Reported 2 months ago
Investing in Berkshire Hathaway, led by Warren Buffett, has proven immensely profitable. If you had purchased one Class A share at the company’s inception in 1965, converted it into Class B shares, and held through the subsequent stock split, you would now own 1,500 Class B shares. This reflects a staggering return of 3.3 million percent over 59 years, illustrating the power of long-term investment in successful companies.
Source: YAHOO
Reported 2 months ago
Recent data indicating slower job growth and a rising unemployment rate has sparked worries that the Federal Reserve may have delayed necessary interest rate cuts. July's addition of 114,000 jobs fell short of expectations, leading some analysts to suggest that the Fed could initiate rate reductions as soon as September. The job numbers have raised fears of an impending recession, despite some officials downplaying immediate risks in the labor market.
Source: YAHOO
Reported 2 months ago
Amazon recently posted mixed earnings for Q2 and offered disappointing guidance for Q3. Despite these challenges, Wolfe Research's Shweta Khajuria believes investors should stay optimistic due to Amazon's ongoing market share gains and improvements in delivery speed, which encourage more frequent purchases of lower-ticket items.
Source: YAHOO
Reported 2 months ago
Block (SQ) reported mixed second-quarter earnings, falling short on revenue estimates but exceeding expectations on net income. The company raised its full-year adjusted EBITDA guidance, which led to a rise in its shares on Friday. Morning Brief hosts Seana Smith and Brad Smith analyzed Block's performance and the market's response.
Source: YAHOO
Reported 2 months ago
Nvidia's stock fell by 4% on Friday, contributing to a broader decline in the chip sector, where Intel saw a staggering 27% drop. This downturn followed a disappointing jobs report, pushing the Nasdaq into correction territory. Intel's weak quarterly results and significant cost-cutting measures, alongside cautionary forecasts from other chipmakers and a potential Justice Department probe into Nvidia, have added to the negative sentiment in the market.
Source: YAHOO
Reported 2 months ago
The US stock market suffered significant losses on August 2, 2024, with the Nasdaq falling 10% from its recent high following a disheartening jobs report that indicated a cooling labor market. The report revealed that the economy added fewer jobs than expected in July and the unemployment rate rose to 4.3%, raising fears of a recession and prompting concerns about the Federal Reserve's interest rate policy. Major tech stocks, including Intel and Amazon, faced drastic declines after disappointing earnings, contributing to a broad sell-off across the market.
Source: YAHOO
Reported 2 months ago
Source: WSJ
Reported 2 months ago
Source: WSJ
Reported 2 months ago
In June, new orders for U.S. manufactured goods experienced a larger-than-expected decline of 3.3%, following a 0.5% drop in May. Economists had predicted a decrease of 2.9%. However, business spending on equipment remained strong, with orders for non-defense capital goods (excluding aircraft) increasing by 0.9%. Despite the overall drop, the data indicates resilience in business spending plans.
Source: YAHOO
Reported 2 months ago
Intel has announced it will halt its dividend and lay off approximately 15,000 employees as part of a strategy to cut $10 billion in costs, following disappointing Q3 revenue forecasts of $12.5 to $13.5 billion, which fall short of analyst expectations. CEO Pat Gelsinger emphasized the need for efficiency and acknowledged a slower market recovery than previously expected.
Source: YAHOO
Reported 2 months ago
The U.S. job market is cooling, particularly impacting younger workers aged 16 to 24 who are finding it increasingly difficult to secure employment. Recent data shows a rise in unemployment rates for this demographic, highlighting a shift from the tight labor market conditions experienced during the pandemic. Young job seekers, once in demand, are now facing heightened competition and more selective hiring processes. Experts advise that upcoming graduates may need to be more strategic and patient in their job search as employers plan to hire fewer new graduates than in previous years.
Source: YAHOO
Reported 2 months ago
Snap Inc. (SNAP) revealed weaker-than-expected second quarter earnings and provided an unfavorable outlook for Q3, leading to a significant drop in its stock price during Friday's trading session. The company's financial struggles highlight the ongoing challenges in the social media sector.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
ExxonMobil's shares rose 17% in net income for the second quarter compared to last year, while Chevron's shares declined after missing earnings expectations and announcing retirements of senior executives, along with a move of its headquarters to Houston, Texas.
Source: YAHOO
Reported 2 months ago
The recent jobs report showed unexpected weakness, particularly in the tech and professional services sectors, leading to speculation about potential rate cuts by the Federal Reserve. Kelsey Berro, a portfolio manager at JP Morgan, noted that while the report may solidify expectations for a September rate cut, more data is needed to assess the trend. This raises questions about future rate cut timings, with suggestions that a weakening labor market could be a key factor influencing more frequent cuts.
