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Michael Harris

Michael Harris

I began trading in my early 20's at a local company and since then have combined my knowledge and love of content to become a news writer. I am passionate about bringing insightful articles to readers and hope to add some value to your portfolios!

Latest Articles by Michael Harris

GBP/USD refuses to catch pace despite a 0.9% gain in UK’s retail sales in January

The UK’s Office for National Statistics released the monthly retail sales report on Thursday. Following a slow end to 2019, the data suggested 2020 to have started with increased spending from the shoppers in the United Kingdom. Analysts construed Thursday’s report as improved sentiment after PM Johnson’s victory in the general election o...

Australia’s unemployment rate climbs to 5.3% in January versus 5.2% expected

The Australian Bureau of Statistics announced the unemployment rate to have unexpectedly surged in January despite an increase in full-time employment. As per Thursday’s data, unemployment climbed to 5.3% in January versus a 5.2% anticipated by economists. The data also highlighted 13,500 new jobs to have been added to the Australian mark...

U.S producer prices climb 0.5% in January versus 0.1% expected

The U.S Bureau of Labor Statistics revealed the producer prices index (PPI) report on Wednesday. The data suggested the sharpest increase in PPI in January in over a year. The increase was largely attributed to higher service costs in the healthcare and hotel accommodation sectors. The Labor Department announced the U.S PPI to have climbe...

Groupon loses 25% in the stock market following broadly downbeat Q4 results

Groupon released its fourth-quarter earnings report on Tuesday that saw a massive 25% decline in its stock in after-hours trading as the company announced to have missed the earnings and revenue forecast in the recent quarter. According to Refinitiv, analysts were expecting the American global e-commerce marketplace to print $709 million...

Analog Devices gives downbeat guidance for fiscal second-quarter amidst rapidly spreading Coronavirus

Chipmaker Analog Devices said on Wednesday that its revenue in the second quarter is likely to take a hit in the wake of the recent outbreak of Coronavirus in China. Forecasting lesser revenue than the analysts’ estimate in Q2, the company said that the health emergency could cost it $70 million in the quarter. The American multinational...

Dish Network beats Wall Street expectations in its quarterly performance report

Dish Network announced its quarterly performance results on Wednesday that came stronger than the Wall Street expectations. The company attributed the success to losing considerably lesser pay-TV subscribers than originally thought. Dish was previously struggling in keeping its pay-TV subscribers ascribed to a change in trend and a higher...

Statistics Canada reveals a 2.4% growth in Canada’s annual inflation

Statistics Canada announced the monthly consumer price index (CPI) report for January on Wednesday. The data highlighted a 2.4% growth in Canada’s annual inflation last month. Much of the gain, according to the analysts, was attributed to higher prices for gasoline. Giving an optimistic view of the economy, experts anticipate Wednesday’s...

UK consumer prices increase at a 1.8% annualized rate in January versus 1.6% expected

United Kingdom’s Office for National Statistics (ONS) announced the Consumer Price Index (CPI) report on Wednesday. The index hinted at UK’s inflation to have increased sharply in January to record a new 6-month high. The rise in CPI, as per the experts, was attributed to smaller than usual decline in terms of airfares and higher prices f...

Walmart downgrades guidance for fiscal 2020 following a downbeat performance in Q4

Walmart revealed its Q4 earnings report on Tuesday that missed analysts’ estimates attributed to weakened demand for apparel, toys, and video games in the holiday quarter. The American multinational retail corporation also gave its guidance for fiscal 2020 that came shy of the expectations. As per the retailer, e-commerce growth is expect...

Medtronic attributes lower than expected quarterly revenue to fading demand in its heart devices unit

Medtronic recently joined the list of businesses that anticipate a significant hit ascribed to the recent outbreak of Coronavirus in China. In its third-quarter earnings report on Tuesday, the company failed to hit the estimate for revenue. Medtronic says it saw a fading demand in its heart device unit in the recent quarter that led to po...

Brokerages upgrade price target on Nvidia following surprisingly upbeat quarterly results

Nvidia announced its quarterly performance results on Friday that surprised the analysts with stronger than expected reading for revenue. The American technology company joined its competitors like AMD (Advanced Micro Devices) and Intel in anticipating upbeat demand for advanced chips as a core component of the latest generation artificia...

Virgin Galactic climbs 24% on Tuesday marking a 400% gain in the stock market since early December

Virgin Galactic Holdings extended its upward rally further on Tuesday with a massive 24% daily gain. Following yesterday’s rally, Virgin now records a more than 400% increase in the stock market since early December. While analysts appreciate its performance, they are now recommending caution highlighting that the spaceflight company has...

