Topline Tesla CEO Elon Musk reclaimed his throne as the richest man on earth Thursday, wrestling the title away from LVMH chairman Bernard Arnault as shares of Musk’s electric vehicle giant surged to their highest level this year. Elon Musk, right, is significantly richer now than he was at the start of 2023. Getty Images […]
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Noah Berger/AFP/Getty Images Though overall profits have started to decline, revenue growth—and the promise of artificial intelligence—are boosting tech companies’ market value. Despite lingering economic headwinds, higher interest rates threatening profits and widespread layoffs across the industry, technology companies have been largely resilient over the past year—continuing to post record sales and recouping vast […]
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Topline Apple shares hit their highest price in the stock’s 43-year history early Monday ahead of the debut of its mixed reality Vision Pro headset, though the stock then slid after the tech giant announced a far heftier than expected price tag for its biggest product launch in years. Apple shares have risen dramatically during […]
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Topline The tech-heavy Nasdaq hit a 14-month high Friday, largely driven by massive gains from a handful of the widely tracked tech index’s largest companies, while the Dow Jones Industrial Average and S&P 500 each hit key milestones of their own as optimism is aplenty on Wall Street. Bullish investors flooded Wall Street Friday. Getty […]
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Topline Shares of the electric vehicle giant run by the oft-erratic billionaire Elon Musk rallied to their highest price since early this year in Friday trading, as Musk’s net worth, battered badly by his controversial purchase and leadership of Twitter, closes in on once again becoming the largest in the world. Elon Musk, center, has […]
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Peter Thiel (left) and Richard Li. Getty Images/Bloomberg MoneyHero Group, a personal finance comparison company based in the Asian financial hubs of Hong Kong and Singapore, is planning to go public in the U.S. by merging with a blank-check company backed by Hong Kong billionaire Richard Li and PayPal cofounder Peter Thiel. The deal with […]
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Topline Shares of Ford and Tesla rallied Friday after the companies announced Ford electric vehicle owners can now plug in their car in one of Tesla’s 12,000 fast charging stations nationwide, a rare partnership between the legacy automaker and its younger but vastly more valuable peer. A Ford Explorer Hybrid SUV on display at an […]
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Topline The Federal Reserve signaled Wednesday its top decision makers are split over whether to pause its interest rate hike crusade, a crucial decision for the economy as inflation remains stubbornly high. Jerome Powell, center, is amidst a tenuous time as the chief of the U.S.’ central bank. Getty Images Key Facts Central bank officials […]
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Topline Shares of Disney are on pace to notch their largest daily decline in six months Thursday following the release of the firm’s quarterly earnings report, which disappointed investors, as the pixie dust wears off from CEO Bob Iger’s November return once celebrated as nothing short of “magic.” Disney shares had a far from magical […]
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Topline Fox Corporation disclosed an eight-figure loss in its hotly anticipated quarterly earnings release Tuesday morning, revealing just how deep the recent costly wounds from its news division cut, though its CEO tried to convince investors the massive payout was a good thing for the company. Fox CEO Lachlan Murdoch put a positive spin on […]
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Topline Apple topped Wall Street’s expectations for its first quarter financial performance released Thursday afternoon, thanks to its strongest ever sales in its services unit encompassing its iCloud, App Store and credit card business, though pricier loans dragged on its bottom line. Apple CEO Tim Cook holds an iPhone 14 Pro at a September launch […]
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Topline Major stock indexes notched their best day in months Thursday thanks to mid-earnings season optimism fueled by a blockbuster report from Facebook parent Meta—though the gains were once again largely driven by a handful of mega-cap stocks. Tech stocks—and perhaps some corks—popped Thursday. Xinhua News Agency via Getty Images Key Facts The Dow Jones […]
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Topline Meta continued big tech’s earnings hot streak with its strong quarterly report released Wednesday afternoon, sending its shares rallying as its billionaire CEO Mark Zuckerberg’s commitment to trimming costs proves popular among investors. Meta CEO Mark Zuckerberg poses in the nation’s capital in 2019. Getty Images Key Facts Meta reported $28.6 billion in quarterly […]
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Topline Microsoft beat Street’s expectations in its earnings report released Tuesday afternoon, showcasing the early impact of its high-profile commitment to artificial intelligence in its first quarter since bolstering its investment in the firm behind the viral chatbot ChatGPT. Microsoft CEO Satya Nadella in February at Microsoft’s Washington headquarters. The Washington Post via Getty Images […]
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Topline Shares of First Republic sank to their lowest price ever Tuesday after the struggling bank disclosed worse-than-feared deposit outflows—sparking fears in Washington and beyond that it may become the third major bank to fail this year. First Republic’s headaches are far from over. Getty Images Key Facts First Republic’s stock cratered 50% to about […]
