Reported about 2 months ago
A recent BloombergNEF analysis reveals that the US has overtaken China as the top destination for climate-tech financing in the first half of 2024, despite a drop in total investments. The US attracted $6.7 billion, contrasting with China's $5.1 billion, emphasizing the influence of US climate policies like the Inflation Reduction Act in driving investor confidence amid a global downturn in such investments.
Source: YAHOO
Reported about 2 months ago
Borr Drilling Ltd. anticipates that nearly a third of the global fleet of shallow-water rigs will retire soon due to aging, which is expected to increase daily leasing rates. Approximately 30% of these rigs are over 35 years old, and as the offshore drilling market gains momentum with rising crude prices, Borr aims for higher day rates next year to boost cash flow. With its fleet averaging only 7 years in age, Borr is positioned as a key player in this sector.
Source: YAHOO
Reported about 2 months ago
Institutional demand for cryptocurrency skyrocketed in the second quarter of 2024, with significant investments from major Wall Street firms like Goldman Sachs, which reported $418 million in crypto exposure. This includes substantial shares in BlackRock's iShares Bitcoin Trust, reflecting the growing mainstream adoption of crypto amid an election year. The popularity of bitcoin ETFs has also seen notable investment inflows, suggesting a strong interest from financial institutions despite economic uncertainties.
Source: YAHOO
Reported about 2 months ago
In a recent episode of Stocks in Translation, Michael Gayed from The Lead-Lag Report discusses how investors can diversify portfolios beyond the major S&P 500 companies. He highlights the role of small-cap stocks, emphasizing that many are undervalued, and encourages investors to consider them as crucial to their strategy.
Source: YAHOO
Reported about 2 months ago
Wells Fargo's head of global investment strategy, Paul Christopher, anticipates a stock market rally reminiscent of 1995 due to declining inflation and strong economic growth. He suggests a series of Federal Reserve rate cuts could lead to significant stock gains, especially in financial and tech sectors, despite expected short-term volatility from geopolitical tensions and the upcoming presidential election.
Source: YAHOO
Reported about 2 months ago
U.S. corporate bond spreads are rebounding as recent strong economic data raises hopes for interest rate cuts and calms recession fears. Investment-grade bond spreads decreased by 3 basis points to 105 basis points, while junk bond spreads also tightened by 3 basis points to 346. This recovery follows concerns from earlier weak economic reports, as better indicators, including slowing consumer price increases and unexpected growth in retail sales, boost investor confidence and suggest the Federal Reserve might lower rates soon.
Source: YAHOO
Reported about 2 months ago
Americanas SA, a Brazilian retail giant, witnessed a significant drop in its stock prices, plummeting nearly 73% after the expiration of a lock-up period for creditors post its major debt restructuring. The company, which declared a staggering loss related to a previous accounting fraud scandal, has seen its market cap shrink from a peak of 15 billion reais to 3.2 billion reais. Executives reported a loss of 2.3 billion reais for 2023 and announced the suspension of new financial guidance while restructuring its operations.
Source: YAHOO
Reported about 2 months ago
In response to the FDA's recent rejection of its MDMA-based PTSD treatment, Lykos Therapeutics announced it will lay off about 75% of its employees, approximately 100 individuals. The company's founder, Rick Doblin, is also stepping down from the board. Lykos plans to appoint David Hough to lead the clinical development of its MDMA capsules and aims to resubmit its application to the FDA for approval.
Source: YAHOO
Reported about 2 months ago
While the number of ATMs in the U.S. has decreased significantly due to declining cash use, companies like NCR Atleos and Diebold Nixdorf are finding new opportunities through partnerships with digital banking services and expanding into international markets. NCR Atleos has recently struck deals to place ATMs in various retailers and is focusing on digital banking customers who still require cash access. Similarly, Diebold Nixdorf is enhancing its footprint in the U.K. and other cash-heavy markets to adapt to changing consumer banking needs.
Source: YAHOO
Reported about 2 months ago
In response to a series of high-end thefts, including a June heist at a Chanel store that resulted in over $60,000 in luxury goods stolen, Fairfax County police have arrested key suspects, including the getaway driver, and are actively pursuing additional leads. As organized retail crime rises, the county has seen a doubling in reported thefts from 2021 to 2023, prompting law enforcement to enhance their focus on making arrests alongside ongoing collaboration with retailers to gather crucial evidence.
Source: YAHOO
Reported about 2 months ago
The US stock market surged as the S&P 500 and Nasdaq fully recovered from previous losses after strong retail sales and favorable jobless claims data suggested a resilient economy. Walmart's strong earnings report also contributed to the rally, with both indices seeing gains of over 1.6%. This marks a significant turnaround from earlier fears of a potential recession.
Source: YAHOO
Reported about 2 months ago
Despite concerns over recession, Walmart has reported robust quarterly sales, with consumers continuing to seek low-cost groceries and even splurging on electronics. The latest retail sales data also shows a significant increase, suggesting that shoppers are still spending, particularly on essentials. Walmart has raised its sales and profit forecasts, indicating confidence in consumer demand.
