Elon Musk says Tesla robotaxis will hit the market next year

Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020. “I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.” Musk also predicted that in two years, Tesla will be making cars with no steering


Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020. “I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.” Musk also predicted that in two years, Tesla will be making cars with no steering
Elon Musk says Tesla robotaxis will hit the market next year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lora kolodny, robyn beck, pool
Keywords: news, cnbc, companies, hit, market, robotaxis, cars, chips, selfdriving, tops, tesla, musk, elon, drivers, autopilot, teslas


Elon Musk says Tesla robotaxis will hit the market next year

Tesla CEO Elon Musk said that the company should have robotaxis on the roads in 2020.

“I feel very confident predicting autonomous robotaxis for Tesla next year,” Musk said on stage at the Tesla Autonomy Investor Day in Palo Alto, California. They won’t be “in all jurisdictions, because we won’t have regulatory approval everywhere, but I am confident we will have at least regulatory approval somewhere, literally next year,” he said.

Musk based his optimism on the amount of data his company is able to gather from Tesla vehicles already on the road today, which it then uses to improve its software.

All Tesla cars being produced today have the hardware on board that’s required for full self-driving, Musk said, promising that, “all you need to do is improve the software.”

Musk also predicted that in two years, Tesla will be making cars with no steering wheels or pedals.

While the CEO repeated that Tesla will have over 1 million robotaxis on the road next year, and he expects to be “operating robotaxis next year with no one in them,” he did also warn investors, “Sometimes I am not on time, but I get it done.”

In the past, Elon Musk’s forecasts for Tesla have missed the mark. Tesla was two years late with the launch of the Model X, its first all-electric SUV. And it was two years late in delivering semi-autonomous features to eager drivers. When Tesla began to discuss its ambitions in self-driving technology in 2016, Musk said they would conduct a hands-free trip across the US by late 2017. They have yet to complete that mission.

Musk and a Tesla Director, Pete Bannon, who is a former Apple exec, showed off Tesla’s latest chips emphasizing how they were designed to process massive amounts of data quickly, without significantly heating up, or draining the vehicles’ batteries.

Bannon claimed the chips can potentially perform 7 times better than a competing product from Nvidia, in reference to its Xavier chips.

Nvidia said in a statement that Tesla misstated details about its Xavier chips, which offer 30 TOPS, a measure of processing power (not 21 TOPS as Tesla claimed). Nvidia also said Tesla’s full self-driving computers compare directly to its Drive AGX Pegasus. Tesla’s new tech can provide 144 TOPS of processing power, and the Pegasus provides 320 TOPS, Nvidia said.

New chips already in development at Tesla are likely to arrive in two years, Musk and Bannon said. The company is currently manufacturing its chips with Samsung in Austin, Texas they revealed.

Currently, Tesla offers Autopilot — an advanced driver assistance system — as a standard feature in its cars. According to the company’s website, Autopilot can automatically hold a car in its lane and accelerate or brake automatically, for example, in response to pedestrians or other cars in its way. Tesla can improve Autopilot with new features (or bug fixes) over time via over-the-air updates, as well.

In addition, Tesla sells a “Full Self-Driving,” or FSD, package for its vehicles for $5,000 or more if the software is installed after the vehicle is initially purchased.

FSD features today include “Summon,” which lets a driver call their Tesla to roll out from a parking spot to where they are standing (with no driver on board). And FSD lets drivers “Navigate on Autopilot,” automatically driving their car from a highway on-ramp to an off-ramp, making necessary lane changes along the way.

Later this year, Tesla’s website says, cars with FSD should be able to read and respond properly to traffic lights and stop signs, and drive automatically on city streets.

Even with FSD, Tesla’s cars are not considered “driverless,” meaning that they don’t meet the SAE Level 4 standard used to denote a car that could handle every aspect of driving in some conditions without any human intervention.

Tesla also cautions its drivers, “Current Autopilot features require active driver supervision and do not make the vehicle autonomous.” In other words, while tempting, drivers aren’t supposed to zone out, or drive hands-free even if they have Full Self-Driving.

Tesla and Musk have previously claimed that their cars are 40% safer than others when drivers have Autopilot engaged. A NHTSA study Tesla cited to support that claim has been debunked by independent researchers, Quality Control Systems. NHTSA has said it is reviewing QCS’ findings.

