Cramer Remix: How investors can use earnings to their advantage in this sell-off

Sell-offs that occur during earnings season often provide great opportunities for investors to build positions in top-notch stocks, CNBC’s Jim Cramer argued Thursday as the market compounded its monthly losses. « In a sell-off during earnings season, you can’t have a lot of guesswork. You want to be sure you’re buying companies that you absolutely know are doing well, » the « Mad Money » host said. « That’s what’s so great about sell-offs in the reporting period: you’ve got the perfect shopping list because the companies have just told…

Cramer’s 5 favorite tech stocks right now, including Apple, Salesforce and Adobe

CNBC’s Jim Cramer wanted to reaffirm his faith in the technology sector as the tech-heavy Nasdaq index took Thursday’s sell-off pain head-on, dropping 2.1 percent amid marketwide weakness. So the « Mad Money » host decided to continue his « power rankings » of stocks with the most investment potential in each sector with the information technology space, the single largest sector in the S&P 500. « On the one hand, tech’s still the second-best-performing sector in the market right now, right behind health care, » Cramer said. « On…

Convoy CEO: Inefficiency is a bigger problem than driver shortage for the trucking industry

Trucks are running across the country empty 30 to 40 percent of the time, Dan Lewis, CEO of digital freight matching company Convoy, told CNBC on Thursday He hopes to change all that by utilizing that free space. « We think the next big thing in trucking is to actually automate the process of matching those hundreds of thousands, millions of trucks with all of the freight that needs to be moved every day, » he told Wilfred Frost. In fact, he believes inefficiency is the bigger problem than the…

Ford boosts production of its $400,000 GT supercar as demand outpaces supply six-to-one

Ford is boosting the limited production of its $400,000 GT supercar to keep up with demand, the company said Thursday. The Ford GT is the automaker’s answer to high-performance sports cars from companies such as Lamborghini, Ferrari, Porsche, McLaren and others. Orders have been outpacing supply, prompting Ford to up production from the 1,000 GTs it originally planned to make in 2016 to 1,350. The company is also extending its production deadline from 2020 to 2022. « The response to our Ford GT has been unprecedented, with initial demand outstripping…

Highlights from the 3rd Annual Net/Net Summit

The CEO-CFO Partnership: Managing Change in Retail Health CareAcquisitions. Buybacks. New competitors (Amazon!). Shifting consumer trends. The team at Walgreens Boots Alliance has had its hands full in recent years, keeping pace with rapid changes while delivering consistent growth. We’ll find out what makes their C-suite tick. Leadership Lessons, from Battlefield to BoardroomThe legendary commander of the Joint Special Operations Command revolutionized the way we fight wars; he now applies the lessons he learned on the battlefields of Afghanistan and Iraq to management strategy, helping leaders adapt, innovate and initiate…

Political ad buyers are exploiting a Facebook loophole to disguise where their money is coming from

Despite Facebook’s efforts to make political ad funding more transparent, loopholes enable ad buyers to remain relatively anonymous. Facebook announced in March a new tool to promote political advertising transparency on the site. But a series of news stories over the past few weeks reveal that political advertisers are exploiting loopholes in Facebook’s system to obscure the source of their funding. Late last month, The Daily Beast identified a digital media startup that created a limited liability company (LLC) to buy political advertising. The Atlantic reported Wednesday that the LLC…

Uber is testing a new ‘on-demand labor’ service, sort of like a temp agency

Uber is testing an « on-demand labor » service that sounds sort of like a temp agency and would expand the ride-hailing giant beyond the transportation realm for the first time, a person familiar with the pilot program told CNBC. The Financial Times first reported the Uber Works pilot. Uber declined to comment to CNBC. The company is shoring up its finances and expanding its reach ahead of an IPO next year. Uber made its name as a ride-based logistics platform, but expanded in recent years to offer food delivery…

