NorthAmerica
FedEx Corp (NYSE: FDX) is gaining sharply in extended hours on Tuesday after coming in ahead of Street estimates for its fourth financial quarter. Shares of the package delivery company are now trading at a year-to-date high. FedEx stock rallies on impressive guidanceFedEx stock is in the green in after-hours also because its management issued upbeat guidance for the future. The multinational now forecasts its per-share earnings to fall between $20 and $22. Analysts, in comparison, were at $20.85. Raj Subramaniam – the chief executive of FedEx said in a press release today: Q4 results reflect ...
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Rivian Automotive Inc (NASDAQ: RIVN) has already gained some 40% since its year-to-date low but a Guggenheim analyst is convinced it’s not too late to invest in it yet. Shares of the EV firm are still down about 45% versus the start of 2024. Rivian stock could climb to $18Ronald Jewsikow assumed coverage of the electric vehicles company this morning with a “buy” rating. His $18 price objective suggests more than a 50% upside from here. The analyst is bullish on Rivian stock as he expects the R2/R3 optimism to serve as a catalyst moving forward. His research note reads: We see a credible path t...
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United States consumers are less confident on the current state of the economy, according to the latest Consumer Confidence Index reading, released by The Conference Board (CB) today. According to the CB, the Consumer Confidence Index fell to 100.4 in June, declining from 101.3 in May (revised downwards from an initial reading of 102.00). Confident in the present, anxious about the futureWhile Americans’ sentiment on the economic environment right now improved, they were more pessimistic on what would happen in the future. The CB data showed that its Present Situation Index (based on consumers...
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Bitcoin has dropped back to the $60,000 level this week but Anthony Pompliano remains bullish as ever on the world’s largest cryptocurrency by market cap. Anthony Pompliano is the founder of Pomp Investments. Pompliano is bullish on both BTC and AIPompliano continues to see Bitcoin as well as artificial intelligence as a “10-year trend” with “massive tailwinds”. The potential strength in both those markets bodes well for Bitbot – an AI-enabled Telegram trading bot that you can use to maximise your profits out of a financial market. Let’s take a closer look at what Bitbot is and how may Pomplia...
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Enovix Corp (NASDAQ: ENVX) opened about 20% up on Tuesday after signing an agreement to provide silicon batteries for a mixed-reality headset. Shares of the battery manufacturer are now trading at a year-to-date high. Who did Enovix teamed up with on mixed-reality headsets?Enovix has inked an agreement with a top California-based technology company. It did not, however, reveal the name of the firm it has teamed up with on mixed-reality headset in a press release today. The Nasdaq-listed firm will immediately receive a one-time payment for “tooling to support battery pack dimensions”. Subsequen...
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Carnival Corp (NYSE: CCL) is trading up in premarket on Tuesday after reporting market-beating financial results for its second quarter. Carnival stock does not currently pay a dividend. Carnival stock gains on upbeat guidanceThe stock is being rewarded also because CCL issued encouraging guidance for the future. Carnival now forecasts its adjusted net income to print at $275 million this year – up more than %. Carnival also expects net yields to come in at 10.25% in fiscal 2024. Josh Weinstein – its chief executive said in a press release today: On our upwardly revised guidance, we will be on...
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Regis Corp (NASDAQ: RGS) has entered into a “new senior secured credit facility” with the global asset manager TCW Asset Management Company LLC and Midcap Financial Trust. Its shares are up well over 100% on Tuesday. Why does it matter for Regis stock?A $105 million term loan, the company’s press release added, will replace its existing debt and will help lower its outstanding indebtedness by over $80 million. Regis Corp will also get to save roughly $7.0 million in annual cash interest as well on the back of today’s announcement. According to Matthew Doctor – its chief executive officer: This...
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Amazon.com Inc (NASDAQ: AMZN) is in focus today following a report that it’s working on a new AI chatbot that will compete with the world renowned ChatGPT. Shares of the tech titan are currently up some 25% versus their year-to-date low. What we know about ‘Metis’ so farAndy Jassy – the chief executive of AMZN is personally overseeing the strategic project that the multinational has codenamed “Metis”, as per a source that talked to Business Insider on condition of anonymity on Monday. Metis will reportedly be more powerful than Amazon’s existing Titan foundation model. The new artificial intel...
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Affirm Holdings Inc (NASDAQ: AFRM) gained more than 10% on Monday after a Goldman Sachs analyst issued a super bullish note in its favour. Shares of the buy now, pay later company are still over 30% for the year. Affirm stock could climb to $42Will Nance initiated coverage of Affirm Holdings today with a “buy” rating. His $42 price objective suggests a 40% upside on its previous close. The analyst is constructive on AFRM shares as he expects “strong growth rates to support its premium valuation in the intermediate term”. Affirm stock, he added, is well-positioned to capitalise on continued gro...
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Famed investor Jim Cramer is not all that excited about United Parcel Service Inc (NYSE: UPS) opting to sell its Coyote Logistics business to RXO Inc (NYSE: RXO). Shares of both companies are still up significantly on Monday. Here’s why Cramer is dovish on UPS stockUPS bought Coyote Logistics for about $1.8 billion in 2015. But it’s unloading it to RXO now for $1.03 billion only, as per a press release this morning. The price of the deal announced today did not sit well with the Mad Money host who said on CNBC’s “Squawk on the Street” today: It’s good to see them have some cash in, but you don...
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