Author: Multibagger News

By Sudipto Ganguly COLOMBO (Multibagger) – Sajith Premadasa, the leader of Sri Lanka’s main opposition party, is poised to win Saturday’s presidential election, marking a significant moment in the country’s history. Premadasa, 57, a graduate of the prestigious London School of Economics, entered politics following the tragic assassination of his father, former President Ranasinghe Premadasa, in 1993. Since then, he has steadily risen through the ranks, serving in various government positions before assuming leadership of the Samagi Jana Balawegaya (SJB) party. In the previous presidential election, Premadasa secured 42% of the votes, establishing himself as a formidable contender. His platform…

PBF Energy Inc. Downgraded to ‘Underweight’ by Piper Sandler – What it Means for Investors In a recent development, PBF Energy Inc. (NYSE:) saw its stock rating downgraded by Piper Sandler from ‘Neutral’ to ‘Underweight.’ This downgrade was accompanied by a reduction in the price target for the company’s shares to $25.00 from $47.00. The revision was driven by concerns about PBF Energy’s future financial performance. Piper Sandler highlighted PBF Energy’s position as a small to mid-cap (SMID-cap) company with high refining leverage as a key factor in their analysis. The firm predicts a significant potential drop in earnings before…

FedEx Shares Plummet Over 12% After Disappointing Q1 Earnings and Revised Guidance – What Investors Need to Know Key Points: FedEx Shares Drop: FedEx (NYSE: FDX) shares plunged by over 12% in premarket trading following a disappointing fiscal Q1 earnings report. Revised Guidance: The logistics giant cut its full-year earnings outlook, anticipating adjusted earnings per share to range between $20.00 to $21.00, down from the previously forecasted $20.00 to $22.00. Revenue Growth: The company now expects low single-digit percentage revenue growth year-over-year, scaling back from the earlier projection of a low-to-mid single-digit increase. Cost Management: FedEx aims to manage expenses…

Investment Opportunities: Interest Rate Cuts Expected in Switzerland and Sweden In the wake of a significant Federal Reserve rate adjustment, more interest rate cuts are on the horizon in Switzerland and Sweden. U.S. inflation data and global business activity surveys are pointing towards pressure in the near future. With Japan’s ruling party selecting its next leader and Sri Lankan voters gearing up to elect a new president, the political landscape is also shaping the economy. Let’s dive into what to expect in the world markets in the upcoming week: 1/ Central Banks in Focus Switzerland and Sweden are next to…

Artem, a 22-year-old IT student in Moscow, has no regrets about shelling out more than $3,000 to see his favorite singer perform. Around the world, fans of Taylor Swift – “Swifties” – are used to paying eye-popping prices to attend her concerts. But in Russia, there are other challenges in the quest to catch the superstar on tour. Many Western performers have shunned Russia since 2022, when Russia sent its army into Ukraine, and outward travel to the West is fraught with complications. But Russian Swifties, undeterred, embarked this summer on daunting odysseys – requiring visa appointments and clever flight…

Morgan Stanley Downgrades VAT Group AG Stock Amid Memory Sector Shifts In a recent update, Morgan Stanley has downgraded VAT Group AG (VACN:SW) from Equalweight to Underweight, with a revised price target of CHF350, down from CHF460. This decision comes after a reassessment of the memory sector’s performance and capital expenditure projections. Initially, Morgan Stanley had a positive outlook on VAT Group, citing signs of recovery in the memory sector and strong demand. However, recent developments in the global memory market have led to a less favorable view, with a deteriorating pricing environment and delays in NAND capital expenditures. While…

Breaking News: Bitcoin Hits Three-Week High After Federal Reserve’s Rate Cut In a surprising turn of events, Bitcoin’s price surged to a three-week high on Friday, signaling a strong week ahead for the cryptocurrency market. This bullish momentum was fueled by an unexpected interest rate cut by the Federal Reserve, which boosted risk appetite across various markets. Despite an initial mixed reaction to the rate cut, Bitcoin eventually followed an upward trend seen in other risk-driven markets, particularly stocks. As a result, broader cryptocurrency prices also experienced an uptick on Friday and were on track for weekly gains. At the…

Russia Plans to Raise Exit Tax to 40% on Foreign Companies Amid Tightening Sanctions Introduction In a significant development for global investors and businesses, Russian authorities are considering a substantial increase in the mandatory contribution that foreign companies must pay to exit the country. The proposed hike could see the tax rise to as high as 40% from the current 15%, according to a report by RBC daily, citing four informed sources. Background Since Western sanctions were imposed in response to Moscow’s invasion of Ukraine, Russia has systematically increased the hurdles for foreign companies seeking to exit the market. These…

The Shocking News From Mercedes-Benz: Why the World’s Largest Car Market Is Causing Chaos in the Luxury Auto Industry FRANKFURT (Multibagger) – In a surprising move, Mercedes-Benz has once again slashed its full-year profit margin target, citing the weakening Chinese car market as the main culprit. This announcement marks the second time in less than two months that the German luxury carmaker has revised its earnings outlook, sending shockwaves through the industry. Following the news, shares in Mercedes-Benz plummeted by 7.5%, hitting their lowest point in nearly two months and dragging down European car stocks as well. With GDP growth…

As the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind, I present to you the Latest News on Nosana’s Mainnet Launch in January 2025 Nosana, the decentralized AI inference engine powered by a global network of consumer GPUs, has officially announced the launch date for its Nosana Mainnet: January 14, 2025. Nosana, a leader in decentralized AI computing, is proud to unveil the upcoming launch of its Nosana Mainnet on January 14, 2025. This significant milestone follows a year of intensive testing and preparation for full-scale deployment. “When we first envisioned Nosana, we imagined a world where AI…