Reported 2 days ago
During Tesla's earnings call, CEO Elon Musk made a controversial appeal for a $1 trillion pay plan, emphasizing his need for strong influence over the company's future 'robot army.' He expressed concerns about potentially losing control if he proceeds with building the robots, stating that compensation should reflect the level of voting control he possesses. Musk criticized proxy adviser firms opposing his pay proposal and highlighted that shareholder approval is crucial for maintaining his role as CEO during a pivotal time for Tesla.
Source: YAHOO
Reported 2 days ago
Source: YAHOO
Reported 2 days ago
Hasbro is navigating tariff challenges by increasing prices on select popular products, as CEO Chris Cocks explained in a recent interview. Despite these adjustments, the company aims to keep half of its offerings under $20 while implementing a $1 billion cost-savings plan. Hasbro's revenue rose 8% to $1.39 billion in Q3, and the company remains optimistic about future sales, bolstered by new product launches targeting high-end and collectible markets. However, families in lower income brackets exhibit more price sensitivity, creating a divided consumer landscape.
Source: YAHOO
Reported 2 days ago
Mortgage rates have fallen to their lowest level in over a year, with the average 30-year rate now at 6.19% and the 15-year rate at 5.44%. This decline follows a drop in the 10-year Treasury yield below 4%, influenced by market reactions to a potential government shutdown and expectations of future rate cuts from the Federal Reserve. As a result, existing home sales have seen a slight increase, suggesting that lower rates are encouraging more buyers to enter the market.
Source: YAHOO
Reported 2 days ago
President Donald Trump has pardoned Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, who previously served prison time for failing to prevent criminal activities on the platform. The pardon follows Zhao's significant support for the Trump family's crypto ventures and aims to rectify what the Trump administration describes as overreach by the Biden administration against the cryptocurrency industry. Zhao expressed gratitude for the pardon, marking a notable shift in regulatory attitudes towards crypto as Trump continues to prioritize the industry's growth.
Source: YAHOO
Reported 2 days ago
Mortgage rates in the U.S. have dropped to their lowest point in over a year, with the average 30-year fixed rate falling to 6.19%. This decrease offers a glimmer of hope for potential homebuyers frustrated by high borrowing costs, as lower rates and easing home prices enhance housing affordability. Experts suggest that the downward trend in mortgage rates may continue, driven by expectations of an upcoming Federal Reserve rate cut and signs of a sluggish economy.
Source: YAHOO
Reported 2 days ago
Freddie Mac announced that the average rate for a 30-year mortgage has decreased to 6.19% this week, marking the lowest level observed in more than a year.
Source: YAHOO
Reported 2 days ago
Microsoft’s Copilot has been updated to include a new customizable avatar named Mico, designed to make interactions feel more personal. Unlike the infamous Clippy, Mico changes its expression and color based on user interactions and focuses on being empathetic while providing honest feedback. The update also introduces collaborative chat features, memory capabilities for referencing past conversations, and the ability to link multiple services for a more integrated digital experience. Microsoft aims to enhance the usefulness of Copilot while facilitating meaningful user interaction.
Source: YAHOO
Reported 2 days ago
Tensormesh has raised $4.5 million in seed funding to develop a commercial version of the LMCache utility, which can reduce AI inference costs significantly. The company's innovative approach retains key-value caches after queries, thereby improving efficiency and inference power, particularly for chat interfaces and agentic systems. As the demand for AI infrastructure grows, Tensormesh aims to streamline the complex process for companies looking to enhance their AI capabilities.
Source: YAHOO
Reported 2 days ago
Source: YAHOO
Reported 2 days ago
Intel is set to release its quarterly earnings after the market closes today, with analysts expecting a modest profit following previous losses. The stock has surged over 80% this year, largely due to recent government support and a new partnership with Nvidia, raising investor expectations. However, there are concerns about whether this enthusiasm is justified, as analysts maintain neutral ratings pending more customer commitments, especially from potential major clients like Microsoft.
Source: YAHOO
Reported 2 days ago
Shares of quantum computing firms surged after reports that the Trump administration is considering taking equity stakes in these companies in exchange for federal funding. Companies like IonQ, Rigetti, D-Wave Quantum, and Quantum Computing are reportedly involved in discussions, prompting stocks to rise between 5% and 14%. While investor interest in cutting-edge technology grows, caution is advised due to the volatility and unconfirmed nature of these reports.
Source: YAHOO
Reported 2 days ago
On October 23, major U.S. equities mainly advanced as investors monitored trade developments with China and corporate earnings. IBM's shares fell due to lower-than-expected software revenue, while Tesla also experienced a decline after missing profit estimates. Molina Healthcare suffered the worst performance in the S&P 500 after reporting disappointing earnings. In contrast, Honeywell's shares rose significantly following an optimistic profit outlook, and several quantum computing stocks surged amid government talks for potential investments.
Source: YAHOO
Reported 2 days ago
Former President Trump has pardoned Changpeng Zhao, the co-founder and former CEO of Binance, who was convicted in 2024 for violating US anti-money laundering laws. This decision is seen as part of Trump's support for Zhao amid claims of political persecution related to cryptocurrency, potentially allowing Binance to resume operations in the US after a previous ban.
