Author: Multibagger News

Top Investment Manager Reveals: U.S. Crude Oil Futures Slip Despite API Report Showing Surprising Decline in Stocks In a surprising turn of events, U.S. crude oil futures slipped in post-settlement trading on Tuesday, despite the American Petroleum Institute reporting a larger-than-expected decline in domestic weekly crude stocks. This is a clear indication that summer demand is on the rise, yet the market seems to be reacting differently. The U.S. benchmark traded at $80.94 a barrel following the report, after settling 1.1% lower at $81.41 a barrel. The API reported a decline of about 1.9 million barrels for the week ended…

Chipotle CFO Jack Hartung Announces Retirement: What It Means for Investors In a significant development, Chipotle Mexican Grill Inc (NYSE: CMG) has announced the retirement of its long-serving Chief Financial Officer, Jack Hartung. Hartung, who has been with the company for nearly 25 years, will step down on March 31, 2025. Adam Rymer, a seasoned executive with 15 years of experience at Chipotle, will take over as CFO starting January 1, 2025. Rymer, who currently serves as Vice President of Finance, has been directly mentored by Hartung and oversees Corporate Finance, Field Finance, and Investor Relations. Upon his promotion, Rymer…

SANTIAGO (Multibagger) – Peruvian police and mountain rescue workers recovered the body of an American climber who went missing in 2002 as glaciers in Peru’s highest mountain and surrounding area continue to retreat. The mummified, skeletal corpse still had well-preserved climbing boots, crampons and clothing, as well as a driver’s license and passport belonging to William Stampfl. Stampfl is suspected to have died in an avalanche more than 20 years ago. In a statement, police say they recovered his body on July 5 at an altitude of 5,200 meters (17,060.37 ft), well below Huascaran’s 6,768-meter summit. Glacial mass in the…

UPS Appoints Brian Dykes as New CFO: What Investors Need to Know UPS (NYSE: UPS) has named Brian Dykes as its new Executive Vice President and Chief Financial Officer, effective immediately. With over 25 years of experience at UPS, Dykes is set to lead the company’s financial strategies and operations globally, following his role as Senior Vice President, Global Finance and Planning. UPS CEO Carol B. Tomé expressed confidence in Dykes’ abilities, emphasizing his extensive background and strategic leadership within the company. As UPS continues its mission of “Moving our world forward by delivering what matters,” the company’s recent developments…

The Best Investment Manager’s Analysis: S&P 500 Hits Record Highs Amid Positive Developments The S&P 500 reached new record highs this week, driven by easing geopolitical tensions, declining consumer inflation expectations, and reduced concerns surrounding the French elections. Israel restarted ceasefire talks with Hamas, leading to lower oil prices and alleviating uncertainty in the region. Additionally, the far-right National Rally party in France underperformed in recent elections, reducing the threat of major policy changes. The market opened strong, surpassing 5,580 within the first hour but pulled back as attention turned to Federal Reserve Chairman Jerome Powell’s upcoming testimony and the…

Market Movers: SGH Soars, Chipotle Dips, Aehr Test Systems Skyrockets, LegalZoom Slumps, MarineMax Gains After-Hours Stock Movers Analysis: SMART Global Holdings, Chipotle, Aehr Test Systems, LegalZoom, and MarineMax SMART Global Holdings, Inc. (SGH): SGH surged 8% post-market following impressive quarterly results and bullish guidance that outpaced consensus estimates. CEO Mark Adams highlighted the company’s successful Q3 performance, emphasizing their ongoing shift towards becoming a high-performance, high-availability enterprise solutions provider. Chipotle Mexican Grill (NYSE: CMG): Chipotle’s shares dipped 0.5% after the announcement that long-time CFO Jack Hartung will retire next year. Adam Rymer, a 15-year veteran of the company, is set…

Iran Accused of Exploiting Gaza Protests in U.S. – White House Warns Against Foreign Malign Influences The White House has accused Tehran of attempting to take advantage of protests related to Gaza in the U.S., describing such actions as unacceptable. This comes after a warning from Director of National Intelligence Avril Haines that Iran is trying to sow discord in American society. Haines’ warning stated that individuals linked to the Iranian government have been posing as activists online, inciting protests about Gaza, and even providing financial support to demonstrators. During a press briefing, White House spokesperson Karine Jean-Pierre emphasized the…

Legendary Bitcoin Trader Peter Brandt Reveals Unconventional Trading Secrets In a recent post, renowned trader Peter Brandt shared some of his unique trading strategies that go against the traditional methods. Brandt, who has been in the trading business since 1975, highlighted that he avoids using trendlines, most indicators, day trading, and taking losses. He also mentioned that he disregards win rates, following what his peers are doing, and the fundamentals of the market. Instead, Brandt focuses on disciplined risk management and psychological resilience, limiting his risk to no more than 70 basis points per trade. This unconventional approach has earned…

Cartesian Growth Corporation II (NASDAQ:RENE) Extends Business Combination Deadline to August 10, 2024 – What Investors Need to Know Cartesian Growth Corporation II, a special purpose acquisition company, has announced its ninth one-month extension for finalizing an initial business combination, now scheduled for August 10, 2024. This extension, revealed in a recent SEC filing, highlights the company’s persistent efforts to secure a business deal within the designated timeframe. On July 3, 2024, the company opted to extend the business combination period, utilizing $150,000 from an unsecured promissory note. This note, with a maximum principal amount of $1.8 million, was issued…

Unprecedented S&P 500 Highs as Powell Signals Rate Cut in September The S&P 500 hit a record high for the fifth consecutive session, fueled by Federal Reserve Chair Jerome Powell’s testimony hinting at a potential rate cut in September. The index rose to a new peak at 5,577.03, while the Dow added 0.2% and the Nasdaq fell slightly. Powell acknowledged a cooling labor market and warned against keeping rates too high for too long, signaling a possible rate cut in September. This news boosted investor confidence, with over 72% now expecting a 25 basis point cut next month. As earnings…