The Motley Fool

Why You Might Want to Sell Those Energy Stocks Soon

Energy stocks are at their 52-week highs, while the market is bearish because of geopolitical tensions. Should you hold or sell these stocks? The post Why You Might Want to Sell Those Energy Stocks Soon appeared first on The Motley Fool Canada.

Reuters

Nvidia shares drop after report of canceled China orders

NEW YORK (Reuters) -Shares of Nvidia Corp dropped by about 5% to a near five-month low on Tuesday following a Wall Street Journal report that the artificial intelligence (AI) giant may be forced to cancel up to $5 billion worth of advanced chip orders to China in compliance with new U.S. government restrictions. Nvidia was notified last week that AI chip orders scheduled for delivery next year to major Chinese technology companies, including Alibaba Group, TikTok owner-ByteDance and Baidu, are subject to the latest export restrictions announced by the U.S. Commerce Department, the Wall Street Journal reported, citing people familiar with the matter. Nvidia's stock fell to as low as $392.30, down 4.7%, to the lowest level since mid-June.

The Motley Fool

3 Oversold Canadian Stocks for the Next 30 Years

Brookfield Corp. (TSX:BN) and two other TSX stocks to consider buying on the way down. The post 3 Oversold Canadian Stocks for the Next 30 Years appeared first on The Motley Fool Canada.

Reuters

AMD forecasts billion sales of AI chips, helping shares rebound

(Reuters) -Chip designer Advanced Micro Devices on Tuesday forecast $2 billion in sales in 2024 from a chip that aims to compete with Nvidia in the artificial intelligence (AI) market, helping shares recover after a quarterly outlook missed expectations. AMD forecast fourth-quarter revenue and gross margins below Wall Street estimates, hurt by a weak gaming market as well as a decline in demand from some industries for its programmable chips. Shares of the Santa Clara, California-based company fell as much as 4.6% in after-market trading but turned roughly flat after executives disclosed on a conference call the outlook for its chip to compete with Nvidia.

The Canadian Press

Canadian Tire buys back stake in financial services business from Scotiabank

TORONTO — Canadian Tire Corp. Ltd. has signed a deal to buy back the 20 per cent stake in Canadian Tire Financial Services that is owned by Scotiabank for $895 million. The move restores the retailer's full ownership over the business. Canadian Tire CEO Greg Hicks says the deal will give the company more control and flexibility when it comes to its Triangle Rewards loyalty program. It also says it will evaluate strategic alternatives for its financial services arm. The retailer says consideratio