Paramount Global (PARA) shares skyrocketed more than 10% in early trading on Wednesday after Bloomberg reported media mogul Byron Allen made a $14.3 billion bid to buy all of Paramount’s outstanding shares. According to the report, Allen offered $28.58 each for the company’s voting shares, marking a 50% premium compared to recent trading levels, and $21.53 for non-voting shares. Including existing debt, the total value of the deal amounts to roughly $30 billion. It’s unclear how he would… Source link
Read More »Stocks sink after Powell suggests Fed may not cut rates in March
Paramount Global (PARA) shares skyrocketed more than 10% in early trading on Wednesday after Bloomberg reported media mogul Byron Allen made a $14.3 billion bid to buy all of Paramount’s outstanding shares. According to the report, Allen offered $28.58 each for the company’s voting shares, marking a 50% premium compared to recent trading levels, and $21.53 for non-voting shares. Including existing debt, the total value of the deal mounts to roughly $30 billion. It’s unclear how he would… Source link
Read More »Stocks rise as S&P 500 hits fresh record to kick off earnings-packed week
US stocks edged higher Monday, with the S&P 500 notching another record close as investors braced for a busy week packed with Big Tech earnings updates, a Federal Reserve rate decision, and the crucial US jobs report. The Dow Jones Industrial Average (^DJI) drifted 0.6% higher, while the S&P 500 (^GSPC) rose 0.8% to build on last week’s wins for the indexes. The tech-heavy Nasdaq Composite (^IXIC) gained over 1%. With five of the “Magnificent Seven” tech companies set to report earnings, it Source link
Read More »US stocks make muted start to earnings-packed week
US stocks were little changed on Monday as investors braced for a busy week packed with Big Tech earnings updates, a Federal Reserve rate decision, and the crucial US jobs report. The Dow Jones Industrial Average (^DJI) and the S&P 500 (^GSPC) drifted just above the flatline, getting off to a muted start after the major stock gauges notched weekly wins. The tech-heavy Nasdaq 100 (^NDX) ticked higher. With five of the “Magnificent Seven” tech companies set to report earnings, it looks like a… Source link
Read More »Stocks mixed as Intel outlook chills techs
Stocks retreated Friday following a gloomy outlook from Intel and as investors parsed a key inflation reading seen as influential in the timing of an interest rate cut. The S&P 500 (^GSPC) rose above the flatline after a winning Thursday saw the benchmark close at another record high. The Dow Jones Industrial Average (^DJI) edged up 0.2% or about 80 points, while the tech-heavy Nasdaq Composite (^IXIC) sank 0.1% Techs led the way lower after Intel’s (INTC) first quarter outlook fell well short… Source link
Read More »Tech leads stocks higher as chipmakers shine
US stocks tipped higher on Thursday, eyeing a rebound from recent losses as investors looked to fresh quarterly earnings for inspiration amid dwindling hopes for an early 2024 interest rate cut. The S&P 500 (^GSPC) added around 0.4%, while the tech-heavy Nasdaq Compossite (^IXIC) led gains, rising 1%. The Dow Jones Industrial Average (^DJI) dropped about 0.3%. Techs led stocks higher after a bullish AI-fueled revenue outlook from TSMC (TSM), a key supplier to Apple (AAPL) and Nvidia (NVDA)…. Source link
Read More »US stocks fall at start four-day trading week
US stocks retreated on Tuesday, with investors still focused on the path of interest rates after a lackluster start to earnings season that kicked off with big bank results. Dow Jones Industrial Average (^DJI) dropped 0.4%, while S&P 500 (^GSPC) shed 0.2%. The tech-heavy Nasdaq (^IXIC) was down 0.3% despite flipping into green territory several times during the session as semiconductors Nvidia (NVDA) and AMD (AMD) rose. Goldman Sachs (GS) shares were trading higher on Tuesday after the bank Source link
Read More »Stocks Drop While Dollar Rallies to One-Month High: Markets Wrap
(Bloomberg) — Global stocks retreated and the dollar rose to a one-month high as central bank officials pushed back against bets on aggressive interest rate cuts. Most Read from Bloomberg US futures slid, while the Stoxx Europe 600 index headed for a five-week low. The MSCI Asia Pacific Index lost 1.5%, the most in three months. Two-year Treasury yields rose six basis points to 4.2%. An index of the dollar climbed 0.6%. Banks led equity declines in Europe as JPMorgan Chase & Co. analysts said… Source link
Read More »European Stocks Slip as Traders Weigh Rate Outlook: Markets Wrap
(Bloomberg) — European stocks fell as traders weighed the outlook for monetary policy ahead of a raft of speeches by policy makers at the World Economic Forum in Davos this week. Most Read from Bloomberg The Stoxx Europe 600 index slipped 0.2%, extending a lackluster start to the year after a 13% rise in 2023. Basic resources and carmakers led the decline after Germany’s economy dodged a recession, though the latest data showed it contracted for the first time since the pandemic last year…. Source link
Read More »Stocks recover losses after hot inflation print
US stocks recovered from earlier losses on Thursday to end the session mostly flat after a fresh reading on December inflation came in slightly hotter than economists had expected, raising new questions about the Federal Reserve’s path on interest rates. The S&P 500 (^GSPC) which had been down as much as 0.8% during the session, closed just under the flatline. The Dow Jones Industrial Average (^DJI) and the Nasdaq Composite (^IXIC) hovered slightly above breakeven. Interest rate sensitive… Source link
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