Intel, the chipmaker, saw its stock price surge by 8.5% following news of the company’s collaboration with bankers to explore options to address weaknesses in its core business. This strategic review has instilled confidence in investors, resulting in a positive market reaction. Conversely, Elastic NV’s stock plummeted over 27% after its fiscal second-quarter revenue forecast
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As the Labor Day weekend approaches, the summer box office is set to wrap up slightly below previous years, with a projected total revenue of $3.6 billion according to Comscore. This marks a significant drop from the $4.09 billion collected in the summer of 2023. The main reason behind this decrease can be attributed to
Warren Buffett, the legendary investor turned 94 this week and his conglomerate, Berkshire Hathaway, has reached new heights in terms of market capitalization, becoming the first nontechnology company to surpass a $1 trillion market cap. Howard Marks, a well-known investor and friend of Buffett, attributes Buffett’s success to a combination of a well-thought-out strategy, discipline,
Typhoon Shanshan wreaked havoc across Japan, inundating large parts of the country with heavy rains. The storm prompted warnings of flooding and landslides, causing significant disruptions to travel services and industrial production. The southwestern region of Kyushu, where the storm made landfall, bore the brunt of the disaster, with residents in Fukuoka city facing the
The Bank of Israel recently made the decision to maintain its benchmark interest rate at 4.5% for the fifth consecutive time, reflecting concerns over inflation reaching a rate of 3.2%. Despite these inflationary pressures, there is a hesitancy to decrease interest rates due to the ongoing Gaza war and the potential for it to escalate
CNBC TV’s producers closely monitored the tech earnings parade on Thursday, with a particular focus on Marvell Technology. The stock surged about 8% after hours following better-than-expected revenue and a strong forecast for the latest quarter. Despite this positive news, Marvell is still down 18% from its March high. Interestingly, Marvell is the 17th biggest
Set to release on May 9, 2025, Universal Pictures is gearing up for the premiere of the highly anticipated musical feature, Atlantis. The film is inspired by Pharrell Williams’ childhood experiences at the Virginia Beach Atlantis Apartments in the summer of 1977. This unique storyline promises to take viewers on a nostalgic journey through Williams’
Dollar General experienced a sharp decline in its stock value, nearly 30%, after announcing a reduction in sales and profit guidance for the year. CEO Todd Vasos attributed the weaker sales to financially constrained core customers. This news not only affected Dollar General but also led to a 9% drop in shares for competitor Dollar
The Law and Justice (PiS) party, Poland’s largest opposition party, has been dealt a significant blow after the electoral commission determined that they misused public funds for campaigning purposes. As a result, the party is facing a loss of millions in state funding. This financial hit comes at a crucial time for PiS, especially since
France’s President Emmanuel Macron’s upcoming visit to Belgrade aims to strengthen ties with Serbia and bring the country closer to the West. This visit comes at a crucial time for Serbia as it navigates its European Union membership bid while maintaining close relationships with Russia and China. Macron and his Serbian counterpart, Aleksandar Vucic, are
American Eagle has once again fallen short of Wall Street’s sales targets for the second consecutive quarter. Despite this disappointing news, the company reported a significant increase in profit of nearly 60%, largely attributed to lower product costs. The market responded negatively to this news, with the company’s shares dropping more than 8% in early
The tech and chip-related stocks in Asia took a hit on Thursday following the announcement of Nvidia’s second-quarter results. Companies with direct links to the U.S. tech giant, such as South Korean chipmakers SK Hynix and Samsung Electronics, experienced significant losses. SK Hynix, known for manufacturing high bandwidth memory chips used in AI applications for
The Bank of Israel is facing a challenging economic environment, characterized by rising inflation and persistent geopolitical risks. Deputy governor Andrew Abir recently stated that the central bank is unlikely to lower short-term interest rates in the remaining policy meetings of 2024. This decision comes at a time when concerns about inflation, fueled by the
Elon Musk’s artificial intelligence startup, xAI, has been at the center of controversy due to its recent activities in Memphis, Tennessee. The company has come under fire for using natural gas burning turbines at its new data center without obtaining the necessary permits, leading to concerns about pollution and environmental health in the area. The