Reported 2 months ago
Shares of The Trade Desk (TTD) have surged after surpassing second quarter earnings expectations with a 26% year-over-year revenue growth. The ad tech company has benefited from strong partnerships contributing to its impressive performance, as discussed by Market Domination hosts Josh Lipton and Madison Mills.
Source: YAHOO
Reported 2 months ago
Shares of Unity Software saw a noticeable increase on Friday after the company reported its second quarter earnings, surpassing revenue expectations with $449.3 million, compared to the anticipated $436.7 million. Analysts Josh Lipton and Madison Mills discuss the implications of Unity Software's impressive quarterly performance.
Source: YAHOO
Reported 2 months ago
Mark Luschini, chief investment strategist at Janney Montgomery Scott, discusses the recent fluctuations in US equities and assesses the economic landscape. Despite a sell-off on Monday, he notes the economy is in good shape, with solid GDP growth. Luschini views current market conditions as a favorable buying opportunity but warns of potential volatility leading up to the election, recommending defensive sectors for investors to mitigate risk.
Source: YAHOO
Reported 2 months ago
As the AI chip market faces a downturn, ASML, AMD, and Micron have emerged as potential buying opportunities for investors looking to capitalize on recent price dips. Despite significant declines, analysts maintain strong buy ratings for these stocks, especially Micron, which shows the highest upside potential at 82%. With innovative developments and a promising future in AI demand, these companies may represent strong investment prospects.
Source: YAHOO
Reported 2 months ago
Cash App users affected by data breaches can now file claims for a portion of a $15 million settlement reached by Cash App and its parent company, Block Inc. The lawsuit alleged that they failed to adequately protect user data during breaches occurring from August 23, 2018, through August 20, 2023. Claims can be submitted for various types of losses, including up to $2,500 in out-of-pocket expenses. The deadline to submit claims is November 18, with a final approval hearing scheduled for December 16.
Source: YAHOO
Reported 2 months ago
Bitcoin experienced a significant surge, reaching over $62,000 after a sharp decline below $50,000 due to recession fears. This rebound was supported by positive U.S. unemployment data, with only 233,000 claims last week. Despite Goldman Sachs raising recession predictions for 2025, analysts suggest the market reacted too strongly. Crypto entrepreneur Arthur Hayes forecasts Bitcoin could potentially soar to $1 million in this market cycle, citing a transformative phase in global monetary systems.
Source: YAHOO
Reported 2 months ago
Three executives from Smartmatic, a voting technology company, have been indicted for allegedly paying $1 million in bribes to a former Philippine election official to secure contracts related to the country's voting systems. The charges include foreign bribery and money laundering, involving the company's president and co-founder, alongside a former chairman of the Philippine Commission on Elections. This indictment could have implications for Smartmatic's ongoing legal battles, including a $2.7 billion defamation lawsuit against Fox Corp.
Source: YAHOO
Reported 2 months ago
Wei Li, BlackRock's global chief investment strategist, warns that a potential Trump presidency could challenge the Federal Reserve's independence, impacting fiscal policies and Treasury yields. Trump's recent statements about influencing monetary policy have sparked concerns among investors and financial experts, suggesting that the demand for government bonds needs to be re-evaluated in light of political changes.
Source: YAHOO
Reported 2 months ago
The People's Bank of China (PBOC) announced plans to enhance its monetary policy toolbox by gradually increasing the buying and selling of treasury bonds during open market operations. The central bank aims to lower financing costs for companies and households, while maintaining sufficient liquidity in the banking system. With economic growth falling short of expectations, the PBOC is also attentive to changes in long-term bond yields and will conduct stress tests on financial institutions' bond assets to mitigate interest rate risks.
Source: YAHOO
Reported 2 months ago
In light of the 2024 presidential campaign, Vice President Kamala Harris has faced criticism for her limited engagement with the media, as she has rarely been available for interviews since announcing her candidacy. With the ongoing evolution of campaign strategies emphasizing message control, the traditional role of journalists as gatekeepers is diminishing. While the landscape for candidate interviews shifts towards televised rallies and social media interactions, questions arise about the necessity of direct media engagement and the public's right to hold candidates accountable.
Source: YAHOO
Reported 2 months ago
Meta Platforms triumphed in a legal battle against Children's Health Defense, an anti-vaccine organization founded by Robert F. Kennedy Jr., concerning allegations of censorship on Facebook. The 9th U.S. Circuit Court of Appeals ruled that the nonprofit failed to prove Meta was coerced by federal officials, asserting that the company has a First Amendment right to moderate content it deems false. This ruling affirms an earlier decision that dismissed Children's Health Defense's claims regarding its banned advertisements and account removals.
Source: YAHOO
Reported 2 months ago
Netflix has announced a collaboration with CBS Sports to air two NFL games on Christmas Day this year. This partnership marks the first time Netflix has secured rights to stream content from the NFL, one of the most popular sports leagues in the United States, with additional games planned for Christmas in 2025 and 2026 as part of a three-season agreement.
