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The online bank is growing quickly and finally turning the corner on profitability. The last few years have been rough for SoFi Technologies (SOFI 1.93%) investors. 2024 isn't going much better. The financial technology (fintech) and online banking upstart is down around 20% year to date while the S&P 500 index soars in the U.S. Index holders have appreciated a 60% total return level since SoFi went public while SoFi stock is down around 29%. Read More
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"We do see a path to being competitive with Nvidia with Dojo," Musk told investors and analysts during Tuesday's call. "And I think we kind of have no choice because the demand for Nvidia is so high, and it's obviously their obligation essentially to raise the price of GPUs to whatever the market will bear, which is very high. So I think we've really got to make Dojo work, and we will." It's not the first time Musk has made a grandiose promise about what his tech could do without certainty he'd reach his desired outcome — and it's not clear he'll be able to follow through with this one, either. Read More
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The Evolv scanner — a sleek-looking weapons detector using artificial intelligence to search riders for guns and knives — was on display at a lower Manhattan subway station where Mayor Eric Adams announced the 30-day trial. “This is good technology,” Adams said at Fulton Center near the World Trade Center. Read More
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Billionaire investor Bill Ackman is postponing the highly scrutinized listing of Pershing Square's U.S. closed-end fund, according to a notice on the New York Stock Exchange's website. The initial public offering of Pershing Square USA Ltd, with the ticker PSUS, has been delayed until a date to be announced, according to the website. Ackman is now looking to raise $2.5 billion to $4 billion for the fund, well short of the $25 billion target from a few weeks ago, according to a regulatory filing dated Thursday. Read More
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If you want to know the secret to achieving happiness, the answer might be found in your bank account — as long as it's extremely well-funded. The link between happiness and money is getting a fresh look from economists and scientists, with new research finding multimillionaires are much happier than the merely well-to-do. In other words, the new study, from University of Pennsylvania's Wharton School senior fellow Matthew Killingsworth, indicates that the more money you have, the happier you are — and there may be no ceiling. Read More
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The world’s biggest basketball league had steady but unspectacular ratings last season but its blockbuster deal could predict the future of sports broadcasting. If there were ever any doubts that the future of television is streaming, the NBA just put them to rest. After months of protracted negotiations over the 11-year media rights deal set to begin in 2025, the NBA announced last night it has signed deals with incumbent Disney’s ESPN, which was already a rights holders, and new partners, NBCUniversal and Amazon. What’s even more remarkable than the eye-watering $76bn price tag, is just what the deal tacitly predicts for the future of sports coverage. Several things stand out. Firstly, the NBA’s new partners have notably strong streaming platforms, while still maintaining ties to network television (ABC/ESPN and NBC) and an over-the-air presence. Read More
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Angry T-Mobile customers have filed a class action lawsuit over the carrier's decision to raise prices on plans that were advertised as having a lifetime price guarantee. "Based upon T-Mobile's representations that the rates offered with respect to certain plans were guaranteed to last for life or as long as the customer wanted to remain with that plan, each Plaintiff and the Class Members agreed to these plans for wireless cellphone service from T-Mobile," said the complaint filed in US District Court for the District of New Jersey. “However, in May 2024, T-Mobile unilaterally did away with these legacy phone plans and switched Plaintiffs and the Class to more expensive plans without their consent.” Read More
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Thousands of former college athletes will be eligible for payments ranging from a few dollars to more than a million under the $2.78 billion antitrust settlement agreed to by the NCAA and five power conferences, a deal that also paves the way for schools to directly compensate athletes while attempting regulate payments from boosters. Details of the sprawling plan were filed Friday in federal court in the Northern District of California, a little more than two months after the framework of an agreement was announced. The deal must still be approved by a judge. Read More
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The 2024 Paris Games kicked off with an impressive opening ceremony.There were several allusions to famous French works of art, including "Les Misérables."The bells of Notre-Dame were rung for the first time since the destructive fire in 2019. The 2024 Olympics are being held in Paris this year, kicking off with Friday's opening ceremony. Read More
