Reported 12 days ago
Instacart has forecasted that its fourth-quarter performance will fall short of estimates, with expectations for gross transaction value between $8.50 billion and $8.65 billion, significantly lower than the $10.20 billion predicted. This decline is attributed to increased competition, a cooling of consumer spending amid high prices, and challenges from a recent cybersecurity breach. Despite a profitable quarter and growth in orders, analysts are surprised by Instacart's conservative outlook in contrast to rivals like DoorDash, which projected stronger core profits.
Source: YAHOO
Reported 12 days ago
Instacart reported a 12% increase in third-quarter revenue to $852 million, reflecting solid demand in grocery delivery, although its adjusted earnings forecast for the fourth quarter fell short of expectations at $230-$240 million. The company attributed this cautious outlook partly to a recent technical issue with a retail partner and noted a deceleration in transaction value growth. Instacart continues to explore strategic partnerships and expansions into higher-margin sectors to boost its growth.
Source: YAHOO
Reported 12 days ago
Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, discusses the strong technical indicators for equities despite record highs in the S&P and Dow. He notes a lack of sellers and significant share buybacks as key factors supporting higher prices, asserting that technicals may outweigh fundamentals in determining market trends.
Source: YAHOO
Reported 12 days ago
In a recent interview, Bank of America CEO Brian Moynihan expressed his support for Federal Reserve Chair Jerome Powell, stating that he has performed well despite criticism regarding the Fed's delayed response to inflation. Moynihan emphasized the importance of an independent central bank and acknowledged the unprecedented challenges faced during Powell's tenure.
Source: YAHOO
Reported 12 days ago
Cadillac has unveiled the Vistiq, a three-row electric SUV, aimed at expanding its EV lineup and appealing to luxury buyers. With a range of 300 miles and premium features, the Vistiq is positioned alongside other Cadillac models like the Lyriq and Celestiq. Despite a slowdown in overall EV adoption in recent years, Cadillac's EV sales have thrived, capturing nearly 19% of the luxury market, significantly higher than its competitors. The Vistiq is set to launch in early 2025, with a starting price of $78,790.
Source: YAHOO
Reported 12 days ago
Planning for retirement often feels daunting, with many Americans under-prepared for financial security. To be considered a wealthy retiree, experts recommend having at least $1 million in retirement assets, but the average American only has about $88,400 saved. Factors like lifestyle expectations, healthcare costs, and inflation will influence the amount you need. Starting early, maximizing contributions, diversifying investments, and living within your means can help build a substantial nest egg for a comfortable retirement.
Source: YAHOO
Reported 12 days ago
Netflix's advertising tier, launched two years ago, has now reached 70 million monthly active users globally. The platform's President of Advertising, Amy Reinhard, noted that over 50% of new sign-ups in ad-supported countries are opting for the ad plan.
Source: YAHOO
Reported 12 days ago
As President-elect Donald Trump prepares his Cabinet for a second term, reports indicate that billionaire supporter John Paulson has withdrawn from consideration for the Treasury Secretary position. Trump's advisors are now endorsing Scott Bessent, founder of Key Square Group, for the role.
Source: YAHOO
Reported 12 days ago
Neel Kashkari, president of the Minneapolis Fed, indicated that unexpected inflation over the next month could lead the Federal Reserve to reconsider its decision to cut interest rates during its December meeting. With the Consumer Price Index (CPI) report indicating a slight increase in inflation due to rising housing costs, Kashkari acknowledged uncertainties surrounding proposed economic policies from President-elect Trump that could further impact inflation and the Fed's rate-cut plans.
Source: YAHOO
Reported 12 days ago
Apple Inc. is preparing to introduce a new wall-mounted device that uses AI for controlling home appliances, video calls, and more, aiming to compete in the smart home market. The device, known as J490, features a 6-inch touchscreen, a camera, and a unique voice-controlled interface, integrating Apple's Siri and newly developed AI capabilities. Set to launch as early as March 2024, this product represents Apple's attempt to catch up with competitors like Amazon and Google in the smart home segment.
Source: YAHOO
Reported 12 days ago
In a recent interview, former Trump advisor Judy Shelton discussed the Federal Reserve's role in managing inflation and criticized its lack of accountability during what she described as the worst inflation in 40 years. She questioned whether interest rates should be controlled by a few officials rather than market forces and emphasized the need for a supply-side approach to economic policy. Shelton's remarks highlight growing concerns about the Fed's effectiveness and its impact on businesses and entrepreneurs.
Source: YAHOO
Reported 12 days ago
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, discusses the Fed's recent interest rate cuts and the resilience of the US economy amid inflation surprises. He believes further cuts could be paused in December if inflation unexpectedly rises, while also acknowledging the impact of potential changes in policy under a second Trump presidency on inflation dynamics. Kashkari remains cautiously optimistic about achieving the Fed's 2% inflation target.
Source: YAHOO
Reported 12 days ago
Dogecoin (CRYPTO: DOGE) has experienced a significant 23.6% surge in the past 24 hours, capitalizing on a rally by gaining over 120% in a week. This rise stems largely from recent comments by Elon Musk regarding potential governmental roles for Dogecoin following Donald Trump's Republican victory. With strong investor sentiment and continued speculation surrounding cryptocurrencies, Dogecoin shows no signs of slowing down.
