1h ago
S&P 500, Nasdaq 100 futures slip 0.19% and 0.59% as chip and AI stocks weigh ahead of Nvidia results and Warsh’s Jackson Hole remarks
U.S. stock index futures traded lower in premarket action, with S&P 500 and Nasdaq 100 EMini futures down 0.19% and 0.59%. Chip and tech sentiment was pressured after Samsung Electronics slid more than 8% in Seoul on disappointment over its shareholder return plan. Alibaba Group fell more than 8% in Hong Kong after raising HK$80 billion ($10.2 billion) to fund AI investments, while SoftBank Group dropped over 5% in Tokyo after outlining a record 1 trillion yen ($6.3 billion) retail bond sale for AI funding.
1h ago
1h ago
Japan’s Nikkei falls 0.7% as AI-linked shares slide ahead of Nvidia earnings
Japan’s Nikkei 225 closed down 0.7%, with AI-themed stocks broadly under pressure as Fujikura, Advantest and SoftBank Group posted steep declines, while chip-equipment maker Tokyo Electron rose. South Korea’s KOSPI fell 3.1% led by a drop in Samsung Electronics, and China’s Alibaba slid sharply after a large share placement. Markets are watching Nvidia’s earnings and the Bank of Japan’s interest-rate policy.
1h ago
2h ago
Comstock closes legacy mining asset sale to Mackay Precious Metals for more than $45 million
Comstock has completed the sale of its mining assets to Mackay Precious Metals, valuing the transaction at more than $45 million. The company has received $20 million in cash and shares currently valued at about $4.5 million, with a secured second-tranche payment of $7 million due within 18 months. Comstock expects to record a gain of approximately $10 million to $12 million and will retain a 1.5% net smelter return royalty.
2h ago
2h ago
Goodyear says Fayetteville plant closure will help reshape Americas manufacturing network
Goodyear reiterated the planned closure in its Aug. 5 second-quarter earnings announcement, saying the Fayetteville facility will be closed as part of a strategy to “align its footprint with its evolving product portfolio and improve the competitiveness of its manufacturing network in the Americas.” The company expects the action to improve Americas segment operating income by about $90 million in 2027 and approximately $270 million annually beginning in 2028, according to the earnings release.
2h ago
2h ago
Indian automakers’ sales surge, but margins shrink as costs climb
Indian carmakers are posting strong sales growth, but profitability is weakening as costs rise. Maruti Suzuki recorded a June-quarter sales volume high, yet net profit fell 10.8% year on year and its EBITDA margin narrowed to 8.6% from 12.6%. Tata Motors’ passenger-vehicle revenue jumped 64.8%, but its EBITDA margin was 4.3%. Higher copper and aluminium prices and rising logistics expenses are continuing to squeeze manufacturers’ margins.
2h ago
3h ago
PTC India Financial Services FY202526 net profit rises 47.14% to ₹319.36 crore
PTC India Financial Services reported FY2025-26 net profit of ₹319.36 crore, up 47.14% year on year, helped mainly by a ₹(151.03) crore reversal of impairment on financial instruments. Total income fell 18.77% to ₹518.25 crore, while finance costs declined 30.08% to ₹224.49 crore. Asset quality improved, with Gross Stage III loans dropping from ₹711 crore to ₹190.03 crore and net NPAs falling from ₹117 crore to ₹46.98 crore. Disbursements rose to ₹1,235 crore and the capital adequacy ratio increased to 66.63%, while the board did not recommend a dividend.
3h ago