Reported 3 months ago
Residents near East Palestine, Ohio can now claim $25,000 for injuries sustained in last year's Norfolk Southern train derailment, as part of a $600 million class-action settlement. This amount has increased from the original estimate of $10,000 due to more accurate claims information. However, accepting this payment requires residents to forfeit their right to future lawsuits related to potential long-term health issues, which has raised concerns among many, especially given the incident's significant chemical exposure.
Source: YAHOO
Reported 3 months ago
Citi has successfully shed its reputation as a 'laughingstock' in the banking sector, outperforming competitors with a 20% increase over Morgan Stanley's price target. Under CEO Jane Fraser's leadership, Citi reported strong earnings results driven by a 6% rise in market revenues and a remarkable 38% growth in investment banking. This turnaround comes as the broader banking sector benefits from a revival in capital markets, highlighting Citi’s shift towards excellence in its strategic execution and diverse business model.
Source: YAHOO
Reported 3 months ago
Police have reported that a Tesla vehicle, involved in an accident in April that resulted in the death of a motorcyclist near Seattle, was operating on its self-driving system at the time of the crash.
Source: YAHOO
Reported 3 months ago
Rio Tinto reported a 1.8% rise in underlying earnings to $5.8 billion for the first half of 2024, showing resilience despite China's economic slowdown. The company plans to begin production at its Simandou project in Guinea by 2025, although lower iron ore and aluminum prices have impacted overall earnings.
Source: YAHOO
Reported 3 months ago
AMD shares surged following a robust sales forecast driven by strong demand for its new AI processors, specifically the MI300 series. The company expects to generate over $4.5 billion from these products this year, exceeding previous estimates. AMD's second-quarter revenue rose to $5.84 billion, surpassing analysts' expectations, highlighting its growing competitiveness against Nvidia in the AI accelerator market. Despite some struggles in other product lines, overall momentum in AI investment remains strong according to CEO Lisa Su.
Source: YAHOO
Reported 3 months ago
Pinterest has forecasted lower-than-expected revenue for the upcoming quarter, citing increased competition from platforms like TikTok and Instagram in the digital advertising space. As a result, the company's shares dropped approximately 12% after-hours, losing about $3 billion in value. Despite reporting a 21% increase in second-quarter revenue and a rise in monthly active users, the anticipated revenue of $885 million to $900 million fell short of analysts' expectations, which estimated $906.6 million.
Source: YAHOO
Reported 3 months ago
Microsoft's Azure Cloud growth fell short of expectations in the fiscal fourth quarter, leading to a more than 5% drop in MSFT shares during after-hours trading. Analyst Rishi Jaluria from RBC Capital Markets noted a reversal in trends, highlighting a deceleration in Azure's growth excluding AI investments, contrary to the previous quarter's performance. With AI being a capital-intensive sector, he expects high capital expenditures and ongoing discussions among enterprises about AI usage.
Source: YAHOO
Reported 3 months ago
Procter & Gamble's shrinking sales growth has sparked concerns about the overall economy and consumer spending habits. Yahoo Finance anchor Julie Hyman explores this trend and its potential impact on the market.
Source: YAHOO
Reported 3 months ago
In an interview with Yahoo Finance, Guild CEO Bijal Shah explains how the platform supports career growth by allowing companies to offer curated educational courses to their employees. This initiative aims to equip workers with the necessary skills to meet their career aspirations and fulfill current job demands, promoting a culture of continuous learning and development.
Source: YAHOO
Reported 3 months ago
In the latest episode of Market Domination, hosts Josh Lipton and Julie Hyman discuss key market developments including a significant downgrade of Novavax by JPMorgan, causing its shares to tumble after a recent surge. They highlight trends in AI innovations, with MicroStrategy positioned as a strong investment choice. The show also addresses challenges in the auto sector following major recalls, while JetBlue's recovery process garners positive attention.
Source: YAHOO
Reported 3 months ago
Commvault's shares surged after stronger-than-expected fiscal first quarter earnings, driven by subscription growth. CEO Sanjay Mirchandani emphasized the company's focus on 'cyber resilience' and its substantial investment in innovation, mentioning over 1,100 patents and the Commvault Cloud platform that supports both data center and cloud-native workloads. He also provided insights related to their involvement in the CrowdStrike incident, reflecting on the importance of robust security measures.
Source: YAHOO
Reported 3 months ago
Starbucks reported mixed results for its third quarter, with revenue of $9.1 billion falling short of expectations and a 3% decline in same-store sales, despite adjusted EPS slightly exceeding predictions. Analyst RJ Hottovy notes that while there are signs of improvement and product innovation, the company must focus on increasing customer frequency amidst growing competition in the coffee market.
Source: YAHOO
Reported 3 months ago
In after-hours trading, Match Group's shares surged following a Q2 earnings report that surpassed expectations, while Arista Networks also beat Q2 earnings estimates and provided promising guidance for Q3. In contrast, Live Nation's earnings fell short of estimates, but revenue remained consistent with analyst forecasts.
