hit $1 trillion market cap next: Cramer
| 2025-10-27T00:00:00
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Mastercard is slow and steady, long shot to hit $1 trillion market cap next: Cramer
CNBC's Jim Cramer breaks down the odds of which company may be the next to hit the $1 trillion market cap milestone.
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Netflix
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https://www.cnbc.com/video/2025/10/28/final-trades-netflix-vistra-paypal-and-the-qqq.html?&qsearchterm=Netflix
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Final Trades: Netflix, Vistra, Paypal and the QQQ
| 2025-10-28T00:00:00
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AbbVie
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https://www.cnbc.com/2025/10/28/healthy-returns-eli-lilly-merck-gilead-and-abbvie-earnings-preview.html?&qsearchterm=AbbVie
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Healthy Returns: What to expect from Eli Lilly, Merck, Gilead and AbbVie third-quarter earnings
| 2025-10-28T00:00:00
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The Eli Lilly & Co. logo at the company's Digital Health Innovation Hub facility in Singapore, on Thursday, Nov. 14, 2024.
A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions.
The pharmaceutical industry has kicked off third-quarter earnings, and we're here to give you a preview of the biggest names set to report this week.
It's been a tumultuous year for drugmakers. They have had to navigate the Trump administration's rapidly changing drug pricing policies, threats of pharmaceutical tariffs, pressure to ramp up U.S. manufacturing and Health and Human Services Secretary Robert F. Kennedy Jr.'s massive overhaul of federal health agencies, among other issues.
Top of mind for investors is any details on potential "most favored nation" drug pricing deals with President Donald Trump, following the administration's recent agreements with Pfizer, AstraZeneca and EMD Serono, the largest fertility drug manufacturer in the world, that aim to make their medicines easier for Americans to access. On top of political uncertainty, several companies are racing to offset the loss in revenue from products set to lose their exclusivity on the market.
Here's what to look out for from a few major pharmaceutical companies reporting this week:
Merck – Expect no "major surprises" this quarter for the company, according to an October note from JPMorgan analyst Chris Schott. He anticipates topline growth will come from sustained demand for immunotherapy Keytruda, along with Merck's animal health business, with increased contributions from new and recent drug launches. That includes Winrevair, which is used to treat a rare, deadly lung condition, and Capvaxive, a vaccine designed to protect adults from a bacteria known as pneumococcus that can cause serious illnesses and lung infection. But Schott said growth could be partially offset by trouble sluggish China sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S. Merck will report earnings on Thursday.
Expect no "major surprises" this quarter for the company, according to an October note from JPMorgan analyst Chris Schott. He anticipates topline growth will come from sustained demand for immunotherapy Keytruda, along with Merck's animal health business, with increased contributions from new and recent drug launches. That includes Winrevair, which is used to treat a rare, deadly lung condition, and Capvaxive, a vaccine designed to protect adults from a bacteria known as pneumococcus that can cause serious illnesses and lung infection. But Schott said growth could be partially offset by trouble sluggish China sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S. Merck will report earnings on Thursday. Eli Lilly Novo Nordisk CVS deal announced in May, CVS boosted access to Novo Nordisk's weight loss treatment Wegovy for patients on its drug plans and dropped Zepbound. Eli Lilly will also post earnings on Thursday.
deal announced in May, CVS boosted access to Novo Nordisk's weight loss treatment Wegovy for patients on its drug plans and dropped Zepbound. Eli Lilly will also post earnings on Thursday. Bristol Myers Squibb Alzheimer's disease psychosis. Schott said he expects that data, which could come by year-end, to dominate the near-term outlook for Bristol Myers Squibb. Alzheimer's psychosis could be a "multi-billion-dollar peak sales opportunity" for the drug, according to Schott. In a separate note, Scala said he expects Cobenfy sales to be up "modestly" in the third quarter. Bristol Myers Squibb will report earnings Thursday.
Alzheimer's disease psychosis. Schott said he expects that data, which could come by year-end, to dominate the near-term outlook for Bristol Myers Squibb. Alzheimer's psychosis could be a "multi-billion-dollar peak sales opportunity" for the drug, according to Schott. In a separate note, Scala said he expects Cobenfy sales to be up "modestly" in the third quarter. Bristol Myers Squibb will report earnings Thursday. Gilead – The company's core business could show improvement during the third quarter, driven by strength from its HIV business, Schott said in another October note. He expects continued growth for two HIV medications called Biktarvy and Descovy. Schott will be listening for updates around the launch of Gilead's twice-yearly HIV prevention injection, Yeztugo, which wrapped up its first quarter on the market. Schott said he believes Trump's most favored nation policy, which impacts pricing on the Medicaid market, will also be a focus of the earnings call. Gilead has a higher exposure to Medicaid as a percentage of global sales compared to its peers, but "we see this as being ultimately manageable" for the company since drugs on Medicaid are already offered at a discount to other U.S. channels, according to Schott. Gilead will also report earnings on Thursday.
The company's core business could show improvement during the third quarter, driven by strength from its HIV business, Schott said in another October note. He expects continued growth for two HIV medications called Biktarvy and Descovy. Schott will be listening for updates around the launch of Gilead's twice-yearly HIV prevention injection, Yeztugo, which wrapped up its first quarter on the market. Schott said he believes Trump's most favored nation policy, which impacts pricing on the Medicaid market, will also be a focus of the earnings call. Gilead has a higher exposure to Medicaid as a percentage of global sales compared to its peers, but "we see this as being ultimately manageable" for the company since drugs on Medicaid are already offered at a discount to other U.S. channels, according to Schott. Gilead will also report earnings on Thursday. AbbVie – In an October note, Scala said he expects a "typical, solid quarter" from the drugmaker, with improvements in its aesthetics business after weakness in recent quarters. Abbvie has seen continued strength in Skyrizi and Rinvoq, medicines used to treat various inflammatory and autoimmune conditions, according to an October note from Schott. He said it positions the company to beat Wall Street's expectations for the quarter and raise its full-year guidance. AbbVie will report earnings on Friday.
We'll be covering some of these names later this week and others in the weeks ahead, so stay tuned for our coverage.
Feel free to send any tips, suggestions, story ideas and data to Annika at a new email: [email protected].
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IBM
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https://www.cnbc.com/video/2025/10/29/watch-cnbcs-full-interview-with-ibm-vice-chair-and-former-nec-director-gary-cohn.html?&qsearchterm=IBM
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Watch CNBC's full interview with IBM vice chair and former NEC director Gary Cohn
| 2025-10-29T00:00:00
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Watch CNBC's full interview with IBM vice chair and former NEC director Gary Cohn
Gary Cohn, IBM vice chair and former NEC director, joins 'Squawk Box' to discuss the state of the economy, the bifurcation of the economy, corporate earnings, state of the labor market, impact of the AI boom, state of the ongoing federal government shutdown, his thoughts on the NYC mayoral race, and more.
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IBM
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https://www.cnbc.com/video/2025/10/28/trade-tracker-richard-saperstein-buys-more-dell-and-ibm.html?&qsearchterm=IBM
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Trade Tracker: Richard Saperstein buys more Dell and IBM
| 2025-10-28T00:00:00
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Trade Tracker: Richard Saperstein buys more Dell and IBM
Richard Saperstein, Chief Investment Officer at Treasury Partner, joins CNBC's Halftime Report to detail his latest buys in tech.
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Uber
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https://www.cnbc.com/video/2025/10/29/calls-of-the-day-uber-datadog-unitedhealth-chubb-and-ftai-aviation.html?&qsearchterm=Uber
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Calls of the Day: Uber, Datadog, UnitedHealth, Chubb and FTAI Aviation
| 2025-10-29T00:00:00
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Calls of the Day: Uber, Datadog, UnitedHealth, Chubb and FTAI Aviation
The Investment Committee debate the latest Calls of the Day.
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Citigroup
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https://www.cnbc.com/2025/10/26/buy-msg-stock-because-the-winning-knicks-are-growing-in-value-says-citi.html?&qsearchterm=Citigroup
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Buy MSG stock because the winning New York Knicks are growing in value, Citigroup says
| 2025-10-26T00:00:00
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Investors should buy shares of Madison Square Garden Sports amid projections that the New York Knicks basketball team will grow in value, according to Citigroup Global Markets. The bank reiterated a buy rating Thursday on the owner of the Knicks and the National Hockey League's New York Rangers. Its $285 price target implies about 25% upside from Friday's close. The bullish opinion on MSG Sports, controlled by the Dolan family, came the same day as Forbes reported that the Knicks are valued at an estimated $9.75 billion , 30% more than the year before and the third most in the NBA after the Golden State Warriors and Los Angeles Lakers. "At prevailing levels, Forbes' value suggests MSGS is trading at ~58% discount, above the average discount of 44% and just below the maximum discount of 62%," analyst Steven Sheeckutz wrote in a 16-page report. "We see scope for this discount to attract incremental investors and maintain our Buy rating on MSGS." The Knicks are 2-0 to start the season and one of the favorites to win the Eastern Conference. The analyst also sees room for Forbes' NHL franchise valuations – usually unveiled in December – to increase as well. "Since Forbes' last update, we suspect NHL franchises values may benefit from NHL's new [collective bargaining agreement] agreement (reducing the risk of any work stoppage) and a new Canadian media rights deal, which saw a healthy 2.1x step-up" in average annual value, he said. Notably, Madison Square Garden Sports shares have seen positive moves in the past three years in response to a boost in third-party valuations. In this case, Forbes' updated Knicks valuation could push the stock approximately 12% higher in the 30 trading days after Forbes' latest estimate, Sheeckutz said. MSGS YTD mountain MSGS, year-to-date Though shares have risen roughly 19% in the past six months, they've substantially underperformed the broader market year to date, rising only about 1% versus the S & P 500 gain of more than 15%. While Wall Street is pretty split on MSG Sports, with five of nine analysts rating it the equivalent of buy versus four giving it a hold, the consensus 12-month price target of $252 implies some 10% upside potential.
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Qualcomm
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https://www.cnbc.com/2025/10/27/qualcomm-ai200-ai250-ai-chips-nvidia-amd.html?&qsearchterm=Qualcomm
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Qualcomm announces AI chips to compete with AMD and Nvidia — stock soars 11%
| 2025-10-27T00:00:00
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Qualcomm announced Monday that it will release new artificial intelligence accelerator chips, marking new competition for Nvidia , which has so far dominated the market for AI semiconductors.
The stock soared 11% following the news.
The AI chips are a shift from Qualcomm, which has thus far focused on semiconductors for wireless connectivity and mobile devices, not massive data centers.
Qualcomm said that both the AI200, which will go on sale in 2026, and the AI250, planned for 2027, can come in a system that fills up a full, liquid-cooled server rack.
Qualcomm is matching Nvidia and AMD , which offer their graphics processing units, or GPUs, in full-rack systems that allow as many as 72 chips to act as one computer. AI labs need that computing power to run the most advanced models.
Qualcomm's data center chips are based on the AI parts in Qualcomm's smartphone chips called Hexagon neural processing units, or NPUs.
"We first wanted to prove ourselves in other domains, and once we built our strength over there, it was pretty easy for us to go up a notch into the data center level," Durga Malladi, Qualcomm's general manager for data center and edge, said on a call with reporters last week.
The entry of Qualcomm into the data center world marks new competition in the fastest-growing market in technology: equipment for new AI-focused server farms.
Nearly $6.7 trillion in capital expenditures will be spent on data centers through 2030, with the majority going to systems based around AI chips, according to a McKinsey estimate.
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Qualcomm
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https://www.cnbc.com/video/2025/10/28/qualcomm-ceo-on-new-ai-chips-trying-to-prepare-for-the-next-phase-of-ai-data-center-growth.html?&qsearchterm=Qualcomm
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Qualcomm CEO on new AI chips: Trying to prepare for the next phase of AI data center growth
| 2025-10-28T00:00:00
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Qualcomm CEO on new AI chips: Trying to prepare for the next phase of AI data center growth
CNBC’s Sara Eisen and Qualcomm CEO Cristiano Amon join 'Squawk Box' to discuss the release of its new AI accelerator chips, partnership with Saudi Arabia’s Humain, state of the AI chip race, and more.
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Qualcomm
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https://www.cnbc.com/2025/10/28/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=Qualcomm
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Amazon layoffs, Qualcomm's AI chips, Airbnb cracks down on Halloween and more in Morning Squawk
| 2025-10-28T00:00:00
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Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025. Smith Collection | Gado | Archive Photos | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Amazon's cull
Amazon is laying off 14,000 workers in its latest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company's history, CNBC's Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a person familiar with the matter. Beth Galetti, Amazon's senior vice president of people experience and technology, wrote in a blog post that the company needs to be "organized more leanly" and have fewer layers. Amazon is the second-largest private employer in the U.S. with upwards of 1.5 million employees. The 14,000 cuts announced this morning represent about 4% of its corporate and tech workforce. Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.
2. Chips on the table
Budrul Chukrut | SOPA Images | Lightrocket | Getty Images
Qualcomm announced yesterday that it would release artificial intelligence accelerator chips. The initiative makes the company a new competitor for Nvidia and AMD , underscoring the growing market for equipment tied to AI data centers. Here's what to know: Qualcomm said that its AI200 and AI250 chips will debut in 2026 and 2027, respectively. The data center chips are based on AI parts already in Qualcomm's smartphone chips.
So far, Nvidia has dominated the AI chip industry, accounting for more than 90% of the graphics processing units, or GPUs, in the market.
Qualcomm CEO Cristiano Amon told CNBC's "Squawk Box" this morning that energy efficiency and lower operating costs differentiate his company's offerings.
Shares of Qualcomm surged 11% in yesterday's session, making it the stock's best day since April.
Qualcomm's gain helped drive the broader market to all-time highs yesterday, with the S&P 500 Follow live markets updates here.
3. Running a list
U.S. Treasury Secretary Scott Bessent speaks to reporters as U.S. President Donald Trump stands next to him aboard Air Force One en route to Tokyo, Japan, for the second stop on his Asia tour, Oct. 27, 2025. Evelyn Hockstein | Reuters
Treasury Secretary Scott Bessent confirmed there are five finalists left in the running to succeed Federal Reserve Chair Jerome Powell. On the list: Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock's Rick Rieder. That's the same group of candidates CNBC reported earlier this month. President Donald Trump said he will likely announce his pick by the end of 2025. Meanwhile, the Federal Open Market Committee will kick off its two-day meeting today, with all eyes on its interest rate decision due tomorrow.
4. iBuyer
Roomba vacuums by iRobot are displayed at Best Buy store on January 19, 2024 in San Rafael, California. Justin Sullivan | Getty Images
Shares of iRobot tumbled more than 33% yesterday after the company warned in a securities filling that its search for a buyer has reached an impasse. The Roomba maker said negotiations with its last remaining bidder fell through following a "lengthy period of exclusive negotiations" last week. iRobot has been trying to find a buyer for its business since March. The company has been in a rough spot since Amazon dropped its acquisition bid last year.
Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today.
5. Party crashers
Austin Andres and her son Quinn, 2, shop for pumpkins at Maple Acres Farm in Plymouth Meeting, Pa., Tuesday, Oct. 17, 2017. Matt Rourke | AP
If you're in the market for pumpkin carving materials or candy this Halloween season, you're likely in for some sticker shock. An analysis of retail pricing data shows these goods have seen jumps as big as 300% as tariffs raise costs for suppliers. Joe Ens, CEO of Pumpkin Masters parent Signature Brands, told CNBC he hopes shoppers will accept price increases to continue traditions like pumpkin decorating. The average consumer is expected to spend a record $114 tied to Halloween this year, according to the National Retail Federation. Meanwhile, Airbnb is hoping for a quiet Halloween weekend at its rental properties. The company said it will use anti-party technology to quell large gatherings held at bookings in the U.S. and Canada.
The Daily Dividend
In an exclusive interview with CNBC, Microsoft co-founder Bill Gates said climate change is "super important but has to be considered in terms of overall human welfare." In a letter published ahead of a U.N. climate summit next week, Gates wrote that too many resources are going toward the environment and that more money should go toward fighting poverty and disease.
watch now
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Qualcomm
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https://www.cnbc.com/video/2025/10/27/qualcomms-stock-action-similar-to-what-it-did-in-1999-jim-cramer.html?&qsearchterm=Qualcomm
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Qualcomm's stock action similar to what it did in 1999, says Jim Cramer
| 2025-10-27T00:00:00
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Qualcomm's stock action similar to what it did in 1999, says Jim Cramer
CNBC's Jim Cramer discusses Palantir's stock action, Qualcomm's announcement that it will release new AI chips and more.
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Qualcomm
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https://www.cnbc.com/video/2025/10/27/qualcomm-shares-should-be-up-but-not-that-much-says-gene-munster.html?&qsearchterm=Qualcomm
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Qualcomm shares should be up, but not that much, says Gene Munster
| 2025-10-27T00:00:00
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Qualcomm shares should be up, but not that much, says Gene Munster
CNBC’s “Fast Money” team discusses semiconductor stocks leading markets to new highs after Qualcomm's announcement that it will release new AI chips with Gene Munster, managing partner at Deepwater Asset Management.
