In a recent report by Bank of America analysts, it was revealed that four of the world’s largest semiconductor equipment manufacturers, including ASML, have experienced a significant increase in their China revenue since late 2022. This surge in revenue is attributed to China’s accelerated purchase of semiconductor manufacturing equipment following the U.S.’s tighter export restrictions
Alphabet, the parent company of Google, reported earnings that beat expectations in the second quarter. However, the stock slipped 1% in extended trading, mainly due to lower-than-expected revenue from its YouTube advertising segment. This suggests that investors are paying close attention to the individual segments of the tech giant’s business, looking for more consistent performance
The housing market is experiencing a noticeable shift from a seller’s market to a buyer’s market, as indicated by a 5.4% drop in previously owned home sales in June compared to May. Lawrence Yun, chief economist for the National Association of Realtors, highlighted that homes are staying on the market longer, and sellers are receiving
In recent news, bipartisan lawmakers introduced a new bill aimed at regulating the business practices of drug supply chain middlemen who have been under scrutiny for inflating prescription medication prices. This legislation, known as the “Pharmacists Fight Back Act,” addresses the concerns of U.S. patients and pharmacies by ensuring fair and transparent reimbursement for community
The current state of the U.S. economy is a topic of much debate and discussion among Americans. Despite various measures indicating a strong economy, a significant portion of the population believes that the country is in the midst of a recession. According to a recent survey conducted by Affirm, approximately 3 out of 5 Americans
Tesla, the leading electric vehicle maker, has endured a tumultuous first half of the year, marked by a significant workforce reduction and a decline in vehicle deliveries. Despite these challenges, the company managed to report second-quarter vehicle deliveries that exceeded analysts’ expectations. This shows that Tesla still commands a significant market share in the electric
The introduction of spot ether exchange traded funds (ETFs) has brought excitement to the world of cryptocurrency trading. These ETFs focus on ether, the digital currency used within the Ethereum network. This development has ignited hope among crypto enthusiasts as it presents an opportunity to expand the investor base for Ethereum, a technology that many
Coca-Cola recently announced an increase in its full-year outlook due to the rising global demand for its drinks in the second quarter. The company now expects organic revenue growth of 9% to 10%, up from the previous forecast of 8% to 9%. Additionally, Coke raised its outlook for comparable earnings growth to a range of
United Parcel Service released its second-quarter report on Thursday, revealing profit and revenue figures that fell below expectations. The company also revised its 2024 revenue guidance, now expecting approximately $93 billion, down from the previous forecast of up to $94.5 billion. In addition, UPS announced a reduction in full-year capital expenditures to around $4 billion,
General Motors is anticipated to release its second-quarter results soon, and analysts are optimistic about the performance of the company. Compared to other traditional Detroit automakers, GM is expected to stand out with stable sales and vehicle prices throughout the first half of the year. The average estimates compiled by LSEG suggest that GM’s earnings