Tag Archives: Soar

$45 Billion of Warren Buffett’s Portfolio Is Invested in 2 Stocks That Could Soar More Than 20% Over the Next 12 Months, According to Wall Street – The Motley Fool

  1. $45 Billion of Warren Buffett’s Portfolio Is Invested in 2 Stocks That Could Soar More Than 20% Over the Next 12 Months, According to Wall Street The Motley Fool
  2. 75% of Warren Buffett’s equity portfolio is in just 5 stocks. Here’s what they are CNBC
  3. 12 Warren Buffett Style Stocks With A Margin Of Safety Forbes
  4. At a 52-Week Low, This Underappreciated High-Yield Dividend Stock Can Provide Passive Income for a Lifetime The Motley Fool
  5. Warren Buffett Is Investing In Gas and Oil: Why Cheap Energy Companies Should Be In Your Investment Portfolio Yahoo Finance
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Soar through the ‘Labyrinth of Night’ — a Martian canyon the size of Italy — in thrilling new satellite video – Livescience.com

  1. Soar through the ‘Labyrinth of Night’ — a Martian canyon the size of Italy — in thrilling new satellite video Livescience.com
  2. See Mars’ Grand Canyon, The Labyrinth Of Night Giant Freakin Robot
  3. Fly across Mars’ ‘Labyrinth of Night’: Incredible video reveals what it would be like to soar over the surface Daily Mail
  4. Mars probe captures stunning ‘bird’s eye’ footage flying over Martian ‘maze’ and reveals ‘ancient secret’… The US Sun
  5. Amazing Flyover Reveals What Soaring Across Mars Would Look Like ScienceAlert
  6. View Full Coverage on Google News

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Fly across Mars’ ‘Labyrinth of Night’: Incredible video reveals what it would be like to soar over the surface – Daily Mail

  1. Fly across Mars’ ‘Labyrinth of Night’: Incredible video reveals what it would be like to soar over the surface Daily Mail
  2. See Mars’ Grand Canyon, The Labyrinth Of Night Giant Freakin Robot
  3. Mars probe captures stunning ‘bird’s eye’ footage flying over Martian ‘maze’ and reveals ‘ancient secret’… The US Sun
  4. Breathtaking views of Mars’ Labyrinth of Night and colossal valleys shared by ESA IndiaTimes
  5. Amazing Flyover Reveals What Soaring Across Mars Would Look Like ScienceAlert
  6. View Full Coverage on Google News

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Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it – Yahoo Finance

  1. Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it Yahoo Finance
  2. Elon Musk’s Bid To Control OpenAI Was Met With Resistance From Co-Founders, Report Reveals – Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL) Benzinga
  3. Sam Altman says his ‘hero’ Elon Musk is ‘obviously attacking’ OpenAI Business Insider
  4. Altman vs. Musk: OpenAI treads on Tesla’s robot turf with investment in Norway’s 1X Fortune
  5. Elon Musk Slams OpenAI: Accuses Company Of Losing Its Way – Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) Benzinga
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Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it – Fortune

  1. Elon Musk has watched Twitter plummet in value and OpenAI soar after he parted ways with it Fortune
  2. Elon Musk’s Bid To Control OpenAI Was Met With Resistance From Co-Founders, Report Reveals – Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL) Benzinga
  3. OpenAI CEO Says Musk is Criticizing Company Due to AI Safety Concerns Times Now
  4. Elon Musk Reportedly Tried to Take Over OpenAI Several Years Ago, But Failed Futurism
  5. Elon Musk Slams OpenAI: Accuses Company Of Losing Its Way – Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) Benzinga
  6. View Full Coverage on Google News

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Meta Shares Soar Most Since 2013 on Zuckerberg’s Vision

(Bloomberg) — Meta Platforms Inc. is on track to post its biggest single-day gain in almost a decade after Chief Executive Officer Mark Zuckerberg laid out plans to make the social media giant leaner, more efficient and more decisive.

