Chip Stock Sell-off After Disappointing AMD And Super Micro Results LeapRate

May 02, 2024 BY Elizabeth Anderson

Chip Stock Sell-off After Disappointing AMD And Super Micro Results

AMD’s GAAP quarter-over-quarter revenues dipped by 11% and, according to Reuters, SMCI’s revenue dropped by 16%. Super Micro Computer’s stock jumped by 150% earlier this year and outstripped Nvidia Corporation (NVDA) (the frontrunner in the chipmaking sector) gains at certain times. Queries about a new range of servers contributed to the bleak SMCI Q3 performance…

May 01, 2024 BY PureContent

Nick Twidale joins ATFX as Chief Market Analyst

Nick is a highly recognisable figure in the financial services industry. As the previous APAC CEO for FP Markets, GM for IC Markets and Chief Operating Officer at Rakuten Securities Australia and he solidified his reputation as a Forex Trading and broking industry expert. In addition to his extensive professional experience in the broking space,…

May 01, 2024 BY Robert Bell

McDonald’s Posts Disappointing Results As Customers Cut Back Spending

The fast-food chain saw sales growth in its restaurants that opened more than a year ago reach a disappointing 1.9% rather than the 2.33% that had been widely predicted. This figure was 12.6% in Q1 2023. MCD suffered with all its geographic regions failing to meet expectations, though some good reasons were given for this.…

April 30, 2024 BY Robert Bell

Coca-Cola To Offer IPO For African Bottling Division

Initial reports suggest that it could be valued at $8bn, but the company hasn’t officially commented on the matter, and negotiations are said to be at a very early stage. The IPO for Coca-Cola Beverages Africa (CCBA) could take place as early as 2025. Coca-Cola noted in its earnings report for Q3 2023 that it…

April 30, 2024 BY Elizabeth Anderson

Tesla’s Stock Surges After China’s Thumbs-Up For Driver-Assistance Technology

This share movement follows co-founder and CEO Elon Musk’s visit to China. The leading electric vehicle (EV) maker announced on Sunday, 28 April 2024 that it had met the country’s data security provisions and that the government had removed restrictions on its vehicles. In its latest financial report, Tesla indicated an 8% year-over-year decline in…

April 29, 2024 BY Elizabeth Anderson

AUD Looks To End April On A Positive Note

At the time of reporting, the currency has retained its strong footing and, in the European session, traded 0.24% up against the US dollar (USD) at 0.6534. Economists attributed this robust performance to the country’s Q1 Producer Price Index (PPI) data, which reflected a year-on-year growth of 4.3% and outstripped the predicted 2.6%. PPI for…

April 29, 2024 BY Elizabeth Anderson

No Curtain Call For Paramount’s CEO As Skydance Merger Looms

According to CNBC, those close to the matter indicated that Bakish would not be attending the company’s quarterly earnings call scheduled for Monday. Instead, the international media and entertainment giant will rely on its segment heads to handle the event. The firm is currently in talks with Skydance Media, a private outfit, about a possible…

April 26, 2024 BY Elizabeth Anderson

Gold Price Holds Steady While US GDP Shakes Up Dollar

The US Bureau of Economic Analysis (BEA) said that during Q1 2024, US GDP grew by 1.6% according to the ‘advance’ estimate. The BEA stated: In the fourth quarter of 2023, real GDP increased 3.4 percent. The increase in the first quarter primarily reflected increases in consumer spending and housing investment that were partly offset…

April 26, 2024 BY Elizabeth Anderson

Stellantis Says Limiting Petrol Car Sales Will Hurt UK Economy

The Telegraph reported that the clampdown on the sale and ownership of combustion engines may force Stellantis to cease operations in Britain. According to the Telegraph, Carlos Tavares, the chief executive officer of Stellantis, indicated that a law curbing petrol car sales will compel manufacturers to either sell vehicles at a loss, limit the amount…

Category: Forex