Reported 27 days ago
Keith Gill, known as 'Roaring Kitty,' has sold his stake in Chewy (CHWY), causing a stir in the market. This information came from a recent SEC filing, prompting discussions among investors about the implications of this move. Analysts Seana Smith and Josh Schafer provide insights into what this means for the stock and the broader market.
Source: YAHOO
Reported 27 days ago
Volkswagen is set to implement cost-saving strategies following a significant 42% drop in operating profit in the third quarter, largely influenced by decreasing demand in China. In response to these challenges, the company is expected to close three plants in Germany.
Source: YAHOO
Reported 27 days ago
Mexico's economy saw a surprising 1% growth in the third quarter, bolstered by strong domestic demand and a recovery in agriculture, despite a decline in exports due to weakness in the U.S. However, forecasts indicate that this momentum may not last, with concerns over inflation, government policies, and external economic factors potentially leading to a slowdown in the coming years.
Source: YAHOO
Reported 27 days ago
Investors are increasingly anxious about the substantial spending on AI by Microsoft and Meta as they await their earnings reports. Microsoft has invested approximately $14.6 billion, a 45% increase year-over-year, while Meta's spending has surged nearly 70% to $11 billion. Analysts are looking for signs that these investments are translating into revenue and profit growth, especially for Microsoft, which is facing challenges with its Azure service. In contrast, Meta's stock has risen significantly this year, but it still faces pressure to demonstrate the value of its AI investments.
Source: YAHOO
Reported 27 days ago
Sales of asset-backed securities, including those backed by auto loans, airplane leases, and restaurant fees, have reached a record $316 billion, exceeding the previous post-financial crisis peak. This surge is driven by banks offloading loans due to new capital regulations and increasing demand from investors, particularly insurance companies seeking higher yields. Notably, sales of exotic asset-backed securities tied to unconventional assets have also surged, highlighting a growing interest from investors in diverse collateral types.
Source: YAHOO
Reported 27 days ago
Brazil's Finance Minister Fernando Haddad has gained the support of Rui Costa, President Lula's chief of staff, to move forward with spending cuts aimed at alleviating investor concerns regarding the country's fiscal health. The discussions focused on measures to ensure mandatory expenses comply with fiscal rules, as the government seeks to eliminate its primary fiscal deficit by 2025. With plans to cap growth in government initiatives and a proposal expected to be announced soon, Haddad aims to regain investor confidence amidst increasing skepticism about fiscal discipline.
Source: YAHOO
Reported 27 days ago
In September, pending home sales in the US rose by 7.4% compared to the previous month and 2.2% year-over-year, according to the National Association of Realtors (NAR). Host Seana Smith discusses these housing market trends and regional variations.
Source: YAHOO
Reported 27 days ago
Visa's stock rose after it reported better-than-expected earnings in its fiscal fourth quarter, fueled by increased cross-border transactions. In contrast, Kraft Heinz saw its shares plummet following a third-quarter revenue miss, which the company attributed to decreased demand for meal kits and snacks, marking its sixth consecutive quarterly sales miss.
Source: YAHOO
Reported 27 days ago
In September, pending home sales in the US climbed 7.4%, marking the largest gain in over four years, driven by lower borrowing costs and increased market inventory. Despite the rise, the index remains historically low, as many buyers await further decreases in mortgage rates. Sales growth occurred nationwide, with predictions of continued improvement if job growth and stable mortgage rates continue, potentially leading to a recovery in the existing-home market in the coming years.
Source: YAHOO
Reported 27 days ago
The U.S. Treasury Department announced on Wednesday that it will not increase auction sizes for notes and bonds through January 2025, aligning with market expectations, while rolling out a $125 billion refunding plan from November 2024 to January 2025. The Treasury stated it will refund approximately $116.4 billion of maturing securities to raise new cash. It will also moderately increase auction sizes for Treasury Inflation-Protected Securities to align with supply and demand dynamics.
Source: YAHOO
Reported 27 days ago
The recent turmoil in the bond market has severely impacted quant investors who had taken bullish positions in Treasuries, leading to significant losses. As yields surged unexpectedly, many trend-following funds faced liquidation of their long positions, which not only wiped out gains for the year but led to a potential further sell-off of up to $240 billion in bonds. This ongoing volatility underscores the challenges faced by investors in navigating a rapidly changing economic landscape.
Source: YAHOO
Reported 27 days ago
Economists anticipate a slowdown in shelter inflation due to recent Federal Reserve interest rate cuts, despite strong previous performance. With the U.S. economy showing resilience, indicated by a 2.8% growth rate in GDP for Q3 and robust job growth, experts suggest that shelter inflation, a significant factor in consumer price indexes, may start to decline as new rent growth slows.
