Author: theparknews

Faith in the path ahead. After months of contraction, the industrial sector is regaining confidence heading into 2025. “Cautious optimism is where we are today,” Goldman Sachs analyst Joe Ritchie said at the Goldman Sachs Industrials and Materials Conference last week. “Some companies are expecting further growth in 2025… It’s only a matter of time before that happens. It will be applied at some point in 2025.” According to recent data from the Institute for Supply Management (ISM), the industry has contracted for the past eight consecutive months and 24 of the past 25 months. The prolonged recession is weighing…

It’s been a long and tough road for many in the cryptocurrency world, but it’s finally happened. Bitcoin price crossed the $100,000 mark for the first time. In addition to making Bitcoin holders very happy given the digital currency has rallied more than 50% in the past two months, the milestone reached on Wednesday provides some validation that the digital asset is here to stay. I did. Ether (ETH=F), XRP (XRP-USD), and crypto-related stocks rise due to President-elect Donald Trump’s pledge to deregulate cryptocurrencies and the appointment of Paul Atkins as chairman of the Securities and Exchange Commission. This spurred…

Donald Trump’s recent tariff threats appear to be due, at least in part, to blockchain-based new entrants into the world of influential global financial messaging. The president-elect’s move was made public in a post Saturday afternoon in which he pledged to impose 100% tariffs on countries seeking to leave the dollar. “Any country that tries should say goodbye to America,” he wrote. The target was an organization called BRICS, which currently includes 10 countries and is led by China and Russia, enemies of the West. One new product appears to be a major stumbling block. “The immediate cause of President…

Billionaire Elon Musk, a key adviser to the incoming Trump administration, has set his sights on regulators that have often clashed with Silicon Valley investors seeking to enter the banking sector, calling for the abolition of the Consumer Financial Protection Bureau. I asked for it. “Delete the CFPB. Too many overlapping regulators,” Tesla’s CEO posted on his social media platform X shortly after midnight Wednesday. The comments came after Marc Andreessen, a well-known venture capitalist and Trump supporter, appeared on Joe Rogan’s podcast and said that the agency is “terrifying financial institutions” and “starting new companies trying to compete with…

Tesla stock (TSLA) fell on Monday after a strong recent rally, as one Wall Street bank said “animal spirits” were driving up the stock price beyond “fundamental changes” in the company. Joseph Spak of UBS noted that Tesla stock has risen about 40% since the election, adding more than $350 million in market capitalization. While some of President-elect Donald Trump’s policy proposals could benefit Tesla, there are also downsides to the policy that could hurt fundamentals more than the theoretical upside that would have pushed the stock higher. There are several. “The rise in Tesla stock is primarily driven by…

Only 30% of family businesses continue into the second generation. One reason for this is that nearly half of executives who expect to retire within five years have no successor. Used clothing retailer Buffalo Exchange bucked that trend in 2024 when Rebecca Block became CEO. Brock’s parents, Kirstin and Spencer, started the business with a single store in Tucson, Arizona, in 1974, when the used clothing market was still in its infancy. “Over the past 50 years, the whole concept of recycling and used clothing has changed a lot,” Block told Yahoo Finance. “People don’t see second-hand clothing as a…

Nvidia (NVDA) announced its third-quarter results after the bell on Wednesday, showing that the company’s high-performance AI chips will accelerate what CEO Jensen Huang called the “age of AI.” Sales exceeded expectations due to strong sales. Nvidia, the world’s largest publicly traded company by market capitalization, reported earnings per share (EPS) of $0.81 and revenue of $35.1 billion. Analysts had expected EPS of $0.74 and revenue of $33.2 billion. Nvidia also said it expects fourth-quarter revenue to be $37.5 billion, plus or minus 2%. This is slightly higher than Wall Street’s estimate of $37 billion. Nvidia’s stock seesawed Thursday morning,…

Nvidia (NVDA) will release its third quarter earnings after the bell today, giving Wall Street the best and most up-to-date information on the strength of the artificial intelligence industry. Nvidia’s stock price, the world’s largest publicly traded company by market capitalization, continued to soar throughout 2024, thanks to the explosive growth of AI in the technology industry and other sectors. Nvidia’s stock price has risen 192% since the beginning of the year as of Wednesday, easily outperforming the company’s rival chipmakers. Shares of its closest competitor, AMD (AMD), have fallen more than 5% since the beginning of the year, and…

Shares of Super Microcomputer (SMCI) rose more than 30% on Tuesday after the artificial intelligence server maker filed a compliance plan with the SEC a day earlier to avoid delisting from the Nasdaq. The company has partnered with Nvidia (NVDA) to provide high-tech servers powered by its AI chips, and recently signed a major contract to supply those servers to Elon Musk’s xAI, but the company’s compliance plans remain unclear. He said this indicates that the delayed submission of documents is progressing smoothly. The SEC will “update periodic reports within such discretionary period as Nasdaq staff may allow.” Investors filed…

Super Microcomputer Inc. (SMCI) said in a filing with the Securities and Exchange Commission late Monday that it has submitted a compliance plan to avoid delisting from the Nasdaq. The company said its compliance plan is on track to file delayed SEC filings and “update periodic reports within the discretionary period allowed by Nasdaq staff.” He said it shows. Barron’s reported after Friday’s bell, citing people familiar with the matter, that Supermicro would submit a plan to prevent delisting by Monday’s deadline. Supermicro shares soared more than 25% in after-hours trading following the filing late Monday. Shares rose about 16%…