Trading Ideas
Casper ends first trading day up nearly 13%, jumping over lowered bar of expectations
Casper became the latest startup to tap the public market with big dreams, but no profits. …read more […]
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Business News
Intercontinental Exchange abandons deal talks with eBay
New York Stock Exchange owner Intercontinental Exchange Inc (ICE) said it had decided to stop exploring deal options with eBay Inc , just hours after its chief executive said he would “love” to speak with the e-commerce company.
Business News
Hedge fund Elliott Management builds stake in SoftBank: sources
Hedge fund Elliott Management Corp, one of the world’s most powerful activist investors, has amassed a nearly $3 billion stake in SoftBank Group Corp and is pushing for changes to boost the Japanese conglomerate’s value, people familiar with the matter said on Thursday.
Business News
Uber sees profit by end of 2020, ahead of previous target
Uber Technologies Inc on Thursday moved forward by a year its target to achieve profitability on an adjusted basis to the fourth quarter of 2020, sending its shares up 5% in after-hours trading.
Trading Ideas
Aurora Cannabis CEO Departs, 500 Jobs Cut, Credit Line Reduced
(Bloomberg) — Aurora Cannabis Inc., struggling with a cash crunch and a slumping stock price, announced the departure of its CEO, the termination of about 500 employees and a significant reduction in its credit facility.Chief Executive Officer Terry Booth, who founded the Canadian pot company in 2013, will retire but will remain a director on the board, the company said Thursday in a statement. He’ll be replaced on an interim basis by Executive Chairman Michael Singer.“I look forward to serving as interim CEO and executing on our short-term plans, which include a rationalization of our cost structure, reduced capital spending …read more […]
Business News
Aurora Cannabis CEO steps down, company cuts 500 jobs
Aurora Cannabis co-founder and Chief Executive Terry Booth will retire and step down from the marijuana producer, with Executive Chairman Michael Singer becoming interim CEO, the company said in a statement on Thursday.
Business News
Fed includes ‘heightened stress’ in leveraged loans in 2020 bank stress tests
Large banks with significant trading operations will have their finances tested in 2020 against a scenario that includes “heightened stress” in leveraged loans, the Federal Reserve announced on Thursday.
Business News
On shareholder vote reforms, BlackRock sits on the fence
BlackRock Inc declined to back or reject a regulatory proposal to reform the shareholder resolution process in a long-awaited letter distributed on Thursday, seeking instead a middle ground on a hotly contested, politicized issue.
Business News
Toyota to make more pickup trucks at Mexican plant in shift from U.S.
Toyota Motor Corp will ramp up production at its new Mexican plant to 100,000 vehicles a year by 2021 in a major step to shift production of its popular mid-size Tacoma pickup truck to Mexico from the United States, the company said on Thursday.
Trading Ideas
EBay Wasn’t Interested in a Deal With NYSE’s Owner, CEO Says
(Bloomberg) — Intercontinental Exchange Inc. Chief Executive Officer Jeff Sprecher spent almost 40 minutes explaining why the firm was interested in a tie-up with EBay Inc. Investors weren’t persuaded. Late Thursday, the owner of the New York Stock Exchange said it’s giving up the pursuit.“Based on investor conversations following today’s ICE earnings call, ICE has decided to cease exploring strategic opportunities with EBay,” the exchange operator said in a statement.EBay “was not interested” in a deal, Sprecher had told analysts on ICE’s earnings call earlier in the day. “Curiosity, and the fact that we know people there, led us to …read more […]
Trading Ideas
Bristol-Myers Squibb Smashes Earnings Predictions Following Celgene Acquisition
2019 marked a pivotal turning point for the pharmaceutical giant Continue reading… …read more […]
Business News
T-Mobile beats quarterly estimates as Sprint merger decision looms
T-Mobile US Inc beat analysts’ estimates for quarterly revenue and profit on Thursday, as the wireless carrier added more mobile phone subscribers to its monthly plans, some of which come bundled with a Netflix Inc service.
Business News
Global automaker supplies threatened by China coronavirus crisis
The threat from the coronavirus crisis closed in on the global auto industry on Thursday, as Fiat Chrysler Automobiles NV warned that a European plant could shut down within two to four weeks if Chinese parts suppliers cannot get back to work.
Trading Ideas
Red Flags Emerge in U.S. Stocks With Insiders Rushing to Sell
(Bloomberg) — The list of warning signs for the rally that pushed U.S. stocks to another record is growing longer.As the S&P 500 Index embarked on a torrid four-day advance, corporate executives and officers have stepped up selling shares in their own companies — so much so that there were five insider sales for every one buy, according to data compiled by Washington Service. That’s poised to be the highest since early 2017.Insiders have been stepping up the pace of sales all year, taking advantage of the S&P 500’s 12% rally since the end of September that pushed valuations toward …read more […]
Business News
Uber increases quarterly revenue but food delivery costs eat profit
Uber Technologies Inc drew more customers to its ride-hailing and food delivery business in a boost to its fourth-quarter revenue, but high costs at Uber Eats meant Uber continues to lose money as it tries to outspend competitors.