Author: Bruno T
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US initial jobless claims down 2,000 to 210,000
The number of seasonally adjusted initial jobless claims in the United States tumbled by 2,000 to 210,000 in the week ending March 23, the Department of Labor revealed in its report published on Thursday. The figure came in lower than analysts predicted. The four-week moving average fell by 750 in comparison to the week before,…
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US GDP growth revised up to 3.4% in Q4
The United States gross domestic product (GDP) grew 3.4% year over year in the fourth quarter of 2023, the Bureau of Economic Analysis announced in its third estimate report on Thursday. The reading was higher than the 3.3% registered in the first estimate and the 3.2% reported in the second. “The GDP estimate released today is based on…
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Investor Confusion Erupts Over Trump’s “DJT” Stock Symbol
The launch of former President Donald Trump’s Truth Social platform brought not just political intrigue but also a curious hiccup in the financial markets, causing confusion and excitement among investors. On Tuesday, the first day of trading for Trump Media & Technology Group under the symbol “DJT,” several brokerage balances experienced a momentary surge, sending…
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Analysts’ Recommendations for March 27th: FedEx, Visa, Uber, Adobe…
Every morning, investors wake up to a flurry of analysts’ recommendations that can significantly impact their investment decisions. These insights often reflect changes in market sentiment, strategic shifts within companies, and evolving economic landscapes. Here’s a roundup of notable analyst recommendations covering North America for March 27th: FedEx Corporation (NYSE: FDX) BNP Paribas Exane has…
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Pre-market Movers: IBIO, DRCT, NUVB, PAYS, LUXH…
The following are some of the stocks making big moves in Wednesday’s pre-market trading (as of 07.30 A.M. ET). In the Green iBio, Inc. (IBIO) is up over 86% at $2.14.Nuvation Bio Inc. (NUVB) is up over 21% at $3.50.PaySign, Inc. (PAYS) is up over 20% at $4.06.Hitek Global Inc. (HKIT) is up over 19%…
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US mortgage applications down 0.7%
Mortgage applications in the United States decreased by 0.7% on a seasonally adjusted basis for the week ending March 22, the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey showed on Wednesday. Further details from the report indicate a slight decline in the Purchasing Index, which fell from 146.0 to 145.7 points. The Mortgage Market…
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Reddit sets IPO price at $34 per share
Reddit Inc. has set its initial public offering (IPO) price at the upper limit of its projected range or $34.00 per share, people familiar with the matter told The Wall Street Journal on Wednesday. This would place the company’s valuation at $6.4 billion, the sources told The Wall Street Journal earlier. The social media giant…
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BMW’s Q4 revenue up 8.7% to €43 billion
The BMW Group stated on Thursday that its revenue for the fourth quarter of fiscal 2023 increased by 8% to €42.9 billion, while for the entire year, it logged a total profit of €155 billion, 9% higher than in 2022. In the three months to December 31, 2023, the car maker’s net profit rose 20%…
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Cohere Nears $500 Million Funding at a $5 Billion Valuation Amid AI Startup Boom
Cohere, a burgeoning artificial intelligence startup renowned for developing foundational models rivalling those of ChatGPT’s creator, OpenAI, is reportedly on the brink of securing a substantial $500 million in funding. This new injection of capital is set to elevate the Toronto-based firm’s valuation to an impressive $5 billion, as disclosed by a source privy to…
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Fed Maintains Rate Cut Projections, U.S. Stocks Hit Record Highs Amid Growth Optimism
In a significant development that has buoyed the U.S. stock market to record levels, the Federal Reserve has affirmed its stance on rate cuts for 2024, despite witnessing stronger-than-expected economic growth. This announcement comes as a relief to investors who had been adjusting their expectations for the central bank’s easing measures amidst signs of robust…