Apple, the tech giant known for its innovative products, has experienced a decline in its market capitalization, falling below the coveted $3 trillion mark. This setback was triggered by a broader market selloff, driven by unexpectedly strong U.S. jobs growth. Last Friday, Apple marked a historic milestone as its market cap closed above $3 trillion, making it the first public … [Read more...] about Apple’s Market Cap Falls Below $3 Trillion Amid Market Downturn
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Bond Market Facing Challenges Due to Inflation Concerns
Bond prices have experienced a decline recently due to mounting fears of inflation. However, stock prices have managed to stay strong amidst these concerns. Longer Period of High Interest Rates Expected There are indications that the Federal Reserve might need to maintain high interest rates for a longer duration than initially anticipated in order to control inflation. As a … [Read more...] about Bond Market Facing Challenges Due to Inflation Concerns
Amazon Prime Day Sets New Sales Record
Amazon.com stock is on the rise after the e-commerce giant declared that this year's Prime Day was its "single largest sales day" to date. Spanning two days, July 11th and 12th, Prime members across the globe purchased over 375 million items, resulting in savings exceeding $2.5 billion. This surpasses last year's Prime Day, which saw sales of more than 300 million … [Read more...] about Amazon Prime Day Sets New Sales Record
AT&T Stock Downgraded on Concerns Over Wireless Growth and Potential Liability
J.P. Morgan analyst Philip Cusick has downgraded AT&T (ticker: T) from Overweight to Neutral, citing concerns about the company's wireless growth and potential liability for lead-sheathed cables. Cusick also lowered his price target for the stock from $22 to $17. AT&T's stock experienced a 4.1% drop to $14.49 in midday trading, bringing it to its lowest point since May … [Read more...] about AT&T Stock Downgraded on Concerns Over Wireless Growth and Potential Liability
Theseus Pharmaceuticals Terminates Development of THE-630
Shares of Theseus Pharmaceuticals took a significant hit on Friday following the company's announcement that it would be discontinuing the development of THE-630 for patients with gastrointestinal stromal tumors. The decision to terminate development came after the company discovered two dose-limiting toxicities associated with hand-foot skin reaction. As a result, Theseus … [Read more...] about Theseus Pharmaceuticals Terminates Development of THE-630
