In today’s top stories, clean energy company Helion is to provide Microsoft with fusion power from 2028, it was announced on Wednesday. Elsewhere, controversial presenter Tucker Carlson has decided to launch his new show on Twitter, causing shares in Rumble to fall 6%. Japanese automaker Nissan reported a jaw-dropping 653% increase in its net profit for the January–March quarter, but major Apple supplier Hon Hai Precision Industry Co., a.k.a. Foxconn, has missed its profit target for the third straight quarter, while Vision Fund, the tech investment unit of SoftBank, lost money again for the fifth consecutive quarter.
Rumble falls 6% on Tucker Carlson’s move to Twitter
Controversial former Fox News host Tucker Carlson’s decision to launch his new show on Twitter caused shares in Rumble [RUM] to tumble 6% on Wednesday. The streaming site, backed by Palantir [PLTR] founder Peter Thiel, has gained popularity among conservatives for its commitment to free speech. But in his announcement Carlson said “there are not that many platforms left that allow free speech. The last big one remaining in the world… is Twitter”.
Nissan’s net profit accelerates
Japanese automaker Nissan [7201.T] reported a massive 653% increase in its net profit for the January–March quarter, up from ¥14.2bn to ¥106.9bn. Operating profit is expected to hit ¥520bn in the next year, despite global sales just missing targets. “The prolonged shortage of semiconductors and tight supply of parts due to the shutdown in China had a sizable impact on production plans and vehicle supply” during the period, the company said in a statement.
Apple supplier revenue woe
Major Apple [AAPL] supplier Hon Hai Precision Industry Co. [2317.TW], known outside Taiwan as Foxconn [2354.TW], missed its profit target for the third straight quarter on Thursday. Revenue of NT$12.8bn for the January–March quarter was well below the NT$29.8bn analysts had forecast. Strong iPhone assembly sales failed to offset a weak Android market, reported Bloomberg. Sales of Apple’s main suppliers in Taiwan dropped for the third consecutive month in April.
SoftBank’s Vision Fund sees more losses
Vision Fund, the tech investment unit of SoftBank [9984.T], lost money again for the fifth consecutive quarter in the January–March period, despite a tech stock resurgence. The company booked an investment loss of ¥4.3trn for the full fiscal year ending 31 March, wider than ¥2.6trn loss reported for the previous fiscal year. Overall losses narrowed, partly thanks to the company selling down its Alibaba [BABA] stake.
Microsoft targets power from fusion energy
Clean energy company Helion is to provide Microsoft [MSFT] with fusion power from 2028, it was announced Wednesday. The move by the big tech giant could be viewed as a gamble, but Andrew Holland, the CEO of the Fusion Industry Association, told CNBC that, while Helion’s goal of 2028 is aggressive, they have a strong plan for how to get there. “This is the first time that I know of that a company has a power purchase agreement signed,” Holland added.
Disclaimer Past performance is not a reliable indicator of future results.
CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.
*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.