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Tech investor Jason Palmer vows to deliver ‘conscious capitalism' in his presidential bid
Market Watch· 2024-03-06 08:03
Tech investor Jason Palmer wasn’t planning to launch a bid for the White House until he decided he had no choice. “I kept waiting for someone with a business background to join the race. When they didn’t, I decided to run based on my strong business background,” said Palmer, a former deputy director at the Bill & Melinda Gates Foundation... Master your money. Subscribe to MarketWatch. Get this article and all of MarketWatch. Access from any device. Anywhere. Anytime. Subscribe Now Already a su ...
Wall Street's biggest banks are beating investment-banking revenue estimates
Market Watch· 2024-02-29 15:10
Group 1: Investment Banking Revenue Growth - A surge in equity capital markets and debt market activity is boosting investment banking revenue growth at the big five Wall Street banks, surpassing analyst estimates for the first quarter [1] - Bank of America leads with over 25% increase in investment banking revenue compared to the previous year, followed by JPMorgan Chase (15%), Citigroup (10%), Morgan Stanley (7%), and Goldman Sachs (3%) [1] - Collectively, the five banks are on track to deliver 13% revenue growth over the year-ago period, exceeding the 10% consensus analyst estimate [2] Group 2: Market Performance and Trends - Equity capital markets revenue is up 39% as companies issue stock, despite a slow rebound in the IPO market [2] - Debt capital markets revenue has increased by 42% year-over-year and jumped 81% from the previous quarter, with Citigroup leading at a 113% increase over the last quarter [2] - Trading revenue remains mixed, with strength in fixed income potentially offset by muted volatility across other products [2] Group 3: Stock Performance - Year-to-date stock performance shows Bank of America up 1.2%, Citigroup up 7%, JPMorgan Chase up 8.4%, Morgan Stanley down 7.7%, and Goldman Sachs up 1.9% [3] - The Dow Jones Industrial Average is up 3.3% and the S&P 500 is up 6.3% so far in 2024 [3]
SunPower's stock charges up after additional financing, waivers secured
Market Watch· 2024-02-15 14:11
Core Viewpoint - SunPower Corp. shares experienced an increase following the announcement of new funding and waivers from financial partners, which the company believes will help it manage current industry challenges [1]. Financial Performance - The company reported a fourth-quarter loss that was wider than expected, alongside revenue that did not meet forecasts [1].
Harley-Davidson's stock rises after profit beats expectations by a wide margin, while motorcycle shipments fell again
Market Watch· 2024-02-08 12:08
Core Insights - Harley-Davidson Inc. reported a significant earnings beat for the fourth quarter, with net income of $25.8 million, or 18 cents per share, surpassing the FactSet consensus of 4 cents per share [1] - Despite the profit beat, motorcycle shipments continued to decline, falling 13% for the third consecutive quarter due to cautious dealer inventory management and market conditions [1] - Revenue decreased by 7.8% to $1.05 billion, although it exceeded the FactSet consensus of $998.2 million [1] Financial Performance - Net income decreased from $41.9 million, or 28 cents per share, in the previous year to $25.8 million, or 18 cents per share [1] - Revenue fell by 7.8% year-over-year to $1.05 billion [1] - Motorcycle sales dropped 12.5% to $583 million, while parts and accessories sales decreased by 13.9% to $130 million [1] Motorcycle Shipments and Sales - Motorcycle shipments fell by 13%, marking the third straight quarter of declines [1] - The company sold 514 LiveWire electric motorcycles in the fourth quarter, a significant increase from 69 units sold in the same period last year [1] - Harley-Davidson anticipates shipping between 1,000 to 1,500 electric motorcycles in 2024 [1]