Reported about 2 months ago
Alibaba has received shareholder approval to upgrade its Hong Kong listing to primary status, a strategic move aimed at attracting significant investments from mainland China. This change allows Alibaba to connect with the Shenzhen and Shanghai stock exchanges, increasing its competitive edge amid rising market rivals. The upgrade does not involve issuing new shares or raising additional funds, and Alibaba's stock rose 0.7% following the announcement.
Source: YAHOO
Reported about 2 months ago
Ahead of Jerome Powell's anticipated speech at the Jackson Hole symposium, US equity futures experienced slight gains, with traders speculating on potential interest rate cuts. While the S&P 500 futures rose by 0.3%, concerns lingered over whether Powell would temper market expectations. Economic indicators showed mixed results, including a gradual cooling in the job market. The Japanese yen strengthened in response to the Bank of Japan's hawkish signals, while the dollar softened.
Source: YAHOO
Reported about 2 months ago
加拿大政府於週四早上就介入結束了國內兩大貨運鐵路的停工，並命令進行具有約束力的仲裁，以解決勞資糾紛，避免對美加經濟造成嚴重影響。此次停工是由於兩家鐵路公司管理層對工會工人的封鎖所引發的。儘管工會對政府的介入表示失望，但政府強調，保持此重要行業的工業和平是其責任。行業內的企業迫切呼籲政府的干預，以避免可能的經濟損失。
Source: YAHOO
Reported about 2 months ago
The 2024 Economic Symposium hosted by the Federal Reserve Bank of Kansas City kicks off in Jackson Hole, Wyoming, with investors keenly awaiting a significant speech from Fed Chair Jerome Powell on future interest rate policies. Yahoo Finance's senior reporter Jennifer Schonberger provides an insider's perspective on the event, highlighting not only economic discussions but also various planned activities for attendees.
Source: YAHOO
Reported about 2 months ago
Cava reported impressive second-quarter earnings, exceeding revenue and earnings expectations with a 35.2% year-over-year revenue increase, totaling $233.5 million. The launch of grilled steak significantly contributed to a 14.4% rise in same-store sales, while CEO Brett Schulman noted the brand's success amid economic challenges. Cava's stock soared to an all-time high, reflecting investor confidence in its growth plans, which include opening new locations and testing catering services.
Source: YAHOO
Reported about 2 months ago
Vice President Kamala Harris has declared a strong opposition to price gouging, particularly in food prices, and vows to outlaw the practice if elected president in 2024. Yahoo Finance columnist Rick Newman sheds light on the definition of price gouging and highlights the sectors most affected by this issue.
Source: YAHOO
Reported about 2 months ago
Workday has outperformed Wall Street's revenue expectations for the second quarter and announced a stock buyback plan worth $1 billion, boosting its shares by approximately 11% in pre-market trading. Despite rising corporate expenditures on payroll services, particularly from small to medium enterprises, the company projected third-quarter subscription revenue below estimates due to a slowdown in hiring and anticipated changes in the economic environment.
Source: YAHOO
Reported about 2 months ago
Cava Group's stock (CAVA) rose after it reported impressive second-quarter earnings, generating $233.5 million in revenue—surpassing expectations of $219.5 million—and achieving a 14.4% growth in same-store sales, nearly double the anticipated 7.45%. This positive performance has analysts optimistic about the company's future.
Source: YAHOO
Reported about 2 months ago
In a recent analysis, Morgan Stanley's housing strategist Jim Egan identified four key factors obstructing the recovery of the housing market, particularly emphasizing the high mortgage rates, which are currently around 6.5%, making it unaffordable for many potential homebuyers. This presents significant barriers for first-time buyers, who face the toughest affordability conditions in over three decades, limiting their ability to enter the market.
Source: YAHOO
Reported about 2 months ago
As trading winds down, Yahoo Finance's Josh Schafer highlights notable market developments, including last week's jobless claims data indicating a possible stabilization in the labor market, projections on the Federal Reserve's next interest rate decisions, and key trading patterns for major technology stocks within the Nasdaq 100 index.
Source: YAHOO
Reported about 2 months ago
Cruise, the autonomous vehicle company backed by General Motors, will begin offering its self-driving cars on Uber's ride-hailing platform starting next year, marking a comeback after operational setbacks. This multi-year partnership allows Uber users to select Cruise vehicles for their rides, following an increase in self-driving trips on Uber's platform in recent months. Despite previous challenges, including an accident that halted Cruise's operations, the company is taking steps towards regaining regulatory confidence and expanding its fleet.
Source: YAHOO
Reported about 2 months ago
As college graduates enter the workforce, cities like New York, Boston, and Chicago emerge as popular destinations due to job density and housing availability. JLL CEO John Gates highlights that these cities attract new workers, alongside lesser-known secondary cities, thanks to their proximity to universities and robust job markets.
