Stock Market Today: Nasdaq clinches all-time high close as tech reigns supreme
The Nasdaq closed at a record high Friday, led by tech and expectations for Federal Reserve rate cuts later this year, though a dent in consumer sentiment kept gains in check. At 16:00 ET (20:00 GMT), the NASDAQ Composite was up 0.2% to close at record high of 17,693.43. The Dow Jones Industrial Average fell 57 points, or 0.2%, S&P 500 dropped […]
S&P 500 ends lower, European stocks wrap up biggest weekly loss of the year
Banks advising South Korean automaker Hyundai on its India IPO are set to make as much as $40 million in fees, three sources said, a windfall in a market where banks typically struggle to make money given cost-conscious clients and fewer big deals. That would be the second-highest fee pot ever for investment banks working […]
European stocks edged higher; BOE meeting, inflation data due this week
European stock markets edged higher Monday, rebounding after the previous week’s losses, as investors await a deluge of key economic data and a policy-meeting from the Bank of England this week. At 05:20 ET (09:20 GMT), the DAX index in Germany traded 0.1% higher, the CAC 40 in France rose 0.1%, while the FTSE 100 in the U.K. traded largely unchanged. […]
Starboard Value buys $500M stake in Autodesk, urges operational changes – WSJ
Activist investor Starboard Value has acquired a stake of approximately $500 million in design-software manufacturer Autodesk Inc (NASDAQ:ADSK) and is now advocating for changes within the company, according to the Wall Street Journal. Starboard has reportedly held meetings with Autodesk executives in the past few weeks to express their concerns and suggest changes, including enhancing its margins, […]
Equity market implications of UK election manifestos – Goldman
The U.K. general election is drawing nearer, and the main parties have now released their manifestos. Goldman Sachs looks at the equity market implications. The U.K. general election takes place on July 4, with the opposition Labour Party currently leading in the polls by around 20 points, ahead of the ruling Conservatives. Both parties have […]
Microsoft, Apple, and Nvidia in race to hit $4 trillion market cap – Wedbush
Microsoft, Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA) will be in a race over the next year to hit a market capitalization of $4 trillion thanks to surging enthusiasm over the capabilities of artificial intelligence, according to analysts at Wedbush. At the end of trading on Friday, software titan Microsoft (NASDAQ:MSFT)’s market value had stood at $3.29 […]
Citi: US equities upgraded on ‘growth-oriented’ nature
Citi analysts downgraded European equities to neutral and upgraded their stance on the US in their latest global equity strategy note. Citing increased political risks and narrowing market leadership in Europe, they see the US as a more attractive option in the near term due to its “growth-oriented” nature and defensive qualities. “Near-term risks for […]
BofA maintains a Buy rating on Orange despite a 13.7% drop in 2 weeks; Target +38%
The stock of the French telecom operator Orange SA (EPA:ORAN), which is also a component of the CAC 40 index, has not been spared from the drop in French stocks, weighed down by political uncertainty related to the dissolution of the National Assembly. Indeed, the stock lost 7.65% last week, adding to a 6.2% decline the […]
European shares inch up as banks, tech rebound; Topdanmark shines
European shares closed marginally higher on Monday, with banks and technology stocks rebounding from losses last week after markets were startled by political uncertainty in France, while Danish insurer Topdanmark surged on Sampo’s buyout bid. The pan-European STOXX 600 closed up 0.1%, coming off its worst weekly percentage fall so far this year. Banks advanced nearly 1% […]
Permian-focused LandBridge aims to raise up to $319 million in US IPO
LandBridge, a landowner in the oil-rich Permian Basin, said on Monday it was looking to raise up to $319 million in its U.S. initial public offering (IPO) that could give it a potential valuation of up to $1.6 billion. The company, backed by private equity firm Five Point Energy, owns about 220,000 surface acres in […]