Tag Archives: Stock

A new Bank of America (BAC) Global Research report found a rising supply of Uber (UBER) drivers was the main driver of the company’s first profitable quarter. “We see Uber as the top Internet stock in our coverage universe for Urban reopening and improving labor conditions and think multiple expansion is possible on market share gains,” BofA analyst Justin Post wrote in the report released Monday. The report noted that a higher-than-expected mobility take rate, which measures how much… Source link

Stock futures opened flat to slightly lower Monday evening after yet another record-setting session on Wall Street.  Contracts on the S&P 500 ticked down. The blue-chip index closed out an eighth straight day of gains on Monday, or its longest winning streak since 2017, to notch a fresh record high and close above the 4,700 threshold for the first time ever. Both the Dow and Nasdaq Composite also eked out record-setting gains. Equity investors rode an extended wave of optimism over solid… Source link

Elon Musk owns 23% stake in Tesla. Photo: Patrick Pleul/AFP via Getty Images Tesla (TSLA) boss Elon Musk is set to sell 10% of his stock in the company, worth $21bn (£15.6bn) following a Twitter poll he ran at the weekend. “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock,” he tweeted. “Do you support this?” 3.5 million twitter accounts voted 57.9% in favour of the move. Musk, who is the world’s richest man, launched the poll in… Source link

Kiyosaki: The U.S. stock market is headed for ‘giant crash’ followed by a new depression — here are the only 3 assets he likes as protection Expert predictions for a U.S. stock market correction are common these days. But thanks to high inflation rates, Rich Dad Poor Dad author Robert Kiyosaki is calling for something much worse. “Inflation rips off the poor. Inflation makes rich richer,” he tweeted last week. “Prepare: Giant crash then new depression.” It’s not the first time… Source link

Peloton shares crashed more than 34% to $56 on Friday after the at-home fitness player warned about slowing demand for its trademark bike and inefficiencies in its business.  One analyst is staying upbeat on the shares, despite the report being the second straight poor showing for the company. “While we are a bit cautious of this new guide after the last one, and will be watching demand, churn, costs, and liquidity closely, we think tonight’s share price is not reflective of what Peloton… Source link

Stock futures rose Friday morning as traders eyed the Labor Department’s October jobs report, which showed a better-than-expected pick-up in payroll growth and another improvement in the unemployment rate.  Contracts on the S&P 500 advanced. A day earlier, the blue-chip index rallied to a record high, logging a sixth straight record close as technology stocks advanced. The Nasdaq also jumped amid the broad move higher in tech shares, while the Dow closed lower for the first time in six… Source link

UPDATED: Shares of Penn National Gaming fell more than 20% Thursday, after the publication of an article in which several women alleged that they had “violent and humiliating” sexual encounters with Dave Portnoy, president of Barstool Sports. Penn National, which operates casinos, racetracks and online sports betting, owns a significant equity stake in Barstool. The drop in Penn National’s stock price also came after the company missed Q3 earnings expectations. Revenue climbed 34%, to… Source link

Stock futures opened little changed Wednesday evening to hold near record highs, with investors contemplating the the Federal Reserve’s decision to begin paring back some of its monetary policy support as the economic recovery progresses further. Earlier during the regular session, each of the S&P 500, Dow and Nasdaq set record intraday and closing highs yet again, with the Fed’s latest monetary policy decision compounding with optimism over a slew of stronger-than-expected quarterly… Source link

When a stock explodes 108% in a session — rather out of the blue — as Avis did on Wednesday, there is only one thing you should do, says Deutsche Bank analyst Chris Woronka. Drive out of dodge before you get run over.  “Our first order of business is to emphasize that this downgrade is not a call to short Avis. Simply put, it is a view that investors who owned the stock prior to Tuesday should take profits. We simply cannot justify, using any reasonable traditional valuation metric, the… Source link

Stock futures opened near the flat line Tuesday evening as investors awaited a key monetary policy decision from the Federal Reserve. Contracts on the S&P 500 traded sideways. The blue-chip index had set a record closing high for a fourth straight session earlier in the day while the Dow closed above 36,000 for the first time ever, buoyed by an extended run of better-than-expected corporate earnings results.  Some of the closely watched names that reported results after market close continued… Source link