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Renaissance Technologies pared its Tesla and Nvidia bets and raised its GameStop wager last quarter.The quant fund founded by the late Jim Simons cut its Tesla stake by 86% and halved its Nvidia wager.RenTech boosted its GameStop position by more than 40% to 1.9 million shares. Renaissance Technologies cut its…
By Savyata Mishra (Reuters) -Home Depot forecast a smaller drop in annual same-store sales on Tuesday, benefiting from resilient demand from professional contractors, as well as a lift from hurricane-related spending in the current quarter. The top U.S. home improvement chain also posted better-than-anticipated third-quarter results, a stark contrast from…
By Michael Erman (Reuters) – Merck & Co posted higher-than-expected third-quarter earnings on Thursday on strong sales of its blockbuster cancer treatment Keytruda, but the U.S. drugmaker also flagged a second straight quarter of weak demand for its Gardasil vaccine in China. Gardasil, which prevents cancers caused by the human…
By Deborah Mary Sophia, Aditya Soni and Anna Tong (Reuters) -Microsoft predicted increased spending on artificial intelligence this quarter but slower growth in its cloud business Azure, signaling that big AI investments were not enough to keep pace with capacity constraints at its data centers. Shares of the Redmond, Washington-based…
Netflix added over 5 million subscribers in the third quarter, beating analyst expectations.At 19%, Asia Pacific had the largest revenue growth rate of all regions this quarter.Local content strategy and investment in original content is boosting Netflix’s competitive edge. Netflix showed investors once again that it is the king of…
Saratoga Investment Corp (NYSE: NYSE:), a provider of financial services to middle-market companies, reported robust financial results for its fiscal second quarter ending August 31, 2024. The company announced an annualized dividend of $0.74 per share, reflecting a yield of 12.7% based on the current stock price. Adjusted net investment…
Investing.com — Deutsche Bank reports that low-cost airlines plan to reduce their system capacity by about 3% in the upcoming December quarter. Recent schedule changes indicate this shift in airline operations.As per analysts at Deutsche Bank, Spirit Airlines (NYSE:), a major player in the low fare carrier segment, has taken…
A look at the day ahead in U.S. and global markets from Mike Dolan The U.S. economy is doing just fine and markets now accept a quarter-point rate cut from the Federal Reserve next month will be enough to get the easing cycle going as disinflation resumes. That was the…
Gen Z’s favorite language-learning app is on a streak of its own.Duolingo just posted its fifth straight profitable quarter. It posted a net income of $24.4 million, an over 500% increase compared to the same period last year. Daily active users, one of the company’s most important metrics, grew 59%,…
By Ron Bousso LONDON (Reuters) -Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts’ forecasts. The results were lifted by strong performances in the oil and gas production and retail…
