Reported 10 days ago
Home Depot's SRS Distribution has announced its agreement to acquire GMS, a specialty building products distributor, for approximately $4.3 billion. This acquisition aims to strengthen Home Depot's position in the contractor market amid growing competition from rivals like QXO, which had made a competing offer. The deal, which represents a premium for GMS shareholders, will enhance SRS's distribution network across North America and is expected to close by the end of fiscal 2025.
Source: YAHOO
Reported 10 days ago
Despite recent record highs in US stock markets, Wall Street is expressing concerns due to signs of market fragility. Analysts note a widening performance gap between large and small-cap stocks, and many strategists are projecting a more bearish outlook for the economy. Key risks highlighted include slowing consumer demand and the potential for delayed Federal Reserve interest rate cuts. Additionally, while Bitcoin is thriving, gold prices have pulled back amid easing geopolitical tensions.
Source: YAHOO
Reported 10 days ago
Republican leaders are racing to address ongoing internal disputes over President Trump's substantial tax and spending package as Democrats aim to capitalize on these divisions. The Senate remains divided on critical cuts to Medicaid and social safety programs, while Democrats plan to propose amendments during an extended voting session to highlight contentious provisions. With a $3.3 trillion plan at stake, Republicans must garner sufficient support to avoid political backlash in the upcoming midterm elections.
Source: YAHOO
Reported 10 days ago
US stocks saw gains on Monday, with the Dow, S&P 500, and Nasdaq indices rising as optimism spread regarding progress in trade negotiations between the US and Canada, especially after Canada scrapped a tax targeting US tech companies. This move, along with discussions around a significant tax cut proposed by Trump, encouraged investors ahead of a busy week that includes an important jobs report. Despite some volatility, major stock indexes are approaching all-time highs, driven by the easing of trade tensions and ongoing market excitement.
Source: YAHOO
Reported 10 days ago
In a recent interview, President Trump announced he does not plan to extend the July 9 tariff deadline for countries negotiating trade deals with the US. Meanwhile, Canada has withdrawn its planned digital services tax targeting US tech firms to revive stalled trade talks. Treasury Secretary Scott Bessent warned that non-compliant countries risk facing increased tariffs, while ongoing negotiations with multiple nations aim to solidify trade agreements before the looming deadline.
Source: YAHOO
Reported 10 days ago
AbbVie announced its acquisition of Capstan Therapeutics, a developer of CAR-T cell therapies, for up to $2.1 billion as part of its strategy to enhance its product pipeline for treating autoimmune diseases. This purchase follows AbbVie's significant investment in acquisitions after the loss of patent protection for its leading rheumatoid arthritis drug, Humira. The deal is expected to strengthen AbbVie's position in the competitive landscape of inflammatory disease treatments.
Source: YAHOO
Reported 10 days ago
In a surprising turn of events, last-minute modifications to President Trump's pivotal legislation have alarmed the clean energy industry, including figures like Elon Musk. The adjustments not only expedited the phase-out of clean energy tax credits and introduced taxes on renewable projects but also unveiled support for fossil fuels, contributing to a nearly $1 trillion increase in the bill's cost. As Senate leaders brace for a crucial vote, concerns mount over the potential damage to clean energy investments and the overall fiscal impact of the bill on the national debt.
Source: YAHOO
Reported 10 days ago
Wall Street analysts expressed mixed opinions on Circle after its significant IPO as concerns grew over its high valuation. Following its debut at $69 per share, Circle saw its stock price more than double, leading to notable ratings from brokerages. While some analysts predicted robust growth and adoption of the stablecoin sector, others cautioned about the risks associated with its inflated valuation, highlighting a stark contrast in outlook within the investment community.
Source: YAHOO
Reported 10 days ago
Despite a new US-UK trade deal reducing tariffs on various industries, the UK's steel sector continues to face a 25% tariff. While automotive and aerospace industries benefit from lower tariffs, the overall economic outlook remains uncertain as the British pound's recent gains are largely attributed to dollar weakness amidst ongoing questions about future trade dynamics.
Source: YAHOO
Reported 10 days ago
An analysis by DataWeave reveals that prices for China-made goods on Amazon have been rising more rapidly than the overall inflation rate in the U.S., suggesting that tariffs are starting to affect consumers. Between January and mid-June, the median price for a selection of over 1,400 products increased by 2.6%, with notable hikes in categories like electronics and home goods. As retailers adjust to higher costs caused by tariffs, some companies, including Walmart and Nike, have announced price increases, raising concerns about consumer spending amidst weakening sentiment.
Source: YAHOO
Reported 10 days ago
Hyatt Hotels has agreed to sell Playa Hotels' real estate portfolio to Tortuga Resorts for $2 billion, aimed at enhancing its asset-light business model. Following a previous acquisition of Playa for $2.6 billion, this sale will reduce Hyatt's net purchase price for Playa's remaining operations to approximately $555 million. The deal involves a 50-year property management agreement, allowing Hyatt to maintain operational control. The sale, pending regulatory approval, is expected to close by the end of 2025.
Source: YAHOO
Reported 10 days ago
INmune Bio announced that its Alzheimer's drug, XPro, did not enhance cognitive functions in early-stage patients during a mid-stage trial, leading to a nearly 63% drop in its stock price. Although the drug was found safe and well-tolerated, it failed to achieve its primary goal in the study involving 208 patients.
