19 May

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Tesla Slides as Crypto Plummets, Even as Musk Tweets Diamond Hands By Investing.com

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By Dhirendra Tripathi Investing.com – Tesla (NASDAQ:TSLA) shares erased some of their losses but were still down more than 3% amid a collapse in cryptocurrency prices, even as Elon Musk tried to salvage the situation by tweeting ‘Diamond hands.’ The ‘Diamond hands’ signal that the EV maker's CEO is prepared for the long haul in defending Bitcoin (BitfinexUSD), the biggest crypto and his favorite till a week ago before he switched his loyalty to Dogecoin. Musk’s tweet helped Bitcoin recoup some of the losses after plunging to $30,000 earlier in the day, the fall precipitated by...

19 May

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German electric car start-up e.Go Mobile eyes Mexico entry By Reuters

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MEXICO CITY (Reuters) - German electric car start-up e.Go Mobile said on Wednesday it plans to enter the Mexico market and launch a production plant in Latin America's second-biggest economy. e.Go will enter Mexico with "strategic and technology partner" QUESTUM, a subsidiary of Monterrey-based industrial consortium Grupo Quimmco, the company said in a statement. e.Go is positioning itself at the lower end of the electric vehicles market, seeking to launch a series of small budget cars that would be affordable for the wider population. It also makes light electric buses and electric vans. Ali Vezvaei, chairman...

19 May

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AMD Jumps On $4 Billion Share Repurchase Plan By Investing.com

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By Dhirendra Tripathi Investing.com – Shares of Advanced Micro Devices (NASDAQ:AMD) rose more than 3% Wednesday, after the company announced a $4 billion share buyback plan. AMD expects to fund repurchases through cash generated from operations “which have been strengthened by the company’s strong operational results”, the company said. Revenue for the first quarter ending March 27 was $3.45 billion, up 93% from the same period a year ago. Net income was $642 million, up 189%. The company’s cash, cash equivalents and short-term investments as of March 27 came at $3.12 billion, according to its April 27...

19 May

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Take-Two Rises on Strong Results, But Price Targets Lowered on Guidance By Investing.com

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By Christiana Sciaudone Investing.com -- Take-Two (NASDAQ:TTWO) Interactive rose 4.5% after easily beating estimates for the fiscal fourth quarter. Earnings per share of $1.40 beat the expected 68 cents on sales of $784.5 million, better than the forecast of $661.3 million, according to data compiled by Investing.com. But analysts lowered their price targets on the stock on guidance that missed market estimates. The company projected a profit of 80 cents per share, versus the expected 88 cents per share, according to StreetInsider. Full-year guidance also fell short, with forecasted revenue of no more than $3.3...

19 May

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Axon Gains As Raymond James Upgrades It By Two Notches By Investing.com

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By Dhirendra Tripathi Investing.com – Axon Enterprise (NASDAQ:AXON) shares rose more than 2% Wednesday, boosted by an upgrade from Raymond James to a strong buy with a target of $150. The target is 19% higher from the stock’s current price of $126. Analyst Brian Gesuale attributed his latest recommendation that is two notches higher from his previous rating to the stock’s recent reverses, making it attractive now. He also pointed out that Axon has constantly exceeded the brokerage’s expectations. The current valuation "understates the improving ARR (annual recurring revenue) , adjacent market growth, mix shift and...

19 May

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Airbus to end production at one Spanish plant By Reuters

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PARIS/MADRID (Reuters) -Airbus is discussing plans to combine the operations of its two aerospace factories in Cadiz, southern Spain, into one plant spanning civil and defence activities, a spokesman said. The politically sensitive move could lead to one of the first significant factory closures in the company's 50-year history and reflects a slump in demand for the world's largest jets, following a halt in production of the A380 superjumbo. The proposal, which is subject to final union negotiations on matters such investment, would avoid compulsory redundancies in Airbus's wider workforce in Spain: one of its core...

19 May

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Qualtrics Gains on BofA Hike to Buy, Citing Sustainable Growth By Investing.com

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By Dhirendra Tripathi Investing.com – Qualtrics (NASDAQ:XM) shares rose more than 2% Wednesday after BofA Securities (NYSE:BAC) upgraded the stock to buy with a $45 target. BofA analyst Daniel Bartus attributed its optimism to the company’s valuations being attractive and its revenue growth looking sustainable. Bartus said the positives include the company’s "leadership position in an emerging CX (customer experience) market and the SAP relationship extending Qualtrics' reach." Qualtrics makes software that helps companies engage better with their consumers and employees. The company went public in February. "With Qualtrics appearing more and more like the potential...

19 May

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Austria’s S Immo says rival Immofinanz’s 1.1 billion euro bid is too low By Reuters

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(Reuters) - Vienna-based real estate group S Immo said on Wednesday that rival Immofinanz's 1.14 billion euro ($1.39 billion) offer to buy the company is too low. S Immo said Immofinanz's offer price was well below S Immo's net asset value and did not take into account the value analysis of its property portfolio it had conducted last month. Discussions over a tie-up between the two companies have been ongoing for years. In 2019, they abandoned talks after failing to agree on a share exchange ratio. Analysts have long said consolidation among Austria's three remaining...

19 May

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Pendragon shareholders narrowly approve directors’ pay By Reuters

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(Reuters) - Pendragon shareholders on Wednesday narrowly approved the resolutions on directors' pay and the re-election of remuneration committee chairman at the annual general meeting (AGM), after the company cut hundreds of jobs to get through the pandemic. The British car dealership, which reduced 1,800 jobs last July amid a drastic drop in income due to COVID-19-related lockdowns, said only 57.58% of votes cast in the AGM were in favour of the resolution to approve the directors' remuneration. The resolution to approve the re-election of M.D. Wright, the chairman of the remuneration committee, as a director...

19 May

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Britain will prosper, PM Johnson says when asked about Australia trade deal By Reuters

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LONDON (Reuters) - Prime Minister Boris Johnson said on Wednesday Britain would prosper with new trade deals when asked whether he was preparing to grant tariff-free access for lamb and beef from Australia in a new agreement. Johnson did not answer directly the question in parliament from the Scottish National Party, but said: "I think there is massive opportunity for Scotland and for the whole of the UK (with free trade deals)" ...

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Tesla Slides as Crypto Plummets, Even as Musk Tweets Diamond Hands By Investing.com

German electric car start-up e.Go Mobile eyes Mexico entry By Reuters

AMD Jumps On $4 Billion Share Repurchase Plan By Investing.com

Take-Two Rises on Strong Results, But Price Targets Lowered on Guidance By Investing.com

Axon Gains As Raymond James Upgrades It By Two Notches By Investing.com

Airbus to end production at one Spanish plant By Reuters

Qualtrics Gains on BofA Hike to Buy, Citing Sustainable Growth By Investing.com

Austria’s S Immo says rival Immofinanz’s 1.1 billion euro bid is too low By Reuters

Pendragon shareholders narrowly approve directors’ pay By Reuters

Britain will prosper, PM Johnson says when asked about Australia trade deal By Reuters

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