Cybersecurity researchers have uncovered a sophisticated malware campaign using fake AI video generation software to steal sensitive data from Windows and Mac users, highlighting new risks as businesses rush to adopt artificial intelligence tools. Security experts warn that the campaign, first reported by Bleepingcomputer, employs stolen code-signing certificates and professional-looking websites. It represents an emerging […]
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Source: https://www.pymnts.com/artificial-intelligence-2/2024/ai-video-tool-scams-target-content-creators/
Global FinTech Revolut plans to offer its customers in the United Kingdom new trading products and features after receiving a U.K. trading license from the Financial Conduct Authority (FCA). The receipt of this license makes Revolut Trading an authorized investment firm, allowing it to improve the user experience and introduce U.K. and European Union stocks […]
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Meta AI says its Ray-Ban smartglasses are now available in four European countries. Beginning Monday (Nov. 18), users in France, Spain, Ireland and Italy can use these artificial intelligence (AI)-powered glasses to get answers to questions, with those responses now available in French, Italian and Spanish, as well as in English. “With Meta AI on […]
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Source: https://www.pymnts.com/meta/2024/meta-launches-ai-powered-ray-bans-for-users-in-europe/
Corpay is extending a payments partnership with international aquatic sports governing body World Aquatics. The agreement will see Corpay’s cross-border business continue to serve as World Aquatics’ official foreign exchange (FX) payments supplier, according to a Monday (Nov. 18) press release. “Over the course of the last three years, we have had the privilege to […]
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Spain has become Europe’s first banking market fully connected to the European Payments Council’s One-Leg Out instant payments plan. The country’s banking industry achieved that milestone earlier this month, Iberpay said in a news release Monday (Nov. 18). As part of the EPC’s One-Leg Out (OCT Inst) program, banks can tap into Iberpay’s service, instant payment technology, standards and processing capabilities allow […]
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Key Takeaways
- MicroStrategy purchased another $4.6 billion worth of bitcoin last week.
- The company’s total bitcoin holdings are now worth roughly $30 billion.
- MicroStrategy sold around 13.6 million shares to fund the most recent bitcoin purchase.
- The company adopted a bitcoin reserve strategy in 2020 and their open-source plan has been used as a blueprint for other publicly traded companies that have purchased the crypto asset.
MicroStrategy (MSTR) made a massive addition to its bitcoin (BTCUSD) holdings over the past week. Over the six days ending on Sunday, the technology company acquired 51,780 BTC for approximately $4.6 billion, according to a recent regulatory filing.
This purchase boosts its total bitcoin holdings to 331,200 BTC, which is worth roughly $30 billion at current prices. Notably, this is still far less than the 471,329 bitcoin held by BlackRock’s iShares Bitcoin Trust (IBIT), which is the largest bitcoin exchange-traded fund (ETF).
MicroStrategy shares were up 8.6% to $370.11 in recent trading and have seen their value quadruple (increase over 440%) year-to-date. Meanwhile bitcoin was trading above the $91,000 level Monday, and has almost doubled in price since the start of the year.
How Much Has MicroStrategy Bet On Bitcoin?
MicroStrategy’s latest acquisition comes as bitcoin continues to surge, with the price recently spiking above $90,000 and hitting new all-time highs. The company’s average acquisition cost across all its bitcoin holdings stands at roughly $49,874 per bitcoin, reflecting a cumulative investment of approximately $16.5 billion.
To fund this most recent bitcoin allocation, MicroStrategy sold approximately 13.6 million shares in the company. This approach aligns with its ongoing “21/21 plan,” an ambitious fundraising strategy to raise $42 billion through equity and fixed-income securities over the next three years.
Since its initial bitcoin purchase in August 2020, MicroStrategy has positioned bitcoin as a core reserve asset, accumulating it to hedge against inflation and diversify its corporate treasury. MicroStrategy has open-sourced its bitcoin reserve strategy, and it has also been adopted by other publicly traded companies such as bitcoin miner Marathon Digital Holdings (MARA) and healthcare company Semler Scientific (SMLR).
Source: https://www.investopedia.com/microstrategy-bought-usd4-6b-worth-of-bitcoin-8747008
Key Takeaways
- Nvidia shares are in the spotlight ahead of the AI darling’s quarterly results later this week and following a report that the company’s next-generation Blackwell chips have encountered issues overheating in servers.
- The stock has hit new record highs this month, but trading volumes have continued to decrease, indicating a lack of buying participation from larger market participants.
