Winthrop Capital Management LLC lifted its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 88.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,536 shares of the semiconductor company's stock after buying an additional 2,127 shares during the period. Winthrop Capital Management LLC's holdings in Taiwa...
Winthrop Capital Management LLC lifted its position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) by 88.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 4,536 shares of the semiconductor company's stock after buying an additional 2,127 shares during the period. Winthrop Capital Management LLC's holdings in Taiwan Semiconductor Manufacturing were worth $1,267,000 as of its most recent SEC filing. Get TSM alerts: Sign Up Other hedge funds have also recently added to or reduced their stakes in the company. Heartwood Wealth Advisors LLC acquired a new stake in shares of Taiwan Semiconductor Manufacturing during the 3rd quarter worth $32,000. Resources Management Corp CT ADV purchased a new position in Taiwan Semiconductor Manufacturing in the second quarter valued at about $32,000. Cedar Wealth Management LLC lifted its stake in shares of Taiwan Semiconductor Manufacturing by 91.4% during the third quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company's stock worth $37,000 after purchasing an additional 64 shares in the last quarter. Fairman Group LLC grew its stake in shares of Taiwan Semiconductor Manufacturing by 171.2% in the third quarter. Fairman Group LLC now owns 141 shares of the semiconductor company's stock valued at $39,000 after buying an additional 89 shares in the last quarter. Finally, Riggs Asset Managment Co. Inc. purchased a new position in Taiwan Semiconductor Manufacturing in the 2nd quarter worth approximately $41,000. 16.51% of the stock is owned by institutional investors and hedge funds. Key Headlines Impacting Taiwan Semiconductor Manufacturing Here are the key news stories impacting Taiwan Semiconductor Manufacturing this week: Wall Street Analyst Weigh In Several research analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Taiwan Semiconductor Manufacturing from $325.00 to $370.00 and gav...
Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Jeff Gritchen/MediaNe...
Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images Tesla flirted with bankruptcy several times on its rise to become the world's most valuable automaker. Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images lighning bolt icon An icon in the shape of a lightning bolt. lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Another top executive has departed Tesla as Elon Musk's EV maker continues to lose high-profile employees. Finance VP Sendil Palani said on Monday that he had left after more than a decade at the automaker, and used his farewell message to reference one of Tesla's darkest days. "Tesla barely survived Christmas 2008. I started a few days later in our Finance team, under an ongoing 'Tesla Deathwatch,'" Palani wrote in a post on X. "I slept under my desk in San Carlos, CA at least once, and I wasn't the only one," he added. Tesla has flirted with bankruptcy several times in its history, but a funding crunch in late 2008 left the young company perilously close to extinction. Tesla eventually secured $40 million in financing in November 2008, but Elon Musk — who took over as Tesla CEO in October 2008 — later said that the company was only three days from bankruptcy when the funding round was completed on Christmas Eve. "I put in all money I had, didn't own a house & had to borrow money from friends to pay rent. Difficult time," Musk wrote on X in 2020. Since then, Tesla has risen to become an EV powerhouse and one of the world's most valuable companies. The company has had several other brushes with bankruptcy, with Musk and other executives resorting to sleeping on the factory floor as Tesla struggled to scale its mass-market Model 3 EV between 2017 and 2019. Palani is the latest high-profile execu...
iPhone Production In India Surges According to Bloomberg, Apple increased iPhone production in India by about 53% last year and assembled around 55 million devices in 2025. That’s up from 36 million in 2024, The company now produces roughly one-quarter of its iPhones in India. The goal is to reduce reliance on China and avoid U.S. tariffs tied to trade disputes between the two countries. Globally,...
