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CEOs Are Confident About Growth And Say Tech Will Get Them There

CEOs Are Confident About Growth And Say Tech Will Get Them There

Forbes24-03-2025
Nine in 10 C-suite leaders say they're confident in their company's growth over the next three years, and technology is how they plan to get there. A new study from Forbes Research found that 52% of executives said speeding up digital transformation was one of their top priorities this year. Compared to 2024, this number increased on the annual survey by 30%, writes Janett Haas, SVP of Research & Insights at Forbes.
The vast majority are making some major tech investments, with 93% listing either AI or cybersecurity as one of their top investments for the next year, with more than half boosting these budgets by more than 16%, the survey found. Many companies are getting into the groove of AI technology, advancing from smaller pilot programs to using the technology to do more enterprisewide. The report found that 72% of CxOs are now using AI for predictive analytics and market insights—an increase of 13% over a year ago. Nearly seven in 10 agree that AI agents are transforming the way they can automate, and these agents are already in use by nearly a third of CIOs for customer support and process automation. More than half of CMOs are increasing their spending on AI agents to bring them to the marketing department.
Training employees to use this technology is important, too. Nearly half—48%—said upskilling their existing workforce was a top priority, making it the second-ranked overall priority.
While there's a lot of confidence in technology and long-term growth, the study found quite a bit of trepidation in the short term. In this survey, which was performed before President Donald Trump's economic policies and tariff actions began to roil economic indicators, only 33% of executives had a high degree of confidence in their company's growth in the next year—down from the 45% that felt this way at the beginning of 2024.
Aside from technology, mission and values can be at the heart of what makes a company succeed. Seth Goldman has brewed his values into beverages for years. In 1998, he was cofounder of the former brand Honest Tea, which was acquired by Coca-Cola in 2011 and discontinued in 2022. Months later, Goldman debuted another purpose-centered CPG tea beverage, Just Ice Tea. I talked to him about the business value of mission. An excerpt from our conversation is later in this newsletter.
Federal Reserve Chairman Jerome Powell at a news conference following the Open Market Committee meeting last week.
The stock market didn't get much better last week as President Trump's talk of tariffs continued. He plans a 'Liberation Day' announcement outlining which nations will pay which tariff rates on April 2. Bloomberg reports there are indications that this round of tariffs may not be as widespread as initially believed, with some nations or blocs potentially excluded. Markets edged up slightly last week, closing Friday with the Dow, Nasdaq and S&P 500 each less than a percentage point up. Markets continued to slowly rise Monday morning, reacting to the weekend report.
Citing the uncertainty in the economic picture, the Federal Reserve Open Market Committee decided last week to leave interest rates unchanged—at 4.25% to 4.5%. The Fed did, however, revise some percentages: Its quarterly economic projections. They revised their GDP estimate to 1.7%, down from December's figure of 2.1%, and projected core inflation would end the year at 2.8%, up from the previous forecast of 2.5%. 'Clearly...a good part of it is coming from tariffs,' said Fed Chair Jerome Powell after the announcement.
For his part, Trump believes tariffs are a reason that the Fed should cut interest rates, posting on Truth Social before the interest rate decision, 'The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing.'
Meanwhile, top economists are keeping a close eye on whether Trump's policies will push the country into a recession. Last week, the UCLA Anderson School of Management published its first-ever official 'Recession Watch' as part of an annual economic forecast they've done for 73 years. The report said that if Trump's policies are fully enacted, they 'promise a recession,' but it's 'entirely avoidable' if his policies—including high tariffs and rapid dismantling of the federal government workforce—would be pared back or more gradual. The report warns the administration: 'be careful what you wish for because, if all your wishes come true, you could very well be the author of a deep recession.' Mark Zandi, chief economist for Moody's Analytics, said on a Wednesday CNN interview that it 'feels like we're being pushed into recession' by Trump, calling the risks 'uncomfortably high.'
The Boston Celtics 2024 Championship banner is raised at TD Garden.
One of the NBA's most valuable teams was acquired last week in the biggest U.S. sports franchise deal ever. A group led by investor Bill Chisholm and the private equity firm Sixth Street are buying the Boston Celtics for $6.1 billion. The team was previously owned by a group led by father and son Irving and Wyc Grousbeck, and will transition to new ownership over two stages. Wyc Grousbeck will remain the team's governor through the 2027-28 NBA season. The Grousbecks announced they were putting the team up for sale last summer—weeks after the Celtics took home the 2024 NBA Championship trophy—after acknowledging that the team was losing money. The Grousbecks bought the Celtics in 2002 for $360 million. Forbes' Kerry A. Dolan profiles billionaire Chisholm's fortune. The lead of the group buying the Celtics is the majority owner of private equity firm STG Partners, and has been a 'rabid fan' since attending his first game on his seventh birthday. He told ESPN, 'I bleed green.'
