YAHOO FINANCE CHARTBOOK 32 charts that explain markets and the economy right now HKSE - Delayed Quote • HKD (59609.HK) Follow Compare 0.060 -0.015 (-20.27%) At close: 2:30 PM GMT+8 Related News Spotify stock jumps on strong earnings growth amid turnaround plan Spotify reported quarterly earnings before the bell on Tuesday. Here's what to know. Porsche scales back EV target as global demand cools German automaker Porsche (POAHY) — which is owned by Volkswagen (VOW.DE) — has adjusted its electric vehicle (EV) target in response to cooling global demand. The luxury automaker has stepped back from its previous goal of having 80% of its sales come from EVs by 2030. Yahoo Finance senior autos reporter Pras Subramanian breaks down the details of Porsche's revised outlook on electric vehicles, hybrids, and traditional gas-powered cars. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith AMC stock rises on debt restructuring announcement Shares of AMC Entertainment (AMC) are rising after an agreement was reached with creditors to restructure its debt. The company calls the deal "transformational," adding it will help the theater chain "strengthen the balance sheet, pave the way for future delevering, and align the capital structure with the expected industry growth trajectory." Market Domination Hosts Julie Hyman and Josh Lipton break down the agreement and the state of the box office this summer. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Melanie Riehl Top 3 tech picks ahead of Q2 earnings: Evercore's Mahaney Evercore ISI managing director and head of internet research Mark Mahaney joins Catalysts to discuss his top picks in the tech sector ahead of this week's major earnings. "We've had a big rally in a lot of these stocks. I refer to six stocks as the Super Six.' It's Google (GOOG, GOOGL), Amazon (AMZN), Meta [Platforms] (META), Netflix (NFLX), Spotify (SPOT), Trade Desk (TTD). They're all up 30 to 60% year to date. Having said that, it's hard to materially outperform if you're up that much year to date, off of reasonable valuations to begin the year, not off of beaten-down lows, which was the case last year. So I want to be highly selective here," Mahaney explains. He is bullish on Alphabet because of its product cycle and growth in its YouTube platform, also pointing to Uber (UBER) as his number two pick, "I think we just had some dislocation in the stock recently over fears of robotaxis and how that could disrupt ridesharing. I don't think it will. I think robotaxis will be part of the ridesharing solution." On the other hand, Mahaney does not have Amazon in his top three list of tech stocks despite maintaining its Buy rating. He explains, "I was a little concerned about some of the iffy retail sales data points that we've seen. April and May were weak. However, June came back gangbusters, so there may not be. There probably isn't a problem with Amazon retail..." Catch Catalysts' full interview with Mark Mahaney. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl Navigating student loans, inheritance, pet insurance: Wealth! On today's episode of Wealth!, Alexandra Canal breaks down key stories impacting your personal finances, from student loan forgiveness to inflation's impact on pet insurance. US Vice President Kamala Harris has begun her campaign to be the Democratic nominee for the 2024 presidential election after President Biden exited the race. Many questions surround her policies and how she may frame her campaign, but one of the biggest is who she will choose as a running mate,. Yahoo Finance Senior Columnist Rick Newman breaks it down. Many voters are also questioning the future of student loan forgiveness Jennifer Finetti, ScholarshipOwl's Director of Student Advocacy, is cautious about assuming Harris will adopt the exact same approach to relief as the Biden Administration. Over $38 trillion will be transferred from older generations to millennials and Gen Z, according to data from NOYACK and Cerulli Associates. NOYACK Wealth Club founder CJ Follini discusses what to focus on when receiving an inheritance, explaining, "So first thing is, what is your why? Why are you doing these things? Do you have life goals, do you have goals of planning for a retirement? Do you have a family that you want to provide for their future wealth and their future generally? Are you just thinking about the numbers of portfolio wealth building? Well, that's diversification, which for me is the beginning of every single discussion when it comes to personal wealth management." Multiple fast-food chains have rolled out value meals and value items to their menus as incentives to get customers back into their restaurants, including McDonald's (MCD), which is extending the stay of its $5 meal deal. Yahoo Finance senior reporter Brooke DiPalma joins Wealth! to discuss how fast-food companies are utilizing value meal strategies and whether or not they are truly helping, or possibly hurting, their bottom lines. As of 2024, 66% of US households, or 86.9 million homes, own a pet, with almost 45% of those pets being dogs, according to data from American Veterinary Medical Association. Yet, according to the North American Pet Insurance Association, only 2.8% of them have health insurance. Spot Pet Insurance CEO Trey Ferro explains why inflation hasn't hurt the business of pet insurance: "People are understanding that pets are expensive. Vet health care has increased in price higher than the national inflation rate. There's not that many vets coming out of veterinary school anymore. People are very cautious of these vet care needs and they're expecting more