iPhone Production In India Surges According to Bloomberg, Apple increased iPhone production in India by about 53% last year and assembled around 55 million devices in 2025. That’s up from 36 million in 2024, The company now produces roughly one-quarter of its iPhones in India. The goal is to reduce reliance on China and avoid U.S. tariffs tied to trade disputes between the two countries. Globally, Apple manufactures about 220-230 million iPhones each year; India's share is rising quickly. China still produces most iPhones. However, tariffs on shipments from China in 2025 pushed Apple and its suppliers to seek other locations. India became a key alternative. Apple currently assembles all models of its latest iPhone 17 lineup in India, including the Pro and Pro Max versions. At the same time, suppliers such as Foxconn Technology Group, Tata Electronics, and Pegatron Corp also manufacture earlier models, such as the iPhone 15 and iPhone 16, for domestic sales and exports. The company is also expanding local supplier partnerships in India to produce components such as lithium-ion cells, device enclosures, and accessories, including AirPods. Expanding Semiconductor And Supply Chain Plans Apple is expanding its India strategy to strengthen its supply chain amid trade and tariff pressures. The company has started preliminary talks with Indian chipmakers to assemble and package iPhone components. This could bring local vendors deeper into Apple's supply chain. CG Semi, owned by the Murugappa Group, participated in early discussions. The company is building an outsourced semiconductor assembly and test (OSAT) facility in Sanand, Gujarat. Wedbush analyst Dan Ives said a potential U.S.–India trade deal could significantly strengthen Apple's supply chain. He noted that India is emerging as a serious challenger to China in tech manufacturing due to its engineering talent, growing supply chain infrastructure, and large technology workforce. Ives said Apple has already moved more ...
Atlas Energy Solutions ( AESI ) on Tuesday said it signed a global framework agreement with Caterpillar ( CAT ) to secure about 1.4 gigawatts of incremental power generation assets, with orders scheduled between 2027 and 2029. The company expects to own and operate around 2.0 gigawatts of power generation assets by 2030 after deploying the equipment. Under the agreement, Atlas will provide rolling...
Atlas Energy Solutions ( AESI ) on Tuesday said it signed a global framework agreement with Caterpillar ( CAT ) to secure about 1.4 gigawatts of incremental power generation assets, with orders scheduled between 2027 and 2029. The company expects to own and operate around 2.0 gigawatts of power generation assets by 2030 after deploying the equipment. Under the agreement, Atlas will provide rolling demand forecasts and commit to aggregate purchase obligations of about $840 million over the term, while Caterpillar will reserve corresponding manufacturing capacity. The equipment portfolio includes natural gas reciprocating generator sets such as CG260-16 stationary units designed for behind-the-meter deployments and G3520 series units suitable for behind-the-meter and bridge power applications. Atlas said the assets will support the development of its private grid systems. CAT -0.08% premarket to $704.2. Source: Press Release More on Caterpillar, Atlas Energy Solution Caterpillar Inc. (CAT) Discusses New Strategy and Leadership Transition in Construction Industries Transcript Caterpillar: A High-Quality Cyclical Company With An Extreme Valuation Caterpillar: Everyone Is Betting On AI Bottlenecks, There Is One Being Overlooked Atlas targets over 500 megawatts in behind-the-meter power deployments by 2027 amid strategic shift Burry sparks AI spending debate, defends record as critics question timing
Hologic HOLX held more than 18% share in the global women’s health devices market in 2025, according to the latest Global Market Insights report. The market is projected to expand at a CAGR of 10.2% through 2026-2035, supported by factors, including the rising prevalence of gynecological disorders and chronic conditions among women, greater awareness and adoption of preventive healthcare, and grow...
Hologic HOLX held more than 18% share in the global women’s health devices market in 2025, according to the latest Global Market Insights report. The market is projected to expand at a CAGR of 10.2% through 2026-2035, supported by factors, including the rising prevalence of gynecological disorders and chronic conditions among women, greater awareness and adoption of preventive healthcare, and growing demand for minimally invasive diagnostic and therapeutic solutions. Hologic’s GYN Surgical unit, one of its three core segments, has delivered steady performance over the past several quarters. The business has expanded through internal product development and newer additions through acquisitions, leveraging the company’s strong sales network. Surgical revenues reached $180.8 million in the first quarter of fiscal 2026, up 7.5% year over year in constant currency, driven by higher sales of MyoSure and Fluent devices, as well as the acquired Gynesonics business. Outside the United States, Hologic’s investments in commercial and market access capabilities have significantly expanded the reach of its minimally invasive surgical products. MyoSure continues to gain more market share internationally than in the United States, highlighting the large untapped markets where demand for minimally invasive treatments for uterine polyps and fibroids remains strong. The 2021 addition of the Acessa laparoscopic fibroid removal system complemented MyoSure by addressing larger, more complicated fibroids that the latter cannot reach. NovaSure has delivered consistent double-digit international growth in recent quarters. Hologic also added the Sonata system through the Gynesonics acquisition in fiscal 2025, which allows surgeons to treat symptomatic uterine fibroids, including those that cause heavy menstrual bleeding. How Rivals MDT & J&J Stack Up Against Hologic In GYN Surgical, Hologic faces competition from healthcare giants like Medtronic MDT and Johnson & Johnson JNJ, both of which ...
