hapabapa/iStock Editorial via Getty Images GE Aerospace ( GE ) said Monday it will invest an additional $1 billion in its U.S. manufacturing facilities and supplier network this year as it works to increase jet-engine output and accelerate parts production. The spending builds on a similar $1 billion commitment announced last year and reflects strong demand across both commercial aviation and defe...
hapabapa/iStock Editorial via Getty Images GE Aerospace ( GE ) said Monday it will invest an additional $1 billion in its U.S. manufacturing facilities and supplier network this year as it works to increase jet-engine output and accelerate parts production. The spending builds on a similar $1 billion commitment announced last year and reflects strong demand across both commercial aviation and defense programs. Aircraft engine orders remain heavily backlogged, with delivery timelines stretching several years in some cases. The company said the investment is expected to support roughly 5,000 additional jobs in the United States. "Maintaining U.S. aerospace leadership requires sustained investment in our people, our facilities, and the technologies that will define the future of flight," CEO Larry Culp said. Of the planned spending, more than $275 million will be directed toward upgrading facilities that manufacture military engines and related components. Another $200 million will expand production capacity for the CFM LEAP engine, widely used on single-aisle aircraft built by Boeing and Airbus. GE Aerospace ( GE ) also plans to allocate more than $100 million to help suppliers purchase tooling and equipment intended to stabilize production and reduce bottlenecks across the supply chain. Separately, the company continues to spend roughly $3 billion each year on research and development tied to next-generation aviation technologies. More on GE Aerospace GE Aerospace Vs. Rolls-Royce: Which Jet Engine Maker Is The Better Investment? GE Aerospace: A Steady Trend Not Driven By Hype GE Aerospace: The Big Buy Opportunity Quant check: Defense stocks volatile on rising U.S.-Iran tensions GE Aerospace teams with Palantir on AI-driven jet-engine contract
MUMBAI, March 9 (Reuters) - Walmart's Indian e-commerce firm Flipkart has shifted its holding company to India from Singapore, the company said on Monday, paving the way for its planned stock market listing in the country. The firm joins dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills but are now queuing to return home from finan...
MUMBAI, March 9 (Reuters) - Walmart's Indian e-commerce firm Flipkart has shifted its holding company to India from Singapore, the company said on Monday, paving the way for its planned stock market listing in the country. The firm joins dozens of Indian startups that once chose to be based abroad for better access to capital and smaller tax bills but are now queuing to return home from financial hubs such as Singapore due to better IPO prospects in the country. In a statement, Flipkart said it has received the Indian government's approval for its internal restructuring and it has now completed its "redomiciliation" to India, calling it "a significant milestone". Advertisement Advertisement Advertisement Advertisement Flipkart, which started in 2007 by selling books online, expanded into a behemoth that competes with Amazon.com Inc in India. It moved its holding company to Singapore in 2011. Walmart bought a controlling stake in Flipkart in 2018 for $16 billion. Flipkart was last valued in 2024 at around $37 billion, when Alphabet's Google picked up a $350 million minority stake in it. The company is aiming to list in Mumbai before March 2027, though it has yet to firm up its valuation for the IPO or its size, said a source with direct knowledge. (Reporting by Vibhuti Sharma; Editing by Aditya Kalra and Chizu Nomiyama )
hapabapa/iStock Editorial via Getty Images Zscaler ( ZS ) stock is currently down by more than 50% from its highs of the year, and this cannot be explained by looking at the company's financial performance. On the contrary, Zscaler continues to deliver above expectations across the board. The main driver behind this decline is generalized market negativity around the cybersecurity sector due to th...
