Tag: industrial news

Stock-market investors want the Fed to answer this crucial question when it meets this week

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Multiple risks are raising the stakes in financial markets and for the U.S. economy as Federal Reserve policy makers prepare to gather this week.The Fed is widely expected to deliver a quarter-of-a-percentage point interest rate hike when its meeting concludes on Wednesday. The most crucial question facing investors is whether policy makers subsequently show a willingness to hold off on further rate rises in order to assess the damage from their year-long campaign to lower inflation.

If they do pause, it may be time for investors…

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April 30, 2023
Should You Sell Tesla Stock In May? Maybe Not.

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Tesla

shares have been on a wild ride lately as investors debate profit margins, price cuts and EV demand. Predicting what’s next is no easy task given all that, plus rising interest rates and persistent inflation. Stock charts and stock seasonality can help investors get a sense of whether or not they should just sell in May and come back and revisit shares later in the year.

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April 30, 2023
Here’s What Treasury, Fed Might Do in a Debt Ceiling Crisis

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Here’s What Treasury, Fed Might Do in a Debt Ceiling Crisis

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April 30, 2023
Americans’ personal savings just hit $1 trillion. What’s the best place to store your cash — I-bonds, CDs or online savings accounts?

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People are saving more these days. Where’s the best place to put your cash?

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April 28, 2023
Air Travel Is Booming. 2 Stocks to Buy That Aren’t Airlines.

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Air Travel Is Booming. 2 Stocks to Buy That Aren’t Airlines.

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April 28, 2023
Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

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The stock of TOP Financial Group Ltd., a Hong Kong-based broker that went public last year, soared more than 890% Friday to a fresh record high with no apparent news to drive the move.

Volume of 2.4 million shares traded in the first two hours of trading far exceeded the average daily volume of 872,000 over the last 65 days. The stock TOP was halted for volatility several times in early trade.

TOP…

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April 28, 2023
What is a credit-default swap? Debt-ceiling jitters put obscure instrument back in spotlight.

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It’s usually not a good sign when obscure financial instruments are making headlines. And that’s the case now as the political standoff over the U.S. government’s debt ceiling puts credit-default swaps back in the spotlight.

How CDS work

Credit-default swaps, or CDS, are instruments that effectively allow a lender to insure against default by a borrower. An investor who owns a corporate bond, bank credits or government debt, can buy CDS to protect against default. Speculators can also use CDS to place bets, though…

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April 28, 2023
Meme stock TOP Financial Group soars more than 890%, spurred on by the Reddit crowd

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The stock of TOP Financial Group Ltd., a Hong Kong-based broker that went public last year, soared more than 890% Friday to a fresh record high with no apparent news to drive the move.

Volume of 5.5 million shares traded by early afternoon far exceeded the average daily volume of 872,000 over the last 65 days. The stock TOP was halted for volatility multiple times during the session.

The…

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April 28, 2023
Intel Suffers Largest-Ever Loss Amid PC Slump, Fierce Competition

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Intel Suffers Largest-Ever Loss Amid PC Slump, Fierce Competition

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April 27, 2023
Amazon stock turns around as CFO admits AWS growth rates are declining further

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Amazon.com Inc. shares zoomed higher in extended trading Thursday after the company posted its biggest quarterly profit since 2021, but shares turned around after the company’s chief financial officer said in a conference call that cloud revenue is decelerating in the current quarter.

Amazon AMZN reported that first-quarter revenue grew to $127.4 billion from $116.44 billion in the same quarter last year. Profit reached $3.17 billion, or 31 cents a share, improving from a loss of 38 cents a share a year ago, which was Amazon’s…

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April 27, 2023
Snap stock sinks nearly 20% on revenue miss

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Snap Inc.’s stock plunged more than 18% in extended trading Thursday after the social-media company reported a decline in revenue as it retools its ad platform.

Revenue dropped 7% to $988.6 million, from $1.06 billion a year ago. Analysts surveyed by FactSet had expected on average a net loss of a penny a share on revenue of $1 billion.

