Chinese technology conglomerate Tencent Holdings Ltd. reported a 29% rise in profits during the second quarter, resulting in a net profit for the three months through June totaling 42.6 billion yuan. This profit far exceeds the average Refinitiv estimate of 34.4 billion yuan.
Total revenue for the period surged by...
Chinese electric vehicle manufacturer Li Auto (LI) reported an unexpected profit for Q4 of 2020 on Thursday, sending the auto manufacturing company's stock up by 1% to 28.98 in premarket trading. This movement is in stark contrast to the stock slump that Li was expected to incur.
While analysts expected...
DNA Sequencing firm Oxford Nanopore Technologies Ltd. launched its initial public offering (IPO) on the London Stock Exchange, with shares being sold at 425 pence each. The company managed to sell 350 million pounds worth of new stock, while its backers were able to generate 174 million pounds from...
Your new Apple Watch and Macbook could soon come with a “Made in Vietnam” label. According to influential Asian media outlet Nikkei, Apple’s suppliers Luxshare Precision Industry and Foxconn have already set up test production lines for the two products in the country.
The move aligns with Apple’s efforts to...
In response to the current global semiconductor shortage, Volkswagen has called on European governments to allocate more capital towards boosting the chip manufacturing sector.
According to Markus Duesmann, the Volkswagen board member in charge of research & development and head of luxury unit Audi, the German vehicle manufacturer will not...
Technology conglomerate Alphabet, the parent company of Google and multiple former Google subsidiaries, released its quarterly earnings statement on Tuesday and revealed some big news in the process. Aside from reporting a 36 percent increase in profit in the last three months of 2021, the company also unveiled plans...
Amazon founder Jeff Bezos has reclaimed the title of the world's richest person this week, unseating Tesla and SpaceX pioneer Elon Musk. This comes after Tesla Inc. stocks slipped by 2.4% during Tuesday's trading.
Having help at the top spot for six weeks, Elon Musk lost approximately $4.5 billion as...
Volvo Car Group announced on Monday that they've entered into a joint venture with Swedish battery maker Northvolt for the development of sustainable batteries that will be installed in its electric vehicles. As a result of this deal, Northvolt will become Volvo's exclusive battery cell production partner in Europe.
This...
When it comes to the giant corporations of today, the stakes get higher and higher. We're not talking millions, and we're not talking billions—we're talking trillions.
There are two companies that are expected to reach a value of $2 trillion sometime soon, and they're Microsoft and Amazon.
Last week, Microsoft's shares...
Netflix stock (NFLX) isn't the hottest commodity these days and it might be even less desirable after it received a downgrade from Goldman Sachs. In a recent note to clients, Goldman's analyst Eric Sheridan said that his team has various concerns related to NFLX while changing the stock's rating...