Reported 20 days ago
Almost ten months post-scandal, Archer-Daniels-Midland Co. continues to grapple with accounting errors, leading to a restatement of financial results and the abrupt cancellation of its earnings call. Despite identified inaccuracies being minor in impact, investor confidence has waned, with the company losing nearly $12 billion in market value this year alone. ADM's latest findings on internal controls raise further concerns about its nutrition unit's profitability as it navigates challenges in crop prices and production demand.
Source: YAHOO
Reported 20 days ago
Billionaire Israel Englander has significantly reduced Millennium Management's investment in AT&T by selling 40% of their shares, despite the company's strong recent performance. Instead, he is heavily investing in Super Micro Computer, a controversial AI stock that has raised red flags due to allegations of accounting manipulation and ongoing investigations. While Super Micro is benefiting from the AI boom, potential issues could affect its future growth.
Source: YAHOO
Reported 20 days ago
As the presidential election unfolds, financial observers should pay attention to several key areas not related to the Trump vs. Harris showdown. This includes the insights from exit polls about economic trust, the potential influence of cryptocurrency candidates, the outcome of the Ohio Senate race impacting banking leadership, the fate of cannabis legalization measures in several states, and the likelihood of a divided Congress which could affect future tax and energy policies. These factors are crucial for understanding the economic landscape and policy direction for 2025.
Source: YAHOO
Reported 20 days ago
As the 2024 US presidential election approaches, Yahoo Finance Senior Columnist Jana Herron explores the contrasting economic policies of former President Donald Trump and Vice President Kamala Harris, focusing on issues like inflation, childcare, and wages.
Source: YAHOO
Reported 20 days ago
Expeditors International reported a successful third quarter, reflecting significant year-on-year growth in air and ocean freight volumes, with airfreight up 19% and ocean freight up 12%. Despite rising transportation costs, profits increased, resulting in earnings per share of $1.63. The growth was partly attributed to 'pull-forward' volumes due to anticipation of port strikes and strong demand in air and ocean freight markets. However, the company remains cautious about future market volatility.
Source: YAHOO
Reported 20 days ago
Apple is reportedly investigating the development of smart glasses as part of its 'Atlas' project, having begun employee surveys to gain insights into this technology. This move comes amid growing competition in the smart glasses market from companies like Meta Platforms and Snap.
Source: YAHOO
Reported 20 days ago
Amazon has reaffirmed its commitment to developing a data center campus next to a Pennsylvania nuclear plant, even after the Federal Energy Regulatory Commission rejected a special power supply deal for the facility. The company plans to pay $650 million for the project, which will allow the data center to draw power directly from the Susquehanna nuclear plant, helping to advance Amazon's goals of using carbon-free energy.
Source: YAHOO
Reported 20 days ago
A recent supply chain survey revealed a significant increase in transportation pricing in October, marking a 64.1 reading on the Logistics Managers’ Index, the highest since May 2022. The report indicates a potential shift back to a thriving freight market, with transportation capacity showing slight expansion after starting the month in contraction. Despite ongoing challenges, sentiment remains optimistic, suggesting inventory levels are preparing for the holiday season, although rates of recovery are expected to be more gradual than in previous years.
Source: YAHOO
Reported 20 days ago
After the US elections, investors are preparing for a decrease in stock market volatility, a trend typically seen after significant market events. With the Cboe Volatility index reaching its highest put-to-call ratio since 2020, traders are betting on a fade in implied volatility, expecting uncertainty to decline following the elections. The VIX, which tracks expected fluctuations in the S&P 500, remains elevated but is positioned for a potential stock rally as conditions stabilize.
Source: YAHOO
Reported 20 days ago
隨著美國選民在2024年總統大選中前往投票，原油價格上漲。報導指出，不論是湯普森還是副總統哈里斯當選，均可能對原油價格及更廣泛的商品市場產生影響。
Source: YAHOO
Reported 20 days ago
As the 2024 presidential election intensifies, economist Henrietta Treyz highlights the critical role of abortion rights, noting that women, who constitute 52% of the electorate, may sway the outcome in key swing states. Treyz argues that this issue is often overlooked but is a significant motivator for voters, particularly as economic concerns take a backseat to personal rights.
Source: YAHOO
Reported 20 days ago
UK borrowing costs surged back to levels last seen post-budget announcement, reflecting persistent investor unease over government spending plans and the US presidential election's impact. The yield on 10-year gilts rose to 4.53%, indicating strong market concern regarding potential inflation and interest rate decisions by the Bank of England. The recent auction of gilts experienced the lowest demand in nearly a year, amplified by fears that current fiscal policies may not be effective, leaving investors cautious ahead of the closely contested US election.