There have been at least three fatal accidents in the US involving Tesla drivers with Autopilot engaged dating back to the death of Joshua Brown in Florida in 2106.

Tesla shares barely budged during the “Autonomy Day” event, and ended down about 4% for the day.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lora kolodny, robyn beck, pool
Keywords: news, cnbc, companies, hit, market, robotaxis, cars, chips, selfdriving, tops, tesla, musk, elon, drivers, autopilot, teslas


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Oil surges as US ends Iran sanction waivers—four experts forecast what’s next

Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent. So I think that’s one potential silver lining of higher oil. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, wa


Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent. So I think that’s one potential silver lining of higher oil. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, wa
Oil surges as US ends Iran sanction waivers—four experts forecast what’s next Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus, eddie seal, bloomberg, getty images, johannes eisele, afp, anna moneymaker, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, price, experts, market, forecast, thats, sanction, think, prices, whats, higher, energy, surges, oil, going, ends, iran, crude, waiversfour


Oil surges as US ends Iran sanction waivers—four experts forecast what's next

Things are heating up in the energy market.

The Trump administration announced Monday that it would end exemptions to its sanctions on Iran, a move meant to significantly curb Iran’s oil output. Crude prices surged after the announcement, with the U.S. benchmark, West Texas Intermediate crude, gaining nearly 3 percent.

Here’s what experts say higher oil prices could mean for the broader market:

Savita Subramanian, head of U.S. equity and quantitative strategy at Bank of America Merrill Lynch, said a significant uptick in the price of crude would likely be a double-edged sword:

“[Higher] oil is actually good for corporate profits because the S&P [500] is levered to oil, so I think this could be a source of positive earnings surprise[s] for the year where analysts are penciling in super low expectations. So I think that’s one potential silver lining of higher oil. And then … consumers are making more money, so we might not feel that energy pinch until we get to higher levels. But $5 a gallon in California is not a good environment to be in, so we’re getting to a point where this could turn ugly.”

Aperture Investors CEO Peter Kraus didn’t anticipate major changes to the status quo:

“I think the oil prices are going to continue to reflect this sort of restriction in supply. And we’re not going to see a lot of new drilling based on these prices. We’re not going to see more holes being punched into the world to create more oil at these current prices. And so my guess is that economic activity stays where it is [and] oil prices will remain relatively constant. […] People predicted oil was going to go to $100, $120 a barrel, which I don’t see happening.”

Alex Dryden, global market strategist at J.P. Morgan, said macroeconomic global risks could catch up to the oil market itself:

“I think what you’re looking at is incoming restrictions on supply. That’s going to couple with what we’ve been seeing in Venezuela, this likely forcing the oil price up [like] we’ve seen this morning. Now, again, it’s about how sustainable that oil price is. You look at … the futures market. Go three years out — you typically go out that far when you want to take out political risk and look at how much geopolitical risk premium [is] priced into oil. Right now, it’s some of the highest levels since the Arab Spring. That’s not exactly a great backdrop for energy companies to really be able to continue to put that oil number in in a reliable way going forward. So, certainly some question marks over it.”

RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, was fairly bullish on the prospect of higher oil prices for the broader market:


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: lizzy gurdus, eddie seal, bloomberg, getty images, johannes eisele, afp, anna moneymaker, kcna, thomas barwick getty images, source
Keywords: news, cnbc, companies, price, experts, market, forecast, thats, sanction, think, prices, whats, higher, energy, surges, oil, going, ends, iran, crude, waiversfour


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump aims to drive Iran’s oil exports to zero by ending sanctions waivers

He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond


He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive. The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand. The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Mond
Trump aims to drive Iran’s oil exports to zero by ending sanctions waivers Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


Trump aims to drive Iran's oil exports to zero by ending sanctions waivers

Saudi Arabia and UAE have assured the U.S. they will ensure the market has an “appropriate supply,” Pompeo said. He said the suppliers have been working directly with Iran’s customers to make the transition away from Iranian barrels less disruptive.

The Saudis stopped short of explicitly guaranteeing a change in policy but reiterated its commitment to balancing oil supply and demand.

The kingdom will “coordinate with fellow oil producers to ensure adequate supplies are available to consumers while ensuring the global oil market does not go out of balance,” Saudi Energy Minister Khalid al-Falih said on Monday.

