Reported 3 days ago
Former President Trump has pardoned Changpeng Zhao, the co-founder and former CEO of Binance, who was convicted in 2024 for violating US anti-money laundering laws. This decision is seen as part of Trump's support for Zhao amid claims of political persecution related to cryptocurrency, potentially allowing Binance to resume operations in the US after a previous ban.
Source: YAHOO
Reported 3 days ago
In September, existing home sales rose by 1.5% to an annual rate of 4.06 million, attributed to decreasing mortgage rates and an increase in available inventory. With rates dropping from 6.7% to 6.3%, more buyers were engaged, although first-time homebuyers represented only 30% of the market, indicating ongoing challenges. The inventory increased by 14% year-over-year, providing more options for buyers, particularly in the high-end market.
Source: YAHOO
Reported 3 days ago
Quantum computing is gaining traction in Silicon Valley, with major companies like Amazon, Google, and Microsoft developing their own quantum chips. Supported by potential investments from the Trump administration, quantum computers promise lightning-fast calculations that could revolutionize fields such as medicine and material science. Unlike classical computers that use bits, quantum computers leverage qubits, which exist in multiple states simultaneously, enabling superior processing power. However, challenges such as quantum errors still hinder their practical applications, meaning they are not yet ready to replace traditional computers for everyday tasks.
Source: YAHOO
Reported 3 days ago
Intel's stock surged by 7% after reporting third quarter earnings that exceeded analyst expectations, with revenue of $13.7 billion and adjusted earnings per share of $0.23. The CEO highlighted that AI is driving demand for their chips, contributing to a more favorable outlook despite a struggling manufacturing segment. Although the company anticipates lower fourth quarter earnings, significant investments from the US government and Nvidia indicate confidence in Intel's potential for recovery under new leadership.
Source: YAHOO
Reported 3 days ago
In a recent market update, Super Micro reported anticipated revenue shortfalls ahead of its earnings release, causing its shares to dip slightly. IBM also faced a decline in its stock due to disappointing software sales, raising concerns about slow growth in its key business areas. In contrast, quantum computing stocks gained attention after news that the Trump administration is considering investing in the sector, marking a potential boost for the industry.
Source: YAHOO
Reported 3 days ago
Citigroup's board has appointed CEO Jane Fraser as chair, marking a significant consolidation of her power, alongside a $25 million bonus in restricted stock. This change reverses a 20-year separation of the roles and reflects a trend among major banks to align CEO and board leadership. Fraser, who aims to simplify and streamline Citi into five core divisions, has seen the bank's stock rise 46% since she became CEO in 2021, despite ongoing challenges to meet profitability targets.
Source: YAHOO
Reported 3 days ago
U.S. stock indices rose on Thursday as oil prices surged nearly 6% following sanctions on Russian energy companies, and investors assessed mixed earnings from Tesla and IBM. The Nasdaq led gains with a 0.7% increase, while the S&P 500 grew by 0.4%. American Airlines saw a notable rise in its stock after better-than-expected earnings guidance, whereas T-Mobile's shares fell despite strong subscriber growth. Anticipation for upcoming results from Intel also added to the market dynamics as U.S.-China trade talks loom.
Source: YAHOO
Reported 3 days ago
Tesla reported disappointing Q3 earnings, with operating profit down 40% from the previous year, despite announcing advancements in its Robotaxi plans. CEO Elon Musk emphasized cautious deployment of these autonomous vehicles, targeting major cities for testing by year-end. Consequently, Tesla's stock fell over 5% in early trading. The company's revenue was stronger than expected, but lower emissions credit revenue and tariffs impacted profitability, raising concerns about future performance after the expiration of federal EV tax credits.
Source: YAHOO
Reported 3 days ago
T-Mobile exceeded expectations by adding over 1 million new monthly bill-paying subscribers in the third quarter, prompting the company to raise its annual forecast. This growth is attributed to a significant influx of customers switching from competitors during the latest iPhone release period. Despite the positive subscriber news, T-Mobile's shares dipped slightly after the company raised its capital expense forecast.
Source: YAHOO
Reported 3 days ago
Oil prices surged following new US sanctions on Russian oil producers, contributing to increased pressure on the US bond market as the government shutdown continues. With limited economic data available, investors are reacting to rising oil prices, leading to a close correlation between oil and bond yields. Experts suggest that without economic indicators, the bond market is in a state of uncertainty, and future movements will likely hinge on labor market data.
Source: YAHOO
Reported 3 days ago
Recent analyst updates from Wall Street highlight key stock movements, with LendingClub upgraded to Overweight by JPMorgan, reflecting optimism for its growth potential, and Enphase Energy downgraded to Neutral by Mizuho due to concerns over reduced solar demand and market share. Other notable upgrades include Core Scientific and CME Group, while companies like Hologic and Arcturus Therapeutics faced downgrades amid acquisition deals and disappointing trial results.
Source: YAHOO
Reported 3 days ago
Lumen Technologies and Palantir Technologies have formed a multi-year partnership to enhance the deployment of artificial intelligence in businesses. Lumen will invest over $200 million in Palantir's software, aiming to integrate Palantir's AI platform with Lumen's networking solutions. This collaboration is expected to facilitate the transformation of enterprises by combining advanced AI capabilities with the necessary high-performance infrastructure.
Source: YAHOO
Reported 3 days ago
During this earnings season, Tesla's stock faced a decline due to an earnings miss, reporting adjusted earnings of $0.50 per share instead of the anticipated $0.54. Meanwhile, American Airlines surprised investors with a smaller-than-expected loss, boosting its stock by 4%. Other notable reports included an earnings beat by Lam Research, while IBM and Hasbro saw their stocks drop despite some positive quarterly results. The earnings reports underline mixed performances across various sectors as analysts adjust forecasts for the S&P 500.