Source: YAHOO
Reported 20 days ago
The strike by 33,000 members of the International Association of Machinists and Aerospace Workers at Boeing has come to an end, with a new contract approved that will increase wages by 38% over the next four years. Analyst George Ferguson estimates this deal will cost Boeing approximately $1 billion annually, while highlighting challenges in automating processes on Boeing’s complex factory floors, which are not as amenable to automation as those in the automotive industry.
Source: YAHOO
Reported 20 days ago
As the US presidential election nears, altcoins like Dogecoin and Solana are poised to experience significant volatility, unlike Bitcoin, which is expected to remain resilient regardless of the outcome. Analysts warn that a win for Kamala Harris could result in stricter regulations for altcoins, while a Trump victory may favor the crypto market. Amidst this uncertainty, traders are hedging their bets, anticipating major shifts in crypto prices based on the election results.
Source: YAHOO
Reported 20 days ago
Super Micro Computer (SMCI) is set to release its quarterly earnings report on Tuesday, marking its first disclosure since the resignation of its auditor, Ernst & Young, which caused a drop in its stock price. The show's hosts, Seana Smith and Madison Mills, will provide insights for investors on what to expect from the report.
Source: YAHOO
Reported 20 days ago
Copper prices have increased for the third consecutive day, buoyed by expectations of further economic support measures from China, following strong service activity data. Analysts predict additional price rallies contingent on the US election results, with past patterns indicating copper often rises on election day. Currently, copper trades at $9,759.50 per ton, and forecasts suggest it could temporarily hit $10,000 depending on election outcomes and economic factors.
Source: YAHOO
Reported 20 days ago
Palantir's shares have surged after the company announced better-than-expected quarterly results, leading to a significant increase in its stock price this year. Analysts discuss that while the company's fundamentals are strong, there are concerns regarding its high valuation and the sustainability of its projected growth rates of 30% to 40%. Despite this, signs of expansion into the US commercial market offer optimism for future growth.
Source: YAHOO
Reported 20 days ago
According to data from HFR, hedge funds generally perform better when a Democrat is in the White House, averaging a 10.2% annualized return compared to 8.7% under Republicans. The research highlights that hedge funds see higher returns under unified party control in Congress, with stock hedge funds yielding the best results under Democratic leadership. Performance metrics indicate that hedge funds have better annualized performance in the first year of a president’s term, with the highest dispersion in performance observed during Democratic presidencies.
Source: YAHOO
Reported 20 days ago
Assicurazioni Generali SpA is exploring a potential acquisition of New York-based MGG Investment Group, aiming to expand its private asset business. Initial discussions suggest a valuation in the hundreds of millions of dollars, and Generali hopes to finalize the deal ahead of its investor day on January 30. Despite these efforts, negotiations may not result in an agreement. Generali, with assets of €821 billion, recently acquired Conning Holdings and has seen a 33% rise in shares this year.
Source: YAHOO
Reported 20 days ago
Astera Labs (ALAB) saw its stock soar by nearly 30% after exceeding third-quarter earnings expectations and raising its full-year guidance, while GlobalFoundries (GFS) also experienced a rise in shares despite missing their earnings estimates. Analysts discuss the contrasting performance of these stocks in the market.
Source: YAHOO
Reported 20 days ago
The Institute for Supply Management (ISM) announced that the non-manufacturing purchasing managers index (PMI) has reached a two-year high, indicating a strengthening labor market. This data may influence the Federal Reserve's decisions at their upcoming meeting.
Source: YAHOO
Reported 20 days ago
Boeing's machinists strike has concluded after workers ratified a new union contract, marking the third attempt at an agreement. The International Association of Machinists and Aerospace Workers secured significant gains for its members, including a 38% wage increase, a $7,000 ratification bonus, and improved retirement benefits with a 100% company match on 401(k) contributions. The result signals a victory for frontline workers seeking fair treatment in their workplace.
Source: YAHOO
Reported 20 days ago
The recent Boeing strike, which lasted seven weeks and ended with a vote to approve a new contract, signals a renewed era of labor activism in the U.S. Amid rising union actions and an increase in workers' demands for better pay and conditions, various sectors have witnessed significant strikes and agreements that highlight the growing power of organized labor. As companies report record profits, workers are insisting on fair compensation that reflects their contributions.
Source: YAHOO
Reported 20 days ago
A federal judge has dismissed a class action lawsuit against Google, which accused the company of profiting from gift card scams. U.S. District Judge Beth Labson Freeman ruled that the plaintiff, Judy May, could not prove that Google caused her financial losses or was aware of receiving stolen funds. The court determined that Google was not liable for the transactions made with gift cards bought under fraudulent pretenses, despite May's claim that she lost $1,000 in a scam.
Source: YAHOO
Reported 20 days ago
DuPont de Nemours (DD) saw its stock rise after reporting third quarter earnings that exceeded estimates, primarily due to increasing demand in the AI and electronics sectors. The company has also raised its full-year profit guidance, indicating a positive outlook driven by these growing markets.
Source: YAHOO