Reported 3 months ago
Tilray's shares surged as the company reported a 137% year-over-year growth in its beverage and alcohol segment in the fourth quarter. CEO Irwin Simon spoke with Yahoo Finance about transforming the beer market to attract a younger, more diverse audience and the company's strategic moves into non-alcoholic beverages and energy drinks to revitalize interest in beer.
Source: YAHOO
Reported 3 months ago
Stellantis, the maker of Jeep, is offering a new round of voluntary buyouts to its U.S. salaried workers as part of cost-cutting measures implemented by CEO Carlos Tavares. This follows previous layoffs and buyout offers due to inventory issues and weakened market margins. The company aims to reduce costs to ensure long-term sustainability while providing quality and affordable vehicles.
Source: YAHOO
Reported 3 months ago
Following JetBlue's earnings report, shares surged as the airline outlined new strategies for profitability. Scott Keyes from Going highlights how the failed merger with Spirit Airlines could be a 'blessing in disguise', enabling JetBlue to sharpen its focus on consumer preferences and transform perceptions amidst intense competition in the airline industry.
Source: YAHOO
Reported 3 months ago
Meta has reached a $1.4 billion settlement with Texas regarding allegations of unauthorized use of users' biometric data, marking the largest settlement by a single state in such cases. The lawsuit, filed in 2022, accused Meta of violating a Texas law that bans capturing and selling biometric information without consent. Attorney General Ken Paxton emphasized this settlement as a commitment to uphold privacy rights, while Meta expressed intent to further its business ventures in Texas.
Source: YAHOO
Reported 3 months ago
Luba Nikulina, chief strategy officer at IFM Investors, discusses the importance of infrastructure investing in a recent episode of Wealth! She explains that infrastructure assets, which provide essential services to the economy, are resilient and offer inflation-protected cash flows. Nikulina advises individual investors to diversify their investments across various infrastructure segments and emphasizes the need for a long-term investment perspective instead of aiming for quick profits.
Source: YAHOO
Reported 3 months ago
The U.S. Justice Department has filed a civil lawsuit against Norfolk Southern, accusing the railway company of causing delays for Amtrak's Crescent Route between New York City and New Orleans in violation of federal law. The Biden administration's focus on improving passenger rail services includes significant funding for rail projects, yet only a quarter of southbound trains on the Crescent Route reached their destinations on time last year. Attorney General Merrick Garland emphasized that Americans should not suffer travel delays due to freight carriers violating legal obligations.
Source: YAHOO
Reported 3 months ago
As the Federal Reserve wraps up its policy meeting, expectations lean towards interest rate cuts, likely starting in September. However, analysts warn that the Fed will navigate this process carefully, considering recent economic fluctuations and market responses to rate change anticipations.
Source: YAHOO
Reported 3 months ago
The S&P CoreLogic Case-Shiller Index indicates a year-over-year increase of 5.9% in US single-family home values; however, despite an increase in inventory of about 30% compared to last year, the housing sector is still not considered a buyer's market. Economist Lawrence Yun suggests improvements for buyers, especially in markets like Florida and Texas where inventory has surged by up to 70%, yet warns that conditions must further evolve to fully favor buyers.
Source: YAHOO
Reported 3 months ago
Job openings fell slightly in June to 8.18 million from 8.23 million in May, with hiring also dipping to 5.3 million. The quits rate remained at 2.1%, showing worker insecurity. Economists warn of potential turbulence in the labor market, with increasing jobless claims and a rising unemployment rate. Former Labor Secretary Seth Harris suggests this may warrant interest rate cuts from the Federal Reserve, although current market expectations indicate otherwise.
Source: YAHOO
Reported 3 months ago
This week, Wall Street eagerly anticipates earnings reports from major tech companies such as Microsoft, Meta, Apple, and Amazon. Rockland Trust's chief investment officer, David Smith, highlighted the importance of this 'data-intensive' period, which is compounded by recent disappointing results from firms like Alphabet and Tesla, leading to diminished investor appetite for poor earnings. Smith emphasizes the varying significance of AI investments among the tech giants, warning against generalized assumptions.
Source: YAHOO
Reported 3 months ago
PayPal's Q2 earnings exceeded analyst expectations, raising questions about the current state of consumer spending. Despite concerns regarding consumer behavior, PayPal remains optimistic, suggesting a potential stabilization in spending patterns. Yahoo Finance's Seana Smith discusses the implications of these results for understanding consumer financial health.
Source: YAHOO
Reported 3 months ago
Former President Donald Trump's selection of JD Vance as his running mate is gaining traction among Silicon Valley investors due to his strong connections with tech leaders. Meanwhile, the entry of Kamala Harris into the race raises questions about how this might affect the tech industry's support.
