Reported 3 months ago
Growth investors may find Viking Therapeutics (NASDAQ: VKTX) an attractive option as it has surged 247% this year, surpassing Nvidia's impressive 126% gain. Viking is focused on developing weight-loss treatments and has recently advanced its candidate VK-2735 into late-stage clinical trials, generating excitement in a burgeoning $100 billion market. While it poses more risk due to its early-stage status and lack of existing revenue, the company's promising developments could make it a worthwhile addition for those willing to take on some risk.
Source: YAHOO
Reported 3 months ago
Xiamen Xiangyu Co., a major commodity trader in China, is grappling with the consequences of Jiangsu Delong Nickel Industry Co.'s financial troubles, a key client that has drastically affected the metals sector. Following news of Jiangsu Delong's restructuring and legal claims, Xiangyu's shares dropped significantly. The parent's group will assume any claims related to Jiangsu Delong, which was Xiangyu's largest metals customer in 2023, with substantial trade volumes involved.
Source: YAHOO
Reported 3 months ago
China's bond market is experiencing a dramatic rally, with sovereign debt yields falling to record lows, raising concerns for the People’s Bank of China (PBOC). As the central bank faces the challenge of balancing a potential bubble and low borrowing costs to stimulate the economy, the recent interest rate cuts have only added momentum to the bond buying spree. Analysts warn that if the market becomes imbalanced, the PBOC may need to intervene by selling bonds to reverse the trend.
Source: YAHOO
Reported 3 months ago
This article highlights two exceptional growth stocks, Nvidia and Palantir Technologies, which are seen as opportunities for long-term investment that could yield significant returns. Nvidia, a leader in AI chip production, is expected to continue its success due to high demand for its products, while Palantir is experiencing rapid growth in its enterprise AI software platform, particularly in the U.S. commercial sector. Both companies are positioned well in their respective markets to drive future earnings.
Source: YAHOO
Reported 3 months ago
Mercer LLC maintains its significant yen exposure in its multi-asset funds, betting on multiple interest rate increases by the Bank of Japan (BOJ) over the next few years. Cameron Systermans, head of multi-asset for Asia at Mercer, believes the BOJ will raise its benchmark rate to 1.5% or higher, expecting the first hike this year. Despite negative carry costs associated with this position, Mercer holds a consistent global view and is optimistic about achieving sustainable inflation growth.
Source: YAHOO
Reported 3 months ago
As the Federal Reserve's July meeting approaches, investors are betting that officials will set the stage for a potential interest rate cut in September. Although the Fed is not expected to ease monetary policy this week, discussions suggest it may soon shift focus, particularly with recent inflation data improving. Economists highlight the need for further monitoring of economic indicators, notably rising unemployment. Despite mixed opinions on whether action should be taken immediately, there is consensus that September appears to be a more likely timeline for a rate change.
Source: YAHOO
Reported 3 months ago
Warren Buffett continues to favor Coca-Cola and American Express for their robust performance and resilience in volatile markets. Coca-Cola reported a strong 15% organic revenue growth and raised its annual guidance while leveraging local consumer data for efficiency. Meanwhile, American Express achieved an 8% revenue increase and a 21% rise in adjusted EPS, confident enough to increase its marketing spend while maintaining profits. Both companies reflect Buffett's preference for stable, efficient, and shareholder-friendly businesses.
Source: YAHOO
Reported 3 months ago
Israel is deliberating its response to a recent deadly rocket attack in the Golan Heights, attributed to Hezbollah. The assault killed twelve Druze children, escalating tensions in the region. Prime Minister Netanyahu met with security officials to discuss possible retaliatory actions, while the U.S. urged both sides to avoid further escalation. Israeli military operations may aim for a limited response to avoid broad conflict while simultaneously addressing the ongoing war in Gaza.
Source: YAHOO
Reported 3 months ago
Australia is preparing to implement strict climate disclosure rules affecting over 6,000 companies, with fears of compliance costs exceeding A$3 million. Analysts warn that the new regulations could significantly impact businesses, causing hesitation among organizations about how to comply without being burdened. The phased enforcement will help Australia transition from being a climate policy laggard to a leader in sustainability reporting, but many firms currently lack comprehensive climate disclosures.
Source: YAHOO
Reported 3 months ago
As brewers like Heineken report disappointing second-quarter results, concerns rise about the overall performance of the sector. In contrast, car manufacturers face their own hurdles with Volkswagen and BMW expected to reveal a decline in profits amid a turbulent auto industry. Upcoming earnings reports from companies like Diageo, AB InBev, and Airbus are poised to spotlight industry-specific challenges and possible recovering trends, particularly influenced by events such as the Olympics and the Euro 2024 football tournament.
Source: YAHOO
Reported 3 months ago
This article highlights three lesser-known high-yield dividend stocks: Black Hills, Phillips 66, and Clearway Energy. These companies boast strong dividend growth potential and stability, with Black Hills offering a 4.5% yield, Phillips 66 a 3.3% yield along with significant reinvestment initiatives, and Clearway Energy presenting a high yield of 6.4% backed by forecasts for continued dividend increases. These stocks are positioned well for long-term investment and could provide investors with reliable income.
Source: YAHOO
Reported 3 months ago
BetMGM, the U.S. sports-betting service, forecasts losses comparable to the first half of the year as it intensifies investments in marketing and customer experience. The joint venture between MGM Resorts and Entain recorded a core loss of $123 million in the first half of 2024 and aims for substantial revenue growth amid fierce competition in the market. CEO Adam Greenblatt emphasized that 2024 will focus on enhancing customer engagement, although analysts predict challenges in achieving long-term profitability targets.
