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Volkswagen To Introduce Affordable Electric Cars Priced At 20,000 Euros In Europe

Anan Ashraf | May 29, 2024

German automaker Volkswagen (OTC:VWAGY) on Tuesday revealed that the company has been working on developing electric vehicles priced at around 20,000 euros ($21,702), the world premiere of which is scheduled for 2027. What Happened: “The future is electric. In order for electromobility to become widespread, attractive vehicles are needed, especially in the entry-level segment,” CEO […]

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Lilly Invests Further $5.3 Billion In New Indiana Site as Obesity Drug Demand Soars

Reuters | May 24, 2024

By Patrick Wingrove (Reuters) -Eli Lilly said on Friday it has invested another $5.3 billion in its new Lebanon, Indiana manufacturing plant, more than doubling its previous investment, as it scrambles to meet soaring demand for its weight-loss and diabetes drugs. The new investment, which brings the total to $9 billion, will help boost production […]

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US home sales post second straight monthly drop; house prices accelerate

Reuters | May 22, 2024

By Lucia Mutikani WASHINGTON (Reuters) – U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though the report from the National Association of Realtors on Wednesday showed inventory increasing last month to a 2-1/2-year high entry-level homes remained scarce, […]

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Big Airbus order overshadows Boeing at Riyadh conference

Reuters | May 20, 2024

By Pesha Magid RIYADH (Reuters) -Saudia Group, owner of Saudia airline and budget carrier flyadeal, placed a hefty order for 105 Airbus narrow-body aircraft on Monday, marking a bounce-back for the European planemaker just months after Boeing had been tipped to win more Saudi business. Ibrahim Al Omar, Saudia Group’s director general, described the order […]

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US stocks lose steam after Dow hits milestone 40,000 mark

Reuters | May 16, 2024

By Chibuike Oguh and Bansari Mayur Kamdar NEW YORK (Reuters) -U.S. stocks closed lower on Thursday after the Dow reached an intra-day high of 40,000 for the first time, as investors continued to recalibrate their rate-cut expectations following data showing a slowdown in inflation, as well as strong corporate earnings results. Early gains in equities […]

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Morgan Stanley to buy $700 million property loans tied to failed Signature Bank

Reuters | May 15, 2024

(Reuters) -Morgan Stanley has struck a deal with an investor group to buy $700 million of property loans tied to the failed Signature Bank, Bloomberg News reported on Wednesday citing people familiar with the matter. The loans were held by a cohort including asset management giant Blackstone, Canada Pension Plan Investment Board (CPPIB) and investment […]

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These 10 Large Cap Stocks Shined Brightest Last Week (May 5-May 11, 2024): Are They In Your Portfolio?

Lekha Gupta | May 12, 2024

These large-cap stocks were the best performers in the last week. Are they in your portfolio? Teva Pharmaceutical Industries (NYSE:TEVA) shares surged 16.24% after the company reported mixed Q1 financial results and announced results from the efficacy portion of the Phase 3 SOLARIS trial of TEV-‘749 in adult patients with schizophrenia compared to placebo. Toast, Inc. Class A (NYSE:TOST) shares […]

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Robinhood Shares Gain As Retail Trading Rebound Powers Record Quarter

Reuters | May 9, 2024

By Manya Saini (Reuters) -Robinhood Markets rose in morning trade on Thursday after reporting record first-quarter revenue and profit thanks to mom-and-pop investors returning to its commission-free platform to trade cryptocurrencies. Retail trading has been on the road to recovery since bitcoin and U.S. stocks scaled all-time highs earlier this year, helped by bets of […]

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Wall Street Stutters After Disney, Palantir Earnings Frustrate: Apple Event, ‘Bull Market Is Back’

Shanthi Rexaline | May 7, 2024

The recent market recovery shows signs of a slight falter. Index futures indicate a mixed open on Tuesday. Negative reactions to earnings from AI-linked company Palantir Technologies (NYSE:PLTR) could weigh on the tech sector. Surprisingly, Walt Disney Co. (NYSE:DIS) shares fell sharply pre-market despite reporting a profit and its direct-to-consumer business turning a profit for the first time. Traders […]

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Why Is Chocolate Maker Hershey’s Stock Ticking Higher Today?

Shivani Kumaresan | May 3, 2024

Hershey Company (NYSE:HSY) shares are trading higher after the reported better-than-expected first-quarter FY24 earnings. The company reported first-quarter FY24 sales growth of 8.9% year-on-year to $3.252 billion, beating the analyst consensus estimate of $3.112 billion. Hershey’s North America Confectionery segment net sales rose 10.4% Y/Y to $2.707 billion. Sales for Hershey’s International segment increased 1.8% to $270.3 […]

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