Author: News Room

Topline The gap between the world’s most valuable companies widened Thursday, as Apple shares took a tumble and Microsoft leapt to a record high share price. Key Facts Apple suffered its biggest single-day stock loss since Aug. 4 on Thursday, dropping 4% to $171 as investors reacted to the Department of Justice’s announcement of a wide-sweeping antitrust case against the company for allegedly stifling competition among other smartphone makers and the hefty revenues it takes for third-party transactions on its devices. The plunge wiped out $112 billion in market value for Apple, sending its market capitalization to $2.6 trillion, still…

In trading on Friday, shares of Altria Group were yielding above the 9% mark based on its quarterly dividend (annualized to $3.92), with the stock changing hands as low as $42.90 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market’s total return. To illustrate, suppose for example you purchased shares of the S&P 500 ETF (SPY) back on 12/31/1999 — you would have paid $146.88 per share. Fast forward to 12/31/2012 and each share was worth $142.41 on that date, a decrease of $4.67/share over…

Russia launched one its biggest strikes of the war on Friday, mainly targeting Ukrainian energy infrastructure across major cities with a variety of missiles and drones.Ukraine said the attack included the use of Russia’s Kh-22 anti-ship missile, among others, and destroyed a residential area. It’s unclear what specific missile hit the neighborhood, but the strike highlights the reckless nature of these attacks.Using the Kh-22 in attacks poses an unnecessary threat to civilians given that the missile is wildly inaccurate when fired at land targets. Despite the risk of the missile hitting unintentional targets, Russia has used it throughout the war…

As Rep. Clay Higgins walked toward the House floor to vote on a $1.2 trillion government funding bill on Friday, the Louisiana Republican explained why his “earmarks” couldn’t get him to vote yes.”Ultimately, I don’t control what the final language of the total funding bill will be,” said Higgins. “When I cast a vote on a bill, it has to be reflective of my core principles.”Higgins voted against the bill, despite securing $2.3 million in federal funding for an emergency operations center at the port in Morgan City, Louisiana.He was one of 20 House members — 15 Republicans and 5…

TOKYO (Reuters) – Business optimism among Japanese manufacturers likely eased slightly in the first quarter due to some auto production disruptions, but service-sector sentiment improved further, a Reuters poll of economists showed on Friday, The Bank of Japan’s (BOJ) closely watched “Tankan” business survey is expected to show the headline big manufacturers’ sentiment index eased to +10 in March from +12 in December, according to 14 economists surveyed by Reuters. The BOJ ended years of unorthodox policy this week, raising rates for the first time in 17 years in a historic shift away from decades of massive monetary stimulus. But…

HashiCorp Inc.’s (NASDAQ:) Chief Financial Officer, Welihinda Navam, recently sold shares in the company, with the total value of the transaction exceeding $250,000. This move was detailed in a mandatory filing with the Securities and Exchange Commission. The transaction took place on March 21, 2024, when Navam sold 9,153 shares of Class A Common Stock at a weighted average price of $27.3945. The shares were sold in multiple transactions with prices ranging from $27.135 to $27.93. According to the filing, the sale was executed to satisfy the reporting person’s tax obligations related to the vesting of Restricted Stock Units (RSUs).…

Unabomber prosecutor Robert J. Cleary has been given the green light by a U.S. bankruptcy judge to probe law firm Sullivan and Cromwell’s potential conflicts of interests in relation to FTX, according to a Wednesday court filing. What Will Cleary Find in FTX Probe? Cleary’s appointment by Judge John Dorsey marks a key shift in the examination of the FTX’s collapse, formally reversing his rejection of an independent examiner in February 2023. Sullivan and Cromwell spearheaded the doomed crypto exchange through its Chapter 11 bankruptcy proceedings and has since charged over $170 million for its services. Do you have Unabomber…

This week’s strong market pushed three of our portfolio stocks well clear of our current price targets. Since these rallies look like they have legs, we’re taking our numbers up. Nvidia price target increased to $1,050 NVDA YTD mountain Nvidia YTD Coming off a bullish GTC conference where Nvidia CEO Jensen Huang made the case that the artificial intelligence investment cycle is still in its early innings, we are increasing price target on the chip giant to $1,050 per share from $850. With such a big move this year, an over 90% gain, we’re reiterating our 2 rating, meaning look…

Deep-pocketed, sovereign wealth funds are among the investors clamoring to get a stake in Anthropic, the red-hot artificial intelligence startup that’s taking on OpenAI. One country that’s being left out: Saudi Arabia.As bankers line up a group of potential new Anthropic backers, the company has ruled out taking money from the Saudis, according to people familiar with the matter. Anthropic executives cited national security, one of the sources told CNBC. The stake in Anthropic is for sale because it belongs to FTX, the failed cryptocurrency exchange started by Sam Bankman-Fried, and is being unloaded as part of the company’s bankruptcy proceedings.…

GOP Rep. Marjorie Taylor Greene of Georgia on Friday filed a motion to oust Mike Johnson from the speakership, according to sources familiar with the matter, amid anger about the government funding bill from the House Republican Conference’s right flank. The House would have to consider Greene’s motion within two legislative days after she is recognized. The chamber is heading for a two-week recess, and Greene told reporters she would not call up the resolution Friday, which means the clock to force a vote has not yet started. Greene’s motion is the most strident challenge to the Louisiana Republican’s leadership…