Reported 2 months ago
U.S. producer prices saw a modest increase of 0.1% in July, falling short of the anticipated 0.2% rise, driven by lower service costs despite higher goods prices. Over the past year, the PPI rose by 2.2%, down from 2.7% in June, prompting market expectations for a potential easing by the Federal Reserve amid a cooling labor market and a rising unemployment rate.
Source: YAHOO
Reported 2 months ago
Newzoo has revised its growth forecast for the global video game market, predicting a 2.1% increase in revenue to $187.7 billion, down from earlier expectations of 2.8%. The adjustment comes as console sales lag behind amid a sparse game release schedule and ongoing challenges in the industry, including layoffs and studio closures. Despite a decline in overall playtime since early 2021, gamer spending persists, particularly in PC gaming, which benefits from moving console exclusives. The global gamer population is anticipated to reach 3.42 billion by 2024.
Source: YAHOO
Reported 2 months ago
U.S. producer prices in July rose by only 0.1%, falling short of economists' forecasts of a 0.2% increase. This modest rise was influenced by a 0.2% decline in service costs, marking the first decrease this year, amidst slowing inflation. The core producer price index remained unchanged, and with weak job data, expectations for a Federal Reserve rate cut have increased.
Source: YAHOO
Reported 2 months ago
DoorDash has announced a partnership with Warner Bros Discovery's Max to provide its streaming service at no additional cost to subscribers of its DashPass membership in the U.S. This move aligns with a growing trend of combining streaming services with delivery platforms, emphasizing cost-saving options for consumers facing high inflation. The Max service includes popular shows and members can also choose to upgrade to an ad-free plan for a fee.
Source: YAHOO
Reported 2 months ago
Cryptocurrency mining, particularly for Bitcoin, has raised concerns due to its significant energy consumption and environmental impact, resembling the energy usage of entire countries. This article discusses the reliance on fossil fuels in mining, contributing to greenhouse gas emissions and electronic waste. It highlights improvements in the industry, including the shift to renewable energy, more efficient mining hardware, and the adoption of Proof-of-Stake mechanisms that drastically reduce energy usage. With increasing focus on sustainability, the future of cryptocurrency appears promising as the sector moves towards greener practices.
Source: YAHOO
Reported 2 months ago
Despite concerns over a looming recession, small businesses in the U.S. are showing optimism, with the National Federation of Independent Businesses reporting its highest owner optimism index in over two years. Although inflation and labor costs remain challenges, increased investment plans and job openings suggest a resilient demand outlook. As the Federal Reserve considers interest rate cuts, the overall economic growth continues to impress with strong indicators, contrasting Wall Street's pessimism.
Source: YAHOO
Reported 2 months ago
Starbucks announced the hiring of Brian Niccol, the current CEO of Chipotle, to replace Laxman Narasimhan as CEO amid pressure from activist investors. Niccol is set to start on September 9, with Starbucks CFO Rachel Ruggeri serving as interim CEO during the transition. The announcement led to a significant rise in Starbucks shares while Chipotle's shares dropped.
Source: YAHOO
Reported 2 months ago
Starbucks has announced Brian Niccol, CEO of Chipotle since 2018, as its new chairman and CEO, starting September 9. Niccol's appointment follows the departure of Starbucks' previous CEO Laxman Narasimhan. Following the news, Starbucks shares surged over 20%, while Chipotle’s stock dropped by more than 12%. The board lauded Niccol's leadership and experience, emphasizing the significance of his role at a critical time for Starbucks amid challenges and declining sales.
Source: YAHOO
Reported 2 months ago
Despite a rough market start in August, three stocks stand out as strong buying opportunities. MercadoLibre (NASDAQ: MELI) shows impressive revenue growth driven by its diverse operations in Latin America. Deckers (NYSE: DECK), with booming sales from its Hoka footwear brand, is also making a mark in the consumer discretionary sector. Lastly, Realty Income (NYSE: O), a safe REIT with a solid dividend yield, has shown stability and growth amid market volatility, making these stocks compelling choices for investors.
Source: YAHOO
Reported 2 months ago
Tencent Music Entertainment experienced a smaller-than-expected 1.7% decline in quarterly revenue, reaching 7.16 billion yuan, aided by a 27.7% increase in paying subscribers in its online music sector. Despite a significant drop in revenue from social entertainment due to ongoing regulatory challenges, the company's growth in online music offsets this decline, demonstrating resilience amid external pressures.
