Category: Latest News
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Birkenstock surpasses profit estimates, lays out strategy to manage tariffs
Birkenstock (NYSE:BIRK) reported stronger-than-expected profit for its fiscal third quarter and reaffirmed its full-year guidance, as the historic German footwear maker said it is in a solid position despite elevated U.S. tariffs on European goods. Famous for its sandals and clogs, the 250-year-old company noted it is “well-positioned” to navigate the 15% levies on many…
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Coherent shares tumble as analysts warn of earnings shortfall
Coherent (NYSE:COHR) surpassed Wall Street’s expectations for its fiscal fourth quarter on Wednesday, yet its stock fell more than 17% in premarket trading in the U.S. following a mixed outlook for the current quarter. The laser and optical components manufacturer, which provides materials for automotive chip production, reported earnings of $1.00 per share for the…
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Cisco Shares Slip Slightly Pre-Market Despite Bullish Revenue Outlook
Shares of Cisco Systems (NASDAQ:CSCO) edged lower in early U.S. trading even after the networking giant provided a stronger-than-expected first-quarter revenue forecast. The company also noted some impact from U.S. tariffs during its recently concluded fiscal year. Cisco is seen as a potential winner amid rising corporate investments in artificial intelligence infrastructure, as companies look…
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U.S. Stocks Close Little Changed Following Choppy Trading Day
After recovering from an early move to the downside, stocks showed a lack of direction over the course of the trading session on Thursday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing narrowly mixed. While the S&P 500 (SPI:SP500) crept up 1.96 points or less than…
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Bitcoin Surpasses $124K on Rate Cut Hopes and Corporate Buying Surge
Bitcoin (COIN:BTCUSD) hit a new all-time high on Thursday, boosted by rising expectations for a Federal Reserve rate cut in September and increased corporate purchases. Ether (COIN:ETHUSD), the world’s second-largest cryptocurrency, also advanced sharply, approaching its 2021 peak. The rally has been fueled by a wave of corporate investors adopting a Bitcoin treasury strategy inspired…
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Dollar steadies as investors eye Fed; sterling lifted by UK GDP
The U.S. dollar held near multi-week lows on Thursday as market participants awaited economic data expected to support a Federal Reserve rate cut next month. At 04:05 ET (08:05 GMT), the Dollar Index, which tracks the greenback against six major currencies, rose 0.1% to 97.709, slightly above the two-week low seen in the previous session.…
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Gold inches up as Fed cut expectations rise, Trump-Putin summit in focus
Gold prices rose slightly in Thursday’s Asian trading session, as hopes for a potential Federal Reserve interest rate cut next month buoyed the market. Investors also turned their attention to the upcoming U.S.-Russia talks. Spot gold climbed 0.2% to $3,361.87 per ounce, while December gold futures remained relatively stable at $3,409.65/oz by 01:19 ET (05:19…
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Oil Climbs Slightly as Markets Eye Trump-Putin Talks
Oil prices edged up in Thursday’s Asian trading session as investors focused on the potential effects of a high-stakes meeting between U.S. President Donald Trump and Russian President Vladimir Putin on global supply. Crude has been struggling for the past two weeks amid persistent concerns over declining demand, and prices fell sharply on Wednesday after…
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Musk: Google leads AI race… for now
Elon Musk stated on Wednesday that Google (NASDAQ:GOOG) currently has the highest likelihood of leading the artificial intelligence sector, thanks to its extensive computing power. He also commented that major AI companies, including his own xAI, will “continue to prosper” in the foreseeable future. “Outside of real-world AI, Google has the biggest compute (and data)…
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Dow Jones, S&P, Nasdaq, Wall Street Futures, Markets Steady, Cisco Beats Forecasts, Bitcoin Climbs to Record
U.S. stock futures showed little movement on Thursday after global equity markets reached fresh record highs for a second straight day. Investors remain focused on the possibility of Federal Reserve rate cuts. Meanwhile, Cisco Systems delivered stronger-than-expected guidance for the current quarter, driven by growing corporate investment in artificial intelligence. Key economic data releases in…