Year: 2020

It’s been a mediocre week for DocuSign, Inc. (NASDAQ:DOCU) shareholders, with the stock dropping 20% to US$216 in the… …read more […]

The U.S. stock market’s two-day tech-led fall last week has revived investor worries about a spiral of selling that could crash the broader market, but Rick Rieder, head of the BlackRock Global Allocation team, does not see stocks going off a cliff. Indeed, the $23.2 billion BlackRock Global Allocation Fund that Rieder runs currently has options trades that would benefit from a rebound in stocks. “I think the market is going to keep going higher,” Rieder, said in a Reuters interview. …read more […]

Top news and what to watch in the markets on Tuesday, September 8, 2020. …read more […]

As government and private money pour into the global race for a Covid-19 vaccine, drugmakers are under great pressure to keep the shot affordable while also keeping investors happy. WSJ explains what this means for the final price tag of the jabs. Illustration: Crystal Tai …read more […]

The postal service has faced extra costs to cope with coronavirus and says it needs to modernise. …read more […]

(Bloomberg) — Tesla Inc. shares slumped in U.S. pre-market trading on Tuesday after the electric-vehicle maker missed out on being included in the S&P 500 Index, taking investors who had bet on its entry to the benchmark by surprise.Tesla shares fell about 10% pre-market in the first day of trading since Friday’s news. Instead of Elon Musk’s Tesla, S&P Dow Jones Indices added online retailer Etsy Inc., chip gear maker Teradyne Inc. and medical technology firm Catalent Inc.Tesla not being included likely reflects the challenges in adding a firm of that size to the index, Credit Suisse analyst Dan Levy …read more […]

Sep.08 — Former Latvian Prime Minister Valdis Dombrovskis discusses his priorities after being announced as the EU’s new trade chief, succeeding Phil Hogan who resigned last month. He speaks on “Bloomberg Surveillance” in an interview with Maria Tadeo at the Brussels Economic Forum. …read more […]

(Bloomberg) — European stocks dropped after President Donald Trump stoked tensions with China and virus cases across Germany and the U.K. continued to rise. Treasury yields fell and oil dropped to a two-month low.Technology shares led losses in the Europe Stoxx 600 Index, while the FTSE 100 Index was buoyed by the weaker pound. EasyJet Plc shares slumped after the discount airline said flight demand is lower than expected. The dollar index and gold were little changed.U.S. futures pointed to a weaker open after the long holiday weekend. S&P 500 contracts were little changed, while contracts on the Nasdaq 100 …read more […]

Sep.08 — The lack of clarity on who the next U.S. president will be and the possibility that the loser of November’s election will contest the result is “dollar negative,” according to Eimear Daly, FX strategist at Macquarie. She speaks on “Bloomberg Markets: European Open.” …read more […]

(Bloomberg) — Oil extended losses after closing at the lowest level since June amid a worsening short-term demand outlook and a further deterioration in the relationship between the world’s two biggest economies.Futures in London traded near $42 a barrel after dropping 1.5% on Monday. Only four of 10 Asian refiners surveyed by Bloomberg said they would be trying to buy more Saudi Arabian crude after the kingdom cut pricing for October as consumption remained below pre-virus levels. The tepid response is a sign of the sluggish demand backdrop in the world’s biggest oil-consuming region.President Donald Trump said that he intends …read more […]

Sep.08 — Polish Prime Minister Mateusz Morawiecki says Germany faces a ‘no brainer’ decision to halt the Nord Stream 2 gas pipeline, which he calls a political project with a destabilizing effect on eastern Europe. Morawiecki also comments on the Polish economy and the zloty. He spoke with Bloomberg’s Wojciech Moskwa in Warsaw. …read more […]

Popular athleisure retailer Lululemon (LULU) is gearing up to release its earning results today after market close.Ahead of this key report, RBC Capital analyst Kate Fitzsimons has reiterated her LULU buy rating, while bumping up the price target from $348 to $435.She cited the company’s recent acquisition of fitness hardware startup Mirror for $500 million, which closed in July, writing: “While expensive, we believe rightly so given LULU’s sweet spot of category momentum, customer loyalty, and an expanding TAM [total addressable market] now inclusive of MIRROR.”Into the print, the analyst raised her 2Q EPS estimates on LULU to $0.57, based …read more […]

(Bloomberg) — As the debate rages as to who has had the most impact on option markets — retail traders or institutions — what’s becoming clear is the sheer size of the wagers of the professionals.RBC Capital Markets strategist Amy Wu Silverman noted bullish bets in a handful of technology companies in August as having all the hallmarks of a big institutional trade — with “a staggering $1 billion-plus in premium spent.” Henry Schwartz at Trade Alert LLC cited trades with about $1.4 billion in premiums spent last month.For both strategists, the most likely institutional trades were placed on Aug. …read more […]

(Bloomberg) — As the debate rages as to who has had the most impact on option markets — retail traders or institutions — what’s becoming clear is the sheer size of the wagers of the professionals.RBC Capital Markets strategist Amy Wu Silverman noted bullish bets in a handful of technology companies in August as having all the hallmarks of a big institutional trade — with “a staggering $1 billion-plus in premium spent.” Henry Schwartz at Trade Alert LLC cited trades with about $1.4 billion in premiums spent last month.For both strategists, the most likely institutional trades were placed on Aug. …read more […]

(Bloomberg) — It was the hottest IPO in town. Now Nongfu Spring Co.’s stock surge is turning its founder into China’s second-richest person.Shares of the bottled-water maker jumped as much as 85% and traded up 55% by the midday break in Hong Kong. The debut is on pace to become the city’s fourth best on record among firms that raised more than $1 billion.The surge is pushing the net worth of Zhong Shanshan, who owns 84% of the firm he founded in 1996, to more than $51 billion, according to the Bloomberg Billionaires Index. He’s now the wealthiest person in …read more […]