Cramer Remix: Adobe and Costco are broken stocks, not broken companies

Pessimism among investors shouldn’t deter people from carefully buying shares of high-quality companies that have endured massive declines, CNBC’s Jim Cramer said Friday after a widespread sell-off in the stock market. div > div.group > p:first-child »> On Thursday, survey results from the American Association of Individual Investors showed that pessimism among retail investors was at its worst in some 5½ years, a symptom of the market’s volatility in recent months. But Cramer, a longtime stock-picker whose mantra is « there’s always a bull market somewhere, » urged investors «…

A 10% rally for the S&P 500 is possible by year-end: Fundstrat’s Tom Lee

There’s still time for the S&P 500 to catch a 10 percent rally going into the new year, Fundstrat Global Advisors’ Tom Lee told CNBC Friday. div > div.group > p:first-child »> « Obviously we’re working with a really short time frame, but we know that markets have been moving very quickly in the last couple of months, » the managing partner and head of research said on « Fast Money. » « I think, to me, anything that happens between now and year-end is a lot more about positioning…

Google is selling the Home Hub and two Home Mini speakers for just $129

Google just launched an aggressive deal that might be all many people need to outfit their house or apartment with Google Assistant this holiday season. For a limited time, the company is selling a Home Hub smart display and two Home Mini smart speakers at a total price of $129. The Hub ordinarily retails for $149, with the speakers going for $49 each. Obviously both products have been discounted at times during the holiday season — including right now at various retailers. But this bundle from the Google Store seems…

Top VC deals: Plaid is worth $2.65 billion; The Riveter raises capital to expand women’s coworking

SoftBank’s Vision Fund and Alibaba Group led a $1.1 billion financing round in Indonesian e-commerce firm Tokopedia. The company operates Indonesia’s largest marketplace for physical and digital goods and offers digital financial services. div > div.group > p:first-child »> Fintech company Plaid announced a $250 million funding round, led by Kleiner Perkins’ partner Mary Meeker, who will also be joining Plaid’s board. Andreessen Horowitz and Index Ventures were among the new investors, while early backers Goldman Sachs, NEA and Spark Capital also participated. The deal values Plaid at $2.65 billion,…

Amazon has explored getting into consumer health diagnostics — testing for disease at home

Amazon’s secretive special projects group has considered products for consumers to conduct medical tests in the home, which could take the company into the health diagnostics space, according to a person familiar with the company’s plans. div > div.group > p:first-child »> Two people say the company was in discussions this year to buy a venture-backed diagnostics start-up called Confer Health, but those talks did not result in a deal. According to its web site, Confer develops hardware for at-home tests starting with fertility and infections like strep throat. Their…

TPG and Intel in talks to sell McAfee to Thoma Bravo for significantly more than $4.2 billion

Private equity firm Thoma Bravo is in early discussions to acquire security software company McAfee from TPG and Intel for a significant premium over the company’s 2016 $4.2 billion valuation, according to people familiar with the matter. div > div.group > p:first-child »> Talks may still fall apart and a deal announcement isn’t expected soon, said the people, who asked not to be named because the discussions are private. McAfee, founded by John McAfee in 1987, historically developed cybersecurity software for personal computers and servers, protecting users from malware and…

Apple’s $1 billion Austin campus is the latest big investment from top tier firms: Texas governor

Major corporations such as Apple, which just announced a $1 billion investment into a new Austin campus, are buying into Texas, Gov. Greg Abbott told CNBC Friday. div > div.group > p:first-child »> The iPhone maker promises to develop a 133-acre complex to hold 5,000 employees, with room for an additional 10,000 more. It will be situated within a mile of Apple’s existing facility in the Texas capital. The Republican Abbott shrugged off Amazon’s decision last month to pass on cities in his state in favor of locating its second…

Google and Amazon will launch Apple AirPods competitors next year, top analyst says

