The Adani Group has issued a clarification regarding the charges against its founder, Gautam Adani, following a US indictment.

Adani Green Energy Ltd., in a stock exchange filing on Wednesday, stated that neither Gautam Adani nor his aides, Sagar Adani and Vneet Jaain, have been charged under the US Foreign Corrupt Practices Act (FCPA), contrary to some media reports.

The company clarified that the Department of Justice indictment charges Gautam Adani, Sagar Adani, and Vneet Jaain with conspiracy to commit securities fraud, wire fraud conspiracy, and securities fraud.

These charges generally carry less severe penalties than bribery.

Additionally, Gautam and Sagar Adani face a civil complaint for violating sections of the Securities Act and aiding and abetting Adani Green in violating the Act.

The Adani Group has previously denied all allegations and stated its intention to pursue legal action in its defense.

FCPA and its implications

The FCPA prohibits companies or individuals with US ties, such as public listings, American investors, or joint ventures, from offering bribes to foreign government officials in exchange for favorable treatment.

While the Adani Group does not directly trade in the US, it does have American investors, which establishes a US link.

Federal prosecutors allege that Adani and other defendants promised over $250 million in bribes to Indian officials to secure solar energy contracts, concealing this scheme while raising capital from US investors.

FCPA investigations are often complex and lengthy, involving the gathering of evidence and interviewing witnesses potentially located outside the US.

However, these cases tend to be high-profile and can lead to significant fines for companies and notable victories for prosecutors.

Potential penalties for Adani Green

Adani Green acknowledged facing potential monetary penalties under the civil complaint but stated that the specific amount has not yet been determined.

The company’s filing aims to provide clarity on the specific charges and potential repercussions of the ongoing legal proceedings.

The post Adani group clarifies charges: no FCPA violation for Gautam Adani appeared first on Invezz

The SPDR Dow Jones Industrial Average (DIA) ETF continued charging ahead this week, reaching its highest level on record. The fund, which tracks 30 big companies in the US, jumped to a high of $448.9 on Tuesday, bringing the year-to-date gains to almost 22%.

Catalysts for the DIA ETF

The Dow Jones Index has soared this year, helped by the rising hopes that the Federal Reserve will continue cutting interest rates in the coming months.

It has already slashed rates by 0.75% this year, and analysts expect it to deliver several more in 2025. Minutes released on Tuesday showed that officials favor a more gradual pace of cuts going forward, which is also a good thing for the market.

The Dow Jones and other stock indices do well when the Federal Reserve is cutting interest rates. In most cases, these rate cuts usually lead to a rotation from fixed-income to the relatively risky stock market. 

The DIA ETF has also jumped because of the year’s strong corporate earnings. Data compiled by FactSet showed that 95% of all companies in the S&P 500 index have published their Q3 results. Of these firms, their earnings growth was about 5.8%, marking the fifth consecutive quarter of earnings growth. 

Additionally, the Dow Jones index has benefited from the recent entry of NVIDIA, the biggest company in the world. NVIDIA has been one of the best-performing companies in the United States in the past few years. 

Further, analysts now believe that Donald Trump will be a good president for the market. He has already appointed Scott Bessent as the next Treasury Secretary. Bessent, a billionaire is seen as a more market friendly person for the role.

Top Dow Jones companies in 2023

NVIDIA, which has just entered the index, is the best performer as its stock jumped by over 176% this year. Its rally has been propelled by the artificial intelligence craze that has led to a substantial demand for its products.

The most recent NVIDIA earnings showed that the company made over $37 billion in the last quarter, a record high. These numbers mean that it has now generated over $80 billion in the first nine months of the year, a trend that may continue.

NVIDIA has a large market share that is also supported by its Cuda software which helps to reconfigure GPUs to be compatible in handling other tasks.

Walmart, the biggest American retailer, has been the second-best performer in the index as it jumped by 73% this year. The company has benefited from the resilient demand for its products, which are often seen as being fairly priced. It has also expanded its business and gained market share in areas like health and sports. 

American Express stock price has jumped by 63% this year, while Goldman Sachs, JPMorgan, 3M, IBM, Travelers, Caterpillar, Amazon, and Salesforce have soared by over 35% this year. 

On the other hand, the top laggards in the DIA ETF are companies like Boeing, Nike, Merck & Company, and Amgen. 

SPDR Dow Jones ETF analysis

DIA ETF chart by TradingView

The daily chart shows that the DIA ETF stock has been in a strong bullish trend in the past few years. It recently crossed the important level at $444.60, its highest level on November 11. By moving above that level, it has invalidated the double-top pattern.

The ETF has moved above the 50-day and 100-day moving averages, a bullish sign. It has moved to the overshoot level of the Murrey Math Lines and is quickly approaching the extreme overshoot. 

The DIA ETF’s Relative Strength Index (RSI) has moved to the overbought level at 70. Therefore, the fund will likely continue rising as bulls target the next key resistance point at the extreme overshoot of $453. As I warned on the Russell 2000 and S&P 500 index on Tuesday, a short-term reversal cannot be ruled out. 

