Author: Multibagger News

Hurricane Beryl Causes $2.7 Billion in Damage to U.S. Insurers, Power Outages Persist in Texas As the world’s top investment manager and financial market journalist, I bring you the latest update on the aftermath of Hurricane Beryl. According to catastrophe modeling company Karen Clark & Co (KCC), insurers in the United States are facing a staggering $2.7 billion hit from the damage caused by the hurricane. With about 1.5 million customers still without power in Texas, the slow progress in restoring electricity is hindering efforts to restart critical oil infrastructure. Hurricane Beryl made landfall as a Category 1 hurricane near…

Marathon Oil’s Historic $241M Settlement: What It Means for Climate Change and Your Finances $241 Million Settlement: Marathon Oil Faces Historic Penalty for Air Pollution Violations on North Dakota Indian Reservation By Nichola Groom In a landmark decision, U.S. officials announced a $241 million settlement with Marathon Oil (NYSE:MRO) over alleged air pollution violations at multiple oil and gas facilities located on the Fort Berthold Indian Reservation in North Dakota. This settlement is part of President Joe Biden’s heightened crackdown on environmental violations, specifically targeting the oil and gas sector to mitigate climate change and protect vulnerable communities. Key Highlights:…

Unprecedented Market Movement: Nasdaq and S&P 500 Drop as Small-Caps Soar In a surprising turn of events, the Nasdaq and the S&P 500 experienced a decline from their record highs on Thursday, with megacap stocks taking a hit. However, small-cap stocks saw a significant rise after a softer-than-expected inflation report, leading investors to speculate about a potential interest rate cut by the U.S. central bank in September. The latest Labor Department report revealed an unexpected drop in U.S. consumer prices, marking the smallest annual increase in a year. This data has reinforced the belief that disinflation is once again becoming…

US Imposes Sanctions on Israeli Individuals and Entities Linked to Violence Against Palestinians In a bold move, the United States has imposed sanctions on individuals and entities connected to violence against Palestinian civilians in the Israeli-occupied West Bank. The Biden administration has taken action against three Israeli individuals and five entities, including the far-right group Lehava, known for its opposition to Jewish assimilation and aggression against Arabs in the name of religion and national security. Lehava’s members have been involved in multiple acts of violence against Palestinians, prompting the US to take action. The group’s founder, Ben-Zion Gopstein, has already…

Brussels, Belgium, July 11th, 2024 – Are you ready to network with the top developers and investors in the blockchain industry? Join us at Polkadot Decoded, the flagship event of the ecosystem, happening at The Sheds at Tour & Taxis on July 11th and 12th, 2024. Polkadot is the core of Web3, providing a secure and powerful foundation for transformative apps and blockchains. As the world’s largest DAO, Polkadot prioritizes decentralization, resilience, and interoperability. Attend Polkadot Decoded to connect with industry leaders, explore the latest innovations, and discover partnership opportunities within the Polkadot and Kusama ecosystems. Key highlights of Polkadot…

Affirm Partners with RONA for Flexible Payment Plans | InvestingPro Insights Affirm (NASDAQ: AFRM) has joined forces with RONA inc., a leading Canadian home improvement retailer, to offer customers convenient payment options online. With Affirm’s flexible payment plans, eligible RONA customers can now split their purchases into biweekly or monthly payments, extending up to 12 months. This partnership emphasizes transparency, showing customers the total cost upfront without any hidden or late fees. Adam Powell, Chief Digital Officer of RONA inc., and Wayne Pommen, Chief Revenue Officer at Affirm, both expressed enthusiasm for this collaboration, highlighting the benefits it brings to…

Yardeni Research Raises S&P 500 Year-End Target to 5,800 Amid Bullish Momentum and Rate-Cut Euphoria Yardeni Research has increased its year-end target for the S&P 500 to 5,800 from 5,400, driven by an accelerated discounting of their “Roaring 2020s” scenario. The firm is bullish on the stock market, citing momentum and bullish sentiment as key drivers. Since June, the market has experienced a “slow-motion meltup,” supported by weaker economic indicators and increasing odds of Federal Reserve rate cuts. The federal funds rate futures market is signaling potential cuts starting in September, as suggested by Fed Chair Jerome Powell’s testimony. Yardeni…

By Arathy Somasekhar, Curtis Williams and Liz Hampton HOUSTON/FREEPORT (Multibagger) – About 1.3 million homes and businesses in Texas remained without power on Thursday, four days after Hurricane Beryl lashed the state with fierce winds and flooding, sparking frustration among companies, officials and residents who were facing extreme heat. Around 1.1 million of those without power were customers of CenterPoint Energy (NYSE:), the state’s largest provider. Another 1.17 million customers have been restored since Beryl’s landfall near Matagorda, Texas, the company said. The slow restoration of power continues hindering some companies’ efforts to quickly return operations to normal, especially around…

NTIC’s Q3 2024 Financial Overview: Record Bioplastic Sales Amid Mixed Performance Northern Technologies International Corporation (NASDAQ: NTIC) Q3 2024 Earnings Report: What Investors Need to Know Key Financial Highlights Northern Technologies International Corporation (NASDAQ: NTIC) recently released its fiscal Q3 2024 financial results, revealing a nuanced performance across its different business segments. Despite a slight overall dip in net sales, the company achieved record quarterly sales in its Natur-Tec bioplastic division, driven by heightened demand in North America and India. Key Takeaways: Natur-Tec Bioplastic Boom: Achieved record sales, primarily fueled by North American and Indian markets. Overall Sales: Total net…

Investment Manager’s Insight: Fed’s Battle Against Inflation Nears End as Consumer Prices Fall By Ann Saphir and Howard Schneider In a significant development, the U.S. Federal Reserve’s fight against inflation may be reaching its final stages, with consumer prices seeing a decline in June. This comes as shelter cost increases slow down and markets respond by pushing down yields on bonds and inflation-protected securities. The consumer price index dropped by 0.1% last month, marking the weakest reading since May 2020. The year-over-year rise of 3% was also the lowest in a year. Over the past three months, consumer prices have…