Check out the companies making headlines in premarket trading. Thor Industries — Shares dropped 2% after the RV maker issued disappointing fiscal year earnings guidance. The company expects earnings per share to range between $4 and $5, well below a StreetAccount estimate of $6.27 per share. Arlo Technologies — The security systems company popped 3% after authorizing a $50 million share repurchase program. It comes amid a strong year, with shares surging about 24.5% in 2024. Visa — Shares slid 2% following a Bloomberg report that the Justice Department is planning to file a monopoly lawsuit against the payment network…
Author: usaeverydaylife
Here are the most important news items that investors need to start their trading day:1. Inching higherU.S. stocks climbed again Monday as investors digest the Federal Reserve’s major rate cut last week. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite all rose only modestly, as the 30-stock Dow notched another record close. As traders look ahead to the Fed’s next policy decision in November, stocks could become more responsive to signs of economic weakness. One indicator will come Tuesday in the Conference Board’s consumer confidence reading for September. Follow live market updates.2. No clear pathNeel Kashkari, President and…
Caroline Ellison, former chief executive officer of Alameda Research LLC, center, arrives at court in New York, US, on Tuesday, Oct. 10, 2023. Yuki Iwamura | Bloomberg | Getty ImagesCaroline Ellison was the star witness in the criminal case against disgraced FTX founder Sam Bankman-Fried. On Tuesday, she will face her own sentencing.Ellison’s role in the implosion of the crypto empire run by her former boss and ex-boyfriend Sam Bankman-Fried was to lie to investors, help steal billions of dollars from FTX customers, and subsequently re-purpose those funds toward bets and debts accrued at Alameda Research, the digital asset hedge fund she…
California’s attorney general sued ExxonMobil on Monday, alleging that the company had waged a “campaign of deception” for decades to mislead consumers and convince them that recycling was a viable solution for plastic waste. The lawsuit, filed in Superior Court of California in San Francisco, says ExxonMobil promoted recycling as a “cure-all for plastic waste,” even though the company knew that plastic would be difficult to eradicate and that certain methods of recycling could not process much of the waste produced. It further alleges that ExxonMobil violated state regulations over water pollution and misleading marketing, among others. “Exxon Mobil knew that 95% of…
Nvidia is the latest poster child on Wall Street for “10 baggers,” stocks that soar in price 10 times. But the AI chipmaker’s path to ” 10-bagger ” status included what is also a typical slump (or two) along the way, according to Trivariate Research. The dominant maker of artificial intelligence processors is among the most recent names to climb 10-fold over five years, earning it the coveted 10-bagger designation, according to Trivariate founder and former Morgan Stanley chief U.S. equity strategist Adam Parker. But the history of these stocks also gave Parker a cautionary tale for investors searching for…
Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022.Christopher Goodney | Bloomberg | Getty ImagesNovo Nordisk’s top executive is slated to face a Senate grilling on Tuesday over the high prices of the company’s weight loss drug Wegovy and diabetes treatment Ozempic, as demand for both injections soars in the U.S. Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.m. ET on Tuesday in Washington, D.C. It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs…
Microsoft-owned GitHub says that 90% of the world’s open-source projects are stored on its code repository platform.Jonathan Raa | Nurphoto via Getty ImagesMicrosoft-owned developer platform GitHub on Tuesday said it is giving enterprise users the ability to limit the storage of their sensitive software code to data centers located in the European Union.The move, which is part of a bid to meet the bloc’s strict data protection requirements, comes amid a broader political push for digital “sovereignty.”The company said that it would offer customers of its GitHub Enterprise Cloud greater control over where their repository data is stored, with the option to…
Jamie Dimon, Chairman and Chief Executive officer (CEO) of JPMorgan Chase & Co. (JPM) speaks to the Economic Club of New York in Manhattan in New York City, U.S., April 23, 2024. Mike Segar | ReutersA year after Jamie Dimon named geopolitics as the world’s biggest risk, JPMorgan Chase’s CEO sounded the alarm again, warning that the state of global stability has gotten worse.During his visit to India, Dimon said in an exclusive interview with CNBC-TV18 released Tuesday: “My caution is all geopolitics, which may determine the state of the economy.””Geopolitics is getting worse, they are not getting better. There is…
(This is CNBC Pro’s live coverage of Tuesday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A software giant and a home improvement retailer were among the stocks being talked about by analysts on Tuesday. Piper Sandler upgraded shares of Salesforce to overweight, with its new price target implying upside of more than 20%. Lowe’s, meanwhile, got an upgrade to outperform at Oppenheimer. Check out the latest calls and chatter below. All times ET. 6:02 a.m.: Jefferies downgrades Starbucks to underperform Jefferies is bracing for more troubles ahead for shares of Starbucks…
U.S. Federal Reserve Chair Jerome Powell holds a press conference in Washington, D.C., on Sept. 18, 2024.Mandel Ngan | AFP | Getty ImagesThe Federal Reserve’s move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs’ chief financial officer.His comments come as market participants question whether the U.S. central bank’s jumbo rate cut has been delivered in time to bring down inflation without pushing the economy into recession.Some analysts have raised concerns about the outlook for the U.S. economy, warning that similar supersized rate cuts couldn’t avert the…
