Nvidia is ‘in a league of its own,’ BTIG says
Nvidia (NASDAQ:NVDA) stock is in “a league of its own,” BTIG analysts said in a note released Sunday. The chipmaker’s shares have recently traded approximately 100% above its 200-day moving average (DMA). According to BTIG, this is unprecedented, as the widest spread any U.S. company has ever traded above its 200 DMA while holding the […]
Tesla’s Musk wins shareholder approval for $56 billion pay package, touts his ability to ‘deliver’
Tesla shareholders approved CEO Elon Musk’s $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an incentive to keep his focus on his biggest source of wealth. The approval underscores the support that Musk enjoys from Tesla (NASDAQ:TSLA)’s retail investor base, many of whom are vocal fans […]
Investment banks lift Broadcom price targets after strong results
Broadcom (NASDAQ:AVGO) released impressive quarterly results earlier this week, and a number of investment banks have responded positively, raising their price targets as a result. The chipmaker raised its forecast for annual revenue from AI-linked chips to $11 billion from $10 billion, raised its annual revenue and core profit projections and announced a 10-for-1 stock […]
Asian stocks dip amid China trade jitters, Japan rises as BOJ underwhelms
Most Asian stocks fell on Friday as a rally on signs of cooling U.S. inflation wound down, while Japanese shares rose after the Bank of Japan surprised markets by signaling no near-term changes to its bond buying program. Chinese markets were the worst performers for the day, hit by new European Union tariffs against the […]
DraftKings added to Morgan Stanley Top Picks List
Morgan Stanley added DraftKings (NASDAQ:DKNG) to its Top Picks list in a note Monday despite Illinois’ recent move to a higher/progressive tax structure. The investment bank argues that tax increases do not translate 1:1 and should not be viewed as a foregone conclusion across markets. “State budget shortfalls are not ubiquitous so higher taxes should […]
Investing with inflation in mind: The sectors with the most opportunities
“Investors may need to rethink how they position their portfolios if inflation declines as expected this year and in 2025. The sharp drop in U.S. inflation during 2023 raised hopes for aggressive interest rate cuts by the Federal Reserve (Fed). But since then, the market has gone from expecting six to seven rate cuts to […]
Singapore’s top bank DBS eyes $370 billion in wealth assets by 2026, top exec says
DBS Group (OTC:DBSDY) plans to boost assets under management for its wealth business to S$500 billion ($369.7 billion) by the end of 2026, said the unit’s head, as the top Singaporean bank bets on robust inflows into the city state. Wealth assets at DBS grew 23% to a record S$365 billion last year, as Singapore […]
Benign US inflation could support stock market laggards
Signs of falling U.S. inflation on Wednesday and growing hopes for interest rate cuts from the Federal Reserve could be a positive signal for large swathes of the stock market that have languished in a rally led by Big Tech. Benign consumer price data fueled bets the Fed will lower rates in coming months and […]
US stocks hit record highs, dollar pares losses after CPI, Fed decision
The S&P 500 and the Nasdaq scored record closing highs for the third consecutive session on Wednesday and U.S. Treasury yields pared earlier declines as investors weighed a market-pleasing inflation report against lowered interest rate cut expectations. The dollar shed some weakness after the U.S. Federal Reserve concluded its two-day policy meeting by leaving interest rates unchanged, […]
Virgin Galactic announces reverse stock split
Space tourism company Virgin Galactic announced a 1-for-20 reverse stock split on Wednesday, sending its shares down 19% in extended trading. The stock split is expected to go into effect on June 14 after markets close and resume trading on a split-adjusted basis after markets open on June 17. The company is planning the […]