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 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
Semiconductor stocks declined sharply on Tuesday, with Nvidia and its peers coming under pressure after fresh concerns emerged about the financial trajectory of OpenAI. Nvidia shares fell about 1.5% in trading, reversing some of the previous session’s gains when the stock closed at a record high after rising 4%. The chipmaker had recently broken out
Shell Plc has agreed to acquire Canadian energy producer ARC Resources Ltd. in a deal valued at about $13.6 billion, as the oil major looks to strengthen its reserves base and expand production. The transaction, which also includes the assumption of roughly $2.8 billion in debt, values ARC at a premium to its recent trading
Big Tech is entering an intensifying race to secure reliable, long-term energy as the rapid expansion of artificial intelligence drives an unprecedented surge in data centre power demand. This is forcing companies to lock in everything from nuclear and geothermal to experimental sources such as fusion and even space-based solar. Against this backdrop, Meta Platforms
Corning stock price continued its strong uptrend and is now hovering at its all-time high as it became a big winner in the artificial intelligence (AI) space. This rally may come into question on Tuesday as the company publishes its financial results. Corning stock price is soaring as the AI hype continues Corning, the biggest