Reported 18 days ago
Franchise Group Inc. received temporary court approval to borrow up to $250 million from senior lenders to maintain operations while navigating bankruptcy. Bankruptcy Judge John Dorsey ruled in favor of the loan despite objections from two lower-ranking creditors, allowing the firm immediate access to $100 million. The company, which entered Chapter 11 with $2 billion in debt, aims to refinance older debt and sell itself as part of its restructuring plan.
Source: YAHOO
Reported 18 days ago
Mexican President Claudia Sheinbaum urged citizens to remain calm following Donald Trump's election victory, emphasizing Mexico's independence and potential for a positive US relationship. Despite initial market volatility, the peso improved slightly, and investors expressed optimism about continued economic cooperation while also considering potential challenges from Trump's proposed tariffs. Sheinbaum's recent meetings with key economic leaders highlighted Mexico's economic strength, and her administration aims to maintain high-level dialogue on migration and trade as the country navigates the new political landscape.
Source: YAHOO
Reported 18 days ago
Shares of major US banks, including Goldman Sachs and Citigroup, rose sharply following Donald Trump's election victory, as investors anticipate tax cuts and deregulation in the financial sector. Trump has outlined plans to significantly reduce corporate tax rates and eliminate more regulations than he introduces. This optimistic outlook has led to record highs for bank stocks, with analysts suggesting a shift towards a more supportive regulatory environment for banks and potential growth in deal-making activities.
Source: YAHOO
Reported 18 days ago
Marathon Oil reported higher than expected third-quarter profits, driven by increased production and strong oil demand, with overall production rising to 421,000 barrels of oil equivalent per day. The company anticipates benefiting from rising U.S. oil consumption and has revised its full-year production forecast upwards. Additionally, Marathon is awaiting the closure of a $22.5 billion acquisition deal with ConocoPhillips, currently under regulatory review.
Source: YAHOO
Reported 18 days ago
US stock markets reached record highs following Donald Trump's victory in the presidential election against Kamala Harris. The Dow Jones surged 3.5% to close at an all-time high, with the S&P 500 and Nasdaq also marking significant gains. Investors reacted positively to the implications of Trump's policies, particularly for the financial sector, while concerns arose for clean energy stocks due to Trump's historical stance against green policies. The financial sector saw notable rallies, as major banks benefitted from this perceived regulatory shift.
Source: YAHOO
Reported 18 days ago
Archer-Daniels-Midland Co. has appointed AT&T's top lawyer, David R. McAtee II, to its board of directors following the discovery of additional accounting errors. This move aims to restore investor confidence after a recent scandal. McAtee, who has significant experience in government regulation and strategic planning, will oversee governance committees as ADM restates its financial results for the past year and first half of 2024.
Source: YAHOO
Reported 18 days ago
In a recent analysis, Lee Carter from Maslansky + Partners discussed the primary reasons voters favored Trump during the US presidential election. Economic concerns, particularly regarding inflation and costs, were paramount for many voters, who felt dissatisfied with the current economic situation. Additionally, the issue of immigration resonated widely, beyond just border states. Carter noted that Kamala Harris's failure to present a distinct alternative to the Biden administration contributed to voter preference for Trump, despite acknowledging that his aggressive rhetoric can be polarizing yet has become part of his appeal.
Source: YAHOO
Reported 18 days ago
FICO reported better-than-expected fourth-quarter profits of $163.2 million, driven by strong demand for its credit-scoring products. Analysts predict an increase in loan demand as the U.S. Federal Reserve lowers borrowing costs, benefiting companies like FICO, which plays a crucial role in assessing customer creditworthiness. Despite rising delinquencies leading to stricter lending standards, FICO saw a 16% revenue increase year-over-year, reaching $453.8 million. The company anticipates 2025 revenue around $1.98 billion, aligning with industry expectations.
Source: YAHOO
Reported 18 days ago
Municipal bonds fell sharply following Donald Trump's election as US president, as concerns mounted over his policies potentially increasing the budget deficit and igniting inflation. Benchmark municipal yields spiked, reflecting anxiety among investors who expect Trump's administration to affect fiscal strategies and borrowing practices. Analysts suggest that the market's response could lead to reduced demand for municipal bonds, especially if tax cuts are enacted, impacting their tax-exempt status.
Source: YAHOO
Reported 18 days ago
In the wake of Donald Trump's overwhelming victory in the 2024 elections, there is a strong sentiment among many voters for a return to an idealized past that may never have existed. While Trump champions the 'Make America Great Again' agenda, he overlooks significant changes in the economy and the global landscape since the past eras he references. The manufacturing sector, once a cornerstone of American prosperity, has drastically diminished in its contribution to GDP and employment, shifting instead toward a service-based economy that requires higher skills and adaptability. Trump's promises to restore blue-collar jobs and protect traditional industries may appeal to nostalgia but fail to address the realities of a rapidly evolving economy.
Source: YAHOO
Reported 18 days ago
Lyft reported third quarter revenues of $1.52 billion, exceeding estimates, and provided an optimistic Q4 outlook with expected gross bookings between $4.28 billion and $4.35 billion, surpassing Wall Street's projection. The company's EBITDA guidance also exceeded expectations, leading to a significant stock increase in after-hours trading.