Source: YAHOO
Reported about 2 months ago
Edgar Bronfman Jr., heir to the Seagram fortune, is preparing to make an offer for Paramount Global, possibly igniting a bidding war for the entertainment company that owns CBS and MTV. His proposal may include acquiring National Amusements, the firm controlling Paramount, and diversifying investments in the company itself. Paramount recently agreed to merge with Skydance Media, but Bronfman's group is positioning its offer as a more attractive option for investors, particularly as it would avoid the dilution from the Skydance deal.
Source: YAHOO
Reported about 2 months ago
The stock market is experiencing a positive rally, driven by better-than-expected retail sales and jobless claims. Key players like Walmart and Ulta Beauty have seen significant increases in their stock prices, while AT&T experienced a decline. Notable gains were also observed in tech stocks, with Nvidia and Tesla showing substantial boosts. The S&P 500 has risen by 1.7% overall.
Source: YAHOO
Reported about 2 months ago
Gold prices experienced volatility as traders processed recent US retail spending data, which revealed the strength of the economy. This information has implications for the Federal Reserve's anticipated interest rate cuts next month. While positive economic indicators alleviated concerns about a potential economic downturn, they also raised questions about the Fed's rate-cutting strategy. Gold has seen a 19% rise this year, fueled by optimism for monetary easing and increased central bank purchases, with spot gold reaching $2,457.81.
Source: YAHOO
Reported about 2 months ago
Canadian Labour Minister Steven MacKinnon has denied CN Rail's request for binding arbitration in a labor dispute with the Teamsters union, emphasizing that both parties must negotiate in good faith.
Source: YAHOO
Reported about 2 months ago
JPMorgan Chase & Co. research indicates that purchasing high-grade US corporate bonds during market dips is profitable approximately 70% of the time. Analyzing past market trends, the strategists suggest that most selloffs represent buying opportunities, although there have been instances where the market continued to decline after initial purchases. This historical insight offers valuable context for investors, although identifying the right timing remains challenging.
Source: YAHOO
Reported about 2 months ago
Elon Musk labeled Minnesota Governor Tim Walz as 'the worst' after his selection as Vice President Kamala Harris's running mate in the 2024 election. Despite criticism from Republicans regarding his military record and handling of the pandemic, a recent poll indicates that Walz's favorability has increased, particularly among Democratic and young voters, positioning him favorably compared to Republican candidate J.D. Vance. Harris leads in polling ahead of Trump, reflecting a positive trend for her campaign.
Source: YAHOO
Reported about 2 months ago
The new Defiance Daily Target 1.75X Long MSTR ETF, launched by Defiance, aims for daily leveraged returns on MicroStrategy Inc., a stock known for its extreme volatility, making it potentially the most volatile ETF in the US market. This product joins a growing trend of riskier ETFs attracting significant investment amidst a surge in popularity, despite warnings from regulators about the associated risks of such leveraged funds.
Source: YAHOO
Reported about 2 months ago
A Deutsche Bank executive reports that the anti-ESG sentiment affecting investment strategies is waning. Markus Mueller, chief investment officer for ESG, notes an increase in investments within sectors previously seen as off-limits, as regulations evolve to include transition strategies for fossil-fuel assets. Despite challenges, he emphasizes that ESG investment principles are becoming more embedded in various markets globally, with increasing momentum towards clean energy investment.
Source: YAHOO
Reported about 2 months ago
The family of Jeunelle Robinson, a South Carolina teacher killed by a falling utility pole, will receive a $30 million settlement from Dominion Energy and Comporium. The incident occurred when a truck pulled a drooping line, causing the pole to collapse and strike Robinson who was on a lunch break. The settlement aims to prevent a trial and highlights the need for better inspection of aging utility infrastructure. The family plans to establish a fund in Robinson's name to support teachers.
Source: YAHOO
Reported about 2 months ago
After the largest sell-off in US equities since the Covid-19 pandemic, trend-following quant funds are poised to return to the stock market. Systematic funds, which buy stocks based on market signals rather than company fundamentals, have recently sold a significant volume of equities. As market volatility decreases and economic data suggests a potential soft landing by the Federal Reserve, these funds are expected to increase their purchases. The S&P 500 has shown positive movement recently, raising expectations for substantial inflows from these funds in the coming months.
Source: YAHOO
Reported about 2 months ago
Lockheed Martin has reached an agreement to purchase satellite manufacturer Terran Orbital for $450 million, significantly marking down its previous bid. Offering 25 cents per share, the deal comes after Terran's stock price fell sharply. As Lockheed's largest customer, the acquisition is expected to strengthen its supply chain for satellite technologies.
Source: YAHOO
Reported about 2 months ago
TE Connectivity has agreed to pay $5.8 million to the U.S. Department of Commerce after being found guilty of illegally shipping components to Chinese entities involved in military programs. The company violated export control laws 79 times from 2015 to 2019, prompting an investigation that revealed significant exports to entities on a restricted list. TE Connectivity cooperated with authorities in reporting the violations and expressed its commitment to compliance.
Source: YAHOO
Reported about 2 months ago
Berkshire Hathaway, led by Warren Buffett, holds approximately 942.43 million shares of Bank of America, valued at about $36.1 billion. With Bank of America paying a quarterly dividend of $0.26 per share, Berkshire is set to earn nearly $980.13 million annually in dividends, reflecting Buffett's investment strategy focused on steady returns. The bank has consistently raised its annual dividends for 11 years, offering a promising outlook for continued income growth.
Source: YAHOO