- Investors should watch key support levels on Nvidia’s chart around $97, $76, and $48, while monitoring a bars pattern price target near $270.
Nvidia (NVDA) shares are in the spotlight Monday ahead of the artificial intelligence (AI) darling’s quarterly results later this week and following a report that said the company’s next-generation AI chips have encountered issues overheating in servers.
The AI chipmaker, which is due to release its results after the closing bell on Wednesday, is expected to announce that both revenue and profit grew more than 80% from a year ago, according to analysts’ consensus estimates. Investors will also be watching for updates on Nvidia’s Blackwell AI chip shipments, amid concerns that supply constraints could limit the upside of the company’s near-term outlook.
Blackwell chips could also come under further scrutiny after The Information reported on Sunday that they have encountered overheating problems when placed in server racks designed to hold up to 72 graphics processing unit (GPUs).
Nvidia shares were down 0.7% at $141 in late-morning trading Monday, after falling more than 3% earlier in the session. The stock price has nearly tripled since the start of 2024.
Below, we break down the technicals on Nvidia’s weekly chart to identify key price levels other investors may be watching.
Slowing Buying Momentum
After hitting their June peak, Nvidia shares traded within a symmetrical triangle before breaking out above the pattern last month.
However, since that time, the stock has gone on make new highs, but trading volumes have continued to decrease, indicating a lack of buying participation from larger market participants.
Moreover, as the stock has made higher peaks since March, the relative strength index (RSI) has formed comparatively shallower peaks to create a bearish divergence, a chart signal that points to slowing buying momentum.
Let’s take a look at three key support levels on Nvidia’s chart and use technical analysis to project a bullish price target.
Key Support Levels to Watch
A breakdown below the symmetrical triangle could see the shares initially revisit support around $97, a location on the chart where investors may look for buying opportunities near the March peak, which closely aligns with the early-August low.
Selling below this level opens the door for a retracement down to the $76 level, an area on the chart where the stock could encounter support from the mid-April pullback low.
A technical correction in the stock could bring the $48 level into play. This area, which sits about 66% below Friday’s closing price, would likely attract bargain hunters near a range of narrow consolidation that formed on the chart between July 2023 and January.
Bars Pattern Price Target to Monitor
If the AI investor favorite’s shares continue to track higher, we can project a potential bullish target by using a bars pattern, a technique that analyzes prior trends to predict future price moves.
When applying the tool to Nvidia’s chart, we extract the stock’s trending move from January to June and reposition it from last month’s symmetrical triangle breakout point. This projects a bullish target of around $270, a location where investors may decide to lock in profits.
We selected this prior move because it commenced following a breakout from a consolation period, similar to how the current move higher has started and may play out if price history rhymes.
The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info.
As of the date this article was written, the author does not own any of the above securities.
Source: https://www.investopedia.com/nvidia-stock-price-levels-to-watch-as-earnings-report-looms-8746934
Shaquille O’Neal, Ernie Johnson Jr., Kenny Smith, and Charles Barkley (L-R) during a live presentation of “Inside the NBA” in Boston, Oct. 22, 2024 .
Key Takeaways
- Warner Bros. Discovery has settled its breach of contract lawsuit against the National Basketball Association, reaching a deal to extend their decades-long partnership.
- The upshot: WBD will get some overseas broadcast rights to NBA games starting with the 2025-26 NBA season, with U.S. rights headed to other companies.
- Meanwhile, the award-winning “Inside the NBA” will be licensed to ABC and ESPN starting next season.
The good news for fans of “Inside the NBA” is that the show isn’t going away. It is, however, getting a new home.
A settlement, announced Monday, resolves Warner Bros. Discovery’s (WBD) breach of contract lawsuit against the National Basketball Association, extending their decades-long partnership even as the actual games will move elsewhere. Meanwhile, beloved studio show “Inside” will remain on the air—albeit no longer on WBD-owned TNT starting next season.
In July, the NBA announced the winners of its new 11-year media rights deal, reportedly worth $77 billion, beginning with the 2025-26 season: The Walt Disney Co.’s (DIS) ABC and ESPN; Comcast (CMCSA) unit NBCUniversal’s NBC and Peacock streaming service; and Amazon’s (AMZN) Prime Video.
Left out in the cold was Warner Bros. Discovery, which sued the NBA after the league accepted Amazon’s reported bid of $1.8 billion a year. Warner Bros. Discovery’s TNT Sports unit has held NBA rights since the late 1980s.
