Author: starbpo

Because of its great first-quarter results, Nvidia is now worth more than all of Germany’s publicly traded companies put together. FactSet says that as of Wednesday, companies with main listings in Germany are worth a total of €2.315 trillion, or $2.51 trillion. Nvidia’s stock price, NVDA, rose 8.37% in early trading, putting its value at $2.6 trillion. FactSet says that German companies, ranging from A.S. Creation Tapeten ACWN to Zooplus ZO1 and including BMW BMW, -0.17%, SAP SAP, 0.79%, and Volkswagen VOW3, -0.13%, made €121.56 billion on sales of €2.96 trillion last year. Along with its better-than-expected fiscal first quarter,…

Alibaba Group Holding Ltd. BABA, -0.56% shares in the U.S. went up 0.1% in morning trading on Friday after the Chinese e-commerce giant said it would sell $4.5 billion in convertible debt to help pay for taking back shares. This week, the stock was still down 6.5%, which would be the worst week for the stock in nine months. The company said that the money it got from selling convertible notes due 2031 would be used to buy back its American depositary shares and pay for other buybacks of shares. Qualified institutional investors will be able to buy the notes,…

On Wednesday, Norway, Ireland, and Spain said they would recognize a Palestinian state. This was a historic move that made Israel angry and made the Palestinians happy. Israel sent its ambassadors from Norway and Ireland back right away. The official award will be given on May 28. This is a step toward a long-held goal for the Palestinians. It happened while the world was outraged over the number of civilian deaths and the humanitarian crisis in the Gaza Strip after Israel’s offensive there. A flood of announcements came at once. Japan was the first country to say something. Their prime…

The Biden administration said Wednesday that $7.7 billion in student loans will be forgiven for more than 160,000 people. There are three types of borrowers who can get the help that was announced on Wednesday: public servants who have been paying on their loans for at least 10 years, borrowers who have been paying on their debt for more than 20 years, and borrowers who are in SAVE, the Biden administration’s repayment plan, and had relatively low initial balances. President Joe Biden said in a statement that the relief was a promise from the start of his administration to fight…

In one trading incident, Citigroup carried out $1.4 billion worth of sell orders when they only wanted to sell $58 million worth of shares. This is why British regulators fined the bank on Tuesday for not following trading controls. Citi C, -0.72% was fined £61.6 million ($78.4 million) by the Bank of England and the Financial Conduct Authority between 2018 and 2022 for problems with its trading systems and controls. The worst thing that happened was on May 2, 2022, which was a holiday in the UK. In its Delta 1 business, which works with institutional investors, corporations, and hedge…

Stock futures pointed to a lower start for Wall Street on Wednesday following another record high for the S&P 500 and as investors awaited Nvidia’s quarterly earnings report. These stocks were poised to make moves Wednesday: Nvidia slipped 0.6% in premarket trading ahead of its earnings report scheduled for after the stock market closes. Analysts project that sales jumped almost fourfold in the period to $24.6 billion, with earnings rising fivefold to $5.60 a share, driven by demand for the company’s artificial-intelligence chips. Shares of Nvidia closed at a record high Tuesday, rising 0.6% in the session to finish at…

Before the market opened on Wednesday, shares of Target Corp. TGT, -6.71% fell 7.7%, hitting a three-month low. This came after the discount retail giant reported a fiscal first-quarter profit that fell short of expectations due to weak sales of non-essential items. Net income dropped from $950 million, or $2.05 a share, in the same quarter last year to $942 million, or $2.03 a share, this year. That was less than the $2.06 earnings per share that FactSet thought would happen. Total sales went down 3.1% to $24.53 billion, which was just above the $24.52 billion average predicted by FactSet.…

European automakers’ stocks dropped on Wednesday after a business group in Brussels said the Chinese government might raise tariffs on cars made in Europe and the US. People close to the China Chamber of Commerce to the EU (CCCEU) told them in a letter to the press on Tuesday evening that “China may consider increasing temporary tariff rates on imported cars equipped with large-displacement engines.” Shares of car companies on the STOXX Europe 600 Automobile & Parts Index XX:SXAP fell 1.9% on Wednesday. So far this year, they have gained 4%. VW VOW, -0.79% stock fell 1% on Wednesday, while…

The stock of Trump Media & Technology Group didn’t change much early Wednesday. For now, the 17% drop over the last week has been put on hold. Before the market opened, shares were up 0.1% to $44.25. Tuesday, the company reported poor results for the first quarter, which caused the stock to drop 8.7%. Another piece of news about former President Donald Trump is that his campaign is now accepting Bitcoin and Ether as donations. It shows that the Republican campaign and the crypto industry are getting closer. The Truth Social media platform is run by DJT. A video shared…

Oaktree Capital said on Wednesday that it had bought well-known soccer club Inter Milan because the team had not paid back a loan. Oaktree said that Inter Milan did not pay back a €395 million ($428 million) loan that was due on Tuesday. “We want the Nerazzurri to be successful in the long term, and we think our goals for the Club are the same as those of its devoted fans in Italy and around the world.” “Our first priority is operational and financial stability,” said Alejandro Cano, who is co-head of Europe for Oaktree’s global opportunities strategy. Oaktree, a…