“In the next few weeks, the Kingdom will be consulting closely with other producing countries and key oil consuming nations to ensure a well-balanced and stable oil market, for the benefits of producers and consumers as well as the stability of the world economy,” Falih said in a statement.

Following Washington’s official announcement, Trump tweeted that Saudi Arabia and other OPEC members will “more than make up” for any drop in Iranian supplies.

Three of the countries that received the exemptions — Greece, Italy and Taiwan — have already cut their imports from Iran to zero. However, analysts widely expected the Trump administration to extend the waivers to China, India, Japan, South Korea and Turkey, all of which took advantage of the waivers during the first six-month window that began in November.

Companies in those countries now face the threat of being locked out of the U.S. financial system if they continue to import crude from Iran. The question is whether some of those countries will seek to skirt the sanctions, including by facilitating or encouraging purchases of Iranian crude through companies not tied to the U.S. financial system.

China’s Foreign Ministry on Monday denounced Washington’s Iran policy.

“China opposes the unilateral sanctions and so-called ‘long-arm jurisdictions’ imposed by the US. Our cooperation with Iran is open, transparent, lawful and legitimate, thus it should be respected,” Foreign Ministry spokesperson Geng Shuang told reporters.

“Our government is committed to upholding the legitimate rights and interests of Chinese companies and will play a positive and constructive role in upholding the stability of global energy market.”

Turkish Minister of Foreign Affairs Mevlut Cavusoglu also rejected the sanctions, saying they “will not serve regional peace and stability” and would hurt the Iranian people.

Dialing up pressure on Iran threatens to spark maritime conflict in the Persian Gulf. Iran has long threatened to shut down the Strait of Hormuz, the world’s busiest transit lane for seaborne oil shipments, if it is prevented from exporting oil.

On Monday, Iranian officials renewed those threats.

“According to international law, the Strait of Hormuz is a marine passageway and if we are barred from using it, we will shut it down. In case of any threat, we will have not even an iota of doubt to protect and defend the Iranian waters,” Rear Admiral Alireza Tangsiri, commander of the Islamic Revolution Guards Corps’ Navy, told the al-Alam news channel, according to Iran’s semi-official Fars news agency.

Earlier this month, the Trump administration designated Iran’s Islamic Revolutionary Guard Corps a terrorist organization, marking the first time the U.S. has applied the designation to a foreign country’s military.


Company: cnbc, Activity: cnbc, Date: 2019-04-22  Authors: tom dichristopher, mary catherine wellons
Keywords: news, cnbc, companies, exports, ending, trump, market, zero, stability, saudi, countries, sanctions, drive, waivers, oil, foreign, iran, aims, irans, iranian


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Earnings and data could be proof that slowdown fears were overblown

The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings


The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings
Earnings and data could be proof that slowdown fears were overblown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


Earnings and data could be proof that slowdown fears were overblown

Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut.

Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies reporting so far have beaten expectations. Based on forecasts and actual reports, earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years. Some forecasters had projected an earnings decline of 4% or more.

The equivalent of the economy’s first-quarter report card will be released Friday, with the first reading of GDP. The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. CNBC/Moody’s Analytics Rapid Update survey shows economists’ median forecast is now tracking at 2.4%, way above the 1% expected earlier in the quarter, when severe winter weather and the government shutdown were stifling the economy.

At the same time, investors are feeling better about global growth and far less fearful of a recession in the near term. One reason is that China’s data has also been picking up. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists.

“I think a lot of this is leveraged on economic activity. I think investors have kind of gotten past this notion of global downturn. The China number was pretty good earlier in the week. I do think next week is going to be important for earnings. We’re going to get a great cross section of industries,” said Jack Ablin, CIO at Cresset Wealth Advisors. On Wednesday, China’s first quarter GDP

U.S. trade talks with China could be also important in the week ahead, with negotiations continuing and investors awaiting news of a summit between President Donald Trump and China President Xi Jinping.

Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings and the economy, even though data appears to be improving.

“I think it’s a function of expectations were probably dropping too quickly, and I think recent data is telling you that growth isn’t collapsing but it’s slowing,” he said. “I think that’s very important. That’s probably going to be the most important dynamic. That’s probably going to continue.”

