Reported 19 days ago
Copper prices dropped as the dollar strengthened following Donald Trump's early lead in the US elections, with a 1.9% decline to $9,553 per ton. The increase in the dollar, which rose by 1.6%, made metals more expensive for many buyers, contributing to losses across various metals, including zinc and aluminum. Despite recent gains in the market driven by positive economic indicators from China, the uncertainty surrounding the election results impacted commodity prices.
Source: YAHOO
Reported 19 days ago
Nintendo's President Shuntaro Furukawa reassured that the Switch's sales momentum remains strong, even as the company prepares to introduce its successor. Although Nintendo reported a 60% drop in profits due to declining Switch sales, Furukawa emphasized that all current games will be compatible with the next console. Nintendo is diversifying its ventures, investing in hardware, software, and entertainment projects, including upcoming movies based on Mario and Zelda, scheduled theme park openings, and the expansion of official stores. Over 100 million people globally enjoy the Switch, and Nintendo's stock has seen recent gains.
Source: YAHOO
Reported 19 days ago
Blackstone's worker housing division, Avery Lodge, has attracted the interest of several investment firms, including Bain Capital, Apollo Global Management, and Brookfield Asset Management. The portfolio consists of four worker compounds with around 1,700 units, potentially valued at about $750 million. Ongoing negotiations may result in a sale, although Blackstone is also considering retaining the assets.
Source: YAHOO
Reported 19 days ago
Bank Indonesia is focusing on stabilizing the rupiah in light of Donald Trump's likely victory in the US presidential election, which could increase pressure on the Indonesian currency. While the central bank still sees potential for interest rate cuts, immediate efforts will prioritize maintaining exchange rate stability amidst global volatility and geopolitical tensions. Governor Perry Warjiyo emphasized that caution is crucial in responding to these dynamics, as they can significantly impact emerging markets like Indonesia.
Source: YAHOO
Reported 19 days ago
The dollar surged to its highest level in a year after Donald Trump's victory in the U.S. presidential election, with analysts anticipating that his policies will maintain elevated interest rates and increase inflation. Bond yields rose sharply, leading to a broad strengthening of the dollar against major currencies, while the euro, yen, and other currencies weakened. Market volatility linked to the election highlighted the significant market moves as investors adjusted their positions in anticipation of continued dollar strength.
Source: YAHOO
Reported 19 days ago
Analysts have revised their stock forecasts for Broadcom due to its collaboration with OpenAI in developing AI chips, forecasting significant growth in AI-chip sales. Broadcom's CEO Hock Tan anticipates AI revenue will reach $12 billion in fiscal 2024. However, analysts noted challenges, including potential seasonal headwinds and a transition in Google’s TPU technology, which may impact earnings expectations for fiscal 2025. Despite the challenges, Broadcom is positioned well to benefit from increased demand for AI-related semiconductor solutions.
Source: YAHOO
Reported 19 days ago
Super Micro Computer's stock has plummeted by 70% in the last six months amid a crisis driven by accounting issues and the resignation of auditor Ernst & Young. Recent allegations of accounting manipulation have raised concerns, leading to a U.S. Justice Department investigation. Despite strong operational performance, with a significant revenue increase, analysts warn that potential delisting from Nasdaq and regulatory scrutiny could harm the stock's recovery prospects.
Source: YAHOO
Reported 19 days ago
Trump Media & Technology Group's stock (DJT) surged 25% in after-hours trading as Donald Trump won the presidential election, closing around 6% higher for the day. With this victory, Trump becomes the first U.S. president to serve two non-consecutive terms. Despite nearing $4.3 billion in personal stake from DJT's market cap of $7.2 billion, the company's fundamentals remain in question, reporting a net loss of $19.25 million in Q3.
Source: YAHOO
Reported 19 days ago
US stock futures are on the rise as investors review the early results of the Presidential election. With polls closed in around half of the states, key battleground results are still pending, leading to anticipated short-term volatility. Stocks ended Tuesday's session with gains as the nation votes between Vice President Kamala Harris and Former President Donald Trump.
Source: YAHOO
Reported 19 days ago
Analysts have adjusted Qualcomm's stock price target in light of forthcoming earnings and ongoing legal disputes with Arm Holdings, which has recently canceled a license agreement with Qualcomm. The ongoing legal battle stems from allegations of breach of contract and trademark infringement. Despite the current uncertainty, analysts suggest the potential for a settlement exists, and Qualcomm's position in the smartphone market remains under scrutiny due to a decline in U.S. smartphone shipments.
Source: YAHOO
Reported 19 days ago
Citi has compiled a list of seven key 'election trades' to monitor in relation to the 2024 U.S. Presidential Election. Notable highlights include expectations that solar energy stocks will rise if Harris wins, while traditional fossil fuels may not benefit as much from a Trump victory due to potential supply increases. Other factors considered are deregulation's effect on financials, the impact of tariffs on physical goods versus services, and inflation rates under each candidate's administration, which could influence interest rates and housing markets significantly.
Source: YAHOO
Reported 19 days ago
Emerson Electric has proposed a $15.1 billion acquisition of the remaining shares of AspenTech, aiming to strengthen its focus on industrial automation. The offer includes $240 per share, valuing AspenTech at a premium, as Emerson seeks full ownership after previously merging its software units with AspenTech in 2021. The offer is contingent on a review by AspenTech's board, while Emerson is also exploring divesting its Safety & Productivity unit and plans significant stock buybacks.
