Category: Latest News
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U.S. Stocks Move Notably Lower Amid Geopolitical Concerns
Stocks moved notably lower during trading on Tuesday, giving back ground following the rebound seen in the previous session. The Nasdaq slid 180.12 points or 0.9 percent to 19,521.09, the S&P 500 (SPI:SP500) decreased 50.39 points or 0.8 percent to 5,982.72 and the Dow fell 299.29 points or 0.7 percent to 42,215.80. The early pullback…
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Tesla to Temporarily Halt Cybertruck and Model Y Production at Austin Plant for One Week
Tesla (NASDAQ:TSLA) is set to pause manufacturing of its Cybertruck and Model Y models at the Austin factory for one week starting June 30, with production expected to resume the following week. According to a recent report from Business Insider, the automaker informed employees during a meeting earlier this month about the planned shutdown. This…
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Chevron Stock Rises on Entry Into U.S. Lithium Market Through Strategic Land Acquisition
Shares of Chevron Corporation (NYSE:CVX) climbed 2% after the energy major revealed its initial foray into the lithium sector with the purchase of roughly 125,000 net acres of mineral-rich land. This marks a significant step in Chevron’s efforts to diversify its energy portfolio amid growing demand for battery materials. The acreage, located across Northeast Texas…
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KLA-Tencor Stock Hits Record High Amid Strong Earnings and Market Optimism
KLA-Tencor Corporation (NASDAQ:KLAC) reached a new all-time high of $896.52 per share, highlighting its powerful momentum in the semiconductor equipment industry. The company now boasts a market valuation of approximately $117.88 billion. Despite the milestone, some analysts have flagged potential overvaluation, citing technical signals that suggest the stock may be in overbought territory. The stock’s…
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Seagate Technology Hits Record High, Driven by Bullish Analyst Sentiment and Solid Growth Outlook
Seagate Technology (NASDAQ:STX) shares surged to a historic high of $132.24, marking a milestone for the data storage leader. With a year-to-date gain of 53%, the company’s market capitalization now approaches $28 billion, underscoring growing investor confidence and favorable market dynamics. Over the last 12 months, Seagate stock has climbed 24.29%, bolstered by a 36%…
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Red Cat Shares Slide After Announcing $46.75M Stock Offering
Shares of Red Cat Holdings Inc. (NASDAQ:RCAT) dropped 18.4% on Monday after the drone technology company revealed plans to raise nearly $47 million through a direct offering of its common stock. According to the announcement, Red Cat has entered into agreements with institutional investors to sell 6,448,276 shares. The transaction, expected to close around June…
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Enphase Energy Shares Slide to 52-Week Low Amid Sector Headwinds
Enphase Energy Inc. (NASDAQ:ENPH) hit a new 52-week low of $36.15, underscoring ongoing weakness in the renewable energy space. The stock, which now carries a market capitalization of approximately $6.03 billion and a beta of 1.7, continues to exhibit elevated volatility. The milestone reflects a sharp downturn for the solar technology company, which has seen…
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iPower Stock Surges on Pivot to Bitcoin and Blockchain Services
Shares of iPower Inc. (NASDAQ:IPW) jumped 9.3% following the company’s announcement of a significant strategic transformation aimed at aligning its business with the fast-growing world of digital assets. The tech-focused eCommerce and supply chain firm revealed that it will begin accumulating Bitcoin as part of a newly adopted treasury strategy. Approved by the board, the…
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JetBlue Shares Drop as CEO Flags More Cost Cuts and Flight Reductions
JetBlue Airways (NASDAQ:JBLU) saw its stock decline by 5% on Tuesday after a leaked internal memo revealed that CEO Joanna Geraghty warned employees of further cost-cutting steps amid persistent weakness in travel demand. In a staff message dated Monday and reviewed by CNBC, Geraghty acknowledged that the airline continues to operate using borrowed funds and…
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Wells Fargo Predicts Tesla’s Free Cash Flow to Decline, Deliveries to Drop 20% Year-on-Year
Tesla is showing signs of weakening fundamentals, with Wells Fargo analysts projecting that the company’s free cash flow (FCF) could turn negative for the first time since 2018. In a note released Tuesday, the analysts maintained their Underweight rating on Tesla stock and a price target of $120. The report highlighted expectations for a significant…