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☆ Google introduces generative AI to Search in India, Japan
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Google logo and AI Artificial Intelligence words are seen in this illustration taken, May 4, 2023. REUTERS/Dado Ruvic/Illustration/file photo Acquire Licensing RightsAug 30 (Reuters) - Alphabet's (GOOGL.O) Google said on Wednesday it introduced generative artificial intelligence to its Search tool for users in India and Japan that will show text or visual results to prompts, including summaries. Japanese users will be able to use the feature in their local languages, while it will be available in English and Hindi in India. Google's search feature is meant to be used for seeking information, such as locating something to purchase. Google's AI search competes with Microsoft's (MSFT.O) Bing.

Persons: Dado Ruvic, Bing, Chavi Mehta, Jeffrey Dastin, Krishna Chandra Organizations: REUTERS, Google, Thomson Locations: India, Japan, United States, Bengaluru, San Francisco

☆ CNN taps media veteran Thompson as CEO to spearhead turnaround
▼ + stars: | 2023-08-30 | by ( Aditya Soni | ) www.reuters.com time to read: +3 min

With Thompson, Warner Bros Discovery is turning to an executive with ample experience at the top level, unlike Licht - a former TV producer who had worked on "The Late Show With Stephen Colbert" and MSNBC's "Morning Joe". During his 8-year tenure as the CEO of the Times, Thompson helped transform the Gray Lady into a beacon for newspapers in the internet age by focusing on digital subscriptions. "Mark is a true innovator who has transformed for the digital age two of the world's most respected news organizations," Warner Bros Discovery CEO David Zaslav said. CNN Max is looking to capitalize on the immediacy of breaking news and analysis, differentiating it from CNN+, which featured lifestyle programs. Those estimates are for the CNN networks that operate in the United States, including CNN en Español and CNN International.

Persons: Mark Thompson, Neil Hall, Thompson, Chris Licht, Donald Trump, Stephen Colbert, David Zaslav, Joe Biden, Ron Desantis, CNN Max, Paolo Pescatore, Licht, Jeff Zucker, Aditya Soni, Chavi Mehta, Shinjini Organizations: BBC, REUTERS, Warner Bros Discovery, CNN, New York Times, Republican U.S, Times, Trump, Democratic, Warner Bros, Atlantic, P Global Market Intelligence, Español, CNN International, Fox News, MSNBC, Nielsen, Thomson Locations: London, Florida, Trump, United States, Bengaluru

☆ Apple to host fall event on Sept 12, analysts expect new iPhones
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

The Apple Inc logo is seen at the entrance to the Apple store in Brussels, Belgium November 28, 2022. REUTERS/Yves Herman Acquire Licensing RightsAug 29 (Reuters) - Apple (AAPL.O) said on Tuesday it would host its fall event on Sept. 12, setting the stage for what analysts believe will be the unveiling of a new line of iPhones and smartwatches. The event will be hosted at the Steve Jobs Theater at its headquarters in Cupertino, California, according to invites from the world's most valuable company. Apple posted a 2.4% decline in iPhone sales for its fiscal third quarter - a rare drop for the product that has for years powered the company's growth. Reporting by Chavi Mehta in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Yves Herman Acquire, Steve Jobs, TF International Securities analyst Ming, Chi Kuo, Chavi Mehta, Sriraj Organizations: Apple, REUTERS, Steve, Wall Street, TF International Securities analyst, Bloomberg, Thomson Locations: Brussels, Belgium, Cupertino , California, Bengaluru

☆ Instacart’s mixed bag has valuation opportunities
▼ + stars: | 2023-08-28 | by ( Anita Ramaswamy | ) www.reuters.com time to read: +4 min

If it doesn’t push valuation too hard, a public listing could be seamless. Instacart booked net income in 2022, a rarity for a growth company hitting the public market. That brings Instacart’s enterprise value to roughly $17 billion, less than half of what it was worth in 2021 but still higher than the internal valuation it inked last year. Follow @AnitaRamaswamy on XCONTEXT NEWSGrocery-delivery business Instacart filed paperwork to go public on Aug. 25 under the formal name Maplebear. The company, which did not share its target price range in the filing, grew revenue by 39% in 2022 to $2.6 billion.