hapabapa/iStock Editorial via Getty Images Zscaler ( ZS ) stock is currently down by more than 50% from its highs of the year, and this cannot be explained by looking at the company's financial performance. On the contrary, Zscaler continues to deliver above expectations across the board. The main driver behind this decline is generalized market negativity around the cybersecurity sector due to the potential threat from AI disruption. In the case of Zscaler, however, the company is well-positioned to continue winning in the times of the AI revolution. Rock-Solid Performance Zscaler delivered both sales and earnings above Wall Street expectations, which is something that the company tends to do consistently. The business produced $815.8 million in revenue last quarter, versus $798.3 million expected by Wall Street. This represents a year-over-year growth rate of 25.9% versus 23.2% projected by analysts. Free cash flow margin came in at 36% during the period. Zscaler The "rule of 40" in the software industry says that a high-quality software company should exceed 40 when considering growth and profitability together. Zscaler is materially above that threshold, with revenue growth plus free cash flow margin reaching 62. Net new ARR (Annual Recurring Revenue) reached $156 million in the quarter, growing by 19% versus the same period in the prior year. Total ARR increased 25% year over year to $3.4 billion. Excluding the contribution from the acquisition of Red Canary, net new ARR grew 7%, and total ARR increased by 21% year over year. Given the widespread concern about how AI will impact seat-based business models in cybersecurity, it is worth noting that non-seat-based usage delivered more than one quarter of new ACV (Annual Contract Value), and the ARR tied to non-seat-based usage grew more than 100% versus the same period in the prior year. Zscaler ended the quarter with 728 customers exceeding $1 million in ARR and 3886 customers above $100,000 in ARR, with both met...
(RTTNews) - Early signs from the U.S. Futures Index suggest that Wall Street might open in the red. This week's trading is likely to be driven by reports on consumer prices, durable goods orders and consumer sentiment may also attract attention. For the first time, since 2022, oil surged above $100 a barrel as war tensions in the Middle East is escalating. In the Asian trade hours, crude prices su...
(RTTNews) - Early signs from the U.S. Futures Index suggest that Wall Street might open in the red. This week's trading is likely to be driven by reports on consumer prices, durable goods orders and consumer sentiment may also attract attention. For the first time, since 2022, oil surged above $100 a barrel as war tensions in the Middle East is escalating. In the Asian trade hours, crude prices surged more than 25 percent, amid fears of supply disruptions. The dollar surged while gold trimmed early losses to trade above $5,100 an ounce. As of 8.20 am ET, the Dow futures were losing 472.00 points, the S&P 500 futures were down 56.75 points and the Nasdaq 100 futures were sliding 219.25 points. The U.S. major averages all finished Friday firmly in negative territory. The Nasdaq plunged 361.31 points or 1.6 percent to 22,387.68, the S&P 500 tumbled 90.69 points or 1.3 percent to 6,740.02 and the Dow slumped 453.19 points or 1.0 percent to 47,501.55. On the economic front, the 3-month and 6-month Treasury Bill auction will be held at 11.30 am ET. Preliminary Treasury Buyback announcement will be held at 11.00 am ET. Asian stocks fell on Monday. China's Shanghai Composite index dropped 0.67 percent to 4,096.60. Hong Kong's Hang Seng index fell 1.35 percent to 25,408.46. Japanese markets nosedived. The Nikkei average ended 5.20 percent lower at 52,728.72. The broader Topix index settled 3.80 percent lower at 3,575.84. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) - Stocks are likely to move to the downside in early trading on Monday, adding to the steep losses posted last week. The major index futures are currently pointing to a sharply lower open for the markets, with the S&P 500 futures down by 1.0 percent. The downward momentum on Wall Street comes amid an extended surge by the price of crude oil, which has skyrocketed above $100 a barrel for ...
