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Shares of Nvidia rose more than 5% Wednesday, pushing the company's market cap above Apple for the first time...
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John Mackey said Bezos let Whole Foods cut prices to strengthen it in the long run even if it lost revenue in the short term...
Continue ReadingApple is expected to unveil its big generative AI push with new capabilities for the iPhone. But don’t expect generative AI itself to spur a new iPhone sales supercycle this year...
Continue ReadingALU won a landmark victory in April 2022 after workers at Amazon's JFK8 facility, located in the New York City borough of Staten Island, voted to join the union, a first for the company in the United States. The labor movement was driven by concerns over worker safety, including an alleged lack of protections for warehouse workers during the COVID-19 pandemic. Teamsters General President Sean O'Brien announced the affiliation on Tuesday, during the union's general executive board meeting in Washington...
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General Motors (NYSE: GM) CEO Mary Barra assured investors that electrification is well underway with May being GM’s best ever EV sales month, defying the slowdown even the EV king, Tesla Inc (NASDAQ: TSLA), is struggling with. The EV push is owed to ongoing growth for Cadillac Lyriq, Chevrolet Blazer EV, GMC Hummer EV and Chevrolet Silverado EV, but more will be known when GM reports its second quarter results in July. Barra also noted that GM still expects 2024 to be a record year of EV sales...
Continue Reading(Reuters) -Nvidia's rallied to record highs on Wednesday, with the artificial intelligence chipmaker's valuation breaching the $3 trillion mark and overtaking Apple to become the world's second most valuable company. Nvidia is preparing to split its stock ten-for-one, effective on June 7, a move that could increase its appeal to individual investors. The surge in Nvidia's market value above Apple's marks a shift in Silicon Valley, which the company co-founded by Steve Jobs has dominated since it launched the iPhone in 2007...
Continue ReadingArm-based chips are coming to Windows PCs, and they pose a series threat to Intel and AMD's dominance...
Continue ReadingBoeing has launched its new Starliner astronaut capsule in a much-delayed first test flight with a crew as the company steps up the pressure on Elon Musk’s Space X...
Continue ReadingOn today's episode of Catalysts, Yahoo Finance's Madison Mills breaks down key economic data and major tech news, from Alphabet's new CFO to AI regulation. May's ISM Services PMI beat expectations, coming in at 53.8 against the expected 51. Meanwhile, the ADP National Employment Report showed private payroll growth slowed in May. FS Investments Chief US Economist Lara Rhame explains that despite the mixed data, the current economy is strong and adds, "Against that backdrop, there's no urgency for the Fed to cut rates. I think they want to get it done. I think it may not happen until after the election, and today's data doesn't really change my view of that." Alphabet (GOOGL, GOOG) announced that the current executive vice president and CFO of Eli Lilly (LLY), Anat Ashkenazi, will become the tech giant's new CFO effective July 31. Mizuho Senior Analyst Jared Holz breaks down Ashkenazi's qualifications, explaining, "I think just being able to navigate what has become an enormous company in Lilly ... $800 billion of market cap, trumps every other peer by a pretty wide margin." Bank of America Securities Senior Internet Technology Analyst Justin Post adds that Ashkenazi is joining Alphabet during a "good cost trajectory," as the company beat earnings expectations last quarter and executed small layoffs. On the AI front, tech employees are advocating for heightened oversight and regulation. Former and current employees from AI giants like OpenAI, Alphabet's Google (GOOG, GOOGL), and Anthropic have released an open letter highlighting concerns about the lack of governance to ensure the safe development of AI technologies. Appian (APPN) CEO Matt Calkins supports the letter, calling it "an extremely responsible step." This comes as Qualcomm (QCOM) is set to roll out Arm-based (ARM) chips in AI PCs. This post was written by Melanie Riehl...
Continue ReadingThe Wednesday edition of Morning Brief is getting investors set for a busy day of trading. The ADP employment report for May showed private employers added 152,000 jobs last month, less than the 175,000 economists were expecting. UBS Global Wealth Management Senior US Economist Brian Rose says that despite the weaker-than-expected report, "things are looking good for the soft landing scenario that the Fed has been aiming for." Some big news out of Big Tech. Alphabet (GOOGL, GOOG) announced its new Chief Financial Officer will be Anat Ashkenazi, who currently serves as CFO at Eli Lilly (LLY). Brad Smith and Madison Mills recap earnings from Hewlett Packard Enterprise (HPE), Campbell Soup (CPB), Dollar Tree (DLTR), and CrowdStrike (CRWD). They also discuss a bid from some financial giants to create a stock exchange based in Texas. For more expert insight and the latest market action, click here. This post was written by Stephanie Mikulich...
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