Reported about 2 months ago
Lowe's reported a 5.6% drop in sales to $23.59 billion for the second quarter, falling short of projections as consumers are postponing home improvement projects due to high interest rates and unfavorable weather. This marks the seventh consecutive quarter of declining sales. The company has adjusted its full-year sales forecast downward, expecting total sales between $82.7 billion and $83.2 billion, as both Lowe's and competitor Home Depot struggle with reduced consumer spending and market challenges.
Source: YAHOO
Reported about 2 months ago
US stocks opened slightly lower on Tuesday following an impressive eight-day winning streak. The S&P 500 remained close to flat after its longest series of daily gains since November, while the Dow Jones traded similarly. Anticipation builds ahead of Fed Chair Jerome Powell's upcoming speech, expected to set the stage for a potential interest rate cut in September. Meanwhile, Netflix shares soared to a record high amidst successful ad sales and upcoming popular content, continuing to recover from a previous slump.
Source: YAHOO
Reported about 2 months ago
In its latest report, Lowe’s exceeded earnings expectations but fell short on sales, prompting a revised full-year forecast amid a challenging economic environment and decreased DIY activity. Meanwhile, the European Union announced a reduction in tariffs on Teslas manufactured in China, lowering them from 20.8% to 9%, which also applies to other Chinese firms.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs chief economist Jan Hatzius asserts that consumers are in a stable position, supported by solid retail sales data and earnings reports from the second quarter. Despite some caution noted in lower-income segments and concerns about spending slowdowns in sectors like travel, he anticipates moderate growth in consumer spending, dismissing the potential impact of a September rate cut from the Federal Reserve.
Source: YAHOO
Reported about 2 months ago
Chinese electric vehicle manufacturer XPeng (XPEV) anticipates third-quarter revenue lower than analysts had expected, alongside missing June-quarter sales forecasts due to intense competition and reduced demand for its premium vehicle lineup. The company, however, expects to deliver between 41,000 and 45,000 vehicles in the third quarter, slightly up from the previous year, while planning to refresh its model range with new EVs over the next three years.
Source: YAHOO
Reported about 2 months ago
Taiwan Semiconductor Manufacturing Company (TSMC) has officially begun construction on its first European semiconductor plant in Dresden, Germany, with an investment of $11 billion, part of Germany's strategy to enhance domestic chip production amid rising geopolitical tensions. This facility, in collaboration with major European firms and supported by significant government subsidies, aims to help Europe secure its semiconductor supply, particularly for the automotive sector. Production is expected to commence by the end of 2027.
Source: YAHOO
Reported about 2 months ago
The European Commission has lowered the proposed tariff on Tesla vehicles produced in China from 20.8% to 9%, following an investigation into alleged subsidies. Tesla, considered a cooperating company in the probe, received a recalculated rate based on the specific subsidies it received. The Commission's findings suggested that while Chinese EV production benefits from extensive subsidies, Tesla's support is comparatively less. Other Chinese firms may also see reduced tariff rates under the new proposals, with varying rates based on their cooperation in the investigation.
Source: YAHOO
Reported about 2 months ago
Lowe's has revised its annual profit and sales forecasts downward due to weak consumer demand for home improvement products, similar to rival Home Depot. Economic factors such as high borrowing and mortgage rates have diminished new home sales, impacting store traffic. In the second quarter, Lowe's comparable sales fell 5.1%, exceeding analyst predictions. The company anticipates adjusted earnings per share of $11.70 to $11.90 for the year, down from previous estimates.
Source: YAHOO
Reported about 2 months ago
Stocks on Wall Street are poised for further gains as S&P 500 and Nasdaq futures show positive movement, aiming for a ninth consecutive day of wins. This comes ahead of Federal Reserve Chair Jerome Powell's anticipated dovish remarks at the Jackson Hole meeting, which are expected to pave the way for a potential rate cut in September.
Source: YAHOO
Reported about 2 months ago
Shares of Japan's Seven & i, owner of 7-Eleven, saw a reversal in value as investors speculated on regulatory hurdles surrounding Canadian company Couche-Tard's acquisition bid. The bid, which could create a leading convenience store giant in the U.S., initially boosted shares by nearly 23% but led to a 10.6% drop the following day amid concerns over antitrust challenges in both Japan and the U.S. Experts indicate that approval will be complex, given recent regulatory scrutiny of large mergers, and while the deal presents significant market opportunities, the road ahead seems challenging.
Source: YAHOO
Reported about 2 months ago
The defense sector is experiencing increased competition from private companies like Anduril, challenging established giants such as Lockheed Martin and Northrop Grumman. Analyst Jason Gursky from Citi underscores that this competition is beneficial for the ecosystem and necessary for market growth, as private firms contribute innovative solutions while focusing on market share within constrained defense budgets. This dynamic is seen as advantageous for both taxpayers and investors.
Source: YAHOO
Reported about 2 months ago
Microsoft's enduring presence among the top companies in the world over the last 25 years provides vital insights for stock market investors. A recent analysis from Bank of America highlights that the market leaders evolve with economic cycles, as seen through historical checkpoints of market highs and lows. While the current rebound is fueled by a few dominant tech giants like Microsoft and Apple, the shifting landscape suggests that future market leaders will likely emerge, reminding investors to stay adaptable and aware of market concentration trends.
