Despite a challenging second quarter, Advanced Micro Devices (AMD) has surpassed sales and profit expectations, reporting a decline in revenue of 18%. However, the company remains optimistic about its future prospects, with a focus on its data center and embedded divisions. With the increasing demand for high-end graphics processing units (GPUs) used in artificial intelligence
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Meta, formerly known as Facebook, has experienced a remarkable turnaround in its stock performance. After facing existential threats and a nosedive in stock value, Meta reported better-than-expected second-quarter results and issued an optimistic outlook. This positive news propelled Meta shares to their highest point since early 2022. Despite a slight dip, Meta’s stock has climbed
SpaceX recently conducted a “full-pressure test” of its new “flame deflector” system at the Starship Super Heavy launch site in South Texas. While the test indicates progress in Elon Musk’s ambitions for lunar and Mars missions, environmental concerns have been raised regarding the company’s failure to obtain the necessary permits to discharge industrial process wastewater
Intel, the multinational technology company, reported its second-quarter earnings on Thursday, announcing a return to profitability after two consecutive quarters of losses. The company also provided a stronger-than-expected forecast, which delighted investors and led to a 7% increase in Intel shares during extended trading. Financial Performance For the quarter ending on July 1, Intel’s earnings
Joe Lewis, the owner of the Tottenham Hotspur soccer team and a prominent British billionaire, has been charged in the United States for his alleged involvement in an insider trading scheme. The charges were announced by U.S. Attorney Damian Williams of the Southern District of New York. According to Williams, Lewis, who is 86 years
General Motors (GM) is poised to release its second-quarter earnings report on Tuesday, with analysts predicting solid results driven by favorable trends in the automotive industry. Refinitiv consensus estimates suggest that GM will report adjusted earnings per share of $1.85 and revenue of $42.64 billion, reflecting significant year-over-year increases of approximately 62% and 19% respectively.
Federal Trade Commission Chair Lina Khan recently defended her progressive stance on antitrust enforcement during an event, countering the barrage of criticism that the agency has faced from the business community. Khan emphasized that the FTC’s role is not to impose personal philosophical beliefs but rather to adhere to the statutes governing antitrust regulations. She
Chevron, one of the leading oil companies, made an important announcement on Sunday regarding changes in its top management. Chief Financial Officer (CFO) Pierre Breber will be retiring next year. In his place, Eimear Bonner, the Chief Technology Officer of Chevron Technical Center, has been appointed as the successor. Bonner, a long-time company veteran with
The recent string of gains in the market may face a potential setback as traders prepare for a significant Federal Reserve meeting and the start of earnings season. The Dow Jones Industrial Average managed to achieve a 10-day winning streak, thanks to soft inflation reports and the growing excitement surrounding artificial intelligence. However, the market
The Federal Reserve has recently introduced its FedNow instant-payments service, which aims to enhance the flow of cash for businesses and individuals. After several years of development, officials believe that this system will enable faster and more convenient everyday payments, such as immediate access to paychecks, last-minute bill payments, and government payments. Fed Chair Jerome