That could make for a choppier market at some point, he said. Suzuki said he could see stocks ending the year higher than current levels but he expects to see the market pull back first.

The market shrugged off Thursday’s release of special counsel Robert Mueller’s report on the Trump campaign and Russian election interference.

“This type of thing firmly falls into the category of it can move the needle for the market on a daily or weekly performance basis, but it’s not going to be a longer term story for the market,” Suzuki said. Analysts have said the economy’s performance is more important for Trump’s reelection than the report at this point.

What to Watch

Monday

Earnings: Halliburton, Kimberly-Clark, Whirlpool, Celanese, Allison Transmission, Range Resources, WW Grainger, Zions Bancorp, Cadence Designs

10:00 a.m. Existing home sales

Tuesday

Earnings: Coca-Cola, Lockheed Martin, Procter and Gamble, Verizon, Twitter, NextEra Energy, Northern Trust, Teradyne, Carlisle Cos, United Technologies, Fifth Third, JetBlue, Harley Davidson, PulteGroup, State Street, eBay, Six Flags, Stryker, Snap, Texas Instruments, Canadian Pacific Railway, Kaiser aluminum

9:00 a.m. FHFA home prices

9:45 a.m. Manufacturing PMI 9:45 a.m. Services PMI 10:00 a.m. New home sales

Wednesday

Earnings: AT&T, Caterpillar, Boeing, Facebook, Microsoft, Visa, Tesla, PayPal, General Dynamics, Northrop Grumman, Chipotle Mexican Grill, F5 Networks, Boston Beer, Churchill Downs, Netgear, Sirius XM, Moody’s, T.Rowe Price, Spirit Airlines, Graco, Biogen, Domino’s Pizza, Nasdaq OMX, Anthem, Boston Scientific

Thursday

Earnings: Amazon, 3M, Comcast, Bristol-Myers Squibb, Freeport-McMoRan, Hershey, Alexion Pharma, Altria, Barclays, UBS, Starbucks, Intel, Ford, Discover Financial, Eastman Chemical, Alaska Air, American Electric, Illinois Tool Works, Nintendo, UPS, DR Horton, Capitol One, Valero Energy, Southwest Air, Nokia, Tractor Supply, Brunswick

8:30 a.m. Initial claims

8:30 a.m. Durable goods 10:00 a.m. Housing vacancies

Friday

Earnings: Exxon Mobil, Chevron; Archer Daniels Midland, AstraZeneca, Colgate-Palmolive, Daimler, Cabot Oil and Gas, AutoNation, Autoliv, Bloomin’ Brands, Deutsche Bank, Sanofi, Sony,

8:30 a .m. Real GDP (Q1 advance)

8:30 a.m. Advance economic indicators

10:00 a.m. Consumer sentiment


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China

Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China. Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China. Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval fro


Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China. Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China. Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval fro
Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: arjun kharpal, drew angerer, getty images
Keywords: news, cnbc, companies, tieup, nintendo, approval, 14, console, need, surge, switch, shares, china, market, process, gaming, sell, tencent


Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China

Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China.

At one point, shares were posting a gain of more than 16%, but they were trading at around 14% higher by the end of the day in Tokyo.

Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China.

Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018.

Investors have been asking for a long time when Nintendo will enter the world’s largest gaming market and the tie-up with Tencent will be a welcome step, according to Daniel Ahmad, an analyst at Niko Partners. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval from more regulators in the country.

“This is still very early in the process. Therefore, we expect there to be some time before the console releases in China,” Ahmad said in a note on Thursday.

“Nintendo and Tencent will also need to submit each game for approval in China and ensure the games comply with content regulations. This too is a lengthy process and means that it will take some time before Nintendo can build up a large library of official games in China,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: arjun kharpal, drew angerer, getty images
Keywords: news, cnbc, companies, tieup, nintendo, approval, 14, console, need, surge, switch, shares, china, market, process, gaming, sell, tencent


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China

Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China. Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China. Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval fro


Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China. Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China. Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval fro
Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: arjun kharpal, drew angerer, getty images
Keywords: news, cnbc, companies, sell, shares, approval, tencent, market, surge, need, nintendo, 14, process, switch, gaming, tieup, china, console


Nintendo shares surge more than 14% after tie-up with Tencent to sell Switch console in China

Nintendo shares surged on Friday after Tencent won approval to start selling the Japanese gaming giant’s Switch console in China.

