C3.ai Inc might not feel the love from investors when it reports its second quarter fiscal 2024 financial results after the close on December 6, despite Wall Street’s ongoing infatuation with all things artificial intelligence (AI).
On September 7, shares of C3.ai sank nearly 17% after the Enterprise AI application software company said it no longer expects to achieve adjusted quarterly profitability by the end of the fiscal year, instead opting to invest in its Generative AI (GenAI) solutions.
AutoZone, Inc. (NYSE:AZO) is set to report higher revenues and increased profits for the three-month period ending Saturday, November 18, when it reports its first quarter fiscal 2023 results before the stock market opens on Tuesday, December 5.
The specialty retailer focused on automotive replacement parts and accessories is expected to report a 4.5% year-over-year increase in revenue from $3.99 billion to $4.17 billion.
ChargePoint Holdings Inc shares will likely see little ‘juice’ when the electric vehicle (EV) charging network developer and operator reports its third quarter fiscal 2024 financial results after the close on December 6.
That’s because ChargePoint already warned investors on November 17 that it expects to report 3Q revenue in the range of $108 million to $113 million, down from previous estimates of $150 million to $165 million, and short of the $157 million Wall Street consensus forecast at the time.
Soma Gold Corp. (TSX-V:SOMA) told investors it is on track to meet its full-year targets after reporting record third-quarter production, sending its shares higher.
The Colombia-focused mining company sold 9,112 ounces of gold in the three months to September 30, 2023, a 66% increase from the same quarter a year earlier. For the first nine months of the year, production rose 42% to 24,503 ounces.
Intuit Inc. (NASDAQ:INTU) is set to report growth on the top and bottom lines for the quarter ended in October when it hands down its latest financial report on Tuesday, November 28.
For the first quarter of fiscal 2024, the provider of financial and business management services and software expects to report year-over-year revenue growth of 10% to 11% and adjusted earnings per share (EPS) in the range of $1.94 to $2.
Stellantis NV (NYSE:STLA, EPA:STLA) plans to revise its 2030 revenue target for its recycling and reconditioning unit, following a 25% revenue growth this year.
The carmaker’s CEO Carlos Tavares highlighted the impact of volatile raw material prices on the affordability of electric vehicles (EVs) and emphasized the need for a stable supply chain to avoid market fluctuations and reduce inflation.
Side dishes aren’t the only reason to get excited during Thanksgiving dinner, especially if you’re an investor in US-listed stocks.
The S&P 500 has ended the November holiday-shortened week with a gain three-quarters of the time going back to 1961, with an average and median advance of 0.3%, according to Yahoo Finance data and calculations.
Kootenay Silver Inc. (TSX-V:KTN) continues to unveil impressive findings at its Columba Silver project in Mexico, particularly in the D Vein target area.
In an interview with Proactive, CEO Jim McDonald discussed the latest results from the ongoing drilling program focused on expanding the project's widest and highest-grade intervals to date.
Apple Inc (NASDAQ:AAPL) saw a little less love from consumers in China on that country’s recent Singles Day shopping festival.
The iPhone maker’s smartphone sales fell 4% year over year during the two-week period from October 30 to November 12, Reuters reported, citing data from Counterpoint Research.
Black Friday is a big day for retailers and consumers hoping for a once-a-year bargain in the biggest shopping event of the year as the festive season approaches.
Investors are joining in on the action, with retail stocks typically bouncing in the weeks approaching the holiday.
Americans celebrating Thanksgiving this year are more likely to purchase a bigger turkey as gatherings are larger than in previous years since the pandemic amid a decline in prices for the bird, according to the CEO of food manufacturer Butterball Jay Jandrain.
"We're expecting an average of about nine people around a table this year, and those numbers are certainly up," Jandrain said.
The adoption of generative artificial intelligence (AI), such as OpenAI's GPT series and Codex, Google's BERT and LaMDA and GitHub Copilot, is still "relatively modest but growing rapidly", according to research by UBS of 15 IT service giants.
