Nvidia dethroned Apple as the world’s most valuable company on Friday, following a record-setting rally in the stock powered by an insatiable demand for its new supercomputing AI chips.Nvidia’s stock market value briefly touched $3.53 trillion, while that of Apple was $3.52 trillion, according to data from LSEG.In June, Nvidia briefly became the world’s most valuable company, before it was overtaken by Microsoft and Apple. The tech trio’s market capitalizations have been neck-and-neck for several months. Mi ...

Core Viewpoint - There is emerging activist interest in Bank of America, the second largest bank in the U.S., due to its underperformance and leadership issues [1][3]. Group 1: Bank Performance - Bank of America has shown weak stock performance over the past five years, only outperforming Citigroup and Wells Fargo marginally [1]. - The bank's stock increased by more than 60% over the last year, but it is still perceived as underperforming compared to its peers [3]. Group 2: Leadership Concerns - CEO Brian Moynihan is criticized for a lack of significant new hires and for not effectively utilizing the bank's substantial balance sheet, which is resulting in missed opportunities [2]. - Activists believe that a change in leadership, specifically the removal of Moynihan or an announcement of his early retirement, could lead to a rebound in the bank's stock [3]. Group 3: Comparisons with Competitors - Wells Fargo, under new CEO Charlie Scharf, has seen its stock appreciate significantly, outperforming the S&P 500 over the past year [2]. - Citigroup is also undergoing a transformation under CEO Jane Fraser, focusing on streamlining operations and enhancing leadership [2].

The deadly E.Coli outbreak linked to McDonald’s Quarter Pounder hamburgers grew worse Friday as an additional 26 people were found to have been infected — raising the total to 75, according to federal health officialsThe infections had killed one person, and hospitalized 10 across the West and Midwest, the CDC had said on Tuesday.The new infections include 12 additional hospitalizations and expanded the outbreak to three new states, according to the agency. No additional deaths have been reported beyond the ...

Costco’s introduction of membership card scanners at the front of US stores is still rolling out, but the move is already paying off big for the wholesale club.Morgan Stanley analysts wrote in a note this week that Costco warehouses are seeing as much as low double-digit increases in membership counts after implementing the scanners, and suggested the high conversion rates of previously non-paying customers could lead to the retailer’s “Netflix moment.”The report, led by Simeon Gutman, acknowledged that Cos ...

A McDonald’s supplier recalled yellow onions produced in a Colorado plant in response to a deadly E. coli outbreak at the fast food chain.Taylor Farms, which supplies onions to McDonald’s franchises that are the subject of a multi-state investigation by health authorities, said it was pulling products “out of an abundance of caution” and that it did not find traces of E. coli as of Wednesday.The Food and Drug Administration has pointed to Taylor Farms onions as “a likely source of contamination.” 4 A com ...

Shares of Tesla surged more than 13% before the opening bell on Thursday after CEO Elon Musk told investors he expects the company’s electric vehicle sales to rise by between 20% and 30% next year as preparations are underway for the rolling out of more affordable models.Tesla, whose market capitalization at the close of trading on Wednesday reached nearly $670 billion, is poised to add another $80 billion to its value on Thursday thanks to the optimistic forecast, which calls for a “slight growth” in deliv ...

McDonald’s scrambled on Wednesday to contain the damage from an E. coli outbreak linked to Quarter Pounder burgers that has killed one person and sickened nearly 50 others, as it pulled the menu item from restaurants across a dozen states.The outbreak has sickened people across the US West and Midwest, with 10 hospitalized due to serious complications, according to the US Centers for Disease Control and Prevention (CDC), which is investigating the outbreak.A McDonald’s spokesperson said the outbreak is limi ...

Elon Musk’s Tesla said on Wednesday it expects to achieve slight growth in vehicle deliveries this year and reported a higher-than-expected profit margin for the third quarter, sending shares up 5% after hours.“We delivered strong results in Q3 with growth in vehicle deliveries both sequentially and year-on-year, resulting in record third-quarter volumes,” Tesla said in a statement.“We also recognized our second-highest quarter of regulatory credit revenues.” 3 Tesla said it expects to achieve slight grow ...

McDonald’s yanked Quarter Pounders at roughly one-fifth of its US locations after a deadly E.Coli outbreak was linked to the popular burger, the company said Wednesday. Federal agencies announced Tuesday that one person had died in Colorado and 49 others were sickened in 10 states across the Midwest and WestThe nation’s largest fast-food chain said Wednesday that it is confident the culprit of the outbreak were slivered onions atop the Quarter Pounder. 3 McDonald’s has yanked Quarter Pounders in states w ...

Wall Street’s main indexes slid on Wednesday, with the Dow plunging more than 600 points, as worries of a less dovish Federal Reserve lifted Treasury yields, pressuring megacap stocks and amplifying losses in McDonald’s and Coca-Cola shares.In afternoon trading The Dow Jones Industrial Average tumbled 566 points, or 1.3%, to 42,358. The S&P 500 lost 1.5%, and the Nasdaq dropped more than 2%.The benchmark index is set to log its third consecutive day of decline, if losses hold. 3 The Dow and and S&P 500 we ...