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Baystreet.ca - What Happens After Apple Posts an Earnings Drop
When Apple (AAPL) posts its fiscal second-quarter results on May 2, 2024, analysts expect the smartphone giant to post a drop in earnings. When that happens, Apple will be the only company posting an EPS decline among the top five S&P 500 (SPY) companies. ...
Baystreet.ca - S&P Lower, as Investors Brace for Fed Decision
Canada's main stock index touched its lowest in nearly a week amid a broad sell-off, as investors remained cautious ahead of the U.S. Federal Reserve's interest rate decision later in the day. The TSX Composite decreased 62.52 points, or 1.4%, to ...
Baystreet.ca - SkyWater Join Lumotive on Beamforming Technology
SkyWater Technology (NASDAQ: SKYT) noticed its share price sliding Wednesday. The company, boasting a status as the trusted technology realization partner, and Lumotive, a pioneer in optical semiconductor technology for 3D sensing, announced today that ...
Baystreet.ca - European Cruise Operator Viking Holds U.S. IPO
European cruise operator Viking is holding its initial public offering (IPO) in New York today (May 1) in what is widely expected to be the biggest market debut of the year so far. Viking Holdings, which is headquartered in Basel, Switzerland and ...
Baystreet.ca - Futures Fall Ahead of U.S. Fed Rate Decision
Futures for Canada's main stock index dipped on Wednesday, ahead of the U.S. Federal Reserve's interest rate decision later in the day, while investors awaited more domestic economic data to gauge the strength of the Canadian economy. The TSX Composite ...
Baystreet.ca - Cannabis Stocks Surge As U.S. Moves To Reclassify Drug
Cannabis stocks are marching higher on news that the administration of U.S. President Joe Biden is moving to reclassify the recreational drug and ease federal restrictions imposed on it. Specifically, the Biden administration is proposing to reclassify ...
Baystreet.ca - Canada’s Economy Grew 2.5% In The First Quarter
Preliminary data released by Statistics Canada shows that the national economy grew an annualized 2.5% in this year’s first quarter. The quarterly result comes as gross domestic product (GDP) across Canada rose 0.5% in January, 0.2% in February, ...
Baystreet.ca - The U.S. Supermajors Double Down on World's Top Oil Basins
Profits at ExxonMobil and Chevron have dropped compared to the record-highs of the past two years, but the U.S. supermajors are doubling down on oil production from the two most prolific growth basins, the Permian shale patch and a top-performing block ...
Baystreet.ca - Fed’s Next Move Not Likely a Hike: Powell
Stocks in Canada’s largest centre survived a volatile session Wednesday before resting just ahead of breakeven, powered largely utility stocks. The TSX Composite hung onto gains of 14.01 points to close the mid-week session at 21,728.55. The ...
Baystreet.ca - AMD Beats On Earnings And Raises A.I. Chip Sales Forecast
Advanced Micro Devices (AMD) has reported better-than-expected first-quarter financial results and raised its forecast for artificial intelligence (A.I.) microchip sales this year to $4 billion U.S. The microchip and semiconductor designer announced ...
Baystreet.ca - Amazon Tops Earnings Forecasts As Profit Triples
E-commerce giant Amazon (AMZN) has reported better-than-expected first-quarter financial results due largely to accelerating growth in online advertising and cloud computing. The Seattle-based company announced earnings per share (EPS) of $0.98 ...
Baystreet.ca - Johnson & Johnson to Pay in Billions to Settle Suits
Johnson & Johnson (NYSE:JNJ) shares popped on Wednesday, amid word the pharmaceutical giant will pay $6.5 billion to settle nearly all of the thousands of lawsuits in the U.S. claiming its talc-based products caused ovarian cancer. The deal would ...
Baystreet.ca - Breaking News for Stocks: Tesla Layoff, AMD Revenue, and More
When Tesla (TSLA) posted deteriorating results, CEO Elon Musk told shareholders to believe in its play in robotics AI. Unfortunately, news on April 30 that the firm cut staff at the EV charging business is troubling news. Job cuts at the Tesla Supercharger ...
Baystreet.ca - Toronto Market Falls Ahead of U.S. Fed Decision
Canada's main stock index touched its lowest in nearly a week amid a broad sell-off, as investors remained cautious ahead of the U.S. Federal Reserve's interest rate decision later in the day. The TSX Composite decreased 43.31 points to pause ...
Baystreet.ca - Super Micro Computer’s Stock Falls Despite 200% Revenue Growth
The stock of Super Micro Computer (SMCI) is down 10% despite the company reporting 200% annualized revenue growth for this year’s first quarter and raising its forward guidance. The meteoric growth doesn’t seem to be enough to impress investors ...
Baystreet.ca - Oil Prices Fall for 3rd Straight Day
U.S. crude oil fell below $81 a barrel Wednesday in the third straight day of losses as hopes for ceasefire in Gaza and growing concerns about the future course of interest rates in the U.S. weighed on prices. U.S. crude oil is now off 8% from its ...
