Check out the companies making headlines before the bell. HealthEquity — Shares of the health-focused fintech company plunged 15% following weaker-than-expected fourth quarter earnings. HealthEquity, posted non-GAAP earnings per share of 69 cents on revenue of $311.8 million. Analysts polled by FactSet expected earnings of 72 cents per share on revenue of $305.8 million. General Mills — Shares lost more than 3% after General Mills lowered its full-year guidance and reported a top-line miss for the third quarter. The processed food company now sees organic net sales falling between 1.5% to 2% in the full-year, versus previous calls for flat…
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The leaders of the Democratic Republic of Congo and Rwanda have called for a cease-fire in eastern Congo in a bid to end the latest deadly chapter in a three-decade conflict.Presidents Félix Tshisekedi of Congo and Paul Kagame of Rwanda committed to an “immediate and unconditional cease-fire,” according to a joint statement issued with Qatar, where the two leaders gathered for an unannounced meeting on Tuesday.They did not say how the cease-fire would be carried out or monitored. But the meeting was the leaders’ most significant step since a Rwanda-backed armed group, called M23, captured eastern Congo’s two largest cities…
A deteriorating macro picture could weigh down Goldman Sachs ‘ capital markets activity, according to Oppenheimer. Analyst Chris Kotowski downgraded shares of the investment bank to perform from outperform. He also removed his price target of $709 per share. The analyst cited a “delayed or cancelled” rebound in mergers and acquisitions activity as the main catalyst for his downgrade. “Coming into this year, we were very optimistic about a major rebound in M & A activity, and its attendant financing activity,” he wrote. “There is, however, thus far no visible sign of this M & A rebound … Moreover, we…
Cantor Fitzgerald thinks investors who have thrown in the towel when it comes to Tesla are missing the bigger picture. The Wall Street firm upgraded shares of the electric vehicle maker to overweight from neutral and kept its $425 price target. That forecast implies upside of 88.6%. Shares of Tesla have plummeted 44% this year, in part due to concerns over CEO Elon Musk’s growing presence in the U.S. government and rising global competition. However, analyst Andres Sheppard pointed to Tesla’s pullback as a buying opportunity. “We believe the recent selloff represents an attractive entry point for investors with >…
Sheldon Cooper | Lightrocket | Getty ImagesSwiss drugmaker Roche has abandoned global targets for a more diverse workforce to avoid penalties from recent U.S. executive orders, the latest in a slew of companies to do so.Among measures taken, Roche said its Chief Diversity Offices in the U.S. and at its Basel headquarters “will focus on inclusion and belonging, and responsibilities will be re-scoped accordingly”. Diversity was not mentioned under the Offices’ new remit.According to a memo to global staff made available to Reuters, the changes were made to ensure that Roche “can continue to deliver medicines and diagnostic solutions to…
German defense names fall day after spending package approved by parliamentGerman defense stocks were lower in mid-morning trade, a day after the country’s parliament approved a landmark fiscal package that will allow higher government defense and infrastructure spending.Rheinmetall, one of the top performers on the Stoxx 600 on Tuesday, was down 6.3% at 10:40 a.m. in London. Renk Group and Hensoldt were 10% and 8.5% lower, respectively.Defense names have been on a strong run this year on expectations of security spending boosts across the region.”It’s going to be some time before we see contracts coming through and the implications from…
Wall Street analysts left Nvidia ‘s flagship GPU Technology Conference on Tuesday feeling generally optimistic on the AI darling’s future. During a keynote speech, CEO Jensen Huang announced new chips for deploying artificial intelligence models. These models are expected to ship in 2026, he said. However, some were left underwhelmed. The stock dropped more than 3% on Tuesday, bringing its year-to-date losses to more than 14%. This is a departure from previous years, as the GTC conference had been a positive catalyst for shares in previous years . Jefferies analyst Blayne Curtis noted that while “the rate of innovation on all…
AI chip king Nvidia is doing everything it can to defend its crown. That was much clear from CEO Jensen Huang’s GTC keynote address Tuesday. Whether it’s enough to restore the shine to the company’s stock in the coming days remains to be seen. During his roughly two-hour presentation at Nvidia’s premier showcase event, Huang announced several new hardware and software products — some predictable, some surprising — that reinforced Nvidia’s leadership position in the fast-moving artificial intelligence race. It is undeniable that Nvidia is not satisfied with what it has accomplished on its way to becoming one of the…
Istanbul Municipality Mayor Ekrem İmamoğlu speaks at the 19 May Commemoration of Atatürk, Youth and Sports Day celebrations held at the Maltepe Event Area on May 19, 2023 on Istanbul, Turkey. Hakan Akgun | Getty ImagesThe Turkish lira fell to a record low against the dollar and the country’s benchmark stock index dropped by as much as 7% following the surprise arrest of Istanbul mayor Ekrem Imamoglu — a rival of Turkish President Recep Tayyip Erdogan and leading opposition party figure — on charges he denies.The lira was trading as low as 40.96 to the U.S. dollar, according to Refinitiv data,…
Russia has said it would agree to a limited cease-fire that would stop attacks on energy infrastructure, a proposal Kyiv has signaled it is open to but has yet to officially approve. An agreement would be the first significant step toward de-escalation since the start of the full-scale war more than three years ago.On Wednesday, Ukraine and Russia traded accusations of attacks against each others’ energy infrastructure, a day after the proposed agreement was reported, highlighting the lack of trust between the two countries and how tenuous any deal would be.Strikes against energy facilities have been a key part of…
