Numis FY 2022 Pretax Profit Fell on Deteriorating Market Conditions

Numis FY 2022 Pretax Profit Fell on Deteriorating Market Conditions

By Michael Susin Numis Corp. said Thursday that pretax profit for fiscal 2022 fell amid deteriorating market conditions, but added that its merger and acquisitions business remains strong. The investment banking group reported pretax profit for the year ended Sept. 30 of 20.8 million pounds ($25.4 million), compared with GBP74.1 million in the prior year. … Read more

Tesla has a demand problem, or so a Tesla bear says

Tesla has a demand problem, or so a Tesla bear says

Tesla Inc.’s recent price cuts on vehicles sold in the US and China point to a possible demand problem, one that could persist into 2023 and cut down on the electric-vehicle maker’s margins. That’s from Bernstein analyst Toni Sacconaghi, one of the few Tesla TSLA, -3.21% bears left on Wall Street. “Tesla increasingly appears to … Read more

Google, Oracle, Amazon, Microsoft to share $9 billion ‘return of JEDI’ defense contract

Google, Oracle, Amazon, Microsoft to share  billion ‘return of JEDI’ defense contract

Alphabet Inc.’s Google, Oracle Corp., Amazon.com Inc., and Microsoft Corp. will share a $9 billion hybrid contract to provide secure cloud services for the Pentagon worldwide, the Department of Defense said Wednesday. In the Pentagon’s daily contract announcements, Alphabet GOOG, -2.22% GOOGLE, -2.10%, Oracle ORCL, -0.16%, Microsoft MSFT, -0.31%, Amazon AMZN, +0.24% were jointly named … Read more

Small-cap stocks are poised to beat the S&P 500 when the market rebounds

Small-cap stocks are poised to beat the S&P 500 when the market rebounds

Small-cap stocks are trading near a two-decade low relative to large-cap stocks. When the stock market rebounds next year, as is expected by many investment-bank strategists, those smaller companies may outperform. Below is a screen of analysts’ favorite small-cap stocks for 2023, culled from the S&P Small Cap 600 Index SML, -0.47%, which requires that … Read more

Exxon Mobil Corp. stock falls Wednesday, underperforms market

Shares of Exxon Mobil Corp. XOM, -0.22% sank 0.22% to $103.65 Wednesday, on what proved to be an all-around rough trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.00% remaining mostly unchanged at 33,597.92 and the S&P 500 Index SPX, -0.19% falling 0.19% to 3,933.92. This was the stock’s fifth … Read more

ResMed Inc. stock rises Wednesday, outperforms market

Shares of ResMed Inc. RMD, +2.04% advanced 2.04% to $222.18 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.00% remaining mostly unchanged at 33,597.92 and the S&P 500 Index SPX, -0.19% falling 0.19% to 3,933.92. The stock’s rise snapped a two-day … Read more

Apple Inc. stock falls Wednesday, underperforms market

Shares of Apple Inc. AAPL, -1.38% slipped 1.38% to $140.94 Wednesday, on what proved to be an all-around poor trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.00% remaining mostly unchanged at 33,597.92 and the NASDAQ Composite Index COMP, -0.51% falling 0.51% to 10,958.55. This was the stock’s fourth consecutive … Read more

Tesla Inc. stock falls Wednesday, underperforms market

Shares of Tesla Inc. TSLA, -3.21% slipped 3.21% to $174.04 Wednesday, on what proved to be an all-around grim trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.00% remaining mostly unchanged at 33,597.92 and the NASDAQ Composite Index COMP, -0.51% falling 0.51% to 10,958.55. This was the stock’s third consecutive … Read more

Carvana creditors ink cooperation agreement ahead of expected cash crunch for used car seller: Bloomberg

Carvana Co. CVNA, -42.85% creditors led by Apollo Global Management Inc. APO, -1.22% and Pacific Investment Management Co. inked an agreement to team up in credit talks with the company in a move to avoid the conflicts that have arisen in other debt restructurings, Bloomberg reported Wednesday. Firms holding 70% or about $4 billion of … Read more

BNP Paribas studied 100 years of market crashes — here’s what it says is coming next

Oops. Stocks fell through a key support on Tuesday and it looks like some recent momentum has now petered out. The new line in the sand for the S&P 500 SPX, -1.44% seems to be 3,900. Whether Santa eventually comes or not is still to be determined, with Mr. Claus is perhaps postponing a decision … Read more