Monthly Archives: October 2024
Stock futures are little changed after S&P 500 slips from record highs: Live updates
(CNBC)Stock futures were calm on Tuesday evening as Wall Street looks to see whether equities can be rebound to record highs this week. Futures tied to the S&P 500 were flat. Nasdaq 100 futures ticked up by about 0.2%, while Dow Jones Industrial Average futures lost […]
Elliott calls for special shareholder meeting after nominating eight new Southwest directors
(Hedgeweek) Activist investment firm Elliott Investment Management has escalated its battle with Southwest Airlines by calling for a special meeting to vote on new board members after nominating eight new candidates who could potentially reshape the airline’s strategy, according to […]
UBS hedge fund sees merger-arb trade opportunity despite regulatory headwinds
(Hedgeweek) UBS O’Connor, the $12bn hedge fund unit of UBS Asset Management, remains optimistic about the potential for a rebound in merger-arbitrage performance despite a difficult YTD due to regulatory challenges disrupting high-profile deals, according to a report by Bloomberg. […]
Goldman Sachs beats on profit and revenue as stock trading and investment banking boost results
(CNBC) Goldman Sachs topped estimates for third-quarter profit and revenue on strong results from its stock trading and investment banking operations. The bank said profit surged 45% from a year earlier to $2.99 billion, or $8.40 per share, as revenue climbed 7% to […]
ASML share plunge wipes over $50 billion off Dutch chip giant’s value
(CNBC) Shares in semiconductor equipment maker ASML fell 16% on Tuesday, after the Dutch company published financial results a day early, issuing disappointing sales forecasts. ASML’s share plunge led the critical semiconductor firm to lose 48.7 billion euros ($52.99 billion) in market capitalization […]
Alibaba’s international arm says its new AI translation tool beats Google and ChatGPT
(CNBC) Chinese e-commerce giant Alibaba’s international arm on Wednesday launched an updated version of its artificial intelligence-powered translation tool that, it says, is better than products offered by Google, DeepL and ChatGPT. That’s based on an assessment of Alibaba International’s new […]
Bank of America tops estimates on better-than-expected trading revenue
(CNBC) The bank said Tuesday that net income fell 12% from a year earlier to $6.9 billion, or 81 cents a share, on higher provisions for loan losses and rising expenses. Revenue rose less than 1% to $25.49 billion as gains in […]
Dow futures are little changed after index closes above 43,000 for the first time: Live updates
(CNBC) Dow Jones Industrial Average futures are near flat Monday night after the blue-chip index closed at a record. Futures tied to the 30-stock average added 55 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures also both traded near their flatlines. Those moves […]
Nvidia closes at record as AI chipmaker’s market cap tops $3.4 trillion
(CNBC) Nvidia shares closed at a record on Monday as Wall Street gears up for earnings season and updates from all of the chipmaker’s top customers on their planned spending on artificial intelligence infrastructure. The stock climbed 2.4% to close at […]
Fed Governor Waller sees need for ‘more caution’ ahead when lowering interest rates
(CNBC) Federal Reserve Governor Christopher Waller on Monday signaled that future interest rate cuts will be less aggressive than the big move in September as he expressed concern that the economy could still be running at a hotter-than-desired pace. Citing recent […]
Warren Buffett’s Berkshire Hathaway hikes its SiriusXM stake to 32% after Liberty deal
(CNBC) Warren Buffett’s Berkshire Hathaway continued to increase its stake in SiriusXM, now owning 32% of the New York-based satellite radio company. The Omaha, Nebraska-based conglomerate purchased roughly 3.6 million shares for about $87 million in separate transactions Wednesday through Friday, according to a […]
Asian semiconductor stocks rise after shares of AI chip darling Nvidia hit a record high
(CNBC) Asian chip stocks rose on Tuesday after Nvidia closed at a record high overnight as the chip company continues to ride the massive artificial intelligence wave. Stocks tied to Nvidia suppliers as well as other chip companies advanced as the bullish […]
