Analyst news

• Expedia to cut about 1,500 jobs

  26-02-2024 23:33 via rocketnews.com
  Expedia Group Inc. said late Monday it expects to lay off about 1,500 employees as it works to “recalibrate resources.”Expedia EXPE, -0.99%said the employees affected started getting notified on Monday.The online travel company, which also owns brands such as VRBO and Hotels.com, said that it was committed to “restructuring actions” that resulted in the layoffs, in a filing with U.S. securities regulators. All pre-tax charges and costs associated with the restructuring ar
  
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• Unity’s stock sheds nearly a fifth of its value as earnings, forecast underwhelm

  26-02-2024 23:10 via rocketnews.com
  Unity Software Inc. shares were tumbling in late trading Monday after the app-monetization company whiffed with its latest results and forecasts. The company forecast $415 million to $420 million in fiscal first-quarter revenue for what it calls its “strategic portfolio,” deeming that its non-strategic portfolio will not be a meaningful contributor to revenue going forward. The FactSet consensus was for $534 million in revenue. Unity U, +5.69%also sees full-year revenue of $1.7 billi
  
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• iRobot narrows its loss, and shares jolt higher

  26-02-2024 23:03 via rocketnews.com
  Shares of iRobot Corp. initially jumped 10% then cooled in after-hours trading Wednesday after the company posted quarterly results that topped analysts’ revenue and earnings estimates.The vacuum maker IRBT, +4.30%reported a fiscal fourth-quarter net loss of $63.6 million, or $2.28 a share, compared with a net loss of $84.1 million, or $3.07 a share, in the same quarter a year ago. Adjusted earnings were a loss of $1.82 a share. Revenue dropped to $307.5 million from $357.9 million in the
  
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• CarGurus had a better quarter, but all eyes focus on weaker guidance

  26-02-2024 22:41 via rocketnews.com
  CarGurus Inc. shares fell more than 11% in the extended session Monday after investors looked past a better-than-expected quarter for the online car-selling platform to zero in on weaker current-quarter guidance. CarGurus CARG, +0.21%lost $23.7 million, or 21 cents a share, in the fourth quarter, contrasting with gains of $159 million, or 20 cents a share, in the year-ago period.Adjusted for one-time items, the company earned 35 cents a share. Revenue fell 22% to $223.1 million.Analysts polled b
  
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• Japanese stocks are at a record high, revealing a primary lesson about investing

  26-02-2024 22:38 via rocketnews.com
  Investors are drawing the wrong lessons from Japan’s Nikkei 225 Index JP:NIKtopping its 1989 high last week. Many investment professionals claim this proves that stocks eventually produce a profit, if you just hold on long enough. In truth, the correct lesson to draw from Japan’s experience is that stocks are far riskier than most assume, and there are no guarantees.Most investors ignore Japan altogether when concluding that stocks should come out ahead over investment horizons as sh
  
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• Dow snaps three-day winning streak as investors await new U.S. inflation data

  26-02-2024 22:34 via rocketnews.com
  U.S. stocks ended lower on Monday as investors braced for a busy week of economic data and looked for more catalysts to take the market higher following a boost from Nvidia last week.How stocks traded The Dow Jones Industrial Average DJIAdropped 62.30 points, or 0.2%, to close at 39,069.23, according to Dow Jones Market Data. The S&P 500 SPXdeclined 19.27 points, or 0.4%, to end at 5,069.53. The Nasdaq Composite COMPfell 20.57 points, or 0.1%, to finish at 15,976.25.The Dow last week rose 1.
  
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• Broadcom stock rises to a record after $4 billion deal to sell its EUC Division

  26-02-2024 22:25 via rocketnews.com
  Shares of Broadcom Inc. rallied into record territory Monday, after the semiconductor and software company agreed to sell its End-User Computing Division to KKR & Co. Inc. in a deal valued at $4 billion. Broadcom’s stock AVGO, +0.98%climbed 1% on Monday and closed at $1,309.13, topping its Feb. 22 previous record close of $1,304.90.The stock’s rally has lifted Broadcom’s market capitalization to $613.8 billion, which makes the company the 10th-most valuable in the S&P 5
  
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• Workday logs profit beat and inks AI deal, but stock drops after earnings

  26-02-2024 22:18 via rocketnews.com
  Shares of Workday Inc. fell 5% in after-hours trading Monday after the software company merely met revenue expectations for the latest quarter, while announcing an artificial-intelligence deal. The company reported fiscal fourth-quarter net income of $1.2 billion, or $4.52 cents a share, whereas it reported a net loss of $126 million, or 49 cents a share, in the year-earlier period. Net income in the latest quarter reflected a $1.1 billion release of a valuation allowance related to deferred tax
  
