Reported 10 days ago
Rivian's stock skyrocketed 16% following the announcement of an expanded joint venture with Volkswagen, which will invest an additional $800 million, raising its total commitment to $5.8 billion. The partnership aims to leverage Rivian's electrical architecture for the development of upcoming EVs, including the R2 SUV slated for 2026 and new Volkswagen models as early as 2027. Despite challenges in production and a projected loss for the year, Rivian's outlook remains positive with expectations for modest profits in Q4.
Source: YAHOO
Reported 10 days ago
Top executives from various US companies are strategizing on how to manage the potential risks associated with President-elect Donald Trump's proposed tariff increases. Concerns include disruptions to supply chains and inflationary pressures, with companies like Tesla and Dollar Tree outlining their contingency plans and flexibility to adapt to changing market conditions.
Source: YAHOO
Reported 10 days ago
Tim Gunn shares his humble beginnings as a 'pauper educator' while working on 'Project Runway,' revealing he wasn't paid for the first two seasons despite being a key mentor. He recalls struggling financially as he juggled teaching at Parsons School of Design. Despite his situation, Gunn found fulfillment in teaching and was eventually able to negotiate a fair contract for his continued role on the show. Even with improved finances, he maintains a frugal lifestyle, valuing quality over high price tags in fashion.
Source: YAHOO
Reported 10 days ago
CoreWeave, an AI cloud platform, successfully closed a $650 million secondary share sale, tripling its valuation to $23 billion within a year. The investors, which included Jane Street and Fidelity Management, highlight Wall Street's growing interest in AI infrastructure as the demand for generative AI services skyrockets. CoreWeave, primarily backed by Nvidia, offers critical access to data centers and powerful chips for AI workloads. With increasing funding in the AI sector, projections suggest private AI and cloud company investments could reach $79.2 billion by the end of 2024.
Source: YAHOO
Reported 10 days ago
California's Diablo Canyon nuclear power plant, the state's only remaining facility, is set to integrate artificial intelligence tools to navigate new licensing requirements critical for its continued operation. A partnership with startup Atomic Canyon will introduce an AI system named Neutron Enterprise, capable of processing and making sense of the plant's extensive documentation to enhance maintenance and compliance management, ultimately allowing Diablo Canyon to remain operational for up to 20 more years.
Source: YAHOO
Reported 10 days ago
Boeing has begun issuing layoff notices to workers as part of its plan to reduce its global workforce by 10%, totaling 17,000 jobs. U.S. employees affected will remain on the payroll until January to meet federal notification requirements. This move comes as Boeing, under new leadership, seeks to stabilize production following a significant strike and financial difficulties, aiming to align workforce levels with its current financial situation.
Source: YAHOO
Reported 10 days ago
October's Consumer Price Index (CPI) report revealed a 0.2% monthly and 2.6% yearly increase in inflation, aligning with expectations. HSBC's Willem Sels notes that while inflation remains persistent, the latest figures showed no surprises. He emphasizes that future inflation trends will depend significantly on the policies of the incoming Trump administration, suggesting the Fed will likely hold off on immediate changes to interest rates as it assesses these impacts on the economy.
Source: YAHOO
Reported 11 days ago
IBM CEO Arvind Krishna highlighted the company's valuable position in AI consulting, emphasizing that businesses not utilizing AI will fall behind within five years. While IBM's consulting services are thriving as companies seek AI strategies, analysts note this segment is small compared to the company's overall services. Although AI technology is still in its experimental phase, significant enterprise solutions may take two to three years to mature, requiring higher standards of reliability.
Source: YAHOO
Reported 11 days ago
Amazon is set to release its latest AI chips, named 'Trainium 2', in December as part of its strategy to enhance its cloud services and reduce its dependence on Nvidia. This initiative, driven by its chip subsidiary Annapurna Labs, aims to optimize data center efficiency and provide an alternative in the AI processor market. The upcoming chips are already being tested by companies such as Anthropic and Databricks, as Amazon invests heavily in its technology infrastructure.
Source: YAHOO
Reported 11 days ago
Penguin Solutions, currently trading at around $17, is being highlighted as a potential undervalued player in the AI sector, particularly following a recent disappointing earnings report. Analysts from Goldman Sachs have rated it a 'buy,' projecting its stock could reach between $21 and $27 due to its strong product offerings that support AI's growing data demands. With expectations of a revenue rebound in 2025, investors who missed out on Nvidia may find Penguin an attractive investment opportunity.
Source: YAHOO
Reported 11 days ago
Brian Sozzi discusses how AI may influence the future of meme coins with Eric Jackson, founder of EMJ Capital. Jackson, a crypto enthusiast, highlights the ongoing relevance of currencies like Dogecoin and speculates on the emergence of new alternative currencies, suggesting that the interaction between AI and cryptocurrency will be an exciting area to watch.
