Courtroom sketches of Cole Tomas Allen. Courtesy: Dana Verkouteren Cole Tomas Allen on Thursday waived his right to challenge his detention in jail — for now — on charges of trying to assassinate President Donald Trump at the White House Correspondents' Association dinner last weekend. Allen's waiver was a reversal of the defense team's intention to challenge his detention, which was expressed in ...
Courtroom sketches of Cole Tomas Allen. Courtesy: Dana Verkouteren Cole Tomas Allen on Thursday waived his right to challenge his detention in jail — for now — on charges of trying to assassinate President Donald Trump at the White House Correspondents' Association dinner last weekend. Allen's waiver was a reversal of the defense team's intention to challenge his detention, which was expressed in a court filing on Wednesday night. "He's conceding detention at this time," Allen's lawyer, Tezira Abe, told Magistrate Judge Moxila Upadhyaya, during a hearing Thursday in U.S. District Court in the District of Columbia. U.S. Attorney Jeanine Pirro's office in a court filing on Wednesday had urged Upadhyaya to keep the 31-year-old California resident locked up without bond pending trial. This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
The long-delayed film has fans dancing in the aisles and has taken more than $200m at the box office On Wednesday evening, revelers gathered in the lobby of New York’s Regal Union Square movie theater before filing into the night’s slate of Michael screenings. The King of Pop has become box office royalty after the film moonwalked into the biggest opening weekend for a biopic ever (even surpassing...
The long-delayed film has fans dancing in the aisles and has taken more than $200m at the box office On Wednesday evening, revelers gathered in the lobby of New York’s Regal Union Square movie theater before filing into the night’s slate of Michael screenings. The King of Pop has become box office royalty after the film moonwalked into the biggest opening weekend for a biopic ever (even surpassing 2023’s Oppenheimer). Now, its success has resulted in even more attention worthy of Michael Jackson ’s immense star-power, with videos circulating online of fans dancing in the aisles at screenings and a sequel likely in the works . However, much like Jackson’s current polarizing force in culture, it’s all a tale of contrasts . The movie’s Rotten Tomatoes critics’ score of a paltry 37%, compared with a 97% audience score is a rare chasm. The Guardian’s Peter Bradshaw was one of many who lambasted the Antoine Fuqua-directed film, saying it was “bland, bowdlerised and bad”, as well as “ frustratingly shallow”. Continue reading...
Jana Partners is renewing its push for Markel Group Inc. to divest its venture arm while pushing the insurer to also buy back $2 billion of its shares to boost the stock. “The current structure produces sub-peer shareholder returns, creates no unique value and warrants a discounted multiple,” Jana Managing Partner Scott Ostfeld and Managing Director Jimmy Ganas said in a letter to Markel’s board T...
Jana Partners is renewing its push for Markel Group Inc. to divest its venture arm while pushing the insurer to also buy back $2 billion of its shares to boost the stock. “The current structure produces sub-peer shareholder returns, creates no unique value and warrants a discounted multiple,” Jana Managing Partner Scott Ostfeld and Managing Director Jimmy Ganas said in a letter to Markel’s board Thursday reviewed by Bloomberg News. “The need for change is clear.” The push comes nearly a year and a half after Jana disclosed a stake in Markel and called on the Glen Allen, Virginia-based insurer to unload its private investments business, Markel Ventures. Neither Jana nor Markel immediately responded to a request for comment. While Jana lauded the “dramatic improvement” in the company’s insurance operations under new leadership, the activist investor argues that its “ongoing poor performance” can no longer be attributed to that unit dragging things down. Jana also said the market fully understands and has clearly rejected Markel’s business model of combining insurance with the ventures arm, which has backed health-care , construction and a broad range of other types of businesses through the years. “Markel’s strategy has also failed to deliver promised diversification benefits,” Ostfeld and Ganas said. “Specialty insurers and industrial holding companies that stayed focused (or elected to spin off non-core assets) have outperformed Markel.” Markel’s core business is specialty insurance, underwriting bespoke policies in the US and abroad for everything from horses to probate bonds . The company’s stock fell about 4% this week, after reporting earnings-per-share and sales below estimates. The stock was down about 1% to $1,741.40 at 10:48 a.m. in New York trading Thursday, giving the company a market value of about $21.8 billion. The stock is down about 4.3% in the past year. Jana called on the company to pursue a “a large-scale tender” to “retire its shares in parallel w...
