Cramer: Why investors can trust that Nvidia’s stock is bottoming

Investors can trust that Nvidia’s stock has bottomed following its upbeat earnings report for a few key reasons, CNBC’s Jim Cramer said Friday after the chipmaker’s shares gained 1.82 percent. div > div.group > p:first-child »> The first is CEO Jensen Huang’s own outlook for his industry, which he put quite simply on the post-earnings conference call: « The world needs more computing. » « That simple statement is the main reason why I believe Nvidia can ultimately turn things around, » Cramer said on « Mad Money. » Following…

New York’s image is ‘a bit tarnished’ after Amazon exit, says business group CEO

When it comes to luring business to New York, the city may take a hit after Amazon announced it was ditching its plans to build half of its East Coast headquarters there, the head of a local business group told CNBC on Friday. div > div.group > p:first-child »> « New York’s image as a place to do business is a bit tarnished and there’s uncertainty in the minds of business, which they don’t like, about whether or not they will locate here, » said Kathryn Wylde, CEO of Partnership…

Apple buys AI voice startup that helps companies build Alexa and Google Assistant apps

Apple has acquired a San Francisco-based artificial intelligence startup called PullString that specializes in helping companies build conversational voice apps, according to a report from Axios. Pullstring was founded back in 2011 by former Pixar employees — its CEO, Oren Jacob, is Pixar’s former chief technology officer. Up until now, PullString was most well known within the tech industry as the software backbone behind voice systems for popular toys, like Mattell’s talking Hello Barbie doll. It’s not clear what Apple will be getting out of the deal, which is said…

Uber sues New York City over ruled that capped ride-hailing driver licenses

Uber sued New York City on Friday over the City Council’s vote last August to impose a year-long cap on new licenses for ride-hailing vehicles. Uber’s lawsuit seeks to reverse the cap and allow new licenses again. div > div.group > p:first-child »> New York’s cap was designed to limit the number of vehicles on the road, reducing congestion and helping taxi drivers, who say their livelihoods were hurt by the influx of ride-haling drivers in the city. It also allowed the state of New York to set a minimum…

Epic CEO Judy Faulkner: We would never sell to Apple

Most CEOs would not balk at the idea of Apple buying their company. div > div.group > p:first-child »> But Epic Systems CEO Judy Faulkner is not like most CEOs. In January, CNBC’s Jim Cramer suggested that Apple should consider buying Epic, one of the largest private health IT companies in the world. The move would help Apple convince customers and investors that it’s serious about health care, as Epic sells its medical record software to many of the largest hospitals in America. But a buyer needs a seller, and…

Apollo affiliates to buy stake in Cox Media Group TV stations

Apollo Global Management will buy a majority stake Cox Media Group’s broadcast TV stations, Cox announced Friday. div > div.group > p:first-child »> Here is the full announcement from Cox: Cox Enterprises Inc. today announced that it has reached an agreement with funds (the « Apollo Funds ») managed by affiliates of Apollo Global Management, LLC (together with its consolidated subsidiaries, « Apollo ») (NYSE: APO) to buy a majority interest in Cox Media Group’s broadcast television stations, including the company’s radio, newspaper and TV properties in Ohio. Cox Enterprises…

‘Million Dollar Listing’ agent Ryan Serhant: Buyers are ‘freaking out’ about Amazon ditching NYC

Developers and speculators — who bought property on the promise of Amazon’s planned New York City headquarters — are « freaking out, » now that the e-commerce giant pulled out of the deal due to local opposition, luxury real estate agent Ryan Serhant told CNBC on Friday. div > div.group > p:first-child »> « Was I dumbfounded that New York politicians were going to ruin it for everyone? No. Was it an exhausting day yesterday? Yes, » said Serhant, who runs a team of agents at Nest Seekers International. He…

Small banks you’ve never heard of are quietly enabling the tech takeover of the financial industry

