Author: AJ Fabino

[ad_1] Gold mining company Calibre Mining Corp CXBMF issued its second-quarter earnings Wednesday, showing continued growth in multiple areas. Here are the key highlights from the print.By The Numbers: Calibre posted record gold sales over the second quarter at 69,009 ounces, bringing in a revenue of $139.3 million. The gold was sold at an average realized gold price of $1,974 per ounce.The company brought in a record adjusted net income of $33.6 million, translating to 7 cents per share, a jump of 133% compared to the same quarter last year.Free cash flow stood at $15.9 million, and cash reserve climbed…

[ad_1] As we pivot into week 14 of our ongoing series “Is ChatGPT A Better Financial Advisor?” series, the stakes keep heightening.With 14 weeks in the rearview, let’s see if ChatGPT can inch closer to the stalwarts of Wall Street. As a reminder, we’ve handed ChatGPT a cool $10,000 (hypothetically, of course) to see if its portfolio recommendations can compete with some of the market’s heavyweight funds like the SPDR S&P 500 SPY and the Invesco Trust Series 1 QQQ.Also Read: New Photo Shows Just How Aggressive The Tesla Cybertruck Can LookHere’s How They Stack Up After 14 Weeks:Fund/ETF14-Week PerformanceSPDR…

[ad_1] The New York Stock Exchange and Nasdaq Inc NDAQ are aggressively vying for the choicest new stock listings as signs of a revived IPO market emerge.What Happened: The competition over new stock listings between the two market exchanges has reignited, indicating a resurgence in the IPO market after a considerable hiatus, according to a Wednesday Wall Street Journal report.Nasdaq recently secured the imminent listings of grocery delivery firm Instacart and chip designer Arm. In contrast, NYSE clinched deals with the marketing-automation platform Klaviyo and German footwear brand Birkenstock.While the IPO market has been relatively quiet due to macro factors…

[ad_1] Shares of electric vehicle company Rivian Automotive Inc RIVN are trading lower Wednesday after the company issued its second-quarter earnings print after the market close on Tuesday. The report indicated continued momentum in production, improved cost efficiency, the successful introduction of new technologies and enhancement in the customer experience.Here’s what investors need to know, and what top analysts think about the stock.Earnings By The Numbers: Rivian posted second-quarter revenue of $1.12 billion, beating the Street consensus estimate of $978.9 million. The company reported an adjusted loss of $1.08 per share, which came ahead of the anticipated loss of $1.41…

[ad_1] Under Armour Inc UAA UA issued a first-quarter earnings beat Tuesday ahead of analyst expectations on revenue and profit expectations. The Baltimore, Maryland-based company also enlisted artificial intelligence (AI) to revive a 20-year-old ad-campaign. Here’s what investors need to know.By The Numbers: Under Armour issued earnings of 2 cents per share, ahead of the expected 3 cent loss. Revenues of $1.32 billion beat the $1.3 billion consensus.While wholesale revenue declined 6% year-on-year to $742 million, direct-to-consumer revenue saw a 4% uptick to $544 million.Under Armour’s inventory marked a noticeable 38% year-on-year increase, standing at $1.3 billion. Read more on…

[ad_1] Philadelphia Federal Reserve Bank President Patrick Harker on Tuesday hinted at a potential pause in the Fed’s interest rate hiking cycle, an indication the Fed may be done with its most rate hike campaign.What Happened: Speaking at a Philadelphia Business Journal event, Harker said, “Absent any alarming new data between now and mid-September, I believe we may be at the point where we can be patient and hold rates steady and let the monetary policy actions we have taken do their work.”He also underscored the likely longevity of a pause, sidelining any immediate chances of easing rates.Expanding on the…

[ad_1] The AI tidal wave that started with a ripple in late 2022, courtesy of OpenAI’s ChatGPT, since engulfed the tech and business landscape of 2023.Everywhere investors turned, AI dominated the narrative. It was prominent in earnings reports and even more so in earnings calls with giants such as Alphabet Inc GOOG GOOGL and Microsoft Corp MSFT mentioning the buzzword a combined 113 times during their most recent earnings calls.But as investors scrambled in the second quarter to catch the wave, the Oracle of Omaha, Warren Buffett, seems to have been already surfing in it.What Happened: Buffett’s Berkshire Hathaway Inc…

[ad_1] Russia, after nearly half a century, is marking its return to the Moon.The nation’s space agency, Roscosmos, is making final preparations for the Aug. 11 Luna-25 mission, its first lunar lander since the heyday of the Apollo era.But this time, it’s not just about reaching our celestial neighbor; it’s about advancing technology, exploring resources, and reasserting Russia’s power in space exploration.Read Also: Elon Musk Says Starlink Works ‘Quite Well’ In One Of Earth’s Harshest Places For A Simple ReasonWhat Happened: Launching from the Vostochny Cosmodrome, some 3,450 miles east of Moscow, the Luna-25 mission leverages Russia’s most modern spaceport,…

[ad_1] U.S. Securities and Exchange Commission (SEC) chair Gary Gensler is sounding the alarm on the transformative impact of artificial intelligence (AI), saying that it may have wide-ranging impacts on the financial markets.What Happened: Reflecting on a paper he co-authored in 2020 on deep learning and financial stability, Gensler expressed a concern that only a handful of companies might build the core models foundational to the technology many businesses — and the U.S. — will adopt.That concentration, Gensler said, will “be the center of future crises, future financial crises.”U.S. reliance on just a handful of foundational models is going to…

[ad_1] Former President Donald Trump pleaded not guilty on Thursday to four federal charges related to his alleged efforts to overturn the 2020 presidential election results. If convicted, Trump’s status as an ex-president entitled to lifetime Secret Service protection, could trigger a complex political and logistical puzzle.What Happened: Some current and former U.S. officials suggest his situation could determine whether he goes to prison and how his imprisonment might be handled, according to the Washington Post.Chuck Rosenberg, a former top federal prosecutor, commented on the possibility of Trump facing prison, stating, “Theoretically, yes and practically, no.” The scenario of a former president being…