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Zuckerberg, who has spent the past year promising a faraway future in a digital world called the metaverse, was more focused during a call with investors on Wednesday on immediate problems, such as sending users the most relevant videos at the right time, and finally making significant revenue from messaging products. He called 2023 the “Year of Efficiency.” Shares jumped 19% to $181.77 at 9:45 a.m. in New York.

“We’re working on flattening our org structure and removing some layers of middle management to make decisions faster, as well as deploying AI tools to help our engineers be more productive,” Zuckerberg said on an earnings call with investors on Wednesday. “There’s going to be some more that we can do to improve our productivity, speed and cost structure.”

Zuckerberg said the company is using AI to improve the way it recommends content — a strategy for making the platform more attractive to users and advertisers alike. Meta is still suffering from a slump in demand for digital ads, which make up the vast majority of its sales, especially from clients in finance and technology. But the company also pointed to some industries, including health and travel, where businesses are spending more.

Fourth-quarter sales fell 4% to $32.2 billion, the third straight period of declines. Even so, the total beat analysts’ estimates, and Meta projected revenue of $26 billion to $28.5 billion for the first quarter, in line with an average projection of $27.3 billion. Analysts are predicting that Meta will return to growth following the current period.

Snap Inc., the parent of rival social-media app Snapchat, gave a less upbeat outlook on Tuesday, sending its shares down 10%. Snap said it expected sales to decline in the current period, with CEO Evan Spiegel remarking that the ad slump appears to be bottoming out. “Advertising demand hasn’t really improved, but it hasn’t gotten significantly worse either,” Spiegel said on a conference call.

Read more: Snap CEO Spiegel Says Digital Advertising Slump Has Leveled Off

Meta, whose shares have gained 27% so far this year, is on the rebound after the worst year for its stock in history. The company faced a decline in advertiser demand due to weakness in the broader economy as well as a change in privacy rules on Apple Inc.’s iPhone, which made it harder for Meta to offer targeted ads. Meta cut 11,000 jobs, or 13% of the workforce, in November in its first-ever major layoff.

Those cuts came during a quarter that was otherwise an improvement for the company. Facebook, Meta’s flagship social network, now has more than 2 billion daily users, up more than 70 million from a year ago.

The company also boosted its stock-buyback authorization by $40 billion, adding to the $10.9 billion remaining from previous repurchase programs. In the fourth quarter, Meta recorded restructuring charges of $4.2 billion related to its job cuts.

Zuckerberg has spent tens of billions of dollars on an effort to build the metaverse — a digital world where people can work and play. Those efforts are still in their early stages, which means much of the investment is not leading to immediate returns.

Still, the Menlo Park, California-based company said 2023 expenses will be $89 billion to $95 billion — less than Meta previously forecast. That could help ameliorate investor concerns that the company is overspending on its virtual-reality ambitions.

Capital expenditures in the recent quarter soared to $32 billion. In the fourth quarter of 2021, by contrast, capital spending was $5.54 billion.

–With assistance from Subrat Patnaik.

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©2023 Bloomberg L.P.

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Meta shares soar on resilient revenue and $40bn in buybacks

Meta shares jumped on Wednesday after the social media company’s sales for the final quarter of 2022 came in better than expected and it authorised an additional $40bn in share buybacks.

Meta, which owns Facebook, Instagram and WhatsApp, reported revenues of $32.2bn, a 4 per cent decline from the year before but at the top end of its guidance. It was also slightly above analysts’ estimates of a drop to $31.7bn, according to S&P Capital IQ.

The company also announced an additional $40bn for share buybacks. Meta shares jumped about 19 per cent in after-hours trading. If that gain holds, it would add about $76bn to its market value, according to Bloomberg data.

The results present a rosier picture for Meta, which has been squeezed over the past year by the economic slowdown that prompted marketers to cut their spending, along with heightened competition from TikTok and challenges in tailoring and measuring ad campaigns following Apple’s privacy changes.