Persons: Eric Cohn, Cheney Orr, Fidji Simo, Instacart, Simo, Apoorva Mehta, Domino's, Lauren Silva Laughlin, Sharon Lam Organizations: Safeway, REUTERS, Reuters, Nasdaq, Kroger, Aldi, Costco Wholesale, Companies, Thomson Locations: Tucson , Arizona, U.S, Cava

Sky-high food inflation after erratic monsoon rains damaged crops and disrupted supply chains. Food inflation for July hit a staggering 11.5%, far more than 4.6% in June and marking a three-year high. Even when customers do purchase fashion items, they buy far fewer than they once would have, some of the managers also said. The downturn in fashion spending has also been accompanied by a slide in spending at restaurant chains like Domino's. In some encouraging signs, tomato prices have eased off peaks and India's central bank chief last week said vegetable prices, which have begun to soften, will decline from September.

Persons: Zink London, Skechers, Kaushik Das, Madan Sabnavis, Anjali Mohanty, Tanvi Mehta, Riddhima, Dhwani Pandya, Jatindra, Saurabh Sharma, Aditya Kalra, Edwina Gibbs Organizations: NEW, Euromonitor, Reuters, Skechers USA, Deutsche Bank, Retail, Bank of Baroda, Dhwani, Thomson Locations: NEW DELHI, MUMBAI, New Delhi, Zink London, Mumbai, Bhubaneswar, Chennai, Lucknow

☆ Peter Navarro's testimony in contempt case is 'weak sauce,' judge says
▼ + stars: | 2023-08-28 | by ( Devan Cole | Test Of Congressional Authority | ) edition.cnn.com time to read: +5 min

Navarro, Trump’s one-time trade adviser, testified Monday in his defense during a key pre-trial hearing in his case. But during the nearly three-hour hearing before US District Judge Amit P. Mehta in Washington, DC, the judge appeared highly skeptical of Navarro’s testimony, noting it’s from one side of the conversation. “I don’t think anyone would disagree that we wish there was more here from President Trump,” Woodward told Mehta. The judge said he would make a decision later this week on whether Navarro’s testimony could be used in his trial next month. “We would like, at the very least, to leave the record open” so Harrington can submit her testimony, Woodward told Mehta.

Persons: Peter Navarro’s, Donald Trump, Navarro, Trump’s, Trump, Amit P, Mehta, “, ” Mehta, Stanley Woodward, ”, Woodward, ” Woodward, didn’t, ” Navarro, Steve Bannon, Bannon, it’ll, Liz Harrington, – Trump, Liz Harrington –, Harrington Organizations: Washington CNN, US, Trump Locations: Washington , DC

☆ Private equity firm Veritas makes takeover offer for BlackBerry, source says
▼ + stars: | 2023-08-25 | by ( Greg Roumeliotis | ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsAug 25 (Reuters) - Private equity firm Veritas Capital has made an offer to buy BlackBerry Ltd (BB.TO), according to a person familiar with the matter, months after the Canadian technology company began a strategic review. Veritas and Blackberry did not immediately respond to Reuters requests for comment. Veritas has made an offer for the entire company, the source said, adding that BlackBerry is also in talks with other potential buyers. Morgan Stanley (MS.N) and Perella Weinberg Partners are acting as financial advisors to BlackBerry for the strategic review. Bloomberg News reported the talks between Veritas and BlackBerry earlier on Friday.

Persons: Mike Blake, Morgan Stanley, Perella Weinberg, Chavi Mehta, Shweta Agarwal, Grant McCool Organizations: REUTERS, Veritas Capital, BlackBerry, Veritas, Malikie Innovations, Perella Weinberg Partners, Bloomberg News, Thomson Locations: Irvine , California, U.S, Canadian, Bengaluru

☆ Private-equity firm Veritas makes a takeover offer for BlackBerry, source says
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake Acquire Licensing RightsAug 25 (Reuters) - Private equity firm Veritas Capital has made an offer to buy Canadian software company BlackBerry (BB.TO), according to a person familiar with the matter. Veritas and Blackberry did not immediately respond to Reuters requests for comment. It pulled the plug on its smartphones business last year and has since been trying to sell its legacy patents related to its mobile devices. In May, BlackBerry said it will continue with the previously announced sale of the patents related to its mobile devices to Malikie Innovations Limited for up to $900 million.

