22 minutes ago
DoubleLine’s Gundlach predicts Fed dot plot shows two rate cuts in 2024
DoubleLine Capital Chief Executive Jeffrey Gundlach believes the Fed’s so-called dot plot projects just two rate cuts this year, he said during an investor webcast after the close on Tuesday.
This is lower than previous expectations, which predicted three rate cuts in 2024.
The dot plot shows where the 19 FOMC members, both voting and non-voting, expect interest rates to go through the end of the year and into 2026 and beyond.
Prominent bond investors have previously said they don’t expect more than one rate cut this year as the Fed continues to fight inflation.
Yun Lee
40 minutes ago
Oracle, Rentokil see biggest price moves in after-hours trading
Let’s take a look at some companies that are garnering attention in after-hours trading.
- Oracle — The technology company’s shares rose about 9% after it announced cloud deals with Google and OpenAI, despite reporting weaker-than-expected fourth-quarter earnings. Oracle posted adjusted earnings per share of $1.63 on revenue of $14.29 billion, while analysts were expecting earnings per share of $1.65 on revenue of $14.55 billion.
- Rubrik — Shares of the cloud data management company rose 1.4% after first-quarter revenue beat expectations. Rubrik reported revenue of $187 million for the period, while analysts surveyed by LSEG were expecting $172 million.
- RENTOKIL INITIAL — Shares in Terminix parent company Rentokil rose about 7.5% after Nelson Peltz’s Trian Partners confirmed it had taken a significant stake in pest control giant Rentokil and is now a top 10 shareholder in the company.
Please check this out for details.
Pia Singh
58 minutes ago
Stock futures opened little changed Tuesday night
Stock futures were down slightly just after 6pm ET, with S&P 500 futures and Nasdaq 100 futures down 0.05% and 0.09%, respectively, while Dow futures were just below flat.
Pia Singh
