Category: Latest News
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Eaton Shares Climb on NVIDIA Partnership to Power HVDC AI Data Centers
Eaton Corporation PLC (NYSE:ETN) saw its stock rise 2.2% Tuesday following the announcement of a collaboration with NVIDIA Corporation (NASDAQ:NVDA) to enhance high-voltage direct current (HVDC) infrastructure in AI data centers. This partnership aims to meet the growing power and cooling needs driven by increasingly complex AI models and denser hardware configurations. Eaton will provide…
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Quantum Computing Inc. Lands $332,000 Contract from Leading U.S. Bank
Quantum Computing Inc. (NASDAQ:QUBT) revealed it has secured a purchase order worth approximately $332,000 from one of the top five banks in the United States, marking its first commercial sale of quantum cybersecurity technology domestically. The quantum communication system will be integrated into the bank’s Cybersecurity Quantum Optics Lab as part of a testbed designed…
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Citigroup Surpasses Profit Expectations Thanks to Strong Trading and Banking Results
Citigroup (NYSE:C) delivered better-than-anticipated earnings for the second quarter, driven by robust trading income and a resurgence in dealmaking activities. The financial institution reported earnings per share of $1.96, exceeding the consensus analyst forecast of $1.61. Revenue climbed 4% to reach $21.67 billion, topping estimates of $20.94 billion. Market volatility fueled by shifting interest rate…
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AMD Shares Jump as U.S. Clears MI308 Chip Exports to China
Shares of Advanced Micro Devices Inc. (NASDAQ:AMD) climbed 5% in premarket trading Tuesday after the chipmaker received clearance from the U.S. government to resume exports of its MI308 artificial intelligence chips to China, according to a report from Bloomberg. An AMD spokesperson confirmed to Bloomberg that the U.S. Commerce Department notified the company that its…
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Uber Shares Edge Higher After Striking Global Autonomous Vehicle Deal with Baidu
Uber Technologies Inc. (NYSE:UBER) saw its shares rise 1% in premarket trading on Tuesday after revealing a long-term strategic collaboration with Chinese tech heavyweight Baidu Inc. (NASDAQ:BIDU) to bring self-driving taxis to Uber’s platform in select international markets. The partnership will integrate thousands of Baidu’s Apollo Go autonomous vehicles into Uber’s ride-hailing ecosystem across various…
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Longevity Health Shares Skyrocket After All-Stock Merger with THPlasma
Shares of Longevity Health Holdings Inc. (NASDAQ:XAGE) soared 155% on Tuesday after the company announced a definitive agreement to merge with True Health Inc., the operator of THPlasma, in an all-stock deal. The acquisition of THPlasma marks Longevity Health’s latest expansion effort, following its takeovers of Carmell Therapeutics in July 2023 and Elevai Skincare in…
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MP Materials shares jump on report of $500M Apple investment
Shares of MP Materials (NYSE:MP) surged 8% in premarket trading Tuesday after reports emerged that Apple (NASDAQ:AAPL) is preparing to invest $500 million in the U.S.-based rare earths company. The arrangement would see MP Materials supply neodymium magnets—crucial components for many Apple products—from its Fort Worth, Texas facility. In addition, Apple and MP Materials reportedly…
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U.S. Inflation Meets Expectations in June; New York Manufacturing Rebounds Sharply
Consumer price growth in the U.S. aligned with economists’ projections in June, according to data released Tuesday by the Labor Department. The Consumer Price Index (CPI) climbed 0.3% in June, a faster pace than the 0.1% increase recorded in May. On a year-over-year basis, inflation accelerated to 2.7%, up from 2.4% the previous month and…
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Dow Jones, S&P, Nasdaq, Stock Futures Rise as Nvidia Surges, CPI Report Offers No Surprises
U.S. equity futures pointed to early gains on Tuesday, setting the stage for a positive open as investors digested fresh inflation data and a key update from chip giant Nvidia. Nvidia (NASDAQ:NVDA) was a standout in premarket trading, jumping 4.7% after the company revealed it would “soon” resume shipments of its AI-focused H20 chips to…
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ProKidney Shares Dip Following FDA Agreement on Rilparencel Approval Strategy
ProKidney Corp. (NASDAQ:PROK) saw its stock drop 11% in early trading before recovering somewhat to close down 3%, after announcing alignment with the U.S. Food and Drug Administration on the accelerated approval framework for its kidney disease drug, rilparencel. The North Carolina-based biotech confirmed that the FDA accepts the estimated glomerular filtration rate (eGFR) slope…