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Novogratz Earned a ‘Black Eye’ Shorting Tesla, Still Sees Bubble

January 30, 2020 admin Comments Off

(Bloomberg) — Billionaire investor Michael Novogratz says he earned a “black eye” after shorting Tesla Inc. because the surge in the share price resembles the Bitcoin bubble.“I got cocky and tried to pick the top of a bubble and I got a black eye,” Novogratz, chief executive officer of Galaxy Digital Holdings Ltd., said during a Bloomberg Television interview in Miami Beach, Florida.Novogratz said that Tesla, like Bitcoin back in 2017, is no longer a “fundamental story” and is driven now by the compelling narrative and “any bit of good news,” such as Wednesday’s stronger-than-expected quarterly results. As with Bitcoin, …read more […]

U.S. banks could invest in venture capital funds again under ‘Volcker rewrite’

January 30, 2020 admin Comments Off

U.S. banks would be able to take large stakes in venture capital funds under a proposal to ease strict bank trading and investment rules introduced following the 2007-2009 global financial crisis, regulators said on Thursday.

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Apple upgrades its Maps app in bid to steal market share from Google

January 30, 2020 admin Comments Off

Apple has rolled out a major update to its Maps app to users across the U.S. …read more […]

Wall St. falls on China virus concerns, Facebook earnings

January 30, 2020 admin Comments Off

U.S. stocks fell on Thursday as the coronavirus epidemic raised fears of a further hit to China’s economy, while weak earnings from Facebook and others added to the gloom.

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First known person-to-person spread of coronavirus in U.S. confirmed: CDC

January 30, 2020 admin Comments Off

CDC has confirmed the first known case of person-to-person spread of new coronavirus in U.S. Yahoo Finance’s Adam Shapiro reports. …read more […]

Companies Trump said would create thousands of jobs have failed to deliver

January 30, 2020 admin Comments Off

In his first address to the U.S. Congress, President Donald Trump hailed General Motors Co, Harley-Davidson Inc, Intel Corp and seven other companies as innovators and job creators, predicting they would be among those producing “tens of thousands of new American jobs” and investing “billions and billions of dollars.”

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Facebook's stock tanked after earnings — analysts weigh in on why

January 30, 2020 admin Comments Off

Overall, Facebook met or exceeded expectations across all of the important metrics. So then, why were investors punishing the company’s stock? …read more […]

Southwest pilots flew millions with unconfirmed maintenance records: WSJ

January 30, 2020 admin Comments Off

Southwest Airlines is under pressure after a recent government report to be released in the coming days says the airline flew more than 17 million passengers on planes with unconfirmed maintenance records over the course of two years, according to the Wall Street Journal. Yahoo Finance’s Alexis Keenan joins the On the Move panel to discuss. …read more […]

Why it's a mistake for investors to compare the coronavirus to SARS: Economist

January 30, 2020 admin Comments Off

Investors looking to the 2002 to 2003 SARS outbreak as precedent for how global markets and the economy will perform during the current coronavirus developments will receive an imperfect guide, according to economists from at least one firm. …read more […]

Why Medical Cannabis Advocates Are Still Battling

January 30, 2020 admin Comments Off

In 1996, Californians cast their ballots for Proposition 215. This legalized medical marijuana in the state.
Over the next handful of years, Alaska, Colorado, the District of Columbia, Hawaii, Maine, Nevada, Oregon and Washington followed suit.
And that momentum didn’t die down. Today, 33 states have legalized medical cannabis. Roughly 60% of Americans live in a state that allows legal access to medical marijuana.
But there’s still plenty of work to be done.
To discuss this, I’m joined today by Americans for Safe Access (ASA) interim director, Debbie Churgai.
For nearly two decades, the nonprofit has been a champion for patient rights and consumer safety, …read more […]

Southwest disputes U.S. government audit on safety lapses, shares slide

January 30, 2020 admin Comments Off

Southwest Airlines on Thursday disputed the findings of a draft U.S. government audit that claimed the U.S. carrier failed to prioritize safety by flying millions of passengers on used jets whose documentation made it impossible for regulators to determine if required maintenance had been completed.

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Current U.S. earnings season points to growth, defying expectations

January 30, 2020 admin Comments Off

Earnings for S&P 500 companies are seen increasing for the fourth quarter over a year earlier, according to IBES data from Refinitiv.

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Aston Martin calls board meeting to decide on fundraising: FT

January 30, 2020 admin Comments Off

Luxury British carmaker Aston Martin has called a board meeting in which it may decide between two potential investors for an emergency fundraising, the Financial Times reported on Thursday.

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Tesla directors settle, isolating Musk as SolarCity trial looms

January 30, 2020 admin Comments Off

Directors of Tesla Inc settled a shareholder lawsuit over its 2016 acquisition of SolarCity Corp, leaving Chief Executive Officer Elon Musk as the lone defendant facing claims that Tesla paid $2.6 billion for a worthless solar system installer, according to court documents.

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Coronavirus cases continue to spread, here’s why it’s not like SARS

January 30, 2020 admin Comments Off

The Coronavirus continues to spread with more than 8,000 confirmed cases worldwide. Yahoo Finance’s Emily McCormick joins the On The Move panel to discuss why Coronavirus is not like SARS. …read more […]