As news emerges of Amazon considering a big push into pharmaceuticals, CNBC’s Jim Cramer endorsed one of his favorite drugmakers, Celgene, after its stock fell off a cliff on Thursday. “We like to buy low and sell high. It’s literally the oldest rule in the game,” the “Mad Money” host said as investors’ flight from […]
Read moreCNBC’s Jim Cramer rarely fails to notice new players arriving on the data center scene, which is why Switch’s initial public offering, the second-largest tech IPO of 2017, caught his attention. “After digging into this story, I think the pros do outweigh the cons, although I’m obviously not alone in believing that, as the stock […]
Read moreHere’s a round-up of the most important deals in venture capital this week. Uber agreed to take a big investment from SoftBank. The investor will put $1 billion to $1.25 billion into the ride-hailing company, and seeks to buy a 14 to 17 percent stake of shares from existing shareholders, sources told CNBC. SoftBank is […]
Read moreZume Pizza, a tech start-up that uses robots to make pizza, has raised nearly $50 million. The Mountain View, California, company has raised about $48 million, just $2 million shy of its $50 million goal, according to a filing with the Securities and Exchange Commission. Last December, it raised $23 million at a $50 million […]
Read moreNorth Korea is preparing to test a long-range missile which it believes can reach the west coast of the United States, a Russian lawmaker just returned from a visit to Pyongyang was quoted as saying on Friday. Anton Morozov, a member of the Russian lower house of parliament’s international affairs committee, and two other Russian […]
Read moreHere’s a roundup of the most important deals in venture capital this week. Start-ups raising Uber, the challenged ride-hailing company, agreed to take a big investment from SoftBank. The influential tech investor will put $1 billion to $1.25 billion into Uber at the company’s last reported valuation of $69 billion, sources told CNBC. SoftBank is […]
Read moreTesla is delaying its semi truck unveiling by more than two weeks, as the company diverts resources toward fixing Model 3 bottlenecks and producing more batteries for Puerto Rico and other areas in need. Tesla CEO Elon Musk tweeted out the update Friday afternoon. Musk The event had previously been tentatively scheduled for Oct. 26. […]
Read moreAn Apple executive responsible for operating data center infrastructure for some internet services — an increasingly important area for the company — has left, CNBC has learned. Eric Billingsley, director of internet services operations at Apple, was in charge of operating infrastructure for iCloud services, including the iCloud Drive document storage service that competes with […]
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A prominent Wall Street strategist who predicted bitcoin could more than quadruple in value in five years has created five indexes to track digital currencies. Fundstrat Global Advisors’ Thomas Lee said in a report Friday that the FS Crypto FX indexes are for institutional investors “to better understand the evolution and behavior of crypto-currencies.” In […]
Read moreSilicon Valley startup and logistics darling Flexport closing a $110 million funding round, valuing it at $920 million. Backers in this round include Yuri Milner’s DST, Peter Thiel’s Founder’s Fund and Wells Fargo. It also counts Google Ventures — now GV — among its earliest investors. Flexport sits right within the delivery space that rival […]
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