Reported about 21 hours ago
European Central Bank Vice President Luis de Guindos stated that interest rates are expected to be lowered, but cautioned against rushing the process due to uncertainties related to trade tensions and global conflicts. He expressed confidence in achieving the inflation target of 2% next year, while acknowledging potential economic threats. Upcoming projections for economic growth and inflation will be crucial in shaping future monetary policy.
Source: YAHOO
Reported about 21 hours ago
Source: YAHOO
Reported about 21 hours ago
Source: YAHOO
Reported about 21 hours ago
Pfizer has appointed Chris Boshoff, a company veteran with over a year of experience in cancer research and marketing, as its new chief of research and development, effective January 1. This decision follows criticism from activist investor Starboard regarding Pfizer's management and its struggle to produce profitable new drugs. Boshoff will oversee all R&D functions as the company addresses declining sales from its COVID-19 vaccine and antiviral treatments.
Source: YAHOO
Reported about 21 hours ago
Delta Air Lines has announced that it anticipates a mid-single-digit percentage increase in revenue for 2025, supported by a capacity growth of 3% to 4%. The airline also aims for a 10% rise in profit per share over the next three to five years, with operating margins expected to be in the mid-teens. Delta recognizes premium customers as a key revenue source, noting that affluent households prioritize leisure travel.
Source: YAHOO
Reported about 21 hours ago
Target Corp. shares fell 20% in premarket trading after the retailer cut its full-year earnings forecast, citing weak consumer spending on nonessential items and high costs from inventory stockpiling ahead of a port strike. While Target's CEO downplayed the disappointing results, analysts warn that its struggles may indicate broader issues for the retail sector.
Source: YAHOO
Reported about 21 hours ago
Apple has proposed a $100 million investment to build a manufacturing plant in Indonesia for accessories and components, following a ban on its iPhone 16 sales due to non-compliance with local component regulations. The trade ministry is set to discuss the proposal for the West Java plant, marking an important step in Apple's commitment to local manufacturing as it has no existing facilities in the country.
Source: YAHOO
Reported about 21 hours ago
Source: YAHOO
Reported about 21 hours ago
Edmunds highlights four enjoyable vehicles for winter driving, all under $40,000. The list includes the Chevrolet Colorado Trail Boss, known for its off-road capability and turbocharged engine; the Ford Bronco, which combines retro style with great handling; the Mazda MX-5 Miata RF, a sporty option that performs well with winter tires; and the Subaru WRX, recognized for its all-wheel drive and rally-bred performance. Each vehicle offers fun driving experiences for snowy conditions.
Source: YAHOO
Reported about 21 hours ago
Target's shares fell 18% as the retailer forecasted stagnant holiday quarter sales and profits below expectations, largely due to consumers opting for low-priced essentials at competitors like Walmart. The company anticipates flat comparable sales and a profit of $1.85 to $2.45 per share, diverging significantly from analyst predictions. Despite attempting to attract shoppers with discounts and expanded private-label items, Target's struggles in higher-margin categories and the impact of a recent port strike have hindered its performance, leading to a revised annual earnings forecast.
Source: YAHOO
Reported about 21 hours ago
Market recoveries from recent declines are heavily influenced by Nvidia and the tech sector, as highlighted by strategists. Mark Newton from Fundstrat notes that while tech has struggled, sectors like financials and industrials have supported the market. He emphasizes Nvidia's role in maintaining momentum, particularly with its upcoming earnings report.
Source: YAHOO
Reported about 21 hours ago
Target reported a modest sales increase in the third quarter but saw a significant drop in profits as consumers curtailed spending amid inflationary pressures. The retailer's holiday outlook also disappointed analysts, highlighting a stark contrast to competitors like Walmart and Amazon. Although sales transactions rose, Target faced multiple challenges, including increased operating costs due to a dockworker strike and a reliance on discretionary items. To attract customers, the company has cut prices on holiday goods and launched new shopping programs.
Source: YAHOO
Reported about 21 hours ago
As COP29 in Baku approaches its conclusion, nearly 200 nations are struggling to agree on a climate finance deal for developing countries, with proposals ranging from $200 billion to $1.3 trillion. The negotiations have highlighted significant divides, particularly regarding the mix of grants and loans, amidst ongoing frustrations from developing nations regarding sustainable funding. China has expressed its willingness to help but maintains its developing nation status. New mechanisms like carbon markets might offer alternative funding, yet concerns persist over the potential reliance on vague financing sources that could exacerbate debt issues.
