Company News for Jul 3, 2024

Zacks Equity Research

3 July 2024 at 9:24 am

Shares of Tesla, Inc. TSLA soared 10.2% on reporting a lower-than-expected drop in vehicle deliveries for second-quarter 2024.
Shares of Apple Inc. AAPL rose 1.6% on the continued mega-cap growth stock rally.
iQIYI, Inc.’s IQ shares rose 1.4% on consumer discretionaries scoring a winning session.
Shares of AbbVie Inc. ABBV fell 2.6% on the healthcare sector losing out on the day.

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Zacks Investment Research

The Telegraph
‘I’ve lost my job and my house, but my wife and I are worth £650m – how can we pay less tax?’
Rishi Sunak, 44, finds himself in a bind. After a highly successful career in the City of London, followed by a brief but eventful spell in politics, he has suffered a serious demotion and been evicted from his home.
Malay Mail
A-G’s report: Mara Inc’s inefficient operations lead to RM286m loss
KUALA LUMPUR, July 4 — Government-linked Mara Inc has incurred RM286.30 million in losses due to inefficient business op...
Yahoo Finance Video
Nvidia downgraded to Neutral by New Street Research
New Street Research analysts downgrade chipmaker Nvidia (NVDA) to a Neutral rating. Yahoo Finance Head of News Myles Udland joins the Market Domination team to discuss the analyst call. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.
CoinDesk
Bitcoin Plunges Under $59K as Crypto Bulls See $230M Liquidations
Solana’s SOL and dogecoin (DOGE) lead losses among major tokens, with the CoinDesk 20 index down 4.8%.
Zacks
Should Investors Buy Stock in These Payroll Processers After Friday's Jobs Report?
Let's see if it's time to buy Automatic Data Processing (ADP) or Paychex's (PAYX) stock with Friday's jobs report showing US employers added 206,000 jobs in June which beat most analysts' expectations.
CoinDesk
U.S. Added 206K Jobs in June as Unemployment Rate Rose to Highest Since November 2021
Before this morning's jobs report, market participants put nearly 70% probability of lower rates in September, according to the CME FedWatch Tool.
Zacks
The Zacks Analyst Blog Highlights Tesla, Rivian, NIO, Li Auto and XPeng
Tesla, Rivian, NIO, Li Auto and XPeng are included in this Analyst Blog.
Zacks
Shell (SHEL) Hits Pause on Major Biofuels Plant in Europe
Shell (SHEL) remains committed to achieving its net-zero emissions target by 2050 despite abandoning several renewable projects to focus on its more profitable ventures, primarily in oil and gas.
CoinDesk
Crypto Bulls Rack up $580M Liquidations as Bitcoin Drops 8%, Ether, Solana, Dogecoin Plunge
Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.
Zacks
Assessing SMART Global (SGH) Stock Ahead of Its Q3 Earnings
SMART Global's (SGH) third-quarter fiscal 2024 results are likely to reflect strength across Penguin solutions amid macro headwinds.
PA Media: UK News
Amazon at 30: From online bookseller to two-trillion-dollar tech giant
The Jeff Bezos-founded firm was created in a garage in July 1994.
Yahoo Finance UK
FTSE 100 dips, Europe mixed and Wall Street holds near record high as Labour wins UK general election
Labour won 410 seats to the incumbent Tory government's 119, with prime minister Rishi Sunak conceding defeat.
Zacks
SAP Stock Surges 31.4% Year to Date: Will the Momentum Last?
SAP's performance is driven by continued strength in its cloud business. However, global macroeconomic weakness and tough competition in the cloud space remain concerns.
Zacks
4 Bitcoin Stocks to Boost Your Portfolio Before the Next Rally
Stocks like NVIDIA Corporation (NVDA), Robinhood Markets, Inc. (HOOD), Interactive Brokers Group, Inc. (IBKR) and Coinbase Global, Inc. (COIN) are likely to benefit once the Bitcoin rally resumes.
Zacks
Zacks Investment Ideas feature highlights: Amazon, Apple, Alphabet and Nvidia
Amazon, Apple, Alphabet and Nvidia have been highlighted in this Investment Ideas article.
AFP News
London stocks, pound climb as Britons vote
London's stock market and the pound advanced versus the dollar Thursday as Britons voted in a general election expected to be won by the centre-left and main opposition Labour party."Today's UK election looks unlikely to cause too many shockwaves given just how resounding the Labour party victory is expected to be, with markets feeling optimistic over the potential change at Downing Street," said Scope Markets analyst Joshua Mahony.
The Telegraph
How Britain’s wealthiest savers are preparing for a Labour government
As the prospect of a Labour “forever government” looms large following today’s election results, Britain’s most affluent savers and investors are busy making the most of tax reliefs while they still can.
The Telegraph
US market exceptionalism is approaching its dramatic denouement
The investment focus naturally shifts to the US on Independence Day but more so than ever this year as the completion of elections here on Thursday and in France at the weekend moves the political spotlight across the Atlantic too.
The Telegraph
How to shield your savings from a Labour tax raid
With Keir Starmer in power, savers must act now to protect their wealth from the new Labour government.
Associated Press
Japan's Nikkei 225 index hits a record high close of 40,913.65
Japan’s Nikkei 225 stock index closed Thursday at a fresh record high of 40,913.65, pushing past its most recent record close set in March on heavy buying of automaker and technology shares. The index's all-time high during intraday trading is 41,087.75, set on March 22. The gains tracked an overnight rally on Wall Street, where the S&P 500 and tech-heavy Nasdaq also hit fresh records.

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