Apple’s revenues grew slightly on the back of iPhone sales and its services division despite headwinds from supply chain shortages and factory shutdowns in China. The iPhone maker said revenues had risen 2 per cent from a year ago to $83bn, slightly ahead of analysts’ forecasts for $82.8bn, according to Refinitiv. Apple in April had
Foreign secretary Liz Truss has rejected suggestions of a windfall tax on the profits of energy companies, despite British Gas owner Centrica’s announcement of huge earnings amid calls for increased support with fuel bills for struggling UK households. Truss, who in recent weeks has led the polling in the race to become leader of the
S&P Global has downgraded Pakistan’s outlook to negative from stable, as a depreciating currency, tighter global financial conditions and higher commodity prices weaken the government’s external position. S&P Global reaffirmed its sovereign credit rating of “B-/B” and said it expected external resources to remain “under pressure”, even after an expected IMF disbursement of $1.3bn. “The
Intel shocked Wall Street as it reported a slump in revenue in its latest quarter and slashed its financial outlook for the rest of the year, sending its battered stock price down 10 per cent in after-market trading on Thursday. The biggest US chipmaker by revenue blamed the disappointing results on weakening economic conditions, supply
Amazon’s shares rose more than 10 per cent on Thursday after it beat revenue expectations and offered an upbeat forecast for the remainder of the year, as its reins in ecommerce costs and benefits from strong demand for its cloud computing business. Amazon said it expected to return to double-digit quarterly revenue growth now that
Bitcoin (BTC) price rallied toward $24,200 on July 28 after a near-10.5% surge that began a day earlier. The gains appeared after Federal Reserve Chairman Jerome Powell signaled intentions to slow down the Fed’s prevailing tightening spree. This prompted some Bitcoin analysts to predict short-term upside continuation, with pseudonymous analyst CryptoHamster seeing BTC at $26,000
In this article DXCM AVTR FIVN ROKU INTC AAPL AMZN Amazon signage is displayed outside of an Amazon.com Inc. delivery hub in the late evening of Amazon Prime Day, July 12, 2022 in Culver City, California. Patrick T. Fallon | AFP | Getty Images Here are the stocks making notable moves after hours: Amazon —
After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred to a third party.” Furthermore, Celsius customers have written to the court begging to
Three United States senators have written to Fidelity Investments CEO Abigail Johnson demanding an explanation for the financial services company’s decision to include Bitcoin-exposed funds in its 401(k) retirement plans. “This decision is immensely troubling,” they wrote. Democrats Dick Durbin, Elizabeth Warren and Tina Smith sent their letter Tuesday. The letter, which is around a
Americans want to know: Is this a recession or not? Officially, the National Bureau of Economic Research defines recession as “a significant decline in economic activity that is spread across the economy and lasts more than a few months.” In fact, the latest quarterly gross domestic product report, which tracks the overall health of the economy, showed
Municipals were stronger and inflows returned Thursday, following a rally in U.S. Treasuries after GDP numbers came in weaker for the second month in a row and a day after the Fed hiked rates 75 basis points. Equities ended in the black. Triple-A municipal yields fell up to eight basis points, depending on the scale,
The energy, climate and social spending bill that won critical support in the US Senate this week would raise $14bn by taking aim at a tax break long cherished by America’s wealthiest private equity and hedge fund managers. “Carried interest” allows profits accrued by investment managers to be taxed at a lower rate than ordinary
President Joe Biden is on the cusp of two back-to-back legislative victories after Congress passed a $280bn package to boost the semiconductor industry while a conservative Democrat unexpectedly swung behind a sweeping tax-and-spend bill. The House of Representatives on Thursday voted to pass the Chips and Science Act, which includes subsidies for the US semiconductor
At the height of his success, the Pakistani tycoon Arif Naqvi invited cricket superstar Imran Khan and hundreds of bankers, lawyers and investors to his walled country estate in the Oxfordshire village of Wootton for weekends of sport and drinking. The host was the founder of the Dubai-based Abraaj Group, then one of the largest
Ether’s (ETH) 53% rally between July 13 and 18 gave bulls an edge in July’s $1.26 billion monthly options expiry. The move happened as Ethereum developers set a tentative date for the “Merge,” a transition out of the burdensome proof-of-work (PoW) mining mechanism. According to some analysts, by removing the additional ETH issuing used to
Municipal credit quality has reached its peak and several sectors are vulnerable to stronger economic and political headwinds that are likely to impair credit and rating trends for the rest of 2022 and beyond. This is according to a report from Municipal Market Analytics, which revised down its credit outlook for several sectors including hospitals,
Tracey Ryniec uncovers two top stocks that are flying under the radar. Natus Medical Inc.: https://www.zacks.com/stock/quote/BABY?cid=CS-YOUTUBE-FT-VID Coherent Inc: https://www.zacks.com/stock/quote/COHR?cid=CS-YOUTUBE-FT-VID Follow us on StockTwits: stocktwits.com/ZacksResearch Follow us on Twitter: twitter.com/ZacksResearch Like us on Facebook: www.facebook.com/ZacksInvestmentResearch
Bitcoin’s (BTC) price has been stuck in a descending channel since July 20 and it is currently heading toward the $20,000 support by the end of July. Adding to this bearish price action, BTC is down 50% year-to-date, while U.S. listed tech stocks, as measured by the Nasdaq-100 index, accumulated a 24% loss. As the
Manhattan’s Puck Building, located at the intersection of Nolita, the Bowery, Soho and Greenwich Village, was built between 1886 and 1893, an example of the German Rundbogenstiel (round-arch) style of architecture designed by Albert Wagner. The building is owned by Kushner Properties, the company of Charles Kushner and his son, Jared, son-in-law of former President
In this week’s episode of Market Talks, we welcome the founder, chief investment officer and managing director of Morgan Creek Capital Management, Mark Yusko. Mark W. Yusko is an investor and hedge fund manager. He is the founder, chief investment officer and managing director of Morgan Creek Capital Management and also the Co-Founder & Partner