Source: YAHOO
Reported about 21 hours ago
Target's CEO is adopting a cautious approach as the retailer faced significant misses in earnings estimates for the third quarter, prompting a cut in its full-year guidance. The company reported a 1.1% increase in net sales but fell short of Wall Street forecasts, leading to a 16% drop in share prices. Unlike rival Walmart, which outperformed expectations, Target's executives noted that consumers are spending more carefully, reflecting challenges in discretionary spending while acknowledging a strong start to the holiday shopping season.
Source: YAHOO
Reported about 21 hours ago
According to a Mercer survey, the percentage of U.S. employers covering weight-loss drugs has increased from 41% in 2023 to 44% in 2024, with larger employers showing even higher coverage rates. Many companies are responding to rising costs associated with these treatments by implementing stricter access requirements. Additionally, fertility treatment coverage has also seen a rise, while large employers are increasingly offering more diverse health plan options to manage costs effectively.
Source: YAHOO
Reported about 21 hours ago
Hellas Verona Football Club is reportedly being considered for a takeover by Austin-based Presidio Investors, which is looking to raise up to €75 million for a controlling stake in the Serie A team. Founded in 1903, Hellas Verona is currently owned by Maurizio Setti and has a rich history in Italian football. While the club is open to selling both controlling and minority stakes, no formal offers have been made yet, and discussions could go either way.
Source: YAHOO
Reported about 21 hours ago
Source: WSJ
Reported about 21 hours ago
Target reported difficulties in the third quarter of 2024, leading the company to lower its expectations for the upcoming holiday season.
Source: YAHOO
Reported about 21 hours ago
U.S. stock index futures remained steady as investors anticipate pivotal earnings from Nvidia, expected to influence its impressive stock rally this year. With Nvidia's share price slightly down before the announcement, a substantial market shift is predicted post-results, reflecting strong expectations for its performance. The market's reaction today is crucial for Wall Street's trajectory as the year concludes, while other major stocks show mixed movements amid ongoing geopolitical concerns.
Source: YAHOO
Reported about 21 hours ago
Nvidia traders are gearing up for a significant potential stock swing, as the company's upcoming earnings report could result in around an $300 billion change in market value, based on an expected 8% move in either direction. With the introduction of their new product line, Blackwell, uncertainty surrounds revenue predictions, as analysts' expectations vary greatly. Some predict a conservative forecast from Nvidia, while others anticipate strong demand. How the earnings report plays out is crucial, as even minor disappointments could lead to significant stock volatility.
Source: YAHOO
Reported about 21 hours ago
Uber has launched 'XXL' rides with extra trunk space to meet the anticipated increase in demand during Thanksgiving, available at over 60 airports worldwide. The new service aims to revitalize the company's ride-hailing business amid a slowdown, with features like flight tracking and adjusted drop-off times. This initiative comes as nearly 80 million Americans are expected to travel for Thanksgiving, setting a new record for holiday travel.
Source: YAHOO
Reported about 21 hours ago
Warren Buffett's Berkshire Hathaway has recently added Pool Corp., the largest wholesale swimming pool distributor, to its portfolio. Investors should consider several factors: Pool Corp. operates in a cyclical business that relies on expensive installation and repair jobs, has shown impressive long-term growth since its IPO, returns cash to shareholders, and operates within a growing market. Despite Buffett's modest stake, the stock's high P/E ratio combined with its cyclical nature means that careful evaluation through methods like dollar-cost averaging is advised for potential investors.
Source: YAHOO
Reported about 21 hours ago
Bill Hwang, the founder of Archegos Capital Management, is set to be sentenced for massive financial fraud that resulted in over $10 billion in losses for Wall Street banks. Convicted on multiple counts including wire fraud and market manipulation, prosecutors are pushing for a 21-year prison term and substantial financial forfeitures. Hwang's downfall began in March 2021 when he failed to meet margin calls as stock prices plummeted, leading to devastating losses in his investment strategy.
Source: YAHOO