New Found Gold (NFGC) has agreed to acquire the Kingsway gold project from Labrador Gold (NKOSF) in an all-stock deal. The acquisition will add to New Found’s existing Queensway gold project in Newfoundland and Labrador, providing the company with additional growth potential in the region.
Goldman Sachs is continuing its exit from consumer finance by transferring its robo-investing accounts to Betterment. Last year, Goldman scaled back its consumer finance operations after significant losses. The Marcus Invest accounts and assets under management will be acquired by Betterment, but no additional accounts, technology, employees, or operations will be part of the transaction. Goldman Sachs will focus on growing its Marcus Deposits platform, which has over 3 million customers and $100 billion in consumer deposits.
Social Security has become a source of frustration for retirees due to accidental overpayments. Ellen, a Virginia resident, recently received a $914 overpayment notice despite her benefits being reduced to less than $850. The agency has overpaid billions of dollars, leading to legal disputes and demands for repayment. Some retirees have received over $4,000 in overpayment notices, leaving them financially distressed.
iShares Global Clean Energy ETF (ICLN) currently warrants a hold rating due to several barriers facing the global clean energy industry. While the long-term outlook for clean energy is promising, near-term challenges in U.S., European, and Asian markets are impeding growth. High costs for clean energy, stunted demand, and the prevalence of fossil fuels are significant roadblocks. Investors should be aware of the volatility associated with ICLN and similar ETFs, as they tend to experience more fluctuations than the broader market.
TargetVideo’s new AI technology streamlines content categorization for digital video publishers, enabling automatic classification of video content into standardized IAB categories. This automation eliminates manual categorization, freeing up time and resources for publishers and ensuring alignment with industry standards for enhanced discoverability and monetization.
Rumors have surfaced regarding ‘Tulsa King’ writer Terence Winter’s return to the series after initially leaving. Reports indicate that Winter had creative differences with Taylor Sheridan, the show’s creator. Similar concerns have been raised by Kevin Costner regarding Sheridan’s direction for ‘Yellowstone.’ Critics argue that these actors and writers should prioritize their work over personal disputes, highlighting the importance of collaboration for the success of the entertainment industry and the satisfaction of fans.
Gold prices dropped on Monday due to reduced concerns about a potential broader conflict in the Middle East, with investors turning to riskier assets like stocks. Spot gold fell 2.3% to $2,336.29 per ounce, its biggest intra-day decline in over a year, while U.S. gold futures declined 2.7% to $2,349.70. The easing of tensions prompted investors to reduce their safe-haven positions in gold.
Meta CEO Mark Zuckerberg suggests using synthetic data to train AIs, avoiding potential legal issues like those faced by OpenAI and Google. He proposes using AI outputs to enhance training and eliminate the need for publicly available data. However, ethical concerns remain about input quality and the potential for biased or inaccurate results.
Tesla has further reduced prices for three of its five models in the US, offering discounts of $2,000 on the Model Y, Model X, and Model S. The move comes as the company faces challenges following reports of falling sales, increased competition, and a decline in stock value. Despite earlier price cuts, Tesla’s worldwide sales dropped from January to March. The company has also delayed plans for a $25,000 Model 2 electric vehicle and announced layoffs of 10% of its global staff. These developments underscore the ongoing challenges for Tesla amidst a rapidly evolving automotive landscape.
As the busiest week of first quarter earnings results gets underway, several stocks are expected to experience notable post-earnings movements. Investors should pay attention to companies with high implied moves based on options market expectations. Snap, JetBlue, American Airlines, and Spotify are among the names to watch.
