Shaoqing Ren, vice president, autonomous driving development, at Nio speaks about the electric company’s 5nm chip at its tech day in Shanghai on July 27, 2024. CNBC | Evelyn Cheng BEIJING — Chinese electric car companies that are already engaged in an intense price war are turning up the heat on another front: Chip-powered tech […]
China’s Foreign Minister Wang Yi (R) shakes hands with US National Security Advisor Jake Sullivan at Yanqi Lake in Beijing on August 27, 2024. Ng Han Guan | Afp | Getty Images BEIJING — U.S. President Joe Biden and Chinese President Xi Jinping are set to speak over the phone in “coming weeks,” the White […]
Check out the companies making headlines in extended trading. Nvidia — The artificial intelligence chipmaker dropped 5% even after Nvidia beat expectations in its fiscal second-quarter results. Adjusted earnings per share of 68 cents exceeded the LSEG consensus estimate of 64 cents per share. Revenue of $30.04 billion exceeded the anticipated $28.7 billion. In the […]
Images By Tang Ming Tung | Digitalvision | Getty Images Employers are increasingly putting workers’ 401(k) plan savings on autopilot. But the positive impact of automated retirement savings is more muted than initially thought, new research finds. Previously “underexamined” factors — like workers cashing out 401(k) balances when they leave a job — “meaningfully reduce” […]
Check out the companies making headlines in midday trading: Super Micro Computer — Shares shed 26% after the artificial intelligence server company said it would postpone filing its annual 10-K form for the fiscal year that ended June 30. Super Micro Computer said its management requires more time to “complete its assessment of the design […]
Warren Buffett tours the grounds at the Berkshire Hathaway Annual Shareholders Meeting in Omaha Nebraska. David A. Grogan | CNBC Warren Buffett’s Berkshire Hathaway reached a $1 trillion market capitalization on Wednesday, the first non-technology company in the U.S. to score the coveted milestone. Shares of the Omaha-based conglomerate have rallied more than 28% in […]
Check out the companies making headlines before the bell. Abercrombie & Fitch — Shares of the retailer, which owns the Abercrombie and Hollister banners, fell more than 9% after it reported a 21% increase in its revenue during its fiscal second quarter and issued bullish guidance for the current period. Abercrombie posted earnings of $2.50 […]
Workers in July 2019 expand a mine in Germany intended to increase supplies of tungsten and fluorspar. Picture Alliance | Picture Alliance | Getty Images BEIJING — U.S. government researchers recently visited a South Korean mine to assess progress towards boosting supply of a critical metal called tungsten from areas outside China, the mine operator […]
JD.com set up an Innovative Retail division that houses its grocery business 7Fresh. Bloomberg | Bloomberg | Getty Images Hong Kong-listed shares of Chinese online retailer JD.com climbed 1.2% on Wednesday, outperforming the decline on the Hang Seng index after the firm announced a $5 billion buyback late Tuesday. U.S. listed shares of the firm […]
He Xiaopeng, founder of Chinese EV company Xpeng, said on Aug. 27 that the startup’s next ten years will focus on integrating artificial intelligence. CNBC | Evelyn Cheng BEIJING — Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting as low as $16,812, far […]