Source: YAHOO
Reported 27 days ago
In a recent episode of Financial Freestyle, Squire Technologies Inc. co-founder Dave Salvant offers valuable advice for aspiring entrepreneurs. He emphasizes the importance of solving a problem you are passionate about, conducting thorough research, and the benefits of partnering with a co-founder to maintain morale during tough times in business.
Source: YAHOO
Reported 27 days ago
Reddit has reported a profit of $29.9 million for the first time since going public, bolstered by impressive user growth and new AI features. The platform saw a 47% increase in daily users, reaching 97.2 million, thanks in part to its AI translation tool, which allows users to read posts in multiple languages. CEO Steve Huffman noted the significance of Reddit as a go-to source for information and community, especially highlighted during recent hurricane events.
Source: YAHOO
Reported 27 days ago
In September, contracts to purchase previously owned U.S. homes increased 7.4%, marking the largest rise in over four years, attributed to attractive interest rates and increased property inventory, according to the National Association of Realtors (NAR). The Pending Home Sales Index reached 75.8, the highest since March. All regions saw month-over-month increases, with forecasts suggesting a continued positive trend if the economy maintains job growth and inventory levels improve.
Source: YAHOO
Reported 27 days ago
Chancellor of the Exchequer Rachel Reeves has announced £40 billion in tax increases and increased borrowing in her first budget, aiming to address Labour's promise to rebuild the UK despite potential voter disappointment. This budget marks a historic postwar tax burden, targeting businesses and the wealthy, while also revealing Labour's challenges inherited from the Conservative government. Critics have raised concerns over rising costs and the impact on public services, as Reeves navigates the political landscape in the wake of a significant economic situation.
Source: YAHOO
Reported 27 days ago
Eli Lilly has revised its 2024 earnings forecast downward after reporting disappointing third-quarter results that fell short of Wall Street expectations, particularly in sales of its diabetes drug Mounjaro and weight loss treatment Zepbound. The company's shares dropped significantly following the announcement, although analysts remain cautiously optimistic about future demand for these medications.
Source: YAHOO
Reported 27 days ago
Super Micro Computer reported that Ernst & Young has resigned as its auditor, causing its shares to drop over 30%. This resignation raised concerns among investors about the company's accounting practices, following earlier claims of potential manipulation and a delayed annual report due to internal control assessments. EY cited unreliability in management's representations as the reason for its resignation, while Super Micro disagreed with the decision, asserting it wouldn't affect the restatement of past quarterly reports.
Source: YAHOO
Reported 27 days ago
Eli Lilly and Company (LLY) saw its stock fall in premarket trading after reporting third quarter results that fell short of revenue expectations, largely due to disappointing sales of its weight loss drug, Zepbound. The company also reduced its profit forecast for the year.
Source: YAHOO
Reported 27 days ago
Alphabet Inc. has reported strong third-quarter earnings, with Google Cloud seeing a remarkable 35% year-over-year growth, while overall digital ad sales grew only 10%. Analysts suggest that Google Cloud's performance may indicate market share gains against competitors like Microsoft Azure and Amazon Web Services. The company's new CFO is focusing on cost management as they continue to prioritize investments in artificial intelligence.
Source: YAHOO
Reported 27 days ago
Source: INVESTORS
Reported 27 days ago
Snap Inc. (SNAP) shares experienced a significant uptick in early trading as the social media company reported better-than-expected Q3 earnings and an increase in active users. Additionally, Snap announced a $500 million share repurchase program, further boosting investor confidence.
Source: YAHOO
Reported 27 days ago
As the market opens, stocks display mixed signals with the Nasdaq Composite slightly up, while the Dow Jones and S&P 500 decline. Alphabet outperformed earnings estimates, contrasting with the anticipation of reports from Microsoft and Meta Platforms later in the day.
Source: YAHOO
Reported 27 days ago
Airbus SE has secured an order for 60 A321neo jets from Riyadh Air, a new airline backed by Saudi Arabia's sovereign wealth fund, as the kingdom aims to enhance its aviation and tourism sectors. This order increases the airline's total acquisitions to 132 aircraft, with services expected to launch in 2025. The deal highlights Airbus's competitive edge over Boeing in the regional market, as Riyadh Air seeks to establish itself against established players like Emirates and Qatar Airways.
Source: YAHOO
Reported 27 days ago
Caterpillar Inc. shares experienced their largest drop in six months after the company lowered its sales outlook due to a global slowdown in construction activity. In its latest earnings report, Caterpillar projected full-year sales and revenue to be slightly below previous estimates and disclosed that third-quarter earnings fell short of analyst expectations. Notably, construction equipment sales dropped by 9%, with significant declines in key regions like North America and Europe, while mining equipment revenue also fell. Despite these challenges, the energy and transportation sector saw a 5% sales increase.
Source: YAHOO