Source: YAHOO
Reported 3 months ago
Nvidia shares are experiencing a downturn as the Federal Reserve concludes a two-day meeting that could influence upcoming interest rate decisions. Historically, market volatility is anticipated to rise as August approaches, prompting analysts to keep a close watch on these trends.
Source: YAHOO
Reported 3 months ago
Investors are gearing up for a pivotal Wednesday with significant events on the horizon. The Federal Reserve is expected to announce its interest rate decision, with speculation leaning towards a potential rate cut. Additionally, major corporations including Meta, Mastercard, and Boeing will release their quarterly earnings reports. On the economic side, the ADP Employment Report will shed light on private sector job growth, while Pending Home Sales data will indicate trends in the housing market.
Source: YAHOO
Reported 3 months ago
JetBlue Airways has reported profits in its second quarter by significantly reducing costs, following a series of flight cancellations triggered by a cyber incident. Analyst Savi Syth from Raymond James noted that while many airlines are managing to meet or exceed expectations for the second quarter, there may be disappointments in the upcoming third quarter. This optimistic outlook has led to a short squeeze across several airlines, as the industry continues to navigate challenges.
Source: YAHOO
Reported 3 months ago
As the Federal Reserve approaches its interest rate decision, strategist Michael Green criticizes the Fed's past actions, particularly under Chairman Powell, calling it 'a series of panics.' He argues that the Fed is 'way late' in cutting rates, despite recent inflation levels returning to historical norms, and expresses concerns that the central bank lacks a comprehensive understanding of how interest rates impact inflation.
Source: YAHOO
Reported 3 months ago
Novavax stock has seen a significant decline after JPMorgan downgraded its rating from Neutral to Underweight. This follows a remarkable 250% surge in the stock price since May, driven by a strategic partnership announcement with Sanofi. Analysts are discussing the implications of this downgrade and the factors influencing the stock's recent performance.
Source: YAHOO
Reported 3 months ago
Futurum Group CEO Daniel Newman highlights the current pivotal moment in AI development, urging companies, particularly in Big Tech, to invest significantly in AI technologies. He warns that failing to do so could lead businesses astray as they navigate a changing landscape of work and technology. Newman predicts a necessary adjustment period before the advantages of these investments are fully realized, noting that many knowledge workers are uncertain about the implications for their jobs and future.
Source: YAHOO
Reported 3 months ago
AMD reported better-than-expected earnings for Q2 2024, with adjusted earnings per share of $0.69 and revenue of $5.8 billion, driven by strong demand for AI-related products. The company's Data Center revenue skyrocketed by 115% from the previous year, reflecting a robust performance in the growing AI sector. Following the announcement, AMD shares rose over 9% in pre-market trading.
Source: YAHOO
Reported 3 months ago
Former President Donald Trump's recent comments and criticisms have reignited fears in the stock market, leading to significant declines in companies and sectors he targets. Despite claiming credit for market highs during his presidency, many analysts highlight the negative impact of his statements, particularly on tech and green energy stocks. As Trump intensifies his rhetoric about economic inequality and corporate accountability, concerns grow about the potential market volatility if he were to return to power, suggesting that investors should be wary of the 'Trump Dump.'
Source: YAHOO
Reported 3 months ago
U.S. stock markets experienced a mixed closing, with the Dow Jones Industrial Average rising by 0.51% while the Nasdaq, heavily populated by tech stocks, fell by 1.28%. The S&P 500 also dropped by 0.5%. This decline is attributed to a shift from large tech companies to smaller capitalization stocks, following disappointing second-quarter results from major tech players like Alphabet.
Source: YAHOO
Reported 3 months ago
The recent sharp decline in Nvidia's stock, which dropped 7% in one day, highlights the increasing volatility surrounding the AI-driven stock surge. Despite its stock being up about 109% this year, concerns about the sustainability of AI investments and a shift towards smaller companies have led to a significant market value loss for Nvidia, signaling potential further declines.
Source: YAHOO
Reported 3 months ago
Microsoft's stock dropped more than 7% in after-hours trading following disappointing earnings reports, despite an overall revenue increase of 21%. The company reported a fiscal fourth quarter EPS of $2.95 and revenue of $64.7 billion, outperforming analyst expectations. However, the cloud sector, particularly the Azure services, fell short with Intelligent Cloud revenue at $28.5 billion, missing estimates of $28.7 billion. This setback in AI-driven growth led to broader declines in AI-focused stocks.
Source: YAHOO
Reported 3 months ago
US stock markets fell, with the Nasdaq declining roughly 1.3%, largely influenced by a 7% drop in Nvidia's shares. The S&P 500 also fell by 0.5%, as investors awaited earnings reports from major companies like Microsoft and AMD. This week is pivotal, with a Federal Reserve policy meeting and key economic updates expected, raising concerns about the tech sector's performance amid uncertainties in AI investments.
Source: YAHOO