Reported 2 months ago
Despite recent market volatility, tech stocks continue to attract investor interest, with semiconductor shares remaining mostly positive, even as Nvidia faced a decline. Bond yields are recovering after previous pressures, signaling shifting dynamics in the financial landscape.
Source: YAHOO
Reported 2 months ago
Intel's shares plummeted 26% to $21.48, marking their lowest price since 2013, following a disastrous earnings report that revealed a $1.61 billion net loss. In response, Intel announced a halt to dividend payments, significant capital expenditure cuts, and a workforce reduction of over 15% as part of a $10 billion restructuring plan. The fallout impacted the semiconductor industry broadly, affecting stocks of other major players like Taiwan Semiconductor and Samsung, and prompting a downturn in the Nasdaq index.
Source: YAHOO
Reported 2 months ago
The FDA has decided not to approve MDMA as a treatment for PTSD, emphasizing the need for additional studies to assess its safety and effectiveness.
Source: YAHOO
Reported 2 months ago
In late July, the Nasdaq reported a 2% decrease in short interest, falling to approximately 14.068 billion shares from 14.356 billion shares as of mid-July. Short selling involves borrowing and selling shares with the expectation that the price will decline, allowing investors to profit from the difference.
Source: YAHOO
Reported 2 months ago
Next week, the Consumer Price Index for July will be released, with economists predicting a 0.2% increase compared to June's decrease of 0.1%. Additionally, several major earnings reports are expected, including those from Home Depot, Cisco, Walmart, and others. US retail sales numbers for July are also anticipated to show a 0.4% rise from flat readings in June.
Source: YAHOO
Reported 2 months ago
Despite ongoing inflation affecting Americans, Vice President Kamala Harris appears to be gaining ground in the polls even as concerns about high prices persist. Following President Biden's implementation of 'Bidenomics' to combat inflation, public perception remains mixed, leading to questions about whether voters will overlook inflation issues when considering Harris's campaign.
Source: YAHOO
Reported 2 months ago
Sweetgreen shares surged after the company's second-quarter earnings exceeded expectations, prompting an optimistic revised outlook for same-store sales. CEO Jonathan Neman emphasized a cautious approach to pricing power, noting that Sweetgreen has raised prices less than competitors over the past four years. He also mentioned the introduction of 'infinite kitchens' aimed at reducing staffing needs through automation, indicating a positive path toward profitability.
Source: YAHOO
Reported 2 months ago
Starboard Value, an activist investment firm, has reportedly acquired a stake in Starbucks Corp., leading to a 2.9% increase in the company's stock. This development comes as Starbucks continues to face challenges, including declining sales and scrutiny from former CEO Howard Schultz. The company is already in discussions with another activist firm, Elliott Investment Management, regarding its performance.
Source: YAHOO
Reported 2 months ago
Emerging market currencies recorded their best performance of the year in the wake of a significant selloff as fears of a US economic downturn eased. The MSCI EM currency index rose by 0.7%, with Brazil’s real leading the gains after inflation data raised prospects for interest rate hikes. Despite ongoing concerns regarding global carry trades, the stability of the Japanese yen and a weaker dollar encouraged investment into higher-yielding currencies, signaling growing risk appetite among investors.
Source: YAHOO
Reported 2 months ago
New York Governor Kathy Hochul has declared a state of emergency due to flooding caused by remnants of Tropical Storm Debby. The storm has led to flash flood emergencies in various counties, particularly in the Finger Lakes and Southern Tier regions, along with tornado watches in parts of the Hudson Valley. The National Guard has been mobilized to assist impacted areas, and state agencies are prepared to support communities affected by the storm.
Source: YAHOO
Reported 2 months ago
Ledn is addressing the challenges that bitcoin holders face in accessing the value of their assets without selling them, following the collapse of several crypto lending platforms in 2022. By allowing users to take out loans backed by bitcoin, Ledn enables them to unlock liquidity while still maintaining the potential for appreciation in their cryptocurrency. The company has gained traction among traditional banks and now offers flexible loan options, making it a pioneer in the crypto lending space despite the inherent risks present in this market.
Source: YAHOO
Reported 2 months ago
The cryptocurrency Restore the Republic (RTR) rapidly gained popularity and saw over $155 million invested within hours, following rumors that it was linked to Eric Trump and a potential huge announcement. However, these speculations led to a quick decline in value after a warning from Eric Trump about fake tokens, clarifying that no official Trump-related cryptocurrency had been announced. The incident highlights the growing trend of crypto scams exploiting political names.
