Reported about 1 month ago
The U.S. Supreme Court has temporarily upheld a lower court's ruling against President Biden's student loan relief plan, keeping it on hold while legal battles continue. This decision affects millions of borrowers enrolled in the SAVE plan, as the Court noted the need for a definitive ruling from the 8th Circuit Court. The Department of Education expressed disappointment, as this delay impacts the financial relief expected by borrowers.
Source: YAHOO
Reported about 1 month ago
Applied Digital, a data center operator, reported a fourth-quarter loss that exceeded expectations, mainly due to high expenses for facilities and equipment that have yet to yield revenue. This led to a 13% drop in shares after the announcement. The company posted an adjusted loss of $45.3 million, attributed in part to $15.5 million of expenses. Despite reporting revenues of $43.7 million, which surpassed estimates, the net loss widened significantly from the previous year.
Source: YAHOO
Reported about 1 month ago
Asian stocks are set to decline following Nvidia's disappointing earnings report, which derailed the robust outlook for the tech sector. Key indices like South Korea's Kospi fell over 1%, influenced by drops in major chipmakers like Samsung and SK Hynix. The dismal sales forecasts from Nvidia raised concerns about the AI market's momentum, while Chinese stocks are under scrutiny amid a struggling economy and mixed earnings results from local companies.
Source: YAHOO
Reported about 1 month ago
Oil prices have stabilized after a two-day drop, as declining stock markets balanced out reductions in US crude inventories and disruptions in Libya's oil supply. Brent crude traded under $79 per barrel, while West Texas Intermediate hovered around $75. Despite expectations of lower interest rates and OPEC+ supply discipline supporting oil prices this year, concerns arise over a potential supply boost from OPEC+ starting in October amidst subdued demand from China.
Source: YAHOO
Reported about 1 month ago
Ahead of its Q2 earnings report, analysts have revised Dell's stock price targets due to market dynamics and competition in the AI server sector. Despite a recent strong performance in the Infrastructure Solutions Group, concerns over margin pressures and potential future demand have influenced these adjustments, with varying price targets set by different analysts. Citi lowered its target to $155, while Evercore ISI and JPMorgan made similar revisions citing growth potential in AI sales.
Source: YAHOO
Reported about 1 month ago
Nvidia recently exceeded expectations with its Q2 results, reporting adjusted earnings of $0.68 per share and revenues of $30 billion. However, experts express concerns that sustaining this growth may prove difficult, with predictions of a potential slowdown or revenue decline next year due to rising competition and deteriorating margins for key clients like Microsoft, which depend on Nvidia's GPUs.
Source: YAHOO
Reported about 1 month ago
Federal Reserve Bank of Atlanta President Raphael Bostic suggested it may be time to consider rate cuts due to declining inflation and rising unemployment, but emphasized the need for additional confirmation from upcoming economic reports before making a decision. He expressed concern over making cuts that could lead to a future increase in rates, which would damage public confidence in the Fed.
Source: YAHOO
Reported about 1 month ago
Tesla has removed key documents, including Elon Musk's original 'Secret Master Plan' and previous blog posts, from its website. These documents outlined the company's vision for electric vehicle production and sustainability. The removal coincides with Musk's recent shift in climate stance and support for former President Trump, raising questions about the company's commitments to its founding philosophies and the future of its self-driving technology amid ongoing legal challenges.
Source: YAHOO
Reported about 1 month ago
Nvidia reported robust second-quarter earnings, surpassing revenue estimates with $30.04 billion, yet its stock dropped over 5% due to a Q3 revenue guidance of approximately $32.5 billion, which fell short of Wall Street’s highest forecasts. CEO Jensen Huang emphasized strong demand for existing Hopper chips and optimistic prospects for the upcoming Blackwell chips, despite production challenges affecting gross margins. Analysts remain divided, with some viewing the earnings as a positive indicator of sustained AI demand, while others express caution over potential disappointments.
Source: YAHOO
Reported about 1 month ago
The recent death of a CSX rail worker in Ohio has sparked renewed debates about the safety of remote-controlled trains, as unions push for the reinstatement of two-person crews. The incident, which involved a remote-control operator with no visibility of the train's front, highlights risks that unions argue could be mitigated if traditional crews were employed. Despite the railroads' confidence in the safety of single-operator systems, federal scrutiny is increasing following this death and other recent accidents, leading to calls for greater accountability and caution in the use of remote control in both railyards and beyond.
Source: YAHOO
Reported about 1 month ago
Following a strong earnings report and comments from CEO Tomer Weingarten, analysts have adjusted their price targets for SentinelOne stock. The company reported its first quarter of positive net income, with revenues rising 33% year-over-year. Weingarten's remarks during the earnings call highlighted risks in the cybersecurity industry, particularly in relation to a significant IT outage caused by competitor CrowdStrike. As a result, analysts believe that the outage may positively impact SentinelOne's business as more customers consider its services.
Source: YAHOO
Reported about 1 month ago
BlackRock has introduced its new ethereum exchange-traded fund (ETF) on Brazil's B3 exchange, responding to increased investor interest in cryptocurrencies in the region. The ETF, trading under the ticker ETHA39, features management fees that are competitive, starting at 0.12% for the first year. As a leader in the crypto ETF market, BlackRock aims to make digital asset investments more accessible to Brazilian investors amidst rising adoption of cryptocurrencies.
Source: YAHOO
Reported about 1 month ago
In a recent discussion, HP Inc. CEO Enrique Lores highlighted the 'very significant impact' AI will have on the company, enhancing productivity and employee satisfaction. He stated that HP aims to leverage AI to transform workplace dynamics and improve job fulfillment. Additionally, Lores mentioned that HP's upcoming PCs equipped with AI capabilities have received positive early feedback, and the company collaborates with major chipmakers like Qualcomm, AMD, and Intel to ensure robust hardware for the AI integration.
