Citi’s double upgrade for Best Buy appears to be based on a positive outlook for the tech retailer. The research team at Citi highlighted potential catalysts such as tech replacement cycles and new AI innovation driving demand. The decision to raise the target price to $100 reflects confidence in the company’s growth and margin expansion
Wall Street
Upon closer inspection of the latest report from Jefferies, it becomes evident that the anticipated expansion of EBIT margins for IT companies in FY25 may not be as promising as initially thought. One of the key factors contributing to this doubt is the concerning trend highlighted in the employee demographics of top IT firms like
In recent years, concerns have been growing about the negative impact of social media platforms on the mental health and well-being of young users. To address these concerns, New York state lawmakers have passed legislation aimed at protecting children from potentially harmful online content and data collection practices. While the intentions behind these measures are
The recent acquittal of Autonomy founder Mike Lynch in a San Francisco court marks a significant victory for the entrepreneur who has faced legal challenges since the sale of his company to Hewlett-Packard (HP) for $11 billion in 2011. Lynch, along with former Autonomy finance executive Stephen Chamberlain, was acquitted of all charges, including conspiracy
The surge of major Asian chipmaking stocks and Nvidia suppliers on Thursday was closely linked to the overnight rally in Nvidia Corporation. The company reached a valuation of over $3 trillion, surpassing Apple Inc to become the second-most valuable company on Wall Street. This success was attributed to renewed optimism over artificial intelligence and demand
Scorpion Capital’s recent investigative report has shed light on some disturbing allegations against Lasertec Corp (TYO:6920), one of Japan’s most actively traded stocks. The report accuses Lasertec of engaging in fraudulent activities by inflating revenue, margins, and earnings through a textbook accounting scheme. This lack of transparency in financial reporting raises serious concerns about the
The recent data revealing a fall in job openings to three-year lows has sparked concerns about the state of the economy. The number of job openings for April dropped to 8.1 million, significantly lower than economists’ estimates. This unexpected decline suggests that the labor market may be experiencing a slowdown, casting a shadow on the
Skydance Media recently made a significant revision to its offer for Paramount Global. The Wall Street Journal reported that Skydance is looking to purchase a certain number of non-voting Paramount shares at $15 each, which marks a substantial increase from previous offers. This new proposal values Paramount B-shares at a premium of approximately 26% based
Pegasus Airlines is a prominent budget carrier that has recently seen a significant surge in travel demand following the aftermath of the pandemic. The airline, based in Turkey, has ambitious plans for growth in the upcoming decade, with a strong focus on expanding its fleet to meet the rising demand. In an interview with Reuters,
A recent ruling by a Delaware judge has allowed over 70,000 lawsuits involving the discontinued heartburn drug Zantac to proceed, signaling a potential legal battle for former Zantac manufacturers such as GSK, Pfizer, Sanofi, and Boehringer Ingelheim. The decision by Judge Vivian Medinilla of the Delaware Superior Court in Wilmington permits expert witnesses to testify