Author: Multibagger News

Liberty Energy Inc. (NYSE:LBRT) CEO and Chairman of the Board, Christopher A. Wright, has sold a total of 40,000 shares of the company’s Class A Common Stock, with the transactions netting a total of $818,000. The sales took place over two consecutive days, with prices ranging from $20.26 to $20.64 per share. On the first day of the transactions, Wright sold 20,000 shares at a weighted average price of $20.26. The sale was part of a pre-planned trading strategy, as the shares were sold pursuant to a Rule 10b5-1 trading plan adopted on December 13, 2023. The exact prices per…

(Multibagger) -Mobile telecoms equipment maker Ericsson (BS:) said on Wednesday it will record a noncash impairment charge of 11.4 billion Swedish crowns ($1.09 billion) in the second quarter of 2024, the second writedown on its acquisition of Vonage. The impairment charge reflects lower anticipated market growth in some of Vonage’s current portfolio, the company said in a statement. The Swedish telecom gear maker bought cloud communication firm Vonage in 2022 for $6.2 billion. “Given deterioration in the market environment and elective decisions we have made to refocus our investments in strategically prioritized areas, we have reassessed certain growth assumptions,” Vonage…

Investing.com– Chinese service sector activity grew less than expected in June, private purchasing managers index data showed on Wednesday, as local demand remained weak and growth of new business activity eased. The rose 51.2 in June, missing expectations for a print of 53.5 and slowing from 54 seen in the prior month. While a reading above 50 still indicates expansion, the pace of growth in the indicator slowed sharply. The services PMI marked its 18th consecutive month of growth, having remained in expansion ever since a post-COVID reopening in late-2022.  But China’s economy has struggled to pick up since then.…

By Moira Warburton WASHINGTON (Multibagger) – U.S. Representative Raul Grijalva became the second congressional Democrat to call for President Joe Biden to withdraw from the presidential race on Wednesday, as the fallout from his shaky performance at Thursday’s debate continues. “If he’s the candidate, I’m going to support him, but I think that this is an opportunity to look elsewhere,” Grijalva, a progressive who represents a district in southern Arizona along the border with Mexico, told the New York Times. Neither Grijalva’s office nor Biden’s campaign immediately returned requests for comment. Biden is set to meet with Democratic governors on…

U.Today – Amid an ongoing sell-off on the cryptocurrency market, Michael Saylor, a prominent advocate and chairman of MicroStrategy, has made a statement on X (Twitter) that resonated across the crypto space: “Just Bitcoin.” This two-word tweet comes as the crypto market faces significant liquidations, with Bitcoin’s price falling. Bitcoin, the largest cryptocurrency by market value, began its decline in the Tuesday trading session, reaching $63,223 at one point before falling further. The losses deepened on Wednesday as investors considered Fed chair Jerome Powell’s remarks, with Bitcoin reaching intraday lows of $59,509. At the time of writing, BTC was down…

DoorDash, Inc. (NYSE:NASDAQ:) President and Chief Operating Officer, Prabir Adarkar, has sold a significant amount of company stock, according to a recent SEC filing. The executive offloaded a total of 8,000 shares of Class A Common Stock at prices that varied between $106.647 and $108.266, totaling over $860,000. The transactions took place on July 1, 2024, and were executed under a Rule 10b5-1 trading plan that Adarkar had adopted on June 7, 2023. Such trading plans allow company insiders to sell shares over a predetermined period of time, in line with the company’s trading policy and SEC regulations. The SEC…

President Joe Biden made it clear that he intends to continue his campaign for reelection, despite facing skepticism from within his own Democratic Party following a debate that cast doubts on his preparedness. In a statement shared by a senior aide on the X social media platform, Biden asserted his position, saying, “I am running. I am the leader of the Democratic Party. No one is pushing me out.” The president’s resoluteness comes at a time when unease is growing among Democrats on Capitol Hill. Biden has been reportedly slow in engaging with both high-ranking party members and the broader…

By Jonathan Stempel (Multibagger) – Walmart (NYSE:) must face a lawsuit claiming it often charges higher prices at the register than it posts on store shelves, costing consumers hundreds of millions of dollars a year, a federal appeals court ruled on Wednesday. Reversing a lower court judge, the 7th U.S. Circuit Court of Appeals in Chicago said consumers could try to prove in their proposed class action that the conduct of the world’s largest retailer was a fraudulent “bait-and-switch” that violated several states’ consumer protection laws. It also rejected Walmart’s argument that providing receipts after purchases negated any unfairness caused…

SAO PAULO (Multibagger) -Brazilian President Luiz Inacio Lula da Silva said on Wednesday his government would remain committed to fiscal responsibility, though he also promised to maintain its policy of handing out cash to eligible poorer families. “Fiscal responsibility is not just a word, it is a commitment for this government… and we will keep it to the letter,” Lula said at an event to launch a subvention program for family agriculture. “We’ll have an economic policy that will make this country grow, we’ll keep making income transfers, and at the same time will keep the responsibility we’ve always had.”…

By Sarah Morland and Michelle Nichols UNITED NATIONS (Multibagger) -Haitian Prime Minister Garry Conille told the U.N. Security Council on Wednesday that the arrival of the first Kenyan police officers under a U.N.-backed mission marked a critical stage to restoring security in a country ravaged by gang violence. “The arrival of the first contingent of the Multinational Security Support kicks off a new era in Haiti,” Conille told diplomats in New York. “Haiti is currently at a critical point with 12,000 armed individuals holding a population of 12 million hostage.” Some 200 Kenyan police arrived in Haiti last week as…