Reported about 2 months ago
Apple's AI initiative, termed 'Apple Intelligence', is driving significant advancements but comes with inherent risks as it navigates the competitive tech landscape. MoffettNathanson rates Apple as Neutral with a price target of $211, cautioning that capitalizing on new hardware and subscription services simultaneously is challenging. Analysts also point to external pressures, such as Google's antitrust issues, that may impact Apple's performance moving forward.
Source: YAHOO
Reported about 2 months ago
As Nvidia prepares to release its Q2 earnings on August 28th, investors are keenly awaiting updates on demand trends and the introduction of its new product, Blackwell. Portfolio Manager Tony Wang emphasizes the significance of product innovation for Nvidia's performance and future market demand. Additionally, he discusses the broader tech industry's engagement in AI and the evolving returns from these developments.
Source: YAHOO
Reported about 2 months ago
Insigneo's Chief Investment Officer Ahmed Riesgo warns that ongoing weaknesses in the labor market may drive U.S. unemployment to 6%, citing a drop in labor demand coupled with an increase in labor supply. While consumer job stability currently supports spending, a rise in unemployment could destabilize consumer confidence. He advises investors to focus on sectors such as utilities and healthcare as potential safe havens in this uncertain economic climate.
Source: YAHOO
Reported about 2 months ago
In a recent interview, former President Trump expressed admiration for Tesla CEO Elon Musk and hinted at potentially involving him in a future administration. However, he also indicated that he might eliminate the $7,500 tax credit currently offered to electric vehicle buyers, including those purchasing Teslas.
Source: YAHOO
Reported about 2 months ago
Palo Alto Networks (PANW) experienced a significant rise in both pre-market and regular trading hours following the release of its fiscal fourth-quarter earnings, which exceeded analyst expectations. The cybersecurity firm reported $2.2 billion in revenue, surpassing the anticipated $2.16 billion, alongside adjusted earnings of $1.51 per share, beating the expected $1.41 per share. The company's earnings breakdown and strategies for future revenue growth were discussed by analysts Seana Smith and Brad Smith.
Source: YAHOO
Reported about 2 months ago
Disney has reversed its request to dismiss a wrongful death lawsuit linked to an allergic reaction experienced by a doctor after dining at a restaurant in Disney Springs. The company had previously argued that the victim's family could not sue because they had signed up for Disney+, which included arbitration clauses. However, Disney's theme park division leader stated that the company would allow the lawsuit to proceed in court, emphasizing their commitment to handle the situation with sensitivity due to the family's tragic loss.
Source: YAHOO
Reported about 2 months ago
According to a CBRE report, North America has witnessed a remarkable 70% increase in data center supply under construction, reaching a record 3.9 gigawatts. This surge is driven by the escalating power demands from major tech companies expanding their AI and cloud capabilities. In the first half of 2024, the rollout of new data centers has resulted in a significant increase in inventory and a record low vacancy rate of 2.8%. The demand is also likely to favor smaller markets as users seek facilities capable of meeting modern power requirements.
Source: YAHOO
Reported about 2 months ago
Media mogul Edgar Bronfman Jr. has officially submitted a $4.3 billion bid to acquire Paramount Global, competing with David Ellison's Skydance Media during the designated 'go-shop' period for the company. Formerly the chairman and CEO of Warner Music Group, Bronfman currently heads FuboTV.
Source: YAHOO
Reported about 2 months ago
A yacht sank off the Sicilian coast, leaving six passengers missing, including British tech entrepreneur Mike Lynch, who was celebrating his recent legal victory. Lynch, along with his daughter and members of his legal team, were aboard when the yacht was struck by a waterspout. Among those missing are prominent figures like lawyer Christopher Morvillo and Jonathan Bloomer, chairman of Morgan Stanley's London unit. The incident follows Lynch's acquittal in a high-profile fraud case, and it adds further tragedy to recent events, including the death of another associate just days earlier.
Source: YAHOO
Reported about 2 months ago
Lowe's reported mixed results for the second quarter, missing revenue estimates with $23.59 billion against the anticipated $23.9 billion but exceeding profit expectations at $4.10 per share versus $3.97. The retailer also fell short of same-store sales forecasts and adjusted its full-year outlook downward due to economic pressures.
Source: YAHOO
Reported about 2 months ago
U.S. stock market averages opened slightly lower, just below their flatlines, as the Nasdaq Composite and S&P 500 seek to extend their winning streaks following eight consecutive days of gains. Analysts discuss the tech-driven rally boosting stocks in late August, with the S&P 500 moving out of correction territory.
Source: YAHOO
Reported about 2 months ago
The first night of the Democratic National Convention showcased key speeches from President Biden, Hillary Clinton, and Jill Biden, with a surprise appearance by Vice President Kamala Harris. Yahoo Finance's Rick Newman shares notable takeaways from this impactful evening.