Investing.com -- Bank of America has reinstated coverage of Qualcomm with an Underperform rating, saying the semiconductor company faces limited upside due to muted growth prospects and growing competitive pressures across its core markets. The bank set a $145 price objective, implying roughly 5% upside from Monday’s closing price. “We reinstate coverage of Qualcomm with an Underperform rating and...
Investing.com -- Bank of America has reinstated coverage of Qualcomm with an Underperform rating, saying the semiconductor company faces limited upside due to muted growth prospects and growing competitive pressures across its core markets. The bank set a $145 price objective, implying roughly 5% upside from Monday’s closing price. “We reinstate coverage of Qualcomm with an Underperform rating and a $145 PO due to lukewarm +2%/+1% sales/EPS CY25-28E CAGR vs. semis at +17%,” analyst Vivek Arya said. “QCOM is a leader in smartphone processors but it’s a mature industry with downside risks from rising memory prices and QCOM’s well-known imminent ~$7-8bn loss of Apple business,” he added. Arya said that the chipmaker “has diversified into auto/IoT and plans to enter AI data center, but benefits could be insufficient to offset mobile headwinds.” The analyst noted that Qualcomm’s modems are expected to be completely phased out of iPhones by fall 2027 as Apple shifts to internally designed chips. At the same time, other major customers are increasingly investing in their own semiconductor capabilities. Samsung is expected to reduce Qualcomm’s share in Galaxy devices from 100% to roughly 75%, while Xiaomi has committed around $7 billion toward developing internal silicon. Arya also flagged the company’s reliance on a small group of major customers as a key risk. Apple, Samsung and Xiaomi together accounted for roughly 54% of Qualcomm’s revenue in fiscal 2025. Although Qualcomm has been expanding into automotive and Internet-of-Things (IoT) chips, Arya believes those areas may not fully offset headwinds in the mobile segment. Still, these businesses remain one of the company’s main diversification drivers, with auto and IoT chipset revenue projected to grow at roughly a 19% compound annual rate to about $17.7 billion by fiscal 2028. The analyst also pointed to Qualcomm’s ambitions in AI infrastructure as a potential upside catalyst, though it sees the opportunity as limited ...
alacatr/iStock via Getty Images Coherent’s ( COHR ) bull run lately is supported by their increasing contribution to AI data center optics, where high-speed interconnects such as 800G and 1.6T are in increasing demand. The stock’s story is very interesting because optical components are now starting to become a limiting factor in this industry. Additionally, they have a capacity advantage because ...
alacatr/iStock via Getty Images Coherent’s ( COHR ) bull run lately is supported by their increasing contribution to AI data center optics, where high-speed interconnects such as 800G and 1.6T are in increasing demand. The stock’s story is very interesting because optical components are now starting to become a limiting factor in this industry. Additionally, they have a capacity advantage because of the ramp of the 6-inch indium phosphide. However, the stock now depends on clean execution rather than just strong AI demand. The Optics Shortage That Makes Coherent Strategic I would say the thesis for Coherent is less AI demand is strong and more optics bottlenecks are becoming investable. It is easy to ride the demand wave for AI for a while. It is less common to be a company where the capacity itself becomes a strategic advantage. The 6-inch indium phosphide capacity ramp is the easiest to see. The company has said a six-inch wafer will be able to produce over four times the number of chips at less than half the cost of a three-inch wafer. By the end of 2026, half of the company’s internal indium phosphide capacity will be on a 6-inch wafer . This is not capacity expansion but a manufacturing cost event. I suspect Coherent is not just selling into a visible 800G and 1.6T cycle but also positioning into the next optical content jump with OCS and CPO. They announced that Q2 data center bookings were over 4x book-to-bill, primarily driven by their 800G and 1.6T transceivers, with OCS backlog increasing and CPO design work progressing. These are not equal contributors, obviously, but they are important to me as an analyst, as they suggest to me that we are selling into both the current pluggables cycle and also positioning into the next architecture. I want to make one thing clear that I don’t want to over-romanticize this. I think that whenever we talk about CPO and we talk about scale-up optics, I understand that a lot of people’s minds automatically go to TAM. I still...
