US stocks struggled on Tuesday as investors nervously watched an acceleration in COVID-19 cases globally.
Apart from this, the FDA will give the company access to more frequent meetings and may even grant Immutep "accelerated approval and priority review."
FibroGen shares sink after the company said it discovered errors in safety analyses for a drug candidate to treat anemia.
Kimbal Musk cashed out a small chunk of his Tesla stake, but offset the sales by exercising options to buy more shares.
Investors are anticipating Biden's infrastructure speech and OPEC+ meeting, as the impact of the Archegos hedge fund default lessens.
Months after a short squeeze sent shares soaring more than 1,600%, GameStop's stock remains extremely volatile, the company told investors.
With GameStop's stock price still near $200, the company is considering selling new units to help fund the ongoing "transformation" led by Ryan Cohen.
Ulta Beauty shares slide after light earnings guidance and as CEO Mary Dillon plans to transition from the role.
Twitter outlined long-term goals to investors including "at least" doubling revenue by 2023, a move that helped push the stock sharply higher.
Home Depot was given a price-target upgrade by Bank of America, which pointed to consistent double-digit same store sales as one driver.
Oat milk sales were up by over 300% during the pandemic, as consumers flocked to less perishable foods when lockdowns commenced.
The semiconductor company’s stock jumped after Bloomberg’s report that the company is exploring its business options. The analogue chip unit could sell for $US2 billion to $US3 billion, according to sources in the report. Silicon Labs hasn’t made any final decisions about what it plans to do with its operations. […]
Silicon Labs may decide to sell its analog chip unit as the company explores its business options, according to a Bloomberg report.
Fastly stock fell below $US90 during premarket trade after its first quarter adjusted loss projections fell short of expectations. The content delivery network says it expects to post an adjusted loss of $US0.09 to $US0.13 per share for the current quarter. Fastly’s fourth quarter adjusted loss of $US0.09 per share […]
Fastly's wider-than-expected quarterly loss guidance put pressure on the cloud-computing services company's stock.
GameStop is having a wild week that has little to do with the video game market. The video game retailer’s stock value has soared past $US325 a share from about $US30 in two weeks. The stock had already been rising slightly, but then Reddit users got involved. Visit Business Insider’s […]
The largest video-game retailer has had a wild few years. Its stock value was below $US5 per share in mid-August, but its share price has skyrocketed in recent weeks. It turns out that explosion has little to do with video games, GameStop, or the video-game market. Visit Business Insider’s homepage […]
House Speaker Nancy Pelosi has up to $US1 million riding on Tesla’s future success. The politician bought 25 call options on shares in Elon Musk’s electric-vehicle company. Pelosi also made bullish wagers on Apple and Disney, and purchased AllianceBernstein stock. Visit Business Insider’s homepage for more stories. House Speaker Nancy […]
Strong demand for the iPhone 12 will set Apple’s shares up for a 32% gain in 2021 as it smashes previous sales records for its mobile phones, Wedbush said on Tuesday. Wedbush expects the iPhone maker to sell more than 240 million units next year, compared with Wall Street estimates […]
US tech firms including Uber, Lyft, and DoorDash could offer independent contractors up to 15% of their compensation in stock under a new regulatory proposal. The proposal addresses heated debate in favour of allowing the fast-growing gig economy to enjoy more traditional benefits like job security. The SEC’s proposal will […]
DoorDash will begin trading on the NYSE on Wednesday. The company’s IPO filing in November revealed delivery workers will not be granted stock when the company goes public. They are, however, eligible for $US12 million in cash bonuses over the next six months. Visit Business Insider’s homepage for more stories. […]
Twilio surged to record highs on Monday after it agreed to acquire Segment for $US3.2 billion in an all-stock deal. “Segment lets developers and companies break down those [data] silos and build a complete picture of their customer,” Twilio co-founder Jeff Lawson said. The deal is expected to close in […]
A vote of confidence from one of Warren Buffett’s lieutenants sent Dillard’s stock up as much as 13% in pre-market trading on Monday. Ted Weschler, an investment manager at Buffett’s Berkshire Hathaway, revealed an almost 6% stake in the ailing department-store chain on Friday. Weschler’s 1.08 million Dillard shares were […]
