October 2024 - Page 6 of 244 -

Uber’s Q3 Results Beat Expectations, But Shares Drop On Growth Concerns

Oct 31, 2024 Jeremy Parkinson Finance 0

Image courtesy of 123rf.com Uber Technologies Inc. (NYSE: UBER) reported its third-quarter financial results on October 31, 2024, surpassing Wall Street expectations with a 20% increase in revenue to $11.19 billion. The ride-hailing giant’s net income soared to $2.6 billion, bolstered by a $1.7 billion pre-tax benefit from unrealized gains on equity investments.Adjusted EBITDA rose by 55% year-over-year […]

Elliott Wave Technical Analysis: PayPal Holdings Inc. – Thursday, Oct. 31

Oct 31, 2024 Jeremy Parkinson Finance 0

PYPL Elliott Wave Analysis Trading Lounge PayPal Holdings Inc., (PYPL) Daily ChartPYPL Elliott Wave Technical AnalysisFUNCTION: Counter TrendMODE: CorrectiveSTRUCTURE: ComplexPOSITION: Wave (Y).DIRECTION: Top in wave (Y).DETAILS: We are exploring the possibility of a significant top in wave (Y) as we seem to have a three wave move completed within wave (Y). There is a possibility we have had a 1-2-3 instead, however […]

US Goldilocks Story Gives The Fed Scope To Cut Rates Another 25bp

Oct 31, 2024 Jeremy Parkinson Finance 0

Image source: Pixabay The labor market and economic activity remain in decent shape while inflation pressures are subsiding. This gives the Federal Reserve room to gradually cut interest rates further, thereby giving the economy more breathing space to keep growing robustly. Labour costs are cooling with little evidence of job firingsToday’s US data flow is pretty […]

Consumer Spending Drives Solid US Economic Growth In Q3

Oct 31, 2024 Jeremy Parkinson Finance 0

What a long, strange trip it’s been for some analysts since the summer of recession forecasts turned into yesterday’s robust 2.8% rise in third-quarter GDP. A key driver of Q3’s advance: higher consumer spending, which accounts for roughly two-thirds of GDP. Personal consumption expenditures increased 3.7% in Q3, a robust pickup from Q2’s 2.8%.The crowd, recall, was […]

Merck Q3 Earnings And Revenues Top Estimates

Oct 31, 2024 Jeremy Parkinson Finance, No picture 0

Image Source: Unsplash Merck (MRK – Free Report) came out with quarterly earnings of $1.57 per share, beating the Zacks Consensus Estimate of $1.50 per share. This compares to earnings of $2.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.67%. A quarter ago, it was expected […]

British businessman accused of fraud declares himself Bitcoin’s creator Satoshi Nakamoto

Oct 31, 2024 Jeremy Parkinson Cryptocurrency, No picture 0

Key Takeaways Stephen Mollah, facing fraud charges, claims to be Satoshi Nakamoto. Mollah failed to provide evidence supporting his claim to be Bitcoin’s creator. Share this article Stephen Mollah, a British businessman accused of fraud related to his Satoshi Nakamoto claims, attempted to assert his identity as the creator of Bitcoin during a London press […]

Sensex Today Tanks 553 Points; Nifty Ends Below 24,250

Oct 31, 2024 Jeremy Parkinson Finance 0

After opening the day on a negative note, Indian share markets continued the downtrend as the session progressed and ended the day weak.Benchmark equity indices, BSE Sensex and NSE Nifty50, ended in negative territory for the second consecutive session on Thursday.October sees the Nifty plummet nearly 6%, its worst monthly drop since the 23% crash […]

Initial Jobless Claims Plunge To 6-Month-Lows

Oct 31, 2024 Jeremy Parkinson Finance 0

With the impacts of the hurricanes wearing off, initial jobless claims plunged last week to 216k (from 228k) – the lowest since April…Source: BloombergNorth Carolina has retraced all of its job losses from Helene and Florida is starting to recover from the claims spike after Milton…Source: BloombergContinuing Claims also fell, from 1.888mm Americans to 1.862mm […]

US Stocks Drop Ahead Of Key Earnings, Data And Election

Oct 31, 2024 Jeremy Parkinson Finance 0

Image Source: Pexels US futures dropped in early European trade following yesterday’s losses. The tech sector will be in focus following disappointing earnings from Meta and Microsoft, both falling 3.7% and 3.8%, respectively, in pre-market trading. Apple and Amazon will report their results this evening and we will have more US macro data to look forward […]

Jobless Claims: With Hurricane Effects Abating, Claims Return To Normal

Oct 31, 2024 Jeremy Parkinson Finance 0

It appears that, as I suspected earlier this month, the big YoY jump in initial jobless claims was largely due to the effects of the hurricanes, and is now abating.First, for the week initial claims declined another -12,000 to 216,000. The four week moving average declined -2,250 to 236,500. With the typical one week delay, […]