Topgolf Callaway Brands could be due for big gains over the next several months as its breakup into two separate companies gets underway, according to Jefferies. Analyst Randal Konik upgraded the stock to buy from hold and increased his price target to $13 from $11, which implies 65.4% upside potential from Tuesday’s close. The call comes as shares of the golf and active lifestyle company have plummeted nearly 45% over the past year. Over the past six months, they are down more than 47%. MODG 1Y mountain MODG, 1-year “While TG fundamentals are weak, and MODG has suffered misexecution, shares…
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A view from the United States Department of the Treasury building in Washington DC, United States on December 30, 2024. The US Treasury Department was cyberattacked by a Chinese state-sponsored actor in early December. Celal Gunes | Anadolu | Getty ImagesChinese government hackers breached the U.S. Treasury office that administers economic sanctions, the Washington Post reported on Wednesday, identifying targets of a cyberattack Treasury disclosed earlier this week.Citing unnamed U.S. officials, the Washington Post said hackers compromised the Office of Foreign Assets Control and the Office of Financial Research and also targeted the office of U.S. Treasury Secretary Janet Yellen.The department…
The euro and British pound hit multi-month lows against the U.S. dollar on Thursday, as the fresh trading year kicked off and investors geared up for the return of Donald Trump to the White House this month.The euro was 0.33% lower against the greenback at $1.032 shortly before 1 p.m. in London, hitting its weakest level since November 2022. Sterling dropped 0.78% to $1.242, an eight-month low.Optimism around the U.S. economy and equities was in focus as markets reopened following disrupted trade over Christmas and the New Year. Wall Street stock futures were higher amid declines in Europe and the…
A couple of catalysts could spell substantial gains for Cloudflare over the next several months, according to Goldman Sachs. The firm double upgraded shares of the cloud company to buy from sell and almost doubled its price target, increasing to $140 from $77. That reflects around 30% upside ahead, as of Tuesday’s close. “Recall that our Sell thesis was predicated on post COVID normalization driving more muted revenue growth, and the company’s progress in network security (SASE) and in the enterprise taking longer and costing more than originally planned,” analyst Gabriela Borges wrote in a Wednesday note. “Cloudflare outperformed S…
A home for sale in Austin, Texas, on May 22, 2024.Brandon Bell | Getty ImagesA sharp rise in mortgage interest rates toward the end of December took its toll on mortgage demand, hitting just as the housing market entered its typically slowest stretch of the year.Total mortgage application volume for the two weeks ended Dec. 27, 2024, dropped 21.9% compared with the week before that period, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made to account for the Christmas holiday. The MBA released two weeks of data after being closed over the holiday.During that…
The Mitte Combined Heat and Power (CHP) natural gas power plant, operated by Vattenfall AB, in Berlin, Germany, on Wednesday, Jan. 1, 2025.Bloomberg | Bloomberg | Getty ImagesUkraine halted the flow of Russian gas to several European countries on New Year’s Day, bringing an end to Moscow’s decades-long dominance over Europe’s energy markets.Russia’s state-owned energy giant Gazprom confirmed gas exports to Europe via Ukraine stopped at around 8 a.m. local time (5 a.m. London time) on Wednesday.The widely expected move marks the end of a five-year transit agreement between Russia and Ukraine, with neither side willing to strike a new…
An impending decision on the Department of Justice’s antitrust case against Google could mean a pullback for Alphabet shares in the coming months, according to Citizens JMP. The firm downgraded the tech giant to market perform from market outperform, citing the risk of antitrust penalties that it believes could “significantly impact” Google’s U.S. distribution of search and its revenue. The move comes after a federal judge ruled in August 2024 that the company illegally held a monopoly in both search and text advertising . Following that ruling, the DOJ has called for Google to divest its Chrome browser as a…
Buildings in the central business district in Singapore, on Wednesday, Feb. 14, 2024. Singapore’s economy expanded by a slightly more modest pace than initially expected in 2023, as manufacturing activity contracted and services growth slowed. Nicky Loh | Bloomberg | Getty ImagesSingapore’s economy grew 4.0% in 2024, accelerating from 1.1% growth in 2023, preliminary government data showed on Thursday.Gross Domestic Product (GDP) rose 4.3% in the fourth quarter from a year earlier, according to advance estimates from the trade ministry, above a median forecast of 3.3% in a Reuters poll of economists.On a quarter-on-quarter seasonally adjusted basis, GDP expanded 0.1% in the October-December period, the advance estimates showed.November’s annual inflation rate of…
FBI investigators arrive at the scene where the white Ford F-150 pickup truck that crashed into a work lift after allegedly driving into a crowd of New Year’s revelers in the French Quarter of New Orleans, Louisiana, on January 1, 2025. Matthew Hinton | Afp | Getty ImagesInvestigators in New Orleans were searching on Thursday for what motivated a U.S. Army veteran flying an ISIS flag from his truck to plow into a crowd of New Year’s revelers, killing 15 people and injuring 30 more before dying in a shootout with police.The probe was focused on whether the suspect, Shamsud-Din Jabbar,…
French President Emmanuel Macron delivering his televised New Year’s address to the nation from the Elysee Palace in Paris on Dec. 31, 2024.Kiran Ridley | Afp | Getty ImagesAs France enters the new year, there’s little hope that the political and economic uncertainty that’s been plaguing the euro zone’s second-largest economy for months will disappear in 2025.France was plunged into a political crisis last summer when snap parliamentary elections, called by President Emmanuel Macron, failed to produce a decisive result, with both far-left and far-right parties claiming victory in the polls.Amid infighting over who should govern, Macron installed a centrist,…
