Author: Multibagger News

Elon Musk’s Starlink Receives License to Provide Satellite Broadband Services in Sri Lanka In a groundbreaking development, Sri Lanka’s telecommunications regulator has granted a license to Elon Musk’s Starlink, the satellite unit of SpaceX, to offer satellite broadband services in the country. This move comes after Sri Lanka’s parliament passed a new telecommunications bill, marking the first amendment to the law in 28 years and opening the doors for Starlink Lanka to establish its presence in the nation. Starlink had initiated discussions with Sri Lanka back in March, presenting a proposal to commence operations, as confirmed by officials to Multibagger.…

Jerusalem, Multibagger – In a series of dawn raids on Tuesday in the West Bank cities of Ramallah and Al-Bireh, Israeli forces killed an 18-year-old Palestinian man, according to hospital sources. The situation in the Israeli occupied territory is becoming increasingly tense as violence continues to simmer. While the Israeli military has not yet confirmed the reports from the medics at the Ramallah-based Palestinian Medical Complex, the escalating violence in the West Bank and East Jerusalem has been a cause for concern. This unrest was already on the rise before the conflict in Gaza, but has since intensified with increased…

Morgan Stanley Downgrades Maravai LifeScience Holdings Inc. (NASDAQ:MRVI) Stock: What You Need to Know Morgan Stanley has downgraded Maravai LifeScience Holdings Inc. (NASDAQ:MRVI) stock from Overweight to Equalweight, with a new price target of $10.00. This decision comes after a review of the company’s second-quarter results and management’s commentary. The firm’s revised forecasts for Maravai LifeSciences’ third-quarter 2024 and full-year 2024 revenues remain unchanged at $68 million and $276 million, respectively. However, adjusted EBITDA estimates have been lowered to $17 million for the third quarter and $59 million for the year. Morgan Stanley’s new price target is based on a…

Henkel Stock Up on Strong Q2 Results and Impressive Gross Margin Growth Investing.com — Henkel’s (ETR: HEN3) Stock Gains Momentum Amid Q2 Financial Triumphs and Robust Gross Margin Expansion As an astute investor and financial market journalist, it is imperative to note the remarkable performance of Henkel (ETR: HEN3) on Tuesday, attributed to its robust second-quarter results and notable gross margin growth. Key Financial Metrics Stock Performance: At 4:26 am (0726 GMT), Henkel’s stock was trading 0.5% higher, at €78.43. Gross Margin: Henkel reported an impressive 600 basis point increase in gross margin for H1 2024, outpacing peers like Unilever…

China’s Sovereign Bond Rally: What You Need to KnowAs the global economy faces uncertainty, China’s long-dated sovereign bonds have seen a surge in demand, driving yields to record lows. However, authorities are taking measures to cool down the market, causing some turbulence.Authorities’ Actions to Control the Market1. Warnings: The People’s Bank of China (PBOC) has issued warnings about market risks, especially when the 30-year treasury yield falls below 2.5%. Governor Pan Gongsheng emphasized the need to maintain a normal yield curve.2. Selling: The central bank has increased bond trading activities and state banks have been selling off long-term treasuries.3. Dampening…

Goldman Sachs Reveals Latest Insights on US Presidential Race: Harris Holds Slight Lead In a recent note, Goldman Sachs political economists highlighted that the presidential race in the United States is now neck and neck, with Vice President Harris holding a slight national lead. Recent polling data shows Harris leading by approximately 3 percentage points, but long-term averages suggest a closer race. Key swing states have seen Harris’s standing improve, with about 100 electoral votes now evenly split within 2 percentage points. Pennsylvania remains the “tipping point”, where Trump leads Harris by only 0.2 percentage points. As more polls are…

Citi Raises Price Target for CAR Group Stock, Anticipates Strong Revenue Growth: Analysis & Outlook In a recent update, Citi raised its price target for CAR Group (CAR:AU) stock to AUD39.50, highlighting the company’s stronger-than-expected revenue guidance. The financial institution reiterated a Buy rating on the shares, citing the potential impact of CAR Group’s new Wallet offering for Webmotors on dealer growth in the second half of fiscal year 2025. Citi’s analysis projects a 1% and 2% increase in forecasted revenues for fiscal years 2025 and 2026, respectively, driven by the growth outlook for Webmotors and CAR Group’s overall performance.…

Hotter than Expected CPI Data Could Trigger Market Sell-Off or Relief Rally, Bank of America Analysts Say As the latest U.S. Consumer Price Index (CPI) data approaches, Bank of America analysts are weighing the potential market outcomes. Their “house view” predicts a “hotter than consensus” CPI increase of +0.25% month-over-month (m/m) for the headline number, resulting in a year-over-year (YoY) rise of +3.1%. This forecast is slightly above last month’s +3% YoY increase. Bank of America emphasizes that a “soft CPI” could lead to a relief rally, while cautioning that “a hotter CPI & re-acceleration could be a major downside…

Chinese Investors Drive Unprecedented Demand for Overseas Investments: How Foreign Banks Are Coping with the Quota Crunch By Selena Li and Alessandro Diviggiano HONG KONG (Multibagger) – The insatiable appetite of Chinese investors for offshore investments has left foreign banks and fund managers in a scramble to manage outbound-investing quotas. This urgency persists despite recent market sell-offs in the U.S. and Japan. Understanding the Quota System: China’s Qualified Domestic Institutional Investor (QDII) program permits mainland Chinese investors to purchase overseas stocks, bonds, funds, and structured products. As of the end of July, China has approved a total of $167 billion…

By James Davey London, Multibagger – UK grocery inflation has edged higher this month, marking the first increase since March 2023, according to industry data released on Tuesday. Market researcher Kantar reported that annual grocery price inflation stood at 1.8% in the four weeks ending Aug. 4, up from 1.6% in the previous four-week period. “Having reached its lowest rate in almost three years in July, August saw inflation nudge up again slightly,” said Fraser McKevitt, head of retail and consumer insight at Kantar. The British Retail Consortium had previously warned of renewed inflationary pressures due to factors such as…