Author: Multibagger News

As the Japanese yen experienced a significant jump on Thursday, traders speculated that it was a result of dollar selling triggered by disappointing U.S. consumer inflation figures rather than intervention by Tokyo authorities. The dollar plummeted by 2.1% to 158.3 yen, with the yen strengthening against various currencies, including a 1.2% drop in the euro to 173.26 yen. Expert Analysis on the Yen’s Surge: Kenneth Broux, Head of Corporate Research FX and Rates at Societe Generale: Broux dismissed the idea of intervention as the cause of the yen’s rise, attributing it to stops being triggered by the U.S. CPI data.…

Title: Oil Prices Rise on Signs of Cooling U.S. Inflation and Decrease in Inventories – Analysis by Top Investment Manager Investing.com– Oil prices saw a slight increase on Thursday, continuing their recent upward trend due to indications of decreasing U.S. inflation and a drop in U.S. inventories. At 09:10 ET (13:10 GMT), the price of crude oil rose by 0.3% to $85.37 a barrel, while Brent oil rose by 0.4% to $82.42 a barrel. US CPI data for June showed a slowdown to 3.0% on an annual basis, with the monthly figure actually falling by 0.1%. This suggests a decrease…

Delta Air Lines’ Q3 Profit Forecast Falls Short Amid Market Discounts and Paris Booking Slump By Rajesh Kumar Singh (Multibagger) – Delta Air Lines (NYSE: DAL) has projected a lower-than-anticipated profit for the third quarter, primarily due to discount pressures in the budget travel segment, which have weakened its pricing power. As a result, Delta’s shares plummeted 9% in pre-market trading on Thursday. The Atlanta-based airline revealed that transatlantic bookings took a hit as travelers are steering clear of Paris, influenced by the upcoming Olympic Games this summer. Key Financial Metrics: Delta’s Current Share Price: $42.70 Competitors’ Share Movements: United…

Unprecedented Drop in US Consumer Prices Signals Fed Rate Cut Imminent In a surprising turn of events, US consumer prices have unexpectedly fallen, marking the smallest annual increase in a year. This development has reinforced the belief that the disinflation trend is gaining momentum, bringing the Federal Reserve one step closer to cutting interest rates. According to the Labor Department’s Bureau of Labor Statistics, the consumer price index dropped by 0.1% last month, following a flat reading in May. This consecutive month of subdued CPI readings is likely to boost confidence among Fed officials that inflation is indeed cooling down.…

In a recent interview with Newsweek during the NATO summit in Washington, Turkish President Tayyip Erdogan accused U.S. President Joe Biden and his administration of being complicit in Israeli war crimes and violations of international law in the Gaza conflict. Erdogan called for sanctions against Israel, citing the country’s “brutal murder” of civilians and attacks on hospitals and aid centers as war crimes. Despite Erdogan’s claims, Israel has consistently denied allegations of war crimes, stating that its actions are in response to attacks by the Palestinian militant group Hamas. The conflict has resulted in the deaths of over 38,000 Palestinians,…

Singapore, Singapore, July 11th, 2024, Chainwire Saakuru Labs, the trailblazer in Web3 gaming and infrastructure, has achieved a significant milestone by reaching 5 million daily transactions. This achievement cements its position as a key player in the Web3 gaming industry, standing shoulder to shoulder with established platforms. Not only has Saakuru surpassed 5 million daily transactions, but it also ranks among the top 5 blockchain networks in terms of daily transactions, as reported by dApp Radar. Additionally, it holds a spot in the top 5 based on daily active user wallets (UAW), showcasing its growing popularity among Web3 gamers. Recent…

NovaBay Pharmaceuticals Reports 9% Increase in Eyecare Segment Revenue – InvestingPro Analysis NovaBay Pharmaceuticals, Inc. (NYSE American: NBY) has announced a 9% rise in net revenue for its eyecare segment in the second quarter and first half of 2024, compared to the same periods in 2023. The company’s preliminary net revenue for the second quarter is $2.4 million, and $5.0 million for the half-year, with expectations for full-year revenue to reach $10 million. The growth is primarily driven by increased sales of Avenova-branded products through online channels like Amazon and Avenova.com. NovaBay’s CEO, Justin Hall, credits the company’s digital marketing…

Discover why the Japanese yen jumped more than 2% against the dollar following a weak US consumer inflation report. Learn why experts believe this move was not due to official intervention and how it could impact global markets. Key Points: The Japanese yen strengthened over 2% against the dollar after US consumer inflation data. Market analysts believe the move was driven by options-related activity, not intervention. The euro also fell around 1.2% against the yen amid market volatility. Analysis: The sharp increase in the Japanese yen against the US dollar highlights the impact of economic data on currency markets. While…

Conagra Brands Faces Financial Headwinds: Revenue Misses & Profit Forecast Below Estimates (Multibagger) – Conagra Brands (NYSE: CAG), a major player in the packaged food industry, has just released a financial forecast that has sent shockwaves through the market. The company has predicted annual revenue and profit figures that fall below Wall Street expectations, leading to a notable dip in its stock price. Key Highlights Revenue Miss: Conagra reported net sales of $2.91 billion for the quarter ending May 26, slightly below analysts’ projections of $2.93 billion. Profit Forecast Below Estimates: The company expects its fiscal-year 2025 profit per share…

Tata Consultancy Services Beats Expectations with Strong First-Quarter Revenue Growth BENGALURU (Multibagger) – Tata Consultancy Services, India’s top IT services company, reported a slightly bigger-than-expected first-quarter revenue on Thursday helped by the execution of large deals bagged in previous quarters and boost from manufacturing segment. The company’s consolidated revenue rose 5.4% to 626.13 billion rupees ($7.50 billion) in the June quarter. Analysts, on average, expected revenue at 622.07 billion rupees, as per LSEG data. TCS also saw its net profit rise 8.7% to 120.40 billion rupees in the three-month period, barely above the 119.78 billion rupees estimated by analysts, as…