Tech investors are shifting focus from semiconductor stocks to software, driven by concerns over high valuations and trade war risks under the incoming Trump administration. The President-elect's plans for additional tariffs have further dampened sentiment in the chip sector, while software benefits from lower tariff exposure and the growing influence of artificial intelligence in services.
Dick’s Sporting Goods raised its fiscal 2024 guidance following a strong back-to-school season, expecting same-store sales growth of 3.6% to 4.2%. The company reported Q3 earnings of $2.75 per share on revenue of $3.06 billion, surpassing analyst expectations. With robust performance, Dick’s anticipates full-year sales between $13.2 billion and $13.3 billion and earnings per share of $13.65 to $13.95.
Oldenburg is grappling with financial challenges, as even record revenues are insufficient to meet the demands of rising expenditures. The city is urged to reconsider its budgetary strategies to address these ongoing fiscal pressures.
Aikido Technologies Inc. has successfully completed its first floating platform for offshore wind turbines off the coast of Mississippi, enabling deployment further from land where wind conditions are more favorable. Despite federal backing, the company is looking overseas for market opportunities due to challenging domestic economics and political opposition to offshore wind.
Dogecoin (DOGE) has shown bullish momentum, breaking resistance levels at $0.18 and $0.20, reaching a high of $0.478 before retreating. Currently priced at $0.428, it faces resistance at $0.45, with potential to rise to $0.60 if this barrier is surpassed, despite recent overbought conditions.
Gold prices are under scrutiny as the Fed minutes are set to be released, with tariffs proposed by Donald Trump on imports from Mexico, Canada, and China stirring concerns of a trade war. Investors are keenly awaiting US price data, which may signal future inflation trends and influence monetary policy decisions. The upcoming Fed meeting on December 18 could lead to a potential interest rate cut, while the trading range for gold is expected to remain between USD 2,540 and USD 2,800 amidst ongoing profit-taking.
IG
12:58 26.11.2024
UBS is moving to acquire full control of its securities joint venture in China, currently holding 67% while partner BSAM plans to auction its 33% stake. This follows UBS's recent strategic shift, where it reduced its stake in CS Securities, exiting a majority position.
12:55 26.11.2024
UBS has raised its price target for Tesla to $226 from $197 while maintaining a Sell rating. The stock has surged 40% since the U.S. election, adding over $350M in market cap, but UBS cautions that the removal of EV consumer tax credits could negatively impact demand. Despite improvements in Full Self-Driving technology, the firm believes it is not yet ready for widespread robotaxi deployment, attributing the stock's rise mainly to momentum.
12:55 26.11.2024
VinFast Auto Ltd. reported a narrowed net loss of 13.25 trillion dong ($521.3 million) in the third quarter, marking a 14.8% decrease from the previous year. The improvement in financial performance is attributed to a significant increase in electric vehicle sales.
Banco BPM has rejected UniCredit's unexpected €10 billion ($10.5 billion) takeover offer, stating it does not reflect its profitability or potential for growth. The board expressed concerns over the rapid timeline of a merger, which could undermine the bank's legal autonomy and expansion plans, particularly in Germany. UniCredit's CEO emphasized the need for larger banks in Europe to enhance economic competitiveness, while the Italian government has shown mixed reactions to UniCredit's ambitions.
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