Persons: Mike Blake, BlackBerry, Chavi Mehta, Greg Roumeliotis, Shweta Agarwal Organizations: REUTERS, Veritas Capital, BlackBerry, Veritas, Malikie Innovations, Thomson Locations: Irvine , California, U.S, Bengaluru

☆ Veritas is said to consider a takeover offer for BlackBerry - source
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: 1 min

The Blackberry logo is shown on a office tower in Irvine, California, U.S., October 20, 2020. REUTERS/Mike Blake Acquire Licensing RightsAug 25 (Reuters) - Private equity firm Veritas Capital is considering a takeover offer for Canadian software company BlackBerry (BB.TO), according to a person familiar with the matter. Veritas and Blackberry did not immediately respond to Reuters' requests for a comment. BlackBerry had said in May it would conduct a review of strategic alternatives, which includes the possible separation of one or more of its businesses. Reporting by Chavi Mehta in Bengaluru and Greg Roumeliotis; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: Mike Blake, BlackBerry, Chavi Mehta, Greg Roumeliotis, Shweta Agarwal Organizations: REUTERS, Veritas Capital, Canadian, BlackBerry, Veritas, Thomson Locations: Irvine , California, U.S, Bengaluru

☆ Digital World slides as Trump returns to X, formerly Twitter
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Evelyn Hockstein/File Photo Acquire Licensing RightsAug 25 (Reuters) - Shares of Digital World Acquisition Corp (DWAC.O), which has agreed to merge with Donald Trump's media company, fell 5% in premarket trading on Friday after the former U.S. president returned to social media platform X. He had over 88 million followers on the platform before the ban, while he had 6.39 million followers on Truth Social as of Friday. Blank-check firm Digital World said in October 2021 it had agreed to merge with TMTG, in a deal that would infuse the Truth Social parent with $1.3 billion in cash. The deal, however, faced scrutiny for months and Digital World settled fraud charges with the U.S. securities regulator earlier this year that had delayed its closing. Digital World earlier this month pushed the deadline for the merger by over three months to Dec. 31, in the latest extension.

Persons: Donald Trump, Evelyn Hockstein, Donald Trump's, Trump, Elon Musk, Chavi Mehta, Sriraj Organizations: Fair, REUTERS, Trump Media & Technology, Twitter, U.S, Capitol, Nasdaq, Thomson Locations: Iowa, Des Moines , Iowa, U.S, Fulton County Jail, Georgia, Bengaluru

☆ Mega pickleball merger between Major League Pickleball and PPA is in jeopardy
▼ + stars: | 2023-08-25 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

The Professional Pickleball Association and Major League Pickleball are now at odds after announcing in November that they would join forces and merge team competition leagues. The PPA told CNBC that MLP has not yet signed the partnership deal they verbally agreed to 10 months ago. "I don't know what Steve Kuhn's intentions were the entire time," Connor Pardoe, PPA Tour CEO told CNBC. Kuhn told CNBC that there are "numerous misrepresentations of reality" taking place, without providing specifics. He said if the PPA is willing to pay their players more, he's willing to talk about aligning with the league.

Persons: There's, Major League Pickleball, Tom Dundon, Steve Kuhn, Steve, Connor Pardoe, Pardoe, Kuhn, we'll, Julio DePietro, Zubin Mehta Organizations: Seattle Pioneers, Los Angeles Mad, Premier League, Professional Pickleball Association, Major League, PPA, CNBC, MLP Locations: San, San Clemente , California

☆ Instacart files to go public on Nasdaq to try and unfreeze tech IPO market
▼ + stars: | 2023-08-25 | by ( Hayden Field | ) www.cnbc.com time to read: +6 min

Instacart, the grocery delivery company that slashed its valuation during last year's market slide, filed its paperwork to go public on Friday in what's poised to be the first significant venture-backed tech IPO since December 2021. In May, Instacart said it was leaning into the generative AI boom with Ask Instacart, a search tool that aims to answer customers' grocery shopping questions. Instacart will try and crack open the IPO market, which has been mostly closed since late 2021. In March of last year, Instacart slashed its valuation to $24 billion from $39 billion as public stocks sank. Apoorva Mehta, Instacart's founder and executive chairman, plans to transition off the board after the company's public market debut, according to a 2022 release.

