What's New In Consumer Tech World Last Week? News That You Should Know (May 5...
Sunday, May 12,2024,16:24
Here’s what happened in the world of consumer tech in the last week: After ditching its electric vehicle plans, Apple Inc. (NASDAQ: AAPL ) could rekindle interest in the segment if rumors are anything to go by. A report said late Monday that Cupertino was in talks to forge a partnership with Rivian Automotive, Inc (NASDAQ: RIVN ) . President Joe Biden and Microsoft President Brad Smith are set to announce a significant $3.3 billion investment in Wisconsin, a move that contrasts with former President Donald Trump’s failed tech project in the same state . According to media reports, the sensitive details of an und... .. read more..
Who Would Replace Tim Cook At Apple? Gurman Weighs In On 'Broader Succession ...
Sunday, May 12,2024,15:14
Cook’s Replacement: Apple’s executive team has remained largely unchanged over the past twenty years, with many members aging alongside CEO Tim Cook . Mark Gurman highlighted this challenge in his recent “Power On” newsletter, pointing out the need for a successor once Cook steps down. “That means Apple faces a broader succession challenge than just finding a replacement for Cook. Many of its top leaders could step down around the same time,” he said. The Apple specialist referred to his earlier reporting about Apple’s hardware engineering chief John Ternus potentially taking over from Cook. “He’s become an increasingly public face of ... .. read more..
Global equity funds attract big inflows as rate cut bets rise
Sunday, May 12,2024,13:00
Demand for global equity funds rose sharply in the seven days to May 8, driven by renewed bets on Federal Reserve interest rate cuts after a softer than anticipated U.S. employment report. Investors bought a net $12.72 billion worth of global equity funds during the week, the largest weekly net purchase since March 20, data ... .. read more..
Asia week ahead: Growth from Japan and inflation reports from China and India
Sunday, May 12,2024,13:00
India’s inflation to inch higher? April inflation may creep higher again after the slight decline in March on lower gasoline prices, and could touch 5.0% year-on-year again. This is still below the upper limit of the Reserve Bank of India’s inflation tagret (6%) and reflects a mix of seasonal food price increases partially offset by ... .. read more..
Bond funds notch biggest weekly inflow since July 2021, BofAsays
Sunday, May 12,2024,13:00
Bond funds saw their largest weekly inflow since July 2021 in the week to Wednesday, Bank of America said on Friday, with investors turning to fixed income markets, as global rate cuts come into view. Bonds funds took in net flows of $17.8 billion, the 20th straight week of inflows. That was driven by a ... .. read more..
The Best States To Launch Your Cannabis Business In 2024 - According To Marij...
Sunday, May 12,2024,12:52
This article was originally published on Cannabis.net and appears here with permission. Have you ever pondered the landscape of cannabis regulations across the United States? Amid a shifting legal terrain where nearly half of the states have embraced recreational cannabis and 38 have legalized medical marijuana , the complexities abound. Despite federal law maintaining cannabis as an illegal substance, each state charts its course with unique rules and regulations. Deciding on the optimal cannabis state involves considering various factors, such as whether the state permits medical, recreational, or both cannabis programs, the presence of non-profit entities, and regulations surroun... .. read more..
Mitch McConnell's Cannabis Gambit: How The Farm Bill Unwittingly Fueled A THC...
Sunday, May 12,2024,12:50
This article was originally published on MG Magazine and appears here with permission. There is no shortage of unintended legislative consequences in the brief history of legal cannabis, but the 2018 Agricultural Improvement Act—popularly known as the Farm Bill —may take the cake. Most notoriously, the bill federally legalized hemp, which the legislation defines as Cannabis sativa L. and “any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers” as long as they contain no more than 0.3 percent tetrahydrocannabinol (THC) by dry weight. All other plants, products, derivatives, e... .. read more..
Amazon, Pfizer, AstroZeneca to pledge billions at ‘Choose France’ summit
Sunday, May 12,2024,10:48
US retail giant Amazon is expected to announce a €1.2-billion ($1.3-billion) investment in France, the French government said Sunday, while pharmaceutical giants Pfizer and AstroZeneca have pledged nearly €1 billion ahead of the annual Choose France summit on foreign investment starting Monday. .. read more..
Tesla CEO Elon Musk Criticizes Biden Administration's Spending Efficiency On ...
