GameStop shares faced a significant sell-off on Wednesday afternoon, causing concern among investors. This sell-off coincided with a surge in trading volume in call options owned by the infamous “Roaring Kitty,” whose real name is Keith Gill. Gill revealed on Monday night that he still held 120,000 call options contracts with a strike price of
Broadcom recently released their earnings report for the second fiscal quarter, showcasing a performance that surpassed analysts’ estimates. The company reported earnings per share of $10.96 adjusted against an expected $10.84, along with revenue of $12.49 billion compared to an anticipated $12.03 billion. This exceptional performance sent the stock soaring by approximately 10% in extended
Larry Ellison, the Chairman of Oracle, has seen a substantial increase in his net worth, totaling nearly $19 billion. This surge in wealth comes after Oracle announced double-digit revenue growth for the fiscal year, resulting in the stock experiencing its largest rally since 2021. Ellison, who founded Oracle in 1977, holds approximately 1.15 billion shares
Foundation Robotics Labs, a humanoid robotics startup seeking funds for an $11 million seed round, has come under scrutiny for its claims of close ties and impending investments from General Motors. The investor pitch, which was obtained by CNBC, indicated that GM had already committed to investing in the company, and was also set to
As the Federal Reserve concluded its two-day meeting, it announced that there would be no change in the key interest rate, pointing towards a single anticipated cut before the end of the year. Previously anticipated rate reductions were revised, with only one cut expected as opposed to the two initially indicated in March. Despite market
The federal government recently announced that it has issued over $1 billion in tax credits as an upfront cash incentive to buyers of electric vehicles. This program aims to make EVs more affordable for many households relative to their gasoline-powered counterparts and is a big component of the Biden administration’s push to reduce U.S. greenhouse
Last week witnessed a significant drop in mortgage rates, leading to a surge in mortgage application volume by almost 16% compared to the previous week. However, this downward trend in rates was short-lived as they shot back up after a stronger-than-expected monthly employment report was released on Friday. Despite the dip in rates, the average
The news broke recently that Major League Eating has decided to part ways with 16-time champion Joey “Jaws” Chestnut just before this year’s Nathan’s Famous Fourth of July hot dog eating contest. This shocking development comes after Chestnut chose to represent a competitor that sells plant-based hot dogs, going against the exclusivity provisions that have
As the 2025 deadline for the expiration of crucial tax breaks enacted by former President Donald Trump approaches, both President Joe Biden and Trump have pledged to extend these provisions for most Americans. However, the real challenge lies in determining how these extensions will be funded given the looming federal budget deficit. This article aims
Oracle shares surged by 9% in after-hours trading following the announcement of cloud partnerships with Google and OpenAI. However, the software maker fell short of Wall Street expectations for the fourth quarter. The earnings per share came in at $1.63 adjusted, missing the expected $1.65. Revenue also fell below expectations at $14.29 billion, compared to