Month: June 2018

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Trading Ideas

Ex-Defense Official ‘Alarmed’ About Google Retreat From AI Plan

June 26, 2018 admin Comments Off on Ex-Defense Official ‘Alarmed’ About Google Retreat From AI Plan

A former top U.S. Defense Department official said Tuesday he was “alarmed” by a recent decision by Alphabet Inc.’s Google to withdraw from work on a department initiative applying artificial intelligence tools to analyzing drone footage. More than 4,000 Google employees signed a petition calling for the cancellation of the Project Maven contract, citing Google’s history of avoiding military work and worries about autonomous weapons. “They say, look this data could potentially, down the line, at some point, cause harm to human life,” said Work, who served under President Barack Obama, at a Washington event on tech in …read more […]

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General Electric surges after announcing another spinoff as it leaves the Dow (GE)

June 26, 2018 admin Comments Off on General Electric surges after announcing another spinoff as it leaves the Dow (GE)

The moves come as new CEO John Flannery approaches his anniversary at the company’s helm, where he has set out sweeping cost-cutting and debt-reduction goals. General Electric has found a way to tell investors some good news as it leaves one of the most famous stock indexes in the world. Shares of the once-sprawling industrial behemoth surged as much as 7% Tuesday after it said it would sell off its majority stake in oil services company Baker Hughes over the next two to three years. …read more […]

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Business News

U.S. June auto sales seen up 2.5 percent: J.D. Power and LMC

June 26, 2018 admin Comments Off on U.S. June auto sales seen up 2.5 percent: J.D. Power and LMC

DETROIT (Reuters) – U.S. auto sales in June likely rose 2.5 percent from the same month in 2017 as consumers continued to prefer expensive pickup trucks, SUVs and crossovers over passenger cars although discounts on new vehicles remain high, industry consultants J.D. Power and LMC Automotive said on Tuesday.

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Trading Ideas

Lennar profit beats on strong housing demand, shares rise

June 26, 2018 admin Comments Off on Lennar profit beats on strong housing demand, shares rise

Lennar Corp on Tuesday reported a better-than-expected quarterly profit as housing demand got a boost from a strengthening economy and job growth. The U.S. homebuilder’s shares rose 9 percent in premarket trading. Shares of rivals D.R. Horton Inc and PulteGroup Inc were also up 3 percent to 4 percent. …read more […]

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GE narrows focus again, sheds health care and Baker Hughes

June 26, 2018 admin Comments Off on GE narrows focus again, sheds health care and Baker Hughes

General Electric shed more of its major assets, announcing plans to cast away its health care business and sell its interests in the oil-services company, Baker Hughes. The company’s latest round of winnowing arrived Tuesday, the first time since 1907 that General Electric Co. will not be a member of the exclusive Dow Jones industrial average at the opening bell. The company says it’s reducing its debt by $25 billion and removing additional risk as it reimagines itself as something very different from the multinational conglomerate it was before the Great Recession. …read more […]