(RTTNews) - Stocks are likely to move to the downside in early trading on Monday, adding to the steep losses posted last week. The major index futures are currently pointing to a sharply lower open for the markets, with the S&P 500 futures down by 1.0 percent. The downward momentum on Wall Street comes amid an extended surge by the price of crude oil, which has skyrocketed above $100 a barrel for the first time since 2022. Oil prices are extending last week's spike amid ongoing concerns about the escalating conflict in the Middle East. The continued increase comes following reports major oil producers Iraq, Kuwait and the United Arab Emirates are cutting production. With the Strait of Hormuz effectively closed due to Iranian threats against tankers, the countries are purportedly running out of storage space. In a post on Truth Social, President Donald Trump called the spike in oil prices a "a very small price to pay" for national security and claimed prices will "drop rapidly when the destruction of the Iran nuclear threat is over." "Tipping over the $100 a barrel level has major implications from a psychological and economical perspective," said Dan Coatsworth, head of markets at AJ Bell.. He added, "It significantly raises the chances of a sharp jump in inflation and interest rates shifting to a completely different path than the market had priced in only two weeks ago." Stocks moved sharply lower during trading on Friday, adding to the losses posted in the previous session. With the steep losses on the day, the Dow and the Nasdaq dropped to their lowest closing levels in over three months and the S&P 500 hit a two-month closing low. The major averages all finished the day firmly in negative territory. The Nasdaq plunged 361.31 points or 1.6 percent to 22,387.68, the S&P 500 tumbled 90.69 points or 1.3 percent to 6,740.02 and the Dow slumped 453.19 points or 1.0 percent to 47,501.55. For the week, the Dow plummeted by 3.0 percent, the S&P 500 dove by 2.0 percent a...
Key Points After a rocky 2025, Rivian is poised to turn around its delivery decline. A smooth R2 launch will be crucial to working through its backlog of orders fast. Outside of the Model Y, the segment is underserved with few options under $50,000. 10 stocks we like better than Rivian Automotive › This year is setting up to be an important one for Rivian Automotive (NASDAQ: RIVN) investors, espec...
Key Points After a rocky 2025, Rivian is poised to turn around its delivery decline. A smooth R2 launch will be crucial to working through its backlog of orders fast. Outside of the Model Y, the segment is underserved with few options under $50,000. 10 stocks we like better than Rivian Automotive › This year is setting up to be an important one for Rivian Automotive (NASDAQ: RIVN) investors, especially considering the company is trying to reverse its 2025 $3.6 billion net loss and 18% delivery decline. After a long battle with tariff impacts, policy changes, and no new-vehicle launches last year, Rivian investors are ready to shift into a higher gear. The good news is that's exactly what Rivian's CEO R.J. Scaringe expects to see. The time is now "I believe 2026 will be an inflection point for our business," Scaringe said on the fourth-quarterearnings callFeb. 12, according to Automotive News. "R2 is an exceptional vehicle and I believe will be a game changer for our customers, our company and the industry." Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » The R2 will be critical for Rivian to reverse its sales and delivery decline as the automaker's first mass-market vehicle. After last year's delivery decline, the R2, with a price target around $45,000, is expected to drive 2026 deliveries to between 62,000 and 67,000. R2 deliveries should begin during the second quarter before adding a second shift toward the end of the year and adding a third shift in 2027. While new-vehicle launches are often accompanied by various problems to work through, investors expect a quick start, as the automaker noted it has a large backlog of orders to begin working through and will compete with the best-selling electric vehicle (EV) in the U.S., Tesla's Model Y. Outside of the Model Y, however, there is a surprising...
JHVEPhoto Jefferies Financial Group ( JEF ) stock slid 3.5% in Monday premarket trading after Morgan Stanley lowered its recommendation to Equalweight from Overweight due to credit and legal risks. The rating action comes after Western Alliance ( WAL ) sued Jefferies ( JEF ), alleging that Jefferies breached a forbearance agreement regarding loans that were backed by First Brands receivables. Note...
