Reported 6 days ago
Following the devastating impact of Hurricane Helene, President Biden has declared Georgia a federal disaster area. The hurricane has resulted in 25 fatalities and left over 370,000 residents without power. Analysts, Seana Smith and Madison Mills, discussed the government's emergency response and the administration's recovery plans for the affected regions.
Source: YAHOO
Reported 6 days ago
Cerebras, a startup focused on AI chips and a competitor to Nvidia, has submitted its paperwork for an Initial Public Offering (IPO) and aims to list on the Nasdaq under the symbol 'CRBS'.
Source: YAHOO
Reported 6 days ago
Nike is set to release its fiscal first quarter earnings on Tuesday, the first report since announcing Elliott Hill as the new CEO, replacing John Donahoe. With revenue expected to be significantly lower at $11.65 billion, down from $12.94 billion a year ago, investors are focusing on Hill's turnaround strategy as the company faces declining sales growth. Analysts predict modest expectations for performance in upcoming quarters, emphasizing the need for innovative product improvements under Hill's leadership to regain investor confidence.
Source: YAHOO
Reported 6 days ago
The latest JOLTS report shows a cooling job market, with a decrease in worker resignations and hiring rates, indicating workers’ hesitance to switch jobs. Kimberly Forrest describes JOLTS data as 'aspirational for companies,' as many job openings remain unfilled due to qualification mismatches. Despite these challenges, the declining figures could signal a shift in labor market dynamics.
Source: YAHOO
Reported 6 days ago
The ongoing dockworkers' strike at East and Gulf Coast ports is severely impacting the flow of consumer goods, as noted by Stamatis Tsantanis, CEO of Seanergy Maritime and United Maritime. He highlighted that this strike, coupled with other disruptions, is exacerbating challenges in the US supply chain, leading to estimated losses of up to $7.5 billion per week. The situation is detrimental to the economy, and while workers leverage this moment for negotiations, resolutions seem distant.
Source: YAHOO
Reported 6 days ago
CNN has implemented a paywall, requiring some users to pay $3.99 a month for access to its content as a strategy to boost digital revenue. This move aligns with a broader trend among news organizations transitioning from traditional TV to digital platforms. Subscribers will enjoy unlimited access to articles, documentaries, exclusive features, and a reduced number of ads, with plans for expansion based on user feedback.
Source: YAHOO
Reported 6 days ago
The ongoing surge in gold prices, reaching a record of $2,685.42 per ounce, has significantly dampened physical demand in major markets. Retail consumers are selling off their holdings to lock in profits amidst rising costs, leading to a remarkable decline in demand, particularly in India, Europe, and China. Analysts note that while some online marketplaces are seeing increased purchases, overall interest in gold, both physical and ETF, remains subdued.
Source: YAHOO
Reported 6 days ago
In light of the recent economic indicators, including the September ISM Manufacturing PMI and Job Openings data, economists warn that the uncertainty surrounding the upcoming presidential election is creating a 'soft patch' in the economy, with companies pausing spending and hiring. S&P Global's Chris Williamson highlights that while the immediate outlook appears cautious, there is growing confidence for the future, potentially opening doors for Federal Reserve rate cuts.
Source: YAHOO
Reported 6 days ago
Tesla is expected to announce strong third-quarter deliveries, estimated at around 461,000 electric vehicles, which could further bolster its stock value that has already risen over 20% in the past month. Analysts are optimistic, with some raising their delivery forecasts and suggesting that this quarter could defy earlier concerns over growth rates. Positive performance in China and the upcoming Robotaxi event are also seen as potential catalysts for continued gains.
Source: YAHOO
Reported 6 days ago
Goldman Sachs has downgraded Kering to a Sell rating due to ongoing economic challenges in China, a crucial market for luxury goods, despite recent government stimulus aimed at revitalizing the economy.
Source: YAHOO
Reported 6 days ago
Walt Bettinger, CEO of Charles Schwab, will retire at the end of the year after 16 years of leadership, marked by significant growth and a challenging banking crisis in 2023. He will be succeeded by Schwab President Rick Wurster, while Bettinger will continue as executive co-chairman. During his tenure, Schwab expanded its assets ninefold and adapted to industry changes such as zero commission trading. However, the recent banking crisis raised concerns among investors, leading to a dip in the company's stock.
Source: YAHOO
Reported 6 days ago
Michael Dell, the CEO and founder of Dell Technologies, has sold over $1.2 billion worth of company shares, bringing his total sales for September to approximately $2.3 billion with around 10 million shares offloaded.
