A logo of Taiwan Semiconductor Manufacturing Company (TSMC) is seen during the TSMC global RnD Center opening ceremony in Hsinchu on July 28, 2023. (Photo by Amber Wang / AFP) Amber Wang | Afp | Getty Images Taiwan Semiconductor Manufacturing Company on Thursday beat revenue and profit expectations in the first quarter, thanks to continued strong demand for advanced chips, particularly those used in AI applications. Here are TSMC’s first-quarter results versus LSEG consensus estimates: Net revenue: 592.64 billion New Taiwan dollars ($18.87 billion), vs. NT$582.94 billion expected Net income: NT$225.49 billion, vs. NT$213.59 billion expected TSMC reported net revenue rose 16.5% from…
Author: insighter
This article originally appeared on Inside Climate News. It is republished with permission. Sign up for the newsletter here. One of the sideshows in a wild week for Tesla is how its market capitalization tumbled behind and then jumped back ahead of ExxonMobil. The fact that this is even a topic of conversation is a testament to how much Tesla has fallen, with sluggish sales and a vehicle lineup that is overdue for an update in the face of now-formidable competition. Tesla’s market capitalization—the sum of the value of all of its stock—had plummeted from a high of more than $1.2 trillion…
There are plenty of factors to consider when booking long-range travel plans. One of the biggest: which airline will fly you to your destination. While many airlines will take you where you want to go, the travel experience can vary widely when it comes to factors such as boarding processes, amenities and baggage allowances. WalletHub recently released a ranking of the best airlines in the U.S. The site compared the nine biggest domestic airlines, plus one regional carrier, across 13 metrics in three major categories: Baggage and departures In-flight comfort and cost Safety The airlines were scored on metrics including…
A Gucci store at Harbour City shopping mall, operated by Wharf Holdings Ltd., in Hong Kong, China, on Friday, June 2, 2023. Bloomberg | Getty Images Shares of French luxury group Kering plunged 14% on Tuesday after the company warned that Gucci sales look set to fall 20% year-on-year in the first quarter, amid declining Asia transactions. The rare profit warning forecasts overall group revenues to drop 10% in the first three months of 2024 on a comparable basis, setting the fashion house apart from other luxury lines LVMH and Hermes, which have remained resilient in the face of economic…
There’s been a steady drumbeat of concerns about stagflation as recent data showed economic growth slowing sharply and inflation picking up. Now, Wall Street can’t ignore that unpleasant subject as its presence is starting to be felt on financial markets, especially in bonds. “I think what we’re seeing here is I’m starting to get whiffs of stagflation, dare I say,” Steve Sosnick, chief strategist at Interactive Brokers, told Bloomberg TV on Friday. “I know that’s a dirty word in a lot of circles.” He described the first-quarter GDP report on Thursday as terrible, noting growth decelerated much more than expected…
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Bob Bakish, then president and chief executive officer of Viacom Inc., speaks during the Mobile World Congress Americas event in Los Angeles, California, U.S., on Tuesday, Oct. 22, 2019. Patrick T. Fallon | Bloomberg | Getty Images Paramount Global’s board is preparing to fire Chief Executive Officer Bob Bakish as soon as Monday morning, according to people familiar with the matter. Paramount Global reports its quarterly earnings Monday. Bakish won’t be on the call, the people said. The board is expected to lean on company division heads in lieu of a CEO while it negotiates a possible merger with Skydance Media.…
Pictured here is a commercial residential property under construction on March 20, 2024, in Nanning, capital of the Guangxi Zhuang autonomous region in south China. Future Publishing | Future Publishing | Getty Images BEIJING — China’s fiscal stimulus is losing its effectiveness and is more of a strategy to buy time for industrial and consumption policies, S&P Global Ratings senior analyst Yunbang Xu said in a report Thursday. The analysis used growth in government spending to measure fiscal stimulus. “In our view, fiscal stimulus is a buy-time strategy that could have some longer-term benefits, if projects are focused on reviving…
Want more stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the free, daily ResiClub newsletter. Even before the onset of the pandemic housing boom, homebuilders were constructing more single-family and townhome rental communities. Ultralow mortgage rates and soaring rents during the pandemic, coupled with cash-flush Wall Street firms seeking assets to buy only added fuel to the fire. Many of those projects are still working their way through the pipeline. Indeed, in 2023 there were a record-breaking 27,495 build-to-rent homes completed, up 75% from 2022 and up a staggering 307% since pre-pandemic deliveries in 2019. That’s according to new report by RentCafe, using data…
Baron Capital Chairman and CEO Ron Baron recently saw first hand how Tesla’s self-driving technology is progressing with a ride near the company’s campus in California. The billionaire investor told CNBC on Thursday that he was visiting Elon Musk’s SpaceX near Los Angeles on Monday morning, meeting with engineers and finance staff. Then in the afternoon, he traveled up the coast to Tesla to see employees working on autonomous-driving technology and “the compute people.” Baron said the 12th iteration of the technology has benefitted from enormous amount of data collected by Tesla cars and by more AI-driven computing power. That’s…
A person plays lottery at a 7-eleven store as Mega Millions jackpot reaches $ 1 billion 580 million, in Redwood City, California, United States on August 8, 2023. Tayfun Coskun | Anadolu Agency | Getty Images ‘Keep your mouth shut’ Hundreds of millions of dollars can be life-changing for a lottery winner, their family and other loved ones. But certified financial planner Kashif Ahmed, president of American Private Wealth in Bedford, Massachusetts, has simple advice for the lucky recipient: “Keep your mouth shut.” Some states allow you to claim the prize anonymously, but public disclosure laws vary by state,…
ARK Invest’s chief futurist lists five groups that should give tech investors an edge. According to Brett Winton, robotics, artificial intelligence, multi-omics sequencing, public blockchain and energy storage are key areas because they’re all entering the marketplace at the same time. “We believe that this is a unique time in technological economic history,” he told CNBC’s “ETF Edge” this week. Winton collaborates with ARK Invest CEO Cathie Wood to maintain the ARK Venture Fund (ARKVX), which allows investors to buy into the private technology space. According to the firm’s website, the goal of the fund is to make venture capital…