At one point, shares were posting a gain of more than 16%, but they were trading at around 14% higher by the end of the day in Tokyo.

Regulators in the southern Chinese province of Guangdong approved the Nintendo Switch and the game “New Super Mario Bros. U Deluxe” to be released in China.

Nintendo shares responded by hitting their highest level since an intra-day high on October 18, 2018.

Investors have been asking for a long time when Nintendo will enter the world’s largest gaming market and the tie-up with Tencent will be a welcome step, according to Daniel Ahmad, an analyst at Niko Partners. But, he warned, the market should not get too excited because Nintendo and Tencent will still need approval from more regulators in the country.

“This is still very early in the process. Therefore, we expect there to be some time before the console releases in China,” Ahmad said in a note on Thursday.

“Nintendo and Tencent will also need to submit each game for approval in China and ensure the games comply with content regulations. This too is a lengthy process and means that it will take some time before Nintendo can build up a large library of official games in China,” he added.


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: arjun kharpal, drew angerer, getty images
Keywords: news, cnbc, companies, sell, shares, approval, tencent, market, surge, need, nintendo, 14, process, switch, gaming, tieup, china, console


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Zoom CEO Eric Yuan worth $3 billion after IPO

Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team. Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,


Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team. Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,
Zoom CEO Eric Yuan worth $3 billion after IPO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: ari levy, kena betancur, getty images, source, -santi subotovsky, partner at emergence capital, zoom investor
Keywords: news, cnbc, companies, software, eric, stock, ipo, free, market, worth, zooms, yuan, zoom, ceo, billion, company, videoconferencing


Zoom CEO Eric Yuan worth $3 billion after IPO

Not even Eric Yuan’s closest friends, oldest advisers and earliest investors thought Zoom needed to exist. It was 2011, and the market was littered with videoconferencing systems from Google, Skype, GoToMeeting and Cisco, where Yuan had been leading WebEx’s engineering team.

“He came to a market that everybody said was done,” said Dan Scheinman, Cisco’s former head of corporate development who’s now an angel investor and Zoom board member. “He was competing with free and some pretty big incumbents.”

Yuan, who emigrated from China to Silicon Valley in 1997 at age 27, says the problem with those products is that nobody enjoys using them, adding that the buggy code he wrote for WebEx two decades ago is still running today. As a software engineer with multiple patents related to real-time collaboration, he also knew that our smartphones and tablets could do so much more with videoconferencing than what was available.

So Yuan ignored the skeptics and instead listened to users. His wager is paying off.

Following Zoom’s stock market debut on Thursday, the company is valued at $15.9 billion. The stock climbed 72% in its first day of trading to $62, after the company raised $356.8 million in its IPO.

Zoom’s rich valuation — about 48 times sales — is a reflection of 118% revenue growth in 2018 coupled with an unusual quality for an emerging software company: profit. Thousands of businesses use Zoom’s software, with many taking advantage of the free product alongside 344 companies that pay over $100,000 a year.

Yuan, who owns 20% of the shares, is tech’s newest billionaire, with a stake worth about $2.9 billion.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: ari levy, kena betancur, getty images, source, -santi subotovsky, partner at emergence capital, zoom investor
Keywords: news, cnbc, companies, software, eric, stock, ipo, free, market, worth, zooms, yuan, zoom, ceo, billion, company, videoconferencing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Here are the top risk events facing global oil markets

As global supply stocks lessen, oil industry experts are agreed that the crude market is becoming ever more sensitive to a sudden or unexpected disruption. However there appears to be little agreement on what the current biggest risk actually is. That means a global oversupply of crude is draining, bringing supply and demand into balance and putting the market at risk of flipping into shortage. Energy analysts tend to agree that intensifying risk indicators in the oil market is a cause for conce


As global supply stocks lessen, oil industry experts are agreed that the crude market is becoming ever more sensitive to a sudden or unexpected disruption. However there appears to be little agreement on what the current biggest risk actually is. That means a global oversupply of crude is draining, bringing supply and demand into balance and putting the market at risk of flipping into shortage. Energy analysts tend to agree that intensifying risk indicators in the oil market is a cause for conce
Here are the top risk events facing global oil markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: sam meredith, ali mohammadi bloomberg via getty images, abdullah doma, afp, getty images, oleg nikishin
Keywords: news, cnbc, companies, oil, analysts, supply, crude, markets, yearthe, global, risk, west, start, events, market, facing


Here are the top risk events facing global oil markets

As global supply stocks lessen, oil industry experts are agreed that the crude market is becoming ever more sensitive to a sudden or unexpected disruption. However there appears to be little agreement on what the current biggest risk actually is.

