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Qualcomm
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https://www.cnbc.com/2025/04/30/qualcomm-qcom-earnings-report-q2-2025.html?&qsearchterm=Qualcomm
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Qualcomm tops estimates but gives light revenue forecast
| 2025-04-30T00:00:00
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Qualcomm CEO Cristiano Amon responds to a question during a keynote conversation at CES 2024, an annual consumer electronics trade show, in Las Vegas, Nevada, on Jan. 10, 2024.
Qualcomm reported fiscal second-quarter earnings on Wednesday that topped Wall Street expectations as the company's chip sales showed strong year-over-year growth.
The company's share price fell in extended trading as Qualcomm's revenue forecast for the current quarter was slightly lighter than expectations.
Here's how the chipmaker did compared to Wall Street expectations, based on a survey of analysts by LSEG:
Earnings per share : $2.85 adjusted vs. $2.82 expected
: $2.85 adjusted vs. $2.82 expected Revenue: $10.84 billion adjusted vs. $10.66 billion expected
In the current quarter, Qualcomm said it expected $2.70 at the midpoint in adjusted earnings per share on $10.3 billion in revenue at the midpoint. Analysts polled by LSEG were looking for $2.67 in adjusted earnings on $10.35 billion in sales.
Net income during the quarter ending in March was $2.81 billion, or $2.52 per share, compared to $2.33 billion, or $2.06 per share, in the year-ago period. Qualcomm's adjusted results include exclusions for acquisition-related charges, interest expenses and share compensation.
Qualcomm said that it doesn't currently expect any material impact from tariffs, and that it had not seen elevated buying of its products ahead of tariffs during the quarter.
"One thing to remember is when you look at our supply chain, we have a very diversified global supply chain," Qualcomm finance chief Akash Palkhiwala said on the earnings call.
"As we navigate those times, this is a company that is not inexperienced dealing with uncertainty," Qualcomm CEO Cristiano Amon said on the call.
Qualcomm's most important business is selling chips such as modems and processors for smartphones, including high-end devices made by Samsung and Apple . Its overall handset chip sales increased 12% on an annual basis to $6.93 billion. Qualcomm's overall adjusted revenue in the quarter rose 15%.
Amon said the company has been working to sell more chips for cars through its automotive business, more chips for other gadgets like Meta's Quest virtual-reality headsets and more Windows PCs under Qualcomm's Internet of Things business. Growth in those categories signals how well the company is diversifying away from its core handset business, which expects to lose Apple as a customer in the coming years.
"Our top priorities remain executing our diversification strategy and continuing to invest in areas that drive long-term value," Amon said in a statement.
Qualcomm said that its automotive business grew a 59% on an annual basis, to $959 million in sales. Its Internet of Things business rose 27% to $1.58 billion in revenue.
All together, Qualcomm's QCT chips business rose 18% on an annual basis to $9.47 billion in revenue during the quarter.
Qualcomm's other major division is QTL, which is a profitable division that collects licensing fees from technology that Qualcomm developed and patented. QTL revenue was flat year-over-year at $1.32 billion.
The company said it spent $2.7 billion on capital return during the quarter, including $1.7 billion in share repurchases and $938 million in dividends.
WATCH: Microsoft beats on revenue expectations, Qualcomm tops estimates but gives light guidance
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Qualcomm
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https://www.cnbc.com/video/2025/05/19/qualcomm-ceo-cristiano-amon-on-tariffs-and-china.html?&qsearchterm=Qualcomm
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Qualcomm CEO Cristiano Amon on tariffs and China
| 2025-05-19T00:00:00
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Qualcomm CEO Cristiano Amon on tariffs and China
Cristiano Amon, CEO of Qualcomm, discusses tariffs and the China market for his business.
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Qualcomm
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https://www.cnbc.com/video/2025/05/19/qualcomm-to-launch-data-center-cpus-that-link-to-nvidia-chips.html?&qsearchterm=Qualcomm
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Qualcomm to launch data center CPUs that link to Nvidia chips
| 2025-05-19T00:00:00
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Qualcomm to launch data center CPUs that link to Nvidia chips
Cristiano Amon, CEO of Qualcomm, talks to CNBC's Arjun Kharpal about the company's move into data center processors as part of a broader diversifcation push.
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BlackRock
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https://www.cnbc.com/2025/10/01/blackrock-may-be-nearing-a-38b-deal-for-aes-to-capitalize-on-ai-power-demand.html?&qsearchterm=BlackRock
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BlackRock may be nearing a $38B deal that would wisely capitalize on AI’s thirst for power
| 2025-10-01T00:00:00
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A new BlackRock deal could wisely position the asset manager to capitalize on surging demand for power as the generative AI boom shows no signs of slowing down. The news Global Infrastructure Partners (GIP), the infrastructure fund manager purchased by BlackRock, is nearing a $38 billion deal to acquire renewable power company AES , according to the Financial Times . If this were to happen, it would be one of the largest infrastructure takeovers in history. AES, a prominent utility in the U.S., owns and operates power plants across the globe. The firm has provided energy solutions for the world's largest tech companies, including Club holdings Amazon , Microsoft , and Meta Platforms , as each of them increases their artificial intelligence spending and looks to build more power-hungry data centers. The FT reported that takeover talks are in advanced stages, but a BlackRock-AES deal could still fall through. A GIP spokesperson denied CNBC's request for comment. Shares of AES surged more than 15% on Wednesday, making up for lackluster year-to-year trading. Club stock BlackRock fell 2% amid broader weakness in financials as the overall stock market weighed the implications of the government shutdown and September's much weaker-than-expected ADP report on hiring at U.S. companies. Still, BlackRock was just under 3% off Tuesday's record-high close of $1,175. The stock has increased about 11% in 2025, which slightly trails the S & P 500' s 13% advance. Big picture The FT report comes roughly a year after BlackRock completed its acquisition of GIP for $12.5 billion, which added $100 billion in client assets to BlackRock's existing $50 billion in client infrastructure assets under management. GIP's major investments include London's Gatwick Airport, major energy pipelines, and more than 40 data centers, BlackRock said in March. GIP was one of several acquisitions that have given BlackRock more exposure to private markets. Since the start of 2024, BlackRock has acquired private credit manager HPS Investment Partners for $12 billion and alternatives data provider Preqin for $3.2 billion. In fact, CEO Larry Fink previously forecasted that infrastructure would be one of the fastest-growing segments of private markets. He cited, in part, the data center buildout. "We're standing at the edge of an opportunity so vast it's almost hard to grasp. By 2040, the global demand for new infrastructure investment is $68 trillion," Fink said in his 2025 annual letter to investors. "To put that price tag in perspective, it's roughly the equivalent of building the entire Interstate Highway System and the Transcontinental Railroad, start to finish, every six weeks—for the next 15 years." Bottom line BlackRock would stand to benefit from an AES acquisition because it would expand the asset manager's reach in high-growth infrastructure. Increased AI infrastructure spending by Big Tech, such as energy-intensive data centers, has been a financial windfall for companies able to help meet surging power demand. Just look at fellow Club holding GE Vernova stock, which manufactures heavy-duty gas turbines that support these facilities. The industrial stock has gained 83% year-to-date. To be sure, we're by no means saying that BlackRock will turn into a data center play. Instead, the acquisition would diversify BlackRock's revenue streams further — so it could rely less on its traditional exchange-traded fund (ETF) business, which is massive. Plus, AES has been underperforming in 2025, as seen prior to Wednesday's session. That means it "could be a great deal for GIP to snap it up," Jeff Marks, director of portfolio analysis for the CNBC Investing Club, said Wednesday. After all, he added, "one of the strongest long-term themes in the market is power generation." (Jim Cramer's Charitable Trust is long BLK, GEV, META, MSFT, AMZN. 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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BlackRock
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https://www.cnbc.com/video/2025/09/12/blackrocks-rick-rieder-at-future-proof-what-portfolio-works-best-as-the-fed-cuts-rates.html?&qsearchterm=BlackRock
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BlackRock's Rick Rieder: What portfolio works best as the Fed cuts rates
| 2025-09-12T00:00:00
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BlackRock's Rick Rieder: What portfolio works best as the Fed cuts rates
Rieder, a widely followed investor on Wall Street, said in a panel at the Future Proof Festival in Huntington Beach, Calif.. that he's bullish on Big Tech and he's also been buying long-dated municipal bonds.
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BlackRock
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https://www.cnbc.com/video/2025/09/09/bkaclrocks-rick-rieder-on-markets-rates-the-fed-and-more.html?&qsearchterm=BlackRock
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BlackRock's Rick Rieder on markets, rates, the Fed and more
| 2025-09-09T00:00:00
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BlackRock's Rick Rieder on markets, rates, the Fed and more
Rick Rieder, CIO of Global Fixed Income at BlackRock, joins CNBC's "Halftime Report" to discuss a wide-ranging span of topics from the Market, the Fed, Rate Cuts and more.
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BlackRock
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https://www.cnbc.com/2025/09/08/falling-bond-yields-support-the-tech-trade-and-what-blackrocks-latest-deal-means-for-earnings.html?&qsearchterm=BlackRock
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Falling bond yields support the tech trade, and what BlackRock's latest deal means for earnings
| 2025-09-08T00:00:00
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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. Markets : The S & P 500 is slightly higher to start the week, although it is off its best levels of the session. The market is coming off a sharp downside reversal on Friday following the weak August jobs report, which may have locked in expectations for a rate cut at next week's Federal Reserve policy meeting. The 10-year Treasury yield is extending its post-jobs report decline below 4.1%, and technology stocks are leading the way on Monday, with Broadcom continuing its post-earnings rally. The AI chipmaker is up almost 3% in the session, bringing its two-day gains to roughly 13%. Our other chipmaker, Nvidia , is trading higher as well. It's been a tough stretch lately for Nvidia, with Monday marking only its second positive session out of the last eight, dating back to its earnings day on Aug. 27. The stock has struggled lately on concerns that custom AI chips from companies like Broadcom will eat into Nvidia's share of the massive AI compute and networking market. However, as we explained at length earlier Monday afternoon, we think there's more than enough business to go around for these two AI leaders. Separately, after our Broadcom-versus-Nvidia story published, CNBC reported Monday afternoon that Nvidia CEO Jensen Huang is traveling with President Donald Trump on a state visit to the U.K. next week. In recent months, Huang has been deftly managing the chipmaker's relationship with the White House amid Trump's tariff war and push to have more advanced chips made in the U.S. Earnings impact : On last Thursday's Homestretch , we mentioned how Citigroup is giving Club name BlackRock $80 billion of client assets. We're following up on the story because analysts at Cowen estimated on Monday that this win could add at least 25 cents to adjusted earnings per share once it is fully onboarded, before factoring in cross-sell opportunities. When considering that BlackRock is estimated to earn an adjusted $52.34 per share in 2026, according to FactSet, we're calling this a small, incremental win that adds validation to BlackRock's premier asset management story. Another follow-up: A partnership between Club name Meta Platforms and defense tech startup Anduril Industries was officially awarded a U.S. Army contract to develop combat goggles using virtual and augmented reality. Rivet Industries also was tapped by the Army to work on a design. We highlighted the announcement of the Meta-Anduril partnership back in May, noting how it could create a new revenue stream for Reality Labs down the road. It is unlikely to be a needle-mover anytime soon. However, given all the money that CEO Mark Zuckerberg has invested into AR and VR technology through his metaverse ambitions, any move the company makes in hardware is worth watching over the long term. Up next: There are no major earnings after the closing bell on Monday and before the opening bell on Tuesday. On the data side, on Tuesday we'll see the the NFIB small business optimism index. The week's most important economic reports come Wednesday and Thursday, with the release of August producer price index and consumer price index. (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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BlackRock
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https://www.cnbc.com/2025/09/12/blackrocks-rieder-the-latest-candidate-to-interview-in-fed-chair-search.html?&qsearchterm=BlackRock
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BlackRock's Rieder the latest candidate to interview in Fed chair search
| 2025-09-12T00:00:00
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Rick Rieder, BlackRock Senior Managing Director, Chief Investment Officer of Global Fixed Income, speaking at the Delivering Alpha conference in New York City on Sept. 28, 2023.
The White House search for the next Federal Reserve chair continues to twist and turn, with BlackRock bond chief Rick Rieder emerging as the latest hot candidate.
Administration sources tell CNBC that the asset management giant's chief investment officer of global fixed income interviewed Friday with Treasury Secretary Scott Bessent, the Trump administration's point man for Jerome Powell's successor.
"Whoever ends up being the Fed chair, there's so many innovative things," Rieder said Tuesday during a CNBC appearance.
The discussion with Rieder centered on monetary policy, as well as structural issues related to the central bank, sources said. Bessent has publicly stated that he wants to see not only new leadership at the Fed, but also fundamental changes in the way it operates.
Along with the Rieder interview, Bessent earlier this week spoke with former Fed Governors Kevin Warsh and Lawrence Lindsey, as well as James Bullard, who had served as president of the St. Louis Fed.
Trump has given little indication about his preference from a list reported to include 11 candidates, including past and present Fed officials, Wall Street strategists and prominent economists. Similar to Powell, Rieder would offer a departure from traditional central bank chiefs having PhDs in economics.
The Fed meets next week, with markets widely expecting the first interest rate cut since December 2024. Trump, though, has demanded larger cuts as he sees higher rates damaging the housing market and raising borrowing costs for the government.
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BlackRock
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https://www.cnbc.com/video/2025/09/03/blackrocks-gargi-chaudhuri-suggests-clients-move-their-attention-to-bonds-this-fall.html?&qsearchterm=BlackRock
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Blackrock's Gargi Chaudhuri suggests clients move their attention to bonds this fall
| 2025-09-03T00:00:00
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BlackRock
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https://www.cnbc.com/2025/08/22/where-this-blackrock-fund-manager-is-finding-opportunity-in-high-yield-bonds.html?&qsearchterm=BlackRock
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Where this BlackRock fund manager is finding pockets of opportunity in high-yield bonds
| 2025-08-22T00:00:00
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BlackRock's Mitchell Garfin is still finding areas of opportunity in a high-yield bond market that looks expensive. Some investors, like Pimco chief investment officer Dan Ivascyn , have been moving into higher-quality bonds amid economic uncertainty and what they see as the lack of reward for taking on risk. "I'm not too concerned about the overall state and health of the economy," said Garfin, co-head of U.S. leveraged finance at BlackRock. "Clearly we're going to need to see what the data looks like over the next few months, next few quarters. But given what we know now, we're still reasonably constructive on the market." Garfin, along with David Delbos, manages the $27.5 billion BlackRock High Yield Fund (BHYIX) , which has earned four stars from Morningstar. The fund's total returns over the trailing one-, three-, five-, 10- and 15-year periods have been in the top quartile of its peer group, per Morningstar. In June 2024, BlackRock launched an exchange-traded fund version of the offering, also actively managed by Garfin and Delbos. The iShares High Yield Active ETF (BRHY) has a 30-day U.S. SEC yield of 6.18% and a net expense ratio of 0.45%. BRHY mountain 2024-06-17 iShares High Yield Active ETF's performance since its June 14, 2024 inception. Garfin anticipates continued rockiness in the market as economic data comes out. However, he expects spreads will stay around these levels and said there may even be room from some spread tightening — although it won't be in a straight line. Spreads refer to the difference in yield between two bonds with different credit qualities. When spreads tighten, that means this difference in yield is shrinking. "We do think with monetary policy moving to an easing bias probably in September, maybe two or three eases for the balance of this year, that could further augment total return potential in our asset class," he said. On Friday, Federal Reserve Chair Jerome Powell indicated rate cuts may be possible, although he noted there has been a high level of uncertainty. Fed funds futures pricing data is now suggesting an 85% chance of a rate cut at the central bank's September meeting, according to the CME FedWatch tool . What Garfin likes right now The "sweet spot" right now within high yield is the B-rated portion of the market, Garfin said. The BlackRock High Yield Fund (BHYIX) currently has nearly 45% of its assets in B-rated bonds, as of July 31. "Higher quality credit BBs fundamentally [are] generally pretty sound, [with] strong and resilient balance sheets. The issue, however, is the relative value there," Garfin said. "As I think about what's the most efficient use of our clients' capital, it's investing in the mid-quality portion in the market." Bonds that are rated BB+ or lower at Standard & Poor's and Fitch, and Ba1or lower at Moody's, are considered high yield. In the CCC-rated, or lower quality, part of the market, Garfin is picking his spots and avoiding the more distressed parts. In addition to focusing on credit quality to find value, he also looks at specific sectors. These days, he's leaning into sectors that are not significantly affected by tariffs. One area he likes is technology — specifically on software companies. One of BHYIX's top holdings is in Cloud Software Group. The businesses "generally have fairly consistent cash flow generation, generally have very strong recurring revenue streams that allows these software companies to take on more debt," he explained. Garfin is also overweight insurance brokers, mainly in the property and casualty business. The sector has sticky revenue streams, fairly robust margins and strong free-cash-flow generation, he added. Insurance broker Hub International is among BHYIX's top holdings. Lastly, the aerospace and defense sector is attractive, thanks to its strong pricing power, Garfin said. "The backlog for manufacturing of aircraft is very, very high — out two, three, four years," he said. "So if you think about earnings power over that period of time, there's a real clear path to revenue generation and cash flow generation as a result of that.
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BlackRock
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https://www.cnbc.com/video/2025/08/12/watch-cnbcs-full-interview-with-blackrocks-rick-rieder.html?&qsearchterm=BlackRock
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Watch CNBC's full interview with BlackRock's Rick Rieder
| 2025-08-12T00:00:00
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Watch CNBC's full interview with BlackRock's Rick Rieder
Rick Rieder, BlackRock global fixed income CIO, joins 'Closing Bell' to discuss Rieder's thoughts on the current investing environment, if the Fed will cut rates in September and risks to equity markets.
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BlackRock
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https://www.cnbc.com/video/2025/08/12/blackrocks-rick-rieder-this-is-the-best-investing-environment-ever.html?&qsearchterm=BlackRock
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BlackRock's Rick Rieder: This is the best investing environment ever
| 2025-08-12T00:00:00
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BlackRock's Rick Rieder: This is the best investing environment ever
Rick Rieder, BlackRock global fixed income CIO, joins 'Closing Bell' to discuss Rieder's thoughts on the current investing environment, if the Fed will cut rates in September and risks to equity markets.
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BlackRock
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https://www.cnbc.com/2025/08/12/blackrocks-rick-rieder-says-cpi-gives-fed-justification-for-a-half-point-cut-in-september.html?&qsearchterm=BlackRock
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BlackRock’s Rick Rieder says CPI gives Fed justification for a half-point cut in September
| 2025-08-12T00:00:00
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Rick Rieder, BlackRock's chief investment officer for global fixed income, is sticking with his call for a jumbo rate cut from the Federal Reserve next month after new inflation data showed less-than-expected price pressures. "We expect the Fed to begin cutting rates in September, and it could be justified cutting the Funds rate by 50 basis points, to get it more aligned with longer-term inflationary expectations and some of the productivity enhancement we are seeing across multiple industries," Rieder said Tuesday in a note to clients. (1 basis point equals 0.01%.) A half-point cut in September would mirror the Fed's move in September 2024 when it began the easing cycle with a big rate reduction. His comments came after data showed the consumer price index increased a seasonally adjusted 0.2% for the month and 2.7% on a 12-month basis. The year-over-year rise was softer than a Dow Jones estimate of 2.8%. Rieder, a widely followed investor on Wall Street, had brought up the possibility of a half-point cut after July's jobs report released Friday signaled a dramatic slowdown in the labor market. BlackRock manages $3.1 trillion in fixed income assets on behalf of clients. "Today's inflation report was a bit stronger than we have seen over the prior few months, but lower than many have feared," Rieder said. "We are still heartened by the trajectory of some core areas of inflation that are running at lower levels than in the prior few years." Excluding food and energy, the core CPI increased 0.3% for the month and 3.1% from a year ago, compared with the forecasts for 0.3% and 3%. The monthly core rate was the biggest increase since January while the annual rate was the highest since February.
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S&P Global
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https://www.cnbc.com/video/2025/10/01/how-the-us-government-shutdown-impacts-economic-data.html?&qsearchterm=S
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How the U.S. government shutdown impacts economic data
| 2025-10-01T00:00:00
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How the U.S. government shutdown impacts economic data
CNBC's Steve Liesman reports on what to know about how the government shutdown impacts the U.S. Labor Department and economic data.
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S&P Global
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https://www.cnbc.com/video/2025/10/01/how-the-u-s-government-shutdown-may-impact-mortgage-rates.html?&qsearchterm=S
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How the U.S. government shutdown may impact mortgage rates
| 2025-10-01T00:00:00
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How the U.S. government shutdown may impact mortgage rates
CNBC's Diana Olick reports on how the U.S. government shutdown may impact mortgage rates and programs, including the FHA and VA.
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S&P Global
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https://www.cnbc.com/2025/10/01/how-a-us-government-shutdown-could-impact-global-markets.html?&qsearchterm=S
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How a U.S. government shutdown could impact global markets
| 2025-10-01T00:00:00
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Morning light hits the U.S. Capitol hours ahead of a press conference to discuss the Epstein Files Transparency bill, directing the release of the remaining files related to the investigations into Jeffrey Epstein and Ghislaine Maxwell, on Capitol Hill in Washington, D.C., U.S., September 3, 2025. Jonathan Ernst | Reuters
The U.S. government entered a shutdown on Wednesday, sparking conversation across global markets as investors weighed the potential impact on the wider economy. Although government shutdowns typically have a negligible impact on capital markets, the timing of this one is significant. U.S. jobs data due to be published on Friday will be delayed by the move — clouding the outlook for the Federal Reserve just weeks ahead of its next meeting. President Donald Trump has also threatened to use the shutdown to enact "a lot" of job cuts in the public sector. With no clear path toward a deal, it's also unclear how long the impasse will keep federal offices closed. During Trump's first term in office, a partial shutdown took hold — the longest in history.
Average market changes over recent shutdowns Shutdown period Full days Type of shutdown S&P 500 (%) net change VIX points net change DXY net change 10-year net change 12/22/18-1/25/19 35 Partial 6 -8 -2 -17 1/20/18-1/22/18 3 Partial 2 4 -2 15 10/1/13-10/17/13 16 Full 3 -1 -2 -14 12/16/95-1/6/96 21 Full -3 4 0 1 11/14/95-11/19/95 5 Full 3 -1 1 -10 10/5/90-10/9/90 3 Partial -5 3 -3 2 Average 1 0 -1 -4
Source: Bank of America
U.S. risk assets were shaky on Wednesday. Gold — typically viewed as a safe haven asset in times of economic or geopolitical turbulence — hit its 39th record high this year. European stocks edged higher in late morning trade, gaining momentum after a lackluster open, and shares listed in Asia were mixed in Wednesday's session. Meanwhile, global government bonds cooled after yields on bonds issued by European government ticked higher in early trade. However, the U.S. 10-year Treasury yield traded 4 basis points lower after a surprise decline in private payrolls.
