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Market News

Location American Market News for 13 June 2023

OPEC Production Slumps as Voluntary Cuts Bite

Wall Street Journal - 13 Jun 2023 13:56
The group accelerated its efforts to tighten the oil market as a handful of the group's largest members sharply slashed output as planned.
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Oilfield-Services Companies Hold Merger Talks

Wall Street Journal - 13 Jun 2023 00:52
NexTier Oilfield Solutions and Patterson-UTI Energy are discussing a deal that would create a bigger player in a consolidating industry.
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Oracle's cloud infrastructure revenue growth accelerated in the fiscal fourth quarter, and the company sees revenue faster growth than expected.
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CAVA IPO Gets More Ridiculous

Forbes - 13 Jun 2023 20:12
CAVA IPO Gets More Ridiculous It appears investors did not heed my advice; so I am reiterating my warning with details from my reverse DCF model on just how overvalued this IPO is.
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Does a landlord have the right to arbitrarily increase house rent? As per provisions of the Maharashtra Rent Control Act, a landlord cannot increase the rent of the tenanted premises by more than 24% per annum
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The popular myths about investment advisers that need to be corrected Advisers take time to plan the portfolio according to the expectations and needs of the family and this financial planning does not need to get altered very frequently.
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Dabbled in F&Os? Making these tax filing mistakes can cost you dearly More than 4.5 million people traded in equity F&Os in FY22, and they need to mandatorily file their (ITR) in the current assessment year, irrespective of whether they are individuals with total taxable income below the �...
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Why you should avoid filing tax returns before 15 June Experts warn early birds filing income tax returns (ITRs) that their annual income statement (AIS) could be outdated. Data pertaining to tax deducted at source (TDS) and the statement of financial transactions (SFT) usua...
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FTX founder Sam Bankman-Fried wants to make his case to the Bahamas that some of the U.S. fraud charges he faces over the collapse of the crypto-exchange violate the terms of his extradition.
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The Case for an Inflation Cool-Down

Wall Street Journal - 13 Jun 2023 16:27
Could inflation come down quickly enough to keep the Fed at bay?
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After Flushing $10 Billion, Why WeWork Is Not Working The stock is trading around 20 cents, down more than 95 percent from October 2021 when it secured a stock market listing through a merger.
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The fund's value is down 11% in June after the regulator sued Binance, alleging the operation of an illegal trading platform and misuse of customers' money.
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Earnings Preview: What To Expect From Jabil On Thursday Jabil is scheduled to report earnings before Thursday's open. Here's a closer look at the last quarter's results.
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Disney Stock Could More Than Double If It Recovers To Pre-Inflation Shock Highs Disney stock currently trades at $92 per share, about 54% below its pre-inflation shock high of about $202 seen on March 8, 2021.
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Redditors Go To War With The Company As It Enforces Eye-Watering Prices For Reddit API The move is controversial, with many third-party apps having to shut down as a result, but the Reddit CEO has his reasons and doesn't appear to be backing down
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A Cheap Fund That Turns AI Hype Into 10% Dividends Few folks know it, but there's a way to tap the surging AI trend for a growing 10% dividend. Better still, this monster "AI-powered payout" comes our way monthly.
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What To Expect From Deutsche Bank Stock?

Forbes - 13 Jun 2023 14:00
What To Expect From Deutsche Bank Stock? Deutsche Bank's stock (NYSE: DB) has lost 8% YTD, as compared to the 12% rise in the S&P500 over the same period.
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China's Recovery Is in Real Peril Now

Wall Street Journal - 13 Jun 2023 13:59
China's central bank cut its key short-term rate on Tuesday. On top of weak lending data for May, that should be ringing alarm bells.
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Goldman Sachs Is at War With Itself

Wall Street Journal - 13 Jun 2023 13:03
CEO David Solomon has come under fire from partners who complain about bonuses, strategy and that DJ side gig.
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Down 9% This Year, What's Next For Rio Tinto Stock? The underperformance comes as the prices for iron ore - which accounts for over half of Rio's revenues - have cooled, declining from about $130 per ton in March to lev...
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How a Housing Bet Went Wrong for Activist Investor Elliott

Wall Street Journal - 13 Jun 2023 12:45
The hedge fund's strategy of buying into takeovers and pushing for a higher price has misfired with two of Europe's largest property companies.
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Will Western Digital Stock Rebound To Its Pre-Inflation Shock Highs? The stock has gained 22% since September 2022 compared to the S&P 500, which gained about 20% during this period.
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