Reported about 2 months ago
Source: BARRONS
Reported about 2 months ago
S&P Global has changed its outlook for Warner Bros Discovery from 'stable' to 'negative', citing shrinking profits from cable TV and high debt levels amid a challenging advertising market. The downgrade comes as the company faces difficulties following the loss of its NBA broadcasting rights, which analysts believe will further weaken its linear TV segment and impact its overall cash flow. Warner Bros Discovery is also suing the NBA over its denied bid for the rights.
Source: YAHOO
Reported about 2 months ago
In a recent discussion, economist Paul Krugman reflects on Vice President Kamala Harris's economic policies, particularly her proposal to ban price gouging on food. He expresses skepticism about the relevance of price gouging in recent inflation trends while noting that inflation has largely been contained to around the Federal Reserve's target. Krugman suggests there is a risk of an economic slowdown but does not predict an impending recession. He believes current economic indicators favor Harris heading into the election, provided there isn’t a significant rise in unemployment.
Source: YAHOO
Reported about 2 months ago
Jefferies Financial Group has filed a lawsuit against Rubicon Technologies for allegedly receiving restricted shares worth only $40,000 instead of the promised $7 million underwriting fee. The case underscores the decline in the SPAC market, with Rubicon's stock significantly dropping post-merger. Jefferies asserts that the shares it received were not registered with the SEC, hindering their trade. Rubicon, once recognized as the 'Uber of Trash,' has faced severe stock devaluation after being acquired in a 2022 SPAC deal.
Source: YAHOO
Reported about 2 months ago
UBS Asset Management announced it will divest its Quantitative Investment Strategies (QIS) business to Manteio Partners LLC. The QIS portfolio management team, handling funds worth about $1.5 billion, will join Manteio as a separate entity. The deal is expected to finalize in Q4 of 2024, following UBS's recent decisions to liquidate a large real estate fund and sell Credit Suisse's U.S. mortgage servicing business.
Source: YAHOO
Reported about 2 months ago
Rocket Lab has successfully delivered two spacecraft to NASA for a launch mission to Mars, while the upcoming 2025 Lincoln Navigator is set to introduce luxurious features including 'spa mode' and in-vehicle gaming, with a price tag around $100,000. Additionally, the Burning Man festival has not sold out for the first time since 2011, as it prepares to start on August 25.
Source: YAHOO
Reported about 2 months ago
Vice President Kamala Harris has announced a series of economic proposals aimed at addressing food prices, housing, taxes, and medical costs, asserting that these measures will empower the middle class. Harris's plans include imposing federal limits on food price increases, constructing 3 million new housing units, enhancing drug price negotiations, canceling billions in medical debt, and expanding tax credits for families. This marks her first major policy initiative following President Biden's withdrawal from the race.
Source: YAHOO
Reported about 2 months ago
CFRA Research's Senior Equity Analyst Angelo Zino discusses the current trends in the tech sector, highlighting that despite its leading position in the market recovery, it has been the worst performer since July. Zino anticipates ongoing volatility in the tech stocks over the next few months, driven by earnings and significant product launches from companies like Nvidia and Apple. However, he advises investors to temper expectations for extreme movements in the near term.
Source: YAHOO
Reported about 2 months ago
The Biden administration is increasing salaries for Head Start teachers to address workforce shortages and improve retention. Under new regulations, large operators will need to ensure their staff earn wages equivalent to those in local school districts by 2031, along with offering healthcare benefits. With many teachers leaving for better-paying roles, this initiative aims to strengthen the quality of early childhood education and provide fairer compensation for educators, especially women of color who represent a significant part of the workforce.
Source: YAHOO
Reported about 2 months ago
Nykia Wright, the interim CEO of the National Association of Realtors (NAR), discusses the organization’s efforts to regain the trust of its members after a settlement related to commission lawsuit allegations. Acknowledging that some members are dissatisfied with the settlement terms, Wright highlights NAR's focus on improving communication and serving the diverse needs of its membership. She emphasizes the importance of active engagement to strengthen the association and underscores her commitment to lead NAR in navigating the current challenges faced by the real estate industry.
Source: YAHOO
Reported about 2 months ago
B. Riley Financial's co-founder and co-CEO, Bryant Riley, has proposed taking the firm private with a bid of $7 per share, valuing the investment bank at $212 million. This comes after a tumultuous week for the company, which witnessed its market value plummet following concerns related to its investment in Franchise Group. Riley's offer, reflecting a 39% premium on its last stock close, will be reviewed by a special committee of independent board directors.
Source: YAHOO
Reported about 2 months ago
A bipartisan group of US lawmakers has reached out to Meta Platforms CEO Mark Zuckerberg regarding reports of illegal drug advertisements on Facebook and Instagram. These ads reportedly lead users to online marketplaces selling various substances, raising concerns about Meta's ad policies in handling such content.
