Reported about 1 month ago
The recently blocked acquisition of Capri Holdings by Tapestry has led to a drop in Capri's stock, raising concerns about its performance. Bernstein analyst Aneesha Sherman pointed out that the odds of the deal proceeding have significantly decreased, which she believes is beneficial for Tapestry. As Capri's financial situation worsens, there may be limited upside unless it divests its Jimmy Choo and Versace brands.
Source: YAHOO
Reported about 1 month ago
Centene's shares rose after exceeding third-quarter earnings estimates, while HCA Healthcare and Universal Health Services saw declines in their stocks following disappointing earnings results. Market experts Julie Hyman and Josh Schafer discuss the wider trends in the healthcare industry revealed by these earnings.
Source: YAHOO
Reported about 1 month ago
VW's Scout Motors has unveiled two electric vehicles, the Terra pickup and the Traveler SUV, which both feature a traditional body-on-frame construction. These EVs can accelerate from 0-60 mph in just 3.5 seconds and are equipped with a range-extender hybrid option called 'Harvester,' allowing for over 500 miles of range when the gasoline generator is utilized. Designed in Michigan and built in South Carolina, the vehicles will be priced starting under $60,000, with preorders already generating strong initial interest.
Source: YAHOO
Reported about 1 month ago
The New York Stock Exchange (NYSE) announced plans to extend trading hours on its digital platform to 22 hours daily, allowing investors to trade U.S. stocks and ETFs from 1:30 a.m. ET to 11:30 p.m. ET on weekdays. This change aims to meet growing global demand for U.S. securities and is pending regulatory approval. Currently, extended trading occurs from 4 a.m. to 8 p.m. ET, with regular trading hours from 9:30 a.m. to 4 p.m. ET.
Source: YAHOO
Reported about 1 month ago
Deckers Outdoors (DECK) shares rose significantly after the company reported better-than-expected earnings and raised its outlook, driven by the popularity of its Hoka and Ugg brands. Analysts and market hosts discussed the positive performance alongside other shoe brands like Skechers and ON, highlighting trends in the apparel industry.
Source: YAHOO
Reported about 1 month ago
Newell Brands (NWL), the parent company of well-known brands such as Sharpie and Yankee Candles, saw its stock prices soar after raising its full-year outlook. Financial analysts Julie Hyman and Josh Schafer discussed the implications for investors during a recent segment on Market Domination.
Source: YAHOO
Reported about 1 month ago
Chipotle has achieved significant growth by prioritizing the well-being and career development of its employees. The story of the Armendariz sisters exemplifies this strategy; they started as crew members and have ascended to prominent roles within the company, showcasing how a clear career progression and supportive work environment can lead to success. With initiatives like tuition reimbursement and stock options, Chipotle aims to retain talent, reduce turnover, and cultivate a positive workplace culture, resulting in substantial revenue growth and expansion plans.
Source: YAHOO
Reported about 1 month ago
The Biden administration has launched a new student debt relief proposal targeting borrowers at risk of default, potentially helping up to 8 million individuals. This plan aims to automatically discharge loans for those deemed likely to default within two years and offers an application process for others facing financial hardships. Despite ongoing legal challenges to previous debt relief efforts, advocates praise this initiative as essential for aiding troubled borrowers.
Source: YAHOO
Reported about 1 month ago
Private equity firm Blackstone is in advanced negotiations to purchase minority stakes in interstate natural gas pipelines from EQT Corp for approximately $3.5 billion. This deal would assist EQT in reducing its significant debt incurred from its recent acquisition of pipeline operator Equitrans Midstream. If finalized, EQT will maintain operational control of the pipelines, while Blackstone aims to enhance its energy infrastructure portfolio, which includes significant assets like the controversial Mountain Valley Pipeline.
Source: YAHOO
Reported about 1 month ago
Tether's CEO, Paolo Ardoino, stated on October 25, 2024, that there is no indication the company is under investigation, despite a report from the Wall Street Journal suggesting U.S. authorities are looking into potential violations related to sanctions and anti-money laundering. The report claims that investigations are focusing on whether Tether has been used for illegal activities like drug trafficking and terrorism. Tether has faced scrutiny for years regarding potential bank fraud and is reportedly under consideration for sanctions by the Treasury Department.
Source: YAHOO
Reported about 1 month ago
Chinese hackers compromised Verizon's systems, targeting phones used by individuals connected to Kamala Harris' campaign, as well as those associated with Donald Trump and JD Vance. Investigations are underway to assess the data potentially accessed from these devices. Although the Trump campaign was informed of the breach, they did not confirm the specific targeting of their phones. The situation has raised concerns about foreign cyber interference in U.S. elections.
Source: YAHOO
Reported about 1 month ago
Bank of Canada Governor Tiff Macklem stated that the federal government's decision to reduce immigration targets will have a modest effect on economic growth but limited impact on inflation. While the decrease in population growth may slow GDP growth due to fewer consumers, it will also contract the labor supply, leaving price pressures largely unchanged. Macklem emphasized that the inflation forecast remains unaffected by population growth changes, and the central bank has already considered a slowdown in growth in its predictions.
Source: YAHOO
Reported about 1 month ago
In San Francisco, municipal-bond bankers are optimistic despite Citigroup's recent exit from the market, thanks to a surge in new state and local government bond sales this year, which have exceeded $423 billion, representing a 40% increase from last year. Industry experts highlight the influx of new regional and minority firms, noting that the market could set a record pace for sales in 2025. While concerns about liquidity persist among borrowers, smaller firms are stepping up to fill the gap left by larger banks.
