Year: 2020

Rocket Companies Inc. (NYSE:RKT), a mortgage company run by billionaire Dan Gilbert and best known for its subsidiary Quicken Loans, has released terms for its upcoming IPO. The company will sell 150 million shares with the possibility of selling an additional 22.5 million more at a maximum price of $22, and will thus raise up to nearly […] …read more […]

With a price-to-earnings (or “P/E”) ratio of 31x United Parcel Service, Inc. (NYSE:UPS) may be sending very bearish… …read more […]

Out on Wall Street, where has focus landed? Squarely on growth. Specifically, investors want to know just how high stocks can climb. Plummeting to a low point in March, the market has bounced back incredibly, with the S&P 500 up 50% since then. Given this remarkable rebound, is there more fuel left in the tank? Or has the market surged enough for now? Analysts tell investors there’s still plenty of room for growth, with a few names positioning themselves for a serious boost to the upside. We aren’t messing around here. These are stocks that have already posted substantial …read more […]

Polestar, the one-time performance brand of Volvo that’s now branched out on its own as a fully-fledged automaker, took a big step forward in its mission to be a real player in the EV space. …read more […]

The space “from a small community of space enthusiasts to leadership by seasoned execs”, says Chad Anderson, managing partner at Space Capital. …read more […]

(Bloomberg) — Saudi Arabia’s state-controlled oil giant pressed ahead with a plan to pay $75 billion in dividends this year despite crashing profit and a surge in debt, as the kingdom battles a widening budget deficit.Saudi Aramco said net income for the three months ending in June fell to 24.6 billion riyals ($6.6 billion), down 73% from a year earlier, after crude prices collapsed. Aramco will pay a dividend of $18.75 billion for the quarter, most of it to the government, which owns around 98% of the company’s stock.Aramco’s performance and demand for energy will probably improve over the rest …read more […]

Days after a massive explosion rocked the city of Beirut, WSJ’s Dion Nissenbaum visits the blast site. Photo: Dion Nissenbaum for the Wall Street Journal …read more […]

Twitter Inc. has reportedly held preliminary talks to buy the US operations of the video-sharing app TikTok, which the Trump administration has declared a national-security threat due to its Chinese ownership.It is unclear whether Twitter (TWTR) will pursue a deal with TikTok’s Beijing-based owner ByteDance Ltd., which would face significant challenges, the Wall Street Journal reported.Microsoft Corp. (MSFT), which last Sunday said that it is prepared to continue negotiations to buy TikTok’s US operations after talking to President Trump, is considered the front-runner for any possible deal. Twitter is seen as a long-shot bidder, given that it is much smaller …read more […]

GlaxoSmithKline plc (LON:GSK) stock is about to trade ex-dividend in three days. This means that investors who… …read more […]

Amarin announced on Friday that Kaiser Permanente Northern California (KPNC) is initiating a trial to study the potential of its lead product Vascepa to be used as a treatment to prevent or reduce the risk of complications from viral respiratory illnesses such as COVID-19 in older adults with heart disease.Biotech Amarin (AMRN) said that that the MITIGATE COVID-19 study, will test the effects of Vascepa on viral upper respiratory infection (URI) rates and clinical outcomes, especially involving acute respiratory SARS-CoV-2 infection, in adults with atherosclerotic cardiovascular disease (ASCVD) who are at elevated risk of experiencing moderate to severe COVID-19.The trial …read more […]

Shares of FedEx rose 6.6% on Friday after the courier company announced an increase in surcharge on international deliveries across certain destinations.An unprecedented surge in delivery volumes amid the COVID-19 pandemic has allowed FedEx (FDX) to raise its rates. Meanwhile, the revised surcharges are expected to mitigate the impact of higher costs that resulted from restrictions imposed by countries to contain the spread of the coronavirus pandemicOn August 6, FedEx said it will double the per kilo surcharge on parcels from Hong Kong to the US effective from August 10. It will also increase the surcharge on parcels from Taiwan …read more […]

“Assuming a deal was announced before the September 15th deadline that closed on December 31st, and Microsoft acquired the U.S. business only, which illustratively could grow from $500 million in 2020 to $3 billion in 2021 (500%), TikTok could add 2% inorganic growth to Microsoft’s model in CY21e,” said Keith Weiss, equity analyst at Morgan Stanley. …read more […]

Gold traders experienced the biggest daily drop of the yellow metal in two months on Friday, falling 2% as the U.S dollar regained an upward move on a better-than-expected recovery in U.S. jobs report released recently. …read more […]

(Bloomberg Opinion) — For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand.Weekly U.S. oil inventory data — usually published on a Wednesday and covering the period up to the previous Friday — is routinely pored over by oil analysts and traders alike. Despite their shortcomings, the figures give the most up-to-date picture of changes in the oil balance and influence trading decisions and crude prices around …read more […]

Earlier this week, senior Democratic lawmakers asked federal regulators to investigate securities transactions made by the company and its executives around the time it learned it could receive the government loan. “Recent allegations of wrongdoing raise serious concerns,” DFC said late on Friday in a tweet. …read more […]