Elon Musk announced on social media that Tesla shareholders were voting to approve a $56 billion pay package for him, and also to move the legal home of the electric vehicle maker to Texas. The voting results indicated wide margins in favor of both proposals. Shareholders are considering ratifying Musk’s 2018 incentive package, which was
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Oracle, a leading software maker, saw its shares spike by more than 12% to reach an all-time high following the announcement of cloud deals with Google and OpenAI. The database management company revealed plans to bring its database to Google’s cloud in November, as well as partnering with Microsoft and OpenAI to provide supplemental computing
Apple is gearing up to unveil its latest advancements in artificial intelligence at the Apple Worldwide Developers Conference (WWDC) 2024. With a focus on integrating AI across its software suite, including a revamped Siri voice assistant and a potential partnership with OpenAI, Apple aims to demonstrate its commitment to innovation and staying ahead in the
With the recent surprising election results, Prime Minister Narendra Modi has been sworn in for a third term, backed by the National Democratic Alliance (NDA). Despite the Bharatiya Janata Party (BJP) not securing a majority on its own, the NDA coalition garnered a total of 293 seats in parliament, paving the way for Modi to
Investors are eagerly watching the performance of off-price retailer Burlington Stores (BURL), as it continues to impress with its positive financial results. The first quarter of fiscal 2024 saw the company post upbeat numbers, leading to an increase in profit margin and earnings outlook for the full year. This positive news prompted Jefferies analyst Corey
China’s largest food delivery platform, Meituan, has identified a significant shift in consumer spending patterns towards experiences, particularly in the travel sector. The CEO of Meituan, Wang Xing, highlighted during a recent earnings call that consumers are increasingly willing to allocate a larger portion of their budget to travel experiences. This shifting trend indicates not
After evaluating the recent upgrades and downgrades made by Wall Street analysts, one of the key takeaways is the double upgrade of Best Buy by Citi. The research team at Citi has raised their target price for Best Buy to $100, citing positive catalysts such as tech replacement cycles and margin execution. They believe that
The Covid-19 pandemic has revealed both strengths and weaknesses in the American economy, and one sector that has been particularly affected is child care. As day cares closed their doors and schools shifted to virtual learning, parents were left struggling to balance work and childcare responsibilities. Although the employment levels in the child care sector
The recent passage of legislation in New York to restrict social media platforms from exposing addictive content to users under the age of 18 without parental consent marks an important step in addressing the risks that children face online. The bills are aimed at curbing the negative impact of excessive social media use on adolescent
The Food and Drug Administration (FDA) has recently extended the approval of GSK’s respiratory syncytial virus (RSV) vaccine, Arexvy, to include adults between the ages of 50 to 59 who are at heightened risk of severe illness from the potentially deadly virus. This marks a significant milestone as the first-ever vaccine endorsed by the FDA
After eight successful years at Kino Lorber, Wendy Lidell, the Senior Vice President of Theatrical Acquisitions and Distribution, is set to depart the company at the end of June. This news comes as a significant shift in leadership for the indie distributor, as Lidell has been instrumental in overseeing all theatrical acquisitions and distribution efforts
In a surprising turn of events, Autonomy founder Mike Lynch has been acquitted of fraud by a jury in San Francisco, marking a major win for the entrepreneur who has been embroiled in legal troubles since the sale of his company to Hewlett-Packard (HP) in 2011. Lynch, along with former Autonomy finance executive Stephen Chamberlain,
Nvidia, a company at the forefront of generative artificial intelligence, saw its shares surge by 5% to $1,224.40 on Wednesday, reaching a remarkable milestone of a market cap above $3 trillion for the first time. This achievement comes as investors eagerly seek to invest in a company that has been driving the boom in AI
Nvidia made headlines on Wednesday when it briefly surpassed Apple in market cap during intraday trading. This milestone comes as the chipmaker solidifies its position as the primary beneficiary of the artificial intelligence boom. With a market cap of $3.007 trillion, Nvidia is now on track to become the second most valuable U.S. company, overtaking