[ad_1]
China has announced new rules on overseas IPOs, potentially sparking the resumption of Chinese companies listing in New York.
Under the new rules, the China Securities Regulatory Commission (CSRC) will vet any overseas listing applications, effective from March 31. The regulator has the power to block such IPOs, and the rules make clear listings must not endanger national security.
[ad_2]
[ad_1]
The dash for trash has hit a speed bump. Stocks faltered again this past week as the early-year rally, led by rebounds in 2022’s speculative-grade losers, ran into resistance from higher expected interest rates from the Federal Reserve in the wake of persistent inflation readings and few signs that growth is faltering.
Economists at an array of major Wall Street banks, including Goldman Sachs, Bank of America, and Citigroup, lifted their forecasts of the eventual peak in the central bank’s target range for the overnight federal-funds rate, to 5.25% to 5.50%, effectively bringing them in line with the fed-funds futures market. Deutsche Bank now is expecting a 5.6% single-point peak, up a half-percentage-point from its previous estimate, and among the highest forecasts.
[ad_2]
[ad_1]
Nvidia
should be insulated from any slowdown in the broader economy by increased spending on artificial intelligence, say analysts at Oppenheimer, who lifted their price target for the semiconductor company.
The heightened interest around artificial-intelligence should set investors’ minds at ease ahead of
Nvidia
‘s earnings next week, say the analysts, with the semiconductor maker’s commentary on data-center spending in focus.
[ad_2]
[ad_1]
Oil giant
BP
announced Thursday it was acquiring
TravelCenters of America
one of the largest servicing centers offering truck repairs and maintenance services.
BP
(ticker: BP) will acquire
TravelCenters of America
(TA) for $86 a share, representing an 84% premium to the average trading price of TravelCenters for the 30 days ended Wednesday. Total equity value of the deal was roughly $1.3 billion.
[ad_2]
[ad_1]
Cisco
Systems shares are trading sharply higher in late trading Wednesday after the networking equipment provider posted solid results for its fiscal second quarter ended Jan. 28, while sharply increasing its outlook for the full year.
Cisco now expects fiscal 2023 to be its best growth year in at least a decade. The strong earnings report and surprising outlook should provide a boost to investor sentiment on the outlook for enterprise technology spending.
[ad_2]
[ad_1]
Berkshire Hathaway
investors may soon get a read on one of the company’s better deals in the past decade—a 2017 purchase for nearly $3 billion of a 38.6% interest in Pilot Flying J, the country’s leading operator of truck stops.
The Berkshire Hathaway (ticker: BRK/A, BRK/B) stake in the company will rise to 80% in the current quarter under the terms of the original agreement reached by CEO Warren Buffett with the founding Haslam family, which will retain the remaining 20% stake.
[ad_2]
[ad_1]
Natural-gas prices have tumbled this year because of warm weather and high levels of gas in storage in Europe and elsewhere. U.S. prices are down 45% to $2.46 per million British thermal units.
The drop has impacted stocks of some natural-gas producers, though not nearly as much as the price of the commodity itself. As natural-gas prices stay low, however, the impact could widen and pressure a larger group of companies. Stocks of oil producers that also produce significant amounts of gas are vulnerable to the decline, too. Overall, free cash flow for large-cap producers could fall 33% from 2022 levels, according to Citi analyst Scott Gruber. That could keep some oil companies from being able to boost their dividends and buybacks as much as they did last year.
[ad_2]
[ad_1]
[ad_1]
[ad_1]
Bed Bath & Beyond Inc.’s Canadian division will shut down its stores under court protection after the company received an unusual lifeline earlier this week to save its U.S. operations from bankruptcy.
The troubled retailer filed its Canadian division for protection under the Companies’ Creditors Arrangement Act, Canada’s rough equivalent of chapter 11 bankruptcy. Bed Bath & Beyond has “reluctantly concluded” that even with the lifeline of its recent equity raise, there isn’t enough capital available both to restructure its U.S. business and bring the Canadian business to profitability, the company said in filings with an Ontario court.
[ad_2]
[ad_1]
This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.
https://www.barrons.com/articles/ge-larry-culp-investors-annual-letter-83f4e20b
[ad_2]
[ad_1]
Electric vehicle maker
Lucid
was shut out of the government’s new purchase tax credits for consumers buying an EV. The company decided to do something about that.
Investors aren’t so sure they like it. They are taking some profits after a run that had
Lucid
(ticker:LCID) stock outperforming
Tesla
(TSLA) shares.
[ad_2]
[ad_1]
PepsiCo
beat earnings and revenue estimates in the fourth quarter, driven by higher prices. It increased its annual dividend, sending the stock higher in premarket trading Thursday.
The beverages and snacks giant (ticker:PEP) reported adjusted earnings per share (EPS) of $1.67 on sales of $28 billion. Analysts were expecting EPS of $1.65 on sales of $26.8 billion.
[ad_2]
[ad_1]
Bed Bath & Beyond
‘s move to raise equity has depressed its stock and lifted its bonds as investors try to understand the terms of a dilutive and very complex offering.
The troubled retailer, which had said it faced the prospect of bankruptcy if it can’t raise $1.025 billion in the equity offering, said late Tuesday that it completed the deal. That brought in initial gross proceeds of approximately $225 million, while management expects to receive an additional $800 million in future installments, if certain conditions are met.
[ad_2]
[ad_1]
Royal Caribbean Group
did better than anticipated in the fourth quarter, turning in a narrower-than-expected loss and saying bookings were nearing record highs at higher prices.
The stock surged more than 6% in early trading Tuesday. It is now up close to 50% so far in 2023.
[ad_2]
[ad_1]
Investors are in a feeding frenzy over artificial-intelligence software plays, and you have to think this isn’t going to end well.
You can date the start of the AI stock craze to the Nov. 30 launch of ChatGPT, the generative AI chatbot created by the start up OpenAI. Recent data show that ChatGPT reached more than 100 million users in January, reaching that market faster than other buzzy apps like TikTok.
[ad_2]
[ad_1]
[ad_1]
The Baby Boomer Retirement Crisis Is Here. Why the Richest Generation Is Struggling.
[ad_2]
