IBM, the multinational technology company, announced its second-quarter earnings on Wednesday, surpassing analysts’ estimates and experiencing an expansion in its gross margin. Although the company fell short of consensus revenue estimates, shares of IBM remained relatively stable during extended trading following the report. According to Refinitiv, IBM reported adjusted earnings of $2.18 per share, exceeding
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A federal judge has denied the Federal Trade Commission’s (FTC) request for a preliminary injunction to stop Microsoft from finalizing its acquisition of Activision Blizzard. This decision not only signifies a setback for the FTC, but also challenges FTC Chair Lina Khan’s approach to antitrust enforcement. While the ruling does not guarantee the deal’s approval,
Novavax, a biotech company in Maryland, experienced a significant surge in its stock price, soaring over 30% on Monday. This surge came as a result of Canada agreeing to pay $350 million for Covid vaccine doses that were initially scheduled for delivery but went unused. The settlement forms part of an amended purchase agreement for
Chicago Federal Reserve President, Austan Goolsbee, expressed confidence that inflation can be controlled without the need for a recession, despite the likelihood of further interest rate increases. Goolsbee believes that the ongoing job growth is a key factor in the Fed’s plan to restore price stability while avoiding any negative impact on the economy. He
Recent analysis from Bank of America Securities suggests that OpenAI’s ChatGPT is not poised to challenge Google’s position as the leader in the search engine industry. Sensor Tower data reveals that app downloads for ChatGPT and Microsoft Bing have experienced a slowdown in recent weeks, according to a note by BofA analyst Justin Post. The
The cost of purchasing a car has significantly increased, making it more expensive than ever before. Not only have new vehicle prices reached near all-time highs, but the interest rates for financing a purchase have also skyrocketed. Recent reports indicate that the market for affordable new cars has dwindled significantly. According to car shopping app
United Airlines’ CEO, Scott Kirby, has expressed concerns over the frequent gridlock and operational challenges faced by the airline at its Newark, New Jersey, hub. Kirby emphasized the need for additional gates at Newark Liberty International Airport to prevent schedule changes and reduce delays caused by aircraft backups. This statement comes after a series of
The Aigen Element is transforming the agricultural industry with its innovative autonomous robots. Developed by Aigen, a company founded by Rich Wurden and Kenny Lee, the Element is equipped with advanced computer vision technology and robotic arms to identify crops and eliminate unwanted weeds. This groundbreaking technology aims to reduce the reliance on pesticides and
The scorching heat wave in Texas has brought little relief to residents. Over the course of two consecutive weeks, Del Rio has experienced daily temperatures exceeding 100 degrees Fahrenheit, with the mercury soaring as high as 115 F. Adding to the alarm, nighttime temperatures have also reached record highs, failing to provide any respite. National
A groundbreaking development in the field of medicine has occurred as the first drug fully generated by artificial intelligence (AI) enters clinical trials with human patients. Insilico Medicine, a biotech startup based in Hong Kong that has received over $400 million in funding, has created the drug, INS018_055, as a potential treatment for idiopathic pulmonary