?Siemens to Transfer Siemens Energy Stake to Pension Fund
S&P 500 5,267.90 -39.11 (-0.74%)
Dow Jones 39,065.26 -605.78 (-1.53%)
NASDAQ 16,736.03 -65.51 (-0.39%)
Market close: May 23, 2024
Breaking News
Siemens to Transfer Siemens Energy Stake to Pension Fund
Siemens AG plans to transfer its remaining 17.1% stake in Siemens Energy to the group's pension fund, aiming to avoid share dilution. CFO Ralph Thomas stated this move would minimize transaction costs and reduce market volatility. Reuters reports.
(Source: Wikimedia Commons)
The Warm Up
Megabuild: Tesla has begun construction of a factory in Shanghai to make its Megapack energy storage batteries. Yahoo Finance reports.
Electrify: Xiaomi said it will aim to deliver 120,000 electric vehicles this year. The company reported a stronger-than-expected 27% year-over-year increase in first-quarter revenue. Yahoo Finance reports.
Stumble: NetEase reported Q1 2024 revenue growth of 7.2% Y/Y to $3.72B, missing the $3.79B consensus, and the stock slid after results. Benzinga reports.
Resolve: BHP will stand firm on the structure and value of its latest takeover proposal for Anglo American. Reuters reports.
Turbulence: U.S. planemaker Boeing faces a "long road" to address safety issues, the head of the Federal Aviation Administration said as it prepares to receive the company's plan to address concerns. Reuters reports.
Expansion: JPMorgan Chase & Co. is on the hunt to buy a private credit firm to augment its $3.6 trillion asset management arm, as the biggest US bank makes more inroads into Wall Street’s buzziest sector. Yahoo Finance reports.
Friday Fact
Did you know? Pygg was a type of clay used to make the chubby bank accounts.
In Old English pygg was a type of clay that was used to make jars and dishes that held money. The word eventually morphed into “piggy bank.”
Live Sessions Reminder
Every Thursday & Friday we provide free, interactive education on a variety of subjects, including:
New “T+1” Settlement Cycle
What Investors Need To Know.Effective May 28, 2024, the standard settlement cycle will be shortened from T+2 (trade date plus two business days) to T+1 (trade date plus one business day).
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on May 23.
(All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time)
领英推荐
1. $BCG: Binah Capital Group
Total gain: 78.44%
The stock appeared to be moving on no notable news.
2. $ELF: e.l.f Beauty
Total gain: 18.72%
The stock appeared to be moving on no notable news.
3. $NVDU: Direxion Daily NVDA
Total gain: 18.66%
The stock appeared to be moving on no notable news.
Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
BKE Buckle 1Q 2024 Before Market Opens Estimate: 0.740 Actual: 0.690
STG Sunlands Technology
1Q 2024
Before Market Opens Estimate: N/A Actual: 1.140
BAH Booz Allen Hamilton
4Q 2024
Before Market Opens Estimate: 1.230 Actual: 1.330
Today’s Key Economic Dates
Time (ET) / Report / Period
8:00 am Durable-goods orders - April
9:35 am Fed Gov Christopher Waller speaks
10:00 am Consumer sentiment (final) - May
Extra-Time
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Parting Thoughts
"The stock market is filled with individuals who know the price of everything, but the value of nothing." ― Philip Fisher
Sourced in: Common Stocks and Uncommon Profits by Philip A. Fisher, published in 1958. (Reference to "A cynic is a man who knows the price of everything and the value of nothing." by Oscar Wilden, Lady Windermere's Fan)