Author: starbpo

During the extended session on Wednesday, shares of Lucid Group Inc. fell 12% after the company that makes electric vehicles said it expected bigger-than-expected operations losses and slightly higher monthly sales than expected. Lucid LCID 0.31% told stock regulators on Wednesday that it thought its operating loss would be between $765 million and $790 million in the third quarter. What the analysts asked by FactSet think will happen is a loss of about $752 million. Lucid predicted sales of between $199 million and $200 million, while FactSet thought they would make $196 million. The EV maker said that as of…

One study says that Nvidia Corp. is the most important company to global markets, even though it’s not the biggest. Since Nvidia’s stock fell 4.7% on Tuesday, DataTrek Research looked at how much it affected the market. Nvidia makes up 6.84% of the S&P 500 SPX 0.46%, so the researchers think that Tuesday’s drop was responsible for 42% of the drop in the index. That fits with something the DataTrek team just recently said: Nvidia’s stock can go through big changes, even though the company’s market value has grown to $3.26 trillion, second only to Apple Inc.’s AAPL -0.98% $3.51…

‘I think it would be a mistake.’ The chief financial officer of the French luxury group LVMH MC -3.68%, Jean-Jacques Guiony, was responding to the idea that the company should lower the prices of its goods. During the company’s third-quarter earnings call, Guiony was asked if the recent 3% year-over-year drop in sales could be fixed by selling goods at lower prices to attract “aspirational buyers.” Aspirational buyers are people who want to own luxury brands’ products. “The offer in luxury has been the key strength over the years,” Guiony said, so the company shouldn’t have “affordable product.” He also…

Since she has worked in housing policy for 20 years, Priscilla Almodovar knows very well the problems the U.S. has with housing. The man from Brooklyn became head of the New York State Housing Finance Agency in 2007. This was during a financial crisis caused by the collapse of subprime mortgages. Buyers today have the opposite problem: they can’t get enough homes. There is such a strong demand for homes that prices keep going up, even though mortgage rates are still high and home insurance costs are skyrocketing. Almodovar, 57, is the CEO of Fannie Mae FNMA 1.54%, a government-backed…

A new poll by the National Parents Union, a group that fights for families on economic, educational, and environmental issues, shows that with three weeks to go until the election, parents who are registered to vote are pretty evenly split between Vice President Kamala Harris and former President Donald Trump. The poll, which was done earlier this month, found that 48% of parents whose kids were in kindergarten through 12th grade were leaning toward voting for Trump, 47% were leaning toward Harris, and 4% were not sure. “For the most part, it fits with the times and the way things…

For $100 million, telecom executive Issa Asad got money from a government program that gave low-income Americans cheaper phone and internet service. Federal officials say that Asad stole that money for almost ten years by giving fake customer information to Lifeline, a program run by the Federal Communications Commission that has a lot of problems with fraud. Police say that Asad, who is 51 years old, pleaded guilty to fraud on Tuesday for using his Florida-based phone company, Q Link Wireless Inc., to get over $600 million in government payments through the program. Prosecutors say that about $100 million of…

Carnival Cruise Line is one of the biggest companies in the cruise business. It runs more than twenty ships that go all over the world. It also has a less impressive record lately: three of its ships have been ranked as among the dirtiest by the Centers for Disease Control and Prevention. The CDC checks ships for cleanliness on a daily basis and gives them grades on a 100-point scale, with 86 being a good score. The latest CDC report says that out of all the ships that were inspected in 2023 and 2024, 13 got scores below 90. Three…

Although there are supporters of stablecoins, an experienced strategist claims that the buzz around them is exaggerated. Despite the fervor around stablecoins, a seasoned financial markets strategist claims that tokenization has the potential to transform the financial industry. Stablecoins, which are effectively money-market funds for the cryptocurrency community, have been hailed as a way to streamline financial networks, send instantaneous cross-border payments, act as collateral in wholesale financial settlements, and act as a store of value. Their ability to generate demand for government assets at a time when it needs to sell more of them has recently piqued the White…

The cooling methods produced by Vertiv are essential for AI data centers. Vertiv Holdings Co., a developer of data center technology, has benefited greatly from the spread of artificial intelligence. However, according to Deutsche Bank, investors who were not there during the stock’s three-year surge of more than 1,600% can still profit in the future, albeit not to the same extent. When you just look at how Vertiv’s stock (VRT) trades in relation to anticipated earnings, you can see that it is pricey compared to recent historical levels. Nicole DeBlase of Deutsche Bank pointed out that it trades at a…

In the second quarter, both Appaloosa and Soros Fund purchased much more Nvidia Corp. According to reports made public on Thursday, Soros Fund Management and Appaloosa Management both purchased much more Nvidia Corp. stock during the second quarter, as the chipmaker holds a central position in the artificial intelligence boom. During that time, both companies also purchased further shares of the troubled health insurance behemoth UnitedHealth Group (UNH). After-hours, the company’s shares surged by about 11%, yet they were down 46.3% for the year. Combining puts and calls, Soros Fund Management purchased 932,539 shares of Nvidia (NVDA). With the acquisition,…