Author: Benzinga Neuro
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Super Micro Computer Is Up 30% In Tuesday Pre-Market: What’s Going On?
in MarketsIn a significant pre-market move, Super Micro Computer Inc. (NASDAQ:SMCI) is experiencing a notable surge in its stock price. This comes after the company announced strategic changes aimed at addressing compliance issues. What Happened: SMCI saw its stock rise by 30.59% following the announcement, as per Benzinga Pro, of a new auditor appointment and a…
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Jim Cramer Says These 10 ‘Frothy’ Stocks Are Up Over 200% YTD, Including Rocket Lab, Palantir, And Carvana: Here’s What He Suggests Investors Can Do For ‘Terrific’ Long-Term Returns
in MarketsJim Cramer, the host of CNBC’s “Mad Money,” recently reviewed ten stocks that have seen significant growth in 2024, suggesting that they are smart investments, although they are also highly speculative. What Happened: Cramer, on Wednesday, highlighted ten stocks, each valued at over $1 billion, that have experienced substantial growth this year, reported CNBC. He…
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Nvidia Faces Antitrust Probe Over Market Dominance As DOJ, FTC Crack Down On AI Powerhouses: Report
in MarketsU.S. antitrust authorities have reportedly initiated an early-stage investigation into NVIDIA Corp. (NASDAQ:NVDA) over its potential dominance in the artificial intelligence chip market. What Happened: The Justice Department’s antitrust division has contacted Nvidia to inquire about its contracts and partnerships, The Wall Street Journal reported on Sunday, citing people familiar with the matter. The investigation…
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Tech Analyst Raises Red Flags Over Nvidia’s Heavy Dependence On Just Four Customers For Q2 Revenue: ‘Highly Unusual For A Company’
in MarketsNvidia Corp. (NASDAQ:NVDA) reported $30 billion in revenue for the second quarter, with nearly half coming reportedly from just four customers. What Happened: According to an SEC filing, these four clients accounted for 46% of the Jensen Huang-led chip giant’s total second-quarter revenue, approximately $13.8 billion. The identities of these customers remain undisclosed, as there…
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JPMorgan Attracts Over $15B In Tax Strategy Business From Wealthy Clients As It Looks To Catch Up To Rivals: Report
in MarketsJPMorgan Chase & Co. (NYSE:JPM) has successfully drawn in more than $15 billion in assets from affluent clients for its budding tax strategy business. This development comes as the bank seeks to expand its market share and compete with rivals like Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS). What Happened: Over the past…
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Novo Nordisk Surges Nearly 3% After Weight Loss Drug Wegovy Wins Approval in China
in MarketsNovo Nordisk‘s (NYSE:NVO) weight loss drug Wegovy has received approval in China, representing a notable achievement for the Danish pharmaceutical firm. In response to this announcement, the company’s U.S.-listed stock is experiencing a surge of over 2% in pre-market trading on Tuesday. What Happened: The Chinese National Medical Products Administration has given the green light…
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Airbus Shares Tank Over 10% As Company Slashes 2024 Targets Due To Supply Chain Woes
in MarketsEuropean aerospace giant Airbus (OTC:EADSY) witnessed a significant drop in its shares on Tuesday following the company’s announcement of a downward revision of its 2024 targets. The company attributed the revision to supply chain challenges and additional costs in its space systems division. What Happened: Airbus’ shares fell by over 10% on Tuesday, with the…
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Larry Summers Slams Fed’s ‘Excessive Optimism’ On Inflation And Underestimation Of Long-Term Interest Rates, Says The Central Bank ‘Is Badly Wrong…’
in MarketsFormer U.S. Treasury Secretary Larry Summers has criticized the Federal Reserve’s optimistic stance on inflation, warning that the central bank is underestimating the long-term interest rates necessary to curb inflation. What Happened: Summers, speaking at an event organized by the Council on Foreign Relations in Washington on Monday, dismissed the recent data indicating a slowdown…
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Arm Holdings CEO Rene Haas Says Experts Underestimated The Rapid Growth Of AI: ‘The Analysts Maybe Didn’t Quite Understand…’
in MarketsSoftBank Group subsidiary Arm Holdings (NASDAQ:ARM) CEO Rene Haas believes that analysts have underestimated the pace at which artificial intelligence is advancing. What Happened: Haas made these comments during an interview with Yahoo Finance’s Market Domination Overtime on Monday. He pointed out that AI will significantly change people’s lives and that 70% of the world’s…
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Netflix Alters ‘Keeper Test’ In Corporate Culture Memo: Managers Now Ask ‘Would I Fight To Keep Them?’
in MarketsNetflix Inc. (NASDAQ:NFLX) has updated its famous “keeper test” in its culture memo, a tool used to identify and remove underperforming employees. What Happened: The “keeper test” is a method used by Netflix managers to determine whether they would fight to retain an employee. If the answer is no, the employee is let go. This…