Select a category

Influencer Brian has revealed what she’ll do if she works as a maid in your house and you pay her N30,000 per month as salary in this economy.

She said if she is paid such a money as a maid, she will sl£ep with the man of the house.

Continue reading on Instablog

Major U.S. equities indexes were little changed on Monday. Fresh off a week of volatile trading driven by economic concerns, key data on inflation, retail sales, and the housing market will be in focus this week for those trying to assess the health of the economy.

The S&P 500 was essentially flat to start the trading week. Technology was the top-performing sector, helping the Nasdaq edge 0.2% higher, while the Dow was down 0.4%.

KeyCorp (KEY) shares surged 9.1%, marking the top daily performance in the S&P 500, after the regional bank announced a $2.8 billion investment from Bank of Nova Scotia (BNS). The transaction gives Scotiabank a 14.9% stake in KeyCorp. The company said the investment from the Canada-based financial giant represented an optimal way to raise capital and enhance its strategic position.

Super Micro Computer (SMCI) shares added 6.3%, clawing back a portion of the losses posted last week after the server and data storage firm posted lower-than-expected quarterly profits. Supermicro noted that its decreased gross margins during the quarter reflected higher costs of ramping up production of its direct liquid cooling (DLC) technology for artificial intelligence (AI) data centers. A report in The Wall Street Journal over the weekend highlighted the potential for liquid cooling to improve data center energy efficiency, suggesting Supermicro's DLC investments could pay off.

Shares of AI chip behemoth Nvidia (NVDA) gained 4.1% as Bank of America named the stock one of its top "rebound" picks. Analysts pointed to Nvidia's solid position in the data center market as tech giants prepare to boost infrastructure spending. More positive commentary came from analysts at UBS, who said a reported delay in the launch of Nvidia's Blackwell AI chip could turn out to be less consequential than originally anticipated.

Shares of Albemarle (ALB), the world's largest lithium producer, tumbled 6.9%, posting the widest loss of any S&P 500 stock. Slumping lithium prices, which have fallen more than 80% since the beginning of 2023 amid lower electric vehicle (EV) demand, remain an overhang on Albemarle stock. In its most recent earnings report, the company disclosed a $188 million net loss and said it would add to a growing list of cost-reduction initiatives.

Solventum (SOLV) shares slid 4.8% on the day after analysts at Wells Fargo trimmed their price target on the stock. The medical technology company, which completed its spinoff from 3M (MMM) in April, reported second-quarter results last week, announcing a 70% year-over-year decline in net income, based on figures carved out from 3M's health care business. Reduced sales growth for wound care and surgical sterilization products weighed on Solventum's performance.

Shares of Warner Bros Discovery (WBD) fell 4.5%, extending losses posted in the wake of Thursday's earnings report. The entertainment giant reported a quarterly loss of nearly $10 billion, reflecting the impact of a write-down in the value of its cable networks. The cable business remains under pressure from cord-cutting and the success of streaming services.

Read more on Investopedia

Super Micro Computer (SMCI) shares jumped more than 6% on Monday, recovering a portion of the steep losses recorded last week after the server and data storage company released its fiscal fourth-quarter earnings.

In its latest set of quarterly figures, released after the closing bell Tuesday, the server maker reported revenue had more than doubled from the prior year, edging out analysts' sales forecasts. Profits, however, fell short of expectations, and Supermicro's stock plunged 20% the next day.

Although Supermicro forecasted further sales growth, increasing costs contributed to a drop in margins that appeared to underpin the negative reaction to the earnings report. Bank of America analysts downgraded the stock to "neutral," saying they expect margins to remain subdued in coming quarters.

On its earnings call, Supermicro attributed the downtick in gross margins to product mix, competitive pricing aimed at securing new design wins, and elevated initial costs involved in increasing production of direct liquid cooled (DLC) technology for clusters of graphic processing units used in artificial intelligence (AI) data centers.

As DLC production ramps up, the company believes it can slow manufacturing costs to drive margin recovery.

In addition to the company's assertion that preliminary cost headwinds should be temporary, a report over the weekend in suggested that Supermicro's investments in liquid cooling technology could pay off. The article highlighted liquid cooling as a "novel method" for helping AI data centers without relying as heavily on energy-intensive air conditioners.

