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Real-time News
On September 10, Armin Papage, CEO of German defense giant Rheinmetall, said he was confident in achieving the companys ambitious profit and revenue targets for 2030, thanks to the companys streamlining and expansion of ammunition production. When asked whether it could achieve a 20% profit margin on projected sales of 40 billion to 50 billion euros in 2030, Papage said: "I am fully convinced that we can do it. I think we are in good shape," adding that this was due to heavy investments in production digitalization and cost reduction. Rheinmetall has benefited from the efforts of EU governments to invest trillions of euros in rearmament. Papage expressed doubts about whether Russia and Ukraine could reach a ceasefire, and said that security would be Europes top priority for the next 10 to 15 years.GameStop (GME.N) rose 3.5% after the companys second-quarter revenue exceeded expectations.NIO (NIO.N) fell more than 10%. The company plans to issue approximately 182 million Class A shares.The Dow Jones Industrial Average opened down 73.03 points, or 0.16%, to 45,638.31 on Wednesday, September 10; the S&P 500 opened up 24.92 points, or 0.38%, to 6,537.58 on Wednesday, September 10; and the Nasdaq Composite opened up 90.11 points, or 0.41%, to 21,969.60 on Wednesday, September 10.On September 10th, the U.S. stock market opened with the Dow Jones Industrial Average down 0.12%, the S&P 500 up 0.51%, and the Nasdaq up 0.47%. Oracle (ORCL.N) opened up approximately 32%, setting a new all-time high and pushing its total market capitalization close to $900 billion. The company reportedly expects to receive $500 billion in cloud orders. AI chip stocks also saw gains, with AMD (AMD.O) up approximately 5%, Broadcom (AVGO.O) up 4.5%, and Nvidia (NVDA.O) up over 3%.
