U.S. President Donald Trump hosts his first cabinet meeting with Elon Musk in attendance, Washington, D.C., U.S., February 26, 2025. Brian Snyder | ReutersPresident Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date.The sweeping 25% tariffs on imports from Mexico and Canada had been paused on Feb. 3 for one month, but the Trump administration had recently sown confusion about whether they would go back into effect when the delays expired.This is breaking news. Please refresh…
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Amazon on Thursday revealed its first chip for quantum computing, and said the design is a step toward building efficient high-scale systems.The processor is called Ocelot, and the announcement comes as more tech companies tout their advancements in quantum. Last week, Amazon cloud rival Microsoft showed off its inaugural quantum chip. Microsoft had a paper in the journal Nature documenting its quantum work, and this week Amazon followed suit.Some technologists hope quantum computers will be capable of solving problems that stump classical computers. PCs and phones run calculations and store data with bits that are either on or off, while…
The Trump administration said in a court filing Wednesday it cannot comply with a federal judge’s order to release foreign aid funding by midnight, despite being directed to do so almost two weeks ago.Lawyers for the Justice Department made the claim in papers filed to a federal appeals court seeking a stay of the lower court’s ruling. The filing said that if the D.C. U.S. Circuit Court of Appeals doesn’t pause the order, the government won’t be able to make the deadline because it will take “weeks” to free up the money it owes.”[R]egardless whether this Court stays the district court’s order, agency…
Market volatility appears to be boosting demand for two types of exchange-traded funds: leveraged and inverse.And, Direxion CEO and ETF money manager Douglas Yones thinks market conditions will keep fueling demand for them.”We have a lot of securities in the market that are … up a lot over the last five or 10 years. Market seemingly has been going sideways. We saw Friday’s correction,” he told CNBC’s “ETF Edge” this week. “There are people out there that are saying: ‘Hey, maybe I don’t want to be fully invested,’ but also don’t want to take the capital gain on selling a…
Pavlo Gonchar | SOPA Images | Lightrocket | Getty ImagesSnowflake forecast fiscal 2026 product revenue above analysts’ estimates on Wednesday as the data analytics provider sees rising cloud service growth amid advancements in artificial intelligence, sending its shares up 11% in extended trading.The company also said it has integrated OpenAI’s models directly in Snowflake Cortex AI, its fully managed AI service.Snowflake’s data cloud has been seeing strong adoption from firms looking to use AI-powered services to organize swathes of data.The company said on Wednesday that Chief Financial Officer Michael Scarpelli will retire. He will remain in his role until a…
Looming tariffs on Mexican imports could pressure shares of Constellation Brands , according to Morgan Stanley. The bank downgraded the Modelo and Corona beer U.S. importer to equal weight from overweight. Analyst Dara Mohsenian also lowered his price target to $202 from $220, although this revised forecast still represents a 13% upside. Shares of Constellation Brands have tumbled 28% in the past 12 months. Mohsenian wrote that while the stock valuation is already “compressed” — down 20% this year after weaker -than-expected fiscal fourth-quarter guidance — there’s now further risk to both the current quarter and longer term. STZ 1Y…
A sign outside of the Warner Brothers Discovery Techwood Turner Broadcasting campus is seen on June 26, 2024 in Atlanta, Georgia.Kevin Dietsch | Getty ImagesWarner Bros. Discovery said Thursday it added 6.4 million global streaming subscribers in the fourth quarter for a total of 116.9 million subscribers.Fourth-quarter revenue for the streaming segment, which is anchored by flagship service Max, totaled $2.65 billion, up 5% from $2.53 billion in the same quarter last year. Adjusted earnings before interest, taxes, depreciation and amortization for the unit came in at $409 million, compared to an adjusted EBITDA loss of $55 million in the…
Andrew Tate and his brother Tristan Tate, the British American online influencers who have been held in Romania for two years over criminal investigations, left the country for the United States, Joseph McBride, their lawyer in the United States, said on Thursday.The brothers boarded a private jet in Romania at around 10 p.m. on Wednesday, and were expected to land at an airport in southern Florida sometime Thursday morning, Mr. McBride said.In response to questions about the brothers, Romanian prosecutors said in a news release that they were still pursuing criminal investigations against two British American citizens. They did not…
The bar for Nvidia earnings was set high, and analysts feel like the chipmaker cleared it. In fiscal fourth quarter, the graphic processing unit designer earned an adjusted 89 cents per share on $39.33 billion in revenue. That exceeds the 84 cents per shares and revenue of $38.05 billion that analysts polled by LSEG had penciled in. But the company’s April gross margin guidance for 71% came slightly below Wall Street consensus. That may be the cause for the stock’s subdued post-earnings reaction. Shares were up 1% in the premarket. Overall, most analysts maintained their bullish stance on Nvidia, with…
Shares of Goldman Sachs look too expensive at the moment, according to Keefe, Bruyette & Woods. Analyst David Konrad downgraded shares of the investment bank to market perform from outperform. He accompanied the change by lowering his target price on shares to $660 from $690. Goldman Sachs stock surged 58% in the last 12 months, resulting in an “elevated valuation” and more balanced risk/reward, the analyst wrote. To be sure, the stock trades at 13 times forward earnings, well below the S & P 500’s 22 multiple. Konrad’s updated price forecast is still 7% above where shares closed on Wednesday.…