Baystreet.ca - Hot Stocks for Wednesday: SMCI, DJT, Pinterest, and More
Priced for perfect results, Super Micro Computer (SMCI) may trade 10% lower this morning. The firm reported revenue doubling Y/Y to $3.85 billion. SMCI raised its Q4/2024 guidance, lifting both its net sales and EPS expectations. For FY 2024, it ...
Baystreet.ca - Shares Of Starbucks Drop 13% On Earnings Miss And Weak Outlook
The stock of Starbucks (SBUX) is down 13% after the retail coffee chain reported disappointing quarterly financial results and lowered its forward guidance. The Seattle-based company announced earnings per share (EPS) of $0.68 U.S. compared to ...
Baystreet.ca - USD / CAD - Canadian Dollar Sinks into FOMC meeting
- Fed expected to adopt a hawkish bias. - Governor Tiff Macklem address Senate Banking Committee. - USD opens with a bid, consolidating yesterday’s gains. USDCAD: open 1.3773, overnight range 1.3767-1.3784, close 1.3780, WTI $80.43, ...
Baystreet.ca - Promising Outlook as Biotech Sector Advances Cancer Treatments Amidst Rising Diagnoses
USA News Group – An alarming trend is happening around the world, where tens of millions of progressively younger people are being diagnosed with of cancer. A new report from the American Cancer Society projects that by 2050, the number of people ...
Baystreet.ca - AstraZeneca Jumps Ahead of Showing New Data
AstraZeneca (NASDAQLAZN) will showcase new clinical and real-world data across its leading inhaled, biologic and early science respiratory portfolio at the American Thoracic Society (ATS) International Conference, in San Diego from May 17 – 22. The company ...
Baystreet.ca - Microsoft and Brookfield Sign $10-Billion Renewable Power Deal
Tech giant Microsoft has signed a global framework agreement to back renewable power projects that could be worth about $10 billion and buy the power that would be developed by Brookfield Asset Management, the Financial Times reported on Wednesday. The ...
Baystreet.ca - Australia, New Zealand Slip as U.S. Fed Word Looms
Australian and Japanese markets fell Wednesday as investors brace for the U.S. Federal Reserve’s rate decision, due early Thursday in Asia. Investors will also keep an eye on the yen, which saw a volatile start to the week amid suspected intervention ...
Baystreet.ca - Dow Pulls Ahead, S&P Cautious Before Fed Decision
Canada's main stock index touched its lowest in nearly a week amid a broad sell-off, as investors remained cautious ahead of the U.S. Federal Reserve's interest rate decision later in the day. The TSX Composite decreased 43.31 points to pause ...
Baystreet.ca - Wednesday's Urgent News: FOMC Decision Day, Yields, and Panic
When stock markets open, the direction will not matter. Today, the FOMC (Federal Reserve Open Markets Committee) announces its interest rate decision at 2 p.m. After the last hot inflation report, markets already expect no change in rates. Yet worries ...
Baystreet.ca - Sitka, New Gold, Orogen at 52-Week High on News
Sitka Gold Corp. (V.SIG) hit a new 52-week high of 26 cents Wednesday. Sitka announced the first drill hole DDRCCC-23-057 of the 2024 drill campaign has intersected significant gold results south of the current Blackjack Gold Deposit resource. Hole 57 ...
Baystreet.ca - Securing America's Future: New Investments Aim to Reduce Dependency on Imported Critical Minerals
USA News Group – In an effort to bolster the domestic supply chain for critical minerals and materials, the Biden Administration recently announced a $17.5-million investment to develop more affordable, sustainable production processes throughout ...
Baystreet.ca - McDonald’s Posts Mixed Results As Consumers Pullback
McDonald’s (MCD) has reported mixed first-quarter financial results as consumers pullback on discretionary spending and boycotts hurt sales in the Middle East. The Chicago-based restaurant chain reported earnings per share of $2.70 U.S. versus $2.72 ...
Baystreet.ca - Boston Beer Reports Profit - Stock Remains Static
Boston Beer (NYSE:SAM) is a Boston-based company that produces and sells alcohol beverages primarily in the United States. Alcohol consumption has varied among age demographic groups in the 21st century. For example, the baby boomer cohort were large ...
Baystreet.ca - Tuesday's Biggest Movers: TSLA, ALB, DPZ, DJT, and GOOG
Over the past weekend, Tesla (TSLA) CEO Elon Musk traveled to China to solidify support for the company’s self-driving software. The firm reached a deal with Baidu (BIDU) to access the local search company’s mapping license for data collection on Chinese ...
Baystreet.ca - Stocks To Watch Today: PayPal, McDonald's, and Coca-Cola
Three of the most-watched companies will post quarterly results this morning. They are PayPal (PYPL), McDonald's (MCD), and Coca-Cola (KO). In the fintech sector, expectations are low for PayPal. Its peer, SoFi (SOFI), posted a two-cent profit ...
Baystreet.ca - Dave & Busters Lets Customers Bet
Arcade giant Dave & Buster’s (NASDAQ:PLAY) shares were fairly flat Tuesday on word the restaurant chain is taking its games to a new level by offering social wagering on its app. Customers can soon make a friendly $5 wager on a Hot Shots basketball ...