B
    Brad Smith

    Brad Smith

    General Counsel & Executive Vice President, Legal & Corporate Affairs, Microsoft

  • Amazon building 'modern pharmacy' of the future: Medical Officer

    Since 2020, Amazon (AMZN) has been making efforts to extend its online retail stronghold into the pharmacy world. The company announced that it expects same-day pharmacy delivery services to become available in up to a dozen US cities by the end of the year. Amazon Pharmacy Chief Medical Officer Dr. Vin Gupta joins Wealth! to discuss the move and what the current state of pharmacies lacks for the average consumer. "If your provider can get that prescription in before, say, 5:00, we're able to get that to your door before the end of the evening," Gupta explains. He highlights the importance of this service for consumers with acute conditions, saying, "that time to treatment is critical." The service will not have additional charges for same-day deliveries, "and that's exactly what people expect from Amazon," Gupta says. "We know that 30% of people don't pick up their refills on time, or if ever, because it's an inconvenient experience, especially if you're not feeling well," adding that he believes Amazon's new initiative will make major strides in the average consumer's health. The service will have a different sign-on and portal experience, keeping health data separate and private from users' retail profiles. Gupta explains that it will also offer several different ways to pay with or without insurance, touting a discount savings program and automatically applied manufacturer coupons. He adds that in addition to the home delivery service, a team of clinical pharmacists will be available 24/7 to answer any patient questions. "We're truly building the modern pharmacy that the future needs," he tells Brad Smith and Anjalee Khemlani. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • Social Security to run short by 2035: How to plan for retirement

    Social Security is facing a funding crisis. The entitlement program is expected to run short on funds in 2035, one year later than previously projected, largely due to stronger economic growth. American Enterprise Institute Senior Fellow Andrew Biggs joins Wealth! to explain what this projection means for your retirement planning. Biggs warns that if nothing is done to address the funding issues facing the federal government's largest spending program, benefits would have to be slashed across the board by 17%. "If I were somebody saving for retirement — and I am — I would save a little bit more today because you don't know exactly how the government is going to resolve that funding gap 10 years from now," he tells Yahoo Finance's Brad Smith. On the private side, he adds that with more people utilizing employer-sponsored retirement programs, retiree incomes are at record levels. "The private side of the retirement savings story is a really unrecognized success story," Biggs explains, "But we still have to get on top of Social Security, and that's a political challenge, not so much as a financial or retirement planning one." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • FAA investigates Boeing over 787 Dreamliner inspections

    The Federal Aviation Administration (FAA) has opened a new investigation into Boeing's (BA) inspections of its 787 Dreamliner jets. The company alerted the FAA in April that it may have not completed the safety inspections required of its 787 Dreamliners. The FAA said it is investigating whether Boeing completed the inspections and whether company employees may have falsified aircraft records. The FAA also told Boeing it must create a plan to address the 787 Dreamliner planes that are already in service. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Apple throws hat in AI race, reportedly developing chips

    Apple (AAPL) shares are trading higher after the tech giant is reportedly joining the artificial intelligence chip race. Yahoo Finance's Madison Mills reports more on the story and why this could be good news for investors. Mills points out the changing landscape Apple faces as iPhone sales continue to slump. "Apple can't rely on the iPhone that much longer," she explains, adding that chip development gives investors a more hopeful outlook on the tech giant's future. Competitors like Meta (META) and Microsoft (MSFT) already use their own chips to fuel artificial intelligence initiatives in their data centers. While Apple may be viewed as late to the game on this front, Mills stresses that its new chip development could bolster the company as a serious competitor to major chip makers like Nvidia (NVDA). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Disney+, Hulu streaming services reach profitability for first time

    Disney (DIS) shares are under pressure following mixed second quarter results. Yahoo Finance's Alexandra Canal joins Morning Brief to break down the entertainment giant's latest earnings report. The company's direct-to-consumer entertainment segment, including Disney+ and Hulu, reached profitability for the first time, partly attributed to CEO Bob Iger's turnaround efforts. The company also announced it expects its total direct-to-consumer segment to be profitable by the fourth quarter, pointing to an upcoming crackdown on password sharing that may drive subscriptions. However, the parks and cruise businesses are slowing, and the company softened its third quarter guidance as consumer spending remains relatively low. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Fed may cut rates twice this year, starting September: Strategist

