headlines...by halloapp (2024)

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• Major tech players like Amazon,OpenAI,Microsoft, and Meta are developing their own AIchips to reduce reliance on Nvidia. Nvidia is also developing Arm-based chips to challenge Intel and Apple’s dominance in the market. Apple plans to invest billions in AI chips from Nvidia to catch up in AI technology.

• Private-equity firm VistaEquityPartners is set to acquire EngageSmart for $4 billion, while Walgreens stock is upgraded by J.P. Morgan.

• CadenceDesignSystems reported strong Q3 earnings, beating estimates, with revenues of $1.02 billion, driven by trends like AI and autonomous driving.

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• China is investigating Foxconn,Apple’smajoriPhonemanufacturer, for tax and land use violations, possibly due to its founder’s political ambitions in Taiwan.

• Microsoft is planning to invest $3.16 billion in Australia over the next two years to expand its cloudcomputing and AIinfrastructure, enhance cybersecurity, and provide skills training. The investment includes increasing the number of datacenters, collaborating with the Australian Signals Directorate, and launching a Datacentre Academy. The move aims to meet the growing demand for cloud computing and AI in the country.

• Logitech’s shares surged 11% as Q2 earnings beat estimates and the company raised its full-year guidance. Redfin’s stock jumped 12% on a $250 million financing deal with Apollo.

• PresidentBiden has designated 31 techhubs across the US, including Oregon, to receive federal funding for innovation and jobcreation in various industries.

• Tinder introduces Matchmaker feature, allowing users to invite friends and family to suggest potential matches within the app.

• AgilysysInc reports record Q2 revenue of $58.6 million, beating estimates, driven by strong sales success in various verticals.

• The opensourceinteroperability standard, Matter1.2, expands compatibility to include air quality sensors, robot vacuums, and household appliances.

• GoogleMaps and Waze have disabled livetraffic updates in IsraelandGaza at the request of the Israelimilitary amid ongoing conflict.

• AI is set to transform businesses, reducing costs and increasing efficiency, but human oversight and collaboration are crucial. Challenges include skills gaps and job displacement fears. AI can revolutionize commercial realestateinvesting, but humanexpertise and data validation are necessary for success.

• Techexecutives are urged to implement generativeAIstrategies that align with businessneeds and objectives, ensuring trustworthy data and thoughtful design. Generative AI can improve communication, automate tasks, and drive innovation for smallbusinesses.

• FortiveCorp. is acquiring EAElektro-AutomatikHoldingGmbH for $1.45 billion, strengthening its position in the electronic test and measurement market.

• Chineseretailers are offering discounts of up to $205 on the iPhone15 ahead of the SinglesDayshoppingfestival.

• Spotify reports Q3 profit of €65 million, exceeding expectations, with increased subscribers and revenues, but stock drops in premarket trading.

• RelianceIndustries is close to acquiring Disney’sIndiaoperations in a cash and stock deal valued at around $10 billion.

• Byju’s CFO Ajay Goel has resigned after six months, while Vedanta’s CFO Sonal Shrivastava has also resigned amid restructuring.

• NewZealand and SouthAfrica’s veteran rugbyplayers lead their teams to the WorldCupfinal. Both teams aim for a record fourth title.

• The GrévinMuseum in Paris will update its controversial wax figure of DwayneJohnson due to criticism of its skin color.

• TaylorSwift’s song ”CruelSummer” from her album ’Lover’ reaches No. 1 on the Billboard Hot 100 chart after four years, tying her with JanetJackson.

• WPP-ownedGroupM fires executive in China detained for bribery, as Chinese authorities arrest three individuals linked to GroupM.

• Afghanistan’scricketteam celebrates their historic eight-wicket victory over Pakistan in the WorldCup, inspiring future players and impacting Afghan cricket.

• PENNEntertainmentInc. shares rise 1.91% with above-average trading volume. PulteGroup’s Q3 profit exceeds expectations, driven by strong demand and higher home prices.

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• DAZN and SkyItalia have won the bid for SerieA’sdomesticbroadcastrights, agreeing to a deal worth €4.5 billion ($4.77 billion) for the next five seasons in Italy.

• Kering’s Q3 sales expected to slow as luxury fashion demand decreases, while Hermès reports strong Q3 sales surpassing expectations. Orange exceeds expectations with Q3 core operating earnings.

• Puma’s shares rose 4.3% as the company expects to meet full-year targets and normalize inventory levels. Q3 operating profit beat estimates, driven by strong demand in Europe and China. Despite a drop in Q3 earnings due to currency effects, Puma maintains its full-year profit forecast, citing lower costs in Q4.

• HelloBello, the babycarebrand founded by Kristen Bell and Dax Shepard, has filed for bankruptcy due to various issues including supply chain and digital advertising.

• Aaron’sCompany,Inc. reported disappointing Q3 earnings with a loss of $4.1 million and a decrease in revenue by 11.4%.

• Templatesforbillsofsale are available in Missouri, New Mexico, Connecticut, and Georgia to protect buyers and sellers in transactions.

• KimKardashian’s brand Skims has launched Skims Mens, a menswear collection featuring athletes Neymar Jr, Nick Bosa, and Shai Gilgeous-Alexander.

• Sherwin-Williams raises profit forecast for Q3 due to price hikes offsetting lower sales volumes and high demand for paint.

• Prada may duallist on the Milanbourse to attract more investors, but mergers and acquisitions are not a priority.

