Category: Latest News
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Birkenstock Shares Fall as Discounted Secondary Offering Pressures Stock
Birkenstock Holding (NYSE:BIRK) shares dropped 2.5% in pre-market trading after the footwear company announced a secondary offering involving 22.5 million shares priced below the stock’s previous market close. The shares are being sold by BK LC Lux MidCo S.à r.l., an entity affiliated with L Catterton, with the offering price representing a 4.02% discount to…
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Apple Develops China-Specific AI Model With Alibaba Support, Reuters Reports
Apple Inc (NASDAQ:AAPL) has trained its own large language model specifically for the Chinese market with assistance from Alibaba (NYSE:BABA), Reuters reported on Friday, signalling a change in the technology giant’s approach to introducing artificial intelligence services in China. The development could give Apple greater control over its AI technology as it prepares to bring…
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Fox Shares Jump After JPMorgan Upgrade and Higher Price Target
Fox Corp (NASDAQ:FOX) Class A shares climbed 4.1% in pre-market trading to $68.14 after JPMorgan upgraded the media company from Neutral to Overweight and increased its price target to $82 from $70. The brokerage highlighted Fox’s strong underlying performance, favourable economics from the FIFA World Cup and expectations surrounding the company’s pending acquisition of Roku…
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Reddit Shares Surge as S&P 500 Inclusion Set for August 18
Reddit (NYSE:RDDT) shares jumped 12.3% in pre-market trading after S&P Dow Jones Indices announced that the social media company will enter the S&P 500 before the opening bell on August 18. Reddit will replace AvalonBay Communities, which is leaving the benchmark in connection with its pending acquisition by fellow S&P 500 member Equity Residential. The…
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Gold Falls Below $4,350 as Profit-Taking Offsets Fed Rate Support
Gold prices moved lower on Friday, extending their retreat from a 10-week high reached earlier in the week as investors locked in some gains following the recent rally. Persistent uncertainty surrounding the Strait of Hormuz continued to complicate the inflation outlook and expectations for Federal Reserve monetary policy. At 02:08 ET (06:08 GMT), XAU/USD fell…
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Oil Prices Head for Weekly Gain as Hormuz Supply Risks Persist
Oil prices moved higher on Friday and remained on course for their first weekly advance in three weeks, as a fresh attack on a vessel in the Strait of Hormuz added to uncertainty over the movement of crude and liquefied natural gas through the key shipping route. Brent crude futures rose 1.0% to $87.90 a…
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Applied Materials Slips Despite Strong Outlook as SMIC Rallies on Earnings: Dow Jones, S&P, Nasdaq, Wall Street Futures
U.S. stock futures traded close to unchanged on Friday as investors assessed softer inflation data, a fresh round of technology earnings and renewed volatility across semiconductor shares. Applied Materials (NASDAQ:AMAT) issued stronger-than-expected fourth-quarter revenue guidance but still came under pressure as investors weighed the outlook against already elevated expectations for companies exposed to the artificial…
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S&P 500 Notches Record Close as Cooling Inflation Lifts Wall Street
Stocks pushed higher on Thursday, with the S&P 500 closing at a record high just below the 7,800 mark, as a fresh batch of tame inflation data reinforced expectations that the Federal Reserve will hold interest rates steady next month. Softer readings on wholesale prices, arriving a day after an in-line consumer inflation report, helped…
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McGraw Hill Shares Rise Nearly 4% After Q1 Earnings and Revenue Beat Forecasts
McGraw Hill, Inc. (NYSE:MH) shares gained 3.9% after the education solutions provider delivered first-quarter earnings and revenue above Wall Street forecasts. Growth in recurring and digital revenue, alongside stronger profitability, provided momentum as the company approaches the most important selling period of its fiscal year. McGraw Hill beats first-quarter forecasts McGraw Hill reported adjusted earnings…
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Aebi Schmidt Shares Jump 7% as Q2 Revenue Beats Forecasts and Orders Strengthen
Aebi Schmidt Holding AG (NASDAQ:AEBI) shares climbed 7.7% in Thursday premarket trading after the company reported second-quarter revenue above Wall Street expectations and delivered a sharp improvement in profitability. Strong order intake and a growing backlog provided further support, while management reaffirmed its full-year 2026 outlook. Aebi Schmidt Q2 revenue beats expectations Aebi Schmidt generated…