Reported 4 months ago
Anglo American has rejected BHP Group's request to extend the deadline for talks on its $49 billion takeover offer. BHP now has until 5 p.m. BST Wednesday to commit to the offer or walk away for six months. The rejection has caused Anglo American's stock to drop by about 1.9%, while BHP's stock remains flat. Analysts suggest that further pressure may be on Anglo American as the probability of an acquisition is repriced, but a hostile takeover from BHP is deemed unlikely due to the deal's complexity. This development reflects the ongoing consolidation in the multinational mining sector, impacting commodities like diamonds, platinum, copper, and iron ore.
Source: YAHOO
Reported 4 months ago
A volcano in southwestern Iceland erupted for the fifth time since December, spewing red lava that threatened the town of Grindavik and led to the evacuation of the Blue Lagoon geothermal spa. The eruption, which followed a series of earthquakes, was the most vigorous in the area so far, with lava shooting 50 meters into the sky from a 3.5-kilometer-long fissure. Protective barriers were able to divert the lava flow away from the town, and workers and residents were ordered to leave. The eruption did not initially pose a threat to aviation, but the situation was being closely monitored. Iceland, accustomed to volcanic activity, has dealt with similar situations in the past, with the most notable recent eruption being the 2010 Eyjafjallajokull volcano eruption.
Source: YAHOO
Reported 4 months ago
Source: INVESTORS
Reported 4 months ago
A woman who is pregnant with twins shared a viral video showing how her massive pregnancy bump is almost unnoticeable from behind. She revealed that at the gym, men often hit on her until they see her belly, which surprises them and stops them from flirting. The fitness coach advocates for pregnant women to continue working out and lifting weights, emphasizing the importance of adjusting the weights accordingly. Despite the shock at her baby shower, many are amazed by the size of her bump and wish her well.
Source: YAHOO
Reported 4 months ago
American Airlines' stock took a hit after the company revised its second quarter sales outlook, with shares sinking almost 10%. The airline also announced its chief commercial officer's departure next month. The revised outlook included a significant cut in adjusted EPS for Q2, indicating challenges in summer travel and issues with revenue and profit. This setback for American Airlines contrasts with the performance of other major airlines like Delta and United, which have not issued revenue warnings and are performing well. The broader airline industry is facing challenges with summer travel demand and consumer behavior, with uncertainties remaining for ultra-low-cost carriers as well.
Source: YAHOO
Reported 4 months ago
In Week 2 of WNBA action, the Connecticut Sun are dominating as the league's only undefeated team at 6-0, with DeWanna Bonner leading the way. Napheesa Collier is standing out early in the season with impressive stats for the Lynx, while Caitlin Clark is starting to show chemistry with Temi Fagbenle in Indiana. Despite a tough shooting night against Connecticut, the Phoenix Mercury are looking strong with new additions. The Aces are awaiting Chelsea Gray's return but are managing well with other key players stepping up.
Source: YAHOO
Reported 4 months ago
Minnesota Timberwolves won Game 4 against the Dallas Mavericks 105-100, forcing a Game 5 in the series. The article discusses how Minnesota needs continued strong performances from key players Anthony Edwards and Karl-Anthony Towns to extend the series, highlighting their improvement in Game 4. It also mentions the impact of Dallas missing key player Lively due to injury and the potential for an exciting series ahead.
Source: YAHOO
Reported 4 months ago
The Dow Jones Industrial Average opened 300 points lower, with the Nasdaq Composite and S&P 500 also in the red at the market open. The Morning Brief hosts Seana Smith, Brad Smith, and Senior Markets Reporter Jared Blikre discussed the losses across major indexes and sectors. Despite the NASDAQ reaching a record high, there were overall losses across the market, with energy performing relatively better. Jared Blikre also highlighted the performance of different sectors and the impact of the bond market on equities.
Source: YAHOO
Reported 4 months ago
After a touching reunion with the Knicks via a trade deadline swap, Alec Burks impressed in the playoffs despite struggling in the regular season, leading to questions about whether the team should re-sign him. Burks' strong postseason performance may attract interest from other teams, but with the Knicks having bigger priorities and Burks nearing 33, it's uncertain if he will fit into their plans. Despite the nostalgia of keeping Burks, it's likely he will part ways with the team unless they can offer him a significant role and salary, which seems unlikely given the current roster dynamics and financial considerations.