• AcmeUnitedCorporation reports Q3 2023 sales increase by 1% to $50.4 million, with gross margins improving to 38.7%.

• SteveMadden has acquired AlmostFamous for $52 million in cash, expanding its presence in the fashion industry and boosting its apparel platform.

• DynexCapitalInc reports a comprehensive loss of $1.59 per share in Q3, raising concerns about sustainability. Shares fell 2.6%.

• KKRRealEstateFinance (KREF) surpasses Q3 earnings and revenue expectations, reporting $0.47 per share earnings and $44.61 million in revenue.

• AnnalyCapitalManagement is expected to report declines in earnings but an increase in net interest income for Q3 2023. AGNCInvestment’s tangible net book value per share fell in Q3, causing a projected total comprehensive loss of $1.02 per share. HercHoldings will explore strategic alternatives for its Cinelease business. Redfin secured a financing deal with Apollo Capital Management worth up to $250 million. Shares of AGNCInvestment fell 10% after the company reported a drop in the value of its portfolio, with a tangible net book value per share of $6.80 to $7. AGNC Investment Corp. expects its Q3 earnings to decline from Q2, with net spread and dollar roll income estimated at $0

• GoldmanSachs and MorganStanley both predict highmortgagerates in 2024, leading to low existinghomesales and moderate pricegrowth.

• Mortgageaffordability is at its lowest in over two decades as 30-yearmortgagerates hover near 8%, causing a declineinexisting-homesales. However, experts predict a potential rate cut in 2024, allowing rates to fall. The average 30-year fixed mortgage rate last week was 7.63%. Refinancerates for 30-year, 15-year, and 20-year mortgages average 8.29%, 7.40%, and 8.18% respectively.

• Erin Duggan, the new CEO of VisitSarasotaCounty, shares plans to attract tourists and residents in her upcoming role.

• The article recommends 12 travelaccessories, such as a tech kit and noise-cancelling earbuds, to improve your travel experience.

• Budapest is focusing on tourismandinfrastructuredevelopment to rebound from the pandemic and attract affluent tourists.

• Globalmarkets are closely watching the rise in USbenchmarkborrowingrates, with the 10-yearTreasuryyield surpassing 5% for the first time in 16 years. This milestone has prompted concerns about higherinterestrates and their potential impact on the economy.

• Lowe’s stock fell 1.11% on Monday, underperforming Amazon,HomeDepot, and Walmart.OmnicomGroupInc. stock rose 2.22% on a rough trading day, outperforming competitors. ParamountGlobal Cl B stock fell 2.70%, while Apple,Amazon,andNetflix saw gains. FoxCorp.ClA stock fell 0.39%, while Apple, Amazon, and Netflix saw gains. MicrosoftCorp. stock rose 0.81%, outperforming Apple, AlphabetClC, and AlphabetClA. Apple gained 0.07%, outperforming the S&P500’s loss of 0.17%. Berkshire Hathaway Inc. Cl B stock rose 0.

• HuntingtonBancshares beats Q3 earnings expectations, SierraBancorp and BankofMarinBancorp also report solid Q3 results. RBBBancorp exceeds Wall Street estimates.

• Argentina’spresidentialelection resulted in a runoff between Sergio Massa and Javier Milei, with Massa leading in the first round.

• NineRepublicancandidates are vying for the position of HouseSpeaker, causing a standstill in the chamber and delaying Biden’saidpackage.

• Barclays beats Q3 profit estimates, updates 2023 guidance; shares fall due to potential charges and lower net interest margin guidance.

• Bill Gross predicts a USrecession by the end of 2019, while BillAckman covers his short position on bonds due to geopoliticalrisks and a changing economic landscape.

• Investors concerned about MBB’s decreasing ROCE, while Magni-TechIndustries reinvests in growth. KeckSeng’s ROCE increased by 160%. FoodEmpire’s ROCE outpaces industry average. CensofHoldings shows improving efficiency and potential growth. MidwichGroup’s ROCE falls despite increased revenue. AccsysTechnologies underperforms industry average. RelianceSteel&Aluminum exceeds industry average with 21% ROCE. ZehnderGroup shows promising growth potential with an 86% increase in ROCE. AltiusMinerals generates higher returns with positive ROCE trend.

• UniCredit plans to begin a €2.5 billion share buyback pending ECB approval, while also acquiring a 9% stake in AlphaBank and its Romanian unit. The bank reported higher-than-expected Q3 earnings and raised its revenue goals for 2023.

• Icelandicwomen, including the primeminister, went on a 24-hour strike to protest genderinequality, including pay gaps and violence.

• Bitcoin breaks key pivot at $31-32k, surges past $35k, reaching its highest price since May 2022 amid optimism for a BitcoinETFapproval.

• FTX co-founder SamBankman-Fried’sfraudtrial continues, with uncertainty about whether he will testify and potential impact on the trial’s outcome.

• Blockchaintechnology is transparent, trustless, and can be used to tracksupplychains, apprehend criminals, and combatillicitactivities in decentralizedfinance.

• Novartis raises 2023 earnings forecast for the third time, citing cost cuts and higher prices for multiple sclerosis drug Kesimpta.

• Roche acquires Telavant, a subsidiary of RoivantSciences, for $7.1 billion, gaining rights to develop a boweldiseasetreatment.

• AMETEK,Iofina,AbbottLaboratories, and AstraZeneca have seen stock declines, while ICFInternational’s stock has increased.