Source: YAHOO
Reported 12 days ago
Nvidia's stock has climbed as Mizuho analysts increased their price target to $165 per share, driven by heightened global demand for the company's latest AI chip in anticipation of 2025. Currently the world's most valuable company with a market cap of $3.63 trillion, Nvidia is set to release its third quarter earnings on November 20.
Source: YAHOO
Reported 12 days ago
At the Yahoo Finance Invest conference, Bank of America CEO Brian Moynihan highlighted the banking industry's resilience post-regional banking crisis and expressed support for regulatory changes that are fair to all stakeholders. He also remarked on the potential for greater efficiency in government spending under a second Trump administration and called for increased housing supply to meet demand, while asserting his focus remains on his current role rather than engaging in politics.
Source: YAHOO
Reported 12 days ago
Novavax's stock fell over 6% after the company lowered its annual revenue guidance to $650-$700 million, down from $700-$800 million. The company reported a significant drop in quarterly revenues, falling to $85 million from $187 million the previous year, with a loss of $0.76 per share. Novavax intends to offset its challenges through a $1.2 billion deal with Sanofi and other licensing agreements for its adjuvant, Matrix-M, while also shifting focus to early-stage product development and scaling back R&D investments by $1.4 billion over the next two years.
Source: YAHOO
Reported 12 days ago
Berkshire Hathaway's Class B shares, created by Warren Buffett to deter money managers from splitting the company’s stock, are being packaged into a leveraged exchange-traded fund (ETF) by South Korea's Kiwoom Securities and Tidal Investments. This ETF aims to deliver 200% of Berkshire's daily performance through the use of derivatives, a move that may upset Buffett, who has criticized such financial instruments. While leveraged ETFs cater to day traders seeking quick gains, the popularity of this product remains uncertain, given Buffett's long-term investment philosophy.
Source: YAHOO
Reported 12 days ago
Precision Neuroscience, co-founded by former Neuralink employees, is developing innovative brain-computer interface technology aimed at assisting individuals with neurological disorders. CEO Michael Mager emphasizes the high-bandwidth, non-invasive nature of their device, which sits on the brain's surface and is designed for reversibility. As major tech firms invest in similar technologies, the company sees vast potential in its applications, particularly for those with paralysis, marking a significant leap in life sciences innovation.
Source: YAHOO
Reported 12 days ago
Elliott Investment Management has acquired a $5 billion stake in Honeywell and is urging the company to separate its aerospace and automation divisions, citing the inefficacy of its conglomerate structure demonstrated by inconsistent financial performance and a declining stock price over the past five years.
Source: YAHOO
Reported 12 days ago
Source: BARRONS
Reported 12 days ago
In an interview at Yahoo Finance Invest, Tom Steyer, Co-Executive Chair of Galvanize Climate Solutions, shares his optimistic outlook on climate technology investments despite uncertainties from the potential return of the Trump administration. He emphasizes the importance of maintaining investment strategies through market fluctuations and highlights significant growth in clean energy sectors, specifically pointing out that solar and electric vehicle industries have expanded substantially while costs are decreasing. Steyer concludes by discussing the shift towards abundant renewable energy and the urgency of this transition.
Source: YAHOO
Reported 12 days ago
Boeing faced a significant decline in October as it delivered only 14 aircraft, marking the lowest total since November 2020, following a seven-week strike involving over 32,000 machinists that disrupted production. This decline raises concerns about long-term delivery schedules and affects airlines like Southwest and United Airlines due to delayed aircraft arrivals.
Source: YAHOO
Reported 12 days ago
In a discussion with Yahoo Finance's Josh Lipton, Anduril Industries CEO Brian Schimpf outlines two key strategies for enhancing the Pentagon's efficiency if Donald Trump returns to office. He emphasizes the need to streamline the bureaucratic processes hindering military readiness and to rethink the future military production capabilities, as allies question America's role as a leading defense supplier. Schimpf also highlights the potential of defense tech startups and the ethical considerations of using artificial intelligence in military operations.
Source: YAHOO
Reported 12 days ago
The electric vehicle market is expected to see a significant influx of affordable, pre-owned EVs as lease returns rise dramatically by 2026, with projections indicating around 215,000 EVs will be available. While this is beneficial for consumers, as it may lead to lower prices and increased adoption, it poses challenges for manufacturers concerned about new EV sales. Factors such as potential changes in federal tax incentives may also impact consumer choices between new and used EVs.
Source: YAHOO
Reported 12 days ago
The upcoming Consumer Price Index (CPI) report for October is expected to indicate that inflation remains a challenge for the U.S. economy, with a projected increase in headline inflation to 2.6%. Despite recent rate cuts by the Federal Reserve, economists believe inflation will not show significant improvement, largely due to elevated costs in housing and services. The discussion around the potential impact of the new administration under President-elect Trump adds uncertainty to future inflation trends, emphasizing the challenges ahead for achieving the Fed's inflation targets.
Source: YAHOO