Author: Multibagger News

The question of President Biden’s candidacy in the upcoming election has been a hot topic, particularly after his performance in the first debate. In notes this week, analysts at Strategas and Evercore ISI provided their thoughts. According to Strategas, Biden “failed to achieve his objectives” during the debate, worsening his electoral standing. Despite this, their analysis points to Biden remaining the Democratic nominee, albeit with some uncertainty. Strategas analysts have engaged extensively with campaign strategists, news articles, clients, and election rules. Their research suggests that, although surprising, Biden is likely to stay on the ticket. However, they acknowledge that unexpected…

Bengaluru, India, July 3rd, 2024, Chainwire E Money Network, a modular RWA blockchain, has launched the biggest RWA grant program in the crypto space, totaling $2 million, to enable RWA projects to build on their blockchain and accelerate the development of the RWA economy. E Money Network’s Architecture Unlocks a World of Possibilities E Money Network is an L1 blockchain that acts as a foundational network for building RWA projects. Apart from a developer-friendly SDK for customized features, it also has standard ready-made modules such as KYC verified onboarding, banking, staking, governance and more that can be incorporated directly into…

On Wednesday, RBC Capital maintained its outperform rating on shares of Rollins (NYSE:) with a consistent price target of $52.00. The firm anticipates an uptick in Residential Pest control services in the second quarter of 2024, driven by the seasonal impact of warmer weather and the emergence of cicadas. The analysis also forecasts continued strong performance in the commercial and termite/ancillary service sectors. The company’s growth is expected to benefit from the natural cycle of cicadas, which is predicted to see two broods this year, potentially increasing demand for pest control solutions. This cyclical event, combined with the onset of…

By Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade within the narrowest range in nearly three decades over the coming year as the Reserve Bank of India (RBI) continues to maintain its tight grip on the currency’s movements, according to a Reuters poll. While most emerging market currencies fared badly against the dollar in the past two years, the rupee has stayed remarkably stable due to the RBI’s nearly $650 billion forex reserves which it has deployed regularly to curb volatility. The currency’s implied volatility, hovering at its lowest level in nearly two decades, is expected to hold…

Investing.com — U.S. stock futures hovered mostly around the flatline on Wednesday, as investors awaited the release of minutes from the Federal Reserve’s latest meeting and fresh labor market data. The main indices climbed in the previous session, with the benchmark in particular closing above 5,500 points for the first time ever. Elsewhere, Apple (NASDAQ:) is reportedly set to take an observer role on the board of ChatGPT-maker OpenAI. 1. Futures muted U.S. stock futures were muted on Wednesday after the main averages on Wall Street climbed in the prior session. By 03:29 ET (07:29 GMT), the contract was trading down…

SINGAPORE (Reuters) – China’s Sinopec (OTC:) Corp has struck a high flow of oil and gas in an offshore exploration well in the Beibu Gulf of the South China Sea, it said on Wednesday. The well, Hai-3, a rare slanted well with a drilling depth of 4,600 meters (2.86 miles), tested daily output of 738 cubic metres of and 280,000 cubic metres of , Sinopec said. The discovery of the shallow-sea well will boost Sinopec’s ongoing development of the Weizhou oilfield in the Beibu Gulf that has proven oil reserves exceeding 10 million metric tons (73 million barrels), Sinopec said…

AI-enabled PCs could act as a positive catalyst for Best Buy (NYSE:) stock in the second half of 2024, analysts at D.A. Davidson said in a note. Although BBY shares have lagged behind the S&P 500 year-to-date, the stock has been showing signs of recovery, including a 15% rebound since reporting first-quarter 2024 results at the end of May. This rebound makes it the best performer among the 14 Retailing and Broadlines & Hardlines stocks covered by D.A. Davidson since that time, the firm’s analysts noted. “We think that recovery is supported by improving industry data, primarily related to rebounding…

SAO PAULO (Reuters) – Industrial production in Brazil fell 0.9% in May from April, government statistics agency IBGE said on Wednesday, below the 1.7% decline estimated by analysts polled by Reuters. Still, Brazilian factories posted their second-consecutive month-on-month drop, down a cumulative 1.7% in the period. Production in May retreated 1.0% from a year earlier , also better than the 1.7% fall expected by analysts, but well below the 8.4% annual rise in April. According to IBGE survey manager Andre Macedo, Brazil’s industrial output was impacted in May by historic rains and floods in the country’s southernmost state of Rio…

Champaign, Illinois, United States, July 2nd, 2024, Chainwire Pi Squared, (Proof of Proof), announced the closure of their first capital raise. Led by Polychain Capital, the syndicate includes ABCDE, Bloccelerate, Generative Ventures, Robot Ventures, and Samsung (KS:) Next. Angel investors include Shumo Chu, Harish Devarajan, Justin Drake, Sreeram Kanaan, Csongor Kiss, George Lambeth, Yilong Li, Calvin Liu, Lucian Mincu, Karthik Raju, and Common Prefix. Using zero-knowledge (ZK) technology in a correct-by-construction and fundamentally unique way, Pi Squared will enable trustless remote computing, AI, and interoperable smart contracts for any blockchain or dApp. This will be made possible through the creation…

On Wednesday, Barclays initiated coverage on Valmet Oyj (VALMT:FH) (OTC: VOYJF), a global developer and supplier of technologies, automation, and services for the pulp, paper, and energy industries. The firm assigned an Underweight rating to the stock, along with a price target of €19.00. The new price target indicates a potential downside of approximately 30% from the company’s current market valuation. The coverage by Barclays suggests that Valmet’s shares may face downward pressure due to several factors. The analyst pointed out a roughly 45% downside to the company’s projected 2025E Process EBITA (earnings before interest, taxes, and amortization). Additionally, concerns…