Source: YAHOO
Reported about 2 months ago
Vice President Kamala Harris has outlined her economic plan, focusing on key initiatives for her first 100 days. She aims to tackle the housing crisis by building three million new units and introducing tax incentives for first-time home buyers. Additionally, Harris plans to implement a federal ban on food price gouging and reduce prescription drug costs, particularly for items like insulin.
Source: YAHOO
Reported about 2 months ago
In a recent episode of The Ramsey Show, a 47-year-old couple expressed concerns about their retirement savings, having $182,000 saved amidst a $200,000 income. Dave Ramsey reassured them that they are on track and highlighted that many people end up wealthier than initial calculations suggest. He emphasized the importance of consistent saving, paying off their mortgage, and managing expectations, suggesting that with disciplined savings, they could potentially surpass the $1 million mark in retirement.
Source: YAHOO
Reported about 2 months ago
Shares of Applied Materials saw a decline even after surpassing expectations for third quarter earnings and revenue. Morning Brief Hosts Seana Smith and Brad Smith delve into the earnings report, discussing the reasons behind the investors' disappointment.
Source: YAHOO
Reported about 2 months ago
In a recent discussion, strategists Drew Pettit and Chris Versace highlighted that market sentiment is improving with consumer confidence readings surpassing expectations. They emphasized a potential easing of recession fears, noting that while economic softening may occur, it's not anticipated to extend into a prolonged downturn. This outlook is further supported by forecasts of Federal Reserve rate cuts, prompting investment strategies that favor growth stocks along with rate-sensitive sectors.
Source: YAHOO
Reported about 2 months ago
Nikola has recently reported record second-quarter revenue, breaking a nine-day stock price downturn, and remains optimistic about 2024 being its best year yet. However, the electric truck manufacturer faces severe financial challenges, with only enough cash to last until year-end without further share dilution. With ongoing issues related to its founder and the long-awaited delivery of fuel cell trucks, Nikola's survival remains uncertain as it strives to meet growing production demands while navigating dwindling resources.
Source: YAHOO
Reported about 2 months ago
The recent market rebound following a significant global sell-off has sparked debate over its sustainability. While encouraging economic data and positive earnings reports have fueled optimism, analysts question whether this rally is a true recovery or merely a temporary upswing often referred to as a 'dead cat bounce.' Yahoo Finance's Jared Blikre delves into the current market situation to provide insights on its longevity.
Source: YAHOO
Reported about 2 months ago
China's central bank has issued new gold import quotas for several banks after a two-month pause, anticipating a rebound in demand despite high prices. Gold prices have surged 21% this year, reaching a peak of $2,500.99 per ounce. While jewelery demand remains weak, investment demand is reported to be healthy. Analysts suggest that if Chinese demand picks up, it could further drive prices higher, although current low premiums indicate sluggish market activity.
Source: YAHOO
Reported about 2 months ago
XPO has resumed its efforts to sell its European transportation unit, which generated $3.1 billion in revenue over the past year and is estimated to be valued at about $2 billion. The company had originally paused the sale due to unfavorable market conditions in late 2022, but it is now pursuing divestiture as part of a long-term strategy to streamline its operations and enhance shareholder value.
Source: YAHOO
Reported about 2 months ago
Germany's governing coalition has reached an agreement on the 2025 budget after prolonged negotiations marred by infighting between the three parties involved. Chancellor Olaf Scholz's administration has faced pressure over financial issues, particularly regarding debt management and spending priorities. The finalized budget includes increased funding for defense and affordable housing while addressing a projected financing gap, now reduced to 12 billion euros. The proposal will now be presented to lawmakers for approval.
Source: YAHOO
Reported about 2 months ago
Stocks ended higher on Friday, with the S&P 500 and Nasdaq erasing early August losses and achieving their best week of the year. Key economic data indicated rising consumer sentiment and steady inflation expectations, easing earlier recession fears. Notably, Walmart's strong earnings supported confidence in consumer spending, while expectations for Federal Reserve rate cuts shifted to a 66% probability of a modest 0.25% reduction next month.
Source: YAHOO
Reported about 2 months ago
Consumer sentiment experienced its first rebound in August after five months of decline, as indicated by the University of Michigan's survey, which reported an increase to 67.8 from 66.4 in July. This rise comes despite recent volatility in the stock market and concerns surrounding the U.S. economy. Positive data showing a decrease in inflation and steady consumer spending contributed to the change in sentiment. The survey also highlighted a shift in political sentiment, with increased confidence in Vice President Kamala Harris among Democrats.
Source: YAHOO
Reported about 2 months ago
According to Oppenheimer's Owen Lau, the chances of passing crypto legislation this year are only 20%. He suggests that recent market fluctuations are largely influenced by macroeconomic factors, noting the use cases for blockchain technology in speeding up and reducing the costs of global transactions. While he expresses optimism for regulatory clarity in 2025, he remains skeptical about significant legislative advancement in the current year.
Source: YAHOO
Reported about 2 months ago
Rivian Automotive has paused the production of its electric delivery vans for Amazon due to supply chain constraints and shortages of auto parts, raising concerns about the potential impact on Rivian's future earnings.
Source: YAHOO