Category: Latest News
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Crypto: Bitcoin Plummets, Grayscale Promises Lower Fees, and Latest News
Bitcoin’s fall affects market and traders with forecast of more instability Bitcoin (COIN:BTCUSD) faced a sharp decline in value over the last 24 hours, hovering around $64,329.32 at the time of writing. The negative movement, possibly intensified by the new adoption of Bitcoin ETFs, dragged along other cryptocurrencies and related assets. Amidst this volatility, optimistic…
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Futures Pointing To Initial Pullback On Wall Street
The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to give back ground following the strong upward move seen in the previous session. A pullback by Nvidia (NASDAQ:NVDA) may generate some selling pressure, as the chipmaker is slumping by 2.7 percent in pre-market trading. Nvidia held its…
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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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Unilever Initiates Ice Cream Division Spin-Off and Announces Job Cuts; Berkshire Ramps Up Share Buyback Efforts, and More
Unilever (NYSE:UL) – Unilever announced on Tuesday the spin-off of its ice cream unit, including Magnum and Ben & Jerry’s, into an independent business, accompanied by a cost-cutting program that would cut 7,500 jobs. The initial action resulted in a 3.2% increase in shares in pre-market trading. Berkshire Hathaway (NYSE:BRK.A) – Berkshire Hathaway has stepped…
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US Index Futures Decline Ahead of Federal Reserve Meeting, Oil Prices Retreat
In Tuesday’s pre-market trading, U.S. index futures are pointing to a decline, reflecting investors’ caution as they analyze revelations from Nvidia’s artificial intelligence conference and the growing anticipation for the future direction of U.S. monetary policy, especially with the commencement of the Federal Reserve’s (Fed) two-day meeting scheduled for today. By 06:30 AM, Dow Jones…
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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…
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AI Frenzy Fuels Surge in Themed ETF Investments, Spotlighting Nvidia’s Dominance
The explosion of interest in artificial intelligence has ignited a fervent rush into AI-themed Exchange-Traded Funds (ETFs), with investors eagerly seeking new avenues to capitalize on the rapid advancements in AI technology. This surge in interest follows the meteoric rises of AI pioneers like Nvidia, which has become synonymous with the AI revolution. The total…
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Pfizer Made Around $3.5 Billion From Haleon Shares Sale
Pfizer recently divested a portion of its investment in the consumer-healthcare company Haleon, cashing in approximately £2.75 billion ($3.50 billion). This strategic sale reduced Pfizer’s ownership in Haleon from 32% to 22.6%, involving the sale of 790.6 million Haleon shares at a price of 308 pence each. This pricing marked a 7% discount to Haleon’s…