Investing.com – Analysts at Redburn Atlantic have lowered their rating of Starbucks (NASDAQ:) to “Sell,” arguing that the consensus outlook for the coffee chain does not “adequately reflect” the costs associated with the company’s sweeping turnaround plans. In October, Starbucks suspended its outlook through the next fiscal year as new CEO Brian Niccol works to revamp the company amid falling demand for its higher-priced offerings. Same-store sales, net revenue and income all declined in the fourth quarter ended on Sept. 29. “Starbucks has not grown weekly visits in its US system since 2016,” the Redburn Atlantic analysts led by Edward Lewis…
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Committed to securing re-election to Congress, Rep. Marjorie Taylor Greene, the Republican congresswoman from Georgia, took time out of her schedule to make some adjustments to her investment portfolio before Election Day. In early November, she went on a buying spree, picking up shares of several artificial intelligence stocks (AI) in addition to those from other industries. The additions included Advanced Micro Devices (NASDAQ: AMD), Apple (NASDAQ: AAPL), Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), Digital Realty Trust (NYSE: DLR), Meta Platforms (NASDAQ: META), and Tesla (NASDAQ: TSLA). While it’s not clear exactly how much Greene invested in each stock, her…
Image source: Getty Images In 2023, abrdn (LSE: ABDN) shares paid a total dividend of 14.6p. This gives a yield of 10.7% on the current price of £1.36. By comparison, the average FTSE 100 yield is just 3.6% and the FTSE 250’s is only 3.3%. Moreover, the global investment management firm has paid the same 14.6p dividend in each of the past four years. And analysts project that it will pay the same again this year, next year, and the year after that. I believe it’s worth considering, even though a risk here is that the firm’s ongoing reorganisation aimed…
NEW YORK – Griffon Corporation (NYSE:GFF), a diversified management and holding company, announced Wednesday that its Board of Directors has approved an additional $400 million stock repurchase program. This new authorization follows the company’s previous buybacks, where Griffon repurchased 9.4 million shares, representing 16.4% of outstanding shares, at an average price of $48.74 per share, totaling $458 million since April 2023. As markets opened today, Griffon indicated the full $400 million is available for the repurchase of common stock under the current program. This move underscores the company’s ongoing efforts to manage capital and deliver value to shareholders. Griffon’s operations…
Image source: Getty Images It may be based in the US but Workday (NASDAQ: WDAY) is critical to the FTSE 100. As a global leader in business management software, it helps some of our nation’s top companies manage their day-to-day operations. From healthcare to banking, it is the software-of-choice for some of the biggest names in the UK market. Think AstraZeneca, GSK, Rolls-Royce and Lloyds. Even the London Stock Exchange Group uses it! Covering human resources, financials and planning, Workday helps companies hire staff, process payroll and track finances. It is an all-in-one solution provider that seems to be enjoying…
Management does not expect the foundry business to be in full swing until 2026. Source link
OpenAI announced in October that it raised $6.6 billion at a blockbuster $157 billion valuation.Among its new backers was a well-known investor: SoftBank.SoftBank’s Vision Fund CFO Navneet Govil told BI why it bet on the ChatGPT maker. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy. You can opt-out at any time by visiting our Preferences page or by clicking “unsubscribe” at the bottom of the email. Before investing $500 million in OpenAI, SoftBank passed up…
(Bloomberg) — Tesla Inc.’s post-election surge, powered by Elon Musk’s full-throated support for Donald Trump, has added almost $250 billion to the carmaker’s value, a staggering sum that now has some on Wall Street urging caution. Most Read from Bloomberg Shares in the electric vehicle maker have soared 31% since Trump’s decisive win, leaving analysts’ price targets in the dust. The gap between Tesla’s (TSLA) share price and the average analyst target compiled by Bloomberg suggests 28% downside, and is at its widest since the post-pandemic tech stock mania of late 2021. This chasm speaks to the challenge facing analysts…
Super Micro Computer (NASDAQ:) shares dropped over 4% in premarket trading Wednesday following the company’s announcement of a delay in filing its quarterly 10-Q report for the period ending September 30, 2024. A Form 10-Q is the company’s quarterly financial report. In its press release, Super Micro Computer attributed the delay to unresolved issues related to an ongoing internal review of the company’s controls and reporting processes. The review, initiated by the company’s board in response to concerns raised by the company’s former accounting firm, has resulted in delays for both the 2024 annual 10-K filing and the current quarterly…
This article is an on-site version of our Moral Money newsletter. Premium subscribers can sign up here to get the newsletter delivered three times a week. Standard subscribers can upgrade to Premium here, or explore all FT newsletters.Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT Hello again from Baku, where the COP29 climate summit is nearly midway through its first week. Negotiators still have some big divides to bridge on the “new collective quantified goal” for climate finance that is meant to be agreed here. The EU and other rich…