The Celtics' record sale has perked up interest elsewhere, as the business side of the NBA is now talking about expansion. Forbes senior contributor Bryan Toporek writes that in September, NBA Commissioner Adam Silver told reporters there 'was not a lot of discussion' about expansion at the league's board of governors meetings, though sources were reporting that groups were coming together to make expansion bids. At that point, it was reported things were largely on hold because of the Celtics' situation. Toporek writes that in September, a pair of new NBA teams were estimated to bring the league more than $10 billion combined—more than $300 million per team—though those numbers may now be bigger given the Celtics' sale price. Top contenders for expansion teams are Seattle and Las Vegas, Toporek wrote.
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A new survey from SAP shows that executives are embracing AI, but is that embrace too tight? Nearly three-quarters place more confidence in AI for advice than their family and friends. And 44% would override a decision they've already made if AI suggested otherwise.
'Most executive decisions are based on a combination of the data, how they feel and discussions they've had with people they trust,' Jared Coyle, chief AI officer for SAP North America, said in a press release. 'What this data tells us is that AI is part of that trusted inner circle.'
The study indicates that 55% of these executives work at firms where AI-driven insights have replaced or often bypass traditional decision-making processes. More than two-thirds of executives said their entire organization would gain value if additional executives were using AI, and 85% said they have personally benefitted from time saved by using AI.
Just Ice Tea cofounder and CEO Seth Goldman.
Mission and values are important in the business world, and they're central to everything Seth Goldman has done during the last three decades. In 1998, Goldman left investing to start the beverage company Honest Tea with a former business school professor Barry Nalebuff. In 2011, Coca-Cola bought the less sweet, organic and Fair Trade Certified beverage company. Coca-Cola then discontinued the tea line in 2022 (it still produces Honest Kids organic juices), so Goldman started a new value-centered CPG tea brand, Just Ice Tea, later that year. In 2024, Just Ice Tea surpassed $20 million in sales.
I talked to Goldman about creating a successful business based on both customer needs and personal values and how leaders can ensure their mission is at the core of their company. This interview has been edited for length, clarity and continuity. A longer version is available here.
Tell me about some of the values that you brought to Honest Tea. You were looking for a less sweet beverage, but beyond that, every business venture you've done has been steeped in mission and value.
Goldman: The beverage is the medium for the message. Starting with a less sweet drink is, on its own, an intrinsically better option for people. Especially going back to 1998 when we started, when soft drinks were the largest source of added calories in the American diet, being able to bring a product with dramatically less calories in it was a great starting point.
We had some organic ingredients in the beginning. [In] 1999, we brought the first organic drink. We converted everything over to organic around 2007. That's all about helping to reduce the amount of persistent chemicals that end up in our ecosystem and our bodies—organic means no chemical pesticides, chemicals, synthetic chemical fertilizers or herbicides. Then, on top of that, fair trade.
Because we're sourcing ingredients like tea and sugar, we have the opportunity to choose suppliers that are protecting the rights of the workers, both in terms of the wages they're paid but also to uplift those communities by investing back into them. Over the years, we've invested in everything from education to healthcare to infrastructure to help these communities become more economically self-sufficient.
The nice thing about those three approaches is it's great if the consumer embraces it and supports it, but they don't have to. They may just be thirsty and want a great tasting tea. The impact still happens as long as the consumer says, I want the tea, but I'm not going to invest in these things, or I want to invest in these things but I don't want the tea at all. It's all part of the same package.
These enterprises are also about employee empowerment. As part of the business model always is employee stock ownership, stock options, which means that all of our employees have the upside of the success in the business. That's one step towards making employees feel like an owner. The other step is you have to give them empowerment. In order to be empowered, you have to have the information—so transparency in how the business is run and understanding the financial condition of the company. Also, autonomy, the ability to take action. It's not just to feel like an owner. You have to be able to control your destiny. If everyone's just telling you what to do, you don't own it.
