Investing.com — Mercedes Benz Group AG (ETR:) slashed its earnings outlook on Thursday as the luxury automaker grapples with softer demand amid China-led macroeconomic weakness. The company cut its adjusted return on sales forecast for its Mercedes-Benz (OTC:) Cars unit to range of 7.5% and 8.5%, down from its previous forecast of 10% to 11%. “The downgrade comes amid further deterioration of the macroeconomic environment, mainly in China. GDP growth in China lost further momentum amid weaker consumption as well as the continued downturn in the real estate sector,” Mercedes-Benz said in a statement. The carmaker’s shares fell more than…
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Shares of Shopify (NYSE: SHOP) and Axon Enterprise (NASDAQ: AXON) have moved in opposite directions this year. The former has fallen 4%, while the latter has gained 48%. Both stocks recently had their price targets raised by Wall Street analysts.On Sept. 17, Dominic Ball at Redburn Atlantic upgraded Shopify from neutral to buy and raised his price target to $99 per share. That forecast implies a 32% upside from the company’s current share price of $75.On Sept. 12, Trevor Walsh at JMP Securities raised his price target on Axon Enterprise to $430 per share. That forecast implies a 12% upside…
Last Updated on July 14, 2024 at 12:02 pmOn June 23rd 2024, Moneycontrol reported that SEBI conducted search and seizure operations at two locations of Quant Mutual Fund on suspected front-running.The initial reaction from the AMC: It confirmed via email to investors that it has received inquiries from SEBI.Then, on June 27th 2024, it sent an FAQ to unitholders. The first was, “1. Has the SEBI enquiry concluded? No, it is a regular ongoing process globally by regulators to collect data and analyze it”.Then, on July 13th 2024, it sent another email to unitholders, “This has reference to question 1…
(Bloomberg) — Asian stocks extended a rally in global equities as jobs data backed the view that the US economy is headed for a soft landing. The yen gained as the Bank of Japan left interest rates unchanged.Most Read from BloombergThe MSCI Asia Pacific Index rose as equities in Japan, South Korea and Australia advanced, while mainland Chinese shares slipped. A gauge of global stocks set a fresh peak alongside US shares Thursday.The BOJ kept its monetary policy settings steady Friday, signaling it sees no need to hurry with interest rate hikes as it monitors financial markets after its July…
Indian shares are likely to open higher Friday morning, tracking positive lead from Wall Street and Asian markets. Activity may turn stock specific with investors reacting to some corporate news.Reliance Infrastructure will be in focus following the company’s board approving raising of Rs 3,014 crore through preferential issue of up to 12.56 crore shares and convertible warrants at Rs 240 apiece.NTPC’s board approved an investment of Rs 11,131 crore in the Darlipali Super Thermal Power Project, and Rs 9,790.87 crore in the Sipat Super Thermal Power Project.Adani Group shares will be in focus after the group emerged the frontrunner in…
Murder suspect bonds out of jail A suspect in a 2021 cold case was arrested this week for the stabbing death of a 23-year-old in South Austin. Four days later, he bonded out of jail. The brief A murder suspect in a 2021 cold case was arrested for the stabbing death of a 23-year-old man.The suspect bonded out of jail four days later. AUSTIN, Texas – A suspect in a 2021 cold case was arrested this week for the stabbing death of a 23-year-old in South Austin. Just four days after being booked into jail, he’s now out on bond,…
By Stella QiuSYDNEY (Reuters) -Asian shares extended their rally on Friday, bathing in the afterglow of an outsized interest rate cut in the United States, while the yen edged higher as the Bank of Japan held rates steady and stayed upbeat on the economy.In China, the central bank kept its benchmark lending rates on hold, countering expectations for a move lower. Chinese shares were an outlier in the region, with blue chips down 0.3%. The onshore yuan strengthened to the highest in nearly 16 months, leading to intervention by state banks to prevent it from appreciating too fast.MSCI’s broadest index…
A Japanese flag is displayed as shoppers and pedestrians walk past stores at a shopping street in Tokyo, Japan, on Wednesday, Nov. 23, 2016.Tomohiro Ohsumi | Bloomberg | Getty ImagesAsia-Pacific markets opened higher on Friday with Japan’s Nikkei 225 leading gains, after Wall Street soared overnight following the Federal Reserve’s outsized rate cut.The Bank of Japan kept its benchmark interest rate steady at around 0.25% — the highest rate since 2008 — at the conclusion of a two-day meeting Friday. Japan’s core consumer prices index climbed 2.8% year on year, in line with Reuters estimates, versus a 2.7% rise in the…
Image source: Getty Images I reckon a Stocks and Shares ISA is an excellent investment vehicle to help build wealth. If you’re a regular reader, you might know it’s a bit of a Foolish favourite! Let me explain why I’m a fan, and describe one stock I’d love to buy to help me make the most of my ISA. Why this ISA? There are a few reasons why this particular type of ISA is attractive to me. When it comes to building wealth, dividends are a great way to help me do this. If I buy shares within the ISA,…
Cindy Ord/Getty Images for Yahoo; iStock; Rebecca Zisser/BITom Lee has long called for a stock market rally after the Federal Reserve cuts interest rates.But after Wednesday’s big 50 basis point cut, Lee says he sees uncertainty looming ahead of the election.Other analysts have also warned of volatility leading up to the November vote.Prominent stock market bull Tom Lee has long called for a big rally after the Federal Reserve cuts interest rates.But after a big 50 basis point cut on Wednesday, Lee says he’s feeling cautious ahead of the November election.”This Fed cut cycle I think is setting the stage…