Author: franperez66q@protonmail.com
Since its first trade on June 12, SpaceX has lost over $500 billion in market cap, a stunning blow to retail investors who jumped into Elon Musk’s rocket company at their first opportunity. The stock is coming off its fourth straight weekly loss and is more than 50% off its intraday high.Not since Facebook’s IPO in 2012 have tech investors seen such a high-profile offering lead to such early disappointment. Facebook stumbled out of the gate and trended lower for months before bottoming at less than half its IPO price. But Facebook’s total market cap after its first day of…
For months, I have been after Amazon CEO Andy Jassy to give us “line of sight” into something that can explain why they’re is spending so much money building out all of these data centers. I wanted to know if this is just some sort of rainbow without a pot of gold, or whether there really is a there there. It’s among our biggest positions in the Club portfolio, and I was getting pretty darned antsy that I was into a far more dicey situation than when we first bought the stock almost a decade ago. So, I kept hammering…
A woman and a child walk past Iranian-made Zolfaghar missiles displayed at Azadi Square in Tehran on July 24, 2026. Afp | Getty ImagesPresident Donald Trump has warned that the latest round of negotiations with Iran is the “last chance” to bring an end to the five-month conflict. Trump told reporters in the Oval Office late on Monday that talks are “going on right now,” at the request of Iran, Saudi Arabia, the United Arab Emirates, Qatar and others.However, Tehran continues to deny that any direct negotiations with the U.S. are taking place — or that there are plans to…
Britain’s BP on Tuesday reported a sharp upswing in second-quarter profit, as energy supermajors reap massive profits from higher fossil fuel prices amid hostilities between the U.S. and Iran.The oil giant posted underlying replacement cost profit, used as a proxy for net profit, of $5.7 billion for the April to June period. That comfortably beat analyst expectations of $5 billion, according to an LSEG-compiled consensus.BP’s net profit came in at $2.35 billion over the same period last year and $3.2 billion for the first three months of 2026.The results come as oil and gas prices have surged amid the sprawling…
Nikolas Kokovlis | Nurphoto | Getty ImagesVisa on Monday said it is acquiring fraud detection startup BioCatch for $2.4 billion in cash, expanding the payment giant’s push into cybersecurity as banks confront a surge in artificial intelligence-powered scams and account takeovers.Under the deal, Visa will get BioCatch’s behavioral biometrics platform, which analyzes data including keystroke timing, touch screen pressure and other signals to distinguish real users from scammers and bots. Visa said it is acquiring the firm from London-based private equity firm Permira and other investors.The acquisition underscores how payments companies are racing to strengthen fraud defenses as generative AI…
Saudi Aramco on Tuesday reported a jump in second-quarter profit, following a period of severe disruption through the Strait of Hormuz amid the sprawling Middle East conflict.The world’s largest oil company posted adjusted net income of 125.2 billion Saudi riyal ($33.4 billion) over the April to June period, up 33% year-on-year and beating analyst expectations of $31.59 billion. The results come as oil supermajors have reported blowout quarterly profits, benefitting from higher fossil fuel prices amid hostilities between the U.S. and Iran.The more than five-month-old conflict, which was already expanding beyond its main fronts, has embroiled further countries in the…
Shares of Amazon hit a new all-time high on Monday, putting its market cap over the $3 trillion threshold for the first time following a better-than-expected earnings report last week.Monday’s new record is the best day for Amazon since May 5. Shares closed up 4%.The jump comes after the company reported a surge in cloud growth during the second quarter on the back of strong artificial intelligence demand. It reported adjusted earnings per share of $1.97 versus estimates of $1.82 per share. Revenue came in at $200.61 billion, beating the $196.47 billion analysts estimated.The Q2 print also saw Amazon hike…
CNBC’s Jim Cramer said on Monday that Amazon CEO Andy Jassy’s earnings call changed how Wall Street views massive artificial intelligence investments.”Until Jassy spoke, the market seemed highly skeptical of how these megacap tech companies were spending money,” the “Mad Money” host said. “That’s no longer the case.”For months, investors had questioned whether the hyperscalers’ enormous spending on the AI buildout would ever translate into meaningful returns. Cramer said Jassy’s explanation on Amazon’s earnings call finally gave Wall Street the “line of sight” it needed to understand how those investments will pay off.”It was Jassy’s calm, thoughtful presentation that allowed…
CANADA – 2026/06/23: In this photo illustration, the Grab logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)Sopa Images | Lightrocket | Getty ImagesGrab, Southeast Asia’s leading ride-hailing and delivery firm, raised its full-year outlook on Tuesday as it reported record second-quarter results, with resilient consumer demand across the region holding up despite macroeconomic headwinds. Shares of the Nasdaq-listed company rose 4.86% in extended trading. “AI is now embedded in the Grab way of life, whether it’s in our products or the way we work,” Grab CFO Peter Oey told CNBC’s “Squawk Box Asia”,…
Palantir topped second-quarter earnings estimates on Monday and said commercial revenue more than doubled from a year ago. The stock surged 12% after the numbers were released.Here’s how the company did versus LSEG estimates:Earnings per share: 41 cents adj. vs. 35 cents expectedRevenue: $1.94 billion vs. $1.80 billion expectedRevenue climbed 93% from about $1 billion a year ago. Palantir reported net income of $1.07 billion, or 41 cents per share, compared to about $329 million, or 13 cents per share in the year-ago quarter.”Forget consensus,” CEO Alex Karp told CNBC’s Seema Mody in an exclusive interview. “To my knowledge, no…