LS WTI Oil ETC (LON:WTI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened
AntGames – Best Platform for Free Online Browser GamesIn a nutshell: Rumors regarding Intel partially divesting its foundry division have circulated since an insider leak last month. The company addressed those rumors this week, confirming its fabrication operation would become an independently run subsidiary. Head honcho Pat Gelsinger calls it "the next phase" of his plan to "transform" Intel into the powerhouse it once was. On Monday, Intel CEO Pat Gelsinger informed employees that the company is transforming its foundry arm into an independent subsidiary, confirming insider leaks from August. According to the press release, disguised as a message to employees, the decision emerged last week after what Gelsinger described as a "highly productive and supportive Board meeting." As an independent subsidiary, the foundry can accept outside investments and allocate funds within a separate budget. This separation will allow the foundry to run more efficiently. "Collectively, these changes are critical steps forward as we build a leaner, simpler and more efficient Intel," Gelsinger said. "And they build on the immediate progress we have made since announcing our plan on August 1 to create a more competitive cost structure." The foundry will keep its current leadership and form an independent board of directors. A confidential source told CNBC that the company is considering turning it into a publicly traded spinoff. Gelsinger says the foundry will expand its relationship with Amazon Web Services (AWS) with co-investments in new chip designs, including an AI chip for AWS and a custom Xeon 6 chip based on Intel's 3nm process. Intel's foundry has been particularly troubled recently. After spending two years and $50 billion expanding its fab operations, the company turned in a dreadful Q2 2024 earnings report . Gelsinger called it "disappointing," but investors promptly launched a class-action suit claiming that executives, including Gelsinger and CFO David Zinsner, issued "materially false and misleading" statements about its foundry business. The news of the foundry split caused stock prices to rebound nearly 22 percent from a low of $18.60 per share just five days ago to $22.66 during trading on Monday. However, it's still a far cry from the $49.55 stock price investors enjoyed in January. Gelsinger remains confident that he can turn things around. In addition to the continued broadening of its AWS relationship, the company received a $3 billion cash injection thanks to the CHIPS ad Science Act. However, the company still plans to cut 15,000 jobs by year's end. Nobody knows if they are getting let go, but the boss said the company would notify "impacted employees" beginning in the middle of next month. It is also divesting two-thirds of its global real estate holdings by the end of the year.
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Northwest Wealth Management LLC increased its holdings in shares of NVIDIA Co. ( NASDAQ:NVDA – Free Report ) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,631 shares of the computer hardware maker’s stock after buying an additional 246 shares during the quarter. NVIDIA accounts for about 0.9% of Northwest Wealth Management LLC’s portfolio, making the stock its 27th largest position. Northwest Wealth Management LLC’s holdings in NVIDIA were worth $3,963,000 as of its most recent SEC filing. A number of other institutional investors also recently bought and sold shares of NVDA. Legal & General Group Plc increased its stake in shares of NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after acquiring an additional 191,469,114 shares during the period. Bank of New York Mellon Corp boosted its position in NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock worth $22,561,200,000 after purchasing an additional 163,482,580 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Dimensional Fund Advisors LP raised its position in shares of NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after acquiring an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of NVIDIA by 808.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds. Insider Activity at NVIDIA In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link . Also, Director Mark A. Stevens sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the completion of the sale, the director now owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. This trade represents a 1.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here . Insiders have sold 1,351,886 shares of company stock valued at $176,825,650 over the last ninety days. Corporate insiders own 4.23% of the company’s stock. NVIDIA Trading Down 2.1 % NVIDIA ( NASDAQ:NVDA – Get Free Report ) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year. NVIDIA Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%. Analyst Upgrades and Downgrades A number of brokerages have recently issued reports on NVDA. Wells Fargo & Company lifted their price target on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 target price on shares of NVIDIA in a research note on Monday, November 18th. Barclays raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Cowen raised their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.15. Get Our Latest Report on NVIDIA NVIDIA Company Profile ( Free Report ) NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications. Read More Five stocks we like better than NVIDIA How Investors Can Find the Best Cheap Dividend Stocks S&P 500 ETFs: Expense Ratios That Can Boost Your Long-Term Gains Basic Materials Stocks Investing How AI Implementation Could Help MongoDB Roar Back in 2025 How to Calculate Inflation Rate Hedge Funds Boost Oil Positions: Is a Major Rally on the Horizon? Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. ( NASDAQ:NVDA – Free Report ). Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter .By JOSH BOAK and ZEKE MILLER WASHINGTON (AP) — Working-class voters helped Republicans make steady election gains this year and expanded a coalition that increasingly includes rank-and-file union members, a political shift spotlighting one of President-elect Donald Trump’s latest Cabinet picks: a GOP congresswoman, who has drawn labor support, to be his labor secretary. Oregon Rep. Lori Chavez-DeRemer narrowly lost her bid for a second term this month, despite strong backing from union members, a key part of the Democratic base but gravitating in the Trump era toward a Republican Party traditionally allied with business interests. “Lori’s strong support from both the Business and Labor communities will ensure that the Labor Department can unite Americans of all backgrounds behind our Agenda for unprecedented National Success – Making America Richer, Wealthier, Stronger and more Prosperous than ever before!” Trump said in a statement announcing his choice Friday night. For decades, labor unions have sided with Democrats and been greeted largely with hostility by Republicans. But with Trump’s populist appeal, his working-class base saw a decent share of union rank-and-file voting for Republicans this year, even as major unions, including the AFL-CIO and the United Auto Workers , endorsed Democrat Kamala Harris in the White House race. Trump sat down with the International Brotherhood of Teamsters union leadership and members this year, and when he emerged from that meeting, he boasted that a significant chunk of union voters were backing him. Of a possible Teamsters endorsement, he said, “Stranger things have happened.” The Teamsters ultimately declined to endorse either Trump, the former president, or Harris, the vice president, though leader Sean O’Brien had a prominent speaking slot at the Republican National Convention. Kara Deniz, a Teamsters spokesperson, told the Associated Press that O’Brien met with more than a dozen House Republicans this past week to lobby on behalf of Chavez-DeRemer. “Chavez-DeRemer would be an excellent choice for labor secretary and has his backing,” Deniz said. The work of the Labor Department affects workers’ wages, health and safety, ability to unionize, and employers’ rights to fire employers, among other responsibilities. On Election Day, Trump deepened his support among voters without a college degree after running just slightly ahead of Democrat Joe Biden with noncollege voters in 2020. Trump made modest gains, earning a clear majority of this group, while only about 4 in 10 supported Harris, according to AP VoteCast, a sweeping survey of more than 120,000 voters nationwide. Roughly 18% of voters in this year’s election were from union households, with Harris winning a majority of the group. But Trump’s performance among union members kept him competitive and helped him win key states such as Pennsylvania, Michigan and Wisconsin. Chavez-DeRemer was one of few House Republicans to endorse the “Protecting the Right to Organize” or PRO Act, which would allow more workers to conduct organizing campaigns and add penalties for companies that violate workers’ rights. The measure would weaken “right-to-work” laws that allow employees in more than half the states to avoid participating in or paying dues to unions that represent workers at their places of employment. Trump’s first term saw firmly pro-business policies from his appointees across government, including those on the National Labor Relations Board. Trump, a real estate developer and businessman before winning the presidency, generally has backed policies that would make it harder for workers to unionize. During his recent campaign, Trump criticized union bosses, and at one point suggested that UAW members should not pay their dues. His first administration did expand overtime eligibility rules, but not nearly as much as Democrats wanted, and a Trump-appointed judge has since struck down the Biden administration’s more generous overtime rules. He has stacked his incoming administration with officials who worked on the Heritage Foundation’s “Project 2025” blueprint, which includes a sharp swing away from Biden’s pro-union policies. “Chavez-DeRemer’s record suggests she understands the value of policies that strengthen workers’ rights and economic security,” said Rebecca Dixon, president and CEO of National Employment Law Project, which is backed my many of the country’s major labor unions. “But the Trump administration’s agenda is fundamentally at odds with these principles, threatening to roll back workplace protections, undermine collective bargaining, and prioritize corporate profits over the needs of working people. This is where her true commitment to workers will be tested.” Other union leaders also issued praise, but also sounded a note of caution. “Educators and working families across the nation will be watching ... as she moves through the confirmation process,” the president of the National Education Association, Becky Pringle, said in a statement, “and hope to hear a pledge from her to continue to stand up for workers and students as her record suggests, not blind loyalty to the Project 2025 agenda.” AFL-CIO President Liz Shuler welcomed the choice while taking care to note Trump’s history of opposing polices that support unions. “It remains to be seen what she will be permitted to do as secretary of labor in an administration with a dramatically anti-worker agenda,” Shuler said.