Category: Latest News
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Lithium Americas Shares Surge 58% Amid Reports of U.S. Government Equity Interest
Shares of Lithium Americas Corp (NYSE:LAC) soared 58% on Wednesday after news surfaced that the U.S. government is exploring taking an equity stake in the lithium producer. The sharp rise in the stock price follows reports that federal officials are renegotiating the terms of a previously announced $2.3 billion loan. The original loan, aimed at…
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James Hardie Shares Slip 3.2% in U.S. on Incentives, Target Discrepancies
James Hardie (NYSE:JHX) shares fell 3.2% in U.S. trading after the company released its figures on material incentives and targets, which appear to diverge noticeably from market expectations, according to Citi. The building materials manufacturer’s reported numbers showed a clear departure from what analysts had projected, though Citi did not provide further details on the…
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ESSA Pharma Lowers XenoTherapeutics Merger Payout, Shares Fall 17%
ESSA Pharma (NASDAQ:EPIX) has revised the terms of its merger with XenoTherapeutics, sharply reducing the anticipated payout to shareholders at closing to around $0.12 per share, down from the prior estimate of $1.91 per share. Following the announcement, ESSA Pharma’s stock dropped 17% in premarket trading. The company had already distributed $1.69 per share to…
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Tesla Set for Strong Q3 Performance, Says Wolfe Research
Tesla (NASDAQ:TSLA) is on track to deliver a solid third quarter, according to Wolfe Research, which expects the automaker’s delivery numbers to come in ahead of Wall Street forecasts. “Q3 is poised to be a strong quarter,” Wolfe wrote, highlighting higher-than-anticipated demand in both the U.S. and China. The firm projects 465,000 to 470,000 deliveries,…
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Micron Rises in Premarket Trading as AI Demand Drives Strong Results and Forecast
Micron Technology (NASDAQ:MU) shares advanced in premarket U.S. trading on Wednesday following quarterly results that exceeded Wall Street expectations, accompanied by a positive outlook for the coming months. CEO Sanjay Mehrotra noted in a post-earnings call that the company’s performance was propelled by stronger-than-expected demand for its DRAM and NAND products. Headquartered in Boise, Idaho,…
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Ford issues recall for more than 115,000 trucks over steering issue
Ford Motor Company (NYSE:F) has announced a recall of 115,539 trucks in the U.S. after discovering a defect that could cause the upper shaft of the steering column to detach. The U.S. National Highway Traffic Safety Administration (NHTSA) reported the recall on Wednesday, warning that the malfunction may lead to a potential loss of steering…
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Alibaba Teams Up with Nvidia on Physical AI Project – Report
Alibaba (NYSE:BABA) has announced a new collaboration with Nvidia (NASDAQ:NVDA) centered on Physical AI, according to Science and Technology Innovation Express News. The partnership, revealed during a recent Alibaba event, aims to explore multiple facets of Physical AI development. Key areas of focus will include data synthesis and processing, crucial elements for building AI systems…
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Dow Jones, S&P, Nasdaq, Wall Street Futures, Markets Watch Powell’s Comments and Micron’s AI Growth
U.S. stock futures were largely flat on Wednesday, with investors focused on Federal Reserve Chair Jerome Powell’s remarks and quarterly guidance from semiconductor giant Micron. Powell highlighted the challenges of balancing stubborn inflation with slowing employment growth, while Micron reported stronger-than-expected demand for its memory chips from AI developers. Futures show limited movement By 03:38…
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Dollar firm as Powell urges caution; euro dips despite Ukraine optimism
The U.S. dollar strengthened slightly Wednesday after Federal Reserve Chair Jerome Powell adopted a cautious tone regarding further interest rate cuts, while the euro struggled to respond to positive headlines on Ukraine. At 03:50 ET (07:50 GMT), the Dollar Index, which measures the greenback against a basket of six major currencies, edged up 0.2% to…
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Oil Prices Steady as U.S. Stock Draws Offer Support
Oil markets were largely flat on Wednesday as data indicated a decline in U.S. crude inventories last week, reinforcing expectations of tightening supplies. Brent crude futures rose slightly by 3 cents to $67.66 per barrel by 06:30 GMT, while U.S. West Texas Intermediate (WTI) futures edged up 5 cents to $63.46. Both benchmarks had advanced…