The after-hour market sentiment was boosted by solid quarterly results from energy technology company Enphase Energy , which led to a 6% rise in share prices. Moreover, restaurant chain operator Chipotle also Forex news rose around 8% in the extended trading session. Stocks popped after the Federal Reserve raised interest rates by three-quarters of a percentage point, powering the Nasdaq to its best gain since April 6, 2020.
- Jerome Powell stated that rate increases will likely slow down, meaning that the Federal Reserve might not be as aggressive as most had believed.
- Schumer had said Democrats would be pushing ahead on a pared-down economic package, after Manchin had forced his party to narrow its approach.
- Looking ahead, Honeywell expects adjusted 2022 earnings of $8.55 a share to $8.80 a share against the Wall Street analysts target of $8.69 a share.
- Analysts currently expect 2022 revenue of $35.88 billion.
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Positive cues from global markets following the Fed policy outcome, as well as domestic large caps’ upbeat earnings, drove the market rally. The Fed’s decision was as expected, while their positive comment dismissing the possibility of a recession and hinting at a slower pace of rate hikes in the coming months boosted global sentiments. As a result, the Indian rupee strengthened, https://www.modellismo.net/forum/lego/131139-parere-su-progetto.html potentially attracting foreign funds into the domestic market. Domestic investors are now bracing for the RBI’s MPC meet next week expecting a rate hike by basis points. New Britain, Conn.-based Stanley Black & Decker post net income of $87.6 million, or 57 cents a share, for the quarter, down from $459.5 million, or $2.75 a share, in the year-earlier quarter.
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ICICI Securities is bullish on IIFL Wealth Management has recommended buy rating on the stock with a target price of Rs 2217 in its research report dated July 26, 2022. Pizza maker Jubilant Foodwork’s Q1 results were tasty and CJ expects the market to gorge on the stock after a weak performance in 2022 so far. Watch Santo & CJ clash their frying pans over the Domino’s India Forex news franchise owner. Plus the duo share their thoughts on Bajaj Auto, VIP Industries and Shree Cement. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.
Stocks Fall And Begin Week With Losses As Rebound Attempt Stalls
A non-bank lender backed by Gautam Adani, Asia’s richest person, is planning to raise at least 15 billion rupees ($188 million) in an initial public offering in Mumbai that could take place as early as 2024. Adani Capital’s first-time share sale will offer about a 10% stake in the shadow bank and target a valuation of https://www.netwargamingitalia.net/forum/members/paapnian.13944/ around $2 billion, Managing Director and Chief Executive Officer Gaurav Gupta said. The U.S. Federal Reserve’s 0.75 percentage point hike in interest rates, and Fed Chair Jerome Powell’s comments dismissing chances of a recession gave markets some relief. Enphase’s revenue rose 20% sequentially to $530.2 million.
There was no shortage of corporate updates for investors to sift through, but last night’s results from Big Tech titans Alphabet (GOOGL, +7.6%) and Microsoft (MSFT, +6.7%) drew the most attention. Despite posting lower-than-expected quarterly results, Alphabet and Microsoft stocks soared. Enphase expects its revenue to grow an additional 15%, to $590 million-$630 million, in the third quarter. Get Started Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content.
