Author: Multibagger News

Oppenheimer Strategists Raise Year-End S&P 500 Target Price to $5,900 with Bullish Outlook for 2024 In an exciting development for investors, Oppenheimer strategists have increased their year-end target price for the S&P 500 to $5,900, up from $5,500, citing strong earnings projections and economic resilience. This marks the firm’s third price target adjustment for 2024, indicating their confidence in the market’s potential. The latest bullish outlook is supported by S&P 500 earnings results over the last three quarters, as well as positive economic data driven by the Fed’s cautious monetary policy. Oppenheimer highlights an innovation cycle that could benefit all…

Title: Wall St Hits New Records as Fed Testimony and Earnings Season Kick Off As the week begins, Wall Street stocks are reaching new heights, gearing up for another earnings season and Federal Reserve testimony. Meanwhile, surprise results in the French election have shifted the political landscape, leaving a hung parliament in its wake. U.S. Treasuries are steady, and the dollar is weaker after a cooling labor market report in June, fueling expectations of two Fed rate cuts this year. Fed chair Jerome Powell faces tough questions in Congress this week, while market focus turns to corporate earnings updates. In…

Baxter International Stock Surges: Carlyle Group Eyes $4 Billion Vantive Acquisition Baxter International’s stock (NYSE: BAX) shot up by over 5% on Friday following Multibagger’ announcement that Carlyle Group, a prominent private equity firm, is in exclusive talks to acquire Baxter’s kidney care spinoff, Vantive, for upwards of $4 billion, inclusive of debt. Key Developments: Exclusive Negotiations: The talks between Baxter and Carlyle Group commenced in late June, with a potential deal expected to be finalized in the coming weeks. First Reported by WSJ: The Wall Street Journal initially broke the news about these exclusive negotiations. Wells Fargo Analysis: Analysts…

Lucid Group Exceeds Q2 Delivery Estimates, Shares Rise 6% in PreMarket Trading Lucid Group, a luxury electric sedan manufacturer, reported second-quarter deliveries that surpassed analysts’ expectations on Monday. The company’s shares surged approximately 6% in premarket trading as price cuts helped drive demand for its electric vehicles. Factors such as high borrowing costs, economic uncertainties, and consumer preference for gasoline-electric hybrids have previously dampened the demand for EVs. In response to slowing demand, market leaders like Tesla and Lucid have implemented price reductions and increased incentives like cheaper financing options to attract consumers. Lucid slashed prices of its Air sedans…

Israeli Forces Launch Heaviest Attack on Gaza City, Killing Dozens – Latest Updates As the conflict in Gaza escalates, Israeli forces have launched a devastating attack on Gaza City, causing widespread destruction and casualties. Tanks have advanced into the heart of the city, unleashing a barrage of tank shells and missiles, leaving residents in a state of panic and chaos. The Gaza Civil Emergency Service has reported that dozens of people have been killed in the onslaught, but emergency teams are struggling to reach the affected areas due to ongoing offensives. Entire neighborhoods have been bombed, with multi-floor buildings reduced…

Metaplanet Inc Follows in MicroStrategy’s Footsteps, Adds 42 BTC to its Stash In a strategic move, Metaplanet Inc, a Japanese firm known as MicroStrategy’s imitator, has increased its Bitcoin holdings by acquiring an additional 42 BTC. This marks the second time this month that the publicly traded company has purchased Bitcoin, solidifying its position as one of the early adopters of the digital currency in the Japanese financial market. The latest acquisition saw Metaplanet invest 400 million yen, equivalent to $2,485,280, to acquire the 42.466 Bitcoin units at an average price of 9,419,300 yen or $58,534.36 per unit. This move…

Entergy Corp (NYSE:ETR) Outlook Revised by BMO Capital Markets: What Investors Need to Know In a recent update, BMO Capital Markets adjusted its outlook on Entergy Corp (NYSE:ETR) shares, lowering the price target to $117 from $120 while maintaining an Outperform rating. This adjustment comes after a quarterly evaluation, leading to a revised second quarter 2024 earnings estimate of $1.70, down from $1.84 in the same period last year. The decrease in earnings is attributed to discussions from Entergy’s first quarter 2024 earnings call, emphasizing favorable operations and maintenance costs in the second half of the year. Despite this, the…

As the world’s leading investment manager and financial market journalist, I bring you the latest update on oil prices. Despite a four-week climb, prices saw a slight decrease on Monday due to easing worries about supply disruptions in Gaza. However, the potential impact of Hurricane Beryl on supplies kept the slide in check. As of 1230 GMT, oil futures were down 0.5% at $86.12 a barrel, while U.S. West Texas Intermediate (WTI) crude stood at $82.64 a barrel, down 0.63%. Ceasefire talks in Gaza, mediated by Qatar and Egypt, could potentially reduce the geopolitical bid in the market, according to…

By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind The Texas energy industry is facing a major threat from Hurricane Beryl, which has forced the closure of key oil and gas shipping ports, slowed refining operations, and led to the evacuation of production sites. Beryl made landfall near Matagorda, Texas, with sustained winds of 80 mph, causing disruptions in the heart of the country’s energy sector. Texas, known for producing the most oil and gas in the United States, is heavily impacted by the storm. As of Monday morning, almost 490,000 homes and businesses were without power…

**Guggenheim Downgrades ServiceNow (NOW) to Sell: Is a Market Correction Looming?** Guggenheim analysts have issued a downgrade for ServiceNow (NYSE: NOW), shifting their rating from Neutral to Sell, and have set a price target of $640. While the investment firm anticipates satisfactory results for ServiceNow’s Q2 2024, they express concerns about the second half of 2024, particularly around consensus Subscription expectations. Analysts highlight that the current stock valuation, trading at 15x EV/NTM likely recurring revenue, poses significant downside risk. “ServiceNow anticipates an uptick in GenAI business in the second half, but our field research suggests this may not occur until…