Despite the industry grappling with macroeconomic challenges, these groups, collectively responsible for 20% of global industry spend, are each working on hundreds of generative AI projects already, albeit typically at the pilot stage, the Swiss bank's analysts wrote in a note to clients.
Anglo American PLC (LSE:AAL) has had a second upgrade in as many days, with Deutsche Bank joining the positive mood as it lifted its rating to 'buy' from 'hold'.
Analyst Liam Fitzpatrick said 2023 has been a tough year for the global metals and mining sector, and the first half of 2024 could remain challenging, as sub-trend global demand continues to weigh on prices.
Greater ISA flexibility proposed by the government could hit profits for the likes of Hargreaves Lansdown PLC (LSE:HL.) and AJ Bell PLC (LSE:AJB), according to AJ Bell.
Some of changes announced in the autumn statement coming into effect from April 2024 look interesting, the Swiss bank said.
Online payment platform Klarna has obtained authorisation from the Financial Conduct Authority (FCA) to offer regulated credit and payment services in the UK.
This approval, crucial for Klarna's operations, comes as its temporary Brexit-related permission was nearing expiration, though the authorisation does not extend to Klarna's widely-used buy-now-pay-later (BNPL) loans.
A labour shortage is holding back economic growth and contributing to inflation, according to an economic think tank.
Paul Dales, Chief UK Economist at Capital Economics, an independent economic research business based in London, said these effects could keep wages high and stall interest rates for longer.
Baselode Energy Corp (TSX-V:FIND, OTCQB:BSENF) recently reported that drilling at the ACKIO uranium prospect at its Hook project in Saskatchewan has confirmed Pod 7 as a second zone of near-surface uranium mineralization at the prospect.
The company’s CEO James Sykes joined Proactive’s Steve Darling to talk through the drill results.
Wednesday’s autumn statement included a range of tweaks, reforms and funding pledges that the government hopes will ultimately boost investment and drive UK growth in the future.
These were far from limited to big business with sweeping changes to pensions and individual savings accounts also in the works.
With the growth in popularity of Shield Therapeutics PLC's (AIM:STX, OTCQX:SHIEF) Accrufer prescription iron medicine, Stifel has initiated coverage with a 'buy' rating on the company.
Accrufer, which is prescribed treats iron deficiency and anaemia, has seen a "dramatic" acceleration in prescription and sales growth since being launched in mid-2021 and following last December's co-promotion agreement with Viatris that increased the promotional field force in the US from 22 reps to 100 now.
Halfords Group PLC (LSE:HFD) will be hoping to post its last interims outside of the FTSE 350 on Wednesday after data showed it's on track to return to the mid-cap index.
Shares in the bike and motoring retailer have risen 9.5% year-to-date, and, barring a substantial drop between now and next Tuesday, it should be returning to the FTSE 250.
It will be a little cheaper for Americans to put out a Thanksgiving spread this year than last, according to a survey by the American Farm Bureau Federation.
A “classic Thanksgiving feast” for 10 people will cost $61.17 or $6.12 per guest, down 4.5% from 2022 largely driven by a decline in the price of turkeys, the survey showed.
Business leaders are more pessimistic in the second half of the year than they were at the time of the Brexit referendum about the future of the economy over the next 12 months, according to a new survey.
Small and mid-cap companies are less than optimistic about business prospects over the coming year, with mean employment and turnover expectations for the year ahead both falling.
Binance has witnessed a large outflow of bitcoin from its reserves following the dramatic and widely unexpected departure of founder and figurehead Changpeng ‘CZ’ Zhao this week.
According to CryptoQuant analysis, Coinbase's reserves increased by around 12,000 bitcoin while Binance's decreased by 5,000 bitcoin the day following CZ’s departure.
Murchison Minerals Ltd (TSX-V:MUR, OTCQB:MURMF) has kicked off an extensive geophysical survey program at its Barbant-MacKenzie (BMK) copper-zinc-silver-lead-gold project in Saskatchewan.
The company’s VP of Exploration John Shmyr recently joined Proactive’s Steve Darling to talk through the program highlights.
Great Southern Copper PLC (LSE:GSCU) raised £905,000 to fund its operations in Chile, including the drilling of high-grade copper and gold targets.