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• Zoom’s stock jumps 13% on strong results, guidance amid AI push

  26-02-2024 22:16 via rocketnews.com
  Zoom Video Communications Inc.’s stock surged in extended trading Monday, after the videoconferencing company topped expectations across the board with its financial results and forecasts. The company also authorized a $1.5 billion buyback. Zoom  ZM, -0.44%reported fiscal fourth-quarter net income of $298.8 million, or 95 cents cents a share, on revenue of $1.15 billion, up from $1.12 billion a year ago. After adjusting for stock compensation and other effects, Zoom reported earn
  
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• El Erian: Investors need the U.S. to be the world’s growth engine. That’s a tall order.

  26-02-2024 22:07 via rocketnews.com
  “Optimism is fine, but pay attention to economic headwinds and risks.”What happens in the United States does not stay in the United States. The global economy depends on America to act as a main engine of growth, and global financial markets depend on U.S. investors’ outsize appetite for risk. This became particularly evident in 2023 when major economies like Japan and the United Kingdom slipped into recession, Germany narrowly avoided one, and China grappled with obstacle
  
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• Why international stocks may be an ‘inexpensive hedge’ as S&P 500 outperforms rest of the world

  26-02-2024 20:56 via rocketnews.com
  The S&P 500 has been beating the rest of the world for years, but diversifying geographically may now be “an inexpensive hedge” against a potential correction in U.S stocks, according to Morgan Stanley Wealth Management. The S&P 500 SPX,a gauge of U.S. large-cap stocks, has climbed 6.4% this year based on Monday afternoon trading levels, surpassing the rest of the world’s gains year to date, FactSet data show. Shares of the iShares MSCI ACWI ex U.S. ETF ACWX,which inves
  
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• Does Haley have the money to stay in the GOP race for Super Tuesday? ‘Absolutely,’ one expert says.

  26-02-2024 20:52 via rocketnews.com
  Nikki Haley looks likely to remain in the Republican presidential race and take part in the Super Tuesday primaries on March 5, even as big donors such as the Koch network stop their spending on her longshot run, according to one expert in campaign finance. “Does she have the money to hang on until the first Tuesday in March? Absolutely, she does,” said Robin Kolodny, a professor of political science at Temple University. Kolodny stressed that the bare minimum for staying in any race
  
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• Treasury’s $63 billion auction of 2-year notes produces solid outcome, strategist says

  26-02-2024 17:48 via rocketnews.com
  Monday’s $63 billion sale of 2-year notes was met with good demand,according to a strategist.The 11:30 a.m. Eastern sale drew more indirect bidders than usual, with that group being awarded 65.2% versus an average of 62.8%, according to Vail Hartman of BMO Capital Markets. Hartman used the word “solid” to sum up the results. The $63 billion auction is set to be followed by a $64 billion sale of 5-year notes, scheduled for 1 p.m. ET. Treasury yields remained slightly higher
  
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• Amazon lost nearly $1 billion on its Rivian investment last week

  26-02-2024 17:34 via rocketnews.com
  Shares of Rivian Automotive Inc. rose Monday, but only after it just suffered its worst week since going public, in the wake of the electric-vehicle maker’s disappointing earnings report. That selloff has been pretty painful to some high-profile corporate investors in the company. Amazon.com Inc. AMZN, -0.05%is Rivian’s largest shareholder with a stake of about 158.4 million shares, or 16.6% of the shares outstanding.Last week’s selloff in Rivian’s stock RIVN, +7.45%lower
  
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• ‘I want to do what is right’: My father died without a will. His wife moved out of state — and left me paying the mortgage. 

  26-02-2024 17:24 via rocketnews.com
  Dear Quentin,My father died in 2021 with no will. He shared a home with his second wife. The house is financed under both their names with a small amount of equity ($40,000). She moved out of state shortly after he died. I moved into the house and have been paying the note since. She can’t afford the monthly payments. I am second in succession as his only child. I need a place to live while I fix my other home. My FICO score FICO, +1.02%is very poor, but it will increase when I pay of
  
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• Dow struggles for direction as investors look for fresh catalysts

  26-02-2024 17:24 via rocketnews.com
  Investors will get a fresh batch of economic data this week, including the Fed’s preferred inflation gauge, the PCE price index. AFP via Getty ImagesU.S. stocks were struggling to build on gains Monday morning as investors braced for a busy week of data and looked for more catalysts to take the market higher following a boost from Nvidia last week. What’s happening The Dow Jones Industrial Average DJIAwas up 2 points, or less than 0.1%, at 39,134. The S&P 500 SPXfell 5 points, or
  