Monthly active users on one or more of its apps rose 4 per cent to 3.74bn in the fourth quarter, while user numbers for the Facebook app specifically rose 2 per cent to 2.96bn.

However, its profits took a substantial knock in the quarter due to billions of dollars of restructuring costs as it seeks to wrestle its finances under control rising impatience from investors over its costly metaverse bet.

Net income in the fourth quarter dropped 55 per cent to $4.7bn, compared with consensus estimates for a drop to $6bn. Meta blamed a restructuring cost of $4.2bn in the quarter related to facilities consolidation, job cuts and the cancellation of multiple data centres.

In a call with investors, chief executive Mark Zuckerberg said that his “management theme” for the company in 2023 was “efficiency”.

The company would focus on removing some layers of middle management, cut low-performing projects and deploying artificial intelligence tools to help its engineers be more productive, he said.

“2022 was a challenging year. But I think we ended up having made good progress on our main priorities and setting ourselves up to deliver better results this year, as long as we keep pushing on efficiency,” Zuckerberg added.

Meta, which expanded its headcount rapidly since the start of the coronavirus pandemic, has sought to bring down costs as Wall Street has increasingly questioned its lossmaking efforts to build an avatar-filled digital world known as the metaverse. As with its many other virtual and augmented reality projects, they are not expected to generate returns for many years.

In November, Meta announced its biggest headcount reductions, dismissing 11,000 staffers, or about 13 per cent of total employees. It also introduced other measures such as reducing budgets and employee perks, and shrinking its “real estate footprint”.

On Wednesday, the company forecast revenues for the current quarter of between $26bn-$28.5bn. It also anticipates 2023 expenses in the range of $89bn-$95bn, down from the prior outlook of $94bn-$100bn, due to “slower anticipated growth in payroll expenses and cost of revenue”.

It expects a further $1bn in restructuring charges, down from a previous estimate of $2bn.

Additional reporting by Nicholas Megaw

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As egg prices soar, the deadliest bird flu outbreak in US history drags on

Enlarge / Chicken eggs are disposed of at a quarantined farm in Israel’s northern Moshav (village) of Margaliot on January 3, 2022.

The ongoing bird flu outbreak in the US is now the longest and deadliest on record. More than 57 million birds have been killed by the virus or culled since a year ago, and the deadly disruption has helped propel skyrocketing egg prices and a spike in egg smuggling.

Since highly pathogenic avian influenza (HPAI) A(H5N1) was first detected in US birds in January 2022, the price of a carton of a dozen eggs has shot up from an average of about $1.79 in December 2021 to $4.25 in December 2022, a 137 percent increase, according to data from the US Bureau of Labor Statistics. Although inflation and supply chain issues partly explain the rise, eggs saw the largest percentage increase of any specific food, according to the consumer price index.

And the steep pricing is leading some at the US-Mexico border to try to smuggle in illegal cartons, which is prohibited. A US Customs and Border Protection spokesperson told NPR this week that people in El Paso, Texas, are buying eggs in Juárez, Mexico, because they are “significantly less expensive.” Meanwhile, a customs official in San Diego tweeted a reminder amid a rise in egg interceptions that failure to declare such agriculture items at a port of entry can result in penalties up to $10,000.

Foul effects

Still, America’s pain in grocery store dairy aisles likely pales compared to some of the devastation being reaped on poultry farms. HPAI A(H5N1) has been detected in wild birds in all 50 states, and 47 have reported outbreaks on poultry farms. So far, 731 outbreaks across 371 counties. At the end of last month, two outbreaks in Weakley County, Tennessee, affected 62,600 chickens.

With the outbreak at the one-year mark, it is the longest bird flu outbreak on US record. And with 57 million birds dead across 47 states, it’s also the deadliest, surpassing the previous record set in 2015 of 50.5 million birds in 21 states.

