CWEB, the American multinational media news company and free blog website, has published its latest roundup of news for November 22, summarizing the important events and highlights from across industries and around the world.
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The following are the main highlights as reported in the review:
As investors absorbed the release of the Federal Reserve’s last meeting minutes and awaited findings from artificial intelligence chipmaker Nvidia (NVDA), stocks closed lower on Tuesday, signaling a pause in the November rise.
The European Central Bank is keeping an eye on the markets to make sure they’re not overly sensitive to geopolitical and economic threats, which might jeopardize financial stability, according to the group’s vice president, who made the announcement on Wednesday.
On Tuesday, Best Buy lowered its full-year sales forecast in anticipation of more budget-conscious holiday buyers and a time of lower demand. While sales were lower than expected, the consumer electronics store still managed to meet Wall Street’s quarterly earnings estimates.
A Huge Deal to Re-Enter the News Industry Is in the Works for Jeff Zucker. Taking over The Daily Telegraph and The Spectator, two major British news outlets, and maybe expanding them into the US, is within the grasp of the seasoned TV executive.
Following Javier Milei’s election as president of Argentina, the price of Bitcoin soared. To combat the country’s severe inflation, the self-styled “anarcho-capitalist” proposes dollarizing the economy and dismantling the national bank.
Despite falling short of analyst projections for sales, department store Kohl was able to meet earnings predictions thanks to its cost-cutting initiatives. It expects sales to decline in 2023 and has reduced its revenue prediction due to its inability to generate even modest sales growth.
Ken Griffin is planning to diversify his sports portfolio by acquiring the Miami Dolphins and Formula One. A billionaire hedge fund manager is reportedly in talks to buy a portion of the Miami Dolphins, as well as Hard Rock Stadium and the Formula One Miami Grand Prix, from owner Stephen Ross. Ross owns the franchise in the NFL.
Austin Russell, CEO and founder of Luminar, was unable to acquire Forbes Global Media Holdings in his attempt to complete the acquisition. He first revealed his intentions to acquire 82% of the company in May, at a valuation of approximately $800 million. But the deal fell through because the promised hundreds of millions of dollars from the Indian investment company Sun Group and others never materialized.
Earnings Wednesday, November 22 – Deere (DE).
Stocks to watch with positive momentum and Buy Rating:
Walmart (WMT), Chase Bank (JPM), Microsoft (MSFT), GOOGL, Apple (AAPL), Pay Pal (PYPL), Amazon (AMZN), Carnival Corporation (CCL), PepsiCo (PEP), Wells Fargo (WFC), Johnson & Johnson (JNJ), Philip Morris International (PM)SNAP INC (SNAP), Exxon Mobil (XOM), Chevron (CVX), Groupon (GRPN), EBAY.
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