Broadcom reported fiscal third-quarter results that surpassed Wall Street expectations for both revenue and earnings. The company reported earnings per share of $1.24, beating the expected $1.20, and revenue of $13.07 billion, higher than the anticipated $12.97 billion. Despite the positive results, Broadcom’s shares fell by 7% in extended trading after the company provided guidance
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In a significant turn of events, Burberry Group, the iconic British luxury fashion house, has been removed from the prestigious U.K.’s FTSE 100 stock market index. This decision comes after a series of setbacks for the 168-year-old retailer, including declining sales and a string of management changes. The company’s relegation to the FTSE 250 marks
Boeing’s Starliner finally undocked from the International Space Station on Friday, after a lengthy delay. Originally scheduled to depart months earlier, the spacecraft left without the two astronauts it had delivered to orbit in early June. NASA test pilots Butch Wilmore and Suni Williams will remain at the ISS until February when they will return
Vice President Kamala Harris recently called for a higher capital gains tax rate, specifically proposing a 28% tax on long-term capital gains for households making more than $1 million annually. This marks a significant increase from the current rate of 20% for top earners. Harris justified this proposal by stating that it would “reward investment
Nobel Prize-winning economist Joseph Stiglitz recently criticized the Federal Reserve, advocating for a more aggressive approach to monetary policy. Stiglitz argues that the Fed has been “going too far, too fast” with its tightening policies, exacerbating the issue of inflation in the process. This call for a half-point interest rate cut comes ahead of the
The year 2024 has seen an unprecedented increase in exchange-traded fund (ETF) inflows, surpassing monthly records. The rise in assets parked in money market funds, amounting to over $6 trillion, is viewed as a major variable that could impact ETF inflows in the remaining months of the year. Nate Geraci, the president of The ETF
Forward Air is a transportation company that provides various services across North America, Europe, and Asia. The company specializes in expedited less-than-truckload markets, offering cost-effective alternatives to traditional air freight. Ancora, an activist investment firm, has been involved with Forward Air for nearly four years. Ancora initially focused on improving capital allocation, cost-cutting, and shedding
In recent years, automakers have been making a significant comeback in advertising during the National Football League (NFL) season. With Toyota Motor Corporation, Hyundai Motor Company, and the Detroit automakers leading the charge, there is a renewed focus on utilizing the NFL as a key advertising platform. This article delves into the reasons behind the
Activist investor Starboard Value has made a bold move to dissolve News Corp’s dual-class share structure, presenting a significant challenge to the Murdoch family’s control over the media giant. The push for change was initiated through a non-binding shareholder resolution, signaling Starboard’s determination to shake up the status quo. As of September, Rupert Murdoch held
Back in 1916, the world witnessed the rise of the first billionaire, John D. Rockefeller, thanks to the soaring share price of Standard Oil. This landmark event was once thought to be unattainable, marking the beginning of a new era in the world of extreme wealth. The Trillionaire Speculation Fast forward to the present day,