Reported 30 days ago
The SEC has rejected Elon Musk's offer of $2,923 for missing a deposition about his 2022 Twitter acquisition and is seeking sanctions against him. The SEC investigates potential securities fraud related to Musk's sale of Tesla shares and his increased Twitter stake. Despite initial refusals, Musk eventually testified on October 3, but the SEC argues that mere reimbursement of travel costs is insufficient given his wealth and previous missed depositions.
Source: YAHOO
Reported 30 days ago
In recent developments, McDonald's announced the return of Quarter Pounders minus slivered onions amidst an E. coli outbreak, assuring customers that affected products are no longer in their supply chain. Eli Lilly has received approval to market its weight-loss medications in Hong Kong, while Apple faces hurdles in Indonesia where the sales of its iPhone 16 are stalled due to non-compliance with local manufacturing regulations.
Source: YAHOO
Reported 30 days ago
Shreya Life Sciences, a pharmaceutical company based in Mumbai, has been identified as a key player in exporting advanced technology, including Nvidia AI chips, to Russia. Despite US and EU sanctions aimed at restricting Russia's access to dual-use technology, Shreya shipped over 1,100 high-end Dell servers equipped with Nvidia's H100 chips to Russia, valued at $300 million. While India's government has not enforced the same sanctions, the growing role of Indian firms as intermediaries has raised alarm among western officials, highlighting loopholes in sanctions enforcement. Shreya, with historical ties to Russian markets, has expanded its operations to include technology shipments, further complicating the geopolitical landscape.
Source: YAHOO
Reported 30 days ago
This week is significant for the Federal Reserve as it anticipates the release of September's Personal Consumption Expenditures (PCE) index on October 31, followed by the October jobs report on November 1. These economic indicators are critical for the Fed as they assess potential interest rate cuts.
Source: YAHOO
Reported 30 days ago
This week, five of the leading tech companies—Alphabet, Microsoft, Amazon, Meta, and Apple—are reporting their quarterly earnings. Dan Flax, a senior research analyst at Neuberger Berman, emphasizes the importance of these updates in light of current consumer weakness and slower enterprise growth. He anticipates strong growth in the cloud sectors of Microsoft, Amazon, and Google, while also noting Apple's emerging opportunities with the new iPhone 16 and Apple Intelligence. Investors should watch closely for insights into these critical areas.
Source: YAHOO
Reported 30 days ago
Apple is set to unveil new AI features with a software update on Monday and is expected to announce significant updates to its Mac lineup later this week as it prepares to report earnings. This comes as Apple continues to innovate in the tech space, highlighted by enhancements to its Macbook, iMac, and iPhone.
Source: YAHOO
Reported 30 days ago
Meta Platforms (META) is anticipated to report impressive third-quarter earnings, particularly due to its robust advertising revenue growth surpassed by over 20%. Industry expert Mark Mahaney highlights the company's sustainable growth opportunities and the effective use of AI in enhancing its advertising capabilities. Despite caution over future capital expenditures, Mahaney believes that returns from AI investments will soon be evident, making Meta a favored choice among marketers.
Source: YAHOO
Reported 30 days ago
On Monday, US stocks surged as the Dow Jones led gains ahead of a week filled with significant Big Tech earnings and crucial economic data releases. The Nasdaq Composite and S&P 500 also saw rises of nearly 0.3% each. Investors are eagerly awaiting earnings reports from major companies such as Alphabet, Apple, Amazon, Microsoft, and Meta, while economic data including an inflation update and October jobs report are set to influence market sentiments. Additionally, oil prices experienced a notable decline following Israeli strikes limiting their impact on Iranian military facilities.
Source: YAHOO
Reported 30 days ago
ON Semiconductor's stock has dropped following its quarterly earnings report, which showed profits exceeding estimates, yet sales continued to decline compared to the previous year.
Source: YAHOO
Reported 30 days ago
U.S. stocks, including the Nasdaq, are trending upwards in early trading, with heightened focus on upcoming earnings reports from five major tech companies in the 'Magnificent Seven' group: Alphabet, Amazon, Apple, Meta Platforms, and Microsoft. Meanwhile, oil prices are experiencing a dip amidst geopolitical tensions in the Middle East.
Source: YAHOO
Reported 30 days ago
Investors are anticipating an impactful week as five of the 'Magnificent Seven' tech giants, including Alphabet, Apple, Amazon, Microsoft, and Meta, are set to release their earnings. Additionally, key labor market indicators such as the Job Openings and Labor Turnover Survey (JOLTS) and ADP payroll data will provide further insight into the employment landscape.
Source: YAHOO
Reported 30 days ago
US stocks saw a significant rise on Monday as investors await crucial earnings reports from major tech companies like Amazon, Microsoft, Alphabet, and Apple, along with key economic data including Q3 GDP and the October jobs report. More than 90 S&P 500 firms are expected to disclose their earnings this week, with positive trends observed so far, as 78% have beaten profit estimates. Economic indicators are anticipated, including a projected GDP growth of around 3.2% and a potential decline in the PCE Index inflation reading.
Source: YAHOO
Reported 30 days ago
In response to financial struggles exacerbated by a prolonged strike, Boeing intends to secure $19 billion through a share sale to uphold its credit rating. The ongoing strike, which recently rejected Boeing's contract proposal, has caused significant disruptions for the company as workers remain on strike for nearly seven weeks.