Instead of trying to beat a wave of high-growth financial technology startups at their own game, a group of small banks is opting to join them. div > div.group > p:first-child »> These low profile community banks quietly run the plumbing underneath billion-dollar fintech firms like Square, Stripe and Robinhood — handling mundane banking activities for them like holding customer deposits and underwriting loans — while the tech firms remake finance for a digital age. For some, it’s a match made in heaven. These smaller banks, with names like Cross…

China’s pouring serious money into potential rivals of SpaceX and Blue Origin

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin have long dominated the news with their respective advances in private space travel industry. But two private Chinese companies are also making big moves and gaining billions in investments as China’s state space agency announces its own ambitious goals. Here’s what’s going on in the global space race. div > div.group > p:first-child »> Source: CNBC

Nest is locking users out of their accounts if it thinks their passwords have been breached

Nest, the smart home company owned by Google, is proactively locking people out of their accounts if it believes their passwords have been compromised. The company began sending out emails to affected users last night. If you’ve been affected, you’ll need to tell your Nest app to forget your current password and enter a new one. The standard response to this type of breach, which Nest recently used, following reports of strangers hijacking people’s security cameras, is to email any users who are affected when a breach has occurred and…

Amazon reportedly held last-minute meetings with union and local officials before canceling HQ2

Amazon held 11th hour meetings with New York and trade union officials before pulling the plug on its Long Island City headquarters, according to reports by Bloomberg and The New York Times. div > div.group > p:first-child »> Amazon executives met on Wednesday morning with union officials from the Retail Wholesale and Department Store Union as well as the AFL–CIO, a national federal of more than 50 labor unions, according to the reports. New York Governor Andrew Cuomo facilitated and hosted the meeting, the reports say. « It was a…

Alphabet’s Sidewalk Labs wants a cut of Toronto taxes to build a smart city there

Alphabet’s Sidewalk Labs proposed taking a portion of Toronto property taxes, development fees and increased land value to build a smart city on the eastern waterfront, The Toronto Star reported. div > div.group > p:first-child »> According to internal documents obtained by the Star, Sidewalks Labs plans to argue it is « entitled to … a share in the uptick in land value on the entire geography … a share of developer charges and incremental tax revenue on all land. » This money, which would amount to an estimated $6…

Apple reportedly bought an AI marketing start-up as it looks for opportunities beyond the iPhone

Apple has acquired AI-assisted marketing startup DataTiger, according to Bloomberg. div > div.group > p:first-child »> Founded in 2017 and based in London, DataTiger says it sells software services that provide artificial intelligence-assisted marketing. Apple has continued to focus more on selling services, not just hardware products like iPhones, and it may be looking for new ways to tell consumers about what it offers. Apple is planning to launch a new video streaming product in April, for example, which might launch in tandem with an Apple News subscription service. The…

Amazon is rapidly expanding its air fleet to handle more shipping, but FedEx isn’t worried

Fitzgerald pointed out that FedEx has 700 planes, while Amazon only has 40. « In a given week, Amazon flies 671 flights. The FedEx number of flights per week is closer to 13,000, » Fitzgerald said. « Amazon is a revolutionary e-commerce company, but that doesn’t mean that Amazon can just suddenly decide to become competitive with FedEx in transportation. » Even losing Amazon’s business wouldn’t be that big a deal for FedEx, Fitzgerald claims. « Amazon is a longtime customer of ours. We’re proud of the partnership, but they’re…

Chinese ride-hailing giant Didi to lay off 15% of its workforce

Chinese ride-hailing giant Didi Chuxing is planning to lay off about 2,000 people, or 15 percent of its workforce, this year, a source familiar with the situation said Friday. div > div.group > p:first-child »> That confirmed earlier Chinese media reports that Didi CEO Cheng Wei said in an internal meeting Friday that the company is preparing for difficult times. Didi declined to comment to CNBC. Didi is ultimately planning to hire about 2,500 employees this year in areas such as safety, technology and offline management operations, according to the…

WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The ongoing U.S.-China trade fight, Washington’s sanctions against Chinese telecommunications company ZTE as well as the arrest of Huawei CFO Meng Wanzhou were among the « sensitive » topics censored on Chinese tech giant Tencent’s WeChat platform in 2018. div > div.group > p:first-child »> That’s according to a report published Monday by WeChatscope, a team of researchers from The University of Hong Kong’s Journalism and Media Studies Centre that describes itself as a group aiming to « make censored articles of WeChat’s public accounts in China open access. »…

Cramer Remix: CenturyLink’s slashed dividend isn’t a huge surprise

If you ask CNBC’s Jim Cramer, reaching for a stock’s dividend yield is one of the dumbest mistakes an investor can make. div > div.group > p:first-child »> « If you see a stock sporting a yield that’s well in excess of what you can get elsewhere, I think you should be skeptical, » he said Thursday on « Mad Money. » « Most likely, it’s not a bargain, it’s a sign that the dividend is going to be cut. » Cramer flagged the cautionary tale of the stock of…

A ‘sad day’ for New York: Democratic congressman says Amazon backed out of HQ2 deal ‘too quickly’

New York is missing out on billions of dollars in investments now that Amazon has canceled plans to add corporate offices in the borough of Queens, Rep. Gregory Meeks, D-N.Y., told CNBC on Thursday. div > div.group > p:first-child »> « I think it’s a sad day for New York, » the congressman said on « Closing Bell. » « This was a long-term investment in the city. » The development would have included 25,000 jobs — many paying $150,000 or more — that could have diversified New York’s economy…

Twilio and SendGrid CEOs explain how deal will help them serve customers like Airbnb

Twilio’s $2 billion purchase of SendGrid will be a « one plus one equals five » situation as the companies merge their operations to better serve their customers, SendGrid’s CEO told CNBC in a joint interview with the CEO of Twilio. div > div.group > p:first-child »> « We believe companies like Airbnb and the 140,000 other … total companies that we serve in our Twilio family now, they’re going to need an ability to orchestrate communications, different ways to engage with their users, over a myriad of channels, »…

The market’s ‘safe’ stocks might not be so safe anymore, Jim Cramer says

The action in two key stocks — Coca-Cola and Cisco Systems — is telling CNBC’s Jim Cramer that the stocks people have long deemed to be « safe » investments might not be so safe anymore. div > div.group > p:first-child »> « The message of today is simple: old-time safety can be illusory, » Cramer said as stocks fell on weak retail data. « The consumer packaged goods companies are a lot more economically sensitive than [some] of these terrific, enterprise-oriented technology plays. That’s the new normal. » The…

Facebook is negotiating with FTC to pay multibillion-dollar fine tied to Cambridge Analytica : WaPo

Facebook and the Federal Trade Commission are reportedly negotiating what could be a multibillion-dollar fine related to the Cambridge Analytica data scandal, according to the Washington Post. div > div.group > p:first-child »> The two sides are still negotiating details, the paper reported, but a settlement penalty in the billions of dollars would be by far the largest fine ever imposed by the FTC against a technology company. The agency’s biggest fine against a tech company to date came in 2012, when Google agreed to pay a $22.5 million penalty…

Pressure mounts on Facebook and Google to stop anti-vax conspiracy theories

As a measles outbreak continues to spread in Washington state, Facebook is “exploring additional measures” to fight false anti-vaccine content on the platform, Bloomberg reports. The news comes on the heels of criticism from Representative Adam Schiff, who sent Facebook CEO Mark Zuckerberg a letter about vaccine misinformation on Facebook and Instagram today. In the letter, first reported by Bloomberg’s Sarah Frier, Schiff voiced concerns that both Facebook and Instagram serve up misleading, fear-mongering content about vaccines, which have been shown to be safe, effective, and critical for public health.…

CBS reaches its 8 million streaming subscribers goal two years early

CBS now has 8 million streaming subscribers, the company announced in its fourth quarter 2018 earnings report Thursday. div > div.group > p:first-child »> At a time where numerous media companies are trying to get into the streaming business and ramp up their original direct-to-consumer content, CBS’ disclosure shows it has already been able to gain some traction. The company said it hit the landmark two years ahead of schedule. The subscriber number accounts for consumers of both CBS All Access and Showtime. CBS said its next goal is to…

