Reported about 2 months ago
As the third quarter earnings season begins, Mariner Wealth Advisors chief investment strategist Jeff Krumpelman forecasts a potential 10% market correction, citing elevated valuations and investor excitement over possible Federal Reserve rate cuts. Despite this, he maintains his optimistic targets for the S&P 500, expecting it to reach 5,400 by the end of 2024 and over 6,000 by mid-2025, while acknowledging possible geopolitical and economic risks.
Source: YAHOO
Reported about 2 months ago
Shares of Caterpillar (CAT) experienced a dip after Morgan Stanley downgraded the stock to 'Underweight' and lowered the price target to $332 per share. Despite a 34% rise in stock value this year, analysts pointed to competitive pressures in the construction and agricultural machinery markets as key reasons for the downgrade.
Source: YAHOO
Reported about 2 months ago
Donald Trump has made at least ten new tax cut promises during his campaign, including tax breaks for car loan interest and American expats. While these promises could cost over $9 trillion in the next decade and attract skepticism from both tax experts and some GOP members, he continues to unveil proposals aimed at specific voting blocs. Critics argue that these ambitious pledges are unlikely to be enacted and could lead to significant fiscal challenges ahead.
Source: YAHOO
Reported about 2 months ago
SoFi Technologies has reached a deal with Fortress Investment for $2 billion in funding aimed at expanding its personal loan business, leading to a stock increase of up to 9%.
Source: YAHOO
Reported about 2 months ago
Wells Fargo has upgraded Flutter Entertainment, the parent company of FanDuel, to an 'Overweight' rating and raised its price target from $224 to $295 per share. This change follows concerns regarding proposed taxes on the gambling and sports betting sector in the UK.
Source: YAHOO
Reported about 2 months ago
Nvidia's stock is nearing a record high as investors embrace the AI boom, pushing shares above $138 and positioning the company to potentially surpass Apple as the world's most valuable firm. The stock's recent rise is attributed to significant funding announcements for OpenAI, positive analyst reports, and a strong demand forecast for Nvidia's new AI chips. With Nvidia's market cap at $3.4 trillion compared to Apple’s $3.5 trillion, the competition for the top spot in the market intensifies.
Source: YAHOO
Reported about 2 months ago
As Q3 earnings season intensifies, portfolio manager Hani Redha from PineBridge Investments describes the outlook as 'fairly benign', suggesting modest growth in earnings. He emphasizes the importance of management commentary regarding capital investment and consumer health as interest rates decline, while anticipating improved growth by 2025.
Source: YAHOO
Reported about 2 months ago
Federal Reserve President Neel Kashkari indicated that modest interest rate cuts are likely in the coming quarters to achieve the central bank's dual mandate. While monetary policy remains restrictive, Kashkari noted a strong job market and recent economic data suggests that significant weakening is not imminent. The recent warmer-than-expected inflation readings and job growth support the argument for gradual rate reductions, aligning with the consensus among Fed officials for at least two more cuts this year.
Source: YAHOO
Reported about 2 months ago
Boeing has announced a larger-than-expected loss and plans to cut around 17,000 jobs, citing ongoing difficulties including a strike that symbolizes broader issues the company has faced over the past ten years. Despite the strike potentially ending, layoffs will continue as part of a strategy to reshape the company. The new CEO aims to mend employee relations and restore production, though Boeing is struggling with cash flow and operational hurdles amid the challenges.
Source: YAHOO
Reported about 2 months ago
Elliott Investment Management has initiated a special shareholder meeting request at Southwest Airlines, marking its first proxy fight in the U.S. since 2017. Scheduled for December 10, the meeting aims to secure votes on eight director nominees proposed by Elliott, targeting changes in the airline's leadership following years of perceived underperformance. Elliott holds an 11% stake in Southwest, emphasizing the urgent need for enhanced oversight as the company seeks to improve its financial results.
Source: YAHOO
Reported about 2 months ago
Source: BARRONS
Reported about 2 months ago
A recent report by the Institute on Taxation and Economic Policy indicates that former President Trump's tax proposal would significantly benefit the wealthiest Americans while imposing tax hikes on the majority of households. While the top 1% could see tax cuts over $36,000, 95% of Americans may face increases ranging from $600 to $1,800. The middle class could see an average increase of $1,530, with lower-income households bearing an even larger relative burden. This controversy highlights concerns over the widening wealth gap in the U.S.
