Reported 3 months ago
Colombian state oil company Ecopetrol has agreed to purchase 10 renewable energy project developers from Norway's Statkraft as the latter exits the Colombian market. The acquisition, which has a potential capacity of up to 1.3 gigawatts, aims to support Ecopetrol's domestic energy needs, although the transaction's value remains undisclosed. The deal awaits regulatory approval and is part of Ecopetrol's broader strategy to enhance its renewable energy investments.
Source: YAHOO
Reported 3 months ago
Elon Musk announced that Tesla and xAI will persist in purchasing chips from Nvidia and AMD, as the latter prepares to construct a new facility near Memphis to accommodate 1 million GPUs. Musk highlighted the need for GPUs for Tesla's Optimus humanoid robots, asserting the company's commitment to buy from Nvidia as long as their chips remain superior.
Source: YAHOO
Reported 3 months ago
Shares of Strategy (previously MicroStrategy), the largest corporate holder of bitcoin, have risen 75% from their April low, tracking the recovery of bitcoin, which has reached over $107,000. Investors should monitor significant price levels, with potential overhead resistance at $440 and a target of $945, while crucial support levels are at $230 and $180 as the stock continues its upward trend.
Source: YAHOO
Reported 3 months ago
The GENIUS bill, aimed at regulating stablecoins within the crypto industry, is making progress in the Senate, but critics express concerns over potential corruption linked to its proponents, particularly the Trump family. They fear the bill may allow major tech companies to operate like banks without adequate safeguards, raising alarms about a future financial crisis triggered by these entities, reminiscent of past economic collapses. Some Democratic senators have reluctantly supported the bill, acknowledging the inevitability of blockchain technology while highlighting the troubling implications of unregulated cryptocurrency.
Source: YAHOO
Reported 3 months ago
Currency options traders are experiencing unprecedented negativity towards the dollar, with one-year risk reversals indicating a strong preference for puts over calls. This bearish sentiment has intensified amidst concerns over US fiscal policy and rising government debt, resulting in a significant decline in the Bloomberg Dollar Spot Index. Despite hopes for a temporary relief in US-China trade tensions, the outlook remains bleak, leading to increased positions betting against the dollar.
Source: YAHOO
Reported 3 months ago
In recent interviews, Tesla CEO Elon Musk highlighted his dedication to the company and its upcoming robotaxi launch, asserting he will remain in his role for at least the next five years. Analyst Dan Ives observed a noticeable shift in Musk's focus compared to recent months, emphasizing his commitment to Tesla over political engagements. Musk is optimistic about the potential for hundreds of thousands of autonomous vehicles on the roads by the end of 2026, despite the company's stocks facing challenges this year.
Source: YAHOO
Reported 3 months ago
Keysight Technologies surpassed Wall Street predictions for second-quarter revenue and profit, fueled by strong sales in its communications division, resulting in a 5% increase in its share value. The company reported earnings of $1.70 per share, above the estimated $1.65, with communication sales hitting $913 million, up 9% year-over-year. Overall revenue rose 7.4% to $1.31 billion, exceeding forecasts, and Keysight raised its annual revenue growth target to 5%-7%.
Source: YAHOO
Reported 3 months ago
Kraft Heinz is considering merger and acquisition opportunities due to a decline in consumer demand for its premium snacks and ready-to-eat meals. The company acknowledged challenges such as increasing tariffs and a shift towards healthier food options driven by weight-loss drugs. Furthermore, Berkshire Hathaway announced it will no longer hold board seats, although it maintains a 27.5% stake in Kraft Heinz. The company has faced scrutiny from investors, particularly after its costly merger in 2015.
Source: YAHOO
Reported 3 months ago
On May 20, 2025, the S&P 500 fell 0.4%, breaking a six-day winning streak as investor confidence in trade and inflation wavered. FICO shares plunged 8.1% following scrutiny from a federal housing official regarding pricing. Other notable performances included Moderna's stock rising 6.1% after FDA updates on vaccine boosters, while AES Corp. and Norwegian Cruise Line saw declines due to analysts' concerns over valuation and consumer confidence.
Source: YAHOO
Reported 3 months ago
On a troubling day for U.S. assets, Japan's long-term bond yields soared to a record high of 3.14%, reflecting increasing investor concerns over fiscal health and global economic dynamics. This surge follows a weak auction of 20-year securities, highlighting declining demand for long-term government debt, particularly in Japan, which faces a staggering debt-to-GDP ratio. Meanwhile, U.S. markets grapple with the aftermath of a credit downgrade and ongoing political challenges surrounding tax legislation.
Source: YAHOO
Reported 3 months ago
Walmart plans to raise prices starting this month, primarily affecting electronics and toys while attempting to keep grocery prices stable. This move may encourage smaller retailers to also increase their prices, as Walmart's status as a price leader allows them to justify similar adjustments. The company acknowledges the pressure of import tariffs but aims to limit overall price hikes to maintain competitive gaps.
Source: YAHOO
Reported 3 months ago
BMX Transport, a Georgia-based trucking company, has filed for Chapter 11 bankruptcy, disputing claims from its top creditors, which include a $250,000 negligence claim and a $246,194 property damage claim. The company owes between $1 million to $10 million to approximately 100 to 199 creditors, while also facing a lawsuit from Old Second National Bank for $141,392 related to equipment financing. BMX operates 49 trucks and has been involved in five accidents in the past two years.
