(Bloomberg) — VinFast Auto Ltd. has soared in its public start, outperforming its market value beyond General Motors Corp. and Ford Motor Co., as traders flipped shares of the electric automaker. Most Read from Bloomberg The Vietnamese company, which went public in a SPAC deal, is valued at nearly $85 billion after shares surged Tuesday, … Read more
David Tepper’s Appaloosa management made a slew of major tech stock purchases in the second quarter, swelling the hedge fund’s holdings to $5.4 billion from $1.9 billion, according to a recent 13F filing. main sockets Appaloosa Management tripled its equity stake to $5.4 billion in the second quarter. David Tepper’s hedge fund has made large-scale … Read more
Wall Street got its first taste of Cava’s (CAVA) future earnings potential. In its first quarterly report since its initial public offering, the Mediterranean fast-food chain turned profitable, with revenue jumping 62.4% year-over-year and same-store sales, up 18.2%, in its second-quarter earnings results. CAVA stock jumped more than 9% after the market closed on Tuesday. … Read more
font size Johnson & Johnson took consumer health company Kenvue public in May. Mark Ralston / Getty Images Johnson and Johnson ‘s $40 billion stock exchange offer Kinfu It is likely to generate strong interest from the healthcare company’s shareholders, resulting in participants being able to swap only a portion of their J&J stock. Johnson … Read more
A senior couple talks about 401(k) withdrawals and a retirement financial plan. Congress could soon change how couples access their retirement accounts. A pair of Democratic bills recently introduced in the House and Senate require the consent of both spouses before either can make any withdrawal from 401(k) accounts. The bills, sponsored by Rep. Lauren … Read more
US stocks were part of a global sell-off on Tuesday as a week full of retail began to show continued consumer resilience in the United States, but China painted a bleak picture for the world’s second-largest economy. The Dow Jones Industrial Average (^DJI) fell 1% as banking stocks fell amid the prospect of stricter supervision. … Read more
A couple looks at their retirement plan while sitting in their kitchen. One of the most important retirement decisions is choosing how much you want to withdraw from your savings. You need to take just enough to meet your spending needs, but not so much that you end up running out of money. While there … Read more
(Reuters) – Nvidia shares rose more than 3% in hefty volume on Tuesday after two brokerages raised their price targets for the chipmaker, adding to already high expectations ahead of its quarterly earnings report next week. The world’s most valuable semiconductor company has been at the center of a rebound in technology stocks this year, … Read more
font size 2023 VinFast VF9. Courtesy of VinFast Investors still relish the appetite for electric vehicle startups backed by SPACs. Just look at the amazing debut of VinFast. The Vietnamese electric car maker began life on Tuesday as a Nasdaq-listed company thereafter Close Its merger with SPAC Acquisition of black spade (Stock ticker: BSAQ). With … Read more
Internet service company in Southeast Asia Sea Ltd. (SE) on Tuesday after reporting second-quarter revenue that missed analyst estimates. SE stock was down more than 29% at midday. The Singapore-based company reported earnings of 54 cents per share for the quarter ended in June on revenue of $3.1 billion. However, analysts polled by FactSet expected … Read more