Reported 5 days ago
Wall Street billionaires are selling shares of Palantir Technologies, which has seen a 283% increase in value this year, and investing in the iShares Bitcoin Trust instead. This shift highlights the growing interest in Bitcoin, which experts predict could soar between 3,200% to 54,300% in the coming decades. The approval of spot Bitcoin ETFs is believed to significantly enhance demand, making Bitcoin a more accessible investment for both retail and institutional investors.
Source: YAHOO
Reported 5 days ago
Billionaire investor Warren Buffett has sold 67% of Berkshire Hathaway's stake in Apple, a move that reflects his cautious stance towards the tech giant's high valuation amid stalled product sales. Instead, Buffett is betting on Domino's Pizza, acquiring over $550 million in shares as the company's stock has skyrocketed by 7,000% since its IPO in 2004. This strategic shift marks Buffett's selective buying habits as he continues to navigate market conditions.
Source: YAHOO
Reported 5 days ago
The NBA and Warner Bros. Discovery (WBD) have finalized a deal extending their broadcast partnership for an additional 11 years, further solidifying their collaboration in delivering basketball content to fans.
Source: YAHOO
Reported 5 days ago
CVS has added four new members to its board, including Glenview Capital’s CEO, as part of a strategy to address performance issues after significant share price declines. This move follows Glenview's substantial $700 million investment in the company, expanding the board to a total of 16 members.
Source: YAHOO
Reported 5 days ago
Palantir Technologies' stock saw a decline after a significant bull run, as investors began to take profits following the company's announcement of a Nasdaq listing and expected inclusion in the Nasdaq-100. CEO Alex Karp also sold 4.5 million shares as part of a pre-scheduled plan. The stock's recent growth, over 250% this year, raised its market cap to nearly $150 billion, making it appear overvalued based on traditional metrics. A pullback was deemed likely, even with the company's promising future.
Source: YAHOO
Reported 5 days ago
President-elect Donald Trump is considering candidates for Treasury Secretary, including Scott Bessent, Howard Lutnick, and Senator Bill Hagerty. While Bessent initially seemed like the frontrunner, recent developments suggest Lutnick may be gaining traction due to Elon Musk's endorsement. Experts believe the choice will significantly impact market sentiment, with Bessent viewed as a stabilizing figure and Lutnick potentially favoring more aggressive tariff policies. The final nominee is expected to be confirmed soon, but the broader economic direction will remain strongly influenced by Trump's preferences.
Source: YAHOO
Reported 5 days ago
As the holiday shopping season approaches, major retailers like Walmart, TJX, Target, Ross Stores, and Gap prepare to release their earnings results. Analyst Jessica Ramirez highlights that low and middle-income consumers are feeling the strain of inflation, prompting them to spread out their purchases for the holidays. Retailers are implementing strategic promotions in response to varying inventory levels.
Source: YAHOO
Reported 5 days ago
ServiceTitan, a California-based software startup, has announced its intention to go public in the U.S. after reporting a revenue increase of 23.7% to $192.99 million and a reduced loss of $35.65 million for the quarter ending July. As part of the growing trend of high-profile startups seeking IPOs, ServiceTitan, which specializes in HVAC business software, aims to trade on Nasdaq under the ticker 'TTAN'.
Source: YAHOO
Reported 5 days ago
Delivery Hero SE aims to raise up to $1.5 billion through the IPO of Talabat, its Middle Eastern unit, by offering a 15% stake at prices ranging from 1.50 to 1.60 dirhams per share. This IPO, set to be one of the largest in the region this year, will determine its final price on November 29 and begin trading in Dubai on December 10. The offering includes cornerstone investments of $250 million from major funds and reflects increasing interest in listings across the Middle East.
Source: YAHOO
Reported 5 days ago
The Houston Astros' ballpark will officially be renamed Daikin Park on January 1, 2024, as part of a new agreement lasting until the 2039 season. Originally opened as Enron Field in 2000, the stadium has undergone multiple name changes, including a temporary phase as Astros Field and then being named Minute Maid Park in 2002. The new naming rights deal is with Daikin Comfort Technologies, while Minute Maid will continue as an Astros partner until 2029.
Source: YAHOO
Reported 5 days ago
Source: INVESTORS
Reported 5 days ago
US homebuilder sentiment rose to a seven-month high in November, fueled by optimistic sales expectations and the belief that a Trump administration will loosen regulations. The National Association of Home Builders reported a three-point increase in their housing market index to 46, with improvement noted in sales outlook and buyer traffic. While some builders are using incentives to attract buyers amid a sluggish existing-home market, experts caution that recovery in homebuilding could be slow due to high mortgage rates and potential labor shortages.
Source: YAHOO
Reported 5 days ago
MicroStrategy has made a significant move by acquiring $4.6 billion in Bitcoin recently, raising its total holdings to over $29 billion. This positions the company among the wealthiest corporations regarding financial assets, indicating its transformation into a bitcoin-focused investment firm, with its stock performance now closely aligned with Bitcoin's value.
