Author: Bruno T
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Micron Surges on Unexpected Profit, Five Below and Guess Report Mixed Results
In a notable turn of events, Micron Technology (NASDAQ:MU) delivered a surprising profit report, surpassing analysts’ predictions and setting an optimistic profit outlook for the upcoming period. The renowned memory-chip manufacturer not only projected a significant profit but also anticipated fiscal third-quarter revenues to be between $6.4 billion and $6.8 billion. This forecast notably exceeds…
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Federal Reserve Holds Rates Steady, Market Responds Positively Amid Future Cut Projections
In a move widely anticipated by investors, the Federal Open Market Committee (FOMC) maintained interest rates within the 5.25% to 5.50% range this Wednesday. This decision aligns with the consensus view among market participants and follows the FOMC’s “Dot-Plot” report projections, which indicate an expectation for three 25 basis-point cuts throughout the year. Shortly after…
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Biden Administration’s Historic Investment in Intel to Revitalize U.S. Semiconductor Industry
The Biden administration has unveiled a monumental plan to inject nearly $20 billion in grants and loans into Intel (NASDAQ:INTC), aiming to significantly enhance the United States’ semiconductor chip production capabilities. This ambitious initiative marks the government’s most substantial commitment yet to fostering advanced chip manufacturing on American soil. President Biden is set to announce…
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Market Watch: Fed Decision, Samsung-Nvidia Tie-Up, UK Inflation Dip
Fed’s Policy Meeting Draws to a Close Investors and market observers are on high alert as the Federal Reserve wraps up its two-day policy meeting, with widespread anticipation that interest rates will remain on hold. The spotlight is on Chair Jerome Powell’s upcoming press conference and the Fed’s updated economic forecasts, especially after Powell’s earlier…
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JPMorgan raises quarterly dividend to $1.15 per share
JPMorgan Chase & Co. (NYSE:JPM) disclosed on Tuesday that its Board of Directors set up an increase of its quarterly dividend to $1.15 per, which will be paid to stockholders next April 5 when the trading operations finish. This raise signified a 9.5% jump from the prior quarterly dividend of $1.05 per share and may…
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Fed March meeting expected to hold rates
United States Federal Reserve’s Federal Open Market Committee (FOMC) is largely expected to keep its key interest rate unchanged during its monetary policy meeting on March 19 and 20. However, rate cuts are expected in 2024 and the market will be looking for clues on the timing. The current federal funds rate target range is between 5.25% and 5.50%.…
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US housing starts up by 10.7% in February
Privately‐owned housing starts in the United States saw a monthly increase of 10.7% in February to reach 1,521,000, the US Census Bureau unveiled in its report published on Tuesday. Compared to February 2023, the figure went up by 5.9%. Single-family housing starts rose by 11.6% on a monthly basis to hit 1,129,000. Privately‐owned housing completions…
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Market Analysts Shuffle Ratings: Key Upgrades and Downgrades in the Latest Stock Assessments
In the whirlwind of market shifts and strategic recalibrations, several notable companies have seen changes in their stock ratings and price targets from leading financial analysts. Here’s a roundup of some key adjustments: 3M Company received a vote of confidence from Barclays, as the firm upgraded its rating to ‘overweight’ from ‘equal weight’ and lifted…
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AstraZeneca to acquire Fusion for $2 billion
AstraZeneca plc (NASDAQ:AZN) announced on Tuesday that it will acquire Fusion Pharmaceuticals Inc. for $21 per share or a total of approximately $2 billion, “a 97% premium to Fusion’s closing market price of $10.64 on 18th March 2024” in order to enhance its oncology portfolio. “Together with Fusion, we have an opportunity to accelerate the…
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Meta says can cut monthly Facebook, Instagram fee to €5.99
Meta Platforms Inc. (NASDAQ:META) stated on Tuesday during a hearing at the European Commission that it is willing to drop the price of monthly subscription fee for its social media platforms Facebook and Instagram to €5.99. “We have wanted to accelerate that process for some time because we need to get to a steady state…so…