S&P 500 firms could see an 8% hit to earnings if Mexico and Canada retaliate on tariffs, BofA says. Wall Street expects an EPS drawdown to dent the S&P 500’s rally. US earnings are otherwise set for strength amid upbeat corporate sentiment. A tit-for-tat trade war between the US and its neighbors could spell real…
Oracle’s stock fell nearly 8% after missing earnings estimates and issuing weaker guidance. Oracle’s cloud services, driven by AI demand, grew 12% in the last quarter, making up 77% of revenue. Oracle’s stock surged 80% this year, boosting its market value to over $500 billion. Oracle fell nearly 8% in extended trading after it reported…
Elon Musk set a new wealth record after a Tesla stock surge since the election. The CEO of Tesla and SpaceX has grown $118 billion richer this year, fueled by Tesla’s 42% jump. His net worth was also boosted by a new funding round for his AI startup, xAI. Elon Musk just broke his wealth…
The DOJ proposed banning Google from paying for search distribution deals. Google’s search dominance relies on distribution, not just technology. Investors worry Google’s market share could drop if distribution deals end. The online search business is not about technology. It’s about distribution. The US Department of Justice made that clear Wednesday when it proposed fixes…
Nov. 15, 2024 3 AM PT To the editor: I would like to express my heartfelt thanks to President Biden and Vice President Kamala Harris. Losing to President-elect Donald Trump stings for both her and the president, but it did not cause either of them to shed their dignity, decency and patriotism. (“Emboldened Trump returns…