Author: News Room

Introduction Kyndryl is the product of a spin-out by IBM (IBM) in November 2021. IBM’s intent was to remove the declining part of their business so that they could focus on their growth drivers. The business that became Kyndryl was roughly 20% of IBM’s revenue, but less than 4% of IBM’s market cap at the time of the spin. Kyndryl’s financial profile featured declining revenue, low margins, and negative free cash flow – a combination not appreciated by IBM management or shareholders. In my article from November 23, 2021, we recommended purchase of the stock based on a risk-reward trade-off…

Editor’s Note: This is an updated version of an article that originally ran on May 1. As was widely expected, the Federal Reserve left its benchmark interest rate unchanged for its seventh meeting in a row on Wednesday. People carrying variable-rate debt like credit cards and those seeking a loan won’t be happy given that the Fed’s rate, which directly and indirectly affects consumers’ borrowing costs, remains at a 23-year high. Those rates will likely stay high for a while. At this point, only one cut is seen as likely before the end of the year, according to US central…

The Federal Reserve on Wednesday projected only one rate cut for the remainder of 2024, down from its March forecast that called for three reductions.The central bank’s “terminal rate” for 2024, or the rate at which its benchmark fed funds rate will peak, went up to 5.1%, equivalent to a target range of 5%-5.25%. That means that the Fed is only forecasting one quarter-point rate cut from the current target range of 5.25% to 5.5%.The so-called “dot plot,” which indicates how 19 FOMC members, both voters and nonvoters, showed four officials in favor of no cuts this year, while seven…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market pop: Wall Street was able to hold onto strong gains Wednesday despite the Federal Reserve signaling just one interest rate cut this year, based on the median dot plot projection. That, of course, could shift if the data changes. The Fed left rates unchanged following its two-day June meeting, as expected. The S & P 500 and Nasdaq hit new all-time highs following a cooler-than-expected flat consumer price index for May.…

Americans may be missing out on an essential college savings tool, according to a recent survey. Half of all adults saving for education don’t know about the benefits of using a 529 savings plan, and less than a quarter of them are using this financial tool to save for college, according to the Edward Jones survey. Additionally, only 25% know that these plans can be used to fund more than just higher education. The biggest obstacle preventing more Americans from using 529 plans is the misconception that they require more savings or income to open. “A 529 education savings plan is…

Learning about services that Medicare covers, and their cost, is an important discussion topic for Medicare beneficiaries. However, there is one subject that rarely comes up: hospice, end-of-life care for the terminally ill. Many studies have shown that earlier end-of-life care can have a positive impact: reduced administration of unnecessary medications, fewer hospital admissions and less depression in survivors. As a homecare nurse, I witnessed the value of hospice care. Yet, in too many cases, it was a last-minute decision and neither the patient nor the family reaped the full benefit. Perhaps a brief Q&A can plant the seed so…

CNN relied on a system of runners to get notes from reporters watching the Hunter Biden trial to the world in real time. Here’s one runner’s description: As a journalism student at the University of Delaware preparing for my final year of college before the real world, I jumped at the chance when one of my journalism professors sent me a text asking if I wanted to work for CNN. There’s a very strict policy on electronics in the J. Caleb Boggs Federal Building that prohibits the usage of laptops and phones inside. This policy may have been a hassle, but I’m…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Mistral AI, the Paris-based artificial intelligence start-up, has raised €600mn in new funding at a valuation of almost €6bn, just a year after the Microsoft- and Nvidia-backed company was launched as an unlikely challenger to OpenAI. The investment, which has tripled the company’s price tag since December, is led by General Catalyst, alongside several of Mistral’s existing investors, including Lightspeed, Andreessen Horowitz, Factorial Funds, Bpifrance and BNP Paribas. Corporate backers include Nvidia, Salesforce, Samsung and IBM. “We were told when we started . . . that…

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Q1 2024 Earnings Conference Call June 11, 2024 10:00 AM ET Company Participants Matt Hodges – VP, IRSteve Lawrence – CEOCarl Ford – CFO Conference Call Participants Seth Basham – Wedbush SecuritiesJustin Cleaver – BairdMichael Lasser – UBSSimeon Gutman – Morgan StanleyChris Horvers – JPMorganKate McShane – Goldman SachsRobbie Ohmes – Bank of AmericaGreg Melich – Evercore ISIAnthony Chukumba – Loop Capital MarketsJohn Kernan – TD CowenJohn Heinbockel – Guggenheim Securities Operator Good morning, ladies and gentlemen, and welcome to the Academy Sports and Outdoors First Quarter Fiscal 2024 Results Conference Call. At this…

A class action lawsuit filed Tuesday alleges that RTX Corporation, the multinational aerospace and defense systems giant formerly known as Raytheon Technologies, has been discriminating against job seekers who are 40 years or older. The complaint, filed by the AARP Foundation and two law firms at the US District Court for the District of Massachusetts, asserts that the language used in certain Raytheon job ads indicates a preference for younger workers in violation of the federal Age Discrimination in Employment Act, the Massachusetts Fair Employment Practices Act and the Virginia Human Rights Act. The company had been headquartered in Massachusetts…