Mon, Jul 1, 2024 3:30 PM
Nvidia Led the Market Higher in the First Half of 2024
A Flip by Riya Sharma
Forward Air's shares surged 13.3% in June after reports emerged that activist investor Irenic Capital Management acquired a 5% stake, pushing for change or a potential sale. The company's stock is down 70% YTD, hitting a 15-year low, but Irenic believes it could be acquired at a substantial premium. With new management and activist pressure, the stock may rise, but investors need to be patient.
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Rivian's shares surged 7% to $14.89 after the electric vehicle maker reported better-than-expected second-quarter production and delivery figures, with 9,612 vehicles produced and 13,790 delivered. The company affirmed its production goal of 57,000 vehicles for the full fiscal year, slightly above analysts' expectations. The positive news follows a partnership with Volkswagen.
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Amazon CEO Andy Jassy's tennis background taught him valuable lessons about meritocracy and hard work. Jassy led the development of Amazon Web Services (AWS), which posted $25 billion in quarterly revenue, beating Wall Street estimates. AWS is expected to drive Amazon's growth, with the company planning to spend over $100 billion on data centers over the next decade.
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