Author: starbpo

Fisker Inc. said on Friday that it is recalling 12,523 cars in North America and Europe because of a problem with the door handles on the outside. The EV company, which went bankrupt earlier this month, said the problem is with the door handles on Fisker Ocean cars from the 2023–2024 model years. The door handles “may get stuck because of a broken mechanism.” “This problem needs to be fixed right away to make sure that passengers are safe and can get into and out of the vehicle,” the company said in a statement. There are 8,204 recalled cars in…

Analysts have talked about Alphabet Inc.’s future in a world where AI becomes more common for the past year and a half. Alphabet’s stock GOOG, -0.75% GOOGL, -0.77% has so far calmed fears that Google’s core search business could lose money if people ask AI assistants (including Google’s own) their questions instead of using a regular search engine and clicking on links to other sites. Alphabet stock has grown by more than 100% since the beginning of 2023. Rosenblatt Securities analyst Barton Crockett, on the other hand, thinks that investors should now take a break. He lowered his rating on…

San Francisco Fed President Mary Daly said Friday that the Federal Reserve’s interest rate policy is bringing down inflation, but it might not happen as quickly as people would like. An interview with Daly on CNBC showed that it was hard to find a place where monetary policy wasn’t at work. “Inflation is going down, spending is going down, and growth is slowing down.” That’s how rules work. Even though it’s taking longer than we’d all like, she said, “that doesn’t mean it’s not working.” People who don’t like the way the Fed runs things would quote Daly backwards. They…

After big gains in finance, stocks on Canada’s biggest exchange didn’t change much because of weakness in the mining sector. The S&P/TSX Composite Index on the Toronto Stock Exchange was up 6 points at 21948.15 at noon on the last trading day of the month and the quarter. The index is on track to rise 1.8% this week, and its year-to-date rise has grown to 4.7%. At 1309.37, the S&P/TSX 60 was down 0.2 points. All of Canada’s big banks went up, with the Bank of Nova Scotia going up 1% and Laurentian Bank of Canada going up 2.1%. When…

Digital Realty Trust Inc.’s stock went up on Friday after JPMorgan Chase analysts raised their rating for the owners of data centers from neutral to outperform. They did this because they think demand for cloud and artificial intelligence (AI) will grow. The price of Digital Realty Trust DLR, 2.31% went up by 2.7% after Richard Choe, an analyst at JPMorgan Chase, raised his price target on the stock by $25 to $175 a share and changed his rating from neutral to buy. Choe said that since the company has free and planned capacity in northern Virginia and other places, its…

Pixar’s “Inside Out 2” is about to become the first movie to sell more than $1 billion in tickets. It will also be the first movie since “Barbie” to reach that goal. The Associated Press reported that the movie made $724.4 million in its first week and a half, making it the highest-grossing movie of 2024 and beating out “Dune: Part Two,” which had made $711.8 million the previous week. The huge success of “Inside Out 2” surprised Hollywood, which had grown used to lower hopes after seeing movie ticket sales drop about 40% below pre-pandemic levels this year. That…

It’s a good day for software stocks today because Micron Technology Inc., Nvidia Corp., and other chip stocks are losing steam. After Micron’s MU, -7.12% earnings report, the chip sector is down on Thursday because the company’s outlook did not live up to the hype. The company only expected to make as much money as expected because it doesn’t have enough products to meet the high demand. This is exactly what’s happening at Nvidia, which is also working as hard as it can to meet demand. However, its profits will likely depend on how much capacity it has reserved at…

When Arizona Iced Tea first came out in 1992, a 22-ounce can cost 99 cents. In 2024, it still costs the same. “We’ve been successful.” We have no more debt…Why do renters who are having a hard time have to pay more for our drinks? It could be my small way of giving back. That’s what Arizona Beverage Company CEO and founder Don Vultaggio said this week on NBC’s “Today Show” when asked why his company hasn’t raised the prices of its most popular teas from 99 cents. The U.S. has had high inflation for a number of years. Even…

Walgreens Boots Alliance Inc.’s stock WBA, -22.16% dropped 25% on Thursday after the drugstore chain’s fiscal third-quarter profit fell short of expectations and it raised its guidance again to reflect the fact that customers are stressed out after a period of high inflation. The last price of the stock was $12.19, which was the last time it was that high. It is down 40% so far this year, less than the roughly 15% gain seen in the S&P 500. Eighty million shares had changed hands by noon, which is 6.4 times the daily average over the last 65 days. Spreads…

It’s been a whole year since the Federal Reserve heard good news about inflation. On Friday, it looks like they will. This is what you need to know about the May PCE inflation report. It’s not going up as fast. The Fed’s favorite way to measure inflation in the U.S. is the PCE index, which is not expected to change in May. That would be the first time in six months that prices didn’t go up. A pair of inflation reports on consumer and wholesale prices earlier this month hinted at a positive PCE report. In May, both the consumer…