ADVFN US – Market Content Editor
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Palantir and Lucid Shares Surge After Beating Estimates; ZoomInfo and Chegg Drop 16% – Earnings Update
Palantir Technologies (NYSE:PLTR) – The AI software company reported $678 million in Q2 revenue, up 27% year-over-year, beating the $653 million estimate. Net income was $134 million, or 6 cents per share, compared to 1 cent the previous year. The annual revenue forecast increased to up to $2.75 billion. Shares rose 11.2% pre-market. Lucid Group…
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Google Faces Antitrust Ruling; SunPower Files for Bankruptcy and Business Sale – Latest Business News
SunPower (NASDAQ:SPWR) – SunPower filed for Chapter 11 bankruptcy in the US and sold part of its business to Complete Solaria for $45 million. Complete Solaria will acquire Blue Raven Solar, New Homes segments, and SunPower’s non-installing dealer network. The company listed its assets and liabilities between $1 billion and $10 billion and will continue…
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U.S. Stocks Move Sharply Lower Following Overseas Sell-Off
Stocks moved sharply lower during trading on Monday, extending the sell-off seen to close out the previous week. The major averages all showed significant declines, with the Nasdaq and the S&P 500 hitting three-month lows. The major averages ended the day off their lows of the session but still firmly negative. The Nasdaq (NASDAQI:COMP) plunged…
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Crypto Markets Plunge Amid Global Uncertainty, Bitcoin ETF Volume Surges, and Key Updates
Cryptocurrencies plunge amid recession fears and global tensions On Monday, Bitcoin (COIN:BTCUSD) dropped from $57,531.60 to $49,050, partially recovering to $53,799. Over $350 million in long positions were liquidated in two days, the highest value in four months. Ether hit a low of $2,112.00, the largest daily drop since 2021, recovering to $2,416.23. Other cryptocurrencies…
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U.S. Stocks May Extend Sell-Off Amid Overseas Weakness
The major U.S. index futures are currently pointing to a sharply lower open on Monday, with stocks likely to extend the sell-off seen over the two previous sessions. An overseas sell-off, which saw Japan’s Nikkei 225 Index record its biggest slump since “Black Monday” in October 1987, is likely to carry over on to Wall…
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U.S. Index Futures and Oil Prices Plunge on Recession Concerns
U.S. index futures fell sharply after a volatile week, with the Nasdaq Composite entering correction territory due to recession concerns and uncertainties about Federal Reserve actions. At 04:37 AM, Dow Jones futures (DOWI:DJI) dropped 607 points or 1.52%. S&P 500 futures lost 2.16%, and Nasdaq-100 futures declined 3.40%. The 10-year Treasury yield was at 3.761%.…
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Nvidia AI Chip Delays, Mars Eyes Kellanova Acquisition, Berkshire Hathaway’s Cash Surge to $277 Billion
Nvidia (NASDAQ:NVDA) – According to Reuters, design flaws could delay the launch of Nvidia’s new AI chips by up to three months, affecting customers like Meta, Google, and Microsoft. The Blackwell series, succeeding the Grace Hopper Superchip, faces production issues, impacting orders from these major companies. Shares fell 7% pre-market. Kellanova (NYSE:K) – Mars, the…
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Disappointing Jobs Data, Earnings Lead To Extended Sell-Off On Wall Street
Stocks moved sharply lower during trading on Friday, adding to the steep losses posted during Thursday’s session. With the extended sell-off, the tech-heavy Nasdaq dropped to its lowest closing level in two months and the S&P 500 hit a nearly two-month closing low. The major averages ended the day off their lows of the session…
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Employment Increased Much Less Than Expected; Unemployment Rate Rose
The Labor Department released a closely watched report on Friday showing employment in the U.S. increased by much less than expected in the month of July. The report said non-farm payroll employment climbed by 114,000 jobs in July after jumping by a downwardly revised 179,000 jobs in June. Economists had expected employment to rise by…
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Economic Worries, Disappointing Earnings May Lead To Extended Sell-Off
The major U.S. index futures are currently pointing to a sharply lower open on Friday, with stocks likely to extend the sell-off seen over the course of the previous session. Concerns about the outlook for the U.S. economy may continue to weigh on Wall Street following the release of a closely watched Labor Department report…