CFOTO | Future Publishing | Getty Images ETFs that give that give retail investors magnified exposure to individual stocks are booming. That could be an ominous sign for the market, and for the funds themselves as glitches emerge. Leveraged single stock ETFs hit a record of $17 billion of trading volume on Nov. 21, according … Read more
My top 10 things to watch Wednesday, Dec. 4 1. Club name Eli Lilly crushes Novo Nordisk in the first head-to-head trial comparing their obesity drugs. Club name Lilly’s Zepbound generated weight loss of 20% on average after 72 weeks versus about 14% for Novo’s Wegovy. Is this the end of Novo as an alternative? … Read more
Artistgndphotography | E+ | Getty Images There’s soaring interest in donating cryptocurrency to charity as digital currency investors seek to maximize their tax break and impact. “A lot of folks have begun to realize that crypto giving is hugely beneficial,” said Kyle Casserino, vice president and charitable planning consultant for Fidelity Charitable, a public charity … Read more
Tech is no longer the primary driver of stock market momentum. Instead, that’s financials. Wolfe Research strategist Rob Ginsberg pointed out that financials now make up more than 25% of the iShares MSCI USA Momentum Factor ETF (MTUM) , while tech’s weighting has pulled back to about 20%. “Instead of Tech names driving the momentum … Read more
UnitedHealthcare (UHC) health insurance company signage is displayed on an office building in Phoenix, Arizona on July 19, 2023. Patrick T. Fallon | Afp | Getty Images UnitedHealth Group on Wednesday canceled its investor day after reports that the CEO of its insurer unit, Brian Thompson, was fatally shot in Manhattan. Thompson led UnitedHealthcare, the … Read more
Check out the companies making headlines before the bell: Salesforce — Shares rallied more than 12% after the enterprise software company posted a third-quarter revenue beat. Salesforce reported $9.44 billion in revenue, better than the $9.35 billion expected by analysts, according to LSEG. Subscription revenue also beat analyst expectations. Dollar Tree — The stock rose … Read more
Washington, D.C.’s attorney general sued Amazon on Wednesday, accusing the company of covertly depriving residents in certain ZIP codes in the nation’s capital from access to Prime’s high-speed delivery. The lawsuit from AG Brian Schwalb alleges that, since 2022, Amazon has “secretly excluded” two “historically underserved” D.C. ZIP codes from its expedited delivery service while … Read more
Low-angle view of sign with logo on facade of technology company Pure Storage in the Silicon Valley town of Mountain View, California, October 28, 2018. Smith Collection/gado | Getty Images Pure Storage shares rallied after announcing a contract with an unnamed “top four” AI hyperscaler in tandem with its fiscal third-quarter results. The shares were … Read more
Foot Locker store location on 34th street in New York City. Courtesy: Foot Locker Foot Locker slashed its full-year guidance on Wednesday after reporting a rough set of quarterly results that could be a warning sign for its largest brand partner Nike. The sneaker giant fell short of Wall Street’s expectations on the top and … Read more
An attendee holds pamphlets at the Albany Job Fair in Latham, New York, US, on Wednesday, Oct. 2, 2024. Angus Mordant | Bloomberg | Getty Images Private payrolls growth was less than expected in November, reflecting a slowing labor market, according to a report Wednesday from ADP. Companies added 146,000 on the month, below the … Read more