Honor launched the Magic V3 foldable smartphone in international markets as it steps up its challenge to Samsung.HonorHonor launched the Magic V3, its latest foldable smartphone, in international markets on Thursday as the Chinese tech company ramps up its challenge to Samsung in the fast-growing market.The handset, which has a screen that folds like a book, has already been launched in China, but its release overseas highlights Honor’s continued push to expand its share in the high-end market abroad.With the Honor Magic V3, Honor talked up how thin the device is compared to rivals. The company said that the phone…
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Check out the companies making headlines in premarket trading. C3.ai — The technology stock tumbled 19.2% after on weaker-than-expected subscription revenue during the company’s fiscal first quarter. C3.ai posted $73.5 million for the top line, while analysts polled by FactSet had penciled in $79.2 million. Verizon , Frontier Communications — Verizon announced it will purchase Frontier Communications in an all-cash deal valued at $20 billion, confirming earlier reports of the transaction. Frontier shares fell 9.7%, while Verizon’s stock advanced 1.2%. The deal is expected to close in the next 18 months. Tesla — The electric vehicle stock rose nearly 3%…
A worker at a Volvo car store introduces the Volvo xc60 and other models via a live streaming in Shanghai, China, March 18, 2024.Cfoto | Future Publishing | Getty ImagesVolvo Cars on Thursday scaled back its margin and revenue targets, after announcing it was no longer targeting 100% all-electric vehicle sales by 2030.The Swedish automaker, which is majority-owned by China’s Geely Holding, said it is now targeting a 2026 EBIT (earnings before interest and taxes) margin goal of 7-8%, down from “above 8%,” due to “increased complexity especially in relation to global trade and tariffs.”It added that it was now…
Here are Thursday’s biggest calls on Wall Street: Morgan Stanley names Arm a top pick The firm said the semiconductor company is an “overlooked AI beneficiary.” “We introduce Arm as our new large-cap Top Pick based on mobile recovery, new edge AI opportunities and the resulting royalties’ expansion.” Cantor Fitzgerald initiates Amazon as overweight Cantor said it sees upside to estimates for the e-commerce giant. “The investment thesis on AMZN is still centered on 1) retail margin expansion, and 2) AWS acceleration.” Cantor Fitzgerald initiates Meta as overweight Cantor said Meta is a top pick at the firm. “We believe…
Private sector payrolls grew at the weakest pace in more than three-and-a-half years in August, providing yet another sign of a deteriorating labor market, according to ADP.Companies hired just 99,000 workers for the month, less than the downwardly revised 111,000 in July and below the Dow Jones consensus forecast for 140,000.August was the weakest month for job growth since January 2021, according to data from the payrolls processing firm.”The job market’s downward drift brought us to slower-than-normal hiring after two years of outsized growth,” ADP chief economist Nela Richardson said.The report corroborates multiple data points recently that show hiring has…
BRUSSELS, BELGIUM – MARCH 05: European Union Chief Brexit negotiator Michel Barnier speaks during a conference after the first round of UK-EU negotiations in Brussels, Belgium on March 05, 2020.Anadolu AgencyFrench President Emmanuel Macron has named Michel Barnier, the European Union’s former Brexit negotiator, as prime minister in a bid to end a political stalemate that has mired the nation since early July.Macron charged Barnier with forming a government on Thursday, according to an announcement shared by the Elysee Palace.The 73-year-old conservative must now face a no-confidence vote in the lower house of parliament before assuming governance.The announcement hopes to…
Jaque Silva | SOPA Images | Lightrocket | Getty ImagesIn late 2022, OpenAI’s launch of ChatGPT spurred an explosion of interest in the possibilities for artificial intelligence.Within months, some of the biggest tech companies in the world, including Microsoft, Meta and Google, joined the party, launching their own AI chatbots and generative AI tools. By the end of 2023, Nvidia proved it was the only company in the world positioned to make huge amounts of money by powering those services.Fast-forward to 2024, and a big theme in AI involves our consumer favorite gadgets, with tech companies trying to bring AI…
The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. Nurphoto | Getty ImagesSome employees of British pharmaceutical giant AstraZeneca have been detained by police in China as part of an investigation, the company confirmed Thursday.”We are aware a small number of our employees in China are under investigation and we have no further information to share at this point,” an AstraZeneca spokesperson told CNBC by email, without disclosing details on what the investigation concerns.The confirmation came in response to reports earlier Thursday from Bloomberg News, which said that there were five current and…
Alvaro Gonzalez | Moment | Getty ImagesLayoffs soared in August, hitting their highest total for the month in 15 years, while year-to-date hiring reached a historic low, outplacement firm Challenger, Gray & Christmas reported Thursday.Announced job cuts totaled 75,891 for the month, lurching 193% higher than July. Though the total was just 1% higher than the same month in 2023, it was the highest number for August going back to 2009, as the economy was still escaping the worst of the global financial crisis.On the hiring front, companies said they were adding just 6,101 new workers, up by nearly 2,500…
A Tesla Model S car equipped with Autopilot.David Paul Morris | Bloomberg | Getty ImagesTesla said it will launch its “Full Self Driving” driver assistance product in Europe and China early next year.In a post on the X social media platform, Elon Musk’s electric vehicle company on Thursday said that the service — which comes as a paid add-on feature for Tesla customers — is slated for launch in the two regions in the first quarter of 2025, “pending regulatory approval.”Tesla is yet to receive regulatory permission to launch its FSD product in Europe and China, but Musk in July…
