Breaking News: Investing
This biotech stock has jumped nearly 50% in 3 months. Its CEO says business is ‘growing substantially’
It’s been a stellar few months for shares of San Francisco-based biotech company Rigel Pharmaceuticals, which has approved treatments for rheumatology and oncology — as well as potential new drugs in the pipeline. The stock has jumped about 50% in just the last three months, earning it a spot on CNBC’s list of top performing […]
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Corporate travel and expense software firm Navan shares sink by double-digits in first trade after $6 billion Nasdaq IPO
Corporate travel and expense management platform Navan fell by as much as 15% in its first trading day on the Nasdaq under the ticker symbol “NAVN” after its successful initial public offering. The Navan IPO, which priced on Wednesday night, valued the business-to-business software vendor at $6.2 billion, raising $923 million and with shares settling […]
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Navan IPO lands rare one-person venture capital firm its biggest win ever, a $1 billion payday
It wasn’t a traditional pitch meeting. There were no slides, no product demo. There wasn’t even a clear explanation of what the founders were trying to build. But for investor Oren Zeev’s decision-making process, none of that was necessary. “I just liked them, I just wanted to be close to them,” said Zeev. “So I […]
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World’s largest sovereign wealth fund gains 5.8% in third quarter
Norges Bank Kristian Helgesen/Bloomberg | Bloomberg | Getty Images Norway’s $2 trillion sovereign wealth fund — the largest of its kind in the world — on Wednesday reported a 5.8% return during the third quarter, powered by strong stock market gains across mining, telecommunications and financial services. Norges Bank Investment Management (NBIM) manages the fund on behalf […]
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Ray Dalio says a risky AI market bubble is forming, but may not pop until the Fed tightens
Bridgewater Associates founder Ray Dalio on Tuesday warned that a bubble could be forming around megacap technology in the U.S. amid the artificial intelligence boom, but said that it may not end until the Federal Reserve reverses its current easy policies. “There’s a lot of bubble stuff going on,” Dalio told CNBC’s Sara Eisen in […]
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‘We’re trying to shame them’: Upstart activist investors target America’s underperforming banks
Key Points Hedge fund HoldCo has emerged from relative obscurity to launch activist investor campaigns against three regional banks: Comerica, Eastern Bank and First Interstate. Founders Vik Ghei and Misha Zaitzeff tell CNBC exclusively about their next target, Columbia Bank, and their broader plans to challenge banking CEOs. The millennial upstarts are bringing activism back […]
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PayPal signs deal with OpenAI to become the first payments wallet in ChatGPT
Alex Chriss, CEO of PayPal Inc. Courtesy: PayPal PayPal has signed a deal with OpenAI to have its digital wallet embedded into ChatGPT so users can pay for items found through the leading consumer AI tool, the company told CNBC exclusively. The agreement, sealed over the weekend, means that starting next year, both sides of […]
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Berkshire Hathaway downgraded to sell by KBW, citing Buffett succession, ‘many’ other issues
Keefe, Bruyette & Woods downgraded Berkshire Hathaway to underperform, warning that Warren Buffett’s succession risk and a slew of business-specific headwinds could weigh on the conglomerate’s earnings and share performance over the next year. The brokerage slashed its rating to the equivalent of sell from neutral, and cut its price target for Berkshire’s Class A […]
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‘VOO and chill:’ Why this popular investment strategy may be losing its appeal — even with stocks at all-time highs
Passive investing through exchange-traded funds may be losing its appeal. Tidal Financial Group Chief Revenue Officer Gavin Filmore finds many of his clients are no longer satisfied with buying popular ETFs tied to market indexes. “I think investors are looking beyond just the let’s call it the ‘VOO and chill approach’ where you just buy […]
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