Dell to sell its cybersecurity RSA unit to STG Partners for $2.08 billion

In its announcement on Tuesday, Dell Technologies declared that it has decided in favor of selling its cybersecurity unit RSA. The American multinational computer technology company struck a deal with STG Partners LLC for $2.08 billion. The transaction is not yet completed but Dell expressed confidence that it will be finalized in the upc...

December’s report suggests a sharp decline in manufacturing sales in Canada

Statistics Canada announced the monthly manufacturing sales report for December on Tuesday. The data highlighted Canadian factory sales to have sharply declined in December. 2019 was a tough year for Canada’s manufacturing sector at large. Tuesday’s data highlighted that the last economic report concerning the manufacturing sector failed...

ZEW German economic sentiment drops sharply in February

The European Economic Research center, ZEW, revealed the monthly economic sentiment index on Tuesday. Recorded sharply lower than the economists’ forecast for February, the report weighed on Euro in the forex market that immediately lost traction following the release of the economic data. German Economic Sentiment Records At 8.7 In Febru...

EU industry commissioner says the EU is not liable to adapt to Facebook’s standards

Thierry Breton, the EU industry commissioner, reminded Facebook on Monday that it is for the social network to align its policies and operations as per Europe’s standards and not the other way around. Breton largely disregarded the internet rules proposed by the well-renowned U.S social media as insufficient. Breton’s comment came followi...

HSBC to cut $100 billion worth of assets in an attempt to improve returns in 2020

HSBC Holdings seems to be aiming for a massive improvement in its returns this year. Announcing its largest multi-year overhaul, the financial services company said that it plans on cutting a few of its assets worth $100 billion. As part of the restructuring in the U.S and Europe, HSBC will also be slashing its investment bank. HSBC strat...

U.S to consider a new restriction on global chipmakers in doing business with Huawei Technologies

The White House seems committed to placing a global ban on Huawei Technologies. In a recent development, President Trump is evaluating a new option of tweaking the U.S regulations that will enable it to block Huawei Technologies from receiving chips shipments from suppliers like Taiwan Semiconductor Manufacturing Company (TSMC). TSMC is k...

Amazon pledges $10 billion investment in support of environment protection and climate change

CEO Jeff Bezos of Amazon pledged $10 billion in donation to nonprofits, activists, scientists, among other groups to help support their battle against climate change and environment protection. As per the experts, however, it will be a major challenge for Amazon to contain emissions. With as many as 10 billion deliveries per year, the e-c...

Apple says it is unlikely to hit its previously given quarterly guidance amidst the Coronavirus emergency in China

In its announcement on Monday, Apple highlighted that it is expected to miss its sales guidance that it gave only 3 weeks ago for the current quarter. One of the most valuable technology companies across the globe also said that the recent outbreak of Coronavirus in China has cast the strongest impact on its business operations. The coron...

Eurozone finance ministers to meet on Monday and discuss the need for more fiscal stimulus

Finance ministers of the Eurozone are to hold a meeting on Monday to discuss a document that accentuates the requirement of tweaking the region’s monetary policy to add more fiscal stimulus and fuel growth. Such a strategy is expected to increase German spending amidst the rising risks of a new downturn. For years, Eurozone finance minist...

Simon Property Group announces plans of acquiring Taubman in a $3.6 billion deal

America’s mall operators have recently been struggling with a sharp decline in foot traffic in the past few months. Simon Property Group, however, remains confident that the best malls will eventually survive the market challenges as it continues with its buying spree. Simon has a reputation for the largest mall owner in the United States...

Tesla receives an order from a German court to stop clearing forest land for its Gigafactory

Tesla Inc. has been excited about its first European factory dedicated to manufacturing electric cars and batteries in Berlin. As of Sunday, however, Tesla has been ordered by a German court to figure out an alternative for establishing its Gigafactory without clearing Berlin’s forest land. The court’s verdict was construed as a major vic...

New York shuns the idea of appealing the U.S federal judge’s approval for T-Mobile and Sprint merger agreement worth $40 billion

U.S wireless carriers, Sprint Corp and T-Mobile recently received approval for the $40 billion merger from the U.S court of law. In its statement on Sunday, New York highlighted that the state has no plans of appealing the judge’s approval as it has decided to drop its fight against the two companies. Letitia James commented on Sunday in...

Xerox to hold a dinner for HP shareholders to win investors’ support for its takeover bid

Xerox Holdings Corp had recently offered a takeover bid worth $35 billion to HP Inc. Since the PC manufacturer was not impressed of the deal’s valuation, Xerox has now resorted directly to HP’s shareholders in an attempt to get investors’ support. As per the sources, the U.S printer maker plans to host a dinner for HP’s shareholders later...

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