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Trump’s tech backers are ‘making a big mistake,’ Sequoia’s Mike Moritz says
Michael Moritz, Sequoia Capital Scott Mlyn | CNBC As leading tech investors continue to vocally take sides ahead of the 2024 presidential election, legendary venture capitalist Michael Moritz is making his preference clear. In a Financial Times opinion piece published on Monday, Moritz wrote that those in the industry who are supporting Donald Trump “are […]
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$1 trillion wipeout: Market rout punishes mega-cap tech
Traders work on the floor of the New York Stock Exchange during morning trading on July 31, 2024. Michael M. Santiago | Getty Images As U.S. markets opened for trading on Monday, tech’s mega-cap companies lost about $1 trillion in market cap, deepening a downturn that sent the Nasdaq into correction territory last week. Nvidia […]
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Chicago Fed President Goolsbee says if economy deteriorates, Fed will ‘fix it’
Key Points Chicago Federal Reserve President Austan Goolsbee said Monday on CNBC that the central bank would react to signs of weakness in the economy. “I’m not going to bind our hands of what should happen going forward because we’re still going to get more information. But if we are not overheating, we should not […]
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Eli Lilly’s Zepbound and Mounjaro now available in U.S. after shortages, FDA says
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023. Brendan McDermid | Reuters All doses of Eli Lilly’s highly popular weight loss injection Zepbound and diabetes drug Mounjaro are now available in the U.S., according to an update on the U.S. Food and Drug […]
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Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged higher to 4.3%, […]
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Here’s everything you need to know about Friday’s big jobs report
People line up as they wait for the JobNewsUSA.com South Florida Job Fair to open at the Amerant Bank Arena on June 26, 2024, in Sunrise, Florida. Joe Raedle | Getty Images The U.S. labor market may have cooled some in July, as a gradual slowdown in the economy and Hurricane Beryl are expected to […]
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Biogen beats expectations, hikes outlook as Alzheimer’s drug Leqembi and other new products gain traction
A test tube is seen in front of displayed Biogen logo in this illustration taken on, December 1, 2021. Dado Ruvic | Reuters Biogen on Thursday reported second-quarter earnings and revenue that topped estimates and hiked its full-year guidance, as the company’s cost cuts showed progress and sales of its breakthrough Alzheimer’s drug, Leqembi, and […]
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Moderna stock falls more than 10% as it slashes guidance on low EU sales, tough U.S. vaccine market
Moderna on Thursday reported second-quarter revenue that beat expectations but slashed its full-year sales guidance, citing lower expected sales in Europe, a “competitive environment” for respiratory vaccines in the U.S. and the potential for deferred international revenue into 2025. The biotech company now expects 2024 product revenue to come in between $3 billion to $3.5 […]
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Fed holds rates steady and notes progress on inflation
WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit […]
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Stocks making the biggest moves premarket: Pinterest, Match Group, Advanced Micro Devices and more
Check out the companies making headlines before the bell: DuPont — Shares popped 5% on the back of better-than-expected results in the second quarter. The chemical maker earned 97 cents per share, excluding certain items, on revenue of $3.17 billion. Analysts expected a profit of 85 cents per share on revenue of $3.05 billion, according […]
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