Stock Market Midday, Sept. 18: Stocks Slip, Crypto Gains
As of 11:44 AM ET, the S&P 500 (SNPINDEX:^GSPC) is down 0.19% to 7,623, the Nasdaq Composite (NASDAQINDEX:^IXIC) has slipped 0.13% to 26,384, and the Dow Jones Industrial Average (DJINDICES:^DJI) is trading 0.42% lower at 51,561 as indexes retreated.
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Read MoreWarren Buffett abruptly steps down as Berkshire chair as ‘Father Time’ wins, handing role to son Howard who will ‘guard its culture and values’
Investing legend Warren Buffett further pared back his role at Berkshire Hathaway, announcing Friday that he has stepped down as the conglomerate’s chairman.
In a letter to shareholders, he suggested his age, 96, weighed on his decision, saying that one of his great grandchildren just turned 1,
Nvidia stock is at he top of the laggards, says MAI Capital’s Chris Grisanti
Chris Grisanti, MAI Capital chief market strategist,
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Read MoreMove Over, Tesla: This Robotics Stock Already Has Paying Customers
Tesla (NASDAQ: TSLA) hasn’t released its Optimus humanoid robot commercially, but the hype surrounding it remains high. In fact, recent news about supplier audits in China suggests that a massive ramp-up in Optimus production could begin later this year.
While Tesla’s Optimus catalyst gets closer, consider that there’s already a company in the robotics field generating material revenue from customers.
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Read MoreThe Burst
How Zuckerberg Can Seize The Next Trillion
CEO Mark Zuckerberg doesn’t get as much credit as he may deserve for his ferocity and tenaciousness. As the head of Meta, he is widely viewed as the dorky tech guy who stumbled upon a great idea and just happened to build a big social media business.
The truth is he’s a harsh competitor,
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Read MoreThe Ivy
75 Billion Reasons To Own Google
Alphabet (Google’s parent) has significantly ramped up research and development spending in recent years. In 2022, Google spent about $39.5 billion on R&D, which jumped to $45.4 billion in 2023. This ~15% increase was driven largely by higher personnel costs (adding thousands of engineers) and one-time charges like office space consolidation.
R&D now represents roughly 15% of Google’s annual revenue,
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Read MoreThe Spotlight
Insights: 1 Sporting Stock Billionaire Bet $500 Million On
When Stephen Mandel makes a big bet, it’s worth finding out why. He’s the President and portfolio manager at Lone Pine Capital, a $10 billion fund based in Greenwich, Connecticut.
As we analyzed his portfolio, it became clear why he’s running a billion dollar fund – just about every stock in his portfolio is undervalued on a discounted cash flow forecast basis.
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