Reported 18 days ago
FedEx's stock dropped almost 15% following a disappointing earnings report that showed profits significantly below analysts' expectations, raising concerns about the strength of the US economy. The company also lowered its projected earnings for the upcoming fiscal year, contrasting its outlook with recent Federal Reserve rate cuts. CEO Raj Subramaniam cited inflation's impact on customer behavior and a weakening industrial economy as key factors behind the company's struggles.
Source: YAHOO
Reported 18 days ago
Palantir Technologies has been awarded a $100 million contract by the US Department of Defense to expand its AI tool, the Maven Smart System, to a broader base of military personnel. This significant deal illustrates the growing reliance on advanced technology in military applications.
Source: YAHOO
Reported 18 days ago
ASML shares have declined after Morgan Stanley downgraded its earnings estimates, joining earlier downgrades from Deutsche Bank and UBS due to concerns about growth in the semiconductor market and rising competition from Intel and Chinese manufacturers.
Source: YAHOO
Reported 18 days ago
Former President Donald Trump has expressed a desire to eliminate the $10,000 cap on state and local tax (SALT) deductions established by the 2017 tax law. This cap particularly impacted taxpayers in affluent states, and with significantly shifting political landscapes expected after the 2024 elections, there seems to be a feasible path toward its repeal. The outcome will depend heavily on the composition of Congress and the winner of the presidential election. Democrats, including Vice President Kamala Harris, have long sought to repeal the cap, which could trigger significant political battles in 2025 as various tax cuts also approach expiration.
Source: YAHOO
Reported 18 days ago
As the market reacts positively to the Federal Reserve's recent rate cut, strategist Emily Roland emphasizes the need to focus on midcaps and industrials over small caps. Despite small caps experiencing significant gains, she warns that their growth is largely driven by investor sentiment rather than fundamental earnings growth, which remains weak. Roland suggests prioritizing quality companies with strong balance sheets and cash flow as the market evolves.
Source: YAHOO
Reported 18 days ago
Novo Nordisk's stock experienced a decline after the company revealed that additional weight loss from higher doses of its oral weight-loss drug was limited in recent trial findings. This news raises concerns about the drug's effectiveness and impacts investor confidence, leading to a decrease in the stock's value.
Source: YAHOO
Reported 18 days ago
Donald Trump has intensified his criticism of the Federal Reserve following a recent interest rate cut, claiming it was a politically motivated decision aimed at aiding the current administration. He argued that the cut, which exceeded expectations, reflects a weak economy impacted by the Biden-Harris administration. Meanwhile, Fed Chair Jerome Powell dismissed Trump's allegations, asserting the decision was made to support economic stability and employment.
Source: YAHOO
Reported 18 days ago
In the latest trading session, FedEx shares plummeted after the company reduced its profit and revenue forecasts, prompting a downgrade from Morgan Stanley due to structural risks. Lennar also saw its stock decline as it missed quarterly home order expectations amid rising mortgage rates. Meanwhile, Trump Media's shares dropped following the expiration of a lock-up agreement, allowing Donald Trump to potentially sell his significant stake in the company.
Source: YAHOO
Reported 18 days ago
Shares of Trump Media & Technology Group fell nearly 8%, reaching a new low of $13.55, following the expiration of restrictions on insider sales. The company's market cap now stands at $2.7 billion, significantly down from its peak of nearly $10 billion at market debut. The significant selling activity, primarily due to major stakeholders, raises concerns about increased short selling and further declines in the stock's value.
Source: YAHOO
Reported 18 days ago
Apple's iPhone 16 and iPhone 16 Pro, released on September 20, 2024, come with significant updates such as a new Camera Control button, improved camera capabilities, larger displays for Pro models, and enhanced battery life. Users will appreciate features like 48-megapixel cameras for better low-light shots and macro photography. However, the much-anticipated Apple Intelligence software, which promises AI enhancements, won't be available at launch and may influence decisions on upgrading.
Source: YAHOO
Reported 18 days ago
U.S. stocks, including the Nasdaq, opened lower on Friday after a significant rally on Thursday fueled by the Federal Reserve's interest rate cut announcement. The S&P 500 and Dow Jones Industrial Average had reached new record highs just a day prior, but this morning's market opened in negative territory, reflecting a shift in investor sentiment.
Source: YAHOO
Reported 18 days ago
Nike's stock surged over 7% after the announcement that Elliott Hill, a former executive, will return as CEO on October 14, following the retirement of current CEO John Donahoe. Hill's prior experience and depth of knowledge in the industry are seen as vital for addressing Nike's recent sales decline and navigating the challenges posed by competitors.
Source: YAHOO
Reported 18 days ago
The iPhone 16 is officially on sale and customers are flocking to stores, as witnessed at the Fifth Avenue Apple Store in New York City, where CEO Tim Cook welcomed buyers. Yahoo Finance's Josh Lipton provided live coverage of the event, highlighting the excitement surrounding the new release.
