Category: Latest News
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OpenAI Q2 Growth Trails Anthropic as Operating Loss Widens, WSJ Says
OpenAI (NASDAQ:OAI) recorded an 18% increase in revenue during the second quarter, but its operating loss expanded considerably as the ChatGPT developer struggled to keep pace with rival Anthropic, according to The Wall Street Journal, citing people familiar with the companies’ financial results. OpenAI reportedly told investors that revenue reached $6.7 billion during the three…
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Dollar Tree Shares Rise After Jefferies Upgrade on Improving Store Traffic
Dollar Tree (NASDAQ:DLTR) shares gained around 1% in U.S. pre-market trading after Jefferies upgraded the discount retailer to Hold from Underperform, citing improving customer traffic and a reduced risk of further market-share losses in the near term. Analysts led by Corey Tarlowe said Dollar Tree’s operating story has returned to being “simple and straightforward.” Jefferies’…
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Samsung Raises Advanced Chipmaking Prices as AI Demand Tightens Capacity
Samsung Electronics (USOTC:SSNHZ) has increased prices for some of its advanced contract chip manufacturing services by as much as 15% on new orders, according to two people familiar with the matter, as booming demand for artificial intelligence chips puts pressure on available foundry capacity. Demand from Chinese customers has been particularly strong. However, Samsung has…
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Kingsoft Cloud Shares Jump After Second-Quarter Results Beat Forecasts
Kingsoft Cloud Holdings Limited (NASDAQ:KC) shares surged 8.97% in pre-market trading on Wednesday after the cloud services provider reported stronger-than-expected second-quarter results, supported by rapid expansion in its artificial intelligence business. Revenue reached RMB3.07 billion, ahead of the consensus forecast of RMB3.03 billion and up 30.8% year-on-year from RMB2.35 billion in the second quarter of…
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Full Truck Alliance Tops Forecasts as Transaction Revenue Accelerates
Full Truck Alliance Co. Ltd. (NYSE:YMM) reported second-quarter results on Wednesday that came in ahead of analysts’ expectations, supported by higher transaction service revenue and continued growth in activity across its digital freight platform. The shares showed a muted reaction to the stronger-than-expected figures, edging just 0.57% higher in pre-market trading following the announcement. Adjusted…
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Weibo Shares Rise After Second-Quarter Earnings Beat Forecasts
Weibo Corporation (NASDAQ:WB) shares advanced 3.29% in pre-market trading on Wednesday after the Chinese social media company reported second-quarter earnings and revenue above analysts’ expectations. Adjusted earnings per share came in at $0.38, ahead of the consensus forecast of $0.36. Revenue increased 2% year-on-year to $453.8 million, exceeding the $442.44 million expected by analysts. Value-Added…
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Gold Edges Higher as Dollar and Treasury Yields Ease Before Fed Minutes
Gold prices moved modestly higher on Wednesday as weakness in the U.S. dollar and a pullback in Treasury yields provided some support ahead of the release of minutes from the Federal Reserve’s latest policy meeting. At 05:42 ET (09:42 GMT), spot gold gained 0.6% to $4,360.82 an ounce, while gold futures slipped 0.1% to $4,414.30…
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Oil Prices Extend Gains as Hormuz Tensions Persist
Oil prices advanced for a fourth consecutive session on Wednesday as the continuing dispute between the United States and Iran over the Strait of Hormuz reinforced concerns that global crude supplies could remain constrained in the months ahead. Benchmark Brent crude futures gained 0.3% to $91.32 a barrel by 04:43 ET (08:43 GMT), while U.S.…
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U.S. Futures Little Changed After Semiconductor-Led Selloff: Dow Jones, S&P, Nasdaq, Wall Street
U.S. stock futures traded close to flat on Wednesday as investors assessed the previous session’s semiconductor-driven decline and rising government bond yields while awaiting fresh signals from the Federal Reserve. At 03:11 ET (07:11 GMT), Dow futures were up 42 points, or 0.1%, while S&P 500 futures were broadly unchanged. Nasdaq 100 futures slipped 40…
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Chip Selloff and Rising Bond Yields Drag Nasdaq Down 1.3% as Wall Street Retreats
U.S. stocks closed lower on Tuesday, with technology shares leading a broad pullback as a sharp selloff in semiconductor stocks and a renewed climb in bond yields rattled investor confidence. Growing anxiety about inflation and mounting government debt kept Treasury yields elevated throughout the session, pressuring the high-growth names that have powered much of this…