VENTURE CAPITAL POST

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.

Microsoft said that it would increase its spending on developing its artificial intelligence infrastructure despite a slowed growth in its cloud business.

The Australian Stock Exchange (ASX) began its trading week strong after stocks based in the United States finished last week on the red, with investors continuing to bet that the Reserve Bank of Australia (RBA) would start cutting interest rates by September.

Billionaire investor Bill Ackman’s firm Pershing Square announced that it was postponing its initial public offering, saying that there was an ‘enormous sensitivity’ to the size of the transaction.

French private equity firm L Catterton reportedly approached toymaker Mattel with an offer to acquire it, according to several sources quoted by Reuters.

GoBankingRates provided several immediate impacts that would affect Wall Street and other financial institutions following US President Joe Biden’s decision to stand down from the race to the White House.

Share markets across Asia are expected to stay in the red after last week’s tech bloodbath, as well as the shock announcement of US President Joe Biden bowing out of the presidential race in November.

Netflix is expected to report its second-quarter earnings on July 18, with everyone on Wall Street paying close attention to any of the details or information the streaming service would provide about its advertising-supported business model.

Nvidia CEO Jensen Huang decided last week to sell over $31 million worth of the company’s stock in a move to entice investors.

Bank of America recently announced that its second-quarter revenue and profit from investment banking and asset management fees exceeded Wall Street expectations.

Morgan Stanley reported that profits performed better than expected across the board in the second quarter of 2024 despite investors shifting to higher-yielding assets.

Shares of the TSMC rose to a record intraday high in Taipei’s stock market after Morgan Stanley and other brokers boosted price targets on the company before its earnings.