Persons: Instacart, Fidji Simo, haven't, Japan's SoftBank, Uber, They've, Simo, Mark Zuckerberg, Apoorva Mehta, Barry McCarthy, Snowflake, Frank Slootman, Andreessen Horowitz's Jeff Jordan, Shipt, Goldman Sachs, Nick Giovanni Organizations: Nasdaq, PepsiCo, Maplebear Inc, Target, Walmart, Meta, Walmart Grocery, Google, Sequoia Capital, DJ Capital Partners, Norges Bank Investment Management, TCV, D1 Capital Partners, Valiant Capital Management Locations: what's

Nvidia's stock rose as high as $502.66, topping a record hit earlier this week, The first trillion-dollar chip maker pared some gains and was last up 0.8%% at $474.6. The technology-heavy Nasdaq Composite (.IXIC), buoyed by Nvidia, rose in early trade before falling by 1.36%. Reuters GraphicsMore than 20 brokerages raised their target price on Nvidia after the earnings. The median analyst price target on the stock has nearly doubled to $600 since May when the company forecast a 50% jump in second-quarter revenue. Short sellers of Nvidia's stock have made $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed.

Persons: Ann Wang, Michael James, James, Elazar, Tom Plumb, Plumb, Matthew Tuttle, Susan Mathew, Chavi Mehta, Medha Singh, Shreyashi Sanyal, Shristi Achar, Amruta, Noel Randewich, Varun H, Shinjini Ganguli, Sharon Singleton, David Gregorio Our Organizations: REUTERS, Nvidia, Philadelphia Semiconductor, Marvell Technology, Devices Inc, Intel, Nasdaq, Wedbush Securities, Reuters, Elazar Advisors, Rosenblatt Securities, Plumb Funds, Partners, Tuttle Capital Management, Thomson Locations: Taipei, Taiwan, Clara , California, Bengaluru, Chibuike, New York, Oakland , California

The logo of Nvidia Corporation is seen during the annual Computex computer exhibition in Taipei, Taiwan May 30, 2017. Nvidia's stock price, though, has more than tripled this year and was set to hit an all-time high after Wednesday's results. The company has a near-monopoly on the computing systems used to power services like ChatGPT, OpenAI's blockbuster generative AI chatbot. Huang declined to comment on whether the AI boom will last past next year. The company said the biggest sales driver this quarter was its HGX system, which is an entire computer built around Nvidia's chip.

Persons: Tyrone Siu, Huang, Jensen Huang, quashing, Kinngai Chan, Chan, Dylan Patel, SemiAnalysis, Patel, We're, Stephen Nellis, Max Cherney, Chavi Mehta, Sonali Paul Organizations: Nvidia Corporation, REUTERS, Nvidia, Reuters, Microsoft, Summit, Thomson Locations: Taipei, Taiwan, OpenAI, San Francisco

☆ Nvidia results burnish AI rally, lift global tech shares
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +3 min

Nvidia's shares rose to $510.14 in premarket trading, set to surpass a record high of $481.87 hit earlier this week. That represents another three-fold increase in the stock's value from current levels. Elsewhere, shares of Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW), which supplies to Nvidia, rose 2.2%. A lot rested on Nvidia posting strong results, as most of the S&P 500's over 15% year-to-date gains have come from the AI-driven rally in Nvidia and other Big Tech stocks. Investing.com analyst Thomas Monteiro said Nvidia's results validated "the narrative that has been propping tech stocks in general this year."

Persons: Ann Wang, ”, Hargreaves, Sophie Lund, Yates, Elazar, Bernstein, Stacy Rasgon, Ipek Ozkardeskaya, Thomas Monteiro, Susan Mathew, Chavi Mehta, Varun Organizations: REUTERS, Nvidia, Elazar Advisors, Rosenblatt Securities, Devices, Micron Technology, Broadcom, Marvell Technology, Taiwan Semiconductor Manufacturing, ASM International, BE Semiconductor, Aixtron, Swissquote Bank, Big Tech, Thomson Locations: Taipei, Taiwan, Bengaluru

☆ Nvidia's forecast lifts AI stocks and Nasdaq futures
▼ + stars: | 2023-08-23 | by ( Noel Randewich | ) www.reuters.com time to read: +2 min

S&P 500 E-Mini futures rose 0.5% and Nasdaq E-Mini futures climbed 0.9%, suggesting Wall Street is likely to open with gains on Thursday. Investors this week had anticipated Nvidia's results report as a potential spark to reignite gains in a sluggish U.S. stock market. Nvidia's forecast added to investor optimism. Big Tech and AI-related stocks saw their stock market values increase by over $70 billion, on top of Nvidia's increased value, as their shares climbed following the report. Nvidia forecast third-quarter revenue of about $16 billion, plus or minus 2%.

