Analyst news

• Shoplifting gave Macy’s an ‘excuse’ to close iconic San Francisco store, union says

  28-02-2024 23:47 via rocketnews.com
  Macy’s Inc.’s decision to close its iconic store in San Francisco’s Union Square has thrust the issue of retail theft into the spotlight once again — although the union representing workers at the store thinks that shoplifting may have simply provided an excuse for its closure.  “I think it gives them the excuse to do what they wanted to do for the last few years,” Jim Araby, director of strategic campaigns at United Food and Commercial Workers Local 5, t
  
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• Marathon Digital swings to a profit, but its stock falls after earnings

  28-02-2024 23:45 via rocketnews.com
  Marathon Digital Holdings Inc.’s stock has been on a big run over the past month, but that was set to cool after the company’s latest results.Shares of Marathon Digital MARA, +2.38%were down more than 11% in Wednesday’s after-hours action, even as the bitcoin-mining company swung to a profit. The stock has risen 74% over the past month and 151% over the past three months as bitcoin prices BTCUSD, +1.93%have surged. Read: Bitcoin nears all-time high, but this rally is much diffe
  
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• Oprah’s departure from Weight Watchers’ board is the latest bad news for the stock, amid weight-loss-drug frenzy

  28-02-2024 23:30 via rocketnews.com
  Shares of WW International Inc., better known as Weight Watchers, tumbled after hours on Wednesday, as the weight-loss platform saidOprah Winfrey planned to leave its board and donate her stake in the company after revealing that she used a weight-loss drug.Weight Watchers WW, +4.52%said in a statement that Winfrey had decided not to stand for re-election at its annual shareholder meeting in May. Winfrey has served on the company’s board since 2015.The TV and lifestyle megapersonality said
  
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• AMC delivers revenue beat helped by Taylor Swift and Beyoncé, yet stock drops

  28-02-2024 23:00 via rocketnews.com
  AMC Entertainment Holdings Inc. reported better-than-expected revenue and a narrower-than-expected loss in its fourth-quarter results Wednesday, boosted by the performance of Taylor Swift and Beyoncé’s concert films. The movie-theater chain and original meme stock reported a net loss of $182 million, or 83 cents a share, compared with a loss of $287.7 million, or $2.64 a share, in the year-prior quarter. Excluding nonrecurring items, AMC reported a loss of 54 cents a share. Ana
  
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• Biden is ‘healthy, active, robust,’ president’s doctor says after his physical

  28-02-2024 22:54 via rocketnews.com
  President Joe Biden was described as “a healthy, active, robust 81-year-old male” in a memo from his physician that was released Wednesday by the White House following his annual physical. Biden “remains fit to successfully execute the duties of the Presidency,” said the memo from Kevin O’Connor, the physician to the president.One new development, according to O’Connor’s memo, was that Biden has started to use a device “almost every night” to
  
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• Duolingo’s stock soars more than 20% after ‘record’ bookings, quarterly profit for company

  28-02-2024 22:48 via rocketnews.com
  Shares of Duolingo Inc.jumped more than 20% in the extended session Wednesday after the learning company said that a “record” fourth quarter capped an “exceptional” year thanks to more bookings, revenue and profitability.Duolingo DUOL, +0.48%said that its daily active users rose 65% year on year to nearly 27 million people, and monthly active users rose 46% year on year to about 88 million. The company also guided for better-than-expected revenue for the current quarter a
  
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• Apple’s buy-now-pay-later service will report customer data to Experian, in a ‘very positive first step’ for consumers

  28-02-2024 22:42 via rocketnews.com
  Users of Apple’s AAPL, -0.66%buy-now-pay-later platform will soon have their payment history reported to one of the major credit bureaus, but it won’t affect their credit scores — at least not yet. The announcement marks the latest move by credit bureaus to gradually incorporate buy-now-pay-later data into their models as this type of debt becomes more popular. Apple Pay Later, launched last March, allows users to pay off a purchase in four payments over six weeks. Startin
  
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• Okta’s profit push is paying off as earnings send the stock soaring

