Reported about 1 month ago
Elon Musk has been issued a summons related to the SEC lawsuit accusing him of delaying the disclosure of his significant stake in Twitter by 11 days, which violated federal securities law. The summons was served at SpaceX's headquarters in Texas, and he must respond by April 4. The SEC claims Musk failed to report his 5% ownership within the required 10 days.
Source: YAHOO
Reported about 1 month ago
Nike's stock fell by approximately 5% after the company reported better-than-expected earnings for the third quarter, but expressed concerns about the potential impacts of tariffs, particularly a 20% duty on Chinese imports. New CEO Elliott Hill highlighted the expected decline in gross margins for the fourth quarter due to these tariffs, alongside decreasing consumer confidence influenced by inflation worries. Despite outperforming revenue estimates, Nike anticipates significant challenges ahead in a competitive landscape.
Source: YAHOO
Reported about 1 month ago
President Trump has signed an executive order to dismantle the Department of Education, asserting that key programs like Title 1 and Pell Grants will be preserved and redistributed to other agencies. Critics argue that this move could destabilize the education system and negatively impact federal funding for low-income and special needs students. The administration claims it will shift management of educational funds without cutting funding, although legal and operational challenges are anticipated in executing this transition.
Source: YAHOO
Reported about 1 month ago
VanEck Ventures, through General Partner Wyatt Lonergan and Partner Juan Lopez, announced an investment in Manifest, a decentralized finance platform that tokenizes U.S. real estate. Manifest's upcoming product, the $USH tokenized ETF, aims to provide investors direct exposure to owner-occupied single-family residential real estate equity without relying on traditional REITs. This innovative approach leverages blockchain technology for enhanced liquidity and reduced fees, marking a significant evolution in real estate investment options.
Source: YAHOO
Reported about 1 month ago
William Chisholm, a low-profile private equity leader, has taken the spotlight by leading a group that agreed to purchase the Boston Celtics for a record-breaking $6.1 billion. A lifelong Celtics fan raised in Massachusetts, Chisholm holds degrees from Dartmouth College and The Wharton School. He co-founded Symphony Technology Group, which specializes in tech investments, and has successfully raised nearly $10 billion in private equity. Chisholm's commitment to the Celtics reflects his deep roots in Boston and its community.
Source: YAHOO
Reported about 1 month ago
U.S. stocks closed lower on Thursday after fluctuating between gains and losses, as investors assessed economic data and concerns about tariffs. The market has seen increased selling pressure, driven by signs of cooling consumer sentiment amid the Trump administration's trade policies. Despite previous gains, economic indicators suggested a potential slowdown, leading to speculation about future interest rate cuts by the Federal Reserve. While technology stocks struggled, energy shares rose due to increased crude prices. The overall market remains volatile with many uncertainties impacting investor sentiment.
Source: YAHOO
Reported about 1 month ago
As tariff uncertainties loom, Yahoo Finance's Rick Newman discusses the significant concerns regarding the US economy under President Trump's second term, highlighting potential larger tariffs, conflicts within the Federal Trade Commission, and shifts in investment trends that could affect market stability.
Source: YAHOO
Reported about 1 month ago
US stock markets declined on Thursday, failing to maintain momentum from a Wednesday rally driven by reassuring comments from Federal Reserve Chair Jerome Powell about interest rates. The Dow Jones, S&P 500, and Nasdaq all showed losses after initially rising during the day, reflecting growing concerns about economic growth and inflation forecasts. President Trump intensified pressure on the Fed, suggesting that rate cuts would better support the economy amidst tariff impacts.
Source: YAHOO
Reported about 1 month ago
In February, the Port of Long Beach, California, reported a significant increase in trade volume, marking nine consecutive months of growth. Cargo movement grew by 13.4% year-over-year, totaling 765,385 twenty-foot equivalent units (TEUs), driven by a strategic push from retailers to stock up before anticipated tariffs. Notably, imports rose by 11.8% to 368,669 TEUs, while exports increased by 2.9% to 90,026 TEUs, alongside a 19.1% rise in empty container movement.
Source: YAHOO
Reported about 1 month ago
A federal judge has temporarily blocked Elon Musk's DOGE team from accessing personal information from the Social Security Administration.
Source: YAHOO
Reported about 1 month ago
Citi analysts have upgraded the Boston Beer Company, the parent company of Sam Adams, from Neutral to Buy, raising their price target to $280 per share. This upgrade follows a more favorable outlook after recent volatile marketing campaigns, particularly noting the success of their new product, Sun Cruiser, a canned cocktail. Analysts believe this reflects a clearer growth trajectory for the company after past attempts to diversify from beer.
Source: YAHOO
Reported about 1 month ago
U.S. safety regulators have recalled nearly all Tesla Cybertrucks, affecting over 46,000 vehicles, due to an issue with an exterior panel that can detach while driving, posing safety risks. This is the eighth recall since their delivery began in late 2023, and Tesla plans to replace the panels free of charge. The company continues to face scrutiny and challenges, including increased competition and targeted attacks on its properties.
