Mon, Jul 1, 2024 7:03 PM
Chewy stock surges after 'Roaring Kitty' discloses 6.6% stake
A Flip by Avya Verma
Federal Reserve Bank of New York President John Williams pushed back against the idea that the natural rate of interest, known as r-star, has risen since the pandemic, citing estimates that place it near pre-Covid-19 levels. Williams emphasized that the neutral rate, which guides monetary policy, has declined by 2 percentage points over the past 30 years.
Open Flip
Global Industrial's shares have declined 33% from their 52-week high, making it a potential buying opportunity. The company distributes MRO products to 400,000 industrial customers, with a 90% customer satisfaction rate and 50% of sales coming from private-label products with higher margins. The recent acquisition of Indoff for $73 million is expected to reignite growth.
Open Flip
Shares of Allied Blenders and Distillers Ltd. surged 7% to ₹339.40 on Wed, following a positive initiation report by Sharekhan with a price target of ₹450, implying a 40% upside. The brokerage expects multifold earnings growth with debt reduction & premiumization, leading to improved return on equity & capital employed by FY2026. The stock is currently trading at discounted multiple of 22 times.
Open Flip
