In the second quarter of 2023, eBay Inc. (EBAY) reported non-GAAP earnings of $1.03 per share and net revenues of $2.54 billion, beating expectations. The company experienced strong momentum in its advertising offerings, with Promoted Listings generating revenues of $341 million, a 47% increase on a reported basis and 49% on an FX-neutral basis compared to the...
Hertz Global Holdings, Inc. (HTZ) is expected to report a year-over-year decline in earnings on higher revenues for the quarter ending June 2023. Analysts predict quarterly earnings of $0.66 per share, representing a decrease of 45.9% from the previous year. Revenues are expected to be $2.46 billion, up 4.8% from the same period last year. Analysts have revised...
AT&T investors await management comments on financial and legal liability for lead-clad cables abandoned long ago, potentially contaminating soil and water sources in the US. Share prices have yet to recover from a three-decade low after a Wall Street Journal report exposed toxic lead cables left behind by telecom giants. AT&T seeks to allay concerns but faces...
Spotify (SPOT) will announce Q2 earnings, with confirmed price hikes hitting subscription plans in various countries, including the US, UK, Spain, France, New Zealand, Hong Kong, and Peru. The ad-free premium plan will rise by $1 to $10.99, Duo plan by $2 to $14.99, family plan by $1 to $16.99, and the student plan by $1 to $5.99 per month. Existing subscribers...
Over the last month, the shares of 3M Company, known for producing post-it notes, industrial coatings, and ceramics, have shown a modest return of +0.7%. While media reports or rumors about substantial changes in a company's business prospects can cause short-term trends and immediate price fluctuations, the ultimate decision to buy and hold a stock is often...
Gold prices rose in Asian trade on Thursday to a two-month high, supported by weak UK inflation data and a weaker dollar. The metal was now just $15 away from reaching $2,000 an ounce. Investors speculated that global interest rates were peaking. Meanwhile, copper prices rebounded due to a softer dollar, but concerns over China's economic growth persisted,...
Recent developments in the oil market have led to fluctuations in crude prices. Factors such as weak economic growth in China, the partial restart of Libyan output, and false reports about Saudi Arabia extending production cuts have influenced oil prices. The expiration of the Black Sea Grain Initiative may also impact grain prices and transportation, which could...
The Nasdaq 100 index is set to undergo a special rebalancing after the market close on July 21, 2023. This rebalancing aims to address the overconcentration of the most heavily weighted stocks in the index. The decision to rebalance comes as the aggregate weighting of the largest stocks in the index has exceeded the 48% threshold. The rebalancing will involve...
Recent developments in the oil market have led to fluctuations in crude prices. Factors such as weak economic growth in China, the partial restart of Libyan output, and false reports about Saudi Arabia extending production cuts have influenced oil prices. The expiration of the Black Sea Grain Initiative may also impact grain prices and transportation, which could...
Precious metals are on the rise as the US Dollar Index weakens and inflation remains moderate. This week presents a potential turning point for metals markets. Grassroots support for the sound money movement is growing, with several states considering legislation to eliminate taxes on gold and silver transactions. While challenges exist at the federal level,...
Alphabet Inc is situated in the lower range of a robust and upward short-term trend, suggesting a potentially favorable buying opportunity. It is worth noting that if the lower trend floor at $117.50 is breached, it could indicate a slower pace of growth and potentially serve as an early warning for a shift in the trend. Based on the present short-term trend, the...
Salesforce stock (CRM) has seen a surge due to a truce with activist investor Elliott Management, the introduction of new AI services, and price increases on key products. The stock gained 5% in July, outperforming the market. CEO Marc Benioff's net worth has risen by $2.5 billion. Salesforce raised prices by an average of 9%, driving positive reactions from...
KeyBanc raised its price target for Apple (NASDAQ:AAPL) to $200 from $180 and maintained an Overweight rating on the stock. However, analysts expressed neutrality in the near term despite their positive long-term outlook. They reiterated their below-consensus revenue estimates for Apple's hardware in the third quarter of 2023. The analysts highlighted two...
Platinum futures are currently trading at around $925 per ounce, not far from an 8-month low of $894 hit on June 28th. The market is currently focused on concerns regarding China's growth recovery losing momentum and has already factored in a projected deficit for this year. Despite demand concerns in China, the World Platinum Investment Council has revised its...
Investor fears of Japanese intervention, rising borrowing costs, and US-China trade conflicts boost demand for the safe-haven Japanese Yen (JPY). The USD/JPY pair is under pressure as the US Dollar (USD) remains weak. The US ISM Services PMI indicates a slowdown in inflation, which suggests a less hawkish stance by the Federal Reserve (Fed). However, the market...
American Express experienced a decline in its stock price on Thursday following a rating downgrade by a Wall Street firm. Several analyzers lowered their rating on American Express stock from Outperform to Neutral/high risk. This change comes after maintaining the Outperform rating for over a year. Despite the downgrade, Baird kept its price target for the stock...
Last month, a significant majority of 97% of UPS Teamsters voted in favor of authorizing a strike in the event that the parcel delivery company fails to present a satisfactory contract for the workers. National negotiations between the Teamsters and UPS commenced on April 17. In the US parcel shipping market, UPS holds a market share of 24% based on parcel volume...
Levi Strauss is gearing up to demonstrate its performance as it approaches its upcoming earnings release scheduled for July 6, 2023. Analysts are anticipating an EPS of $0.03, representing an 89.66% decrease compared to the same quarter of the previous year. Additionally, the Consensus Estimate for revenue suggests net sales of $1.33 billion, reflecting a decline...