Reported 2 months ago
The financial struggles of US colleges and universities have intensified, with 15 institutions reporting new technical or payment defaults in 2024, nearing last year's total of 17, marking the highest impairments since 2009. The widening gap between well-endowed institutions and those facing severe competition and rising costs highlights the rapid credit erosion in higher education since early 2023. With around $246 billion in municipal debt outstanding, the sector's overall credit quality remains high, yet concerns persist over the increasing challenges for smaller colleges and their financial viability.
Source: YAHOO
Reported 2 months ago
On August 12, 2024, the stock market showed mixed results with the Dow Jones Industrial Average lagging behind while the S&P 500 and Nasdaq remained stable. Investors are keenly awaiting important economic indicators including the Consumer Price Index, Producer Price Index, and retail sales data from July. In contrast, gold prices have soared past $2,500 amid ongoing uncertainty and market volatility.
Source: YAHOO
Reported 2 months ago
Tesla has ceased orders for its least expensive Cybertruck variant, the rear-wheel drive version, signaling potential demand issues as more costly models build up inventory. The cheapest available model now has a price tag of nearly $100,000. Industry analysts suggest that low conversion rates from reservations to orders, attributed to a shift in customer interest towards higher-priced options, are contributing to this inventory surplus, despite the Cybertruck's overall reasonable sales performance.
Source: YAHOO
Reported 2 months ago
In the lead-up to the 2024 presidential election, a New York Times/Siena College poll indicates Vice President Kamala Harris is ahead of former President Donald Trump by four points in key swing states. As the candidates outline their positions, they diverge sharply on tax policies, particularly concerning the Trump tax reforms set to expire in 2025. While Trump advocates for their extension, Harris has expressed intentions to repeal them, with her future tax plans likely mirroring President Biden's approach aimed at taxing high-income individuals.
Source: YAHOO
Reported 2 months ago
At the D23 event, Disneyland announced a significant expansion of its theme parks and cruise operations, including a $60 billion investment over the next decade. Highlights include the largest expansion in Magic Kingdom's history with new attractions, a Villains Land, and the addition of new ships to its cruise fleet, expanding from nine to thirteen by 2031.
Source: YAHOO
Reported 2 months ago
Universal Music Group and Meta Platforms have announced a new licensing agreement aimed at expanding commercial opportunities for artists on Meta's platforms, including Facebook and Instagram. The deal also permits sharing UMG's music on WhatsApp without copyright issues, potentially benefiting artists under the UMG label.
Source: YAHOO
Reported 2 months ago
As volatility in traditional equity markets increases, gold prices continue to rise, with Bloomberg Intelligence's senior macro strategist Mike McGlone predicting that gold could reach $3,000 per ounce. Analyzing market trends, McGlone emphasizes that gold's performance outpaces that of stocks, signifying deeper problems in the macro economy.
Source: YAHOO
Reported 2 months ago
Over 25% of employees are missing work to receive packages at home, largely due to concerns about package theft. With many companies bringing staff back to the office, allowing package deliveries at work could serve as an attractive perk to help retain talent. While this option poses logistical and liability challenges, workplace experts suggest finding a middle ground to accommodate employees' needs while mitigating risks.
Source: YAHOO
Reported 2 months ago
As the 2024 presidential election approaches, Kace Capital Advisors' Kenny Polcari discusses the potential economic impacts of a Kamala Harris or Donald Trump administration. He highlights the uncertainty in the markets due to the lack of clear policies from Harris and advises investors to adopt a defensive strategy by focusing on consumer staples and utilities. Polcari also views the recent drop in stocks like Nvidia as a buying opportunity, emphasizing the importance of positioning portfolios wisely during traditionally weaker market months.
Source: YAHOO
Reported 2 months ago
Brazilian aircraft manufacturer Embraer is reportedly on the verge of finalizing a deal to supply Virgin Australia with eight E190-E2 regional jets, having edged out Airbus's A220 in the bidding process. The order is estimated to be worth nearly $300 million, factoring in industry-standard discounts. Embraer declined to comment, and Virgin Australia was not immediately available for response.
Source: YAHOO
Reported 2 months ago
JetBlue Airways has been downgraded by S&P and Moody's following its announcement to raise over $3 billion in debt, primarily supported by its TrueBlue loyalty program. The company's stock fell by 19%. S&P downgraded its rating from 'B' to 'B-' due to concerns over financial stability, predicting low operating cash flow ratios through 2025. Moody's lowered JetBlue's corporate family rating to 'B3', estimating significant cash burn in the upcoming years. While Fitch maintained a rating of 'B' with a stable outlook, it cautioned that profitability improvements are essential to avoid further downgrades.
Source: YAHOO
Reported 2 months ago
Summer is often considered a volatile time for stocks, prompting investors to question the risks of increased market fluctuations. Financial expert Liz Miller suggests that summer is an opportune time for investors to reassess and rebalance their portfolios, emphasizing that current economic indicators do not signal a recession risk. Instead, she encourages investors to leverage market volatility to acquire desired assets at favorable prices.
