US Supreme Court to hear Nvidia bid to scuttle shareholder lawsuit
The U.S. Supreme Court agreed on Monday to hear a bid by Nvidia (NASDAQ:NVDA) to scuttle a securities fraud lawsuit accusing the artificial intelligence chipmaker of misleading investors about how much of its sales went to the volatile cryptocurrency industry. The justices took up Nvidia’s appeal made after a lower court revived a proposed class […]
Adidas shares fall on investigation into China corruption allegation
Adidas (OTC:ADDYY) shares dropped 4% on Monday after the German sportswear brand said it was investigating allegations of corruption in China after receiving an anonymous letter. “Adidas takes allegations of possible compliance violations very seriously and is clearly committed to complying with legal and internal regulations and ethical standards in all markets where we operate,” […]
How the market reacted when Trump won in 2016
Analysts explained in a note this week that when Donald Trump won the 2016 U.S. presidential election, the overall market response was muted, but significant sector-specific moves occurred. The investment firm said financials, especially banks and insurance companies, led the way with substantial gains. Sallie Mae rose 37%, and Freddie Mac surged 97% within seven […]
Morning Bid: Bracing for Chinese data deluge
A look at the day ahead in Asian markets. The monthly Chinese ‘data dump’ kicks off the global trading week on Monday, with the slew of top-tier indicators likely to give investors a measure of how much the world’s second largest economy is struggling to gain momentum. Producer and consumer prices last week confirmed that […]
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% […]
Retail stocks search for direction as rates stay high
Elevated U.S. interest rates are pressuring the U.S. retail sector, where shares of many companies have been dented by months of tight monetary policy while a select few have soared. The S&P 500 Consumer Discretionary Distribution & Retail index is up nearly 14% this year, roughly keeping pace with the S&P 500’s year-to-date gain. Much of the […]
Cruise stocks fall as BofA sees modest softness in prices
Cruise line stocks Royal Caribbean (NYSE:RCL), Carnival Corp. (NYSE:CCL), Norwegian Cruise Line (NYSE:NCLH), and Viking Holdings (VIK) declined Friday after Bank of America analysts said in a note that they see modest softness cruise prices. RCL declined more than 5%, while CCL is down over 8%. In addition, NCLH has dropped over 7%, and VIK has fallen […]
Tempus AI Prices 11.1M Share IPO at $37/sh
Tempus AI, Inc. (TEM) today announced the pricing of its initial public offering of 11,100,000 shares of its Class A common stock at a public offering price of $37.00 per share. All of the shares of Class A common stock are being offered by Tempus. The gross proceeds to Tempus from the offering, before deducting […]
MercadoLibre’s fintech arm sees credit-card reader boom in Mexico
Latin American e-commerce giant MercadoLibre (NASDAQ:MELI)’s fintech arm, Mercado Pago, has seen adoption of its slim mobile credit-card readers more than double in the past year, gaining on competing options from banks and Clip, an executive said. In Mexico, cash is still king – and as Latin America’s No. 2 economy, it still lags far behind Brazil […]
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 […]