For the first time in memory, Google’s search dominance is facing a legitimate threat. Let’s see what that means. In a news item that almost seems like science fiction, Alphabet (GOOGL) lost over $100 billion in market capitalization on Wednesday due to a technical error. The stock fell 8% when the company’s new AI chatbot,…
Oil prices have cooled down in recent months, but Goldman Sachs sees a major rebound on the horizon. Speaking on the sidelines of a conference in Saudi Arabia, Goldman’s global head of commodities research Jeff Currie predicts that oil prices could climb back above $100 a barrel this year. The analyst sees rising demand for…
Tesla TSLA +2.28% stock just won’t stop going up. Shareholders should feel happy, but they should keep asking themselves what comes next. Shares are up 2.3% at $201.35 in midday trading Wednesday. The S&P 500SPX –1.11% and Nasdaq CompositeCOMP –1.68% are down 0.9% and 1.6%, respectively. Tesla stock is now up 63% year to date,…
The age of generative AI is upon us, and this week alone Google and Microsoft made major announcements around their respective products for the masses. While Google unveiled an “experimental conversational AI service” called Bard, Microsoft had a fuller slate of news to share at its event in Redmond, WA yesterday. Through a partnership with…
Netflix and chill (out), password sharers. After intense backlash surrounding what appeared to be the first signs of the company’s upcoming password sharing crackdown, Netflix (NFLX) clarified no official announcements have been made outside of the current test countries. “For a brief time last Tuesday, a help center article containing information that is only applicable…
Mergers and acquisitions may be exiting their recent slump with multiple takeover deals suddenly making news. Public Storage (PSA) made an $11 billion bid for Life Storage (LSI) on Sunday. Also Sunday, gold miner Newmont (NEM) offered $16.9 billion for smaller competitor Newcrest Mining (NCMGY). Meanwhile, shares of drug components supplier Catalent (CTLT) spiked 19.5%…
Binance, the world’s largest cryptocurrency exchange, said it’s temporarily suspending deposits and withdrawals of US dollars using bank accounts, and will work to restart the service soon. The suspension will start Wednesday, according to a Binance spokesperson. No specific reason was given for the suspension. Bank transfers using other fiat currencies, such as euros, are…
These stocks will generate steady earnings and pay out dividends for decades to come. Inflation rocked the U.S. economy in 2022. Rising prices across the board led to higher costs for consumer products. But one company’s cost is another’s revenue, and in the cases of rising commodity, energy, and agricultural prices, plenty of sectors benefited…
More than half of the institutional traders surveyed by global financial services giant JP Morgan said that artificial intelligence and machine learning will be the most influential technology in shaping the future of trading over the next three years—cited four times more often than blockchain and distributed ledger technology. JP Morgan’s e-Trading Edit report is…
Apple (AAPL) CEO Tim Cook and his righthand CFO Luca Maestri channeled their inner Wall Street economist on the tech giant’s earnings call late Thursday, and investors aren’t liking it. Shares of Apple — which had reverted to slightly positive in after-hours trading on upbeat China demand comments on the earnings call — fell more…