Source: YAHOO
Reported 19 days ago
Trump Media & Technology Group, founded by former U.S. President Donald Trump, disclosed a net loss of $19.2 million in the third quarter, primarily driven by legal expenses and costs associated with its TV streaming technology acquisition. The report arrives amidst the competitive U.S. presidential election, where Trump is closely contesting against Vice President Kamala Harris, with the company's shares experiencing volatility as they reflect Trump's election prospects.
Source: YAHOO
Reported 19 days ago
In an update on the 'Trump trade' placed on October 30, the author shares experiences betting on Trump's company, which trades under the ticker DJT. The strategy involves a put option that allows the author to sell shares at a set price before the contract expires on November 15, 2024. Currently, the value of the put option has increased by 31%, indicating a higher likelihood of DJT shares declining. The author plans to hold onto the trade until after the election, aiming to learn and report back on the outcome.
Source: YAHOO
Reported 19 days ago
As the 2024 presidential election approaches, experts stress that crypto regulation should be a central focus for the next administration. Ben McMillan, chief investment officer at IDX Advisors, argues that the current regulatory framework has been inconsistent and that the country must prioritize comprehensive measures to foster innovation in the cryptocurrency sector, which is becoming increasingly influential.
Source: YAHOO
Reported 19 days ago
Super Micro Computer has faced a decline in stock prices after releasing preliminary earnings for its fiscal first quarter, with analysts noting significant uncertainty following the resignation of auditor Ernst & Young due to accounting issues. Matt Bryson from Wedbush Securities describes the situation as a 'whole lot of unknown,' emphasizing concerns over revenue performance and the ongoing search for a new auditor.
Source: YAHOO
Reported 19 days ago
US regulators denied Amazon's proposed deal to purchase power from Talen Energy for its cloud services, a decision perceived as a short-term challenge for Big Tech companies seeking to merge nuclear energy with AI data centers. Despite concerns about reliability, ratepayer impacts, and adherence to decarbonization policies, experts suggest the ruling may not pose long-term risks to the sector.
Source: YAHOO
Reported 19 days ago
As the 2024 election unfolds, Donald Trump has been declared the winner in North Carolina and Georgia, bringing Republicans back to control of the Senate. Meanwhile, Kamala Harris has won New Hampshire and continues to pursue paths to reach the crucial 270 electoral votes. The race remains tight, particularly in Pennsylvania, where every vote is crucial. Election officials emphasize a close tally and delayed results, reflecting a highly competitive environment.
Source: YAHOO
Reported 20 days ago
Despite the uncertainties surrounding the U.S. presidential election, stocks closed positively, with large-cap equities continuing to thrive. SLC Management's Dec Mullarkey highlights that while defensive sectors have performed well, equities overall are looking at promising growth. The rate market, however, does face volatility due to election-related concerns.
Source: YAHOO
Reported 20 days ago
Elon Musk's support for Donald Trump's campaign raises questions about the potential benefits or drawbacks for him and Tesla if Trump wins or if Kamala Harris becomes president. Expert Doug Clinton discusses how Musk's political involvement might affect Tesla's future, noting that Harris could offer tax incentives for electric vehicles. Regardless of the election outcome, Musk is expected to realign his agenda to maintain connections with the Democratic Party's principles, considering his contributions to sustainable energy.
Source: YAHOO
Reported 20 days ago
Gold prices are expected to maintain their upward trajectory regardless of the outcome of the U.S. elections, driven by rising central bank purchases, declining interest rates, and persistent geopolitical tensions. Analysts predict that gold could reach up to $3,000 per troy ounce by the end of 2025, despite potential long-term pressures from a Trump victory leading to inflationary policies. However, these policies might also increase gold's appeal as a safe haven.
Source: YAHOO
Reported 20 days ago
Trump Media & Technology Group (DJT) released its third quarter earnings, revealing a net loss of $19.25 million for the period ending September 30, which is an improvement from a $26.03 million loss reported last year. The company's revenue fell slightly to $1.01 million, marking a 23% decrease over the past nine months. These results came amidst the volatility of Election Day.
Source: YAHOO
Reported 20 days ago
Super Micro Computer's shares fell over 15% in extended trading after the company announced it could not predict when it will file its delayed 2024 annual report, raising delisting concerns. Furthermore, its preliminary revenue figures for the first fiscal quarter missed analysts' expectations. The struggles follow the resignation of EY as auditor and ongoing speculation about the company's accounting practices.
Source: YAHOO
Reported 20 days ago
US stocks closed higher as investors await the election results, with experts suggesting that a Harris presidency and a divided government could lead to market stability. Jay Hatfield, CEO of Infrastructure Capital Advisors, notes that unless there’s a sweeping victory for one party, the market may see minimal impacts, with attention focused on the Senate race. He believes a Republican-controlled Senate could create favorable conditions for the market moving forward.
Source: YAHOO
Reported 20 days ago
As election day approaches in the U.S., voters are evaluating their options between Vice President Kamala Harris and former President Donald Trump, with a focus on economic issues. Yahoo Finance's Rick Newman analyzes which candidate voters trust more to tackle the country's major economic challenges.
Source: YAHOO