Oil prices have soared since the start of the year, supported by ongoing OPEC-led supply cuts, escalating fighting in Libya and U.S. sanctions on Iran and Venezuela.

International benchmark Brent crude and U.S. West Texas Intermediate crude have risen by approximately 30% and 40% respectively since the start of the year.

The primary reason for the run-up is simple: The market is tightening. That means a global oversupply of crude is draining, bringing supply and demand into balance and putting the market at risk of flipping into shortage.

Energy analysts tend to agree that intensifying risk indicators in the oil market is a cause for concern. CNBC rounds up what oil traders and analysts view as potentially the most disruptive event.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: sam meredith, ali mohammadi bloomberg via getty images, abdullah doma, afp, getty images, oleg nikishin
Keywords: news, cnbc, companies, oil, analysts, supply, crude, markets, yearthe, global, risk, west, start, events, market, facing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Economy could be ‘a lot of power’ for GOP heading into 2020 elections, says strategist Jim Paulsen

The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday. But before that happens, he thinks it’s even possible for an unexpected surge in the stock market. While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said. “Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even sh


The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday. But before that happens, he thinks it’s even possible for an unexpected surge in the stock market. While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said. “Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even sh
Economy could be ‘a lot of power’ for GOP heading into 2020 elections, says strategist Jim Paulsen Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: michelle fox
Keywords: news, cnbc, companies, gop, higher, jim, economy, told, growth, 2020, strategist, stock, market, think, heading, lot, elections, thats, power, paulsen


Economy could be 'a lot of power' for GOP heading into 2020 elections, says strategist Jim Paulsen

The Republicans may have some good news heading into the 2020 presidential election season, noted market strategist Jim Paulsen told CNBC on Thursday.

That’s because he sees the timing of economic growth and the character of the economy as the most important issues for the election.

“In some sense, we may look back on this and say that the slowdown, if there was one here in 2019, might have been great timing for the Republican Party,” the chief investment strategist at The Leuthold Group said on “Power Lunch.”

In other words, if the economy slows down and the Trump administration and other global officials bring on the “full policy cavalry,” it will probably end up reviving economic growth both in the U.S. and abroad, Paulsen said.

“If that is the case going into voting season next year — where the economy is continuing to do not just OK but accelerating, and the unemployment rate is heading to 3% and wages continue to rise — I think that’s a lot of power for the Republican Party.”

While there was concern about a weak economy late last year, things are looking better. Retail sales soared in March, rising 1.6%, and weekly jobless claims came in at the lowest level since 1969 for the week ended April 13. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 192,000.

Forecasts have also come up for first-quarter gross domestic product. Next week, the government releases its advanced estimate of Q1 GDP. According to the CNBC Rapid Update, which measures how much new data changes the average tracking forecast among a select group of Wall Street economists, the median GDP forecast is now at 2.4%. That’s up from as low as 1% in March.

All that is good news for the stock market — for now, said Paulsen. He still thinks that at some point the Federal Reserve, in raising interest rates, will kill the economic recovery.

“It almost did last year. We were close to killing it off. But we hit the pause button,” he said, referring to the Fed’s decision earlier this year to hold off on raising interest rates after there were concerns about the economy dramatically slowing.

“Now we are just entering a period where we are going to have revival in growth without Fed tightening. That’s pretty good,” Paulsen said.

He sees a case where the yield on the 10-year Treasury can jump back above 3% and still not really hurt stocks.

However, at some point the Fed will be tightening again.

“Then it becomes a mixed bag and ultimately the Fed overdoes it,” he said. “That’s probably sometime off.”

But before that happens, he thinks it’s even possible for an unexpected surge in the stock market.

While many on Wall Street think the market will go higher this year, there are few who think it will go a lot higher, Paulsen said.

“Maybe the surprise is not that it is going to fall or go a little higher, maybe it blows a lot higher than it even should.”

