Reported 27 days ago
Wholesale inflation has decreased last month, suggesting that the inflationary pressures in the economy are beginning to moderate.
Source: YAHOO
Reported 27 days ago
Ted Cannis, the CEO of Ford Pro, will retire at the end of the month after over 35 years at Ford. He has led the commercial vehicle unit since its inception in 2021, significantly increasing profitability. Cannis's retirement coincides with Ford facing challenges in its electric vehicle sector and ongoing pressure from shareholders for improved financial performance. The company is currently searching for Cannis's successor while his contributions, especially to the development of electric vehicles, are recognized.
Source: YAHOO
Reported 27 days ago
The European Central Bank (ECB) has lowered interest rates to 3.5% for the second time in 2024, as it adjusts its economic growth forecasts for the eurozone. ECB President Christine Lagarde noted ongoing headwinds to economic recovery, driven by lower demand for exports and domestic consumption challenges. The bank now projects growth rates of 0.8% for 2024, slightly down from previous estimates, amid recent signs of cooling inflation. Analysts hope this rate cut will stimulate the economy, but further reductions depend on evolving economic conditions.
Source: YAHOO
Reported 27 days ago
As U.S. Bancorp prepares for its first Investor Day in five years, there are rising expectations for insights into turning around its underperforming stock, which has only gained 3.4% this year. Analysts view the event as a chance for new executives to outline future strategies and potential leadership changes, particularly regarding President Gunjan Kedia, seen as a candidate for CEO. The bank recently announced an increase in dividends and a significant buyback program, setting a hopeful tone for investors.
Source: YAHOO
Reported 27 days ago
The Irish Data Protection Commission has initiated an inquiry to determine if Google adhered to EU privacy laws while developing its AI model, particularly focusing on compliance with the General Data Protection Regulation. The investigation will ascertain whether Google performed the necessary data protection impact assessments concerning personal data from EU residents used in its Pathways Language Model 2 (PaLM 2). This comes amid growing scrutiny of Big Tech companies regarding data handling and illegal content online.
Source: YAHOO
Reported 27 days ago
Mastercard has announced its acquisition of Recorded Future, a threat intelligence firm, from Insight Partners for $2.65 billion. This deal, expected to close by Q1 2025, aims to strengthen Mastercard's cybersecurity capabilities, especially amid rising cyber threats. The collaboration with Recorded Future, which utilizes AI for threat detection, has already improved the identification of compromised cards. This move aligns with Mastercard's strategy to expand its value-added services in cybersecurity.
Source: YAHOO
Reported 27 days ago
Micron Technology's stock price has been significantly downgraded following a 'double downgrade' from analysts, with concerns regarding its ongoing performance amidst a challenging market. Despite announcing positive earnings and an optimistic outlook for AI-driven memory chips, Micron shares have fallen over 40% since June due to fears of oversupply and high capital expenditures. Analysts predict continued underperformance compared to peers in the AI sector, leading to sharp reductions in stock price targets.
Source: YAHOO
Reported 27 days ago
Mark Cuban, the billionaire entrepreneur and co-owner of the Dallas Mavericks, recently reflected on passing up an investment opportunity in TopGolf, a successful sports entertainment company, because he dislikes golf. Despite missing this multimillion-dollar deal, Cuban highlights the importance of learning from failures and continuing to pursue new ventures, sharing that his best investment has been in himself.
Source: YAHOO
Reported 27 days ago
Analysts believe that iPhone 16 sales could benefit from generous trade-in promotions offered by leading carriers like Verizon and AT&T, making the new models more affordable. Compared to last year's iPhone 15 launch, trade-in deals are more attractive, and analysts expect even more aggressive offers in international markets, particularly in competition with Huawei. While trade-ins may not be the primary reason for upgrades, they significantly enhance affordability for consumers.
Source: YAHOO
Reported 27 days ago
Source: INVESTORS
Reported 27 days ago
Apple's stock experienced minimal movement following the announcement of the iPhone 16, as investors noted a lack of major surprises and concerns about the delayed rollout of Apple Intelligence software. According to analysts, while initial reactions showed a decline of about 0.9%, the historical data suggests that Apple's stock typically performs better a month or two after iPhone launches. The potential impact of AI on driving upgrades remains debated, with predictions of a sell-through rate for iPhones hovering between 225 to 260 million units, influenced by both new software features and hardware modifications.
