October 30, 2024

Stocks dipped on Wednesday as investors processed a flood of earnings reports and looked ahead to more results from major tech companies. The S&P 500 fell 0.33 per cent, closing at 5,813.67. The Dow Jones Industrial Average dropped 91.51 points, or 0.22 per cent, finishing at 42,141.54. Meanwhile, the tech-focused Nasdaq Composite declined 0.56 per […]

Meta Platforms (Nasdaq: META) reported its Q3 2024 earnings after market close, showcasing a strong financial performance. Results surpassed market expectations. Largely driven by advancements in artificial intelligence (AI) and robust ad revenue growth, Meta’s revenue reached US$40.6bn, marking a 19% year-over-year increase and slightly exceeding the projected US$40.3bn. Earnings per share (EPS) came in

Microsoft (NASDAQ: MSFT) released its Q1 FY25 financial results after market close today, reporting revenues of US$56.5bn and an earnings per share (EPS) of US$2.99. These figures surpassed consensus projections, which estimated revenue at US$54.5bn and EPS at US$2.65.  A key driver was Microsoft’s Intelligent Cloud division, which includes Azure and saw a revenue increase

KKR and Energy Capital Partners (ECP) have committed to a US$50bn investment to meet the fast-growing needs of artificial intelligence (AI) and cloud computing. This strategic partnership, announced Wednesday, targets improvements in power generation, transmission, and data centre capabilities. KKR (Kohlberg Kravis Roberts & Co) is a global investment firm known for its expertise in

Europe’s largest carmaker, Volkswagen, has announced a 64% plunge in profits for the third quarter. Net profit fell to €1.57bn, down from €4.34bn a year earlier. The downturn has driven Volkswagen to implement sweeping measures. The company has asked its workers to take a 10% pay cut. It plans to close its Audi Q8 e-tron

Companies discussed include: Reece (ASX:REH)BlueScope Steel (ASX:BSL)Credit Corp Group (ASX:CCP)

Australia’s inflation has returned to the Reserve Bank of Australia’s (RBA) target range of 2-3% for the first time since March 2021, driven by a substantial drop in energy and fuel prices. The Australian Bureau of Statistics (ABS) announced that the Consumer Price Index (CPI) rose by only 0.2% in the September 2024 quarter, bringing

Empire Energy (ASX:EEG) has released its Q3 2024 quarterly report, announcing progress in its Carpentaria Gas Project. The company focuses on exploring and developing unconventional gas resources across approximately 29 million acres in the Beetaloo Sub-basin of the Northern Territory. Unlike conventional gas, which flows through porous rock and is generally extracted from large reservoirs, unconventional gas

Syrah Resources (ASX:SYR), a key supplier of natural graphite, has announced progress on its flagship Balama operation in Mozambique and the Vidalia Active Anode Material (AAM) facility in the US. The company’s recent US$150 million loan from the US International Development Finance Corporation (DFC) will help sustain operations at Balama, which is integral to meeting

Gold Road Resources (ASX:GOR) has reported strong quarterly results with a 10% increase in gold production at the Gruyere Gold Mine, totalling 68,781 ounces for the September quarter. This uplift comes as the joint venture with Gold Fields ramps up operations in the Stage 3 and 4 pits, resulting in heightened mining activity and a