Year: 2020

(Bloomberg Opinion) — For at least two years, I’ve been calling out Xiaomi Corp. for pretending be an internet player when it really just makes smartphones. It took a global pandemic and economic meltdown for the Chinese company to finally realize its vision, sort of.A heady startup valuation and an initial public offering in 2018 were predicated on the idea that Xiaomi’s ecosystem of devices, sold at minimal profit, would drive demand for a more lucrative array of internet services, such as games and advertising. This didn’t bear fruit. Smartphones consistently contribute more than half the company’s revenue, while gross …read more […]

The United States Food and Drug Administration granted emergency use authorization to a 15-minute COVID-19 test produced by Abbott Laboratories (NYSE: ABT) on Wednesday.What Happened:The BinaxNOW COVID-19 test, priced at $5, is capable of delivering test results without laboratory instrumentation and comes with an accompanying smartphone app that patients can use to display their results at no cost, Abbott said in a statement.The FDA granted the EUA with a caveat that negative results of the test don’t rule out infection with SARS-COV-2 and the test should not be used as the sole basis for treatment.The drugmaker said it will start …read more […]

The latest data from an early Phase I study includes an analysis from 20 additional people detailing how the vaccine performed in older adults. The analysis looked at subjects given the 100-microgram dose being tested in the much larger Phase III trial. Moderna said the immune responses in those aged between ages 56 and 70, above age 70 and those 18 to 55-years-old were similar. …read more […]

(Bloomberg) — Chinese electric-car startup XPeng Inc. is raising about $1.5 billion in a U.S. initial public offering, expanding the size of its share sale and pricing the shares above a marketed range.The company is selling 99.7 million American depositary shares on for $15 each, based on a filing Wednesday with the U.S. Securities and Exchange Commission. The Guangzhou-based company had marketed 85 million shares for $11 to $13 apiece. The company will be valued in the offering at $10.8 billion based on the outstanding shares listed in its filings.Strong share price gains this year by Tesla Inc. and NIO …read more […]

(Bloomberg) — Trevor Milton, the founder and chairman of Nikola Corp., is giving the first 50 employees of the electric-truck startup 6 million of his own shares after making a promise when he hired them.“When I first started this company I was looking for the best employees in the world and it was a huge risk,” Milton said in a video posted on his Instagram page. “The likelihood of us ever succeeding was like next to none and luckily I found an incredible group of employees that started with me from day one.”The shares he’s handing over in the Phoenix-based …read more […]

Posted by OFX AUD – Australian Dollar The Australian dollar climbed through 72 US cents Wednesday amid broad based US dollar weakness. Having offered little to excite investors throughout the domestic session the AUD found upward momentum overnight extending through 0.72 to touch fresh weekly highs at 0.7240. Market sentiment remains positive, … Continue reading “Aussie dollar hits fresh weekly high ahead of US Central Bank commentary”The post Aussie dollar hits fresh weekly high ahead of US Central Bank commentary appeared first on . …read more […]

If you are looking for an out and out success story in 2020, look no further than fintech player Square (SQ). Since bottoming out on March 20, the stock has risen by a very impressive 303%. Along the way, the company’s outsized performance has confounded analysts’ expectations, causing model revisions while the stock has showed no signs of slowing down.The latest to give a positive tweak to their Square model is Deutsche Bank analyst Bryan Keane. The 5-star analyst reiterated a Buy rating on SQ shares, while boosting his price target from $140 to $180. What’s in it for investors? …read more […]

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Let’s begin today with a good news / bad news situation…
Bad news first.
Yesterday in The War Room, I floated the idea of playing a call spread on Salesforce (NYSE: CRM).
But then, I decided to pass on making the trade.
In retrospect, that was a terrible idea.
Salesforce reported strong earnings – and gapped up over $30 in this morning’s pre-market trading.
The call spread, which I passed on, would’ve absolutely crushed it today – maxing out to a huge overnight winner.
Grrrrrrrrrrr…
But luckily, we also have good news…
You see, in place of Salesforce, I decided to make a trade on Urban Outfitters (Nasdaq: URBN).
You’ve …read more […]

(Bloomberg) — Retail investors’ frenzy over small stocks in India has reached such extremes that shares of some companies that aren’t booking any sales, let alone profits, are going through the roof.These include Transglobe Foods Ltd., a fruit-jam maker that has skyrocketed more than 4,300% this year, and real-estate services firm Shree Precoated Steels Ltd., which has jumped over 1,300%. Both companies booked losses on no sales in the latest fiscal year.The prospect of risky investments turning sour raises concerns that any sudden withdrawals by small traders could wind up hurting the broader market as well. That’s due to the …read more […]

It was a rough start to the week for Onconova Therapeutics (ONTX) to say the least. On Monday, the company announced that in the Phase 3 INSPIRE study of rigosertib in high-risk (HR) myelodysplastic syndromes (MDS), the candidate failed to meet both primary endpoints. Patients had been randomized to receive either IV rigosertib plus best supportive of care (BSC) or physician choice (PC) of therapy with BSC, with the data indicating that overall survival in the HR-MDS population was 6.4 months for the rigosertib arm and 6.3 months for the PC arm. It didn’t help that no statistical difference was …read more […]

At the end of 2014, there were fewer than 1 million electric cars on the road.
But over the next five years, electric vehicle adoption increased by an average of 60% annually. By December 2019, there were 7.2 million electric cars in operation globally.
(Including mine! I own a Tesla and was one of the earliest voices to champion the company’s stock.)
Today, about 40% of all EVs are in China. But Europe and the U.S. are both experiencing rapid EV growth.
The car-buying public is jumping into EVs in a big way. And utilities have been able to handle the increased load to …read more […]

Smart investing involves taking the long view. As Warren Buffett has famously said, “If you’re not willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” The best way to realize gains in the stock market: get in, and stay in. Patience is a virtue, and compound interest is your friend.That said, the issues become how to find the right stock for the long-term portfolio. The information you need is all out there – but there’s a lot of it, and it’s easy to get intimidated by the flood of data. That’s where …read more […]

LIMERICK, Ireland, Aug. 26, 2020 /CNW/ – kneat. …read more […]

Investors mounted a new rally behind Netflix, with shares of the streamer jumping 11.6% on Wednesday, to close at an all-time record $547.53 per share. The new high-water mark gives Netflix a market capitalization of more than $241 billion, buoyed by renewed optimism in the company’s ability to hold on to its huge subscriber gains […] …read more […]