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Lockheed Martin has released new details about the air-launched hypersonic Mako missile, which promises to be the first hypersonic weapon in the world that can be launched from the internal weapons bay of not just the F-35, but the F-22 Raptor as well. This new missile has been under development for seven years and has been touted by Lockheed officials as a "multi-mission" weapon system capable of maritime strike, counter-air defense, and a variety of other surface-attack operations. It was originally developed for the US Air Force, but now may find a home with the US Navy instead. Read More
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The deal includes an immediate 18% pay increase, and boarding pay. Some flight attendants, such as those who have been working for seven years, could see pay scale increases of 120% over five years, according to a chart from the union, the Association of Professional Flight Attendants (AFPA), which hailed the contract’s “leading industry rates” in a letter to members. American’s 28,000 flight attendants still must vote on the agreement for it to be enacted. If the deal is accepted, all would see an immediate pay raise of at least 18%, with the scale rising over the years. A flight attendant in their first year, who makes $30.35 per flight hour now, would immediately begin making $35.82. After five years, a first-year attendant will make $40.42, an increase of about 33%. Read More
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Hoffman is a longtime Democratic donor who recently donated $7 million to a super PAC supporting Vice President Kamala Harris. But following the donation, Hoffman publicly denounced Biden’s leader of the Federal Trade Commission, Lina Khan, who has been aggressive in her antitrust actions against big companies, including Microsoft, where Hoffman sits on the board of directors. “Lina Khan is…a person who is not helping America,” Hoffman told CNN. “I would hope that Vice President Harris would replace her.” Read More
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An unexpected friendship has apparently blossomed between two of the world's richest men: Elon Musk and Bernard Arnault. Arnault, who is the chairman of luxury conglomerate LVMH and the world's third-richest person, discussed his relationship with Musk, the wealthiest man on Earth, during a wide-ranging interview on CNBC's "Squawk Box" ahead of the Opening Ceremonies of the Paris Olympics, of which LVMH is a sponsor. Read More
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Online sports betting is increasing consumer stress as access to gambling proliferates, a new study found. A US Supreme Court ruling in 2018 led to 38 states legalizing sports gambling. In its wake, researchers found a “substantial increase” in auto loan delinquencies, bankruptcies and debt collections in states that permitted online sports betting, according to the working paper that is yet to be peer reviewed. Read More
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"I'm going to put myself out there; I'm going to go do this and have an amazing time," Chiles said, adding she "didn't want to regret anything." Chiles is a Olympic silver medalist — she took home the award for the team event at the 2020 Tokyo Olympics — and has two World Championship silver medals in floor and vault, and a gold in the team event. Read More
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Check out the companies making headlines in midday trading: 3M — The stock skyrocketed more than 18% to hit a 52-week high after the maker of office supplies and adhesives reported stronger-than-expected quarterly results. 3M posted second-quarter adjusted earnings of $1.93 per share, exceeding an LSEG estimate of $1.68 per share. Its revenue also came in above expectations. Dexcom — Shares plummeted more than 40% after the medical device maker missed expectations for second-quarter revenue and offered weak full-year guidance for the measure. Dexcom said it earned $1 billion in revenue during the three-month period, under the consensus forecast of $1.04 billion from analysts polled by LSEG. Coursera — The online course provider soared 37.8% after reporting $170 million in second-quarter revenue, above the consensus estimate of $164 million from analysts surveyed by LSEG. On the other hand, the company said it lost 15 cents a share, much wider than the anticipated earnings of 1 cent per share. Newell Brands — The Rubbermaid and Yankee Candle parent surged 38.8% after announcing adjusted earnings of 36 cents per share for the second quarter, well above the consensus estimate of 21 cents a share, according to LSEG. However, Newell saw just $2.03 billion in revenue, slightly under the $2.05 billion figure expected by Wall Street. Deckers Outdoor — Shares of the footwear company advanced 7.8% on its better-than-expected fiscal first-quarter earnings report. Deckers, which saw its sales boosted by brands Uggs and Hoka, posted earnings of $4.52 per share on revenue of $825 million. That exceeded analysts' expectations for earnings of $3.48 per share on revenue of $808 million, per LSEG. Boston Beer — The alcoholic beverages producer popped 3.6% after reaffirming its outlook for full-year earnings per share despite a weak second quarter. Boston Beer earned $4.39 per share on $579... Read More
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Deadly listeria outbreak linked to sliced deli meat, CDC says Boar's Head Provisions is recalling all of its liverwurst products on stores shelves because it could contain listeria, the U.S. Food and Safety Inspection Service said Friday. The announcement comes as health officials investigate a listeria outbreak that has sickened 34 people and caused two deaths in more than a dozen states. Read More
