Day: June 17, 2024
‘Robust growth opportunity’: Citi loves this global stock as it pivots to AI data centers
Industrial property firm Goodman Group is converting its traditional warehouses into data centers to meet the surging demand for artificial intelligence infrastructure. Citi believes this trend will likely drive “double-digit medium-term earnings growth” and has added the Australian stock to its “Pan-Asia Focus list.” Data centers are large buildings that house critical computing infrastructure and […]
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Stock futures are little changed as investors await May retail sales data: Live updates
Traders walk the floor during morning trading at the New York Stock Exchange on May 14, 2024. Spencer Platt | Getty Images Stock futures are near flat Monday night after a winning day on Wall Street as investors gear up for May retail sales data. Dow Jones Industrial Average futures rose 28 points, or 0.1%. […]
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Activist Starboard sues Autodesk in bid to mount proxy fight
Autodesk president and CEO Andrew Anagnost. Autodesk Starboard Value sued software maker Autodesk on Monday to delay the company’s annual meeting and reopen the board nominating window and allow the activist to mount a proxy fight. Activists can typically only begin a proxy fight, involving the nomination of a slate of directors to replace the existing board, if […]
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FDA approves Merck vaccine designed to protect adults from bacteria that can cause pneumonia, serious infections
Zoom In IconArrows pointing outwards Merck’s new pneumococcal vaccine. Courtesy: Merck The Food and Drug Administration on Monday approved Merck‘s new vaccine designed to protect adults from a bacteria known as pneumococcus that can cause serious illnesses and a lung infection called pneumonia, the drugmaker said. Merck’s shot, called Capvaxive, specifically protects against 21 strains […]
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Apple stops offering buy now, pay later loans in U.S.
Apple CEO Tim Cook gestures during the annual developer conference event at the company’s headquarters in Cupertino, California, U.S., June 10, 2024. Carlos Barria | Reuters Apple said on Monday that it has stopped issuing loans through Apple Pay Later, its buy-now-pay-later program that launched last year. The move comes after Apple said it would […]
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McDonald’s to end AI drive-through test with IBM
McDonald’s is changing course on its artificial intelligence plans. The fast-food giant will end a test run of its AI drive-through technology partnership with IBM in more than 100 restaurants. The so-called Automated Order Taker will be shut off no later than July 26, according to a memo sent to franchisees late last week, obtained […]
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Jeffrey Gundlach likes this corner of fixed income as the Fed keeps rates high. It’s yielding 8%
The timing of cuts from the Federal Reserve is looking uncertain, but fixed income investor Jeffrey Gundlach has a way to play the theme: BB-rated bank loans. Central bank policymakers kept rates steady at the conclusion of their June meeting last week, maintaining the key interest rate at its range of 5.25% to 5.5%. But […]
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Trump and Biden shift strategies to compete for crypto voters: CNBC Crypto World
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Jacob Martin, […]
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GameStop drops more than 12%, hits session lows after annual meeting fails to offer details on firm’s strategy
Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. Brendan McDermid | Reuters GameStop shares dropped to session lows Monday after the company’s highly anticipated annual meeting failed to offer any concrete updates on the video game […]
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New Jersey Democratic kingmaker George Norcross indicted on racketeering charges
New Jersey businessman and co-owner of The Philadelphia Inquirer, George Norcross walks to Judge Patricia McInerney’s courtroom at City Hall in Philadelphia. Matt Rourke | AP George Norcross, who for decades had been a Democratic political kingmaker in New Jersey, was charged with racketeering in an indictment unsealed Monday. Norcross’s brother, Phillip Norcross, and four […]
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