Source: YAHOO
Reported about 1 month ago
Jabil's shares surged over 4% after the company reported better-than-expected earnings of $1.94 per share on revenue of $6.73 billion for Q2, surpassing analyst forecasts. The firm also provided a strong outlook for the coming quarter and full year, anticipating increased earnings driven by growing demand in the AI sector. Jabil projects adjusted EPS between $2.08 and $2.48 for the upcoming quarter, alongside expected full-year revenue of $27.9 billion.
Source: YAHOO
Reported about 1 month ago
Oil prices advanced following the US government's intensified sanctions against Iranian crude exports, aiming to increase pressure on Iran amidst negotiations for a new nuclear agreement. West Texas Intermediate rose to over $68 per barrel, while Brent reached $72, as the US Treasury sanctioned a Chinese refinery related to Iranian oil purchases. Experts believe this could significantly reduce Iranian exports by 1.5 million barrels daily if negotiations falter, despite ongoing pressures from trade tensions and increased production by OPEC.
Source: YAHOO
Reported about 1 month ago
German shipping company Hapag-Lloyd has published its 2024 financial results, showing a complex scenario of both growth and challenges. Despite an increase in transport volume to 12.5 million TEUs, average freight rates fell, resulting in a revenue rise to $20.3 billion. Notably, the Terminal & Infrastructure sector thrived, doubling its revenue. However, net profit decreased from $3.2 billion to $2.6 billion due to higher operational costs. Looking forward, the company anticipates lower earnings for 2025 due to market uncertainties.
Source: YAHOO
Reported about 1 month ago
Wall Street brokers have started trading claims from insurers regarding the Los Angeles wildfires, allowing investors to purchase rights for compensation from utilities if found liable. Investment firm Oppenheimer & Co. executed the first trade tied to the Eaton and Palisades Fires, amidst ongoing investigations into the causes of the fires. More than 37,000 claims totaling over $12 billion have been filed, as victims sue utility companies for alleged responsibility.
Source: YAHOO
Reported about 1 month ago
The Southwest Power Pool (SPP) has received approval from energy regulators to expand its territory, making it the first regional grid operator in the U.S. to connect the western and eastern electrical interconnections. This transition will allow SPP to enhance electricity management and market participation across 17 states, aiding local power providers in improving service reliability and customer costs starting in April 2026.
Source: YAHOO
Reported about 1 month ago
Federal Reserve Chair Jerome Powell has reignited discussions about the term 'transitory' in relation to inflation, suggesting that current inflation pressures resulting from tariffs may not be permanent. This echoes previous misjudgments during the COVID-19 pandemic when the Fed underestimated inflation, leading to a significant policy error as inflation reached a four-decade high. Powell admitted the current situation differs from past experiences, emphasizing the uncertainties in predicting inflation trends, while some analysts warn it is premature to label inflation as merely transitory.
Source: YAHOO
Reported about 1 month ago
Perplexity AI is currently negotiating to raise funds with a valuation of $18 billion, up from a previous $9 billion, as the Nvidia-backed startup responds to increasing demand for its search tools. The company is aiming to secure between $500 million and $1 billion in this funding round. Noted for its innovative AI search capabilities, Perplexity is looking to enhance its competitiveness against major players like Google and Microsoft, while facing scrutiny over allegations of plagiarism. Recent developments include the introduction of a new AI web browser and advanced research features.
Source: YAHOO
Reported about 1 month ago
Oaktree Capital Management has secured approximately $400 million in debt from Sunnova Energy International Inc. as the solar provider prepares for creditor negotiations to restructure its troubled capital framework. Sunnova faces significant challenges with over $8 billion in net debt and declining fortunes due to rising interest rates and reduced state incentives for solar equipment purchases. A merger of creditor groups has initiated confidential talks with the company following its warning about a going concern.
Source: YAHOO
Reported about 1 month ago
An analysis shows that women earn $217 less than men weekly, receiving only $0.83 for every dollar a male earns. Brad Smith discusses with Indeed's Priya Rathod how employers can help reduce the gender pay gap, highlighting pay transparency in job postings as a crucial factor in negotiating fair wages for female employees.
Source: YAHOO
Reported about 1 month ago
Nvidia's CEO Jensen Huang expressed surprise at the existence of publicly traded quantum computing companies, revealing he was unaware of this when making prior statements that negatively impacted stock prices. During a talk at Nvidia's GTC conference, Huang discussed the nascent field of quantum computing, acknowledging the technological challenges and potential timeline for practical applications. He heard from various leaders in the quantum industry who highlighted ongoing advancements and the partnership potential with traditional computing.
Source: YAHOO
Reported about 1 month ago
Insight Partners is anticipated to generate over $2.7 billion from the planned sale of cybersecurity firm Wiz Inc. to Alphabet Inc., which represents a return of more than 15 times its investment. The firm holds around an 8% stake in Wiz, while other investors like Sequoia Capital are also set to achieve significant profits from the deal, which is expected to close next year following regulatory approval.
Source: YAHOO
Reported about 1 month ago
The EPA's proposed rollback of emissions regulations has left trucking OEMs reeling amidst worsening consumer sentiment, which has plummeted to its lowest level since 2022 due to inflation and economic uncertainty. Experts discuss the adverse effects on the industry and express concerns regarding the volatility of economic policies and their impact on market conditions for trucking companies.
Source: YAHOO