hapabapa ServiceNow’s (NYSE:NOW) stock fell about 3% premarket on Monday after Guggenheim downgraded the shares to Sell from Neutral noting that the second quarter of 2024 is fine, but future risks don’t match valuation. The firm introduced a price target of $640 on the shares of the Santa Clara, Calif.-basedContinue Reading
Joe Raedle/Getty Images News The unemployment rate marked its third consecutive monthly rise in June, and BNP Paribas said another increase may lead it to change its rate-cut projection for this year. The unemployment rate rose to 4.1% in June from 4.0% in May, the Labor Department said Friday. InContinue Reading
Investors’ pessimism about the short-term outlook for the stock market decreased this week, as recent economic data stoked hopes of interest rate cuts. A total of 26.1% of respondents of the American Association of Individual Investors, or AAII Sentiment survey, said they think the market will trend down in theContinue Reading
da-kuk/E+ via Getty Images London (UKX) +0.56% with parliamentary election in focus. Investors will be closely watching how the Labour Party can gather a majority vote, to replace the Conservatives after 14 years. Germany (DAX:IND) +0.23% Germany June construction PMI 39.7 vs 38.5 prior; Germany May industrial orders -1.6% vsContinue Reading
monsitj/iStock via Getty Images Gold futures rallied Wednesday to the highest in nearly a month, as the dollar slumped on renewed hopes for a September interest rate cut by the Federal Reserve following U.S. data suggesting a softening labor market. The U.S. reported first-time applications for unemployment benefits increased lastContinue Reading
MarsBars/E+ via Getty Images U.S. employers announced 48,786 job cuts in June, which was down 23.6% from May, according to the monthly survey from Challenger, Gray & Christmas. But June layoffs were up 19.8% from the year-ago period. Job cuts saw the highest June level since 74,393 announced in 2009Continue Reading
Sunshine Seeds/iStock via Getty Images Sibanye Stillwater (NYSE:SBSW) -0.6% in Tuesday’s trading after saying it cut more than 2K jobs and merge gold and platinum metals operations in South Africa, Dow Jones reports, as the miner moves forward with its planned restructuring to lower costs and raise profitability. Sibanye (SBSW)Continue Reading
Andrii Dodonov Update 2.00PM EST: Adds latest share move and Oppenheimer’s downgrade Cell therapy developer Cartesian Therapeutics (NASDAQ:RNAC) announced Tuesday that its lead asset, Descartes-08, reached the main goal in a mid-stage trial against the muscle disorder myasthenia gravis (MG). In conjunction with the data, the Gaithersburg, Maryland-based biotech announcedContinue Reading
Chicago Federal Reserve President Austan Goolsbee said policymakers should cut interest rates if U.S. inflation continues to fall back to the 2% target, reported Bloomberg News on Tuesday. According to the report, Goolsbee, while speaking on Bloomberg TV in Sintra, Portugal, said he feels “we are on a path toContinue Reading
Pgiam/iStock via Getty Images Shares of Incyte (NASDAQ:INCY) traded lower on Tuesday after BMO Capital Markets downgraded the drugmaker to underperform from market perform, citing the potential consequences of the company’s recently announced $2B share buybacks. The transaction targeted for up to $1.672B worth of Incyte’s (INCY) common stock “appearsContinue Reading
