manufacturing
By Beiyi SEOW Greensboro (États-Unis) (AFP) - Plus jeune, Devante Cuthbertson pensait devoir un jour quitter sa ville de Greensboro, dans le sud-est des Etats-Unis, pour trouver du travail, jusqu'à ce que le constructeur japonais Toyota décide d'investir près de 14 milliards de dollars pour y bâtir une méga-usine de batteries automobiles. A 28 ans, il effectue un apprentissage dans un établissement public d'enseignement technique, incluant trois jours hebdomadaire de travail chez le constructeur installé en Caroline du Nord, dans l'optique d'y décrocher un emploi. Une déferlante d'investisseme...
AFP (Français)
3M (NYSE: MMM) stock price has gone through a rough patch since 2018, undoing some of the gains it made in the past decades. It has plunged by over 43% from a high of $170 in 2018 to today’s $96 as the company faces substantial challenges. In the long-term, however, 3M has been a stellar company as its stock surged by over 345% from its lowest point in 2010. Challenges and turnaround3M is one of the biggest industrial companies in the US with a market cap of over $52 billion and annual revenues of over $32 billion. It manufactures products that lead their respective industries like safety and ...
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Greensboro (United States) (AFP) - Growing up, Devante Cuthbertson assumed he might have to leave his North Carolina hometown to pursue a career, but a new multi-billion-dollar Toyota battery plant is offering him a reason to stay put. The 28-year-old from Greensboro is among students of an apprenticeship program at Guilford Technical Community College, working three days weekly with the automaker with an eye on future employment. "At one point, I felt maybe I'd go to a different state or a different country and try different job avenues," Cuthbertson told AFP. But when the Toyota tie-in "cam...
AFP
Famed investor Jim Cramer is all praise for Jayshree Ullal – the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. Cramer has been bullish on Arista NetworksArista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host: $ANET is now up there with Club name Broadcom as an adjacency to the Titans as CEO Jayshree Ullal calls them. Is she the best in adjacents to hyperscalers? I am beginning to believe so. Investing in the computer networkin...
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Luminar (NASDAQ: LAZR) stock price has imploded. After soaring to a record high of $47.78 in 2021, it has become a penny stock trading at $1.65. Along the way, its market cap has dropped from a record high of over $13.5 billion to $745 million. Cash burning machineLuminar Technologies has been one of the top cash incinerators in the technology industry. That is understandable since the firm has been busy building its Light Detection and Ranging (LIDAR) technology for the automotive industry. Luminar’s annual losses have been in a strong upward trend over the years. Its net loss rose from $94.7...
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Rivian Automotive Inc (NASDAQ: RIVN) is slipping in extended hours on Tuesday even though it reported better-than-expected revenue for its first financial quarter. Why is Rivian stock down in after-hours?The stock is in the red partly because the EV firm did not raise its production guidance for 2024. $RIVN continues to see production to be capped at about 57,000 vehicles this year. It produced roughly the same number of vehicles last year. Still, RJ Scaringe – the chief executive of Rivian Automotive said in a press release today: Q1 set a strong foundation for remainder of the year as we foc...
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Jim Cramer says Tim Cook – the chief executive of Apple Inc (NASDAQ: AAPL) and his team is “very bankable” after the tech behemoth rolled out new iPads with its latest M4 chip on Tuesday. Cramer reiterates bullish view on $AAPLIt’s the first time the multinational has launched new versions of iPad since October 2022. According to CEO Tim Cook: This is the biggest day for iPad since its introduction. Cramer reiterated his bullish stance on $AAPL also because the Nasdaq-listed firm is developing its own AI chip for data centres, as per a WSJ report on Tuesday. He remains optimistic even though A...
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Peloton Interactive Inc (NASDAQ: PTON) is up 20% on Tuesday following a report that private equity firms have shown interest in acquiring the connected fitness company. $PTON has formally engaged with one private equity firmAnonymous sources told CNBC this morning that the exercise equipment manufacturer has held formal discussions with at least one firm. A bunch of others are interested in taking over $PTON as well but it’s unclear if they have formally engaged with the Nasdaq-listed firm yet, they added. A representative of Peloton Interactive refrained from commenting on the report today ci...
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Nvidia Corp (NASDAQ: NVDA) is in the red at writing after Stanley Druckenmiller announced to have trimmed his stake in the chipmaker. Why did Druckenmiller cut his position in Nvidia stock?The billionaire investor lowered his exposure to the semiconductor behemoth as the stock has “had a hell of a run”. He was first introduced to $NVDA in the back half of 2022 – and “increased the position substantially” when OpenAI rolled out ChatGPT. The news arrives only days before Nvidia is scheduled to report its financial results for the first quarter. Consensus is for it to earn $5.14 a share – up many...
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Shares of Nikola Corp (NASDAQ: NKLA) are roughly flat in premarket on Tuesday after the EV firm came in shy of revenue estimates for its fiscal first quarter. How many vehicles did Nikola deliver in Q1?The electric vehicles company delivered 40 of its hydrogen fuel cell electric trucks in Q1 – up a more than expected 14% sequentially. Production stood at 43 units in the recently concluded quarter. Steve Girsky – its chief executive said in a press release today. We continue to move forward rapidly and execute our plans. And please keep that in mind – we are in the execution phase, not the plan...
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