Source: YAHOO
Reported 5 days ago
SONAR, previously known as FreightWaves SONAR, has officially rebranded to emphasize its focus on providing real-time supply chain data. Following its separation from FreightWaves a year ago, SONAR will operate independently with a new corporate headquarters opening in January 2025 at Liberty Tower, Chattanooga. The rebranding aims to clarify its mission of providing unbiased data and analytics, distinct from the news and context-oriented approach of the FreightWaves media team.
Source: YAHOO
Reported 5 days ago
Spirit Airlines Inc. has encouraged customers to continue booking flights, despite filing for Chapter 11 bankruptcy to restructure $1.6 billion in debt. The airline assures that operations will remain normal and customers can still use their tickets and loyalty points while it seeks to complete the bankruptcy process by early next year. Spirit aims to reduce debt, gain financial flexibility, and improve customer experiences.
Source: YAHOO
Reported 5 days ago
A recent Federal Reserve survey reveals that U.S. consumers faced increased challenges in accessing credit in 2024, with rejection rates for auto loans and mortgage refinancing reaching their highest levels in over a decade. The overall rejection rate rose to 21%, up from 20.1% in 2023 and significantly higher than pre-pandemic figures. Many borrowers, especially those with credit scores below 680, experienced even higher rejection rates. The survey indicated a decline in consumer optimism regarding future credit access.
Source: YAHOO
Reported 5 days ago
Nvidia's stock dropped by 3.4% due to reports of overheating issues with its Blackwell AI servers, just ahead of its earnings announcement. This follows earlier claims of design flaws that could delay production of these chips. Despite these challenges, CEO Jensen Huang anticipates significant revenue from Blackwell sales. The stock closed down 1.3% on Monday, showing investor jitters about potential declines in AI spending.
Source: YAHOO
Reported 5 days ago
Chris Watling, founder and CEO of Longview Economics, forecasts significant global market growth in 2025 as long as tariffs remain stable. He emphasizes the need for lower bond yields to stimulate the economy and acknowledges that while certain sectors like housing and manufacturing haven't seen much growth, overall economic performance is expected to improve with continued rate cuts.
Source: YAHOO
Reported 5 days ago
Source: BARRONS
Reported 5 days ago
Silver Point Capital has successfully closed an $8.5 billion direct lending fund aimed at mid-sized companies, following a $4.6 billion fund launch just two months prior. With this new fund, Silver Point's total direct lending capabilities exceed $15 billion, contributing to its overall asset management of $35 billion. Despite a competitive private credit market, Silver Point continues to identify lucrative investment opportunities, particularly in higher-risk sectors.
Source: YAHOO
Reported 5 days ago
After winning the presidency, Donald Trump is expanding his list of candidates for Secretary of the Treasury, meeting with former Federal Reserve Governor Kevin Warsh and Apollo Global Management CEO Marc Rowan. He aims to find someone who can enhance market confidence and align with his tariff policies.
Source: YAHOO
Reported 5 days ago
President-elect Donald Trump's transition team is contemplating appointing Kevin Warsh as Treasury Secretary and Scott Bessent as head of the National Economic Council. While both are well-regarded on Wall Street, concerns about their commitment to Trump's 'America First' agenda linger. Warsh's previous criticism of protectionism and the delay in appointments due to factional disputes are causing anxiety among investors, who are keenly watching how the final decisions impact the economic policy landscape.
Source: YAHOO
Reported 5 days ago
Ford Motor Company has a history of paying dividends and reinstated its dividend at $0.15 per share per quarter in 2021 after a cut in 2020 due to the pandemic. Looking ahead to 2025, it's expected to maintain this dividend level, totaling $0.60 per share for the year. Additionally, there is the possibility of a special dividend, which Ford has occasionally issued when financial performance allows. However, no special dividend was distributed in several recent years.
Source: YAHOO
Reported 5 days ago
The current crypto rally, driven by President-elect Donald Trump's pro-crypto stance, might turn into a downturn if he fails to fulfill his commitments. Experts, including Ric Edelman, emphasize that Trump must appoint supportive officials to the Treasury and SEC to maintain this optimism, or else the momentum could diminish rapidly. While crypto's global nature ensures its existence regardless of U.S. regulations, favorable policies could significantly boost institutional involvement and market clarity.
Source: YAHOO
Reported 5 days ago
Nvidia is poised to release its third quarter earnings on November 20, with investors keenly focused on the growth rate of AI demand. While the company has a history of strong earnings beats, the narrowing margin of these increases may lead to market disappointment if it continues. Experts highlight the importance of Nvidia demonstrating its expansion across various industries to support the narrative that AI will have a widespread impact, and strong results could invigorate investor enthusiasm amid recent market fluctuations.
Source: YAHOO