Saturday, October 03
The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June. Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 245,000 for the week ended June 14, the Labor Department said on Wednesday. Economists polled by Reuters had forecast 245,000 claims for the latest week. The report was released a day early because of the Juneteenth National Independence Day holiday on Thursday. Claims are in the upper end of their range for this year and could remain there, with non-teaching staff in some states eligible to file for unemployment benefits during the summer school holidays. Though some technical factors accounted for the elevation in claims, there ha
ET Intelligence Group: The share of top five IT exporters in the total sector's revenue fell by over 100 basis points year-on-year to 81.3% in the March 2025 quarter. It has gradually fallen over the past few quarters to hit the lowest level in at least 29 quarters or since March 2018 quarter amid rising traction shown by a select mid-tier IT companies, including Coforge, Hexaware, and Persistent Systems. The tier-II companies have been reporting higher revenue and profit growth year-on-year over the past several quarters compared with the larger peers led by the shifting focus of clients to short term projects from larger multi-year transformational deals. The top 5 IT exporters include TCS, Infosys, HCL, Wipro and Tech Mahindra ranked based on annual revenues. Sample of tier-II companies
A look at some of the latest stock recommendations by analysts. These stocks are expected to return between 12% and 19% as per analyst price targets.MAX FINANCIAL SERVICES BROKERAGE: CITI Price Target: Rs 1,840 CMP: Rs 1,585 | Upside: 16% Initiate coverage with buy rating; Diversified product and channel mix coupled with robust execution engine augur well Strong bancassurance partnership for Axis Max Life Insurance provides comfortHDFC Life and SBI Life remain preferred picks among life insurersSCHNEIDER ELECTRIC INFRASTRUCTURE BROKERAGE: GOLDMAN SACHS Price Target: Rs 910 CMP: Rs 766 | Upside: 18.89% Buy from Sell to reflect the estimated 15.6% compounded growth in Total Addressable Market in FY25-32 Potential beneficiary of government schemes such as Revamped Distribution System Scheme D
