Reported 4 months ago
Shake Shack reported a disappointing first quarter with missed sales and revenue targets, even as it maintains its adjusted EBITDA outlook. Utz Brands saw growth thanks to volume increases but faced challenges from price declines and expects tariff volatility to impact 2025. Meanwhile, Sirius XM's adjusted EBITDA declined 3%, but it reaffirmed its 2025 guidance, not anticipating significant tariff-related effects.
Source: YAHOO
Reported 4 months ago
Uber Technologies has announced a partnership with self-driving startup May Mobility to introduce thousands of self-driving vehicles on its ride-hailing platform, starting in Arlington, Texas, by late 2025. This collaboration adds to Uber's efforts to expand its presence in the robotaxi market, where it competes with Lyft and Tesla. May Mobility will initially use safety drivers before transitioning to fully autonomous operations, utilizing hybrid Toyota Sienna minivans.
Source: YAHOO
Reported 4 months ago
Microsoft is reportedly preparing to host Elon Musk's Grok AI model via its Azure cloud service, making it accessible to customers and Microsoft's product teams. The collaboration comes amid tensions between Musk and OpenAI's CEO, Sam Altman, regarding the future of AI. While there are discussions about hosting, it remains unclear if Microsoft will have exclusive rights to Grok or if other cloud providers will participate.
Source: YAHOO
Reported 4 months ago
U.S. technology stocks experienced a significant jump after Microsoft and Meta Platforms reported better-than-expected results, alleviating concerns about the impact of heavy AI investment. However, shares of Apple and Amazon dipped slightly in after-hours trading due to disappointing forecasts related to Apple's tariff costs and Amazon's lower operating income projections. Microsoft shares rose 7.6%, and Meta's climbed 4.2%, showcasing resilience despite economic uncertainties.
Source: YAHOO
Reported 4 months ago
LVMH's Moet Hennessy plans to cut its workforce by more than 10%, equating to approximately 1,200 jobs, to return to 2019 staffing levels, following a 9% decline in organic sales in the first quarter due to weakened markets in the U.S. and China. The decision was revealed in an internal message from the division's CEO, with the exact timeline for the layoffs yet to be announced.
Source: YAHOO
Reported 4 months ago
Nvidia CEO Jensen Huang met with U.S. lawmakers to discuss worries regarding Huawei's advancing AI capabilities, particularly in relation to competitive risks posed by Huawei's AI chips if restrictions on Nvidia's products in China persist. Huang emphasized the strategic significance of AI technology and the need for investment in American manufacturing. Amid U.S. export controls, Huawei is reportedly preparing to launch its own chips to compete with Nvidia, which could shape future global market dynamics.
Source: YAHOO
Reported 4 months ago
As tariffs threaten to increase prices for American consumers, financial experts recommend proactive measures to safeguard personal finances. Key strategies include saving more, cutting unnecessary expenses, and reassessing debt priorities. While dealing with rising costs, individuals are encouraged to focus on maintaining a strong financial foundation with savings and smart spending choices.
Source: YAHOO
Reported 4 months ago
Recent tariff uncertainties have forced General Motors to lower its profit expectations and led Harley-Davidson to withdraw its financial forecast for the year. With operations facing significant tariff impacts, GM anticipates adjusted earnings between $10 billion and $12.5 billion, while Harley focuses on cost control amid unpredictable economic conditions. Other companies like Church & Dwight and Hershey are also adjusting their forecasts as they navigate the repercussions of these tariffs.
Source: YAHOO
Reported 4 months ago
Microsoft shares surged nearly 9% after the company reported strong quarterly results, surpassing Wall Street's expectations. Analysts, including Morgan Stanley, raised their price targets for the stock, with predictions ranging from $482 to $550, citing robust demand for cloud computing and AI as key growth drivers. Microsoft's commitment to invest $80 billion in infrastructure for fiscal 2025 further supports its growth outlook.
Source: YAHOO
Reported 4 months ago
The US House of Representatives voted 246-164 to repeal a federal waiver that allowed California to ban gasoline-powered cars by 2035, a move supported by most Republicans and some Democrats. Opponents, including automakers and environmental groups, argue the decision undermines efforts to reduce emissions. California Governor Gavin Newsom condemned the vote, stating it affects air quality efforts and defies legal precedents.
