Reported 27 days ago
GE HealthCare reported better-than-expected quarterly profits due to robust demand for its medical devices in the U.S., despite a decline in sales in China linked to healthcare sector disruptions from an anti-corruption drive. The company adjusted its annual profit forecast upwards and noted significant growth in U.S. sales, while facing challenges in China, which accounted for a smaller share of its revenue.
Source: YAHOO
Reported 27 days ago
BYD has named Maria Grazia Davino, the former chief of Stellantis UK, to lead its operations across several European countries, including Germany, as part of its expansion efforts in the region. The move comes as BYD continues to strengthen its presence in Europe, building factories in Hungary and Turkey, and forming a new management structure, following other strategic appointments like Alfredo Altavilla as special adviser for Europe.
Source: YAHOO
Reported 27 days ago
Source: INVESTORS
Reported 27 days ago
Palantir Technologies (PLTR) has seen a significant rise due to the surge in artificial intelligence, but concerns about its valuation persist. Despite its strong growth and expanding client base, investors should approach PLTR cautiously. Utilizing options trading strategies, like a Bull Call Spread, can help mitigate risks while allowing participation in potential gains. This strategy involves buying and selling calls at different strike prices to offset costs, making it a prudent choice amid market volatility. However, risks remain, and it’s crucial to assess market dynamics before trading.
Source: YAHOO
Reported 27 days ago
TE Connectivity exceeded Wall Street's revenue forecasts for the fourth quarter, driven by strong demand for components from electric vehicle manufacturers, reporting total net sales of $4.07 billion compared to the $4.01 billion estimate. The company's adjusted profit of $1.95 per share also surpassed expectations, and they announced a $2.5 billion increase in their share repurchase program while preparing to reorganize their reporting structure into two segments starting in fiscal 2025.
Source: YAHOO
Reported 27 days ago
Billionaire Mark Cuban advises against investing in meme coins like Dogecoin and Shiba Inu, citing their lack of substantial backing and high risk of loss. He compares the volatile nature of meme coin investments to a game of musical chairs, where the lifespan of most meme coins is very brief. Although Dogecoin and Shiba Inu have gained some utility, Cuban suggests focusing on more stable investments for long-term wealth growth.
Source: YAHOO
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Eli Lilly's recent sales figures for its weight-loss drug Zepbound and diabetes treatment Mounjaro fell short of Wall Street predictions, causing an 8% drop in shares and a loss of nearly $70 billion in market value. Despite having addressed previous supply shortages, Lilly's CEO noted that distributors adjusted their orders, leading to excess inventory and a lack of advertising to stimulate demand. Mounjaro generated $3.11 billion in sales while Zepbound brought in $1.26 billion, both below analyst expectations. Lilly also lowered its annual profit forecast, indicating challenges in capitalizing on the growing demand for these treatments.
Source: YAHOO
Reported 27 days ago
UK traders are keenly awaiting Chancellor Rachel Reeves' first budget, the Labour government's first in nearly 15 years, as they seek assurance that Britain is a secure investment destination. This budget is critical for establishing fiscal stability while promoting economic growth, especially after markets reacted poorly to previous administrations. Investors hope for a balanced approach that manages increased borrowing for infrastructure without damaging fiscal health.
Source: YAHOO
Reported 27 days ago
Eli Lilly's stock fell over 6% after the company reported third-quarter earnings that missed Wall Street's revenue expectations, with revenues of $11.4 billion instead of the anticipated $12.17 billion. Despite a 20% year-over-year increase, the firm also lowered its profit guidance and reported earnings per share of $1.18, significantly below expectations of $1.51. Sales of its weight-loss drug Zepbound and diabetes drug Mounjaro were affected by inventory issues, although the company remains optimistic about growth driven by its GLP-1 drug portfolio.
Source: YAHOO
Reported 27 days ago
Shares of digital ad sellers soared on Wednesday, driven by robust earnings reports from Google-parent Alphabet, Reddit, and Snap, indicating strong brand spending ahead of the holiday season. Collectively, these companies could add over $110 billion to their market capitalizations. Alphabet's shares rose by 5.4%, Reddit surged 37%, and Snap increased by 13.3%. These results suggest a buoyant U.S. economy, bolstered by election-related ad spending, and bode well for other ad-dependent companies like Meta Platforms and Pinterest.
Source: YAHOO
Reported 27 days ago
Eli Lilly & Co. has reduced its revenue guidance following disappointing sales of its weight-loss drug Zepbound and diabetes drug Mounjaro, which underperformed by nearly $900 million in the latest quarter. The company cited inventory management issues as a key reason for the sales shortfall, leading to a decline in its stock price. Despite a high demand for weight-loss drugs, analysts are concerned about the impact of increased competition and potential copycat products on sales. Lilly is now expecting 2024 profits to be lower than previously estimated amid these challenges.
Source: YAHOO
Reported 27 days ago
China has instructed its automakers to pause significant investments in European countries that back new tariffs on Chinese-made electric vehicles, following a recent EU vote supporting the tariffs. This move is seen as a response to the new tariffs of up to 45.3%, which could further divide Europe. Chinese companies are encouraged to invest in countries that opposed the tariffs while being advised to avoid discussions with European governments individually. The directive highlights China's efforts to leverage negotiations with the EU and address potential declines in EV exports, especially given the challenging trade environment with the U.S. and Canada.
Source: YAHOO
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Embraer's Eve Air Mobility has secured a $50 million loan from Citibank to bolster its finances and aid in the development of its electric vertical take-off and landing (eVTOL) aircraft, intended for urban travel. This follows an $88 million credit line from Brazil's BNDES and a successful $95.6 million equity raise, bringing Eve's total liquidity to approximately $480 million. The eVTOL aircraft is projected to enter service in 2026, with nearly 3,000 potential orders already lined up.
Source: YAHOO
Reported 27 days ago
Humana Inc. projected a more optimistic outlook for 2024 after third-quarter earnings surpassed expectations, contrasting larger competitors dealing with medical cost issues. The company reported adjusted earnings of $4.16 per share, exceeding analyst forecasts, and raised its yearly profit expectation to at least $16 per share. Despite past challenges, including unexpected expense increases and declining Medicare quality scores, Humana aims to maintain profitability in 2025 as it plans investments to enhance operations. The insurer is also considering a potential merger with Cigna Group, indicating a strategic move in a challenging insurance market.
Source: YAHOO
Reported 27 days ago
Source: YAHOO
Reported 27 days ago
Shares of Alphabet surged after the company posted a strong Q3 earnings report, driven by growth in its cloud business, while AMD's stock fell following a Q3 performance that met expectations but weak guidance for Q4. Investors are also looking forward to earnings reports from Microsoft and Meta later today.
Source: YAHOO
Reported 27 days ago
Source: YAHOO
Reported 27 days ago
Source: INVESTORS