Author: Daniel snow
Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell on May 27, 2025, in New York City. Timothy A. Clary | Afp | Getty ImagesInvestors are getting nervous the U.S. government might struggle to pay it’s debt — and they are snapping up insurance in case it defaults.The cost of insuring exposure to U.S. government debt has been rising steadily and is hovering near its highest level in two years, according to LSEG data.Spreads or premiums on U.S. 1-year credit default swaps were up at 52 basis points as of Wednesday from 16…
Jensen Huang, co-founder and CEO of Nvidia Corp., speaks during a news conference in Taipei on May 21, 2025. Cheng / AFP) (Photo by I-HWA CHENG/AFP via Getty Images) I-hwa Cheng | Afp | Getty ImagesAs pleased as Wall Street was with Nvidia’s quarterly results on Wednesday, CEO Jensen Huang said the company is leaving billions of dollars in revenue on the table because it can no longer sell to China.”The $50 billion China market is effectively closed to U.S. industry,” Huang told analysts at the beginning of his prepared remarks on the earnings call. “As a result, we are…
Elon Musk interviews on CNBC from the Tesla Headquarters in Texas.CNBCElon Musk needs to spend more time at Tesla as his electric vehicle company faces a “crisis,” according to a letter on Wednesday from a group of pension fund leaders who manage investments in the company.”Tesla’s stock price volatility, declining sales, as well as disconcerting reports regarding the company’s human rights practices, and a plummeting global reputation are cause for serious concern,” the investors wrote in a letter to Robyn Denholm, the company’s board chair. “Moreover, many issues are linked to Mr. Musk’s actions outside of his role as Technoking…
The company is focused on improving the monetization of its Agentforce platform, which uses AI to automate business tasks. Source link
Meta CEO Mark Zuckerberg appears at the Meta Connect event in Menlo Park, California, on Sept. 25, 2024.David Paul Morris | Bloomberg | Getty ImagesMeta’s artificial intelligence assistant now has one billion monthly active users across the company’s family of apps, CEO Mark Zuckerberg said Wednesday at the company’s annual shareholder meeting.The “focus for this year is deepening the experience and making Meta AI the leading personal AI with an emphasis on personalization, voice conversations and entertainment,” Zuckerberg said.The artificial intelligence assistant’s one billion milestone comes after the company in April released a stand-alone app for the tool.The plan is…
Claude can now talk to you, and thanks to a Google Workspace connection, give you some serious logistical help, too. Source link
Cosmetics maker announces an agreement to acquire Rhode, a beauty and skincare brand founded by influencer, entrepreneur and model Hailey Bieber, for $1 billion. Source link
Salesforce CEO Marc Benioff participates in an interview at the World Economic Forum in Davos, Switzerland, on Jan. 22, 2025.Chris Ratcliffe | Bloomberg | Getty ImagesSalesforce shares were volatile in extended trading on Wednesday after the sales and customer service software maker reported upbeat fiscal first-quarter results and guidance.Here’s how the company performed relative to LSEG consensus:Earnings per share: $2.58 adjusted vs. 2.54 expectedRevenue: $9.83 billion vs. $9.75 billion expectedSalesforce’s revenue grew 7.6% year over year in the quarter, which ended on April 30, according to a statement. Net income of $1.54 billion, or $1.59 per share, was basically flat…
Hailey Bieber attends the Rhode UK launch party with Hailey Bieber at Chiltern Firehouse on May 17, 2023 in London, England. Dave Benett | Dave Benett Collection | Getty ImagesE.l.f. Beauty announced on Wednesday plans to acquire Hailey Bieber’s beauty brand Rhode in a deal worth up to $1 billion as the cosmetics company looks to expand further into skincare. The acquisition – E.l.f.’s biggest ever, according to FactSet – is comprised of $800 million in cash and stock, plus an additional potential $200 million payout based on Rhode’s performance over the next three years. The deal is expected to close in…
Sopa Images | Lightrocket | Getty ImagesHP reported second-quarter results that beat analysts’ estimates for revenue but missed on earnings and guidance, in part due to President Donald Trump’s sweeping tariffs. Shares sank 15% after the report.Here’s how the company did versus analysts’ estimates compiled by LSEG:Earnings per share: 71 cents, adjusted vs. 80 cents expected.Revenue: $13.22 billion vs. $13.14 billion expected.Revenue for the quarter increased 3.3% from $12.8 billion in the same period last year. HP reported net income of $406 million, or 42 cents per share, down from $607 million, or 61 cents per share, a year ago.For its third quarter,…