Source: YAHOO
Reported 6 days ago
Barclays analysts have observed an increased availability of the newly launched iPhone 16, suggesting weak demand compared to previous years. As a result, they have set an Underweight rating on Apple stock, with a price target of $186.
Source: YAHOO
Reported 6 days ago
Over 45,000 dockworkers are striking at ports on the East and Gulf Coasts, prompting discussions on what actions the Biden administration can take to resolve the situation. Jonathan Gold from the National Retail Federation highlights that while Biden can invoke the Taft-Hartley Act to push for negotiations, he prefers a collective bargaining approach. A prolonged strike could severely disrupt supply chains and affect millions, making it crucial for ports to resume operations swiftly.
Source: YAHOO
Reported 6 days ago
The US job openings surged by 329,000 to 8.04 million in August, surpassing expectations, while the manufacturing sector faced a contraction with an ISM Manufacturing PMI of 47.2 for September, indicating challenges in the industry.
Source: YAHOO
Reported 6 days ago
Around 45,000 US dockworkers have gone on strike after failed contract negotiations, affecting operations at 36 ports from Maine to Texas. This labor action could significantly disrupt the availability of consumer goods and have broader economic implications.
Source: YAHOO
Reported 6 days ago
In a recent update, Stellantis is facing challenges as it extends production halts for its electric Fiat due to low demand, while also recalling nearly 200,000 hybrid Jeeps due to fire risks. Conversely, shares of Nio are up, marking significant growth with a record-high in deliveries for September and the third quarter. Additionally, Charles Schwab announces the retirement of CEO Walt Bettinger, effective end of 2024, with his successor named as the current president, Rick Wurster.
Source: YAHOO
Reported 6 days ago
Super Micro Computer (SMCI) announced that it will commence trading on a post-split basis following a ten-for-one stock split, effective after the closing bell on Monday. Morning Brief hosts discussed this move alongside other tech companies that have implemented stock splits this year.
Source: YAHOO
Reported 6 days ago
More than 45,000 dockworkers went on strike this morning, shutting down ports from Maine to Texas. This marks the first coast-wide strike for the International Longshoremen's Association since 1977.
Source: YAHOO
Reported 6 days ago
As the fourth quarter begins, the major stock indexes experienced a sluggish start, with all three major indexes (Dow Jones, S&P 500, and NASDAQ) opening in the red. This follows a record high close for both the Dow and S&P on Monday. Yahoo Finance’s Brad Smith and Jared Blikre analyze the market's opening performance.
Source: YAHOO
Reported 6 days ago
CVS is undergoing a strategic business review and plans to lay off nearly 3,000 employees, prompted by potential activist pressure from major shareholder Glenview Capital Management, as reported by the Wall Street Journal.
Source: YAHOO
Reported 6 days ago
Nike (NKE) is set to release its fiscal first quarter results on Tuesday, marking the final report under CEO John Donahoe before Elliott Hill takes over on October 14. Investors are eager to see what insights can be gleaned from the earnings as they prepare for the transition in leadership. Morning Brief hosts Brad Smith and Seana Smith discuss what to watch for in this upcoming report.
Source: YAHOO
Reported 6 days ago
Despite warnings from economists about the detrimental effects of Donald Trump's proposed tariffs, deportation plans, and changes to the Affordable Care Act, many voters still support him. Trump's intentions could lead to higher costs, economic disruption, and increased healthcare expenses, yet he remains competitive in the race against Kamala Harris. This article explores how voters may be ignoring the potential negative impacts of Trump's policies, which could financially harm them in the long term.
Source: YAHOO
Reported 6 days ago
On Tuesday, traders are reacting to a significant strike by around 45,000 port workers along the East and Gulf Coasts, marking the first such strike in almost 50 years. Meanwhile, the S&P 500 and Dow Jones Industrial Average reached record highs as they closed out September in the green. Wall Street is also anticipating key economic data, including the JOLTS report and PMI, which could provide insights into the Federal Reserve's future actions.
Source: YAHOO
Reported 6 days ago
US stock futures began the new quarter with mixed signals, as Dow futures slipped by 0.2%, while S&P 500 futures remained steady just below neutral levels. Investors are closely watching for upcoming job and manufacturing data that could impact predictions about interest rate cuts. Federal Reserve Chair Jerome Powell's recent remarks hinted at a slower approach to rate cuts, leading to reduced bets from traders. Meanwhile, ongoing industrial strikes and geopolitical tensions in the Middle East add further uncertainty to the market outlook.
Source: YAHOO