AMD CEO Lisa Su speaks at a Senate Commerce, Science, and Transportation Committee hearing in Washington on May 8, 2025. The leaders of some of the biggest technology and artificial intelligence companies will go to Congress on Thursday with a wish list of sorts that at its top has doing away with regulation they say inhibits their firms’ growth and by default, sends business to China.Nathan Howard | Bloomberg | Getty ImagesAdvanced Micro Devices reported fiscal third-quarter results that exceeded Wall Street expectations, but gave margin guidance was inline with estimates. The stock slipped in extended trading. Here’s how the…
Author: usaeverydaylife
The outcome of New York’s mayoral election on Tuesday may wind up putting pressure on some specific stocks. Democratic nominee Zohran Mamdani, who has consistently led the polls heading into Election Day, wants to freeze the rent on rent-stabilized apartments in the city. He’s facing former Democratic Governor Andrew Cuomo, running as an independent, and Republican Curtis Sliwa, founder of Guardian Angels. That rent freeze could have implications for companies operating in New York that have exposure to rent-regulated real estate. About 1 million apartments in New York City are rent stabilized. A pause on increases would hurt those companies’…
Rivian electric SUV parked outside brick showroom on a sunny day, San Francisco, California, August 19, 2025. Smith Collection/gado | Archive Photos | Getty ImagesDETROIT – Rivian Automotive beat Wall Street’s expectations for the third quarter, as the company reported a its second quarterly gross profit this year thanks to a joint venture with Volkswagen and its software and services business.Here’s what Wall Street expected, based on average analysts’ estimates compiled by LSEG:Loss per share: 65 cents adjusted vs. a loss of 72 cents expectedRevenue: $1.56 billion vs. $1.5 billion expectedRivian stock was up more than 3% in extended trading Tuesday, after closing…
Nikolas Kokovlis | Nurphoto | Getty ImagesPinterest shares tanked as much as 15% on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.Here’s how the company did, compared to analysts’ consensus estimates from LSEG:Earnings per share: 38 cents adjusted vs. 42 cents expectedRevenue: $1.05 billion vs. $1.05 billion expectedPinterest’s third-quarter sales grew 17% year over year while net income was $92.11 million, up 201% from $30.56 million a year ago during the same period.The company said fourth-quarter revenue will come in between $1.31 billion and $1.34 billion. The midpoint of the…
The financial services industry has quietly become an artificial intelligence battleground and Lemonade, ticker LMND , is back in focus putting the ‘squeeze’ on the massive insurance industry that is seen as analog in the new digital world. The company IPO’d in the summer of 2020 (ouch) and dropped over 80% into the lows set in late 2023. But the company is back on a strong growth trajectory, fueled by the AI boom that could possibly disrupt the antiquated insurance industry that has incumbents with large market share, but are slow to evolve. Lemonade, which reports earnings before the bell…
Brand new Lucid electric cars sit parked in front of a Lucid Studio showroom in San Francisco on May 24, 2024.Justin Sullivan | Getty ImagesDETROIT — Challenges are mounting for all-electric vehicle manufacturers Rivian Automotive and Lucid Group as the companies try to sell investors on a brighter, more profitable future to come.But things could get worse before they get better as both automakers are set to report third-quarter results this week, starting with Rivian after the bell Tuesday, followed by Lucid on Wednesday.Both “pure EV” companies are expected to report notable growths in revenue and narrowed adjusted earnings losses…
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, August 11, 2023.Eduardo Munoz | ReutersThe judges in a federal appeals court in New York on Tuesday were skeptical of arguments by a lawyer for Sam Bankman-Fried that his conviction for a multi-billion-dollar fraud related to his cryptocurrency exchange FTX and an associated hedge fund should be tossed out.Bankman-Fried’s attorney, Alexandra Shapiro, was almost immediately and then repeatedly interrupted by the three-judge panel on…
Arvind Krishna, CEO of IBM, arrives for the Inaugural AI Insight Forum in Russell Building on Capitol Hill, on Wednesday, September 13, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesIBM said Tuesday that it will lay off a small percentage of its employees in the current quarter.”In the fourth quarter we are executing an action that will impact a low single-digit percentage of our global workforce,” a spokesperson told CNBC. “While this may impact some U.S.-based roles, we anticipate that our U.S. employment will remain flat year over year.”IBM employed 270,000 people at the end of 2024, according to…
OpenAI on Tuesday launched its Sora app of AI-generated videos for Android devices.The artificial intelligence company first launched Sora for Apple devices in September. The announcement on Tuesday brings the popular AI app to the Google Play app store for users in the U.S., Canada, Japan, South Korea, Taiwan, Thailand and Vietnam.Sora reportedly hit 1 million downloads less than five days after its debut, and it topped Apple’s App Store for nearly three weeks. Sora currently holds the no. 5 spot on Apple’s list of the top free apps, behind Google’s Gemini at no. 4 and ChatGP, which is also…
Electrical equipment supplier Eaton — whose products are essential to AI data centers — reported a mixed third quarter on Tuesday morning, which was pressuring shares. Adjusted earnings per share for the quarter ended in September rose 8% from the year-ago period to $3.07, a 2-cent beat of the LSEG compiled analyst consensus estimate. Revenue rose 10% to $6.99 billion, but missed the LSEG compiled analyst consensus estimate of $7.08 billion. Organic sales , which exclude a 3% benefit from acquisitions, grew 7%, short of the FactSet estimate for an 8.6% increase. ETN YTD mountain Eaton YTD Shares were down…