Cloud communications company Twilio is set to acquire data startup Segment for $US3.2 billion, sources tell Forbes, though a deal is not yet final. Twilio has emerged as a winner in the pandemic economy, with its stock price just about tripling since the beginning of the year. The company now […]
Square said on Wednesday it purchased 4,709 bitcoins at an aggregate purchase price of $US50 million. The digital payments company said the investment represents approximately 1% of Square’s total assets at the end of the second quarter of 2020. Square sees potential for bitcoin to become “a more ubiquitous currency” […]
IBM surged on Thursday after it announced plans to spin off its legacy managed infrastructure business so it can solely focus on building up its cloud division. The spinoff is expected to be tax-free for IBM shareholders and will be completed by the end of 2021, the company said. “IBM […]
Airline stocks are set to soar despite estimates of lower passenger demand over the next year, JPMorgan said in a note on Wednesday. Specifically, United Airlines and JetBlue could both jump nearly 50% from Tuesday’s close as the airline companies have enough cash to make it through the economic decline […]
The S&P 500 is inversely correlated with rising Google searches for “COVID”, DataTrek said. In a note on Tuesday, DataTrek’s co-founder Jessica Rabe said: “Google search volumes for “covid” are rising again, which is troubling because Americans’ level of interest has been inversely correlated with US equities since March.” US […]
Bank of America raised its McDonald’s price target to $US250 per share from $US225 per share, citing consumers who are “tired of their own cooking” and flocking to fast food drive-thrus. In a note on Monday a team of BofA analysts also raised their McDonald’s earnings estimates for next year. […]
Shares of Regeneron Pharmaceuticals leapt as high as 9.7% on Monday following news that President Trump received the drugmaker’s antibody treatment while hospitalized. Regeneron’s medicine is still in experimental trials, but could receive emergency use authorization for the treatment of COVID-19 by the FDA in a matter of days, according […]
The Leuthold Group’s top strategist Jim Paulsen said Wednesday “incredible economic momentum” will drive US stocks higher in the fourth quarter of the year. He said a broader economic recovery in some US consumer-facing industries has prompted a rise in confidence. He said: “Since 1988, and when consumer confidence has […]
Palantir insiders were temporarily unable to sell shares Wednesday due to an issue with Morgan Stanley’s trading software, Shareworks, CNBC first reported and Shareworks confirmed to Business Insider. The data-mining company went public Wednesday morning via a direct listing at $US10 per share, but took a page from the traditional […]
Data-mining firm Palantir climbed as much as 14% in its first day of trading on the New York Stock Exchange. Palantir opened at $US10 per share, 38% above its reference price of $US7.25. The subsequent climb marked a 14% increase from the opening price. The company began trading under the […]
Apple CEO Tim Cook was granted 333,987 restricted stock units by Apple recently, worth approximately $US38 million based on the current Apple stock price. Those units, which vest annually starting in 2023, are intended to keep Cook with Apple until at least 2025. Cook could earn an additional 333,987 shares […]
Deutsche Bank lifted its profit and sales forecasts for Chinese electric car manufacturer Nio on Tuesday, citing the company’s promising move into the premium autos sector. In a note probing whether Nio can be “the next iconic auto brand,” analysts led by Edison Yu cited growing favorability in the expanding […]
Canaccord Genuity’s strategist Tony Dwyer told CNBC’s “Trading Nation” Monday, investors can still benefit from a six-12 month market rebound. He said: ‘Why do I want to buy weakness now when I didn’t want to buy it in early March? The answer is the fundamental backdrop is much better.” Dwyer […]
Goldman Sachs said in a note Monday rising real yields on US 10 year Treasuries could have “exacerbated” the recent sell-off in US stocks. The bank said while real yields have risen, nominal yields have hardly moved, not serving as a diversification tool for investors. “Performance has been negative for […]
Novavax said Thursday it initiated a Phase 3 trial of its COVID-19 vaccine in the UK. The trial will enroll up to 10,000 volunteers across the UK to assess the NVX-CoV2373 vaccine candidate. Novavax has scaled up its manufacturing capacity in anticipation of developing a successful COVID-19 vaccine, and will […]
