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Business News

Location American Business News for 2 August 2024
DoorDash loses more than expected in Q2. But shares are rallying, and it plans to keep investing in expansion. DoorDash Inc.'s third-quarter forecast for a key demand metric on Thursday came in above Wall Street's expectations, but the delivery app lost more than expected during the second quarter, as it invests in expanding what...
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Watch out for the semiconductor supercycle before you start buying stocks like Nvidia Nvidia is now one of the world's most valuable companies, but experts told Business Insider that it may not always be on the up and up.
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DraftKings shares slip after revenue miss weighs against surprise profit DraftKing Inc.'s stock retreated 1.4% in after-hours trading Thursday, after the company swung to an unexpected second-quarter profit but revenue fell slightly short of estimates.
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Japanese stocks fall sharply as yen strengthens

Market Watch - 2 Aug 2024 03:17
Japanese stocks fell sharply as the yen strengthened following the Bank of Japan's rate increase this week and as signs of cooling U.S. economy hit shares on Wall Street overnight,
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MicroStrategy's Q2 earnings reveals Bitcoin stockpile now $14.7B MicroStrategy shares jumped just 1% in after-hours trading, with the company posting a net loss of $123 million in the second quarter.
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It's time for Nvidia to replace Intel in the Dow

Market Watch - 2 Aug 2024 02:28
It's time for Nvidia to replace Intel in the Dow After Intel Corp.'s disastrous news on Thursday, it is time for the once great semiconductor company to be replaced in the Dow Jones Industrial Average by the real leader in the sector, Nvidia Corp.
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With Amazon Web Services humming and management identifying more ways to lower costs, Amazon's profitability story is still intact.
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Intel cuts whopping 15K jobs, posts $1.6B loss just months after getting Biden funds Chipmaker Intel Corp. is cutting 15% of its massive workforce -- about 15,000 jobs -- as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.
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The results come as the Chevron-Hess deal is delayed until well into 2025 due to an arbitration case with ExxonMobil.
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The Bank of England cut rates but raised growth forecasts. What this means for U.K. assets. When the Bank of England on Thursday trimmed interest rates for the first time in more than four years, it was doing something unusual: easing monetary policy while also raising its growth forecasts for the U.K. economy.
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Auto sales in the U.S. rebound after crippling cyberattack ales of new cars and trucks in the U.S. rebounded in July after auto dealers fixed their computer systems following a major cyberattack and were able to completed thousands of delayed purchases.
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Tesla's unique approach to sales is giving it headaches

Business Insider - 2 Aug 2024 14:04
Tesla's unique approach to sales is giving it headaches Tesla's sales conundrum represents a common mistake tech companies make: pushing for innovation in unwanted places.
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Government shelves £1.3bn UK tech and AI plans The BBC has learned the new Labour government has shelved £1.3bn of funding for tech and AI projects.
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'Inside Out 2' success is AMC's saving grace in Q2, stock rises 1% AMC reported a quarterly loss in line with forecasts, saying it saw a boost from Disney's "Inside Out 2."
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Simone Biles says she loves her 'Black job.' It's an apparent dig at Donald Trump. The Olympic gold medalist appeared to respond to contentious remarks by the former president and current Republican presidential nominee about the threat to "Black jobs."
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Agency Votes to Replace Official Accused of Rushing Start of Seabed Mining The international agency charged with regulating seabed mining elected a U.N. environmental regulator to replace a leader accused of too-close industry ties.
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Here are some of the major companies whose stocks moved on the week's news.
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On-Device Proofs Solve DePIN Verification Challenges Zero-knowledge proofs generated on DePIN devices are the best way to provide robust verification for service, performance, and location data while maintaining decentralization and privacy, argue NovaNet cofounders Wyatt ...
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Wall Street's 'fear gauge' surges as selloff sinks stocks Wall Street's "fear gauge" has come roaring back this week after a prolonged stretch of quiescence. Its rise is raising questions about how much longer the summer selloff in stocks might continue.
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The U.S. economy is getting closer to a recession. What is the Fed waiting for? The Fed should cut rates by 0.5% before the Jackson Hole meeting in late August, says Investment manager Louis Navellier.
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DOJ Launches Whistleblower Awards Program to Tackle Crypto Crimes The U.S. Department of Justice (DOJ) has initiated a Corporate Whistleblower Awards Pilot Program to encourage reporting of corporate criminal activities. This three-year program targets financial institutions, including...
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Intel suffers one of its worst days in 40 years as stock plunges 26%, loses $30M in market value after earnings miss The company announced plans to lay off more than 15% of its workforce, with most of the layoffs coming before the end of the year.
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