Author: Multibagger News

Bitcoin Price Rises on Bargain Buying Amid Mt Gox Uncertainty and German Government Sales In the world of cryptocurrency, Bitcoin saw a 2.8% increase in the past 24 hours, reaching $58,870.5, as investors took advantage of recent price declines. This recovery comes at a time of negative sentiment due to concerns over increased supply from Mt Gox and the German government. Bargain hunters have been stepping into the market in recent weeks, with Bitcoin ETFs seeing capital inflows as a result. However, uncertainty looms over just how many tokens Mt Gox will distribute as part of compensation for a 2014…

— TSMC’s Q2 Revenue Surges to $20.67 Billion, Surpassing Market Expectations TAIPEI (Multibagger) – TSMC, the world’s leading contract chipmaker, has once again demonstrated its market dominance by reporting a remarkable second-quarter revenue of T$673.51 billion ($20.67 billion). This impressive figure significantly outstripped market forecasts, reaffirming TSMC’s pivotal role in the global semiconductor industry. Market Outperformance: Decoding the Numbers According to a SmartEstimate compiled by LSEG from 21 analysts, TSMC’s second-quarter revenue was anticipated to be around T$654.27 billion. However, the actual revenue surpassed these expectations by a substantial margin, highlighting TSMC’s robust operational efficiency and market demand. Currency Context…

China’s Exports Surge Amid Tariff Threats: What Investors Need to Know By Joe Cash BEIJING (Multibagger) – China’s exports are expected to have grown at the fastest pace in fifteen months in June, as manufacturers rush shipments to beat impending tariffs from key export markets. Trade data set to be released on Friday is projected to show an 8.0% year-on-year increase in exports, up from 7.6% in May. Imports are also anticipated to have grown by 2.8% last month, indicating increased purchases of parts for export goods. The stronger-than-expected export growth comes as a welcome development for China’s economy, which…

Sunrun Inc CFO Sells Shares: What Does It Mean for Investors? Sunrun Inc (NASDAQ:) CFO, Danny Abajian, recently sold 4,662 shares in the company. This transaction, which occurred on July 8, 2024, was valued at approximately $58,839. The sale was part of a pre-arranged plan to cover tax obligations related to the settlement of vested restricted stock units. Abajian still holds a significant stake in the company, with 283,098 shares of common stock. In addition to the sale, Abajian reported transactions coded as “G,” indicating gifts or transfers of ownership without monetary exchange. These transactions involved 4,838 shares each. Sunrun…

Microsoft Steps Back from OpenAI Board Observer Role Amid Regulatory Scrutiny By Foo Yun Chee BRUSSELS (Multibagger) – In a strategic move to address regulatory concerns, Microsoft has relinquished its board observer seat at OpenAI, citing significant improvements in the AI start-up’s governance over the past eight months. The Shift in Board Dynamics According to a report by the Financial Times, Apple (NASDAQ:) was also anticipated to take up an observer role on OpenAI’s board but has since decided against it. Apple has not provided any comments regarding this decision. Microsoft (NASDAQ:) initially occupied a non-voting observer position on OpenAI’s…

Chinese Inflation Disappoints in June, Paving the Way for Further Monetary Policy Easing Chinese inflation fell short of expectations in June, signaling a need for the People’s Bank of China to implement additional monetary stimulus, potentially through interest rate cuts. Consumer spending remained lackluster, contributing to the subdued inflation numbers. The PBOC had previously lowered its reserve requirement ratio (RRR) in February, but analysts at ING believe that further interest rate cuts are necessary to support the economy. They predict that the central bank may implement 1-2 rate cuts in the second half of the year, especially if the U.S.…

Expensify CFO Ryan Schaffer Executes Significant Stock Transactions – What Does This Mean for Investors? Expensify, Inc. (NASDAQ:EXFY), a leading provider of prepackaged software solutions, saw its Chief Financial Officer, Ryan Schaffer, make a noteworthy move in the stock market on July 9, 2024. Schaffer sold 75,000 shares of Class A Common Stock at $2.00 per share, totaling $150,000, and purchased 75,000 shares at $0.97 each, amounting to $72,750 on the same day. These transactions were carried out under a Rule 10b5-1 trading plan, allowing insiders like Schaffer to schedule their stock transactions in advance without access to confidential information.…

Gold prices saw a slight increase in Asian trade on Wednesday following comments from Federal Reserve Chair Jerome Powell that sparked speculation about potential interest rate cuts by the central bank. Meanwhile, copper prices took a hit as mixed inflation signals from China caused a drop in prices after a recent recovery. Gold had been gaining strength in recent sessions as the US dollar weakened amid expectations of a rate cut in September. However, the precious metal’s rally stalled as the Fed did not provide clear signals on the future path of interest rates. Gold futures rose 0.2% to $2,367.73…

By Leika Kihara TOKYO (Multibagger) – The Bank of Japan is expected to slightly lower its economic growth forecast for this year in July but maintain its inflation target of around 2% in the upcoming years, sources revealed. This move keeps the possibility of an interest rate hike later this month alive. During its next policy meeting on July 30-31, the central bank will unveil new quarterly growth and price projections and deliberate on whether to increase rates from their current near-zero levels. According to three sources familiar with the matter, a rare unscheduled revision to Japan’s historical GDP data…

Expensify CEO David Barrett Sells $25K Worth of Company Stock: What It Means for Investors and Market Performance Expensify, Inc. (NASDAQ:EXFY) CEO David Barrett has recently sold 12,270 shares of company stock at an average price of $2.06, totaling $25,276. These sales were part of a pre-arranged trading plan executed on July 9, 2024. Despite this, Barrett still retains a significant number of shares, with 1,778,003 shares indirectly owned and 218,680 shares owned directly. As an expert financial market journalist, I can confirm that insider sales like these can provide valuable insights into an executive’s perspective on the company’s valuation…