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Qualcomm
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https://www.cnbc.com/2025/10/27/stocks-making-big-moves-midday-qualcomm-fermi-organon-and-more-.html?&qsearchterm=Qualcomm
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Stocks making the biggest moves midday: Qualcomm, Fermi, Dyne Therapeutics, Organon, Snowflake and more
| 2025-10-27T00:00:00
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Check out the companies making the biggest moves midday: Qualcomm — The chipmaker soared more than 11% after announcing artificial intelligence processors to compete with AMD and Nvidia . The AI chips are a shift for Qualcomm , which has previously focused on semiconductors for wireless connectivity and mobile devices, not massive data centers. Intellia Therapeutics — The clinical stage genome editing company plunged 45% after pausing patient dosing and screening for its MAGNITUDE and MAGNITUDE-2 Phase 3 clinical trials. FTI Consulting – The management consultant rose more than 5%. CEO Steven Gunby disclosed in a security filing that he bought 7,500 shares at $151.12 each. This comes after the company posted third-quarter earnings of $2.60 per share on revenue of $956.2 million, versus Street estimates of $1.99 and $945.1 million, based on analysts polled by FactSet. Fermi -- The AI data center developer briefly climbed as much as 9% before giving back the entire gain. Mizuho, Stifel, UBS and Rothschild & Co. Redburn began research coverage after Fermi's Sept. 30 IPO at $21 per share, assigning price targets ranging from between $27 to $31. Fermi has no revenue, but analysts are bullish on its deals to produce nuclear-power reactors for an AI data center campus in Texas. UBS, Evercore ISI, Cantor and Mizuho led Fermi's IPO. Shares most recently were off 1.1%. Dyne Therapeutics —The RNA-based treatment maker soared 41% after Novartis agreed to buy Dyne rival Avidity Biosciences for $12 billion in cash . Avidity Biosciences — Avidity Biosciences soared more than 42% after the Novartis sale agreement at $72 a share, 46% above Friday's close. Organon -- The women's health-focused drugmaker spun off by Merck in 2021 said CEO Kevin Ali resigned after an internal investigation found "improper" sales practices for its Nexplanon contraceptive implant. Shares plunged 22%. Snowflake -- The cloud data provider stock added 3% after it reaffirmed third-quarter product revenue guidance of between $1.125 billion to $1.13 billion, and full-year revenue of $4.395 billion, both originally issued in late August. Doximity -- The digital medical platform popped surged more than 4% on the heels of a Bank of America upgrade to buy from neutral. The bank said a shift in spending to the health care provider channel can result in faster revenue growth. Huntington Bancshares — Ohio-based Huntington dropped as much as 4% after agreeing to buy Cadence Bank (up 5.2%) for $7.4 billion in stock. American Water Works — The New Jersey-based utility declined 1.4% on plans to buy Essential Utilities in an all-stock deal that will leave American as the majority holder in a new $40 billion company. Rare earth miners — Treasury Secretary Scott Bessent said Sunday he expects China to delay imposing strict rare earth export controls as part of a tentative trade deal with the U.S. United States Antimony tumbled 22%, Critical Metals plunged 15%, USA Rare Earth slid 9%. MP Materials was off 8% and Energy Fuels by 11%. Janus Henderson — Shares climbed 13% after Nelson Peltz's Trian Fund Management said it's working with investment firm General Catalyst to buy the remaining shares of Janus Henderson it doesn't already own . The buyout offer values the asset manager at about $7 billion, according to Bloomberg, which cited people familiar with the matter. Lululemon Athletica — The athletic apparel maker gained 2% after partnering with the National Football League and Fanatics to launch an apparel collection for NFL teams. Nvidia — The leading AI chipmaker rose almost 3% after Bessent said President Donald Trump and Chinese President Xi Jinping are set to reach a deal to avoid a new 100% U.S. tariff on Chinese goods. Gold miners — Gold prices fell Monday amid a potential trade truce between the U.S. and China, driving down Newmont , Coeur Mining and Hecla Mining by between 5% and 7%. Five Below — The discount retailer rose more than 2% after JPMorgan upgraded the stock to overweight, citing strong Halloween sales as a catalyst. Carter's — The children's clothing company rose 2.7% after third-quarter earnings per share excluding one-time items and operating income both beat Wall Street consensus estimates, according to FactSet data. Keurig Dr Pepper — The 7-up maker climbed 7% third-quarter revenue of $4.31 billion topped the $4.15 billion expected from analysts polled by FactSet. Keurig Dr Pepper also raised its full-year guidance to high-single-digit revenue growth from mid-single-digit revenue growth. Revvity — The biotechnology company dropped 3% following a third-quarter revenue miss. Revvity reported $699 million in revenue, versus the $699.4 million consensus estimate, according to FactSet. It also lowered its revenue guidance to between $2.83 billion and $2.88 billion from its prior guidance of $2.84 billion and $2.88 billion. Harley-Davidson — The motorcycle maker fell 4% after Morgan Stanley cut it to underweight from equal weight, citing lower pricing power and weak secular trends. Life Time Group Holdings — Morgan Stanley upgraded the health and fitness company to overweight from equal weight, sending shares nearly 5% higher. The firm's analysts expect upside consensus estimates as new club growth improves membership trends. DoorDash — The delivery stock rose 2% after Goldman Sachs reinstated coverage at a buy. Goldman said industry research shows positive momentum in deliveries and called DoorDash a category leader. Beyond Meat — The meme stock moved 9% lower after more than tripling last week. — CNBC's Lisa Kailai Han, Michelle Fox, Sean Conlon, Pia Singh, Alex Harring, Yun Li, Sarah Min and Liz Napolitano contributed reporting. (Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here .)
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Qualcomm
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https://www.cnbc.com/video/2025/10/27/bernsteinas-stacy-rasgon-breaks-down-why-he-likes-qualcomm.html?&qsearchterm=Qualcomm
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Bernstein’s Stacy Rasgon breaks down why he likes Qualcomm
| 2025-10-27T00:00:00
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Bernstein’s Stacy Rasgon breaks down why he likes Qualcomm
Stacy Rasgon, Bernstein U.S. semiconductor managing director and senior analyst, joins CNBC’s ‘Squawk on the Street’ to discuss Qualcomm after the company announced plans to release new artificial intelligence accelerator chips targeting the AI inference market.
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Qualcomm
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https://www.cnbc.com/video/2025/10/27/qualcomm-announces-new-data-center-ai-chips-to-target-ai-inference.html?&qsearchterm=Qualcomm
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Qualcomm announces new data center AI chips to target AI inference
| 2025-10-27T00:00:00
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Qualcomm
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https://www.cnbc.com/2025/10/28/tuesday-analyst-calls-from-stocks-like-apple.html?&qsearchterm=Qualcomm
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Here are Tuesday's biggest analyst calls: Apple, Qualcomm, Amazon, Palantir, Reddit, Microsoft & more
| 2025-10-28T00:00:00
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Here are Tuesday's biggest calls on Wall Street: Wells Fargo initiates Vistra Energy as overweight Wells said the utility and energy company is well positioned. "We are initiating coverage of VST with an Overweight rating, as it fits within the absolute call on IPPs [independent power producer]—similar story to our Best Idea CEG, but with slightly longer dated catalyst path." Deutsche Bank reiterates Reddit as buy Deutsche said it's bullish on the stock ahead of earnings on Thursday. "While Google-related referral traffic concerns remain, internal initiatives appear to be a focus, potentially giving Reddit more control of user growth including 1) the new marketing strategy (both brand and performance), and 2) partnerships with publishers, such as with video game news sites and other referral surfaces, which combined should further stabilize user growth." Mizuho initiates Domino's Pizza as outperform Mizuho said Domino's is best positioned. "High visibility into Q4 and 2026 SSS growth expectations as carryout's growing relative affordability sustains transaction growth and as third-party delivery rollout offsets delivery headwind." Goldman Sachs initiates Qnity as buy Goldman said it's bullish on the semiconductor materials company. "We initiate coverage of Q.WI with a Buy rating and a 12-month price target of $110." Wells Fargo initiates NextEra Energy as overweight Wells says the energy company is undervalued. "We don't ascribe to the bear arguments that we think have pressured valuation/performance for most of 2025. We see tax credit roll-off as manageable, & the diversity of NEE's businesses can sustain a premium earnings growth into the LT." UBS upgrades Upwork to buy from neutral UBS said the online labor marketplace is underappreciated. "We are upgrading Upwork to Buy with a $21 price target." Jefferies upgrades Nokia to buy from hold Jefferies sad the company is a rising data center play. "Nokia is transforming from a predominantly Radio Access-centric business struggling for growth, to one where rising AI data centre exposure of the Optical and IP Networking segments is expected to drive steady growth." Baird reiterates Apple as outperform Baird said it's bullish ahead of Apple earnings on Thursday. The firm raised its price target to $280 per share from $230. "Expect solid FQ4 results/guidance. It's still early in the iPhone 17 cycle, but early indicators appear to be directionally supportive, including solid upgrade rates posted by AT & T/T-Mobile last week. However, the bigger focus is likely to be the December-quarter outlook, and we'd note that current estimates look potentially conservative based on historical sequential seasonality" UBS reiterates Amazon as buy UBS raised its price target on Amazon ahead of earnings on Thursday. "We raise our price target to $279 from $271 as we roll forward our valuation parameters by one quarter." Read more. Citi initiates Gold Fields as buy Citi said the metals company is a beneficiary of higher gold prices. "We believe GFI should trade at higher multiples due to: well capitalized assets now which means unlike the previous gold bull cycles, benefits of higher gold prices should lead to higher FCF generation rather than increase in capex..." Read more. Oppenheimer initiates TeraWulf as outperform Oppenheimer said the bitcoin miner is a "Direct Play on AI Digital Infrastructure Undersupply." "Initiating on WULF with an Outperform rating and a $20 price target." Bank of America reiterates Qualcomm as buy The firm said it's standing by the stock head of earnings next week. "Qualcomm's push into the data center market strengthens its diversification roadmap, building on past success in the automotive and IoT markets." Citi reiterates Palantir as neutral Citi raised its price target on Palantir ahead of earnings week to $190 per share from $177. "Our intra-Q checks from partners and customers were positive, including checks from Oracle and Snowflake conferences intra-Q, where partners reported uptick in collaborative deals." RBC initiates Evergy as outperform RBC said the utility company has the "best torque." "We are initiating coverage of Evergy at Outperform, PT $93." Read more. Bank of America upgrades RB Global to buy from neutral Bank of America said shares of the auction company are too attractive to ignore. "After RBA share price pull back, we believe risk-reward is turning more favorable. RB is a leading marketplace for used assets." Evercore ISI reiterates Microsoft as outperform Evercore said it's sticking with the stock heading into earnings on Wednesday. "Capex growth should remain healthy and reflect tight capacity for AI infrastructure. Our sense is that Microsoft will note that capacity 'remains tight' and the company will continue to invest against AI demand signals." Bank of America upgrades Virtu Financial to buy from neutral Bank of America said buy the dip the on the electronic market maker. "We are taking advantage of recent underperformance to upgrade Virtu (VIRT) to Buy from Neutral."
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Qualcomm
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https://www.cnbc.com/video/2025/10/27/qualcomm-stock-pop-warranted-says-constellation-researchs-ray-wang.html?&qsearchterm=Qualcomm
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Qualcomm's stock pop is warranted, says Constellation Research's Ray Wang
| 2025-10-27T00:00:00
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In this video
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Qualcomm's stock pop is warranted, says Constellation Research's Ray Wang
CNBC’s “Closing Bell Overtime” team discusses what to expect out of Big Tech earnings with Ray Wang of Constellation Research.
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BlackRock
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https://www.cnbc.com/video/2025/10/29/blackrock-co-cio-jeff-shen-sees-constructive-backdrop-for-equities-favors-overseas-opportunities.html?&qsearchterm=BlackRock
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BlackRock Co-CIO Jeff Shen sees constructive backdrop for equities, favors overseas opportunities
| 2025-10-29T00:00:00
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BlackRock Co-CIO Jeff Shen sees constructive backdrop for equities, favors overseas opportunities
BlackRock's Jeff Shen, co-chief investment officer and co-head of Systematic Equities, remains constructive on U.S. equities over the next six to twelve months, but he says investors may find more compelling opportunities overseas as global markets play catch-up.
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BlackRock
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https://www.cnbc.com/2025/10/28/-blackrock-linked-tokenization-firm-securitize-to-go-public-via-spac-deal.html?&qsearchterm=BlackRock
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BlackRock-linked tokenization firm Securitize to go public via SPAC deal
| 2025-10-28T00:00:00
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Carlos Domingo, chief executive officer of Securitize Inc., speaks during the Messari Mainnet summit in New York, US, on Thursday, Sept. 21, 2023. Photographer: Michael Nagle/Bloomberg via Getty Images
Securitize, the "real world assets" platform that powers BlackRock's tokenized money market fund, will go public through a merger with a special purpose acquisition company, CEO Carlos Domingo told CNBC in an exclusive interview.
The fintech firm will merge with Cantor Equity Partners II, Inc., a blank-check company sponsored by an affiliate of Cantor Fitzgerald that trades under the CEPT ticker. The deal values Securitize's business at $1.25 billion in pre-money equity.
"Tokenization is what everybody's talking about … but there's nobody publicly traded that does it," Domingo told CNBC. "We will do well in the public market because people want to index themselves to tokenization the same way that people are buying Circle because they want to index themselves to stablecoins."
Tokenization refers to the registration of ownership rights to real-world assets such as stocks, bonds or gold on a blockchain. The process enables more transparent and around-the-clock trading versus traditional methods, according to its proponents — among whom are Robinhood Markets CEO Vlad Tenev and BlackRock CEO Larry Fink.
Following the merger, the combined entity Securitize Corp.'s stock will trade on the Nasdaq under the ticker symbol SECZ. Shares could begin trading on the exchange as soon as January, according to Domingo.
The company will book $465 million in gross proceeds from the deal. That includes $225 million from private investors including Borderless Capital and Hanwha Investment, and $240 million in the SPAC's trust account, assuming no redemptions.
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BlackRock
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https://www.cnbc.com/2025/10/29/blackrock-co-cio-jeff-shen-stays-upbeat-on-us-stocks-sees-opportunities-abroad.html?&qsearchterm=BlackRock
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Blackrock Co-CIO Jeff Shen stays upbeat on U.S. stocks, sees opportunities abroad
| 2025-10-29T00:00:00
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BlackRock's Jeff Shen, remains constructive on U.S. equities over the next six-to-12 months, but he said investors may find more compelling opportunities overseas as global markets play catch-up. "There's a fundamental capital expenditure story, given the excitement around artificial intelligence and the potential productivity growth coming from this investment," said Shen, co-chief investment officer and co-head of systematic equities at BlackRock, in an interview on the sidelines of the Sohn Investment conference in San Francisco. The S & P 500 has rebounded aggressively from its April lows to score consecutive record highs, bringing its 2025 gains to more than 17%. U.S. The powerful rally has been fueled by optimism over artificial intelligence and expectations for rate cuts, but questions have emerged over whether the advance can be sustained and if markets are entering a late stage of the cycle, with valuations stretched and growth momentum moderating. .SPX YTD mountain S & P 500 year to date Shen sees room for U.S. stocks to grind higher, citing supportive policy, a pickup in capital investment and signs of easing geopolitical tensions. Still, he noted that much of the good news may already be reflected in valuations in the U.S. "The market is pricing in a pretty accommodative financial condition on a forward-looking basis," he said. "Some of that optimism is probably already priced in, especially with U.S. assets." Shen pointed to international markets — from Europe to Asia — as potential beneficiaries of the global easing cycle and the broader AI-driven investment boom. "International markets may very well be a good place to take a close look," he said. "They could offer some of the more interesting opportunities ahead." Europe's Stoxx 600 is up 13.4% year to date. In Asia, the Shanghai Composite has jumped 19.8%, while the Nikkei 225 has soared 28.6%.
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Boeing
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https://www.cnbc.com/2025/10/29/boeing-ba-3q-2025-earnings.html?&qsearchterm=Boeing
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Boeing stems cash burn for first time since 2023 but takes $4.9 billion charge on 777X delays
| 2025-10-29T00:00:00
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A Boeing 777x is displayed during the International Paris Air Show at the Paris-Le Bourget Airport on June 20, 2023.
Boeing said Wednesday its jetliner deliveries drove it back into cash-positive territory for the first time in nearly two years, but it took a $4.9 billion charge on additional delays of its long-awaited 777X wide-body plane.
Boeing is on track to deliver the most aircraft this year since 2018, before two crashes grounded its bestselling jetliner, the Covid pandemic hit supply chains and a host of manufacturing crises drove years of losses at the top U.S. exporter.every
CEO Kelly Ortberg, an aerospace veteran who came out of retirement to helm Boeing in August 2024, has worked to steady the manufacturer's sprawling supply chain and cash-generating production lines.
The 777X, an updated version of its 777 plane, took its first flight nearly six years ago but still hasn't won regulator approval. Boeing said it now expects the first delivery in 2027, leading to the noncash charge.
Boeing CFO Jay Malave told analysts that questioned why the charge on the program was so high that slower production rates and holding onto planes longer for rework added to costs.
"The team is just not going to sit here and take this lightly and hasn't taken it lightly," Malave said. "They are focused — we are all focused on doing everything we can to improve the long-term productivity on this program, while also working to mitigate the total delay impact to our customers the best we can."
Boeing stock fell 4% on Wednesday, though it is still up more than 20% so far this year.
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Boeing
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https://www.cnbc.com/2025/10/29/jim-cramer-says-buy-boeing-on-wednesdays-decline-hes-looking-forward-not-back.html?&qsearchterm=Boeing
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Jim Cramer says buy Boeing on Wednesday's decline — he's looking forward, not back
| 2025-10-29T00:00:00
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Boeing shares moved lower after Wednesday morning's messy third-quarter release. Despite a wider-than-expected loss, operational execution is improving, and the company is well-positioned to deliver more aircraft going forward. That will boost free cash flow, which is the ultimate driver of the share price. Revenue in the third quarter ending Sept. 30 rose 30% year over year to $23.27 billion, topping expectations of $21.97 billion, according to market data service LSEG. Loss per share was narrower year over year, but still $7.47. That was much worse than the $4.59 loss per share the Street had estimated. Analysts were expecting a major charge associated with delays in the 777X program. But the actual charge of $4.9 billion turned out to be bigger than estimates and increased Boeing's Q3 loss by $6.45 per share. BA YTD mountain Boeing YTD Shares of Boeing, a Club name and one of the 30 components that make up the Dow Jones Industrial Average , fell 4%. The stock, however, was still up more than 20% year to date, as Boeing aircraft have become a way for countries to reduce their trade deficits with the United States. Boeing has gotten lots of international business since President Donald Trump started negotiating and making deals with countries to mitigate tariffs. Trade policy is a major pillar of our investment thesis in Boeing, which we initiated last month . We have been making additional small buys to bulk out the position. Jim Cramer said the Club would have been buyers of Wednesday's dip if we were not restricted. Bottom line Big per-share losses and charges related to core programs are never good. But what we see overall points to improving operational performance. Starting with the operating loss, the largest contributor was the charge, which we warned members about ahead of the release. Here is what led to the charge: The 777X, an updated version of the wide-body 777 plane, still has not gotten regulatory approval, six years after its initial test flight. While management said the 777X is doing well in subsequent flight testing, the longer-than-anticipated certification process caused them to push out the expected timeline for the first delivery to 2027. Against these challenges, however, there are also many positives. At the core of how many investors value Boeing is free cash flow. Here, we got a very welcome surprise as the company reported its first positive free cash flow since 2023. The Street expected a negative number. Free cash flow was not expected to flip positive until the current fourth quarter. So, that was a bit ahead of schedule. Why we own it Boeing is improving operational execution and will be able to ramp up production on key programs and, in turn, increase monthly deliveries and leading to growth in free cash flow, the most important financial metric for investors when it comes to valuing the stock. Boeing also benefits from U.S. trade policy. Competitors : Airbus Most recent buy : Oct. 10, 2025 Initiated : Sept. 8, 2025 Commercial airplane deliveries, which drive free cash flow, were also a bright spot, increasing nearly 38% year over year to the highest quarterly total since 2018. Better yet, deliveries should continue to improve given that, in October – after the close of the reported third quarter – the Federal Aviation Administration authorized Boeing to increase 737 production to a rate of 42 per month, up from the prior rate of 38 per month. Boeing's backlog also improved, ending the quarter at $636 billion, nearly $600 billion of which is contractual. Also included in that backlog are over 5,900 commercial aircraft valued at nearly $535 billion. The faster Boeing can deliver planes, the faster it can convert that backlog to actual sales and improve its free cash flow ever further. Given better-than-expected deliveries, the coming increase in monthly production rates, and ahead-of-schedule positive free cash flow, the signs point to improving execution. While looking to increase overall production, management will do so in a disciplined manner. They plan to ramp slowly over time as key performance indicators (KPIs) dictate, to ensure there are no hiccups. For those reasons, we are willing to look past the big Q3 loss and change and focus on the positives. We're reiterating our buy-equivalent 1 rating and our $275 per share price target. Segment commentary Commercial Airplanes revenue jumped 49% to $11.01 billion in the third quarter. During the post-release conference call, CEO Kelly Ortberg noted that while Boeing will be guided by KPIs, the company sees 787 production increasing eight per month "in the near future." On the 777X program, Ortberg said, "We've accumulated more than 4,000 flight hours, more than double a typical flight test program, and so far, there are no major technical issues on the airplane or on the engine. In the quarter, we completed critical testing of the airplane's brakes, engines, takeoff performance, and aerodynamic performance. However, we still have a significant portion of the flight test certification program to go." "This is obviously a disappointment, but we just need more time to complete the certification process," he added. "[But] demand for the airplane remains strong, and we remain confident that the 777X will be the next flagship airplane for our global customers." Defense, Space & Security revenue rose nearly 25% to $6.9 billion. This segment develops and produces manned and unmanned military aircraft, as well as weapons systems. Sales and operating margin performance reflected stabilizing operational performance and higher volume. The segment's backlog increased to $76 billion as orders valued at $9 billion were recorded during the quarter. That's up from a $74 billion backlog reported in the prior quarter. Global Services revenue increased roughly 9.6% to $5.37 billion. This segment provides services to commercial and defense customers. Sales growth was driven by higher volumes, while year-over-year operating margin expansion reflected favorable commercial volume and mix. The segment's backlog increased to $25 billion as orders valued at $8 billion were recorded during the quarter. That's up from a $22 billion backlog reported in the prior quarter. (Jim Cramer's Charitable Trust is long BA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Boeing
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https://www.cnbc.com/video/2025/10/29/watch-cnbcs-full-interview-with-boeing-ceo-kelly-ortberg.html?&qsearchterm=Boeing
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Watch CNBC's full interview with Boeing CEO Kelly Ortberg
| 2025-10-29T00:00:00
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Watch CNBC's full interview with Boeing CEO Kelly Ortberg
Kelly Ortberg, Boeing CEO, joins 'Squawk on the Street' to discuss the company's charge around the 777X, how much the government shutdown is impacting Boeing and much more.