Source: YAHOO
Reported 2 months ago
According to Greg Ip, Chief Economics Commentator at the Wall Street Journal, the stock market has a strong track record of predicting recessions, with significant market declines often preceding economic downturns. However, he notes that not all sharp drops in the market lead to recessions, indicating that while the market is a useful indicator, it can also produce false alarms. Currently, he does not see signs of an impending recession.
Source: YAHOO
Reported 2 months ago
Hedge funds have sharply increased their bearish bets on Japanese stocks, marking the fastest rate of short positions accumulation in over five years, according to Goldman Sachs. The Nikkei index recorded its worst day on August 5 since 1987, driving fund managers to net sell Japanese stocks during the week ending August 8. As concerns about the economy spread globally, hedge funds exhibit a continuing trend of bearish sentiment towards equities.
Source: YAHOO
Reported 2 months ago
Morgan Stanley has designated Eli Lilly (LLY) as a 'top pick,' citing its leading growth potential in the market. This recognition follows the company's impressive second-quarter earnings report, which has led to a significant rise in its stock price. Market analysts Josh Lipton and Madison Mills discuss the implications of this upgrade for Eli Lilly's future.
Source: YAHOO
Reported 2 months ago
TikTok and Pinterest will enable users to buy products directly from Amazon within their apps, according to an Amazon spokesperson. The news has garnered attention from analysts, including Bank of America Securities, which reaffirmed its Buy rating on Amazon. This development is expected to enhance Amazon's market presence and impact the dynamics among the involved platforms.
Source: YAHOO
Reported 2 months ago
Zillow's shares have increased following the announcement of new CEO Jeremy Wacksman, who aims to expand the company's housing super app strategy. Wacksman emphasized the importance of their rental marketplace, highlighting that Zillow has amassed the largest inventory of listings, positioning the company for significant growth in market transactions.
Source: YAHOO
Reported 2 months ago
The stock market saw a significant rebound on Friday, with the S&P 500 and Nasdaq both rising nearly 0.5%, effectively wiping out much of the week's earlier losses. Following a turbulent week that included a major downturn on Monday, investors were reassured by positive labor market data. Despite closing the week in the red overall, the slight gains on Friday suggested a stabilization in the markets as traders remain optimistic surrounding potential upcoming interest rate cuts from the Federal Reserve.
Source: YAHOO
Reported 2 months ago
Cisco is reportedly planning to lay off thousands of employees in a second round of cuts, as indicated by a Reuters report. This announcement comes just before the company is set to release its fiscal fourth quarter results on August 14.
Source: YAHOO
Reported 2 months ago
Major stock indexes closed higher on Friday, recovering mostly from a sharp sell-off earlier in the week. The S&P 500 experienced its best trading day since 2022 on Thursday, bringing a mix of relief and volatility to investors. Overall, the indexes ended the week relatively flat despite the ups and downs.
Source: YAHOO
Reported 2 months ago
Nvidia's stock (NVDA) ended the week down 2%, continuing a trend of decline despite Wall Street analysts expressing optimism about its long-term growth potential. Analysts highlight the persistent demand for AI investment from large tech firms, which should benefit Nvidia, although recent concerns about delays in the company's next-generation chips have added pressure. Despite the recent downturn in the tech sector, some analysts believe this is a buying opportunity, citing increasing capital expenditures related to AI.
Source: YAHOO
Reported 2 months ago
MicroStrategy's executive chairman, Michael Saylor, expresses his confidence in Bitcoin, considering its recent volatility a sign of strength and an opportunity for significant liquidity. He emphasizes that Bitcoin is a unique global market operating around the clock, outpacing traditional investments like the S&P 500 and bonds. Saylor reveals that his company continuously purchases Bitcoin regardless of market highs, believing in its long-term value as digital capital.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Stellantis is preparing to reduce its workforce by up to 2,450 positions at its truck plant in Warren, Michigan, as production of the Ram 1500 Classic concludes with the upcoming launch of the new Ram 1500. The news has caused shares of the company to drop during afternoon trading.
Source: YAHOO
Reported 2 months ago
Intel Corp. has postponed its upcoming Innovation Expo in San Jose as part of cost-reduction efforts aimed at preserving its dwindling cash reserves. The chip giant is redirecting its focus toward other events like webinars and the Intel AI Summit, following a disappointing earnings report and the decision to lay off 15% of its workforce. This move demonstrates ongoing struggles under CEO Pat Gelsinger to reclaim the company's technological leadership.
Source: YAHOO