Category: Latest News
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General Motors shares rise after securing long-term Micron chip supply
GM strengthens semiconductor supply chain with Micron agreement Shares of General Motors (NYSE:GM) edged higher on Wednesday after the automaker unveiled a strategic partnership with Micron Technology (NASDAQ:MU) aimed at securing a long-term supply of memory and storage components for its vehicles. The Strategic Customer Agreement is designed to ensure GM has dependable access to…
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US private-sector hiring slows in June as ADP payrolls miss forecasts
Private payroll growth comes in below expectations Private-sector employment in the United States increased by 98,000 jobs in June, falling short of market expectations and pointing to a moderation in hiring momentum, according to figures released by payroll processor ADP. The latest report showed private payrolls rose by 98,000 last month, down from 122,000 in…
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Gold holds steady after recording its weakest quarterly performance in 13 years
Bullion stabilises as investors await Fed signals Gold prices traded little changed on Wednesday, finding some stability after suffering their steepest quarterly decline in more than a decade as rising expectations for higher U.S. interest rates weighed heavily on precious metals. Market participants are now looking ahead to remarks from Federal Reserve Chair Kevin Warsh…
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Cameco suspends Cigar Lake mining after acid plant outage disrupts ore processing
Production paused following equipment failure at McClean Lake Cameco (NYSE:CCJ) has temporarily halted mining activities at its Cigar Lake uranium operation in northern Saskatchewan after an equipment failure at Orano’s McClean Lake processing facility interrupted ore treatment. The disruption stems from a shutdown of the sulfuric acid plant at the McClean Lake mill, where uranium…
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Wedbush initiates SpaceX with Outperform rating, sees AI and Starlink driving long-term growth
Analyst sees SpaceX evolving into a leading hyperscaler Wedbush has launched coverage of Space Exploration Technologies Corp. (NASDAQ:SPCX) with an Outperform rating and a $190 price target, arguing that the company is uniquely positioned to become a major hyperscaler spanning satellite connectivity, space launches and artificial intelligence infrastructure. Analyst Dan Ives described SpaceX as “one…
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Corona maker Constellation Brands tops forecasts as beer business drives earnings growth
Strong beer performance lifts quarterly results Constellation Brands Inc Class A (NYSE:STZ) reported first-quarter results ahead of Wall Street expectations, supported by continued strength in its beer division. Adjusted earnings came in at $3.43 per share, surpassing the consensus forecast of $3.25 by $0.18. Revenue reached $2.43 billion, slightly above analysts’ expectations of $2.41 billion,…
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Tesla Q2 deliveries seen rising as European demand gathers pace (TSLA)
Analysts forecast stronger quarterly deliveries Tesla (NASDAQ:TSLA) is expected to report higher vehicle deliveries for the second quarter when it releases production and delivery figures on Thursday, with Wall Street forecasting a rebound driven primarily by improving demand in Europe. According to a survey of 20 analysts compiled by Visible Alpha, Tesla is expected to…
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Nike warns turnaround will take longer as China weakness clouds outlook (NKE)
Revenue beat fails to offset cautious outlook Nike (NYSE:NKE) acknowledged that its turnaround remains a work in progress after ongoing weakness in China and a subdued outlook overshadowed a modest fourth-quarter revenue beat. The sportswear group reported a 1% decline in quarterly revenue, while sales in Greater China fell by double digits, leaving investors unconvinced…
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Oil prices edge higher as uncertainty over Iran-US talks fuels supply concerns
Crude markets rebound on geopolitical uncertainty Oil prices moved modestly higher on Wednesday as investors assessed the risk that stalled negotiations between Iran and the United States could delay a lasting agreement, raising concerns about future crude supplies from the Middle East. Brent crude futures gained 14 cents, or 0.19%, to $73.09 a barrel by…
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Citi lowers bitcoin and ether price targets as ETF outflows weigh on crypto outlook
Brokerage turns more cautious on leading cryptocurrencies Citigroup has reduced its 12-month price forecasts for bitcoin (COIN:BTCUSD) and ether (COIN:ETHUSD), citing weaker investor demand, persistent exchange-traded fund (ETF) outflows and limited progress on US cryptocurrency legislation. In a research note published on Tuesday, the bank lowered its bitcoin target to $82,000 from $112,000 and cut…