Author: Press Room
Intro On the most recent Q4 earnings call, Markforged (NYSE:MKFG) CEO gave some upbeat comments regarding the trajectory of Markforged as a whole. This company operates in the additive 3D manufacturing space where the company’s cloud-based AI-powered platform (Digital Forge) facilitates seamless connectivity between materials & software resulting in laser-fast manufacturing results. The CEO’s clear message to investors was that by investing aggressively today, Markforged has the capability to generate outsized returns going forward. Unfortunately, post the announcement of the company’s fourth-quarter earnings (Where the negative EPS of $0.07 actually beat expectations), the market was not as enthused with management’s…
Glencore has added a cash sweetener to its hostile takeover bid for Teck Resources as it tries to woo the Canadian miner, whose chief reiterated the board’s rejection of the deal.Under the revised proposal, the FTSE 100 mining group has offered to pay a cash element that could amount to $8.2bn to buy Teck shareholders out of their stake in a coal-focused spin-off, while also granting them a 24 per cent stake in a separate industrial metals business that would be created off the back of the deal. The revised offer allows investors to choose cash instead of shares or…
Chicago will host the 2024 Democratic National Convention, the Democratic National Committee announced Tuesday. The convention will be held from August 19-22, 2024. In its announcement, the DNC called the Midwest a “critical Democratic stronghold” that helped President Joe Biden win the 2020 presidential election. “I am thrilled that Democrats will take the stage in Chicago to share our party’s vision and values,” DNC Chair Jaime Harrison said. “The Midwest reflects America and will give Democrats an opportunity to showcase some of President Biden and Vice President Harris’s most significant accomplishments for American families.” Chicago beat out the other two…
The U.S. is facing a long, shallow recession instead of a “deep and long credit crunch contraction” after the Federal Reserve’s tightening of monetary policy over the past year, according to Mizuho Securities. “The Fed always tightens until something breaks!” said Steven Ricchiuto, U.S. chief economist at Mizuho Securities USA, in a new note. “The key question markets have to answer right now is which type of credit dislocation the economy is dealing with following the regional bank debacle.” A “systemic credit crunch” can sometimes emerge after the Fed tightens its policy to tame inflation, while other times “idiosyncratic issues…
Shares of WW International Inc. WW, +46.12%, the parent of Weight Watchers, soared on heavy volume Tuesday after the weight-management and wellness company said the deal to buy the telehealth company doing business as Sequence has been completed. The acquisition of Sequence, which is part of Weekend Health Inc., provides WW with a prescriber of weight-management and diabetes drugs. “Given the advancements in chronic weight management medications, entering into clinical interventions, for those who medically qualify, is a natural next step for WeightWatchers,” said WW Chief Executive Officer Sima Sistani. “Our goal is to provide sustainable, science-backed solutions to all…
Tax Day is just around the corner — but it’s not too late to file for an extension if you need some extra time to prepare your return. While Tuesday, April 18, is the tax filing deadline for most Americans this year, taxpayers who aren’t able to file by that date — such as those missing a key tax form, or anyone who just needs more time — can request a six-month extension. That means you’ll have until Oct. 16, 2023 to submit your 2022 federal income tax return. Individual taxpayers, regardless of income, can use IRS Free File to…
The Democratic National Committee said on Tuesday that Chicago will host the 2024 Democratic National Convention. The Democratic Party seems to be closing ranks behind President Joe Biden as their 2024 nominee, although Marianne Williamson and Robert F. Kennedy Jr. are mounting longshot challenges to Biden. Read the full article here
© Reuters. FILE PHOTO: A electric vehicle charger is seen as a vehicle charges in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly By David Shepardson WASHINGTON (Reuters) – The U.S. Energy Department (DOE) on Monday proposed reducing electric vehicles’ (EV) mileage ratings to meet government fuel economy requirements, a move that could force automakers to sell more low-emissions cars or improve conventional models. DOE wants to significantly revise how it calculates the petroleum-equivalent fuel economy rating for electric and plug-in electric hybrids for use in the National Highway Traffic Safety Administration’s (NHTSA) Corporate Average Fuel Economy (CAFE) program.…
By Ambar Warrick Investing.com — Gold prices hovered just below recent highs on Tuesday, remaining relatively underpinned as markets awaited more cues on the U.S. economy from inflation data and the minutes of the Federal Reserve’s March meeting due later this week. The yellow metal was buoyed by safe haven demand as sentiment remained weak amid fears of slowing economic growth and uncertainty over monetary policy, although prices had retreated from an over one-month high after U.S. data showed continued resilience in the jobs market in March. Markets are now looking to inflation data, due on Wednesday, to gauge if…
By Yasin Ebrahim Investing.com — The dollar rose Monday, underpinned by rising Treasury yields as bets on another Federal Reserve rate hike jumped following recent data showing ongoing strength in the labor market and further easing of stresses in the banking system. The , which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.52% to 102.26. About 72% of traders expect the Fed to hike rates on May. 3, up from about 55% last week, Investing.com’s showed, after the U.S. economy created 236,000 in March and unexpectedly fell to 3.5%. “On the whole, the…