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Prominent short seller Andrew Left, the founder of Citron Research, has been charged by the U.S. Department of Justice with multiple counts of securities fraud for a $16 million stock market manipulation scheme. The Department of Justice said in a statement on Friday that Left is charged with one count of engaging in a securities fraud scheme, 17 counts of securities fraud and one count of making false statements to federal investigators. Read More
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All but one type of crime decreased in the first six months in 2024, according to a July report from the Council on Criminal Justice (CCJ). Shoplifting rose 24% in the first half of the year, while every other type of crime dropped, according to the study, which analyzed crime statistics in 23 cities. The data shows shoplifting is up across the country, reflecting what retailers have described as a growing problem. As businesses invest in anti-theft technology to deter criminals, consumers express frustration at the sheer volume of products, from toiletries to snacks, that they now find under lock-and-key on store shelves. Read More
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French rail network hit by 'acts of sabotage' in latest transport woes for Paris during the Olympics
France's rail network has been hit by a series of "malicious acts" that have damaged transport routes leading to the capital, causing cancellations and disruption just hours before the Paris Olympics opening ceremony. "Last night, SNCF was the victim of several simultaneous malicious acts affecting the Atlantique, Northern and Eastern high-speed lines," the SNCF, France's train operator, said in a statement. Read More
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Billionaires are lining up to sell Nvidia stock, but that isn't the big story. Nvidia (NVDA -1.72%), undeniably, has been the standout stock of the year. Its dominance in the stock market extends even further, with a staggering 800% surge in its stock price in less than two years. Read More
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The California Supreme Court on Thursday ruled unanimously that drivers for app-based companies including Uber, Lyft, and DoorDash will remain independent contractors, as opposed to employees. The decision, upholding a state ballot measure called Proposition 22, was considered a major victory for the gig-economy companies. The question of whether those who drive for the companies should be treated as employees or contractors has spurred a yearslong legal battle in the state. In 2020, California voters approved Proposition 22, allowing app-based companies to continue to treat their workers as independent contractors. That vote reversed an earlier court ruling that found such companies controlled too many of their drivers’ working conditions to treat them as contractors. The ballot measure campaign cost its advocates, including Uber, Lyft, Postmates, Instacart, and DoorDash, some $200 million, breaking state records for spending. Read More
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Renting vs. buying, here's what you need to know After years of soaring housing costs, renters may finally have something to celebrate. Economists say the most recent Consumer Price Index (CPI) report signals that inflation in the rental market is easing, giving millions of Americans some financial relief. And with rents markedly slower to ease than other spending categories, the downshift highlights that the ferocious inflation that slammed households starting in 2022 is relenting in earnest. Read More
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After its former CEO was convicted of a multimillion-dollar fraud scheme this month, the defunct media company Ozy is no longer pursuing its sprawling lawsuit alleging its trade secrets were stolen. Smith went on to cofound the media company Semafor using Ozy's ideas, the lawsuit alleged. Read More
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The Garden State has enacted a hefty new tax credit specifically for AI businesses. But tax incentives—particularly around data centers—haven’t always created large numbers of jobs. Read More
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It turns out that Chipotle customers were right in their complaints about skimpy portion sizes at some locations. On Wednesday, CEO Brian Niccol disclosed that a company investigation found that 1 in 10 of its restaurants were too meager with their servings. Chipotle looked into the issue after rumors of shrunken portions circulated on social media, including from influential food reviewers on TikTok who shared images of small helpings. Some customers claimed they got bigger meals when they filmed workers putting their orders together. Read More
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Carrier USS Dwight D. Eisenhower recently returned home after a deployment for the history books.The aircraft carrier sailed on the front lines of the Red Sea fight against Houthi attacks.Photos show the Ike's twice-extended deployment in the Middle East. A US Navy carrier and its strike group returned home earlier this month after a grueling nine months fighting Houthi rebels in the Red Sea. Read More
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Social Security's cost-of-living adjustment (COLA) is on the verge of doing something that hasn't happened in roughly three decades -- but it likely won't help retirees. Read More
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When you buy through our links, Business Insider may earn an affiliate commission. Learn more With so many sports events happening right now in Paris, it can be hard to track down the specific ones you want. That's why we've put together everything you need to know about where to watch free Olympics tennis live streams. Wherever you are in the world, we can help you tune in. Read More
