Author: Multibagger News

State Street (STT) Downgraded to Underperform by Wolfe Research: What Does This Mean for Investors? Wolfe Research recently downgraded State Street Corporation (NYSE:STT) to Underperform from Peer Perform, with a price target of $73.00. The firm’s cautious outlook on the company’s earnings per share (EPS) growth through 2026 led to this decision, citing significant differences between consensus estimates and their own projections. Factors hindering State Street’s EPS growth include challenges in net interest income (NII) due to outflows and repo normalization, as well as pricing pressures and declines in activity. Despite a reasonable valuation based on 2024 and 2025 EPS,…

Investment Manager Reveals: France Faces Uncertain Future After Left-Wing Surge Thwarts Le Pen’s Ambitions France is in the midst of complex negotiations to form a new government after an unexpected left-wing surge in the recent elections. The New Popular Front (NFP) emerged as the leading force in the National Assembly, but with no single group securing a majority, various possibilities are on the table, including an NFP minority government or a broad coalition. This outcome has dealt a blow to President Emmanuel Macron, raising concerns about France’s stability as the euro zone’s second-largest economy, especially with the Olympic Games approaching.…

Porsche Accelerates Shift to Electric: Key Changes to Internal-Combustion Models by 2026 Porsche’s Strategic EV Transition: What It Means for Investors and Consumers Porsche’s Accelerated EV Strategy FRANKFURT (Multibagger) – In a bold move towards sustainability, Porsche is fast-tracking its transition from internal-combustion engines to electric vehicles (EVs). The company plans to cease production of several petrol-powered models ahead of schedule, according to Albrecht Reimold, Porsche’s head of production, in an interview with Automobilwoche. Key Model Changes SUV Macan: The petrol-powered version of the Macan for non-European markets will be discontinued by 2026, sooner than initially planned. "The platform has…

China’s Car Sales Drop 6.9% in June, Signaling Economic Woes – Expert Analysis As the world’s best investment manager and financial market journalist, I bring you the latest news on China’s car sales. In June, car sales in China fell by 6.9% compared to the previous year, marking the third consecutive month of declines. This downward trend comes despite government incentives aimed at boosting consumer demand in the midst of a struggling economic recovery. According to data from the China Passenger Car Association, passenger vehicle sales totaled 1.78 million units in June. The pace of decline accelerated from a 2.2%…

France’s Hung Parliament Sparks Taxing Negotiations for Government FormationBy Richard Lough France finds itself in a state of political limbo after a left-wing surge in the recent election prevented Marine Le Pen’s far-right party from taking power. The National Assembly now faces a scenario of taxing negotiations to form a government, with the New Popular Front (NFP) emerging as the dominant force but lacking a working majority. President Emmanuel Macron’s centrist alliance suffered a setback, leading to a fragmented parliament that could weaken France’s position in the European Union and hinder progress on domestic policies. The left won 182 seats,…

Zurich, Switzerland, July 8th, 2024, Chainwire Certo Protocol Expands Support for USDC in Decentralized Stablecoin Lending Certo protocol, the innovative decentralized stablecoin lending platform, has now added support for USDC deposits and borrows, in addition to its existing support for USDT.stUSD, an interest-earning stablecoin powered by Certo, utilizes a peer-to-peer lending protocol that works with tokenized real-world assets like U.S. Treasuries. Certo, as showcased on certo.finance, is a groundbreaking decentralized finance (DeFi) platform that brings real-world assets into the digital space. By enabling the use of tokenized U.S. Treasuries as collateral in lending stablecoins, Certo offers users the opportunity to…

By Harry Robertson and Dhara Ranasinghe French shares fell, the risk premium of French bonds over German rose and the euro dipped on Monday, after elections left France facing a hung parliament and the prospect of taxing negotiations to form a government. A surprise left-wing surge in Sunday’s election blocked Marine Le Pen’s quest to bring the far right to power in the National Assembly but no single group secured a working majority. France’s blue-chip index dropped 0.6% and the gap between Germany and France’s 10 year bond yields widened by two basis points to 70 bps. That spread reflects…

By Ron Bousso, Marwa Rashad and Emily Chow ADNOC has earmarked a 40% stake in its Ruwais liquefied natural gas (LNG) project to four energy majors Shell, TotalEnergies, BP, and Mitsui, sources told Multibagger. The project is set to more than double UAE’s output of the sea-borne fuel and is expected to produce about 9.6 million metric tons per annum (mtpa) by late 2028. One source mentioned that ADNOC plans to assign another 5% stake to another partner, without providing details. ADNOC has also allocated 2 mtpa to shareholders, according to another source who spoke on condition of anonymity. The…

Boeing’s $243.6 Million Guilty Plea: What It Means for Investors and Stakeholders By Chris Prentice, Mike Spector, and David Shepardson Introduction: A Pivotal Moment for Boeing Boeing (NYSE: BA) has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to resolve a U.S. Justice Department investigation into the tragic crashes of two 737 MAX aircraft. This settlement, still pending judicial approval, marks a significant chapter in Boeing’s ongoing crisis. Conviction and Consequences The plea deal brands Boeing as a convicted felon in connection with the crashes in Indonesia and Ethiopia in 2018 and…

In a note released on Monday, economists at Goldman Sachs predict that Prime Minister Narendra Modi’s new government will prioritize welfare spending in its first budget, with a particular emphasis on boosting the rural economy and creating jobs. The budget proposal for the fiscal year ending March 2025 is set to be presented on July 23, according to the government’s announcement over the weekend. While the government is expected to maintain its fiscal deficit target of 5.1% of GDP as set in the interim budget, Goldman Sachs economists anticipate a broader statement outlining long-term economic policy goals. Santanu Sengupta, chief…