Reported about 2 months ago
Intuit has forecasted its fiscal 2025 revenue to surpass Wall Street expectations, driven by a surge in demand for its AI-enhanced financial management tools. Following recent price hikes for products like QuickBooks, the company's shares rose by 2%. CEO Sasan Goodarzi highlighted robust customer growth in QuickBooks online services. Despite announcing layoffs affecting 10% of its workforce, Intuit plans to focus on hiring for AI-related roles. The company anticipates revenue between $18.16 billion and $18.35 billion, slightly above analysts' estimates.
Source: YAHOO
Reported about 2 months ago
Workday (WDAY) announced its second quarter adjusted earnings at $1.75 per share, exceeding the anticipated $1.64. With revenues hitting $2.09 billion, it aligned closely with the estimate of $2.08 billion. The company maintained its full-year subscription revenue guidance between $7.70 billion and $7.73 billion, and also approved a $1.0 billion share buyback.
Source: YAHOO
Reported about 2 months ago
Market expert Julian Brigden from Macro Intelligence 2 Partners warns that a 50 basis point rate cut by the Federal Reserve could guarantee a recession, as it may lead to lost momentum in the labor market. He emphasizes that cutting rates could be statistically risky given the eight recessions that have occurred after past tightening cycles, making a soft landing increasingly unlikely.
Source: YAHOO
Reported about 2 months ago
This week, U.S. mortgage rates have decreased slightly, with the 30-year fixed-rate mortgage at 6.46% and the 15-year mortgage at 5.62%, according to Freddie Mac. Yahoo Finance's Dani Romero discusses the implications of these changes for prospective home buyers and the overall housing market.
Source: YAHOO
Reported about 2 months ago
The major US stock indices closed lower on Thursday, with the Nasdaq Composite dropping by 1.67%. Investors are now looking ahead to Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole Economic Symposium, anticipating potential impacts on market volatility.
Source: YAHOO
Reported about 2 months ago
Jensen Huang, CEO of Nvidia, has been selling about $14 million in stock nearly every day, prompting concerns about the company's corporate governance and his succession plan. Despite his substantial stake in the company, experts are questioning whether his ongoing stock sales indicate a lack of confidence in Nvidia's future performance. Investors are seeking transparency and a clearer succession strategy, especially as Huang transforms into one of the wealthiest individuals in technology amidst a sharp rise in Nvidia's stock value.
Source: YAHOO
Reported about 2 months ago
U.S. stocks experienced a downturn on Thursday, with the tech-heavy Nasdaq leading the losses, down nearly 1.7%, as investors anticipate a critical speech from Federal Reserve Chair Jerome Powell. The S&P 500 fell by 0.9%, while the Dow Jones slid 0.5%. The markets reacted to labor market data indicating initial jobless claims rose slightly, raising concerns about potential Federal Reserve rate cuts. Investors are now cautious, moderating previous expectations for significant rate reductions following recent economic updates.
Source: YAHOO
Reported about 2 months ago
In response to false claims that Kamala Harris plans to tax unrealized capital gains, the article clarifies that her support aligns with the Biden administration's proposal for a wealth tax targeting individuals with over $100 million in wealth. The proposed budget aims to impose a minimum 25% tax on their income, along with other tax reforms designed to address wealth inequality and ensure that the super-rich pay their fair share.
Source: YAHOO
Reported about 2 months ago
Toronto-Dominion Bank (TD) has allocated an additional $2.6 billion as part of an investigation into anti-money laundering practices led by US regulators, bringing its total reserves for potential US compliance fines over $3 billion. The bank has also divested a portion of its stake in Charles Schwab.
Source: YAHOO
Reported about 2 months ago
Advance Auto Parts experienced a significant decline in its stock value following its second quarter earnings report, which included revenues of $2.68 billion and adjusted earnings per share of $0.75, both falling short of expectations. Additionally, the company revised its full-year 2024 sales guidance downward and announced the sale of its Worldpac division to the Carlyle Group.
Source: YAHOO
Reported about 2 months ago
Walmart is enhancing its Walmart+ subscription program by offering members a 25% discount on Burger King orders and free Whoppers every three months. This initiative aims to compete with Amazon Prime by providing cost-effective dining options for busy lifestyles. Members must link their Walmart+ and Burger King accounts to access these deals, which will begin in September.
Source: YAHOO
Reported about 2 months ago
The IRS has announced new rules affecting required minimum distributions (RMD) from inherited IRAs, changing the starting age from 72 to 73, meaning those born in 1951 must take their first distribution by April 1, 2025. Experts warn that most non-spouse beneficiaries will need to accelerate their withdrawals, a strategy that, while increasing tax liabilities in the short term, may help avoid higher tax brackets later.