  28-02-2024 22:38 via rocketnews.com
  Okta Inc. issued an upbeat outlook Wednesday afternoon while saying that its emphasis on profitability is paying off. Its stock was rising more than 17% in the extended session. The identity-management company expects $603 million to $605 million in fiscal first-quarter revenue, along with 54 cents to 55 cents in adjusted earnings per share. Both figures topped the FactSet consensus, which called for $584 million and 41 cents, respectively. Okta OKTA, +0.45%also boosted its full-year forecast an
  
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• C3.ai logs slimmer loss than expected, and its stock pops

  28-02-2024 22:37 via rocketnews.com
  C3.ai Inc. shares were popping in late trading Wednesday after the company, which makes enterprise artificial-intelligence software, showed that it lost less money than expected in the most recent quarter. The company reported a fiscal third-quarter net loss of $73 million, or 60 cents a share, whereas it posted a loss of $63.2 million, or 57 cents a share, in the year-before period. On an adjusted basis, C3.ai AI, -1.36%lost 13 cents a share, while analysts were modeling an adjusted loss of 28
  
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• Snowflake’s stock plunges as outlook misses and CEO steps down

  28-02-2024 22:27 via rocketnews.com
  Snowflake Inc.’s stock was tumbling more than 20% in Wednesday’s extended session after the company underwhelmed with its outlook and announced that its chief executive has left that post. For the fiscal first quarter, Snowflake SNOW, -1.72%models $745 million to $750 million in product revenue, whereas analysts tracked by FactSet had been calling for $759 million. Looking at the full fiscal year, Snowflake is calling for $3.25 billion in product revenue, whereas analysts had been mo
  
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• Odysseus has ‘fundamentally changed the economics of landing on the moon,’ says Intuitive Machines

  28-02-2024 20:55 via rocketnews.com
  The success of Intuitive Machines Inc.’s Odysseus moon lander will have a huge impact on the commercial space economy, according to Chief Executive Steve Altemus. “We have fundamentally changed the economics of landing on the moon,” he said, during a press conference from NASA’s Johnson Space Center Wednesday. The mission has also “kicked open the door” to a robust and thriving cislunar economy, he added.Intuitive Machines’ LUNR, -5.00%Odysseus made hist
  
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• Trump, crunched for cash, says he can’t make full bond payment in appeal of New York fraud case

  28-02-2024 20:54 via rocketnews.com
  Even for a billionaire, the financial straits faced by Donald Trump in his New York legal cases are proving to be too much. The former president’s lawyers have asked a New York appellate court to allow him to post an appeals bond of just $100 million in his corporate-fraud case — less than a quarter of the $454 million he is required to put up to challenge the crushing financial penalty.The request came as part of a filing asking the appeals court to put on hold a ruling by a Manhatt
  
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• 10 stocks you can bet on being inflation-proof

  28-02-2024 20:48 via rocketnews.com
  New research shows that “quality” stocks — companies with high operating profitability but which are out of favor on Wall Street — are the type of stocks most likely to do well if inflation heats up. This same research also determined which stocks are the best bets if inflation cools: quality stocks. The research was published earlier this month by Northern Trust Asset Management. Entitled “Navigating Inflation—An Analysis of Equity Factor Performance Over 150
  
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• TJX’s stock heads for record as better-than-expected quarterly sales offset soft guidance

  28-02-2024 20:28 via rocketnews.com
  TJX Cos. Inc.’s stock rose 0.5% on Wednesday to put it on track for a fresh record, as investors weighed better-than-expected sales in the fiscal fourth quarter against guidance for fiscal 2025 that lagged estimates. Also supporting the stock, the Framingham, Mass.-based company TJX, +0.97%said it expects to increase its dividend by 13% and buy back $2 billion to $2.5 billion of stock in fiscal 2025.Chief Executive Ernie Herrman said the numbers were ahead of the company’s own expect
  
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• Why traders are focusing on this obscure, but crucial, part of the financial system

