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% 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
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
US stocks fell sharply on Friday following a July jobs report indicating a further cooling labor market, raising fears of recession as concerns about the Federal Reserve's prolonged high-interest-rate stance grew. The Nasdaq Composite slid nearly 3%, entering correction territory, while the Dow Jones and S&P 500 also experienced significant declines. Companies like Intel and Amazon contributed to the downturn with disappointing earnings, intensifying market volatility amid worsening economic signals.
Source: YAHOO
Reported 2 months ago
Exxon Mobil reported a robust $9.2 billion profit for the second quarter of 2024, driven by rising oil prices and increased production from its recent acquisition of Pioneer Natural Resources. This profit, translating to $2.14 per share, exceeded analysts' expectations despite a drop in refining earnings. CEO Darren Woods expressed confidence in sustained high oil demand, prompting the company to raise its 2024 output target by 13% to 4.3 million barrels per day. Despite the overall market decline, Exxon's shares saw a slight uptick in early trading.
Source: YAHOO
Reported 2 months ago
Traders anticipate that the Federal Reserve will cut interest rates by half a percentage point in September, driven by disappointing job growth and a rising unemployment rate reported for the previous month. Interest rate futures now suggest a 70% likelihood of this significant cut, compared to the previously expected quarter-point decrease.
Source: YAHOO
Reported 2 months ago
On August 2, investors faced significant news: the U.S. added only 114,000 jobs in July, far less than the expected 175,000, with the unemployment rate rising to 4.3%. This raises concerns about the Federal Reserve's timing in cutting rates. Meanwhile, Apple reported better-than-expected earnings for Q3, but faced challenges in China, while Amazon's and Intel's disappointing results dragged the market down, with Intel experiencing a sharp decline due to weak guidance and job cuts.
Source: YAHOO
Reported 2 months ago
Snap Inc. shares dropped 22% following a muted earnings forecast for the third quarter, raising concerns about its ability to compete in the advertising sector against larger companies like Meta and Alphabet. The company cited weak advertiser demand, especially in consumer discretionary sectors, while rivals reported strong ad spending. Analysts express skepticism about Snap's growth prospects, indicating challenges ahead as competition intensifies in the digital advertising space.
Source: YAHOO
Reported 2 months ago
The July jobs report showed a concerning trend as the unemployment rate rose to 4.3%, the highest in nearly three years, while only 114,000 jobs were added—significantly lower than the expected 175,000. This marks a slowdown in the US labor market, with wage growth also slowing down, raising speculation about potential interest rate cuts by the Federal Reserve in upcoming meetings. The data indicates warning signs of an economic cooling, prompting a closer watch for possible recessionary signals.
Source: YAHOO
Reported 2 months ago
Source: BARRONS
Reported 2 months ago
In July, the US economy added only 114,000 jobs, significantly lower than the expected 175,000, while the unemployment rate rose to 4.3% compared to 4.1% in June. Average hourly earnings also increased by just 0.2% month-over-month and 3.6% year-over-year, falling short of projections.
Source: YAHOO
Reported 2 months ago
Warren Buffett's Berkshire Hathaway primarily invests in dividend-paying stocks, with the top five holdings—Apple, Bank of America, American Express, Coca-Cola, and Chevron—accounting for 74% of the portfolio. Apple leads the pack, noted for its substantial free cash flow and consistent dividend growth. Bank of America and American Express are strong financial bets, while Coca-Cola's iconic brand and lengthy dividend history appeal to long-term investors. Chevron offers diversification in the energy sector, boasting significant profit and dividends, making these stocks attractive choices for dividend-focused investors.
Source: YAHOO
Reported 2 months ago
Chevron reported disappointing second-quarter earnings of $4.4 billion, missing Wall Street estimates due to weak refining margins and declining natural gas prices, causing a 1.5% drop in its stock. The company's oil output is expected to decline, and it is relocating its headquarters from California to Houston amid ongoing regulatory challenges. Meanwhile, its proposed $53 billion acquisition of Hess is delayed due to a pending arbitration with Exxon Mobil.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Yahoo Finance's Brian Sozzi discusses the implications of President Biden's withdrawal from the 2024 presidential race with Rebecca Patterson, former Chief Investment Strategist at Bridgewater Associates. They emphasize the importance of focusing on company fundamentals rather than solely political outcomes, highlighting the need for investors to assess potential policy changes and their market impacts. Patterson shares her investment strategies and insights into currency and crypto markets, underscoring the complexities of profitable investing.
Source: YAHOO
Reported 2 months ago
Donating to charity can reduce your taxable income, but the impact depends on various factors including the tax code and the type of donation. If you donate cash or assets, ensure the charity is IRS-qualified, follow donation limits, and maintain proper documentation. To benefit from deductions, itemization on your tax return is necessary. For larger deductions, consider strategies like donor-advised funds or donating appreciated assets. Consult a financial advisor for tailored advice.
Source: YAHOO
Reported 2 months ago
Kamala Harris, during her 2024 presidential campaign, has shifted her strategy from supporting a government-run healthcare system to strengthening the Affordable Care Act, which is likely to benefit stocks like Oscar Health and HCA Holdings. Additionally, her moderated stance on fracking aligns with Biden’s approach, potentially favoring energy ETFs while the Powell-led Federal Reserve's expected rate cuts could benefit rate-sensitive ETFs like the iShares U.S. Home Construction ETF.
Source: YAHOO
Reported 2 months ago
Tucker Carlson, during a recent Bitcoin conference, humorously claimed that Bitcoin was created by the CIA, mocking cryptocurrency enthusiasts for being unaware of the true identity of its creator, Satoshi Nakamoto. He referred to the agency's early involvement as a 'honey trap,' drawing laughter from the audience. This theory isn't new and has circulated in discussions around Bitcoin's origins, highlighting the ongoing mystery surrounding Nakamoto's identity.
Source: YAHOO
Reported 2 months ago
Stock futures are experiencing a downturn after the July jobs report showed only 114,000 new jobs added, with the unemployment rate rising to 4.3%. This was below expectations, which forecasted 175,000 new jobs and a steady unemployment rate of 4.1%. Additionally, shares of Amazon and Intel are sharply impacting the market; Amazon reported lower-than-expected revenue and Intel revealed earnings that missed forecasts along with plans to cut 15% of its workforce. Key discussions and insights from economic experts are scheduled throughout the day.
Source: YAHOO
Reported 2 months ago
Nvidia, a leading semiconductor company pivotal in the AI sector, has seen its market cap soar to approximately $2.8 trillion. Analyst Hans Mosesmann from Rosenblatt Securities believes the company’s stock could rise 77%, reaching $200 per share, equating to a $5 trillion valuation. Nvidia's strong performance is driven by its advanced GPUs for AI applications and a growing software business, making it a high-potential investment in the tech landscape.
Source: YAHOO