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CNBC’s Jim Cramer told investors on Friday to buy the sharp, post-earnings sell-off in Broadcom shares. “This company is on fire,” Cramer said on ” Squawk on the Street ,” pointing to the custom chipmaker’s long list of notable clients, including Alphabet , Meta Platforms , ByteDance-owned TikTok, and Anthropic. The stock sank nearly 11% following a strong Thursday evening quarterly beat and guidance raise that got overshadowed by some misinterpreted remarks by management on the earnings call. It didn’t help that Broadcom shares ran up this week ahead of the print, which heightened already high expectations. Some profit-taking may…
The Asian Development Bank (ADB) approved on Friday two projects totaling $540 million to accelerate state-owned enterprise (SOE) reforms in Pakistan and enhance disaster resilience in the coastal districts of Sindh. The financing comprises a $400 million results-based loan for the Accelerating SOE Transformation Programme for Pakistan and a $140 million concessional loan for the Sindh Coastal Resilience Sector Project. “The SOE reform programme marks a significant milestone in Pakistan’s efforts to tackle critical challenges in corporate governance and commercial performance within its SOEs,” the ADB said in a statement. “The SOE reform programme for Pakistan seeks to improve governance…
Pak-Qatar Family Takaful Limited (PQFTL) got the final strike price of Rs18.02 per share at the completion of its two-day Dutch bidding to sell 50 million shares, mobiliding investment of Rs901 million at the Pakistan Stock Exchange (PSX) for expansion of its business. The share price surged almost 29% in the two-day book building process from the minimum (floor) price of Rs14 per share. The price had the room to increase by a maximum of 50% to Rs21 per share from the floor price during the process. Talking to Business Recorder, Shahid Ali Habib, CEO, Arif Habib Limited (AHL) –…
It’s been a whirlwind for stocks over the past month. Since the Club’s last Monthly Meeting on Nov. 13, Wall Street has navigated concerns around valuations for AI-related stocks and speculation about the Federal Reserve’s next interest rate move. Wednesday was a pivotal day. In the afternoon, the Fed delivered a 25-basis-point cut after its last policy meeting of the year. After the close, Oracle earnings print and commentary added to artificial intelligence worries. Still, as of Thursday’s close, the S & P 500 and Nasdaq advanced 2.4% and 3.1%, respectively, over the last 19 sessions. Our top three portfolio…
Gold prices fell in European trading on Friday for the first time in the past four days, retreating from a seven-week high, amid corrective moves and profit-taking, in addition to pressure from the rebound of the US dollar against a basket of global currencies. Despite the pullback, the precious metal, gold, is set to record a weekly gain, supported by the outcome of the Federal Reserve’s monetary policy meeting, which came less hawkish than markets had expected. Price overview • Gold prices today: Gold prices declined by around 0.4% to $4,264.77, from an opening level of $4,280.46,…
The global race to deploy data centres in space to power artificial intelligence (AI) development has begun, with China seizing an early lead.“In terms of the highest performance of space-based computing or the completeness of [the] technological framework, we are at the forefront,” Beijing-based computer scientist Han Yinhe said.Han is a researcher at the Institute of Computing Technology (ICT) of the Chinese Academy of Sciences in Beijing, and is taking part in a major initiative to develop a real “space supercomputer” in low-Earth orbit that will integrate 10,000 high-performance computing cards.But the United States is now rushing to catch up…
My top 10 things to watch Friday, Dec. 12 1. Investors continued to rotate out of tech and into value as the Dow looks to add to yesterday’s record while the Nasdaq tracks for a lower open. S & P futures were relatively unchanged after the broad-market index also hit a record close yesterday. The Club holds its December Monthly Meeting livestream, exclusively for members, at 12 p.m. ET. 2. Lululemon Athletica reported just OK quarterly earnings yesterday. The company grew revenue dramatically, but execution failed this year amid a host of challenges including tariffs. Plus, CEO Calvin McDonald announced…
When it comes to building next-generation stealth jets, experience is the foundation of speed, reliability and combat readiness. Handing this critical job to a company with no stealth fighter experience could significantly delay progress and hand competitors a strategic gift.This is an open message from Yang Shuifeng, a lead designer of China’s cutting-edge stealth fighters.“The experience and capability of the research and development team cannot start from zero,” Yang, senior engineer and director of the performance research division at the Chengdu Aircraft Design Institute’s overall design department, wrote in a paper published in the peer-reviewed Journal of Systems Engineering and…
Gold prices fell in European trading on Friday for the first time in the past four days, retreating from a seven-week high, amid corrective moves and profit-taking, in addition to pressure from the rebound of the US dollar against a basket of global currencies. Despite the pullback, the precious metal, gold, is set to record a weekly gain, supported by the outcome of the Federal Reserve’s monetary policy meeting, which came less hawkish than markets had expected. Price overview • Gold prices today: Gold prices declined by around 0.4% to $4,264.77, from an opening level of $4,280.46,…
In a significant step towards leveraging emerging financial technologies to strengthen Pakistan’s capital markets and enhance global investor access, the Ministry of Finance on Friday signed a Memorandum of Understanding (MoU) with Binance Investments, one of the world’s leading blockchain and digital asset technology companies. The development comes days after the Pakistani government signalled strong commitment to Digital Asset Regulation in a meeting held with a delegation of cryptocurrency exchange Binance during a meeting with senior leadership of Binance, including Global CEO Richard Teng, in Islamabad. The meeting was attended by Prime Minister Shehbaz Sharif, Chief of Army Staff (COAS)…