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Top Company News of the Day: Albemarle, Chinese Developers, Electric Cars, SoftBank
Albemarle Raises Bid for Australia’s Liontown Resources to $4.25 Billion The deal would be one of the largest in the lithium-mining industry. Chinese Developer Stocks Jump on Easing Mortgage Policy Shares of Chinese property developers rose sharply, as more major cities said over the weekend that they would ease mortgage policies in a bid to…
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U.S. Stocks Turn In Lackluster Performance Following Mixed Jobs Data
Stocks moved mostly higher in early trading on Friday but quickly gave back ground and showed a lack of direction over the remainder of the session. The major averages pulled back off their early highs and spent much of the day lingering near the unchanged line. The Dow managed to spend most of the day…
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Unexpected Increase In Unemployment Rate May Lead To Strength On Wall Street
US Market The major U.S. index futures are currently pointing to a higher open on Friday, with stocks likely to see initial strength following the mixed performance seen in the previous session. The futures saw further upside following the release of the Labor Department’s highly anticipated report on employment in the month of August. While…
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Payroll Shows Creation Of 187,000 Jobs In August, Above Consensus
The US urban employment report, known as the Payroll, showed the creation of 187,000 jobs in August, above the market consensus estimate of 170,000 jobs, the US Bureau of Labor Statistics said. According to the report, the unemployment rate increased 3.8% in the month, with 6.4 million unemployed in the country. The number was also…
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Keep An Eye Out: Pre-Market Movers And Recommendations
Cvs Health (NYSE:CVS): Piper Sandler & Co maintains its overweight rating with a reduced target price of $82. Dell (NYSE:DELL): Credit Suisse maintains its outperform rating with a target price raised from $62 to $74. Dollar General (NYSE:DG): Citi maintains a neutral recommendation with a reduced target price of $146. Ecolab Inc (NYSE:ECL): Berenberg maintains its recommendation with…
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Amazon Shareholder Sues Board, Bezos Over Blue Origin Launch Contracts
An Amazon (NASDAQ:AMZN) shareholder has filed a lawsuit against founder Jeff Bezos and Amazon’s board, alleging that the directors failed to adequately evaluate the decision to award launch contracts for the company’s Project Kuiper satellite to Blue Origin, Bezos’ space company. The lawsuit, filed earlier this week by Cleveland Bakers and Teamsters Pension Fund, claims…
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Tesla Introduces New Version Of Model 3 And lowers Prices To Boost Sales
Tesla Inc. (NASDAQ:TSLA) has unveiled the first update to its popular Model 3 sedan, featuring a sleeker look and longer range, while simultaneously lowering the prices of its premium cars in the US and China. This move is part of CEO Elon Musk’s comprehensive effort to ramp up sales. The revamped four-door sedan boasts a…
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Dell’s Profit Drops 10% in 2nd Fiscal Quarter of 2024
Dell (NYSE:DELL) reported a net profit of $455 million in the second fiscal quarter of 2024, a 10% decline compared to the $506 million reported in the same period the previous year. Shares of the company jumped 9.6% in premarket activity Friday. The result fell short of analysts’ expectations polled by FactSet, which were at…
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Samsung Joins Nvidia’s AI Vendor Roster, Shares Rise 6.13%
Shares of Samsung Electronics Co. (KOSPI:530036) surged over 6% on rumors that the company has secured the right to supply advanced memory chips to AI leader Nvidia Corp. (NASDAQ:NVDA). South Korea’s largest electronics company will begin supplying the HBM3 chip – a newer generation of memory optimized for working with AI accelerators – starting in…
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North American Morning Briefing: Jobs Report Eyed for Hiring Slowdown
Market Wraps Watch For: Employment Report for August; Construction Spending for July; ISM Report on Business Manufacturing PMI for August; Canada GDP for June Today’s Headlines/Must Reads – China Central Bank to Cut FX Reserves Ratio – The Generational Paradigm Shift Taking Over Markets – UAW Accuses GM, Stellantis of Unfair Labor Practices Opening Call:…