Source: YAHOO
Reported 2 months ago
In a significant turnaround, Wall Street's major indices, including the S&P 500 and Nasdaq, gained nearly 0.5% on Friday, nearly offsetting earlier week losses after a tumultuous trading week marked by highs and lows. This comeback followed a strong labor market report that bolstered investor confidence amid fears from Monday's significant downturn, highlighted by the dramatic rise of the CBOE Volatility Index. Despite the gains, analysts advise caution as concerns over potential economic slowdowns and upcoming inflation reports linger.
Source: YAHOO
Reported 2 months ago
A group of U.S. senators has criticized Google, X, and other tech giants for not adequately addressing the issue of non-consensual explicit images online. They sent a letter urging these companies to join existing programs that help individuals remove such content, highlighting the growing prevalence of AI-generated explicit imagery. The letter calls for tech firms to participate in initiatives like the National Center for Missing and Exploited Children’s 'Take it Down' program and the Revenge Porn Helpline’s 'StopNCII' initiative, which streamline the removal process for affected users.
Source: YAHOO
Reported 2 months ago
Meta Platforms successfully defended against a lawsuit from Children's Health Defense, an anti-vaccine organization founded by Robert F. Kennedy Jr., which claimed that Meta curtailed their posts spreading vaccine misinformation. The 9th U.S. Circuit Court of Appeals ruled that Meta acted within its rights as a private company, stating it has the authority to moderate content it finds objectionable, especially regarding vaccine safety and efficacy.
Source: YAHOO
Reported 2 months ago
California has announced a partnership with Nvidia to improve artificial intelligence training for students and faculty in the state's colleges, particularly community colleges. This initiative aims to provide new curricula, certifications, hardware, and AI labs, helping Californians acquire essential skills in generative AI and advance their careers. Governor Gavin Newsom emphasized the importance of equipping the workforce to leverage AI technology as it transforms various industries.
Source: YAHOO
Reported 2 months ago
A domestic abuse scandal involving former Argentine President Alberto Fernandez is providing a favorable backdrop for current President Javier Milei, according to analysts. Allegations from Fabiola Yanez—Fernandez's ex-partner—along with leaked images of her injuries, have prompted opposition figures to distance themselves from him, potentially boosting Milei's popularity as he continues his controversial austerity measures amid a deep recession. The unfolding events signal a shift in public sentiment against the previous political establishment that Milei has consistently criticized.
Source: YAHOO
Reported 2 months ago
Oportun is focusing on improving its credit performance by reducing loan charge-offs and selling its three-year-old credit card portfolio. The company reported an annualized net charge-off rate of 12.3%, aligning with analyst expectations but significantly higher than the average rates among U.S. commercial banks. CEO Raul Vazquez emphasized a strategic shift towards quality over quantity in their loan origination process. Oportun aims to complete the sale of its card portfolio by the end of Q3 2024 while launching a new partnership with Western Union and forecasting revenues of up to $1.01 billion for the year.
Source: YAHOO
Reported 2 months ago
Stellantis, the parent company of Chrysler, plans to lay off up to 2,450 workers at its Warren Truck assembly plant near Detroit as it ceases production of the Ram 1500 Classic truck. Effective October 8, the plant will shift from two shifts to a single shift in assembly while continuing Jeep Wagoneer production on a two-shift basis. Laid-off workers will receive unemployment benefits, transition assistance, and healthcare coverage for two years.
Source: YAHOO
Reported 2 months ago
Mark McCormick from TD Securities discusses the recent yen carry trade's effects on the tech sector, particularly in light of rising interest rates. While the tech sector has faced challenges due to reliance on low rates, McCormick suggests that the situation may benefit certain stocks like Nvidia as capital repatriation could lead to higher real interest rates and potential shifts in earnings.
Source: YAHOO
Reported 2 months ago
Americold Realty Trust reported a slight increase in quarterly revenue to $661 million, despite a net loss of $64.4 million. South Jersey is expanding its cold storage capabilities with a new facility, and Turri's Italian Foods has been acquired by Benford Capital Partners, further demonstrating growth in the sector.
Source: YAHOO
Reported 2 months ago
Mizuho has upgraded Nvidia's stock forecast to $132, noting that upcoming earnings on August 28 will serve as a crucial catalyst for AI-related stocks. Their analysis indicates that despite delays in Nvidia's Blackwell chip, demand for its current GPU products remains robust. With Nvidia's ability to increase prices on future chips, the bank anticipates significant revenue growth, projecting nearly $200 billion by 2027.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Wheat futures in Chicago are on track for a second weekly gain, driven by reports of a smaller harvest in Europe, particularly in France and Germany. Strategie Grains has lowered its forecast for the EU soft-wheat crop by 5%, and France expects a 25% drop in production compared to the five-year average. Analysts also noted that Egypt is seeking to purchase up to 3.8 million tons of wheat, indicating strong demand. With anticipation for the USDA's upcoming crop report, traders are also adjusting their positions, reflecting a potential rally as market trends shift.
Source: YAHOO
Reported 2 months ago
Nvidia's stock is projected to decline nearly 2% this week as challenges in the chip sector continue, with the company down about 20% in the last month. Despite this, Wall Street analysts uphold a positive outlook on Nvidia, backed by an urgent demand for AI investments from major tech players. Upgrades during the recent sell-off indicate confidence in Nvidia's long-term prospects, even as concerns about potential delays for its next-generation chip loom.
Source: YAHOO