Author: Multibagger News

Citi strategists observed net selling from long-only managers over the past week, with buying primarily concentrated in consumer discretionary and industrials, while their buying in the technology sector slowed. On the flip side, hedge funds increased their tech exposure the most in the past week, after weeks of selling, followed by consumer staples. At the same time, hedge funds sold off in health care, utilities, and real estate sectors. The recent sector performance aligns with a shift from reflation trades toward stagflation and Goldilocks scenarios, where tech outperforms, Citi noted. Over the last three months, sector-implied regimes have notably changed.…

Investing.com– Oil prices steadied Wednesday, largely handing back early gains but remaining near two-month highs after industry data showed U.S. inventories dropped substantially last week, boosting optimism over demand. At 07:00 ET (11:00 GMT), rose 0.2% to $86.37 a barrel, while climbed 0.1% to $82.88 a barrel.  Hurricane supply jitters ease, economic worries persist  Early gains have largely evaporated Wednesday with traders growing less concerned that Hurricane Beryl will cause disruptions in offshore oil production around Mexico and the east coast. The hurricane, which is currently a dangerous category 4 in the Caribbean, is expected to weaken into a tropical…

(Reuters) – Southwest Airlines (NYSE:) said on Wednesday it had adopted a defensive tactic called “poison pill” after activist investor Elliott Investment Management called for leadership changes at the carrier over its disappointing performance. The announcement comes days after Southwest CEO Bob Jordan said he would not resign in response to pressure from Elliott, which revealed a stake worth nearly $2 billion in the carrier last month. “Southwest Airlines has made a good faith effort to engage constructively with Elliott Investment Management since its initial investment and remains open to any ideas for lasting value creation,” Southwest Executive Chair Gary…

By Ariba Shahid KARACHI (Reuters) -Pakistan is looking to clinch a staff level agreement on an International Monetary Fund bailout of more than $6 billion this month after addressing all of the lender’s requirements in its annual budget, its junior finance minister told Reuters. The South Asian country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another economic meltdown, even as domestic anger rises at new taxation measures. “We hope to culminate this (IMF) process in the next three to four weeks,” Minister of State…

JERUSALEM (Reuters) -One person was killed and another wounded in a stabbing attack in an Israeli mall on Wednesday in which the assailant was also shot dead, Israeli police and medics said. Police said it was a suspected terror attack. Israeli medics told Reuters one of the two victims was pronounced dead after being rushed to hospital, and the attacker died at the mall in Karmiel, northern Israel. Israeli medics said earlier on Wednesday they had treated two men in their 20s, one in a very serious condition and the other fully conscious. Video from the scene that was shared…

Investment growth in AI-related sectors remains robust, especially for semiconductor companies, Goldman Sachs economists said in a note. Equity markets are anticipating a roughly 50% revenue growth for these firms from current levels by the end of 2025. Since the launch of ChatGPT, equity markets have increased their 2025 revenue projections for AI hardware enablers by $330 billion, equivalent to 1.2% of US GDP, up from $250 billion a quarter ago. “These upgrades are expected to broaden from semiconductor and cloud firms to the broader datacenter stack by 2025H2,” economists wrote in a note. “While AI-related investment is not yet…

By Polina Devitt and Pratima Desai LONDON (Reuters) – Russian firms have boosted zinc metal production over the past month to benefit from rising state demand and reduce reliance on China as a destination for material, two sources familiar with the matter told Reuters. Russia’s output of zinc used to galvanise steel is a fraction of the global total, but it will add to tightness in the global zinc concentrate market as seen in China’s imports. Russia’s commodity exports to China soared after Western sanctions were imposed on Moscow for its invasion of Ukraine in Feb. 2022. However, ever-widening U.S.…

(Reuters) -First Foundation shares slumped 30% in premarket trading on Wednesday after the Texas-based lender with a huge portfolio of multifamily real estate loans disclosed a $228 million “unexpected” capital raise. Banks’ exposure to commercial real estate (CRE) loans has rattled investors as higher-for-longer interest rates and low occupancy due to a shift in work patterns have fanned fears of defaults. Worries about multifamily loans also crushed New York Community Bancorp (NYSE:)’s shares, which have lost nearly two-thirds of their value so far this year. Loans secured by multifamily properties – apartment buildings with more than four units – accounted…

Investing.com —  in the U.S. added fewer roles than anticipated in June, but job gains remained somewhat resilient thanks to a rebound in hiring in the leisure and hospitality industries, according to a report from payrolls processor ADP on Wednesday. The ADP Employment report showed that private payrolls rose by 150,000 last month, down from an upwardly-revised total of 157,000 in May. Economists had seen the figure at 163,000. Leisure and hospitality accounted for a large portion of jobs created in the key services sector, offsetting a decline in the information field and weakness in education and health services. “Job…

Investing.com — U.S. Vice President Kamala Harris is the top alterntive to President Joe Biden should he choose not to continue his campaign for re-election in November, Reuters reported on Wednesday. Citing senior sources within the Biden campaign, the White House and the Democratic National Committee, Reuters said that it would be nearly impossible to forego naming Harris as Biden’s replacement. A host of Democratic governors — California’s Gavin Newsom, Michigan’s Gretchen Whitmer and Pennsylvania’s Josh Shapiro — have all reportedly been floated as potential alternatives. But the sources told Reuters that Harris retains the best name recognition and has polled…