Mobileye Global Inc (MBLY) stock experienced a significant jump on Thursday, driven by Intel’s reaffirmation of its majority stake in the company and the U.S. Federal Reserve’s interest rate cut. The news comes amidst Intel’s recent success in securing lucrative chipmaking deals, including a multi-billion-dollar contract with Amazon and funding from the CHIPS and Science Act.
The Federal Reserve’s surprise 50-basis-point interest rate cut sent Wall Street into a frenzy on Thursday, propelling the S&P 500 and Dow Jones Industrial Average to fresh record highs. The strong labor market data and anticipation of further rate cuts fueled the market’s surge, with tech giants leading the charge.
A Raleigh, North Carolina man is embroiled in a legal battle to reclaim his multimillion-dollar mansion after it was fraudulently transferred to a stranger. The case highlights a loophole in North Carolina law that allows for the transfer of property without proper verification, leaving homeowners vulnerable to fraud.
An Apple analyst believes that the company could boost its growth by focusing on advertising revenue, particularly with its AppleTV+ streaming service, as concerns rise about iPhone 16 demand. The analyst sees potential for Apple to generate millions in ad revenue and significantly improve its business fundamentals.
Edgewise Therapeutics announced positive topline data from its Phase 1 and 2 trials of EDG-7500 for obstructive hypertrophic cardiomyopathy (HCM). The drug demonstrated significant reductions in left ventricular outflow tract pressure gradient (LVOT-G) and NT-proBNP levels, a key biomarker for heart failure, with a favorable safety profile.
aequum LLC, a leading tech-driven cost containment company, will be exhibiting at the SIIA National Conference in Phoenix, Arizona from September 22-24, 2024. Attendees can visit Booth 102 to learn about aequum’s solutions for resolving medical claims disputes and reducing healthcare costs for self-insured plans.
Plug Power, a hydrogen solutions provider, has launched an equipment lease financing platform designed to unlock capital from its assets and drive sales growth. The platform has already secured $44 million in deals with GTL Leasing, demonstrating its potential to fuel Plug Power’s expansion in the green hydrogen sector.
Rocket Lab experienced a safe on-pad abort during a planned launch for Kineis, a French space agency-backed startup. The company is assessing options for a future launch attempt, citing ground support equipment failure as the cause. Despite the setback, Rocket Lab shares are seeing a rise today.
The housing market is experiencing a lull as potential homebuyers wait for the upcoming presidential election to make a move. Despite lower mortgage rates, pending home sales have declined, suggesting buyers are hesitant due to political uncertainty and concerns about future housing policies. While some wait for rates to fall further, others hope for clarity on housing policies. However, underlying demand remains strong, indicated by rising homebuyer activity and mortgage applications.
Even billionaires like Elon Musk, Mark Zuckerberg, and Jay-Z choose to take out mortgages on their homes, despite having the financial means to buy outright. This strategy is about more than just saving money – it’s about smart financial management, maximizing returns, and maintaining financial flexibility.