Source: YAHOO
Reported 18 days ago
Stock futures are steady following record highs for the S&P 500 and Nasdaq. Nike's CEO, John Donahoe, is stepping down and will be succeeded by Elliott Hill. Additionally, Apple's iPhone 16 has officially launched and is now available in stores.
Source: YAHOO
Reported 18 days ago
U.S. stocks ended mixed on Friday, with the Dow edging up to a new record above 42,000, while the S&P 500 and Nasdaq slipped slightly after a prior surge following a significant interest rate cut by the Federal Reserve. Despite initial excitement over the cut, concerns about potential growth risks resurfaced, impacting market sentiment. Notably, shares of Intel soared after news of a possible takeover approach from Qualcomm, while FedEx saw its stock plummet following a disappointing earnings report.
Source: YAHOO
Reported 18 days ago
Major retailers like Target and Ulta Beauty are increasingly adopting small-format stores to reduce operational costs, streamline merchandise, and better cater to suburban customers. The shift towards smaller retail spaces allows for targeting specific demographics and creating personalized shopping experiences, which is essential in today's changing retail landscape marked by declining foot traffic and a competitive online marketplace.
Source: YAHOO
Reported 18 days ago
With the recent announcement of Elliott Hill stepping in as CEO, Nike investors are optimistic about revitalizing the brand and addressing the challenges left by outgoing CEO John Donahoe. Hill, a 32-year veteran of the company, is expected to refocus on product quality, restore key relationships, and improve sales performance as Nike prepares for a crucial investor day on November 19. This change has already led to a notable increase in Nike's stock price.
Source: YAHOO
Reported 18 days ago
In a recent interview, Salesforce CEO Marc Benioff discussed the company's ambitious plans to integrate 'autonomous agents' into their platform, aimed at revolutionizing business operations and deal closures. This development comes amidst significant advancements in AI technology from various tech giants and ongoing regulatory challenges. Benioff shared insights during Salesforce's Dreamforce event, emphasizing the potential impact of these innovations on the industry.
Source: YAHOO
Reported 18 days ago
This article explains the difference between reimbursement and indemnity options in long-term care insurance. Reimbursement policies pay back the policyholder for approved expenses, while indemnity policies provide a fixed monthly payment regardless of actual costs. Generally, reimbursement policies are less expensive and more common, but indemnity may be preferred for care by unlicensed or family caregivers.
Source: YAHOO
Reported 18 days ago
A significant trading week on Wall Street culminates as index-tracking funds prepare to shuffle $250 billion in shares, coinciding with a major 'triple witching' event. Apple Inc.'s presence in key benchmarks will increase after Warren Buffett's share sale, leading to a forecasted net buying of $40 billion in tech stocks, with Apple expected to attract the majority. Despite some market volatility, this reshuffling is viewed positively as it enhances liquidity in the market.
Source: YAHOO
Reported 18 days ago
Nike's newly appointed CEO, Elliott Hill, is expected to focus on rebuilding relationships with retailers to revive sales, a strategy neglected under former CEO John Donahoe. With shares up 7% in premarket trading, Hill's approach reflects a shift back to product innovation after the company's direct-to-consumer strategy faced challenges and lost market ground amid increasing competition. Experts believe that repairing ties with wholesale partners will be crucial to overcoming recent setbacks.
Source: YAHOO
Reported 18 days ago
This morning, major stock indices like the Dow and S&P 500 are looking for direction after closing at record highs, driven by a recent Federal Reserve rate cut. Nike shares are rising as CEO Phil Donahue announces his retirement, to be succeeded by Elliot Hill, amid a challenging year for the company, which has seen over a 20% decline in stock value.
Source: YAHOO
Reported 18 days ago
US stocks are retreating from record highs following a surge fueled by optimism from the Federal Reserve's recent interest rate cuts. S&P 500 and Dow futures show slight declines, while tech-heavy Nasdaq 100 drops notably after FedEx reported disappointing earnings, highlighting ongoing risks to economic growth. Investors are questioning the sustainability of the rally, with concerns about potential market bubbles and deeper rate cuts being priced in beyond the Fed's projections.
Source: YAHOO
Reported 18 days ago
Bitcoin advocates remain optimistic that the cryptocurrency will increase in value, regardless of the outcome of the upcoming U.S. presidential election. Prominent figures in the crypto world, including Tom Lee and Michael Novogratz, believe that both potential candidates offer pathways for Bitcoin's growth. Donald Trump's pro-crypto stance is seen as directly beneficial, while even a win for Joe Biden could lead to Bitcoin reaching significant heights by the end of 2024.
Source: YAHOO
Reported 18 days ago
With Elliott Hill set to take over as Nike's new CEO on October 14, Bernstein analyst Aneesha Sherman believes he has the necessary skills to lead the company. She stresses that Hill's first task will be to provide a clear direction for Nike's future to investors, as well as to reclaim the brand's momentum. While transforming a large corporation is a gradual process, Sherman reassures that investors will likely allow some time for Hill to implement his strategies, as long as they are reasonable.
Source: YAHOO