Reported 4 days ago
Nike's stock price dropped significantly following the company's decision to withdraw its full-year guidance after reporting its latest earnings. Additionally, Nike has canceled its upcoming investor day as it is currently navigating a transition in leadership.
Source: YAHOO
Reported 4 days ago
Millennium Management, a $69 billion hedge fund, employs a strict trading strategy focused on cutting losing positions quickly to maintain profitability, having lost money only once since its inception in 1989. With 2,600 traders using various strategies across different asset classes, the fund has generated $56 billion in profits over its history. This disciplined approach not only keeps the firm profitable but has also made founder Israel Englander a billionaire.
Source: YAHOO
Reported 4 days ago
Despite ongoing tensions in the Middle East, major stock indexes saw slight gains on Wednesday. The Dow Jones, S&P 500, and Nasdaq closed just above the flat line, while the US dollar continued to gain strength for the third consecutive day.
Source: YAHOO
Reported 4 days ago
Bank of America experienced a significant outage on Wednesday, with many customers unable to access their accounts or seeing incorrect balance information. The bank has acknowledged the issue and stated that it is mostly resolved, although they did not specify the cause or when full functionality would return. Customers reported seeing zero balances and difficulties logging in, leading to widespread frustration before the bank apologized for the inconvenience.
Source: YAHOO
Reported 4 days ago
Erik Hirsch, co-CEO of Hamilton Lane, forecasts a significant increase in initial public offerings (IPOs) and merger and acquisition (M&A) activity in the first quarter of 2025. This optimism comes despite current global uncertainties, including geopolitical tensions in the Middle East and a historic port strike. Hirsch believes that once the November election results are known and clarity is restored regarding the Middle East situation, market activity will pick up, contingent on the assumption that current disruptions will be short-lived.
Source: YAHOO
Reported 4 days ago
Lamb Weston, a manufacturer of frozen potato products, reported that while there are signs of improving restaurant traffic, many value-meal promotions are offering smaller servings of french fries, causing potential challenges for the supplier. CEO Tom Werner indicated that although demand for fries remains stable, the shift from medium to small portions in meal deals is impacting their sales volumes.
Source: YAHOO
Reported 4 days ago
Costco has introduced 1-ounce platinum bars and Canadian Maple Leaf platinum coins to its product lineup, priced at $1,089.99 each. The addition follows the retailer's successful sales of gold and silver, significantly boosting its e-commerce operations. However, the platinum items are limited in availability and cannot be returned. While these precious metal sales generate significant revenue, the profit margins are reportedly low, serving primarily to enhance Costco's brand value.
Source: YAHOO
Reported 4 days ago
Humana's (HUM) stock has taken a significant hit due to recent alterations in the US government's Medicare quality ratings, which are expected to adversely affect the company's profits. Only 45% of its plans now receive ratings of 4 stars or higher, a steep decline from 94%, leading to concerns about the impact on their member base.
Source: YAHOO
Reported 4 days ago
Ray Dalio, a prominent investor, argues that China must decide between pursuing a healthy economic deleveraging or facing a prolonged economic downturn akin to Japan's past crises. Following unprecedented stimulus measures, China's stock market has surged, yet Dalio warns that significant policy changes are still necessary to address the country's deep-seated economic issues.
Source: YAHOO
Reported 4 days ago
Microsoft is introducing Copilot Voice and Copilot Vision, aiming to enhance user interactions with PCs through voice commands and on-screen assistance. These features promise to allow users to engage in conversations with their computers and receive tailored responses based on their actions, potentially transforming how technology is utilized. However, Microsoft faces stiff competition from Apple and Google in the AI space, and the success of these innovations will be crucial for their consumer appeal.
Source: YAHOO
Reported 4 days ago
OpenAI has successfully completed a substantial funding round, raising $6.6 billion, which brings its valuation to $157 billion. This move highlights the growing interest and investment in the artificial intelligence sector. Experts from Yahoo Finance discuss the implications of this funding and its significance for OpenAI and the broader AI landscape.
Source: YAHOO
Reported 4 days ago
Curious about your financial standing in comparison to your friends? This article offers a statistical approach to assess your wealth without directly asking them. It highlights factors such as age, homeownership, education, and career paths, providing median net worth figures to help you see if you're above average for your demographic. Ultimately, it encourages focusing on personal financial growth rather than comparisons to others.
Source: YAHOO
Reported 4 days ago
Oil prices experienced a rise of nearly 3% before settling amidst concerns over potential supply disruptions linked to the ongoing Middle East conflict. The fluctuations came after Iran launched missiles at Israel, prompting fears of retaliatory actions that could impact oil production. Despite a brief spike, prices moderated following indications from Russia's Deputy Prime Minister about OPEC+'s plans to increase oil supplies in December and unexpected increases in U.S. crude inventories.
