TipsForTraders

Wall St edges up with earnings, rate-cut expectations in focus

reuters | February 6, 2024

By Johann M Cherian and Ankika Biswas (Reuters) – Wall Street’s main indexes inched higher on Tuesday as investors parsed big-ticket earnings and awaited commentary from policymakers for clues on the timing of the Federal Reserve’s first interest-rate cut. Eli Lilly jumped 3.5% after forecasting 2024 profit above estimates, driven by demand for its blockbuster…

Lilly expects strong 2024 profit on rising weight-loss drug demand

reuters | February 6, 2024

By Patrick Wingrove and Bhanvi Satija (Reuters) -Eli Lilly on Tuesday forecast 2024 profit above Wall Street estimates on soaring demand for its recently approved weight-loss drug, and said the treatment helped reduce symptoms of a common, difficult to treat fatty liver disease in a mid-stage trial. The company said it expects 2024 revenue of…

Wall Street equities fall with interest rates, earnings in focus

reuters | February 6, 2024

By Sinéad Carew and Johann M Cherian (Reuters) -Wall Street’s main indexes closed lower on Monday after Federal Reserve Chair Jerome Powell pushed back firmly against speculation that rate cuts would be imminent, while investors assessed a mixed bag of U.S. earnings reports. In an interview aired on Sunday, Powell said more evidence on a…

Nvidia eyes fresh record as Goldman Sachs bullish on AI prospects

reuters | February 5, 2024

(Reuters) – Nvidia’s shares were set to scale a new peak on Monday after Goldman Sachs raised its price target for the high-flying chipmaker’s stock in anticipation of a major boost to its earnings from the artificial intelligence (AI) boom. The stock rose 3.4% to $683.80 in premarket trading and looked set to add about…

AbbVie raises 2027 sales forecast for new immunology drugs to $27 billion

reuters | February 2, 2024

By Leroy Leo and Patrick Wingrove (Reuters) -AbbVie on Friday raised its 2027 forecast for sales of its immunology drugs Skyrizi and Rinvoq to $27 billion, up $6 billion from its previous prediction. The Chicago-based drugmaker has been counting on revenues from its newer immunology medicines to help make up for declining sales of blockbuster…

Musk seeks Tesla shareholder vote on moving incorporation to Texas

reuters | February 1, 2024

By Shubham Kalia, Maria Ponnezhath and Samrhitha A (Reuters) – Tesla CEO Elon Musk said on Thursday the company will hold a shareholder vote to transfer its state of incorporation to Texas from Delaware, days after a judge invalidated his $56 billion pay package at the electric vehicle (EV) maker. On Tuesday, Delaware judge Kathaleen…

Activist investor Elliott gains board seat at Etsy

reuters | February 1, 2024

(Reuters) -Etsy (NASDAQ: ETSY) on Thursday appointed Elliott Investment Management portfolio manager Marc Steinberg to its board, effective Feb. 5, the two sides said in a release. Elliott, one of the world’s most prominent investors, has a 13% economic stake in Etsy, including both common shares and swaps, a person familiar with the matter said,…

Volvo Cars sees ‘tremendous growth’ in EVs, CEO says

reuters | January 17, 2024

By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) -Volvo Cars remains confident of “tremendous growth” in the electric vehicles market, CEO Jim Rowan told the Reuters Global Markets Forum in Davos on Wednesday, countering gloomier projections from rivals. The carmaker, which aims for electric vehicles (EVs) to contribute half its sales volume by mid-decade…

Rivian signs agreements with Georgia to start building EV factory (Nov 13)

reuters | November 14, 2023

(Reuters) – (This Nov. 13 story has been corrected throughout to remove the reference to Rivian’s plans to raise nearly $15 bln in debt for an EV plant in Georgia and instead to say that the company has signed an agreement with the state that will allow it to start building a planned EV factory)…

Silvergate’s deepening crisis jolts crypto stocks

reuters | March 6, 2023

By Manya Saini (Reuters) – Shares of Silvergate Capital Corp fell 10% in early trading on Monday after the bank suspended its crypto payments network and expressed doubts over the viability of its business. The crypto-focused bank said late on Friday that it had made a “risk-based decision” to discontinue the Silvergate Exchange Network (SEN)…

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