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Gold Climbs Toward $5,000 Milestone as Silver Hits Fresh Records
Gold prices are closing in on the $5,000 mark, buoyed by escalating geopolitical tensions and renewed concerns over the independence of the U.S. Federal Reserve—factors that have weighed heavily on the dollar and intensified demand for alternative safe-haven assets. In early trading, spot gold touched a new record of $4,967.48 an ounce, extending weekly gains…
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Intel Slides on Q4 Loss, TikTok Restructures U.S. Business, Gold Hits Fresh High: Dow Jones, S&P, Nasdaq, Wall Street Futures
U.S. equity futures were mixed on Friday as investors weighed a heavy slate of corporate earnings and macroeconomic signals against easing geopolitical frictions between the United States and Europe. Intel (NASDAQ:INTL) reported a fourth-quarter loss and warned of further pressure from supply constraints tied to surging artificial intelligence data center demand, while TikTok unveiled a…
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U.S. Stocks Extend Yesterday’s Rebound Amid Easing Greenland Tensions
Stocks moved mostly higher over the course of the trading day on Thursday, adding to the strong gains posted during Wednesday’s session. The major averages further offset the steep losses posted on Tuesday, with the Dow turning positive for the week. The major averages ended the day well off their highs of the session but…
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Turkey set to formalise joint exploration agreement with Chevron
Turkey is preparing to sign a joint oil and gas exploration agreement with Chevron (NYSE:CVX) next month, according to the country’s energy minister. Speaking in an interview with broadcaster APara, Alparslan Bayraktar said that “these agreements with international companies will continue,” underlining Turkey’s strategy of deepening cooperation with global energy groups. Bayraktar added that, once…
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Microsoft strikes high-profile sponsorship deal with Mercedes F1
The Mercedes Formula One team has unveiled a major new commercial partnership with Microsoft (NASDAQ:MSFT), announced on Thursday at the launch of the team’s W17 car for the forthcoming Formula One season. Under the agreement, Microsoft’s branding will feature prominently on key areas of the car, including the airbox and the front wing, standing out…
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Commerce Bancshares edges past Q4 forecasts as revenue hits record
Commerce Bancshares, Inc. (NASDAQ:CBSH) posted fourth-quarter results on Thursday that came in just ahead of market expectations, helped by record revenue supported by both interest income and fees. The regional lender reported earnings of $1.01 per share for the quarter, slightly above the $1.00 consensus forecast. Shares were little changed in after-hours trading following the…
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Alibaba shares jump on report of potential IPO for AI chip arm
Alibaba Group Holding (NYSE:BABA) shares climbed after a report said the group is preparing the ground for a possible public listing of its semiconductor unit, aiming to tap strong investor demand for challengers to Nvidia in the rapidly expanding AI accelerator market. According to Bloomberg News, Alibaba’s first step would be to reorganize the chip…
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TMC shares climb after landmark deep-seabed mining permit filing
TMC the metals company (NASDAQ:TMC) shares jumped about 7% on Thursday after the company submitted what it says is the first consolidated application for deep-seabed mining under a new process overseen by National Oceanic and Atmospheric Administration (NOAA), a move that materially expands the area covered by its expected commercial recovery permit. The application, filed…
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Abbott shares slide after Q4 revenue comes in short, outlook disappoints
Abbott Laboratories (NYSE:ABT) shares fell about 4.8% after the company reported fourth-quarter results that met earnings expectations but fell short on revenue, alongside weaker-than-expected guidance for the first quarter. Abbott delivered adjusted earnings per share of $1.50 for the quarter, in line with analyst forecasts. Revenue totaled $11.46 billion, however, missing the $11.8 billion consensus…
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OFG Bancorp posts Q4 earnings and revenue beat on solid core performance
OFG Bancorp (NYSE:OFG) reported stronger-than-expected fourth-quarter results on Thursday, with both earnings and revenue coming in ahead of market forecasts. The financial holding company for Oriental Bank delivered earnings per share of $1.27 for the quarter, beating the analyst consensus of $1.15. Revenue reached $185.4 million, topping expectations of $184.17 million. Fourth-quarter EPS rose 16.4%…