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Amer Sports shares climb after earnings beat and upgraded annual outlook (AS)
Strong first-quarter growth lifts guidance for full year Amer Sports, Inc. (NYSE:AS) reported first-quarter results ahead of market expectations on Tuesday and raised its outlook for the full year, helping push the company’s shares 2.53% higher in premarket trading. The sportswear and equipment group posted adjusted earnings of $0.38 per share, outperforming analyst forecasts of…
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Home Depot beats quarterly forecasts as consumer demand holds steady (HD)
Home Depot Inc. (NYSE:HD) reported first-quarter earnings and revenue ahead of Wall Street expectations, helping lift the company’s shares about 1% in premarket trading on Tuesday. The home improvement retailer posted adjusted earnings of $3.43 per share, topping analyst forecasts of $3.41 per share. Quarterly revenue came in at $41.77 billion, above the consensus estimate…
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Ferrari Group shares surge after first-quarter organic growth tops 7% (RACE)
Ferrari Group (NYSE:RACE) shares climbed more than 8% on Tuesday after the company reported first-quarter revenue of €90 million and organic year-on-year growth of 7.4%. The company said results were supported by strong performances from subsidiaries in Brazil, the United States and the United Arab Emirates, while trading conditions in Asia continued to be affected…
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Analog Devices closes in on $1.5 billion Empower Semiconductor acquisition – Bloomberg (ADI)
Analog Devices reportedly in advanced negotiations for cash takeover Analog Devices (NASDAQ:ADI) is reportedly nearing an agreement to acquire privately owned chipmaker Empower Semiconductor in a deal valued at approximately $1.5 billion in cash, according to a Bloomberg News report published Tuesday citing sources familiar with the matter. The report said an announcement could come…
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Stellantis to unveil US recovery plan, streamlined brands and China partnerships in investor strategy update
Stellantis (NYSE:STLA) chief executive Antonio Filosa is set to present a new long-term roadmap to investors on Thursday, outlining plans aimed at reviving the group’s critical U.S. business, simplifying its broad brand portfolio and expanding collaborations with Chinese automakers. The strategy presentation, taking place during the automaker’s capital markets day in Auburn Hills, Michigan, represents…
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Google and Blackstone to launch AI cloud venture backed by $5 billion investment as shares gain (GOOGL)
New AI infrastructure company to use Google-designed chips Alphabet’s (NASDAQ:GOOGL) Google and Blackstone Inc (NYSE:BX) announced plans on Tuesday to create a new artificial intelligence cloud computing company powered by Google’s proprietary AI chips, lifting shares of both companies in premarket U.S. trading. In a joint statement, the companies said Blackstone will invest $5 billion…
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Intel pushes PC makers toward next-generation chips amid AI demand surge (INTC)
Intel encourages wider adoption of processors built on 18A technology Intel (NASDAQ:INTC) is urging laptop and PC manufacturers to accelerate adoption of processors produced using its latest semiconductor manufacturing technology, as booming demand for artificial intelligence computing continues to strain supplies of advanced chips, Nikkei Asia reported Tuesday. According to the report, which cited industry…
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Oil slides nearly 2% after Trump delays planned strike on Iran
Oil prices declined on Tuesday after U.S. President Donald Trump said he had postponed a planned military strike on Iran to allow more time for negotiations aimed at ending the conflict in the Middle East. Trump said in a social media post on Monday that a military attack on Iran scheduled for Tuesday had been…
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Gold Pulls Back as Investors Track Developments in Iran Ceasefire Talks
Gold prices declined on Tuesday, surrendering much of the previous session’s advance as traders continued to assess developments surrounding a potential ceasefire between the United States and Iran. The precious metal swung between gains and losses before slipping to around $4,538 an ounce. President Donald Trump said on Monday that he had approved a new…
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Nickel prices advance amid Indonesia supply concerns after production curbs
Nickel prices moved higher on Tuesday as the market reacted to potential supply disruptions in Indonesia, the world’s largest nickel producer, following reports that Tsingshan Group had instructed nickel pig iron producers at its Weda Bay industrial complex to scale back output. Three-month nickel on the London Metal Exchange rose 0.4% to $18,567 per metric…