Reported 22 days ago
Despite substantial investments and initiatives to establish a competitive rare earths supply chain, US allies are struggling to break China's dominant control over the market, which includes about 70% of global output and over 90% of refining. Efforts like the construction of a new plant in Texas by Lynas Rare Earths are underway, but ongoing price declines and funding challenges hinder progress and raise doubts about the viability of these initiatives.
Source: YAHOO
Reported 22 days ago
ExxonMobil is working to restart operations at its Hoover offshore platform following a shutdown due to Tropical Storm Francine. The energy giant is grappling with declining crude oil prices linked to a slowdown in industrial demand, especially from China. Analysts have adjusted stock price targets in light of these trends, with Morgan Stanley lowering its target to $142 and maintaining an overweight rating, while Mizuho increased its target to $130. Despite these adjustments, ExxonMobil reports a rise in earnings, indicating resilience amid an evolving energy landscape.
Source: YAHOO
Reported 22 days ago
Broadcom has seen significant growth over the past year, fueled by AI advancements and a major acquisition of VMware, which has transformed its revenue model. While current predictions indicate continued growth and a favorable consensus from analysts, the stock's high price-to-earnings ratio suggests it may be wise for investors to wait for a price correction before buying. Overall, Broadcom remains an attractive long-term investment opportunity.
Source: YAHOO
Reported 22 days ago
Amazon's CEO Andy Jassy has announced a return-to-office mandate and a push to decrease management layers, acknowledging ongoing concerns about the company's corporate culture. As remote work has become prevalent, many longstanding employees worry about losing the essence of Amazon's leadership principles after the exit of several key executives. With this controversial decision, Jassy aims to revitalize Amazon's culture while facing potential backlash from employees who feel their trust has been compromised.
Source: YAHOO
Reported 22 days ago
In anticipation of the upcoming Federal Reserve meeting, discussions revolve around whether the Fed will implement a rate cut of 25 or 50 basis points. While some analysts predict a modest reduction, citing economic stability, former New York Fed President Bill Dudley advocates for a more significant 50 basis point cut, arguing that current economic conditions warrant a shift towards neutral monetary policy. The expectation is that these decisions will reflect in future economic projections and align with market forecasts.
Source: YAHOO
Reported 22 days ago
Intel and Amazon Web Services have entered a significant multi-billion dollar partnership to co-develop custom chip designs, marking a crucial win for Intel's foundry segment. Creative Strategies CEO Ben Bajarin highlights this collaboration as key for Intel's growth and its plans to possibly split into two distinct companies, emphasizing the importance of an autonomous foundry entity to attract more customers and ensure adequate wafer allocation.
Source: YAHOO
Reported 22 days ago
Starbucks North America CEO Michael Conway has announced his retirement as Brian Niccol takes over the role during a pivotal moment for the company. Conway will stay on as an adviser until November. Niccol aims to revitalize the brand after reports indicated a decline in same-store sales, promising to refocus on customer experience and explore global growth opportunities.
Source: YAHOO
Reported 22 days ago
As the Federal Reserve prepares to cut interest rates, the U.S. economy's health will be pivotal in determining market behaviors. Historically, stock performance post-cuts varies greatly between recessionary and non-recessionary periods. While equities might thrive in a stable economy, fears of a recession could dampen returns. Bonds have generally benefited in past rate-cutting cycles, but their future performance may hinge on the economic landscape. Additionally, the dollar's value is influenced by cuts in tandem with global central banks and the overall state of the U.S. economy.
Source: YAHOO
Reported 22 days ago
Michael Conway, the CEO of Starbucks North America, has announced his retirement after just five months in the position. This transition comes as Starbucks embarks on a turnaround strategy under newly appointed CEO Brian Niccol, who aims to improve operations and re-establish the coffeehouse culture. Conway, who has been with Starbucks for nearly 11 years, will continue to advise the company until the end of 2024, with Sarah Trilling stepping in to report directly to Niccol.
Source: YAHOO
Reported 22 days ago
Microsoft's board has greenlit a new $60 billion share buyback initiative while announcing a quarterly dividend increase of 10%. The company plans to enhance its AI infrastructure spending, despite noting a slowdown in growth in its Azure cloud division. Microsoft continues to come under pressure from investors to realize returns on its extensive AI investments, with the annual shareholders meeting scheduled for December 10.
Source: YAHOO
Reported 22 days ago
On Yahoo Finance's Market Domination, analyst Ruben Roy highlighted investor uncertainties regarding the payoff timeline for Big Tech's AI investments and the sustainability of increased capital expenditures in the chip sector. He noted Nvidia's strong demand for GPUs amid volatility, as its stock has significantly risen in 2024.
Source: YAHOO
Reported 22 days ago
In a discussion on Yahoo Finance, MoffettNathanson analyst Robert Fishman addresses the evolving landscape of the streaming industry amidst ongoing disruptions in traditional cable bundles. He highlights significant deals, including Disney's recent agreement with DirecTV and Warner Bros. discovery's renewal with Charter, emphasizing that while streaming has been profitable for companies like Netflix, traditional media struggles to achieve similar success.