Source: YAHOO
Reported about 2 months ago
Nvidia (NVDA) shares dipped by 3% as Wall Street analysts maintain bullish forecasts ahead of the earnings announcement next week. Despite a recent 30% increase in stock value, analysts expect Nvidia to exceed expectations driven by strong demand for Hopper GPUs, although delays in the next-gen Blackwell chips could impact future orders. With a strong outlook from major firms like KeyBanc and Citi, most analysts remain optimistic, citing robust AI infrastructure spending as a key factor.
Source: YAHOO
Reported about 2 months ago
In today's trading, U.S. stocks experienced a decline led by the technology sector, with the S&P 500 down about 0.9% and the Nasdaq falling nearly 1.7% amidst investor anticipation for Federal Reserve Chair Jerome Powell's upcoming speech at the Jackson Hole symposium. Key tech stocks like Nvidia suffered losses, while the labor market showed signs of cooling, contributing to discussions around potential interest rate cuts by the Fed next month.
Source: YAHOO
Reported about 2 months ago
As inflation persists and pandemic savings diminish, many Americans are relying heavily on credit, leading to a surge in credit card debt. Experts highlight that stagnating wages and rising interest rates contribute to this financial strain, leaving households struggling to keep up with increasing costs.
Source: YAHOO
Reported about 2 months ago
Bentley is shifting its focus towards hybrid vehicles and targeting a younger demographic as it seeks to recover from a downturn in sales. The new Continental GT plug-in hybrid, set to launch in late 2024, aims to appeal to a wider audience with its blend of luxury and performance. CEO Mike Rocco noted that while buyers are accepting of hybrids, concerns about fully electric vehicles remain. Bentley plans to continue producing hybrid models into the 2030s while also refreshing its offerings to engage a younger clientele who prefer customized options.
Source: YAHOO
Reported about 2 months ago
Jennifer Lopez is divorcing Ben Affleck after two years of marriage, reigniting interest in the challenges of relationships. According to studies, early marriage is particularly risky, with divorce rates around 10% in the first two years and around 20% in the first five years. Common reasons for divorce include lack of commitment, infidelity, and financial issues. Experts suggest key ingredients for lasting marriages include mutual respect, shared goals, and effective communication, emphasizing that evolving together is crucial for overcoming challenges.
Source: YAHOO
Reported about 2 months ago
Classic cars can represent valuable investments, but recent auction results from the 2024 Monterey Car Week showed sales of $392 million, falling short of the expected $459 million. Yahoo Finance's senior autos reporter Pras Subramanian discusses whether vintage cars should be considered a viable asset class for investments.
Source: YAHOO
Reported about 2 months ago
Brent Thill, a senior analyst at Jefferies, emphasizes that no major tech companies have yet to see significant success or revenue from their AI investments, despite heavy capital expenditure from firms like Microsoft, Meta, and Google. He points out that current AI initiatives across the industry are still early-stage, indicating that effective advancements are yet to emerge.
Source: YAHOO
Reported about 2 months ago
As the labor market cools, finding employment has become increasingly challenging. Career coach Phoebe Gavin highlights that job searches are taking longer and offer less room for salary negotiation, leading to a sense of pessimism among job seekers, particularly in white-collar roles. To combat these issues, she advises leveraging professional networks, expanding connections, enhancing skills, and building a strong reputation.
Source: YAHOO
Reported about 2 months ago
Major indices including the Dow Jones, S&P 500, and Nasdaq are down as investors wait for Federal Reserve Chairman Jerome Powell's address at the Jackson Hole Economic Symposium. Meanwhile, mortgage rates have decreased, with the average 30-year fixed rate falling to 6.46%, its lowest since May 2023.
Source: YAHOO
Reported about 2 months ago
Mortgage rates falling below 6% are expected to attract significant numbers of homebuyers back into the market, according to Zillow's chief economist Skylar Olsen. Recent data from the National Association of Realtors shows a slight increase in existing home sales, but there's evidence of reduced competition in the housing market, potentially making it a better environment for buyers, particularly in the South.
Source: YAHOO
Reported about 2 months ago
Source: BARRONS
Reported about 2 months ago
Gap Inc. has officially changed its stock trading symbol from 'GPS' to 'GAP' as part of a symbolic shift under CEO Richard Dickson, who aims to revitalize the brand while respecting its heritage. This change coincides with the one-year anniversary of Dickson's leadership and reflects the company's strategy to become more competitive and culturally relevant in today's market. Since his appointment, Gap has seen a significant increase in share price and has made strides in improving its branding and product offerings.
Source: YAHOO
Reported about 2 months ago
Reports indicate that employer healthcare costs could rise by 8-9% in 2025, partly due to the increasing use of GLP-1 medications for diabetes and weight management. Aon reports a significant jump in GLP-1 costs, costing employer health plans $6.25 per member per month in 2023, marking a 224% increase from 2022. The Business Group on Health also highlights that rising drug costs, including those for GLP-1s, are driving healthcare expenses up, with past cumulative increases of 50% since 2017.
Source: YAHOO