Source: YAHOO
Reported about 1 month ago
The California legislature has passed a contentious AI safety bill, SB 1047, which mandates safety testing and emergency stop mechanisms for advanced AI models. Facing opposition from tech companies that fear it could stifle innovation, the bill requires third-party audits and grants the attorney general authority to sue non-compliant developers. It now awaits Governor Gavin Newsom's decision by September 30, amid mixed reactions from Democrats and tech leaders alike.
Source: YAHOO
Reported about 1 month ago
CrowdStrike Holdings reported a $60 million setback in its sales pipeline due to a software update failure that caused significant operational disruptions, including stranding travelers and interrupting daily business. Despite this setback, CEO George Kurtz expressed confidence that the company will secure contracted sales by January 2025, as customers remain supportive of its cybersecurity solutions. He acknowledged the incident's impact on the company's reputation but reassured stakeholders of a commitment to preventing future outages.
Source: YAHOO
Reported about 1 month ago
UK car production experienced a 14.4% decline in July, marking the fifth consecutive month of decrease, according to industry data. Factors contributing to this decline include manufacturers transitioning to new models and temporary supply chain disruptions. Despite the drop, production of electrified vehicles represented 37.5% of the total output. The sector faces ongoing challenges as it shifts towards zero-emission vehicle production, with foreign investment in EV manufacturing continuing to grow.
Source: YAHOO
Reported about 1 month ago
Salesforce Inc. announced an earnings outlook for the fiscal year that surpasses analysts’ expectations, citing a profit of $10.03 to $10.11 per share, amid concerns over sales growth. The company, focused on cost discipline, has seen operating margins rise to record highs and affirms a revenue outlook between $37.7 billion and $38 billion. Despite AI product launches aimed at boosting sales, skepticism lingers among analysts regarding uptake. CEO Marc Benioff introduced new AI tools branded as ‘agents’ during the earnings call, while CFO Amy Weaver announced her departure after four years.
Source: YAHOO
Reported about 1 month ago
Nvidia's shares fell 4% after its earnings forecast fell short of high expectations, despite still reflecting strong growth. Investor concern was somewhat alleviated by the expectation of ramped-up production of new chips. Other tech stocks, including Broadcom and AMD, also experienced gains, indicating sustained confidence in the AI market. Overall, while Nvidia didn't meet the most elevated expectations, analysts suggest it's a buying opportunity, and the long-term outlook for AI remains positive.
Source: YAHOO
Reported about 1 month ago
Salesforce recently withdrew from a major acquisition of Informatica valued at over $11.4 billion due to unsettled terms. Analyst Charlie Miner emphasizes the need for Salesforce to reignite its mergers and acquisitions strategy, noting that while the company's focus has shifted to AI and improving its data cloud capabilities, there remains significant growth potential in this area.
Source: YAHOO
Reported about 1 month ago
Big Lots Inc., a discount home goods retailer, is reportedly considering bankruptcy filing following several years of declining sales. The company is also actively trying to secure investments to avoid Chapter 11 proceedings. Recently, Big Lots' shares fell by 30% in after-hours trading, and they have been working with AlixPartners LLP to navigate its financial troubles. Earlier this year, the company received a loan to alleviate liquidity issues and authorized significant retention bonuses for executives, hinting at possible corporate restructuring.
Source: YAHOO
Reported about 1 month ago
According to Bloomberg, discount retailer Big Lots is contemplating a bankruptcy filing amid declining sales and increasing financial pressures. The company is exploring potential investors to avert Chapter 11 bankruptcy. Big Lots' shares plummeted 27% in post-market trading, and the company has faced a significant drop in value, losing almost 88% this year. The retailer aims to improve its liquidity, disrupted by reduced demand for discretionary items due to rising interest rates.
Source: YAHOO
Reported about 1 month ago
Nvidia's latest quarterly results fell short of investor expectations, resulting in an 8.4% drop in stock price during late trading. Although the company surpassed many estimates, concerns over the production challenges of its new Blackwell processors dampened investor sentiment. Nvidia's revenue forecast for the third quarter of approximately $32.5 billion failed to impress, overshadowed by high market expectations. The challenges with Blackwell's manufacturing could pose risks to Nvidia's position in the booming AI market, though the CEO remains optimistic about future growth and market demand.
Source: YAHOO
Reported about 1 month ago
Republican Senator Rick Scott has raised concerns with Intel CEO Pat Gelsinger regarding the company's plan to cut over 15,000 jobs, despite receiving nearly $20 billion in U.S. funding aimed at enhancing chip production. He requested clarity on how Intel will ensure that taxpayer dollars are protected and whether these layoffs will affect the company's semiconductor manufacturing efforts.
Source: YAHOO
Reported about 1 month ago
In after-hours trading, Affirm's shares soared following a strong revenue report, while Five Below also saw gains after exceeding sales expectations. Okta's stock dipped due to mixed guidance amid a tough economic climate, whereas Victoria's Secret shares rose after surpassing estimates for net sales and earnings. Meanwhile, Nvidia's stock declined following its second quarter results.
Source: YAHOO
Reported about 1 month ago
Nvidia's recent earnings report exceeded expectations, posting adjusted earnings of $0.68 per share and revenues of $30 billion. However, concerns arise as earnings growth did not match revenue growth, prompting questions about pricing, rising input costs, and the company's investments. Additionally, CFO Colette Kress announced a ramp-up in production of the Blackwell chip, expected to generate significant revenue in the upcoming quarters. Despite strong demand from major tech firms, analysts caution about Nvidia's ability to translate revenue growth into profitability.
Source: YAHOO