from their vets. People are now expecting child-like care for their family members." For more expert insight and the latest market action, click here. This post was written by Melanie Riehl Choosing the best phone plan for your needs Are you in the market for a new phone and struggling to decide on the best plan and provider? CNET senior editor Eli Blumenthal joins Alexandra Canal in-studio to break down the most suitable plans, providers, and bundle deals for consumers. Blumenthal emphasizes that the main factor to consider when choosing a phone plan should be your usage locations, as this determines which provider offers the best coverage. "Coverage is the most important thing, because if you don't have service... your phone's not really that great." For single-line users, Blumenthal recommends T-Mobile's (TMUS) Essential Saver plan, which is $50 per month. For family plans, he suggests consumers look into Verizon's (VZ) Unlimited Welcome plan, which offers attractive bundles and perks for subscribers. Verizon reported its second quarter earnings results Monday morning, disclosing a revenue miss while seeing growth in postpaid phone subscribers. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith Coca-Cola expected to see momentum continue in Q2 despite cautious consumers Investors hope Coca-Cola will hold on to its momentum and deliver a bubbly quarter on Tuesday. Verizon stock falls, subscribers grow in Q2 revenue miss Telecom and wireless network operator Verizon (VZ) is slipping ahead of Monday's market open after reporting second quarter earnings results: its adjusted earnings per share of $1.15 coming in line with expectations while missing on revenue forecasts ($32.8 billion against an expected $33.07 billion). The Morning Brief's Seana Smith and Madison Mills break down Verizon's earnings figures, including the growth it is reporting in its phone subscribers and bundling incentives. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan. Stocks to Watch Tuesday: Spotify, GM, Alphabet, UPS, Tesla 🔎 **Alphabet (GOOG),** **(GOOGL)**: Google’s talks to acquire the cybersecurity startup Wiz for a planned $23 billion have fallen apart, the Journal reported. Google parent Alphabet is due to report results after Tuesday's market close. UPS boosts volume in US for first time since 2022, but profit and revenue slide UPS boosted its volume in the U.S. for the first time since 2022 during its second quarter, but profit and revenue fell short of Wall Street expectations, partly due to a hefty charge. CEO Carol Tome said the package delivery company returned to volume growth in the U.S. during the quarter for the first time in nine quarters. “This quarter was a significant turning point for our company," Tome said in a prepared statement. Streaming Music Giant Spotify Beats Q2 Subscriber, Profit Targets Streaming music giant Spotify Technology beat expectations for subscribers and earnings in the second quarter. NXP Semiconductors Provides Downbeat Guidance as Quarterly Earnings Fall NXP Semiconductors Provides Downbeat Guidance as Quarterly Earnings Fall With US vehicle prices averaging near $50K, General Motors sees 2nd-quarter profits rise 15% U.S. customers who bought a new General Motors vehicle last quarter paid an average of just under $49,900, a price that helped push the company's net income 15% above a year ago. While the average sales price was down slightly from a year ago, GM sold 903,000 vehicles to dealers in North America during the quarter, 70,000 more than the same period in 2023. Early in the year GM predicted that prices would drop 2% to 2.5% this year, but so far that hasn’t materialized, Jacobson said. GM Lifts Profit Outlook as U.S. Market Carries Load General Motors on Tuesday raised its adjusted profit outlook for 2024, saying prices and demand in the U.S. remained steady even as consumers grappled with more-expensive financing. Strength in the automaker’s home market offset further erosion in China, where GM lost money for the second straight quarter amid stiff competition from homegrown Chinese brands. GM is working to restructure its China business after efforts to cut costs and inventories haven’t changed the picture, chief financial officer Paul Jacobson said during a media briefing. GM Releases 2024 Second-Quarter Results and Raises Full-Year Guidance General Motors Co. (NYSE: GM) today reported second-quarter 2024 revenue of $48.0 billion, net income attributable to stockholders of $2.9 billion and EBIT-adjusted of $4.4 billion. Market Chatter: Wiz Ends $23 Billion Acquisition Talks With Alphabet Market Chatter: Wiz Ends $23 Billion Acquisition Talks With Alphabet Nasdaq, S&P 500 Futures Edge Lower Stock futures were drifting after Tesla and other tech companies helped propel the stock market higher in the previous session. Google to keep cookies in Chrome in major U-turn Cookies allow websites and advertisers to learn about users' web surfing habits. 2 Top Artificial Intelligence (AI) Stocks Ready for a Bull Run Although both companies have had good years, there are still lucrative growth opportunities ahead. UPS misses quarterly estimates on high labor costs, weak small-package demand Shares of the delivery company, seen as a bellwether for the global economy, were down about 7% in premarket trading, while shares of rival FedEx fell about 2%. UPS, FedEx and other home delivery providers have been slashing costs since the end of home-bound consumers' early pandemic e-commerce binge in late 2021. Demand for doorstep delivery has since been stubbornly lackluster, in part due to higher costs for food and shelter.