    Wall Street analysts estimate the Fed could cut rates in September following April's weaker-than-expected jobs report. CFRA Research Chief Investment Strategist Sam Stovall joins The Morning Brief to discuss rate cuts during an election year. Stovall believes the Fed could cut rates twice this year, first in September and then again in December. He explains that every presidential election year since 1992 — except 2012 — saw a rate hike or cut take place, adding that this election year should be no exception. He expects the Fed to "let us know that they are apolitical and do what they think is right for the economy" during this upcoming election season. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Warren Buffett on Apple, AI, and why he ditched Paramount

    During Berkshire Hathaway's (BRK-A, BRK-B) annual meeting, Chairman and CEO Warren Buffett discussed the top market players and current trends the investment firm is closely monitoring. Yahoo Finance's Seana Smith breaks down three key takeaways from the meeting. Buffett was bullish on Apple (AAPL), claiming that the tech giant will likely remain the top holding by the end of the year. However, the CEO expressed serious concern about artificial intelligence, comparing it to the development of a nuclear weapon and stressing some of the dangers the technology poses. The investment firm also announced it no longer has a stake in Paramount (PARA), and Buffett took responsibility for the investment that lost the company "quite a bit of money." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • These three things released bond market 'pressure': Strategist

    Stocks are on the rise as bond yields slump following the April jobs report. Morgan Stanley Investment Management Co-Head of Broad Markets Fixed Income Vishal Khanduja joins Morning Brief to break down what the weaker-than-expected report means for the economy. April saw an unexpected jump in unemployment as hiring and wage growth both slowed. Khanduja notes that following the Fed's decision to leave rates unchanged, the bond market is at a point "where it releases a lot of that pressure that was building up." Khanduja says there were three things that happened this week to help relieve that pressure: the US Treasury's quarterly refunding announcement, a more "dovish FOMC," and the cooler April employment report. He tells Brad Smith and Akiko Fujita that two to three more reports like April's could guide the Fed's decision to move toward cuts. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Apple revenue is an 'iPhone plus services story': Analyst

    Apple (AAPL) shares are climbing after the tech giant announced the authorization of a $110 billion share buyback program. Oppenheimer Senior Analyst of Emerging Technologies and Services Martin Yang tells Brad Smith and Akiko Fujita that despite weak iPhone sales, Apple is on track to "enter into a stronger iPhone cycle with accelerating earnings growth." He also highlights the increasing revenue generated by Apple services, calling this "not only an iPhone story, but an iPhone plus services story." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • How donating can get you closer to your wealth goals

    In 2023, individuals donated over $319 billion, according to Donorbox. Donating can benefit both a good cause and consumers' wallets with Daffy, a financial platform where Americans can invest their money, watch it grow, and donate it. Daffy Co-Founder and CEO Adam Nash joins Wealth! to explain how Daffy helps its users meet their financial goals and remove stress from the donation process. "There are causes and organizations worth supporting, and so what we're seeing from the younger generation is a much more active interest in making giving a part of their life," Nash explains. He adds that the platform is designed to help its users donate in tax-efficient ways, ultimately allowing them to contribute more to their organizations of choice. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • What are chips and why are they so important?

    Chip stocks are on the rise, making up nearly 10% of the S&P 500 (^GSPC) and accounting for nearly half of this year's gains. Yahoo Finance's Akiko Fujita breaks down why semiconductors are so important. "They are a critical component in almost everything that we use. So any news, any shortages will trickle across industries well beyond semis," Fujita explains. Chips can be used in devices ranging from smartphones to automobiles, and the United States continues to lead in research and development. Most notably, semiconductor manufacturing is rising to meet the demands of the artificial intelligence boom. In just the last year, global chip sales came in over $500 billion and are expected to hit a trillion dollars by the end of the decade, according to McKinsey. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • TaylorMade CEO on historic partnership with Tiger Woods

    TaylorMade Golf Company has partnered with Tiger Woods to release a new line of apparel and accessories called "Sun Day Red." Brad Smith speaks with TaylorMade Golf CEO David Abeles about the company's collaboration with the golf icon. Abeles emphasizes Woods' involvement in the line, explaining that "from day one, we worked on every element of this brand...Tiger's insights into product detail and design was critically important to us." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • Could a 4-day workweek increase productivity?

