Author: Multibagger News

Discover the latest insights into Novartis (NYSE:NVS) as BMO Capital reaffirms its Market Perform rating and $118.00 stock price target following discussions with CFO Harry Kirsch. Learn more about the company’s mid-term guidance alignment, key product performance, and potential growth catalysts. Novartis has shown robust growth in its Q2 2024 earnings report, with sales and core operating income on the rise. Despite this, Goldman Sachs downgraded the stock to Neutral, while Erste Group upgraded it to Buy based on optimistic 2024 outlook and valuation metrics. Find out how Novartis’s financial performance and market response are shaping its future, and gain…

Wall Street Stumbles as Mixed Jobs Report Fuels Fed Rate Cut Uncertainty By Johann M Cherian and Purvi Agarwal Introduction In a turbulent session on Friday, Wall Street’s primary indexes suffered declines following a critical jobs report that left investors uncertain about the Federal Reserve’s upcoming interest rate decision. This article breaks down the implications of the mixed signals from the labor market and their potential impact on your investments. Key Insights from the Jobs Report The Labor Department’s latest report revealed that U.S. employment figures for August fell short of expectations. Despite this, a drop in the unemployment rate…

Telegram CEO Vows to Crack Down on Illegal Activity on Messaging App In a bold move to protect its almost billion users, Telegram CEO Pavel Durov announces a new approach to moderating content on the platform. Durov stated, “While 99.999% of Telegram users are law-abiding citizens, the 0.001% engaged in illicit activities tarnish the platform’s reputation and jeopardize the safety of all users.” Durov’s commitment to transforming Telegram’s moderation into a positive force comes in response to recent investigations into the app’s alleged use for criminal activities such as fraud, money laundering, and child pornography. By removing features that have…

Russian Shooting of Ukrainian Servicemen Investigated by Ukrainian Prosecutors Ukrainian prosecutors have launched an investigation into the alleged shooting of three surrendering Ukrainian servicemen by Russian troops on the eastern front near Pokrovsk. This incident, which took place after Russian troops attacked a trench used by the Ukrainian military for cover on Aug. 27, is just one of many similar incidents reported by Ukraine. According to the Prosecutor General’s office, the soldiers came out of the damaged shelter, knelt down, and held their hands behind their heads when the Russians opened fire. Ukrainian drone footage obtained by CNN shows the…

Amid a challenging market environment, Kulicke and Soffa Industries Inc. (KLIC) stock has plummeted to its lowest point in a year, now trading at $38.52. As a major player in the semiconductor equipment sector, the company has seen a significant drop of 21.86% in its stock price over the past year. This decline mirrors wider industry trends and investor sentiment, as the sector grapples with supply chain issues and fluctuating demand. Despite the current setbacks, long-term investors are closely monitoring the company’s performance for signs of recovery and potential growth opportunities. In recent announcements, Kulicke & Soffa Industries Inc. revealed…

Coinbase Faces Legal Storm: Judge Rejects Dismissal Bid in Shareholder Class Action By Jonathan Stempel (Multibagger) – In a significant legal development, a federal judge has denied Coinbase’s (NASDAQ:) motion to dismiss a proposed class action lawsuit filed by shareholders. The shareholders allege that the largest U.S. cryptocurrency exchange misled them about the likelihood of facing legal actions from the U.S. Securities and Exchange Commission (SEC). Key Rulings and Repercussions U.S. District Judge Brian Martinotti, presiding in Newark, New Jersey, made the ruling 15 months after the SEC’s June 6, 2023, civil lawsuit against Coinbase, accusing it of operating an…

As the world’s best investment manager and financial market’s journalist, I bring you breaking news from Toronto. According to the latest Ivey Purchasing Managers Index data, Canadian economic activity experienced a contraction in August for the first time in over a year. This comes as employment growth slowed and price pressures increased. The seasonally adjusted index dropped to 48.2 in August from 57.6 in July, marking the first time since July 2023 that the index has fallen below the 50 threshold, indicating a decrease in economic activity. The Ivey PMI is a key indicator that measures the month-to-month variation in…

Kamala Harris Campaign Raises $361 Million in August, Outpacing Trump – What This Means for the Election By Trevor Hunnicutt In a major fundraising win, Kamala Harris’s presidential campaign and the Democratic Party brought in a whopping $361 million in August, giving her a significant cash advantage over her Republican rival Donald Trump as the race heats up in the final two months before Election Day. With a total of $404 million in cash on hand at the beginning of September, Harris is well-positioned to make a strong push in the upcoming election. On the other hand, Trump’s campaign team…

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As the financial markets continue to face uncertainty, Diana Shipping Inc. (NYSE:) has seen its stock price plummet to a 52-week low of $2.34. The dry bulk shipping company has experienced a challenging year, with a significant decline of -27.06% in the past 12 months. Investors are closely monitoring Diana Shipping’s performance as it navigates through a complex global shipping landscape marked by fluctuating demand and freight rates. The company’s current position at a 52-week low highlights a crucial moment as it seeks to return to profitability and growth in a tough economic environment. In recent developments, Diana Shipping Inc.…