Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Citi will reduce its workforce by approximately 3,500 positions at its technology centers in Shanghai and Dalian as part of a global restructuring plan aimed at simplifying operations and enhancing risk management and data governance. The layoffs are expected to be completed by the beginning of the fourth quarter of this year, with some roles being relocated to other Citi tech centers. This move follows a broader effort to cut staff globally and shift from contractor reliance to hiring permanent employees in IT.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
The ongoing struggle for rare earth elements escalates as China, controlling 70% of global supply, tightens its export restrictions, causing disruptions in industries like auto manufacturing. Previously imposed tariffs have led to China's retaliatory measures, resulting in shortages that threaten production for major companies such as Ford and Mercedes-Benz. This situation has prompted urgent calls from global leaders for reduced reliance on Chinese rare earths, while the U.S. is investing in domestic production and seeking access to resources in Ukraine amid these supply challenges.
Source: YAHOO
Reported 2 months ago
Wells Fargo's shares surged over 2% after the Federal Reserve lifted a long-standing asset cap that hindered its growth due to past scandals. While the bank is now free to expand, observers note that market expectations may limit future gains. CEO Charlie Scharf has shifted focus away from traditional banking, bolstering investment banking and trading, with promising early results. Despite a cautious market atmosphere, some analysts have raised their price targets on Wells Fargo stocks.
Source: YAHOO
Reported 2 months ago
Core Scientific Inc. (NASDAQ:CORZ) experienced a significant surge of 6.44% on Wednesday, closing at $12.56, as investors reacted to a new lawsuit from Malikie Innovations regarding patent claims on Elliptic Curve Cryptography (ECC) used in Bitcoin mining. Despite the legal challenges, a lawyer's comment suggested that individual Bitcoin traders might not be adversely affected, boosting market sentiment.
Source: YAHOO
Reported 2 months ago
CoreWeave, Inc. (NASDAQ:CRWV) experienced a significant bump in stock value, rising 8.39% to $163.10, marking its fourth consecutive day of growth. This surge was attributed to the company's announcement of record-breaking results using Nvidia's latest Grace Blackwell chips, achieving the largest-ever benchmark under MLPerf with a submission that was 34 times larger than any other cloud provider's. This follows a major $7 billion deal with Applied Digital Corporation to enhance its AI and high-performance computing infrastructure.
Source: YAHOO
Reported 2 months ago
Reddit, Inc. (RDDT) experienced a 6.68% rise in share prices, closing at $118.21, after announcing a lawsuit against AI firm Anthropic for allegedly using its data to train the Claude chatbot without permission. The lawsuit aims to stop Anthropic's actions, which Reddit claims exploit its content for profit while disrespecting user privacy.
Source: YAHOO
Reported 2 months ago
ImmunityBio, Inc. (IBRX) soared 8.1% to $2.93 per share, marking its fifth consecutive day of gains, following the FDA's approval to expand access to its Anktiva treatment for patients suffering from solid tumors. Company founder Patrick Soon-Shiong highlighted the significance of addressing lymphopenia, a condition linked to higher cancer mortality rates. Following this announcement, HC Wainwright issued a 'buy' recommendation with a price target of $8 for the stock.
Source: YAHOO
Reported 2 months ago
STMicroelectronics N.V. (NYSE:STM) saw a significant surge in its stock price, rising 10.67% to $28.41 amid optimism about meeting its revenue guidance for the second quarter, driven by increased demand for its semiconductors. The company projects revenues of $2.71 billion for the quarter, up 7.7% from the previous quarter, despite reporting a substantial decline in net income and revenues in the first quarter of the year. Additionally, STMicroelectronics is continuing workforce reductions, planning to lay off a total of 5,000 employees over the next three years.
Source: YAHOO
Reported 2 months ago
MP Materials Corp. (NYSE:MP) saw a significant increase in stock price, soaring by 11.73% for a second consecutive day, driven by investor optimism related to China's recent export restrictions on rare earth minerals. As the only US-based producer of these critical materials, MP is anticipated to benefit as industries dependent on rare earth elements might look to non-Chinese suppliers. This surge aligns with a broader effort to enhance domestic manufacturing, following China’s suspension of exports due to geopolitical tensions.
