Reported 4 months ago
Mets manager Carlos Mendoza discussed the decision to option Brett Baty and Christian Scott to Triple-A Syracuse due to the team's recent struggles and upcoming schedule. Baty's inconsistent performance at the plate led to his demotion despite success in the minors, while Scott, who has pitched well in his big-league career, is being sent down temporarily due to scheduling needs. Mendoza expressed confidence in both players' abilities and expects them to return to the team in the future.
Source: YAHOO
Reported 4 months ago
The article discusses why the author, Leo Sun, is not selling his Amazon stock despite a 500% gain. Sun initially invested in Amazon in 2016 and has seen significant growth in the company's revenue and earnings since. He believes in Amazon's continued growth potential due to factors such as its expanding margins, stable growth rates, and long-term potential in the e-commerce and cloud infrastructure markets. Sun sees Amazon as a solid long-term investment despite potential challenges and competition.
Source: YAHOO
Reported 4 months ago
The Dow Jones Industrial Average jumped 575 points on the last trading day of May, finishing strong for the month alongside other US averages. April's PCE inflation data met expectations, sparking discussions about the possibility of higher interest rates persisting. Yahoo Finance Markets Reporter Josh Schafer provided insights on the market takeaways for May 31, noting the tech trade's pause and the impact of recent earnings releases on the market. Additionally, the article discussed the importance of breadth in market performance and how shifts in fed policy and inflation data could influence future market trends.
Source: YAHOO
Reported 4 months ago
A report by the Government Accountability Office suggested that institutional investors may have contributed to the increase in home prices since 2009, particularly through bulk purchasing of foreclosed homes for rental housing, aided by their access to capital and technological advancements. While the impact on homeownership opportunities is challenging to determine due to limited data and inconsistent definitions of institutional investors, studies show that as of June 2022, institutional investors collectively owned an estimated 170,000-300,000 homes, with a significant presence in the single-family rental market, especially in Sunbelt states. Despite concerns, an analysis indicates that institutional investors (owning 1,000 or more single-family homes) make up only around 1% of the total U.S. housing stock, with smaller investors dominating the market in most metro areas.
Source: YAHOO
Reported 4 months ago
Experts suggest that the Federal Reserve may not consider cutting interest rates until they see at least three moderate inflation gains, possibly ruling out rate cuts in June and July and targeting September as a potential easing point if inflation trends align. The Fed's target of reaching a 2% inflation rate could potentially be achieved by 2025, with some estimates suggesting it may not happen until mid-2027, although progress in bringing down inflation could be seen sooner due to factors like weakening shelter inflation and slowing domestic growth impacting wages and labor markets. The consumer is viewed as being in decent shape, with moderate income growth and a solid labor market supporting stable consumer spending growth of around 2%.
Source: YAHOO
Reported 4 months ago
The S&P 500 has been rising alongside former President Trump's election odds, with the market becoming increasingly correlated to his chances of winning as they move higher, according to LPL Financial Chief Technical Strategist Adam Turnquist. In contrast, President Biden's odds have remained negatively correlated to the market. The correlation has strengthened as Trump's odds eclipsed Biden's, indicating the market may be warming up to a potential Trump victory in the upcoming election. Additionally, large-cap tech stocks have been lagging, raising questions about the sustainability of the rally and the market's overall performance.
Source: YAHOO
Reported 4 months ago
Marvell Technology's stock dropped 10.5% due to disappointing first-quarter results, where revenue declined 12% and adjusted earnings per share fell 22.5%. The decline was primarily attributed to weak performance in segments other than AI-related data centers, which are experiencing significant growth. Despite the setback, analysts remain optimistic about Marvell's future potential in the AI sector as it continues to innovate in custom ASICs and anticipates growth in data centers, networking, and carrier infrastructure in the second half of the year.
