Reported about 1 month ago
Nvidia has stated it has not received a subpoena from the U.S. Department of Justice (DOJ) concerning its acquisition of RunAI and antitrust issues, despite ongoing communications with the agency. The DOJ is reportedly gathering information about Nvidia’s market practices and its position in the AI chip industry, amid concerns about potential competition stifling. Nvidia maintains that its market advantage is due to product merit and is willing to cooperate with regulators.
Source: YAHOO
Reported about 1 month ago
ChargePoint Holdings, the US's largest electric vehicle charging network, is planning to reduce its workforce by 15% after failing to meet revenue expectations. The company anticipates that this workforce reduction will save approximately $41 million in operating expenses. Following the announcement, ChargePoint's shares fell by 8.8%. This is not the first instance of layoffs for ChargePoint, having already cut 10% of its workforce last September and additional layoffs earlier in the year.
Source: YAHOO
Reported about 1 month ago
Steward Health Care, the largest private hospital operator in the U.S., has received court approval to sell six hospitals in Massachusetts for $343 million, despite incurring no profit from the sale. U.S. Bankruptcy Judge Christopher Lopez described the deal as the best option available to help minimize losses for the company, which is burdened by $9 billion in debt. The sale includes acquisitions by Lifespan Health System, Boston Medical Center, and Lawrence General Hospital, with Massachusetts providing financial support as part of the agreement.
Source: YAHOO
Reported about 1 month ago
Donald Trump's proposed tax cuts, estimated to cumulatively cost up to $10.5 trillion over a decade, would surpass the budgets of all domestic federal agencies combined. Despite assertions from his campaign about offsetting these costs through spending cuts and increased energy production, the sheer scale of the proposals raises concerns about their feasibility and potential economic impact. Meanwhile, Democratic proposals, while substantial, would incur less than a quarter of this cost.
Source: YAHOO
Reported about 1 month ago
An appeals court has confirmed that the Internet Archive violated copyright law by digitizing and sharing books without publisher consent. This ruling follows a lawsuit from major publishers including Hachette and Penguin Random House, who claimed the Archive was unlawfully providing free access to over 100 titles. The court determined that the Archive's lending program, initiated during the pandemic, did not qualify as fair use, marking a significant win for the publishing industry.
Source: YAHOO
Reported about 1 month ago
Nvidia has stated that it has not received a subpoena from the U.S. Justice Department, despite reports indicating otherwise. The company expressed its willingness to cooperate with any inquiries, while the Justice Department reportedly investigates Nvidia's business practices and a recent acquisition that might impact its role in the artificial intelligence market.
Source: YAHOO
Reported about 1 month ago
Nvidia's stock has faced significant losses recently, resulting in a nearly $280 billion drop in market capitalization. As investors seek AI exposure, experts debate potential alternatives to Nvidia, which currently leads the AI infrastructure market. Northwestern Mutual's Matt Stucky discusses the importance of Nvidia in AI investments and the challenges of finding comparable opportunities in the current market.
Source: YAHOO
Reported about 1 month ago
C3.ai released its fiscal 2025 first quarter results, showing a loss of $0.05 per share, which was better than the anticipated $0.13 loss. While the company's revenue of $87.2 million met expectations, subscription revenue fell short, causing its stock to drop following the announcement.
Source: YAHOO
Reported about 1 month ago
Uber Technologies has successfully entered the investment-grade bond market for the first time, raising $4 billion in a multi-part offering. Demand was robust, reaching about $8 billion, influenced by the company's recent profitability and strong growth metrics. The proceeds will be used to pay off existing loans and for general corporate purposes after a series of credit rating upgrades to investment grade.
Source: YAHOO
Reported about 1 month ago
Hewlett Packard Enterprise Co. has reported disappointing margins in its AI server business, with fiscal third-quarter adjusted gross margins declining to 31.8%, below analyst expectations. The increase in AI server revenue, which reached $1.3 billion, has not offset the impact of high semiconductor costs. Despite healthy sales growth and a projected increase in sales for the upcoming quarter, concerns over margins persist, leading to a 3% decline in share prices.
Source: YAHOO
Reported about 1 month ago
Airbus and Rolls-Royce are expected to inform airlines that there is no immediate need for extensive checks on the Airbus A350-1000 following an engine issue that prompted Cathay Pacific to evaluate its fleet. This follows a period of uncertainty surrounding safety concerns, though the final decision on any necessary actions rests with regulators like the European Union Aviation Safety Agency (EASA).
Source: YAHOO
Reported about 1 month ago
The proposed $14 billion takeover of United States Steel Corp. by Japan's Nippon Steel faces significant challenges as President Biden signals intentions to block the deal. Following reports of Biden's opposition, US Steel's stock dropped by as much as 24%, closing notably below Nippon Steel's offer price, leading to a widening gap in expected deal valuation.
