Lyft shares pop 23% after buyback; CEO says there are no signs of worry with the consumer
Samantha Subin May 9th, 2025 • Lyft CEO David Risher told CNBC’s “Squawk Box” that the company isn’t seeing “anything to worry about” with the consumer. • The ride-sharing company upped its share buyback plan to $750 million and posted better-than-expected gross bookings. • The company said the quarter was its 16th straight period of […]
Trump administration to rescind and replace Biden-era global AI chip export curbs
By Karen Freifeld and Arsheeya Bajwa May 7, 2025 Reuters Trump officials will replace Biden AI chip exports rule Biden rule divided the world into three tiers, with most countries subject to caps The rule was set to take effect on May 15 May 7 (Reuters) – U.S. President Donald Trump’s administration plans to rescind […]
Disney Raises Profit Forecast on Strong Parks, Streaming
Summary by Bloomberg AI Walt Disney Co. reported fiscal second-quarter results that beat Wall Street estimates and raised its outlook for the full year, citing strong performances from theme parks and streaming TV. The company expects full-year fiscal 2025 earnings to rise 16% to $5.75 a share, driven by faster-than-expected growth at its theme parks […]
AMD beats on earnings but will take $1.5 billion hit to revenue from chip restrictions to China
Kif Leswing May 6 2025 AMD reported first fiscal-quarter earnings on Tuesday that topped expectations, and provided a strong guide for current-quarter revenue. The company’s data center segment, including AI graphics and central processor sales, topped estimates and rose 57%. AMD’s forecast also included $800 million in costs that the company said it would incur […]
Growth at US Service Providers Picks Up After Slumping in March
Summary by Bloomberg AI The Institute for Supply Management’s index of services increased 0.8 point to 51.6 last month, indicating expansion. The prices-paid gauge jumped 4.2 points to a more than two-year high of 65.1, with nearly 40% of purchasing managers reporting higher prices. Eleven industries reported growth last month, led by accommodation and food […]
Blackstone president sees ‘a ton’ of AI data center demand, commercial real estate recovery
MAY 5 2025 1:42 PM EDT UPDATED MON, MAY 5 2025 3:02 PM EDT Sean Conlon Although President Donald Trump’s tariffs have posed a threat to the artificial intelligence boom, Jonathan Gray of Blackstone thinks there is more gas in the tank for data center usage demand. “I think this trend is powerful. I think […]
Warren Buffett’s Favorite Valuation Indicator Flashes Buy Signal
Summary by Bloomberg AI The “Buffett Indicator” measures the ratio of the US stock market’s total value to the dollar value of US gross domestic product and is currently at its lowest level since early September. The indicator is now at 180%, around where it stood after a brief selloff last year, and is signaling […]
China Hints at Possible Thaw With US in Weighing Trade Talks
Summary by Bloomberg AI China’s Commerce Ministry says it is evaluating the possibility of trade talks with the US, following senior US officials’ expressions of willingness to talk about tariffs. The ministry urges the US to show “sincerity” towards China, and Beijing has quietly started exempting around $40 billion worth of US goods from tariffs, […]
Employers Added 177,000 Jobs in April Despite Tariff Uncertainty – The Wall Street Journal
Hiring slowed slightly from March’s pace, while the unemployment rate held at 4.2% By Chao Deng and Justin Lahart May 2, 2025 The Wall Street Journal The U.S. labor market steadily added jobs last month despite jolting tariff announcements that many economists expect will give way to a trade policy-induced slowdown later this year. The […]
US INSIGHT: Three Big Takeaways From the US Economy This Week
Summary by Bloomberg AI First-quarter GDP shrank 0.3% due to a surge in imports, but domestic demand was strong, with final sales to domestic purchasers up 2.3%. The ISM Manufacturing PMI was better than expected, but supplier deliveries slowed, prices accelerated, and export orders were down. April’s jobs report was strong, with 177k payrolls, a […]