ADVFN US – Market Content Editor
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NBA Signs $77 Billion Broadcast Deal, CrowdStrike Criticized for Insufficient Reward, Honda Shuts Down Chinese Factory
Warner Bros Discovery (NASDAQ:WBD), Walt Disney (NYSE:DIS), Comcast (NASDAQ:CMCSA), Amazon (NASDAQ:AMZN) – The NBA signed an 11-year, $77 billion contract with Disney, NBCUniversal (Comcast), and Amazon to broadcast its games. Disney will air 80 regular-season games and the finals, NBCUniversal will show 100 games and one conference final, and Amazon will broadcast 66 games and…
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U.S. Stocks Move Sharply Lower On Disappointing Earnings News
After ending yesterday’s choppy trading session modestly lower, stocks showed a more substantial move to the downside during trading on Wednesday. The tech-heavy Nasdaq showed a particularly steep drop on the day, tumbling to its lowest closing level in over a month. The major averages saw further downside late in the session, closing near their…
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Ferrari Expands Payment Options in Europe; Bitcoin Conference Sparks Hesitation; $107M Inflows into Ether ETFs
Ferrari expands cryptocurrency payments to European dealerships Ferrari (NYSE:RACE) plans to extend its cryptocurrency payment scheme to European dealerships by the end of this month, following a successful launch in the United States last year. This initiative will enable luxury sports car buyers to make digital payments, meeting growing demand from wealthy clients. The strategy…
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New Home Sales, Oil Inventories Reports Due
The Commerce Department is scheduled to release its report on new home sales in the month of June at 10 am ET. New home sales are expected to climb to an annual rate of 640,000 in June after plunging to a rate of 619,000 in May. At 10:30 am ET, the Energy Information Administration is…
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Disappointing Earnings News Likely To Weigh On Wall Street
The major U.S. index futures are currently pointing to initial weakness on Wall Street on Wednesday, with stocks likely to come under pressure after ending yesterday’s lackluster session modestly lower. Early selling pressure is likely to be seen on Wall Street amid a negative reaction to the latest corporate earnings news. Shares of Tesla (NASDAQ:TSLA)…
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US Index Futures Fall Amid Tech Giant Earnings, Oil Prices Rise
U.S. index futures fell in pre-market trading on Wednesday, impacted by recent financial results from tech giants Tesla and Alphabet. Investors are watching for potential Federal Reserve interest rate changes and market recovery, focusing on upcoming earnings from companies like AT&T, General Dynamics, Ford, and IBM. At 4:55 AM, Dow Jones futures (DOWI:DJI) dropped 180…
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Meta Unveils Llama 3 AI Model, Elon Musk’s X Poll Backs Tesla’s $5B xAI Investment, and More
Meta Platforms (NASDAQ:META) – Meta launched the Llama 3 AI model, with 405 billion parameters, surpassing the previous version in language, coding, and math. Despite being smaller than rival models like GPT-4, Llama 3 offers free versions for developers, aiming to outshine competitors and drive innovation. Shares fell 1.7% pre-market. Tesla (NASDAQ:TSLA) – Elon Musk…
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Tesla Falls 7% on Profit Miss, Deutsche Bank Down 8% on Loss, Alphabet Drops 3% – Earnings Recap
Tesla (NASDAQ:TSLA) – Tesla reported adjusted earnings per share of 52 cents, below the expected 62 cents. Revenue was $25.50 billion, surpassing the forecast of $24.77 billion. Automotive sales fell 7%, totaling $19.9 billion. Tesla projects lower growth for 2024 and a focus on cost reduction. Shares fell 7.3% pre-market. Alphabet (NASDAQ:GOOGL) – Alphabet exceeded…
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Major Averages Finish Choppy Trading Session Modestly Lower
Stocks showed a lack of direction over the course of the trading session on Tuesday, with the major averages bouncing back and forth across the unchanged line following the strong upward move seen in the previous session. The major averages eventually ended the day modestly lower. The Dow slipped 57.35 points or 0.1 percent to…
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Ethereum ETFs Debut in High Demand, SingularityNET Invests in Supercomputer, dYdX Faces Security Issues
Ethereum spot ETFs debut with high demand and impressive volume Launched on July 23, the new Ethereum Spot ETFs attracted significant interest, with an impressive volume of $120 million in just 15 minutes and $361 million in the first 90 minutes. The Grayscale Ethereum Trust ETF (AMEX:ETHE) led with $147.8 million, followed by BlackRock’s ETF…