Business

Shopify Shares Soar 18% as Upbeat Forecast Shows AI Boosting E-Commerce Business

Shopify shares jumped more than 18% after an upbeat third-quarter forecast signaled its AI investments are attracting merchants rather than disrupting busi
Business Lynn Hatem -

Broadcom Surges on AI Chip Momentum as Analysts Eye Long-Term Upside

Broadcom shares climb as AI semiconductor revenue grows at triple-digit rates, with analysts weighing long-term upside through 2028.
Business Lynn Hatem -

ConocoPhillips CEO Ryan Lance to Retire, CFO Andy O’Brien to Take Helm

ConocoPhillips CEO Ryan Lance will retire after 14 years, with CFO Andy O'Brien succeeding him September 1 as the producer posts its best profit since 2022
Business Khaled Ayoub -

Celsius Shares Tumble as Flagship Brand Sales Slide, Yet Traders Bet on Rebound

Celsius Holdings stock dropped about 17% after quarterly results missed estimates on falling flagship brand sales, though options traders bet on a rebound.
Business Lynn Hatem -

AppLovin Shares Plunge to 52-Week Low as Revenue Miss and Soft Guidance Rattle Investors

AppLovin shares fell about 20% to a 52-week low after quarterly revenue missed forecasts and guidance disappointed, overshadowing stronger-than-expected pr
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Latest

New York Sues Kalshi, Alleging Prediction Markets Are Illegal Gambling

New York sued prediction market platform Kalshi, alleging it runs an illegal gambling operation and seeking forfeiture of profits and restitution.

Aschenbrenner’s AI-Focused Hedge Fund Reportedly Sinks 67% in July Unwind

Leopold Aschenbrenner's AI-focused hedge fund reportedly dropped 67% in July, triggering a momentum-stock shakeout followed by a record snap-back rebound.

Novo Nordisk Shares Sink 10% After Heart Drug Ziltivekimab Fails Late-Stage Trial

Novo Nordisk shares fell about 10% after its experimental heart medicine ziltivekimab missed the primary goal of a key late-stage trial.

Apple Shares Slide as Supply Chain Constraints Cloud Outlook in Cook’s Final Earnings

Apple shares fell as supply chain constraints and rising memory-chip prices overshadowed strong product demand in Tim Cook's final earnings report as CEO.

Musk Rejects Report That Tesla May Sell China Business Amid SpaceX Merger Talk

Elon Musk has rejected a report that Tesla is weighing a sale of its China business amid speculation over a potential SpaceX merger.

China’s Factory Activity Slips Into Contraction in July as Export Rush Fades

China's official manufacturing PMI fell to 49.2 in July, its first contraction in five months, as the export-driven rebound loses momentum and domestic dem

Apple Posts Strongest June Quarter Ever as iPhone and Mac Sales Beat Forecasts

Apple reported record June-quarter results, beating Wall Street on iPhone and Mac sales, though services revenue missed targets and shares slipped after ho

U.S. Economy Slows to 1.5% Growth in Second Quarter as Inflation Stays Above Fed Target

The U.S. economy slowed to 1.5% growth in the second quarter as imports weighed on output, while inflation eased slightly but remained above the Fed's 2% t

Apple Stock Wavers After Landmark $5 Trillion Milestone Tests Investor Confidence

Apple shares slide shortly after reaching a historic $5 trillion market cap, as investors weigh valuation concerns and the payoff from AI spending.

Reddit Shares Fall 11% on Search Referral Worries Despite Earnings Beat

Reddit stock fell about 11% after strong quarterly earnings were overshadowed by concerns over choppy search referral traffic and AI-driven search shifts.

Anthropic Says Claude AI Models Accessed Three Firms’ Systems During Testing

Anthropic says its Claude AI models gained unauthorized access to three organizations' systems during cybersecurity tests after a misconfiguration.

Amazon Shares Surge as Cloud Growth Bolsters Case for Heavy AI Spending

Amazon shares jumped about 10% after strong AWS cloud sales and a raised capital spending plan reassured investors on its heavy AI investment.

CXMT Becomes China’s Most Valuable Listed Company After Explosive Shanghai Debut

Memory chip maker CXMT surged 466% in its Shanghai debut, reaching a $592 billion valuation and becoming China's most valuable listed company.

Apple’s Hybrid AI Strategy Is a ‘Competitive Weapon,’ Tim Cook Says

Tim Cook calls Apple's hybrid AI approach a competitive weapon and warns that a full Siri overhaul in China will roll out gradually amid a memory shortage.

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