Oracle’s shares experienced a notable 9% increase in after-hours trading following the release of its fiscal first-quarter results. The software giant exceeded Wall Street estimates on various fronts, showcasing the company’s strength and resilience in the competitive market. The company reported adjusted earnings per share of $1.39 as opposed to the expected $1.32, demonstrating a
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Discount retailer Big Lots made headlines recently as it filed for bankruptcy due to a combination of high interest rates and a sluggish housing market that impacted the demand for its affordable furniture and home decor offerings. In a deal reported in court records, Big Lots agreed to sell its business to private equity firm
The IRS is still grappling with how to prevent increased audits on taxpayers earning less than $400,000. Despite this, certain aspects of your tax return can attract scrutiny, regardless of income. Experts caution that individuals should be aware of potential red flags that could prompt an audit. Although the IRS is concentrating its enforcement efforts
Despite the challenges faced in the past year, Standard Chartered CEO Bill Winters believes that China’s property market has not yet hit rock bottom. In a recent interview with CNBC, Winters expressed his concerns about the investing environment in China, citing low consumer and international investor confidence. He highlighted the fact that the property market
China recently reported that its consumer price index rose by 0.6% year on year in August, which was below expectations. This increase was primarily driven by rising food prices, as food prices climbed by 2.8% year on year in August. However, other sectors such as transportation, home goods, and rents experienced a decline in costs.
The first stock pick highlighted in the original article is Planet Fitness (PLNT), a franchisor and operator of fitness centers. The analyst referenced, Baird analyst Jonathan Komp, reaffirmed a buy rating on PLNT stock with a price target of $92. Komp cited the company’s strong performance in the second quarter and the initiatives under new
Seven & i Holdings recently rejected a takeover offer from Canadian convenience store operator Alimentation Couche-Tard. The company made this decision after evaluating the offer and determining that it was not in the best interest of its shareholders and stakeholders. The offer made by Couche-Tard was to acquire all outstanding shares of Seven & i
Vice President Kamala Harris has recently proposed an increase in the capital gains tax rate, specifically targeting households with an annual income of over $1 million. The suggested rate of 28% on long-term capital gains assets owned for more than a year is a significant jump from the current 20% rate applicable to top earners.
Broadcom’s fiscal third-quarter results exceeded Wall Street expectations with earnings per share of $1.24 adjusted versus $1.20 expected, and revenue of $13.07 billion compared to $12.97 billion expected. This strong performance showcases the company’s ability to deliver solid financial results even amidst economic uncertainties. Despite the positive earnings report, Broadcom’s shares fell by 7% in
In light of the upcoming Federal Reserve meeting, Nobel Prize-winning economist Joseph Stiglitz has voiced his opinion that the Fed should deliver a half-point interest rate cut. Stiglitz believes that the U.S. central bank has tightened its monetary policy too aggressively, exacerbating the issue of inflation. He argues that keeping interest rates near zero for