Author: Press Room

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Check out the companies making headlines in midday trading. Nvidia — The chipmaker and artificial intelligence beneficiary spiked 11% after Nvidia posted strong fiscal first-quarter results , issued better-than-expected guidance and announced a 10-for-1 stock split. Other AI and related semiconductor names rallied on the results. Super Micro Computer shares rose by 1.2%. Boeing — Shares dropped roughly 6% after CFO Brian West said he expects negative free cash flow and that the company’s aircraft deliveries won’t recover in the second quarter from the first. Boeing is dealing with several production challenges with its best-selling planes. Live Nation Entertainment —…

A Louisville, Kentucky, police detective violated department policy by not activating his body camera during his controversial arrest of Scottie Scheffler last week when the top-ranked golfer was trying to drive into the PGA Championship venue, the city’s police chief said Thursday.Detective Bryan Gillis “should have turned on his body-worn camera but did not,” Louisville Metro Police Department Chief Jacquelyn Gwinn-Villaroel said at a press conference.”This officer has received corrective action for this policy violation” because of the seriousness of the violation, Gwinn-Villaroel said.Louisville Mayor Craig Greenberg at the press conference announced the release of video footage from the Friday…

Meta this week appointed a group of outside advisors to provide guidance on its artificial intelligence strategy. The four-person advisory group is composed entirely of White men. The tech giant said the group, which includes tech entrepreneurs and investors, will periodically consult with Meta’s management “on strategic opportunities related to our technology and product roadmap.” The move comes as Meta plans to invest tens of billions of dollars this year in AI infrastructure, research and product development. The council includes Patrick Collison, the co-founder and chief executive of financial technology company Stripe; Nat Friedman, the tech investor and former CEO…

Last updated: May 23, 2024 13:47 EDT | 2 min read Floki Holders Are Dumping FLOKI for This New ICO – Could It Deliver 1,700% Gains? / Source: Cryptonews The Floki Inu (FLOKI) price has stalled after hitting multi-week highs above $0.0002450 earlier this week, as holders dump FLOKI for a new ICO called 5thScape as the bet on securing 1,700%.FLOKI pushed above its 21 and 50DMAs earlier this month and has been trending higher now since the mid-April lows.Recent gains can be attributed to optimism that Ethereum ETFs might soon gain US approval.That could drive growth in Ethereum blockchain-issued…

Jamie Dimon, the CEO of JPMorgan Chase, signaled Monday that leaders of America’s biggest bank by assets have been tracking the story of the untimely death of a Bank of America banker this month — and that they’re taking seriously the industry-wide concerns it sparked about Wall Street’s unforgiving working conditions.At the bank’s annual presentation to investors on Monday, the chief executive recalled learning about the death of 35-year-old Leo Lukenas III and quickly conferring with fellow bank leaders about the potential fallout. “The second that unfortunate death happened, a bunch of us were right in Robin’s office,” he recounted on…

It was a little less than a year since MoviePass had filed for bankruptcy, and Ted Farnsworth was back.The bombastic CEO had acquired MoviePass, helped turn its parent company into a meme stock, and presided over its collapse. Now he was on Fox Business touting his latest venture.He and his cofounders were “really coming together in disrupting Hollywood again from the standpoint of media and content,” he told the Fox Business anchor Maria Bartiromo in a January 2021 TV interview.The company he’d founded, Zash Global Media and Entertainment, had agreed on a deal to merge with a little-known entity called…

Payoneer Global Inc. (NASDAQ:PAYO) reported another quarter of strong growth, yet the stock continues to flutter below $6. The global payments company is starting to execute their business plan of focusing on key payments customers, and B2B payments volumes are soaring. My investment thesis remains ultra-bullish on the cheap stock trading at a major bargain to the growth rates. Source: Finviz Another Big Quarter Ignored The global payments company reported a strong Q1 ’24, easily smashing consensus estimates as follows: Q1 GAAP EPS of $0.08 beats by $0.03. Revenue of $228.2 million (+18.8% YoY) beats by $17.0 million. The key…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Nvidia’s revenue soared 262 per cent in the past quarter, beating investors’ lofty expectations and sending the shares higher in after-hours trading on Wednesday. The chipmaker also announced a 10-for-one stock split effective from June 7, and said it was raising its quarterly cash dividend 150 per cent.Revenue for the three months to the end of April was $26bn versus consensus estimates of $24.7bn, driven by record artificial intelligence chip sales. The enormous year-on-year increase was similar to the prior quarter, when…

Hunter Biden’s trial on tax charges has been moved to September 5, after the judge presiding over the case made Biden’s attorney promise he would not seek further delays. In asking for a delay in the case, Abbe Lowell, an attorney for Biden, cited issues with discovery, witnesses and obtaining experts in the case, as well as the upcoming trial on federal gun crimes in Delaware, which is set for June 3. Hunter Biden, the son of President Joe Biden, has been accused of engaging in a tax-avoidance conspiracy for several years as he funded a lavish lifestyle as well…