Reported 2 months ago
Chinese stock trading volumes have fallen to their lowest point in over four years, with only 496 billion yuan ($69.1 billion) traded on Monday, reflecting deepening pessimism in the market. This downturn is attributed to a looming economic slowdown and a housing crisis that is driving investors towards safer government bonds. Analysts express mixed sentiments, suggesting the market may be oversold despite these bleak trading conditions.
Source: YAHOO
Reported 2 months ago
A Thai court is set to rule on whether Prime Minister Srettha Thavisin violated ethical standards by appointing a controversial figure to his cabinet, in a verdict that may lead to political upheaval. If ruled not guilty, Srettha's government could proceed with economic initiatives, but a guilty verdict would trigger his resignation and a scramble for a new prime minister, potentially destabilizing the economy.
Source: YAHOO
Reported 2 months ago
Asian shares exhibited mixed results on Tuesday as Japan's Nikkei 225 rebounded with a 2.2% increase following a tumultuous week of drastic declines. While South Korea's Kospi fell slightly, Australia's S&P/ASX 200 edged up, and Hong Kong's Hang Seng remained relatively stable. Investors reacted positively to stability in the yen's value and strong performance in technology stocks. Global geopolitical tensions continue to influence market dynamics, with investors closely monitoring upcoming economic data including inflation and retail sales reports in the U.S.
Source: YAHOO
Reported 2 months ago
Elon Musk and Donald Trump held a lengthy conversation on the X platform, which was marred by a delayed start due to claimed cyber attacks. During the over two-hour discussion, Musk pitched his potential role in Trump’s administration if elected, while Trump reiterated campaign themes resembling his rally speeches. The conversation touched on issues like immigration and electric vehicles, showcasing Musk's growing support for Trump, as evidenced by his recent endorsements and political actions.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Dell Technologies is restructuring as it adopts a new focus on artificial intelligence, reportedly laying off about 12,500 employees in its sales division. This strategy has raised concerns among staff, who likened their situation to 'burning the boats,' indicating the company's commitment to transformational changes. Analysts are adjusting their expectations, with one lowering the price target on Dell shares ahead of its upcoming earnings report, although the overall outlook for the second half remains favorable.
Source: YAHOO
Reported 2 months ago
A highly anticipated joint X Spaces event featuring Elon Musk and Donald Trump faced a crash shortly after its scheduled start time on August 12, 2024. Users attempting to join received error messages, with the event only beginning 42 minutes late due to what Musk attributed to a suspected DDOS attack. This event marked Trump's return to the platform after being banned since January 2021.
Source: YAHOO
Reported 2 months ago
According to a bullish analyst at Barclays, Abbott Laboratories (NYSE: ABT) stock has the potential to rise to $143, presenting an attractive opportunity for investors at its current price of around $108. Despite a recent court ruling involving a baby formula lawsuit, Abbott’s strong earnings, innovative medical devices, and consistent dividend growth may support this optimistic outlook. However, potential investors should also weigh the risks posed by ongoing legal issues against the company's robust sales growth and market position.
Source: YAHOO
Reported 2 months ago
Plug Power faces ongoing difficulties as it recorded significant losses in the second quarter, including a net loss of $262.3 million, marking an 80% drop in stock value over the past year. The company struggles with negative gross margins in both hydrogen fuel and equipment sales, relying heavily on cash raised through equity sales to finance operations and plant expansions. Despite some improvements in hydrogen fuel margins, Plug Power's path to profitability remains uncertain, prompting caution for potential investors.
Source: YAHOO
Reported 2 months ago
Microsoft, the world's second-largest company, has leveraged its diverse tech offerings and AI advancements for growth. However, analysts predict that Nvidia and Meta Platforms could outpace Microsoft's market cap over the next ten years due to their strong positions in the AI chip market and digital advertising, respectively. Nvidia is set for explosive growth thanks to its dominance in AI GPUs, while Meta is expected to benefit from increasing digital ad spending and innovative AI tools that improve advertising effectiveness.
Source: YAHOO
Reported 2 months ago
Asian stock markets recovered from last week's losses, driven by gains in Japanese shares as the yen weakened, benefiting exporters. The MSCI Asia-Pacific index rose significantly, completely erasing the previous week's sharp declines. Investors are now awaiting key US economic data that could influence Federal Reserve interest rate decisions, while oil prices hover around $80 amidst geopolitical tensions.
Source: YAHOO
Reported 2 months ago
Oil prices fell following a five-day rise as fears of escalating conflict in the Middle East clashed with indications of diminishing global demand. Brent crude dipped to around $82 per barrel and West Texas Intermediate fell below $80. Despite ongoing cuts from OPEC+, consumption concerns prompted the organization to revise its demand forecasts for the current year and next. The market's underlying strength persists, as indicated by widening time spreads, even as external pressures remain.
