Author: starbpo

Even though Micron Technology Inc.’s most recent earnings report caused a lot of excitement, investors weren’t happy with the company’s forecast for flat revenue for the current quarter. Micron stock (MU, -7.12%) is down 7.4% as of noon Thursday, even though the company’s latest quarterly results were better than expected and showed how demand for artificial intelligence is boosting its business. The stock is likely to drop more than 7.5% in one day, which would be the biggest drop since September 13, 2022. Even so, Micron bulls had reason to be happy when they saw how high-bandwidth memory, a technology…

Ciara Duggan, a recent graduate, was shocked to learn that the Philadelphia school had been having trouble when the University of the Arts shut down in early June. The man said, “Everything looked really good.” She also said that students didn’t see many signs of money problems besides the sale of a dorm building in December 2022. Then the Philadelphia Inquirer reported that UArts would be closing in just one week. Higher Ed Dive says that 15 nonprofit colleges have already said they are closing, merging, or buying other schools this year. UArts is one of them. As many as…

There will definitely be a big winner in Thursday’s much-anticipated presidential debate, no matter how Joe Biden and Donald Trump do. The bar near you. Bars and clubs all over the country are getting ready for big crowds, and some are even offering specials and cocktails that are related to the debate. Soho Cigar Bar, a popular downtown New York City spot, has a cigar and cocktail combo with a Biden theme called “The Gentleman” and a Trump theme called “Last Call.” People who go to the craft beer bar Old Town Pour House in Chicago will be able to…

Hey there! Investors haven’t been interested in thematic funds so far this year, even though a lot of them are invested in popular tech stocks. This week’s ETF Wrap talks about why. According to Strategas, the best days for thematic exchange-traded funds may have already passed. Smaller ETFs are especially likely to shut down. “There’s just too much product chasing too few dollars,” wrote Todd Sohn, an ETF strategist at Strategas, in a note this week. Many of the themes may now be holdovers from the time of quantitative easing (QE), when high beta growth companies did very well and…

DECEMBER—The country’s treasurer gave ANZ Group Holdings the go-ahead to buy Suncorp Bank, which would be the biggest acquisition in Australian banking in decades. The 4.9 billion Australian dollar (US$3.26 billion) deal was announced in July 2022, and Treasurer Jim Chalmers gave his approval as long as the new company didn’t close any regional branches or lose any jobs for three years. As an added bonus, Suncorp, an ASX-listed insurance company, said it would not charge ANZ the A$10 million annual licensing fee that it had agreed to pay for five years. It said it still planned to give the…

After the market closed on Thursday, Infinera’s shares went up 19% to $6.29. This was because Nokia agreed to pay $2.3 billion to buy the company. At the end of the regular trading day, the stock was worth $5.26, up 1.5%. Infinera’s shares were worth $6.65 each after the deal. Nokia, based in Finland, makes 5G cell antennas and other telecom infrastructure. The company said that combining with Infinera, a networking solutions provider, will speed up its path to optical networks business operating margins in the double digits. After business hours on Thursday, shares of Elicio Therapeutics fell after the…

After business hours on Thursday, shares of Elicio Therapeutics fell after the clinical-stage biotechnology company announced an upcoming public offering and data from a study on cancer treatment. At $4.94, shares were down 28%. At the end of the regular session, they were 6.9% higher at $6.89. Elicio, a company that makes treatments for cancer, said it started an underwritten public offering of its common stock and common warrants that go with it. The company also shared early results from a study of ELI-002 7P, an investigational therapeutic cancer vaccine candidate. As of May 24, the data cutoff date, patients…

Keith Gill, an important trader who goes by the name “Roaring Kitty,” posted a picture of a dog on social media on Thursday. It was the latest in a series of mysterious posts on X. It was Gill’s first post on X since June 17, when he shared a picture from the Walt Disney Co. DIS, -0.01% animated movie “Encanto.” The post has been seen 2.5 million times. When Gill went back on social media last month, shares of GameStop Corp. GME, +3.68%, the company that made the original meme, went through the roof. The stock went up again after…

Nike Inc. shares dropped after hours on Thursday after the company reported quarterly sales that were lower than what Wall Street had expected. The company said the results “highlighted challenges” that caused it to change its outlook for the coming fiscal year. The company’s earnings report didn’t say anything else about that prediction. But Nike NKE, +0.14% has had trouble with customers who are less willing to spend after two years of paying more elsewhere. In a release on Thursday, Chief Financial Officer Matthew Friend said, “We are taking steps to reposition Nike to be more competitive and to drive…

Will the huge amounts of money being spent on AI really help internet companies make more money, or are those big spenders getting ahead of themselves? Ross Sandler, an analyst at Barclays, said Tuesday that this is a very important question for investors right now. He said that the math doesn’t seem to add up. Wall Street thinks that AI will cost about $60 billion more than planned, but it will only bring in $20 billion more in cloud revenue in 2026. This is one of the biggest debates in the investment community right now: will all the AI capital…