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• Domino’s stock jumps as ‘emergency pizza’ offer helps fuel earnings beat

  26-02-2024 17:23 via rocketnews.com
  Domino’s Pizza Inc. delivered sharp gains for its shares Monday, after the pizza chain logged a profit beat for its latest quarter, amid strength in both delivery and carryout sales. What helped drive results that its rewards program increased by 3 million active members, or 10%, to end 2023 with 33 million active members.“A big driver of the increase in active members, as well as the early success of the program, was our ‘emergency pizza’ promotion, which was an innovati
  
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• JPMorgan’s global investment banking chief departs for Citi a month after top rank-reshuffle

  26-02-2024 17:19 via rocketnews.com
  JPMorgan Chase & Co.’s global investment banking chief Viswas Raghavan is departing for Citigroup about a month after Chief Executive Jamie Dimon set the stage for a potential successor at the U.S.’s largest bank with a round of internal promotions. Raghavan most recently worked as head of global investment banking at JPMorgan JPM, -0.37%,and was previously co-head of global investment and corporate banking since 2020.Citigroup C, -0.18%said Raghavan will be head of banking and e
  
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• ‘I don’t want my wife to lose everything’: I’ve been diagnosed with dementia — I suddenly could not spell or write legibly

  26-02-2024 17:11 via rocketnews.com
  Dear Quentin,I have been diagnosed with brain damage and dementia. Word to the younger folks: I woke up last year and suddenly could not spell or write legibly. No warning. No symptoms. I am getting worse, so I want to protect my wife of 24 years, and our finances. She will get half my pension and she has an even better pension than I do.We have two long-term care policies — one is paid off and the other is 5% inflation-adjusted with lots of positive riders etc. If I end up living a long t
  
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• Expect this ‘Roaring 2020s’ market to keep stocks up and bring inflation down

  26-02-2024 17:08 via rocketnews.com
  “If this is the 1990s all over again, are we in 1994 or are we closer to 1999? ”Since the start of the 2020s, we’ve been comparing the current decade mostly to the 1920s and the 1970s. However, the S&P 500’s SPX42.3% melt-up since Oct. 12, 2022 to a new record high last week has us considering whether another period represe …
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• Why Amazon and Uber investors might wish those stocks weren’t joining Dow indexes

  26-02-2024 16:59 via rocketnews.com
  A previous version of this column indicated Uber Technologies was joining the Dow Jones Industrial Average. Uber has been selected to enter the Dow Jones Transportation Average. The column has been corrected. Amazon.com AMZN, -0.10%and Uber Technologies UBER, -0.43%shareholders would do well to pay attention to a stock-market pattern that doesn’t favor these two stocks. Amazon is replacing Walgreens Boots Alliance WBA, -2.09%in the Dow Jones Industrial Average DJIA,while Uber pulls into Je
  
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• Disney’s AI ‘mediocrity’ is holding its stock back, activist says

  26-02-2024 16:59 via rocketnews.com
  An activist investor blasted Walt Disney Co. on Monday for its “mediocrity” on artificial intelligence and augmented reality and continued a campaign for seats on the media giant’s board of directors.Blackwells Capital said that Disney DIS, +0.50%faces “significant technological issues” that put it behind peers, advocating that the company establish a single chief technology officer to oversee tech efforts across all its sectors. The investor looked at big technolog
  
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• Jack Ma’s Ant Group piles into fight with Citadel for Credit Suisse’s Chinese business: report

  26-02-2024 14:42 via rocketnews.com
  Jack Ma’s Ant Group has reportedly outbid Ken Griffin’s Citadel Securities in the fight to acquire Credit Suisse’s Chinese banking business, in a sign the Alipay owner now intends to revisit prior ambitions following an easing of Beijing’s years’-long crackdown on tech companies.  If approved by regulators, Ant Group would buy Credit Suisse’s Chinese investment banking venture from UBS UBS, -0.04%for an as yet undisclosed sum, with a view to building its
  
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• U.S. Cannabis Council is accepting donations for marijuana-legalization lobbying at Curaleaf stores

  26-02-2024 14:26 via rocketnews.com
  Advocacy group U.S. Cannabis Council will now accept donations for its marijuana-legalization efforts in nearly 140 Curaleaf Holdings Inc. dispensaries.The group, which is accepting small donations made from rounding up sales to the nearest dollar, plans to grow the donation effort nationally with MariMed Inc. and Standard Wellness dispensaries in the coming months. The campaign is raising money to promote cannabis reform in Congress and make it a major election issue. Customers at retail l
  
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• Amazon’s stock could lose Walgreens’ this year if the Dow jinx holds

  26-02-2024 13:58 via rocketnews.com
  The keepers of the Dow Jones Industrial Average have been very good at making sure the changes they make to the venerable stock-market barometer are seamless to investors, but nobody’s perfect. How the 128-year old index DJIAis constructed is a secret closely guarded by S&P Dow Jones Indices. But some things, such as the influence each stock has, are known once changes are made.There’s also the matter of the “Dow jinx,” which has seen new members tend to underperform
  
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• We’re spending more on leisure and travel. These 11 stocks will soak it up.