Source: YAHOO
Reported 2 months ago
Chevron Corp. has announced its decision to relocate its headquarters from California to Houston after expressing concerns over the state's challenging regulatory environment. This move marks the end of Chevron's 140-year presence in California, where the company has faced increasingly tough environmental regulations. CEO Mike Wirth emphasized that the shift is aimed at enhancing the company's competitiveness rather than a politically motivated decision. The announcement coincides with leadership changes within Chevron, as it seeks to improve its operational performance.
Source: YAHOO
Reported 2 months ago
In the wake of a lackluster July jobs report that showed only 114,000 jobs added, significantly below expectations of 175,000, investor sentiment has shifted. Over 70% are now anticipating a 50-basis point rate cut from the Federal Reserve in September as the market reacts to this unexpected economic data.
Source: YAHOO
Reported 2 months ago
Intel's CEO, Pat Gelsinger, announced the company's most significant restructuring in 40 years, following a shocking 25% drop in share prices due to disappointing quarterly earnings. The company suspended its dividend and plans to reduce its workforce by 15% while cutting capital expenditure for the upcoming years. Despite receiving substantial government support to boost semiconductor production, analysts express concerns regarding Intel's ability to compete with industry leaders like Nvidia and AMD.
Source: YAHOO
Reported 2 months ago
Tom Lee from Fundstrat urges investors to capitalize on the ongoing dip in the stock market, viewing it as a buying opportunity despite recent volatility and disappointing tech earnings. He believes that forthcoming Federal Reserve guidance and potential rate cuts may positively influence the market. Lee outlines four reasons supporting this perspective, including upcoming market catalysts, technical signals indicating limited downside, the prospective impact of rate cuts on borrowing costs, and bullish trends in small-cap stocks, which may be poised for significant gains.
Source: YAHOO
Reported 2 months ago
In a recent op-ed, JPMorgan CEO Jamie Dimon articulated his expectations for the next US president, emphasizing the need for unity and collaboration across political lines, without endorsing any specific candidates. He highlighted the importance of selecting talented individuals from various backgrounds for leadership roles, and stressed that the future president should engage all voters respectfully and thoughtfully. Dimon also addressed critical policy areas such as energy security and affordable housing, suggesting actionable reforms to address pressing national issues.
Source: YAHOO
Reported 2 months ago
Apple's Q3 earnings surpassed expectations, bolstering the bullish sentiment around the stock, according to analyst Michael Ng from Goldman Sachs. He highlighted the significant earnings acceleration and the positive effects of the iPhone's upgrade cycle, while discussing the potential impact of AI features in Apple's products.
Source: YAHOO
Reported 2 months ago
The July employment report revealed a disappointing addition of only 114,000 jobs, well below the projected 175,000. Healthcare emerged as the strongest sector, contributing 55,000 new jobs, followed by construction and transportation, which added 25,000 and 14,000 jobs respectively. Despite growth, the transportation sector faced setbacks, particularly with a loss of jobs in transit and ground transportation services.
Source: YAHOO
Reported 2 months ago
Intel's shares dropped significantly after the company reported second-quarter results that fell short of expectations, alongside a weak outlook for the third quarter and a decision to cut 15,000 jobs and suspend its dividend. CEO Pat Gelsinger highlighted that these restructuring efforts are part of Intel's strategy to ensure long-term sustainability.
Source: YAHOO
Reported 2 months ago
Amazon's stock fell 8% in trading after an earnings report revealed lower-than-expected Q3 revenue guidance between $154 billion and $158.5 billion, compared to the analyst forecast of $158.43 billion. Although the company posted a profit of $1.26 per share, it barely missed revenue expectations of $148.8 billion, and weakness in sales amid cautious consumer spending raised concerns. Despite growth in its advertising and cloud service sectors, Amazon faces increased competition and must adapt its strategies for upcoming sales periods.
Source: YAHOO
Reported 2 months ago
Amazon's stock fell 8% following a forecast for the third quarter that disappointed investors, citing lower-than-expected sales and operating income. The company's projected revenue range of $154 billion to $158.5 billion was below analysts' expectations, while operating income also fell short. Despite a profitable quarter with earnings per share of $1.26, concerns about increased competition in e-commerce and a soft consumer spending environment contributed to the stock's decline.
Source: YAHOO