Seagate (NASDAQ: STX) is sold out. Management confirmed that nearline capacity is almost fully allocated through calendar 2027, a level of forward visibility that is rare for a hardware company. AI infrastructure buildout has consumed supply faster than the industry can respond, and Seagate's Mozaic HAMR (Heat-Assisted Magnetic Recording) technology is the primary reason hyperscalers are locking i...
Seagate (NASDAQ: STX) is sold out. Management confirmed that nearline capacity is almost fully allocated through calendar 2027, a level of forward visibility that is rare for a hardware company. AI infrastructure buildout has consumed supply faster than the industry can respond, and Seagate's Mozaic HAMR (Heat-Assisted Magnetic Recording) technology is the primary reason hyperscalers are locking in multi-year contracts. That demand lock-in is now flowing directly into financials: Q4 2026 (June f
Vertigo3d Retail trading activity is increasingly concentrating in leveraged semiconductor exchange traded funds, signaling a sharp rise in speculative positioning tied to the chip sector’s near-term outlook. Recent data from The Kobeissi Letter shows that combined daily volume in the Direxion
Vertigo3d Retail trading activity is increasingly concentrating in leveraged semiconductor exchange traded funds, signaling a sharp rise in speculative positioning tied to the chip sector’s near-term outlook. Recent data from The Kobeissi Letter shows that combined daily volume in the Direxion
Wall Street is divided on Microsoft (NASDAQ:MSFT) after the company’s fiscal Q3 2026 report. Barclays trimmed its price target to $545 from $600 while keeping an Overweight rating, and Wells Fargo raised its price target to $625 from $615, also keeping Overweight. Both firms see the same Azure acceleration and artificial intelligence (AI) tailwinds, yet ... Wall Street Splits on Microsoft After Ea...
Wall Street is divided on Microsoft (NASDAQ:MSFT) after the company’s fiscal Q3 2026 report. Barclays trimmed its price target to $545 from $600 while keeping an Overweight rating, and Wells Fargo raised its price target to $625 from $615, also keeping Overweight. Both firms see the same Azure acceleration and artificial intelligence (AI) tailwinds, yet ... Wall Street Splits on Microsoft After Earnings: Is the Azure Acceleration Worth the CapEx?
Dougal Waters Deutsche Bank strategists are challenging one of Wall Street’s most enduring seasonal rules, arguing that the popular “Sell in May and go away” approach has looked better in hindsight than it has performed as a practical investment strategy. In a
Dougal Waters Deutsche Bank strategists are challenging one of Wall Street’s most enduring seasonal rules, arguing that the popular “Sell in May and go away” approach has looked better in hindsight than it has performed as a practical investment strategy. In a
Wells Fargo Chairman & CEO Charlie Scharf says the independence of the Federal Reserve is "critically important" to the US financial system, even as presidents weigh in on policy. In this wide-ranging interview, Scharf discusses the state of US economy amid tensions with Iran, as well as the risks and opportunities in private credit and AI. Scharf is on this week's episode of "The David Rubenstein...
Wells Fargo Chairman & CEO Charlie Scharf says the independence of the Federal Reserve is "critically important" to the US financial system, even as presidents weigh in on policy. In this wide-ranging interview, Scharf discusses the state of US economy amid tensions with Iran, as well as the risks and opportunities in private credit and AI. Scharf is on this week's episode of "The David Rubenstein Show: Peer to Peer Conversations." (Source: Bloomberg)
Richard Drury Individual investors’ allocation to equities neared historical extremes, a chart shared by Guilherme Tavares, CEO of i3 Invest, showed in a post on X. The chart showed allocations, measured as a percentage distance from an exponential growth trendline, rising toward the upper
Richard Drury Individual investors’ allocation to equities neared historical extremes, a chart shared by Guilherme Tavares, CEO of i3 Invest, showed in a post on X. The chart showed allocations, measured as a percentage distance from an exponential growth trendline, rising toward the upper