tradingideas
The USD/INR exchange rate dived hard on Monday morning ahead of the official Indian election results scheduled on June 4th. The pair slumped to a low of 83, its lowest level since March 20th. It has dropped by 85 basis points from its highest point this year. India election results and RBI decisionThe Indian rupee will be in the spotlight this week as India concludes its election and as the Reserve Bank of India (RBI) delivers its interest rate decision. Exit polls show that Narendra Modi will likely be declared the country’s president for the third term. There are signs that he will reach the...
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Amgen Inc. (NASDAQ:AMGN) has recently been in the news due to its involvement in the promising obesity drug market. Analysts project significant growth in this sector, with Amgen among key players like Novo Nordisk and Eli Lilly. The U.S. FDA has approved Amgen’s Bkemv, the first interchangeable biosimilar for Soliris. This approval is a milestone, as Soliris had substantial sales of $739 million in Q1 2024, showcasing Amgen’s ability to compete in the biosimilars market. Recent financial performance and growth in key productsAmgen’s Q1 2024 earnings report showed a 22% year-on-year revenue in...
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EV giant Tesla Inc. (NASDAQ:TSLA) has faced a fresh setback as the National Highway Traffic Safety Administration announced on Thursday that the company is recalling over 125,000 vehicles due to a malfunction in the seat belt warning system. This news adds to a series of challenges the company has encountered in recent times, including efforts to gain full self-driving approval in China and labor-related issues in Europe. Recall concerns and business challengesThe recall, affecting various Tesla models from 2012 to 2023, underscores the importance of safety compliance in the automotive industr...
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The EUR/USD exchange rate was flat on Friday after a stronger-than-expected European inflation report. It was trading at 1.08500, higher than this month’s low of 1.0600 as focus shifted to the upcoming US inflation data and the European Central Bank (ECB) decision. ECB decision aheadThe EUR/USD will be in the spotlight next week as the ECB concludes its two-day meeting on Thursday. This will be a crucial meeting since the bank has signaled that it will be the start of the rate cutting cycle. Analysts have scaled back their expectations for the number of rate cuts to expect after the June meeti...
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Porsche AG (P911) share price is in deep trouble and the situation could worsen in the coming weeks as its electric vehicle (EV) business slows. The stock crashed to a low of €76 on Monday, its lowest swing since January 26th. It has plunged by over 36% from its highest point on record. Porsche’s China woesPorsche’s stock has imploded as the company has reported weak financial results. Its total sales crashed frm €10.09 billion in Q1’23 to over €9.0 billion in Q1’24. Its battery electric vehicles segment’s revenue tumbled from over €11.4 billion to over €5.7 billion in Q1’24. Porsche’s profits...
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The Brent crude oil price drifted upwards on Monday as investors focused on the upcoming driving season in the United States. It rose for two straight days, moving to the key resistance point at $82.50, higher than last week’s low of $80.60. Driving season aheadThe next crucial catalyst for crude oil price is the US driving season, which starts after the Memorial Holiday weekend. This season is characterised by more driving in the United States and higher demand for gasoline. In some cases, oil prices tend to rise during the driving season, which explains why Joe Biden’s administration has ann...
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Ford Motor Co (NYSE: F) is up roughly 20% versus its year-to-date low but a Bernstein analyst is convinced it has significant room still to the upside. Ford stock could climb to $16Daniel Roeska assumed coverage of the legacy automaker last week with a “buy” rating and said it shares could climb to $16 which translates to about a 33% upside from here. The EV segment of $F known as the “Model e” lost $4.7 billion in 2023. Still, the Bernstein analyst told clients in a recent research note: While electric execution looms large, we see a clear path to significant operating leverage and ultimately...
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The USD to ZiG exchange rate is holding steady as the Zimbabwean government hopes that the currency will maintain its stability in the long term. Official data on the Zimbabwe Central Bank’s website shows that the average of the bid and ask price has moved to 13.22, near its starting point in April. Zimbabwe ZiG is holding steadyThis stability has happened at a time when the government has moved to reassure investors, companies, and international institutions that the currency will hold well. It has ruled out printing money to fund government spending, which was blamed for hyperinflation that ...
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Dating apps are in trouble. Bumble (NASDAQ: BMBL) stock price has collapsed by over 22% in 2024 and by over 86% from its all-time high. Similarly, Match Group (NASDAQ: MTCH) share price is down by almost 20% this year and by over 80% from its all-time high. The two companies have shed over $18 billion and $40 billion in market cap. Match Group stock vs Bumble User growth is slowingBumble and Match Group, the biggest players in the online dating industry, are facing unprecedented challenges as their growth slows. The most recent results showed that Bumble’s revenue rose by just 10% in the first...
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Warner Bros. Discovery (NASDAQ: WBD) stock price remained under intense pressure this month as concerns about the company’s future continued. It closed at $7.73 on Friday, down from its all-time high of $78.11. Its valuation has tumbled to less than $20 billion. Undervalued but riskyIn my last article on Warner Bros. Discovery, I wrote that it was one of the most undervalued media companies in the US. I used a sum-of-parts approach to estimate that the firm was severely cheap. In my estimation, its studios and Max business have a bigger valuation than the whole company. Warner Bros. Discovery ...
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