Source: YAHOO
Reported 4 months ago
Boston Celtics center Kristaps Porzingis, who has been out due to a right calf strain since April, was seen shooting 3-pointers at practice ahead of the 2024 NBA Finals against the Dallas Mavericks. Celtics head coach Joe Mazzulla mentioned that Porzingis is progressing well and participating in some drills, but his status for the series opener remains uncertain. However, his potential return would provide a significant boost to the Celtics, given his scoring ability in the paint, 3-point shooting, and defensive prowess.
Source: YAHOO
Reported 4 months ago
Source: INVESTORS
Reported 4 months ago
Webtoon Entertainment, an online comics platform owned by South Korean company Naver Corp, disclosed in its United States IPO filing that it achieved profitability in the first quarter and grew revenue by 5%. Founded in 2005 by CEO Junkoo Kim, the platform has 170 million monthly active users and offers a library of web novels and comics. Webtoon's net income for the quarter was $6.2 million, with revenue reaching $326.7 million. The company is set to list its shares on Nasdaq under the symbol "WBTN," with Goldman Sachs, Morgan Stanley, J.P. Morgan, and Evercore ISI as the lead underwriters.
Source: YAHOO
Reported 4 months ago
Scott Foley proudly brought his 14-year-old daughter Malina as his plus-one to a screening of his film in New York City, where they posed together looking all grown up. Foley, known for his roles in "Scandal" and "Felicity," also shares sons Keller and Konrad with his wife Marika Domińczyk. In a 2020 interview, Foley emphasized the importance of prioritizing his family, stating that they make him happier than anything else and that establishing roots with them is crucial to him.
Source: YAHOO
Reported 4 months ago
Major U.S. airlines have declined to commit to boosting travel benefits for military personnel, according to Transportation Secretary Pete Buttigieg. Despite his urging in April, airlines such as Delta Air Lines, American Airlines, and United Airlines have not made clear commitments to enhance benefits for service members and their families. The airlines argue that they already offer extensive benefits to military personnel and are hesitant to formalize these commitments in customer service plans, which could lead to USDOT enforcement actions if not upheld. Airlines for America, a trade group representing U.S. passenger airlines, criticized USDOT's dashboard for not fully reflecting the benefits carriers already provide to service members.
Source: YAHOO
Reported 4 months ago
Actress Lisa Rinna debuted an androgynous buzz cut in a daring fashion statement for Only Natural Diamonds' spring/summer 2024 digital issue, aiming to shock people with her style choices. Rinna, known for pushing boundaries with her hairstyles and clothing, showcased various wild looks and hairstyles in the shoot. Despite her bold fashion choices, Rinna treasures classic jewelry pieces gifted by her husband, Harry Hamlin, including her wedding ring and a Tiffany & Co. diamond cross necklace.
Source: YAHOO
Reported 4 months ago
Source: INVESTORS
Reported 4 months ago
Dell Technologies has heavily invested in AI technology, with President Arthur Lewis highlighting the company's competitive edge in the AI space. Lewis mentions three key design features that set Dell's servers apart, emphasizing their consistency in architecture, significant network capabilities, and energy efficiency. He claims that Dell is the only company in the world capable of delivering a system optimized for AI, specifically in generative AI systems. Despite competition from other tech giants like Supermicro and Lenovo, Dell remains focused on innovation to meet customer needs.
Source: YAHOO
Reported 4 months ago
BofA Securities Senior Consumer Goods Analyst Bryan Spillane predicts that organic food sales may start flirting with negative growth due to changes in consumer behavior and lack of volume recovery. Spillane highlights a disconnect between macro data and consumer staples companies' performance, with volumes declining across sectors like packaged food, beverages, household products, and personal care, despite expectations for consumption growth. The article discusses the challenges companies may face in maintaining sales with declining volumes and the potential need for price adjustments to drive consumer interest.
