Reported 27 days ago
Advanced Micro Devices (AMD) saw its stock decline by 7.6% in after-hours trading following a weaker than expected fourth-quarter revenue guidance, although its third-quarter results slightly exceeded expectations. Despite the drop, AMD's management raised its forecast for 2024 AI chip sales to over $5 billion, up from a previous estimate of $4.5 billion, reflecting strong demand particularly in the data center segment. The company reported significant revenue growth year-over-year, driven by increased sales of GPUs and CPUs.
Source: YAHOO
Reported 27 days ago
This article highlights three exceptional dividend growth stocks—Costco, AbbVie, and Visa—that are ideal for long-term investment. Each of these companies has demonstrated strong revenue growth, competitive advantages, and a commitment to rewarding shareholders through consistent dividend increases. With impressive historical returns and solid financial foundations, they are positioned to continue delivering wealth for investors over time.
Source: YAHOO
Reported 27 days ago
Caterpillar revised its annual revenue projection downward due to decreased equipment demand in Europe and Asia/Pacific, as well as reduced stockpiling by North American dealers. Following a third consecutive quarter of declining sales, the company's shares fell 2.1%. The outlook is dimmed by concerns over high borrowing costs, economic uncertainty, and a downturn in the Chinese property market. Despite the challenges, executives remain optimistic about long-term demand buoyed by unspent infrastructure funds from Biden's 2021 law.
Source: YAHOO
Reported 27 days ago
The euro zone economy grew by 0.4% in the third quarter, surpassing expectations, but faces weak prospects due to potential trade wars, low consumer confidence, and ongoing industrial recession. While Germany showed signs of resilience, the overall growth remains below potential, and future challenges, including tariff threats from the U.S., could further hinder recovery, leading to predictions of continued stagnation.
Source: YAHOO
Reported 27 days ago
GSK has warned of a decrease in vaccine sales for 2024 following disappointing third-quarter performance for its RSV and shingles vaccines, leading to a drop in shares. The company now expects a low-single-digit percentage decline in vaccine sales, down from earlier growth projections. CEO Emma Walmsley highlighted recent challenges, including a narrowed age recommendation for RSV vaccines, but maintained confidence in the long-term prospects of its vaccines. GSK also recently reached a settlement to resolve lawsuits related to its Zantac heartburn drug.
Source: YAHOO
Reported 27 days ago
Source: WSJ
Reported 27 days ago
Reddit Inc. shares skyrocketed over 40% on Wednesday, hitting a record high after the company reported quarterly sales of $348.4 million, exceeding expectations. This marks the social network's first profitable quarter since its IPO in March. The strong performance is attributed to its investments in advertising technology and successful strategies to attract business clients. With optimistic projections for holiday sales, Reddit continues to enhance its advertising offerings and explore partnerships with AI firms.
Source: YAHOO
Reported 27 days ago
Source: BARRONS
Reported 27 days ago
Source: YAHOO
Reported 27 days ago
Ford Motor Co. has seen its stock drop about 8% this week due to issues in improving efficiency in its gasoline operations, critical for funding electric vehicle initiatives. CEO Jim Farley acknowledged quality and supplier challenges while confirming annual results would meet the lower end of projections. Unlike General Motors, which has pursued aggressive stock buybacks, Ford has focused on dividends, leading to investor dissatisfaction as it faces significant cost gaps compared to competitors. Analysts question when Ford will address these longstanding operational issues.
Source: YAHOO
Reported 27 days ago
Despite a seemingly robust economy and a record-high Nasdaq Composite this year, many investors find the current bull market 'weird.' Analysts point to a cognitive dissonance, as economic indicators suggest a soft landing, yet the dynamics of Big Tech earnings and external factors create uncertainty. Unlike previous bull markets, this one is influenced by a unique rate environment, which has surprisingly reduced interest payment burdens for non-bank corporations, fostering sustained expansion despite aggressive rate hikes. The ongoing economic growth continues to challenge traditional market norms.
Source: YAHOO
Reported 27 days ago
Currency volatility has increased sharply as investors prepare for the upcoming U.S. presidential election, which could lead to significant economic policy shifts. The implied volatility for the euro-dollar pair has reached its highest since March 2023, while sterling-dollar volatility also surged. Betting markets indicate a rising likelihood of a Trump victory, potentially impacting U.S. interest rates and the dollar's strength. The dollar index has climbed to a three-month high as anticipation builds ahead of the election on Nov. 5.
Source: YAHOO
Reported 27 days ago
AMD's third quarter earnings met analyst expectations for earnings per share and surpassed revenue predictions, but the company's Q4 revenue outlook of $7.2 to $7.8 billion fell short of Wall Street's $7.55 billion consensus, leading to a 9% drop in its stock price. The chipmaker reported adjusted earnings per share of $0.92 on revenues of $6.8 billion, driven by strong demand in its data center and client segments, but faced a steep 69% decline in its gaming segment. Despite these challenges, CEO Lisa Su emphasized growth opportunities ahead.
Source: YAHOO
Reported 27 days ago
U.S. stock indexes closed lower as investors reacted to disappointing chip stock performances, despite gains from Alphabet following its strong earnings report. The information technology sector suffered the most, while broader market sentiment was weighed down by concerns over upcoming corporate earnings and mixed economic indicators, including a GDP growth rate of 2.8% and a surprising surge in private payroll growth.