Supermicro delivered more than 1,000 liquid-cooled AI racks in June and July, according to the report, and around 30% of the server racks the company ships next year will incorporate liquid cooling.

Following last week's losses and Monday's recovery, Supermicro shares have gained nearly 90% so far in 2024.

Read more on Investopedia

President Bola Tinubu has approved a new national policy in curbing health workforce migration.

In a statement on Monday, Ali Pate, coordinating minister of health and social welfare, said the policy is a comprehensive strategy to manage, harness, and reverse health workers’ migration.The minister added that the policy will also encourage the return of professionals to Nigeria through attractive incentives and reintegrate them into the nation’s health system.

“This approach leverages the expertise of our diaspora to bridge gaps within the health sector. Also, the policy champions reciprocal agreements with other nations to ensure that the exchange of health workers benefits Nigeria. These bilateral and multilateral agreements are designed to protect national interests while respecting the rights and aspirations of our healthcare professionals.

We call on recipient countries to implement a 1:1 match — training one worker to replace every publicly trained Nigerian worker they receive,” the statement read.

The minister said the policy recognises the importance of work-life balance and has included provisions for routine health checks, mental well-being support, and reasonable working hours, especially for younger doctors. “These measures aim to create a supportive work environment, reducing burnout and enhancing job satisfaction,” Pate said. “The governance of this policy will be overseen by the National Human Resources for Health Program (#NHRHP) within @Fmohnigeria, in collaboration with state governments. This ensures responsible implementation and alignment with broader sector-wide (#SWAp) health objectives.”

Continue reading on Instablog

Nigerians have shared their observations about the current season of Big Brother Naija show.

They said it is the worst edition of the Big Brother seasons because there was no aura in it, no interesting personalities, no controversial personalities, no intriguing social media talking point and that probably Nigerians have outgrown the show.

Continue reading on Instablog

Semiconductor stocks could be set for a rebound in the fourth quarter as seasonal headwinds ease, according to Bank of America Securities analysts. 

Chipmakers have had a tough start to the third quarter amid heightened volatility, with recent jobs data raising concerns about the U.S. economy and shifting expectations for rate cuts by the Federal Reserve. 

The iShares Semiconductor ETF (SOXX) has lost nearly 14% in the calendar third quarter so far, while the S&P 500 is down about 2%. However, even with recent losses, the exchange-traded fund focused on chip stocks is up more than 11% since the start of the year, while the S&P 500 has climbed a little over 12% in the same period. 

The SOX semiconductor index gained about 0.7% on Monday but has lost 13% since the start of the third quarter.

“If history is any guide, SOX could recover starting in October,” the analysts said, with the calendar fourth and first quarters bringing average returns between 7% and 10.5% since 2010, about 400 basis points above the S&P 500. 

Semiconductor stocks may not be alone in being poised to emerge from a seasonally difficult period, with August and September historically among the weakest months for the S&P 500 more broadly, while November and December are some of the strongest. 

Bank of America warned that elections in the U.S. and geopolitical tensions could raise uncertainty later in the year, though historical data also suggests markets have tended to rise in presidential election years.

The analysts said that larger chipmakers with greater exposure to the data-center market, such as Nvidia (NVDA) and Broadcom (AVGO), would be in a stronger position, in their base case, with cloud computing giants including Microsoft (MSFT) and Amazon (AMZN) set to raise spending on infrastructure. 

Nvidia, Broadcom, and KLA (KLAC) were Bank of America’s top semiconductor stock picks overall, citing “consistent execution in their respective sub-sectors.”

Nvidia partners Arm Holdings (ARM), Micron Technology (MU), and Onsemi (ON) could also be particularly well-positioned to benefit from a stronger-than-expected resurgence, based on their potential ability to scale sales quickly if demand rises faster than anticipated, the analysts said. 

However, if demand ends up proving weaker than expected, analysts highlighted Broadcom, Synopsys (SNPS), and Cadence Design Systems (CDNS), among other chip stocks, based on historical performance. 

Read more on Investopedia