The post DIA ETF forecast: what next for the Dow Jones index fund? appeared first on Invezz

Texas Pacific Land (TPL) stock price has gone parabolic this year, helped by its strong performance and robust insider transactions. It jumped to a record high of $1,767 this week, bringing the year-to-date gains to about 200%, making it one of the best-performing companies in the United States.

TPL stock jumps amid insider purchases

Data shows that the Texas Pacific Land insiders have been aggressively buying the company’s shares in the past few years.

According to Barchart, these insiders have bought 702 shares in the past three months. At the current price, these stocks are now worth over $1 million. Cumulatively, they have bought 2,913 shares currently worth over $4.5 million in the last 12 months.

Murray Stahl, a key insider and the Chairman and CEO of Horizon Kinetics has been one of the biggest buyers of the stock. Chris Steddum and Stephanie Buffington, the CFO and CAO have also continued to buy the shares.

Insider transactions are some of the top leading indicators that investors look at when making decisions. In most periods, stocks tend to do well when insiders are buying the shares since they have a clearer picture about what is going on. 

Texas Pacific Land is doing well

The ongoing insider transactions are happening because the company is doing relatively well. For starters, TPL is a leading company that owns thousands of acres of land, mostly in Texas. 

It owns 868,000 acres of land in Western Texas at the Permian Basin. The company also owns a nonparticipating perpetual oil and gas royalty interest under 195,000 acres of land.

TPL makes money by providing its land to companies in the oil and gas industry. As a result, while it does not produce oil and gas directly, the company benefits when the sector is doing well. 

For example, it receives a fee during the initial development phase of wells. This fee is typically for its land and other products it sells like caliche. After that, the company makes money during the drilling and completion by providing water and fees for the land.

Additionally, Texas Pacific Land makes money during production through its rights and for providing saltwater disposal. The company also receives fees from other players in the energy sector like pipelines and utility providers. 

Its oil and gas royalties are the biggest part of its business followed by easements and land sales. In addition to this, it benefits from the appreciation of its land resources over time.

Texas Pacific Land’s business has done fairly well in the past few years as its revenues have jumped from $302 million in 2020 to $631 million in the last financial year. Its net income rose to almost $450 million. 

The most recent financial results showed that the company acquired mineral interest on about 4,106 net royalty acres in the Delaware Basin for $120 million. It had royalty oil production worth 28.3k barrels of oil equivalent a day, bringing its net income to $106.6 million. 

The company also declared a special cash dividend of $10 in July and boosted its quarterly cash dividend to $1.17. Therefore, this performance will likely continue doing well in the near term. 

Texas Pacific Land stock price analysis

TPL chart by TradingView

The daily chart shows that the TPL share price surged to a record high of $1,762, its all-time high. It moved above the key resistance level at $886, its highest level on November 2022. That was the upper side of the cup and handle pattern.

Texas Pacific Land shares have moved above the 50-day and 100-day Exponential Moving Averages (EMA). Most importantly, the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the overbought level.

Therefore, while the stock may continue rising, there is a likelihood that it will have a small pullback to about $1,400 and then resume the bull run. More gains will be confirmed if the stock jumps above the key resistance level at $1,762.

The post Insiders are buying Texas Pacific Land stock: is it a good buy? appeared first on Invezz

Walmart (WMT) stock price is doing well this year, and is one of the best-performing companies in the United States. It has jumped by 73% this year, bringing its market cap to over $733 billion, making it substantially bigger than companies like Costco and Home Depot. 

Walmart stock helped by strong growth

The WMT share price surge has been propelled by its strong revenue over the years and the fact that it is gaining market share in other sectors. 

Walmart’s annual revenue has jumped from over $523 billion in 2019 to over $648 billion in the last financial year. 

This growth happened because Walmart is often seen as an all-weather company because of its strategy. In most periods, the company’s products are often cheaper than other retailers. Also, Walmart has a wide variety of products, a great rewards program, and has locations across the country. 

Walmart has also been helped by its investments in e-commerce, which has helped make it become available to most people. 

Most importantly, it has become a more profitable company. Just last year, its net profit jumped to over $15.5 billion. It has used these funds to pay its shareholders dividends, which has made it a dividend king after making payouts for 50 years. Walmart has room to grow its dividends because it has a payout ratio of just 33%.

Read more: Is it too late to invest in Walmart stock as it hits a record high? here’s what experts are saying

In addition to dividends, the company has been slashing its outstanding shares. Its total outstanding shares fell from 8.50 billion in 2020 to 8.03 billion, a trend that will continue in the near term.

Walmart has continued to gain market share across other industries. For example, analysts believe that the company is partly to blame for the crisis going on in firms like Walgreens Boots Alliance and CVS Health.

The most recent financial results showed that Walmart’s revenue rose by 5.5% to over $169 billion, higher than what analysts were expecting. Its margins rose by 21 basis points, while its global e-commerce volume jumped by 27%.