Persons: Ann Wang, Jacob Bourne, Noel Randewich, Chavi Mehta, David Gregorio, Bill Berkrot Organizations: REUTERS, Santa, Nasdaq, Nvidia, Intelligence, Big Tech, Microsoft, Google, Palantir Technologies, Devices, Broadcom, Marvell Technology, Micro, Refinitiv, Thomson Locations: Taipei, Taiwan, U.S, Santa Clara , California, Oakland, Calif, Bangalore

☆ SpaceX working with Cloudflare to speed up Starlink service- The Information
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +1 min

SpaceX logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsAug 23 (Reuters) - Elon Musk-owned SpaceX is working with Cloudflare (NET.N) to boost the performance of its satellite internet service Starlink, the Information reported on Wednesday, citing a person with direct knowledge of the project. Starlink is one of a growing number of makers of small satellites that are focused on providing satellite-based internet, including Amazon.com's (AMZN.O) Kuiper, Britain's OneWeb and venture capital-backed Planet. Cloudflare did not immediately respond to a Reuters request for comment. Reporting by Jose Joseph and Chavi Mehta in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Elon Musk, Starlink, Cloudflare, Jose Joseph, Chavi Mehta, Shailesh Organizations: SpaceX, Elon, REUTERS, Thomson Locations: Bengaluru

☆ Nvidia forecasts third-quarter revenue above Wall Street expectations
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

Aug 23 (Reuters) - Chip designer Nvidia (NVDA.O) forecast third-quarter revenue above Wall Street targets on Wednesday, boosted by soaring demand for its chips that power nearly all the world's major artificial intelligence apps. The company forecast third-quarter revenue of about $16.00 billion, plus or minus 2%. Analysts polled by Refinitiv on average were expecting $12.61 billion. Reporting by Chavi Mehta in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Nvidia, Chavi Mehta, Maju Samuel Organizations: Wall, Refinitiv, Thomson Locations: Bengaluru

Here, workers in black uniforms churn out a brand-new electric scooter every 90 seconds, while executives review the company’s skyrocketing sales. Mehta is the 33-year-old CEO of Ather Energy, an electric scooter manufacturer that has enjoyed a recent explosion of demand. “That’s an incredible jump.”The push has been fueled by strong state support, particularly through a policy known as “FAME,” or the Faster Adoption and Manufacturing of Electric Vehicles. Electric two-wheelers on display at the Hero Electric Vehicles headquarters in Gurgaon, India, in 2021. BluSmart is an Indian ride-hailing startup that uses an all-electric fleet, relying heavily on charging infrastructure.

Persons: Tarun Mehta, Mehta, ” Mehta, pedaling, MotoCorp, ”, Brajesh Chhibber, “, Bain, That’s, Anindito Mukherjee, Anmol Singh Jaggi, Fadnavis, Chhibber, ” Chhibber, Jaggi Organizations: India CNN —, Ather Energy, “, CNN, McKinsey, Manufacturing of Electric Vehicles, EV, Economic, Ministry of Heavy Industries, Hero Electric Vehicles, Bloomberg, Getty, ” Locations: Hosur, India, Indian, Bangalore, New Delhi, Delhi, Gurgaon, Gurugram

Nvidia shares have nearly tripled in value this year, adding more than $700 billion to the company's market valuation and making it the first trillion-dollar chip firm. If Nvidia shows weakness, we could be in for quite a substantial correction in the market." Nvidia has only forecast revenue below estimates once in the past two years. Citi analysts said last week they were only modeling a revenue forecast of around $12 billion, but buy-side expectations have gone up to $14 billion. AMD expects to start shipping the chip in the fourth quarter and could control roughly 10% of the AI chip market next year, analysts said.

Persons: Ann Wang, Inge Heydorn, Heydorn, Piper, Harsh Kumar, doesn't overcharge, Kumar, Chavi Mehta, Aditya Soni, Anil D'Silva Organizations: REUTERS, Nvidia, Big Tech, GP, AMD, Citi, Google, Reuters, Thomson Locations: Taipei, Taiwan, China, Bengaluru

☆ Instacart’s slow IPO delivery spoils the goods
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Aug 18(Reuters Breakingviews) - Instacart may finally be in the market for new investors. The grocery delivery company is set to submit an initial public offering prospectus to regulators as soon as next week, Bloomberg reported. Fund managers were on a shopping spree when Simo was appointed Instacart’s boss in August 2021. The slow IPO delivery has spoiled the goods. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Apoorva Mehta, Fidji Simo, Simo, Jay Ritter, Instacart, Andreessen Horowitz, Rowe Price, Jennifer Saba, EY’s loveless, Jeffrey Goldfarb, Sharon Lam Organizations: Reuters, Bloomberg, University of Florida, Twitter, TPG, Thomson