  26-02-2024 13:47 via rocketnews.com
  Leisure stocks are likely to outperform this year as emboldened consumers kick back and relax. Here’s more on three economic trends supporting this trend and 11 stocks to consider, according to five money managers I check in with on this theme.  Three trends will give consumers more confidence to spend on leisure this year:1. Consumer sentiment is surging. The University of Michigan consumer sentiment index added almost 10 points to 79 in January. Sentiment rose on improved outlooks f
  
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• Bank of Ireland stock sinks as provisions for commercial real estate rise

  26-02-2024 13:43 via rocketnews.com
  Bank of Ireland became the latest to flag worries about commercial real estate as it announced higher provisions linked to the sector, and saw its shares tumble on Monday. Alongside annual results, Bank of Ireland BIRG, -11.21%reported that its underlying net credit impairment charge climbed to €403 million ($436 million) in 2023 from €187 million in 2022.“This charge reflected loan loss experience in the period; and additional management adjustments to address potential risks, p
  
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• Fresh Del Monte’s stock falls as lower banana sales lead to downbeat earnings

  26-02-2024 13:36 via rocketnews.com
  Shares of Fresh Del Monte Produce Inc. fell Monday, after the fresh fruit and vegetable producer missed fourth-quarter earnings expectations, as lower banana sales were offset by strength in pineapples and higher prices for avocados. The company also announced the booking of a $131.2 million impairment charge, following a review of its North America operations, including Mann Packing, and boosted its quarterly dividend by 25%.The stock FDP, -0.21%slumped 1.3% in premarket trading. The company sw
  
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• 9 stock tips hiding in Warren Buffett’s latest letter to Berkshire shareholders

  26-02-2024 13:33 via rocketnews.com
  “Be pragmatic and opportunistic with your investments.”Warren Buffett has done it again, penning an annual letter to Berkshire Hathaway BRK.A, +0.55% BRK.B, +0.50%shareholders with valuable lessons for both investors and business leaders — along with subtle signals about his investment intentions.     He opened with a tribute to his late partner, Charlie Munger, the architect of the Berkshire business model, with Buffett as the general contractor. It’s
  
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• This investor has a huge bet on Berkshire Hathaway and says Apple is overvalued

  26-02-2024 13:27 via rocketnews.com
  If you were to boil down Warren Buffett’s latest shareholder letter, he was acting on his famous quote, to be fearful when others are greedy and greedy when others are fearful. In italics, he said there was “no” possibility of eye-popping performance as he basically swore off any big acquisition, due to size constraints as well competition for deals from private-equity and venture capital. Christopher Bloomstran, the co-owner of $477 million investment firm Semper Augustus Inve
  
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• Here’s what Gen Z wants employers to know about how they work

  26-02-2024 13:21 via rocketnews.com
  “An increased expectation that work should have positive impact and meaning.”The majority of Generation Z have little to no memory of what office culture was like before the COVID-19 pandemic. They’ve not had much opportunity to socialize or acclimatize, given dramatically shifting norms and an increase in remote work. Social activism, political polarization and hyper-transparency have shaped Gen Z attitudes amid a broad reckoning over culture and leadership.While Gen Z does no
  
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• Boeing’s delays could see Ryanair hike prices by 10%, says CEO O’Leary: report

  26-02-2024 11:17 via rocketnews.com
  Mounting problems at plane manufacturer Boeing could see Ryanair forced to cut its schedules and increase prices by another 10%, the budget airline’s CEO Michael O’Leary has reportedly warned. The low-cost carrier’s schedules were drawn up on the basis it would receive 50 of the 57 Max 737-8200s it has ordered, but major issues at manufacturer Boeing BA, -0.33%could now see the company receive just 30 planes by the end of June, O’Leary said in a press conference on Friday
  
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• The radically redesigned 2024 Hyundai Santa Fe: The 3-row SUV is roomy with a minimalist interior

