Monthly Archives: May 2024
CPI report shows inflation easing in April, with consumer prices still rising 3.4% from a year ago
(CNBC) Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent. The consumer price index, a broad measure of how much goods and […]
Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years
(CNBC) Cisco’s revenue declined by about 13% year over year in the quarter, which ended on April 27, according to a statement. That’s the steepest slide since 2009. Net income fell 41% to $1.89 billion, or 46 cents per share, […]
Netflix ad-supported tier has 40 million monthly users, nearly double previous count
(CNBC) Netflix’s cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday. That’s nearly double the 23 million figure the streaming giant shared in January. The company also said it would launch its own advertising platform […]
Dell surges 11% on optimism it has secured big AI server orders
(CNBC) Dell shares rose more than 11% on Wednesday to an all-time high after Morgan Stanley raised its price target and predicted that the company would rake in sales from the insatiable demand for artificial intelligence servers. Dell is seeing accelerating momentum, especially […]
Stock futures are little changed as Wall Street readies for key inflation report: Live updates
(CNBC) Stock futures were little changed as Wall Street braced for April’s consumer price index. Futures tied to the Dow Jones Industrial Average added 17 points, while S&P 500 futures and Nasdaq 100 futures hovered near the flatline. Boot Barn dropped more than 6% on disappointing guidance […]
OpenAI co-founder Ilya Sutskever says he will leave the startup
(CNBC) OpenAI co-founder Ilya Sutskever said Tuesday that he’s leaving the Microsoft-backed startup. “I am excited for what comes next — a project that is very personally meaningful to me about which I will share details in due time.” The departure […]
Fed Chair Powell says inflation has been higher than thought, expects rates to hold steady
(CNBC) Federal Reserve Chair Jerome Powell reiterated Tuesday that inflation is falling more slowly than expected and will keep the central bank on hold for an extended period. Speaking to the annual general meeting of the Foreign Bankers’ Association in Amsterdam, the central bank leader noted […]
Why bitcoin hasn’t joined the latest meme stock craze this week
(CNBC) Bitcoin isn’t running alongside meme stocks as it did three years ago, although this week’s stock market action might indicate a big crypto rally is on its way. GameStop and fellow meme stock AMC Entertainment are each up more than […]
AMC’s meme stock windfall may help it pay down a massive debt load
(CNBC) Can AMC Entertainment capitalize on a second meme craze? The stock, alongside GameStop, surged this week after “Roaring Kitty,” the man who inspired the massive short squeeze of 2021, posted online for the first time in nearly three years. The return of Roaring […]
Digital assets fund see first inflows in five weeks
(Hedgeweek) Digital asset investment products saw inflows totalling $130m last week, the first positive flows seen in five weeks, according to the latest digital assets fund flows weekly report from CoinShares. To read this article:
Stock futures are little changed as investors brace for key inflation reports: Live updates
(CNBC) Stock futures flickered near the flatline Monday evening as Wall Street braced for the release of key inflation reports. S&P 500 futures inched down 0.04%, while Nasdaq 100 futures slipped 0.08%. Dow Jones Industrial Average futures lost 5 points, or 0.01%. To read this […]
GameStop short sellers lost almost $1 billion in Monday’s monster rally
(CNBC) The jaw-dropping rally in GameStop on Monday caused losses approaching $1billion for short sellers, according to data from S3 Partners. With GameStop soaring 74%, short-selling hedge funds suffered a mark-to-market loss of $838 million in the brick-and-mortar video game retailer, data […]