Dell Technologies experienced a significant drop in share price, with shares falling more than 16% following the release of the company’s fiscal first-quarter results. Despite beating analysts’ expectations, investors were discouraged by Dell’s lower-than-expected artificial intelligence server backlog and the anticipated decline in margins. The stock market’s negative reaction to these news highlights the underlying
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Morgan Stanley’s analysts recently increased their price targets on Toyota and Honda, with Honda specifically highlighted as their top choice among Japanese automakers due to improved profitability prospects and sustained shareholder returns. This strategic move is based on the idea that Honda’s profitability is expected to shine brighter in the coming days with a broader
Rashawn Russell, a former investment banker at Deutsche Bank, was sentenced to 41 months in prison after admitting to a Ponzi-like fraud that involved promising investors guaranteed returns from cryptocurrency trading. The scheme, which ran from November 2020 to August 2022, targeted friends, former college classmates, and colleagues at Deutsche Bank. Russell claimed that he
China’s manufacturing activity took an unexpected hit in May, raising concerns about the need for additional stimulus to revive the economy. The official manufacturing purchasing managers’ index (PMI) fell to 49.5 in May from 50.4 in April, falling below the 50-mark that separates growth from contraction. This disappointing result was also below analysts’ forecast of
The recent election projections in South Africa have sparked significant political uncertainty, resulting in a decline in the country’s currency, stocks, and bonds. The African National Congress (ANC) is facing the possibility of losing its parliamentary majority for the first time in 30 years, which could have far-reaching implications for the nation’s economic and fiscal
In a recent financial conference, Bank of America CEO Brian Moynihan highlighted a noticeable trend among U.S. consumers and businesses. Both groups have been exercising caution when it comes to spending, largely due to the impact of elevated inflation and interest rates. This caution has led to a significant slowdown in the rate of purchases
In April, signed sales contracts on existing homes experienced a significant drop of 7.7% compared to March, marking the slowest pace since April 2020. This decline, reported by the National Association of Realtors, came as a surprise to many industry experts who anticipated flat sales compared to the previous month. The decrease in pending sales,
Boeing CEO Dave Calhoun is set to meet with the Federal Aviation Administration (FAA) along with other top company leaders to present a quality improvement plan. This plan is aimed at showcasing better staff training and production practices at Boeing’s factories. The FAA ordered this report after a near-catastrophic incident involving an airplane door panel
European stock markets experienced a decline on Thursday, largely influenced by the impact of rising global bond yields. At 03:10 ET (07:10 GMT), the DAX index in Germany was seen trading 0.3% lower, accompanied by a 0.2% drop in the FTSE 100 in the U.K. Conversely, the CAC 40 in France recorded a slight increase
In response to the escalating demand for artificial intelligence and its impact on energy consumption, Singapore has unveiled a green data center roadmap. This initiative is geared towards supporting the digital economy’s growth while addressing the strain on energy resources caused by the surge in AI and computing requirements. Senior Minister of State for Communications
Columbia Pictures’ Bad Boys: Ride or Die is set to hit theaters in China on June 22, marking the second installment of the Bad Boys franchise to be released in mainland China. The previous film, Bad Boys for Life, debuted in China in August 2020 amidst the Covid-19 pandemic, grossing a mere $3.2M. Despite this
The recent transition to faster trade settlements for securities in the U.S. has been met with processing bumps, according to market participants. The move from a two-day settlement cycle (T+2) to a one-day settlement cycle (T+1) was adopted to comply with a rule change by the U.S. Securities and Exchange Commission. This shift in the
The recent market activity has taken a toll on Salesforce, with shares plummeting over 14% after missing first-quarter revenue estimates. The company did manage to surpass adjusted earnings expectations, but its current-quarter guidance fell short on both top and bottom lines. This drop signifies the importance of meeting revenue projections in maintaining investor confidence. UiPath
Thailand’s central bank has indicated that adjustments to interest rates may be considered based on changes in the outlook for the economy and inflation. However, Deputy Governor Alisara Mahasandana emphasized that interest rates are not the primary tool for stimulating economic growth. The Bank of Thailand’s current inflation target range of 1% to 3% is