Reported 2 months ago
Instacart has projected its third-quarter gross transaction value and core profit to surpass analyst expectations, driven by higher transaction and advertising fees, along with increased orders on its platform. Following this announcement, company shares surged over 7%. Instacart's CEO noted growth in average order sizes, particularly in partnership with Uber for food delivery. Overall revenue rose 15% to $823 million, outpacing analyst estimates, while the company anticipates a significant gross transaction value between $8.10 billion and $8.25 billion.
Source: YAHOO
Reported 2 months ago
Despite Super Micro Computer (SMCI) missing its fiscal Q4 earnings and revenue estimates, its shares initially rose following strong guidance for the first quarter and full year 2025. However, the stock later reversed course, losing up to 13% after the report, highlighting market volatility even amidst positive outlooks.
Source: YAHOO
Reported 2 months ago
SunPower's shares have dropped sharply after the company announced its bankruptcy and plans to liquidate its assets. Analysts discuss the implications of this news and provide a quick overview of SunPower's history in the solar solutions industry.
Source: YAHOO
Reported 2 months ago
Kenvue's stock experienced a significant increase after the consumer health company reported second-quarter earnings that exceeded Wall Street expectations, driven by robust sales in China. Market analysts, including Julie Hyman and Josh Lipton, discussed the earnings report and its implications for Kenvue's growth.
Source: YAHOO
Reported 2 months ago
Rivian announced its Q2 results, revealing slightly lower revenue than expected, but maintaining its outlook for a 'modest gross profit' by year's end. The company confirmed a projected adjusted EBITDA loss of $2.7 billion for 2024, highlighting advancements in its R1 vehicle platform aimed at reducing costs. Despite a dip in vehicle production and deliveries during the quarter due to factory upgrades, Rivian's cash position improved significantly, bolstered by a joint venture with Volkswagen, enhancing investor confidence as it prepares for future vehicle releases.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
The tech sector recently experienced a sell-off, but it is showing signs of recovery. Dan Ives from Wedbush Securities believes that this presents a valuable buying opportunity for investors in high-quality, large-cap technology stocks. He highlights the strong fundamentals observed during the tech earnings season and reassures that demand remains stable, particularly in Asia.
Source: YAHOO
Reported 2 months ago
A recent U.S. court ruling declared Google to be operating an illegal monopoly, which could jeopardize its lucrative $20 billion annual deal with Apple to make Google the default search engine on Apple devices. Analysts estimate that the termination of this agreement, which is pivotal for Apple's revenue, could lead to a 4-6% profit decline for the company. The ruling may prompt Apple to explore alternative search options and accelerate its transition to AI-powered services.
Source: YAHOO
Reported 2 months ago
Waymo, a subsidiary of Alphabet, is set to expand its autonomous ride-hailing service in San Francisco and Los Angeles to meet rising demand. The new service areas will include Daly City, Broadmoor, Colma, as well as parts of Marina del Rey, Mar Vista, Playa Vista, Hollywood, Chinatown, and Westwood. This expansion comes amid increasing competition in the driverless vehicle sector, with significant investments from companies like General Motors and Amazon's Zoox, alongside Waymo's planned $5 billion investment to boost its self-driving operations.
Source: YAHOO
Reported 2 months ago
Bitcoin advocates are hopeful about new all-time highs for the cryptocurrency after it experienced a significant drop recently, falling below $50,000. Despite this decline, which marked the worst week since the FTX collapse, bullish analysts believe that bitcoin could rebound and surpass $100,000 by the end of 2024. Mixed sentiments remain as some debate whether bitcoin is truly a safe investment, noting its volatility and recent correlation with tech stocks. Overall, optimism persists among long-term investors who are looking ahead.
Source: YAHOO
Reported 2 months ago
A Reuters poll indicates that the Bank of Mexico is likely to keep its benchmark interest rate at 11% this week, with 12 out of 22 analysts supporting this stance due to rising inflation and a declining peso. After a previous rate cut, the central bank faces pressures from increased consumer prices, which reached a nearly year-high in July, prompting analysts to favor a cautious approach. The monetary policy statement is due shortly after the release of July's inflation data.
Source: YAHOO
Reported 2 months ago
In wake of a significant liquidation event where approximately $1.1 billion in crypto bets were lost, hedge funds are returning to the options market with bullish positions, particularly favoring call options on Bitcoin and Solana. Despite the recent selloff that saw Bitcoin’s value drop sharply, traders are largely optimistic about a rebound, driven by strong demand on exchanges like Coinbase and expected political shifts in the US.
Source: YAHOO
Reported 2 months ago
On August 6, 2024, U.S. crude oil for September delivery increased by 26 cents to $73.20 per barrel, while Brent crude for October rose by 18 cents to $76.48. Wholesale gasoline prices remained stable at $2.33 per gallon, and heating oil was unchanged at $2.30. Natural gas saw a rise of 7 cents to $2.01 per 1,000 cubic feet. In metals, gold for December delivery dropped by $12.80 to $2,431.60 per ounce, while silver increased by 1 cent to $27.22 per ounce.
