Close-up of Databricks company logo on building facade, Rincon Hill, San Francisco, June 7, 2024.Smith Collection/ gado | Archive Photos | Getty ImagesDatabricks, one of the most valuable privately held companies, announced a $10 billion financing on Tuesday that values the software maker at $62 billion. With the money, Databricks will be able to provide liquidity to current and former employees, make acquisitions, and expand overseas, according to a statement. The company’s new valuation is up from $43 billion in 2023. Rival Snowflake was worth about $57 billion at Monday’s close.Databricks sells software for analyzing and cleaning up data, and it…
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U.S. President Joe Biden delivers remarks on protecting consumers from hidden junk fees during an event at the South Court Auditorium at Eisenhower Executive Office Building on June 15, 2023 in Washington, DC.Alex Wong | Getty ImagesThe U.S. Federal Trade Commission passed a rule on Tuesday requiring ticket sellers, hotels and vacation rental sites to disclose total prices, including fees upfront, prohibiting them from concealing add-on charges until the last minute.The rule is one of the final pieces of President Joe Biden’s wide-ranging crackdown on junk fees that drive up consumer costs without providing visible benefits.”We all know the experience…
Laylabird | E+ | Getty ImagesA popular retirement strategy known as the 4% rule may need some recalibration for 2025 based on market conditions, according to new research.The 4% rule helps retirees determine how much money they can withdraw annually from their accounts and be relatively confident they won’t run out of money over a 30-year retirement period.According to the strategy, retirees tap 4% of their nest egg the first year. For future withdrawals, they adjust the previous year’s dollar figure upward for inflation.But that “safe” withdrawal rate declined to 3.7% in 2025, from 4% in 2024, due to long-term…
Tesla has more room to run under new presidential administration, according to the Mizuho. Analyst Vijay Rakesh upgraded the electric vehicle maker to outperform, and after staying on the sidelines, he also lifted his price target by $285 to $515. That implies 11.2% upside from Monday’s close. “We see idiosyncratic tailwinds over the next ~4Y positioning it favorably,” Rakesh said in a note to clients. Tesla shares have been on a tear since Donald Trump’s election win largely due to CEO Elon Musk’s close advisory relationship with the incoming president. In that time, the stock is up 84%. The stock…
Check out the companies making headlines in premarket trading. Pfizer — The drugmaker’s stock climbed more than 2% in premarket trading after the company released 2025 forecast that met Wall Street expectations . Pfizer said it expects revenue between $61 billion and $64 billion next year, compared with a consensus estimate of $63.2 billion, per FactSet. Red Cat — The drone stock tumbled more than 14% after posting a loss of 18 cents per share for the fiscal second quarter, wider than the 11-cent loss seen in the same period a year prior. Red Cat has surged in recent days after mysterious…
A general view of cocoa pods on a tree, in Ebebda, on November 30, 2024 . Cocoa is one of Cameroon’s key export products.Daniel Beloumou Olomo | Afp | Getty ImagesThe price of chocolate’s key ingredient has skyrocketed this year, prompting analysts to issue fresh warnings about extreme price volatility.Cocoa futures for March delivery in New York traded 1% higher at $11,938 per metric ton at around 7:10 a.m. ET on Tuesday, notching yet another record high.The benchmark contract, which hit an all-time intraday high of $11,925 in the previous session, is up over 180% year-to-date.It comes amid renewed concerns…
Pfizer CEO Albert Bourla speaks during a press conference after a visit to oversee the production of the Pfizer-BioNtech Covid-19 vaccine at the Pfizer factory in Puurs, Belgium, April 23, 2021.John Thys | ReutersDrugmaker Pfizer on Tuesday said it expects its 2025 profits to be nearly in line with Wall Street expectations as it seeks to fend off criticism over its turnaround strategy from activist hedge fund Starboard Value.Shares of the company rose nearly 3% in premarket trading.The company expects adjusted profit of $2.80 to $3 per share, compared with analysts’ average estimate of $2.88 per share, according to data…
SolarEdge Technologies is in the early stages of making a strong recovery, according to Goldman Sachs. Analyst Brian Lee double upgraded the clean energy stock to buy from sell and increased its 12-month price target to $19 from $10, which suggests around 54% upside from Monday’s close. “We see the makings of a turnaround story that is one of the more idiosyncratic and out-of-consensus buy opportunities in our coverage,” Lee said in a note. “We anticipate 2025 to be a key inflection point and, while 1H25 may still be volatile, we view most concerns as already priced into the equity.”…
Growth in Hims & Hers Health is showing no signs of stopping, according to Morgan Stanley. Analyst Craig Hettenbach initiated the telehealth company with an overweight rating and $42 price target. That suggests 53.6% potential upside for the stock, which has already soared a whopping 251% this year on continued enthusiasm over its mental health, weight loss and dermatology treatments. “HIMS is well-positioned to capitalize on growing demand across multiple segments for personalized medication,” the analyst said in a Tuesday note to clients. “Valuation is also attractive, especially on a growth adjusted basis.” Hettenbach called the stock a “compounding machine”…
On Dec. 9, OpenAI made its artificial intelligence video generation model Sora publicly available in the U.S. and other countries.Cfoto | Future Publishing | Getty ImagesThe U.K. is drawing up measures to regulate the use of copyrighted content by tech companies to train their artificial intelligence models.The British government on Tuesday kicked off a consultation which aims to increase clarity for both the creative industries and AI developers when it comes to both how intellectual property is obtained and then used by AI firms for training purposes.Some artists and publishers are unhappy with the way their content is being scraped…