Shares of SPI Energy soared as high as 4,345% on Wednesday after the solar company announced the launch of an electric vehicle business. The EV business will “focus on the design and develop of new EV technologies and plans to partner with major manufacturers, as necessary,” according to a press […]
Nikola fell 22% on Wednesday amid a report from The Wall Street Journal that potential partnership talks have been put on hold after weeks of controversy. Shortly after a short-seller report from Hindenburg Research alleged that Nikola was deceptive and misled investors, founder Trevor Milton stepped down from the company. […]
Mark Haefele, chief investment officer at UBS Global Wealth Management, told Business Insider the worst of the recent weakness in the stock market is probably over for now. But he said the central bank may wait for a vaccine to inject fresh cash: “Is the Federal Reserve reluctant to deploy […]
The stock market will become disconnected from the economy in 2021, as a lot of layoffs become permanent, a money manager said. RiverFront Investment Group’s Kevin Nicholson, said firms focusing on profitability next year will create a “divergence between the economy and the market.” More than 13.5 million Americans are […]
Markets should prepare for volatility to balloon after Election Day, Wells Fargo said Tuesday. Wells Fargo head of rates strategy Michael Schumacher told CNBC’s Trading Nation Tuesday, options are showing greater volatility. “The big takeaway is three month options vol is still quite high, and it has not really come […]
Wells Fargo’s chief investment officer Kirk Hartman thinks the worst is over for the US stock market. Hartman told CNBC’s “Street Signs Asia.” “I do think there will be more volatility but I think we have seen the worst of the sell-off.” Stock markets have rallied so far on Monday […]
Markets are headed for a pullback for three reasons, BTIG’s long-time bull Julian Emanuel said Monday. “Rather than fear being priced in the options market, there’s fear of missing out,” he told CNBC’s “Trading Nation”. “That is a very abnormal position.” He said retail investor appetite, increasing volatility and a […]
S&P 500 could fall by as much as 20% in the coming weeks, Tim Hayes, senior strategist at Ned Davis Research, told Business Insider. He said: “I would expect a decline of 15-20% and then we get a rally that maybe leaves us back where we are around now.” All […]
Nikola plummeted on Thursday after a short-seller report from Hindenburg Research alleged that the company and CEO Trevor Milton made false statements over-hyping its technological capabilities. The Hindenburg report comes just two days after General Motors inked a $US2 billion partnership with the EV manufacturer, sending shares of Nikola up […]
A Wall Street indicator of risk appetite shows investors are lot less confident than they were last week, before the tech sell-off. CNN Money’s “Fear & Greed Index” fell from a reading of “extreme greed” last week, to “neutral”. Tech stocks sold off sharply over the past few days after […]
The tech sector is not in a bubble, according to UBS Global Wealth Management. Mark Haefele said in a note on Monday: “The sell-off raises the question whether the time has come to sell tech stocks. But our view is that the move does not mark the start of a […]
Tesla falls another 4% following Thursday’s 9% decline in which the Nasdaq-100 fell by more than 5%, its sharpest one-day drop since March. Tesla’s biggest shareholder, Scottish asset manager Baillie Gifford, was forced to trim its stake in the company due to new internal rules limiting the weight of certain […]
Tech stocks take a breather on Friday after Thursday’s sell-off. European stocks turned green as investors digested the fall in the tech sector from record-highs Nasdaq 100 records biggest one-day drop since mid-March after Big Tech crash Gold prices and the US dollar are stable despite broader sweep lower on […]
Summary List Placement Tesla and Apple have both led the Nasdaq 100 to touch all-time highs, but an indicator is suggesting that investors could face much volatility. The Cboe Nasdaq volatility index has increased over 10% in the last five days. Just like the VIX, a higher volatility figure reflects […]
Summary List Placement Shares of Tesla slumped as much as 7% in early trading Thursday. The fall comes just a day after Baillie Gifford, Tesla’s largest outside shareholder, said it had to trim its stake amid the stock’s record-breaking rally. Tesla fell 6% on Wednesday following the announcement. Watch Tesla […]
Summary List Placement The S&P 500 and Nasdaq composite extended records on Wednesday after closing at all-time highs on Tuesday. The rally was led by sectors that have underperformed in 2020, including utilities and financials. Traders are still watching for signs that Congress will reach a deal on another pandemic […]
