Articles by admin

A Quicken Loans IPO was confidentially filed with the SEC. With over 35 years of experience, the company is the top mortgage lender in the country. But is Quicken Loans stock a good investment?
Here’s what we know…
Quicken Loans IPO: The Business

Billionaire Dan Gilbert co-founded Quicken Loans in 1985 with Ron Berman, Lindsay Gross and brother Gary Gilbert. The company’s original name was Rock Financial, later Rock Financial Corp in 1987. About a decade later, Gilbert took Rock Financial public in an IPO. And in 1999, Intuit Inc. bought the company for $523 million. Intuit renamed it Quicken Loans. Gilbert and …read more […]

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(Bloomberg) — Some of Wirecard AG’s most-loyal shareholders have sold their stakes as allegations of accounting impropriety engulf the German payments company.Alexander Darwall, who has held Wirecard shares since at least 2010, instructed his investment firm to sell all of its holdings, while Alken Asset Management, which has owned the stock since 2008, did the same. DWS Group, which had built a Wirecard position that reached about 1 billion euros ($1.1 billion) across several funds by the end of October, has also cut its exposure.Wirecard’s Chief Executive Officer Markus Braun resigned with immediate effect on Friday, after two Asian banks …read more […]

Shark Tank’s Barbara Corcoran says she wouldn’t put her money in the hot new electric truck company Nikola. …read more […]

The 15 Percent Pledge focuses on a tangible goal — getting big box stores to commit to dedicating 15% of its shelf space to black-owned businesses. The problem is getting black entrepreneurs to the level of scalability. …read more […]

(Bloomberg) — The meltdown at Wirecard AG is raising questions about the company’s complicated relationship with the troubled SoftBank Group Corp.The Japanese conglomerate signed a strategic cooperation agreement with the payments firm last year and agreed to buy $1 billion of Wirecard convertible bonds, although that exposure was later cut through a complex transaction. This month, a partner at SoftBank’s investment arm was on track to become a supervisory board member at Wirecard.Then on Thursday, Wirecard revealed that auditors had been unable to find about 1.9 billion euros ($2.1 billion) in cash that was supposed to be held in Asian …read more […]

Top news and what to watch in the markets on Friday, June 19, 2020. …read more […]

Spotify Technology SA (NYSE: SPOT) jumped over 7% on Thursday. The music technology stock climbed from an open price of $209.79 to a closing price of $225.28.
Before dropping down to its closing price, shares of the stock were up 12% during intraday trading. This was a new intraday high for Spotify stock.
But what made the stock jump and is it a worthy longer term investment? Let’s take a closer look at Spotify stock and see if we can answer those questions.

Why Spotify Stock Surged Yesterday
In short, the music and podcasting technology company jumped yesterday because it inked a new deal …read more […]

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(Bloomberg) — Wirecard AG shares continued their free-fall after the two Asian banks that were supposed to be holding 1.9 billion euros ($2.1 billion) of missing cash denied any business relationship with the German payments company.Wirecard now faces a potential cash crunch. The company warned Thursday that loans up to 2 billion euros could be terminated if its audited annual report was not published on Friday. Analysts at Morgan Stanley estimated that Wirecard has available cash of around 220 million euros, if it cannot locate the missing $2.1 billion.BDO Unibank Inc., the Philippines’ largest bank by assets, and the Bank …read more […]

(Bloomberg) — Wirecard AG shares continued their free-fall after the two Asian banks that were supposed to be holding 1.9 billion euros ($2.1 billion) of missing cash denied any business relationship with the German payments company.Wirecard now faces a potential cash crunch. The company warned Thursday that loans up to 2 billion euros could be terminated if its audited annual report was not published on Friday. Analysts at Morgan Stanley estimated that Wirecard has available cash of around 220 million euros, if it cannot locate the missing $2.1 billion.BDO Unibank Inc., the Philippines’ largest bank by assets, and the Bank …read more […]

Marathon Petroleum (MPC) is again engaging in discussions with potential buyers for a sale of its gas station Speedway unit, according to a report from the Wall Street Journal. Shares in MPC rose 6% in Thursday’s after-hour trading.Canada’s Alimentation Couche-Tard was one of the buyers reportedly interested in a deal, although no valuation was provided.The news follows a pre-Covid 19 Bloomberg report that MPC was working on a $22 billion sale of Speedway to Japan’s Seven & I, which fell apart during the crisis.MPC is still targeting a spinoff of Speedway for 1Q21. The US’s largest refiner was previously looking …read more […]

Oil prices rose around 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well. U.S. West Texas Intermediate (WTI) crude futures climbed 38 cents, or 1%, to $39.22 a barrel. If the laggard producers do compensate over the next three months for their overproduction, that will effectively take extra barrels out of the market, even if OPEC+ does not extend its record 9.7 million barrels per day supply cut beyond July. …read more […]

(Bloomberg) — Stocks headed for a weekly advance, recovering after second-wave infection fears spooked investors last week, while the dollar retained most of its gains from the risk-off episode.U.S. and European futures drifted Friday ahead of a welter of options expiries on Wall Street. Asia’s benchmarks saw a mixed performance in thin trading in many locations. Treasuries were flat while crude oil rose, with West Texas Intermediate climbing past $39 a barrel. Investors continue to weigh a resurgence in some virus hotspots that may derail an economic recovery against record stimulus measures to help stave off the worst of the …read more […]

Asian shares and U.S. stock futures teetered in choppy trade on Friday as lingering concerns about an fresh spike in coronavirus cases offset growing hopes for a quick economic recovery. Oil futures rose in Asia on hopes that output cuts will put a floor under prices. On the whole, markets have been sideswiped this week on fresh contagion concerns, prompting some investors to temper their optimism about how quickly the global economy can recover for the pandemic. …read more […]