Tag Archives: Market News

Following the earnings report, the shares of PepsiCo saw a price increase. Yesterday, PepsiCo stock closed the trading session at $161.36 per share. In the pre-market trade today, PepsiCo shares are 0.84% up, or at $162.71 per share. PepsiCo (NASDAQ: PEP) has released its earnings report for the third quarter of 2023. One of the world’s largest food and beverage companies has managed to beat Wall Street’s estimates, delivering better-than-expected results. Due to great performance in Q3,...

In 2024, the prices are expected to further go up. According to a Wall Street analyst Brandt Montour, the rise in ticket prices for 2024 sailings will be set 20% to 30% higher than 2019 levels. The 2023 cruise industry is booming, it has significantly surpassed pre-pandemic 2019 levels and broken sales records in a rapid comeback. Revenue in the cruise market is expected to reach as much as $25.14 billion this year. Amid a strong and increasing travel demand, cruise operators are raising...

OPEC strongly criticized the IEA’s forecast of peak fossil fuel demand before the decade’s end, labeling the IEA’s narrative as “extremely risky”, “impractical”, and “ideologically driven”. OPEC has revised its medium- and long-term projections for global oil demand upward. The oil-producing consortium stated that meeting this increased demand would necessitate a substantial $14 trillion investment in the crude sector. This development comes even in the face of a rapid expansion of...

Colombian banker and real estate developer Jaime Gilinski Bacal pumped £102 million making him the dorman stakeholder with 53% stake. During the early trading hours on Monday, October 9, shares of Metro Bank Holdings (LON: MTRO) jumped by a staggering 26%. At press time, the MTRO stock is trading at 52.60 GBX.  Metro Bank Shares The sharp surge in stock price comes as Metro Bank announced a £325 million ($395.6 million) capital raise and £600 million in debt refinancing on Sunday, October...

Beyond its crypto options offerings, the exchange has set its sights on obtaining a brokerage license in the European Union (EU). Deribit, one of the world’s leading crypto options exchanges, has recently made a significant announcement that it is set to introduce options contracts linked to three prominent alternative cryptocurrencies: XRP, Solana (SOL), and Polygon (MATIC). This expansion initiative comes on the heels of Deribit’s continued efforts to cater to the evolving needs of...

The unexpected strength in the labor market presents a dilemma for the Federal Reserve. Policymakers are grappling with the question of whether to raise interest rates further to cool the economy and combat rising inflation. In a welcome development for the US economy, the Labor Department released its monthly Employment Situation Report, revealing that nonfarm payrolls surged by an impressive 336,000 in September. The standout feature of the September jobs report is that the increase...

Tesla has cut prices after it announced a slowdown in deliveries. The company said the decline was caused by factory upgrades. Tesla Inc (NASDAQ: TSLA) has reduced US prices of its Model Y and Model 3 cars following third-quarter delivery figures that did not meet expectations.  According to the company’s website, the starting price for the Model 3 is $38,990, lower than the previous $40,240 listing. The long-range version dropped from $45,990 to $47,240, while the Model 3 was reduced from...

The approval came after the FTC in the United States initially filed a lawsuit to block the Activision Blizzard acquisition last year. According to a Friday report from The Verge, Microsoft Corp (NASDAQ: MSFT) is edging closer to finalizing its proposed $68.7 billion acquisition of Activision Blizzard, with an expected announcement set for next week. The US-based tech giant has earmarked October 13 as the potential closing date for the deal. The long-awaited acquisition, which has been in...

A filing with the SEC shows that Exxon Mobil’s third-quarter earnings received a major boost from the high crude oil prices Oil and gas giant Exxon Mobil Corp (NYSE: XOM) is said to be in advanced talks to acquire shale-focused company Pioneer Natural Resources Co. According to a Wall Street Journal report citing an anonymous source familiar with the matter, the deal is estimated to be valued at up to $60 billion and could be closed within the coming days. Earlier in April, WSJ had that...

Market participants have been particularly attentive to any signals that the Federal Reserve may continue to raise interest rates. A recent report from the Labor Department has revealed that initial filings for jobless claims or unemployment benefits for the week ended September 30th reached a seasonally adjusted 207,000. While this statistic represents a 2000 rise over the previous figure, it fell short of the Dow Jones consensus projection of 210,000, indicating that the job market...