The Federal Reserve is currently under scrutiny as market experts debate the potential for rate cuts in the year 2024. Some believe that the Fed will implement two rate cuts, with the first one starting in September. However, if the inflation data does not show significant improvement by September, there might not be any rate
2024
In recent days, GameStop has once again become a trending topic on Reddit’s infamous WallStreetBets page. Mentions of the video game retailer on the forum have exceeded 900 within the last week, according to data from Quiver Quantitative. This surge in discussion has catapulted GameStop to second place as the most referenced equity, just behind
Regeneron Pharmaceuticals, Inc. stands as a prominent player in the biopharmaceutical industry, with a strong strategic focus on novel therapeutic areas. The company’s financial performance is robust, with a market capitalization of $103.43 billion, showcasing a substantial industry presence. Additionally, Regeneron’s earnings per share (EPS) have shown an upward trajectory, with projections indicating continued growth.
The restaurant industry has been facing a period of sales slump and declining traffic due to a broader consumer slowdown. However, there are a few outliers in the industry that have managed to report strong sales this quarter. Chipotle Mexican Grill, Wingstop, and Sweetgreen are some of the brands that have seen an increase in
Singapore’s Oversea-Chinese Banking Corp (OCBC) has recently reported a 5% increase in first-quarter profit, exceeding market expectations. In a bold move, the bank has also made a S$1.4 billion ($1.04 billion) offer to acquire its insurer arm Great Eastern, showcasing its commitment to strategic investments and portfolio enhancement. The offer, which includes a 37% premium
India’s consumer price inflation is expected to have eased to 4.80% in April, just slightly below March’s rate. Despite the overall moderation in headline inflation, food prices have remained stubbornly high, exerting pressure on household budgets. Food inflation, which makes up nearly half of the consumer price index (CPI) basket, continues to pose a significant
The absence of a Marvel film to kick off the summer movie season for the first time since 2009 has raised concerns within the industry. The lack of a known franchise brand during the highly lucrative summer moviegoing season can have negative repercussions. This year, Universal’s “The Fall Guy” was the headline film for the
The Broadway scene in Spring 2024 saw an influx of new productions, with 18 debuting between mid-March and late April. However, the aftermath of this Broadway crunch is now showing early signs of the inevitable shake-out. One such example is the impending closure of the show Lempicka, with a few others already playing to houses
Berkshire Hathaway saw its Class A shares trade up 1.2% early Monday after the conglomerate posted an impressive 39% year-over-year growth in operating profit. Additionally, the Warren Buffett-led business also reported a significant increase in cash holdings, approaching a record level of $200 billion. Shares of Paramount surged 2.4% following reports that the owner of
The Asian suppliers of Apple Inc, such as Taiwan’s TSMC and Hon Hai Precision Industry, experienced a significant drop in their stock prices amidst concerns over the decline in iPhone sales. The market reacted negatively, with TSMC and Hon Hai Precision Industry recording a 1.5% and 1.9% decrease in their stock prices, respectively. Similarly, AAC
Hotel giant Marriott International (NASDAQ:MAR) has recently increased its annual adjusted profit forecast following a mixed performance in the first quarter. Despite weakening trends in North America, Marriott is relying on the surge in international travel demand to drive its full-year profit. The company anticipates a significant boost in revenue per available room (RevPAR) from
Bond investors are beginning to show a selective interest in adding longer-dated maturities to their portfolios. This shift in strategy is driven by the belief that the Federal Reserve will choose to delay cutting interest rates and reduce them at a slower pace compared to previous easing cycles. The decision to keep rates unchanged at
Australia’s major banks are anticipated to report weaker first-half profits as operating costs remain high and competition for mortgage and deposit sales intensifies. This has led to a reduction in margins, putting a strain on overall profitability. Although historically, rising interest rates have been beneficial for the Big Four banks, the current scenario has forced
Amazon.com recently reported quarterly results that surpassed Wall Street’s expectations. The company’s focus on artificial intelligence has been a significant factor in driving growth in its cloud-computing division. Despite the impressive performance, Amazon’s current-quarter revenue forecast fell short of expectations, causing a slight dip in the stock price during the regular session. Chief Financial Officer