Stock market

Wells Fargo faces lawsuit over alleged health plan mismanagement and inflated prescription costs

American financial services giant Wells Fargo & Co. has been hit with a class action lawsuit accusing the bank of mismanaging its employee health insurance plan, which allegedly forced tens of thousands of US employees to overpay for prescription drugs. Filed on Tuesday in Minnesota federal court, the lawsuit claims the bank violated the Employee […]

Why is Jim Cramer optimistic on McDonald’s despite Q2 weakness?

Jim Cramer, the renowned financial commentator, is taking a positive outlook on McDonald’s Corp (NYSE: MCD) despite the company’s underwhelming second-quarter results.  As investors shift their focus from high-flying stocks to those with potential for recovery, McDonald’s stands out as a promising candidate for future growth. Although McDonald’s reported Q2 earnings that fell short of […]

Perplexity AI to compensate publishers for content: Will Google and OpenAI follow suit?

Perplexity AI, after being accused of plagiarism, is doing some damage control and is willing to pay publishers to use their content for AI.

Meta to pay $1.4 billion to settle Texas lawsuit over facial recognition data misuse

In a landmark decision, Meta Platforms, the parent company of Facebook, has agreed to pay $1.4 billion to settle a lawsuit brought by the state of Texas over the unauthorized use of biometric data.  This settlement, approved by a Texas state district court in Harrison County, is the largest ever obtained from a single state’s […]

AMD investors anticipate key updates on new GPU line ahead of Q2 earnings

AMD is set to announce its Q2 earnings but investors are eagerly waiting for an update on MI325 and MI 350 GPUs.

Long CUBE: CubeSmart Set to Report Earnings August 1st, Breakout Signals Targeting $50

Long ACGL: Arch Capital Bounces Off Support, Bullish Push Expected Ahead of Earnings

Top 3 High-Performing Stocks to Acquire

Headlines:,BTIG Identifies 12 Promising Stocks Amid Market Volatility,AppFolio Emerges as a Top Performer with Impressive Growth Metrics,Analysts Project Significant Profit Increase for AppFolio in 2024 and 2025,Following a challenging week for the,S&P 50...

CAC 40 index: death cross nears ahead of Safran, Danone, Campari earnings

The CAC 40 index has moved into a technical recession after falling by over 10% from its highest point this year. It retreated to a low of €7,440 on Monday as focus remains on key earnings by some of the biggest French companies. Luxury sector demand woes The main reason why the CAC 40 index […]

Nikola stock price outlook: All eyes on August 9

Nikola (NKLA) stock price has continued to underperform the market this year as investors worry about its future and dilution risks. It has slipped by over 64% this year and by 88% in the past 12 months. A $100,000 investment in the company at its highest point in 2023 would now be less than $9,000. […]

Hewlett Packard’s networking business set to double as EU poised to approve Juniper acquisition

Hewlett Packard is expected to get an unconditional approval from the European Commission for its acquisition of Networking Equipment company Juniper Networks.

Donald Trump’s reelection could spike inflation, warns Allianz chief economist Subran

As former President Donald Trump gears up for a potential return to office in November, economist Ludovic Subran warns of a potential inflationary surge.  Subran, the chief economist at Allianz, predicts that Trump’s reelection could have significant repercussions for the US economy, exacerbating inflationary pressures that are already a concern for financial markets and policymakers. […]

McDonald’s misses Q2 estimates as same-store sales decline for first time since pandemic

McDonald’s (MCD) reported second-quarter earnings and revenue that fell short of Wall Street expectations, as higher menu prices only partially offset decreased foot traffic. This resulted in a decline in same-store sales for the first time since the pandemic began, highlighting challenges even as the company introduced budget-friendly options like the $5 meal deal. McDonald’s […]

BlackBerry appoints Tim Foote as new CFO amid strategic transformation

BlackBerry Ltd. has announced the appointment of Tim Foote as its new Chief Financial Officer (CFO), marking a significant leadership change as the company continues its strategic shift towards cybersecurity and software solutions.  Foote, who has been with BlackBerry for nearly a decade, brings extensive experience in finance, investments, and cybersecurity, making him a key […]

ON Q2 earnings decline but the stock is surging, here’s why

ON Semiconductor announced Q2 earnings today. Even though its earnings are declining on a yearly basis, the company beat expectations and expects promising growth.

UltraTech Cement expands dominance with $472 million stake purchase in India Cements amid industry consolidation

India’s largest cement manufacturer, UltraTech Cement, has announced a major strategic move that could reshape its position in the Indian cement industry.  On Sunday, UltraTech revealed its plans to acquire a 32.72% equity stake in India Cements from the company’s promoters and their associates for Rs 3,954 crores ($472.38 million), or Rs 390 per share. […]

HSBC downgrades ARM Holdings ahead of Q1 earnings: Should you sell or hold?

In a recent shift that has stirred investor sentiment, HSBC has downgraded ARM Holdings PLC (NASDAQ: ARM) from ‘Hold’ to ‘Reduce’. The new price target for ARM is set at $105, down from the previous $100, amid concerns about the company’s high valuation and a slowing market for Android smartphones. This downgrade comes just as […]

Philips CEO outlines growth strategy after $1.1 billion settlement, aims to boost innovation

Koninklijke Philips NV (AMS: PHIA) CEO Roy Jakobs has detailed the company’s strategic vision following a substantial $1.1 billion settlement related to faulty sleep apnea devices.  This settlement, which Philips reached with US litigants, is expected to remove significant legal overhang and allow the company to sharpen its focus on innovation and growth. In an […]

UK bonds rally ahead of Reeves’ speech, ten-year gilt yields fall to 4.02%

UK government bonds surged on Monday, leading a global bond market rally as investors bet on the Bank of England (BoE) lowering interest rates later this week. The yield on ten-year gilts dropped by 0.08 percentage points to 4.02%, marking the most significant daily decline in six weeks. This shift indicates increased market confidence that […]

EU opens investigation into €321 M German state aid for Condor airline

The European Commission has launched an in-depth investigation into its 2021 decision to approve €321 million in restructuring aid from Germany for the airline Condor. This move comes after the General Court of the EU annulled the initial approval in May 2023, citing an insufficient assessment by the Commission on whether Germany received adequate remuneration […]