Month: November 2024
Stocks making the biggest moves after hours: Nvidia, Snowflake and more
Check out the companies making headlines in extended trading: Nvidia — The artificial intelligence darling slid nearly 2% despite exceeding expectations for the third quarter and providing strong guidance. Nvidia posted 81 cents in adjusted earnings per share and $35.08 billion in revenue. Analysts surveyed by LSEG were expecting 75 cents in earnings per share […]
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Comcast’s cable network spinoff may be a signal to the media industry for necessary change
Nikolas Kokovlis | Nurphoto | Getty Images Comcast shares posted modest gains Wednesday after the company announced its plan to spin off all of NBCUniversal’s cable networks — except Bravo — into a separately publicly traded entity. Investors’ initial shrug at the proposed transaction underscores the uncertainty of the maneuver. The hope for Comcast is […]
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Ethics Committee deadlocks on releasing Matt Gaetz sex, drug probe report
The sign for the House Committee on Ethics is seen outside of their office in the Longworth House Office Building on November 20, 2024 in Washington, DC. Kevin Dietsch | Getty Images The bipartisan House Ethics Committee deadlocked Wednesday on whether to release a report on its investigation into allegations of sexual misconduct and other […]
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Archegos’ Bill Hwang sentenced to 18 years in prison for massive U.S. fraud
Archegos Capital Management founder Sung Kook “Bill” Hwang attends his sentencing on a fraud conviction stemming from the 2021 collapse of his $36 billion private investment firm, at the United States District Court in Manhattan in New York City, U.S., November 20, 2024. Brendan Mcdermid | Reuters Former billionaire investor Sung Kook “Bill” Hwang was […]
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American Airlines to shame boarding line cutters with new technology
Haiyun Jiang | Bloomberg | Getty Images Watch out, line cutters. American Airlines is rolling out new technology across the country to crack down on travelers trying to get on the airplane before their boarding group is called. Customers who try to scan a boarding pass before their group is called will hear a two-note […]
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Billionaire Gautam Adani charged in New York with massive fraud
Chairperson of Indian conglomerate Adani Group, Gautam Adani addresses a gathering during the inaugural session of Vibrant Gujarat Global Summit 2024 in Gandhinagar on January 10, 2024. Punit Paranjpe | AFP | Getty Images Gautam Adani, the chair of India’s Adani Group conglometerate and one of the world’s richest people, has been indicted in New […]
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Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures
Sopa Images | Lightrocket | Getty Images Business spending on generative AI surged 500% this year, from $2.3 billion in 2023 to $13.8 billion, according to data released by Menlo Ventures on Wednesday. The report also found that OpenAI ceded market share in enterprise AI, declining from 50% to 34%. Anthropic doubled its market share […]
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Microsoft, Apple are the most under-owned megacap tech stocks, poised for a rebound, Morgan Stanley says
Microsoft emerged as the most under-owned megacap stock among institutional investors, signaling a rebound could be on the horizon, according to Morgan Stanley. The Wall Street firm looked at new regulatory filings from the 15 largest tech companies in its coverage and then figured out each firm’s average weighting within the top 100 actively managed […]
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McDonald’s preparing a 2025 ‘McValue’ offering
A McDonald’s is seen in the Flatbush neighborhood in Brooklyn, New York City, on Oct. 23, 2024. Michael M. Santiago | Getty Images McDonald’s is preparing 2025 value offerings in a bid to hang onto customers who are fed up with high costs at restaurants. The company is working on a new “McValue” approach for […]
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Corporate insiders are selling shares at a record pace in the fourth quarter
Corporate insiders are taking advantage of the stock market’s postelection boom to all-time highs, unloading shares at record levels. The ratio of unique sellers-to-buyers among S & P 500 companies is 23.7-to-1 in the fourth quarter — the highest level since digital disclosures of insider trades were first mandated back in 2004, according to data […]
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