Investors may look elsewhere amid U.S. 'dysfunction'
The shutdown adds to concerns over U.S. institutional credibility, fiscal position and "dysfunction," according to Luke Bartholomew, deputy chief economist at Aberdeen. "I'm certainly struck by how much political capital the Trump administration seems to be willing to spend on reforming, if I can put it that way, the Federal Reserve, influencing the Federal Reserve," he told CNBC's "Squawk Box Europe" on Wednesday. "The Fed is ultimately the bedrock institution for global capital markets. So, the long-end term premium is all under pressure, and I would expect that theme to continue," he added — but he noted that he "would be surprised if the market doesn't ultimately shrug this off."
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Neil Birrell, chief investment officer at U.K. investment firm Premier Miton, said that a prolonged shutdown was likely to dampen risk-on sentiment across global markets. "With bond markets reacting to extreme government borrowing requirements, credit spreads being tight and equity markets near highs with unforgiving valuations, it is hardly surprising to see investors move to perceived safe haven assets when a negative event such as a U.S. government shutdown comes to town," he told CNBC. "Investors have been complacent over the risks we face, and negative surprises will provoke a reaction. Any form of diversification looks appealing, including other metals such as silver, crypto and maybe other commodities as well."
FX impact
Joe Brusuelas, chief economist at RSM U.S., noted that the biggest outcome for markets could be further pressure on the greenback or an impact on the Fed's October rates decision. "For the most part US government shutdowns tend to result in a modest bout of speculative behavior by global investors around rates and currencies. This edition of the American fiscal follies is no different," he told CNBC via email on Wednesday. "For there to be a greater impact on global markets the U.S. government shutdown will need to be extended throughout the month approaching the 2018-2019 record shutdown. Should that occur, that would likely impact the Federal Reserve policy decision at the end of the month which would likely impact global mass flows, interest rates and foreign exchange values." Brusuelas noted that mass firings of federal workers "would likely result in further declines in the value of the dollar resulting in capital flows into the euro and yen ."
Stock Chart Icon Stock chart icon Dollar index
Widespread layoffs could also have a knock-on effect on European industry, Brusuelas told CNBC. "Demand for European exports such as autos will decline notably which would add to the pressure felt by German industrials," he said.
Investors should 'look past shutdown fears'
However, in a note on Tuesday, analysts at Swiss investment bank UBS said they did not see the shutdown as a major risk event, despite conceding that it was not a welcome development for global investors. "Shutdowns have historically had only a muted market impact," they explained. "Past government shutdowns have typically caused modest and short-lived volatility in equity and bond markets because investors understand that the economic impact is also typically quite modest and short-lived … Treasury auctions and payments would continue as normal, and while IPO activity and some regulatory processes may pause, we think neither poses a meaningful risk of market dislocation."
watch now
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S&P Global
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https://www.cnbc.com/video/2025/10/01/sp-global-u-s-manufacturing-pmi-comes-in-as-expected.html?&qsearchterm=S
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S&P Global U.S. manufacturing PMI comes in as expected
| 2025-10-01T00:00:00
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S&P Global U.S. manufacturing PMI comes in as expected
CNBC's Rick Santelli joins 'Squawk on the Street' with the latest economic data to cross the tape.
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S&P Global
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https://www.cnbc.com/video/2025/10/01/u-s-amb-to-china-david-perdue-on-u-s-china-relations-trade-talks-and-state-of-chinas-economy.html?&qsearchterm=S
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U.S. Amb. to China David Perdue on U.S.-China relations, trade talks and state of China's economy
| 2025-10-01T00:00:00
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U.S. Amb. to China David Perdue on U.S.-China relations, trade talks and state of China's economy
David Perdue, U.S. Ambassador to China, joins 'Squawk Box' to discuss the state of U.S.-China relations, the latest on trade negotiations between the two countries, his meeting with Chinese President Xi Jinping, state of China's economy, doing business in China, state of AI arms race, and more.
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S&P Global
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https://www.cnbc.com/2025/10/01/dollar-falls-on-us-government-shutdown-now-on-pace-for-worst-annual-decline-in-22-years.html?&qsearchterm=S
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Dollar claws back losses from U.S. government shutdown, turns slightly higher
| 2025-10-01T00:00:00
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The dollar held on to steep gains on Friday after better-than-forecast U.S. data dampened expectations for further easing by the Federal Reserve this year.
The dollar was little changed Wednesday, recovering from earlier declines, as traders weighed the potential fallout from a U.S. government shutdown.
The dollar index, which gauges the greenback's performance against six rival currencies including the euro and the Japanese yen , was last up just 0.02% at 97.79. Earlier in the day, it fell more than 0.2%, putting it on pace for its worst annual decline in 22 years.
The U.S. government shut down after the Senate failed to pass a short-term funding bill, and Democrats led by Senate minority leader Sen. Chuck Schumer and House minority leader Rep. Hakeem Jeffries push for a measure to extend enhanced Obamacare tax credits. President Donald Trump, meanwhile, threatened benefit cuts for "large numbers of people" if an agreement wasn't reached.
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S&P Global
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https://www.cnbc.com/2025/10/01/apple-openai-ask-us-judge-to-dismiss-musks-suit-over-competition-claims.html?&qsearchterm=S
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Apple, OpenAI ask U.S. judge to dismiss Musk's suit over competition claims
| 2025-10-01T00:00:00
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Apple's , opens new tab deal with ChatGPT owner OpenAI is not "exclusive" and does not harm competition, Apple's lawyers said as they asked a U.S. judge on Tuesday to dismiss a case filed by billionaire Elon Musk's OpenAI rival xAI.
Musk's xAI is seeking billions of dollars in damages, saying Apple would have no reason to more prominently feature the X app and the Grok app in its App Store because of the "exclusive" deal with OpenAI.
Under a deal announced in June 2024, Apple has integrated ChatGPT into its operating system for iPhones, iPads and Macs. Musk owns both X and xAI, which owns the Grok chatbot.
Apple and OpenAI have "locked up markets to maintain their monopolies and prevent innovators like X and xAI from competing," the lawsuit filed by xAI in August claimed.
"Apple and OpenAI's agreement is expressly not exclusive, and it is public and widely known that Apple intends to partner with other generative AI chatbots," lawyers for Apple said.
In a separate filing, lawyers for OpenAI accused Musk of waging "a campaign of lawfare" against OpenAI and ChatGPT, referring to earlier suits that Musk, who is also the CEO of Tesla , opens new tab and SpaceX, has filed against the company. They too asked the judge to dismiss the case.
Musk's xAI "has not alleged any non-speculative harm rising directly out of ChatGPT's integration as an option for certain features on certain iPhones — and certainly not the species of unlawful, anticompetitive harm targeted by antitrust law," lawyers for OpenAI wrote.
Musk is separately suing OpenAI and its CEO Sam Altman in federal court in California to stop its conversion from a nonprofit to a for-profit business. Musk cofounded OpenAI with Altman in 2015 as a nonprofit.
xAI did not immediately respond to a request for comment outside regular business hours on Apple and OpenAI seeking dismissal of the suit.
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S&P Global
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https://www.cnbc.com/2025/10/01/5-things-to-know-before-the-stock-market-opens.html?&qsearchterm=S
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U.S. government shuts down, Nike earnings, TrumpRX and more in Morning Squawk
| 2025-10-01T00:00:00
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watch now
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. Clock strikes midnight
The federal government officially shut down overnight after Congress failed to reach a funding agreement. You can follow CNBC's live coverage all day here. Around 750,000 federal employees are expected to be furloughed, according to the Congressional Budget Office, but the Trump administration has threatened to make some of those cuts permanent. The Bureau of Labor Statistics will not release several key economic data reports as scheduled — including Friday's nonfarm payrolls report — as long as the federal government is shuttered. The shutdown can impact everything from your mortgage application, to airport security waits, to national park visits. Here's what it means for your money.
2. The hunt for green October
Futures-options traders work on the floor at the American Stock Exchange (AMEX) at the New York Stock Exchange in New York City, U.S., August 15, 2025. Brendan McDermid | Reuters
Stocks registered gains for September and the third quarter, with the Dow ending yesterday's session at an all-time closing high. Here's what to know: Tech stocks led the way last month, with the Nasdaq Composite
CNBC Pro subscribers can read why one analyst thinks the market won't see "Octoberphobia" this year.
Stock futures are lower as the reality of a shutdown sets in on Wall Street. Meanwhile gold, which has long been considered a safe-haven trade in times of economic or political volatility, rallied to fresh records.
While the shutdown will impact government-run data releases, ADP's private payroll report will be released as expected this morning.
Follow live market updates here.
3. TrumpRX
U.S. President Donald Trump shakes hands with Pfizer CEO Albert Bourla, on the day he announces a deal with Pfizer to sell drugs at lower prices, in the Oval office of the White House in Washington, D.C., U.S., September 30, 2025. Ken Cedeno | Reuters
President Donald Trump announced a deal with Pfizer yesterday in which the pharma giant will sell its medications at lower prices in the U.S. Medicaid patients will also be able to buy Pfizer products for the lowest price offered in other developed nations through a website called TrumpRX.gov. With the deal, Pfizer scores a three-year grace period from pharmaceutical tariffs, as long as it continues investing in U.S. manufacturing. Trump said just last week that patented and branded drugs would face 100% levies unless companies build plants domestically. Pfizer shares rallied nearly 7% in yesterday's session, its best day since late 2021.
4. Just do it
A shopper walks past a Nike store in the King of Prussia Mall in King of Prussia, Pennsylvania, on April 3, 2025. Rachel Wisniewski | Reuters
There's good news and bad news from Nike's earnings report that dropped last night. Investors seemed to be focused on the former, with the stock popping more than 4% in extended trading. The athletic apparel maker beat Wall Street's expectations on both lines and unexpectedly posted sales growth compared with the prior year. On the other hand, Nike said sales would likely fall during the all-important holiday quarter. Here's how Nike's quarterly performance fits into CEO Elliott Hill's broader turnaround plan.
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. And the award goes to...
Financial advisor or business people meeting discussing financial figures. They are discussing finance charts and graphs on a laptop computer. Rear view of sitting in an office and are discussing performance Courtneyk | E+ | Getty Images
Parsons Capital Management took the top spot on CNBC's annual Financial Advisor 100 list released this morning. The firm's president and CEO John Mullen described the Rhode Island-based firm's "white glove approach" as what separates it from the pack. Read the full list and methodology. CNBC receives no compensation from placing financial advisory firms on this list, and inclusion should not be viewed as an endorsement.
The Daily Dividend
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S&P Global
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https://www.cnbc.com/video/2025/10/01/dow-futures-fall-200-points-after-us-government-shuts-down.html?&qsearchterm=S
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Dow futures fall 200 points after U.S. government shuts down
| 2025-10-01T00:00:00
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S&P Global
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https://www.cnbc.com/video/2025/10/01/u-s-government-shuts-down-after-congress-fails-to-pass-funding-bills.html?&qsearchterm=S
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U.S. government shuts down after Congress fails to pass funding bills
| 2025-10-01T00:00:00
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Amgen
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https://www.cnbc.com/2025/09/02/amgen-investment-rd-facility-california.html?&qsearchterm=Amgen
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Amgen to invest $600 million in new research and development facility in California
| 2025-09-02T00:00:00
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Amgen on Tuesday said it will spend more than $600 million to build a new research and development facility at its headquarters in Thousand Oaks, California, the latest in a string of new U.S. investments by the pharmaceutical industry.
Drugmakers have been scrambling to boost their presence in the U.S. as President Donald Trump threatens to clamp down on the industry with tariffs on pharmaceuticals imported into the country. Trump has said those levies will incentivize companies to re-shore production at a time when domestic drug manufacturing has shrunk dramatically over the past decade.
In a release, Amgen said construction of the facility will begin in the third quarter of this year and will create hundreds of U.S. jobs.
Notably, the facility is not a manufacturing plant, but it will allow researchers, engineers and scientists to collaborate on finding next-generation drugs for patients with "the most serious diseases," according to the company. Amgen said the building features "advanced automation and digital capabilities," which will give scientists the necessary tools for that research and development.
"At Amgen, we're continuing to invest in the future of American science and innovation," CEO Bob Bradway said in the release. "The center will empower our scientists with the tools and collaborative environment they need to shape the next era of scientific discovery and advance medicines that improve human health."
Amgen said that since the passage of the Tax Cuts and Jobs Act of 2017, it has invested almost $5 billion in direct U.S. capital expenditures. In April, the company announced a $900 million expansion of its Ohio biotech manufacturing facility. In December, the drugmaker announced it would spend $1 billion to build a second drug substance plant in Holly Springs, North Carolina.
Those investments come after the U.S. Food and Drug Administration in August launched a program that aims to make it easier for companies to set up new drug manufacturing plants in the U.S. The White House estimates it can currently take five to 10 years to build new manufacturing capacity for pharmaceuticals, which it previously called "unacceptable from a national-security standpoint."
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Amgen
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https://www.cnbc.com/video/2025/08/05/amgen-beats-on-q2-revenue-slightly-raises-guidance.html?&qsearchterm=Amgen
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Amgen beats on Q2 revenue, slightly raises guidance
| 2025-08-05T00:00:00
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Amgen
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https://www.cnbc.com/video/2025/08/27/calls-of-the-day-micron-doordash-amer-sports-amgen-merck-and-costco.html?&qsearchterm=Amgen
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Calls of the Day: Micron, DoorDash, Amer Sports, Amgen, Merck and Costco
| 2025-08-27T00:00:00
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Calls of the Day: Micron, DoorDash, Amer Sports, Amgen, Merck and Costco
The Investment Committee debate the latest Calls of the Day.
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Amgen
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https://www.cnbc.com/video/2025/06/25/before-this-week-amgen-hasnt-been-able-to-generate-excitement-for-its-glp-1-says-jim-cramer.html?&qsearchterm=Amgen
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Before this week Amgen hasn't been able to generate excitement for its GLP-1, says Jim Cramer
| 2025-06-25T00:00:00
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Before this week Amgen hasn't been able to generate excitement for its GLP-1, says Jim Cramer
'Mad Money' host Jim Cramer looks into stock movement connected to Amgen's GLP-1 offerings.
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Amgen
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https://www.cnbc.com/2025/03/05/amgen-weight-loss-drug-maritide-starts-two-phase-three-trials.html?&qsearchterm=Amgen
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Amgen starts two critical late-stage trials for weight loss drug MariTide
| 2025-03-05T00:00:00
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Amgen on Wednesday said it has started two critical late-stage trials for its experimental weight loss injection MariTide, another step in its bid to enter the booming obesity drug market.
"We're delighted to share that these trials have now been initiated, and really, the progression of the MARITIME program is going very, very well," Dr. Jay Bradner, Amgen's executive vice president of research and development, said during a TD Cowen conference, using the name of the drug's phase three development program.
MariTide is a monthly injection that investors hope could compete against existing weight loss drugs from Novo Nordisk and Eli Lilly , which are weekly injectables. They are part of a class of drugs called GLP-1s, which mimic certain hormones produced in the gut to tamp down appetite and regulate blood sugar.
About 6% of U.S. adults, or more than 15 million people, were using a prescription for GLP-1s as of May, according to a survey from health policy organization KFF. Some analysts expect the market for GLP-1s to be worth more than $150 billion annually by the early 2030s.
One of the new phase three trials is examining Amgen's drug in around 3,500 people with obesity or who are overweight without Type 2 diabetes, Bradner said. The second study examines MariTide in 999 patients who are obese or overweight and have Type 2 diabetes
The main goal of both studies is to measure the percentage of weight loss at 72 weeks. Amgen will study three target doses of MariTide and plans to use dose escalation, or starting patients at a lower dose of the drug and increasing that amount over time. The company did not share a specific regimen for dosing in the trials.
Amgen in November said MariTide helped patients with obesity lose up to 20% of their weight on average after a year in a phase two trial, with no weight loss plateau. The drug also helped patients with obesity and Type 2 diabetes lose up to 17% of their weight after a year with no plateau. But the results were on the lower end of Wall Street's lofty expectations for the drug.
Amgen will report more data on MariTide this year. The full results of the phase two trial will be presented at the American Diabetes Association conference in June. The company is also continuing to study patients in an extension of that trial that will read out in the second half of this year.
MariTide brings a new approach to weight loss compared with the existing drugs on the market because it is a so-called peptide antibody conjugate, which refers to a monoclonal antibody linked to two peptides. The peptides activate receptors of a gut hormone called GLP-1, while the antibody blocks receptors of another hormone called GIP.
That's unlike Eli Lilly's obesity drug, Zepbound, which activates both GIP and GLP-1. Novo Nordisk's Wegovy activates GLP-1 but does not target GIP, which may also affect how the body breaks down sugar and fat.
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Amgen
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https://www.cnbc.com/video/2025/07/02/final-trades-amgen-caterpillar-honeywell-and-freeport-mcmoran.html?&qsearchterm=Amgen
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Final Trades: Amgen, Caterpillar, Honeywell and Freeport-McMoran
| 2025-07-02T00:00:00
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Final Trades: Amgen, Caterpillar, Honeywell and Freeport-McMoran
The Investment Committee give you their top stocks to watch for the second half.
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Amgen
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https://www.cnbc.com/2025/10/01/trump-pharmaceutical-tariffs-pfizer-deal.html?&qsearchterm=Amgen
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Trump's pharmaceutical tariff threat loses bite after Pfizer deal reassures drugmakers
| 2025-10-01T00:00:00
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U.S. President Donald Trump shakes hands with Pfizer CEO Albert Bourla (L) as he announces a deal with Pfizer to lower Medicaid drug prices in the Oval Office of the White House on September 30, 2025 in Washington, DC.
President Donald Trump's long-awaited threat to impose pharmaceutical tariffs may not pose as much of a challenge as drugmakers once feared, following his new drug pricing deal with Pfizer .
Trump's Tuesday agreement with the company to voluntarily lower U.S. drug prices included a three-year exemption from pharmaceutical-specific tariffs, as long as the firm further invests in domestic manufacturing. Pfizer on Tuesday pledged to put $70 billion into U.S. manufacturing and research, on top of previous investments.
That deal brought relief and clarity to Pfizer and the broader pharmaceutical industry, signaling that many drugmakers could strike similar agreements that would make them immune to the levies for most of Trump's term.
The Trump administration also made it clear that it will try to secure those drug pricing agreements before it imposes tariffs. Commerce Secretary Howard Lutnick on Tuesday said he will let companies finish their negotiations with the administration before setting pharmaceutical-specific levies under the legal authority known as Section 232.
Trump on Tuesday said he's working with other drugmakers to secure similar pacts over the next week, and the White House confirmed that Eli Lilly is expected to strike the next drug pricing deal. The vast majority of major pharmaceutical companies, including Eli Lilly, Johnson & Johnson , AstraZeneca , AbbVie , Roche , Novo Nordisk and Amgen have unveiled new U.S. investments in manufacturing or research facilities in recent months to build goodwill with the president.
Shares of Pfizer and several other drugmakers rose on Tuesday following the agreement. Pfizer's stock ended more than 6% higher, while Eli Lilly rose 5%. Shares of AbbVie and AstraZeneca climbed more than 3%, while J&J and Bristol Myers Squibb's stocks increased more than 2% each.
The Pfizer deal adds certainty for drugmakers and shifts the president's policies "potentially away from Pharma tariffs," BMO Capital Markets analyst Evan Seigerman said in a note on Tuesday.
"Today's deal seems to set a path for other pharmaceutical players to follow, allowing for headline pricing concessions and a Trump 'win' without more punitive implementation" of the president's so-called most-favored-nation policy or tariffs, Seigerman added.
Trump in May signed an executive order reviving that controversial plan, which aims to tie the prices of some medicines in the U.S. to the significantly lower ones abroad. As part of that effort, Trump in July sent letters to 17 drugmakers — including Pfizer — calling on them to take steps to lower drug prices by Sept. 29.
"As we think about the group more broadly, we would not be surprised to see a number of similar agreements to help remove uncertainty on the [most-favored-nation policy and] tariffs," JPMorgan analyst Chris Schott said in a note Tuesday.
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Amgen
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https://www.cnbc.com/2024/11/26/amgen-says-weight-loss-drug-maritide-caused-up-to-20percent-weight-loss-after-a-year.html?&qsearchterm=Amgen
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Amgen says obesity drug caused up to 20% weight loss after a year, with no plateau
| 2024-11-26T00:00:00
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Amgen on Tuesday said its experimental weight loss injection helped patients with obesity lose up to 20% of their weight on average after a year in a critical mid-stage trial, as the company races to join the booming obesity drug market.
The drug, MariTide, also helped patients with obesity and Type 2 diabetes lose up to 17% of their weight after a year. The company said it did not observe a plateau in either group of patients, which indicates the potential for further weight loss beyond 52 weeks. MariTide was taken monthly or even less frequently in the trial — which could offer an advantage over the popular weekly injections on the market.
But shares of Amgen fell about 5% on Tuesday, as the results appear to be at the lower end of Wall Street's lofty expectations for the drug. Ahead of the data, several analysts said they wanted MariTide to show weight loss of at least 20% in the phase two trial, with some hoping for up to 25%.
Wall Street has been eagerly awaiting the trial results, which shed light on how Amgen's drug may measure up to blockbuster weight loss injections from Novo Nordisk and Eli Lilly and a crowded field of treatments being developed by other drugmakers.
Jared Holz, Mizuho health care equity strategist, said in an email Tuesday that "our sense is investors remain even more confident in" Eli Lilly and Novo Nordisk as leaders in the weight loss drug market. He noted that Amgen could potentially be a "distant third/fourth player" in the space since MariTide likely won't enter the market until around 2027.
Amgen only released data on the first of two yearlong parts of the trial, which was designed to test different dose sizes, schedules and regimens of MariTide. The trial's main goal was to measure the amount of weight loss, but it also examined how long participants could go between injections and still lose pounds.
Notably, Amgen said patients who received the highest dose of MariTide every other month experienced comparable weight loss to those who took it monthly, suggesting the potential for less frequent dosing of the drug.
Roughly 11% of patients in the trial discontinued treatment because of any adverse side effects, while less than 8% stopped specifically due to gastrointestinal side effects. Gastrointestinal side effects were mainly mild to moderate and primarily associated with the first dose of the drug.
Dose escalation, which refers to starting patients at a lower dose of MariTide and gradually increasing it until they reach a higher target dose, significantly improved the rates of those side effects in the trial, according to Amgen.
