Tesla Inc.’s TSLA Cybertruck vehicles are reportedly piling outside the company’s gigafactory in Texas and collecting dust, forcing the company to resort to aggressive discounting. What Happened: According to a report by Forbes, the company’s inventory for the trucks is piling up owing to lower-than-expected sales. Tesla’s inventory in the U.S. still has model year
JPMorgan Chase & Co.‘s JPM J.P. Morgan Asset Management penned a deal to enhance its Morgan Money offering through a strategic partnership with GLMX, a global money market trading platform. Morgan Money is a global trading platform that provides effective short-term investment management solutions tailored for institutional investors. With $313 billion in assets under management as
Analog Devices, Inc. ADI stock traded higher Wednesday after the company reported fiscal third-quarter results. The company’s revenue declined 25% year-on-year to $2.31 billion, beating the analyst consensus estimate of $2.27 billion. Adjusted EPS of $1.58 beat the analyst consensus estimate of $1.50. Analog Devices’ Industrial revenue declined by 37% year-on-year to $1.06 billion. Automotive revenue decreased 8% Y/year-on-year to $670.3 million. Communications revenue declined
BioRestorative Therapies, Inc. BRTX shares are trading higher Monday after the company announced it has received notice from the Nasdaq Stock Market that it has regained compliance with listing requirements. The Details: BioRestorative Therapies reported a net loss for the first quarter of $2.2 million, or 33 cents per share, compared to a net loss
GlobalFoundries Inc GFS reported a fiscal second-quarter 2024 revenue decline of 12% year-on-year to $1.63 billion, beating the analyst consensus estimate of $1.62 billion. The contract chipmaker’s adjusted EPS of 38 cents beat the analyst consensus estimate of 28 cents. Smartphone and mobile device revenue fell by around 3% from a year ago, while industrial IOT revenue declined
The cannabis industry in Morocco is experiencing unprecedented growth after a few years of slow post-legalization activity. As reported by Morocco World News, nearly 3,000 cannabis-related licenses have been approved by the National Agency for the Regulation of Cannabis-Related Activities (ANRAC) since the beginning of 2024. This represents a significant increase from the total 609
Symbotic Inc SYM shares are tumbling in Monday’s after-hours session on the heels of the company’s third-quarter financial results. Q3 Earnings: Symbotic reported fiscal third-quarter revenue of $491.862 million, beating analyst estimates of $464.55 million, according to Benzinga Pro. The company reported an earnings loss of 2 cents per share, missing estimates for positive earnings