General News

Investing.com - Monster Beverage Corp (NASDAQ: MNST) dipped 2.7% on Wednesday after Roth analysts lowered their price target despite the successful completion of the company's Dutch tender offer.

The company's recently concluded Dutch tender offer, which amounted to $3 billion, was completed at a final price of $53 per share. This was at the lower end of the initially anticipated range of $53-$60 per share. The buyback was financed with a mix of $2.25 billion in cash... (continue reading...)

Investing.com - According to a research note from BTIG on Wednesday, the S&P 500 reaction to the latest Consumer Price Index (CPI) data suggests a poor near-term risk-reward scenario, despite an impressive index move following the CPI release.

The SPDR® S&P 500 (NYSE: SPY) recorded an RSI above 67 and opened with a gap up of more than 0.80% on the day of the CPI release. This event is rather rare, having occurred only 12 times since 1993, with the most recent instance... (continue reading...)

Investing.com -- Broadcom upgraded its annual revenue guidance after reporting Wednesday fiscal second-quarter results that topped expectations, driven by a record AI revenue, and the chipmaker announced a ten-for-one stock split.

Broadcom Inc (NASDAQ: AVGO) surged 8% in afterhours trading following the report.

Broadcom announced adjusted earnings per share of $10.96 on revenue of $12.49B. Analysts polled by Investing.com anticipated EPS of $10.85 on revenue of... (continue reading...)

(Reuters) -Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 19% in extended trading.

The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17.

The company is planning the stock split to meet minimum share price requirements to continue listing on the New York Stock Exchange, Virgin... (continue reading...)

By Arsheeya Bajwa

(Reuters) -Broadcom raised its annual forecast for revenue from chips that help in artificial intelligence work by 10% on Wednesday, and announced a stock split to take advantage of a rally in its shares this year.

Shares of the Palo Alto, California-based chipmaker surged 12% in extended trading.

The company expects $11 billion in revenue from AI-linked chips in 2024, up from its previous forecast of $10... (continue reading...)