TF International Securities analyst Ming-Chi Kuo, who has accurately predicted Apple’s product launches, recently said he believes that Amazon and Google will launch products to compete with Apple’s AirPods some time during the second half of 2019. div > div.group > p:first-child »> Earlier this month, Kuo said AirPods are Apple’s most popular accessory ever. « We believe that AirPods’ success has drawn Google and Amazon’s attention and these two companies will launch AirPod-alike products in 2H19. The combined shipments of two brands will likely reach 10-20mn units in 2H19,…

American execs in China privately express fears of retaliation for Huawei arrest

A partner for a large New York law firm returned from a business trip to China just before Thanksgiving, shortly before the arrest of Huawei CFO Meng Wanzhou in Canada Dec. 1. div > div.group > p:first-child »> Asked by CNBC on Thursday if he’d like to comment on the arrest and its effect on his future China travel plans, the lawyer had two very different responses. « On the record? Of course, business is continuing as normal. Our relationships over there remain rock solid, and this case has no…

Bank analyst rips Robinhood’s new savings account plan, says regulators may get involved

Robinhood launched new accounts with an eye-popping interest rate this week. But one Wall Street analyst says the products could backfire with regulators. div > div.group > p:first-child »> The fintech start-up is offering what seems designed to look like a bank, UBS analyst Brennan Hawken said in a note to clients Friday. But that’s part of the problem. « The details of this product are thin, since it actually is launching in early 2019, but based on what we understand, it seems to be a potentially risky ploy that…

Adobe trades lower on concerns over Marketo acquisition

Adobe stock dropped as much as 5 percent in a down market for tech stocks on Friday, a day after reporting better-than-expected earnings for the fourth quarter of its 2018 fiscal year. Investors are concerned about the $4.75 billion acquisition of Marketo diluting earnings, as well as a write-down of some assets from the deal. div > div.group > p:first-child »> The company beat expectations on the top and bottom lines, excluding the impact of Marketo. Adobe reported $1.90 in earnings per share, excluding certain items, on $2.46 billion in…

Instagram will start telling brands which products users bookmark

One year after forming a team to develop shopping specific features, Facebook’s Instagram is now beginning to develop analytics tools that brands could eventually use for ad targeting. div > div.group > p:first-child »> Instagram last month introduced a tool that lets users bookmark products they find on the social network. Now, Instagram is working on an insight tool that will show brands which of their items users are saving, said Layla Amjadi, Instagram product manager. Instagram intends to release this feature within the first half of 2019. « It’s…

Joe Lieberman joins China’s ZTE to ease national security concerns amid lawmakers distrust

ZTE has reportedly hired former Sen. Joe Lieberman to help the Chinese telecom giant allay fears in Washington that it poses a threat to national security. He will spearhead an assessment of its products, as the company tries to ensure U.S. officials that it is not a spy for the Chinese government. div > div.group > p:first-child »> Politico reported Thursday evening that the hire makes Lieberman the third former U.S. lawmaker working for ZTE in Washington. Former Sen. Norm Coleman, R-Minn., and ex-Rep. Jon Chistensen, R-Neb., had also been…

Facebook says a bug affecting up to 6.8 million users exposed photos they hadn’t shared

A Facebook bug exposed photos from up to 6.8 million users using third-party apps, the company disclosed Friday. The exposed photos include those that users never finished sharing to the site, Facebook said. div > div.group > p:first-child »> The disclosure is one of several privacy breaches the company has shared over the past year. In March, reports from the New York Times and the Guardian shed light on how Cambridge Analytica used data on Facebook users to influence the 2016 U.S. presidential election. In September, it announced a security…

Google brings its shopping service to India, tapping into the country’s digital boom

Google has launched its shopping aggregator service in India, in a bid to take advantage of the country’s booming digital economy. div > div.group > p:first-child »> The tech giant said Thursday that Indian shoppers will now be able to browse deals using its Google Shopping home page, a mobile-friendly web app, a new « shopping » tab on its search engine and its image recognition app Google Lens. Google’s shopping tool lets users search for deals on a variety of products from numerous retailers. According to CNN, Amazon and…

Not enough people are asking if artificial intelligence should be built in the first place

