Tag: Stock

Baidu Stock Jumps 2% after Better-than-Expected Revenue News

Baidu is setting the pace in the AI scene for other tech giants in China. Chinese internet giant Baidu Inc (HKG: 9888) has seen a major uptick in its share price today following the release of better-than-expected revenue. Baidu impressed its investors as one of the top tech giants that saw a major uptick in profitability following the reopening of the Chinese economy after year-long Covid-19 restrictions. According to the data shared by the company, it said it recorded a 31.1 billion yuan ($4.5 billion) revenue for the three months…

Soluna stock rises after Navitas makes $14m investment

Crypto mining data center Soluna Holdings (SLNH) shares experienced a significant 12.25% increase on May 15 as it announced a $14 million funding agreement with Navitas Global, which is earmarked for the completion of Project Dorothy 1B in Texas. This infusion of funds not only supports the development of the project but also may signal a resurgence of cryptocurrency mining. A comprehensive deal According to Google Finance, in the last 24 hours, the price of Soluna Holdings’ shares increased from $0.20 to $0.23. Soluna Holdings 5 Day Price Chart |…

Crypto Mining Data Center Soluna Stock Surges After $14M Investment Deal

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Icahn Enterprises (IEP) Stock Falls 15% amid New Regulatory Probe

The whole saga has led IEP stock lower with prices dropping 15.14% to $32.22 at the close of trading on Wednesday. The woes for Carl Icahn’s Icahn Enterprises LP (NASDAQ: IEP) are far from being over amid new revelations that the US attorney’s office for the Southern District of New York is digging deep and has opened a probe into the company. As reported by CNBC citing the company’s latest disclosures, the Attorney’s office reached out to the company last Wednesday as it sought information into every aspect of the…

Disney Releases Fiscal Q2 2023 Earnings Report, DIS Stock Down 5% in Pre-market

The recent earnings report is the second one since Iger became the CEO again in November 2022. The Walt Disney Company (NYSE: DIS) posted revenue and profit in line with analysts’ expectations for its fiscal Q2 2023. The company, which released its second quarter and six months’ earnings for fiscal 2023, said its quarterly revenue grew 13% to $21.82 billion. Meanwhile, analysts expected $21.78 billion. Revenue also jumped 20% in the six months. Walt Disney added that diluted earnings per share from continuing operations increased from $0.26 in fiscal Q2…

Stock Futures Slump as US Inflation Remains Pegged at 4.9%

Despite the fall off of the US stock futures, there is no doubt that the fight against inflation is yielding a relatively positive fruit in the United States. The US stock futures are seeing a very concerning slump today following the release of the latest inflation figure for the month of April. According to the data from the Bureau of Labor Statistics (BLS), the Consumer Price Index (CPI) for the month of April increased by 0.4% when seasonally adjusted, and by 4.9% over the last 12 months when not seasonally…

Coinbase Stock (COIN) Jumps 16% Post-Earnings; Analysts Praise Results but Worry About Regulatory Uncertainty

“Overall, we were pleased with the result and would characterize the near-term financial outlook as a modest positive to expectations,” Devin Ryan, JMP Securities financial technology research director, wrote in a note to investors. “Given the continuation of a challenging environment, coupled with all the regulatory headlines, it was nice to see a relatively clean quarter with respectable results, all things considered.” Source

PacWest Bancorp Mulls Sale of Entire Holding Company amid 80% Stock Drawdown since March

Los Angeles-based PacWest is considering several strategic options, including a sale, amid a banking crisis-induced stock plunge. Bank holding company PacWest Bancorp is reportedly mulling a sale following Wednesday’s 50% stock crash. The regional bank is weighing strategic options amid the US banking crisis, which sank three financial institutions in March. A Bloomberg report said PacWest shelved previous efforts to raise capital to remain afloat and now strongly considers selling all its assets outright. Inside sources revealed that PacWest has been working with a financial adviser on moving forward. These sources…

Qualcomm Reports 17% Phone Chip Sales Fall in Q2 2023, QCOM Stock Tanks by 6% in Pre-market

The company explained a 17-per cent drop in revenue by a tough macroeconomic environment and a “broad downturn” in the semiconductor sector. Semiconductors and wireless telecommunications products manufacturer Qualcomm Incorporated (NASDAQ: QCOM) has reported its earning for the second quarter (Q2) of 2023. Qualcomm has beaten analysts’ revenue forecasts, with $9.27 billion versus Wall Street’s estimate of $9.1 billion. However, with a better-than-expected revenue, the company has seen a 17-per cent drop from last year’s mark in phone chip sales, which is its key business unit. Besides, it missed EPS estimates,…

US Stock Indices Plummet as Fed Raises Interest Rate for 10th Time

The US stock indices notably derailed from the recent growth path it has charted in recent times following the rate hike news. The US stock market and its associated indices took a major plunge at the close of trading on Wednesday as the Federal Reserve’s Open Market Committee (FOMC) hiked interest rate by 25 basis points for the 10th time. Though the rate is a mild one, the move shows the drivers of the economy are not willing to back down on the fight against inflation that was pegged at…