Big news on Wall St

Nvidia, Marvell Technology and Workday have gone all in on AI and the flex has kept investors upbeat. Why AI? It seems when dealing with a tonne of data, AI does the heavy lifting so people can take innovation next level. Meanwhile, shoppers are feeling the pinch, so what’s happening in retail?

Take-Two Interactive shares surged to their highest yearly peak. Home Depot blames DIY dropoff for missed earnings. Is Walmart’s taking on Amazon? Who’s pillaging US$500 million from Target’s pockets. And has China’s economy rebounded? Here’s our glance back at a week of earnings.

Google announced their AI-first approach and a stack of new toys. What’s behind Petolon’s million dollar recall? Airbnb and Disney both reported earnings up, so what panicked investors? And could future banking crises be averted with new short-seller regulations? Here’s our snapshot of the week that was.

It had been all quiet on the IPO front in 2023 until Johnson & Johnson’s household division Kenvue hit the markets last week. But the journey ahead isn’t all clean and clear. Legal claims threaten to follow the household product consumer giant. Rumours are also swirling that some of China’s e-commerce heavyweights may want US IPOs. That’s assuming US legislators don’t block the way.

As Temu and Shein take their battles to court, more than 50 million global consumers have downloaded China’s newest discount products e-commerce app. And Temu may be hoping people shop like a billionaire for mum this Mother’s Day? So who’s behind the megasite and do we have another Wish on our hands?

Who’s FAANGING now? Big Tech may have prepared for an economic slowdown and volatility by slimming down staff, but earnings results were still full of small surprises. Seems slight growth in revenue won against growing global competition for eyeballs. But they’re still battening down the hatches ready to weather any storms ahead.

Whether we seek comfort at home or faraway lands, there’s an eager hand ready to help us through: credit card providers. And for newly globetrotting Gen Z bitten by the travel bug, when the bank of mum and dad doesn’t come to the party, it seems digital payment companies are ready to help.

Carmaker Tesla may have led the electric vehicle lineup for nearly two decades, but the teenage OG is now sharing the stage with shiny new wheels. It hasn’t stopped ARK Invest fueling high hopes for the company’s autonomous robotaxis to get the wheels spinning, but could they get gassed by other EV-makers?

It may have been an explosive and very short inaugural journey for the world’s most powerful rocket, but SpaceX’s inaugural Starship launch was deemed a success… until HQ pulled the pin. Back on terra firma, Aotearoa Earthlings are about to get a whole lot more connected. Beam us up, Musky!

Seems a small minority of folk in the US are stuck between a Kid Rock and a hard seltzer. The 90s rocker is all in a lather about who else has been drinking his favourite Bud Light. Now he’s making a song and dance about ditching it for Coors - the even more LGBTQ-friendly beer. Cheers!

Proving Kiwis can fly, New Zealanders have been lining up for tickets to leave the Land of the Long White Cloud. Are we some of the thousands subscribed to Duolingo adding our uniquely Kiwi accent to exotic mother tongues? And will our newest expats fall in love with cheap overseas flights, or pine for chups and dup?

Has Hasbro played a billion dollar hand? They’re printing trading cards like the Fed once printed money and people are buying up large to capture some of that sweet, sweet fantasy. But it seems not even their cosplay treasure chest hitting the big screen has so far battled deadly foes enough to rescue their share price.