Semiconductor Manufacturing International Corporation (SMIC) recently issued a warning regarding the intense competition in the chip industry after its first-quarter profit fell short of expectations. The company acknowledged that competition within the industry has been growing fiercer, with pricing for commodity products closely following market trends. Despite these challenges, SMIC remains committed to advancing its
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Politan Capital has made it clear that they are not satisfied with Masimo’s current board composition. In response to Masimo’s offer to add one of Politan’s nominees to the board, the activist group demanded not only the addition of William Jellison but also the inclusion of Darlene Solomon. This move is aimed at ensuring that
Reddit’s shares surged 14% in after-hours trading following the release of its quarterly results, marking its first financial report since going public in March. The company reported a loss per share of $8.19, which was better than the expected $8.71 loss projected by LSEG. Additionally, Reddit’s revenue came in at $243 million, surpassing the $212.8
It is alarming to realize that in the United States, approximately one-third of the food produced goes to waste, ending up in landfills instead of nourishing people. This excess production, packaging, storage, and delivery requirements not only contribute to economic losses but also have a significant negative impact on climate change. A recent study from
Palantir Technologies, a defense tech firm specializing in big-data and artificial intelligence software, experienced a significant drop in its share price following the release of weaker-than-expected guidance. The company reported earnings per share of 8 cents, in line with expectations, but fell short on revenue, generating $634 million compared to estimates of $625 million. This
The recent surge in Tesla’s stock after news of progress toward launching their Full Self-Driving (FSD) feature in China may not be as significant as it seems. Mark Hawtin, the investment director at GAM Investment Management, believes that the excitement surrounding Tesla’s FSD capabilities is misleading. Contrary to popular belief, Tesla’s FSD service does not
Coinbase, a leading marketplace in the U.S. for buying and selling digital tokens, recently reported its first-quarter earnings, exceeding analysts’ expectations. The company’s revenue of $1.64 billion surpassed the projected $1.34 billion, while earnings per share stood at $4.40 compared to the average estimate of $1.09. This impressive performance can be attributed to various factors,
Bitcoin, the world’s leading digital currency, experienced a sharp decline on Wednesday, dropping to its lowest level in over two months. The price of Bitcoin fell below $57,000 for the first time since February 28, reaching as low as $56,757.93. This significant drop of 6.3% brought Bitcoin’s price down to $57,505.24. Additionally, other popular cryptocurrencies
Amazon is set to release its first-quarter earnings report after the closing bell on Tuesday. According to LSEG, analysts are expecting earnings per share of 83 cents and revenue of $142.5 billion. This report will provide insight into several key areas, including: – Amazon Web Services revenue of $24.5 billion – Advertising revenue of $11.7
Tesla’s shares saw a significant increase in U.S. premarket trading following the announcement that the electric car company had reached a major milestone in the rollout of its full self-driving technology in China. This news comes after Tesla CEO Elon Musk’s visit to China, where the company revealed that local authorities had lifted restrictions on