"Based on these data, we believe MariTide has a unique differentiated and competitive profile, which we will explore in phase three development," Amgen CEO Robert Bradway said on a call with investors Tuesday after the results.
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Amgen
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https://www.cnbc.com/video/2025/02/04/amgen-shares-sink-despite-quarterly-beat-fda-places-obesity-drug-on-clinical-hold.html?&qsearchterm=Amgen
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Amgen shares sink despite quarterly beat, FDA places obesity drug on clinical hold
| 2025-02-04T00:00:00
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Amgen
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https://www.cnbc.com/2024/12/05/healthy-returns-wall-street-mulls-over-amgen-weight-loss-drug-data-.html?&qsearchterm=Amgen
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Healthy Returns: Wall Street mulls over Amgen weight loss drug data
| 2024-12-05T00:00:00
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The Amgen logo is displayed outside Amgen headquarters in Thousand Oaks, California, on May 17, 2023.
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.
Wall Street is chewing over critical data released last week on Amgen' s experimental weight loss injection – a potential competitor in the blockbuster obesity drug market.
Some analysts said the initial mid-stage trial results appear positive overall. But questions remain about the drug's efficacy and how well patients tolerate it, they noted.
We likely won't get more answers until the company releases the full data from the study. That includes results from a second part of the trial, which examines how long MariTide's weight loss lasts.
Investors initially weren't pleased. Shares of Amgen tumbled more than 11% as the markets opened last Tuesday, as the results appeared to be slightly below Wall Street's lofty expectations for the drug.
The injection, MariTide, helped patients with obesity lose up to 20% of their weight on average after a year, with no plateau. Ahead of the data, several analysts said they wanted MariTide to show weight loss of at least 20% in the phase two trial, with some hoping for up to 25%.
Here's how that compares to the existing injections on the market, based on late-stage studies:
But in a note last week, BMO Capital Markets analyst Evan Seigerman said the stock reaction last Tuesday reflects "too-high expectations for % weight loss, without assigning value to easier dosing" of the injection.
Notably, Amgen is testing MariTide as an injection taken once a month or even less frequently, which would be far more convenient for patients to take long term than the weekly injections from Novo Nordisk and Eli Lilly.
"MariTide data firmly establishes Amgen as a competitor in obesity and diabetes indications, today showing compelling weight loss in both indications," Seigerman said.
In the trial, MariTide also helped patients with obesity and Type 2 diabetes lose up to 17% of their weight after a year.
The drug's efficacy may also improve, Jefferies analyst Michael Yee said in a note last week. The 20% weight loss after one year, with no plateau, may increase to 25% by 18 months, Yee said. He noted that in comparison, the weight loss caused by Zepbound mostly plateaued by a year.
The most common side effects for MariTide were gastrointestinal, including nausea, vomiting and constipation. Nausea and vomiting were mainly mild and associated with the first dose of MariTide.
Amgen said incidences of nausea and vomiting were also significantly reduced with dose escalation, which refers to starting patients at a lower dose of MariTide and gradually increasing it over a specific time period until they reach a higher target dose.
Roughly 11% of patients in groups with dose escalation discontinued treatment because of any adverse side effects, while less than 8% stopped specifically due to gastrointestinal side effects such as nausea and vomiting.
Amgen reported that 70% of patients in groups with dose escalation experienced nausea and 40% experienced vomiting.
However, Amgen said it conducted another early-stage study that found starting patients with lower initial doses of MariTide cut those rates substantially, leading to about 50% of patients reporting nausea and 20% reporting vomiting.
That appears to be higher than the levels of nausea and vomiting seen for Zepbound and Wegovy. Still, Seigerman said the mild severity of those side effects and "isolated time of events at the start of treatment give us confidence they can be managed."
He added that he is "encouraged by the reductions seen with dose escalations."
In a research note last week, JPMorgan analyst Chris Schott said Amgen will explore lower starting doses in its phase three trial on MariTide. The firm believes that "further improved tolerability in the Ph3 trial will be key to potential uptake for the asset," he noted.
Leerink Partners analyst David Risinger, in a note last week, outlined key questions that need clarification when full results from the trial are released. He said that includes detailed data on how well patients tolerated the drug when dose escalation wasn't used, and weight loss data among non-diabetic patients that received the highest dose of the drug.
Feel free to send any tips, suggestions, story ideas and data to Annika at annikakim.constantino@nbcuni.com.
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Accenture
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https://www.cnbc.com/2025/09/26/accenture-plans-on-exiting-staff-who-cant-be-reskilled-on-ai.html?&qsearchterm=Accenture
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Accenture plans on 'exiting' staff who can't be reskilled on AI amid restructuring strategy
| 2025-09-26T00:00:00
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Tech consultancy Accenture has set out plans to lay off staff who aren't able to reskill on artificial intelligence amid a broader restructuring strategy which will see the company prioritize AI efforts.
Accenture CEO Julie Sweet said in a call Thursday that as advanced AI becomes "a part of everything we do" and the global professional services company continues to invest significantly in the area, it expects employees to "retrain and retool" at scale.
"We are investing in upskilling our reinventors, which is our primary strategy," Sweet said. She explained that the company is "exiting on a compression timeline" people for whom reskilling isn't a "viable path."
Sweet said Accenture had already reskilled 550,000 workers on the fundamentals of generative AI and outlined a six-month $865 million business optimization program, which detailed costs associated with severance and headcount reductions.
"We expect savings of over $1 billion from our business optimization program, which we expect that we will reinvest in our business and in our people because it's so important for our future growth and so we expect to reinvest that while still delivering modest margin expansion," Accenture Chief Financial Officer Angie Park said.
Alongside cuts, the company is continuing to hire and has beefed up its AI talent with 77,000 employed AI and data professionals in 2025, up from 40,000 in 2023. Sweet said its also expecting to increase the company's headcount in the next financial year across markets including the U.S. and Europe.
"Our No. 1 strategy is upskilling, given the skills we need, and we've had a lot of experience in upskilling, we're trying to, in a very compressed timeline, where we don't have a viable path for skilling, sort of exiting people so we can get more of the skills in we need," Sweet added.
The company reported revenue of $69.7 billion this year, growth of 7% from the prior year. In an interview with CNBC's "Squawk on the Street," Sweet pinned this growth on massive client demand to deploy artificial intelligence across organizations.
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Accenture
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https://www.cnbc.com/video/2025/09/25/watch-cnbcs-full-interview-with-accenture-ceo-julie-sweet.html?&qsearchterm=Accenture
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Watch CNBC's full interview with Accenture CEO Julie Sweet
| 2025-09-25T00:00:00
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Watch CNBC's full interview with Accenture CEO Julie Sweet
CNBC's Julie Sweet joins 'Squawk on the Street' to discuss insights on Accentures latest quarter, how clients are utilizing AI, and much more.
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Accenture
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https://www.cnbc.com/video/2025/09/25/accenture-ceo-julie-sweet-on-earnings-beat-our-early-investment-in-ai-is-paying-off.html?&qsearchterm=Accenture
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Accenture CEO Julie Sweet on earnings beat: Our early investment in AI is paying off
| 2025-09-25T00:00:00
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Accenture CEO Julie Sweet on earnings beat: Our early investment in AI is paying off
CNBC's Julie Sweet joins 'Squawk on the Street' to discuss insights on Accentures latest quarter, how clients are utilizing AI, and much more.
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Accenture
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https://www.cnbc.com/video/2025/09/19/lightning-round-im-willing-to-pull-trigger-on-accenture-jim-cramer.html?&qsearchterm=Accenture
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Lightning Round: I'm willing to pull the trigger on Accenture, says Jim Cramer
| 2025-09-19T00:00:00
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Lightning Round: I'm willing to pull the trigger on Accenture, says Jim Cramer
CNBC's Jim Cramer answers calls from viewers and gives his stock advice.
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Accenture
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https://www.cnbc.com/video/2025/07/10/european-firms-must-accelerate-ai-adoption-accenture-emea-ceo-says.html?&qsearchterm=Accenture
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European firms must accelerate AI adoption, Accenture EMEA CEO says
| 2025-07-10T00:00:00
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European firms must accelerate AI adoption, Accenture EMEA CEO says
Mauro Macchi, Accenture's EMEA CEO, discusses their latest research on artificial intelligence adoption in Europe.
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Accenture
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https://www.cnbc.com/video/2025/06/24/trade-tracker-stephanie-link-sells-accenture.html?&qsearchterm=Accenture
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Trade Tracker: Stephanie Link sells Accenture
| 2025-06-24T00:00:00
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In this video
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Trade Tracker: Stephanie Link sells Accenture
Stephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to explain why she's selling Accenture here.
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Accenture
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https://www.cnbc.com/video/2025/06/20/accenture-ceo-julie-sweet-really-starting-to-see-clients-scale-embed-generative-ai-in-everything.html?&qsearchterm=Accenture
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Accenture CEO Julie Sweet: Really starting to see clients scale & embed generative AI in everything
| 2025-06-20T00:00:00
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In this video
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Accenture CEO Julie Sweet: Really starting to see clients scale & embed generative AI in everything
Accenture CEO Julie Sweet joins CNBC's 'Squawk on the Street' to discuss the company's most recent quarter.
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Accenture
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https://www.cnbc.com/video/2025/06/20/watch-cnbcs-full-interview-with-accenture-ceo-julie-sweet.html?&qsearchterm=Accenture
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Watch CNBC's full interview with Accenture CEO Julie Sweet
| 2025-06-20T00:00:00
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Watch CNBC's full interview with Accenture CEO Julie Sweet
Accenture CEO Julie Sweet joins CNBC's 'Squawk on the Street' to discuss the company's most recent quarter.
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Accenture
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https://www.cnbc.com/2025/06/20/stocks-making-the-biggest-moves-premarket-kmx-gms-dri-acn-gms.html?&qsearchterm=Accenture
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Stocks making the biggest moves premarket: CarMax, Darden Restaurants, Accenture, GMS and more
| 2025-06-20T00:00:00
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Check out the companies making headlines before the bell: CarMax — Shares jumped 10% after CarMax reported first-quarter results that exceeded analysts' expectations. The car retailer earned $1.38 per share on revenue of $7.55 billion. Analysts polled by LSEG expected a profit of $1.16 per share on revenue of $7.52 billion. GMS — The specialty building products stock jumped 26% as a bidding war for GMS has reportedly developed between QXO and Home Depot . QXO said late Wednesday that it was offering $95.20 per share for QXO, while The Wall Street Journal reported Friday that Home Depot had also made an offer privately. Shares of QXO were up 2.4% in premarket trading, while Home Depot dipped less than 1%. Darden Restaurants — Shares were up nearly 3% after the Olive Garden parent's fourth-quarter results beat on both the top and bottom lines. Adjusted earnings were $2.98 a share, topping expectations by 1 cent, according to LSEG. Revenue was $3.27 billion, versus the $3.26 billion expected. Darden also authorized a new $1 billion share repurchase program. Jack in the Box — The fast-food stock shed 1% after a Stifel downgrade to hold from buy. The firm said the Trump's administration's immigration policies are a headwind for Jack in the Box . Accenture — Shares fell 3.7% after the IT company reported a 6% drop in new bookings in U.S. currency in its fiscal third quarter to $17.73 billion. Overall, however, Accenture topped expectations, posting earnings of $3.49 per share on revenue of $17.73 billion. Analysts polled by LSEG had expected earnings per share of $3.32 on revenue of $17.30 billion. Circle — Shares of Circle continued to climb on Friday as investors cheered the Senate approval of its proposed stablecoin legislation , the GENIUS Act. The stock was up 14% in premarket trading, after the bill passed the Senate on Tuesday. On Wednesday, it rose 33%. Kroger — The supermarket chain fell less than 1% ahead of its first-quarter results. Analysts polled by LSEG are anticipating earnings of $1.46 per share on revenue of $45.19 billion. Regencell Bioscience — Shares dropped more than 17%, continuing Regencell's volatile moves this week after a 38-for-1 split took effect. It jumped more than 280% on Monday and 30% on Tuesday before falling more than 18% Wednesday. — CNBC's Michelle Fox, Tanaya Macheel and Jesse Pound contributed reporting.
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Accenture
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https://www.cnbc.com/video/2025/06/17/90-percent-of-defence-executives-say-the-future-is-going-to-be-dictated-by-software-defined-products-says-accenture-managing.html?&qsearchterm=Accenture
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90% of defense executives say the future will be dictated by software-defined products, says Accenture A&D Lead
| 2025-06-17T00:00:00
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90% of defense executives say the future will be dictated by software-defined products, says Accenture A&D Lead
John Schmidt, global aerospace & defense lead at Accenture discusses European defense and Accenture's research on the defense sector at the Paris Air Show.
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Lowe's
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https://www.cnbc.com/2025/08/20/lowes-low-q2-2025-earnings.html?&qsearchterm=Lowe%27s
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Lowe's beats on quarterly earnings, buys home pros business for $8.8 billion
| 2025-08-20T00:00:00
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Lowe's beat Wall Street's earning expectations on Wednesday as demand for home projects picked up during the quarter, but homeowners' appetite for bigger projects remained softer.
The retailer also announced its latest effort to attract more business from home professionals. It said on Wednesday that it has struck a deal to acquire Foundation Building Materials, a distributor of drywall, insulation and other interior building products for large residential and commercial professionals, for about $8.8 billion.
Home improvement demand has been weaker as higher borrowing costs and mortgage rates keep some homeowners and potential homebuyers on the sidelines. In an interview with CNBC, CEO Marvin Ellison said the company's sales improved as the quarter went on and saw a particular pop in July.
But he attributed that to better weather and said "it's too early for us to call that a trend." He said he anticipates activity will pick up when mortgage rates fall below 6%. The average rate for a 30-year, fixed-rate mortgage is slightly above 6.5%, according to Freddie Mac, compared with the below-3% levels around the beginning of the Covid pandemic.
To overcome that slower backdrop, Lowe's has looked to home professionals — a steadier and more lucrative customer — to drive sales. It has made two pro-focused acquisitions in recent months: Artisan Design Group, a company that provides design services and installation of flooring, cabinets and countertops for homebuilders and property managers, and Foundation Building Materials, which it announced on Wednesday.
"We believe this is where the inflection and the growth is coming when housing finally unlocks, and we want to be positioned for it. And we think this acquisition helps us to do that," Ellison said.
Here's what the company reported for the fiscal second quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $4.33 adjusted vs. $4.24 expected
$4.33 adjusted vs. $4.24 expected Revenue: $23.96 billion vs. $23.96 billion expected
In the fiscal second quarter, Ellison said the home improvement retailer saw "solid performance" in both the do-it-yourself and the home professional sides of its business.
In the three-month period that ended Aug. 1, Lowe's net income rose to $2.4 billion, or $4.27 per share, from $2.38 billion, or $4.17 per share, in the year-ago period. Revenue increased from $23.59 billion in the year-ago quarter. Adjusting for one-time items, including depreciation of some assets, Lowe's reported earnings of $4.33 per share.
Comparable sales rose 1.1% in the quarter. Sales trends improved with each month, with comparable sales down 1% in May, up 0.3% in June and up 4.7% July, CFO Brandon Sink said on the company's earnings call.
However, Sink said Lowe's strategy to grow online sales and pro sales, rather than a better home improvement backdrop, will move the needle this year.
"Our expectations for a roughly flat home improvement market and the performance of our core business remain unchanged," he said.
Lowe's revised its full-year outlook to reflect the acquisition of Artisan Design Group.
For the full year, Lowe's said it expects total sales of $84.5 billion to $85.5 billion, an increase from its previous range of $83.5 billion to $84.5 billion. It reiterated its comparable sales, a metric that takes out one-time factors like store openings or closures, saying they will be flat to up 1% from the prior year. It expects earnings per share for the year of approximately $12.10 to $12.35, down slightly from its prior range of $12.15 to $12.40.
Online sales grew 7.5% during the quarter, as Lowe's added more features to its website and gained traction with its customer loyalty program, MyLowe's Rewards, Ellison said on the earnings call.
He said it has reached out to shoppers in new ways, too. It's trying to capitalize on marketing deals with soccer star Lionel Messi and the NFL. It launched a creator network with social media influencers, including YouTuber MrBeast, to reach more Gen Z and millennial customers through social media.
On the pro side, he said, Lowe's acquisitions will allow it to carry a wider range of products and cater to home professionals who are tackling more complex projects.
Like other retailers, Lowe's faces higher costs from tariffs. About 60% of its goods are sourced from the U.S., and the company is trying to diversify its imports so it doesn't rely too heavily on a single other country, Ellison said.
Lowe's rival, Home Depot , missed Wall Street's expectations for quarterly sales and earnings on Tuesday, but stood by its full-year forecast for 2.8% growth of total sales.
Home Depot also has bulked up its pro business with acquisitions. It acquired SRS Distribution, a Texas-based company that sells supplies to professionals in the roofing, pool and landscaping businesses, last year for $18.25 billion. Earlier this summer, it announced it was buying GMS, a building products distributor, for about $4.3 billion.
Correction: A previous version of this story misstated Lowe's revenue for the quarter.
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Lowe's
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https://www.cnbc.com/video/2025/08/20/lowes-tops-earnings-estimates.html?&qsearchterm=Lowe%27s
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Lowe's tops earnings estimates
| 2025-08-20T00:00:00
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Lowe's
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https://www.cnbc.com/2025/08/20/stocks-making-the-biggest-premarket-moves-.html?&qsearchterm=Lowe%27s
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Stocks making the biggest premarket moves: Target, Lowe's, Snowflake and more
| 2025-08-20T00:00:00
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Check out the companies making the biggest moves in premarket trading: Target — The big-box retailer sank 10.5% after announcing CEO Brian Cornell will be replaced by Chief Operating Officer Michael Fiddelke on Feb.1. Target also posted a second-quarter earnings and revenue beat, although its sales and traffic declined, and reiterated its full-year outlook. Lowe's — Shares of the home improvement retailer moved 3% higher on the back of its latest financial results . Earnings came in at $4.33 per share for the second quarter, topping the $4.24 expected from analysts polled by LSEG. Revenue was $23.96 billion, matching the consensus estimate. Lowe's also increased its full-year sales guidance. Estée Lauder — Shares tumbled 8% after the beauty company said it expects tariff-related headwinds to affect profitability for its fiscal 2026 year by approximately $100 million. Estée Lauder also guided for fiscal 2026 adjusted earnings per share in a range below FactSet's consensus estimate, and for fiscal 2026 year-over-year revenue growth of 2.5%, less than the expected 2.6%. Hertz — The car rental company jumped 9% after announcing it will begin selling pre-owned vehicles on Amazon Autos. The offering will be available beginning in four city areas as soon as Wednesday and will expand to 45 locations nationwide. Analog Devices — The stock rose 3.8% following the semiconductor company's earnings beat. Analog Devices reported third-quarter adjusted earnings of $2.05 per share on revenue of $2.88 billion. Analysts polled by LSEG had expected earnings per share of $1.95 on revenue of $2.77 billion. The company also raised its fourth-quarter guidance. TJX — The stock rose 4.4% after the discount retailer reported second-quarter results that exceeded expectations. TJX posted earnings of $1.10 per share on revenue of $14.40 billion. Analysts polled by LSEG had expected earnings per share of $1.01 on revenue of $14.13 billion. La-Z-Boy — Shares slid 22% after the manufacturer of recliners posted earnings of 47 cents per share, excluding items, in the fiscal first quarter, missing the consensus estimate from analysts polled by FactSet of 53 cents. The company also gave weaker-than-expected guidance for current-quarter revenue. Alcon — U.S.-listed shares of the Swiss-based eye-care company shed 11%. Alcon's second-quarter revenue of $2.58 billion came in below the $2.62 billion expected from analysts polled by FactSet. The company also lowered its full-year revenue guidance. Toll Brothers — The luxury homebuilder slipped 1.6% following its weak full-year outlook. Toll Brothers, which reported a third-year earnings and revenue beat, expects to deliver 11,200 units versus its prior guidance of 11,200 to 11,600 units. It also guided for the average delivered price per home to come between $950,000 to $960,000, compared to its prior guidance of $945,000 to 965,000. Snowflake — The software stock rose 2.4% after being upgraded at Bank of America to buy from neutral. The bank expects its earnings, due next week, will be a catalyst for the stock and believes Snowflake will outperform long term thanks to artificial intelligence. Upstart — The online lender added 2.5% on the back of an upgrade at JPMorgan to overweight from neutral. The firm said the improved macroeconomic outlook is positive for seasoned fintech leaders and believes Upstart offers the best risk/reward. Gap — The clothing retailer moved 2% lower as shares were downgraded to neutral from buy at Citi, which cited tariff pressures. Chip companies — Shares of some chips manufacturers moved lower following a Reuters report that the Trump administration is considering taking equity stakes in those companies that receive funding from the CHIPS Act. Micron sank 5%, while Intel , Taiwan Semiconductor Manufacturing and AMD were all down about 1%. — CNBC's Alex Harring, Sarah Min and Lisa Han contributed reporting.
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Lowe's
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https://www.cnbc.com/2025/08/06/lowes-trades-at-attractive-levels-using-options-to-capture-potential-gains-ahead.html?&qsearchterm=Lowe%27s
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Lowe's trades at attractive levels. Using options to capture potential gains ahead
| 2025-08-06T00:00:00
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Lowe's (LOW) recently broke out from a major consolidation period and presents a strong upside opportunity. With the anticipated Federal Reserve interest rate cuts and LOW's targeted initiatives aimed at accelerating growth, the current levels provide a compelling entry point for investors to seek bullish exposure with an attractive risk-to-reward ratio. Trade timing The timing for bullish exposure in LOW is optimal, the stock has spent the last 5 months in a range between $210 and $230 consolidating. However, it just broke out above this trading range earlier this week while outperforming the S & P 500 . This suggests that there is potential institutional and retail accumulation on this breakout and we are targeting $265 to the upside, the high of 2025. Fundamentals LOW currently trades at a slight discount to its peers supported by strong profitability, suggesting moderate upside potential. Forward PE ratio: 19.4x vs. retail-cyclical industry average 22.0x Future EPS growth: 7.6% vs. industry average 7.2% Future revenue growth: 2.8% vs. industry average 3.7% Net margins: 8.2% vs. industry average 6.2% Bullish thesis Strategic Initiatives for Pro Customers: Lowe's has achieved a notable 30% Pro penetration, with strategic relaunch of its MyLowe's Pro Rewards loyalty program in 2025. Expanded Product Offerings: Lowe's is expanding its product assortments in nearly 500 stores targeting underserved rural markets. This initiative positions Lowe's uniquely to capture increased market share in regions lacking direct competition. Digital & Technological Investments: Lowe's partnerships with technology leaders such as Nvidia , OpenAI, and Palantir to leverage AI and the launch of the home improvement industry's first product marketplace significantly boost its competitive edge. Service Enhancements: Introduction of the Pro Extended Aisle program, allowing direct supplier engagement and streamlined jobsite delivery, significantly bolsters Lowe's competitive capabilities in servicing large Pro orders. Additionally, the anticipated shift in Federal Reserve policy, with interest rate cuts expected starting in September and potentially continuing through year-end, provides a supportive backdrop for interest rate-sensitive industries such as homebuilding and home improvement retail. Lowe's stands to benefit directly from increased consumer and Pro spending in response to more accommodative financial conditions. The trade To capitalize on this bullish outlook with earnings on deck in two weeks, I'm buying a Sept. 19, $240/$260 Call Vertical @ $6.37 Debit. This entails: Buying the Sep. 19, $240 call @ $8.35 Selling the Sep. 19, $260 call @ $1.98 Maximum reward: $1,363 per contract if LOW is above $260 at expiration. Maximum risk: $637 per contract if LOW is below $240 at expiration. Breakeven point: $246.37 View this Trade with Updated Prices at OptionsPlay . This bullish options strategy leverages Lowe's recent breakout, compelling strategic positioning, and macroeconomic tailwinds, providing you with a clearly defined risk exposure and strong upside potential heading into earnings. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
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Lowe's
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https://www.cnbc.com/2025/07/23/cramers-lightning-round-lowes-is-a-buy.html?&qsearchterm=Lowe%27s
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Cramer's Lightning Round: Lowe's is a buy
| 2025-07-23T00:00:00
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Stock Chart Icon Stock chart icon Pfizer's year-to-date stock performance.
