stockmarket
Lloyds Bank (LON: LLOY) share price continued its remarkable comeback this week after the latest UK inflation numbers dampened hopes of rate cuts. It is in its third consecutive week of gains and is hovering at its highest level since December 2019. It has surged by more than 184% from its lowest point in 2020. Bank of England rate hikesLloyds and other British banks reacted positively to the latest UK inflation numbers. According to the Office of National Statistics (ONS), the headline Consumer Price Index (CPI) slipped from 3.2% in March to 2.3% in April. Core CPI, which excludes the volatil...
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Ronin, an EVM blockchain specifically designed for gaming, is the brainchild of Sky Mavis, the creators of the popular Web3 title, Axie Infinity. This game alone has generated over $1.3 billion in revenue. Ronin stands out for its proven scalability, having handled over $4 billion in NFT volumes and seamlessly accommodating millions of daily users. RON price surgeThe price of RON, the native token of Ronin, is currently $3.19, marking a 6.74% increase in the last 24 hours and a staggering 213% rise over the past year. Ronin’s track recordRonin was rigorously tested in 2021, where it processed ...
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Demand for copper in a diverse set of industries has been on the rise this year as the global economy continues to thrive. In fact, price of the industrial metal hit an all-time high on Tuesday. Here are the top three stocks that could benefit the most from record copper price. BHP Group Ltd (NYSE: BHP)BHP is fine pick to play continued demand and subsequently elevated price of copper as it operates one mine in Australia and several more in South America. The New York listed firm is worth owning also because it has a 45% stake in Resolution Copper – one of the largest undeveloped copper projec...
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Toll Brothers Inc (NYSE: TOL) is trading up in extended hours on Tuesday after coming in ahead of Street estimates for its fiscal second quarter. Toll Brothers stock up on impressive guidanceThe stock is gaining also because the management issued upbeat guidance for the future. $TOL now expects to deliver up to 2,850 units in Q3 at an average price of between $950,000 and $960,000. The construction company forecasts about $14 of EPS this year versus analysts at $13.77. Douglas C. Yearley Jr. – the chief executive of Toll Brothers said in a press release today: Demand for new homes continues to...
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The price of Floki Inu (FLOKI) surged by 10% in the past 24 hours, reaching $0.0002226 10.9% at 5:05 pm GMT. This surge occurred on the back of a nearly 90% increase in trading volume. The sudden rise in price is attributed to growing speculation that meme coins with utility will dominate the current market cycle, with FLOKI positioned as a leading contender. Utility drives demandThe utility of the FLOKI token lies primarily within the Floki ecosystem. Token holders can engage in various features such as staking, yield farming, and an NFT marketplace. This functionality has drawn interest from...
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On Tuesday, Lam Research Corporation (NASDAQ:LRCX) announced a significant $10 billion share repurchase authorization and a 10-for-1 stock split. This strategic move aligns with the company’s commitment to returning 75% to 100% of free cash flow to shareholders through dividends and buybacks. The stock split, designed to enhance liquidity and broaden investor participation, will see LRCX trading on a split-adjusted basis starting October 3, 2024. Lam Research is a critical player in the semiconductor industry, providing essential wafer fabrication equipment. The company’s recent performance ha...
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Biodexa Pharmaceuticals PLC (NASDAQ: BDRX) opened more than 100% up on Tuesday after reporting encouraging Phase 2 data for eRapa. Details of the Phase 2 data reported todayThe recently licensed drug for FAP (familial adenomatous polyposis) showed non-progression rate of 83% and lowered total polyp burden by about 24% versus the baseline upon six months of treatment. $BDRX reported two grade 3 adverse events while the remaining 97% of the participants remained on eRapa after six months. All in all, the Phase 2 data established eRapa as “safe and well-tolerated” on Tuesday. The news arrives abo...
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Earlier today, Lowe’s Companies Inc. (NYSE:LOW) reported its Q1 2024 earnings, exceeding analysts’ expectations for both revenue and EPS. The company achieved a non-GAAP EPS of $3.67, which was $0.71 above the estimates. Revenue reached $21.4 billion, surpassing projections by $300 million despite a 4.3% year-over-year decline. Comparable sales for the quarter were down 4.1%, highlighting ongoing challenges in the DIY segment. However, gains in the Pro segment and online sales provided some offset. Importantly, Lowe’s reaffirmed its full-year outlook, anticipating total sales between $84 to $8...
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The YieldMax NVDA Option Income Strategy ETF (NVDY) has continued to underperform Nvidia (NASDAQ: NVDA) this year. Its total return – price and dividends – has risen to 63.20% this year while Nvidia has risen by over 91.40%. NVDY ETF has lagged behind Nvidia’s stockThe ETF, which has a distribution rate of 53.50% and over $490 million in assets, will be in the spotlight this week as Nvidia publishes its financial results. As I wrote on Monday, analysts believe that Nvidia’s business did well in the first quarter. The average estimate is that its revenue jumped by over 246% in Q1 to over $22.58...
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Sanofi SA (EPA: SAN) is in focus today after teaming up with OpenAI to deploy artificial intelligence for drug development. What’s in it for Sanofi?Working with the AI company will help Sanofi “go to market faster with our drugs” and address the unmet patient needs, as per Emmanuel Frenehard – executive vice president of the pharmaceutical behemoth. The OpenAI partnership may also $SAN in terms of improving its operating profit. The French multinational is committed to capitalising on artificial intelligence to “shorten the process from discovery all the way to development” of a drug, its exec...
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