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Stock Futures Dip Going Into Last Trading Day Of 2021

Stock market news to know ahead of the final trading session of the year.
The post Stock Futures Dip Going Into Last Trading Day Of 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Stock Market Futures Edge Lower Going Into New Years Eve Trading Day

A popular question among investors today could be “Is the stock market open on New Year’s Eve?” Well, the answer to that question for this year is a yes. In fact, it will be the first time in a decade this is happening because of NYSE Rule 7.2. Getting back to business, stock market futures are tilting lower on early morning trading this New Year’s Eve. This comes after another record-setting session by the S&P 500 after it hit its 70th record close of 2021. Despite the recent volatility in markets over the past month, major stock indices are doing well year-to-date.

Sharing this sentiment is Insigneo Financial Group CIO, Ahmed Riesgo. He said, “Did the market have a great year in 2021? Most people would say absolutely.” Riesgo continued, “I think what you’re going to get next year is that internal rotation where these few stocks that performed very well in 2021 are going to underperform, perhaps drag the market down a bit, while the vast majority of stocks will shoot up.” As a result, he sees this leading to “around mid-to single-digit returns” for the S&P 500 in 2022.

Not to mention, there are still companies hard at work in the stock market today as well. Hence, the collection of exciting stock market news to consider now. As of 7:41 a.m. ET, the Dow, S&P 500, and Nasdaq futures are trading lower by 0.20%, 0.16%, and 0.16% respectively.

AMD To Secure Acquisition Of Xilinx By Q1 2022

Among the latest pieces of news among semiconductor stocks now would be from Advanced Micro Devices (NASDAQ: AMD). Just yesterday, the company provided a crucial update regarding its ongoing acquisition of fellow semiconductor manufacturer Xilinx (NASDAQ: XLNX). Namely, AMD now expects to close the deal by the first quarter of 2022, instead of this year.

best tech stocks to buy (AMD stock)

As a result, AMD stock dipped by over 2% during intraday trading yesterday. Now, the company is still amidst conversations with regulators and is still working to receive all the necessary approvals. According to AMD, its ongoing talks “continue to progress productively” and the company is “making good progress” on this front.

Aside from these points, the overall conditions of the deal remain the same. For a refresher, AMD is acquiring Xilinx in an all-stock transaction. The likes of which is currently valued at about $35 billion. By AMD’s estimates, the combination would create a semiconductor industry goliath to be reckoned with. Seeing as Xilinx is the pioneer behind the fabless semiconductor manufacturing model, this is understandable. Safe to say, AMD is hard at work ensuring this significant upgrade to its portfolio goes smoothly. As it aims to do so, some investors may consider buying into the current weakness in the company’s shares.

[Read More] Best Lithium Battery Stocks To Buy Now? 4 To Know

Exxon Projects Solid Growth In Upcoming Quarterly Profits

Exxon (NYSE: XOM) could be among the names making waves in the stock market today. For the most part, this would be on account of its latest 8-K, earnings consideration filing. In other words, the company provided an update on its earnings outlook for Q4. Notably, Exxon is expecting rising natural gas prices to boost its earnings in the upcoming quarter by $0.7 billion to $1.1 billion. Overall, the largest U.S. oil producer expects a return to annual profit for 2021 with operating profits growing by up to $1.9 billion. While the actual figures will only be released on Feb 1, 2022, this could put XOM stock in focus today.

epicenter stocks (XOM stock)

To put things into perspective, should Exxon’s estimates be accurate, it would mark a major win for the company. After all, Exxon was hit with a massive loss of $22.4 billion the prior year. This would mainly be due to falling oil prices, and lower refining margins alongside other pandemic-related pressures.

According to Exxon, a combination of cost cuts and energy price gains have and continue to fuel its momentum. Looking forward, Wall Street currently expects Exxon to rake in an earnings per share of $1.76 for the current quarter. With this being a far cry from its earnings of $0.03 per share the same quarter last year, things appear to be looking up for Exxon. Whether or not this translates to long-term gains for XOM stock remains to be seen.

[Read More] Best Undervalued Stocks To Buy? 4 EV Stocks To Know

Stern CDC Warning To Vaccinated Holiday Goers Sends Cruise Line Stocks Diving

Elsewhere, cruise line stocks appear to be having a turbulent time going into the new year. Accordingly, this could be the result of the U.S. Centers for Disease Control’s (CDC) latest recommendations for eager cruisers. In detail, the CDC is raising its travel alert for those looking to set sail this holiday season. So much so that cruise ship travel is now at the highest-risk level in its books. This is not surprising seeing as the latest Omicron variant is highly infectious and cruises are mostly close quarters environments.

Because of all this, cruise line operators such as Carnival (NYSE: CCL), Norwegian Cruise Lines (NYSE: NCLH), and Royal Caribbean (NYSE: RCL) ended lower yesterday. In response, the Cruise Lines International Association (CLIA) trade group notes that the CDC’s current stance is “perplexing”. The CLIA highlights that “no setting can be immune from this virus”. Nevertheless, some could see the current dips in cruise line stocks as a buying opportunity. Not forgetting, the demand for cruise services remains strong even as consumers adhere to pandemic restrictions. In theory, this could see 2022 bookings, that have exceeded 2019 levels, be shifted towards later seasons. With all that said, some could be considering the case for cruise line stocks in the stock market today.

[Read More] Best Dividend Stocks To Buy In 2022? 5 For Your Watchlist

MicroStrategy Adds Over 1,900 Bitcoins To Its Reserves

While crypto investors consider the recent $250 billion crypto market decline, MicroStrategy (NASDAQ: MSTR) is making moves. Evidently, the business intelligence firm revealed its latest investment on the crypto front just yesterday. All in all, the company bought a whopping 1,914 bitcoins throughout December. This adds up to about $94.2 million in cash.

top tech stocks (MSTR stock)

Moreover, this purchase comes in at an average price of $49,229 per Bitcoin. To highlight, the company’s funds for this purchase are from its ongoing stock offering. Thus far, it has raised approximately $1 billion from investors, according to MicroStrategy.

After this round of purchases, MicroStrategy currently has a reserve of approximately 124,391 bitcoins. To put things into perspective, the company’s current stash was purchased for nearly $3.8 billion. This puts its average price per coin at $30,159. More importantly, MicroStrategy’s total Bitcoin holdings are now worth over $5.5 billion. It seems like CEO Michael Saylor continues to double down on his belief in the leading cryptocurrency. Nevertheless, it remains to be seen if MSTR stock can benefit from this in the long run.

The post Stock Futures Dip Going Into Last Trading Day Of 2021 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.com.

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Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

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Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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