Pat Gelsinger, chief executive officer of Intel Corp., holds a wafer as he speaks at the Computex conference in Taipei, Taiwan, on Tuesday, June 4, 2024. Annabelle Chih | Bloomberg | Getty ImagesIntel CEO Pat Gelsinger said on Thursday that it’s been a “difficult few weeks” since the chipmaker’s disastrous earnings report and the company is working hard to address investor concerns.”We respect some of the skepticism we’ve received from the market,” Gelsinger said in a fireside chat at Deutsche Bank’s technology conference in Dana Point, California. “We believe we’re up for the challenge.”Intel’s stock price plunged 26% following the company’s…
Author: usaeverydaylife
Check out the companies making headlines before the bell: Abercrombie & Fitch — Shares of the retailer, which owns the Abercrombie and Hollister banners, fell more than 9% after it reported a 21% increase in its revenue during its fiscal second quarter and issued bullish guidance for the current period. Abercrombie posted earnings of $2.50 per share on revenue of $1.13 billion, surpassing earnings expectations of $2.22 per share on $1.10 billion in revenue, per analysts polled by LSEG. Nordstrom — Stock in the retailer climbed more than 1% after second-quarter earnings beat estimates , while the company raised the…
Foot Locker on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. The beleaguered sneaker company’s same-store sales grew 2.6% during its fiscal second quarter, far better than the 0.7% uptick that analysts had expected, according to StreetAccount. Its gross margin also expanded for the first time in more than two years. Despite the positive trends, the company’s shares closed more than 10% lower. “The Lace Up Plan is working,” CEO Mary Dillon said in a press release, referencing the company’s turnaround strategy.…
Investors have been jumping into single-stock funds that track Nvidia ahead of the chipmaker’s earnings report Wednesday, making this a key opportunity for a fast-growing corner of the ETF world to prove its worth. The GraniteShares 2x Long Daily Nvidia ETF (NVDL) has attracted more than $500 million of inflows over the last month, and is now over $5 billion in total assets, according to FactSet. The T-Rex 2X Long Nvidia Daily ETF (NVDX) and Direxion Daily NVDA Bull 2X Shares (NVDU) have also attracted inflows this month and now have more than $1 billion in assets combined. The three…
Bleakley’s Peter Boockvar talks what he is expecting from Fed Chair Powell’s Jackson Hole speech. Source link
Venita Cooper, founder of Silhouette Sneakers & Art in the Greenwood district of Tulsa, Oklahoma.Parnia Mazhar| NBC News.TULSA — Nestled among rows of colorful shoes lining the walls of Silhouette Sneakers & Art, a framed black-and-white photo reminds owner Venita Cooper of the giants whose shoulders she stands on.Overlaid on that picture is the company name, Grier Shoe Shop, and its address — which is part of an area known as Black Wall Street. It was the business occupying Cooper’s building before it was destroyed during the Tulsa Race Massacre more than a century ago.In the decades between Grier and…
Elon Musk has attacked voting by mail as an “insane” idea that encourages election fraud, but he voted by mail twice when he lived in California, according to records of his voting history obtained by NBC News.Musk voted by mail in November 2016, the year Donald Trump defeated Hillary Clinton, and in the November 2018 midterm election, the records show. Musk’s primary residence was in Los Angeles at the time. The state records show that Musk had a sparse history of voting in California. During the 18 years he was eligible to vote there, he cast ballots in only those two elections. He…
Homeless people consume illegal drugs in an encampment along Willow St. in the Tenderloin district of downtown on Thursday, Feb. 24, 2022 in San Francisco, CA. Gary Coronado | Los Angeles Times | Getty ImagesAcross California, homeless encampments on city streets, in public parks and beneath highways have become among the most visible symbols of the state’s overwhelming challenges with affordable housing. Government officials are now using their newfound power to take on the problem.In late June, the U.S. Supreme Court ruled 6-3, with the conservative majority voting together, that cities are allowed to enforce fines and make arrests for public…
A young woman working at a table in a garden.Ute Grabowsky | Photothek | Getty ImagesAustralia has become the latest country to allow employees the “right to disconnect” from work, a measure that has so far been implemented mostly in European nations.Under the new legislation, that came into effect on Monday, organizations are not allowed to punish employees for not picking up their phone or responding to emails outside of work hours. This means that while employers and third-party clients can still make contact with their staff beyond paid hours, workers now have the legal right to refuse to respond —…
For many, Singapore — the city that inspired “Crazy Rich Asians” — is synonymous with luxury, with top-tier accommodations, high-end shopping and restaurants.But where to stay, shop and eat in a city that has so many options?CNBC’s “First Class” series takes viewers into the city’s top hotels and Michelin-starred restaurants, with an insider’s look into The Shoppes at Marina Bay Sands, home to an underwater tunnel that connects the main building to a floating Louis Vuitton store.Watch the video above for more details on how to travel in style in Singapore. Source link
