Reported 3 days ago
Redwood Materials, a battery recycling and cathode production firm, has successfully raised $350 million to enhance its energy storage business aimed at supporting the booming AI data center industry. This Series E funding round, which included contributions from Nvidia's NVentures, has increased the company's valuation to approximately $6 billion. The new capital will help Redwood expand its storage capabilities and workforce, utilizing discarded electric vehicle batteries to create renewable energy systems for industrial clients.
Source: YAHOO
Reported 3 days ago
IBM shares fell over 6.5% due to slower growth in its cloud software segment, raising investor concerns about the company's ability to capitalize on AI demand. Despite an optimistic revenue outlook and healthy quarterly results from its infrastructure segment, the declining growth rate of its Red Hat hybrid cloud business has left investors apprehensive about future performance. Analysts highlight the importance of software performance for the company's overall growth and suggest that IBM's ongoing acquisition strategies may help meet high growth expectations.
Source: YAHOO
Reported 3 days ago
Traders are optimistic about the upcoming Federal Reserve interest rate cut despite potential inflation concerns surrounding the consumer price index (CPI) report. Analysts predict a 0.3% rise in core CPI, but anticipate that any modest inflation will not significantly derail market expectations, as the S&P 500 could rise up to 1.5% if inflation aligns with estimates. However, a hotter-than-expected report could lead to a 2.3% drop. As the government shutdown continues, Friday’s CPI data holds considerable importance for market direction and investor strategies, amidst signs of a cooling labor market.
Source: YAHOO
Reported 3 days ago
Hasbro has raised its annual revenue and profit forecasts, citing strong demand for its digital games like 'Magic: The Gathering' amidst tariff uncertainties affecting the holiday season. The company's revenue for the third quarter rose 8% to $1.39 billion, surpassing expectations, with a significant boost in its digital gaming segment. In response to potential tariff impacts, Hasbro has implemented cost-saving measures and aims to reduce reliance on Chinese imports by 2027.
Source: YAHOO
Reported 3 days ago
Honeywell has increased its 2025 profit outlook despite the upcoming spinoff of its advanced materials unit, Solstice, due to high demand in the aerospace sector. The company anticipates adjusted earnings per share of $10.60 to $10.70, which accounts for the impact of Solstice, previously projected at $10.24 to $10.44. Honeywell's aerospace division reported a 15% sales increase in the third quarter, contributing to overall sales growth of 7% to $10.41 billion.
Source: YAHOO
Reported 3 days ago
MercadoLibre announced a new long-term partnership to sell products from Brazilian retailer Casas Bahia starting in November, aiming to expand its market share in Brazil's electronics and household appliances sectors. This collaboration is expected to enhance sales for both companies, with Casas Bahia managing shipping logistics due to its expertise in large products. The partnership comes as Brasil's e-commerce market grows increasingly competitive.
Source: YAHOO
Reported 3 days ago
SAP shares experienced volatility following the company’s announcement of a cloud revenue forecast at the lower end of expectations, predicting 2025 earnings to be between 21.6 billion and 21.9 billion euros. After an initial rise, the stock fell about 2% as analysts noted a strong demand and a cloud backlog growth of 27% year-on-year, despite concerns related to AI disrupting the software sector.
Source: YAHOO
Reported 3 days ago
Revolut, the British finance app, has obtained a crypto license from Cyprus, enabling it to offer crypto services throughout the EU as it seeks to grow its user base. Approximately 22% of its 65 million customers actively trade cryptocurrencies. With the crypto segment significantly boosting its revenue and a new standalone platform launched, Revolut is positioned to thrive under EU's updated regulations.
Source: YAHOO
Reported 3 days ago
Tesla, relying heavily on its successful Model 3 and Model Y, faces challenges as it has introduced few new models since their launch, particularly with the Cybertruck underperforming. CEO Elon Musk's focus on self-driving technology over traditional vehicle development raises concerns among analysts about Tesla's long-term growth, especially as competitors release new models rapidly. Despite slight cosmetic updates, Tesla has not significantly refreshed its core models in years, risking customer loyalty in an industry where innovation is critical.
Source: YAHOO
Reported 3 days ago
The U.S. economy has successfully avoided recession for two years, largely attributed to the impact of artificial intelligence (AI). According to BNP Paribas' chief economist, AI has driven significant investment, particularly in data centers and technology services, contributing to GDP growth and bolstering business confidence. This shift has altered traditional monetary policy effects, enabling corporate spending to thrive despite higher interest rates, showcasing a unique dynamic in the current financial landscape.
Source: YAHOO
Reported 3 days ago
China's Vice Premier He Lifeng announced a meeting with US Treasury Secretary Scott Bessent in Malaysia to negotiate tariffs ahead of an anticipated summit between President Trump and China's Xi Jinping. The US is contemplating restrictions on software exports to China and Trump expects a favorable deal with Xi, despite concerns that upcoming discussions may not happen. The US has also signed a deal with Australia for critical minerals amidst ongoing trade tensions.
Source: YAHOO
Reported 3 days ago
Shares of Beyond Meat Inc. have skyrocketed over 1,300% in just four days, prompting short sellers to either exit their positions to prevent further losses or double down on their investments against the stock. The surge brought about significant paper losses for short sellers, totaling over $120 million from previous highs, and driving retail trading mania reminiscent of past meme stock events. Despite a brief spike after Walmart's expansion of Beyond Meat products, the stock faced a downturn, highlighting the volatile nature of retail-driven trading dynamics.