  28-02-2024 20:22 via rocketnews.com
  It may be months before Federal Reserve officials are ready to take any action on interest rates, so traders are focusing on something else that ordinarily gets less attention: The undercarriage, or plumbing, of funding markets, where things could start to go awry in certain scenarios and undermine confidence in the U.S. banking system. Large financial firms like money-market funds and banks use overnight programs such as the Fed’s reverse repurchase facility to park large amounts of cash
  
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• ‘I’m devastated’: Alabama IVF patients turn to GoFundMe for help after state ruling halts fertility services

  28-02-2024 17:29 via rocketnews.com
  When Heather Maurer first saw on the news that Alabama’s Supreme Court had ruled that frozen embryos could be considered “extrauterine children” under state law, she didn’t think much of it.  She and her husband, Chris Maurer, had already scheduled an appointment in March to transfer their final embryo — implanting it in the uterus to begin pregnancy — at a fertility center in Birmingham. The pair, who had started the fertility treatments more than four y
  
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• Viking Therapeutics’ promising weight-loss drug data makes the company a takeover target

  28-02-2024 17:18 via rocketnews.com
  Viking Therapeutics Inc.’s stock rose another 8% Wednesday to extend its week-to-date gains to 145%, as analysts weighed in on its positive weight-loss drug news with some bullish commentary and said the company has become an attractive takeover target. The news from Tuesday that a Phase 2 trial called Venture had produced positive data for its VK2735 weight-loss drug sent the stock VKTX, +10.33%up 121% to a record level and record one-day gain.The stock is viewed as a cheaper entry for in
  
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• Oil prices rise, buoyed by bets that OPEC+ will decide to extend its voluntary output cuts

  28-02-2024 16:56 via rocketnews.com
  Oil futures climbed on Wednesday, buoyed by a report that said major oil producers in OPEC+ may consider extending their voluntary production cuts into the second quarter. Data from the Energy Information Administration, meanwhile, revealed a fifth straight weekly rise in U.S. crude inventories, along with inventory declines for gasoline and distillates.Price moves West Texas Intermediate crude CL00, -0.85%for April delivery CL.1, -0.85% CLJ24, -0.85%rose 23 cents, or 0.3%, to $79.10 a barrel on
  
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• Disney teams with India’s Reliance Industries to form $8.5 billion streaming joint venture

  28-02-2024 16:55 via rocketnews.com
  Walt Disney Co. announced Wednesday an agreement with India’s Reliance Industries Ltd. and Viacom 18 Media Private Ltd. to form a digital-streaming and TV joint venture that will have exclusive rights to distribute Disney movies in India. The joint venture will combine the businesses of Disney’s DIS, +1.22%Star India and Viacom 18, which is partially owned by Paramount Global PARA, -1.69%.Reliance Industries 500325, -2.07%agreed to invest the equivalent of about $1.4 billion into the
  
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• JPMorgan Stock Price Forecast: Will the Shares Keep Rising?

  28-02-2024 16:52 via litefinance.org
  
  JPMorgan Chase & Co., with its impressive $2.6 trillion in assets and global operations, stands as a testament to enduring financial leadership and innovation. With a legacy stretching back to 1799, this financial behemoth has navigated through periods of economic prosperity and downturns alike, solidifying its stock as a reflection of resilience and stability in the financial sector.This article will delve into the JPMorgan stock price forecast, analyzing the myriad factors, from econo
  
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• Warby Parker’s stock tumbles again after earnings, as gross margins keep falling

  28-02-2024 16:47 via rocketnews.com
  Shares of Warby Parker Inc. pulled back sharply Wednesday after the eyewear retailer reported a surprise fourth-quarter loss as gross margins continued to fall. The stock WRBY, -14.03%tumbled 13.7% in morning trading. That puts it on track for the biggest one-day selloff since the record plunge of 24% on Nov. 8, 2023, after third-quarter results were reported.The stock had run up 18% month to date ahead of the results, including a 7.7% jump on Tuesday. The company reported before the opening bel
  
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• Think Donald Trump has promised not to change Social Security? Think again.

