Reported 10 days ago
AMD plans to reduce its workforce by 4%, approximately 1,000 employees, as it pivots to focus on competing in the AI chip market, which is currently led by Nvidia.
Source: YAHOO
Reported 10 days ago
The Nasdaq Composite fell slightly over a quarter percent as U.S. stocks closed mixed following the October Consumer Price Index (CPI) inflation data. Market analysts, including Julie Hyman and Jared Blikre, discussed the day's fluctuations, focusing on key indicators such as the volatility index and the 10-year Treasury yield.
Source: YAHOO
Reported 10 days ago
Source: INVESTORS
Reported 10 days ago
Spirit Airlines stock fell 59% as the company reportedly prepares for a bankruptcy filing following failed merger talks with Frontier Airlines. Facing significant debt challenges, Spirit is engaged in negotiations with creditors to restructure its finances. If an agreement is not reached, the airline may cancel existing equity. Analysts show increasing pessimism towards the stock, with no Buy ratings and multiple Sell recommendations, further concerning the airline's future viability.
Source: YAHOO
Reported 10 days ago
U.S. stocks experienced a mixed closing on Wednesday, with tech stocks, particularly the Nasdaq Composite, declining by 0.3%, while the S&P 500 remained nearly unchanged, and the Dow Jones increased by 0.1%. This mixed performance came as investors absorbed new consumer inflation data indicating a year-over-year increase of 2.6% in the Consumer Price Index for October, maintaining expectations for a Federal Reserve rate cut next month. The market currently anticipates an over 80% chance of a rate cut in December amid mixed economic signals and ongoing inflation concerns.
Source: YAHOO
Reported 10 days ago
Snowflake Inc. (SNOW) shares surged on Wednesday as analysts expressed optimism about the company's innovations revealed at its recent Build Conference, highlighting a positive outlook for its growth in the cloud computing sector.
Source: YAHOO
Reported 10 days ago
Elon Musk and Vivek Ramaswamy have been appointed to head the new 'Department of Government Efficiency (DOGE)' under President-elect Donald Trump, aiming to reduce government spending. While the specific changes remain uncertain, the agency may target departments like the SEC and FTC. Economists suggest that the new agency could influence federal expenditure and the national deficit, especially with anticipated fiscal bills in the next administration.
Source: YAHOO
Reported 10 days ago
Caterpillar (CAT) shares fell following Evercore ISI's downgrade from In Line to Underperform, citing concerns over potential challenges stemming from Donald Trump's upcoming second presidential term as a significant factor impacting the company's stock outlook.
Source: YAHOO
Reported 10 days ago
Rocket Lab USA (RKLB) experienced a significant surge in stock price, rising over 30% in Wednesday's trading session after the release of its third quarter earnings. The shares are now up more than 240% year-to-date, reflecting strong market performance.
Source: YAHOO
Reported 10 days ago
In October 2024, the U.S. budget deficit soared nearly four-fold to $257 billion compared to $67 billion the previous year, largely due to one-off factors and adjustments in benefit payments, according to the Treasury Department. This significant deficit marks the start of the new fiscal year and poses a fiscal challenge for President-elect Donald Trump. Federal receipts dropped by 19%, while outlays increased by 24%, with notable rises in Social Security and military spending. Despite a decline in public debt service costs, interest on public debt increased, contributing to ongoing concerns regarding federal finances.
Source: YAHOO
Reported 10 days ago
Amazon has launched a new discount storefront called Amazon Haul, aimed at selling products priced at $20 and below, in a bid to compete more effectively with budget-friendly Chinese platforms like Shein and Temu.
Source: YAHOO
Reported 10 days ago
Elon Musk's X Corp has hired Mahmoud Reza Banki, a former Tubi executive, as its new Chief Financial Officer. This move comes as Musk shifts his focus toward enhancing government efficiency while X faces increased competition for advertising revenue. Banki, who previously led finance at Tubi, joins the company amid efforts to revitalize its ad income after a significant decline since Musk's acquisition in 2022.
