UBS Group recommends that investors allocate excess cash into quality fixed income as the rate-cutting cycle diminishes cash returns. Solita Marcelli, chief investment officer Americas, highlights investment-grade bonds as Attractive and suggests exploring diversified fixed income strategies for enhanced portfolio income.
17:33 22.10.2024
Bank of America Corp. is entering the US investment-grade bond market with an 11-year bond sale following strong earnings that exceeded analysts' expectations. The self-led offering is expected to yield approximately 1.55 percentage points above Treasuries and is callable after 10 years.
Northvolt AB, the Swedish battery manufacturer, has announced layoffs exceeding 1,200 employees following the conclusion of union negotiations. The IF Metall union confirmed that over 800 members will be affected at the Northvolt Ett plant, part of a broader plan to reduce approximately 1,000 jobs. Additionally, around 400 white-collar workers will also be let go.
GE Healthcare has launched an AI Innovation Lab to expedite early-stage AI projects, including tools for predicting cancer recurrence and automating medical image interpretation. Among the initiatives is a tool for analyzing fetal heart rate, which is closer to market clearance. The lab aims to enhance decision-making in healthcare by leveraging deep learning and foundational models, with a focus on integrating diverse medical data for improved patient care.
Lone Pine Capital rebounded in the third quarter, with its long-short fund, Lone Cypress, gaining 5% and its long-only fund, Lone Cascade, rising 8%, bringing year-to-date increases to 23% and 25%, respectively. Despite these gains, the firm, founded by Stephen Mandel Jr., remains below its high-water mark due to a modified fee structure that allows partial performance fees while waiting for full recovery of losses. Currently managing about $17 billion, Lone Pine's portfolio focuses on major tech stocks and beneficiaries of artificial intelligence.
Nirmal Bang has identified key stock picks for Samvat 2081, including Archean Chemicals, which anticipates a 16% topline growth from FY24-27 despite a bromine slowdown. Fineotex Chemical plans a 40K MTPA capacity expansion, while Five Star Business Finance targets the underserved business loan market with a robust growth model. Garware Hi-Tech Films is set to benefit from the premium vehicle market, with a strong recommendation to 'BUY' and a target price of Rs 4,848, indicating a 20% upside.
Tether CEO Paolo Ardoino will speak at the DC Fintech Week conference in Washington, D.C., discussing stablecoins and regulation. Tether's USDT, the largest stablecoin, holds a 71% market share of U.S. dollar-backed stablecoins, despite facing criticism over transparency and alleged criminal use. As stablecoins gain institutional importance, the U.S. lags in regulatory clarity, while Europe's Markets in Crypto-Assets regulation is set to take effect by year-end, potentially impacting Tether significantly.
Lithium, essential for the green energy transition, faces a potential supply crunch despite a recent price drop due to surplus. Demand is projected to surge nearly ninefold over the next 15 years if global efforts align with the Paris Agreement goals for climate change mitigation.
Vistra Corp., an integrated retail and power generation company, operates across six segments: Retail, Texas, East, West, Sunset, and Asset Closure. With an installed generation capacity of approximately 41,000 megawatts, it engages in electricity and natural gas sales, power generation, and decommissioning activities. The company has received a Buy rating from UBS.
17:15 22.10.2024
Vistra Corp. operates as an integrated retail and power generation company across six segments: Retail, Texas, East, West, Sunset, and Asset Closure. With an installed generating capacity of approximately 41,000 megawatts, it engages in retail electricity and natural gas sales, power generation, and decommissioning activities. The East and West segments focus on various regional power markets, while the Sunset segment addresses announced plant retirements.
17:15 22.10.2024
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