Guangzhou-based Xpeng is one of several Chinese electric car companies that’s started to expand overseas.Feature China | Future Publishing | Getty ImagesChinese electric-vehicle maker Xpeng saw its shares in Hong Kong surge over 10% Thursday following upbeat earnings and stronger-than-expected revenue forecast for the second quarter.Its shares soared as much as 10.2% to 85.5 Hong Kong dollars ($10.86), and were last trading 7% higher, taking year-to-date gains to 78%.The Guangzhou-based carmaker’s first-quarter revenue more than doubled from a year earlier, driven by robust sales.Xpeng said it delivered 94,008 vehicles in the first three months this year, more than four times…
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The ‘Fast Money’ traders talk Wednesday’s market downturn. Source link
Wegovy injection pens arranged in Waterbury, Vermont, US, on Monday, April 28, 2025. Shelby Knowles | Bloomberg | Getty ImagesOnly half of health insurer Cigna’s clients currently cover the popular GLP-1 weight loss drugs Wegovy and Zepbound because of their high costs. But the company’s pharmacy benefits unit Evernorth has reached a deal with drug makers Ely Lilly and Novo Nordisk which it said will bring prices down for employers and their workers.”This solution is really focused towards clients that aren’t covering it today, and what it allows us to do is one, to bring it on at a reduced…
What started as a friendly first meeting between President Donald Trump and South African President Cyril Ramaphosa quickly devolved after a reporter asked Trump about the U.S. decision to admit white South Africans as refugees.Trump baselessly claimed that there was a genocide against white people in South Africa, which Ramaphosa and other South Africans have vigorously denied.Wednesday’s heated meeting marks the latest in a string of unusually tense Oval Office meetings with foreign leaders. It comes amid heightened tensions between the U.S. and South Africa over claims by Trump and Elon Musk about the country’s racial equity laws, which prompted the U.S. to recently…
CNBC’s Emily Wilkins joins ‘Fast Money’ to talk the latest on the GOP budget bill. Source link
CNBC’s Jim Cramer on Wednesday told investors to be patient as stocks sold off due to rising bond yields and uncertainty about the federal budget, saying the market will recover when the budget bill is passed.”We’re in the thick of it right now. The budget deficit is front and center. Hence the reckoning,” he said. “When we finish the budget negotiations and we get some big beautiful bill, people will start focusing on how the tax cuts should be great for growth.”The Dow Jones Industrial Average sank 1.91%, The S&P 500 lost 1.61% and the Nasdaq Composite shed 1.41% as…
With Speaker of the House Mike Johnson (R-LA) by his side U.S. President Donald Trump speaks to the press following a House Republican meeting at the U.S. Capitol on May 20, 2025 in Washington, DC, U.S. Tasos Katopodis | Getty Images News | Getty Images It’s one bad headline after another coming from the White House these days. Just as the tariff-related turmoil rocking markets subsided — and only temporarily, since the clock is still ticking on the pause on “reciprocal tariffs” — fears of ballooning U.S. debt are sparking another broad sell-off in markets. This time, investors are wary…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailBryan Gildenberg, Retail Cities North America managing director, joins ‘Fast Money’ to talk the real versus perceived impact of tariffs and how consumers are reacting to the fear of rising prices. Source link
An employee counts inventory in a Walmart Supercenter on May 15, 2025 in Austin, Texas. Brandon Bell | Getty ImagesU.S. retail bellwether Walmart is planning to cut about 1,500 jobs as part of a restructuring push to simplify its operations, according to a memo seen by Reuters.The company’s plan will impact teams in its global technology operations, e-commerce fulfillment in U.S. stores and its advertising business Walmart Connect.”To accelerate our progress delivering the experiences that will define the future of retail, we must sharpen our focus,” the memo said.The company will also eliminate some roles and opening some new ones, according to the plan.Walmart is…
Emerging markets said to see the next bull run as the ‘sell U.S.’ narrative gains groundEmerging markets stocks are in the spotlight again as the “sell U.S.” narrative gains fresh momentum, following Moody’s recent downgrade of the U.S. credit rating.The Bank of America heralded emerging markets as “the next bull market” recently. “Weaker U.S. dollar, U.S. bond yield top, China economic recovery…nothing will work better than emerging market stocks,” Bank of America’s team, led by investment strategist Michael Hartnett, said in a note. Similarly, JPMorgan upgraded emerging market equities from neutral to overweight on Monday, citing thawing U.S.-China trade tensions and attractive…