Source: YAHOO
Reported 2 months ago
The National Transportation Safety Board (NTSB) and Boeing are unable to identify the individual responsible for removing a door plug from an Alaska Airlines 737 MAX 9 that experienced an in-flight emergency in January. NTSB Chair Jennifer Homendy criticized Boeing for its safety practices, stating that significant improvements are needed and expressing concerns about the pervasive distrust within the company's workforce.
Source: YAHOO
Reported 2 months ago
Corporate borrowers have rapidly issued investment-grade bonds, surpassing $1 trillion in sales just eight months into the year. This surge comes as companies capitalize on low yields ahead of the upcoming presidential election, despite recent market volatility. The year's issuance pace is driven by demand from yield-seeking investors and the urgency to secure favorable financing costs, with significant bond sales occurring even amid economic uncertainty.
Source: YAHOO
Reported 2 months ago
Walt Disney Co. has announced a price hike for its streaming services, with the Disney+ ad-supported plan rising 25% to $9.99 per month and ad-free Disney+ increasing 14% to $15.99. The changes, effective October 17, also include new channels and programming on Disney+. This move follows similar increases by competitors like Netflix and Peacock as Disney transitions to a streaming-focused model.
Source: YAHOO
Reported 2 months ago
Recent analysis suggests that the aggressive selling by US volatility-linked funds, which has intensified market losses amid economic concerns, may soon ease. These funds have offloaded approximately $150 billion worth of stocks in the past three weeks, contributing to a significant market downturn. However, experts believe that with some strategies reducing their exposure, selling pressure may lighten in the coming days, potentially paving the way for a market recovery if volatility subsides.
Source: YAHOO
Reported 2 months ago
David Einhorn's Greenlight Capital has underperformed the broader market once more in the second quarter, returning 2.8% compared to the S&P 500's 4.3%. In a letter to investors, Greenlight noted unusual market conditions where large-cap stocks diverged from smaller stocks, contributing to underperformance. Despite exiting several long positions, Greenlight is now reestablishing its investment in Capri Holdings amid ongoing merger discussions, which face regulatory challenges. Investors remain cautious about the deal's outcome and the potential risks involved.
Source: YAHOO
Reported 2 months ago
Wall Street economists argue that the recent panic among investors regarding a looming recession is exaggerated. Despite rising risks linked to economic data, they highlight that consumer spending remains robust, indicating resilience in the economy. They contend that the market's expectation for aggressive Federal Reserve rate cuts may not align with the actual economic situation, which is still within the realm of normal activity.
Source: YAHOO
Reported 2 months ago
PIMCO's Group Chief Investment Officer Daniel Ivascyn believes the U.S. economy is on track to avoid a recession regardless of recent signs of economic weakening. However, he warns that the country's fiscal situation is worsening, prompting PIMCO to increase investments in foreign government debts from countries with lower budget deficits. Ivascyn highlights that while the U.S. Treasury market is experiencing volatility due to economic data and geopolitical tensions, the overall fiscal outlook remains concerning.
Source: YAHOO
Reported 2 months ago
In a significant announcement, Vice President Kamala Harris has chosen Minnesota Governor Tim Walz as her running mate for the upcoming election. Harris praised Walz for his commitment to working families, while receiving support from notable Democrats, including President Biden and former President Obama. The Harris-Walz ticket aims to be a strong voice for the middle class and uphold essential democratic values. They are set to kick off their campaign with a rally in Philadelphia, marking the start of several events in pivotal battleground states.
Source: YAHOO
Reported 2 months ago
Charles Schwab reported that a surge in trading volume coupled with a technical issue from a key vendor caused temporary outages on their trading platform on Monday. Many customers faced difficulties logging into their accounts during a significant market selloff, and similar issues were reported by customers of other firms like Fidelity and Vanguard. The problems were resolved, and the platforms are now fully operational.
Source: YAHOO
Reported 2 months ago
As U.S. stocks rebound from a significant drop, experts advise investors to resist panic during market volatility. Long-term investing is essential, and knee-jerk reactions can lead to unnecessary costs and tax implications. Young investors may find opportunities to purchase stocks at lower prices, while those nearing retirement should evaluate their risk tolerance and possibly shift to safer investments. Additionally, individuals with debt should prioritize paying off high-interest loans before making significant investments, although a balance between debt repayment and modest investing can be beneficial.
Source: YAHOO
Reported 2 months ago
A federal appeals court ruled that Tamika Miller, a Citigroup vice president, is not entitled to a portion of the $400 million civil penalty the bank agreed to pay for risk management failures. The court determined that Miller's whistleblowing did not obligate Citigroup to pay fines related to its audit report alterations, as the Office of the Comptroller of the Currency (OCC) had discretion over whether to impose fines.
Source: YAHOO
Reported 2 months ago
As Disney prepares to release its fiscal third-quarter earnings, expectations indicate potential struggles in both its parks and streaming divisions. With a projected revenue increase to $23.08 billion, Disney faces headwinds from a sluggish parks business and ongoing profitability issues in streaming, despite a recent rebound in its theatrical films. Price hikes for streaming services are expected to take effect soon, as Disney aims for full streaming profitability by the end of the fiscal year.
Source: YAHOO