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Boeing
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https://www.cnbc.com/video/2025/10/29/boeing-ceo-we-have-600b-of-backlog.html?&qsearchterm=Boeing
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Boeing CEO: We have $600B of backlog
| 2025-10-29T00:00:00
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Boeing CEO: We have $600B of backlog
Kelly Ortberg, Boeing CEO, joins 'Squawk on the Street' to discuss the company's charge around the 777X, how much the government shutdown is impacting Boeing and much more.
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Boeing
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https://www.cnbc.com/video/2025/10/29/morgan-stanleys-kristine-liwag-breaks-down-boeings-q3-results.html?&qsearchterm=Boeing
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Morgan Stanley's Kristine Liwag breaks down Boeing's Q3 results
| 2025-10-29T00:00:00
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Morgan Stanley's Kristine Liwag breaks down Boeing's Q3 results
Kristine Liwag, Morgan Stanley senior aerospace and defense equity analyst, joins 'Squawk Box' to break down Boeing's quarterly earnings results.
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Boeing
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https://www.cnbc.com/2025/10/26/boeing-union.html?&qsearchterm=Boeing
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Workers reject Boeing's latest offer after nearly three months on strike
| 2025-10-26T00:00:00
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People hold signs during a strike rally for the International Association of Machinists and Aerospace Workers (IAM) at the Seattle Union Hall in Seattle, Washington, on October 15, 2024.
Striking workers at Boeing Defense in the St. Louis area rejected the company's latest contract proposal on Sunday, sending a strike that has already delayed delivery of fighter jets and other programs into its 13th week.
In a statement after the vote, union leadership said the company had failed to address the needs of the roughly 3,200 members of the International Association of Machinists and Aerospace Workers (IAM) District 837.
"Boeing claimed they listened to their employees - the result of today's vote proves they have not," IAM International President Brian Bryant said in a statement. "Boeing's corporate executives continue to insult the very people who build the world's most advanced military aircraft - the same planes and military systems that keep our servicemembers and nation safe."
"We're disappointed with the vote result," Boeing said in a statement, adding that "we are turning our focus to executing the next phase of our contingency plan."
The five-year offer was largely the same as offers previously rejected by union members. The company reduced the ratification bonus but added $3,000 in Boeing shares that vest over three years and a $1,000 retention bonus in four years. It also improved wage growth for workers at the top of the pay scale in the fourth year of the contract.
"To fund the increases in this offer, we had to make trade-offs," including reduced hourly wage increases tied to attendance and certain shift work, Boeing Vice President Dan Gillian said in a message to workers on Thursday.
IAM leaders have pressed the planemaker for higher retirement plan contributions and a ratification bonus closer to the $12,000 that Boeing gave to union members on strike last year in the company's commercial airplane division in the Pacific Northwest.
Boeing's Gillian has called the company's offer a landmark deal and "market-leading," and he has repeatedly said Boeing would not increase the overall value of its terms, and only shift value around.
Boeing is expected to report another unprofitable quarter when it posts its third-quarter results on Wednesday. Wall Street analysts anticipate the company will announce a multi-billion-dollar charge on its 777X program, which is six years behind schedule and not yet certified by regulators.
In September, IAM members approved the union's proposed four-year contract. However, Boeing management has refused to consider that offer.
The IAM estimates that its offer would add about $50 million to the agreement's cost over its four-year duration, compared with the company offer that was rejected. Boeing CEO Kelly Ortberg is set to earn $22 million this year.
Union officials accused Boeing of bargaining in bad faith in an unfair labor practice charge filed October 16 with the National Labor Relations Board.
"It's well past time for Boeing to stop cheaping out on the workers who make its success possible and bargain a fair deal that respects their skill and sacrifice," Bryant said. Union members say they are getting by on a mix of $300 a week in strike benefits from the IAM, second jobs, and belt-tightening. Boeing has said that striking workers' coverage under company-provided health insurance ended on August 30.
Since the strike began on August 4, Boeing officials have repeatedly said the company's mitigation plan has limited the effects of the work stoppage on production.
However, it has delayed deliveries of F-15EX fighters to the U.S. Air Force, General Kenneth Wilsbach told the Senate Armed Services Committee in comments submitted for an October 9 hearing on his nomination as the Air Force's chief of staff.
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Boeing
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https://www.cnbc.com/2025/10/29/stocks-making-the-biggest-moves-midday-cat-lrn-nvda-grmn-ba.html?&qsearchterm=Boeing
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Stocks making the biggest moves midday: Caterpillar, Stride, Nvidia, Garmin, Boeing & more
| 2025-10-29T00:00:00
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Check out the companies making the biggest moves midday: Stride — The for-profit education company plunged 50%, on pace for its worst day ever, on much weaker-than-expected guidance. The company sees fiscal second-quarter revenue between $620 million and $640 million. Analysts on average expected an outlook of $613.3 million. Full-year revenue and operating income guidance also fell short of estimates. Caterpillar — The construction and agriculture equipment manufacturer jumped 12% on better-than-expected results for the third quarter. Caterpillar earned $4.95 per share, adjusted, on revenue of $17.64 billion. Analysts polled by LSEG expected a profit of $4.59 per share on revenue of $16.77 billion. The stock was on pace for its biggest one-day gain since 2009. Avantor — Shares of the pharmaceutical company fell more than 17% after the company cut its organic revenue outlook for the full year. Third-quarter earnings of 22 cents per share, excluding certain items, matched a FactSet consensus. Garmin — The maker of exercise device trackers fell nearly 11% on mixed third-quarter results. The company reported adjusted earnings of $1.99 per share on sales of $1.77 billion. Earnings matched a FactSet consensus, while revenue was just shy of estimates. Extreme Networks — The stock plunged 16% as investors were underwhelmed by the cloud networking solutions provider's latest earnings. Extreme Networks posted earnings of 22 cents per share versus, while analysts polled by FactSet expected a profit of 21 cents per share. CoStar Group — The real estate marketplace and analytics company dropped more than 17%, even after the company posted a beat on top and bottom lines. CoStar reported third-quarter adjusted earnings per share of 23 cents, higher than the 18 cents per share analysts polled by FactSet had called for. The company's revenue of $834 million also beat analysts' expectations of $813.2 million for the period, according to FactSet. Flowserve — Shares soared 30% on the back of the company's strong third-quarter earnings and guidance. The industrial and environmental machinery supplier reported adjusted earnings per share of 90 cents, higher than the 80 cents per share analysts polled by FactSet were expecting. For the full year, the company also guided earnings per share, excluding items, higher to between $3.40 and $3.50 per share, compared to its previous guidance of between $3.25 and $3.40 per share. Kirby — The petrochemicals transporter skyrocketed more than 15.5% after the company reported better-than-expected earnings and revenue results. For the third quarter, Kirby posted earnings of $1.65 per share on revenue of $871.2 million, while analysts polled by FactSet expected $1.63 per share on $845.5 million in revenue. Nvidia — Shares climbed 2%, building on the rally of around 5% seen in the prior session. The chipmaker's market cap ballooned to above $5 trillion in Wednesday trading , which no other company has hit before. Boeing — The aerospace company fell 3% after it reported its latest quarterly results. For the third quarter, Boeing posted $23.27 billion in revenue, above the $21.97 billion that analysts surveyed by LSEG were expecting. However, it posted a steeper loss than expected, reporting $7.47 in adjusted loss per share compared to the loss of $4.59 per share analysts were looking for. Fiserv — Shares of the financial services tech company plunged 40% on the back of a massive third-quarter earnings miss. Fiserv earned $2.04 per share, excluding certain items, on revenue of $4.92 billion. Analysts expect earnings per share of $2.64 per share on revenue of $5.35 billion. The company also slashed it full-year earnings guidance. If this loss holds, it would be its biggest one-day decline on record. Seagate Technology — The data storage company added 17% after beating expectations for the first fiscal quarter. Seagate earned $2.61 per share on an adjusted basis and revenue at $2.63 billion, while analysts surveyed by LSEG had penciled in $2.37 a share on $2.55 billion in revenue. Centene — The managed care company jumped 11% after posting better-than-expected earnings for the third quarter and raising its guidance. Centene earned 50 cents per share despite analysts polled by FactSet anticipating a per-share loss of 14 cents. The company recorded $49.69 billion in revenue, also topping the consensus estimate of $47.72 billion. TE Connectivity — Shares gained 2% following a stronger-than-forecast earnings report for the fiscal fourth quarter. TE said it earned $2.44 per share, excluding items, on $4.75 billion in revenue, while analysts anticipated $2.29 a share and $4.58 billion, respectively. Teradyne — Shares of the test system and robotic products suppliers surged 19% on a positive earnings report and outlook. Teradyne earned 85 cents, excluding items, on $769 million in revenue for the third quarter, while analysts predicted 79 cents and $744.1 million, per FactSet. Brinker International — The stock fell 4% after the chain restaurant owner issued full-year revenue guidance in the range of $5.60 billion to $5.70 billion. That's slightly below the Street's average forecast of $5.72 billion for the firm's 2025 revenue, per FactSet. Bloom Energy — The energy technology stock jumped 13.9%. Bloom earned an adjusted 15 cents per share on revenue of $519 million in the third quarter, surpassing FactSet consensus estimates of 10 cents per share an $428.4 million in revenue. Caesars Entertainment — The casino operator dropped 10% after its third-quarter financial results disappointed investors. Caesars reported a loss of 27 cents per share on revenue of $2.87 billion. Analysts surveyed by LSEG had expected a loss of 5 cents per share on revenue of $2.89 billion. Enphase Energy — The energy technology company tumbled more than 13% after its full-year revenue guidance of $310 million to $350 million fell short of the $382.9 million expected from analysts, per FactSet. Enphase Energy also said tariffs had an impact on its third-quarter gross margins. Its adjusted earnings for the quarter, however, topped expectations. — CNBC's Pia Singh, Alex Harring, Liz Napolitano, Sean Conlon and Michelle Fox contributed reporting
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Boeing
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https://www.cnbc.com/2025/10/29/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=Boeing
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Nvidia's day of deals, the Fed decision, Boeing earnings and more in Morning Squawk
| 2025-10-29T00:00:00
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Jensen Huang, chief executive officer of Nvidia Corp., during a Bloomberg Television interview at the Nvidia AI summit in Washington, DC, US, on Tuesday, Oct. 28, 2025. Kent Nishimura | Bloomberg | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Hand over fist
2. Decision day
Jerome Powell, chairman of the US Federal Reserve, during the International Monetary Fund (IMF) and World Bank Fall meetings at the IMF headquarters in Washington, DC, US, on Thursday, Oct. 16, 2025. Kent Nishimura | Bloomberg | Getty Images
The Federal Reserve will announce its penultimate interest rate decision for 2025 at 2 p.m. ET today, and traders see a cut as a foregone conclusion: Fed funds futures are pricing in a 99.9% chance of a 25 basis point cut, according to the CME's FedWatch tool. Still, investors will keep an eye on whether any Fed officials break with the majority, and whether Fed chair Jerome Powell's post-announcement press conference provides any clues into the future path on monetary policy. Respondents to CNBC's October Fed Survey also expressed concern about how the central bank is analyzing the economy with some data on hold thanks to the government shutdown.
3. What's in a name?
Sam Altman, chief executive officer of OpenAI Inc., during a media tour of the Stargate AI data center in Abilene, Texas, US, on Tuesday, Sept. 23, 2025. Kyle Grillot | Bloomberg | Getty Images
OpenAI officially wrapped up its restructuring into a nonprofit yesterday. The startup's nonprofit, now named the OpenAI Foundation, has a controlling stake worth around $130 billion in OpenAI's for-profit business, which is called OpenAI Group PBC. (PBC stands for public benefit corporation.) The buzzy AI startup also confirmed that longtime backer Microsoft holds an investment in the for-profit arm that amounts to $135 billion. As CNBC's Ashley Capoot notes, that's equivalent to about 27% of the company on an as-converted diluted basis. Microsoft is set to report earnings after the bell today, along with Big Tech peers Alphabet and Meta .
4. One month in
The U.S. Capitol building, weeks into the continuing U.S. government shutdown, in Washington on Oct. 27, 2025. Kylie Cooper | Reuters
The federal government shutdown is officially one month old — and Washington is feeling the heat. A group of more than two dozen states sued President Donald Trump's administration yesterday to maintain benefits tied to the Supplemental Nutrition Assistance Program, also known as SNAP, which provides food stamps. The Agriculture Department, which oversees SNAP, has said the benefits will end this weekend. A federal judge yesterday also extended a temporary ban on firing federal workers during the shutdown. Air traffic controller union officials meanwhile said some of their members have picked up second jobs to bring in money while they work without pay.
Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today.
5. Flight status
A Boeing 777X sign in the Boeing Co. booth at the Aircraft Interiors Expo (AIX) in Hamburg, Germany, on Tuesday, April 8, 2025. Bloomberg | Bloomberg | Getty Images
Shares of Boeing are slightly down in premarket trading this morning after the planemaker reported earnings for its third quarter. The company returned to cash-positive territory for the first time since 2023 but logged a $4.9 billion charge tied to delays of its 777X plane. Boeing — which has been plagued by manufacturing and supply chain issues, as well as the fallout of two crashes — is on track for its most deliveries since 2018. CEO Kelly Ortberg, who took Boeing's helm in 2024, said in a staff note that "there's still more work to do to advance our development programs" but "we're seeing positive signs across our business."
The Daily Dividend
The following chart shows how U.S. regional banks have fared since 2020. CNBC's Hugh Son talked to the activist investors targeting underperforming financial institutions.
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S&P Global
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https://www.cnbc.com/2025/10/29/blackrock-co-cio-jeff-shen-stays-upbeat-on-us-stocks-sees-opportunities-abroad.html?&qsearchterm=S
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Blackrock Co-CIO Jeff Shen stays upbeat on U.S. stocks, sees opportunities abroad
| 2025-10-29T00:00:00
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BlackRock's Jeff Shen, remains constructive on U.S. equities over the next six-to-12 months, but he said investors may find more compelling opportunities overseas as global markets play catch-up. "There's a fundamental capital expenditure story, given the excitement around artificial intelligence and the potential productivity growth coming from this investment," said Shen, co-chief investment officer and co-head of systematic equities at BlackRock, in an interview on the sidelines of the Sohn Investment conference in San Francisco. The S & P 500 has rebounded aggressively from its April lows to score consecutive record highs, bringing its 2025 gains to more than 17%. U.S. The powerful rally has been fueled by optimism over artificial intelligence and expectations for rate cuts, but questions have emerged over whether the advance can be sustained and if markets are entering a late stage of the cycle, with valuations stretched and growth momentum moderating. .SPX YTD mountain S & P 500 year to date Shen sees room for U.S. stocks to grind higher, citing supportive policy, a pickup in capital investment and signs of easing geopolitical tensions. Still, he noted that much of the good news may already be reflected in valuations in the U.S. "The market is pricing in a pretty accommodative financial condition on a forward-looking basis," he said. "Some of that optimism is probably already priced in, especially with U.S. assets." Shen pointed to international markets — from Europe to Asia — as potential beneficiaries of the global easing cycle and the broader AI-driven investment boom. "International markets may very well be a good place to take a close look," he said. "They could offer some of the more interesting opportunities ahead." Europe's Stoxx 600 is up 13.4% year to date. In Asia, the Shanghai Composite has jumped 19.8%, while the Nikkei 225 has soared 28.6%.
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S&P Global
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https://www.cnbc.com/video/2025/10/29/brookfield-ceo-on-80-billion-nuclear-deal-with-u-s-government.html?&qsearchterm=S
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Brookfield CEO on $80B nuclear deal with U.S. government
| 2025-10-29T00:00:00
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Brookfield CEO on $80B nuclear deal with U.S. government
Bruce Flatt, Brookfield CEO, joins 'Squawk on the Street' to discuss the company's latest nuclear deal with the U.S. government.
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S&P Global
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https://www.cnbc.com/2025/10/29/oil-rises-on-optimism-over-us-china-leaders-meeting.html?&qsearchterm=S
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Oil rises on large decline in U.S. stockpiles, U.S.-China trade optimism
| 2025-10-29T00:00:00
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Oil prices slipped on Tuesday, extending falls from the two previous sessions, as pressure from plans by OPEC to boost output offset optimism over a potential U.S.-China trade deal.
Oil prices rose on Wednesday after data showed U.S. crude and fuel inventories drew down more than expected last week, and as U.S. President Donald Trump's optimistic tone over upcoming talks with his Chinese counterpart helped ease economic jitters.
Brent crude futures were up 53 cents, or 0.8%, to $64.93 a barrel, while U.S. West Texas Intermediate crude futures gained 40 cents, or 0.7%, to $60.55.
U.S. crude oil, gasoline and distillate fuel stockpiles each fell more last week than analysts had expected, data from the U.S. Energy Information Administration showed on Wednesday. Crude oil stocks fell by nearly 7 million barrels, versus expectations of a meager 211,000-barrel drop, the data showed.
The big decline forced a reassessment of expectations that the oil market is headed for a large surplus, with the OPEC+ group raising output and U.S. production at record levels.
"Where's the glut?" Price Futures Group analyst Phil Flynn said after the report. "The longer the glut doesn't hit, the more we will question whether it exists," he said.
Trump predicted a good outcome from his talks with Chinese President Xi Jinping, which are scheduled to take place on Thursday at a summit in South Korea.
Also at that summit, the United States and South Korea finalized details of a fraught trade deal.
The optimistic note about U.S.-China talks and the deal with South Korea could help alleviate some concerns of a slump in economic activity from Trump's tariffs and trade wars, which have raised concerns around oil demand and weighed on commodity prices in recent months.
Brent and WTI last week registered their biggest weekly gains since June after Trump imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting major oil companies Lukoil and Rosneft.
Still, doubts that sanctions would offset oversupply and talk of another OPEC+ output increase pressured prices; both benchmarks fell 1.9%, or more than $1, in the previous session.
OPEC+, the world's largest group of oil-producing nations, is leaning towards a modest output boost in December, four sources familiar with the talks said, with two sources citing an additional 137,000 bpd.
