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Sources indicate that Syngenta Group plans to launch its initial public offering (IPO) in Hong Kong in the fourth quarter. The group plans to file an IPO prospectus for up to US$10 billion in the second quarter.February 26th - CK Hutchison Holdings Limited (00001.HK) announced that following its voluntary announcement on February 4th, 2026, the Panamanian Government Gazette published on February 23rd, 2026, a ruling by the Supreme Court of Panama regarding Law No. 5 of January 16th, 1997, originally scheduled for publication on January 29th, 2026, and an administrative decree requiring the Panamanian government to seize all movable property of the Companys subsidiary, Panama Ports Corporation. Representatives of the Panamanian government forcibly entered the terminals operated by PPC in the Ports of Balboa and Cristóbal and forcibly took over administrative and operational control of the terminals. As the Company understands, the concession was deemed terminated on February 23rd, 2026, and PPC ceased all operations at the terminals in both ports on the same day. PPC has received feedback that the ruling, the administrative decree, and the corresponding actions taken by the Panamanian government regarding PPCs terminal operations in the two ports are inconsistent with the relevant legal framework and the law that approved the concession agreement. The Board strongly opposes the ruling, the administrative decree, and the corresponding actions taken by Panama. The Group, together with its legal counsel, reserves all its rights and intends to take all appropriate and feasible legal measures to protect its interests, including pursuing further domestic and international legal proceedings in this matter.Google (GOOG.O): We are expanding beta access to the AI Max platform text guidelines globally, making it available to all advertisers.February 26th - Broadcom (AVGO.O) Vice President of Product Marketing, Harish Baladwaj, stated on Wednesday that the company expects to sell at least one million chips by 2027, based on its stacked design technology. This forecast marks the launch of a new product and the setting of new sales targets, potentially generating billions of dollars in revenue. These chips are manufactured using a technology developed by Broadcom that stacks two chips together, allowing different silicon dies to be tightly connected, thereby increasing the speed at which data is transferred from one chip to another. Baladwaj stated that the companys stacking technology enables customers to create more powerful, lower-power chips to meet the rapidly growing computing demands of artificial intelligence software. "Now, almost all of our customers are adopting this technology," he said.Apple (AAPL.O) CEO Tim Cook said the coming week will be busy, starting Monday morning.

Nasdaq Surges 2.7% As Strong Earnings/US Data Boost Growth Stocks; PayPal Gains 9.0%

Cory Russell

Aug 04, 2022 14:58

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Nasdaq 100, S&P 500 Break Higher Despite Strong Earnings, Strong US Data, and Fed Remarks

The US ISM Services PMI data for July and Factory Orders statistics for June sparked confidence that the US economy is, for the time being, not in recession, and on a bombardment of positive earnings reports, the S&P 500 and Nasdaq 100 indexes burst out to new multi-week highs on Wednesday.


Stocks also took solace from comments made by Fed policymaker Mary Daly, who downplayed the possibility of a further 75 basis point rate hike from the Fed in September. However, she also pushed back (as have other Fed policymakers in the last two days) against overly pessimistic market expectations for the Fed to start reducing interest rates in early 2023.


The S&P 500 index rose 1.6 percent to break over 4,150 for the first time since early June and leave its 100-Day Moving Average, which is located just around 4,120, in the dust. This was a bullish combination for stocks. Bulls are still aiming for a challenge of the highs from early June at 4,180.


While the Dow climbed 1.3 percent to cross back above its 100DMA just over 32,700, the Nasdaq 100 index rose 2.7 percent to reach its highest level since early May in the 13,200s.

Big Tech and Growth Stocks are the Best

The market gain on Wednesday was driven by "growth" firms, including some of the biggest names like Apple, Microsoft, Alphabet, Amazon, and Meta Platforms. The chief investment officer of Bokeh Capital Management, Kim Forrest, advised investors to switch from value equities to growth ones if the economy were not now in recession but neither blazing upward either.


Gains in growth stocks were aided by a nearly 10% increase in PayPal Holding's share price after the payment technology company raised its annual profit projection and reported that activist investor Elliot Management had amassed a $2 billion holding. The S&P 500 GICS sectors with the highest concentration of growth companies, Information Technology, Communication Services, and Consumer Discretionary, all increased by 2.5 percent to 3.0 percent on Wednesday.


Other significant companies that have reported earnings include Starbucks, which rallied after exceeding bottom-line analyst expectations in Q2 amid strong demand for its coffee in the US, CVS Health, the largest US pharmaceutical chain, and Moderna, which jumped after announcing a $3 billion share repurchase program.

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