Shares of Meta Platforms (NASDAQ: META) were heading lower last month as a slew of concerns mounted for the social media giant. Among those were layoffs, overspending on AI and capital expenditures, and a lack of direction in artificial intelligence, as the company has struggled to develop a meaningful revenue stream beyond advertising. The stock also fell on a report that it would sell new shares...
Shares of Meta Platforms (NASDAQ: META) were heading lower last month as a slew of concerns mounted for the social media giant. Among those were layoffs, overspending on AI and capital expenditures, and a lack of direction in artificial intelligence, as the company has struggled to develop a meaningful revenue stream beyond advertising. The stock also fell on a report that it would sell new shares to fund its AI ambitions. By the end of the month, shares had given up 11%, according to data from S&P Global Market Intelligence . As you can see from the chart below, the stock fell steadily throughout the month. Continue reading
Earnings Call Insights: Penguin Solutions (PENG) Q3 FY2026 Management view "Penguin Solutions delivered an exceptional quarter with record results that reflect disciplined execution and strong customer traction for our AI factory platform strategy," said "Kash Shaikh (CEO, President & Director)," adding: "we are again raising our full year outlook for both net sales and EPS." Shaikh emphasized mix...
Earnings Call Insights: Penguin Solutions (PENG) Q3 FY2026 Management view "Penguin Solutions delivered an exceptional quarter with record results that reflect disciplined execution and strong customer traction for our AI factory platform strategy," said "Kash Shaikh (CEO, President & Director)," adding: "we are again raising our full year outlook for both net sales and EPS." Shaikh emphasized mix shift and backlog tied to AI: "In Q3, our AI-driven businesses represented 74% of total company net sales and grew 104% year-over-year," and said "AI-driven demand continued to outpace net sales growth, contributing to a growing backlog." On leadership change, Shaikh said, "Nate Olmstead will step down as Chief Financial Officer on July 8," and "Aaron Johnson, our Vice President of Finance and Accounting, will serve as Interim CFO effective July 9," adding, "We have also initiated a search for a permanent CFO." "Nate Olmstead (Senior VP & CFO)" framed the quarter as demand-led upside: "both net sales and profits were significantly higher than expected, driven primarily by accelerating AI driven demand for our memory products and continued adoption of AI infrastructure solutions." Outlook "Nate Olmstead (Senior VP & CFO)" raised FY2026 guidance: "we are raising our full company net sales and non-GAAP diluted EPS outlook for the year. which at the midpoint now calls for 22% net sales growth and $2.60 of non-GAAP diluted EPS, up from our previous outlook of 12% net sales growth and $2.15 of non-GAAP diluted EPS." Olmstead reiterated key modeling assumptions: "our full year outlook assumes that we will continue to diversify our customer sales mix and does not include any Advanced Computing AI hardware sales to hyperscale customers," and "We expect sales from [Penguin Edge] to essentially cease by the end of fiscal 2026." Segment ranges moved alongside the full-year raise. Olmstead said, "For Memory, we are increasing our full year outlook, and we now expect net sales to grow b...
Lawrence Bishnoi, who is in prison in India, is accused of orchestrating the assassination of Hardeep Singh Nijjar in 2023 US authorities have announced charges against the leader of an Indian criminal group in connection with the political assassination of a prominent Sikh activist in Canada – a high-profile killing that strained diplomatic relations between Canada and India at the time. Lawrence...
Lawrence Bishnoi, who is in prison in India, is accused of orchestrating the assassination of Hardeep Singh Nijjar in 2023 US authorities have announced charges against the leader of an Indian criminal group in connection with the political assassination of a prominent Sikh activist in Canada – a high-profile killing that strained diplomatic relations between Canada and India at the time. Lawrence Bishnoi – the imprisoned head of an Indian criminal gang - and his childhood friend Satinderjeet Singh, are accused of orchestrating the assassination of a well-known Sikh independence activist Hardeep Singh Nijjar, who was fatally shot outside a temple where he served as president in 2023. Bishnoi is in custody, but Singh has not been apprehended. Continue reading...