Source: YAHOO
Reported 4 months ago
The FDA has warned parents to avoid powdered infant formula from a Texas dairy producer, Dairy Manufacturers Inc., specifically the Crecelac Infant Powdered Goat Milk formula, due to the presence of cronobacter bacteria, which can be dangerous for babies. This warning follows the recall of the Crecelac and Farmalac formulas by the company, as they had not received FDA approval for sale in the U.S. Although cronobacter was not detected in the Farmalac formula, parents are advised to refrain from using it as well. Cronobacter can lead to severe infections in infants, including meningitis and nervous system injuries, and was previously linked to recalls and shortages in the infant formula industry in 2022.
Source: YAHOO
Reported 4 months ago
The article discusses how Wall Street's hedging trades are at risk due to an event-filled week, marked by Treasury auctions causing bond yields to fluctuate, impacting balanced portfolios and hedging strategies. With the Federal Reserve not planning to cut interest rates soon, the S&P 500 broke its five-week climb, while bonds fell despite mild inflation data. The article highlights challenges in diversifying assets and the importance of alternative strategies amid changing market dynamics, indicating a shift towards absolute-return trades for risk mitigation.
Source: YAHOO
Reported 4 months ago
Blake Lively and Ryan Reynolds revealed that their fourth child is named Obi, which has a deep and meaningful origin as well as a connection to a character from Gossip Girl, a series in which Blake starred. The name "Obi" is short for a longer name and has African origins, meaning "heart." The couple, who also have three daughters, had kept the baby's name and gender a secret until their public announcement.
Source: YAHOO
Reported 4 months ago
The Detroit Pistons have fired general manager Troy Weaver after a disastrous 2023-24 season in which they finished with a 14-68 record, the worst in the NBA. Weaver, who had been with the team for four seasons, was let go as the franchise looks to reshape its future under new team president Trajan Langdon. Weaver leaves behind a roster that includes recent high draft picks like Cade Cunningham, but the team has struggled to find success on the court in recent years.
Source: YAHOO
Reported 4 months ago
Shares of Dell Technologies are falling despite exceeding expectations in its first quarter results. Dell's Infrastructure Solutions Group President discusses the margin pressure on the stock, highlighting the momentum in the AI infrastructure business and the company's continued growth trajectory. However, the weak guidance outlook is attributed to nonlinear demand and supplier constraints affecting the ability to forecast growth, particularly in the AI server business. Dell anticipates growth in its server business for several quarters to come, but the market is concerned about margins and the uncertainty in demand forecasting.
Source: YAHOO
Reported 4 months ago
Meta's Facebook has reported attracting the highest number of young adults in three years, with over 40 million U.S. and Canadian adults aged 18 to 29 checking the app daily. This surge in young adult engagement reflects Meta's efforts to revitalize the platform's appeal to a younger audience amidst competition from TikTok. Meta noted significant growth in app usage among young adults over the past five quarters, driven by sections like Marketplace, Groups, and Dating. Despite a decline in teen usage, Facebook continues to maintain a relatively stable user base among all U.S. adults.
Source: YAHOO
Reported 4 months ago
Melania Trump and her son Barron were in Manhattan when the guilty verdict in Donald Trump's hush money trial was revealed, being smuggled into Trump Tower where the former president's close associates had gathered. The atmosphere was described as gloomy, with the family rallying around Trump despite the mood being viewed as a downer at Mar-a-Lago. Despite Melania and Ivanka's absence during the trial, they are reportedly supportive behind the scenes.
Source: YAHOO
Reported 4 months ago
AMA's Director of Racing, Mike Pelletier, appeared on SMX Insider to explain the differing penalties given to Tom Vialle and Haiden Deegan at Fox Raceway, where Vialle was penalized for reentering the track unsafely while Deegan was not penalized for similar actions. Pelletier clarified that penalties are based on whether a rider gains an advantage, fails to slow down, or accelerates unsafely off track, with Deegan ultimately not receiving a penalty due to evidence showing he slowed and lost time. Deegan won both motos at Fox Raceway, and Pelletier defended the delay in announcing the decision, citing the need to review all available footage thoroughly.
Source: YAHOO