Reported 2 months ago
Asian stocks experienced significant declines on Friday, with Japan's Nikkei set for its worst day in over four years, following disappointing US manufacturing data that raised fears of an economic downturn. Geopolitical tensions and the anticipation of the US non-farm payrolls report added to the market's bearish sentiment, leading to rising safe-haven currencies like the Swiss franc and yen. Investors are closely watching the impending job data for signals regarding the Federal Reserve's potential interest rate cuts.
Source: YAHOO
Reported 2 months ago
Oil prices are facing a fourth consecutive weekly decline due to waning demand in major economies like the US and China, despite ongoing geopolitical tensions in the Middle East. Brent crude fell 1.6% to over $80 per barrel, while West Texas Intermediate hovered around $77, as manufacturing indicators hinted at economic weakness. Analysts suggest that the initial spike in oil prices following heightened geopolitical risks is correcting as demand concerns come back into focus.
Source: YAHOO
Reported 2 months ago
Opposition leader Maria Corina Machado has called for protests across Venezuela to defend what is seen as her party's electoral victory, as US Secretary of State Antony Blinken affirmed support for a peaceful power transition. Following claims that Machado's candidate, Edmundo Gonzalez, won the recent presidential election against incumbent Nicolas Maduro, tensions rise as Maduro threatens imprisonment for opposition figures amidst increasing international calls for democratic reforms and the release of protesters.
Source: YAHOO
Reported 2 months ago
Oil prices saw a slight increase on Friday but are on track for a fourth consecutive weekly decline as disappointing global fuel demand, particularly from major importer China, overshadows supply concerns in the Middle East. Brent crude is poised to drop 1.7% this week, while U.S. West Texas Intermediate crude is set for a 1.1% drop, marking the longest losing streak for both benchmarks since last December. Despite ongoing geopolitical tensions, analysts note a potential improvement in China's crude import outlook due to strategic purchases.
Source: YAHOO
Reported 2 months ago
Amazon reported a significant increase in quarterly profits, earning $13.5 billion in the second quarter of 2024, but missed revenue estimates of $148.67 billion, leading to a drop in stock prices. The company’s earnings per share outperformed expectations at $1.26. While the cloud services unit, AWS, saw a 19% revenue increase, overall growth in e-commerce was slower, reflecting cautious consumer spending. Amazon expects third-quarter revenues to fall short of analyst forecasts, amid ongoing cost-cutting efforts and challenges including regulatory scrutiny.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
Lumen Technologies' stock experienced a remarkable surge of over 100% this week following the announcement of partnerships with Microsoft and Corning Incorporated, allowing it to secure a substantial supply of fiber optic cables as demand increases in the AI sector. While the company's stock had been struggling due to declining revenues and negative free cash flow over the past five years, these new alliances have sparked investor optimism for a potential turnaround.
Source: YAHOO
Reported 2 months ago
Source: INVESTORS
Reported 2 months ago
In recent quarterly earnings reports, Apple surpassed revenue and earnings expectations, while Amazon missed revenue but exceeded profit predictions, reflecting consumer pressures from inflation. Coinbase's revenue doubled year-on-year but fell short of Wall Street's projections. Additionally, fintech companies like Block and MicroStrategy did not meet revenue expectations, highlighting challenges in the financial technology sector.
Source: YAHOO
Reported 2 months ago
Kamala Harris's increasing popularity in polls and potential interest rate cuts by the Federal Reserve are negatively affecting investments linked to a potential Trump victory. Since Biden announced he would not seek reelection and Democrats united behind Harris's candidacy, strategies benefiting from Trump's return have weakened, with the dollar stagnating and Bitcoin prices dropping. Market analysts suggest that the shifting political landscape is a cautionary tale for investors betting on political outcomes.
Source: YAHOO
Reported 2 months ago
Analyst Matt Bryson from Wedbush Securities states that Intel's efforts to compete with Taiwan Semiconductor Manufacturing Company (TSMC) may take two to three years to bear fruit, following the company's disappointing second-quarter earnings and a planned layoff of 15,000 workers as part of a $10 billion cost-cutting strategy. He suggests that Intel's competitive race is likely a story for 2026 or 2027.
Source: YAHOO
Reported 2 months ago
Intel announced it will cut over 15,000 jobs, representing more than 15% of its workforce, as part of a $10 billion cost-reduction strategy after reporting a net loss of $1.6 billion in Q2. CEO Pat Gelsinger expressed the challenging nature of this decision, citing the company's significant operational changes. In addition to layoffs, the plan includes distinct financial reporting for its product lines, amidst ongoing competitive struggles in its foundry operations.
Source: ENGADGET
Reported 2 months ago
Amazon's recent earnings report showed mixed results, with adjusted earnings per share exceeding expectations but revenue falling short, leading to a decline in trading. Analyst Nick Jones emphasized that despite the disappointing Q3 guidance, Amazon is still focused on global expansion and enhancing delivery speed, highlighting the unique combination of its retail and advertising opportunities. Overall, he asserts that the company, while massive, is still very much in growth mode.