This story originally ran on Medium on December 7, 2018. The rise of Apple, Amazon, Alphabet, Microsoft and Facebook as the world’s most valuable companies has been accompanied by two linked narratives about technology. One is about artificial intelligence — the golden promise and hard sell of these companies. A.I. is presented as a potent, pervasive, unstoppable force to solve our biggest problems, even though it’s essentially just about finding patterns in vast quantities of data. The second story is that A.I. has a problem: Bias. The tales of bias…

New Zealand criticizes Google for revealing identity of backpacker murder suspect

Google will meet with New Zealand’s Justice Minister on Tuesday, after he lashed out at the search engine platform said the tech giant could be prosecuted for naming the suspect in backpacker Grace Millane’s murder. div > div.group > p:first-child »> Internet users in the country searched the suspect’s name more than 100,000 times after a Google trending alert revealing his identity was sent to subscribers, the New Zealand Herald reported. The 26-year-old man accused of murdering the British backpacker had applied for name suppression in compliance with New Zealand…

Twilio’s 300% surge this year has been a windfall for 107-year-old venture firm Bessemer

In a year that’s featured the high-profile market debuts of Dropbox, Spotify and DocuSign, as well as numerous multibillion-dollar software acquisitions, one of the most lucrative deals was the decision by Bessemer Venture Partners to hang onto its Twilio shares. div > div.group > p:first-child »> Twilio, whose software powers the communications systems used by Airbnb, Salesforce and Nordstrom, went public in mid-2016. But 2018 will go down as the year that the company truly resonated with investors. As of Thursday’s close, the stock is up over 300 percent for…

The parts in an iPhone came from all over the world — here’s a look at each iPhone’s complex journey

The design of every new iPhone starts at Apple’s headquarters in Cupertino, California, but the resources needed to make this design a reality come from all over the world. div > div.group > p:first-child »> Apple said it sold its 2 billionth iOS device this year. To make this many devices requires an incredibly complex and far-reaching supply chain. Apple works with suppliers in 43 countries and six continents to make its products, and the chain gets even more complicated when you break it down into raw materials. Apple posts…

Tesla will revolutionize consumer buying habits like Amazon and Apple, analyst says

Wedbush Securities began coverage of Tesla shares on Friday with an outperform rating, saying Elon Musk’s electric vehicle and energy storage company is now in the top echelon of 21st century technology companies. div > div.group > p:first-child »> « Tesla has evolved into one of the most dynamic technology innovators over the last 30 years and, in our opinion, has put itself into an esteemed category of companies such as Apple and Amazon that have revolutionized consumer buying habits and behaviors over the last decade, » Wedbush analyst Daniel…

Top Apple analyst Kuo slashes Apple iPhone shipment estimates by 20%

Ming-Chi Kuo of TF International Securities, the most widely followed Apple analyst on Wall Street whose calls typically move the stock, says demand for iPhones is falling way short in a new note Friday. div > div.group > p:first-child »> Here are his new forecasts: Slashing iPhone shipment estimate for the first quarter 2019 by 20 percent to a range of 38 million to 42 millionHe estimates 2018 iPhone shipments of 205 million to 210 million.2019 iPhone shipments will decline 5- to 10-percent from 2018 to a range of 188…

China could surpass the US in artificial intelligence tech. Here’s how

Still, China is not yet the dominant force in the world of AI. « The innovation is still coming from the U.S. and that’s thanks to, obviously, a huge network of universities that are fed by the world’s greatest talent — not just Chinese engineers coming to the U.S., and computer scientists, but also from India and everywhere else, » Ben Harburg, managing partner at MSA Capital, told CNBC at the East Tech West conference last month. « That advantage, for the next few years at least, stays with the…

Cramer Remix: While these stocks represent good value, they won’t be going higher soon

The bank stocks and the oil plays are so beaten-up that CNBC’s Jim Cramer can’t recommend them to investors, even as his positive long-term outlook for the sectors is still intact, he said Thursday. div > div.group > p:first-child »> « If you own the oils or the banks, it’s hard not to feel like an idiot, » he said Thursday on « Mad Money. » « There’s no catalyst in the near-term or medium-term future to change this. » Right now, Wall Street is making the call to shed…

