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Business news
RSP stock: Invesco S&P 500 Equal Weight ETF inflows are soaring
June 29, 2023 12:37 AM AEST| By InvezzThe Invesco S&P 500 Equal Weight ETF (RSP) has underperformed the SPDR S&P 500 ETF (SPY) this year. The RSP ETF has risen by about 5% this year compared to SPY’s gains of over 15%. It has also lagged Invesco QQQ, which has jumped by ove...
Is Cresco Labs stock a good cannabis company to buy?
June 29, 2023 12:36 AM AEST| By InvezzCannabis stocks have lagged the broader market this year. The Global X Cannabis ETF (POTX) stock has dropped by almost 405 this year while the S&P 500 and Nasdaq 100 indices have jumped by double-digits this year. Cresco Labs (NASDAQ: CRLBF) stoc...
iShares iBoxx High Yield Corporate Bond: is the HYG ETF a buy?
June 29, 2023 12:30 AM AEST| By InvezzThe iShares iBoxx $ High Yield Corporate Bond (HYG) ETF has done well this year as investors’ thirst for yield continues. The fund, which tracks junk bonds, has risen by almost 10% from the lowest level in 2022. It has also received strong inflows fr...
General Mills extends its 124-year record of dividend growth
June 28, 2023 09:54 PM AEST| By InvezzGeneral Mills (NYSE: GIS), the giant agricultural commodity company, reported mixed results and hiked dividends by 9%. The company’s net sales rose by 3% in the fourth quarter to over $5 billion. Organic sales rose by 1%, helped by positive org...
Cronos Group stock: Grossly overvalued as bottoming signs emerge
June 28, 2023 08:25 PM AEST| By InvezzCronos Group (NASDAQ: CRON) stock price has underperformed the market as the outlook of the cannabis industry worsens. The shares bottomed at $1.69 this year, which was over 93% below the highest level on record. Its market cap has retreated to about...
SPDR Dow Jones: DIA ETF has formed a rare bullish pattern
June 28, 2023 06:25 PM AEST| By InvezzThe SPDR Dow Jones Industrial Average ETF (DIA) stock price has done well this year. It has risen by about 2.42% this year and by over 7% in the past 12 months. The fund has underperformed the other popular ETFs like the SPDR S&P 500 and Invesco...
SNDL, Tilray stock price forecast: plot thickens for cannabis stocks
June 28, 2023 02:49 PM AEST| By InvezzCannabis stocks are in trouble as investors question their going concerns risks. Most of them have plunged by double digits this year as their bankruptcy risks rise. SNDL (NASDAQ: SNDL) stock price has fallen by over 38% in 2023 while Tilray (NASDAQ:...
Canopy Growth stock price could crash to zero as bankruptcy risks rise
June 28, 2023 02:14 PM AEST| By InvezzCanopy Growth (NASDAQ: CGC) stock price is loitering near its all-time low as investors worry about the company’s future. The cannabis stock was trading at $0.47 on Wednesday, meaning it has erased over 79% of value this year. It has dropped by...
Brookfield Reinsurance may soon own American Equity
June 28, 2023 06:13 AM AEST| By InvezzAmerican Equity Investment Life Holding (NYSE: AEL) ended about 15% up after Brookfield Reinsurance Ltd (TSE: BNRE) said it was willing to buy the annuity provider for $4.3 billion. Analysts’ view on the Brookfield-AEL deal The proposal transla...
Atlassian stock price: red flag as insiders dump TEAM shares
June 28, 2023 01:15 AM AEST| By InvezzAtlassian (NASDAQ: TEAM) stock price has staged a modest recovery this year even as growth and valuation concerns remain. The shares have risen by over 25% this year, underperforming the tech-heavy Nasdaq 100 index. Still, the shares remain about 67%...
Delta Air Lines lifts outlook on ‘no signs of any let up’ in demand
June 28, 2023 12:52 AM AEST| By InvezzDelta Air Lines Inc (NYSE: DAL) is in focus today after raising its guidance for the current financial quarter. Delta Air Lines’ earnings guidance for Q2 The air carrier now forecasts its adjusted per-share earnings to fall between $2.25 to $2....
Wise stock jumps 20% on bumper fiscal 2023 results
June 27, 2023 11:56 PM AEST| By InvezzWise PLC (LON: WISE) gained as much as 20% this morning after reporting strong results for its fiscal 2023. Wise FY 2023 financial highlights The fintech firm concluded the financial year with income of £964.2 million ($1.23 billion) – a w...
Centamin share price is in a bear market: Buy the dip?
June 27, 2023 11:15 PM AEST| By InvezzCentamin (LON: CEY) share price has been in a freefall this year even as gold prices have jumped to the highest level on record. The stock retreated to a low of 90.65p this month, ~27% below the highest level this year. It remains in a bear market, w...
How low can the Vodafone (VOD) share price drop?
June 27, 2023 10:15 PM AEST| By InvezzVodafone (LON: VOD) share price has been unloved and unwanted in the past few months. The stock plunged to 71.36p, the lowest level since November 2011. As a result, the shares have plunged by more than 56% from the highest level in 2022. Vodaf...
Walgreens Boots Alliance slashes guidance as profits retreat
June 27, 2023 09:47 PM AEST| By InvezzWalgreens Boots Alliance (NASDAQ: WBA), the second-biggest retail pharmacy company in the US, published mixed results on Tuesday. Its revenue came in at over $35.42 billion, representing a 8.7% year-on-year growth. This revenue was about $1.5 billion...
Nikola stock price forecast: extremely vulnerable ahead of July 5
June 27, 2023 09:15 PM AEST| By InvezzNikola Motors (NASDAQ: NKLA) stock price has suffered a harsh reversal as investors continue worrying about more dilution. After surging to a multi-month high of $1.83 on June 15th, the stock has retreated by almost 40% to about $1. Significant...
Robinhood layoffs 7% of staff as support for Cardano, Solana, Polygon ends
June 27, 2023 07:12 PM AEST| By InvezzThe renowned trading company Robinhood will reportedly reduce its full-time staff by 7% (about 150 individuals) in its latest round of employee discharge. Meanwhile, the current move comes as the brokerage ends support for Cardano, Solana, and Polygo...
MOEX index is shining in 2023: Only 3 constituents are in the red
June 27, 2023 07:11 PM AEST| By InvezzThe MOEX Russia index retreated on Monday as investors reflected on the recent mutiny in Russia. The index, which tracks the biggest companies in Russia, dropped to 118, lower than this month’s high of almost 130 rubles. Russian stocks react to...
As Lordstown Motors collapses, Mullen Automotive, Canoo could be next
June 27, 2023 05:07 PM AEST| By InvezzLordstown Motors (NASDAQ: RIDE) became the first electric vehicle company to file for bankruptcy protection. The company has struggled to raise capital and build its trucks after Foxconn withdrew from its partnership. Electric vehicle company c...
Carnival CEO says ‘sky is the limit’ after Q2 results
June 27, 2023 06:21 AM AEST| By InvezzCarnival Corp (NYSE: CCL) is down close to 10% on Monday even though it reported market-beating results for the second financial quarter. Why is Carnival stock down today? The cruise operator raised its guidance as well but the stock is being punishe...