Sunday, May 12,2024,09:33
Tesla Inc CEO Elon Musk , on Friday, criticized the Biden administration’s spending efficiency, after reports that the government’s $7.5 billion capital allocation to help build EV charging stations across the country resulted in only seven operational ones as of March. What Happened: The Washington Post, in March, reported that only seven EV charging stations are operational across four states despite the administration allocating $7.5 billion to help build 500,000 EV charging stations in the country by 2030 more than two years ago. In November 2021, Biden signed the Bipartisan Infrastructure Law. The law included $7.5 billion in EV charging infrastructure, of which $5 billio... .. read more..
Stanford's Apple Vision Pro Challenger AR Glasses, AI's Economic Impact And M...
Sunday, May 12,2024,09:00
The week has been a whirlwind of tech news, with major developments in augmented reality (AR), artificial intelligence (AI), and stock market trends. From Stanford’s groundbreaking AR glasses to Palantir’s impressive earnings report, let’s dive into the top stories of the week. Stanford’s Slimmer AR Glasses Researchers at Stanford University have made waves in the world of AR with their new prototype glasses. These glasses, unlike the bulky Apple Inc.’s (NASDAQ: AAPL ) Vision Pro, are slim and light, resembling an everyday pair of glasses. The team has developed an AI-assisted holographic imaging technology that projects realistic, full-color, moving 3D image... .. read more..
Apple's Week Of Breakneck Developments: Chart-Topper iPhone, New iPads And El...
Sunday, May 12,2024,05:18
It’s been a whirlwind week for Apple Inc. (NASDAQ: AAPL ), with significant developments ranging from record-breaking iPhone sales to the launch of new iPad models. The tech giant has been making headlines, and even Elon Musk has chimed in on the action. Let’s dive into the week’s top stories. Record April Revenue for iPhone Manufacturer Apple’s largest iPhone manufacturer, Hon Hai Precision Industry Co. (OTC: HNHPF ), also known as Foxconn, reported its highest-ever April revenue. The Taiwanese company, responsible for manufacturing the majority of Apple’s smartphones, saw a 19% surge in monthly revenue to $15.8 billion in April, a record high for the month.... .. read more..
Amid Nvidia Craze, Jim Cramer Sees A Chip Stock 'Not On Anyone's Radar' About...
Saturday, May 11,2024,17:40
Jim Cramer , in his latest CNBC Investing Club “Morning Meeting” livestream, highlighted a chip stock that is poised for a significant upturn. What Happened : On Friday, Cramer, the host of CNBC’s “Mad Money,” noted that despite the market’s overbought status, there are still opportunities for investors to capitalize on. Chip stocks, which had a down day on Thursday, saw a broad increase in the final session of the week. This was largely due to the robust April sales figures of Taiwan Semiconductor Manufacturing Co. (NYSE: TSM ), a major chipmaker, reported CNBC. The company’s monthly business update indicated a sustained demand for artificial int... .. read more..
NHL's Coyotes CEO, other Latino executives launch platform to promote Hispani...
Saturday, May 11,2024,17:35
A group of Latino executives are starting an organization to promote Hispanic advancement within the sports industry. .. read more..
Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wa...
Saturday, May 11,2024,16:51
Rivian, Lucid and Nikola this week each detailed plans to reduce costs while attempting to grow operations and make their first profits. .. read more..
EXCLUSIVE: Max Fu's Nyan Heroes: Pioneering the Next Frontier in Web3 Gaming
Saturday, May 11,2024,15:35
Max Fu , the visionary CEO behind 9 Lives Interactive , is redefining the landscape of web3 gaming with his groundbreaking title, Nyan Heroes . In a recent interview, Fu shared insights into the game’s ambitious vision and its remarkable journey in the gaming industry. Shaping the Future with Nyan Heroes Nyan Heroes, a team-based hero shooter, features small cats piloting giant mechs. The game combines traditional gaming elements with the innovative use of blockchain technology, aiming to create a unique and engaging experience for players. Fu's vision is clear: “We want to establish ourselves as one of the flagship games in Web3, specifically for the high-end, mid-co... .. read more..
