Author: Multibagger News

Amazon Launches AI-Powered Video Generator for Advertisers: What You Need to Know Amazon has officially launched an AI-powered video generator for advertisers, similar to Google’s offering. The new tool, called Video generator, can transform a single product image into a short video clip in just a few minutes. Although currently in beta for select U.S. advertisers, Amazon plans to further develop and refine the tool before a wider release. Amazon Ads VP Jay Richman stated that Video generator, along with a related capability called live image, leverages generative AI to inspire creativity and drive value for both advertisers and consumers.…

Goldman Sachs Maintains Buy Rating on Roivant Sciences After $1.2 Billion Deal Goldman Sachs has reiterated its Buy rating and $17.00 price target on Roivant Sciences (NASDAQ:) following a significant deal to sell its Dermavant subsidiary to OGN for an estimated $1.2 billion. The transaction will provide Roivant with approximately $500 million in the near term, including milestone payments and royalties on future sales of Vtama. The deal also includes sales milestones and tiered royalties for Roivant, with the firm focusing on its clinical pipeline, including IMVT-1402, brepocitinib, and mosliciguat. Roivant’s clinical development is active, with multiple late-stage studies expected…

Title: U.S. Stocks Surge as Fed Cuts Rates: Jobless Claims Beat Expectations Meta Description: Explore the impact of the Federal Reserve’s rate cut on the stock market, jobless claims, and crude oil prices. Get insights on potential investment opportunities and market trends. Investing.com–In a remarkable turn of events, U.S. stocks surged on Thursday following the Federal Reserve’s decision to kick off its easing cycle with a substantial half percentage point reduction. The Dow Jones Industrial Average rose by 535 points, the S&P 500 gained 88 points, and the Nasdaq climbed 395 points, reflecting investor optimism in the market. Jobless claims…

Title: High Tide Inc. (NASDAQ: HITI) Shines with Record-Breaking Q3 Revenue of $131.7 Million Amidst Market Challenges High Tide Inc. (NASDAQ: HITI) Q3 2024 Earnings Report: A Comprehensive Breakdown High Tide Inc. (NASDAQ: HITI), a leading force in the cannabis industry, has delivered an impressive Q3 2024 earnings report, showcasing remarkable resilience and strategic foresight. The company reported a record revenue of $131.7 million for the quarter ending July 31, 2024, reflecting a 6% increase from the previous quarter and a 1% year-over-year increase in same-store sales. This performance is particularly notable given the broader market’s 10% decline. Key Financial…

By Kopano Gumbi, Tannur Anders and Bhargav Acharya PRETORIA (Multibagger) – South Africa’s central bank made a historic move by cutting its main interest rate for the first time in over four years on Thursday. The South African Reserve Bank (SARB) reduced the repo rate by 25 basis points to 8.00%, aligning with economists’ predictions. This decision comes as South Africa’s headline consumer inflation remains below the target range midpoint of 4.5%, with a year-on-year rate of 4.4% in August. The rate cut follows the U.S. Federal Reserve’s recent rate reduction and positions South Africa as the latest emerging market…

Lionsgate Partners with Runway AI to Revolutionize Film Production Lionsgate, known for blockbuster series like The Hunger Games and John Wick, is teaming up with AI company Runway to innovate the future of content creation. This collaboration will allow Lionsgate to leverage AI technology for cutting-edge and cost-effective production opportunities. In a statement, Lionsgate Vice Chair Michael Burns expressed excitement about utilizing AI to push the boundaries of entertainment. However, the use of AI in film production has sparked controversy, with concerns about job loss and the potential for stale content. Despite criticism from some industry professionals and artists, others…

Lionsgate Partners with AI Company Runway for Cutting-Edge Content Creation Opportunities In a groundbreaking move, entertainment powerhouse Lionsgate has teamed up with AI company Runway to revolutionize film and TV production. This collaboration will allow a new AI model to be trained on Lionsgate’s extensive archive, paving the way for innovative and capital-efficient content creation opportunities. Lionsgate Vice Chair Michael Burns expressed excitement about the partnership, stating that Runway’s AI technology will help them develop cutting-edge content for future productions. While specific details about how the AI will be used have not been revealed, the potential for AI in film…

Xiao-I Corporation Renews Contract with Inner Mongolia Yili Industrial Group Co., Ltd., Adopts MaaS Model for AI-Driven Customer Service Platform In a strategic move, Xiao-I Corporation (NASDAQ:AIXI) has renewed its partnership with Inner Mongolia Yili Industrial Group Co., Ltd. (A Share:600887), a leading dairy company. The renewed contract signifies a shift as Yili adopts Xiao-I’s subscription-based Model as a Service (MaaS) for its AI-driven customer service platform. This transition aims to enhance operational efficiency and service delivery. Xiao-I’s MaaS model is part of its initiative to provide clients with flexibility and scalability in software and AI services. This shift is…

Axel Springer’s Strategic Split: CEO Doepfner and KKR Secure Media Empire’s Future By Klaus Lauer BERLIN (Multibagger) – In a landmark move set to reshape Germany’s media landscape, Axel Springer, the powerhouse behind iconic news titles like Bild and Politico, will be divided between CEO Mathias Doepfner and private equity giant KKR. This strategic split, confirmed on Thursday, ensures Doepfner’s continued dominance over the media assets while setting the stage for significant future growth. The Deal: A Breakdown Axel Springer’s lucrative classifieds segments will be spun off into separate entities, predominantly controlled by KKR and CPP Investments. This restructuring aims…

WASHINGTON (Multibagger) – As the U.S. current account deficit widens sharply in the second quarter, reaching its highest level in more than two years, investors are left wondering about the implications for their portfolios. The Commerce Department’s Bureau of Economic Analysis reported on Thursday that the current account deficit, which tracks the flow of goods, services, and investments in and out of the country, increased by $25.8 billion or 10.7% to $266.8 billion last quarter. This exceeded economists’ expectations, who had forecasted the deficit to be at $260.0 billion. At 3.7% of gross domestic product (GDP), the current account gap…