JHVEPhoto Jefferies Financial Group ( JEF ) stock slid 3.5% in Monday premarket trading after Morgan Stanley lowered its recommendation to Equalweight from Overweight due to credit and legal risks. The rating action comes after Western Alliance ( WAL ) sued Jefferies ( JEF ), alleging that Jefferies breached a forbearance agreement regarding loans that were backed by First Brands receivables. Note that First Brands filed for bankruptcy in September 2025. Additionally, Jefferies ( JEF ) also has exposure to collapsed UK firm Market Financial Services. "We see a wide risk-reward skew as we balance ongoing credit concerns against expected investment banking share gains," Morgan Stanley analyst Ryan Kenny wrote in a note to clients. The key legal uncertainty in the JEF/WAL case is whether the forbearance agreement takes precedence over the non-recourse terms of the loan, he said. After the Morgan Stanley note came out, Jefferies ( JEF ) issued a letter to stakeholders arguing that the forbearance agreement didn't guarantee the loan. Meanwhile, as the court case plays out, Kenny expects Jefferies ( JEF ) to trade more against its tangible book value per share than its earnings per share "as credit and legal uncertainties in the market linger." The Equalweight rating on Jefferies ( JEF ) contrasts with the SA Quant rating of Sell and the average Wall Street rating of Buy. More on Jefferies Financial Group Jefferies Financial Continues To Be A Bullish Case, Ahead Of Upcoming Earnings Call Western Alliance sues Jefferies over First Brands loan; takes $126.4M charge Historical earnings data for Jefferies Financial Group
Activist investor OneMove Capital Ltd. is seeking to shake up the board of Canadian software maker Sylogist Ltd. , saying directors mishandled the company’s shift to a cloud-based business model. OneMove, founded by Tyler Proud, former chair of Dye & Durham Ltd. , says it owns about 9.2% of Sylogist’s shares and is urging investors to elect four new directors at an investor meeting next month. One...
Activist investor OneMove Capital Ltd. is seeking to shake up the board of Canadian software maker Sylogist Ltd. , saying directors mishandled the company’s shift to a cloud-based business model. OneMove, founded by Tyler Proud, former chair of Dye & Durham Ltd. , says it owns about 9.2% of Sylogist’s shares and is urging investors to elect four new directors at an investor meeting next month. OneMove said previous efforts to spur change — including the addition of a nominee backed by PenderFund Capital Management in 2023 — failed to reverse the company’s performance. The shares are down more than 55% over the past two years. Representatives for Sylogist and PenderFund didn’t immediately respond to requests for comment. The software company has previously said it would accept one board nominee from OneMove. But Proud is “forcing an expensive and distracting proxy contest that demands majority control — almost 60% of the Sylogist Board — including a seat for Mr. Proud personally,” Sylogist board member Tracy Edkins said in a statement last month. Sylogist is a software-as-a-service company, selling to governments, schools and nonprofit organizations. In materials seem by Bloomberg News, OneMove said that despite operating in resilient public-sector markets, Sylogist has underperformed on key operating metrics compared with similar software providers. OneMove is proposing a slate of directors that includes Dye & Durham Chair Edward Smith , technology executive Rhonda Bassett-Spiers , corporate director Mary Filippelli and Proud. If elected, the nominees plan to launch a strategic review, accelerate the search for a permanent chief executive officer and implement stricter capital-allocation and performance targets, including improving margins, according to the presentation.
Founder Group ( FGL ) announced on Monday that it has been awarded an approximately RM16 million ($4.14M) engineering, procurement, construction, and commissioning contract for a 25.40MW large‑scale solar project in Malaysia . The company said that the project is part of Malaysia’s Corporate Green Power Programme, a government‑backed initiative designed to accelerate corporate decarbonization thro...
Founder Group ( FGL ) announced on Monday that it has been awarded an approximately RM16 million ($4.14M) engineering, procurement, construction, and commissioning contract for a 25.40MW large‑scale solar project in Malaysia . The company said that the project is part of Malaysia’s Corporate Green Power Programme, a government‑backed initiative designed to accelerate corporate decarbonization through virtual power purchase agreements and the deployment of new utility‑scale solar capacity nationwide. Under the contract, Founder Group will undertake supply, civil and structural works, testing, commissioning, and interconnection facility of the solar photovoltaic facility. The project is expected to generate approximately 53,000 MWh of clean energy annually, offsetting around 35,000 tons of carbon dioxide emissions. It is also anticipated to contribute roughly 53,000 renewable energy certificates to the market, supporting corporate consumers in meeting their sustainability commitments. FGL -0.80% premarket to $7.35. Source: Press Release More on Founder Group Limited Seeking Alpha’s Quant Rating on Founder Group Limited Financial information for Founder Group Limited
Logistic Properties ( LPA ) on Monday said it entered into a master forward purchase agreement to acquire a portfolio of Class A industrial properties in Mexico in a transaction valued at about $200 million. The assets are located in Tepeji del Río in the state of Hidalgo and form part of the Central Park 57 industrial and logistics park along Mexico’s Federal Highway 57 corridor. The project is b...