Source: YAHOO
Reported 3 months ago
Meghan Fitzgerald, CEO of Grey Ghost Advisors, expresses an 'extremely bullish' outlook on the biopharma industry, citing that significant deals totaling $1 billion have occurred this year. She notes that major pharmaceutical companies like Pfizer and Merck have surpassed earnings expectations, with Pfizer's stock dropping 50% since its peak in 2021, indicating opportunities for investors due to low price multiples compared to expected returns. Fitzgerald believes that the industry fundamentals remain strong, regardless of the upcoming elections.
Source: YAHOO
Reported 3 months ago
As the Federal Open Market Committee (FOMC) prepares for upcoming meetings, experts speculate on potential interest rate cuts amid current inflation trends. Analysts suggest that while a July rate cut appears unlikely, the Fed may consider cuts in the latter half of the year, depending on inflation data. Financial institutions often adjust their rates in response to the Fed’s actions, affecting various banking products. Consumers are advised to evaluate their savings accounts, consider high CD rates, and postpone major purchases to benefit from any potential rate changes.
Source: YAHOO
Reported 3 months ago
In May, US home prices reached a record high with the S&P CoreLogic Case-Shiller National Home Price Index showing a 5.9% increase year-over-year, though this marked a decline from the previous month's 6.4% growth. The limited housing supply continues to elevate prices, and despite a slowing annual gain, some experts remain optimistic about the market's performance as 2023 progresses. However, affordability issues persist, with sales of existing homes declining for the fourth consecutive month, signaling challenges for potential buyers.
Source: YAHOO
Reported 3 months ago
Boeing is set to announce its second-quarter earnings, with analysts predicting a potential loss due to ongoing production challenges and scrutiny from the Federal Aviation Administration. As the company attempts to stabilize its operations, investors are wary of the financial impact this may have.
Source: YAHOO
Reported 3 months ago
Warren Buffett's Berkshire Hathaway has significantly reduced its investment in Bank of America, selling over $3 billion worth of shares in the past month, which now brings its total holdings down to approximately 961.5 million shares. This move has prompted discussions about the implications for both the bank and the broader market.
Source: YAHOO
Reported 3 months ago
Delta Air Lines is considering seeking legal compensation from CrowdStrike after a major outage disrupted its operations. Reports indicate that the airline incurred significant costs, with estimates suggesting around $80,000 spent per canceled flight to accommodate affected customers through hotels and alternative travel arrangements. Experts weigh in on the potential financial implications of Delta's actions in the wake of this incident.
Source: YAHOO
Reported 3 months ago
In a recent discussion, JPMorgan's head of investment strategy, Jake Manoukian, emphasized that while the initial excitement around AI may be waning, significant investment in this technology is just beginning. With big tech companies expected to contribute $200 billion towards AI development this year, the analyst noted that their robust cash flow positions them favorably to 'build the ballpark' of AI, marking a stark contrast to the internet boom of the early 2000s.
Source: YAHOO
Reported 3 months ago
The June JOLTS report indicated a slight decline in job openings to 8.18 million, down from a revised 8.23 million in May, while total separations remained relatively stable at 5.1 million. In contrast, the Consumer Confidence index rose significantly to 100.3 in July, a notable increase from June's 97.8, reflecting improved sentiments among consumers.
Source: YAHOO
Reported 3 months ago
JetBlue's Q2 earnings surpassed expectations, benefitting from significant cost-cutting measures. However, analysts like Citi's Steve Trent express skepticism due to a notable year-over-year decline and raise questions about the airline's third-quarter guidance. With new leadership and initiatives in play, he emphasizes the importance of closely monitoring JetBlue's future performance, particularly regarding cost management and revenue generation.
Source: YAHOO
Reported 3 months ago
In the latest roundup of trending stocks, SoFi Technologies (SOFI) sees a surge in shares due to strong earnings, while Diageo (DEO) experiences a decline from its first annual sales drop since 2020, affected by poor performance in Latin America and the Caribbean. Meanwhile, Tilray (TLRY) enjoys increased shares as its beverage and alcohol sectors propel Q4 net revenue.
Source: YAHOO
Reported 3 months ago
PayPal (PYPL) saw its shares rise following the announcement of its Q2 earnings that exceeded expectations in both revenue and profit, with reported revenue of $7.89 billion outperforming estimates of $7.82 billion. Adjusted earnings per share also surpassed projections at $1.19, leading the company to raise its full-year profit outlook, which further fueled investor confidence.
Source: YAHOO
Reported 3 months ago
In its second quarter results, Pfizer (PFE) exceeded revenue and earnings expectations while raising its full-year outlook. Similarly, Merck (MRK) also surpassed estimates but adjusted its profit guidance downwards. The discussion highlights key factors for both companies, including developments in cancer therapies and product pipelines.
Source: YAHOO
Reported 3 months ago
Meta Platforms has agreed to pay $1.4 billion to settle a Texas lawsuit alleging the company illegally collected biometric data from millions of citizens through its facial recognition technology without consent. This settlement is the largest recorded from a single state, resulting from a lawsuit that invoked Texas' biometric privacy law. Texas Attorney General Ken Paxton emphasized the state's commitment to holding major tech companies accountable for privacy violations.
Source: YAHOO