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S&P Global
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https://www.cnbc.com/video/2025/10/29/ecp-executive-chairman-u-s-has-big-energy-advantage-over-europe.html?&qsearchterm=S
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ECP Executive Chairman: U.S. has big energy advantage over Europe
| 2025-10-29T00:00:00
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ECP Executive Chairman: U.S. has big energy advantage over Europe
Energy Capital Partners founder and Executive Chairman Doug Kimmelman speaks to CNBC's Dan Murphy at the FII summit in Riyadh, giving his take on the outlook for European energy and renewables.
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S&P Global
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https://www.cnbc.com/2025/10/29/china-buys-three-us-soybean-cargoes-ahead-of-trump-xi-meeting-reuters-reports.html?&qsearchterm=S
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China buys three U.S. soybean cargoes ahead of Trump-Xi meeting, Reuters reports
| 2025-10-29T00:00:00
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China's state-owned COFCO bought three U.S. soybean cargoes this week, two trade sources said.
China's state-owned COFCO bought three U.S. soybean cargoes this week, two trade sources said, the country's first purchases from this year's U.S. harvest ahead of this week's summit of leaders Donald Trump and Xi Jinping.
COFCO purchased about 180,000 metric tons of soybeans for December and January shipment through Pacific Northwest port terminals, the sources said.
COFCO did not immediately respond to a Reuters request for comment.
Benchmark Chicago soybean futures prices jumped this week to their highest in 15 months, rebounding from recent five-year lows on hopes for a U.S.-China trade deal.
China, the world's biggest soy importer, shunned soybeans from the autumn U.S. harvest, switching its demand to South American suppliers amid trade conflict with Washington.
The unusual delay has already cost U.S. farmers billions of dollars in lost sales, after they largely supported Trump in his campaigns for president.
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S&P Global
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https://www.cnbc.com/2025/10/28/israel-strikes-gaza-after-accusing-hamas-of-violating-us-brokered-ceasefire.html?&qsearchterm=S
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Israel strikes Gaza after accusing Hamas of violating U.S.-brokered ceasefire
| 2025-10-28T00:00:00
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Palestinians try to clear the remains of buildings destroyed by Israeli attacks with limited resources i Khan Yunis, Gaza on Oct. 28, 2025.
Israeli planes launched strikes in Gaza on Tuesday after Israel accused the militant group Hamas of violating a ceasefire in the Palestinian territory, the latest test of a fragile deal brokered earlier this month by U.S. President Donald Trump.
Local health authorities said the strikes killed at least 26 people, including five in a house hit in the Bureij refugee camp in the central Gaza Strip, four in a building in Gaza City's Sabra neighbourhood, and five in a car in Khan Younis. The attacks by Israeli planes continued into early Wednesday across the Gaza Strip, according to witnesses.
The Israeli military did not immediately comment on the strikes, the latest violence in a three-week-old ceasefire and which followed a statement by Prime Minister Benjamin Netanyahu's office saying he had ordered immediate "powerful attacks."
The statement did not give a specific reason for the attacks but an Israeli military official said Hamas had violated the ceasefire by carrying out an attack against Israeli forces in an area of the enclave that is under Israeli control.
"This is yet another blatant violation of the ceasefire," the official said.
The U.S.-backed ceasefire agreement went into effect on October 10, halting two years of war triggered by deadly Hamas-led attacks on Israel on October 7, 2023.
Both sides have accused each other of ceasefire violations.
U.S. Vice President JD Vance, part of a parade of Trump administration officials who visited Israel last week, said that despite the latest flare-up, "the ceasefire is holding."
"That doesn't mean that there aren't going to be little skirmishes here and there," he told reporters on Capitol Hill. "We know that Hamas or somebody else within Gaza attacked an (Israeli) soldier. We expect the Israelis are going to respond, but I think the president's peace is going to hold despite that."
Earlier on Tuesday, Israeli media reported an exchange of fire between Israeli forces and Hamas fighters in the southern Gaza city of Rafah. The Israeli military did not respond to a request for comment on the reports.
Hamas denied responsibility for an attack on Israeli forces in Rafah. The group also said in a statement that it remained committed to the ceasefire deal in Gaza.
Tuesday's strikes on Gaza City followed what Israel called a "targeted strike" on Saturday on a person in central Gaza who it said was planning to attack Israeli troops.
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S&P Global
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https://www.cnbc.com/video/2025/10/28/u-s-india-trade-talk-troubles-heres-what-you-need-to-know.html?&qsearchterm=S
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U.S.-India trade talk troubles: Here's what you need to know
| 2025-10-28T00:00:00
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U.S.-India trade talk troubles: Here's what you need to know
CNBC's Seema Mody reports on the delayed trade talks between India and China.
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S&P Global
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https://www.cnbc.com/2025/10/28/us-military-to-sign-ndas-tied-to-latin-america-mission-reuters.html?&qsearchterm=S
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U.S. military officials required to sign NDAs tied to Latin America mission: Reuters
| 2025-10-28T00:00:00
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U.S. military officials involved with President Donald Trump's expanding operations in Latin America have been asked to sign non-disclosure agreements, three U.S. officials say, a development that raises new questions about a military buildup that Venezuela fears may lead to an invasion.
The step is highly unusual, given that U.S. military officials are already required to shield national security secrets from public view, and comes as lawmakers in Congress say they are being kept in the dark about key aspects of the mission.
The officials who spoke to Reuters on condition of anonymity did not know how many members of the U.S. Defense Department had been asked to sign the agreements and did not offer further details on the scope of the NDAs.
While the Defense Department has turned to NDAs from time to time since Pete Hegseth became defense secretary in January, the Pentagon's use of non-disclosure agreements specific to activities in Latin America has not been previously reported. The Pentagon announced last week the deployment of the Gerald Ford aircraft carrier group to Latin America, escalating a military buildup that experts say far exceeds any requirement for counter-narcotics operations -- the stated intent of the U.S. mission so far. The U.S. military has carried out at least 13 strikes against alleged drug vessels, mostly in the Caribbean, since early September, killing about 57 people. The Pentagon has provided few details about the people targeted but has acknowledged some of them include people from Venezuela, Colombia and Ecuador.
The carrier strike group adds another roughly 10,000 troops and enormous firepower to a buildup that already includes guided missile destroyers, F-35 fighter jets, a nuclear submarine and around 6,500 troops.
The Pentagon has not explained why such firepower is required for the counter-narcotics operations.
Hegseth has taken a series of steps to try to control the flow of information since taking over the Pentagon in January. He told Pentagon staff they must obtain permission before interacting with members of Congress, according to an Oct. 15 memo. He has also launched leak investigations and demanded Pentagon-based journalists sign a new press access policy, taking away the credentials of those who did not.
The Pentagon did not immediately respond to a request for comment.
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S&P Global
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https://www.cnbc.com/2025/10/28/esg-climate-investing-market-china-india-mideast-long-term-winners.html?&qsearchterm=S
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Beyond U.S. ESG retreat, trillions is being invested in the world's long-term winners, says climate banker
| 2025-10-28T00:00:00
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When Marisa Drew, chief sustainability officer of Standard Chartered, first decided to leave a successful investment banking career to focus on sustainability, her friends and colleagues were skeptical.
"There were all the little cynical quips," Drew told CNBC's Julia Boorstin in the latest episode of the "CNBC Changemakers and Power Players" podcast. "But what was interesting about it was most people, since they had seen me go through the very traditional side of the business and they knew who I was as a person and how I was driven to try to really deliver value for the organization, even if they were cynical, they were curious."
Attracted by the opportunity to disrupt existing industries and move banks into the future, Drew dove into the chief sustainability officer role, first at Credit Suisse and then moving to Standard Chartered in mid-2022. The timing has been good, she says, with a younger generation of clients looking for new ways to invest.
"It was captivating all sorts of stakeholders," Drew said. "You had the next generation in our wealth business that were saying, and they were very emotional about it, 'When I receive the family wealth, I want to invest it for positive outcomes.'"
In spite of growing pushback against ESG investing in the U.S. — and a strategic shift in climate policy from one of the world's richest backers of the sector, Bill Gates, which he explained in a CNBC interview on Tuesday — Drew believes that the industries of the future will have sustainability at their heart and the market represents a massive and growing opportunity.
"These systemic problems aren't going to go away, they're getting bigger," she said. "Climate change is proliferating whether you believe it's man made or not. The effects are real, and they are creating enormous disruption to livelihoods, to financial and economic viability, in some cases to market health, to how we think about risk, and so we're going to have to tackle this."
Drew was named to the second annual CNBC Changemakers list in 2025.
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S&P Global
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https://www.cnbc.com/video/2025/10/28/pres-trump-reaffirms-u-s-japan-trade-ties-signs-minerals-deal-in-meeting-with-new-pm-takaichi.html?&qsearchterm=S
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Pres. Trump reaffirms U.S.-Japan trade ties, signs minerals deal in meeting with new PM Takaichi
| 2025-10-28T00:00:00
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Amphenol
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https://www.cnbc.com/2025/10/28/were-raising-our-corning-price-target-after-a-shortsighted-post-earnings-decline.html?&qsearchterm=Amphenol
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We're raising our Corning price target after a shortsighted post-earnings decline
| 2025-10-28T00:00:00
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Shares of high-tech glass maker Corning dropped 2.5% on Tuesday after climbing more than 80% this year. Investors took profits after what were solid earnings. We weren't among them. In fact, we bought the pullback on Tuesday morning, shortly after underserved post-earnings weakness developed. Corning makes specialty glass for data center cables and screens for all kinds of digital devices. We're raising our price target on the stock to $95 per share from $93 and reiterating our buy-equivalent 1 rating. Here are the headline numbers from Corning's third quarter, which ended Sept. 30. Core revenue , which adjusts for factors such as currency fluctuations and on-time events, rose 14% year over year to $4.27 billion in the third quarter, topping expectations of $4.23 billion, according to market data service LSEG. Core earnings per share rose 24% to 67 cents during the three months ending Sept. 30, just exceeding EPS estimates of 66 cents, LSEG data showed. GLW YTD mountain Corning YTD Bottom line The quarter was strong. There were also signs of plenty of growth opportunities ahead. Both made us feel like the stock drop was a chance to bulk up our newest position. We love the data center business, and the company's expanded partnership with Apple for iPhone and Apple Watch glass. Last month, Jim Cramer got really bullish on Corning after he visited the Kentucky factory where the glass for Apple is made. Corning is two years into its Springboard turnaround initiative that has increased sales by 31%. Operating margins expanded by 330 basis points to 19.6%, leading to a 72% increase in earnings per share. Return on invested capital has also expanded by 460 basis points in that time. That's impressive. On the post-earnings conference call, CEO Wendell Weeks said that from the implementation of Springboard through the end of the third quarter, Corning has added $4 billion of incremental annualized sales. The team expects to add another $300 million to the annualized sales run rate in the current fourth quarter. Better yet, management expects to hit its 20% operating margin target in Q4, a full year ahead of schedule. Having already achieved the initial 2026 "high-confidence" target of $4 billion, Corning increased its internal incremental revenue target to $6 billion by the end of 2026, up from the $5 billion that was reiterated on the second quarter earnings release. Why we own it Corning makes different types of specialty glass, including fiber optic cables. Corning's fiber optics solutions provide a more efficient alternative to the copper wiring found in data centers. As companies look to "scale-up" and "scale-out," building larger, more complex data centers over time, we expect Corning to see its share in the data center increase over time. The company is also a huge supplier to Apple and makes the glass used in iPhones, Watches, and other Apple devices. Lastly, solar, is also proving to be a growth opportunity as Corning is uniquely positioned to enter the space thanks to its existing expertise in semiconductor polysilicon manufacturing. Competitors : Ciena , Amphenol , Lumentum , Thermo Fisher Scientific (in copper and life sciences) Most recent buy: Oct. 28, 2025 Initiated : Oct, 21, 2025 On the call, Weeks affirmed that the company "sees much more growth and more springs ahead," highlighting the company's $2.5 billion deal with Apple to produce 100% of iPhone and Apple Watch glass in the U.S. for the first time, right at the company's Harrodsburg, Kentucky, manufacturing facility. "This creates a significantly larger, longer-term spring for us in mobile consumer electronics," the CEO added. Corning is also benefitting from the adoption of generative artificial intelligence, which is helping to drive growth in the company's Optical Communications segment as enterprise customers look to scale out and scale up new infrastructure, such as data centers. Management sees the AI opportunity inside the data center, driving sales to a 30% compounded annual growth rate (CAGR) between 2023 and 2027. While that rate of growth was reiterated, enterprise sales grew much faster in Q3, up 58% from the year-ago period. Commentary Sales in Optical Communications in the third quarter increased 33% year over year, though did come up a bit shorter versus expectations. We aren't concerned, however, as the enterprise side of the business, which houses data center sales, grew significantly faster. Week explained the "scale-out" opportunity on the call. "That basically means that hyperscale customers are scaling out the GPU clusters with more and more connected AI nodes of server racks, or simply put, larger neural networks. Because each AI node is connected to the others in the cluster by fiber, this creates more volume for Corning," he said. Foreshadowing possible announcements in the future, Weeks added, referring to U.S. hyperscale customers looking to build out U.S. data centers with U.S. supply chains, "We're working to formalize customer agreements, so stay tuned." Weeks also highlighted the "scale-up" opportunity, as data center operators look to develop increasingly advanced AI nodes. Without getting too technical, Weeks said, "A single Blackwell-like node has more than 70 GPUs, with more than 1,200 links using more than 2 miles of copper. As that node scales up, those 2 two miles will eventually be replaced by fiber connections, and those miles will grow over time as more and more GPUs are included in the AI node." Taken together, Corning's growth opportunity in the data center not only comes from the build-out of more data centers but also from the eventual need to start replacing copper connections with the fiber connections that Corning is a leader in developing. "If we succeed technically, the scale-up opportunity could be two to three times the size of our existing enterprise business," Weeks said. On the data center interconnect front, the carrier side of Optical Communications, Weeks said the company is seeing a "tremendous response" to the introduction of its high density GenAI fiber and cable system, which "enables customers to fit anywhere from 2 to 4 times the amount of fiber into their existing conduit," and expects this business to scale quickly and reach a $1 billion opportunity for the company by the end of the decade. Microsoft is already working with Corning to upgrade the performance and reliability of its Azure cloud and AI services. In the Display segment, which largely makes glass for LCD televisions, notebook computers, and flat panel desktop monitors, sales fell 7.5% year over year, though did increase 5% sequentially and outpace expectations. On the release, management noted that they expect the segment's net income to come in at the high end of their $900 million to $950 million guidance range, with an income profit margin of at least 25% for the year. In Specialty Materials , sales grew 13% year over year. On the call, CFO Edward Schlesinger said, "Our announcement with Apple creates a larger, longer-term growth driver in mobile consumer electronics through the Springboard [turnaround initiative] and beyond." Automotive sales increase 6% year over year, "primarily driven by a stronger light-duty vehicle market in China, partially offset by lower heavy-duty diesel sales in North America." The automotive group makes filter materials that reduce gasoline emissions. Life Sciences sales were relatively in line with the prior year period, though management did manage to expand margins and drive 7% year-over-year growth in segment net income. On the release, the team noted that they see "new opportunities for innovation in advanced 3D cell culture and cell therapy." This segment makes products for laboratories. Hemlock and Emerging Growth Businesses segment sales were up nearly 46% for the quarter. Hemlock Semiconductor is the main business, which makes a key material needed in the production of silicon wafers, the foundation of computer chips, and solar panels and cells. Solar is an area that management has been working to grow for some time now. On the call, Weeks said, "First, solar power is fundamentally about the efficient use of photons and low-cost materials conversion platforms. Both are key opportunities for innovation that are right in our wheelhouse. Second, we are already a world leader in semiconductor polysilicon, which is simply a much purer form of the fundamental material used in solar." Corning has already sold out of polysilicon and wafer capacity in 2025 and has more than 80% of capacity for the next five years, already committed. Solar sales were about $200 million in the first quarter of this year, and management sees that expanding to a $2.5 billion revenue run rate business by the end of 2028. Guidance For the current quarter, Corning management expects $4.35 billion in sales, adding $300 million to the company's annualized sales run rate. That's better than the LSEG consensus estimate of $4.26 billion. Core earnings are expected to be in the range of 68 to 72 cents per share, ahead of the 67-cent consensus estimate compiled by LSEG. (Jim Cramer's Charitable Trust is long GLW, AAPL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Accenture
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https://www.cnbc.com/video/2025/10/27/accenture-massive-ai-investment-gap-in-the-global-south.html?&qsearchterm=Accenture
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Accenture: Massive AI investment gap in the Global South
| 2025-10-27T00:00:00
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Accenture: Massive AI investment gap in the Global South
Ramez Shehadi, global public sector strategy lead from Accenture speaks to CNBC's Dan Murphy about the AI investment gap live from the Future Investment Initiative in Riyadh.
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Honeywell
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https://www.cnbc.com/2025/10/27/rbc-upgrades-honeywell-ahead-of-planned-2026-breakup.html?&qsearchterm=Honeywell
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RBC upgrades Honeywell ahead of planned 2026 breakup
| 2025-10-27T00:00:00
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RBC Capital Markets sees a "catalyst-rich" path ahead for Honeywell International. The bank upgraded shares of the industrial conglomerate to an outperform rating from sector perform. Analyst Deane Dray also lifted his price target to $253 per share from $235, implying an upside of 17% from here. Shares of Honeywell have slipped 4% this year. HON YTD mountain HON YTD chart Dray's upgrade comes after Honeywell reported quarterly results last week that exceeded analysts' expectations. The company earned an adjusted $2.82 per share on revenue of $10.41 billion, while analysts polled by LSEG had expected earnings of $2.57 per share and $10.14 billion in revenue. The analyst applauded this solid quarter and highlighted that it marks the start of a catalyst-rich period ahead of Honeywell's planned separation of its aerospace segment in the second half of 2026. Dray also pointed to previous industrial breakups, which he said have ultimately benefited the companies. The analyst added that Honeywell's current valuation could be an attractive entry point heading into a separation. "Looking at comparable industrial 'urge-to-demerge' stories, we have seen Honeywell's peers like GE, United Technologies, Danaher, and Ingersoll-Rand unlock values through portfolio simplification," he wrote. "While we are arguably some time away from the planned 2H26 Aero/Automation separation, Honeywell's improving financials showcase a strong momentum and execution heading into the breakup that we believe are presenting favorable risk/reward." Dray also highlighted Honeywell's strong and enduring core businesses, which subsiding headwinds from here should allow the market to focus better on. "We see growing momentum across core segments, improved visibility on execution, and a credible roadmap toward value unlock," the analyst wrote. "With management executing well, separation milestones approaching, and 'deal purgatory' perceptions fading, we believe investor focus will shift to the structural upside embedded in two strong standalone franchises positioned for sustainable growth and margin expansion." ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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Honeywell
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https://www.cnbc.com/2025/10/27/cramer-is-worried-about-broadcoms-stock-action-plus-honeywells-upgrade.html?&qsearchterm=Honeywell
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Cramer is worried about the trading in some chip stocks, plus a Honeywell upgrade
| 2025-10-27T00:00:00
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Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Monday's key moments. 1. Stocks moved higher Monday, with all three indexes again touching fresh record intra-day highs due to easing trade tensions between the United States and China. But for Jim Cramer, a handful of mergers and acquisition deals announced today isn't to be ignored. "Altogether, they say buy Goldman Sachs, " said Jim, as the high transaction frequency is good news for the bank. As far as trade, Jim said, " Nvidia would be a big winner [today] if there was real good trade talk." Jim is frustrated with the government-imposed restrictions on chip exports. Meanwhile, the S & P 500 Oscillator is officially in overbought territory. We trimmed industrial stock Eaton on Friday and sold some of our Danaher position this morning. 2. Honeywell was upgraded by RBC to a buy-equivalent rating from neutral. Analysts cited strong third-quarter earnings that "reinforced confidence in execution" across its divisions. RBC compared Honeywell to GE, which also saw its value rise following a three-way split. Honeywell's Advanced Materials spin off company, Solstice, begins trading on Thursday. The Club will own a small position but would "rather buy a little bit more of the parent Honeywell" for more exposure to aerospace, said Jeff Marks, director of portfolio analysis for the Club. 3. Broadcom shares are higher after a price target increase to $475 from $415 at Melius. In a note to clients, analysts said that Google's TPU, made by Broadcom, has become a serious competitor for Nvidia's GPU. Software name Anthropic was the mystery company that made a $10 billion deal with Broadcom to use these TPUs, a win for both Google and Broadcom. Despite Broadcom shares being up on Monday, Jim said he's not a fan of the trading action exhibited in some corners of the chip market right now. "This is a very 1999, 2000 pattern. You'd have something that was up big. There'd be a hot stock and then you pour the money into that," said Jim. "I don't like this pattern." 4. Stocks covered in Monday's rapid fire at the end of the video were: Five Below , Berkshire Hathaway, Booking Holdings , Novartis , and Keurig Dr Pepper. (Jim Cramer's Charitable Trust is long AVGO, DHR, ETN, GS, HON, NVDA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Honeywell
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https://www.cnbc.com/video/2025/10/27/crameras-stop-trading-honeywell.html?&qsearchterm=Honeywell
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Cramer’s Stop Trading: Honeywell
| 2025-10-27T00:00:00
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In this video
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Cramer’s Stop Trading: Honeywell
CNBC’s Jim Cramer explains why he is keeping an eye on shares of Honeywell.
