Jefferies has lowered its price target for Kering (KER
) from EUR 230.00 to EUR 220.00, maintaining a Hold rating amid expectations of a challenging luxury market, particularly due to declining demand in China, leading to downward revisions in earnings estimates for 2024 and 2025.
The euro fell 0.7% against the dollar amid weaker-than-expected economic data from the Eurozone, raising concerns about the region's recovery and prompting speculation about aggressive rate cuts by the European Central Bank.
US stocks closed mixed on Friday as the excitement from the recent Federal Reserve interest rate cut faded, with the Dow Jones Industrial Average reaching a record high while the S&P 500 and Nasdaq saw declines amid ongoing economic concerns.
FedEx reported first-quarter earnings of $3.60 per share, missing expectations of $4.77, with revenue also falling short at $21.6 billion, leading to a downward revision of its fiscal 2025 outlook due to weaker-than-expected shipping demand.
Nvidia's stock has struggled to stay above the 50-day moving average amid market volatility and concerns over potential rate cuts by the Federal Reserve, with mixed analyst opinions and significant news affecting its performance.
Motorola’s stock fell 0.96% amid mixed market performance, while the company’s new Motorola Edge 50 Neo 5G launches in India with premium features, priced at ₹23,999, including IP68 water resistance, a 50MP triple camera setup, and fast charging capabilities.
The Nasdaq Composite closed at 17,594.32 today, falling 0.51%, but remains up 19.15% year-to-date, reflecting strong overall market growth despite short-term volatility.
U.S. stock index futures remained stable on Monday ahead of the Federal Reserve's anticipated rate cuts, while crude oil prices rose amidst concerns about demand and production disruptions.
Boeing's stock fell over 3.6% as the machinists union voted to strike, with historical trends and Moody’s potential credit downgrade suggesting further declines could follow.
Bernstein remains bullish on Nvidia and Broadcom as top semiconductor picks, despite a recent cooling in the sector, while analysts predict robust future performance for these stocks.
