Target Financial News

(Reuters) — Snap shares jumped 11% on Monday after a media report said the social media company is expected to have more than 475 million daily active users (DAUs) in 2024, above Wall Street expectations.

Investing.com — Here is your Pro Recap of the biggest analyst picks you may have missed today: several Buy initiations at Instacart, and upgrades at Pfizer , Wayfair, Nice, and Nucor.

Investing.com — Here is your Pro Recap of the biggest analyst cuts you may have missed today: downgrades at Cummins, JD.com, BioNTech, Crown Castle, and KB Home.

By Steve Scherer and David Ljunggren

Businesses are still expecting to pass on bigger price hikes to consumers amid fears the Bank of Canada’s inflation fight has stalled, according to the central bank’s own surveys.

An Israeli ground offensive in the Gaza Strip would further escalate the conflict raging since Hamas launched its unprecedented attack, killing hundreds of civilians.

A new study finds that the medicine in the diabetes drug Mounjaro helped people with obesity or who are overweight lose at least a quarter of their body weight

Environmentalists are poised to return to court in an ongoing legal battle with the Biden administration over a Nevada lithium mine

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

Israel-Hamas War: As Israel Defence Forces (IDF) prepares for a ground offensive in Gaza against Hamas targets, Israel's Minister of Diaspora Affairs, Amichai Chikli has recommended Hamas militants to lay down weapons and come out of the tunnel if they want any chance at mercy from Israel. The development comes as Israel's Prime Minister's Office clarified on Monday that there is no ceasefire in Gaza.

By Steven Scheer

(Reuters) — Chicago Fed president Austan Goolsbee said it is «undeniable» that the slowdown in U.S. inflation is a trend rather than a momentary blip, despite a recent string of economic data showing persistent pressure on some prices, the Financial Times reported on Monday.

₹438.35 apiece on NSE. The then beaten down stock bottomed out at its record low and witnessed strong bottom fishing by value pickers. This value picking has paid dividend to those value investors as it has ascended to the tune of ₹935 apiece levels today after bottoming out from its record lower levels.

Investment bank UBS began sounding fund managers for Liontown Resources’ emergency equity raising on Monday evening, after Albemarle yanked its $6.6 billion bid for the lithium explorer before market open.

Paytm to Rs 1,250, signalling a potential upside of about 30% from current levels, global brokerage firm Goldman Sachs said it expects the fintech major to be the most profitable company within the internet sector. «Paytm’s operating metrics have been surprisingly positive, and we are further raising our FY24-26E EBITDA estimates by 2-5%, with our target price moving to Rs 1,250 (was Rs1,200),» Goldman said, adding that it has a forecast of 30% YoY revenue growth for Paytm in Q2. Paytm is seen turning net income positive in FY25, which could be a catalyst for the stock. «At 37x FY26 P/E, Paytm trades at a 20%/50% discount to Zomato/Nykaa, which we do not see as justified given Paytm’s growth profile (26% FY23-25E revenue CAGR),» Goldman said. Besides continued momentum in lending and payments, resolution of outstanding regulatory issues (customer onboarding ban on Paytm Payments Bank or online merchant onboarding ban), and/or inclusion of a bank as a lending partner could act as catalysts for Paytm. The stock has rallied over 76% so far in the calendar year 2023. «Investor pushbacks have been around negative impact on Paytm from a potentially adverse credit cycle, and while we expect Paytm to prioritize credit quality over growth, we expect FY25 financial services revenues to still grow 36% YoY (vs 61% in FY24),» Goldman analysts said. Global brokerage Bernstein recently added Paytm in its list of 12 bottom-up ideas for the rest of the year saying that the company appears to be on the right side of disruption with its dominant payments platform and a head start in digital credit products. «Its underwriting and collection outcomes are impressive too, but remain untested through a full credit cycle.

Movin, a joint venture between UPS and InterGlobe Enterprises, on Monday, started operations by introducing the second fleet of Electric Vehicles (EV) for its first and last-mile deliveries in Bengaluru, said the brand through its press release. The first fleet was rolled out in Delhi NCR earlier this year. EVs will soon be deployed in Mumbai, Chennai, Hyderabad, Kolkata, and Pune by the end of 2023 as part of its plan to reduce carbon emissions and to align with its long-term sustainability goals, said the company in its statement.

Siddaramaiah on Monday said the Congress high command has not sought any funds from the party regime in Karnataka to meet the party’s campaign expenses in the five states that are facing polls in November. His comments followed the attacks from the Opposition BJP and JDS linking the estimated Rs 82 crore cash recovered by the income tax authorities from a series of raids on two contractors in Bengaluru. While one of them is an office bearer of the state contractor association, the other is a spouse of a former corporator. Chattisgarh, Madhya Pradesh, Mizoram, Rajasthan and Telangana are headed to assembly elections in November, and the Opposition parties have accused the ruling Congress of turning the southern state into an ATM to fund the party’s campaign expenses in these states. But the chief minister strongly denied the allegations.

Laurence Balanco, Technical Analyst, CLSA, says “the Indian market in dollar terms does not look as significant as it does in local currency terms and then on a relative basis. But the key message from the longer term side is that India, both in relative terms on a dollar basis, as well as in local currency terms, is in a longer term uptrend. The longer term trend is intact and should sustain itself. It is really about picking spots where to add new longer positions.” If I look at the world right now, equities as an asset class is at a multi-month high. Now, while other markets are in and around their 52-week high, India is the only big market which is at a lifetime high. So, where does India go? It has already hit a lifetime high a couple of weeks ago? Yes, the Indian trend from a longer term side, the Nifty had that breakout that early in the year around June when it reached above the 19,000 zone was significant and we still got longer term targets of 22,800.

The MCX December gold futures were trading at Rs 59,040 per 10 gram, down by Rs 368, or 0.62%. Meanwhile, the December silver futures were trading at Rs 70,870 per kg, lower by Rs 417 or 0.58%.

After an air campaign resulting in hundreds of casualties, experts believe an Israeli ground invasion of Gaza is imminent, in response to Hamas' attacks that took approximately 1,300 lives in Israel. This potential ground offensive poses a risk of a broader regional conflict. Mint takes a closer look: Tensions flared on 7 October when Hamas targeted Israel in a coordinated assault.

Embassy Office Parks REIT: The brokerage is bullish on the stock with a target price of ₹340, indicating an upside of almost 11 percent. The growth drivers for Embassy are an expansion of operational area (6.9msf to be commissioned by FY26E), contractual rent escalations (12-15 percent increases every 3 years), reversion of rentals to market levels (11-29 percent higher), and lease-up of vacant offices, said the brokerage. Embassy Office Parks REIT owns Asia’s largest office portfolio on a leasable area basis, which is currently at 45.0msf (34.3msf operational, development pipeline of 7.9msf & 2.8msf of forthcoming projects).