Reported 28 days ago
Nippon Steel Corp. is making a final effort to gain support for its $14.1 billion acquisition of United States Steel Corp., a deal met with opposition from President Biden, Vice President Harris, and former President Trump. While major union leadership opposes the acquisition, some local union members and stakeholders favor the deal due to Nippon Steel's commitment to invest significantly in U.S. facilities. The Committee on Foreign Investment in the United States is reviewing the deal, which has become a point of contention in the political landscape, particularly amidst the upcoming presidential election.
Source: YAHOO
Reported 28 days ago
Midea Group Co., a leading Chinese appliance manufacturer, is set to make its significant debut in Hong Kong, aiming to raise up to $3.5 billion. This listing is the largest in over three years and could rejuvenate the struggling IPO market, which has seen significant declines amid China’s economic challenges. Midea’s favorable earnings and global expansion plans have generated considerable interest from investors, with order books reportedly oversubscribed. This IPO could signal a turnaround for the Hong Kong market as it grapples with a years-long slump in public offerings.
Source: YAHOO
Reported 28 days ago
Norfolk Southern has terminated CEO Alan Shaw after he engaged in an inappropriate consensual relationship with the company's chief legal officer, who was also dismissed. This comes after a tumultuous tenure that included a major train derailment in Ohio and investigations into his ethical conduct. Following Shaw's departure, Chief Financial Officer Mark George has been promoted to CEO as the company aims to improve its operations and financial performance.
Source: YAHOO
Reported 28 days ago
Norfolk Southern dismissed CEO Alan Shaw amid an internal investigation into ethics violations related to an inappropriate relationship with a subordinate. The company's CFO, Mark George, has been promoted to replace Shaw, who had led the railroad through significant challenges, including a costly derailment in 2023. The company stated Shaw's departure was unrelated to its financial performance and confirmed the termination of the chief legal officer, who was involved in the relationship with Shaw.
Source: YAHOO
Reported 28 days ago
An expert discusses the significant increase in US energy demand and its implications during a debate between presidential candidates Kamala Harris and Donald Trump. Rob Thummel emphasizes the US as the leading energy producer and exporter, advocating for a diverse energy approach that fosters economic growth. Thummel highlights the importance of low-cost, low-carbon energy sources in driving both domestic advancements and international economic development.
Source: YAHOO
Reported 28 days ago
In a recent episode of Yahoo Finance's Playbook, experts discussed the expected surge in mergers and acquisitions within the banking sector, particularly following recent weaknesses in stocks like JPMorgan and Ally Financial. Portfolio manager Anton Schutz downplayed fears regarding JPMorgan's net interest income guidance, predicting strong performance. As interest rates are expected to drop, the cost of funds for banks may improve, setting the stage for consolidation among mid-cap and regional banks. Key investment opportunities were identified, including First Horizon and Ameris Bancorp.
Source: YAHOO
Reported 28 days ago
In a recent interview, Joan Solotar from Blackstone highlights the significant potential of private investments, stating that many financial advisors are increasingly incorporating these assets into client portfolios. With 90% of commercial real estate being privately held, she emphasizes that investors are missing out on considerable opportunities by focusing on public markets. Private investments can offer better yields and lower volatility, serving as valuable diversifiers in a portfolio, especially as the Federal Reserve begins to cut interest rates.
Source: YAHOO
Reported 28 days ago
Mark Smucker, the CEO of The J.M. Smucker Company, discusses his role in steering the $13 billion family-owned business founded in 1897. Since taking over in 2016, he has expanded the company through strategic acquisitions, including brands like Jif and Folgers, and has recently acquired Hostess for $5.6 billion. In an interview with Yahoo Finance, Smucker shares insights on managing the pressures of leading both a significant American company and a family legacy.
Source: YAHOO
Reported 28 days ago
In light of the August Consumer Price Index (CPI) showing price stabilization, Vice President Kamala Harris and former President Donald Trump engaged in a debate regarding economic conditions. Yahoo Finance's Julie Hyman compares the total CPI with food-at-home prices, highlighting that inflation may still be significantly impacting food costs. For deeper insights and market updates, viewers can check the full episode of 'Asking for a Trend'.
Source: YAHOO
Reported 28 days ago
During a recent presidential debate, Vice President Kamala Harris and former President Donald Trump discussed various issues, but notably left out the US deficit. E.J. Dionne from Brookings Institution pointed out that both parties moved towards higher deficits during the pandemic to avert an economic crisis, suggesting that currently, the deficit is not a priority for either party as they focus on which can reduce it less in the future.
Source: YAHOO
Reported 28 days ago
In a discussion on Yahoo Finance, strategist Jason Draho expressed a bullish outlook on Nvidia and the overall tech sector despite ongoing macroeconomic uncertainties. He pointed out Nvidia's strong quarterly results and anticipated growth in artificial intelligence spending, suggesting that the company's dominant market position and earnings power are favorable in the current environment. Draho emphasized that owning such companies is strategically better than taking on high cyclical risk during a predicted soft landing in the economy.
