In April, inflation showed a slight easing, bringing some relief to consumers but still remaining above levels that would prompt the Federal Reserve to cut interest rates. The consumer price index (CPI), which tracks the cost of goods and services, rose by 0.3% from March, marginally below the expected 0.4%. On an annual basis, the… Continue reading CPI report shows inflation easing in April, with consumer prices still rising 3.4% from a year ago

AMC Entertainment successfully raised approximately $250 million in new equity capital, capitalizing on the renewed meme stock frenzy spurred by the return of “Roaring Kitty.” The movie theater operator sold 72.5 million shares through an at-the-market equity offering initiated on March 28, at an average price of $3.45 per share before accounting for commissions and… Continue reading AMC completes $250 million stock sale during meme rally, shares jump 90%

Shares of GameStop surged dramatically on Tuesday, continuing a meme stock rally sparked by “Roaring Kitty’s” first online post in three years. GameStop’s stock skyrocketed 62% before trading was paused, following a 74% increase on Monday. Similarly, AMC shares soared by 90%, despite the movie theater chain raising about $250 million in new equity capital… Continue reading GameStop shares surge 60% as meme stock craze returns

Demis Hassabis, renowned for his achievements in artificial intelligence (AI) research, is now at the forefront of Google’s colossal AI endeavors. His integration of DeepMind with Google Brain and subsequent appointment as its leader mark a pivotal moment for the tech giant’s AI strategy. Hassabis aims to democratize AI technologies across Google’s vast ecosystem, emphasizing… Continue reading Google’s Demis Hassabis is the man tasked with turning bleeding-edge AI research into profits

The recent surge in GameStop shares, soaring over 80% on Monday, was sparked by the return of “Roaring Kitty,” also known as Keith Gill, the catalyst behind the dramatic short squeeze of 2021. Gill, a former marketer for Massachusetts Mutual Life Insurance, gained prominence as DeepF——Value on Reddit, rallying a community of day traders around… Continue reading GameStop shares soar 110% and are halted as trader ‘Roaring Kitty’ who drove meme craze resurfaces

Once-thriving electric vehicle (EV) startups are grappling with the challenge of proving their viability amidst changing market dynamics. Rivian Automotive, Lucid Group, and Nikola Corp. are among those outlining strategies to shore up their finances and operational efficiency in the face of slowing EV adoption and heightened competition. This shift follows massive investments aimed at… Continue reading Rivian, Lucid and other EV startups scramble to shore up cash and reassure Wall Street

Consumer sentiment experienced a notable decline alongside rising inflation expectations, as revealed by the University of Michigan Survey of Consumers released on Friday. The sentiment index for May plummeted to 67.4 from April’s 77.2, marking a 12.7% drop over a month but a 14.2% increase year-over-year, falling well below the Dow Jones consensus forecast of… Continue reading Consumer sentiment tumbles as inflation fears surge, closely watched survey shows

President Joe Biden is set to visit Wisconsin, a pivotal battleground state, to announce Microsoft Corp’s plan to construct a $3.3 billion high-tech data center in Racine County. This significant investment follows Foxconn’s scaled-back plans on the same land, where a $10 billion factory was once envisioned. The Microsoft facility is projected to generate 2,300… Continue reading Biden to tout new $3.3 billion Microsoft data center at failed Foxconn site Trump backed

In early trading on Wednesday, Shopify experienced a significant drop of 19%, amounting to nearly $20 billion being wiped off its market value, following the company’s provision of revenue and profit guidance for the current quarter that unsettled investors. While the first-quarter results surpassed consensus expectations, with earnings per share at 20 cents adjusted compared… Continue reading Shopify shares plunge 19% on weak guidance

For The Walt Disney Company, a pivotal moment has arrived after years of preparation and strategic shifts. In its fiscal second quarter earnings report, Disney’s streaming business nearly turned a profit for the first time, marking a significant milestone in the company’s transition towards a future centered around direct-to-consumer offerings.1234After incurring substantial losses in its… Continue reading The streaming future Disney promised is finally here as cable TV decays

Peloton, the once-celebrated connected fitness company, has found itself in the crosshairs of several private equity firms as it grapples with a prolonged slump and seeks to refinance its debt. After a meteoric rise during the pandemic, Peloton has endured 13 consecutive quarters of losses, prompting these firms to consider a potential buyout.1234According to sources… Continue reading Private equity firms circle Peloton for potential buyout

Berkshire Hathaway’s Class A shares saw a 0.6% increase following the release of first-quarter results and the annual shareholders meeting, where it reported a 39% yearly surge in operating profit and cash holdings nearing $200 billion. Micron Technology, the semiconductor company based in Boise, Idaho, experienced a 4.5% jump after an upgrade from Baird to… Continue reading Stocks making the biggest moves midday: Berkshire Hathaway, Micron, Tyson Foods, Spirit Airlines and more