Source: YAHOO
Reported about 1 month ago
Elon Musk has drastically increased his financial support for the GOP, contributing $56 million in recent donations, bringing his total spending for the year to over $132 million. Despite his significant backing, Kamala Harris's campaign has outperformed Trump’s in small donor contributions, raising $97 million compared to Trump's $16 million in the first half of October. Musk, now the second-largest GOP donor, is intensifying his involvement in the campaign as Election Day approaches, although surveys suggest his association may not be positively influencing all voters.
Source: YAHOO
Reported about 1 month ago
Senior banking executives from the European Union have urged governments to refrain from interfering with bank consolidation efforts, emphasizing the need for a unified financial market to enhance competitiveness. This discussion follows UniCredit's recent move to acquire a stake in Commerzbank amidst concerns from Germany. The executives argue that such decisions should be left to shareholders rather than politicians, who may not fully understand the financial landscape.
Source: YAHOO
Reported about 1 month ago
Nexus Capital Management has been approved as the leading bidder to acquire Big Lots Inc. after securing $765 million in financing aimed at supporting its bid. A federal judge confirmed that this deal, which could still attract higher offers before the deadline on October 28, will help pay down a significant amount of Big Lots' debt and potentially preserve numerous jobs. The situation is part of an effort to revitalize the troubled discount retailer amidst bankruptcy proceedings.
Source: YAHOO
Reported about 1 month ago
At the IMF and World Bank annual meetings in Washington, Managing Director Kristalina Georgieva emphasized the urgent need for governments to enhance their fiscal capacity due to high fiscal pressures, while advising central banks to be cautious and data-driven regarding the timing of interest rate cuts.
Source: YAHOO
Reported about 1 month ago
Boeing is reviewing the future of its Starliner space capsule amid broader operational evaluations under new CEO Kelly Ortberg. While no decision has been made regarding its sale, Starliner has cost Boeing over $1.8 billion, exacerbated by production issues and a recent significant flight test failure. With increased competition from SpaceX, the future of Starliner appears uncertain, although Boeing remains committed to its core aircraft and defense operations.
Source: YAHOO
Reported about 1 month ago
Two additional members of the Los Angeles Times editorial board have resigned following the newspaper owner's refusal to endorse Vice President Kamala Harris for president. Veteran journalists Robert Greene and Karin Klein's resignations came after editorial page editor Mariel Garza also stepped down in protest. The board had intended to endorse Harris, but this plan was blocked, prompting criticism over the lack of editorial voice during a consequential election.
Source: YAHOO
Reported about 1 month ago
CrowdStrike and Carahsoft entered a $32 million agreement for cybersecurity software intended for the IRS, but the agency never purchased it. This non-cancellable order led to scrutiny due to potential discrepancies in revenue recognition and concerns about pre-booking. Despite ongoing payments from Carahsoft, the lack of a direct IRS contract and the deal's implications have raised red flags among legal experts and within CrowdStrike itself.
Source: YAHOO
Reported about 1 month ago
The Washington Post has decided not to endorse any presidential candidate in 2024, a move reportedly directed by owner Jeff Bezos. Publisher William Lewis emphasized a return to the paper's roots of non-endorsement, which sparked internal controversy as a pre-written endorsement of Vice President Kamala Harris was blocked. Former executive editor Marty Baron criticized the decision, calling it a 'moment of darkness' that could undermine democracy.
Source: YAHOO
Reported about 1 month ago
Philippine central bank Governor Eli Remolona Jr. has indicated that the peso may weaken to a record low of 59 against the dollar if geopolitical tensions and uncertainties surrounding the upcoming U.S. elections persist. The peso has recently dropped nearly 4% this month, raising concerns about potential inflation due to further depreciation. Despite this, the Bangko Sentral ng Pilipinas remains committed to a gradual interest rate reduction path, aiming for a benchmark rate of 4.5% by the end of 2025.
Source: YAHOO
Reported about 1 month ago
In the midday stock market update, the S&P 500 gained 0.27% as Tapestry's stock soared by 14% following a plan to acquire Capri Holdings, which dropped nearly 50% after a federal judge blocked the merger. Meanwhile, Deckers Outdoor rose 11% due to strong earnings, and Spirit Airlines saw an 18% increase after announcing cost-cutting measures. The broader market showed mixed results with the Dow down 0.42%.
Source: YAHOO
Reported about 1 month ago
Meta Platforms announced that its AI chatbot will utilize content from Reuters to provide real-time responses to user inquiries about news and current events. This partnership marks Meta's first news deal in years amid ongoing reductions in news content across its platforms due to criticism over misinformation. Details regarding financial terms were not disclosed, but Reuters will be compensated for its journalism under a multi-year agreement. Other tech companies, including OpenAI, have also formed similar alliances with news organizations.
Source: YAHOO
Reported about 1 month ago
In a recent episode of Financial Freestyle, Van Jones reflects on a valuable lesson from Jeff Bezos, emphasizing the mindset of treating each day as a fresh start. Bezos advised that waking up every day like it's day one encourages impactful actions and promotes larger dreams, contrasting conventional hopes with a vision for greater aspirations.
Source: YAHOO