By Medha Singh (Reuters) -Shares of smaller AI firms rallied on Thursday after the world’s most dominant artificial intelligence chipmaker, Nvidia, disclosed stake in them, offering clues on its growth strategy. The rally showed Nvidia’s growing influence in the AI world as its market value grows at a scorching pace, making it the third most-valuable…
By Bianca Flowers and Shivansh Tiwary (Reuters) -Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates. Shares of the world’s largest farm equipment maker were down…
(Reuters) – Canadian miner Nouveau Monde Graphite said on Thursday it has agreed to sign a multi-year supply agreement with a unit of General Motors and would receive $150 million in equity investment from the automaker. Under the agreement, the Canadian firm would provide 18,000 tonnes per annum of refined graphite from the second phase…
By Mike Stone WASHINGTON (Reuters) -U.S. President Joe Biden wants an 18% cut in the number of F-35 jets the Pentagon buys next year after Congress’ cap on the size of the upcoming defense budget compelled the administration to find savings, two sources familiar with the situation said. The Pentagon order for Lockheed Martin’s stealthy…
(Reuters) – Billionaire Nelson Peltz’s Trian Fund Management criticized Walt Disney’s investment plans, calling it a “spaghetti against the wall plan”, in a letter sent to the entertainment and media giant’s shareholders on Monday. The home of Mickey Mouse is in a proxy battle with Peltz who has pushed the company to cut costs, create…
By Samrhitha A (Reuters) -Uber Technologies shot to a record high on Wednesday after announcing its first-ever buyback of $7 billion worth of company shares after a strong recovery in ride-share revenue and healthy demand in its food delivery business. The company posted its first annual net profit last week since it went public in…
LONDON (Reuters) -The total value invested in bitcoin surpassed $1 trillion on Wednesday for the first time since November 2021 as inflows to U.S. spot bitcoin exchange traded funds continued to support prices. Bitcoin’s price reached $51,902 on Wednesday, its latest 25-month high and a rise of 4.7% on the day, taking the token’s market…
By Shivansh Tiwary and Rajesh Kumar Singh (Reuters) -Shares of JetBlue Airways surged on Tuesday after activist investor Carl Icahn said he took a stake of nearly 10% in the low-cost carrier. JetBlue’s shares were up 14.7% in late morning after Icahn said his company had been in discussion with the airline about possible board…
By Johann M Cherian, Ankika Biswas and Carolina Mandl (Reuters) -Wall Street’s main indexes tumbled on Tuesday after a higher-than-expected consumer inflation reading pushed back market expectations of imminent interest rate cuts, driving U.S. Treasury yields higher. The Dow Jones Industrial Average posted its biggest one-day percentage drop in nearly 11 months, after a Labor…
By Niket Nishant (Reuters) -New York Community Bancorp shares fell nearly 4% after inflation data on Tuesday on investor worries that delays to interest-rate cuts could worsen the bank’s woes from its exposure to stressed U.S. commercial real estate (CRE) sector. Consumer price index (CPI) increased 0.3% in January compared to the 0.2% that economists…