The new deal grants WBD “live NBA game telecast rights in the Nordics (Denmark, Finland, Norway and Sweden), along with Poland and Latin America (excluding Brazil and Mexico) for the next 11 years.” The company also has “license to create, produce and distribute new and existing NBA content across its platforms,” as well as “expanded global content and highlight rights for TNT Sports, Bleacher Report and House of Highlights.”
‘Inside the NBA’ To Be Licensed To Disney’s ESPN, ABC
Meanwhile, the award-winning “Inside the NBA”—which features host Ernie Johnson and analysts Charles Barkley, Shaquille O’Neal, and Kenny Smith—will be licensed to The Walt Disney Co.’s ABC and ESPN starting next season. TNT Sports will continue to produce the program.
The Wall Street Journal first reported the settlement and the “Inside the NBA” news over the weekend.
Warner Bros. Discovery shares were recently up about 2%, down some 17% this year so far.
Source: https://www.investopedia.com/wbd-settles-with-nba-inside-the-nba-moving-to-abc-espn-8746809
Nvidia CEO Jensen Huang at the Nvidia AI Summit Japan in Tokyo, Japan, on Nov. 13, 2024
Key Takeaways
- More than 90% of reports from S&P 500 companies are in, with third-quarter profits up 6.8% year-over-year.
- Still, this will be a busy week of earnings, with results set to come from Walmart and other big retailers.
- Tech giant Nvidia’s results, due after Thursday’s closing bell, “can dictate the near-term direction of the market,” Bank of America analysts wrote.
Earnings season is almost done—but a big finale is expected this week.
More than 90% of reports from S&P 500 companies are in, according to a Monday note from Oppenheimer, which said third-quarter profits are up 6.8% year-over-year—with eight of the benchmark index’s 11 sectors reporting rising earnings—on the back of 5% revenue growth.
Those numbers are a bit higher than FactSet’s “blended” figure, which combines reported results with estimates for those yet to announce; as of Friday, those were at 5.4% for profits and 5.5% for revenue. “Results are showing a robust third quarter,” Oppenheimer wrote.
Still, some of the biggest events on the calendar remain ahead. Retailers Walmart (WMT) and Lowe’s (LOW) are set to deliver results Tuesday, while Target (TGT) and TJX (TJX) are expected to deliver their numbers a day later. Taken together, the results—and any updates to the companies’ outlooks—could offer fresh perspective on the state of the consumer ahead of Black Friday.
The main event, however, may come Thursday after the bell, when chip giant Nvidia (NVDA) is set to report results. Big Tech broadly has so far exceeded Wall Street’s earnings growth expectations in the third-quarter, UBS strategist Jonathan Golub noted last week.
The last of the Magnificent Seven tech giants to report, Nvidia—one of the best-performing stocks in the S&P 500 this year—is expected to both deliver big revenue growth and illustrate the state of ongoing demand for the technology underpinning artificial intelligence.
Nvidia is “the most dominant stock in the market,” Bank of America analysts wrote in a Sunday note, saying it is responsible for a fifth of the S&P 500’s return over the past 12 months. “With the market taking a breather last week following the election rally, we believe Nvidia earnings can dictate the near-term direction of the market.”
Key Takeaways
- President-elect Trump tapped Liberty Energy CEO Chris Wright as secretary of energy for his second term.
- Wright also sits on the board of Oklo, a nuclear energy company backed by OpenAI CEO Sam Altman.
- Shares of both companies rose Monday following Trump’s announcement.
Shares of Liberty Energy (LBRT) rose Monday after Chief Executive Officer (CEO) Chris Wright was tapped by President-elect Donald Trump to be energy secretary.
Liberty Energy is an oilfield services and fracking company founded by Wright with a market capitalization of nearly $3 billion. Its stock gained more than 3% an hour after after the opening bell Monday.
Wright also sits on the board of Oklo (OKLO), a nuclear energy company backed by OpenAI CEO Sam Altman. Oklo stock soared 12% and is up about 90% in 2024.
Wright has advocated for the oil and gas industry, saying in a video posted to LinkedIn last year that “there is no climate crisis, and we’re not in the midst of an energy transition, either.”
Trump said his new secretary of energy, pending Senate confirmation, will also serve on the newly created Council of National Energy alongside North Dakota Gov. Doug Burgum, whom Trump appointed as secretary of the interior.
