Author: Fernanda T
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Joby Aviation Seeks Australian Certification, Arcadium Lithium Projects Suspended Due to Oversupply, and More
Arcadium Lithium Plc (NYSE:ALTM) – Arcadium Lithium will suspend or delay two of its four expansion projects due to a global oversupply and prolonged lithium price decline. The company revised the project timeline in Argentina and is considering bringing a partner for the Galaxy project in Canada. The changes will reduce capital spending by about…
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Novo Nordisk Adjusts Outlook, Airbnb Drops 16% on Declining U.S. Demand, Lumen Technologies Surges 48% in Premarket
Novo Nordisk (NYSE:NVO) – In the second quarter, Novo Nordisk reported a net profit of DKK 20.05 billion ($2.93 billion), below the forecast of DKK 20.9 billion. The company reduced its operating profit growth projection to 20%-28% for 2024, from 22%-30%. Sales growth forecasts were increased to 22%-28%. Competition in the weight-loss market is intensifying.…
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BTC Surpasses $56K, Core Scientific’s Extended Deal with CoreWeave, Ronin Network Halts After MEV Exploit, and More
Bitcoin surpasses $56,000 in market recovery Bitcoin (COIN:BTCUSD) started at $54,169.74 and rose to $56,496, recovering from Monday’s sell-off. Fernando Pereira, a Bitget analyst, noted that the price remains within a downtrend channel since March. The recent rise is linked to the price being at the support point of this channel, possibly attracting significant buying…
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US Index Futures Rise After Market Sell-off, Oil Prices Trim Losses
US index futures rose in pre-market trading on Tuesday, signaling a recovery after one of the worst days for markets in nearly two years. Earnings season continues, with Palantir (NYSE:PLTR) and Lucid Group (NASDAQ:LCID) showing strong pre-market performances, partially easing the negative sentiment. At 4:37 AM, Dow Jones futures (DOWI:DJI) rose 195 points or 0.50%.…
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Palantir and Lucid Shares Surge After Beating Estimates; ZoomInfo and Chegg Drop 16% – Earnings Update
Palantir Technologies (NYSE:PLTR) – The AI software company reported $678 million in Q2 revenue, up 27% year-over-year, beating the $653 million estimate. Net income was $134 million, or 6 cents per share, compared to 1 cent the previous year. The annual revenue forecast increased to up to $2.75 billion. Shares rose 11.2% pre-market. Lucid Group…
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Google Faces Antitrust Ruling; SunPower Files for Bankruptcy and Business Sale – Latest Business News
SunPower (NASDAQ:SPWR) – SunPower filed for Chapter 11 bankruptcy in the US and sold part of its business to Complete Solaria for $45 million. Complete Solaria will acquire Blue Raven Solar, New Homes segments, and SunPower’s non-installing dealer network. The company listed its assets and liabilities between $1 billion and $10 billion and will continue…
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Crypto Markets Plunge Amid Global Uncertainty, Bitcoin ETF Volume Surges, and Key Updates
Cryptocurrencies plunge amid recession fears and global tensions On Monday, Bitcoin (COIN:BTCUSD) dropped from $57,531.60 to $49,050, partially recovering to $53,799. Over $350 million in long positions were liquidated in two days, the highest value in four months. Ether hit a low of $2,112.00, the largest daily drop since 2021, recovering to $2,416.23. Other cryptocurrencies…
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U.S. Index Futures and Oil Prices Plunge on Recession Concerns
U.S. index futures fell sharply after a volatile week, with the Nasdaq Composite entering correction territory due to recession concerns and uncertainties about Federal Reserve actions. At 04:37 AM, Dow Jones futures (DOWI:DJI) dropped 607 points or 1.52%. S&P 500 futures lost 2.16%, and Nasdaq-100 futures declined 3.40%. The 10-year Treasury yield was at 3.761%.…
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Nvidia AI Chip Delays, Mars Eyes Kellanova Acquisition, Berkshire Hathaway’s Cash Surge to $277 Billion
Nvidia (NASDAQ:NVDA) – According to Reuters, design flaws could delay the launch of Nvidia’s new AI chips by up to three months, affecting customers like Meta, Google, and Microsoft. The Blackwell series, succeeding the Grace Hopper Superchip, faces production issues, impacting orders from these major companies. Shares fell 7% pre-market. Kellanova (NYSE:K) – Mars, the…
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Fed Impact in Crypto Market, California DMV Adopts Avalanche Blockchain, Riot Boosts Bitfarms Stake
Impact of Mt. Gox BTC distribution and Federal Reserve decision on Bitcoin price Bitcoin’s price remained stable after Mt. Gox transferred $2 billion in BTC on Tuesday, nearing the completion of its $9 billion distribution. A total of 47,229 BTC was moved, with 33,105 BTC possibly destined for BitGo, valued at $2.19 billion. This movement…