Palantir surged 16% on Tuesday after it reported its first profitable quarter on record.The company reported earnings results that topped analyst estimates and talked up its potential in artificial intelligence.”With this result, Palantir is profitable. This is a significant moment for us,” CEO Alex Karp said. Loading Something is loading. Thanks for signing up! Access… Continue reading Palantir soars 16% after it reports first profitable quarter and talks up artificial intelligence potential
Adani’s billionaire founder is reportedly looking at governance changes following scathing short-seller report that sent the Indian conglomerate’s stock plunging
Indian industrialist Gautam Adani is working on improving oversight of his conglomerate, the Financial Times reported. He’s considering changes after allegations by a short seller sent Adani Group stocks plummeting. The Adani Group founder called the slide in Adani Enterprises shares “temporary”. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Adani’s billionaire founder is reportedly looking at governance changes following scathing short-seller report that sent the Indian conglomerate’s stock plunging
A biotech company that once claimed to have a ‘cure’ for COVID-19 just filed for bankruptcy, sending shares plunging 59%
Sorrento Therapeutics plunged as much as 61% on Monday after the biotech company filed for bankruptcy. The company made headlines in 2020 after its founder claimed Sorrento discovered a COVID-19 “cure.” Sorrento surged 243% in a day after the exec’s comments, and later landed in the crosshairs of shortseller Hindenburg. Loading Something is loading. Thanks… Continue reading A biotech company that once claimed to have a ‘cure’ for COVID-19 just filed for bankruptcy, sending shares plunging 59%
Your best indicator for where the stock market is going in 2023 is the 2-year Treasury yield, Mohamed El-Erian says
The best indicator is to watch the two-year Treasury yield this year for market insights, according to Mohamed El-Erian. “That’s the market indicator that has the most information,” he told CNBC. He added that the disinflation story “is more complex than we’d like it to be.” Loading Something is loading. Thanks for signing up! Access… Continue reading Your best indicator for where the stock market is going in 2023 is the 2-year Treasury yield, Mohamed El-Erian says
Chinese spy balloon and wave of UFOs lift defense stocks as US military spots more aerial incursions
Defense stocks are all in the green since the downing of a Chinese spy balloon. Over the weekend, the US also brought down three UFOs that crossed into North American airspace. Despite the current gains, the debt ceiling debate may limit defense spending. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading Chinese spy balloon and wave of UFOs lift defense stocks as US military spots more aerial incursions
The stock market’s risk-reward is as bad as it’s been during this bear market as the Fed keeps hiking into an earnings recession, Morgan Stanley says
The stock market’s current risk/reward profile is as bad as it has ever been in this bear market, according to Morgan Stanley’s Mike Wilson.Wilson warned that the Fed is still hiking interest rates despite deteriorating fundamentals.”Price is about as disconnected from reality as it’s been during this bear market,” Wilson said. Loading Something is loading.… Continue reading The stock market’s risk-reward is as bad as it’s been during this bear market as the Fed keeps hiking into an earnings recession, Morgan Stanley says
China is ramping up Russian oil imports and Beijing could greenlight even more volumes
China’s state-run refiners have been increasing purchases of Russian oil, and Beijing could give them the greenlight to ramp up further, according to Energy Aspects. Analysts said Chinese companies have been waiting for clear direction from Beijing on how much Russian oil to buy. China could see its daily Russian oil imports increase by 500,000… Continue reading China is ramping up Russian oil imports and Beijing could greenlight even more volumes
Here’s what needs to happen for one of Wall Street’s biggest bears to flip bullish and be won over by the stock market
Bank of America’s Michael Hartnett has been one of Wall Street’s biggest bears over the past year.But in a Friday note, Hartnett outlined potential factors that could flip him from bearish to bullish.While Hartnett’s not holding his breath, here’s what he needs to see to turn bullish on stocks. Loading Something is loading. Thanks for… Continue reading Here’s what needs to happen for one of Wall Street’s biggest bears to flip bullish and be won over by the stock market
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