The latest market news & Insights
NVIDIA Shares Decline as Pledge to OpenAI Investment Undergoes Scrutiny
NVIDIA shares fell early Monday as investors considered the company’s plan to make a large investment in OpenAI, the maker of ChatGPT. The stock dropped 2.3% to $186.81 in morning trading. Focus has shifted to the relationship between Nvidia and OpenAI after a report on Friday said talks for Nvidia to invest up to $100 […]
Market Insights
Coinbase Shares Drop 10% on Downgrade
Ticker Symbol: COIN, XBT Shares of cryptocurrency exchange and trading firm Coinbase Global were down over 10% this morning after the company was downgraded from a neutral to a sell-by analysts at investment bank Goldman Sachs. The price of bitcoin, the main underlying cryptocurrency traded on Coinbase’s platforms, was also lower by close to 3% […]
Zendesk Shares are Up Almost 30%, Here’s Why
Ticker Symbol: ZEN Zendesk shares are surging by nearly 30% in the morning trading session as the company announced an agreement to be acquired by buyout firms for $9.5 billion, in an all-cash transaction. The agreed deal would imply a 34% premium to Zendesk’s closing price on Thursday, or an acquisition price of $77.50 a […]
Revlon Shares are Up Over 50% As Retail Traders Look for Quick Profit
Ticker Symbol: REV Revlon shares are up 50% in the morning trading session after jumping 91% on Friday and a further 62% on Tuesday. The shares in the beleaguered company were last trading at $9.42 per share, or roughly 700% above the low share price of $1.17 that hit on June 13th, after the company […]
Kellogg Shares Pop on Plan to Split Into 3 Different Businesses
Ticker Symbol: K Food giant Kellogg said in a filing today that the company plans to split into three independent and separate companies to generate better shareholder returns. The conglomerate, known globally as a powerhouse in the cereals business, saw its shares trade up 2.5% in the morning trading session on the news. Chief Executive […]
Fed Raises Key Rate by 75 Basis Points, the Largest Increase Since 1994
The U.S. Federal Open Market Committee (FOMC) raised its key policy rate by three quarters of a percentage on June 15th to battle higher inflation. In its third interest rate hike since the start of the COVID pandemic, the Federal Reserve (the Fed) increased the Federal Funds Target rate to an upper bound of 1.75%. […]
FedEx Shares Surge on Dividend Raise and Board Changes
Ticker Symbol: FDX FedEx shares are up 15% in midday trading after the company announced a 53% increase in its’ quarterly dividend, added two independent directors to its’ board and added total shareholder return as a key performance metric to its’ executive compensation package. The changes were brought on after the company was involved in […]
U.S. Inflation Hits Fresh 40 Year High
Inflation in the United States, as measured by the Consumer Price Index (CPI), advanced 8.6% from the May period from the year earlier. This was a new high after March’s reading of 8.5%. The number was more than analysts’ forecasts for the headline number to come in at 8.3%. Worryingly, core inflation, which is the […]
European Central Bank to Raise Rates for the First Time in Eleven Years
The European Central Bank (ECB) said today that the central bank for the eurozone region would raise reference interest rates by 25 basis points in July and signaled that there could be bigger rate hikes in the second half of the year. This is the first-rate hike that the ECB has undertaken since 2011. After […]
Exxon Shares Jump to All Time High as Oil Continues to Climb
Ticker Symbol: XOM Exxon shares jumped to an all-time high in morning trading as oil prices continued to rise due to a tight market. The company’s stock is up around 73% on a year-to-date basis as West Texas Crude Oil is up 59% in the same period, while Brent Crude is up 56%. Exxon is […]
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