Month: February 2020

(Bloomberg) — Lyft Inc. quarterly results and guidance for 2020 disappointed investors who punished the ride-hailing company for not promising profits sooner. The shares dropped more than 5% in extended trading.Lyft’s results came a few days after larger rival Uber Technologies Inc. reported quarterly numbers that blew past analysts’ expectations and announced that it was moving up its target for profitability. The news sent Uber’s stock price soaring.Lyft didn’t provide updated guidance on turning a profit. Late last year, the company said it would be profitable on an adjusted basis by the fourth quarter of 2021. The stock slipped to …read more […]

(Bloomberg) — Masayoshi Son is finally getting some good news.After a punishing year, the founder of SoftBank Group Corp. won approval for the sale of his Sprint Corp. to T-Mobile US Inc., a long-delayed acquisition that had been fiercely opposed by states including New York and California. The deal would extract the Japanese billionaire from the cash-draining U.S. wireless business and remove about $40 billion in net debt from his balance sheet. Sprint shares rose 78% in U.S. trading Tuesday after a federal court approved the deal, while SoftBank’s stock surged as much as 13% in Tokyo.Son has been struggling …read more […]

SoftBank Group Corp shares opened 12.5% higher on Wednesday morning after a federal judge approved the takeover of its U.S. wireless unit Sprint Corp by T-Mobile US Inc. A deal would allow SoftBank, which reports its earnings on Wednesday, to offload a troubled asset when its other tech bets are facing investor scepticism and it is struggling to raise funds for a successor to its $100 billion Vision Fund. One of SoftBank founder Masayoshi Son’s big overseas bets, Sprint has weighed down the group as it struggles to compete with bigger rivals. …read more […]

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Tesla is riding a record high, but some of its investors decided to make a surprising move: opting to sell just as the price climbed near $1,000 a share.Last week, after experiencing a surge throughout January, the electric car company founded by Elon Musk saw its stock rise to $968.99. The result of two consecutive quarters of healthy profit, it was also encouraged by what experts believe to be large amounts of short covering tied to strong revenue and the opening of the company’s new China factory, according to Yahoo! Finance.”What we saw as Tesla hit all-time highs [last week]—as …read more […]

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(Bloomberg) — Bed Bath & Beyond Inc. fell sharply after reporting that a key measure of sales contracted in December and January, the latest sign the home-furnishings retailer faces a tough road back to growth.“We are experiencing short-term pain in our efforts to stabilize the business, including the pressures of store traffic trends,” Chief Executive Officer Mark Tritton said in a statement.Comparable-store sales, an important gauge of retail success, fell 5.4% in the most recent months, the company said. It attributed this to lower store traffic and “inventory management issues.”The stock plunged as much as 17% to $12.30 in late …read more […]

Guru cuts holding in off-price retailer by 99.16% Continue reading… …read more […]