Source: YAHOO
Reported 2 months ago
JetBlue Airways has launched a $2.75 billion bond-and-loan sale backed by its loyalty program to bolster reserves and fund corporate purposes, facing downgrades from Moody's and S&P. The airline plans to sell $1.5 billion in bonds and $1.25 billion in a term loan, but shares dropped as much as 19% following the announcement. JetBlue's strategy involves leveraging its loyalty program as collateral, similar to actions taken by other major airlines during the pandemic.
Source: YAHOO
Reported 2 months ago
Goodyear Tire & Rubber Co plans to invest over C$575 million to modernize its plant in Napanee, Ontario, creating 200 new jobs and securing 1,000 existing ones by 2027. The federal and provincial governments will contribute a total of C$64.3 million towards the project, which aims to boost production capacity, particularly for electric vehicle and all-terrain tires, while achieving net-zero emissions by 2040.
Source: YAHOO
Reported 2 months ago
Deutsche Bank has upgraded its rating on Eli Lilly from Hold to Buy, increasing the price target to $1,025 per share. Analyst James Shin attributes this positive outlook to the company's improved visibility and strong demand for its GLP-1 weight-loss drug Mounjaro, which has recently met its sales benchmarks despite ongoing supply challenges. The firm recognizes Eli Lilly's efforts to expand production capabilities as a response to current demand exceeding supply.
Source: YAHOO
Reported 2 months ago
Blink Fitness, a budget gym chain owned by Equinox, has filed for Chapter 11 bankruptcy to facilitate a sale of the business while ensuring its gyms remain operational. With over 100 locations, the company has received $21 million in new financing and reported a 40% revenue increase over the past two years. This move comes as the fitness industry continues to recover from the impacts of the COVID-19 pandemic.
Source: YAHOO
Reported 2 months ago
A recent report from the Federal Reserve Bank of New York reveals that U.S. consumers' medium-term inflation expectations dropped from 2.9% to 2.3% in July, marking the lowest figure since the survey began in 2013. Although near- and long-term expectations remained stable, concerns about debt repayment increased among households, particularly those with lower incomes, with a reported 13.3% probability of missing a payment, the highest since April 2020.
Source: YAHOO
Reported 2 months ago
This week, several companies are initiating stock splits, including 60 Degrees Pharmaceuticals, Immunovia, Trevena, Shuttle Pharmaceuticals, Monopar Therapeutics, WaveDancer, and Genius Group. These stock splits, featuring reverse stock splits aimed at compliance with Nasdaq's minimum price requirements, are intended to enhance liquidity and affordability for retail investors. Noteworthy splits effective this week include a one-for-12 reverse split for 60 Degrees Pharmaceuticals and a one-for-10 reverse split for Genius Group, set to trade on August 16.
Source: YAHOO
Reported 2 months ago
Nvidia's stock has seen a rise of up to 5% as analysts suggest the recent downturn in the semiconductor sector, which has affected numerous tech stocks including Nvidia, may be overblown. Bank of America's Vivek Arya highlighted Nvidia as a top pick for recovery, forecasting a rebound in semiconductor stocks as seasonal factors fade. Despite concerns about delays in its Blackwell chip production, analysts remain optimistic about Nvidia's long-term growth, citing strong demand for AI technology.
Source: YAHOO
Reported 2 months ago
U.S. electric utilities are optimistic about increased demand from data centers fueled by the AI boom, having secured significant contracts in the second quarter. Major utilities like American Electric Power and NextEra Energy are reporting heightened interest from tech firms and have enhanced their forecasts for data center electricity demand by about 50% for 2030. Analysts anticipate solid sales growth for utilities, which are projected to exceed long-term targets after a period of underperformance.
Source: YAHOO
Reported 2 months ago
The Biden-Harris Administration has unveiled the 'Time Is Money' initiative aimed at enhancing consumer safeguards against corporate malpractices. The new policies target issues such as 'junk fees,' subscription cancellation hurdles, and refund difficulties, with potential implications for Vice President Kamala Harris's presidential campaign and her economic strategy.
Source: YAHOO
Reported 2 months ago
US stocks showed mixed results as investors prepared for crucial economic data this week. The S&P 500 remained stable, while the Nasdaq rose 0.3% and the Dow Jones fell approximately 0.4%. Notably, Nvidia's stock surged over 5%, boosting the tech sector. Analysts anticipate upcoming reports on inflation and retail sales to influence market movements as the Federal Reserve's interest rate decisions loom.
Source: YAHOO
Reported 2 months ago
The U.S. government has officially ended its civil and criminal investigations into Carson Block, the founder of Muddy Waters Research. Block had been under scrutiny since 2021 due to allegations of coordinated market manipulation among activist short sellers and hedge funds. Recent communications from the Justice Department and the SEC confirmed that no further action will be taken against him.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Nvidia's stock has surged 10% over the past week, recovering from a decline of about 20% since June. This rebound follows reassurance from analysts that the company's production delays for its upcoming AI chips may not impact demand. Analysts believe Nvidia's products, particularly its new Blackwell platform and existing Hopper chips, are in high demand, with positive prospects for AI adoption. However, despite this resurgence, Nvidia was not included among The Motley Fool's top stock picks, suggesting a cautious approach for potential investors.
Source: YAHOO