  28-02-2024 16:38 via rocketnews.com
  I have spent days trying to get a response out of Donald Trump, or one of his press officers, regarding a key issue about Social Security. In response, campaign spokesperson Steven Cheung sent me an email calling Nikki Haley a “moron” and a “birdbrain,” before directing me to a couple of internet links that didn’t answer the question. My other emails went unanswered.Barring a major upset, Donald Trump is poised to become the Republican presidential nominee. And if t
  
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• Bitcoin trades above $61,000 as rally continues ahead of halving event

  28-02-2024 16:36 via rocketnews.com
  The price of bitcoin surged past $61,000 on Wednesday, touching levels not seen since November 2021 as a bullish run for the top cryptocurrency continued.Bitcoin BTCUSD, +10.60%was last up more than 6% at $61,077, reaching as high as $61,337 at one point during the session. The crypto is roughly 12% from a record of $68,990 reached 27 months ago. Up 35% so far this year, bitcoin has been fueled by continued inflows into bitcoin exchange-traded funds and hopes around the coming “halving eve
  
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• I lost $240,000 after a ‘friend’ I met on Instagram encouraged me to invest in crypto. Can I write off my loss?

  28-02-2024 16:35 via rocketnews.com
  Dear Quentin,Over the past six months, I was crypto scammed. I just retired and lost $243,000 that I don’t think I will ever see again. I have reported the company to the FBI, Federal Trade Commission, and a few others. Some of the money was from a SEP IRA. Is there something I can do at tax time so I don’t have to pay taxes on it?When I first started “investing,” the person helping showed how easy it was to get money back out which we did. This operation got “inter
  
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• Is Ethereum A Good Investment?

  28-02-2024 16:10 via litefinance.org
  
  It has been a kind of fashionable in the crypto industry to invest in Ethereum. The crypto market is strongly volatile and unstable. Even digital assets with multi-billion dollar market capitalization cannot be called reliable. If the coin has generated passive income before, before investing in it again, you need to familiarize yourself with macroeconomic indicators and research the market. You should also study how the blockchain has changed and what plans the Ethereum team has for the near fu
  
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• U.S. trade in goods deficit widens 2.6% in January

  28-02-2024 14:46 via rocketnews.com
  The numbers: The U.S. trade deficit in goods widened 2.6% to $90.2 billion in January, according to the Commerce Department’s advanced estimate released Wednesday. Economists polled by Econoday were looking for the deficit to narrow to a $88.1 billion deficit. Key details:Exports of goods rose $400 million to $170.4 billion in January. Imports rose $2.7 billion to $260.6 billion.The report also showed a 0.1% decline in wholesale inventories in January. And advanced retail inventories
  
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• It turns out, the U.S. is one of the least concentrated stock markets in the world

  28-02-2024 14:35 via rocketnews.com
  For all the talk about the Magnificent Seven and the ultra-reliance of just a handful of companies to drive stock-market returns, it turns out the U.S. is in fact one of the least concentrated markets in the world. That’s according to the latest findings of the global investment returns yearbook, by Paul Marsh and Mike Staunton of London Business School and Elroy Dimson of Cambridge University, now being published at UBS after Credit Suisse’s untimely demise.The U. …
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• U.S. economy’s growth in the fourth quarter downgraded to 3.2%, GDP shows

  28-02-2024 14:31 via rocketnews.com
  The growth of the economy in the fourth quarter was downgraded slightly to a 3.2% annual pace, but the U.S. is still expanding at a rapid clip and shows few signs of slowing down. The increase in gross domestic product in the fourth quarter followed an even stronger 4.9% gain in the third quarter. Nor does the economy appear to have lost a step early in the new year.The latest forecasts suggest the U.S. is expanding at a 3%-plus rate in the first quarter. The economy’s top sustainable spee
  
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• As Beyond Meat’s stock heads for its best day ever, analysts still feel cautious