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Honeywell
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https://www.cnbc.com/2025/10/27/monday-analyst-calls-with-stocks-like-nvidia.html?&qsearchterm=Honeywell
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Here are Monday's biggest analyst calls: Nvidia, Microsoft, Berkshire, Apple, Tesla, Honeywell & more
| 2025-10-27T00:00:00
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Here are the biggest calls on Wall Street on Monday: Wells Fargo reiterates Bank of America as overweight The firm raised its price target on the stock. "We expect BAC to post a new 16%-18% ROTCE target at its Nov. 5 investor day on expectations that it can better monetize its unique franchise. Increase PT from $60 to $62 post 3Q25 earnings when we increased ests." Bank of America upgrades Doximity to buy from neutral The firm says it's bullish on the social platform for physicians. "We are upgrading shares of Doximity (the prominent online platform for physicians where top 20 pharma advertises) from Neutral to Buy..." Mizuho reiterates Nvidia and Broadcom as outperform Mizuho called both stocks "best positioned." "We believe NVDA and AVGO remain best-positioned with leadership in the AI Datacenter..." Bank of America initiates CYD as buy Bank of America says the powertrain company is a share gainer. "We initiate Yuchai, one of China's leading ICE manufacturers, at Buy rating and PO of USD46 (24% upside potential)." JPMorgan reiterates Alphabet as overweight JPMorgan raised its price target on the stock to $300 per share from $260. " Google is the 2nd best performing Mag 7 name YTD—up 37% YTD and 80% from the April lows (compared to the SPX +15% and +36%)—and our recent discussions with investors frequently focus on what's next following the big run." Citi reiterates Micron as buy Citi says it sees rising AI demand for the stock. "We raise our already above-Consensus estimates and price target from $240.00 to $275.00 and maintain our Buy rating on MU." KBW reiterates Berkshire Hathaway to underperform from market perform KBW says things are "not moving in the right direction for Berkshire. "We lower our rating on BRK.A' s shares to Underperform from Market Perform and our target price to $700,000 from $740,000." Baird initiates SailPoint as outperform Baird says shares of the identity security company have plenty more room to run. "We initiate coverage on SailPoint with an Outperform rating. As identity threats surge and machine/agent entities proliferate, SailPoint's governance first identity platform is increasingly mission-critical." Baird initiates Commvault as outperform Baird says the software company is best positioned. "We initiate coverage on Commvault with an Outperform rating. In a world of rising ransomware and hybrid, multi-cloud complexity, Commvault's evolution from legacy backup to full-stack data resilience is well-timed." Goldman Sachs initiates Neptune Insurance as buy Goldman called the insurance company a "unique asset." "We initiate coverage on Neptune (NP) shares with a Buy rating and a 12-month target price of $30, reflecting a 20% total return opportunity." RBC upgrades Honeywell to outperform from sector perform RBC says it sees "growing momentum." "We are upgrading Honeywell from Sector Perform to Outperform following a solid 3Q25 that, in our view, marks the start of the breakup catalyst-rich phase heading into the planned 2H26 separation of Aero/ Automation." See here for more on the call. Raymond James upgrades Terex to outperform from market perform Raymond James says the machinery company is attractive. "We are upgrading TEX to Outperform on outsized risk-adjusted upside potential, with ~25% total return potential to our $70 price target." Morgan Stanley downgrades Harley-Davidson to equal weight from overweight and upgrades Life Time Group Holdings to overweight from equal weight The firm says it sees too many negative catalysts for Harley. The firm also upgraded Life Time Group Holdings to overweight citing "reaccelerating club growth." Guggenheim upgrades Microsoft to buy from neutral Guggenheim upgraded the stock ahead of earnings later this week and says it's well positioned for AI. "We are upgrading the shares of MSFT to Buy from Neutral and introducing a Price Target of $586, representing 12% upside from current levels." Read more. JPMorgan reiterates Apple as overweight JPMorgan raised its price target on the stock to $290 per share from $280. " AAPL shares are heading into the upcoming earnings print with a greater halo of positivity than any time in the past year with the discussion around the investment thesis narrowing down to outcomes on iPhone sales for the iPhone 17 series, and following it, the iPhone 18 series to be launched next year." UBS initiates Fermi as buy UBS says the power generation company is an AI power play. "We are initiating coverage of FRMI with a Buy rating and $30 price target." JPMorgan upgrades Five Below to overweight from neutral JPMorgan says the risk/reward is too attractive to ignore for the discount retailer. "Upgrading FIVE to Overweight raising 3Q SSS [same-store sales] to +10.0% and EPS +72% above Consensus noting +20-30bps of incremental operating leverage per comp point of upside and risk/ reward of $161 by $227." Read more. Morgan Stanley initiates Chef's Warehouse as overweight The firm says the food company is well positioned. "Specialty/higher end food distributor CHEF has a good history of top line growth and occupies an attractive corner of a large market, with further room for organic/inorganic expansion." RBC initiates Array Digital Infrastructure as outperform RBC says it's bullish on shares of the tower company. "We initiate coverage of Array Digital Infrastructure with an Outperform rating and $62 price target." Goldman Sachs reinstates DoorDash as buy Goldman reinstated coverage of the stock and says it sees a slew of positive catalysts. "With the close of the Deliveroo acquisition, we reinstate a rating on DoorDash (DASH) at Buy, with a $315 12-month price target." Wells Fargo upgrades Glaukos to overweight from equal weight Wells said in its upgrade of Glaukos that the ophthalmology company is attrative. "We see material upside potential coupled w/ an attractive valuation. Upgrading to OW and PT to $120 (from $92 prior)." Truist upgrades Booking Holdings to buy from neutral Truist says the secular downside risk fears are overdone. "We are upgrading BKNG to Buy from Hold driven by Asia's long-term travel outlook, steady global GDP growth, more attractive valuation, and arguably too much near-term investor concern on secular downside risks from emerging AI platforms..." Stephens upgrades Mister Car Wash to overweight from equal weight Stephens says buy the dip in the car wash company. "We upgrade MCW to OW (from EW) and adjust our PT to $6.25 (was $7.50)." Citi initiates Anglogold Ashanti as buy Citi says the mining company is a beneficiary of rising gold prices. "AU /AGL is well-placed to benefit from higher gold prices: every 10% change in gold price assumption could mean a delta of 23% EBITDA ('26e), 30% FCF ('26e), and 30% in NAV, on our estimates." Truist initiates Amer Sports as buy Truist says the sporting goods company has a differentiated offering. " Amer Sports owns several brands – notably (1) Arc'teryx (highly technical outdoor/mountain apparel), (2) Salomon (outdoor footwear with performance heritage and growing lifestyle traction), & (3) Wilson (sports equipment)." Morgan Stanley reiterates Tesla as overweight Morgan Stanley says Tesla's recent earnings report had several "show-stoppers." "I'm callin' it. Autonomous cars are solved. When I say solved, do I mean six or seven 9's to the right of the decimal? No. Perfection? Never. But enough to pull the safety driver at scale in major metros. It's a James Watt moment that changes transportation forever. Tesla's 3Q results included 3 'show-stoppers' that seemed to go largely under the radar..."
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Welltower
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https://www.cnbc.com/2025/10/26/here-are-the-3-big-things-were-watching-in-the-stock-market-this-week.html?&qsearchterm=Welltower
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Here are the 3 big things we're watching in the stock market this week
| 2025-10-26T00:00:00
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A strong start to the third-quarter earnings season has propelled the stock market back to record highs. Investors are hoping an even busier week of corporate reports — oh, and a Fed meeting — can keep the good times rolling. A wild card: President Donald Trump is in Asia for some high-stakes diplomacy. The S & P 500 's record close Friday, its first since Oct. 8, came despite a lingering government shutdown that has created an economic data vacuum — Friday's softer-than-expected inflation report notwithstanding — and rekindled trade tensions. While investors will keep an eye on shutdown negotiations in the week ahead, the deluge of earnings will dominate the conversation on Wall Street. Nearly a third of the Club's portfolio will be among those reporting, so we'll have our hands full. Another tall task will be monitoring the headlines out of Trump's trip to Asia, where he's expected to hold a face-to-face meeting with Chinese President Xi Jinping. 1. Earnings: Here's what we're expecting from the 10 Club holdings reporting this week. All estimates for revenue and earnings per share are as of Friday and sourced from financial data provider LSEG. Corning: The maker of fiber optic cables and iPhone screen glass kicks off the jam-packed week of earnings Tuesday morning. When we started the position in Corning last week, we intentionally kept it on the small side ahead of the quarter — even though we do expect to see a strong set of results. The crux of our thesis is that Corning's optical communication enterprise business is a big winner in the AI data center buildout, so that's an important box to check this quarter. We'll also pay close attention to the results of and commentary around its specialty materials segment, home to its iPhone business, as a potential read-through to iPhone 17 demand. Analysts are looking for earnings of 66 cents per share on revenue of $4.23 billion. Boeing : When the aircraft maker reports Wednesday morning, delivery rates will be a key watch item, particularly for the 787 wide-body model and the narrow-body 737 Max, the latter of which the Federal Aviation Administration recently allowed Boeing to increase production to 42 per month. A ramp in cash flow in the coming years is the real question for investors, but delivery rates will influence the timing of that ramp. On the other hand, we are anticipating a multibillion-dollar charge for its 777x program. However, the Street is aware of this and, as a result, it should be baked into the estimates. For example, analysts at JPMorgan are estimating that the charge will be about $4 billion. Accordingly, the consensus is for a loss of $5.15 per share on revenue of $21.97 billion. On free cash flow, a highly influential metric for Boeing, analysts are expecting a negative $626 million. Starbucks : The coffee chain is still very much a turnaround story. The results were mixed last quarter, but as we noted in late July, we saw signs of stabilization and were encouraged that seven of its top 10 markets outside the U.S. were able to deliver positive same-store sales growth. We are looking for a slightly cleaner quarter this time around, though we understand comebacks like this can be messy. CEO Brian Niccol has said the second quarter was largely about figuring out what steps needed to be taken to get the company back on track for long-term success. As a result, we're interested to see what has been implemented since then. Also of interest will be commentary regarding how Starbucks can innovate and bring newness to its menu that draws in new customers. For example, we want to hear the initial response to Starbucks' recently launched protein initiative . Analysts are expecting Starbucks to report earnings of 57 cents per share on sales of $9.36 billion. Meta Platforms : While most are expecting strong topline results and solid user engagement, it's the cost side of the equation — both capital expenditures and operating expenses — that will garner investor focus and drive the stock reaction on Wednesday night. Up to this point, investors have largely been accepting of Meta 's immense AI spending, and CEO Mark Zuckerberg is clearly going to spend big on what he (and we) believe is possibly the most consequential technology of our lifetime. However, the return on all this spending is still something investors are on edge about. As a result, any discussion of increased spending — as the commentary on its Q2 call indicates we'll see next year — should be accompanied by a commentary on demand signals or efficiency gains the company is seeing that justify further investment. Lastly, though Meta wearables are too small to move the needle at the moment, we want to hear commentary on adoption trends because it may turn into a serious revenue generator over time, especially if Meta's more affordable Ray-Ban collaboration helps build brand loyalty among early adopters. The consensus is for earnings per share of $6.68 on revenue of $49.37 billion. Microsoft : As always, cloud unit Azure's growth will be key to the stock reaction for Microsoft . That's especially true given the amount of spending being done on AI infrastructure and clear signs that the spending doesn't appear ready to let up anytime soon. Azure grew 39% last quarter, and the company's guidance for the soon-to-be-reported quarter was 37% in constant currency. Regarding AI initiatives, we're interested to hear any updates regarding the company's relationship with OpenAI, following the memorandum of understanding signed by both companies in September. Don't forget: The initial stock move on Microsoft's release is always a knee-jerk reaction. The real move doesn't come until about 30 minutes into the conference call, when CFO Amy Hood provides guidance for the current quarter. Wall Street expects the tech giant to report earnings of $3.67 per share on revenue of $75.33 billion. Eli Lilly : The uptake of Lilly's blockbuster GLP-1s — Mounjaro for diabetes and Zepbound for obesity — will drive the share price reaction on Thursday morning. CVS's decision to exclude Zepbound from insurance coverage took effect at the start of the quarter Eli Lilly is about to report. Analysts at Deutsche Bank say "the brunt of Zepbound's exclusion from CVS's template plans has largely played out," but we're interested in what management has to say about the overall competitive dynamics in GLP-1s. Additionally, analysts will likely pepper management with questions about oral GLP-1 orforglipron, a potential driver of growth next year and beyond. Lastly, any commentary regarding Washington's efforts to cap the price of weight-loss drugs and lower the price of prescription drugs in general is welcome. The consensus is for earnings of $5.86 per share on revenue of $16.04 billion. Bristol Myers: Along with the headline results, we're focused on sales trends for the schizophrenia drug Cobenfy. The drug's upcoming late-stage trial readout on Alzheimer's psychosis is arguably even more important for long-term investors. The data is due by year-end, and it is the biggest near-term catalyst for the stock. After Cobenfy suffered a setback in a separate trial earlier this year, a successful one here could help improve sentiment. Wall Street is projecting Bristol Myers to report earnings of $1.54 per share on revenue of $11.82 billion. Amazon: AWS results are key following last quarter's results, when Amazon's public cloud offering reported slower growth than its main competitors, Microsoft and Google. While AWS is the biggest cloud by revenue, investors hoped to see more following the performance of rivals. Wall Street expects AWS growth of 18.1% in the third quarter, versus 17.5% in the June-ended period, according to FactSet. Are the workloads of AI startup Anthropic, whose largest backer is Amazon, helping stoke AWS growth? Investors are also now speculating that Anthropic is the fourth big customer working with Broadcom on custom chips. Anthropic's cloud deal with Google also figures to be a topic of conversation on the call. On the retail side, in addition to any commentary the company can provide on the consumer, we're interested to learn more about how management is implementing the use of robotics. The New York Times reported on this last week, and analysts at Morgan Stanley estimate Amazon's embrace of robotics could result in savings of $2 to $4 billion by 2027, with potentially much greater efficiency gains beyond that timeframe. Recall, CEO Andy Jassy did previously highlight the potential savings and workplace transformation resulting from the implementation of AI and robotics. The third leg of the Amazon growth stool right now is advertising, and the consensus is for 21% growth in the third quarter. On a companywide basis, the Street is expecting Amazon to deliver earnings of $1.58 per share on revenue of $177.72 billion. Apple: Demand for iPhone 17 is top of investors' minds, even if the reported quarter includes only about a week of sales. Expectations are not priced into the stock, which is still underperforming the broader S & P 500. Services revenue growth is also a key watch item because its high-margin profile has an outsized impact on overall earnings results. Lastly, any timeline for Apple's AI initiative is crucial to the longer-term story. Apple is expected to report earnings of $1.77 per share on revenue of $102.12 billion. Linde: Linde is one of those companies that doesn't get much news coverage, and it's way too high up in the supply chain to be exciting. But its standing as a leading supplier of industrial gases provides management with a 30,000-foot view of demand dynamics in various end markets across the globe. That includes more resilient consumer-oriented end markets, such as health care, food and beverage, and electronics, as well as more cyclical industrial end markets, such as manufacturing, chemicals and energy, and metals and mining. With its fingerprints all over the economy, we covet what Linde executives have to say about both the company's operations and the other industries in which we're invested. That's especially true against the backdrop of a government shutdown that starved the market of a host of economic data. Within the financials, we'll be looking for cash flow to rebound. We'll also be keeping an eye on the backlog as it provides insight into future growth. Lastly, while China isn't expected to show much improvement, we're curious if the team is seeing any rebound coming in 2026. The consensus is for earnings of $4.18 per share on revenue of $8.61 billion. 2. Federal Reserve: At its penultimate meeting of the year, the Fed on Wednesday afternoon is widely expected to deliver another quarter-point rate cut, which would bring its overnight lending rate down to the range of 3.75% to 4%. The market is also pricing in a near-certain cut at its December meeting, according to the CME Group's FedWatch tool . Friday's cooler-than-expected consumer inflation report didn't materially change the odds for this week's meeting, but for December, they went to 96% from 91%. While the stock market certainly will appreciate the Fed's cut, investors need to remember that the bond market has a mind of its own -- it will not always move in lockstep with the central bank. We saw that in September, when the Fed began its cutting cycle and the yield on the 10-year Treasury moved higher, just as it did a year ago. The good news this time around is that the 10-year Treasury yield has come back down to below 4%, south of where it was when the Fed cut last month. Additionally, given the lack of official government data during the shutdown, Fed Chair Jerome Powell's usual post-meeting conference call will take on another level of intrigue as the market looks for insights into where the central bank believes the economy has trended in the past few weeks. 3. Trade : Trump arrived in Malaysia over the weekend to kick off the longest overseas trip thus far in his second presidency. He's also scheduled to travel to Japan and South Korea, where he's expected to meet with China's Xi to talk trade on Thursday. With the recent pickup in U.S.-China tensions, the market will hope for a Trump-Xi meeting that puts the world's two largest economies back on better footing. Top of mind for investors: Will there be any updates on the flow out rare earth minerals out of China and the flow of American-designed semiconductors into China?"I think we have a really good chance of making a very comprehensive deal," Trump told reporters traveling with him on Air Force One, according to The Associated Press . "I want our farmers to be taken care of. And [Xi] wants things also." Week ahead Monday, October 27 Dallas Fed Index at 10:30 a.m. ET Before the bell: Keurig Dr Pepper (KDP), Bank of Marin Bancorp (BMRC), Carter's, Inc. (CRI) After the bell: Nucor Corp. (NUE), Rambus, Inc. (RMBS), Avis Budget Group, Inc. (CAR), WM (WM), Amkor Technology, Inc. (AMKR), NXP Semiconductors N.V. (NXPI), Whirlpool Corp. (WHR), Alexandria Real Estate Equities, Inc. (ARE), Cadence Design Systems, Inc. (CDNS), Crane Co. (CR), Bed Bath & Beyond, Inc. (BBBY), Brown & Brown Inc. (BRO), Welltower Inc. (WELL), Ameris Bancorp (ABCB), Arch Capital Group Ltd. (ACGL) Tuesday, October 28 S & P Cotality Case-Shiller Home Price Indices at 9 a.m. ET Richmond Fed Index at 10 a.m. ET The Conference Board's Consumer Confidence Survey at 10 a.m. ET Before the bell: Corning (GLW), Sherwin Williams (SHW), UnitedHealth Group, Inc. (UNH), SoFi (SOFI), PayPal (PYPL), United Parcel Service, Inc. (UPS), Celestica, Inc. (CLS), Carrier (CARR), D.R. Horton, Inc. (DHI), HSBC Holdings plc (HSBC), Royal Caribbean Cruises Ltd. (RCL), JetBlue Airways Corporation (JBLU), VF Corp. (VFC), Applied Industrial Technologies (AIT), Ares Capital Corp (ARCC), NextEra Energy Inc (NEE), Wayfair Inc. (W) After the bell: Enphase Energy Inc (ENPH), ONEOK Inc. (OKE), Bloom Energy Corporation (BE), Booking Holdings Inc. (BKNG), Seagate Technology plc (STX), Visa Inc (V), Electronic Arts Inc (EA), Meritage Homes Corporation (MTH), Cheesecake Factory (CAKE), Community Healthcare Trust Incorporated (CHCT), Caesars Entertainment, Inc. (CZR), Edison International, Inc. (EIX), Mondelez International Inc. (MDLZ) Wednesday, October 29 The Federal Reserve's interest rate decision at 2 p.m. ET Fed Chair Jerome Powell's post-meeting press conference at 2:30 p.m. ET Before the bell: Boeing Co. (BA), Otis (OTIS), Verizon Communications (VZ), GE Healthcare (GEHC), CVS Health (CVS), Fiserv, Inc. (FI), Centene Corporation (CNC), Caterpillar, Inc. (CAT), Etsy, Inc. (ETSY), Automatic Data Processing, Inc. (ADP), American Electric Power (AEP), Phillips 66 (PSX), Amarin Corporation plc (AMRN), Criteo S.A. (CRTO), Cognizant Technology Solutions Corp. (CTSH), Brinker International, Inc. (EAT), Garmin Ltd. (GRMN), GlaxoSmithKline plc (GSK), Chart Industries Inc. (GTLS), Kraft Heinz Company (KHC) After the bell: Starbucks Corp. (SBUX), Meta Platforms, Inc. (META), Microsoft Corp. (MSFT), Alphabet Inc. (GOOGL), Chipotle Mexican Grill Inc (CMG), Google (GOOG), Carvana Co. (CVNA), ServiceNow, Inc. (NOW), MercadoLibre Inc (MELI), Sprouts Farmers Market, Inc. (SFM), Agnico-Eagle Mines, Ltd (AEM), Green Brick Partners Inc. (GRBK), Coeur D'Alene Mines Corp. (CDE), Stem, Inc. (STEM), Align Technology, Inc. (ALGN), eBay, Inc. (EBAY) Thursday, October 30 Before the bell: Bristol Myers (BMY), Eli Lilly & Co. (LLY) , Mastercard (MA), Merck & Co., Inc. (MRK), Insmed, Inc. (INSM), Comcast Corp. (CMCSA), CommScope Holding Company, Inc. (COMM), Enterprise Products Partners L.P. (EPD), Blue Owl Capital Inc. (OWL), Roblox Corporation (RBLX), Advance Auto Parts Inc. (AAP), Baxter International, Inc. (BAX), Shake Shack Inc. (SHAK), Southern Company (SO) After the bell: Amazon.com, Inc. (AMZN), Apple, Inc. (AAPL), Coinbase Global, Inc. (COIN), Reddit, Inc. (RDDT), Western Digital Corp. (WDC), MicroStrategy, Inc. (MSTR), Rocket Companies, Inc. (RKT), Riot Platforms, Inc. (RIOT), Cloudflare, Inc. (NET), Roku Inc (ROKU), First Solar Inc (FSLR), Atlassian Corporation Plc (TEAM), Twilio, Inc. (TWLO), Gilead Sciences, Inc. (GILD) Friday, October 31 Chicago PMI at 9:45 a.m. ET Before the bell: Linde (LIN ), Exxon Mobil Corp. (XOM), Chevron Corporation (CVX), AbbVie Inc. (ABBV), Canadian National Railway Company (CNI), Charter Communications Inc. (CHTR), LyondellBasell Industries (LYB), AON Plc (AON), Cboe Global Markets, Inc. (CBOE), Church & Dwight Co., Inc. (CHD), Dominion Energy, Inc. (D) (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Starbucks
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https://www.cnbc.com/2025/10/29/starbucks-sbux-earnings-q4-2025.html?&qsearchterm=Starbucks
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Starbucks reports same-store sales growth for the first time in nearly two years
| 2025-10-29T00:00:00
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Starbucks on Wednesday reported that its quarterly same-store sales returned to growth for the first time in nearly two years, showing that its turnaround strategy is winning over lapsed customers.
