Interest in India has been picking up steadily among investors, thanks to its growing economy , strong stock market performance and burgeoning population . As the Diwali festive season gets underway in the South Asian powerhouse, several sectors — and stocks — are expected to do well, according to analysts at equity research firm Kotak Securities and asset management house Mirae Asset. Samvat 2081 — which starts on the day of Diwali on Oct. 31 — marks the start of the Hindu new year. Some investors view it as a new beginning for markets. The new year is commencing with…
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Jared Holz, Mizuho, joins ‘Fast Money’ to talk Eli Lilly shares sliding. Source link
In a Wednesday interview with CNBC’s Jim Cramer, Shake Shack CEO Rob Lynch discussed plans to expand across the country and internationally, suggesting the burger chain fits into a “fine casual” dining niche not occupied by many in the industry.”We have big aspirations, you know. My goal is to bring Shake Shack to the world,” Lynch said. “I don’t think there is a competitor for Shake Shack. We talk about ourselves as being a part of the fine casual movement; leading the fine casual movement.”Nearing ten years on the market, Shake Shack started business in New York City as part…
Elon Musk wears a black “Make America Great Again” cap while attending a campaign rally with Republican presidential nominee and former President Donald Trump at the Butler Farm Show fairgrounds in Butler, Pennsylvania, on Oct. 5, 2024.Anna Moneymaker | Getty ImagesElon Musk must attend an emergency court hearing in Philadelphia on Thursday to address a bid by the city’s top prosecutor to stop the Telsa CEO and his political action committee from continuing to award $1 million prizes to registered voters in the swing state of Pennsylvania, a judge ordered Wednesday.Also on Wednesday, Philadelphia District Attorney Larry Krasner revealed in…
Nishad Singh, former director of Engineering at FTX Cryptocurrency Derivatives Exchange, left, and Claire Watanabe, former senior executive at FTX Cryptocurrency Derivatives Exchange, arrive at court in New York, on Oct. 30, 2024.Mackenzie Sigalos | CNBCFormer FTX executive Nishad Singh was sentenced to time served and three years of supervised release on Wednesday, becoming the fourth ex-employee of the collapsed crypto exchange to be punished. Singh was also ordered to forfeit $11 billion.Singh faced a maximum sentence of 75 years but New York Judge Lewis Kaplan noted his cooperation with the government as “remarkable” and said he was entirely persuaded…
NASCAR suspended Truck Series driver Conner Jones for one race on Wednesday after he intentionally crashed another driver, Matt Mills — who was hospitalized for two days over the weekend as a result of the wreck.Jones, 18, lost his temper while racing Saturday at Homestead-Miami Speedway and rammed into Mills’ rear bumper, sending Mills’ truck up the racetrack and into the wall. Mills’ truck then caught fire. The driver was taken to a local hospital due to smoke inhalation.NASCAR issued a two-lap penalty to Jones at the time. But after meeting this week, officials determined that Mills’ behavior also warranted…
Bruce Flatt, C.E.O. of Brookfield Asset Management, speaks during the SALT conference in Manhattan, New York City, September 13, 2022.David Dee Delgado | ReutersSaudi Arabia’s Public Investment Fund on Wednesday signed a memorandum of understanding with Brookfield Asset Management, under which the wealth fund will serve as a strategic anchor investor for the asset manager’s newly announced private equity vehicle for the region, Brookfield Middle East Partners.Signed at the eighth edition of Future Investment Initiative, Saudi Arabia’s flagship annual economic conference in Riyadh, the non-binding agreement marks the kingdom’s latest push for financial partnerships that boost private equity investment and…
Check out the companies making headlines in extended trading: Microsoft — The technology giant added about 1% after surpassing Wall Street estimates on the top and bottom lines in the fiscal first quarter . Microsoft reported earnings per share of $3.30 on revenue of $65.59 billion, while analysts polled by LSEG forecast $3.10 in earnings per share and $64.51 billion in revenue. Booking Holdings — Shares of the online reservation company jumped almost 6%. In the third quarter, the company reported adjusted earnings of $83.39 per share and revenue of $7.99 billion, while analysts surveyed by LSEG expected $77.52 in…
A Carvana sign and signature vending machine in Tempe, Arizona.Michael Wayland | CNBCCarvana on Wednesday raised its 2024 earnings guidance after the online used-car retailer significantly topped Wall Street’s third-quarter expectations.Here’s how the company performed in the third quarter, compared with average estimates compiled by LSEG:Earnings per share: 64 cents vs. 25 cents expectedRevenue: $3.65 billion vs. $3.45 billion expectedThe company’s stock rose roughly 20% in after-hours trading Wednesday.For 2024 guidance, Carvana said its adjusted earnings before interest, taxes, depreciation and amortization would be “significantly above the high end” of its previous target of $1 billion to $1.2 billion. The company reported…
A Quarter Pounder with cheese, fries and a drink arranged at a McDonald’s restaurant in El Sobrante, California, on Oct. 23, 2024.David Paul Morris | Bloomberg | Getty ImagesNinety people in 13 states have been infected in a deadly E. coli outbreak linked to McDonald’s Quarter Pounders, the Centers for Disease Control and Prevention said Wednesday, as it continues to investigate the source of the spread.The outbreak has led to 27 hospitalizations and one previously reported death of an older adult in Colorado. Before Wednesday, the CDC last gave an update on the outbreak on Friday, when the agency said it…
