OPEC has requested that Iraq resume oil exports from Kurdistan to the Turkish port of Ceyhan. According to Iraqi media, the request has been forwarded to Iraqi Prime Minister Mohammed Shia al-Sudani. The news comes just a week after the Iraqi federal government announced it was repairing its own oil pipeline to Turkey, signaling a potential end to Kurdish semi-autonomy.
Edcetera, a leading provider of career education programs, has appointed Jim as its new Chief Marketing Officer (CMO). Jim brings over 30 years of experience in marketing, innovation, and strategic planning to Edcetera. His expertise in nurturing key partnerships and driving strategic investment initiatives aligns seamlessly with Edcetera’s mission to innovate and expand.
A bill in the California Legislature aims to crack down on how utilities spend customer money amid concerns about lobbying and advertising expenses. The bill would expand the definition of prohibited advertising and political influence and allow regulators to fine utilities that break the rules.
Analysts at Goldman Sachs expect total cash spending by S&P 500 companies to grow by 9% to $3.7T this year, driven by cash M&A and buybacks. Despite higher interest rates, S&P 500 companies have increased their cash balances by 7% year-over-year. Analysts forecast S&P 500 EPS to grow by 8% in 2024 and 6% in the following year, providing companies with more cash to spend.
In the stock market, some notable gainers and losers have emerged during mid-day trading. Among the gainers, Matterport (MTTR) has surged by an impressive 180%, followed by mF International Ltd (MFI) with a 149% increase. Edible Garden AG (EDBL) has climbed by 84%, while AGBA Group Holding Limited (AGBA) has gained 81%. Moolec Science (MLEC), NKGen Biotech (NKGN), Tungray Technologies Inc Class A Ordinary Shares (TRSG), ProKidney Corp (PROK), Smart for Life (SMFL), and Captivision (CAPT) have also shown significant gains. On the other hand, some stocks have experienced declines. YY Group Holding Limited Class A Ordinary Shares (YYGH) and Bio-Path Holdings (BPTH) have both fallen by 30%. Telomir Pharmaceuticals (TELO), Hepion Pharmaceuticals (HEPA), and Inhibikase Therapeutics (IKT) have also faced losses. Top Wealth Group Holding Limited (TWG), WiSA Technologies (WISA), Iczoom Group (IZM), Marin Software (MRIN), and Redwoods Acquisition Corp (RWOD) are among the other stocks that have underperformed during mid-day trading.
AZZ Inc., a leading provider of metal coating solutions, reported better-than-expected fourth-quarter results and provided an optimistic forecast for fiscal year 2025. The company’s revenue and earnings beat analyst consensus, with adjusted EPS coming in at $0.93 compared to the expected $0.70. Revenue also exceeded forecasts at $366.5 million. Looking ahead, AZZ anticipates adjusted EPS for fiscal year 2025 in the range of $4.50 to $5.00, outpacing the consensus estimate of $4.31.
MercadoLibre (NASDAQ: MELI) is a rapidly growing e-commerce and fintech company in Latin America, often compared to Amazon and PayPal. The stock has recently experienced a sell-off due to a misunderstanding of last quarter’s results, providing an attractive entry point for investors. MercadoLibre has a strong track record over the past five years and a unique platform that captures escalating Gross Merchandise Value, emerging user base, expansion into new countries, and a logistics network growing in leaps and bounds. The company has a proven ability to expand margins and earnings, and its current stock price is trading at a discount from its all-time high. Despite risks associated with the Latin American market, MercadoLibre remains a compelling long-term investment due to its growth potential and strong management team.
The tax and residency implications for Indian employees working remotely abroad are explained. Factors affecting residency status, tax liability, and filing requirements are discussed. Additionally, the tax implications of joint SIP investments with NRI spouses are explored.
Bella Figura Music, a fast-growing London-based music company, has acquired RAK Publishing, an independent publisher and recording studio known for its impressive catalog of over 1,500 classic songs. The acquisition strengthens Bella Figura’s portfolio and cements its position as a major player in the music industry.
AppLovin’s latest financial results showcase solid growth and profitability, bolstering confidence in its business model. The company’s Software Platform Segment has been a key driver of growth, and its strong competitive position and favorable industry dynamics indicate continued success. Despite potential risks from competition and the management of its two segments, the company’s fundamentals and attractive valuation suggest a strong buy recommendation.
