Reported 4 days ago
Lockheed Martin announced that the U.S. Army has awarded it a contract valued at up to $4.94 billion for the production of Precision Strike Missiles (PrSM). This comes amid increased global demand for weaponry, as the Pentagon focuses on acquiring the next-generation long-range PrSM to replace the Army Tactical Missile (ATACM). Following this announcement, Lockheed's stock rose by more than 1%.
Source: YAHOO
Reported 4 days ago
U.S. consumers are increasingly worried about inflation and unemployment due to President Trump's tariff policies, resulting in a shift in spending habits. Surveys indicate many are planning to reduce both essential and discretionary purchases, exacerbating the risks of an economic slowdown. With the potential for increased prices on imports and decreased competition, economists warn that slowing consumer spending— which accounts for 68% of GDP—could lead to a recession, particularly as households face financial strain and fears of job market instability.
Source: YAHOO
Reported 4 days ago
A revised bankruptcy plan for Yellow Corp. has been submitted to a Delaware court, detailing distributions to creditors and prioritizing full recovery for former employees' claims. While the plan garners support from certain groups, it faces challenges from major shareholder MFN Partners, which feels excluded from negotiations. Key deadlines for voting and confirmation hearings are set for May, but the outcome remains uncertain as negotiations continue.
Source: YAHOO
Reported 4 days ago
Dow plans to power its Texas manufacturing facility with next-generation nuclear reactors instead of natural gas, aiming to significantly reduce greenhouse gas emissions. Dow's subsidiary, Long Mott Energy, has applied for a construction permit with the U.S. Nuclear Regulatory Commission to build four advanced small modular reactors. This initiative is part of a broader effort to meet increasing electricity demands and tackle climate change, although challenges around nuclear safety and waste management remain.
Source: YAHOO
Reported 4 days ago
President Trump is set to expand his trade policy with broad reciprocal tariffs on all US trade partners, which he labels as 'Liberation Day,' alongside a 25% tariff on foreign-made vehicles. The announcement is scheduled for Wednesday in the Rose Garden, amidst market uncertainty and retaliatory measures from other nations like the EU, Canada, and Mexico. With significant implications for various sectors, the tariffs are expected to reshape the landscape of US trade relations and impact domestic prices.
Source: YAHOO
Reported 4 days ago
As tax season approaches, Jason Brown from TheBrownReport.com highlights three common mistakes people make with their tax refunds and offers strategies to avoid them. He emphasizes the importance of planning and education to transform refunds into long-term financial growth, rather than treating them as disposable income for immediate enjoyment. By shifting their mindset and controlling spending, individuals can better utilize their refunds to invest and secure a stronger financial future.
Source: YAHOO
Reported 4 days ago
Varun Krishna, CEO of Rocket Companies, has initiated an aggressive acquisition strategy totaling over $11 billion, including the $9.4 billion purchase of Mr. Cooper to enhance its position in the mortgage servicing sector. Despite a drop in Rocket's stock price, Krishna remains optimistic about creating a seamless homeownership experience and notes improving trends in the housing market, impacted by factors like Trump's tariffs and fluctuating mortgage rates. He anticipates substantial revenue and cost benefits from the acquisitions.
Source: YAHOO
Reported 4 days ago
As earnings season nears, companies are preparing for weaker consumer spending and reduced earnings projections. Thomas Martin from GLOBALT Investments discusses how these changes in consumer sentiment, alongside new tariffs, may affect market performance. Recent estimates indicate a dip in projected S&P 500 growth rates, raising questions about whether companies will meet their revised guidance or face further disappointments.
Source: YAHOO
Reported 4 days ago
Rocket Companies is strategically acquiring Mr. Cooper for $9.4 billion to create a comprehensive homeownership platform that streamlines all aspects of the housing process, from searching for homes to servicing mortgages. CEO Varun Krishna emphasizes that this acquisition will strengthen client relationships and improve profitability by combining Rocket's leading origination business with Mr. Cooper's servicing capabilities.
Source: YAHOO
Reported 4 days ago
On March 31, Yum Brands is actively searching for a new CEO as David Gibbs plans to retire by early 2026 after 36 years with the company. Meanwhile, shares of Corcept Therapeutics surged following promising trial results for its ovarian cancer drug, and Hut 8 announced a new partnership with the Trump family for a bitcoin mining venture, boosting its stock as well.
Source: YAHOO
Reported 4 days ago
AMD has successfully closed a $4.9 billion deal to acquire AI infrastructure company ZT Systems, enhancing its capabilities in the AI and data center sectors. CEO Lisa Su shared insights on the importance of AI infrastructure and the company’s strategic focus on partnerships in manufacturing rather than producing its own chips. In light of current market dynamics and tariff implications, she expressed confidence in the ongoing growth of the AI sector, emphasizing that enterprises are still in the early stages of AI adoption.
Source: YAHOO
Reported 4 days ago
Bank of America Securities senior economist Aditya Bhave discusses the potential for a mild stagflation in the economy, asserting that it wouldn't spell disaster. He emphasizes that as long as job and income growth continue, the economy can withstand this phase, although the Federal Reserve may need to maintain a hawkish approach.