Pfizer : "We're still on the verge of finding out what this Seagen acquisition does...Let's give Dr. Bourla two more quarters."
Stock Chart Icon Stock chart icon CrowdStrike's year-to-date stock performance.
CrowdStrike : "...Take out your cost basis, and then you're going to let the rest run. And I'll see you at $1000."
Stock Chart Icon Stock chart icon Lowe's year-to-date stock performance.
Lowe's : "Marvin Ellison is hitting the ball, he's doing his best...You think I'm going to quit Marvin Ellison now? Absolutely not [buy, buy, buy!]."
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Lowe's
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https://www.cnbc.com/2025/05/21/lowes-low-q1-2025-earnings.html?&qsearchterm=Lowe%27s
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Lowe's sticks by full-year forecast as sales from home professionals boost business
| 2025-05-21T00:00:00
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Lowe's on Wednesday stood by its full-year forecast, as growing sales among home professionals helped offset slower demand from do-it-yourself customers.
The home improvement retailer came in just shy of Wall Street's expectations for quarterly sales, but beat earnings estimates.
In the company's news release, CEO Marvin Ellison said investments in its stores, technology and customer service have helped the retailer get through "near-term uncertainty and housing market headwinds."
Home improvement demand has been in a sluggish stretch as high interest rates and slower housing turnover ding U.S. consumers' appetite to spend on pricier projects. With its outlook, Lowe's predicted it will snap out of the sales slump this year, but only with slight year-over-year gains.
Lowe's said it expects full-year total sales to range from $83.5 billion to $84.5 billion, which on the upper end would be higher than its total revenue of $83.67 billion for fiscal 2024. It said it projects comparable sales to be flat to up 1% year over year and earnings per share to range from approximately $12.15 to $12.40.
Shares of Lowe's fell less than 2% Wednesday.
Here's what the company reported for the fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $2.92 vs. $2.88 expected
$2.92 vs. $2.88 expected Revenue: $20.93 billion vs. $20.94 billion expected
In the three-month period that ended May 2, Lowe's net income fell to $1.64 billion, or $2.92 per share, compared with $1.76 billion, or $3.06 per share, in the year-ago quarter. Revenue fell from $21.36 billion.
Comparable sales decreased 1.7% year over year. Unfavorable weather hurt sales demand, but sales on Lowe's website and among home professionals grew, Ellison said on the company's earnings call.
Sales to home professionals grew by mid single-digits in the quarter, he said. Ellison attributed those gains to investments Lowe's has made in the business since 2018, including expanding its merchandise lineup and launching a pro loyalty program.
Sales trends across the business improved as the weather got better and customers turned to the company's stores for garden supplies, outdoor power equipment and other spring items like grills and patio furniture, Ellison said.
Comparable sales declined 5.4% in February compared with the year-ago period due to poor weather, CFO Brandon Sink said. He said comparable sales in March rose 1.7% and declined 2.6% in April. Some of that difference was due to the timing of Easter, which shifted from March to April. Lowe's stores are closed on Easter.
Compared with other retailers, Lowe's customers are typically in a more financially stable position since they tend to be homeowners. Sink said the consumer overall is "very healthy," but they're still putting off bigger purchases and projects.
When it comes to that kind of spending, he said customers are "still mainly sitting on the sidelines." But, he added, "the good news is the trends aren't getting any worse."
He said Lowe's is waiting for "the inflection point" that leads to a meaningful increase in discretionary projects and store traffic from do-it-yourself shoppers, but he doesn't expect to to come this fiscal year.
Like Lowe's, competitor Home Depot reaffirmed its full-year forecast earlier this week and posted year-over-year comparable sales declines. Home Depot's fiscal first quarter also got a significant lift from SRS Distribution, a company it acquired that sells supplies to home professionals in roofing, pools and landscaping.
Both companies have tried to attract more sales from home professionals. Lowe's announced in April that it was acquiring Artisan Design Group, a company that provides design services and installation of flooring, cabinets and countertops for homebuilders and property managers, in a $1.3 billion deal.
For Lowe's and other retailers, higher tariffs have meant higher costs for retailers that import goods from across the world. In recent days, retailers have shared different approaches for managing those costs. Walmart CFO John David Rainey said the company would absorb some costs and expected suppliers to do the same, but warned it would have to raise prices for customers. Home Depot's CFO Richard McPhail, on the other hand, said the company intended to "generally maintain our current pricing levels across our portfolio."
On Lowe's earnings call, Ellison said the company will work with suppliers and do its best to minimize the impact on customers. Plus, he said, it wants to stay price competitive with other home improvement retailers.
"We're not in the habit of donating market share to the competition," he said.
He said Lowe's is trying to diversify its imports and that about 60% of Lowe's purchases come from the U.S. Over the past few years, he said Lowe's has worked with its suppliers on its sourcing. As a result of that, only about 20% of the company's purchase volume is from China, he noted.
"Our global sourcing team has identified exciting diversification opportunities in the U.S. and around the globe that we're actively pursuing," Ellison said.
Some of those imports that come from China include artificial Christmas trees, ceiling fans, small appliances and tools, said Bill Boltz, executive vice president of merchandising. He said the company is working with suppliers to find different countries to produce those goods.
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Lowe's
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https://www.cnbc.com/2025/05/21/stocks-making-the-biggest-moves-premarket-tgt-panw-low-unh.html?&qsearchterm=Lowe%27s
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Stocks making the biggest moves premarket: Target, Palo Alto Networks, Lowe's, UnitedHealth and more
| 2025-05-21T00:00:00
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Check out the companies making headlines before the bell. Palo Alto Networks — Shares of the cybersecurity company dipped 3.7% after Palo Alto Network's gross margin for the fiscal third quarter came out below estimates . The company still beat on earnings and revenue expectations, however. UnitedHealth — Shares dropped more than 6% after HSBC downgraded the health insurance giant, saying valuations are still elevated despite a recent rout. Target — The retailer's stock slipped 3.5% after Target missed first-quarter revenue estimates and cut its full-year sales outlook. Executives blamed tariff uncertainty, weaker discretionary spending and backlash to the company's rollback of key diversity, equity and inclusion efforts for its performance. Lowe's — Shares of the home improvement retailer rose 2%. Lowe's reaffirmed its full-year forecast , putting the retailer on track for year-over-year sales growth. Lowe's also reported earnings of $2.92 per share, beating an LSEG estimate of $2.88 per share. Revenue of $20.93 billion came out just shy of the $20.94 billion expected. Toll Brothers — The homebuilder rose more than 4% after fiscal second-quarter results topped expectations. Toll Brothers reported $3.50 in earnings per share on $2.74 billion in revenue. Analysts surveyed by LSEG were looking for $2.83 per share in earnings and $2.48 billion in revenue. Carter's — Shares of the children's clothing company slid about 6% after Carters cut its quarterly dividend to 25 cents per share, down from 80 cents per share. The company's chief executive said in a release that Carter's dividend was misaligned with its level of profitability against the current market environment, and that higher tariffs could lead Carter's to incur significantly higher product costs. Wolfspeed — Shares of the semiconductor supplier plunged more than 60% after The Wall Street Journal reported , citing sources familiar with the matter that Wolfspeed is preparing to file for bankruptcy within weeks. Xpeng — The Chinese EV maker rose than 5% in the premarket after a smaller-than-expected loss for the first quarter . Xpeng added it expects to deliver between 102,000 and 108,000 vehicles in the second quarter. That represents a year-over-year increase of more than 200%. — CNBC's Sarah Min and Jesse Pound contributed reporting.
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Lowe's
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https://www.cnbc.com/2025/02/26/lowes-low-q4-2024-earnings.html?&qsearchterm=Lowe%27s
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Lowe's beats Wall Street expectations as it starts to break out of sales slump
| 2025-02-26T00:00:00
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Lowe's topped Wall Street's quarterly earnings and revenue expectations on Wednesday and said its sales slump should end in the year ahead.
The home improvement retailer said it expects full-year total sales to range from $83.5 billion to $84.5 billion, which on the upper end would be higher than its total revenue of $83.67 billion for fiscal 2024. It said it expects comparable sales to be flat to up 1% year over year and earnings per share to range from approximately $12.15 to $12.40.
On the company's earnings call, CEO Marvin Ellison stressed that Lowe's still faces "a challenging home improvement market."
He said high mortgage rates have created "a significant gap between today's rates for homebuyers and the lower rates many homeowners currently enjoy,." That's led to a "lock-in effect" that's kept consumers from buying and selling, he said.
Even so, he said, Lowe's has pressed ahead with investments in its own strategy, such as attracting more business from home professionals, so it is "well-positioned to capitalize on the home improvement recovery and take share when the market inflects."
Here's what the company reported for the fiscal fourth quarter compared with what Wall Street expected, based on a survey of analysts by LSEG:
Earnings per share: $1.93 adjusted vs. $1.84 expected
$1.93 adjusted vs. $1.84 expected Revenue: $18.55 billion vs. $18.29 billion expected
Lowe's shares rose nearly 2% on Wednesday, after the company's leaders said they expected sales trends to improve, but still be roughly flat from last year.
In the three-month period that ended Jan. 31, Lowe's net income was $1.13 billion, or $1.99 per share, compared with $1.02 billion, or $1.77 per share, in the year-ago period. Revenue fell from $18.60 billion in the year-ago quarter.
Lowe's adjusted earnings per share figure excluded an $80 million pretax gain associated with the 2022 sale of its Canadian retail business, which added 6 cents per share to fourth-quarter earnings.
Investors are looking for signs that the home improvement market is picking up again. Slower housing turnover and higher borrowing costs have kept some customers on the sidelines. Lowe's net sales for the 2024 fiscal year totaled $83.67 billion, down 3% from the prior fiscal year.
In the fiscal fourth quarter, trends looked better. Comparable sales rose 0.2%, boosted by online gains, high single-digit growth among home professionals and sales related to rebuilding efforts after hurricanes Milton and Helene. That slightly positive metric ended eight consecutive quarters of comparable sales declines. It also exceeded Wall Street's expectations. Analysts had anticipated a 1.8% decline in comparable sales.
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Lowe's
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https://www.cnbc.com/2025/04/15/home-improvement-retailer-lowes-to-buy-artisan-design-for-1point33-billion.html?&qsearchterm=Lowe%27s
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Home improvement retailer Lowe's to buy Artisan Design for $1.33 billion
| 2025-04-15T00:00:00
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An exterior view of a Lowe's home improvement store in Selinsgrove.
U.S. home improvement retailer Lowe's said on Monday it has agreed to buy Artisan Design for $1.33 billion from private equity firm Sterling Group.
The deal would help expand Lowe's offering for its professional customers at a time when the company and its rival Home Depot are facing slower demand for home remodels and construction activity.
Last year, Home Depot acquired building materials supplier SRS Distribution in an $18.25 billion deal to broaden its professional customer base.
Dallas, Texas-based Artisan Design sells and provides installation services, including flooring, cabinets and countertops, to homebuilders and property managers.
Artisan made $1.8 billion in fiscal 2024 revenue and has 3,200 installers across 18 states, according to the statement by Lowe's.
The retailer will fund the deal with cash on hand, with the transaction expected to close in the second quarter of 2025, subject to receipt of necessary approvals.
Centerview Partners is acting as lead financial adviser to Lowe's, and RBC Capital Markets is acting as lead financial adviser to Artisan Design.
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Lowe's
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https://www.cnbc.com/2025/02/26/stocks-making-the-biggest-moves-premarket-smci-gm-low-intu-more.html?&qsearchterm=Lowe%27s
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Stocks making the biggest moves premarket: Super Micro Computer, General Motors, Lowe's, Intuit and more
| 2025-02-26T00:00:00
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Check out the companies making headlines in premarket trading. Super Micro Computer — Shares soared 21% after the technology company met the Nasdaq's listing deadline to report financial results for the most recent fiscal year to the Securities and Exchange Commission. The firm said it has "regained compliance" with the Nasdaq for its filling requirements. General Motors — Shares popped almost 4% after announcing an increase of its quarterly dividend by 25% to 15 cents per share. The automaker also initiated a $6 billion share repurchase plan, with $2 billion in buybacks slated for the second quarter. Anheuser-Busch InBev — Shares of the beermaker jumped more than 8% after a fourth-quarter earnings beat . Anheuser-Busch InBev earned 88 cents per share, excluding items, which was above the 69 cents per share projected by analysts, according to FactSet. Revenue of $14.84 billion topped expectations of $14.18 billion. Revenue and underlying profit rose year over year despite a 1.9% decline in sales volume. Stellantis — The automaker slid 3% after reporting a 70% drop in full-year profit. Stellantis recorded 2024 net profit of 5.5 billion euros, under the consensus estimate of 6.4 billion from analysts polled by LSEG. Lowe's — The home improvement stock popped nearly 4% after posting a fiscal fourth-quarter earnings and revenue beat . In the last quarter, Lowe's earned $1.93 per share, after adjustments, on $18.55 billion in revenue, exceeding the $1.84 and $18.29 billion, respectively, that analysts polled by LSEG predicted. Lowe's said full-year total sales could see modest growth. Lucid Group — The electric vehicle maker's shares fell 8% in premarket trading after the company said it expects to more than double vehicle production this year to 20,000 units. Lucid reported a narrower-than-expected fourth-quarter loss. The firm also said CEO Peter Rawlinson has stepped down. Alibaba — U.S.-listed shares of the China-based company popped about 5% after Alibaba said its AI video generation model would be free to use . Alibaba said the four models in its Wan2.1 series would be available on Alibaba Cloud's Model Scope and the Hugging Face platforms. Workday — Shares rallied nearly 11%. The finance and human resources software maker reported adjusted earnings of $1.92 per share for the fourth quarter, topping profit of $1.78 per share expected by a LSEG analyst poll. Revenue came in at $2.21 billion, more than the $2.18 billion consensus estimate. Instacart — The grocery delivery platform dove more than 8%. Instacart reported fourth-quarter revenue of $883 million, below the $891 million estimate from LSEG. The company expects adjusted EBITDA of between $220 million and $230 million in the current quarter, which is lower than the forecast of $237.1 million FactSet. Cava Group — Shares of the restaurant company added almost 4% after fourth-quarter revenue of $227 million beat analysts' forecast of $224 million, according to LSEG. However, quarterly earnings missed analysts' estimates and its annual same-store sales forecast came out below estimates due to weak demand. Intuit — The tax software stock jumped 8% on stronger-than-expected earnings for the fiscal second quarter. Intuit earned an adjusted $3.32 per share on $3.96 billion in revenue, while analysts polled by LSEG penciled in a profit of $2.58 a share and revenue at $3.83 billion. Dlocal — U.S.-listed shares of the Uruguayan payment platform advanced 6% on the back of JPMorgan's upgrade to overweight from neutral. JPMorgan said the stock is at an attractive entry point with lower expectations and a formidable path for growth. Confluent — The data streaming stock added 4% on the heels of UBS' upgrade to buy from neutral. UBS cited optimistic customer outlooks and potential upside tied to AI as some of the drivers of the call. Lumen Technologies — Shares rallied more than 6% after Citi upgraded the telecommunications company to buy/high risk, saying Lumen is poised to expand consolidated EBITDA "significantly" on an annual basis in 2026. Citi's $6.50 price target, lowered from $8 previously, nevertheless implies more than 45% upside from Tuesday's close. TJX Companies — The discount retailer ticked nearly 3% higher after beating earnings expectations for the fiscal fourth quarter. The Marshall's and Home Goods parent earned $1.23 per share, beating the consensus forecast from analysts polled by LSEG by 7 cents a share. TJX also recorded $16.35 billion in revenue, topping the $16.20 billion prediction from Wall Street. — CNBC's Yun Li, Lisa Kailai Han, Pia Singh, Michelle Fox, Sarah Min and Jesse Pound contributed reporting
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Pfizer
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https://www.cnbc.com/2025/10/01/trump-pharmaceutical-tariffs-pfizer-deal.html?&qsearchterm=Pfizer
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Trump's pharmaceutical tariff threat loses bite after Pfizer deal reassures drugmakers
| 2025-10-01T00:00:00
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U.S. President Donald Trump shakes hands with Pfizer CEO Albert Bourla (L) as he announces a deal with Pfizer to lower Medicaid drug prices in the Oval Office of the White House on September 30, 2025 in Washington, DC.
President Donald Trump's long-awaited threat to impose pharmaceutical tariffs may not pose as much of a challenge as drugmakers once feared, following his new drug pricing deal with Pfizer .
Trump's Tuesday agreement with the company to voluntarily lower U.S. drug prices included a three-year exemption from pharmaceutical-specific tariffs, as long as the firm further invests in domestic manufacturing. Pfizer on Tuesday pledged to put $70 billion into U.S. manufacturing and research, on top of previous investments.
That deal brought relief and clarity to Pfizer and the broader pharmaceutical industry, signaling that many drugmakers could strike similar agreements that would make them immune to the levies for most of Trump's term.
The Trump administration also made it clear that it will try to secure those drug pricing agreements before it imposes tariffs. Commerce Secretary Howard Lutnick on Tuesday said he will let companies finish their negotiations with the administration before setting pharmaceutical-specific levies under the legal authority known as Section 232.
Trump on Tuesday said he's working with other drugmakers to secure similar pacts over the next week, and the White House confirmed that Eli Lilly is expected to strike the next drug pricing deal. The vast majority of major pharmaceutical companies, including Eli Lilly, Johnson & Johnson , AstraZeneca , AbbVie , Roche , Novo Nordisk and Amgen have unveiled new U.S. investments in manufacturing or research facilities in recent months to build goodwill with the president.
Shares of Pfizer and several other drugmakers rose on Tuesday following the agreement. Pfizer's stock ended more than 6% higher, while Eli Lilly rose 5%. Shares of AbbVie and AstraZeneca climbed more than 3%, while J&J and Bristol Myers Squibb's stocks increased more than 2% each.
The Pfizer deal adds certainty for drugmakers and shifts the president's policies "potentially away from Pharma tariffs," BMO Capital Markets analyst Evan Seigerman said in a note on Tuesday.
"Today's deal seems to set a path for other pharmaceutical players to follow, allowing for headline pricing concessions and a Trump 'win' without more punitive implementation" of the president's so-called most-favored-nation policy or tariffs, Seigerman added.
Trump in May signed an executive order reviving that controversial plan, which aims to tie the prices of some medicines in the U.S. to the significantly lower ones abroad. As part of that effort, Trump in July sent letters to 17 drugmakers — including Pfizer — calling on them to take steps to lower drug prices by Sept. 29.
"As we think about the group more broadly, we would not be surprised to see a number of similar agreements to help remove uncertainty on the [most-favored-nation policy and] tariffs," JPMorgan analyst Chris Schott said in a note Tuesday.
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Pfizer
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https://www.cnbc.com/2025/09/30/trump-pfizer-drug-price-agreement.html?&qsearchterm=Pfizer
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Trump, Pfizer agree to lower U.S. drug prices, exempt company from pharma tariffs
| 2025-09-30T00:00:00
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U.S. President Donald Trump announces a deal with Pfizer to lower Medicaid drug prices in the Oval Office of the White House on Sept. 30, 2025 in Washington, DC.
President Donald Trump on Tuesday announced an agreement with Pfizer to voluntarily sell its medications for less, as his administration pushes to link U.S. drug prices to cheaper ones abroad.
Pfizer has agreed to take measures to reduce U.S. drug prices, including selling its existing drugs to Medicaid patients at the lowest price offered in other developed nations, or what Trump calls the most-favored-nation price, according to the president. Pfizer will also guarantee the same "most-favored-nation" pricing on its new drugs for Medicare, Medicaid and commercial payers.
As part of the deal, Pfizer has also agreed to a three-year grace period during which the company's products won't face pharmaceutical-specific tariffs – as long as the drugmaker further invests in U.S. manufacturing. The company plans to invest $70 billion to reshore domestic drug manufacturing and research facilities.
Shares of Pfizer rose more than 4% on Tuesday after the announcement.
"Pfizer has agreed to provide some of the most popular current medications to our consumers at heavily discounted prices anywhere between 50% and even 100%," Trump said, adding that those drugs will be available for direct purchase at a discount online on a website the administration is calling TrumpRx.gov.
Trump said he's working with other drugmakers to secure similar agreements over the next week, adding that Pfizer is the first.
"If we don't make a deal, we're going to tariff them," he said of the other companies' drugs.
The White House confirmed with CNBC's Eamon Javers that Eli Lilly is in negotiations with Trump for the next drug pricing deal, without providing further details on how far along talks are.
The deal comes as Pfizer and 16 other drugmakers face Trump's Monday deadline to take steps to lower drug prices, as outlined in letters from the president. Trump in May signed an executive order reviving a controversial plan, the "most favored nation" policy, that aims to tie the prices of some medicines in the U.S. to the significantly lower ones abroad.
During the press conference, Pfizer CEO Albert Bourla said the company satisfied all four of the requests Trump outlined in his letter. Among the other steps is pursuing tougher price negotiations abroad and adopting models that sell its medicines directly to consumers or businesses.
"The big winner clearly will be the American patients, there is no doubt," Bourla said. "They are the ones that will see a significant impact on their ability to buy medicines." But he said "American innovation and and the American economy" will also be "winners" with the agreement.
