Reported 3 months ago
Match Group Inc. shares saw their largest increase in nearly two years after announcing a 6% workforce reduction and better-than-expected earnings. The layoffs are expected to save the company about $13 million annually as it plans to shut down certain livestreaming services. Despite a decline in Tinder's paying users, Match reported a 4% overall revenue growth, driven by a significant increase in Hinge's revenue. Analysts view these developments positively as they indicate stabilization and a potential turnaround for the company amid pressure from activist investors.
Source: YAHOO
Reported 3 months ago
Mastercard's stocks have risen following the release of its second quarter results, which surpassed analysts' expectations for both profit and revenue. CEO Michael Miebach attributed the strong performance to 'continued healthy consumer spending'.
Source: YAHOO
Reported 3 months ago
The growth potential for the Magnificent Seven stocks appears increasingly difficult to achieve, as investors show growing impatience with Big Tech's high valuations and lackluster earnings. Winthrop Capital's Luke Stone highlights a market rotation away from these stocks, encouraging investors to explore other opportunities amid concerns over future customer bases and economic conditions.
Source: YAHOO
Reported 3 months ago
Altria Group's shares have declined following the release of its latest quarterly report, which narrows its full-year earnings guidance. The company now anticipates adjusted diluted earnings per share to fall between $5.07 and $5.15. Market analysts, Madison Mills and Seana Smith, discuss the implications of this announcement.
Source: YAHOO
Reported 3 months ago
The Federal Reserve is nearing the conclusion of its two-day FOMC meeting, with Chair Jerome Powell scheduled to hold a press conference regarding the new monetary policy decision. While Wall Street expects interest rates to remain steady in July, many anticipate a rate change in September. Yahoo Finance reporter Jennifer Schonberger provides insights on what economists are eager to hear during the briefing and its potential implications for the markets.
Source: YAHOO
Reported 3 months ago
Nvidia's stock price increased by over 12% following AMD's strong quarterly results and Morgan Stanley's bullish analyst call, which classified Nvidia as a 'Top Pick.' This surge comes after a previous decline of more than 20% and signals renewed investor confidence in the AI chip sector as Big Tech companies ramp up spending on data center infrastructure.
Source: YAHOO
Reported 3 months ago
The upcoming July jobs report could activate the Sahm Rule, a recession indicator that tracks unemployment rate changes. If the unemployment rate rises to 4.2%, this would trigger the rule, which has accurately predicted past recessions. However, economists caution that this rise might be due to factors like immigration rather than a weakening economy, suggesting that the situation is not as dire as it seems. Despite these reassurances, market participants are closely watching the report for its potential impact on market sentiment.
Source: YAHOO
Reported 3 months ago
Crude oil prices are experiencing a significant increase due to rising geopolitical tensions after the assassination of Hamas leader Ismail Haniyeh in Iran. This incident has further escalated conflicts in the Middle East, leading to noticeable impacts on the oil market during trading on Wednesday.
Source: YAHOO
Reported 3 months ago
Pending home sales in the US for June experienced a significant increase of 4.8%, surpassing the expected growth of 1.4%. This represents the largest rise since December 2023, although overall sales are still down 7.8% compared to the previous year. The implications for the housing market moving forward are discussed by experts.
Source: YAHOO
Reported 3 months ago
UBS has filed a lawsuit against Bank of America for $200 million, claiming that the bank failed to cover legal costs related to risky mortgages from Countrywide Financial, which it acquired in 2008. UBS contends that Countrywide had agreed to indemnify it against claims of poor underwriting but that Bank of America neglected its indemnification obligations. The suit comes in the context of ongoing litigation over the collapsed value of mortgage-backed securities linked to the financial crisis.
Source: YAHOO
Reported 3 months ago
In a recent discussion, Michael Arone, Chief Investment Strategist at State Street Global Advisors, highlighted the recent rotation from the tech sector to small-cap stocks, driven by positive economic indicators such as lower-than-expected inflation and potential interest rate cuts by the Federal Reserve. He noted that while major tech companies continue to perform well, any minor weaknesses in their AI or cloud segments have impacted investor confidence, suggesting that this rotation may have enduring momentum. Additionally, he pointed to opportunities in the financial and insurance sectors as attractive areas for investment.
Source: YAHOO
Reported 3 months ago
According to Drew Pettit, director of US equity strategy at Citigroup, the decline in AI stocks is just beginning. He notes that investors should be cautious when stock prices rise too quickly, often driven by hype rather than understanding of the companies involved. Pettit highlighted that major tech stocks, including Nvidia and AMD, have already lost significant value, and without consistent performance to justify valuations, broader market challenges may lie ahead.
Source: YAHOO
Reported 3 months ago
In July, Matt DiLallo added shares of Enbridge and Brookfield Infrastructure to enhance his passive income portfolio, both offering attractive dividend yields. Enbridge boasts over 7% yield backed by stable cash flows and an annual dividend growth outlook of 3-5%. Brookfield Infrastructure, with over 4% yield, aims for a 5-9% annual increase in dividends, supported by strong cash flow from long-term contracts. Both companies align with DiLallo's goal of achieving financial independence through sustainable income generation.