The coffee chain's global same-store sales rose 1%, lifted by international markets. Its U.S. same-store sales were flat for the quarter but turned positive in September. Wall Street was projecting global same-store sales declines of 0.3% and a 0.9% decrease in U.S. same-store sales.
"We're a year into our 'Back to Starbucks' strategy, and it's clear that our turnaround is taking hold," CEO Brian Niccol said in a statement.
Domestic same-store sales turned positive in September, and the company has held onto that momentum through October, Niccol said on the company's conference call. However, CFO Cathy Smith cautioned analysts against cheering too soon.
"Turnarounds are difficult to forecast, and while we have good reason to believe that our U.S. company-operated [same-store sales] should build through the year, we also know that recoveries are not always linear," she said.
The company suspended its annual forecast a year ago, and it is not expecting to release a near- or long-term outlook until an investor day slated for late January.
Shares of Starbucks rose 2% in extended trading.
Here's what the company reported for the quarter ended Sept. 28 compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: 52 cents adjusted vs. 56 cents expected
52 cents adjusted vs. 56 cents expected Revenue: $9.57 billion vs. $9.35 billion expected
The coffee giant reported fiscal fourth-quarter net income attributable to Starbucks of $133.1 million, or 12 cents per share, down from $909.3 million, or 80 cents per share, a year earlier.
Excluding restructuring costs, litigation settlements and other items, Starbucks earned 52 cents per share. During the quarter, the company closed 627 locations and laid off roughly 900 nonretail employees as part of a restructuring plan.
In addition to the restructuring plan, Starbucks has been investing heavily in labor, including adding assistant store managers to many North American cafes. The added labor costs weighed on its operating margin this quarter.
Net sales rose 5% to $9.57 billion.
To revive U.S. sales, Starbucks has focused on improving the in-store experience for customers and cutting service times to under four minutes per order. More than 80% of company-operated locations have an average service time of four minutes or less, even as the chain saw a rise in traffic after it launched its fall menu, according to Niccol.
The company's marketing efforts have switched from promotions and limited-time items to highlighting its coffee and trendy innovation, like protein-packed cold foam.
The strategy has succeeded in winning back some U.S. customers. Smith said that the number of 90-day active Starbucks Rewards members grew 1% both quarter-over-quarter and year-over-year.
Outside Starbucks' home market, same-store sales increased 3%, fueled by a 6% jump in traffic.
In China, the company's second-largest market, same-store sales rose 2%, boosted by a 9% climb in traffic. Under pressure in the country from home-grown rivals with cheaper beverages, Starbucks has lowered prices on many of its iced drinks to bring back customers.
The company is also exploring selling a stake in its China business after years of sales declines in the competitive market. Niccol previously told CNBC's Jim Cramer that the company values the China business at more than $10 billion.
"On the strategic front, we have had very strong interest from multiple high quality partners, all of whom see significant value in the Starbucks brand and team," Niccol said on Wednesday. "We expect to retain a meaningful stake in Starbucks China and remain confident in the long term growth potential in the region."
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Starbucks
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https://www.cnbc.com/video/2025/10/28/starbucks-what-to-know-before-the-coffee-giants-q4-earnings.html?&qsearchterm=Starbucks
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Starbucks: What to know before the coffee giant's Q4 earnings
| 2025-10-28T00:00:00
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In this video
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Starbucks: What to know before the coffee giant's Q4 earnings
Jacob Aiken-Phillips, Melius Research analyst, joins 'Closing Bell Overtime' to discuss Starbucks as the coffee-chain giant reports its Q4 earnings on Wednesday.
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Newmont
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https://www.cnbc.com/video/2025/10/28/final-trades-southern-copper-rio-tinto-paypal-newmont.html?&qsearchterm=Newmont
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Final Trades: Southern Copper, Rio Tinto, PayPal, Newmont
| 2025-10-28T00:00:00
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In this video
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Final Trades: Southern Copper, Rio Tinto, PayPal, Newmont
CNBC’s 'Fast Money' team share their final trades of the day.
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Airbnb
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https://www.cnbc.com/2025/10/29/airbnb-ceo-brian-cheskys-advice-for-college-students-in-the-age-of-ai.html?&qsearchterm=Airbnb
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Airbnb CEO: The skills students should develop instead of worrying about AI—you'll 'always need' them
| 2025-10-29T00:00:00
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Many recent college graduates are struggling to get their foot in the door in the workforce, as economic uncertainty, a tight job market and growing AI adoption have many employers hitting the brakes on hiring, especially for entry-level roles.
College students worried about their career prospects in a workforce being transformed by AI should focus on developing skills that'll endure through such an upheaval, says Airbnb CEO Brian Chesky. He recently shared some advice for college students navigating this challenge today.
"People should study things they're interested in, and they should develop skills they'll always need," Chesky said in an interview with ABC News last week. "You're always going to need to learn how to solve problems. You're always going to need to learn to develop leadership skills in most positions, so start a club, do something. You're going to always need to learn to think critically and communicate very clearly."
While AI is poised to transform much of how we work, Chesky thinks "some things will never change."
"People are going to want connection, people are going to still want relationships. Leadership is still going to matter," he said.
How does he define a good leader? "A good manager communicates clearly. They have clear objectives. They're really, really organized."
In order to cultivate these leaders, Chesky said it's important companies keep hiring for entry-level roles, rather than replacing humans with AI in those positions. An analysis from workforce intelligence firm Revelio Labs found that entry-level job postings fell roughly 35% from January 2023 to June 2025.
"If no young people can get jobs then you have no one in the future to do the highly strategic, leadership positions," he said. "So we need to make room for people early in their careers, even if AI can kind of do the interns' work."
While AI models "can do a lot of lower level, more entry-level position jobs," they also "have trouble with a lot of novel thoughts" and "need to be told what to do every step of the way," he added.
CEOs like Meta's Mark Zuckerberg have said AI will be able to accomplish lower- to -mid-level staffers' work in the near future and hinted at AI's impact on their workforces long-term.
Amazon CEO Andy Jassy, for example, wrote in June that the company expects to "reduce our total corporate workforce as we get efficiency gains from using AI extensively." The company in October subsequently announced layoffs affecting 14,000 employees, citing AI "enabling companies to innovate much faster than ever before" and Amazon's conviction that it needs to be "organized more leanly, with fewer layers and more ownership."
In the end, trying to bet on what industries will be safest from AI disruption in the coming years is "a losing proposition," Chesky said. The way to navigate any workforce change from AI is to "just keep moving forward."
"I would use the AI tools, but I wouldn't try to predict where the world's going because all of our predictions have been wrong," he said. "Four years ago, no one was talking about AI. So it's hard to predict exactly where the world will be in five years. So I just think, try to learn the things you think will always be true regardless of technology, and just follow your curiosity."
Want to level up your AI skills? Sign up for Smarter by CNBC Make It's new online course, How To Use AI To Communicate Better At Work. Get specific prompts to optimize emails, memos and presentations for tone, context and audience.
Plus, sign up for CNBC Make It's newsletter to get tips and tricks for success at work, with money and in life, and request to join our exclusive community on LinkedIn to connect with experts and peers.
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Airbnb
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https://www.cnbc.com/2025/10/27/airbnb-wants-to-help-hosts-prevent-halloween-parties-.html?&qsearchterm=Airbnb
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Airbnb wants to prevent Halloween parties in the U.S. and Canada
| 2025-10-27T00:00:00
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Airbnb wants to block parties this spooky season.
The travel and home rental platform said Monday that it will utilize its anti-party technology this Halloween weekend. The tech factors in the length of a stay, the distance from a guest's location, property type and timing of a booking to block reservations deemed "higher risk."
"We lead the way in proactive measures to reduce the risk of unauthorized parties, and our heightened technology for Halloween is one important layer in a comprehensive suite of policies and tools to support hosts, guests and local communities, and promote responsible travel," the company wrote in a release.
This isn't the first time Airbnb has attempted to block parties during holidays.
Last year, the company said it prevented about 38,000 people in the U.S. and 6,300 in Canada from making bookings during Halloween weekend. The company has also used the tech during New Year's Eve and summer holidays like Memorial Day and the Fourth of July.
Airbnb said the rate of parties reported worldwide has dropped by 50% since it implemented a ban on parties and events in 2020 to curb the spread of Covid. The party ban became official in 2022.
The company cracked down on parties and implemented a number of new safety measures in 2019 in response to a deadly shooting at an Airbnb booking that left five dead.
Following the shooting, CEO Brian Chesky announced a ban on "party houses" in a post to the social media platform now known as X. At the time, Chesky said that the company was also cracking down on "abusive host and guest conduct."
Airbnb said accounts that break the no party policy will be suspended or banned from the platform. The company also said its offers features like a 24-hour safety line and noise sensor for hosts.
WATCH: Airbnb CEO Brian Chesky on new product updates, integrating AI and state of AI tech race
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Airbnb
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https://www.cnbc.com/2025/10/28/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=Airbnb
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Amazon layoffs, Qualcomm's AI chips, Airbnb cracks down on Halloween and more in Morning Squawk
| 2025-10-28T00:00:00
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Amazon logo on brick office building facade with windows, San Francisco, California, Aug. 29, 2025. Smith Collection | Gado | Archive Photos | Getty Images
This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Here are five key things investors need to know to start the trading day:
1. Amazon's cull
Amazon is laying off 14,000 workers in its latest round of corporate cuts, the company announced this morning. The layoffs are expected to be the biggest reduction in the company's history, CNBC's Annie Palmer reported yesterday. Nearly every business is expected to be impacted by the cuts, according to a person familiar with the matter. Beth Galetti, Amazon's senior vice president of people experience and technology, wrote in a blog post that the company needs to be "organized more leanly" and have fewer layers. Amazon is the second-largest private employer in the U.S. with upwards of 1.5 million employees. The 14,000 cuts announced this morning represent about 4% of its corporate and tech workforce. Amazon CEO Andy Jassy said earlier this year that the Washington-based company could shrink its workforce by embracing AI. The firm is part of a cohort of large-cap companies that have seen their AI-related productivity increase as the technology becomes mainstream.
2. Chips on the table
Budrul Chukrut | SOPA Images | Lightrocket | Getty Images
Qualcomm announced yesterday that it would release artificial intelligence accelerator chips. The initiative makes the company a new competitor for Nvidia and AMD , underscoring the growing market for equipment tied to AI data centers. Here's what to know: Qualcomm said that its AI200 and AI250 chips will debut in 2026 and 2027, respectively. The data center chips are based on AI parts already in Qualcomm's smartphone chips.
So far, Nvidia has dominated the AI chip industry, accounting for more than 90% of the graphics processing units, or GPUs, in the market.
Qualcomm CEO Cristiano Amon told CNBC's "Squawk Box" this morning that energy efficiency and lower operating costs differentiate his company's offerings.
Shares of Qualcomm surged 11% in yesterday's session, making it the stock's best day since April.
Qualcomm's gain helped drive the broader market to all-time highs yesterday, with the S&P 500 Follow live markets updates here.
3. Running a list
U.S. Treasury Secretary Scott Bessent speaks to reporters as U.S. President Donald Trump stands next to him aboard Air Force One en route to Tokyo, Japan, for the second stop on his Asia tour, Oct. 27, 2025. Evelyn Hockstein | Reuters
Treasury Secretary Scott Bessent confirmed there are five finalists left in the running to succeed Federal Reserve Chair Jerome Powell. On the list: Fed Governors Christopher Waller and Michelle Bowman, National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh and BlackRock's Rick Rieder. That's the same group of candidates CNBC reported earlier this month. President Donald Trump said he will likely announce his pick by the end of 2025. Meanwhile, the Federal Open Market Committee will kick off its two-day meeting today, with all eyes on its interest rate decision due tomorrow.
4. iBuyer
Roomba vacuums by iRobot are displayed at Best Buy store on January 19, 2024 in San Rafael, California. Justin Sullivan | Getty Images
Shares of iRobot tumbled more than 33% yesterday after the company warned in a securities filling that its search for a buyer has reached an impasse. The Roomba maker said negotiations with its last remaining bidder fell through following a "lengthy period of exclusive negotiations" last week. iRobot has been trying to find a buyer for its business since March. The company has been in a rough spot since Amazon dropped its acquisition bid last year.
Get Morning Squawk directly in your inbox CNBC's Morning Squawk recaps the biggest stories investors should know before the stock market opens, every weekday morning. Subscribe here to get access today.
5. Party crashers
Austin Andres and her son Quinn, 2, shop for pumpkins at Maple Acres Farm in Plymouth Meeting, Pa., Tuesday, Oct. 17, 2017. Matt Rourke | AP
If you're in the market for pumpkin carving materials or candy this Halloween season, you're likely in for some sticker shock. An analysis of retail pricing data shows these goods have seen jumps as big as 300% as tariffs raise costs for suppliers. Joe Ens, CEO of Pumpkin Masters parent Signature Brands, told CNBC he hopes shoppers will accept price increases to continue traditions like pumpkin decorating. The average consumer is expected to spend a record $114 tied to Halloween this year, according to the National Retail Federation. Meanwhile, Airbnb is hoping for a quiet Halloween weekend at its rental properties. The company said it will use anti-party technology to quell large gatherings held at bookings in the U.S. and Canada.
