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    • Breaking News
    Dec 19, 2024
    • Existing home sales advanced 6.1% from the previous year to an annual rate of 4.15 million, according to the latest data released by the National Association of Realtors. 

      Home sales rose at the fastest pace since June 2021, and more buyers returned to the market as the economy continued to create new jobs. 

      Single-family home sales advanced 5% from the previous month to a seasonally adjusted annual rate of 3.76 million in November, and advanced 7.4% from the previous year. 

      The median existing single-family home price was $410,900 in November, an increase of 4.8% from a year ago.

      Home prices advanced in all four regions, and the median price for all housing types rose to $406,100, an increase of 4.7% from $387,800 a year ago. 

      The share of first-time home buyers increased to 30% in November from 27%, and cash sales accounted for 25% compared to 27% in the previous month, respectively. 

      Individual investors or second-home buyers, who make up many cash sales, purchased 13% of homes in November, down from 17% in October and 18% in November 2023.
      • Dec 18, 2024
      • Housing starts in November unexpectedly declined and dropped to the lowest level in four months, according to the U.S. Census Bureau. 

        Privately owned housing starts were at a seasonally adjusted annual rate of 1.289 million, 1.8% below the revised level of 1.312 million, and 14.6% below the rate of 1.51 million in the month a year ago. 

        Building permits, authorized housing but not started yet, were at a seasonally adjusted rate of 1.505 million in November, an increase of 6.1% from the previous month but 0.2% below the rate in the month a year ago. 

        However, housing completions were at a seasonally adjusted rate of 1.6 million in November, a decline of 1.9% from the previous month and an increase of 9.2% from a year ago. 

         
        • The Federal Reserve cut its overnight lending rate range by 25 basis points to between 4.25% and 4.50% and also signaled a possible rate cut of 50 basis points in 2025. 

          The possible rate-cut outlook was revised to 50 basis points from the previous estimate of 100 basis points, denting market enthusiasm and halting the roaring bull market. 

          The Federal Reserve raised its economic growth and inflation estimate but lowered its unemployment rate outlook, prompting many investors on Wall Street to forecast the Fed to pause rates at the end of its next meeting in January. 

          The Fed revised its GDP growth estimate in 2024 to 2.5% from the previous estimate of 2.0% in September, the unemployment rate to 4.2% from 4.4%, and PCE price inflation to 2.4% from 2.3%, respectively. 
          • Dec 17, 2024
          • Broadcom Inc. declined 0.6% to $248.87 and eased from a jump of more than 30% in the previous week's trading after the company announced a sharp rise in sales in its artificial intelligence-linked chips and products. 
            • Dec 16, 2024
            • Vivendi SE jumped 36% to €2.51 after the French media company completed the spinoff of Canal+, Havas, and Louis Hachette Group. 

              Canal+ traded above £2.90 per share in London, Havas NV traded around €1.80 in Amsterdam, and Louis Hachette Group edged lower from its opening price of €1.20 in Paris. 

              Settlement delivery of the Canal+, Havas NV, and Louis Hachette Group shares to the shareholders of Vivendi entitled to receive them will take place on December 18, 2024. 

              The trading in three stocks is likely to be volatile over the next several weeks as investors take time to understand the business environment and growth drivers over the next years. 
              • Dec 13, 2024
              • RH jumped 13.5% to $432.99 after the home furnishing company lifted its fourth quarter and full-year outlook. 

                The retailer estimated revenue in the fourth quarter to rise between 18% and 20% and in the full year to advance between 6.8% and 7.2%. 

                Revenue in the third quarter ending on November 2 increased to $811.7 million from $751.2 million, net income swung to a profit of $33.2 million from a loss of $2.2 million, and diluted earnings per share were $1.66 compared to a loss of 12 cents a year earlier. 
                • Broadcom Inc. soared 17.5% to $212.36 after the advanced semiconductor chipmaker reported better-than-expected fiscal fourth quarter earnings. 

                  Total revenue in the fourth quarter soared 51% to $14.1 billion from $9.3 billion, net income advanced to $4.3 billion from $3.5 billion, and diluted earnings per share rose 90 cents from 83 cents a year earlier. 

                  "Broadcom's fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware," said Hock Tan, President and CEO. 

                  "Semiconductor revenue was a record $30.1 billion, driven by AI revenue of $12.2 billion. AI revenue, which grew 220 percent year-on-year, was driven by our leading AI XPUs and Ethernet networking portfolio," added Tan. 

                  The company guided fiscal first quarter revenue of $14.6 billion and estimated adjusted operating earnings of 66% of projected revenue, indicating rising operating margin because of the sale of higher-value chips. 

                  The company declared a quarterly cash dividend of 59 cents per share payable on December 31 to shareholders on record on December 23. 

                  In the previous quarter, the chipmaker reported lukewarm revenue when adjusted for the purchase of VMware. 

                  Consolidated revenue in the third quarter, including the latest acquisition of VMware, soared 47% to $13.1 billion from $8.9 billion, and excluding VMware, it rose 4% from a year ago, respectively. 

                  Net income swung to a loss of $1.9 billion from a profit of $3.3 billion, and diluted earnings per share were a loss of 40 cents compared to a profit of 77 cents a year earlier. 
                  • Dec 12, 2024
                  • Chewy Inc. decreased 3.3% to $31.44 after the company announced a fully underwritten stock offering of $500 million by a key shareholder. 

                    Buddy Chester Sub LLC will receive all proceeds from the offering, and concurrently Chewy said it plans to acquire $50 million of its share directly from the investor. 
                    • Adobe Inc. dropped 10.6% to $491.50 after the software company issued a weaker-than-expected revenue outlook for the fiscal first quarter. 

                      Total revenue in the fiscal fourth quarter ending in November increased to $5.6 million from $5.0 million, net income rose to $1.68 million from $1.48 million, and diluted earnings per share advanced to $3.79 from $3.23 a year earlier. 

                      The company estimated fiscal first quarter revenue to range between $5.63 billion and $5.68 billion and earnings per share between $3.85 and $3.89. 
                      • Dec 11, 2024
                      • General Motors advanced 0.7% to $53.55 after the company canceled its plan to stop funding self-driving technology by car company Cruise.