Source: YAHOO
Reported 3 months ago
Freeport-McMoRan's stock has declined nearly 18% as copper prices fell, creating a potential buying opportunity. Key reasons to invest include the company's innovative leaching initiative that reduces production costs, plans for significant copper output growth through expansion projects, and robust long-term demand for copper driven by electrification trends and industry needs. Despite recent performance challenges, the stock remains attractive with favorable valuations.
Source: YAHOO
Reported 3 months ago
A Reuters poll indicates China's factory activity likely contracted for the third consecutive month in July, with the official purchasing managers' index expected to drop to 49.3 from June's 49.5. The ongoing property crisis and job insecurity have hampered economic growth, prompting expectations for further government stimulus. While exports have provided some support, domestic consumption remains weak due to falling property values.
Source: YAHOO
Reported 3 months ago
Ethiopia's central bank has lifted restrictions on the birr, allowing it to trade freely to facilitate negotiations with the IMF for over $10 billion in funding and debt relief. The move follows significant devaluation of the currency, which has struggled under strict controls, impacting investment post-civil war. This decision mirrors similar reforms in Egypt and is crucial for securing international financial support as Ethiopia works to stabilize its economy.
Source: YAHOO
Reported 3 months ago
Taiwan's economic growth in Q2 2024 is expected to slow to 4.8%, down from 6.56% in the previous quarter, despite strong exports driven by AI technology. A Reuters poll indicates this slowdown is influenced by soft domestic consumption, even as tech sector exports rose by 9.9%. Predictions for GDP expansion range from 2.5% to 6.8% ahead of the government’s preliminary data release. The country’s growth outlook has been adjusted upward by both the government and the Asian Development Bank, thanks to strong chip exports.
Source: YAHOO
Reported 3 months ago
Alibaba Group's shares saw a significant increase of up to 5.8% after announcing plans to implement a new basic service fee of 0.6% on confirmed transactions for its vendors on the Tmall and Taobao platforms. This fee structure is expected to enhance core merchant revenues and mirrors similar fee changes made by other major e-commerce platforms. The policy will be effective from September 1, with potential waivers for smaller merchants.
Source: YAHOO
Reported 3 months ago
Japan's top economic council has urged the government and the Bank of Japan to adjust their policies in light of the yen's recent depreciation, which is negatively impacting consumer spending. With consumption having declined for four consecutive quarters, the council emphasized the need to address rising living costs and boost purchasing power. They highlighted the implications of a weak yen on the economy, particularly as it affects import prices, and outlined plans for potential government initiatives such as raising the minimum wage and providing aid to low-income households.
Source: YAHOO
Reported 3 months ago
Diageo is expected to report its first annual sales decline since the onset of the COVID-19 pandemic, with analysts predicting a 0.2% drop in net sales for the year ending June 30. This downturn follows a profit warning that shook investor confidence and marks ongoing struggles in its North American and Latin American markets, particularly due to shifts in consumer preferences and inventory buildup. As a result, investors are questioning the company's growth strategy moving forward.
Source: YAHOO
Reported 3 months ago
Japan is projected to achieve its primary balance target in the fiscal year starting April 2025, finally making progress after numerous delays since 2011. The expected surplus of approximately ¥800 billion (around $5.2 billion) would represent a turnaround from a predicted deficit of ¥1.1 trillion. This uptick is attributed to increased tax revenues despite ongoing strains from public debt, which is expected to be exacerbated by rising interest rates.
Source: YAHOO
Reported 3 months ago
The ambitious push for electric vehicle (EV) gigafactories has encountered significant challenges as massive investments surge ahead of demand, leading to an oversupply of battery production. Companies like SK On and LG Energy Solution are reporting major losses and reducing investments due to declining sales in a competitive market, particularly in the West, where EV adoption lags behind expectations. In contrast, while Chinese manufacturers have expanded rapidly due to domestic demand, they now face a glut in production capacity. As prices for batteries plummet, the market dynamics may leave manufacturers vulnerable and potentially hamper future investments necessary for sustainable growth in the electrified economy.
Source: YAHOO
Reported 3 months ago
Philips reported better-than-expected second-quarter results, with adjusted earnings rising 9.3% to 495 million euros, thanks to a successful restructuring plan and insurance income related to its Respironics product liability claims. The company's EBITA margin improved to 11.1%, exceeding analyst forecasts, as it achieved significant productivity savings and operational cash flow improvements.
Source: YAHOO
Reported 3 months ago
The United Arab Emirates has issued its first lottery license, paving the way for potential legalization of casinos and other gaming operations. The license is held by The Game LLC, and while gambling remains illegal in the UAE under Islamic law, this development could attract more tourists and investments, enhancing the commercial gaming landscape in the region.
Source: YAHOO
Reported 3 months ago
Ola Electric, India's largest e-scooter manufacturer backed by SoftBank, is set to launch an initial public offering (IPO) seeking ₹61.46 billion ($734 million). The share price is expected to range from ₹72 to ₹76, with bidding opening from August 2 to 6, and trading starting August 9. The funds will support the company's expansion plans, which include increasing production capacity and investing in research and development as the demand for electric vehicles grows in India.
Source: YAHOO
Reported 3 months ago
US Secretary of State Antony Blinken expressed significant concerns regarding the Venezuelan presidential election results, emphasizing the need for a transparent vote count following Nicolás Maduro's reelection. Blinken stated that the reported results may not reflect the true will of the Venezuelan people, particularly in light of conflicting exit polls. The international community is watching closely as accusations of electoral fraud and repression mar Venezuela's elections, with legitimate electoral processes being crucial for the potential lifting of US sanctions.
Source: YAHOO