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It's looking more and more like SpaceX may have to step in and bring them home. The company's Crew Dragon spaceship has been successfully flying astronauts to and from the ISS for years. "We have two different systems that we're flying," Steve Stich, the manager of NASA's Commercial Crew Program, said in a press briefing on Thursday. He was referring to the Boeing Starliner and SpaceX's Crew Dragon. Read More
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Two U.S. senators are calling on the Federal Trade Commission to investigate automakers selling customers’ driving data to brokers who package it and then sell it to insurance companies. In a letter to FTC Chairwoman Linda Khan, Democrats Ron Wyden of Oregon, and Edward Markey of Massachusetts allege that General Motors, Hyundai, Honda and perhaps others are sharing drivers’ data, such as sudden braking and acceleration. Read More
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Mexican President Andrés Manuel López Obrador thanked Guatemala on Friday for helping the nearly 600 Mexicans who have crossed into Guatemala to escape drug cartel violence, but also minimized the violence that drove them there. In his first comments since the refugees fled earlier this week, the president went on to add that Mexico is a large country, and like many other parts of the world, “there are conflicts.” Read More
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U.S. Secretary of Commerce Gina Raimondo said in a statement that the effort was intended to "help make sure America’s coastal communities are more resilient to the effects of climate change.” Read More
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Her departure from the Alaska Permanent Fund, where she was vice chair, takes effect Aug. 1, she announced at its board meeting Wednesday, surprising some of the trustees. Part of her job as a board member was to introduce staff to potential investment managers that the fund might want to do business with, and ultimately it didn’t invest with anyone she had referred, a spokesman for Rubenstein said Friday. Read More
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When you buy through our links, Business Insider may earn an affiliate commission. Learn more Fitbit's wearables do almost everything. From counting steps and tracking workouts to monitoring sleep patterns and stress levels, the best Fitbit can help improve your well-being. And there are a variety of Fitbit models designed for different types of users. Read More
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Paid non-client promotion: Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate investing products to write unbiased product reviews. I've always struggled with budgeting. I try different tactics but always abandon them fast. But a conversation with a friend turned things around for me, and now I'm saving more than ever. She taught me how to build a budget that's realistic, flexible, and helps me achieve my goals. Read More
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Many of yesterday’s talks were littered with the acronyms you’d expect from this assemblage of high-minded panelists: YC, FTC, AI, LLMs. But threaded throughout the conversations—foundational to them, you might say—was boosterism for open source AI. It was a stark left turn (or return, if you’re a Linux head) from the app-obsessed 2010s, when developers seemed happy to containerize their technologies and hand them over to bigger platforms for distribution. Read More
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A powerful Mexican drug cartel leader who eluded authorities for decades was duped into flying into the U.S., where he was arrested alongside a son of Joaquín “El Chapo” Guzmán, according to a U.S. law enforcement official familiar with the matter. Ismael “El Mayo” Zambada got on an airplane to the U.S. believing he was going somewhere else, said the official, who spoke on the condition on anonymity because they were not authorized to discuss the matter. The official did not provide additional details, including who persuaded Zambada to get on the plane or where exactly he thought he was going. Read More
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JPMorgan Chase, the world’s largest bank by market cap, began rolling out to employees its own internal chatbot, known as LLM Suite, per a report in the Financial Times. They were encouraged to use it for “writing, generating ideas, solving problems using Excel, summarizing documents” among other things, according to an email sent by the bank. Read More
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J.D. Vance’s bona fides for a run to the U.S. Senate in 2022 largely rested on two things—the success of his Rust Belt memoir, Hillbilly Elegy, which captured the plight of the white working class, and a career in venture capital that began in 2016 at Mithril, the firm founded by billionaire investor and Paypal co-founder Peter Thiel. But according to some of Vance’s former colleagues, the new vice presidential nominee’s track record at the fund that gave him his start wasn’t all that memorable. Read More
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Paris trains came to a halt, delaying athletes and tourists ahead of the Olympics opening ceremonies. Authorities are looking for the suspected arsonists who sabotaged the Paris Games. Read More