Hyperloop One takes first step on a promising test road in America’s heartland

The last new form of transportation, the airplane, was invented 115 years ago. But a contender for the 21st century’s biggest travel breakthrough, the Hyperloop, just took a step closer to becoming a reality in the United States. Virgin Hyperloop One, which already has a working demo in Nevada and claims it will have the first passenger-bearing loop built by the mid-2020s, said on Wednesday that the first feasibility study has been completed, confirming that the concept is viable in the case of « Heartland Hyperloop » in Missouri. Missouri,…

Apple announces October 30 event where it’s expected to announce new iPads and Macs

Apple just announced that it will hold a press event on Oct. 30 in New York City. It’s where Apple is expected to unveil its latest iPads and Macs. In July, top Apple analyst Ming-Chi Kuo said Apple will release a new 11-inch iPad Pro with support for Face ID, the same facial-recognition technology used in Apple’s newest iPhones that can unlock the device when you look at it. Apple refreshed its standard iPad back in March, when it also added support for the Apple Pencil stylus. Apple’s current iPad…

Crypto M&A is on a tear as dealmakers see opportunity in bitcoin’s price slump

Dealmakers seem to be anything but deterred by bitcoin’s price pain this year — they’re actually using it as an excuse to go bargain hunting. Despite the ongoing bear market in the sector, merger and acquisition activity by cryptocurrency companies among themselves and by companies hunting for bitcoin’s underlying technology is hitting record levels. Total blockchain and crypto-related deals have surged more than 200 percent at an annualized rate this year, according to data from PitchBook that was compiled by JMP Securities. Bitcoin, meanwhile, has lost 54 percent of its…

Facebook talks up its third-party fact-checkers, but at least one is checking just one post per day

Facebook has been talking up its third-party fact-checking partners as the company continues its war against fake news and misinformation campaigns. But at least one partner isn’t actually reviewing much content. FactCheck.org, one of several third-party reviews contracted by Facebook, told the Wall Street Journal it reviews less than one Facebook post per day, on average. The company has been ramping up detection efforts in light of foreign interference in the 2016 presidential election, and ahead of the midterm elections in November. CEO Mark Zuckerberg testified before Congress that the…

How to download a copy of everything Apple knows about you

Stephen Lam | Reuters Tim Cook, CEO of Apple, smiles during a demonstration of the newly released Apple products following the launch event at the Steve Jobs Theater in Cupertino, California, September 12, 2018. Apple launched a new privacy website on Wednesday that makes it easier to download a full copy of everything you’ve stored on the company’s servers. You can also delete everything in case you want to move your data from Apple to another company. CNBC has covered how to do this before, but you used to have…

Facebook co-founder wants to repeal Trump tax cuts to pay for a $500 per month basic worker income

Facebook co-founder Chris Hughes said Thursday the federal government could give U.S. workers a stipend of $500 per month by repealing the tax cuts passed late last year. Hughes, author of « Fair Shot: Rethinking Inequality and How We Earn » and an advocate for a basic income, argued that less than a third of Americans have reaped the benefits of President Donald Trump’s tax cuts. « Everybody else, they’re making the same amount that they made in 1978, » Hughes said in a « Squawk Box » interview. Meanwhile,…

2019 is shaping up to be a year of massive tech IPOs, with valuations as high as $100 billion

2019 is shaping up to be a big year for massive tech IPOs, with valuations that could reach as high as $100 billion or more. Ride-sharing companies Uber and Lyft have been open about their ambitions to go public, but several other tech companies have begun to hint at upcoming IPOs as well. Here are the companies to watch in 2019. This elusive data-mining company backed by Peter Thiel is the latest tech giant to consider an IPO for late 2019, according to the Wall Street Journal. Palantir is currently…

Beaten-up tech stocks to feel more pain, investor Paul Meeks predicts

The tech-heavy Nasdaq is on pace for its steepest monthly decline since January 2016, but veteran investor Paul Meeks isn’t ready to jump into the wreck for bargains just yet. Meeks, who ran the world’s biggest tech fund for Merrill Lynch during the dot-com boom and subsequent collapse, is predicting more trouble due to a powerful shift in the market. « What we have seen, and it’s unmistakable, is a move from growth to value, » he said Wednesday on CNBC’s « Trading Nation. » « That’s going to continue…