Source: YAHOO
Reported 4 months ago
Bank OZK's shares experienced their most significant decline since 2020 after Citigroup downgraded the stock to 'sell,' citing concerns over specific loans tied to projects in San Diego and Atlanta, as well as broader worries regarding life-science construction lending. The analyst's double downgrade led to a 14% drop in shares on Wednesday, the most significant decline since March 2020, with regional bank stocks also falling by 2.1%. Despite the concerns raised, the company did not respond to requests for comment, and analysts remain divided on their recommendations for the stock.
Source: YAHOO
Reported 4 months ago
Energy Transfer has agreed to acquire WTG Midstream in a $3.25 billion deal, with a cash payment of $2.45 billion and issuance of around 50.8 million Energy Transfer common units to the sellers. This acquisition from Stonepeak affiliates, the Davis Estate, and Diamondback Energy will give Diamondback about $375 million. WTG Midstream provides midstream services in the Permian Basin, with a 6,000-mile pipeline network and eight processing plants. The deal is expected to close in the third quarter of 2024, subject to regulatory approval.
Source: YAHOO
Reported 4 months ago
A group of car battery makers, including Banner, Clarios, Exide, FIAMM Energy Technology (FET), and Rombat, along with trade body Eurobat and Kellen, are set to challenge EU accusations of running a cartel to fix battery prices at a closed hearing in Brussels. The European Commission accused them of colluding to increase automotive starter battery prices from 2004 to 2017 using the Eurobat Premium system. The companies risk fines up to 10% of their global turnover if found guilty.
Source: YAHOO
Reported 4 months ago
The reality TV industry is facing a downturn with scarce job opportunities, budget cuts, and risk-averse executives hesitant to take creative risks on untested concepts. Despite initial expectations that reality TV would boom during the 2023 actors and writers strikes, the opposite has occurred, leaving many veteran producers and workers unemployed. Budgets for greenlit shows are being slashed, affecting salaries offered to workers, while some production companies are diversifying revenue streams to weather the market slump. Overall, the reality TV industry is described as being on life support, with concerns about the future makeup of the workforce and the viability of the business in the coming years.
Source: YAHOO
Reported 4 months ago
Dick's Sporting Goods shares surged after the company raised its full-year earnings outlook following better-than-expected first-quarter results, with Executive Chairman Ed Stack emphasizing the retailer's momentum and unique product offerings. The retailer's stock rose nearly 10% in pre-market trading due to increased transactions and successful turnaround efforts led by CEO Lauren Hobart, including store renovations and new experiential concepts like House of Sport locations. Dick's now expects comp sales to rise 2-3% for the year with EPS between $3.30-$3.35 to $3.75. The company's demand profile and strong product pipeline from brand partners are driving consumer interest, with a focus on innovative products like those showcased at Nike's recent Paris Innovation Summit.
Source: YAHOO
Reported 4 months ago
Software company N-Able, valued at about $2.5 billion, is reportedly exploring a sale after attracting acquisition interest. The U.S.-based company, with major investors including Silver Lake and Thoma Bravo, is running a sale process with participation from software sector peers and private equity firms. Potential suitor Barracuda Networks, owned by KKR, is among those interested. N-Able's shares rose over 8% on the news. The company provides IT software to service providers, with 25,000 clients globally. Take-private deal volumes have surged this year, with other firms like PowerSchool and Envestnet also considering sales.
Source: YAHOO
Reported 4 months ago
Robinhood Markets has announced a $1 billion share buyback plan over a three-year period, marking its first stock buyback program. The move reflects the company's confidence in its business and its efforts to attract and retain investors by expanding beyond its startup phase. Robinhood's year-to-date gains and strategic decisions are driving this buyback plan, highlighting its intention to grow, reinvest, and introduce new products.
Source: YAHOO
Reported 4 months ago
The article discusses why Dell Technologies (DELL) is considered a top value stock for long-term investors. Dell is a leading provider of servers, storage, and PCs, offering secure, integrated solutions spanning from the edge to the cloud. With a Zacks Rank #2 (Buy), a Value Style Score of B, and a VGM Score of A, Dell's current forward P/E ratio, PEG ratio, Price/Cash Flow ratio, and Price/Sales ratio make it an attractive option for value investors. Positive earnings trends, with three analysts revising their earnings estimates upwards for fiscal 2025, further support Dell's potential for investors seeking solid earnings and valuation metrics.