The Daily Dividend
In an exclusive interview with CNBC, Microsoft co-founder Bill Gates said climate change is "super important but has to be considered in terms of overall human welfare." In a letter published ahead of a U.N. climate summit next week, Gates wrote that too many resources are going toward the environment and that more money should go toward fighting poverty and disease.
watch now
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Aon
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https://www.cnbc.com/2025/10/26/here-are-the-3-big-things-were-watching-in-the-stock-market-this-week.html?&qsearchterm=Aon
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Here are the 3 big things we're watching in the stock market this week
| 2025-10-26T00:00:00
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A strong start to the third-quarter earnings season has propelled the stock market back to record highs. Investors are hoping an even busier week of corporate reports — oh, and a Fed meeting — can keep the good times rolling. A wild card: President Donald Trump is in Asia for some high-stakes diplomacy. The S & P 500 's record close Friday, its first since Oct. 8, came despite a lingering government shutdown that has created an economic data vacuum — Friday's softer-than-expected inflation report notwithstanding — and rekindled trade tensions. While investors will keep an eye on shutdown negotiations in the week ahead, the deluge of earnings will dominate the conversation on Wall Street. Nearly a third of the Club's portfolio will be among those reporting, so we'll have our hands full. Another tall task will be monitoring the headlines out of Trump's trip to Asia, where he's expected to hold a face-to-face meeting with Chinese President Xi Jinping. 1. Earnings: Here's what we're expecting from the 10 Club holdings reporting this week. All estimates for revenue and earnings per share are as of Friday and sourced from financial data provider LSEG. Corning: The maker of fiber optic cables and iPhone screen glass kicks off the jam-packed week of earnings Tuesday morning. When we started the position in Corning last week, we intentionally kept it on the small side ahead of the quarter — even though we do expect to see a strong set of results. The crux of our thesis is that Corning's optical communication enterprise business is a big winner in the AI data center buildout, so that's an important box to check this quarter. We'll also pay close attention to the results of and commentary around its specialty materials segment, home to its iPhone business, as a potential read-through to iPhone 17 demand. Analysts are looking for earnings of 66 cents per share on revenue of $4.23 billion. Boeing : When the aircraft maker reports Wednesday morning, delivery rates will be a key watch item, particularly for the 787 wide-body model and the narrow-body 737 Max, the latter of which the Federal Aviation Administration recently allowed Boeing to increase production to 42 per month. A ramp in cash flow in the coming years is the real question for investors, but delivery rates will influence the timing of that ramp. On the other hand, we are anticipating a multibillion-dollar charge for its 777x program. However, the Street is aware of this and, as a result, it should be baked into the estimates. For example, analysts at JPMorgan are estimating that the charge will be about $4 billion. Accordingly, the consensus is for a loss of $5.15 per share on revenue of $21.97 billion. On free cash flow, a highly influential metric for Boeing, analysts are expecting a negative $626 million. Starbucks : The coffee chain is still very much a turnaround story. The results were mixed last quarter, but as we noted in late July, we saw signs of stabilization and were encouraged that seven of its top 10 markets outside the U.S. were able to deliver positive same-store sales growth. We are looking for a slightly cleaner quarter this time around, though we understand comebacks like this can be messy. CEO Brian Niccol has said the second quarter was largely about figuring out what steps needed to be taken to get the company back on track for long-term success. As a result, we're interested to see what has been implemented since then. Also of interest will be commentary regarding how Starbucks can innovate and bring newness to its menu that draws in new customers. For example, we want to hear the initial response to Starbucks' recently launched protein initiative . Analysts are expecting Starbucks to report earnings of 57 cents per share on sales of $9.36 billion. Meta Platforms : While most are expecting strong topline results and solid user engagement, it's the cost side of the equation — both capital expenditures and operating expenses — that will garner investor focus and drive the stock reaction on Wednesday night. Up to this point, investors have largely been accepting of Meta 's immense AI spending, and CEO Mark Zuckerberg is clearly going to spend big on what he (and we) believe is possibly the most consequential technology of our lifetime. However, the return on all this spending is still something investors are on edge about. As a result, any discussion of increased spending — as the commentary on its Q2 call indicates we'll see next year — should be accompanied by a commentary on demand signals or efficiency gains the company is seeing that justify further investment. Lastly, though Meta wearables are too small to move the needle at the moment, we want to hear commentary on adoption trends because it may turn into a serious revenue generator over time, especially if Meta's more affordable Ray-Ban collaboration helps build brand loyalty among early adopters. The consensus is for earnings per share of $6.68 on revenue of $49.37 billion. Microsoft : As always, cloud unit Azure's growth will be key to the stock reaction for Microsoft . That's especially true given the amount of spending being done on AI infrastructure and clear signs that the spending doesn't appear ready to let up anytime soon. Azure grew 39% last quarter, and the company's guidance for the soon-to-be-reported quarter was 37% in constant currency. Regarding AI initiatives, we're interested to hear any updates regarding the company's relationship with OpenAI, following the memorandum of understanding signed by both companies in September. Don't forget: The initial stock move on Microsoft's release is always a knee-jerk reaction. The real move doesn't come until about 30 minutes into the conference call, when CFO Amy Hood provides guidance for the current quarter. Wall Street expects the tech giant to report earnings of $3.67 per share on revenue of $75.33 billion. Eli Lilly : The uptake of Lilly's blockbuster GLP-1s — Mounjaro for diabetes and Zepbound for obesity — will drive the share price reaction on Thursday morning. CVS's decision to exclude Zepbound from insurance coverage took effect at the start of the quarter Eli Lilly is about to report. Analysts at Deutsche Bank say "the brunt of Zepbound's exclusion from CVS's template plans has largely played out," but we're interested in what management has to say about the overall competitive dynamics in GLP-1s. Additionally, analysts will likely pepper management with questions about oral GLP-1 orforglipron, a potential driver of growth next year and beyond. Lastly, any commentary regarding Washington's efforts to cap the price of weight-loss drugs and lower the price of prescription drugs in general is welcome. The consensus is for earnings of $5.86 per share on revenue of $16.04 billion. Bristol Myers: Along with the headline results, we're focused on sales trends for the schizophrenia drug Cobenfy. The drug's upcoming late-stage trial readout on Alzheimer's psychosis is arguably even more important for long-term investors. The data is due by year-end, and it is the biggest near-term catalyst for the stock. After Cobenfy suffered a setback in a separate trial earlier this year, a successful one here could help improve sentiment. Wall Street is projecting Bristol Myers to report earnings of $1.54 per share on revenue of $11.82 billion. Amazon: AWS results are key following last quarter's results, when Amazon's public cloud offering reported slower growth than its main competitors, Microsoft and Google. While AWS is the biggest cloud by revenue, investors hoped to see more following the performance of rivals. Wall Street expects AWS growth of 18.1% in the third quarter, versus 17.5% in the June-ended period, according to FactSet. Are the workloads of AI startup Anthropic, whose largest backer is Amazon, helping stoke AWS growth? Investors are also now speculating that Anthropic is the fourth big customer working with Broadcom on custom chips. Anthropic's cloud deal with Google also figures to be a topic of conversation on the call. On the retail side, in addition to any commentary the company can provide on the consumer, we're interested to learn more about how management is implementing the use of robotics. The New York Times reported on this last week, and analysts at Morgan Stanley estimate Amazon's embrace of robotics could result in savings of $2 to $4 billion by 2027, with potentially much greater efficiency gains beyond that timeframe. Recall, CEO Andy Jassy did previously highlight the potential savings and workplace transformation resulting from the implementation of AI and robotics. The third leg of the Amazon growth stool right now is advertising, and the consensus is for 21% growth in the third quarter. On a companywide basis, the Street is expecting Amazon to deliver earnings of $1.58 per share on revenue of $177.72 billion. Apple: Demand for iPhone 17 is top of investors' minds, even if the reported quarter includes only about a week of sales. Expectations are not priced into the stock, which is still underperforming the broader S & P 500. Services revenue growth is also a key watch item because its high-margin profile has an outsized impact on overall earnings results. Lastly, any timeline for Apple's AI initiative is crucial to the longer-term story. Apple is expected to report earnings of $1.77 per share on revenue of $102.12 billion. Linde: Linde is one of those companies that doesn't get much news coverage, and it's way too high up in the supply chain to be exciting. But its standing as a leading supplier of industrial gases provides management with a 30,000-foot view of demand dynamics in various end markets across the globe. That includes more resilient consumer-oriented end markets, such as health care, food and beverage, and electronics, as well as more cyclical industrial end markets, such as manufacturing, chemicals and energy, and metals and mining. With its fingerprints all over the economy, we covet what Linde executives have to say about both the company's operations and the other industries in which we're invested. That's especially true against the backdrop of a government shutdown that starved the market of a host of economic data. Within the financials, we'll be looking for cash flow to rebound. We'll also be keeping an eye on the backlog as it provides insight into future growth. Lastly, while China isn't expected to show much improvement, we're curious if the team is seeing any rebound coming in 2026. The consensus is for earnings of $4.18 per share on revenue of $8.61 billion. 2. Federal Reserve: At its penultimate meeting of the year, the Fed on Wednesday afternoon is widely expected to deliver another quarter-point rate cut, which would bring its overnight lending rate down to the range of 3.75% to 4%. The market is also pricing in a near-certain cut at its December meeting, according to the CME Group's FedWatch tool . Friday's cooler-than-expected consumer inflation report didn't materially change the odds for this week's meeting, but for December, they went to 96% from 91%. While the stock market certainly will appreciate the Fed's cut, investors need to remember that the bond market has a mind of its own -- it will not always move in lockstep with the central bank. We saw that in September, when the Fed began its cutting cycle and the yield on the 10-year Treasury moved higher, just as it did a year ago. The good news this time around is that the 10-year Treasury yield has come back down to below 4%, south of where it was when the Fed cut last month. Additionally, given the lack of official government data during the shutdown, Fed Chair Jerome Powell's usual post-meeting conference call will take on another level of intrigue as the market looks for insights into where the central bank believes the economy has trended in the past few weeks. 3. Trade : Trump arrived in Malaysia over the weekend to kick off the longest overseas trip thus far in his second presidency. He's also scheduled to travel to Japan and South Korea, where he's expected to meet with China's Xi to talk trade on Thursday. With the recent pickup in U.S.-China tensions, the market will hope for a Trump-Xi meeting that puts the world's two largest economies back on better footing. Top of mind for investors: Will there be any updates on the flow out rare earth minerals out of China and the flow of American-designed semiconductors into China?"I think we have a really good chance of making a very comprehensive deal," Trump told reporters traveling with him on Air Force One, according to The Associated Press . "I want our farmers to be taken care of. And [Xi] wants things also." Week ahead Monday, October 27 Dallas Fed Index at 10:30 a.m. ET Before the bell: Keurig Dr Pepper (KDP), Bank of Marin Bancorp (BMRC), Carter's, Inc. (CRI) After the bell: Nucor Corp. (NUE), Rambus, Inc. (RMBS), Avis Budget Group, Inc. (CAR), WM (WM), Amkor Technology, Inc. (AMKR), NXP Semiconductors N.V. (NXPI), Whirlpool Corp. (WHR), Alexandria Real Estate Equities, Inc. (ARE), Cadence Design Systems, Inc. (CDNS), Crane Co. (CR), Bed Bath & Beyond, Inc. (BBBY), Brown & Brown Inc. (BRO), Welltower Inc. (WELL), Ameris Bancorp (ABCB), Arch Capital Group Ltd. (ACGL) Tuesday, October 28 S & P Cotality Case-Shiller Home Price Indices at 9 a.m. ET Richmond Fed Index at 10 a.m. ET The Conference Board's Consumer Confidence Survey at 10 a.m. ET Before the bell: Corning (GLW), Sherwin Williams (SHW), UnitedHealth Group, Inc. (UNH), SoFi (SOFI), PayPal (PYPL), United Parcel Service, Inc. (UPS), Celestica, Inc. (CLS), Carrier (CARR), D.R. Horton, Inc. (DHI), HSBC Holdings plc (HSBC), Royal Caribbean Cruises Ltd. (RCL), JetBlue Airways Corporation (JBLU), VF Corp. (VFC), Applied Industrial Technologies (AIT), Ares Capital Corp (ARCC), NextEra Energy Inc (NEE), Wayfair Inc. (W) After the bell: Enphase Energy Inc (ENPH), ONEOK Inc. (OKE), Bloom Energy Corporation (BE), Booking Holdings Inc. (BKNG), Seagate Technology plc (STX), Visa Inc (V), Electronic Arts Inc (EA), Meritage Homes Corporation (MTH), Cheesecake Factory (CAKE), Community Healthcare Trust Incorporated (CHCT), Caesars Entertainment, Inc. (CZR), Edison International, Inc. (EIX), Mondelez International Inc. (MDLZ) Wednesday, October 29 The Federal Reserve's interest rate decision at 2 p.m. ET Fed Chair Jerome Powell's post-meeting press conference at 2:30 p.m. ET Before the bell: Boeing Co. (BA), Otis (OTIS), Verizon Communications (VZ), GE Healthcare (GEHC), CVS Health (CVS), Fiserv, Inc. (FI), Centene Corporation (CNC), Caterpillar, Inc. (CAT), Etsy, Inc. (ETSY), Automatic Data Processing, Inc. (ADP), American Electric Power (AEP), Phillips 66 (PSX), Amarin Corporation plc (AMRN), Criteo S.A. (CRTO), Cognizant Technology Solutions Corp. (CTSH), Brinker International, Inc. (EAT), Garmin Ltd. (GRMN), GlaxoSmithKline plc (GSK), Chart Industries Inc. (GTLS), Kraft Heinz Company (KHC) After the bell: Starbucks Corp. (SBUX), Meta Platforms, Inc. (META), Microsoft Corp. (MSFT), Alphabet Inc. (GOOGL), Chipotle Mexican Grill Inc (CMG), Google (GOOG), Carvana Co. (CVNA), ServiceNow, Inc. (NOW), MercadoLibre Inc (MELI), Sprouts Farmers Market, Inc. (SFM), Agnico-Eagle Mines, Ltd (AEM), Green Brick Partners Inc. (GRBK), Coeur D'Alene Mines Corp. (CDE), Stem, Inc. (STEM), Align Technology, Inc. (ALGN), eBay, Inc. (EBAY) Thursday, October 30 Before the bell: Bristol Myers (BMY), Eli Lilly & Co. (LLY) , Mastercard (MA), Merck & Co., Inc. (MRK), Insmed, Inc. (INSM), Comcast Corp. (CMCSA), CommScope Holding Company, Inc. (COMM), Enterprise Products Partners L.P. (EPD), Blue Owl Capital Inc. (OWL), Roblox Corporation (RBLX), Advance Auto Parts Inc. (AAP), Baxter International, Inc. (BAX), Shake Shack Inc. (SHAK), Southern Company (SO) After the bell: Amazon.com, Inc. (AMZN), Apple, Inc. (AAPL), Coinbase Global, Inc. (COIN), Reddit, Inc. (RDDT), Western Digital Corp. (WDC), MicroStrategy, Inc. (MSTR), Rocket Companies, Inc. (RKT), Riot Platforms, Inc. (RIOT), Cloudflare, Inc. (NET), Roku Inc (ROKU), First Solar Inc (FSLR), Atlassian Corporation Plc (TEAM), Twilio, Inc. (TWLO), Gilead Sciences, Inc. (GILD) Friday, October 31 Chicago PMI at 9:45 a.m. ET Before the bell: Linde (LIN ), Exxon Mobil Corp. (XOM), Chevron Corporation (CVX), AbbVie Inc. (ABBV), Canadian National Railway Company (CNI), Charter Communications Inc. (CHTR), LyondellBasell Industries (LYB), AON Plc (AON), Cboe Global Markets, Inc. (CBOE), Church & Dwight Co., Inc. (CHD), Dominion Energy, Inc. (D) (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
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Fiserv
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https://www.cnbc.com/2025/10/29/fiserv-stock-guidance-earnings.html?&qsearchterm=Fiserv
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Fiserv stock craters 44% for worst day ever after company slashes guidance
| 2025-10-29T00:00:00
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Fiserv 's stock plummeted 44% Wednesday, closing out its worst day ever after the fintech company cut its earnings outlook and shook up some of its leadership team.
"Our current performance is not where we want it to be nor where our stakeholders expect it to be," wrote CEO Mike Lyons in a release.
For the full year, Fiserv now expects adjusted earnings of $8.50 to $8.60 a share for the year, down from a previous forecast of $10.15 and $10.30. Revenues are expected to grow 3.5% to 4%, versus a prior estimate of 10%.
During an earnings call Wednesday, Lyons said Argentina's deteriorating economic environment contributed to slowing growth and margin disappointment. Last year, the South American country contributed 10 percentage points to its 16% organic growth rate, he said.
Fiserv's original growth estimate "assumed that to compensate for the slowdown, our non-Argentinian businesses would grow significantly faster than their historical mid-single-digit range," he said.
Adjusted earnings came in at $2.04 per share, falling short of the LSEG estimate of $2.64. Revenues rose about 1% from a year ago to $4.92 billion, missing the $5.36 billion forecast. Net income grew to $792 million from $564 million in the year-ago period.
Along with the results, Fiserv announced a slew of executive and board changes.
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Fiserv
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https://www.cnbc.com/2025/10/29/stocks-making-the-biggest-moves-premarket-nvda-cat-gnrc-czr.html?&qsearchterm=Fiserv
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Stocks making the biggest moves premarket: Nvidia, Caterpillar, Generac, Caesars Entertainment & more
| 2025-10-29T00:00:00
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Check out the companies making headlines in premarket trading. Nvidia — Shares climbed 3.5% in Wednesday's premarket trading, building on the rally of around 5% seen in the prior session. The chipmaker is now closing in on the $5 trillion market cap milestone , which no other company has hit before. Boeing — The aerospace company whipsawed after it reported its latest quarterly results. For the third quarter, Boeing posted $23.27 billion in revenue, above the $21.97 billion that analysts surveyed by LSEG were expecting. However, it posted a steeper loss than expected, reporting $7.47 in adjusted loss per share compared to the loss of $4.59 per share analysts were looking for. Caterpillar — The construction and agriculture equipment manufacturer rose 4% on better-than-expected results for the third quarter. Caterpillar earned $4.95 per share, adjusted, on revenue of $17.64 billion. Analysts polled by LSEG expected a profit of $4.59 per share on revenue of $16.77 billion. Fiserv — Shares of the financial services tech company plunged 28% on the back of a massive third-quarter earnings miss. Fiserv earned $2.04 per share, excluding certain items, on revenue of $4.92 billion. Analysts expect earnings per share of $2.64 per share on revenue of $5.35 billion. The company also slashed it full-year earnings guidance. CVS Health — The pharmacy operator fell slightly after the company reported a net loss of $3.99 billion for the third quarter. A year prior, CVS saw net income of $71 million. Seagate Technology — The data storage company added 6.6% after beating expectations for the first fiscal quarter. Seagate earned $2.61 per share on an adjusted basis and revenue at $2.63 billion, while analysts surveyed by LSEG had penciled in $2.37 a share on $2.55 billion in revenue. Centene — The managed care company jumped 10% after posting better-than-expected earnings for the third quarter and raising its guidance. Centene earned 50 cents per share despite analysts polled by FactSet anticipating a per-share loss of 14 cents. The company recorded $49.69 billion in revenue, also topping the consensus estimate of $47.72 billion. TE Connectivity — Shares popped 4.4% following a stronger-than-forecast earnings report for the fiscal fourth quarter. TE said it earned $2.44 per share, excluding items, on $4.75 billion in revenue, while analysts anticipated $2.29 a share and $4.58 billion, respectively. Teradyne — Shares of the test system and robotic products suppliers surged 20.5% on a positive earnings report and outlook. Teradyne earned 85 cents, excluding items, on $769 million in revenue for the third quarter, while analysts predicted 79 cents and $744.1 million, per FactSet. Generac — The generator maker dropped 9% on a weaker-than-anticipated earnings report for the third quarter. Generac earned $1.83 per share, excluding items, and $1.11 billion in revenue, missing the forecasts for $2.19 a share and $1.19 billion from analysts surveyed by FactSet. Mondelez — The snack maker slid 5.5% after dropping its full-year organic revenue growth forecast to 4% from 5%. That overshadowed an earnings report that beat Wall Street's expectations on both lines for the third quarter. Brinker International — The stock fell 4% after the chain restaurant owner issued full-year revenue guidance in the range of $5.60 billion to $5.70 billion. That's slightly below the Street's average forecast of $5.72 billion for the firm's 2025 revenue, per FactSet. Garmin — The electronic device maker lost 5.3%. While earnings per share came in line with analyst expectations at $1.99 excluding items, revenue was at $1.77 billion while the Street penciled in $1.78 billion, according to FactSet. Bloom Energy — The energy technology stock jumped 13.9%. Bloom earned an adjusted 15 cents per share on revenue of $519 million in the third quarter, surpassing FactSet consensus estimates of 10 cents per share an $428.4 million in revenue. Caesars Entertainment — The casino operator dropped nearly 8% after its third-quarter financial results disappointed investors. Caesars reported a loss of 27 cents per share on revenue of $2.87 billion. Analysts surveyed by LSEG had expected a loss of 5 cents per share on revenue of $2.89 billion. Enphase Energy — The energy technology company tumbled more than 11% after its full-year revenue guidance of $310 million to $350 million fell short of the $382.9 million expected from analysts, per FactSet. Enphase Energy also said tariffs had an impact on its third-quarter gross margins. Its adjusted earnings for the quarter, however, topped expectations. Avantor — The life sciences stock plunged 17.2% after third-quarter revenue came in at $1.62 billion, under the FactSet consensus estimate of $1.65 billion. Avantor's earnings per share were in line with expectations at 22 cents, excluding items. — CNBC's Fred Imbert, Liz Napolitano, Sean Conlon and Michelle Fox contributed reporting
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PayPal
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https://www.cnbc.com/2025/10/28/paypal-openai-chatgpt-payments-deal.html?&qsearchterm=PayPal
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PayPal signs deal with OpenAI to become the first payments wallet in ChatGPT
| 2025-10-28T00:00:00
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PayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through the leading consumer AI tool, the company told CNBC exclusively.
