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Alphabet shares rose 2.5% in early European trading on Thursday after the Google parent company raised its capital spending plans, following a strong beat of Wall Street estimates for quarterly revenue and profit. On Wednesday, the search giant cited surging demand for its cloud computing services as it increased its capital expenditure forecast for the year to about $85 billion from $75 billion, and signalled a further rise in 2026...
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NEW YORK (Reuters) -This holiday season, U.S. parents may have to make an extra pit stop - not for toys, but for the batteries that power them, as manufacturers pare down on frills and packaging to cut costs amid rising tariffs. Toy makers that serve retail giants like Walmart, Target and Amazon are reducing the number of accessories in toy kitchen sets, removing batteries from electronic playsets, simplifying doll makeup and reducing packaging, as a 30% blanket tariff currently imposed on Chinese imports puts a damper on their bottom lines. The duties imposed on China by U.S. President Donald Trump are particularly painful for companies like Hasbro and Mattel, as 80% of toys sold in the U.S. come from China, according to trade group The Toy Association...
Continue ReadingNew car sales in Europe fell more than 5% in June, the European Automobile Manufacturers Association (ACEA) said on Thursday, in a reflection of the global challenges faced by automakers. Tesla lost market share for a sixth consecutive month despite a rise in overall sales of electric cars, while the four best-selling groups in Europe, Volkswagen, Stellantis, Renault and Hyundai, all sold fewer cars than in June 2024. WHY IT'S IMPORTANT European auto makers have booked multi-billion losses and issued profit warnings as they struggle to handle competition from China, U.S. import tariffs of 25%, and domestic regulations aimed at speeding up the EV transition...
Continue ReadingCorporate operations have been overshadowed by erratic U.S. trade action that has upended supply chains and left firms to navigate fluid tariffs on top of broader economic uncertainties such as regulatory change and currency fluctuation. But tech titans Alphabet, SK Hynix and Infosys - which all reported earnings that beat market forecasts - predicted brighter days to come, with Alphabet and SK Hynix both flagging plans to boost spending. Nvidia supplier SK Hynix booked record quarterly profit, boosted by strong demand for artificial intelligence chips and customers stockpiling ahead of potential U.S. tariffs...
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AMSTERDAM (Reuters) -STMicroelectronics reported a second-quarter loss on Thursday, a performance that was worse than market expectations and hit by restructuring costs. The operating loss included a $190 million impairment, restructuring charges and other costs for the quarter, STMicro said in a statement. Without the restructuring and impairment costs, ST Micro said its profits would have reached $57 million...
Continue ReadingTesla shares tumbled in extended trading Wednesday after the EV maker's quarterly results fell short of Wall Street’s expectations and CEO Elon Musk warned of a "few rough quarters" ahead. Monitor these key chart levels...
Continue ReadingThe fallout from Elon Musk's plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter...
Continue ReadingTesla's profit plunges again as the fallout from Musk's politics continues to repel buyers...
Continue ReadingAmazon's AI investments, AWS growth, and cloud leadership make it a strong buy. AMZN has premium valuation metrics and a discounted PEG ratio. See more here...
Continue ReadingAs surging demand threatens to fragment the supply chain into costly proprietary silos, the Open Compute Project, an nonprofit organization that has standardized data center hardware for tech giants like Meta and Microsoft, has positioned itself as the antidote to a looming crisis in AI infrastructure, with CEO George Tchaparian pointing out that open hardware standards will prevent market fragmentation as AI infrastructure demands explode...
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