Hyundai Motor, Hyundai Electric Ink Deal To Develop Hydrogen Fuel Cell Package for Power Generation
Hyundai Motor Company (KRX: 005380) and Hyundai Electric & Energy Systems Co. (KRX: 267260) on Wednesday signed a memorandum of understanding. The MOU surrounds an initiative that aims to develop a hydrogen fuel cell package for power generation. The partnership will combine Hyundai Motor’s fuel cell experience and Hyundai Electric’s power equipment expertise to create […]
Amazon: Consensus Price Target Falls After Disappointing Q2 Results
Amazon.com Inc (NASDAQ: AMZN) reported its second quarter financial results on July 29. The company did not continue the earnings beat like its counterparties reported this quarter. The company reported top-line revenue of $113.08 billion, coming in below the $115.14 billion consensus estimate. Revenue grew 27.2% year over year and gross profit grew 34.9% year […]
US GDP Unexpectedly Misses Estimates in the Second Quarter
US economic growth fell short of expectations in the second quarter, as ongoing supply chain disruptions and inventory declines outpaced strong gains in consumer spending. According to preliminary figures published by the Commerce Department, the US economy expanded by an annualized 6.5%, following a downward-revised 6.3% growth in the previous quarter. However, the latest GDP […]
EV Maker Canoo Questionably Elevates Josette Sheeran To President
On July 26, Canoo Inc. (NASDAQ: GOEV), a start-up electric vehicle (EV) manufacturer, appointed Ambassador Josette Sheeran as president of Canoo, the second-highest ranking member of the company’s management team. We consider the elevation of Ambassador Sheeran, who was already a board member of Canoo, to be somewhat surprising. Notably, Josette had no significant manufacturing or […]
McDonalds: BMO Upgrades Firm Off Back Of Strong Earnings
On July 28, McDonald’s Corp (NYSE: MCD) reported their second quarter financial results. The company reported topline revenue of $5.88 billion, growing 56.5% year over year and slightly beating the street high estimate of $5.86 billion. Gross profit came in at $3.22 billion, an increase of 86.8% year over year. The company’s gross margin was […]
Tether, Facebook’s Diem Token Were Main Focus of Yellen’s Meeting With Regulators
With a number of major stablecoins gaining momentum in the cryptocurrency market, US regulators are beginning to sound the alarm over their potential widespread adoption and the subsequent risks that may ensue. According to Bloomberg, which cited people familiar with the matter, US Treasury Secretary Janet Yellen’s July 19 meeting with representatives from the President’s […]
Facebook: BMO Raises Price Target To $425
On July 28, Facebook (NASDAQ: FB) reported their second quarter earnings, continuing the trend of big tech smashing earnings this quarter. The company reported second quarter revenue of $29.07 billion, beating the street high estimate of $27.87 billion and rising 55.6% year over year. Gross profit also rose 59.4% year over year to $23.67 billion. […]
US ETF Inflows Soar to $505 Billion, Surpass 2020 Record
As robust financial markets continue to attract an onslaught of investors, inflows into US-based ETFs have surpassed last year’s record, as total assets soared to more than $6 trillion since the beginning of the year. According to the Financial Times, which cited data from research firm CFRA, net inflows into US ETFs have topped $505 […]
Trican Well Service: Consensus Price Target Rises To $3.26
On July 27, Trican Well Service (TSX: TCW) reported their second-quarter financials. The company reported revenues of $93.7 million and a gross loss of only $0.2 million. The company’s adjusted EBITDA came in at $14.2 million, while the firm also reported $58.9 million in cash and cash equivalents for the period ending June 30. All […]
Reverse Repos Soar to $1 Trillion as America’s Economy FLOODS With Excess Cash
For the first time ever, The Fed’s Reverse Repo Facility now holds over $1 trillion in reserves, as banks park their excess cash for ‘safekeeping,’ while collecting plump premiums. According to a New York Federal Reserve report, a total of 86 financial institutions deposited more than $1.039 trillion worth of reserves in the Fed’s repo […]