Source: YAHOO
Reported 11 days ago
Trump's proposed tariffs may lead to increased inflation risks for Americans, as the Consumer Price Index shows a rise in prices contrary to the Federal Reserve's 2% inflation target. Neel Kashkari, Minneapolis Fed President, suggested a potential pause on interest rates due to ongoing inflation. Analysts, including Bridgewater Associates' co-CIO, Karen Karniol-Tambour, discuss the possibility of retaliatory tariffs further complicating the economic landscape.
Source: YAHOO
Reported 11 days ago
Volkswagen is ramping up its investment in Rivian, signaling a deeper commitment to the electric vehicle market. The expanded partnership between these automakers is seen as a significant move in the EV sector, with experts discussing its implications.
Source: YAHOO
Reported 11 days ago
Amazon has launched a new low-cost ecommerce service named Amazon Haul in the US, aimed at providing products priced at $20 or less, as competition intensifies with Chinese companies like Shein and Temu. The service, which features items mostly under $10, is accessible through an update to the Amazon shopping app.
Source: YAHOO
Reported 11 days ago
As of November 2024, the top performers in the S&P 500 include Palantir Technologies (PLTR), Nvidia (NVDA), and Vistra Corp (VST), according to Yahoo Finance anchor Madison Mills' analysis of the market.
Source: YAHOO
Reported 11 days ago
Elizabeth Warren has been appointed as the top Democrat on the Senate Banking, Housing, and Urban Affairs Committee, a significant shift that could impact banking regulations amid a Republican-controlled Congress. Known for being a strong critic of the banking sector, Warren aims to advance policies that support affordable housing and protect consumers from corporate greed. With this new role, Warren will lead questioning in a committee where major banks have faced scrutiny, though the overall environment may shift in favor of banks with GOP leadership coming into play.
Source: YAHOO
Reported 11 days ago
Just Eat Takeaway is selling Grubhub for $650 million to Wonder Group, a significant drop from the $7.3 billion they paid for it in 2020. Following the announcement, Just Eat's stock surged by over 16%.
Source: YAHOO
Reported 11 days ago
President-elect Donald Trump's proposed 60% tariff on Chinese imports could significantly impact various sectors, particularly consumer discretionary, manufacturing, and steel. Investor concerns about inflation and stock market fluctuations arise from this policy, as noted by market strategist Keith Lerner. While Lerner predicts volatility in 2025, he also suggests that small-cap companies may see greater opportunities due to their relatively low valuations.
Source: YAHOO
Reported 11 days ago
Recent CPI figures align with expectations, showing a 0.2% month-over-month increase and 2.6% year-over-year, prompting discussions about inflation's prominence in light of President-elect Trump's likely inflationary policies. Roundhill Investments CEO Dave Mazza suggests that these policies could intensify inflation concerns as the market anticipates the Federal Reserve's December meeting.
Source: YAHOO
Reported 11 days ago
In recent market news, Seven & i Holdings is contemplating a management buyout to potentially take the company private, while Rocket Lab USA shares rose nearly 40% following strong quarterly results and an optimistic sales outlook. Additionally, DirecTV, which is mostly owned by AT&T, is set to abandon its plan to acquire the cable provider Dish.
Source: YAHOO
Reported 11 days ago
Berkshire Hathaway's B shares are set to be included in a leveraged exchange-traded fund (ETF), aiming for a 200% return on the stock associated with Warren Buffett. The development raises interest among investors, as detailed in a recent Bloomberg report.
Source: YAHOO
Reported 11 days ago
The Consumer Price Index (CPI) for October met expectations, indicating persistent rental inflation, which prompts economist Kathy Bostjancic to suggest that the Federal Reserve may consider another rate cut in December. While she maintains a cautious optimism, she notes ongoing rental inflation as a concern that could impact the Fed's decision-making.
Source: YAHOO
Reported 11 days ago
Spirit Airlines' stock plummeted 59% as reports emerged that the budget airline is preparing to file for bankruptcy after failed merger negotiations with Frontier. The company is in discussions with creditors regarding debt restructuring, and if successful, it could lead to the cancellation of existing equity. Facing over 90% stock decline this year, Spirit also announced delays in financial reporting due to restructuring efforts and plans to cut costs by furloughing pilots and selling older aircraft.
Source: YAHOO
Reported 11 days ago
The Consumer Price Index report reveals that housing costs increased by 0.4% in October, marking a challenge for the Federal Reserve's initiatives to combat inflation. Shelter costs matched a year-over-year rise of 4.9%, alongside consistent rent increases, adding to consumers' financial burdens. Economists highlight the potential for temporary rent spikes due to hurricane impacts, suggesting a persistent struggle to achieve targeted inflation rates.
Source: YAHOO
Reported 11 days ago
Cathie Wood of Ark Invest is selling her Tesla shares and investing heavily in Amazon, a shift reflected in her strategy of taking profits amid Tesla's recent stock surge. Over the past few weeks, Wood has sold significant amounts of Tesla stock while purchasing more than 395,000 shares of Amazon, which she views as a strong long-term opportunity due to its diverse business and AI growth potential. Despite the sales, Wood remains bullish on Tesla, reinforcing her commitment to both companies.
Source: YAHOO