Source: YAHOO
Reported 27 days ago
AMD's stock plummeted 11% after the company announced lower-than-expected revenue forecasts, indicating slower growth in AI chip sales. Despite projecting over $5 billion in AI accelerator sales for the year, investors were hoping for a stronger performance compared to rivals like Nvidia. CEO Lisa Su reassured that AMD is increasing production and gaining customer trust, but supply constraints limit their growth potential. The company's third-quarter revenue rose 18% to $6.82 billion, yet concerns linger about the profitability of AI services and overall demand for their products.
Source: YAHOO
Reported 27 days ago
Stellantis, the parent company of Chrysler, is set to recall approximately 33,777 Ram 1500 pickup trucks in the U.S. due to potential issues with the electronic stability control system. The National Highway Traffic Safety Administration reported that damaged front wheel hub encoder rings could disable this crucial safety feature. Affected vehicles will be inspected and repaired free of charge by dealers.
Source: YAHOO
Reported 27 days ago
Trump Media & Technology Group's stock prices experienced significant fluctuations as they approached a nearly $54 level following a sharp rise, with trading briefly halted amid speculation on former President Trump's reelection chances. The stock, which was trading for less than $12 previously, reflects increased interest from investors betting on the political outcome as Election Day nears.
Source: YAHOO
Reported 27 days ago
UBS Group AG reported a net income of $1.4 billion for the third quarter, almost double analysts' expectations, driving shares to their highest levels since 2008, despite broader market uncertainties and regulatory risks on the horizon. The CEO warned about potential volatility due to geopolitical events, particularly related to the upcoming U.S. elections and declining global interest rates. While UBS is making progress in integrating Credit Suisse and cutting costs, the bank faces uncertainty regarding future capital requirements as the Swiss parliament investigates the Credit Suisse crisis.
Source: YAHOO
Reported 27 days ago
Korea Zinc Co. experienced a significant drop in share value, plummeting by 30% after the chairman announced plans for a heavily discounted $1.8 billion stock offering to pay down debt. The decision, which allocates a portion of shares to employees, has raised concerns among investors about the impact on existing shareholders and the company's financial strategy amidst an ongoing battle for control between rival factions.
Source: YAHOO
Reported 27 days ago
Alphabet's stock increased by 6% on Wednesday following the company's fiscal Q3 earnings report, which exceeded analyst predictions with earnings per share of $2.12 and revenue of $88.27 billion, driven by robust cloud growth of 35%. CEO Sundar Pichai highlighted the strength of their AI portfolio as a key driver of new customer acquisitions and larger deals. As competition heats up with other tech giants investing in AI, Alphabet plans significant capital expenditures to enhance its cloud services.
Source: YAHOO
Reported 27 days ago
Chinese automaker Geely has unveiled its new Leishen EM-i hybrid technology, boasting better fuel efficiency and driving range than competitor BYD's recent offerings. The new system achieves 2.62 litres of fuel consumption per 100 kilometres and a total range of 2,390.5 km. Geely's first car featuring this hybrid tech, the Galaxy Starship 7, recorded fuel consumption of three litres per 100 km in real-world tests. This development intensifies the competition in China's auto market, where BYD currently holds a significant lead.
Source: YAHOO
Reported 27 days ago
In its inaugural budget, the Labour government in the UK, led by Chancellor Rachel Reeves, announced a £40 billion tax hike and increased spending to address financial gaps and bolster public services. The budget includes a significant allocation for the National Health Service, adjustments to debt rules, and increases in various taxes, particularly affecting employers. While some opposition figures criticized this as a breach of campaign promises, Reeves defended the measures as essential for restoring economic stability after years of Conservative governance.
Source: YAHOO
Reported 27 days ago
Google's parent company, Alphabet, reported a significant 35% increase in Google Cloud revenue for the July-September quarter, the fastest growth in two years, suggesting a positive outlook for major competitors Amazon and Microsoft. Analysts note that this continued growth reflects the growing importance of AI in decision-making for organizations, despite Google's smaller cloud market share. Increased investment in AI technology and the integration of AI tools into its cloud offerings have attracted more customers, contributing to Alphabet's overall revenue growth.
Source: YAHOO
Reported 27 days ago
China's largest state-owned banks saw profit increases in the third quarter despite a slowing economy and shrinking profit margins. The Industrial & Commercial Bank of China reported a 3.8% rise in profits, while smaller banks experienced growth ranging from just over 1% to nearly 6%. Despite margin pressure and rising bad debts, these banks are benefiting from lower provision charges and increased 'other operating income'. However, the overall revenue growth remains modest, signaling potential weaknesses in true profitability.
Source: YAHOO
Reported 27 days ago
Advanced Micro Devices (AMD) saw an 8% decline in its stock price after failing to meet investor expectations with its revenue forecast, particularly for AI chips, which could result in a market value loss of around $20 billion. Despite significant gains in the past year, AMD's forecast indicates that production is lagging behind the rising demand for its processors, leading analysts to express concerns over future performance and supply issues, as rival chipmakers also experienced drops in stock value.
Source: YAHOO