Ford Motors recently announced a major shift in its electric vehicle strategy, opting to delay production of a next-generation all-electric pickup truck in Tennessee and cancel plans for a three-row electric SUV. Instead, the company will prioritize the development of hybrid models and electric commercial vehicles, such as a new electric commercial van in 2026,
Development
Activist investing has been gaining significant attention in the financial world, with firms like Elliott Management making bold moves to influence the trajectory of various companies. CNBC’s Leslie Picker has been closely following Elliott Management’s recent activist campaigns, shedding light on the impact they have had on the stock market. Elliott Management has emerged as
In a recent development, OpenAI announced a partnership with Condé Nast that will have far-reaching implications for the future of media outlets and content creation. This collaboration will see OpenAI’s advanced AI products, including ChatGPT and SearchGPT, being utilized to display content from a variety of popular media platforms such as Vogue, The New Yorker,
Bank of America’s stock took a hit, falling 2% after Warren Buffett’s Berkshire Hathaway revealed it was further reducing its stake in the bank. This news comes after a 12-day selling streak that started in mid-July, with the conglomerate selling 13.9 million more shares for $550.7 million over the past three trading days. Berkshire’s stake
In midday trading, Advanced Micro Devices saw a more than 2% increase in its stock price following the announcement of its plans to acquire server builder ZT Systems in a deal worth $4.9 billion. This move shows the company’s commitment to expanding its presence in the tech industry. Conversely, HP experienced a decline of over
Alphabet-owned Waymo recently announced the details of its latest self-driving technology, known as “generation 6.” This new driverless tech has been integrated into Geely Zeekr electric vehicles and is designed to handle a wider array of weather conditions without the need for as many expensive cameras and sensors on board. Satish Jeyachandran, Waymo’s vice president
SpaceX is gearing up for an exciting new mission, Polaris Dawn, which is set to launch at the end of the month. This mission, part of billionaire Jared Isaacman’s Polaris Program, will mark the first attempt at a spacewalk by a private venture. The crew, led by Isaacman himself, will include long-time colleague Scott Poteet,
Deutsche Bank’s attempt to settle with shareholders who sued the bank for underpaying them for the acquisition of Postbank has hit a roadblock. The lawyer representing the plaintiffs, Jan Bayer, dismissed the bank’s offer as inadequate, referring to it as a “crackhead” offer that stands no chance of acceptance. This rejection sets the stage for
UBS CEO Sergio Ermotti recently addressed the issue of market volatility, predicting that it could potentially intensify in the second half of the year. While some investors have expressed concerns about a possible recession in the United States, Ermotti remains optimistic, stating that a slowdown is more likely than a full-blown recession. The recent sell-offs
Cisco Systems experienced a 6% jump in its stock after reporting an earnings and revenue beat for its fiscal fourth quarter. The networking company posted adjusted earnings of 87 cents per share on revenue of $13.64 billion, surpassing analysts’ expectations. Despite this positive news, both revenue and earnings for the fiscal year decreased, marking the
The recent data showing a slowdown in U.S. inflation has left the dollar weakened, with the euro reaching an eight-month high. This has led to speculations that the Federal Reserve might consider lowering borrowing costs next month. The potential rate cuts have left traders anticipating the Fed’s next move, with expectations of a 25 basis
The U.S. stock index futures saw a slight rise on Wednesday evening, following positive momentum on Wall Street upon the release of data showing a cooling in consumer inflation during July. This development raised expectations for a reduction in interest rates by the Federal Reserve. The softer-than-expected inflation readings this week have fueled speculations that
The volatile nature of the stock market is evident in the premarket trading activities of various companies. Kellanova’s shares rose significantly after agreeing to be acquired by Mars, while Alphabet experienced a drop in share prices due to reports of potential regulatory actions. This highlights the influence of external factors on company performance and investor
Brinker International saw a significant stock drop of around 12% after reporting disappointing fourth-quarter earnings. The adjusted earnings per share fell short of expectations, leading to a weaker profit forecast for the full year. This indicates potential issues within the company’s operations and financial performance. On the other hand, Victoria’s Secret experienced a surge of