UBS CEO Sergio Ermotti recently expressed his concerns about the potential intensification of market volatility in the second half of the year. While global equities experienced sharp sell-offs due to weak economic data in the U.S., Ermotti stated that he does not believe the country is heading into a recession. Despite the uncertainty surrounding the
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Recently, Kellanova saw its shares rise by over 6% in premarket trading after agreeing to be acquired by snackmaker Mars for $83.50 per share in cash. This deal, valued at approximately $36 billion, is expected to close in the first half of 2025. This acquisition marks a significant move in the food industry, consolidating power
Cisco Systems made waves in after-hours trading with a 6% jump in its stock price. The networking company reported an earnings and revenue beat for its fiscal fourth quarter, which can be seen as a positive sign. However, Cisco also announced that it will be cutting 7% of its global workforce. Additionally, both revenue and
The recent data showing U.S. inflation slowing down has had a significant impact on the currency markets, particularly on the value of the dollar. The euro, for instance, has reached an eight-month high in response to this data. The market is now speculating on the possibility of the Federal Reserve lowering borrowing costs in the
The U.S. stock market saw a slight increase in evening trading as a result of lower interest rate expectations due to cooling consumer inflation in July. This trend was further reinforced by softer-than-expected inflation readings earlier in the week, which fueled speculation that the Federal Reserve would start cutting interest rates starting in September. Investors
Starbucks has recently made a bold move by appointing Brian Niccol, the former CEO of Chipotle Mexican Grill, as the new CEO and Chair. This decision has been accompanied by a significant increase in Niccol’s compensation package to entice him to join the embattled coffee chain. Starbucks has disclosed that the majority of Niccol’s pay
Brinker International saw its stock take a hit of around 12% following a weaker-than-expected profit forecast for the full year. The Chili’s parent company also reported disappointing fiscal fourth-quarter earnings, with adjusted earnings per share falling below the StreetAccount consensus estimate. Looking ahead, Brinker anticipates earnings per share for fiscal 2025 to be between $4.35
Recently, U.S. District Judge Reed O’Connor recused himself from overseeing X’s lawsuit against advertisers after it was revealed that he owned shares of Tesla. The judge made this decision on August 13th, leaving the case against the World Federation of Advertisers filed by X, formerly known as Twitter, in limbo. The reasons behind O’Connor’s recusal
Chipotle stock plunged by 10% on Tuesday following the announcement that CEO Brian Niccol would be stepping down from his position to assume the role of CEO at Starbucks. The stock ended the day down 7%, reflecting investor concerns about the leadership transition. Niccol had been with Chipotle since March 2018 and oversaw an impressive
The Brazilian real has been facing accelerated weakening in recent times, with a nearly 12% depreciation against the U.S. dollar this year. Central bank chief Roberto Campos Neto attributes this depreciation to specific Brazil-related factors and heightened risk perceptions. Despite this, there has been some relief in the real’s value following the central bank’s indication