Source: YAHOO
Reported 3 days ago
Shares of U.S. quantum computing companies surged following reports that the Trump administration is considering acquiring equity stakes in these firms in exchange for federal funding. Companies like IonQ, Rigetti, and D-Wave Quantum saw their stock prices rise by up to 16%. Despite a Commerce Department official stating that no negotiations are currently ongoing, the potential government investment signals a new strategy to bolster critical technology sectors while reducing reliance on China.
Source: YAHOO
Reported 3 days ago
US stock futures showed volatility on Thursday as oil prices surged following sanctions on Russia, while Tesla's shares fell over 3.5% after mixed earnings reports. The Dow futures remained mostly flat, with slight gains in S&P 500 and Nasdaq futures. Investors await further earnings results and crucial inflation data, amidst concerns about US-China trade tensions and their potential impact on the markets.
Source: YAHOO
Reported 3 days ago
China has announced that Vice Premier He Lifeng will meet with US officials in Kuala Lumpur from October 24 to 27 for trade talks, aimed at reducing tensions between the two largest economies. The discussions come ahead of a planned meeting between Presidents Xi Jinping and Donald Trump later this month, as both sides navigate recent escalatory measures affecting their trade relationship.
Source: YAHOO
Reported 3 days ago
Google has agreed to a multimillion-pound investment in THG Ingenuity, a branch of British e-commerce firm THG, potentially valuing the company at over 750 million pounds ($1.01 billion), according to Sky News.
Source: YAHOO
Reported 3 days ago
The Bureau of Labor Statistics is set to publish the September Consumer Price Index on Friday, providing a rare glimpse of economic data during the ongoing government shutdown. Though the CPI will reveal increased inflation trends, returning to above 3%, it will also bring insight into rising food and service costs affecting consumers. This report is critical for determining the 2026 cost of living adjustment but will be the last data available until the government reopens.
Source: YAHOO
Reported 3 days ago
China's recent export restrictions on rare earth minerals have raised concerns about potential supply shortages for the US defense industry, as these materials are vital for various weapon systems. Despite warnings from industry experts about a looming crisis, major defense contractors like Lockheed Martin and Northrop Grumman have downplayed the risks, suggesting they have taken proactive measures to secure supplies. The US government is also taking steps to develop domestic rare earths sources to mitigate reliance on China.
Source: YAHOO
Reported 3 days ago
STMicroelectronics has appointed two new Italian members to its supervisory board, marking an effort to resolve governance tensions between Italy and France. The new appointees, Armando Varricchio and Orio Bellezza, will replace outgoing members, pending shareholder approval in December. This decision follows previous conflicts regarding board appointments and reflects an ongoing partnership aimed at revitalizing the company amid industry challenges.
Source: YAHOO
Reported 3 days ago
Nokia CEO Justin Hotard likened the current surge in artificial intelligence to the internet boom of the 1990s, suggesting it signals a long-term growth trend while minimizing concerns about a potential market bubble. Despite reports indicating many fund managers believe AI stocks are overvalued, Hotard emphasizes the increasing demand for data centers and AI infrastructure, pointing to positive trends as Nokia adapts its business model to incorporate AI technology.
Source: YAHOO
Reported 3 days ago
Swedish telecom operator Telia reported third-quarter core earnings that slightly exceeded market expectations, with adjusted operating profit before depreciation and amortisation (EBITDA) rising 4.4% to 8.46 billion Swedish crowns. The increase was driven by service revenue growth and reduced operational expenses, prompting Telia to upgrade its free cash flow outlook and maintain positive predictions for EBITDA and service revenue growth in 2025.
Source: YAHOO
Reported 3 days ago
Nokia reported a third-quarter profit exceeding market expectations, fueled by strong demand for optical technologies and AI-enabled cloud services, following its acquisition of Infinera. The company's shares rose significantly as optical network sales increased by 19%, contributing to a 12% rise in overall net sales. Despite challenges such as U.S. tariffs and market slowdowns, Nokia remains optimistic about future growth, anticipating annual operating profits between 1.7 and 2.2 billion euros.
Source: YAHOO
Reported 3 days ago
As China's intense 996 work culture influences global tech industries, South Korea's tech sector struggles with the 52-hour workweek limit established in 2018. While this limit aims to protect workers, tech leaders argue it can hinder innovation, particularly in fast-paced fields like artificial intelligence and semiconductors, where extended hours may be necessary for development. Despite a willingness among many employees to work additional hours for fair compensation, there are growing calls for greater flexibility, particularly in R&D roles, to balance productivity and worker rights.
Source: YAHOO
Reported 3 days ago
STMicroelectronics anticipates a sales increase in the fourth quarter, projecting revenues of $3.28 billion, up from $3.19 billion in the current quarter, signaling a potential recovery in its major markets after a prolonged downturn. Despite the positive outlook, the company has reduced its capital expenditure plans for 2025 to slightly below $2 billion, reflecting current market conditions. CEO Jean-Marc Chery emphasized the focus on innovation and restructuring manufacturing to meet the challenges faced by the semiconductor industry.
Source: YAHOO
Reported 3 days ago
Dassault Systemes has revised its full-year revenue growth outlook down to 4% to 6% from the previous estimate of 6% to 8%, following a disappointing third-quarter performance largely due to slower growth in its Life Sciences and CENTRIC PLM sectors. The company reported flat quarterly revenue of 1.46 billion euros, falling short of analyst expectations, while maintaining a forecast for a 7% to 10% increase in diluted earnings per share.
Source: YAHOO