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Topline Tesla logged its largest daily stock price drop in more than three months Thursday after reporting quarterly earnings that met analysts’ top and bottom line expectations but amplified Wall Street’s concerns about the Elon Musk-led electric vehicle maker’s ability to deliver on hefty profit expectations. Elon Musk, left, appears at a convention in Miami […]
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Topline Cal-Maine Foods, the nation’s biggest egg producer, experienced a seven-fold year-over-year jump in quarterly profits in the three-month period ending February 25, according to its Tuesday afternoon earnings report, a jarring revelation into how the company cashed in on soaring egg prices. It’s been a profitable time to be in the egg business. getty […]
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Topline Stocks gained yet again Monday as badly bleeding bank stocks bounced back and major indexes continued to recover their March losses. Frowns have subsided on Wall Street in recent days. Getty Images Key Facts The Dow Jones Industrial Average rose 270 points, or 0.9%, in early trading, while S&P 500 and tech-heavy Nasdaq climbed […]
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Topline Deutsche Bank’s stock plunged Friday as the market hones in on the German firm as the next major bank at risk in the wake of long-time rival Credit Suisse’s collapse and similar events stateside. Deutsche Bank’s credit default swap rates soared late Thursday. Getty Images Key Facts Frankfurt-listed shares of Deutsche Bank dropped 11% […]
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Yat Siu, cofounder and chairman of Animoca Brands. Tory Ho/Bloomberg Yat Siu, chairman of Asia’s largest blockchain investor Animoca Brands, thinks volatile cryptocurrencies are a relatively safe investment as the traditional financial world is rocked by the Credit Suisse turmoil and the failure of a string of U.S. banks. “If you take a look what […]
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Topline Major stock indexes plummeted yet again Friday as investors seemed largely skeptical of a government-backed plan for large banks to save the slumping First Republic bank, which many feared was little more than sticking a Band-Aid on a gash and risking spreading the infection to others. There was not a pot of gold in […]
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Baidu CEO Robin Li introduces the functions of Ernie Bot during an event in Beijing on March 16, … [+] 2023. AP Photo/Ng Han Guan Shares of billionaire Robin Li’s Baidu, which tumbled 6.4% on Thursday on disappointment over the launch of its ChatGPT-like service, surged almost 14% Friday as some analysts who tried Ernie […]
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Topline Trading in Credit Suisse shares was halted as they fell as much as 21% on Wednesday, compounding nearly a week of consecutive losses and hitting a new all-time low as the Swiss bank struggles to overcome an array of controversies and a day after it acknowledged “material weaknesses” in its financial reporting. Credit Suisse […]
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Topline Stocks rose broadly Friday on the back of a massive rally from technology titans as investors yet again latched onto hopes that the Federal Reserve’s rate hike campaign will soon conclude, though one economist says the “unprecedented” macroeconomic conditions mean rate optimists shouldn’t be so sure the central bank will relent any time soon. […]
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Topline Subpar profit outlooks from two of the nation’s largest retailers fueled a broad decline in stock prices Tuesday, as investors increasingly heed the calls that this year’s rally may be little more than a mirage. Stocks slid Tuesday after Home Depot and Walmart reported earnings and bond yields rose. Getty Images Key Facts The […]
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Topline World Wrestling Entertainment’s controversial billionaire chairman Vince McMahon has received multiple offers to take the wrestling company private in a deal worth as much as $9 billion, Bloomberg reported Friday, a price tag that one analyst says comes as a mild disappointment. Vince McMahon’s WWE is reportedly actively taking bids. Getty Images Key Facts […]
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This 2022 photo shows a sensor from Hesai on top of a “robotaxi” autonomous vehicle developed by … [+] Baidu Apollo as it drives along a street in Shenzhen in China southern. (Photo by Jade Gao / AFP) (Photo by JADE GAO/AFP via Getty Images) AFP via Getty Images Hesai Group, a supplier of sensors […]
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Huang Ping, the Chinese consul general in New York, rang the opening bell at the Nasdaq on Jan. 25. Courtesy of Nasdaq In 2019, the year before Covid upended global travel and business, the Nasdaq attracted 33 listings from Asia-Pacific companies. All but five were from China, underscoring the country’s heft as the world’s No. […]
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“Eggs are eggs. People want eggs.” New York Times (Feb 3, 2023) PORTLAND, ME – JUNE 9: Becky’s Diner line cook Mike Sajecki cracks an egg onto the flat top, June 9, … [+] 2015. As the nation faces an egg shortage due to widespread avian flu, egg prices are expected to rise. Becky’s, for […]
Read More “Eggs are eggs. People want eggs.” New York Times (Feb 3, 2023) PORTLAND, ME – JUNE 9: Becky’s Diner line cook Mike Sajecki cracks an egg onto the flat top, June 9, … [+] 2015. As the nation faces an egg shortage due to widespread avian flu, egg prices are expected to rise. Becky’s, for […]
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