Tag Archives: fall

(Corrects to remove reference to three stocks in fourth paragraph) * Social media stocks rally after strong results * AmEx jumps on blowout Q2 profit * Intel sales forecast implies rocky second half of 2021 * Indexes up: Dow 0.39%, S&P 0.44%, Nasdaq 0.26% By Devik Jain and Shreyashi Sanyal July 23 (Reuters) – Wall Street’s main indexes rose on Friday, helped by megacap technology stocks and strong earnings from social media companies, while a weak sales forecast from Intel hit chipmakers amid… Source link

Virgin Galactic Holdings (SPCE) is looking to sell up to $500 million worth of common stock. The company has engaged the services of Credit Suisse Securities (CS), Morgan Stanley (MS), and Goldman Sachs (GS) as part of a capital raising drive. The three will act as the company’s agents in the sale. SPCE stock price plunged 17.30% to close at $40.69 yesterday. The agents are entitled to commission at a mutually agreed rate that will not exceed 2% of the gross sales price. (See Virgin… Source link

Grubhub and Russia-based Yandex are teaming up to bring meal services to students through rovers. Photos courtesy of Grubhub/Yandex Students at more than 250 colleges and universities already enjoy the ease of Grubhub’s food delivery service, but it’s about to get a lot more streamlined. Grubhub announced it has partnered with Yandex… Source link

The price of the world’s biggest cryptocurrency declined again on Friday. Photo: Liu Junfeng/Costfoto/Sipa USA Bitcoin (BTC-USD) looked set to register a weekly price decline, as the world’s biggest cryptocurrency lost value yet again on Friday morning. Bitcoin was down 1.4% against the dollar in early trade to reach $33,067 (£24,042). The early weakness raised the prospect of a third straight day of price declines for bitcoin, which is now below the $34,294 mark it started the week at. Other… Source link

An antitrust suit against Facebook by the FTC and several states had the wind taken out of its sails today by a federal judge, who ruled that the plaintiffs don’t provide enough evidence that the company exerts monopoly control over social media. The court was more receptive, however, to revisiting the acquisitions of Instagram and WhatsApp, and the case was left open for regulators to take another shot at it. The court decision was in response to a Facebook motion to dismiss the suit. Judge… Source link

By Sohini Podder    (Reuters) -Shares of Sprinklr Inc, which counts Microsoft Corp and Verizon Communications Inc as customers, fell nearly 9% in their U.S. stock market debut on Wednesday, valuing the software startup at about $3.7 billion.    The New York-based company, backed by private equity firm Hellman & Friedman, raised $266 million in its downsized initial public offering on Tuesday. (https://bit.ly/3gVux0R)    Shares opened at $14.60, compared with Sprinklr’s IPO price of $16… Source link

Initial unemployment claims likely dropped for a seventh straight week to a fresh pandemic-era low, with the number of newly unemployed individuals trending down as economic activity ramped further. In the coming weeks, a phase-out of enhanced unemployment benefits across many states may further decrease the total number of claimants.   The Department of Labor is set to release its weekly report on new jobless claims on Thursday at 8:30 a.m. ET. Here are the main metrics expected from the… Source link

At the height of the COVID-19 pandemic, landlords in major cities across the country were rolling out the red carpet to attract renters. Faced with a glut of empty apartments amid an urban exodus, landlords in New York City for example, lured renters with things like three months free rent, American Express gift cards, and Citi Bike memberships. Now, with nearly half of the U.S. population vaccinated and the economy reopening, landlords aren’t feeling as generous. Jonathan Miller, president… Source link

With a roster of new executives on deck, video game retailer GameStop (GME) is gearing up for a turnaround. But for investors, that new direction is as yet unclear. Shares of GameStop sank by 27% on Thursday, logging their worst day since March even after the company reported first-quarter results that topped estimates. Sales grew by a better-than-expected 25% to $1.28 billion, while adjusted losses narrowed to 45 cents per share, compared to losses of $1.61 per share during the same period… Source link

Fossil’s Gen 5 watches, released over a year ago, are getting an upgrade in the fall. Fossil