Category: Top Story
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SK Hynix Shares Slide Despite Record Profit as Results Miss Lofty Expectations
SK Hynix (NASDAQ:SKHY) reported record quarterly earnings on Wednesday, but its shares tumbled nearly 10% after the results fell short of elevated market expectations, fuelling concerns that spending on artificial intelligence infrastructure by major technology companies could begin to slow. The South Korean memory chip maker, a key supplier to Nvidia, is also pursuing more…
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Markets Hold Steady Ahead of Fed Decision as Investors Await Microsoft and Meta Results: Dow Jones, S&P, Nasdaq, Wall Street Futures
U.S. stock futures traded close to unchanged on Wednesday as investors prepared for a pivotal session featuring the Federal Reserve’s latest interest rate decision and quarterly earnings from artificial intelligence leaders Meta Platforms (NASDAQ:META) and Microsoft (NASDAQ:MSFT). Meanwhile, renewed military tensions in the Middle East pushed oil prices sharply higher, adding another layer of uncertainty…
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Dow Jumps More Than 500 Points as Rotation Out of Chips Lifts Wall Street
Stocks finished mixed on Tuesday as investors continued to rotate out of high-flying chipmakers and into more economically sensitive and defensive corners of the market. Strong corporate earnings and a sharp drop in oil prices helped power the Dow Jones Industrial Average to a gain of more than 500 points, even as weakness in semiconductor…
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Visa Shares Rise as Company Plans Workforce Reduction
Visa Inc. (NYSE:V) shares gained around 2% on Tuesday after reports that the global payments company intends to reduce its workforce by approximately 7% as part of a broader restructuring programme. According to a Bloomberg report citing an internal memo from Chief Executive Officer Ryan McInerney, the initiative will affect roughly 2,600 positions, with most…
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Boeing Reports Wider-Than-Expected Second-Quarter Loss Despite Revenue Beat
Boeing Co. (NYSE:BA) reported a larger-than-expected adjusted loss for the second quarter, although revenue exceeded market forecasts as aircraft deliveries increased and the aerospace manufacturer generated positive cash flow. Shares rose around 1.2% following the results. Revenue Tops Expectations as Deliveries Increase Boeing posted an adjusted loss of $0.76 per share for the second quarter,…
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Coca-Cola Raises Full-Year Profit Forecast After Strong Second-Quarter Performance
Coca-Cola (NYSE:KO) increased its full-year earnings outlook after reporting second-quarter results that exceeded analysts’ expectations, supported by higher comparable earnings and continued revenue growth. Shares edged higher in pre-market trading following the announcement. Comparable earnings per share for the quarter ended 3 July rose 7% year over year to $0.97, beating the Bloomberg consensus estimate…
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Incoming Apple Chief Executive Plans to Expand Entertainment Business
Apple (NASDAQ:AAPL) incoming chief executive John Ternus said he intends to build on the company’s recent success in film and television when he takes over leadership of the iPhone maker in September. Apple entered the original content market in 2019 with the launch of its Apple TV+ streaming service, producing a growing catalogue of award-winning…
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Hormel Foods Appoints John Ghingo as Chief Executive Officer
Hormel Foods Corporation (NYSE:HRL) has named John Ghingo as its next president and chief executive officer, with his appointment set to take effect on 26 October 2026. Ghingo will succeed Jeff Ettinger, who has led the company as interim chief executive during the board’s search for a permanent successor. Experienced Executive to Lead Next Phase…
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Hilton Shares Weaken as Third-Quarter Profit Forecast Falls Short of Expectations
Hilton Inc (NYSE:HLT) shares fell more than 2% in pre-market trading on Tuesday after the hotel operator delivered second-quarter results broadly in line with market expectations but issued a weaker-than-expected earnings outlook for the third quarter. The company reported second-quarter earnings per share of $2.29, narrowly exceeding the analyst consensus estimate of $2.26. Revenue totalled…
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Meta and BlackRock Partner on $14 Billion Texas Data Centre Development
Meta Platforms (NASDAQ:META) and BlackRock (NYSE:BLK) have agreed to form a joint venture to develop and own a major data centre campus in El Paso, Texas, in a project with an estimated total development cost of approximately $14 billion. The agreement brings together Meta’s expanding artificial intelligence infrastructure plans with BlackRock’s infrastructure investment capabilities. BlackRock…