In recent years, the world’s largest semiconductor equipment manufacturers, such as ASML, have experienced a significant surge in their China revenue. According to analysts from Bank of America, the share of China revenue for companies like Lam Research, ASML, KLA Corp., and Applied Materials has more than doubled since late 2022. This spike in revenue
Alphabet, the parent company of Google, reported second-quarter earnings that beat both top and bottom line expectations. Despite the positive earnings report, the stock slipped 1% in after-hours trading. Revenue from its YouTube advertising segment fell short of forecasts, which might have contributed to the decline in stock price. Shares of electric vehicle maker Tesla
Tesla, the innovative electric vehicle company, is gearing up to release its second-quarter earnings report after the closing bell on Tuesday. Analysts from LSEG are anticipating earnings per share of 62 cents and revenue of $24.77 billion. This comes after a challenging first half of the year that saw Tesla reduce its headcount by more
The housing market experienced a 5.4% drop in sales of previously owned homes in June compared to the previous month. This decline was also apparent in year-over-year sales, which were down by 5.4%. These figures indicate the slowest sales pace since December, pointing to a significant shift in market dynamics. Chief Economist for the Realtors,
Despite the data indicating a robust U.S. economy, a significant portion of Americans hold the belief that the country is currently experiencing a recession. According to a survey conducted by Affirm with 2,000 adults, 3 in 5 respondents expressed concerns about the economic climate. These individuals pointed to rising costs and increased financial difficulty as
The recent introduction of the “Pharmacists Fight Back Act” by bipartisan lawmakers signals a significant step towards cracking down on the questionable business practices of pharmacy benefit managers (PBMs) in the drug supply chain. These middlemen have long been criticized for inflating prescription medication prices, harming U.S. patients and pharmacies, and failing to pass on
Coca-Cola recently announced an increase in its full-year outlook due to a rise in global demand for its drinks in the second quarter. The company now expects organic revenue growth between 9% to 10%, up from the previous forecast of 8% to 9%. Additionally, the outlook for comparable earnings growth has been raised to a
United Parcel Service reported a disappointing second-quarter performance, missing profit and revenue targets. The company’s revenue came in below expectations, leading to a 7% drop in share price during pre-market trading. UPS revised its 2024 revenue guidance downwards to approximately $93 billion, a significant decrease from its previous forecast of up to $94.5 billion. Profit
The upcoming launch of spot ether exchange traded funds on Tuesday has sparked excitement among crypto enthusiasts. This development is expected to pave the way for a broader investor base for Ethereum, a blockchain technology that many argue has a more extensive use case than bitcoin. These ETFs will directly invest in ether, which serves
As General Motors prepares to unveil its second-quarter results, analysts are optimistic about the company’s performance. With stable sales and vehicle prices reported in the first half of the year, GM is anticipated to lead the pack among traditional Detroit automakers. Wall Street has high hopes for the second quarter, with expectations set at an