Although the virus is highly contagious to birds—and often fatal—the risk to humans is low. The Centers for Disease Control and Prevention notes that the avian influenza Type A viruses (aka bird flu viruses) generally don’t infect humans, though they occasionally can when people have close or lengthy unprotected contact with infected birds. Once in a human, it’s even rarer for the virus to jump from human to human.

In the current outbreak, the CDC has tracked more than 5,000 people who have had contact with infected birds, but only found one single case of bird flu in a human. The reported case in Colorado came from a person who worked directly with infected birds and was involved with a cull. The person had mild symptoms and recovered.

Flu fears

Although the current data is comforting, virologists and epidemiologists still fear the potential for flu viruses, such as bird flu, to mutate and recombine into a human-infecting virus with pandemic potential. A report published in the journal Eurosurveillance on January 19 highlighted the concern. Researchers in Spain documented an outbreak of avian flu among farmed mink on the northwestern coast during October of last year. The mink were likely infected via wild seabirds, which had a coinciding wave of infection with H5N1 viruses at the time. Over the course of October, more and more mink fell ill, suggesting mink-to-mink transmission, which led to the culling of the entire colony of nearly 52,000 animals starting in late October.

Notably, the H5N1 virus infecting the mink had an uncommon mutation that may have enabled it to spread to and among the mink. Mammal-to-mammal transmission of an avian virus alone is noteworthy, but it’s particularly concerning in mink, which can act as viral blenders. As the authors of the Spanish report note:

Experimental and field evidence have demonstrated that minks are susceptible and permissive to both avian and human influenza A viruses, leading to the theory that this species could serve as a potential mixing vessel for the interspecies transmission among birds, mammals and human.

As such, the authors say it is necessary to “strengthen the culture of biosafety and biosecurity in this farming system and promote the implementation of ad hoc surveillance programs for influenza A viruses and other zoonotic pathogens at a global level.”

None of the workers on the mink farm became infected with the H5N1 virus, the authors report. However, they note that using face masks was compulsory for all mink farm workers in Spain following concerns over the spread of SARS-CoV-2. And upon the first detection of an illness at the farm, the workers there took precautions in case it was SARS-CoV-2, which included using disposable overalls, face shields, face mask changing twice per day, and frequent hand washing, all beginning on October 4.



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China manufacturing contracts sharply as Covid infections soar

A textile factory on December 30, 2022 in Jiangxi Province. Chinese manufacturing activity contracted at its sharpest pace in nearly 3 years in December.

Vcg | Visual China Group | Getty Images

China’s factory activity shrank for the third straight month in December and at the sharpest pace in nearly three years as Covid infections swept through production lines across the country after Beijing’s abrupt reversal of anti-virus measures.

The official purchasing managers’ index (PMI) fell to 47.0 from 48.0 in November, the National Bureau of Statistics (NBS) said on Saturday. Economists in a Reuters poll had expected the PMI to come in at 48.0. The 50-point mark separates contraction from growth on a monthly basis.

The drop was the biggest since the early days of the pandemic in February 2020.

The data offered the first official snapshot of the manufacturing sector after China removed the world’s strictest Covid restrictions in early December. Cumulative infections likely reached 18.6 million in December, UK-based health data firm Airfinity estimated.

Analysts said surging infections could cause temporary labour shortages and increased supply chain disruptions. Reuters reported on Wednesday that Tesla plans to run a reduced production schedule at its Shanghai plant in January, extending the reduced output it began this month into next year.

Weakening external demand on the back of growing global recession fears amid rising interest rates, inflation and the war in Ukraine may further slow China’s exports, hurting its massive manufacturing sector and hampering an economic recovery.

While (the factory PMI) was lower than expected, it is actually hard for analysts to provide a reasonable forecast given the virus uncertainties over the past month.”

Zhou Hao

chief economist, Guotai Junan International

“Most factories I know are way below where they could be this time of year for orders next year. A lot of factories I’ve talked to are at 50%, some are below 20%,” said Cameron Johnson, a partner at Tidalwave Solutions, a supply chain consulting firm.