Source: YAHOO
Reported 22 days ago
Source: YAHOO
Reported 22 days ago
Last week, investors expressed unprecedented bearish sentiment on crude oil, exacerbating a prolonged selloff that has driven prices to multi-year lows. Short positions on Brent crude now surpass long positions for the first time, with concerns regarding weak demand in leading consuming nations, particularly influenced by economic turmoil in China. Consequently, Brent futures dropped below $70 a barrel, marking significant losses from earlier this year, raising speculation about potential volatility in the market as positions may soon reverse.
Source: YAHOO
Reported 22 days ago
Wedbush analysts have upgraded Zillow Group shares from Neutral to Outperform, citing favorable trends in the housing market, particularly the recent drop in mortgage rates to their lowest since February 2023. The analysts suggest that lower mortgage rates could serve as a positive catalyst for Zillow's stock performance in the upcoming months, supported by the company's strong software and services initiatives. Following the upgrade, Zillow shares rose after gaining 12% the previous week.
Source: YAHOO
Reported 22 days ago
Microsoft has announced a $60 billion stock buyback, matching its largest repurchase authorization to date, while also raising its quarterly dividend by 10% to 83 cents per share from 75 cents. This buyback replaces a previous $60 billion program and has no expiration date, reflecting the company's strong cash position and growth driven by artificial intelligence advancements. Microsoft's shares saw a slight increase after the announcement.
Source: YAHOO
Reported 22 days ago
Two individuals, Sam Bhambhani and Maxim Teslenko, have been charged with illegal smuggling and conspiracy to evade U.S. export controls by selling sensitive equipment to the Russian nuclear sector. The U.S. Attorney's office stated that the defendants allegedly conspired to export laser welding machines to a plant linked to Rosatom, risking national security. If convicted, they could face significant prison time and hefty fines.
Source: YAHOO
Reported 22 days ago
Former President Donald Trump will announce a new cryptocurrency exchange called World Liberty Financial, managed by his sons, during a livestream on X Spaces on Monday night. Additionally, fresh US retail sales data will be released on Tuesday, with expectations of a slight decline of 0.2% for August. New homebuilder confidence data is also anticipated, with economists predicting a small increase after a series of declines.
Source: YAHOO
Reported 22 days ago
Germany's ruling coalition faces a new budget dispute as the finance ministry argues that nearly 10 billion euros allocated for Intel's chip-making subsidies should be redirected to balance the budget, while the economy ministry advocates for careful use of those funds. The tension arises amid Intel's decision to pause construction at its German facilities, complicating efforts to address a 12 billion euro budget gap for 2025.
Source: YAHOO
Reported 22 days ago
Intel Corporation announced that it is set to receive up to $3 billion in U.S. government funding to produce chips for military purposes, aiming to enhance national security. The funding is part of a broader effort to reduce reliance on overseas suppliers, with Intel shares rising 6.4% following the announcement. This initiative is distinct from an additional $8.5 billion grant related to the 2022 Chips and Science Act, which supports Intel's commercial operations across the U.S.
Source: YAHOO
Reported 22 days ago
Canadian miner First Quantum Minerals has introduced a voluntary retirement scheme for workers at the Cobre Panama mine amid uncertainties following a government ruling on its operational status. Workers can choose between the retirement plan effective January 2025 or reduced hours, with decisions expected by the end of September. The mine, a key producer of copper, has been closed since November due to a Supreme Court ruling and environmental protests.
Source: YAHOO
Reported 22 days ago
Janney Montgomery Scott's Guy LeBas discusses how the Federal Reserve's recent interest rate cut could affect the bond market. He emphasizes that the magnitude of this cut is important, suggesting that a modest cut could lead to further rate reductions in the future. LeBas is optimistic about economic growth, predicting multiple future cuts and a steepening yield curve, which may indicate a healthy market outlook.
Source: YAHOO
Reported 22 days ago
On Monday, the stock market showed mixed performance with the tech-heavy Nasdaq Composite dropping approximately 0.5%, while the Dow Jones Industrial Average clinched a record high of 41,622.08, buoyed by a 6% surge in Intel shares. Apple faced significant pressure, with its stock falling around 3% due to disappointing early demand for the iPhone 16. All eyes are on the Federal Reserve as it prepares for its first interest rate cut in four years, leading to increased market speculation regarding the size of the cut.
Source: YAHOO
Reported 22 days ago
OpenAI has announced the formation of an independent safety committee to oversee its artificial intelligence development processes. This committee, established following its recommendations, aims to improve the company's security practices and explore the creation of an AI industryInformation Sharing and Analysis Center (ISAC) to share threat intelligence. Chaired by Zico Kolter from Carnegie Mellon University, the committee will also enhance transparency regarding AI capabilities and risks.
Source: YAHOO
Reported 22 days ago
Microsoft has launched the next phase of its Copilot AI, named Wave 2, integrated into the Microsoft 365 software suite. This new roll-out introduces enhanced AI capabilities aimed at improving the user experience, as discussed by Yahoo Finance's tech editor Dan Howley.
Source: YAHOO