Source: YAHOO
Reported 28 days ago
Okta's CEO Todd McKinnon stated that companies are being cautious with their software spending due to macroeconomic uncertainties. He mentioned that businesses are reevaluating their technology investments to ensure a real return on investment, which is causing longer decision-making processes. Despite Okta's strong revenue growth and profitability, the company faces challenges in acquiring new business, prompting a focus on product innovation, especially around AI, to drive future growth.
Source: YAHOO
Reported 28 days ago
U.S. stocks ended higher as Nvidia surged over 8% after positive remarks from CEO Jensen Huang at a conference, reviving investor interest in AI. B. Riley Wealth strategist Art Hogan noted the volatility in the market, emphasizing that recent CPI data triggered an overreaction. He believes the semiconductor sector, previously down 23%, is ripe for recovery as investor sentiment shifts back towards technology, especially in September's conference season.
Source: YAHOO
Reported 28 days ago
In a recent interview, Okta CEO Todd McKinnon emphasized the critical role of identity in cybersecurity, noting that 85% of security breaches involve identity. He acknowledged that while companies are being cautious with spending, there is a growing need for investment in modern identity solutions. McKinnon highlighted the transformative potential of AI in enhancing security measures and product offerings but also warned of new risks, such as deep fakes. Looking towards 2025, he expressed confidence in Okta's innovative product pipeline aimed at helping businesses improve their cybersecurity strategies.
Source: YAHOO
Reported 28 days ago
Rob Thummel, a senior portfolio manager at Tortoise, shares his insights on energy investments, emphasizing the strong performance and potential of companies like Williams Companies, Oneok, and Targa Resources, which he advises as solid choices with growing dividend yields. With Hurricane Francine approaching the Gulf Coast, Thummel reassures investors about the resilience of energy infrastructure, noting that though some refineries may temporarily shut down, the sector has effectively adapted to such weather challenges.
Source: YAHOO
Reported 28 days ago
Adobe will announce its fiscal Q3 earnings tomorrow, alongside Kroger, RH, and Signet Jewelers. On September 12, the August Producer Price Index (PPI) will also be released, along with initial jobless claims and mortgage rates, providing valuable insights into the economic landscape.
Source: YAHOO
Reported 28 days ago
The butterfly spread strategy in options trading offers investors significant flexibility, particularly in volatile markets. BayCrest Managing Director, David Boole, highlights that this strategy allows traders to gain broad exposure for a smaller premium. He elaborates on specific butterfly trades related to the iShares 20+ Year Treasury Bond ETF (TLT) and Nvidia (NVDA), encouraging viewers to watch the full episode for deeper insights.
Source: YAHOO
Reported 28 days ago
Campbell Soup Company, led by CEO Mark Clouse, is pursuing growth following its $2.7 billion acquisition of Sovos Brands, which owns Rao's sauces. Clouse noted that Rao's is experiencing broad appeal, driving sales beyond just high-income earners. Although Campbell's stock has seen a 10% increase this year, it still lags behind major competitors like the S&P 500. The company aims to diversify its portfolio, potentially expanding into new cuisines, while maintaining a core focus on soup.
Source: YAHOO
Reported 28 days ago
IBM revealed it will incur a pre-tax charge of approximately $2.7 billion in Q3 2024 due to transferring nearly $6 billion in pension obligations to Prudential Financial. This deal will shift the responsibility for pension benefits for about 32,000 participants to Prudential starting next year. The one-time charge is non-cash and will not affect IBM's adjusted operating profit or free cash flow for the year.
Source: YAHOO
Reported 28 days ago
Apple has announced significant health features for the Apple Watch and AirPods Pro 2, including sleep apnea detection and a hearing aid function, as part of its ongoing commitment to health tracking. Although these features require regulatory approval and are not yet available to consumers, they highlight Apple's strategy to maintain user engagement and address critical health issues faced by millions worldwide. As the company continues to expand its health capabilities, it positions itself as a major player in the healthcare market.
Source: YAHOO
Reported 28 days ago
Source: INVESTORS
Reported 28 days ago
Lucid Motors has recently unveiled its new full-size Gravity electric SUV, featuring a starting price of $80,000. The vehicle includes access to Tesla's supercharger network and was showcased during Lucid's Technology & Manufacturing Day event.
Source: YAHOO
Reported 28 days ago
The inspector general of the Federal Reserve has reported that Atlanta Fed president Raphael Bostic violated trading rules, although his trades were not found to be based on confidential Federal Open Market Committee (FOMC) information. Nonetheless, it was noted that he created an appearance of acting on such confidential information.
Source: YAHOO
Reported 28 days ago
AST SpaceMobile Inc., a small telecom competitor to SpaceX, has seen its stock surge 1,300% from $2 to $28 in just six months and is set to launch its first five satellites into orbit on a SpaceX rocket. Despite skepticism from some investors regarding its business model, AST's partnerships with major telecom companies and positive analyst ratings suggest potential for further growth as the company progresses towards providing global broadband connectivity through satellites.
Source: YAHOO
Reported 28 days ago
In a notable trading session, the technology sector significantly outperformed others, with the Nasdaq Composite rising over 2.1% and the S&P 500 gaining 1.07%. This surge was attributed to Nvidia CEO Jensen Huang's comments on strong semiconductor demand, alongside market reactions to August's Consumer Price Index and insights regarding the Federal Reserve's potential interest rate plans.
Source: YAHOO