Reported 10 days ago
Banco do Brasil announced an 8.3% increase in its third-quarter adjusted net profit, reaching 9.5 billion reais, while also projecting higher loan-loss provisions for the year. The bank's profitability measured by return on equity slightly declined to 21.1%, and its loan book expanded by 13% year-on-year. However, the delinquency ratio for overdue payments rose to 3.3%. The lender now expects to set aside between 34 billion reais and 37 billion reais for unpaid loans, an increase from prior estimates.
Source: YAHOO
Reported 10 days ago
Taiwan's Foxconn, the world's largest contract electronics manufacturer and a major Apple supplier, is expected to report a 7% year-on-year rise in Q3 profits due to booming demand for AI servers. The company's revenue soared 20% compared to last year, marking its highest quarterly revenue yet. Analysts estimate a net profit of T$46.3 billion for the period, alongside a positive outlook for the fourth quarter, driven by record sales and AI-related expansion efforts.
Source: YAHOO
Reported 10 days ago
The Italian government sold minority stakes in Banca Monte dei Paschi di Siena to Banco BPM and Anima Holding as part of a €1.1 billion sale aimed at strengthening the bank's Italian shareholder base. Banco BPM purchased a 5% stake, while Anima increased its ownership to around 4%. This transaction marks a significant step in Italy's ongoing banking restructuring, with the proceeds designated for reducing national debt.
Source: YAHOO
Reported 10 days ago
The Houston Astrodome, often dubbed the 'Eighth Wonder of the World', has been dormant for over 15 years, but the Astrodome Conservancy has proposed a $1 billion plan to repurpose the iconic structure into mixed-use spaces, including restaurants, retail, and offices. Despite past redevelopment ideas failing to gain traction, this new vision seeks to secure private investment for economic viability. However, it faces challenges regarding local support and the need for approval to proceed.
Source: YAHOO
Reported 10 days ago
Fernando Ruben Guerrero, the former customs director for the Port of Veracruz and a rear admiral in the Mexican navy, was fatally shot by armed assailants in Manzanillo on November 8 while driving his vehicle. This incident marks the second murder of a federal official in the port city within a month, prompting ongoing investigations by authorities.
Source: YAHOO
Reported 10 days ago
Brian Schimpf, CEO of Anduril Industries, suggests that the US Department of Defense (DoD) could enhance its acquisition of innovative technology by actively engaging entrepreneurs who solve real problems. Christopher Kirchhoff, co-author of 'Unit X' and founder of the Pentagon's Silicon Valley office, discusses the challenges the DoD faces in aligning with legislative processes while introducing new tech partnerships, particularly during Trump’s administration.
Source: YAHOO
Reported 10 days ago
According to the New York Federal Reserve, Americans are increasingly falling behind on credit cards and loans, with household debt reaching a record high of $17.9 trillion. Despite a slight increase in mortgage delinquencies, overall debt stress is evident as the share of late credit card payments rises to its highest level since 2012. However, income growth has slightly outpaced debt growth, providing some relief to households. Young and lower-income borrowers are particularly affected by these trends.
Source: YAHOO
Reported 10 days ago
Source: INVESTORS
Reported 10 days ago
President-elect Donald Trump's new initiative, the 'Department of Government Efficiency (DOGE)', aims to reduce federal spending by up to $2 trillion, with key figures like Elon Musk and Vivek Ramaswamy at the helm. This article explores how such significant budget cuts could affect the US GDP and the economy overall, featuring insights from experts including Citi's chief US economist Andrew Hollenhorst on congressional attitudes towards these proposed changes.
Source: YAHOO
Reported 10 days ago
The stock market appeared stable after the October Consumer Price Index (CPI) figures aligned with predictions, raising questions about a potential slowdown in the post-election rally. Key market factors currently under consideration include the Federal Reserve's inflation target of 2%, bitcoin's significant rise to over $93,000, and anticipated IPO developments amid a possible second Trump administration.
Source: YAHOO
Reported 10 days ago
Stewart Glickman, an energy analyst at CFRA Research, forecasts that oil prices will remain mediocre in 2025, with WTI crude estimated around $65 per barrel and Brent crude near $70. He highlights that current record-high production levels and uncertain demand outlook are unlikely to lead to a sustainable increase in prices, providing grim news for energy investors.
Source: YAHOO
Reported 10 days ago
In a significant move, banks raised $23.5 billion through investment-grade bonds on Tuesday, marking the largest single-day debt issuance since 2016, as they brace for potentially higher interest rates next year. This issuance made up 78% of the total $30.15 billion in high-grade bond sales for the day, with HSBC leading the way by offering $6.5 billion in bonds. Strong demand was noted, with sales exceeding three times the initial volume offered.