Logistic Properties ( LPA ) on Monday said it entered into a master forward purchase agreement to acquire a portfolio of Class A industrial properties in Mexico in a transaction valued at about $200 million. The assets are located in Tepeji del Río in the state of Hidalgo and form part of the Central Park 57 industrial and logistics park along Mexico’s Federal Highway 57 corridor. The project is being developed by Fortem Capital and is expected to total about 2.1 million square feet of gross leasable area upon completion. Under the agreement, Logistic Properties of the Americas will progressively acquire stabilized assets through sequential closings, subject to construction completion, lease stabilization and regulatory approvals. The first operating building, comprising about 153,400 square feet, is currently pending stabilization, the company said. Source: Press Release More on Logistic Properties of the Americas Seeking Alpha’s Quant Rating on Logistic Properties of the Americas Financial information for Logistic Properties of the Americas
Thanadon Naksanee/iStock via Getty Images Even a month after the “SaaSpocalypse” has upended the stock markets, it’s still stunning to take a step back and assess how much market value has been lost already on unproven fears that AI will be able to rip through existing software businesses and pull away their clients. Small- and mid-cap stocks have been especially hard hit, and BlackLine ( BL ), a ...
Thanadon Naksanee/iStock via Getty Images Even a month after the “SaaSpocalypse” has upended the stock markets, it’s still stunning to take a step back and assess how much market value has been lost already on unproven fears that AI will be able to rip through existing software businesses and pull away their clients. Small- and mid-cap stocks have been especially hard hit, and BlackLine ( BL ), a specialized software suite for the finance department, is no exception. Since the start of the year, BlackLine has suffered a 30% erosion in its share price. While it’s certainly not the most exciting of SaaS names, I also do think the sharp fall isn’t commensurate with the company’s fundamental performance. The key question for investors now: can BlackLine stage a comeback, or is it dead money for the time being? Data by YCharts I last wrote a sell article on BlackLine in December, when the stock was trading just shy of $60 per share. Of course, with the stock now trading more than a third lower than where it was previously, new valuation multiples warrant me to take a fresh look at this company. I think the SaaSpocalypse narrative is overblown in general, especially with complex products like BlackLine—and I’m raising my rating on the company to neutral. At current share prices, I see more of a balanced bull and bear case for the company. On the bright side for BlackLine: BlackLine is a complex, AI-resistant product that is embracing platformization. Its software is made for specialized finance departments, assisting in heavily manual processes such as period-end close. It’s difficult to imagine companies wanting to use vibe coding and AI agents to override critical processes that are very costly if done incorrectly. The company’s addition of multi-functional modules to encompass more finance use cases is driving an improvement in net expansion rates. BlackLine just achieved FedRAMP certification. The company is now eligible to become a federal government supplier, giving...
Indian e-commerce giant Flipkart has moved its headquarters back to India from Singapore as it prepares for a potential IPO in the coming months. The relocation comes more than a decade after Flipkart moved its headquarters overseas. The company is targeting a stock market debut in India in the financial year ending March 2027, people familiar with the company told TechCrunch. Walmart-owned Flipka...
Indian e-commerce giant Flipkart has moved its headquarters back to India from Singapore as it prepares for a potential IPO in the coming months. The relocation comes more than a decade after Flipkart moved its headquarters overseas. The company is targeting a stock market debut in India in the financial year ending March 2027, people familiar with the company told TechCrunch. Walmart-owned Flipkart’s IPO plans come as the country’s e-commerce market expands rapidly, thanks to a growing internet user base that’s already crossed a billion subscribers. The relocation mirrors a broader trend of Indian startups, including Zepto and Groww, relocating their overseas holding structures back home in recent years as they seek to go public. Groww went public last year, while Zepto filed confidentially for an IPO in December. Flipkart’s gross merchandise value reached about $30 billion in 2025, sources told TechCrunch, up from roughly $23 billion in 2021. The platform has more than 500 million customers and 1.6 million sellers across the country, while its logistics arm Ekart delivers to more than 22,000 pin codes nationwide. Founded in 2007 in Bengaluru, Flipkart was one of several Indian startups to set up overseas holding structures as they sought to attract foreign investment, benefit from tax advantages, and better navigate India’s regulatory environment at the time. In 2018, Walmart acquired a majority stake in Flipkart for $16 billion. India has been encouraging more technology companies to list domestically and as companies seek greater regulatory clarity and simpler tax structures by moving their headquarters back home. Flipkart first announced plans to move its headquarters back to India in April 2025. By September, the restructuring had received in-principle approval from a Singapore court, while hearings related to the shift were also held before India’s National Company Law Appellate Tribunal, people familiar with the matter told TechCrunch at the time. Techcrunch...
