Indian shares may open on a cautious note Thursday after Wall Street stocks extended their losing streak to the longest since January amid heightened tensions in the Middle East and renewed uncertainty around rate cuts. The downside, if any, may remain limited as focus shifts to earnings and Israel\'s diplomatic offensive against Iran. Meanwhile, the...
Foreign trade data from Switzerland and the current account from the euro area are the top economic news due on Thursday. At 2.00 am ET, Switzerland\'s customs office is slated to release foreign trade data for March. In the meantime, the European Automobile Manufacturers\' Association publishes new car registrations data for March. Sales had increased...
The U.S. Commerce Department is preparing to fund $6.1 billion to US chip maker Micron Technology Inc. as part of the Government\'s plan to boost domestic semiconductor production, Bloomberg reported citing people familiar with the matter. The award is yet to get final approval, and will be revealed next week. In pre-market activity on the...
While reporting financial results for the second quarter on Thursday, home builder D R Horton Inc. (DHI) raised its revenue and homes closed guidance for the full-year 2024, based on current market conditions and the Company\'s results for the first half of the year. For fiscal 2024, the company now projects consolidated revenues in a...
While reporting financial results for the first quarter on Thursday, Iridium Communications Inc. (IRDM) reiterated its total service revenue growth guidance for the full-year 2024. For fiscal 2024, the company still projects service revenue growth of 4 to 6 percent, compared to the $584.5 million reported in 2023. On average, seven analysts polled by Thomson...
Ally Financial Inc. (ALLY), a bank holding company, reported Thursday that first-quarter net income attributable to shareholders decreased to $129 million or $0.42 per share from $291 million or $0.96 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $0.45 per share, compared to $0.82 per share in the prior-year...
Insurer Allstate Corp. (ALL) announced Thursday estimated catastrophe losses for the month of March 2024 of $328 million or $259 million, after-tax. Total catastrophe losses for the first quarter were $731 million, pre-tax. Catastrophe losses in March include six events estimated at $343 million or $271 million, after-tax, with approximately 80% of the losses related...
It\'s likely to be a somewhat subdued start for the Canadian market Thursday morning with investors tracking crude oil and metal prices. Concerns about the outlook for interest rates may weigh and limit market\'s upside. In company news, Lithium Americas (LAC.TO) said Wednesday that it would raise US$275 million by selling 55 million common shares...
European stocks may open slightly higher on Wednesday after reports that the United States and the European Union are planning to impose new sanctions on Iran, following its weekend attack on Israel. Israel has vowed to retaliate against Iran, but officials haven\'t said how or when they might strike. Israel\'s Foreign Minister Israel Katz said...
Consumer and producer prices from the UK and the euro area are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for March. Consumer price inflation is expected to ease to 3.1 percent from 3.4 percent in...