Author: Bruno T
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June Sees Home Price Increase, Yet Elevated Mortgage Rates Add Complexity to Housing’s Future
The month of June marked the fifth consecutive month of rising home prices, fueled by persistent demand outpacing supply and a backdrop of elevated mortgage rates. In June, the S&P Case-Shiller US National Composite home price index exhibited a 0.7% increase compared to May on a seasonally adjusted basis. This mirrored the 0.7% rise recorded…
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Vinfast, Wall Street’s New Frenzy
Vietnamese electric vehicle manufacturer Vinfast’s (NASDAQ:VFS) shares surged another 30% in pre-market trading on Wall Street on Monday, extending a recovery from the previous week that more than quadrupled its market value to $160 billion. The company made an impressive debut on Wall Street earlier this month, and its valuation quickly rose to become the…
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3M Agrees To Pay $6 billion To Settle Lawsuits Over U.S. Military Earmuffs
On Monday, 3M (NYSE:MMM) agreed to pay $6.01 billion to settle nearly 260,000 lawsuits brought by current and former members of the US military who claim to have suffered hearing loss due to the use of the company’s earplugs, according to a person familiar with the matter. The settlement comes after a failed attempt by…
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Keep An Eye Out: Pre-Market Movers And Recommendations
AT&T (NYSE:T): Citi upgrades to buy from neutral. PT up 20% to $17. Celanese (NYSE:CE): Piper Sandler downgrades to underweight from neutral. PT down 7.8% to $112. Forward Air (NASDAQ:FWRD): Jefferies upgrades to buy from hold. PT up 20% to $85. Hersha Hospitality (NYSE:HT): Barclays upgrades to equal-weight from underweight. PT up 2.1% to $10.…
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Mixed Pre-Market Has Post-Nvidia Techs Rally And Dow Jones Falling Waiting For Fed Officials And Powell
The battery of indicators at 9:30 am in the US brought better data than the PMIs the day before, but did not significantly change the pre-market outlook in New York, which awaits Jerome Powell’s speech tomorrow. Nasdaq futures follow up (+0.97% a moment ago) and pull the S&P 500 (+0.40%) on post-balance sheet rally in…
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Nvidia Earns $6.1 Billion In Q2 Fiscal 2024
Nvidia (NASDAQ:NVDA) recorded a net profit of US$ 6,188 billion in the second fiscal quarter of 2024, an amount eight times greater (843%) than that recorded in the same period of the previous year. Along the same lines, revenues increased 101%, to US$ 13.507 billion, against US$ 6.704 billion in the same period of the…
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Lyft’s Competitive Pricing Strategy Raises Concerns Over Profitability; Lyft’s Shares Tumbled Nearly 8%
Lyft’s recent decision to prioritize competitive pricing as a strategy to gain market share has resulted in a nearly 8% decline in its share value. Market participants are expressing concerns regarding the company’s road to profitability amid these pricing changes. Both Lyft and Uber, its principal competitor, are navigating the post-pandemic recovery phase, and the…
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WeWork Says It’s Not Sure It Can Continue To Operate; Stock Drops 24%
WeWork (NYSE:WE) has stated that there is “substantial doubt” over its ability to continue to operate, citing continued losses and increased member cancellations of its office spaces. The shares fell 23.74% in after-hours trading after the market closed on Tuesday (8). In the year, the drop in quotations is around 85%, with the share traded…
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After Intel And Nvidia, Arm Invites Amazon As Anchor Investor For Its IPO
Amazon (NASDAQ:AMZN) could join other tech companies as an anchor investor in the initial public offering of Arm Ltd., a Softbank-backed chip designer looking to raise as much as $10 billion in its public offering, according to sources familiar with the situation. Amazon is one of several tech companies that have spoken with Arm about…
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Bank Rating Downgrade Brings Down Market
The main American exchanges ended this Tuesday’s session in a fall, after the risk rating agency Moody’s downgraded the rating of several small financial institutions in the United States, causing risk aversion in global markets as well. The Dow Jones, S&P500 and Nasdaq 100 all fell 0.45%, 0.42% and 0.87%, respectively. Around 17:00, the yields…