Source: YAHOO
Reported 2 months ago
Recursion Pharmaceuticals, Inc. (RXRX) saw a significant increase of 11.85% in its stock price, closing at $4.91 on Wednesday, following supportive comments from analyst Jim Cramer on Mad Money. Cramer endorsed RXRX as a strong buy, highlighting the company's partnership with Nvidia and the recent FDA decision to streamline drug approval processes using artificial intelligence, positioning Recursion as a key player in the future of pharmaceuticals.
Source: YAHOO
Reported 2 months ago
Peloton Interactive, Inc. (PTON) saw a significant rise in its stock price, increasing by 12.16% to close at $7.47, following the company's announcement of new strategic growth initiatives. During a Bank of America conference, CEO Peter Stern detailed plans for global retail expansion and improved marketing efficiency, aimed at reducing subscriber acquisition costs. The company is also set to pay off $200 million in debt in February 2026 and has appointed new executives to strengthen its operations and drive international growth.
Source: YAHOO
Reported 2 months ago
AST SpaceMobile, Inc. (NASDAQ:ASTS) witnessed a remarkable 13.94% increase in share prices, closing at $28.69, driven by renewed speculation about a collaboration with Jeff Bezos' Blue Origin. The surge followed an Instagram post from board member Adriana Cisneros, who shared a photo with CEO Abel Avellan and Bezos, hinting at exciting developments. Furthermore, recent visits from Blue Origin executives to AST SpaceMobile's headquarters fueled theories that strategic discussions may be underway.
Source: YAHOO
Reported 2 months ago
Applied Digital Corporation (APLD) saw its stock price soar by 29.27% to $13.25 after B. Riley raised its price target from $8 to $15, recommending it as a 'buy.' This surge follows a significant $7 billion lease agreement with CoreWeave, where APLD will supply 250 megawatts of IT load for AI and HPC infrastructure at CoreWeave's data center in North Dakota.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
In a recent podcast by Motley Fool, Jan van Eck, CEO of VanEck, discusses the impact of de-dollarization, the future of Social Security, and the potential of emerging markets, particularly India and China. He emphasizes the importance of long-term trends in investing and presents gold as a valuable asset in a changing economic landscape. Van Eck suggests that India is poised for significant growth and highlights the contrasting views on investing in underperforming markets like Brazil and the potential of digital advancements in India's economy.
Source: YAHOO
Reported 2 months ago
The global millionaire population grew by 600,000 last year, with 94% located in the US, raising concerns for wealth advisors. A significant 81% of inheritors are likely to switch wealth managers within two years, seeking more aggressive investment strategies and digital engagement. As the Great Wealth Transfer unfolds, advisors need to adapt to the next generation's preferences for comprehensive financial services and digital communication to retain clients.
Source: YAHOO
Reported 2 months ago
The U.S. Senate confirmed Federal Reserve Governor Michelle Bowman to the central bank's top regulatory position, with a vote of 48 to 46. Appointed by President Donald Trump, Bowman aims to ease banking regulations and simplify financial rules, asserting that current guidelines are overly complex and costly for banks and consumers.
Source: YAHOO
Reported 2 months ago
President Trump is emphasizing the importance of a personal call with Chinese leader Xi Jinping to alleviate escalating trade tensions between the U.S. and China. However, Xi is demanding concessions that remain unclear, leading to a stalemate in negotiations. Trump's late-night social media posts express frustration over Xi's toughness, as the two nations appear to be talking past each other amid conflicting interests, including technology exports and agricultural trade. Meanwhile, China is shifting its focus towards strengthening trade relations with Europe.
Source: YAHOO
Reported 2 months ago
Circle Internet has successfully raised $1.05 billion through its upsized U.S. initial public offering, pricing its shares at $31 each. This event highlights the growing momentum within the cryptocurrency sector and positions Circle, which issues the USDC stablecoin, at a valuation of approximately $8 billion. As one of the largest IPOs of the year, Circle's listing signifies increased institutional interest in stablecoins and aims to further integrate cryptocurrency into traditional finance.
Source: YAHOO
Reported 2 months ago
DoorDash、Grubhub和Uber Eats与纽约市达成和解，解决了有关限制它们向餐馆收取配送费用的法律诉讼。这一和解允许这些公司在某些情况下收取超出目前法律规定的费用，旨在应对受疫情影响的餐饮行业带来的财政压力。
Source: YAHOO