Daily Newsroom
Follow market-moving stories, policy signals, and company developments curated by the editorial desk.
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German insurer Allianz SE plans to reduce its workforce by 1,500 to 1,800 positions at its Allianz Partners subsidiary in Europe. The company attributed the job cuts to the implementation of artificial intelligence solutions.
Shares of the energy giant climbed after the company signaled a substantial increase in second-quarter profits, a forecast bolstered by a surge in crude oil prices following new hostilities in the Strait of Hormuz.
Wells Fargo has begun coverage of AT&T, Verizon, and T-Mobile with a cautious outlook, identifying SpaceX's Starlink satellite service as a growing competitive risk to the industry.
Citi Research has raised its rating on automotive supplier Forvia to 'Buy' from 'Neutral,' anticipating that a reaffirmation of the company's full-year guidance will help the stock recover from its recent downturn.
Shares of the energy giant climbed in pre-market trading, driven by a surge in crude oil prices following reports of attacks on vessels in the Strait of Hormuz and a U.S. policy shift on Iranian oil sales.
Bank of America clients became net buyers of U.S. equities for the first time in five weeks, purchasing a net $4 billion in the week ending July 3. The shift was primarily driven by strong buying from hedge funds, which have now been net buyers for four consecutive weeks.
Chevron has announced it will allow rival oil producers to use its proprietary chemical technology designed to increase output from shale wells. The move aims to address declining well productivity across the U.S. shale industry.
Citing increased volatility in Asia and concerns over the sustainability of AI-related spending, HSBC has closed its "overweight" recommendation for emerging market equities.
Sunrun's stock increased following the announcement of a pilot program to create a distributed AI data center network using its customers' home solar and battery systems. The initiative aims to process AI workloads by installing compute nodes in customer homes.
