Reported 20 days ago
Source: INVESTORS
Reported 20 days ago
Super Micro Computer (SMCI) shares dropped more than 18% after the company's earnings and sales projections for the upcoming quarter fell short of Wall Street expectations. The company also failed to file its 10-K annual report, adding to investor uncertainty. Recent developments included the resignation of its auditor Ernst & Young, citing concerns over financial statements, following allegations of accounting issues by Hindenburg Research. The stock has now declined over 60% in the past six months due to these ongoing challenges.
Source: YAHOO
Reported 20 days ago
DraftKings and FanDuel are set to release their Q3 earnings but face difficulties stemming from a disappointing NFL season, where bettors have won more than expected, affecting the operators' revenues. Analyst Jordan Bender highlights concerns over the financial implications for these companies and the potential impact on their performance in the fourth quarter and 2025. Despite the current challenges, he remains positive about the long-term prospects of the sports betting sector.
Source: YAHOO
Reported 20 days ago
As the 2024 presidential election between Vice President Kamala Harris and former President Donald Trump approaches, American voters are eagerly anticipating polling results. In addition, the Federal Reserve's November meeting will begin this week, culminating with a press conference by Fed Chair Jerome Powell on interest rate decisions. Major companies reporting earnings soon include Novo Nordisk, Toyota, Qualcomm, Arm Holdings, CVS Health, and Take-Two Interactive.
Source: YAHOO
Reported 20 days ago
Former President Donald Trump's return to the White House has triggered a significant market rally, with stocks, bitcoin, and the US dollar all rising sharply. Tesla shares are among the biggest gainers, boosted by CEO Elon Musk's support for Trump's reelection. Yahoo Finance provides a comprehensive analysis of the market's reaction and key insights from financial experts.
Source: YAHOO
Reported 20 days ago
Source: BARRONS
Reported 20 days ago
Apple is facing its first fine from the European Union under the Digital Markets Act due to antitrust issues associated with its App Store, as reported by Bloomberg.
Source: YAHOO
Reported 20 days ago
The U.S. Federal Trade Commission has filed a lawsuit against financial technology company Dave Inc., alleging that its advertising of cash advances up to $500 misleads users, with many not receiving the full amount or any advance at all. The FTC claims that while the app targets users in financial distress, it fails to disclose significant fees, including a $25 instant cash fee and a monthly $1 charge, along with misleading messaging about the use of collected tips.
Source: YAHOO
Reported 20 days ago
Super Micro Computer's stock plummeted over 18% after the company released disappointing earnings forecasts, projecting adjusted earnings per share lower than analysts' expectations and net sales weaker than anticipated. Compounding concerns, Super Micro has yet to file its 10-K annual report, a delay initially announced in August, citing uncertainty over when it will be able to submit the filing. The resignation of accounting firm Ernst & Young as its auditor and ongoing investigations into its financial practices have added to investor apprehension, contributing to a 60% decline in the stock over the past six months.
Source: YAHOO
Reported 20 days ago
Nvidia's market capitalization has risen to $3.43 trillion, eclipsing Apple to claim the title of the world's most valuable company, as discussed by experts Julie Hyman and Josh Lipton.
Source: YAHOO
Reported 20 days ago
Apple is expected to be penalized by the European Union under its Digital Markets Act, marking the first company to face such sanctions as regulators assert that the iPhone maker violated antitrust rules. The upcoming fine adds to Apple's growing legal troubles and follows a previous 1.84 billion euro penalty for hindering competition in the music streaming sector. The EU's regulations, effective this year, aim to promote fairness for smaller firms by imposing requirements on big tech companies like Apple.
Source: YAHOO
Reported 20 days ago
Lumen Technologies has raised its annual free cash flow forecast, anticipating between $1.2 billion and $1.4 billion, bolstered by over $8 billion in AI-related deals with major tech companies like Google, Microsoft, and Amazon. However, the company continues to face challenges from its legacy business, which has contributed to a nearly 12% decline in quarterly revenue to $3.22 billion. Despite the quarterly losses and concerns about its high debt, Lumen's shares have surged this year amidst growing demand for data connectivity solutions.
Source: YAHOO
Reported 20 days ago
US stocks experienced significant gains on Election Day, with the Nasdaq Composite leading the rise at 1.4%, while the S&P 500 and Dow Jones gained 1.2% and 1%, respectively. All eyes were on the closely contested presidential race between Kamala Harris and Donald Trump, with investors preparing for potential market volatility due to uncertainty over the election outcome. Despite the potential for short-term fluctuations, historical trends indicate that markets generally stabilize and rally once the election results are known.
Source: YAHOO
Reported 20 days ago
Super Micro Computer announced uncertainty regarding the timing of its annual report following the unexpected resignation of its auditor, leading to a 15.5% drop in its stock price. The server maker also reported preliminary sales expectations significantly below analysts' estimates, citing reliance on Nvidia's latest chips for upcoming production. The company is under scrutiny for governance and financial reporting issues, with potential delisting from Nasdaq if deadlines are not met.