    According to a February 2023 Future Forum global survey, 42% of workers feel burned out. Employers are increasingly seeking opportunities to prioritize their employees' work-life balance. 4 Day Week Global Research Director Alex Pang joins Wealth! to discuss whether a four-day workweek could be the solution. Pang explains that a reduced workweek benefits both the employer and the employee, as productivity and retention rise while overall burnout decreases. "What we're finding is there are ways of using technology better, of making improvements in things like meetings...that allow you to create time that you can give back to people while also making work time itself more productive and effective," he tells Brad Smith. Pang also notes that a four-day workweek would not affect employee pay, allowing them to receive the same salary under reduced working hours. "The idea is that you're doing the same work," he explains, adding that it also serves as "a great incentive" to find efficiencies and innovate. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • Amazon will emerge as 'cleaner name' among Mag 7: Analyst

    Amazon (AMZN) shares rose after the tech giant delivered strong first quarter earnings largely driven by Prime Video ad revenue and its cloud computing business, Amazon Web Services (AWS). However, the tech giant's retail and e-commerce segments lagged behind, as the company's second quarter outlook fell short of Wall Street expectations. Bernstein Internet Equity Research Analyst Mark Shmulik breaks down Amazon's earnings and how the company's generative AI investments are driving significant growth despite weak retail guidance. "When the dust settles on earnings, Amazon's gonna emerge as the cleaner name amongst the 'Mag Seven,'" he tells Brad Smith, adding that its investments in AWS and artificial intelligence speak to "the leverage in the business." For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Melanie Riehl

  • Amazon cloud revenue and AI push offset weak Q2 retail outlook

    Amazon (AMZN) stock rose in extended-hours trading after topping Wall Street estimates in its first quarter earnings, largely due to the revenue generated by the company's cloud computing business, Amazon Web Services (AWS). On the retail side, Amazon's second quarter outlook fell below expectations. The company projected its net sales to land between $144 billion and $149 billion, falling short of the Street's estimate of $150 billion. Despite the projected dip in consumer spending, Brad Smith and Seana Smith emphasize the growth of AWS and AI innovations that offset Amazon's lackluster e-commerce and retail performance. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl

  • Bitcoin halving: Explained

    The price of Bitcoin (BTC-USD) has no shortage of catalysts – from the debate around regulation, to whether it’s a security or a commodity – and whether or not it really is digital gold. But one event is undeniable in its impact on the world’s premier digital asset – the halving. Once every four years the reward for mining the biggest crypto currency is cut in half. This happens in order to reduce the amount of coins in circulation. How is it calculated? (00:00:27) It happens very specifically every time 210,000 blocks are mined. We can calculate the date fairly precisely with the knowledge that the average block time for bitcoin mining is around 10 minutes. That calculation gets us very close to 4 years. Why is it needed? (00:00:43) Because there is only so much bitcoin available – 21 million to be exact – and like any other cryptocurrency it needs to remain scarce to hold its value. How often does this happen? (00:00:53) The halving takes place every four years. The first in 2012 decreased the award for creating a new block from 50 BTC to 25 BTC. The second halving in 2016 lowered the reward further – from 25 BTC to 12.5 BTC. The last time out was in 2020, and you guessed it, we halved again – the block award dropping to 6.25 BTC. There nothing wrong with your math – this time around the block reward miners receive will be halved to 3.125 BTC. What happens to the price? (00:01:27) The moves could be significant; in the past we’ve seen Bitcoin rise after a halving event, though there’s no certainty this will always be the outcome. Outcome for the miners (00:01:38) The rewards they’re generating will of course diminish, and that’s not great for an industry with a very high cost burden. Keep an eye on how the big publicly listed miners, the likes of Marathon and Riot, manage this event. As ever, talk of consolidation will no doubt do the rounds. No matter how you look at it, the event will have serious consequences for all crypto stakeholders, and we’ll be across all the developments here at Yahoo Finance.

  • Microsoft hires Sam Altman: Top things you need to know

    Former OpenAI CEO Sam Altman joined Microsoft (MSFT) on Monday morning, just days after he was ousted by OpenAI's board. So what does this move mean for investors, the future of AI technology, OpenAI, and Microsoft? Yahoo Finance spoke to experts across the industry to break down the top things you need to know about the move. 1. Outlook for Microsoft Yahoo Finance's Seana Smith and Brad Smith broke down the Altman hire and what it means for company outlook. Seana Smith said, "The ability of Satya Nadella, the CEO there, to court Sam Altman in such a timely manner, I think largely viewed as a huge win at this point." 2. Microsoft's AI technology RBC Capital Markets Software Equity Analyst Rishi Jaluria believes the move is "a huge coup for Microsoft." Jaluria added, "I think the pace at which Microsoft continues to develop their own tech that will probably be competitive with OpenAI, I think that will accelerate." 3. Microsoft's 'carte blanche' to IP NYU Professor of Technology, Operations, and Statistics Vasant Dhar sees the move as Microsoft having "carte blanche" on access to OpenAI's intellectual property through its development team behind its artificial intelligence model. Dhar explained, "Altman is going to go there. [OpenAI President Greg] Brockman is going to go there. I bet a bunch of employees will go there because this is an area where relationships really matter ... expect to see a fair amount of IP just sort of walk out and walk into Microsoft." 4. Altman's leadership style Macquarie Lead Equity Analyst Fred Havemeyer thinks that "the team building aspect is one of the most critical things to discuss." Havemeyer explained, "One of the reasons that the engineers and teams at OpenAI appear so ready to join him is from what we've been hearing, the general loyalty that he inspires among the teams that he's been building ... to produce the best technology possible."

