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Lucid said in a statement to Stocktwits that AlixPartners is only assisting the company and “has not recommended bankruptcy to management or the Board.”
(Updates with Claritev's response in the fourth paragraph.) The US Justice Department recently se
Citigroup stock dove, reversing earlier gains, after the earnings call raised more questions for investors. The bank’s earnings print beat estimates, but during the earnings call Citi maintained its 10% to 11% full-year return on tangible common equity outlook, an important metric for the industry. Citigroup was the worst performing name within the State Street Financial Select Sector ETF, dragging the ETF back to just above the flatline.
Every good party has one guest who starts eyeing the door while the music is still loud. They are not trying to spoil anything. They have just seen how these nights tend to end. Wall Street has its own version of that guest, and right now the speakers are cranked. The S&P 500 keeps closing at ...
Investing.com -- Lucid Group Inc. shares were trading roughly 20% lower on Tuesday, paring earlier losses of as much as 55%, after the EV maker rebuffed earlier reports of a potential bankruptcy filing.
Hachette, Cengage, Elsevier, and other publishers allege that Google trained its AI on copyrighted works without the necessary permissions.
Lucid stock collapsed by half in a single afternoon after reports surfaced that the EV maker hired turnaround specialists to weigh options that range from going private to a potential court filing, and now shareholders are left waiting to find out which path the Saudi-backed automaker actually chooses.
(Update with the Justice Department's response to a request for comment in the third paragraph.)
(Bloomberg) -- Lucid Group Inc. shares sank Tuesday after a news report said the electric vehicle maker is working with a restructuring advisor and weighing options that include filing for bankruptcy protection or going private.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeUS CPI Falls for the First Time Since 2020, Core Gauge FlatA Cocaine Bust in Spain Leads All the Way to Wall Street‘We Faltered’: IBM Plunges Most Since 1968 on Sales MissTrump Shelves
Wireless carrier Verizon will announce the reorganization plan Thursday morning. The company has been seeking to reduce costs under its new CEO.
Regulators are reviewing whether Android users were unfairly steered toward Google Search.
Plaintiffs allege Meta's AI-assisted evaluation process was discriminatory.
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit
Citigroup reported a robust second quarter, with its profits up double-digits. But its stock fell after executives indicated the bank would use the good times to invest in itself. “A stronger environment isn't just upside to report,” Citi CEO Jane Fraser said on a call with Wall Street analysts.
Destinus, MBDA, Safran, Airbus and Thales said they had signed a letter of intent to establish a consortium for the development of the Bliksem EXO system to strike down ballistic missiles, which can travel at hypersonic speeds above the atmosphere.
Investing.com -- Biogen Inc. (NASDAQ:BIIB) shares fell nearly 9% following the Phase 2 CELIA readout of its highly anticipated Alzheimer’s therapy, diranersen. While the drug achieved a major scientific milestone by robustly clearing tau pathology, an unexpected inverse dose response—where the lowest dose performed the best—left Wall Street analysts confused and triggered a sell-off. Diranersen missed its primary endpoint: proving a dose-dependent response on the CDR-SB, a key measure of cogniti
(Bloomberg) -- Citgroup Inc.’s shares erased earlier gains as Chief Executive Officer Jane Fraser said the bank would “lean in with additional investments and other actions” if economic conditions remain favorable.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeUS CPI Falls for the First Time Since 2020, Core Gauge FlatLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkA Cocaine Bust in
IBM stock is having one of its worst days ever – and is dragging some other names in software and IT along with it. Shares of software and professional-services firms including Accenture, Gartner, Workday and ServiceNow were all trading lower Tuesday morning.
By Jonathan Stempel July 14 (Reuters) - Warren Buffett has stopped donating money to the Gates Foundation, ending a two-decade philanthropic partnership following revelations about interactions
IBM shares sank as much as 25% as the company issued a profit warning citing a shift in customer spending from software to AI hardware and memory chips.
June CPI came in at 3.5% annually, below the 3.8% economists expected, but rising oil prices and an IBM warning capped gains
Investing.com -- Mizuho Securities downgraded Circle Internet Group, the issuer of the USDC stablecoin, to Underperform from Neutral and trimmed its price target to $50 from $85, flagging competitive threats from a newly launched rival stablecoin that could undercut Circle’s core revenue model.
Investing.com -- HSBC downgraded IBM to Reduce from Hold and cut its price target to $191 from $231 in a note on Tuesday, arguing that a basket of IBM's peers offers superior earnings potential for the same investment.
Bond yields dropped sharply and Nasdaq futures climbed after a cooler-than-expected inflation report this morning. Futures for the S&P 500 and Nasdaq-100 index rose, while those tied to the Dow industrials edged lower.
Industrial distributor Fastenal reported second-quarter earnings per share of 33 cents, in line with Wall Street estimates.
The Swiss competition authority announced Tuesday it had opened a preliminary investigation into Google's removal of the "choice screen" feature on Android devices in Switzerland."Recently, Google removed this feature in Switzerland," the Secretariat of the Competition Commission (COMCO) said in a statement.
(Bloomberg) -- Shares of software and IT services companies plunged Tuesday after International Business Machines Corp. reported preliminary results that missed analyst expectations, reigniting questions over the sector’s prospects.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkDisney Exiting Streaming Could Spur 40% Rally: Wells FargoO
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