Myomo stock earnings

Share to Twitter Share to Linkedin Topline Cruise stocks tanked on Wednesday after yet another major Wall Street firm warned that weak demand and higher costs could sink industry profits and lead to another demand shock, with Morgan Stanley cautioning that Carnival shares could lose all of their value if the economy falls into a recession. Key Facts Shares of Carnival plunged 14% to less than $9 per share on Wednesday after Morgan Stanley warned that the company could face heavy losses amid weakening demand and higher costs. The investment bank slashed its price target on the stock to $7 per share from $13, one of the lowest forecasts on Wall Street, while also warning that Carnival’s earnings in 2022 and 2023 are likely to take a hit. Morgan Stanley slashed full-year EBITDA estimates for the company from nearly a $1 billion profit to a $900 million loss, “due to weaker than expected occupancies, weakening pricing, elevated unit costs and … [Read more...] about Carnival Shares Plunge Nearly 15% As Morgan Stanley Warns Of Potential Stock Wipeout

Share to Twitter Share to Linkedin Topline Home retailer Bed Bath & Beyond announced Wednesday the ouster of its chief executive Mark Tritton on the back of disappointing earnings, sending shares of the company tumbling and capping a disastrous stretch for the home retailer. Key Facts Bed Bath & Beyond also announced earnings for the first quarter of its 2022 fiscal year Wednesday that fell well short of analyst expectations: its $2.83 loss per share in the three-month period ending May 28 was far worse than the $1.39 analyst average, according to Refinitiv. Sales for the quarter were down 25% compared to the same period last year. Tritton had been the company’s CEO since 2019, and his exit is effective immediately. Bed Bath & Beyond said its interim CEO will be Sue Gove, an independent director on the company’s board, who said in a statement the company “must deliver improved results.” Shares of Bed Bath & … [Read more...] about Bed Bath & Beyond Replaces CEO, Falls Short On Earnings

Commodity stocks including metals, miners and energy names have seen profit booking in the recent months even as supply problems are far from over while prices of commodities have been choppy. Nifty Commodities index, comprising names like Reliance Industries, ONGC, UltraTech cements, Vedanta and 26 others, has fallen about 23 per cent from 52-week highs hit in April –  at the height of Russia-Western World tensions. Commodity stocks – especially from metal and energy sectors – were among the biggest gainers in the recent boom in prices led by burgeoning demand after the pandemic. However, as the demand is plateauing, prices have also decreased for many commodities. Does that mean the super cycle in these names are over and investors should taper their expectations from now on, thus exiting the space? Not really, said analysts, who believe there could be another round of buying as the situation remains precarious. “Commodity stocks have already fallen from their recent … [Read more...] about As stocks trade off highs, is the rally in commodities over?

Share to Twitter Share to Linkedin TOPLINE The cruise industry has been rocked by the coronavirus shutdowns, but Credit Suisse is making a bold bet that the stocks of two major players will surge over 50% and lead the industry’s eventual recovery. KEY FACTS The firm initiated coverage of the big cruise operators on Thursday, assigning outperform ratings for Royal Caribbean and Norwegian, which have seen their shares fall over 70% so far in 2020. Credit Suisse gives them price targets of $67 per share and $21 per share, respectively, implying upside of over 50% for both stocks based on Friday’s closing prices. While coronavirus will likely have a “lasting impact” on the industry, “the unmatched value proposition” of cruise lines will be a “driving force behind a recovery,” analyst Benjamin Chaiken wrote in a note to clients. Cruises have been suspended and big operators have gone into survival mode , raising liquidity to cover their … [Read more...] about Credit Suisse Thinks These Cruise Stocks Will Jump Over 50%

- A + A CHICAGO/LONDON (June 30): Skeptics have long made a sport of predicting that the decade-long rally in technology stocks was destined to reverse. At the halfway point of 2022, it seems like this is the year when they will be proven right. The Nasdaq 100 Index has tumbled by almost a third this year, including a 0.9% drop on Thursday, erasing some US$5.4 trillion in value in a selloff that has left few stocks unscathed. The benchmark, which gets half its value from tech, is on track for its biggest calendar-year decline ever. And it’s hard to make a convincing case for a market recovery in the second half: Investors are pricing in further interest rate increases from the Federal Reserve as the central bank tries to combat inflation, sparking concern that the global economy will tip into recession. Analysts are beginning to cut earnings estimates for technology companies as a result. “The issue is that we haven’t really seen inflation like this in … [Read more...] about Technology stocks head for historic wipeout as US economy cools

