Author: Multibagger News

By Maria Martinez BERLIN (Multibagger) – The downturn in Germany’s manufacturing sector, which accounts for about a fifth of Europe’s biggest economy, continued to gather pace in July, a survey showed on Thursday. The HCOB final Purchasing Managers’ Index (PMI) for German manufacturing fell to 43.2 in July from 43.5 in June, above a preliminary flash estimate of 42.6 and remaining below the 50 level that separates growth from contraction. The current 25-month sequence of sub-50 readings is the longest on record since 1996, the report said. “Germany’s industry is off to a rough start in the second half of…

By Jack Queen and Luc Cohen EL PASO, Texas (Multibagger) – Ismael “El Mayo” Zambada, the notorious alleged co-founder of the Sinaloa Cartel, is set to make an appearance in a U.S. court following his recent arrest on drug trafficking charges. Zambada is scheduled for a status conference before U.S. District Judge Kathleen Cardone in El Paso, Texas, federal court at 1 p.m. MDT (1900 GMT). These hearings typically involve legal matters like evidence disclosure and scheduling. In a significant development for U.S. law enforcement, Zambada was apprehended on July 25 along with Joaquin Guzman Lopez, the son of imprisoned…

Confluent Inc (CFLT) Stock Update: DA Davidson Lowers Price Target to $30 Despite Strong Revenue Growth In a recent update, DA Davidson revised its outlook on Confluent Inc (NASDAQ: CFLT) stock, lowering the price target to $30 from $37 while still maintaining a Buy rating. The adjustment comes after Confluent’s second-quarter performance, which saw a significant increase in cloud revenue, surpassing consensus estimates with over 40% year-over-year growth. Despite the positive results, management highlighted challenges, including cost optimization pressures within the digital native customer segment, leading to a decrease in the Dollar-Based Net Retention Rate (DBNRR). This drop, below the…

The U.S. dollar bounced back in early European trade on Thursday after suffering losses following the Federal Reserve’s suggestion of a potential rate cut in September. Meanwhile, the U.K. pound weakened ahead of the Bank of England’s policy-setting meeting. By 05:45 ET (09:45 GMT), the Dollar Index, which measures the dollar against six other currencies, was up 0.3% at 104.154, recovering from a 0.4% drop on Wednesday. The index had its worst monthly performance of the year in July, falling 1.7%. Dollar Recovers from Fed’s Signals The Federal Reserve decided to keep interest rates unchanged at the end of its…

Federal Open Market Committee Hints at Potential Rate Cut in September During the July meeting, Chairman Jerome Powell hinted at a possible rate cut in September, depending on favorable inflation data. Goldman Sachs economists believe that Powell’s comments indicate a low bar for a September cut. Powell discussed recent labor market changes as signs of normalization, emphasizing the FOMC’s readiness to act if needed. He mentioned that inflation is slightly above target but with diminished upside risks and increasing downside risks to the labor market. Citi economists highlighted the importance of labor market data in the Fed’s decision-making process. They…

Breaking News: Li Jizun Appointed as General Manager of Shenzhen Stock Exchange Amid Major CSRC Leadership Overhaul SEO Post Title: "Li Jizun Appointed as Shenzhen Stock Exchange General Manager Amid CSRC Leadership Reshuffle – What It Means for Investors" Article: Shenzhen, China – In a significant move reflecting the ongoing leadership reshuffle at the China Securities Regulatory Commission (CSRC), Li Jizun, a senior civil servant, is set to become the new General Manager of the Shenzhen Stock Exchange, the country’s second-largest bourse. This appointment fills a critical role that has been vacant for seven months, sources close to the matter…

Investment Expert Analyzes Fed’s Decision, Meta Platforms Earnings, and Apple’s Quarterly Results As the world’s best investment manager and financial market journalist, I bring you the latest updates on the Federal Reserve’s decision to keep rates unchanged but hint at a possible cut next month. Additionally, Meta Platforms impresses with its quarterly earnings, and Apple is set to release its results after the closing bell. 1. Fed Boosts Confidence in September Rate Cut The Federal Reserve left interest rates unchanged but acknowledged progress on inflation, raising hopes of a potential rate cut in September. With recent data pointing to improvements…

In a significant blow to the militant Islamist group Hamas, the elusive military leader Mohammed Deif was finally killed in an Israeli airstrike on July 13. Deif, one of the masterminds behind the Oct. 7, 2023 assault on southern Israel, had a long and secretive career within the Palestinian group and had been sought by Israel for decades. The Israeli military confirmed his death in the airstrike in Gaza’s Khan Yunis area, marking the end of a chapter that saw Deif survive seven previous assassination attempts, the most recent in 2021. Over the years, Deif had developed Hamas’ network of…

Wingstop Inc. (NASDAQ:WING) Receives Price Target Increase from BMO Capital After Strong Q2 2024 Results In a recent development, BMO Capital raised the price target on Wingstop Inc. shares from $345.00 to $360.00, while maintaining a Market Perform rating. This adjustment follows the company’s impressive second-quarter performance, surpassing earnings per share (EPS) expectations by $0.10. Wingstop’s positive results have prompted the company to revise its long-term goals, projecting over 10,000 global stores and an average unit volume (AUV) of $3 million. Additionally, the company has updated its guidance for 2024, expecting comparable store sales growth of around 20%. Several financial…

Investment Outlook: Fed Hints at September Rate Cut, Meta Platforms Impresses, Apple Up Next The Federal Reserve kept rates unchanged but hinted at a possible rate cut next month, boosting investor confidence. Meanwhile, Meta Platforms reported strong quarterly earnings, surpassing market expectations. Apple is set to release its earnings after the close. 1. Fed Signals Confidence in September Rate Cut The Federal Reserve left interest rates unchanged but acknowledged progress on inflation, hinting at a possible rate cut in September. Traders are now pricing in a 25 basis point cut, with a chance of a 50 basis point cut. The…