By Niket Nishant and Lewis Krauskopf (Reuters) -Shares of New York Community Bancorp closed higher on Wednesday after the lender sought to bolster investor confidence by appointing a new executive chairman and said it could cut exposure to the troubled commercial real estate (CRE) segment. The bank’s shares gained 6.7% on the day, rebounding after…
NEW YORK (Reuters) – Hedge fund manager William Ackman exited his position in Lowe’s after the home improvement retailer earned more than $1 billion in profits for Pershing Square Capital Management’s investors, according to an investor update. “Lowe’s was a highly successful investment for Pershing Square,” Ackman wrote to investors, noting he cashed out after…
By Yuvraj Malik (Reuters) -Uber Technologies forecast quarterly core profit and gross bookings above estimates and reported market-beating results for the holiday quarter on Wednesday, fueled by higher demand in its ride sharing and food delivery businesses. It posted its first annual net profit as a public company as user retention improved, also benefiting from…
By Noel Randewich (Reuters) – Wall Street’s enthusiasm about artificial intelligence has Nvidia on the verge of becoming more valuable than Amazon for the first time in two decades, and the AI chipmaker is not far behind Google-owner Alphabet. A 40% surge in Nvidia so far in 2024 has elevated its market capitalization to $1.715…