Source: YAHOO
Reported 10 days ago
Super Micro Computer's stock plummeted 6.3% on November 13, 2024, after the company disclosed it would miss the deadline for its quarterly 10-Q report, attributed mainly to the recent resignation of its auditor, Ernst & Young, following allegations of accounting violations. The company has also failed to file its annual 10-K report, putting it at risk of being delisted from the Nasdaq. Overall, shares have declined by 57.5% over the past month amidst investor concerns about its financial filings and trustworthiness.
Source: YAHOO
Reported 10 days ago
Disney is set to announce its fiscal fourth-quarter earnings before the market opens tomorrow, alongside other firms like Applied Materials and JD.com. On November 14, key comments from Federal Reserve officials, including Chair Jerome Powell, are expected, along with the release of the October Producer Price Index and current mortgage rates.
Source: YAHOO
Reported 10 days ago
SoundHound AI, backed by Nvidia, reported strong quarterly results, surpassing $25 million in revenue for the first time despite declining margins. CEO Keyvan Mohajer emphasizes the company's focus on expanding its AI-powered voice platform across various industries, including healthcare and finance, aiming to engage 'all enterprise brands.' He believes that while AI may disrupt certain jobs, it will ultimately create new opportunities as productivity increases.
Source: YAHOO
Reported 10 days ago
The stock market rally following Donald Trump's election victory is losing momentum, largely due to investor concerns over upcoming changes in the tax landscape. With current tax cuts set to expire in 2026 and Republicans gaining control of Congress, many of these tax benefits may be eliminated. Analysts warn that the evolving fiscal policies could significantly impact small and mid-market business owners.
Source: YAHOO
Reported 10 days ago
Former CNN Worldwide Chairman and CEO Chris Licht highlighted during a recent Yahoo Finance event that traditional cable TV is facing a decline similar to that of radio. Analyst Robert Fishman emphasized that linear TV will face increasing advertising pressures as audiences migrate to streaming platforms. Additionally, concerns are growing over the stability of pay-TV distribution as sports rights increasingly move to streaming services. Fishman predicts that the future of the media industry will primarily center around streaming.
Source: YAHOO
Reported 10 days ago
Nvidia is currently engaged in significant Supreme Court cases challenging how investor lawsuits are processed. The company argues that investors accusing CEO Jensen Huang of misleading statements should provide more detailed allegations. During hearings, justices expressed skepticism about Nvidia's arguments, echoing concerns raised in a parallel case involving Meta. The outcome could shape future securities fraud litigation, with the potential to either empower or limit class-action lawsuits against corporations.
Source: YAHOO
Reported 10 days ago
Source: BARRONS
Reported 10 days ago
Pagaya Technologies reported impressive third-quarter earnings, generating $257.23 million in revenue and an adjusted earnings per share of $0.44, surpassing Wall Street's estimates. However, the stock came under pressure due to unexpected credit losses, leading CEO Gal Krubiner to explain that these losses stem from previous transactions amidst high financing costs. Despite the current challenges, Krubiner expressed optimism about the future performance of the company's asset classes.
Source: YAHOO
Reported 10 days ago
Cisco Systems has raised its quarterly revenue and profit forecasts following strong first-quarter results driven by increasing demand for networking gear amid the AI boom. Despite a slight drop in stock prices after the announcement, the company is optimistic, projecting annual revenue between $55.3 billion and $56.3 billion, slightly higher than previous estimates. Cisco is shifting focus to AI-driven products and cybersecurity, following strategic layoffs and a major acquisition of Splunk aimed at enhancing its software capabilities.
Source: YAHOO
Reported 10 days ago
John Stoltzfus, chief investment strategist at Oppenheimer Asset Management, has increased his S&P 500 target for 2024 to 6,200, citing strong revenue and earnings growth in corporate America, effective Federal Reserve policies, and resilient economic indicators as key factors. Despite concerns regarding valuation, Stoltzfus believes improved earnings have alleviated these worries.
Source: YAHOO
Reported 10 days ago
Former CNN CEO Chris Licht expressed concerns that viewers have lost trust in legacy media during a recent conference, emphasizing the significant drop in cable news ratings amid a shift towards streaming. He noted that despite ongoing efforts by media executives to address these issues, challenges persist, with a notable 25% decline in TV viewership of election coverage compared to four years ago. Licht remains optimistic about the survival of the cable industry, suggesting that networks that successfully adapt could not only improve their financial standing but also reconnect with audiences.
Source: YAHOO
Reported 10 days ago
Cisco Systems surpassed its Q1 estimates, reporting adjusted earnings of $0.91 per share and revenue of $13.84 billion, exceeding expectations. The company has raised its full-year revenue forecast, predicting it will reach between $55.3 billion and $56.3 billion.
Source: YAHOO
Reported 10 days ago
Source: INVESTORS