ADVFN US – Market Content Editor
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CCC Intelligent Solutions Jumps on Report of Potential Sale Process (CCC)
CCC Intelligent Solutions Holdings Inc (NASDAQ:CCC) surged about 15% in premarket trading after a Reuters report said the software company is exploring strategic alternatives, including a possible sale. According to sources cited by Reuters, CCC has hired Morgan Stanley to oversee the process and has already approached a number of prospective buyers, including private equity…
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Disney Explores Free Disney+ Option to Strengthen Streaming Growth (DIS)
The Walt Disney Company (NYSE:DIS) is considering launching a free version of Disney+ as it seeks to broaden its streaming audience and better compete with the growing popularity of free, advertising-supported video platforms, according to a Business Insider report published on Friday. Disney shares were little changed in premarket trading. Free Streaming Models Gain Momentum…
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OpenAI and Google Provided AI Services to Pentagon-Listed Chinese Groups via Singapore Units
OpenAI (NASDAQ:OAI) and Alphabet’s (NASDAQ:GOOGL) Google have supplied advanced artificial intelligence services to Singapore-based subsidiaries of Alibaba (NYSE:BABA), Baidu Inc (NASDAQ:BIDU) and Tencent Holdings Ltd (NASDAQ:TME), despite the parent companies appearing on the Pentagon’s blacklist, according to a Financial Times report published on Friday. Shares of Alphabet were little changed in premarket trading, while U.S.-listed…
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Gold Heads for Weekly Loss as Middle East Tensions Boost Rate Concerns
Gold prices edged lower on Friday and remained on course for a weekly decline as renewed military tensions between the United States and Iran increased concerns that higher energy costs could keep inflation elevated and delay interest rate cuts. Silver and platinum were also set to end the week lower, while oil prices continued to…
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Oil Holds Steady and Remains on Course for Weekly Advance as Middle East Risks Stay Contained
Oil prices were little changed on Friday, but both major benchmarks remained on track to post solid weekly gains as investors weighed renewed military tensions between the United States and Iran against expectations that the conflict will remain limited and avoid disrupting crude exports from the Persian Gulf. At 14:18 ET (18:18 GMT), U.S. West…
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U.S. Futures Cautious Ahead of Earnings Season as Markets Monitor Geopolitical Risks: Dow Jones, S&P, Nasdaq, Wall Street
U.S. equity futures traded with little direction on Friday as investors weighed strength in Asian technology stocks against ongoing tensions in the Middle East while preparing for the start of the second-quarter earnings season. “Steady earnings fundamentals continue to anchor index volatility, Q2 results will be key to confirm this,” Barclays strategist Emmanuel Cau wrote…
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Wall Street Rallies as Chip Stocks Rebound and Oil Prices Ease Despite Iran Tensions
US stocks closed higher on Thursday as investors looked past a renewed flare-up in US-Iran hostilities and instead focused on a rebound in semiconductor stocks ahead of SK Hynix’s much-anticipated Nasdaq trading debut. Falling oil prices helped calm nerves even as the US and Iran traded fresh strikes during the session, with all three major…
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JPMorgan Downgrades Stellantis as Cost-Cutting Benefits Expected to Take Longer to Materialise (STLA)
JPMorgan Turns More Cautious on Stellantis J.P. Morgan downgraded Stellantis (NYSE:STLA) to Neutral from Overweight on Thursday, while cutting its price target to €6 from €10, arguing that the automaker’s restructuring efforts will take longer than previously anticipated to translate into stronger earnings. Shares listed in the U.S. fell 1.8% in pre-market trading, while the…
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Starbucks Develops AI Software to Reduce Reliance on Microsoft and IBM, Report Says (SBUX)
Starbucks Expands Internal AI Development Starbucks Corp. (NASDAQ:SBUX) is reportedly developing artificial intelligence-powered software that could replace several enterprise applications currently supplied by Microsoft Corp. (NASDAQ:MSFT) and International Business Machines Corp. (NYSE:IBM), according to a Bloomberg report citing an internal company presentation. Among the projects under development are replacements for Microsoft’s inventory management software and…
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Meta Shares Slip as Heavy AI Infrastructure Spending Weighs on Investor Sentiment (META)
Massive AI Investment Overshadows In-House Chip Progress Meta Platforms (NASDAQ:META) shares fell 2.6% on Thursday morning as investors focused on the enormous cost of the company’s artificial intelligence expansion, despite progress toward developing its own AI chips. The social media giant revealed plans to begin production of its first internally designed AI chip, code-named “Iris,”…