Reported 3 days ago
W.P. Carey, a well-diversified real estate investment trust (REIT), has seen its stock fall nearly 40% after a dividend cut due to challenges following the pandemic. Despite this decline, the company remains a strong candidate for long-term investment, as it can comfortably afford its current dividend and boasts a diverse portfolio across various sectors. Investors are advised to remain patient as the stock price is currently affected more by high interest rates than by W.P. Carey's fundamentals.
Source: YAHOO
Reported 3 days ago
Wall Street strategists are updating their 2025 forecasts, predicting the S&P 500 will continue to rally without relying heavily on artificial intelligence (AI) influence. Notable forecasts include a year-end target of 6,700 from BMO Capital's Brian Belski and 6,500 from Morgan Stanley's Mike Wilson, both indicating a shift toward broader market participation. Despite earlier reliance on AI boosts, strategists now anticipate earnings growth to broaden beyond tech stocks, reflecting a matured bull market as the Federal Reserve potentially cuts rates in the coming year.
Source: YAHOO
Reported 3 days ago
Source: WSJ
Reported 3 days ago
Occidental Petroleum has successfully achieved 90% of its goal to reduce debt following its $12 billion acquisition of CrownRock, primarily funded through debt. The company aims to repay at least $4.5 billion within a year of the deal's closure and is on track to reach this target by leveraging excess cash flow and asset sales. While this progress alleviates some financial strain, investors seeking immediate returns may prefer larger competitors like Exxon and Chevron. However, Occidental presents an appealing option for those looking for an oil stock with strong growth potential as it successfully pays down its debt.
Source: YAHOO
Reported 4 days ago
Warren Buffett's Berkshire Hathaway has long-term positions in Coca-Cola and Amazon, both seen as prime investment opportunities now. Coca-Cola, a staple in Buffett's portfolio, boasts a solid dividend yield and resilience in sales despite market challenges. Meanwhile, Amazon continues to thrive with impressive revenue growth and a strong outlook in e-commerce and cloud computing, making it another compelling choice for investors looking to follow Buffett's lead.
Source: YAHOO
Reported 4 days ago
Billionaire Philippe Laffont has significantly reduced his investment in Nvidia by 80%, selling off almost 40 million shares, and has instead invested heavily in Alibaba, increasing his stake by 895%. While Nvidia continues to dominate the AI chip market, concerns about competition and insider selling have influenced Laffont's decisions. Alibaba, with its strong e-commerce presence and leading cloud infrastructure, offers promising long-term growth, making it a now more attractive investment in the AI sector.
Source: YAHOO
Reported 4 days ago
Chinese electric vehicle manufacturer XPeng (XPEV) forecasts fourth-quarter revenue exceeding Wall Street expectations, driven by a rejuvenated product lineup and increased domestic demand. In premarket trading, shares jumped 5.1% as the company reported steady sales for its MONA M03 sedan and earlier launched P7+ executive sedan. XPeng anticipates delivering between 87,000 and 91,000 vehicles in Q4, a substantial increase from last year, following a successful third-quarter revenue beating estimates.
Source: YAHOO
Reported 4 days ago
Thailand's government will initiate the second phase of its 'digital wallet' programme in January, distributing 40 billion baht ($1.16 billion) to support 4 million people as part of its broader $14 billion stimulus effort. The aim is to amplify consumption, particularly targeting seniors over 60 who are in need. The government plans to disburse cash before the Lunar New Year and is also introducing debt relief measures and housing support for low-income earners as it seeks to sustain economic momentum.
Source: YAHOO
Reported 4 days ago
Billionaire Israel Englander significantly reduced Millennium Management's stake in Palantir Technologies by 90.3%, favoring the rapidly growing electric vehicle company Nio instead, increasing his investment in it by 196.3%. Although Palantir has experienced a remarkable rise, concerns about its long-term growth potential and high valuation prompted this strategic shift. Meanwhile, Nio has been ramping up production and innovating solutions like battery swap stations, despite ongoing competition and financial losses.
Source: YAHOO
Reported 4 days ago
Rheinmetall aims to achieve €20 billion ($21.08 billion) in sales by 2027, driven by increased defense spending in response to the Ukraine war, according to their recent Capital Markets Day presentation. The German defense company anticipates reaching annual sales of about €10 billion in 2024, bolstered by a significant rise in sales and strategic expansions in the U.S. and through a joint venture with Italian defense firm Leonardo. Shares in Rheinmetall rose by 1.75% following this announcement.
Source: YAHOO
Reported 4 days ago
The Indian news agency ANI has filed a lawsuit against OpenAI in a New Delhi court, alleging the unauthorized use of its content to train the AI chatbot ChatGPT. ANI claims that OpenAI has not obtained permission for using its published works and accuses it of attributing false news to the agency. This lawsuit adds to a series of legal challenges faced by OpenAI from various media organizations around the world. The first hearing was held recently, with a follow-up scheduled for January 28, 2025.
Source: YAHOO
Reported 4 days ago
Safe-haven assets experienced a significant uptick as investors reacted to Russia's updated nuclear doctrine, which outlines potential retaliation against any threats. Following the Kremlin's announcement, government bonds, the Japanese yen, and gold saw increased investment, with gold prices reaching a session high around $2,626 an ounce while the dollar weakened against the yen.
