Author: Multibagger News

Russia’s iPhone Frenzy: Pre-Orders Surge Despite Sky-High Prices MOSCOW (Multibagger) – Russian consumers are showing an insatiable appetite for the new iPhone, with pre-order demand soaring 15% higher than its predecessor, despite prices being at least 50% steeper compared to Western markets, according to a top reseller speaking to Multibagger on Friday. In a bold move to circumvent Western sanctions, Russia has legalized "grey" or "parallel" imports, enabling goods to enter the country without the brands’ explicit consent. This pivot came after Western companies, including Apple (NASDAQ: AAPL), imposed export bans in 2022 as a reaction to the ongoing conflict…

As the world’s best investment manager and financial market journalist, I bring you the latest update on the U.S Federal Reserve’s blackout period. After a crucial rate decision earlier this week, Governor Chris Waller is set to appear on CNBC at 11:30 a.m. EDT on Friday. The Fed surprised the market by cutting its overnight interest rate by half a percentage point, a move that not all officials were expecting. Waller’s vote in favor of the larger decrease marked the first dissent from a Fed Board of Governors member since 2005, with Governor Michelle Bowman advocating for a smaller quarter-point…

Unveiling the Mystery: 5 Satoshi-Era Bitcoin Miners Awaken with $3.18 Million Each In a jaw-dropping revelation, analytics account @lookonchain has uncovered the awakening of five dormant Bitcoin wallets from 2009, each holding 50 BTC, totaling a staggering $3.18 million. These wallets belong to miners who earned their rewards in the early days of Bitcoin, when a block reward was a hefty 50 BTC. The sudden emergence of these wallets has sent shockwaves through the cryptocurrency community, with a total of 250 BTC worth almost $16 million being transferred. This unprecedented event sheds light on the early days of Bitcoin mining…

Grocery Outlet Holding Corp. (NASDAQ:) Stock Hits 52-Week Low Amid Retail Challenges In the ever-changing retail landscape, Grocery Outlet Holding Corp. (NASDAQ:) stock has plummeted to a 52-week low of $16.05. The popular discount supermarket chain, known for its unique “treasure hunt” shopping experience, has faced significant challenges in the past year, resulting in a sharp decline of 42.66% in its stock price. Investors are expressing concern as the company navigates through shifts in consumer spending habits and increased competition in the grocery industry. Despite these hurdles, Grocery Outlet Holding Corp. reported a 12% increase in sales and a 2.9%…

Samsung Electronics Faces Major Strike in India: Workers Demand Higher Wages and Union Recognition By Praveen Paramasivam CHENNAI, India (Multibagger) – Samsung Electronics has issued a stern warning to its striking workers in southern India, stating they will not receive wages if they continue to protest and may face termination. This marks a significant escalation in the ongoing dispute between the company and its employees. Key Highlights Location: Samsung’s home appliances factory near Chennai, India. Start Date of Strike: September 9. Worker Demands: Higher wages and union recognition. Factory Output: Contributes roughly a third of Samsung’s annual revenue in India,…

Global Investors Flock to Equity Funds Following Federal Reserve Rate Cut Global investors eagerly embraced equity funds in the week leading up to Sept. 18, as they anticipated the Federal Reserve’s interest rate cut to kick off its long-awaited reduction cycle. According to LSEG data, investors snapped up a net $5.21 billion worth of equity funds during the week, following $6.54 billion in net purchases the week prior. The U.S. Federal Reserve surprised the market by slashing its benchmark policy rate by 50 basis points, which sparked a rally in riskier assets worldwide, including stocks and commodities. Asian equity funds…

Unleashing Catizen’s $CATI Token on Top Exchanges: A Game-Changer in the Crypto Gaming Space Singapore, Singapore, September 20th, 2024, Chainwire In a groundbreaking move, Catizen, the flagship game by Mantle, has officially launched its token, $CATI, on major exchanges like Binance, OKX, and more. This integration with Telegram and The Open Network / TON (L1) and Mantle Network (L2) is set to revolutionize the gaming ecosystem. The $CATI token, issued on both TON and Mantle, offers users a chance to engage in Launchpool "Stake to Earn" programs, boosting the entire gaming ecosystem. The $CATI token will have a maximum supply…

Cardinal Health Acquires Integrated Oncology Network for $1.115 Billion in Cash – Strategic Move to Boost Specialty Services DUBLIN, Ohio – Cardinal Health (NYSE: NYSE:) has announced a definitive agreement to acquire Integrated Oncology Network (ION) for $1.115 billion in cash. This acquisition aims to integrate ION’s more than 50 practice sites and over 100 providers across 10 states into Cardinal Health’s network, strengthening its specialty and oncology services. The acquisition is part of Cardinal Health’s strategy to support independent community healthcare providers and accelerate the growth of its Navista oncology practice alliance. With ION’s comprehensive range of services and…

MercadoLibre Stock Set to Soar: Morgan Stanley and Bank of America Raise Price Targets to Record Highs MercadoLibre (NASDAQ: MELI) has caught the attention of Wall Street once again, with heavyweights like Morgan Stanley and Bank of America significantly elevating their price targets to new record highs. Key Drivers Behind MercadoLibre’s Potential Upside Morgan Stanley analysts have identified four primary catalysts propelling MercadoLibre’s stock: Gross Merchandise Value (GMV), advertising, credit, and its operations in Argentina. Despite the stock trading near historical highs, Morgan Stanley believes there is substantial upside potential. Gross Merchandise Value (GMV): In particular, MercadoLibre’s GMV growth in…

FedEx Corp (NYSE: FDX) Faces Challenges as TD Cowen Lowers Price Target Amid First-Quarter Earnings Miss On Friday, TD Cowen adjusted its price target for FedEx Corp (NYSE: FDX) to $328 from $334, while still recommending the stock as a buy. The move comes after FedEx’s first-quarter financial results fell short of analyst expectations, with ongoing challenges in the parcel market impacting the company’s performance. FedEx’s Freight segment has been under pressure due to difficulties in industrial end markets, prompting TD Cowen to anticipate a comprehensive review of this business division by December 31. Concerns have been raised regarding current…