Alibaba Earnings Preview: Will Alibaba's E-commerce and Cloud Business See A Turnaround In Q4? Chinese e-commerce and cloud behemoth $Alibaba(BABA)$ is set to report its Q4 FY24 results on May 14th. The report is expected to show only modest growth for the quarter, amid headwinds in the domestic e-commerce market and the company's cloud business seeing slow growth. Consensus Estimates - The company is projected to achieve a revenue of 219.83 billion CNY, representing a year-over-year increase of 5.59%. - Earnings per share are expected to be 5.41 CNY, down 39.89% from the year-ago quarter. Taobao & Tmall Group and cloud business seeing slow growth Over Q3 FY’24, revenue from the company’s Ta
S&P 500 Rises, Nvidia, Broadcom Trim Nasdaq Losses US stocks advanced, with the $S&P 500(.SPX)$ continuing its march near a record, buoyed by gains in consumer staples, technology, financials, healthcare and industrials. Semiconductor stocks, including AI-favorite $NVIDIA Corp(NVDA)$ rose, helping trim losses for $NASDAQ(.IXIC)$ after stellar revenue data from $Taiwan Semiconductor Manufacturing(TSM)$ quelled concerns over valuations.&nb
Options Market Statistics: Marathon Digital Holdings Shares Drop 12.67%, Analysts Lower Price Target, Options Pop $Tesla Motors(TSLA)$ shares ended 2.04% lower. Its options trading volume was 2.00 million. Call contracts account for 53.0% of the total trading volume. The most traded calls are contracts of $170 strike price that expire on May 10th. The total volume reaches 134,874 with an open interest of 19,102. BP's electric vehicle charging unit is reportedly looking to buy Tesla supercharging sites, including the workers at the locations, according to a report. BP plans to spend $1 billion by 2030 to install more than 3,000 charging locations across the US, with about $500 million of that to be spent
Elon Musk Says Tesla Will Spend 'Well Over' $500 Million on New EV Chargers Shares of $Tesla Motors(TSLA)$ were headed toward their first gain in four sessions on Friday, after electric-vehicle giant's chief executive, Elon Musk, seemed to again dispute recent reports that the company's Supercharger EV charging business unit was being shuttered. In a post on Musk's social-media platform X, formerly known as Twitter, he said Tesla would create "thousands" of new EV chargers by spending "well over $500 million" to expand its Supercharger network. The post comes after reports surfaced less than two weeks ago that Tesla had laid off about 500 employees as the Supercharger business was closed. Following the
Amazon, Taiwan Semi, AMD, Micron, and Other Tech Stocks in Focus Today Tech stocks look set to end the week with a flourish as the sector's solid May gathered momentum Friday. $Amazon.com(AMZN)$ rose in premarket trading after closing at a record high Thursday. Futures on the Nasdaq 100 rose 0.4% in early trading after the technology-heavy Nasdaq Composite Index closed 0.3% higher Thursday, snapping a two-day losing streak. The index is up 1.2% so far this week, and 4.4% this month, and is on track to build on that Friday. The chip sector, in particular, was poised for solid gains after $Taiwan Semiconductor Manufacturing(TSM)$ &nbs
'Power-hungry' AI Data Centres and the Power Generation Companies to Watch As artificial intelligence (AI) continues to revolutionize industries, the amount of computational power needed to support the growth of AI is increasing at a rapid pace, doubling approximately every 100 days. AI and Energy Demand $Goldman Sachs(GS)$ has explored the implications of AI on the demand for global power. The bank's global investment research (GIR) team issued a report that suggests power requirements for global data centers will likely more than double by 2030. This increase is expected to boost the compound annual growth rate (CAGR) of electricity demand in the United States to 2.4%. Experts predict that from 2023 to 2030, power demand for data cen
Options Market Statistics: Roblox Shares Drop and Options Pop As Company Cuts Annual Bookings Forecast On Muted Player Spending $Energy Transfer LP(ET)$ shares ended 0.12% lower, with option volume of nearly 2.45 million contracts, and calls accounted for 99.2% of the volume. The $12 calls expiring Jan. 17, 2025 were traded most actively. Energy Transfer just reported results for the first quarter of 2024. Energy Transfer reported earnings per share of 32 cents. This was below the analyst estimate for EPS of 40 cents. The company reported revenue of $21.63 billion. This was 2.80% better than the analyst estimate for revenue of $21.04 billion. $Robinhood(HOOD)$ shares ended 3.08% lo
GameStop Shares Surge Again to Register Highest Close Since December Shares of videogame retailer and original meme stock climbed more than 13% Thursday $GameStop(GME)$ Corp. shares ended Thursday's session up 13.1% to register their highest close since December amid a resurgence for the videogame retailer and original meme stock. The stock (GME) ended the session at $18.01, its highest close since Dec. 28, when it ended at $18.07. GameStop shares also recorded their biggest single daily percentage gain since May 3, when they climbed 29.1%. Short interest as a percentage of GameStop's public float of shares is 24.1%, according to the latest exchange data. GameStop surged on trading volume of 25.39 million shares, well above its average
Intel, Amazon, Palantir, Super Micro, and Other Tech Stocks in Focus Today Tech stocks look set for another challenging day as corporate earnings keep AI-exposed companies under pressure. Futures on the Nasdaq 100 fell 0.3% early Thursday after the technology-heavy Nasdaq Composite Index closed lower for the second consecutive day Wednesday. Arm Holdings was the latest tech company to disappoint investors following its quarterly earnings report. The stock tumbled 8.3% as the chip designer's revenue guidance, while higher than Wall Street's midpoint estimate, failed to inspire the market. Several AI-exposed stocks, such as $Palantir Technologies Inc.(PLTR)$ , $Advanced Micr