Source: YAHOO
Reported 2 days ago
In September, existing home sales rose by 1.5% to an annual rate of 4.06 million, attributed to decreasing mortgage rates and an increase in available inventory. With rates dropping from 6.7% to 6.3%, more buyers were engaged, although first-time homebuyers represented only 30% of the market, indicating ongoing challenges. The inventory increased by 14% year-over-year, providing more options for buyers, particularly in the high-end market.
Source: YAHOO
Reported 2 days ago
Quantum computing is gaining traction in Silicon Valley, with major companies like Amazon, Google, and Microsoft developing their own quantum chips. Supported by potential investments from the Trump administration, quantum computers promise lightning-fast calculations that could revolutionize fields such as medicine and material science. Unlike classical computers that use bits, quantum computers leverage qubits, which exist in multiple states simultaneously, enabling superior processing power. However, challenges such as quantum errors still hinder their practical applications, meaning they are not yet ready to replace traditional computers for everyday tasks.
Source: YAHOO
Reported 2 days ago
Intel's stock surged by 7% after reporting third quarter earnings that exceeded analyst expectations, with revenue of $13.7 billion and adjusted earnings per share of $0.23. The CEO highlighted that AI is driving demand for their chips, contributing to a more favorable outlook despite a struggling manufacturing segment. Although the company anticipates lower fourth quarter earnings, significant investments from the US government and Nvidia indicate confidence in Intel's potential for recovery under new leadership.
Source: YAHOO
Reported 2 days ago
In a recent market update, Super Micro reported anticipated revenue shortfalls ahead of its earnings release, causing its shares to dip slightly. IBM also faced a decline in its stock due to disappointing software sales, raising concerns about slow growth in its key business areas. In contrast, quantum computing stocks gained attention after news that the Trump administration is considering investing in the sector, marking a potential boost for the industry.
Source: YAHOO
Reported 2 days ago
Citigroup's board has appointed CEO Jane Fraser as chair, marking a significant consolidation of her power, alongside a $25 million bonus in restricted stock. This change reverses a 20-year separation of the roles and reflects a trend among major banks to align CEO and board leadership. Fraser, who aims to simplify and streamline Citi into five core divisions, has seen the bank's stock rise 46% since she became CEO in 2021, despite ongoing challenges to meet profitability targets.
Source: YAHOO
Reported 2 days ago
U.S. stock indices rose on Thursday as oil prices surged nearly 6% following sanctions on Russian energy companies, and investors assessed mixed earnings from Tesla and IBM. The Nasdaq led gains with a 0.7% increase, while the S&P 500 grew by 0.4%. American Airlines saw a notable rise in its stock after better-than-expected earnings guidance, whereas T-Mobile's shares fell despite strong subscriber growth. Anticipation for upcoming results from Intel also added to the market dynamics as U.S.-China trade talks loom.
Source: YAHOO
Reported 2 days ago
Tesla reported disappointing Q3 earnings, with operating profit down 40% from the previous year, despite announcing advancements in its Robotaxi plans. CEO Elon Musk emphasized cautious deployment of these autonomous vehicles, targeting major cities for testing by year-end. Consequently, Tesla's stock fell over 5% in early trading. The company's revenue was stronger than expected, but lower emissions credit revenue and tariffs impacted profitability, raising concerns about future performance after the expiration of federal EV tax credits.
Source: YAHOO
Reported 2 days ago
T-Mobile exceeded expectations by adding over 1 million new monthly bill-paying subscribers in the third quarter, prompting the company to raise its annual forecast. This growth is attributed to a significant influx of customers switching from competitors during the latest iPhone release period. Despite the positive subscriber news, T-Mobile's shares dipped slightly after the company raised its capital expense forecast.
Source: YAHOO
Reported 2 days ago
Oil prices surged following new US sanctions on Russian oil producers, contributing to increased pressure on the US bond market as the government shutdown continues. With limited economic data available, investors are reacting to rising oil prices, leading to a close correlation between oil and bond yields. Experts suggest that without economic indicators, the bond market is in a state of uncertainty, and future movements will likely hinge on labor market data.
Source: YAHOO
Reported 2 days ago
Recent analyst updates from Wall Street highlight key stock movements, with LendingClub upgraded to Overweight by JPMorgan, reflecting optimism for its growth potential, and Enphase Energy downgraded to Neutral by Mizuho due to concerns over reduced solar demand and market share. Other notable upgrades include Core Scientific and CME Group, while companies like Hologic and Arcturus Therapeutics faced downgrades amid acquisition deals and disappointing trial results.
Source: YAHOO
Reported 2 days ago
Lumen Technologies and Palantir Technologies have formed a multi-year partnership to enhance the deployment of artificial intelligence in businesses. Lumen will invest over $200 million in Palantir's software, aiming to integrate Palantir's AI platform with Lumen's networking solutions. This collaboration is expected to facilitate the transformation of enterprises by combining advanced AI capabilities with the necessary high-performance infrastructure.
Source: YAHOO