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Pfizer
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https://www.cnbc.com/2025/10/01/stocks-making-the-biggest-moves-midday-pfe-nke-cag-ctva-geo-rddt.html?&qsearchterm=Pfizer
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Stocks making the biggest moves midday: Pfizer, Nike, Conagra, Corteva, GEO Group, Tesla, Reddit and more
| 2025-10-01T00:00:00
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Check out the companies making the biggest moves midday: Drug stocks — Shares of drugmakers rallied a second day as investors bet the industry will strike more deals with the Trump administration. On Tuesday, Pfizer received a three-year exemption to tariffs in exchange for investing in domestic manufacturing and discounting drug prices for Medicaid patients. Pfizer , Merck , Eli Lilly and Amgen all advanced about 6%. Conagra — The maker of Duncan Hines cake mixes rose 4% after fiscal first-quarter revenue; adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA; and earnings per share all topped Wall Street consensus estimates, according to numbers compiled by FactSet. Corteva — The agricultural technology company slumped 7% after setting plans to split into two publicly traded companies in the second half of 2026. Acuity Brands — The lighting and building management controls maker jumped 9% after fiscal fourth-quarter adjusted earnings per share of $5.20 beat analysts' estimate for $4.83, according to a FactSet consensus forecast. Operating profit rose 9% and margins improved to 18.6%. Axcelis Technologies and Veeco Instruments — Axcelis dropped more than 6% and Veeco climbed almost 5% after the two semiconductor fabrication equipment makers agreed to merge in an all-stock deal expected to close in the second half of next year. Axcelis shareholders will control 58% of the stock in the new company and a majority of the board seats. GEO Group — The private prison provider climbed more than 7% after winning a two-year contract from U.S. Immigration and Customs Enforcement for services under an "intensive supervision appearance program." No dollar value was provided. AST SpaceMobile — The Texas-based satellite designer and manufacturer soared 13% after saying on social media that its BlueBird 6 completed final assembly and testing, and it expects 45 to 60 satellites in orbit by the end of next year. Tesla — The Elon Musk-led electrical vehicle maker gained 2% after hiking its vehicle lease rates following the expiration of a $7,500 federal tax credit, Reuters reported Wednesday. Reddit – Shares fell nearly 10% after new data showed Chat GPT's citations for the social media platform dropped at least 8 percentage points from the beginning of September. AES — The renewable and thermal power producer climbed 15% after a Financial Times report that Blackrock-owned Global Infrastructure Partners is in late-stage talks to acquire the Virginia-based utility. Sunrun — The solar panel maker jumped 8% after a Jefferies upgrade to buy from hold highlighted Sunrun's strong cash generation. Arm Holdings -- Shares of the chipmaker rose nearly 4% after Reuters reported that Qualcomm will shift its chips to the latest Arm computing architecture . The decision may have soothed investor concerns as the companies remain in a legal dispute. Arm plans to appeal a legal decision on Tuesday that favored Qualcomm. Peloton — The exercise equipment maker dropped 9% after saying it is revamping its product assortment , launching a commercial equipment line and raising prices for both subscriptions and hardware ahead of the holiday season. Nike — The athletic shoe and clothing maker rose more than 5% after beating Wall Street expectations for both revenue and net income in the first fiscal quarter and saying it sees better-than-expected sales growth. Nike warned that sales could slide this holiday season, however, and that it is experiencing higher tariff costs than previously anticipated. Coinbase — The cryptocurrency platform advanced 3% after BTIG initiated research coverage with a buy rating, and crypto-related stocks are moving higher Wednesday as bitcoin rallies. Additionally, The Information said Tuesday that the U.S. Securities and Exchange Commission is developing a plan to regulate stock trading on blockchains — a regulatory shift that could benefit Coinbase. Netflix — The media streaming stock fell nearly 3% after Tesla CEO Elon Musk posted Wednesday on X that users should cancel their Netflix subscriptions, kicking off a wave of boycott calls. Lithium Americas — Shares jumped 30% after the Department of Energy said Tuesday it plans to take a 5% equity stake in the lithium miner. Wolfspeed — The chipmaker slumped 17% after formally exiting Chapter 11 bankruptcy protection, saying it reduced its total debt by some 70%, cut its annual cash interest costs by about 60% and has "ample liquidity" to continue supplying customers. Cal-Maine Foods — The egg producer dropped 3% after fiscal first-quarter earnings per share lagged Wall Street estimates, according to numbers compiled by FactSet, and saying it received a subpoena from New York State asking for information tied to an investigation into anticompetitive practice and high prices. — CNBC's Elizabeth Napolitano, Christina Cheddar-Berk, Alex Harring, Fred Imbert and Sarah Min 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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Pfizer
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https://www.cnbc.com/video/2025/10/01/pres-trumps-deal-with-pfizer-is-pretty-devastating-to-pbms-and-insurance-companies-john-lamattina.html?&qsearchterm=Pfizer
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Pres. Trump's deal with Pfizer is pretty devastating to PBMs and insurance companies: John Lamattina
| 2025-10-01T00:00:00
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Pres. Trump's deal with Pfizer is pretty devastating to PBMs and insurance companies: John Lamattina
John Lamattina, PureTech Health senior partner and former Pfizer Global R&D president, joins 'Squawk Box' to discuss President Trump's deal with Pfizer, impact on drug prices, what the deal means for drugmakers, and more.
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Pfizer
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https://www.cnbc.com/2025/09/30/healthy-returns-pfizers-new-obesity-bet-metsera-releases-drug-data.html?&qsearchterm=Pfizer
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Healthy Returns: Pfizer’s new obesity bet, Metsera, releases encouraging data on lead drug
| 2025-09-30T00:00:00
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In this article PFE
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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. Pfizer 's newest bet on obesity is already showing promise. The company last week said it would buy weight loss drugmaker Metsera in an up to $7.3 billion deal, including future payments, that is expected to close at the end of the year. Just a week later, Metsera released data from mid-stage trials on its lead obesity drug candidate that will allow the company to start phase three studies on the treatment later this year. Metsera, founded in 2022, brings a pipeline of both oral and injectable treatments with different targets. The company picked up those drugs through its own licensing and acquisition deals. But all eyes are on Metsera's injection, MET-097i, which is the furthest along in development. The company is developing the injection to be taken once a month, which could offer a convenient edge over the weekly injections currently dominating the market. MET-097i is in the GLP-1 class, which is the same category as Novo Nordisk 's obesity drug Wegovy and Eli Lilly 's rival treatment Zepbound. Early data suggest it can deliver strong weight loss with fewer gastrointestinal side effects than the treatments on the market. The new data on Monday appears to back that up – at least for now. In a note Monday, JPMorgan analyst Chris Schott said, "more broadly, we continue to see MET-097i as one of several emerging competitors that we believe will take some share" from Eli Lilly and Novo Nordisk over time. He called the results "solid," adding that the drug's overall profile looks in line with Eli Lilly's weight loss drug Zepbound. Let's break down the results.
How much weight did patients lose?
Metsera said the highest dose of its injection demonstrated weight loss of up to 14.1% on average after 28 weekly doses in a mid-stage trial called VESPER-1. Some participants lost much more, with the highest being 26.5% weight loss. VESPER-1 has an ongoing extension study that includes less frequent dosing options. Metsera said an exploratory analysis at the end of the weekly dosing phase of the extension at 36 weeks demonstrated "substantial and continued weight loss," meaning that no plateau had happened. It's difficult to compare the results to those of other drugs without head-to-head studies, but the weight loss caused by Metsera's injection appears to be encouraging. Wegovy caused around 15% weight loss after 68 weeks in larger phase three trials. Zepbound has shown weight loss above 20% in late-stage studies. The other trial, VESPER-3, is ongoing, so Metsera did not report weight loss data on Monday. That trial is examining monthly dosing of the injection, with initial weight loss data expected by year-end or early 2026, according to the company. The drug has a long half-life – or the time it takes for the concentration of the drug in your body to reduce by half – which makes once-a-month dosing possible.
How well did patients tolerate the drug?
Patients appeared to handle Metsera's injection well in both studies, based on existing data. But we still need more detailed data from the trials to say whether it can be tolerated better than the injections on the market, while also offering competitive weight loss. The company said at a starting dose of 0.4 milligrams, its injection was as well tolerated as a placebo across both trials. Metsera said gradual, one-to-two step increases in that dose could give the drug a tolerability edge over rivals in the GLP-1 class. In VESPER-3, patients who gradually increased their dose to the highest dose – 1.2 milligrams – over 12 weeks saw "little diarrhea, with only modest increases in nausea and vomiting." Rates of nausea and vomiting among those patients were 13% and 11% above placebo, respectively. Even at higher doses without a gradual ramp-up, the injection's side effects in VESPER-1 were comparable to other approved weight-loss drugs, according to Metsera. Notably, only 2.9% of patients in that trial – two out of 239 patients – stopped treatment due to side effects. While it's only a mid-stage study, that discontinuation rate is encouraging. Other obesity drugs in development have reported discontinuation rates nearing 10%, which is slightly above that of the existing treatments on the market. Overall, we still want to see late-stage trials on MET-097i and Metsera's other drugs. If everything goes as planned, the company's pipeline could deliver sizable returns for Pfizer down the line. In a note last week, Leerink Partners analyst David Risinger said the firm estimates Metsera's obesity candidates have the potential to generate more than $5 billion in combined peak annual sales. We'll be sure to cover them closely, so stay tuned. Feel free to send any tips, suggestions, story ideas and data to Annika at a new email: annika.constantino@versantmedia.com.
Latest in health-care: A high stakes Medicare open enrollment
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Pfizer
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https://www.cnbc.com/video/2025/09/30/what-pfizers-lower-drug-price-agreement-may-mean-for-the-company.html?&qsearchterm=Pfizer
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What Pfizer's lower drug price agreement may mean for the company
| 2025-09-30T00:00:00
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In this video
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What Pfizer's lower drug price agreement may mean for the company
CNBC's Angelica Peebles joins "The Exchange" to detail Pfizer's agreement with the Trump administration to voluntarily sell its medications at lower prices in the United States.
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Pfizer
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https://www.cnbc.com/2025/09/30/stocks-making-the-biggest-moves-midday-pfe-smtc-spot-path-crwv.html?&qsearchterm=Pfizer
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Stocks making the biggest moves midday: Pfizer, Semtech, Spotify, UiPath, CoreWeave and more
| 2025-09-30T00:00:00
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Check out the companies making the biggest moves midday: Semtech — The signal components maker rallied 8% after the company announced the launch of new optical receivers for artificial intelligence networks alongside Poet Technologies. On top of that, Oppenheimer upgraded the stock to outperform following a meeting with management. Credo Technology — Shares fell more than 1% after the connectivity components maker agreed to acquire the privately held Hyperlume, which " provides microLED-based interconnects for use in hyperscale and AI-focused data centres." UiPath — The automation stock gained 10% after the company announced partnerships with OpenAI, Snowflake and Nvidia. As part of the agreements, the companies will incorporate UiPath's automation technology into their AI capabilities. Pfizer — The maker of Eliquis, a blood thinner, rose more than 3% after CNBC reported that the drugmaker and the Trump administration will announce an agreement to lower Medicaid drug prices. Pfizer would also win a three-year reprieve from planned pharmaceutical tariffs in return for expanding U.S. manufacturing. Spotify — Shares dropped 5% after the streaming platform said CEO Daniel Ek will step down from his position and move to the role of executive chairman. Separately, Goldman Sachs downgraded the stock to neutral from buy, saying it has little room to run after its runup. It's up more than 54% this year. Firefly Aerospace — The space technology company's stock fell 21% after one of its rocket boosters exploded during preflight testing at its Texas facility. Firefly Aerospace said no other facilities were affected and it is assessing the effect of the explosion. Wolfspeed — The semiconductor components maker's stock jumped 44%, one day after surging almost 1,700%. Wolfspeed said Monday it successfully completed a financial restructuring and emerged from Chapter 11 bankruptcy protection. Progress Software — The maker of AI-powered infrastructure software earned third-quarter adjusted earnings of $1.50 per share on revenue of $250 million, topping the LSEG consensus estimate of adjusted earnings per share of $1.30 on revenue of $240 million. Progress also raised its full-year guidance. Shares moved 3.5% higher. Instacart — Shares of the grocery delivery company lost 6.5% after a downgrade at BTIG to neutral from buy. The investment bank cited stepped-up competition for the call. United Natural Foods — The grocery distributor rose 17% after a fiscal fourth-quarter loss of 11 cents per share topped analysts' estimate of a loss of 18 cents per share, according to FactSet data. Revenue also beat expectations, coming in at $7.7 billion, versus the $7.64 billion consensus estimate. Freeport-McMoRan — Bank of America upgraded the copper miner to buy from neutral, saying it believes key risks around its halted mine in Indonesia are priced in and that its commodities team is bullish on the key metal. Shares of Freeport-McMoRan rose 3%. CoreWeave — The stock jumped 13% after CoreWeave announced an agreement to provide Meta with $14.2 billion of AI cloud infrastructure. — CNBC's Sarah Min and Scott Schnipper contributed reporting.
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Pfizer
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https://www.cnbc.com/video/2025/09/30/trump-pfizer-agreed-to-heavily-discount-prices-for-some-current-drugs.html?&qsearchterm=Pfizer
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Trump: Pfizer agreed to heavily discount prices for some current drugs
| 2025-09-30T00:00:00
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Trump: Pfizer agreed to heavily discount prices for some current drugs
President Donald Trump speaks from the Oval Office to announce that Pfizer has agreed to take measures to lower U.S. drug prices, including selling its existing drugs to Medicaid patients at the lowest price offered in other developed nations.
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Pfizer
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https://www.cnbc.com/video/2025/09/30/president-trump-to-announce-drug-pricing-deal-with-pfizer.html?&qsearchterm=Pfizer
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President Trump to announce drug-pricing deal with Pfizer
| 2025-09-30T00:00:00
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President Trump to announce drug-pricing deal with Pfizer
CNBC's Eamon Javers joins 'Squawk on the Street' with the latest news.
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Pfizer
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https://www.cnbc.com/2025/09/22/pfizer-to-buy-weight-loss-drug-developer-metsera.html?&qsearchterm=Pfizer
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Pfizer boosts obesity drug prospects with $7.3 billion deal to buy Metsera
| 2025-09-22T00:00:00
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Pfizer on Monday said it would buy weight loss drugmaker Metsera in an up to $7.3 billion deal, including future payments, as it scrambles to win a slice in the booming obesity drug market.
Pfizer said it will pay an initial $47.50 a share in cash for Metsera, a nearly 43% premium to the biotech company's Friday's closing price of $33.32. That gives the deal an enterprise value of $4.9 billion.
The pact also includes a contingent value right worth up to $22.50 a share based on potential clinical and regulatory achievements for Metsera's medicines, which could bring the total value to $70 a share.
The deal is expected to close at the end of the year. Shares of Metsera rose more than 60% in premarket trading on Monday, while Pfizer's stock rose more than 1%.
The move comes after a string of setbacks for Pfizer in the obesity space. The pharmaceutical giant struggled to develop its own lead obesity drug candidate, danuglipron, before deciding to scrap it entirely in April due to safety concerns. Pfizer also discontinued a different once-daily pill in June 2023 due to elevated liver enzymes in patients who received it.
Pfizer has earlier-stage obesity drugs in its pipeline that work in different ways, but the company has faced mounting investor pressure to accelerate its push into the market.
The opportunity could be huge. Some analysts expect the weight loss drug space could be worth roughly $100 billion by the 2030s, with room for new rivals to compete with popular injections from Eli Lilly and Novo Nordisk .
Metsera, founded in 2022, brings a pipeline of both oral and injectable treatments with different targets that the company had picked up through its own licensing and acquisition deals. That includes a GLP-1 drug called MET-233i, which helped patients lose up to 8.4% of their weight in 36 days in a small, early-stage trial. Metsera is developing that treatment as a potential once-monthly injectable, meaning that patients can take it less frequently than existing weekly injections.
Metsera's pipeline also includes a monthly drug targeting a hormone called amylin, along with two oral GLP-1 candidates "expected to begin trials imminently," Pfizer said in a release.
"The proposed acquisition of Metsera aligns with our focus on directing our investments to the most impactful opportunities and propels Pfizer into this key therapeutic area," Pfizer CEO Albert Bourla said in a statement. "We are excited to apply our deep cardiometabolic experience and manufacturing and commercial infrastructure to accelerate a portfolio that includes potential best-in-class injectables."
In a note on Monday, Leerink Partners analyst David Risinger said the firm estimates Metsera's obesity candidates have the potential to generate more than $5 billion in combined peak annual sales. In a separate note on Monday, JPMorgan analyst Chris Schott said Metsera's experimental drugs "should accelerate" Pfizer's entry into the market.
The New York-based Metsera went public this year in one of the biggest biotech listings of 2025. It is among several companies racing to develop next-generation obesity treatments following the success of weekly injections such as Eli Lilly's obesity drug Zepbound and Novo Nordisk's rival Wegovy.
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Intel
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https://www.cnbc.com/2025/09/27/intel-more-deeply-overbought-after-another-strong-week-of-gains.html?&qsearchterm=Intel
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Here are the most overbought stocks due for a decline. Intel leads the list
| 2025-09-27T00:00:00
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Intel shares may be getting bit long in the tooth, at least in the near term. The chipmaker rallied around 21% this week after the Wall Street Journal reported Intel had reached out to Apple and Taiwan Semiconductor for a potential investment. The Journal also said the U.S. was planning a push for chipmakers to match domestic semiconductor output to the amount they import. That latest gain put Intel up nearly 80% year to date. The only problem? The stock is now even deeper into overbought territory. Intel's relative strength index now sits at 80, up from 77 a week ago . An RSI above 70 signals an asset may have run up too much too fast — making it susceptible to a pullback. "The chipmaker's rise from $20 to $35 over the past month has very clearly been fueled by punchy news and while we think CEO Lip-Bu Tan is doing more right now than just hunting for headlines that will push his stock higher, we do wonder whether Tan is turning INTC into a quasi-public company that exists to serve its newest investors," wrote Don Bilson, head of event-driven research at Gordon Haskett. "Even if INTC does become a puppet for its masters, we suppose that beats the hand it was playing two months ago when the stock was rudderless and trading for $20/share." That said, the last time Intel's RSI was this high was on Feb. 19, when it reached 80 as well. Between then and March 11, the stock slumped more than 23%. Other stocks in the S & P 500 also waded into overbought territory this week, with their RSIs topping 70 — and their weekly advanced eclipsing at least 5%. With an RSI of 90, Marathon Petroleum is the most overbought stock in the S & P 500. Through Friday afternoon trading, shares were up more than 7% for the week. IBM also made the list, with an RSI of nearly 79 and a one-week gain of more than 7% as enthusiasm swirled around the company's role in quantum computing. HSBC disclosed that it used IBM's Heron quantum processor to improve its bond trading. "We believe IBM is a clear leader in the quantum market," Morgan Stanley analyst Erik Woodring wrote Friday. "Our research suggests that IBM has the largest and broadest ecosystem of advanced quantum computers today, totaling 75+ system installations since 2017, meaning IBM has four more quantum computers installed globally than the entire rest of the world (i.e. all other quantum vendors), combined." Still, for all that enthusiasm, Woodring only an equal weight rating on IBM shares. ( 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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Intel
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https://www.cnbc.com/video/2025/09/26/fast-money-traders-break-down-how-to-trade-intels-rally.html?&qsearchterm=Intel
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'Fast Money' traders break down how to trade Intel's rally
| 2025-09-26T00:00:00
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'Fast Money' traders break down how to trade Intel's rally
CNBC’s “Fast Money” team discusses what they make of the rally in Intel's stock as support for the chipmaker grows.
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Intel
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https://www.cnbc.com/video/2025/09/24/intel-desperate-get-14a-foundry-customer-apple-susquehanna-chris-rolland.html?&qsearchterm=Intel
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Intel desperate to get 14A foundry customer, says Susquehanna’s Chris Rolland
| 2025-09-24T00:00:00
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Intel desperate to get 14A foundry customer, says Susquehanna’s Chris Rolland
CNBC’s “Fast Money” team is joined by Susquehanna’s Chris Rolland to discuss the possibility of Apple investing in Intel and what it may mean for Intel's comeback plan.
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Intel
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https://www.cnbc.com/video/2025/09/24/fast-money-traders-talk-possible-apple-investment-in-intel.html?&qsearchterm=Intel
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'Fast Money' traders talk about possibility of Apple investing in Intel
| 2025-09-24T00:00:00
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'Fast Money' traders talk about possibility of Apple investing in Intel
CNBC’s “Fast Money” team discusses what it could mean for Intel if Apple invests in the company following a Bloomberg report about Intel seeking cash from Apple as part of its comeback bid.
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Intel
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https://www.cnbc.com/video/2025/09/24/intel-seeks-investment-from-apple-as-part-of-its-comeback-bid-report.html?&qsearchterm=Intel
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Intel seeking investment from Apple as part of its comeback bid: Report
| 2025-09-24T00:00:00
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Intel seeking investment from Apple as part of its comeback bid: Report
CNBC's Kristina Partsinevelos discusses a Bloomberg report about how Intel is seeking an investment from Apple as part of its comeback bid.
