AMC Entertainment, one of the largest theater chains in the world, reported a significant drop in revenue for the second quarter of the year. The company’s total revenues for the quarter ended June 30 decreased to just over $1 billion, down from $1.35.9 billion in the same period last year. The decline in revenue can
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The recent lackluster quarterly results from Tesla and Alphabet have sent shockwaves through the tech-heavy Nasdaq, leading to an expected weak opening for Wall Street. Tesla experienced an 8.5% slump in premarket trading, potentially losing over $65 billion in market value after reporting its lowest profit margin in more than five years. Similarly, Google parent
Elon Musk, the CEO of Tesla, recently posted a poll on social media platform X, seeking opinions on whether Tesla should invest $5 billion into his newest startup, xAI. This informal poll raised questions about the future of Tesla’s investments and the potential impact on the company’s financial stability. It also highlighted Musk’s ambitious goals
Currency markets have been turbulent recently, with commodity currencies hitting multi-week lows due to weakness in Chinese demand. The Australian dollar, New Zealand dollar, and Canadian dollar have all suffered losses against the U.S. dollar as Chinese growth figures fell short of expectations and surprise rate cuts were implemented. This has led to a ripple
Recent data from the National Association of Realtors has shown a significant drop in sales of previously owned homes in June. The sales decreased by 5.4% compared to May, amounting to 3.89 million units on a seasonally adjusted, annualized basis. Additionally, the sales were 5.4% lower than June of the previous year, marking the slowest
Marvel Studio’s Deadpool & Wolverine is set to open this weekend, showcasing an impressive rebound for the post-strike box office and breathing new life into the Marvel Cinematic Universe. Following a slump last November with The Marvels, the studio is gearing up for a potentially record-breaking opening with a projected range of $160M-$170M in domestic
As spot ether exchange traded funds are gearing up to begin trading on Tuesday, crypto enthusiasts are buzzing with excitement over the potential impact on Ethereum, a blockchain technology that is often considered to have a broader range of applications than bitcoin. These ETFs are designed to invest directly in ether, the digital currency that
In a recent announcement, Finance Minister Nirmala Sitharaman revealed that the Indian government would be reducing its planned gross market borrowing by 120 billion rupees for the financial year ending March 2025. This decision comes as a modification from the earlier 14.13 trillion rupees announced in the interim budget. The aim is to borrow a
Warren Buffett’s Berkshire Hathaway made a surprising move by trimming its significant Bank of America holding for the first time in over four years. The conglomerate sold a substantial amount of shares, totaling almost $1.5 billion, in separate sales over the course of a few days. This adjustment marked a significant shift in Berkshire’s investment
CrowdStrike, a cybersecurity stock, experienced a 4% drop after Guggenheim downgraded it to neutral from buy. This decision was based on the belief that the company may not come out unscathed from the recent global outage. This raises concerns about the future performance of the stock and its ability to recover from the setback. Nvidia
London stocks experienced a rebound on Monday, with both the blue-chip FTSE 100 index and the mid-cap FTSE 250 showing gains. Investors were busy digesting corporate updates and evaluating the potential consequences of U.S. President Joe Biden withdrawing from the reelection race. Rentokil stood out during the trading session, surging 12.3% to claim the top
China recently made an unexpected move by cutting both short and long-term rates by 10 basis points, signaling a shift towards supporting economic growth. This decision came shortly after the release of a policy document outlining the country’s ambitions for the economy. The People’s Bank of China reduced rates on its seven-day reverse purchase agreements,
The U.S. Air Force’s Next Generation Air Dominance (NGAD) program, initially envisioned as a revolutionary leap in technology, is facing challenges that could lead to a significant reevaluation of its ambitious goals. With a development budget of $28.5 billion over five years, there are concerns that budget pressure, competing priorities, and changing goals may force
The aviation industry is constantly evolving, with advancements in technology paving the way for new modes of transportation. One such innovation is the electric vertical take-off and landing (eVTOL) aircraft, which promises to revolutionize urban travel. Eve, a subsidiary of Embraer, recently unveiled its full-scale prototype of a “flying taxi,” marking a significant milestone in