Shares at 2.25p were issued through a placing and subscription scheme and represent 11.7% of the total issued share capital, the company said in a statement.
Chancellor Jeremy Hunt’s autumn statement included a host of measures designed to widen access to investment, including through individual savings accounts and pension reforms.
Though Hunt glossed over the proposals in his speech, the government’s changes were buried within the 111-page full autumn statement document - published after the speech in Parliament.
SpaceX is planning to sell shares in December that would value Elon Musk’s company at about $150 billion, the New York Post reported on Wednesday.
The valuation would be the same as the company’s July tender offer, which raised $750 million in cash, the media outlet noted.
McEwen Mining Inc (TSX:MUX, NYSE:MUX) shares fell more than 5% after the company announced a US$16.1 million financing.
The gold and silver producer said proceeds from the private placement financing will be used to fund continued exploration and development at its Fox Complex in the Timmins region of Ontario.
Amazon.com Inc (NASDAQ:AMZN) is poised to receive unconditional EU antitrust approval for its $1.7 billion acquisition of iRobot Corporation (NASDAQ:IRBT), a robot vacuum maker, despite initial warnings from the European Commission about potential competition reduction.
The deal, first announced in August 2022, adds iRobot's Roomba to Amazon's array of smart devices.
Northstar Gold Corp. (CSE:NSG) has announced encouraging results from the remaining three Phase 1 diamond drill holes completed at the historic Cam Copper Mine on its 100%-owned Miller copper-gold property in Ontario, Canada.
The company said all four holes drilled between October 20th and October 30th spanning 720 metres (m) intersected lenses of copper-rich volcanic massive sulphides (VMS), including massive and stringer chalcopyrite in drillhole CC03-23 which graded 14.8% copper over 2.45m from 116.55m to 119m in Zone 2.
Kingfisher PLC (LSE:KGF) shares were getting mixed reviews a day after its underwhelming quarterly update, with big banks cutting their targets on the B&Q owner but there are suggestions that the shares are now being harshly treated.
The Anglo-French DIY products chain cut its profit and cashflow guidance for the year due to weaker than expected trading in France, offsetting resilience in the UK and improvements in Poland.
The Sage Group PLC (LSE:SGE)’s trading update to the market yesterday was “a good update... but not that good”, according to analysts at Barclays.
Some analysts expressed surprise at the approximately 13% uplift in the software company’s share price on the back of its fiscal 2023 results and outlook for the year ahead.
Filament Health Corp (NEO:FH, OTCQB:FLHLF) said it has signed a non-binding term sheet to receive up to US$14.4 million in funding through a convertible note with an affiliate of advisor and investor Helena Partners Inc.
The clinical-stage natural psychedelic drug development company said the financing is expected to be completed in December 2023, concurrent with the closing of the previously announced business combination among Filament, special purpose acquisition company Jupiter Acquisition Corporation, and 1427702 BC Ltd.
Vertiqal Studios (TSX:VRTS, OTCQB:GAMGF) announced that it has appointed Kris Roeske as its new Head of Content.
The company said Roeske has been promoted to the position to lead creative ideation, content operations and community engagement initiatives.
Evergold Corp (TSX-V:EVER, OTC:EVGUF) has successfully completed its inaugural drilling program at the road-accessible DEM prospect in central British Columbia, and CEO Kevin Keough is cautiously optimistic about the results. In an interview with Proactive's Steve Darling, Keough highlighted the success of the program, acknowledging the inherent risks while expressing confidence in the chosen prospect.
Proactive: We're talking about your drill program at the DEM prospect in British Columbia. It's been completed. Let's get some details. It was pretty successful, I understand.
Oil companies such as Shell PLC (LSE:SHEL, NYSE:SHEL) or BP PLC (LSE:BP.) may have to spend US$35 billion every year until 2050 if they want to remain ‘major’ energy companies.
If any of the seven majors wanted to maintain current outputs of oil and gas while being net zero compliant in 2050, they would have to increase the capacity of both their carbon capture and removal systems.
