The Chinese electric car industry is currently witnessing a shift towards in-house designed auto chips, with companies like Nio and Xpeng leading the way. This development marks a significant departure from the reliance on Nvidia chips that many electric car makers in China have had in the past. The move towards in-house chips is driven
Salesforce’s fiscal second-quarter results were indeed impressive, with earnings per share coming in at $2.56 adjusted versus the expected $2.36. Additionally, revenue for the quarter was $9.33 billion, surpassing the expected $9.23 billion. This growth in both earnings and revenue highlights the company’s strong performance and ability to surpass market estimates. One notable development from
The stock market is a volatile entity that can be influenced by a plethora of factors. Nvidia, a major player in the market, saw a 7% decline after hours due to its quarterly report. Despite exceeding expectations from the same quarter a year ago, the stock faced selling pressure in extended trading. Conversely, Salesforce experienced
The White House announced that U.S. President Joe Biden and Chinese President Xi Jinping are scheduled to speak over the phone in the “coming weeks.” This comes as the U.S. national security adviser, Jake Sullivan, is currently in Beijing meeting with China’s top diplomat, Wang Yi. In addition to the leader-level call, both sides mentioned
The U.S. Department of Education recently announced additional details about the rollout of the new Free Application for Federal Student Aid (FAFSA) for the upcoming academic year, aiming to address the issues that plagued the previous college aid application cycle. The 2025-2026 FAFSA will undergo a phased rollout, starting with beta testing for limited student
Recent data shows that mortgage rates have been decreasing steadily for the past four weeks. However, the response from both current homeowners and potential homebuyers has been less than enthusiastic. Mortgage application volume only rose by 0.5% last week compared to the previous week, as reported by the Mortgage Bankers Association. This slight increase suggests
In the midst of an inflation-fueled sales slump impacting the toy industry in the first half of 2024, Lego stands out as a success story. Despite economic challenges, Lego reported a significant 13% increase in revenue during the first six months of the year, reaching an impressive 31 billion Danish krone. This growth can be
JD.com, a Chinese online retailer, made headlines on Tuesday with the announcement of a $5 billion share buyback. This move resulted in a 1.2% increase in the company’s Hong Kong-listed shares and a 2.24% rise in its U.S. listed shares. The buyback comes on the heels of a previous $3 billion buyback earlier this year,
As the market continues to rise, it is important to keep an eye on key companies that are making waves. Nvidia, for example, has seen an impressive 179% increase over the last year and a 159% surge in 2024. Despite being 8.8% from the June 20 high, analysts remain bullish with 92% rating it a
Xpeng, a Chinese electric car company, recently unveiled its new mass-market Mona brand with prices starting as low as $16,812. This move posed a direct challenge to Tesla’s cheapest Model 3. The debut of the Mona M03 electric coupe was met with overwhelming demand, as orders exceeded 10,000 within just 52 minutes of the car’s