Summary List Placement JPMorgan said Tuesday the US election will cause volatility for markets even beyond results day. Strategists led by Joshua Younger said in a Tuesday note that volatility, a measure of investor nervousness, on some derivatives that expire around the election day is six times higher than normal. […]
Chamath Palihapitiya explained in a Tweet on Monday why he’s investing in 3D printing company Desktop Metal. The venture capitalist said that manufacturing is entering its “2.0 era,” where tools and machinery are replaced by printers. Materials and parts will create an ecosystem that can “increasingly make anything.” He said […]
Eastman Kodak soared as much as 52% in early Tuesday trading after an SEC filing revealed hedge fund D. E. Shaw & Co. buying more than 3.9 million shares of the company. The purchase represents a 5.2% stake in Kodak. Kodak’s stock price has settled around 40% higher year-to-date after […]
Apple just completed its fifth stock split ever on Monday, as investors received four shares for every one share held. The split quartered Apple’s stock price from around $US500 last week to about $US125 today. Here’s how shares of Apple performed one year after its previous stock splits, according to […]
General Electric is worth less than $US5 per share, JPMorgan said in a note on Monday. Analyst Stephen Tusa, who has been bearish on General Electric over the past three years and has proven prescient with his bearish calls, removed his price target on the industrial conglomerate. Tusa is now […]
Nio announced on Monday that it sold 88.5 million American depository shares for $US17 a piece. Shares of Nio slumped 8% in premarket trading Monday. The Chinese electric vehicle company, which competes with Tesla, originally planned to sell 75 million shares in a secondary offering Watch Nio trade live on […]
S&P 500 can explode a further 11% and touch 3,900 before year end if Trump’s revolutionary vaccine plan gets recognised, a CEO of an online trading platform said. Anthony Denier, CEO of Webull told Business Insider: “I would predict the S&P to flirt with 3,900.” Trump announced this week the […]
Workday jumped as much as 12% in early Friday trading after beating estimates for second-quarter earnings and revenue. The company also raised its guidance for full-year subscription revenue above Wall Street’s forecast. Workday promoted Co-President Chano Fernandez to co-CEO, where he’ll serve alongside CEO Aneel Bhusri. The firm’s better-than-expected results […]
Goldman Sachs analysts lifted their price target for Peloton stock to a Street-high $US96 from $US84 on Thursday, implying a 43% increase from Wednesday’s close to August 2021. Wall Street’s expectations for the fitness equipment company’s growth “remain far too low,” the team wrote in a note to clients. Peloton […]
US stocks closed at new records on Tuesday, but US bank Jefferies thinks stocks have reached the sort of “euphoria” that tends to precede a correction. Sean Darby, global equity strategist at Jefferies said in a note: “Some of our indicators are beginning to move into the ‘euphoria’ stage, and […]
Salesforce.com blew earnings expectations out of the water after markets closed on Tuesday, trouncing expectations for second-quarter profits and revenue. The company also raised its full-year guidance above expectations, a stark pivot from its guidance cut in May. Salesforce shares rallied as much as 29% on the earnings beat. Bank […]
Nio surged 15% to record highs on Tuesday after the China-based electric vehicle manufacturer was upgraded from “sell” to “neutral” by UBS. In a note published on Tuesday, UBS said improving fundamentals driven by operational cost cutting justified its price target boost from $US1.00 to $US16.30, representing an increase of […]
Even as Apple touts a $US2 trillion market cap, investors can find opportunity in the stock, Morgan Stanley said Sunday. The bank raised its base-case price target for the shares to $US520 from $US431, implying a 5% gain from Friday’s close over the next year. The firm’s bull case sees […]
Tech giants are the most crowded they have been in decades, but not all fund managers are piling in with the rest of the market, according to Goldman Sachs. Hedge funds have boosted their bets on the FAAMG group – Facebook,Amazon,Apple,Microsoft, and Google-parent Alphabet– while mutual funds are underweight on […]
Apple’s stock price has ballooned so much in recent weeks that it is on track to be worth more than the entirety of the UK’s benchmark share index, the FTSE 100. The tech giant became the first US-listed company to reach the $US2 trillion mark this week. According to data […]
