Brent crude oil prices hit a near one-month high on Wednesday as reports claimed that the US will continue to block shipments from Iranian ports in the Strait of Hormuz. The price of West Texas Intermediate crude oil also jumped comfortably above the triple-digit figure as supply concerns gripped the market. Gold on the other
SoFi Technologies reported strong first-quarter results, with profit and revenue surpassing expectations, but its shares fell sharply after the company issued a slightly weaker-than-expected outlook for the current quarter. The financial services firm said it expects adjusted revenue growth of around 30% in the second quarter, just below analyst estimates of 31%. The cautious guidance
Robinhood stock price slumped by over 9% in the extended hours after the blue-chip company’s earnings fell short of expectations because of the cryptocurrency slump. HOOD dropped to $74 after closing at $82 in the regular session. So, is it safe to buy the dip or sell the rip? Robinhood stock falls as earnings fall
The nomination of Kevin Warsh to lead the Federal Reserve advanced on Wednesday after the Senate Banking Committee approved his candidacy in a sharply divided vote, paving the way for a final confirmation in the Republican-controlled Senate. The committee backed Warsh by a 13–11 margin along party lines, with all Republicans voting in favor and
Shares of Starbucks rose about 8% on Wednesday after the coffee giant reported stronger-than-expected second-quarter results and raised its annual outlook, signaling early success in its ongoing turnaround strategy under CEO Brian Niccol. The stock also gained following the earnings release, as investors responded positively to improving sales trends and a return to year-over-year earnings
The UK’s benchmark FTSE 100 index edged higher on Tuesday, supported by a strong rally in energy stocks after BP reported better-than-expected first-quarter earnings. The gains put the index on track to end a six-day losing streak, even as geopolitical tensions continued to weigh on sentiment. The FTSE 100 rose 0.4% to 10,367.61 points by
The consumer goods giants that built empires on household staples are struggling to justify their valuations. At the time of writing, Nestlé has shed nearly a quarter of its market value over the past five years. PepsiCo is up just 6.9%. Procter & Gamble, 11.2%. Colgate-Palmolive, 4.3%. Only Coca-Cola, with a near 40% gain, has
Corning reported better-than-expected first-quarter results but issued a softer revenue outlook for the current quarter, weighing on investor sentiment and halting a recent rally in optical communications stocks. The company posted adjusted earnings of 70 cents per share for the quarter, edging past analysts’ estimate of 69 cents, according to FactSet. Core sales rose 18%
The CEO of Norway’s $2.2 trillion sovereign wealth fund has urged companies to adopt artificial intelligence (AI) in a way that benefits society broadly, cautioning against using the technology primarily to cut jobs. Speaking on Tuesday to Reuters, Nicolai Tangen warned that layoffs linked to AI adoption could spark a backlash, particularly as companies globally
US stocks opened lower on Tuesday, led by weakness in technology shares, as investors reassessed whether the artificial intelligence boom can sustain its momentum. The tech-heavy Nasdaq Composite fell more than 1.15%, while the S&P 500 dropped around 0.54%. In contrast, the Dow Jones Industrial Average edged higher by 110 points or 0.23%, supported by