Reported 11 days ago
Texas has imposed a $9.5 million fine on Booking Holdings, the parent company of Booking.com, due to allegations of misleading pricing practices that did not clearly disclose mandatory hotel fees until later in the booking process. The settlement, announced by Attorney General Ken Paxton, is the largest of its kind in the U.S. travel industry and mandates that the company display total prices, including all fees, upfront. While Booking did not admit wrongdoing, it has committed to enhancing transparency in pricing.
Source: YAHOO
Reported 11 days ago
Nvidia CEO Jensen Huang discusses the company's relationship with President Trump, emphasizing the administration's commitment to ensuring the US leads in artificial intelligence (AI). Huang highlights the importance of the AI sector for national and economic security, and notes recent deals allowing Nvidia to sell chips to China, which is critical given China’s significant presence in global AI research and development. Huang expresses optimism about competing in the rapidly growing AI market and its potential benefits for the US economy.
Source: YAHOO
Reported 11 days ago
Nvidia reported Q2 earnings that exceeded Wall Street predictions, although data center revenue fell short of expectations. CEO Jensen Huang elaborated on the demand for data centers, the implications of political dynamics under President Trump, and the potential of the Chinese market. Huang emphasized AI's transformative impact across various sectors and Nvidia's advancements in gaming technology, highlighting the success of the Nintendo Switch 2.
Source: YAHOO
Reported 11 days ago
NetApp's revenue forecast for the second quarter slightly exceeded expectations, yet shares fell nearly 6% as companies curtail spending on cloud storage amid economic uncertainties. The company, which serves major clients like Amazon and Microsoft, projected revenues between $1.615 billion and $1.765 billion, with an adjusted profit estimate of $1.84 to $1.94 per share. Although its quarterly revenue slightly surpassed estimates, rising interest rates and inflation are impacting demand for its services.
Source: YAHOO
Reported 11 days ago
National Australia Bank has appointed Inder Singh as its new Chief Financial Officer, effective March 2026. Singh, who previously served as finance chief at QBE Insurance since 2018, brings over 20 years of experience in financial services and investment banking, having worked at major institutions like Deutsche Bank and UBS. The current acting CFO, Shaun Dooley, will return to his role as Chief Risk Officer once Singh takes over.
Source: YAHOO
Reported 11 days ago
Eli Lilly has temporarily halted shipments of its weight-loss drug Mounjaro in the UK due to an impending price increase of up to 170% set for next month. The company aims to manage supply and ensure access for patients, with plans to resume orders on September 1. The price for a month's supply of the highest dose will rise from 122 pounds to 330 pounds.
Source: YAHOO
Reported 11 days ago
In a discussion about the semiconductor sector, Ali Mogharabi from WestEnd Capital Management highlights three notable chip stock picks besides Nvidia: AMD, Broadcom, and ASML. Mogharabi suggests that while Nvidia remains a market leader, AMD is positioned to gain market share, particularly in AI, and emphasizes Broadcom's role in customized AI chips. He also notes ASML's critical position in chipmaking equipment, making it an important player as demand for AI chips grows.
Source: YAHOO
Reported 11 days ago
Nvidia reported record sales of $46.7 billion for the second quarter, a 56% year-over-year increase, driven by demand for AI-related data center business and its new Blackwell chip generation. The company's net income also surged to $26.4 billion, up 59% from last year. Despite restrictions on chip sales to China and no sales of its H20 chip in the region, Nvidia expects to generate $54 billion in revenue for the upcoming quarter.
Source: YAHOO
Reported 11 days ago
The Trump administration's push for Fed Governor Lisa Cook to resign has sparked fears about the independence of the Federal Reserve. With a letter proclaiming Cook's immediate dismissal amid allegations, experts weigh in on the potential implications for monetary policy and the Fed's ability to operate without political influence, especially as the economic outlook shows inflation slightly above target and risks of rate cuts being influenced by political agendas.
Source: YAHOO
Reported 11 days ago
Due to severe understaffing issues, 911 centers are turning to AI technology to manage non-emergency calls. Aurelian, a startup that initially focused on appointment bookings, has pivoted to create an AI voice assistant designed to handle non-urgent issues such as noise complaints and parking violations, allowing human dispatchers to focus on real emergencies. The AI has been implemented in several dispatch centers since May 2024, addressing the high-pressure environment and turnover rates in emergency dispatch roles.
Source: YAHOO
Reported 11 days ago
Gold Reserve has filed a motion to disqualify a competing bid from Elliott Investment Management for the parent company of Citgo Petroleum, which a Delaware court recently declared as the leading offer. Gold Reserve argues that the court's acceptance of the $5.86 billion bid from Elliott's Amber Energy overlooks previous recommendations for their higher $7.4 billion bid, potentially harming creditors. The auction is part of a process to repay debts stemming from Venezuela's nationalization actions.
Source: YAHOO
Reported 11 days ago
Google has launched Pixel Care+, a new device protection program that replaces Google Preferred Care and Fi Device Protection in the U.S. This program offers enhanced coverage including unlimited claims for accidental damage, $0 repairs for screens and batteries, and priority support from Pixel experts. Available for new eligible devices starting August 27, 2025, Pixel Care+ is priced at $10 per month or $199 for two years.
Source: YAHOO
Reported 11 days ago
Nvidia's quarterly earnings slightly surpassed analysts' estimates, with adjusted earnings of $1.05 per share and record revenue of $46.74 billion, driven in part by significant sales of H20 chips outside China. Despite a slight miss on data center sales expectations, Nvidia remains optimistic, forecasting $54 billion in revenue for the third quarter. The company continues to seek opportunities in the Chinese market while announcing an additional $60 billion for stock buybacks, although shares dropped about 3% in after-hours trading.
