After another rate rise, European equities grew further as investors pondered the European Central Bank’s (ECB) policy outlook. After the ECB’s decision, the Stoxx 600 was up 1% in London. This brought total gains since a September low to more than 19% on the verge of a technical bull market. The ECB announced a 50 …
The recent technical difficulty at the New York Stock Exchange (NYSE) has become a bargaining chip in the struggle between US regulators and Wall Street. The manual mistake occurred when trading began on January 24. It acts as a justification for why new trading should not be added to exchanges like the NYSE and Nasdaq …
The Hong Kong stock market plunge on Monday is an undeniable opportunity for Morgan Stanley. It suggests that investors purchase a dip. Relations between Beijing and Washington improve as China’s economy recovers. The Chinese market continues to have a low correlation with the US. The chief China equity strategist for the Wall Street bank is …
Last week, Rocket Lab Inc. launched its first rocket from US territory, carrying a payload of tiny satellites for a paying customer into space. The Long Beach-based startup had achieved a pinnacle moment. It expanded its reach from an existing launch site in New Zealand to its new facility in Virginia. The industry’s success bodes …
Rocket Lab’s Shares Falling, Unlike Their Rockets Read More »
In China, Apple captured the greatest quarterly market share by selling iPhones. It outran both COVID and the global economic slowdown. According to Counterpoint Research data, the Cupertino, California firm sold over 24% of all smartphones in China during the third quarter of 2022. The researchers say it was the country’s second-largest seller on an …
Nokia Oyj’s earnings topped expectations. Even amid a worse macroeconomic backdrop, as mobile carriers will be more cautious about 5G network spending, the company claims demand is healthy. Espoo is a Finland-based mobile network operator. It released a statement on Thursday, notifying that the adjusted operating profit climbed 27% to €1.15 billion ($1.3 billion) in …
The wave of companies cutting workers continued on Wednesday with International Business Machines Corp (IBM). The company will cut around 3,900 jobs. According to a spokesman, the reductions will come from Kyndryl Holdings Inc., an IBM spin-off company that provides IT services and is expected to face a $300 million charge due to its healthcare …
Rupert Murdoch merged News Corp. and Fox Corp. once. However, he decided to call the process off. He claimed that right now, the merger isn’t beneficial to the stockholders of the firms. Mr. Murdoch recommended that News Corp. and Fox be reunited 10 years after they split up last fall. The boards of the two …
In a decade of Wall Street wisdom, the death of the cheap-money era is redrawing the earnings map of Corporate America. This upends what stocks are bargain buys or high fliers in tomorrow’s market. A revenue slowdown and a new commodity cycle are weighing on Big Tech. Meanwhile, Amazon.com and Netflix Inc. have unexpectedly transformed into …
This year has been a struggle for the electric car company. Production problems in China, Twitter CEO Elon Musk’s purchase of the company, his dumping of tens of billions of dollars in his own Tesla stock, and a backlash over that deal. The stock, which had its deadliest year in 2022, has soured on investors. …
As he defended himself at a trial over his 2018 tweet about taking the electric car maker private, Tesla Inc CEO Elon Musk downplayed how much influence his tweets have on the company’s stock price. He said it’s impossible to establish a link between the stock price and the tweet in federal court in San …
Elon Musk Shrugs Off the Magnitude of His Tweets Read More »
Google workers were worried about being laid off when they saw colleagues at competitor technology companies lose their jobs in droves. Some of them couldn’t access their corporate accounts on Friday morning. Alphabet Inc. is the company’s owner. Eventually, it fired 12,000 workers or 6% of the workforce. Employees reported a smooth if unpersonalized process …
Google was unsuccessful in appealing an antitrust judgment against it in India’s Supreme Court. The court accused the firm of abusing its dominant market position for its Android mobile operating system. The country’s highest court denied Google’s request for temporary relief on Thursday. The firms’ appeals court was told to decide on the case by …
Economic numbers and corporate earnings reports clouded investors’ views of the economy’s health. This extended a streak of losses in equities Thursday. The S&P 500 didn’t have much momentum after initially opening lower, falling for the third day in a row. It has decreased by 0.8%. The Dow Jones Industrial Average fell 0.8% on the …
Given how much money Facebook and Instagram’s owner continues to pour into building its version of the metaverse, Meta Platforms Inc.’s market-beating rally of the past few months fails to convince some skeptics. Since the stock’s recent low in November, Meta has been the best performer in the S&P 500 Index, with a 54% gain. …
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