Shares of the company jumped roughly 4% on the news.
The agreement, sealed over the weekend, means that starting next year, both sides of PayPal's ecosystem can plug into ChatGPT: PayPal users can purchase items through the AI platform, and its merchants can sell on it, with their inventory listed there, according to PayPal CEO Alex Chriss.
"We've got hundreds of millions of loyal PayPal wallet holders who now will be able to click the 'Buy with PayPal button' on ChatGPT and have a safe and secure checkout experience," Chriss said in an interview.
The move makes PayPal an early part of OpenAI's efforts to broaden ChatGPT's use for e-commerce. The thinking is that its 700 million-plus weekly users can lean on artificial intelligence to help them find items, similar to a human personal shopper. Last month, OpenAI said its users could buy from Shopify and Etsy merchants, and two weeks ago it announced an e-commerce deal with Walmart .
"It's a whole new paradigm for shopping," Chriss said. "It's hard to imagine that agentic commerce isn't going to be a big part of the future."
PayPal is attempting to position itself as a payments backbone for the coming era of agentic AI shopping, announcing recent deals with Google and artificial intelligence firm Perplexity. The fintech firm, which also released third-quarter results Tuesday, issued a release on its OpenAI deal after CNBC's report.
The company will also manage merchant routing, payment validation and other behind-the-scenes aspects of payment processing for PayPal sellers on ChatGPT, so individual merchants don't have to sign up with OpenAI, the firm said.
Chriss touted the fact that both consumers and merchants have been verified by the fintech firm, reducing the risk of fraud for either group. Users can pull funds from linked bank accounts or credit cards, or stored balances, to pay for purchases, and they'll get protections, package tracking and dispute resolution.
"It's not just that a transaction can happen," Chriss said. "It's that this is a trusted set of merchants, the largest merchant network in the world from PayPal, that are verified, with the largest set of verified consumers in a consumer wallet."
PayPal also said it is expanding the use of OpenAI's enterprise AI products for its employees to speed up product cycles.
At the launch last month of its Instant Checkout feature, OpenAI announced it was partnering with Stripe, which is giving users the ability to tap stored card and bank accounts to pay Etsy merchants.
Stripe calls its product, Link, a wallet and says it has 200 million users, but the service cannot yet store funds and has no consumer mobile app, so many fintech experts don't yet consider it a full wallet.
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PayPal
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https://www.cnbc.com/2025/10/28/stocks-making-the-biggest-moves-midday-pypl-nok-vfc-ups-w.html?&qsearchterm=PayPal
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Stocks making the biggest moves midday: PayPal, Nokia, VF Corp., UPS, Wayfair & more
| 2025-10-28T00:00:00
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Check out the companies making the biggest moves midday: Agilysys — The hospitality software maker jumped 20% after the company posted fiscal second-quarter results above expectations. The company earned 40 cents per share, excluding certain items. Analysts polled by LSEG expected a profit of 34 cents per share. Agilysys also raised its fiscal 2026 revenue guidance. Leggett & Platt — The furniture components maker jumped 15% after the company posted its third-quarter results. Leggett & Platt earned 29 cents per share, excluding certain items, on revenue of $1.04 billion. Both figures were about on par with StreetAccount consensus estimates. The company also raised its full-year earnings outlook. ATI — Shares of the aerospace company popped 8% on better-than-expected results for the third quarter. ATI earned 85 cents per share, excluding certain items, on revenue of $1.13 billion. Analysts expected a profit of 73 cents per share on revenue of $1.12 billion, per StreetAccount. JetBlue Airways — The airline tumbled 9.2% after third-quarter revenue came in line with analyst expectations at $2.32 billion, per LSEG. JetBlue posted a loss of 40 cents a share, excluding items, narrower than the consensus forecast for 44 cents. Regeneron Pharmaceuticals – Shares jumped more than 9% after the company's third-quarter results beat expectations on the top and bottom lines. For the third quarter, Regeneron earned $11.83 per share on revenue of $3.75 billion, above the $9.65 in earnings per share and $3.59 billion that analysts polled by FactSet had estimated. CommVault Systems — The cloud cybersecurity stock dropped 17% following an earnings miss. The company earned 91 cents per share, excluding certain items, for the fiscal second quarter. Analysts polled by StreetAccount expected a profit of 94 cents per share. Nokia — The Finnish company, which is known best for its early cell phones, popped more than 21% after the company announced that Nvidia will purchase $1 billion in Nokia shares . Both companies also struck a strategic partnership to together develop next-generation 6G cellular technology. Alexandria Real Estate Equities — The California-based REIT dropped 16% after the company's earnings missed expectations. On top of that, Alexandria Real Estate also lowered its full-year profit outlook for the year. VF Corp — The Vans parent company slid 8% as weak fiscal third-quarter guidance offset a Q2 earnings beat. VF sees revenue falling 1%-3% from the year-earlier period. However, analysts on average expected a 1.2% increase. Skyworks Solutions — The maker of high-performance analog and mixed-signal semiconductors climbed 11% after an all stock-and-cash deal to buy its rival Qorvo , which also surged 11%. The combined company will be valued at some $22 billion. Qorvo shareholders will receive $32.50 in cash and 0.960 of a Skyworks common share for each Qorvo share held, with Skyworks shareholders controlling about 63% of the new company and Qorvo holders the rest. PayPal Holdings — The payment provider surged 9% after third-quarter earnings per share of $1.34 topped the Wall Street consensus estimate of $1.20, based on a FactSet poll of analysts, and it initiated a quarterly dividend of 14 cents per share . Corning — The fiver optic cable maker dropped 3% after adjusted third-quarter results and fourth-quarter guidance topped Wall Street estimates. The core operating margin of 19.6% missed the Street's estimated 20.1%, cash from operations of $784 million missed analysts' expected $1.07 billion and free cash flow of $535 million was below an expected $706.5 million, FactSet's StreetAccount said. Wayfair — The online home goods retailer jumped 22% after third-quarter earnings came in better than anticipated, with Wayfair earning an adjusted 70 cents per share on $3.12 billion in revenue. Analysts polled by LSEG forecast 43 cents a share and $3.02 billion, respectively. UPS — The parcel delivery company jumped 7% after posting better-than-expected third quarter revenue of $21.4 billion versus the Street's forecast of $20.83 billion, and adjusted earnings of $1.74 per share versus a consensus estimate $1.24. Fourth-quarter revenue guidance also topped Street forecasts. F5 —The multi-cloud application security and deliver solutions provider dropped 6.4% after disclosing its BIG-IP product line recently suffered a security incident. Third-quarter revenue came in at a better-than-expected $810 million. Rambus -- The semiconductor maker tumbled 7% after third-quarter earnings of 44 cents per share trailed the 45 cents per share earned in the same period a year ago. Revenue of $178.5 million topped $145.5 million from the year-earlier period. Rambus shares had more than doubled in the past six months and were almost 80% higher in the past three months alone going into the report. Sysco — The food distributor fell 1% after fiscal first-quarter results underwhelmed investors. Sysco earned $1.15 per share, excluding certain items, on revenue of $21.1 billion. Analysts polled by FactSet expected a profit of $1.12 per share on revenue of $21.08 billion. Sherwin-Williams — Shares climbed 4% after the paint and coatings company reported earnings results that exceeded expectations on the top and bottom lines. Sherwin-Williams posted third-quarter adjusted earnings of $3.59 per share on revenue of $6.36 billion. Analysts polled by FactSet were anticipating earnings of $3.44 per share on revenue of $6.20 billion. Waste Management — Shares fell 3% on disappointing third-quarter results. The company earned $1.98 per share, excluding certain items, on revenue of $6.44 billion. Analysts expected a profit of $2.02 per share on revenue of $6.5 billion. D.R. Horton — The homebuilder fell 2% on an earnings miss. Horton's earnings per share of $3.04 in its fiscal fourth quarter came in roughly 7% below analysts' expectations. Royal Caribbean — Shares tumbled 8% after the cruise line's third-quarter revenue trailed estimates and it gave weaker full-year earnings guidance than the Street expected. Royal Caribbean's latest quarter revenue totaled $5.14 billion, versus the $5.17 billion FactSet consensus estimate. RCL full-year earnings guidance of $15.58 and $15.63 missed the $15.70 per share expected by analysts. Rival cruise line Carnival Corp. fell more than 4% in sympathy. — CNBC's Alex Harring, Pia Singh, Sarah Min, Michelle Fox Theobald and Scott Schnipper contributed reporting
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PayPal
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https://www.cnbc.com/2025/10/28/stocks-making-big-moves-premarket-skyworks-qorvo-wayfair-ups-and-more.html?&qsearchterm=PayPal
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Stocks making the biggest moves premarket: PayPal, UnitedHealth, Wayfair, Skyworks, UPS and more
| 2025-10-28T00:00:00
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Check out the companies making headlines before the bell Skyworks Solutions — The maker of high-performance analog and mixed-signal semiconductors climbed 19% after an all stock-and-cash deal to buy its rival Qorvo , which surged 17%. The combined company will be valued at some $22 billion. Qorvo shareholders will receive $32.50 in cash and 0.960 of a Skyworks common share for each Qorvo share held, with Skyworks shareholders controlling about 63% of the new company and Qorvo holders the rest. PayPal Holdings — The payment provider surged 12% after third-quarter earnings per share of $1.34 topped the Wall Street consensus estimate of $1.20, based on a FactSet poll of analysts, and it initiated a quarterly dividend of 14 cents per share . Corning — The fiver optic cable maker dropped some 6% after adjusted third-quarter results and fourth-quarter guidance topped Wall Street estimates. The core operating margin of 19.6% missed the Street's estimated 20.1%, cash from operations of $784 million missed analysts' expected $1.07 billion and free cash flow of $535 million was below an expected $706.5 million, FactSet's StreetAccount said. Wayfair — The online home goods retailer jumped 11% after third-quarter earnings came in better than anticipated, with Wayfair earning an adjusted 70 cents per share on $3.12 billion in revenue. Analysts polled by LSEG forecast 43 cents a share and $3.02 billion, respectively. UPS — The parcel delivery company jumped 10% after posting better-than-expected third quarter revenue of $21.4 billion versus the Street's forecast of $20.83 billion, and adjusted earnings of $1.74 per share versus a consensus estimate $1.24. Fourth-quarter revenue guidance also topped Street forecasts. F5 —The multi-cloud application security and deliver solutions provider dropped 9% after disclosing its BIG-IP product line recently suffered a security incident. Third-quarter revenue came in at a better-than-expected $810 million. Rambus -- The semiconductor maker tumbled 15% after third-quarter earnings of 44 cents per share trailed the 45 cents per share earned in the same period a year ago. Revenue of $178.5 million topped $145.5 million from the year-earlier period. Rambus shares had more than doubled in the past six months and were almost 80% higher in the past three months alone going into the report. Sysco — The food distributor fell 4% after fiscal first-quarter results underwhelmed investors. Sysco earned $1.15 per share, excluding certain items, on revenue of $21.1 billion. Analysts polled by FactSet expected a profit of $1.12 per share on revenue of $21.08 billion. Sherwin-Williams — Shares jumped 5.6% after the paint and coatings company reported earnings results that exceeded expectations on the top and bottom lines. Sherwin-Williams posted third-quarter adjusted earnings of $3.59 per share on revenue of $6.36 billion. Analysts polled by FactSet were anticipating earnings of $3.44 per share on revenue of $6.20 billion. Waste Management — Shares fell nearly 4% on disappointing third-quarter results. The company earned $1.98 per share, excluding certain items, on revenue of $6.44 billion. Analysts expected a profit of $2.02 per share on revenue of $6.5 billion. UnitedHealth — The health insurer rose more than 3% on better-than-expected third-quarter results. The company earned an adjusted $2.92 per share on revenue of $113.2 billion. Analysts polled by LSEG expected a profit of $2.79 per share on revenue of $113.06 billion. Amazon — Shares ticked higher after the company said it would lay off approximately 14,000 employees. D.R. Horton — The homebuilder fell 5% on an earnings miss. Horton's earnings per share of $3.04 in its fiscal fourth quarter came in roughly 7% below analysts' expectations. Royal Caribbean — Shares tumbled 7.6% after the cruise line's third-quarter revenue trailed estimates and it gave weaker full-year earnings guidance than the Street expected. Royal Caribbean's latest quarter revenue totaled $5.14 billion, versus the $5.17 billion FactSet consensus estimate. RCL full-year earnings guidance of $15.58 and $15.63 missed the $15.70 per share expected by analysts. Rival cruise line Carnival Corp. fell more than 4% in sympathy. — CNBC's Alex Harring, Fred Imbert, Sarah Min, Michelle Fox Theobald and Scott Schnipper contributed reporting
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PayPal
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https://www.cnbc.com/video/2025/10/28/final-trades-southern-copper-rio-tinto-paypal-newmont.html?&qsearchterm=PayPal
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Final Trades: Southern Copper, Rio Tinto, PayPal, Newmont
| 2025-10-28T00:00:00
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In this video
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Final Trades: Southern Copper, Rio Tinto, PayPal, Newmont
CNBC’s 'Fast Money' team share their final trades of the day.
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PayPal
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https://www.cnbc.com/video/2025/10/28/final-trades-netflix-vistra-paypal-and-the-qqq.html?&qsearchterm=PayPal
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Final Trades: Netflix, Vistra, Paypal and the QQQ
| 2025-10-28T00:00:00
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Allstate
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https://www.cnbc.com/2023/10/16/activist-hedge-fund-trian-targets-insurer-allstate-sources-say.html?&qsearchterm=Allstate
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Activist hedge fund Trian targets insurer Allstate, sources say
| 2023-10-16T00:00:00
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Nelson Peltz's activist hedge fund Trian Fund Management has built a stake in Allstate , one of the insurers struggling to cope with the fallout of natural disasters such as the Maui wildfire in Hawaii, people familiar with the matter said.
The move could increase pressure on Chief Executive Tom Wilson, who has led Allstate since 2007, to turn the Northbrook, Illinois-based company around following five quarters of losses. It has blamed natural disasters that are sometimes amplified by climate change for its poor performance.
Allstate has hired investment bankers to advise it on how to handle Trian, the sources said. Trian's exact stake and plans for Allstate could not be learned.
The sources spoke on condition of anonymity because the matter is confidential. Allstate and Trian did not immediately respond to requests for comment.
Allstate shares jumped 6% on the news to $127.46 in Monday trading in New York. Prior to news of Trian's involvement, Allstate's stock price had dropped 9% year-to-date, significantly underperforming a 4% rise in the S&P 500 Property & Casualty Insurance index, due to its exposure to losses in property and auto insurance.
Like many insurers, Allstate has not raised its premiums fast enough to cover losses it incurs by paying out on big natural disasters such as wildfires, while inflation has also made it harder for it to cover replacement costs.
Activist investor Carl Icahn built a position in Allstate two years ago but did not publicly push for board seats or other major changes.
Trian, which recently overhauled its top ranks and promoted two veterans, including Peltz's son, Matthew, to co-chief investment officers, is already busy with another high-profile corporate battle. It reignited its activist campaign against Walt Disney this month after it dropped a board challenge earlier this year in the wake of CEO Bob Iger's return.
Trian has previously pushed for change at companies such as Procter & Gamble , Unilever and Invesco .
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Sempra
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https://www.cnbc.com/2025/10/28/wells-fargo-tells-investors-to-get-very-long-utility-stocks-on-ai-power-demand.html?&qsearchterm=Sempra
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Wells Fargo tells investors to get very long utility stocks on AI power demand, says this is not a fad
| 2025-10-28T00:00:00
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Investors ought to increase their exposure to utility stocks as companies build out energy-guzzling data centers to power an artificial intelligence boom, Wells Fargo advised clients. The bank initiated coverage of 33 companies across the utilities and power space, assigning a raft of stocks overweight ratings. "Power demand and tailwinds are structural, not cyclical, driving growth higher for the sector, which on a risk-adjusted basis looks favorable vs. S & P [500] earnings growth," analyst Shahriar Pourreza wrote Monday. AI-related investments could hit $375 billion this year and top $500 billion by the end of 2026, according to UBS . The flood of funds to the new technology has raised eyebrows among market experts, stoking concerns that the so-called AI bubble will eventually burst. But, Wells Fargo doesn't see an AI-driven increase in energy demand fading anytime soon. "No one is chasing a fad here," Pourreza wrote. In addition, utility stocks will likely continue gaining steam due to a combination of several other catalysts, including the reshoring of domestic manufacturing in the U.S. and electrification efforts, according to the note. Here are a few utilities stocks Wells Fargo is bullish on. Constellation Energy Corporation Wells Fargo assigned Constellation Energy 's shares an overweight rating, setting the price target at $478 per share. That implies 22% upside from Monday's close. The emissions-free energy producer and supplier's stock is the "best way to play hyperscaler opportunities [and] resource adequacy trends," given its robust gas and nuclear portfolio, according to Wells Fargo. Shares have surged 71% in the year to date. Sempra The energy infrastructure company also received an overweight rating from Wells Fargo, as well as a $115 price target. That forecast signals a gain of more than 23% from Monday's close. Wells Fargo noted Sempra trades at a discount, despite its top-quartile growth. And over the long-term, its earnings per share will likely exceed the 6%-8% growth suggested in its prior guidance, according to the investment firm. Shares are trading up about 6% in 2025. ( Learn the best 2026 strategies from inside the NYSE with Josh Brown and others at CNBC PRO Live. Tickets and info here . )
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