Canadian Solar Q1 Earnings Beat, Revenues Fall Y/Y
Saturday, May 11,2024,15:18
Canadian Solar, Inc. (NASDAQ: CSIQ ) reported first-quarter 2024 earnings of 19 cents per share, which surpassed the Zacks Consensus Estimate of a loss of 34 cents. However, the bottom line declined 84% from the first-quarter 2023 reported figure of $1.19 per share. Revenues Canadian Solar reported revenues of $1.33 billion in the first quarter, which surpassed the Zacks Consensus Estimate by 4.2%. However, the top line declined 21.9% from the year-ago quarter's figure of $1.70 billion. This decrease was primarily due to a decline in the average selling price for CSIQ's modules. Canadian Solar Inc. Price, Consensus and EPS Surprise Canadian Solar Inc. price-consensus-eps-surprise-... .. read more..
More EBITDA Losses at Uber Freight but Ron Touts Brokerage-TMS Integration
Saturday, May 11,2024,15:18
The EBITDA losses keep piling up quarter after quarter at Uber Freight, but President Lior Ron offered nothing but optimism in an earnings preview interview, saying the integration between the legacy digital brokerage with Transplace is mostly complete and its future is looking up. Uber (NYSE: UBER ) Freight's earnings before interest, taxes, depreciation and amortization for the first quarter, released Wednesday as part of the parent company's earnings report, showed a loss of $21 million. That is $2 million better than the first quarter of 2023 but worse than every other quarter of 2023 as well as the fourth quarter of 2022. In 2022's third quarter, Uber Freight posted po... .. read more..
Unraveling the Mystery of Electric Trucks' Residual Values
Saturday, May 11,2024,15:18
The regulation-driven purchase of commercial electric trucks carry a lot of unknowns. One of the biggest is their residual value, or how much they will be worth as trade-ins. Rich Mohr, senior vice president of North America ChargePoint, said the past is a prelude for what is happening with first-generation electric trucks. Depreciating electric trucks to scrap value "Three years ago, the biggest risk around fleets adopting electric vehicles was the residual value and the [anticipated] life of those vehicles" Mohr told me. "Every single fleet [was] depreciating these things down to nothing because we have no clue what they're going to be worth." Determining the residual value of elec... .. read more..
Canoo to Report Q1 Earnings: What's in the Cards?
Saturday, May 11,2024,15:18
Canoo Inc. (NASDAQ: GOEV ) is scheduled to release first-quarter 2024 results on May 14, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter's loss per share and revenues is pegged at 86 cents and $1.45 million, respectively. The consensus mark for Canoo's first-quarter loss per share has narrowed by $1.21 in the past 60 days. The electric vehicle maker's bottom-line estimates imply growth of 78.01% from the year-ago reported figure. In the last reported quarter, it posted a net loss of $1.73 per share, narrower than the Zacks Consensus Estimate of a loss of $1.78 and the year-ago loss of $5.98. Earnings Whispers Our proven model does not c... .. read more..
Peloton: Flexport Wrongly Charged Millions in Detention, Demurrage Fees
Saturday, May 11,2024,15:18
Peloton (NASDAQ: PTON ) has filed a Federal Maritime Commission complaint against Flexport, alleging that Flexport's practices cost the fitness company millions of dollars in unreasonable charges. The complaint, filed this month, accuses digital freight forwarder Flexport of "wrongfully and unreasonably requiring Peloton to pay millions of dollars in unreasonable demurrage and detention charges." Peloton used the company to handle its global logistics. San Francisco-based Flexport transported Peloton containers between foreign and U.S. ports and to locations across the country. With the "store door shipments" also referred to as "carrier haulage" Flexport was responsible for arrangi... .. read more..
Uniswap Frontend is Feeling the Pressure Since Fee Hike
Saturday, May 11,2024,15:18
In mid-April, Uniswap Labs (CRYPTO: UNI ) increased the fee to swap on its interface from 0.15% to 0.25%. The fee applies to most, but not all, swaps that are executed ... Full story available on Benzinga.com .. read more..
Progress Continues at CA Gold Co.'s Properties
Saturday, May 11,2024,15:18
Source: Ben Pirie 05/08/2024 Lake Victoria Gold Ltd. shared an update on its Imwelo and Tembo properties, showcasing the company's ongoing progress of both projects, according to a note from Atrium Research. Lake Victoria Gold Ltd. (OTC:LVGLF) provided an update on its Imwelo and Tembo properties on May 8, 2024, highlighting the continued progress of both projects. Atrium Research analysts Ben Pirie and Nicholas Cortellucci, in a research flash published the same day, maintained their Buy rating and target price of CA$0.45 per share on the company, representing a potential upside of 150%. "Progress at the Imwelo Project is continuing with the final step before the official transf... .. read more..
