Investing.com - More Japanese yen weakness looks likely, according to Bank of America Securities, citing its latest foreign exchange and rates sentiment survey.
At 10:25 ET (14:25 GMT), USD/JPY traded 0.2% higher at ¥155.83, with the pair having gained just under 2% this week as yen weakness returned.
Japanese authorities are seen having spent almost $60 billion the previous week pulling the yen away from a 34-year-low of ¥160.24 versus the dollar.
The bank’s survey... (continue reading...)
Mizuho analysts highlighted two mega-cap players that have been catching attention: Apple (NASDAQ: AAPL) and Meta Platforms (NASDAQ: META).
According to the firm, the recent performance of both has been eye-catching, with Meta soaring 750 basis points (bps) and Apple not far behind, up by nearly 700 bps over the past five days. This surge outpaces the tech sector, which has gained 400 bps, with Meta's rebound particularly notable following a post-guidance... (continue reading...)
Investing.com -- Main U.S. indexes edged lower Friday after preliminary data showed consumers' inflation expectations rose more than anticipated in May.
Here are some of the biggest U.S. stock movers today:
Novavax (NASDAQ: NVAX) stock soared 125% after the biotech company signed a deal with French drugmaker Sanofi (NASDAQ: SNY), up 0.3%, to develop its Covid vaccine starting next year.
Moderna (NASDAQ: MRNA) stock fell 3% after... (continue reading...)
As HOOD gains more share in the crypto space, analysts at Mizuho see it helping to pressure Coinbase (NASDAQ: COIN) shares, with the firm maintaining an Underperform rating and $145 price target on the stock in a note Friday.
The firm notes that after analyzing 1Q volume data points, Coinbase lost retail market share to Robinhood (NASDAQ: HOOD) in the first quarter.
"Our analysis shows that COIN's share of combined COIN consumer + HOOD retail crypto volumes declined... (continue reading...)
Investing.com -- Analysts at MoffettNathanson have hiked their rating of Roblox (NYSE: RBLX) to "Neutral" from "Sell," citing a steep drop in the price of the video-gaming group's stock on Thursday.
Roblox reported first-quarter financial results that surpassed analyst expectations for earnings and revenue, but a weaker-than-projected bookings outlook for the current quarter sent shares plummeting.
The company announced a first-quarter loss per share of $0.43, which... (continue reading...)
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