Source: YAHOO
Reported 4 days ago
Source: YAHOO
Reported 4 days ago
In Q3, Warren Buffett has notably minimized his stock purchases, raising Berkshire Hathaway's cash reserves to a historic $325 billion while slightly increasing its stake in the lesser-known aerospace component supplier, Heico. Although Heico has shown impressive growth and profitability over time, its current high price-to-earnings ratio suggests it may not be the best buy at the moment. Investors are encouraged to stay cautious and consider awaiting more favorable pricing opportunities as Buffett seems selective in his investment choices.
Source: YAHOO
Reported 4 days ago
Korea Zinc's chairman, Yun B. Choi, is seeking to rebuild trust with shareholders after a $1.8 billion share sale was scrapped due to a tactical error amidst a control dispute with the company’s top shareholder. Choi acknowledged his mistake and outlined measures to improve governance, such as enhancing the board with independent members and focusing on shareholder engagement. Even as the company navigates tensions regarding its strategic direction, Choi remains committed to protecting Korea Zinc's interests and is open to dialogue with rival factions on its future.
Source: YAHOO
Reported 4 days ago
Super Micro Computer Inc. saw its shares soar by up to 42% in premarket trading after announcing the hiring of a new auditor, BDO USA, and filing a compliance plan with Nasdaq to address delayed financial reports. The company aims to submit its annual report for the year ending June 30, 2024, and become current with its filings. This comes after a difficult period marked by a significant drop in stock prices, governance concerns, and a DOJ probe, as well as a history of delisting and relisting from Nasdaq.
Source: YAHOO
Reported 4 days ago
Super Micro Computer Inc's shares surged by 36% to $29.30 following the appointment of BDO USA as its new auditor and an announcement that it seeks more time from Nasdaq to comply with listing regulations. The company, previously under scrutiny after its former auditor Ernst & Young resigned, expressed confidence in completing its financial reporting soon.
Source: YAHOO
Reported 4 days ago
Invesco's Martin Walker sees opportunity in UK blue chip stocks like BP, Prudential, and Centrica, despite their poor performance this year. The companies feature prominently in the Invesco UK Opportunities Fund, which has outperformed many peers. According to Walker, their current low valuations present a lucrative investment opportunity, particularly as these stocks are trading significantly cheaper than overall market valuations. While some have struggled due to market weaknesses, Walker remains committed to value investing, focusing on potential returns rather than emotional attachment to specific holdings.
Source: YAHOO
Reported 4 days ago
Billionaire investor Stanley Druckenmiller has sold all of his shares in Nvidia, citing high valuations, despite expressing long-term confidence in the company. Instead, he has invested $41 million in Broadcom, a rapidly growing AI company that has seen substantial growth and recently split its stock. As demand for AI products surges, Broadcom is positioned for significant expansion, suggesting it may be a profitable investment choice.
Source: YAHOO
Reported 4 days ago
Meta Platforms announced its intention to legally contest an order from India's competition regulator that prohibits data-sharing between WhatsApp and its other applications. The Competition Commission of India imposed a five-year ban on sharing user data for advertising purposes and fined Meta $25.4 million over antitrust concerns related to WhatsApp's 2021 privacy policy. Meta insists that the policy update did not compromise users' privacy or service access.
Source: YAHOO
Reported 4 days ago
Norinchukin Bank, a major Japanese lender, has reported an expected annual loss of over ¥1.5 trillion ($9.7 billion) as it aggressively sells off unprofitable foreign bonds due to rising global interest rates. The bank aims to offload more than ¥10 trillion in US and European sovereign bonds this fiscal year, following significant losses from its international investments. With net losses reaching ¥893.9 billion in the first half of the fiscal year, Norinchukin is under scrutiny as it seeks to realign its $304 billion investment portfolio amidst concerns over potential inflation and interest rate changes under a future Donald Trump presidency.
Source: YAHOO
Reported 4 days ago
Apple Inc. has dramatically increased its investment proposal to nearly $100 million to persuade the Indonesian government to lift a ban on selling the iPhone 16, which was imposed due to the company's failure to meet local content requirements. The Indonesian Ministry of Industry is now requesting that Apple adjust its plans to focus more on research and development in the country. This situation highlights Indonesia's strategy to pressure foreign companies to enhance local manufacturing while raising concerns about deterring investment from other firms.
Source: YAHOO
Reported 4 days ago
Xiaomi has increased its electric vehicle (EV) delivery target for the third time this year, now aiming for 130,000 units by the end of 2024, following a notable 30.5% rise in Q3 revenue. The company's first EV, the SU7 sedan, surpassed its original goal of 76,000 units, with total deliveries reaching 67,157 by September 30. The demand for EVs continues to grow in China, prompting Xiaomi to enhance production capabilities and expand its sales network, which now includes 127 smart EV centers across 38 cities.
Source: YAHOO
Reported 4 days ago
Palantir Technologies' stock has skyrocketed by over 250% in 2024, driven by strong demand for its AI platform and the company’s impending move from the New York Stock Exchange to the Nasdaq. As it aims for inclusion in the Nasdaq-100 index, historical trends suggest that stocks typically see an 11% to 17% increase in value after being added to the index. Despite the hype, investors are advised to focus on the company's financial health rather than speculative trading, as Palantir's high valuation may pose a risk.
Source: YAHOO
Reported 4 days ago
Bayer has secured a partnership with Cytokinetics to obtain rights for an experimental heart medication in Japan, further enhancing its cardiovascular business. The agreement includes an upfront payment of 50 million euros and potential contingent payments totaling up to 490 million euros based on development and sales milestones. This move comes as Bayer aims to strengthen its drug development pipeline amid various financial pressures.
Source: YAHOO