Applied Materials, a leading chip equipment manufacturer, reported strong third-quarter results, exceeding revenue and earnings expectations. The company also raised its fourth-quarter revenue and earnings guidance, citing strong demand driven by the race for AI leadership. Analysts responded positively to the news, with several raising their price targets on the stock.
With the recent Bitcoin halving event, many miners are facing challenges with profitability. Seasonal Tokens, a project with four cryptocurrencies tied to the seasons, offers a unique solution. By utilizing a cyclical mining model, Seasonal Tokens allows miners to switch between tokens and avoid losses during halving events. Investors can also leverage this model to earn Bitcoin through strategic token swaps.
Housing starts in Canada experienced a significant increase in July, with the seasonally adjusted annual rate (SAAR) rising 16% compared to June. This surge was primarily attributed to a growth in multi-unit construction, particularly in Calgary and Ottawa. Despite this growth, concerns remain regarding the ongoing national housing shortage, leading developers to focus on multi-unit construction in major urban centers.
Walmart exceeded analysts’ expectations for the second quarter, reporting strong earnings and sales growth. The company also raised its full-year guidance, indicating optimism about future performance. This positive news led to a surge in Walmart’s stock price, and analysts increased their price targets for the company.
Chinese Premier Li Qiang has called for significant efforts to stimulate the economy, focusing on increasing consumer spending and supporting household income. This comes amidst slowing economic growth in July, with indicators like falling home prices and rising unemployment highlighting the need for intervention.
La Rosa Holdings Corp (LRHC) announced impressive second-quarter revenue growth driven by a surge in residential real estate services and continued growth in property management. The company is also actively pursuing an acquisition strategy to fuel further growth and expects to reach a $100 million annualized revenue run rate by the end of 2024.
Texas Instruments (TXN) is set to receive up to $1.6 billion in direct funding from the U.S. Department of Commerce through the CHIPS and Science Act, supporting the construction of three 300mm semiconductor wafer fabs in Texas and Utah. This investment will contribute to the company’s broader manufacturing expansion and generate thousands of new jobs.
Vice President Kamala Harris has outlined a comprehensive housing plan aimed at addressing affordability issues and alleviating housing shortages in the US. The plan includes measures like increasing housing supply, incentivizing affordable housing construction, and providing financial assistance to first-time homebuyers.
Wall Street analysts have recently adjusted their outlooks on a number of prominent companies, resulting in both upgrades and downgrades. This analysis highlights the key changes, including price target adjustments and revised ratings, impacting companies like Globant, Illumina, Microchip Technology, Charles Schwab, Walmart, and more.
South Korea’s National Pension Service (NPS) has significantly increased its exposure to Bitcoin by acquiring a substantial stake in MicroStrategy, a company known for its massive Bitcoin holdings. This move signals the growing interest in digital assets within institutional portfolios and underscores the potential of cryptocurrency.
