Category: Top Story

Acuity Inc. (NYSE:AYI) exceeded analyst expectations for fourth-quarter adjusted earnings, even as its revenue came in slightly below projections. The industrial technology firm reported adjusted earnings per share of $5.20, beating the consensus of $4.84, while revenue reached $1.21 billion, just below the anticipated $1.23 billion. Year-on-year, fourth-quarter revenue rose 17.1%, driven by robust performance…

Shares of Occidental Petroleum (NYSE:OXY) climbed 1.3% in premarket trading after reports indicated that Berkshire Hathaway (NYSE:BRK.A), led by Warren Buffett, is in negotiations to acquire Occidental’s OxyChem petrochemical division. The Wall Street Journal reported on Tuesday that the discussions involve a potential transaction valued at around $10 billion. According to the report, the deal…

General Motors (NYSE:GM) is initiating a recall affecting 23,700 units of certain 2024 Chevrolet Equinox EVs due to a problem with the pedestrian alert sound system. A notice submitted to the National Highway Traffic Safety Administration (NHTSA) explained that the system in these electric vehicles may not sufficiently adjust the alert volume when the car…

James Anderson, a former investment manager at Baillie Gifford, has voiced concerns over potential bubble-like dynamics in the AI industry, highlighting Nvidia’s (NASDAQ:NVDA) $100 billion commitment to OpenAI as a key point of worry. Anderson, who calls himself a “huge admirer” of Nvidia, told the Financial Times that the company’s significant OpenAI investment gave him…

Tesla (NASDAQ:TSLA) has raised lease rates for all its U.S. models after the federal government’s $7,500 electric vehicle tax credit expired, according to details published on the company’s website Wednesday. The adjustment comes in the wake of the expiration of incentives established under legislation approved by Congress, which ended on September 30. Previously, the incentives…

Caterpillar Inc (NYSE:CAT) shares dropped slightly in premarket trading after Dutch pension fund ABP divested its entire position in the company, according to a report from state broadcaster NOS on Wednesday. Prior to the divestment, ABP held a stake worth approximately €387 million in the heavy machinery manufacturer. The move follows ABP’s updated sustainability policy…

Novartis (NYSE:NVO) has obtained FDA approval for Rhapsido (remibrutinib), marking the first oral Bruton’s tyrosine kinase inhibitor (BTKi) for adults with chronic spontaneous urticaria (CSU) who continue to experience symptoms despite antihistamine therapy. Rhapsido is a twice-daily oral pill that eliminates the need for injections or lab monitoring. It works by targeting BTK to block…

Nike (NYSE:NKE) reported first-quarter earnings that surpassed Wall Street expectations on Wednesday, driven by solid performance in wholesale channels, pushing shares up more than 3% in premarket trading. The company posted earnings of 49 cents per share for the quarter, beating analysts’ forecast of 27 cents. Total revenue increased 1% to $11.7 billion, broadly in…

The U.S. dollar fell on Wednesday, dropping to a one-week low as investors grew concerned that an extended government shutdown could weigh on economic activity. At 04:25 ET (08:25 GMT), the Dollar Index, tracking the greenback against six major currencies, was down 0.2% at 97.275, marking its lowest point in a week. Shutdown in Washington…

In its latest metals outlook released Tuesday, UBS reiterated a cautious stance on palladium, highlighting the metal’s strong reliance on conventional vehicles. The investment bank pointed out that over 80% of palladium consumption is linked to catalytic converters in internal combustion engine (ICE) cars, creating a concentrated demand risk for the precious metal. Although the…