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Industry
Yum Brands Misses Revenue Target as Pizza Hut, KFC See Lower Sales
Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
Saudi Aramco's Profit Dips to $29.1 Billion in Q2 as Oil Production Remains Low
World's largest oil company, Saudi Aramco, reported a 3% decline in second-quarter profits to $29.1 billion due to lower crude production but still plans to pay $124.2 billion in dividends this year.
Nvidia’s AI Chip Faces Production Delay Due to a Design Flaw: Report
The Blackwell B200 AI chips will now take at least three more months to produce. Nvidia Corp. 's upcoming artificial intelligence chips are now facing production delays due to a design flaw, according to a report.
Nvidia Rival Groq Raises $640 Million in a New Funding Round
Groq was originally looking to raise $300 million at a slightly lower valuation. Groq, an artificial intelligence chipmaking startup, has secured more than $600 million in a recent funding round, the company announced Monday.
Latest News
Tesla's lawyers said a recent vote makes it clear that shareholders believe Elon Musk is entitled to the 11-figure compensation.
The oil giant's announcement will mark the first time Chevron will be headquartered outside of California since its founding 100 years ago.
The implant could give a paralyzed patient the ability to control digital devices by thinking. Neuralink, a microchip company owned by Elon Musk, has successfully implanted a brain chip into a second trial patient just months after its first attempt.
Coca-Cola expects some or all of the $6 billion in back taxes to be refunded if it wins an appeal on the court's decision.
The shareholders also noted that CrowdStrike's share price fell more than 30% in the days following the global tech outage.
The majority of the layoffs will be completed by the end of 2024, Intel said. Chip maker Intel on Thursday announced it plans to lay off more than 15,000 workers after it lost more than $1 billion in revenue in the second quarter.
The Dow had already plunged more than 700 points earlier in the session. Stocks tumbled Thursday, with the Dow Jones Industrial Average closing nearly 500 points lower after fresh data stoked concerns of a potential recession.
Apple's revenue was boosted by sales of Macs and iPads, which offset the weak demand for iPhones.
Shares of the big tech company Meta jumped by about 7% in extended trading on July 31 after exceeding Wall Street expectations on revenue and profit for the second quarter of 2024.
