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As Biden Offers $8B In Aid To Zelenskyy, US Officials Remain Doubtful About Ukraine's Victory Plan Against Russia: 'Not Much New There'
In a surprising turn of events, the Biden administration has expressed skepticism about Ukraine’s strategy to combat Russia, despite a substantial military aid package. What Happened: President Volodymyr Zelenskyy is scheduled to present his war-winning plan to President Joe Biden on Thursday. However, the Biden administration is reportedly unimpressed, deeming the strategy merely as a rehashed plea for more weapons and the removal of constraints on long-range missiles, the Wall Street Journal reported on Thursday. Despite Zelenskyy’s persistent promotion of the plan as a roadmap to defeat Russia, U.S. and European officials with knowledge of its general outline see no clear path...
Mark Cuban As Treasury Secretary? No, 'Head Of The SEC' Is The Job He'd Take Because Gary Gensler Has Been 'Awful' For Crypto, Businesses
Billionaire entrepreneur Mark Cuban has voiced his interest in becoming the next Chair of the U.S. Securities and Exchange Commission (SEC), expressing dissatisfaction with the current SEC leadership, especially in its handling of cryptocurrencies and business regulations. What Happened: "Head of the SEC. That's the job I would take," Cuban said, in an interview with Fox News, emphasizing his desire to replace the current Chair, Gary Gensler. Cuban’s criticism centers on the regulatory agency’s approach to crypto, which he describes as “awful.” He believes the current SEC policies are stifling business growth, particularly in the crypto sector. “We've seen the number of...
Meta's AI Breakthroughs Dominate Connect Event As Analyst Highlights Affordable Mixed-Reality Push
Meta Platforms Inc. (NASDAQ:META) continues to excite investors and tech enthusiasts with its AI and AR advancements. The company's latest Meta Connect event highlighted innovations in its AI assistant, AR glasses, and more affordable mixed-reality headsets, signaling Meta's ambition to shape the future of computing. AI Assistant & Ad Tools: Early Wins JPMorgan analyst Doug Anmuth notes that Meta's AI developments are already driving tangible benefits, particularly in advertising. "1M+ advertisers are leveraging Gen AI ad tools, & Gen AI ad campaigns are resulting in 11% higher click-through rates & 7.6% higher conversion rates," he says. With over 400 million monthly active users,...
Salesforce Analyst Sees AI As A Tailwind, Stakeholders 'Fed Up' With Dual Mandate
As Salesforce Inc. (NYSE:CRM) navigates a complex demand landscape, optimism is brewing for the second half of 2024. JPMorgan analysts spoke to Salesforce partners, consultants and customers, and included feedback in a Wednesday research report. "The first half was quite tough," remarked a partner from a Salesforce-focused consulting firm. He anticipates an upswing as pressure mounts for increased software spending, especially among retail companies. Stakeholders are "fed up" with the dual mandate of cutting costs while driving sales, leading to a potential loosening of budget constraints amid fears of falling behind in the AI race. Shorter-Term, Lower-Cost Projects Are Here To Stay The trend towards...
Meta To Rally Around 12%? Here Are 10 Top Analyst Forecasts For Thursday
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Bernstein raised the price target for Starbucks Corporation (NASDAQ:SBUX) from $92 to $115. Bernstein analyst Danilo Gargiulo upgraded the stock from Market Perform to Outperform. Starbucks shares rose 1.2% to close at $95.62 on Wednesday. See how other analysts view this stock. JMP Securities increased the price target for Meta Platforms, Inc. (NASDAQ:META) from $550 to $635. JMP Securities analyst Andrew Boone maintained a Market Outperform rating. Meta shares gained 0.9% to...
What's Going On With Southwest Airlines Stock After Guidance Update?
Southwest Airlines Company (NYSE:LUV) shares are trading higher in the premarket session on Thursday. In an exchange filing, the company said it has authorized a new $2.5 billion share repurchase program. In connection with the new share repurchase program, the board terminated and replaced the company’s prior share repurchase program, which the board authorized in May 2019. Southwest highlighted that it is reducing headcount by controlled hiring, and labor cost certainty has been achieved. Also Read: Delta, Southwest And Other Airlines In Hot Waters With US Transportation Department For Unfair Rewards Programs For the third quarter, the company sees operating revenue per available seat mile...
Investors Charge Up XCHG Stock In Scaled-Back IPO
Key Takeaways: Shares of XCHG nearly tripled in their first week of trading after the company raised $20.7 million in its Nasdaq IPO The company’s revenue jumped 52% and its profit nearly quadrupled in this year’s first quarter, but it warned of a slowdown in the second quarter By Edith Terry Sept. 10 was a special day for Tesla veteran Hou Yifei as he rang the opening bell on the Nasdaq to mark the trading debut for his electric vehicle (EV) charging company XCHG Ltd. (NASDAQ: XCH), which also uses the XCharge name. An earlier attempt to list in February got a chillier reception, causing Deutsche...