Eclipse CEO Steps Back Amid Harassment Allegations
Saturday, May 11,2024,15:18
Eclipse CEO Neel Somani said Thursday he is stepping back from the Layer 2 project shortly after a flurry ... Full story available on Benzinga.com .. read more..
Synaptics Q3 Earnings and Revenues Beat Estimates
Saturday, May 11,2024,15:18
Synaptics (NASDAQ: SYNA ) came out with quarterly earnings of $0.53 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $1.89 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6%. A quarter ago, it was expected that this maker of touch-screen technology would post earnings of $0.46 per share when it actually produced earnings of $0.57, delivering a surprise of 23.91%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Synaptics, which belongs to the Zacks Electronics - Semiconductors industry, posted revenues of $237.3 millio... .. read more..
Fathom Holdings Reports Q1 Loss, Lags Revenue Estimates
Saturday, May 11,2024,15:18
Fathom Holdings (NASDAQ: FTHM ) came out with a quarterly loss of $0.31 per share versus the Zacks Consensus Estimate of a loss of $0.24. This compares to loss of $0.36 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -29.17%. A quarter ago, it was expected that this company would post a loss of $0.32 per share when it actually produced a loss of $0.50, delivering a surprise of -56.25%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Fathom Holdings, which belongs to the Zacks Technology Services industry, posted revenues of $70.5 million for the quarter ended M... .. read more..
Microvast Holdings, Inc. Reports Q1 Loss, Tops Revenue Estimates
Saturday, May 11,2024,15:18
Microvast Holdings, Inc. (NASDAQ: MVST ) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.04 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 20%. A quarter ago, it was expected that this company would post a loss of $0.03 per share when it actually produced a loss of $0.04, delivering a surprise of -33.33%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Microvast, which belongs to the Zacks Technology Services industry, posted revenues of $81.35 million for the quarter ended Marc... .. read more..
Wheaton Precious Metals Q1 Earnings: Taking a Look at Key Metrics Versus Esti...
Saturday, May 11,2024,15:17
For the quarter ended March 2024, Wheaton Precious Metals Corp. (NYSE: WPM ) reported revenue of $296.81 million, up 38.4% over the same period last year. EPS came in at $0.36, compared to $0.23 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $284.64 million, representing a surprise of +4.28%. The company delivered an EPS surprise of +24.14%, with the consensus EPS estimate being $0.29. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. As these metrics influ... .. read more..
Legacy Housing Tops Q1 Earnings and Revenue Estimates
Saturday, May 11,2024,15:17
Legacy Housing (NASDAQ: LEGH ) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.65 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this mobile home manufacturing company would post earnings of $0.77 per share when it actually produced earnings of $0.28, delivering a surprise of -63.64%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Legacy Housing, which belongs to the Zacks Real Estate - Operations industry, posted revenues of $4... .. read more..
Donald Trump Reacts To Barron Trump's Role In RNC, Misstates Son's Age In Pro...
Saturday, May 11,2024,14:51
In an interview aired this week, former President Donald Trump mistakenly stated that the age of his youngest son, Barron Trump , was 17, though Barron turned 18 in March. Donald Trump’s error occurred when he reacted to his son’s involvement as a delegate from Florida for the Republican National Convention, reported NBC News. “He’s pretty young, I will say. He’s 17,” Donald Trump said in an interview with Telemundo 51 of ... Full story available on Benzinga.com .. read more..
McDonald's is considering a $5 meal deal. Here's what you'd get.
Saturday, May 11,2024,13:08
The $5 meal could include a choice of a McChicken, a McDouble or four-piece chicken nuggets along with fries and a drink. .. read more..
Nike announces signature shoe for WNBA star A'ja Wilson
Saturday, May 11,2024,12:30
A'ja Wilson, of the Las Vegas Aces, has joined a roster of women athletes who have partnered with Nike to develop signature collections. .. read more..
Robinhood CEO Vlad Tenev Dishes On Hot Retirement Offerings: 'Economics Of Th...