krblokhin/iStock Editorial via Getty Images Pratt & Whitney, an RTX ( RTX ) business, was awarded a follow-on contract from Leidos Dynetics ( LDOS ) to supply TJ150 engines for its AGM-190A small cruise missile. The TJ150 is a compact turbojet engine that can operate at high altitudes and is designed to power various autonomous systems and weapons for domestic and international customers. More on ...
krblokhin/iStock Editorial via Getty Images Pratt & Whitney, an RTX ( RTX ) business, was awarded a follow-on contract from Leidos Dynetics ( LDOS ) to supply TJ150 engines for its AGM-190A small cruise missile. The TJ150 is a compact turbojet engine that can operate at high altitudes and is designed to power various autonomous systems and weapons for domestic and international customers. More on RTX Corporation, Leidos Leidos Holdings: A Long-Term Bet On The Growing Defense And Security Ecosystem Raytheon Corporation: Backbone Of U.S. Defense Leidos Holdings, Inc. (LDOS) Presents at Citi's Global Industrial Tech & Mobility Conference 2026 Transcript SA Asks: What are the best defense stocks right now for investors? U.S. strikes highlight staying power of jets, warships amid drone hype
The Philippines was hit by a sharp fuel-price shock on Tuesday, with pump costs surging after the escalating conflict involving Iran pushed global oil prices higher, in what could become one of the country’s steepest weekly increases in years. Consumer groups say the surge is exposing a deeper problem: a deregulated oil industry introduced in the late 1990s that allows companies to set pump prices...
The Philippines was hit by a sharp fuel-price shock on Tuesday, with pump costs surging after the escalating conflict involving Iran pushed global oil prices higher, in what could become one of the country’s steepest weekly increases in years. Consumer groups say the surge is exposing a deeper problem: a deregulated oil industry introduced in the late 1990s that allows companies to set pump prices in line with global markets, leaving the government with fewer tools to intervene than many of its regional peers. Critics say this has left households and commuters to shoulder the rising costs, even as officials promote conservation measures that advocacy groups describe as temporary fixes. Advertisement Oil retailers on Tuesday began implementing price increases, which are expected to be rolled out in stages throughout the week. The Department of Energy (DOE) said the total increases could reach between 17 and 24 pesos (30 to 40 US cents) per litre, as it monitored gas stations nationwide following complaints of alleged hoarding and profiteering in the days before the scheduled adjustments. Motorcyclists queue to refuel at a petrol station in Quezon City, the Philippines, on Monday. Photo: Xinhua Officials had last week reminded retailers that price changes could only take effect on Tuesday.
imaginima/E+ via Getty Images Saudi Aramco ( ARMCO ) said Tuesday it has restarted its giant Ras Tanura refining complex after an Iranian drone attack last week led to a precautionary shutdown, while CEO Amin Nasser warned of "catastrophic consequences" for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. A small fire from the attack was quickly extin...
