November 8, 20240 Comments

BlackRock in talks to buy minority stake in Millennium, sources say By Reuters

(Reuters) – BlackRock (NYSE:) is in early-stage talks to take a minority stake in hedge fund Millennium Management, the Financial Times reported on Thursday, citing people familiar with the situation. The talks are at an early stage and may not lead to a deal, the report said, adding that any equity stake is likely to be small. If the deal were to materialize, it would mark the first time that

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November 7, 20240 Comments

Rivian sticks to gross profit target despite part supply disruption By Reuters

By Akash Sriram and Abhirup Roy (Reuters) -Rivian stuck to its forecast of achieving gross profit in the fourth quarter even as it reported its first drop in quarterly revenue hurt in part by shortage of a component. Shares of Rivian (NASDAQ:) rose nearly 2% as the Irvine, California-based company expects to “generate modest positive gross margin” in the current quarter helped largely by cost cuts, and higher revenue per

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November 7, 20240 Comments

Wall Street hits all-time highs, Fed decision on tap By Reuters

(Reuters) – Wall Street’s main stock indexes hit record highs in the run-up to an interest-rate decision from the Federal Reserve on Thursday, extending a sharp rally sparked by Donald Trump’s stunning comeback as U.S. president for a second time. The fell 11.0 points, or 0.03%, at the open to 43718.92. The rose 18.2 points, or 0.31%, at the open to 5947.21​, while the rose 101.0 points, or 0.53%, to

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