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Intel
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https://www.cnbc.com/2025/09/26/stocks-making-the-biggest-moves-midday-ba-mir-pcar.html?&qsearchterm=Intel
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Stocks making the biggest moves midday: Boeing, Paccar, Intel, Mirion Tech and more
| 2025-09-26T00:00:00
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Check out the companies making the biggest moves midday: Paccar — The maker of Peterbilt trucks jumped 5% after President Donald Trump slapped a 25% tariff on imported heavy trucks starting Oct. 1. Boeing - The aircraft maker rallied more than 4% after Turkish Airlines ordered 75 Boeing 787 aircraft and said it completed negotiations to buy 150 737 MAX planes. The deal came as Turkey President Tayyip Erdogan met with President Donald Trump. In addition, the Federal Aviation Administration said it "will allow limited delegation to Boeing for issuing airworthiness certificates for some 737 MAX and 787 airplanes" starting Monday. An airworthiness certificate confirms an aircraft is safe to operate. Intel — The chipmaker added 4%. The Wall Street Journal reported that Intel had approached Apple , Taiwan Semiconductor and other companies about investing in the beleaguered company. Semiconductor companies — Shares of some chipmakers slipped after a WSJ repor t that Trump is considering imposing tariffs on semiconductor companies that don't maintain a 1:1 ratio of domestically manufactured to imported semiconductors. STMicroelectronics , Marvell Technology and Taiwan Semi fell about 2%. Domestically-oriented GlobalFoundries surged 5% and and Teradyne edged up 1%. Furniture stocks — President Trump said he is imposing a 30% tariff on upholstered furniture, effective Oct. 1, sending shares of furniture retailers lower. RH lost about 4% while Williams-Sonoma eased 1%. U.S. pharmaceutical stocks — Trump announced a 100% tariff on branded, patented drugs entering the U.S., but exempted companies building manufacturing plants in the U.S. Eli Lilly and Merck added about 1%. U.S.-listed shares of Denmark's Novo Nordisk slipped about 2%. InterContinental Hotels Group — The owner of Kimpton, Hotel Indigo and a host of hotel brands increased more than 4% after JPMorgan double upgraded the British-based chain to overweight from underweight and raised its price target by 22%. Concentrix — The technology and services company dropped 10% after third-quarter earnings disappointed investors. Adjusted earnings came in at $2.78 per share, less than a consensus estimate of $2.87 per share as compiled by LSEG. MasterBrand , American Woodmark — Each manufacturer rose more than 5%. FactSet's StreetAccount said each company gets more than 95% of revenue in the U.S., has blamed foreign imports for hurting their business and stand to benefit from the President's proposed 50% tariff on cabinet imports. Mirion Technologies — The radiation safety company jumped 12% after JPMorgan began research coverage with an overweight weighting and $28 price target, and a report in Politico said the Dept. of Energy is poised to announce $900 million in funding for domestic uranium enrichment. Six Flags Entertainment — The amusement park company rose 4%. Shareholder Land & Buildings sent a public letter to stakeholders outlining how the company can create value by monetizing its real estate holdings, including spinning off real estate into an investment trust. Perpetua Resources — The exploration and development-stage miner climbed 14% after saying it's ready " to enter into long-term off-take arrangements for commercial grade antimony ." Perpetua says its Stibnite Gold Project is the only domestic reserve of antimony in the U.S. CleanSpark — The bitcoin miner sank 7% following a downgrade at JPMorgan to neutral. The bank said shares appear to have fully priced in CleanSparks expansion to 50 exahashes per second (EH/s) and believes investors need more clarity around its thinking on a plan to invest in high-performance computing (HPC) capabilities before it can move higher. Riot Platforms — The bitcoin miner was upgraded at Citigroup to buy/high risk from neutral, sending the stock 2% higher after having fallen 4.1% the first four days of the week. Costco Wholesale — Shares fell 2% after fiscal fourth-quarter earnings and revenue topped Wall Street estimates. The warehouse retailer posted earnings of $5.87 per share on revenue of $86.16 billion, above consensus estimates for $5.80 per share on revenue of $86.06 billion, based on analysts surveyed by LSEG. Costco reported double digit gains in both membership income and e-commerce business. Costco shares have lagged the market in 2025, rising less than 3%. Alkermes — The biopharmaceutical company rose 5% after RBC Capital Markets upgraded the stock to outperform from sector perform and lifted its price target to $44 from $42. —CNBC's Michelle Fox, Yun Li, Alex Harring and Sarah Min contributed reporting.
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Intel
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https://www.cnbc.com/2025/09/19/intel-could-be-finding-its-footing-after-big-nvidia-deal-an-options-trade-to-ride-out-more-gains.html?&qsearchterm=Intel
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Intel could be finding its footing after big Nvidia deal. An options trade to ride out more gains
| 2025-09-19T00:00:00
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After Intel and the Trump administration reached a historic agreement a month ago, the U.S. government invested $8.9 billion in Intel common stock, the beleaguered chip maker seemingly became stabilized. INTC then saw a nearly 23% pop Thursday after news broke of Nvidia, the world's leading chipmaker, investing $5 billion in Intel and committing to collaborate with the former chip champion. Despite Intel being up almost 50% year to date, I want to use options as I believe Intel will continue to find its footing. Intel shares on Thursday made their biggest one-day jump since 1987. Nvidia jumped up by more than 3%, galvanizing its $4 trillion market cap. A month after the Trump administration confirmed it had finagled a 10% stake in Intel, Nvidia said it would join forces to work on custom datacenters that remain at the heart of the AI revolution. The partnership comes just weeks after Intel found itself in trouble with the White House. President Donald Trump publicly blasted Intel CEO Lip-Bu Tan and suggested an immediate resignation, citing conflicts of interest from his investments in China. Trump quickly changed his opinion after meeting with Tan. Nvidia (NVDA) is betting big on Intel (INTC). The world's most valuable chipmaker (current market cap of $4.3 trillion) is investing $5 billion for nearly 4% of Intel and is seeking to partner on new PC and data center chips. Since the U.S. government, and Nvidia CEO Jensen Huang himself, have synthetically created the "Intel Put," I think selling a put to finance an upside call to allow for further upside retracement is a logical approach. Intel is an essential name to the U.S. economy and now has a chance to reclaim some glory. The trade (risk reversal) Sold the Nov. 21 $30 INTC Put for $2.55 Bought the Nov. 21 $32 INTC Call for $2.15 I established this trade as a slight credit spread, collecting $0.40 or roughly $40 per one lot INTC was oscillating around $30 at the time of this trade An investor must be prepared to own INTC at $29.60 in the event Intel turns lower in the next two months. DISCLOSURES: Kilburg is long INTC and sold the spread above. All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
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Intel
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https://www.cnbc.com/2025/09/19/intel-gets-a-downgrade-from-citi-which-says-nvidia-partnership-impact-will-be-limited.html?&qsearchterm=Intel
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Intel gets a downgrade from Citi, which says Nvidia partnership impact will be limited
| 2025-09-19T00:00:00
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Citi isn't buying the hype around Intel after it announced its partnership with Nvidia , telling clients the former is likely to continue struggling. The bank downgraded Intel to sell from neutral. Although it raised its price target to $29 from $24, that figure still signals 5.1% downside. "We downgrade Intel … given our belief the stock is pricing in success in its leading-edge foundry business, which we believe has minimal chance to succeed," Citi analyst Christopher Danely said in the note. Intel said Thursday that Nvidia would invest $5 billion in the company, sending the stock up more than 22%. That marked Intel's best daily performance since Oct. 29, 1987, when it soared 26.4%. INTC 5D mountain INTC 5-day chart Under the agreement, Intel will integrate Nvidia's graphics into its central processing unit, in addition to building CPUs for its partner's artificial intelligence platforms. However, Intel's plan to integrate Nvidia's technology into its CPUs is unlikely to give it an edge over rival Advanced Micro Devices, which already offers processors with strong multicore performance at lower prices, Citi said. "We doubt this makes Intel CPUs more competitive as integrating another company's graphics wouldn't make a CPU more competitive given the processor is the main performance driver for a PC," Danely wrote. The bank also noted that Intel and Nvidia's AI collaboration is unlikely to generate big returns, given that the total addressable market for the offering is only valued at between $1 billion and $2 billion. Intel shares edged down 0.5% in premarket trading on Friday following the downgrade. Analysts are largely lukewarm on Intel. Thirty-nine of the 47 Wall Street shops that cover the stock have given it a hold rating, according to LSEG data.
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Intel
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https://www.cnbc.com/2025/09/18/nvidias-huang-calls-5-billion-intel-stake-an-incredible-investment.html?&qsearchterm=Intel
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Nvidia CEO Huang says $5 billion stake in rival Intel will be 'an incredible investment'
| 2025-09-18T00:00:00
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In this article INTC
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Nvidia CEO Jensen Huang attends the "Winning the AI Race" Summit in Washington D.C., U.S., July 23, 2025. Kent Nishimura | Reuters
Nvidia CEO Jensen Huang said that the company's $5 billion investment and technology collaboration with Intel comes after the two companies held discussions for nearly a year. Huang said that he communicated personally with Intel CEO Lip-Bu Tan about the partnership. He called Tan a "longtime friend" on a Thursday call with reporters after the companies announced that Nvidia would co-develop data center and PC chips with Intel as part of the investment deal. On the call, Tan said he and Huang have known each other for 30 years. "We thought it was going to be such an incredible investment," Huang said. Nvidia said it will collaborate with the chipmaker to create artificial intelligence systems for data centers that combine Intel's x86-based central processors with Nvidia's graphics processors and networking. Intel will also sell CPUs for PCs and notebooks that integrate Nvidia graphics processors, or GPUs. The transaction itself took a few months to come together, Intel's revenue chief Greg Ernst wrote in a LinkedIn post, adding that the agreement was reached on Saturday. The investment highlights how the fortunes of the two companies have switched atop Silicon Valley's pecking order as a result of the AI explosion ushered in by OpenAI's launch of ChatGPT in late 2022. Intel shares are down 31.78% in the last five years, while Nvidia shares are up 1,348% as of opening prices on Thursday. Nvidia is worth over $4.25 trillion, while Intel is only worth $143 billion.
How Intel and Nvidia will collaborate
For decades, the most important part in a PC or server was the central processor, and Intel dominated the market for those chips. But AI infrastructure, like the machines in the $4 billion data center Microsoft announced on Thursday, often needs two or more Nvidia GPUs for every one CPU. Nvidia AI systems, like the NVL72 used by Microsoft, come with Arm -based CPUs, instead of Intel x86-based CPUs. On the call, Huang said Nvidia will soon support Intel's CPUs in its NVLink racks for AI. "We'll buy those CPUs from from Intel, and then we'll connect it into super chips that then becomes our compute node, that then gets integrated into a rack scale AI supercomputer," Huang said. Nvidia will also contribute GPU technology to Intel chips that ship in laptops and PCs, which is an underserved market, Huang said. In total, the addressable markets for the two product collaborations are worth $50 billion, Huang said. "We're going to become a very large customer of Intel CPUs, and we're going to be a large supplier of GPU chiplets into Intel" chips, he said. Huang said the deal with Intel will have "no" impact on Nvidia's business relationship with Arm. Thursday's investment deal is focused on the relationship between Nvidia and Intel's product division, not its foundry. The two companies, however, did not rule out future foundry partnerships. "We've always evaluated Intel's foundry technology, and we're going to continue to do it, but today, this announcement, is squarely focused on these custom CPUs," Huang said. Nvidia currently uses Taiwan Semiconductor Manufacturing Company to manufacture its chips. The collaboration will use Intel's packaging, which is a part chip manufacturing that occurs toward the end of the process and combines several chip components into a single part that can be installed in machines.
Intel CEO Lip-Bu Tan makes a speech on stage in Taipei, Taiwan May 19, 2025. Ann Wang | Reuters
Tan said he was grateful for Nvidia's vote of confidence. "'I'd like to thank Jensen for the confidence in me, and our team and Intel will work really hard to make sure it's a good return for you," Tan said. Last year, Intel's board removed previous CEO Pat Gelsinger because of rising costs in its manufacturing business and the company's failure to gain a foothold in AI chips. In March, Intel named Tan, a well-connected investor who had turned around chip software firm Cadence Design Systems, its new chief executive. Tan has focused on cutting costs and raising money in his short tenure leading Intel even as the future of the company's manufacturing business, called Intel Foundry, remains unclear. In addition to the $5 billion from Nvidia and $8.9 billion from the U.S. government, Intel has taken a $2 billion investment from SoftBank, sold a majority stake in its ASIC subsidiary Altera to Silver Lake for $3.3 billion and sold $1 billion in stock from Mobileye, its self-driving car subsidiary. Intel has also cut significant staff, saying in July that it would eliminate 15% of its workforce by the end of the year. The company develops its own chips as well as manufacturing them. It wants to manufacture chips for companies like Nvidia or Apple , but has yet to secure them as customers. Analysts say Intel needs a big foundry client to signal that its technology is stable and ready for volume production. But cutting-edge chip manufacturing is expensive, and Intel has signaled that if it can't get enough customers, it may not continue investing in its foundry. That could spark a reaction from Washington, whose politicians and lobbyists consider Intel to be strategically important for the nation because it is the only American company capable of manufacturing the most advanced chips. The Trump administration took a 10% stake in Intel in August. Intel was previously in line to receive $8.9 billion in grants and loans from the CHIPS Act, but the Trump administration asked and received an equity stake in the chipmaker in exchange for the money. Huang was with Trump this week in England to attend a State Dinner at Windsor Palace and announce new projects and investments in the U.K. But the Trump administration wasn't involved in this deal, according to a White House official and Huang. "Intel's new partnership with Nvidia is a major milestone for American high-tech manufacturing," White House spokesman Kush Desai said in a statement. -- CNBC's Megan Cassella contributed to this story WATCH: Nvidia wants Intel's consumer business, says Deepwater's Gene Munster
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Intel
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https://www.cnbc.com/2025/09/25/thursday-stocks-to-watch-from-analysts-include-nvidia-apple-levis.html?&qsearchterm=Intel
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Here are Thursday's biggest analyst calls: Nvidia, Apple, Tesla, Alphabet, Levi's, CSX, Intel, Oracle & more
| 2025-09-25T00:00:00
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Here are the biggest calls on Wall Street on Thursday: Barclays reiterates Nvidia as overweight Barclays raises its price target to $240 per share from $200. "When tracking AI capacity additions over the [last twelve months], AI [total addressable markets] don't seem so outlandish anymore and NVDA looks like the most interesting name in our group." Read more. JPMorgan reiterates Netflix as neutral JPMorgan says Netflix shares are fairly valued right now. "NFLX shares are +35% YTD, outperforming the SPX at +13%, but since mid- May NFLX shares are +1%, underperforming the SPX's +11% move during that time. Easing tariffs & macro concerns have driven rotation from NFLX and other more defensive names, and flattish 1H25 engagement and increased competition w/YouTube have been in focus." Needham initiates Levi Strauss & Co. at buy Needham says the denim company is executing well. "We are initiating coverage of LEVI shares with a Buy rating and a 12-month price target of $28." Rothschild & Co Redburn initiates Oracle at sell The firm says it sees too many negative catalysts for Oracle. "While the market currently fixates on headline figures, we expect attention to shift toward the underlying economics. Combined with subdued non-IaaS [infrastructure as a service] growth— which the market appears willing to overlook for now—this sets up meaningful downside risk. Consequently, we launch coverage with a Sell rating and a $175 target price." Rosenblatt initiates Webull at buy Rosenblatt says the financial services platform is gaining market share. " Webull has clearly capitalized, quickly growing from a niche market data platform to the #2 mobile-first brokerage in the US. By leveraging data and proprietary technology to offer a superior product set for active retail traders, Webull's top-rated app and integrated desktop platform have become go-to solutions not just in the US but increasingly internationally as well." Bernstein upgrades Freeport McMoRan to outperform from market perform The firm says investors should buy the dip in the mining company following issues at its Indonesia plant. "Even so, we believe investors have overly punished FCX and the knock-on of copper macro has pushed [Antofagasta plc] above our target price." Seaport upgrades Intel to neutral from sell Seaport says it remains cautious over the long term but sees some near term positives. "We think Intel is on the wrong path with a shrinking window to save their fabs. That being said, in the near term, the stock is likely to be driven by follow-on investments and the potential for a stop-gap solution for the fabs." BMO upgrades United Natural Foods to outperform from market perform BMO says the food company is well positioned. "We believe UNFI is executing its network optimization strategy with better-than-expected customer retention which provides visibility and increases our confidence that UNFI can meet or exceed its HSD% EBITDA growth targets." Wells Fargo upgrades CSX to overweight from equal weight Wells raises its price target on the railroad to $40 per share from $37. "We are upgrading shares of CSX to Overweight from Equal Weight and raising our target to $40. Recent operational headwinds are clearing and new commercial agreements (and customer diversification efforts) will likely drive volume outperformance." Read more. Morgan Stanley upgrades Slide to overweight from equal weight Morgan Stanley say Slide , an insurance company, is cheap. "Limited weather-related catastrophes should support EPS growth, while the longer term growth and margin remain durable. As such, we believe the stock is cheap, and earnings will be strong. Upgrade to OW." Citigroup upgrades CME Group to buy from neutral Citi says it sees several positive catalysts ahead for the capital markets exchange company. "We are upgrading CME to Buy from Hold." Wells Fargo upgrades Adient to overweight from equal weight Wells says the auto seating company is in a turnaround. " ADNT's turnaround story has been delayed by weak global production, negative customer mix, the extension of unprofitable program & persistent cost inflation with core EBITDA stuck in the low 5% range from 2023-25E." Jefferies upgrades Ameresco to buy from hold Jefferies says the worst is behind the renewables company. "We upgrade AMRC to Buy as we concede that execution risks and IRA uncertainty are largely behind us." KeyBanc reiterates Apple as sector weight Key says its iPhone 17 survey checks show mixed demand. "We think AAPL stock is getting slightly ahead of what we think of as modestly better-than-anticipated iPhone demand. We are early cycle; we think most data points are positive, but with the stock's recent outperformance, we think it's hard to say it's justified by a material shift in expectations. MoffettNathanson reiterates Alphabet as buy The firm says Alphabet is emerging as an AI winner. "We reiterate our Buy rating on Alphabet and raise our target price by $65 to $295, based on a 24.4x multiple of our 2027E EPS estimate." Baird reiterates Tesla as outperform Baird says investors should buy the dip in Tesla shares. "We recently upgraded shares to Outperform (note here) and see a string of catalysts ahead beginning with the shareholder meeting on November 6."
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KKR
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https://www.cnbc.com/2025/10/01/kkr-adnoc-middle-east-investment-gas-pipeline-.html?&qsearchterm=KKR
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Private equity giant KKR expands Middle East footprint with ADNOC gas pipeline investment
| 2025-10-01T00:00:00
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The headquarters of the Abu Dhabi National Oil Co. (ADNOC), right, and Etihad Towers, center, surrounded by residential and commercial properties in Abu Dhabi, United Arab Emirates, on Sunday, April 10, 2022. It is not just about the oil production that countries need to pay attention to, but also investments in renewables, Alhmeri affirmed.
Global private-equity giant KKR has expanded its partnership with the Abu Dhabi National Oil Company, acquiring a minority stake in ADNOC Gas Pipeline Assets.
That ADNOC subsidiary operates 38 gas pipelines and two export terminals in the United Arab Emirates. KKR did not disclose the value of the deal to CNBC.
The partnership follows ADNOC's 2019 oil pipelines deal with KKR and BlackRock, which opened the door to foreign direct investment across the region.
"This investment reflects KKR's commitment to expand partnerships and investment across the Middle East," said David Petraeus, partner at KKR and chairman of the KKR Global Institute and KKR Middle East. "The region's strong fundamentals, bold vision, and focused leadership offer increasingly attractive opportunities for global investors."
Earlier this year, the firm appointed former CIA Director Petraeus, who joined KKR in 2013, as chair of its Middle East operations and launched a dedicated investment team led by Julian Barratt-Due.
The transaction marks another milestone in KKR's expansion in the region. It acquired a stake in Dubai-based Gulf Data Hub, with a combined commitment from the two firms of more than $5 billion to fund the expansion of GDH's data center network.
The ADNOC gas pipeline network, which links the company's upstream assets to domestic off-takers across the UAE, remains fully owned and operated by ADNOC. KKR has taken a minority stake, so ADNOC will retain control. KKR's stake — acquired through its managed accounts — is structured to yield long-term revenue, the company said.
The move expands KKR's over 16-year presence in the Middle East, with offices in the UAE and Saudi Arabia. The firm now manages more than $90 billion in infrastructure assets globally since launching its infrastructure strategy in 2008, according to information on its website.
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KKR
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https://www.cnbc.com/video/2025/10/01/kkr-expands-middle-east-footprint-with-adnoc-gas-pipeline-investment.html?&qsearchterm=KKR
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KKR expands Middle East footprint with ADNOC gas pipeline investment
| 2025-10-01T00:00:00
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KKR expands Middle East footprint with ADNOC gas pipeline investment
Global private-equity giant KKR has expanded its partnership with the Abu Dhabi National Oil Company, acquiring a minority stake in ADNOC Gas Pipeline Assets.
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KKR
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https://www.cnbc.com/video/2025/09/25/theres-a-productivity-boom-in-the-u-s-similar-to-the-1990s-says-kkrs-henry-mcvey.html?&qsearchterm=KKR
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There's a productivity boom in the U.S. similar to the 1990s, says KKR's Henry McVey
| 2025-09-25T00:00:00
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There's a productivity boom in the U.S. similar to the 1990s, says KKR's Henry McVey
Henry McVey, KKR CIO of balance sheet, joins 'Squawk Box' to discuss the state of the economy, the Fed's interest rate outlook, latest market trends, opportunities in the Asian markets, and more.
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KKR
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https://www.cnbc.com/video/2025/09/09/trade-tracker-stephanie-link-sells-kkr.html?&qsearchterm=KKR
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Trade Tracker: Stephanie Link sells KKR
| 2025-09-09T00:00:00
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Trade Tracker: Stephanie Link sells KKR
Stephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to detail her latest sale of KKR
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KKR
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https://www.cnbc.com/video/2025/09/08/final-trades-kkr-alphabet-tko-group-corning-and-the-ibit.html?&qsearchterm=KKR
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Final Trades: KKR, Alphabet, TKO Group, Corning and the IBIT
| 2025-09-08T00:00:00
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Final Trades: KKR, Alphabet, TKO Group, Corning and the IBIT
The Investment Committee give you their top stocks to watch for the second half.
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KKR
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https://www.cnbc.com/video/2025/08/28/final-trades-kkr-co-schlumberger-synchrony-financial-and-crowdstrike.html?&qsearchterm=KKR
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Final Trades: KKR & Co, Schlumberger, Synchrony Financial and CrowdStrike
| 2025-08-28T00:00:00
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Final Trades: KKR & Co, Schlumberger, Synchrony Financial and CrowdStrike
The Investment Committee give you their top stocks to watch for the second half.
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KKR
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https://www.cnbc.com/video/2025/08/12/calls-of-the-day-chipotle-starbucks-oklo-conocophillips-kkr-ulta-and-american-express.html?&qsearchterm=KKR
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Calls of the Day: Chipotle, Starbucks, Oklo, ConocoPhillips, KKR, Ulta and American Express
| 2025-08-12T00:00:00
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Calls of the Day: Chipotle, Starbucks, Oklo, ConocoPhillips, KKR, Ulta and American Express
The Investment Committee debate the latest Calls of the Day.
