Apple recently unveiled its latest products to a lukewarm reception from investors. Despite hitting an all-time high back in July, the stock has since dipped almost 7%. However, Apple still remains the second-best performing stock among the “Magnificent Seven” over the last three months, outpacing companies like Google-parent Alphabet and Nvidia. The company’s stock saw
Oracle, the renowned database software vendor, exceeded Wall Street estimates in its fiscal first-quarter results, leading to a significant increase in its shares by 9% in extended trading. The company reported an adjusted earnings per share of $1.39 compared to the expected $1.32, and a revenue of $13.31 billion, surpassing the $13.23 billion estimate. Financial
Big Lots, a discount home goods retailer, recently announced their bankruptcy filing due to a variety of factors that have significantly impacted their business. The company, known for its low-priced furniture and decor, has faced challenges with high interest rates and a sluggish housing market, leading to a decrease in demand for their offerings. As
The IRS has been making efforts to avoid increased audits on taxpayers making less than $400,000, however, experts warn that certain aspects of your tax return can still attract scrutiny regardless of your income level. The Treasury Inspector General for Tax Administration (TIGTA) recently reported that the IRS has made limited progress in developing the
Despite the efforts to stabilize the economy, China’s property market is still facing challenges. Standard Chartered CEO Bill Winters expressed concerns about the ongoing turmoil in the real estate sector. Winters highlighted the difficulties in the investing environment in China, citing low consumer confidence and international investor confidence. Winters mentioned that the core issue behind
China recently released its consumer price index report for August, showing a 0.6% year-on-year increase. This figure was slightly below expectations, with costs of transportation, home goods, and rents experiencing a decline. Food prices, on the other hand, saw a significant rise of 2.8% year-on-year in August, marking the first positive trend since June 2023.
Looking at the recommendation for Planet Fitness (PLNT) by Baird analyst Jonathan Komp, it is important to note that while he has reaffirmed a buy rating on PLNT stock with a price target of $92, there are some questionable points in his analysis. Komp’s bullish thesis is based on the company’s solid consumer value proposition
Broadcom recently reported its fiscal third-quarter results, exceeding the expectations set by Wall Street analysts. The chipmaking conglomerate managed to outperform in both revenue and earnings, showcasing a strong financial performance. However, despite the positive results, Broadcom shares experienced a 7% drop in extended trading following the release of the company’s guidance numbers. Financial Results
Seven & i Holdings, the parent company of 7-Eleven, recently rejected a takeover offer from Alimentation Couche-Tard. The company stated that the offer was not in the best interest of its shareholders and stakeholders. The proposal offered by Couche-Tard was deemed opportunistic and undervaluing Seven & i’s standalone path and potential for unlocking shareholder value.
Renowned economist Joseph Stiglitz has recommended a half-point interest rate cut by the Federal Reserve in the upcoming meeting. Stiglitz criticizes the U.S. central bank for tightening its monetary policy too aggressively and worsening the inflation problem by doing so. He believes that the Fed should have normalized interest rates instead of keeping them near