And then accountability, meaning if you succeed, then there's great benefits, whether it's a bonus or promotion. And if you don't succeed, there's no bonus, or there may be termination. But whatever it is, there's transparency around it. I don't ever want somebody to be fired and not understand why, and I certainly don't want somebody to get a bonus and not understand why.
How important to you are mission and ethics when it comes to business?
For me, that's the motivation for all this. I enjoy what I'm doing and I like the work, but for me, there's not a motivation just to make money. It's really thinking about: How do we deploy the markets to make a difference in the world and to make people's lives better, whether it's making them healthier, or making the planet better. I believe in doing it through market-based mechanisms. I'm not asking for any subsidies or charity. I'm just taking the challenge of finding ways to create value for consumers, and for these enterprises and for shareholders by trying to infuse values into the way we operate these businesses. And, I should say, also create value for our employees as well.
When you were first getting started with Honest Tea, you started out just with the less sugar, healthier beverage and added more certifications and organic ingredients as you went along. How do you build that kind of ethical portfolio?
We used to have the [first] Honest Tea business plan online. We put in a statement around aspirations for social responsibility. At that time, we had no idea what we were going to be building, but we did put this statement in that we were always going to try to do things right by the environment and the stakeholders—whether they're the employees or the people in the supply chain. That statement really reads through even today, and certainly captured what Honest Tea was about, and it still captures what we're about at Just Ice Tea.
Starting with intention is really important, because it's very hard to retrofit. Seeing people create businesses and say: How do I make this socially responsible? The right time to ask that is not 10 years in. It's in the beginning. We make it clear whenever we're raising capital what we're doing. You don't want to have somebody invest thinking we're going to be out there selling volume at the lowest price, and then they say: You're buying Fair Trade, which costs more. It's a different strategy.
We have to be transparent with our shareholders and our employees about what we stand for. By the way, that's served us well. It's not like we're trying to hide anything. [We're transparent] when we meet with buyers as well. I had a great meeting with a national restaurant chain, and the first thing I showed in my presentation was a sourcing video from Mozambique, where we've been investing in that community. The woman I was meeting with was almost in tears, like: This is beautiful. We want to be part of this.
What advice would you give to a business leader on how to bring their mission and personal values to their business?
The first thing is you've got to do some of your own personal reflection about what are the values that really drive you? What are the values and causes that are going to motivate you, even in a challenging moment, for business? Or if you say there's no financial payoff, if you were launching a nonprofit, what would be the causes that you would want your nonprofit to address?
Obviously that's important for a founder, but it's also important for an employee, too. I can't tell you how many people I've interviewed over the years who'll say: I'm really excited about these causes you have. I care so much about them. And then I'd say: Did you work in any capacity to address them? It doesn't have to be in your for-profit work. In some cases, they say: I worked in a food bank and was trying to make healthier options available, or I work in a community garden.
The work that people do, how they earn their living, is usually where most of their time is spent. And so it's wonderful when what you care about aligns with how you're spending most of your time.
Google announced its largest acquisition ever last week when it bought cloud security platform Wiz in an all-cash deal.
$32 billion: Purchase price for Wiz
50%: Proportion of Fortune 100 companies who are already Wiz customers, according to the company
'Turbocharge improved cloud security and the ability to use multiple clouds': What Google CEO Sundar Pichai said the acquisition will do for the company
There are dark clouds up ahead when it comes to the economy, and it's time to think about how your company will weather any larger storm. Here are some tips to start preparing your crisis management plan.
You may not always make the right choices the first time, and rethinking them is a must. Here's how to turn that rethinking into a competitive advantage.
Hurricane Milton severely damaged the Tampa Bay Devil Rays' home park at Tropicana Field. Where are they going to play this season?
A. Port Charlotte, Florida, where they have spring training
B. ESPN Wide World of Sports at Walt Disney World in Orlando, Florida
C. The New York Yankees' spring training facility in Tampa
D. The Tampa Bay Buccaneers' home, Raymond James Stadium
See if you got it right here.
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Rivian vs. Lucid: Which EV Stock Is Winning in 2025?
Rivian vs. Lucid: Which EV Stock Is Winning in 2025?