☆ Amazon adds a new fee for sellers who ship their own packages
▼ + stars: | 2023-08-16 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Amazon is adding a new charge for third-party sellers who ship their own products instead of paying for the company's fulfillment services. Previously, there was no such fee for sellers. The e-commerce giant also charges sellers a referral fee between 8% and 15% on each sale. Regulators have examined whether Amazon pressures sellers into using its services in exchange for preferential treatment on the marketplace. In a blog post on Monday, the company argued sellers continue to flock to its sprawling marketplace "because it's a great value."

Persons: Amazon's, hasn't, Sellers, Dharmesh Mehta Organizations: CNBC, Amazon, Bloomberg, Regulators, Federal Trade Commission Locations: SFP, U.S

☆ AMC Entertainment to effect 10:1 reverse split on Aug. 24
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Mario AnzuoniAug 14 (Reuters) - AMC Entertainment Holdings (AMC.N) said on Monday its 10-to-1 reverse stock split will take place on Aug. 24 and its preferred shares "APE" will be converted to common stock on Aug. 25. The common shares of the theatre chain operator fell 38% to $3.25 in premarket trading, while its preferred shares rose 18% to $2.09. AMC aims to increase its Class A common stock to 550 million from about 524 million, it said in a regulatory filing. The company would make a settlement payment of one Class A common stock for every 7.5 Class A shares to the entitled shareholders after the reverse stock split. AMC was sued in February for allegedly rigging a shareholder vote that would allow it to convert preferred stock to common stock and issue hundreds of millions of new shares.

Persons: Mario Anzuoni, Chavi Mehta, Arun Koyyur Organizations: AMC, REUTERS, AMC Entertainment Holdings, Thomson Locations: Burbank , California, U.S, Delaware, Bengaluru

☆ India's Adani group stocks hit by first auditor quitting over Hindenburg report
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. Adani Ports said Deloitte, which does not audit any of the other six listed Adani group companies, had all the necessary information and its reason to quit was "not convincing." "The spotlight is back on Adani Group stocks and this time the auditor has raised concerns and resigned. The flagship Adani Enterprises (ADEL.NS) dropped 5.5%, while Adani Power (ADAN.NS), Adani Energy Solutions (ADAI.NS), Adani Wilmar (ADAW.NS), Adani Green Energy (ADNA.NS) and Adani Total Gas (ADAG.NS) declined between 3% and 5%. "In the near term, the Adani group stocks will likely remain under pressure and any re-rating will happen gradually when the water settles down."

Persons: Amit Dave, Hindenburg, Gautam Adani, Prashant Tapse, Adani, Avinash Gorakshakar, Rama Venkat, Savio D'Souza Organizations: Adani, REUTERS, Deloitte, Reuters, Adani Ports, Mehta, Adani Enterprises, Adani Energy Solutions, Energy, Profitmart Securities, Associates, BDO International, Thomson Locations: Ahmedabad, India, BENGALURU, Bengaluru

☆ Top Wall Street analysts pick these dividend stocks for solid returns
▼ + stars: | 2023-08-13 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +7 min

Here are five attractive dividend stocks, according to Wall Street's top experts on TipRanks, a platform that ranks analysts based on their past performance. Nonetheless, Goldman Sachs analyst Neil Mehta recently upgraded Chevron to buy from hold, citing leading capital returns and inflection in free cash flow next year. Regarding capital returns, Mehta noted that Chevron has grown its dividends for more than 25 years. (See Chevron Stock Chart on TipRanks)ConocoPhillipsMehta is also bullish on another dividend-paying energy stock – ConocoPhillips (COP). The analyst projects a capital return yield of 7% in 2024, with room for further upside.

Persons: Michael Wirth, Adam Jeffery, Wall, Goldman Sachs, Neil Mehta, Mehta, TipRanks, ConocoPhillips Mehta, Nitin Kumar, Kumar, Baird, Tristan Gerra, Gerra Organizations: Chevron, CNBC, Chevron Energy, Exxon, ConocoPhillips, Mizuho, Seagate Technology Seagate, Seagate, STX Locations: Russia, Ukraine, Tengiz, China

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