Tech and real estate turn to the cloud to protect cities from floods

Intense storms are becoming much more frequent, resulting in heavier rainfall and flooding that wreaks havoc on local infrastructures, budgets and economies. This summer was one of the wettest on record in much of the Northeast. Study after study have shown that storms with extreme rain are becoming more common, and consequently posing a new challenge to old, outdated stormwater systems in cities large and small. Most of the nation’s stormwater systems are simply unable to handle the increasingly heavy rainfall. And it gets worse as urban development increases because…

Mr. Wonderful doesn’t sugarcoat anything with Wicked Good Cupcakes on ‘Beyond the Tank’

It’s not everyday you make « Shark Tank » history — let alone persuade Mr. Wonderful to have faith in your product. But for the mother-daughter team behind Wicked Good Cupcakes, their delicious treats led them to an even sweeter deal. On Season 4 of « Shark Tank, » co-founders Tracey Noonan and daughter Dani Vilagie accepted a royalty deal from Kevin O’Leary — the first in « Shark Tank » history. Now, the business partners have joined forces once again on Thursday night’s episode of « Beyond the Tank.…

‘Grand Theft Auto’ publisher gets a court order to raid homes of alleged cheat developers

The publisher of « Grand Theft Auto V » and its parent company were granted the right to raid the homes of five people who allegedly made cheat software to manipulate the video game’s online mode. A court order issued by the Federal Court of Australia, dated September 21, gave Rockstar Games and Take-Two Interactive’s lawyers the right to search the homes of the developers and seize any evidence related to the cheat. The people were identified in the court order as Christopher Anderson, Cyrus Lesser, sfinktah, Koroush Anderson and…

Procter & Gamble is testing 3D printed Gillette razors

Gillette customers will now be able to order personalized 3D printed razors in a pilot program from parent company Procter & Gamble. Razor handles will be printed using stereolithography, a type of 3D printing technology from Boston-based Formlabs and people will be able to choose from 48 designs and seven colors, priced between $19 and $45, including one razor blade. A pack of four extra blades will cost $15 and orders will shop in two to three weeks from the company’s new Razor Maker website. 3D printing has mostly been…

Inside Facebook’s ‘War Room,’ where the company is fighting to stop election manipulation

There are about two dozen desks packed into a windowless room, a half-dozen screens with TV news and Twitter feeds and even more monitors lining the walls tracking trends in Facebook user behavior. This is Facebook’s first ever « War Room, » designed to prevent election manipulation by improving data-sharing across the company and enabling quick decisionmaking. This roughly 900-square-foot room, which it recently showed to journalists, is a visual representation of the company’s commitment to dramatically improving communication and security ahead of the U.S. midterms. This demonstration of Facebook’s…

Uber reportedly raises $2 billion in debut junk bond sale ahead of blockbuster IPO

Uber has raised $2 billion in a junk bond sale, according to a report, as it gears up for its 2019 stock market debut. The ride-hailing firm raised $1.5 billion through the sale of eight-year notes with a yield of 8 percent — it had initially pitched $1 billion — and an additional $500 million by selling five-year notes with a yield of 7.5 percent in a private placement led by Morgan Stanley, according to the Financial Times. Uber was not immediately available when contacted by CNBC; nor was Morgan…

Huge Facebook hack wasn’t conducted by a nation-state, investigation reportedly suggests

Facebook believes that the hackers who gained access to private information of some 30 million users on the site were spammers looking to make money through deceptive advertising, the Wall Street Journal reported on Wednesday. The findings so far suggested that the hackers were not affiliated with a nation-state, the Journal said, citing sources familiar with Facebook’s internal investigation. Internal researchers believe that the people behind the attack are from a group of Facebook and Instagram spammers who present themselves as a digital marketing company, according to the WSJ. Their…

