Year: 2020

(Bloomberg) — China’s move to halt Ant Group Co.’s massive stock debut could reduce the fintech giant’s value by as much as $140 billion, according to analysts’ revised estimates.New regulations that could force Ant to raise more capital to back lending and seek national licenses to operate across the country may reduce the firm’s valuation by about half, according to estimates from Morningstar Inc. and other firms. The regulatory details are preliminary and could be subject to change.If Ant’s $280 billion pre-IPO valuation is halved, it would essentially mean the company is worth less than what it was two years …read more […]

Nov.08 — Riot police in Bangkok used water cannons to disperse anti-government protesters as they tried to approach the royal palace to submit their demands directly to the king. Bloomberg’s Randy Thanthong-Knight reports on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Oil rose toward $38 a barrel and gold climbed for a third day as President-elect Joe Biden prepared to transition into the White House even as Donald Trump rejected the outcome of the U.S. election.Crude futures in New York increased 2.2% and spot gold added 0.1% amid a broader gain in Asian stocks. The dollar was marginally lower. While Biden declared victory and prepared to navigate America’s pandemic-hit economy out of the crisis, the unresolved status of Senate control may dampen prospects for a major stimulus package before January. Meanwhile, Trump’s campaign team mounted lawsuits in key states …read more […]

Nov.08 — Josh Blackman, professor at South Texas College of Law, discusses President Donald Trump’s lawsuits to contest the election outcome, the prospects for the congress and the judiciary system, and the challenges President-elect Joe Biden faces. Blackman speaks with Shery Ahn and Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.” …read more […]

(Bloomberg) — Palantir Technologies Inc. is in talks with the U.K. government to provide support for contact tracing of Covid-19 cases, according to people familiar with the discussions. Technology from the newly public data-mining company could augment the contact tracing system already in use in the U.K., which has run into problems.No contract has been finalized with the government and the U.S.-based company, and any deal would represent an extension of work the company already does for the U.K. in battling the virus, according to the people, who asked not to be identified discussing private information.The Financial Times earlier reported …read more […]

…read more […]

(Bloomberg) — U.S. stock futures climbed with Asian equities Monday in a continuation of last week’s risk-on pattern after Joe Biden was declared the winner of the presidential race on Saturday. The dollar extended declines.S&P 500 futures were up about 1% in early trading, building on the strongest week since April for the benchmark, as the president-elect prepared to launch his transition effort. Stocks rose in Japan, Australia and South Korea. The yuan and euro ticked higher alongside the Australian and New Zealand dollars. Treasuries slipped.Biden, in his victory speech over the weekend, promised swift action against the pandemic and …read more […]

Stock futures opened higher Sunday evening as traders took in President-elect Joe Biden’s victory in the U.S. presidential election, ending a days-long nail-biter over which candidate would prevail in winning the White House. …read more […]

Every week, Benzinga conducts a sentiment survey to understand what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.We recently surveyed a group of over 250 traders and investors on whether shares of Apple Inc. (NASDAQ: AAPL) or Microsoft Corp. (NASDAQ: MSFT) stock would grow the most by 2025.Apple Vs. Microsoft Stock Over the next five years, which stock will have the largest percentage gain? * Apple * Microsoft62.5% of traders and investors believe shares of Apple will grow the most by 2025. The future is now for Apple’s …read more […]

Peter Simmie’s Bristol Gate Capital Partners is a Toronto, Canada-based hedge fund that invests primarily in dividend stocks. Bristol Gate uses both machine learning and fundamental analysis tools to uncover stocks with strong dividend growth prospects. The firm, which was founded in 2006 by Mr. Simmie, who currently serves as its Chief Investment Officer, believes […] …read more […]

Alex Trebek, the Canadian-American host who led the long-running syndicated game show “Jeopardy!,” died Sunday morning, the show said in a statement on social media. He was 80 years old. Photo: Amanda Edwards/Getty Images …read more […]

Pfizer Inc. (NYSE: PFE) has disclosed in its earnings report that it received an official request for information from the US Securities and Exchange Commission, according to The Wall Street Journal.What Happened: The pharmaceutical company received formal requests regarding its operations in China and Russia from the SEC’s foreign-bribery unit and the U.S. Justice Department in August and June. The inquiries were sent from the agencies’ Foreign Corrupt Practices Act units. Foreign corrupt units monitor possible illegal relations between companies and local authorities.Pfizer also revealed it had received similar requests the year before.Why It Matters: The pharmaceutical industry has …read more […]

The election may be over, but 2020’s market volatility may not be done. …read more […]

* This weekend’s Barron’s examines how Biden won an extraordinary election and what a Biden administration could mean. * Other featured articles discuss how to position a portfolio for political gridlock, the outlook for big tech and dividends that are being resumed. * Also, the prospects for a private equity firm, a leading biotech, timeshare companies and more.In this week’s Barron’s, Avi Salzman points to the positives of a divided government in his article “Biden Wins the Most Extraordinary Election of Our Time. What’s Next.” He says the division can bring about a measured pace of change, which …read more […]

…read more […]