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A typical entry-level home in the U.S. costs roughly $200,000. But in a growing number of cities, that would only cover the down payment. With housing in short supply around the country and the stiffest mortgage rates in years, you need at least $1 million to buy a starter home in 237 cities, according to a Zillow analysis. That's a hefty sum for a place to live that's defined in the report as being in the lowest third of home values in a given region. The new data marks a significant rise from five years ago, when only 84 U.S. cities had starter homes that cost seven figures. Read More
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US Treasury Secretary Janet Yellen firmly rejected an accusation from the economist Nouriel Roubini that her department has manipulated the issuance of Treasury securities in a way that lowers real borrowing costs across the economy. In an interview with Bloomberg News, Yellen said Roubini’s argument, laid out in a paper published Tuesday, “suggests a strategy that is intended to ease financial conditions, and I can assure you 100% that there is no such strategy. We have never, ever discussed anything of the sort.” Read More
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When you buy through our links, Business Insider may earn an affiliate commission. Learn more Twenty years ago, my husband and I purchased a small beach cottage on the Jersey Shore. At the time, I was the beauty editor at Health Magazine writing story after story about skin cancer, so keeping my three young children safe from the sun was always top of mind. (Scary stat: more Americans are diagnosed with skin cancer each year than all other cancers combined.) Yet, it's taken me almost two decades to find the perfect beach umbrella to protect my family — after having tested more monopoles, tents, and cabanas than I care to remember. Read More
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Rent Day normally means paying your landlord one of your biggest monthly expenses. But, Bilt flipped the script to the first day of every month into an opportunity to earn bonus points and take advantage of limited-time offers. For August, Bilt is offering a terrific deal on Virgin Voyages cruises. Here’s what you need to know. Bilt Rent Day promotions for August 2024 Whether you have the Bilt Mastercard® or not, Rent Day promotions provide the opportunity to earn valuable Bilt Rewards points. Every month, there are multiple ways to earn bonus points. Sign up for a free Bilt Rewards program membership today to start earning. Read More
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Berkshire Hathaway is betting big on these two companies, but one stock is superior. Berkshire Hathaway, Warren Buffett's holding company, has moved billions of dollars in recent quarters. In a rare move, it even secretly bought a huge stake in one company that it only revealed recently. Read More
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Is SoundHound AI stock undervalued, overvalued, or somewhere in between? Find out in this detailed analysis of the company's robust contract backlog. Is it too late to buy SoundHound AI (SOUN 6.15%) stock today? If so, my own investment five months ago will turn out to be a terrible deal in the long run. Read More
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For Frank Cappelleri, technical analysis — reading charts to identify patterns in stocks and other assets — is not an art or a science. "It's both." That's because, "I can look at an indicator and use a different way that someone else does," Cappelleri, the founder and president of CappThesis, told CNBC's Senior Markets Correspondent Dominic Chu in this special Pro Talks discussion available to all readers above. (Pro subscribers can watch the full interview, including Cappelleri's outlook on the stock market, here .) The technician, who has 25 years of experience trading stocks and analyzing chart patterns, discusses: How he started his career in technical analysis and the lessons he's learned. The tools he uses to identify breakouts — both to the upside and downside. How he identifies what's a signal and tunes out noise from a chart. His approach to risk management — by looking at chart patterns. Read More
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Steve Jobs is 28 years old, and seems a little nervous as he starts his speech to a group of designers gathered under a large tent in Aspen, Colorado. He fiddles with his bow tie and soon removes his suit jacket, dropping it to the floor when he finds no other place to set it down. It is 1983, and he’s about to ask designers for their help in improving the look of the coming wave of personal computers. But first he will tell them that those computers will shatter the lives they have led to date. “How many of you are 36 years … older than 36?” he asks. That’s how old the computer is, he says. But even the younger people in the room, including himself, are sort of “precomputer,” members of the television generation. A distinct new generation, he says, is emerging: “In their lifetimes, the computer will be the predominant medium of communication.” Read More
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Nike is one of the worst-performing stocks in the Dow Jones so far this year. The markets have gotten off to a roaring start in 2024. The S&P 500 has returned roughly 17% so far this year, while the Nasdaq Composite has surged by 20%. But one stock that hasn't fared so well is Nike (NKE 0.45%). Shares of the footwear and apparel maker have cratered 32% -- making it one of the worst performers in the Dow Jones Industrial Average. Read More