Category: Latest News
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Lyft Shares Up On Plans To Launch Mobileye-powered Robotaxis ‘As Soon As 2026’
U.S. ride-hailing company Lyft (NASDAQ:LYFT) plans to launch fully autonomous robotaxis powered by Mobileye, adding them to its app for use in Dallas “as soon as 2026”, reported by TechCrunch on Monday. The Mobileye-equipped vehicles will be owned and financed by Marubeni, a Japanese conglomerate with experience managing fleets. Shares of Lyft rose as much…
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Futures Pointing To Initial Rebound On Wall Street
The major U.S. index futures are currently pointing to a higher open on Monday, with stocks likely to regain ground following the steep drop seen in the previous session. Traders may look to pick up stocks at somewhat reduced levels following the sharp pullback seen last Friday, which came amid concerns about a surge by…
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Oil Prices Gush Higher As Investors Ponder New US Tariffs
Oil prices are up on Monday morning as investors digest the latest tariff threat issued by U.S. President Trump. He announced that all steel and aluminum imports would be subject to 25% tariffs. This comes just a week after he announced tariffs on Canada, Mexico and China, then suspended those for the neighboring countries the…
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Gold Prices Hit Record High As New Trump Tariff Announcement Increases Demand For Safe Haven
Gold prices were pushed to record high levels on Monday after U.S. President Trump announced further trade tariffs on imports of aluminum and steel. Spot gold rose 1.1% to a record high $2,892.30 an ounce, while gold futures expiring in April rose 0.9% to $2,916.05 an ounce. On Sunday, Trump announced he will impose 25%…
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U.S. Pull Back Sharply Amid Renewed Inflation, Tariff Concerns
Stocks moved sharply lower during trading on Friday, giving back ground after trending higher over the past few sessions. The major averages turned negative within the first hour of trading and saw further downside as the day progressed. The major averages climbed off their worst levels going into the close but remained firmly negative. The…
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Farmer Bros Earnings Spur Shares Up 54%
Coffee company Farmer Bros (NASDAQ:FARM) saw its shares surge 54% after reporting its second quarter earnings were better than expected, despite revenue being slightly lower than anticipated. The coffee roaster and distributor posted adjusted earnings per share of $0.01, which beats analysts estimates of a $0.09% loss per share. The company report net sales of…
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Pinterest Shares Jump 20% As AI-Powered Tools Boost Revenue Forecast
Social media company Pinterest (NYSE:PINS) forecast on Friday that its first-quarter revenue would be higher than estimated, with its AI-powered tools increasing ad spend on the image sharing platform. The company’s first-quarter revenue forecast of $837 million to $852 million was above analysts’ average estimate of $832.8 million. Its adjusted core earnings forecast of $155…
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U.S. Employment Increased Less Than Expected In January, Unemployment Edged Down
While the Labor Department released a report on Friday showing employment in the U.S. increased by less than expected in the month of January, the report also showed the unemployment rate unexpectedly edged slightly lower. The closely watched report said non-farm payroll employment rose by 143,000 jobs in January after surging by an upwardly revised…
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Mixed Jobs Data May Lead To Choppy Trading On Wall Street
The major U.S. index futures are currently pointing to a roughly flat open on Friday, with stocks likely to extend the lackluster performance seen in the previous session. The futures have seen some volatility following the release of the Labor Department’s closely watched report on employment in the month of January. While the report on…
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Amazon Misses Earnings Expectations, Shares Plunge
Tech giant Amazon’s (NASDAQ:AMZN) cloud computing arm has missed its revenue expectations, which raises concern about the tech company’s investment in AI. The company announced on Thursday that its cloud division, Amazon Web Services, reported reported a fourth-quarter revenue of $28.7bn (£23.1bn), which was slightly below Wall Street forecasts of $28.84bn. Investors were disappointed by…