Source: YAHOO
Reported 4 months ago
The article discusses why Dell Technologies (DELL) is considered a top value stock for long-term investment. Dell is a leading provider of servers, storage, and PCs with a Value Style Score of B and VGM Score of A. It is a Zacks Rank #2 (Buy) stock trading at a forward P/E of 21.4X, lower than the industry average of 26.3X, and has positive earnings growth potential with three analysts revising estimates upwards for fiscal 2025. Value investors are encouraged to consider DELL for its solid rankings, earnings performance, and favorable valuation metrics.
Source: YAHOO
Reported 4 months ago
The stock market slid as the Dow Jones Industrial Average led the decline by dropping over 1% and shedding more than 400 points, while the S&P 500 fell over 0.7% and the Nasdaq Composite declined 0.6% due to rising Treasury yields causing investor nervousness over potential interest rate changes. Stocks are dropping as investors worry about a possible Federal Reserve decision to keep rates higher for longer amid concerns about a jump in US bond yields after a recent government debt auction faltered. Conversely, Salesforce stock tumbled after a revenue forecast disappointment, while Netflix stock rose following bullish calls on its growth trajectory.
Source: YAHOO
Reported 4 months ago
Federal investigators are reportedly preparing to file an indictment against Sean "Diddy" Combs after he was named in eight civil lawsuits, with sources indicating that his accusers have been contacted and may testify in front of a federal grand jury in New York City. The investigation, conducted by Homeland Security Investigations (HSI), is ongoing and aims to gather thorough evidence to ensure a potential indictment against Combs is solid. Several individuals have filed lawsuits alleging sexual assault, harassment, and sex trafficking against Combs, who has denied all allegations, stating that he will fight for his name and reputation.
Source: YAHOO
Reported 4 months ago
Oleksandr Usyk and Tyson Fury are set for a heavyweight championship rematch on December 21 in Riyadh, Saudi Arabia, after Usyk defeated Fury via split decision earlier in the month to become the first undisputed heavyweight champion in 24 years. The bout is highly anticipated, with Fury expressing confidence in his victory despite the previous loss and highlighting his rematch clause. However, Usyk's reign may be short-lived due to a potential stripping of his IBF title, with plans for the Hrgovic-Dubois winner to face Anthony Joshua for the vacant belt in September at Wembley Stadium.
Source: YAHOO
Reported 4 months ago
DeWanna Bonner and the Connecticut Sun made history by starting the 2024 WNBA season with a 6-0 record, their longest win streak to begin a season. Bonner scored her 7,000th career point in a 70-47 victory over the Phoenix Mercury, becoming just the fifth player in WNBA history to achieve this milestone. The Sun's strong offensive performance, led by Bonner and a balanced scoring attack, combined with their stifling defense, has propelled them to the top of the league standings as the only remaining undefeated team.
Source: YAHOO
Reported 4 months ago
Karl-Anthony Towns and the Minnesota Timberwolves desperately needed a win in Game 4 of the Western Conference finals against the Dallas Mavericks, with Towns stepping up in a crucial 15-minute span to lead his team to a 105-100 victory and avoid a sweep. Towns' performance, particularly in the fourth quarter, was instrumental in the win, reigniting hope for the Timberwolves as they head back to Minneapolis for Game 5. Despite the challenges they face, the team remains determined to keep fighting and turning the tide in the series.
Source: YAHOO
Reported 4 months ago
Mortgage demand hit its lowest level since early March as applications decreased by 5.7% on a seasonally adjusted basis during the week ending May 24, with the 30-year fixed mortgage rate rising to 7.05%. The decrease in applications was attributed to the rate increase, with both purchase and refinance applications falling, according to the Mortgage Bankers Association’s weekly survey. Purchase loan application volume dropped by 1%, while refinance applications fell by 14% week over week, impacting overall activity.
Source: YAHOO
Reported 4 months ago
El Al Israel Airlines reported a significant profit increase in the first quarter, reaching $80.5 million compared to a loss of $34.4 million the previous year, as revenue surged by 48% to $738 million and passenger load factor increased to 93%. The CEO urged foreign carriers to resume flights to Israel to alleviate pressure on El Al, which has been handling all passenger traffic due to other airlines halting flights during the conflict with Hamas. Despite criticism of high airfares, the CEO explained that the prices reflect supply and demand dynamics, with half of El Al's passengers paying less than the average price in 2023. El Al's market share has risen to 56% for the first four months of 2024, showing an 18% increase in passengers compared to 2023.
Source: YAHOO