Source: YAHOO
Reported 4 months ago
A recent report reveals that automakers may face tariff impacts of $2,000 to $12,000 per vehicle, despite recent adjustments to trade levies on imported auto parts. U.S. vehicles could see impacts of $2,000 to $3,000, while imported luxury SUVs and EVs may incur hits of $10,000 to $12,000. General Motors anticipates a $5 billion impact from tariffs, and the automotive industry continues to push for favorable trade terms amid ongoing tariff challenges.
Source: YAHOO
Reported 4 months ago
Gold prices have dropped to a two-week low as hopes for progress in trade talks between the US and other countries diminish its appeal as a safe haven asset. Despite ongoing economic concerns, market sentiment improved following comments from National Economic Council Director Kevin Hassett about positive developments in tariff discussions. Gold remains up 22% this year, but was down 2.4% to $3,211.42 an ounce by midday in New York.
Source: YAHOO
Reported 4 months ago
House Republicans are contemplating revising the state and local tax (SALT) deduction to specifically benefit taxpayers earning less than $400,000, addressing both fiscal concerns and political pressures from representatives in high-tax states like New York. Discussions continue over the cap levels and potential income limits for the deduction, as lawmakers aim to ensure it serves the middle class without imposing excessive burdens on those in expensive areas. The outcome remains uncertain as the Ways and Means Committee is set to reconvene on this issue.
Source: YAHOO
Reported 4 months ago
Nvidia and Anthropic, two significant AI companies, are facing off regarding US chip export controls. While Anthropic supports the Biden administration's 'Diffusion Rule,' arguing it is necessary for national security, Nvidia contends that it restricts competition and claims Anthropic is fabricating stories about chip smuggling. The tension highlights the complex dynamics in the AI industry as both companies navigate regulations affecting chip sales.
Source: YAHOO
Reported 4 months ago
Balkan Express, a Texas-based trucking company, along with its affiliate Balkan Logistics, has filed for Chapter 11 bankruptcy protection, citing debts exceeding $25 million. The filing comes after a lawsuit from M&T Capital alleging over $4.2 million in unpaid loans. They plan to reorganize and report assets between $10 million and $50 million.
Source: YAHOO
Reported 4 months ago
Mastercard reported a decline in U.S.-bound travel due to President Trump's tariff policies, with foreign travel dropping 14% in March. Despite challenges, the company sees opportunities by diversifying its revenue streams and investing in artificial intelligence to enhance services. Mastercard remains optimistic for its growth, reporting a 9% increase in net income for the first quarter, and maintains a solid 2025 outlook.
Source: YAHOO
Reported 4 months ago
Tesla's chair, Robyn Denholm, has dismissed a report claiming the board was searching for a replacement for CEO Elon Musk, asserting confidence in his leadership. Despite this denial, discussions about Musk needing to return to Tesla following political activities that have harmed the brand have raised concerns about the company's sales performance. With recent declines in sales and earnings, industry analysts speculate that Musk remains pivotal to Tesla's vision of future technological advancements such as robotics and autonomous vehicles.
Source: YAHOO
Reported 4 months ago
Eli Lilly's stock has taken a hit following investor concerns regarding GLP-1 drugs and broader industry challenges. Experts suggest that the market reaction may be an overreaction, urging a deeper analysis of the company's potential and the overall market dynamics.
Source: YAHOO
Reported 4 months ago
In today's market update, Nvidia's CEO Jensen Huang advocates for reduced chip trade restrictions during a White House meeting, while Qualcomm's stock falls following a weaker sales forecast amid tariff concerns. Meanwhile, Roblox raises its full-year revenue guidance as in-game spending remains strong despite economic uncertainties, reflecting a 26% increase in daily active users.
Source: YAHOO
Reported 4 months ago
Source: INVESTORS
Reported 4 months ago
Meta's stock surged after surpassing first quarter expectations, driven by a robust 20% growth in ad revenue. CEO Mark Zuckerberg expressed confidence in navigating macroeconomic uncertainty, while analysts highlight the sustainability of this growth, especially with advancements in artificial intelligence enhancing ad targeting and performance.
Source: YAHOO
Reported 4 months ago
In an analysis of the US labor market amidst early 2025 recession concerns, economist Betsey Stevenson compares the job landscape to a 'game of musical chairs,' emphasizing that while there may be a slowdown in hiring, the market is not yet in recession. She notes a decrease in job openings and a reduction in employee separations, suggesting that workers are hesitant to leave their current jobs due to limited new opportunities.
Source: YAHOO