Paulsen’s comments echo those of BlackRock CEO Larry Fink, who told CNBC on Tuesday that the market could have a quick rally from here.

“We have a risk of a melt-up, not a meltdown here. Despite where the markets are in equities, we have not seen money being put to work,” the head of the world’s largest asset manager told CNBC’s “Squawk Box.” “We have record amounts of money in cash. We still see outflows in retail in equities and in institutions.”

In stock market terms, a melt-up is considered a big move in the markets that comes from investors trying to get in on a momentum shift. It also can be a sign of a late-stage bull market.

— CNBC’s Fred Imbert and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: michelle fox
Keywords: news, cnbc, companies, gop, higher, jim, economy, told, growth, 2020, strategist, stock, market, think, heading, lot, elections, thats, power, paulsen


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak

The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said. Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. “The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm f


The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said. Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. “The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm f
Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
Keywords: news, cnbc, companies, overvalued, zoom, peak, sales, stocks, stock, trading, lead, money, pinterest, deals, market, cramer


Cramer: Overvalued stocks like Pinterest, Zoom could lead to a market peak

The debuts of Pinterest and Zoom Video Communications on public markets also came with froth, which could lead to a market peak, CNBC’s Jim Cramer said Thursday.

Froth is a trading environment that usually precedes a market bubble.

“The top of the market always comes when there is tremendous euphoria, and today we saw that euphoria in the two deals that went off hot,” the “Mad Money” host said.

After a $19 IPO, Pinterest closed its first day of trading at $24.40 — more than a 28% gain. Zoom originally priced its shares at $36. It settled at $62 at the end of the day — a more than 72% run.

Pinterest is selling at 21-times 2018 sales, not earnings, on the New York Stock Exchange. On the Nasdaq Composite, Zoom is trading even higher — 46-times fiscal 2019 sales, not earnings, Cramer said.

The host said he likes the prospects that each of these companies have, but the stock prices could be running in worrisome territory.

“Now that investors or traders or flippers are beginning to pay outrageous multiples to sales, not earnings, but sales, beware,” he said. “That’s a train that is headed to overvaluation hell and you will have to jump off it before it crashes.”

Cramer rehashed his argument that an oversupply of high-priced stocks could put a dagger in the longest bull run in stock market history. Lyft’s IPO bust, he said, was powered in part by the shareholders that were allowed to sell the stock instead of adhering to a lock-up period that could have ranged from 90-180 days.

“The lack of an effective lock-up crushed buyers, and I had hoped would quell enthusiasm for further deals,” Cramer said. “That, however after today, is clearly not the case. So we are going to bring a whole new class of unseasoned investor[s] into this market who are gaming the IPOs and that kind of investor usually arrives after the easy money is made.”

Cramer also said he’s concerned that there isn’t enough money available in growth-focused mutual funds to buy into the IPOs that are in the pipeline. The majority of new money being invested in the market has gone toward index funds, he pointed out.

“That means they can’t be buyers as these new stocks of courses aren’t in indices,” he said. “What will happen is growth funds will have to sell some of their holdings in order to buy these new holdings and, by the way, that happened all morning today.”

Furthermore, there has been a limited amount of supply on Wall Street, which means “there isn’t a lot of excess stock flying around,” Cramer said. Buyback programs have also shrank the volume of stocks available to trade, which could be counterproductive because stocks have rallied so much this year, he added.

That could create dangerous investing scenarios for the anticipated deals in Slack, Uber, and Palantir, he said.

“If you heard about the first-day gains in stocks like Pinterest and Zoom and you haven’t been in the racket, you are going to go to the gaming tables and hope to get some stock on the next deals,” Cramer said. “I am talking about the worst kinds of holders. Holders that are your enemy if you are in a stock that they dominate.”

There’s no need to panic yet — Thursday was just day one, he said.

“As these deals flood the market though, you will see across the board pressure as existing stocks are liquidated to buy the new ones,” Cramer said. “Selling cheap to fund expensive, like Pinterest, like Zoom, is a loser’s game, but may will end up playing it.”


Company: cnbc, Activity: cnbc, Date: 2019-04-18  Authors: tyler clifford
Keywords: news, cnbc, companies, overvalued, zoom, peak, sales, stocks, stock, trading, lead, money, pinterest, deals, market, cramer


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post