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On Tuesday, Nio Inc (NYSE: NIO) reported a narrower-than-expected third quarter loss. Like other automakers in China, Nio was pressured to slash prices, thinning its margins, in response to the price war that Tesla Inc (NASDAQ: TSLA) ignited at the beginning of the year. Nio’s Third Quarter Highlights Nio reported revenue below estimates of 19.4 billion yuan as sales amounted to 19.1 billion Chinese yuan which is about $2.7 billion. On the bright side, revenue rose 47% YoY. Unfortunately, Nio st...
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Dan Loeb's 3Q2023 portfolio value decreased by 3%, with top holdings making up 34%. Third Point's return was -0.9% vs. -3.3% for S&P 500. Read more here...
Continue ReadingElon Musk's artificial intelligence start-up xAI is seeking to raise as much as $1 billion, a Securities and Exchange Commission filing from this week shows...
Continue ReadingGoogle unveiled Gemini, a new artificial intelligence (AI) model which could make the tech giant more competitive in the AI race...
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The WisdomTree US quality growth fund ETF has beaten the S&P 500 YTD with a return of ~50%, focusing on top stocks like Apple and Amazon. Read more on QGRW here...
Continue ReadingFormer auto designer Vicki von Holzhausen thinks carmakers can make their electric vehicles even greener — with the help of bamboo and bananas. Vegan leather made from those plants is a specialty of an eponymous “material innovation” company she founded in 2015 in Malibu, California. “We’re working with all of the (vehicle) manufacturers,” von Holzhausen said in an interview...
Continue ReadingU.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft's $69 billion deal to buy "Call of Duty" maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. Microsoft closed the deal on Oct. 13 after winning approval from British regulators. Speaking for the Federal Trade Commission, lawyer Imad Abyad argued that the lower-court judge held the agency to too high a standard, effectively requiring it to prove that the deal was anticompetitive...
Continue ReadingIn this article, we discuss the 11 youngest hedge fund billionaires and their top stock picks. To skip the detailed analysis of the hedge fund industry and its performance, go directly to the 5 Youngest Hedge Fund Billionaires and Their Top Stock Picks. Hedge funds are exclusive investment pools that attract high to ultra-high-net-worth individuals. […]...
Continue ReadingAt this point, you've perhaps finished the bulk of your holiday shopping and are done raiding your savings account to buy your loved one the electronics and apparel they've been jonesing for. The good news is that Amazon has a host of fun items you can find at reasonable prices. Scratch paper makes a great token gift for kids of all ages; it's coated so that when you scratch the coating off, you reveal color underneath...
Continue ReadingShares of PayPal Holdings Inc. rose 2.78% to $59.53 Wednesday, on what proved to be an all-around dismal trading session for the stock market, with the S&P.....
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