Source: YAHOO
Reported 2 months ago
Starbucks announced the replacement of CEO Laxman Narasimhan with Brian Niccol, the current CEO of Chipotle, as the company faces declining sales and investor dissatisfaction. Narasimhan, who has been at the helm for just over a year, will step down immediately, while Niccol is set to take over on September 9. Investors reacted positively to the news, with Starbucks shares climbing over 21% in early trading, reflecting optimism for a turnaround under Niccol's leadership.
Source: YAHOO
Reported 2 months ago
As Wall Street faces potential downturns with indicators suggesting a market crash, Sean Williams highlights PennantPark Floating Rate Capital, a little-known business development company offering an impressive 11% yield. With a focus on debt investments in middle-market businesses and a strong management team, the company shows promise for long-term investors looking to expand their portfolio during turbulent market conditions.
Source: YAHOO
Reported 2 months ago
Workers at BHP Group's Escondida mine in Chile commenced a strike after unsuccessful negotiations over wage agreements. This action threatens to disrupt operations at the world's largest copper mine, which is responsible for about 5% of global copper production. Following a five-day mediation process, the workers rejected the company's latest proposal, raising concerns about the impact on copper shipments and potential market reactions amid fluctuating copper prices.
Source: YAHOO
Reported 2 months ago
Chipotle's stock plummeted by 8% in premarket trading after CEO Brian Niccol announced his move to Starbucks. Niccol, who has led Chipotle since 2018, was pivotal in doubling the company's revenue from $4.5 billion to $9.9 billion during his tenure. The company's COO will serve as interim CEO, while CFO Jack Hartung has committed to stay with Chipotle indefinitely.
Source: YAHOO
Reported 2 months ago
B. Riley Financial's stock has fallen to its lowest point in nearly eight years after the investment bank delayed filing its quarterly report, raising concerns over significant losses, particularly related to its investment in Franchise Group. The bank warned of a potential loss between $435 million to $475 million, drastically reducing its market value. This report marks the third delay this year, as B. Riley is under scrutiny from regulators and shareholders amid legal challenges involving its former CEO.
Source: YAHOO
Reported 2 months ago
Despite recent challenges, Meta Platforms remains a promising investment among the 'Magnificent Seven' tech stocks. With a solid revenue growth of 22% and advancements in AI, Meta's advertising business is rebounding. The company's wide user base and competitive advantage position it well for future profitability, especially with its new quarterly dividend initiative enhancing its investment appeal.
Source: YAHOO
Reported 2 months ago
Home Depot has announced another quarter of declining earnings, with revenue of $43.18 billion falling short of expectations. The company experienced a 3.3% drop in same-store sales and noted ongoing pressure on consumer spending due to high interest rates. While forecasts indicate potential sales improvements with anticipated rate cuts, the current outlook remains cautious as Home Depot adjusts its guidance for the year.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
In the context of the 2024 presidential elections, discussions surrounding the Federal Reserve's independence are heating up, with Vice President Kamala Harris supporting it and former President Donald Trump advocating for a more influential approach. Robert Kaplan, former CEO of the Federal Reserve Bank of Dallas, emphasizes in his recent commentary that a truly independent central bank is crucial for ensuring a successful economy.
Source: YAHOO
Reported 2 months ago
Bank of America CEO Brian Moynihan stressed the necessity of the Federal Reserve's independence in response to former President Trump's suggestion for presidential control over interest rate decisions. During a CBS interview, Moynihan warned that maintaining current interest rates could dampen consumer confidence and highlighted that economies with independent central banks tend to perform better.
Source: YAHOO
Reported 2 months ago
Moody's and S&P analysts express skepticism regarding Boeing's ability to meet its 2024 production goal of 38 MAX jets per month, predicting a delay until 2025. Concerns stem from potential labor disruptions and Boeing's history of missed targets, alongside a significant cash burn in 2024. Current evaluations suggest the company may only produce 32 jets monthly by the year's end, affecting deliveries and financial stability.
Source: YAHOO
Reported 2 months ago
Wall Street is analyzing new economic data following the release of the Producer Price Index (PPI), which had a monthly expectation of a 0.2% gain. Additionally, investors are responding to significant earnings reports from retail giants like Home Depot. Trending stocks on Yahoo Finance include Trump Media, Nvidia, and Jet Blue Airways, while various financial experts will contribute insights throughout the morning.
Source: YAHOO