Sales…

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April 27, 2023
Intel tops Wall Street estimates, CEO says data-center business is improving

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A previous version of this article included an inaccurate number for Intel’s second-quarter profit forecast. It has been updated.

Intel Corp. shares surged in the extended session Thursday, swinging from an initial loss after the chip maker topped Wall Street estimates for the quarter, and Chief Executive Pat Gelsinger assured analysts that the company’s data-center business was improving.

Intel…

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April 27, 2023
Amazon stock gives up gains as CFO admits AWS growth rates are declining further

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Amazon.com Inc. shares zoomed higher in extended trading Thursday after the company posted its biggest quarterly profit since 2021, but shares turned around after the company’s chief financial officer said in a conference call that cloud revenue is decelerating in the current quarter.

Amazon AMZN shares jumped more than 10% in after-hours trading immediately following the release of first-quarter results, but those gains disappeared after Chief Financial Officer Brian Olsavsky said in a conference call with analysts that…

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April 27, 2023
‘Sell’ signals are flashing across the stock market now. But bulls still have one chance.

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The stock market, as measured by the S&P 500 Index SPX, has struggled to maintain the rally that began in mid-March, and now we are getting new sell signals from some of our internal indicators.

SPX was turned back by resistance near 4200 for the third time since last August. That is an extremely strong resistance area now. Moreover, there is further resistance at 4300. On the downside for SPX, there is technically support at 3970, where the small gaps exist on the SPX chart. A close below 3950 would be extremely bearish and…

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April 27, 2023
U.S. stocks head for best day in 2 weeks on strong earnings from Meta and other big-tech names

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U.S. stocks rose on Thursday, on track for their biggest gain in two weeks, as another batch of strong big-tech earnings reports helped boost the broader market while offsetting signs of slowing economic growth.

How are stocks trading

On Wednesday, the Dow Jones Industrial Average fell 229 points, or 0.68%, to 33,302 as worries about First Republic Bank FRC overshadowed upbeat big-tech earnings.

What’s driving markets

For…

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April 27, 2023
Mobileye Shocks With Lower Guidance. Blame Tesla.

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Self-driving-technology company

Mobileye Global

reported a disappointing quarter, and cut full-year financial guidance. The electric-vehicle price war, being led by

Tesla

is the main reason.

Mobileye

stock (ticker: MBLY) is down significantly in Thursday trading, falling more than 23%. The

S&P 500

and

Nasdaq Composite

are up about 0.6% and 0.9%, respectively.

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April 27, 2023
Deutsche Boerse Makes Offer for SimCorp

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By Sarah Sloat

Deutsche Boerse SE said Thursday it would make a voluntary takeover offer for Danish software company SimCorp AS for a total 3.9 billion euros ($4.31 billion).

The all-cash offer of DKK735 ($108.86) per share represents a 38.9% premium over the closing price of DKK529, and a 45.3% premium over the three-month volume-weighted…

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April 27, 2023
Deutsche Bank Reports Higher Profit in Tumultuous Quarter

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Deutsche Bank Reports Higher Profit in Tumultuous Quarter

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April 26, 2023
Meta stock jumps toward highest price in a year as Facebook parent predicts renewed revenue growth

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Meta Platforms Inc.’s stock soared more than 10% higher in extended trading Wednesday after the social networking company’s profit declined less than expected in the first three months of 2023, and a revenue forecast pointed toward reinvigorated sales growth.

Facebook’s parent company META racked up fiscal first-quarter net earnings of $5.71 billion, or $2.20 a share, compared with earnings of $2.72 a share in the year-ago quarter. Revenue gained less than 3% to $28.65 billion from $27.91 billion a year ago.

Analysts…

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April 26, 2023
Roku stock gains after earnings beat, though ad market remains challenging

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Roku Inc. shares moved 2% higher in Wednesday’s after-hours action as the streaming-media company cited continued ad-market pressures but topped expectations for its latest quarter.

The company reported a first-quarter net loss of $193.6 million, or $1.38 a share, compared with a loss of $26.3 million, or 19 cents a share, in the year-earlier quarter. Analysts tracked by FactSet were expecting a $1.47 loss per share.

Roku…

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April 26, 2023