BEIJING, Oct. 8, 2024 /PRNewswire/ — Baidu (NASDAQ:), Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced certain management rotation. Mr. Rong Luo will be serving as Executive Vice President in charge of the Baidu Mobile Ecosystem Group (MEG), and no longer serve as Chief Financial Officer, effective immediately. Concurrently, Mr. Junjie He has been appointed as the Interim Chief Financial Officer of the Company, transitioning from his current position as Senior Vice President and Head of the Baidu Mobile Ecosystem Group (MEG). This…
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(Bloomberg) — Hon Hai Precision Industry Co. (2317.TW, HNHPF) plans to boost server capacity to meet stronger-than-anticipated demand for Nvidia Corp. (NVDA) chips used to develop AI, reflecting its expectations that spending on artificial intelligence will stay high.Most Read from BloombergChairman Young Liu told Bloomberg Television that demand for the next-generation Blackwell chips was “crazy,” echoing similar remarks from Nvidia Chief Executive Officer Jensen Huang last week.Young Liu, chairman of Hon Hai, also known as Foxconn, delivers a speech at the company’s tech day in Taipei, Taiwan, Tuesday, Oct. 8, 2024. (AP Photo/Chiang Ying-ying) (ASSOCIATED PRESS)The Taiwanese company is now…
Image source: Getty Images My long-preferred method of making passive income (money that comes from minimal effort) is investing in shares that pay dividends. The only real work involved is picking promising stocks in the first place and then monitoring their progress periodically. I started doing this around 35 years ago, which turned out to be a good thing to do. The earlier an investor begins this journey the more time there is for dividends to be paid. Additionally beneficial is that the more time that passes, the greater the chance that a stock can recover from any transitory shock.…
On Tuesday, RBC Capital adjusted its stance on CEMEX (NYSE:CX) stock, shifting from an Underperform to a Sector Perform rating, albeit with a reduced price target of $6.50, down from the previous $9.00. The upgrade follows a period of underperformance in CEMEX’s share price. The analyst from RBC Capital cites recent improvements in CEMEX’s financial health, including credit rating upgrades and strategic divestments of SCAC assets, as key factors making the stock more appealing from a risk/reward perspective since their initial assessment in May. Despite the upgrade, the analyst acknowledges that the upcoming U.S. election poses uncertainties for CEMEX’s share…
Image source: Getty Images When a lot of us think about the shining stars across the pond in the S&P 500, our minds immediately go to Nvidia. This is for good reason, as the stock’s risen 152% so far in 2024. However, there’s one company that’s performed even better, gaining a whopping 259% in this calendar year. Let’s dig in. Details to note The company I’m referring to is Vistra Corp (NYSE:VST). It’s an integrated retail electricity and power generation company, noted as the largest competitive power generator in the US. Vistra’s been around for several years, so some might…
(Bloomberg) — Chinese stocks underperformed the rally that occurred while they were closed for a week, as investors counting on Beijing to produce more stimulus were underwhelmed. A key gauge in Hong Kong plunged the most in 16 years and European futures declined.Most Read from BloombergThe benchmark CSI 300 opened up 11% then pared gains to 2% after widely anticipated stimulus measures were absent from a press conference in Beijing. The index recouped a bit after. A gauge of Chinese stocks in Hong Kong tumbled the most intraday since 2008 as some investors took profit and rotated to mainland shares.…
Chairman of Foxconn Young Liu delivers a speech during the Hon Hai Tech Day in Taipei on Oct. 18, 2023.I-hwa Cheng | AFP | Getty ImagesThe boom in corporate investment into artificial intelligence infrastructure still has some way to go as large language models are continuing to evolve, according to the CEO of Foxconn, a key supplier to Apple.Speaking with CNBC’s Emily Tan, Chief Executive and Chairman of Foxconn Young Liu, said that the AI boom “still has some time to go” as advanced language models from the likes of OpenAI are becoming increasingly intelligent with each new iteration that…
By Maria Martinez (Reuters) -German industrial production rose by a larger than expected 2.9% in August from the previous month thanks to an increase in automotive industry output, the federal statistics office said on Tuesday. Analysts polled by Reuters had predicted a 0.8% rise. Still, the less volatile three-month on three-month comparison showed that production was 1.3% lower in the period from June to August than in the previous three months. Production in the automotive industry is fluctuating considerably from month to month and this has an impact on the monthly development of production as a whole, the statistics office…
(Bloomberg) — A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.Most Read from BloombergThe benchmark CSI 300 Index was 5.1% higher after surging almost 11% in the opening minutes. Equities pared gains after officials at China’s top economic planner — the National Development and Reform Commission — held back in unleashing any more major stimulus at a press briefing.A gauge of Chinese shares listed in Hong Kong tumbled as much as 11% after having climbed by almost the same amount in…
Image source: Getty Images I buy FTSE growth shares with the aim of holding through thick and thin, to give them time to realise their full potential. But is this the right strategy? Instead of buying and holding, a different school of thought suggests investors sell their winners every year or so, and reinvest their gains in some of their worst performers. This works on the assumption that stock performance is cyclical. Successful stocks tend to be expensive, poor performers cheaper. Selling high and buying low is every investor’s dream, isn’t it? Time to buy, hold or sell? Also, success…