imaginima/E+ via Getty Images Saudi Aramco ( ARMCO ) said Tuesday it has restarted its giant Ras Tanura refining complex after an Iranian drone attack last week led to a precautionary shutdown, while CEO Amin Nasser warned of "catastrophic consequences" for the world's oil markets if the Iran war continues to disrupt shipping in the Strait of Hormuz. A small fire from the attack was quickly extinguished and brought under control, and the refinery is in the process of being restarted, Nasser said. Aramco ( ARMCO ) said it has a long track record of dealing with complex challenges, as it reported Q4 results that showed a decline in net profit to $17.77B from $22.34B in the year-earlier quarter, as its average Q4 crude oil price fell to $64.10/bbl from $73.10/bbl a year ago. "There would be catastrophic consequences for the world's oil markets and the longer the disruption goes on... the more drastic the consequences for the global economy," Nasser said on the company's earnings conference call, noting the crisis has not only upended the shipping and insurance sectors but also promises to have drastic domino effects on aviation, agriculture, automotive and other industries. While Aramco ( ARMCO ) is currently not exporting oil from the Persian Gulf as ships cannot load cargoes, Nasser said the company - which does not disclose its exact crude production - is meeting the majority of its customers' needs. Aramco ( ARMCO ) is using the Ea st-West pipeline to transport Arab Light and Arab Extra Light crude grades to the Yanbu port on the Red Sea port and is expected to reach its full capacity of 7M bbl/day in the next few of days as customers re-route, the CEO said. Front-month U.S. Nymex crude ( CL1:COM ) for April delivery currently trades -4.9% at $90.08/bbl, and front-month Brent crude ( CO1:COM ) for May trades -5.9% at $93.11/bbl after soaring to a more than three-year high of nearly $120/bbl on Monday. ETFs: ( USO ), ( BNO ), ( UCO ), ( SCO ), ( USL ), ( DB...
ADC Therapeutics SA (ADCT) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.87. This compares to loss of $0.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 55.17%. A quarter ago, it was expected that this company would post a loss of $0.97 per share when it act...
ADC Therapeutics SA (ADCT) came out with a quarterly loss of $0.39 per share versus the Zacks Consensus Estimate of a loss of $0.87. This compares to loss of $0.82 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 55.17%. A quarter ago, it was expected that this company would post a loss of $0.97 per share when it actually produced a loss of $0.59, delivering a surprise of 39.18%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. ADC Therapeutics SA , which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $17.01 million for the quarter ended December 2021, surpassing the Zacks Consensus Estimate by 3.70%. This compares to zero revenues a year ago. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. ADC Therapeutics SA shares have lost about 19.7% since the beginning of the year versus the S&P 500's decline of -8%. What's Next for ADC Therapeutics SA? While ADC Therapeutics SA has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for...
Key Points XRP and Solana are competing in the domain of tokenized assets. Today, Solana is winning that competition by a wide margin. But, XRP has a couple of key advantages that will be tough to displace. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) has a larger market cap than Solana (CRYPTO: SOL), at $83 billion versus Solana's $48 billion. During the coming years, both assets are goi...
Key Points XRP and Solana are competing in the domain of tokenized assets. Today, Solana is winning that competition by a wide margin. But, XRP has a couple of key advantages that will be tough to displace. 10 stocks we like better than XRP › XRP (CRYPTO: XRP) has a larger market cap than Solana (CRYPTO: SOL), at $83 billion versus Solana's $48 billion. During the coming years, both assets are going to be competing for the same prize, which is to be the infrastructure layer for the trillions of dollars in tokenized real-world assets (RWAs), or the ownership of things like stocks and commodities converted into crypto tradeable on blockchains. Solana has quite a few meaningful edges in that race at the moment. Could it end up being worth more than XRP by early 2029 as a result? 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 » Solana is already winning where it matters most Solana's most important features are its speed and its low costs, both of which make it a natural fit for handling tokenized assets that need to move around at mass scale, like stocks, bonds, and commodities contracts. The chain has already positioned itself as something closer to an internet-native stock exchange than a crypto chain. About $272 million in tokenized stocks are already circulating in its ecosystem, up 14% in the 30-day period ended March 5. By some estimates, the total value of all tokenized stocks will rise to more than $38 billion by 2035, which, given that they're worth about $1 billion today, indicates that there's a major growth segment waiting to be claimed. Plus, when that value changes hands, the transaction needs to settle in something less volatile than a stock, like a stablecoin. Solana has plenty of those, too, with $15.5 billion in stablecoin capital on its chain. And every transaction or swap on Solana...
Moog ( MOG.A ) announced an offering of $500 million in aggregate principal amount of senior notes due 2034, on Tuesday. Moog intends to use the net proceeds from the offering, together with cash on hand, to redeem all $500 million aggregate principal amount outstanding of its 4.250% senior notes due 2027, including any accrued and unpaid interest thereon. MOG.A -0.03% premarket to $316. Source: P...
