Author: Multibagger News

As the world’s best investment manager and financial market journalist, I bring you the latest news on Canadian retail sales. According to Statistics Canada, retail sales in Canada fell by 0.3% in June from May, reaching C$65.73 billion ($48.37 billion). This decline was mainly driven by lower sales at motor vehicle and parts dealers. However, there is good news on the horizon, as sales are expected to increase by 0.6% in July, as per a flash estimate by the agency. It’s important to note that in June, sales were down in four of nine subsectors, which accounted for 50.4% of…

Investors and financial markets around the world are closely watching the recent court convictions in southern Russia related to a mass anti-Israel protest last October. Five men have been sentenced to more than six years in prison each, marking the first convictions in connection to the protest at an airport in the predominantly Muslim Dagestan region. The men, who received sentences ranging from just over six years to nine years for engaging in rioting, did not admit guilt, according to the court in the Krasnodar region. One protester was also found guilty of committing violence against a government official. The…

Dubai, United Arab Emirates, August 23rd, 2024, Chainwire Bybit, the world’s second-largest cryptocurrency exchange, has created a buzz in the industry with its groundbreaking Blinks feature. Developed in collaboration with Solana, Blinks allows users to trade, buy, and swap cryptocurrencies directly within the Twitter ecosystem, bridging the gap between Web2 and Web3. The launch event for Blinks was a massive success, attracting 1.7 million viewers and setting a new all-time high for Bybit Web3 livestreams. The campaign generated extraordinary engagement, with over 60,000 participants vying for exclusive digital art rewards. Lily Liu, President of the Solana Foundation, praised the integration…

Citi Reaffirms Sell Rating on Hennes & Mauritz AB, Predicts Modest Sales Growth in Q3 2024 Citi has reaffirmed its Sell rating on Hennes & Mauritz AB (HMB:SS) (OTC: HNNMY) with a SEK143.00 price target. The bank’s analysis indicates a modest +1% constant currency sales growth for the third quarter of 2024, which is lower than the consensus expectation of +3.2%. Despite easier comparisons in July and August, Citi forecasts a decline in earnings before interest and taxes (EBIT) compared to the consensus estimates for both Q3 and the full year 2024. InvestingPro Insights: – H&M has a market capitalization…

Title: "Ross Stores (ROST) Q2 2024 Earnings: Stunning Growth and Strategic Insights for Investors" Ross Stores (ROST) Achieves Impressive Q2 2024 Performance, Outpacing Market Expectations Ross Stores, Inc. (NASDAQ: ROST) continues its upward trajectory, reporting stellar results for the second quarter of 2024. The off-price retailer showcased a 7% increase in total sales, reaching $5.3 billion, alongside a 4% rise in comparable store sales. Earnings per share (EPS) stood at a robust $1.59, compared to $1.32 in the same period last year, bolstered by an improved operating margin of 12.5%. With the addition of 24 new stores and a positive…

Investing.com: Canadian Factory Sales Likely Rose 1.1% in July, Boosted by Petroleum and Chemical Sectors As the world’s best investment manager and financial market journalist, I bring you the latest flash estimate from Statistics Canada. Canadian factory sales are expected to have increased by 1.1% in July compared to June, with significant growth seen in petroleum and coal products, as well as chemical subsectors. This estimate is based on a weighted response rate of 68.1%, slightly lower than the average response rate of 94.4% over the past 12 months. It’s important to note that all figures are seasonally adjusted, providing…

The United Nations committee has called on Britain to take action against hate speech and xenophobic rhetoric that contributed to violent summer riots. Find out more about the committee’s concerns and recommendations in this article. By Emma Farge GENEVA (Multibagger) – A U.N. committee urged Britain on Friday to pass measures to curb hate speech and xenophobic rhetoric which it said had played a direct role in fuelling summer riots. Racist unrest involving far-right groups erupted at anti-immigration protests across Britain in August after false information circulated online that the suspect in a deadly attack on young girls was an…

Kaixin Holdings Amends Form 6-K: Strategic Reverse Stock Split Update Kaixin Holdings, a leading retail auto dealer and service provider, has filed a significant amendment to its previous Form 6-K with the Securities and Exchange Commission. This crucial update, released today, outlines the company’s revised plans for a reverse stock split and adjustments to its share capital. The initial proposal, presented on August 13, 2024, detailed Kaixin Holdings’ intention to convene an Extraordinary General Meeting on October 1, 2024, to deliberate and vote on various corporate actions. In the amended filing, Kaixin Holdings has made key changes to the number…

Peloton Interactive Inc. Q4 FY2024 Earnings: Strategic Moves and Financial Health – What Investors Need to Know Overview Peloton Interactive Inc. (NASDAQ: PTON) recently held its fourth-quarter fiscal year 2024 earnings call, laying out its strategic priorities and financial performance. The company, in the midst of selecting a new CEO, has reported positive free cash flow and adjusted EBITDA for two consecutive quarters, signaling a promising financial trajectory. Key Financial Highlights Debt Refinancing: Peloton successfully refinanced its debt, reducing it by $200 million and extending maturities to 2029. Revenue and Cash Flow: The company exceeded revenue expectations with a total…

Title: “AlpineMacro Analysis: Why the Fed Must Cut Rates to 3% for a Soft Landing – SEO Optimized Content” As the top investment manager and financial market journalist, I bring you the latest insights from AlpineMacro on the necessity for the U.S. Federal Reserve to reduce interest rates to 3% by the end of next year. According to AlpineMacro analysts, the softening U.S. labor market and the potential undershooting of the Fed’s 2% inflation target highlight the need for rate cuts. AlpineMacro’s analysis points to the importance of the Fed’s response to prevent a recession and ensure a soft landing…