“So even though China is opening up, manufacturing is still going to slow down because the rest of the world’s economy is slowing down. Factories will have workers, but they will have no orders.”

NBS said 56.3% of surveyed manufacturers reported that they were greatly affected by the epidemic in December, up 15.5 percentage points from the previous month, although most also said they expected the situation will gradually improve.

Recovery hopes?

“While (the factory PMI) was lower than expected, it is actually hard for analysts to provide a reasonable forecast given the virus uncertainties over the past month,” said Zhou Hao, chief economist at brokerage house Guotai Junan International.

“In general, we believe that the worst for the Chinese economy is behind us, and a strong economic recovery is ahead.”

The country’s banking and insurance regulator pledged this week to step up financial support to small and private businesses in the catering and tourism sectors that were hit hard by the Covid-19 epidemic, stressing a consumption recovery will be a priority.

The non-manufacturing PMI, which looks at services sector activity, fell to 41.6 from 46.7 in November, the NBS data showed, also marking the lowest reading since February 2020.

The official composite PMI, which combines manufacturing and services, declined to 42.6 from 47.1.

“The weeks before Chinese New Year are going to remain challenging for the service sector as people won’t want to go out and spend more than necessary for fear of catching an infection,” said Mark Williams, Chief Asia Economist at Capital Economics.

“But the outlook should brighten around the time that people return from the Chinese New Year holiday – infections will have dropped back and a large share of people will have recently had Covid and feel they have a degree of immunity.”

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Brad Pitt and Margot Robbie Soar In Hollywood Tale – Deadline

After enormous success and Oscars for films ranging from Whiplash to La La Land to First Man Director/Writer Damien Chazelle returned to an early dream project first envisioned 15 years ago, a no-holds barred look at early Hollywood, a time when not only movies were transitioning from silent to sound, but Los Angeles itself was booming from desert to bulging metropolis. People were caught up in a turbulent time of change, and it didn’t always work out for some. As witnessed in the resulting film and years of meticulous research, Babylon is a sight to behold, a decadent, free wheeling, at times even poignant look at a series of dreamers, stars, fringe players, and all who wanted a piece of a world that felt out of control, uninhibited, and full of promise – and downfall.

With more than 100 speaking roles and a widescreen full of extras, Chazelle has created a vision of Hollywood at the time that seems strikingly original, yet oddly appropriate from the man who viewed another set of dreamers in Hollywood through a more romantic and contemporary lens in La La Land, the film that would make him the youngest Best Director Oscar winner ever, garner 14 nominations, and win 6. He seems drawn to the intrigue of who drifts into this city, separated by several generations, but still finding L.A. a magnet. In Babylon it is breathtaking to see an untamed and adventurous new world transition to something that will be more controlled and business-like once it starts to talk, but the view from the top and the bottom before it gets there is a wild ride like no other in recent cinema.

That seems to be the goal here. Chazelle would host screening screenings in projection rooms of some of the most ambitious, risk taking films of all time in order to be inspired in the early days of writing this Hollywood epic. He and associates would watch everything from the likes of D.W. Griffith’s massive Intolerance to Wings to La Dolce Vita to Nashville to Citizen Kane to Chinatown, The Godfather Part 2, Apocalypse Now, There Will Be Blood, Cabaret and more. You get the idea. If Babylon, at 3 hours and 9 minutes doesn’t quite reach those heights, it is guaranteed to be a movie that will stay in your head, a swing-for-the-fences journey through an unimaginable rabbit hole of excess and jaw dropping behavior that stands alone in 2022 and more than earns its stripes.

