Day: May 15, 2024
Citi names one under-the-radar stock to buy on an AI opportunity, giving it 22% upside
Citi recently named one under-the-radar company to buy on a “data and AI opportunity.” That’s U.S.-listed ExlService Holdings , an analytics and digital solutions company. “With AI, EXLS views its differentiation and opportunity in its ability to combine domain, data, and AI expertise to embed AI into client workflows and fine-tune models to get higher […]
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Many Indian stocks are in a ‘bubble,’ investor says, revealing the stock he just sold
India’s mid-cap stocks are in a “bubble” despite the country’s promising economic prospects, according to contrarian fund manager Jonathan Pines. Pines, who runs Federated Hermes’ $3.1 billion Asia ex-Japan fund , believes there is a disconnect between the nation’s growth potential and current stock market valuations. “If you were a top-down investor, India looks amazing […]
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China is still an important market even if investors diversify from it now, says Peak XV
Shailendra Singh. Lionel Ng | Bloomberg | Getty Images China will remain an important market for investors in the long term, even if other countries are now benefiting from investments flowing out of China amid escalating tensions with the U.S., according to Peak XV Partners, formerly Sequoia Capital India and Southeast Asia. “The China Plus […]
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David Tepper’s Appaloosa is betting big on Chinese tech stocks
Billionaire investor David Tepper’s hedge fund increased its bets on Chinese tech stocks during the first three months of 2024, while dialing back exposure to some key domestic names. Appaloosa Management’s quarterly report on Wednesday showed that Alibaba is now its top holding after buying several hundred million dollars worth of shares. Similarly, the fund […]
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These wall-climbing, AI-powered robots are finding the flaws in ‘D’ grade US infrastructure, from commuter bridges to military hardware
The collapse of Baltimore’s Francis Scott Key Bridge earlier this year and an I-95 overpass in Philadelphia last June weren’t triggered by structural flaws — a runaway, powerless ocean ship and tanker fire were the culprits. But the disasters were the latest examples of an issue seen across the U.S.: trillions of dollars worth of critical — […]
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Stocks making the biggest moves after hours: Chubb, Cisco Systems, Palo Alto Networks and more
Check out the companies making headlines in extended trading. Chubb — The property and casualty insurer gained nearly 6% after Berkshire Hathaway revealed it has bought nearly 26 million shares of Zurich-based company for a stake worth $6.7 billion. Chubb became Berkshire’s ninth biggest holding at the end of March, according to a new regulatory […]
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Palo Alto Networks is buying security assets from IBM to expand customer base
Nikesh Arora CEO & Chairman Palo Alto Networks, speaking on CNBC’s Squawk Box at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024. Adam Galici | CNBC Palo Alto Networks is buying cloud security software assets from IBM as part of a broader partnership that will give the cybersecurity company access to more […]
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Warren Buffett’s Berkshire Hathaway reveals insurer Chubb as confidential stock it’s been buying
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC Warren Buffett finally revealed his secret stock pick in a new regulatory filing, and it’s insurer Chubb. His conglomerate Berkshire Hathaway has bought nearly 26 million shares of Zurich-based Chubb for a stake worth $6.7 billion. The […]
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Cisco reports better-than-expected results even as revenue suffers steepest drop in 15 years
Chuck Robbins, chief executive officer of Cisco, participates in a Bloomberg interview at the World Economic Forum in Davos, Switzerland, on Jan. 17, 2024. Stefan Wermuth | Bloomberg | Getty Images Cisco reported earnings and revenue for the fiscal third quarter that topped Wall Street’s estimates, even with sales dropping from a year earlier. The […]
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A half-million school buses across US could become EV battery powerhouse feeding energy back onto the grid
The nightlife of school buses is about to get more interesting. Zum, which provides student transportation including EV buses to 4,000 schools across the country, is partnering with the Oakland Unified School District to start selling power stored in EV batteries back to the California utility grid. Oakland is the first school district in the […]
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