U.S. monthly inflation rose moderately in March, but stubbornly higher costs for housing and utilities suggested the Federal Reserve could keep interest rates elevated for a while. The report from the Commerce Department on Friday, which also showed strong consumer spending last month, offered some relief to financial markets spooked by worries of stagflation after data on Thursday.
Open FlipU.S. first-quarter estimated earnings growth is looking stronger at nearly the halfway mark of the reporting period, with corporate results giving a boost to stocks this week after recent weakness. S&P 500 year-over-year earnings growth for the first quarter of 2024 is now seen at 5.6%, according to LSEG data on Friday. That is up from 4.3% the day before.
Open FlipA U.S. Federal Reserve meeting and Apple and Amazon reporting results will keep investors' focus in the days ahead on the global rates outlook and on tech earnings, while growth and inflation data from Europe and China are also coming out. 1/ WILL THEY, WON'T THEY? Hints of whether the Fed still expects interest rate cuts at some point this year takes centre-stage for investors.
Open FlipThe stock gave multibagger returns of 536 per cent in 1 year whereas Suzon’s share price gained 414 per cent in the same period. Suzlon's peer company Inox Wind Limited, a prominent player in the renewable energy sector, has announced that the Board of Directors of the company has proposed the issuance of bonus shares of 3:1 (three bonus equity shares for every one existing equity share).
Open FlipRichly valued U.S. stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report. Strong reports from Microsoft and Google parent Alphabet on Thursday helped propel the S&P 500 to its biggest weekly gain since early November following its first 5% pullback of the year.
Open Flip“Stick to value stocks,” the Pacific Investment Management co-founder posted Thursday morning on X, formerly known as Twitter. “Avoid tech for now.”Just a day later, the tech-heavy Nasdaq Composite Index notched its best session since February after Microsoft Corp. and Alphabet Inc. showed the AI earnings bonanza still has juice.It’s the latest gut-check for anyone.
Open FlipVincerx Pharma Inc VINC shares are trading lower by 9.7% to $0.81 during Friday’s session after the company priced an underwritten public offering, including 6 million shares of common stock with accompanying warrants to purchase the same number of shares, and pre-funded warrants for up to 16 million shares with accompanying warrants.
Open FlipHCA Healthcare Inc HCA reported on Friday its first-quarter revenues of $17.34 billion, up from $15.59 billion a year ago, beating the consensus of $16.78 billion. The hospital chain reported adjusted EPS of $5.36, up from $4.93 a year ago, beating the consensus of $5.36. “The strong fundamentals we saw in our business this past year continued into the first quarter of 2024."
Open FlipShares of ResMed (NYSE: RMD) had soared 16.2% higher as of 11:50 a.m. ET on Friday. The big jump came after the healthcare technology company reported results on Thursday evening for its fiscal 2024 third quarter, which ended March 31.For the quarter, ResMed reported revenue of $1.2 billion, up 7% year over year, and earnings per share of $2.04, based on generally accepted accounting principles.
Open FlipJp Morgan CEO Jamie Dimon says stagflation could be one of a number of possible outcomes for the U.S. economy as the Federal Reserve attempts to tame stubbornly high consumer prices.In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained “cautious” about the U.S. economy and said inflation may be stickier for longer.
Open FlipExxonMobil is nowhere close to holding the kind of market power its Standard Oil ancestor enjoyed back in the day, but it certainly is cementing its lead over supermajor peers.On Friday, Exxon reported that first-quarter earnings were down 28% compared with a year earlier, driven by lower natural gas prices and refining margins. Earnings were 6.4% lower than what analysts polled by Visible Alpha.
Open FlipLast year was pretty spectacular for Royal Caribbean Cruises (NYSE: RCL) investors. The popular cruise line operator saw its shares more than double up 162% last year. Hot stocks rarely repeat the feat, and to be fair, Royal Caribbean is only up 6% in 2024 through Thursday's close. Just give it some time to find its sea legs again.
Open FlipCommodities markets have seen rapid growth over recent years, attracting new players and creating new opportunities for a transitioning energy sector in need of investment.It is “a positive development”, according to a new report by strategy and management consultancy McKinsey, which suggests that vibrant markets are good news for value pools, as well as developing transitional technologies.
Open FlipHow To Earn $500 A Month From Domino's Pizza Stock Ahead Of Q1 EarningsDomino’s Pizza, Inc. (NYSE:DPZ) is scheduled to post earnings results for its first quarter, before the opening bell on April 29, 2024.Analysts expect the Ann Arbor, Michigan-based company to report quarterly earnings at $3.39 per share, up from $2.93 per share in the year-ago period.
Open FlipThe top 20 biopharmaceutical companies witnessed a promising first quarter (Q1) this year amid ongoing macroeconomic uncertainties, fluctuating interest rates, and evolving Medicare drug price negotiations.According to GlobalData, a leading data analytics and research company, these companies reported a total increase of 9.6% in market capitalisation, from $3.67trn on 31 December 2023 to $4trn.
Open Flip