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FINANCIAL NEWS
Airbnb Shares Fall Amid Q2 Concerns and US Travel Sector Challenges

Airbnb shares dropped 13% as the company predicted a decline in Q2 bookings and average daily rates. The US travel sector's resilience faces challenges from inflation and high travel costs, prompting concerns among investors.

All eyes on Google as it's expected to answer to Microsoft's AI search challenge

Google is set to unveil advancements in artificial intelligence (AI) for its products at the annual I/O conference, aiming to counter Microsoft's growing influence in the $300-billion search advertising market. Under Project Magi, Google plans to enhance its search engine with generative AI technology, which could transform how consumers access information. Microsoft's Bing has gained US market share thanks to its integration of AI chatbots like ChatGPT. In response, Google is introducing new technology, such as Bard, a ChatGPT rival, and developing a more potent AI model called PaLM 2.

Faraday Future Secures $100M to Boost Production and Deliveries of FF 91 Futurist Vehicle

Electric vehicle startup Faraday Future raises $100 million in debt funding to support production and initial deliveries of its FF 91 Futurist vehicle, following multiple delays. The company plans to use the funds to accelerate production, develop its sales and service system, and achieve near-term ramp-up goals.

Investor Anxiety Rises as Demand for Crash Protection Surges to Multi-Month Highs

Investors are increasingly seeking insurance against a potential stock market crash, as demand for such protection hits multi-month highs. The three-month skew on the S&P 500 has risen to its highest level since December 2021, indicating a sense of unease among investors. However, history shows that heightened anxiety can actually bode well for stocks, as it may provide the fuel for a potential melt-up in the market.

Ryanair set to buy up to 300 Boeing jets

Ryanair has signed a multi-billion-dollar deal with Boeing to acquire up to 300 Boeing 737 Max-10 aircraft, ending an 18-month dispute over pricing. Valued at over $40 billion at list prices, the deal includes 150 options and deliveries are scheduled between 2027 and 2033. The agreement is expected to boost the largest version of Boeing's 737 MAX, create over 10,000 new jobs, and support an 80% increase in traffic growth for Ryanair, from 168 million passengers to 300 million by March 2034.

U.S. Stocks Struggle for Direction as Investors Await Key Inflation Data

U.S. stocks paused on Monday, struggling for direction due to disappointing earnings from Tyson Foods and Catalent, and a brief rebound in regional banks. Investors are now focusing on key inflation data set to release later this week.

Kenvue Inc. Closes IPO, Raises $22.00 Per Share, Johnson & Johnson Retains Majority Stake

Kenvue Inc. successfully closed its IPO on May 4, 2023, offering 198,734,444 shares at $22.00 each. Johnson & Johnson retains an 89.6% stake in the company, whose shares now trade on the NYSE as "KVUE." The IPO proceeds will compensate Johnson & Johnson for the transferred consumer health businesses.

Chip stocks jump as Micron's postive forecast suggests "worst is over"

After company executives suggested that the market may be reaching a bottom in conjunction with reporting its fiscal second-quarter results, shares of Micron Technology Inc. gained more than 7% on Wednesday.

Alibaba to split empire into 6 groups in largest organizational shift

In the most significant structural overhaul in Alibaba's history, the Chinese e-commerce giant on Tuesday said it would split its $220 billion empire into six business groups, each able to raise outside funding and go public.

Tesla witnesses surging sales in Australia; remains top EV brand

In a sign that one of the developed world's most reluctant adopters of electric vehicles is finally shifting, there has been a noticeable increase in Teslas on Australian roads in recent months. 

Nio shares surge amid CFO's strong confidence in 250K sales target

According to Chief Financial Officer Steven Feng, Nio Inc. is "very confident" of meeting its target of doubling sales to 250,000 electric vehicles in 2023, prompting shares of the Chinese electric vehicle maker to surge in Hong Kong.

Baidu shares soar after Enie Bot receives high praise from analysts

On Friday, Baidu Inc. experienced a surge of over 14% after various brokerages, including Citigroup, tested the company's recently revealed ChatGPT-like service and granted it provisional approval.

Adobe raises outlook following solid earings release, share climb

After Adobe posted quarterly earnings that topped its own guidance and Street estimates, shares of the content development and marketing software company rallied in late trading Wednesday.

Google brings generative AI to Gmail and Docs, more features to come

On Tuesday, Google introduced features that will let users create text in Gmail and Docs using the company's AI technology as the company battles for dominance in the burgeoning field with rivals like Microsoft Corp and OpenAI.

Meta announces more layoffs, to slash thousands of jobs and open positions

Warning that economic instability may continue for "many years," Meta CEO Mark Zuckerberg announced Tuesday the company would lay off 10,000 more workers and incur restructuring costs ranging from $3 billion to $5 billion.

Oracle's latest earnings results fail to meet expectations, shares drop

After enterprise tech giant Oracle reported financial results for its 2023 fiscal third quarter that failed to meet expectations for higher growth, the stock dropped nearly 5% in after-hours trading Thursday.

Microsoft address Sony's concerns over Activision Blizzard deal

Sony Group Corp. laid out more concerns to the UK's antitrust watchdog about Microsoft Corp.'s planned acquisition of Activision Blizzard, now suggesting that Microsoft could kneecap (although unintentionally) the performance and quality of "Call of Duty" on PlayStation, with fans moving over to Xbox.

Demand for Apple's iPhones return to China, says Wedbush analyst

Longtime Apple bull and Wedbush analyst, Dan Ives, increased his price target on Apple stock from $180 to $190 and maintained his Outperform rating, noting Beijing rolling back the country's strict zero-Covid-19 lockdown policy earlier that month.

Salesforce jumps on AI bandwagon, adds ''Einstein GPT'' into software

Salesforce, the global leader in CRM, has been toying with artificial intelligence software for years. Now, the software giant is jumping on the AI bandwagon as it joins chatbot pioneer Open AI to provide "generative" AI tools across its software business.

Snap shares surge on US lawmaker initiatives to ban TikTok

Snap Inc. shares rose sharply on Monday as lawmaker initiatives to ban TikTok appeared to be gaining momentum in the US.

C3.ai jumps 31.5% on upbeat earings and continued popularity in AI

In trading on Friday, shares of C3.ai jumped as much as 31.5% after the company reported financial results for its 2023 fiscal third quarter, which beat across the board.

Broadcom predicts robust network revenue growth amid increasing AI investments

In a deteriorating economy, where consumer and enterprise spending is declining, Broadcom Inc. "predicted a soft landing" as increased investments in artificial intelligence spur demand for its chips used in data centers.

Salesforce sees profitability rising, potentially easing pressure from activist investors

Potentially easing the pressure from a team of activist investors, Salesforce Inc. gave a surprisingly upbeat forecast for the coming year and plans to step up stock buybacks.

Rivian reports mixed earnings, issues another recall for electric trucks

While earnings season has essentially come to an end, after the bell on Tuesday, Rivian Automotive Inc. reported mixed fourth-quarter earnings and a lackluster production outlook that fell short of Wall Street's expectations

MARKET ANALYSIS: How to capitalize on the breakthrough of AI?

In the past two months, you may not have been able to escape it either. AI had a major breakthrough into most living rooms through the popular chatbot ChatGPT, which was launched as a free service by start-up OpenAI on November 30. The speed of its adoption was particularly amazing and came as a surprise to most investors. With most of the big names in the technology sector all pulling the AI card, it might be interesting to take a moment to consider the potential opportunities this new revolution brings.

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