CNBC News

U.S. regulators cleared the first generic competitor to Mylan’s EpiPen, after a yearslong delay that many said contributed to the emergency allergy drug’s rapid rise in price. Teva Pharmaceuticals received Food and Drug Administration approval for generic versions of both the EpiPen and EpiPen Jr, the agency said in a statement Thursday. The products are the first competitors cleared by the FDA that are direct generic copies of the EpiPen and could be substituted for…

What does a beer company do to hedge against slowing growth in its main business? In the case of the parent company of Corona, the answer is to invest heavily in the marijuana industry. Constellation Brands, which also makes Robert Mondavi wine and Svedka vodka, announced on Wednesday that it had invested $4 billion in Canopy Growth, a publicly traded Canadian cannabis producer. The deal comes nearly 10 months after Constellation first took a 10…

Jeremy Siegel, a longtime bull who recently turned cautious, told CNBC on Thursday that China is the main driver for the stock market heading into the end of the year. The Wharton School finance professor painted a bigger downside risk than an upside gain in regard to an all-out U.S.-China trade war versus an agreement. “If we could get resolution with China, this market could pop 10 percent,” Siegel said on “Squawk on the Street.”…

Semiconductor company Nvidia is scheduled to report quarterly earnings after the bell Thursday. And after introducing its eighth-generation graphics chip on Monday, the stock is up more than 32 percent year to date. Josh Brown of Ritholtz Wealth Management, a CNBC “Fast Money Halftime Report” trader, said investors will pay close attention to the chipmaker’s guidance in its second-quarter earnings release. “Hopefully they strike the right balance and shareholders hear what they want to hear,”…

A medication used to treat hypothyroidism has been voluntarily recalled due to quality concerns. Westminster Pharmaceuticals, LLC has instructed wholesalers to stop distributing specific products labeled “Levothyroxine and Liothyronine (Thyroid Tablets, USP),” according to an August 9 release. Levothyroxine and Liothyronine are synthetic hormones contained in the thyroid tablets. The voluntary national recall alert says there have been no “adverse events” associated with the recalled products. It says patients should continue taking the drugs. More…

The Economist Magazine does a particularly good job in reviewing global events on a country-by-country basis. A look at any issue in recent weeks reveals a world in turmoil. No region seems to be stable. The United States in comparison appears not only to be safe but also expanding economically. Its currency is solid and the country seems to be prevailing in its trade and foreign confrontations. For savers and investors keeping funds in dollars,…

A CNBC story that came out last week, titled “With this strategy, ‘You can’t avoid becoming a millionaire’,” caused quite the stir among readers. In the article, Michael Taylor, author of personal finance tome “The Financial Rules for New College Graduates,” said that anyone could retire as a millionaire — if they invested just $5 a day for 50 years. “The hurdle to being a guaranteed millionaire is relatively small, provided you start early,” he…

Where’s Waldo? A robot can now find him. That’s thanks to artificial intelligence built by the Nashville, Tennessee-based ad agency Redpepper, which used Google’s auto machine learning tools to build the bot. Watch a video of the robot, called “There’s Waldo,” finding Waldo, embedded below. The YouTube video has more than 200,000 views, and a tweet with the video, more than 4 million. AI WALDO TWEET For Redpepper, the project is a demonstration. “‘There’s Waldo’…

After several years of rich home price gains, the market appears to have found a limit to what people can afford. Sellers are finally responding by increasingly lowering prices. Approximately 14 percent of all listings in June had seen a price cut, that’s up from a recent low of 11.7 percent at the end of 2016, according to a new report from Zillow. In addition, home price growth is slowing in nearly half of the…

Tesla is on track to clinch a steady weekly Model 3 production rate above 5,000 cars per week, according to Evercore ISI, which told clients that its prior estimates for the second half could be as much as 7 percent too low following a tour of the company’s facilities. “Tesla seems well on the way to achieving a steady weekly production rate of 5,000 to 6,000 units per week,” analyst George Galliers wrote Thursday. “We…