Source: YAHOO
Reported 4 days ago
Elon Musk has blamed Tesla's recent stock decline on his involvement in the Department of Government Efficiency (DOGE) and the backlash he faces politically. He acknowledged that being in this position has resulted in significant financial losses for himself and Tesla shareholders. Analysts have also pointed to product challenges with the rollout of the new Model Y, alongside general market sell-offs and political tensions influencing sales.
Source: YAHOO
Reported 4 days ago
Global markets are in turmoil as investors react to impending trade tariff announcements from US President Donald Trump, leading to a significant exit from risk assets towards safe havens like gold and Treasuries. With recession concerns resurfacing and stock prices plummeting, particularly in emerging markets such as South Korea and Taiwan, the sense of uncertainty is prompting a cautious approach among investors, increasing the demand for safer investments ahead of the government's tariff decisions.
Source: YAHOO
Reported 4 days ago
President Trump's upcoming tariffs, dubbed 'Liberation Day' on April 2, are set to impose 25% duties on all foreign-made vehicles and reciprocal tariffs on all US trading partners. This move is part of a broader trade policy reshaping, straining relationships with allies like the EU and Canada, and escalating tensions with partners like China and Venezuela. As markets react with volatility, Trump's threats of increased tariffs have prompted concerns among major industries and will likely raise consumer prices significantly.
Source: YAHOO
Reported 4 days ago
Nvidia’s stock dropped over 4% on Monday after President Trump announced that he would not ease reciprocal tariffs on imports, fueling market fears amid a broader tech sell-off. Trump's comments suggested imminent tariffs targeting all countries, leading to anxiety among investors and affecting companies reliant on imported components, including Nvidia. The company's CEO acknowledged that while short-term impacts from tariffs might be minor, Nvidia is preparing for a future focused on domestic manufacturing, especially as the semiconductor landscape evolves.
Source: YAHOO
Reported 4 days ago
The ongoing stock market sell-off may not be nearing its end, as economic forecasts have been downgraded for the first time in years. Analysts express concerns about potential earnings declines amid rising tariffs and an uncertain economic outlook. With major indexes showing significant drops and other factors like weak economic data and low corporate buybacks at play, the market may face additional pressure in the coming weeks.
Source: YAHOO
Reported 4 days ago
At 60 years old, earning $150,000 annually, considering a staggered Roth conversion of $50,000 to avoid future taxable minimum withdrawals (RMDs) raises essential questions about personal goals, social security income, retirement portfolio structure, and asset levels. Understanding these factors can help determine if the upfront tax costs associated with the conversion are justified by the potential long-term benefits of tax-free income and estate preservation.
Source: YAHOO
Reported 4 days ago
In a recent episode of Opening Bid, Barry Ritholtz discussed the cautionary lessons from GameStop investors. He emphasized that while meme stock enthusiasts enjoy their investments, the odds of striking it rich are slim, akin to winning a lottery ticket. Instead of chasing one-off stock miracles, Ritholtz advocates for steady, long-term investing strategies, cautioning that many who buy into the hype often face losses. He champions the idea that the GameStop phenomenon serves as a reminder of the risks involved in speculative trading.
Source: YAHOO
Reported 4 days ago
President Trump's economic strategy may extend beyond tariffs, with the 'Mar-a-Lago Accord' potentially aiming to devalue the US dollar and reshape global trade dynamics. Economists caution that such moves could destabilize the economy and undermine investor confidence, emphasizing that tariffs might be a less damaging approach amid concerns over rising trade deficits. The long-term ramifications of such bold changes could include higher prices, increased interest rates, and significant disruption to the financial markets.
Source: YAHOO
Reported 4 days ago
U.S. stocks fell sharply on Monday as concerns about an impending tariff announcement from President Trump loomed large, fueling fears of an economic downturn. The tech-heavy Nasdaq Composite led the decline, hitting a six-month low, while the S&P 500 also dropped significantly. Notably, major tech companies like Nvidia and Tesla saw steep losses. In contrast, gold prices soared to record highs as investors sought refuge from the volatile stock market.
Source: YAHOO
Reported 4 days ago
Rocket Cos. has announced its acquisition of Mr. Cooper Group Inc. for $9.4 billion in an all-stock transaction, positioning the combined entity to manage a substantial share of the U.S. mortgage market. With the deal, Rocket aims to enhance its mortgage servicing capabilities and expand its homebuying services. Mr. Cooper shareholders will receive 11 Rocket shares per share owned, with the deal expected to conclude by the end of the year pending regulatory approval.
Source: YAHOO
Reported 4 days ago
As President Trump's self-imposed deadline for announcing new tariffs approaches, uncertainty remains high regarding the specifics of what he will implement. Despite a whirlwind of speculation, including potential blanket 20% tariffs and varying treatment of different countries, Trump's decisions ultimately rest solely with him. Economic forecasts have been adjusted downward due to the anticipated increase in tariffs, with concerns about rising inflation and market instability heightening. Observers believe the forthcoming announcements may not provide the clarity businesses are seeking, with ongoing negotiations and adjustments likely to follow.
Source: YAHOO