Kyle Green / Bloomberg via Getty ImagesKey TakeawaysMorgan Stanley cut its price target for Micron Technology and warned about the future of the memory chip sector.The bank said it sees “chillier conditions from here” for the stock group.The analysts expect the sector’s growth to peak and reverse in the coming quarters.Micron Technology (MU) stock was one of the biggest decliners in the S&P 500 Monday after Morgan Stanley slashed its price target to $100 from $140 and gave a downbeat assessment of the memory chip sector.The bank warned that although it’s difficult to predict cyclical peaks, “both NAND and DRAM…
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The Chevrolet Corvette ZR1, a legendary performance car, was introduced in 1990, revolutionizing the American automotive world. Developed in collaboration with Lotus, its powerful engine and advanced technology propelled it to the forefront of supercar performance. With a 0-60 mph time of under 5 seconds and a top speed exceeding 175 mph, the ZR1 effortlessly outpaced its European rivals. Its distinctive styling, featuring a wider rear end and squared off taillights, set it apart from the standard Corvette. While its high price tag may have deterred some potential buyers, its exceptional performance and enduring appeal make it a coveted collectible…
Paylocity (NASDAQ:) Holding Corp (NASDAQ:PCTY), a provider of cloud-based payroll and human capital management software solutions, today announced the departure of its Senior Vice President and Chief Technology Officer, Rachit Lohani. According to the company’s latest 8-K filing with the Securities and Exchange Commission, Mr. Lohani informed the company of his decision to leave on September 11, 2024. While Lohani will continue in his current role until December 2, 2024, Paylocity has commenced the search for a new CTO. The company has not yet named a successor. This executive change comes as Paylocity, headquartered in Schaumburg, Illinois, continues to expand…
Stellantis, the automotive giant formed by the merger of Fiat Chrysler Automobiles and Groupe PSA, has announced significant investments in three of its Michigan plants to support its ambitious electrification strategy. The company will allocate a total of $406.1 million to the Sterling Heights Assembly Plant, Warren Truck Assembly Plant, and the Dundee Engine Plant to prepare for the production of new electric vehicles. Sterling Heights Assembly Plant will receive the largest investment of $235.5 million to prepare for the launch of the Ram 1500 REV, the brand’s first electric pickup truck. This will be followed by the Ram 1500…
US and European stock markets were mixed on Monday as investors traded cautiously ahead of the US Federal Reserve’s first interest-rate cut since 2020.In New York, the Dow was up slightly but the wider S&P 500 and the tech-heavy Nasdaq were lower in late morning trading. In Europe, London closed marginally higher but all the main continental exchanges were slightly lower.The dollar fell ahead of Wednesday’s rate cut announcement, while haven investment gold rose to a new record high.US stocks surged last week on positive economic news and as investors increasingly priced in a full half-point cut, with the Dow…
August was a wild ride for the S&P 500, marked by sharp swings that kept investors on their toes. After a sharp 6.1% drop in the first three days, the large-cap benchmark managed to rebound, closing the month with a 2.3% gain. The S&P 500 finished August at 5,648.40, just shy of its record high from mid-July. Surprisingly, the so-called “Magnificent Seven” stocks that have driven much of the market’s momentum this year, didn’t top the gainers list. Instead, two cybersecurity giants, CrowdStrike Holdings, Inc. (CRWD) and Fortinet, Inc. (FTNT), took the spotlight. With their recent performance, there’s an expectation…
Gavin Bond/Netflix © 2024Bridgerton season 4 just started filming, and we are already being treated to a ton of tea on the new It Couple of the Ton: Benedict and Sophie.Benedict Bridgerton (Luke Thompson) has been flitting around the periphery of the drama, recently engaging in a sexy throuple after trying his hand at art school. But in the upcoming season, he takes the lead, and will find a wife in Sophie Baek (Yerin Ha), a party-crashing maid. (Here’s everything we know about season 4.)Gavin Bond/Netflix © 2024And while we wait through the long, dry months between seasons, a taste…
The digital artist, Muhamad Abed, operating under the pseudonym notorious_morpheus, has found a solution to BMW’s disjointed design language. While the brand has achieved significant hype in recent years, its styling choices have been met with mixed reactions from fans. Many find the latest models, including the 1 Series, M2, M3, M4, iX, 5 Series, M5, 7 Series, i7, X7 LCI, and XM, to be overly aggressive or inconsistent with BMW’s heritage. While design experts acknowledge the importance of evolving with trends, they express concern about the lack of cohesion among BMW’s model series. The brand’s insistence on pushing boundaries…
Cryptocurrency, once on the fringe of finance, is poised to have a breakout year in 2025. Already, one version of cryptocurrency handles more money daily than the entire Visa credit card system. And both U.S. presidential candidates as well as Congress increasingly recognize the potential and pitfalls of this rapidly growing form of money. On Monday, former President Donald Trump is expected to underscore cryptocurrency’s prominence as he publicly announces the launch of his sons’ crypto project, known as World Liberty Financial. Why We Wrote This Lawmakers often struggle to keep pace with emerging technologies, and disagree about whether and how to…
Image source: Getty Images Phoenix Group (LSE: PHNX), a key player in the UK’s long-term savings and retirement sector could be at a critical juncture, with shifting demographics in the UK and an uncertain economic outlook. With the Phoenix Group share price down heavily in the last few years, I’ve taken a closer look at whether there could be an opportunity for investors. Recent results The latest results reveal a 19% annual increase in cash generation, reaching £647m in the first half of 2024. This growth is a positive indicator of operational efficiency. Furthermore, a 15% increase in operating profit,…