Yahoo

time10 minutes ago

  • Yahoo

Rivian vs. Lucid: Which EV Stock Is Winning in 2025?

Key Points Rivian and Lucid both disappointed early investors. Both companies face supply chain issues and intense competition. But one of these EV companies has clearer near-term advantages. 10 stocks we like better than Rivian Automotive › Rivian (NASDAQ: RIVN) and Lucid (NASDAQ: LCID) were both hot electric vehicle (EV) stocks. Rivian went public with an IPO price of $78 on Nov. 10, 2021, and its shares more than doubled to a record closing price of $172.01 just a week later. Lucid went public by merging with a special purpose acquisition company (SPAC) on July 26, 2021. Its shares started trading at $25.24, and more than doubled to a record closing price of $55.52 four months later. Both companies initially attracted a stampede of bulls with their ambitious growth targets, and the buying frenzy in emotion-driven meme stocks amplified their gains. But today, Rivian and Lucid trade at about $13 and $3, respectively. Both stocks fizzled out as they missed their own goals and racked up steep losses. Rising rates also popped their bubbly valuations. But when interest rates declined in 2024, Rivian and Lucid didn't bounce back even as investors pivoted back toward more speculative stocks. That sentiment is still chilly: Rivian's stock has only risen 5% since the beginning of 2025, while Lucid's stock dipped 3%. Should contrarian investors consider buying either of these EV stocks right now? Why did Rivian and Lucid disappoint the market? Rivian sells three EVs: its R1T pickup, its R1S full-size SUV, and an electric delivery van (EDV) for its top investor, Amazon (NASDAQ: AMZN), and other companies. Before it went public, it claimed it could produce 50,000 vehicles in 2022. But in reality, it only produced 24,337 vehicles that year as it grappled with supply chain disruptions. Lucid sells two vehicles: its Air sedan and its new Gravity SUV. In its pre-merger presentation, it claimed it could deliver 20,000 vehicles in 2022. Unfortunately, it only delivered 4,369 vehicles in 2022 as it also struggled with supply chain constraints and production issues. At their record highs, Rivian's market cap hit $153.3 billion, or 92 times its 2022 revenue; while Lucid's market cap reached $91.4 billion, which was 150 times its 2022 revenue. Those sky-high valuations set both stocks up for steep declines when they missed their own rosy forecasts. What happened over the following years? In 2023, Rivian more than doubled its production to 57,232 vehicles as it overcame its supply chain issues. But in 2024, its production dipped to 49,476 vehicles as rising rates chilled the EV market, it faced tougher competition, and it temporarily shut down its main Illinois plant to upgrade its production capabilities. In 2025, it only expects to deliver 40,000 to 46,000 vehicles as it deals with higher tariffs on its raw materials and batteries, ongoing supply chain challenges, and another temporary shutdown to prepare for the launch of its smaller R2 SUV in 2026. Rivian is dealing with a lot of growing pains, but it's still supported by Amazon, Porsche (OTC: POAHY), Saudi Arabian conglomerate Abdul Latif Jameel, and other big investors. It ended its latest quarter with $8.5 billion in liquidity, and it expects the rollout of its smaller R2 SUV to significantly boost its sales and profits as it reaches a broader range of customers. Lucid's deliveries rose to 6,001 vehicles in 2023 and 10,241 vehicles in 2024, but those numbers were dismal compared to its original estimates. 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Why a great company's beat and raise was sold, and what I plan to do with the stock
Why a great company's beat and raise was sold, and what I plan to do with the stock