Top 3 Materials Stocks You'll Regret Missing This Quarter
The most oversold stocks in the materials sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. H.B. Fuller Company...
Disney Trims Workforce By 300, Targets Corporate Departments for Cost Management
Walt Disney Co (NYSE:DIS) has let go of at least 300 employees across multiple corporate departments. “We continually evaluate ways to invest in our businesses and more effectively manage our resources and costs to fuel the state-of-the-art creativity and innovation that consumers value and expect from Disney,” Variety cites a company representative. The layoffs affected human resources, legal, finance and other departments in the U.S. Also Read: Disney Faces ‘More Change Ahead’ As ESPN DTC Launch Will Accelerate Cord Cutting: NBA Rights, College Football Offer Upside, Analyst Says In July, Disney laid off about 140 employees in its television division, representing about 3% of...
Taiwan Semiconductor, American Tower, Trane Technologies And A Health Care Stock On CNBC's 'Final Trades'
On CNBC's “Halftime Report Final Trades,” Stephen Weiss of Short Hills Capital Partners said he still finds Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) cheap. On Monday, Taiwan Semiconductor Manufacturing bagged the government's approval for an additional $7.5 billion infusion into Taiwan Semiconductor Arizona unit, the Taipei Times cited the Department of Investment Review statement. Amy Raskin of Chevy Chase Trust named Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN). Chief District Judge Thomas Kleeh denied Regeneron Pharmaceuticals' effort to prevent the sale of Amgen Inc's (NASDAQ:AMGN) Eylea biosimilar. Regeneron filed a notice of its appeal to the U.S. Court of Appeals for the Federal Circuit. Don't forget...
Jabil's Q4: Earnings Beat, $1B Buyback, FY25 Guidance And More
Jabil Inc (NYSE: JBL) reported fourth-quarter revenue of $6.96 billion, down by 17.7% year-on-year, beating the analyst consensus estimate of $6.59 billion. The print manufacturing company’s adjusted EPS of $2.30 beat the analyst consensus estimate of $2.22. Segments: Diversified Manufacturing Services (DMS) revenue declined by 22% Y/Y, and Electronics Manufacturing Services (EMS) revenue fell by 13% Y/Y. The company held $2.20 billion in cash and equivalents as of August-end. Operating cash flow for the year totaled $1.72 billion, with an adjusted free cash flow of $1.05 billion. CEO Mike Dastoor: “While short-term demand is facing challenges in certain end-markets, we are confident that in the mid-to-long term, we are well-positioned...
Trump's DJT Stock Rallies After Sharp Sell-Off, But Technicals Signal Tough Times Ahead
Trump Media & Technology Group Corp (NASDAQ:DJT), the company behind Truth Social, saw its stock climb 10.5% on Wednesday. The stock clawed back some ground after Monday's sharp sell-off triggered by the expiration of a lockup period that allowed key insiders, including Donald Trump, to offload shares. Investor relief came as Trump, who rejected a second debate with Vice President Kamala Harris, reassured investors earlier in September that he has “no intention of selling” his stake. Trump Maintains His Stake After Lock-Up Expiration Trump Media's stock has been as volatile as the political news cycle surrounding its namesake. The expiration of insider...
Alibaba Follows Amazon And Walmart, Pours $5.7B Into Holiday Sales Push
Alibaba Group Holding (NYSE:BABA) committed a minimum of 40 billion yuan ($5.7 billion) in resources to help merchants on Taobao and Tmall during the Singles' Day shopping festival. Taobao and Tmall Group see 30 billion yuan in consumer vouchers and resources up to 10 billion yuan to boost traffic, SCMP reports. The platforms also introduced new measures to reduce merchant operational costs, including waiving commission fees. Also Read: Nvidia, XPeng Join Alibaba's Apsara Conference to Showcase AI Tech Advancements The Singles' Day shopping festival was originally a 24-hour event named for its date, November 11th, or 11/11. During Alibaba's 618 shopping festival in May and June, gross...
How To Earn $500 A Month From Costco Stock Ahead Of Q4 Earnings
When Costco Wholesale Corporation (NASDAQ:COST) releases earnings for the fourth quarter after the closing bell on Thursday, analysts expect the bulk retailer to report quarterly earnings at $5.08 per share. That’s up from $4.86 per share a year ago. Costco projects to report revenue of $79.97 billion, compared to $78.94 billion a year earlier, according to Benzinga Pro. On Sept. 24, Truist Securities analyst Scot Ciccarelli downgraded the Issaquah, Washington-based company from Buy to Hold and maintained the price target of $873. With the recent buzz around Costco, some investors may be eyeing potential gains from the company's dividends. As of now, Costco...