Paramount Pictures

Storywise it focuses on a few key characters, including wide-eyed Manny Torres (a breakout role for Diego Calva), a young Mexican man with hopes of finding work in movies, and he finds an open door at a wild party thrown by a top executive (Jeff Garlin), one where he promises to deliver an elephant (!) to liven up the proceedings (he wasn’t real, Peta, but you could have fooled me). Literally crashing into this gathering is wannabe actress Nellie LaRoy ( Margot Robbie) who drives her car right into the entrance and then dives into all the completely unhinged and densely populated denizens of this gathering, people who snort what seems like mountains of cocaine, dance til dawn, get naked and debauched, and seem to have no limits. Strolling into it all is Jack Conrad (Brad Pitt), a major silent film star who is first introduced motoring up in the heat of an argument (Pitt using a hilarious Italian accent for this) with soon-to-be-ex wife Ina ( Olivia Wilde in a fun cameo). Manny befriends Nellie, and observing the madness here is Elinor St. John (a terrific Jean Smart), the top gossip columnist who has seen it all and written it all. It is colorful stuff.

Diego Calva, Brad Pitt

We get to follow these characters as Nellie ascends, Jack descends, Manny finds himself in both the right and wrong places and their individual fates take fascinating, somewhat unexpected turns. There are many others we meet. An Anna May Wong inspired performer , the striking Lady Fay Zhu (Li Jun Li) who works other odd jobs to survive in addition to singing ditties like “My Girl’s Pussy” ( a real song from the period); Black jazz trumpeter Sidney Palmer (a great Jovan Adepo) who finds soaring success when his musical talents meet the needs of an industry moving into the sound era; Ruth Adler (Olivia Hamilton who is also a producer on this) a driven rat-a-tat-tat female director with clear visions for her film; her assistant director Max (a hilarious P,J. Byrne) who is clearly heading for a nervous breakdown in one of Babylon’s uproarious signature scenes where Nellie, in a first role, can’t quite hit her marks; and the imposing and psychopathic James McKay (Tobey Maguire as you have never seen him), a shady criminal who makes trouble for Manny and Nellie.

Margot Robbie

Flea (yes, that Flea) plays a studio fixer; Max Minghella is the legendary studio wonder boy Irving Thalberg; Rory Scovel plays The Count who wants to act but survives by providing the drugs everyone needs to operate on these levels of craziness; Eric Roberts as Nellie’s dad; Katherine Waterston as one of Jack’s many wives; and on and on. The Extras number way too many to count, but all seem comforatble in various stages of Orgiastic undress. For a movie made during Covid, the scope and sheer scale on display here is something to behold.

Damien Chazelle

Paramount

This is a film that twists and turns, with Chazelle packing in almost too much, but it seems exactly what this take on early Hollywood required. Remarkably he manages the shifting tones from rollicking comedy (in that scene of endless takes for Nellie), to epic location filming, to roaring parties, to just about anything you can imagine. Towards the end when Maguire comes on (he is also an Executive Producer) that tone dramatically shifts and becomes almost too dark and horrific to merge with all that has come before, but the movie recovers splendidly with a coda set years later at a theatre playing a new movie musical, Singin’ In The Rain, the plot of which famously is set in the same 20’s period when silents gave way to talkies. It is the perfect homage from Chazelle.

Production wise Babylon is top of the line with sharp cinematography from Linus Sandgren, lavish costume design by Mary Zophres, superb Production Design from Florenzia Martin and Anthony Carlino, and a great score from Justin Hurwitz, the Oscar winning composer of La La Land who has collaborated with Chazelle on all his films.

Jean Smart

Robbie is simply sensational here in a go for broke performance that really lands. Smart is chilling, particularly in her brilliantly played key scene with Pitt where she delivers the sad truth about his fading career to Jack. Pitt is dead-on perfect here too, and wonderfully natural in an almost melancholic turn here as a star who knows his time is fleeting, a glimpse once upon a time in another Hollywood. Calva is a major find.

Babylon may not be for everyone. This isn’t cookie cutter stuff, and Chazelle doesn’t hold back. It can be exhausting at times, but as something wholly original and harkening to the spirit of filmmakers willing to take a swing, this is refreshing as hell. Producers are Marc Platt, Matthew Plouffe, and Hamilton. Paramount opens it wide on December 23.



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