CNBC Mad Money host Jim Cramer compared the S&P 500 to a patch of grass, saying it looks great at a glance, but when you get closer, it is covered in weeds. Big tech stocks like Apple and Tesla have seen huge gains in 2020, masking the generally weak performance […]
Nvidia will become the first $US500 billion semiconductor stock as its data centre business ramps up and gaming sales surge, Bank of America analysts said Thursday. Analysts led by Vivek Arya boosted their price target for Nvidia shares to $US600 from $US520, implying a 24% rally from Wednesday’s close. “All […]
China is in the midst of its own day-trading boom, with more than 2.4 million new investors flooding to the country’s stock market in July, the biggest increase since the 2015 bubble. Citing data from China Securities Depository and Clearing, Bloomberg reported Thursday that the number of new brokerage accounts […]
CureVac, a German biotech backed by Bill Gates, said Thursday it is in talks with the EU to supply 225 million doses of its potential coronavirus vaccine. Shares of CureVac jumped more than 18% in premarket trading on Thursday. If an agreement is reached, it would mark the company’s first […]
Goodyear Tire & Rubber Co. dropped as much as 6% on Wednesday after President Trump tweeted to his 85 million followers to boycott Goodyear tires. Trump’s tweet was likely sparked by an image that was shared on social media earlier this week that supposedly shows a slide of an employee […]
The S&P 500 closed at a record high on Tuesday for the first since February amid positive housing-market data and a broad tech rally. Housing starts jumped by 22.6% in July, more than economists expected, showing continued strength in the housing-market recovery. Democrats and Republicans remain deadlocked in negotiations on […]
Electric vehicle maker Canoo said it will go public via a reverse merger with “blank check” company Hennessy Capital Acquisition Corp. later this year. The Los Angeles-based car maker plans to raise $US600 million in the SPAC offering, netting the combined entity a valuation of $US2.4 billion. Canoo is now […]
Walmart reported quarterly earnings on Tuesday that crushed Wall Street’s estimates, boosted by a huge surge in ecommerce. Shares of Walmart climbed as much as 6% in premarket trading Tuesday before paring those gains to trade lower. Walmart’s ecommerce sales soared 97% in the second quarter, as the coronavirus pandemic […]
A Canadian soap company soared 164% this week after the company reported earnings that showed increased demand for its soap and hand sanitizer products amid the COVID-19 pandemic. Acasta Enterprises said in its earnings release on Tuesday that revenue more than doubled to C$98 million in the quarter, while earnings […]
Novavax shares leaped as much as 13.3% on Friday after finalising a deal with the UK to supply 60 million doses of its potential coronavirus vaccine. The biotech company didn’t reveal how much the UK paid for the doses. The UK government will collaborate with Novavax on phase 3 trials […]
Bank of America on Friday upgraded Tesla to “neutral” from “underperform” and raised its price target to $US1,750 from $US800. The new price target from the firm implies an 8% upside for Tesla shares over the next year. Shares of Tesla ticked up as much as 4% on Friday. Morgan […]
Shares of recently IPO’d Rocket Companies surged as much as 9% on Friday after the company reported strong preliminary second quarter earnings results. The mortgage loan company likely benefited from low interest rates, which have led to a boom in refinances, and a rise in demand for homes amid the […]
AMC spiked as much as 24% higher on Thursday after the company revealed plans to reopen some theatres on August 20. More than 100 locations will open their doors next week, according to a press release. AMC plans to reopen more than 600 locations by the time Christopher Nolan’s “Tenet” […]
David Portnoy’s Barstool Sports could drive “rapid share gains” for Penn National Gaming and help drive shares 20% higher from Wednesday’s close, according to Goldman Sachs. The research firm initiated Penn National at a buy with a 12-month price target of $US60 on Thursday, arguing that Barstool’s massive social media […]
Tony Dwyer, Canaccord chief market strategist, told CNBC on Tuesday that record levels of cash in the economy are even higher than 2009, making a bullish case for markets. He said “the amount of money that’s floating around the system” as the global economy rebounds off historic weakness tells a […]