Source: YAHOO
Reported about 1 month ago
The Japanese yen gained more than 1% against the dollar on Wednesday, reaching a peak of 143.76 per dollar, as signs of a cooling US labor market heightened expectations for more aggressive interest rate cuts by the Federal Reserve. This surge came after US job openings dropped to their lowest since 2021, fueling a broader rally in bonds and benefiting safe-haven currencies like the yen, especially amid hawkish comments from the Bank of Japan.
Source: YAHOO
Reported about 1 month ago
Hewlett Packard Enterprise (HPE) shares dropped in after-hours trading on Wednesday, even though the company exceeded fiscal Q3 earnings expectations with revenues of $7.71 billion and adjusted earnings of $0.50 per share. Analysts had projected $7.66 billion in revenue and $0.47 per share in earnings.
Source: YAHOO
Reported about 1 month ago
ASML's CEO, Christophe Fouquet, stated that the US campaign to restrict exports to China, initially justified by national security concerns, is increasingly economically motivated. Speaking at a conference, he expressed that while the push for restrictions may continue, there will be growing resistance against these measures. He emphasized the need for business stability and indicated that advancements in Chinese chipmaking are becoming constrained due to existing restrictions, even as demand for AI chips remains strong.
Source: YAHOO
Reported about 1 month ago
Morningstar's chief US market strategist, David Sekera, shares his insights on the Fed's potential interest rate cuts and market valuations. He suggests that a 50 basis point cut would be concerning, as the market is already expecting a smaller 25 basis point reduction. Sekera estimates GDP will slow down in upcoming quarters, reflecting a cautious approach to the central bank's monetary policy.
Source: YAHOO
Reported about 1 month ago
On September 4, 2024, U.S. stock markets continued to decline, driven by losses in the technology and energy sectors. The S&P 500 dropped 0.2%, while the Nasdaq fell 0.3%. The Dow Jones, however, gained 0.1%. Additionally, job openings in July fell unexpectedly, indicating potential cooling in hiring, and U.S. Steel shares plummeted 17.5% following news of a possible block on its acquisition by Nippon Steel.
Source: YAHOO
Reported about 1 month ago
Following the release of July's JOLTS labor data, the Nasdaq Composite and S&P 500 indexes slipped into the red, while the Dow Jones Industrial Average remained positive. Market trends indicated increased volatility in September, with notable drops in Treasury yields and energy prices, particularly oil. Analyst Julie Hyman provided insights into the day's market movements.
Source: YAHOO
Reported about 1 month ago
In the lead-up to the 2024 presidential election, healthcare has fallen off the agenda compared to previous elections, primarily due to the increasing popularity and coverage of the Affordable Care Act (ACA), which now provides health insurance to 45 million Americans. Both presidential candidates, Kamala Harris and Donald Trump, focus on other pressing issues like inflation and immigration, as voters show confidence in Democrats over Republicans on healthcare. Despite Trump's previous calls for repeal, he now promises to improve the ACA, reflecting its enhanced acceptance among the public and the lower uninsured rates.
Source: YAHOO
Reported about 1 month ago
In August, Donald Trump's campaign spent $32 million more than it raised, ending the month with $295 million in cash reserves. Trump raised $130 million, down from $138.7 million in July, prompting a significant increase in advertising expenditures to counter Democratic rival Kamala Harris's rising popularity. Despite setbacks, the campaign claims it has sufficient resources for the race, relying heavily on small-dollar donations.
Source: YAHOO
Reported about 1 month ago
US stocks experienced a mixed performance on Wednesday as concerns over economic growth and a slow start to September persisted. The S&P 500 fell by about 0.2% and the Nasdaq by 0.3%, while the Dow Jones gained 0.1%. Recent data indicated a sharp decline in job openings, raising speculation for potential interest rate cuts by the Federal Reserve. Despite some positive movements and an increasing expectation for rate cuts, analysts warn that this sluggish market could continue through September.
Source: YAHOO
Reported about 1 month ago
Lyft has announced plans to cut about 1% of its workforce and restructure its bike and scooter services to lower operating costs, expecting to incur charges between $34 million and $46 million due to these changes.
Source: YAHOO
Reported about 1 month ago
Jensen Huang, the CEO of Nvidia, has fallen out of the $100 billion club after a significant drop in his net worth, losing nearly $10 billion in a single day. Following a 9.5% decline in Nvidia’s stock on Tuesday, Huang's wealth decreased from approximately $105 billion to $94.9 billion, pushing him down the ranking of the world's billionaires. Despite this setback, he has still gained about $51 billion in 2024 due to the high demand for Nvidia's chips amid the AI boom.
Source: YAHOO
Reported about 1 month ago
Astera Labs' stock has seen an increase after being upgraded to 'Overweight' by Morgan Stanley analysts, who believe that the stock's decline in 2024 presents a good investment opportunity. Analysts highlight this shift as a promising entry point for investors.
Source: YAHOO
Reported about 1 month ago
Analysts at BofA Securities have upgraded Nasdaq (NDAQ) stock from Underperform to a Buy rating, with a new price target of $90 per share. This upgrade comes as Nasdaq has experienced a notable 30% increase in year-to-date gains for 2024.
Source: YAHOO