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KKR
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https://www.cnbc.com/2025/06/30/biggest-stocks-from-analyst-calls-monday-like-nvidia.html?&qsearchterm=KKR
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Here are Monday's biggest analyst calls: Nvidia, Tesla, Circle, Disney, Apple, Broadcom, Honeywell, KKR, Oracle & more
| 2025-06-30T00:00:00
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Here are Monday's biggest calls on Wall Street: Jefferies reiterates Broadcom as buy Jefferies raised its price target on the stock to $315 per share from $300. " AVGO is a leader in infrastructure semiconductors and software." MoffettNathanson reiterates Apple as sell Moffett said it's bracing for a difficult earnings report for Apple in late July. "It seems to us, though, that greater uncertainty ought to mean lower multiples. And given the asymmetry of the risks, we'd argue for lower estimates, as well. To date, the market has supplied little of either." Stifel upgrades Oracle to buy from hold Stifel said in its upgrade of Oracle that it sees cloud acceleration. "While Oracle continues to benefit from escalating Infrastructure demand, we remain more cautious due to FCF implications given the company's need for significant capital investment to sustain this growth." Read more. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia remains a top idea at the firm. "Our view is more constructive – NVIDIA i s our Top Pick in semis, as we think that both demand and supply are tracking ahead of the various Taiwanese anecdotes – but we do want to report accurately." Barclays initiates Circle as overweight Barclays said it's bullish on shares of the blockchain crypto company. "We are initiating coverage on Circle Internet Group (CRCL) with an OW rating and a PT of $215." Read more here. Piper Sandler initiates KKR as overweight Piper said the private equity company is a "balance sheet disruptor." "We are initiating coverage with an OW rating and $150 price target." Goldman Sachs initiates AeroVironment as buy Goldman said the defense contractor is best positioned. "We initiate AVAV at Buy as we see significant global demand for its products, driving scale." Goldman Sachs initiates as Kratos as buy Goldman upgraded the defense and security solutions company and said it's a drones beneficiary. "We assume coverage of KTOS from Noah Poponak and upgrade to Buy as we expect its established positions in drones and propulsion to drive a reacceleration in growth, driving margin and cash generation." Mizuho upgrades Consolidated Edison to outperform from neutral Mizuho said investors should buy the dip in the utility company. "We are upgrading ED to Outperform from Neutral as the recent selloff represents a compelling opportunity with shares trading at a 2% P/E discount for a quintessential premium utility." Cantor Fitzgerald initiates SailPoint Technologies as overweight Cantor said it's bullish on shares of the identity software access company. " SailPoint is best-of-breed in the Identity Governance and Administration (IGA) space and appears well-positioned for long-term growth following its February IPO." Jefferies upgrades Disney to buy from hold Jefferies said it sees a slew of positive catalysts ahead for Disney. "We upgrade DIS to Buy for 4 primary reasons: 1) Now see limited risk of a 2H25 Parks slowdown from Epic Universe/Macro. 2) More positive on FY26 Cruise upside, JEFe $1B+ rev uplift. 3) Continued DTC margin expansion." Read more. William Blair reiterates Tesla as outperform The firm said it's sticking with the stock but sees a "bumpy road ahead." "Our analysis reveals that Tesla's valuation is increasingly dependent on the robotaxi business. ... .We fundamentally believe in Tesla's long-term solution of neural nets and vision only, but acknowledge it opens up attack vectors for the inevitable hiccups to come. We are encouraging investors to use bumps along the road tactically." Deutsche Bank adds a catalyst call buy on Honeywell Deutsche said the stock is due for a re-rating. "We believe investor positioning on HON continues to skew quite negative, and have fielded little interest in our positive investment thesis on the stock. And yet we see a high probability of a 2Q beat (we sit 1% ahead of consensus) and material full-year guidance raise." Citi upgrades Linde to buy from neutral Citi said it's getting more constructive on shares of the chemicals company. "Despite the headwinds related to tariffs and broader macro uncertainties, we believe there are few things to get constructive on LIN's growth algorithm, specifically: 1) evidence of strong execution across price and productivity; 2) high quality project backlogs with focus on near-term opportunities and payback; and 3) likely winners from the eventual industrial recovery."
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KKR
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https://www.cnbc.com/video/2025/05/20/trade-tracker-stephanie-link-buys-kkr.html?&qsearchterm=KKR
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Trade Tracker: Stephanie Link buys KKR
| 2025-05-20T00:00:00
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In this video
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Trade Tracker: Stephanie Link buys KKR
Stephanie Link, CIO at Hightower, joins CNBC's "Halftime Report" to explain why she's getting into KKR.
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KKR
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https://www.cnbc.com/video/2025/05/08/v-for-volatility-part-ii-kkrs-latest-review-of-credit-capital-markets.html?&qsearchterm=KKR
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'V for Volatility: Part II?': KKR's latest review of credit & capital markets
| 2025-05-08T00:00:00
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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email
'V for Volatility: Part II?': KKR's latest review of credit & capital markets
Chris Sheldon, KKR partner and co-head of credit and markets, joins 'Squawk Box' to discuss the company's latest review of credit and capital markets, what to make of the recent market volatility, impact of policy uncertainty, role of the U.S. Treasury market, and more.
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Honeywell
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https://www.cnbc.com/2025/09/17/boeing-honeywell-sued-by-air-india-crash-victim-families.html?&qsearchterm=Honeywell
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Boeing, Honeywell sued by Air India crash victim families
| 2025-09-17T00:00:00
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Air India Boeing 787 Dreamliner aircraft with registration letters VT-ANB flies over Tokyo, Japan, April 27, 2025 in this picture obtained from social media.
The families of four passengers who died in the June crash of Air India Flight 171 sued Boeing and Honeywell , blaming their negligence and a faulty fuel cutoff switch for the accident, which killed 260 people.
Flight 171 crashed shortly after takeoff from Ahmedabad en route to London on June 12.
In a complaint filed on Tuesday in Delaware Superior Court, the plaintiffs said the locking mechanism for the switch on the Boeing 787-8 Dreamliner could be turned off inadvertently or missing, causing a loss of fuel supply and loss of thrust needed for takeoff.
They said Boeing and Honeywell, which respectively installed and manufactured the switch, knew about that risk, especially after the U.S. Federal Aviation Administration cautioned in 2018 about disengaged locking mechanisms on several Boeing aircraft.
By putting the switch directly behind thrust levers, "Boeing effectively guaranteed that normal cockpit activity could result in inadvertent fuel cutoff." the complaint said. "What did Honeywell and Boeing do to prevent the inevitable catastrophe? Nothing."
Boeing, based in Arlington, Virginia, declined to comment on Wednesday. Honeywell, based in Charlotte, North Carolina, did not immediately respond to requests for comment. Both companies are incorporated in Delaware.
The lawsuit appears to be the first in the United States over the crash.
It seeks unspecified damages for the deaths of Kantaben Dhirubhai Paghadal, Naavya Chirag Paghadal, Kuberbhai Patel and Babiben Patel, who were among the 229 passengers who died.
Twelve crew members and 19 people on the ground were also killed. One passenger survived. The plaintiffs are citizens of India or the United Kingdom, and live in one of those countries.
Indian, UK and American investigators have not conclusively determined the crash's cause. A preliminary report by India's Aircraft Accident Investigation Bureau in July depicted confusion in the cockpit before the crash. Also in July, Bryan Bedford, the administrator of the U.S. FAA, expressed a "high level of confidence" that a mechanical problem or inadvertent movement of fuel control components were not to blame. Boeing incurred more than $20 billion of legal and other costs from two fatal crashes of its 737 MAX aircraft in 2018 and 2019. The best-selling plane was grounded for 20 months.
The case is Paghadal et al v Boeing Co et al, Delaware Superior Court, No. N25C-09-145.
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Honeywell
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https://www.cnbc.com/2025/09/04/honeywells-quantinuum-inches-closer-to-a-pivotal-step-for-investors.html?&qsearchterm=Honeywell
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Honeywell's quantum computing firm inches closer to a pivotal step for investors
| 2025-09-04T00:00:00
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An under-the-radar part of Honeywell's sprawling portfolio is inching closer to getting its day in the sun. Honeywell announced Thursday that its quantum computing company, Quantinuum, has raised another $600 million in funding at an approximately $10 billion valuation. The latest round, which doubles Quantinuum's valuation of $ 5 billion last seen in January 2024 , sets the privately held firm up for a highly anticipated initial public offering — a key step in unlocking value for Club holding Honeywell as its majority shareholder. Honeywell CFO Mike Stepniak said so himself in reaction to the fresh capital raise during an industry event on Thursday morning. "I'm excited about commercializing this business and ultimately I think this really [gets us to an] IPO," Stepniak said at an industrials conferenced hosted by Jefferies. "Our intent is to IPO this business." In July, Honeywell CEO Vimal Kapur said that the company is looking to bring Quantinuum public in 2027. A successful IPO would help show that Honeywell's long-term investment into Quantinuum will have been worth it. Quantinuum was formed back in 2021 following a merger of Honeywell's Quantum Solutions with Cambridge Quantum. However, it has never been a source of significant revenue or profits for the industrial conglomerate given quantum computing technology is still in the early innings and a ways off from widespread commercial use. In 2024, Honeywell reported a loss of $454 million for the segment that houses its stake in Quantinuum. Still, there's a lot of potential value to unlock for Honeywell because of the promise that many see in quantum computing, which can solve complex tasks far beyond the abilities of traditional computers due to fundamentally different architectures. Technology stalwarts including Alphabet and IBM are among those pursuing the nascent technology — in fact, it was a breakthrough quantum chip from Alphabet's Google in late 2024 that catalyzed a new wave of interest in the industry and sent stocks of publicly traded quantum firms on a major tear. Club name Nvidia has shown an increased focus on quantum , and its venture capital arm participated in Quantinuum's capital raise. Other new investors include Quant Computer, QED investors, and existing shareholders like JPMorgan Chase , Mitsui, among others. Financial services is one industry that sees a lot of potential in quantum computing, and JPMorgan even as an internal research group that focuses on the technology. Honeywell benefits from Quantinuum by more than just capitalizing on this trend, though. The market seems to have not realized Quantinuum's value to the industrial conglomerate yet either, according to Bank of America's Andrew Obin. "What we've said is that the market doesn't seem to be assigning a particular value to their stake in Quantinuum, so risk/reward is definitely skewed to the upside," Obin told CNBC in an interview Thursday afternoon. Case in point: Shares of Honeywell were up only slightly on the Thursday announcement. Plus, Obin added that Quantinuum is just one of the ways "you can win with Honeywell stock." The Club believes another is the company's forthcoming business spin-offs, which we have long argued will unlock more value for shareholders as Honeywell becomes a more streamlined company and its crown jewel aerospace segment gets to operate on its own. Honeywell's advanced materials business is on track to be spun off in the fourth quarter of this year, while the aerospace separation is tracking for next year. (Jim Cramer's Charitable Trust is long 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/2025/08/22/leaders-laggards-after-powells-speech-plus-key-starbucks-honeywell-updates.html?&qsearchterm=Honeywell
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Leaders, laggards after Powell's speech — plus, key Starbucks, Honeywell updates
| 2025-08-22T00:00:00
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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 moves : Stocks were headed for a positive week, thanks to a big rally on Friday in reaction to Federal Reserve Chairman Jerome Powell 's speech at the annual Jackson Hole economic symposium. Heading into the address, the market was unsure if Powell was going to hint at a possible interest rate cut at next month's central bank policymaking meeting. So, the market jumped upon hearing Powell talk about growing downside risks in the labor market and how the "shifting balance of risks may warrant adjusting our policy stance." Powell's remarks lifted stocks and pushed bond yields lower as traders increased their bets around multiple rate cuts before year-end. The market's surge Friday is playing out like we discussed late Thursday, with the more dovish Fed unleashing rallies in cyclical, more economically sensitive stocks that stand to benefit the most from lower rates. Some of the biggest gainers in the portfolio Friday were Capital One , DuPont , and Home Depot . The laggards were defensive groups like consumer staples, utilities, and health care. Within the portfolio, Bristol Myers Squibb , Costco , and TJX Companies trailed the broader market. Bids coming : Starbucks expects to receive non-binding offers for a stake in its China business within the next two weeks, according to Reuters. Private equity firms Carlyle, EQT, Hillhouse Investment, and Primavera Capital were named in the story as interested partners. Bain Capital and Chinese tech giant Tencent were mentioned, too. It's another sign of progress in Starbucks CEO Brian Niccol's turnaround. Quantum note : We mentioned in Wednesday's Homestretch the reports around Honeywell and other investors seeking a funding round for the quantum unit Quantinuum at a $10 billion valuation. Analysts at Bank of America commented on the report Friday, saying they believe the quantum unit's valuation "suggests upside potential to undervalued Honeywell SOTP." SOTP is an abbreviation for sum-of-the-parts and is a way to value a company undergoing a breakup, like Honeywell. Next week: The stragglers of Big Tech report earnings, including quarterly results from Nvidia , CrowdStrike , Dell Technologies, Marvell Technology, and Snowflake. Retail earnings will continue with Best Buy, Gap, Dick's Sporting Goods, Five Below, and many others. On the economic data side, the key report for the week will be the July personal consumption expenditures (PCE) price index on Friday morning. (Jim Cramer's Charitable Trust is long COF, DD, HD, BMY, COST, TJX, HON, NVDA, CRWD. 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/2025/08/22/analyst-calls-on-friday-include-nvidia-ulta-beauty-and-roblox.html?&qsearchterm=Honeywell
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Here are Friday's biggest analyst calls: Nvidia, Apple, Microsoft, Ulta, Netflix, Broadcom, Roblox, Walmart, Honeywell and more
| 2025-08-22T00:00:00
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Here are Friday's biggest calls on Wall Street: Evercore ISI reiterates Nvidia as outperform Evercore ISI raised its price target to $214 per share from $190 ahead of the artificial intelligence chipmaker's earnings next week. "We are buyers of NVDA in front of its Jul-25Q earnings call scheduled for 27-Aug after the market close. We raise our estimates and price target." Wells Fargo initiates Dorman Products as overweight Wells Fargo said the auto parts aftermarket company is underappreciated and undervalued. "We see DORM as a high- quality/defensive operator, and believe its unique growth engine (innovation, etc.) offers a compelling way to play the attractive/non-discretionary automotive aftermarket." Barclays upgrades Ulta Beauty to overweight from equal weight Barclays says it likes the manner in which the company's new CEO is executing strategy. "We upgrade to Overweight from Equal Weight based on: 1) return to sustainable positive comps and margin expansion; 2) promotional improvement; 3) ULTA x Target exit optimizing retail distribution points." Read more. Loop upgrades Esab to buy from hold Loop says buy the dip in the welding solutions company. "We are upgrading shares of ESAB to 'Buy' and raising our target price to $140 per share (+$10). We believe the recent retrenchment in the shares is overblown and presents an opportunity." Barclays downgrades Gap to equal weight from overweight Barclays says it sees tariff pressures on the clothing retailer. "We are downgrading shares of GAP from Overweight to Equal Weight as we now believe that our previous blue-sky scenario for double-digit operating margins by FY26 is off the table — diminished by tariff margin pressure and macro uncertainty." Stifel initiates Netgear at buy Stifel says the computer networking company is a turnaround stock. "We believe Netgear is entering its second wave of transformation, positioning the company to deliver sustainable revenue growth and enhanced profitability through disciplined portfolio management across its business units." JPMorgan reiterates Microsoft as overweight JPMorgan says it is sticking with the Windows and Xbox parent. " MSFT (Azure accelerates another 4 pts to 39% growth, non-AI Enterprise remains strong, demand > supply)." Jefferies upgrades Miniso to buy from hold Jefferies says the China global retailer is well positioned for growth. "For Miniso overseas, sales growth driver will come from 1) 500+ new store opening[s] with store opening in the U.S. more concentrated e.g. it recently opened 3 stores in Austin. 2) Focus on festival period and 4Q high season." Bank of America reiterates Honeywell as buy Bank of America says the building control stock is undervalued. " HON's more defensive portfolio is well-suited to the current macro environment and the company is trading at a discounted valuation versus peers." Piper Sandler reiterates Broadcom as overweight Piper Sandler raised its price target on the semiconductor stock to $315 per share from $300. "We are bullish on the prospects for AVGO going into the coming October quarter around both the core semiconductor business and the infrastructure software segments." Evercore ISI reiterates Apple as outperform Evercore ISI says it likes Apple's price hikes on Apple TV+. "We think the Apple TV+ price increases could help modestly on services growth, but the real intent is to minimize churn. Services remain on track for double digit growth (provided Licensing relationship stays intact). Maintain OP and $250 price target." Bank of America reiterates Walmart as buy Bank of America says the nation's largest retailer has a "strong near- and long-term outlook" following its latest earnings. "We reiterate Buy as WMT' s strong value offering & digital convenience should continue driving share gains across incomes & product categories." JPMorgan initiates EHang at overweight JPMorgan says the China eVTOL company is well positioned. "Initiate coverage on EHang, China's leading eVTOL OEM, at OW with a Dec- 26 PT of US$26 (51% potential upside)." Read more. Barclays reiterates Netflix as equal weight The investment bank said it is sticking with an equal weight rating on Netflix , arguing that video streaming is near a saturation point. "Despite significant headline global household [total addressable market], streaming unit growth is likely to slow across the industry and penetration opportunities may not be evenly distributed." Wolfe upgrades Roblox to outperform from peer perform Wolfe says Roblox is "benefiting from platform flywheel effects — search & discovery improvements, faster content velocity, pricing optimizations." "We are upgrading RBLX to Outperform rating with a $150 PT and raising our FY'26 Bookings and EBITDA ests. by 7% and 13%, respectively, driven by incremental contributions from Regional Pricing + Advertising opportunities." Guggenheim downgrades Paramount Skydance to neutral from buy Guggenheim downgraded the media company, citing valuation. "We are lowering our rating on Paramount Skydance to NEUTRAL from BUY and removing our 12-month price target of $13 following a significant run in the stock."
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Honeywell
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https://www.cnbc.com/video/2025/08/05/honeywell-will-be-three-separate-companies-in-about-one-year-says-ceo.html?&qsearchterm=Honeywell
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Honeywell will be three separate companies in about one year, says CEO
| 2025-08-05T00:00:00
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Honeywell will be three separate companies in about one year, says CEO
CNBC’s Morgan Brennan sits down with Honeywell CEO and chairman Vimal Kapur to discuss his outlook for the global economy, the plan to separate the company into three standalone businesses, industrial AI and more.
