Author: Multibagger News

The first presidential debate sparked strong reactions, and Evercore analysts have been closely monitoring the responses from pundits, the press, President Biden’s campaign, senior Democrats loyal to Biden, financial support trends, and particularly the polls. After assessing these factors for the past two days, Evercore now believes there is a chance of more than 60% that President Joe Biden may withdraw from the race in the near future. Although pundits and the press remain highly critical of the President, significant attention has been drawn to statements from staunch allies like Pelosi and Clyburn, who publicly acknowledged on Tuesday that there…

FRANKFURT (Multibagger) – Solid container shipping demand has driven up freight rates over the past two months, Hapag-Lloyd chief executive (DE:) Rolf Habben Jansen said in a call with reporters on Wednesday. Attacks on vessels by Yemen-based Houthi militants have led shipping firms to avoid the Red Sea that connects with the Suez Canal and instead use a longer route around southern Africa, a situation whose end was hard to predict, he said. “We have seen solid demand, particularly since May 1, that meets with limited availability, also because of the Red Sea situation, that’s why spot rates are going…

BERLIN (Multibagger) – A solid rise in business activity in June ended a positive second quarter for the German service sector, albeit with the rate of expansion easing slightly, a survey showed on Wednesday. The HCOB final services Purchasing Managers’ Index eased to 53.1 in June from to 54.2 in May, slightly below a preliminary flash estimate of 53.5 but above the 50.0 mark that separates growth from contraction for a fourth straight month. Growth in new business and employment also slowed, while firms’ expectations for the coming year slipped to a five-month low, the survey showed. “The services sector…

WASHINGTON (Multibagger) -U.S. President Joe Biden has told an ally that he knows he may not be able to salvage his candidacy if he cannot convince the public in the coming days that he is up for the job after his debate performance last week, the New York Times reported on Wednesday. After the report was published, White House spokesperson Andrew Bates wrote on social media: “This claim is absolutely false”. The Times quoted the ally as saying that Biden “knows if he has two more events like that, we’re in a different place” by the end of the weekend.…

WASHINGTON – CLEAR (NYSE: YOU), an authorized provider for TSA PreCheck® enrollments, has broadened its service reach by inaugurating six additional enrollment centers across various U.S. airports. These new facilities are part of the company’s strategy to enhance customer convenience by offering more locations and extended operating hours for those seeking to enroll or renew their membership in the Trusted Traveler program. The expansion brings the total number of CLEAR’s TSA PreCheck enrollment locations to 33 nationwide. The latest airports to feature these services include Boise Airport (BOI), Dallas Love Field Airport (DAL), Chicago Midway International Airport (MDW), Ontario International…

Congresswoman Nancy Pelosi and her husband Paul made adjustments to their investment portfolio last month, new filings showed. Pelosi, one of the most closely monitored politicians when it comes to investing, bought shares of two semiconductor giants, Nvidia (NASDAQ:) and Broadcom (NASDAQ:). Specifically, the former Speaker of the House purchased 10,000 shares of Nvidia, valued between $1 million and $5 million, and 20 call options on Broadcom with an $800 strike price, expiring on June 20, 2025, also valued between $1 million and $5 million. Nvidia and Broadcom have both witnessed substantial gains this year, with their shares up 154%…

WASHINGTON (Multibagger) – New orders for U.S.-manufactured goods unexpectedly fell in May, while business spending on equipment appeared weaker than initially thought, government data showed on Wednesday. Factory orders dropped 0.5% after rising 0.4% in April, the Commerce Department’s Census Bureau said. Economists polled by Multibagger had forecast factory orders would gain 0.2%. Manufacturing, which accounts for 10.3% of the U.S. economy, is under pressure from higher interest rates and softening demand for goods. Government data last week showed manufacturing contracted at a 4.3% annualized rate in the first quarter, with most of the decline coming from long-lasting manufactured goods.…

By Steve Holland MCLEAN, Virginia (Multibagger) – U.S. President Joe Biden on Tuesday acknowledged his performance during last Thursday’s presidential debate wasn’t his best, but blamed it on jet lag after two overseas trips earlier in June. Biden has faced mounting questions about his 2024 reelection bid after last week’s shaky debate performance, with one House of Representatives fellow Democrat on Tuesday publicly calling on him to withdraw from the race. Speaking at a campaign event in McLean, Virginia, on Tuesday evening, Biden admitted the debate against former President Donald Trump, his Republican rival, did not go well. “I didn’t…

SAN DIEGO – Skye Bioscience, Inc. (NASDAQ:SKYE), a clinical-stage biopharmaceutical company, has announced key changes to its Board of Directors and the upcoming launch of a Phase 2 clinical trial for its drug candidate Nimacimab. The company appointed Karen Smith, MD, Ph.D., MBA, LLM, to its board, bringing extensive global biotech and biopharma leadership experience. This strategic move comes as board members Keith Ward, Ph.D., and Praveen Tyle, Ph.D., are set to resign effective August 1, 2024. Dr. Smith’s career spans over two decades and includes leadership roles in companies such as Allergan (NYSE:), AstraZeneca (NASDAQ:), and Bristol-Myers Squibb (NYSE:).…

By Krystal Hu (Multibagger) -U.S. venture capital funding surged to $55.6 billion in the second quarter, marking the highest quarterly total in two years, according to PitchBook data published on Wednesday. The latest figure shows a 47% jump from the $37.8 billion U.S. startups raised in the first quarter, largely driven by significant investments in artificial intelligence companies, including $6 billion raised by Elon Musk’s xAI and $1.1 billion raised by CoreWeave. Investors’ ongoing excitement around building and adopting AI technology, which could potentially bring significant returns, has fueled the recovery of venture capital (VC) funding. After reaching a record…