Source: YAHOO
Reported 30 days ago
Hurricanes Helene and Milton significantly impact U.S. economic indicators at a crucial time, just before the October employment report, which is likely to show a decrease in job growth due to the storms and the Boeing strike. This distortion complicates the Federal Reserve's decision-making regarding interest rates, as recent statistics do not reflect the true state of the economy. Despite the challenges, experts predict the economy may recover rather quickly, but the immediate data may mislead interpretations especially in the politically charged environment leading up to the election.
Source: YAHOO
Reported 30 days ago
AT&T has entered into a $1 billion multi-year agreement with Corning to purchase fiber, cable, and connectivity solutions as part of its strategy to enhance high-speed internet services in the U.S. This deal comes amid a slowdown in the wireless market, pushing telecom companies to focus more on fiber services. The partnership is expected to improve network expansion and reduce deployment costs, with AT&T projecting to exceed 30 million fiber passings by the end of 2025.
Source: YAHOO
Reported 30 days ago
A new article reveals that everyday investors can surpass 98% of professional fund managers by adopting a straightforward investment strategy: buying and holding a broad-based index fund. Despite the intelligence and competitiveness of professional managers, they struggle to outperform the market—especially when fees and taxes are factored in. Reports show that over the last decade, a staggering 90% of actively managed funds lagged behind their benchmark indices. By choosing low-expense ETFs like the State Street SPDR Portfolio or Vanguard Total Stock Market ETF, individual investors can achieve better returns over time.
Source: YAHOO
Reported 30 days ago
As the 2024 election approaches, Wall Street is preparing for the possible presidencies of Donald Trump or Kamala Harris, both of which could significantly impact investment portfolios. Key differences in their tax policies are expected to influence market performance, with Trump's corporate tax cuts potentially boosting earnings, while Harris's proposals may lead to declines. Additionally, external factors like artificial intelligence and gold prices could continue to sway the market regardless of the election outcome.
Source: YAHOO
Reported 30 days ago
Boeing Co. has initiated a monumental $19 billion share sale, aimed at bolstering its liquidity and preventing a potential downgrade to junk status. The plan includes offering 90 million common shares and around $5 billion in depositary shares, marking one of the largest share offerings by a public company in history. With cash flow issues exacerbated by ongoing strikes and declining stock prices, the move is crucial for Boeing's CEO Kelly Ortberg as he seeks to stabilize the company and fund the production ramp-up of its 737 Max jetliner.
Source: YAHOO
Reported 30 days ago
Tesla's recent third quarter earnings report surpassed expectations, prompting CEO Elon Musk to announce ambitious production plans for 2025 and explore a ride-hailing service. Analyst John Murphy from Bank of America is optimistic, projecting significant sales and earnings growth in the coming years, driven by advancements in self-driving technology and potential revenue from humanoid robots.
Source: YAHOO
Reported 30 days ago
Oil prices fell more than 6%, marking their largest daily decline in over two years, after Israel's retaliatory strike against Iran targeted military sites while sparing crucial petroleum infrastructure. The price of West Texas Intermediate futures settled at $67.38 per barrel, and Brent closed at $71.42. Analysts believe the recent military actions are unlikely to escalate tensions affecting oil supply, leading to a forecast reduction in Brent prices for the fourth quarter.
Source: YAHOO
Reported 30 days ago
After reaching a record high, the Nasdaq Composite is set to rise further ahead of key earnings reports from major tech companies. In contrast, oil prices are declining following Israel's recent military actions that did not affect oil facilities. Trending tickers include Trump Media & Technology Group, Nvidia, and AMD.
Source: YAHOO
Reported 30 days ago
Investing $500 in Nvidia's IPO in January 1999 would now be worth $1.88 million, significantly outperforming the S&P 500. Nvidia began as a graphics chip company and evolved into a leader in AI, showcasing strategic innovations like the CUDA platform and capitalizing on the AI boom, with a recent data center revenue surge of 154%. The company has executed six stock splits since going public, making shares more accessible, and is positioned for future growth with its Blackwell architecture aimed at AI workloads.
Source: YAHOO
Reported 30 days ago
With $2.2 million managed by a financial advisor charging a 1% fee, it’s essential to assess if this rate is competitive. While 1% is aligned with average industry fees, you should consider the value received beyond investment management. Services offered by the advisor, such as tax advice and long-term planning, could justify the cost. It's crucial to determine if you're receiving adequate support for your financial goals and whether the fee structure matches your needs.
Source: YAHOO
Reported 30 days ago
Volkswagen is planning significant layoffs affecting tens of thousands of staff and the closure of at least three factories in Germany as the company undergoes a major restructuring to cut costs amid high energy prices, labor costs, and increased competition. Union representatives have expressed serious concerns, and workers have protested against the proposed cuts, threatening strikes if management does not change course. The situation poses challenges for the German government, which seeks to support the economy facing a potential second year of contraction.
Source: YAHOO
Reported 30 days ago
OpenAI and Microsoft are grappling with the complex task of valuing OpenAI as it prepares to transition from a nonprofit to a for-profit entity. Legal experts indicate that multiple methods of valuation could lead to significant discrepancies, further complicated by OpenAI's ongoing losses of $5 billion and its unclear path to profitability. As both companies navigate the intricacies of equity division and profit rights, tensions mount, raising concerns over fair compensation and potential legal challenges in this unprecedented shift.
Source: YAHOO