Author: Multibagger News

Toronto, Canada, July 3rd, 2024, Chainwire Digital Shovel Holdings Inc. sued RK Mission Critical LLC, RK Mechanical LLC, and RK Industries LLC for patent infringement in May in the US District Court for the District of Colorado. “Instead of competing fairly,” the complaint says, “Defendants are exploiting the innovative technologies that Digital Shovel has worked hard to develop and protect through patents.” The cover image above shows six original Digital Shovel products in the bottom area, surrounded by RK Mission Critical products using Digital Shovel’s patented technology above. The dispute began in 2019 when Compute North approached Digital Shovel seeking…

On Wednesday, KeyBanc Capital Markets maintained its Overweight rating on Avid Bioservices (NASDAQ:) stock, with a steady price target of $14.00. The firm acknowledged that the company surpassed revenue expectations yet noted that order intake fell short, recording $30 million against the anticipated $45 million and the previous $41 million in the third quarter. Despite the lower order numbers, recent funding data for cell therapy and biotech sectors, released on March 2024 and June 18, 2024, respectively, has shown positive trends. Avid Bioservices, however, has not matched the significant uptick in industry capital raising observed in the April quarter. The…

JOHANNESBURG (Reuters) -The South African rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new government of national unity (GNU) would approach economic reform following the formation of the cabinet. At 1530 GMT, the rand traded at 18.6325 against the dollar, 1.5% weaker than its previous close. The dollar was little changed against a basket of global currencies. “With the announcement of the GNU cabinet in the rear-view mirror, the market is now waiting for clear signs of intent concerning economic reforms,” said ETM Analytics in a research note. President…

Tesla (NASDAQ:) shares jumped by more than 7% Tuesday after the electric vehicle giant reported its latest quarterly delivery numbers, topping consensus expectations. In the second quarter, Tesla produced approximately 410,831 vehicles and delivered approximately 443,956 vehicles, above the analyst consensus expectation of 439,302 deliveries. The quarter saw Tesla produce 386,576 Model 3/Y vehicles, delivering 422,405. Tesla shares hit a high of $226.66 on the news. Reacting to the news, analysts at Wedbush said the worst is behind CEO Elon Musk and Tesla. “This was a huge comeback performance from Tesla and Musk, with the Street expecting a clear miss…

Investing.com– Gold prices rose in Asian trade on Wednesday, seeing some relief as the dollar retreated on some positive comments from Federal Reserve Chair Jerome Powell. But the yellow metal still remained within a trading range established through most of June, as anticipation of more cues on U.S. interest rates kept traders biased towards the dollar. rose 0.1% to $2,332.16 an ounce, while expiring in August rose 0.3% to $2,341.25 an ounce by 23:55 ET (03:55 GMT).  Gold rises, but payrolls, Fed cues limit gains  Strength in gold came tracking an overnight decline in the , after the Fed’s Powell…

(Updated – July 3, 2024 8:34 AM EDT) Several investment firms initiated research coverage on Waystar Holding (WAY), roughly a month after the healthcare payments firm made its debut via an initial public offering (IPO). Among those firms was Barclays, which started its coverage on WAY shares with an Overweight rating and a price target of $24. “WAY is aligned with a number of mission critical end markets within health tech, insulating the company from the sector’s typical volatility,” analysts at Barclays said in a note. “We believe this affords WAY a business model durability rarely seen in the sector,…

WASHINGTON (Reuters) – The U.S. trade deficit widened for a second straight month in May amid a decline in exports, indicating that trade likely remained a drag on economic growth in the second quarter. The trade deficit increased 0.8% to $75.1 billion, the Commerce Department’s Bureau of Economic Analysis said on Wednesday. Data for April was revised slightly to show the trade gap rising to $74.5 billion instead of $74.6 billion as previously reported. Economists polled by Reuters had forecast the deficit increasing to $76.2 billion in May. The goods trade deficit widened 0.9% to $100.2 billion, the highest since…

By Nandita Bose WASHINGTON (Reuters) -Vice President Kamala Harris is the top alternative to replace U.S. President Joe Biden if he decides not to continue his reelection campaign, according to seven senior sources at the Biden campaign, the White House and the Democratic National Committee with knowledge of current discussions on the topic. Biden’s fumbling, sometimes-incoherent and widely-panned first-debate performance against Republican rival Donald Trump last week set off a wave of panic within the Democratic party over concerns that he may not be fit enough to serve a second term, and prompted calls for top aides to resign. Some…

On Wednesday, Reliance Steel & Aluminum (NYSE:RS) shares saw its price target adjusted by KeyBanc, dropping to $325.00 from the previous target of $341.00. Despite the reduction, the firm maintained its Overweight rating on the company’s shares. The adjustment reflects a tempered outlook for the carbon steel sector, with expectations for further EBITDA normalization in the years 2024-2025. The analyst from KeyBanc shared insights on the anticipated market dynamics, noting a shift from pricing and spread factors to a focus on organic steel volumes, which are now projected to be flat or potentially decline year-over-year in 2025. This contrasts with…

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar slipped on Tuesday in thin, choppy trading after Federal Reserve Chair Jerome Powell struck a moderately dovish tone in his comments, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year. Powell, in a monetary policy conference in Portugal, said the U.S. economy has made significant progress on inflation as it gets back on the disinflationary path. His remarks were viewed as dovish, analysts said. Comments by the Fed’s top official outweighed data showing U.S. job openings increased in May after posting outsized declines…