Category: Top Story
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Citi Raises AI Revenue Forecasts Through 2028 as Cloud Demand Accelerates
Citi has increased its artificial intelligence service revenue forecasts for 2026 through 2028, citing sustained demand for AI services and stronger monetisation across major cloud computing providers. The investment bank raised its AI revenue estimates by 9% for 2026, 7% for 2027 and 17% for 2028, reflecting expectations for continued expansion in AI-related cloud services.…
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Tech Rebounds From Brutal Selloff as Strong Jobs Data Keeps Fed Rate Hike in Play
U.S. stocks ended a volatile week on a mixed note on Friday, with technology shares bouncing back from Thursday’s sharp AI-driven rout while the Dow Jones Industrial Average slipped. A much stronger-than-expected October jobs report pushed Treasury yields higher and kept investors focused on the possibility that the Federal Reserve raises interest rates in December.…
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Phio Pharmaceuticals Reports Third Quarter 2026 Financial Results and Business Update as It Advances PH-762 Toward Phase 2b Study Initiation
PH-762 Program Accomplishes Major Development Milestones Including Completion of Commercial-Scale cGMP Manufacturing, Treatment in Long-Term Toxicology Study, and Submission of Key Regulatory Documents to FDA King of Prussia, Pennsylvania – Phio Pharmaceuticals Corp. (NASDAQ:PHIO), a clinical-stage biopharmaceutical company developing therapeutic products based on its proprietary INTASYL® gene-silencing technology to eliminate cancer, today reported financial results…
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S&P 500 warning signal persists as tech stocks weaken
Bruce Campbell examines weakening technology stocks, improving defensive sectors and a persistent S&P 500 warning signal in Markets in Motion.
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US Stock Futures Mixed After Wall Street Sell-Off as Strong Jobs Data Fails to Ease AI Concerns: Dow Jones, S&P, Nasdaq
US stock futures pointed to a mixed opening on Friday following a sharp decline on Wall Street in the previous session, as investors weighed stronger-than-expected employment figures against concerns over artificial intelligence valuations and potential regulatory changes following the midterm elections. Nasdaq 100 futures advanced 1.3%, suggesting a potential recovery in technology shares, while Dow…
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Moderna Shares Jump 10% as Q3 Earnings Beat Forecasts and Revenue Outlook Improves
Moderna Inc. (NASDAQ:MRNA) shares surged 10% after the biotechnology company reported stronger-than-expected third-quarter 2026 earnings and revenue, raised its full-year sales growth forecast and increased its projected year-end cash balance. The company posted adjusted earnings of $0.38 per share, substantially exceeding analysts’ expectations for a loss of $1.09 per share. Revenue increased 29% year over…
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Airbnb Shares Jump Over 10% as Third-Quarter Earnings Beat Forecasts and Travel Bookings Accelerate
Airbnb (NASDAQ:ABNB) reported stronger-than-expected third-quarter financial results, supported by accelerating travel demand, higher booking volumes and improved pricing. The accommodation platform delivered its fastest revenue growth in more than three years and raised its full-year outlook, sending its shares more than 10% higher in premarket trading on Friday. At 04:07 ET, Airbnb shares were up…
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Tesla Plans to Scale Back Cybertruck Production in Texas as Focus Shifts to Cybercab
Tesla (NASDAQ:TSLA) intends to wind down production of its Cybertruck electric pickup at its Gigafactory in Austin, Texas, around the middle of 2027, according to Chief Executive Officer Elon Musk. The decision comes as the unconventional vehicle struggles to achieve widespread consumer acceptance, prompting the company to prioritise manufacturing capacity for its recently introduced Cybercab…
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US Stock Futures Mixed After AI Sell-Off as Investors Await Jobs Report: Dow Jones, S&P, Nasdaq, Wall Street
US stock futures were mixed on Friday, November 6, as investors assessed the consequences of a sharp technology-led market sell-off following the Democratic Party’s gains in the US midterm elections, while awaiting employment figures that could influence the Federal Reserve’s next interest-rate decision. The decline in artificial intelligence-related stocks wiped an estimated $2.5 trillion from…
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Nasdaq Falls Into Correction as AI and Chip Stocks Drag Wall Street Sharply Lower
U.S. stocks suffered a steep, broad-based sell-off on Thursday, wiping out the post-election rally from the day before. The Nasdaq Composite closed in correction territory, meaning it is more than 10% below its record close from October 6, as investors dumped artificial intelligence and semiconductor stocks. The main trigger was worry that Democratic control of…