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Market Watch: Stock Futures Edge Lower Ahead of Inflation Report

Stock futures edged lower on Wednesday as investors turned their attention to an impending inflation report slated for later this week. Futures linked to the...

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SoftBank stocks surge over 8% on strong Arm performance

SoftBank, a Japanese investment holding company, experienced a notable surge of over 8% in its shares during morning trading. This spike followed the release of impressive financial results by chipmaker Arm. Arm witnessed a remarkable increase in its shares, soaring by as much as 41%. This surge came in the wake of the chip designer surpassing analysts' expectations with its reported revenue and earnings. Additionally, Arm provided a bullish outlook for the upcoming quarter. SoftBank, which had taken Arm public in September, still retains approximately 930 million shares, constituting roughly 90% of the chip designer’s outstanding stock. Following the earnings report, SoftBank's stake in Arm experienced a significant boost, rising by nearly $16 billion. This propelled its value from close...

Apple to Dissolve the Plans of Manufacturing Electric Car

According to Bloomberg, Apple is set to disband its team focused on electric cars, known as the Special Projects Group. This development marks the conclusion of Apple’s covert endeavor to create a car to compete with Tesla. Although the initiative engaged thousands of personnel, it never quite aligned with Apple's primary business of electronics and online services, prompting speculation about the company's next move regarding vehicle manufacturing. Initial reports of Apple's interest in crafting a car emerged in 2014 after it recruited automotive engineers and other industry talents. While specifics about Apple’s intentions remained scarce, the company operated a scheme featuring self-driving vehicles equipped with sensors and safety drivers navigating the San Francisco Bay Area. Over the...