Super Micro Computer Inc (NASDAQ: SMCI) will replace Walgreens Boots Alliance Inc (NASDAQ: WBA) in the Nasdaq 100 on July 22, as per a press release on Monday. The Nasdaq 100 is an index comprising the largest 100 nonfinancial companies in the Nasdaq Composite. Supermicro stock is still down about 2.0% on Monday. Why is Walgreens losing its spot in Nasdaq 100?Nasdaq 100 requires member companies to maintain a minimum weighting of 0.1% of its market value that currently sits at over $20 trillion. Walgreens is losing its spot in the Nasdaq 100 as its stock has crashed more than 50% this year tha...
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Flare Network, a prominent Layer-1 blockchain known for its robust data management capabilities, has announced the deployment of SparkDEX’s V2/V3 decentralized exchange (DEX) and perpetuals platforms on its Ethereum Virtual Machine (EVM) compatible chain. This move marks a significant milestone in decentralized finance (DeFi), integrating sophisticated trading tools with advanced data aggregation on Flare’s platform. A new frontier for DeFi tradersThe SparkDEX DeFi Hub aims to revolutionize the trading landscape by offering a seamless, integrated platform for both novice and experienced trader...
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Netflix Inc (NASDAQ: NFLX) has already surged about 40% this year, and analysts are bullish on its continued growth. Morgan Stanley’s Benjamin Swinburne has reiterated his “overweight” rating on Netflix, projecting further gains as the company prepares to release its Q2 financial results on July 18th. Swinburne raised his price target on Netflix stock to $780, indicating a potential 20% upside. He attributes this optimism to Netflix’s robust performance and expects “continued strong results heading into the second half of 2024.” Despite its impressive performance, Netflix remains unattractive ...
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The Ibovespa index saw a decline below 128,800 on Monday, halting its ten-day upward streak amid global geopolitical uncertainties triggered by a recent assassination attempt on US presidential candidate Donald Trump. This shift in market sentiment coincided with revelations from the latest Focus Bulletin, which highlighted evolving expectations regarding Brazil’s central bank monetary policies for 2024. The report indicated a notable decrease in inflation projections after nine consecutive weeks of increases, alongside modest gains in GDP figures, prompting a more cautious outlook among inves...
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OneStream, a company specializing in streamlining financial processes and providing actionable insights through its platform, is set to go public. Offering 24.5 million shares at a price range of $17 to $19 per share, the IPO aims to raise $465.5 million, valuing OneStream at approximately $4.38 billion. OneStream intends to buy freshly issued units of OneStream Software LLC, a company solely managed by OneStream. The remaining amount will be used to buy Class C common stock from some of the existing shareholders. What does the company do?Established in 2010, OneStream supports CFOs in prepari...
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Scinai Immunotherapeutics Ltd (NASDAQ: SCNI) unveiled promising preclinical outcomes for its innovative anti IL-17A/F antibody fragment (NanoAb) aimed at treating mild to moderate plaque psoriasis. The biotechnology firm’s shares experienced a significant surge of 55% this morning after the announcement, but despite this increase, they are still down approximately 35% from their highest point over the past 52 weeks. Why is it significant for Scinai stock?Dr. Tamar Ben-Yedidia, Chief Scientist at SCNI, highlighted the milestone achievement, confirming that the NanoAb effectively neutralizes bot...
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Bitcoin (BTC) miners have held onto their stash. The trend ensues as Bitcoin has managed to regain ground above $63,000. According to Salman Khan, Marathon Digital Holding’s CFO, the mining giant hasn’t sold any of its 18,536 Bitcoins, which are worth over $1 billion, as of this writing. Selling pressure from Miners dropKhan highlighted that Bitcoin has been “outperforming other asset classes” with a return rate of over 150%. He noted that Marathon expects the price of the flagship cryptocurrency to go up from its current level. He added that several “market dynamics” need to be considered whe...
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American Steel manufacturer Cleveland Cliffs on Monday announced its decision to acquire Canadian steelmaker Stelco Holdings for an enterprise value of approximately $2.5 billion, the company said, in a move that will expand the company’s steelmaking footprint. The acquisition follows its failed bid to acquire US Steel last year for $7.3 billion. US Steel had called the bid “unreasonable” and decided to merge itself with Japanese steel major Nippon Steel. Stelco shares surged by 74% at 64.84 CAD at 11:30 am in Toronto. “The acquisition confirms Cliffs’ commitment and leadership in integrated s...
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The popular SPDR S&P 500 ETF (SPY) soared to a record high on Monday as investors piled into stocks amid the ongoing stock bull run. The fund jumped to a high of $565, meaning that it has jumped by more than 175% from its lowest point in 2020. SPY to be passed by IVV and VOOThe SPY ETF is at an elevated risk of being passed by the Vanguard S&P 500 (VOO) and the iShares S&P 500 ETF (IVV) in terms of assets. Data by Morningstar shows that the SPY fund has over $558 billion in assets while the IVV has over $506 billion. VOO has $489 billion in assets. Eric Balchunas, who covers ETFs for Bloomberg...
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Costa Rica boasts the highest minimum wage in Latin America at approximately $680 per month as of July 2024, according to a Statista infographic study. In stark contrast, Venezuela has the lowest minimum wage in the region, a meager $3.60 per month. This disparity highlights significant economic challenges and opportunities within the region. Contrasting minimum wage levels across Latin AmericaCosta Rica’s leading position in minimum wage standards underscores its commitment to ensuring a higher salary level for its workforce. Following closely, Uruguay and Chile also offer relatively high min...
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