CashNews.co (Reuters) – Automaker Stellantis told its U.S. dealers on Wednesday that its August sales were up 21% from July, and its dealer inventory was reduced for two consecutive months by approximately 10%. Stellantis National Dealer Council’s President criticized CEO Carlos Tavares for the “rapid degradation” of the automaker’s brands and urged him to spend […]
CashNews.co Investors began September trading with a thud as stocks tumbled on Tuesday to start a historically tough month for markets, with AI darling Nvidia (NVDA) and chip names leading tech stocks down. The turn into the red comes amid a crucial week of data on the economy and labor market highlighted by an influential […]
CashNews.co For the better part of two years, artificial intelligence (AI) has been the hottest thing since sliced bread on Wall Street. The prospect of AI-driven software and systems learning without human intervention gives this technology broad-reaching utility in almost every sector and industry. Though we’ve seen no shortage of next-big-thing trends come and go […]
CashNews.co (Reuters) – HSBC is mulling the combination of its Commercial and Investment banking divisions to eliminate overlapping roles at the lender and cut costs, Bloomberg News reported on Monday, citing people familiar with the matter. The combined division would become the bank’s largest revenue generator, contributing about $40 billion to the lender’s revenue annually, […]
CashNews.co Nvidia’s (NVDA) stock has stumbled as investors grow concerned the AI demand hype may be slowing. Goldman Sachs lead analyst Toshiya Hari is still bullish on the stock for a couple of reasons. First, he says, “Demand for accelerated computing continues to be really strong,” adding that it’s more than hyperscalers looking to buy […]
CashNews.co Semiconductor company Nvidia (NASDAQ: NVDA) dominates the market for artificial intelligence (AI) chips. In fact, analysts estimate its graphics processing units account for up to 95% of AI chip sales. But history is full of cautionary tales about the downfall of dominant brands that failed to maintain their technological leadership. IBM was once a […]
CashNews.co Following the release of the August Consumer Price Index (CPI) report, IG North America CEO JJ Kinahan joins Brad Smith and Seana Smith on the Morning Brief to provide some perspective on retail investors’ tech trades ahead of any potential interest rate cuts. “We have seen Nvidia (NVDA) come into some troubles recently, but […]
CashNews.co What is Nvidia (NVDA) CEO Jensen Huang’s biggest worry? “We have a lot of people on our shoulders, and everybody is counting on us,” Huang said when asked that question by Goldman Sachs CEO David Solomon at the Goldman Sachs Communacopia and Technology Conference. “Demand is so great that delivery of our components, our […]
CashNews.co (Bloomberg) — A rally in the world’s largest technology companies spurred a stock-market rebound in a volatile session that had Wall Street traders digesting faster-than-anticipated inflation data. Most Read from Bloomberg It was the first time since October 2022 that the S&P 500 and Nasdaq 100 each erased an intraday loss of at least […]
CashNews.co It’s no secret that Intel (NASDAQ: INTC) has been struggling. The stock is down more than 60% year to date and has been the worst performer in the Dow Jones Industrial Average this year. The company was once the largest chipmaker in the world, dominating the personal computer (PC) space. That helped it become […]