Reported 4 days ago
Nvidia's dividend payout has increased to $0.01 per share quarterly, totaling about $1 billion annually. Despite this increase, the dividend yield has dropped to only 0.03% due to a massive rise in share price. The company prioritizes reinvesting its profits into capital expenditures and research and development, particularly in response to the growing demand in the AI sector, indicating that Nvidia is unlikely to heavily focus on dividends in the near future.
Source: YAHOO
Reported 4 days ago
Zeke Faux, author of 'Number Go Up,' discusses the rising significance of cryptocurrency in the political arena as figures like Donald Trump and Kamala Harris engage in crypto conversations ahead of the presidential election. He critiques the narrative around Bitcoin as digital gold, emphasizing its correlation with risk assets and suggesting that the current excitement in politics may not reflect widespread public interest in crypto.
Source: YAHOO
Reported 4 days ago
President Joe Biden has urged port employers and shipping companies to resume negotiations with striking dock workers, warning that the prolonged strike could result in a 'man-made disaster.' With all major container ports on the Atlantic and Gulf coasts shut down due to the strike, Biden emphasized the need for companies to negotiate fairly with the International Longshoremen’s Association, which has been advocating for better wages amid ongoing disputes over automation and profit sharing.
Source: YAHOO
Reported 4 days ago
Radiant Logistics has acquired Focus Logistics, a strategic operating partner based in Michigan, as part of its growth strategy to convert partners into company-owned stations. Focus, a freight forwarder specializing in marine, aerospace, and trade show sectors, will merge with Radiant’s existing Detroit operations. Financial terms of the deal remain undisclosed, but part of the purchase price is tied to Focus’s future performance. This acquisition aligns with Radiant’s ongoing efforts to expand its network and enhance its operational capacity.
Source: YAHOO
Reported 4 days ago
The Chicago City Council Finance Committee has approved a proposal to refinance $1.5 billion in bonds to help address budget deficits faced by the city. Mayor Brandon Johnson's ordinance aims to generate savings of up to $90 million this year and an additional $35 million next year, utilizing a mix of general obligation and sales-tax backed bonds. The proposal will next be presented to the full city council for approval ahead of the upcoming presidential election.
Source: YAHOO
Reported 4 days ago
US prosecutors are expanding their investigation into potential price-fixing by SAP SE and Carahsoft Technology Corp., now involving close to 100 government agencies. The expansion comes as documents reveal that authorities are examining allegations that the companies overcharged the US government on over $2 billion in SAP technology purchases. The investigation poses significant legal risks for both companies and has prompted document demands from the Justice Department, which are characterized as a substantial broadening of an already ongoing civil probe.
Source: YAHOO
Reported 4 days ago
Source: INVESTORS
Reported 4 days ago
The latest ADP private payrolls report shows that 143,000 jobs were added in September, exceeding economists' expectations of 125,000. This data suggests a robust labor market, prompting analysis from Yahoo Finance about its implications for broader employment trends ahead of the forthcoming jobs report.
Source: YAHOO
Reported 4 days ago
Market Domination Overtime hosts Julie Hyman and Josh Lipton highlight significant financial events occurring on October 3rd, including the release of weekly Initial Jobless Claims and Mortgage Rates, discussions on the Federal Reserve's monetary policy by key officials, and the earnings report from Constellation Brands.
Source: YAHOO
Reported 4 days ago
Tesla's shares are declining after Q3 delivery numbers missed Wall Street projections. As the company gears up for its important robotaxi event on October 10th, analysts speculate on potential outcomes and its implications for investors, while also considering the competitive landscape in autonomous vehicles.
Source: YAHOO
Reported 4 days ago
The Japanese yen faced its most significant decline in over two years, falling more than 2% to around 146.51 per dollar, following comments from new Prime Minister Shigeru Ishiba that indicated the economy was unprepared for further interest-rate hikes. This downturn was compounded by dovish remarks from Bank of Japan Governor Kazuo Ueda and a strong US jobs report, leading traders to reassess expectations for Fed rate cuts, thus placing additional pressure on the yen.
Source: YAHOO
Reported 4 days ago
Chris Spear, CEO of the American Trucking Associations, has called for political intervention as the International Longshoremen's Association strike disrupts ports on the East and Gulf Coasts. The strike has already diverted around 62 container ships and nearly 500,000 containers, severely affecting trucking operations. Spear criticizes the lack of leadership and urges President Biden and his administration to mediate the situation to resolve disputes over labor and automation challenges.
Source: YAHOO
Reported 4 days ago
Following Iran's recent missile strike on Israel, Eurasia Group President Ian Bremmer discusses the heightened tensions and the strategic calculations behind Iran's actions. He suggests that Iran aimed to deliver a significant response, yet carefully avoided provoking a forceful retaliation from Israel and the US. Bremmer indicates that Israel, despite the recent strike, remains in a powerful military position and may be seeking justification to launch attacks on Iran's nuclear sites.
