Ford shares tumble 13% after massive earnings miss
The automaker increased its target for free cash flow but maintained its 2024 earnings guidance, disappointing some investors who had hoped for a hike.
Salt Lake City to host 2034 Winter Games while French Alps get tentative 2030 nod
The Winter Games will return to their 2002 site in the Utah capital.
Mortgage demand drops, as homebuyers wait for lower rates
Mortgage interest rates eased very slightly last week, but not enough to get today’s potential homebuyers off the fence.
10-year Treasury yield dips as investors closely monitor economic data
Treasury yields slipped on Wednesday as investors looked ahead to a fresh batch of economic data and considered the outlook for the U.S. economy.
Elon Musk wants Tesla to invest $5 billion into his newest startup, xAI — if shareholders approve
During the Tuesday earnings call, shareholders asked Musk whether Tesla might invest in xAI and integrate xAI’s software, named Grok, into its vehicles.
Tesla’s profit margin is getting hammered by EV discounts and hefty AI spending
Tesla’s adjusted operating margin shrank to its lowest in three years in the second quarter, contributing to a plunge in the stock price.
OpenAI reassigns top AI safety executive Aleksandr Madry to role focused on AI reasoning
OpenAI last week removed Aleksander Madry, one of OpenAI’s top safety executives, from his role, reassigning him to AI reasoning, according to sources.
AI startup Cohere cuts staff after $500 million funding round
Cohere, the artificial intelligence startup founded by ex-Google AI researchers and backed by Nvidia, cut about 20 roles on Tuesday, CNBC confirmed.
BofA Securities’ Savita Subramanian says there’s opportunity in this corner of the market that isn’t getting attention
The firm’s head of U.S. equity and quantitative strategy favors what she calls “old school capex” stocks that have yet to price in any AI gains.
Sen. Bob Menendez will resign seat Aug. 20 after bribery conviction
New Jersey Gov. Phil Murphy, a Democrat, will appoint someone to replace Sen. Bob Menendez in the Senate.