  28-02-2024 14:29 via rocketnews.com
  Beyond Meat Inc.’s stock could be headed for its best day on record Wednesday, but Wall Street analysts continued to take measured views on the shares.Among the positives from Beyond Meat’s BYND, +0.94%latest report were that the company expects that gross margins could reach as much as a high-teens percentage this year, while revenue for the most recent quarter exceeded the consensus view.But as the stock surged nearly 60% in premarket trading Wednesday — which would be good f
  
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• Everything you need to know about renting your home as a film location

  28-02-2024 14:23 via rocketnews.com
  This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2024. All rights reserved.  I was obscured behind a big lakeside rhododendron, looking up the stone steps toward the actors hard at work on the lawn in front of our little weekend house in the Hudson Valley.   Playing a family in turmoil, the actors shouted and cursed at each other. Christina Applegate then gave Billy Crudup, who was pla
  
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• How much money do you need to buy a $400,000 house with a 7% mortgage rate?

  28-02-2024 12:00 via rocketnews.com
  Home buyers in the U.S. are facing an increasingly challenging real-estate market once again, as the 30-year mortgage rate heads back over 7%. But just how challenging is it to buy a home? MarketWatch worked with Redfin to estimate how much a potential home buyer would need to earn to buy a typical home.If a home buyer is paying for a median-priced $397,000 home with a 30-year mortgage at 7.09% after putting 20% down, they would have to pay roughly $2,711 per month, which includes not just their
  
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• ‘There will never be another car like this.’ Elon Musk says ‘radically’ different Tesla Roadster will ship in 2025.

  28-02-2024 11:56 via rocketnews.com
  ““Tonight, we radically increased the design goals for the new Tesla Roadster. There will never be another car like this, if you could even call it a car.”” — Elon Musk, Tesla CEO on XEntrepreneur and businessman Elon Musk was stirring up excitement on his X platform early Wednesday, promising Tesla’s TSLA, +0.17%Roadster electric sports car will finally ship next year, with “production design complete and unveil” at the end of 2024. The Tesla CEO&
  
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• (NFLX) Netflix stock Forecast for 2024, 2025-2026 and Beyond

  28-02-2024 11:15 via litefinance.org
  
  As a titan in the streaming industry, Netflix, Inc. (NFLX) has revolutionized how we consume media, evolving from a DVD rental service to a global streaming giant. With its vast content library and continued expansion into original programming, Netflix has been a subject of keen interest in the stock market.This article will delve into the Netflix stock forecast for 2024, 2025-2026, and beyond, offering a comprehensive analysis for investors and enthusiasts alike.Main takeaways: (NFLX) Netflix s
  
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• Aussie looks discouraged. Forecast as of 28.02.2024

  28-02-2024 11:11 via litefinance.org
  
  Following the release of minutes from the RBA's February meeting, it appeared that AUDUSD bulls could benefit from divergence in monetary policy. However, they did not rejoice for long. Let us discuss this topic and make up a trading plan.Monthly Australian dollar fundamental forecastWhile the entire financial world is waiting for signals about the start of monetary expansion, RBA officials surprised everyone with the statement that the cash rate could be increased. Their hawkish stance, po
  
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• These are the 2024 SUVs that get the best gas mileage

  28-02-2024 11:02 via rocketnews.com
  Electric SUVs are becoming increasingly popular — and plentiful — but they are also expensive, and not everyone has access to a good home charger or public charging network. Thankfully, conventional internal combustion SUVs, hybrid SUVs, and plug-in hybrid SUVs are available with impressive fuel economy – and the PHEVs even offer limited all-electric driving. Because gas mileage is the name of the game here, you won’t find any EVs on this list. You also won’t find a
  
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• My friend’s controlling husband pressured her to give up her job — and ‘lost’ her passport. What can we do?