Moog ( MOG.A ) announced an offering of $500 million in aggregate principal amount of senior notes due 2034, on Tuesday. Moog intends to use the net proceeds from the offering, together with cash on hand, to redeem all $500 million aggregate principal amount outstanding of its 4.250% senior notes due 2027, including any accrued and unpaid interest thereon. MOG.A -0.03% premarket to $316. Source: Press Release More on Moog Moog Stock Surges On Aerospace Rerating And There Is More To Come Moog Flying High On Exceptional Growth And Sector Popularity Moog Inc. 2026 Q1 - Results - Earnings Call Presentation Moog raises 2026 EPS outlook to $10.20 amid record sales and defense demand Moog beats top-line and bottom-line estimates; raises FY26 outlook
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Gilat Satellite Networks ( GILT ) on Tuesday announced that its unit Gilat DataPath received about $6M in new orders to provide field and technical services for the U.S. Army over the next six months. The order extends Gilat’s multi-year support for the U.S. Army’s PEO C3N under the GTACS II contract vehicle. Shares +8.80%. More on Gilat Satellite Gilat Satellite Networks Ltd. (GILT) Q4 2025 Earni...
Gilat Satellite Networks ( GILT ) on Tuesday announced that its unit Gilat DataPath received about $6M in new orders to provide field and technical services for the U.S. Army over the next six months. The order extends Gilat’s multi-year support for the U.S. Army’s PEO C3N under the GTACS II contract vehicle. Shares +8.80%. More on Gilat Satellite Gilat Satellite Networks Ltd. (GILT) Q4 2025 Earnings Call Transcript Gilat Satellite Networks Ltd. 2025 Q4 - Results - Earnings Call Presentation Gilat Satellite Networks: Upside Case Built On IFC, Not Momentum Gilat gains on securing $39M in orders for Sidewinder ESA terminals Gilat wins $9 million satellite communications contract from Israel defense ministry
(RTTNews) - Canadian shares are likely to see a mixed start Wednesday morning, tracking the trend in commodity markets and European stocks. The mood is likely to remain cautious with investors looking ahead to U.S. PCE data for more clarity about the outlook for Fed interest rates. Federal Reserve governor Michelle Bowman has warned of upside risks to the inflation outlook and reiterated the need ...
(RTTNews) - Canadian shares are likely to see a mixed start Wednesday morning, tracking the trend in commodity markets and European stocks. The mood is likely to remain cautious with investors looking ahead to U.S. PCE data for more clarity about the outlook for Fed interest rates. Federal Reserve governor Michelle Bowman has warned of upside risks to the inflation outlook and reiterated the need to keep borrowing costs elevated "for some time". Her counterpart Lisa Cook said that the timing of any rate adjustment will depend on how economic data evolve and what they imply for the economic outlook and balance of risks. In Canadian earnings news, AGF Management Limited (AGF.B.TO) reported adjusted net income of $23.6 million for the second quarter ended May 31, 2024, compared to $31.2 million in the corresponding quarter of the previous year. On the economic front, preliminary data on Canadian wholesale sales for the month of May is due at 8:30 AM ET. The Canadian market ended weak on Tuesday after data showed a bigger than expected increase in the nation's consumer price inflation in the month of May. Consumer discretionary, communications, healthcare and materials shares were among the notable losers. Technology and consumer staples shares found good support. The benchmark S&P/TSX Composite Index, which dropped to a low of 21,704.74 intraday, ended the session with a loss of 60.11 points or 0.28% at 21,788.48. Asian stocks ended mostly higher on Wednesday as a rebound in tech stocks helped offset hawkish comments from Federal Reserve officials. After a firm start, European stocks pared gains and are currently in negative territory, with the mood turning cautious ahead of key U.S. data, and uncertainty about Fed interest rates following hawkish comments from some central bank officials. Political concerns appear to be weighing as well. In commodities, West Texas Intermediate Crude oil futures are up $0.40 or 0.5% at $81.23 a barrel. Gold futures are down $5.50 or 0....