CNBC

time13 minutes ago

  • CNBC

Why a great company's beat and raise was sold, and what I plan to do with the stock

When is a beat and raise not a beat and raise? That's a question that has frustrated us this earnings season. Case in point: How about Honeywell 's beat and raise last week? Here's a conglomerate splitting into three different companies, which also has a quantum computing business that's probably more advanced than any of the publicly traded quantum entities. Honeywell has an amazing aerospace business that handles the cockpit for most commercial airlines and a host of other accoutrements, including propulsion. It will very much participate in the aerospace boom and is only being held back by how many planes Boeing is allowed to make each month. That number will be going up soon. The automation business is about, among other things, industrial cybersecurity, smart grid, and regulated energy. There are underperforming divisions that if they are not fixed will be sold. The chemicals and materials businesses, including sustainable refrigerants, chemicals needed to make semiconductors and materials for carbon capture. Boring stuff but stuff that tends to be No. 1 in its category. The advanced materials business seems to be the legacy of Allied Chemical, which became Allied Signal, before merging with Honeywell. On last week's earnings call , management updated the timing on the breakup, saying the spinoff of advanced materials will happen in the fourth quarter. The other two are slated for the second half of 2026. At no point will these divisions be static. When there is something that can be done to make each better, it will be done, like the acquisition of Carrier 's global security business for $4.9 billion last year, a great price because Carrier needed to get to investment grade and did so by selling the division to Honeywell. Vimal Kapur, who became Honeywell's CEO in June 2023, takes after Dave Cote, the CEO before Darius Adamczyk. Cote is a legendary figure when it comes to creating value. I give you that history because Honeywell's stock, as of Friday's close, was down 0.7% year to date versus the S & P 500 's gain of 8.6% in 2025. Shares of Honeywell are trading nowhere near where they will trade as the split comes to fruition. Oddly, if it weren't breaking up, I think, at this point, it would trade higher than it does right now after that astonishing collapse last week based on, well, nothing. There was a margin issue in one division that will be fixed. There were two underperforming segments that will most likely go. There will be three companies that will either stand on their own or be bought by private equity, although the scarcity in aerospace company coupled with a pro-merger Federal Trade Commission will probably make that company a takeover target almost immediately. HON 1M mountain Honeywell 1-month performance While I have no idea why Honeywell's stock really collapsed, I can take the conspiratorial view, that some of the hedge funds who were short Kohl's decided to blow me up using a complex method of call buying and shorting. I know it seems phantasmagorical. But, when I started my Charitable Trust, whose holdings make up the CNBC Investing Club portfolio, I played open-handed and took fire quite often — even dealing with some who hinted that's exactly what they were doing. That's a dangerous game. I know what I am doing. I make mistakes, but a company like Honeywell — and Dover and DuPont , for that matter — are not among them. The Club owns all three. Another possible reason: Honeywell's structure could be too hard to understand. There are a huge number of divisions within divisions. You could ChatGPT these all day long and not figure out how they come together. But that's OK. That's what is being rectified by the planned split. But all of them are part of the reshoring and the reindustrialization of America. When you hear President Donald Trump getting $550 billion from the Japanese, Honeywell will get its share, whether it is from plane orders, or industrial buildings, or the myriad chemicals it takes to make things safely. Honeywell's split could be too far off. We call it spin purgatory , a period where nothing happens other than the back off separation of the divisions. Like with Honeywell, we're seeing that happen in DuPont, too, which trades like death. So, did Kenvue , when Johnson & Johnson spun it off. There's all of this red tape about new boards and new procedures that aren't everyday occurrences. No one can explain the length