Jonathan Wong
The Latest
-
Goldman Sachs Profit Jumps 22% to $3.72 Billion as Trading and Deal Activity Surge Past Forecasts
Goldman Sachs reported second-quarter earnings of $3.72 billion, or $10.91 per share, surpassing analyst expectations as its trading and investment banking divisions delivered strong results. The Wall Street giant's profit rose 22% from the same period a year earlier, with total revenue climbing 15% to $14.58 billion, exceeding the $13.47 billion consensus forecast compiled by LSEG. 
Goldman Sachs reported second-quarter earnings of $3.72 billion, or $10.91 per share, surpassing analyst expectations as its trading and investment banking divisions delivered strong results. The Wall Street giant's profit rose 22% from the same period a year earlier, with total revenue climbing 15% to $14.58 billion, exceeding the $13.47 billion consensus forecast compiled by LSEG. -
Bank of America Tops Profit Estimates on Trading Surge, But Misses Revenue Target Amid Investment Banking Drag
Bank of America posted a 3% increase in second-quarter profit, driven by robust trading revenues and higher net interest income, although overall revenue came in slightly below Wall Street expectations. The Charlotte-based lender reported net income of $7.12 billion, or 89 cents per share, surpassing analysts' forecast of 86 cents per share compiled by LSEG. 
Bank of America posted a 3% increase in second-quarter profit, driven by robust trading revenues and higher net interest income, although overall revenue came in slightly below Wall Street expectations. The Charlotte-based lender reported net income of $7.12 billion, or 89 cents per share, surpassing analysts' forecast of 86 cents per share compiled by LSEG. -
Apple Commits $500 Million to MP Materials to Boost U.S. Rare Earth Magnet Supply
Apple Inc. (NASDAQ:AAPL) announced a $500 million commitment to MP Materials (NYSE:MP) to expand the domestic supply of rare earth magnets used in its products, marking a significant step in the U.S. push to reduce dependence on China for critical materials. The multiyear deal will support new manufacturing and recycling facilities in Texas and California and aligns with broader national security priorities championed by the Trump administration. 
Apple Inc. (NASDAQ:AAPL) announced a $500 million commitment to MP Materials (NYSE:MP) to expand the domestic supply of rare earth magnets used in its products, marking a significant step in the U.S. push to reduce dependence on China for critical materials. The multiyear deal will support new manufacturing and recycling facilities in Texas and California and aligns with broader national security priorities championed by the Trump administration. -
Fuel Cutoff Triggers Air India Flight 171 Crash, Killing 260: Report Cites Mysterious Cockpit Switch Activation
India's aviation authority has released preliminary findings into the June 12 crash of Air India Flight 171, revealing that both engines of the Boeing 787 Dreamliner lost power seconds after takeoff when their fuel-control switches moved to the "cutoff" position. The incident, which killed 260 people and left only one survivor, is being described by investigators as an anomaly that has raised serious concerns about mechanical operation and cockpit dynamics. 
India's aviation authority has released preliminary findings into the June 12 crash of Air India Flight 171, revealing that both engines of the Boeing 787 Dreamliner lost power seconds after takeoff when their fuel-control switches moved to the "cutoff" position. The incident, which killed 260 people and left only one survivor, is being described by investigators as an anomaly that has raised serious concerns about mechanical operation and cockpit dynamics. -
Linda Yaccarino Resigns as CEO of X Amid Antisemitism Crisis and xAI Takeover
Linda Yaccarino announced Wednesday that she will step down as CEO of Elon Musk's social media platform X, ending a turbulent two-year tenure marked by falling user engagement, advertiser defections, and mounting scrutiny over hate speech and content moderation. 
Linda Yaccarino announced Wednesday that she will step down as CEO of Elon Musk's social media platform X, ending a turbulent two-year tenure marked by falling user engagement, advertiser defections, and mounting scrutiny over hate speech and content moderation. -
Merck to Acquire Verona Pharma for $10 Billion to Boost COPD Drug Portfolio
Merck & Co. said Wednesday it will acquire London-based Verona Pharma in a $10 billion all-cash deal, bolstering its respiratory treatment portfolio as the company moves to reduce long-term dependence on its blockbuster cancer drug Keytruda. 
Merck & Co. said Wednesday it will acquire London-based Verona Pharma in a $10 billion all-cash deal, bolstering its respiratory treatment portfolio as the company moves to reduce long-term dependence on its blockbuster cancer drug Keytruda. -
Samsung Forecasts 56% Profit Drop on AI Chip Curbs and U.S. Tariffs, Misses Market Estimates
Samsung Electronics said Tuesday it expects a 56% drop in second-quarter operating profit, signaling continued pressure on the South Korean tech giant's core semiconductor business due to U.S. export controls, weak AI chip sales in China, and delayed shipments to key customer Nvidia. 
Samsung Electronics said Tuesday it expects a 56% drop in second-quarter operating profit, signaling continued pressure on the South Korean tech giant's core semiconductor business due to U.S. export controls, weak AI chip sales in China, and delayed shipments to key customer Nvidia. -
Apple Appeals €500 Million EU Fine Over App Store, Slams Brussels for Overreach
Apple has formally appealed a €500 million ($587 million) fine imposed by the European Commission over alleged violations of the Digital Markets Act (DMA), arguing that the ruling unfairly targets its App Store practices and forces it to adopt business terms that confuse developers and harm consumers. The case was filed Monday with the EU General Court in Luxembourg, the bloc's second-highest judicial authority. 
Apple has formally appealed a €500 million ($587 million) fine imposed by the European Commission over alleged violations of the Digital Markets Act (DMA), arguing that the ruling unfairly targets its App Store practices and forces it to adopt business terms that confuse developers and harm consumers. The case was filed Monday with the EU General Court in Luxembourg, the bloc's second-highest judicial authority. -
Tesla Shares Drop 7% as Musk–Trump Rift Escalates, America Party Announcement Sparks Investor Jitters
Tesla shares tumbled as much as 7.6% in premarket trading Monday, following a weekend political clash between CEO Elon Musk and President Donald Trump. Musk's announcement of a new political entity - the "America Party" - and Trump's public rebuke triggered a sharp selloff, wiping billions from Tesla's market capitalization and intensifying investor anxiety over Musk's political distractions. 
Tesla shares tumbled as much as 7.6% in premarket trading Monday, following a weekend political clash between CEO Elon Musk and President Donald Trump. Musk's announcement of a new political entity - the "America Party" - and Trump's public rebuke triggered a sharp selloff, wiping billions from Tesla's market capitalization and intensifying investor anxiety over Musk's political distractions. -
Microsoft to Cut 9,000 Jobs, Trimming 4% of Workforce as Reorg Hits Gaming Division
Microsoft said Wednesday it will lay off approximately 9,000 employees, affecting less than 4% of its global workforce, in a sweeping reorganization aimed at streamlining operations across divisions including gaming and cloud services. The announcement comes at the start of the company's 2026 fiscal year. 
Microsoft said Wednesday it will lay off approximately 9,000 employees, affecting less than 4% of its global workforce, in a sweeping reorganization aimed at streamlining operations across divisions including gaming and cloud services. The announcement comes at the start of the company's 2026 fiscal year.