Source: YAHOO
Reported 20 days ago
Coupang Inc. saw its shares drop nearly 9% in after-hours trading following a report indicating that its retail net sales of $6.14 billion fell short of Wall Street's expectations of $6.24 billion. Despite showing strong growth in other areas, including a 27% increase in net revenue, the disappointing retail sales and losses from its recent acquisition of luxury online retailer Farfetch overshadowed the company's performance.
Source: YAHOO
Reported 20 days ago
Super Micro Computer Inc. saw its shares drop sharply after issuing a weak sales forecast for the upcoming quarter, projected revenues falling significantly short of analysts' expectations. The company also faces delisting risks following delays in filing its financial statements and the resignation of its auditor, Ernst & Young. Despite previously benefiting from an AI boom, concerns over accounting practices and governance have led to a 77% decline in its stock since March, resulting in a loss of approximately $50 billion in market value.
Source: YAHOO
Reported 20 days ago
As equity markets adapt to November's volatility, experts suggest that stocks may continue to rise, supported by historical seasonal trends. Oppenheimer's Ari Wald highlights that a recent 1% drop is typical in a pre-election year and anticipates a stronger market as uncertainty dissipates. He notes increasing broadness in market movements and advises on defensive opportunities in certain sectors, particularly in small-cap stocks, which are showing potential in the ongoing uptrend.
Source: YAHOO
Reported 20 days ago
Celanese Corporation has become the worst-performing stock on the S&P 500 after reporting third-quarter results that fell short of estimates, contrasting with DuPont de Nemours, which saw a rise in stock value due to better-than-expected earnings. Market analysts are evaluating the performance of tech materials stocks following these developments.
Source: YAHOO
Reported 20 days ago
On November 5, 2024, U.S. stock markets experienced a robust rally as voters participated in the presidential election and encouraging economic data emerged. The S&P 500 increased by 1.2%, nearing its previous record, while the Dow Jones climbed 1% and the Nasdaq rose 1.4%. Positive sentiment surrounding artificial intelligence and stronger-than-expected growth in U.S. services bolstered market confidence.
Source: YAHOO
Reported 20 days ago
On November 5, 2024, U.S. stock markets rallied, led by a significant boost from tech stocks, with the Nasdaq gaining 1.4%, spurred by Palantir's record earnings that surged its stock by 23.5%. As traders anticipate the outcome of the U.S. presidential election, the S&P 500 and Dow Jones also saw notable increases. Amid the election fervor, focus will soon shift to the Federal Reserve's policy meeting, where a rate cut is widely expected.
Source: YAHOO
Reported 20 days ago
Cummins Inc. shares surged over 8% after the company reported third-quarter results that surpassed revenue and adjusted earnings estimates, achieving $8.46 billion in revenue.
Source: YAHOO
Reported 20 days ago
Wall Street strategists expect that the outcome of the US presidential election will trigger a stock market rally by the end of 2024, following a strong 21% gain in the S&P 500 Index this year. Analysts believe that once a winner is declared, stocks are likely to perform well; recent trends suggest that market weakness prior to elections can lead to stronger performance afterward. As the market navigates uncertainties before the election results, experts are optimistic about continued investment growth, supported by a resilient economy and favorable conditions in the stock market.
Source: YAHOO
Reported 20 days ago
On Election Day, US Treasury yields slipped as traders braced for market volatility ahead of the Federal Reserve's interest-rate decision. The 10-year bond yield was steady at 4.29%, despite a spike earlier, with heightened bond volatility reaching a year-high. Polls indicated a tight presidential race between Donald Trump and Kamala Harris, leaving investors uncertain about market movements related to the election outcome. The Fed’s policy meeting also adds to the tension, with expectations of potential rate cuts amid economic data showing growth in the service sector.
Source: YAHOO
Reported 20 days ago
Shares of Trump Media, Donald Trump's social media venture, soared as early U.S. election results fueled optimism for a Republican victory. Trading on Robinhood saw stocks rise to $48.74, a significant volatility spike reflecting market sentiment connected to Trump's electoral prospects. The stock, influenced more by speculative interest rather than solid financial fundamentals, raised questions among analysts regarding its long-term viability, especially if Trump fails to attract new users or advertisers for his platform, Truth Social.
Source: YAHOO
Reported 20 days ago
Amerant Bank in South Florida has transformed its identity and brand recognition by forming partnerships with local sports teams, including Major League Baseball's Tampa Rays and Miami Marlins, and the NBA's Miami Heat. Since CEO Jerry Plush's arrival in early 2021, the bank has embraced a strategy of aligning with strong sports brands to raise awareness, resulting in significant asset growth and an increased market share in Miami. Plush believes these partnerships not only improve visibility but also demonstrate a commitment to the community.
Source: YAHOO