Author: Multibagger News

LONDON (Reuters) – In the run up to announcing provisional tariffs on Chinese-made electric vehicles, the European Commission in April released a 712-page report on the many layers of subsidies it argues the Chinese government provides to domestic firms. The report is designed for anti-dumping cases, but trade experts see it as a supporting document for its anti-subsidy investigation into EVs and as a signal to both China and reluctant European Union member states that it means business. It also leaves the door open to future cases. Here are some of the key findings from the report: Support for state-owned…

On Wednesday, Baird maintained an Outperform rating on Nikola Corp . (NASDAQ:) stock but significantly reduced the shares target to $14 from the previous $60. Nikola Corp. has reportedly surpassed its second-quarter delivery expectations, with a total of 72 fuel-cell electric vehicles (FCEVs) handed over to customers. This figure exceeds both the company’s guidance of 50 to 60 units and Baird’s estimate of 55 units. The company’s second-quarter performance, particularly the repeat business, indicates early signs of success for Nikola’s products with certain customers. Baird’s note underscores the importance of Nikola’s liquidity for the remainder of the year, suggesting that…

By Kevin Buckland and Amanda Cooper TOKYO/LONDON (Reuters) – The yen hit a fresh 38-year trough against the dollar and a record low to the euro on Wednesday, as the currency continued its downward grind, with Japanese officials largely remaining on the sidelines amid the risk of intervention. The dollar edged lower against a basket of currencies, extending Tuesday’s decline after dovish comments from Federal Reserve Chair Jerome Powell overshadowed a robust domestic jobs report. The euro remained resilient, helped by a stubbornly high local inflation reading on Tuesday that suggested the European Central Bank would take its time before…

Investing.com– Bitcoin price slid lower on Wednesday, extending losses seen earlier in the week as traders remained largely averse to the token amid concerns that distributions from the defunct exchange Mt Gox will spark a mass sales of the token. Sentiment towards broader crypto markets also remained dour amid uncertainty over U.S. interest rates, with a recent drop in the dollar doing little to deter weakness in the sector. fell 4% in the past 24 hours to $60,339.1 by 08:20 ET (12:20 GMT). The world’s biggest cryptocurrency was nursing steep losses through June and remained squarely within a trading range…

By Arunima Kumar (Reuters) -Oil prices steadied on Wednesday after trading higher as industry data showed a bigger-than-expected draw in stockpiles, with gains capped by economic headwinds from China and the euro zone. futures inched up 15 cents, or 0.17%, to $86.39 per barrel at 1210 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 11 cents or 0.13% to $82.92 per barrel. On Tuesday, both benchmarks rose to their highest since the end of April but closed down on the day as fears faded that Hurricane Beryl would disrupt production in the Gulf of Mexico. U.S. crude oil inventories…

U.Today – Michael Dell, CEO of Dell Technologies (NYSE:), recently posted a thought-provoking poll on X (formerly Twitter), asking the community to weigh in on what they considered the most important thing between the options: AI, , or love and relationships. This simple yet profound question piqued the interest of the crypto community, with a larger portion of respondents going for Bitcoin. The poll, which seemed to be a casual inquiry, caught the eye of Michael Saylor, MicroStrategy cofounder and CEO who reacted to the survey with a heart emoji. Saylor would later post an epic response to the Dell…

On Wednesday, Citi adjusted its outlook for Ardelyx, Inc (NASDAQ: NASDAQ:), reducing the biopharmaceutical company’s price target to $10 from $14, while maintaining a Buy rating on the stock. The revision comes in the wake of increased commercial uncertainty surrounding Ardelyx’s hyperphosphatemia treatment, XPHOZAH™. The firm’s analysis recognized that recent disclosures regarding the TDAPA strategy for XPHOZAH™ have significantly impacted the projected sales for the treatment. Consequently, this has led to a substantial decrease in the price target. Despite the market’s negative response to this news, which saw Ardelyx’s stock price fall by 30% on Wednesday, Citi reaffirms its Buy…

Analysts at Bank of America revealed they are adding Dell to their US 1 List. The list is a a collection of the bank’s best investment ideas. It is made up of stocks from the bank’s universe of Buy-rated, US-listed names (including ADRs). BofA also renewed Amazon (NASDAQ:) after 52 weeks on the list and removed Amphenol Corp (NYSE:) from the list, although it still remains Buy-rated. In a note to clients at the end of May, Bank of America raised its target price for Dell shares to $180 from $130, stating they see a positive setup for the company…

By Sarupya Ganguly BENGALURU (Reuters) – The euro will weaken modestly against the U.S. dollar this month before strengthening by year-end, despite financial markets pricing two more European Central Bank interest rate cuts by then, according to currency strategists polled by Reuters. Having generally underperformed analyst expectations in Reuters surveys over the past year, the euro has fallen more than 1% since French President Emmanuel Macron called for a surprise snap election on June 9. It then gained only slightly as Marine Le Pen’s National Rally party won a smaller share of the vote than some polls had initially projected,…

U.Today – maximalist Michael Saylor, who cofounded MicroStrategy business intelligence behemoth and is currently the company’s executive chairman, has taken to his X social media (formerly widely known as Twitter) account to deliver a Bitcoin message to the global community of Bitcoiners. Michael Saylor shares “BTC optimistic” messageThe world’s leading cryptocurrency is struggling to break above $63,000, which it lost on Monday for the third time recently and, prior to that, it had plunged from the $69,800 level on June 12.Saylor tweeted: “Be Different,” using the Bitcoin symbol for the letter “B.” Michael Saylor remains a strong believer in Bitcoin…