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Honeywell
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https://www.cnbc.com/2025/07/24/honeywells-post-earnings-drop-was-disrespectful-heres-where-we-stand-on-the-stock.html?&qsearchterm=Honeywell
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Honeywell's post-earnings drop was disrespectful. Here's where we stand on the stock
| 2025-07-24T00:00:00
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An unwarranted post-earnings decline in Honeywell shares on Thursday presented a buying opportunity for new investors ahead of the conglomerate's breakup into three publicly traded companies. Revenue in the second quarter ended June 30 rose 8.1% year over year to $10.35 billion, topping expectations of $10.07 billion, according to market data service LSEG. Organic sales advanced 5% versus the year-ago period, more than double the 2.4% increase the Street was looking for, according to FactSet. Adjusted earnings per share (EPS) rose 10.4% from last year to $2.75, exceeding estimates of $2.66, LSEG data showed. Bottom line As Jeff Marks put it during Thursday's Morning Meeting, the 5% drop in Honeywell stock in the face of these results was nothing short of "disrespectful." Q2 was a strong showing from Honeywell as revenue, organic sales growth, and adjusted EPS not only outpaced Wall Street estimates but the company's expectations as well. Management also raised its full-year outlook for all three of these metrics. We're reiterating our buy-equivalent 1 rating and $255-per-share price target. HON YTD mountain Honeywell YTD It wasn't all perfect. Segment margin was disappointing both for the quarter and in the company's forward guidance. That was partly due to an increase in research and development (R & D) costs, including about $200 million in the aerospace division. While we don't like to see profit metrics miss the mark, we think it's more important that management continues to push ahead with growth investments. Committing to R & D, even ahead of Honeywell's aerospace, automation, and advanced materials split, will help foster post-separation success. Speaking of separation, we know Honeywell's advanced materials business will be spun off first. On the call, management updated the targeted timeframe for completion, narrowing it to the fourth quarter. The aerospace separation will be next, with the team continuing to target the back half of 2026. The remaining businesses will become a pure-play automation company. "We are not waiting for the separation to reshape our portfolio for future growth. We continue to selectively deploy capital towards acquisitions, announcing two new deals in the past couple of months," Honeywell CEO Vimal Kapur said, adding the team is also still looking at alternative options for businesses that don't fit into the company's future vision. Kapur will be a guest on "Mad Money with Jim Cramer" on Thursday evening. Quarterly commentary Second-quarter sales in Honeywell's aerospace technologies segment, the company's largest and most crucial unit, missed estimates but still grew 10.7% to $4.31 billion. On the call, management said aerospace was negatively impacted by destocking efforts at one of its original equipment manufacturing (OEM) customers. Destocking refers to when a customer is trying to sell excess inventory and slows or pauses orders from its supplier. The team believes that this issue will be a transitory headwind that should abate in the back half of the year. An aerospace margin decline of 175 basis points, or 1.75 percentage points, was mostly due to the ongoing CAES Systems integration. Management, however, expects margins to improve in the back half of 2025 and start to normalize next year. Management also highlighted that CAES has thus far been growing revenue at a high double-digit rate, which has been ahead of their expectations. Given the headwinds impacting the aerospace segment do indeed appear to be transitory, it's our view that anyone selling Honeywell shares on the miss is being shortsighted. Industrial automation sales dropped 5% to $2.38 billion, but still managed to outpace expectations. The segment saw growth in process solutions, as well as sensing and safety. However, weakness did continue in warehouse and workflow solutions, as well as productivity solutions. Earlier this month, the company said it was evaluating strategic alternatives for those two lagging businesses. Building automation sales and energy and sustainability solutions sales were both up year over year and beat expectations. Sales of advanced materials — the planned spinoff, which falls under the latter unit — were up year over year. Why we own it Honeywell is a provider of industrial technology to firms in various industries. The company's planned three-part breakup should be a value-creating event for shareholders. Competitors: Emerson Electric , RTX , 3M Weight in portfolio: 1.84% Most recent buy: March 5, 2025 Initiated: July 5, 2020 Guidance As for full-year guidance, as we mentioned above, management raised its outlook for sales, organic growth, and adjusted earnings per share. Operating and free cash flow projections were left unchanged. The segment margin outlook, however, was revised lower. Here's where Honeywell's full-year guidance now stands on some key metrics. Sales in a range of $40.8 billion to $41.3 billion (up from a prior range of $39.6 billion to $40.5 billion). That's a beat versus the $40.37 billion consensus estimate, according to LSEG Organic sales growth between 4% and 5% (up from a prior range of 2% to 5%), which is a beat versus the 3.7% organic growth expected, according to FactSet. Adjusted earnings per share between $10.45 and $10.65 per share (up from $10.20 to $10.50 previously). That's better than the $10.42 per share expected, according to LSEG. Segment margin between 23% and 23.2% (down from 23.2% to 23.5% previously), which is below the 23.4% rate the Street was looking for, according to FactSet. For the ongoing third quarter, Honeywell's guidance was ahead of expectations for sales, organic growth, and adjusted EPS. However, as with the full-year outlook, segment margin in the range of 22.7% to 23.1% was below the 23.6% consensus on FactSet. (Jim Cramer's Charitable Trust is long HON. 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/2025/07/08/honeywell-gives-shareholders-another-reason-to-like-the-stock-ahead-of-its-breakup.html?&qsearchterm=Honeywell
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Honeywell gives shareholders another reason to like the stock ahead of its breakup
| 2025-07-08T00:00:00
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Honeywell shares were on track for a record-high close Tuesday after the industrial conglomerate said it is re-evaluating what to do with two lagging businesses ahead of its planned three-way split. The news Honeywell announced Tuesday it is exploring strategic alternatives for its productivity solutions and services (PSS) unit and its warehouse and workflow solutions (WWS) segment. Getting rid of these businesses would streamline the company's automation portfolio. Automation will be one of the three publicly traded companies that result from Honeywell's upcoming breakup. Aerospace and advanced materials will be the other two. Both of these businesses — which serve the transportation and logistics industries — brought in roughly $2 billion in combined revenue in 2024. Jefferies estimates their combined value at $3.8 billion. Honeywell said that any transactions involving PSS and WWS, which are not guaranteed, would not change the separation timelines of the "end of 2025 or early 2026" for advanced materials and "second half of 2026" for aerospace. At session highs on Tuesday, Club stock Honeywell ticked above its July 3 record close of $240.40 per share following the strategic alternatives news. Honeywell also said Jim Masso, an industry veteran with 20 years of experience, was appointed as CEO of the Automation business, effective next week. HON YTD mountain Honeywell International (HON) year-to-date performance Big picture Honeywell's decision in February to break up follows several quarters of lackluster organic revenue growth and pressure from activist investor Elliott Investment Management. The hedge fund initiated a more than $5 billion position in November 2024. In its letter to Honeywell, Elliott said, "Operational issues have been more pronounced" in three of its business units, including the aforementioned productivity solutions and services unit and its warehouse and workflow solutions segment. Elliott also called out Honeywell's personal protective equipment (PPE) business, which was sold in May. Each of these units has declined at double-digit percentage rates since 2021, according to Elliott. Bottom line Over the past year, Honeywell has continued to reshape its portfolio in order to focus on higher-growth businesses. Tuesday's news is just another example of the kind of effort we love to see from management following many lackluster quarters. If Honeywell were to sell the struggling PSS and WWS units, the company could acquire other lucrative businesses. "Not only would the simplification be better for Honeywell, but they can use some cash proceeds to make some more accretive deals," said Jeff Marks, the Investing Club's director of portfolio analysis. Since June 2023, Honeywell said it has announced $14 billion of acquisitions, including Compressor Controls Corporation, the LNG business from Air Products , the Access Solutions security business from Carrier Global, pumps and gas compressors maker Sundyne, and several others. "They've been making a ton of those [deals] lately," Marks said during Tuesday's Morning Meeting. "It adds firepower there." Honeywell reports earnings on July 24 — and any updates on the future of PSS and WWS, as well as the overall three-way breakup of the company, would be welcome. Honeywell looks set up for a quarterly beat and guidance raise after management set expectations sensibly last time around, aiming to under-promise and over-deliver. We have a buy-equivalent 1 rating on Honeywell stock. (Jim Cramer's Charitable Trust is long HON. 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/2025/07/25/dover-and-honeywell-continue-their-post-earnings-slides-heres-how-we-may-respond.html?&qsearchterm=Honeywell
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Dover and Honeywell continue their post-earnings slides. Here's how we may respond
| 2025-07-25T00:00:00
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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 Friday's key moments. 1. The stock market is in the green Friday, capping off a week of fresh record highs for the S & P 500 on a positive note. The market's gains come on the heels of solid earnings and positive trade news developments. Investors will keep a close eye out for more trade news ahead of the Trump administration's Aug. 1 deadline for higher tariffs kicking in. President Donald Trump told reporters Friday morning that the U.S. has the "confines of a deal" with China ahead of next week's meeting between the two countries in Stockholm. Also on next week's agenda is a Federal Reserve rate decision Wednesday, though the central bank is expected to keep policy steady. However, the Fed may set themselves up to lower rates later this year. The July jobs report also comes out next Friday. 2. Both Dover and Honeywell are down again Friday despite reporting solid earnings Thursday. "We're frustrated by this," said Jeff Marks, director of portfolio analysis for the Club. Dover beat on both top and bottom line while raising its outlook on sales and adjusted earnings per share for the year. "We thought the stock should have been up four to five bucks yesterday, not down four to five," Marks said. It's a similar story for Honeywell, which also reported an overall decent quarter, though not perfect with transitory headwinds in aerospace. "I thought it'd get more credit. It didn't," said Marks. The Club likes how both companies have been progressing and might pull the trigger to buy more of Honeywell and, perhaps, additional shares of Dover on Monday. "We'll see," Marks said. 3. Looking ahead, investors are walking into a busy week for earnings, with around 150 S & P 500 companies set to report, including four of the "Magnificent Seven." Portfolio name Starbucks is first in line Tuesday evening. We're "focusing on what Brian Niccol has to say about the stores [where] he's been able implement some of his changes," Marks said. Microsoft and Meta report Wednesday after market close. Thursday is another big day with Bristol Myers reporting before the market open followed by Apple and Amazon on Thursday after closing bell. (Jim Cramer's Charitable Trust is long AAPL, AMZN, MSFT, SBUX, META. 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/2025/07/24/we-raised-our-guidance-and-have-high-confidence-to-deliver-says-honeywell-ceo-vimal-kapur.html?&qsearchterm=Honeywell
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We raised our guidance, and have high confidence to deliver, says Honeywell CEO Vimal Kapur
| 2025-07-24T00:00:00
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We raised our guidance, and have high confidence to deliver, says Honeywell CEO Vimal Kapur
Honeywell Chairman and CEO Vimal Kapur joins 'Mad Money' host Jim Cramer to talk quarterly results, growth in aerospace technology, acquisitions, and more.
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CrowdStrike
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https://www.cnbc.com/2025/09/18/crowdstrike-looks-out-10-years-at-its-investor-day-and-the-cybersecurity-stock-soared.html?&qsearchterm=CrowdStrike
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CrowdStrike looks out nearly a decade at its investor day, and the cybersecurity stock soars
| 2025-09-18T00:00:00
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CrowdStrike offered an ambitious roadmap that sent its stock surging more than 12.5% on Thursday. George Kurtz, co-founder and CEO of CrowdStrike, and other company executives presented a multiyear path to growth Wednesday evening during an investor briefing at the company's Fal.Con event, held this week in Las Vegas. (Falcon is CrowdStrike's cloud native platform.) Here are the highlights from the deck. CrowdStrike said it expects an expansion of its non-GAAP operating margin from a 21.1% to 21.6% range in fiscal year 2026 to 24% in fiscal 2027. That was in line with analysts' estimates. Free cash flow (FCF) margin is seen expanding from 27% in its fiscal 2026 fourth quarter to 30%-plus in fiscal year 2027. Estimates were for 30%. This forecast was mentioned on the company's fiscal 2026 second-quarter earnings call, which was held in late August . At that time, management also raised full-year fiscal 2026 guidance on earnings per share (EPS) but left revenue basically unchanged. CrowdStrike sees fiscal 2027 net new annual recurring revenue (ARR) growth of more than 20% year over year. That also matched the consensus. The company did say formal ARR guidance for fiscal 2027 would be provided alongside fiscal 2026 Q4 results. As of July 31, ARR was up 20% over last year to $4.66 billion. During Wednesday's presentation, management also provided visibility on certain financial metrics out 10 years. In fiscal 2029 , the company expects operating margin of 28% to 32% and FCF margin of 34% to 38%. Those would be nice increases from current levels. In fiscal 2036 , the company targets $20 billion in ending ARR, a 15% compound annual growth rate (CAGR) from the $10 billion ARR goal for fiscal 2031 . While that ARR forecast is a pretty big jump, long-term investors, like we are at the Club, really appreciate management's attempt to forecast the out years. The financial optimism comes as CrowdStrike bets on its emerging role in securing artificial intelligence agents — a fast-growing area that creates new vulnerabilities for enterprises. These autonomous AI tools can streamline workflows but also expand the points of attack for hackers. That's why the rise of AI agents is shaping up to be the next growth catalyst in the cybersecurity industry. To seize on that opportunity, CrowdStrike announced this week an acquisition of Pangea, a startup focused on securing AI agents in what management described as a play to capture a 100-times market opportunity. CrowdStrike sees its total addressable market expanding from $140 billion in calendar year 2026 to $300 billion in calendar year 2030. Jim Cramer has long said cybersecurity is a secular growth industry because data is the new gold, and hackers want their hands all over it. AI is making it easier to attack more often and efficiently with greater sophistication. As a result, the need for cybersecurity is only increasing. That puts CrowdStrike and fellow Club holding Palo Alto Networks in a position where their cyber solutions are a necessity to safeguard against bad actors. That's clear when we look at CrowdStrike's near-term and long-term guidance. This tells us our investment thesis on both stocks is alive and thriving. "This is an example of what you want to own," Jim said on CrowdStrike stock during Thursday's September Monthly Meeting, reiterating his confidence in Kurtz's ability to stay ahead of the curve in its fast-paced industry. That said, Jim acknowledged, "CrowdStrike is never going to be cheap," but suggested the high price-to-earnings multiple is warranted given the cybersecurity giant's standing as an industry leader with strong growth prospects. The Club continues to maintain our own buy-equivalent 1 rating on CrowdStrike and price target of $520. The stock has gained 47% year to date, trading at $502. Its record-high close of $514 was on July 3. (Jim Cramer's Charitable Trust is long CRWD, PANW. 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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CrowdStrike
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https://www.cnbc.com/2025/09/17/not-sure-how-important-cyber-stocks-are-in-the-ai-age-listen-to-this-story-from-crowdstrikes-ceo.html?&qsearchterm=CrowdStrike
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Not sure how important cyber stocks are in the AI age? Listen to this story from the CrowdStrike CEO
| 2025-09-17T00:00:00
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It's no secret that we're big believers in cybersecurity exposure for any long-term investment portfolio. In case there was any doubt, Jim Cramer's recent conversation with CrowdStrike CEO George Kurtz ought to be persuasive. On Tuesday night on " Mad Money ," Kurtz told Jim about North Korea's network of covert IT professionals leveraging generative artificial intelligence to quietly infiltrate companies. It's clear-cut evidence of how sophisticated cyber threats have become. Kurtz's comments drove home the importance of cybersecurity in the AI age — and our portfolio reflects that through our ownership of CrowdStrike and rival Palo Alto Networks . "AI is being used to create resumes, to create backgrounds, to create LinkedIn profiles, to make it look like a North Korean operative is a real person," Kurtz said. "Many times, the employer never even sees this person. They get hired. They get a computer, and that computer automatically goes to what's known as a laptop farm, and then North Korean operatives access that once it's on the network. And then, it's game over." "We found this leveraging some technology that we built over two years ago," Kurtz continued. "We work with our customers to refine this all the time. But this is what we're up against. AI is democratizing destruction. It's making it easier and faster for the adversaries to be able to get in and look legitimate, and create these sort of attacks." CrowdStrike highlighted some of its work in this area in its 2025 Threat Hunting Report . In addition, an in-depth CNN investigation published this summer also shone a light on North Korean IT workers using AI to breach companies. Kurtz said the innovative ways these attacks are carried out underscore why companies can no longer operate without comprehensive defenses in place. "You need AI to protect [against] AI, and that's what we're doing," Kurtz told Cramer. One of the big trends within the emerging field is the rise of so-called agentic AI systems. These systems are capable of making decisions and taking action with limited human oversight. Salesforce , another Club name, has made a big push into agents with its Agentforce platform. "The opportunity is 100x to protect AI agents," Kurtz said, adding that CrowdStrike is in the "perfect spot" to lead the market. Kurtz's comments come as the company was holding its annual Fal.Con event this week. During the conference's first day, CrowdStrike announced the acquisition of Pangea, a startup focused on securing AI agents. The company plans to integrate Pangea's technology into its Falcon cybersecurity platform. "Securing these autonomous agents is going to be the next wave of cybersecurity," Jeff Marks, the Club's director of portfolio analysis, said Wednesday during the Morning Meeting. The convergence of nation-state hacks and AI-enabled attacks makes it clear that companies cannot afford to cut back on their cybersecurity spending. That bodes particularly well for CrowdStrike, according to analysts at Wells Fargo. They really like what they've heard at Fal.Con. "CrowdStrike is by far the most advanced security platform in the industry, and the plethora of AI-based solutions announced today will further separate CrowdStrike from the competition," the firm wrote in a note dated Wednesday, reiterating its buy-equivalent overweight rating and price target of $550. CrowdStrike's Pangea announcement is part of its broader goal of building an autonomous security operations center that helps companies get smarter at monitoring, detecting, and analyzing security incidents using agents. "What George is working on is a comprehensive solution," Jim said Wednesday, adding that agentics hacking is getting "so ferocious." The Club continues to maintain our own buy-equivalent 1 rating on CrowdStrike and price target of $520. Likewise, we have a 1 rating on Palo Alto and a price target of $225. Even when Palo Alto shares got dinged this summer over concerns about its recent acquisition of CyberArk, we stayed positive. Palo Alto CEO also told CNBC last month about how AI helps the bad guys more than the good guys and what his company is doing to protect AI agents. (Jim Cramer's Charitable Trust is long CRWD, PANW. 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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CrowdStrike
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https://www.cnbc.com/2025/09/18/crowdstrike-investor-day-stock.html?&qsearchterm=CrowdStrike
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CrowdStrike pops nearly 13% on upbeat long-term guidance at investor day
| 2025-09-18T00:00:00
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CrowdStrike logo is seen in this illustration taken July 29, 2024.
CrowdStrike shares popped about 13%, a day after the cybersecurity firm issued better-than-expected long-term guidance at its investor day.
The company on Wednesday said it expects net new annual recurring revenues to grow at least 20% in 2027, ahead of analysts' expectations. CrowdStrike plans for ARR to hit $10 billion by 2031, and then double to $20 billion by 2036.
Earlier this week, the firm said it was buying AI security platform Pangea and announced a partnership with Salesforce.
"CrowdStrike is by far the most advanced security platform in the industry, and the plethora of AI-based solutions announced today will further separate CrowdStrike from the competition," wrote Wells Fargo analyst Andrew Nowinski in a note following the event.
Some Wall Street firms also boosted their price targets.
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CrowdStrike
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https://www.cnbc.com/video/2025/09/16/crowdstrike-ceo-george-kurtz-protecting-ai-agents-is-critical-were-in-the-perfect-spot-to-do-that.html?&qsearchterm=CrowdStrike
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CrowdStrike CEO George Kurtz: Protecting AI agents is critical, we're in the perfect spot to do that
| 2025-09-16T00:00:00
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CrowdStrike CEO George Kurtz: Protecting AI agents is critical, we're in the perfect spot to do that
CrowdStrike Co-Founder, President and CEO George Kurtz joins 'Mad Money' host Jim Cramer to talk the state of cybersecurity, how CrowdStrike is working hand-in-hand with AI adoption, and more.
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CrowdStrike
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https://www.cnbc.com/video/2025/09/19/calls-of-the-day-tesla-gold-and-crowdstrike.html?&qsearchterm=CrowdStrike
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Calls of the Day: Tesla, Gold, and CrowdStrike
| 2025-09-19T00:00:00
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In this video
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Calls of the Day: Tesla, Gold, and CrowdStrike
The Investment Committee debates the latest Calls of the Day.
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CrowdStrike
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https://www.cnbc.com/video/2025/09/18/final-trades-sofi-technologies-clearway-energy-spdr-sp-biotech-etf-and-crowdstrike.html?&qsearchterm=CrowdStrike
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Final Trades: SoFi Technologies, Clearway Energy, SPDR S&P Biotech ETF and CrowdStrike
| 2025-09-18T00:00:00
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In this video
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Final Trades: SoFi Technologies, Clearway Energy, SPDR S&P Biotech ETF and CrowdStrike
The Investment Committee’s top stock picks are in—here’s what they’re watching now.
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CrowdStrike
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https://www.cnbc.com/2025/08/27/were-upgrading-crowdstrike-despite-a-post-earnings-stock-drop.html?&qsearchterm=CrowdStrike
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We're upgrading CrowdStrike despite a post-earnings stock drop
| 2025-08-27T00:00:00
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CrowdStrike shares declined Wednesday evening despite the cybersecurity firm reporting a clean beat across every key metric. While management raised its earnings per share outlook for the full year, the lack of an upside revenue guide as well pressured the stock in after-hours trading. Revenue in the fiscal 2026 second quarter increased 21% year over year to $1.17 billion, beating the consensus estimate of $1.15 billion, according to LSEG. Adjusted earnings per share (EPS) increased 6% to 93 cents in the three months ending July 31, beating the 83-cent estimate, LSEG data showed. Why we own it Cybersecurity is a must-have for companies in the digital age. Led by co-founder and CEO George Kurtz, CrowdStrike is one of the best there is (along with fellow Club name Palo Alto Networks ). The company specializes in endpoint protection through its AI-native platform called Falcon. Competitors: Palo Alto Networks, Fortinet , SentinelOne , Microsoft Portfolio weighting: 2.8% Most recent buy: March 10, 2025 Initiation date: Oct. 16, 2024 Bottom line CrowdStrike put together a great quarter. In addition to revenue and adjusted EPS beats, the company posted record second-quarter net-new annual recurring revenue (ARR) of $221 million, which was approximately $19 million more than the consensus estimate. Net-new ARR growth was an acceleration that happened a quarter ahead of the expected schedule. Management expects growth to pick up even more during the back half of the company's fiscal year. In simple terms, net-new ARR is a way to show how fast a company's recurring revenue base is growing. It's a great way to measure the health of a subscription-based company, and CrowdStrike management believes ARR is the best leading indicator of the business. The only blemish to the quarter was the underwhelming revenue guide for the third quarter and full fiscal year. CrowdStrike trades at a premium multiple, so we're not shocked to see the stock get scrutinized in extended trading. Some of the miss may be due to conservatism, but what's really happening here is a deviation of about $10 million to $15 million per quarter tied to the company's customer commitment packages (CCP). CrowdStrike gave its customers some "freebies" to maintain high retention rates, reduce churn following the July 2024 global IT outage, but the program also resulted in significant adoption of its platform. CrowdStrike sees this $10 million to $15 million per quarter negative impact persisting through its fiscal 2026 fourth quarter before subsiding. CRWD 5Y mountain CrowdStrike 5 years Just over a year ago, CrowdStrike's botched software update caused problems for computers around the world. After an initial stock drop after the incident, the company worked really hard to keep its customers, with great success and a stock that climbed to an all-time high last month. Shares of cybersecurity companies have come off the boil in recent weeks due to Fortinet and Check Point getting hammered after reporting. Palo Alto, our other portfolio cyber stock, delivered a beat and raise last week. Those shares, which jumped on earnings, have been recovering from a terrible selloff around its $25 billion CyberArk announcement. CrowdStrike moved off its after-hours lows after management said the fiscal second quarter results increased their conviction in achieving at least 40% year-over-year net-new ARR growth for the back half of the fiscal year, which would bring its ending ARR growth to more than 22%. Revenue left more to be desired, but management's explanation of the lingering impacts from its CCP program, as well as its bullish outlook of the future, helped the stock recover some of its post-market losses. Still, shares have been volatile in after-hours trading. At one point, they traded as low as about $390, only to swing back above $400 as the earnings call progressed and eventually settled at nearly $405, or just over 4% lower from Wednesday's closing price. The move extends what's been a disappointing stretch this summer. After closing at a record high of $514 of July 3, CrowdStrike shares have dropped roughly 20% when factoring in the after-hours action. Given this fall from the highs and the after-hours drop on what we view as strong results, we are upgrading the stock to our buy-equivalent 1 rating. We kept our price target on the stock at $520. Commentary CrowdStrike's financial results were all better than expected. We mentioned the top and bottom line beat earlier, but the company also delivered total ARR growth of 20% year over year and record free cash flow for its fiscal second quarter. Behind the strong results was continued adoption of CrowdStrike's Falcon Platform through Falcon Flex. The industry is moving to this idea of a platform or a one-stop shop for all cybersecurity needs with the same company. Palo Alto is putting its effort behind a version of this, calling it platformization. CrowdStrike's Flex subscription model allows customers to consolidate their security solutions through a flexible licensing agreement. Total Flex customers now exceed 1,000 thanks to the 220 new customers added in the quarter. Those are leading to some decently sized deals with the average Flex customer representing more than $1 million of ending ARR. The Falcon Flex model allows customers to achieve a low total cost of ownership while optimizing security by letting them swap one security module for another as needed. Not only are more customers signing up to the Flex model, they are also "re-flexing" or re-upping to more security modules and consolation at a high rate, providing management with conviction in their net-new ARR outlook. On artificial intelligence, companies and organizations of all sizes will depend on CrowdStrike's best-in-class solutions even more. Bad actors are growing more sophisticated by the day, and advances in AI are introducing new threats that enterprises must defend against. "Model creation and AI development happen in the cloud and in the data center. AI adoption happens at the endpoint on the computing device itself. And AI access happens by users with human and increasingly non-human machine identities. CrowdStrike secures each of these attack surfaces," CEO and founder George Kurtz explained on the earnings call. CrowdStrike also announced this evening the acquisition of a company called Onum, which it believes will improve its next-gen SIEM capabilities. SIEM stands for security information and event management. Guidance For full-year fiscal 2026, CrowdStrike management left its revenue outlook essentially unchanged, nudging up the low end by $5 million. It now sees full-year revenue in the range of roughly $4.75 billion to $4.81 billion. However, the company raised its adjusted EPS outlook to a range of $3.60 to $3.72 from its prior outlook of $3.44 to $3.56. The new outlook is above the consensus of $3.52. For its 2026 fiscal third quarter, the current quarter going on right now, CrowdStrike's revenue guidance at the midpoint was $1.213 billion, a bit below the $1.228 billion consensus. But adjusted earnings per share are expected to be 93 cents to 95 cents, which is a beat versus the consensus of 91 cents. (Jim Cramer's Charitable Trust is long CRWD, PANW. 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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CrowdStrike
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https://www.cnbc.com/video/2025/08/28/our-tech-is-sticky-theres-a-95percent-chance-customers-will-renew-says-crowdstrike-ceo-george-kurtz.html?&qsearchterm=CrowdStrike
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Our tech is sticky, there's a 95% chance customers will renew, says CrowdStrike CEO George Kurtz
| 2025-08-28T00:00:00
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Our tech is sticky, there's a 95% chance customers will renew, says CrowdStrike CEO George Kurtz
CrowdStrike Founder and CEO George Kurtz joins 'Mad Money' host Jim Cramer to talk quarterly results, customer retention, the state of the cybersecurity and more.
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