A Zoox autonomous robotaxi in San Francisco, California, US, on Wednesday, Dec. 4, 2024. David Paul Morris | Bloomberg | Getty ImagesAmazon’s Zoox issued a software recall for 270 of its robotaxis after a crash in Las Vegas last month, the company said Tuesday.The recall surrounds a defect with the vehicle’s automated driving system that could cause it to inaccurately predict the movement of another car, increasing “the risk of a crash,” according to a report submitted to the National Highway Traffic Safety Administration. Zoox submitted the recall after an April 8 incident in Las Vegas where an unoccupied Zoox robotaxi…
Author: usaeverydaylife
As the shock of Warren Buffett’s exit settles in, one question about the succession has become the elephant in the room — Who will handle Berkshire Hathaway’s $275 billion portfolio of stocks? The legendary, 94-year-old investor is stepping down as chief executive officer at the end of 2025 after an epic 60-year run, but will stay on as chairman of the board. Greg Abel, 62, is poised to take over the reins and have the final word on Berkshire’s sprawling operations and where the conglomerate will deploy its arsenal of cash. It’s unclear if Berkshire’s equity portfolio will be managed entirely…
Coterra Energy is cutting back on its oil drilling in response to sagging crude prices and spending more on natural gas production — but that move, announced alongside first-quarter results, is being overshadowed by some operational concerns and leading to a stock sell-off Tuesday. Revenue in the first quarter increased 33% year over year to $1.9 billion, short of the $1.97 billion consensus estimate, according to LSEG. Adjusted earnings per share of 80 cents in the three months ended March 31 matched expectations, LSEG data showed. On an annual basis, adjusted EPS increased 56.9%. Free cash flow of $663 million…
Check out the companies making headlines in midday trading: Palantir — Shares tumbled 13.4%. Palantir posted $884 million in first-quarter revenue , while analysts polled by LSEG penciled in $863 million. However, earnings per share came in line with Wall Street expectations at 13 cents. Ford Motor — The automaker advanced 3.2% on better-than-expected first-quarter results, reversing an earlier decline. Ford reported adjusted earnings of 14 cents per share on $37.42 billion in revenue. Analysts surveyed by LSEG expected earnings of 2 cents per share and revenue of $36.21 billion. Management suspended its 2025 guidance , citing “near-term risks, especially…
A man walks through Killian Court at MIT in Cambridge.REUTERS/Brian SnyderMajor U.S. universities have filed a lawsuit seeking to block President Donald Trump’s administration from carrying out steep cuts to federal research funding provided to academic institutions by the National Science Foundation.The lawsuit was filed late on Monday in federal court in Boston by 13 schools including the Massachusetts Institute of Technology and Princeton University, as well as the Association of American Universities and two other academic trade groups.They took aim at a decision NSF announced on Friday to cap reimbursement for indirect research costs at 15%, an action that…
Tesla sales in Germany and Britain fell to their lowest point in more than two years in April, cementing a wider trend of Europeans shunning the U.S. automaker, despite growing demand for battery-powered vehicles in Europe.Registrations of new Tesla vehicles dropped nearly 46 percent in Germany and 62 percent in Britain from a year earlier, although both countries reported increases in the number of electric vehicles sold in the same period, according to statistics released on Tuesday.Other European countries reported similar drops in demand for Tesla’s products, with new registrations in Sweden plunging more than 80 percent, while demand in…
Investors seeking safety from current trade war volatility might consider betting on cybersecurity stocks, according to BCA Research. Uncertainty stemming from the Trump administration’s tariff rollout has roiled markets in recent weeks, sending the S & P 500 down nearly 20% its all-time high reached in February at one point. But promises of easing trade tensions sent the benchmark back up 13% since April 8, and it is now down just 5% on the year. Still, a lack of progress signs has left many investors hesitant to trust the mid-April rebound. In a recent note, BCA Research offered a solution…
The S & P 500 and Nasdaq Composite have recovered their losses since the April 2 tariff announcement. Now, investors are trying to figure out the market implications of the Federal Reserve decision on Wednesday. The CME Group’s FedWatch tool shows a more than 95% chance that the central bank will keep rates at the current 4.25%-4.5% range. However, Wall Street will look for clues on future policy moves, taking queues from Chair Jerome Powell’s comments following the decision. Craig Johnson, chief market technician at Piper Sandler, thinks even neutral commentary from Powell could send stocks lower, as the S…
President Donald Trump on Tuesday sharply questioned the United States’ trade relationship with Canada just minutes before he was scheduled to meet Canadian Prime Minister Mark Carney at the White House.Trump said on Truth Social that he was looking forward to meeting and working with Carney, but that he “cannot understand” why the U.S. is “subsidizing Canada by $200 Billion Dollars a year, in addition to giving them FREE Military Protection, and many other things?”Trump has long complained about U.S. trade deficits with its trading partners, and he has previously lobbed similar claims against Canada. A Trump official told CNN…
The newly elected Federal Chancellor Friedrich Merz (center, CDU) accepts the election in the Bundestag. Sitting next to him are Jens Spahn (l, CDU), leader of the CDU/CSU parliamentary group, and Alexander Dobrindt (r, CSU), designated Federal Minister of the Interior. Michael Kappeler | Picture Alliance | Getty ImagesFriedrich Merz was elected as Germany’s chancellor in a second-round parliamentary vote on Tuesday, after failing to secure the necessary support earlier in the day.Merz needed at least 316 of the 630 members of parliament to vote in his favor. He received 325 votes.In the previous vote, only 310 Bundestag members voted…
