Category: Latest News
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Gilat stock climbs after $25 million Peru broadband contract
Shares of Gilat Satellite Networks (NASDAQ:GILT) rose 5% following the announcement of a new $25 million contract with Peru’s national telecommunications program to enhance digital connectivity across the country. The agreement, executed through Gilat’s Peruvian subsidiary, focuses on modernizing the Regional Broadband network in the Cusco region. The network will be migrated over the next…
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Bank of Nova Scotia beats estimates as Q3 profits climb 15%
Bank of Nova Scotia (NYSE:BNS) exceeded expectations in its third-quarter results on Tuesday, reporting a 15% year-on-year increase in adjusted earnings per share, fueled by revenue growth and positive operating leverage. Following the announcement, the bank’s shares rose 0.92% in pre-market trading. The Canadian financial institution posted adjusted earnings of C$1.88 per share, surpassing analyst…
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Ranpak shares surge after Walmart expands automation partnership
Ranpak Holdings Corp. (NYSE:PACK) saw its stock jump 16% following news that Walmart (NYSE:WMT) will significantly broaden its use of the company’s automation technology. Under the new agreement, Walmart will roll out Ranpak’s AutoFill™ systems to five Next Generation Fulfillment Centers, extending beyond the current installation at its McCordsville, Indiana facility. The additional sites include…
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Morgan Stanley Predicts Fed May Start Cutting Rates in September
Morgan Stanley now anticipates the Federal Reserve will start lowering interest rates as early as September, following a notable shift in tone from Chair Jerome Powell at Jackson Hole. “We now forecast Fed rate cuts beginning in September,” analysts at Morgan Stanley said, noting that Powell “signaled increased concern over labor market risks and leaned…
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AMD Shares Climb Following IBM Quantum Computing Collaboration Announcement
Shares of Advanced Micro Devices (NASDAQ:AMD) rose 2.8%, while International Business Machines (NYSE:IBM) gained 0.9% after the two technology leaders unveiled a new partnership focused on next-generation quantum-focused supercomputing systems. The alliance seeks to create scalable, open-source platforms that merge IBM’s quantum computing capabilities with AMD’s high-performance computing and AI acceleration technologies. This hybrid strategy…
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Lilly Shares Climb After Positive Results for Weight Loss Pill
Eli Lilly and Company (NYSE:LLY) saw its stock rise in Tuesday premarket trading after the pharmaceutical firm reported encouraging results from a Phase 3 trial of its oral weight loss medication, clearing the path for global regulatory submissions later this year. The ATTAIN-2 study demonstrated that orforglipron achieved its primary endpoint and all key secondary…
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American Woodmark Falls Short of Q1 Expectations Amid Weak Construction Market
American Woodmark Corporation (NASDAQ:AMWD) reported fiscal first-quarter results on Tuesday that missed analyst projections, as continued softness in both the new construction and remodel segments weighed on performance. The cabinet manufacturer posted adjusted earnings per share of $1.01, well below the consensus estimate of $1.33. Revenue totaled $403 million, down 12.2% from a year earlier…
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Citi Trends Shares Climb Over 2% as Q2 Earnings Surpass Expectations, Full-Year Outlook Boosted
Citi Trends, Inc. (NASDAQ:CTRN) saw its stock rise 2.79% in pre-market trading Tuesday after reporting second-quarter results that far exceeded Wall Street forecasts and announcing an upward revision to its full-year guidance. The off-price retailer posted earnings per share of $0.46 for Q2, significantly ahead of the analyst estimate of -$0.92. Revenue reached $190.8 million,…
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Barclays Sees Strong Prospects for Energy Earnings as Oil Market Remains Resilient
Crude oil prices have largely held steady despite ongoing geopolitical tensions, with analysts noting that the sector’s fundamentals continue to underpin a favorable earnings outlook for energy companies. In a Monday briefing, Barclays energy analyst Amarpreet Singh reaffirmed a positive view on the industry, pointing to persistent demand and supply bottlenecks in key producing countries.…
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Durable Goods Orders Fall Less Than Forecast, Providing Support for the Dollar
New government data on U.S. durable goods orders showed a 2.8% drop, a decline that was smaller than the 3.8% decrease economists had anticipated. Durable goods orders track new purchases of long-lasting manufactured products, including transportation equipment, and are widely used to gauge the strength of the industrial sector and overall economic momentum. Although orders…