Amid Nippon-US Steel Debacle, Kamala Harris Stresses Importance Of US Steel Production, Even If It Means Job Losses: 'Critically Important, Not Only In Terms Of Our Economy, But Also In The Context Of National Security'
Democratic presidential candidate Kamala Harris emphasized the importance of maintaining domestic control over steel production, even if it results in job losses. What Happened: Harris stated during an interview with MSNBC, that keeping American manufacturing of steel by American workers is crucial. "It's most important that we maintain America's ability to have American manufacturing of steel by American workers," Harris said. "An American company manufacturing that steel for those new industries is going to be critically important, not only in terms of our economy, but also in the context of national security," Harris continued. This comes in response to a proposed $14.1...
Anthony Pompliano Says Bitcoin Set To Be 'A Big Winner' In Coming Months Due To 'Cheap Money Floating Into The System'
Anthony Pompliano, founder and CEO of Professional Capital Management, believes that Bitcoin (CRYPTO: BTC) is poised for significant gains in the coming months, attributing its potential upward momentum to the recent shift in global monetary policy. What Happened: “Bitcoin ends up being a big winner whenever we get kind of cheap money floating into the system,” he said during an interview with CNBC. Pompliano, who will be a headline speaker at Benzinga’s Future of Digital Assets event on Nov. 19, pointed to the Federal Reserve’s recent 50 basis-point interest rate cut, suggesting it signals the beginning of a new cycle of liquidity...
Blackstone Sells Motel 6 To Oyo In $525M Deal, Adding 1,450 Hotels To Indian Giant's Portfolio
Blackstone, the private equity powerhouse, has agreed to sell Motel 6, the iconic American budget hotel chain, to Oyo, an Indian hotel operator, for $525 million in cash.The deal, reported by The Wall Street Journal, marks Oyo’s expansion in the U.S. market and the end of Blackstone’s decadelong ownership of the budget lodging brand. The transaction includes G6 Hospitality, the parent company of Motel 6 and its extended-stay offshoot, Studio 6. With the acquisition, Oyo will add roughly 1,450 hotels across 49 states and five Canadian provinces, boosting its presence in North America. Don't Miss: A billion-dollar investment strategy with minimums as low...
EXCLUSIVE: La Rosa Restructures Debt, Defers Payments To Plan Expansion And Scale Revenue
On Thursday, La Rosa Holdings Corp (NASDAQ: LRHC) announced that it has entered into an amendment with its noteholder to restructure debt under three outstanding notes issued to the holder in February, April, and July 2024. As part of the amendment, the Company agreed to repay the holder $200,000 of the debt under the notes, and all principal and interest payments under the notes have been deferred until February 1, 2025. Starting February 1, 2025, the Company will pay monthly payments to the holder, which shall be first applied to the July note until it is repaid in the entirety and then...
Chamath Palihapitiya Urges Education Overhaul For Future Innovators On Joe Rogan's Podcast: 'What Are The Odds That There's Only Literally One Steve Jobs Or Literally Only One Elon Musk'
On an episode of the Joe Rogan Podcast, venture capitalist Chamath Palihapitiya expressed his concerns about the current education system and its potential impact on future innovators. What Happened: Palihapitiya, the founder of Social Capital, criticized the San Francisco Board of Education’s decision to eliminate several AP math classes during his conversation with Rogan. He argued that such challenging courses are crucial for nurturing the next generation of innovators like Steve Jobs or Elon Musk. “In eight billion people in the world, what are the odds that there’s only literally one Steve Jobs or literally only one Elon Musk meaning capable of that kind of execution,”...
Concentrix Reports Weak Earnings, Joins CarMax And Other Big Stocks Moving Lower In Thursday's Pre-Market Session
U.S. stock futures were higher this morning, with the Dow futures gaining around 200 points on Thursday. Shares of Concentrix Corporation (NASDAQ:CNXC) fell sharply in today's pre-market trading following mixed third-quarter financial results. Concentrix reported quarterly earnings of $2.87 per share, which missed the analyst consensus estimate of $2.93 per share. Quarterly revenue came in at $2.387 billion, which beat the analyst consensus estimate of $2.382 billion. Concentrix shares dipped 13.8% to $54.79 in pre-market trading. Here are some big stocks recording losses in today's pre-market trading session. One Liberty Properties, Inc. (NYSE:OLP) shares dipped 26.3% to $20.02 in pre-market trading. Pagaya Technologies Ltd. (NASDAQ:PGY) shares...
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