Source: YAHOO
Reported 3 months ago
In the latest stock market updates, Humana has lowered its full-year guidance due to increasing medical costs despite beating second-quarter earnings. ASML is gaining traction following news that it will be exempt from US export bans to China. Meanwhile, Kraft Heinz reported mixed earnings, missing sales estimates for the second quarter. For in-depth analysis of these developments, viewers can check out the latest episode of Morning Brief.
Source: YAHOO
Reported 3 months ago
Fundstrat analyst Tom Lee forecasts a 5% surge in the stock market within the next week, driven by a dovish tone from the Federal Reserve's upcoming FOMC meeting. While the Fed is not expected to cut interest rates this week, indications for a possible cut in September could prompt significant gains, particularly for the S&P 500, which he estimates could rise by 200-300 points. Historical data supports this prediction, showing consistent rallies following similar Fed meetings.
Source: YAHOO
Reported 3 months ago
Delta Airlines CEO Ed Bastian announced that the airline is facing $500 million in costs due to a recent global tech outage that disrupted emergency services and affected thousands of businesses. The costs stem from lost revenue and expenses for accommodations and compensation during the incident. The outage was attributed to a bug in an update from cybersecurity firm CrowdStrike, and the U.S. Department of Transportation is investigating Delta's delayed recovery compared to other airlines.
Source: YAHOO
Reported 3 months ago
In July, wage growth for job switchers dropped to 7.2%, down from 7.7% in June, while those who remained in their positions saw pay increase by 4.8%, the slowest rise since July 2021. This narrowing pay gap indicates diminishing returns for workers changing jobs in a cooling labor market, where job openings and worker confidence have also decreased. Although less attractive for job changers, the slowing wage growth could help the Federal Reserve's efforts to combat inflation.
Source: YAHOO
Reported 3 months ago
Hyundai Motor America is recalling more than 49,000 vehicles in the U.S. due to a potential issue leading to unintended airbag deployment or deactivation. The National Highway Traffic Safety Administration (NHTSA) indicated that the wiring harness could get damaged by the second-row bench seat assembly, affecting airbag functionality. This recall primarily involves certain 2024 Santa Fe models, and an additional recall for over 12,000 vehicles is due to unintended vehicle movement in specific 2010-2013 Genesis Coupes.
Source: YAHOO
Reported 3 months ago
A 65-year-old preparing for retirement with $1.5 million in assets and Social Security benefits should carefully assess their financial situation. Although this amount might support a comfortable retirement, it's crucial to account for various factors such as Social Security timing, investment strategies, spending habits, and unexpected expenses. Consulting a financial advisor can provide guidance on building a sustainable income plan that addresses personal needs.
Source: YAHOO
Reported 3 months ago
Pinterest's stock price dropped in pre-market trading on Wednesday following a disappointing revenue forecast for the third quarter that fell short of Wall Street expectations. Although the company reported second quarter earnings that slightly exceeded revenue and profit predictions, it highlighted a decrease in advertising revenue per user.
Source: YAHOO
Reported 3 months ago
Starbucks (SBUX) experienced a rise in stock prices despite disappointing fiscal third-quarter results, where same-store sales fell short of Wall Street expectations. Yahoo Finance's Brooke DiPalma discusses the reasons behind this unexpected stock performance in a recent video.
Source: YAHOO
Reported 3 months ago
The Nasdaq Composite saw a significant increase of over 300 points at market open, as investors closely monitor the upcoming interest rate decision from the Federal Reserve on Wednesday afternoon. Market experts discuss the trends, particularly focusing on the tech-heavy Nasdaq 100 and the Russell 2000, amidst a shift in investor interest away from major tech stocks.
Source: YAHOO
Reported 3 months ago
Nvidia shares surged after being identified as a 'top pick' by Morgan Stanley, with analyst Joseph Moore highlighting that the stock's recent decline was driven by concerns likely to dissipate over time. The positive momentum is also attributed to stronger-than-expected results from competitor AMD, indicating robust demand for AI chips.
Source: YAHOO
Reported 3 months ago
AMD's shares experienced a notable increase after the company reported better-than-expected second-quarter earnings, largely attributed to robust sales of AI chips. The reported revenue reached $5.8 billion, surpassing the forecast of $5.7 billion, while adjusted earnings per share stood at $0.69, slightly above the anticipated $0.68. Yahoo Finance's tech editor, Dan Howley, provides analysis on AMD's performance and the recovery of the PC market.
Source: YAHOO
Reported 3 months ago
In a 2015 interview, billionaire Mark Cuban emphasized the need for raising the minimum wage, expressing concerns over the economic burden placed on taxpayers due to low wages. He pointed out that when businesses pay insufficient wages, it effectively transfers costs to the government and society at large. Cuban proposes that raising the minimum wage leads to fairer competition among businesses while advocating for improved savings options for low-income individuals to reduce income inequality.
Source: YAHOO