Brazil’s decision to suspend access to Elon Musk’s X social network highlights a legal controversy between the telecommunications regulator and a judge in the country. The suspension was a result of X missing a court-imposed deadline to name a legal representative in Brazil. This action reflects a clash between Musk and Supreme Court Justice Alexandre
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Dell reported its quarterly results, exceeding Wall Street’s expectations with a significant increase in server sales. The company’s revenue for the fiscal second quarter stood at $25.03 billion, surpassing the estimated $24.53 billion. The earnings per share (EPS) also outperformed predictions at $1.89 adjusted, compared to the anticipated $1.71. This positive outcome led to a
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
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
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
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
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
Despite an inflation-fueled sales slump that hit the toy industry in the first half of 2024, Lego managed to outperform its competitors, with revenue jumping 13% in the first six months of the year. Niels Christiansen, CEO of the Danish toymaker, attributed this success to the strength of Lego Icons, Lego Creator, and the partnership
As the summer season on Broadway comes to a close, the total grosses for the week ending August 25th were down by approximately 10% compared to the previous week. This decline can be attributed, at least in part, to the summer edition of Kids‘ Night on Broadway, where 19 out of 24 shows offered free
The S&P 500 saw a decline on Monday, led by Nvidia, a prominent player in the AI industry, ahead of its quarterly report. Investors are eagerly awaiting inflation data to get an idea about the direction of interest rate cuts by the Federal Reserve. The Nasdaq also experienced a drop, while the Dow Jones Industrial
In the recent quarterly reports of major Chinese companies, it has been highlighted that the local market poses challenges for stock pickers. Lorraine Tan, the director of Asia equity research at Morningstar, emphasized in a recent interview the unique outperformance of certain companies in the market. This trend suggests that there is more weakness across
One of the major analyst moves in the AI sector this week came from Evercore ISI, recommending a buy on Nvidia (NASDAQ:NVDA) stock ahead of its upcoming earnings report. The investment bank believes that recent concerns about potential delays in the release of the Blackwell system are unwarranted. They point to the strong demand for
The U.S. stock market experienced a significant rally on Friday following the dovish remarks made by Federal Reserve Chair Jerome Powell. Investors were quick to react positively to Powell’s indications that the central bank is likely to cut its key policy rate in September. This news solidified expectations of an upcoming rate cut, which would