Month: October 2020

(Bloomberg) — Asian stocks rose and U.S. futures extended overnight gains amid optimism about progress on stimulus talks in Washington. Treasuries and the dollar retreated.Shares climbed in Japan, Hong Kong and South Korea, and fluctuated in Australia. S&P 500 contracts edged higher after House Speaker Nancy Pelosi said she remains hopeful of a deal before the election. The gauge bounced back from Monday’s selloff on Tuesday. Tech shares mostly shook off the U.S. Justice Department’s decision to sue Google for allegedly abusing its power. Netflix Inc. plunged in late trading after it missed Wall Street estimates.Elsewhere, Treasuries continued to decline, …read more […]

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Officials in California, home to Walt Disney Co’s Disneyland, on Tuesday pushed the reopening of large theme parks months down the road, drawing outrage from the industry, which predicted the loss of thousands more jobs. California Health Secretary Mark Ghaly said theme parks with a capacity of more than 15,000 visitors must wait to resume business until a county’s COVID-19 risk level drops to the lowest tier of “minimal” spread. Under California’s four-tier scheme, the lowest tier means daily cases of the coronavirus must number less than one per 100,000. …read more […]

WATERLOO, ON and BEIJING, Oct. 20, 2020 /CNW/ — BlackBerry Limited (NYSE: BB; TSX: BB) today announced that BlackBerry QNX technology will power the innovative digital cockpit in ARCFOX αT, a high-end, intelligent, electric SUV. …read more […]

Futures funding stayed flat or turned negative despite bitcoin’s rally to $12,000. …read more […]

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The mounting number of discoveries in the Guyana-Suriname oil basin is drawing in more large oil companies and could be a major boon for the economies of both countries …read more […]

(Bloomberg) — Netflix Inc. tumbled in late trading after missing Wall Street’s estimates for subscribers, renewing doubts about its ability to maintain growth as pandemic lockdowns go away and competition intensifies.The world’s largest paid streaming service added just 2.2 million new subscribers in the third quarter, well short of the 3.32 million predicted by analysts, as well as the company’s own more conservative projection. Netflix also predicted that it will sign up 6 million new subscribers this period, below the 6.54 million Wall Street estimate.Netflix added 25.9 million customers in the first half of the year, its strongest start ever. …read more […]

(Bloomberg) — Texas Instruments Inc. projected revenue for the fourth quarter that will top analysts’ estimates, indicating demand for chips used in cars and personal electronics is rebounding.Sales will be $3.41 billion to $3.69 billion and profit is expected to be $1.20 to $1.40 a share, the company said Tuesday in a statement. On average, analysts predicted profit of $1.20 a share and sales of $3.35 billion, according to data compiled by Bloomberg.Sales of chips used in vehicles have risen back to year-ago levels, helped by the reopening of auto plants in North America and Europe, Texas Instruments executives said. …read more […]

I live in Manitoba, Canada, and when fall arrives, I know that frigid winter temperatures are soon coming.
Yet I still have cause to celebrate autumn…
My favorite season is stock market earnings season.
Fortunately for me, that means my favorite season comes four times a year after each quarter end. And right now, third quarter earnings season is in full swing.
The reason I love earnings season so much is because it is where a huge percentage of all stock market returns are generated…
Earnings are the catalysts that move stock prices. A stock can move more in one day on an earnings announcement …read more […]

Stock futures rose as overnight trading kicked off Tuesday evening, extending regular-session gains as investors clung to hope that lawmakers would pass a stimulus package sometime this week. …read more […]

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COVID-19 has had ruinous consequences for many companies, but you’d be hard pressed to find any negative impact on perennial winner Advanced Micro Devices (AMD). The chip maker has swatted away the pandemic and has continued the market trouncing performance it set off on some half a decade ago.Heading into next week’s earnings (October 27, AMC), in possession of a year-to-date share gain of 78%, RBC analyst Mitch Steves pounds the table for more AMD upside.The 5-star analyst anticipates a “beat and raise” and, as such, lifts his price target from $84 to $92. This figure implies additional upside of …read more […]

eMarketer Forecasting Analyst Eric Haggstrom joins The Final Round panel to break down Netflix’s earnings, how the company is faring compared to it’s competition and if the streaming giant will raise its prices. …read more […]

Netflix shares fell after-hours on Tuesday following the release of its third-quarter results. Subscriber growth slowed for the quarter (adding just 2.2 million new members versus the 2.5 million the company had expected over the summer), although it told investors that “as the world hopefully recovers in 2021, [it] would expect that our growth will revert back to levels similar to pre-COVID.” Ines Ferre breaks down Netflix’s Q3 results on The Final Round. …read more […]