Year: 2020

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Shares of Cloudflare Inc. jumped 10.8% in extended trading after the cybersecurity company reported robust 3Q results and forecast 4Q sales and earnings above consensus estimates.The company’s 3Q revenue of $114.2 million came ahead of the Street estimate of 103.2 million and soared 54% from the year-ago quarter. Cloudfare posted 3Q losses of $0.02 per share, better than analysts’ loss estimates of $0.05. Moreover, it compared favorably to the year-ago period’s loss of $0.16.Cloudflare’s (NET) CEO Matthew Prince said “Our third quarter represented many significant milestones including surpassing $100M in revenue, crossing 100,000 paying customers, and releasing more than a …read more […]

Alibaba Group Holding Limited (NYSE: BABA)-backed Ant Group’s initial public offering and dual listing in Hong Kong and Shanghai could be delayed by at least six months, the Financial Times reported Thursday.What Happened: On Tuesday, the listing, which would have raised $37 billion, was suspended by the Shanghai Stock Exchange after Chinese regulators announced draft regulations that could force Ant Group to rework its business model. A person familiar with the matter described “these new regulation changes” to FT as a key factor for Ant.Lawyers associated with the listing reportedly said that the Jack Ma-co-founded fintech firm would have to …read more […]

(Bloomberg) — U.S. stock index futures slipped as investors monitored a tight race to determine who will be the next American president.December contracts on the S&P 500 fell 0.6% at 1:25 p.m. in Tokyo. Futures declined 0.4% on the Dow Jones Industrial Average and slid 1% on the Nasdaq 100 Index. Democrat Joe Biden strengthened his hold on the race for the White House, steadily chipping away at Donald Trump’s early lead in a pair of crucial swing states. Trump questioned the credibility of the election.“We had President Donald Trump speaking this morning, bringing back some reminders of the political …read more […]

(Bloomberg) — A global equity rally showed signs of stalling on Friday, with Nasdaq futures unwinding some of this week’s surge amid the ongoing U.S. election count. The dollar edged up from its lowest in more than two years.U.S. and European stock futures retreated, while a gauge of Asia-Pacific shares edged higher. The S&P 500 climbed almost 2% Thursday and is headed for its best week since April. The tech-heavy Nasdaq 100 is up over 9% this week.Gold and crude oil declined and Treasuries were little changed. The yen steadied after rising past the closely watched 104 per dollar level. …read more […]

Bollinger Motors Founder & CEO Robert Bollinger joins Yahoo Finance’s Pras Subramanian to break down the company’s upcoming electric vehicles, the EV space, and whether a SPAC IPO is in the cards. …read more […]

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Tesla Inc (NASDAQ: TSLA) has added Tequila as a merchandise offering on its online store. The electric vehicle maker is taking orders for company-branded Tequila in select states in the United States.What Happened: The Tesla version of distilled ardent spirits comes in a thunderbolt-shaped 750 ml bottle.At $250 per bottle, it is certainly not a cheap indulgence, and each customer is limited to just two bottles of the tequila, which, the automaker claims, has a “dry fruit and light vanilla nose with a balanced cinnamon pepper finish.”Shipping is included in the price and deliveries are expected to begin in late …read more […]

Electronic Arts Inc (NASDAQ: EA) shares tanked in the after-hours session Thursday as the company missed analyst estimates for the second quarter of the fiscal year 2021 even as it beat management guidance. EA’s decision to start paying quarterly dividend amid weak earnings also didn’t sit well with the market, Barron’s noted earlier.What Happened: In the first five minutes of the after-hour session, the stock price shed 9% and dropped to $118 a share. EA quarterly net revenues dropped 15% year-over-year at $1.15 billion while the $0.63 diluted earnings per share for the quarter was 78% lower YoY.Revenues from …read more […]

“The SFO is investigating Bombardier Inc over suspected bribery and corruption in relation to contracts and/or orders from Garuda Indonesia,” the agency said on Thursday. “As this is a live investigation, the SFO can provide no further comment,” it added. …read more […]

U.S. oil fell nearly 2% on Friday as new lockdowns in Europe to contain the spread of the coronavirus disease raised questions about the outlook for crude demand, while markets remained on edge over the drawn-out vote counting in the U.S. election. West Texas Intermediate was down 73 cents, or 1.9%, at $38.06 a barrel at 0232 GMT, after dropping 0.9% on Thursday. Italy recorded its highest daily number infections on Thursday and cases surged at least 120,276 in the United States, the second consecutive daily record as the outbreak spreads across the country. …read more […]

(Bloomberg) — Square Inc.’s quarterly sales more than doubled, underscoring a surge in demand for Bitcoin trades, stock purchases and other financial transactions by customers cooped up during the global pandemic. The stock rose 5% in after-hours trading.Revenue leaped 140% to $3.03 billion, far surpassing the $2.05 billion average analyst estimate, according to data compiled by Bloomberg.The San Francisco-based payments company pointed to growth for its peer-to-peer payments app, Cash App, as one of the strong points of its business. The app, which lets users send money to friends, buy stocks and store money like a bank account, generated $2.07 …read more […]

The Foreign Corrupt Practices Act units of the Justice Department and the U.S. SEC had sought documents relating to its Chinese operations, the company said in its filing, adding that it is producing records pursuant to these requests. In 2012, the drugmaker had agreed to pay $26.3 million to the top U.S. securities regulator as part of a settlement with the U.S. government following a probe into its use of illegal payments to win business overseas including Russia, Bulgaria, China, and Italy. …read more […]

Hedge fund legend David Einhorn thinks he just received the “clinching sign” that the top of a tech-heavy bubble is here…
That sign was a job application from someone looking to join his Greenlight Capital hedge fund.
As Einhorn explained in his third quarter letter to Greenlight’s investors, the job application came in an email with the subject line, “I am young, but good at investments…”
It was sent by a 13-year-old boy who claimed to have quadrupled his money since February.
I recently told you how Joe Kennedy avoided the 1929 stock market crash after receiving a stock tip from a shoeshine boy.
Kennedy …read more […]

Stock futures opened roughly unchanged after rallying for a fourth straight day earlier on Thursday, as investors continued to await election results in key states. …read more […]