Check out which companies are making headlines in pre-market trading. Intel – Shares fell more than 4% after the company disclosed a widening operating loss in its semiconductor manufacturing business. Intel reported an operating loss of $7 billion in 2023 for the corporate arm, compared to $5.2 billion the previous year. Tesla – The electric car maker fell nearly 1% after Guggenheim and Deutsche Bank cut their price targets for the stock. The targeted cuts come on the heels of Tesla announcing much weaker-than-expected delivery numbers in the first quarter. Paramount Global – Shares rose 2.5% after a report from…
Author: ricardofrancois
A home is being offered for sale on March 22, 2024 in Chicago, IL Scott Olson | Getty ImagesMortgage rates didn't move much last week, and for the second week in a row, mortgage demand didn't change either. Potential buyers are constrained by high costs and low supply, and current homeowners have little incentive to refinance at today's high interest rates.Total mortgage application volume last week was essentially flat, down 0.6% from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) fell…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.With so many luminaries from Hollywood, Wall Street, and Silicon Valley, Endeavor's ordinary shareholders can feel like faceless extras. They certainly should do so after the entertainment group announced a long-awaited private sale to majority existing shareholders this week. The deal values Endeavor shares at $13 billion. But the stock deal price of $27.50 is only 15 percent higher than its initial public offering price in April 2021. At that time, shares of music promotion company Live Nation jumped about 30 percent.The…
When news emerged that former President Donald Trump had managed to post a $175 million bond to prevent an asset seizure while appealing a ruling in New York that he lied about his wealth, it turned out to be a surprise figure who saved him. He was none other than 80-year-old Los Angeles billionaire Don Hankey, a hard money lender who made a fortune financing car sales for borrowers with subprime mortgages — but expanded beyond that industry into other businesses where a profit could be made. Of course. .Why does the name Don Hankey sound familiar?One of his companies,…
The historic Sportsmen's Lodge in Studio City could be demolished to make way for a 520-unit apartment complex and mixed-use development if the Los Angeles City Council approves the project on Wednesday.Supporters of the development say it will provide much-needed affordable housing that will enable workers to live close to their jobs. Opponents say developers did not adequately weigh the project's impacts and that it would erase an important piece of history. The Sportsmen's Lodge closed permanently when the COVID-19 pandemic began. Now, the only active part of the property is the adjacent Shops at Sportsmen's Lodge, which opened in…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Edward Cole is Head of Multi-Strategy Equities at Man Group.In physics, the more momentum an object has, the harder it is to stop. We have now seen several periods where the momentum factor seemed to be running out of steam, only to pick up again.But “Momo” is now on such a tear that it seems it's time to declare that bounce means a thing of the past and be done with it.Para Global Momentum 3-Year Annual Returns © MSCI BarraAs a reminder,…
MUMBAI, MAHARASHTRA, INDIA – 02/01/2024: A circular metal logo reading “This sign indicates BUY STOCK” appears near a street sidewalk near the Bombay Stock Exchange (BSE) in Mumbai.soba pictures | Rocket Lite | Getty ImagesShares in China and Hong Kong have been sold at a whopping $4.8 trillion market value since 2021, which according to HSBC, is more than the value of the Indian stock market.This statistic does not bode well for either China or Hong Kong, especially since the Indian National Stock Exchange witnessed growth during the same period.It overtook the Hong Kong Stock Exchange and Clearinghouse to become…
BlaBlaCar is an iconic name in the French startup ecosystem. The car-sharing and bus-ticketing company has been around so long that it's hard to consider it a startup anymore. However, BlaBlaCar is a very interesting company today due to its unique trajectory. What started as a scrappy online community has become a startup that has raised hundreds of millions and reached unicorn status. It then expanded to many countries across several continents, then scaled back its ambitions and started thinking about profitability. The company announces today that it has secured a €100 million revolving credit facility ($108 million at today's…
Open Editor's Digest for freeRula Khalaf, editor of the Financial Times, picks her favorite stories in this weekly newsletter.Venture capitalists are struggling to raise money, signaling the end of the era of “mega funds” and a slowdown in startup deals over the coming years.Globally, venture firms raised $30.4 billion from university endowments, foundations and other institutional investors in the first three months of this year, a notable slowdown from 2023 — which itself was the worst year for fundraising since 2016, according to private markets data provider Beachbook. Investors in venture funds, known as limited partners, have reined in spending…
Nearly half of adults are stressed about personal finance, a new survey across advanced economies has found.D3sign | moment | Getty ImagesAt least half of adults in a range of major economies report feeling stressed about their personal finances, and say inflation is one of the main reasons.A large number also say they feel their financial situation is worse off than their parents, and are pessimistic about their children's financial future, according to SurveyMonkey's International Financial Security of Your Money survey.In the United States, Australia, Spain and Mexico, about 70% of adults said they were “very or somewhat stressed” about…