Author: starbpo

It is said that ConocoPhillips is almost ready to make an all-stock deal to buy Marathon Oil Corp. This will end years of consolidation among the big players in the industry. That’s what Danilo Onorino, the portfolio manager of the Swiss-based Dogma Renovatio Equity Fund, says. He has been predicting oil deals since 2020, when the industry was still trying to recover from the effects of the pandemic. “The consolidation comes after the COVID period,” he said. “That was the last spark of the energy transition.” “The energy transition will become more common over time,” Onorino said. “The oil and…

As summer and the midpoint of the year approach, investors are noticing that sticking with stocks seems to be paying off. Clare Hart, recognized as Morningstar’s “outstanding portfolio manager” of 2024, advises maintaining a consistent strategy. She is concluding nearly 20 years as the lead manager of JPMorgan’s Equity Income Fund OIEIX, which has achieved an annualized gain of 9.4% since 2004, surpassing Morningstar’s large value category by over a percentage point. Hart’s fund selects stocks based on three criteria: quality, reasonable valuation, and dividend payments. They also favor companies with reliable management, strong industry positions, and robust structures. In…

U.S. Cellular Corp. and its parent company, Telephone and Data Systems Inc., announced on Tuesday that T-Mobile U.S. Inc. will acquire UScellular’s wireless operations and some spectrum assets for $4.4 billion, including about $2 billion in debt. As part of this agreement, T-Mobile will sign a new license for at least 2,015 telecommunications towers owned by U.S. Cellular and extend leases on about 600 towers where T-Mobile is already a tenant. UScellular customers will not experience any service interruptions and can switch to T-Mobile’s cheaper equivalent plans without any fees. U.S. Cellular’s stock rose 1.3% in morning trading but dropped…

Minneapolis Federal Reserve President Neel Kashkari stated in an interview on Tuesday that he would need to see “many months” of low inflation in the U.S. before considering an interest rate cut. “We need many more months of positive inflation data to feel confident it’s the right time to reduce rates,” Kashkari told CNBC. He is scheduled to give a speech later that day. Tim Duy, chief U.S. economist at SGH Macro Advisers, mentioned that the earliest the Fed might cut rates would be September, unless there’s an unexpected significant slowdown in the labor market. However, Fed Governor Christopher Waller…

UBS has adjusted its S&P 500 index target, surpassing a previous forecast by another division within the same bank that had updated its outlook just last week. Strategists at UBS, led by Jonathan Golub, increased their S&P 500 target to 5,600 from 5,400, citing improved earnings expectations. On Friday, the S&P 500 SPX closed at 5,304.72, marking an 11% gain for the year. “At the end of the first quarter, before the start of the earnings season, consensus estimates predicted [earnings per share] growth of 4.1%. However, it now seems growth will reach 10.6%,” they explained. Though earnings forecasts usually…

It might seem unusual that car experts often discuss phones, but nowadays, phones and cars are closely connected. Apple has introduced a new phone feature that can make driving more convenient. The company recently revealed new accessibility features for its iPhone and iPad, including one that may help reduce motion sickness. The reason behind carsickness Apple states that “motion sickness is often caused by a sensory conflict between what a person sees and what they feel.” This issue is more pronounced when someone looks at a stationary phone in a moving car. Modern smartphones have accelerometers that detect motion, allowing…

Tech stocks started the week positively, boosted by Nvidia and Apple. The Nasdaq Composite Index, which focuses on technology, increased by 0.3% early Tuesday after reaching a record high on Friday. Over the past five weeks, the index has risen by 10.7%, according to Dow Jones Market Data. Apple’s stock neared positive territory for the year, rising by 0.9%. Bloomberg reported that iPhone shipments in China increased by 52% in April, based on data from the China Academy of Information and Communications Technology. Concerns about competition in China and weakening iPhone demand have contributed to a 1.3% decline in Apple…

SAN FRANCISCO — Google faced new legal challenges on Thursday as a federal judge started addressing claims of unfair practices in the Android app market. The hearing, held in San Francisco before U.S. District Judge James Donato, follows a jury’s decision five months ago that found Google’s Play Store to be an illegal monopoly. This decision came after a trial initiated by Epic Games, the maker of “Fortnite.” At the hearing’s start, Donato instructed lawyers not to rehash the jury’s verdict and emphasized that the case is about general competition, not just benefiting Epic. Epic is pushing for significant changes…

According to the U.S. Department of Energy, Americans bought 53% more hybrid cars in 2023 compared to 2022. The department’s Argonne National Laboratory monitors car sales based on their energy source. Their latest data confirms what other sources are saying: despite all the buzz about electric vehicles, Americans are heavily investing in hybrids. Hybrid car sales were not consistently rising over the past decade. They declined from 2014 to 2020 before sharply increasing again. YearNumber of hybrid cars sold20231,175,5972022766,4122021799,0462020455,0672019399,4442018338,1492017370,6802016346,9492015384,4002014452,172 The number could even qualify as an undercount. The laboratory’s data excludes plug-in hybrid vehicles. The surge of hybrid sales has…

WEST POINT, N.Y. — On Saturday, President Joe Biden told graduates of the U.S. Military Academy that they are needed to handle global threats and uphold the country’s values at home like never before. Biden said their class motto fits the challenges they will face as new Army second lieutenants, from helping Ukraine defend against Russia’s invasion to providing aid in Gaza and protecting Israel from Iran’s attacks. “There’s never been a time in history when we’ve asked our military to do so many different things in so many different places around the world, all at the same time,” Biden…