Shares of Porsche Automobil Holding (POAHY) fell more than 2% in Frankfurt on Wednesday, a day after the carmaker issued a weak profit margin outlook for 2024. The company’s operating profit rose 7.6% to €7.28 billion in 2023, while sales revenue climbed 7.7% year-over-year to €40.53 billion. Porsche proposed a dividend of €2.30 per ordinary...
The Japanese yen weakened against other major currencies in the pre-European session on Tuesday, as investors speculate that the Bank of Japan is likely to end ultra easy-monetary policy as early as next week. Traders looked ahead to a slew of crucial economic data, including reports on consumer and producer price inflation, for more clarity...
Nexon, the South Korean video game developer, plans to launch a web3 version of MapleStory on the Avalanche blockchain, adding user-generated content and new gameplay mechanics. The official blog post by Avalanche detailed that this version, named MapleStory N, will enable players to design and share their own creations within the game. Set to be...
On Wednesday, Wolfe Research adjusted its outlook on Gates Industrial Corp. (NYSE: NYSE:GTES), increasing the price target to $21 from $20 while maintaining an Outperform rating. The firm\'s decision reflects a positive assessment of the company\'s recent trading update and expectations for future performance. The research firm slightly elevated its first quarter and full-year 2024...
U.K. stocks rallied on Tuesday while the British pound slipped as new data showed a cooling trend in the labor market, prompting traders to reassess their expectations for rate cuts. The unemployment rate increased in January and wage growth slowed, leading to speculation that there will be three rate cuts from the Bank of England...
On Wednesday, Wolfe Research adjusted its outlook on Boeing Co (NYSE:BA), reducing the aerospace giant\'s price target from $270 to $260 while reaffirming an Outperform rating. The move reflects a reassessment of the company\'s near-term prospects in light of recent events and market performance. Boeing\'s stock has experienced a significant decline, falling 30% this year,...
European stocks ticked higher on Tuesday, after having fallen for the first time in three days the previous day due to uncertainty about the outlook for interest rates. There was some cheer on the economic front, with German inflation easing in February as initially expected. Elsewhere, weak U.K. employment and wage growth data spurred hopes...
President Joe Biden has reignited the debate surrounding implementing a 30% tax on electricity used by crypto miners in a budget proposal for 2025. The proposal, outlined in a document titled “General Explanations of the Administration’s Fiscal Year 2025 Revenue Proposals” by the U.S. Department of the Treasury, aims to address the current gap in regulations regarding...
After a slightly positive start and a subsequent fall into negative territory, the Canadian market edged higher Tuesday morning, amid optimism about the outlook for U.S. interest rates after data showed a slowdown in the annual rate of core consumer price growth in January. Technology, consumer discretionary, healthcare and industrials shares are among the notable...
Tether, the issuer of the world’s largest stablecoin, USDT, announced on March 11 the launch of its stablecoin on the Celo chain. In a statement, the stablecoin issuer said the expansion marks a major milestone for the firm and Celo. Tether Launches On Celo As of March 12, USDT is the largest stablecoin with a market...