Inspire Medical Systems and ResMed took a hit, with a 14% and 11% drop respectively due to news about Eli Lilly’s weight loss drug tirzepatide showing positive effects on treating obstructive sleep apnea. This resulted in a drop in their stock prices. Eli Lilly stock, however, saw a 2% increase following the announcement. RXO Shares
Finance
The recent decline in prices of the renowned Chinese alcohol brand “Flying Fairy” has raised concerns about the state of the economy. Wholesale prices of the 53% alcohol produced by Kweichow Moutai have plummeted by over 5% within a week, marking a substantial decrease of more than 30% since reaching a peak in September 2021.
China has invested a substantial amount, totaling $230.8 billion, over more than a decade to develop its electric car industry. This massive scale of government support represents 18.8% of total electric car sales between 2009 and 2023. However, it is crucial to note that the ratio of government spending to EV sales has been on
Accenture, a leading tech company, saw its stock skyrocket by an impressive 8.6%. Despite missing earnings and revenue expectations, Accenture managed to secure over $900 million in new generative AI bookings. This unexpected turn of events left many investors intrigued and optimistic about the company’s future prospects. In stark contrast, Trump Media & Technology Group
Recently, Fitch Ratings agency announced that they no longer anticipate China to reduce its policy rate this year. Instead, they have revised their forecast, pushing back expectations for a rate cut to next year due to the high interest rates set by the U.S. Federal Reserve. Fitch now predicts that China will maintain its one-year
As we reach the midpoint of the year, optimism is running high on Wall Street. According to the latest global fund manager survey from Bank of America Securities, investors are the most bullish they have been since November 2021. This positive sentiment is reflected in the record highs seen in both the S&P 500 and
Starboard Value, the activist fund led by Jeff Smith, has recently acquired a significant stake in graphics-design firm Autodesk. The fund has engaged in discussions with Autodesk’s board regarding serious concerns surrounding the company’s disclosures related to an internal investigation that resulted in the removal of its chief financial officer. According to sources familiar with
According to HSBC analysts, Chinese companies still have a long way to go when it comes to expanding internationally. Their study revealed that only 11.7% of the total revenue for mainland China-listed companies came from outside the country. The number dropped even lower to 10.3% when focusing on the largest companies in the CSI 300
Investors concerned about concentration risk in the market have been exploring alternative strategies to mitigate potential downsides. Phil McInnis, the chief investment strategist at Avantis Investors, suggests a diversified approach that goes beyond traditional index funds like the S&P 500. He believes that focusing on value-oriented investments can lead to better long-term returns by emphasizing
In an era where corporate expenses can often be a cause for concern due to employees making improper requests, CleverCards has taken a revolutionary approach to address this issue. The Dublin-based startup has defied the odds by securing 8 million euros in funding from investors, amidst a slump in investment for the financial technology industry.