Kate Moore, CIO at Citi Wealth, says the resilience in equity markets amid the war with Iran is coming from the US large cap space. (Source: Bloomberg)
Kate Moore, CIO at Citi Wealth, says the resilience in equity markets amid the war with Iran is coming from the US large cap space. (Source: Bloomberg)
Sienna Gestion reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,257 shares of the semiconductor manufacturer's stock after selling 5,698 shares during the quarter. Sienna Gestion's holdings in Advanced M...
Sienna Gestion reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 10.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,257 shares of the semiconductor manufacturer's stock after selling 5,698 shares during the quarter. Sienna Gestion's holdings in Advanced Micro Devices were worth $7,266,000 as of its most recent filing with the Securities & Exchange Commission. Get Advanced Micro Devices alerts: Sign Up Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fieldview Capital Management LLC bought a new position in Advanced Micro Devices during the 3rd quarter valued at approximately $2,211,000. Russell Investments Group Ltd. boosted its holdings in Advanced Micro Devices by 28.7% in the third quarter. Russell Investments Group Ltd. now owns 946,122 shares of the semiconductor manufacturer's stock worth $153,004,000 after acquiring an additional 211,183 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in Advanced Micro Devices by 23.9% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 7,343 shares of the semiconductor manufacturer's stock worth $1,188,000 after acquiring an additional 1,415 shares in the last quarter. SNS Financial Group LLC grew its stake in shares of Advanced Micro Devices by 4.4% in the third quarter. SNS Financial Group LLC now owns 2,115 shares of the semiconductor manufacturer's stock worth $342,000 after acquiring an additional 90 shares during the last quarter. Finally, Fort Sheridan Advisors LLC grew its stake in shares of Advanced Micro Devices by 26.9% in the third quarter. Fort Sheridan Advisors LLC now owns 6,618 shares of the semiconductor manufacturer's stock worth $1,071,000 after acquiring an additional 1,404 shares during the last quarter. Hedge funds and...
This article first appeared on GuruFocus. Morgan Stanley analyst Joseph Moore raised price targets on Marvell Technology (NASDAQ:MRVL) and Broadcom (AVGO) following their quarterly results, highlighting Broadcom as the more favorable pick due to its lead in custom application-specific integrated circuits (ASICs), which are more efficient and cost-effective than GPUs for certain AI tasks. Moore kep...
This article first appeared on GuruFocus. Morgan Stanley analyst Joseph Moore raised price targets on Marvell Technology (NASDAQ:MRVL) and Broadcom (AVGO) following their quarterly results, highlighting Broadcom as the more favorable pick due to its lead in custom application-specific integrated circuits (ASICs), which are more efficient and cost-effective than GPUs for certain AI tasks. Moore kept a Buy rating on Broadcom, lifting its price target to $470 from $462, implying about 42% upside. He maintained a Hold rating on Marvell, increasing the price target to $103 from $95, suggesting nearly 15% potential gains. Broadcom posted adjusted earnings of $2.05 per share in Q1 FY26, beating the consensus of $2.03. Revenue rose 29% year-over-year to $19.31 billion, above the $19.18 billion expected. Moore cited strong demand from hyperscalers for its 7nm and 5nm AI chips and Tomahawk switches, while noting reduced margin pressures, networking beats, and clearer FY27 AI growth visibility as key drivers. Marvell reported Q4 FY26 adjusted EPS of $0.80 on $2.22 billion in revenue, slightly above estimates. Moore emphasized Marvell's growing confidence in AI data center networking, interconnect ASICs, and strong management guidance, though he still favors Broadcom's scale and efficiency advantages in custom chips.
