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Yesterday, the US Federal Reserve released the minutes of its December meeting where it had raised rates by 50 basis points as widely expected. Here are the key takeaways from the minutes of the Fed’s December meeting. The minutes state that “incoming data showed nascent signs of a moderation in inflationary pressures.” Notably, the headline…
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Chinese EV (electric vehicle) stocks including NIO and Xpeng Motors are trading lower in US premarket price action today amid reports that Tesla has suspended production in China. Separately, NIO has lowered its fourth-quarter delivery guidance. Over the last couple of weeks, there have been multiple reports which said that Tesla is looking to lower…
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Amid the stock market boom of 2020 and 2021, SPACs (special purpose acquisition companies) emerged as a lucrative way for companies looking to go public. Life has however come a full circle for SPACs and many are now liquidating. In 2020, SPAC IPOs hit a new record and the total money collected by these blank…
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Tesla (NYSE: TSLA) CEO Elon Musk has confirmed that he would step down as Twitter chief after the majority of respondents in a Twitter poll voted in favor of him stepping down. Tesla stock is among the biggest wealth creators of the last decade. It gained a whopping 740% in 2020 and another 50% last…
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The US Fed would begin its two-day meeting today post which it would announce the rate hike decision. Markets expect Fed to raise rates by 50-basis points at the meeting but could chair Jerome Powell surprise markets? The Fed has been on a rate hiking spree not seen since the 1980s. It has raised rates…
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Zoom Video Communications (NYSE: ZM) released its earnings for the fiscal third quarter of 2023 yesterday after the markets closed. While its earnings were better than expected, it lowered its full-year guidance. Zoom reported revenues of $1.1 billion which were 5% higher than the corresponding quarter last year and were in line with what analysts…
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Disney (NYSE: DID) board has named former CEO Bob Iger as the company’s new CEO effective immediately. Bob Chapek, who held the post for over two years has resigned amid the crash in DIS stock price. Chapek became Disney’s CEO in February 2020 and took over the baton from Iger. Under his watch, the company’s…
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Rivian stock (NYSE: RIVN) stock is trading higher in US postmarket price action today after it posted a narrower-than-expected loss in the third quarter of 2022. Rivian posted a net loss of $1.74 billion in the quarter which was similar to the previous quarter. Its per-share loss came in at $1.57, which was better than…
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Tesla stock (NYSE: TSLA) is trading sharply lower in US premarket price action today after it released its third-quarter earnings. The company’s revenues fell short of analysts’ estimates and it trimmed its 2022 delivery forecast. Tesla reported revenues of $21.45 billion in the third quarter of 2022, which was 56% higher than the corresponding period…
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Netflix (NYSE: NFLX) has announced pricing and other key details about its ad-supported tier. Here’s everything you need to know about Netflix’s new lower-priced tier. The ad-supported tier would cost $6.99 in the US. Netflix has kept the pricing at Canadian dollars 5.99 in Canada and £4.99 in the UK. To put that in perspective,…
