Technicians stand next to an oil rig which is manufactured by Megha Engineering and Infrastructures Limited (MEIL) at an Oil and Natural Gas Corp (ONGC) plant, during a media tour of the plant in Dhamasna village in the western state of Gujarat, India, August 26, 2021. Amit Dave | ReutersU.S. President Donald Trump added further pressure to India on Wednesday by bumping up tariffs to 50% — but calls for India to immediately stop buying Russian oil could cause global crude prices to spike, industry sources told CNBC.Trump has accused India of “fueling” Russia’s war machine and said the country is…
Author: usaeverydaylife
Stock-picking hedge funds climbed modestly in July, in line with the broader market, but their positioning has turned more cautious with the S & P 500 sitting near a record high. Global fundamental long-short hedge funds returned 1.5% in July on an asset-weighted basis, bringing their year-to-date gains to 7.8%, according to data from Goldman Sachs prime brokerage. Managers piled into individual stocks for a third straight month to ride the market’s resilient bull run, the data showed. Still, hedge funds were net sellers of technology stocks in July and bought defensive companies for the third month in a row,…
Driven Brands could be due for big gains ahead, according to JPMorgan. JPMorgan upgraded the automotive services stock to overweight from neutral in a Wednesday note, and raised its price target to $23 per share from $17. The firm’s forecast implies about 33% upside from Tuesday’s $17.33 close. The company owns oil change service Take 5, as well as other automotive services names such as Maaco Collision Repair & Auto Painting and Meineke Car Care Center. The firm on Tuesday reported better-than-expected second-quarter results , but shares are trading lower since it reiterated its full-year outlook. Analyst Christian Carlino said…
The head of the biggest railroad labor union in the U.S. is warning of transportation “meltdowns” if labor concerns and conditions are not met in the proposed merger between Union Pacific and Norfolk Southern.The merger, announced last week, would be the largest buyout ever in the rail sector, and would create the nation’s first coast-to-coast freight rail operator, combining Union Pacific’s strength in the western U.S. with Norfolk’s network primarily covering the eastern U.S.SMART Transportation Division (SMART-TD) has already stated its intention to petition the government to block the deal, with Union Pacific’s safety record among its primary concerns.”Without labor at…
OpenAI CEO Sam Altman speaks during the US Federal Reserve Board of Governors’ “Integrated Review of the Capital Framework for Large Banks Conference” at the Federal Reserve in Washington, DC, on July 22, 2025. Mandel Ngan | AFP | Getty ImagesOpenAI on Wednesday announced it will offer its ChatGPT Enterprise product to U.S. federal agencies for $1 through the next year, making its technology available to the federal executive branch workforce at “essentially no cost.”The company has been working to deepen its ties to lawmakers and regulators in recent months, and it will open its first office in Washington, D.C.…
Bern Skyline taken from the Rosengarten at sunrise in Switzerland. Church centre: Nydeggkirche Cathedral right: Berner Münster Bridge left: NydeggbrückeJoe Daniel Price | Moment | Getty ImagesSwitzerland is scrambling to make a trade deal with Washington as it looks to avoid a “triple blow” of economic problems after being hit with 39% tariffs on goods imported to the U.S.Swiss leaders this week travelled to Washington D.C. in an attempt to strike a deal with the U.S. administration in a bid to avoid the hefty duties which will come into effect Aug. 7.The 39% tariff rate, which is one of the…
Super Micro Computer shares plunged 20% on Wednesday after the company posted weaker-than-expected fiscal fourth quarter results, dented in part by President Donald Trump’s tariffs.CEO Charles Liang told investors on a conference call that the company has “taken measures to reduce the impact” of the tariffs.The company has in recent years benefited from surging demand for AI servers packed with Nvidia chips, but has growth has since slowed.The server maker also offered guidance late Tuesday that fell short of consensus estimates. Super Micro said it expects 40 cents to 52 cents in adjusted earnings per share on $6 billion to…
Evercore ISI is pounding the table on Astera Labs after the semiconductor company’s blowout quarterly results. Analyst Mark Lipacis reiterated his outperform rating on Astera, calling the stock an “AI pure play in [an] accelerating capex market.” He lifted his price target by $109 to $215, which suggests the stock can jump 58.6% from its latest close. Astera shares popped more than 34% on Wednesday, reaching an all-time high on the back of the company’s strong second-quarter results. The company’s third-quarter earnings and revenue guidance also beat analyst expectations. ALAB 1Y mountain Astera Labs performance over the past year. Lipacis…
Foot Locker and Dick’s Sporting Good stores.ReutersSen. Elizabeth Warren is calling on the FTC and DOJ to consider blocking Dick’s Sporting Goods’ proposed acquisition of Foot Locker, writing in a letter to the agencies that the merger could cut jobs, raise prices and reduce competition. The missive, sent Tuesday evening, asks the agencies to “closely scrutinize” the $2.4 billion merger and “block the deal” if they determine it violates antitrust laws. Warren, D-Mass., argues in the letter, which was seen by CNBC, that the tie-up could create a duopoly in sneakers and other athletic shoes between the combined companies and its…
US President Donald Trump meets with Indian Prime Minister Narendra Modi in the Oval Office of the White House in Washington, DC, on Feb. 13, 2025. Modi will try to rekindle his bromance with DonalJim Watson | AFP | Getty ImagesThe White House announced Wednesday that it is imposing an additional 25% tariff on India, bringing the total levies against the major United States trading partner to 50%. “I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” President Donald Trump said in an executive order. “Accordingly, and as consistent with applicable law, articles…