of time it takes. But it takes time and people aren't patient. They really want to wait until they see the whites of their separation eyes. It could also be the lack of real data center exposure. The only industrials that are working are the ones with data center exposure. While building automation within Honeywell has some, it is obviously not enough. What's my conviction based on then? How can I believe in Honeywell's stock, which does a beat and raise and it gets clobbered anyway; or that it has had a previous ones that were also poorly received, too? I give you a few reasons. First, discouragement is not a good quality to base an investment decision on. That's what I did with Emerson . It had two shortfalls, and I decided that its reorganization based around electrification wasn't going to work. I bolted after the second one. My total bad. They got it together even after a hostile bid that they won, and this very difficult to understand ugly duckling became a swan. I felt the same way with Oracle . The company had made a somewhat dispiriting acquisition of medical records company Cerner, and I had no idea what the hell that was about. Then it decided to get into data centers. Not once, but twice, they disappointed in their data center goal. I was livid. So, I kicked it out. It then ran higher. I had isolated two fantastic stock ideas. And, just when they got hammered a second time, I fled, right before they were recognized as great situations by everyone. I can't let that happen again. Curiously, the pain was the greatest after that second miss, when people were truly fed up. This one is the worst and, yet, I would argue it wasn't as bad a miss, if it were a miss at all. Second, people don't believe that Kapur can actually improve each of the three companies that are developing. They fear lost focus. They fear economic cycles. They fear that he is in the "wrong" industries even as private equity firms are routinely in the wrong industries, yet they are fine. Kapur knows how to multitask. Three, there is tremendous fright here in the way Honeywell stock trades, The moves are particularly vicious. They are from peak to trough, tremendously ugly, devoid of any support whatsoever. I wish I had an answer to this one. All I can say is that the decline has to be bought because the overreaction is ridiculous. I know when a stock is down nearly 14 points on a given day, as it was after Thursday's earnings print, it is typically not done going down. The selling from the previous day tends not to be finished. Too many sellers. And, that's what happened. Friday's opening hours were hideous as the sellers from Thursday finished. The stock market typically gives you clues about what a stock will do. When I find a stock breaking down as much as Honeywell, I know the queue to get out is a deep one and the process, if heavy institutional selling, means that a broker usually buys stock to work it by finding clients. If they can't be found you get what you got Thursday and Friday, the brokers just throw out what's left. Hence the Day 2 ugliness. Barring some craziness from the president, Honeywell is recharged and ready to go because, you see, it was a beat and raise. It was real — as will the next move. Bottom line So, what am I doing? Standing pat initially, waiting for my restrictions to run out. Remember, when I mention a stock on television, the Club must wait three days to trade it. Then, I am going to buy some because I am being given a chance to do so, like I did with Oracle and Emerson, and I didn't take them. Were they unique? Who knows? I do know this. I had done the work. I had conviction. Out of pique and frustration, I gave up. I am doing the opposite this time. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

US Futures Climb After Trump Agrees EU Tariff Deal: Markets Wrap
US Futures Climb After Trump Agrees EU Tariff Deal: Markets Wrap

Bloomberg

time13 minutes ago

  • Bloomberg

US Futures Climb After Trump Agrees EU Tariff Deal: Markets Wrap

US equity futures climbed after the US and European Union struck a deal that will see the bloc face 15% tariffs on most exports, averting a potentially damaging trade war. S&P 500 contracts rose 0.4% after the index notched its fifth-straight all-time high on Friday. Asian equity futures were muted as investors braced for a busy week of data including a Federal Reserve meeting and the Aug. 1 deadline for American trade pacts. The euro was slightly higher against the dollar.

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