Saturday, May 11,2024,12:23
In an interview with Yahoo Finance on Friday, Robinhood Markets, Inc.’s (NASDAQ: HOOD ) CEO Vlad Tenev spilled the beans on its retirement offerings, which target users of every age, including the ever-elusive Gen Z. The CEO underscored how Robinhood’s offerings are a magnet for novice investors, with Tenev shining a spotlight on a groundbreaking survey revealing Gen Z’s astonishing foresight as Gen Zers begin pondering retirement as early as 19 years old, Tenev told Yahoo Finance’s Market Domination. Tenev also emphasized Robinhood’s retirement profile for individuals within five years of retirement age, stating that “the economics of the offer ar... .. read more..
Contradictory Moves In Global Cannabis Legalization: Thailand, Morocco And Pa...
Saturday, May 11,2024,11:41
In a week full of international cannabis policy updates, Thailand, Morocco and Pakistan have made strides, each presenting divergent paths when it comes to regulating the plant. Thailand’s Prohibition Stance Thailand , known for its progressive stance on cannabis in recent years, has taken a surprising turn by moving towards tightening regulations. The Kingdom, once celebrated for its progressive steps towards cannabis decriminalization and medicinal legalization, is now tightening its grip on cannabis-related activities. Conservative Prime Minister Srettha Thavisin said on Wednesday that cannabis would be re-listed as a Category 5 narcotic, subject to strict controls akin to heroin... .. read more..
Joe Biden Mocks Donald Trump's Advice To Inject Bleach: 'I Wish He Had Done A...
Saturday, May 11,2024,11:37
U.S. President Joe Biden jokingly remarked on Friday that he wished former President Donald Trump had administered a bit of bleach to himself, reviving one of Trump’s more perplexing moments from the early stages of the coronavirus pandemic. Biden, speaking at a fundraising event near San Francisco for his re-election bid, described his Republican opponent’s presidency as tumultuous, urging voters to remember this as they approach the ... Full story available on Benzinga.com .. read more..
Is It Safe To Breastfeed After Consuming Marijuana? New Research Explores THC...
Saturday, May 11,2024,11:32
Many women who breastfeed choose cannabis over other medications to manage conditions like anxiety and chronic pain. A recent study conducted by Washington State University uncovered that THC, the psychoactive component of cannabis, persists in breast milk without a predictable peak concentration time. The study revealed that THC levels in breast milk do not follow a clear pattern like alcohol, which typically peaks and then diminishes. Study Methodology And Findings The research, led by Prof. Courtney Meehan , a biological anthropologist at WSU, analyzed milk samples from 20 breastfeeding mothers who regularly used cannabis. Participants provided samples in their hom... .. read more..
Tesla CEO Elon Musk Draws Parallel Between Netflix's Decision To Focus On Str...
Saturday, May 11,2024,11:24
Tesla Inc (NASDAQ: TSLA ) CEO Elon Musk on Friday drew a parallel between video streaming platform Netflix doubling down on streaming over DVD renting in 2011 to the EV maker doubling efforts on vehicle autonomy. What Happened: In 2011, Netflix attempted to split its DVD rental business from its online streaming into a separate website called Qwikster. The plan, however, was eventually scrapped owing to consumer and shareholder protests. However, streaming has now indeed taken over DVDs, an X user noted in a post on Friday. “Now, apply this logic to Tesla,” Musk wrote to the user, drawing a parallel between Netflix’s 13-year-old decision to focus on streaming ... Full st... .. read more..
Planet 13 Wraps Up VidaCann Acquisition To Enter Florida Market With $63.4M D...
Saturday, May 11,2024,11:07
Las Vegas-based cannabis giant, Planet 13 Holdings Inc. (OTC: PLNH ), has successfully concluded its acquisition of Florida’s VidaCann , a prominent player in the state’s medical marijuana market. The acquisition received approval from the Florida Office of Medical Marijuana Use in April. This represents a significant expansion as recreational cannabis legalization in Florida will be decided in the November 2024 ballot. Strategic Deal Structure As part of the deal , according to a press release shared with Benzinga, Planet 13 will acquire VidaCann from its previous owners in exchange for 81,872,252 shares of Planet 13’s common stock, approximately $4 million in ... Full ... .. read more..
JPMorgan Reports $760K Spot Bitcoin ETF Holdings Even As CEO Jamie Dimon Call...