Source: YAHOO
Reported about 2 months ago
Investors expect a Federal Reserve rate cut in September, likely around 25 basis points, according to ING Chief International Economist James Knightley. He believes the Fed is becoming cautious despite positive inflation data and emphasizes their dual focus on achieving a 2% inflation target and maximizing US employment. Knightley suggests that upcoming commentary from Fed Chair Jerome Powell at the Jackson Hole meeting should acknowledge recent economic improvements, which may lead to a series of rate cuts.
Source: YAHOO
Reported about 2 months ago
Amazon's increased spending on artificial intelligence is causing concern among investors, resulting in stock performance that lags behind its tech peers. Amid this shift back to investment, worries about declining profitability and a reluctance to return cash to shareholders weigh heavily on market sentiment, despite a recent uptick in stock prices.
Source: YAHOO
Reported about 2 months ago
A superyacht named Bayesian sank off the coast of Sicily due to a severe storm, leading to the disappearance of six individuals, including British tech mogul Mike Lynch. Rescue teams are conducting underwater searches, but only one body has been recovered so far, with 15 others reported safe. Investigations are underway to uncover details surrounding the incident, while authorities anticipate completing the challenging rescue operation.
Source: YAHOO
Reported about 2 months ago
European Union regulators are set to lower the proposed tariffs on electric vehicles from Tesla and other Chinese manufacturers, including SAIC, Geely, and BYD. This announcement has resulted in a slight increase in Tesla's stock price during pre-market trading.
Source: YAHOO
Reported about 2 months ago
Alaska Air has progressed in its plan to acquire Hawaiian Airlines after the U.S. Department of Justice opted not to challenge the $1 billion merger deal. Alaska Air offered $18 per share, including Hawaiian's debt. Both airlines aim to maintain their brand identities post-merger and believe they can better compete against the major U.S. carriers. While the Justice Department's exit is notable, final approval is still pending from the Department of Transportation. If completed, this would be the first major airline merger in the U.S. since 2016.
Source: YAHOO
Reported about 2 months ago
As Wall Street anticipates the release of the Federal Reserve's latest meeting minutes, strategists are keen to glean insights on when the ongoing balance-sheet unwinding may conclude. With expectations for a potential end later this year, the focus is on revealing details around interest rates and bank reserve levels following recent shifts in monetary policy tools, particularly amidst concerns over liquidity and Treasury supply.
Source: YAHOO
Reported about 2 months ago
Kroger Co. is initiating a significant dollar bond sale potentially worth around $10 billion to finance its acquisition of Albertsons Cos. This move comes amidst legal uncertainties regarding the deal, with a trial set to start soon to address the Federal Trade Commission’s lawsuit aimed at blocking the merger. The bond offering, one of the largest of the year, may include provisions for mandatory redemption if the acquisition does not go through.
Source: YAHOO
Reported about 2 months ago
Qatar Airways announced its acquisition of a 25% stake in the South Africa-based airline Airlink, which operates flights to over 45 destinations in southern and East Africa. This investment aims to strengthen the existing code-share agreement between the two airlines, highlighting Qatar Airways' commitment to expanding its presence in the African market.
Source: YAHOO
Reported about 2 months ago
Donald Trump's recent suggestion of implementing 20% tariffs on foreign imports has reignited trade discussions as part of his 2024 presidential campaign. During rallies, Trump framed these tariffs as a necessary response to nations he claims have exploited the U.S. economically. However, his plan has drawn criticism from Democrats like Kamala Harris, who likened it to a 'national sales tax,' and from economists who argue that tariffs ultimately increase costs for American consumers. As the trade debate unfolds, both sides are showcasing their strategies to address trade policies leading up to the election.
Source: YAHOO
Reported about 2 months ago
Wells Fargo has agreed to sell the majority of its commercial mortgage servicing business to Trimont LLC, which will elevate Trimont to the status of the largest US commercial mortgage servicer. The deal, expected to be finalized early next year, involves Wells Fargo transferring servicing responsibilities for approximately $475 billion in loans. This sale aligns with Wells Fargo's strategy to focus on core businesses while Trimont aims to capitalize on upcoming debt servicing opportunities.
Source: YAHOO
Reported about 2 months ago
Stock futures are mixed as investors anticipate a potential interest rate cut by the Federal Reserve. Lowe's reported second quarter results that fell short of expectations, leading to a reduction in its full-year guidance. Meanwhile, President Biden addressed the Democratic National Convention, endorsing Vice President Kamala Harris for the 2024 presidential election.
Source: YAHOO
Reported about 2 months ago
BMW announced that its joint venture in China producing the electric Mini has been classified as a 'cooperating company' under the EU's latest tariff guidelines, allowing it to qualify for a reduced tariff of 21.3%. Initially, the Mini was subject to a higher tariff of 37.6% due to its exclusion from Brussels' analysis, but the new classification has altered its duty status.
Source: YAHOO
Reported about 2 months ago
AI startup Recogni has unveiled a new computing method named Pareto, aimed at making its AI training chips smaller, faster, and more affordable. Supported by major backers like BMW and Bosch, Pareto utilizes a logarithmic approach that improves efficiency and reduces power consumption by converting multiplication operations into additions. The company has tested this innovative system on AI models from Meta and Stability AI and plans future partnerships for broader implementation.
Source: YAHOO