Category: Latest News
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Investment Insights: Expert Analyst Opinions on Adobe, Broadcom, Comcast, Fair Isaac, Salesforce…
3M Company: Barclays upgrades to equalweight from underweight with a price target raised from $98 to $107. Adobe: Barclays maintains its equalweight recommendation and raises the target price from $640 to $680. AT&T: BNP Paribas Exane initiates an underperform recommendation with a target price of $13. Autozone: JP Morgan maintains its overweight recommendation and raises…
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Spotify To Cut About 17% Staff
Spotify Technology (NYSE:SPOT), a digital music, podcast, and video service provider, has announced its plans to reduce its workforce by approximately 17% as part of cost-cutting measures aimed at improving productivity and efficiency. This decision will impact approximately 1,500 employees, according to reports. In pre-market trading on the NYSE, Spotify shares were up by more…
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Base Metals Pulled Back, Gold Softened
Base metals pulled back, with investors looking ahead to Friday’s U.S. nonfarm payrolls figure and how it will affect Fed policy. “Weaker job numbers on Friday would push the dollar lower and lever our commodity markets higher,” Peak Trading Research said. Gold prices softened, having spiked during the Asian trading hours and after hitting a…
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Oil Futures Down
Oil futures were down more than 1%, giving up Asian gains, on uncertainties around the OPEC+ voluntary output cuts and global demand growth. Meanwhile, geopolitical tensions in the Middle East intensified as Israel resumed combat operations in Gaza and after Iran-backed Houthi forces in Yemen claimed responsibility for attacks against a U.S. destroyer and three…
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Bonds May Fall Further
The 10-year Treasury yield may fall further, based on technical charts, UOB’s Global Economics & Markets Research said. The pace and extent of the 10-year yield’s decline over the past month has exceeded UOB’s expectations, and the 10-year yield could continue to drop over the next two months. However, any further fall will likely encounter…
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Euro Likely To Weaken
The euro is likely to weaken as focus for the currency centers on easing inflation pressures, with a secondary focus on slowing growth, NatWest Markets said. “Both play euro negative against the dollar and on the crosses.” The latest eurozone inflation data, which were much lower than expected, suggest that the European Central Bank needs…
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Stock Futures, Bonds Dip as Post-Powell Caution Persists
Stock futures were trading in the red on Monday, with bond prices also weakening amid some tempering of recent enthusiasm over the potential for Federal Reserve interest rate cuts. Investors will be looking ahead to important data this week to keep supporting the case for a rate cut, with November nonfarm payrolls numbers due at…
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Alaska Air Acquires Hawaiian Holdings, Spotify Cuts 1,500 Jobs, Uber’s S&P 500 Entry, and More
U.S. index futures are down in Monday’s pre-market trading, reversing some of last week’s gains. This comes amidst growing bets that the Federal Reserve will keep interest rates unchanged at the upcoming monetary policy meeting and initiate a decline next year. Despite efforts by Fed Chairman Jerome Powell to discourage expectations of rate cuts, stating…
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US Futures Slip, European Stocks Mixed
U.S. futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average declined 0.2%. Changes in futures do not necessarily predict movements after the opening bell. In Europe, the Stoxx Europe 600 dropped 0.1% in morning trading. alstria office REIT rose 7.9% and Rolls-Royce Holdings added 3.6%. On the other…
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Top Company News of the Day: Origin Energy, Roche, Spotify, Evergrande
Brookfield-Led Consortium’s $11 Billion Bid for Origin Energy Fails An $11 billion bid for Origin Energy, one of Australia’s largest power companies, was rejected by its shareholders on Monday in a stark illustration of how investors are adopting different strategies to bet on the energy transition. Roche to Buy Carmot Therapeutics for $2.7 Billion Roche…