Reported 3 months ago
Remy Cointreau has appointed Franck Marilly as its new CEO, replacing Eric Vallat, who resigned after leading the company through the pandemic and a subsequent luxury spirits boom. Marilly, a luxury industry veteran, will take office on June 25 and is tasked with reversing the decline in sales due to economic pressures and tariffs affecting the brand's key markets in the U.S. and China. He aims to maintain the company’s focus on high-end brand value while navigating the challenges ahead.
Source: YAHOO
Reported 3 months ago
British American Tobacco has sold a $1.5 billion stake in India's ITC, comprising 313 million shares at 413 rupees each, exceeding its initial plan. The sale, conducted through a block deal, resulted in a slight discount from ITC's closing price and caused the shares to drop nearly 3%. Despite this, BAT will remain the largest shareholder in ITC and plans to enhance its share buyback program following the deal.
Source: YAHOO
Reported 3 months ago
On May 28, Wall Street will focus on first-quarter earnings from Nvidia, Salesforce, HP, and Abercrombie & Fitch. Nvidia is expected to report strong results driven by high demand for its Blackwell chips, while Salesforce analysts anticipate no major slowdown. Additionally, minutes from the recent FOMC meeting will provide insights into the Fed's interest rate decisions.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
Okta (OKTA) reported a Q1 earnings per share of $0.86, surpassing estimates of $0.77, and showed a revenue of $688 million, exceeding the forecast. This performance reflects an 11.69% earnings surprise and continues Okta's trend of exceeding earnings expectations for four consecutive quarters. However, the current outlook for the stock remains cautious with a Zacks Rank #4 (Sell), indicating anticipated underperformance in the near future.
Source: YAHOO
Reported 3 months ago
Nvidia is set to announce its Q1 earnings, with analysts predicting earnings per share of 88 cents on revenue of $43.4 billion, reflecting significant growth in data centers despite challenges from US chip restrictions on China. Key focuses will include data center revenue and the impact of the $5.5 billion charge linked to sales bans of Nvidia's H20 chips in China. There are discussions on Nvidia's strategy to navigate these challenges, including potential adaptations of their chips for the Chinese market and their expansion into regions like the Middle East.
Source: YAHOO
Reported 3 months ago
General Motors is committing $888 million to enhance engine production at its Tonawanda propulsion plant in Buffalo, New York, shifting focus from earlier plans for electric vehicle drive units. This investment will support the development of a new generation V8 engine aimed at improving fuel efficiency for full-size trucks and SUVs. Governor Kathy Hochul announced that the project would secure 870 jobs, with significant tax credits offered by the state. Despite a strategic pivot in response to EV market demand, GM remains committed to its plans for transitioning to electric vehicles.
Source: YAHOO
Reported 3 months ago
Traders are approaching Nvidia's upcoming earnings report with caution, as indicated by the heavy trading of put options in the VanEck Semiconductor ETF, reflecting concerns about potential volatility in the semiconductor sector. Over the past 10 days, about 2.4 put options were traded for every call option, marking the most defensive trading in months. While Nvidia itself saw mixed options action, overall investor interest remains high, especially as Nvidia, accounting for 20% of the ETF's assets, prepares to report its results.
Source: YAHOO
Reported 3 months ago
PG&E, California's largest electric utility, has recorded a more than 40% increase in requests for power supplies from data center developers in the northern part of the state this year. Despite challenges such as high land costs and electricity prices, PG&E is optimistic about the potential for growth, noting an increase in both the number of data center projects and their capacity. The utility recently initiated a process for developers to connect to its power system, revealing substantial interest in new projects, particularly those tailored for AI applications.
Source: YAHOO
Reported 3 months ago
New Fortress Energy has received a notice from Nasdaq for failing to comply with its listing rules by not submitting quarterly reports to the U.S. Securities and Exchange Commission. The company has 60 days to propose a compliance plan after citing delays in its business sale in Jamaica and the resignation of its accounting chief. It plans to file its pending Form 10-Q before the November deadline, despite recent financial struggles and a quarterly loss due to weak performance and high gas acquisition costs.
Source: YAHOO
Reported 3 months ago
Sinobec Group Inc., a Canadian aluminum trader, has filed for bankruptcy in the U.S. and Canada, citing the detrimental effects of the U.S. trade war, particularly tariffs imposed by former President Trump. The company, which struggled with $170 million in debt and significant operational challenges, reported that the trade conflict severely impacted its cash flow and ability to collect accounts receivable. With a plan to sell itself while under court supervision, Sinobec aims to repay creditors amidst a restructuring wave expected in the U.S. economy.
Source: YAHOO
Reported 3 months ago
Spanish bank BBVA has announced plans to invest over 100 billion pesos (approximately $5.19 billion) in Mexico by 2030, emphasizing its commitment to the country's growth and its 30 million customers. The investment aims to enhance corporate banking operations and improve customer service in Mexico.