Source: YAHOO
Reported about 2 months ago
The FAA announced mandatory inspections of Boeing 787 Dreamliners following a mid-air incident involving a LATAM Airlines flight that injured over 50 passengers due to an uncommanded movement of the captain's seat. The inspections will affect 158 U.S.-registered planes and 737 globally, focusing on potential issues with seat switch mechanisms. Meanwhile, Boeing has paused tests on its 777-9 model after discovering a damaged component during a maintenance check.
Source: YAHOO
Reported about 2 months ago
Edgar Bronfman Jr. has made a significant $4.3 billion bid to acquire Paramount Global by taking over National Amusements, which controls the media company. This move complicates a prior agreement with Skydance Media that also aimed to acquire Paramount. Bronfman's bid includes $2.4 billion in debt and equity alongside $1.5 billion to strengthen Paramount's balance sheet, introducing a competitive alternative as negotiations continue.
Source: YAHOO
Reported about 2 months ago
Republican presidential candidate Donald Trump has expressed openness to ending the $7,500 electric vehicle tax credit and potentially appointing Tesla CEO Elon Musk to an advisory role if elected. In a recent interview, he criticized tax incentives and indicated he might roll back the Biden administration's EV policies, emphasizing a preference for both electric and gasoline vehicles. Trump also mentioned plans to impose tariffs on vehicles made in Mexico and advocated for incentivizing automakers to build plants in the U.S.
Source: YAHOO
Reported about 2 months ago
Source: WSJ
Reported about 2 months ago
Nvidia, a leading player in the AI revolution, has seen significant stock growth and continues to thrive as demand for AI-focused data centers rises. With major companies like Amazon and Microsoft investing heavily in infrastructure, Nvidia is well-positioned to capture substantial revenue from its newly introduced Spectrum-X networking platform. This new product could provide a fresh revenue stream allowing data centers to maintain Ethernet-based systems while utilizing advanced AI. Despite facing competition, Nvidia's strategic moves may solidify its dominance in both chip and networking markets.
Source: YAHOO
Reported about 2 months ago
Asian stocks experienced an upsurge, buoyed by a strong performance on Wall Street as investors anticipate the Federal Reserve's potential move to cut interest rates. The MSCI Asia-Pacific index is set for a third consecutive day of gains, with favorable markets in Japan, South Korea, and Australia. Attention is now focused on China's loan prime rate and the Bank of Japan's policy outlook, as traders remain cautious ahead of the Fed's Jackson Hole symposium.
Source: YAHOO
Reported about 2 months ago
Intel's shares rose by 3.1% following the announcement that Texas Instruments would receive $1.6 billion in government funding through the CHIPS Act for semiconductor development. This news reassured investors about continued government support for the domestic chip industry, a crucial factor for Intel as it seeks to recover from a challenging year marked by a 57% drop in stock prices. Despite restructuring efforts and layoffs, Intel remains optimistic about future growth opportunities in semiconductor manufacturing.
Source: YAHOO
Reported about 2 months ago
Nvidia's stock rose 4.4% on Monday, fueled by Goldman Sachs reaffirming its positive outlook for the company amidst robust demand from cloud service providers, helping the chipmaker recover from earlier declines. With a gain of 31% over the past eight trading sessions, Nvidia is nearing its previous closing high, ahead of its upcoming earnings report scheduled for August 28.
Source: YAHOO
Reported about 2 months ago
Super Micro Computer is set to execute a 10-for-1 stock split, making its shares more accessible to investors. With AI-driven growth and a sizeable rise in share price over the past year, this split aims to lower the perceived cost per share from over $615 to approximately $62. The split marks the first for the company, and while it may generate significant trading activity and short-term volatility, it's advised that potential investors wait until after the split to evaluate buy opportunities at reasonable valuations.
Source: YAHOO
Reported about 2 months ago
Since Nvidia's IPO in 1999, a single share would have transformed into 480 shares due to multiple stock splits, resulting in a staggering increase in value from $12 to approximately $58,000 today. The immense growth is largely attributed to Nvidia's dominance in AI chip technology and the overall rise of cloud computing, which has significantly boosted demand for its products.
Source: YAHOO
Reported about 2 months ago
Chipotle Mexican Grill's shares dropped 7% after CEO Brian Niccol's sudden resignation to join Starbucks, raising concerns among investors about the company's future growth. Niccol led a successful turnaround strategy that significantly increased revenue and customer engagement, but his departure has led to uncertainty about Chipotle's ability to maintain its momentum. Despite this setback, interim CEO Scott Boatwright, who has been with the company since 2017, may be able to continue the existing strategic direction. Investors are advised to watch performance closely before making new investments.
Source: YAHOO
Reported about 2 months ago
Recent political campaigns have seen popular proposals from candidates like Kamala Harris and Donald Trump that, while attractive, could lead to adverse economic consequences. Harris's plans to cap food prices and provide housing subsidies may actually raise costs, while Trump's tariff increases and calls for dollar devaluation can negatively impact lower-income consumers. The article critiques these seemingly appealing ideas, highlighting how they may not withstand economic scrutiny.
Source: YAHOO
Reported about 2 months ago
The S&P 500 is experiencing its longest winning streak since November 2023, approaching its all-time high from July, attributed to positive economic indicators that may lead the Federal Reserve to lower interest rates in September. A recent FactSet report noted only 28 S&P 500 companies referred to a recession during earnings calls, indicating renewed investor confidence.
Source: YAHOO