headlines...by halloapp

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11-05-2023

TECH

• Elon Musk’s AI startup xAI introduces Grok, a chatbot with real-time access to information and a sarcastic sense of humor.

• Indian edtech company Byju’s reports $271 million loss and revenue of $429.18 million, missing projected revenue of $1.25 billion.

• Social media platform X, formerly known as Twitter, is creating a marketplace to sell inactive handles for $50,000 each.

• Novabase S.G.P.S shareholders have achieved a 23% CAGR in the past five years, while BM GreenTech and BHP Group shareholders earned 12% and 18% CAGRs respectively.

• Apple’s stock has outperformed the S&P 500, rising 22% in the past year and 246% over five years. Analysts have mixed views on Q4 2023 results.

• Davis Funds’ Q3 2023 investor letter reveals Meta Platforms (NASDAQ:META) as the 3rd most favored stock by hedge funds, while Davis New York Venture Fund mentions Amazon as the 2nd most popular.

• Consumer Walk has ranked early Black Friday deals on Apple Watch Series 9 and Google Pixel phones of various models and sizes.

• The AFROTECH Conference 2023 in Austin, TX, highlights Black excellence with influential speakers, music performances, and empowering sessions. It will return in 2024. The ongoing conference includes an Expo Hall and top-tier events, with Rick Ross performing at the AFROTECH Music experience.

MEDIA

• At WWE Crown Jewel 2023, Roman Reigns retained his WWE Universal Championship, Cody Rhodes defeated Damian Priest, and Logan Paul won the United States Championship. Seth Rollins also emerged victorious against Drew McIntyre.

• Sir Will Lewis, former CEO of Dow Jones and publisher of The Wall Street Journal, has been appointed as the new CEO and publisher of The Washington Post. The media outlet plans to reduce staff and cut costs under his leadership.

• President Biden’s unwavering support for Israel during the Gaza war is causing backlash among Arab American voters and dividing his 2024 campaign team. The conflict is also deepening divisions among US Jews and raising concerns about Middle Eastern investment in US media and entertainment.

• SAG-AFTRA receives “last, best, and final offer” from studios after 114-day strike; resolution not expected immediately.

• Russell Brand is facing a sexual assault lawsuit by an unnamed actress who accuses him of assaulting her on the set of the film “Arthur” in 2010. Warner Bros is also named in the lawsuit.

• Matthew Perry, known for his role as Chandler Bing on ”Friends,” was buried in Los Angeles with family and Friends castmates attending.

• Missy Elliott, Willie Nelson, Sheryl Crow, Chaka Khan, and DJ Kool Herc were inducted into the Rock & Roll Hall of Fame.

• Black Friday 2023 will have deals on Samsung Smart TVs including 4K UHD, 8K, OLED, QLED, and LED models. Gaming TVs will also have discounts with high refresh rates, low input lag, HDR technology, and 4K or 8K resolutions.

• fuboTV beats Q3 2023 earnings expectations with an EPS of $-0.00029 and reports $313 million in total revenue, up 43% YoY.

CONSUMER

• YKGI Limited, Ralph Lauren, and JD.com have experienced stock declines, but their strong fundamentals indicate potential for recovery and growth.

• Tempur Sealy International will pay a dividend of $0.11 on December 4th, with a dividend yield of 1.1%. Q3 earnings of $0.77 EPS missed expectations, but the company is optimistic.

• Kendra Krugman, Chief Merchandising Officer of Carter’s Inc, sold 2,000 shares, raising concerns about insider sentiment. President and COO Brian Lynch also sold 19,500 shares.

• ACCO Brands Corp’s Q3 2023 sales were weaker than expected due to lower consumer and business spending, but they are focused on managing costs and maintaining gross margin. Meanwhile, their Q3 earnings were at the high end of expectations, but sales were down 10% due to challenging demand in gaming and computer accessories. The company remains confident in long-term growth and is focused on innovation and cost reduction.

• Interface, Inc. experienced a 5.1% decline in Q3 2023 revenue, attributed to a struggling retail sector, but saw growth in healthcare and education.

• A study revealed that 6% of pet owners spent more than $2,000 on their pets this year, showing their strong affection and generosity towards their furry companions.

REAL ESTATE

• Kennedy-Wilson Holdings sees growth in investment management and global multifamily portfolio, Fitell Corporation plans expansion despite revenue decline, CRA International faces lower revenue in Q3 2023, and Teleflex Incorporated reports Q3 results.

• The National Association of Realtors and brokerages face a $1.8 billion verdict, potentially leading to lower real estate fees and a 30% reduction in annual commissions paid by Americans.

• NexPoint Real Estate Finance had a Q3 2023 net loss of $0.82 per share but increased net interest income by 14.3%. Sixth Street Specialty Lending had strong Q3 2023 results with $0.60 per share in adjusted net investment income. New Mountain Finance Corporation covered its dividend with $0.40 per share in adjusted net investment income for Q3 2023. Northwest Natural Holding Co reported a 20% increase in net income per share for Q3 2023 and announced a dividend increase, marking 68 years of consecutive increases.

• US mortgage interest rates have decreased due to a cooling economy, with the average 30-year rate at 7.4-7.76%.

TRAVEL

• Experts share tips on how to find last-minute travel deals for the upcoming holiday season, such as using flight search engines and contacting hotels directly.

• Travelers can take advantage of lesser-known refunds such as tax refunds, hotel price guarantees, and flight disruption compensation.

ECONOMIC

• Berkshire Hathaway reported a Q3 loss of $12.8 billion, but operating earnings rose 41% and cash holdings reached a record $157 billion.

• Retiring at different ages with varying amounts of savings requires careful planning, considering factors such as expenses, healthcare costs, and income streams.

• China’s Premier Li Qiang pledges to expand market access, boost imports, and remove barriers to foreign investment at the China International Import Expo.

• Australian Prime Minister Anthony Albanese seeks dialogue, cooperation, and improved bilateral relations during his visit to China, emphasizing the importance of eliminating trade barriers and addressing human rights concerns.

• Baron Partners Fund outperforms in Financials, Baron Focused Growth Fund highlights top contributors, Baron Fifth Avenue Growth Fund and Baron Durable Advantage Fund face losses, Baron New Asia Fund underperforms, Baron Emerging Markets Fund declines, Baron Opportunity Fund slightly underperforms.

CRYPTO

• Prominent crypto figure Sam Bankman-Fried, founder of FTX, has been convicted on fraud charges, potentially facing over 100 years in prison.

• CleanSpark, an American Bitcoin miner, has reached a hashrate of 10 EH/s with 89,000 operational miners, positioning it for growth.

HEALTH

• Relatives cremate earthquake victims in Nepal as rescuers search for survivors. Death toll rises to at least 157.

• Lawsuits filed by over 7,000 Black women in the US allege that hair relaxers, including those from L’Oreal and Revlon, caused uterine cancer.

SPORTS

• Ajax manager Erik ten Hag praised Manchester United captain Bruno Fernandes for his leadership and last-minute winning goal against Fulham, securing a 1-0 victory.

• Manchester City dominated Bournemouth with a 6-1 victory, reclaiming the top spot in the Premier League. Jeremy Doku was instrumental in the win.

• New Zealand must win their match against Sri Lanka to secure a spot in the World Cup semi-finals. India and South Africa have already qualified. Pakistan chooses to bowl against New Zealand.