Source: YAHOO
Reported 3 days ago
Tesla's shares fell by 5% after the company's quarterly profits missed analyst expectations, despite a return to revenue growth. The stock may break below a bullish pennant pattern, indicating a possible short-term decline. Key support levels to watch are $360, $292, and $267, while resistance may arise between $465 and $489 during potential recoveries.
Source: YAHOO
Reported 3 days ago
Quantum computing stocks experienced significant gains following reports that the Trump administration is in discussions to take equity stakes in several companies, including IonQ, Rigetti Computing, D-Wave, and Quantum Computing, in exchange for federal funding. These companies saw their stock prices rise sharply, with IonQ increasing by 9% and D-Wave by 18%. This potential government involvement comes after Trump's past support for quantum research and aims to boost the sector amidst its ongoing development challenges.
Source: YAHOO
Reported 3 days ago
Super Micro Computer has revised its first-quarter revenue forecast for fiscal year 2026 to $5 billion from an earlier estimate of $6 to $7 billion, attributing the change to delays in customer delivery schedules for significant AI contracts. The company's shares dropped about 7% following the announcement, although it maintained its full-year revenue outlook of at least $33 billion due to strong demand for its AI offerings. Super Micro reported gaining over $12 billion in new business with delivery expected in the second quarter of fiscal 2026, as tech giants are investing heavily in AI infrastructure.
Source: YAHOO
Reported 3 days ago
Oil prices jumped by 5% on Thursday, marking the largest increase since June, following the Trump administration's announcement of sanctions against major Russian energy companies, Rosneft and Lukoil, to help resolve the Ukraine conflict. West Texas Intermediate futures surpassed $61 per barrel, while Brent futures approached $65, amidst concerns over enforcement of these sanctions and a forecasted supply glut into 2026, compounded by increased OPEC production.
Source: YAHOO
Reported 3 days ago
Dover has increased its 2025 adjusted profit outlook to between $9.50 and $9.60 per share, owing to strong demand for its industrial equipment, particularly linked to artificial intelligence infrastructure. The company's shares rose 2.5% in premarket trading following this announcement. Dover's recent performance showed a 15% increase in adjusted profit for the third quarter, reaching $2.62 per share, exceeding analysts' expectations.
Source: YAHOO
Reported 3 days ago
Google has signed its first corporate agreement to purchase electricity from a U.S. gas power plant equipped with carbon capture technology, aiming to support its data centers in the Midwest. The 400-megawatt plant, located in Decatur, Illinois and developed by Low Carbon Infrastructure, is expected to leverage carbon capture to significantly reduce CO2 emissions. This initiative represents part of Google's broader strategy to secure sustainable energy sources amid growing electricity demands from advancements in technology like artificial intelligence.
Source: YAHOO
Reported 3 days ago
Union Pacific Corp. announced its third-quarter earnings, reporting a profit of $1.79 billion on $6.24 billion in revenue, with a per-share profit of $3.01, exceeding analysts' expectations. The adjusted earnings, taking into account merger-related costs with Norfolk Southern, were $3.08 per share.
Source: YAHOO
Reported 3 days ago
Roper Technologies has revised its annual profit forecast downward, expecting increased acquisition costs to impact earnings. As a result, shares dropped 7%. The company anticipates adjusted earnings per share to range between $19.90 and $19.95, down from a previous estimate of $19.90 to $20.05. Roper, known for its growth through acquisitions across various sectors, also reported a 14% revenue increase in the third quarter to $2.02 billion.
Source: YAHOO
Reported 3 days ago
Union Pacific reported a 7% increase in third-quarter earnings, totaling $1.79 billion, as it continues advocating for a potential $85 billion merger with Norfolk Southern. CEO Jim Vena argues that the merger could enhance efficiency and competition, though it faces scrutiny from some industry peers and regulatory hurdles. Despite challenges from technological advancements in trucking and shipping, Union Pacific remains on track for consistent profit growth.
Source: YAHOO
Reported 3 days ago
Grab has made a significant equity investment in the robotaxi startup May Mobility as it plans to expand its operations into Southeast Asia. This partnership will integrate May Mobility's self-driving technology with Grab's fleet management systems, paving the way for the commercial deployment of robotaxis and enhancing the management of self-driving vehicles within ride-hailing platforms. This collaboration follows May Mobility's recent agreements with Lyft and Uber, aimed at launching autonomous vehicle services in various locations.
Source: YAHOO
Reported 3 days ago
Battery recycling company Redwood Materials has successfully raised $350 million in a funding round led by Eclipse Ventures, with participation from Nvidia. This fundraising effort comes amid a global push to enhance the supply of critical materials, essential for energy storage and battery manufacturing, particularly as demand grows due to advancements in artificial intelligence technology. Founded in 2017 by former Tesla executive J.B. Straubel, Redwood aims to expand its operations and production capacity using the new capital.
Source: YAHOO
Reported 3 days ago
China plans to enhance its technological independence over the next five years, as outlined by the Communist Party's latest economic blueprint, indicating a heightening competition with the U.S. The strategy emphasizes boosting investments in technology and manufacturing, mirroring some calls from Western economists to reduce reliance on exports. As both superpowers compete in future industries like artificial intelligence, tensions are expected to persist despite potential diplomatic efforts. Beijing's historic five-year plans aim to direct both public and private sector investments towards these goals.
Source: YAHOO