  • Lindsey Vonn on brand partnerships, equity in companies

    Olympic Gold Medalist Lindsey Vonn sits down with Yahoo Finance's Brad Smith as part of Yahoo Finance Invest on November 7 to discuss her investing strategy, how she chooses brand partnerships, the balance of cash vs. equity deals, and so much more. Here are some of the highlights. Balancing cash vs. equity (00:00:06) "I always weigh the balance of cash and equity. I think in my position I always have to veer toward some cash," Vonn said. "I don't have the luxury of having guaranteed multi-million dollar contracts, so I always have to make sure I'm covering myself first, and then take the calculated risk of how much equity I take with a company." Choosing brand partnerships (00:00:41) Regarding how the Olympian chooses brand partnerships, Vonn explained, "The relationships that I've had in my ski racing career, sponsored by Red Bull and Rolex, I've been with them for almost 20 years ... that's been how I've been able to sustain my brand is by building those really long-term relationships."

  • Disney, Uber, Rivian: Earnings to watch this week

    Several big names will be reporting earnings this week, including Disney (DIS), Uber (UBER), Rivian (RIVN), and Warner Bros. Discovery (WBD). Yahoo Finance spoke to experts across the industry to get their insight on this week's earnings and what investors should be keeping an eye on this week. With Disney set to report fiscal fourth-quarter earnings on Wednesday, November 8, Morning Consult Media and Entertainment Analyst Kevin Tran provided his thoughts on ESPN, Hulu, and the hiring of Hugh Johnston as the next Disney CFO. Tran said, "We're really seeing companies like Disney put an increased emphasis on being able to be profitable as well as not overspend on content ... the acquisition of the Hulu stake is emblematic of the overall push of Disney to unify its streaming offerings." Citi Managing Director Jason Bazinet thinks that Johnston was a "good hire for Disney," but the company has several challenges ahead. Bazinet explained, "I would say that Disney has had a pretty muddled message in terms of what its ambitions are on the streaming side ... so what I'm begging the company to do is be crystal clear about what its ambitions are, and I strongly believe that they should go try and become a paid TV substitute." Video highlights: 00:00:03 - Yahoo Finance's Brad Smith 00:00:15 - Morning Consult Media and Entertainment Analyst Kevin Tran 00:00:52 - Citi Managing Director Jason Bazinet

  • 10-Year Treasury yield tops 5%: What investors need to know

    The U.S. 10-year Treasury yield (^TNX) briefly moved above 5% this week, and it has recently been hovering around the 5% mark. What does this mean for investors, and should they be concerned about stock valuations? Yahoo Finance spoke to experts, analysts, and reporters across the industry regarding stock market risks related to rising Treasury yields and the U.S. dollar. Yahoo Finance Live's Brad Smith and Seana Smith discussed the notes of several Wall Street analysts, including Morgan Stanley's Mike Wilson and RBC Capital Markets' Lori Calvasina. Seana Smith explained that they are "breaking all this down, what exactly this means for investors, the issues that investors have right now with the market when it comes to the yields that we've seen, the massive rise." Commonwealth Financial Network Chief Investment Officer Brad McMillan explained why he is not worried about the rising Treasury yield just yet. McMillan said, "It's a big round number, so people are going to get scared ... when you look at valuations, almost all of the S&P 500 stocks are still fairly reasonably valued ... when you look at that from a yield standpoint, the risk isn't nearly as great as people might think." Gradient Investments Senior Portfolio Manager Jeremy Bryan broke down the current state of the bond market. Bryan explained, "If we start to see stabilization in rates, I think you've got a good stage for a rally in Q4." Yahoo Finance’s Jared Blikre analyzed the current trends in the U.S. Treasury yields and what that means for the state of the economy. Blikre said, "As you can see, the yield curve has been shifting quite a bit higher, and although we are off of those highs today, still quite short of anything approaching relief." Yahoo Finance's Ines Ferré discussed the impact that rising Treasury yields could have on the markets. Ferré explained, "We're really also talking about the cost of borrowing ... that's a concern as it goes so high that the borrowing costs go higher as well."