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Rating Agencies Downgrade UK Credit Rating Post Brexit Vote
Ratings firm Moody’s has slashed the rating of U.K’s financial institutions from ‘stable’ to ‘negative’ after the recent British vote to exit the European Union (EU). Some of the institutions downgraded by Moody after the Brexit include banks, life insurers
Read MoreFinish Line tops Q1 estimate, reiterates FY17 EPS outlook
Following the announcement of fiscal 2017 first-quarter results that beat the Wall Street estimates, the share price of sports footwear and apparel retailer Finish Line Inc. (FINL) hit a high of $20.98, from a low of $16.64 in one week
Read MoreKiwi dollar remains bullish on impressive Q1 GDP growth
One of the hallmarks of the Brexit referendum in the Forex market was the rise of the New Zealand dollar against the major currencies. Following the outcome of the Brexit referendum, the Kiwi rose sharply against the Swiss Franc. At
Read MoreGlobal Markets Uncertain As UK Decides To Leave European Union
The United Kingdom (UK) has voted to exit from the European Union, throwing global markets in shock and deep turmoil. UK Prime Minister David Cameron, who was a staunch supporter of remaining in the EU has stepped down saying that
Read MorePound to strengthen on increasing support for ‘In’ vote
In the second week of June (June 9th to be precise), we had suggested taking a short position, with a target of 148, in the GBPJPY currency pair at 156.50 levels. The currency pair hit the target and fell even
Read MoreKroger misses Q1 rev. estimates, issues soft FY16 outlook
Last Thursday, grocery chain Kroger Co. (KR) reported an increase in the 2016 first-quarter earnings, compared to the similar period last year. The earnings also beat the Wall Street estimates. However, the stock price has fallen from a high of
Read MoreGreece Receives €7.5 billion In First Tranche Of Bailout Package
The first tranche of the €86 billion bailout approved by Greece’s creditors was formally released last week. The rescue package which is the third such bailout for the country was signed off last year after numerous rounds of discussion. Greece’s
Read MoreEIU Predicts Longstanding Damage To UK Economy From Brexit
A report from the Economist Intelligence Unit (EIU) predicts that the impact of a Brexit will result in an unstable and grim future for the UK’s economy. The report predicts that the UK will slide back into recession as a
Read MoreSwiss Franc Expected to Gain on Brexit Fears
The Hungarian Forint weakened nearly 3% against the Swiss Franc in the past one week. It can be argued that the investors’ nervousness, arisen out of the Brexit issue, is the primary reason for the CHFHUF pair to rise from
Read MoreScience Applications to correct on high valuation concern
The shares of technology solutions provider Science Applications International Corporation (SAIC) hit a 12-month high of $61.93 on Monday, following the announcement of fiscal 2017 first-quarter earnings and revenue that beat analysts’ estimates. However, on Tuesday, selling pressure took the
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