Source: YAHOO
Reported 4 days ago
Dockworkers at U.S. East and Gulf Coast ports are on strike, halting the import of beef and seafood crucial for hamburgers and other food products. The strike has led to over 50 container ships stranded offshore, threatening to create shortages and price hikes in the food supply chain. The beef sector is particularly vulnerable due to limited domestic supplies following severe droughts, with a noted increase in beef imports from Australia and other countries. If the strike continues, fast-food chains may face increased costs, ultimately affecting consumers.
Source: YAHOO
Reported 4 days ago
Costco is enhancing its precious metals inventory by adding one-ounce platinum bars priced at $1,089.99, available online exclusively for loyalty members. This move follows the retailer's successful sales of gold bars and silver coins, which generated significant revenue. Despite a membership fee increase after seven years, Costco remains committed to maintaining low prices on essential items.
Source: YAHOO
Reported 4 days ago
The recent ADP report showed that 143,000 jobs were added in September, surpassing economist predictions of 125,000. While this indicates a robust labor market, chief economist Nela Richardson points out that there was no increase in wage growth, suggesting that this hiring surge won't lead to inflation, which is favorable for the Federal Reserve. Richardson describes the current labor market as nearing a 'Goldilocks scenario,' balancing sufficient job growth without inflationary pressures.
Source: YAHOO
Reported 4 days ago
Oil prices are projected to rise as geopolitical tensions in the Middle East escalate, particularly after Iran's missile attack on Israel. Bill Baruch, President of Blue Line Futures, notes that the oil market has seen significant bearish positioning, which he believes could lead to a rally. He anticipates that oil could hit $80 per barrel by the end of 2024, driven by low inventory levels, Chinese economic stimulus, and current geopolitical dynamics.
Source: YAHOO
Reported 4 days ago
In a recent discussion, Vanguard's Roger Aliaga-Díaz emphasized the importance of blending active and passive investment strategies. He highlighted that active management can add value, especially during volatile times like election years or significant Federal Reserve moves. Instead of choosing an all-or-nothing approach, Aliaga-Díaz advocates for a mix of both strategies to optimize portfolios and manage risks effectively.
Source: YAHOO
Reported 4 days ago
Humana's stock dropped nearly 15% after the Centers for Medicare and Medicaid Services (CMS) downgraded its Medicare Advantage plan ratings, leading to decreased enrollment projections for 2025 and an anticipated revenue impact in 2026. The company's star ratings fell from 4.5 to 3.5, affecting its bonuses and overall financial outlook, which is compounded by rising medical loss ratios as seniors utilize more services.
Source: YAHOO
Reported 4 days ago
ADP's recent payroll report highlights Denver, Colorado, as the leading labor market in the United States, with a growth rate surpassing expectations. The report noted that 143,000 jobs were added in September, exceeding the forecast of 125,000. Other notable cities in the top five labor markets include Oklahoma City, Portland, Las Vegas, and Seattle.
Source: YAHOO
Reported 4 days ago
A strike by portworkers has halted the unloading of coffee containers along the US East Coast, worsening supply issues in the largest coffee-consuming nation. This disruption is expected to raise coffee prices further, which have recently hit multi-year highs due to reduced imports. With containers stuck at ports, companies may face additional fees, and some sellers are refraining from making deals as they await resolution of the labor conflict.
Source: YAHOO
Reported 4 days ago
Hurricane Helene has caused significant destruction in North Carolina, displacing families and disrupting power supply. Recovery will be challenging, but financial assistance plays a crucial role in preventing bankruptcy for those affected. Yahoo Finance's Janna Herron discusses how aid can be vital during such natural disasters and personal crises.
Source: YAHOO
Reported 4 days ago
Tesla's stock is experiencing a downturn following the announcement of 462,890 vehicle deliveries in Q3, which fell slightly short of analysts' expectations. In related news, OpenAI successfully secured $6.6 billion in a new funding round, bolstering its valuation to $157 billion. Other stocks attracting attention include Joby Aviation, Nike, and Clover Health.
Source: YAHOO
Reported 4 days ago
Stellantis, the parent company of Chrysler, has reported a significant 20% decline in U.S. sales, with total vehicle sales falling to 305,294 units in the third quarter of 2024. The company implemented a strong incentive program to address inventory issues, successfully reducing dealer stock by over 50,000 units. Despite these efforts, Stellantis was projected to underperform in the automaker market, with a market share increase from 7.2% in July to 8% in September. Continued incentives are planned through the end of the year as the company prepares for the launch of new models.
Source: YAHOO
Reported 4 days ago
Chinese tech stocks experienced a significant rally, led by major companies such as Alibaba, JD.com, PDD Holdings, Baidu, and Li Auto, all showing gains. This surge is attributed to recent economic stimulus measures and fiscal policies enacted by the Chinese government to support the economy.
Source: YAHOO