Source: YAHOO
Reported about 2 months ago
McDonald's has emerged as a significant symbol for Democrats, particularly with candidates Kamala Harris and Doug Emhoff, both of whom have worked there. By emphasizing their working-class backgrounds, they aim to connect with voters and distinguish themselves from former President Trump, who is portrayed as elitist. This strategy reflects a broader Democratic narrative that champions labor, resonating with the increasing labor movement in America.
Source: YAHOO
Reported about 2 months ago
According to a recent S&P Global Ratings analysis, Medicare Advantage (MA) plans, which have seen rising popularity among seniors, may lead to lower credit ratings for hospitals due to delayed payments and claims denials. While MA plans are marketed as efficient options compared to traditional Medicare, they result in lower margins for healthcare providers, and the Centers for Medicare and Medicaid Services are attempting to cut reimbursements, which could further strain health systems financially.
Source: YAHOO
Reported about 2 months ago
As the US dollar hits a low point not seen since 2023, investors are increasingly looking to bitcoin as a viable alternative. Matthew Graham, managing partner at RYZE, discusses the major macroeconomic factors influencing bitcoin's price and highlights the recent positive sentiment surrounding bitcoin ETFs, though he suggests that trading volume may not fully reflect investor interest.
Source: YAHOO
Reported about 2 months ago
Skydance Media has accused Paramount Global of breaching their merger agreement by engaging with another potential buyer despite a prior agreement stipulating exclusivity. Skydance alleges that Paramount did not properly notify them about extending the deadline to consider competing offers and argues that the competing bid does not meet the conditions to be considered superior. As a result, Skydance is contemplating enforcing or terminating the deal.
Source: YAHOO
Reported about 2 months ago
Thursday marks the conclusion of the Democratic National Convention in Chicago, where Vice President Kamala Harris will accept her nomination. Upcoming economic data on new home sales is expected to be released, showing a rise to 620,000. Additionally, Federal Reserve leaders will hold discussions following Chair Jerome Powell's speech at the Jackson Hole Economic Symposium, which may provide insights into future interest rate policies ahead of the September meeting.
Source: YAHOO
Reported about 2 months ago
As artificial intelligence reshapes Wall Street, Guggenheim analyst John DiFucci highlights key software sectors and companies set to thrive, particularly in cybersecurity and cloud services. He identifies Oracle as a strong candidate for growth stemming from AI developments, emphasizing its potential for impressive financial performance in the coming years.
Source: YAHOO
Reported about 2 months ago
Source: BARRONS
Reported about 2 months ago
Vinnie Johnson, a key player for the Detroit Pistons' legendary 'Bad Boys' team in the 1980s, transformed his $5 million career earnings in professional basketball into a fortune estimated at $500 million after retirement by founding a successful automotive parts company, Piston Automotive, that serves both domestic and Japanese automakers.
Source: YAHOO
Reported about 2 months ago
Synopsys recently reported strong fiscal Q3 earnings, with adjusted EPS of $3.43 and revenue of $1.53 billion, surpassing expectations. CEO Sassine Ghazi attributed the company's optimistic outlook, including a projected 15% revenue growth for the year, to the transformative impact of artificial intelligence across multiple markets, prompting customers to rethink their product strategies and driving demand for smarter silicon solutions.
Source: YAHOO
Reported about 2 months ago
Viking Holdings' stock fell following its Q2 earnings report, which revealed revenue of $1.59 billion and adjusted earnings per share of $0.37, both falling short of analyst expectations of $1.60 billion and $0.66 respectively.
Source: YAHOO
Reported about 2 months ago
Elon Musk's social media platform X, formerly known as Twitter, has been compelled to unveil its list of owners due to a lawsuit from former employees seeking arbitration payments. Notable figures among the nearly 100 stakeholders include Bill Ackman, Larry Ellison, and Sean Combs, alongside investment behemoth Fidelity, which has numerous entities holding stakes in the platform. The revelation follows a federal judge's decision to unseal this information, contrasting X's previous claims of investor confidentiality.
Source: YAHOO
Reported about 2 months ago
As Nvidia prepares to announce its Q2 earnings on August 28, analysts at KeyBanc maintain an Overweight rating on the stock, despite concerns over delays in the new Blackwell chip. KeyBanc analyst John Vinh noted that these delays will not significantly affect the upcoming earnings or guidance, as any backlog has been supplemented by orders for the earlier Hopper chip. Vinh expressed curiosity about Nvidia's ability to scale its new architecture in the coming year.
Source: YAHOO
Reported about 2 months ago
Intel Corporation's director Lip-Bu Tan has resigned from the board, citing time constraints after a poor quarterly report leading to significant stock declines and job cuts. Tan, who joined the board in 2022 to aid Intel's recovery in the competitive chip market, expressed continued support for the company despite stepping down.
Source: YAHOO