Investors are the most bullish since November 2021, a widely followed survey shows
Optimism is high on Wall Street at the midpoint of the year. Investors are the most bullish they have been since November 2021, according to the global fund manager survey, or FMS, released Tuesday from Bank of America Securities. Not only are portfolio managers not anticipating a recession, but they are also betting big on […]
American households have seen their purchasing power increase
Americans have seen their buying power rise for a year amid falling inflation and a strong job market, which might be welcome news for households struggling to afford everyday purchases. The average worker in the private sector saw their real hourly earnings grow 0.8% from May 2023 to May 2024, according to U.S. Bureau of Labor Statistics data. “Real” earnings measure the […]
Google’s Android apps are coming in 3D via Xreal as competition with Apple’s Vision Pro heats up
BEIJING — Games and movies on Google Play Store apps can now be viewed in three dimensions via a new Android mobile device from augmented reality glasses maker Xreal, the Alibaba-backed startup said Tuesday. The Beam Pro, the company’s latest product, is a smartphone-like device that can be used with AR glasses as a virtual mouse, […]
Warren Buffett buys Occidental shares for 9 straight days, pushes his stake to nearly 29%
Warren Buffett’s Berkshire Hathaway has scooped up more shares of Occidental Petroleum over each of the past nine trading sessions, driving his gigantic stake in the Houston-based oil and gas producer to almost 29%, according to regulatory filings. The Omaha, Nebraska-based conglomerate purchased Occidental shares every trading day from June 5 to Monday, totaling an additional 7.3 million shares with […]
Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure
Starboard Value, the activist fund run by Jeff Smith, has taken a sizable stake in graphics design firm Autodesk and has spoken with the company’s board in recent weeks over several serious concerns involving its disclosures around an internal investigation that led to the ouster of its chief financial officer. Starboard’s stake is valued at roughly $500 million, according to […]
Stocks making the biggest moves premarket: La-Z-Boy, NextEra Energy, Kroger, Lennar and more
Check out the companies making headlines in premarket trading: La-Z-Boy — Shares jumped more than 9% after La-Z-Boy’s latest quarterly results beat expectations. The furniture company posted fiscal fourth-quarter adjusted earnings of 95 cents per share on revenue of $554 million. Analysts polled by LSEG anticipated earnings of 70 cents per share on revenue of $516 […]
Warren Buffett’s Berkshire Hathaway trims its stake in Chinese EV maker BYD to 6.9%
Berkshire Hathaway, an early investor in BYD thanks to the late Charlie Munger, continued to trim its massive stake in China’s biggest electric vehicle maker. Warren Buffett’s conglomerate has sold an additional 1.3 million Hong Kong-listed shares of BYD for $39.8 million, according to a filing to the Hong Kong Stock Exchange. The sale reduced Berkshire’s holding to 6.9%, […]
Stocks making the biggest moves midday: Adobe, RH, Hasbro and more
Check out the companies making headlines in midday trading: Adobe — The software stock surged 14.5% on stronger-than-expected quarterly results. Adobe posted adjusted earnings of $4.48 per share on $5.31 billion in revenue and boosted its full-year guidance. JPMorgan also upgraded shares to overweight from neutral. RH — The luxury retailer plummeted 17% after reporting a much […]
Keith Gill has some tough choices to make on his GameStop options with Wall Street ready to pounce
As Roaring Kitty continues to watch his favorite GameStop shares swing wildly, he might be contemplating what to do with his massive options position that is approaching expiration. The meme stock champion, whose real name is Keith Gill, has so far held onto his positions of 5 million GameStop common shares and 120,000 call options, according to […]
This fintech configures expense cards to block misuse — and investors just backed it with millions
A startup that uses technology to stop employees from abusing corporate expenses just raised 8 million euros ($8.6 million) of funding from investors, defying a slump in investment for the financial technology industry. CleverCards, a Dublin-based firm, uses a digital platform linked to configurable expense cards to give companies control over how their employees use […]