The UK High Court has ruled that Nigerian fishermen can pursue landmark human rights claims against Shell PLC (LSE:SHEL, NYSE:SHEL) relating to the alleged breach of the right to a clean environment under Nigerian constitutional law.
Following the court’s decision, 13,000 fishermen from the Ogale and Bille communities in the Niger Delta are one step closer to proceeding with the lawsuit, which is being handled by Leigh Day.
Glencore PLC (LSE:GLEN) has cancelled plans to build an electric vehicle battery recycling plant in Sardinia, Italy, after the consent process stalled.
The mining group had planned to produce lithium and other materials from used car batteries as part of a partnership with Canadian battery recycler Li-Cycle.
RocketFuel Blockchain Inc (OTCQB:RKFL) is making waves in the financial technology space, offering an end-to-end payment solution that it says sets it apart from competitors.
In an interview with Proactive's Steve Darling, Daniel Gonzalves, the company's vice president of Sales, shed light on the company's innovative approach and the key factors that distinguish it from others in the field.
Prices at pubs, restaurants, hotels and bars could increase by as much as 6% in the next year, analysts predicted.
The national living wage (NLW) will jump to £11.42 in April 2024 and will be applicable to 21 and 22-year-olds for the first time, chancellor Jeremy Hunt announced in yesterday's Autumn Statement.
Nissan is poised to confirm its new electric Qashqai and Juke models will be built in Sunderland, suggesting a vote of confidence in the UK.
Nissan, which already produces vehicles in Sunderland, will on Friday commit to building the new models at the site, according to the Financial Times.
NatWest Group PLC (LSE:NWG) has announced another 19 branch closures scheduled for 2024 as part of an ongoing paring down of physical bank counters.
The majority of closures will happen in England, with one in Wales and one Royal Bank of Scotland branch in Glasgow.
Cruise, the driverless cars arm of General Motors Company (NYSE:GM), will recalibrate its strategy by halting production of its Origin robotaxi and focusing on its current Chevrolet Bolt autonomous vehicle platform.
This change comes in the wake of recent challenges and safety concerns, which led to last week's pause on all on-road vehicle operations in the US.
Nightcap PLC (AIM:NGHT)'s shares are up after the bar owner increased sales by nearly a third for the year through to 2 July.
The bar chain operator increased the number of sites in its portfolio to 46 during the period, up from 31 a year ago, after buying Dirty Martini out of administration, it said in its annual financial statement today.
Stellantis NV (NYSE:STLA, EPA:STLA) has announced it has repurchased over a billion dollars worth of shares from Chinese auto manufacturer Dongfeng Motor Group.
Half of Dongfeng’s stake in Stellantis was bought back through the deal, the latter said in a press release on Wednesday, equating to 50 million common shares.
British aerospace and defence big cap BAE Systems PLC (LSE:BA.) faces a “decade of growth and visibility”, said analysts at JPMorgan following the FTSE 100 firm’s appearance at the UK Leaders Conference this week.
One week earlier, BAE confirmed its guidance after reporting a strong order book in the second half of the year.
BT Group PLC (LSE:BT.A) shares were being pulled two ways on Thursday, pushing back up against a four-month high before swinging into the red.
Shares rose sharply on Wednesday after the government confirmed that full expensing will be made permanent, rather than limited to the next three years as had been said in the spring Budget.
The UK private sector returned to growth in November after three months of contraction, supported by a pick-up in the services sector, a report showed today.
A softer downturn in manufacturing production also helped.
Before Sam Altman was ousted from OpenAI, the developer of artificially intelligent chatbot ChatGPT, the company's board was warned of a potential threat to humanity, according to reports.
Shortly before Altman was sacked, researchers at the company wrote a letter to OpenAI’s board of directors to warn them of a finding that had the potential to risk the future of humanity, Reuters reported, citing sources familiar with the matter.
Ofgem has announced that the energy price cap will rise in the new year, meaning consumers will be charged more per unit of gas and electricity.
From 1 January to 31 March, Ofgem will up the cap from £1,834 to £1,928, reflecting what the average household would pay over a year on the higher rates.