Saturday, May 11,2024,10:57
The largest bank in the United States, JPMorgan Chase & Co. (NYSE: JPM ), has disclosed a significant investment in Bitcoin (CRYPTO: BTC ) exchange-traded funds (ETFs) despite its CEO Jamie Dimon's persistent criticism of cryptocurrencies. What Happened : JPMorgan has invested approximately $760,000 in spot Bitcoin ETFs on behalf of its clients, according to recent filing with the Securities and Exchange Commission (SEC). The bank’s holdings are spread across several ETFs, including BlackRock’s iShares Bitcoin Trust (IBIT), the ProShares Bitcoin Strategy ETF (BITO), Fidelity’s Wise Origin Bitcoin Fund (FBTC), the Grayscale Bitcoin Trust (GBTC) ... Full story ava... .. read more..
High Arctic Announces Reorganization to Create Two Energy Services Companies,...
Saturday, May 11,2024,10:11
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, May 11, 2024 (GLOBE NEWSWIRE) -- High Arctic Energy Services Inc. (TSX: HWO ) ("High Arctic" or the "Corporation") is pleased to announce that its Board of Directors ("Board") has unanimously approved the reorganization of High Arctic to separate the Corporation's North American and Papua New Guinea ("PNG") businesses, by way of a court-approved plan of arrangement (the "Arrangement"), as well as a distribution of surplus cash to shareholders by way of a ... .. read more..
Sundar Pichai Finally Responds To Microsoft CEO's Comments About Making Googl...
Saturday, May 11,2024,09:52
In an interview earlier this week, Alphabet Inc.’s (NASDAQ: GOOG ) (NASDAQ: GOOGL ) Sundar Pichai responded to Microsoft Corporation (NASDAQ: MSFT ) CEO Satya Nadella ‘s comments about making Google “dance” after the introduction of new Bing . What Happened : On Wednesday, in an interview with Bloomberg, Pichai dismissed Nadella’s remarks about the “new Bing” and the need for Google to “dance” to its tune. “One of the ways you can do the wrong thing is by listening to noise out there and playing to someone else’s dance music,” he said. Microsoft announced its “New Bing,” powered by OpenAI’s Cha... .. read more..
Benzinga Bulls And Bears: Nvidia, Starbucks, Palantir And Crypto Investor's P...
Saturday, May 11,2024,09:25
Benzinga examined the prospects for many investors’ favorite stocks over the last week — here’s a look at some of our top stories. The major stock indexes finished the week in the green . The Dow climbed 2.16%, its best showing since December and its fourth consecutive week of gains. The S&P 500 and the Nasdaq Composite also continued their positive runs, increasing by 1.85% and 1.14%, respectively, marking three weeks of successive gains. In other news, the preliminary May consumer sentiment index from the University of Michigan scored 67.4, significantly under the expected 76 and the lowest it has been in roughly six months. Looking ahead, attention is shifting to the Ap... .. read more..
Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer sl...
Saturday, May 11,2024,07:00
Chipotle Mexican Grill, Wingstop and Sweetgreen all beat Wall Street's estimates for their quarterly same-store sales growth. .. read more..
China Likely To Retaliate Against US Tariffs On Electric Vehicles, Says Top A...
Saturday, May 11,2024,05:20
Wedbush analyst Dan Ives is of the opinion that China would retaliate if the U.S. were to increase tariffs on electric vehicle imports from China. What Happened: “Retaliatory definitely could happen. This Game of Thrones continues to play out,” Ives said in an interview with Bloomberg . As per an exclusive report from The Wall Street Journal , the Biden administration is planning to raise the tariffs on China’s EVs from 25% to around 100%, with an additional 2.5% duty on all imported cars into the U.S. Low-cost ... Full story available on Benzinga.com .. read more..
OpenAI Top Exec Says It's Too Early To Gauge AI's Full Economic Impact: 'We'v...
Saturday, May 11,2024,03:25
OpenAI COO Brad Lightcap on Thursday said that it is still premature to assess the complete economic impact of artificial intelligence. What Happened : Speaking at Bloomberg’s Tech Summit , Lightcap said that the rise of generative AI has not yet significantly transformed the economy. However, he and other AI leaders anticipate more substantial changes in the future. Despite the initial excitement surrounding AI’s potential to revolutionize productivity and create new jobs, the actual impact has been more subtle. While there have been some AI-driven layoffs, entire professions have not been replaced or created. It remains unclear how much additional work AI h... .. read more..