Source: YAHOO
Reported 3 months ago
Motorola Solutions plans to acquire Silvus Technologies, a wireless-radio manufacturer, for $4.4 billion to enhance its communications segment amid growing market demand and geopolitical tensions. The deal, which is expected to close later this year, includes a potential earn-out for Silvus based on future performance. Founded in 2004, Silvus produces advanced communication systems and has integrated AI into its operations, aligning with Motorola's strategy to improve its emergency response technologies.
Source: YAHOO
Reported 3 months ago
On May 27, 2025, major US stock indexes experienced significant gains as Wall Street rallied following President Donald Trump's decision to delay a 50% tariff on European goods. The S&P 500 rose 2%, with notable increases in the Dow Jones Industrial Average and Nasdaq composite as well. This rebound followed a dip related to the tariff announcement, bolstered by a positive U.S. consumer confidence report and strong performances from companies like Nvidia.
Source: YAHOO
Reported 3 months ago
Source: INVESTORS
Reported 3 months ago
The S&P 500 experienced a 2% increase following President Trump's decision to delay the implementation of a 50% tariff on goods imported from the European Union.
Source: YAHOO
Reported 3 months ago
President Trump threatened to cut federal funding to California, accusing Governor Newsom of not enforcing an executive order barring transgender athletes assigned male at birth from competing in women's sports. Trump expressed his intent to discuss the situation with Newsom after a recent change in California's high school sports rules, allowing more inclusivity for biological female athletes. Despite Trump's allegations, participation of transgender athletes in women’s sports remains low.
Source: YAHOO
Reported 3 months ago
US stocks have increased since April amid market instability and potential tariffs, but investor confidence is wavering. According to Barron's Al Root, Nvidia's earnings report, expected to show significant sales growth despite supply constraints, will be vital for the future of the AI market and could influence overall market sentiment.
Source: YAHOO
Reported 3 months ago
New York has successfully obtained a temporary court ruling preventing the Trump administration from withholding federal approvals and funds for the state's congestion pricing initiative aimed at reducing traffic and raising funds for public transit. U.S. District Judge Lewis Liman's decision allows the Metropolitan Transportation Authority to continue implementing the tolls while a legal battle over the program's legitimacy unfolds, marking a significant victory for the state amidst federal opposition.
Source: YAHOO
Reported 3 months ago
Nuclear stocks saw significant gains on Tuesday due to executive orders signed by President Trump aimed at expediting the approval of new reactors and enhancing fuel supply chains. Companies like NuScale Power and Oklo are expected to benefit immensely, with NuScale shares nearing record highs. Analysts predict a rise in demand for energy from AI computing, which could further boost the nuclear sector.
Source: YAHOO
Reported 3 months ago
Apple Inc. is set to introduce a dedicated gaming app across its devices, including iPhone and Mac, just before Nintendo's Switch 2 launch. The app will function as a centralized hub for game titles, achievements, and communication, aiming to enhance the gaming experience on Apple platforms. Despite its significant App Store revenue from games, Apple doesn't have a strong gaming reputation, especially compared to Windows. The new app is part of upcoming software updates, expected to be unveiled at the Worldwide Developers Conference on June 9.
Source: YAHOO
Reported 3 months ago
About 3,000 machinists at Pratt & Whitney in Connecticut ended a three-week strike after agreeing to a new four-year contract, which included wage increases and improved retirement benefits. With 74% voting in favor, workers are set to return to their jobs as the contract ensures continued operations at the company's plants through 2029.
Source: YAHOO
Reported 3 months ago
The Trump administration is expanding its investigation into antisemitism on college campuses, now including the University of California system. Leo Terrell, head of the Justice Department’s antisemitism task force, warns of potential massive lawsuits against the UC schools, citing claims of creating a hostile atmosphere for Jewish students. The administration's scrutiny comes amid widespread protests on campuses and questions about admissions practices and funding. UC officials express their commitment to combating antisemitism while cooperating with the investigation.
Source: YAHOO
Reported 3 months ago
The 4% rule is a guideline for retirees that suggests withdrawing 4% of their total savings in the first year of retirement, adjusting for inflation in subsequent years. With two-thirds of Americans fearful of outliving their savings, financial experts emphasize personalizing this approach to meet individual needs—considering factors such as retirement duration, investment strategy, and spending flexibility—to ensure a sustainable income throughout retirement.
Source: YAHOO
Reported 3 months ago
Nvidia is set to report its first quarter results on May 28 amidst ongoing US export restrictions impacting its business in China, where its market share for AI chips has dropped significantly. Following a ban on shipping its H20 chips to China, Nvidia plans to introduce a new, lower-priced AI chip targeting this crucial market, which constitutes about 13% of its sales. CEO Jensen Huang emphasizes the importance of the burgeoning $50 billion Chinese AI market, highlighting the potential losses if Nvidia fails to compete effectively.
Source: YAHOO