Author: Multibagger News

WASHINGTON (Multibagger) – A measure of U.S. services sector activity slumped to a four-year low in June amid a sharp drop in orders, potentially hinting at a loss of momentum in the economy at the end of the second quarter. The Institute for Supply Management said its nonmanufacturing purchasing managers (PMI) index dropped to 48.8 last month, the lowest level since May 2020, from 53.8 in May. It was the second time this year that the PMI had dropped below 50, which indicates contraction in the services sector. Economists polled by Multibagger had forecast the services PMI slipping to 52.5.…

By Alvise Armellini ROME (Multibagger) – U.S. President Joe Biden must drop his re-election bid or Donald Trump is sure to return to the White House, former Italian prime minister Matteo Renzi said on Wednesday. Renzi, 49, led a centre-left government from 2014-2016 and was close to the administration led by former President Barack Obama, in which Biden was vice president. He was offered a lavish state dinner at the White House in 2016. “Biden will go down in history as a U.S. president who did many things that had a great impact,” Renzi told Multibagger. “At the same time,…

BLOOMINGTON, MN – Scott J. Robinson, the Chief Financial Officer of Donaldson Co Inc (NYSE:DCI), a leading provider of industrial and commercial air purification equipment, has completed a series of stock transactions, according to a recent SEC filing. On July 2, 2024, Robinson sold 37,600 shares of common stock at an average price of $70.97, netting a total of $2.67 million. On the same day, Robinson also exercised options to buy an equivalent number of shares, 37,600, at a price of $45.43 per share, totaling approximately $1.71 million. This transaction was part of a pre-arranged trading plan and involved common…

ROME/BERLIN (Multibagger) -Italian defence group Leonardo and German peer Rheinmetall have agreed to form a joint venture to produce tanks and other land defence systems, the two companies said on Wednesday. The first goal of the 50-50 enterprise, which will be headquartered in Italy, will be to develop the Italian Main Battle Tank and Armoured Infantry Combat System for the Italian Army, they said in a joint statement. Earlier on Wednesday, German business daily Handelsblatt reported that the Italian government planned to buy hundreds of tanks from Rheinmetall in what would be the group’s biggest ever order, valued at around…

By Lucia Mutikani WASHINGTON (Multibagger) -First-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market. Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year, with financial markets hopeful that the easing cycle could start in September. Fed Chair Jerome Powell said on Tuesday that the economy was back on a “disinflationary path,” but stressed policymakers needed more data before…

By Steve Holland, Moira Warburton and Jeff Mason WASHINGTON (Multibagger) -Some elected Democrats loyal to President Joe Biden raised fresh questions on Tuesday about his 2024 re-election bid, with one calling for him to step aside, a shift after many defended him in the wake of last week’s shaky debate performance. Whether Biden continues his 2024 bid for president after his halting debate performance against Republican presidential candidate Donald Trump is largely his decision, Democrats and political strategists have said.  But Biden is under pressure. Some donors have called for him to step aside, and other Democrats are worrying openly…

U.Today – has surpassed in fee income over the past year by an epic 100%, according to the newest report from Lookonchain. Thus, its network has recorded $2.73 billion in fee income, the most in the industry. Bitcoin, in second place, generated $1.3 billion. Closing the top three is Tron Network, with almost $460 million. Other networks also contributed to the overall fee income landscape. generated $241.3 million, Binance’s chain accumulated $176.6 million and recorded $68.83 million. Additionally, the zkSync Era earned nearly $60 million, Optimism $40.4 million and Polygon $23.9 million. As the data highlights, Ethereum has a significant…

MEDINA, Ohio – RPM International Inc. (NYSE: NYSE:), a leader in specialty coatings and sealants, announced today that its board of directors has declared a quarterly cash dividend. Shareholders of record as of July 17, 2024, will receive a dividend of $0.46 per share on July 31, 2024. This announcement follows RPM’s achievement in October 2023 when the company marked its 50th consecutive year of cash dividend increases, a milestone that less than 0.5% of U.S. public companies have reached. With this record, RPM joins a select group of 41 other companies that have achieved a longer streak of growing…

Investing.com — Investors savvy enough to buy the multi-month dip in Tesla (NASDAQ:) stock at the start of July are already reaping hefty results. In just two market sessions this month, the EV giant jumped an incredible 16.8% and appears set to keep on gaining. Such is the case for our premium users, who subscribed to our monthly updated AI-picked list of winners for less than $8 dollars a month. After an impressive year-to-date rally, in which early picks on gainers such as Vistra Energy Corp (NYSE:) (+127% this year), Super Micro Computer (NASDAQ:) (+194% this year), and MicroStrategy Incorporated…

OTTAWA (Multibagger) – Canada named a woman as the country’s top soldier for the first time ever on Wednesday, continuing a push by Prime Minister Justin Trudeau to appointment women to the most senior jobs. Lieutenant-General Jennie Carignan, in charge of efforts to stamp out ingrained sexism and misconduct in the armed forces, will take over on July 18 as chief of the defense staff. Carignan, originally a military engineer, has commanded troops in Afghanistan, Bosnia-Herzegovina, Iraq and Syria during her 35 years in the army. “Over the course of her career, her exceptional leadership qualities, commitment to excellence, and…