By Allison Lampert (Reuters) – Boeing said on Tuesday it delivered 24 commercial planes in May, about half of the 50 jets it handed over to customers during the same month a year earlier, as it continued operating a slower assembly line to complete outstanding work. Boeing has said it is producing fewer MAX single-aisle jets to improve manufacturing quality, after the Jan. 5 mid-air blowout of a door plug on a 737 MAX 9 … Read more…
(Reuters) -General Motors on Tuesday announced a new $6 billion share buyback plan, just over a month after the automaker raised its dividend on upbeat annual forecast, citing stable prices and demand for gasoline-engine vehicles. The company had in November outlined a $10 billion stock buyback on the heels of reaching a costly new labor agreement with the United Auto Workers union. GM completed the first tranche in the first quarter and is on track … Read more…
(Reuters) – Shares of GameStop tumbled for a second consecutive session on Monday, extending deep losses after stock influencer Keith Gill’s return to YouTube last week failed to spark fresh investor enthusiasm for the struggling shopping mall retailer. Gill, known on YouTube as “Roaring Kitty,” held his first livestream in three years on Friday, the same day that GameStop unveiled its second share sale in days. A key figure behind an eye-popping rally in GameStop … Read more…
(Reuters) – Nvidia’s 10-for-1 stock split aimed at luring retail investors has taken effect, sparking speculation over chances of the artificial intelligence bellwether’s inclusion in the blue-chip Dow index. The split, aimed at lowering per-share value to make it more affordable for employees and investors, increases the company’s outstanding shares without changing the stock’s valuation. “A side-effect of Nvidia’s stock split will be to put it in the running to follow Amazon and Apple into … Read more…
JERUSALEM (Reuters) – Intel Corp is halting plans for a $25-billion factory in Israel, Israeli financial news website Calcalist said on Monday, in a report that the chipmaker did not confirm or deny. The U.S. company, asked about the report, cited the need to adapt big projects to changing timelines, without directly referring to the project. “Israel continues to be one of our key global manufacturing and R&D sites and we remain fully committed to … Read more…
By Jody Godoy NEW YORK (Reuters) – U.S. antitrust enforcers are digging into Big Tech’s role in the artificial intelligence (AI) boom, exploring whether business practices by entrenched players stifle competition in the burgeoning space. The U.S. Department of Justice and Federal Trade Commission (FTC) have moved to divvy up the biggest players in the industry, a step that puts Nvidia, OpenAI and Microsoft closer to potential investigations. Here are some of the AI issues … Read more…
(Reuters) – As Nvidia threatens to dethrone Microsoft as the world’s most valuable company, at least a few investors are betting its soaring shares will return to earth. Outstanding short bets against Nvidia stand at about $34 billion, nearly twice as much as what has been bet against Apple and Tesla, the next two biggest short bets combined, according to a report from S3 Partners on Thursday. Short sellers have bet about $19 billion against … Read more…
(Reuters) – Warren Buffett’s Berkshire Hathaway bought around 2.57 million shares of common stock in Occidental Petroleum over June 5-7, according to a U.S. securities filing. Buffett’s company bought additional shares in Occidental’s common stock for more than $150 million and now owns about 250.6 million shares in the energy producer. Occidental shares closed at $59.48 on Friday. As of March, Berkshire owned a roughly 28% stake in Occidental. Occidental Petroleum previously announced it had … Read more…
TOKYO (Reuters) – Nippon Steel Vice Chairman Takahiro Mori met with U.S. Steel’s employees and community leaders this week to gain better understanding of its proposed acquisition of the U.S. company and saw positive reaction, a company spokesperson said. Mori, the key negotiator for the U.S. Steel deal, returned to the United States this week, soon after a May 20-26 trip, in an effort to close the deal amid growing regulatory scrutiny and political opposition … Read more…
By Arasu Kannagi Basil and Echo Wang (Reuters) -Shares of Waystar fell 2.3% below their initial public offering price in their Nasdaq Global Select Market debut on Friday, giving the healthcare payments company a valuation of $3.50 billion. The company’s stock opened at $21, slightly below the IPO price of $21.50, which was at the mid-point of its targeted range of $20 and $23. Waystar, backed by Swedish private equity firm EQT AB and Canadian … Read more…