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Third Point's Daniel Loeb believes the odds are rising that former President Donald Trump will win the U.S. presidency this November over Vice President Kamala Harris, and the influential hedge fund manager is increasing positions that would benefit under a Republican administration and Congress. "We believe that the likelihood of a Republican victory in the White House has increased, which would have a positive impact on certain sectors and the market overall," wrote Loeb in a letter to investors obtained by CNBC. "We believe the proposed 'America First' policy's tariffs will increase domestic manufacturing, infrastructure spending, and prices of certain materials and commodities … a reduction in regulation generally and especially in the activist antitrust stance of the Biden-Harris admi...

Nvidia 's rally to a record intraday high on Thursday briefly helped lift the S & P 500 into uncharted waters, leaving investors to wonder what's next for the artificial intelligence trade. At one point, shares of the chipmaker climbed as much as 3.8% in Thursday's session and at times traded above $140. That marked the first new intraday high for the megacap technology giant since June. Nvidia appeared to benefit from enthusiasm surrounding Taiwan Semiconductor , which jumped almost 10% after topping Wall Street's third-quarter earnings estimates. The S & P 500 broad market index also touched a record high during the day, mostly driven by strong semiconductor and financial stocks. Nvidia's stock, which scored an all-time closing high on Monday, has added 1.6% so far this week. The...

Check out the companies making headlines in after-hours trading: Netflix — The streaming stock popped more than 4% after third-quarter earnings topped expectations. Netflix earned $5.40 per share on $9.83 billion in revenue, while analysts forecast $5.12 a share and $9.77 billion in revenue. The company also said its ad-tier memberships jumped 35% quarter over quarter. Intuitive Surgical — Shares jumped about 5% after the maker of the da Vinci surgical robot posted better-than-expected third-quarter results. Intuitive Surgical earned $1.84 per share on $2.04 billion in revenue. Analysts surveyed by LSEG had estimated earnings of $1.63 per share on $2 billion in revenue. WD-40 — The maintenance product maker's shares dropped more than 4% after a disappointing fiscal fourth-quarter earnings ...

Donald Trump's crypto project, World Liberty Financial, published a 13-page document on Thursday, describing its mission, how tokens can be allocated, and indicating that the Republican presidential nominee and his family could take home 75% of net revenue. In what it calls the "World Liberty Gold Paper," WLF said the Trump family will receive 22.5 billion "$WLFI" tokens, currently valued at $337.5 million, based on the price of 1.5 cents per token at launch this week. Trump, who's in a virtual dead heat with Vice President Kamala Harris as the election reaches its closing stages, has spent months pumping his crypto project, previously branding it as "The DeFiant Ones," a play on DeFi, short for decentralized finance. On Tuesday, the project launched the WLFI token and said in a roadmap th...

Google is replacing Prabhakar Raghavan, the company's search and ads boss, with longtime Google executive Nick Fox.The move was announced by Alphabet CEO Sundar Pichai, who said in a blog post on Thursday that Raghavan will be moving into the role of chief technologist after 12 years of leading teams across the search company. Raghavan will continue to report to Pichai in the new role, the company told CNBC in a statement."Prabhakar has decided it's time to make a big leap in his own career," Pichai wrote in the post. "In this role, he'll partner closely with me and Google leads to provide technical direction and leadership and grow our culture of tech excellence."The move comes as Google continues to restructure its teams to move more quickly in the artificial intelligence arms race, wher...