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Alibaba's AI-Driven Cloud Growth Boosts Q2 Earnings
Alibaba, Friday, 15 November 2024.
Alibaba’s Q2 earnings surpassed expectations, driven by robust AI-related revenue growth in its cloud business. Despite slower overall sales, the tech giant’s strategic focus on AI infrastructure and international expansion signals a promising trajectory in a challenging economic landscape.
Disney's Streaming Success Propels Stock to Six-Month High
Burbank, Friday, 15 November 2024.
Disney’s stock surged to a six-month high following robust Q4 earnings and optimistic multi-year forecasts. The company’s streaming division turned profitable, reversing previous losses. Disney’s successful box office performances and theme park revenues contributed to the positive outlook, despite challenges in linear TV and international parks.
Global Oil Market Faces Surplus in 2025, IEA Reports
Paris, Thursday, 14 November 2024.
The International Energy Agency forecasts a global oil surplus exceeding 1 million barrels per day in 2025. This projection, driven by weak Chinese demand and rising non-OPEC+ supply, could significantly impact oil prices despite ongoing geopolitical tensions.
Klarna Aims for U.S. Market with Confidential IPO Filing
Stockholm, Thursday, 14 November 2024.
Swedish fintech giant Klarna has confidentially filed for a U.S. IPO, signaling a major move in the buy now, pay later sector. This strategic decision comes amid fluctuating valuations and growing regulatory scrutiny, highlighting Klarna’s ambition to capture the American market.
Cisco Beats Earnings Expectations Amid Revenue Decline
San Jose, Thursday, 14 November 2024.
Cisco Systems reported Q1 FY2025 earnings exceeding analyst forecasts, with revenue of $13.8 billion despite a 6% year-over-year decline. The tech giant saw a 20% increase in product orders, signaling potential growth amid market challenges. Cisco’s strong performance in AI infrastructure orders highlights its strategic pivot towards emerging technologies.
US Inflation Holds Steady at 2.6%, Signaling Economic Stability
Washington D.C., Wednesday, 13 November 2024.
The US inflation rate reached 2.6% in October 2024, aligning with expectations. This marks the first increase in seven months, driven by slower declines in energy costs and steady shelter inflation. Core inflation remained at 3.3%, suggesting a stable economic environment closely watched by investors and policymakers.
SoftBank Secures Nvidia's Latest Chips for Japan's AI Supercomputer
Tokyo, Wednesday, 13 November 2024.
SoftBank plans to build Japan’s most powerful AI supercomputer using Nvidia’s new Blackwell chip design. This move underscores SoftBank’s ambition to lead in AI development and could significantly boost computational capabilities in Asia.
Tyson Foods Reports Significant Profit Boost in Q4 2024
Springdale, Tuesday, 12 November 2024.
Tyson Foods announced a substantial increase in profitability for Q4 and fiscal year 2024, driven by strategic adjustments and increased sales across segments. The company’s Q4 sales reached $13,565 million, up 1.6% from 2023, with adjusted operating income soaring 117% to $512 million.
Tesla Stock Surges Past $350 as Trump Victory Fuels AI Optimism
New York, Tuesday, 12 November 2024.
Tesla’s stock soared over 7% on Monday, surpassing $350 per share. Analysts attribute the rally to optimism about Tesla’s AI potential under a Trump administration, with reduced regulatory hurdles potentially accelerating the company’s autonomous driving ambitions.
Home Depot Beats Expectations Despite Economic Headwinds
Atlanta, Tuesday, 12 November 2024.
Home Depot’s Q3 earnings surpassed forecasts, with sales rising 6.6% to $40.22 billion. Despite ongoing economic challenges, the company raised its full-year outlook, citing hurricane-related demand and recent acquisitions as contributing factors. However, high interest rates continue to pressure consumer spending on major home projects.