Source: YAHOO
Reported 11 days ago
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income year-over-year, solidifying its position as a leading company in the stock market, despite missing sales estimates in its data center division, which caused a dip in its stock. With a market value of $4.429 trillion, it tops the S&P 500 and has witnessed a staggering 1,143% rise in stock price since the beginning of 2023. The company forecasted $54 billion in revenue for the upcoming quarter while returning $24.3 billion to shareholders in the first half of the fiscal year.
Source: YAHOO
Reported 11 days ago
On August 27, 2025, the S&P 500 rose 0.2% to reach a record closing high, driven by investor anticipation for Nvidia's quarterly earnings. Meanwhile, Albemarle shares increased 7.5% following an upgrade from UBS due to an improved outlook for lithium prices, while shares of Paramount Skydance dropped 6.5% amid concerns over its valuation and growth projections. The market also saw gains from MongoDB, which reported strong financial results, whereas J.M. Smucker’s shares fell after reporting a loss attributed to tariff impacts.
Source: YAHOO
Reported 11 days ago
BlackRock has responded to pressures from both U.S. Republican and Democratic officials, stating that the politicization of pension fund management undermines its fiduciary duties to clients. In a memo directed at 43 state officials, the company emphasized that concerns from both parties about its focus on climate change represent a troubling trend of political influence in managing retirement assets. BlackRock, which oversees $12.5 trillion, aims to act as an engaged shareholder but not as an activist investor, asserting that political constraints can harm pension fund performance.
Source: YAHOO
Reported 11 days ago
Despite Nvidia reporting strong earnings that beat expectations, its shares dropped by 5% in after-hours trading. The S&P 500 reached a new record high, fueled by anticipations of an imminent interest rate cut from the Federal Reserve, while other global markets showed mixed results, notably with significant declines in Chinese stocks.
Source: YAHOO
Reported 11 days ago
Mexico is set to increase tariffs on imports from China, including cars, textiles, and plastics, as part of its 2026 budget proposal, according to Bloomberg News. The proposed tariff hikes may also extend to imports from other Asian countries.
Source: YAHOO
Reported 11 days ago
Citigroup strategists suggest investors increase their positions against long-term US bonds due to concerns that President Trump may undermine the Federal Reserve's independence. They anticipate a widening yield gap between 30-year and 5-year Treasuries, leading to a steeper yield curve, as the risk of political influence on the Fed rises. The strategists have initiated this 'curve steepener' trade amidst fears that Trump's actions could increase inflation risks.
Source: YAHOO
Reported 11 days ago
U.S. stocks gained on Wednesday, with the S&P 500 reaching a record high as investors awaited Nvidia's earnings report, expected to showcase its strong performance but also the impact of U.S. trade restrictions with China. The stock market anticipates significant swings in Nvidia shares post-report, reflecting investor sentiment amid ongoing trade tensions and hopes for continued AI-driven growth. Other market developments included bond yield fluctuations and a mix of earnings performances from various companies.
Source: YAHOO
Reported 11 days ago
CrowdStrike has issued a weak revenue forecast for the third quarter, citing lingering effects from a problematic cybersecurity update. Despite a strong second quarter, the company's shares fell nearly 3% in after-hours trading as it anticipates a revenue impact of $10 million to $15 million per quarter due to customer retention incentives. The quarterly revenue is projected between $1.21 billion and $1.22 billion, slightly below analysts' estimates.
Source: YAHOO
Reported 11 days ago
Nvidia, a leading AI chipmaker, has projected its third-quarter revenue to reach $54 billion, surpassing Wall Street's expectations, driven by strong demand for its AI chips from cloud providers. Despite a slight decline in its compute revenue, overall growth remains robust as the company navigates challenges tied to international markets. Analysts express confidence in the ongoing AI trade, despite concerns over slowing growth rates and potential impacts from geopolitical tensions.
Source: YAHOO
Reported 11 days ago
Air New Zealand announced a smaller-than-anticipated decline in its annual profit for 2025, although it warned that persistent engine maintenance issues and weak domestic demand will continue to strain earnings in the current financial year. The airline's pre-tax earnings for the first half of fiscal 2026 are expected to be flat or lower than the previous NZ$34 million, significantly less than last year's NZ$155 million. CEO Greg Foran highlighted that unforeseen delays in engine maintenance led to grounding several aircraft, impacting potential profits. Despite these challenges, the airline's earnings of NZ$189 million for the fiscal year surpassed analysts' expectations.
Source: YAHOO
Reported 11 days ago
Cloud analytics company Snowflake has increased its fiscal 2026 product revenue forecast to $4.40 billion, up from $4.33 billion, driven by strong demand for AI and data analytics services. Following this announcement, shares rose 13% in extended trading. The company is capitalizing on the growing need for enterprises to modernize their data infrastructure and simplify their AI services through its cloud-agnostic platform, particularly benefiting from significant growth in Microsoft's Azure cloud services.
Source: YAHOO
Reported 11 days ago
Nvidia's stock fell after reporting a miss in data center revenue for Q2, despite beating overall earnings expectations and raising Q3 revenue guidance. Meanwhile, Snowflake’s stock surged 13% due to an optimistic annual revenue forecast, while CrowdStrike faced a drop after a disappointing Q3 outlook. Overall, earnings reports from various companies highlighted mixed results amid economic uncertainty.
Source: YAHOO