As soaring temperatures fuel demand for cooling in Europe, Thailand is pitching itself as a source of relief, promoting rainy-season holidays while exporting more air conditioners. With tourism and outbound shipments two of the Southeast Asian economy’s biggest drivers, Europe’s heatwaves are creating opportunities on both fronts. The Tourism Authority of Thailand has launched a campaign encouragi...
As soaring temperatures fuel demand for cooling in Europe, Thailand is pitching itself as a source of relief, promoting rainy-season holidays while exporting more air conditioners. With tourism and outbound shipments two of the Southeast Asian economy’s biggest drivers, Europe’s heatwaves are creating opportunities on both fronts. The Tourism Authority of Thailand has launched a campaign encouraging European travellers to swap scorching summer temperatures for the nation’s milder rainy season,...
Indonesia’s sovereign wealth fund Danantara has finalized the merger of four local firms to create the nation’s largest asset manager as it seeks to compete more effectively with financial institutions across the region. The asset management units of PT Bank Rakyat Indonesia, PT Bank Negara Indonesia, PT Bank Mandiri and PT Permodalan Nasional Madani have been rolled into one company under Mandiri...
Indonesia’s sovereign wealth fund Danantara has finalized the merger of four local firms to create the nation’s largest asset manager as it seeks to compete more effectively with financial institutions across the region. The asset management units of PT Bank Rakyat Indonesia, PT Bank Negara Indonesia, PT Bank Mandiri and PT Permodalan Nasional Madani have been rolled into one company under Mandiri Manajemen Investasi, according to a statement Tuesday from the State-Owned Enterprises Agency. Representatives from Danantara didn’t immediately respond to a request for comment Wednesday, Exchange filings from April show that Danantara would acquire the stakes of the four units for 2.7 trillion rupiah ($150 million). Bloomberg News first broke plans about the merger last October. As of early 2025, the units of the first three firms — BRI, BNI and Bank Mandiri — had combined assets under management of some $8 billion. The merger is part of an effort by Danantara to increase the productivity of Indonesia’s state-owned companies by consolidation and restructuring. Established in early 2025, the sovereign wealth fund has been funded partially with dividends from state-owned entities to power President Prabowo Subianto’s vision to grow and preserve the country’s wealth. It has said its assets total some $1 trillion, reflecting holdings across sectors from energy to banking. That amount would place Danantara among the world’s largest sovereign wealth funds.
Workers at BHP Group’s Port Hedland iron ore export terminal in Western Australia will stage an eight-hour strike on July 16, unions said, after failing to reach agreement with the company in more than six months of talks. The action will involve operators and maintenance workers at the world’s largest iron ore export port, who are represented by the Combined Ports Unions. Employees are seeking an...
Workers at BHP Group’s Port Hedland iron ore export terminal in Western Australia will stage an eight-hour strike on July 16, unions said, after failing to reach agreement with the company in more than six months of talks. The action will involve operators and maintenance workers at the world’s largest iron ore export port, who are represented by the Combined Ports Unions. Employees are seeking an agreement that recognizes specialist skills, difficult working conditions and significant personal costs, the unions said in a statement on Wednesday. A BHP spokesperson said the company’s “focus remains on keeping our people safe, maintaining productive operations and reaching a fair, competitive and reasonable agreement.” BHP settled a new enterprise agreement with around 1,800 workers at its mining operations in the region without industrial action, the spokesperson added. Read More: Pay Deal at BHP’s Giant Iron Ore Terminal Is Still Elusive
Broadcom Inc. (AVGO) just extended its chip supply agreement with Apple through 2031, according to a regulatory filing reported by Bloomberg. This partnership is not a new development. Apple and Broadcom have a long-standing supply relationship and previously made headlines back in 2023 when Apple ...
Broadcom Inc. (AVGO) just extended its chip supply agreement with Apple through 2031, according to a regulatory filing reported by Bloomberg. This partnership is not a new development. Apple and Broadcom have a long-standing supply relationship and previously made headlines back in 2023 when Apple ...