Walmart has also become a major player in the advertising industry, where its customers market on its stores and website. 

Can WMT’s market cap hit $1 trillion?

The $1 trillion club has grown rapidly in the past few months, with the number of firms with that valuation jumping to 9 or 10, with Bitcoin included. 

Walmart is the 12th biggest company globally with a market cap of $733 billion, meaning that its stock needs to rise by 27% to hit that valuation. This means that the WMT share price needs to get to $115.95. 

Such a move is possible if the company continues delivering strong results as it has done in the past few years. However, the biggest concern for Walmart has always been its valuation since the firm makes a net profit of less than $20 billion a year. If it averages $20 billion a year, its total profit in the next 20 years will be about $400 billion.

These numbers mean that Walmart has a forward P/E ratio of 36, meaning that all factors were constant, it would take these years to break even if you bought it. It also trades at a forward EV-to-EBITDA multiple of 26, higher than the industry median of 15. 

Read more: Why is Target losing to Walmart, and will it ever catch up?

Walmart stock price analysis

The weekly chart shows that the WMT share price has been in a strong bull run in the past decades. It has recently crossed the important resistance level at $90 as buyers target the key resistance point at $100. 

The stock remains much higher than the 50-week and 200-week moving averages. Also, the Relative Strength Index (RSI) and the Stochastic Oscillator have moved to the extremely overbought level.

Therefore, the stock will likely continue rising as bulls target the key resistance level at $115, when will it gets to a $1 trillion company. However, there is a risk that the stock could suffer a slight retreat as investors start to take profits. In the long term, though, the stock will continue doing well because of its role in the US.

The post Walmart stock price is firing on all cylinders: could it hit $1 trillion? appeared first on Invezz

The cryptocurrency market is abuzz with contrasting narratives as two distinct tokens, Keanu (KNU) and Solana (SOL), capture investor attention.

Keanu, a relatively new entrant inspired by the cultural phenomenon of Keanu Reeves, is making waves with its meme-driven appeal and charitable ethos.

On the other hand, Solana, an established altcoin heavyweight, continues to solidify its position with robust decentralised exchange (DEX) activity and consistent network growth.

While Solana’s impressive track record and institutional backing make it a dominant force, Keanu’s grassroots momentum, affordability, and unique branding suggest it could offer higher returns for investors willing to embrace its early-stage potential.

Keanu price data

Keanu, currently trading at $0.002313, is a meme coin with a mission to combine charitable efforts with robust market performance.

Its fully diluted valuation (FDV) of $2.31 million and a circulating supply of 1 billion tokens indicate a highly accessible token with significant upside potential.

The 24-hour trading volume of $356,810 showcases growing interest among retail investors.

This volume represents an impressive 15.74% of its market capitalisation, underlining active participation in the market.

Source: CoinMarketCap

What sets Keanu apart is its community-driven branding.

The slogan “Keanu Makes Bank, Keanu Gives Back” highlights its commitment to philanthropy, a rarity in a sector often focused on short-term gains.

The token has successfully built a “cult-like” following, leveraging the meme culture and Keanu Reeves’ global popularity.

Such organic community support is a powerful driver for growth, especially in a market that thrives on virality and sentiment.

Solana’s recent performance

Solana, on the other hand, continues to make headlines with its strong price surge of 37.91% over the past month.

Currently trading at $232.73, Solana has demonstrated resilience and growth, thanks to its highly scalable network and rising decentralised exchange (DEX) activity.

The network’s market capitalisation of $110.55 billion and 24-hour trading volume of $7.14 billion reflect its dominant position in the market.

Source: CoinMarketCap

Solana’s Relative Strength Index (RSI) of 58.41 suggests it is not overbought, indicating room for further growth.

However, challenges remain. A drop to its support level at $213.53 is possible if selling pressure increases.

For Solana to reach ambitious targets like $500, significant market catalysts, including institutional adoption and ecosystem growth, are necessary.

While its historical performance shows potential for high growth, its sheer size means further gains might require substantial market momentum.

Why Keanu holds the edge over Solana

Although Solana has the infrastructure and liquidity to remain a market leader, Keanu’s appeal lies in its community-centric approach and lower market entry point.

For new investors, Keanu represents an opportunity to participate in a token with substantial growth potential without the high barrier of entry associated with Solana.

Keanu’s focus on combining meme culture and philanthropy is a unique narrative in the crypto world.

Unlike Solana, which relies heavily on institutional partnerships and technological advancements, Keanu’s success is driven by organic community engagement.

Source: CoinMarketCap

This model has proven effective for other meme tokens like Dogecoin and Shiba Inu, which skyrocketed due to similar grassroots support.

Keanu’s smaller market cap means it has more room to grow compared to Solana, which is already a mature asset.

As the token continues to gain traction on platforms like Pump.fun and Raydium, its potential to become a breakout success increases.

The excitement surrounding its charitable initiatives adds another layer of differentiation, attracting investors who prioritise social impact alongside returns.

The post Keanu price surges with community support, outperforming Solana’s scalability appeared first on Invezz