Cramer Remix: I’m calling out the Fed as lazy and irresponsible

CNBC’s Jim Cramer argued on Wednesday that « mixed » economic data, coupled with more hawkish rhetoric from the Federal Reserve, were to blame for the stock market’s volatile trading session. « Remember what’s at stake here. We are now in the midst of earnings season, where we can piece together a mosaic of what’s really going on in the economy. If the economy’s fabulous, then the Fed’s current course — one rate hike in December followed by three more next year — is correct, » the « Mad Money…

Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion

The team behind Castlight Health and Athenahealth, both public companies in health-tech, are onto their next billion-dollar venture. Devoted Health, a health insurance start-up targeting seniors, is now valued at $1.8 billion, people familiar with the matter told CNBC, after raising $300 million in fresh capital earlier this week. The sources asked not to be named because the valuation wasn’t disclosed. Todd and Ed Park, brothers and serial health-tech entrepreneurs, founded Devoted last year, jumping into the market for Medicare Advantage (MA) plans, which provide coverage for people over age…

Cramer: Alphabet and Amazon, my largest trust holding, can still be bought after Netflix beat

CNBC’s Jim Cramer has spotted some attractive buying opportunities in FAANG — his acronym for the stocks of Facebook, Amazon, Apple, Netflix and Google, now Alphabet — after the market’s latest sell-off. « Once again, reports of FAANG’s death proved to be premature, » the « Mad Money » host said Wednesday after Netflix’s earnings beat. « And, amazingly, I think Alphabet and Amazon have both come down enough that they can be purchased at these very levels. » Shares of Amazon, the largest position in Cramer’s charitable trust, fell…

Beyond Meat vegan food company taps investment banks for IPO

Beyond Meat has hired investment banks for an initial public offering, people familiar with the matter tell CNBC. The plant-based food company has tapped J.P Morgan, Goldman Sachs and Credit Suisse to help lead the IPO, said the people, who asked not to be named because the talks are private. It could not be immediately determined what valuation Beyond Meat will seek in its IPO. Beyond Meat did not respond to multiple requests for comment. J.P. Morgan, Credit Suisse and Goldman Sachs declined to comment. The IPO will be the…

Jeff Bezos has been quiet on the disappearance of Washington Post journalist Jamal Khashoggi

As the story of Jamaal Khashoggi unfolds, one significant person has remained silent: Jeff Bezos. Bezos owns the Washington Post, the newspaper that employed Khashoggi when the journalist entered the Saudi consulate in Istanbul, Turkey, on Oct. 2. Khashoggi hasn’t been seen since, and a Turkish official has said that Saudi agents killed and dismembered him inside the consulate, according to the New York Times. The Saudi government has denied any connection to the disappearance. With his gruesome story capturing front-page headlines, U.S. business leaders have voiced their disdain. J.P.…

Amazon, Illumina among Wall Street analysts’ favorite stocks to buy on this market dip

With the fourth quarter shaping up to be considerably choppier than many expected, it’s time to look at Wall Street and see which stocks the experts are betting on as solid picks amid the selloff. The Dow Jones Industrial Average and S&P 500 fell more than 4 percent last week despite strong gains on Friday. The Nasdaq dropped nearly 3.75 percent for the week. TipRanks tracks and ranks almost 5,000 Wall Street analysts. We scanned our data for the Street’s best-rated stocks across the different sectors right now. All the…

New York AG launches probe into MoviePass parent company for allegedly misleading investors

The New York Attorney General Barbara Underwood has opened a probe into MoviePass parent company Helios and Matheson, a source familiar with the matter told CNBC. The attorney general’s office is investigating whether the company mislead the investment community regarding the company’s financials, the source said. The investigation is in the early stages. This story is developing. Please check back for updates. Source: CNBC

Watch what happens when a small drone hits a plane at 238 miles per hour

Researchers at the University of Dayton Research Institute are showing what can happen when a small drone strikes the wing of an aircraft. The team mimicked a collision between a 2.1-pound DJI Phantom 2 quadcopter and a Mooney M20 aircraft. Video shows the drone ripping through the plane’s wing in conditions that simulate a crash taking place at 238 miles per hour. « We wanted to help the aviation community and the drone industry understand the dangers that even recreational drones can pose to manned aircraft before a significant event…