Source: YAHOO
Reported 18 days ago
Following Donald Trump's presidential win, prison stocks have seen a significant rise, with Geo Group (GEO) increasing by approximately 41% and CoreCivic (CXW) by nearly 29%. Analysts attribute this surge to the Trump administration's immigration policies, which have led to the outsourcing of operations to private prison companies, benefiting their stock performance.
Source: YAHOO
Reported 18 days ago
Cannabis stocks, including companies like Curaleaf and Trulieve, have seen a significant drop after Florida voters turned down a proposal to legalize recreational marijuana, sparking concern in the market.
Source: YAHOO
Reported 18 days ago
Wall Street is predicting that the Federal Reserve will reduce interest rates by 25 basis points in its upcoming meeting, as officials review October's labor data. The decision may be influenced by President-Elect Donald Trump's economic policy proposals following the recent election results.
Source: YAHOO
Reported 18 days ago
Arm Holdings exceeded earnings expectations for the second quarter with adjusted earnings of $0.30 per share and revenue of $844 million. However, their third quarter revenue outlook of $920 million to $970 million does not meet Wall Street's expectation of $950.9 million, despite earnings projections aligning with estimates.
Source: YAHOO
Reported 18 days ago
Qualcomm's stock surged over 10% after the company reported fiscal fourth quarter revenues of $10.24 billion and adjusted earnings of $2.69 per share, both surpassing estimates. However, its profit guidance for the first quarter fell short of Wall Street's expectations. In response to its strong performance, Qualcomm also announced a $15 billion share buyback program.
Source: YAHOO
Reported 18 days ago
As Donald Trump aims for a White House comeback, his proposal of 10% tariffs on all imports and 60% on Chinese imports could significantly impact discount retailers and footwear companies. Analysts warn that businesses like Dollar General and Five Below may need to raise prices due to these tariffs, leading to inflationary pressures and affecting consumer spending. While some retailers are diversifying their supply chains, the reliance on cheaper Chinese manufacturing remains a concern, as increased tariffs could reduce US consumers' purchasing power by up to $78 billion annually.
Source: YAHOO
Reported 18 days ago
Real estate stocks, including major players like Zillow and D.R. Horton, have experienced a decline following Donald Trump's victory in the presidential election. Additionally, home improvement retailers such as Home Depot and Lowe's are also seeing drops in their stock prices, highlighting the market's reaction to the election outcome.
Source: YAHOO
Reported 18 days ago
The day after the 2024 election, stock markets soared, hitting record highs as Donald Trump secured re-election. The Dow Jones Industrial Average rose over 3.5%, followed by the Nasdaq Composite and S&P 500 with significant gains. Analysts noted a positive market reaction and discussed implications for various sectors, including technology and finance.
Source: YAHOO
Reported 18 days ago
Warner Bros. Discovery (WBD) saw its stock rise nearly 12% after reporting strong streaming subscriber growth in Q3, yet struggled with a revenue decline of 3% to $9.62 billion, missing expectations. The company faced challenges in its studios and linear TV segments, particularly after losing key NBA rights, leading to significant impairment charges. Despite successful subscriber additions and a 49% jump in streaming ad revenue, WBD's net losses and ongoing pressure in traditional TV highlight the company's uphill battle in a changing media landscape.
Source: YAHOO
Reported 18 days ago
Stellantis has announced the layoff of approximately 1,100 workers at its Jeep Gladiator plant in Toledo, Ohio, as part of efforts to enhance efficiency and manage inventory. This decision follows recent changes in senior management aimed at boosting sales, amid significant stock decline this year. The layoffs have sparked backlash from the United Auto Workers union, with threats of a nationwide strike over perceived broken commitments regarding investments and job security. Affected employees will receive a year of supplemental unemployment benefits as stipulated in their contract.
Source: YAHOO
Reported 18 days ago
After Donald Trump's victory in the 2024 election, the U.S. stock market reached unprecedented highs, prompting questions about sustainability. Economist Bob Elliott believes that while expansionary fiscal policies could stimulate economic growth, they may also lead to potential overheating of the economy, prompting the Federal Reserve to tighten monetary policy more than anticipated.
Source: YAHOO
Reported 18 days ago
Tesla's stock surged nearly 15% following Donald Trump's victory in the recent presidential election, with investors optimistic about potential policy benefits for the company. Elon Musk, a prominent supporter of Trump, had previously invested over $132 million in campaign donations. Analysts suggest that while some of Trump's policies may complicate the electric vehicle market, Tesla's competitive edge could thrive in a landscape with reduced subsidies and increased tariffs on foreign competitors, potentially enhancing the company's market value significantly.
Source: YAHOO
Reported 18 days ago
Donald Trump's election win led to a significant rally in the stock market, benefiting various sectors including financial stocks and cryptocurrencies. The 'Trump trade' saw Trump Media & Technology Group stocks surge over 30%, Bitcoin reaching historical highs above $76,000, and major banks experiencing significant gains. Increased investor confidence in Trump's policies, perceived as favorable for lower regulations and taxes, helped drive this broad market uplift, along with a rise in oil prices and shifts in bond yields.
Source: YAHOO
Reported 18 days ago
As President-Elect Donald Trump embarks on a potential second term, several Big Tech executives have expressed their congratulations. The article explores the implications of his presidency on the tech sector, with a focus on antitrust concerns and the industry's relationship with China, as discussed by Yahoo Finance tech editor Dan Howley.
Source: YAHOO