Page 46 - Benzinga Pro News Today

U.S. stock markets surged during Thursday’s midday trading session in New York, with major averages all showing gains.

The U.S., though not having export controls on Saudi, can interrupt Nvidia chip flow to Riyadh, he added.

Stellantis NV (NYSE:STLA) is shifting its engineering recruitment toward lower-cost countries such as Morocco, India, and Brazil, responding to the challenges posed by cheaper Chinese electric vehicles and diminished demand. The company, known for producing Jeep SUVs, Opel Corsas, and Chrysler minivans, now targets hiring where the annual cost per engineer is roughly 50,000 euros (roughly $53,400) or less, a fraction of the cost in places like Paris and Detroit. The company’s CEO, Carlos ...

Thomson Reuters Corp reported Q1 2024 revenue growth of 8%, beating analyst consensus, with adjusted EPS of $1.11. The stock gained, driven by 9% organic revenue growth. CEO is confident in their AI product roadmap. Outlook is $7.24-$7.27 billion. Stock up 17% in last 12 months.

OLB Group shares are trading higher by 41% during Thursday's session. The company announced its shareholders approved a 1-for-10 reverse split.

The conventional wisdom in real estate has long been that there is no money to be made in building affordable housing, but Andrew Schwartzberg, a partner in one affordable housing conglomerate, would beg to differ. Schwartzberg recently purchased a $38 million estate on the luxurious Malibu, California, coastline. The purchase is the fourth-largest transaction in California this year. Schwartzberg is a veteran of the affordable housing rental industry with an impressive resume. He is managing pa

XPeng delivered 9,393 EVs in April, representing a 33% increase year-over-year, up 4% over the prior month. The company highlighted 1,959 X9 vehicles in April, with cumulative deliveries nearing 10,000 units since its launch. Year-to-date, XPeng has delivered 31,214 EVs, a 23% increase year-over-year.

Rivian has received an $827 million incentive package from the State of Illinois Department of Commerce & Economic Opportunity, which will allow the company to expand operations at its plant in Normal, IL. The company said the funds from the incentive package will go towards expansion of the plant, improvements in public infrastructure and job training programs for Rivian's workforce.

Since March 2023, 625 commercial loans have been foreclosed on — a 117% increase over the previous year, according to real estate research and data analysis firm ATTOM. It's another data point illustrating how deep the commercial real estate sector's problems go. It's also alarming because the volume of commercial debt that can still go bad is massive. The implications for the economy are frightening to contemplate and each day, America's commercial real estate sector ...