- A + A (June 30): Taiwan’s stock benchmark index slumped on Thursday (June 30), taking its decline from a January high to over 19% and just points away from a so-called bear market. The Taiex gauge closed 2.7% lower in Taipei, the worst performer in Asia. It was dragged by chipmakers after Bank of America took a cautious view on the industry’s growth prospects. Taiwan Semiconductor Manufacturing Co (TSMC), which accounts for more than a quarter of the index’s weighting, dropped 3.1%. Facing headwinds of rate hikes by global central banks, tech-heavy stock markets in Taiwan and South Korea have been the worst performers in Asia this quarter, both down over 15%. Foreign investors have net sold about US$16 billion (about RM70.52 billion) of Taiwan stocks during the three-month period, the most among emerging Asia countries outside China. Taiwan’s deputy finance minister said the National Financial Stabilization Fund will continue to closely monitor the stock market … [Read more...] about Bear market looms for Taiwan stocks after chipmaker-led slump

Bank of Baroda reports profit of Rs 1779 crore in March quarter. Bank of Baroda has reported a standalone net profit of Rs 1,778.77 crore for the fourth quarter of 2021-22 as against a net loss of Rs 1,046.5 crore a year ago. However, on a sequential basis, the lender’s net profit fell 19 per cent from Rs 2,197.03 crore in the third quarter of last fiscal. Net interest income grew 21.2 per cent to Rs 8,612 crore from Rs 7,107 crore a year ago. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of Bank of Baroda (BoB) advanced higher in early trade on May 16, after the state-owned lender reported a nine-fold jump in its profit after tax (PAT) at Rs 7,272 crore for the financial year ended March 2022 as compared to a PAT of Rs 829 crore registered in FY21. At 11:20 am, the scrip traded at Rs 98.90 apiece on the BSE, up 4.16 … [Read more...] about Bank of Baroda shares gain after lender reports nine-fold jump in PAT for FY22

Share to Twitter Share to Linkedin TOPLINE A day after warning that it may be forced to file for bankruptcy, Norwegian Cruise Line on Wednesday announced that it had raised over $2 billion in funding to ensure that the company can withstand “well over” a year without revenue amid the coronavirus pandemic. KEY FACTS Norwegian raised just over $2.2 billion in a mix of stock and debt, which it says will give the company enough cash to outlast coronavirus and endure “well over 12 months of voyage suspensions in a potential downside scenario.” The series of capital markets transactions, led by Goldman Sachs, include a $400 million public offering of common stock, a $750 million offering of exchangeable senior notes, a $675 million offering of senior secured notes and a $400 million investment from global consumer-focused private equity firm L Catterton. Norwegian now has $3.5 billion in liquidity and will be “well-positioned to weather covid-19 … [Read more...] about Norwegian Cruise Line Raises Over $2 Billion After Warning Of Possible Bankruptcy

Mahesh Patil, chief investment officer at Aditya Birla Sun Life AMC, shares his market outlook with CNBC TV18 and talks inflation cycles as well as slowing economic growth. Moreover, Patil sheds light on sector performances and the spaces that seem fairly valued even under inflationary pressure. Here are edited excerpts from his interview: What are your views about the market and where is the cycle now evolving? Has the focus moved from inflation to global growth slowdown? The markets are at a point where we have seen them reacting to all the negative news - interest rate increases, policy tightening and the correction in the P/E (price to earnings) multiples after witnessing excessive liquidity rally seen last year. Now what is to be seen is to what extent will the interest rate rise and policy tightening impact growth and, in turn, earnings growth of companies. Close The latter part is still low as we haven’t seen an earnings cut so far this fiscal … [Read more...] about Interview | Room for auto sector to move up before hitting pre-pandemic levels: Aditya Birla Sun Life AMC’s investment chief

- A + A (July 1): US stocks slipped on Thursday, setting the Dow up for its worst first six months since 1962, on concerns that a dogged pursuit by central banks to tame inflation would hamper global economic growth. Fears over slowing growth and surging prices have rippled through markets, with recession worries taking center stage as monetary policymakers across the world look to aggressively raise borrowing costs. Federal Reserve Chair Jerome Powell on Wednesday vowed to not let the U.S. economy slip into a "higher inflation regime", even if it means raising interest rates to levels that put growth at risk. The tech-heavy Nasdaq Composite came off session lows but was still set for its largest declines ever for the first-half, while the benchmark S&P 500 tracked its biggest January-June percentage drop since 1970. All the three main indexes are on course to post their second straight quarterly declines for the first time since 2015. Fed policymakers in … [Read more...] about Wall St slides, Dow set for worst first-half since 1962