The semiconductor sector has been under pressure, but Morgan Stanley sees opportunities in one corner: the bonder market. It’s a market that involves the production of integrated circuits and microelectronic components and is driven in part by the demand for electronics such as smartphones and electric vehicles. “Overall cycle is recovering slowly and equipment vendors with higher advanced packaging exposure should outgrow peers in 2H24 … We remain optimistic about the bonder market due to a combination of cyclical and secular tailwinds,” investment bank’s analysts wrote in an Aug. 22 research note. “The cyclical recovery that many were expecting in…
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Images By Tang Ming Tung | Digitalvision | Getty ImagesEmployers are increasingly putting workers’ 401(k) plan savings on autopilot.But the positive impact of automated retirement savings is more muted than initially thought, new research finds.Previously “underexamined” factors — like workers cashing out 401(k) balances when they leave a job — “meaningfully reduce” the long-term impact of policies like automatic enrollment and automatic escalation, according to a new paper published by the National Bureau of Economic Research.Importantly, some of the paper’s co-authors — James Choi of Yale University, and David Laibson and John Beshears of Harvard University — are behavioral economists…
Jaque Silva | Lightrocket | Getty ImagesAffirm shares jumped as much as 16% in after hours trading on Wednesday, after the provider of buy now, pay later loans reported better-than-expected fiscal fourth-quarter results.Here’s how the company did, compared to analysts’ consensus estimates from LSEG.Loss per share: 14 cents adjusted vs. 51 cents expectedRevenue: $659 million vs. $604 million expectedAffirm reported gross merchandise volume, or GMV, of $7.2 billion, up 31% from a year earlier. GMV is a key industry metric that helps gauge the total value of transactions over the reporting window.Revenue climbed 48% from a year earlier, and Affirm’s net loss…
Within each sector there will be winners and losers…even technology this year. I’ll review a speculative options trade on one of those losers. Semiconductor companies such as Marvell, Broadcom, and Nvidia have been on a tear this year. However, some software and IT services companies could have done better. MongoDB Inc (MDB) is a perfect example, down nearly 40% year-to-date. MongoDB is a technology company that develops and provides commercial support for the MongoDB database, an open-source, NoSQL (non-relational) database management system. Unlike traditional relational databases that store data in tables with rows and columns, MongoDB uses a flexible, document-oriented…
RBC’s Helima Croft joins ‘Fast Money’ from Jackson Hole to discuss the current state of global oil markets. Source link
Amanda Edwards | Getty Images Entertainment | Getty ImagesIn Middletown, Ohio, a line of fans snaked around the Skateway’s parking lot on Presidents Day. Traffic backed up on the main street out front. A pizza truck lumbered into the already crowded lot to deliver some pies. A crowd of predominantly young girls showed off Taylor Swift-themed bracelets and sang “Shake It Off.”The atmosphere had all the trappings of an Eras Tour stop. Except the singer was nowhere in sight.But that didn’t matter to the crowds of people who attended. And it didn’t matter to the rink owners. Over 300 skaters and…
Chipmaking giant Nvidia reported second-quarter financial results after the closing bell on Wednesday, and the numbers were predictably impressive. The firm reported a 122% increase in sales in the quarter ending in July to go along with earnings that eclipsed Wall Street expectations.Shares were down about 6% on Thursday.It’s not often that a company posting better-than-expected results dings the share price, but Nvidia is an unusual case. The shares are up 146% on the year and an eye-watering 2,700% over the past half-decade. At this point, investors are undoubtedly beginning to wonder whether they’ve already baked in astronomical expectations for…
Keir Starmer, UK prime minister, left, and Olaf Scholz, Germany’s chancellor, ahead of their meeting at the Chancellery in Berlin, Germany, on Wednesday, Aug. 28, 2024.Krisztian Bocsi | Bloomberg | Getty ImagesU.K. Prime Minister Keir Starmer and German Chancellor Olaf Scholz met in Berlin on Wednesday with a view to deepen ties amid a broader reset of relations after London’s exit from the European Union.In a press conference following the meeting, Starmer said areas of the bilateral agreement under discussion could include energy security, defence, climate change and economic themes. A strong relationship between the countries was also highly important…
Environmental activists calling for an international moratorium on deep-sea mining.Sopa Images | Lightrocket | Getty ImagesBrazilian marine scientist Leticia Carvalho will be the first-ever woman, oceanographer and person of Latin American heritage to lead the International Seabed Authority — and she says it “feels fantastic.””I am very proud,” Carvalho told CNBC via videoconference. “I think it is quite meaningful that someone new, fresh and with a different perspective is coming to take over.”The ISA, a little-known U.N. regulator that oversees deep-sea mining, is responsible for both the exploitation and conservation of an area that covers around 54% of the world’s…
Travelers may have finally had enough.With revenge travel over and pandemic savings depleted, travelers say they’re planning fewer trips this summer, or skipping their vacations altogether.”After two straight years of strong gains, the number of Americans planning to take leisure trips is taking a dip,” states a summer travel report from Deloitte Insights.The close of the second-quarter earnings season showed that major companies such as Marriott, Hyatt, Wyndham, Airbnb and Expedia are expecting travel demand to weaken this year as well. ‘Too expensive’ to travel nowAmericans are planning 2.3 trips this summer, down from 3.1 trips from the summer of…