Source: YAHOO
Reported 10 days ago
Source: BARRONS
Reported 10 days ago
Bluesky, the social media platform launched by former Twitter CEO Jack Dorsey, has seen a surge of 1 million new users following the recent U.S. election as individuals seek alternatives to X. The growth raised Bluesky's total users to 15 million, benefiting from a trend of users migrating from X due to concerns over content moderation. As the platform continues to evolve with features similar to X, such as a discover feed and direct messaging, it promises a user experience free from advertisements and hate speech, attracting a diverse user base including journalists and celebrities.
Source: YAHOO
Reported 10 days ago
Disney is gearing up to announce its fiscal Q4 earnings, focusing on improving its streaming services and stabilizing park attendance after recent setbacks. With CEO Bob Iger's departure set for 2026 and a search for his successor underway, investors are eager to understand the company's performance across its newly reorganized segments. Expectations include a rise in total revenue and streaming profitability, despite potential challenges from ongoing investments and external factors affecting park operations.
Source: YAHOO
Reported 10 days ago
Source: WSJ
Reported 10 days ago
As Donald Trump prepares for his second term, the tech industry is braced for significant changes regarding AI regulations, antitrust laws, and the CHIPS Act. Despite past tensions with major tech figures, Trump’s emerging Republican majority could reshape policies that may be less aggressive towards Big Tech, particularly in areas of regulation. While the potential for deregulation raises concerns about unchecked AI development, the fate of initiatives like the CHIPS Act remains uncertain, potentially affecting pricing and supply chains across the tech landscape.
Source: YAHOO
Reported 10 days ago
Supermicro's stock has continued its downward trend in 2024, dropping more than 25% following the announcement of delays in filing its fiscal first-quarter results. The company faces potential delisting from Nasdaq as it struggles to secure a new auditor after its previous firm, EY, resigned. Earlier this year, shares were valued around $120 but have since plummeted to approximately $21 amid concerns over its accounting practices.
Source: YAHOO
Reported 10 days ago
Michael Sayman, known as 'the App Kid' and one of Facebook's youngest employees, proves that college isn't the only route to career achievement. Skipping formal education, he built his career by establishing trust through his entrepreneurial efforts with Friendly Apps, showing that practical experience can be as valuable as a college degree.
Source: YAHOO
Reported 10 days ago
Amazon has launched a new low-cost online storefront called Amazon Haul, featuring products primarily priced under $20, to better compete with discount retailers like Shein and Temu. This initiative focuses on offering items under $10 and includes free delivery for orders over $25, shipping from a warehouse in China. The new storefront mainly showcases unbranded products, aiming to attract cost-conscious shoppers. However, potential price increases due to U.S. tariffs on Chinese goods may impact this strategy.
Source: YAHOO
Reported 10 days ago
Tom Steyer, Co-Executive Chair of Galvanize Climate Solutions, shares insights on investing in climate technology amidst speculation on whether Elon Musk can influence President-elect Donald Trump towards climate investment. Steyer emphasizes the importance of recognizing companies with sustainable long-term returns in sectors like information, agriculture, and sequestration, while highlighting the risks of the U.S. falling behind China in the energy transition.
Source: YAHOO
Reported 10 days ago
Brad Roth from THOR Financial Technologies indicates that the new leveraged ETF packaging Berkshire Hathaway's class B shares is not designed for long-term investors, as it only provides a 2x return on a daily basis rather than over the long term. He believes there will be limited interest from day traders and market speculators.
Source: YAHOO
Reported 10 days ago
Elon Musk and Vivek Ramaswamy are advocating for significant cuts to U.S. federal agencies to improve government efficiency, potentially targeting major departments like Education and the FBI. With Trump’s support, they propose eliminating numerous agencies and drastically reducing federal employment, amidst challenges regarding actual implementation and potential backlash from Congress. Their initiatives suggest a move towards a more streamlined federal bureaucracy, though key details on execution remain unclear.
Source: YAHOO
Reported 10 days ago
Bitcoin has surged past $93,000 for the first time due to excitement over President-elect Trump's victory. Meanwhile, Cisco is in the spotlight as it prepares to announce its fiscal first-quarter results. Other trending stocks include Rocket Lab and Rivian Automotive.
Source: YAHOO