Source: YAHOO
Reported 2 months ago
Shobhit Maini, the head of digital assets for Citigroup's markets unit, is leaving the bank after 14 years to pursue new entrepreneurial opportunities in the digital asset field. Following his departure, Deepak Mehra will take over the role, expanding his responsibilities. Maini has held the position since 2021, and his exit comes as Citigroup continues to engage in various digital finance initiatives.
Source: YAHOO
Reported 2 months ago
Global sales of electric vehicles surged by 21% in July 2024, primarily fueled by a 31% increase in China's sales, according to market research firm Rho Motion. However, European demand is declining, accentuated by new tariffs on Chinese EV imports impacting brands like MG Motor. Overall, July saw 1.35 million EVs sold globally, with a noticeable drop in sales in the EU, especially in Germany.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
Hong Kong's declining land sales, once a major revenue source for the city, threaten its low-tax financial model. The real estate market is suffering from falling prices and rising vacancy rates, leading developers to reduce bidding prices significantly. In the fiscal year 2023-2024, government land revenue was the lowest since the global financial crisis, prompting concerns about increased fiscal deficits and the need for new revenue streams as the city plans costly infrastructure projects and faces an aging population.
Source: YAHOO
Reported 2 months ago
Home Depot is set to report yet another quarter of subdued earnings, with analysts predicting a slight revenue increase but a decline in adjusted earnings per share and same-store sales. High interest rates are prompting consumers to postpone significant home improvement projects, and while potential interest rate cuts may eventually stimulate the housing market, analysts warn that any beneficial effects may take time to materialize. Investors remain cautious as the company continues to navigate challenging macroeconomic conditions.
Source: YAHOO
Reported 2 months ago
BHP Group is in final mediated talks with union leaders to avoid a strike at the Escondida mine in Chile, offering a $28,900 bonus per worker. The union alleges that the company disclosed terms unilaterally, as they missed a scheduled meeting. Both sides must reach an agreement by midnight to prevent disruption at a mine responsible for 5% of global copper production, amid fluctuating copper prices and tight concentrate supplies.
Source: YAHOO
Reported 2 months ago
B. Riley Financial Inc. is struggling to properly value its assets as it contends with an SEC investigation over flawed accounting practices and a recent sharp drop in its share price. The Los Angeles-based investment firm delayed its quarterly report due to difficulties in assessing its loans and investments, while also reporting significant quarterly losses and announcing its dividend suspension. As the SEC probes the firm’s disclosures and potential trading irregularities involving its founder and partners, the company faces increasing scrutiny that could put its financial stability at risk.
Source: YAHOO
Reported 2 months ago
Patrick Shanahan, CEO of Spirit AeroSystems, is set to receive a $28.5 million payout following the company's merger with Boeing, comprising a $2.3 million cash payment, $26.1 million in converted stock units, and additional benefits. This golden parachute package is typical in corporate America to encourage management to facilitate company sales, even at the cost of their positions.
Source: YAHOO
Reported 2 months ago
WSP Global Inc. has announced its acquisition of Power Engineers Inc., an Idaho-based engineering firm, for C$2.44 billion ($1.8 billion), with funding from Singapore’s sovereign wealth fund and major Canadian pension funds. WSP aims to enhance its position in the energy transition market through this transformative deal, which comes after a series of acquisitions. The transaction is expected to be immediately beneficial to WSP's earnings and expand its presence in the U.S. energy sector.
Source: YAHOO
Reported 2 months ago
DigitalOcean is emerging as a strong contender in the cloud computing market, especially targeting small and mid-sized businesses often overlooked by giants like Microsoft, Amazon, and Alphabet. With a recent surge in revenue and a unique approach to democratizing access to AI infrastructure, DigitalOcean could be an attractive investment opportunity as it continues to grow in a burgeoning industry.
Source: YAHOO
Reported 2 months ago
CrownRock Holdings, partially owned by Texas oil mogul Tim Dunn, is looking to raise up to $1.7 billion through the sale of 29.6 million shares of Occidental Petroleum, priced at a discount. This follows Occidental's recent $10.8 billion acquisition of CrownRock LP, marking a significant transaction in the US oil sector. JPMorgan Chase, Morgan Stanley, and Royal Bank of Canada are managing the offering.
Source: YAHOO
Reported 2 months ago
US officials have indicated that an Iranian attack on Israel is increasingly likely, potentially occurring as soon as this week. The Pentagon is reinforcing its military presence in the region amid fears that such an action could lead to a wider conflict. Leaders from the US and allied nations are attempting to stabilize the situation by promoting ceasefire talks between Israel and Hamas, while Israel prepares for potential retaliatory strikes. The situation remains tense as past attacks involved significant military engagement.
Source: YAHOO
Reported 2 months ago
US stocks closed mixed on Monday, with the Nasdaq rising slightly while the Dow dropped in anticipation of critical economic indicators this week, including the Consumer Price Index and retail sales data. Nvidia led a tech rally, spiking about 4%, but overall market activity remained jittery following a volatile previous week. Analysts suggest that uncertainty around inflation and potential Federal Reserve interest rate cuts may lead to continued market fluctuations.
Source: YAHOO