Source: YAHOO
Reported 10 days ago
Mercedes-Benz reports no disruptions in production despite concerns over limited raw material exports from China. Company executive Joerg Burzer confirmed that while they remain vigilant about supply chain risks, including rare earth shortages, they have not encountered any issues so far. The export restrictions imposed by China on certain rare earths are easing, allowing supply to resume, while Mercedes explores potential investments to enhance manufacturing stability in the U.S.
Source: YAHOO
Reported 10 days ago
On June 30, the US Senate advanced President Trump's tax bill, which could increase the national debt by $3.3 trillion over the next decade. Additionally, a new US-UK tariff deal has taken effect, benefiting British car manufacturers, while Canada has repealed its controversial tech tax to revive trade discussions with the US, previously stalled by rising tensions.
Source: YAHOO
Reported 10 days ago
Cato Networks, an Israeli cybersecurity firm, has raised $359 million in a funding round that values the company at over $4.8 billion. The investment reflects increasing demand for AI-driven security solutions, driven by rising cyber threats. The funding will support enhancements in Cato's AI capabilities, research and development, and global expansion. Founded in 2015, Cato offers integrated network and security services through its secure access service edge (SASE) platform.
Source: YAHOO
Reported 10 days ago
Advent International has agreed to purchase a majority stake in LayerZero Power Systems, a company that produces power infrastructure equipment for data centers, valued at approximately $1 billion. This acquisition comes amid growing demand for data center capacity driven by AI services like ChatGPT. LayerZero's products play a critical role in energy distribution for data centers, and Advent aims to enhance manufacturing capacity and customer reach while maintaining the founders as minority stakeholders.
Source: YAHOO
Reported 10 days ago
在美国与主要贸易伙伴的谈判乐观情绪的推动下，S&P 500和纳斯达克期货在周一触及历史新高。加拿大取消了对美国科技公司的数字服务税，这一举措旨在推动停滞的贸易谈判。此外，市场对美联储可能降息的预期也为股市提供了支持。虽然美国股市创下新高，但其首半年表现仍是自2022年以来的最弱。
Source: YAHOO
Reported 10 days ago
US-based I Squared Capital has withdrawn its plans to acquire Hong Kong's HKBN as a competing bid from China Mobile gains momentum. I Squared, which already owns HGC Global Communications in Hong Kong, struggled to secure necessary approvals for a formal bid and faced challenges in meeting the price required to outbid China Mobile, which has made an offer of HK$7.8 billion for HKBN.
Source: YAHOO
Reported 10 days ago
U.S. bond traders are enjoying strong profits as the first half of the year concludes, supported by expectations that the Federal Reserve will cut interest rates at least twice this year. With recent market trends showing near historic lows in bond yields and growing anticipation for the upcoming jobs report, investors are positioning for potential gains amid a backdrop of fluctuating economic conditions.
Source: YAHOO
Reported 10 days ago
Shares of Hong Kong-based crypto platform OSL Group surged 10% to their highest level in nearly four years after announcing the acquisition of Canadian crypto infrastructure provider Banxa. This deal, part of OSL's global expansion strategy, aims to capitalize on the rising interest in cryptocurrencies. With plans to issue stablecoins and expand into various regions, OSL positions itself to enhance cross-border payments amidst evolving market dynamics.
Source: YAHOO
Reported 10 days ago
JPMorgan Chase strategists believe that a slowdown in the U.S. job market will hinder the potential for gains in the S&P 500, potentially counteracting any benefits from the Federal Reserve's interest rate cuts. They predict that weaker labor data and rising inflation will lead to a less supportive environment for U.S. equities. Meanwhile, Morgan Stanley forecasts a rally in the market driven by anticipated rate cuts, with their economists expecting the Fed to reduce rates seven times in 2026, which could lift stock prices in the latter half of this year.
Source: YAHOO
Reported 10 days ago
Jefferies analyst James Heaney upgraded Disney's stock rating from Hold to Buy, citing limited risk of a parks slowdown, positive forecasts for the cruise business, margin expansion in direct-to-consumer sales, and a promising content slate over the next six months. Heaney set a price target of $144, indicating an 18% potential upside from the current share price of $124.84. Despite challenges within the media industry and an ongoing CEO search, Heaney remains optimistic about Disney's future growth.
Source: YAHOO
Reported 10 days ago
As the S&P 500 hits new highs, traders are increasingly purchasing call options, driven by a fear of missing out (FOMO) on its continued growth. This trend is evident through substantial investments in stocks like Nvidia, Uber, and Tesla. Despite rising speculation over a potential market bubble and mixed economic signals, the demand for equities persists, with retail investors contributing to this momentum. Strategists view this behavior as a response to optimism about economic recovery, albeit with caution regarding potential market risks.
Source: YAHOO
Reported 10 days ago
Israeli cybersecurity company Cato Networks announced the successful raising of $359 million in a new private funding round, which elevates its valuation to over $4.8 billion. The round saw participation from new investors like Vitruvian Partners and ION Crossover Partners, alongside existing investors such as Lightspeed Venture Partners. With this investment, Cato Networks has now raised over $1 billion in total, aiming to transform enterprise security for the digital and AI age.
Source: YAHOO
Reported 10 days ago
US banks saw an uptick in premarket trading after successfully passing the Federal Reserve's annual stress test, indicating their preparedness for potential economic downturns and enabling them to proceed with stock buybacks and dividends. The Fed's findings revealed that the 22 largest U.S. banks held strong capital levels despite potential losses, enhancing confidence in their ability to lend during crises. This positive outcome from the stress test is expected to attract more investor interest in the banking sector.
Source: YAHOO