Tired Of Swiping Left And Right? Bumble Founder Says AI Could Do It For You: ...
Saturday, May 11,2024,02:17
Whitney Wolfe Herd , the founder of Bumble Inc. (NASDAQ: BMBL ), has suggested that artificial intelligence (AI) could revolutionize the online dating industry . What Happened : Herd discussed the potential of AI in modern dating at the Bloomberg Technology Summit. She proposed the idea of an “AI dating concierge” that could help users navigate their insecurities and even go on dates on their behalf. Herd believes that AI could alleviate the pressure on human users and foster healthy relationships. She also suggested that AI could teach users how to flirt, potentially addressing the issue of the average U.S. single not dating due to a lack ... Full story available on Benzinga.com .. read more..
Tesla Analyst Sees Annual Shareholder Meeting As Key To Determining Elon Musk...
Saturday, May 11,2024,02:09
Morgan Stanley analyst Adam Jonas sees Tesla Inc ‘s (NASDAQ: TSLA ) upcoming shareholder vote driving material volatility in the stock and determining the company’s long-term strategic direction as company CEO Elon Musk ‘s pay package hangs in limbo. Analyst Recommendation: For the upcoming shareholder meeting scheduled for June, Tesla shareholders will vote again on Musk’s 2018 pay package which was rescinded by a Delaware court earlier this year after deeming it an “unfathomable sum.” The package was worth $56 billion at the time of award. The outcome of the vote on the package will be key to determining if the CEO gets a 25% voting ... Fu... .. read more..
Chinese Tesla Rival Zeekr Soars 35% On NYSE Debut, Valuation Hits $6.8B
Saturday, May 11,2024,00:21
New York-listed shares of ZEEKR Intelligent Technology Holding Limited (NYSE: ZK ) closed nearly 35% higher than its initial public offering price on its first day of trading on Friday. What Happened: ZEEKR, the global electric mobility technology brand of Chinese automaker Geely Automobile Holding (OTC: GELYY ), had priced its U.S. initial public offering (IPO) of 21 million American Depositary Shares (ADS) at $21 per share. The shares of Tesla Inc’s Chinese rival closed at $28.26 on Friday after opening at $26, giving the company a fully diluted valuation of $6.8 billion. "There are huge demands ... Full story available on Benzinga.com .. read more..
Elon Musk Slams Australian Government For Saying 'Social License' Is Required...
Friday, May 10,2024,23:12
Elon Musk hit back at the Australian Prime Minister Anthony Albanese after he talked about the need for a "social license" as his government intensified scrutiny of social media platforms. What Happened: Musk, the single largest shareholder of X , formerly Twitter , slammed the Australian government, implying that a "social license" would amount to "suppressing" the rights of Australians. His response was in reaction to the Australian government’s criticism of social media platforms for not promptly removing violent posts. The government is seeking more oversight over content posted on Meta’s Facebook, TikTok, and Musk’s X. Subscribe to the Benzinga Tech Trends new... .. read more..
OpenAI's Sam Altman Shoots Down Search Engine And GPT-5 Rumors, Teases May 13...
Friday, May 10,2024,23:08
Sam Altman , the CEO of OpenAI , shot down rumors that the AI startup is developing a search engine or launching GPT-5. Instead, he confirmed that a May 13 event is scheduled to talk about "some new stuff" the company is working on. What Happened: Altman took to X , formerly Twitter , on Friday to downplay rumors of OpenAI launching a search engine to take on Alphabet Inc.'s Google . "Not GPT-5, not a search engine, but we've been hard at work on some new stuff we think people will love! Feels like magic to me.” Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. He ... Full story available on Benzin... .. read more..
Elon Musk Says 'Tesla Was The Only Car Company Attacked' After 16 Protesters ...
Friday, May 10,2024,22:41
Protestors against Tesla Inc ‘s (NASDAQ: TSLA ) expansion efforts at its gigafactory in Berlin on Friday attempted to storm the company’s factory , damaged several of the company’s EVs, and even injured several police officers. What Happened: According to the protest organizing group Disrupt Tesla , about 800 people took part in the protests on Friday. The protestors are against the expansion of the company’s facilities, which they deem to be harmful to the environment. The EV giant is aiming to double the plant's capacity for battery production to 100-gigawatt hours and car production to 1 million units annually. “Tesla stands for labor accidents, water... .. read more..