Author: Multibagger News

Breaking News: U.S. Stocks Soar to End Strongest Week of 2024 – Market Rebounds from August Downturn In a remarkable turn of events, U.S. stocks surged on Friday, wrapping up the most powerful week of 2024 as the market bounced back from the sharp decline witnessed earlier in August. The S&P 500 edged up 0.2% to 5,554.25, the Nasdaq rose 0.21% to 17,631.72, and the Dow gained 96 points, or 0.24%, closing at 40,659.76. For the week, the S&P 500 skyrocketed nearly 3.9%, its best performance since November 2023. The Nasdaq advanced by 5.2%, and the Dow added 2.9%. Positive…

Celcuity (CELZ) Q2 2024 Earnings: A Deep Dive into Financial Performance and Clinical Progress Key Financial Insights and Clinical Updates Celcuity Inc. (NASDAQ: CELZ), a clinical-stage biotechnology firm, reported a net loss of $23.7 million for Q2 2024, which increased from $14.6 million the same period last year. Despite this widened loss, the company has made significant advancements in its clinical programs, particularly with its lead candidate, gedatolisib. The drug is currently under evaluation in two Phase III trials for treating advanced breast cancer and metastatic castration-resistant prostate cancer. Additionally, Celcuity raised $129 million through equity and debt offerings to…

Sydney, Australia, August 19th, 2024 With over AUD$2 billion in total sales, Easy Crypto introduces a beginner-friendly wallet for Australians entering the world of cryptocurrency. Easy Crypto, the largest non-custodial crypto exchange in New Zealand, expands its reach to Australia with a user-friendly wallet designed for newcomers to the crypto space. The Easy Crypto Wallet offers a seamless experience for managing various cryptocurrencies in one app. While existing crypto wallets cater to experienced investors, Easy Crypto’s wallet focuses on simplifying the buying, selling, and storing processes for beginners. The increasing demand for crypto wallets aligns with the growing interest in…

Estee Lauder (NYSE: EL) Stock Analysis: CEO Transition and Lower Earnings Guidance Disappoint Investors Citi maintains Buy rating and $110.00 price target for Estee Lauder despite disappointing fiscal year 2025 earnings guidance and CEO Fabrizio Freda’s retirement announcement. Estee Lauder’s Q4 performance exceeded expectations with adjusted EPS of $0.64 and 8% organic sales growth. However, the stock is expected to decline due to softer guidance and CEO transition news. Key Insights: – Estee Lauder’s market cap: $34.05 billion – Gross profit margin: 70.77% – Dividend yield: 2.78% – P/E ratio: 53.12 InvestingPro Tips: – Estee Lauder has raised its dividend…

U.S. Stock Market Today: Key Insights & Future Projections Amid Fed Meeting Minutes and Jackson Hole Symposium Investing.com — U.S. stocks edged higher on Monday, building on last week’s strong gains as investors await the release of the minutes from the latest Federal Reserve meeting and the highly anticipated Jackson Hole central bank symposium for critical clues on future monetary policy. Wall Street Indices Update By 09:35 ET (13:35 GMT), the Dow Jones Industrial Average was up 90 points, or 0.2%, the S&P 500 traded 9 points, or 0.2%, higher, and the Nasdaq Composite climbed 8 points, or 0.1%. Recession…

Immunovant Stock Analysis: Piper Sandler Maintains Overweight Rating with $57 Price Target As the world’s best investment manager, I bring you the latest insights on Immunovant (NASDAQ:IMVT) stock. Piper Sandler has reiterated its Overweight rating on Immunovant, with a price target of $57.00. This endorsement comes at a crucial time for the biopharmaceutical company, as it gears up for significant developments in the treatment of Graves’ disease. Immunovant specializes in developing treatments for autoimmune disorders and is set to enter a period filled with catalysts. Graves’ disease, a thyroid condition with a high unmet need for effective treatments, is at…

GM Announces Over 1,000 Job Cuts in Strategic Shift to Simplify Operations and Accelerate Innovation (Multibagger) – In a bold move to streamline its operations and focus on high-impact investments, General Motors (GM) has announced the layoff of over 1,000 salaried employees across its software and service units worldwide. This decision, initially reported by CNBC, underscores GM’s commitment to building a more agile and efficient future. In a statement confirming the layoffs, GM emphasized the necessity of "simplifying for speed and excellence, making bold choices, and prioritizing investments that will have the greatest impact." This strategic realignment includes the elimination…

World’s Best Investment Manager Predicts U.S. Federal Reserve to Cut Interest Rates at Remaining 2024 Meetings According to a recent poll of economists by Multibagger, the U.S. Federal Reserve is expected to cut interest rates by 25 basis points at each of the remaining three meetings of 2024. This is one more reduction than previously predicted, as a recession is unlikely. The change in Fed rate cut calls comes after a weaker-than-expected July U.S. jobs report and a brief market sell-off. Interest rate futures traders initially priced in up to 120 basis points of reductions for 2024, but that has…

“ElevenLabs Launches AI-Powered Reader App Supporting 32 Languages Worldwide | Latest Update on Unicorn Startup’s Revolutionary Tool | Exclusive Insights” ElevenLabs, a groundbreaking startup revolutionizing the world of synthetic voices with AI technology, has announced the global availability of its Reader app. This innovative app, initially introduced in the U.S., the U.K., and Canada, allows users to effortlessly listen to any text content in multiple languages and voices. With support for languages such as Portuguese, Spanish, French, Hindi, and more, ElevenLabs is changing the game in text-to-speech technology. Having recently secured $80 million in funding from top investors like Andreessen…

BeiGene (BGNE) Receives Buy Rating with $254 Price Target: Analysts Optimistic on Biotech Company’s Growth Potential TD Cowen, a leading investment firm, has reaffirmed its positive outlook on BeiGene, Ltd. (NASDAQ:BGNE), maintaining a Buy rating and setting a price target of $254.00 for the company’s stock. The endorsement comes after a recent visit to BeiGene’s state-of-the-art biologics manufacturing and research facility in New Jersey, which represents an $800 million investment. The facility, spanning 42 acres with an 8,000-liter capacity, is currently capable of producing 2 million doses per year. Analysts anticipate future expansions that will double capacity to 16,000 liters…