Source: YAHOO
Reported 27 days ago
Palantir Technologies, previously criticized as an 'AI imposter' and labeled merely a government contractor, has turned the tide with its innovative Artificial Intelligence Platform, witnessing significant demand from the private sector. This shift has led to its inclusion in the S&P 500, marking a major milestone for the company as it seeks to diversify its revenue streams and capitalize on the growth of AI across various industries.
Source: YAHOO
Reported 27 days ago
General Mills Inc. has decided to sell its North American yogurt business, including the well-known Yoplait brand, for $2.1 billion in cash to French dairy companies Groupe Lactalis and Sodiaal. The transaction results from increasing competition in the US yogurt market and aims to allow General Mills to focus on more profitable segments such as premium pet food and organic snacks. The deal is expected to close in 2025.
Source: YAHOO
Reported 27 days ago
The $100 billion club includes 15 individuals whose combined wealth surpasses that of Amazon and Google's parent company, Alphabet, totaling approximately $2.2 trillion. Members such as Elon Musk, Jeff Bezos, and Mark Zuckerberg have collectively increased their fortunes by around $280 billion this year. The latest addition to this elite group is Walmart heir Jim Walton, following a significant rise in net worth.
Source: YAHOO
Reported 27 days ago
Moderna Inc. plans to reduce its research and development budget by approximately 20% over the next three years following disappointing vaccine sales, including the discontinuation of five programs. The company aims to save $1.1 billion by 2027 as it delays its break-even target from 2026 to 2028. Moderna's revenue forecast has disappointed analysts, leading to a significant drop in its stock price.
Source: YAHOO
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
With the Federal Reserve's upcoming meeting, investors are monitoring the latest Producer Price Index and jobless claims. Moderna's stock has plummeted due to the company's decision to cut R&D spending and halt some programs. Other trending tickers include Ast SpaceMobile, Nvidia, and Arm Holdings.
Source: YAHOO
Reported 27 days ago
Realty Income, a renowned real estate investment trust (REIT), has announced its 108th consecutive quarterly dividend increase, further solidifying its reputation for dependable passive income. With a current dividend yield surpassing 5%, the REIT boasts a diversified portfolio of over 15,450 properties, sustaining its long-standing history of dividend growth due to stable rental agreements and financial resilience. The company aims for continued growth in adjusted funds from operations at a rate of 4% to 5% annually, highlighting its robust market position and commitment to investor returns.
Source: YAHOO
Reported 27 days ago
According to a report from Realtor.com, potential homebuyers may find the first week of October to be the ideal time to purchase a home, potentially saving around $14,000 compared to peak summer prices. Yahoo Finance reporter Dani Romero discusses these findings and their implications for the housing market.
Source: YAHOO
Reported 27 days ago
As the Federal Reserve prepares for its anticipated interest rate cut, Wells Fargo's Scott Wren advises investors to shift strategies by taking profits from bonds and reallocating to equities, particularly favoring the S&P 500. Wren suggests that while small caps might benefit, large caps are still preferable, with energy and communication sectors offering attractive opportunities. He emphasizes the importance of capitalizing on lower stock prices in light of expected market movements.
Source: YAHOO
Reported 27 days ago
S&P 500 closed at 5,554, and strategist Art Hogan from B. Riley Wealth predicts a year-end target of 5,700, citing strong earnings growth and a resilient economy. Hogan suggests that while technology has led the market, broader participation is expected as small caps benefit from upcoming interest rate cuts. He reassures investors that despite some economic slowdown, growth rates remain above trend, supporting future earnings.
Source: YAHOO
Reported 27 days ago
Couples with a combined income of $400,000 may utilize a backdoor Roth IRA strategy to circumvent contribution limits and access tax-free withdrawals in retirement, though this requires paying income taxes upfront on converted amounts. This financial maneuver can offer significant future tax benefits, but may also lead to higher tax expenses now, making it essential to weigh the pros and cons and consult with a financial advisor before proceeding.
Source: YAHOO
Reported 27 days ago
This article discusses whether having $750,000 in a Roth IRA alongside a monthly Social Security benefit of $1,800 is sufficient for a comfortable retirement at age 65. It emphasizes the importance of individual spending habits, ongoing investments, and creating a tailored financial plan, while highlighting the potential risks of relying solely on savings without effective investment strategies.
Source: YAHOO
Reported 27 days ago
A study from the Center for Retirement Research reveals that many empty-nester parents are falling short of their retirement savings goals after their children leave home, often working less and earning lower incomes. This decline in savings emphasizes the need for parents to prioritize retirement planning and seek guidance from financial advisors to stay on track and ensure financial security in their later years.
Source: YAHOO