Adobe CEO on Magento, Marketo deals making ‘only comprehensive platform’ for enterprise marketing

With its acquisitions of Magento Commerce and Marketo, Adobe has officially become the « only » one-stop shop for both consumer- and business-facing enterprises, CEO Shantanu Narayen told CNBC on Thursday. div > div.group > p:first-child »> « When you think about what Magento does, it really completely closes the loop with respect to everything we’ve been doing for [business-to-consumer] companies in terms of having the leading commerce solution, and that’s off to a great start, » Narayen told Jim Cramer in an exclusive « Mad Money » interview after…

Billionaire Richard Branson’s advice for the ‘extraordinary’ Elon Musk: Don’t burn yourself out

Billionaire Richard Branson has some advice for Tesla CEO Elon Musk. div > div.group > p:first-child »> Musk, whose behavior has come under scrutiny this past year, admitted recently that he has been working long hours to keep the electric car company alive. « The only advice I’d give him is not to burn himself out. Delegate, surround himself with really good people, » Branson told CNBC on Thursday. Branson also cautioned Musk on his social media habits. Tweeting at 3 in the morning « can be quite dangerous, »…

Wall Street’s bitcoin bull Tom Lee: ‘We are tired of people asking us about target prices’

The best-known bitcoin bull on Wall Street is getting tired of forecasting short-term prices. div > div.group > p:first-child »> For the last time this year, co-founder of Fundstrat Global Advisor Tom Lee updated his estimate for what a fair price for bitcoin should be: Between $13,800 and $14,800. The model still puts bitcoin about $10,000 above where the world’s largest cryptocurrency was trading Thursday. « Given we are so close to year-end, we are not providing any updates to near-term price objectives—read this as, we are tired of people…

Richard Branson hopes to head to space next year and says tourists will go ‘quite soon after’

Billionaire founder Richard Branson tempered his expectation for when his first flight to the edge of space will happen, hours after his space tourism company Virgin Galactic launched its first commercial astronauts on Thursday. div > div.group > p:first-child »> « I would hope some time in the middle of next year I will be going up and then quite soon after that the public will go up, » Branson said on CNBC’s « Power Lunch. » But Branson hedged his bets. He noted that he’s often given optimistic timelines…

Apple can still get more people to buy its services even if iPhone sales fall: Tech analyst

Apple can still get more people to buy its services even if consumers aren’t buying as many new iPhones as in years past, Macquarie Group analyst Ben Schachter told CNBC on Thursday. div > div.group > p:first-child »> That’s because, to an extent, the tech giant’s services business is independent of its unit sales, he said. « If someone has an older iPhone, they can still access the services, » especially in the developing Chinese and Asian markets, Schachter said on « Squawk Alley. » « They’re able to sell…

Starbucks partners with Uber Eats to deliver lattes, Frappuccinos to customers

Starbucks is the latest restaurant company to get into delivery. div > div.group > p:first-child »> The coffee giant said Thursday it would partner with Uber Eats to bring its lattes to customers’ doors. « In locations where drive-thru isn’t feasible we are testing platforms like delivery, » Roz Brewer, chief operating officer, said. Starbucks already has a delivery program in China, which caters to 2,000 stores across 30 cities. Through Uber Eats, the company expects to bring Starbucks Delivery to about a quarter of its U.S.-based, company-owned stores by…

YouTube removed 1.6 million channels last quarter, mostly for being ‘spam or scams’

Google’s battle against inappropriate content on its video platform rages on. div > div.group > p:first-child »> YouTube removed 7.85 million videos and 1.67 million channels between July and September, according to its latest YouTube Community Guidelines enforcement report. This is the fourth of such reports YouTube has published, but the first that includes information about removing channels, versus just individual videos. YouTube will delete a channel entirely if it receives three strikes within three months or commits a single egregious violation, like child sexual exploitation. The most high-profile removal…