  26-02-2024 11:02 via rocketnews.com
  The Hyundai Santa Fe is all-new for 2024. It boasts a boxy new design, a roomier interior, and a class-leading warranty. Pricing starts at $33,950. The Hyundai Santa Fe will enter an all-new generation for the 2024 model year. It has a decidedly blocky new design and, thanks in part to a longer wheelbase, a roomier interior. The interior has a minimalist design with sustainable materials and modern technology, looking like something straight out of an electric vehicle.The new Santa Fe
  
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• The 15-minute city explained, and why the concept is gaining momentum

  26-02-2024 11:01 via rocketnews.com
  This article is reprinted by permission from NextAvenue.org. I slide my phone out of my pocket and click on the little green man. He says I’ve gone about 5,000 steps this morning. Yes, I’ve walked the dog around the block, but mostly it’s been errands: six blocks to the CVS CVS, +0.13%and back, a little less than that to the grocery store for milk. I dropped off one book and picked up another at the library (10 blocks). I have made multiple trips, and sometimes taken a lon
  
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• Yen: trapped. Forecast as of 26.02.2024

  26-02-2024 11:00 via litefinance.org
  
  While Japanese Ministry of Finance officials continue to make verbal interventions, and the BoJ insists on normalizing monetary policy, USDJPY is still growing. Let us discuss the Forex outlook and make up a trading plan.Weekly Japanese yen fundamental forecastIn 2023, the financial world was closely watching the confrontation between the Fed and the markets. In 2024, the BoJ took the place of the Federal Reserve. Despite the slowdown in Japanese inflation, the BoJ insists on normalizing mo
  
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• Most electric car buyers are taking their tax rebate as a down payment

  26-02-2024 10:58 via rocketnews.com
  Seventy-eight percent of Americans who have claimed the federal government’s electric car tax credits this year used the money as a down payment, according to the Internal Revenue Service. Americans are eligible for a rebate of up to $7,500 on the purchase of many new electric vehicles under the 2022 Inflation Reduction Act. The new EV credit is limited to certain cars. But a similar credit of up to $4,000 on a used EV faces fewer restrictions.
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• Short-term analysis for oil, gold, and EURUSD for 26.02.2024

  26-02-2024 08:51 via litefinance.org
  
  I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders.Last week, gold broke out resistance (A) 2029 - 2025.Oil price forecast for today: USCrude analysisThe oil price is falling as part of a correction to the short-term uptrend. The target of the decline is support (A) 75.42 - 75.09. After testing this zone, it
  
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• GBP USD Forecast for 2024, 2025-2026 and Beyond

  26-02-2024 08:50 via litefinance.org
  
  The GBP/USD forecast reveals an optimistic stance for the British pound, bolstered by positive economic indicators and a relative weakening of the US dollar. With UK PMI data reflecting potential economic growth, the pound demonstrates resilience and an upward potential.However, broader economic policies and global market shifts introduce uncertainty. Dive into the following article for a comprehensive understanding of the GBP/USD landscape, where nuanced analysis meets actionable insight, guidi
  
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• Euro is afraid of pitfalls. Forecast as of 26.02.2024

  26-02-2024 08:00 via litefinance.org
  
  Slowing inflation in the US is a good reason to buy EURUSD. However, everything is far from being as simple as it might seem at first glance. The same applies to European consumer prices. Let us discuss the Forex outlook and make up a trading plan.Weekly Euro fundamental forecastEach time has its highlights. In 2017-2018, investors were focused on trade wars, and in 2020 – by the pandemic. Starting in 2021, inflation took all their attention. Investors are trying, based on inflation i
  
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• Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 26.02.2024

  26-02-2024 07:12 via litefinance.org
  
  I welcome my readers!I have prepared a short-term cryptocurrency forecast based on the Elliott wave analysis of Bitcoin, Ripple, and Ethereum. I offer entry signals to trade each cryptocurrency.Elliott wave Bitcoin analysisThe BTCUSD market is forming wave [C] as an impulse (1)-(2)-(3)-(4)-(5), with the final wave (5) unfolding inside. Three out of five sub-waves have completed within impulse (5). A complex correction 4 should be forming as a triple zigzag, which is expected to finish at a
  
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• More than half of aspiring home buyers say they earn too little to afford a house, survey says

  26-02-2024 06:01 via rocketnews.com
  Home prices are so high that nearly half of would-be home buyers say they earn too little to afford a house, according to a new survey. The survey, by Bankrate, included responses from nearly 2,300 adults, 864 of whom were aspiring homeowners. It found that 54% of respondents who were interested in buying were held back by the fact that they did not make enough.Rising home prices and mortgage rates are limiting how much home buyers can afford. The typical price of a home in the U.S. was $379,100
  
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