In the face of a potential Federal Reserve rate cut in September, a strategist from Goldman Sachs has cast doubt on the likelihood of a resulting stock market surge.
The company joins a growing list of crypto firms tapping public markets recently, encouraged by the market momentum and supportive policies under the Trump administration.
Shares of digital storytelling platform WEBTOON (NASDAQ:WBTN) jumped 5.6% in the morning session after the stock continued to rally following the previous week's blockbuster announcements of a partnership with Disney and a strong second-quarter earnings beat. The positive momentum is a continuation of last week’s major developments when the stock soared after the company announced a multi-year partnership with Disney. This deal will bring iconic comics from brands like Marvel, Star Wars, and 20th Century Studios to WEBTOON's vertical-scroll format. In addition to the landmark partnership, the company reported strong second-quarter results that surpassed analyst expectations, posting an adjusted profit of $0.07 per share on revenue of $348.3 million. Following the news, analysts reacted positively, with firms like Evercore ISI and Goldman Sachs raising their price targets on the stock.
Shares of government engineering solutions provider Amentum Holdings (NYSE:AMTM) jumped 3% in the morning session after its subsidiary, Jacobs Technology Inc., was awarded a contract by the United States Space Force with a ceiling value of $4 billion. The 10-year contract, awarded to its wholly-owned subsidiary Jacobs Technology Inc., will support the U.S. Space Force's mission to modernize its Launch and Test Range System. Under the agreement, Amentum is expected to provide a comprehensive range of services, including systems engineering, cybersecurity, integration, logistics, and program management. This significant award reinforces the company's role in supporting the nation's space objectives, aiming to enable efficient, high-capacity spaceports and deliver engineering solutions to protect national security.
Founded in 2014, Klook lets users book tours, activities, attractions, and local services worldwide and competes with platforms such as TripAdvisor and Airbnb.
Gemini, the crypto exchange founded by the Winklevoss twins, has filed to list on Nasdaq despite a $282 million loss, aiming to join Coinbase and Bullish in the growing wave of public crypto firms.
UnitedHealth shares traded nearly 14% higher in Friday’s midday trade after Warren Buffett’s Berkshire Hathaway revealed in its latest 13F filing that it held five million shares of the firm at the end of the second quarter.
Shares of digital storytelling platform WEBTOON (NASDAQ:WBTN) fell 9.8% in the morning session after the stock pulled back from a recent massive rally as technical indicators suggested it was overbought. The stock's sharp decline appears to be a technical pullback after a significant rally earlier in the week. The company's shares had surged over 80% following the announcement of a content partnership with Disney.
Wall Street is currently awash in a wave of optimism, fueled by the strong conviction that the Federal Reserve is poised to initiate interest rate cuts as early as September 2025. This bullish sentiment is further bolstered by a robust corporate earnings season, particularly within the technology sector, which has
