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UK chip designer Arm's disappointing first quarter performance leads to share decline. Portugal's corruption scandal impacts the government's economic plans. US President Joe Biden receives conflicting news for his re-election campaign. Rift among US Democrats over Gaza war. Analysis of Biden's stance on Israel and Democratic Party's alignment.
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- Arm reported a $110 million loss in its first quarter as a public company, and its revenue forecast for the current quarter fell short of expectations, resulting in an 8% drop in share price.
- Portugal's Prime Minister resigned amidst a corruption scandal surrounding lithium mines, casting doubts on the future of crucial mining projects and raising questions about corruption in public officials.
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Arm reports first-ever quarterly loss since going public
The UK chip designer Arm reported a $110 million loss in its first quarter since going public. Moreover, its revenue forecast for the current quarter fell short of analyst expectations. As a result, Arm's share price dropped as much as 8% in after-hours trading.
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