Source: YAHOO
Reported 3 months ago
Fighting freight fraud entails a comprehensive, multi-layered strategy crucial for preserving business relationships and reputations. Truckstop’s approach includes advanced tools and filters, such as the Authority Age Filter and Risk Factors, which help carriers and brokers navigate potential scams more effectively. By leveraging data and adopting new security measures, Truckstop has significantly reduced fraud incidents and continues to enhance its protective measures against increasingly sophisticated fraud attempts.
Source: YAHOO
Reported 3 months ago
Federal Reserve officials have signaled that interest rates are unlikely to be cut in their upcoming June and July meetings, as they await clarity on the impact of President Trump's tariffs on the economy. With uncertainty surrounding the job market and inflation, Fed officials advocate for a cautious approach, emphasizing the need to collect more data before making monetary policy decisions.
Source: YAHOO
Reported 3 months ago
Palo Alto Networks reported a fiscal third-quarter revenue of $2.29 billion, a 15% increase year-over-year, exceeding analysts' expectations, largely due to a 34% rise in annual recurring revenue from its next-generation security services. The adjusted net income also rose to $560.9 million or 80 cents per share, outperforming the previous year's figures. Looking ahead, the company forecasts adjusted earnings per share between 87 and 89 cents with projected revenue slightly ahead of market expectations.
Source: YAHOO
Reported 3 months ago
At the Momentum '25 conference in Las Vegas, Manhattan Associates introduced new supply chain offerings under the leadership of newly appointed CEO Eric Clark. This event marked Clark's debut following the transition from former CEO Eddie Capell. The conference highlighted advancements in agentic AI technology, which will enhance automation and workflow management through tailored applications. Furthermore, Manhattan announced an expanded partnership with Google, allowing users to access their services via Google Marketplace, promoting a unified platform that integrates various warehouse and transportation management systems for better efficiency.
Source: YAHOO
Reported 3 months ago
Argentina has approved a $2.5 billion lithium mining project by Rio Tinto in Salta province, marking the first project under a new investment incentive regime. This approval comes amid concerns over delays for other mining projects and is part of President Javier Milei's efforts to boost the mining sector, crucial for bringing in foreign currency and stabilizing the economy amidst high inflation. Argentina, a key player in the global lithium market, aims to enhance its mining sector while also working on gold, silver, and copper projects.
Source: YAHOO
Reported 3 months ago
Elon Musk has reaffirmed his commitment to lead Tesla for the next five years, emphasizing the company's innovative potential as it prepares to launch a robotaxi beta in Austin, Texas. Analysts discuss how Tesla's focus on a camera-based system for its robotaxis may provide a cost advantage over competitors like Waymo. However, the potential repeal of the EV tax credit could impact Tesla's stock and overall demand for electric vehicles in the U.S.
Source: YAHOO
Reported 3 months ago
Google has launched a new 'AI Mode' for U.S. search users, allowing them to interact with an AI chatbot directly within search results. This innovative feature was unveiled by CEO Sundar Pichai at the I/O conference and is designed to transform the search experience. Users can now converse naturally as they would with AI platforms like ChatGPT. The company also announced a new subscription service called Google AI Ultra, priced at $249.99 per month, which provides additional advanced AI tools and features.
Source: YAHOO
Reported 3 months ago
Source: YAHOO
Reported 3 months ago
On May 20, 2025, major US stock indexes experienced declines as market momentum slowed following a recent rally. The S&P 500 fell 0.4%, marking its first drop in a week, while the Dow Jones Industrial Average and Nasdaq composite both dropped by 0.3% and 0.4%, respectively. Concerns about consumer spending on travel impacted the stocks of related companies, amidst stable US Treasury yields and a steady dollar.
Source: YAHOO
Reported 3 months ago
Elon Musk announced his commitment to serving as CEO of Tesla for at least the next five years during an interview at the Qatar Economic Forum. Despite concerns over declining sales and reports indicating the need for a new CEO, Musk reaffirmed his focus on the future of Tesla, particularly on autonomy and the development of the Optimus humanoid robot. He also addressed issues surrounding his compensation package, asserting it is crucial for maintaining control over company decisions.
Source: YAHOO
Reported 3 months ago
President Donald Trump has committed to having a 'Golden Dome' missile-defense system operational within three years, aiming to safeguard the U.S. from various threats, including ballistic and hypersonic missiles. He referenced former President Ronald Reagan's vision of a space-based defense and stated that the final cost could reach $175 billion. The initiative has garnered interest from defense contractors, with the potential cost of development pegged at $542 billion over two decades.
Source: YAHOO
Reported 3 months ago
The FDA has released new guidelines for COVID-19 vaccines, leading to a rise in shares for Moderna and Pfizer, while Novavax experienced a decline. D-Wave Quantum's stock surged over 26% following the announcement of its Advantage 2 quantum computer. In contrast, Viking Holdings faced a drop in stock price despite reporting strong earnings for the first quarter, with concerns about its future booking rates.
Source: YAHOO