Target Financial News

Here is your Pro Recap of the biggest earnings reports you may have missed this week and how analysts responded: numbers out of retailers Victoria's Secret and Lululemon and tech names Salesforce, HP, Broadcom, and Dell.

(Reuters) — Broadcom (NASDAQ:AVGO) shares fell 4.2% in premarket trading on Friday as the semiconductor maker's quarterly revenue forecast fell short of investors' lofty expectations following bigger rival Nvidia (NASDAQ:NVDA)'s AI-powered blockbuster results.

Investing.com — The U.S. dollar edged lower in early European trade Friday, on course to end a six-week winning streak ahead of the release of the highly-anticipated monthly U.S. jobs report. 

Nifty on Friday moved above the 21-EMA after a gap of several days and formed a long bull candle on the daily charts. On the weekly charts, a reasonable bull candle with minor lower shadow was seen. After showing a false downside breakout of 19250 levels on Thursday, the market seems to have reversed sharply on the upside, said Nagaraj Shetti, Technical Research Analyst at HDFC Securities. The formation of a bullish pattern-like inverted hammer of last week seems to have confirmed this week with sizable upside bounce in the market.

Barclays Plc has earmarked cash from its balance sheet to hold corporate loans and compete directly with private credit funds, according to people with knowledge of the matter, as more banks look for ways to gain a foothold in the $1.5 trillion market for private debt.

Apollo Global Management Inc. hired BlackRock Inc. veteran Rick Moreno to bolster the buyout giant’s US team targeting investment firms for the ultra-rich.

Six months after becoming the chief executive officer at Shell PLC, Wael Sawan quietly ended the world’s biggest corporate plan to develop carbon offsets, the environmental projects designed to counteract the warming effects of CO2 emissions.

Thiruvananthapuram's police force and make it on par with the standards of European law enforcement agencies, the city police have introduced electric hoverboard patrolling. As per a TOI report, these innovative hoverboards will initially be deployed by the traffic police, primarily on bustling roads where conventional two-wheelers and four-wheelers face challenges during patrolling, ensuring the safety of pedestrians. The primary objective behind this initiative is to establish a visible police presence in every nook and cranny of the city.

The Federal Reserve «didn't do their homework» and mischaracterized the spike in inflation that has plagued the U.S. economy over the last two years, according to Nobel Prize-winning economist Joseph Stiglitz.

New Delhi: India’s beauty and personal care market is projected to touch $30 billion by 2027, accounting for about 5% of the global market, according to a report launched by Redseer Strategy Consultants along with Peak XV. The beauty market in India is currently under-penetrated, on a per capita basis spends on beauty and personal care stand at $14 in the country compared to $313 in the US and $38 in China. Meanwhile, the report projects that online commerce will become a “significant channel" for the beauty and personal care industry.

Huawei Technologies has triggered an international guessing game over what is inside it. The company, which has been heavily targeted by U.S. government restrictions, began selling its latest Mate 60 Pro for 6,999 yuan ($964) online on Tuesday, raising eyebrows over its decision not to do any prior advertising and prompting widespread speculation over whether it could be 5G capable.

NEW DELHI/SYDNEY : Indian billionaire Mukesh Ambani's Reliance Retail Ventures is in advanced talks with global investors to raise around $2.5 billion by the end of September, ahead of a potential stock market listing, people familiar with the matter told Reuters. Three sources said the target fund raise of $2.5 billion is part of a combined $3.5 billion target the firm has set for itself, a part of which - $1 billion - came from Qatar Investment Authority (QIA) and was announced last month.

₹10.40 on Friday's sessions. Vodafone shares have closed in the green for the past seven of the last nine trading sessions. Vodafone share price today opened at ₹9.13 on BSE today.

Indian stock market indices declined in the month amid volatility and selling by foreign institutional investors (FII). The benchmark indices Nifty and Sensex fell 2.5% each last month dragged by selling in banking, financials, FMCG and energy sectors. After persistent buying for five consecutive months, the FIIs turned net sellers in the Indian equities last month.

Climate change adaptation and mitigation efforts can benefit immensely from robust intervention. The Gross Domestic Climate Change Risks 2023 report, published by the Cross Dependency Initiative, an organisation that focuses on climate risk analyses, has found that nine Indian states rank among the world’s top 50 at-risk states and provinces. Despite the pace and scale of the crisis, India has been slow to respond.

Germany 206 billion euros ($223.55 billion) in 2023, Germany's digital association Bitkom said Friday. The damage will surpass the 200 billion euro mark for the third consecutive year this year, according to a Bitkom survey of more than 1,000 companies.

Even as investing in mutual funds has become super easy these days, many individuals are still looking for the right way to start their investment journey. In an email to FE Money, one such individual, G Rakesh, says he is earning around Rs 93,000 per month from his job in the IT sector. He wants to know ways to invest in mutual funds.

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India’s growth forecast to 6.7% in 2023 from 5.5% projected earlier, as the Indian economy recorded 7.8% growth in the April-June quarter. “Strong services expansion and capital expenditures propelled India’s 7.8% real GDP growth in the second quarter from a year ago,” Moody’s said in its report. However, the rating and research agency lowered the 2024 forecast down to 6.1% from the 6.5% projected earlier. “Since the second quarter outperformance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5% to 6.1%. Given the robust underlying economic momentum, we also recognize further upside risk to India’s economic growth performance,” it said. On the inflation front, the rating agency expects inflation to average 5.7% in 2023, a tad below the Reserve Bank of India’s upper target band of 6%. In July, inflation at 7.4%, crossed the Reserve Bank of India’s upper target band for the first time.

Sula Vineyards rose 2% to Rs 499 in Friday's intraday trade on BSE after HDFC Mutual Fund, Societe Generale, Morgan Stanley Asia Singapore, and Ghisallo Master Fund bought a 7.06% stake in the winemaker after foreign investor Verlinvest Asia sold a 12.56% stake. The acquisition was facilitated through open market transactions on August 31. At 11.33 a.m., the stock was trading 1% higher at Rs 494.8 on BSE. On a year-to-date basis, the stock has surged 50%, while it has also risen nearly 40% in the last six months. The firm distributes wines under a bouquet of popular brands such as Sula, its flagship brand, besides other popular brands like RASA, Dindori, The Source, Satori, Madera & Dia. Sula Vineyards is majority-owned by public shareholders with a 72.7% stake, while promoters own the rest of 27.2%. Among the public shareholders, mutual funds have a 9% stake, while prominent foreign investors Goldman Sachs, and ADIA also have holdings in the company. In the recent first quarter, Sula Vineyards' consolidated net profit rose 24% year-on-year (YoY) to Rs 13.68 crore.

New Delhi: The government has increased the price of natural gas to $8.60 per metric million British thermal unit (mmBtu) for September, from $7.85 in August. However, the price of the gas from the nominated gas fields of ONGC and Oil India has been kept unchanged at the price cap of $6.5 per mmBtu. "The price of domestic natural gas for the 1st September 2023 to 30th September 2023 is notified as $8.60/MMBTU on gross calorific value (GCV) basis," said the notification dated 31 August.