Source: YAHOO
Reported 4 days ago
Nearly 25,000 dockworkers from the International Longshoremen’s Association are striking for increased pay and job security against automation at ports on the East and Gulf Coasts, marking the first strike in 50 years. Current wages start at $20 per hour, with the union demanding a 77% increase over the contract period. The strike results from dissatisfaction with the proposed wage package by the U.S. Maritime Alliance and a push for better compensation to reflect the demanding work conditions.
Source: YAHOO
Reported 4 days ago
In light of recent tensions in the Middle East following an Iranian strike on Israel, Sean Bonner, chief market strategist at Siebert.Valor, warns that if Israel attacks Iranian oil infrastructure, it could severely impact market stability and oil prices, stating 'all bets are off.' He also highlights a growing affordability crisis in the U.S., where two-thirds of Americans struggle with rising costs due to inflation.
Source: YAHOO
Reported 4 days ago
The ongoing dockworkers' port strikes in the US, impacting operations from Texas to Maine, pose significant risks to supply chains. Retail executives are taking strategic measures to mitigate the disruptions' effects on their businesses, as explored by Yahoo Finance senior reporter Brooke DiPalma.
Source: YAHOO
Reported 4 days ago
Manufacturers and retailers are urging President Biden to invoke the 1947 Taft-Hartley Act to suspend a dockworkers' strike that has affected 36 U.S. ports. This law allows the president to seek a court order for an 80-day cooling-off period to facilitate negotiations, but Biden has stated he will not intervene. Historically, presidents have used this act in labor disputes with mixed results, as it is largely opposed by labor unions.
Source: YAHOO
Reported 4 days ago
Despite Tesla's third-quarter deliveries falling short of Wall Street expectations, RBC Capital Markets analysts believe this isn't critical for the company's future valuation. They argue that revenue from full self-driving technology and energy storage will be more significant in assessing Tesla's profitability moving forward. Analyst Tom Narayan highlights that customers will begin focusing more on gross profits rather than just delivery numbers, predicting an improved outlook thanks to ongoing regulatory credits and increased performance in energy storage.
Source: YAHOO
Reported 4 days ago
Levi Strauss announced it is exploring the potential sale of its struggling Dockers brand after a significant revenue drop and declining sales. The company aims to refocus on its core Levi's brand and has engaged Bank of America as financial adviser for the review. Levi's shares fell 10% following the announcement, with expectations for fourth-quarter growth revised down due to ongoing challenges in the Dockers sector and reduced consumer spending.
Source: YAHOO
Reported 4 days ago
Geopolitical tensions are causing oil prices to rise, with analyst Stephen Schork expressing concerns that traders are underestimating potential disruptions to global oil supply chains. He notes that compared to last year, current market conditions neglect significant risks, especially with the ongoing conflict in the Middle East potentially escalating. Schork emphasizes that historical volatility data suggests the market isn't pricing in enough risk, a situation that could have serious implications if conflicts worsen.
Source: YAHOO
Reported 4 days ago
U.S. stocks edged higher on Wednesday as concerns about escalating tensions between Israel and Iran weighed on market sentiment, with major indices—S&P 500, Dow Jones, and Nasdaq—closing slightly up. However, Tesla shares fell by over 3% after reporting deliveries that missed Wall Street expectations. Similarly, Nike struggled with a stock decline of about 6.5% due to a poor earnings report and withdrawal of its yearly outlook amid a CEO transition. Oil prices surged, reflecting fears over potential supply disruptions in the region, as the market continues to react to geopolitical uncertainties.
Source: YAHOO
Reported 4 days ago
Levi Strauss & Co. (LEVI) saw a drop in its stock price during after-hours trading following the announcement of its third-quarter earnings, where it reported adjusted earnings of $0.33 per share, exceeding Wall Street's expectations of $0.31. However, the company's revenue of $1.52 billion fell short of the Bloomberg consensus estimate of $1.55 billion, prompting it to lower its full-year revenue guidance.
Source: YAHOO
Reported 4 days ago
Source: INVESTORS
Reported 4 days ago
Tesla's stock fell by 3% after the company announced third-quarter deliveries of 462,890 vehicles, slightly below Wall Street's expectations of 463,897. Although this represents a 6.4% increase from the previous quarter and is higher than last year's total, concerns remain over a lower annual growth rate and heightened competition, particularly in China. The company's upcoming robotaxi event is viewed as a crucial moment for its future growth.
Source: YAHOO
Reported 4 days ago
A Russian court has frozen approximately $372 million in assets held by JP Morgan and the Bank of New York Mellon, linked to their Russian affiliates. This decision was made under the direction of Russia's deputy prosecutor, claiming a defense of federal interests after the Ukrainian Central Bank issued a license withdrawal to MR Bank, a subsidiary of Russia's Sberbank. The action was deemed to infringe upon the state's lawful interests, leading to the court's ruling.
Source: YAHOO