  28-02-2024 11:01 via rocketnews.com
  Dear Quentin, I want to help a friend who is going through some challenges with her husband. My friend and her husband are both from India and work in the Pacific Northwest. They have twin daughters who are two years old. My friend’s husband appears to be a friendly and agreeable person, and has an exceedingly large circle of friends.  My friend, however, complains that he has a temper and is extremely controlling. My friends and I have witnessed the controlling behavior where she has
  
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• How to make your car last as long as possible

  28-02-2024 11:01 via rocketnews.com
  Quick facts about a car’s longevity: A well-maintained car can last 200,000 miles or more. About 12.5 years is the average age of a car on the road in the U.S. today. How well a car is maintained and driven is a significant component in determining a car’s life expectancy.Whether you are in the market for a new or used car or currently own a car with 70,000, 80,000, or more miles on the odometer, you’ve probably entertained the quest
  
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• 60 is the new 30: One of America’s richest self-made women talks about the benefits of being a late-blooming entrepreneur

  28-02-2024 11:00 via rocketnews.com
  This article is reprinted by permission from NextAvenue.org. Liz Elting was a 26-year-old graduate student in 1992 when she co-founded a business in her dorm room, a language-translation service that grew into a $1.1 billion company called TransPerfect. She cashed in her stake in 2018 but has no intention of retiring — and doesn’t think you should, either.Elting established a charitable foundation (Elizabeth Elting Foundation) when she left TransPerfect, and she is still lo
  
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• Bitcoin climbs past $59,000 as rally continues ahead of halving event

  28-02-2024 10:53 via rocketnews.com
  The price of bitcoin surged past $59,000 on Wednesday, touching levels not seen since late 2021 as a bullish run for the top cryptocurrency continued.Bitcoin BTCUSD, +4.59%was last up 3.7% at $59,142, just off a session high of $59,482. The crypto is roughly 14.5% from a record of $68,990 reached 27 months ago. Up 40% so far this year, bitcoin has been fueled by continued inflows into bitcoin exchange-traded funds and hopes around the coming “halving event,” which is expected to happ
  
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• Lysol maker Reckitt Benckiser sees profits slump on lower sales, Middle East accounting issue

  28-02-2024 10:50 via rocketnews.com
  Lysol seller Reckitt Benckiser Group on Wednesday posted a sharp drop in its profits for the full-year 2023, as higher prices failed to offset lower sales, in a “grim” set of results that put the company on course for its sharpest share price drop in years.The Durex owner said lower sales of cold and flu medicines and its decision to recall batches of its Nutramigen baby formula saw its operating profits drop 22.1% to £2.53 billion ($3.2 billion) and company CEO Kris Licht call
  
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• Short-term analysis for oil, gold, and EURUSD for 28.02.2024

  28-02-2024 08:22 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.Yesterday, oil reached the resistance level of 78.49.Oil price forecast for today: USCrude analysisYesterday, oil reached the resistance level of 78.49 as part of a short-term uptrend. The price could not consolidate higher. Today, a downward correction may b
  
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• Short-term analysis for BTCUSD, XRPUSD, and ETHUSD for 28.02.2024

  28-02-2024 07:42 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. Four out of five sub-waves have completed within impulse (5). A complex correction 4 must have completed as a triple zigzag [W]-[X]-[Y]. Impulse 5
  
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• Euro set back. Forecast as of 28.02.2024

  28-02-2024 07:31 via litefinance.org
  
  Investors should predict the Fed’s further actions to make profits. The key question is about the time frame and the scale of the future rate cuts. Let us discuss the Forex outlook and make up a EURUSD trading plan.Weekly Euro fundamental forecastSpeed matters. For a long time, markets paid attention to only two issues. When exactly will the Fed start cutting the federal funds rate? And how deep will it fall? Investors now face a new puzzle: how quickly will the central bank ease monetary
  
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• Apple reportedly ends its longtime plans to build a self-driving EV

  28-02-2024 02:54 via rocketnews.com
  Apple Inc. is scrapping an ambitious, decade-long effort to develop an electric car with self-driving capabilities, according to reports Tuesday. Bloomberg News first reported that Apple AAPL, +0.81%executives made the announcement internally Tuesday, and that some employees on the car team would be shifted to other parts of the company, particularly Apple’s AI division. Other workers will likely be laid off.The Wall Street Journal and New York Times later confirmed the report. Apple did n
  
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