Source: YAHOO
Reported about 2 months ago
Elliott Hill has taken over as Nike's CEO following the dismissal of John Donahoe, amidst a concerning 25% drop in Nike shares in 2024. Barclays Analyst Adrienne Yih emphasizes that Hill's immediate priority should be to rebuild morale within the company while addressing key operational challenges such as inventory management and re-establishing wholesale partnerships.
Source: YAHOO
Reported about 2 months ago
MicroStrategy's stock experienced a boost following Barclays' decision to raise its price target to $225, viewed as a proxy for Bitcoin. This increase in value is attributed to China's recent economic stimulus measures, which have spurred growth in both Bitcoin and Ethereum prices. Analysts maintain an Overweight rating on MicroStrategy, signaling positive sentiment in the market.
Source: YAHOO
Reported about 2 months ago
Elliott Investment Management has officially initiated a proxy battle to gain control of the board of Southwest Airlines, requesting a special shareholders' meeting in December. Analysts are advising investors on the implications of this development.
Source: YAHOO
Reported about 2 months ago
Goldman Sachs has adjusted its growth forecast for China's economy for 2024 and 2025, attributing the upgrade to recent stimulus measures implemented by the Chinese central bank. This news coincided with a nearly 2% rise in the CSI 300 Index following updates on the stimulus policy. Morning Brief hosts Seana Smith and Brad Smith discuss what this means for investors.
Source: YAHOO
Reported about 2 months ago
Nike welcomes former executive Elliott Hill as its new president and CEO, tasked with revitalizing the iconic brand and reclaiming its leading status in the market. Yahoo Finance's Brian Sozzi discusses key strategies Hill must implement to successfully navigate this challenge.
Source: YAHOO
Reported about 2 months ago
US stocks opened the week with mixed results, but the S&P 500 is gaining momentum, rising over 0.5%. The Nasdaq 100 is up as Nvidia's shares edge closer to a new all-time high. Market experts await upcoming key earnings reports that could impact these trends.
Source: YAHOO
Reported about 2 months ago
Suntory Holdings CEO, Takeshi Niinami, warned in a Yahoo Finance podcast that China could be on the brink of an economic downturn similar to Japan’s lengthy deflationary period following its bubble burst in the early 1990s. Highlighting issues like consumer reluctance to spend and overproduction, he noted that China's current economic concerns, such as low GDP growth and rising youth unemployment, need urgent attention. Niinami advocates for a shift towards private sector innovation and risk-taking to revitalize the economy.
Source: YAHOO
Reported about 2 months ago
U.S. stock futures are reacting to China's new economic stimulus plan, while major companies like Bank of America and Netflix prepare to report earnings. Boeing's shares continue to decline after announcing it will cut 17,000 jobs due to an ongoing strike, impacting 10% of its workforce. Additionally, Elliott Hill, a former Nike executive, is set to take over as CEO and president of Nike.
Source: YAHOO
Reported about 2 months ago
SoFi Technologies has secured an agreement to utilize $2 billion from Fortress Investment Group for the origination of personal loans. This deal aims to enhance SoFi's loan platform business, allowing the online bank to broker deals for pre-qualified borrowers and originate loans on behalf of others. CEO Anthony Noto emphasized that this strategy diversifies revenue sources while meeting financial needs, leading to a 7% rise in SoFi's stock following the announcement.
Source: YAHOO
Reported about 2 months ago
Source: YAHOO
Reported about 2 months ago
Social Security benefits will see significant changes in 2025 that retirees should be aware of. Key modifications include a 2.5% increase in monthly benefits, adjustments to the full retirement age for those born in 1959, and an increase in the earnings threshold before benefits are reduced. These changes aim to better accommodate the financial needs of retirees amidst ongoing concerns about the adequacy of cost-of-living adjustments.
Source: YAHOO
Reported about 2 months ago
U.S. stock index futures were mixed on Monday as investors prepared for a busy week of third-quarter earnings and crucial economic data. While major financial firms reported positive earnings that boosted the Dow and S&P 500 to record highs, concerns linger over stretched valuations and the need for companies to justify their stock prices amid economic uncertainty. Key economic indicators, including retail sales, are also highly anticipated, which may influence Federal Reserve policy on interest rates.
Source: YAHOO