Source: YAHOO
Reported 2 months ago
Transportation Secretary Pete Buttigieg defends Vice President Kamala Harris's economic approach, emphasizing that it supports both workers and business. He highlights new regulations aimed at eliminating airline junk fees, particularly mandating that families sit together without extra charges. Buttigieg notes that these changes address significant consumer complaints and reflect the administration's commitment to improving air travel affordability.
Source: YAHOO
Reported 2 months ago
Roku shares surged in after-hours trading following strong second-quarter earnings, exceeding revenue expectations thanks to robust ad sales, while its third-quarter guidance aligned with analyst predictions. Twilio's stock also jumped after beating both top and bottom line analyst estimates, with an optimistic outlook for adjusted earnings per share. Meanwhile, DraftKings experienced a slight decline despite posting a 26% increase in revenue year-over-year, as it missed revenue expectations, though it revealed a $1 billion share buyback plan.
Source: YAHOO
Reported 2 months ago
Block (SQ) reported mixed quarterly earnings, with $6.16 billion in revenue falling short of expectations but adjusted earnings exceeding forecasts. Analyst Mark Palmer states Block's performance is compelling, driven by operating leverage, and identifies the company's current standing as a strong buy despite facing challenges in the cryptocurrency sector. He remains optimistic about bitcoin's future following its recent halving.
Source: YAHOO
Reported 2 months ago
Workers at BHP's Escondida mine in Chile have overwhelmingly rejected a new contract offer, with 99.75% voting in favor of a potential strike. The union argues that the offer makes no meaningful progress towards their goals, insisting on a demand for a share of dividends among workers while claiming the company's proposal includes detrimental changes to work conditions. BHP plans to seek government mediation in hopes of reaching an agreement.
Source: YAHOO
Reported 2 months ago
Asian markets are bracing for repercussions after disappointing U.S. manufacturing data led to a drop in Treasury yields, raising recession concerns. Investors are shifting from equities to the safety of bonds, with expectations growing for a potential 50 basis point interest rate cut by the Federal Reserve. The decline in factory activity is compounded by sluggish economic signs in Europe and ongoing issues in China's economy, challenging global growth outlooks.
Source: YAHOO
Reported 2 months ago
Wall Street's major indexes declined following unexpectedly high jobless claims and disappointing manufacturing data. Yahoo Finance's Josh Schafer discusses how these economic indicators affected market sentiment and expectations regarding potential rate cuts, as well as the contrasting performance in tech earnings.
Source: YAHOO
Reported 2 months ago
Snap Inc. projects weaker-than-expected revenue for the current quarter as it faces heightened competition from major players like Meta and TikTok, leading to an 18% decline in its stock after market hours. The company's advertising revenue has been impacted by a decrease in brand-oriented spending, particularly from sectors like retail and technology, while Snap's investment in augmented reality platforms aims to attract advertisers. Despite a modest growth in daily active users, the forecast for the upcoming quarter fell short of Wall Street estimates, raising investor concerns amid a challenging economic backdrop.
Source: YAHOO
Reported 2 months ago
Wells Fargo is facing a government investigation concerning its anti-money laundering and sanctions programs, according to a filing made by the bank. The specifics of the inquiry and the government involved have not been disclosed. Additionally, Wells Fargo is currently discussing with the U.S. Securities and Exchange Commission regarding an investigation into its cash sweep options offered to investment advisory clients.
Source: YAHOO
Reported 2 months ago
Apple's recent quarterly report revealed a decline in iPhone sales year-over-year, but the release of new AI features may spark a new upgrade cycle. Analyst Tom Forte believes there's potential for increased iPhone demand, especially if new hardware is introduced alongside software updates. However, challenges arise in key markets like Europe and China, casting doubt on the immediate impact of these developments on sales.
Source: YAHOO
Reported 2 months ago
Investors are taking a bearish position on Medical Properties Trust (NYSE:MPW), as indicated by a recent analysis of options trading data. Major investors have engaged in a significant volume of put options, suggesting concerns about future price movements, with bearish sentiment observed at 62% compared to just 25% bullish. The anticipated price range for the stock over the next three months is between $4.5 to $10.0, reflecting the mixed outlook among traders.
Source: YAHOO
Reported 2 months ago
Motorola Solutions has raised its annual revenue and profit forecasts, driven by strong demand for its security services. The company reported a quarterly revenue of $2.63 billion, surpassing expectations and reflecting an anticipated 8% growth for the year. Adjusted earnings per share also exceeded estimates, demonstrating robust performance especially among key customers like the U.S. government.
Source: YAHOO
Reported 2 months ago
On the final trading day of Thursday, stock indices are on edge as they await significant tech earnings set to be announced after market closure. Yahoo Finance's Julie Hyman and Josh Lipton explore market trends with interviews featuring industry executives, including Etsy CEO Josh Silverman, who shares insights on navigating the challenging consumer landscape.
Source: YAHOO