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Click here to read this on StonyFinLab.org
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Featured Student Column: Equity Research Report
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Analyst: Maxwell Rodriguez*
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Lumen Technologies has experienced significant growth over the past year, driven by leadership changes and strategic partnerships with major companies like Amazon, Google, Meta, and Microsoft. This progress boosted its stock price, peaking at $10.33 in November. However, concerns about its large debt remain a key challenge, fueling investor skepticism. Lumen's shift from mass markets to industry partnerships reflects a long-term profitability focus. While its $5 billion in deals highlights promising business activity, investors should remain cautious and monitor its debt management and restructuring efforts for future potential.
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Student loan borrowers may face unexpected tax bills in 2025 when debt forgiveness becomes taxable again after the expiration of the American Rescue Plan Act's tax exemption. The SAVE income-driven repayment plan, which has over 6.8 million enrollees, currently offers tax-free loan forgiveness through 2025. Without Congressional action to extend the tax exemption, forgiven debt will be taxed as regular income starting January 1, 2025.
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Asian currencies declined after China reported weak economic data and cut interest rates unexpectedly, with the yuan hitting a four-month low. The disappointing Chinese retail sales and industrial output figures caused a widespread impact on Asian markets, particularly affecting the currencies of China's major trading partners.
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U.S. retail sales increased 0.3% in November, exceeding expectations and marking the third straight monthly rise. Strong spending was seen across various sectors, especially in restaurants, bars, and online retail, indicating robust consumer activity. While this suggests economic strength entering 2024, some economists predict a future slowdown in spending growth.
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Amazon has introduced a new feature allowing customers to tip delivery drivers using cryptocurrencies like Bitcoin through the Lightning Network. This expansion of Amazon's existing tipping program, which previously only accepted fiat currency, is made possible through a partnership with Strike, a Bitcoin payment app. The integration of crypto tipping aims to provide more options for customers to show appreciation for delivery drivers, potentially increasing the adoption of digital currencies in everyday transactions.
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Thanks to our members and volunteers (Seungyun Nam, Rishi Jain and Daoqi Fang) for contributions to this newsletter.
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Stony Finance Lab is a community-based finance network that aims to promote personal financial responsibility and helps the community to achieve financial confidence and financial independence through life-long learning. The emails are to distribute news and information on finance research, events, jobs related to personal finance, investments of financial and digital assets, academic finance, and entrepreneurship. All emails are for information sharing only and shall not be deemed as financial advice. The Lab is not liable for the consequence of using any information contained in the emails.
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