Author: starbpo

Stock futures pointed to a lower start for Wall Street on Wednesday following another record high for the S&P 500 and as investors awaited Nvidia’s quarterly earnings report. These stocks were poised to make moves Wednesday: Nvidia slipped 0.6% in premarket trading ahead of its earnings report scheduled for after the stock market closes. Analysts project that sales jumped almost fourfold in the period to $24.6 billion, with earnings rising fivefold to $5.60 a share, driven by demand for the company’s artificial-intelligence chips. Shares of Nvidia closed at a record high Tuesday, rising 0.6% in the session to finish at…

Before the market opened on Wednesday, shares of Target Corp. TGT, -6.71% fell 7.7%, hitting a three-month low. This came after the discount retail giant reported a fiscal first-quarter profit that fell short of expectations due to weak sales of non-essential items. Net income dropped from $950 million, or $2.05 a share, in the same quarter last year to $942 million, or $2.03 a share, this year. That was less than the $2.06 earnings per share that FactSet thought would happen. Total sales went down 3.1% to $24.53 billion, which was just above the $24.52 billion average predicted by FactSet.…

European automakers’ stocks dropped on Wednesday after a business group in Brussels said the Chinese government might raise tariffs on cars made in Europe and the US. People close to the China Chamber of Commerce to the EU (CCCEU) told them in a letter to the press on Tuesday evening that “China may consider increasing temporary tariff rates on imported cars equipped with large-displacement engines.” Shares of car companies on the STOXX Europe 600 Automobile & Parts Index XX:SXAP fell 1.9% on Wednesday. So far this year, they have gained 4%. VW VOW, -0.79% stock fell 1% on Wednesday, while…

The stock of Trump Media & Technology Group didn’t change much early Wednesday. For now, the 17% drop over the last week has been put on hold. Before the market opened, shares were up 0.1% to $44.25. Tuesday, the company reported poor results for the first quarter, which caused the stock to drop 8.7%. Another piece of news about former President Donald Trump is that his campaign is now accepting Bitcoin and Ether as donations. It shows that the Republican campaign and the crypto industry are getting closer. The Truth Social media platform is run by DJT. A video shared…

Oaktree Capital said on Wednesday that it had bought well-known soccer club Inter Milan because the team had not paid back a loan. Oaktree said that Inter Milan did not pay back a €395 million ($428 million) loan that was due on Tuesday. “We want the Nerazzurri to be successful in the long term, and we think our goals for the Club are the same as those of its devoted fans in Italy and around the world.” “Our first priority is operational and financial stability,” said Alejandro Cano, who is co-head of Europe for Oaktree’s global opportunities strategy. Oaktree, a…

Based on an option grant he got in 2021, Jamie Dimon has a $75 million reason to stay on as CEO of JPMorgan Chase for another two or three years. Dion, who is 68 years old, hinted at his plans to step down as CEO earlier than planned at the company’s investor day on Monday. He said, “The timetable isn’t five years anymore,” which was the usual answer he gave when asked about succession. Dimon is likely to stay CEO until 2026, when a special option award of 1.5 million shares of JPMorgan stock will become fully paid. That grant…

Noelle Marcus grew up on Cortes Island, British Columbia, a small island community off the coast of Canada’s Pacific Northwest. Every event and group of friends was made up of people of all ages. Because it was a small community, everyone had to make friends with people from other generations, and that intergenerational lens shaped how she lived her life. Marcus now brings that point of view to the company she started, Nesterly, which helps people of all ages connect with each other and find affordable housing by letting people share their homes. She thinks that home sharing can help…

People who work in the crypto industry are getting more hopeful that new laws that would weaken the U.S. Securities and Exchange Commission will pass this week with strong support from both parties and might even become law before the end of the year. The Financial Innovation and Technology for the 21st Century Act is expected to be voted on by the House of Representatives on Wednesday. This bill would make it clearer who is responsible for overseeing the crypto industry by giving the Commodity Futures Trading Commission more power over it than the SEC. Digital asset companies have long…

Stocks mostly went up on Tuesday, after going down earlier after Federal Reserve Gov. Christopher Waller said he needs to see “several more months of good inflation data” before he’ll think about lowering interest rates. On Tuesday, these stocks were moving: Palo Alto Networks reported an adjusted profit of $1.32 per share for the fiscal third quarter, which was higher than the $1.25 per share that analysts had expected. However, shares fell 2.7% after the cybersecurity company gave investors a less-than-impressive outlook for the fourth quarter. Palo Alto thought that it would make between $2.15 billion and $2.17 billion in…

Macy’s Inc. shares were going up on Tuesday after the department store chain reported fiscal first-quarter results that were down from the same time last year but better than expected. This was due to strong performance at its Bloomingdale’s and Bluemercury stores. Even though same-store sales fell for the eighth quarter in a row compared to the same time last year, sales went up at Bloomingdale’s and Bluemercury for the thirteenth straight quarter. AlphaSense’s transcript of the conference call after the earnings report says that CEO Tony Spring said, “We are reading and reacting to the dynamic economic environment and…