(RTTNews) - Weak European stocks, lower crude oil and bullion prices, and concerns that the Federal Reserve might reducer interest rate only once this year, may weigh on Canadian shares early on Thursday. European Central Bank Governing Council member Joachim Nagel's warning that consumer price growth in the euro zone is proving stubborn and that he and his colleagues won't simply lower borrowing ...
(RTTNews) - Weak European stocks, lower crude oil and bullion prices, and concerns that the Federal Reserve might reducer interest rate only once this year, may weigh on Canadian shares early on Thursday. European Central Bank Governing Council member Joachim Nagel's warning that consumer price growth in the euro zone is proving stubborn and that he and his colleagues won't simply lower borrowing costs automatically, is also likely to weight on sentiment. The Canadian market closed on a positive note on Wednesday as soft U.S. inflation data helped ease concerns about the outlook for interest rates. The benchmark S&P/TSX Composite Index ended with a gain of 74.21 points or 0.34% at 21,961.55. The index climbed to a high of 22,127.72 in early trades. Asian stocks ended broadly higher on Thursday on expecctations the soft U.S. inflation data will prompt the Fed to cut its interest rate in September. However, Chinese and Japanese markets ended lower after Europe threatened to impose provisional duties on imports of Chinese electric vehicles in July. European stocks are notably lower amid concerns the Fed will likely cut interest rate only once this year, in contrast to earlier expectations of a two or three rate cuts in the year. In commodities, West Texas Intermediate Crude oil futures are down $0.76 or 0.97% at $77.74 a barrel. Gold futures are down $32.40 or 1.38% at $2,322.40 an ounce, while Silver futures are lower by $1.092 or 3.61% at $29.175 an ounce. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Best Buy (BBY) reported a surprise sales slump in its key holiday shopping season. Same-store sales declined 0.8% in the fourth quarter, the company said Tuesday. Wall Street had hoped for a 0.2% increase after two straight quarters of positive growth. "We continue to see customers who are resilient, but they are definitely deal-focused," Best Buy CEO Corie Barry told Yahoo Finance in a call with ...
Best Buy (BBY) reported a surprise sales slump in its key holiday shopping season. Same-store sales declined 0.8% in the fourth quarter, the company said Tuesday. Wall Street had hoped for a 0.2% increase after two straight quarters of positive growth. "We continue to see customers who are resilient, but they are definitely deal-focused," Best Buy CEO Corie Barry told Yahoo Finance in a call with reporters. Best Buy expects first quarter same-store sales to return to growth, rising 1%. Barry said more than 50% of its customers make more than $100,000 per year. Revenue for the fourth quarter totaled $13.81 billion, less than the $13.88 billion Wall Street had expected, per Bloomberg consensus data. Adjusted earnings per share came in higher at $2.61, more than the $2.46 the Street predicted. Best Buy stock is down more than 30% in the past year, but popped up more than 8% in early trading. For the full year, revenue came in at $41.69 billion, just below the $41.76 billion Wall Street predicted. Adjusted earnings per share came in at $6.43, $0.12 above Wall Street's estimates for $6.31. For the year, same-store sales grew 0.5%, less than the 0.9% increase Wall Street was looking for. For 2027, the company expects revenue to come in the range of $41.2 billion to $42.1 billion, alongside same-store sales that are expected to fall in a range between a 1% decline and 1% rise for the year. Adjusted earnings per share are expected to be in a range of $6.30-$6.60. This year, Best Buy is also watching the rise in memory costs as heightened demand impacts supply. Barry said it's "something our industry has faced in different peaks and valleys relatively often through the past 25 years." She added that the team is pulling in inventory, trying to provide its manufacturers with longer forecast horizons, working to find the right price points for consumers, and educating them on what's available. The team expects strength in computing and mobile phones to continue into 2026, after...