New York will lose the bulk of the 25,000 jobs that were promised by Amazon HQ2

Most of the 25,000 jobs that were supposed to come to Amazon’s HQ2 in New York City will now go elsewhere, now that Amazon has announced it’s backing out of its agreement with the city. div > div.group > p:first-child »> Amazon’s spokesperson told CNBC on Thursday that the bulk of the 25,000 jobs that the company had promised to create in New York City for HQ2 will now go to other corporate offices and tech hubs owned by Amazon across 17 North American cities, including Boston, San Francisco and…

Nvidia set to report earnings after the bell

Chipmaker Nvidia will announce earnings for the fourth quarter of its 2019 fiscal year after market close on Thursday. Executives will discuss the results with analysts on a conference call at 5:30 p.m. Eastern time. div > div.group > p:first-child »> Here are the key numbers: Earnings: 75 cents per share, excluding certain items, as expected by analysts, according to Refinitiv.Revenue: $2.20 billion as expected by analysts, according to Refinitiv. The revenue estimate for the quarter, which ended on Jan. 27, implies a 24 percent decline from a year earlier…

Walmart puts trailers full of VR tech in its parking lots, with plans to bring it to stores

Walmart over the next few weeks will be bringing 50-foot tractor-trailers to the parking lots of some of its stores to let customers experience DreamWorks Animation’s « How to Train Your Dragon » using virtual reality technology. div > div.group > p:first-child »> Wearing a VR headset and sitting in VR-powered chairs, users will be able to see and feel — and even smell — like they are in the DreamWorks film. This is just the first application by Walmart of Spatial&, a VR tech company that’s been growing in…

Facebook security uses a ‘lookout’ list to keeps tabs on users and ex-employees who may be threats

In early 2018, a Facebook user made a public threat on the social network against one of the company’s offices in Europe. div > div.group > p:first-child »> Facebook picked up the threat, pulled the user’s data and determined he was in the same country as the office he was targeting. The company informed the authorities about the threat and directed its security officers to be on the lookout for the user. « He made a veiled threat that ‘Tomorrow everyone is going to pay’ or something to that effect,…

NASA chief Bridenstine talks SpaceX and Boeing, returning to the moon and life on Mars

The U.S. government is relying more than ever on private companies to explore and develop technology in space, whether its reaching the International Space Station, returning to the surface of the moon or getting humans to Mars for the first time. div > div.group > p:first-child »> NASA is focused on using partnerships with companies like SpaceX and Boeing, rather than contracting and operating the rockets and spacecraft itself. NASA Administrator Jim Bridenstine spoke with CNBC’s Jane Wells about the key programs to the future of U.S. space exploration while…

Cisco is taking on Huawei globally and winning its share of deals, CEO Chuck Robbins says

If Cisco CEO Chuck Robbins is worried about China’s Huawei, he’s doing a good job hiding it. div > div.group > p:first-child »> Robbins told CNBC’s Jim Cramer on Thursday, following his company’s better-than-expected quarterly earnings report, that in markets where Cisco and Huawei go head-to-head selling networking equipment, his company is winning it share of deals. « We haven’t seen any material impact from all of the noise in the system around this topic, » Robbins said. « If you look at the numbers and you look at our…

Google knocks out Amazon as Citi’s top pick for US internet companies

Google parent company Alphabet is now Citi’s top pick for U.S. internet companies, knocking Amazon out of the top spot. div > div.group > p:first-child »> In a note published early Thursday morning, Citi gave Alphabet a buy rating and said it has moved to its number one position because it has shown « [c]ontinued strong topline growth » specifically in mobile search and YouTube. Citi analysts also noted Alphabet’s increased buybacks. Citi said the stock’s valuation « more than offset continued margin pressures, » and added that management has…