Electric-vehicle maker Nio“has a shot at earning the ‘Tesla of China’ moniker,” Alexander Potter of Piper Sandler wrote in a Tuesday note. Piper Sandler said Nio may live up to the name following solid quarterly earnings. The firm also boosted its price target on shares to $US14 from $US4. “There […]
Tesla stock rallied as much as 7% in early Wednesday trading after the company revealed a five-for-one stock split scheduled for August 28. Every Tesla shareholder will receive four additional shares that, when added to their existing share, will equal the stock’s pre-split value. The split itself won’t change Tesla’s […]
President Donald Trump on Tuesday announced that the US government reached a deal with Moderna for 100 million doses of its coronavirus vaccine candidate. Shares of Moderna spiked as much as 11% in premarket trading Wednesday. The company separately announced the deal is worth $US1.53 billion and gives the government […]
Warren Buffett seems to have repurchased more than $US7 billion of Berkshire Hathaway stock in the last three months. The billionaire investor and Berkshire CEO bought back about $US5.1 billion of his company’s stock in May and June, and Berkshire’s shrinking share count points to at least $US2 billion of […]
Bausch Health announced on Thursday that it plans to spin off its eye-care business. Shares of the company skyrocketed as much as 27% in premarket trading Thursday. The spinoff will result in two companies – the eye care business, and a “diversified pharmaceutical company with leading positions in gastroenterology, aesthetics/ […]
Tuna Amobi, senior media and entertainment equity analyst at CFRA said the return of sports will slow cord-cutting as viewers flock to live-TV games. Amobi said the lockdown caused a “pent-up demand” to watch sports. The entertainment analyst said Comcast remains one of his favourite names right now. Read More […]
Kodak’s share price jumped as much as 35% in pre-market trading on Thursday as traders continued to cheer its $US765 million government loan to make drug ingredients in response to the pandemic. The camera company’s stock skyrocketed about 1,200% in two days this week, boosting its market capitalisation from under […]
US stocks limped into the close on Tuesday, paring earlier gains, after Senate Majority Leader Mitch McConnell said he doesn’t expected another stimulus bill to pass in the next two weeks. The uncertainty surrounding further economic relief dented optimism around the European Union’s historic 750 billion euro ($US860 billion) stimulus […]
US stocks rose on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening […]
US stocks slid on Tuesday as investors weighed second-quarter earnings results for US banks against spiking coronavirus cases. JPMorgan gained after earnings beat Wall Street expectations. Wells Fargo slumped after reporting a loss and cutting its dividend. Coronavirus cases continue to climb in the US, forcing states to rollback reopening […]
US stocks rose on Friday as traders cheered advances in coronavirus treatment. Gilead Sciences said on Friday that an analysis of clinical-trial data for its remdesivir drug found a 62% reduction in mortality risk among severe COVID-19 patients. Still, the US on Thursday reported 63,200 new coronavirus cases, according to […]
RA Capital Management, a small biotech investment firm, has made $US255 million in paper profits in less than four weeks from a bet on Novavax, The Wall Street Journal reported Thursday. Shares of pharmaceutical company Novavax have surged nearly 2,300% this year. In February, the company said it was working […]
Facebook shares are seeing a steady fall as more advertising brands join a boycott movement against the social-media giant. The tech giant was one among the big few to perform comparatively well despite the storm of the pandemic, but its stock now tells us a different story. Markets Insider rounded […]
Wirecard, one of Europe’s leading financial technology companies, is at the heart of one the region’s biggest corporate accounting scandals in recent years. The company’s shares have plunged over 80% ever since it admitted auditors could not trace €1.9 billion in its financial accounts. Last week the firm’s chief executive […]
Buy General Motors instead of Tesla, Goldman Sachs said in a note Thursday that highlighted its expectations for a rebound in the auto industry. Goldman now expects global auto sales for 2020 to decline 14.5% year-over-year, an improvement from its previous estimate for a 17% drop, and expects auto sales […]
US nonfinancial businesses debt surged a record annualized 18.8% in the first quarter, according to a Thursday report from the Federal Reserve. A jump in loans and corporate bond issuance pushed total US nonfinancial business debt to $US16.8 trillion, higher than the level of household debt. Companies likely boosted their […]